香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不會就本公告全部或任何部分內容 而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 AB BUILDERS GROUP LIMITED 奧 邦 建 築 集 團 有 限 公 司 （於開曼群島註冊成立之有限公司） （股份代號：01615） 截至二零二二年十二月三十一日止年度 全年業績公告 奧邦建築集團有限公司（「本公司」）董事會（「董事會」）謹此公告本公司及其附屬 公司截至二零二二年十二月三十一日止年度之經審核全年業績。本公告符合香 港聯合交易所有限公司證券上市規則有關隨附初步全年業績公告的資料之相關 規定。 刊載全年業績公告及年報 此業績公告可在香港聯合交易所有限公司網站(www.hkexnews.hk)及本公司網站 (www.abbuildersgroup.com)閱覽。 本公司二零二二年年報將於適當時候寄發予股東並在本公司及香港聯合交易所 有限公司網站刊載。 承董事會命 奧邦建築集團有限公司 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其準確 性或完整性亦不發表任何聲明，並明確表示，概不會就本公告全部或任何部分內容而產生或 因倚賴該等內容而引致之任何損失承擔任何責任。 AB BUILDERS GROUP LIMITED 奧邦建築集團有限公司 （股份代號：01615） （於開曼群島註冊成立之有限公司） 有關截至二零二一年十二月三十一日止年度年報 的補充公告 茲提述奧邦建築集團有限公司（「本公司」，連同其附屬公司統稱「本集團」）於 二零二二年四月二十八日刊發的截至二零二一年十二月三十一日止年度的年 報（「二零二一年年報」）。除非文義另有所指外，否則本公告所用詞彙與二零 二一年年報所界定者具有相同涵義。 有關所得款項用途的二零二一年年報的補充資料 除二零二一年年報第41頁管理層討論及分析「所得款項用途」一節所披露的資 料外，董事會謹此根據上市規則附錄16第11(8)段提供有關該節項下所得款項淨 額用途的進一步資料如下： – 1 – （百萬港元） | --- | --- | --- | --- | --- | --- | --- | --- | --- | |-------| ...

Financial Performance - The company's revenue for the six months ended June 30, 2022, was approximately MOP 98.0 million, a decrease of about MOP 32.1 million or 24.7% compared to the same period last year[9]. - The gross profit for the first half of 2022 was MOP 2.3 million, down from MOP 2.7 million in the same period of 2021[9]. - For the six months ended June 30, 2022, the group's gross profit decreased by approximately MOP 0.4 million or 13.4% compared to the same period last year[17]. - The group reported a total loss of MOP 12,108,000 for the six months ended June 30, 2022, compared to a loss of MOP 13,452,000 in the prior year, indicating an improvement of 10.0%[86]. - Basic loss per share was MOP 0.01 for the six months ended June 30, 2022, compared to MOP 0.02 in the same period of 2021[86]. - The company reported other income of MOP 3,028,000 for the six months ended June 30, 2022, significantly higher than MOP 998,000 in the same period of 2021[86]. - The group incurred an administrative expense of MOP 11,656,000, contributing to a loss before tax of MOP 12,108,000 for the six months ended June 30, 2022[116]. - The loss attributable to the owners of the company for the six months ended June 30, 2022, was MOP 7,622,000, compared to a loss of MOP 11,813,000 in the same period of 2021[128]. Revenue Breakdown - Revenue for the six months ended June 30, 2022, was MOP 98,041,000, a decrease of 24.7% from MOP 130,154,000 in the same period of 2021[107]. - Revenue from renovation contracts was MOP 97,162,000, a decrease of 21.6% compared to MOP 123,798,000 in the prior year[107]. - The revenue from renovation projects decreased by approximately MOP 26.6 million or 21.5%, primarily due to fewer awarded projects in 2022[14]. - The revenue from air purification business increased by approximately MOP 0.7 million or 357.8%, driven by increased demand for air purification devices/systems[15]. - The external customer revenue from Macau was MOP 82,894,000, a decrease from MOP 96,219,000 in the previous year[121]. Cash Flow and Financial Position - As of June 30, 2022, the group's cash and bank balances totaled approximately MOP 215.5 million, an increase of about MOP 34.2 million from MOP 181.3 million as of December 31, 2021[30]. - The total cash balance at the end of the period was MOP 149,214,000, up from MOP 71,424,000 at the end of the previous year[93]. - The company’s cash and cash equivalents increased to MOP 149,214,000 as of June 30, 2022, from MOP 115,050,000 as of December 31, 2021, an increase of 29.6%[88]. - Net cash generated from operating activities was MOP 50,407,000, a significant improvement from MOP -11,988,000 in the previous year[93]. - Current assets decreased to MOP 301,438,000 as of June 30, 2022, from MOP 328,288,000 as of December 31, 2021, a decline of 8.2%[88]. - Total liabilities as of June 30, 2022, were MOP 160,156,000, compared to MOP 175,834,000 as of December 31, 2021, reflecting a decrease of 8.9%[88]. - Net assets as of June 30, 2022, were MOP 180,125,000, down from MOP 192,056,000 as of December 31, 2021, a decline of 6.2%[88]. Operational Insights - The company was awarded 2 renovation projects during the review period, with a total contract value of approximately MOP 5.6 million[9]. - The company has 25 ongoing projects as of June 30, 2022, including 3 structural engineering projects and 22 renovation projects[9]. - Significant fluctuations in construction materials and labor costs may lead to cost overruns, severely impacting operational and financial performance[44]. - The company relies heavily on subcontractors for project completion, and poor performance from these subcontractors may negatively impact operations and profitability[44]. - The ability to attract and retain key management and technical personnel is crucial for the company's success[44]. Strategic Plans and Market Outlook - The company aims to expand its business network and customer base in Macau, Hong Kong, and mainland China[10]. - The board remains cautiously optimistic about the development of the construction industry and the company's long-term growth[11]. - The company plans to actively seek new business opportunities in the Greater Bay Area through mergers and collaborations with well-known enterprises[11]. - The ongoing COVID-19 pandemic and geopolitical tensions have created uncertainty in the global economy, affecting project cash flows and inventory levels[44]. Share-Based Payments and Governance - The stock option plan adopted on August 17, 2018, aims to incentivize qualified participants contributing to the group[60]. - The company granted 3,000,000 stock options to its investment president at an exercise price of HKD 0.272 and HKD 0.670, with the options exercisable in three tranches from May 29, 2022, to November 29, 2023, and expiring on August 16, 2028[62]. - The fair value of the stock options at the grant date was determined to be HKD 264,000, equivalent to approximately MOP 272,000, using a binomial option pricing model[70]. - The company recognized a share-based payment expense of approximately MOP 177,000 related to the stock options granted[70]. - The company has complied with all applicable corporate governance codes as of June 30, 2022[71].

Financial Performance - The company recorded revenue of approximately MOP 353.1 million, representing a significant increase of 78.7% compared to the previous year[16]. - Gross profit for the year was approximately MOP 17.2 million, with a substantial reduction in loss attributable to shareholders amounting to MOP 44.2 million[16]. - The gross profit for the year ended December 31, 2021, was approximately MOP 17.2 million, compared to a gross loss of approximately MOP 16.9 million in 2020[178]. - Renovation projects contributed MOP 344.1 million or 97.4% to total revenue in 2021, while structural engineering projects contributed MOP 8.5 million or 2.4%[176]. - The gross profit margin for renovation projects was 4.9% in 2021, a significant improvement from a gross loss margin of 9.4% in 2020[179]. - The group faced currency risk primarily from procurement of raw materials and sales receipts in currencies other than its functional currency, mainly HKD and RMB[196]. - The group had a total of 136 full-time employees as of December 31, 2021, down from 146 employees the previous year, due to strict cost control measures[197]. Business Strategy and Opportunities - The company plans to continue strict cost control measures to mitigate adverse impacts on ongoing projects due to global economic instability[17]. - The company is actively seeking new business opportunities in the Guangdong-Hong Kong-Macao Greater Bay Area to enhance its competitive strength[17]. - The company plans to continue actively participating in government and private project tenders to expand its business network and customer base in Macau and mainland China[174]. - The company is strategically expanding its construction business into the Guangdong-Hong Kong-Macau Greater Bay Area, enhancing its competitiveness[174]. - The company remains cautiously optimistic about the industry outlook, anticipating gradual stabilization of the Macau economy in 2022[17]. - The company will maintain strict cost control measures to ensure stable development in a challenging market environment[174]. Shareholder Information - As of December 31, 2021, Mr. Liu holds 390,000,000 shares, representing a 65% stake in the company[62]. - Mr. Ye holds 60,000,000 shares, which accounts for a 10% ownership in the company[62]. - Laos International Holdings Limited, owned by Mr. Liu, holds 255,000,000 shares, equating to a 42.5% stake[66]. - WHM Holdings Limited, owned by Mrs. Liu, holds 135,000,000 shares, representing a 22.5% stake[66]. - The company did not recommend any final dividend for the year ended December 31, 2021, consistent with the previous year[27]. - The company ensures that all resolutions presented at shareholder meetings are voted on, with results published on the company's and stock exchange's websites[164]. - Shareholders holding at least 10% of the paid-up capital have the right to request a special general meeting to address specified matters[165]. - The company maintains a contact point for shareholders to raise inquiries, ensuring transparency and communication[166]. Corporate Governance - The board of directors consists of eight members, including five executive directors and three independent non-executive directors[101]. - The company has adopted the corporate governance code as per the Hong Kong Stock Exchange's listing rules and has complied with applicable provisions during the reporting period[97]. - The company has maintained compliance with the main board listing rules, ensuring at least three independent non-executive directors, constituting over one-third of the board[113]. - The chairman and CEO roles are separated, with Liu Chaosheng as chairman and Liu Qiuyu as CEO, focusing on business development and daily management[110]. - Independent non-executive directors confirmed their independence annually, and all were deemed independent by the company[113]. - The company has established three committees (Audit, Remuneration, and Nomination) to oversee specific matters, with most members being independent non-executive directors[123]. - The Remuneration Committee, also established on August 17, 2018, consists of three members, with all members attending 3 out of 3 meetings in 2021, ensuring no director determines their own remuneration[128][130]. - The Nomination Committee, formed on August 17, 2018, is responsible for reviewing the board's structure and diversity, with its members attending meetings with a record of 2 out of 2 for the chairman[141][142]. Risk Management and Compliance - The company emphasizes the importance of risk management and internal control systems, which are designed to manage risks associated with achieving business objectives[144]. - The Audit Committee assists the board in overseeing the design, implementation, and monitoring of risk management and internal control systems[145]. - The company has adopted a three-tier risk management approach to identify, assess, and manage various risks, ensuring that risks remain within acceptable limits[147]. - The board and audit committee have reported the effectiveness of the risk management and internal control systems, deeming them sufficient without any significant concerns affecting shareholders[148]. - The company has implemented monitoring procedures to strictly prohibit unauthorized access and use of insider information[149]. - The company has maintained compliance with relevant laws and regulations that significantly impact its business operations throughout the year[89]. - The company has not received any environmental violation notices related to its operations or those of its subcontractors during the reporting period[84]. Internal Controls and Auditing - The company has engaged an independent third-party internal control consultant to review its internal control systems annually, with no significant deficiencies identified during the review period[147]. - The external auditor's fee for the fiscal year ending December 31, 2021, was HKD 550,000, with additional fees of HKD 150,000 and HKD 50,000 for non-audit services and Macau income tax services, respectively[158]. - The Audit Committee was established on August 17, 2018, and held three meetings in 2021, reviewing and approving the audited consolidated financial statements for the year ended December 31, 2020, and the unaudited consolidated financial statements for the period ended June 30, 2021[124]. Employee and Administrative Information - Employee costs totaled approximately MOP 37.3 million for the year ended December 31, 2021, compared to MOP 40.1 million for the previous year[197]. - Administrative expenses decreased from MOP 31.4 million to MOP 28.5 million, a reduction of approximately MOP 2.9 million due to tightened cost control amid economic uncertainty[183]. - The group had no significant investments, acquisitions, or disposals during the year ended December 31, 2021[195]. - The group has no significant capital commitments as of December 31, 2021[194].

AB BUILDERS GROUP LIMITED 奥 邦 建 築 集 團 有 限 公 司 (Incorporated in the Cayman Islands with limited liability) 於開曼群島註冊成立的有限公司 Stock Code 股份代號 : 1615 INTERIM REPORT 中 期 報 告 A SE INSITE I | --- | --- | |------------------------------|-------| | | | | 目錄 | | | 公司資料 | | | 管理層討論及分析 | | | 其他資料 | | | 簡明綜合財務報表審閱報告 | | | 簡明綜合損益及其他全面收益表 | | | 簡明綜合財務狀況表 | | | 簡明綜合權益變動表 | | | 簡明綜合現金流量表 | | | 簡明綜合財務報表附註 | | 財務摘要 32 32 02 奧邦建築集團有限公司 2021年中報 公司資料 | --- | --- | |-------------------------|-------------------------| | | | | 董事會 | ...

AB BUILDERS GROUP LIMITED 奧邦建築集團有限公司 (Incorporated in the Cayman Islands with limited liability) 於開曼群島註冊成立的有限公司 Stock Code 股份代號 : 1615 BUILDERS AB DERS 目錄 公司資料 2 主席報告 4 董事會報告 6 企業管治報告 19 管理層討論及分析 33 董事及高級管理層履歷詳情 41 獨立核數師報告 54 綜合損益及其他全面收益表 60 綜合財務狀況表 61 綜合權益變動表 63 綜合現金流量表 64 綜合財務報表附註 66 財務概要 146 提名委員會 公司資料 董事會 執行董事 劉朝盛先生（主席） 劉秋瑜女士（行政總裁） 李兆祥先生（營運總裁）， 於二零二零年九月一日獲委任 劉家裕女士 鄭益偉先生 葉建華先生 獨立非執行董事 朱逸鵬先生 蔡偉石先生，榮譽勳章，太平紳士 歐陽偉立先生 | --- | --- | |---------------------------------|---------------------| | | | | 審核委員會 | 澳門 | ...

ai159980500415_AB Builders IR2020 COV v01 output.pdf 1 11/9/2020 下午2:16 AB BUILDERS GROUP LIMITED 奧邦建築集團有限公 司 AB BUILDERS GROUP LIMITED 奧邦建築集團有限公 司 (Incorporated in the Cayman Islands with limited liability) 於開曼群島註冊成立的有限公司 Stock Code 股份代號 : 1615 IDDREDE 2020 中期報告 Interim Report 8日田田田田 田田田田田田 8日田田田田 1 100 00 100 00 THE THE THE THE THE THE THE FEATURE THE FOR 目錄 公司資料 2 管理層討論及分析 4 其他資料 11 簡明綜合財務報表審閱報告 14 簡明綜合損益及其他全面收益表 15 簡明綜合財務狀況表 16 簡明綜合權益變動表 18 簡明綜合現金流量表 19 簡明綜合財務報表附註 20 財務摘要 32 8日田田田田田 | 田田田田田田田 四日四日日日 02 ...

AB BUILDERS GROUP LIMITED 奧邦建築集團有限公司 (Incorporated in the Cayman Islands with limited liability) 於開曼群島註冊成立的有限公司 Stock Code 股份代號 : 1615 AULII ● + Annual Report 2019 年報 目錄 公司資料 2 主席報告 4 董事會報告 6 企業管治報告 18 管理層討論及分析 32 董事及高級管理層履歷詳情 40 獨立核數師報告 52 綜合損益及其他全面收益表 59 綜合財務狀況表 60 綜合權益變動表 62 綜合現金流量表 63 綜合財務報表附註 65 財務概要 132 0 + 0 公司資料 執行董事 黎瀛洲先生（執業律師） 劉朝盛先生（主席） 授權代表 劉秋瑜女士（行政總裁） 劉秋瑜女士 劉家裕女士 鄭益偉先生 鄭益偉先生 葉建華先生 鄭益偉的替任授權代表 獨立非執行董事 黎瀛洲先生（執業律師） 朱逸鵬先生 註冊辦事處 羅宏澤先生（於二零一九年六月十一日辭任） 蔡偉石先生，榮譽勳章，太平紳士 PO Box 1350 歐陽偉立先生（於二零一九年六月十一日獲委任） C ...

[**Company Information**](index=3&type=section&id=%E5%85%AC%E5%8F%B8%E8%B3%87%E6%96%99) This chapter outlines Aobang Construction Group Co., Ltd.'s fundamental corporate details, including board composition, key personnel, and auditor information - Mr. Luo Hongze resigned as an independent non-executive director and committee member on June 11, 2019, with Mr. Au Yeung Wai Lap appointed to these roles on the same date[4](index=4&type=chunk) - The company's stock code is **1615**[7](index=7&type=chunk) - The auditor is **Deloitte Touche Tohmatsu**[7](index=7&type=chunk) [**Management Discussion and Analysis**](index=5&type=section&id=%E7%AE%A1%E7%90%86%E5%B1%A4%E8%A8%8E%E8%AB%96%E5%8F%8A%E5%88%86%E6%9E%90) This chapter analyzes the company's H1 2019 business performance, financial position, corporate finance, and risk management, highlighting revenue growth, margin pressure, and strategic responses to market challenges [**Business Review**](index=5&type=section&id=%E6%A5%AD%E5%8B%99%E5%9B%9E%E9%A1%87) The Group's H1 2019 revenue grew **43.2%** to **MOP 178.9 million**, despite macroeconomic headwinds, driving strategic expansion into the Greater Bay Area H1 2019 Business Overview | Metric | Amount (MOP million) | | :----------------- | :------------------- | | Revenue | 178.9 | | Y-o-Y Growth Rate | 43.2% | | Projects Completed | 5 renovation, 1 structural | | New Projects Awarded | 4 renovation, 1 structural | | Projects in Progress | 17 (5 structural, 12 renovation) | - Macau's economy was adversely affected by the US-China trade war, global economic slowdown, and RMB depreciation, with H1 2019 real GDP contracting by **2.5%** and gross gaming revenue decreasing by **0.9%** year-on-year[12](index=12&type=chunk) - The Group plans to capitalize on Greater Bay Area development opportunities through mergers and acquisitions, partnerships with reputable enterprises, and active bidding[13](index=13&type=chunk) [**Financial Review**](index=7&type=section&id=%E8%B2%A1%E5%8B%99%E5%9B%9E%E9%A1%87) The Group's H1 2019 revenue increased **43.2%** to **MOP 178.9 million**, primarily from renovation projects, though gross margin declined to **16.0%** due to a loss-making contract and competitive bidding Revenue Breakdown by Construction Work Type | Construction Work Type | 2019 (MOP thousand) | % | 2018 (MOP thousand) | % | | :------------------- | :------------------ | :---- | :------------------ | :---- | | Renovation engineering | 150,380 | 84.1 | 101,701 | 81.4 | | Structural engineering | 28,473 | 15.9 | 23,173 | 18.6 | | **Total** | **178,853** | **100.0** | **124,874** | **100.0** | Gross Profit and Gross Margin by Construction Work Type | Construction Work Type | 2019 Gross Profit (MOP thousand) | Gross Margin % | 2018 Gross Profit (MOP thousand) | Gross Margin % | | :------------------- | :------------------------------- | :------------- | :------------------------------- | :------------- | | Renovation engineering | 21,147 | 14.1 | 20,788 | 20.4 | | Structural engineering | 7,519 | 26.4 | 6,967 | 30.1 | | **Total** | **28,666** | **16.0** | **27,755** | **22.2** | - Total gross margin decreased from **22.2%** in H1 2018 to **16.0%** in H1 2019, primarily due to a **MOP 1.5 million** loss-making contract and increased revenue from lower-margin competitive bids[20](index=20&type=chunk) - Other income increased by **159.4%** to **MOP 2.1 million**, mainly due to higher bank interest income[21](index=21&type=chunk) - Administrative expenses increased by **52.9%** to **MOP 11.6 million**, primarily due to higher professional fees, marketing expenses, and staff costs[24](index=24&type=chunk) - Profit for the period was approximately **MOP 15.2 million**, a **0.2%** increase year-on-year; excluding non-recurring listing expenses, current period profit was **MOP 15.2 million** compared to **MOP 18.6 million** last year[27](index=27&type=chunk) - The Board does not recommend paying an interim dividend for the six months ended June 30, 2019[28](index=28&type=chunk) [**Corporate Finance and Risk Management**](index=11&type=section&id=%E4%BC%81%E6%A5%AD%E8%9E%8D%E8%B3%87%E5%8F%8A%E9%A2%A8%E9%9A%AA%E7%AE%A1%E7%90%86) The Group maintained healthy liquidity as of June 30, 2019, with net current assets of **MOP 203.3 million** and a current ratio of **2.6**, while managing contingent liabilities and a growing workforce Liquidity and Financial Resources | Metric | June 30, 2019 (MOP million) | Dec 31, 2018 (MOP million) | | :--------------------- | :-------------------------- | :------------------------- | | Net current assets | 203.3 | 195.7 | | Current ratio | 2.6 | 2.5 | | Bank balances and cash | 130.8 | 155.2 | | Pledged bank deposits | 50.3 | 50.3 | | Unutilized bank credit | 127.0 | 118.9 | - Approximately **MOP 42.9 million** in office properties and **MOP 50.3 million** in deposits are pledged to banks as security for banking facilities, including performance and tender guarantees[35](index=35&type=chunk) - The Group's management considers foreign currency exchange risk to be insignificant and currently has no foreign currency hedging policy[37](index=37&type=chunk)[38](index=38&type=chunk) - As of June 30, 2019, the Group had no capital commitments (December 31, 2018: **MOP 1.8 million**)[39](index=39&type=chunk) - Contingent liabilities include performance guarantees of approximately **MOP 64.6 million** and tender guarantees of approximately **MOP 0.5 million**[40](index=40&type=chunk) - As of June 30, 2019, the Group had **100** full-time employees (December 31, 2018: **94**), with total staff costs of approximately **MOP 17.2 million**[42](index=42&type=chunk) [**Use of Proceeds from Global Offering**](index=14&type=section&id=%E5%85%A8%E7%90%83%E7%99%BC%E5%94%AE%E6%89%80%E5%BE%97%E6%AC%BE%E9%A0%85%E7%94%A8%E9%80%94) The company's global offering raised **HKD 61.2 million** net, with **HKD 22.2 million** utilized for project financing and working capital, and the remaining **HKD 39.0 million** earmarked for equipment and M&A - Net proceeds from the global offering amounted to approximately **HKD 61.2 million**[43](index=43&type=chunk) Use and Utilization of Global Offering Proceeds | Purpose | Actual Amount (HKD million) | Utilized (HKD million) | Unutilized (HKD million) | | :------------------------------------------------ | :-------------------------- | :--------------------- | :----------------------- | | Financing construction projects and strengthening financial position (43%) | 26.4 | 18.4 | 8.0 | | Acquisition of new machinery (27%) | 16.5 | – | 16.5 | | Potential mergers and acquisitions (10%) | 6.1 | – | 6.1 | | Recruitment of additional staff (10%) | 6.1 | 1.1 | 5.0 | | General working capital (10%) | 6.1 | 2.7 | 3.4 | | **Total** | **61.2** | **22.2** | **39.0** | - Unutilized net proceeds are held in the Group's bank time deposit accounts, with funds for new machinery expected to be utilized from H2 2019[45](index=45&type=chunk)[46](index=46&type=chunk) [**Events After Reporting Period**](index=14&type=section&id=%E5%A0%B1%E5%91%8A%E6%9C%9F%E5%BE%8C%E4%BA%8B%E9%A0%85) The Board is unaware of any significant disclosable events occurring after June 30, 2019, up to the report date - The Board is unaware of any significant disclosable events occurring after June 30, 2019, up to the report date[47](index=47&type=chunk) [**Other Information**](index=14&type=section&id=%E5%85%B6%E4%BB%96%E8%B3%87%E6%96%99) This chapter details directors' and substantial shareholders' interests, the share option scheme, corporate governance practices, and the audit committee's role, confirming compliance with relevant codes [**Directors' and Chief Executives' Interests in Shares, Underlying Shares, and Debentures**](index=15&type=section&id=%E8%91%A3%E4%BA%8B%E5%8F%8A%E4%B8%BB%E8%A6%81%E8%A1%8C%E6%94%BF%E4%BA%BA%E5%93%A1%E6%96%BC%E6%9C%AC%E5%85%AC%E5%8F%B8%E8%82%A1%E4%BB%BD%E3%80%81%E7%9B%B8%E9%97%9C%E8%82%A1%E4%BB%BD%E5%8F%8A%E5%82%B5%E6%AC%8A%E8%AD%89%E4%B8%AD%E7%9A%84%E6%AC%8A%E7%9B%8A%E6%88%96%E6%B7%A1%E5%80%89) As of June 30, 2019, Mr. Lau Chiu Shing held **65%** of the company's shares through controlled entities and spouse's interests, while Mr. Yip Kin Wah held **10%** as a beneficial owner Directors' Shareholdings | Director Name | Capacity / Nature of Interest | Number of Shares (L) | Approximate Shareholding % | | :----------------- | :--------------------------------- | :------------------- | :------------------------- | | Mr. Lau Chiu Shing | Interest in controlled corporation and spouse's interest | 390,000,000 | 65% | | Mr. Yip Kin Wah | Beneficial owner | 60,000,000 | 10% | - Mr. Lau Chiu Shing's interests include **255,000,000 shares** held by his wholly-owned Laos International Holdings Limited, and **135,000,000 shares** held by his spouse Ms. Wong Hio Mei through her wholly-owned WHM Holdings Limited[49](index=49&type=chunk) [**Substantial Shareholders' Interests in Shares, Underlying Shares, and Debentures**](index=16&type=section&id=%E4%B8%BB%E8%A6%81%E8%82%A1%E6%9D%B1%E6%96%BC%E6%9C%AC%E5%85%AC%E5%8F%B8%E8%82%A1%E4%BB%BD%E3%80%81%E7%9B%B8%E9%97%9C%E8%82%A1%E4%BB%BD%E5%8F%8A%E5%82%B5%E6%AC%8A%E8%AD%89%E4%B8%AD%E7%9A%84%E6%AC%8A%E7%9B%8A%E5%8F%8A%E6%B7%A1%E5%80%89) As of June 30, 2019, Ms. Wong Hio Mei (Mrs. Lau) held **65%** of the company's shares through controlled entities and spouse's interests, with Laos International Holdings Limited holding **42.5%** and WHM Holdings Limited holding **22.5%** Substantial Shareholders' Shareholdings | Name / Company Name | Capacity / Nature of Interest | Number of Shares (L) | Approximate Shareholding % | | :------------------------- | :--------------------------------- | :------------------- | :------------------------- | | Mrs. Lau | Interest in controlled corporation and spouse's interest | 390,000,000 | 65% | | Laos International Holdings Limited | Beneficial owner | 255,000,000 | 42.5% | | WHM Holdings Limited | Beneficial owner | 135,000,000 | 22.5% | - Mrs. Lau's interests include **135,000,000 shares** held by her wholly-owned WHM Holdings and **255,000,000 shares** held by her spouse Mr. Lau[51](index=51&type=chunk) [**Share Option Scheme**](index=17&type=section&id=%E8%B3%BC%E8%82%A1%E6%AC%8A%E8%A8%88%E5%8A%83) The company conditionally adopted a share option scheme on August 17, 2018, to incentivize eligible participants, with no options granted as of the report date - The share option scheme was conditionally adopted on August 17, 2018, and became effective upon listing[54](index=54&type=chunk) - No share options have been granted as of the report date[54](index=54&type=chunk) [**Corporate Governance**](index=17&type=section&id=%E4%BC%81%E6%A5%AD%E7%AE%A1%E6%B2%BB) The company has adopted and complied with all code provisions of the Corporate Governance Code set out in Appendix 14 of the Listing Rules - The company has adopted and complied with all code provisions of the Corporate Governance Code set out in Appendix 14 of the Listing Rules[55](index=55&type=chunk) [**Purchase, Sale or Redemption of the Company's Listed Securities**](index=17&type=section&id=%E8%B3%BC%E8%B2%B7%E3%80%81%E5%87%BA%E5%94%AE%E6%88%96%E8%B3%96%E5%9B%9E%E6%9C%AC%E5%85%AC%E5%8F%B8%E4%B8%8A%E5%B8%82%E8%AD%89%E5%88%B8) Neither the company nor its subsidiaries purchased, sold, or redeemed any of the company's listed securities during the six months ended June 30, 2019 - Neither the company nor its subsidiaries purchased, sold, or redeemed any of the company's listed securities[56](index=56&type=chunk) [**Standard Code for Securities Transactions by Directors**](index=17&type=section&id=%E8%91%A3%E4%BA%8B%E9%80%B2%E8%A1%8C%E8%AD%89%E5%88%B8%E4%BA%A4%E6%98%93%E7%9A%84%E6%A8%99%E6%BA%96%E5%AE%88%E5%89%87) The company adopted the Standard Code for securities transactions by directors, with all directors confirming compliance throughout the reporting period - All directors confirmed their compliance with the required standards set out in the Standard Code for the six months ended June 30, 2019[57](index=57&type=chunk) [**Audit Committee**](index=17&type=section&id=%E5%AF%A9%E6%A0%B8%E5%A7%94%E5%93%A1%E6%9C%83) The Audit Committee, established on August 17, 2018, comprises three independent non-executive directors, chaired by Mr. Au Yeung Wai Lap, and has reviewed the H1 2019 unaudited condensed consolidated financial statements - The Audit Committee comprises three independent non-executive directors: Mr. Au Yeung Wai Lap (Chairman), Mr. Chu Yat Pang, and Mr. Choi Wai Shek[58](index=58&type=chunk) - The Committee has reviewed the unaudited condensed consolidated financial statements for the six months ended June 30, 2019[58](index=58&type=chunk) [**Review Report on Condensed Consolidated Financial Statements**](index=18&type=section&id=%E7%B0%A1%E6%98%8E%E7%B6%9C%E5%90%88%E8%B2%A1%E5%8B%99%E5%A0%B1%E8%A1%A8%E5%AF%A9%E9%96%B1%E5%A0%B1%E5%91%8A) Deloitte Touche Tohmatsu reviewed Aobang Construction Group Co., Ltd.'s H1 2019 condensed consolidated financial statements, finding no material non-compliance with IAS 34, though the review scope was less than an audit - Deloitte Touche Tohmatsu has reviewed the Group's condensed consolidated financial statements[60](index=60&type=chunk) - The scope of the review is substantially less than an audit conducted in accordance with Hong Kong Standards on Auditing, thus no audit opinion is expressed[61](index=61&type=chunk) - Based on the review, nothing has come to the auditor's attention that causes them to believe the condensed consolidated financial statements are not prepared, in all material respects, in accordance with IAS 34[62](index=62&type=chunk) [**Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income**](index=20&type=section&id=%E7%B0%A1%E6%98%8E%E7%B6%9C%E5%90%88%E6%90%8D%E7%9B%8A%E5%8F%8A%E5%85%B6%E4%BB%96%E5%85%A8%E9%9D%A2%E6%94%B6%E7%9B%8A%E8%A1%A8) This statement presents the Group's H1 2019 financial performance, with revenue of **MOP 178.853 million** and profit of **MOP 15.164 million**, maintaining stability due to the absence of listing expenses this period Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income Summary | Metric | 2019 (MOP thousand) | 2018 (MOP thousand) | | :---------------------------------------- | :------------------ | :------------------ | | Revenue | 178,853 | 124,874 | | Cost of sales | (150,187) | (97,119) | | Gross profit | 28,666 | 27,755 | | Other income | 2,093 | 807 | | Other losses | (42) | (80) | | Impairment losses | (1,476) | – | | Administrative expenses | (11,675) | (7,637) | | Listing expenses | – | (3,416) | | Profit before tax | 17,566 | 17,429 | | Income tax expense | (2,402) | (2,294) | | **Profit and total comprehensive income for the period** | **15,164** | **15,135** | | Basic earnings per share (MOP) | 0.03 | 0.03 | [**Condensed Consolidated Statement of Financial Position**](index=21&type=section&id=%E7%B0%A1%E6%98%8E%E7%B6%9C%E5%90%88%E8%B2%A1%E5%8B%99%E7%8B%80%E6%B3%81%E8%A1%A8) This statement outlines the Group's financial position as of June 30, 2019, showing total assets of **MOP 376.508 million**, net current assets of **MOP 203.250 million**, and total equity of **MOP 250.212 million** Condensed Consolidated Statement of Financial Position Summary | Metric | June 30, 2019 (MOP thousand) | Dec 31, 2018 (MOP thousand) | | :------------------------- | :--------------------------- | :-------------------------- | | **Non-current assets** | | | | Property, plant and equipment | 46,962 | 44,110 | | **Current assets** | | | | Trade and other receivables | 108,770 | 95,789 | | Contract assets | 39,656 | 29,000 | | Pledged bank deposits | 50,279 | 50,279 | | Bank balances and cash | 130,841 | 155,229 | | **Current liabilities** | | | | Trade and other payables | 108,545 | 116,083 | | Contract liabilities | 1,412 | 4,566 | | Tax payable | 16,339 | 13,937 | | **Net current assets** | **203,250** | **195,711** | | **Net assets** | **250,212** | **241,237** | | **Total equity** | **250,212** | **241,237** | [**Condensed Consolidated Statement of Changes in Equity**](index=22&type=section&id=%E7%B0%A1%E6%98%8E%E7%B6%9C%E5%90%88%E6%AC%8A%E7%9B%8A%E8%AE%8A%E5%8B%95%E8%A1%A8) This statement details the Group's equity changes for H1 2019, with total equity increasing to **MOP 250.212 million** from **MOP 241.237 million**, reflecting profit and dividend distribution Condensed Consolidated Statement of Changes in Equity Summary | Metric | Jan 1, 2019 (MOP thousand) | Profit and total comprehensive income for the period (MOP thousand) | Dividends distributed (MOP thousand) | June 30, 2019 (MOP thousand) | | :------------------------------------------------ | :------------------------- | :-------------------------------------------------- | :----------------------------------- | :--------------------------- | | Share capital | 6,189 | – | – | 6,189 | | Share premium | 82,564 | – | – | 82,564 | | Statutory reserve | 6,000 | – | – | 6,000 | | Other reserves | (86,724) | – | – | (86,724) | | Retained profits | 233,208 | 15,164 | (6,189) | 242,183 | | **Total** | **241,237** | **15,164** | **(6,189)** | **250,212** | - Profit and total comprehensive income for the period amounted to **MOP 15,164 thousand**[69](index=69&type=chunk) - Dividends distributed amounted to **MOP 6,189 thousand**[69](index=69&type=chunk) [**Condensed Consolidated Statement of Cash Flows**](index=23&type=section&id=%E7%B0%A1%E6%98%8E%E7%B6%9C%E5%90%88%E7%8F%BE%E9%87%91%E6%B5%81%E9%87%8F%E8%A1%A8) This statement presents the Group's H1 2019 cash flows, showing a net cash outflow of **MOP 17.442 million** from operating activities, primarily due to increased receivables and contract assets, resulting in reduced cash and cash equivalents Condensed Consolidated Statement of Cash Flows Summary | Metric | 2019 (MOP thousand) | 2018 (MOP thousand) | | :------------------------------------------------ | :------------------ | :------------------ | | Cash generated from operations before working capital changes | 18,363 | 18,002 | | Increase in trade and other receivables | (14,200) | (34,072) | | Increase (decrease) in contract assets | (10,913) | 24,987 | | Changes in other working capital items | (10,692) | (4,118) | | **Net cash (used in) from operating activities** | **(17,442)** | **4,799** | | Net cash (used in) from investing activities | (757) | 150 | | Net cash used in financing activities | (6,189) | (3,479) | | **Net (decrease) increase in cash and cash equivalents** | **(24,388)** | **1,470** | | Cash and cash equivalents at end of period | 130,841 | 58,091 | - Net cash from operating activities shifted from an inflow in the prior period to an outflow, primarily due to increases in trade and other receivables and contract assets[73](index=73&type=chunk) [**Notes to the Condensed Consolidated Financial Statements**](index=24&type=section&id=%E7%B0%A1%E6%98%8E%E7%B6%9C%E5%90%88%E8%B2%A1%E5%8B%99%E5%A0%B1%E8%A1%A8%E9%99%84%E6%B3%A8) This chapter provides detailed notes to the condensed consolidated financial statements, covering preparation basis, key accounting policies, revenue recognition, segment information, taxation, dividends, earnings per share, and related party transactions [**1. General Information and Basis of Preparation**](index=24&type=section&id=1.%20%E4%B8%80%E8%88%AC%E8%B3%87%E6%96%99%E5%8F%8A%E7%B7%A8%E8%A3%BD%E5%9F%BA%E6%BA%96) Aobang Construction Group Co., Ltd., incorporated in Cayman Islands in 2017 and listed on HKEX in September 2018, provides construction services, with financial statements prepared under IAS 34 and HKEX Listing Rules in MOP - The company was incorporated in the Cayman Islands on February 23, 2017, and its shares were listed on the Main Board of The Stock Exchange of Hong Kong Limited on September 10, 2018[74](index=74&type=chunk) - The Group primarily engages in providing construction services, including structural and renovation works[74](index=74&type=chunk) - The condensed consolidated financial statements are prepared in accordance with International Accounting Standard 34 'Interim Financial Reporting' and the applicable disclosure requirements of Appendix 16 to the Listing Rules of the Stock Exchange[74](index=74&type=chunk) - The company's presentation and functional currency is **Macau Pataca (MOP)**[75](index=75&type=chunk) [**2. Principal Accounting Policies**](index=24&type=section&id=2.%20%E4%B8%BB%E8%A6%81%E6%9C%83%E8%A8%88%E6%94%BF%E7%AD%96) The condensed consolidated financial statements are prepared on a historical cost basis, with IFRS 16 'Leases' newly applied this period, impacting lessee accounting but not significantly affecting the Group as a lessor - The condensed consolidated financial statements are prepared on a historical cost basis[76](index=76&type=chunk) - During the interim period, the Group first applied new and revised International Financial Reporting Standards, including **IFRS 16 'Leases'**[77](index=77&type=chunk)[78](index=78&type=chunk) - As a lessee, the Group applies recognition exemptions for short-term leases and leases of low-value assets[83](index=83&type=chunk) - As a lessor, the application of IFRS 16 had no impact on the Group's financial position and performance for the current and prior periods[86](index=86&type=chunk) [**3. Revenue**](index=26&type=section&id=3.%20%E6%94%B6%E7%9B%8A) The Group's revenue, primarily from renovation and structural engineering, totaled **MOP 178.853 million** for H1 2019, with **MOP 156.365 million** in unfulfilled contract transaction prices expected to be recognized by 2020 Revenue Breakdown by Construction Work Type | Type | 2019 (MOP thousand) | 2018 (MOP thousand) | | :---------------------------------- | :------------------ | :------------------ | | Revenue from renovation engineering contracts | 150,380 | 101,701 | | Revenue from structural engineering contracts | 28,473 | 23,173 | | **Total** | **178,853** | **124,874** | - Structural and renovation engineering projects typically range from one to two years[87](index=87&type=chunk) Total Transaction Price Allocated to Unfulfilled Performance Obligations | Type | June 30, 2019 (MOP thousand) | June 30, 2018 (MOP thousand) | | :--------------------- | :--------------------------- | :--------------------------- | | Renovation engineering | 132,292 | 132,065 | | Structural engineering | 24,073 | 66,032 | | **Total** | **156,365** | **198,097** | - Revenue from unfulfilled contracts is expected to be recognized during the years ending December 31, 2019, and 2020[89](index=89&type=chunk) [**4. Segment Information**](index=27&type=section&id=4.%20%E5%88%86%E9%83%A8%E8%B3%87%E6%96%99) The Group's operating segments, renovation and structural engineering, generated **MOP 150.380 million** and **MOP 28.473 million** in revenue respectively for H1 2019, with all external customer revenue and non-current assets attributable to Macau - The Group's reportable and operating segments are renovation engineering and structural engineering[91](index=91&type=chunk) Segment Revenue and Profit (H1 2019) | Segment | Revenue (MOP thousand) | Profit (MOP thousand) | | :--------------------- | :--------------------- | :-------------------- | | Renovation engineering | 150,380 | 21,147 | | Structural engineering | 28,473 | 7,519 | | **Total** | **178,853** | **28,666** | - The Group's operations and non-current assets are geographically located entirely in Macau[93](index=93&type=chunk) [**5. Income Tax Expense**](index=29&type=section&id=5.%20%E6%89%80%E5%BE%97%E7%A8%85%E9%96%8B%E6%94%AF) For H1 2019, the Group's income tax expense was **MOP 2.402 million**, calculated at Macau's supplementary income tax rate of **12%**, resulting in an effective tax rate of **13.7%** Income Tax Expense | Metric | 2019 (MOP thousand) | 2018 (MOP thousand) | | :------------------------------------ | :------------------ | :------------------ | | Macau Complementary Income Tax – current period | 2,402 | 2,294 | - Macau Complementary Income Tax is calculated at **12%** on estimated assessable profits for the period exceeding **MOP 600,000**[95](index=95&type=chunk) - The effective tax rates for the six months ended June 30, 2019, and 2018 were **13.7%** and **13.2%**, respectively[26](index=26&type=chunk) [**6. Profit and Total Comprehensive Income for the Period**](index=30&type=section&id=6.%20%E6%9C%9F%E5%85%A7%E6%BA%A2%E5%88%A9%E5%8F%8A%E5%85%A8%E9%9D%A2%E6%94%B6%E5%85%A5%E7%B8%BD%E9%A1%8D) Profit and total comprehensive income for the period were calculated after deducting contract costs of **MOP 150.187 million** and property, plant, and equipment depreciation of **MOP 1.298 million** Contract Costs Recognized as Expenses | Type | 2019 (MOP thousand) | 2018 (MOP thousand) | | :--------------------- | :------------------ | :------------------ | | Renovation engineering | 129,233 | 80,913 | | Structural engineering | 20,954 | 16,206 | | **Total** | **150,187** | **97,119** | - Depreciation of property, plant and equipment amounted to **MOP 1,298 thousand**[96](index=96&type=chunk) [**7. Dividends**](index=30&type=section&id=7.%20%E8%82%A1%E6%81%AF) A final dividend of **HKD 0.01** per share (approximately **MOP 6.189 million**) for FY2018 was declared and approved on May 30, 2019, with no interim dividend for the current period - A final dividend of **HKD 0.01** per share (approximately **MOP 6,189,000**) for the year ended December 31, 2018, was declared and approved on May 30, 2019[97](index=97&type=chunk) - The company will not pay an interim dividend for the current interim period[98](index=98&type=chunk) [**8. Earnings Per Share**](index=31&type=section&id=8.%20%E6%AF%8F%E8%82%A1%E7%9B%88%E5%88%A9) Basic earnings per share for H1 2019 was **MOP 0.03**, based on **MOP 15.164 million** profit and **600,000 thousand** weighted average ordinary shares, with no diluted EPS presented due to absence of dilutive shares Basic Earnings Per Share Calculation | Metric | 2019 (MOP thousand) | 2018 (MOP thousand) | | :-------------------------- | :------------------ | :------------------ | | Profit for basic EPS calculation | 15,164 | 15,135 | Weighted Average Number of Ordinary Shares for Basic EPS Calculation | Year | Thousand shares | | :--- | :-------------- | | 2019 | 600,000 | | 2018 | 450,000 | - No diluted earnings per share is presented for both periods as there were no potentially dilutive ordinary shares outstanding[101](index=101&type=chunk) [**9. Property, Plant and Equipment**](index=31&type=section&id=9.%20%E7%89%A9%E6%A5%AD%E3%80%81%E5%BB%A0%E6%88%BF%E5%8F%8A%E8%A8%AD%E5%82%99) For H1 2019, the Group acquired **MOP 2.709 million** in leasehold improvements and **MOP 1.441 million** in furniture, fixtures, and equipment - The Group acquired **MOP 2,709,000** in leasehold improvements and **MOP 1,441,000** in furniture, fixtures, and equipment[102](index=102&type=chunk) [**10. Trade and Other Receivables**](index=32&type=section&id=10.%20%E8%B2%BF%E6%98%93%E5%8F%8A%E5%85%B6%E4%BB%96%E6%87%89%E6%94%B6%E6%AC%BE%E9%A0%85) As of June 30, 2019, total trade and other receivables amounted to **MOP 108.770 million**, with trade receivables (net of loss allowance) at **MOP 93.093 million**, mostly within 30 days, under a 7-60 day credit policy Total Trade and Other Receivables | Metric | June 30, 2019 (MOP thousand) | Dec 31, 2018 (MOP thousand) | | :--------------------------------- | :--------------------------- | :-------------------------- | | Trade receivables | 93,093 | 73,560 | | Advances to subcontractors and suppliers | 10,347 | 16,933 | | Other receivables, prepayments and deposits | 5,330 | 5,296 | | **Total** | **108,770** | **95,789** | - The Group generally grants credit terms of **7 to 60 days** to customers[104](index=104&type=chunk) Ageing Analysis of Trade Receivables | Ageing | June 30, 2019 (MOP thousand) | Dec 31, 2018 (MOP thousand) | | :------------ | :--------------------------- | :-------------------------- | | 1 to 30 days | 69,033 | 27,409 | | 31 to 60 days | 7,560 | 30,250 | | 61 to 90 days | 16,044 | 15,901 | | Over 90 days | 456 | – | [**11. Contract Assets (Liabilities)**](index=33&type=section&id=11.%20%E5%90%88%E7%B4%84%E8%B3%87%E7%94%A2%EF%BC%88%E8%B2%A0%E5%82%B5%EF%BC%89) As of June 30, 2019, contract assets included **MOP 37.017 million** in retention receivables, and contract liabilities included **MOP 2.237 million** in customer advances, with retention typically **10%** of certified amounts, recovered in two stages - Contract assets and liabilities include retention receivables from customers for contract works amounting to **MOP 37,017,000**[106](index=106&type=chunk) - Contract assets and liabilities include advances received from customers amounting to **MOP 2,237,000**[107](index=107&type=chunk) - Customers typically withhold **10%** of certified amounts payable to the Group as retention money, with **50%** usually recoverable upon project completion and the remaining **50%** after the warranty period (3 months to 2 years from completion)[107](index=107&type=chunk) [**12. Trade and Other Payables**](index=34&type=section&id=12.%20%E8%B2%BF%E6%98%93%E5%8F%8A%E5%85%B6%E4%BB%96%E6%87%89%E4%BB%98%E6%AC%BE%E9%A0%85) As of June 30, 2019, total trade and other payables decreased to **MOP 108.545 million**, with trade payables at **MOP 25.100 million**, mostly within 30 days, under a 7-60 day credit term Total Trade and Other Payables | Metric | June 30, 2019 (MOP thousand) | Dec 31, 2018 (MOP thousand) | | :--------------------------------- | :--------------------------- | :-------------------------- | | Trade receivables | 25,100 | 40,234 | | Retention payables | 29,478 | 22,953 | | Accrued contract costs | 47,877 | 43,340 | | Accrued expenses and other payables | 6,090 | 9,556 | | **Total** | **108,545** | **116,083** | - Credit terms for trade purchases range from **7 to 60 days**[110](index=110&type=chunk) Ageing Analysis of Trade Payables | Ageing | June 30, 2019 (MOP thousand) | Dec 31, 2018 (MOP thousand) | | :------------ | :--------------------------- | :-------------------------- | | 1 to 30 days | 16,473 | 40,132 | | 31 to 60 days | 5,351 | 35 | | Over 60 days | 3,276 | 67 | | **Total** | **25,100** | **40,234** | [**13. Share Capital**](index=35&type=section&id=13.%20%E8%82%A1%E6%9C%AC) As of June 30, 2019, the company's authorized share capital was **10,000,000 thousand shares** (**MOP 103.150 million**), with **600,000 thousand shares** (**MOP 6.189 million**) issued and fully paid, consistent with December 31, 2018 Share Capital Details | Metric | Number of Shares (thousand shares) | Share Capital (MOP thousand) | | :------------------------- | :--------------------------------- | :--------------------------- | | **Authorized Share Capital:** | | | | June 30, 2019 | 10,000,000 | 103,150 | | **Issued and Fully Paid:** | | | | June 30, 2019 | 600,000 | 6,189 | - Issued shares include **150,000 thousand shares** issued upon listing and **449,980 thousand shares** issued upon capitalization issue[115](index=115&type=chunk) [**14. Performance Guarantees / Tender Guarantees**](index=35&type=section&id=14.%20%E5%B1%A5%E7%B4%84%E4%BF%9D%E5%87%BD%E3%84%A7%E6%8A%95%E6%A8%99%E4%BF%9D%E5%87%BD) As of June 30, 2019, the Group held **MOP 64.610 million** in performance guarantees and **MOP 0.555 million** in tender guarantees, secured by bank-pledged property and deposits, with management assessing a low probability of claims - As of June 30, 2019, performance guarantees amounted to **MOP 64,610,000** and tender guarantees to **MOP 555,000**[116](index=116&type=chunk)[120](index=120&type=chunk) - The guarantees are secured by legal charges over the Group's office properties and pledged bank deposits[116](index=116&type=chunk) - The Group's management believes it is unlikely that any claims will be made against the Group under these performance or tender guarantees[121](index=121&type=chunk) [**15. Related Party Transactions**](index=36&type=section&id=15.%20%E9%97%9C%E8%81%AF%E6%96%B9%E4%BA%A4%E6%98%93) For H1 2019, total remuneration for key management personnel, including directors, amounted to **MOP 3.473 million**, covering fees, salaries, other allowances, and retirement benefit scheme contributions Key Management Personnel Remuneration | Metric | 2019 (MOP thousand) | 2018 (MOP thousand) | | :------------------------------ | :------------------ | :------------------ | | Fees | 371 | – | | Salaries and other allowances | 3,099 | 3,234 | | Retirement benefit scheme contributions | 3 | 4 | | **Total** | **3,473** | **3,238** | [**Financial Summary**](index=37&type=section&id=%E8%B2%A1%E5%8B%99%E6%91%98%E8%A6%81) This chapter provides a financial summary of the Group's H1 2019 performance and financial position, reporting revenue of **MOP 178.853 million**, gross profit of **MOP 28.666 million**, and total assets of **MOP 376.508 million** Results Summary | Metric | 2019 (MOP thousand) | 2018 (MOP thousand) | | :---------------------------------------- | :------------------ | :------------------ | | Revenue | 178,853 | 124,874 | | Cost of sales | (150,187) | (97,119) | | Gross profit | 28,666 | 27,755 | | Profit before tax | 17,566 | 17,429 | | Profit for the period | 15,164 | 15,135 | | Profit for the period (excluding listing expenses) | 15,164 | 18,551 | Assets and Liabilities Summary | Metric | June 30, 2019 (MOP thousand) | Dec 31, 2018 (MOP thousand) | | :------------------------- | :--------------------------- | :-------------------------- | | Total assets | 376,508 | 375,823 | | Total liabilities | (126,296) | (134,586) | | Net assets | 250,212 | 241,237 | | Total equity | 250,212 | 241,237 |

AB BUILDERS GROUP LIMITED 奧邦建築集團有限公司 (Incorporated in the Cayman Islands with limited liability) ( 於開曼群島註冊成立的有限公司 ) Stock Code 股份代號 : 1615 Annual Report 2018 年報 | --- | |--------------------------| | | | 目錄 | | 公司資料 | | 主席報告 | | 董事會報告 | | 企業管治報告 | | 管理層討論及分析 | | 董事及高級管理層履歷詳情 | | 獨立核數師報告 | | 綜合損益及其他全面收益表 | | 綜合財務狀況表 | | 綜合權益變動表 | | 綜合現金流量表 | | 綜合財務報表附註 | | 財務概要 | 2 4 6 19 32 42 54 62 63 64 65 67 120 奧邦建築集團有限公司 2018年年報 1 公司資料 | --- | --- | |-------------------------|-------------------------| | | | | 董事會 | 公司 ...