Revenue Performance - For the year ended December 31, 2024, the Group's revenue decreased by 40.2% from approximately HK$134.6 million in 2023 to approximately HK$80.5 million in 2024[12]. - Total revenue for construction and engineering services decreased by approximately 50.2% to HK$61.1 million for the year ended December 31, 2024, compared to HK$122.8 million in the previous year[23]. - The completion of major slope works projects in 2023 and 2024 significantly impacted revenue[12]. - Revenue from property-related services increased by 6.7% from approximately HK$8.4 million in 2023 to approximately HK$9.0 million in 2024[12]. - Revenue from property-related services remained stable, with approximately HK$5.0 million for the year ended 31 December 2024 compared to approximately HK$4.6 million for the year ended 31 December 2023[42]. - The Group recorded revenue of approximately HK$10.4 million from luxury product sales in 2024, up from approximately HK$3.4 million in 2023, driven by stable growth in luxury watch sales[29]. - Revenue from sales of luxury products increased by approximately HK$7.0 million or approximately 207.5%, from approximately HK$3.4 million for the year ended 31 December 2023 to approximately HK$10.4 million for the year ended 31 December 2024[43]. Profitability and Financial Performance - The Group's total gross profit for the year ended 31 December 2024 amounted to approximately HK$5.4 million, representing an increase of 50.6% compared to approximately HK$3.6 million for the year ended 31 December 2023[48]. - The gross profit margin for the year ended 31 December 2024 was approximately 6.7%, compared to approximately 2.7% for the year ended 31 December 2023[48]. - Gross profit from construction and engineering services increased by 150% to approximately HK$0.6 million for the year ended 31 December 2024, with a gross profit margin of approximately 1.0%[49]. - Gross profit from property-related services increased to approximately HK$2.8 million for the year ended 31 December 2024, with a gross profit margin of approximately 31.5%[50]. - Gross profit from sales of luxury products increased by approximately 100% to approximately HK$2.0 million for the year ended 31 December 2024, with a gross profit margin of approximately 18.8%[51]. - The net loss for the year ended December 31, 2024, was approximately HK$15.8 million, a slight improvement from a net loss of approximately HK$16.4 million for the year ended December 31, 2023, with a net loss margin of approximately 19.6%[61]. Business Strategy and Future Outlook - The Group plans to review existing operations and formulate long-term business strategies to improve profitability, particularly in site formation and ground investigation works[13]. - The Group aims to optimize and diversify business operations while exploring new business opportunities to strengthen revenue[14]. - The Group plans to continue exploring business expansion opportunities beyond construction and engineering services to enhance future development and strengthen revenue bases[35]. - The Group is adopting a cautious approach to future development, monitoring market risks and uncertainties during the economic recovery cycle[36]. - The construction and engineering services sector is expected to face challenges in the coming years[13]. Corporate Governance - The Company emphasizes high standards of corporate governance to enhance shareholder value and safeguard stakeholder interests[113]. - The Board has adopted the Corporate Governance Code provisions applicable for the year ended December 31, 2024, to ensure compliance with the Listing Rules[113]. - The Company will continue to review and enhance its corporate governance practices in line with the latest developments[113]. - The Company has adopted and complied with the Corporate Governance Code during the year ended 31 December 2024[114]. - The Board is composed of five members, including two executive Directors and three independent non-executive Directors[124]. - The Board has achieved a gender diversity target of at least 20% female Directors, currently comprising one female and four male Directors[135]. - The Company has adopted a nomination policy to ensure a balance of skills, experience, and diversity among Board members[139]. - The roles of chairman and chief executive officer are held by separate individuals, in compliance with corporate governance standards[146]. Employee and Operational Information - The Group employed 60 full-time employees as of December 31, 2024, down from 65 full-time employees in the previous year, with total staff costs amounting to approximately HK$29.0 million[81]. - The Group's cash and bank deposits denominated in US dollars amounted to approximately HK$37.8 million as of December 31, 2024, compared to approximately HK$37.1 million as of December 31, 2023[77]. - The Group has sufficient insurance coverage for claims and litigations related to employee compensation and personal injury, with no material adverse impact expected on operations or financial position[88]. - The Group continues to review its employee compensation policy to ensure competitiveness in the market[85]. - The Group has been involved in various claims and litigations but does not anticipate any significant financial impact from these issues[87]. Financial Position and Cash Flow - As of December 31, 2024, the Group had total cash and bank balances of approximately HK$121.4 million, down from approximately HK$137.2 million as of December 31, 2023[69]. - The gearing ratio as of December 31, 2024, was approximately 0.4%, a decrease from approximately 0.8% as of December 31, 2023, due to lower total indebtedness from lease liability repayments[71]. - The Group had no significant investments, material acquisitions, or disposals of subsidiaries, joint ventures, and associated companies during the year ended December 31, 2024[79]. - The Board did not recommend the payment of any final dividend for the year ended December 31, 2024, consistent with the previous year[62]. - The Company has a dividend policy that considers factors such as financial condition, capital and debt levels, and future cash requirements[145]. Board and Committee Activities - The Audit Committee is composed of three independent non-executive Directors, ensuring oversight of the Group's financial integrity[180]. - The external auditor, Grant Thornton, received HK$940,000 for audit services and HK$30,000 for non-audit services for the year ended 31 December 2024[190]. - The Directors confirmed that the consolidated financial statements for the year ended 31 December 2024 were prepared on a going concern basis and complied with relevant accounting standards[191]. - The company held four Board meetings and one general meeting during the year ended 31 December 2024[175]. - The Audit Committee held three meetings to review the Group's interim and annual financial results, internal control, and risk management systems[185].

Financial Performance - For the fiscal year ending December 31, 2024, the group's revenue was approximately HKD 80.51 million, a decrease of 40% compared to HKD 134.57 million in 2023[4] - The gross profit for the fiscal year ending December 31, 2024, was approximately HKD 5.39 million, an increase of 50.5% from HKD 3.58 million in 2023[4] - The loss attributable to equity holders for the fiscal year ending December 31, 2024, was approximately HKD 15.81 million, a slight improvement from a loss of HKD 16.37 million in 2023[4] - The basic and diluted loss per share for the fiscal year ending December 31, 2024, was approximately HKD 0.94, compared to HKD 0.97 in 2023[4] - The company’s total comprehensive income for the year ended December 31, 2024, was not specified but is critical for future projections[7] - The reported segment performance showed a loss before tax of HKD 15,526,000, with allocated segment performance metrics indicating a loss of HKD 9,835,000[22] - The net loss for the year ending December 31, 2024, is approximately HKD 15.8 million, a slight decrease from approximately HKD 16.4 million for the year ending December 31, 2023, with a net loss margin of about 19.6% compared to 12.2% in the previous year[108] Revenue Breakdown - The group's revenue from construction and engineering services for the year ended December 31, 2024, was HKD 61,129,000, while for the year ended December 31, 2023, it was HKD 122,774,000, indicating a decrease of approximately 50%[19] - Revenue from property-related services for the year ended December 31, 2024, was HKD 8,977,000, compared to HKD 8,412,000 for the year ended December 31, 2023, showing an increase of about 6.7%[19] - Luxury goods sales revenue for the year ended December 31, 2024, reached HKD 10,395,000, up from HKD 3,381,000 in the previous year, representing a significant increase of approximately 207%[19] - For the fiscal year ending December 31, 2024, the total revenue from external customers was HKD 80,501,000, with contributions from construction services (HKD 61,129,000), property-related services (HKD 8,977,000), and luxury goods sales (HKD 10,395,000) [22] Assets and Liabilities - Total assets as of December 31, 2024, amounted to HKD 204,519,000, compared to HKD 184,883,000 in 2023, reflecting an increase of 10.6%[6] - Current liabilities increased from HKD 33,062,000 in 2023 to HKD 26,116,000 in 2024, a decrease of 21.0%[6] - The total liabilities decreased from HKD 33,062,000 in 2023 to HKD 26,116,000 in 2024, a decline of 21.0%[6] - The company’s long-term service liabilities decreased from HKD 827,000 in 2023 to HKD 741,000 in 2024, a reduction of 10.4%[6] - The total reportable segment assets amounted to HKD 188,328,000, while the reportable segment liabilities were HKD 26,857,000 as of December 31, 2024 [24] Cash Flow and Financial Position - Cash and bank balances rose from HKD 137,239,000 in 2023 to HKD 121,407,000 in 2024, a decrease of 11.5%[6] - The company recorded a bank interest income of HKD 2,290,000, with a significant portion coming from construction services (HKD 605,000) and property-related services (HKD 36,000) [24] - The total cash outflow for leases was HKD 1,472,000 for the year ending December 31, 2024, up from HKD 1,162,000 in 2023, indicating a year-over-year increase of about 26.7%[63] - The present value of lease liabilities for the upcoming year is HKD 675,000, while the total present value of lease payments is HKD 1,384,000[62] Employee Costs and Remuneration - Employee costs, including director remuneration, amounted to HKD 29,011 million for the year 2023, compared to HKD 30,562 million in 2022, reflecting a decrease of approximately 5.1%[33] - The total employee cost, including director remuneration, was approximately HKD 29 million, a decrease from approximately HKD 30.6 million in 2023[121] - Total remuneration for directors and senior management for the year 2024 is HKD 4,848 million, a decrease from HKD 6,442 million in 2023[78] Compliance and Governance - The group has adopted new and revised Hong Kong Financial Reporting Standards effective from January 1, 2024, with no significant impact on the current and prior periods' performance and financial position[13] - The group is committed to ensuring compliance with the latest financial reporting standards to maintain transparency and accuracy in financial reporting[18] - The company has adopted and complied with the corporate governance code as of December 31, 2024[127] - The audit committee consists of three independent non-executive directors, ensuring compliance with corporate governance standards[143] Future Outlook and Strategy - The group aims to diversify its product offerings and expand its customer base in the luxury goods sector to enhance market influence and profitability[92] - The group plans to continue monitoring market conditions and risks during the economic recovery phase to mitigate potential adverse impacts[96] - The group is exploring potential partnerships with new suppliers to expand its customer base and mitigate business risks[98] - The group’s strategy includes seeking diversification and exploring other investment opportunities beyond its current business focus[98] Related Party Transactions - The independent non-executive directors have reviewed the related party transactions and confirmed they are conducted within the normal course of business and on normal commercial terms[135] - The auditors have reported that they did not notice any issues that would lead them to believe the related party transactions were not approved by the board[137] Significant Events and Changes - There have been no significant events after the reporting period up to the date of this announcement[142] - The company has not made any significant investments or acquisitions during the fiscal year ending December 31, 2024[119]

Revenue Performance - Total revenue for construction and engineering services for the six months ended June 30, 2024, was approximately HK$24.6 million, a decrease of approximately 58.1% compared to HK$58.8 million for the same period in 2023[31]. - The Group's total revenue decreased by approximately HK$30.2 million or approximately 47.9% from approximately HK$63.0 million for the six months ended 30 June 2023 to approximately HK$32.8 million for the six months ended 30 June 2024[48]. - Revenue from construction and engineering services decreased by approximately HK$34.2 million or approximately 58.1% from approximately HK$58.8 million for the six months ended 30 June 2023 to approximately HK$24.6 million for the six months ended 30 June 2024[48]. - Revenue from property-related services increased by approximately HK$0.5 million from approximately HK$4.2 million for the six months ended 30 June 2023 to approximately HK$4.7 million for the six months ended 30 June 2024[48]. - The Group recorded revenue of approximately HK$3.5 million from luxury product sales for the six months ended 30 June 2024, accounting for approximately 10.6% of the Group's total revenue for the same period[48]. - For the six months ended June 30, 2024, the reportable segment revenue from external customers was HK$32,790,000, with contributions of HK$24,642,000 from construction and engineering services, HK$4,662,000 from property-related services, and HK$3,486,000 from sales of luxury products[113]. Market Conditions and Strategy - Approximately 80.6% of total revenue in the construction and engineering segment came from public sector projects, down from 97.6% in the same period of 2023[31]. - The Group faced increased competition, leading to a reduction in new contracts awarded during the period[31]. - Geotech Engineering continued to submit tenders cautiously to maintain a reasonable gross profit margin while remaining competitive[34]. - The strategy included focusing on project management and collaborating with subcontractors to undertake more construction projects[34]. - The Group is seeking to diversify into other types of civil engineering works by tendering projects jointly with partners[34]. - The Group's operational initiatives aim to adapt to the competitive market landscape in Hong Kong[34]. - The Group aims to expand its market presence by diversifying its product offerings and collaborating with various suppliers while maintaining a prudent business approach[39]. - The Group will adopt a cautious approach in developing its construction and decoration business in Cambodia, considering market circumstances[42]. - The property-related services market in Hong Kong is expected to remain challenging due to economic uncertainties, prompting the Group to seek various opportunities in this sector[42]. - The Group aims to seek other business opportunities related to material services due to the uncertainty in the Hong Kong economic environment[45]. - The Group's strategy includes expanding into luxury product sales to enhance revenue diversification and mitigate risks associated with its traditional segments[106]. Financial Performance - The Group's total gross profit for the six months ended June 30, 2024, was approximately HK$2.4 million, representing an increase of approximately 112.3% compared to approximately HK$1.1 million for the same period in 2023[51]. - The total gross profit margin for the six months ended June 30, 2024, was approximately 7.3%, compared to approximately 1.8% for the six months ended June 30, 2023[51]. - Gross profit from construction and engineering services for the six months ended June 30, 2024, amounted to approximately HK$0.1 million, a decrease of approximately 41.5% compared to approximately HK$0.2 million for the same period in 2023[51]. - Gross profit from property-related services for the six months ended June 30, 2024, was approximately HK$1.8 million, an increase of approximately HK$0.9 million compared to approximately HK$0.9 million for the same period in 2023[51]. - The profit margin for property-related services for the six months ended June 30, 2024, was approximately 39.6%, compared to approximately 21.7% for the same period in 2023[51]. - The net loss for the six months ended 30 June 2024 was approximately HK$8.1 million, compared to a net loss of approximately HK$6.5 million for the same period in 2023, representing an increase in the net loss margin from approximately 10.3% to 24.8%[57]. - The total loss for the period was HK$8.13 million, compared to a loss of HK$6.52 million in the same period last year, reflecting an increase in loss of approximately 24.7%[68]. Operational Metrics - As of June 30, 2024, the Group had 47 construction contracts on hand with a total outstanding contract sum of approximately HK$160.0 million, down from approximately HK$179.1 million as of December 31, 2023[35]. - The Group had no borrowings as of June 30, 2024, maintaining a gearing ratio of approximately 0.6%, down from approximately 0.8% as of December 31, 2023[58]. - Total staff costs for the six months ended 30 June 2024 amounted to approximately HK$13.4 million, a decrease from approximately HK$15.0 million for the same period in 2023[60]. - The Group's payroll included 58 full-time employees as of June 30, 2024, down from 65 full-time employees as of December 31, 2023[60]. - The Group's lease liabilities as of June 30, 2024, were approximately HK$1.0 million, compared to approximately HK$1.4 million as of December 31, 2023[57]. - The company generated net cash used in operating activities of HK$16,791 for the six months ended June 30, 2024, compared to HK$18,163 in the prior year[88]. Assets and Liabilities - As of June 30, 2024, total assets amounted to HK$186,655, a decrease of 8.7% from HK$204,519 as of December 31, 2023[70]. - Net current assets were HK$164,002, down from HK$171,457, reflecting a decline of 4.3%[70]. - Total equity as of June 30, 2024, was HK$168,824, down from HK$176,930 as of December 31, 2023, indicating a decrease of 4.6%[70]. - The reserves account showed a balance of HK$152,024, down from HK$160,130 as of December 31, 2023, reflecting a decrease of 5.0%[86]. - Trade receivables amounted to HK$2,560,000, a decrease from HK$9,595,000 as of December 31, 2023[177]. - Retention receivables decreased from HK$12,559,000 as of December 31, 2023, to HK$10,871,000 as of June 30, 2024[179]. - Other receivables increased from HK$21,074,000 as of December 31, 2023, to HK$24,654,000 as of June 30, 2024[179]. Risk Management - The Group will continue to monitor market risks and uncertainties, taking strict measures to mitigate potential adverse impacts[43]. - The Group will continue to adopt a cautious approach to inventory management of luxury goods to reduce costs amid economic uncertainties[45]. - The Group's management conducted an impairment assessment on amounts due from joint operators, recognizing an allowance of approximately HK$16,372,000[181]. - The company continues to operate primarily in Hong Kong, with no segment analysis by geographical location presented in the report[126].

Financial Performance - The company's revenue for the six months ending June 30, 2024, was approximately HKD 32.8 million, a decrease of about 47.9% compared to HKD 63 million for the same period in 2023[1] - The loss attributable to equity holders for the six months ending June 30, 2024, was approximately HKD 8.1 million, compared to a loss of HKD 6.5 million for the same period in 2023, representing a 24.6% increase in losses[1] - The basic and diluted loss per share for the six months ending June 30, 2024, was approximately HKD 0.48, compared to HKD 0.39 for the same period in 2023, indicating a 23.1% increase in loss per share[1] - The gross profit for the six months ending June 30, 2024, was HKD 2.4 million, significantly up from HKD 1.1 million for the same period in 2023, reflecting a 112.4% increase[2] - Total comprehensive income for the six months ending June 30, 2024, included other income of HKD 2.5 million, down from HKD 3.1 million in the same period in 2023, a decrease of 17.0%[2] - Administrative expenses for the six months ending June 30, 2024, were HKD 12.9 million, an increase from HKD 10.6 million in the same period in 2023, representing a 21.8% rise[2] - The group reported a total segment loss of HKD 4,626 thousand for the six months ending June 30, 2024, compared to a profit in the previous period[10] - The company reported a loss before tax of HKD 6,464 million, reflecting challenges in operational efficiency[11] - The net loss for the six months ended June 30, 2024, was approximately HKD 8.1 million, compared to approximately HKD 6.5 million for the same period in 2023, resulting in a net loss margin of approximately 24.8%[60] Revenue Breakdown - Revenue from construction and engineering services was HKD 24,642 thousand, down from HKD 58,831 thousand year-on-year, indicating a decline of approximately 58%[9] - The luxury goods sales segment generated HKD 3,486 thousand in revenue, marking the introduction of a new reporting segment for the group[10] - Revenue from property management consulting and leasing services for the six months ended June 30, 2024, was HKD 2,697,000, an increase from HKD 2,280,000 in the same period of 2023, reflecting an 18.3% growth[36] - Revenue from property-related services increased by approximately HKD 0.5 million to approximately HKD 4.7 million for the six months ending June 30, 2024, with rental agency fees contributing approximately HKD 2.7 million[50] - The luxury goods sales segment recorded revenue of approximately HKD 3.5 million, accounting for about 10.6% of the group's total revenue for the six months ending June 30, 2024[51] Assets and Liabilities - The total assets as of June 30, 2024, were approximately HKD 186.7 million, down from HKD 204.5 million as of December 31, 2023, indicating a decrease of 8.7%[4] - The total liabilities as of June 30, 2024, were approximately HKD 22.6 million, compared to HKD 33.1 million as of December 31, 2023, reflecting a decrease of 31.7%[4] - The company's net asset value as of June 30, 2024, was approximately HKD 168.8 million, down from HKD 176.9 million as of December 31, 2023, a decline of 4.6%[4] - The total liabilities for trade payables, retention payables, and accrued expenses amounted to HKD 19,860,000 as of June 30, 2024, down from HKD 27,841,000 as of December 31, 2023[30] Employee and Administrative Costs - Employee costs, including director remuneration, amounted to 13,409,000 HKD for the six months ended June 30, 2024, down from 15,026,000 HKD in 2023, representing a reduction of 10.7%[19] - The total employee cost was approximately HKD 13.4 million, compared to HKD 15 million for the same period ending June 30, 2023, reflecting a decrease of about 10.67%[69] - The company had 58 full-time employees as of June 30, 2024, down from 65 full-time employees as of December 31, 2023, indicating a reduction of approximately 10.77%[69] - Administrative expenses for the six months ended June 30, 2024, were approximately HKD 12.9 million, an increase of about 21.5% compared to approximately HKD 10.6 million for the same period in 2023[57] Dividends and Shareholder Returns - The board has resolved not to declare any interim dividend for the six months ending June 30, 2024, consistent with the previous year[1] - The company did not declare or pay any dividends for the six months ended June 30, 2024, consistent with the same period in 2023[22] - The company did not recommend any interim dividend for the six months ended June 30, 2024, consistent with the same period in 2023[61] Corporate Governance and Compliance - The company has adopted and complied with the corporate governance code as of June 30, 2024, and will regularly review its corporate governance policies[74] - All directors confirmed compliance with the standard rules for securities trading as of June 30, 2024[75] - The company has not issued any stock options since September 21, 2017, under the stock option plan[78] Future Outlook and Strategy - The group aims to diversify its revenue base through the expansion into luxury goods sales, which is expected to provide new income sources[10] - The group plans to continue monitoring market conditions and seek business opportunities in property-related services due to uncertainties in the Hong Kong economic environment[47] - The group aims to balance winning bids with reasonable gross margins while exploring partnerships for civil engineering projects[46] - The group will adopt a cautious approach to inventory management in the luxury goods segment to reduce costs and mitigate business risks[47]

Revenue Performance - For the year ended December 31, 2023, the Group's revenue decreased by 52.2% from approximately HK$281.5 million in 2022 to approximately HK$134.6 million in 2023[13] - Total revenue for construction and engineering services decreased by approximately 55.1% to HK$122.8 million for the year ended December 31, 2023, compared to HK$273.4 million in the previous year[26] - The completion of certain major slope works projects significantly impacted the revenue decline, as newly awarded projects were still in the early stages[13] - Revenue from property-related services grew by 4.0%, increasing from approximately HK$8.1 million in 2022 to approximately HK$8.4 million in 2023[13] - Revenue from property-related services was approximately HK$8.4 million, a slight increase from HK$8.0 million in 2022, with property management consultancy services contributing approximately HK$4.6 million[35] - The Group recorded revenue of approximately HK$3.4 million from luxury product sales in 2023, accounting for approximately 2.5% of total revenue[51] Profitability and Gross Profit - The Group's total gross profit for 2023 amounted to approximately HK$3.6 million, representing a decrease of 5.1% compared to approximately HK$3.8 million in 2022[57] - The gross profit margin for 2023 was approximately 2.7%, an increase from approximately 1.3% in 2022[57] - Gross profit from construction and engineering services for the year ended 31 December 2023 was approximately HK$0.2 million, a decrease of approximately 68% compared to HK$0.8 million for the year ended 31 December 2022[58] - Gross profit from property-related services for the year ended 31 December 2023 was approximately HK$2.4 million, down approximately HK$0.6 million from HK$3 million for the year ended 31 December 2022, with a gross profit margin of 28.2% compared to 37.3% in the previous year[59] - Gross profit from sales of luxury products amounted to approximately HK$1 million with a gross profit margin of 28.6%[60] Strategic Focus and Future Outlook - The Group anticipates challenging prospects for its construction and engineering services and property-related services in the coming years[14] - The Group will focus on improving profitability and formulating long-term business strategies, particularly for site formation and ground investigation works[14] - The Group aims to optimize and diversify its business operations while exploring other appropriate business opportunities to strengthen its revenue base[15] - The Group's new business segment for luxury products was launched in the fourth quarter of 2023, indicating a strategic shift to capture market growth opportunities[12] - The luxury product market in Hong Kong is expected to create long-term opportunities following the easing of COVID-19 restrictions and the reopening of borders[37] - The Group is focusing on the luxury watches segment, targeting mid-to-high-end customers while maintaining a high-quality service commitment[38] - The Group aims to expand its market presence by diversifying its product offerings and collaborating with various suppliers[39] Financial Position and Cash Flow - As of 31 December 2023, the Group had total cash and bank balances of approximately HK$137.2 million, down from approximately HK$167.2 million as of 31 December 2022[81] - The Group's total borrowings as of December 31, 2023, were approximately HK$1.4 million, with a gearing ratio of approximately 0.8%, up from 0.3% as of December 31, 2022[89] - Other income for the year ended 31 December 2023 was approximately HK$4.9 million, a decrease from approximately HK$5.9 million in 2022, primarily due to the absence of a government grant of approximately HK$1.8 million[61] - The planned use of net proceeds for the acquisition of site facilities and equipment was HK$9.649 million, with actual usage at HK$4.359 million, leaving HK$5.290 million unused as of December 31, 2023[113] Governance and Management - The company has adopted and complied with the Corporate Governance Code during the year ended December 31, 2023[140] - The Board consists of five members, including two executive Directors and three independent non-executive Directors[151] - The company has established Board committees, including the Audit Committee, Nomination Committee, and Remuneration Committee[150] - The company aims to achieve board diversity by considering factors such as gender, age, and experience[153] - The company has a dividend policy that considers the general financial condition, capital and debt levels, future cash requirements, and market conditions before proposing dividends[167] - The independent non-executive directors have confirmed their independence and are free from any relationships that could interfere with their judgment[177] Employee and Staff Information - As of December 31, 2023, the Group had a total of 65 full-time employees, comprising 47 males and 18 females, resulting in a male to female ratio of approximately 2.6:1[165] - The total staff costs for the year ended December 31, 2023, amounted to approximately HK$30.6 million, an increase from approximately HK$28.7 million for the year ended December 31, 2022[101] Legal and Compliance - The company believes that ongoing legal claims will not have a significant adverse impact on its operations and financial condition, and no provisions are required in the consolidated financial statements[108] - The company has confirmed compliance with the Model Code for Securities Transactions by Directors during the year ended December 31, 2023[142]

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 的 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 對 因 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 的 任 何 損 失 承 擔 任 何 責 任。 Geotech Holdings Ltd. 致浩達控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：1707） 截 至 二 零 二 三 年 十 二 月 三 十 一 日 止 年 度 的 年 度 業 績 公 告 財 務 摘 要 – 1 – • 截 至 二 零 二 三 年 十 二 月 三 十 一 日 止 年 度 本 集 團 的 收 益 為 約1 億3,460 萬 港 元（二 零 二 二 年：約2億8,150萬 港 元）。 • 截 至 二 零 二 三 年 十 二 月 三 十 一 日 止 年 度 本 集 團 的 毛 利 為 約360萬 港 元（二 零 二 二 年：約380萬 港 元）。 • 截 至 二 零 二 三 年 十 ...

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的內容概不負責，對其準確性或完 整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因倚賴該等內 容而引致的任何損失承擔任何責任。 Geotech Holdings Ltd. 致 浩 達 控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：1707） 截至二零二三年六月三十日 止六個月的中期業績公告 財務摘要 • 本集團於截至二零二三年六月三十日止六個月的收益為約6,300萬港元（截至二零二二年六月 三十日止六個月：約1億6,930萬港元）。 • 截至二零二三年六月三十日止六個月，本公司權益持有人應佔虧損為約650萬港元（截至二零 二二年六月三十日止六個月：約1,930萬港元）。 • 截至二零二三年六月三十日止六個月，每股基本及攤薄虧損為約0.39港仙（截至二零二二年六 月三十日止六個月：約1.15港仙）。 • 董事已議決不宣派於截至二零二三年六月三十日止六個月的任何中期股息（截至二零二二年六 月三十日止六個月：無）。 ...

Financial Performance - For the year ended December 31, 2022, the Group's revenue decreased by 26.8% from approximately HK$384.4 million in 2021 to approximately HK$281.5 million in 2022[14]. - The decrease in overall revenue was primarily due to a reduction in new contracts awarded during the year[14]. - Total revenue for construction and engineering services for the year ended 31 December 2022 was approximately HK$273.4 million, a decrease of approximately 27.6% compared to HK$377.4 million in the previous year[25]. - Revenue from construction and engineering services decreased by approximately HK$104.0 million or approximately 27.6%, from approximately HK$377.4 million in 2021 to approximately HK$273.4 million in 2022, primarily due to a reduction in new contracts awarded[43]. - Revenue from property-related services increased by approximately HK$1.1 million, from approximately HK$7.0 million in 2021 to approximately HK$8.1 million in 2022, mainly due to increased consultancy fees from renewed agreements[44]. - The Group's total revenue decreased by approximately HK$102.9 million or approximately 26.8%, from approximately HK$384.4 million in 2021 to approximately HK$281.5 million in 2022[42]. Profitability - The gross profit for the construction and engineering segment increased from approximately HK$0.6 million in 2021 to approximately HK$0.8 million in 2022, attributed to a smaller loss from ongoing contracts[14]. - The Group's total gross profit for 2022 amounted to approximately HK$3.8 million, representing an increase of 46.2% compared to approximately HK$2.6 million in 2021[50]. - The gross profit margin for the Group in 2022 was approximately 1.3%, up from approximately 0.7% in 2021[50]. - Gross profit from construction and engineering services increased by approximately 33.3% to approximately HK$0.8 million in 2022, with a gross profit margin of approximately 0.3%[51]. - Gross profit from property-related services increased by approximately HK$0.9 million to approximately HK$3.0 million in 2022, with a gross profit margin of approximately 37.3%[52]. Operational Strategy - The Group will continue to review its existing operations to formulate long-term business strategies, particularly in site formation and ground investigation works[15]. - The Group aims to explore or seek other business opportunities to strengthen and consolidate its revenue base[15]. - The Group anticipates a challenging outlook for its construction and engineering services and property-related services in the coming years[15]. - The Group has resumed tendering for LPM projects as the suspension was lifted, focusing on both public and private sector geotechnical works[35]. - The Group's strategy includes competitive pricing to maintain competitiveness in the slope works sector despite challenges in securing new contracts[35]. - The Group aims to diversify its business by exploring opportunities in other types of civil engineering works and joint tendering with partners[35]. Employee and Management - The Group's employee count decreased to 62 full-time employees as of December 31, 2022, down from 91 employees in the previous year[91]. - Total staff costs for the year ended December 31, 2022, were approximately HK$28.1 million, a decrease from approximately HK$30.3 million in 2021[91]. - The company has a diverse management team with extensive experience in finance, engineering, and corporate governance, enhancing its operational capabilities[127]. - The leadership team is committed to enhancing operational efficiency and driving the company's strategic initiatives forward[127]. - The company emphasizes compliance and governance, with several members holding key positions in various committees[120]. Corporate Governance - The company emphasizes the importance of maintaining high standards of corporate governance to enhance shareholder value and safeguard stakeholder interests[134]. - The company has complied with the Corporate Governance Code during the year ended December 31, 2022[135]. - The Board consists of five members, including two executive directors and three independent non-executive directors, with independent directors representing more than one-third of the Board[172]. - The independent non-executive directors have confirmed their independence and are free from any relationships that could interfere with their judgment[174]. - The Company has established a nomination policy to identify qualified individuals for Board membership, ensuring a balance of skills and diversity[164]. Financial Position - As of December 31, 2022, the Group had total cash and bank balances of approximately HK$167.2 million, down from approximately HK$186.3 million as of December 31, 2021[72]. - The gearing ratio as of December 31, 2022, was approximately 0.3%, a decrease from approximately 0.6% as of December 31, 2021, due to lower total indebtedness from lease liabilities repayment[79]. - The net loss for the year ended December 31, 2022, amounted to approximately HK$31.7 million, an increase from a net loss of approximately HK$14.3 million in 2021, resulting in a net loss margin of approximately 11.3%[69]. - An impairment under expected credit loss (ECL) allowance on trade and other receivables of approximately HK$18.3 million was recognized for the year ended December 31, 2022, compared to a reversal of approximately HK$5.8 million in 2021[61]. Future Outlook - The Group plans to diversify and explore other investment opportunities while closely monitoring market risks and uncertainties during the economic recovery cycle[41]. - The Group will adopt a cautious approach in developing its construction and decoration business in Cambodia in 2023, considering market conditions[40]. - The Group expects to use the remaining net proceeds within one year according to actual business needs[102].

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的內容概不負責，對其準確性或完 整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因倚賴該等內 容而引致的任何損失承擔任何責任。 Geotech Holdings Ltd. 致 浩 達 控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：1707） 截至二零二二年十二月三十一日 止年度的年度業績公告 財務摘要 • 截至二零二二年十二月三十一日止年度本集團的收益為約2億8,150萬港元（二零二一年：約3 億8,440萬港元）。 • 截至二零二二年十二月三十一日止年度本集團的毛利為約380萬港元（二零二一年：約260萬港 元）。 • 截至二零二二年十二月三十一日止年度本公司權益持有人應佔虧損為約3,170萬港元（二零 二一年：約1,430萬港元）。 • 截至二零二二年十二月三十一日止年度每股基本及攤薄虧損為約1.89港仙（二零二一年：約 0.85港仙）。 ...

Revenue Performance - Total revenue for construction and engineering services was approximately HKD 165.4 million for the six months ended June 30, 2022, a decrease of about 9.9% compared to HKD 183.5 million for the same period in 2021[21]. - Total revenue decreased by approximately HKD 17.3 million or 9.3% to approximately HKD 169.3 million for the six months ended June 30, 2022, compared to approximately HKD 186.6 million for the same period in 2021[32]. - Revenue from construction and engineering services decreased by approximately HKD 18.1 million or 9.9% to approximately HKD 165.4 million for the six months ended June 30, 2022, primarily due to a reduction in new contracts obtained since the second half of 2021[33]. - Revenue from property-related services increased by approximately HKD 0.8 million to approximately HKD 3.9 million for the six months ended June 30, 2022, driven by contract renewals in property management consulting services[34]. - For the six months ended June 30, 2022, the company reported revenue of HKD 169,251 thousand, a decrease of 9.3% from HKD 186,588 thousand in the same period of 2021[72]. - The construction and engineering services segment generated revenue of HKD 165,364,000, down 9.9% from HKD 183,522,000 in the prior year[103]. - The property-related services segment reported revenue of HKD 3,887,000, an increase of 27% from HKD 3,066,000 in the previous year[103]. Profitability and Loss - Gross profit increased by approximately 122.2% to approximately HKD 2 million for the six months ended June 30, 2022, compared to approximately HKD 0.9 million for the same period in 2021[35]. - Gross profit margin improved to approximately 1.2% for the six months ended June 30, 2022, compared to approximately 0.5% for the same period in 2021[35]. - For the six months ended June 30, 2022, the net loss was approximately HKD 19.3 million, compared to a net loss of approximately HKD 10.6 million for the same period in 2021, resulting in a net loss margin of about 11.4%[46]. - The company incurred a loss before tax of HKD 19,239 thousand, which is an increase of 94.5% from a loss of HKD 9,918 thousand in the previous year[72]. - The total comprehensive loss attributable to equity holders for the period was HKD 19,548 thousand, compared to HKD 10,591 thousand in the prior year, reflecting a 84.5% increase in losses[72]. - The company reported a loss before tax of HKD 19,344,000 for the six months ended June 30, 2022, compared to a loss of HKD 10,620,000 for the same period in 2021, representing an increase in loss of approximately 82%[132]. Cost Management - Administrative expenses decreased by approximately 29.4% to approximately HKD 9.6 million for the six months ended June 30, 2022, compared to approximately HKD 13.6 million for the same period in 2021[40]. - The total employee costs for the six months ended June 30, 2022, were approximately HKD 12.9 million, down from approximately HKD 16.6 million for the same period in 2021, reflecting a reduction of about 22%[57]. - Employee costs, including directors' remuneration, decreased to HKD 12,916,000 in 2022 from HKD 16,609,000 in 2021, a reduction of about 22%[132]. Financial Position - As of June 30, 2022, the group's cash and bank balances totaled approximately HKD 185.3 million, slightly down from approximately HKD 186.3 million as of December 31, 2021[49]. - The capital debt ratio as of June 30, 2022, was approximately 0.4%, a decrease from about 0.6% as of December 31, 2021, due to repayment of lease liabilities[51]. - The group had no bank borrowings as of June 30, 2022, maintaining a conservative financial management approach[49]. - The company’s net asset value as of June 30, 2022, was HKD 206,140 thousand, down from HKD 225,688 thousand at the end of 2021, indicating a decline of 8.7%[77]. - Total assets as of June 30, 2022, amounted to HKD 256,109 thousand, down from HKD 297,879 thousand as of December 31, 2021, representing a decrease of 14.0%[74]. - Current liabilities decreased to HKD 51,422 thousand from HKD 73,730 thousand, a reduction of 30.2%[74]. - The company reported a decrease in trade and other receivables to HKD 60,700 thousand from HKD 94,927 thousand, a decline of 36.0%[74]. Risk Management - The group faced challenges in its construction and renovation business in Cambodia due to the ongoing pandemic, focusing on reducing employee costs to lower operating expenses[25]. - The group faced foreign exchange risk primarily from cash and bank deposits denominated in USD, amounting to approximately HKD 37.1 million as of June 30, 2022[55]. - The group adopted strict preventive measures in its sites and offices to mitigate risks associated with the COVID-19 outbreak, which did not significantly impact operations in Hong Kong[24]. Strategic Initiatives - The group implemented a competitive pricing strategy to maintain competitiveness in the slope engineering segment during the reporting period[24]. - The group continued to focus on project management responsibilities and outsourced most required works to subcontractors to undertake more construction projects[24]. - The company plans to continue diversifying its business strategy to enhance future development and revenue base[28]. - The company will closely monitor the market conditions in the construction and engineering services sector and respond accordingly to changes[29]. - The group successfully resumed bidding for public sector LPM projects after the lifting of a suspension imposed by regulatory authorities[24]. Shareholder Information - The ownership interest of Mr. Chan in the company is approximately 54.79%, holding 920,480,000 shares through a controlled corporation[185]. - As of June 30, 2022, the major shareholder, Xingyou, holds 920,480,000 shares, representing approximately 54.79% of the company's equity[188]. - The total number of issued and paid-up shares is 1,680,000,000, unchanged from December 31, 2021[164]. Compliance and Governance - The company has complied with the corporate governance code and has adopted all code provisions as its own corporate governance practices[196]. - The company has not identified any significant issues that would affect the preparation of the financial statements in accordance with Hong Kong Accounting Standards[69]. - The company is currently evaluating the potential impact of new and revised Hong Kong Financial Reporting Standards on its financial statements[97]. - The company’s management has indicated that the revised accounting standards are not expected to have a significant impact on the interim financial statements[97].