Financial Performance - The company's revenue increased by approximately 38.0% from about HKD 257.4 million in 2018 to approximately HKD 355.3 million in 2019, with around HKD 2 million coming from property-related services introduced in August 2019[22]. - Despite the revenue growth, the company recorded a net loss of approximately HKD 12.5 million in 2019, compared to a net profit of approximately HKD 5.3 million in 2018, primarily due to a significant decline in gross profit and increased administrative expenses[22]. - Total revenue for construction and engineering services reached approximately HKD 353.3 million, an increase of about 37.3% compared to last year's revenue of approximately HKD 257.4 million[29]. - The total revenue of the group increased by approximately HKD 97.9 million or about 38.0% to approximately HKD 355.3 million for the year ended December 31, 2019, compared to approximately HKD 257.4 million for the year ended December 31, 2018[39]. - Revenue from construction and engineering services rose significantly by approximately HKD 95.9 million or about 37.3% to approximately HKD 353.3 million for the year ended December 31, 2019[40]. - The gross profit for the group decreased by approximately HKD 1.35 million or about 55.4% to approximately HKD 10.9 million for the year ended December 31, 2019, with a gross profit margin of approximately 3.1%[42]. - The gross profit from construction and engineering services was approximately HKD 10.5 million, a decrease of about 57.0% compared to approximately HKD 24.4 million for the year ended December 31, 2018[45]. - Other income increased to approximately HKD 5.2 million for the year ended December 31, 2019, compared to approximately HKD 4.2 million for the year ended December 31, 2018[47]. - Administrative expenses increased by approximately 30.2% to about HKD 29.4 million for the year ended December 31, 2019, primarily due to business expansion and increased employee costs[48]. - The net loss attributable to equity holders was approximately HKD 12.5 million for the year ended December 31, 2019, compared to a profit of approximately HKD 5.3 million for the year ended December 31, 2018[52]. Business Expansion and Strategy - The company has expanded its business into property-related services to diversify its revenue base and provide stable cash flow[22]. - The company established a subsidiary in Cambodia to expand construction and decoration engineering services, leveraging its experience in the Hong Kong construction industry[23]. - The company anticipates a challenging outlook for its construction and engineering services in the coming years and is actively exploring other opportunities for long-term development[22]. - The company plans to continue reviewing its operations and business strategies to identify or seek new business opportunities to strengthen its revenue base[23]. - The company has expanded its business into property-related services, anticipating increased demand due to rising property supply in Hong Kong[33]. - The company established a wholly-owned subsidiary in Cambodia in February 2019 to explore business opportunities in the construction and decoration engineering sector[37]. - The net proceeds from the placement of new shares in June 2019 amounted to approximately HKD 88.7 million, which the company is seeking to invest in potential opportunities[37]. - The company plans to adopt an active pricing strategy to maintain competitiveness in the increasingly competitive slope engineering sector[29]. - The company aims to diversify its revenue base and enhance long-term development by seeking suitable development opportunities beyond the Hong Kong market[36]. Environmental Sustainability - The company is committed to environmental sustainability and has implemented environmental management plans in its operations[67]. - The company recognizes the importance of environmental protection, achieving certification in environmental management (ISO 14001:2015)[172]. - The company successfully renewed its ISO 9001:2015 and ISO 14001:2015 certifications, indicating a commitment to quality and environmental management[175]. - The company reported a reduction in nitrogen oxides emissions from 245,432.65 grams in 2018 to 222,678.87 grams in 2019, representing a decrease of approximately 9.2%[190]. - Sulfur oxides emissions increased from 1,264.72 grams in 2018 to 1,730.50 grams in 2019, showing an increase of about 36.8%[190]. - The company achieved a reduction in particulate matter emissions from 19,728.55 grams in 2018 to 16,862.19 grams in 2019, a decrease of approximately 14.2%[190]. - Greenhouse gas emissions from vehicle usage increased from 203,646.30 kg in 2018 to 278,383.55 kg in 2019, an increase of about 36.6%[192]. - The company reported a decrease in indirect greenhouse gas emissions from electricity consumption from 104,987.61 kg CO2 equivalent in 2018 to 102,899.16 kg CO2 equivalent in 2019, a reduction of approximately 2%[192]. - The company has not generated any hazardous waste during the reporting period[185]. - The company has implemented various waste management strategies, including reusing construction materials and recycling metal waste[181]. - The company has established five waste reduction goals to minimize environmental impact[181]. - The company has not received any complaints regarding environmental violations during the reporting period[184]. - The total harmless waste disposed of in 2019 was 9,262.80 tons, showing a slight decrease from 9,266.60 tons in 2018[194]. - The harmless waste density increased significantly to 617.52 tons per construction project in 2019 from 386.11 tons in 2018[194]. - Total electricity consumption in 2019 was 163,332.00 kWh, down from 166,647.00 kWh in 2018[198]. - Electricity density increased to 27,222.00 kWh per office in 2019 from 20,830.88 kWh in 2018[198]. - Total water consumption in 2019 was 6,976.00 cubic meters, a substantial decrease from 36,055.00 cubic meters in 2018[199]. - Water density decreased to 872.00 cubic meters per office in 2019 from 3,004.58 cubic meters in 2018[199]. - The company received the "Healthy Workplace" award from the World Green Organization in 2019, recognizing its efforts in establishing a green office[197]. - The company implemented measures to reduce energy consumption and promote recycling among employees[196]. - The company encourages employees to bring their own lunch to reduce the use of disposable containers[196]. - The company faced no issues in sourcing water for its operations during the review year[197]. Corporate Governance - The company has adopted the corporate governance code as per the Listing Rules, ensuring compliance with the relevant guidelines[100]. - The board of directors has established three committees: the Audit Committee, the Nomination Committee, and the Remuneration Committee to oversee specific areas of the company's affairs[102]. - The company confirmed that all directors complied with the standards of the code for securities trading during the year ending December 31, 2019[101]. - The company emphasizes the importance of maintaining high levels of corporate governance to enhance shareholder value and protect the interests of stakeholders[99]. - The company has a commitment to regular reviews of its corporate governance policies to ensure ongoing compliance with the corporate governance code[100]. - The company has a diverse board with members possessing extensive experience across various sectors, enhancing its governance and strategic oversight capabilities[92]. - The board of directors consists of seven members, including three executive directors and four independent non-executive directors[103]. - The company has adopted a board diversity policy, considering factors such as gender, age, cultural background, and professional experience to enhance board effectiveness[105]. - The company has a dividend policy that takes into account financial condition, capital and debt levels, future cash needs, and market conditions when determining dividend recommendations[108]. - The roles of the chairman and CEO are separated to comply with corporate governance codes, with the chairman overseeing overall business development and the CEO managing daily operations[112]. - The company has four independent non-executive directors, meeting the listing rules' requirements, and they are independent of management[113]. - The board is responsible for developing and reviewing corporate governance policies and ensuring compliance with legal and regulatory requirements[118]. - The company provides appropriate insurance for all directors to cover their responsibilities[119]. - The company held nine board meetings and one shareholders' meeting during the year ended December 31, 2019[127]. - The Audit Committee conducted two meetings to review the group's financial performance for board approval[132]. - The company provided comprehensive onboarding materials to newly appointed directors to ensure understanding of operations and responsibilities[125]. - All directors participated in ongoing professional development to enhance their knowledge and skills[126]. - The Audit Committee was composed of four members, including the chairman, who oversaw the completeness of the group's financial statements[132]. - The company had no disagreements with the Audit Committee regarding the appointment of external auditors during the year[132]. - The company encourages directors to seek external professional advice when necessary[127]. - The company plans to hold at least four regular board meetings annually, with additional meetings arranged as needed[127]. - The company provided training records for directors, indicating participation in various training types[126]. - The company established three board committees: Audit Committee, Nomination Committee, and Remuneration Committee, to oversee specific areas of company affairs[130]. - The external auditor, Crowe (HK) CPA Limited, received a total fee of HKD 840,000 for audit services and HKD 236,000 for non-audit services in the year ended December 31, 2019[137]. - The board of directors confirmed that the consolidated financial statements for the year ended December 31, 2019, were prepared in accordance with relevant accounting standards and regulations, with no significant uncertainties affecting the company's ability to continue as a going concern[140]. - The Nomination Committee held one meeting during the year to provide recommendations on the appointment of new directors and the composition of the board[142]. - The Remuneration Committee conducted one meeting to review and recommend the remuneration of individual directors based on their performance and contributions[148]. - The company has established guidelines and procedures for approving and controlling expenditures to ensure the reliability of financial reporting and compliance with applicable laws[154]. - The company has engaged CT Partners Consultants Limited to review the effectiveness and efficiency of its financial, operational, and compliance control risk management and internal control systems, with no significant issues identified[156]. - The board has adopted recommendations from CT Partners to improve internal controls and risk management, enhancing the overall risk management framework[156]. - The company emphasizes effective communication with shareholders and potential investors, ensuring timely access to comprehensive and understandable information regarding financial performance and strategic objectives[162]. - The company has a shareholder communication policy to ensure equal access to information for all shareholders and potential investors[162]. - The company has a dedicated website to provide the latest information on its operations, financial data, and corporate governance practices[162]. - The company has adopted a policy for the disclosure of inside information to ensure compliance with confidentiality regulations[157].

Financial Performance - The group's revenue increased by approximately HKD 68.6 million or about 60.7% to HKD 181.7 million for the six months ended June 30, 2019, compared to HKD 113.1 million for the same period in 2018[25]. - Gross profit for the six months ended June 30, 2019, was approximately HKD 9.3 million, a decrease of about 25.6% from HKD 12.5 million for the same period in 2018, resulting in a gross margin of approximately 5.1%[26]. - The net loss attributable to equity holders for the six months ended June 30, 2019, was approximately HKD 3 million, compared to a profit of HKD 3.4 million for the same period in 2018, resulting in a net loss margin of approximately 1.7%[33]. - The company reported a loss of HKD 3,045,000 for the six months ended June 30, 2019, compared to a profit of HKD 3,354,000 in the previous year[59]. - Basic and diluted loss per share for the period was HKD (0.21), compared to earnings of HKD 0.24 per share in 2018[59]. - The company reported a total comprehensive income of HKD 3,316,000 for the six months ended June 30, 2019, compared to HKD 186,485,000 for the same period in 2018[77]. Revenue and Income Sources - The group reported contract revenue of HKD 181,741,000 for the six months ended June 30, 2019, representing a 60.5% increase from HKD 113,073,000 in the same period of 2018[106]. - Other income increased to approximately HKD 2.5 million for the six months ended June 30, 2019, compared to HKD 1.8 million for the same period in 2018, primarily due to increased bank interest and security consulting income[29]. - Other income for the six months ended June 30, 2019, totaled HKD 2,481,000, up from HKD 1,752,000 in the same period of 2018, reflecting a 41.6% increase[111]. Expenses and Liabilities - Administrative expenses rose by approximately 46.9% to HKD 14.5 million for the six months ended June 30, 2019, from HKD 9.9 million for the same period in 2018[30]. - The group incurred finance costs of HKD 73,000 for the six months ended June 30, 2019, compared to HKD 148,000 in the same period of 2018, showing a reduction of 50.7%[112]. - The total income tax expense for the six months ended June 30, 2019, was HKD 226,000, a decrease from HKD 861,000 in the same period of 2018, representing a decline of 73.8%[120]. - The group reported a significant increase in subcontracting expenses, which amounted to HKD 159,142,000 for the six months ended June 30, 2019, compared to HKD 82,530,000 in the same period of 2018, reflecting a rise of 92.8%[114]. Cash and Assets - As of June 30, 2019, the group's cash and bank balances totaled approximately HKD 155.3 million, an increase from approximately HKD 82.3 million as of December 31, 2018[36]. - As of June 30, 2019, total assets amounted to HKD 317,421,000, an increase from HKD 238,198,000 as of December 31, 2018, representing a growth of approximately 33.3%[63]. - The company's cash and bank balances increased significantly to HKD 155,292,000 from HKD 82,347,000, marking an increase of 88.6%[83]. - Trade and other receivables increased to HKD 104,317,000 from HKD 97,700,000, reflecting a growth of approximately 6.5%[63]. Shareholder and Capital Information - The company completed a share placement on June 17, 2019, issuing 280,000,000 shares at a price of HKD 0.32 per share, raising approximately HKD 88,700,000 net of expenses[49]. - The net proceeds from the company's listing in 2017 amounted to approximately HKD 72,800,000, with planned uses including the acquisition of land and facilities[48]. - As of June 30, 2019, the unutilized net proceeds amounted to HKD 16,729,000, which is expected to be used as planned[48]. Corporate Governance and Compliance - The company has adopted and complied with the corporate governance code as per the listing rules during the six months ending June 30, 2019[188]. - The audit committee confirmed compliance with applicable accounting standards and regulations, ensuring adequate disclosure of the financial performance[192]. - The interim financial statements for the six months ended June 30, 2019, were prepared in accordance with the Hong Kong Financial Reporting Standards and the relevant disclosure requirements[88]. Accounting Standards and Changes - The group has adopted the new accounting policies effective from January 1, 2019, with no significant impact on the performance and financial position for the current and prior periods[91]. - The application of HKFRS 16 resulted in a reclassification of certain sublease agreements to finance leases, impacting the financial position of the group[95]. - The cumulative impact of the first-time application of HKFRS 16 was recognized on January 1, 2019, affecting the accounting policies and amounts recognized in the interim financial statements[92].

Financial Performance - The company's revenue for the fiscal year 2018 decreased by approximately 6.7%, from about HKD 275,813,000 in 2017 to approximately HKD 257,413,000 in 2018[22]. - The net profit for 2018 was approximately HKD 5,337,000, representing a decrease of about 43.9% compared to the previous year[22]. - The decline in revenue was attributed to fewer engineering project contracts obtained and initiated in 2018 compared to 2017, as well as a more aggressive pricing strategy adopted to maintain competitiveness[22]. - The gross profit margin for the year ended December 31, 2018, was approximately 9.5%, down from approximately 15.6% for the year ended December 31, 2017, primarily due to increased overall construction costs and intensified market competition[37]. - The gross profit for the year ended December 31, 2018, was approximately HKD 24.4 million, a decrease of about 43.6% compared to approximately HKD 43.1 million for the year ended December 31, 2017[37]. - The total cash and bank balances as of December 31, 2018, were approximately HKD 82,347,000, down from approximately HKD 109,386,000 as of December 31, 2017[45]. - The total borrowings as of December 31, 2018, were approximately HKD 2,416,000, a decrease from approximately HKD 10,923,000 as of December 31, 2017[45]. - The debt-to-equity ratio as of December 31, 2018, was approximately 1.3%, down from about 5.9% as of December 31, 2017, due to the repayment of bank loans[47]. - The total employee cost for the year ended December 31, 2018, was approximately HKD 30,616,000, down from approximately HKD 40,589,000 for the year ended December 31, 2017[53]. - Net profit attributable to the owners decreased by approximately HKD 4,180,000 or about 43.9% to approximately HKD 5,337,000 for the year ended December 31, 2018, with a net profit margin of about 2.1% compared to 3.5% for the previous year[43]. Business Strategy and Expansion - The company plans to expand its construction and decoration engineering services in Cambodia, capitalizing on the growth of the real estate sector in that region[23]. - There is an expectation to expand property management services due to increasing demand driven by the rising supply of residential and commercial buildings in Hong Kong[23]. - The company aims to explore and expand its business opportunities both locally and overseas in 2019, focusing on long-term business strategies[23]. - The group is considering expanding its business beyond Hong Kong to enhance future development and solidify its revenue base[32]. - The group plans to diversify its operations by exploring opportunities in Cambodia's property sector, leveraging its experience in Hong Kong[35]. Corporate Governance - The company has adopted and complied with all applicable corporate governance code provisions and listing rules for the year ended December 31, 2018[72]. - The board consists of seven members, including three executive directors and four independent non-executive directors[75]. - The company has implemented a board diversity policy, considering factors such as gender, age, cultural background, and professional experience[77]. - The roles of the chairman and CEO are separated to comply with corporate governance codes[84]. - The board is responsible for developing and reviewing corporate governance policies and ensuring compliance with legal and regulatory requirements[90]. - The company has established three board committees: audit committee, nomination committee, and remuneration committee[74]. - The board will review and recommend any amendments to corporate governance policies as necessary to ensure ongoing compliance[72]. - The company has established a shareholder communication policy to ensure shareholders receive timely and equal information regarding significant developments and risk profiles[121]. Environmental and Social Responsibility - The group has maintained certifications for quality management (ISO 9001:2015) and environmental management (ISO 14001:2015), reflecting its commitment to quality and sustainability[130]. - The company aims to continue environmental protection efforts and implement more effective measures to reduce pollution in the future[176]. - The company has established five waste reduction goals, including reusing inert materials on-site and recycling all metal waste[137]. - The company has implemented measures to reduce air pollution, including using fuel with a sulfur content not exceeding 0.005%[142]. - The company has not reported any non-compliance with environmental laws and regulations for the year ending December 31, 2018[139]. - The company has a zero-tolerance policy towards forced labor and child labor, ensuring strict controls during the recruitment process[153]. - The company has made charitable donations and participated in recovery efforts following Typhoon Mangkhut during the fiscal year ending December 31, 2018[131]. Risk Management - The group faces significant risks due to reliance on public sector slope engineering projects, which could adversely affect its financial performance if contracts are not secured[189]. - The board of directors is responsible for continuously monitoring the effectiveness of the group's risk management and internal control systems[115]. - The audit committee reported no significant issues affecting the group's financial, operational, compliance, control, and risk management[115]. - The company has engaged CT Partners Consultants Limited to review the effectiveness of its risk management and internal control systems[115]. - The board believes that the internal control and risk management systems are effective and appropriate based on the conclusions and recommendations from CT Partners[118]. Employee and Director Management - The company has a dedicated website to provide the latest information on business operations, financial data, and corporate governance practices[121]. - The company provided ongoing training and development for directors to ensure they can fulfill their duties effectively[96]. - The company recorded a total of 2,658 hours of training for safety-related site training during the year ended December 31, 2018[159]. - The company lost a total of 70 workdays due to work-related injuries during the year ended December 31, 2018[157]. - The executive directors have service contracts with the company for a term of three years, with a notice period of at least six months for termination[200]. - Independent non-executive directors have appointment letters for a term of one year, with a notice period of at least one month for termination[200].