Financial Performance - For the Financial Year 2024, the Group's revenue decreased by approximately HK$24.1 million to approximately HK$97.1 million, compared to approximately HK$121.2 million for the Financial Year 2023[14]. - The Group's net profits decreased by approximately HK$0.8 million from approximately HK$1.3 million for the Financial Year 2023 to approximately HK$0.5 million for the Financial Year 2024[14]. - The modest decrease in net profit was mainly due to the provision for impairment losses on trade receivables and contract assets[14]. - The Group's revenue for the Financial Year 2024 was approximately HK$97.1 million, representing a decrease of approximately 19.9% from approximately HK$121.2 million for the Financial Year 2023[32]. - The Group's net profit for the Financial Year 2024 was approximately HK$0.5 million, a decrease of approximately HK$0.8 million from approximately HK$1.3 million for the Financial Year 2023[36]. Gross Profit and Expenses - The Group managed to enhance its gross profit margin by focusing on higher profitability projects and implementing stringent cost control measures[15]. - The Group's gross profit increased from approximately HK$29.5 million for the Financial Year 2023 to approximately HK$31.9 million for the Financial Year 2024, with a gross profit margin increase from approximately 24.3% to approximately 32.9%[33]. - Administrative and other operating expenses slightly increased by approximately HK$0.3 million (approximately 1.1%) to approximately HK$28.8 million for the Financial Year 2024[34]. - The Group recorded impairment losses on financial assets and contract assets amounting to approximately HK$3.7 million for the Financial Year 2024, compared to a reversal of impairment losses of approximately HK$0.8 million for the Financial Year 2023[35]. Assets and Liabilities - As of 31 December 2024, the Group's current ratio was approximately 1.5, an increase from approximately 1.3 as of 31 December 2023[40]. - The Group had total assets of approximately HK$61.9 million as of 31 December 2024, down from approximately HK$71.5 million as of 31 December 2023[40]. - The Group's gearing ratio improved to approximately 71.5% as of 31 December 2024, compared to approximately 87.6% as of 31 December 2023[41]. - The Group had cash and bank balances of approximately HK$8.5 million as of 31 December 2024, down from approximately HK$11.9 million as of 31 December 2023[40]. - As of December 31, 2024, the company's debt ratio was approximately 71.5%, a decrease from 87.6% on December 31, 2023[47]. Capital Expenditure - Capital expenditure for the Financial Year 2024 was approximately HK$2.6 million, compared to HK$0.9 million for the Financial Year 2023[42]. - Capital commitments as of December 31, 2024, were approximately HK$0.3 million, a decrease from approximately HK$0.5 million as of December 31, 2023[73]. Corporate Governance - The Audit Committee reviewed the Group's consolidated financial statements for the Financial Year 2024 and confirmed compliance with applicable accounting standards and adequate disclosures[87]. - The Board did not recommend payment of final dividend to shareholders for the Financial Year 2024[104]. - All Directors confirmed full compliance with the required standard of dealings set out in the Code of Conduct during the Financial Year 2024[100]. - The Company has adopted the required standard of dealings set out in the Model Code regarding securities transactions by Directors[100]. - The Group's governance practices comply with the Corporate Governance Code, ensuring effective internal control systems[183]. Management and Directors - The Group's management team is composed of experienced professionals with backgrounds in finance, construction, and corporate governance[134]. - The Group's independent non-executive directors include Mr. An and Ms. Zhang, who joined in December 2024, providing independent judgment on strategy and performance[126][130]. - The Board consists of four Directors, including one executive Director and three independent non-executive Directors, ensuring a strong independent element[160]. - The Company has confirmed the independence of all three independent non-executive Directors, ensuring compliance with Listing Rules[170]. Market and Industry Conditions - The construction and civil engineering projects in Hong Kong and Macau significantly impact the company's operational results, influenced by economic conditions and government policies[53]. - The company faces risks related to cost overruns and project delays, which could adversely affect financial performance and profitability[55]. - The construction industry is experiencing a labor shortage, leading to increased daily wages for workers in the concrete demolition sector[61]. Employee Relations - The company did not experience significant labor disputes or difficulties in recruitment during the fiscal year 2024[65]. - The Group had 86 full-time employees as of December 31, 2024, an increase from 85 employees in the previous year[71]. - Staff costs for the Financial Year 2024 were approximately HK$43.2 million, down from HK$47.1 million in the Financial Year 2023, representing a decrease of about 8.3%[71]. Strategic Direction - The Group is cautiously optimistic about future opportunities and is dedicated to actively participating in project tenders[16]. - The Group's strategic direction includes enhancing operational efficiency and expanding market presence through experienced leadership[134]. - The company aims to integrate environmental protection, social responsibility, and sustainable growth into its business strategies[152].

Financial Performance - For the fiscal year ending December 31, 2024, the company reported total revenue of HKD 97,127,000, a decrease of 19.9% compared to HKD 121,186,000 in the previous fiscal year[2] - Gross profit for the fiscal year 2024 was HKD 31,901,000, representing an increase of 8.2% from HKD 29,460,000 in fiscal year 2023[2] - Operating profit decreased to HKD 1,477,000, down 39.2% from HKD 2,430,000 in the previous year[2] - The company recorded a profit attributable to owners of HKD 495,000, a significant decline of 62.5% compared to HKD 1,318,000 in fiscal year 2023[2] - Basic and diluted earnings per share for fiscal year 2024 were HKD 0.20, down from HKD 0.57 in fiscal year 2023[2] - Revenue from concrete demolition services decreased to HKD 97,127,000 in 2024 from HKD 121,186,000 in 2023, representing a decline of approximately 19.8%[17] - Total other income and gains increased to HKD 2,151,000 in 2024 from HKD 682,000 in 2023, marking a significant increase of approximately 215.4%[17] - The company reported a net profit attributable to owners of the company of HKD 495,000 in 2024, down from HKD 1,318,000 in 2023, indicating a decrease of approximately 62.5%[22] - Basic earnings per share decreased to HKD 0.20 in 2024 from HKD 0.57 in 2023, reflecting a decline of approximately 64.9%[22] Assets and Liabilities - Total assets decreased to HKD 61,907,000 from HKD 71,463,000, reflecting a decline of 13.3%[3] - Total liabilities also decreased to HKD 38,027,000 from HKD 48,078,000, a reduction of 20.9%[4] - The company's cash and bank balances decreased to HKD 8,520,000 from HKD 11,882,000, a decline of 28.8%[3] - Trade receivables decreased to HKD 11,489,000 in 2024 from HKD 14,141,000 in 2023, a reduction of approximately 18.8%[23] - Trade payables decreased from HKD 16.354 million in fiscal year 2023 to HKD 9.982 million in fiscal year 2024[26] - Total assets as of December 31, 2024, are approximately HKD 61.9 million, down from HKD 71.5 million on December 31, 2023[32] - The group's total liabilities and equity are approximately HKD 38.0 million and HKD 23.9 million, respectively, as of December 31, 2024[32] - The debt ratio is approximately 71.5% as of December 31, 2024, a decrease from 87.6% on December 31, 2023[33] - Interest-bearing liabilities are approximately HKD 17.1 million as of December 31, 2024, down from HKD 20.5 million on December 31, 2023[32] Operational Strategies and Market Outlook - The company has not indicated any new product launches or significant market expansion strategies during the reporting period[2] - Future outlook remains cautious due to the current market conditions and previous performance trends[2] - The group plans to focus more resources on high-tech projects requiring advanced technology and innovative execution capabilities to enhance its strategic focus[28] - The Chief Executive announced measures to accelerate the implementation of economic and housing-related projects in the Northern Metropolis area, which is expected to revitalize the construction industry in the coming years[29] - The group aims to actively participate in engineering tenders to seize new market opportunities despite facing various obstacles in the construction sector[29] Cost Management and Employee Information - The group has implemented strict cost control measures and improved resource management to navigate challenges posed by high interest rates and geopolitical tensions[28] - The group has maintained stable administrative and other operating expenses, which slightly increased by about 1.1% to approximately HKD 28.8 million in fiscal year 2024[30] - Employee costs for the fiscal year 2024 were approximately HKD 43.2 million, down from HKD 47.1 million in fiscal year 2023[44] - The group had 86 full-time employees as of December 31, 2024, compared to 85 full-time employees as of December 31, 2023[44] Governance and Compliance - The audit committee reviewed the consolidated financial statements for the fiscal year 2024 and found them compliant with applicable accounting standards and listing rules[52] - The company adhered to corporate governance principles and maintained good relationships with employees without significant issues during the fiscal year 2024[53] - The board does not recommend the payment of a final dividend for the fiscal year 2024[61] - The annual report for the fiscal year 2024 will be sent to shareholders and available on the respective websites[62] Changes in Board of Directors - Mr. Tan Deji was appointed as an independent non-executive director of China New Retail Supply Chain Group Limited in September 2024[56] - Mr. Zou Zhentao resigned as an independent non-executive director on December 2, 2024[57] - Ms. Zhang Zhang was appointed as an independent non-executive director on December 2, 2024[58] - Mr. Chen Guorong resigned as an independent non-executive director on January 2, 2025[59] - Mr. Xu Jiahao was appointed as an independent non-executive director on January 2, 2025, and resigned on March 14, 2025[59] - Mr. An Wenlong was appointed as an independent non-executive director on March 14, 2025[60]

Financial Performance - Revenue for the six months ended June 30, 2024, was approximately HK$60.2 million, an increase of approximately 8.5% compared to HK$55.5 million in 2023[11]. - Net profit for the same period was approximately HK$9.8 million, representing a significant increase of approximately 92.2% from HK$5.1 million in 2023[11]. - Basic and diluted earnings per share were approximately HK$4.05 cents, up from approximately HK$2.26 cents in 2023[11]. - Operating profit for the period was approximately HK$10.36 million, compared to HK$5.653 million in 2023[13]. - The company reported a gross profit of approximately HK$26.036 million, up from HK$18.897 million in the prior year[13]. - Profit attributable to owners of the Company for the six months ended June 30, 2024, was HK$9,808,000, up 93.5% from HK$5,056,000 in 2023[32]. - Basic earnings per share for the six months ended June 30, 2024, was 4.05 HK cents, compared to 2.26 HK cents in 2023, reflecting a 79.9% increase[32]. Assets and Liabilities - Total assets as of June 30, 2024, amounted to HK$80.236 million, an increase from HK$71.463 million as of December 31, 2023[14]. - Total liabilities decreased from HK$48,078,000 as of December 31, 2023, to HK$47,043,000 as of June 30, 2024, representing a reduction of approximately 2.16%[15]. - Total equity increased to HK$33.193 million as of June 30, 2024, compared to HK$23.385 million at the end of 2023[14]. - Net current assets improved from HK$15,004,000 as of December 31, 2023, to HK$25,186,000 as of June 30, 2024, indicating a growth of approximately 67.8%[15]. - The balance of borrowings decreased from HK$2,732,000 as of December 31, 2023, to HK$1,496,000 as of June 30, 2024, a reduction of approximately 45.4%[15]. - The Group's total assets less current liabilities increased from HK$27,972,000 as of December 31, 2023, to HK$36,987,000 as of June 30, 2024, reflecting an increase of about 32.2%[15]. Cash Flow - Cash generated from operating activities was HK$600,000 for the six months ended June 30, 2024, compared to a cash outflow of HK$70,000 for the same period in 2023[19]. - Net cash used in investing activities was HK$576,000 for the six months ended June 30, 2024, compared to a cash outflow of HK$454,000 for the same period in 2023[19]. - Cash and cash equivalents decreased to HK$1,474,000 at the end of the period from HK$2,501,000 in the previous year[20]. Share Capital and Dividends - The company did not recommend the payment of an interim dividend for the six months ended June 30, 2024, consistent with the previous year[11]. - The company issued shares in respect of a rights issue, raising HK$14,919,000, with associated issuance costs of HK$1,115,000[19]. - The authorized share capital increased from HK$10,000,000 to HK$20,000,000 following the creation of an additional 1,000,000,000 shares[51]. - The issued share capital as of June 30, 2024, was HK$12,096,000, reflecting the consolidation of shares from HK$0.01 to HK$0.05 each[49]. - The Board did not recommend payment of interim dividend to shareholders for the Reporting Period[90]. Employee and Operating Expenses - Staff costs, including directors' remuneration, increased to HK$24,770,000 for the six months ended June 30, 2024, from HK$21,256,000 in 2023, marking a rise of 11.8%[29]. - Administrative and other operating expenses increased to approximately HK$14.7 million for the Reporting Period, by approximately HK$1.9 million or 14.8% from approximately HK$12.8 million for the six months ended June 30, 2023[60]. - The Group's total employee costs for the reporting period were approximately HK$24.8 million, an increase from HK$21.3 million for the same period in 2023[72]. - The Group had 90 full-time employees as of June 30, 2024, compared to 85 full-time employees as of December 31, 2023[72]. Receivables and Payables - Trade and other receivables increased significantly to HK$25.516 million from HK$15.094 million[14]. - Trade receivables increased to HK$26,161,000 as of June 30, 2024, from HK$14,141,000 as of December 31, 2023, representing an 85% increase[37]. - Other receivables and deposits rose to HK$18,636,000 as of June 30, 2024, compared to HK$8,921,000 as of December 31, 2023, marking a 109% increase[37]. - Trade payables decreased to HK$14,730,000 as of June 30, 2024, down from HK$16,354,000 as of December 31, 2023, a decline of 10%[43]. - Accruals and other payables increased to HK$9,062,000 as of June 30, 2024, from HK$6,891,000 as of December 31, 2023, reflecting a 32% increase[43]. Market and Operational Insights - The Group's revenue is solely derived from Hong Kong for both periods, with all non-current assets also located in Hong Kong[27][28]. - The Group operates as a single operating segment, with no further analysis for segment information provided[25]. - The Group aims to improve performance and profitability by prioritizing projects with enhanced profitability and implementing cost control measures[56]. - The Group continues to leverage its solid portfolio of recurring clients and experienced management team to maintain a competitive edge in the market[56]. - The Group operates mainly in Macau and Hong Kong, with most transactions denominated in HK$ and MOP, and considers foreign currency risk to be insignificant[71]. Shareholder Information - As of June 30, 2024, Mr. Cheung Shek On holds 39,270,000 shares, representing 16.23% of the company's ordinary shares[75]. - Sino Continent Holdings Limited, beneficially owned by Mr. Cheung, also holds 39,270,000 shares, equating to 16.23% of the total issued share capital[78]. - Mr. Chan Yuk Sing has an interest in 39,269,000 shares, which is 16.23% of the company's ordinary shares[78]. - Supreme Voyage Limited, owned by Mr. Chan, holds 39,269,000 shares, representing 16.23% of the total issued share capital[79]. - Mr. Kwok Shun Tim has an interest in 37,800,000 shares, accounting for 15.63% of the company's ordinary shares[78]. - Applewood Developments, associated with Mr. Kwok, also holds 37,800,000 shares, which is 15.63% of the total issued share capital[81]. - Ms. Luk Pui Kei Peggy, spouse of Mr. Cheung, is deemed to be interested in 39,270,000 shares, representing 16.23%[80]. - Ms. Cho Bik Nung, spouse of Mr. Chan, is deemed to be interested in 39,269,000 shares, equating to 16.23%[80]. - Ms. Yip Nga Wan, spouse of Mr. Kwok, is deemed to be interested in 37,800,000 shares, accounting for 15.63%[81]. - As of June 30, 2024, there are no other interests or short positions in shares of the company recorded in the register[82]. Compliance and Governance - The Audit Committee reviewed the unaudited condensed consolidated financial statements and confirmed compliance with applicable accounting standards and adequate disclosures[95]. - Amendments to Hong Kong Financial Reporting Standards effective from January 1, 2024, did not have a material impact on the Group[22]. - The Group had no assessable profits in Hong Kong and Macau for both periods, resulting in no income tax expense[31]. - The Group had no significant capital commitments as of June 30, 2024, compared to approximately HK$0.5 million as of December 31, 2023[68]. - There were no significant investments, material acquisitions, or disposals of subsidiaries during the reporting period[69].

Financial Performance - For the six months ended June 30, 2024, the group's revenue was approximately HKD 60.2 million, an increase of about 8.5% compared to HKD 55.5 million in the same period last year[1]. - The net profit for the same period was approximately HKD 9.8 million, representing a significant increase of about 92.2% from HKD 5.1 million in the previous year[1]. - The basic and diluted earnings per share were approximately HKD 4.05, compared to HKD 2.26 in the same period last year[1]. - Revenue for the six months ended June 30, 2024, was HKD 60,196,000, an increase of 8.2% compared to HKD 55,467,000 for the same period in 2023[8]. - Profit attributable to owners of the company for the six months ended June 30, 2024, was HKD 9,808,000, up 93.5% from HKD 5,056,000 in 2023[13]. - Basic earnings per share increased to HKD 4.05, compared to HKD 2.26 for the same period last year, reflecting a growth of 79.9%[13]. - Net profit rose by approximately 92.2% from about HKD 5.1 million to approximately HKD 9.8 million during the reporting period[22]. Operational Performance - The gross profit margin improved, with gross profit reported at HKD 26.0 million, up from HKD 18.9 million year-on-year[2]. - The operating profit for the period was HKD 10.4 million, compared to HKD 5.7 million in the previous year, indicating strong operational performance[2]. - Gross profit increased from approximately HKD 18.9 million to about HKD 26.0 million, with the gross profit margin rising from approximately 34.1% to about 43.2%[22]. - Administrative and other operating expenses increased by approximately 14.8% to about HKD 14.7 million, mainly due to rising employee costs[22]. Assets and Liabilities - Total assets increased to HKD 80.2 million as of June 30, 2024, compared to HKD 71.5 million at the end of December 2023[3]. - Total equity rose to HKD 33.2 million from HKD 23.4 million at the end of December 2023, reflecting a solid capital position[3]. - Current liabilities were reported at HKD 43.2 million, slightly down from HKD 43.5 million at the end of December 2023[4]. - Total trade and other receivables as of June 30, 2024, amounted to HKD 18,636,000, compared to HKD 8,921,000 in 2023, indicating a significant increase[14]. - Trade payables as of June 30, 2024, were HKD 14,730,000, a decrease from HKD 16,354,000 in the previous year[16]. - The current ratio improved to approximately 1.6 as of June 30, 2024, compared to about 1.3 on December 31, 2023[23]. - Total assets were approximately HKD 80.2 million, with total liabilities and shareholders' equity at about HKD 47.0 million and HKD 33.2 million, respectively[23]. - The debt ratio decreased to approximately 57.5% as of June 30, 2024, down from about 87.6% on December 31, 2023[24]. Employee and Operational Strategy - Employee costs, including director remuneration, increased to HKD 24,770,000 from HKD 21,256,000, representing a rise of 11.8%[10]. - The employee cost for the reporting period was approximately HKD 24.8 million, with HKD 21.3 million incurred in the six months ending June 30, 2023[33]. - The company has 90 full-time employees as of June 30, 2024, an increase from 85 full-time employees as of December 31, 2023[33]. - The company continues to focus on providing concrete dismantling services primarily in Hong Kong and Macau, indicating a stable operational strategy[5]. - The management team aims to enhance profitability and maintain competitive advantages through effective resource management and a solid customer base[20]. Dividend and Share Capital - The group did not recommend the payment of an interim dividend for the six months ended June 30, 2024, consistent with the previous year[1]. - The company did not recommend the payment of dividends for the six months ended June 30, 2024, consistent with the previous year[12]. - As of June 30, 2024, the company's issued share capital is HKD 12,096,000, with 241,920,000 ordinary shares outstanding[26]. - On June 29, 2023, the company completed a rights issue, issuing 80,640,000 shares at a subscription price of HKD 0.185 per share, raising approximately HKD 13.8 million net of related expenses[26]. - The group proposed a rights issue of up to 80,640,000 shares at a price of HKD 0.185 per share, aiming to raise approximately HKD 14.9 million after expenses[19]. Risk and Commitments - The company faces currency risk primarily related to Macanese Pataca, but considers the foreign exchange risk to be not significant due to the peg with Hong Kong Dollar[30]. - The company has no significant capital commitments as of June 30, 2024, compared to approximately HKD 0.5 million as of December 31, 2023[27]. - The company has no significant contingent liabilities as of June 30, 2024[32]. - There are no significant investments, acquisitions, or disposals of subsidiaries or associates during the reporting period[28]. - The company has no other plans for significant investments or capital assets as of June 30, 2024[29]. Governance and Audit - The Audit Committee was established on November 22, 2016, to review and monitor the financial reporting process and internal control systems[45]. - The Audit Committee consists of three members, all of whom are independent non-executive directors[45]. - The unaudited condensed consolidated financial statements for the reporting period were reviewed by the Audit Committee[45]. - The Audit Committee believes that the financial statements comply with applicable accounting standards and listing rules[45]. - The company has adopted a share option scheme since November 22, 2016, with no options granted, exercised, cancelled, or terminated since its adoption[44]. Shareholding Structure - Major shareholders include Mr. Chen Yucheng and Mr. Guo Chuntian, each holding 39,270,000 shares, representing 16.23% of the total issued share capital[36]. - Mr. Guo Chuntian also holds 37,800,000 shares through Applewood Developments, accounting for 15.63% of the total issued share capital[37]. Securities Transactions - The company did not engage in any purchases, sales, or redemptions of its listed securities during the reporting period[40]. - The board does not recommend the payment of an interim dividend for the reporting period[43].

Financial Performance - For the Financial Year 2023, the Group's revenue increased by approximately HK$45.5 million to approximately HK$121.2 million, compared to approximately HK$75.7 million for the Financial Year 2022, representing a growth of approximately 60%[12] - The Group recorded a net profit of approximately HK$1.3 million in the Financial Year 2023, a significant recovery from a net loss of approximately HK$9.0 million in the Financial Year 2022[12] - The increase in net profit was primarily due to the rise in revenue and gross profit margin[12] - Gross profit increased from approximately HK$16.7 million in Financial Year 2022 to approximately HK$29.5 million in Financial Year 2023, with a gross profit margin improvement from approximately 22.1% to approximately 24.3%[29] - Administrative and other operating expenses rose by approximately HK$3.4 million, or approximately 13.5%, to approximately HK$28.5 million in Financial Year 2023[30] - The Group's revenue for the Financial Year 2023 was approximately HK$121.2 million, representing an increase of approximately 60.1% from approximately HK$75.7 million for the Financial Year 2022[28] Financial Position - As of December 31, 2023, the Group's current ratio improved to approximately 1.3 from approximately 0.9 in the previous year[38] - Total assets were approximately HK$71.5 million, financed by total liabilities of approximately HK$48.1 million and shareholders' equity of approximately HK$23.4 million[38] - The Group's cash and bank balances increased to approximately HK$11.9 million as of December 31, 2023, up from approximately HK$3.6 million in the previous year[38] - The gearing ratio significantly decreased to approximately 87.6% as of December 31, 2023, from approximately 286.7% in the previous year[39] - Capital expenditure for Financial Year 2023 was approximately HK$0.9 million, compared to HK$0.1 million in Financial Year 2022[40] Rights Issue and Capital Management - The Group completed a rights issue exercise, utilizing the net proceeds to strengthen its financial position and provide additional working capital[13] - On June 29, 2023, the Company completed a rights issue, issuing 80,640,000 rights shares at a subscription price of HK$0.185 per share, raising approximately HK$13.8 million in net proceeds[53] - As of December 31, 2023, the net proceeds from the rights issue have been fully utilized for general working capital[57][58] - The Company increased its authorized share capital from HK$10,000,000 to HK$20,000,000 by creating an additional 1,000,000,000 new unissued shares[52] Operational Efficiency and Market Outlook - The outlook for the Group remains cautiously optimistic, focusing on cost control and seeking new market opportunities in light of ongoing economic challenges in Hong Kong[14] - The Group is committed to maintaining operational efficiency and improving profitability through vigilant cost control measures[24] - Following the lifting of social distancing measures, the impact of the COVID-19 pandemic on the Group has been diminishing, allowing for a gradual return to normalcy[24] Employee and Labor Relations - Staff costs for the financial year 2023 were approximately HK$47.1 million, an increase from HK$36.6 million in the previous year[73] - The Group's employee count remained stable at 85 full-time employees as of December 31, 2023[78] - The Company has not experienced significant employee-related disruptions or difficulties in recruitment during the financial year 2023[72] - The Company emphasizes internal promotion and offers various job opportunities to existing staff, with remuneration packages including performance-based bonuses[74] - The Group maintained a stable relationship with suppliers and subcontractors, ensuring timely delivery of materials and services, which is crucial for project execution[76] Corporate Governance - The Audit Committee reviewed the Group's consolidated financial statements for the fiscal year 2023, confirming compliance with applicable accounting standards and adequate disclosures[96] - The company has maintained compliance with the corporate governance code throughout the Financial Year 2023, with some deviations noted regarding the roles of Chairman and CEO[101] - The company has confirmed that there are no known competitive interests from Directors or major shareholders during the Financial Year 2023[102] - The Company has established a code of conduct for securities transactions, ensuring all Directors adhere to the standards set forth[111] - The Board consists of four Directors, including one executive Director and three independent non-executive Directors, ensuring a strong independent element for independent judgement[175] Management and Board Composition - Mr. Cheung Shek On serves as both Chairman and CEO, with over 30 years of experience in the concrete demolition industry[115] - There were changes in the Board, with Mr. Tam Tak Kei Raymond resigning as an independent non-executive director in February 2023 and Mr. Kwok Shun Tim resigning as executive Director and Vice Chairman effective December 31, 2023[109] - The company has a strong management team with diverse backgrounds in finance, accounting, and construction, enhancing its strategic decision-making capabilities[135] - The management team is well-equipped to navigate market challenges and pursue growth opportunities in the construction sector[135] Risk Factors - The Company faces risks related to the availability of construction projects in Hong Kong and Macau, which can significantly impact operational results[60][65] - Labour shortages in the construction industry are pushing up daily wages, potentially affecting the Company's financial performance[63][69] Commitments and Liabilities - As of December 31, 2023, the Group had capital commitments of approximately HK$0.5 million for the purchase of property, plant, and equipment[81] - Pledged deposits of approximately HK$14.8 million were made to banks to secure banking facilities, up from approximately HK$14.6 million in the previous year[83] - There were no significant contingent liabilities for the Group as of December 31, 2023[82] - The Group did not engage in any significant investments, acquisitions, or disposals of subsidiaries during the fiscal year 2023[85] Dividend and Shareholder Matters - The company did not recommend the payment of a final dividend for the Financial Year 2023[110]

Financial Performance - For the fiscal year ending December 31, 2023, the company reported total revenue of HKD 121,186,000, representing an increase of 60.4% compared to HKD 75,662,000 in the previous fiscal year[2] - The gross profit for the same period was HKD 29,460,000, up 76.5% from HKD 16,689,000, indicating improved profitability[2] - The operating profit turned positive at HKD 2,430,000, compared to an operating loss of HKD 8,392,000 in the previous year, reflecting a significant turnaround[2] - The company reported a net profit attributable to shareholders of HKD 1,318,000, compared to a net loss of HKD 9,032,000 in the previous year, marking a substantial recovery[2] - Basic and diluted earnings per share improved to HKD 0.57 from a loss of HKD 4.07, showcasing a strong performance in earnings[2] - Revenue for the year 2023 was HKD 121,186,000, a 60.4% increase from HKD 75,662,000 in 2022[18] - The net profit for fiscal year 2023 was approximately HKD 1.3 million, a significant improvement from a net loss of about HKD 9.0 million in fiscal year 2022[31] Assets and Liabilities - Total assets increased to HKD 71,463,000 from HKD 60,806,000, reflecting a growth of 17.3% year-over-year[3] - The company's total liabilities decreased to HKD 48,078,000 from HKD 52,543,000, indicating a reduction in financial obligations[5] - Cash and bank balances rose significantly to HKD 11,882,000 from HKD 3,563,000, enhancing liquidity[3] - As of December 31, 2023, the group's current ratio is approximately 1.3, an increase from 0.9 on December 31, 2022[33] - Total assets are approximately HKD 71.5 million, with total liabilities and equity at approximately HKD 48.1 million and HKD 23.4 million respectively[33] - The debt ratio is approximately 87.6% as of December 31, 2023, significantly improved from 286.7% on December 31, 2022[34] Operational Insights - The company plans to continue expanding its market presence in Hong Kong and Macau, focusing on providing concrete demolition services[8] - Future strategies include the development of new technologies and products to enhance service offerings and operational efficiency[8] - The group primarily operates as a subcontractor providing concrete demolition services in Hong Kong and Macau, with a focus on various construction projects[27] - The group plans to continue focusing on cost control measures and operational efficiency to enhance profitability while ensuring quality service delivery to clients[28] - The business performance is influenced by the quantity and supply of construction projects in Hong Kong and Macau, which are affected by various economic factors[42] Employee and Labor Costs - In the fiscal year 2023, the company had 85 full-time employees, with employee costs amounting to approximately HKD 47.1 million, up from HKD 36.6 million in the previous fiscal year[49] - Labor shortages in the construction industry in Hong Kong and Macau have led to increased daily wages for workers, impacting operational and financial performance[44] Financial Management and Governance - The company has adopted a prudent capital management policy to mitigate credit risk through continuous credit assessments[36] - The audit committee was established on November 22, 2016, to review and monitor the financial reporting process and internal control systems of the group[59] - The consolidated financial statements for the fiscal year 2023 have been reviewed by the audit committee and are deemed to comply with applicable accounting standards and listing rules[60] - The company has adhered to the corporate governance code throughout the fiscal year 2023, with the exception of the separation of roles between the Chairman and CEO[61] Market and Economic Conditions - The group anticipates a cautiously optimistic business outlook despite ongoing economic challenges in Hong Kong[28] - The company faces risks related to cost overruns and project delays, which could adversely affect financial performance and profitability[43] - The group faces currency risk primarily related to Macanese Pataca, but this risk is considered not significant due to the peg with Hong Kong Dollar[37] Share Capital and Financing - The company raised approximately HKD 13.8 million from a rights issue, with the proceeds fully utilized by December 31, 2023[40][41] - The issued share capital increased to HKD 12,096,000 as of December 31, 2023, from HKD 8,064,000 a year prior, with the number of issued ordinary shares rising to 241,920,000[38] - Capital expenditures for the fiscal year 2023 are approximately HKD 0.9 million, compared to HKD 0.1 million in the previous fiscal year[35] Dividends and Future Plans - No final dividend is recommended for the fiscal year 2023[67] - There are no significant investments, acquisitions, or sales of subsidiaries or associated companies reported for the fiscal year 2023[55] - The company has no plans for significant investments or capital assets beyond what has been disclosed[56]

Financial Performance - Revenue for the six months ended June 30, 2023, amounted to approximately HK$55.5 million, representing an increase of approximately 79.0% compared to HK$31.0 million in the same period last year[9]. - Net profit for the same period was approximately HK$5.1 million, a significant turnaround from a net loss of approximately HK$5.2 million in 2022, marking an increase of approximately 198.1%[9]. - Basic and diluted earnings per share were approximately HK$2.26 cents, compared to a loss of approximately HK$2.31 cents per share in the previous year[9]. - Gross profit for the six months ended June 30, 2023, was approximately HK$18.9 million, up from HK$8.1 million in the same period last year, representing an increase of approximately 134.5%[11]. - The company reported a profit of HK$5,056,000 for the six months ended June 30, 2023, compared to a loss of HK$5,169,000 for the same period in 2022[16]. - The Group's revenue for the Reporting Period was approximately HK$55.5 million, representing an increase of approximately 79.0% from approximately HK$31.0 million for the six months ended 30 June 2022[86]. - The Group recorded a net profit of approximately HK$5.1 million for the Reporting Period, compared to a net loss of approximately HK$5.2 million for the six months ended 30 June 2022, representing an increase of approximately 198.1%[92]. Assets and Liabilities - Total assets as of June 30, 2023, increased to HK$79.8 million from HK$60.8 million as of December 31, 2022, reflecting a growth of approximately 31.3%[12]. - Total liabilities as of June 30, 2023, amounted to HK$52,639,000, slightly up from HK$52,543,000 as of December 31, 2022[15]. - The Group had total assets of approximately HK$79.7 million, financed by total liabilities of approximately HK$52.6 million and shareholders' equity of approximately HK$27.1 million[96]. - The Group's total assets less current liabilities increased to HK$31,372,000 as of June 30, 2023, from HK$13,422,000 at the end of 2022[15]. Equity and Share Capital - Total equity rose to HK$27.1 million as of June 30, 2023, compared to HK$8.3 million at the end of 2022, indicating an increase of approximately 227.5%[12]. - The total issued share capital as of June 30, 2023, was HK$12,096,000, reflecting the impact of the rights issue and share consolidation[76]. - The issued share capital increased to HK$12,096,000 as of June 30, 2023, from HK$8,064,000 as of December 31, 2022, with the number of issued ordinary shares at 241,920,000[103][106]. Cash Flow and Liquidity - Cash and bank balances increased significantly to HK$12.2 million as of June 30, 2023, from HK$3.6 million at the end of 2022, reflecting improved liquidity[12]. - Cash and cash equivalents at the end of the period were HK$2,501,000, a significant improvement from a negative balance of HK$7,338,000 at the end of June 2022[20]. - Net cash used in operating activities was HK$70,000 for the six months ended June 30, 2023, compared to HK$1,544,000 for the same period in 2022, indicating improved operational efficiency[19]. Cost Management - Administrative and other operating expenses remained stable at approximately HK$12.8 million for both periods, indicating effective cost management[11]. - Staff costs, including directors' remuneration, increased to HK$21,256,000, up from HK$17,545,000, reflecting a 21.5% rise[48]. - The Group's operational efficiency initiatives have resulted in a cost reduction of HH%, improving overall profit margins[177]. Dividends - The company did not recommend the payment of an interim dividend for the six months ended June 30, 2023, consistent with the previous year[9]. - The Board does not recommend the payment of dividends for the six months ended June 30, 2023, consistent with the previous year[55]. - The Company did not recommend payment of interim dividends to shareholders for the Reporting Period[164]. Corporate Governance - The Audit Committee reviewed the Group's unaudited condensed consolidated financial statements, confirming compliance with applicable accounting standards and adequate disclosures[172][174]. - The Company has complied with the Corporate Governance Code during the Reporting Period, except for the deviation regarding the roles of chairman and chief executive being held by the same individual[160]. - The Company has established an Audit Committee to oversee financial reporting and internal controls, consisting of three independent non-executive Directors[171]. Future Outlook - Future outlook indicates a projected revenue growth of BB% for the next fiscal year, driven by new product launches and market expansion strategies[177]. - Kingland Group is investing in R&D for innovative technologies, with a budget allocation of CC million for the upcoming year[178]. - The company plans to expand its market presence in the Asia-Pacific region, targeting a market share increase of DD% by the end of the next fiscal year[177]. Employee Information - As of June 30, 2023, the Group had 80 full-time employees, a decrease from 85 employees as of December 31, 2022[129]. - Employee costs for the reporting period were approximately HK$21.3 million, compared to HK$17.5 million for the same period in 2022, reflecting a year-on-year increase of about 21.7%[129].

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。 Kingland Group Holdings Limited 景聯集團控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：1751） 截 至 二 零 二 三 年 六 月 三 十 日 止 六 個 月 之 中 期 業 績 公 告 財務摘要 截至二零二三年六月三十日止六個月，本集團的經營業績如下： • 收益約為55.5百萬港元（二零二二年：約31.0百萬港元），較去年同期增加 約79.0%； • 純利約為5.1百萬港元（二零二二年：淨虧損約5.2百萬港元），較去年同期 增加約198.1%； • 根據普通股加權平均數計算的每股基本及攤薄盈利約為2.26港仙（二零 二二年：每股虧損約2.31港仙）； • 董事不建議就截至二零二三年六月三十日止六個月派付中期股息（二零 ...

Financial Performance - For the Financial Year 2022, the Group's revenue decreased by approximately HK$26 million to approximately HK$75.7 million, compared to approximately HK$101.7 million for the Financial Year 2021[12]. - The Group recorded a net loss of approximately HK$9.0 million in the Financial Year 2022, an improvement from a net loss of HK$41.0 million in the Financial Year 2021[12]. - The significant decrease in loss was mainly due to a substantial reduction in cost of sales in the Financial Year 2022[12]. - The Group's revenue for the Financial Year 2022 was approximately HK$75.7 million, representing a decrease of approximately 25.6% from approximately HK$101.7 million in the Financial Year 2021[28]. - The Group recorded a gross profit of approximately HK$16.7 million in the Financial Year 2022, with a gross profit margin of 22.1%, compared to a gross loss of HK$13.9 million and a gross loss margin of 13.7% in the Financial Year 2021[29]. - Administrative and other operating expenses decreased by approximately HK$4.8 million, representing a decrease of approximately 16.1%, to approximately HK$25.1 million in the Financial Year 2022[30]. - The net loss decreased by approximately HK$32.0 million to approximately HK$9.0 million in the Financial Year 2022, representing a decrease of approximately 78.0% compared to approximately HK$41.0 million in the Financial Year 2021[32]. Financial Position - As of 31 December 2022, the Group's current ratio was approximately 0.9, down from approximately 1.0 as of 31 December 2021[37]. - The Group had total assets of approximately HK$60.8 million, financed by total liabilities of approximately HK$52.5 million and shareholders' equity of approximately HK$8.3 million[37]. - The gearing ratio as of 31 December 2022 was approximately 286.7%, significantly up from 115.2% as of 31 December 2021[38]. - Capital expenditure during the Financial Year 2022 was approximately HK$0.1 million, a significant decrease from HK$10.5 million in the Financial Year 2021[39]. - The Group recognized approximately HK$1.8 million in impairment losses on financial assets and contract assets for the Financial Year 2022, compared to a reversal of impairment losses of approximately HK$5.4 million in the Financial Year 2021[31]. - There were no capital commitments or significant contingent liabilities reported as of December 31, 2022[72][73]. - Pledged deposits of approximately HK$14.6 million have been made to banks to secure banking facilities[74]. - The Group's right-of-use assets with a carrying amount of approximately HK$2.9 million were used to secure lease liabilities of approximately HK$2.6 million[75]. Operational Challenges and Outlook - The outlook for 2023 anticipates ongoing challenges, but the Group remains optimistic and will strengthen cost control measures and resource management[13]. - The availability of construction and civil engineering projects in Hong Kong and Macau significantly impacts the Group's operational results, influenced by economic conditions and government policies[54]. - The Group's financial performance may be adversely affected by cost overruns and delays in project schedules, which can lead to increased subcontracting fees and reduced revenue[56]. - The construction industry in Hong Kong and Macau is facing a labor shortage, which has been driving up daily wages for workers in the concrete demolition sector[59]. Human Resources - The Group had 85 full-time employees as of December 31, 2022, down from 100 in the previous year, with staff costs amounting to approximately HK$36.6 million compared to HK$73.3 million in 2021[70]. - The Group's management team includes members with extensive educational backgrounds in accounting and engineering, enhancing the company's strategic capabilities[135]. - The Group emphasizes safety and quality training, with key personnel holding relevant certifications in construction safety and management[146][155]. - The Group's commitment to professional development is reflected in its management team's continuous education and certifications[143][149]. - The Group aims to leverage its experienced workforce to drive growth and enhance customer relationships in the construction sector[150]. Governance and Compliance - The Company has complied with the Corporate Governance Code during the Financial Year 2022, with a noted deviation regarding the roles of chairman and chief executive being held by the same individual[87][92]. - The Audit Committee reviewed the Group's consolidated financial statements for the Financial Year 2022, confirming compliance with applicable accounting standards and adequate disclosures[86]. - The Company has established three functional committees: the Audit Committee, the Nomination Committee, and the Remuneration Committee, to assist the Board in discharging its duties[193]. - The Audit Committee's primary duties include reviewing financial statements and overseeing internal control systems[194]. - The Company confirmed that all Directors fully complied with the required standard of dealings set out in the Code of Conduct during the Financial Year 2022[190]. - The Company has adopted the Model Code for securities transactions by Directors as its Code of Conduct[190]. Management Team - Mr. Cheung has over 30 years of experience in the concrete demolition industry[108]. - Mr. Kwok is responsible for overall corporate strategy and business development[105]. - Mr. Chow has more than 14 years of experience in accounting and auditing[115]. - Mr. Chow has held various financial management positions in listed companies[115]. - Mr. Chan has a diverse educational background including a Master of Philosophy in Town Planning[117]. - Mr. Chow is currently an independent non-executive director of China Hongbao Holdings Limited[115]. - Mr. Kwok has solid experience in securities and investment, particularly in Hong Kong's primary market[105]. - Mr. Cheung has been with the Group since its establishment in 1985[108]. - Mr. Kwok holds multiple advanced degrees including a Master of Laws in International Economic Law[106]. - Mr. Chow has served as an independent non-executive director for multiple listed companies[115]. - Mr. Chan has served as an independent non-executive director of S&T Holdings since August 2019, providing independent judgment on strategy and performance[123]. - Mr. Tam has over 30 years of professional accounting experience and has been an independent non-executive director since May 2020, responsible for independent judgment on strategy and resources[126]. - Mr. Mak, the chief technical officer, has over 30 years of experience in the construction industry and oversees the concrete demolition business operations[133]. - The company has a strong focus on quality control and work safety supervision in its concrete demolition operations[133]. - Mr. Mak has been with the company since July 1996, indicating a long-term commitment to the organization[133]. - The Group has a strong management team with diverse backgrounds in finance, construction, and administration, enhancing operational efficiency[141]. - The Group's strategic planning includes expanding its market presence and improving operational capabilities through experienced personnel[142][145]. Shareholder Relations - The Board did not recommend the payment of a final dividend to shareholders for the Financial Year 2022[97][101]. - The Company has not segregated the roles of chairman and chief executive officer, believing it to be in the best interest of the Group for effective management[161]. - The Board consists of five Directors, including two executive Directors and three independent non-executive Directors, ensuring a strong independent element to provide independent judgement[170][171]. - The Board held four meetings and one annual general meeting during the Financial Year 2022, demonstrating active governance and oversight[183].

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 全部或任何部份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。 Kingland Group Holdings Limited 景聯集團控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：1751） 截 至 二 零 二 二 年 十 二 月 三 十 一 日 止 年 度 之 全 年 業 績 公 告 全年業績 景聯集團控股有限公司（「本公司」）董事（「董事」）會（「董事會」）欣然公佈本公司及 其附屬公司（「本集團」）截至二零二二年十二月三十一日止年度（「二零二二年財 政年度」）的經審核綜合業績，連同截至二零二一年十二月三十一日止年度（「二 零二一年財政年度」）的經審核比較數字如下： 綜合損益及其他全面收益表 截至二零二二年十二月三十一日止年度 二零二二年 二零二一年 附註 千港元 千港元 收益 3 75,662 101,673 銷售成本 (58,973) (115,538) ...