Financial Performance - The company's revenue decreased by 63.4% from approximately HKD 1,293.3 million in 2019 to about HKD 473.9 million in 2020[6] - The gross loss recorded for the year was approximately HKD 10.0 million, compared to a gross profit of about HKD 585.6 million in the previous year[6] - The net loss for the year was approximately HKD 429.5 million, a significant decline from the net profit of HKD 116.6 million in 2019[6] - The group's revenue decreased by approximately HKD 819.4 million or 63.4% to about HKD 473.9 million due to the economic slowdown in China and Hong Kong, along with the impact of COVID-19[33] - The group recorded a gross loss of approximately HKD 10.0 million compared to a gross profit of HKD 585.6 million in the previous year[33] - The net loss for the period was approximately HKD 429.5 million, compared to a net profit of HKD 116.6 million in the previous year[33] - The company reported a loss attributable to owners of approximately HKD 245.0 million for the year, compared to a profit of HKD 20.6 million in 2019[56] - The total comprehensive loss attributable to owners for the year was approximately HKD 230.9 million, compared to a total comprehensive loss of HKD 4.2 million in 2019[56] - The main reasons for the losses included a decrease in revenue from financial information and technology services and an impairment loss of approximately HKD 311.1 million recorded during the year[56] Business Strategy and Operations - The company plans to reposition its lending business in response to new regulations and will continue to monitor policy developments in China[8] - The construction division faced significant impacts due to tightened credit limits, leading to a decline in revenue and the sale of two non-core subsidiaries[10] - The company aims to streamline its structure by divesting non-core businesses to strengthen its financial position[10] - Future strategies will focus on the Chinese market while maintaining a solid foundation in the Hong Kong construction sector[10] - New business initiatives include expanding platform services to consumer debt management, which is expected to improve cash flow and liquidity[8] - The company is considering acquisitions and mergers to accelerate business development when sufficient financial resources are available[7] - The group plans to expand its business model to provide debt restructuring solutions for borrowers facing financial difficulties, aiming to reduce credit risk and improve cash flow[30] - The group has initiated a one-stop consumer debt management service platform to act as a financial intermediary, which is expected to enhance its service offerings[30] Financial Position and Liquidity - Current liabilities net amounted to approximately HKD 16.8 million, a significant decrease from net current assets of HKD 356.3 million in 2019[19] - The company is actively seeking further financing options, including shareholder loans and bank borrowings, to improve liquidity[19] - The company received written confirmation from its controlling shareholder to provide financial support for the next 18 months[19] - The company plans to consider selling loss-making non-core businesses and/or financial assets if necessary[19] - The expected credit loss impairment (net of reversals) was approximately HKD 311.1 million, up from HKD 208.0 million in the previous year[33] - The company has made full provisions for uncollected receivables and is exploring methods to recover these amounts, including legal actions[14] - The company is pursuing legal action to recover approximately RMB 71.6 million in unpaid fees from a client in the financial information and technology services sector[44] Corporate Governance - The company did not comply with the corporate governance code regarding the separation of the roles of Chairman and CEO during the year[93] - The board has adopted a diversity policy, considering various measurable factors such as gender and age in board member selection[99] - The company has committed to maintaining high standards of corporate governance and regularly reviews its policies and practices[95] - The board held 14 meetings during the year ended December 31, 2020, with attendance records showing that all non-executive directors attended all meetings[106] - The company conducted two shareholder meetings in the same period, with all executive directors attending both meetings[107] - The board has established three committees: Audit Committee, Remuneration Committee, and Nomination Committee, with their terms of reference available on the stock exchange and the company's website[115] - The Audit Committee consists of three independent non-executive directors, ensuring compliance with listing rules and corporate governance codes[116] - The company has implemented a risk management framework that includes a three-line defense model to identify and manage risks effectively[137] Environmental, Social, and Governance (ESG) Initiatives - The environmental, social, and governance (ESG) report highlights the company's commitment to sustainable practices and compliance with relevant regulations during the reporting period ending December 31, 2020[150] - Key environmental issues identified include emissions and resource consumption, while social issues focus on employee welfare and occupational health and safety[154] - The company has established key performance indicators for environmental, social, and governance data analysis to enhance stakeholder value annually[156] - The company reported a total greenhouse gas emission of 181 tons of CO2 equivalent for the reporting period, a decrease of approximately 58% compared to the previous period's 430 tons[165] - The company has implemented strict monitoring to ensure compliance with environmental regulations, resulting in no significant non-compliance incidents reported during the year[158] - The company has committed to integrating environmental, social, and governance (ESG) measures into its strategic planning to enhance stakeholder value[156] Employee and Labor Practices - The total number of employees as of December 31, 2020, is 207, with a gender distribution of 61% male and 39% female[182] - Over 75% of employees are classified as general staff, while 16% are in management positions and 5% are technical staff[183] - The overall employee turnover rate is 21.4%, significantly increased due to the economic impact of COVID-19 on the financial information and technology services division[190] - The company has implemented a mandatory contribution of 5% of all salary levels to the MPF scheme for Hong Kong employees as part of retirement benefits[182] - The company provides paid annual leave and public holidays in addition to statutory holidays[182] - The company has a policy to prioritize internal promotions to enhance employee motivation[180]

Financial Performance - The company's revenue for the six months ended June 30, 2020, was approximately HKD 213.6 million, a decrease of about HKD 427.3 million or 66.7% compared to the same period in 2019[33]. - The loss attributable to the company's owners for the same period was approximately HKD 99.3 million, compared to a profit of HKD 86.1 million in the prior year[33]. - The gross loss for the period was HKD 17.6 million, compared to a gross profit of HKD 353.7 million in the previous year[33]. - The total comprehensive loss for the period was HKD 158.5 million, compared to a total comprehensive income of HKD 165.6 million in the same period last year[39]. - Basic loss per share for the period was HKD 7.5 cents, compared to HKD 7.0 cents in the prior year[39]. - The company reported a pre-tax loss of HKD 168,940 million for the six months ended June 30, 2020, compared to a profit of HKD 248,774 million in the same period of 2019[56]. - The company recorded a net loss of approximately HKD 152.8 million for the six months ended June 30, 2020, compared to a net profit of HKD 182.2 million in 2019[68]. - The group reported a decrease in performance guarantee amounts to approximately HKD 19,268,000 as of June 30, 2020, from HKD 40,208,000 as of December 31, 2019, indicating a reduction of about 52%[145]. Revenue Sources - The company's main revenue sources include construction consulting services and project management[74]. - Total revenue for the six months ended June 30, 2020, was HKD 213,581,000, a decrease from HKD 640,857,000 for the same period in 2019[89]. - The construction services segment generated revenue of HKD 172,119,000, while the consulting services segment contributed HKD 26,196,000, and the financial information and technology services segment brought in HKD 15,266,000[89]. - The financial information and technology services segment experienced a significant loss of HKD 127,975,000, while the consulting services segment achieved a profit of HKD 2,853,000[89]. - The financial information and technology services segment's revenue decreased by approximately HKD 427.9 million or 96.5% to about HKD 15.3 million, down from HKD 443.2 million in 2019[176]. Expenses and Losses - The company reported a significant increase in administrative expenses, totaling HKD 47.6 million compared to HKD 46.7 million in the previous year[38]. - Impairment losses, net of reversals, amounted to HKD 133.1 million, compared to HKD 57.0 million in the prior year[38]. - The company experienced a decrease in cash and cash equivalents of HKD 121,013 million during the reporting period[58]. - The company recorded a significant decline in reserves from HKD 244,931 million to HKD 141,823 million[44]. - The gross profit for consulting services decreased by approximately HKD 4.1 million or 55.4% to about HKD 3.3 million, with a gross profit margin dropping to 12.5% from 28.1% in 2019[172]. Assets and Liabilities - Non-current assets totaled HKD 104,425 million, with property, plant, and equipment valued at HKD 3,514 million and intangible assets at HKD 5,266 million[43]. - Current assets amounted to HKD 889,727 million, with trade receivables and other receivables at HKD 512,152 million, and cash and cash equivalents at HKD 171,039 million[43]. - Current liabilities reached HKD 533,381 million, with trade payables and other payables totaling HKD 297,754 million and tax liabilities at HKD 123,083 million[43]. - The total equity attributable to owners of the company decreased to HKD 155,143 million from HKD 258,251 million year-on-year[44]. - The group’s total liabilities decreased to HKD 183,117,000 as of June 30, 2020, from HKD 297,754,000 as of December 31, 2019, indicating a reduction of about 38%[129]. Strategic Initiatives - The company is focusing on restructuring and strategic initiatives to improve future performance[32]. - The company is actively negotiating with stakeholders for additional financing, including shareholder loans and bank borrowings, to improve liquidity[68]. - The company is implementing cost control measures and expediting receivables management to achieve positive operating cash flow[68]. - The company is considering the sale of non-core businesses and/or financial assets if necessary[68]. - The company plans to focus on expanding its consulting and financial technology services to improve profitability in the upcoming periods[90]. Market Conditions and Future Outlook - The company has faced significant operational impacts due to the COVID-19 pandemic, leading to a decrease in financial information and technology service usage, with a notable decline in consumer financing and small and medium-sized enterprises[168]. - The board anticipates that the implementation of a one-stop bad debt management service platform will improve cash flow and liquidity, reducing reliance on the Chinese consumer market[168]. - The company is closely monitoring market conditions and will adjust strategies as necessary to ensure timely access to funding from stakeholders[168]. - The financial technology sector in China has seen a significant increase in adoption rates, with small and medium-sized enterprises having the highest adoption rate at 61%[165]. - The board believes that the ongoing diversification of business and revenue sources will help the company leverage new opportunities for growth[157].

Financial Performance - Total revenue increased by approximately HKD 644.8 million or 99.4% to about HKD 1,293.3 million for the year ended December 31, 2019, compared to approximately HKD 648.5 million for the previous year[8]. - Profit attributable to owners of the company decreased by approximately HKD 11.5 million or 35.8% to about HKD 20.6 million for the year ended December 31, 2019, down from approximately HKD 32.1 million[8]. - Revenue from contracting services decreased by approximately HKD 30.6 million or 5.9% to about HKD 489.1 million, attributed to a reduction in the number of major contract projects[19]. - Revenue from financial-related information and technology services surged by approximately HKD 674.8 million or 939.8% to about HKD 746.6 million, as the company expanded its market share[20]. - Gross profit increased by approximately HKD 476.6 million or 437.2% to about HKD 585.6 million, with the gross profit margin rising from approximately 16.8% to 45.3%[21]. - Administrative expenses rose by approximately HKD 68.0 million or 173.5% to about HKD 107.2 million, mainly due to depreciation of right-of-use assets and increased employee costs[28]. - The group's income tax expense increased from approximately HKD 17.3 million for the year ended December 31, 2018, to approximately HKD 97.6 million for the year ended December 31, 2019, representing an increase of about 464.2%[32]. - The total comprehensive income attributable to the company's owners decreased from approximately HKD 26.8 million for the year ended December 31, 2018, to a loss of approximately HKD 4.2 million for the year ended December 31, 2019[33]. Business Strategy and Development - The company is actively seeking various business opportunities to diversify its existing construction business in Hong Kong and explore new markets in China with significant growth potential[9]. - The company aims to enhance its position in the Hong Kong market by attracting larger corporate clients and bidding for capital-intensive projects[10]. - The company is considering asset sales, acquisitions, business restructuring, and fundraising to enhance its long-term development potential[11]. - The company continues to diversify its business and revenue sources to leverage new opportunities and enhance shareholder value[16]. - The company anticipates gradual improvement in operations post-COVID-19, despite initial economic fluctuations due to the pandemic[17]. Corporate Governance - The company maintained compliance with all applicable code provisions of the Corporate Governance Code during the year ended December 31, 2019[57]. - The board of directors consisted of six members as of December 31, 2019, including three executive directors and three independent non-executive directors[59]. - The company has established a mechanism to handle significant conflicts of interest among major shareholders or directors[83]. - The company has a structured process for the appointment and re-election of directors, ensuring compliance with its articles of association[84]. - The audit committee is responsible for monitoring the integrity of financial reports and ensuring compliance with accounting standards and listing rules[94]. Environmental Impact - The company reported a total greenhouse gas emission of 430 tons of CO2 equivalent for the year ending December 31, 2019, down from 680 tons in 2018, representing a reduction of approximately 36.76%[140]. - The company has implemented waste management measures and did not generate any hazardous waste during the reporting period[141]. - The company actively seeks to minimize negative environmental impacts and has adopted emission control measures, including the use of ultra-low sulfur diesel[137]. - The company achieved ISO 14001 certification for its environmental management system, demonstrating compliance with international environmental standards[150]. - The company has complied with the environmental, social, and governance reporting guidelines as of December 31, 2019[135]. Employee and Workforce Management - Employee count rose to 567 in 2019 from 475 in 2018, marking an increase of approximately 19.4%[155]. - Employee turnover rate significantly increased to 63% in 2019 from 12% in 2018, indicating a substantial rise in employee departures[157]. - The company emphasizes the importance of employee development, allocating sufficient resources for training and encouraging participation in both internal and external training programs[166]. - The number of female employees increased to 230 in 2019, accounting for 41% of the total workforce, compared to 211 female employees (44%) in 2018[155]. - Total training hours for female employees in management increased from 40 hours in 2018 to 56 hours in 2019, while male management training hours rose from 296 to 148 hours[166]. Stakeholder Engagement - The company has established multiple channels for communication with shareholders and investors, including annual meetings and a dedicated website[132]. - The company is committed to stakeholder engagement to understand their needs and expectations through various communication channels[136]. - The company actively participates in community investment, particularly in supporting education through internship programs for undergraduates[177]. - The company has a strong commitment to corporate social responsibility, engaging in charitable donations and community service initiatives[178].

【达飞控股 TD Dafy Holdings Dafy Holdings Limited 達飛控股有限公司 (Incorporated in the Cayman Islands with limited liability) (於開曼群島註冊成立的有限公司) Stock Code : 1826 股份代號 : 1826 ANNUAL REPORT 18 目錄 公司資料2–3 | --- | |-------------------------------| | | | | | 董 事 及 高 級 管 理 層 履 歷 | | 董 事 會 報 告 | | 獨 立 核 數 師 報 告 | | 綜 合 損 益 及 其 他 全 面 收 | | 綜 合 財 務 狀 況 表 | | 綜 合 權 益 變 動 表 | | 綜 合 現 金 流 量 表 | | 綜 合 財 務 報 表 附 註 | | 財 務 摘 要 | | | 4 6– 14– 告30– 39– 44– 56– 入表 62– 65– 67–1 1 主席報告–5 管理層討論及分析13 企業管治報告29 環境、社會及管治報38 43 55 60 61 63 64 66 ...