截至4月28日收盘，安乐工程（01977.HK）报0.750港元，较上个交易日上涨2.74%，当日盘中最低价触 及0.720港元，创近一年新低。 本文源自：金融界 资金流向方面，当日主力流入3.848万港元，流出19.818万港元，净流出15.97万港元。 作者：港股君 安乐工程集团有限公司(以及其附属公司)('安乐工程'或'本集团')成立于1977年,是一家主要的电气和机械 工程和技术服务提供商,总部设在香港,在澳门、中国大陆、美国和联合王国开展业务。本集团为来自公 营及私营机构的广大客户提供多元及全面的电子工程及科技服务,包括建筑服务、环境工程、资讯、通 讯及建筑科技及升降机及自动梯。公司的母公司模拟控股有限公司于1995年成立,并于2019年在香港证 券交易所的主董事会上市(股票代码:1977)。公司的一些项目:港珠澳大桥工程服务。香港第一个有机资 源回收中心。昂船洲是世界上最大的化学强化初级废水处理厂之一,为香港提供经过加工和处理的水。 香港国际机场是世界上最好的机场之一,这是一个创新的过境生物鉴别系统。香港科学园的智能建筑,新 创意和创新需要最好的建筑系统。香港中央至中层的自动扶梯及人行道系统的翻新 ...

Financial Performance - The company reported a revenue of HKD 6,450.1 million for the fiscal year 2024, an increase from HKD 6,132.9 million in 2023, representing a growth of approximately 5.2%[28]. - Gross profit for the fiscal year 2024 was HKD 1,002.3 million, up from HKD 833.3 million in 2023, resulting in a gross margin of 15.5%[4][28]. - The profit attributable to the company's owners decreased to HKD 135.3 million in 2024 from HKD 251.5 million in 2023, reflecting a decline of about 46.3%[28]. - The cash and bank balance as of December 31, 2024, was HKD 1.0359 billion, compared to HKD 906.4 million in fiscal year 2023, enabling the company to undertake more projects and seize new market opportunities[60]. - The group recorded a net loss of HKD 28.9 million for the fiscal year 2024, compared to a net income of HKD 128.4 million in fiscal year 2023, primarily due to impairment losses and lack of one-time gains recognized in the previous year[88]. - The group's adjusted profit attributable to the company's owners for fiscal year 2024 was approximately HKD 206 million, reflecting a 10.2% increase compared to the adjusted profit for fiscal year 2023[79]. Strategic Initiatives - The company is focusing on three strategic pillars: "New Technology," "New Markets," and "New Business Models" to strengthen its industry-leading position[50]. - The company is actively developing new technologies, including AI, IoT, and digital solutions for energy optimization, as part of its strategy to become a leader in emerging industries[61]. - The company is committed to investing in the Hong Kong market, leveraging its unique advantages to explore significant market opportunities[54]. - The company aims to drive diversified business development while optimizing core operations in response to market trends[54]. - The company is exploring potential investments and collaborations to enter new markets in East Asia, Southeast Asia, Central Asia, the Middle East, and other regions[109]. Technology and Innovation - The establishment of the "MiMEP Design and Construction Center" and "MiMEP R&D Center" in Zhuhai aims to enhance the company's leadership in MiMEP technology[14]. - The company has achieved over 50% application of MiMEP, DfMA, and BIM technologies in its building services engineering projects[21]. - The AlgoWater technology has saved 47% in chemical usage for water and wastewater treatment facilities, showcasing the company's commitment to innovation in environmental engineering[23]. - The application of MiMEP in a commercial development project reached 85%, marking the highest level for commercial buildings[74]. - The company is developing a direct liquid cooling technology solution for AI data centers to meet increasing data computation demands[75]. Operational Efficiency - The newly established headquarters enhances operational efficiency and collaboration among business units, supporting the development of innovative construction technologies[60]. - The company maintains a strong operational cash level and has successfully implemented multiple high-value projects, ensuring stable core operational performance[50]. - The company has trained over 1,100 engineering talents through its graduate trainee and technician apprentice programs over the past 40 years[53]. - The group has been involved in various significant projects, including the design, construction, testing, and commissioning of wastewater treatment plants[132]. - The environmental engineering division is responsible for project management and execution, including design, procurement, construction, installation, testing, and maintenance[158]. Corporate Governance - The company has adopted the Corporate Governance Code as a benchmark for its governance practices and has complied with all applicable code provisions during the reporting year[165][166]. - The company ensures that at least one-third of the board consists of independent non-executive directors, in compliance with listing rules[173]. - The company has implemented mechanisms to ensure the board receives independent views and opinions, including the appointment of independent non-executive directors to various committees[173]. - The company’s governance practices include annual assessments of the independence of all independent non-executive directors[173]. - The company has established a process for the appointment of new directors, which includes a thorough review by the nomination committee before recommendations are made to the board[179]. Human Resources and Development - The group employed 3,149 staff as of December 31, 2024, an increase from 3,010 in the previous year, highlighting a focus on talent development[103]. - A total of 569 internal training sessions were conducted in 2024, accumulating over 38,500 training hours, emphasizing the group's commitment to employee development[104]. - The company has received multiple awards at the "Excellence in Human Resource Management Awards 2023/24," including a silver award for the Trainee Management Program, showcasing its recognition in HR practices[106]. - The company is committed to maintaining a diverse workforce and providing a friendly working environment for female employees and minority groups[111]. - The company aims to improve gender diversity at the board level, with a target to appoint at least one female director by December 31, 2024, and has already appointed two new female directors in 2023[181]. Market Position and Growth - The company has seen robust revenue growth in its international business through its brand Anlev, promoting quality products and services globally[51]. - The company is expanding its elevator and escalator business in the UK and the US, with its US joint venture turning from loss to profit and expanding its market coverage beyond New York[108]. - The environmental engineering segment's order value increased to HKD 1.514 billion as of December 31, 2024, more than doubling from HKD 730 million as of December 31, 2023, with significant contracts won for climate adaptation and environmental infrastructure[65]. - The company is actively pursuing new business opportunities in mechanical lifting, automated transport, and storage systems[158]. - The company is focused on continuous improvement and innovation to enhance its core advantages and operational performance[108].

Financial Performance - The company's revenue for the fiscal year ending December 31, 2024, was HKD 6,450.1 million, representing an increase of 5.2% from HKD 6,132.9 million in 2023[3]. - Gross profit for the same period was HKD 1,002.3 million, up 20.3% from HKD 833.3 million in 2023[3]. - Profit attributable to owners of the company decreased to HKD 135.3 million, down 46.3% from HKD 251.5 million in 2023[3]. - Basic earnings per share for 2024 was HKD 0.10, compared to HKD 0.18 in 2023, reflecting a decline of 44.4%[3]. - Total comprehensive income for the year was HKD 110.2 million, down 54.9% from HKD 244.3 million in 2023[5]. - The company's total assets as of December 31, 2024, were HKD 3,699.4 million, slightly down from HKD 3,721.4 million in 2023[7]. - The company's equity attributable to owners increased to HKD 2,193.7 million from HKD 2,126.4 million in 2023, reflecting a growth of 3.2%[8]. - The group reported a total segment profit of HKD 221,830,000 for the year ended December 31, 2024[27]. - The net profit for the year ended December 31, 2024, was HKD 133,888,000, compared to the previous year's profit[27]. - The company reported a net profit of HKD 251,406,000 for the year, compared to HKD 262,619,000 in the previous year, reflecting a decrease of 4.2%[33]. Revenue Breakdown - Revenue from contracting works was HKD 5,080,980,000 in 2024, up from HKD 4,926,890,000 in 2023, representing a growth of 3.1%[22]. - Maintenance works revenue increased to HKD 1,230,123,000 in 2024 from HKD 1,069,811,000 in 2023, reflecting a growth of 15.0%[22]. - Revenue from Hong Kong increased to HKD 5,492,957,000, up 7.2% from HKD 5,123,788,000 in 2023[33]. - Revenue from mainland China decreased to HKD 214,936,000, down 43% from HKD 376,476,000 in 2023[33]. - Revenue from maintenance engineering for fiscal year 2024 was HKD 1.2301 billion, accounting for 19.0% of total revenue, reflecting a 1.5% increase from fiscal year 2023[83]. Dividends - The company declared a second interim dividend of HKD 0.02 per share, totaling approximately HKD 28 million, bringing the total dividend for the year to HKD 0.0438 per share[3]. - The company declared an interim dividend of HKD 0.02 per share for the year 2024, totaling approximately HKD 27,977,000, compared to HKD 0.01 per share totaling HKD 13,863,000 for the year 2023[40]. - The company plans to pay a second interim dividend of HKD 0.02 per share for the year ending December 31, 2024, expected to be distributed around April 29, 2025[112]. Assets and Liabilities - Current liabilities decreased to HKD 2,632.6 million from HKD 2,730.1 million in 2023, indicating improved liquidity[7]. - The total current assets for 2024 were HKD 3,699.4 million, slightly down from HKD 3,721.4 million in 2023[101]. - The total current liabilities decreased to HKD 2,632.6 million in 2024 from HKD 2,730.1 million in 2023[101]. - The total value of pledged assets increased to HKD 968,108,000 in 2024 from HKD 853,999,000 in 2023, with significant increases in investment properties[55]. - The total amount of mortgaged assets as of December 31, 2024, was HKD 968.1 million, compared to HKD 854.0 million as of December 31, 2023[98]. Financial Standards and Compliance - The company has applied the revised Hong Kong Financial Reporting Standards (HKFRS) for the first time this year, which became mandatory on January 1, 2024, without significant impact on the financial position and performance[10]. - The company has not early adopted any new or revised HKFRS that have been issued but are not yet effective, including HKFRS 9 and HKFRS 7 revisions[15]. - The application of the revised HKFRS 9 is expected to clarify the recognition and derecognition of financial assets and liabilities, with no significant impact anticipated on the group's financial condition[18]. - The revised standards aim to improve the clarity and consistency of financial reporting, ensuring better alignment with international standards[14]. - The company has adopted the principles and code provisions of the Corporate Governance Code as its corporate governance standard, ensuring compliance as of December 31, 2024[115]. Operational Developments - The company is actively developing new technologies, including AI, IoT, and energy optimization digital solutions, to position itself as a leader in emerging industries[63]. - The newly established headquarters features a design and R&D center aimed at advancing new construction technologies, including MiMEP and BIM, enhancing productivity and sustainability[62]. - The company is actively expanding its services globally, targeting projects in the Philippines and Dubai[68]. - The company has established a dedicated business unit to expand its environmental engineering and other services into new markets, including the Philippines, Dubai, and Europe[110]. - The company is expanding its elevator and escalator business in the UK and the US, with its US subsidiary turning a profit and expanding its market coverage beyond New York[109]. Employee and Training - The company employed 3,149 staff as of December 31, 2024, an increase from 3,010 staff in 2023[102]. - The company provided a total of 569 internal training sessions in 2024, totaling over 38,500 hours of training[103]. Market Position and Future Outlook - The company has achieved significant growth in order volume and bidding activities, indicating a solid foundation for future business development[108]. - The company plans to prudently seek suitable new business and investment opportunities, aiming to fully utilize the net proceeds from the global offering by December 31, 2025[93]. - The company expects that the application of the new standards will not have a significant impact on its financial statements in the foreseeable future[16].

@ATAL Analogue Holdings Limited 安樂工程集團有限公司 (於百慕達註冊成立的有限公司) (股份代號：1977) 2 0 2 4 中期報告 關於安樂工程集團有限公司 安樂工程集團有限公司（股份代號：1977）（「本公司」）及其附屬公司（統稱「本集 團」）成立於1977年，為領先的機電工程及科技服務供應商，總部設於香港，業務遍 及澳門、中國內地、美國及英國。本集團為不同行業，包括公共和私營的客戶提供 跨專業、綜合性的機電工程和技術服務，涵蓋屋宇裝備工程、環境工程、資訊、通 訊及屋宇科技（「ICBT」），以及升降機及自動梯等四大業務板塊。 本集團同時製造及向全球銷售Anlev升降機及自動梯，並與美國紐約最大獨立升降 機和自動梯公司之一Transel Elevator & Electric Inc.達成夥伴關係。本集團的聯營公司 南京佳力圖機房環境技術股份有限公司（603912.SS）專門製造精密空調設備。 1 安樂工程集團有限公司 財務概要 2 主席報告 3 管理層討論及分析 5 簡明綜合財務報表審閱報告 17 簡明綜合損益及其他全面收益表 18 簡明綜合財務狀況表 19 簡明綜合權益 ...

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，概不會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。 Analogue Holdings Limited 安樂工程集團有限公司 截至2024年6月30日止六個月 中期業績 | --- | --- | --- | |------------------------------------------------------|-------------------------------|------------------| | 財務概要 | 截至 6 月 30 | 日止六個月 | | | 2024 年 百萬港元 | 2023 年 百萬港元 | | | | | | 收益 | 3,265.4 | 2,841.1 | | 毛利 | 477.7 | 453.8 | | 本公司擁有人應佔溢利 | 82.4 | 237.5 | | 每股基本盈利 | 0.06 港元 | 0.17 港元 | | 董事會已決議派付截至 2024 年 6 月 30 | 日止六個月的中期股息 ...

Financial Performance - For the fiscal year ending December 31, 2023, the company achieved a profit attributable to shareholders of HKD 251.5 million, representing a year-on-year increase of 119.5% from HKD 114.6 million in the fiscal year 2022[2]. - The total revenue for the fiscal year 2023 was HKD 6.133 billion, a slight decrease from HKD 6.475 billion in the fiscal year 2022[13]. - Gross profit for 2023 was HKD 833.3 million, down 17.7% from HKD 1,011.5 million in the previous year[86]. - Basic earnings per share rose to HKD 0.18, up from HKD 0.08 in 2022, marking a 125% increase[86]. - The adjusted profit attributable to the company's owners for the fiscal year 2023 is HKD 249.4 million, excluding one-time impacts from healthcare contract provisions[135]. - The group reported a net profit of HKD 128.4 million for the fiscal year 2023, compared to a net loss of HKD 33.3 million in the fiscal year 2022[187]. Revenue and Contracts - The company secured new contracts worth HKD 4.113 billion in the fiscal year 2023, compared to HKD 4.803 billion in the fiscal year 2022[4]. - The company has a backlog of contracts valued at HKD 6.1 billion, indicating strong future revenue potential[100]. - The company secured new maintenance contracts valued at HKD 600 million in 2023, compared to HKD 415 million in the fiscal year 2022, enhancing recurring revenue sources[137]. - Revenue from the building services engineering segment for the fiscal year 2023 was HKD 3.736 billion, a decrease from HKD 4.257 billion in 2022[150]. - The environmental engineering segment generated revenue of HKD 1.356 billion in 2023, up from HKD 1.234 billion in 2022, reflecting a growth of approximately 9.9%[153]. Strategic Initiatives and Acquisitions - The company completed the acquisition of two UK-based elevator companies, marking a strategic milestone in its global market expansion strategy[3]. - The group has successfully acquired two companies in the UK, with JCW becoming a majority-controlled subsidiary and Precision a wholly-owned subsidiary[194]. - The company launched an innovative water and wastewater treatment solution called "AlgoWater," utilizing digital twin technology[110]. - The company is focused on expanding its market presence and enhancing its engineering capabilities through strategic appointments and leadership transitions[56]. Innovation and Technology - The company is focused on developing innovative solutions, including AI-driven technologies and energy optimization, to maintain its market leadership[10]. - The company has developed multiple technological applications in environmental engineering and information technology, reinforcing its market leadership[134]. - The company has successfully implemented advanced technologies in over 50% of its building services engineering projects, enhancing efficiency, quality, and safety[160]. Corporate Governance and Leadership - The company has adopted the principles and code provisions of the Corporate Governance Code as a benchmark for its corporate governance practices[66]. - The company has complied with all applicable code provisions of the Corporate Governance Code during the reporting year[67]. - The company appointed Mrs. Yvonne Law as an independent non-executive director effective immediately after the annual general meeting on June 27, 2023[60]. - Leadership changes include Dr. Mak being appointed as Executive Director and Chairman of the Board effective March 1, 2024[80]. Sustainability and Social Responsibility - The company is focusing on sustainable development and aims to operate in an environmentally and socially responsible manner[85]. - The company received multiple awards for its contributions to green building and sustainable practices, including the Platinum Award for outstanding ESG achievements[34]. - The company aims to enhance its global business footprint by introducing professional services to more markets, focusing on sustainable development[134]. Financial Position and Ratios - The company's asset-to-equity ratio increased to 15.1% as of December 31, 2023, compared to 13.5% as of December 31, 2022[21]. - The current ratio decreased to 1.4 times in 2023 from 1.5 times in 2022, indicating a slight decline in liquidity[36]. - The asset-liability ratio increased to 15.1% in 2023 from 13.5% in 2022, indicating a rise in financial leverage[36]. - The group maintained a strong cash level with bank balances and cash amounting to HKD 906.4 million as of December 31, 2023[184]. Employee Engagement and Culture - The company is actively enhancing employee engagement through initiatives like the ARWA Club, promoting a healthy work environment[24]. - The group aims to promote a diverse workplace culture by signing the "Racial Diversity and Inclusion Employer Charter"[108].

Financial Performance - The company reported an adjusted profit attributable to shareholders of HKD 249,400,000 for the fiscal year 2023, excluding certain provisions and impacts[17]. - The group reported a net profit attributable to shareholders of HKD 2.514 billion for the fiscal year 2023, adjusted for certain provisions, resulting in an adjusted profit of HKD 249.4 million[42]. - The total revenue for 2023 was HKD 6,132,944, a decrease of 5.3% from HKD 6,474,650 in 2022[68]. - The gross profit for the fiscal year was HKD 833.3 million, down from HKD 1,011.5 million in the previous year, reflecting a decline of 17.6%[94]. - Profit attributable to owners for the year was HKD 251.5 million, an increase of 119.8% compared to HKD 114.6 million in 2022[94]. - Basic earnings per share for 2023 was HKD 0.18, compared to HKD 0.08 in 2022, representing a 125% increase[94]. - The group reported revenue of HKD 6,132,944 thousand for the year 2023, a decrease of 5.3% from HKD 6,474,650 thousand in 2022[129]. Revenue Breakdown - The ICBT business generated revenue of HKD 663,000,000 in the fiscal year 2023, an increase from HKD 631,000,000 in 2022, with new contract awards totaling HKD 618,000,000[12]. - Environmental engineering business revenue reached HKD 1,356,000,000 in fiscal year 2023, up from HKD 1,234,000,000 in 2022[21]. - The group's revenue from the elevator and escalator business reached HKD 378 million in the fiscal year 2023, an increase from HKD 353 million in fiscal year 2022[24]. - Revenue from long-term contracts in construction and maintenance was HKD 4,926,890 thousand in 2023, down from HKD 5,394,415 thousand in 2022, representing a decline of 8.7%[129]. - Revenue from Hong Kong decreased to HKD 5,123,788, down 13.2% from HKD 5,906,458 in 2022[68]. - Revenue from Mainland China increased to HKD 376,476, up 29.2% from HKD 291,595 in 2022[68]. Assets and Liabilities - The company's contract assets recognized an impairment provision of approximately HKD 5,788,000 for the year ended December 31, 2023, compared to HKD 4,234,000 in 2022[2]. - The company’s total liabilities related to secured assets increased significantly, with properties pledged rising to HKD 791,345,000 in 2023 from HKD 68,300,000 in 2022[3]. - As of December 31, 2023, the group's total liabilities decreased from HKD 2,398.8 million in 2022 to HKD 2,409.2 million in 2023, reflecting a slight increase of 0.4%[112]. - The group's bank borrowings as of December 31, 2023, amounted to HKD 320 million, up from HKD 277.9 million on December 31, 2022, mainly related to the mortgage loan for the acquisition of ATAL Tower[29]. - The group’s total liabilities as of December 31, 2023, were not reclassified under the 2020 and 2022 amendments to accounting standards[139]. Cash Flow and Financing - As of December 31, 2023, the group's cash and bank balances totaled HKD 906.4 million, a decrease from HKD 976 million on December 31, 2022[29]. - The group has established foreign exchange forward contracts for planned foreign currency transactions, with no foreign currency borrowings or other hedging tools in place[35]. - The group maintains a strong cash level and sufficient committed bank credit to support its growth and development[29]. - The group had bank financing and trade financing of approximately HKD 2.6734 billion, with HKD 949.8 million utilized[57]. Dividends - The company declared a second interim dividend of HKD 0.01 per share, totaling approximately HKD 13.9 million, alongside a first interim dividend of HKD 0.0852 per share, resulting in a total dividend distribution of HKD 0.0952 per share for the fiscal year ending December 31, 2023, amounting to approximately HKD 132.4 million, based on a profit attributable to owners of HKD 251.5 million[85]. - The company declared an interim dividend of 8.52 HKD cents per share for 2023, totaling 118,562 thousand HKD, up from 4.27 HKD cents per share and 59,586 thousand HKD in 2022[162]. Market Position and Future Outlook - The company has maintained a strong market position in infrastructure operations, data centers, and housing projects, contributing positively to revenue[19]. - The company expects annual construction volume in Hong Kong to reach approximately HKD 300 billion over the next decade, driven by public sector projects[65]. - The government plans to increase annual capital expenditure to over HKD 100 billion, particularly in housing and infrastructure, presenting significant opportunities for the company[65]. - The group anticipates positive impacts on Hong Kong's economic recovery as border restrictions with mainland China are fully lifted, which is expected to gradually reflect in business performance[41]. Employee and Operational Metrics - The group employed 3,010 staff as of December 31, 2023, an increase from 2,701 in 2022[54]. - Employee costs for 2023 amounted to 1,241,659 thousand HKD, compared to 1,137,692 thousand HKD in 2022, reflecting an increase of about 9.1%[162]. Taxation - The company incurred a tax expense of HKD 11.2 million for the year, a significant decrease from HKD 61.9 million in 2022[88]. - The effective tax rate for the qualifying group entities is calculated at 8.25% for the first HKD 2 million of estimated taxable profits and 16.5% for profits exceeding HKD 2 million[157]. - The group recognized a tax expense of 35,842 thousand HKD for the year, a decrease from 66,605 thousand HKD in the previous year, indicating a reduction of approximately 46.1%[165]. Acquisitions and Investments - The company acquired Precision Lift Services Limited for a total consideration of GBP 364,591 (approximately HKD 3,466,000), with a recognized gain of approximately HKD 8,581,000 due to the fair value exceeding the purchase price[7]. - The group successfully acquired two companies in the UK, JCW and Precision, which became majority-controlled and wholly-owned subsidiaries, respectively[59]. Credit and Receivables - The total trade receivables, net of credit loss provisions, reached HKD 1,003,086,000 for the year ended December 31, 2023, compared to HKD 808,169,000 in 2022[192]. - The group has confirmed a credit loss provision of approximately HKD 21,544,000 for trade receivables without credit impairment, up from HKD 15,787,000 in 2022[185]. - The group’s expected credit loss for trade receivables with credit impairment was approximately HKD 19,403,000 for the year ended December 31, 2023, compared to HKD 13,057,000 in 2022[185].

Financial Performance - Revenue for the six months ended June 30, 2023, was HKD 2,841.1 million, a decrease of 6.0% from HKD 3,021.7 million in 2022[6]. - Gross profit for the same period was HKD 453.8 million, slightly down from HKD 457.6 million, indicating a stable gross margin[6]. - Profit attributable to owners of the company surged to HKD 237.5 million, compared to HKD 59.2 million in the previous year, reflecting a significant increase of 301%[6]. - The group recorded a total comprehensive profit of HKD 237.5 million for the six months ended June 30, 2023, representing a significant year-on-year increase of 301.4%[19]. - The group's revenue for the six months ended June 30, 2023, was HKD 2.841 billion, a slight decrease from HKD 3.022 billion for the same period in 2022[19]. - The group’s profit for the six months ended June 30, 2023, was HKD 237,520,000, a significant increase from HKD 59,175,000 in the same period of 2022, representing a growth of approximately 301%[166]. Dividends and Shareholder Returns - The company declared an interim dividend of HKD 0.0852 per share, with a payout ratio of 50% based on the unaudited net profit of HKD 237.5 million[6]. - The company declared an interim dividend of HKD 0.0852 per share, totaling HKD 118,891,000, for shareholders on record as of September 14, 2023[167]. Contract and Project Updates - The total value of contracts on hand reached HKD 12.276 billion, with a new maintenance contract value in building services engineering rising by 313% year-on-year to HKD 548.6 million[13]. - New contracts awarded in the building services engineering segment totaled HKD 2.4605 billion for the first half of 2023, down from HKD 3.5341 billion in the same period of 2022[24]. - Contract revenue from construction projects was HKD 2,219,660,000, down 11.3% from HKD 2,503,010,000 year-on-year[75]. Business Development and Strategy - The company established a new business development department focused on Smart Data Automation (SDA) to explore digital business development opportunities[13]. - The company is focusing on environmental engineering as a key development direction, capitalizing on the growing global emphasis on environmental issues[15]. - The group aims to strengthen its industry position through innovation and collaboration, ensuring readiness for future market opportunities[14]. - The group plans to activate a building in Kwai Chung as its headquarters, expected to commence operations in Q2 2024, enhancing operational efficiency and collaboration[23]. - The group plans to leverage human resources and innovative technologies to support its operational strategies in "new technology," "new markets," and "new business models"[45]. Market Outlook and Growth Opportunities - The construction industry in Hong Kong is projected to have a total engineering volume of HKD 240 billion to HKD 375 billion annually over the next decade, providing growth opportunities for the company[15]. - The overall engineering volume in Hong Kong's construction industry is expected to reach approximately HKD 300 billion annually over the next decade[110]. - The Hong Kong government plans to increase annual capital expenditure to over HKD 100 billion, focusing on housing and infrastructure investments[111]. - The group anticipates an optimistic business outlook due to strong bidding activities and growth opportunities across various business segments[110]. Financial Position and Cash Flow - The cash balance as of June 30, 2023, was HKD 835.1 million, down from HKD 976.0 million as of December 31, 2022[49]. - Cash and cash equivalents decreased to HKD 835,139,000 at the end of June 2023, down from HKD 1,073,704,000 at the end of June 2022, representing a decline of 22.15%[88]. - Net cash used in operating activities for the six months ended June 30, 2023, was HKD (76,308,000), a significant decline from HKD 399,055,000 in the same period of 2022, highlighting cash flow challenges[85]. - The group has pledged assets amounting to HKD 716.5 million as collateral for short-term bank financing and mortgage loans, compared to HKD 699.8 million as of December 31, 2022[104]. Employee and Operational Metrics - The group has employed 2,701 staff as of June 30, 2023, an increase from 2,516 staff as of June 30, 2022[108]. - The total employee costs, including directors' remuneration, amounted to HKD 656,723,000 for the six months ended June 30, 2023, down from HKD 682,067,000 in the same period of 2022, indicating a reduction of approximately 4%[156]. Technology and Innovation - The group has invested in new technologies such as digital twins, IoT, AI, and big data analytics to enhance operational efficiency and reduce costs[113]. - The group continues to adopt Building Information Modeling (BIM) and Mechanical, Electrical, and Plumbing (MiMEP) technologies to improve productivity and project quality[25]. Environmental and Sustainability Initiatives - The company is focusing on expanding its engineering capabilities and investing in advanced environmental processing technologies[81]. - The group recognizes significant business opportunities in advanced food waste processing technologies[110]. Risks and Challenges - The group does not face significant foreign exchange risks, as it primarily operates in Hong Kong, Macau, and mainland China, and has established forward contracts to manage currency risks[59]. - The company’s experience during the COVID-19 pandemic is expected to lead to improved business performance as commercial property rental rates recover[46].

Financial Performance - Revenue from the elevator and escalator business for the first half of 2023 was HKD 159.6 million, down from HKD 183.2 million in the same period of 2022, representing a decrease of 17.7%[2] - The group reported a total revenue of HKD 2.8411 billion for the first half of 2023, a decrease of HKD 180.7 million or 6.0% compared to the previous year[12] - The consolidated profit attributable to the company's owners for the six months ended June 30, 2023, was HKD 237.5 million, significantly up from HKD 59.2 million in the same period of 2022[13] - Other income for the six months ended June 30, 2023, was HKD 11.9 million, down from HKD 13.7 million in the same period of 2022, primarily due to the expiration of a lease contract[19] - The group recorded a net gain of HKD 144.5 million for the six months ended June 30, 2023, compared to a gain of HKD 25 million in the same period of 2022, mainly due to a diluted gain from a private placement in a joint venture[20] - The profit attributable to owners of the company for the six months ended June 30, 2023, was HKD 237.5 million, significantly up from HKD 59.2 million in the previous year[44] - The group recorded a consolidated net profit of HKD 237.5 million for the six months ended June 30, 2023, representing a significant increase of 301.4% year-on-year[172] Revenue Breakdown - Revenue from contracting services was HKD 2,219,660, down from HKD 2,503,010, representing a decline of 11.3%[90] - Revenue from maintenance services increased to HKD 565,122, up 23.0% from HKD 460,008 in the previous year[90] - The segment revenue breakdown shows that the building services segment generated HKD 1,747,968, while the environmental engineering segment contributed HKD 622,524[81] - The environmental engineering business generated revenue of HKD 622.5 million in the first half of 2023, up from HKD 499.5 million in the same period of 2022[178] - The ICBT business revenue for the first half of 2023 increased by 2.5% to HKD 310.9 million compared to HKD 303.4 million in the same period of 2022[180] Cash Flow and Assets - The cash balance as of June 30, 2023, was HKD 835.1 million, down from HKD 976 million as of December 31, 2022[14] - The group’s total assets as of June 30, 2023, were HKD 3,411.1 million, compared to HKD 3,519.8 million as of December 31, 2022[51] - The total accounts receivable as of June 30, 2023, was HKD 781,866,000, a decrease from HKD 808,169,000 as of December 31, 2022[155] - The group reported total liabilities of HKD 1,469,301,000 as of June 30, 2023, compared to HKD 1,494,963,000 as of December 31, 2022[156] - The group has pledged assets amounting to HKD 716.5 million as collateral for general short-term bank financing and mortgage loans, an increase from HKD 699.8 million as of December 31, 2022[185] Strategic Initiatives - Anlev has secured strategic orders from various regions including Canada, Mexico, Singapore, and mainland China during the reporting period[4] - The company aims for 60% of its engineering and frontline staff to obtain external BIM certification by mid-2024, with 36% already certified as of June 30, 2023[7] - The group has established a new business unit focused on Smart Data Automation (SDA) to enhance innovation and resource management[6] - The company plans to expand its global presence by seeking new distributors in the US, Europe, the Middle East, and Southeast Asia[5] - The group plans to operationalize the revitalized headquarters, ATAL Tower, in the second quarter of 2024 to enhance operational efficiency and collaboration[174] Employee Development - The group conducted a total of 238 internal training sessions, totaling over 23,000 hours, to enhance employee skills and knowledge in the first half of 2023[25] - The group is committed to employee development and diversity, recognizing that attracting and retaining talent is key to long-term success[189] Market Conditions and Challenges - The group plans to continue focusing on business fundamentals to overcome challenges and drive growth, including restructuring business units and enhancing corporate governance[30] - The group’s cash flow forecasts have been reassessed due to ongoing unfavorable market conditions in the U.S.[134] - The group is addressing labor shortages in the industry through government initiatives aimed at ensuring adequate workforce availability[192] Dividends and Shareholder Returns - The board declared an interim dividend of HKD 0.0852 per share, with a payout ratio of 50% based on the unaudited net profit of HKD 237.5 million[44] - The company declared an interim dividend of 8.52 HKD cents per share, totaling 118,891,000 HKD, reflecting a commitment to returning value to shareholders[113] Investment and Future Opportunities - The company aims to explore potential investment opportunities for synergy and engage in equity cooperation, including public-private partnerships for projects along the Belt and Road Initiative[160] - The group is actively seeking suitable business partnerships to expand its operations in the US and Europe, particularly focusing on the UK market[194] Financial Reporting and Compliance - The company has applied new and revised Hong Kong Financial Reporting Standards, which did not have a significant impact on the financial position and performance for the period ended June 30, 2023[57] - The financial statements for the six months ended June 30, 2023, were prepared on a historical cost basis, except for certain properties and financial instruments measured at fair value[68]

Corporate Governance - The board of directors has established an audit committee consisting of two independent non-executive directors and one non-executive director, focusing on financial monitoring and risk management[1]. - The audit committee reviewed the effectiveness of the risk management and internal control systems covering financial, operational, and compliance monitoring[20]. - The board will conduct annual reviews of the risk management and internal control systems to ensure their effectiveness[20]. - The company has a policy to promote anti-corruption laws and regulations, integrated into its code of conduct[19]. - The company has established a risk management committee to monitor and assess economic sanction risks[126]. - The company has complied with the applicable regulations regarding related party transactions as per the Listing Rules[124]. - The company has maintained the public float required by the Listing Rules[127]. - The independent auditor's report highlighted the accounting treatment of construction contracts as a key audit matter due to its significant impact on the financial statements[131]. - The company has established an effective internal control framework to identify and monitor significant risks related to sanctions laws[149]. Financial Performance - The company recognized revenue of approximately HKD 5,394,415,000 from contracting services for the year ended December 31, 2022[131]. - The company's revenue for 2022 was HKD 6,474,650,000, an increase from HKD 5,350,720,000 in 2021, representing a growth of approximately 20.9%[188]. - The operating profit before tax decreased to HKD 176,461,000 in 2022 from HKD 378,866,000 in 2021, a decline of about 53.4%[188]. - The total comprehensive income for the year was HKD 58,335,000 in 2022, a significant drop from HKD 336,557,000 in 2021, indicating a decline of about 82.7%[188]. - The company experienced a loss in the fair value of investment properties amounting to HKD 210,000 in 2022, compared to a gain of HKD 400,000 in 2021[188]. - The financial costs increased to HKD 12,095,000 in 2022 from HKD 4,910,000 in 2021, representing an increase of approximately 146.5%[188]. - The company recorded a provision for litigation liabilities amounting to HKD 150,000,000 in 2022, which was not present in 2021[188]. - The basic and diluted earnings per share for 2022 were both HKD 0.08, down from HKD 0.22 in 2021, reflecting a decrease of approximately 63.6%[188]. - The company noted a significant decrease in expected credit loss provisions, with a net amount of HKD (9,247,000) in 2022 compared to HKD 14,710,000 in 2021, indicating a reversal of losses[188]. Shareholder Matters - The company declared a special dividend of HKD 0.045 per share to shareholders as a celebration of its 45th anniversary, expected to be paid around April 28, 2023[33]. - The board does not recommend a second interim dividend for the year, pending future financial assessments[34]. - The company’s dividend policy allows all shareholders to receive dividends based on the company's articles of association[50]. - The company will suspend the transfer of shares from April 17 to April 18, 2023, to determine eligible shareholders for special dividends[35]. - The company has adopted a shareholder communication policy to facilitate effective communication between the company and its shareholders[46]. - The company emphasizes the importance of regular communication with shareholders to ensure they are well-informed about the company's strategies and performance[48]. Employee Compensation - The remuneration committee approved salary increases for full-time employees and recommended share awards as part of the company's 45th anniversary celebration[6]. - The company aims to ensure competitive compensation to attract and retain quality employees, reflecting its commitment to business development[8]. Financial Position - Total non-current assets decreased from HKD 1,380,723,000 in 2021 to HKD 1,292,414,000 in 2022, a decline of approximately 6.4%[140]. - Current assets increased from HKD 3,068,435,000 in 2021 to HKD 3,519,800,000 in 2022, an increase of approximately 14.7%[140]. - Total current liabilities rose from HKD 1,972,077,000 in 2021 to HKD 2,413,458,000 in 2022, an increase of approximately 22.3%[140]. - The total assets less current liabilities decreased from HKD 2,477,081,000 in 2021 to HKD 2,398,756,000 in 2022, a decline of approximately 3.2%[140]. - Total equity as of December 31, 2022, is HKD 2,062,906,000, a decrease from HKD 2,129,699,000 in 2021, representing a decline of approximately 3.1%[183]. - The company's reserves as of December 31, 2022, stand at HKD 2,048,906,000, a decrease of approximately 3.1% from HKD 2,115,699,000 in 2021[183]. - The deferred tax liabilities decreased to HKD 17,944,000 in 2022 from HKD 21,092,000 in 2021, reflecting a decline of about 15.9%[183]. - The total liabilities, including non-current liabilities, are HKD 2,398,756,000, down from HKD 2,477,081,000 in 2021, showing a decrease of approximately 3.2%[183]. Investments and Acquisitions - The company’s main business is investment holding, with significant subsidiaries detailed in the consolidated financial statements[31]. - The group has the option to apply a concentration test for each transaction, allowing for simplified assessment of acquired businesses and assets[67]. - When acquiring a group of assets that do not constitute a business, the group identifies and recognizes individual identifiable assets and liabilities based on their fair value[68]. - Business combinations are accounted for using the acquisition method, with the consideration transferred measured at fair value[69]. - At the acquisition date, identifiable assets and liabilities are recognized at their fair value, excluding deferred tax assets or liabilities and employee benefit-related assets or liabilities[72]. Cash Flow and Financing - Net cash generated from operating activities increased significantly to HKD 441,748,000 in 2022, compared to HKD 226,752,000 in 2021, marking an increase of approximately 94.7%[188]. - Cash and cash equivalents increased by HKD 195,247 million in 2022, compared to a decrease of HKD (319,296) million in 2021[195]. - Total cash and cash equivalents at the end of 2022 stood at HKD 976,028 million, up from HKD 801,738 million at the end of 2021, an increase of 21.7%[195]. - The company repaid bank loans amounting to HKD 234,625 million in 2022, compared to HKD 25,000 million in 2021, indicating a significant increase in debt repayment[195]. - New bank loans raised in 2022 amounted to HKD 220,000 million, down from HKD 317,500 million in 2021, a decrease of 30.8%[195]. - The cash flow from financing activities showed a net outflow of HKD 245,483 million in 2022, contrasting with a net inflow of HKD 81,464 million in 2021[195]. - The company received government grants related to property, plant, and equipment totaling HKD 842 million in 2022[195]. Shareholder Ownership - As of December 31, 2022, Dr. Pan Le Tao holds 888,650,000 shares, representing approximately 63.48% of the company's issued share capital[90][91]. - Mr. Webb David Michael has a beneficial interest in 98,242,000 shares, which accounts for 7.01% of the total[97]. - The company’s major shareholder, Arling Investment Limited, directly holds 888,650,000 shares, constituting 63.48% of the total issued share capital[93]. - The percentage of equity held by major shareholders is based on a total of 1,400,000,000 issued shares[96]. - HSBC International Trustee Limited holds 888,650,000 shares, equivalent to 63.48% of the company's shares, as a trustee[118]. Miscellaneous - The group reported a total revenue from its top five customers accounting for 51.6% of total revenue, with the largest customer contributing 18.6%[59]. - The group's charitable and other donations for the year amounted to approximately HKD 705,000, a decrease from HKD 746,000 in 2021[37]. - The total audit and non-audit service fees for the year were HKD 7,874,000, an increase from HKD 7,145,000 in 2021[41]. - The company has not granted, exercised, canceled, or forfeited any stock options under the stock option plan during the year[99]. - The company has no equity-linked agreements in place during the year, nor any that remain in effect at year-end[100]. - The company has not entered into any significant contracts with its controlling shareholders or their subsidiaries during the year[108]. - There were no interests held by directors in any competing businesses during the year[109]. - The company has adopted a stock incentive plan and a stock option plan, with details available in the financial statements[99]. - The company purchased a total of 10,800,000 shares under its share award scheme in 2022, compared to 14,000,000 shares in 2021, representing a reduction of about 22.9%[167]. - The company has established a statutory surplus reserve fund, requiring at least 10% of the after-tax profits to be allocated annually until the reserve reaches 50% of the registered capital[166]. - The company operates in various sectors, including mechanical and electrical engineering, environmental engineering, and infrastructure communication systems, indicating a diversified business model[171]. - The company has complied with the Hong Kong Financial Reporting Standards, ensuring that the financial statements reflect a true and fair view of the group's financial position as of December 31, 2022[180]. - The company has not identified any significant errors or misstatements in the financial statements due to fraud or error, ensuring a high level of assurance in the audit process[160].