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，並明確表示概不就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。 Tak Lee Machinery Holdings Limited 德 利 機 械 控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：2102） 截至二零二三年一月三十一日止六個月 中期業績公告 財務摘要 • 本集團於截至二零二三年一月三十一日止六個月錄得收入約131.6百萬港元， 較截至二零二二年一月三十一日止六個月的約181.5百萬港元減少約27.5%。 • 本集團的溢利及全面收益總額由截至二零二二年一月三十一日止六個月的 約17.1百萬港元減少約68.4%至截至二零二三年一月三十一日止六個月的約 5.4百萬港元。 • 截至二零二三年一月三十一日止六個月的每股盈利約為0.54港仙（截至二 零二二年一月三十一日止六個月：約1.71港仙）。 • 董事會議決不向其股東宣派截至二零二三年一月三十一日止六個月的任何 中期股息（截至二零二二年一月三十一日止六個月： 1.0港仙）。 ...

Financial Performance - The company reported a 14.3% decrease in net profit attributable to shareholders, amounting to approximately HKD 45.1 million for the year ended July 31, 2022, compared to HKD 52.6 million for the previous year[26]. - Earnings per share for the year ended July 31, 2022, were HKD 5.26, reflecting a 14.3% decline from HKD 5.26 in the prior year[26]. - The company reported a profit attributable to shareholders of approximately HKD 45.1 million for the year ended July 31, 2022, a decrease of about 14.3% from HKD 52.6 million for the previous year[35]. - Total revenue for the year ended July 31, 2022, was approximately HKD 395.2 million, a decrease of about HKD 90.6 million or 18.7% compared to HKD 485.8 million for the previous year[41]. - Revenue from the sale of heavy equipment and parts decreased from approximately HKD 257.2 million to about HKD 187.5 million, a decline of approximately HKD 69.7 million or 27.1%[42]. - Revenue from heavy equipment leasing decreased from approximately HKD 217.1 million to about HKD 197.0 million, a decline of approximately HKD 20.1 million or 9.3%[46]. - Revenue from maintenance and support services decreased from approximately HKD 11.5 million for the year ended July 31, 2021, to approximately HKD 10.7 million for the year ended July 31, 2022, a decline of about HKD 0.8 million or 7.0% due to a slowdown in repair services during the year[47]. - Gross profit decreased from approximately HKD 90.6 million for the year ended July 31, 2021, to approximately HKD 87.0 million for the year ended July 31, 2022, a decline of about 4.0%, while the gross profit margin increased to approximately 22.0% from 18.6%[49]. - Other income and net gains decreased from approximately HKD 9.3 million for the year ended July 31, 2021, to approximately HKD 7.2 million for the year ended July 31, 2022, a decline of about 22.6% mainly due to a reduction in government subsidies[54]. - Financing costs decreased by approximately 52.6% from about HKD 1.9 million for the year ended July 31, 2021, to approximately HKD 0.9 million for the year ended July 31, 2022, consistent with a reduction in average bank borrowings[57]. - The total employee cost for the year ended July 31, 2022, was approximately HKD 100.0 million, down from HKD 116.5 million in the previous year[160]. - The group employed 180 full-time employees as of July 31, 2022, a decrease from 215 employees a year earlier[160]. Dividends - The board proposed a final dividend of HKD 0.01 per share, bringing the total cash dividend for the year to HKD 0.02 per share, down from HKD 0.035 per share in the previous year[26]. - The proposed final dividend is HKD 0.01 per ordinary share, with a total cash dividend of HKD 0.02 per ordinary share for the year ended July 31, 2022, compared to HKD 0.035 for the previous year[62]. - The company reported a total cash dividend of HKD 2.0 per share for the year ended July 31, 2022, down from HKD 3.5 per share in the previous year[106]. Business Operations and Strategy - The company continues to provide "one-stop service" for earthmoving equipment users and employs flexible fleet management strategies for its leasing business[26]. - Advanced technologies are being utilized in the company's earthmoving equipment to enhance safety, productivity, and asset management[26]. - The company has become the exclusive distributor for Xwatch brand safety and control systems and an authorized distributor for the Mobile360 system, enhancing its product offerings[30]. - The company remains cautiously optimistic about the heavy equipment sales and leasing market, anticipating strong demand due to government infrastructure investments exceeding HKD 100 billion annually in the coming years[36]. - The company plans to continue expanding its supplier base and product offerings to enhance sustainability, productivity, and competitiveness[31]. - The company is committed to exploring new business opportunities and maintaining growth despite ongoing challenges[31]. Acquisitions - The company acquired 100% equity of Orange Fortune Limited for a cash consideration of HKD 22,000,000 during the fiscal year ending July 31, 2022[72]. - The acquisition of Orange Fortune Limited was recorded as an asset purchase rather than a business acquisition, thus no goodwill or bargain purchase gain was recognized[75]. - The acquisition aims to expand the company's operations by utilizing more space for fleet parking, maintenance, and increasing inventory of equipment and spare parts[164]. - The target company's properties are located near the company's main operational sites, facilitating management and reducing employee commuting time[164]. - The acquisition was approved at a special general meeting on February 8, 2022, and completed on February 28, 2022[166]. Financial Position - As of July 31, 2022, the current ratio was approximately 5.6 times, down from 6.1 times a year earlier, with total bank and cash balances of approximately HKD 87.2 million[63]. - The debt-to-equity ratio as of July 31, 2022, was approximately 7.4%, down from 8.9% a year earlier, indicating a stable financial condition[63]. - The company had no significant contingent liabilities or asset pledges as of July 31, 2022, maintaining a clean balance sheet[68][69]. - As of July 31, 2022, the company's issued share capital was HKD 10,000,000, with a total of 1,000,000,000 ordinary shares issued at a par value of HKD 0.01 each[70]. - As of July 31, 2022, the company has distributable reserves of approximately HKD 95.7 million, compared to HKD 99.3 million as of July 31, 2021[140]. Corporate Governance - The board presented its report and audited consolidated financial statements for the year ended July 31, 2022[103]. - The board consists of a chairman and CEO, three executive directors, and three independent non-executive directors[141]. - Independent non-executive directors have confirmed their independence according to the listing rules[146]. - The board has established a nomination policy to ensure a structured process for selecting and re-electing directors[195]. - The company emphasizes the importance of board diversity, implementing measurable goals to enhance board effectiveness[196]. - Each director has undergone formal training to ensure they are well-informed about the company's operations and regulatory responsibilities[187]. - The company has adopted a standard code of conduct for securities trading, which all directors have confirmed to comply with[185]. - The board's composition and skills are regularly reviewed to ensure alignment with the company's business needs and shareholder structure[195]. - The company encourages ongoing professional development for all directors to enhance their knowledge and skills[187]. - The board held five meetings during the fiscal year ending July 31, 2022, with all directors attending all meetings[199]. - The roles of Chairman and CEO are not separated, with Mr. Zhou serving in both capacities since the company's establishment in 2001, which is believed to benefit the group's operations and management[200]. Market Conditions - The impact of the COVID-19 pandemic on the local economy remains uncertain, but the company is monitoring the situation closely[36]. - The company has experienced over 7 years of sales and service support management experience in the heavy equipment industry[100]. - The company has a strong focus on after-sales service and parts sales, with Li Shun-An overseeing these operations since 2014[101]. Compliance and Regulations - The company maintained compliance with relevant laws and regulations during the year ended July 31, 2022[114]. - The company has established safety, quality, and environmental management systems to meet customer requirements[113]. - The company has maintained compliance with listing rules, ensuring at least three independent non-executive directors, constituting at least one-third of the board[183]. - The board believes that the company has complied with the disclosure requirements under the Listing Rules[166]. - The company has not changed its independent auditor in the past three years[174]. - No significant events affecting the group have occurred after the fiscal year ending July 31, 2022, up to the report date[175].

Financial Performance - The group recorded revenue of approximately HKD 181.5 million for the six months ended January 31, 2022, a decrease of about 30.8% compared to approximately HKD 262.2 million for the same period in 2021[6]. - The total profit and comprehensive income decreased by approximately 44.8% to about HKD 17.1 million for the six months ended January 31, 2022, down from approximately HKD 31.0 million for the same period in 2021[6]. - Earnings per share for the six months ended January 31, 2022, was approximately HKD 1.71, compared to HKD 3.10 for the same period in 2021[6]. - Gross profit for the six months ended January 31, 2022, was HKD 40.1 million, down from HKD 48.8 million in the same period in 2021[8]. - Operating profit for the six months ended January 31, 2022, was HKD 20.8 million, compared to HKD 37.0 million for the same period in 2021[8]. - The company reported a total comprehensive income of HKD 17,103,000 for the period, compared to HKD 30,957,000 in the previous year, reflecting a decline of 44.7%[11]. - The company's profit attributable to owners for the six months ended January 31, 2022, was HKD 17,103,000, a decrease of 44.1% compared to HKD 30,957,000 for the same period in 2021[31]. - Total profit and comprehensive income for the period decreased by approximately 44.8% to approximately HKD 17.1 million, with a net profit margin dropping from approximately 11.8% to about 9.4%[60]. Revenue Breakdown - Revenue from the sale of heavy equipment and parts was HKD 72,387,000, down 51.0% from HKD 147,597,000 in the previous year[20]. - Rental income from heavy equipment was HKD 104,381,000, slightly down by 4.8% from HKD 109,041,000 in the previous year[20]. - Revenue decreased by approximately 30.8% to about HKD 181.5 million from approximately HKD 262.2 million for the six months ended January 31, 2021, primarily due to a reduction in heavy equipment and parts sales[51]. Cash Flow and Assets - For the six months ended January 31, 2022, the company reported a net cash inflow from operating activities of HKD 49,654,000, a significant increase from HKD 19,486,000 in the same period last year, representing a growth of 154.5%[12]. - The group’s cash and cash equivalents as of January 31, 2022, were HKD 108.2 million, compared to HKD 109.2 million as of July 31, 2021[9]. - The company’s total equity as of January 31, 2022, was HKD 426,605,000, a slight decrease from HKD 429,502,000 as of August 1, 2021[11]. - Total assets less current liabilities as of January 31, 2022, amounted to HKD 449.5 million, a slight decrease from HKD 455.5 million as of July 31, 2021[9]. Dividends - The board declared an interim dividend of HKD 0.01 per ordinary share, expected to be paid in cash on or around May 3, 2022[6]. - The company paid dividends of HKD 20,000,000 during the period, compared to HKD 10,000,000 in the previous year, indicating a 100% increase in dividends paid[11]. - The company declared an interim dividend of HKD 10,000,000 for the six months ended January 31, 2022, compared to HKD 15,000,000 for the same period in 2021[41]. Costs and Expenses - The cost of goods sold for the period was HKD 61,177,000, down 51.6% from HKD 126,359,000 in the previous year[29]. - The cost of revenue for the period was approximately HKD 141.4 million, a decrease of about 33.7% from approximately HKD 213.4 million for the same period last year[52]. - Employee costs for the period were approximately HKD 53.5 million, down from approximately HKD 60.6 million for the same period last year[67]. - Administrative and other operating expenses increased by approximately HKD 0.6 million or about 3.1% to approximately HKD 20.0 million for the period[57]. - Financing costs decreased by approximately HKD 0.8 million or about 61.5% to approximately HKD 0.5 million for the period, attributed to a reduction in average bank borrowings[58]. - Income tax expenses decreased by approximately HKD 1.5 million or about 32.0% due to a reduction in taxable profits for the period[59]. Market and Business Outlook - The company remains cautiously optimistic about the outlook for heavy equipment sales and rentals, anticipating strong demand due to government infrastructure investment plans exceeding HKD 100 billion annually[49]. - The company has not reported any significant new product developments or market expansions during this period[20]. - The company continues to focus on its core business of selling and renting heavy equipment and providing maintenance services in Hong Kong[20]. Corporate Governance - The board believes that Mr. Zhou serving as both Chairman and CEO aligns with the company's operational interests and provides strong leadership[76]. - There are no known conflicts of interest or competitive business interests held by directors or major shareholders during the period[78]. - The company has complied with all applicable corporate governance code provisions during the reporting period, except for the separation of the roles of Chairman and CEO[76]. Other Information - The company has not granted or agreed to grant any share options under the share option scheme since its adoption on June 30, 2017, and there are no unexercised options as of January 31, 2022[77]. - The company has not purchased, sold, or redeemed any of its listed securities during the period[79]. - The interim results and report for the period are unaudited but have been reviewed by the audit committee[85]. - No significant events occurred after the reporting period, aside from those disclosed in the financial statements[84].

Financial Performance - The company recorded a net profit attributable to shareholders of approximately HKD 52.6 million for the year ended July 31, 2021, representing an increase of about 2.5% compared to HKD 51.3 million for the previous year[22]. - Earnings per share for the year ended July 31, 2021, increased by 2.5% to HKD 0.0526, up from HKD 0.0513 in the previous year[22]. - Total revenue for the year ended July 31, 2021, was approximately HKD 485.8 million, a decrease of about HKD 143.0 million or 22.7% from approximately HKD 628.8 million for the previous year[34]. - Revenue from heavy equipment and parts sales decreased by approximately HKD 195.2 million or 43.1%, from approximately HKD 452.4 million to approximately HKD 257.2 million[35]. - Heavy equipment rental income increased by approximately HKD 46.7 million or 27.4%, from approximately HKD 170.4 million to approximately HKD 217.1 million[36]. - Revenue from maintenance and support services rose by approximately HKD 5.5 million or 91.7%, from approximately HKD 6.0 million to approximately HKD 11.5 million[37]. - The company's profit attributable to owners increased by approximately HKD 1.3 million or 2.5% to approximately HKD 52.6 million, with a net profit margin rising to 10.8% from 8.2%[49]. - Gross profit decreased from approximately HKD 107.1 million for the year ended July 31, 2020, to approximately HKD 90.6 million for the year ended July 31, 2021, a decline of about 15.4%[41]. - Other income and net gains increased from approximately HKD 3.1 million to approximately HKD 9.3 million, representing a growth of about 200.0%, mainly due to a subsidy of approximately HKD 7.1 million from the Hong Kong government's "Employment Support Scheme"[42]. Dividends - The board proposed a final dividend of HKD 0.02 per share, with a total cash dividend of HKD 0.035 per share for the year, compared to HKD 0.025 per share in the previous year[22]. - The proposed final dividend is HKD 0.02 per share, with a total cash dividend of HKD 0.035 per share for the year ended July 31, 2021, compared to HKD 0.025 per share for the previous year[52]. Market Outlook - The company remains optimistic about the heavy equipment sales and rental market in Hong Kong, driven by ongoing large-scale infrastructure projects[26]. - The government is expected to invest over HKD 100 billion annually in public works projects, which is anticipated to drive demand for heavy equipment in the coming years[31]. - The company has outlined a positive outlook for the upcoming fiscal year, projecting a revenue growth of 10% to 12% based on current market trends and customer demand[89]. Operational Strategies - The company continues to provide "one-stop service" for earthmoving equipment users and has adopted flexible fleet management strategies for its rental business[23]. - The company is adopting digitalization and automation technologies, including the ConSite® system for real-time location detection and overheating alerts for Hitachi excavators[24]. - The company has introduced hybrid hydraulic excavators and has rented out its first electric excavator in Hong Kong, showcasing its commitment to energy efficiency[26]. - The company has implemented new strategies to improve operational efficiency, aiming for a 5% reduction in costs through process optimization[89]. Supplier and Customer Relationships - The company has established strong relationships with suppliers such as Hitachi Construction Machinery, Bell Equipment Company, and Ammann BauAusrüstung, which will continue to provide competitive advantages in the Hong Kong market[23]. - The top five customers accounted for 44.4% of total revenue for the year ended July 31, 2021, an increase from 43.7% in the previous year, with the largest customer contributing 15.7%[104]. - The top five suppliers represented 73.4% of total procurement for the year ended July 31, 2021, up from 71.6% in the previous year, with the largest supplier accounting for 54.9%[104]. Financial Position - Revenue cost for the year ended July 31, 2021, was approximately HKD 395.2 million, a decrease of about HKD 126.5 million or 24.2% compared to HKD 521.7 million for the year ended July 31, 2020[40]. - The current ratio improved to approximately 6.1 times as of July 31, 2021, compared to 3.3 times as of July 31, 2020, primarily due to a reduction in bank borrowings by approximately HKD 42.4 million[53]. - The debt-to-equity ratio was approximately 8.9% as of July 31, 2021, down from 19.1% as of July 31, 2020[53]. Corporate Governance - The board consists of seven members, including three executive directors, one non-executive director, and three independent non-executive directors, responsible for managing and operating the group's business[66]. - The board is committed to implementing good corporate governance to enhance shareholder value[156]. - The company has established a nomination policy to determine the skills and experience required for new directors[168]. - The board's governance functions include the development and review of corporate governance policies and practices[196]. Employee and Management - The total employee cost for the year ended July 31, 2021, was approximately HKD 116.5 million, an increase from HKD 92.6 million in the previous year[141]. - The group employed 215 full-time employees as of July 31, 2021, compared to 211 employees a year earlier[141]. - The company emphasizes the importance of training for directors, providing formal and targeted onboarding as well as ongoing training to enhance their knowledge and skills[172]. Risk Management - The company is closely monitoring the impact of the COVID-19 pandemic on its industry while implementing strategies to achieve growth[31]. - The group is exposed to foreign currency risks due to transactions, assets, and liabilities primarily denominated in HKD, JPY, EUR, and USD, with no current foreign currency hedging policy in place[62]. - The board is responsible for reviewing and monitoring compliance with legal and regulatory requirements, as well as corporate governance policies[196].

Financial Performance - The company reported a profit attributable to owners of approximately HKD 31.0 million for the six months ended January 31, 2021, representing an increase of about 11.9% compared to HKD 27.7 million for the same period in 2020[7]. - Earnings per share for the period was approximately HKD 3.10, up about 11.9% from HKD 2.77 in the previous year[9]. - Revenue for the six months ended January 31, 2021, was HKD 262.2 million, a decrease from HKD 351.0 million in the same period of 2020, reflecting a decline of approximately 25.3%[9]. - Gross profit for the period was HKD 48.8 million, down from HKD 56.3 million in the previous year, indicating a decrease of about 13.4%[9]. - Operating profit for the period was HKD 37.0 million, slightly down from HKD 37.1 million in the previous year, indicating a marginal decrease of about 0.2%[9]. - The total comprehensive income for the period was HKD 30,957,000, compared to HKD 27,688,000 for the same period in 2020, reflecting an increase of 8.2%[25]. - The company's profit for the period attributable to owners was HKD 30,957,000, an increase of 11.8% from HKD 27,688,000 in the prior year[38]. - The cost of goods sold for the six months ended January 31, 2021, was HKD 126,359,000, down from HKD 225,552,000 in the same period of 2020, indicating a reduction of approximately 44%[37]. - The cost of revenue for the period was approximately HKD 213.4 million, a decrease of about 27.6% from approximately HKD 294.7 million in the same period last year[61]. - Gross profit decreased to approximately HKD 48.8 million, down about 13.3% from approximately HKD 56.3 million, with a gross margin of approximately 18.6%[62]. Dividends and Shareholder Returns - The board declared an interim dividend of HKD 0.015 per share, expected to be paid on April 27, 2021[8]. - The company paid dividends of HKD 10,000,000 during the period[25]. Assets and Financial Position - Total assets as of January 31, 2021, were HKD 445.4 million, compared to HKD 426.2 million as of July 31, 2020, showing an increase of about 4.9%[12]. - The company's net asset value increased to HKD 422.9 million from HKD 401.9 million, reflecting a growth of approximately 5.3%[12]. - As of January 31, 2021, the current ratio was approximately 3.7 times, up from about 3.3 times on July 31, 2020, indicating improved liquidity[70]. - The group reported an asset-to-equity ratio of approximately 17.3% as of January 31, 2021, down from about 19.1% on July 31, 2020, reflecting a stronger financial position[70]. - The group had cash and bank balances of approximately HKD 72.0 million as of January 31, 2021, an increase from about HKD 69.3 million on July 31, 2020, primarily due to operating cash inflows[70]. Government Support and Grants - The company received subsidies from the Hong Kong government's "Employment Support Scheme," contributing to the profit growth[7]. - Government grants received during the period amounted to HKD 7,142,000, compared to none in the previous year[25]. - Other income and net gains increased by approximately 406.3% to about HKD 8.1 million, mainly due to a subsidy of approximately HKD 7.1 million from the Hong Kong government's "Employment Support Scheme"[63]. Operational Highlights - Sales of heavy equipment and parts amounted to HKD 147,597,000, down 44.2% from HKD 264,775,000 in the previous year[25]. - Rental income from heavy equipment increased to HKD 109,041,000, up 30.0% from HKD 83,904,000 in the prior year[25]. - The company continues to focus on expanding its heavy equipment rental services in Hong Kong[26]. - The company remains cautiously optimistic about the heavy equipment sales and rental outlook, driven by ongoing large-scale infrastructure projects in Hong Kong[57]. - The company plans to increase its supplier base and product mix to strengthen its competitive advantage in the heavy equipment market[57]. Employee and Operational Costs - The total employee cost for the period was approximately HKD 60.6 million, compared to about HKD 41.8 million for the six months ended January 31, 2020, indicating increased investment in human resources[77]. - Administrative and other operating expenses decreased by about 3.5% to approximately HKD 19.4 million from approximately HKD 20.1 million in the previous period[64]. - Financing costs decreased significantly to HKD 1.3 million from HKD 3.6 million, a reduction of approximately 63.6%[9]. Corporate Governance and Structure - The chairman and CEO roles are not separated, as the chairman is also a founder and has been managing the group since its establishment in 2001[86]. - The board believes that the dual role of the chairman and CEO aligns with the interests of the group's business operations and management[86]. - The company has complied with all applicable corporate governance code provisions during the reporting period[86]. - The interim results and report for the period were unaudited but reviewed by the audit committee, which consists of three independent non-executive directors[95]. Risks and Uncertainties - The financial status, operational performance, and business outlook of the group may be affected by various risks and uncertainties[93]. - The group has no foreign currency hedging policy in place and will continue to monitor foreign currency risks closely[72]. Miscellaneous - The group had no major acquisitions or disposals during the period, with capital commitments of approximately HKD 1.0 million as of January 31, 2021[73]. - The group employed 240 full-time employees as of January 31, 2021, an increase from 211 employees on July 31, 2020, reflecting growth in operations[77]. - As of January 31, 2021, Generous Way Limited holds 750,000,000 shares, representing 75% of the company's issued shares[84]. - The company has not granted or agreed to grant any share options under the share option scheme since its adoption on June 30, 2017, and there are no unexercised options as of January 31, 2021[87]. - There were no significant events affecting the group after January 31, 2021, up to the report date[94]. - The company and its subsidiaries did not purchase, sell, or redeem any of the company's listed securities during the reporting period[91].

Financial Performance - The company reported a 32.9% increase in net profit attributable to shareholders, reaching approximately HKD 51.3 million for the year ended July 31, 2020, compared to HKD 38.6 million for the previous year[30]. - Earnings per share rose to HKD 5.13, up 32.9% from HKD 3.86 in the prior year[30]. - Total revenue for the year ended July 31, 2020, was approximately HKD 628.8 million, an increase of about HKD 56.8 million or 9.9% from approximately HKD 572.0 million for the year ended July 31, 2019[43]. - Gross profit increased to approximately HKD 107.1 million, an increase of about 33.2% from approximately HKD 80.4 million for the previous year, with a gross margin of 17.0% compared to 14.1% the previous year[50]. - The company reported a profit attributable to shareholders of approximately HKD 51.3 million for the year ended July 31, 2020, representing an increase of about 32.9% compared to HKD 38.6 million for the year ended July 31, 2019[38]. - Revenue from heavy equipment rental increased to approximately HKD 170.5 million, a rise of about HKD 104.7 million or 159.1% compared to HKD 65.8 million for the previous year[45]. - Revenue from sales of heavy equipment and parts decreased to approximately HKD 452.4 million, down by about HKD 49.6 million or 9.9% from approximately HKD 502.0 million for the previous year[44]. Dividends - The total cash dividend for the year is HKD 2.5 per share, which includes a final dividend of HKD 1.0 and a special dividend of HKD 1.5, compared to HKD 0.5 per share in the previous year[30]. - The proposed final dividend is HKD 0.01 per share, which, if approved, will result in a total cash dividend of HKD 0.025 per share for the year ended July 31, 2020, compared to HKD 0.005 per share for the year ended July 31, 2019[58]. - The company reported a total cash dividend of HKD 2.5 per share for the year ended July 31, 2020, compared to HKD 0.5 per share in 2019, reflecting a significant increase of 400%[115]. Business Operations - The leasing business saw a significant pre-tax contribution growth of 106.0% due to demand driven by large infrastructure and reclamation projects[31]. - Major ongoing projects include the Lantau/Heung Yuen Wai Boundary Control Point, Shatin to Central Link, and the Hong Kong International Airport Three Runway System, with completion dates ranging from 2021 to 2027[30]. - The company continues to serve notable public and private project clients in Hong Kong, contributing to its operational growth despite challenging global conditions[30]. - The company has not reported any significant changes in its main business operations for the year ended July 31, 2020[107]. - The company has established safety, quality, and environmental management systems to meet customer requirements, highlighting its commitment to operational excellence[112]. Market Outlook - The company remains optimistic about the heavy equipment sales and rental market in Hong Kong, driven by planned infrastructure projects and strict environmental regulations[34]. - The company anticipates an average annual investment of HKD 100 billion in public works projects by the Hong Kong government over the next few years, which is expected to drive demand for heavy equipment[39]. - The company remains cautiously optimistic about the outlook for heavy equipment sales and rentals despite uncertainties related to the COVID-19 pandemic[39]. Management and Governance - The company is led by Chairman and CEO Mr. Zhou, who has over 22 years of experience in the heavy equipment industry[78]. - The company has a strong management team with diverse backgrounds in engineering, finance, and business development[78][83]. - The management team has a focus on strategic planning and business development to drive future growth[85]. - The company is committed to maintaining high standards of corporate governance and compliance, as evidenced by the experience of its independent directors[90]. - The board consists of seven directors, with non-executive directors (including independent non-executive directors) making up over 50% of the board members[191]. Employee and Operational Metrics - The group employed 211 full-time employees as of July 31, 2020, an increase from 117 employees as of July 31, 2019[170]. - The total employee cost for the year ended July 31, 2020, was approximately HKD 92.6 million, compared to HKD 30.6 million for the previous year[170]. - The company has been actively managing risks to minimize operational and financial uncertainties, emphasizing the importance of risk management practices[110]. Financial Position - The current ratio improved to approximately 3.3 times as of July 31, 2020, compared to approximately 2.3 times as of July 31, 2019, primarily due to a reduction in bank borrowings by approximately HKD 61.2 million[62]. - The debt-to-equity ratio decreased to approximately 19.1% as of July 31, 2020, from approximately 36.7% as of July 31, 2019[62]. - The cost of revenue for the year ended July 31, 2020, was approximately HKD 521.7 million, an increase of about HKD 30.0 million or 6.1% from approximately HKD 491.7 million for the previous year[49]. Risk Management - The company has been focusing on maintaining compliance with relevant laws and regulations, ensuring its operations are aligned with legal requirements[113]. - The company has no foreign currency hedging policy but will continue to monitor foreign currency risks closely[72]. Shareholder Information - As of July 31, 2020, Generous Way Limited holds 750,000,000 shares, representing 75% of the company's issued shares[160]. - The company has no arrangements that would allow directors to profit from acquiring shares or debt securities of the company or any other entity during the fiscal year ending July 31, 2020[163]. - The company has not identified any competing businesses or interests held by directors or controlling shareholders that could pose a conflict of interest[167].