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盈汇企业控股(02195) - 2023 - 年度业绩
2024-03-26 08:39
Financial Performance - Revenue increased by approximately 3.6% to about HKD 110.0 million for the year ended December 31, 2023, compared to HKD 106.2 million in 2022[4] - The group recorded a gross loss of approximately HKD 16.6 million for the year ended December 31, 2023, compared to a gross profit of HKD 9.8 million in 2022[4] - The loss attributable to equity holders of the company was approximately HKD 29.4 million for the year ended December 31, 2023, compared to HKD 7.4 million in 2022[4] - Basic loss per share was approximately HKD 0.0294 for the year ended December 31, 2023, compared to HKD 0.0074 in 2022[4] - The group reported a loss before tax of approximately HKD 29,412,000 for the year, compared to a loss of HKD 7,409,000 in 2022[29] - The total loss and comprehensive expenses for the year ended December 31, 2023, amounted to approximately HKD 29.4 million, an increase from HKD 7.4 million in 2022, primarily due to increased construction costs[53] - The net loss margin for the year ended December 31, 2023, was approximately 26.7%, compared to 7.0% in 2022[54] Revenue Sources - The group’s revenue is derived from providing RMAA engineering services, with all contracts primarily being fixed-price contracts[20] - Total revenue from customer contracts for 2023 was HKD 110,034,000, compared to HKD 106,187,000 in 2022, reflecting an increase of approximately 1.7%[20] - The group reported revenue from major customers exceeding 10% of total revenue, with Customer A contributing HKD 53,350,000, Customer B contributing HKD 28,060,000, and Customer C contributing HKD 15,211,000 for the year 2023[19] - Revenue for the year ended December 31, 2023, was approximately HKD 110.0 million, an increase from HKD 106.2 million in 2022, primarily driven by projects related to the Small Island Comprehensive Rehabilitation Services Building[46] Assets and Liabilities - Total assets decreased to HKD 125.996 million in 2023 from HKD 155.348 million in 2022[7] - Current liabilities decreased to HKD 51.450 million in 2023 from HKD 99.132 million in 2022[7] - Cash and cash equivalents decreased to HKD 10.1 million in 2023 from HKD 24.54 million in 2022[7] - Trade receivables amounted to HKD 110,582,000, with an allowance for credit losses of HKD 16,015,000, resulting in a net receivable of HKD 94,567,000[31] - Contract assets, net of credit loss allowance, were HKD 23,850,000, with expected recoverable amounts in one year being approximately HKD 20,328,000[34] - Trade payables decreased to HKD 37.415 million in 2023 from HKD 57.999 million in 2022, with a significant increase in payables due within one month to HKD 5.967 million from HKD 2.030 million[36] Expenses - Employee benefit expenses for the year were approximately HKD 4,145,000, down from HKD 6,390,000 in 2022[24] - Administrative expenses decreased from approximately HKD 12.0 million for the year ended December 31, 2022, to about HKD 9.3 million for the year ended December 31, 2023, representing a reduction of approximately HKD 2.7 million or 22.4%[50] - Financing costs increased from approximately HKD 14,000 for the year ended December 31, 2022, to about HKD 53,000 for the year ended December 31, 2023, due to bank borrowings of HKD 4.0 million[51] - Income tax expenses decreased from approximately HKD 4.5 million for the year ended December 31, 2022, to about HKD 1.6 million for the year ended December 31, 2023[52] Dividends - No final dividend was declared for the year ended December 31, 2023[4] - The company did not declare or propose any dividends to ordinary shareholders for the year ending December 31, 2023[28] - The company does not plan to pay any dividends to ordinary shareholders for the year ending December 31, 2023[73] Corporate Governance - The company maintains high standards of corporate governance and has adopted the corporate governance code as its own[80] - All directors confirmed compliance with the standards for securities trading as of December 31, 2023[81] - The audit committee, consisting of three independent non-executive directors, confirmed the financial performance for the fiscal year ending December 31, 2023, was prepared in accordance with applicable accounting standards[85] - The company confirmed that it maintained sufficient public float as required by listing rules as of December 31, 2023[90] Future Plans and Investments - The company plans to enhance its RMAA engineering capabilities and improve overall competitiveness through the acquisition of a company engaged in RMAA contracting services and building materials distribution in Hong Kong[44] - There are no significant investments or capital asset plans other than the acquisition of 100% equity in a target company as disclosed on March 22, 2024[78] - Keybase Assets Limited agreed to acquire 100% of the target company's shares for HKD 22,000,000, to be settled through the issuance of 174,603,175 shares[88] Employee Management - The company has implemented an annual evaluation system to assess employee performance, which influences salary increases, bonuses, and promotions[72] - As of December 31, 2023, the company employed 25 employees in Hong Kong, a decrease from 34 employees as of December 31, 2022[72] Upcoming Events - The annual general meeting is scheduled for June 21, 2024, with relevant notices to be issued in accordance with listing rules[91] - The company will suspend share registration procedures from June 18 to June 21, 2024, to determine shareholder eligibility for the annual general meeting[92] - The annual results announcement for the fiscal year ending December 31, 2023, will be published on the company's website and the stock exchange website in April 2024[93]
盈汇企业控股(02195) - 2023 - 中期财报
2023-09-21 08:32
Financial Performance - For the six months ended June 30, 2023, the company's revenue decreased by approximately 41.1% to about HKD 40.6 million, compared to HKD 68.9 million for the same period in 2022[4] - The company recorded a gross loss of approximately HKD 5.6 million for the six months ended June 30, 2023, down from a gross profit of about HKD 12.9 million for the same period in 2022[4] - The net loss attributable to equity holders for the six months ended June 30, 2023, was approximately HKD 6.5 million, compared to a profit of about HKD 6.8 million for the same period in 2022[4] - The basic loss per share for the six months ended June 30, 2023, was approximately HKD 0.65, compared to earnings of about HKD 0.68 per share for the same period in 2022[4] - The total comprehensive loss for the six months ended June 30, 2023, was approximately HKD 6.5 million, a decrease of about HKD 13.2 million compared to a total comprehensive income of approximately HKD 6.8 million for the same period in 2022[21] - The group reported a revenue of HKD 40,557,000 for the six months ended June 30, 2023, a decrease of 41% compared to HKD 68,899,000 in the same period of 2022[67] - The gross loss for the period was HKD 5,566,000, compared to a gross profit of HKD 12,871,000 in the previous year[67] - The net loss attributable to equity holders of the company was HKD 6,460,000, compared to a profit of HKD 6,765,000 in the same period last year[67] - For the six months ended June 30, 2023, the group reported a loss before tax of approximately HKD 6,460,000, compared to a profit of HKD 6,765,000 for the same period in 2022, indicating a significant decline in performance[98] Cost Management - The company implemented strict cost control measures, reducing administrative expenses from approximately HKD 5.2 million for the six months ended June 30, 2022, to about HKD 4.6 million for the same period in 2023[8] - Administrative expenses decreased from approximately HKD 5.2 million for the six months ended June 30, 2022, to approximately HKD 4.6 million for the six months ended June 30, 2023, representing a reduction of about HKD 0.6 million or 11.3%[16] - Financing costs for the six months ended June 30, 2023, were approximately HKD 4,000, down from approximately HKD 7,000 for the same period in 2022[17] - Total employee benefit expenses for the six months ended June 30, 2023, amounted to HKD 4,636,000, down 10.8% from HKD 5,196,000 in the same period of 2022[94] Revenue Sources - Revenue from major clients included HKD 19,221,000 from Client A, up from HKD 16,111,000 in 2022, while Client B's revenue decreased to HKD 9,153,000 from HKD 16,461,000[88] - The group’s revenue from residential projects was HKD 29,916,000, down from HKD 47,827,000 in 2022, indicating a decline of 37.5%[91] - The group’s major clients contributed over 10% of total revenue, highlighting reliance on key customers for financial performance[88] Assets and Liabilities - Current assets as of June 30, 2023, were approximately HKD 148.1 million, down from approximately HKD 154.4 million as of December 31, 2022[22] - The total assets decreased from HKD 253,537,000 as of December 31, 2022, to HKD 189,310,000 as of June 30, 2023[69] - Trade receivables decreased significantly from HKD 158,522,000 to HKD 102,586,000 over the same period[69] - Trade receivables as of June 30, 2023, totaled HKD 111,761,000, a decrease of 34.5% from HKD 170,559,000 as of December 31, 2022[101] - The aging analysis of trade receivables shows that HKD 68,595,000 was overdue for more than one year as of June 30, 2023, compared to HKD 94,464,000 as of December 31, 2022, reflecting an improvement in overdue receivables[102] - Contract assets decreased to HKD 27,463,000 as of June 30, 2023, from HKD 31,079,000 as of December 31, 2022, indicating a reduction in unbilled revenue[104] - The total accrued liabilities and other payables amounted to HKD 10,429,000, a decrease of 44.6% from HKD 18,907,000 as of December 31, 2022[114] Dividends and Shareholder Information - The company did not recommend the declaration of an interim dividend for the six months ended June 30, 2023, consistent with the previous year[4] - The board has resolved not to declare an interim dividend for the six months ended June 30, 2023, and 2022[38] - Major shareholders include Fu Zai Enterprises Holdings Limited, holding 603,000,000 shares, representing 60.3% of the equity[55] - The company has maintained a minimum of 25% of its issued share capital held by the public as of June 30, 2023[61] Governance and Compliance - The company has adopted the corporate governance code as per the listing rules, with the chairman and CEO roles held by the same individual, which deviates from the code but is deemed appropriate by the board[46] - The audit committee, established on March 15, 2021, consists of three independent non-executive directors and is responsible for overseeing financial reporting and internal controls[63] - The interim financial results have not been audited but have been reviewed by the audit committee, ensuring compliance with applicable accounting standards[64] Future Outlook and Strategic Changes - The company aims to allocate additional resources to comprehensive project cost assessments to mitigate financial impacts from cost overruns in the uncertain economic environment of Hong Kong[10] - The group has made further changes to the use of proceeds for Plan 1 and Plan 2 as of June 30, 2023, with no further changes to the proposed use of net proceeds disclosed on June 6, 2023[44] - There were no significant contract amounts awarded for new projects under Plan 3, causing delays in its actual use[44] - The group expects to recover approximately HKD 20,801,000 of contract assets in one year, down from HKD 26,749,000 as of December 31, 2022[106] Employee Information - As of June 30, 2023, the group had 24 employees, down from 34 employees as of December 31, 2022[37] Miscellaneous - The company expressed gratitude to management, employees, shareholders, and partners for their support during the period[66] - There are no significant events related to the company's business or financial performance known to the directors after June 30, 2023[123]
盈汇企业控股(02195) - 2023 - 中期业绩
2023-08-25 08:44
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佈的內容 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 對本公佈的全部或任何部分內容所產生或因依賴該等內容而引致的任何 損失承擔任何責任。 Unity Enterprise Holdings Limited 盈 滙 企 業 控 股 有 限 公 司 (於開曼群島註冊成立的有限公司) (股份代號:2195) 截 至2023年6月30日 止 六 個 月 的 中 期 業 績 公 佈 中期業績摘要 • 截至2023年6月30日止六個月,收益減少約41.1%至約40.6百萬港元(截 至2022年6月30日止六個月:約68.9百萬港元)。 • 截至2023年6月30日止六個月,毛利減少約18.4百萬港元至毛損約5.6 百萬港元(截至2022年6月30日止六個月:毛利約12.9百萬港元)。 • 截 至2023年6月30日 止 六 個 月,本 集 團 錄 得 本 公 司 權 益 持 有 人 應 佔 虧損約6.5百萬港元(截至2022年6月30日止六個月:溢利約6.8百萬港元)。 • 截至2023年6月30日止六個月,每股基本虧損約為0.65港仙(截至202 ...
盈汇企业控股(02195) - 2022 - 年度财报
2023-04-25 09:06
Financial Performance - The company reported total revenue of approximately HKD 106.2 million for the year ended December 31, 2022, a decrease of about 57.5% compared to HKD 249.6 million for the year ended December 31, 2021[7]. - The net loss for the year ended December 31, 2022, was approximately HKD 7.4 million, a decline of about 128.2% from a profit of HKD 26.3 million for the previous year[7]. - Gross profit was approximately HKD 9.8 million for the year ended December 31, 2022, down about 78.1% from HKD 44.8 million in 2021, with a gross margin of approximately 9.3% compared to 18.0% in 2021[13]. - Other income and gains for the year ended December 31, 2022, amounted to approximately HKD 4.2 million, primarily from tax compensation guarantees of HKD 3.3 million and government subsidies of HKD 0.5 million[14]. - Administrative expenses increased from approximately HKD 9.8 million for the year ended December 31, 2021, to approximately HKD 12.0 million for the year ended December 31, 2022, representing an increase of about 21.9%[15]. - Financing costs decreased from approximately HKD 0.2 million for the year ended December 31, 2021, to approximately HKD 14,000 for the year ended December 31, 2022, due to the repayment of all bank borrowings[16]. - Income tax expenses decreased from approximately HKD 5.3 million for the year ended December 31, 2021, to approximately HKD 4.5 million for the year ended December 31, 2022, a reduction of about 15.8%[19]. - The total comprehensive loss for the year ended December 31, 2022, was approximately HKD 7.4 million, a decrease of about 128.2% compared to a total comprehensive income of approximately HKD 26.3 million for the year ended December 31, 2021[20]. Project and Operational Status - The company had six ongoing projects as of December 31, 2022, with a total original contract value of approximately HKD 519.2 million, down from 15 projects valued at approximately HKD 636.2 million a year earlier[7]. - The company faced increased competition, resulting in fewer new project awards and a slowdown in project progress due to the COVID-19 pandemic[8]. - The outlook for the construction industry remains challenging, with the company adopting a cautious strategy to alleviate revenue pressure and manage operating costs[10]. - The company aims to enhance construction quality and maintain site safety while implementing safety management systems on existing construction sites[10]. Use of Proceeds and Capital Management - The company plans to use the net proceeds of approximately HKD 47.9 million from its listing to meet working capital needs instead of launching a metal scaffolding system[9]. - The total amount raised from the listing was HKD 140 million, with a net amount of approximately HKD 90.7 million after deducting underwriting commissions and related expenses[39]. - The planned use of the net proceeds includes upgrading construction equipment and providing metal scaffolding systems, with an original allocation of HKD 57.5 million, of which HKD 9.6 million is still unutilized[39]. - For operational capital needs and to cover certain preliminary costs, the allocation was revised from HKD 25.7 million to HKD 73.6 million, which has been fully utilized by December 31, 2022[39]. - The funds allocated for strengthening manpower (Plan 3) amount to HKD 7.5 million, with HKD 3.0 million utilized and HKD 4.5 million remaining, expected to be fully utilized by December 31, 2023[39]. - As of December 31, 2022, the group maintained a solid liquidity position with net current assets of approximately HKD 154.4 million[21]. - The group had no outstanding bank borrowings as of December 31, 2022, and December 31, 2021[22]. - The capital debt ratio was zero as of December 31, 2022, and December 31, 2021, indicating no bank borrowings[23]. - Capital expenditures for the year ended December 31, 2022, amounted to approximately HKD 0.4 million, primarily for office equipment purchases[29]. Corporate Governance and Management - The board consists of one executive director and three independent non-executive directors, ensuring a high level of independence[65]. - The company has adopted the corporate governance code as per the listing rules, although the roles of chairman and CEO are held by the same individual, which is considered appropriate for the company's best interests[61]. - The company is committed to maintaining high standards of corporate governance and business practices[61]. - The board is responsible for formulating business policies and strategies to enhance shareholder value[67]. - The company has confirmed compliance with the standard code for securities trading by all directors for the year ending December 31, 2022[63]. - The company focuses on providing quality services and maintaining ethical and responsible business practices[62]. - The executive management is empowered by the board to handle daily operations and management matters[67]. - The board regularly meets to discuss operational matters and ensure adequate checks and balances to protect the interests of the company and its shareholders[61]. - The company held six board meetings in the year ended December 31, 2022, with all executive directors attending all meetings[68]. - The board consists of four directors, including one female director, representing approximately 24% female representation[79]. - As of December 31, 2022, 35% of the company's 34 employees, including senior management, are female, indicating gender diversity within the workforce[79]. - The audit committee, established on March 15, 2021, consists of three independent non-executive directors and is responsible for overseeing financial reporting and risk management[81]. - The company has adopted a board diversity policy, considering factors such as gender, age, and professional experience to enhance board performance[76]. - Independent non-executive directors are required to confirm their independence annually, ensuring compliance with listing rules[72]. - The company has a mechanism in place to ensure board effectiveness, including the requirement for at least three independent non-executive directors[72]. - The board reviews the implementation and effectiveness of the diversity policy annually, contributing to corporate strategy and business development[79]. - The company has established three board committees: audit committee, remuneration committee, and nomination committee, to assist in effective governance[80]. - All independent non-executive directors have confirmed their independence according to the listing rules, ensuring good corporate governance[71]. - The audit committee held four meetings during the year ended December 31, 2022, with full attendance from members[83]. - The remuneration committee reviewed and approved management's compensation proposals and held one meeting during the year, with full attendance from members[85]. - The nomination committee held one meeting during the year ended December 31, 2022, with full attendance from members[89]. - The external auditor's fees for the year ended December 31, 2022, amounted to HKD 520,000 for audit services[94]. - The company has adopted a nomination policy to ensure diversity in the board composition and to evaluate candidates based on various criteria[90]. - The board is responsible for reviewing and monitoring compliance with legal and regulatory requirements[92]. - The company has no significant uncertainties that may cast doubt on its ability to continue as a going concern[93]. - The audit committee reviewed the financial statements and risk management systems for the year ended December 31, 2022[19]. - The remuneration committee's responsibilities include making recommendations on the compensation of individual directors and senior management[86]. - The company has appointed a new compliance advisor, Lingzhan Financial Group, effective from February 3, 2023, following the termination of the previous agreement with Junfu due to a lack of consensus on fee adjustments[97]. - The board is committed to maintaining effective internal control and risk management systems to protect shareholder interests and group assets, with annual reviews conducted to ensure their adequacy and effectiveness[98]. Environmental, Social, and Governance (ESG) Initiatives - The company has identified 15 significant environmental, social, and governance (ESG) issues through internal surveys and stakeholder assessments, which will guide its ESG reporting and strategy[190]. - The company maintains an environmental management system in accordance with ISO 14001:2015 to minimize negative environmental impacts and ensure compliance with applicable environmental laws[195]. - During the reporting period, the company complied with all relevant environmental laws and regulations, with no confirmed non-compliance incidents or complaints reported[196]. - The board of directors is responsible for overseeing the company's ESG-related risks and opportunities, establishing strategies and goals, and reviewing performance annually[185]. - The company has established an ESG working group composed of management members to support the board in implementing ESG strategies and objectives[185]. - Stakeholder engagement is prioritized, with communication methods including company websites, public disclosures, and shareholder meetings to address stakeholder concerns[189]. - The company emphasizes the importance of sustainability in its daily operations and has integrated this concept into its business practices[185]. - The company conducts annual risk assessments to evaluate potential ESG issues and enhance resilience and adaptability[185]. - The company is committed to community development and environmental protection, engaging in community activities and issuing press releases to communicate its efforts[189]. - The company tracks and reviews sustainability priorities through stakeholder engagement to ensure alignment with long-term sustainability goals[186]. - Greenhouse gas emissions from vehicle combustion (Scope 1) decreased from 5 tons in 2021 to 2 tons in 2022[197]. - Total greenhouse gas emissions increased from 13 tons in 2021 to 18 tons in 2022, reflecting a rise in emissions density from 0.000052 tons per thousand HKD revenue to 0.000170 tons[197]. - Nitrogen oxides (NOx) emissions from vehicles increased from 1.85 kg in 2021 to 1.92 kg in 2022[197]. - Sulfur oxides (SOx) emissions rose from 0.029 kg in 2021 to 0.031 kg in 2022[197]. - Particulate matter (PM) emissions increased from 0.14 kg in 2021 to 0.16 kg in 2022[197]. - The company aims to reduce total greenhouse gas emissions density to between 90% and 120% of the baseline level by the next reporting period[199]. - Electricity consumption (Scope 2) emissions increased significantly from 7 tons in 2021 to 15 tons in 2022[197]. - Paper processing (Scope 3) emissions remained stable at 1 ton for both 2021 and 2022[197]. - The company is committed to sustainable development principles and has outlined additional mitigation measures in its reports[199]. - Waste management practices are regularly conducted by the Environmental Protection Department (EPD) to ensure proper disposal of construction and demolition waste[200].
盈汇企业控股(02195) - 2022 - 年度业绩
2023-03-29 08:57
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佈的內容 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 對本公佈的全部或任何部分內容所產生或因依賴該等內容而引致的任何 損失承擔任何責任。 Unity Enterprise Holdings Limited 盈 滙 企 業 控 股 有 限 公 司 (於開曼群島註冊成立的有限公司) (股份代號:2195) 截 至2022年12月31日 止 年 度 的 全 年 業 績 公 佈 全年業績摘要 • 截至2022年12月31日止年度,收益減少約57.5%至約106.2百萬港元(2021 年:約249.6百萬港元)。 • 截至2022年12月31日止年度,毛利減少約78.1%至約9.8百萬港元(2021 年:約44.8百萬港元)。 • 截至2022年12月31日止年度,本集團錄得本公司擁有人應佔虧損約7.4 百萬港元(2021年:溢利約26.3百萬港元)。 • 截至2022年12月31日止年度,每股基本虧損約為0.74港仙(2021年:每 股基本盈利約2.80港仙)。 • 截 至2022年12月31日 止 年 度,概 無 派 付 或 宣 派 股 息。 ...
盈汇企业控股(02195) - 2022 - 中期财报
2022-09-19 08:49
Financial Performance - Revenue for the six months ended June 30, 2022, decreased by approximately 29.5% to about HKD 68.9 million, compared to HKD 97.7 million for the same period in 2021[13] - Gross profit for the same period decreased by approximately 25.7% to about HKD 12.9 million, down from HKD 17.3 million in 2021[13] - The group recorded a profit attributable to equity holders of approximately HKD 6.8 million, compared to HKD 10.6 million for the same period in 2021[13] - Total comprehensive income for the six months ended June 30, 2022, was approximately HKD 6.8 million, a decrease of about 36.1% from approximately HKD 10.6 million for the same period in 2021[36] - The net profit attributable to equity holders of the company was HKD 6,765,000, a decline of 36.5% from HKD 10,581,000 in the previous year[105] - The company reported a total comprehensive income of HKD 6,765,000 for the first half of 2022, compared to HKD 10,581,000 in the same period of 2021, reflecting a decrease of approximately 36.5%[111] Project and Market Focus - As of June 30, 2022, the group had 9 projects on hand, down from 15 projects as of December 31, 2021, with a total original contract value of approximately HKD 533.7 million[22] - The group plans to focus on bidding for high-potential and high-profitability RMAA projects to increase market share in the RMAA industry[23] - The disruptions in logistics and supply of construction materials and labor due to the pandemic have affected project progress and tendering processes[27] Cash Flow and Liquidity - The cash flow cycle has slowed, and operational funding pressure has increased due to the impact of the COVID-19 pandemic[22] - As of June 30, 2022, the group maintained a strong liquidity position with net current assets of approximately HKD 166.8 million, compared to HKD 160.3 million as of December 31, 2021[40] - The group had no outstanding bank borrowings as of June 30, 2022, and maintained a zero debt-to-equity ratio[41][42] - The net cash used in operating activities for the six months ended June 30, 2022, was HKD (7,440,000), an improvement from HKD (38,570,000) in the same period of 2021[117] - Cash and cash equivalents at the end of the period increased to HKD 25,881,000 from HKD 25,590,000, showing a slight increase of 1.1%[117] Expenses and Costs - Administrative expenses increased from approximately HKD 4.1 million for the six months ended June 30, 2021, to approximately HKD 5.2 million for the same period in 2022, representing an increase of about 25.9%[33] - Financing costs decreased from approximately HKD 0.2 million for the six months ended June 30, 2021, to approximately HKD 7,000 for the same period in 2022, due to reduced bank loan interest[34] - Employee benefits expenses increased to HKD 5,196,000, up 28.0% from HKD 4,060,000 in 2021[170] Shareholder and Dividend Information - The board has decided not to declare an interim dividend for the six months ended June 30, 2022, compared to HKD 288,000 for the same period in 2021[13] - The company did not declare an interim dividend for the six months ended June 30, 2022, after declaring HKD 28,800,000 in interim dividends for the previous period[180] - As of June 30, 2022, major shareholder Yang Yongshen holds 605 million shares, representing 60.50% of the company's issued share capital[76] Use of Proceeds - The group has adjusted the use of net proceeds from the share placement of approximately HKD 47.9 million to meet operational funding needs instead of launching a metal scaffolding system[22] - The planned use of proceeds includes upgrading equipment (HKD 57.5 million), meeting working capital needs (HKD 25.7 million), and strengthening manpower (HKD 7.5 million)[59] - As of June 30, 2022, HKD 53.8 million of the net proceeds had been utilized, leaving HKD 36.9 million unutilized[59] - The expected timeline for utilizing the unutilized proceeds for equipment upgrades and manpower strengthening is by December 2023[59] Compliance and Governance - The company has complied with the corporate governance code applicable as of June 30, 2022[69] - The audit committee reviewed the interim financial results and confirmed compliance with applicable accounting standards and regulations[99] - The company’s financial statements were prepared in accordance with the Hong Kong Financial Reporting Standards, ensuring compliance with local regulations[123] Trade Receivables and Assets - The total trade receivables as of June 30, 2022, amounted to HKD 169,549,000, a slight increase from HKD 165,517,000 as of December 31, 2021[186] - As of June 30, 2022, the overdue trade receivables included approximately HKD 138,367,000 that were overdue for 90 days or more, compared to HKD 71,663,000 as of December 31, 2021, indicating a significant increase in overdue amounts[191] - Contract assets as of June 30, 2022, amounted to HKD 33,688,000, an increase from HKD 30,719,000 as of December 31, 2021[192] Other Income and Gains - Other income and gains for the six months ended June 30, 2022, were approximately HKD 0.5 million, down from HKD 0.8 million in the same period in 2021, primarily from government subsidies and bank interest[29] - The company has received government subsidies amounting to HKD 328,000 related to the Employment Support Scheme[164]
盈汇企业控股(02195) - 2021 - 年度财报
2022-04-21 08:55
Financial Performance - The company's revenue for the year ended December 31, 2021, decreased by approximately 20.6% to about HKD 249.6 million, down from HKD 314.2 million in 2020[11]. - The group's revenue for the year ended December 31, 2021, was approximately HKD 249.6 million, a decrease of about 20.6% from HKD 314.2 million in 2020[20]. - Gross profit for the year ended December 31, 2021, was approximately HKD 44.8 million, down about 23.6% from HKD 58.7 million in 2020, with a gross margin of approximately 18.0%[22]. - Net profit for the year ended December 31, 2021, was approximately HKD 26.3 million, a decrease of about 30.4% from HKD 37.7 million in 2020, with a net profit margin of approximately 10.5%[29]. - Service costs decreased from approximately HKD 255.6 million in 2020 to about HKD 204.8 million in 2021, representing a reduction of approximately HKD 50.8 million or 19.9%[21]. - Administrative expenses increased from approximately HKD 6.5 million in 2020 to about HKD 9.8 million in 2021, an increase of approximately HKD 3.3 million or 50.9%[24]. Project and Market Outlook - The company faced project delays due to a fatal accident at the Happy Valley site, which was expected to generate approximately HKD 29.1 million in revenue[11]. - New contracts awarded during the year amounted to approximately HKD 122.5 million, partially offsetting the negative impacts from project delays[11]. - As of December 31, 2021, the company had 15 projects on hand with a total original contract value of approximately HKD 636.2 million, compared to HKD 610.4 million in 2020[15]. - The company anticipates an increase in demand for RMAA projects due to the growing number of buildings over 30 years old in Hong Kong[16]. - The year 2022 is expected to be challenging due to the impact of the COVID-19 pandemic, including labor shortages and supply chain disruptions[17]. - The company is committed to maintaining high-quality RMAA projects as a key to its success[16]. - The company aims to improve its competitiveness in the RMAA industry through wise use of existing resources[16]. Capital and Liquidity - As of December 31, 2021, the group maintained a strong liquidity position with net current assets of approximately HKD 160.3 million[30]. - The group had no outstanding bank borrowings as of December 31, 2021, compared to approximately HKD 11.3 million on December 31, 2020[31]. - The capital adequacy ratio was zero as of December 31, 2021, down from approximately 20.9% on December 31, 2020[32]. - Capital expenditures for the year ended December 31, 2021, amounted to approximately HKD 1.8 million, primarily for vehicle purchases and lease renewals[38]. Shareholder and Dividend Information - The company declared an interim dividend of HKD 288,000 per ordinary share, totaling HKD 28.8 million, compared to HKD 15 million in the previous year[55]. - The board recommended not to declare a final dividend for the year ended December 31, 2021[56]. - The company has adopted a dividend policy aimed at maintaining sufficient cash reserves to meet operational needs and future growth[182]. - The company has no predetermined dividend payout ratio, and the board may decide on dividends based on various factors including operational performance and financial condition[183]. Corporate Governance - The company has maintained compliance with the corporate governance code since its listing date on March 31, 2021[81]. - The board consists of six members, including two executive directors, one non-executive director, and three independent non-executive directors[84]. - The company has established a clear division of responsibilities between the chairman and the CEO to ensure a balance of power[87]. - The company has committed to providing ongoing professional development for directors to enhance their knowledge and skills[113]. - The independent non-executive directors have been confirmed as independent according to the listing rules[102]. - The company has a structured approach to board member appointments, with a rotation policy ensuring that one-third of directors retire and seek re-election at each annual general meeting[103]. - The company established an Audit Committee on March 15, 2021, which is composed of three independent non-executive directors and one non-executive director, ensuring compliance with listing rules[120]. - The Audit Committee's responsibilities include reviewing financial statements and overseeing the company's risk management and internal control systems[121]. Risk Management and Compliance - The company faces significant risks and uncertainties as detailed in the management discussion and analysis section of the annual report[190]. - There were no significant or systemic non-compliance issues with relevant laws and regulations as of December 31, 2021[176]. - The audit committee has reviewed and discussed the effectiveness of the internal control and risk management systems, concluding that they are adequate and effective[148]. - The board is responsible for maintaining sufficient internal controls and risk management systems to protect shareholder interests and group assets[147]. Social Responsibility - The group made charitable donations of HKD 145,000 in the year, compared to HKD 33,000 in 2020[173]. - The company emphasizes environmental sustainability and integrates this concept into its daily operations[179].
盈汇企业控股(02195) - 2021 - 中期财报
2021-09-14 08:35
Financial Performance - Revenue for the six months ended June 30, 2021, increased by approximately 11.9% to about HKD 97.7 million, compared to HKD 87.3 million for the same period in 2020[7]. - Gross profit for the same period rose by approximately 8.0% to about HKD 17.3 million, with a gross margin of approximately 17.7%, down from 18.4% in the previous year[17]. - Profit attributable to equity holders for the six months ended June 30, 2021, was approximately HKD 10.6 million, compared to HKD 9.4 million for the same period in 2020[7]. - Profit and total comprehensive income increased by approximately 12.9% from HKD 9.4 million for the six months ended June 30, 2020, to approximately HKD 10.6 million for the same period in 2021[27]. - The company reported a total comprehensive income of HKD 9,370,000 for the period, compared to HKD 25,748,000 for the same period in 2020, reflecting a decrease in profitability[101]. - The company's basic and diluted earnings per share for the period were HKD 1.21, slightly down from HKD 1.25 in the previous year[91]. - The company reported a pre-tax profit before income tax of HKD 97,694,000 for the six months ended June 30, 2021, compared to HKD 87,308,000 in the same period of 2020[139]. Dividends - The company declared an interim dividend of HKD 28.8 million, amounting to HKD 0.288 per share, for the period[7]. - The company declared an interim dividend of HKD 28.8 million for the period from January 1, 2021, to March 29, 2021, compared to HKD 15.0 million for the same period in 2020[53]. - No additional interim dividends were declared for the six months ending June 30, 2021, beyond the aforementioned amount[53]. Assets and Liabilities - Current assets net value as of June 30, 2021, was approximately HKD 144.6 million, up from HKD 56.2 million as of December 31, 2020[28]. - As of June 30, 2021, total assets amounted to HKD 232,251,000, a decrease from HKD 239,461,000 as of December 31, 2020[95]. - The company's total liabilities decreased significantly from HKD 183,254,000 at the end of 2020 to HKD 87,686,000 as of June 30, 2021, indicating a reduction of approximately 52.1%[95]. - The equity attributable to the company's equity holders increased to HKD 147,001,000 as of June 30, 2021, compared to HKD 54,115,000 at the end of 2020, representing a growth of approximately 171.5%[97]. - Trade receivables as of June 30, 2021, amounted to HKD 112,734,000, a decrease from HKD 152,073,000 as of December 31, 2020[152]. - Trade payables decreased from HKD 108,859,000 as of December 31, 2020, to HKD 55,215,000 as of June 30, 2021, representing a reduction of approximately 49.3%[20]. Cash Flow and Financing - The net cash used in operating activities for the six months ended June 30, 2021, was HKD (38,570,000), a decrease from HKD 12,616,000 in the previous year[107]. - The company raised HKD 140,000,000 from the issuance of new shares during the financing activities, significantly contributing to a net cash inflow of HKD 99,480,000 from financing activities[107]. - The cash and cash equivalents at the end of the period were HKD 25,590,000, up from HKD 5,015,000 at the end of the same period in 2020, indicating a substantial increase in liquidity[107]. - The company's operating cash flow remains negative, indicating challenges in generating cash from core operations[107]. Business Operations - The company’s main business involves investment holding and providing repair, maintenance, alteration, and addition (RMAA) services in Hong Kong[111]. - The company aims to strengthen its market position and increase market share in the RMAA sector, driven by mandatory inspection regulations and the revitalization of old buildings[15]. - The company plans to continue expanding its market presence and exploring new business opportunities in the RMAA sector[111]. - The group anticipates that the impact of the COVID-19 pandemic on ongoing project progress will not be severe, based on discussions with major clients[15]. - The company is engaged in long-term contracts for RMAA engineering services, with all contracts being fixed-price agreements[130]. Expenses and Costs - Administrative expenses increased from approximately HKD 3.4 million for the six months ended June 30, 2020, to approximately HKD 4.1 million for the same period in 2021, representing a 20.3% increase[23]. - Financing costs rose to approximately HKD 0.2 million for the six months ended June 30, 2021, compared to HKD 47,000 for the same period in 2020, an increase of HKD 145,000[24]. - Employee benefits expenses rose to HKD 4,060,000, up 24.4% from HKD 3,263,000, reflecting increased salaries and benefits[139]. Shareholder Information - The major shareholder, 富泽企业, holds a 75% stake in the company, with the beneficial owner being Mr. 杨, who also holds a 75% interest[72]. - The company has adhered to the corporate governance code as per the listing rules since its listing date on March 31, 2021[57]. - The company has not entered into any related party transactions that require disclosure under the Listing Rules during the reporting period[80]. Future Plans and Investments - The planned use of net proceeds includes upgrading construction equipment and enhancing safety measures, with an allocation of HKD 57.5 million, expected to be utilized by December 2022[50]. - The company aims to further strengthen its workforce with an allocation of HKD 7.5 million, of which HKD 0.2 million has been utilized[50]. - The group plans to focus on promoting the use of metal scaffolding systems to enhance safety and productivity in construction[15].
盈汇企业控股(02195) - 2020 - 年度财报
2021-04-29 08:54
Financial Performance - Revenue decreased from approximately HKD 334.2 million in FY2019 to approximately HKD 314.2 million in FY2020, a decline of about HKD 20.0 million or 6.0%[12] - Gross profit fell from approximately HKD 62.9 million in FY2019 to approximately HKD 58.7 million in FY2020, representing a decrease of about HKD 4.2 million or 6.7%[12] - Total comprehensive income increased from approximately HKD 29.6 million in FY2019 to approximately HKD 37.7 million in FY2020, an increase of about HKD 8.1 million or 27.3%[12] - Revenue decreased from approximately HKD 334.2 million in FY2019 to about HKD 314.2 million in FY2020, representing a decline of approximately HKD 20.0 million or 6.0%[18] - Service costs reduced from approximately HKD 271.3 million in FY2019 to about HKD 255.6 million in FY2020, a decrease of approximately HKD 15.8 million or 5.8%[22] - Gross profit decreased from approximately HKD 62.9 million in FY2019 to about HKD 58.7 million in FY2020, a decline of approximately HKD 4.2 million or 6.7%[23] - Other income increased from zero in FY2019 to approximately HKD 1.2 million in FY2020, mainly due to government subsidies received in response to the COVID-19 pandemic[25] - Administrative expenses decreased from approximately HKD 9.0 million in FY2019 to about HKD 6.5 million in FY2020, a reduction of approximately HKD 2.5 million or 27.9%[26] - Net profit and total comprehensive income increased from approximately HKD 29.6 million in FY2019 to about HKD 37.7 million in FY2020, an increase of approximately HKD 8.1 million or 27.3%[29] Project and Market Position - As of December 31, 2020, the company had 15 ongoing projects with a total original contract value of approximately HKD 610.4 million, down from approximately HKD 712.5 million in 2019[13] - The company aims to strengthen its market position and increase market share by upgrading construction equipment and enhancing safety measures[12] - The company plans to further improve its financial position to secure larger RMAA projects[12] - The company is focused on investing in manpower and equipment to enhance bidding capabilities and undertake higher-value projects[11] Risk Management and Governance - The company expresses a cautious outlook on future challenges but remains confident in its strategies for sustainable business development[8] - The company acknowledges the support from shareholders, clients, and business partners during its listing process and ongoing operations[8] - The company has not utilized any of the proceeds from the share offering as of the report date, and no significant changes in the proposed use of proceeds are anticipated[53] - The company’s management is focused on ensuring timely and effective risk management related to financial instruments[47] - The company is committed to maintaining effective internal controls and risk management systems to protect shareholder interests[132] Corporate Governance - The company appointed three independent non-executive directors on March 15, 2021, enhancing its governance structure[65][68][69]. - The board consists of six members, including two executive directors, one non-executive director, and three independent non-executive directors[85] - The company has maintained compliance with the corporate governance code since its listing date on March 31, 2021[82] - The company emphasizes the importance of board diversity as a key element for sustainable development and strategic goals[99] - The company has established a board diversity policy to enhance performance quality[98] Shareholder Information - The total amount of interim dividends declared was HKD 39 million, with HKD 24 million for the period up to December 31, 2019, and HKD 15 million for the 2020 fiscal year[54] - The board does not recommend the payment of a final dividend for the 2020 fiscal year[56] - The company has adopted a dividend policy that requires maintaining sufficient cash reserves for operational needs and future growth[164] - Shareholders holding at least 10% of the paid-up capital can request the board to convene a special general meeting[137] Management and Employee Information - The company had no significant investments, acquisitions, or disposals during FY2020, except for a restructuring[45] - Employee benefits expenses remained stable at approximately HKD 7.3 million for both the 2019 and 2020 fiscal years[48] - As of December 31, 2020, the company had 25 employees, consistent with the previous year[48] - The senior management team includes individuals with over 15 years of experience in the construction industry, indicating strong operational expertise[73][75][78]. Stock Options and Incentives - The stock option plan allows for the issuance of up to 100,000,000 shares, representing 10% of the total shares issued as of the report date[196] - The stock option plan aims to incentivize participants to enhance their performance and efficiency, as well as to attract and retain key contributors to the group's long-term development and profitability[194] - Participants in the stock option plan include full-time and part-time employees, consultants, directors, major shareholders, and business partners[195] - Any grant of stock options exceeding 1% of the total issued shares must be approved by shareholders at a general meeting[199] Charitable Contributions - The company made charitable donations totaling HKD 30,000 during the year, compared to HKD 33,000 in 2019[156]