集团一直积极寻求机会以实现业务组合多元化并拓宽收入来源，尤其是在中国市场，乃因该市场具有长 期结构性趋势，同时政府推行扶持政策，因而持续为各行各业带来具吸引力的前景。成立中国附属公司 属集团策略的一部分，有利于集团为自身部署日后参与中国工业园区管理行业（尤其以江西省赣州市场 为重心）的机会。 此外，董事会欣然宣布其正与若干独立私人投资者进行磋商建议债券认购事项。据此，认购人拟认购， 而金瓴资本拟发行年期一年且息票率为8%的债券，本金总额最高为4000万港元。 格隆汇6月10日丨丰城控股(02295.HK)发布公告，中国附属公司为一间于2025年6月9日在中国江西省赣 州市成立的有限公司，其股权由丰晟全资拥有。丰晟为一间于香港注册成立的有限责任控股公司，其全 部已发行股本由金瓴资本拥有。金瓴资本为一间于香港注册成立的控股公司，并为公司的直接全资附属 公司。 中国附属公司的许可经营范围主要包括：企业总部管理、工业园区管理服务、商业综合体管理服务、市 场管理服务、酒店管理、非住宅房地产租赁、住房租赁、停车场服务、物业管理、信息咨询服务（不包 括许可信息咨询服务）、以自有资金进行投资的资产管理服务、资产评估（不包括依 ...

豐城控股有限公司 Maxicity Holdings Limited （於開曼群島註冊成立的成員有限公司） 目錄 | 公司資料 | 2 | | --- | --- | | 主席報告 | 4 | | 管理層討論及分析 | 6 | | 董事及高級管理層履歷詳情 | 15 | | 企業管治報告 | 20 | | 環境、社會及管治報告 | 38 | | 董事會報告 | 63 | | 獨立核數師報告 | 79 | | 綜合損益及其他全面收益表 | 84 | | 綜合財務狀況表 | 85 | | 綜合權益變動表 | 87 | | 綜合現金流量表 | 88 | | 綜合財務報表附註 | 89 | | 財務概要 | 142 | 1 豐城控股有限公司 公司資料 董事會 執行董事 謝城基先生 （主席） 何家淇先生 （行政總裁） 獨立非執行董事 趙少玲女士 鄺志成先生 凌肇曾先生 曹炳昌先生 審核委員會 曹炳昌先生 （主席） 趙少玲女士 鄺志成先生 凌肇曾先生 薪酬委員會 凌肇曾先生 （主席） 謝城基先生 趙少玲女士 鄺志成先生 提名委員會 謝城基先生 （主席） 趙少玲女士 鄺志成先生 凌肇曾先生 公司秘書 林教宏先生 (HKIC ...

Revenue and Profitability - The group's revenue increased from approximately HKD 168.2 million for the year ended December 31, 2023, to approximately HKD 205.8 million for the year ended December 31, 2024, representing a growth of about HKD 37.6 million or 22.3%[3] - The total profit and comprehensive income for the year was approximately HKD 8.7 million, a decrease of about HKD 5.2 million or 37.3% compared to HKD 13.9 million for the year ended December 31, 2023[3] - The group's gross profit for the year was HKD 17.7 million, down from HKD 20.7 million in the previous year[4] - Public project revenue contributed HKD 193,598,000, up from HKD 146,409,000, reflecting a growth of 32.2% year-over-year[23] - Private project revenue decreased to HKD 12,182,000 from HKD 21,793,000, representing a decline of 44.0%[23] - Basic earnings per share for the year ended December 31, 2024, were HKD 8,745, down from HKD 13,942 in 2023[38] Dividends - The board of directors did not recommend the declaration and payment of a final dividend for the year ended December 31, 2024, compared to no dividend declared for the year ended December 31, 2023[3] - A special dividend of HKD 0.175 per ordinary share was distributed on February 16, 2024, totaling HKD 70.0 million[3] - The company declared a special dividend of HKD 70,000,000 for the year ending December 31, 2024, compared to no special dividend in 2023[34] - The company has not provided a final dividend recommendation for the year ending December 31, 2024, indicating a potential shift in capital allocation strategy[35] Financial Position - The group's total assets decreased from HKD 160.2 million in 2023 to HKD 103.7 million in 2024, reflecting a significant reduction in cash and bank balances[6] - The net asset value of the group decreased from HKD 143.1 million in 2023 to HKD 81.8 million in 2024[6] - Current liabilities increased from HKD 23.0 million in 2023 to HKD 28.7 million in 2024, indicating a rise in trade and other payables[6] - The current ratio decreased from approximately 7.0 times as of December 31, 2023, to approximately 3.6 times as of December 31, 2024, with net current assets of approximately HKD 74.9 million, down from approximately HKD 137.2 million[88] - The asset-liability ratio increased from approximately 0.5% as of December 31, 2023, to approximately 1.4% as of December 31, 2024, due to a decrease in equity attributable to shareholders[86] Financial Reporting Standards - The adoption of revised Hong Kong Financial Reporting Standards effective from January 1, 2024, is not expected to have a significant impact on the group's financial performance[14] - The group is currently evaluating the impact of the new standards on its consolidated financial statements and performance indicators[18] - The group anticipates that other newly issued and revised Hong Kong Financial Reporting Standards will not have a significant impact on its consolidated financial statements[21] - The group’s financial reporting will include new classifications and disclosures as per the revised standards, enhancing clarity in financial performance reporting[19] - The group’s management has defined performance indicators that will be disclosed in the financial statements, improving transparency[19] Costs and Expenses - Service costs rose by approximately HKD 40.5 million or 27.5%, from about HKD 147.5 million to approximately HKD 188.1 million for the same periods[72] - Gross profit decreased by approximately HKD 3.0 million or 14.4%, from about HKD 20.7 million to approximately HKD 17.7 million, with gross margin dropping from 12.3% to 8.6%[73] - Subcontracting costs increased by approximately 63.0% compared to the previous year, impacting overall profit margins[74] - Employee benefit expenses for 2024 are HKD 60,872,000, slightly increasing from HKD 60,181,000 in 2023, reflecting a 1.15% growth[32] - Financial costs increased by approximately HKD 19,000 or 22.9%, from about HKD 83,000 to approximately HKD 102,000 due to higher interest expenses on long-term service obligations[77] Cash Flow and Investments - As of December 31, 2024, the group's cash and bank balances were approximately HKD 63.4 million, a decrease of about HKD 51.2 million or 44.7% from approximately HKD 114.6 million as of December 31, 2023, primarily due to dividend payments of approximately HKD 70.0 million during the year[83] - The group invested approximately HKD 5.8 million in the acquisition of property, plant, and equipment for the year ended December 31, 2024[91] - The group had no significant capital commitments or contingent liabilities as of December 31, 2024[81] Long Service Payment Obligations - The present value of the unallocated long service payment liability as of December 31, 2024, is estimated at HKD 293,000, with a current service cost of HKD 266,000 and interest cost of HKD 27,000[57] - The long service payment liability has a weighted average term of 18 years, indicating a long-term financial commitment[59] - The discount rate used for calculating the long service payment liability increased from 3.8% in 2023 to 4.1% in 2024, while the salary growth rate rose from 2.0% to 3.1%[57] - The maximum benefit payment under the long service payment scheme remains capped at HKD 390,000 per employee[54] - The Hong Kong government has announced the repeal of the offsetting mechanism for long service payments, effective May 1, 2025, which will impact the company's long service payment obligations[52] Operational Highlights - The group continues to focus on slope engineering in Hong Kong, with no new product or technology developments reported in the current financial year[9] - The group is involved in various slope engineering projects, including soil nail drilling and installation, construction of retaining walls, and installation of drainage systems[65] - The group secured 20 contracts with a total contract value of approximately HKD 806.1 million, of which 3 contracts worth about HKD 47.1 million have been completed as of December 31, 2024[66] Compliance and Governance - The company has confirmed that as of December 31, 2024, there are no direct or indirect competitive businesses or interests held by directors, major shareholders, or their associates[98] - The company has adopted a strict code of ethics and securities trading standards, ensuring compliance with the listing rules as of December 31, 2024[100] - The audit committee, consisting of four members, has reviewed the annual performance for the fiscal year ending December 31, 2024, and confirmed compliance with applicable accounting standards[106] - The company's preliminary performance figures for the fiscal year ending December 31, 2024, have been verified to be consistent with the audited consolidated financial statements[107]

Maxicity Holdings Limited 豐城控股有限公司 豐城控股有限公司 （於開曼群島註冊成立的成員有限公司） Maxicity Holdings Limited Stock code: 2295 (Incorporated in the Cayman Islands with members' limited liability) 2024 中期報 告 目錄 公司資料 2 財務摘要 4 未經審核簡明綜合損益及其他全面收益表 5 未經審核簡明綜合財務狀況表 6 未經審核簡明綜合權益變動表 7 未經審核簡明綜合現金流量表 8 未經審核簡明綜合財務報表附註 9 管理層討論及分析 21 企業管治及其他資料 28 1 豐城控股有限公司 公司資料 | --- | --- | --- | --- | |------------------------------------------------------|-----------------------------------------|----------------------------------|-------| | | | | | | 董事 ...

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之內容概不 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 之 任 何 損 失 承 擔 任 何 責 任。 Maxicity Holdings Limited 豐城控股有限公司 （於開曼群島註冊成立的成員有限公司） （股份代號：2295） 截至二零二四年六月三十日止六個月中期業績公告 財務摘要 豐 城 控 股 有 限 公 司（「本公司」）及 其 附 屬 公 司（統 稱「本集團」）的 收 益 由 截 至 二 零 二三年六月三十日止六個月約88.2百萬港元減少至截至二零二四年六月三十 日止六個月約84.8百 萬 港 元，減 幅 約 為3.4百萬港元或3.8%。有 關 收 益 減 少 乃 主 要由於項目數量由截至二零二三年六月三十日止六個月的42個減少至截至二 零二四年六月三十日止六個月的18個。 毛利由截至二零二三年六月三十日止六個月約9.9百萬港元減少約4.1百萬港元 或41.2%至截至二零二 ...

企業管治報告 本集團已採納主板證券上市規則（「上市規則」）附錄C1所載企業管治守則（「企業管治守則」）所載原則及守則條 文，作為本集團企業管治常規的基礎。 經參照企業管治守則第C.1.3條守則條文，董事會亦已採納標準守則，以管制可能擁有本集團未公佈內幕消息的 相關僱員所進行的本集團所有證券交易。經合理查詢後，於截至二零二三年十二月三十一日止年度內，並未發 現有關本集團相關僱員違反標準守則的事件。 董事會組成成員及責任 趙少玲女士 鄺志成先生 凌肇曾先生 曹炳昌先生 集團文化及策略 (c) 管理層團隊定期向董事會報告一次，以便董事會能夠定期評估其文化的核心價值。 企業管治報告（續） (g) 管理層團隊定期審核僱員薪酬政策。 企業管治報告 21 開曼群島股份過戶登記總處 (d) 就董事委任或重新委任以及董事繼任計劃向董事會作出推薦意見。 提名委員會由一名執行董事謝先生以及三名獨立非執行董事趙女士、鄺先生及凌先生組成。謝先生為提名委員 會主席。 根據提名委員會的職權範圍，提名委員會每年應至少舉行一次會議，並應按委員會的要求舉行額外會議。 (d) 審閱董事會多元化政策。於向董事會提出推薦建議之前，提名委員會在物色及遴 ...

Maxicity Holdings Limited 豐城控股有限公司 （於開曼群島註冊成立的成員有限公司） 股份代號：2295 財務摘要 4 未經審核簡明綜合現金流量表 8 1 豐城控股有限公司 何家淇先生 香港股份過戶登記分處 Conyers Trust Company (Cayman) Limited Cricket Square Hutchins Drive P.O. Box 2681 Grand Cayman, KY1-1111 Cayman Islands 香港主要營業地點 www.maxicity.com.hk 3 豐城控股有限公司 毛利由截至二零二二年六月三十日止六個月約9.2百萬港元增加約0.8百萬港元或8.4%至截至 二零二三年六月三十日止六個月約9.9百萬港元。毛利增加主要是由上述本集團收益增加所 致。毛利率於截至二零二二年六月三十日止六個月約為11.0%，及於截至二零二三年六月 三十日止六個月約為11.3%，保持較為穩定。 本公司董事（「董事」）會（「董事會」）建議派發截至二零二三年六月三十日止六個月之中期股 息每股本公司普通股2.5港仙（截至二零二二年六月三十日止六個月：無）。中期股息 ...

轉板上市及相關開支由截至二零二一年十二月三十一日止年度約11.8百萬港 元大幅減少約11.8百 萬 港 元 至 截 至 二 零 二 二 年 十 二 月 三 十 一 日 止 年 度 零 港 元。 財務成本由截至二零二一年十二月三十一日止年度約16,000港元增加至截至二 零二二年十二月三十一日止年度約52,000港 元，乃 主 要 由 於 租 賃 負 債 增 加。 年內溢利及全面收益總額 資本承擔及或然負債 於 二 零 二 二 年 十 二 月 三 十 一 日，本 集 團 並 無 任 何 資 產 抵 押。 本 集 團 已 就 其 庫 務 政 策 採 取 審 慎 的 財 務 管 理 方 針。董 事 會 密 切 監 察 本 集 團 流 動 資 金 狀 況 以 確 保 本 集 團 資 產、負 債 及 其 他 承 擔 的 流 動 資 金 結 構 可 隨 時 滿 足 其 資 金 需 求。 資產負債比率 於 二 零 二 二 年 十 二 月 三 十 一 日，本 集 團 的 流 動 資 產 淨 值 約 為161.2百 萬 港 元， 較二零二一年十二月三十一日約151.3百萬港元大幅增加約9.9百 萬 港 元。本 集 團的流動比率 ...

Financial Performance - Revenue decreased significantly from approximately HKD 154.8 million for the six months ended June 30, 2021, to approximately HKD 83.2 million for the six months ended June 30, 2022, representing a decline of about HKD 71.6 million or 46.3%[9] - Gross profit fell from approximately HKD 28.8 million to approximately HKD 9.2 million, a decrease of about HKD 19.6 million or 68.1%, with the gross profit margin dropping from 18.6% to 11.0%[9] - Total comprehensive income attributable to equity holders decreased from approximately HKD 15.8 million to approximately HKD 6.1 million, a decline of about HKD 9.7 million or 61.5%[9] - Adjusted profit attributable to equity holders was approximately HKD 3.9 million, down about HKD 16.2 million or 80.8% compared to the same period in the previous year[9] - Basic and diluted earnings per share were approximately HKD 0.0152, compared to HKD 0.039 for the six months ended June 30, 2021[9] - Total profit and comprehensive income for the six months ended June 30, 2022, decreased significantly to approximately HKD 6.1 million, down by HKD 9.7 million or 61.5% compared to HKD 15.8 million for the same period in 2021[97] - Adjusted profit and comprehensive income attributable to equity holders for the six months ended June 30, 2022, was approximately HKD 3.9 million, a decrease of about HKD 16.2 million or 80.8% from HKD 20.1 million for the same period in 2021[97] Dividends and Earnings - The company did not recommend any interim dividend for the six months ended June 30, 2022, consistent with the previous year[9] - The board of directors did not recommend any interim dividend for the six months ended June 30, 2022, consistent with the previous year[153] Labor and Operational Challenges - Labor shortages due to COVID-19 infections and isolation requirements led to project delays and additional financial burdens for the company[9] - The company implemented measures to mitigate labor shortages by hiring additional temporary workers during the pandemic[9] - The significant decrease in revenue and gross profit was primarily attributed to a reduction in the number of large-scale projects and their associated income[9] - The company maintained its workforce during quarantine periods to ensure readiness for immediate resumption of work, adding to financial pressures[9] - The group anticipates a challenging second half of 2022, with expectations of improved business conditions due to economic recovery and favorable government policies[84] Assets and Liabilities - Non-current assets increased to HKD 5,711 million as of June 30, 2022, compared to HKD 3,863 million as of December 31, 2021, reflecting a growth of 47.8%[14] - Current assets decreased to HKD 176,800 million from HKD 183,218 million, a decline of 3.3% year-over-year[14] - Total assets less current liabilities rose to HKD 161,188 million, up from HKD 155,162 million, representing a growth of 3.7%[14] - The company's equity attributable to owners increased to HKD 160,735 million as of June 30, 2022, compared to HKD 154,663 million as of December 31, 2021, an increase of 3.9%[14] - The company’s total liabilities decreased to HKD 21,323 million from HKD 31,919 million, a decrease of 33.3%[14] Cash Flow and Financial Position - Net cash generated from operating activities was HKD 4,618 million for the six months ended June 30, 2022, down from HKD 12,776 million, a decrease of 63.8%[19] - Cash and bank balances increased to HKD 121,116 million from HKD 119,417 million, showing a slight increase of 1.4%[14] - The current ratio as of June 30, 2022, was approximately 8.3 times, an increase from 5.7 times as of December 31, 2021[98] - The net cash and bank balance as of June 30, 2022, was approximately HKD 121.1 million, compared to HKD 119.4 million as of December 31, 2021[98] Employee Costs and Management - The total employee costs for the six months ended June 30, 2022, were HKD 27,851,000, a decrease of 27.4% from HKD 38,362,000 in 2021[41] - Total employee costs (excluding director remuneration) for the six months ended June 30, 2022, were approximately HKD 26.3 million, compared to HKD 36.9 million for the same period in 2021[148] - The total number of employees as of June 30, 2022, was 161, down from 212 as of December 31, 2021[148] - The group’s management personnel compensation for the six months ended June 30, 2022, was HKD 2,119 thousand, compared to HKD 1,980 thousand for the same period in 2021, an increase of approximately 7.0%[73] Contracts and Projects - The group was awarded 27 contracts with a total contract value of approximately HKD 819.5 million, of which 6 contracts worth approximately HKD 85.3 million were completed[80] - As of June 30, 2022, the group had 21 ongoing contracts with a total contract value of approximately HKD 734.2 million[80] - The number of projects contributing to revenue was 27 for both periods, but the number of public projects decreased from 17 to 12, while private projects increased from 10 to 15[88] Government Support and Subsidies - The group recognized government subsidies of HKD 2,200,000 under the anti-epidemic fund, compared to HKD 1,321,000 for the same period in 2021[35] - Other income, gains, and losses increased from approximately HKD 1.5 million to approximately HKD 2.3 million, mainly due to increased government subsidies under the employment support scheme[92] Corporate Governance and Compliance - The company has complied with the corporate governance code since its listing date and continues to uphold high standards of corporate governance[149] - The company has maintained compliance with the Securities and Futures Ordinance regarding the disclosure of interests and holdings by directors and major executives[120] - The audit committee consists of four members, with Mr. Cao Bingchang as the chairman, who has over 18 years of professional accounting experience[152] Share Capital and Ownership - As of June 30, 2022, the company's issued share capital was HKD 4.0 million, divided into 400,000,000 shares at HKD 0.01 each[127] - Mr. Xie and Mr. He are deemed to jointly hold 300,000,000 shares, representing 75% of the issued share capital of the company[127] - The company has a significant concentration of ownership, with major shareholders holding 75% of the issued share capital[127] Future Outlook - The company continues to review and compare its disclosed business strategies with the evolving industry conditions to ensure effective use of net proceeds[118] - The company has confirmed that there were no purchases, sales, or redemptions of its own shares during the six months ended June 30, 2022[130] - There were no significant events affecting the group after the reporting period ending June 30, 2022[154]

Financial Performance - For the year ended December 31, 2021, the group recorded revenue of approximately HKD 293.9 million, an increase of about HKD 17.9 million or 6.5% compared to approximately HKD 276.0 million for the year ended December 31, 2020[10]. - The profit attributable to equity holders for the year was approximately HKD 27.8 million, a significant decrease of about HKD 11.5 million or 29.3% from approximately HKD 39.4 million for the previous year[10]. - The adjusted profit attributable to equity holders, after excluding listing and related expenses, was approximately HKD 38.3 million, an increase of about HKD 1.9 million or 5.1% compared to approximately HKD 36.5 million for the previous year[10]. - Total comprehensive income decreased significantly by approximately HKD 11.5 million or 29.3% to about HKD 27.8 million for the year ended December 31, 2021, primarily due to increased listing-related expenses and reduced government subsidies[24]. - Adjusted total comprehensive income (excluding listing-related expenses and government subsidies) increased by approximately HKD 1.9 million or 5.1% to about HKD 38.3 million for the year ended December 31, 2021[24]. Cash and Liquidity - As of December 31, 2021, the group's cash and bank balances were approximately HKD 119.4 million, an increase of about HKD 35.9 million or 43.0% from approximately HKD 83.5 million as of December 31, 2020[10]. - Cash and bank balances increased by approximately HKD 35.9 million or 43.0% to about HKD 119.4 million as of December 31, 2021, mainly from operating cash flow[27]. - Current ratio improved from approximately 4.6 times to about 5.7 times as of December 31, 2021, with net current assets increasing by approximately HKD 28.7 million[33]. - The debt-to-equity ratio decreased from approximately 0.3% to about 0.1% as of December 31, 2021, mainly due to an increase in equity attributable to shareholders[29]. Project and Operational Updates - The group primarily operates in the slope engineering sector in Hong Kong, with most of its revenue derived from public projects[10]. - The slope engineering industry in Hong Kong is gradually recovering from the impacts of the COVID-19 pandemic[10]. - The number of projects contributing to revenue increased from 28 in 2020 to 39 in 2021, with public projects rising from 16 to 19 and private projects from 12 to 20[18]. - The group completed 21 contracts with a total contract value of approximately HKD 548.2 million out of 39 contracts awarded, with 18 contracts still in progress valued at approximately HKD 475.2 million as of December 31, 2021[16]. - The group reported a total of 39 contracts awarded, with a total contract value of approximately HKD 1,023.4 million as of December 31, 2021[16]. Challenges and Outlook - The group anticipates that the fifth wave of the pandemic will continue at least until the second quarter of 2022, with a cautious outlook for business performance in 2022[13]. - Labor shortages and project delays were experienced due to COVID-19 infections among employees and the need for disinfection of work sites[13]. - The group faced significant delays in the certification process for projects due to remote working policies affecting the construction industry[12]. - The group is prepared to face more challenging times in 2022, with expectations of gradual improvement in business conditions[13]. - The group expects economic recovery and favorable government policies to increase demand for slope engineering projects, providing significant opportunities[13]. Governance and Management - The board of directors did not recommend the payment of any dividends for the year ended December 31, 2021, consistent with the previous year[44]. - The company has established credit policies to manage credit risk, with regular independent credit assessments of customers conducted by financial and administrative staff[37]. - The financial director is responsible for monitoring the overall liquidity requirements on a monthly basis to ensure financial commitments are met[37]. - The company has a comprehensive corporate governance policy in place, reviewed regularly by the board[88]. - The board consists of experienced members with diverse backgrounds in business management, finance, and legal matters, promoting gender diversity at all levels[114]. Environmental and Social Responsibility - The company aims to minimize any adverse environmental impacts from its business activities and has established an environmental management system compliant with ISO 14001:2015 standards since 2018[169]. - The company has implemented measures to ensure compliance with environmental regulations and has established processes for environmental protection[169]. - The company aims to reduce greenhouse gas emissions by 3% by 2026, using 2021 as the baseline year[183]. - The company has communicated its environmental policy to all employees, suppliers, and contractors to enhance environmental protection efforts[172]. - The company aims to provide a safe working environment and has policies in place to protect employees from occupational hazards[167].