Group 1 - The company, Fengcheng Holdings (02295.HK), will hold a board meeting on August 27, 2025 [1] - The meeting will review and approve the group's interim results for the six months ending June 30, 2025, and discuss the proposal for an interim dividend, if any [1]

承董事會命 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） 董事會會議召開日期 豐 城 控 股 有 限 公 司（「本公司」，連 同 其 附 屬 公 司，統 稱「本集團」）董 事（「董 事」） 會（「董事會」）謹 此 宣 佈，將 於 二 零 二 五 年 八 月 二 十 七 日（星 期 三）舉 行 董 事 會 會 議，以（其 中 包 括）考 慮 及 批 准 本 集 團 截 至 二 零 二 五 年 六 月 三 十 日 止 六 個 月 之 未 經 審 核 中 期 業 績 及 其 刊 發，以 及 建 議 派 付 中 期 股 息（如 有）。 豐城控股有限公司 主 席 謝城基 香 港，二 零 二 五 年 八 月 十 ...

致：香港交易及結算所有限公司 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 | | | 本月底法定/註冊股本總額： HKD 10,000,000 FF301 第 1 頁 共 10 頁 v 1.1.1 公司名稱: 豐城控股有限公司 呈交日期: 2025年8月1日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 02295 | 說明 | 普通股 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 1,000,000,000 | HKD | | 0.01 | HKD | | 10,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 1,000,000,000 | HKD | | ...

Group 1 - The company has established a wholly-owned subsidiary in China, which is permitted to engage in various business activities including industrial park management and property management services [1][2] - The establishment of the subsidiary is part of the company's strategy to diversify its business portfolio and broaden revenue sources, particularly in the Chinese market, which presents attractive prospects due to long-term structural trends and supportive government policies [1] - The company is actively seeking opportunities to participate in the industrial park management sector, focusing on the market in Ganzhou, Jiangxi Province [1][2] Group 2 - Although the subsidiary has not commenced operations, the management is considering potential projects, including management services for properties related to gold and luxury goods trading [2] - The board is in discussions with independent private investors regarding a bond subscription, with a proposed issuance of bonds by Jinning Capital with a one-year term and an 8% coupon rate, totaling up to HKD 40 million [2]

Group 1 - The core point of the article is that Fengcheng Holdings has established a wholly-owned subsidiary in Jiangxi Province, China, to diversify its business and expand revenue sources, particularly in the industrial park management sector [1] - The newly formed subsidiary will focus on various management services, including enterprise headquarters management, industrial park management, commercial complex management, and property management [1] - The company aims to leverage the structural trends and supportive government policies in the Chinese market to capitalize on attractive opportunities [1] Group 2 - The board of directors announced discussions with independent private investors regarding a bond subscription, with a proposed issuance of bonds totaling up to HKD 40 million at an interest rate of 8% [2] - The net proceeds from the bond issuance are intended to support the company's strategic entry into the industrial park management industry in China, specifically targeting Jiangxi Province [2] - The funds will be allocated to the newly established subsidiary for preliminary preparations and trial operations within its licensed business scope [2]

Group 1 - As of June 3, a total of 105 stocks reached their 52-week highs, with Huayin International Holdings (00989), Dingyifeng Holdings (00612), and Youquhui Holdings (02177) leading the high rate at 57.26%, 37.93%, and 23.02% respectively [1] - The closing prices and highest prices for the top three stocks are as follows: Huayin International Holdings at 1.370 and 1.950, Dingyifeng Holdings at 0.770 and 0.800, and Youquhui Holdings at 3.550 and 3.580 [1] - Other notable stocks that reached their 52-week highs include China Antibody-B (03681) with a high rate of 21.62% and Fengcheng Holdings (02295) at 19.52% [1] Group 2 - The report also lists stocks that reached their 52-week lows, with Des Holdings (08437) showing the largest decline at -38.79%, followed by Dimi Life Holdings (01667) at -20.50% [3] - The closing prices and lowest prices for the top three stocks that reached their lows are: Des Holdings at 0.177 and 0.071, Dimi Life Holdings at 0.140 and 0.128, and Lujizhi Technology (01745) at 0.197 and 0.194 [3] - Other stocks with significant declines include GBA Group (00261) at -11.48% and Baide International (02668) at -10.88% [3]

Financial Performance - For the fiscal year ending December 31, 2024, the company reported revenue of approximately HKD 205.8 million, an increase of about HKD 37.6 million or 22.3% compared to HKD 168.2 million for the fiscal year ending December 31, 2023[10] - The profit attributable to equity holders for the year was HKD 8.7 million, a decrease of approximately HKD 5.2 million or 37.3% from HKD 13.9 million in the previous year[10] - 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 22.3% or approximately HKD 37.6 million[18] - Gross profit decreased from approximately HKD 20.7 million to approximately HKD 17.7 million, a decline of about 14.4%, with the gross profit margin dropping from approximately 12.3% to 8.6%[21] - Other income and net other (losses)/gains decreased by approximately HKD 2.9 million or 67.5%, from approximately HKD 4.3 million to approximately HKD 1.4 million, mainly due to a reduction in bank interest income[22] - The total comprehensive income for the year ended December 31, 2024, 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[27] Cash and Assets - As of December 31, 2024, the company's cash and bank balances were approximately HKD 63.4 million, a decrease of about HKD 51.1 million or 44.7% from HKD 114.6 million as of December 31, 2023[10] - Cash and bank balances decreased by approximately HKD 51.2 million or 44.7%, from approximately HKD 114.6 million to approximately HKD 63.4 million, primarily due to dividend payments of approximately HKD 70.0 million during the year[30] - The debt-to-equity ratio increased from approximately 0.5% to approximately 1.4% due to a decrease in equity attributable to the company's shareholders[35] - The current ratio decreased from approximately 7.0 times to approximately 3.6 times, with net current assets dropping from approximately HKD 137.2 million to approximately HKD 74.9 million[36] Contracts and Operations - The company secured 20 contracts during the fiscal year, with a total contract value of approximately HKD 806.1 million, of which 3 contracts valued at HKD 47.1 million were completed[16] - There are currently 17 ongoing contracts with a total value of approximately HKD 759.0 million as of December 31, 2024[16] - The company is focused on expanding its operations in slope engineering, which includes various services such as installing protective nets and drainage systems[17] - Four new clients contributed to five engineering project contracts with an estimated total value of HKD 287.7 million, addressing the risk of limited customer numbers[38] Market and Economic Conditions - The company remains cautious about future business prospects due to uncertainties in labor and material costs influenced by macroeconomic conditions[12] - The company has experienced challenges due to geopolitical tensions and economic uncertainties, impacting its overall performance outlook[12] - The Hong Kong government plans to increase spending on landslide prevention from HKD 1 billion to HKD 1.3 billion in 2025, which is expected to benefit the company's operations[12] - The government plans to increase spending on landslide prevention from HKD 1 billion to HKD 1.3 billion in 2025, indicating potential growth opportunities for the group[54] Corporate Governance - The company is committed to high standards of corporate governance, having adopted the principles and code provisions of the Corporate Governance Code since its GEM listing on December 13, 2019[75] - The company maintains a focus on compliance and governance through its independent directors and committees[62] - The board consists of six members, with four being independent non-executive directors, exceeding one-third of the board as per listing rules[78] - The company has established three board committees: the audit committee, the remuneration committee, and the nomination committee, each with defined written terms of reference[91] - The board is responsible for approving financial statements and annual budgets, as well as monitoring business performance[82] Risk Management - The company has established a risk management and internal control system to ensure the accuracy and reliability of presented data[134] - The board is responsible for maintaining effective risk management and internal control systems to protect the company's assets and shareholder interests[130] - The independent auditor is responsible for auditing and confirming the financial statements of the group, reporting any control deficiencies to management[135] Environmental, Social, and Governance (ESG) - The ESG report outlines the company's commitment to sustainable development and responsible environmental, social, and governance management for the fiscal year ending December 31, 2024[157] - The board of directors is responsible for establishing ESG goals, developing sustainable strategies, and reviewing performance[158] - The company identifies 15 key ESG issues through a comprehensive materiality assessment to focus on areas with significant impact on long-term sustainability and value creation[166] - The company has achieved ISO 14001:2015 certification for its environmental management system, demonstrating compliance with internationally recognized standards[169] Employee and Management - As of December 31, 2024, the group had 150 employees, an increase from 119 employees in 2023, with total employee costs approximately HKD 57.1 million, unchanged from 2023[41] - The company’s management team regularly reviews employee compensation policies to ensure competitiveness and compliance[82] - The company emphasizes gender diversity at all levels and is taking measures to promote it through recruitment and career development opportunities for women[118] Shareholder Communication - The company emphasizes effective communication with shareholders to enhance investor relations and understanding of business performance and strategy[153] - The company has established a shareholder communication policy to provide balanced and comprehensible information to shareholders and investors[153] - Shareholders have the right to convene special general meetings if they hold at least 10% of the voting rights[149]

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]

Financial Performance - Revenue decreased from approximately HKD 88.2 million for the six months ended June 30, 2023, to approximately HKD 84.8 million for the six months ended June 30, 2024, a decline of about 3.4 million or 3.8%[4] - Gross profit fell from approximately HKD 9.9 million to approximately HKD 5.9 million, a decrease of about HKD 4.1 million or 41.2%[4] - Gross margin decreased from approximately 11.3% to approximately 6.9% due to a slight increase in service costs despite the revenue decline[4] - Total comprehensive income decreased from approximately HKD 6.4 million to approximately HKD 1.7 million, a decline of about HKD 4.8 million or 74.0%[4] - Basic and diluted earnings per share were approximately HKD 0.42 for the six months ended June 30, 2024, compared to HKD 1.61 for the same period in 2023[5] - For the six months ended June 30, 2024, the company reported a pre-tax profit of HKD 21,845,000, a decrease of 33.3% compared to HKD 32,658,000 for the same period in 2023[23] - The company's total revenue from bank interest income and gains/losses from the sale of properties, plants, and equipment was HKD 814,000, down from HKD 2,387,000 in the previous year, representing a decline of 65.9%[21] - The company incurred administrative expenses of HKD 2,605,000, an increase from HKD 2,393,000 in the previous year, reflecting an increase of 8.8%[24] - The company's tax expense for the six months ended June 30, 2024, was HKD 421,000, a significant decrease from HKD 1,232,000 in the previous year, reflecting a reduction of 65.8%[27] Dividends - The company did not recommend the payment of an interim dividend for the six months ended June 30, 2024, compared to an interim dividend of HKD 0.025 per share for the same period in 2023[4] - The company proposed a special dividend of HKD 0.175 per ordinary share, totaling HKD 70,000,000, which was approved by shareholders[29] - The board proposed a special dividend of HKD 0.175 per ordinary share, totaling HKD 70 million, which was approved by shareholders[85] Assets and Liabilities - Total assets less current liabilities amounted to approximately HKD 76.5 million as of June 30, 2024, down from HKD 144.0 million as of December 31, 2023[8] - Current liabilities decreased from approximately HKD 160.2 million to approximately HKD 93.9 million[8] - The company's equity attributable to owners decreased from approximately HKD 143.1 million to approximately HKD 74.8 million[8] - The company reported a net cash position of approximately HKD 51.5 million as of June 30, 2024, compared to HKD 114.6 million as of December 31, 2023[8] - Cash and cash equivalents at the end of the period were HKD 51,516,000, down from HKD 121,577,000 at the end of June 2023[10] - Trade receivables as of June 30, 2024, were HKD 3,636,000, down from HKD 6,495,000 as of December 31, 2023, indicating a decrease of 44.5%[31] - Contract assets totaled HKD 31,827,000 as of June 30, 2024, a decrease from HKD 33,615,000 as of December 31, 2023, representing a decline of 5.3%[35] - Trade payables decreased slightly from HKD 20,066 thousand as of December 31, 2023, to HKD 19,701 thousand as of June 30, 2024, reflecting a reduction of approximately 1.8%[37] - Accrued expenses and other payables increased significantly from HKD 1,566 thousand to HKD 5,330 thousand, representing an increase of approximately 239%[37] Cash Flow - Operating cash flow for the six months ended June 30, 2024, was HKD 10,041,000, compared to HKD 2,575,000 for the same period in 2023, representing a significant increase[10] - Net cash used in investing activities was HKD 2,747,000 for the six months ended June 30, 2024, compared to HKD 2,134,000 in the same period of 2023[10] - Net cash used in financing activities was HKD 70,333,000 for the six months ended June 30, 2024, compared to HKD 30,499,000 in the same period of 2023[10] Contracts and Projects - The group secured 17 contracts with a total contract value of approximately HKD 814.0 million during the six months ended June 30, 2024[45] - As of June 30, 2024, there were 16 ongoing contracts with a total contract value of approximately HKD 810.9 million, and one contract valued at HKD 3.2 million was yet to commence[45] - The number of projects contributing to revenue dropped from 42 to 18, with a significant reduction in private projects from 31 to 7[48] - The group experienced a decrease in retention receivables due to a reduction in the number of ongoing and completed contracts during the year[36] Employment and Staff - As of June 30, 2024, the group employed 136 staff, an increase from 119 staff as of December 31, 2023[82] - The total employee cost (excluding directors' remuneration) for the six months ended June 30, 2024, was approximately HKD 20.1 million, down from HKD 31.1 million for the same period in 2023[82] Environmental and Compliance - The company has implemented various environmental protection measures to minimize its impact on the environment and natural resources[63] - The company has not faced any prosecutions, fines, or penalties for violations of applicable environmental laws or regulations as of the report date[63] - The company has not faced any foreign exchange risks during the six months ended June 30, 2024, and did not engage in foreign exchange hedging[62] - The audit committee, consisting of four members, has reviewed the interim financial statements and confirmed compliance with applicable accounting standards[84] Share Capital and Ownership - The company's issued share capital as of June 30, 2024, was HKD 4.0 million, divided into 400,000,000 shares with a par value of HKD 0.01 each[66] - The company’s major shareholders, Mr. Xie and Mr. He, each hold a 75% interest in 300,000,000 shares through Junfeng[65] - The company did not purchase, sell, or redeem any shares during the six months ending June 30, 2024[70] - The total number of shares that may be issued under the share option plan is capped at 10% of the total shares issued at the time of listing, which amounts to 40,000,000 shares[75] - The maximum number of shares that can be issued to each participant under the share option plan is limited to 1% of the company's issued share capital at that time within any 12-month period[76] - The share options granted under the plan must be exercised within a period not exceeding 10 years from the date of grant[77] Future Outlook - The company is adjusting its bidding strategy due to a shortage of construction-related professionals, with an estimated shortfall of 17,500 to 24,000 workers expected to increase to 48,500 to 55,000 by 2027[45] - The Hong Kong government plans to allocate HKD 1.1 billion for landslide prevention and mitigation in the fiscal year 2024/25, an increase from HKD 1 billion in 2023/24[45] - The company has no plans for significant investments or capital assets in the future[63] - No significant events affecting the group have occurred since the end of the reporting period on June 30, 2024[86]

Financial Performance - Revenue decreased from approximately HKD 88.2 million for the six months ended June 30, 2023, to approximately HKD 84.8 million for the six months ended June 30, 2024, a decline of about 3.4 million HKD or 3.8%[1] - Gross profit fell from approximately HKD 9.9 million to approximately HKD 5.9 million, a decrease of about 4.1 million HKD or 41.2%[1] - Gross margin decreased from approximately 11.3% to approximately 6.9% due to reduced revenue and slightly increased service costs[1] - Profit and total comprehensive income decreased from approximately HKD 6.4 million to approximately HKD 1.7 million, a decline of about 4.8 million HKD or 74.0%[2] - Basic and diluted earnings per share were approximately HKD 0.42, down from HKD 1.61 for the previous period[2] - Total revenue for the group for the six months ended June 30, 2024, was HKD 84,794,000, compared to HKD 88,173,000 for the same period in 2023, reflecting a decrease of 3.2%[13] - The group reported a basic earnings per share of HKD 4.18 for the six months ended June 30, 2024, compared to HKD 16.09 for the same period in 2023, a decrease of 74.0%[19] - Profit and total comprehensive income decreased by approximately HKD 4.8 million or 74.0% to about HKD 1.7 million for the six months ending June 30, 2024[48] Assets and Liabilities - Total assets decreased from HKD 160.2 million as of December 31, 2023, to HKD 93.9 million as of June 30, 2024[4] - Cash and bank balances decreased significantly from HKD 114.6 million to HKD 51.5 million[4] - Net current assets decreased from HKD 137.2 million to HKD 67.1 million[4] - The company’s equity attributable to owners decreased from HKD 143.1 million to HKD 74.8 million[4] - As of June 30, 2024, the group recorded net current assets of approximately HKD 67.1 million, down from HKD 137.2 million as of December 31, 2023[49] - The current ratio as of June 30, 2024, was approximately 3.5 times, down from about 7.0 times as of December 31, 2023[49] Cash Flow - Operating cash flow for the six months ended June 30, 2024, was HKD 10,041 million, a significant increase from HKD 2,575 million in the same period of 2023, representing a growth of 288%[6] - The company reported a decrease in cash flow from investing activities, with a net cash outflow of HKD 2,747 million compared to a net inflow of HKD 2,134 million in the previous year[6] - Cash and cash equivalents at the end of June 30, 2024, were HKD 51,516 million, down from HKD 121,577 million at the end of June 30, 2023, indicating a decrease of 57.6%[6] - The company experienced a significant reduction in trade and other receivables, decreasing by HKD 21,367 million, which positively impacted operating cash flow[6] Dividends - The company does not recommend the payment of an interim dividend for the six months ended June 30, 2024, compared to a dividend of HKD 0.025 per share for the previous period[2] - The board proposed a special dividend of HKD 0.175 per ordinary share, totaling HKD 70 million, which was approved by shareholders on February 2, 2024[76] Revenue Sources - Revenue from public projects for the six months ended June 30, 2024, was HKD 79,271,000, an increase from HKD 74,461,000 in the same period of 2023, representing a growth of 2.4%[13] - Revenue from private projects decreased significantly to HKD 5,523,000 for the six months ended June 30, 2024, down from HKD 13,712,000 in the same period of 2023, a decline of 59.7%[13] - The number of projects contributing to revenue dropped from 42 to 18, with a significant reduction in private projects[40] Employee and Management Costs - The total remuneration for directors and senior management for the six months ended June 30, 2024, was 3,168,000 HKD, an increase from 2,484,000 HKD for the same period in 2023[33] - Total employee costs (excluding director remuneration) for the six months ended June 30, 2024, were approximately HKD 20.1 million, down from HKD 31.1 million for the same period in 2023[73] - As of June 30, 2024, the group had 136 employees, an increase from 119 employees as of December 31, 2023[73] Corporate Governance - The company has adopted the principles and code provisions of the corporate governance code as its corporate governance framework since its listing[74] - The audit committee, consisting of four members, has reviewed the unaudited condensed consolidated interim financial statements and confirmed compliance with applicable accounting standards[75] - The board emphasizes the importance of sound corporate governance to protect shareholder interests and enhance corporate value[74] - The company has maintained compliance with all applicable corporate governance code provisions as of the announcement date[75] Environmental Compliance - The company has implemented various environmental protection measures to minimize its impact on air pollution and noise[57] - The company has not faced any penalties or prosecutions for violating applicable environmental laws or regulations as of the announcement date[57] - The company recognizes the importance of environmental protection and is committed to compliance with all applicable laws and regulations in Hong Kong[57] - The company has sufficient environmental protection measures in place to ensure compliance with relevant laws[57] Contracts and Future Outlook - The group secured 17 contracts with a total contract value of approximately HKD 814.0 million for the six months ending June 30, 2024[37] - As of June 30, 2024, the group has 16 ongoing contracts with a total contract value of approximately HKD 810.9 million, excluding one contract valued at HKD 3.2 million that has not yet commenced[37] - The group is facing a labor shortage, with an estimated shortfall of 17,500 to 24,000 workers and professionals in the construction industry[38] - The group maintains a cautious outlook for the remaining period of 2024 due to ongoing challenges in the labor market[39]