Financial Performance - The company reported a significant increase in revenue, achieving a total of $X million, representing a Y% growth compared to the previous period[17]. - For the six months ended 30 June 2021, the revenue was approximately RMB 1,442.3 million, an increase of 29.5% compared to RMB 1,112.8 million for the same period in 2020[18]. - The company recorded a profit before taxation of RMB 18,935,000, a significant recovery from a loss of RMB 250,477,000 in the prior year[67]. - Profit attributable to equity shareholders was about RMB 6.2 million, a recovery from a loss of RMB 246.5 million in the same period last year[21]. - The profit for the period was RMB 6,245,000, compared to a loss of RMB (246,514,000) in the same period last year, indicating a significant turnaround[70]. Revenue Breakdown - Revenue from the domestic market increased by about RMB 103.3 million or 20.8% to approximately RMB 598.9 million, contributing approximately 41.5% of total revenue[26]. - Revenue from the overseas market increased by about RMB 226.2 million or 36.6% to approximately RMB 843.5 million, contributing approximately 58.5% of total revenue[26]. - Revenue from contracts with customers recognized over time was RMB 1,398,643, while revenue recognized at a point in time was RMB 43,689 for the six months ended June 30, 2021[112]. - Revenue from Mainland China amounted to RMB 598,875, up from RMB 495,566 in the same period of 2020, indicating a growth of about 20.9%[112]. - Revenue from the United States was RMB 181,584, compared to RMB 156,418 in the previous year, reflecting an increase of approximately 16.1%[112]. Cost and Profitability - The cost of sales increased by about RMB 257.7 million or 28.7% to approximately RMB 1,155.2 million compared to the same period last year[26]. - The adjusted gross profit margin improved significantly to 19.3% from 5.7% year-on-year[18]. - The total adjusted gross profit for all reportable segments was RMB 278,146 for the six months ended June 30, 2021, compared to RMB 63,279 in the same period of 2020[118]. - Selling expenses decreased to RMB 35,600,000 from RMB 45,919,000, indicating improved cost management[67]. - Administrative expenses also decreased to RMB 211,802,000 from RMB 262,391,000, reflecting operational efficiency[67]. Cash Flow and Liquidity - Net cash used in operating activities for the six months ended June 30, 2021, was RMB (276,264,000), a decrease from RMB (933,038,000) in the same period of 2020, indicating a significant improvement[87]. - Cash on hand and in bank decreased by about RMB 603.6 million or 30.0% to approximately RMB 1,409.0 million[34]. - The company reported a net decrease in cash and cash equivalents of RMB (308,742,000) for the six months ended June 30, 2021, compared to RMB (248,103,000) in the same period of 2020[93]. - The company’s cash flow from investing activities included proceeds from the disposal of property, plant, and equipment amounting to RMB 1,798,000 for the six months ended June 30, 2021, compared to RMB 2,069,000 in the same period of 2020[87]. Strategic Initiatives - The company provided a positive outlook for the next quarter, projecting revenue growth of B% and an increase in user engagement metrics[17]. - New product launches are expected to contribute an additional C million in revenue, with anticipated market expansion into D regions[17]. - The company is investing in R&D for new technologies, allocating E% of its budget to enhance product offerings and improve service delivery[17]. - Strategic acquisitions are being considered to bolster market presence, with potential targets identified in the E sector[17]. - The management emphasized a focus on sustainability initiatives, aiming to reduce operational costs by F% through efficiency improvements[17]. Shareholder Returns - The company is committed to shareholder returns, with plans to increase dividends by I% in the next fiscal year[17]. - The Board of Directors resolved not to declare any interim dividend for the six months ended June 30, 2021, compared to no interim dividend for the same period in 2020[48]. Employee and Management Information - As of June 30, 2021, the Group employed 2,804 full-time employees, a decrease from 3,107 employees as of December 31, 2020, due to headcount optimization[48]. - The Group maintains competitive remuneration policies aligned with market conditions and individual performance, with a focus on management incentives[48]. Financial Position - As of June 30, 2021, total equity increased to RMB 2,125,477,000 from RMB 2,100,752,000 at the beginning of the year, reflecting a growth of approximately 1.17%[84]. - The balance of retained profits as of June 30, 2021, was RMB 545,679,000, compared to RMB 434,434,000 at the beginning of the year, indicating an increase of approximately 25.6%[84]. - The Group's gearing ratio increased to 67.2% as of 30 June 2021, compared to 58.5% on 31 December 2020[34]. Compliance and Governance - The interim financial report has been reviewed by KPMG and approved by the audit committee, ensuring compliance with corporate governance standards[63]. - The company has complied with all code provisions of the Corporate Governance Code as set forth in Appendix 14 to the Listing Rules[63].

Financial Performance - Revenue for 2020 was RMB 2,735.6 million, a decrease of 32.4% from RMB 4,041.3 million in 2019[17] - Adjusted gross profit margin fell to 5.8% in 2020 from 20.7% in 2019[17] - The consolidated net loss for 2020 was RMB 690.6 million, compared to a profit of RMB 89.8 million in 2019[17] - Basic and diluted loss per share was RMB 11.12 in 2020, compared to earnings of RMB 1.45 per share in 2019[17] - No proposed final dividend for 2020, consistent with 2019[17] - The loss attributable to equity shareholders for the year ended December 31, 2020, was approximately RMB 690.6 million, compared to a profit of about RMB 89.8 million in 2019, primarily due to the adverse effects of the prolonged COVID-19 outbreak on the global economy[35] - The Group's revenue from newly-awarded projects decreased by approximately RMB 2,171.7 million or 46.9% year-on-year, totaling about RMB 2,455.1 million in 2020 compared to RMB 4,626.8 million in 2019[70] - For the year ended 31 December 2020, the Group's revenue decreased by about RMB1,305.7 million or 32.3% to approximately RMB2,735.6 million compared to RMB4,041.3 million in 2019[83] - The revenue from the domestic market decreased by about RMB466.8 million or 27.4% to approximately RMB1,236.8 million, contributing approximately 45.2% of the total revenue[83] - The revenue from the overseas market decreased by about RMB838.8 million or 35.9% to approximately RMB1,498.8 million, contributing approximately 54.8% of the total revenue[83] Operational Efficiency and Strategy - The company is focusing on technology-led market strategies to enhance service value[1] - Management emphasizes the importance of improving operational efficiency to recover from losses[1] - The company aims to continue promoting independent brand and intellectual property development as part of its long-term strategy[25] - The management implemented remuneration adjustments to align with the company's challenges during the pandemic[25] - The Group's cautious operating strategy aimed to mitigate credit risks from customers affected by COVID-19, influencing project awards[70] - The company plans to enhance its digital marketing strategy, expecting a 25% increase in customer engagement[1] Market Outlook and Expansion - Future outlook includes potential market expansion and new product development initiatives[1] - The company is exploring strategic acquisitions to strengthen its market position[1] - The company anticipates that the global economy will gradually recover with the popularization of vaccines, although uncertainties remain regarding the pace of recovery[36] - The Group will continue to monitor the non-synchronized economic recovery and potential derivative risks such as trade protectionism and geopolitical tensions in 2021[79] - Market expansion plans include entering two new international markets, which are projected to increase user base by 30%[1] Innovation and Development - The company obtained 26 patents in 2020, which are expected to empower high-quality development for the future[25] - The Group obtained 26 utility model patents in 2020, enhancing its technological innovation capabilities for future development[77] - The company is investing $50 million in research and development for new technologies aimed at enhancing user experience[1] - New product launches are expected to contribute an additional $200 million in revenue over the next fiscal year[1] Corporate Governance - The company has adopted and complied with all code provisions of the Corporate Governance Code for the year ended December 31, 2020, except for one deviation regarding the chairman's meetings with independent non-executive directors[139] - The company emphasizes the importance of a quality Board, effective internal controls, and accountability to shareholders[139] - The Board is responsible for overseeing the Group's businesses, strategic decisions, and performance to enhance shareholder value[143] - The company regularly reviews its corporate governance practices to ensure compliance with the Corporate Governance Code[139] - The Board consists of nine members, including six executive directors and three independent non-executive directors[163] Management and Leadership - The Group has a strong management team with extensive experience in various sectors, including manufacturing, project management, and human resources, enhancing operational efficiency[122][123] - The company reported a significant increase in revenue, achieving a total of $1.2 billion for the fiscal year, representing a 15% year-over-year growth[1] - The leadership's extensive experience and strategic vision position the Group for future growth and market expansion[123] Financial Position and Assets - As of December 31, 2020, the remaining contract value of the Group's backlog was approximately RMB 11,989.5 million, a decrease of about RMB 938.1 million or 7.3% from RMB 12,927.6 million in 2019, which supports sustainable development for the next 2-3 years[75] - The cash on hand and in bank increased by about RMB134.5 million or 7.2% to approximately RMB2,012.6 million as of December 31, 2020, compared to RMB1,878.1 million in 2019[96] - The total bank loan decreased by about RMB545.8 million or 33.2% to approximately RMB1,099.2 million as of December 31, 2020, down from RMB1,645.0 million in 2019[96] - The Group's gearing ratio increased to 75.0% as of December 31, 2020, compared to 71.3% in 2019[96] Employee and Training - The Group's full-time employees decreased to 3,107 as of December 31, 2020, down from 4,016 in the previous year[118] - All directors participated in various training sessions, covering topics such as corporate governance and directors' responsibilities[196] - The company provided induction training for newly appointed directors to ensure awareness of their responsibilities under the Listing Rules[196]

Financial Performance - Revenue for the six months ended June 30, 2020, was RMB 1,112.8 million, a decrease of 38.5% compared to RMB 1,809.7 million for the same period in 2019[7]. - Adjusted gross profit margin for the six months ended June 30, 2020, was 5.7%, down from 19.7% in the same period of 2019, representing a decline of 14.0%[7]. - Consolidated net loss for the six months ended June 30, 2020, was RMB (246.5) million, compared to RMB (59.7) million in the same period of 2019, indicating an increase of over 100% in losses[7]. - Basic and diluted loss per share for the six months ended June 30, 2020, was RMB (3.97), compared to RMB (0.96) for the same period in 2019, reflecting an increase of over 100% in losses per share[7]. - For the six months ended June 30, 2020, the loss attributable to equity shareholders increased by approximately RMB186.8 million or 312.9% to about RMB246.5 million compared to the same period last year[9]. - Total comprehensive loss for the period attributable to equity shareholders was RMB 283,741, compared to a loss of RMB 42,446 in 2019[100]. Revenue Breakdown - Revenue from the domestic market decreased by about RMB192.0 million or 28.0% to approximately RMB495.6 million, contributing about 44.5% of total revenue[11]. - Revenue from the overseas market decreased by about RMB504.8 million or 45.0% to approximately RMB617.3 million, contributing about 55.5% of total revenue[11]. - Revenue from contracts with customers in Mainland China was RMB 495,566,000, a decline of 28% compared to RMB 687,570,000 in 2019[129]. - Revenue from the United States was RMB 156,418,000, down 34.5% from RMB 239,283,000 in the previous year[129]. - The United Kingdom contributed RMB 130,781,000, a decrease of 54% from RMB 284,841,000 in 2019[129]. - Revenue from Australia fell to RMB 85,724,000, down 70.6% from RMB 291,985,000 in the same period last year[129]. Cost and Expenses - The cost of sales decreased by about RMB544.6 million or 37.8% to approximately RMB897.5 million compared to the same period last year[13]. - Selling expenses increased by about RMB4.9 million or 11.9% to about RMB45.9 million, accounting for approximately 4.1% of operating revenue[15]. - Administrative expenses decreased by about RMB67.8 million or 20.5% to about RMB262.4 million, representing approximately 23.6% of operating revenue[15]. - The Group's other income decreased by about RMB9.6 million or 49.2% to about RMB9.9 million compared to RMB19.5 million in the same period last year[15]. - The adjusted gross profit for the reportable segments was RMB 63,279,000 for the first half of 2020, down from RMB 356,943,000 in the same period of 2019, reflecting a significant decline[135]. Cash Flow and Liquidity - Net cash used in operating activities for the six months ended June 30, 2020, was RMB (933.0) million, a decrease of 12.6% compared to RMB (1,067.4) million for the same period in 2019[7]. - Cash used in operating activities for the same period was RMB 933,038,000, a decrease from RMB 1,067,352,000 in the previous year, indicating improved cash flow management[117]. - Cash and cash equivalents at June 30, 2020, were RMB 311,027,000, a decrease from RMB 559,265,000 at the beginning of the year, primarily due to cash outflows from operations[117]. - The company generated net cash from financing activities of RMB 826,959,000, significantly higher than RMB 195,780,000 in the previous year, indicating increased borrowing to support operations[117]. Assets and Liabilities - As of June 30, 2020, total assets amounted to RMB 7,912,071,000, a decrease from RMB 8,399,134,000 as of December 31, 2019, representing a decline of approximately 5.8%[102]. - Current liabilities decreased to RMB 6,004,120,000 from RMB 6,624,937,000, reflecting a reduction of about 9.4%[102]. - The total equity decreased to RMB 2,447,954,000 from RMB 2,731,695,000, representing a decline of about 10.4%[104]. - The total amount of trade and bills receivables, net of loss allowance, was RMB 4,398,183 thousand as of June 30, 2020, up from RMB 4,232,149 thousand at December 31, 2019, indicating an increase of about 3.9%[165]. - The total financial liabilities measured at amortised cost decreased to RMB 1,736,416 thousand as of June 30, 2020, from RMB 2,582,442 thousand at December 31, 2019, indicating a reduction of about 32.8%[178]. Employee and Management - As of June 30, 2020, the Group had 3,523 full-time employees, a decrease from 4,016 as of December 31, 2019, due to headcount optimization[44]. - The Group's remuneration policy includes basic salary, allowances, fringe benefits, and discretionary bonuses, aligning with market conditions and individual performance[44]. - The Group's management has sound policies for management incentives and competitive remuneration to align interests among management, employees, and shareholders[44]. Corporate Governance - The company has complied with all code provisions set out in the Corporate Governance Code for the six months ended June 30, 2020[80]. - The interim financial report has been reviewed and approved by the audit committee, ensuring accountability and transparency[80]. Future Plans and Investments - The Group intends to use proceeds from its global offering for expansion of production capacity, repayment of existing debts, investment in research and development, and expansion of its sales and marketing network[27]. - The Group did not make any significant investments during the reporting period[27]. - The Group has no future plans for significant investments or capital assets as of the date of this interim report[27].

Financial Performance - Revenue for 2019 was approximately RMB 4,041.3 million, a decrease of 12.4% from RMB 4,615.7 million in 2018[11]. - Consolidated net profit for 2019 was RMB 89.8 million, up 1.8% from RMB 88.2 million in 2018[11]. - Profit attributable to equity shareholders rose by 13.5% to RMB 89.8 million in 2019, compared to RMB 79.1 million in 2018[11]. - Basic and diluted earnings per share improved to 1.45 RMB cents in 2019, a 14.2% increase from 1.27 RMB cents in 2018[11]. - For the year ended December 31, 2019, the profit attributable to equity shareholders increased by approximately RMB 10.7 million or about 13.5% to approximately RMB 89.8 million compared to RMB 79.1 million in 2018[23]. - The Group's revenue decreased by approximately RMB 574.4 million or about 12.4% to about RMB 4,041.3 million compared to RMB 4,615.7 million in 2018[42]. - Domestic revenue decreased by approximately RMB 544.0 million or about 24.2% to about RMB 1,703.6 million, contributing approximately 42.2% of total revenue[42]. - Overseas revenue decreased by approximately RMB 30.5 million or about 1.3% to about RMB 2,337.6 million, contributing approximately 57.8% of total revenue[42]. Profitability and Margins - Adjusted gross profit margin increased to 20.7% in 2019 from 15.4% in 2018, reflecting a 5.3% improvement[11]. - The improvement in profit was mainly due to strict control of contract quality and effective contract budget management, leading to an increase in gross profit margin from construction projects[23]. - In 2019, the adjusted gross profit margin increased by about 5.3% to 20.7% compared to 15.4% in 2018, driven by growth in both domestic and overseas adjusted gross profit margins[45]. - The domestic adjusted gross profit margin rose by approximately 6.3% to about 22.4% in 2019, up from 16.1% in 2018[45]. - The overseas adjusted gross profit margin increased by about 4.6% to approximately 19.4% in 2019, compared to 14.8% in 2018[45]. Cash Flow and Financial Position - Net cash generated from operating activities increased by 32.3% to RMB 129.9 million in 2019, up from RMB 98.2 million in 2018[11]. - As of December 31, 2019, the Group's net current assets increased by approximately RMB 116.1 million or about 7.0% year-over-year to approximately RMB 1,774.2 million[56]. - The Group's cash on hand and in bank increased by about RMB 175.3 million or 10.3% year-over-year to approximately RMB 1,878.1 million[56]. - The total bank loan of the Group decreased by about RMB 704.6 million or about 30.0% year-over-year to approximately RMB 1,645.0 million[56]. - The Group's gearing ratio as of December 31, 2019, was 71.3%, a decrease from 73.1% in the previous year[56]. Operational Efficiency and Management - The management has laid a solid foundation for sustainable development by enhancing operational efficiency and reviewing internal control systems[17]. - The company streamlined organizational structures to enhance efficiency and counter downward economic pressures[22]. - The Group plans to adhere to prudent financial management in project selection and cost control for sustainable development[39]. - The Group obtained 31 utility model patents in 2019, indicating ongoing innovation efforts[37]. Market and Strategic Outlook - The company remains confident in long-term development despite short-term impacts from the COVID-19 outbreak, supported by loose monetary and fiscal policies globally[19]. - The company aims to address the current COVID-19 situation carefully to mitigate risks related to business operations and ensure the safety of all staff members[19]. - The domestic growth of investment in non-residential commercial real estate remained low, while the pace of new building starts was steady in 2019[22]. - The Group maintains a prudent but optimistic outlook for future business despite uncertainties related to COVID-19 and other economic risks[39]. Corporate Governance - The Company has adopted the Corporate Governance Code provisions throughout the year ended December 31, 2019[94]. - The Board is responsible for enhancing shareholder value through strategic decisions and performance oversight[96]. - The Company emphasizes the importance of a quality Board and effective internal controls to safeguard shareholder interests[94]. - The Company has established a Nomination Committee responsible for reviewing board composition and making recommendations for appointments[116]. Risk Management - The Group's business heavily relies on the construction and real estate industries, which are cyclical and significantly affected by economic fluctuations[158]. - Operational risks include delays in material supply, unskilled labor, and adverse weather, which can affect project costs and customer satisfaction[161]. - The Company has established systems for managing quality, progress, safety, materials, and costs to mitigate construction risks[164]. - The Audit Committee found no significant areas of concern regarding the Group's risk management and internal control systems during 2019[172]. Employee and Stakeholder Engagement - The Group employed a total of 4,016 full-time employees as of December 31, 2019, down from 4,604 in the previous year due to headcount optimization[72]. - The Company engages with key stakeholders, including employees, suppliers, and customers, as part of its business review[198]. - The Company emphasizes communication with institutional investors to enhance transparency and gather feedback, maintaining a website for public access to business and financial updates[189].

Revenue Performance - Revenue for the six months ended June 30, 2019, was RMB 1,809.7 million, a decrease of 16.9% compared to RMB 2,178.0 million for the same period in 2018[12]. - For the six months ended 30 June 2019, the revenue of the Group decreased by about RMB 368.3 million or 16.9% to approximately RMB 1,809.7 million compared to RMB 2,178.0 million in the same period last year[19]. - Revenue from the domestic market decreased by about RMB 414.2 million or 37.6% to approximately RMB 687.6 million, contributing approximately 38.0% of total revenue[19]. - Revenue from the overseas market increased by about RMB 45.9 million or 4.3% to approximately RMB 1,122.1 million, contributing approximately 62.0% of total revenue[19]. Profitability and Loss - Consolidated net loss for the period was RMB (59.7) million, compared to a loss of RMB (62.3) million in the previous year, representing a 4.2% improvement[12]. - Loss attributable to equity shareholders of the Company was RMB (59.7) million, an improvement of 16.3% from RMB (71.3) million in the prior year[12]. - Basic and diluted loss per share was RMB (0.96), an improvement from RMB (1.15), reflecting a 16.5% reduction in loss per share[12]. - For the six months ended June 30, 2019, the loss attributable to equity shareholders decreased by about RMB 11.6 million or 16.3% to approximately RMB 59.7 million compared to RMB 71.3 million in the corresponding period last year[16]. - The Group reported a loss for the period of RMB 59,727,000 for the six months ended June 30, 2019, compared to a profit of RMB 5,701,000 in the same period of 2018[173]. Cost Management - Adjusted gross profit margin improved to 19.7% from 13.4%, reflecting a 6.3% increase[12]. - The Group's cost of sales decreased by approximately RMB 387.2 million or 21.2% to about RMB 1,442.1 million compared to RMB 1,829.3 million for the same period last year[22]. - The domestic adjusted gross profit margin increased by approximately 11.1% to 24.7% for the six months ended June 30, 2019, compared to 13.6% for the same period last year[22]. - The overseas adjusted gross profit margin increased by approximately 3.5% to 16.7% for the six months ended June 30, 2019, compared to 13.2% for the same period last year[22]. Cash Flow and Financial Position - Net cash used in operating activities was RMB (1,067.4) million, a decrease of 7.5% from RMB (1,154.0) million in the same period last year[12]. - Cash on hand and in bank decreased by about RMB 397.6 million or 23.3% to approximately RMB 1,305.2 million compared to RMB 1,702.8 million at the end of 2018[27]. - Total bank and other loans increased by about RMB 396.6 million or 16.9% to approximately RMB 2,746.2 million compared to RMB 2,349.6 million at the end of 2018[27]. - As of June 30, 2019, net current assets increased by about RMB 108.0 million or 6.5% to approximately RMB 1,766.1 million compared to RMB 1,658.1 million at the end of 2018[27]. Strategic Focus and Future Outlook - The Company is focusing on enhancing its gross profit margin through improved operational efficiencies and cost management strategies[15]. - Future outlook includes potential market expansion and the introduction of new products to drive revenue growth[15]. - The Group aims to strengthen production operation management and maintain cost efficiency to improve staff motivation and shareholder returns[19]. - The Group will maintain a prudent and optimistic view on the market in the second half of 2019, focusing on macroeconomic situations and market trends[19]. Corporate Governance and Compliance - The company complied with all code provisions set out in the Corporate Governance Code during the six months ended June 30, 2019[72]. - The interim results for the six months ended June 30, 2019, were reviewed by KPMG and approved by the audit committee, which includes three independent non-executive directors[73]. - The company is committed to enhancing investors' confidence through good corporate governance practices[72]. IFRS 16 Adoption - The company has applied IFRS 16 starting January 1, 2019, which affects the financial reporting but does not restate comparative information[83]. - The Group has adopted IFRS 16, which requires the capitalization of all leases, impacting the accounting treatment of previously classified operating leases[126]. - The initial application of IFRS 16 took effect on January 1, 2019, with the Group opting for a modified retrospective approach, not restating prior year comparative amounts[130]. - The Group recognized right-of-use assets amounting to RMB 381.525 million as of January 1, 2019, following the adoption of IFRS 16[157].

Financial Performance - Revenue for 2018 was RMB 4,615.7 million, a decrease of 18.9% from RMB 5,688.7 million in 2017[9] - Consolidated net profit for 2018 was RMB 88.2 million, up 2.9% from RMB 85.7 million in 2017[9] - Profit attributable to equity shareholders increased by 30.3% to RMB 79.1 million from RMB 60.7 million[9] - Basic and diluted earnings per share increased by 29.6% to RMB 1.27 from RMB 0.98[9] - The Group recorded a net foreign exchange gain of RMB 99.5 million in 2018, compared to a net foreign exchange loss of RMB 67.7 million in 2017, contributing to a decrease in finance costs[25] - The impairment loss for the year ended December 31, 2018, decreased by RMB 269.1 million compared to the previous year due to the initial application of IFRS 9[25] - The Group's consolidated net profit for 2018 increased despite the challenging global economic environment characterized by intensified protectionism and geopolitical conflicts[16] - The Group's revenue decreased by approximately RMB1,073.0 million or 18.9% to about RMB4,615.7 million compared to RMB5,688.7 million in 2017[43] - Revenue from the domestic market decreased by about RMB1,025.8 million or 31.3% to approximately RMB2,247.6 million, contributing about 48.7% of total revenue[43] - Revenue from the overseas market decreased by about RMB47.2 million or 2.0% to approximately RMB2,368.1 million, contributing about 51.3% of total revenue[43] Operational Efficiency - Adjusted gross profit margin improved to 15.4% from 13.8%, an increase of 1.6%[9] - The cost of sales decreased by about RMB725.0 million or 16.3% to approximately RMB3,714.7 million compared to RMB4,439.7 million in 2017[46] - The Group aims to improve service quality and operational efficiency to increase profitability and shareholder returns in the long run[26] - Selling expenses decreased by about RMB4.1 million or 4.3% to about RMB91.1 million, accounting for approximately 2.0% of operating revenue[50] - Administrative expenses decreased by about RMB405.7 million or 41.8% to about RMB565.9 million, accounting for approximately 12.3% of operating revenue[50] - Finance costs decreased by about RMB164.0 million or 70.4% to about RMB68.8 million, accounting for approximately 1.5% of operating revenue[50] Strategic Initiatives - The company emphasizes technology leadership and service value creation as part of its operational philosophy[12] - Future strategies include sustainable development and continuous improvement initiatives[12] - The Group plans to closely monitor market changes and make strategic adjustments to enhance operational efficiency and profitability[26] - The Group aims to enhance shareholder value through sustainable revenue and earnings growth and free cash flow generation[43] - The Group's management will continue to lead efforts in prudent business management amidst increasing financial market volatility[26] Market and Economic Conditions - The overall economic outlook remains challenging, but opportunities are expected to arise from the crisis in 2019[26] - The Chinese government has introduced stimulus policies, including tax reductions and improved financing channels, to support stable economic development[26] - The Group's business heavily depends on the performance of the construction and real estate industries, which are cyclical and significantly affected by economic fluctuations[66] Research and Development - The Group obtained 37 patents in 2018, including 1 invention patent and 36 utility model patents[42] - The Group's investment in research and development amounted to approximately HK$261 million as of December 31, 2018[61] - The company is committed to enhancing its product offerings through continuous research and development in curtain wall technology[78] Corporate Governance - The Company adopted the Corporate Governance Code provisions and complied with all code provisions for the year ended December 31, 2018, except for one deviation regarding the Chairman's attendance at the AGM[86] - The Board consists of nine members, including six executive directors and three independent non-executive directors[88] - The Company emphasizes high standards of corporate governance to enhance shareholder value and safeguard shareholder interests[86] - The Company has established various Board committees to delegate responsibilities as outlined in their respective terms of reference[88] Risk Management - The Group faces risks from foreign policy changes, currency fluctuations, and overall economic conditions, which could impact its operations[67] - Operational risks arise from inadequate internal processes and external events, which the Group aims to manage through refined management and activity-based costing[73] - Financial risk management strategies are detailed in note 29 of the Consolidated Financial Statements[73] Employee and Shareholder Relations - The Group provides competitive remuneration packages to attract and motivate employees, regularly reviewing and adjusting them according to market standards[152] - The Company emphasizes communication with institutional investors to enhance transparency and gather feedback[142] - The Company has a commitment to act in good faith and in the interests of shareholders at all times[88] Environmental Commitment - The Group is certified with ISO 14001 Environmental Management System to manage environmental performance[147] - The Group has established an Environmental Division to monitor and manage environmental performance and maintain communication with the Ministry of Environmental Protection[147] - The Group's commitment to environmental protection includes regular updates on relevant laws and regulations to ensure compliance[147]