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，概不對因本公告 全部或任何部份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。 ROYAL DELUXE HOLDINGS LIMITED 御佳控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：3789） 截至二零二�年三月三十一日止年度之年度�績�告 財務摘要 1 • 於截至二零二五年三月三十一日止年度收益約為731.0百萬港元，較截 至二零二四年三月三十一日止年度減少約6.7%。 • 於截至二零二五年三月三十一日止年度毛利約為41.5百萬港元，較截至 二零二四年三月三十一日止年度減少約37.5%。 • 毛利率由截至二零二四年三月三十一日止年度約8.5%減少至截至二零 二五年三月三十一日止年度約5.7%。 • 於截至二零二五年三月三十一日止年度本公司擁有人應佔虧損約為6.0 百萬港元，較於截至二零二四年三月三十一日止年度本公司擁有人應 佔溢利減少約161.9%。 • 本公司擁有人應佔每股基本虧損於截至二零二五年三月三十一日止年 度約為0.50港仙，而本公司擁有人應佔每 ...

Financial Performance - Revenue for the six months ended September 30, 2024, was HKD 335.631 million, a decrease of 7.0% compared to HKD 361.001 million in the same period of 2023[11]. - Gross profit for the same period was HKD 19.326 million, down 43.6% from HKD 34.249 million year-on-year[24]. - The company reported a loss attributable to owners of HKD 2.920 million, a significant decline of 138.6% compared to a profit of HKD 7.563 million in the previous year[24]. - Total revenue for the six months ended September 30, 2024, was HKD 335,631,000, a decrease of 7.0% from HKD 361,001,000 in the same period of 2023[48]. - Gross profit for the same period was HKD 19,326,000, down 43.5% from HKD 34,249,000 year-on-year[48]. - The company reported a net loss of HKD 2,920,000 for the period, compared to a profit of HKD 7,563,000 in the same period last year[48]. - Basic and diluted loss per share was HKD (0.24), compared to earnings of HKD 0.63 per share in the previous year[48]. - The company reported a loss attributable to shareholders of approximately 2,920,000 HKD for the six months ended September 30, 2024, compared to a profit of 7,563,000 HKD for the same period in 2023[88]. Cash and Liquidity - Cash and cash equivalents decreased by 30.1% to HKD 61.684 million from HKD 88.217 million as of March 31, 2024[12]. - The net cash used in operating activities was HKD 15,758,000, compared to HKD 6,786,000 in the previous year, indicating a significant increase in cash outflow[30]. - Cash and cash equivalents decreased to HKD 61,684,000 from HKD 58,740,000 year-on-year, reflecting a net decrease of HKD 16,503,000[30]. - As of September 30, 2024, the group's bank balance and cash total approximately HKD 61.7 million, down from HKD 88.2 million as of March 31, 2024[137]. - The group continues to manage cash reserves prudently and maintain a strong liquidity position[139]. Assets and Liabilities - Total assets decreased slightly to HKD 314.330 million from HKD 317.745 million[27]. - The company's total assets as of September 30, 2024, were approximately HKD 458.2 million, down from about HKD 480.0 million as of March 31, 2024[115]. - The company's total liabilities decreased to approximately HKD 144.5 million as of September 30, 2024, from about HKD 163.4 million as of March 31, 2024[115]. - The company had a total equity of HKD 314,420,000 as of September 30, 2024, compared to HKD 316,627,000 at the end of the previous fiscal year[51]. Operational Costs - The company plans to focus on cost reduction strategies in response to the declining gross profit margin, which fell to 5.8% from 9.5% year-on-year[11]. - Administrative and other operating expenses increased to HKD 29,308,000 from HKD 28,339,000, indicating a rise in operational costs[48]. - Total employee benefits expenses increased to HKD 43,562,000 from HKD 38,710,000, representing a rise of 12.0%[62]. - The total employee cost for the six months ended September 30, 2024, is approximately HKD 19.7 million, an increase from HKD 18.8 million for the same period in 2023[147]. Contracts and Revenue Sources - Major customers contributed the following revenues: Customer A: HKD 89,048,000, Customer B: HKD 80,992,000, Customer C: HKD 67,629,000, Customer D: HKD 41,012,000[60]. - The total contract backlog value as of September 30, 2024, was approximately HKD 763.3 million, a decrease of about HKD 250.8 million or 24.7% from approximately HKD 1,014.1 million as of March 31, 2024[125]. - The company secured two new contracts with a total contract value of approximately 70.5 million HKD, all of which commenced within the six months ended September 30, 2024[105]. Corporate Governance - The company has established an audit committee, chaired by an independent non-executive director, ensuring compliance with corporate governance codes[190]. - The company has adhered to the corporate governance code provisions during the six-month period ending September 30, 2024[188]. - The audit committee consists of at least three members, including an independent non-executive director with appropriate professional qualifications or accounting-related financial management expertise[191]. Market Conditions and Strategic Focus - The global market remains uncertain due to high interest rates and anticipated economic growth slowdown[174]. - The construction industry continues to face challenges such as labor shortages, soaring inflation, and interest costs, despite the gradual recovery of the economic environment in China and Hong Kong[194]. - The company has maintained a strategy to optimize its asset-liability levels and keep financial costs at a minimum while providing high-quality and flexible template solutions[195]. - The company focuses on expanding its template design and construction capabilities to create more business and new market opportunities in the long term[195].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何 部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 ROYAL DELUXE HOLDINGS LIMITED 御佳控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：3789） 截至二零二四年九月三十日止六個月 之未經審核中期業績公告 財務摘要 | --- | --- | --- | --- | |-------------------------------|---------------------------------------------------------------|------------------------------------|------------| | | 截至九月三十日止六個月 \n千港元 \n二零二四年 （未經審核） | 千港元 \n二零二三年 （未經審核） | 百分比變動 | | 財務摘要 | | | | | 收益 | 335,631 | 361,001 | (7.0%) | | 毛利 | 19,32 ...

Financial Performance - For the fiscal year ending March 31, 2024, the company's revenue was approximately HKD 783.6 million, an increase of about 11.6% compared to HKD 702.1 million for the fiscal year ending March 31, 2023[3] - The gross profit for the fiscal year ending March 31, 2024, was approximately HKD 66.5 million, reflecting a slight increase of about 1.3% from HKD 65.6 million in the previous year[3] - The profit attributable to the company's owners for the fiscal year ending March 31, 2024, was approximately HKD 9.8 million, a decrease of about 54.4% from HKD 21.4 million in the previous year[3] - Basic earnings per share attributable to the company's owners for the fiscal year ending March 31, 2024, was approximately HKD 0.81, down from HKD 1.78 in the previous year[3] - The net profit for the fiscal year 2024 was approximately HKD 9.8 million, down from HKD 21.4 million in the fiscal year 2023[47] Revenue and Contracts - Revenue from customer contracts for the year 2024 reached HKD 783,575,000, an increase of 11.6% compared to HKD 702,112,000 in 2023[28] - The company secured eight new contracts in fiscal year 2024, with a total contract value of approximately HKD 1,067.4 million, representing an increase of about 480.7% from HKD 183.8 million in fiscal year 2023[49] - The total contract backlog as of March 31, 2024, was estimated at approximately HKD 1,072.1 million, an increase of about 140.7% from HKD 445.4 million in the previous fiscal year[49] Expenses and Costs - Direct costs for FY2024 were approximately HKD 717.1 million, an increase of about HKD 80.6 million or 12.7% from approximately HKD 636.5 million in FY2023, consistent with the revenue increase[55] - Employee benefits expenses totaled HKD 88,376,000 in 2024, slightly down from HKD 89,203,000 in 2023, indicating a decrease of 0.9%[33] - The company reported a total of HKD 51.5 million in employee benefits included in direct costs for fiscal year 2024, compared to HKD 49.1 million in fiscal year 2023[36] - Administrative and other operating expenses decreased by approximately HKD 7.6 million or 11.6% from HKD 64.7 million in FY2023 to HKD 57.1 million in FY2024, mainly due to reduced legal and professional fees[58] Assets and Liabilities - Total assets as of March 31, 2024, were approximately HKD 412.1 million, compared to HKD 328.3 million as of March 31, 2023[6] - Current liabilities increased to approximately HKD 162.3 million as of March 31, 2024, from HKD 97.6 million in the previous year[6] - The company's net asset value as of March 31, 2024, was approximately HKD 316.6 million, compared to HKD 306.9 million as of March 31, 2023[7] - Trade receivables increased to HKD 68.2 million in fiscal year 2024 from HKD 41.6 million in fiscal year 2023[40] - Other payables and accrued expenses increased from approximately HKD 43.5 million as of March 31, 2023, to approximately HKD 60.2 million as of March 31, 2024, mainly due to increased construction work[63] Dividends and Shareholder Returns - The board of directors did not recommend the payment of any final dividend for the fiscal year ending March 31, 2024[3] - The company did not propose any dividends for the fiscal year ending March 31, 2024, consistent with the previous year[37] - The company did not recommend any final dividend for the fiscal year 2024[89] Corporate Governance - The company emphasizes high standards of corporate governance to maintain stakeholder trust[91] - The board of directors has fully complied with the corporate governance code applicable for the fiscal year 2024[93] - The audit committee consists of independent non-executive directors, ensuring compliance with listing rules[95] - The company has adopted the corporate governance principles outlined in the listing rules[93] Economic Outlook and Strategy - The company maintains a cautious optimism regarding the economic outlook for Hong Kong in 2025, with ongoing success in securing new contracts and tenders[64] - The company aims to optimize its capital structure and reduce borrowing to maintain financing costs at a minimum level while focusing on providing quality and flexible solutions[66]

Financial Performance - Revenue for the six months ended September 30, 2023, was HKD 361,001,000, representing an increase of 8.9% compared to HKD 331,466,000 in the same period of 2022[9] - Gross profit increased by 21.1% to HKD 34,249,000, with a gross margin of 9.5%, up from 8.5% in the previous year[9] - Profit attributable to owners of the company decreased by 59.4% to HKD 7,563,000, down from HKD 18,651,000 in the prior year[9] - Basic and diluted earnings per share for the period were HKD 0.63, down from HKD 1.55 in the same period last year, reflecting a 59.4% decline[11] - The profit before tax for the six months ended September 30, 2023, was 7,563 thousand HKD, down 59.5% from 18,651 thousand HKD in 2022[43] - Other income for the six months ended September 30, 2023, totaled 5,804 thousand HKD, a decrease of 72.2% from 20,882 thousand HKD in 2022[33] - The company reported a net loss from other income and gains of HKD 5,330,000, compared to a gain of HKD 20,853,000 in the previous year[12] Cash and Liquidity - Cash and cash equivalents as of September 30, 2023, were HKD 58,740,000, a decrease of 14.8% from HKD 68,964,000 at the end of March 2023[9] - The net cash used in operating activities for the six months ended September 30, 2023, was HKD 6,786,000, a significant improvement from HKD 16,130,000 in the previous year, reflecting a reduction of 58.0%[19] - The company’s cash and cash equivalents decreased by HKD 7,202,000, ending at HKD 58,740,000 compared to HKD 46,758,000 at the end of the previous year[19] - The company incurred a net cash outflow from financing activities of HKD 2,841,000 for the six months ended September 30, 2023, compared to HKD 3,505,000 in the previous year[19] Assets and Liabilities - Total assets as of September 30, 2023, were HKD 357,484,000, compared to HKD 328,257,000 as of March 31, 2023[15] - Total liabilities increased, with bank borrowings at HKD 13,325,000, down 17.6% from HKD 16,166,000[9] - The company’s total liabilities decreased from HKD 285,500,000 as of March 31, 2023, to HKD 306,857,000 as of September 30, 2023[16] - As of September 30, 2023, inventory decreased to HKD 14,325,000 from HKD 17,411,000 as of March 31, 2023, representing a decline of approximately 17.5%[11] - Trade receivables increased significantly to HKD 68,154,000 from HKD 41,620,000, marking a growth of approximately 63.7%[12] - Contract assets rose to HKD 211,570,000 from HKD 198,470,000, reflecting an increase of about 6.6%[48] - Trade and other payables increased to HKD 95,575,000 from HKD 76,331,000, indicating a rise of approximately 25.2%[50] Employee and Operational Costs - The total employee benefit expenses amounted to 38,710 thousand HKD in 2023, slightly down from 39,579 thousand HKD in 2022, a decrease of 2.2%[36] - The total employee costs for the six months ending September 30, 2023, amounted to approximately HKD 18.8 million, a decrease from HKD 19.6 million for the same period in 2022[96] - The company’s short-term employee benefits decreased to HKD 10,702,000 from HKD 12,258,000, a decline of about 12.7%[63] Corporate Governance and Compliance - The company has adopted the standard code of conduct for securities trading as per the listing rules, and all directors complied with these regulations during the reporting period[116] - The company has complied with the corporate governance code and maintained high standards of corporate governance practices[126] - The audit committee has reviewed the interim financial statements for the six months ended September 30, 2023, which are unaudited but comply with applicable accounting standards[130] Shareholder Information - As of September 30, 2023, Mr. Wang Qiming and Ms. Zhou each hold 850,800,000 shares, representing 70.9% of the company's equity through controlled entities[104] - Mr. Wang Qiming directly owns 66.8% of the company, while K C Limited holds 49,200,000 shares, accounting for 4.1%[107] - The company did not declare an interim dividend for the six months ended September 30, 2023, consistent with the previous year[40] - The group has no plans for interim dividends for the six months ending September 30, 2023, consistent with the previous year[92] Future Outlook and Strategic Initiatives - The company has not reported any new product developments or market expansions during this period[21] - Management indicates that labor shortages remain a significant issue, particularly affecting project operations in the construction industry[100] - Management is focused on reducing leverage levels due to ongoing high-interest rate risks, despite positive operational outlooks from border reopenings[84] New Share Plans - The company has adopted a new share option plan (2023 Share Option Plan) and a share award plan (2023 Share Award Plan) effective from September 19, 2023, replacing the previous 2017 Share Option Plan[120] - The total number of shares that may be issued under the 2023 Share Option Plan is capped at 120,000,000 shares, representing 10% of the company's issued shares as of September 30, 2023[121] - The number of shares available for service providers under the 2023 Share Option Plan is limited to 12,000,000 shares, which is 1% of the company's issued shares as of September 30, 2023[125] - Participants in the 2023 Share Option Plan must pay HKD 1.0 to accept the share options, while no payment is required for the share awards under the 2023 Share Award Plan[124] - The vesting period for options granted under the share plans is generally not less than 12 months[122] - The 2023 Share Option Plan and Share Award Plan are effective for a period of 10 years from the adoption date unless otherwise amended or terminated[120]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何 部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 ROYAL DELUXE HOLDINGS LIMITED 御 佳 控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） 3789 （股份代號： ） 截至二零二三年九月三十日止六個月 之未經審核中期業績公告 財務摘要 截至九月三十日止六個月 業績 二零二三年 二零二二年 千港元 千港元 百分比變動 （未經審核） （未經審核） 361,001 331,466 8.9% 收益 34,249 28,274 21.1% 毛利 9.5% 8.5% 11.8% 毛利率 7,563 18,651 (59.4%) 本公司擁有人應佔溢利 每股盈利（港仙） 0.63 1.55 (59.4%) ...

ROYAL DELUXE Royal Deluxe Holdings Limited Royal Deluxe Holdings Limited (Incorporated in the Cayman Islands with limited liability) Stock code: 3789 HOLDINGS LIMITED ...

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，概不對�本公告全部或任何 部份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。 ROYAL DELUXE HOLDINGS LIMITED 御 佳 控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） 3789 （股份代號： ） 截至二零二三年三月三十一日止年度之年度業績公告 財務摘要 • 702.1 於截至二零二三年三月三十一日止年度收益約為 百萬港元，較截至二零 49.3% 二二年三月三十一日止年度增加約 。 • 65.6 於截至二零二三年三月三十一日止年度毛利約為 百萬港元，較截至二零 5.9% 二二年三月三十一日止年度減少約 。 • 14.8% 毛利率由截至二零二二年三月三十一日止年度約 減少至截至二零二三 9.3% 年三月三十一日止年度約 。 • 21.4 於截至二零二三年三月三十一日止年度本公司擁有人應佔溢利約為 百萬 ...

Financial Performance - Revenue for the six months ended September 30, 2022, was HKD 331,466,000, representing a 20.9% increase compared to HKD 274,260,000 in the same period of 2021[11] - Gross profit decreased to HKD 28,274,000, down 36.3% from HKD 44,365,000, resulting in a gross margin of 8.5%, down from 16.2%[11] - Profit attributable to owners of the company increased by 82.6% to HKD 18,651,000, compared to HKD 10,214,000 in the previous year[11] - Basic and diluted earnings per share rose to HKD 1.55, an increase of 82.4% from HKD 0.85[13] - Other income for the six months ended September 30, 2022, totaled HKD 20,853,000, compared to HKD 3,544,000 for the same period in 2021, representing a significant increase[41] - The pre-tax profit for the six months ended September 30, 2022, was HKD 18,651,000, compared to HKD 10,214,000 for the same period in 2021, indicating a growth of approximately 83.5%[53] - The company's profit attributable to owners increased by approximately HKD 8.5 million or 82.6% to about HKD 18.7 million, with a net profit margin rising from 3.7% to 5.6%[91] Cash Flow and Liquidity - Cash and cash equivalents decreased by 29.4% to HKD 49,776,000 from HKD 70,532,000[15] - The current ratio was 2.4, slightly down from 2.6, indicating a decrease in liquidity[15] - The net cash used in operating activities for the six months ended September 30, 2022, was HKD (16,130), an improvement from HKD (38,494) in the same period last year, indicating a reduction of about 58%[25] - The company's financing activities resulted in a net cash outflow of HKD (3,505) for the six months ended September 30, 2022, compared to HKD (14,666) in the same period last year, showing a significant reduction in cash outflow[25] - The group's cash and bank balances totaled approximately HKD 49.8 million as of September 30, 2022, down from approximately HKD 70.5 million as of March 31, 2022[93] Assets and Liabilities - Total assets increased to HKD 397,809,000, compared to HKD 335,604,000 as of March 31, 2022[20] - The company reported a net asset value of HKD 304,094,000, an increase from HKD 285,445,000[20] - The total equity as of September 30, 2022, increased to HKD 304,151, up from HKD 288,936 as of March 31, 2022, representing a growth of approximately 5.5%[23] - The company’s total liabilities decreased from HKD 278,722 as of March 31, 2022, to HKD 285,500 as of March 31, 2023, indicating a slight increase in liabilities[23] Operational Efficiency - Employee benefit expenses totaled HKD 39,579,000 for the six months ended September 30, 2022, down from HKD 47,182,000 in the same period of 2021, reflecting a decrease of approximately 16.5%[44] - Administrative and other operating expenses decreased by approximately HKD 4.6 million or 13.7% to about HKD 28.6 million[88] - The total employee costs for the six months ended September 30, 2022, amounted to approximately HKD 19.6 million, a decrease from HKD 23.6 million for the same period in 2021[114] Market and Strategic Focus - The company plans to focus on expanding its market presence and enhancing product offerings in the upcoming periods[19] - The group remains optimistic about long-term growth opportunities in the construction market due to government policies and infrastructure investments[117] - The group plans to continue applying innovative and cost-effective construction methods to enhance operational efficiency and profitability[117] Shareholder Information - The company did not declare an interim dividend for the six months ended September 30, 2022, consistent with the previous year[49] - The board does not recommend an interim dividend for the six months ended September 30, 2022, consistent with the previous year[112] - As of September 30, 2022, Wang K M holds 801,600,000 shares, representing 66.8% of the company's equity[125] - K C Limited owns 49,200,000 shares, accounting for 4.1% of the company's equity[125] Compliance and Governance - The company has adopted the corporate governance code principles and has complied with the code provisions during the reporting period[138] - The company has maintained high levels of corporate governance to ensure stakeholder trust and protect their interests[138] - The Audit Committee was established on January 17, 2017, with independent non-executive director Mr. Kwan Ping Man as the chairman[139] - The Audit Committee reviewed the unaudited condensed consolidated interim financial statements for the six months ended September 30, 2022, ensuring compliance with applicable accounting standards and listing rules[139] - The Audit Committee confirmed that the financial statements provided adequate disclosures and adhered to the relevant regulations[139]

Financial Performance - For the fiscal year 2022, the company's revenue decreased by approximately 45.9% to about HKD 470.4 million from approximately HKD 870.2 million in the fiscal year 2021[23]. - Despite the revenue decline, the company recorded a gross profit increase of about 5.4%, rising from approximately HKD 66.1 million to about HKD 69.7 million[23]. - The profit attributable to the company's owners was HKD 6.8 million, down 81.7% from HKD 37.1 million in the previous year[51]. - The gross profit margin increased to 14.8%, compared to 7.6% in the previous year, reflecting a 94.7% increase[51]. - The interest coverage ratio decreased to 9.4 times, down 52.8% from 19.9 times in the previous year[51]. - The company's return on equity was 2.4%, a decrease of 82.0% from 13.3% in the previous year[51]. - Administrative and other operating expenses decreased from approximately HKD 75.6 million in the fiscal year 2021 to approximately HKD 65.4 million in the fiscal year 2022, a reduction of about 13.5%[60]. - Financing costs decreased from approximately HKD 2.0 million in the fiscal year 2021 to approximately HKD 1.2 million in the fiscal year 2022, a decline of about 40.1%[61]. - Income tax expenses increased from approximately HKD 1.5 million in the fiscal year 2021 to approximately HKD 3.5 million in the fiscal year 2022, primarily due to the absence of non-recurring tax exemptions[62]. - The total employee cost for the fiscal year 2022, including director remuneration and mandatory provident fund contributions, was approximately HKD 42.7 million, a decrease from HKD 47.5 million in the previous year[96]. Contract and Project Management - The total value of new contracts awarded in fiscal year 2022 was approximately HKD 151.5 million, a decrease of about 80.6% compared to HKD 791.1 million in the previous year[25]. - As of March 31, 2022, the value of projects on hand was approximately HKD 789.5 million, down about 8.4% from HKD 861.5 million a year earlier[25]. - The estimated total contract balance as of March 31, 2022, was approximately HKD 789.5 million, down 8.4% from HKD 861.5 million in the previous year[54]. - The company secured ten new contracts with a total contract value of approximately HKD 151.5 million, a decrease of 80.6% from HKD 791.1 million in the previous fiscal year[54]. - Project delays, particularly due to COVID-19, have significantly impacted the group's cash flow and project completion timelines[107]. - The group faced delays in major subcontracting contracts due to the ongoing COVID-19 pandemic, which is expected to continue impacting project progress in the foreseeable future[97]. - The company anticipates stable performance in subcontracting projects over the next few years due to the current project backlog[25]. Market Outlook and Economic Conditions - The company expects the Hong Kong economy to gradually recover, given the progress in controlling the pandemic in China and Hong Kong[26]. - The construction labor market remains tight, facing challenges such as global interest rate hikes and ongoing tensions in US-China relations, which may increase market volatility and uncertainty[26]. - The group expects project progress to accelerate as economic activities recover, despite ongoing uncertainties in the private property market and competitive bidding[109]. - The company remains optimistic about long-term sustainable growth opportunities in the construction market due to the Hong Kong government's land and housing policies[29]. Governance and Management - The company has a strong governance structure with independent non-executive directors serving on various committees, including the audit and risk committees[125][126]. - The company is committed to environmental, social, and governance (ESG) practices, with dedicated committees overseeing these areas[125]. - The board consists of two executive directors and three independent non-executive directors, ensuring compliance with the requirement that independent non-executive directors represent at least one-third of the board[151]. - The company has adopted the corporate governance code principles and has fully complied with the corporate governance code during the fiscal year 2022[147]. - The roles of the chairman and the CEO are separated to avoid power concentration, with Mr. Wang serving as chairman and Ms. Zhou as CEO during the fiscal year 2022[157]. - The company has arranged appropriate insurance coverage for directors and senior management against potential legal claims arising from company activities, with annual reviews of the insurance coverage[158]. - The independent non-executive directors play a crucial role in providing impartial opinions on the company's strategy, performance, and control issues, ensuring the interests of all shareholders are considered[159]. Environmental and Social Responsibility - The group is committed to environmental protection and has implemented various measures to reduce its carbon footprint during construction projects[98]. - The group aims to reduce energy consumption and carbon footprint by adjusting air conditioning temperatures and increasing natural lighting[101]. - Future guidance indicates a commitment to sustainable practices, with a target of reducing carbon emissions by I% over the next five years[134]. Challenges and Risks - The construction industry faces risks from external factors such as political and economic conditions in Hong Kong, government project budgets, and material price increases[103]. - The group’s financial performance may be adversely affected if it fails to secure new contracts after completing existing ones, due to the highly competitive nature of the industry[104]. - The group maintains good relationships with subcontractors to address labor shortages and aging workforce issues, planning for increased labor supply through innovative construction methods[108]. - The group does not face significant foreign exchange risks as most transactions are denominated in Hong Kong dollars[85].