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三和建筑集团(03822) - 2023 - 中期财报
2022-11-25 11:09
Financial Performance - Revenue for the first half of 2022/23 decreased by 42% to HKD 125 million compared to HKD 217 million in the same period last year[5] - The company recorded a net loss of HKD 87 million for the period, compared to a net loss of HKD 12 million in the previous year[5] - Revenue from customer contracts for the six months ended September 30, 2022, was approximately HKD 124.5 million, a decrease of 42.5% compared to HKD 217.0 million in 2021[36] - The gross loss for the period was HKD 71.7 million, compared to a gross profit of HKD 7.4 million in the previous year[36] - Operating loss for the six months ended September 30, 2022, was HKD 87.6 million, significantly higher than the operating loss of HKD 14.1 million in 2021[36] - The company reported a net loss of HKD 86,788,000 for the six months ended September 30, 2022, compared to a loss of HKD 12,293,000 for the same period in 2021, indicating a significant increase in losses[39] - The basic and diluted loss per share for the period was HKD 5.17, compared to HKD 0.73 in the previous year[36] - The company’s total equity decreased to HKD 445,311,000 as of September 30, 2022, down from HKD 618,693,000 as of September 30, 2021, reflecting a decline of about 28%[39] - Basic loss per share increased to HKD (5.17) from HKD (0.73), reflecting a significant decline in profitability[57] Cash Flow and Liquidity - Cash used in operating activities amounted to HKD 57,369,000 for the six months ended September 30, 2022, compared to HKD 10,525,000 in the previous year, reflecting a deterioration in cash flow[40] - The company generated cash inflow from financing activities of HKD 162,077,000, a substantial improvement from a cash outflow of HKD 18,946,000 in the same period last year[41] - Total cash and cash equivalents increased to HKD 227,964,000 as of September 30, 2022, up from HKD 131,483,000 at the end of the previous year[41] - Cash and bank balances increased to approximately HKD 228 million from HKD 128 million as of March 31, 2022[19] - The company’s cash and cash equivalents at the beginning of the period were HKD 127,928,000, compared to HKD 168,087,000 at the same time last year, indicating a decrease in available cash[41] Assets and Liabilities - The total assets as of September 30, 2022, amounted to HKD 887.4 million, an increase from HKD 804.2 million as of March 31, 2022[37] - The total liabilities increased to HKD 442.1 million as of September 30, 2022, compared to HKD 272.1 million as of March 31, 2022[38] - The net debt ratio as of September 30, 2022, was 15%, compared to zero as of March 31, 2022[21] - Total borrowings increased to HKD 195,184,000 from HKD 97,880,000, representing a growth of about 99%[63] Operational Highlights - The total value of major contracts on hand increased significantly to approximately HKD 1,023 million from about HKD 190 million[4] - The company expects the operating environment to improve in 2023 due to government development plans aimed at enhancing housing and land supply[14] - The company has secured two long-term credit facilities totaling HKD 200 million to support ongoing and new project bids[18] - The company took out long-term bank loans amounting to HKD 100,000,000 during the reporting period, compared to HKD 16,800,000 in the previous year[40] Expenses - Administrative expenses for the period were approximately HKD 20 million, similar to HKD 22 million in the previous year[16] - Total administrative expenses decreased to HKD 20,381,000 from HKD 21,598,000, reflecting a decline of about 5.6%[20] - The company’s interest paid increased to HKD 2,240,000 in the current period from HKD 500,000 in the previous year, indicating higher borrowing costs[40] - Financial expenses netted at HKD (1,940,000), up from HKD (704,000), indicating a rise in financial costs[53] Employee and Management Compensation - The company has approximately 240 employees as of September 30, 2022, down from 246 employees as of March 31, 2022[26] - Total remuneration for key management personnel was HKD 2,946,000 for the six months ended September 30, 2022, compared to HKD 2,910,000 in the previous year[70] Other Income and Expenses - Other income increased significantly to HKD 4,497,000 from HKD 59,000, primarily due to government subsidies related to the employment support scheme[52] - The company reported a current tax expense of HKD 631,000, up from HKD 34,000, indicating a significant increase in tax liabilities[55] - Rental expenses paid to related parties amounted to HKD 720,000 for 嘉勳地產控股有限公司, and HKD 100,000 for 長升發展有限公司 during the six months ended September 30, 2022[64] - The company reported a payable of HKD 100,000 to 三和修船廠有限公司 as of September 30, 2022[72]
三和建筑集团(03822) - 2022 - 年度财报
2022-07-11 22:13
Construction Industry Challenges - The construction industry faced significant challenges due to COVID-19, impacting both public and private sector projects[11] - The Group anticipates a recovery in the construction market, especially in the public sector, with more tenders available and increased contract prices compared to the previous year[40][47] - The Group faces acute risks from extreme weather events, which can disrupt construction and supply chains, particularly in coastal areas like Hong Kong[181] - Long-term risks include unstable supply of construction raw materials and adverse impacts on employee health due to climate change[188] Government Initiatives and Housing Development - The Hong Kong government plans to develop a "Northern Metropolis" over 20 years, covering approximately 300 square kilometers and accommodating one-third of the population[12] - The government aims to build around 330,000 public housing units by 2032 to address long waiting times, with 350 hectares of land secured for this purpose[12] - The Board supports the government in expediting public works projects and expanding infrastructure investments for Hong Kong's future development[19] Company Performance and Financials - The Group's revenue for the year increased by 2% to HK$363 million, compared to HK$356 million in the previous year, primarily driven by three major construction projects[26][28] - The Group recorded a gross loss of HK$58 million for the year, compared to a gross loss of HK$4 million in the previous year[49] - The net loss for the year was HK$101 million, significantly higher than the net loss of HK$34 million in the previous year, primarily due to the gross loss and fixed administrative expenses of HK$44 million[51] - The current ratio decreased to 1.1 times as of March 31, 2022, down from 1.5 times in 2021, indicating a decline in liquidity[56] - Total cash and bank balances decreased to approximately HK$128 million from HK$191 million in 2021, mainly due to operating losses incurred during the year[59] - The Group's total equity as of March 31, 2022, was approximately HK$528 million, down from HK$627 million in 2021[65] Project Contributions to Revenue - The East Kowloon Public Housing project contributed approximately 43% to the Group's revenue for the year, with a contract value of about HK$250 million[31][35] - The West Kowloon Cultural District project accounted for about 24% of the Group's revenue, with an original contract value of approximately HK$138 million, which has increased by over 30% due to re-measurements[36][42][43] - The Kwun Tong Commercial Building project contributed around 16% to the Group's revenue, with a contract value of approximately HK$161 million[38][45] Employee and Workforce Management - As of March 31, 2022, the Group had approximately 246 employees, a decrease from 285 in 2021[86] - The Group's average monthly employee turnover rate was 2.55% in Hong Kong, with male turnover at 2.40% and female turnover at 4.17%[197] - The Group's employee demographic shows 46% aged 46-60, 29% aged 32-45, and 20% aged 61 or above[195] - The remuneration package for employees includes salary, discretionary bonuses, and allowances, with performance appraisals influencing salary raises and promotions[86] Environmental, Social, and Governance (ESG) Initiatives - Sam Woo Construction Group Limited issued its Environmental, Social and Governance (ESG) report for the year from April 1, 2021, to March 31, 2022, focusing on sustainable development and stakeholder expectations[96] - The Board of Directors is responsible for the Group's ESG strategy and regularly monitors ESG targets and progress to ensure sustainable development[100] - The Group adheres to the "comply or explain" provisions of the ESG Reporting Guide, ensuring all recommended disclosures are included in the report[104] - The report includes quantitative data on greenhouse gas emissions, following international standards such as ISO 14064, and conducting energy and carbon audits[111] - The Group has committed to corporate social responsibility by donating to various charities and community organizations over the past year[97] Environmental Management and Sustainability - The Group has implemented ISO 14001 for environmental management and ISO 50001 for energy management, promoting efficient energy use and compliance with environmental regulations[91] - The Group's environmental policies aim to minimize adverse impacts on the environment and foster employee awareness of environmental responsibilities[87] - The Group promotes wastewater recycling by treating construction wastewater for reuse, reducing overall water consumption[154] - The Group has implemented comprehensive construction waste management plans to reduce hazardous waste generation and promote recycling[150] - The Group emphasizes water conservation and efficiency enhancement through strict management of water resources and promoting the use of recycled water[164] Risk Management and Compliance - The Group's measures to tackle extreme weather risks include adherence to safety guidelines issued by the Labour Department[182] - The Group has established employment policies that comply with relevant laws, ensuring no violations occurred during the reporting period[198] - There were no prosecutions for violations of environmental protection laws during the reporting period[133] Supplier and Stakeholder Relations - The Group maintains a pre-approved supplier list, assessing suppliers based on track record, pricing, market reputation, timely delivery, financial conditions, and after-sales service[80] - The Group has maintained good relationships with suppliers, subcontractors, and manufacturers, contributing to operational stability[82] - The Group emphasizes the importance of communication with stakeholders for business development and sustainable growth[118] - The Group maintains transparent communication with investors through regular meetings, emails, and announcements[120]
三和建筑集团(03822) - 2022 - 中期财报
2021-11-25 08:41
SAM WOO CONSTRUCTION GROUP LIMITED 三和建築集團有限公司 (於開曼群島註冊成立的有限公司) (股份代號 : 3822) 中期報告 2021/22 SAM WOO CONSTRUCTION GROUP LIMITED 三和建築集團有限公司 (Incorporated in the Cayman Islands with limited liability) (Stock code : 3822) INTERIM REPORT 2021/22 三和建築集團有限公司 中期報告 2021/22 三和建築集團有限公司(「本公司」)董事會(「董事會」)欣然呈列本公司及其附屬公司(統稱「本集 團」)截至2021年9月30日止六個月(「本期間」)的未經審核中期業績,連同2020年同期(「去年同 期」)的比較數字。該等資料應與截至2021年3月31日止年度的年度財務報表一併閱讀。 摘要 2021/22上半年 2020/21上半年 收入 217百萬港元 128百萬港元 本期間虧損 (12)百萬港元 (43)百萬港元 每股虧損 (0.73)港仙 (2.55)港仙 2021年9月30日 2021年3 ...
三和建筑集团(03822) - 2021 - 年度财报
2021-07-08 08:32
SAM WOO CONSTRUCTION GROUP LIMITED 三和建築集團有限公司 (Incorporated in the Cayman Islands with limited liability) (Stock code 股份代號 : 3822) (於開曼群島註冊成立的有限公司) ANNUAL REPORT 2021 年 報 Contents 目錄 | Corporate Information | 公司資料 | 2 | | --- | --- | --- | | Chairman's Statement | 主席報告 | 4 | | Management Discussion and Analysis | 管理層討論與分析 | 6 | | Environmental, Social and Governance Report | 環境、社會及管治報告 | 17 | | Corporate Governance Report | 企業管治報告 | 59 | | Profile of Directors and Senior Management | 董事及高級管理層履歷 | 70 | | Dir ...
三和建筑集团(03822) - 2021 - 中期财报
2020-12-03 08:32
中期報告 2020/21 SAM WOO CONSTRUCTION GROUP LIMITED 三和建築集團有限公司 (於開曼群島註冊成立的有限公司) (股份代號 : 3822) | | | | 頁次 | | --- | | 管理層討論與分析 | | 3 | | --- | --- | --- | | 其他資料 | | 8 | | 簡明綜合中期全面收入報表 | | 11 | | 簡明綜合中期資產負債表 | | 12 | | 簡明綜合中期權益變動表 | | 14 | | 簡明綜合中期現金流量表 | | 15 | | 簡明綜合中期財務資料附註 | | 17 | 三和建築集團有限公司 中期報告 2020/21 三和建築集團有限公司(「本公司」)董事會(「董事會」)欣然呈列本公司及其附屬公司(統稱「本集 團」)截至2020年9月30日止六個月(「本期間」)的未經審核中期業績,連同2019年同期(「去年同 期」)的比較數字。該等資料應與截至2020年3月31日止年度的年度財務報表一併閱讀。 摘要 | | 2020/21上半年 | 2019/20上半年 | | --- | --- | --- | | 收入 | 128百萬 ...
三和建筑集团(03822) - 2020 - 年度财报
2020-07-20 08:34
SAM WOO CONSTRUCTION GROUP LIMITED 三和建築集團有限公司 (Incorporated in the Cayman Islands with limited liability) (Stock code 股份代號 : 3822) (於開曼群島註冊成立的有限公司) ANNUAL REPORT 2020 年 報 Contents 目錄 | Corporate Information | 公司資料 | 2 | | --- | --- | --- | | Chairman's Statement | 主席報告 | 4 | | Management Discussion and Analysis | 管理層討論與分析 | 6 | | Environmental, Social and Governance Report | 環境、社會及管治報告 | 16 | | Corporate Governance Report | 企業管治報告 | 52 | | Profile of Directors and Senior Management | 董事及高級管理層履歷 | 63 | | Dir ...
三和建筑集团(03822) - 2020 - 中期财报
2019-11-29 08:32
SAM WOO CONSTRUCTION GROUP LIMITED 三和建築集團有限公司 (於開曼群島註冊成立的有限公司) (股份代號 : 3822) 中期報告 2019/20 | 管理層討論與分析 | 3 | | --- | --- | | 其他資料 7 | | | 簡明綜合中期全面收入報表 10 | | | 簡明綜合中期資產負債表 | 11 | | 簡明綜合中期權益變動表 | 13 | | 簡明綜合中期現金流量表 | 14 | | 簡明綜合中期財務資料附註 | 16 | 三和建築集團有限公司(「本公司」)董事會(「董事會」)欣然呈列本公司及其附屬公司(統稱「本集 團」)截至2019年9月30日止六個月(「本期間」)的未經審核中期業績,連同2018年同期(「去年同 期」)的比較數字。該等資料應與截至2019年3月31日止年度的年度財務報表一併閱讀。 摘要 | | 2019/20上半年 | 2018/19上半年 | | --- | --- | --- | | 收入 | 286百萬港元 | 243百萬港元 | | 本期間溢利╱(虧損) | 4百萬港元 | (4)百萬港元 | | 每股盈利╱(虧損) | 0.2 ...
三和建筑集团(03822) - 2019 - 年度财报
2019-07-12 10:17
SAM WOO CONSTRUCTION GROUP LIMITED 三和建築集團有限公司 (Incorporated in the Cayman Islands with limited liability) (Stock code 股份代號 : 3822) (於開曼群島註冊成立的有限公司) 2019 Annual Report 年報 Contents 目錄 | Corporate Information | 公司資料 | 2 | | --- | --- | --- | | Chairman's Statement | 主席報告 | 4 | | Management Discussion and Analysis | 管理層討論與分析 | 6 | | Environmental, Social and Governance Report | 環境、社會及管治報告 | 17 | | Corporate Governance Report | 企業管治報告 | 46 | | Profile of Directors and Senior Management | 董事及高級管理層履歷 | 57 | | Dire ...