Revenue and Profitability - Revenue for the six months ended June 30, 2024, was HKD 195,984, a decrease of 20% compared to HKD 244,882 for the same period in 2023[1] - Gross profit increased to HKD 50,377, up 7% from HKD 46,842 year-on-year[1] - Profit before tax rose to HKD 36,652, representing a 29% increase from HKD 28,341 in the previous year[2] - Net profit for the period was HKD 30,593, an increase of 30% compared to HKD 23,587 in the same period last year[2] - Basic and diluted earnings per share were both HKD 3.1, up from HKD 2.4 in the prior year[2] - The company reported a profit attributable to owners of HKD 30,593,000 for the six months ended June 30, 2024, compared to HKD 23,587,000 in 2023, reflecting a 30% increase[20] - Basic earnings per share increased to HKD 30.59 from HKD 23.59, a growth of 30%[20] Dividends - The board recommended an interim dividend of HKD 2.0 and a special dividend of HKD 4.0 per share[1] - The interim dividend proposed is HKD 2.0 per share, totaling HKD 20,020,000, and a special dividend of HKD 4.0 per share, totaling HKD 40,040,000[19] - The board proposed an interim dividend of HKD 0.02 per share and a special dividend of HKD 0.04 per share, totaling HKD 20.02 million and HKD 40.04 million respectively, with a dividend payout ratio of approximately 196%[42] Assets and Liabilities - Total assets as of June 30, 2024, were HKD 449,948, slightly up from HKD 446,003 as of December 31, 2023[3] - Current liabilities decreased to HKD 161,750 from HKD 168,598 at the end of the previous year[3] - The company's net asset value increased to HKD 324,291 from HKD 313,567 year-on-year[4] - Trade receivables decreased to HKD 51.986 million from HKD 99.508 million, reflecting a significant reduction in outstanding amounts[23] - The aging analysis of trade receivables shows that amounts overdue by more than one year decreased to HKD 2.726 million from HKD 5.298 million[23] - As of June 30, 2024, the group had no bank borrowings, resulting in a debt-to-equity ratio of zero[35] Cash and Investments - Cash and cash equivalents amounted to approximately HKD 66.9 million, an increase of about HKD 11.0 million from approximately HKD 55.9 million as of December 31, 2023[35] - The group has fixed deposits exceeding three months totaling HKD 241.1 million, up from HKD 193.0 million as of December 31, 2023, with interest rates ranging from 3.5% to 4.59%[35] Operational Performance - Major customer I contributed HKD 127,433,000 to revenue, up from HKD 72,141,000 in the previous year, representing a 77% increase[11] - Major customer II's revenue decreased significantly to HKD 32,438,000 from HKD 165,383,000, a decline of 80%[11] - Bank interest income increased to HKD 5,425,000 from HKD 2,010,000, marking a 170% rise[13] - The company incurred a depreciation expense of HKD 722,000 for property, plant, and equipment, slightly down from HKD 727,000 in the previous year[14] - Total employee benefits expenses, including directors' remuneration, amounted to HKD 36,102,000, an increase from HKD 34,887,000[15] - The company recognized share-based payment expenses of HKD 104,000 for the six months ended June 30, 2024, compared to zero in the same period last year[18] - Employee benefits expenses totaled approximately HKD 36.1 million, compared to HKD 34.9 million in the previous period, indicating relative stability[36] Future Outlook - The company continues to focus on providing comprehensive design and construction solutions for facade and curtain wall engineering in Hong Kong[5] - The company is currently bidding for two large-scale facade projects with an estimated total contract value of HKD 65.7 million[31] - The company holds key projects with an estimated contract balance of HKD 369.3 million as of June 30, 2024[30] - The accounts receivable turnover days increased to approximately 70.3 days from about 52.8 days at the end of 2023[34] - The company plans to enhance project quality, safety, and cost control while maintaining operational efficiency in a challenging market environment[29]

Financial Performance - The company recorded revenue of approximately HKD 496.6 million for the fiscal year 2023, an increase of approximately HKD 113.8 million or 29.7% compared to HKD 382.8 million in fiscal year 2022[16]. - The group's net profit for the fiscal year 2023 reached approximately HKD 57.0 million, an increase of about HKD 13.6 million or 31.3% from approximately HKD 43.4 million in 2022[25]. - The group's gross profit increased by approximately HKD 9.4 million or 9.6% to about HKD 106.9 million for the fiscal year 2023, with a gross margin of 21.5% compared to 25.5% in 2022[22]. - Total revenue for the year ended December 31, 2023, was HKD 496,631,000, an increase of 29.7% from HKD 382,786,000 in 2022[158]. - Net profit for the year was HKD 57,003,000, a rise of 31.2% compared to HKD 43,404,000 in 2022[158]. - Basic and diluted earnings per share for 2023 were both HKD 5.7, compared to HKD 4.3 in 2022, reflecting a 32.6% increase[158]. - Total comprehensive income for the year was HKD 56,958,000, up 31.6% from HKD 43,296,000 in the prior year[158]. Revenue Sources - Design and construction projects accounted for approximately HKD 477.5 million of total revenue, representing about 96.2% of total revenue, while maintenance and repair services generated approximately HKD 19.1 million[16]. - The group recognized revenue of HKD 477,534,000 from design and build contracts for the year ended December 31, 2023[143]. Operational Efficiency and Cost Management - The company will maintain a cautious approach to monitor the market and implement cost control measures to safeguard profitability amid fierce competition and uncertain market outlook[7]. - Administrative and other operating expenses decreased by approximately HKD 5.5 million or 11.1% to about HKD 44.0 million in 2023, primarily due to reduced employee benefits expenses[23]. - Financial costs decreased to HKD 713,000 from HKD 880,000, a decline of 19%[158]. Strategic Initiatives - The company plans to diversify its operations by acquiring exclusive mining rights for a coal mine in Mongolia, with expected revenue generation starting in the first half of fiscal year 2025[15]. - The company is committed to improving operational efficiency while seizing opportunities in both construction and mining businesses[15]. - The company continues to focus on its core construction business while exploring new opportunities for growth through acquisitions and diversification[173]. Market Conditions and Risks - The construction industry faces challenges such as labor competition, rising material costs, and unstable transportation costs[13]. - The company faces significant risks related to overall economic and market conditions, which can impact project profitability and competitiveness[50]. - The company has faced intense competition in new project bidding, with no projects secured that are expected to continue beyond the first quarter of 2025[7]. Shareholder Returns - The board has proposed a final dividend of HKD 0.02 per share for the fiscal year 2023[9]. - The company approved a total dividend of HKD 33,000,000 for the year, compared to HKD 11,000,000 in 2022, an increase of 200%[162]. - The company proposed a final dividend of HKD 0.02 per share, totaling HKD 20 million, with a dividend payout ratio of approximately 35.1%[86]. Corporate Governance - The board of directors consists of two executive directors, one non-executive director, and three independent non-executive directors, ensuring strong independence[56]. - The company has adopted the corporate governance code and has complied with it during the fiscal year 2023[56]. - The board is responsible for assessing the company's ability to continue as a going concern and disclosing relevant matters accordingly[150]. Financial Position - Cash and cash equivalents as of December 31, 2023, were approximately HKD 55.9 million, an increase of about HKD 17.1 million from approximately HKD 38.8 million in 2022[30]. - Total assets increased to HKD 446,003,000 in 2023 from HKD 391,938,000 in 2022, representing a growth of 13.8%[159]. - The company’s total equity reached HKD 313,567,000 in 2023, compared to HKD 289,609,000 in 2022, a growth of 8.3%[162]. Compliance and Reporting - The financial statements for the year ending December 31, 2023, were approved and authorized for publication on March 26, 2024[174]. - The financial statements are prepared in accordance with the Hong Kong Financial Reporting Standards and the Hong Kong Companies Ordinance, ensuring compliance with applicable disclosure requirements[175]. - The company has confirmed compliance with the non-competition agreement established by the controlling shareholder[106]. Employee and Social Responsibility - The company employed 77 male employees (71.3%) and 31 female employees (28.7%) as of December 31, 2023[69]. - The company made charitable donations of approximately HKD 19,000 during the fiscal year 2023[92]. - The company emphasizes environmental protection measures and has internal rules to monitor energy consumption[45].

Financial Performance - Revenue for the year ended December 31, 2023, was HKD 496,631,000, representing a 29.7% increase from HKD 382,786,000 in 2022[3] - Gross profit for the same period was HKD 106,908,000, up from HKD 97,538,000, indicating a growth of 11.4%[3] - Profit before tax increased to HKD 67,806,000, a rise of 30.9% compared to HKD 51,804,000 in the previous year[3] - Net profit for the year was HKD 56,958,000, which is a 31.3% increase from HKD 43,404,000 in 2022[3] - Basic and diluted earnings per share were both HKD 5.7, compared to HKD 4.3 in the prior year, reflecting a 32.6% increase[3] - The company reported a profit attributable to owners of the company of HKD 57,003,000 for the year ended December 31, 2023, compared to HKD 43,404,000 in 2022, representing a year-over-year increase of approximately 31.2%[30] - The group’s net profit for fiscal year 2023 reached approximately HKD 57.0 million, representing an increase of about HKD 13.6 million or 31.3% from HKD 43.4 million in fiscal year 2022[58] Dividends - The board recommended a final dividend of HKD 2.0 per share for the year ended December 31, 2023[3] - The company declared an interim dividend of HKD 0.015 per share for 2023, amounting to HKD 15,000,000, while the proposed final dividend is HKD 0.020 per share, totaling HKD 20,000,000, compared to HKD 18,000,000 in 2022[29] - The board proposed a final dividend of HKD 0.02 per share for the year 2023, totaling HKD 20.0 million, with a dividend payout ratio of approximately 35.1%[75] Assets and Liabilities - Total assets as of December 31, 2023, were HKD 446,003,000, compared to HKD 391,938,000 in 2022, showing an increase of 13.8%[6] - Current liabilities increased to HKD 168,598,000 from HKD 108,501,000, representing a 55.5% rise[6] - The company's total equity as of December 31, 2023, was HKD 313,567,000, up from HKD 289,609,000 in 2022, indicating an 8.3% increase[6] - The company's total trade and other payables decreased slightly to HKD 55,552,000 in 2023 from HKD 52,185,000 in 2022, reflecting a decrease of about 6.8%[36] - As of December 31, 2023, the group had no bank borrowings, resulting in an asset-liability ratio of zero[61][62] Revenue Sources - Revenue from design and construction projects amounted to HKD 477.534 million in 2023, up from HKD 362.642 million in 2022, reflecting a growth of 31.7%[23] - Major customer I contributed HKD 339.204 million in revenue for 2023, significantly higher than HKD 171.326 million in 2022, representing a growth of 97.9%[21] - Major customer II generated HKD 137.610 million in revenue for 2023, slightly up from HKD 133.861 million in 2022, indicating a growth of 2.1%[21] Expenses - The cost of inventory recognized as expenses was HKD 158.092 million in 2023, compared to HKD 130.666 million in 2022, an increase of 20.9%[24] - Employee benefit expenses, including director remuneration, totaled HKD 70.631 million in 2023, up from HKD 67.644 million in 2022, reflecting a growth of 4.9%[24] - Administrative and other operating expenses decreased by approximately HKD 5.5 million or 11.1% to about HKD 44.0 million in fiscal year 2023, primarily due to reduced employee benefits expenses[55] - The total employee benefit expenses for the year 2023 amounted to approximately HKD 70.6 million, up from HKD 67.6 million in 2022, primarily due to an increase in average employee compensation[69] Taxation - The company’s income tax expense for the year was HKD 10,800,000, up from HKD 8,397,000 in 2022, marking an increase of approximately 28.6%[26] - The group’s tax expense for fiscal year 2023 was approximately HKD 10.8 million, with an effective tax rate of about 15.9%[56] - The company’s tax rate for Hong Kong profits tax is 16.5%, with a lower rate of 8.25% applicable to the first HKD 2,000,000 of taxable profits for qualifying subsidiaries[26] Business Development - The company has entered into an agreement to acquire exclusive mining rights for a coal mine in Mongolia to diversify its business and enhance capital returns[7] - The company has entered into an exclusive purchase rights agreement for a coal mine in Mongolia, with a payment of RMB 27,000,000 (approximately HKD 29,363,000) made for mining rights[34] - The group plans to commence operations in the newly acquired mining business in the first half of fiscal year 2025, which is expected to provide stable cash flow[53] - The group aims to capture opportunities in both public and private sector projects following the Hong Kong government's initiatives to stimulate economic growth[53] Accounting and Compliance - The group has adopted new accounting standards effective from January 1, 2023, which do not significantly impact the measurement or presentation of items in the financial statements[14] - The group is currently evaluating the potential impact of newly issued accounting standards on its performance and financial position for the first application year[19] - The audit committee reviewed the consolidated financial statements for the fiscal year 2023, confirming consistency with the figures in the audited financial statements[85] - The company maintained compliance with the minimum public float requirements as per listing rules throughout the fiscal year 2023[83] Employee and Workforce - The group maintained a total of 108 employees as of December 31, 2023, unchanged from the previous year[69] Other Information - There were no significant acquisitions or disposals of subsidiaries, joint ventures, or associates during the year 2023[66] - The group had no significant contingent liabilities as of December 31, 2023[68] - The group had no capital commitments as of December 31, 2023[64] - There were no major events after the fiscal year that would significantly impact the group[70]

Financial Performance - The group's revenue increased by approximately HKD 65.7 million or 36.7% to about HKD 244.9 million compared to the previous period's revenue of approximately HKD 179.2 million[12]. - Gross profit rose by approximately HKD 1.3 million or 2.9% to about HKD 46.8 million, with a gross margin of approximately 19.1%, down from 25.4% in the previous period[13]. - The group's profit for the period was approximately HKD 23.6 million, an increase of about HKD 3.0 million or 14.6% compared to approximately HKD 20.6 million in the previous period[15]. - Revenue for the six months ended June 30, 2023, was HKD 244,882,000, representing a 36.5% increase from HKD 179,232,000 in the same period of 2022[42]. - Gross profit for the same period was HKD 46,842,000, slightly up from HKD 45,498,000, indicating a gross margin improvement[42]. - Profit before tax increased to HKD 28,341,000, up from HKD 24,599,000, reflecting a growth of 11.1%[42]. - Net profit for the period was HKD 23,587,000, compared to HKD 20,621,000 in 2022, marking a 9.5% increase[42]. - Basic earnings per share rose to HKD 2.4, up from HKD 2.1, representing a 14.3% increase year-over-year[42]. - The company's profit attributable to owners for the six months ended June 30, 2023, was HKD 23,587,000, an increase from HKD 20,621,000 in the same period of 2022, representing a growth of approximately 9.5%[81]. Cash and Assets - Cash and cash equivalents increased to approximately HKD 53.4 million from about HKD 38.8 million, representing an increase of approximately HKD 14.6 million[20]. - Total assets as of June 30, 2023, were HKD 446,950,000, an increase from HKD 391,938,000 at the end of 2022[43]. - Cash and cash equivalents at the end of the period were HKD 53,436,000, compared to HKD 38,826,000 at the end of 2022, showing a growth of 37.7%[49]. - Contract assets increased significantly to HKD 176,196,000 from HKD 125,143,000, reflecting a growth of 40.8%[43]. - Contract assets increased to HKD 176,956,000 as of June 30, 2023, from HKD 125,903,000 as of December 31, 2022, reflecting a growth of approximately 40.5%[83]. Liabilities and Equity - The group had no bank borrowings as of June 30, 2023, and the debt-to-equity ratio was zero[19][20]. - Current liabilities increased to HKD 157,394,000 from HKD 108,501,000, indicating a rise of 45%[43]. - The total amount of contract liabilities increased to HKD 76,874,000 as of June 30, 2023, from HKD 50,753,000 as of December 31, 2022, marking a rise of approximately 51.5%[84]. - Trade payables increased to HKD 28,777,000 as of June 30, 2023, compared to HKD 25,200,000 as of December 31, 2022, reflecting a growth of 10.2%[91]. - The aging analysis of trade payables shows that amounts due within 30 days surged to HKD 24,620,000 in 2023 from HKD 10,233,000 in 2022, indicating a significant increase of 141.5%[92]. Dividends and Shareholder Information - The board proposed an interim dividend of HKD 0.015 per share, totaling HKD 15 million, with a dividend payout ratio of approximately 63.6%[38]. - The company declared dividends of HKD 18,000,000 during the period, compared to no dividends declared in the previous year[45]. - The board of directors and key executives held a total of 750 million shares each, representing 75% ownership in the company[25]. - The interim dividend proposed for the six months ended June 30, 2023, is HKD 0.015 per share, totaling HKD 15,000,000, compared to no dividend in the same period of 2022[78]. Business Operations and Strategy - The group is actively seeking to diversify its existing business and has entered into an agreement to acquire exclusive mining rights for a coal mine in Mongolia[6]. - The group aims to expand its customer base to mitigate risks and achieve long-term stable growth[6]. - The company continues to focus on providing one-stop design and construction solutions for platform facades and curtain wall engineering, indicating a strategic emphasis on core business areas[68]. - The group is currently bidding for three large-scale projects with an estimated total contract value of HKD 227.9 million[10]. - As of June 30, 2023, the estimated contract value of ongoing projects was approximately HKD 692.9 million[9]. Employee and Management Information - As of June 30, 2023, the company had 112 employees, with total employee benefits expenditure amounting to approximately HKD 34.9 million, a slight increase from HKD 34.0 million in the previous period[22]. - Compensation for key management personnel decreased to HKD 5,666,000 in the first half of 2023 from HKD 5,996,000 in the same period of 2022, a decline of 5.5%[103]. Compliance and Governance - The company complied with the corporate governance code, except for the combined roles of the chairman and CEO held by the same individual[36]. - The audit committee consists of three independent non-executive directors and has reviewed the accounting standards and policies adopted by the group[39]. - The company has not yet adopted new or revised Hong Kong Financial Reporting Standards that may impact its performance and financial position, indicating ongoing assessments[61]. Other Financial Information - The company did not engage in any purchases, sales, or redemptions of its listed securities during the reporting period[23]. - The company has no significant acquisitions or disposals of subsidiaries during the reporting period[31]. - There were no significant contingent liabilities as of June 30, 2023[34]. - The company has not recognized any share-based payment expenses for the six months ended June 30, 2023, consistent with the same period in 2022[77]. - The company incurred auditor fees of HKD 350,000, up from HKD 300,000, indicating a 16.7% increase in audit-related expenses[72]. - The bank interest income for the period was HKD 2,010,000, a significant rise from HKD 3,000 in the previous year[71]. - Over 98% of the company's non-current assets are located in Hong Kong, emphasizing its concentrated operational footprint[63].

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。 （於開曼群島註冊成立的有限公司） （股份代號：6038） 截至二零二三年六月三十日止六個月 之中期業績公告 財務摘要 截至六月三十日止六個月 二零二三年 二零二二年 （未經審核） （未經審核） 千港元 千港元 收益 244,882 179,232 毛利 46,842 45,498 除所得稅前溢利 28,341 24,599 期內溢利 23,587 20,621 每股基本盈利（港仙） 2.4 2.1 每股攤薄盈利（港仙） 2.4 2.1 ...

Financial Performance - The group recorded revenue of approximately HKD 382.8 million for the fiscal year 2022, a decrease of about HKD 20.4 million or 5.1% compared to HKD 403.2 million in fiscal year 2021[12]. - The gross profit increased to approximately HKD 97.5 million in fiscal year 2022, representing a rise of about HKD 4.6 million or 5.0% from approximately HKD 92.9 million in fiscal year 2021, with a gross margin of 25.5%[16]. - The group's profit for the fiscal year 2022 reached approximately HKD 43.4 million, an increase of about HKD 6.6 million or 17.9% compared to approximately HKD 36.8 million in 2021[19]. - Total revenue for the year 2022 was HKD 382,786,000, a decrease of 5.3% from HKD 403,211,000 in 2021[150]. - Gross profit increased to HKD 97,538,000, up 5.8% from HKD 92,862,000 in the previous year[150]. - Net profit for the year was HKD 43,404,000, representing a growth of 17.6% compared to HKD 36,800,000 in 2021[150]. - Basic and diluted earnings per share rose to HKD 4.3, an increase of 16.2% from HKD 3.7 in the prior year[150]. Cash Flow and Financial Position - The group's cash and cash equivalents balance as of December 31, 2022, was approximately HKD 38.8 million, a decrease of about HKD 49.5 million from approximately HKD 88.3 million in 2021[24]. - The company experienced a decrease in cash and cash equivalents, ending the year with HKD 38,826,000, down from HKD 88,319,000 at the start of the year[160]. - Operating cash flow for the year was HKD 120,810,000, a significant improvement from a cash outflow of HKD 50,333,000 in the previous year[159]. - The company’s revenue from operating activities showed a significant increase, with a cash inflow of HKD 129,644,000 compared to a cash outflow in the previous year[159]. - The company’s financing activities resulted in a net cash outflow of HKD 30,536,000, compared to a smaller outflow of HKD 5,464,000 in the previous year[160]. - The company reported a decrease in trade and other payables, resulting in a cash inflow of HKD 17,770,000 in the previous year, which turned into a cash outflow of HKD 11,830,000 in the current year[159]. Contracts and Business Operations - The group secured contracts worth HKD 967.0 million, ensuring sufficient cash flow for daily operations and business growth[7]. - The group has an estimated contract balance of HKD 523.6 million for key projects as of December 31, 2022[13]. - The group aims to maintain project profitability through stringent cost control measures implemented during fiscal year 2022[7]. - The group has received two platform facade contracts post-fiscal year 2022, with a total contract value of approximately HKD 388.1 million[13]. - The company’s main business involves providing one-stop design and construction solutions for facade and curtain wall engineering in Hong Kong[74]. Expenses and Taxation - The administrative and other operating expenses increased to approximately HKD 49.4 million in fiscal year 2022, up by about HKD 1.5 million or 3.1% from approximately HKD 47.9 million in fiscal year 2021[17]. - The income tax expense for the group was approximately HKD 8.4 million in fiscal year 2022, with an effective tax rate of about 16.2%[18]. - The total employee benefit expenses for the fiscal year 2022 amounted to approximately HKD 67.6 million, an increase from HKD 64.8 million in 2021[34]. Governance and Compliance - The company has adopted the corporate governance code as per the Hong Kong Stock Exchange's listing rules and has complied with it during the fiscal year 2022, except for the provision regarding the separation of roles between the Chairman and the CEO[46]. - The board of directors consists of two executive directors, one non-executive director, and three independent non-executive directors, ensuring strong independence in its composition[46]. - All directors confirmed compliance with the standard code for securities trading during the fiscal year 2022[47]. - The audit committee reviewed the financial reporting procedures and internal control systems, meeting with management and external auditors to discuss key audit matters and the audit results for the fiscal year 2022[57]. - The board has established four committees to oversee specific functions, with independent non-executive directors actively participating in all committee meetings[56]. - The company emphasizes the importance of board diversity to support its strategic goals and sustainable development[54]. - The board currently consists of five male and one female director, with plans to enhance gender balance in future appointments[55]. Risk Management - The risk management committee conducted a risk assessment in 2022, identifying key risks recorded in a risk register for ongoing monitoring and control[64]. - The company has adopted a policy and procedural manual for internal controls and risk management compliance across various operational functions[65]. - The board believes that the risk management and internal control systems are effective and adequate, although they cannot eliminate all risks associated with achieving business objectives[65]. - The company has not established an internal audit department but has procedures in place to ensure adequate resources for internal audit functions[64]. Shareholder Information - The proposed final dividend for fiscal year 2022 is HKD 0.018 per share[8]. - The group reported a final dividend of HKD 0.018 per share, totaling HKD 18 million, with a dividend payout ratio of approximately 41.5%[76]. - The company has a dividend policy aimed at sharing profits with shareholders while retaining sufficient reserves for future growth[108]. - The company declared a total dividend of HKD 16,500,000 for the year, compared to HKD 11,000,000 in the previous year[160]. Financial Reporting and Audit - The consolidated financial statements for the fiscal year 2022 were audited by a reputable accounting firm, which is eligible for reappointment[115]. - The company reported a comprehensive financial position as of December 31, 2022, reflecting a fair and true representation of its financial status[130]. - The financial statements have been prepared in accordance with Hong Kong Financial Reporting Standards, ensuring compliance with local regulations[130]. - The audit aimed to reasonably ensure that the consolidated financial statements are free from material misstatement due to fraud or error[142]. - The audit committee assists the board in overseeing the financial reporting process[141]. Market Position and Client Relationships - The group maintained stable relationships with major clients, many of whom have been partners for over 15 years[37]. - The five largest customers accounted for approximately 97.0% of the total revenue, with the largest single customer contributing 44.8%[107]. - The five largest suppliers represented about 48.9% of total procurement, with the largest single supplier accounting for 13.5%[107]. Internal Controls and Management - The company’s management team is responsible for the execution of strategies and policies, while the board leads and supervises the overall business[48]. - The company has committed to continuous professional development for its directors to enhance their knowledge and skills[51]. - The audit committee has met with internal control consultants to review the internal control systems for specific areas during the fiscal year 2022[57]. - The company has established a strong management team with a diverse skill set, enhancing its operational capabilities and market competitiveness[126].

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。 （於開曼群島註冊成立的有限公司） （股份代號：6038） 截至二零二二年十二月三十一日止年度 之年度業績公告 財務摘要 截至十二月三十一日 止年度 二零二二年 二零二一年 千港元 千港元 收益 382,786 403,211 毛利 97,538 92,862 除所得稅前溢利 51,804 44,209 年內溢利 43,404 36,800 每股基本盈利（港仙） 4.3 3.7 每股攤薄盈利（港仙） 4.3 3.7 ...

Financial Performance - The company's revenue increased by approximately HKD 20.8 million or 13.1% to about HKD 179.2 million compared to the previous period's revenue of approximately HKD 158.4 million[14]. - Gross profit rose by approximately HKD 4.3 million or 10.4% to about HKD 45.5 million, with a gross margin of approximately 25.4%, slightly down from 26.0% in the previous period[15]. - The company's net profit for the period was approximately HKD 20.6 million, an increase of about HKD 0.7 million or 4% compared to the previous period's net profit of approximately HKD 19.9 million[17]. - Profit before tax increased to HKD 24,599 thousand, compared to HKD 23,440 thousand in the previous year, representing a growth of 4.9%[52]. - Total comprehensive income for the period amounted to HKD 20,654 thousand, compared to HKD 19,858 thousand in the prior year, showing an increase of 4.0%[52]. - For the six months ended June 30, 2022, the company's profit attributable to owners was HKD 20,621,000, compared to HKD 19,859,000 for the same period in 2021, representing an increase of approximately 3.83%[90]. Expenses and Costs - Administrative and other operating expenses increased by approximately HKD 4.1 million or 23.4% to about HKD 21.6 million, primarily due to increased employee benefits expenses[16]. - The cost of inventory recognized as an expense was HKD 57,125,000 for the six months ended June 30, 2022, up from HKD 50,667,000 in 2021, indicating a year-over-year increase of about 12.88%[82]. - The interim tax expense for the six months ended June 30, 2022, was HKD 3,978,000, compared to HKD 3,581,000 for the same period in 2021, representing an increase of approximately 11.06%[84]. - The total compensation for key management personnel for the six months ended June 30, 2022, was HKD 5,996,000, a decrease from HKD 6,620,000 in 2021[121]. Cash Flow and Financial Position - The company's cash and cash equivalents increased by approximately HKD 65.6 million to about HKD 153.9 million as of June 30, 2022, compared to approximately HKD 88.3 million as of December 31, 2021[22]. - Bank borrowings decreased to approximately HKD 0.5 million from about HKD 15.9 million as of December 31, 2021, due to cash flow from operating activities used to repay borrowings[21]. - The asset-to-liability ratio was approximately 0.2% as of June 30, 2022, down from 6.2% as of December 31, 2021, mainly due to reduced bank borrowings and increased total equity[22]. - Current assets decreased to HKD 389,110 thousand from HKD 390,717 thousand, indicating a slight reduction in liquidity[54]. - Total assets less current liabilities increased to HKD 274,224 thousand from HKD 265,637 thousand, showing a strengthening of the company's financial position[54]. Contracts and Revenue Sources - The company held contracts with an estimated remaining value of HKD 686.7 million as of June 30, 2022, with several new contracts successfully obtained during the period[11]. - The company was awarded a new external wall contract valued at approximately HKD 37.9 million after the reporting period[12]. - Major clients contributed significantly to revenue, with Client I generating HKD 81,278,000 and Client II contributing HKD 72,807,000 in the first half of 2022, compared to HKD 35,128,000 and HKD 112,048,000 respectively in the same period of 2021[76]. - The company reported revenue of HKD 165,130,000 from design and construction projects related to facade and curtain wall engineering for the six months ended June 30, 2022, an increase from HKD 140,947,000 in the same period of 2021, representing a growth of approximately 17.2%[79]. - Maintenance and repair services generated revenue of HKD 170,745,000 for the six months ended June 30, 2022, compared to HKD 146,456,000 in the prior year, reflecting an increase of about 16.6%[79]. Governance and Compliance - The board recommended not to declare an interim dividend for the period, considering the overall business performance and financial condition[47]. - The company maintained compliance with corporate governance codes, except for the combined roles of the Chairman and CEO held by Mr. Li[44]. - The company has adopted new and revised Hong Kong Financial Reporting Standards effective from January 1, 2022, but these changes did not have a significant impact on the group's performance and financial position[70]. - The company's financial statements are prepared in accordance with Hong Kong Accounting Standards and have not been audited or reviewed by external auditors[67]. Assets and Liabilities - The total contract assets as of June 30, 2022, amounted to HKD 125,895,000, compared to HKD 96,247,000 as of December 31, 2021, reflecting a significant increase of approximately 30.93%[93]. - The company's trade receivables, net of loss provisions, were HKD 77,328,000 as of June 30, 2022, compared to HKD 172,966,000 in the previous year, showing a decrease of about 55.32%[102]. - The total liabilities related to contract liabilities were HKD 68,755,000 as of June 30, 2022, compared to HKD 56,825,000 as of December 31, 2021, indicating an increase of approximately 20.93%[96]. - Trade payables as of June 30, 2022, totaled HKD 19,115,000, a decrease of 53% from HKD 40,718,000 in 2021[107]. - Warranty payables as of June 30, 2022, were HKD 8,715,000, down from HKD 9,218,000 in 2021[111]. Employee Information - As of June 30, 2022, the company had 109 employees, with total employee benefits expenditure amounting to approximately HKD 34.0 million, an increase from HKD 30.8 million in the previous period[23]. - The company granted 3,000,000 share options under its share option scheme, with no options exercised or cancelled up to the report date[35].

Revenue and Profitability - The company reported a revenue of approximately HKD 403.2 million for the fiscal year ending December 31, 2021, an increase of about HKD 159.8 million or 65.7% compared to HKD 243.4 million in the previous year[11]. - The group’s gross profit increased by approximately HKD 29.7 million or 47.0% to about HKD 92.9 million in 2021, with a gross margin of approximately 23.0%, down from 26.0% in 2020[22]. - The group recorded a profit of approximately HKD 36.8 million in 2021, an increase of about HKD 13.5 million or 57.9% compared to approximately HKD 23.3 million in 2020[26]. - The total comprehensive income for the year was HKD 36,817,000, compared to HKD 23,294,000 in 2020, marking a 57.5% increase[182]. - Basic and diluted earnings per share for the year were HKD 3.7, compared to HKD 2.3 in 2020, reflecting a 60.9% increase[182]. Revenue Sources - Design and construction projects accounted for approximately HKD 380.0 million of total revenue, representing 94.2% of the total, while maintenance and repair services generated about HKD 23.2 million, or 5.8% of total revenue[18]. - The two major projects contributed 59.7% to the company's revenue in 2021, recovering from delays experienced in the previous year[18]. - A significant portion of the company's revenue comes from a few customers, and failure to maintain these relationships could adversely affect financial performance[54]. - The top five customers accounted for approximately 98.5% of the total revenue, with the largest single customer representing 52.2%[129]. Financial Position and Cash Flow - The company's cash flow from operating activities for the year was a net outflow of HKD 50,333,000, compared to a net inflow of HKD 40,434,000 in the previous year, indicating a decline in operational cash generation[192]. - The group has an estimated contract balance of HKD 518.4 million as of December 31, 2021, with several ongoing projects expected to complete in 2022 and 2023[20]. - The group's cash and cash equivalents decreased to approximately HKD 88.3 million as of December 31, 2021, down by about HKD 60.9 million from HKD 149.2 million in 2020[29]. - The company paid dividends amounting to HKD 16,500,000 in 2021, an increase from HKD 14,000,000 in 2020, representing a 17.86% increase[194]. Operational Challenges and Strategies - The company experienced increased operational challenges due to COVID-19, including higher costs and project delays, but has managed to recover in the latter half of 2021[11]. - The company has implemented measures to mitigate the impact of rising material costs and inflation on project profitability[12]. - The company plans to maintain a cautious bidding strategy, focusing on projects with higher design elements and technical capabilities[17]. - The company aims to leverage new opportunities arising in the post-COVID-19 period while maintaining its reputation for quality and innovation[17]. Governance and Compliance - The board of directors consists of two executive directors, one non-executive director, and three independent non-executive directors, ensuring strong independence[59]. - The company has adopted the corporate governance code and has complied with it during the fiscal year, except for the separation of roles between the chairman and CEO[59]. - The audit committee reviewed the financial reporting procedures and internal control systems for the fiscal year 2021[73]. - The company has confirmed compliance with the non-competition commitments for the fiscal year 2021[116]. Shareholder Relations and Dividends - The company proposed a final dividend of HKD 0.011 per share for the fiscal year 2021[13]. - The interim dividend of HKD 0.0055 per share was declared and paid during the fiscal year, amounting to HKD 5.5 million[94]. - The company emphasizes effective communication with shareholders to enhance their understanding of the business and performance[87]. - The company aims to retain sufficient reserves for future growth while considering factors such as financial condition and operational funding needs when declaring dividends[131]. Risk Management - The company faces risks related to overall economic and market conditions, which can impact competitiveness and project profitability[54]. - The risk management committee conducted a risk assessment based on the latest operations and identified key risks recorded in the risk register[80]. - The board believes that the risk management and internal control systems are effective and adequate[81]. Audit and Financial Reporting - The financial statements for the year 2021 were audited by Lixin Dehao CPA, who is eligible for reappointment[137]. - The independent auditor's report confirms that the financial statements are free from material misstatement and comply with the relevant disclosure requirements[155]. - The financial statements are prepared in accordance with Hong Kong Financial Reporting Standards, ensuring compliance with local regulations[197].

Financial Performance - The group's revenue increased by approximately HKD 22.9 million or 16.9% to about HKD 158.4 million for the period, compared to approximately HKD 135.5 million in the previous period[15] - Gross profit rose by approximately HKD 5.4 million or 15.1% to about HKD 41.2 million, with a gross margin of approximately 26.0%, slightly down from 26.4% in the previous period[16] - The group's net profit for the period was approximately HKD 19.9 million, an increase of about HKD 3.4 million or 20.6% compared to approximately HKD 16.5 million in the previous period[18] - Revenue for the six months ended June 30, 2021, was HKD 158,434 thousand, an increase of 17.0% compared to HKD 135,524 thousand in 2020[52] - Gross profit for the same period was HKD 41,169 thousand, representing a gross margin of 25.9%[52] - Profit before tax increased to HKD 23,440 thousand, up 19.2% from HKD 19,560 thousand in the previous year[52] - Net profit for the period was HKD 19,859 thousand, a rise of 20.5% compared to HKD 16,498 thousand in 2020[52] - Basic and diluted earnings per share were both HKD 2.0, compared to HKD 1.6 in the previous year, reflecting a 25.0% increase[52] Contractual and Project Updates - The total value of uncompleted contracts reached approximately HKD 791.4 million, up from HKD 497.0 million in the previous period[9] - The group has been awarded a new facade contract worth approximately HKD 55.6 million and is bidding for five large projects with an estimated total contract value exceeding HKD 422.5 million[13] Expenses and Liabilities - Administrative and other operating expenses decreased by approximately HKD 0.7 million or 3.8% to about HKD 17.5 million, mainly due to reduced legal and professional expenses[17] - The group's bank borrowings increased to approximately HKD 2.6 million from about HKD 1.1 million, representing an increase of approximately HKD 1.5 million[22] - The asset-to-liability ratio as of June 30, 2021, was approximately 1.1%, up from 0.5% at the end of 2020, primarily due to increased bank borrowings[23] - Current liabilities decreased to HKD 89,952 thousand from HKD 100,938 thousand, indicating improved liquidity[54] - The total trade and other payables increased to HKD 46,297,000 as of June 30, 2021, from HKD 38,801,000 as of December 31, 2020, indicating a rise in operational liabilities[108] Cash Flow and Financial Position - The cash and cash equivalents balance as of June 30, 2021, was approximately HKD 137.4 million, a decrease of about HKD 11.8 million from approximately HKD 149.2 million at the end of 2020[23] - The company reported a net cash outflow from operating activities of HKD (7,485) thousand, an improvement from HKD (14,146) thousand in the prior year[59] - Cash and cash equivalents at the end of the period were HKD 137,351 thousand, compared to HKD 120,792 thousand in the previous year, showing a positive cash flow trend[59] Employee and Management Information - The group had 110 employees as of June 30, 2021, compared to 103 employees as of June 30, 2020, with total employee benefits expenses amounting to approximately HKD 30.7 million, up from HKD 26.7 million in the previous period, primarily due to business expansion[24] - Compensation for key management personnel for the six months ended June 30, 2021, was HKD 6,557,000, an increase from HKD 5,525,000 in the same period of 2020[118] Shareholder and Governance Information - The board proposed an interim dividend of HKD 0.55 per share, totaling HKD 5.5 million, with a dividend payout ratio of approximately 27.7%[48] - The company complied with the corporate governance code during the period, except for the provision regarding the separation of the roles of chairman and CEO[45] - The board of directors and key executives held significant interests in the company, with Mr. Li and Mr. Leung each holding 750 million shares, representing 75% ownership[28] Accounting and Compliance - The company has adopted new or revised Hong Kong Financial Reporting Standards effective from January 1, 2021, but these did not have a significant impact on the financial performance[68] - The company is currently assessing the potential impact of newly issued accounting standards on its financial performance and position[72] Other Financial Metrics - The group recognized other income of HKD 170,000 for the period, compared to no other income reported in the same period of 2020[80] - The company’s maintenance and repair services generated revenue of HKD 146,456,000, an increase from HKD 129,108,000 in the previous year, representing a growth of 13.5%[79] - The group reported a profit attributable to owners of the company of HKD 19,859,000 for the six months ended June 30, 2021, compared to HKD 16,498,000 for the same period in 2020, representing a growth of approximately 20.5%[92]