Financial Performance - The company recorded a revenue of HKD 3,185.8 million for the fiscal year 2021, representing an increase of approximately 117.4% compared to the previous year[27]. - The general construction business contributed approximately HKD 2,676.7 million, accounting for 84.0% of the total revenue, with HKD 1,825.2 million (57.3%) coming from the Hai Fa Group[27]. - The gross profit for 2021 increased by 136.8% to HKD 205.1 million, with a slight rise in gross margin to 6.4% from 5.9% in 2020[28]. - The operating profit for the year 2021 increased by HKD 32.8 million or 85.9%, despite significant growth in revenue and gross profit[36]. - The profit before tax for 2021 was HKD 31.2 million, compared to HKD 28.4 million in 2020, with an adjusted profit before tax of HKD 60.3 million, an increase of approximately HKD 34.9 million from HKD 25.4 million in 2020[37]. Revenue Sources - The group achieved over 100% revenue growth in 2021, with approximately 84.0% of revenue coming from the general construction business segment[8]. - Maritime construction projects in Macau contributed HKD 327.8 million, accounting for about 10.3% of total revenue in 2021[13]. - The acquisition of a 34% stake in Qingdao Honghai Curtain Wall Co., Ltd. strengthened the group's competitive position, leading to a significant revenue increase of approximately 117.3% in the general construction contracting business in China[14]. - Two new maritime construction projects were secured in Hong Kong in 2021, each with an estimated contract value exceeding HKD 100 million[13]. - The company anticipates substantial infrastructure projects in the Qingdao West Coast New Area, which is expected to be a major source of revenue[26]. Project Pipeline and Development - The company has a significant project pipeline, including a power generation facility contract in Macau valued at HKD 413.7 million, expected to be completed by the end of 2022[24]. - The group has ongoing projects in Macau, including two reclamation projects expected to be completed in Q2 2022[15]. - The group anticipates the completion of related bridge and dredging works for a cross-sea bridge project by Q3 2023[15]. - The company has been approved for a maritime-related service project in the Philippines, with a contract value expected to exceed HKD 300 million[19]. Financial Position and Assets - Trade receivables, retention money, and receivables increased by approximately HKD 152.1 million to HKD 555.9 million as of December 31, 2021[41]. - Contract assets for maritime and general construction businesses were approximately HKD 217.6 million and HKD 1,109.1 million, respectively, as of December 31, 2021[42]. - The net current assets and net debt as of December 31, 2021, were approximately HKD 727.8 million and HKD 917.9 million, respectively, compared to HKD 367.8 million and HKD 168.0 million in 2020[52]. - The debt-to-equity ratio increased to 203.4% as of December 31, 2021, from 80.4% in 2020, primarily due to financing for acquisitions and equipment purchases[52]. Corporate Governance - The company has adopted the corporate governance code as per the Hong Kong Stock Exchange's listing rules and has complied with these rules throughout the 2021 fiscal year[77]. - The board of directors held a total of 5 meetings in 2021, with the chairman attending 4 out of 5 meetings[83]. - The audit committee met 2 times in 2021 to review financial statements and discuss audit results with the auditors[92]. - The company emphasizes the importance of ethical and responsible business practices to maximize long-term shareholder value[77]. - The company has established a policy for board diversity to ensure a balanced mix of skills and experiences among directors[93]. Employee and Labor Relations - The total employee cost for the group in 2021 was approximately HKD 154.8 million, a decrease from HKD 227.2 million in 2020[67]. - The group maintained a workforce of 631 employees in 2021, an increase from 298 employees in 2020[67]. - The group has not faced any significant labor disputes and has maintained good relationships with employees[67]. Risk Management and Compliance - The board of directors is responsible for ensuring the effectiveness of the group's risk management and internal control systems[103]. - The company has adopted policies and procedures for internal control and risk management compliance across various operational and management functions[100]. - The independent directors play a crucial role in overseeing the company's financial reporting and risk management practices[198][199]. Related Party Transactions - The independent non-executive directors confirmed that the related party transactions were conducted in the ordinary course of business and on normal commercial terms[178]. - The auditor provided an unqualified opinion on the related party transactions for the year ended December 31, 2021, in accordance with the relevant listing rules[181]. Strategic Development - The company is focused on business strategy and operations in Hong Kong, Macau, and overseas markets[190]. - The management team includes professionals with qualifications in engineering, finance, and management, ensuring a strong leadership structure[194]. - The company is actively involved in strategic development and capital operations, with a focus on expanding its market presence[194].

Revenue and Profitability - The group recorded revenue of HKD 983.0 million for the period, representing an increase of approximately 98.4% compared to the previous period[19] - Revenue from maritime construction projects increased by approximately HKD 92.2 million, primarily driven by projects in Macau[19] - General construction business revenue from Qingdao increased by approximately HKD 494.2 million, contributing significantly to overall revenue[19] - Approximately 76.3% of the group's revenue, or HKD 750.7 million, came from general construction business, with HKD 583.2 million or 59.3% sourced from the West Coast Group[12] - The company reported revenue of HKD 982.975 million for the six months ended June 30, 2021, representing a 98.4% increase from HKD 495.530 million in the same period of 2020[62] - Gross profit for the same period was HKD 59.785 million, with a gross margin of approximately 6.1% compared to 7% in the previous year[62] - The net profit attributable to the company's owners was HKD 5.803 million, an increase from HKD 4.812 million in the prior year, reflecting a growth of 20.6%[62] - The net profit for the period was HKD 5,803,000, compared to HKD 7,605,000 for the same period in 2020, reflecting a decrease of approximately 23.6%[102] Expenses and Costs - The sales cost increased by 100.0% to HKD 923.2 million, with a gross profit increase of HKD 25.3 million or approximately 73.4% to HKD 59.8 million, resulting in a gross margin decline from 7.0% to 6.1%[20] - Other administrative expenses rose from approximately HKD 21.7 million to about HKD 43.7 million, primarily due to the administrative costs associated with the newly acquired Honghai Curtain Wall and increased legal and professional fees by HKD 2.9 million to HKD 7.3 million[21] - The group recorded a profit decrease of approximately 23.7% to about HKD 5.8 million due to significant increases in administrative expenses and income tax expenditures despite revenue and gross profit growth[25] Assets and Liabilities - The group's current assets and liabilities as of June 30, 2021, were approximately HKD 599.5 million and HKD 547.8 million, respectively, resulting in a debt-to-equity ratio of 187.9%[31] - Total assets increased to HKD 2,684,190 thousand as of June 30, 2021, compared to HKD 1,753,830 thousand as of December 31, 2020, representing a growth of 53%[65] - Total liabilities increased to HKD 2,060,973 thousand as of June 30, 2021, compared to HKD 1,198,958 thousand as of December 31, 2020, indicating a rise of 72%[67] - The company’s total equity reached HKD 623,217 thousand, up from HKD 554,872 thousand, showing an increase of 12%[70] - Trade payables and retention money increased to HKD 955,657 thousand, compared to HKD 652,222 thousand, representing a growth of 46%[67] Employee and Administrative Information - As of June 30, 2021, the company had 498 employees, with total employee costs amounting to approximately HKD 69.3 million, up from HKD 48.1 million in the previous period[35] - Employee costs, including director remuneration, increased to HKD 69,315,000 in the first half of 2021, compared to HKD 48,076,000 in the same period of 2020, marking a rise of about 44%[114] Acquisitions and Investments - The group completed the acquisition of a 34% stake in Qingdao Honghai Curtain Wall Co., Ltd., gaining control over its board, which is expected to enhance synergies with the general construction business[9] - The company completed the acquisition of a 34% stake in Qingdao Honghai Curtain Wall Co., Ltd. on January 13, 2021, with a purchase price of HKD 59,264,000[157] - The identifiable net assets acquired from Qingdao Honghai amounted to HKD 98,490,000, with goodwill recognized at HKD 25,777,000[159] Financial Performance and Cash Flow - The company reported a net cash outflow from operating activities of HKD 274,070 thousand for the six months ended June 30, 2021, compared to HKD 105,535 thousand in the same period of 2020[74] - Cash and cash equivalents at the end of the period were HKD 246,076 thousand, an increase from HKD 194,300 thousand at the end of 2020[74] - The company’s financing activities generated a net cash inflow of HKD 365,368 thousand, a significant increase from HKD 28,507 thousand in the previous year[74] Risk Management and Financial Policies - Financial risk management remains focused on minimizing potential adverse impacts on financial performance due to market unpredictability[88] - The company’s overall risk management strategy has not changed since the end of the previous fiscal year[89] Related Party Transactions - Revenue from related party construction projects amounted to HKD 130,998,000 for Xifa Real Estate, a decrease of 3.0% from HKD 135,287,000 in 2020[165] - The total receivables from related parties amounted to HKD 98,949,000 as of June 30, 2021, compared to HKD 50,305,000 as of December 31, 2020, reflecting a significant increase[170]

Business Expansion and Acquisitions - The group acquired 80% of Qingdao Dongjie Construction Engineering Co., expanding its business into the Chinese construction market[5] - The acquisition of Honghai Curtain Wall Co. is expected to enhance the group's overall competitiveness in the Chinese market[6] - The company completed the acquisition of a 34% stake in Qingdao Honghai Curtain Wall Co., enhancing its competitiveness in construction project bidding[20] - The group completed the acquisition of 80% of Dongjie Construction for approximately RMB 71.4 million on January 17, 2020, and entered into an agreement to acquire 34% of Qingdao Honghai Curtain Wall Co., Ltd. for approximately RMB 49.9 million[40] - The group aims to expand its business into the Chinese construction industry through the acquisition of Dongjie Construction, enhancing its competitive position in the market[133] Financial Performance - Total revenue for the year ended December 31, 2020, was HKD 1,465.7 million, with contributions from various projects detailed in the report[11] - The company recorded a revenue of HKD 1,465.7 million for the fiscal year 2020, representing an increase of approximately 184.6% compared to the previous year[21] - The company achieved a gross profit of HKD 86.6 million in 2020, an increase of approximately 73.8%, although the gross profit margin decreased from 9.7% to 5.9%[22] - The company recorded a profit of HKD 16.0 million for 2020, a 32.8% increase from HKD 12.1 million in the previous year, driven by revenue growth and gross profit increases[31] - The company’s financial performance and asset-liability summary for the past five years are detailed in the annual report[94] Revenue Sources - Revenue from general construction contracting services in China exceeded that from maritime construction services in 2020[6] - The largest contribution to revenue came from general construction services in Qingdao, amounting to HKD 470.2 million, representing 32.1% of total revenue[11] - Revenue from maritime construction projects increased by approximately HKD 162.4 million, primarily from projects in Macau, contributing to a total of HKD 470.8 million in 2020[21] - The company anticipates that the general construction business will continue to be a major source of revenue, benefiting from synergies with the Qingdao West Coast Group[20] Project Developments - The group secured at least three new large projects in the maritime engineering sector in 2020, including contracts related to the Macau Cross-Sea Bridge[6] - The ongoing projects in Macau are expected to be completed by Q2 2022, with other contracts anticipated to finish in Q1 2023[11] - The estimated contract value for the new Science and Technology Innovation Center project in Qingdao is HKD 1,208.5 million, with an expected completion in Q3 2023[19] Corporate Governance and Compliance - The board of directors is committed to high standards of corporate governance and has adopted the corporate governance code as per the Hong Kong Stock Exchange[59] - The company has established four committees to oversee specific functions and ensure compliance with legal and regulatory requirements[66] - The company has not faced any sanctions or penalties for violating environmental laws or regulations during the fiscal year 2020[54] - The company has complied with all relevant laws and regulations in all material respects during the year ended December 31, 2020[149] Risk Management - The audit committee is responsible for hiring auditors, reviewing financial information, and overseeing the financial reporting system and risk management[70] - The risk management committee updated the risk assessment according to the latest operational conditions and identified key risks recorded in the risk register[76] - The board believes that the risk management and internal control systems are effective and adequate, although they are designed to manage rather than eliminate risks[77] Shareholder Relations - The company emphasizes effective communication with shareholders to enhance their understanding of the group's business and performance[84] - The board will strive to ensure attendance of committee chairpersons at the annual general meeting to address shareholder inquiries[84] - The board is committed to considering dividend distributions at least twice a year, based on various factors including operational performance and financial condition[89] Employee and Administrative Expenses - The total employee cost for the group in the fiscal year 2020 was approximately HKD 227.2 million, compared to HKD 64.3 million in 2019[47] - The company’s administrative expenses increased from approximately HKD 27.4 million in 2019 to about HKD 51.7 million in 2020, primarily due to operational costs from the newly acquired Dongjie Construction[27] Related Party Transactions - The independent non-executive directors confirmed that the related party transactions were conducted in the ordinary course of business and on normal commercial terms, ensuring fairness and reasonableness for shareholders[146] - The company has engaged external independent consultants to review the internal control system, covering management and financial information functions, financial reporting, procurement, and risk assessment[76] Audit and Financial Reporting - The auditor, PwC, has audited the consolidated financial statements for the year ended December 31, 2020, and will be proposed for reappointment at the upcoming annual general meeting[151] - Key audit matters identified include accounting for construction contracts, impairment assessment of trade receivables, and allocation of purchase price for the acquisition of 80% equity in Qingdao Dongjie Construction Engineering Co., Ltd.[176]

Revenue and Profitability - The company recorded revenue of HKD 495.5 million for the period, an increase of approximately 188.5% compared to the previous period[17]. - Revenue contribution from the newly acquired Qingdao Dongjie Construction Engineering Co., Ltd. was approximately HKD 256.5 million, accounting for 51.8% of total revenue[10]. - The gross profit increased by HKD 17.2 million, or approximately 99.3%, to HKD 34.5 million, with a gross margin decline from 10.1% to 7.0%[18]. - Revenue for the six months ended June 30, 2020, was HKD 495,530,000, an increase from HKD 171,759,000 in the same period of 2019, representing a growth of 187.5%[60]. - Gross profit for the same period was HKD 34,488,000, compared to HKD 17,301,000 in 2019, reflecting a growth of 99.3%[60]. - Operating profit increased to HKD 13,955,000 from HKD 5,430,000, marking an increase of 157.5% year-over-year[60]. - Profit before tax was HKD 8,726,000, significantly up from HKD 1,860,000 in the previous year, representing a growth of 367.3%[60]. - Net profit for the period was HKD 7,605,000, compared to HKD 6,995,000 in 2019, indicating a growth of 8.7%[60]. - Basic and diluted earnings per share increased to HKD 0.95 from HKD 0.87, a rise of 9.2%[60]. Acquisitions and Business Expansion - The company completed the acquisition of 80% of Qingdao Dongjie Construction in January 2020, expanding its business into the Chinese construction market[5]. - The group completed the acquisition of 80% of Dongjie Construction for approximately RMB 71.4 million on January 17, 2020[33]. - The acquisition price for Qingdao Dongjie was HKD 78,240,000, with net identifiable assets valued at HKD 72,129,000 after accounting for non-controlling interests and goodwill of HKD 20,537,000[159]. Project Management and Challenges - Major projects in hand as of June 30, 2020, include the Landong and Lanxi resettlement projects in Qingdao valued at HKD 928.0 million, expected to be completed by the end of 2022[12]. - The company is experiencing delays in project progress and new project launches due to the COVID-19 pandemic, which may continue into the second half of 2020[16]. - The company has achieved significant progress in its reclamation projects in Macau, with multiple new projects awarded during the period[10]. Financial Position and Liquidity - The group maintained a healthy liquidity position with net current assets of approximately HKD 256.4 million as of June 30, 2020[27]. - Total assets as of June 30, 2020, were HKD 1,501,189,000, up from HKD 928,427,000 in 2019, reflecting a growth of 61.5%[63]. - Total liabilities increased to HKD 969,602 thousand as of June 30, 2020, compared to HKD 411,425 thousand as of December 31, 2019, representing a growth of 135.5%[70]. - The company reported a net loss of HKD (11,243) thousand in retained earnings for the six months ended June 30, 2020, compared to a loss of HKD (6,337) thousand in the same period of 2019[73]. - The total equity attributable to owners increased to HKD 281,644 thousand as of June 30, 2020, from HKD 269,766 thousand as of June 30, 2019, reflecting a growth of 4.5%[73]. Employee and Operational Costs - Employee costs totaled approximately HKD 48.1 million, up from HKD 28.8 million in the previous period, with the workforce increasing to 269 employees[31]. - The sales cost increased by 198.5% to HKD 461.0 million, outpacing revenue growth due to project delays and additional site management costs[18]. - The total financial costs for the six months ended June 30, 2020, were HKD 5,229,000, compared to HKD 3,570,000 in 2019[125]. Trade and Receivables - Trade receivables and retention money rose by approximately HKD 477.1 million to HKD 722.5 million as of June 30, 2020, with HKD 271.8 million related to the maritime business and HKD 450.7 million to general construction[25]. - Contract assets amounted to approximately HKD 95.3 million for the maritime business and HKD 101.0 million for general construction as of June 30, 2020[26]. - The trade receivables and retention money amounted to HKD 722,456,000 as of June 30, 2020, compared to HKD 245,365,000 as of December 31, 2019, indicating a significant increase of approximately 194.5%[140]. Risk Management and Financial Policies - The company’s financial risk management policies remain unchanged since year-end[97]. - The group’s overall risk management plan focuses on minimizing potential adverse impacts on financial performance due to market unpredictability[96]. - The company continues to apply significant accounting estimates and judgments consistent with those described in the 2019 financial statements[100].

Financial Performance - For the fiscal year ended December 31, 2019, the group's total revenue was HKD 515.1 million, with Macau contributing 43.9% through two reclamation projects[10]. - The group recorded revenue of HKD 515.1 million for the fiscal year 2019, an increase of approximately 33.9% compared to 2018, primarily due to growth in maritime construction activities in Macau[19]. - Maritime construction revenue increased by approximately 129.3% to HKD 308.4 million in 2019, mainly from two new reclamation projects in Macau generating about HKD 226.0 million and HKD 60.1 million from EPC projects, accounting for approximately 55.5% of total revenue[19]. - Revenue from maritime-related ancillary services decreased by approximately 17.4% to HKD 206.7 million in 2019, attributed to the completion of ongoing projects from 2018[20]. - The group's gross profit for 2019 was HKD 49.8 million, down from HKD 71.3 million in 2018, with a gross profit margin declining from 18.5% to 9.7% due to higher costs associated with maritime construction projects[21]. - The group reported a net profit of HKD 12.1 million for 2019, a decrease of 60.2% from HKD 30.4 million in 2018, influenced by changes in revenue composition and increased foreign exchange losses[27]. Project Developments - The acquisition of Qingdao Dongjie Construction Co., Ltd. resulted in contracts worth over RMB 1 billion, affirming the group's strategy in the Chinese construction market[6]. - The group is currently working on major projects with an estimated contract value of HKD 1,127.6 million for two residential complexes in Qingdao, expected to be completed between Q2 2022 and Q1 2023[15]. - The group has ongoing reclamation projects in Macau, with an estimated contract value of HKD 510.3 million, expected to be completed by Q3 2021[15]. - The group has secured a contract for marine-related ancillary services in Vietnam, valued at HKD 175.1 million, expected to be completed by Q4 2020[15]. - The group is negotiating and/or bidding for several large-scale potential projects, including office buildings and nursing home complexes in Qingdao, as well as marine construction projects in Thailand, the Philippines, and Indonesia[15]. Strategic Acquisitions - The group aims to diversify its business and expand revenue sources through the acquisition of an 80% stake in Dongjie Construction, primarily engaged in building construction in China[13]. - The group anticipates synergistic benefits from the acquisition of Dongjie Construction, enhancing its capabilities in both domestic and international markets[7]. - In 2019, the group completed the acquisition of 80% of Dongjie Construction for a consideration of approximately RMB 71.4 million, which was finalized on January 17, 2020[37]. Governance and Compliance - The board of directors has established four committees to oversee specific functions, ensuring effective governance and compliance with corporate governance policies[70]. - The audit committee is responsible for hiring auditors, reviewing financial information, and supervising the financial reporting system, risk management, and internal control systems[75]. - All directors confirmed compliance with the securities trading standards set forth in the listing rules for the fiscal year 2019[62]. - The company has adopted the corporate governance code as per the Hong Kong Stock Exchange and has complied with it throughout the fiscal year 2019[61]. - The company has implemented guidelines for employees who may possess insider information, with no violations reported in the fiscal year 2019[62]. Risk Management - The risk management committee oversees the effectiveness of the group's risk management and internal control systems, with updates based on the latest operational conditions[82]. - An external independent consultant was hired in 2019 to review the internal control system, covering areas such as risk assessment and management, sales processes, and human resources management[83]. - The company is actively involved in risk management and compliance, with key members overseeing these functions within the board committees[171][176]. Shareholder Relations - The company emphasizes effective communication with shareholders to enhance their understanding of the business and performance, with information available on the company website[92]. - The company has not declared any dividends for the fiscal year 2019[52]. - The board is committed to considering dividend distributions at least twice a year based on various factors including operational performance and financial condition[98]. Market Presence and Relationships - The group has established a strong presence in Hong Kong and Macau, with multiple subsidiaries operating in these regions[170]. - The company has established a close relationship with its major suppliers and customers, ensuring compliance with disclosure regulations under the listing rules[134]. - The company’s revenue from related party transactions was in compliance with the listing rules, indicating a structured approach to related party dealings[134]. Financial Position - As of December 31, 2019, the group had total current assets of approximately HKD 301.6 million and cash reserves of HKD 132.2 million, with a debt-to-equity ratio of 45.5%[33]. - The group invested approximately HKD 9.6 million in acquiring vessels and HKD 0.9 million in machinery and equipment during 2019, while the fleet size decreased by three vessels to a total of 41[35]. - The total employee costs for the group in 2019 were approximately HKD 64.3 million, an increase from HKD 54.2 million in 2018[49]. Audit and Financial Reporting - The group’s financial statements were prepared in accordance with Hong Kong Financial Reporting Standards and reflect a true and fair view of the group's financial position as of December 31, 2019[187]. - The independent auditor's report confirmed the adequacy of audit evidence obtained to support the opinion on the financial statements[189]. - The company paid a total of HKD 3,286,000 to auditors in 2019, with HKD 1,680,000 for audit services and HKD 1,606,000 for non-audit services[86].

Financial Performance - The group recorded revenue of HKD 171.8 million for the period, a decrease of approximately 33.3% compared to the previous period[13]. - The gross profit margin declined from 17.2% in the previous period to 10.1%, with gross profit decreasing by approximately 61.0% to HKD 17.3 million[13]. - The group’s profit for the period fell to HKD 7.0 million, a decrease of 77.2% from HKD 30.7 million in the previous period[17]. - Revenue for the six months ended June 30, 2019, was HKD 171,759,000, a decrease of 33.4% compared to HKD 257,683,000 for the same period in 2018[53]. - Gross profit for the same period was HKD 17,301,000, down 61.0% from HKD 44,376,000 in 2018[53]. - Operating profit decreased to HKD 5,430,000, a decline of 84.0% from HKD 33,966,000 in the previous year[53]. - Profit before tax was HKD 1,860,000, down 93.9% from HKD 30,719,000 in 2018[53]. - Net profit for the period was HKD 6,995,000, a decrease of 77.2% compared to HKD 30,695,000 in the same period last year[53]. - The total profit for the six months ended June 30, 2019, was HKD 6,995,000, compared to HKD 30,695,000 for the same period in 2018, representing a decrease of approximately 77.2%[109]. - Basic earnings per share for the six months ended June 30, 2019, was HKD 0.87, down 77.3% from HKD 3.84 in 2018[142]. Assets and Liabilities - Total assets as of June 30, 2019, amounted to HKD 899,518,000, an increase from HKD 819,353,000 at the end of 2018[67]. - Total liabilities increased to HKD 390,145,000 from HKD 319,673,000 at the end of 2018[67]. - Cash and cash equivalents rose to HKD 180,123,000, up from HKD 106,657,000 in the previous year[64]. - The total non-current assets as of June 30, 2019, were HKD 213,518,000, slightly down from HKD 217,620,000 as of December 31, 2018[126]. - The total lease liabilities as of June 30, 2019, included non-current liabilities of HKD 1,302,000 and current liabilities of HKD 3,491,000[150]. - Trade payables increased to HKD 39,430,000 as of June 30, 2019, from HKD 37,816,000 as of December 31, 2018[164]. - Total borrowings decreased to HKD 112,257,000 as of June 30, 2019, from HKD 139,746,000 as of December 31, 2018[166]. - The company provided guarantees for bank financing amounting to HKD 133,495,000 as of June 30, 2019, unchanged from December 31, 2018[172]. Cash Flow - Operating cash flow for the six months ended June 30, 2019, was HKD 102,117, compared to HKD 19,634 for the same period in 2018, representing a significant increase of 419%[74]. - Net cash generated from operating activities amounted to HKD 103,253, up from HKD 15,064 in the previous year, indicating a growth of 585%[74]. - Total cash and cash equivalents at the end of the period were HKD 180,123, down from HKD 200,324 at the end of June 2018, a decline of 10%[74]. Employee and Administrative Costs - The group had a total employee cost of approximately HKD 28.8 million for the period, down from HKD 30.7 million in the previous period, with 91 employees as of June 30, 2019[26]. - The company incurred employee costs of HKD 28,759,000 for the first half of 2019, compared to HKD 30,681,000 in the same period of 2018, reflecting a decrease of approximately 6.3%[127]. - The group’s administrative expenses for the period were approximately HKD 10.2 million, remaining similar to the previous period[15]. - Total compensation paid to key management personnel was HKD 2,302,000 for the six months ended June 30, 2019, down from HKD 3,439,000 in 2018, representing a decrease of about 33.1%[181]. Contracts and Projects - The group held major project contracts valued at HKD 552.6 million and HKD 692.3 million in Macau, with expected completion in Q2 2022 and Q1 2021 respectively[12]. - The group’s contract assets increased due to initial costs incurred from a recently awarded reclamation project in Macau[20]. - Contract assets for construction services amounted to HKD 75,161,000 as of June 30, 2019, down from HKD 78,143,000 as of December 31, 2018[160]. - Contract liabilities for construction services increased significantly to HKD 199,682,000 as of June 30, 2019, compared to HKD 100,900,000 as of December 31, 2018[160]. Corporate Governance and Compliance - The company has complied with the corporate governance code as set out in the listing rules throughout the period[44]. - All directors confirmed compliance with the standard code during the period up to the report date[45]. - The company did not recommend the payment of dividends for the period[47]. - The company did not recommend an interim dividend for the six months ended June 30, 2019, consistent with the previous year[139]. Future Outlook and Strategy - The group is actively exploring opportunities in Southeast Asia to diversify its revenue base and mitigate uncertainties in the Hong Kong market[8]. - The company plans to continue focusing on expanding its maritime-related services and improving operational efficiency in the upcoming periods[110]. - The company has adopted new accounting standards effective January 1, 2019, which may impact future financial reporting and performance[86].

瑞 港 建 設 控 股 有 限 公 司 Prosper Construction Holdings Limited (於開曼群島註冊成立的有限公司) 股份代號：6816 20 I 00 公司资料 2 3 主席報告 ll 企業管治報告 18 董事會報告 32 35 獨立核數師報告 42 43 45 46 47 ll4 五年財務概要 4 管理層討論及分析 公司資料 | --- | --- | |-----------------------------|----------------------------------------| | | | | 執行董事 | 註冊辦事處 | | 劉魯強先生(主席) | Cricket Square, Hutchins Drive | | 崔琦先生(行政總裁) | P.O. Box 2681 | | 朱江峰先生 | Grand Cayman, KY1-1111 | | 薛清富先生 | Cayman Islands | | 非執行董事 | 總部及香港主要營業地點 | | 王學軍先生 | 香港北角 | | 獨立非執行董事 張志文先生 | 渣華道191號嘉華國際中心 5樓04-05 ...