Financial Performance - For the fiscal year ending December 31, 2024, the company's revenue was approximately HKD 187.958 million, a slight increase from HKD 187.889 million in 2023[9]. - Gross profit increased by 11.2% to HKD 89.968 million compared to HKD 80.906 million in the previous year[9]. - Profit attributable to owners from continuing and discontinued operations was HKD 12.557 million, up 7.5% from HKD 11.677 million in 2023[9]. - The company’s earnings per share from continuing and discontinued operations increased by 9.6% to HKD 1.26, compared to HKD 1.15 in 2023[9]. - The group's revenue from continuing operations for 2024 was approximately HKD 188 million, remaining stable compared to 2023[26]. - The profit attributable to the company's owners from continuing operations was approximately HKD 5.3 million, showing relative stability compared to 2023[26]. Financial Position - The company maintained a strong financial position with cash totaling approximately HKD 293.760 million, a 15.5% increase from HKD 254.281 million in 2023[10]. - The company’s current ratio improved to 2.8 from 2.1, indicating better short-term financial health[10]. - The group's total equity decreased to approximately HKD 708.8 million in 2024 from HKD 763.3 million in 2023, influenced by the sale of highway maintenance equity and currency translation adjustments[60]. - The net current assets as of December 31, 2024, were approximately HKD 474.2 million, down from HKD 485.7 million in 2023[60]. - As of December 31, 2024, the total debt of the group is HKD 117.5 million, an increase from HKD 99.1 million in 2023[63]. Revenue Segments - The asphalt pavement maintenance service segment's revenue increased due to a rise in the total service area of the "in-situ thermal regeneration" project, with a gross margin increase from 42.7% in 2023 to 46.5% in 2024[29]. - Revenue from the "in-situ thermal regeneration" project reached HKD 169,101 thousand for the year ended December 31, 2024, representing a 21.4% increase from HKD 139,299 thousand in 2023[45]. - Revenue from the asphalt pavement maintenance equipment segment decreased by 61.2% to approximately HKD 18.857 million in 2024, compared to HKD 48.590 million in 2023[47]. Market Outlook - The company anticipates that the highway maintenance market in China will exceed RMB 500 billion over the next five years, with preventive maintenance expected to account for over 40%[18]. - The Chinese government is expected to maintain high growth in road maintenance investment, with fiscal spending projected to exceed RMB 100 billion, marking the arrival of the "full maintenance era"[37]. Innovation and Development - The company plans to enhance its green and low-carbon transformation in line with national policies, focusing on innovative technologies in the maintenance sector[16]. - The group aims to launch a third-generation modular device with self-adjusting learning capabilities by 2025, significantly improving operational precision and efficiency under complex road conditions[5]. - The company developed the PM800, an innovative automated in-situ thermal regeneration repair vehicle, which can be operated remotely by a single operator[34]. - The company also launched the FDR3000, a high-capacity flood control vehicle designed to adapt to various flood environments[34]. Research and Development - The group plans to establish two low-carbon maintenance technology research and development centers within the year and collaborate with leading automotive companies to develop new energy maintenance equipment[5]. - The company registered a total of 256 patents as of December 31, 2024, up from 238 in 2023, including 37 invention patents, 189 utility model patents, and 30 design patents[34]. Corporate Governance - The company is committed to high levels of corporate governance to protect shareholder interests and enhance corporate value through expansion into asphalt pavement maintenance business[95]. - The board consists of nine members, including two executive directors, four non-executive directors, and three independent non-executive directors[99]. - The company has established an internal control system to monitor and balance power within the board[95]. - The company has adopted the standard code for securities trading by directors, ensuring compliance throughout the year[96]. Shareholder Engagement - The company encourages shareholder participation in annual general meetings to enhance transparency and communication[130]. - The board has the discretion to declare dividends based on operational performance, cash flow, and financial conditions, subject to shareholder approval[137]. - The company maintains a website for regular updates on business operations, financial data, and other relevant information for public access[134]. Risk Management - The company has established credit policies and internal controls to assess and collect trade receivables, particularly from local government departments in China[62]. - The company is focusing on expanding its customer base to mitigate risks associated with fluctuations in local government spending on road maintenance[80]. - The management's estimation of expected credit losses involves subjective judgment and management estimates, making it a key audit matter[190]. Audit and Compliance - The independent auditor's report confirms that the consolidated financial statements fairly reflect the group's financial position as of December 31, 2024[186]. - The audit committee assists the board in overseeing the financial reporting process[196]. - The company has established a policy for information disclosure and regularly reminds directors and employees to comply with insider trading regulations[121].

Financial Performance - The company reported a total revenue of HKD 187,958,000 for the fiscal year ending December 31, 2024, representing an increase of 11.2% compared to HKD 187,889,000 in the previous year[3]. - Gross profit for the same period was HKD 89,968,000, up from HKD 80,906,000, indicating a significant improvement in profitability[4]. - The net profit attributable to shareholders from continuing operations was HKD 12,557,000, reflecting a 7.5% increase from HKD 11,677,000[3]. - Basic earnings per share from continuing and discontinued operations rose to HKD 1.26, a 9.6% increase from HKD 1.15[3]. - The company achieved a net profit of HKD 21,300,000 for the year, compared to HKD 28,382,000 in the previous year, showing a decrease in overall profitability[4]. - The company reported other income of HKD 5,884,000, significantly higher than HKD 2,509,000 from the previous year[4]. - The company experienced a decrease in total comprehensive income from HKD 28,382,000 to HKD 21,300,000, highlighting challenges in maintaining profitability[4]. - The company’s administrative expenses rose to HKD 63,146,000 from HKD 61,187,000, reflecting increased operational costs[4]. - The total comprehensive income for the year was HKD (27,222) thousand, compared to HKD (17,301) thousand in the previous year, indicating a decline[5]. - The profit attributable to equity holders of the company was HKD 12,557 thousand, up from HKD 11,677 thousand year-over-year[6]. - The profit from discontinued operations was HKD 7,284 thousand, compared to HKD 6,365 thousand in the previous year, indicating growth[6]. - The total comprehensive income for the year included a foreign exchange loss of HKD (25,433) thousand, compared to HKD (16,295) thousand in the previous year[5]. Assets and Liabilities - Total assets decreased from HKD 940,614,000 in 2023 to HKD 732,891,000 in 2024, representing a decline of approximately 22%[7]. - Current liabilities decreased from HKD 454,916,000 in 2023 to HKD 258,657,000 in 2024, a reduction of about 43%[8]. - Cash and cash equivalents increased from HKD 246,688,000 in 2023 to HKD 279,258,000 in 2024, showing an increase of approximately 13%[7]. - Total equity decreased from HKD 763,315,000 in 2023 to HKD 708,766,000 in 2024, a decline of about 7%[8]. - The company reported a net asset value of HKD 708,766,000 in 2024 compared to HKD 763,315,000 in 2023, indicating a decrease of approximately 7%[9]. - The company’s total liabilities decreased from HKD 781,329,000 in 2023 to HKD 724,635,000 in 2024, a reduction of about 7%[7]. - The company’s total non-current assets decreased from HKD 295,631,000 in 2023 to HKD 250,401,000 in 2024, a decline of approximately 15%[7]. Revenue Segmentation - Total revenue from customer contracts reached HKD 187,958,000, with HKD 169,101,000 from ongoing operations and HKD 18,857,000 from sales of equipment[16]. - Revenue from the mainland China market accounted for HKD 185,131,000, while overseas revenue was HKD 2,827,000[16]. - The maintenance services segment generated HKD 139,299,000, while the sales equipment segment contributed HKD 48,590,000 to total revenue[17]. - Revenue from the asphalt pavement maintenance service segment increased, while the revenue from the asphalt pavement maintenance equipment segment decreased by 61.2% compared to 2023[61]. Research and Development - Research and development expenses increased to HKD 14,435,000 from HKD 12,288,000, indicating a focus on innovation and new product development[4]. - The group registered a total of 256 patents as of December 31, 2024, an increase from 238 in 2023[63]. - The group developed the industry's first automated in-situ thermal regeneration repair vehicle PM800, which requires only one operator for remote operation[64]. - The group also developed a large-capacity flood control vehicle FDR3000 to address severe flooding challenges[64]. Market Strategy and Future Outlook - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[2]. - The company aims to explore overseas business opportunities and strategic collaborations with other companies, including listed companies and large state-owned enterprises[68]. - The company plans to enhance market penetration, especially in cities with limited use of "in-situ thermal regeneration" technology[69]. - The company remains confident in its business outlook and aims to provide higher returns to shareholders by leveraging technology[70]. Corporate Governance and Compliance - The board is committed to high standards of corporate governance to protect shareholder interests and enhance corporate value[103]. - The audit committee has reviewed the consolidated financial statements for the year ending December 31, 2024[105]. - The company has not identified any violations of employee trading guidelines during the year[108]. Employee and Operational Metrics - The group employed 295 full-time employees as of December 31, 2024, up from 264 in 2023[102]. - Total employee costs increased to HKD 42,616 million in 2024 from HKD 33,708 million in 2023, marking an increase of about 26.4%[35]. - Administrative expenses rose by approximately 3.1% from about HKD 61.2 million in 2023 to approximately HKD 63.1 million in 2024, mainly due to increased legal and professional fees related to the sale of highway maintenance equity[79]. Financial Position and Cash Flow - The group maintains a solid cash position and is committed to effectively utilizing financial resources to support business expansion needs[91]. - The group's bank balances and cash, including pledged and restricted deposits, amounted to approximately HKD 293.8 million as of December 31, 2024, up from HKD 254.3 million in 2023, primarily due to cash generated from operating activities and the sale of a subsidiary[88]. - The net proceeds from the IPO amount to approximately HKD 687 million, with allocations for R&D, new production facilities, and general corporate purposes[94].

@ Freetech 英達科技 英達公路再生科技(集團)有限公司 Freetech Road Recycling Technology ( Holdings ) Limited (Incorporated in the Cayman Islands with limited liability) (於開曼群島註冊成立的有限公司) Stock Code 股份代號：6888 I同领先 INTERIM REPORT 中期報告 '公路嘴尘" 目錄 2 公司資料 本中期報告以環保紙張印刷 2 3 管理層討論及分析 3 15 企業管治報告及其他資料 15 20 簡明綜合損益及其他全面收入表 20 21 簡明綜合財務狀況表 21 23 簡明綜合權益變動表 23 25 簡明綜合現金流量表 25 27 簡明綜合中期財務報表附註 27 簡明綜合中期財務報表附註 本中期報告以環保紙張印刷 公司資料 林恩善先生 | --- | --- | |--------------------------------------|----------------------------------| | | | | 董事曾 | 集團總部及香港主 ...

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 分 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：6888） 截 至 二 零 二 四 年 六 月 三 十 日 止 六 個 月 期 間 中 期 業 績 公 告 英 達 公 路 再 生 科 技（集 團）有 限 公 司（「本 公 司」）董 事 會（「董 事 會」）欣 然 公 佈 本 公 司 及 其 附 屬 公 司（統 稱「本 集 團」）截 至 二 零 二 四 年 六 月 三 十 日 止 六 個 月 期 間（「本 期 間」）之 未 經 審 核 綜 合 中 期 業 績。 財 務 摘 要 | --- | --- | --- | --- | |------------------------------------------------- ...

Financial Performance - For the fiscal year ending December 31, 2023, the company's revenue was approximately HKD 543.1 million, an increase of 13.6% compared to HKD 478.3 million in 2022[6] - The gross profit for the same period was HKD 116.8 million, reflecting an 18.9% increase from HKD 98.3 million in the previous year[6] - The profit attributable to the company's owners was approximately HKD 11.7 million, a significant turnaround from a loss of HKD 32.5 million in 2022, marking a 136.0% improvement[6] - Basic earnings per share improved to HKD 1.15 from a loss of HKD 3.19, representing a 136.1% increase[6] - The gross profit margin increased to 21.5% from 20.6%, reflecting a 4.4% improvement year-over-year[7] - The asphalt pavement maintenance service segment recorded revenue of approximately HKD 494.5 million, an increase of 8.7% from 2022, with a gross margin rising from 38.8% to 42.7%[23] - The asphalt pavement maintenance equipment segment saw a significant revenue increase of 108.0% in 2023, primarily due to delayed capital investments from local governments and successful sales of modular equipment[25] - The total revenue for the asphalt pavement maintenance services increased by 8.7% to HKD 494.5 million in 2023, compared to HKD 454.9 million in 2022[40] - The revenue from the "in-situ thermal regeneration" projects rose by 1.4% to HKD 139.3 million, while the revenue from non-"in-situ thermal regeneration" projects increased by 11.9% to HKD 355.2 million[40] - The gross profit margin for the "in-situ thermal regeneration" projects improved to 42.7% in 2023 from 38.8% in 2022, while the overall gross profit margin increased to 19.3%[40] Financial Position - As of December 31, 2023, the company's cash and cash equivalents totaled approximately HKD 254.3 million, a decrease of 11.2% from HKD 286.3 million in 2022[7] - The company maintained a healthy financial position with a current ratio of 2.1, up 10.5% from 1.9 in the previous year[7] - As of December 31, 2023, total equity was approximately HKD 763.3 million, an increase from HKD 755.1 million in 2022, driven by profit attributable to owners and currency translation adjustments[57] - The net current asset value as of December 31, 2023, was approximately HKD 485.7 million, up from HKD 456.8 million in 2022, with a current ratio of 2.1 times[57] - The investment property valued at approximately HKD 140.9 million as of December 31, 2023, is being developed into a global R&D center, with completion expected in Q4 2025[64] Strategic Outlook - The company anticipates that the demand for road maintenance services will accelerate due to the backlog of maintenance needs post-COVID-19, which is expected to drive revenue growth[11] - The outlook for 2024 indicates challenges due to geopolitical tensions and inflation risks, but the long-term trend for China's economy remains positive[13] - The company plans to explore low-carbon, environmentally friendly industrial parks as new business growth points[19] - The company aims to contribute to sustainable development in the asphalt maintenance industry through advanced technology and customized solutions[30] - The company plans to enhance market penetration, especially in cities with limited use of "in-situ thermal regeneration" technology[36] - The company aims to expand its product offerings and develop new products for the road industry[36] - The company is committed to investing more in testing and planning departments to strengthen its one-stop solution and create new revenue sources[36] - The company is exploring overseas opportunities through strategic partnerships with state-owned enterprises and other companies[33] Research and Development - The company registered a total of 238 patents as of December 31, 2023, up from 222 in 2022, including 30 invention patents[29] - The company developed a cloud-based intelligent monitoring platform for its modular series equipment, enhancing operational efficiency and real-time monitoring capabilities[29] - The company is actively investing in technology innovation to maintain its leading position in the asphalt pavement maintenance industry[28] - The company has utilized HKD 140.2 million for R&D, with an expected completion before 2025[67] - The company is investing G million in R&D for new technologies, aiming to improve efficiency and reduce costs by H%[97] Governance and Compliance - The board consists of nine members, including two executive directors, four non-executive directors, and three independent non-executive directors[109] - The company has adopted the corporate governance code and has complied with the relevant principles, except for the separation of the roles of chairman and CEO, which is currently held by the same individual[103] - The board has established a system of internal controls to ensure effective monitoring and checks and balances[103] - The company has received annual independence confirmation letters from all independent non-executive directors, affirming their compliance with independence guidelines[113] - The board has set up a remuneration committee, nomination committee, and audit committee, with satisfactory attendance at meetings during the year[120] - The company is committed to continuous professional development for all directors, ensuring they stay updated on legal and regulatory changes[119] - The board retains decision-making authority over significant matters, including financial data and major transactions[116] - The company plans to consider separating the roles of chairman and CEO as it grows in scale[110] Risk Management - The company faces significant risks related to its revenue dependence on the sale of asphalt maintenance equipment and services to local governments in China, which may be affected by fluctuations in government spending and inflation[81] - The company plans to diversify its customer base to mitigate risks associated with potential declines in government spending on road maintenance[81] - The company is enhancing its credit control and collection policies to minimize credit risk associated with trade receivables[84] - The company is adopting environmental compliance policies to meet stricter regulations imposed by the Chinese government, which may lead to additional costs for updating environmental equipment[85] Related Party Transactions - The related party transactions with Tianjin Expressway Group include service agreements with a total value of RMB 25,593,000 for the period from June 3, 2023, to August 31, 2023[193] - Additional related party transactions with Tianjin Expressway Group amount to RMB 14,050,000 and RMB 10,622,000 for the same service period[194] - The company has maintained a strong relationship with Tianjin Expressway Group, engaging in multiple service agreements to enhance operational efficiency[194] - The total value of related party transactions for the year reflects the company's ongoing collaboration with key stakeholders in the industry[193] Shareholder Information - The company has a total of 529,688,260 shares held by major shareholders, representing approximately 49.09% of the issued share capital[179] - The company does not recommend declaring any interim dividends for the six months ending June 30, 2023, and similarly, no dividends are suggested for the year ending December 31, 2023[157] - As of December 31, 2023, the company's distributable reserves amount to approximately HKD 597.2 million, a decrease from HKD 617.3 million in 2022[166] - Sales to the top five customers accounted for approximately 59.3% of total sales for the year, with the largest customer representing about 42.9% of total sales[167] - The company made charitable donations totaling HKD 61,000 during the review year[168]

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 分 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：6888） 截 至 二 零 二 三 年 十 二 月 三 十 一 日 止 年 度 之 年 度 業 績 公 告 英 達 公 路 再 生 科 技（集 團）有 限 公 司（「本 公 司」）董 事 會（「董 事 會」）欣 然 宣 佈 本 公 司 及 其 附 屬 公 司（統 稱「本 集 團」）截 至 二 零 二 三 年 十 二 月 三 十 一 日 止 年 度 之 綜 合 業 績。 財 務 摘 要 | | | | | | | | | | | 截 | 至 | 十 | 二 | 月 | 三 | 十 | 一 | 日 | | | | | --- | --- | --- | --- | --- | -- ...

Financial Performance - The company's revenue for the six months ended June 30, 2023, was approximately HKD 164.04 million, a decrease of 9.3% compared to HKD 180.90 million in the same period of 2022[6]. - Gross profit increased by 37.6% to HKD 29.08 million, resulting in a gross profit margin of 17.7%, up from 11.7% in the previous year[6]. - The profit attributable to the company's owners was approximately HKD 2.28 million, a significant improvement of 123.4% compared to a loss of HKD 9.75 million in the same period last year[6]. - The total revenue for the asphalt pavement maintenance services decreased by 22.0% to HKD 132.5 million in the first half of 2023, compared to HKD 169.8 million in the same period of 2022[28]. - The revenue from "in-situ thermal regeneration" projects dropped by 19.3% to HKD 30.1 million, despite an increase in service area from 361,000 square meters to 520,000 square meters[28]. - The company reported a significant increase in bank borrowings, raising HKD 50,630 thousand in the current period compared to HKD 23,730 thousand in the previous year, marking an increase of 113.5%[97]. - The company reported a loss before tax of HKD 7,615,000 for the six months ended June 30, 2023, compared to a loss of HKD 9,750,000 in the same period of 2022, showing an improvement[119]. Revenue Segmentation - Revenue from maintenance services was HKD 132,500,000, while equipment sales contributed HKD 31,543,000, indicating a significant reliance on maintenance services[103]. - The "In-situ Thermal Regeneration" project generated HKD 30,125,000 in revenue, while non-"In-situ Thermal Regeneration" projects accounted for HKD 102,375,000[103]. - The asphalt pavement maintenance service segment recorded revenue of approximately HKD 132.50 million, a decrease of 22.0% compared to the previous year, but the gross profit margin improved from 9.2% to 10.6%[12]. Technological Innovation - The company continues to focus on technological innovation to maintain its leading position in the asphalt pavement maintenance industry[14]. - A cloud-based intelligent monitoring platform was developed for the modular series equipment, allowing real-time monitoring of operational parameters[17]. - The company has developed a new technology and materials for repairing manhole structures, expected to gain popularity in the asphalt pavement maintenance industry[18]. Cost Management - Sales and distribution costs rose from HKD 7.0 million to HKD 10.1 million, an increase of approximately HKD 3.1 million, attributed to increased travel and promotional expenses following the easing of COVID-19 restrictions[36]. - Administrative expenses increased from HKD 32.8 million to HKD 34.6 million, a rise of approximately HKD 1.8 million, mainly due to increased travel expenses and employee costs[37]. - R&D costs increased from HKD 6.9 million to HKD 7.3 million, an increase of approximately HKD 0.4 million, reflecting the company's increased investment in R&D[38]. Assets and Liabilities - Cash and cash equivalents decreased to approximately HKD 249.9 million from HKD 286.3 million, primarily due to cash used in operating activities and increased bank borrowings[45]. - Trade receivables and contract assets decreased by approximately 19.5% from HKD 758.3 million to HKD 610.5 million, mainly due to the recovery of long-term overdue balances[45]. - Total debt increased to HKD 93.7 million from HKD 91.2 million, including secured bank borrowings of HKD 33.5 million and unsecured bank borrowings of HKD 60.2 million[50]. Shareholder Information - The company’s major shareholders include Mr. Shi, holding approximately 50.30% of the issued share capital[61]. - Major shareholders include Yingda Technology with 529,688,260 shares, representing 49.09% of the issued share capital[65]. - Bank of Communications Trustee holds 70,419,200 shares, accounting for 6.53% of the issued share capital, having increased from 64,819,200 shares[65]. Employee and Management - As of June 30, 2023, the company employed 492 full-time employees, with total employee costs amounting to HKD 38.3 million[59]. - The company emphasizes employee development and offers competitive compensation packages, including discretionary bonuses and medical insurance[59]. - The total remuneration for key management personnel increased to HKD 2,274,000 in 2023 from HKD 2,212,000 in 2022, an increase of 2.8%[162]. Corporate Governance - The company is committed to maintaining high standards of corporate governance to protect shareholder interests and enhance corporate value[78]. - The board of directors confirmed compliance with the securities trading standards throughout the reporting period[81]. Future Plans - The company plans to enhance market penetration, especially in cities with limited use of "in-situ thermal regeneration" technology[24]. - The company aims to expand its product offerings and develop new products for the road industry[24]. - The company is committed to investing more in testing and planning departments to strengthen its one-stop solution and create new revenue sources[24].

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分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：6888） 截 至 二 零 二 三 年 六 月 三 十 日 止 六 個 月 期 間 中 期 業 績 公 告 英達公路再生科技（集團）有限公司（「本公司」）董事會（「董事會」）欣然公佈 本公司及其附屬公司（統稱「本集團」）截至二零二三年六月三十日止六個 月期間（「本期間」）之未經審核綜合中期業績。 財務摘要 截至六月三十日止 六個月期間 二零二三年 二零二二年 增加╱ 未經審核 未經審核 （減少） 千港元 千港元 收益 164,043 180,899 (9.3%) ...

Financial Performance - The company's revenue for the year ended December 31, 2022, was approximately HKD 478.3 million, a decrease of 6.5% compared to HKD 511.6 million in 2021[4] - The gross profit for the same period was HKD 98.3 million, reflecting a decline of 23.6% from HKD 128.6 million in the previous year[4] - The loss attributable to the company's owners was approximately HKD 32.5 million, a significant increase of 201.7% compared to a profit of HKD 31.9 million in 2021[4] - The basic loss per share was HKD 3.19, compared to earnings of HKD 3.13 per share in the prior year, marking a 201.9% decline[4] - The company's equity attributable to owners was HKD 722.3 million, a decrease of 11.8% from HKD 819.0 million in the previous year[5] - The gross margin for the year was 20.6%, down from 25.1% in 2021, indicating a decline of 17.9%[5] - The net loss margin was (8.2%) compared to a profit margin of 8.7% in the previous year, reflecting a 194.3% decline[5] - In 2022, the company's operating revenue was approximately HKD 478.3 million, a decrease of about 6.5% compared to 2021[20] - The loss attributable to shareholders was approximately HKD 32.5 million, compared to a profit of approximately HKD 32.0 million in 2021[20] Cash and Assets - As of December 31, 2022, the company's cash and cash equivalents totaled approximately HKD 286.3 million, down 7.7% from HKD 310.3 million in 2021[5] - The group reported a loss attributable to owners of approximately HKD 32.5 million in 2022, compared to a profit of about HKD 32.0 million in 2021, due to various factors including reduced revenue from asphalt maintenance services[49] - As of December 31, 2022, total equity was approximately HKD 755.1 million, down from HKD 863.8 million in 2021, primarily due to the loss attributable to owners and currency translation adjustments[50] - The net current asset value decreased to approximately HKD 456.8 million as of December 31, 2022, from HKD 533.3 million in 2021, with a current ratio of 1.9 times[50] - Cash and cash equivalents decreased to approximately HKD 286.3 million as of December 31, 2022, from HKD 310.3 million in 2021, mainly due to cash used in operating activities and currency depreciation[51] Revenue Segments - Revenue from the asphalt pavement maintenance service segment decreased by 21.9% due to the impact of COVID-19 restrictions[22] - The revenue from the asphalt pavement maintenance service segment was approximately HKD 454.9 million, an increase of 2.7% compared to 2021[22] - The revenue from the asphalt pavement maintenance equipment segment decreased significantly by 66.0% due to postponed capital investments[24] - In 2022, the revenue from the "in-situ thermal regeneration" projects was HKD 137.39 million, a decrease of 21.9% from HKD 175.97 million in 2021[37] - The revenue from non-"in-situ thermal regeneration" projects increased by 19.0% to HKD 317.51 million in 2022, compared to HKD 266.87 million in 2021[37] - The revenue from the asphalt pavement maintenance equipment segment dropped significantly by 66.0% to HKD 23.36 million in 2022, down from HKD 68.78 million in 2021[39] Operational Challenges - The company faced operational challenges due to COVID-19 restrictions, impacting its ability to provide road maintenance services and resulting in increased credit loss risks[9] - The group’s share of losses from joint ventures increased from approximately HKD 2.3 million in 2021 to about HKD 8.2 million in 2022, impacted by COVID-19 and impairment losses on property and trade receivables[46] - The company faces credit risk due to potential delays in collecting trade receivables, particularly from local governments, and is enhancing its credit control and collection policies[75] Strategic Initiatives - The company anticipates continued growth in government investment in road maintenance, with projected fiscal spending expected to exceed HKD 100 billion by 2026[13] - The company is actively pursuing digital transformation in road maintenance services to enhance efficiency and service quality[1] - The company aims to create more investment returns for shareholders while contributing to the sustainable development of road maintenance services in the country[1] - The company plans to enhance market penetration, especially in cities with limited use of "in-situ thermal regeneration" technology[34] - The company aims to expand its product range and develop new products for the road industry[34] - The company is exploring overseas opportunities and strategic partnerships, particularly in countries along the "Belt and Road" initiative and the Four Asian Tigers[32] Research and Development - The company registered a total of 222 patents as of December 31, 2022, an increase from 210 in 2021[28] - The company has developed a new preventive maintenance technology for asphalt pavement, which is expected to be well-received in the industry[28] - The construction of investment properties in Nanjing, initiated in Q1 2022, is expected to enhance the company's R&D capabilities and provide additional revenue sources[33] - The group has allocated HKD 137.4 million for R&D business investment, with no funds utilized in the review year due to the lack of suitable joint venture partners or acquisition targets[60] Governance and Compliance - The company emphasizes the importance of maintaining strong relationships with stakeholders, including employees, customers, suppliers, and government entities, to ensure sustainable development[71] - The company has established an internal control system to ensure effective monitoring and checks within its governance framework[96] - The board consists of nine members, including two executive directors, four non-executive directors, and three independent non-executive directors[103] - The company has appointed two new independent non-executive directors as of December 30, 2022, to comply with corporate governance code requirements[97] - The company has established specific committees (remuneration, nomination, and audit) with defined responsibilities to enhance governance[112] - The board's composition includes leaders with diverse backgrounds in industry, accounting, finance, and academia, contributing to informed decision-making[120] Shareholder Information - The company has not established a dividend policy, with future dividends subject to board discretion based on various factors[148] - The company's distributable reserves as of December 31, 2022, were approximately HKD 617.3 million, a decrease from HKD 665.9 million in 2021[157] - Sales to the top five customers accounted for approximately 55.0% of total sales for the year, with the largest customer representing about 33.5%[158] - The company made charitable donations amounting to HKD 705,000 during the year[159] - The company has a total of 542,688,260 shares held by Mr. Shi, representing approximately 50.30% of the issued share capital[165] Related Party Transactions - The company engaged in continuous related transactions with Tianjin Expressway Group, with actual transaction amounts for the year reaching RMB 38,675,000 (approximately HKD 44,861,000) for Tianjin Expressway Group[183] - The independent non-executive directors confirmed that the related transactions were conducted under normal commercial terms and in the best interest of shareholders[188] - The company has complied with the disclosure requirements of the listing rules regarding related party transactions[191]

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分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：6888） 截 至 二 零 二 二 年 十 二 月 三 十 一 日 止 年 度 之 年 度 業 績 公 告 英達公路再生科技（集團）有限公司（「本公司」）董事會（「董事會」）欣然宣佈 本公司及其附屬公司（統稱「本集團」）截至二零二二年十二月三十一日止 年度之綜合業績。 財務摘要 截至十二月三十一日 止年度 （減少）╱ 二零二二年 二零二一年 增加 千港元 千港元 ...