智通财经APP讯，圣唐控股(08305)发布截至2025年6月30日止六个月的中期业绩，收益7151.2万港元， 同比减少17.03%;期内溢利18.9万港元，同比减少80.91%;每股基本盈利0.01港仙。 ...

香 港 交易 及 結 算 所 有限 公 司 及 香港 聯 合 交 易 所有 限 公 司 對 本公 告 的 內 容概 不 負 責， 對 其 準 確 性或 完 整 性 亦不 發 表 任 何 聲明 ， 並 明 確 表示 ， 概 不 會對 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 的 任 何 損失 承擔任何責任。 SHENG TANG HOLDINGS LIMITED 聖 唐 控 股 有 限 公 司 (於開曼群島註冊成立之有限公司) (股份代號: 8305) 截至二零二五年六月三十日止六個月之 中期業績公告 聖唐控股有限公司（「本公司」）董事（「董事」）會（「董事會」）宣佈本公司及其 附屬公司截至二零二五年六月三十日止六個月的未經審核簡明綜合業績。 本公告 列載本公 司二零二五 年度中期 業績報告（「中期業 績報告」）全文，符 合聯交所GEM證券上市規則（「GEM上市規則」）中有關中期業績初步公告附 載資料的相關要求。載有GEM上市規則規定資料的中期業績報告的印刷版 本，將於適當時候以GEM上市規則所規定方式寄發予本公司股東。 承董事會命 聖唐控股有限公司 主席 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 | 截至月份: | 2025年7月31日 | 狀態: | 新提交 | | --- | --- | --- | --- | | 致：香港交易及結算所有限公司 | | | | | 公司名稱: | 聖唐控股有限公司 | | | | 呈交日期: | 2025年8月1日 | | | | I. 法定/註冊股本變動 | | | | | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 08305 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 10,000,000,000 | HKD | | 0.01 HKD | | 100,000,000 | | 增加 / 減少 (-) | | | | | | HKD | | | | 本月底結存 | | | 10 ...

Financial Performance - Total revenue increased by approximately HKD 6.6 million or 4.6% to about HKD 150 million for the year ended December 31, 2024, compared to approximately HKD 143.4 million for the previous year[9]. - Revenue increased from approximately HKD 143.4 million for the year ended December 31, 2023, to approximately HKD 150 million for the year ended December 31, 2024, representing a growth of about 4.6%[15]. - The group reported a loss attributable to owners of approximately HKD 3.1 million for the year ended December 31, 2024, down from approximately HKD 30.3 million for the previous year[23]. - The company reported a loss before tax of HKD 3,093,000, improving from a loss of HKD 30,756,000 in the previous year[180]. - The group reported a loss of HKD 3,140,000 for the year ending December 31, 2024, compared to a loss of HKD 30,321,000 in 2023[194]. - Basic and diluted loss per share improved to HKD 0.30 from HKD 2.89 in 2023[180]. - The company reported a total loss and comprehensive expenses of HKD (30,321,000) for the year ended December 31, 2023, which decreased to HKD (3,140,000) in 2024[184]. Revenue and Projects - The group undertook 238 projects generating revenue in the year ended December 31, 2024, up from 182 projects in the previous year[13]. - The group secured 98 new projects with a total contract value of approximately HKD 96.8 million during the reporting period[13]. - The group reported revenue from construction contracts of approximately HKD 150,023,000 for the year ended December 31, 2024[164]. - Revenue for the year ended December 31, 2024, was HKD 150,023,000, an increase of 4.3% from HKD 143,405,000 in 2023[180]. Cost and Expenses - Cost of sales rose from approximately HKD 135.5 million to approximately HKD 140.2 million, an increase of about 3.5%, primarily due to increased subcontracting costs driven by higher revenue[16]. - Gross profit increased from approximately HKD 7.9 million to approximately HKD 9.8 million, with the overall gross margin improving from about 5.5% to approximately 6.5%[17]. - Administrative expenses decreased by approximately HKD 19.3 million or 58.3%, from about HKD 33.1 million to approximately HKD 13.8 million, mainly due to effective cost control measures implemented in 2024[18]. - Other income rose from HKD 0.9 million to HKD 1.3 million, primarily from the sale of vehicles during the year[19]. Financial Position - Total assets as of December 31, 2024, were HKD 130,239,000, compared to HKD 125,375,000 in 2023, reflecting a growth of 3.0%[181]. - Current liabilities decreased to HKD 87,589,000 from HKD 90,983,000, a reduction of 3.9%[181]. - Net current assets increased to HKD 42,650,000 from HKD 34,392,000, an increase of 24.0%[181]. - The company's total equity increased to HKD 49,398,000 in 2024 from HKD 41,471,000 in 2023, representing a growth of approximately 19.4%[183]. - The company's share capital rose from HKD 10,500,000 in 2023 to HKD 12,600,000 in 2024, an increase of 20%[184]. Governance and Compliance - The company has adhered to all applicable corporate governance codes as of December 31, 2024, ensuring transparency and accountability[39]. - The board consists of six members, including one executive director and three independent non-executive directors, promoting effective governance and strategic implementation[41]. - The company held four board meetings during the year ending December 31, 2024, with full attendance from the chairman and independent directors[52]. - The company has adopted a board diversity policy, considering various measurable categories such as gender, age, and professional experience in board member selection[48]. - The audit committee is composed of three independent non-executive directors, ensuring compliance with GEM listing rules and corporate governance codes[61]. Risk Management - The company has established a risk management and internal control system, which is regularly reviewed by the audit committee to ensure its effectiveness[63]. - The risk management framework aims to identify and manage risks at an acceptable level while achieving strategic objectives[78]. - The company has implemented a three-tier risk management approach to identify, analyze, assess, mitigate, and respond to risks[78]. - The management's ability to implement plans and measures to improve financial conditions is subject to significant uncertainty[196]. Market Conditions - The construction industry in Hong Kong remains relatively stable, but economic uncertainties and rising labor and material costs pose challenges[10]. - The demand for RMAA and cathodic protection services remains stable, indicating a consistent market need[13]. - The company recognizes the importance of the upcoming property maintenance and construction projects in driving the growth of the RMAA and renovation industry in Hong Kong[14]. Shareholder Communication - The company has established multiple communication channels with shareholders and investors, including annual general meetings, annual reports, interim reports, and a dedicated website[90]. - The company has a dedicated office for handling shareholder inquiries regarding shareholdings, transfers, and dividends[86]. - The company emphasizes the importance of shareholders providing detailed contact information for timely responses to inquiries[87]. Environmental Commitment - The company aims to prioritize innovative construction solutions and enhance its commitment to innovation and environmental responsibility[10]. - The company has committed to environmental sustainability by implementing measures to minimize operational impacts on the environment[118].

Group 1 - Advanced Pacific Enterprises Limited will sell 100 million shares of the company to Mr. Li Mengda for HKD 17 million, representing approximately 7.94% of the total issued share capital as of the announcement date [1] - Advanced Pacific will also sell 100 million shares to Ms. Zhang Peipei for HKD 17 million, also representing approximately 7.94% of the total issued share capital as of the announcement date [1] - After the completion of both transactions, Advanced Pacific will hold approximately 2.82% of the company's total issued share capital and will no longer be a major shareholder [2] Group 2 - Mr. Li will hold approximately 10.79% of the company's total issued share capital, becoming the major shareholder [2] - Ms. Zhang will hold approximately 9.37% of the company's total issued share capital [2] - The board anticipates that these transactions will not adversely affect the group's business operations [2]

Financial Performance - For the fiscal year ending December 31, 2024, the company reported total revenue of HKD 150,023,000, an increase of 4.0% compared to HKD 143,405,000 in the previous year[5]. - The gross profit for the same period was HKD 9,780,000, representing a gross margin of approximately 6.5%, up from HKD 7,860,000 in the prior year[5]. - The company recorded a net loss of HKD 3,140,000 for the year, significantly improved from a loss of HKD 30,321,000 in the previous year[5]. - The group reported a loss of HKD 3,140,000 for the year ending December 31, 2024, compared to a loss of HKD 30,321,000 in 2023[12]. - Loss before tax decreased from HKD 30,321,000 in 2023 to HKD 3,140,000 in 2024, indicating an improvement in financial performance[42]. - Basic loss per share improved from HKD (2.89) in 2023 to HKD (0.30) in 2024, reflecting a reduction in overall losses[42]. - The company reported a net loss of approximately HKD 3.1 million for the year ending December 31, 2024, down from a loss of about HKD 30.3 million for the previous year, driven by increased revenue and reduced administrative expenses[78]. Revenue Breakdown - The group's total revenue for the year 2024 was HKD 150,023,000, an increase of 4.1% compared to HKD 143,405,000 in 2023[31]. - Revenue from RMAA engineering projects was HKD 137,582,000, showing a growth of 2.0% from HKD 134,507,000 in the previous year[31]. - Revenue from new construction projects decreased significantly to HKD 1,125,000 from HKD 2,789,000, a decline of 59.7%[31]. - Revenue from anti-corrosion protection projects increased to HKD 11,316,000, up 85.5% from HKD 6,109,000 in the previous year[31]. - The expected revenue from performance obligations not yet fulfilled as of the reporting date is HKD 125,763,000, down from HKD 171,445,000 in the previous year, representing a decrease of 26.7%[32]. - Revenue recognized from performance obligations completed in the year amounted to HKD 515,000,000, significantly up from HKD 166,000,000 in 2023[48]. Assets and Liabilities - Total assets increased to HKD 130,239,000, compared to HKD 125,375,000 in the previous year, reflecting a growth of 3.0%[6]. - The company's current assets net value rose to HKD 42,650,000, up from HKD 34,392,000, indicating a 24.5% increase[7]. - The group has current liabilities totaling HKD 50,807,000, which includes trade payables and other payables, compared to HKD 51,351,000 in 2023[12]. - Trade payables increased from HKD 41,228,000 in 2023 to HKD 47,321,000 in 2024, representing a growth of 14.8%[51]. - The total amount of trade and other payables was HKD 64,221,000 in 2024, compared to HKD 59,320,000 in 2023, an increase of 8.5%[51]. Financial Position and Equity - The total equity of the company reached HKD 49,398,000, an increase of 19.0% from HKD 41,471,000 in the previous year[7]. - The capital debt ratio improved from about 19.1% to approximately 9.9% due to debt repayment, indicating a stronger financial position[79]. - The company’s bank and other borrowings decreased from HKD 7,922,000 in 2023 to HKD 4,922,000 in 2024, a reduction of 37.9%[54]. - The company has no contingent liabilities as of December 31, 2024[86]. Cost Management - The company’s administrative expenses decreased significantly to HKD 13,869,000 from HKD 33,138,000, a reduction of approximately 58.2%[5]. - Sales costs rose from approximately HKD 135.5 million to approximately HKD 140.2 million, an increase of about 3.5% due to higher subcontracting costs associated with increased revenue[70]. - Financing costs decreased significantly from HKD 2,121,000 in 2023 to HKD 366,000 in 2024, primarily due to reduced interest expenses on bank and other borrowings[37]. Shareholder Information - The company issued 210,000,000 shares at a placement price of HKD 0.055 per share, raising approximately HKD 11,067,000 after expenses[56]. - The company did not declare any dividends for the year ending December 31, 2024, consistent with the previous year[43]. - The board does not recommend any final dividend for the year ending December 31, 2024[98]. Future Outlook and Strategy - The company plans to continue expanding its market presence and investing in new technologies to enhance operational efficiency[5]. - The company is exploring new business opportunities in China to diversify its business portfolio and create new growth opportunities outside of Hong Kong[68]. - The group is implementing operational plans to improve profitability and generate sufficient operating cash flow[13]. Compliance and Governance - The audit committee has been established and consists of three independent non-executive directors, ensuring compliance with GEM listing rules[100]. - The audit committee reviewed the annual performance for the year ending December 31, 2024, prior to submission to the board[101]. - The group's auditor confirmed that the financial figures for the year ending December 31, 2024, are consistent with the consolidated financial statements[101].

Revenue Performance - Revenue decreased from approximately HKD 93.1 million for the six months ended June 30, 2023, to approximately HKD 86.1 million for the six months ended June 30, 2024, representing a decline of about 7.5%[43]. - The company reported unaudited consolidated revenue of HKD 86,194 thousand for the six months ended June 30, 2024, a decrease from HKD 93,114 thousand in the same period of 2023, representing a decline of approximately 7.5%[80]. - For the six months ended June 30, 2024, the total revenue from RMAA projects was HKD 80,055,000, a decrease of 1.17% from HKD 85,054,000 in the same period of 2023[94]. - The revenue from new construction projects significantly decreased to HKD 219,000 from HKD 6,422,000 in the previous year, indicating a decline of approximately 96.58%[94]. - Revenue from anti-corrosion projects increased to HKD 5,920,000, up 261.73% from HKD 1,638,000 in the same period last year[94]. - The total contract revenue for the first half of 2024 was HKD 86,194,000, down 7.67% from HKD 93,114,000 in the first half of 2023[94]. Cost Management - Direct costs reduced from approximately HKD 84.4 million to approximately HKD 75.1 million, a decrease of about 11.0%, due to lower subcontracting fees and material costs[44]. - Administrative expenses decreased by approximately HKD 3.9 million or 28.4%, from approximately HKD 13.8 million to approximately HKD 9.9 million, primarily due to cost control measures[46]. - The financing cost decreased by approximately HKD 0.4 million or 80% to about HKD 0.1 million for the six months ending June 30, 2024, due to a reduction in bank borrowings[51]. - Employee costs for the six months ended June 30, 2024, totaled HKD 14,780,000, a decrease from HKD 18,620,000 in the same period of 2023[100]. Profitability - The company reported a profit of approximately HKD 1.0 million for the six months ending June 30, 2024, compared to a loss of approximately HKD 15.0 million for the same period in 2023, primarily due to increased gross profit and reduced administrative expenses and financing costs[53]. - The company recorded a profit before tax of HKD 990 thousand, a significant recovery from a loss of HKD 15,032 thousand in the prior year[80]. - For the six months ended June 30, 2024, the company reported a profit attributable to equity holders of HKD 990,000, compared to a loss of HKD 15,032,000 for the same period in 2023[105]. - Basic and diluted earnings per share for the period were HKD 0.09, compared to a loss of HKD 1.43 per share in the previous year[80]. Financial Position - The company's current ratio remained stable at approximately 1.3 times as of December 31, 2023, and increased to about 1.4 times as of June 30, 2024[54]. - The total borrowings amounted to approximately HKD 5.9 million as of June 30, 2024, down from approximately HKD 7.9 million as of December 31, 2023, resulting in a capital debt ratio decrease from about 19.1% to 14.0%[54]. - Total assets as of June 30, 2024, were HKD 111,876 thousand, down from HKD 125,375 thousand as of December 31, 2023, reflecting a decrease of approximately 10.7%[82]. - Current liabilities decreased to HKD 75,604 thousand from HKD 90,983 thousand, a reduction of approximately 16.9%[82]. - The company's cash and cash equivalents increased to HKD 2,268 thousand from HKD 362 thousand, showing a significant improvement in liquidity[82]. - The accumulated losses as of June 30, 2024, were HKD 57,854,000, a reduction from HKD 58,844,000 at the beginning of the year[85]. Project and Market Development - The group secured 32 new projects with a total contract value of approximately HKD 68.0 million during the six months ended June 30, 2024[40]. - The number of projects undertaken by the group decreased from 82 to 69 as of June 30, 2024, reflecting the current market conditions[40]. - The group aims to expand its business opportunities outside of Hong Kong, driven by the demand for RMAA and new construction services[40]. - The overall demand for RMAA and new construction services is showing an upward trend, influenced by the macroeconomic environment and property market developments in Hong Kong[40]. - The company continues to focus on securing more RMAA and corrosion protection contracts to strengthen its market position[42]. - The company continues to focus on RMAA engineering, new construction, and anti-corrosion projects as part of its core business strategy[93]. Governance and Compliance - The company has established an audit committee to oversee financial reporting and compliance, ensuring adherence to corporate governance standards[78]. - The company did not declare an interim dividend for the six months ended June 30, 2024[75]. - There were no share options granted during the reporting period, and no unexercised share options as of June 30, 2024[76]. - The company has no tax provision for Hong Kong profits tax due to sufficient tax losses to absorb profits for the period[101]. Other Financial Metrics - Trade receivables as of June 30, 2024, amounted to HKD 35,966,000, an increase from HKD 29,853,000 as of December 31, 2023[111]. - The fair value of life insurance policy investments increased to HKD 168,000 as of June 30, 2024, from HKD 135,000 as of December 31, 2023[107]. - The expected revenue from unfulfilled performance obligations as of June 30, 2024, is HKD 104,591,000, down from HKD 171,445,000 as of December 31, 2023[99]. - The company did not incur any bank loan proceeds during the first half of 2024, compared to HKD 19,500,000 in the same period of 2023[86]. - The total comprehensive income for the period was HKD 42,461,000, compared to HKD 41,471,000 at the beginning of the year[85].

Financial Position - The unaudited consolidated financial position as of June 30, 2024, shows total equity of HKD 42,461,000, an increase from HKD 41,471,000 as of December 31, 2023, representing a growth of 2.4%[2] - The company's reserves increased to HKD 31,961,000 from HKD 30,971,000, reflecting a growth of 3.2%[2] Liabilities - Non-current liabilities, specifically lease liabilities, decreased to HKD 248,000 from HKD 282,000, indicating a reduction of 12.1%[2]

Financial Performance - Revenue decreased from approximately HKD 93.1 million for the six months ended June 30, 2023, to approximately HKD 86.1 million for the six months ended June 30, 2024, a decline of about 7.5%[45]. - The company recorded a profit of approximately HKD 1.0 million for the six months ended June 30, 2024, compared to a loss of approximately HKD 15.0 million for the same period in 2023[55]. - The company achieved a profit before tax of HKD 990 thousand, a turnaround from a loss of HKD 15,032 thousand in the previous year[82]. - Basic and diluted earnings per share were HKD 0.09, compared to a loss of HKD 1.43 per share in the prior year[82]. - Gross profit increased from approximately HKD 8.6 million to approximately HKD 11.0 million, with the gross profit margin rising from about 9.3% to 12.8%[47]. - The company reported unaudited revenue of HKD 86,194 thousand for the six months ended June 30, 2024, a decrease of 7.1% compared to HKD 93,114 thousand in the same period of 2023[82]. - Gross profit for the same period was HKD 11,035 thousand, compared to HKD 8,634 thousand in 2023, reflecting a significant increase[82]. - The company reported a profit attributable to equity holders of HKD 990 thousand, compared to a loss of HKD 15,032 thousand in the same period last year[107]. Cost Management - Direct costs reduced from approximately HKD 84.4 million to approximately HKD 75.1 million, a decrease of about 11.0%, attributed to lower subcontracting and material costs[46]. - Administrative expenses decreased by approximately HKD 3.9 million or 28.4%, from approximately HKD 13.8 million to approximately HKD 9.9 million, due to effective cost control measures[48]. - The company’s financing costs decreased by approximately 80% from HKD 0.5 million to HKD 0.1 million due to reduced bank borrowings[53]. - Employee costs for the six months ended June 30, 2024, were HKD 14,780 thousand, down from HKD 18,620 thousand in the previous year[102]. Liquidity and Financial Position - The current ratio remained stable at approximately 1.3 times as of December 31, 2023, and increased to approximately 1.4 times as of June 30, 2024[56]. - The company’s total borrowings amounted to approximately HKD 5.9 million as of June 30, 2024, down from approximately HKD 7.9 million as of December 31, 2023[56]. - Current liabilities decreased to HKD 75,604 thousand from HKD 90,983 thousand at the end of 2023, indicating improved liquidity[84]. - The net cash generated from operating activities was HKD 2,034 thousand, compared to a cash outflow of HKD 1,148 thousand in the same period last year[88]. - The company reported a cash and cash equivalents balance of HKD 2,268 thousand at the end of June 2024, down from HKD 4,392 thousand a year earlier[88]. Business Operations and Strategy - The company is actively seeking opportunities to expand its business outside of Hong Kong[44]. - The company is focused on expanding its operations in the RMAA sector, which includes maintenance, repair, and alteration works[89]. - The company secured 32 new projects during the six months ended June 30, 2024, with a total contract value of approximately HKD 68.0 million[45]. Shareholder Information - The group has not proposed any interim dividend for the six months ending June 30, 2024[77]. - The group did not recommend any interim dividend for the six months ended June 30, 2024, and June 30, 2023[106]. - The total issued and paid-up share capital remained at HKD 10,500,000 as of June 30, 2024, unchanged from the previous periods[128]. Governance and Compliance - The announcement confirms that the board of directors has collectively and individually accepted responsibility for the accuracy and completeness of the information provided[2]. - The company emphasizes the higher investment risks associated with GEM-listed companies, targeting experienced investors[3]. - The company has a commitment to transparency and accountability in its financial reporting practices[2]. - The group has established an audit committee to oversee the integrity of financial reporting and the independence of external auditors[80]. Assets and Liabilities - Total assets as of June 30, 2024, were HKD 111,876 thousand, down from HKD 125,375 thousand as of December 31, 2023[84]. - Trade receivables and deposits totaled HKD 35,966 million as of June 30, 2024, compared to HKD 29,853 million as of December 31, 2023, indicating an increase of about 20.5%[113]. - The aging analysis of trade receivables shows that overdue amounts over 365 days increased to HKD 6,026 million from HKD 3,225 million, reflecting a rise of approximately 86.5%[115]. - Contract assets decreased to HKD 65,503 million as of June 30, 2024, from HKD 87,676 million as of December 31, 2023, a decline of about 25.3%[117]. - Contract liabilities also decreased to HKD 64,323 million from HKD 86,496 million, representing a reduction of approximately 25.6%[117]. Employee Information - As of June 30, 2024, the group employed a total of 73 employees, down from 89 employees as of December 31, 2023, with employee costs approximately HKD 14.0 million compared to HKD 18.6 million in the previous year[65]. - The total remuneration for key management personnel increased to HKD 2,649,000 from HKD 2,382,000, reflecting an increase of approximately 11%[130].

Financial Performance - Total revenue decreased from approximately HK$185.0 million for the year ended December 31, 2022, to approximately HK$143.4 million for the year ended December 31, 2023, representing a decline of about 22.5%[8]. - The group's gross profit decreased from approximately HKD 22.5 million for the year ended December 31, 2022, to approximately HKD 7.9 million for the year ended December 31, 2023, resulting in a gross profit margin decline from about 12.1% to approximately 5.5%[16]. - The company reported a net loss of HKD 30,321,000 for the year, compared to a loss of HKD 24,637,000 in 2022, representing a 23.3% increase in losses[181]. - Basic and diluted loss per share for 2023 was HKD 2.89, compared to HKD 2.35 in 2022, indicating a 23.0% increase in loss per share[181]. - Non-current assets decreased to HKD 7,361,000 in 2023 from HKD 33,519,000 in 2022, a decline of 78.0%[183]. - Current assets decreased to HKD 125,375,000 in 2023 from HKD 154,557,000 in 2022, a reduction of 18.9%[183]. - Total liabilities decreased to HKD 90,983,000 in 2023 from HKD 114,288,000 in 2022, a decrease of 20.4%[183]. - The company's equity decreased to HKD 41,471,000 in 2023 from HKD 71,792,000 in 2022, a decline of 42.3%[185]. - Cash generated from operating activities was HKD 7,454,000 in 2023, slightly up from HKD 7,262,000 in 2022[190]. - The company recognized a goodwill impairment of HKD 14,000,000 in 2023, compared to HKD 10,000,000 in 2022, reflecting a 40.0% increase in impairment[181]. - The net cash used in financing activities decreased to HKD 17,510,000 in 2023 from HKD 24,508,000 in 2022, indicating a reduction of approximately 28.5%[193]. - Cash and cash equivalents at the end of 2023 were HKD 362,000, down from HKD 10,869,000 at the beginning of the year, reflecting a significant decrease of 96.7%[193]. - The company reported a net decrease in cash and cash equivalents of HKD 10,507,000 in 2023, contrasting with a net increase of HKD 1,134,000 in 2022[193]. Project and Market Activity - The group undertook 182 projects generating revenue in the year ended December 31, 2023, compared to 156 projects in the previous year[12]. - The group secured 68 new projects with a total contract value of approximately HK$135.0 million as of the report date[12]. - The demand for RMAA and corrosion protection services remained stable during the reporting period[12]. - Future opportunities and challenges will continue to be influenced by the development of the Hong Kong property market and labor and material costs[13]. - The overall market conditions in the Hong Kong construction industry remained relatively stable, despite increased economic uncertainties[9]. Cost Management - Sales costs decreased from approximately HK$162.5 million for the year ended December 31, 2022, to approximately HK$135.5 million for the year ended December 31, 2023, a reduction of about 16.6%[15]. - Administrative expenses reduced by approximately HKD 6.7 million or 16.8%, from about HKD 39.8 million for the year ended December 31, 2022, to approximately HKD 33.1 million for the year ended December 31, 2023, primarily due to a cost control plan implemented in 2023[18]. - The group has implemented cost-cutting measures that are expected to save J million annually, improving overall profitability[101]. Governance and Compliance - The company has adopted a board diversity policy, considering various measurable categories such as gender, age, and professional experience[50]. - The board consists of seven members, including two executive directors and three independent non-executive directors[42]. - The company has established a strict code of conduct for securities trading by directors, with no violations reported for the year ending December 31, 2023[41]. - The company is committed to maintaining high standards of corporate governance to meet stakeholder expectations[46]. - The company has established three board committees: Audit Committee, Remuneration Committee, and Nomination Committee[61]. - The Audit Committee consists of three independent non-executive directors, ensuring compliance with GEM listing rules and overseeing financial reporting integrity[62]. - The company emphasizes continuous professional development for directors, encouraging attendance at relevant seminars and training[59]. - The company has a structured approach to governance, ensuring compliance with policies and objectives[91]. Shareholder Engagement - The company has established procedures for shareholders to convene special general meetings under specific conditions[81]. - Shareholders can propose independent resolutions at general meetings to safeguard their interests and rights[80]. - The company has established multiple communication channels with shareholders and investors, including annual general meetings, annual reports, interim reports, and a dedicated website[87]. - The company is actively engaging with shareholders to address their inquiries and concerns during meetings[87]. Risk Management - The company has implemented a three-tier risk management approach to identify, analyze, assess, mitigate, and respond to risks[75]. - The board has reviewed the effectiveness of the risk management system and continues to monitor its performance regularly[74]. - The company aims to ensure effective risk management as a key component of its long-term business development strategy[74]. - The company emphasizes the importance of good risk management for achieving its strategic objectives[75]. Future Outlook - The group remains cautiously optimistic about the overall business outlook despite several challenging factors, including intense market competition and rising costs[9]. - The group aims to continue providing integrated services in RMAA, new construction projects, and corrosion protection engineering to retain existing clients and attract new ones[9]. Financial Obligations and Share Options - The company has not granted or agreed to grant any share options under its share option plan for the year ending December 31, 2023[132]. - The maximum number of share options that can be granted under the plan is capped at 10% of the total issued shares, which is 1,050,000,000 shares[135]. - Each eligible participant must pay HKD 1.00 to receive share options under the plan[134]. - The exercise price for any specific share option granted must be at least the higher of the closing price on the grant date or the average closing price over the five trading days preceding the grant date[138]. Auditor and Financial Reporting - The new auditor, Debo CPA Limited, was appointed effective January 24, 2023, following the resignation of the previous auditor due to a disagreement over audit service fees[158]. - The financial statements have been 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, 2023[163]. - The auditor's responsibility is to provide reasonable assurance that the financial statements are free from material misstatement, whether due to fraud or error[175]. - The auditor confirmed compliance with ethical requirements regarding independence and communicated any relationships that could affect independence[178].