Financial Performance - For the fiscal year ending December 31, 2024, the group reported total revenue of approximately HKD 99 million, an increase of about HKD 1.8 million compared to the previous fiscal year[9]. - The group recorded a net loss of approximately HKD 4.2 million for the fiscal year ending December 31, 2024, a significant improvement from a net loss of approximately HKD 20.3 million in the previous year[9][13]. - The company's revenue increased from approximately HKD 97.2 million for the year ended December 31, 2023, to approximately HKD 99.0 million for the year ended December 31, 2024, representing a growth of about 1.9%[21]. - The cost of sales rose from approximately HKD 83.8 million to approximately HKD 98.7 million, an increase of about 17.7%[22]. - The gross profit decreased significantly to approximately HKD 0.3 million, down about 97.8% from approximately HKD 13.3 million, with the gross margin dropping to approximately 0.3% from about 13.7%[23]. - Other income and gains increased from approximately HKD 0.3 million to approximately HKD 3.7 million, primarily due to machinery rental income[24]. - Administrative and other operating expenses rose to approximately HKD 17.5 million, an increase of about 19.9% from approximately HKD 14.6 million, mainly due to higher employee costs[25]. - The company recorded a loss attributable to owners of approximately HKD 4.2 million for the year ended December 31, 2024, compared to a loss of approximately HKD 20.3 million for the previous year[28]. - As of December 31, 2024, the company's cash and bank balances were approximately HKD 2.7 million, down from approximately HKD 4.8 million as of December 31, 2023[30]. - The total debt, including borrowings and lease liabilities, was approximately HKD 9.9 million as of December 31, 2024, significantly reduced from approximately HKD 25.6 million[31]. - The capital debt ratio was approximately 19.9% as of December 31, 2024, a decrease from approximately 60.9% in the previous year[32]. Business Strategy and Operations - The group plans to adopt a prudent and strategic approach to leverage industry expertise and resources to strengthen core business and explore new growth opportunities[10]. - The construction industry continues to face challenges such as rising costs and supply chain disruptions, yet the group has managed to consolidate its market position[9]. - The company aims to provide sustainable value to shareholders by adapting to the changing market environment[10]. - The group focuses on optimizing business operations and improving efficiency as part of its forward-looking strategy[9]. - The company is involved in foundation engineering contracting, site preparation subcontracting, and alcohol beverage trading in China[12]. - The company is focusing on maintaining stable operations in its core business in Hong Kong while actively adjusting its business strategy to adapt to the growing demand in the mainland China's beverage trade market[14]. Corporate Governance - The board expresses gratitude to shareholders, customers, business partners, and employees for their support and trust[10]. - The board does not recommend the distribution of a final dividend for the year ending December 31, 2024, similar to the previous year[43]. - The company has established a remuneration committee to review the remuneration policy and structure for directors and senior management based on the group's performance and market practices[97]. - The board consists of seven members, with three independent non-executive directors, exceeding the requirement of at least one-third independence as per GEM Listing Rules[119]. - The company has implemented a board diversity policy to enhance performance quality, considering various factors such as gender, age, and professional experience[120][123]. - The nomination policy ensures that the board possesses the necessary skills, experience, and diverse perspectives relevant to the company's business[130]. - The independent non-executive directors have confirmed their independence, complying with GEM Listing Rules[119]. - The company has purchased liability insurance for directors and senior management to cover potential legal liabilities arising from their duties[116]. - The roles of the chairman and CEO are maintained separately to enhance independence and accountability[142]. - The board's composition includes one female executive director, contributing to gender diversity[128]. Environmental, Social, and Governance (ESG) Initiatives - The company remains committed to corporate social responsibility, emphasizing safety, health, and environmental sustainability as integral to its operations[9]. - The group emphasizes the importance of combining economic goals with social and environmental responsibilities for long-term value creation[9]. - The ESG report reflects the company's performance in environmental management and social responsibility for the period from January 1, 2024, to December 31, 2024[169]. - The company has identified key ESG issues and performance indicators relevant to its main business activities in Hong Kong[170]. - The board is responsible for ensuring the effectiveness of the company's ESG policies and has established a dedicated team to manage ESG matters[171]. - The company aims to create sustainable value for stakeholders while minimizing its negative environmental impact[171]. - The company is committed to reducing greenhouse gas emissions through various environmental policies and measures[179]. - The company has implemented procedures to manage wastewater in compliance with the Water Pollution Control Ordinance[181]. - The company aims to minimize emissions from construction sites, including air pollutants, noise, wastewater, and waste[180]. - The company is closely monitoring changes in environmental laws and regulations to ensure compliance and mitigate legal risks[179]. Employee and Workforce Management - The total employee cost for the year ending December 31, 2024, is approximately HKD 37.1 million, compared to HKD 28.5 million for the previous year, reflecting an increase of about 30%[44]. - The total number of full-time employees in Hong Kong and China is 32, down from 80 in the previous year[44]. - The company has not reported any significant violations of environmental laws during the reporting period[184]. - The company has implemented measures to educate employees on reducing emissions, including avoiding vehicle use during peak hours and encouraging public transport[183]. Risk Management - The company has established risk management procedures, including annual risk identification and assessment, to provide reasonable assurance against significant errors or fraud[157]. - The company aims to manage, rather than eliminate, risks that may prevent achieving business objectives, providing reasonable assurance against material misstatements or losses[158]. - The company has a structured approach to risk management, including risk identification, assessment, and mitigation strategies[158]. - The board is responsible for overseeing the internal control and risk management systems, conducting annual reviews of their effectiveness[156]. - The company has established an internal control system that has been reviewed and deemed effective by the audit committee and independent consultants[159]. - The company does not have an internal audit function due to the effectiveness of its internal control system, which is regularly reviewed by the audit committee and board[159].

Revenue and Profitability - The group's revenue for the year ended December 31, 2024, was HKD 98,971,000, a 1.87% increase from HKD 97,150,000 in 2023[3] - The gross profit decreased significantly to HKD 290,000 from HKD 13,319,000, indicating a substantial decline in profitability[3] - Other income and gains rose to HKD 3,732,000 from HKD 261,000, reflecting a positive trend in additional revenue streams[3] - Revenue for the year ended December 31, 2024, was HKD 98,971,000, an increase from HKD 97,150,000 in 2023, representing a growth of 1.87%[15] - The revenue from foundation and related engineering was HKD 96,410,000, up from HKD 95,327,000, indicating a growth of 1.14%[15] - Alcohol beverage sales increased to HKD 2,561,000 from HKD 1,823,000, reflecting a significant growth of 40.5%[15] - The company reported a total segment loss of HKD 4,228,000 for the year, with a pre-tax loss of HKD 3,563,000[20] - The company incurred other losses totaling HKD 11,442,000 in 2024, compared to only HKD 23,000 in 2023, indicating significant financial strain[25] - Employee costs increased to HKD 33,302,000 in 2024 from HKD 24,159,000 in 2023, marking a rise of approximately 37.9%[25] Loss and Financial Performance - The net loss for the year was HKD 4,228,000, a significant improvement compared to HKD 20,295,000 in the previous year[3] - The company reported a total loss for the year of HKD 20,295,000, compared to a loss of HKD 19,773,000 in 2023, indicating a deterioration in performance[26] - The basic and diluted loss per share improved to HKD 2.48 from HKD 15.54, indicating a positive trend in per-share performance despite the loss[4] - The basic loss per share for 2024 was HKD 2.48, compared to HKD 15.54 in 2023, showing an improvement in loss per share despite the overall loss[26] - The loss attributable to the owners of the company was approximately HKD 4.2 million for the year ending December 31, 2024, compared to a loss of approximately HKD 20.3 million for the year ended December 31, 2023[48] Assets and Liabilities - Total assets decreased to HKD 94,454,000 from HKD 104,305,000, indicating a contraction in the company's asset base[5] - Current assets increased to HKD 80,310,000 from HKD 74,437,000, indicating better liquidity position[5] - Total liabilities decreased to HKD 44,851,000 from HKD 62,329,000, reflecting a reduction in financial obligations[6] - The segment assets decreased from HKD 100,939,000 in 2023 to HKD 89,140,000 in 2024, reflecting a decline of approximately 11.7%[22] - The segment liabilities also decreased significantly from HKD 59,161,000 in 2023 to HKD 44,491,000 in 2024, a reduction of about 24.8%[22] - Trade receivables decreased significantly from HKD 22,777,000 in 2023 to HKD 7,785,000 in 2024, a decline of approximately 65.8%[28] - The total debt (including borrowings and lease liabilities) was approximately HKD 9.9 million as of December 31, 2024, significantly reduced from approximately HKD 25.6 million as of December 31, 2023[50] - The capital debt ratio was approximately 19.9% as of December 31, 2024, a decrease from approximately 60.9% as of December 31, 2023[50] Shareholder Equity and Dividends - The company's equity attributable to owners increased to HKD 49,101,000 from HKD 41,512,000, suggesting improved shareholder value[5] - The company did not declare a final dividend for the year ended December 31, 2024, consistent with the previous year[27] - The company did not recommend the payment of a final dividend for the year ending December 31, 2024[61] Operational Insights and Future Plans - The company plans to maintain stable operations in its core Hong Kong business while actively focusing on the growing alcohol beverage trade market in mainland China[34] - The company is committed to adapting its business strategy to changing market trends in the alcohol beverage sector[34] - The company emphasizes the importance of maintaining good relationships with employees, customers, and suppliers to mitigate operational risks[39] Financial Reporting and Compliance - The company has not early adopted any new or revised Hong Kong Financial Reporting Standards that are not yet effective, which are expected to have no significant impact on the financial statements[12] - The new Hong Kong Financial Reporting Standard No. 18 will introduce new presentation requirements for the income statement, effective from January 1, 2027, with retrospective application[13] - The company is currently analyzing the impact of the new regulations on its financial statement presentation and disclosures[13] - The consolidated financial statements for the year ending December 31, 2024, have been reviewed and are consistent with the amounts reported in the group's financial statements[66] - The audit committee believes that the consolidated financial statements comply with applicable accounting standards and GEM listing rules[66] Other Financial Metrics - The cost of sales rose from approximately HKD 83.8 million to approximately HKD 98.7 million, an increase of approximately HKD 14.9 million or 17.7%[42] - Gross profit decreased to approximately HKD 0.3 million for the year ending December 31, 2024, down approximately 97.8% from approximately HKD 13.3 million for the previous year[43] - The gross profit margin fell to approximately 0.3% for the year ending December 31, 2024, a decline of approximately 13.4 percentage points from approximately 13.7% for the previous year[43] - Administrative and other operating expenses rose to approximately HKD 17.5 million for the year ending December 31, 2024, an increase of approximately HKD 2.9 million or 19.9% from approximately HKD 14.6 million for the year ended December 31, 2023[45] - Financing costs decreased from approximately HKD 1.6 million for the year ended December 31, 2023, to approximately HKD 1.4 million for the year ending December 31, 2024[46] - As of December 31, 2024, the total cash and bank balance was approximately HKD 2.7 million, down from approximately HKD 4.8 million as of December 31, 2023[49] - There were no significant investments or capital asset plans as of December 31, 2024[58] - The company had no significant contingent liabilities as of December 31, 2024[60] - The company expresses gratitude to customers, suppliers, business partners, shareholders, and employees for their contributions during the year[67]

Financial Performance - The Group reported revenue of HKD 58,631,000 for the six months ended June 30, 2024, representing an increase of 35.1% compared to HKD 43,419,000 in the same period of 2023[9]. - Gross profit for the period was HKD 4,755,000, down 22.0% from HKD 6,092,000 year-on-year[9]. - The Group incurred an operating loss of HKD 2,128,000, compared to an operating profit of HKD 952,000 in the previous year[9]. - The net loss attributable to equity holders of the Company was HKD 2,784,000, compared to a loss of HKD 46,000 in the same period last year[10]. - Basic and diluted loss per share for the period was HKD 2.42, compared to HKD 0.04 in the previous year[10]. - The Group's total comprehensive loss for the period was HKD 2,891,000, compared to a total comprehensive income of HKD 17,000 in the same period of 2023[9]. - The Group's financing costs increased to HKD 795,000 from HKD 625,000 year-on-year, reflecting a rise of 27.2%[9]. - Other income and gains for the period amounted to HKD 1,864,000, compared to HKD 207,000 in the previous year, indicating a significant increase[9]. - The Group's administrative and other operating expenses rose to HKD 8,865,000 from HKD 5,405,000, marking an increase of 63.5%[9]. Assets and Liabilities - Total assets as of June 30, 2024, decreased to HKD 102,366,000 from HKD 104,305,000 as of December 31, 2023, representing a decline of approximately 1.4%[11]. - Non-current assets, including property, plant, and equipment, decreased from HKD 24,107,000 to HKD 22,428,000, a reduction of about 7%[11]. - Current liabilities increased to HKD 59,595,000 from HKD 56,382,000, marking an increase of approximately 3.8%[12]. - Total equity decreased to HKD 39,085,000 as of June 30, 2024, down from HKD 41,976,000 as of December 31, 2023, reflecting a decline of about 6.9%[11]. - The company’s borrowings decreased from HKD 17,753,000 to HKD 12,497,000, a reduction of approximately 29.5%[12]. - The company’s inventory and trade and other receivables decreased from HKD 4,083,000 to HKD 3,872,000, a decline of about 5.2%[11]. - The group’s total liabilities as of June 30, 2024, were HKD 63,281,000, slightly down from HKD 63,908,000 in the previous year[27]. - The group’s total equity decreased from HKD 61,745,000 to HKD 58,321,000, reflecting a decline of 5.5%[27]. Cash Flow - The company reported a net cash inflow from operating activities of HKD 6,569,000 for the six months ended June 30, 2024, compared to HKD 888,000 for the same period in 2023[16]. - The company’s cash and cash equivalents at the end of the period were HKD 2,019,000, down from HKD 4,837,000 at the end of 2023, indicating a decrease of approximately 58%[16]. - The company reported a cash outflow from investing activities of HKD 611,000 for the six months ended June 30, 2024, compared to HKD 10,410,000 for the same period in 2023[16]. Revenue Segmentation - Revenue for the foundation and related engineering business reached HKD 58,209,000, a 37.4% increase from HKD 42,394,000 in the same period last year[21]. - Alcohol beverage trading revenue decreased to HKD 422,000, down 58.8% from HKD 1,025,000 year-on-year[21]. - Revenue from external customers for the six months ended June 30, 2024, was HKD 58,631,000, an increase from HKD 43,419,000 in 2023, representing a growth of 35.1%[30]. Future Outlook and Strategy - The Group is focusing on market expansion and new product development strategies to improve future performance[4]. - The company remains cautiously optimistic about future prospects despite global economic uncertainties, believing in gradual recovery and long-term stable growth[51]. - The company is committed to investing in technological innovation and talent development to maintain its competitive edge in the foundation engineering market in Hong Kong[51]. - The company is closely monitoring the growing demand for alcoholic beverages in mainland China, indicating potential market expansion opportunities[51]. Employee and Corporate Governance - The total employee cost for the six months ended June 30, 2024, was approximately HKD 19.4 million, compared to HKD 11.7 million in the previous year[66]. - The total number of full-time employees in Hong Kong increased to 125 as of June 30, 2024, from 80 as of December 31, 2023[66]. - The company did not recommend an interim dividend for the six months ended June 30, 2024, consistent with the previous year[39]. - The company has adhered to all applicable corporate governance codes as per GEM Listing Rules during the six months ending June 30, 2024[78]. - The audit committee has reviewed the financial reporting processes and internal controls, ensuring compliance with applicable accounting standards and GEM Listing Rules for the six months ending June 30, 2024[80]. Shareholder Information - As of June 30, 2024, the company has a total of 115,000,000 ordinary shares issued, with a significant shareholder, Qihao, holding 51,000,000 shares, representing 44.35% of the equity[73]. - No shares were purchased, sold, or redeemed by the company or its subsidiaries during the six months ending June 30, 2024[74]. - There were no competitive businesses or conflicts of interest reported involving directors, major shareholders, or their close associates during the six months ending June 30, 2024[75].

Financial Performance - For the six months ended June 30, 2024, the group reported revenue of HKD 58,631,000, an increase from HKD 43,419,000 in the same period of 2023, representing a growth of 35%[2] - The gross profit for the same period was HKD 4,755,000, down from HKD 6,092,000, indicating a decline of 22%[2] - The group incurred an operating loss of HKD 2,128,000 compared to an operating profit of HKD 952,000 in the previous year, reflecting a significant downturn[2] - The net loss attributable to equity holders for the six months was HKD 2,784,000, compared to a loss of HKD 46,000 in the prior year[3] - The company reported a basic and diluted loss per share of HKD 2.42 for the period, compared to HKD 0.04 in the previous year[3] - The company reported a pre-tax loss of HKD 2,923,000 for the six months ended June 30, 2024, compared to a pre-tax profit of HKD 327,000 in the same period of 2023[17] - The company recorded a net loss of approximately HKD 2.9 million for the six months ended June 30, 2024, compared to a net profit of approximately HKD 0.1 million for the same period in 2023[41] - The group recorded a loss of approximately HKD 2.9 million for the six months ended June 30, 2024, compared to a profit of approximately HKD 0.1 million for the same period in 2023[47] Assets and Liabilities - Total assets decreased to HKD 102,366,000 as of June 30, 2024, down from HKD 104,305,000 at the end of 2023[4] - The company's equity attributable to owners decreased to HKD 38,766,000 from HKD 41,512,000, reflecting a decline of 7%[5] - Total liabilities increased to HKD 63,281,000 from HKD 62,329,000, indicating a slight rise in financial obligations[7] - Total assets as of June 30, 2024, were HKD 102,366,000, down from HKD 125,532,000 in the previous year, indicating a decrease of 18.5%[18] - The total equity attributable to the owners of the company was approximately HKD 38.8 million as of June 30, 2024, compared to HKD 41.5 million as of December 31, 2023[49] - The group's total debt, including borrowings and lease liabilities, was approximately HKD 17.6 million as of June 30, 2024, down from HKD 25.6 million as of December 31, 2023[50] - The capital debt ratio was approximately 45.0% as of June 30, 2024, compared to 60.9% as of December 31, 2023[50] Cash Flow and Investments - The group's cash and bank balances fell to HKD 2,019,000 from HKD 4,837,000, a decrease of 58%[4] - The net cash generated from operating activities for the six months ended June 30, 2024, was HKD 6,568,000, a significant increase from HKD 888,000 in the same period of 2023, representing a growth of 641%[10] - The cash and cash equivalents decreased to HKD 2,019,000 at the end of the period from HKD 2,738,000 a year earlier, reflecting a decline of 26.2%[10] - The company’s total cash outflow from investing activities was HKD 611,000, significantly reduced from HKD 10,410,000 in the same period of 2023[10] - The company completed a rights issue on June 21, 2024, raising approximately HKD 12.8 million, with net proceeds of approximately HKD 10.4 million[59] Revenue Sources - Revenue from the foundation and related engineering business reached HKD 58,209,000, up 37.4% from HKD 42,394,000 in the previous year, while sales of alcoholic beverages decreased to HKD 422,000 from HKD 1,025,000[15] - Revenue from external customers in Hong Kong increased significantly to HKD 58,209 thousand in 2024, up 37.4% from HKD 42,394 thousand in 2023[21] - Major customer A contributed HKD 12,981 thousand in revenue for the first half of 2024, while customer C contributed HKD 18,284 thousand, both representing new significant revenue sources[22] Operating Expenses - Total operating expenses rose to HKD 8,865 thousand in 2024, an increase of 63.5% compared to HKD 5,405 thousand in 2023, driven by higher employee costs and other expenses[24] - Administrative and other operating expenses increased from about HKD 5.4 million for the six months ended June 30, 2023, to about HKD 8.9 million for the six months ended June 30, 2024, reflecting a rise in other expenses[46] - The total employee costs for the six months ended June 30, 2024, amounted to approximately HKD 19.4 million, an increase from HKD 11.7 million in 2023[57] Corporate Governance and Compliance - The company did not declare an interim dividend for the first half of 2024, consistent with the previous year[29] - The company did not recommend any interim dividend for the six months ended June 30, 2024, compared to none in 2023[58] - The company has complied with all applicable corporate governance codes as of June 30, 2024[68] - The audit committee has reviewed the financial reporting process and internal controls, ensuring compliance with applicable accounting standards and regulations for the six months ending June 30, 2024[70] Market and Strategic Outlook - The company plans to continue investing in technological innovation and talent development to maintain its competitive advantage in the foundation engineering market in Hong Kong[42] - The company is closely monitoring the alcohol beverage trade market in mainland China, which has significant growth potential due to increasing consumer demand[42]

Financial Performance - The total revenue for the year ended December 31, 2023, was approximately HKD 97.2 million, an increase of about HKD 10.7 million compared to the previous year[6]. - The net loss for the year ended December 31, 2023, was approximately HKD 20.3 million, compared to a net loss of approximately HKD 6.5 million for the year ended December 31, 2022[10]. - The group's revenue increased from approximately HKD 86.5 million in the year ended December 31, 2022, to approximately HKD 97.2 million in the year ended December 31, 2023, representing a growth of about 12.4%[18]. - The cost of sales rose from approximately HKD 70.2 million to approximately HKD 83.8 million, an increase of about 19.4%, which aligns with the revenue growth[19]. - Gross profit for the year ended December 31, 2023, was approximately HKD 13.3 million, down about 18.4% from approximately HKD 16.3 million in the previous year, primarily due to a decline in gross margin[20]. - The gross margin decreased to approximately 13.7% for the year ended December 31, 2023, down about 5.1 percentage points from approximately 18.8% in the previous year, attributed to intense market competition[20]. - The group recorded a loss attributable to equity holders of approximately HKD 19.8 million for the year ended December 31, 2023, compared to a loss of approximately HKD 6.5 million in the previous year[26]. - Administrative and other operating expenses increased by approximately 24.8% to about HKD 14.6 million, primarily due to higher employee costs and increased costs in the beverage sector[23]. - As of December 31, 2023, the group's cash and bank balances were approximately HKD 4.8 million, up from approximately HKD 4.1 million in the previous year[28]. - The total debt, including borrowings and lease liabilities, was approximately HKD 25.6 million as of December 31, 2023, compared to approximately HKD 17.2 million in the previous year[30]. - The capital debt ratio increased to approximately 61% as of December 31, 2023, compared to about 28% in the previous year[30]. Business Operations - The group operates as a foundation engineering contractor in Hong Kong, capable of performing various foundation works and site preparation projects[9]. - The group is involved in the trade of alcoholic beverages in China, expanding its business scope beyond engineering[9]. - The company has successfully navigated the challenges posed by the COVID-19 pandemic and is in a recovery and normalization phase[6]. - The company aims to actively explore new markets and business opportunities to continuously create value for shareholders[7]. - The company has been involved in the construction industry for over 16 years, with significant experience in project management and engineering[57]. - The company operates as a foundation subcontractor providing foundation and site leveling works in Hong Kong and engages in beverage trading in China[62]. Corporate Governance - The board includes independent non-executive directors with extensive experience in law and finance, enhancing corporate governance[55][59]. - The board consists of eight members, including two female executive directors and three independent non-executive directors, ensuring a diverse composition[141]. - The company has a diverse management team with expertise in various sectors, including finance, law, and engineering[55][57]. - The company has been actively involved in corporate governance and compliance with relevant regulations[70]. - The board is responsible for overseeing the company's overall strategy and business performance, including financial performance and internal controls[126]. - The independent non-executive directors play a significant role in providing impartial opinions on the company's strategy and performance, considering the interests of all shareholders[131]. - The company has established a framework for independent professional advice to be sought by board committees as needed, ensuring informed decision-making[164]. - The company has established a risk management procedure that includes annual risk identification and assessment, with detailed records maintained for board and management review[178]. Shareholder Relations - The company expresses gratitude to shareholders, customers, business partners, and employees for their support and trust[7]. - The board did not recommend a final dividend for the year ended December 31, 2023, consistent with the previous year[41]. - The company has a commitment to review its dividend policy regularly and reserves the right to update or modify it at any time[69]. - The company has a remuneration policy that is reviewed annually by the remuneration committee, considering operational performance and market practices[104]. - The company will only exercise its right of first refusal on business opportunities after obtaining approval from all independent non-executive directors[98]. - The company has confirmed compliance with the non-competition agreement through annual confirmations from its controlling shareholders[99]. ESG and Sustainability - The ESG report reflects the company's performance in environmental management and social responsibility for the period from January 1, 2023, to December 31, 2023[191]. - The company has identified several ESG issues relevant to its operations and has assessed their significance based on their impact on stakeholders[192]. - The company has established an internal strategy and policies aimed at creating sustainable value for stakeholders, significantly reducing its negative environmental impact[194]. - A dedicated team has been formed to manage ESG matters across various business departments, ensuring continuous monitoring and supervision of climate change progress[194]. - The company engages in open and regular communication with stakeholders, including shareholders, customers, employees, suppliers, subcontractors, and government[197]. - The company has identified 17 ESG issues relevant to its business during the materiality analysis process, focusing on quality management, customer service, and labor practices among others[199]. - The company emphasizes the importance of stakeholder feedback to improve its ESG performance and adapt to changing demands[197]. - The company is committed to maintaining competitive performance in ESG management compared to its peers[194]. Future Outlook - The group remains cautiously optimistic about future growth opportunities despite various global economic uncertainties[11]. - The company provided a positive outlook for 2024, projecting a revenue growth of 10% to 12% driven by new product launches and market expansion[142]. - New product development includes the launch of a next-generation platform expected to enhance user engagement and retention, with an anticipated market introduction in Q2 2024[142]. - Market expansion efforts are underway in Southeast Asia, targeting a 25% increase in market share by the end of 2024[142]. - The company has allocated HKD 200 million for research and development in 2024, aiming to innovate and improve existing technologies[142].

Financial Performance - The group's revenue for the year ended December 31, 2023, was HKD 97,150,000, representing an increase of 12.5% compared to HKD 86,480,000 in 2022[4] - The gross profit decreased to HKD 13,319,000, down 18.0% from HKD 16,264,000 in the previous year[4] - Operating loss for the year was HKD 19,461,000, compared to a loss of HKD 6,477,000 in 2022, indicating a significant increase in losses[4] - The net loss attributable to equity holders of the company was HKD 19,773,000, compared to HKD 6,518,000 in the prior year, reflecting a substantial increase in losses[5] - The basic and diluted loss per share for the year was HKD 17.19, compared to HKD 5.82 in the previous year, reflecting a worsening financial performance[5] - The company recorded a net loss of approximately HKD 20.3 million for the year ended December 31, 2023, compared to a net loss of approximately HKD 6.5 million for the year ended December 31, 2022[40] - The group recorded a loss attributable to owners of approximately HKD 19.8 million for the year ended December 31, 2023, compared to a loss of approximately HKD 6.5 million for the year ended December 31, 2022[55] Revenue Breakdown - Revenue for the year 2023 was HKD 97,150,000, an increase from HKD 86,480,000 in 2022, representing a growth of approximately 12.5%[20] - The revenue from foundation and related engineering was HKD 95,327,000 in 2023, up from HKD 86,178,000 in 2022, indicating a growth of about 10.5%[21] - The sales of alcoholic beverages increased significantly to HKD 1,823,000 in 2023 from HKD 302,000 in 2022, marking a growth of approximately 504.3%[20] - Total revenue from external customers for the year ended December 31, 2023, was HKD 97,150,000, an increase from HKD 86,480,000 in 2022, representing a growth of approximately 12.5%[29] Assets and Liabilities - Total assets decreased to HKD 104,305,000 from HKD 105,504,000, showing a slight decline in asset value[7] - Current liabilities increased to HKD 56,382,000 from HKD 38,643,000, indicating a rise in short-term financial obligations[9] - The total equity attributable to equity holders decreased to HKD 41,512,000 from HKD 61,284,000, indicating a decline in shareholder equity[7] - Trade receivables increased to HKD 22,777,000 in 2023 from HKD 7,287,000 in 2022, showing a substantial rise of approximately 212.5%[35] - The segment assets increased to HKD 100,939,000 in 2023 from HKD 96,141,000 in 2022, reflecting a growth of about 5.8%[28] - The segment liabilities rose significantly to HKD 59,161,000 in 2023 from HKD 40,929,000 in 2022, marking an increase of approximately 44.4%[28] Costs and Expenses - Cost of sales rose to approximately HKD 83.8 million for the year ended December 31, 2023, an increase of approximately HKD 13.6 million or 19.4% from approximately HKD 70.2 million in the prior year[49] - Employee costs increased to HKD 24,159,000 in 2023 from HKD 15,802,000 in 2022, representing a rise of approximately 52.5%[31] - Administrative and other operating expenses for the year ended December 31, 2023, were approximately HKD 14.6 million, an increase of about HKD 2.9 million or 24.8% compared to approximately HKD 11.7 million for the year ended December 31, 2022, primarily due to increased employee costs and beverage costs[52] - Financing costs increased from approximately HKD 0.6 million for the year ended December 31, 2022, to approximately HKD 1.6 million for the year ended December 31, 2023, representing an increase of about HKD 1.0 million[53] Market and Strategic Focus - The group continues to focus on foundation and related engineering services in Hong Kong and alcohol beverage trading in China, with plans for market expansion[11] - The company plans to continue investing in technological innovation and talent development to maintain its competitive edge in the foundation engineering sector[41] - The company is closely monitoring the alcohol beverage trade market in mainland China, anticipating growth due to increasing consumer demand[41] Other Financial Information - The company did not recommend any final dividend for the year ended December 31, 2023, consistent with the previous year[34] - The company has recognized a total of HKD 261,000 in other income and gains, down from HKD 1,496,000 in the previous year[20] - The company's other income decreased to approximately HKD 0.3 million for the year ended December 31, 2023, down from approximately HKD 1.5 million in the previous year, primarily due to the absence of government subsidies related to the COVID-19 pandemic[51] - The company anticipates that the new accounting standards will not have a significant impact on the consolidated financial statements in the foreseeable future[16] - The company is currently evaluating the impact of the long service payment amendment regulations on its obligations[19] - The company has not adopted the new and revised Hong Kong Financial Reporting Standards that have been issued but are not yet effective[16] Audit and Compliance - The consolidated financial statements for the year ended December 31, 2023, have been reviewed and are consistent with the amounts reported in the group's financial statements[75] - The audit committee believes that the consolidated financial statements comply with applicable accounting standards and GEM listing rules, ensuring adequate disclosure[75] Customer and Stakeholder Relations - Major customer A contributed HKD 29,753,000 to total revenue in 2023, while customer C contributed HKD 21,043,000 in 2022[30] - The company expresses gratitude to customers, suppliers, business partners, shareholders, and employees for their support and contributions during the year[77]

Financial Performance - For the three months ended September 30, 2023, the group's revenue was HKD 19,382,000, an increase of 32.5% compared to HKD 14,599,000 for the same period in 2022[3] - The gross profit for the three months ended September 30, 2023, was HKD 3,152,000, slightly down by 2.3% from HKD 3,227,000 in the previous year[3] - Operating profit for the three months ended September 30, 2023, increased to HKD 638,000, representing a 60.5% rise from HKD 398,000 in the same quarter of 2022[3] - The net profit for the three months ended September 30, 2023, was HKD 16,000, a decrease of 82.0% compared to HKD 89,000 in the prior year[3] - For the nine months ended September 30, 2023, total revenue was HKD 62,801,000, a slight decrease of 0.3% from HKD 62,998,000 in the same period of 2022[3] - The basic and diluted earnings per share for the three months ended September 30, 2023, were HKD 0.06, down from HKD 0.08 in the same period of 2022[4] - The total comprehensive income for the three months ended September 30, 2023, was HKD 71,000, compared to HKD 89,000 in the previous year, reflecting a decrease of 20.2%[4] - The net profit attributable to the owners of the company for the period was approximately HKD 0.12 million, compared to approximately HKD 0.26 million for the same period in 2022[20] Costs and Expenses - The group reported a financing cost of HKD 487,000 for the three months ended September 30, 2023, compared to HKD 112,000 in the same quarter of 2022, indicating a significant increase in financing expenses[3] - Other income and gains decreased by approximately 80.4% to about HKD 0.2 million, primarily due to a reduction in rental income[27] - Administrative and other operating expenses for the period were approximately HKD 7.9 million, a decrease of about 7.8% from approximately HKD 8.5 million for the nine months ended September 30, 2022[28] - The company recorded a decrease in sales costs to approximately HKD 53.6 million for the nine months ended September 30, 2023, from approximately HKD 54.5 million for the same period in 2022[25] Equity and Shareholder Information - The group’s total equity as of September 30, 2023, was HKD 61,695,000, an increase from HKD 61,607,000 at the beginning of the year[6] - As of September 30, 2023, Mr. Liu holds 51,000,000 shares, representing 44.35% of the company's equity[32] - The company did not purchase, sell, or redeem any shares during the reporting period[36] - There were no significant changes in the interests of major shareholders or other individuals in the company's shares as of September 30, 2023[35] Corporate Governance - The audit committee reviewed the financial reporting process and confirmed compliance with applicable accounting standards and GEM listing rules[44] - The company maintains a commitment to good corporate governance practices, emphasizing a high-quality board and effective internal controls[42] - The board of directors confirmed adherence to the trading regulations and the code of conduct for securities transactions during the reporting period[39] - The company has adopted a share option scheme to attract and retain top talent, although no options were exercised during the period[40] - No directors or major shareholders engaged in any business that competes directly or indirectly with the company during the reporting period[37] Business Operations - The company has been engaged in foundation and related engineering services in Hong Kong and alcohol beverage trading in China, indicating ongoing market expansion efforts[7] - The overall business environment remains challenging, influenced by the ongoing effects of the COVID-19 pandemic on the construction industry in Hong Kong[21] - The company did not recommend any dividend for the period, consistent with the previous year[18] - The company has not disclosed any new product developments or market expansion strategies in the current report[38] - The company will continue to monitor project progress and maintain communication with suppliers and subcontractors to enhance operational efficiency and profitability[21]

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佈的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示概不就因本公佈全部或任何 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。 BASETROPHY GROUP HOLDINGS LIMITED 基地錦標集團控股有限公司 （於開曼群島註冊成立之有限公司） （股份代號：8460） 截至二零二三年九月三十日止九個月 第三季度業績公佈 香港聯合交易所有限公司（「聯交所」）GEM的特色 GEM的定位，乃為中小型公司提供一個上市的市場，此等公司相比起其他在聯交 所上市的公司帶有較高投資風險。有意投資的人士應了解投資於該等公司的潛在 風險，並應經過審慎周詳的考慮後方作出投資決定。 由於GEM上市公司普遍為中小型公司，在GEM買賣的證券可能會較於主板買賣 之證券承受較大的市場波動風險，同時無法保證在GEM買賣的證券會有高流通量 的市場。 本公佈乃遵照聯交所GEM證券上市規則（「GEM上市規則」）而刊載，旨在提供有 ...

Financial Performance - For the three months ended June 30, 2023, the group's revenue was HKD 29,191,000, a decrease of 6.6% compared to HKD 31,277,000 for the same period in 2022[9] - The gross profit for the six months ended June 30, 2023, was HKD 6,092,000, representing an increase of 14.9% from HKD 5,303,000 in the previous year[9] - Operating profit for the three months ended June 30, 2023, was HKD 510,000, up 36.4% from HKD 374,000 in the same period last year[9] - The net profit for the six months ended June 30, 2023, was HKD 105,000, a decrease of 38.6% compared to HKD 171,000 for the same period in 2022[11] - The group’s net profit for the six months ended June 30, 2023, was approximately HKD 17 million, a decrease from approximately HKD 171 million for the same period in 2022, reflecting a significant decline in profitability[46] - Revenue for the six months ended June 30, 2023, was HKD 43,419,000, down 10.5% from HKD 48,399,000 in the prior year[24] - Other income for the six months ended June 30, 2023, totaled HKD 207,000, a decrease of 54.8% compared to HKD 458,000 for the same period in 2022[25] - The company reported a net loss attributable to equity holders of HKD 185,000 for the three months ended June 30, 2023, compared to a profit of HKD 85,000 in the same period last year[32] - Basic loss per share for the three months ended June 30, 2023, was HKD (0.04), compared to earnings of HKD 0.08 per share in the prior year[32] Assets and Liabilities - The total assets as of June 30, 2023, amounted to HKD 125,532,000, an increase of 19.0% from HKD 105,504,000 at the end of 2022[12] - Total liabilities increased to HKD 63,908,000 as of June 30, 2023, up from HKD 43,897,000 at the end of 2022, representing a 45.6% increase[13] - The company’s borrowings increased to HKD 17,704,000 in current liabilities as of June 30, 2023, compared to HKD 11,698,000 at the end of 2022, marking a 51.5% increase[13] - Total borrowings rose to HKD 24,362,000 as of June 30, 2023, from HKD 15,192,000 as of December 31, 2022, reflecting increased leverage[41] - The total debt (including borrowings and lease liabilities) as of June 30, 2023, was approximately HKD 25.9 million, an increase from HKD 17.2 million as of December 31, 2022[57] Cash Flow and Liquidity - Cash and bank balances decreased to HKD 2,737,000 from HKD 4,147,000 at the end of 2022, indicating a liquidity contraction[12] - Cash and cash equivalents decreased to HKD 2,738,000 at the end of June 2023, down from HKD 4,352,000 at the beginning of the period[15] - The net cash generated from operating activities for the six months ended June 30, 2023, was HKD 888,000, compared to a net cash outflow of HKD 169,000 for the same period in 2022[15] - The company’s financing activities generated a net cash inflow of HKD 8,008,000 for the six months ended June 30, 2023, compared to a net cash outflow of HKD 883,000 for the same period in 2022[15] Expenses and Costs - Total expenses for the six months ended June 30, 2023, were HKD 5,347,000, slightly up from HKD 5,038,000 in the same period of 2022[27] - Financing costs for the six months ended June 30, 2023, increased to HKD 625,000 from HKD 247,000 in the previous year[27] - The total employee costs for the six months ended June 30, 2023, were approximately HKD 11.7 million, compared to HKD 8.4 million for the same period in 2022[67] Shareholder and Governance - The company did not declare an interim dividend for the six months ended June 30, 2023, consistent with the previous year[35] - The board did not recommend the payment of an interim dividend for the six months ended June 30, 2023[68] - As of June 30, 2023, the major shareholder, Kaihao, holds 51,000,000 shares, representing 44.35% of the total equity[74] - No shares were purchased, sold, or redeemed by the company or its subsidiaries during the six months ending June 30, 2023[75] - There were no competitive businesses or conflicts of interest involving directors or major shareholders during the six months ending June 30, 2023[76] - The company has adopted the GEM Listing Rules for securities trading by directors, and all directors confirmed compliance during the six months ending June 30, 2023[78] - The company has adhered to all applicable corporate governance codes as per the GEM Listing Rules during the six months ending June 30, 2023[80] - The Audit Committee, consisting of independent non-executive directors, reviewed the financial reporting process and internal controls for the six months ending June 30, 2023[82] Future Plans and Market Strategy - The company plans to focus on expanding its market presence and enhancing product development in the upcoming quarters[9] - The group plans to expand its property agency business beyond Hong Kong, targeting markets including Japan, the Middle East, and mainland China[47] - The group aims to enhance operational efficiency and profitability while actively seeking potential opportunities to expand revenue sources and increase shareholder value[47] Other Financial Metrics - The company incurred a loss of HKD 46,000 in retained earnings for the six months ended June 30, 2023, compared to a profit of HKD 171,000 for the same period in 2022[14] - The company reported a total equity of HKD 61,624,000 as of June 30, 2023, slightly up from HKD 61,607,000 at the beginning of the year[14] - The company's equity attributable to owners was HKD 61,193,000, slightly down from HKD 61,284,000 in the previous year[12] - Deferred tax liabilities as of June 30, 2023, amounted to HKD 1,014,000, reflecting changes in tax provisions and losses[37] - The aging analysis of trade receivables shows that HKD 3,727,000 was overdue as of June 30, 2023, down from HKD 4,369,000 as of December 31, 2022, indicating improved collection efforts[12] - Trade receivables increased to HKD 16,703,000 as of June 30, 2023, compared to HKD 7,287,000 as of December 31, 2022, indicating a significant rise in outstanding payments[12] - Trade payables increased to HKD 22,487,000 as of June 30, 2023, compared to HKD 10,052,000 as of December 31, 2022, indicating higher obligations to suppliers[42] - The capital debt ratio as of June 30, 2023, was approximately 42.0%, up from 28.0% as of December 31, 2022[57] - The company invested HKD 10,410,000 in property, plant, and equipment during the six months ended June 30, 2023[15] - The company invested approximately HKD 10.4 million in property, plant, and equipment during the six months ended June 30, 2023, compared to no investment in the same period last year[36] - The group recorded a profit attributable to owners of the company of approximately HKD 17,000 for the six months ended June 30, 2023, compared to a profit of approximately HKD 171,000 for the same period in 2022[53] - The gross profit margin for the six months ended June 30, 2023, was approximately 14%, up by about 3 percentage points from approximately 11% for the same period in 2022[51] - The group's administrative and other operating expenses increased from approximately HKD 5 million for the six months ended June 30, 2022, to approximately HKD 5.3 million for the same period in 2023[52]

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佈之內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示概不就因本公佈全部或任何 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。 BASETROPHY GROUP HOLDINGS LIMITED 基地錦標集團控股有限公司 （於開曼群島註冊成立之有限公司） （股份代號：8460） 截至二零二三年六月三十日止六個月 中期業績公佈 香港聯合交易所有限公司（「聯交所」）GEM的特色 GEM的定位，乃為中小型公司提供一個上市的市場，此等公司相比起其他在主板 上市的公司帶有較高投資風險。有意投資的人士應了解投資於該等公司的潛在風險， 並應經過審慎周詳的考慮後方作出投資決定。 由於GEM上市公司普遍為中小型公司，在GEM買賣的證券可能會較於主板買賣 之證券承受較大的市場波動風險，同時無法保證在GEM買賣的證券會有高流通量 的市場。 本公佈乃遵照聯交所GEM證券上市規則（「GEM上市規則」）而刊載，旨在提供有 ...