Financial Performance - The group's revenue for the fiscal year 2023 was approximately HKD 671.5 million, an increase of about HKD 322.9 million or 92.6% compared to the fiscal year 2022[11] - The gross profit decreased by approximately HKD 23.1 million, resulting in a gross profit margin drop from 13.3% in fiscal year 2022 to 3.5% in fiscal year 2023 due to increased costs in materials, labor, and subcontracting[11] - Other income for the fiscal year 2023 was approximately HKD 2.8 million, a decrease of about HKD 5.6 million compared to fiscal year 2022, primarily due to reduced government subsidies received through the "Employment Support Scheme"[12] - The group recorded a net other loss of approximately HKD 2.1 million in fiscal year 2023, an improvement from a net other loss of approximately HKD 8.2 million in fiscal year 2022[13] - Total profit and comprehensive income decreased by approximately HKD 32.4 million, mainly due to a reduction in gross profit of about HKD 23.1 million and a rise in administrative expenses of HKD 8.8 million[16] Project and Business Focus - The group plans to focus on three major projects, including providing complete engineering services to Mary Hospital, the Causeway Bay District Court, and the Kai Tak New Emergency Hospital[10] - The group currently holds over HKD 1 billion in contract orders, reflecting confidence in future sales orders and cost control[7] - The group aims to explore new business opportunities and investment prospects to expand its operations and provide additional returns to shareholders[8] - The group has decided to sell its investment properties due to the poor performance of the Hong Kong real estate market[10] Cost Control and Operational Efficiency - The group will continue to implement strict cost control measures while maintaining service quality amid challenges from the real estate market due to recent interest rate hikes by the Federal Reserve[8] - Administrative expenses increased by approximately HKD 8.8 million in the fiscal year 2023 compared to 2022, primarily due to rising employee costs[15] Governance and Board Structure - The company appointed a new CEO on April 26, 2023, separating the roles of chairman and CEO to enhance governance[45] - The board held 15 meetings during the fiscal year, with some meetings having less than the required 14 days' notice due to urgent business matters[35] - The board has complied with the listing rules by appointing at least three independent non-executive directors, with at least one possessing appropriate professional qualifications or accounting expertise[36] - The audit committee held two meetings during the year to review the financial statements and discuss risk management and internal control systems[47] - The company encourages continuous professional development for directors, requiring annual training records to be submitted[44] Shareholder Relations and Dividends - The company reported no dividend payment for the fiscal year 2023, consistent with the previous fiscal year[81] - As of September 30, 2023, the company's distributable reserves amounted to approximately HKD 94.6 million, which includes share premium and stock option reserves after deducting accumulated losses[86] - The company is committed to maintaining effective communication with shareholders and investors through various reports and announcements[62] Employee and Training Metrics - The number of employees increased to 948 as of September 30, 2023, from 808 in the previous fiscal year, including 84 long-term employees[21] - The group provided training to 948 employees in 2023, an increase from 808 employees in 2022, reflecting a 17.4% growth in trained personnel[196] - Total training hours increased to 3,298 hours in 2023 from 2,424 hours in 2022, marking a 36.1% rise[196] - The average training hours per employee rose to 3.48 hours in 2023 from 3 hours in 2022, indicating a 16% increase[196] Environmental, Social, and Governance (ESG) Initiatives - The ESG report outlines the group's commitment to sustainable development and green operations, focusing on environmental, social, and governance initiatives[132] - The total greenhouse gas emissions for the reporting period were approximately 81.29 tons, an increase from 61.20 tons in the previous year, with a per-employee emission of 0.09 tons compared to 0.08 tons in the prior year[150] - The company aims to reduce greenhouse gas emissions by 2% in the upcoming year, implementing measures such as optimizing vehicle usage and maintaining vehicles regularly[151] - The group emphasizes the importance of health and safety management systems and training for employees as part of its social responsibility[141] Supplier and Subcontractor Management - The group emphasizes the importance of supplier compliance with quality, environmental, and safety standards, with strict evaluation processes in place[199] - The company monitors resource usage, wastewater, waste gas, and waste management of subcontractors[200] - The company investigates any non-compliance with environmental principles and takes corrective actions[200] Risk Management and Compliance - The board confirmed that the risk management and internal control systems are effective and sufficient[58] - The company has not reported any significant violations of environmental laws and regulations during the reporting period[147] - The company has confirmed compliance with non-competition agreements with major shareholders as of September 30, 2023[115]
高丰集团控股(02863) - 2023 - 年度财报