Financial Performance - Revenue for the year ended December 31, 2022, was HKD 7,668,983, representing a 21.8% increase from HKD 6,294,827 in 2021[2] - Profit attributable to shareholders increased by 44.5% to HKD 421,852 from HKD 291,976 in the previous year[2] - Basic earnings per share rose by 41.0% to HKD 19.11 compared to HKD 13.55 in 2021[2] - Gross profit for the year was HKD 825,305, up from HKD 676,854 in 2021[4] - The company reported a net profit of HKD 409,960 for the year, up from HKD 283,907 in 2021[5] - The pre-tax profit for 2022 was HKD 508,214,000, an increase of 28.3% compared to HKD 395,973,000 in 2021[15] - The total revenue for the year 2022 was HKD 7,668,983,000, representing an increase of 21.9% from HKD 6,294,827,000 in 2021[15] - The total cost of sales for the year was HKD 6,843,678,000, which increased from HKD 5,617,973,000 in 2021, marking a rise of 21.8%[19] Assets and Liabilities - The total assets less current liabilities increased to HKD 3,588,072 from HKD 2,888,464 in 2021[8] - Non-current assets decreased to HKD 2,285,744 from HKD 2,621,072 in 2021[7] - Cash and cash equivalents at year-end were HKD 974,838, compared to HKD 928,104 in 2021[7] - The company's equity attributable to shareholders increased to HKD 2,092,325 from HKD 1,670,735 in 2021[8] - The company’s bank borrowings amounted to HKD 1.326 billion as of December 31, 2022, slightly down from HKD 1.333 billion in 2021[29] - The company’s non-current bank borrowings stood at HKD 906.012 million as of December 31, 2022, compared to HKD 508.593 million in 2021, showing an increase of 77.9%[29] - Trade payables increased significantly to HKD 3.486 billion in 2022 from HKD 2.072 billion in 2021, indicating a rise of 68%[30] Revenue Segments - The group operates in three main segments: curtain wall engineering, general contracting, and operational management, with operational management including urban development management and consulting services[14] - The revenue from the curtain wall engineering segment was HKD 5,784,122,000, up 29.2% from HKD 4,478,100,000 in 2021[15] - The operating management segment generated revenue of HKD 989,869,000, a slight decrease of 2.0% from HKD 1,010,135,000 in 2021[15] - The revenue from the operation management segment declined to HKD 990 million from HKD 1.010 billion in 2021, with operating profit dropping to HKD 64 million from HKD 181 million[41] Dividends and Shareholder Returns - The company declared an interim dividend of HKD 0.041 per share for 2022, up from HKD 0.03 per share in 2021, and proposed a final dividend of HKD 0.024 per share, compared to HKD 0.017 per share in 2021[24] - The board proposed a final dividend of HKD 0.024 per share, increasing from HKD 0.017 per share in the previous year, resulting in a total annual dividend of HKD 0.065 per share[54] Operational Highlights - The company successfully launched the photovoltaic curtain wall product Light S and is continuing to develop new photovoltaic curtain wall products[35] - The company has a backlog of contracts amounting to approximately HKD 26.108 billion, with unfinished contracts valued at about HKD 13.403 billion[44] - The company raised approximately HKD 219 million from a share placement at HKD 2.20 per share, with net proceeds allocated 70.78% for Macau and 29.22% for Hong Kong curtain wall project materials and contract payments[48] Employee and Market Strategy - The company employed a total of 4,964 employees as of December 31, 2022, up from 4,434 employees in the previous year[50] - The company’s strategy focuses on expanding in Hong Kong and Macau while contracting overseas operations, leveraging its brand advantage in the façade industry[32] - The company plans to maintain a focus on high-end markets and enhance project management to improve competitiveness in the curtain wall business[52] - The company aims to strengthen its design teams in Hong Kong and North America while expanding its design team in mainland China to meet project demands[53] Governance and Compliance - The company has adhered to all applicable corporate governance codes as per the Hong Kong Stock Exchange regulations[58] - The audit committee, composed of three independent non-executive directors, has reviewed the consolidated financial statements for the year ended December 31, 2022[60] - The financial figures presented in the announcement have been acknowledged by the external auditor, Ernst & Young, for the group's consolidated financial statements for the year ended December 31, 2022[60] - Ernst & Young's work does not constitute an assurance engagement under the Hong Kong Standards on Auditing, and therefore, no opinion or assurance conclusion has been issued[60] Economic Outlook - The company anticipates strong economic recovery in the Hong Kong and Macau regions, driven by the reopening with mainland China and other countries[51] - The group has adopted new accounting standards effective from January 1, 2022, with no significant impact on financial performance due to the absence of business combinations during the year[10] - The group reported no changes in financial liabilities during the year, resulting in no impact on financial position or performance from the amendments to HKFRS 9[12] Other Information - Other comprehensive income for the year was a loss of HKD 95,132, compared to a gain of HKD 98,961 in 2021[6] - The administrative, sales, and other operating expenses increased by 6.2% to HKD 291 million due to the expansion of the curtain wall engineering business[42] - The company maintained a yield of 10.2% to 10.7% on its infrastructure project investments, consistent with the previous year[27] - The estimated taxable profit for the year was calculated based on a tax rate of 16.5% for Hong Kong profits tax[22] - The company reported net other income of HKD 25,432,000 for 2022, compared to HKD 22,622,000 in 2021, reflecting a growth of 12.4%[18] - The depreciation expense for property, plant, and equipment was HKD 138,478,000 in 2022, down from HKD 171,681,000 in 2021[19] - The net cash inflow from operating activities for the year 2022 was HKD 246 million[49] - No significant subsequent events have occurred since the end of the financial year up to the announcement date[59] - The chairman expressed gratitude to shareholders, customers, suppliers, and employees for their support and hard work[61] - The board of directors includes the chairman and non-executive director Zhang Haipeng, along with executive directors and independent non-executive directors[61]
中国建筑兴业(00830) - 2022 - 年度业绩