Company Overview - DIT Group Limited operates 19 self-operated prefabricated construction (PC) plants across China, positioning itself as a leader in the smart building sector[19]. - The Group's services currently cover projects with a total site area of approximately 6 million square meters in China[22]. - DIT Group Limited is recognized as the first listed company in the prefabricated construction industry, emphasizing its innovative high-tech enterprise status[19]. - The Group is dedicated to achieving industrialization, informationalization, and technologicalization in the construction sector during China's 10-year golden era of construction industrialization[21]. - The Company has established several smart production lines, leading the industry in terms of the number of such lines in China[22]. - DIT Group Limited focuses on providing green buildings and one-stop home solutions as part of its strategic mission[21]. Financial Performance - For the year ended December 31, 2024, the Group achieved sales revenue of approximately HK$374.0 million, a year-on-year decrease of approximately 56.9%[34]. - The gross profit totaled approximately HK$9.5 million, representing a year-on-year decrease of approximately 81.0%[34]. - The net loss attributable to the parent company reached HK$464.5 million[34]. - In 2024, the company's revenue decreased by 56.9% to HK$373,990,000, with a gross profit margin of 2.5%, down from 5.8% in 2023[56]. - The net loss for 2024 was HK$494,158,000, representing a 49.6% increase in losses compared to HK$330,234,000 in 2023[56]. - The total assets decreased by 13.3% to HK$5,489,993,000, while total liabilities decreased by 8.1% to HK$3,471,457,000[59]. - The Group's cash and cash equivalents decreased to approximately HK$6.4 million in 2024 from approximately HK$9.3 million in 2023, with a current ratio of 0.7[145]. - Borrowings decreased to approximately HK$1,679.7 million in 2024 from approximately HK$1,727.5 million in 2023, resulting in a net gearing ratio of 86.0%[145]. - The Group's interest payable increased to HK$61.97 million as of December 31, 2024, from HK$12.32 million in the previous year[156]. - The Board does not recommend any dividend payment for the year ended December 31, 2024, consistent with the previous year[158]. Market Position and Strategy - The Group's technologies and products have received wide recognition from clients, indicating strong market acceptance[22]. - The overseas business is expected to be a key growth driver, with significant increases in new contracts under the Belt and Road Initiative[62]. - The Group aims to strengthen its national sales network and factory layout to ensure production capacity and quality in 2025[48]. - The Group aims to increase project profit margins to 18% through the development of the "Hybrid Tower EPC" model in collaboration with partners like Goldwind, targeting the 60GW onshore wind power installation goal by 2025[91][94]. - The Group has been recognized as a top strategic supplier in the real estate industry for seven consecutive years, reflecting its strong market position[87]. Production and Capacity - The Group's production capacity includes 19 PC factories and one prefabricated interior industrial park with a total design capacity of 1.34 million cubic meters[41]. - The output and sales volume of PC units were approximately 145,000 cubic meters and 167,000 cubic meters respectively[41]. - The sales volume of precast concrete (PC) components was approximately 167,000 cubic meters, representing a year-on-year decrease of approximately 43.1%[73]. - The Group's PC factories had a designed production capacity of 1.34 million cubic meters as of December 31, 2024[73]. Innovation and Technology - The Company aims to transform traditional construction methods to a "precast components + on-site assembly" model, enhancing efficiency and sustainability in the construction industry[21]. - The Group's digital management system aims to achieve standardized design, factory manufacturing, and intelligent operation, reducing component production error rates to less than 0.5mm[110]. - The integration of BIM and ERP systems will empower data connectivity across the entire process of design, manufacturing, and construction, improving overall efficiency[111]. - The Group is committed to enhancing R&D in prefabricated building technologies, aiming for breakthroughs in lightweight non-stressed wall panels to improve green building standards[99][105]. - The RIFF system, a new prefabricated construction technology, has been patented and is expected to have significant market prospects and economic benefits[105][107]. Challenges and Future Outlook - The area of newly constructed prefabricated buildings in China amounted to approximately 750 million square meters, representing a year-on-year decrease of 1%[31]. - The construction area in the industry decreased by 10% in 2024, with the new housing construction area down by 23% to 740 million square meters[60]. - The Group plans to promote the digital system in the industry to serve domestic and overseas PC manufacturing plants, leading the transformation of digitization in the construction industry[112]. - The Group aims to explore collaboration opportunities with strategic investors to enhance operational efficiencies and support business expansion[152]. - The Group plans to launch an "old house renovation + prefabricated decoration" package, targeting a conversion rate of 5% among 400,000 property owners[97][100]. Legal and Compliance - As of December 31, 2024, the Group faced litigations totaling approximately RMB 573,612,000 (equivalent to HK$ 619,425,000), an increase from RMB 265,393,000 (equivalent to HK$ 292,863,000) in 2023[179]. - The Group's directors believe that no provision should be made for the estimated liabilities related to the ongoing litigations based on legal counsel advice[179]. - There were no material contingent liabilities reported by the Group as of December 31, 2024[176].

Financial Performance - The company's revenue for the reporting period reached approximately RMB 906.8 million, an increase of about 28.5% compared to the previous year[11]. - The net profit for the reporting period was approximately RMB 51.3 million, reflecting a growth of about 17.7% year-on-year[11]. - The CMS business revenue increased to approximately RMB 575.4 million, representing a growth of about 36.8% from RMB 420.6 million in the previous year[16]. - The OBM business revenue decreased to approximately RMB 25.7 million, a decline of about 65.8% from RMB 75.2 million in the previous year[17]. - The company reported a total comprehensive income attributable to owners of approximately RMB 37.8 million, down from RMB 39.1 million the previous year[13]. - The company's basic earnings per share were approximately RMB 0.10, compared to RMB 0.09 in the previous year[11]. - The wholesale business revenue for 2024 was approximately RMB 305,700,000, an increase of about 45.6% compared to RMB 209,900,000 in 2023[20]. - The sales cost for the reporting period was approximately RMB 765,000,000, representing an increase of about 33.6% from RMB 572,600,000 in 2023[21]. - The gross profit recorded was approximately RMB 141,800,000, an increase of about 6.5% from RMB 133,100,000 in 2023, with a gross margin of 15.6%, down 3.3% from 18.9% in 2023[22]. - The net profit for the period was approximately RMB 51,300,000, an increase of about 17.7% from RMB 43,600,000 in 2023, with a net profit margin decreasing from 6.2% in 2023 to 5.7% in 2024[23]. Strategic Initiatives - The company plans to enhance its strategic customer relationships and expand its domestic market presence while developing high-value-added products[11]. - The company aims to increase its investment in e-commerce channels to boost sales[11]. - The company is exploring potential investment opportunities to enhance competitiveness and synergy[11]. - The group plans to continue upgrading existing production lines to improve automation and product quality, and will invest in the development of aerosol products through its Chinese subsidiaries[52]. - For the fiscal year 2025, the group aims to strengthen supply chain construction, control procurement costs, and enhance R&D capabilities to develop high-value-added products[53]. - The group will continue to expand and develop its sales network and platforms to achieve business growth[52]. Corporate Governance - The company has adhered to the corporate governance code as per the Hong Kong Stock Exchange regulations, with a commitment to maintaining high standards of corporate governance[55]. - The board of directors emphasizes the importance of corporate culture, focusing on ethical and responsible conduct across all levels of the organization[57]. - The company aims to enhance long-term value for shareholders and stakeholders by focusing on financial performance and environmental, social, and governance (ESG) factors for sustainable growth[58]. - The board is responsible for strategic decision-making and overseeing financial performance, ensuring alignment with the company's long-term goals[59]. - The board consists of three executive directors and three independent non-executive directors, ensuring compliance with listing rules regarding independence and expertise[62]. - The company has adopted a "Director Nomination Procedure" to ensure a transparent and thoughtful process for evaluating and selecting board candidates[68]. - The board's composition reflects a balance of skills and experience necessary for effective leadership and governance, particularly in the aerosol industry[65]. - The company is committed to maintaining high standards of corporate governance and compliance with financial reporting regulations[63]. - The board will propose the reappointment of directors who are eligible and willing to stand for re-election at the upcoming annual general meeting[68]. Environmental, Social, and Governance (ESG) Practices - The company is increasingly aware of its ESG responsibilities and is focused on supporting a transition to a low-carbon and sustainable future[58]. - The board's responsibilities include overseeing business operations, strategy development, and ensuring the company's long-term success[66]. - The company has established a clear governance structure for environmental, social, and governance (ESG) matters, with a dedicated ESG working group consisting of 6 members, including 3 executive directors and 3 independent non-executive directors[149]. - The board of directors has spent significant time assessing the impact of ESG-related risks on operations and developing relevant policies to address these risks[148]. - The company is committed to maintaining high environmental management standards, continuously improving its environmental management system, and has achieved certification compliant with ISO 14001:2015[153]. - The company has implemented various measures to enhance employee environmental awareness and promote environmentally friendly work habits[153]. - The company conducts regular stakeholder engagement to understand their expectations and concerns, which informs better decision-making and impact management[144]. - The company engages in community participation and charitable activities to fulfill its social responsibilities[144]. Climate Change and Risk Management - The company is actively addressing climate-related risks as part of its operational strategy, focusing on the physical impacts of climate change, such as extreme weather events, which are considered operational risks[179]. - The company has established a governance framework to identify, assess, and manage climate-related risks, with oversight from the board of directors[191]. - The company collaborates with government and relevant institutions to stay updated on regulatory and financial policy changes related to climate change[191]. - The company has identified significant climate-related risks that could impact its operations, products, supply chain, and financial planning, and has implemented measures to manage these risks[192]. - The company is exploring various climate scenarios to assess potential impacts on its operations and to identify new risks that may arise from future climate changes[189]. - Transition risks include rising operational costs due to stricter environmental regulations and increased insurance premiums, necessitating significant compliance expenditures[197]. - The company plans to invest in energy-efficient product innovation to mitigate technology risks associated with increased capital and R&D expenditures[199]. - The company is monitoring updates on climate-related environmental policies to avoid unnecessary costs and expenditures[197]. Operational Metrics - Total assets as of December 31, 2024, were approximately RMB 1,694,800,000, an increase from RMB 1,389,000,000 in 2023, with a net current liability of approximately RMB 266,400,000[35]. - Inventory increased by approximately 18.5% to about RMB 57,600,000 from RMB 48,600,000 in 2023, primarily due to expanded production capacity[32]. - Accounts receivable as of December 31, 2024, were approximately RMB 90,100,000, an increase of about 24.4% from RMB 72,400,000 in 2023[33]. - The group employed a total of 486 employees as of December 31, 2024, compared to 423 employees in 2023, with total employee costs amounting to approximately RMB 55,000,000, up from RMB 43,800,000 in 2023[43]. - The total air pollutant emissions for 2024 were 630.68 kg of nitrogen oxides, 78.69 kg of sulfur dioxide, and 16.10 kg of particulate matter, showing an increase from 2023[158]. - The total greenhouse gas emissions for 2024 were 5,296.06 tons of CO2 equivalent, a decrease from 6,965.77 tons in 2023[160]. - The total water consumption in 2024 was 401,312 cubic meters, significantly higher than 175,597 cubic meters in 2023, marking an increase of about 128.5%[174]. - The total packaging materials consumed in 2024 amounted to 16,452.35 tons, up from 14,446.55 tons in 2023, which is an increase of approximately 13.9%[176].

Financial Performance - Revenue for the year ended December 31, 2024, was RMB 23,029,033,000, representing a 1.3% increase from RMB 22,725,317,000 in 2023[6] - Gross profit surged to RMB 2,863,372,000, a significant increase of 95.8% compared to RMB 1,462,615,000 in 2023[6] - The company reported a profit for the year of RMB 588,629,000, a turnaround from a loss of RMB 299,382,000 in 2023[6] - Earnings per share (basic and diluted) improved to RMB 0.60, compared to a loss of RMB 0.41 per share in 2023[6] - The Group's net profit for 2024 was approximately RMB 588.6 million, a significant recovery from a net loss of approximately RMB 299.4 million in the previous year[26] - Profit attributable to shareholders was approximately RMB553.5 million, compared to a loss of approximately RMB375.7 million in the previous year[26] - Basic earnings per share improved to RMB0.60, recovering from a basic loss per share of RMB0.41 in the previous year[26] Assets and Liabilities - Total assets decreased by 8.0% to RMB 20,982,724,000 from RMB 22,811,172,000 in 2023[8] - Total liabilities reduced by 16.9% to RMB 10,845,439,000 from RMB 13,055,814,000 in 2023[8] - The current ratio improved to 1.4 from 1.3 in 2023, indicating better short-term financial health[9] - Net debt to equity ratio decreased to 0.36 from 0.60 in 2023, reflecting a stronger equity position[9] Production and Capacity - The company operates approximately 4.21 million spindles and about 1,650 weaving and knitting machines as of December 31, 2024[11] - The Group's production capacity for knitted garment fabrics decreased significantly due to the sale of a loss-making factory, resulting in a sales volume drop from approximately 15,400 tonnes to approximately 10,900 tonnes and a revenue decline from approximately RMB 797.4 million to approximately RMB 551.6 million[42] - As of December 31, 2024, the Group's production facilities included approximately 4.21 million spindles, with a slight increase in yarn production capacity due to completed construction projects[50][54] Sales and Market Trends - The Group's revenue for the year increased by approximately 1.3% to approximately RMB 23.0 billion, with yarn sales accounting for approximately 77.8% of total revenue, amounting to approximately RMB 17.9 billion, representing a growth of approximately 2.1% compared to last year[35] - Sales volume of yarns grew by approximately 4.0% to approximately 770,000 tonnes, driven by recovering market demand and increased consumer interest in outdoor sports[36] - The textile industry in China saw total sales of approximately RMB2,398.8 billion in 2024, with a year-on-year growth of 3.6%[27] - The total sales of sizeable textile garment and apparel enterprises amounted to approximately RMB1,269.9 billion, representing a year-on-year increase of 2.8%[27] Cost Management - The cost of sales decreased by 5.2% to approximately RMB 20.2 billion in 2024, with raw materials accounting for about 76.1% of the total cost[72] - Selling and distribution costs for the year ended December 31, 2024, amounted to approximately RMB 650.1 million, representing an 11.0% decrease compared to 2023[77] - General and administrative expenses for the year ended December 31, 2024, were approximately RMB 1.156 billion, a decrease of 2.0% compared to 2023, accounting for 5.0% of the Group's revenue[78] Strategic Initiatives - The Group plans to continue its product differentiation strategy and focus on innovation to solidify its market position[22] - Strict control over capital expenditures will be maintained to ensure efficient utilization of financial resources[22] - The Group aims to enhance production efficiency and product quality through technological upgrades and modern intelligent manufacturing[22] - The Group is actively responding to market demand by leading the research and development of products that meet market needs[36] Risk Management - The Group faces significant risks including business and product concentration, which could adversely affect profitability if market trends shift or competition intensifies[117] - Cotton price fluctuations pose a risk to the Group's gross profit margin, as cotton is a major production material and its price may not align with end-product prices[119] - Foreign exchange and interest rate fluctuations could lead to material losses and increased financing costs, particularly with intensified USD/RMB exchange rate volatility[121] - The Group is implementing measures to mitigate risks associated with cotton price fluctuations, including stable procurement strategies and diversifying into synthetic fiber products[123] Corporate Governance - The Group is committed to maintaining high levels of corporate governance, with a Board comprising three executive Directors and three independent non-executive Directors[161] - The Board has mechanisms in place to ensure independent views, including regular meetings with independent non-executive Directors[163] - The company has adopted a Securities Code for directors' transactions, ensuring compliance with the Model Code[177] - The company has established a Remuneration Committee, Audit Committee, Nomination Committee, and ESG Committee, each with specific written terms of reference[190]

Financial Performance - The Group's revenue increased by 11.1% or RMB 281.2 million to RMB 2,821.3 million for the Reporting Period (2023: RMB 2,540.1 million) driven mainly by increased sales volume of human albumin solution[13] - Gross profit decreased by RMB 23.4 million to RMB 299.9 million, with a gross profit margin decline from 12.7% in 2023 to 10.6% due to rising costs outpacing revenue growth[13] - Net profit for the Group was RMB 42.0 million, a slight decrease of RMB 0.4 million compared to RMB 42.4 million in 2023, representing a 0.9% decline[13] - Basic and diluted earnings per share remained at RMB 0.02 for the Reporting Period, unchanged from 2023[13] - Profit before tax for the Reporting Period was RMB 98.9 million, slightly down from RMB 99.9 million in 2023[14] - The net profit margin for the year was 1.5%, down from 1.7% in 2023[14] - Revenue from sales of human albumin solution increased by approximately RMB 276.5 million, primarily due to higher sales volume[13] - Revenue from human albumin solution reached RMB2,782.7 million, an increase of approximately 11.0% or RMB257.6 million compared to 2023[40] - Revenue from medical beauty services amounted to RMB28.7 million, representing a growth of approximately 10.8% or RMB2.8 million compared to 2023[40] - Cost of sales increased to RMB2,521.4 million, up RMB304.6 million or 13.7% from RMB2,216.8 million in 2023[41] - Gross profit decreased to RMB299.9 million, down RMB23.4 million from RMB323.3 million in 2023, resulting in a gross profit margin decline from 12.7% to 10.6%[42] Dividends and Shareholder Information - The Board proposed a final dividend of HK$0.20 cents per ordinary share, totaling HK$4,000,000, down from HK$8,000,000 in 2023[13] - The final dividend declared for the year ended December 31, 2024, is HK$0.20 per ordinary share, totaling HK$4,000,000, a decrease from HK$8,000,000 in 2023[187] - The annual general meeting is scheduled for May 15, 2025, where shareholders will vote on the proposed final dividend[188] - The final dividend will be paid on or around June 3, 2025, subject to shareholder approval at the AGM[196] - The record date for entitlement to the final dividend is May 23, 2025[200] Assets and Liabilities - The Group's total assets increased from RMB1,424,333 thousand in 2022 to RMB1,890,678 thousand in 2023, reflecting a growth of 32.7%[18] - The total equity attributable to owners rose from RMB603,812 thousand in 2022 to RMB628,052 thousand in 2023, an increase of 4.0%[18] - The Group's cash and cash equivalents were RMB657,948 thousand in 2023, projected to decrease to RMB411,377 thousand in 2024[18] - Trade receivables decreased slightly to RMB509.7 million, down RMB26.3 million or 4.9% from RMB536.0 million in 2023[58] - Trade payables and bills payable as of December 31, 2024, totaled RMB 888.0 million, reflecting an increase of RMB 21.4 million from RMB 866.6 million as of December 31, 2023, mainly due to increased payables for human albumin injections[70] - The Group's total borrowings as of December 31, 2024, amounted to RMB 340.9 million, up from RMB 241.7 million in 2023, with current bank loans increasing to RMB 340.9 million from RMB 240.9 million[73] - The gearing ratio at the end of the reporting period was 57.5%, up from 47.2% in 2023, indicating an increase in the proportion of debt relative to equity[75] Operational Highlights - The annual batch release volume of human albumin reached 83.2 million bottles in 2024, representing a year-on-year increase of 6.5%[23] - The market share of imported albumin increased to 68.3% in 2024, enhancing the Group's industry influence and market share in this segment[23] - The Group's cold chain storage facilities in Chengdu officially commenced operations in 2024, significantly enhancing storage and distribution capacity[30] - The first phase of the cold chain storage facilities in Chengdu has commenced full operation, occupying 15,000 square meters, with a Phase II expansion expected to add 18,000 square meters by 2025[107] - The introduction of a digital supply chain system has improved operational efficiency and reduced logistics costs[108] Research and Development - The Group plans to deepen its investment in research and development for new medical aesthetic products while advancing the commercialization of existing projects[29] - The Girl Needle project is expected to complete clinical trials in the fourth quarter of 2025, indicating ongoing innovation in medical aesthetic products[28] - The Group's R&D efforts include advancing the Girl Needle project, with clinical trials expected to complete in Q4 2025[109] Management and Governance - The company has a diverse leadership team with extensive experience in pharmaceuticals, finance, and human resources management[151][153][158][160][164] - The Company has a strong management team with diverse backgrounds in finance, pharmaceuticals, and technical consulting[173][177][171][178] - The management team is committed to driving innovation and product development in the pharmaceutical sector[173][178] - The Company aims to expand its market presence and improve operational efficiency through strategic management[173][178] Market Strategy - The Group aims to optimize its market layout and strengthen its marketing network, particularly in second- and third-tier cities[24] - The Group aims to enhance market coverage of human albumin by deepening cooperation with major medical institutions and optimizing supply chain management[114] - The Group is focused on commercializing core products like Girl Needle and expanding into international markets, particularly Southeast Asia[115] - The Group intends to accelerate the commercialization of key medical aesthetic products, particularly in high-end markets in major domestic cities, while expanding into Southeast Asia[118] Corporate Social Responsibility - The Group is committed to corporate social responsibility, supporting public welfare and contributing to the healthcare industry[117][119] - The Group has not incurred any material costs for compliance with environmental laws during the reporting period[135] Risk Management - The Group is focused on risk management, identifying potential risks such as supplier relationships and exchange rate fluctuations[127][128] - The Group's largest supplier accounted for 99.78% of total products purchased during the Reporting Period, indicating a high dependency on a single supplier[198]

Financial Performance - The consolidated loss for the year increased by approximately 25% compared to the same period in 2023, primarily due to the downturn in the property market in China [6]. - The company reported a loss from continuing operations of HKD 80,095,000 for the year ended December 31, 2024, compared to a loss of HKD 64,262,000 in 2023, representing a 24.5% increase in losses year-over-year [57]. - The company reported a significant focus on investment holding, with subsidiaries engaged in manufacturing and trading of prestressed high-strength concrete piles, ready-mixed concrete, autoclaved aerated concrete products, and ecological permeable concrete products [38]. - The company reported a total comprehensive loss of HKD 63,698,000 for the year ended December 31, 2024, compared to a loss of HKD 47,824,000 in the previous year, reflecting an increase in losses of approximately 33% [158]. - The company reported a net loss of HKD 80,095,000 for 2024, compared to a net loss of HKD 64,262,000 in 2023, indicating a deterioration in financial performance [152]. Revenue and Growth - Revenue from external customers in the construction materials business was HKD 256,385,000, representing a growth of about 4% from HKD 246,531,000 in the previous year [10]. - Revenue for the year ended December 31, 2024, was HKD 256,385,000, an increase of 3.4% from HKD 246,531,000 in 2023 [152]. - Gross profit for 2024 was HKD 43,832,000, up from HKD 37,556,000 in 2023, reflecting a gross margin improvement [152]. Assets and Liabilities - Total assets decreased to HKD 281,117,000 in 2024 from HKD 330,938,000 in 2023, reflecting a decline of approximately 15% [58]. - The company's total liabilities increased to HKD 202,375,000 in 2024, up from HKD 195,264,000 in 2023, indicating a rise of about 5.7% [58]. - The net asset value dropped to HKD 78,742,000 in 2024, down from HKD 135,674,000 in 2023, a decrease of approximately 42% [58]. - Current liabilities exceeded current assets by approximately HKD 33,863,000 as of December 31, 2024 [167]. Cash Flow and Financing - The group reported a net cash outflow from operating activities of about HKD 13,062,000 for the year ending December 31, 2024 [165]. - Cash and cash equivalents decreased by HKD 16,687,000 in 2024, compared to an increase of HKD 21,704,000 in 2023, indicating a shift in liquidity position [160]. - The company issued new shares raising HKD 3,592,000 and convertible notes raising HKD 30,000,000 during the year, enhancing its capital structure [160]. - The group plans to implement rigorous cost control measures to enhance operational efficiency and improve future cash flow [169]. Shareholder and Equity Information - As of December 31, 2024, the equity attributable to owners of the company was HKD 62,007,000, a decrease of approximately 33% compared to the previous year [13]. - The company’s total equity attributable to owners decreased to HKD 62,007,000 as of December 31, 2024, down from HKD 91,961,000 at the beginning of the year, indicating a decline in shareholder value [158]. - The board does not recommend a final dividend for the fiscal year [44]. Risk Management and Compliance - The company is exposed to foreign exchange risks due to its assets and liabilities being primarily denominated in Renminbi and Hong Kong dollars, with management actively monitoring these risks [23]. - The company has complied with relevant laws and regulations in its operations in China and Hong Kong, with no significant violations reported [61]. - The company has adopted a zero-tolerance policy towards bribery and corruption, ensuring all business dealings are conducted with integrity and professionalism [112]. Corporate Governance - The board consists of one executive director, one non-executive director, and three independent non-executive directors as of December 31, 2024 [92]. - The audit committee has reviewed the financial statements for the year ending December 31, 2024, confirming compliance with applicable accounting standards and regulations [80]. - All independent non-executive directors have confirmed their independence according to the listing rules, possessing appropriate professional qualifications or financial management expertise [94]. Internal Controls and Audit - The internal control and risk management systems are designed to manage risks rather than eliminate them, ensuring the reliability of financial reporting and compliance with laws [105]. - The audit committee has reviewed the effectiveness of the risk management and internal control systems, concluding they are sufficient and effective [109]. - The company plans to enhance its internal controls and audit procedures to address risks of material misstatement in financial reporting [149]. Future Outlook - The company anticipates that infrastructure investment will continue to be a pillar for economic recovery in China, benefiting its business operations [6]. - The company anticipates positive impacts on the construction materials industry in Guangdong Province, benefiting from local GDP growth and trade volume increases [27]. - The company aims for local GDP growth of around 5% and plans to focus on green energy, commercial aerospace, and other strategic areas [28].

Financial Performance - The company reported a revenue of approximately RMB 3,862.0 million for the year ended December 31, 2024, representing a 20.0% increase compared to RMB 3,217.7 million in 2023[12]. - Gross profit for the same period was approximately RMB 391.0 million, up 16.0% from RMB 337.0 million in 2023[12]. - The net profit attributable to the company's owners was approximately RMB 12.8 million, significantly increasing from RMB 2.7 million in 2023, resulting in a basic earnings per share of RMB 0.014[14]. - Total assets as of December 31, 2024, reached RMB 2,046.5 million, compared to RMB 1,742.4 million in 2023, marking a growth of 17.5%[7]. - Total liabilities increased to RMB 1,424.9 million in 2024 from RMB 1,160.9 million in 2023, reflecting a rise of 22.7%[7]. - The company recorded a profit of approximately RMB 12.9 million for the year ending December 31, 2024, compared to a profit of approximately RMB 2.7 million for the year ended December 31, 2023, reflecting the impact of the aforementioned fluctuations[59]. - Sales cost increased from approximately RMB 2,880.7 million to RMB 3,470.9 million, primarily due to rising raw material costs and increased production costs[48]. - Gross profit rose from approximately RMB 336.98 million to RMB 391.02 million, while overall gross margin decreased from 10.5% to 10.1%[49][50]. - Other income increased from approximately RMB 21.4 million to 28.0 million, mainly due to additional VAT credits and government subsidies[51]. - The company recorded a net loss of approximately RMB 7.1 million in other income and losses for the year ending December 31, 2024, compared to a net gain of RMB 2.7 million in 2023[53]. Business Expansion and Strategy - The company expanded its business scope by launching three new divisions, aiming to better meet market demands and industry trends[13]. - The company successfully entered new markets for cashew phenol products, significantly increasing sales and gross profit[14]. - The company has established a new upstream methylamine plant to support the production of choline chloride, enhancing its market share[14]. - The strategic procurement and expansion plans have led to a notable increase in gross profit and profitability, particularly in the methylamine and green products divisions[14]. - The company is actively exploring international markets and optimizing its global supply chain to improve operational efficiency[14]. - The company plans to establish three new divisions to extend its business scope, bringing the total to seven major business segments[23]. - The company is actively pursuing international market expansion through strategic investments and partnerships[29]. - The company is focusing on optimizing its product structure and enhancing operational efficiency to adapt to market dynamics[28]. Revenue Breakdown - The methylamine industry series accounted for approximately 35.2% of total revenue, with segment revenue reaching RMB 1,359.1 million, an increase of 28.2% year-on-year[15]. - Revenue from green products, primarily cashew phenol, grew by 53.7% to approximately RMB 200.4 million, driven by strategic adjustments in sales targeting higher-margin regions[15]. - Revenue from iodine derivatives and related products reached approximately RMB 991.9 million, a 39.6% increase, representing 25.7% of total revenue[15]. - Revenue from the methylamine industry segment grew by 28.2% to RMB 1,359.1 million, primarily due to the operation of a new upstream methylamine facility[31]. - The green products segment saw revenue rise by 53.7% to RMB 200.4 million, with gross profit increasing by 97.2% to RMB 33.5 million, aided by market expansion in Europe[31]. - Revenue from the iodine derivatives segment increased by 39.6% to RMB 991.9 million, with gross profit rising by 84.1% to RMB 73.1 million, influenced by supply constraints from Chile[31]. Capital and Financing - The net proceeds from a capital increase transaction amounted to approximately RMB 36.4 million, primarily allocated for debt repayment[20]. - A successful placement generated net proceeds of approximately RMB 22.2 million, intended for working capital to optimize liquidity[20]. - The company plans to acquire land in Tai'an, Shandong Province, for RMB 10 million to expand production capacity for downstream products, expecting an additional capacity of 120,000 tons[61]. - The company successfully completed a placement of 9,500,000 shares at a price of HKD 2.6 per share, raising approximately HKD 24,311,000 net of expenses, which will be used for general working capital[64]. - As of December 31, 2024, the entire net proceeds of HKD 24,311,000 have been utilized as planned for general operating funds[64]. - The company's capital expenditure for the year amounted to approximately RMB 121.8 million, a decrease from RMB 153.4 million in 2023[77]. - The company's capital commitments as of December 31, 2024, were approximately RMB 17.9 million, down from RMB 20.1 million in 2023[78]. Employee and Governance - The company has a total of 1,120 employees as of December 31, 2024, compared to 1,098 employees in 2023[83]. - The total employee cost (including director remuneration) was approximately RMB 141.5 million, an increase from RMB 135.8 million in 2023[83]. - The board has resolved not to recommend any final dividend for the year ending December 31, 2024, similar to 2023[81]. - The company has adopted key corporate governance practices as detailed in the annual report[161]. - The company emphasizes the importance of maintaining high standards of corporate governance and internal controls[168]. - The board is responsible for overseeing the company's business strategies and performance, retaining decision-making authority on significant matters[169]. - The company encourages diversity in the board's composition, considering various factors such as gender, age, and professional experience[188]. Risk Management - The company faces various risks including market risk, credit risk, and liquidity risk, which could impact its financial condition and operational performance[65]. - The company maintains a prudent treasury policy to ensure a healthy liquidity position throughout the year[75]. - The company aims to manage interest rate risk by monitoring its exposure and considering hedging when necessary[70]. - The group’s risk management policies address various risks, including market risk, credit risk, and liquidity risk, as outlined in the annual report[108]. Market and Economic Outlook - The anticipated structural adjustment in supply and demand dynamics in 2025 is expected to stabilize market conditions and stimulate end-market demand[18]. - The outlook for 2025 anticipates a stable supply-demand balance in the industry, with potential moderate recovery in downstream demand supported by macroeconomic policies[61]. - Revenue from Europe, Asia (excluding mainland China and Vietnam), and Vietnam increased significantly, indicating successful market recovery efforts[47].

Financial Performance - The company recorded revenue of approximately RMB 580.4 million for the fiscal year 2024, an increase of about RMB 67.6 million or approximately 13.2% compared to RMB 512.8 million in fiscal year 2023[9]. - Gross profit decreased from approximately RMB 104.2 million in fiscal year 2023 to approximately RMB 54.4 million in fiscal year 2024, a decline of about 47.8%[10]. - The net loss for fiscal year 2024 was approximately RMB 75.2 million, compared to a net profit of approximately RMB 10.1 million in fiscal year 2023[10]. - Revenue from ready-mixed concrete sales increased from approximately RMB 259.0 million in fiscal year 2023 to approximately RMB 302.9 million in fiscal year 2024, an increase of about 17.0%[17]. - Revenue from precast concrete components sales decreased significantly from approximately RMB 85.4 million in fiscal year 2023 to approximately RMB 14.1 million in fiscal year 2024, a drop of about 83.5%[18]. - Revenue from iron ore tailings recovery and eco-brick sales increased from approximately RMB 168.4 million in fiscal year 2023 to approximately RMB 263.4 million in fiscal year 2024, an increase of about 56.4%[19]. - Sales cost increased by approximately RMB 117.4 million or about 28.7% from RMB 408.6 million in FY2023 to RMB 526.0 million in FY2024, primarily due to increased revenue from iron ore tailings recovery and eco-bricks[20]. - Gross profit decreased by approximately RMB 49.8 million or about 47.8% from RMB 104.2 million in FY2023 to RMB 54.4 million in FY2024, with overall gross margin dropping from approximately 20.3% to 13.9%[21]. - The gross profit from precast concrete components recorded a loss of approximately RMB 24.8 million in FY2024, compared to a profit of RMB 3.9 million in FY2023[23]. - Other income increased by approximately RMB 6.0 million or about 121.4% from RMB 4.9 million in FY2023 to RMB 10.9 million in FY2024, mainly due to increased government subsidies[25]. - Net other losses increased by approximately RMB 8.0 million or 22,269.4% from RMB 36,000 in FY2023 to RMB 8.1 million in FY2024, primarily due to losses from the sale of properties, plants, and equipment[26]. - Administrative expenses increased by approximately RMB 28.4 million or about 52.4% from RMB 54.3 million in FY2023 to RMB 82.7 million in FY2024, mainly due to production losses in precast concrete components and increased employee costs[28]. Production and Operations - The company has temporarily halted the production of precast concrete components in fiscal year 2024 to mitigate further losses[10]. - The company is optimistic about the prospects of iron ore tailings comprehensive utilization, with over 100 million tons of tailings available for processing in Hainan Province[12]. - The competitive landscape for ready-mixed concrete and precast concrete components remains intense, particularly against state-owned enterprises, impacting profit margins[10]. - The company plans to expand its precast concrete component production capacity, with an allocation of HKD 24.5 million, of which HKD 18.0 million has been utilized[44]. - The company anticipates increased competition in the Xiamen precast concrete and precast concrete component market, which may pressure revenue and gross margins[45]. - The company has identified the comprehensive utilization of iron ore tailings in Hainan as a significant future revenue source due to abundant supply and high demand in nearby areas[45]. Shareholder Information - The largest customer accounts for approximately 9.6% of total revenue for the fiscal year 2024, while the top five customers account for about 31.3%[60]. - The company does not recommend any final dividend for the fiscal year 2024, and there is no established dividend policy[50][51]. - As of December 31, 2024, the company's current liabilities net amount was approximately RMB 72.5 million, compared to a net current asset value of approximately RMB 21.1 million as of December 31, 2023[33]. - The debt-to-equity ratio as of December 31, 2024, was approximately 48%, down from 49% as of December 31, 2023[33]. - The company had no significant acquisitions or investments in FY2024[39][40]. - The net proceeds from the share sale amount to approximately HKD 238.7 million, with HKD 231.4 million already utilized as of December 31, 2023[44]. - As of December 31, 2024, the company has distributable reserves of approximately RMB 184.1 million, down from RMB 189.1 million the previous year[57]. - As of December 31, 2024, the company has 748,000,000 shares issued[73]. - Mr. Ye Zhi Jie holds 274,706,100 shares, representing 36.73% of the company's issued share capital[71]. - Mr. Huang Wen Gui owns 121,568,700 shares, accounting for 16.25% of the company's issued share capital[71]. Corporate Governance - The board of directors emphasizes the importance of good corporate governance standards to protect shareholder interests and enhance corporate value[96]. - The company has adopted a code of conduct for directors regarding securities trading, ensuring compliance with established standards[99]. - The board of directors is responsible for strategic planning and ensuring sustainable development, with regular reviews of board composition and contributions[102]. - The company promotes a culture of integrity, accountability, and transparency among its directors and management[95]. - The company has established anti-corruption policies and reporting systems to maintain its corporate culture[95]. - The board believes that its corporate governance practices comply with the relevant codes and will continue to monitor and review these practices[98]. - The company has established a whistleblowing policy to encourage stakeholders to report any suspected fraud or misconduct[145]. - The board has delegated the responsibility for selecting and appointing directors to the nomination committee, which considers various diversity factors[147]. - The company has implemented a formal and transparent process for establishing remuneration policies for directors and senior management[123]. - The remuneration policy for directors and senior management is reviewed based on the company's performance and market data[80]. - The company has engaged an independent internal control consulting firm to review its major business processes and internal control systems for the fiscal year 2024[141]. - The board conducts an annual review of the effectiveness of the risk management and internal control systems[143]. - The company has established four committees: audit committee, remuneration committee, nomination committee, and strategic committee[113]. - The audit committee consists of three independent non-executive directors, with the chairperson possessing appropriate professional qualifications[115]. - The audit committee held two meetings in fiscal year 2024, with full attendance from its members[116]. - The company held one meeting of the Remuneration Committee in fiscal year 2024, with full attendance from all members[121]. - The Nomination Committee also held one meeting in fiscal year 2024, with all members present[126]. - The Strategic Committee is responsible for reviewing the company's expansion into emerging markets and the development of new products[129]. - The company confirmed that there are no significant uncertainties affecting its ability to continue as a going concern[131]. - The company secretary position was transitioned to Mr. Yuan Zhiwei effective August 8, 2024, following the resignation of Mr. Zhong Dezhu[134]. - The company ensures compliance with accounting standards and corporate governance codes as per the responsibilities outlined for the board of directors[131]. - All independent non-executive directors have confirmed their independence in accordance with listing rules[109]. - The board has a clear division of responsibilities between the chairman and the CEO to ensure a balance of power[108]. - The company has no plans for re-election of directors at the upcoming annual general meeting[70]. - In the fiscal year 2024, the company reported a total of 10 executives receiving compensation below RMB 1,000,000, a decrease of 18.18% from 11 in fiscal year 2023[85]. - There were no management or administrative contracts established for the majority of the company's business in fiscal year 2024[86]. - The details of remuneration for directors and the five highest-paid individuals are included in the financial statements[83]. - There are no indemnity provisions for any directors or associated companies during the fiscal year[81]. - There are no significant transactions or contracts involving directors with substantial interests during the fiscal year[78]. - The company has not established any arrangements that would result in directors holding interests in competing businesses during the fiscal year[79]. Environmental, Social, and Governance (ESG) Initiatives - The company is committed to environmental protection and sustainable development, implementing green office measures to reduce energy consumption[88]. - The board is responsible for identifying and assessing environmental, social, and governance (ESG) risks, and has formed a dedicated ESG working group to implement related measures[165]. - The ESG report covers the period from January 1, 2024, to December 31, 2024, aligning with the company's fiscal year[164]. - The ESG working group is tasked with collecting and monitoring ESG data, and reporting significant ESG matters to the board[168]. - The company emphasizes stakeholder engagement to understand and respond to their concerns regarding ESG issues[172]. - The company adheres to the "comply or explain" principle in its ESG reporting, ensuring transparency and accountability[170]. - The company has been recognized as a green factory by the Ministry of Industry and Information Technology of China[178]. - The company has established three environmental goals, promoting principles of "recycling," "reuse," "water conservation," and "energy saving" among employees[178]. - In the fiscal year 2024, the company complied with all applicable laws and regulations regarding emissions and waste management, with no significant claims or penalties related to environmental protection[179]. - The company has implemented an ISO 14001 certified environmental management system to reduce greenhouse gas emissions primarily from logistics activities[180]. - The company has established monitoring procedures to ensure water usage remains within reasonable limits, with no issues in obtaining applicable water sources in fiscal year 2024[184][185]. - The company produces minimal non-hazardous industrial waste during production, adhering to national standards for waste management[186]. - The company has installed automatic watering systems and dust-sealing designs in warehouses to minimize dust emissions during the loading process[187]. - The company encourages employees to cultivate water-saving habits and manages wastewater according to national discharge standards[184][185]. - The company has developed policies to minimize the use of natural resources and reduce the environmental impact of its operations[180]. - In fiscal year 2024, the company reported direct emissions (Scope 1) of 4,238 tons of CO2, a decrease of 49% from 8,317 tons in fiscal year 2023[189]. - Indirect emissions (Scope 2) increased to 16,118 tons of CO2 in fiscal year 2024, up 19% from 13,499 tons in fiscal year 2023[189]. - The company achieved a reduction in solid waste to 231 tons in fiscal year 2024, down from 398 tons in fiscal year 2023, representing a 42% decrease[192]. - Water consumption increased to 317 thousand cubic meters in fiscal year 2024, compared to 135 thousand cubic meters in fiscal year 2023, reflecting a 135% increase[192]. - The company aims to maintain current emission control and resource usage levels over the next two years, with plans to set and disclose new reduction targets thereafter[193]. - The company utilized 23,026 thousand kWh of electricity in fiscal year 2024, an increase of 19% from 19,284 thousand kWh in fiscal year 2023[192]. - The company plans to use vehicles that meet EU Stage VI standards for logistics activities to address future stricter emission standards[200]. - The company reported a significant reduction in sulfur dioxide (SOx) emissions to 1.05 tons in fiscal year 2024, down from 30.05 tons in fiscal year 2023, a decrease of 96.5%[189]. - The company is committed to managing suppliers and hiring environmentally friendly suppliers to meet customer expectations for green operations[200]. - The company has implemented a supply chain management plan to diversify its supply chain and monitor supplier financial and operational performance[200].

Financial Performance - For the fiscal year 2024, the company reported earnings per share (EPS) of HKD 1.91, a decrease of 56% compared to HKD 4.33 in 2023[22]. - Revenue for 2024 reached HKD 4,627,425,000, an increase of 2.96% compared to HKD 4,494,211,000 in 2023[26]. - Gross profit for 2024 was HKD 1,487,046,000, a decrease of 1.93% from HKD 1,515,118,000 in 2023[26]. - Profit before tax for 2024 was HKD 418,470,000, down 40.43% from HKD 702,004,000 in 2023[26]. - Net profit attributable to equity holders for 2024 was HKD 105,972,000, a decrease of 55.8% compared to HKD 239,548,000 in 2023[26]. - Total assets decreased to HKD 24,473,807,000 in 2024 from HKD 25,014,439,000 in 2023, a decline of 2.16%[26]. - Total liabilities decreased to HKD 6,400,040,000 in 2024 from HKD 6,762,389,000 in 2023, a reduction of 5.35%[26]. - Shareholders' profit for the year was HKD 106 million, a decrease of 56% year-on-year[62]. - The group's net profit attributable to shareholders was HKD 106 million, a decrease of 56% compared to the previous year[80]. Dividends and Payouts - The company declared a dividend of HKD 1.50 per share for 2024, down from HKD 2.50 in 2023, resulting in a dividend payout ratio of 78.37%[22]. - The company paid an interim dividend of 1.5 HKD cents per share on October 15, 2024, consistent with the previous year[149]. Financial Ratios - The interest coverage ratio decreased to 39.31 in 2024 from 56.17 in 2023, indicating a decline in the company's ability to meet interest obligations[22]. - The current ratio improved to 2.02 in 2024 from 1.78 in 2023, suggesting better short-term financial health[22]. - The total debt to equity ratio improved to 31.58% in 2024 from 33.00% in 2023, indicating a reduction in leverage[22]. - The average return on equity (ROE) decreased to 1.12% in 2024 from 1.91% in 2023, reflecting lower profitability relative to equity[22]. Business Operations and Strategy - The company operates several theme parks and cultural tourism destinations, with ownership stakes ranging from 46% to 100% in various subsidiaries[14][15][16]. - The company has a diversified portfolio in the hotel industry, owning 100% of several hotels and a significant stake in others, enhancing its market presence[19]. - The company is actively involved in the travel document services sector, fully owning its subsidiary in this area, which contributes to its overall business strategy[18]. - The company plans to continue expanding its market presence and exploring new strategies for growth in the tourism and hospitality sectors[13]. - The company plans to focus on market expansion and new product development in the upcoming fiscal year[27]. - The management indicated a strategic shift towards enhancing operational efficiency and cost management[27]. Market and Economic Outlook - The Chinese GDP for 2024 reached CNY 134.9 trillion, growing by 5.0% year-on-year, surpassing the global growth rate of approximately 3%[64]. - The company anticipates a steady recovery in the Hong Kong and mainland China economies by 2025, despite challenges from high market interest rates and geopolitical tensions[144]. - The company has maintained a cautious optimism regarding business prospects while remaining vigilant about global economic volatility[144]. Investments and Projects - The company plans to complete the design of the Ambara Resort project by 2025 and commence main construction, aiming for trial operations by the end of 2026[69]. - The company is committed to increasing its investment and asset proportions in Hong Kong, aiming to establish a leading tourism transportation investment platform in the Guangdong-Hong Kong-Macao Greater Bay Area[69]. - The company is actively exploring quality overseas investment opportunities while enhancing its strategic focus on Hainan[69]. - The company has established a joint venture with a registered capital of RMB 400 million to develop urban renewal and scenic area upgrades in Chongqing, with the company holding 55% equity[116]. - The company has initiated a project to establish a joint venture in Hainan to develop aerospace tourism, with a registered capital of RMB 10 million, aiming to create a significant tourism platform[117]. Management and Governance - 范志識先生 appointed as non-executive director in November 2022, bringing extensive experience in tourism and asset management[45]. - 謝祖墀先生 has nearly 30 years of experience in management consulting and corporate management, focusing on business strategy and overseas expansion[49]. - 陳志宏先生 served as chairman of life and general insurance for Zurich Insurance Group in the Asia-Pacific region, with a strong background in finance and accounting[54]. - 宋大偉先生 has held various senior positions in the Chinese government and state-owned enterprises, contributing to economic management and development[55]. - 公司董事会成员均具备丰富的行业经验和专业背景，涵盖旅游、保险、法律和经济管理等领域[48]. - 董事会成员的多样化背景有助于公司在市场扩张和新产品开发方面的战略决策[52]. Technology and Innovation - The company is actively exploring the application of new technologies such as AI and drones, launching the Xingtu AI creation platform and hosting five AIGC creation competitions[126]. - The company plans to strengthen AI capabilities in 2025 to provide personalized travel services and improve operational efficiency[126]. - The company launched a digital platform upgrade in 2024 to enhance booking processes and improve customer service experience, integrating with the parent company's platform[124]. Related Party Transactions - The company has ongoing related party transactions with China Travel Group, including travel permit management services and office leases, with specified annual caps for each[183]. - The actual amount for the management services agreement with China Travel Group for the year ending December 31, 2024, was RMB 0, while the annual cap is RMB 60.5 million[188]. - The independent non-executive directors confirmed that the ongoing connected transactions are conducted in the ordinary course of business and on fair and reasonable terms[191].

Financial Performance - Revenue increased by approximately HK$28.2 million or 7.6%, from approximately HK$370.2 million for the year ended 31 December 2023 to approximately HK$398.5 million for the year ended 31 December 2024[16] - The Group recorded a gross profit of approximately HK$71.4 million for the year ended 31 December 2024, compared to approximately HK$71.1 million in 2023[16] - Profit attributable to owners of the Company was approximately HK$31.5 million for the year ended 31 December 2024, up from approximately HK$25.2 million in 2023[16] - Basic earnings per share remained stable at approximately HK1.7 cents for the year ended 31 December 2024, consistent with 2023[16] - Profit for the year increased by approximately HK$6.3 million or 25.0%, from approximately HK$25.2 million for the year ended 31 December 2023 to approximately HK$31.5 million for the year ended 31 December 2024[49] - Net profit margin increased from approximately 6.8% for the year ended 31 December 2023 to approximately 7.9% for the year ended 31 December 2024[49] Revenue and Project Management - The Group's emphasis on large-scale infrastructure projects ensured a consistent revenue stream, resilient to economic fluctuations[19] - The Group's revenue increased by approximately HK$28.2 million or 7.6%, from approximately HK$370.2 million for the year ended 31 December 2023 to approximately HK$398.5 million for the year ended 31 December 2024, mainly due to higher works performed on sizeable projects[25] - As of 31 December 2024, the Group had 22 projects on hand with a backlog value of approximately HK$322.1 million, down from approximately HK$550.5 million as of 31 December 2023[26] - The Group is focusing on the collectability of trade receivables and the number of contracts in tendering to ensure steady revenue and cash flow streams[27] Cost and Expenses - The cost of services increased by approximately HK$27.9 million or 9.3%, from approximately HK$299.1 million for the year ended 31 December 2023 to approximately HK$327.1 million for the year ended 31 December 2024[35] - Gross profit remained stable at approximately HK$71.4 million for the year ended 31 December 2024, with a slight decrease in gross profit margin from approximately 19.2% to 17.9% due to lower margins on new projects[36] - Administrative expenses increased by approximately HK$7.4 million or 38.7%, from approximately HK$19.1 million for the year ended 31 December 2023 to approximately HK$26.5 million for the year ended 31 December 2024[43] Investments and Financial Management - The Group continued to invest in factory and machinery to enhance productivity and efficiency despite economic challenges[19] - The Group maintained a net current assets balance of approximately HK$218.9 million as of 31 December 2024, up from approximately HK$117.7 million in 2023[50] - Cash and cash equivalents increased to approximately HK$100.0 million as of 31 December 2024, compared to approximately HK$8.7 million in 2023[50] - Bank borrowings decreased to approximately HK$5.9 million as of 31 December 2024, down from approximately HK$9.9 million in 2023[52] - Gearing ratio decreased from approximately 9.5% as of 31 December 2023 to approximately 5.0% as of 31 December 2024[53] - Capital expenditures for the year ended 31 December 2024 were approximately HK$17.0 million, significantly up from approximately HK$1.4 million in 2023[59] Dividends - The Board resolved not to recommend the payment of a final dividend for the year ended 31 December 2024[16] - The Group declared an interim dividend of approximately HK$26.6 million in January 2024, with HK$10.0 million settled in cash and HK$16.6 million offset against amounts due from Directors and related companies[91] - No final dividend was recommended for the year ended December 31, 2024, following a previous declaration of HK$20 million in dividends for the year ended December 31, 2023[92] Corporate Governance and Leadership - The Group has a strong leadership team with extensive experience in their respective fields, enhancing its operational capabilities[113] - The Group's board includes controlling shareholders, ensuring alignment in strategic decision-making[111] - The Company has complied with the Corporate Governance Code and recommended best practices since the Listing Date[141] - The Board consists of eight Directors, including three executive Directors and three independent non-executive Directors[150] - The Company has established Board committees to delegate various duties and responsibilities[149] Workforce and Diversity - As of December 31, 2024, the Group employed 137 individuals, a decrease from 148 in 2023, with remuneration packages including salary and bonuses[77] - The Group has 137 employees as of December 31, 2024, with 15 females, representing approximately 10.9%[180] - The Group's target is to maintain the proportion of female employees at no less than 10% over the next three years[180] Risk Management - The Group did not experience any material difficulties or impacts on its operations or liquidity due to currency exchange fluctuations during the year ended December 31, 2024[72] - The Group did not use any financial instruments for hedging purposes during the year ended December 31, 2024, and will monitor exchange rate risks closely[73] Strategic Outlook - The Group remains cautiously optimistic about the structural steelwork industry in Hong Kong despite current economic challenges[30] - The Group aims to expand its market share by competing for structural steelwork projects[143] - The Group plans to increase its production capacity of structural steel[143] - The Group is committed to prudent financial management to ensure optimal finance costs and capital sufficiency[143] - The workforce is expected to be expanded as part of the Group's growth strategy[143]

Customer Base and Operations - The company serves approximately 20.1 million residential and commercial customers globally, providing clean, reliable, and affordable energy[6]. - The total length of the power supply network is 390,000 kilometers, while the gas and oil pipeline network spans 119,100 kilometers[15]. - UK Power Networks (UKPN) serves 8.5 million residential and commercial customers, covering over 29,000 square kilometers and accounting for about 28% of the UK's total distribution capacity[58]. - The company continues to see stable growth in its UK operations, serving up to 14 million residential and commercial customers[56]. Financial Performance - Shareholders' profit for 2024 reached HKD 6,119 million, representing an increase from HKD 6,003 million in 2023, marking a growth of approximately 1.93%[15]. - Earnings per share for 2024 was HKD 2.87, up from HKD 2.82 in 2023, reflecting a growth of 1.77%[15]. - The total equity amounted to HKD 87,076 million, a slight decrease from HKD 88,752 million in the previous year[15]. - The company reported a net profit of HKD 6.19 billion for the year ending December 31, 2024, representing a 2% increase from HKD 6.03 billion in 2023[27]. - The board proposed a final dividend of HKD 2.04 per share, maintaining the total annual dividend at HKD 2.82 per share, consistent with the previous year[28]. Investments and Acquisitions - The company is actively investing in innovative technologies to accelerate the transition to green energy, aligning with global carbon neutrality goals[7]. - The company is focused on strategic acquisitions and new development projects to ensure sustainable long-term growth[7]. - The company completed multiple acquisitions, including Phoenix Energy and UK Renewables Energy, enhancing its business portfolio and providing immediate cash flow and stable income[29]. - The company is actively expanding non-regulated projects to create additional cash flow and returns[32]. - The company is focusing on acquiring quality assets in mature energy markets, particularly those that meet sustainability objectives[38]. Renewable Energy and Sustainability - The company aims to achieve net-zero carbon emissions by 2050 as part of its climate action plan[50]. - The company is actively investing in clean hydrogen and biomethane projects in the UK and Australia, enhancing operational flexibility to accommodate renewable energy supply[37]. - The company plans to continue exploring new investment opportunities in the green sector, aligning with global decarbonization goals[37]. - The company is expanding its renewable energy portfolio, including the acquisition of a 20% stake in 32 onshore wind farms in the UK[53]. - The renewable energy generated from the wind farms avoided approximately 88,000 tons of carbon emissions[140]. Operational Efficiency and Reliability - The company maintains a power supply reliability rate exceeding 99.9999% in 2024, reflecting world-class standards[36]. - UKPN's electricity supply reliability reached 99.99% in the 2023/24 fiscal year, with London’s network being the most reliable in the UK[66]. - The company is modernizing its power grid and digitalizing operations to meet the increasing demand for electric vehicle charging and distributed renewable energy[42]. Governance and Management - The company has adhered to the corporate governance code as per the Hong Kong Stock Exchange's listing rules throughout the fiscal year ending December 31, 2024[176]. - The board consists of 12 directors, including 4 executive directors, 3 non-executive directors, and 5 independent non-executive directors[181]. - The company emphasizes a commitment to sustainable development and has outlined its policies on its website[177]. - The board's performance evaluation was conducted annually, with results reviewed in March 2025 for the fiscal year 2024[187]. - The company provides ongoing professional development training for directors to keep them updated on regulatory changes and their responsibilities[199]. Diversity and Inclusion - The board currently has one female independent non-executive director, and there are no specific targets or timelines set for further increasing gender diversity in board appointments[191]. - As of December 31, 2024, the gender distribution among employees is 67% male and 33% female, with a commitment to improving the representation of women at all levels[192]. - The company is committed to creating a diverse and inclusive work environment, although it currently does not set specific gender diversity targets for all employees[192].