Financial Performance - The company's total revenue for the fiscal year ending March 31, 2024, was HKD 7,811,653,000, an increase of 16.8% from HKD 6,685,961,000 in the previous year[11]. - The net profit for the year was HKD 65,801,000, compared to HKD 47,972,000 in the previous year, reflecting a growth of 37.2%[3]. - Basic and diluted earnings per share were HKD 15.32 and HKD 11.33 respectively, indicating a significant increase in profitability[2]. - The company reported a total comprehensive income of HKD 19,465,000, recovering from a loss of HKD 15,172,000 in the previous year[3]. - The consolidated profit before tax for the year was HKD 86,000,000, an increase of HKD 19,000,000 or 28% year-on-year[48]. - Gross profit for the year was HKD 682,482,000, up from HKD 552,313,000, indicating a year-over-year increase of about 23.5%[120]. - Net profit rose to HKD 65,801,000 from HKD 47,972,000, reflecting an increase of approximately 37.2%[120]. - The company reported a profit before tax of HKD 86,312,000, with tax expenses of HKD 20,511,000 for the year[133]. Revenue Segments - The construction segment generated revenue of HKD 5,604,081,000, up from HKD 4,413,759,000, representing a growth of 27.0%[11]. - The revenue from the main division increased to approximately HKD 5,000,000,000, representing a year-on-year growth of 27%[52]. - The mechanical and electrical installation segment generated revenue of HKD 2,931,000,000, a 12% increase from the previous year, with new orders totaling HKD 4,075,000,000[182]. - Revenue from construction materials supply was HKD 86,295,000 in 2024, down from HKD 87,715,000 in 2023[131]. Assets and Liabilities - The total assets increased to HKD 5,726,115,000 from HKD 4,850,659,000, marking a growth of 18.0%[5]. - The company’s non-current assets in Hong Kong increased to HKD 1,021,331,000 from HKD 819,600,000, indicating a growth of 24.6%[15]. - Total liabilities increased to HKD 4,224,549,000 in 2024 from HKD 3,346,656,000 in 2023[151]. - The company has a total bank financing facility of HKD 3,825,000,000 as of March 31, 2024, compared to HKD 3,706,000,000 in the previous year, with HKD 2,887,000,000 utilized[96]. Dividends and Shareholder Returns - The company plans to maintain a final dividend of HKD 2.50 per share, consistent with the previous year, totaling HKD 10,951,000[21]. - The company plans to pay a final dividend of HKD 0.025 per share, maintaining the same level as the previous year[49]. - As of March 31, 2024, the net asset value attributable to equity holders was HKD 1,505,164,000, slightly down from HKD 1,506,309,000 in the previous year[120]. Operational Highlights - The company secured four public housing projects totaling HKD 17,000,000,000, a year-on-year increase of 336%[52]. - The total value of contracts on hand at year-end was approximately HKD 4,391,000,000, equivalent to over 44,000 MiC units[57]. - The company achieved new orders worth HKD 3,054,000,000, setting a record for the year[57]. - The company is currently constructing over 25,000 housing units, including the first high-rise MiC development project in Hong Kong, which has a record construction cycle of only four days[179]. Cost Management - The company’s financial costs increased to HKD 56,109,000 from HKD 24,961,000, reflecting a rise in interest expenses[19]. - The company reported a significant increase in construction costs to HKD 5,379,103,000 from HKD 4,880,804,000, an increase of 10.2%[17]. - Operating expenses increased from HKD 461,000,000 to HKD 531,000,000, reflecting a year-on-year increase of 15% due to rising employee costs and transportation expenses[145]. Innovation and Technology - The company is actively seeking environmentally friendly products and solutions, with its patented iFCUTM product achieving over 50% energy savings on average due to the latest AI-driven version[88]. - The company has developed the BEANiE platform, which enhances the lifecycle management of MiC through RFID, BIM, and blockchain technologies[86]. - The company is implementing digital twin solutions, IoT, big data, and AI applications to enhance planning in construction resources and maintenance, supporting the development of smart hotels[92]. - The group is committed to innovation and digitalization, focusing on technologies such as robotics, IoT, and digital twins to enhance project delivery and drive sustainable growth[188]. Workforce and Labor - The number of employees increased by 9% year-on-year to address expanding business needs, contributing to higher labor costs[145]. - The group employed approximately 3,900 employees as of March 31, 2024, up from 3,600 in 2023, with a focus on becoming an attractive employer through competitive compensation and training investments[191]. - The company anticipates a labor shortage in the construction industry, with a projected shortfall of 40,000 workers by 2027, impacting future operational costs[145]. Risk Management - The company has established a risk management system and internal control measures, which are reviewed biannually to mitigate risks associated with business objectives[68]. - The group has established a risk management committee to assess and manage key risks, supporting the board in governance and oversight responsibilities[194]. - The group has confirmed the effectiveness and adequacy of its risk management and internal control systems following an annual review[195]. Market Outlook - The company anticipates gradual improvement in sales momentum due to government stimulus measures and ongoing urbanization trends[187]. - The construction market in Hong Kong is projected to have an annual volume of approximately HKD 300 billion, driven by both public and private sectors[188].
有利集团(00406) - 2024 - 年度业绩