Financial Performance - The company reported a revenue of HKD 7,812,000,000, representing a year-on-year increase of 17%[8] - The consolidated gross profit increased by HKD 130,000,000, or 24%, with an overall gross margin rising from 8.3% to 8.7%[8] - Total operating expenses rose from HKD 461,000,000 to HKD 531,000,000, a year-on-year increase of 15%[9] - The consolidated profit before tax was HKD 86,000,000, an increase of HKD 19,000,000 or 28% year-on-year[10] - The total value of contracts received for building construction, renovation, and maintenance increased to HKD 30,550 million as of March 31, 2024, from HKD 14,270 million in 2023[32] - The group’s cash and bank balance as of March 31, 2024, was HKD 906 million, an increase from HKD 743 million in 2023, while total borrowings rose to HKD 2,292 million from HKD 1,367 million[29] - The group has a current ratio of 1.1 as of March 31, 2024, down from 1.2 in 2023, indicating a slight decrease in liquidity[29] Contract and Project Backlog - The company achieved a record backlog of contracts amounting to HKD 40,788,000,000, an increase of 81% year-on-year[10] - New contracts obtained totaled HKD 20,281,000,000, reflecting a year-on-year increase of 211%[10] - The company is currently constructing over 25,000 housing units, involving more than 60,000 MiC/precast units[13] - The company secured multiple contracts for public housing development projects, including the construction of public housing in areas such as Kwu Tung North and Tuen Mun, contributing to its revenue growth[34] Growth in Segments - The construction segment and building materials supply segment achieved strong growth of 32% and 115% respectively[8] - The building construction segment generated over HKD 5,000,000,000 in revenue, a year-on-year growth of 27%[12] - The electromechanical installation division reported revenue of HKD 2,931,000,000, an increase of HKD 315,000,000 or 12% year-on-year, with new orders totaling HKD 4,075,000,000[18] - The construction materials supply segment achieved a revenue of HKD 801,000,000, more than doubling from the previous year, with new orders reaching a record HKD 3,054,000,000[20] Technological Advancements - BEANiE platform has been applied to all major construction projects, evolving from BEANiE 1.0 to BEANiE 6.0, enhancing productivity and quality in MiC management[16][17] - The introduction of AI-driven iFCUTM has led to over 50% energy savings, reflecting the company's commitment to sustainable development[19] - The company is actively pursuing IoT applications for smart construction sites, enhancing safety and operational efficiency[19] - The company is advancing its strategy in green building technologies and automation, with a focus on prefabricated construction methods and AI applications in building systems[42] Sustainability and Environmental Initiatives - The company is committed to reducing its environmental footprint and enhancing climate resilience as part of its sustainability goals[160] - The company has established a governance structure for environmental, social, and governance (ESG) matters, with the board overseeing the strategy and reporting[161] - The group has set a target to reduce greenhouse gas emissions intensity by 6% and 30% by 2025 and 2035, respectively, with 2017/18 as the baseline year, and is ahead of schedule[192] - The company has implemented measures to accelerate carbon reduction, including the use of renewable energy and low-carbon concrete[197] - The company has received multiple awards for its innovative green building practices, showcasing its commitment to sustainable construction[158] Workforce and Management - The group employed approximately 3,900 staff as of March 31, 2024, up from 3,600 in 2023, indicating a growth in workforce[31] - The leadership team has over 20 years of entrepreneurial management experience, focusing on project lifecycle management and virtual design[46] - The company emphasizes technological innovation and research, integrating sustainable ecosystems across different fields[46] - The board of directors consists of four executive directors and four independent non-executive directors, ensuring a balance of knowledge and experience[95] Corporate Governance - The company has established a risk management framework based on the "three lines of defense" model to manage operational, compliance, financial, and strategic risks[127] - The risk management committee evaluates and manages key risks, ensuring that all risk bearers are aware of their responsibilities[125] - The company has not separated the roles of Chairman and CEO, which allows for swift decision-making[139] - The board believes it benefits significantly from the long-term commitment of its major shareholders[105] Awards and Recognition - The company received the Outstanding Contribution Award for Sustainable Urban Construction at the "Hong Kong Green and Sustainable Contribution Awards 2023"[156] - The company won the Excellence Award for Green Building Innovative Technology at the "Hong Kong Sustainable Development Innovation Technology Awards 2023"[156] - The company has been awarded the Hong Kong Green Enterprise Award 2023, including the Silver Award for Superior Environmental Management[158] Community Engagement and Social Responsibility - Charitable donations made by the company during the year amounted to approximately HKD 491,000, a decrease from HKD 931,000 in the previous year[73] - The company sponsored the "Mama Group 2023 Annual Progress Award" from the Industrial Accident Rights Association, benefiting 100 families[156] - The company is focused on enhancing employee welfare, training, and occupational health and safety measures as part of its sustainable development strategy[160]
有利集团(00406) - 2024 - 年度财报