Environmental Impact - The total greenhouse gas emissions for the year 2024 amounted to 5,804 tons, an increase from 3,295 tons in 2023, representing a 76% rise[29]. - The density of greenhouse gas emissions was recorded at 8 tons per million HKD in revenue, up from 6 tons per million HKD in 2023, indicating a 33% increase[29]. - The company reported a total of 5,798 tons of fuel combustion emissions for 2024, significantly higher than the 3,289 tons reported in 2023, marking a 76% increase[29]. - The company has implemented strict measures to avoid and control pollution and greenhouse gas emissions, including using more energy-efficient fuels for machinery[40]. - The company is committed to identifying climate risks and developing effective strategies to mitigate and adapt to climate change impacts on its business[46]. - The company has set a greenhouse gas emission reduction target of 2-3% over the next five years, with a short-term goal to maintain lower emission density in the coming year[30]. Waste Management - The company disposed of 461 kilograms of general office waste, a decrease from 564 kilograms in 2023, reflecting an 18% reduction[21]. - The company has established centralized collection points for recycling used office paper, ensuring it is processed and reintroduced into the production cycle[33]. - The company has implemented a "4R" principle (Reduce, Reuse, Recycle, Replace) for resource management, focusing on effective utilization of paper, electricity, and water[43]. Employee Statistics - The total number of employees is 500, with 96% being male and 4% female, showing a slight decrease in female representation from 5% in 2023[49]. - The turnover rate for full-time employees is approximately 23%, an increase from 17% in 2023, indicating a need for improved employee retention strategies[51]. - The company has a total of 431 temporary workers, making up 86% of its workforce, indicating a reliance on temporary labor[49]. - The company has arranged safety training for workers, emphasizing the correct use of personal protective equipment to enhance safety awareness on construction sites[62]. - The company has not reported any work-related fatalities in the past three years, maintaining a focus on employee safety[69]. - The company encourages employee participation in training programs to enhance professional skills and ensure equal training opportunities for all staff[55]. Financial Performance - The group's revenue increased by approximately 42.6% from about HKD 511.0 million for the year ended March 31, 2023, to approximately HKD 728.5 million for the year ended March 31, 2024[79]. - The profit attributable to the company's owners was approximately HKD 22.2 million for the year ended March 31, 2024, compared to a loss of approximately HKD 22.0 million for the year ended March 31, 2023[79]. - The net profit for the year was approximately HKD 22.2 million, a turnaround from a net loss of about HKD 22.0 million in the previous year[116]. - The gross profit increased by approximately HKD 54.1 million to about HKD 57.8 million, with a gross profit margin rising by about 7.2%[115]. - Administrative expenses decreased by approximately 7.1% to about HKD 22.2 million from HKD 23.9 million in the previous year, attributed to effective cost control measures[108]. Construction Projects - Revenue from construction projects was approximately HKD 408.4 million, accounting for about 56.1% of total revenue, compared to HKD 200.6 million and 39.3% in the previous year[92]. - The group secured four new projects and received ten contracts from existing projects during the year[92]. - The total uncompleted contract amount as of March 31, 2024, was HKD 143.0 million across sixteen projects[92]. - The ongoing development of the three-runway system and other major infrastructure projects is expected to sustain strong demand in the construction market for the coming years[86]. - The group anticipates the completion of fourteen projects by March 31, 2025, with one project expected to complete by March 31, 2026, and another by March 31, 2027[92]. Corporate Governance - The company has implemented several environmental, social, and governance initiatives integrated into its corporate strategy and operations[25]. - The company has established a governance framework to ensure accountability for environmental, social, and governance initiatives[25]. - The company has engaged an external independent consultant to review the effectiveness of its risk management and internal control systems[15]. - The company has implemented a zero-tolerance policy towards bribery and corruption, with a focus on maintaining high levels of business integrity and transparency[72]. - The company has conducted regular systematic assessments to mitigate fraud risks, ensuring all employees receive training related to bribery and corruption[72]. Shareholder Information - The company has established multiple communication channels to maintain transparency and effective communication with shareholders[66]. - The retained earnings available for distribution to shareholders as of March 31, 2024, amount to approximately HKD 49,481,000[162]. - The company has not proposed any final dividends for the year, reflecting a conservative approach to shareholder returns[146]. - Public shareholders hold at least 25% of the company's total issued share capital as of the report date[195]. Market Outlook - The group remains cautiously optimistic about the future of the Hong Kong construction industry, driven by long-term land and housing development[143]. - The strategic position of Hong Kong in the Greater Bay Area enhances its role as a trade, finance, and logistics hub, providing opportunities for infrastructure development[126]. - The Hong Kong government is committed to increasing public housing supply, with plans to build approximately 410,000 public housing units over the next decade[86].
进升集团控股(01581) - 2024 - 年度财报