新创建集团(00659) - 2023 - 年度财报

Financial Performance - Revenue for 2023 reached HKD 45,213.8 million, a significant increase from HKD 31,138.6 million in 2022, representing a growth of approximately 45%[9] - Profit attributable to shareholders for 2023 was HKD 2,026.7 million, up from HKD 1,586.8 million in 2022, marking an increase of about 27.7%[9] - The group's attributable operating profit decreased by 6% year-on-year to HKD 4,097.2 million, compared to HKD 4,370.9 million in 2022[20] - Adjusted EBITDA for 2023 was HKD 6,565.9 million, slightly down from HKD 6,792.5 million in 2022[9] - The company maintained a dividend per share of HKD 0.61 for both 2023 and 2022, with a payout ratio of 118% in 2023 compared to 150% in 2022[9] Debt and Liquidity - The net debt ratio improved to 9% in 2023 from 19% in 2022, indicating a stronger financial position[10] - Cash and bank balances increased to HKD 19,255.9 million in 2023, up from HKD 13,452.6 million in 2022, reflecting improved liquidity[10] - The company's net debt decreased to approximately HKD 4.5 billion as of June 30, 2023, down from HKD 5.7 billion at the end of 2022[23] - The company's capital structure as of June 30, 2023, consists of 32% debt and 68% equity, compared to 30% debt and 70% equity as of June 30, 2022[53] Business Segments Performance - The logistics business contributed positively to operating profit growth due to new acquisitions, despite challenges in other sectors[20] - The logistics business saw a 25% year-on-year growth in operating profit, driven by new contributions from logistics properties in mainland China[21] - The insurance segment's operating profit increased by 12% to HKD 1.2045 billion, compared to HKD 1.0749 billion in the previous year[26] - The facility management business turned around to report an operating profit, improving by 85% from a loss of HKD 409.5 million in the previous year[26] - The construction business's operating profit decreased by 18% year-on-year to HKD 745.5 million, with new contract awards dropping by 78% to HKD 5.2 billion due to increased competition[29] Strategic Investments and Acquisitions - The company completed the acquisition of a 40% stake in the Guiwu Expressway and the remaining 60% stake in the Suiyue Expressway during the fiscal year 2023[22] - The company acquired a 40% stake in Guigou Expressway for RMB 1.9024 billion and a 60% stake in Suiyue Expressway for RMB 523.1 million, enhancing its road portfolio[28] - The group increased its stake in the Shenzhen Huizhou Expressway by approximately 5.2% to 38.5% as of September 2023[45] Market Outlook and Growth - The group remains optimistic about the long-term prospects of the mainland economy, supported by government incentives for car purchases and logistics growth[45] - The company is focused on expanding its infrastructure and construction projects, leveraging over 30 years of industry experience[80] - The company is actively involved in the development of new technologies and products to enhance its market position[82] - The company is expanding its market presence in Southeast Asia, targeting a 25% market share by 2025[65] Corporate Governance and Management - The company has maintained high levels of corporate governance, complying with all applicable code provisions except for code provision F.2.2 in the 2023 fiscal year[83] - The board of directors has demonstrated effective operation and accountability, with a focus on risk management and internal controls[84] - The company has a strong commitment to investor relations and communication with shareholders, ensuring transparency and engagement[84] - The board's composition reflects a mix of experience and fresh perspectives, with a focus on gender diversity and professional expertise[100] Risk Management and Internal Controls - The company has established a robust enterprise risk management framework based on COSO and ISO standards to align with its business nature and growth objectives[170] - The audit committee supervises the risk management and internal control systems, reviewing their adequacy and effectiveness[179] - The company has integrated ESG and climate-related risks into its enterprise risk management framework to achieve its 2030 sustainability goals[193] - The internal audit team provides independent verification of the adequacy and effectiveness of the risk management and internal control systems[182] Sustainability Initiatives - The group is committed to sustainable development and has set ambitious climate goals to address the impacts of climate change[8] - The company has initiated its first net-zero carbon emissions strategy and blueprint to support local and national carbon neutrality goals[94] - The company promotes a culture of risk awareness across all levels of the organization[181] Shareholder Engagement - The company has adopted a shareholder communication policy to ensure effective and transparent communication with shareholders[151] - The company encourages shareholders to participate in meetings and has implemented electronic voting to facilitate this[152] - The company held over 95 investor meetings, including one-on-one and conference calls, with more than 350 institutional investors and analysts during the fiscal year 2023[164]