Awards and Recognition - Synergis Holdings Limited won a gold award and two merit awards at the Best Property Safety Management Award[11] - The company received 185 property and security services awards from various regions, with New Territories North achieving 68 awards[18] - Synergis won 13 awards, including "The Excellent Contractor Award" for Property Management Support Services at the LINK Award Presentation Ceremony[37] - The company received the JobMarket Employer of Choice Award and the 15 years Plus Caring Company Logo from the Hong Kong Council of Social Services[11] Contracts and Projects - Synergis was awarded the operations management services contract for the Guangzhou-Shenzhen-Hong Kong Express Rail Link (Hong Kong Section) West Kowloon Station car park[33] - The company secured the management services contract for the M+ Museum Project[35] - Synergis was awarded the property management services contract for Braemar Hill Mansions in North Point[38] - The company was awarded the renovation works contract for the washrooms of Watson Centre[19] - The company provided facility management services to Malvern College Hong Kong[17] - A three-year car park management contract was awarded by MTR Corporation Limited with an estimated contract sum of approximately HK$40 million for West Kowloon Station Car Park[99] - The company successfully extended its portfolio to include management services for international schools and luxury retail brands, including contracts for Malvern College Hong Kong and Zung Fu House for Mercedes-Benz[98] - A total of 39 new contracts were obtained, with a total contract sum exceeding HK$263 million, including significant contracts for property and facility management services[102][106] Financial Performance - The Group recorded a total revenue decrease of approximately 26.4% to approximately HK$1,533.0 million for the year ended 31 December 2018[42] - The Group reported consolidated revenue of approximately HK$1,533.0 million for the year ended December 31, 2018, a decrease of approximately 26.4% compared to HK$2,083.3 million in 2017[69] - Gross profit margin increased to 9.8% compared to 8.0% last year, despite a 10.0% reduction in gross profit from approximately HK$166.8 million to approximately HK$150.1 million[42] - Gross profit decreased by 10% to approximately HK$150.1 million, despite an improvement in gross profit margin to 9.8%, which is 1.8% higher than the previous year[69] - The Group recorded a loss attributable to shareholders of approximately HK$160.0 million, compared to a loss of approximately HK$54.4 million in the previous year, resulting in a loss per share of 37.7 HK cents[69] - A full impairment loss on goodwill of approximately HK$116.8 million was recorded, leading to a loss attributable to shareholders increasing from approximately HK$54.4 million to approximately HK$160.0 million[46] Operational Efficiency and Cost Control - General and administrative expenses decreased by 16.8% to approximately HK$123.5 million due to cost control measures[42] - The Group's management implemented cost control measures that successfully reduced operating expenses despite rising costs and competition in the market[69] - Operating expenses were reduced by 16.8% to approximately HK$123.5 million, contributing to a 30.9% increase in operating profit before exceptional items to approximately HK$26.7 million[69] - Operating expenses were reduced by 28.6% from approximately HK$22 million in the first half to approximately HK$15.7 million in the second half of the year[110][112] Business Segments Performance - The revenue of the Property and Facility Management (PFM) Business in Hong Kong was approximately HK$665.4 million, slightly above last year's HK$630.4 million[83] - The gross profit of the PFM Business in Hong Kong was approximately HK$85.8 million, similar to last year's HK$86.5 million[83] - Revenue and gross profit for the PFM Business in China decreased significantly to approximately HK$28.1 million and HK$10.1 million, down from HK$67.2 million and HK$15.5 million respectively[83] - The revenue of the Interior Decoration and Special Projects (ISP) Business decreased by 39.4% to approximately HK$839.5 million, down from HK$1,385.7 million, with gross profit decreasing by 16.4% to approximately HK$54.2 million[84] - The ISP Business recorded total revenue of approximately HK$839.5 million, a decrease of 39.4% compared to the previous year, while gross profit decreased by 16.4% to approximately HK$54.2 million[131] Management and Governance - The Group's commitment to sustainability and quality service improvement is a core focus of its business strategy[54] - The leadership team includes experienced professionals with extensive backgrounds in property management and corporate finance, contributing to the Group's growth strategy[199] - The Group has a focus on enhancing operational efficiency through strategic planning and implementation led by key personnel[194] - Management plans to focus on core businesses in the ISP sector, aiming to enhance service quality and client satisfaction in the coming years[138] Human Resources and Staffing - The company employed a total of 5,294 staff as of December 31, 2018, down from 5,695 in the previous year[150] - The company aims to enhance its human resources system and promote digitalization to improve operational efficiency[150] Financial Position and Risk Management - The company recorded a full impairment of goodwill, resulting in net assets dropping to approximately HK$89.5 million, and the gearing ratio increased from 34.5% to 58.1% compared to the previous year[142] - The total debt to net tangible assets ratio increased from 121.2% to 185.4% year-on-year[143] - The company maintains a conservative approach to financial risk management, with low interest rate risk due to short-term fixed rates on bank borrowings[144] - As of December 31, 2018, total outstanding bank loans were HK$166.0 million, similar to the previous year, scheduled for repayment over the next two years[138] Key Personnel - Mr. Lau has over 18 years of experience in finance and accounting, serving as an independent non-executive director since September 28, 2017[167] - Mr. Lee has over 20 years of experience in the corporate finance industry and has been an independent non-executive director since September 28, 2017[178] - Dr. Wong Yun Kuen has been appointed as an Independent Non-executive Director since December 1, 2017, and serves as the chairman of the Remuneration Committee[183] - Ms. Mandy Hui Suk Man is the Acting Managing Director for the property and facility management business and has around 20 years of experience in corporate accounting, financing, and taxation[194] - Ms. Celine Tam Pui Ching oversees daily management operations and strategic planning for the Group's property management segment in Hong Kong and Kowloon[197]
昇柏控股(02340) - 2018 - 年度财报