Financial Performance - The company's revenue for the year ended December 31, 2020, decreased by 6.7% to approximately HKD 331.6 million from approximately HKD 355.3 million in 2019[8] - The construction and engineering services contributed approximately HKD 325.7 million in revenue, a decrease of about 7.8% compared to approximately HKD 353.3 million in the previous year[14] - The total revenue for the year ended December 31, 2020, decreased by approximately HKD 23.7 million or 6.7% to about HKD 331.6 million from approximately HKD 355.3 million for the year ended December 31, 2019[26] - Revenue from construction and engineering services decreased by approximately HKD 27.6 million or 7.8% to about HKD 325.7 million for the year ended December 31, 2020, primarily due to a reduction in public slope engineering project tenders[27] - The total gross profit for the year ended December 31, 2020, was approximately HKD 5.2 million, a decrease of 52.0% from about HKD 10.9 million for the year ended December 31, 2019[30] - The gross profit margin for the year ended December 31, 2020, was approximately 1.6%, down from about 3.1% for the year ended December 31, 2019[30] - The net loss for the year ended December 31, 2020, was approximately HKD 28.1 million, compared to a net loss of approximately HKD 12.5 million in 2019, with a net loss margin of about 8.5% compared to 3.5% in the previous year[42] Operational Challenges - The company anticipates continued challenges in the outlook for construction and engineering services and property-related services in the coming years[8] - The board anticipates that the industry conditions for construction and engineering services, particularly in the slope engineering sector in Hong Kong, will be challenging in the coming year[18] - The company plans to adopt a cautious approach in expanding its construction and decoration business in Cambodia in 2021 due to ongoing pandemic challenges[25] Business Strategy and Future Plans - The company plans to review existing operations and business strategies to identify or seek new business opportunities to strengthen its revenue base[8] - The company aims to diversify its business strategy to enhance future development and strengthen its revenue base[21] - The company has entered into a joint venture arrangement for public works contracts in the road and drainage category to diversify its civil engineering types[18] Employee and Compensation - The total employee cost, including director remuneration, was approximately HKD 37.2 million, an increase from HKD 27.6 million in 2019[53] - The company had 146 employees as of December 31, 2020, down from 180 employees as of December 31, 2019[53] - Employee engagement is supported through competitive compensation and regular reviews of salary and benefits to maintain competitiveness[175] - The company continues to review its employee compensation policy to ensure competitiveness in the market[53] Environmental Management - The company is committed to environmental sustainability and has implemented environmental management plans in its operations[54] - The company has implemented an environmental management system certified under ISO 14001:2015, reflecting its commitment to protecting natural resources and the environment[144] - The company has established a dedicated environmental department to ensure compliance with environmental regulations[153] - The company has adopted a waste management hierarchy to evaluate its waste management methods, focusing on minimizing environmental impact[157] - The company has implemented measures to reduce air pollution during construction, including dust suppression techniques[154] Corporate Governance - The company has adopted and complied with the corporate governance code as per the listing rules, except for deviation from code provision A.2.7[79] - The company emphasizes the importance of maintaining high levels of corporate governance to enhance shareholder value and protect stakeholders' interests[78] - The board of directors consists of six members, including three executive directors and three independent non-executive directors[83] - The company has established committees, including an audit committee, nomination committee, and remuneration committee, to oversee specific areas of governance[82] Safety and Health - The company achieved OHSAS 18001:2007 certification, reflecting compliance with occupational health and safety standards[180] - The company recorded a total of 459 workdays lost due to occupational injuries, with a fatality rate of 0.24%[181] - The company has implemented flexible working hours to reduce the risk of disease transmission among employees during the COVID-19 pandemic[183] Stakeholder Engagement - The company engages stakeholders through various communication channels, including annual financial reports, seminars, and shareholder meetings[148] - The company has performed a materiality assessment to identify key environmental, social, and governance issues relevant to stakeholders[149] - The company emphasizes the importance of effective communication with shareholders and potential investors to enhance investor relations and ensure timely access to comprehensive information regarding financial performance and strategic goals[134]
致浩达控股(01707) - 2020 - 年度财报