Financial Performance - Boltek Holdings Limited reported a total revenue of HKD 150 million for the year 2020, representing a 10% increase compared to the previous year[8]. - The company achieved a net profit of HKD 30 million, which is a 15% increase year-over-year[8]. - For the year ended 31 December 2020, Boltek Holdings Limited recorded total revenue of approximately HK$111.9 million, representing an increase of approximately 11.1% compared to HK$100.7 million for the year ended 31 December 2019[19]. - The profit attributed to owners of the Company for the year was approximately HK$24.0 million, compared to a loss of approximately HK$16.5 million for the year ended 31 December 2019, primarily due to non-recurring government subsidies related to COVID-19[19]. - The Group recorded a profit of approximately HK$24.0 million for the Year, an increase of 45.5% from HK$16.5 million in the previous year, primarily due to non-recurring COVID-19 related government subsidies of approximately HK$6.1 million[70]. - Revenue increased to approximately HK$111.9 million, up by approximately HK$11.2 million or 11.1% from HK$100.7 million for the previous year, driven by an increase in projects awarded and the number of technical staff[73]. Market Expansion and Strategy - Boltek Holdings Limited plans to expand its market presence in Southeast Asia, targeting a 20% market share within the next three years[8]. - Future guidance estimates a revenue growth of 15% for the upcoming fiscal year, driven by new product launches and market expansion[8]. - The Group aims to proactively seek opportunities to expand its customer base and market share, undertaking more building projects to enhance shareholder value[23]. - The Group has initiated a strategic partnership with a local firm to enhance its distribution network, aiming to increase efficiency by 30%[8]. - Boltek Holdings Limited is exploring potential acquisition opportunities to diversify its product offerings and enhance market competitiveness[8]. Operational Efficiency and Development - The company is investing HKD 20 million in new product development, focusing on innovative technology solutions for its customers[8]. - Boltek Holdings plans to expand its team of professionals to enhance technical capabilities for future project bids and improve operational efficiency and profitability[23]. - The Group aims to improve operational efficiency and profitability while seeking opportunities to expand its customer base and market share[70]. - The Group has strengthened its in-house team by hiring two Registered Structural Engineers and one Registered Geotechnical Engineer, achieving its recruitment goals[101]. - The Group has successfully recruited eight draftsmen to prepare technical drawings, exceeding the initial target of three[104]. Financial Health and Management - The management emphasized the importance of maintaining a strong cash flow, with a cash reserve of HKD 50 million as of year-end 2020[8]. - As of December 31, 2020, the Group's cash and bank balances amounted to HK$103.4 million, an increase from HK$89.1 million in 2019, representing a growth of approximately 16.1%[79]. - The Group's net current assets as of December 31, 2020, were HK$145.7 million, up from HK$122.0 million in 2019, indicating a growth of about 19.4%[79]. - Total equity attributable to owners of the Company as of December 31, 2020, was HK$151.2 million, compared to HK$127.2 million in 2019, reflecting an increase of approximately 18.9%[79]. - The Group maintained a conservative treasury policy, ensuring a healthy liquidity position throughout the year[79]. Corporate Governance and Compliance - The company emphasizes the importance of independent judgment in its board decisions, as highlighted by the roles of independent non-executive directors[49]. - The company is committed to maintaining high standards of corporate governance and accountability through its audit and remuneration committees[52]. - The Group's compliance manual includes standards for anti-corruption, anti-bribery, and data protection[155]. - The Group did not have any instances of non-compliance with applicable labor laws and regulations during the year, ensuring adherence to legal standards[181]. Environmental and Social Responsibility - The Group has allocated HKD 5 million for environmental and social governance initiatives in 2021[8]. - The Group remains committed to its Environmental, Social and Governance (ESG) measures to ensure long-term sustainability despite the challenges posed by the COVID-19 pandemic[25]. - The Group is committed to minimizing air and greenhouse gas emissions as part of its environmental protection efforts[157]. - The Group's GHG emissions from mobile combustion sources decreased from 12.19 tonnes in FY2019 to 10.06 tonnes in FY2020[164]. - The Group's CO2 emissions from electricity purchased increased from 77.86 tonnes in FY2019 to 83.80 tonnes in FY2020[164]. Employee Management and Welfare - The Group employed a total of 185 employees as of December 31, 2020, with a higher proportion of male employees due to the nature of the business[183]. - The employee turnover rate for the year was 12%, with 23 permanent employees leaving, showing a balanced turnover rate of 13% for males and 11% for females[189]. - The Group provides various types of leave, including sick leave, marriage leave, funeral leave, and maternity leave[199]. - The Group offers group medical coverage that extends to employees' spouses[200]. - Zero cases of work injury or job-related fatalities were reported during the year[198].
宝燵控股(08601) - 2020 - 年度财报