Financial Performance - Total revenue for the year ended December 31, 2024, increased to approximately HKD 6,066.0 million, up from HKD 5,445.6 million for the year ended December 31, 2023, representing a growth of about 11.3%[2] - Gross profit for the year ended December 31, 2024, rose to approximately HKD 353.2 million, compared to HKD 306.0 million for the previous year, marking an increase of approximately 15.4%[2] - Profit attributable to equity holders for the year ended December 31, 2024, was approximately HKD 53.7 million, down from HKD 71.9 million in the previous year, reflecting a decrease of about 25.3%[2] - Basic and diluted earnings per share for the year ended December 31, 2024, were HKD 0.1074, compared to HKD 0.1438 for the year ended December 31, 2023, indicating a decline of approximately 25.3%[4] - The total profit before tax for the group was HKD 80,544,000 in 2024, compared to HKD 84,901,000 in 2023, indicating a decrease of approximately 5.3%[18] - The group reported a basic earnings per share of HKD 0.1073, based on a profit attributable to equity holders of HKD 53,715,000 for the year, compared to HKD 71,887,000 in the previous year[40] - Net profit decreased by approximately 25.2% to about HKD 54.0 million from HKD 72.2 million, with net profit margins of approximately 1.3% and 0.9% for the years ending December 31, 2023, and 2024, respectively[78] Revenue Breakdown - Total revenue for the construction segment reached HKD 5,926,563,000 in 2024, up from HKD 5,231,681,000 in 2023, representing an increase of approximately 13.3%[18] - Revenue from the construction business segment reached HKD 5,926,563,000, up 13.3% from HKD 5,231,681,000 in the previous year[28] - Revenue from environmental services decreased to HKD 128,544,000 from HKD 205,236,000, a decline of 37.4%[28] - Revenue from environmental business decreased by approximately HKD 74.4 million or about 34.8% to approximately HKD 139.5 million, primarily due to reduced income from construction and renovation services[63] Assets and Liabilities - Total assets less current liabilities as of December 31, 2024, amounted to HKD 931.8 million, an increase from HKD 728.2 million as of December 31, 2023[7] - Current assets as of December 31, 2024, totaled HKD 4,489.8 million, compared to HKD 3,777.7 million in the previous year, representing an increase of approximately 18.8%[7] - Current liabilities as of December 31, 2024, were HKD 3,924.4 million, up from HKD 3,403.2 million in the previous year, reflecting an increase of about 15.3%[7] - Non-current liabilities increased to HKD 255.9 million as of December 31, 2024, from HKD 93.3 million in the previous year, indicating a significant rise of approximately 174.5%[8] - The total assets of the group increased to HKD 4,856,182,000 in 2024 from HKD 4,131,355,000 in 2023, marking a growth of around 17.5%[20] - The total liabilities rose to HKD 4,180,289,000 in 2024, up from HKD 3,496,506,000 in 2023, which is an increase of approximately 19.6%[20] Dividends - The company proposed a final dividend of HKD 0.018 per share, totaling approximately HKD 9.0 million[2] - The proposed final dividend for the year is HKD 0.018 per share, consistent with the previous year’s dividend[39] - The board proposed a final dividend of HKD 0.018 per share for the reporting period, consistent with the previous year's dividend[93] Research and Development - The company incurred research and development expenses of HKD 20,074,000, an increase from HKD 17,510,000 in the previous year, indicating a focus on innovation[36] - The group is focusing on technological innovation with total R&D expenditure of approximately HKD 20.1 million to enhance core competitiveness in the construction industry[55] Financial Management - The company continues to manage its financial position prudently and frequently reviews its liquidity and financing needs[90] - The company maintains a conservative cash and financial management policy to ensure it meets its funding requirements for business development[90] - The company has adopted corporate governance practices to safeguard shareholder interests and enhance corporate value[96] Taxation - The total tax expense for the year was HKD 26,594,000, significantly up from HKD 12,676,000 in the previous year, reflecting an increase in current tax liabilities[39] - Income tax expense increased by approximately 109.4% to about HKD 26.6 million from HKD 12.7 million, with effective tax rates of approximately 14.9% and 33.0% for the years ending December 31, 2023, and 2024, respectively[76] Project Management - The group secured 20 new projects during the year with a total original contract value of approximately HKD 8.8 billion, while completing 12 projects valued at HKD 3.2 billion[50] - The group has 52 ongoing projects with a total original contract value of approximately HKD 33.1 billion as of December 31, 2024[50] Other Financial Metrics - The company has adopted revised Hong Kong Financial Reporting Standards for the current financial year, impacting the accounting policies applied[14] - The debt-to-equity ratio improved to approximately 30.2% from 42.3%[86] - As of December 31, 2024, the company's interest-bearing bank borrowings amounted to approximately HKD 534.2 million, an increase from HKD 415.6 million in 2023[89] - The company pledged accounts receivable and contract assets with a net book value of HKD 187.2 million as of December 31, 2024, compared to HKD 174.6 million as of December 31, 2023[89]
华营建筑(01582) - 2024 - 年度业绩