Financial Performance - Total revenue for the year ended December 31, 2024, was HKD 4,609,266,000, representing an increase of 19.7% compared to HKD 3,851,621,000 for the year ended December 31, 2023[3] - Gross profit for the year was HKD 101,185,000, up from HKD 97,903,000, indicating a growth of 3.1%[3] - Operating profit increased to HKD 47,006,000 from HKD 40,911,000, reflecting a rise of 15.1%[3] - Net profit attributable to equity shareholders was HKD 27,772,000, compared to HKD 25,324,000, marking a growth of 9.7%[3] - Basic earnings per share rose to HKD 6.9 cents from HKD 6.3 cents, an increase of 9.5%[3] - Total comprehensive income for the year was HKD 27,946,000, up from HKD 25,740,000, showing an increase of 8.6%[5] - The company reported other income of HKD 11,840,000, compared to HKD 3,571,000 in the previous year, indicating a significant increase[3] Expenses and Costs - Administrative expenses rose to HKD 69,590,000 from HKD 63,274,000, reflecting an increase of 10.5%[3] - Finance costs increased to HKD 16,726,000 from HKD 8,284,000, which is a substantial rise of 101.5%[3] - Direct costs for 2024 were HKD 4,508.08 million, up from HKD 3,753.72 million in 2023, while gross profit increased to HKD 101.19 million from HKD 97.90 million[66] - Gross profit margin decreased to 2.20% in 2024 from 2.54% in 2023, primarily due to losses from a general building contract[67] - Other income for 2024 was HKD 3.57 million, down from HKD 5.37 million in 2023[69] Assets and Liabilities - Non-current assets decreased from HKD 73,957 million in 2023 to HKD 65,664 million in 2024, representing a decline of approximately 11.3%[7] - Current assets increased from HKD 1,576,990 million in 2023 to HKD 1,867,979 million in 2024, reflecting a growth of about 18.4%[7] - Total liabilities rose from HKD 1,260,915 million in 2023 to HKD 1,551,097 million in 2024, indicating an increase of approximately 23%[8] - The company's cash and cash equivalents decreased from HKD 348,960 million in 2023 to HKD 194,970 million in 2024, a decline of about 44%[7] - The total equity attributable to shareholders remained stable at HKD 371,129 million in 2024 compared to HKD 371,583 million in 2023, showing a slight decrease of 0.1%[8] - The company's current liabilities increased from HKD 880,212 million in 2023 to HKD 1,015,213 million in 2024, which is an increase of approximately 15.3%[8] - The company's total assets decreased from HKD 1,551,097 million in 2023 to HKD 1,867,979 million in 2024, reflecting a decline of about 6.5%[7] Revenue Segmentation - The total revenue for the reportable segments reached HKD 4,609,266,000, with General Building contributing HKD 3,634,172,000, Civil Engineering contributing HKD 750,345,000, and Others contributing HKD 224,749,000[27] - The revenue from general building was HKD 3,634,172,000, up from HKD 3,020,760,000, indicating a growth of about 20.3%[19] - The revenue from civil engineering services was HKD 750,345,000, an increase from HKD 586,863,000, showing a growth of around 27.8%[19] - The revenue from property management services decreased to HKD 12,168,000 from HKD 29,446,000, a decline of approximately 58.7%[19] Project and Market Activity - The company was awarded a total of 17 projects in Hong Kong, with a total contract value of approximately HKD 2,662 million, comprising 12 public sector projects and 5 private sector projects[45] - As of December 31, 2024, the company has 10 general building projects and 25 civil engineering projects, with a total original contract value of approximately HKD 18 billion[47] - Major ongoing projects include a wastewater treatment facility with a contract value of approximately HKD 557.6 million and a non-profit housing facility with a contract value of approximately HKD 1,497 million[49] - The company continues to expand its project portfolio, reflecting a strong pipeline of future work[47] - The total number of projects awarded and ongoing indicates a robust market position and growth potential in the construction sector[45] Corporate Governance and Compliance - The company has established a high standard of corporate governance, ensuring effective operations and stakeholder rights protection, complying with applicable governance codes[94] - The financial figures for the group as of December 31, 2024, have been verified by the external auditor, confirming consistency with the draft financial statements[104] - The Audit Committee, established on November 19, 2015, reviews the group's annual consolidated financial statements and risk management systems[103] Future Outlook - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[2] - The local economy is expected to recover by 2025, with confidence in the government's commitment to land development and public housing, supporting the company's long-term business objectives[93]
新福港(01447) - 2024 - 年度业绩