Economic Performance - The Group faced challenges in the local economy, including inflation and various economic factors, prompting a prudent approach to managing daily expenses[22] - The Group recorded total revenue of approximately HK$187.3 million, an increase of approximately HK$16.9 million or 9.9% compared to HK$170.4 million for the previous year[28] - Profit attributable to equity holders of the Company was approximately HK$28.1 million, slightly down from approximately HK$28.2 million in the previous year, indicating stable performance[28] - Cost of services rose to approximately HK$125.2 million for the Year, an increase of approximately HK$15.1 million or 13.8% from HK$110.1 million for the year ended 31 December 2023[75] - Gross profit increased to approximately HK$62.1 million, up by approximately HK$1.7 million or 2.9% from HK$60.4 million for the year ended 31 December 2023[80] - Other income remained stable at approximately HK$3.9 million for the Year compared to the financial year ended 31 December 2023[81] - Administrative expenses amounted to approximately HK$32.5 million for the Year, remaining stable due to cost-reduction strategies implemented by management[83] - Income tax expense increased by approximately HK$0.3 million or 6.3% to approximately HK$5.0 million for the Year, primarily due to an increase in taxable profit[84] Strategic Initiatives - Strategic negotiations and securing new projects and tenders were actively pursued to enhance business performance and reaffirm the Group's competitive position[23] - The Company is exploring appropriate investment opportunities that align with its core business objectives to strengthen and diversify its offerings[23] - The Group is committed to expanding its service capacity and enhancing operational efficiency to meet evolving market demands[30] - Initiatives to broaden the customer base and increase market share are underway, aimed at driving growth and enhancing shareholder value[31] - The Group aims to improve operational efficiency and profitability while seeking opportunities to expand its customer base and market share[73] - The expansion of the professional team is a key strategy to strengthen technical capabilities for future project bids[30] Management and Governance - The Group expresses gratitude to shareholders, business partners, customers, and employees for their continuous support and contributions[35] - Mr. Chan Kai Kow Macksion has been an independent non-executive director since August 20, 2018, and is a member of the Audit, Nomination, and Remuneration Committees[47] - Ms. Chik Wai Chun was appointed as an independent non-executive director on September 9, 2021, and serves as the chairlady of the Audit Committee[52] - Mr. Shek Man Wah, aged 58, is the chief operating officer responsible for overseeing project execution and completion, having joined Mannings in May 2006[54] - Ms. Chiu Chui Ping, aged 56, is the chief administrative officer overseeing human resources and administrative functions since October 2005[59] - Mr. So William has been with Mannings since September 2006, managing project execution and completion, and was promoted to divisional director in April 2014[61] - Mr. Lam Chi Chiu has been a divisional director since September 2016, managing project execution and completion[63] - Mr. Pang Chun Sing George has over 40 years of experience in civil engineering and has been a senior partner since 1999[50] - Ms. Chik Wai Chun has over 17 years of experience in auditing, accounting, corporate governance, and company secretarial roles[53] - Mr. So was admitted as a member of the Institution of Highways and Transportation in April 1998 and as a chartered engineer in December 2002[62] - Mr. Lam was certified as a registered professional engineer in Hong Kong from July 2013 to June 2014[64] Financial Position - As of December 31, 2024, the Group's cash and bank balances amounted to approximately HK$36.5 million, down from HK$67.5 million in 2023[97] - The Group had net current assets of approximately HK$130.7 million as of December 31, 2024, compared to HK$146.4 million in 2023[98] - Total equity attributable to owners of the Company was approximately HK$136.2 million as of December 31, 2024, down from HK$153.1 million in 2023[99] - The Board does not recommend the payment of a final dividend for the year, resulting in a total cash dividend of HK$0.05625 per ordinary share for the year, down from HK$0.08125 in 2023[91] - The Group's gearing ratio was nil as of December 31, 2024, consistent with the previous year[120] - The Group had no contingent liabilities as of December 31, 2024, remaining unchanged from 2023[102] - The Group's debt-to-equity ratio was zero as of December 31, 2024, consistent with the previous year[125] Environmental, Social, and Governance (ESG) - The ESG report covers the period from January 1, 2024, to December 31, 2024, highlighting the Group's commitment to corporate social responsibility and compliance with ESG regulations[130] - The ESG strategy is integrated into business operations, with regular meetings held to monitor ESG-related risks and opportunities[143] - The Board is responsible for overseeing the Group's ESG strategy and ensuring compliance with legal requirements[144] - Stakeholder engagement is prioritized, with efforts made to understand and address their concerns regarding sustainable development[149] - Air emissions from vehicles showed a significant reduction in FY2024, with Nitrogen Oxides (NOX) decreasing to 1,128.31 grams from 3,014.37 grams in FY2023, representing a reduction of approximately 62.6%[168] - Sulphur Oxides (SOX) emissions also decreased from 33.35 grams in FY2023 to 25.62 grams in FY2024, a reduction of about 23.2%[168] - Respiratory Suspended Particles (PM) emissions fell from 221.94 grams in FY2023 to 83.08 grams in FY2024, marking a decrease of approximately 62.6%[168] - The Group is committed to promoting the use of public transportation among staff to minimize environmental impact[164] - Future plans include transitioning to alternative fuels, such as electric or hydrogen-powered vehicles, when practicable[164] - The Group's materiality assessment identified key ESG topics, focusing on environmental and social responsibilities for sustainable business development[158] - The Group aims to enhance the quality of ESG management by addressing the most significant topics identified through stakeholder engagement[158] - Compliance with laws and regulations is a priority for the Group in its operations and stakeholder communications[156] - The Group emphasizes ongoing improvement in employee compensation, welfare, and development as part of its social responsibility efforts[160] - The Group's environmental protection measures align with relevant emission laws and regulations, demonstrating a commitment to sustainable practices[165] - Greenhouse gas emissions from mobile combustion sources decreased from 5.35 tonnes in FY2023 to 4.11 tonnes in FY2024, representing a reduction of approximately 23.2%[169] - Total emissions for Scope 1 and Scope 2 increased from 72.00 tonnes in FY2023 to 127.74 tonnes in FY2024, an increase of approximately 77.5%[169] - Emission intensity rose from 0.42 tonnes per staff in FY2023 to 0.73 tonnes per staff in FY2024, indicating a 73.8% increase[169] - The Group generated 4.01 tonnes of waste paper in FY2024, down from 4.48 tonnes in FY2023, reflecting a reduction of approximately 10.5%[175] - Total electricity consumption increased from 178,285 kWh in FY2023 to 195,275 kWh in FY2024, an increase of approximately 9.5%[184] - Electricity usage intensity rose from 1,042.60 kWh per staff in FY2023 to 1,415.04 kWh per staff in FY2024, a rise of approximately 35.6%[184] - The Group aims to reduce GHG emissions intensity by 2% by 2026 compared to the 2021 baseline, primarily through transitioning to hybrid cars[172] - The Group plans to reduce electricity usage intensity to around 900 kWh per staff member in the coming year[184] - The Group maintained a zero-business air travel policy to reduce carbon emissions from unnecessary business trips[171] - The Group did not receive any notice of non-compliance regarding air or GHG emissions during the year[173] - Total water consumption decreased from 197.00 m³ in FY2023 to 59 m³ in FY2024, representing a reduction of approximately 70%[193] - Water consumption intensity improved from 1.15 m³/kWh per staff in FY2023 to 0.34 m³/kWh per staff in FY2024, indicating a significant increase in efficiency[193] - The Group aims to further reduce water consumption in monitored areas for the upcoming year, focusing on identifying areas for improvement[188] - The Group conducts regular inspections for leaks and promptly repairs any identified issues to prevent water wastage[189] - The Group implements policies to reduce emissions and conserve resources, aiming to decrease its carbon footprint and promote sustainable practices[196] - Employee awareness regarding environmental concerns is prioritized through practical guidance and actionable tips to encourage participation in reducing energy consumption and GHG emissions[196] - The Group continuously monitors updates to environmental and natural resource laws to ensure compliance[196] - Climate change risks have been evaluated, categorized, and corresponding mitigation measures have been outlined by the Group[198]
宝燵控股(08601) - 2024 - 年度财报