Financial Performance - The group's revenue for 2024 was HKD 14.37 billion, an increase of 15% compared to 2023[4] - Profit attributable to the company's owners was HKD 434 million, a slight decrease from HKD 467 million in the previous year[4] - The company's revenue increased by 15% to HKD 14.4 billion for the year ending December 31, 2024, compared to HKD 12.5 billion in 2023[23] - Gross profit decreased to HKD 1.2 billion, with a gross margin of 8.0%, down from 10.4% in the previous year[23] - Shareholders' profit attributable to the company was HKD 434 million, a decrease from HKD 474 million in the previous year[23] Project Contracts and Backlog - The group has secured new project contracts worth HKD 10.8 billion, with a total backlog of HKD 31.6 billion, equivalent to just over two years of work[4] - The total construction contract revenue in Hong Kong was HKD 14.2 billion, up from HKD 12.3 billion in 2023[25] - The total existing contracts amount to HKD 31.6 billion, providing significant revenue assurance for the next two years[25] Industry Challenges - The construction industry, which constitutes 99% of the group's revenue, is facing a challenging environment with a potential 25% to 30% reduction in construction projects due to decreased private development[4] - The company anticipates that the construction industry will face challenges in the next two to three years due to market volatility[17] Employee and Workforce - Employee count increased from 3,601 in 2023 to 3,784 by the end of 2024, reflecting the growth in project workload[11] - The total payroll for the year ending December 31, 2024, was approximately HKD 1.825 billion, with 3,784 employees[30] - The gender distribution among employees is 77% male and 23% female[187] - The employee turnover rate is 23.7%, with 76.3% of the turnover attributed to male employees[188] Dividends and Shareholder Returns - The board proposed a final dividend of HKD 0.075 per share and a special dividend of HKD 0.060 per share for the fiscal year ending December 31, 2024[3] - The total dividend distribution for the year amounts to HKD 0.165 per share, including an interim dividend of HKD 0.030 per share paid on September 26, 2024[53] - The proposed dividends are subject to approval at the upcoming annual general meeting scheduled for May 21, 2025[54] Governance and Management - The company has adhered to the corporate governance code throughout 2024, except for the separation of roles between the chairman and CEO[94] - The board consists of eleven members, including four executive directors, three non-executive directors, and four independent non-executive directors[103] - The board has established a dividend policy aimed at providing stable and sustainable returns to shareholders, considering financial status and future expansion plans[164] Risk Management and Internal Controls - The board is committed to maintaining an effective risk management and internal control system to safeguard the company's assets and shareholders' interests, with annual assessments conducted[141] - The internal audit team conducted a systematic review of the group's risk management and internal control systems, providing reasonable assurance of their effectiveness[145] Environmental and Social Responsibility - The company emphasizes the importance of sustainable development in all business operations to create a better future for employees, the environment, and the community[172] - The group has been recognized for its environmental initiatives, receiving the Gold Award for Outstanding Environmental Management in Project Management[152] - The group has committed to continuous improvement in quality assurance, occupational safety, and environmental performance, aiming to inspire employees and subcontractors[155] Awards and Recognition - The group received multiple awards in the current year, including two Silver Awards and seven Merit Awards in the Hong Kong Construction Safety Awards[147] - The group has been awarded the Contractor of the Year (Grand Award) and NEC Contractor of the Year (Grand Award) for its outstanding performance in the construction industry[156] Employee Development and Welfare - The company has implemented various training programs, with an average training hour of 9.6 for ordinary employees, 4.77 for supervisory staff, and 5.18 for management[199] - The company has committed to providing group medical benefits to all eligible employees and their families in 2024, demonstrating its dedication to employee welfare[195] - A total of 61 employees participated in the "Talent Development Program" aimed at nurturing potential junior managers in 2024[196]
利基控股(00240) - 2024 - 年度财报