Financial Performance - Revenue for 2024 is projected to be HK$8,101,694, a decrease of 6.5% from 2023's HK$8,665,765[11] - Profit attributable to owners of the Company for 2024 is expected to reach HK$650,253 million, reflecting a growth of 12% from 2023's HK$580,420 million[11] - Basic earnings per share for 2024 are expected to be HK$28.83, an increase from HK$25.73 in 2023[11] - In 2024, the Group's principal business revenue reached HK$8,102 million, with a profit attributable to shareholders of HK$650 million, representing a year-on-year increase of 12.0%[110] - Earnings per share for 2024 amounted to HK28.83 cents, reflecting a year-on-year increase of 12.0%[110] - Total dividends distributed for the year were HK9.8 cents per share, marking a year-on-year increase of 12.6%[110] - The Group's total revenue decreased by 6.5% to HK$8,102 million for the year ended December 31, 2024, compared to HK$8,666 million in 2023[150] - Profit attributable to owners increased to HK$650 million, up 12.0% from HK$580 million in 2023, with basic earnings per share rising to HK28.83 cents from HK25.73 cents[150] Assets and Liabilities - Total assets increased to HK$11,502,371 million in 2024, up from HK$10,641,662 million in 2023, representing a growth of 8.1%[11] - As of December 31, 2024, the Group had cash and bank balances of HK$983 million, an increase from HK$713 million in 2023, while total borrowings rose to HK$1.58 billion from HK$1.19 billion[164] - The Group's net gearing ratio as of December 31, 2024, was approximately 23.4%, up from 20.7% in 2023, indicating a higher level of debt relative to net assets[164] - The Group recorded a cumulative new contract amount of HK$11.02 billion for the year ended December 31, 2024, with a backlog of contracts amounting to approximately HK$34.02 billion, including unfinished contracts of about HK$18.53 billion[162] Market and Project Developments - The Company has expanded into overseas markets with the incorporation of Far East Facade (Singapore) Pte. Ltd. in January 2024[23] - In April 2024, the Company won the bid for the facade project of New Central Site 3A, a significant international-level project in Hong Kong[33] - The Company achieved a first-place ranking in Tencent Group's third-party safety assessment for 14 consecutive months during the construction of the Tenova future project[35] - Major new projects awarded included the New Central Harbourfront 3A Commercial Project and the Kwu Tung North residential project, contributing to the Group's strong performance in Hong Kong[114] - The Galaxy (phase 4) project in Macau, the largest single facade contract globally, is progressing smoothly and meeting its phased targets[115] - The Group is focusing on the facade market development along the "Belt and Road" initiative, with plans to explore large potential projects in the Middle East and Southeast Asia[121][123] Sustainability and Innovation - The Company was awarded the "Hong Kong Green Organisation Certification" for the eighth consecutive year, highlighting its commitment to sustainability[19] - In May, the newly established Far East Photovoltaic Technology (Guangdong) Company Limited will focus on research and development of building integrated photovoltaic (BIPV) products[41] - The Group plans to enhance its facade business through building-integrated photovoltaics (BIPV), with ongoing projects in Hong Kong and the Chinese Mainland[137] - The Group is committed to sustainability and will continue to deepen climate risk management initiatives and enhance technology research and development for BIPV projects[139] - The project BIM Design Team won the Gold Award in the 2024 Seventh "Youlu Cup" National BIM Technology Competition, highlighting the company's commitment to innovation in construction technology[83][84] Corporate Governance and Leadership - Mr. Zhu Haiming was appointed as Executive Director and CEO on June 1, 2024, bringing over 18 years of experience in construction engineering management and infrastructure investment[184] - Mr. Wong Man Cheung, appointed as Executive Director and CFO on July 1, 2022, has over 28 years of experience in accounting, financial management, and corporate financing[188] - The company is focused on sustainability, with key members of the board involved in the Sustainability Committee[187][191] - The board comprises a diverse group of professionals with extensive experience across various sectors, including construction, finance, and legal services[187][194] - The company aims to enhance its corporate governance through the expertise of its independent directors[191] Operational Performance - The facade and general contracting business segment's revenue decreased by 6.4% to HK$7,224 million, with gross profit down 2.4% to HK$862 million and operating profit down 4.0% to HK$782 million[153] - The operating management business segment's revenue decreased to HK$877 million, while operating profit increased to HK$56 million due to effective cost control measures[154] - Administrative, selling, and other operating expenses decreased to HK$210 million from HK$288 million in 2023, reflecting improved cost management[156] - Finance costs decreased to HK$75 million from HK$82 million in 2023, attributed to stringent finance cost control measures[156] Employee and Workforce - The Group employed a total of 4,006 employees as of December 31, 2024, down from 4,498 employees in 2023[178]
中国建筑兴业(00830) - 2024 - 年度财报