高萌科技(08065) - 2025 - 年度财报

Corporate Information This chapter provides fundamental information about the company, its Board of Directors, committees, registered office, principal place of business, share registrar, principal bankers, and stock code Board of Directors Composition The Board comprises four executive directors and three independent non-executive directors, with established committees for audit, remuneration, nomination, and risk management - Board members include Mr. Luk Kam Ming (Chairman), Mr. Luk Kwai Nung (Chief Executive Officer), Mr. Luk Yin Cheung, Ms. Li Kam Han (appointed on August 7, 2024) as executive directors, and Mr. Lau On Kwok, Mr. Law Wing Chi, Dr. Tse Chi Keung as independent non-executive directors[12][14] - The company has established an Audit Committee, Remuneration Committee, Nomination Committee, and Risk Management Committee, each with clearly defined chairpersons and members[12][13][14] Registered Office and Principal Place of Business The company is registered in the Cayman Islands, with its Hong Kong headquarters and principal place of business located in Shatin Industrial Centre, New Territories - The registered office is located at Cricket Square, Cayman Islands[16] - The Hong Kong headquarters and principal place of business are located at Unit B12, G/F, Shatin Industrial Centre, Siu Lek Yuen Road, Shatin, New Territories, Hong Kong[16][17] Other Key Information This section lists the company's share registrar, principal bankers, company website, and stock code - The Hong Kong share registrar is Tricor Investor Services Limited[18] - Principal bankers include The Hongkong and Shanghai Banking Corporation Limited and DBS Bank (Hong Kong) Limited[18] - The company website is www.kml.com.hk, and the stock code is 8065[18] Chairman's Statement The Chairman's Statement reviews the Group's performance for the reporting year, highlighting a return to profitability, and outlines future business environment, challenges, and strategic initiatives including service diversification, enhanced collaboration, technology investment, and talent development Business Review The Group achieved a net profit of HK$97,000 this year, successfully reversing losses from the previous two years, primarily due to employee efforts and support from clients and suppliers Annual Net Profit Comparison | Indicator | 2025 (HK$) | 2024 (HK$) | | :--- | :--- | :--- | | Net Profit/(Loss) | 97,000 | (13,793,000) | - This year's profit marks the Group's emergence from two consecutive years of losses, a result of dedicated employee efforts and strong support from clients and suppliers[20][25] Outlook The Group anticipates increased competition in public transport project tenders and a complex global economic environment, but also sees opportunities in emerging markets and cost reductions, planning to address challenges and seize opportunities through service diversification, enhanced collaboration, technology investment, and talent development - Intensified competition for public transport project tenders is expected due to a cooling Hong Kong property and infrastructure market[21][25] - The global competitive landscape, particularly US-China tensions, may indirectly impact business, but US policy shifts could create new growth opportunities for Eastern business partners[21][22][25][26] - An economic downturn may positively impact the Group's financial performance by reducing subcontracting costs[22][26] - Service Diversification: Expanding service offerings and exploring new areas, leveraging expertise to enter new markets - Strengthening Partnerships: Deepening collaboration with existing and new suppliers, utilizing Greater Bay Area smart manufacturing and transport infrastructure advantages to enhance service quality and market reach - Technology Investment: Continuously investing in technologies to improve efficiency and safety, including robotics, AI equipment, smart on-site safety systems, and virtual reality training systems, and integrating AI tools into internal management and client solutions - Talent Development: Investing in training and development programs to enhance team skills, fostering innovation and growth - Financial Prudence: Maintaining a prudent financial management approach, closely monitoring market conditions to safeguard financial health[23][27][28][29][30][31][32][33][34][35] Financial Highlights This section summarizes the Group's key financial performance for the reporting year, including revenue, gross profit, and net profit, noting no final dividend recommendation Key Financial Data Comparison | Indicator | 2025 (HK$ million) | 2024 (HK$ million) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Revenue | 196.1 | 194.1 | 1.03% | | Gross Profit | 39.1 | 29.9 | 30.77% | | Net Profit/(Loss) | 0.1 | (13.8) | 100.72% (returned to profitability) | - The Board does not recommend a final dividend for the reporting year (2024: nil)[38][40] Management Discussion and Analysis This chapter discusses the Group's business performance, future outlook, financial position, employee policies, risk management, and other important operational information Business Review The Group's revenue slightly increased by 1.0% this year, with gross profit significantly rising by 30.8%, primarily due to successful progress on high-margin projects and lower-than-expected project costs, while performance varied across business segments FY2025 Business Segment Revenue Comparison | Business Segment | 2025 (HK$ million) | 2024 (HK$ million) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Critical Transport System Solutions | 18.3 | 10.5 | 74.3% | | Mobile Ticketing and Digital Payment Solutions and Services | 44.4 | 54.7 | -18.8% | | Digital Assembly and Maintenance Services | 30.3 | 25.2 | 20.2% | | E&M Technology Solutions and Engineering Services | 100.9 | 102.8 | -1.8% | | Sales of Products, Parts and Components | 2.2 | 1.0 | 120.0% | - The Group's total revenue was approximately HK$196.1 million, representing a year-on-year increase of approximately 1.0%[41][50] - Gross profit was approximately HK$39.1 million, a year-on-year increase of approximately 30.8%, primarily due to smooth progress on high-margin projects and lower-than-expected actual costs for warranty projects[42][50] - The total outstanding contract sum was approximately HK$307.9 million, a decrease from the previous year (2024: HK$342.0 million)[42][51] Environmental, Social and Governance (ESG) The Group integrates ESG principles into its corporate strategy, achieving significant milestones in cybersecurity awareness, ESG culture promotion, employee well-being, and community engagement, earning "Gold" and "Excellence" awards this year - Received the "Gold Award" in the inaugural "Building Employee Firewall" Commendation Scheme 2024, recognizing efforts in fostering cybersecurity awareness[60][64] - Honored with the "ESG Culture Award 2024," demonstrating successful promotion and embedding of ESG across all organizational levels[60][64] - Awarded the "Excellence Organization" in the "Heart-Caring Organization Award," reflecting commitment to employee well-being and community welfare[61][64] - Actively supported and participated in the "Green Rewards" charity program, and continued involvement in business-school partnerships and internship programs to cultivate a sustainable workforce[61][64] Outlook The Group anticipates a temporary easing of talent shortages and labor cost pressures in Hong Kong, planning to address challenges and seize opportunities by collaborating with educational institutions, integrating advanced technologies, deepening partnerships with Chinese suppliers, and expanding into overseas markets - Hong Kong's talent shortage and rising labor costs may temporarily ease due to economic downturn and a slowdown in the infrastructure and property markets[65][74] - Actively collaborating with education institutions to cultivate new talent, ensuring a stable influx of skilled professionals for the future[66][75] - Committed to integrating robotics