Financial Performance - The company reported a revenue of approximately HKD 467.1 million for the fiscal year ending September 30, 2025, a decrease of about HKD 269.5 million or 36.6% compared to the previous fiscal year[10]. - Other income for the fiscal year 2025 was approximately HKD 1.9 million, a decrease of about HKD 1.6 million compared to the previous fiscal year, primarily due to reduced bank interest income[11]. - The gross profit margin increased from 1.8% in the fiscal year 2024 to 3.1% in the fiscal year 2025, driven by improved profit margins on completed projects[10]. - The company announced an interim dividend of HKD 0.03 per share for the fiscal year 2025, totaling HKD 20 million, compared to zero in the fiscal year 2024[68]. - The company did not recommend a final dividend for the fiscal year 2025, consistent with the previous fiscal year[69]. - The company's distributable reserves as of September 30, 2025, were approximately HKD 139.9 million, which includes share premium and share option reserves after deducting accumulated losses[74]. Contracts and Projects - The company has secured long-term contracts totaling over HKD 1.9 billion, which will contribute to stable revenue over the next few years[9]. - As of September 30, 2025, the group has secured several significant contracts exceeding HKD 1,900 million, supported by ongoing government investments in various construction projects in Hong Kong[26]. - The company is focusing on four major projects, including the second phase of the Kai Tak New Emergency Hospital and the Kwong Wah Hospital, to enhance its service offerings[9]. - The company has completed the first phase of the Kai Tak New Emergency Hospital and is progressing with the second phase, contributing to its project pipeline[9]. Employee and Workforce Management - The number of long-term employees decreased from 86 to 84, while short-term employees decreased from 1,022 to 547 as of September 30, 2025[18]. - The total number of employees as of September 30, 2025, was 631, down from 1,108 in the previous year, including 84 long-term employees and 547 short-term employees[139]. - The employee turnover rate for males was 4% in 2025, compared to 3% in 2024, while for females it remained at 0%[164]. - The total employee training hours decreased from 4,955 hours in 2024 to 2,930 hours in 2025, representing a reduction of approximately 41%[174]. - The number of trained employees decreased from 1,108 in 2024 to 631 in 2025, a decline of about 43%[174]. - The average training hours per employee increased slightly from 4.47 hours in 2024 to 4.64 hours in 2025, an increase of approximately 3.8%[174]. - The company maintained a 100% training participation rate among employees in both 2024 and 2025[174]. Corporate Governance - The board consists of five members, including the chairman and CEO, with a commitment to maintaining high standards of corporate governance[30]. - The company has adopted the standard code of conduct for securities trading by directors and confirmed compliance for the fiscal year 2025[29]. - The board held four meetings during the fiscal year, with some meetings having less than the required 14 days' notice for members[30]. - The company emphasizes continuous professional development for directors, ensuring compliance with corporate governance codes[37]. - The board confirmed that the financial statements accurately reflect the group's financial position and performance, adhering to all relevant statutory requirements and accounting standards[49]. - The company has adopted corporate governance policies and practices to ensure compliance with legal and regulatory requirements[39]. - All independent non-executive directors have submitted annual confirmations of their independence, and the company considers them to be independent individuals[114]. Risk Management and Internal Controls - The company has established a prudent internal control framework to assess and manage risks[35]. - The board believes that the risk management and internal control systems are effective and sufficient, complying with the corporate governance code[48]. - The internal audit function reviewed the effectiveness of the group's risk management and internal control systems, reporting findings and recommendations to the audit committee and board[47]. - The company will regularly follow up on corrective actions to ensure that identified weaknesses are appropriately addressed[47]. Environmental, Social, and Governance (ESG) Initiatives - The group’s ESG report outlines its commitment to sustainable development and includes key performance indicators related to emissions and resource usage[127][133]. - The company has established a comprehensive environmental management system and obtained ISO 14001:2015 certification, ensuring compliance with applicable environmental laws and regulations[137]. - The total greenhouse gas emissions for the reporting period were approximately 58.76 tons, a decrease from 71.70 tons in the previous year, with an emissions density of 0.09 tons per employee compared to 0.06 tons per employee in the prior year[139]. - The company aims to reduce greenhouse gas emissions by 2% in the upcoming year, implementing measures such as optimizing vehicle routes and using low-sulfur fuel[139]. - The company has implemented measures to reduce energy consumption, thereby minimizing its carbon footprint[140]. - The group aims to reduce energy consumption by 2% in the upcoming year, including water usage[146]. - The company has established appropriate management policies and internal control systems for ESG matters during the reporting period[135]. Shareholder Information - The company has a total of 138,856,000 shares held by Mr. Gao Junxi, representing 22.79% of the issued share capital[82]. - Mr. Gao Junxi also holds 302,747,000 shares through a controlled corporation, accounting for 45.40% of the issued share capital[82]. - Ms. Gao Yongli holds 6,600,000 shares, which is 0.99% of the issued share capital[82]. - Major shareholders as of September 30, 2025, include Mr. Gao Junxi with 68.19% and Da De Investment Trading Co., Ltd. with 45.40% of the issued shares[108]. Supplier and Customer Relationships - The company has a strong focus on maintaining good relationships with suppliers, subcontractors, and customers to achieve its current and long-term goals[78]. - The top five customers accounted for approximately 99.5% of the total revenue in the fiscal year 2025, with the largest customer contributing about 80.2%, up from 63.9% in the fiscal year 2024[76]. - The top five suppliers represented about 41.3% of total material costs in the fiscal year 2025, a decrease from 67.1% in the fiscal year 2024, with the largest supplier accounting for 10.9%[77]. - The company reported that the top five subcontractors accounted for approximately 98.9% of total subcontracting fees in the fiscal year 2025, with the largest subcontractor contributing 90.0%[77]. Charitable Contributions - The group made charitable donations of approximately HKD 250,000 in the fiscal year 2025, compared to HKD 1,100,000 in the fiscal year 2024[124]. - The company donated approximately HKD 250,000 to charitable organizations during the reporting period, compared to HKD 1,110,000 in 2024[189].
高丰集团控股(02863) - 2025 - 年度财报