Employee and Remuneration - As of December 31, 2022, the group had 3,390 employees with a total remuneration of approximately HKD 1,560,000,000 for the fiscal year[5] - The group has adopted a competitive remuneration policy based on individual responsibilities, qualifications, experience, and performance, with discretionary bonuses linked to financial performance[5] - The annual salary for the chairman has been adjusted to HKD 8,650,000 effective January 1, 2023[50] - The gender distribution of employees showed 30.3% female and 81.1% male[187] - The company received recognition for its employee care initiatives, including the "Caring Company" award and "Good MPF Employer 5 Years+"[190] - The implementation of "Family-Friendly Employment Measures" has reduced the required working days for employees, enhancing work-life balance[190] - The company emphasizes the importance of employee feedback and communication through various channels[190] Financial Performance - The group's gross profit increased by 33% to HKD 981 million, with a slight rise in gross margin from 7.4% to 7.9%[156] - The company's revenue for 2022 increased from HKD 10,000,000,000 to HKD 12,000,000,000, representing a growth of 24%[191] - Net profit after tax rose by 47% to HKD 429,000,000, driven by revenue growth[191] - The operating revenue from infrastructure investment projects in China increased by 11% to HKD 202 million, but losses rose from HKD 15 million to HKD 24 million[157] - Administrative expenses increased by 11%, and the company incurred a loss of HKD 26 million from its corporate bond portfolio, offsetting some of the gross profit increase[156] - The company plans to distribute a final dividend of HKD 0.105 per share, pending shareholder approval at the upcoming annual general meeting[152] - The company is cautiously optimistic about achieving breakeven in 2023, as more factories in industrial parks resume production following the easing of pandemic restrictions[157] Corporate Governance - The board is responsible for providing effective leadership and monitoring to achieve the group's strategic objectives[27] - The board consists of four independent non-executive directors, representing over one-third of the board[32] - The company has established mechanisms to encourage independent and objective opinions from directors, including annual separate meetings with independent non-executive directors[32] - The company has complied with the corporate governance code, except for the separation of roles between the chairman and the CEO[55] - The board members receive monthly updates on business activities and financial information to ensure effective governance[68] - The nomination committee is responsible for evaluating the independence of independent non-executive directors and ensuring a transparent process for appointing directors[102] - The board has established clear environmental, social, and governance (ESG) policies integrated into the company's management handbook[194] Risk Management and Internal Controls - The audit committee reviewed the financial information, financial reporting procedures, risk management, and internal control systems for the fiscal year ending December 31, 2022[73] - The internal audit team conducts risk-based audits and collaborates with management to analyze collected data and assess operational controls[88] - The internal audit team conducted a systematic review of the group's risk management and internal control systems, providing reasonable assurance of their effectiveness[113] - The board has authorized the audit committee to review and assess the effectiveness of the group's risk management and internal control systems[130] - The company has established a whistleblowing mechanism for employees to report any misconduct related to financial reporting and internal controls[75] - The group has not received any whistleblower reports in 2022, indicating a stable internal environment[114] Business Operations and Strategy - The group has established a framework agreement with Wai Kee for concrete procurement, with an expected total amount exceeding HKD 140,000,000 for the fiscal year 2023[19] - The company has entered into an investment agreement for a redevelopment project in Shenzhen, China[45] - The company is preparing for future bids in the construction market, which is expected to have significant opportunities as outlined in the latest policy report[156] - The group managed over 60 engineering projects in the fiscal year 2022, accounting for 98% of the group's revenue and 91% of its workforce[173] - The company aims to become a leading construction company in Hong Kong, focusing on professionalism, creativity, and integrity[56] Shareholder Information - The major shareholder, Top Horizon Holdings Limited, holds 58.12% of the shares[16] - The group has maintained a public float exceeding 25% as of December 31, 2022[24] - The company has not entered into any stock-linked agreements as of December 31, 2022[8] - The total value of related transactions for the year 2022 is capped at HKD 170 million, while for 2023 it is capped at HKD 140 million[47] - The board considers various factors, including financial status and operational needs, when proposing dividends[168] Compliance and Certifications - The group has achieved certifications including ISO 9001:2015, ISO 45001:2018, and ISO 14001:2015, demonstrating its commitment to quality management, occupational safety, and environmental protection[115] - The group emphasizes continuous improvement in quality management, occupational safety, and environmental protection, encouraging all employees and subcontractors to enhance performance[118] - The company plans to adopt new constitutional amendments at the upcoming 2023 annual general meeting, reflecting compliance with updated regulations[136] Challenges and Market Conditions - The company faced challenges due to the fifth wave of COVID-19, which caused temporary project suspensions at the beginning of 2022[191] - Most construction sites that were closed resumed operations quickly in the second half of 2022, leading to improved performance[191] - The group has uncompleted projects valued at HKD 25.8 billion, consistent with the end of 2021[156] - The group reported interest-bearing borrowings totaling HKD 313 million, significantly reduced from HKD 810 million in the previous year[159] - The capital debt ratio decreased to 15% as of December 31, 2022, down from 45% as of December 31, 2021[160]
利基控股(00240) - 2022 - 年度财报