Financial Performance - The company's overall gross profit margin decreased from 19.0% in 2021 to 10.5% in 2022, primarily due to increased costs related to employees and procurement transportation caused by the COVID-19 pandemic[9][18] - The company's net profit margin dropped from 13.9% in 2021 to 6.8% in 2022, mainly due to increased administrative expenses and interest expenses from bank loans[10] - Net current assets of the group amounted to MOP 356.3 million as of December 31, 2022, compared to MOP 386.5 million in the previous fiscal year[24] - The group's equity and capital stood at MOP 483.4 million and MOP 27.4 million respectively as of December 31, 2022, up from MOP 447.5 million and MOP 18.4 million in 2021[25] - The group has utilized MOP 102.8 million of the net proceeds for providing performance guarantees as of the reporting date[30] - The group held MOP 34.4 million in pledged bank deposits as collateral for credit facilities as of December 31, 2022, up from MOP 31.2 million in 2021[31] - The group's outstanding bank borrowings stood at MOP 90.6 million as of December 31, 2022, with unused credit facilities of MOP 187.1 million[52] - The group's capital gearing ratio (total debt divided by total equity) was 18.8% as of December 31, 2022, compared to zero in 2021[52] - The group's net proceeds from the global offering amounted to HK$261.6 million (approximately MOP 269.4 million) after deducting underwriting fees, commissions, and related expenses[54] - The net proceeds from fundraising are expected to be fully utilized by December 31, 2023, due to delays in project approvals and permits since 2018, which resumed normalcy in the second half of 2019[55] Business Segments and Revenue - The steel structure business contributed MOP 616.1 million in revenue, accounting for 45.9% of the total revenue, becoming the second largest revenue source after the construction business[12][16] - The company delivered approximately 93,869 tons of steel materials, including rebar, sheet piles, and galvanized sheets, generating MOP 616.1 million in revenue[12][17] - The company's construction business revenue decreased from MOP 911.9 million in 2021 to MOP 724.6 million in 2022, with the construction and decoration engineering segment contributing MOP 448.2 million, accounting for 33.4% of total revenue[16] - The company's electric vehicle business revenue increased from MOP 75,000 in 2021 to MOP 1.2 million in 2022, but still only accounted for 0.1% of total revenue[16] - The company signed memorandums with GSS Energy Limited and Coastal Contracts Bhd. in February 2023 to expand its electric vehicle business in Southeast Asia[14] - The company plans to install 2,500 to 3,500 charging stations (including 75,000 to 105,000 sets of lithium iron phosphate batteries) in Guangdong Province, involving an investment of approximately RMB 200 million[15] - The company's new production base in Jiangmen, Guangdong Province is expected to be operational in the third quarter of 2023, expanding its business scope to include production and manufacturing[4] - The company secured orders for 183,347 tons of steel materials from April 2022 to August 2024, with a total value of MOP 616.1 million[12] - Capital commitment for the construction of a new production and R&D facility in Jiangmen, Guangdong Province, China amounted to approximately MOP 146.2 million as of December 31, 2022[33] Environmental, Social, and Governance (ESG) - The company is focusing on environmental, social, and governance (ESG) goals, including reducing carbon emissions and improving energy efficiency by 2025[78] - The company has established a three-tier management framework to integrate sustainability into its value chain, overseen by the Board of Directors[76] - The company is closely monitoring compliance with environmental regulations, including noise pollution control and water conservation[82] - The company has identified 14 key ESG themes, including greenhouse gas emissions, waste management, and employee development, aligning with stakeholder concerns and industry trends[81] - The company is committed to enhancing stakeholder engagement and creating value for the broader community through its products and services[79] - The company's ESG report has been reviewed by the ESG working group and approved by the Board of Directors, ensuring compliance with reporting guidelines[81] - Direct Scope 1 greenhouse gas emissions decreased to 38.71 tons of CO2 equivalent in 2022 from 45.44 tons in 2021[85] - Direct Scope 1 greenhouse gas emission intensity improved to 0.00003 tons of CO2 equivalent per thousand MOP of revenue in 2022 from 0.00005 in 2021[85] - Indirect Scope 2 greenhouse gas emissions slightly decreased to 23.93 tons of CO2 equivalent in 2022 from 24.44 tons in 2021[85] - Indirect Scope 2 greenhouse gas emission intensity improved to 0.00002 tons of CO2 equivalent per thousand MOP of revenue in 2022 from 0.00003 in 2021[85] - The company's greenhouse gas emissions mainly come from vehicle usage and office electricity consumption[106] - The company implemented dust control measures including covering construction materials, water spraying, and weekly dust inspections[106] - The company encourages subcontractors to use low-sulfur diesel vehicles and conducts regular inspections to ensure compliance with emission standards[106] - The company is transitioning to a paperless work environment through digital operations and encourages double-sided printing and recycled paper usage[109] - The company strictly controls potential hazardous waste from subcontractors and conducts regular pH tests on wastewater[110] - Electricity consumption increased due to the conversion of warehouses into temporary staff dormitories during COVID-19 restrictions[110] - Gasoline consumption decreased to 16,401 liters in 2022 from 19,252 liters in 2021, with gasoline intensity dropping to 0.0123 liters per thousand MOP revenue from 0.0211 liters[130] - Electricity consumption increased to 38,589 kWh in 2022 from 29,802 kWh in 2021, while electricity intensity decreased to 0.0290 kWh per thousand MOP revenue from 0.0327 kWh[130] - Paper waste reduced to 3.41 tons in 2022 from 4.25 tons in 2021[129] - Nitrogen oxide emissions increased slightly to 97.48 kg in 2022 from 95.80 kg in 2021, while sulfur dioxide emissions decreased to 0.24 kg from 0.28 kg[125] - The company promotes the use of energy-efficient appliances, such as LED lighting systems with a Grade 1 energy label[112] - The company has implemented an ISO 14001:2015 certified environmental management system to minimize environmental impact[116] - The company encourages subcontractors to adopt energy-saving policies and use energy-efficient equipment[113] - The company actively monitors subcontractors' environmental performance and conducts carbon emission reviews and environmental impact assessments[126] - The company avoids using ozone-depleting refrigerants like HCFC and promotes the use of environmentally friendly alternatives[128] - The company has implemented energy-saving and water-saving systems, such as energy-efficient motors and multi-speed fans for ventilation systems, water-cooled heat dissipation systems, and condensate collection systems, contributing to global climate change mitigation efforts[132] - The company has established a comprehensive environmental management system, conducting regular environmental assessments to identify potential risks and ensure compliance with legal requirements and contractual obligations[135] - The company has adopted a forward-looking management approach to assess climate change risks and has developed emergency response plans to mitigate the impact of climate-related hazards on its products, services, and operations[136] Human Resources and Employee Management - The group had 281 employees as of December 31, 2022, including 104 Macau residents and 177 non-Macau residents, compared to 295 employees in 2021[34] - In 2022, women accounted for 20% of the board members, 25% of senior management, and 16% of the total workforce, with the company aiming to maintain or increase the current level of female representation[139] - The company has 281 employees, with 235 males and 46 females, and a turnover rate of 38% for males and 15% for females[143] - The company has established a structured recruitment and termination process, ensuring fair evaluation based on interview performance, relevant experience, and academic and professional qualifications[152] - The company has implemented a comprehensive performance evaluation mechanism to determine promotions and compensation based on employees' goal achievement, strengths, and development opportunities[153] - The average training hours completed per employee were 25.7 hours for males and 27.0 hours for females[173] - The company sponsors academic awards and scholarships for 10 outstanding graduates annually, providing MOP 10,000 per recipient[168] - The company collaborated with the University of Macau to develop an intelligent crawling robot platform aimed at improving window cleaning efficiency and safety[169] - The company maintains a certified Occupational Health and Safety Management System under OHSAS 18001:2007[157] - The company has no record of employee fatalities due to work-related incidents in the past three years[160] - The company provides personal protective equipment to construction workers to minimize the risk of workplace injuries and occupational diseases[158] - The company recorded 92 days of lost workdays due to workplace injuries in 2022[160] Corporate Governance and Compliance - The company has no significant contingent liabilities as of December 31, 2022 (2021: none)[56] - The company strictly adheres to local laws and regulations regarding personal data protection and intellectual property rights[178] - No serious violations of service quality or data privacy laws and regulations in Macau were reported during the year[179] - The company maintains a zero-tolerance policy towards bribery, extortion, fraud, and money laundering, with an internal control system to monitor key business activities[181] - Employees are prohibited from having financial or personal interests in transactions between the company and its business partners to prevent conflicts of interest[182] - The company actively engages in community work and encourages employee participation in volunteer services to support underprivileged groups[183] - The company’s Chairman, Mr. Kwok, has over 40 years of experience in the construction industry and founded Hung Yip Engineering in 2000[185] - The company’s CFO and Company Secretary, Ms. Tam, has over 19 years of experience in accounting and auditing, joining the company in 2017[192] - The company’s Board of Directors is committed to maintaining good corporate governance practices to protect shareholder interests and enhance transparency[195] - The board is responsible for overseeing and monitoring the management of business matters and the overall performance of the group[200] - The board has established three committees to oversee various aspects of the company: the Audit Committee, the Nomination Committee, and the Remuneration Committee[200] - The board is responsible for formulating, reviewing, and monitoring the corporate governance policies and practices of the company[199] - The board reviews and monitors the training and continuous professional development of directors and senior management[199] - The board reviews and monitors the company's policies and practices in compliance with laws and regulatory requirements[199] - The board formulates, reviews, and monitors the code of conduct and compliance manuals for employees and directors[199] - The board reviews the company's compliance with the Corporate Governance Code and the relevant disclosures in the annual report[199] - The board is responsible for making all major financial and operational decisions[200] - The board formulates, monitors, and reviews the corporate governance of the group[200] - The board handles shareholder concerns at the general meeting[200] Supply Chain and Quality Management - The company has 85 subcontractors and 47 suppliers in Macau, 4 subcontractors and 20 suppliers in Hong Kong, and 1 subcontractor and 29 suppliers in Mainland China[176] - The company requires all suppliers and subcontractors to operate in an environmentally responsible manner to reduce pollution and waste[162] - The company has implemented strict quality control measures for suppliers and subcontractors, including regular on-site inspections[175] - The company has established a quality management system certified by ISO 9001:2015 to ensure service quality and compliance with relevant standards and regulations[178] - No complaints related to product or service safety and health issues were received during the year[178] Electric Vehicle and Charging Infrastructure - The company's lithium iron phosphate sheet batteries have passed comprehensive safety tests and are fully insured by a renowned Chinese insurance company, with discharge capacity exceeding 90% at -20°C compared to 70% for standard batteries[37] - China's new energy passenger vehicle retail sales reached 5.674 million units in 2022, a year-on-year increase of 90.0%, with projected sales of 8.5 million units in 2023 and a penetration rate of 36%[60] - The company has strategically developed electric vehicle charging infrastructure in the Greater Bay Area, positioning itself to benefit from the explosive growth in demand for charging stations[60] - The company has expanded its electric vehicle charging infrastructure in Macau and Guangdong Province, including the installation of charging cabinets with lithium iron phosphate batteries, primarily serving delivery riders[149]
澳能建设(01183) - 2022 - 年度财报