Financial Performance - The company's revenue decreased compared to 2021 due to significant adverse factors in the mainland real estate policies and geopolitical uncertainties [13]. - The group's revenue for the year was HKD 682,667,000, a decrease of 20.8% compared to HKD 861,990,000 in 2021 [47]. - Revenue from mainland China decreased by HKD 199,040,000, representing a decline of 34.9% due to adverse market conditions and the depreciation of the RMB [47]. - The comprehensive architectural design segment contributed HKD 533,759,000 in revenue, down 27.4% from the previous year [44]. - The number of new contracts signed was 94, with a total value of approximately HKD 744,758,000, an 18.7% decrease from HKD 915,971,000 in 2021 [44]. - The BIM services segment recorded revenue of HKD 153,500,000, an increase of 12.8% from HKD 136,094,000 in 2021 [45]. - The backlog of contracts as of December 31, 2022, was approximately HKD 1,523,790,000, a decrease of 7.0% from HKD 1,638,905,000 in 2021 [44]. - The gross profit for the year was HKD 108,427,000, a decrease of 33.4% compared to the previous year [49]. - The company reported a loss of HKD 11,136,000 for the year 2022, compared to a profit of HKD 4,505,000 in 2021 [51]. Market Outlook and Strategy - The company anticipates a gradual market recovery in 2023 following the reopening of mainland China in the last quarter of 2022 [16]. - The company is focused on enhancing the stability of its investment returns and improving resilience against market volatility through its investment management subsidiary [16]. - The company is optimistic about future growth despite market challenges, aiming to invest in forward-looking projects [56]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share within the next three years [90]. - A strategic acquisition of a local design firm is anticipated to enhance the company's capabilities and is expected to close by Q3 2023 [90]. Technological Development - The company has been actively seeking potential startups to explore and participate in the digital transformation of the construction industry, which has been accelerated by government policies in Hong Kong and mainland China [15]. - The digital construction market is rapidly expanding, with the company developing its proprietary SaaS product JARVIS to facilitate the digitalization of the entire construction process [33]. - The company is expanding its technological development, particularly in smart home technology in the Middle East and North Africa [19]. - The JARVIS Eagle Eye suite was nominated for the United Nations World Summit Award, recognized as the best digital innovation product in the "Smart Home and Urbanization" category in China [34]. Sustainability and Environmental Initiatives - The company aims to integrate sustainable development principles into its practices, focusing on low-energy or net-zero energy buildings [27]. - The company emphasizes the importance of resilient design to meet China's carbon peak by 2030 and carbon neutrality by 2060 [27]. - The company has implemented the ISO 14001 environmental management system and has been certified since 2018 [113]. - The company actively participates in green initiatives and supports the Hong Kong Green Building Council [113]. - The company aims to minimize waste and encourages employees to reuse, reduce, and recycle certified printed materials [115]. - The company promotes energy-saving measures and has adopted energy-efficient equipment and LED lighting [117]. Employee and Corporate Governance - The company employed approximately 1,130 full-time employees as of December 31, 2022, a decrease from about 1,450 in the previous year [79]. - The overall employee turnover rate for 2022 was relatively low, with 4% for senior management, 22% for middle management, and 74% for general management [136]. - The group emphasizes a "people-oriented" approach, providing competitive compensation and a safe working environment [142]. - The company is committed to employee development, workplace safety, and sustainable growth strategies [181]. - The board consists of nine directors, including six executive directors and three independent non-executive directors [185]. Awards and Recognition - The company received at least 50 international awards and domestic honors, confirming its capability to handle diverse projects across different cultures [17]. - The company ranked 29th in the World Architecture 100 list, maintaining its position among the top architectural firms globally [17]. - LWK + PARTNER was ranked among the top 100 global architectural firms by World Architecture 100 in 2022 and was listed as one of the top ten architectural firms in Hong Kong by BCI Asia [105]. Community Engagement - The company actively supports community empowerment initiatives, including distributing meals and essentials to the underprivileged, with over 20 employees volunteering in outreach services [165]. - The company participated in various educational initiatives, providing practical career experiences for students aged 16 and above through internships and work simulations [168].
思城控股(01486) - 2022 - 年度财报