Financial Performance - The company's revenue increased by approximately 18.4% to about HKD 515.9 million for the year ended March 31, 2022, compared to HKD 435.6 million for the previous year[6]. - Profit attributable to the owners of the company rose from approximately HKD 3.7 million to about HKD 12.1 million for the same period[6]. - Total revenue for the year was approximately HKD 515.9 million, an increase of 18.4% from HKD 435.6 million in the previous year[17]. - Construction engineering revenue decreased to approximately HKD 177.1 million, accounting for 34.3% of total revenue, down from 44.6% the previous year[18]. - Construction machinery leasing revenue increased significantly to approximately HKD 338.9 million, representing 65.7% of total revenue, up from 55.4% the previous year[21]. - Gross profit increased to approximately HKD 33.6 million, with a gross profit margin of 6.5%, up from 5.0% the previous year[22]. - Net profit for the year was approximately HKD 12.1 million, a substantial increase of 224.5% compared to HKD 3.7 million in the previous year[27]. - Other income decreased by approximately 52.8% to HKD 7.5 million, primarily due to the absence of non-recurring government subsidies from the previous year[24]. - Administrative expenses increased by approximately 8.1% to HKD 23.6 million, attributed to higher business volume and insurance costs[25]. Business Development and Strategy - The company secured five new projects and obtained two new contracts from existing projects, totaling approximately HKD 83.4 million[6]. - The company plans to continue focusing on business development through new construction projects and leasing arrangements in Hong Kong[12]. - The Hong Kong government is expected to continue investing in infrastructure as a major economic stimulus measure, which will create more opportunities in the construction industry[10]. - The company will adopt a more cautious approach in bidding for construction projects due to the ongoing uncertainties brought by the COVID-19 pandemic[6]. - The company is focused on upgrading its machinery fleet to maintain competitiveness and attract larger, more profitable projects[43]. Challenges and Risks - The construction industry faces challenges from rising material costs, inflation, and supply chain bottlenecks, which may threaten economic stability[10]. - The board remains optimistic about the long-term development of the construction industry, supported by government initiatives[7]. Environmental and Social Responsibility - The company has adopted new environmentally friendly machinery to comply with regulations and mitigate potential risks associated with environmental and social issues[15]. - The company recognizes the importance of balancing operational development with environmental protection, particularly in reducing greenhouse gas emissions[151]. - Total greenhouse gas emissions decreased from 6,917 tons in 2021 to 4,186 tons in 2022, representing a reduction of approximately 39.5%[154]. - The greenhouse gas emissions intensity improved from 16 tons per million HKD revenue in 2021 to 8 tons per million HKD revenue in 2022, a 50% reduction[154]. - The company has not violated any air and greenhouse gas emission-related laws and regulations[157]. - The company has established wastewater collection pits at construction sites to minimize wastewater pollution[166]. - The company has implemented measures to mitigate the impact of climate change, including regular policy reviews and employee training on greenhouse gas emissions[168]. Employee and Management Practices - The company has 508 employees as of March 31, 2022, with a gender distribution of 93% male (474) and 7% female (34)[170]. - The employee turnover rate for full-time staff is approximately 27%, with a significantly higher turnover rate among part-time employees[171]. - The company provides a full set of personal protective equipment to employees on construction sites to ensure safety[175]. - The company regularly reviews employee benefits to enhance engagement and reduce turnover[171]. - 21% of employees received training, with an average training duration of 1.5 hours per employee[178]. - The company has achieved ISO 45001:2018 certification for its occupational health and safety management system[174]. Corporate Governance - The company emphasizes effective corporate governance practices to enhance shareholder value and protect the interests of stakeholders[108]. - The board consists of five members, including two executive directors and three independent non-executive directors, ensuring a diverse range of business experience and expertise[113]. - The independent non-executive directors bring diverse expertise from various industries, contributing to the board's effectiveness[99][102][103]. - The company has adopted the corporate governance code as per the listing rules and has complied with it throughout the year, except for the deviation regarding the separation of roles between the Chairman and CEO[109]. - The board has adopted a diversity policy, considering factors such as gender, age, and professional experience to enhance performance and sustainable development[116]. Community Engagement - The group plans to continue its commitment to corporate social responsibility by contributing to local community initiatives, including donations to sports and charitable foundations[188]. - The group has expanded its donations to the Flyover Kai Tak Sports Fund Limited and the Jun Wo Charitable Foundation Limited to support community sports development and various charitable activities[188].
进升集团控股(01581) - 2022 - 年度财报