Financial Performance - Total revenue for the year ended March 31, 2023, decreased by approximately HKD 126.1 million or 21.0% to about HKD 474.8 million compared to HKD 600.9 million for the year ended March 31, 2022[11]. - Gross profit increased by approximately HKD 6.8 million or 80% to about HKD 15.3 million for the year ended March 31, 2023, due to stabilized market supply and reasonable pricing of timber and steel[11]. - The company recorded a profit attributable to equity shareholders of approximately HKD 11.9 million for the year ended March 31, 2023, compared to a loss of approximately HKD 12.5 million for the year ended March 31, 2022[11]. - Revenue from private sector projects was approximately HKD 405.5 million, accounting for about 85.4% of total revenue, while public sector projects contributed approximately HKD 69.3 million, or 14.6%[18]. - The number of customers contributing to total revenue decreased from 18 in the previous year to 12 in the current year, with total revenue from these customers being approximately HKD 474.8 million[23]. - Basic earnings per share for the year ended March 31, 2023, were approximately HKD 0.79, compared to a basic loss per share of approximately HKD 0.83 for the previous year[21]. - For the year ended March 31, 2023, the group's revenue was approximately HKD 474,768,000, a decrease of about 21% from HKD 600,863,000 for the same period in 2022, attributed to a reduction in the number of projects recognized and delays due to site conditions[27]. - The number of projects recognized in 2023 was 29, down from 50 in 2022, with significant decreases in the number of projects in lower revenue brackets[29]. - Other income surged by approximately 392.5% to about HKD 20,624,000, primarily due to subsidies received from the Hong Kong government's employment support scheme[35]. Business Strategy and Challenges - The company anticipates continued challenges in the template engineering industry due to increased market competition and rising costs of experienced labor and materials[13]. - The company plans to diversify its business scope and client base to mitigate market risks and maintain long-term growth in profitability[13]. - The company will continue to adopt prudent capital management and liquidity risk management to maintain sufficient buffers against future challenges[13]. Cash and Capital Management - As of March 31, 2023, the group had cash and cash equivalents of approximately HKD 150,451,000, an increase from HKD 136,421,000 in 2022[42]. - The capital debt ratio improved to approximately 91.1% as of March 31, 2023, down from 97.1% in 2022[42]. - The group did not engage in any significant acquisitions or disposals of subsidiaries, associates, or joint ventures during the year[45]. - The group has off-balance sheet capital commitments of approximately HKD 9,322,000 related to the acquisition of properties, machinery, and equipment[46]. - The net proceeds from the initial public offering (IPO) amounted to approximately HKD 75.0 million, which has been fully utilized by March 31, 2023[63]. - The company allocated HKD 32.8 million for the purchase of additional machinery and equipment, HKD 21.3 million for aluminum formwork systems, and HKD 9.6 million for human resources investment, all fully utilized by March 31, 2023[65]. Corporate Governance - The company has adopted the corporate governance code as per the listing rules, ensuring high standards of corporate governance to protect shareholder interests[87]. - As of March 31, 2023, the board believes the company has complied with the applicable code provisions of the corporate governance code[88]. - The company has implemented a standard code for securities trading to ensure compliance among directors and employees regarding insider information[89]. - The board consists of four executive directors and three independent non-executive directors, ensuring a high level of independence for effective decision-making[94]. - The attendance rate for the board meetings was 100% for all executive directors, with a total of 5 meetings held during the year ending March 31, 2023[100]. - The audit committee, established on May 23, 2017, is currently composed of three independent non-executive directors, ensuring compliance with listing rules[108]. - The company has adhered to the corporate governance code, with all independent non-executive directors confirming their independence[97]. - The board is responsible for setting the overall strategy and approving annual development plans and budgets, as well as monitoring financial and operational performance[103]. - The company has implemented a continuous professional development plan for all directors to enhance their knowledge and skills[106]. - The independent non-executive directors have entered into service contracts without fixed terms, ensuring flexibility in their roles[95]. - The company has established a clear distinction between the roles of the chairman and the CEO to comply with corporate governance standards[105]. - The board regularly reviews its delegated authority to ensure it meets the group's needs[104]. - The company has arranged liability insurance for its directors and senior management to protect their interests[99]. ESG and Sustainability - The report covers the period from April 1, 2022, to March 31, 2023, detailing the group's environmental, social, and governance (ESG) activities, challenges faced, and future plans[157]. - The group aims to provide high-quality products and services while creating long-term sustainable value for shareholders and stakeholders[156]. - The group has identified significant ESG issues through stakeholder surveys, focusing on areas such as occupational health and safety, waste management, and climate change mitigation[172]. - The ESG working group collects and analyzes ESG data, monitors performance, and ensures compliance with relevant laws and regulations[158]. - The board is responsible for overseeing the potential impacts and risks related to ESG matters in the group's operations[158]. - The group is committed to improving overall ESG performance through regular assessments and appropriate solutions[158]. - The electronic version of the report is available on the Hong Kong Stock Exchange's website and the group's website for stakeholders[165]. Environmental Performance - Total nitrogen oxides emissions decreased from 740.54 kg in 2022 to 562.06 kg in 2023, representing a reduction of approximately 24.1%[175]. - Total sulfur oxides emissions decreased from 0.74 kg in 2022 to 0.59 kg in 2023, representing a reduction of approximately 20.3%[175]. - Total particulate matter emissions decreased from 53.25 kg in 2022 to 40.42 kg in 2023, representing a reduction of approximately 24.0%[175]. - Direct greenhouse gas emissions (Scope 1) decreased from 176.86 tons CO2 equivalent in 2022 to 96.58 tons CO2 equivalent in 2023, representing a reduction of approximately 45.5%[177]. - Indirect greenhouse gas emissions (Scope 2) decreased from 42.93 tons CO2 equivalent in 2022 to 13.58 tons CO2 equivalent in 2023, representing a reduction of approximately 68.4%[177]. - Total greenhouse gas emissions decreased from 219.79 tons CO2 equivalent in 2022 to 117.05 tons CO2 equivalent in 2023, representing a reduction of approximately 46.8%[177]. - The total density of greenhouse gas emissions per project improved from 4.40 tons CO2 equivalent in 2022 to 4.04 tons CO2 equivalent in 2023[177]. - The total hazardous waste generated in 2023 was 14.52 kg, with a density of 0.50 kg per project[186]. - The total non-hazardous waste generated in 2023 was 4,334.37 tons, with a density of 149.46 tons per project[186]. - Total direct energy consumption decreased from 717,780.34 kWh in 2022 to 391,717.12 kWh in 2023, a reduction of approximately 45.5%[189]. - Total indirect energy consumption also decreased from 110,077.00 kWh in 2022 to 34,833.00 kWh in 2023, a reduction of about 68.3%[189]. - Overall total energy consumption fell from 827,857.34 kWh in 2022 to 426,550.12 kWh in 2023, representing a decrease of approximately 48.5%[189]. - Total water consumption decreased from 247.74 cubic meters in 2022 to 171.00 cubic meters in 2023, a reduction of about 30.9%[190]. Workforce and Employment - The total number of employees decreased from 941 in 2022 to 883 in 2023, a decline of approximately 6.2%[199]. - The number of female employees decreased from 87 in 2022 to 41 in 2023, a reduction of about 52.9%[200]. - The number of employees aged 50 and above decreased from 341 in 2022 to 300 in 2023, a decline of approximately 12.0%[200].
建成控股(01630) - 2023 - 年度财报