Corporate Governance - The company has received annual independent confirmation from all independent non-executive directors, affirming their independence [2]. - The major shareholders, Mr. Tang and Mr. Lau, each hold 465,000,000 shares, representing 75% ownership [4]. - There were no related party transactions or ongoing related party transactions that required disclosure under the listing rules for the year ended March 31, 2023 [9]. - The company maintains the minimum public float required by listing rules as of March 31, 2023 [21]. - The audit committee has reviewed and approved the audited consolidated financial statements for the year ended March 31, 2023, ensuring compliance with applicable accounting standards and regulations [31]. - The company has adopted a board diversity policy to enhance board efficiency since April 4, 2019 [43]. - As of March 31, 2023, 80.0% of the board members and approximately 76.9% of the total employees are male, indicating a need for improved gender diversity [44]. - The audit committee held three meetings during the fiscal year ending March 31, 2023 [51]. - The company has maintained compliance with the corporate governance code as of March 31, 2023 [63]. - Deloitte Touche Tohmatsu has served as the group's auditor and will be proposed for reappointment at the upcoming annual general meeting [61]. - The company has established a nomination policy to ensure the board possesses the necessary skills, experience, and diversity [45]. - No directors have waived or agreed to waive any remuneration as of March 31, 2023 [57]. - The board is responsible for overseeing all significant matters, including policy formulation and risk management [41]. - The company has established an audit committee in compliance with the listing rules since April 4, 2019 [60]. - The board maintained compliance with listing rules, ensuring at least three independent non-executive directors, all possessing appropriate professional qualifications or expertise in accounting or related financial management [67]. - The company emphasizes the importance of continuous professional development for directors to maintain effective corporate governance and internal control systems [77]. - The board concluded that the group's risk management and internal control systems were effectively implemented [88]. - The audit committee is responsible for reviewing the effectiveness of the company's internal audit activities, internal controls, and risk management systems [79]. - The company has three independent non-executive directors, all of whom are considered independent as of March 31, 2023 [84]. - The company secretary's details are included in the report, ensuring transparency in governance [89]. - The board is responsible for maintaining sufficient resources, employee qualifications, and training programs related to financial reporting functions [88]. Environmental Management - The company has implemented an environmental management system and has been certified to ISO 14001:2015 standards since November 2003 and September 2012 for different operations [19]. - The group has established an integrated management system to minimize and prevent environmental impacts from its operations, products, and services [120]. - The group is committed to continuous improvement in its environmental performance to reduce pollution and environmental impact [120]. - The group has identified 24 key issues for materiality assessment, focusing on operational practices, community investment, and environmental protection [118]. - The board is responsible for the group's environmental, social, and governance (ESG) strategies and reporting [107]. - The company aims to reduce emissions from contract engineering operations by using cleaner fuels and low-emission engines, maintaining emissions at reasonable levels [123]. - The greenhouse gas emission factor for electricity purchased from China Power is 0.3900 kg/kWh, as referenced in the 2022 sustainability report [125]. - In 2023, nitrogen oxide emissions from vehicles were 145,003.87 grams, a decrease from 158,517.58 grams in 2022, representing a reduction of approximately 8.97% [139]. - Sulfur oxide emissions increased slightly to 389.52 grams in 2023 from 365.98 grams in 2022, indicating a rise of about 6.5% [139]. - Particulate matter emissions decreased to 10,334.90 grams in 2023 from 11,903.51 grams in 2022, reflecting a reduction of approximately 13.2% [139]. - The company has prioritized electric and environmentally friendly vehicles over diesel vehicles when purchasing new machinery [123]. - As of March 31, 2023, all 10 regulated machines owned by the company have received exemptions or approvals from the Environmental Protection Department [137]. - Approximately 39% of key issues identified by stakeholders relate to employment and labor practices, while about 22% pertain to operational practices [132]. - The company has not recorded any non-compliance incidents related to environmental issues during the reporting period [135]. - The company is committed to maintaining compliance with various environmental regulations, including the Air Pollution Control Ordinance and Waste Disposal Ordinance [135]. - The group generated approximately 2,300.60 tons of non-hazardous waste during the reporting period, a decrease from 2,380.50 tons in 2022 [141]. - The group aims to reduce energy consumption through on-site monitoring and has implemented measures to encourage employees to turn off unnecessary electrical appliances [143]. - The group reported a total water consumption of 10,487.00 cubic meters for projects, significantly up from 3,008.00 cubic meters in 2022, indicating a density of 5,243.50 cubic meters per project [150]. - Direct emissions from mobile combustion sources amounted to 69.30 tons, an increase from 64.44 tons in the previous year [166]. - The group has obtained a permit from the Environmental Protection Department to discharge industrial wastewater from construction sites in compliance with regulations [144]. - The group has committed to recycling and reusing materials in all new projects to minimize waste generation [141]. - The group utilized energy-efficient appliances and equipment to enhance resource efficiency [145]. - The group has set a goal to maintain reasonable levels of energy consumption while improving construction methods [143]. - The group reported a significant increase in waste sent to public fill reception facilities, from 1,182.90 tons in 2022 to 745.40 tons in the current year [142]. - The group has implemented measures to manage noise pollution during construction activities, including obtaining necessary permits for construction noise [154]. Employee Management and Training - The company employed 52 full-time employees as of March 31, 2023, down from 57 in 2022, with a turnover rate of 26% compared to 19% in the previous year [182]. - The company has established a safety management system certified to OHSAS 18001:2007 standards to ensure a safe working environment for employees and subcontractors [184]. - The company provided various training courses covering safety, emergency procedures, and equipment operation to its employees and subcontractors during the reporting period [187]. - The company is committed to collaborating with suppliers and subcontractors that share similar values and adhere to high ethical standards in business practices [190]. - The company has taken measures to reduce environmental impacts from dust and noise pollution during operations, including the use of water spraying and vehicle cleaning [176]. - The company aims to explore more water-saving measures, such as using high-pressure low-flow nozzles for cleaning [170]. - The company has developed emergency plans to address acute weather events and is closely monitoring weather forecasts to ensure adequate preparation [180]. - The group regularly evaluates suppliers and subcontractors based on price performance, delivery timeliness, order fulfillment, and material quality [191]. Financial Management - The group has recognized deferred tax assets only when there is sufficient taxable profit available to offset the temporary differences, and these assets will be reviewed and reduced if there is no longer sufficient taxable profit to recover them [93]. - Deferred tax assets and liabilities are measured based on the tax rates expected to apply during the period when the assets are realized or the liabilities are settled [93]. - The group assesses the recoverability of deferred tax assets and liabilities based on the expected manner of recovery or settlement at the reporting date [93]. - The group has confirmed that any government grants will be recognized in profit or loss when it is reasonably assured that the conditions attached to the grants will be met [111]. - The company will review its dividend policy periodically and may update it as deemed appropriate and necessary [75]. - The quality management system has been certified to meet ISO 9001 standards, ensuring compliance with customer specifications and requirements [193]. - The group emphasizes the importance of intellectual property protection and adheres strictly to applicable laws and regulations in Hong Kong [198]. - All employees are required to maintain high ethical standards, with a strict prohibition on any form of corruption, bribery, and fraud [200].
B & D STRATEGIC(01780) - 2023 - 年度财报