Company Overview - The group reported audited annual results for the year ended December 31, 2021[34]. - The company is listed under stock code 2266 on the Hong Kong Stock Exchange[7]. - The company has a registered office in Grand Cayman, Cayman Islands[5]. - The major banks associated with the company include Bank of China Macau Branch and Macau International Bank[7]. - The company has established a headquarters in Macau and a primary business location in Hong Kong[5]. - The board of directors includes executive directors and independent non-executive directors, ensuring corporate governance[5]. - The company is involved in various subsidiaries, including Lai Si Construction and Lai Si Mechanical Engineering[32]. Financial Performance - The company's revenue decreased by approximately MOP 16.4 million or 10.2% to about MOP 144.1 million for the year ended December 31, 2021, compared to MOP 160.5 million in the previous year[36]. - The company recorded a post-tax loss of approximately MOP 20.7 million, a decrease of 74.3% compared to the previous fiscal year[36]. - The total value of newly awarded renovation projects was approximately MOP 77.4 million, down from MOP 168.1 million in the previous year[43]. - The company’s renovation engineering revenue was MOP 131.5 million, accounting for 91.3% of total revenue, a decrease of MOP 21.0 million or 13.8% from the previous year[46]. - The construction engineering revenue increased to MOP 8.9 million, a significant increase of MOP 7.8 million or 7.1 times compared to the previous year[46]. - The group's renovation engineering revenue for the year ended December 31, 2021, was MOP 131.5 million, a decrease of MOP 21.3 million or 25.4% compared to MOP 152.5 million in 2020[47]. - The gross profit for the group increased by MOP 6.3 million or 34.4% to MOP 24.6 million for the year ended December 31, 2021, compared to MOP 18.3 million in 2020[51]. - The gross profit margin improved from 11.4% in 2020 to 17.1% in 2021, primarily due to an increase in the gross profit margin of renovation engineering[52]. - The group reported a net loss attributable to shareholders of MOP 20.7 million for the year ended December 31, 2021, compared to a loss of MOP 80.6 million in 2020[59]. - Basic loss per share for the year ended December 31, 2021, was MOP 5.2 cents, a decrease of MOP 14.9 cents or 74.1% from MOP 20.1 cents in 2020[60]. - Administrative expenses decreased by MOP 7.9 million or 21.3% to MOP 28.7 million for the year ended December 31, 2021, due to cost control measures[56]. - Financing costs decreased by MOP 0.6 million or 31.6% to MOP 1.3 million for the year ended December 31, 2021, attributed to a decline in bank loan interest rates[57]. - Other income and losses resulted in a net loss of MOP 15.6 million for the year ended December 31, 2021, an improvement from a net loss of MOP 61.6 million in 2020[53]. Project and Business Focus - The company completed 25 projects and was awarded 23 projects during the fiscal year ending December 31, 2021[36]. - The company plans to focus on local government projects and aims to partner with large contractors for future opportunities[37]. - The company has terminated its restaurant business to consolidate resources and focus on its core renovation and construction services[36]. - The total value of unfinished renovation and construction projects as of December 31, 2021, was approximately MOP 36.9 million, down from MOP 82.5 million the previous year[43]. Governance and Compliance - The company emphasizes compliance with the Listing Rules and corporate governance codes[32]. - The company has a remuneration committee and an audit committee to oversee financial reporting and executive compensation[5]. - The company reported a commitment to high standards of corporate governance, adhering to all principles and code provisions of the corporate governance code for the year ended December 31, 2021[102]. - The board of directors consists of 8 members, including 3 independent non-executive directors, ensuring compliance with listing rules[116]. - The board held a total of 5 meetings during the year, with all directors attending 100% of the meetings[114]. - The company has established three committees: the audit committee, remuneration committee, and nomination committee to oversee specific aspects of governance[128]. - The audit committee held three meetings during the year ended December 31, 2021, to review interim and annual financial performance and reports[129]. - The remuneration committee reviewed and recommended salary adjustments for executive directors due to the impact of COVID-19[133]. - The company has appropriate insurance arrangements for directors and senior management against legal claims arising from company operations[120]. Risk Management - The company has implemented a robust internal control and risk management system to monitor operational and financial performance[119]. - The board is responsible for maintaining an effective risk management system and internal control system to protect the group's assets and shareholder interests[149]. - The company has established risk management procedures to identify, assess, and manage significant risks and address major internal control deficiencies[154]. - The audit committee is responsible for continuously monitoring the effectiveness of the group's risk management and internal control systems[150]. - The company has adopted an "Insider Information Disclosure Policy" to ensure accurate and timely information dissemination regarding its business and financial status[156]. Shareholder Communication - The company maintains effective communication with shareholders, particularly through annual general meetings and its website[173]. - The company has established a shareholder communication policy to ensure that shareholder concerns are properly addressed[174]. - The company has not set a predetermined dividend payout ratio, allowing the board to propose dividends based on financial conditions[174]. Future Outlook - The company expects gradual recovery in the global economy and construction market as the impact of the COVID-19 pandemic diminishes[39]. - The group plans to utilize the net proceeds from the share offering for various projects, including MOP 49.4 million for renovation projects in Macau and MOP 17.9 million for construction projects in Macau, both expected to be completed by the end of 2022[94]. - The group aims to expand its operations by developing hotel businesses and establishing partnerships with major contractors for upcoming public construction projects in Macau[99]. - The group plans to leverage the development policies of the Greater Bay Area to expand its market presence in mainland China[99]. Employee and Operational Metrics - The total employee cost for the year ended December 31, 2021, was MOP 44.2 million, a decrease from MOP 48.5 million in 2020[87]. - The total number of full-time employees as of December 31, 2021, was 146, down from 153 in 2020[87]. Environmental, Social, and Governance (ESG) - The ESG report for the year ending December 31, 2021, will be published separately and available on the company's website[175]. - The company has established safety, quality, and environmental management systems to meet customer requirements in these areas, enhancing its public image and customer confidence[200]. - The company has obtained ISO 9001 and ISO 14001 certifications to improve its reputation and compliance with safety, quality, and environmental standards[200].
黎氏企业(02266) - 2021 - 年度财报