Financial Performance - The group's revenue for the year ended December 31, 2022, was approximately MOP 477.1 million, a decline of about 8.8% compared to MOP 523.3 million in the previous year[12]. - The gross profit for the same period was approximately MOP 118.3 million, down about 12.2% from MOP 134.7 million in 2021[12]. - The renovation engineering revenue decreased to approximately MOP 434.9 million, a reduction of about 10.1% year-on-year[5]. - Adjusted earnings for the group reached MOP 42.2 million, representing a growth of 7.3% from MOP 39.4 million in the previous year[6]. - The net profit for the year ended December 31, 2022, was approximately 20.5 million MOP, down about 60.4% from approximately 51.7 million MOP in 2021[25]. - Revenue from renovation projects decreased from approximately 483.9 million MOP in 2021 to approximately 434.9 million MOP in 2022, primarily due to a reduction in awarded contract amounts[18]. - The financial services segment generated revenue of approximately 42.2 million MOP in 2022, compared to approximately 39.4 million MOP in 2021, reflecting a growth of about 7.3%[18]. - The group's total comprehensive income for the year was approximately 21.1 million MOP, a decrease of about 59.1% from approximately 51.6 million MOP in 2021[26]. - As of December 31, 2022, the group's cash and bank balances were approximately 181.0 million MOP, a decrease of about 16.2% from approximately 216.0 million MOP in 2021[27]. - The group's gross profit margin for 2022 was approximately 24.8%, down from 25.7% in 2021[19]. Business Outlook and Strategy - The management anticipates a recovery in renovation business in Macau and Hong Kong, expecting stable income growth in the coming year[9]. - The group aims to become a leading financial institution in the Greater Bay Area, leveraging its various financial licenses for comprehensive services[9]. - The group plans to enhance its organizational structure and accelerate business expansion in 2023[9]. - The management expressed confidence in overcoming economic challenges and achieving new milestones in the upcoming year[9]. - In 2023, the company expects stable revenue growth in the renovation business, driven by increased projects in Macau and Hong Kong as the economy recovers[44]. - The company aims to become a leading financial institution in the Greater Bay Area, leveraging its full range of financial licenses to execute multiple business expansion plans[44]. Corporate Governance - The board is committed to maintaining high standards of corporate governance to protect shareholder interests and enhance corporate value[47]. - The board consists of seven directors, ensuring a balanced composition with rich experience in corporate and strategic planning[49]. - The board of directors held 6 meetings, with all executive directors attending all sessions[58]. - The company has established a board diversity policy to enhance representation across various dimensions, including gender and professional experience[67]. - The company has appointed new independent non-executive directors, enhancing governance and oversight[66]. - The board has three committees: Audit Committee, Remuneration Committee, and Nomination Committee, each with defined responsibilities[73]. - The company encourages continuous professional development for directors to ensure informed contributions to board discussions[65]. - The company has a policy for directors to seek independent professional advice at the company's expense when necessary[58]. - The board aims for gender equality in its composition, with ongoing efforts to maintain diversity[71]. - The company has reviewed its shareholder communication policy and believes it has been effectively implemented[101]. Employee Management - As of December 31, 2022, the group had 78 employees, with total employee costs approximately MOP 29.0 million, up from MOP 27.7 million in the previous year, primarily due to the expansion of financial services[38]. - The employee turnover rate for the reporting period is 112.8%, with a total of 88 employees leaving the company[169]. - The company employs 100% full-time staff, with 14.1% in senior management, 19.2% in middle management, and 66.7% in frontline and other positions[166]. - The company prioritizes compliance with environmental laws and regulations, aiming to minimize significant environmental impacts[149]. - The employee compensation policy includes basic salary, bonuses, and benefits, with annual reviews based on performance[38]. - The company provides training programs for new employees to familiarize them with the work environment and culture, as well as ongoing training to meet strategic goals[38]. - Employee compensation is determined based on competitiveness, experience, skills, and qualifications, with annual performance evaluations conducted[173]. - The company emphasizes equal employment opportunities and strictly adheres to anti-discrimination laws[175]. - The company has established effective communication channels with employees to enhance mutual understanding and trust[174]. Environmental Sustainability - The company has established a climate risk assessment framework, identifying acute and chronic extreme weather risks as medium likelihood and medium impact over the long term[160]. - The company is committed to adapting to climate change and implementing strategies to mitigate potential risks associated with new regulations and standards[157]. - The company has established key performance indicators (KPIs) to measure and compare its performance effectively[107]. - The company has identified five key ESG issues: anti-corruption, labor standards, water management, environmental protection measures, and consumption of other raw materials[126]. - The group aims to reduce overall emissions density by 10% over the next 10 years through various measures[135]. - The group has implemented initiatives to encourage employees to use public transport and reduce business travel, aiming to lower energy consumption[137]. - The group has set annual goals to improve energy efficiency and reduce electricity and energy consumption in its operations[144]. - The group prioritizes the procurement of environmentally friendly materials to minimize carbon emissions and construction waste[140]. - The company has implemented internal policies to reduce resource consumption and minimize business travel[150]. - The company monitors its greenhouse gas emissions and solid waste generation to mitigate environmental impacts[150]. Risk Management - The company engaged an independent consultant to assess the effectiveness and adequacy of its risk management and internal control systems in 2022[90]. - The Board believes that the risk management and internal control systems were sufficient and effective for the year ended December 31, 2022[91]. - The company recognizes climate change as a significant threat, with potential risks including extreme weather events affecting project delivery and operational efficiency[152]. Customer Relations and Data Protection - The company has implemented a comprehensive customer complaint handling mechanism, ensuring timely resolution and communication with clients[198]. - No customer complaints were recorded during the reporting period for completed renovation construction sites[199]. - The company has adopted a full set of security measures to protect customer data, including encryption and strict access management policies[200]. - The company has not received any data protection or privacy-related complaints or lawsuits during the reporting period[200].
恒宇集团(02448) - 2022 - 年度财报