Business Growth and Opportunities - The company successfully secured more service contracts during the reporting period, contributing to business growth despite challenges from labor shortages and high operational costs[8]. - The company is actively exploring business opportunities in the Greater Bay Area and Southeast Asia[11]. - The company aims to target untapped government departments and private institutions for new tender contracts, leveraging its substantial resources[16]. - The company plans to enhance its service capabilities by investing in vehicles and cleaning equipment to secure more projects[15]. Financial Performance - The company's revenue for the year ended December 31, 2023, decreased by approximately 1.8% to about HKD 948.7 million from HKD 966.3 million in the previous year[19]. - The service cost reduced by approximately 3.0% to about HKD 890.7 million, resulting in a gross profit increase of approximately 21.3% to about HKD 58.0 million[19][26]. - The gross profit margin improved to approximately 6.1% from 5.0% in the previous year[29]. - The profit attributable to shareholders for the reporting period was approximately HKD 14.1 million, down from HKD 20.3 million for the year ended December 31, 2022[33]. - Administrative expenses increased by approximately 8.0% to about HKD 37.3 million, primarily due to legal and professional fees related to various corporate actions[31]. Investments and Future Plans - The company plans to invest in advanced and innovative cleaning machines and equipment to improve service quality and efficiency[9]. - The company plans to enhance its information technology systems to improve operational efficiency, with an allocation of HKD 2.7 million for this purpose[42]. - The company is investing in R&D, allocating $H million towards the development of new technologies and products[54]. - The company is expanding its market presence in regions E and F, aiming to capture a larger share of the market[54]. Corporate Governance and Compliance - The board of directors includes three executive directors and three independent non-executive directors, with changes in appointments noted in May 2023[80]. - The company has established a remuneration committee to review the remuneration policy and structure for all directors and senior management based on the group's operating performance and market practices[96]. - The company has complied with all applicable code provisions of the corporate governance code during the reporting period[107]. - The company has established a risk management framework, with a risk management team that conducts annual assessments of significant risks affecting business objectives[137]. Environmental, Social, and Governance (ESG) Efforts - The company has maintained compliance with environmental protection laws and regulations, emphasizing resource efficiency and waste reduction[68]. - The ESG strategy focuses on pollution prevention, service improvement, and promoting environmental awareness among suppliers and customers[157]. - The company achieved a 7% reduction in absolute greenhouse gas emissions compared to the previous fiscal year[171]. - The company is committed to enhancing workplace health and safety, including measures to address COVID-19 risks[157]. Shareholder and Financial Management - The company does not recommend the payment of a final dividend for the year ended December 31, 2023[20]. - The board will consider various factors, including the company's financial performance and capital expenditure needs, before recommending any dividend distribution[99]. - The company has confirmed that at least 25% of its issued share capital is held by the public as of the report date[100]. - The company has not engaged in the purchase, redemption, or sale of any listed securities during the reporting period[78]. Risk Management and Training - The board is responsible for monitoring the effectiveness of the risk management and internal control systems, which are designed to manage rather than eliminate risks[139]. - The company provides training for directors, with each director receiving at least 15 hours of relevant professional training to update their skills and knowledge[133]. - The company has implemented appropriate liability insurance for its directors and senior officers to cover legal responsibilities arising from company operations[130]. Operational Efficiency and Cost Management - The company aims to enhance operational efficiency and control costs while improving internal monitoring and financial conditions[9]. - The company has implemented cost-saving measures projected to reduce operational expenses by J% over the next year[54]. - The company has established energy-saving principles and green practices in the workplace, including monitoring electricity consumption and maintaining office temperatures between 24 to 26 degrees Celsius during summer[191].
立高控股(08472) - 2023 - 年度财报