Financial Performance - The group's revenue increased from approximately HKD 440.5 million in the year ended December 31, 2022, to approximately HKD 549.6 million in the year ended December 31, 2023, representing a growth of about HKD 109 million or 24.7%[11]. - The gross profit for the year ended December 31, 2023, was approximately HKD 110 million, with a gross profit margin of 20.0%, compared to approximately HKD 13.9 million and 3.2% for the year ended December 31, 2022[11]. - The net profit attributable to the owners of the company for the year ended December 31, 2023, was approximately HKD 61.5 million, a significant increase from approximately HKD 5.8 million in the previous year[11]. - For the fiscal year ending December 31, 2023, the company reported revenues of HKD 549,554,000, representing a 24.8% increase from HKD 440,528,000 in 2022[18]. - The gross profit for the same period was HKD 110,022,000, a significant increase from HKD 13,927,000 in 2022, indicating a gross margin improvement[18]. - The net profit for the fiscal year was HKD 61,479,000, compared to HKD 5,804,000 in the previous year, reflecting a substantial growth in profitability[18]. Project and Contract Information - The company secured 10 public construction projects and 5 private sector projects during the reporting period, with a total contract value of approximately HKD 518.3 million and approximately HKD 26.6 million respectively[10]. - The total backlog of contracts confirmed as revenue and carried over from 2023 amounted to approximately HKD 1,065.2 million[10]. - The company participated in 39 public sector projects and 6 private sector projects during the reporting period, compared to 43 public sector projects in the previous year[10]. - The company secured 10 public construction projects and 5 private sector projects during the fiscal year, with a total contract value of approximately HKD 518,262,000[23]. - The backlog of contracts as of December 31, 2023, was approximately HKD 1,065,177,000, indicating strong future revenue potential[23]. Dividend and Shareholder Information - The company plans to propose a final dividend of HKD 0.05 per share, amounting to a total dividend payout of HKD 24.4 million, subject to shareholder approval[12]. - The company plans to pay a final dividend of HKD 0.05 per share, totaling HKD 24,390,400, pending shareholder approval[49]. - As of December 31, 2023, the company's distributable reserves amount to approximately HKD 26,710,000[169]. Operational Focus and Strategy - The company aims to focus on developing its tunnel construction services business, which is anticipated to be a key growth driver and a sustainable source of revenue[15]. - The company is exploring opportunities in various construction sectors beyond tunnel engineering to diversify its business[23]. - The demand for tunnel construction services in Hong Kong is expected to continue, driven by major infrastructure projects such as the Central Kowloon Route and the three-runway system at Hong Kong International Airport[15]. - The company is focusing on expanding its tunnel construction services, which are expected to be a major growth driver due to ongoing large infrastructure projects[30]. Governance and Management - The board consists of two executive directors and three independent non-executive directors, ensuring a balanced governance structure[86]. - The company has adopted and complied with the corporate governance code since its listing date, ensuring proper regulation of business activities and decision-making processes[87]. - The company has a dedicated management team responsible for overall project management and resource allocation[81]. - The company has established three committees to oversee specific aspects of governance, ensuring adequate resources and independent professional advice are available[106]. - The board is responsible for overall management and strategic planning, ensuring a balanced assessment of the company's performance and prospects[99]. Financial Position and Assets - Total assets increased to HKD 273,097,000 in 2023, up from HKD 156,946,000 in 2022, marking a 73.9% growth[18]. - The total service costs increased to approximately HKD 439,532,000, up HKD 12,931,000 or 3.0% from HKD 426,601,000 in the previous year[37]. - The administrative expenses rose to approximately HKD 28,013,000, an increase of HKD 2,466,000 or 9.7% from HKD 25,547,000 in the previous year, aligning with the increase in revenue[44]. - Financing costs increased to approximately HKD 3,712,000 from HKD 1,267,000 in the previous year, attributed to higher interest expenses on bank borrowings[45]. - The group had bank borrowings of HKD 66,000,000 as of December 31, 2023[52]. Employee and Workforce Information - The number of employees increased to 662 as of December 31, 2023, from 542 in 2022[65]. - Total employee costs, including service costs and administrative expenses, were approximately HKD 201,096,000 for the year ended December 31, 2023, compared to HKD 246,230,000 in 2022[65]. - The company has established a mandatory provident fund scheme for employees in Hong Kong, with both employer and employee contributions set at 5% of total income, capped at HKD 1,500 per month[182]. Risk Management and Compliance - The board believes that the risk management and internal control systems are adequate and effective during the reporting period[153]. - The company has established a whistleblowing policy allowing stakeholders to report concerns anonymously to the audit committee[154]. - The company has implemented a disclosure policy to ensure compliance with GEM listing rules and securities regulations[153]. - The company has engaged an independent internal control consultant to review the effectiveness of its risk management and internal control systems[153]. Social Responsibility and Sustainability - The company is committed to fulfilling social responsibilities, promoting employee welfare, protecting the environment, and achieving sustainable growth[200].
骏杰集团控股(08188) - 2023 - 年度财报