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明梁控股(08152) - 2023 - 年度财报
M&L HOLDINGSM&L HOLDINGS(HK:08152)2024-04-23 08:58

Financial Performance - The group achieved a turnaround from loss to profit in the fiscal year ending December 31, 2023, driven by increased demand for tunnel boring machine-related solutions[8]. - Revenue increased by approximately HKD 66.7 million or 76.6% to about HKD 153.7 million for the year ended December 31, 2023, compared to approximately HKD 87.0 million in the previous year[16]. - Gross profit rose by HKD 26.2 million to HKD 55.5 million, with gross margin improving from 33.6% in the previous year to 36.1%[17]. - The company reported a profit attributable to equity holders of approximately HKD 6.9 million, compared to a loss of HKD 8.5 million in the previous year[26]. Market Performance - Revenue from the Hong Kong market increased by approximately HKD 12.1 million or 20.1%, attributed to a rebound in construction activities and a large tunnel project[12]. - Sales in the Chinese market improved significantly, with an increase of approximately HKD 15.3 million or 113.4%, following the lifting of travel restrictions[13]. - Sales in the Asia-Pacific market increased by approximately HKD 7.7 million or 98.8%, while sales to other overseas countries surged by approximately HKD 31.7 million, exceeding five times the previous year[15]. Operational Challenges - The group noted that the operating environment in the foundation construction sector remains challenging due to uncertainties in the real estate market[8]. - The group remains cautious in negotiations with Chinese clients, focusing on projects with favorable profit margins and settlement terms[13]. Strategic Plans - The group plans to closely monitor potential opportunities related to major infrastructure projects in Hong Kong, including the "Railway Development Strategy" and "Northern Metropolis" initiatives[12]. - The group will continue to develop engineering solutions to enhance competitiveness and customer base while avoiding excessive competition[8]. - The group will prudently assess logistics arrangements and negotiate with clients to minimize costs and liabilities associated with overseas sales[15]. Financial Position - Current assets as of December 31, 2023, were approximately HKD 139.5 million, while current liabilities were approximately HKD 68.2 million, resulting in a current ratio of 2.05[27]. - The net capital debt ratio as of December 31, 2023, was 4.7%, down from 11.7% in the previous year[31]. - The total available bank and other financing amounted to approximately HKD 35.1 million, with HKD 28.1 million utilized and HKD 7.0 million available[29]. Employee and Management - The total employee cost was approximately HKD 15.1 million, a slight decrease from HKD 15.4 million in 2022[43]. - The total number of employees decreased from 44 in 2022 to 43 in 2023, with a notable reduction in the sales and engineering solutions department from 10 to 8 employees[43]. - The company encourages continuous professional development for all directors to ensure informed decision-making[68]. Governance and Compliance - The company has established four committees to oversee various aspects of its operations, including audit, remuneration, nomination, and corporate governance[72]. - The audit committee, chaired by Mr. Dai Weiguo, reviewed the financial statements and internal control systems for the year 2023[75]. - The company has established an effective risk management and internal control system, with an external independent consultant conducting a review in 2023[82]. Environmental, Social, and Governance (ESG) - The company aims to peak emissions by 2030 and achieve net-zero emissions by 2060, aligning its environmental goals with national targets[149]. - Total nitrogen oxides emissions decreased by 58% from 45,234 grams in 2022 to 19,165 grams in 2023[156]. - The company has implemented strict compliance with environmental laws in Hong Kong, China, Singapore, and Australia, with no known violations reported[150]. Supplier Relations - The company maintains a strong relationship with suppliers, emphasizing the importance of stable and sustainable partnerships for quality product supply[45]. - The supplier evaluation form assesses suppliers' past performance from various dimensions[199]. - The company plans to incorporate sustainability considerations into procurement practices moving forward[199].