Financial Performance - For the fiscal year ending December 31, 2023, the group's revenue was approximately HKD 110.0 million, an increase from HKD 106.2 million in 2022[11]. - The group recorded a gross loss of approximately HKD 16.6 million for the fiscal year ending December 31, 2023, compared to a gross profit of HKD 9.8 million in 2022[12]. - The gross loss margin for the fiscal year ending December 31, 2023, was 15.1%, while the gross profit margin for the previous year was 9.3%[13]. - Other income and net gains for the fiscal year ending December 31, 2023, were approximately HKD 2.9 million, down from HKD 4.2 million in 2022[14]. - The total comprehensive loss for the year ended December 31, 2023, was approximately HKD 29.4 million, an increase from HKD 7.4 million in 2022, primarily due to increased construction costs from customer-requested remediation works[19]. - The net loss margin for the year was approximately 26.7%, compared to 7.0% in 2022[20]. - Administrative expenses decreased from approximately HKD 12.0 million in 2022 to approximately HKD 9.3 million in 2023, representing a reduction of about 22.4%[15]. - Financing costs increased from approximately HKD 14,000 in 2022 to approximately HKD 53,000 in 2023 due to bank borrowings of HKD 4.0 million[16]. - Income tax expenses decreased from approximately HKD 4.5 million in 2022 to approximately HKD 1.6 million in 2023[17]. Project and Contract Updates - The group secured contracts for the Siu Lam Rehabilitation Services Building project valued at HKD 55 million and the Pok Fu Lam residential project valued at HKD 150 million[6]. - As of December 31, 2023, the group had 7 projects on hand with a total original contract value of approximately HKD 545.4 million, up from HKD 519.2 million a year earlier[6]. - The group plans to acquire a company engaged in RMAA contracting services and construction material distribution in Hong Kong to enhance its operational capabilities[8]. Assets and Liabilities - As of December 31, 2023, the group's current assets were approximately HKD 125.3 million, down from HKD 154.4 million in 2022[21]. - The group obtained bank loans of HKD 4.0 million as of December 31, 2023, with no outstanding bank loans as of December 31, 2022[22][23]. - The capital debt ratio as of December 31, 2023, was 2.7%, compared to zero as of December 31, 2022[24]. - The group incurred capital expenditures of approximately HKD 0.3 million for the year ended December 31, 2023, down from HKD 0.4 million in 2022[29]. Shareholder and Governance Information - The total amount raised from the IPO was HKD 140 million, with a net amount of approximately HKD 90.7 million after deducting underwriting commissions and related expenses[37]. - As of December 31, 2023, the group had utilized HKD 87.7 million of the net proceeds from the IPO, leaving HKD 3.0 million unutilized[37]. - The company has adopted the corporate governance code as per the listing rules, ensuring high standards of governance and business practices[56]. - The board consists of one executive director and three independent non-executive directors, maintaining a high level of independence[60]. - The company held four board meetings in the year ending December 31, 2023, with all directors present at each meeting[63]. - The company has established a three-year service contract for the executive director, automatically renewing unless terminated with three months' notice[66]. - All independent non-executive directors have confirmed their independence according to the listing rules, ensuring compliance with independence guidelines[63]. Environmental and Social Responsibility - The company emphasizes environmental sustainability in its operations as a contractor specializing in RMAA engineering[115]. - The company has established an environmental, social, and governance (ESG) working group to support the board in implementing ESG strategies and objectives[177]. - Total greenhouse gas emissions decreased from 18 tons in 2022 to 11 tons in 2023, representing a reduction of approximately 39%[189]. - The density of greenhouse gas emissions per thousand HKD revenue improved from 0.000170 tons in 2022 to 0.000102 tons in 2023, a decrease of about 40%[189]. - The total amount of construction and demolition waste increased significantly from 162 tons in 2022 to 325 tons in 2023, an increase of approximately 100%[193]. - Electricity consumption decreased from 17,010 kWh in 2022 to 9,275 kWh in 2023, a reduction of about 45%[198]. - The company continues to maintain its environmental management system in accordance with ISO 14001:2015 standards[187]. Risk Management and Compliance - The company has not encountered any significant or systemic non-compliance with relevant laws and regulations for the year ending December 31, 2023[113]. - The company conducts annual risk assessments related to climate change, identifying potential risks such as extreme weather conditions and regulatory changes[200]. - The company has implemented strategies to mitigate acute risks from extreme weather, including flexible working arrangements during typhoons[200]. - The company actively monitors domestic and international climate-related regulations to adapt internal resources accordingly[200]. Customer and Supplier Concentration - The largest customer accounted for approximately 48.5% of the group's annual revenue for the year ending December 31, 2023, compared to 31.5% in 2022[111]. - The top five customers represented about 94.7% of the group's annual revenue for the year ending December 31, 2023, up from 90.6% in 2022[111]. - The largest supplier's service cost constituted approximately 33.9% of the group's service costs for the year ending December 31, 2023, compared to 24.8% in 2022[111]. - The top five suppliers accounted for about 84.6% of the group's service costs for the year ending December 31, 2023, slightly down from 86.4% in 2022[111].
盈汇企业控股(02195) - 2023 - 年度财报