(於開曼群島註冊成立的成員有限公司) CTR Holdings Limited (股份代號 : 1416) >> DA DO DO DO DO DO DO DE DE LEASE SE LEASE SE LEASE SE LEASE SE LEASE SE LEASE SE LEASE SE LEASE SE LEASE SE LEASE SE LEASE SE LEASE SE LEAST liv- lin- ▲ 2020 中期報告 目 錄 2 公司資料 3 中期簡明綜合損益及其他全面收益表 4 中期簡明綜合財務狀況表 5 中期簡明綜合權益變動表 6 中期簡明綜合現金流量表 7 中期簡明綜合財務報表附註 27 管理層討論及分析 31 其他資料 2 2020 中期報告 | CTR Holdings Limited 公司資料 | --- | --- | |----------------------------|-------------------------------------------------------| | | | | 董事會 | 香港主要營業地點 | | 執行董事 | 香港金鐘道 95 號 ...

Company Overview - CTR Holdings Limited successfully listed on the Hong Kong Stock Exchange on January 15, 2020, marking a significant milestone for the company[8]. - As of February 29, 2020, the company had 12 projects on hand with a total contract value of approximately SGD 194.0 million, of which SGD 87.7 million has been recognized as revenue[12]. Financial Performance - The group's revenue increased by approximately 1.2 million SGD or 1.9% to about 65.6 million SGD for the fiscal year ended February 29, 2020, compared to approximately 64.4 million SGD for the previous fiscal year[16]. - Construction costs decreased by approximately 1.6 million SGD or 3.5% to about 46.1 million SGD for the fiscal year ended February 29, 2020, from about 47.7 million SGD in the previous fiscal year[17]. - Gross profit increased by approximately 2.9 million SGD or 17.5% to about 19.5 million SGD for the fiscal year ended February 29, 2020, compared to approximately 16.6 million SGD for the previous fiscal year[18]. - Administrative expenses rose by approximately 1.5 million SGD or 15.4% to about 11.3 million SGD for the fiscal year ended February 29, 2020, from about 9.8 million SGD in the previous fiscal year[20]. - The net profit for the fiscal year ended February 29, 2020, was approximately 7.4 million SGD, an increase of about 0.9 million SGD or 13.4% from approximately 6.5 million SGD in the previous fiscal year[24]. - Cash and cash equivalents increased by 222.9% to approximately 30.1 million SGD as of February 29, 2020, from about 9.3 million SGD as of February 28, 2019, primarily due to proceeds from the IPO[25]. Market Conditions - The construction industry in Singapore contracted by 4.3% year-on-year in Q1 2020, reflecting the impact of COVID-19[13]. - Construction activities were suspended from April 7 to June 1, 2020, due to government measures, affecting project timelines and incurring ongoing costs for the company[13]. - The board anticipates that two projects will gradually resume work in July 2020[13]. - The company plans to bid for five large projects starting from the end of 2020, expected to last between three to ten years, to strengthen its revenue sources[14]. - The company aims to adopt more competitive pricing strategies to secure new projects and enhance its financial position[14]. - The company is focused on expanding its market share in the local market by taking on more large-scale projects[14]. Governance and Management - The company emphasizes the importance of independent opinions from its non-executive directors in its governance structure[50]. - The management team has a diverse background in engineering, finance, and project management, enhancing the company's operational capabilities[59]. - The company has adopted the corporate governance code as per the Hong Kong Stock Exchange's listing rules, ensuring compliance and enhancing shareholder value[70]. - The board of directors is responsible for formulating company policies and business strategies, overseeing financial performance, and ensuring effective project management from inception to completion[71]. - The company has maintained compliance with the corporate governance code since its listing date on January 15, 2020, with the exception of one specific provision[70]. - The board includes two executive directors and three independent non-executive directors, ensuring a balanced governance structure[72]. Risk Management - The board is tasked with identifying, analyzing, and monitoring risks associated with daily operations and processes[95]. - The company has implemented a risk management policy and procedures to outline the risk management process and matrix[95]. - The board has reviewed the effectiveness of the group's risk management and internal control systems, deeming them effective and adequate[97]. - The company has engaged external consultants to perform internal audit functions, reviewing the risk management and internal control systems annually[97]. Environmental and Social Responsibility - The company generated a total greenhouse gas emission of 457.34 tons of CO2 equivalent during the reporting period[183]. - The company has implemented an environmental management system compliant with ISO 1400:2015 standards to mitigate environmental risks and impacts[179]. - The company has taken measures to reduce air emissions from construction sites, including using low-sulfur fuel and maintaining equipment to prevent excessive smoke emissions[183]. - The company recognizes the importance of sustainable development and aims to positively impact the community through responsible business operations[177]. Employee and Workforce Management - The total employee cost for the fiscal year 2019/2020 was approximately SGD 16.3 million, an increase from SGD 14.5 million in the previous fiscal year[43]. - The workforce increased to 559 employees as of February 29, 2020, up from 477 employees in the previous year, with 12.7% being Singapore citizens[43]. - The company provides competitive compensation packages and conducts annual performance evaluations to ensure fair rewards for employees[195]. - The company employs foreign workers from Malaysia, China, and other regions to support construction projects due to local labor shortages[196]. Shareholder Information - The company has adopted a dividend policy aimed at providing stable and sustainable returns to shareholders, with the board having the discretion to declare dividends based on various factors including financial condition and future expansion plans[171]. - The board has resolved not to recommend a final dividend for the year ended February 29, 2020, consistent with the previous fiscal year[173]. - The company’s major shareholders, Mr. Xu Xuping and Mr. Xu Tiansheng, each hold 1,050,000,000 shares, representing 75% of the issued share capital[148]. - The shareholding structure indicates that Mr. Xu Xuping and Mr. Xu Tiansheng are deemed to act in concert, collectively owning 75% of the company[149].