C CARBONNEUTRAL-中国碳中和(01372) - 2024 - 年度财报

Financial Performance - For the period from January 1, 2023, to June 30, 2024, the Group recorded consolidated revenue of approximately HK $959.1 million, representing an increase of approximately 35.2% compared to HK$ 709.3 million in the year ended December 31, 2022[80]. - The gross profit for the period amounted to approximately HK $49.9 million, an increase of approximately 17.4% from HK$ 42.5 million in the year 2022[80]. - Administrative and selling expenses for the period were approximately HK $102.3 million, reflecting an increase of approximately 19.0% compared to HK$ 86.0 million in the year 2022[81]. - The Group recorded a loss of approximately HK $137.3 million for the Period, a decrease of 31.0% compared to a loss of approximately HK$ 199.0 million in Year 2022[86]. - Finance costs increased by approximately HK $13.2 million or 22.3%, totaling approximately HK$ 72.6 million for the Period, compared to approximately HK $59.4 million in Year 2022[85]. Customer and Revenue Concentration - The largest customer accounted for approximately 30.0% of the Group's total revenues during the Period, up from approximately 28.5% in 2022[11]. - The five largest customers represented approximately 89.9% of the Group's total revenues for the Period, compared to approximately 89.3% in 2022[11]. - The Group's customer base in the Civil Engineering and Construction Business is concentrated among certain government departments, public utilities, and private organizations in Hong Kong[12]. Environmental Commitment - The Group is committed to environmental protection and has implemented green office practices, including reducing energy consumption and promoting the use of recycled materials[6]. - The Group will continue to review its environmental practices and consider implementing further eco-friendly measures[8]. - The Group's environmental management system has obtained ISO 14001 certification, emphasizing systematic resource utilization efficiency and emission control[99]. - The Group's projects prioritize the protection of biodiversity and sustainable development, aligning with its commitment to environmental responsibility[99]. Corporate Governance and Leadership Changes - The Company experienced non-compliance with corporate governance requirements due to the resignation of Independent Non-executive Directors, which was rectified upon their replacement[63]. - The Company has adopted the Corporate Governance Code and made necessary adjustments following the resignation and appointment of directors[63]. - The company has undergone leadership changes, with Ms. Chan Tan Na resigning as Chairman and Executive Director on February 20, 2023[185]. - The company is focused on carbon neutrality and has appointed Mr. Di Ling as the Chief Executive Officer effective April 12, 2024, to lead corporate strategies in this area[184]. - The ongoing restructuring of the board is expected to align with the company's long-term growth and sustainability goals[188][191][194]. Investments and Acquisitions - In March 2023, the Group acquired a 73% equity interest in China Carbon Green Credit Technology (Shenzhen) Company Limited, enhancing its capabilities in blockchain-based digital technology for carbon-neutral development[93]. - The Group completed the acquisition of 60% equity interest in Henan Zailiang New Energy Renewable Company Limited for HK$ 30,000,000 on March 18, 2024[162]. - The Group aims to increase carbon asset sources through partnerships with China Everbright Group and Sinochem Group, leveraging its strong carbon asset development and management team[121]. Employee and Operational Insights - Total employee benefits for the Group were approximately HK $108.4 million for the period, compared to approximately HK$ 96.6 million in 2022, reflecting a year-on-year increase of about 12.5%[168]. - The Group had 309 employees as of June 30, 2024, a decrease from 329 employees as of December 31, 2022[168]. - The Group's operations are subject to various risks, including market price fluctuations and industry-specific risks related to carbon credits and regulatory changes[150][151]. Future Plans and Strategic Focus - The Group plans to invest more resources in the New Energy and Renewable Energy business segments to enhance growth and sustainability[109]. - The Group aims to achieve negative carbon emissions of 100 million tonnes through nature-based and technology-based solutions, targeting a 2% reduction in China's carbon dioxide emissions[92]. - The Group plans to leverage national consumption promotion policies to gain significant market share in the two-wheeled electric vehicle sector through trade-in programs[129]. Share Capital and Financial Position - As of June 30, 2024, the total issued share capital of the Company is 535,800,000 shares[38]. - The Company increased its authorized share capital from HK $5,000,000 to HK$ 100,000,000 by creating an additional 9,500,000,000 shares on October 11, 2023[131]. - The Group's net current liabilities and net liabilities as of June 30, 2024, amounted to HK $34.6 million and HK$ 1.4 million, representing a decrease of HK $158.7 million and HK$ 48.3 million compared to December 31, 2022[130].