New Energy and Electric Vehicles - The company plans to expand its new energy business and accelerate its layout in the Southeast Asian market, focusing on electric vehicle and charging system sales[4]. - The company has established a strategic partnership with Wuling Motors Group, becoming the exclusive distributor for several electric motorcycles and logistics vehicles in Hong Kong and Macau, with sales expected to grow significantly in 2024[31]. - The company anticipates steady revenue growth from its charging systems starting in 2024, aiming for breakeven in 2025 and profitability in 2026[31]. - The company has initiated the installation of electric vehicle charging stations in Macau and China, contributing to the growing demand for electric vehicles[7][8]. - The company is actively planning to expand its electric bicycle battery swapping system business into the Southeast Asian market[87]. - The electric vehicle business generated revenue of MOP 1.7 million, maintaining a 0.1% contribution to total revenue[83]. - The electric vehicle segment reported a gross loss of 4.6 million MOP in FY2023, up from 2.3 million MOP in FY2022, with material and installation costs for charging facilities and lithium iron phosphate battery cabinets amounting to approximately 2.589 million MOP[95]. - The group plans to expand its electric vehicle charging services, having signed contracts for multiple projects in Macau and Guangdong Province[76]. - The company expanded its electric vehicle business and charging infrastructure in Macao and Guangdong Province, aiming to enhance energy efficiency and contribute to a net-zero future[183]. Environmental, Social, and Governance (ESG) Initiatives - The company has identified 14 key environmental, social, and governance (ESG) themes, including greenhouse gas emissions and employee development, to guide its sustainability efforts[21]. - The company emphasizes compliance with environmental regulations and has implemented measures to ensure adherence to local laws regarding environmental protection and noise pollution[29][26]. - The company has obtained ISO 14001:2015 certification for its environmental management system, demonstrating its commitment to sustainable practices[36]. - The company is actively exploring opportunities in sustainable development projects and seeking green solutions to address sustainability challenges[36]. - The group aims to incorporate "low carbon" into its investment strategy by 2025 and ensure emissions intensity aligns with business growth[150]. - The group will monitor paper consumption intensity and ensure it correlates with business growth by 2025[150]. - The group is committed to energy efficiency in procurement criteria for electronic equipment by 2025[150]. - The company has adopted proactive management policies to assess climate change risks and mitigate their impact on operations[182]. - The company has invested in climate-related projects to support a low-emission future[183]. - The company emphasizes the importance of environmental performance management and has established a system for assessing and improving its environmental impact[187]. Financial Performance - The group's revenue increased by 11.5% to MOP 1,496.4 million in the fiscal year 2023, up from MOP 1,341.9 million in 2022[62]. - Revenue from the steel structure business reached MOP 1,030.4 million, accounting for 68.9% of total revenue, compared to 45.9% in the previous fiscal year[62]. - The gross profit margin for the steel structure business improved significantly to 10.0%, up from 6.6% in the previous year, while the overall gross profit margin decreased to 8.1% from 10.5%[70]. - The group reported a net profit margin of only 0.4% for fiscal year 2023, down from 6.8% in 2022, primarily due to increased interest expenses and a trade receivable impairment loss of MOP 25.0 million[70]. - The group's annual profit decreased by MOP 86.1 million or 93.9%, with the net profit margin dropping from 6.8% in FY2022 to 0.4% in FY2023[152]. Construction and Infrastructure Development - The company has completed the first phase of its steel structure production base in Jiangmen, Guangdong, which will officially commence operations in January 2024, expanding its business from sales to production and manufacturing[38]. - The company plans to focus on entering the Hong Kong and overseas markets in 2024, aiming to increase the profitability of its steel structure business[38]. - The Macau government aims to improve local housing issues and will continue to implement the "ladder housing policy" while promoting major public works in 2024, which aligns with the company's infrastructure and engineering business development[39]. - The company aims to enhance its revenue and profit from construction, renovation, and mechanical engineering projects in 2024[39]. - The group secured new contracts valued at approximately MOP 191.8 million for various construction and maintenance projects, including structural engineering for a comprehensive resort and HVAC systems for public housing[74]. - The construction business will focus on participating in government infrastructure projects and renovations for major gaming companies, expecting stable development[135]. - The group anticipates a significant increase in demand for renovation and construction projects due to over MOP 1 billion in non-gaming investment commitments from six major gaming companies[129]. - The group expects to see more business opportunities from ongoing infrastructure projects in Macau and Hong Kong in 2024[130]. Human Resources and Employee Management - The number of employees increased to 366 as of December 31, 2023, compared to 281 in the previous fiscal year[128]. - The company has established a structured recruitment and termination process based on fair assessment criteria to attract and retain qualified talent[169]. - The company has implemented a comprehensive evaluation mechanism for employee performance to determine promotions and compensation[180]. - The percentage of trained employees in 2023 was 83% for males and 17% for females, compared to 75% and 25% in 2022 respectively[190]. - The average training hours per employee increased for males to 26.7 hours from 25.7 hours in 2022, and for females to 34.0 hours from 27.0 hours[190]. - The company reported no direct employee fatalities over the past three years, maintaining a strong safety record[195]. - The company has implemented measures to promote gender diversity in recruitment and aims to maintain current female representation levels[186]. - The board of directors comprised 20% female members, with 25% in senior management roles, and 16% of the total workforce being female[186]. - Employee turnover rate for males decreased from 38% in 2022 to 32% in 2023, while for females it increased from 15% to 45%[177]. Strategic Partnerships and Collaborations - A strategic cooperation agreement was signed with Zhongnan Steel Group to enhance support for project orders in the Hong Kong and Macau regions and to develop the green building market in Belt and Road countries[65]. - Aoneng International has entered into a collaboration with Tongji University to establish a research center aimed at improving product technology and market uniqueness in prefabricated construction materials[71]. - The group is deepening technical cooperation with Tongji University to meet market demands for assembly construction methods[135]. Operational and Capital Management - The group has made capital commitments of approximately MOP 63.87 million for the construction of new production and R&D facilities in Jiangmen, Guangdong Province[127]. - The group's outstanding bank borrowings as of December 31, 2023, were 267.2 million MOP, up from 90.6 million MOP in FY2022, with unused credit facilities of 120.5 million MOP[105]. - The group's capital debt ratio was 55.7% as of December 31, 2023, compared to 18.8% in FY2022[105]. - The group has pledged bank deposits of MOP 24.8 million and land leases of MOP 48.0 million as collateral for credit financing[120]. - The group has entered into foreign exchange hedging contracts totaling HKD 120 million and HKD 100 million to mitigate currency risk from RMB to HKD[112].
澳能建设(01183) - 2023 - 年度财报