龙升集团控股2023/24 中期报告

2-3Corporate Information4-11Management Discussion and Analysis12-42Condensed Consolidated Interim FinancialStatements43-48Corporate Governance/Other Information CORPORATE INFORMATION BOARD OF DIRECTORSExecutive DirectorsMr. Yip Yuk Kit(Chairman)Mr. Cheung Chun Fai Independent Non-Executive Directors Mr. Chan Ka YuMr. Lee Kwok LunMr. Chan Wa Shing AUDIT COMMITTEE Mr. Lee Kwok Lun(Chairman)Mr. Chan Wa ShingMr. Chan Ka Yu REMUNERATION COMMITTEE Mr. Chan Ka Yu(Chairman)Mr. Yip Yuk KitMr. Chan Wa Shing NOMINATION COMMITTEE Mr. Yip Yuk Kit(Chairman)Mr. Chan Ka YuMr. Lee Kwok Lun COMPANY SECRETARYMr. Leung Hoi Ki AUTHORISED REPRESENTATIVESMr. Cheung Chun FaiMr. Leung Hoi Ki REGISTERED OFFICE Windward 3, Regatta Office ParkP.O. Box 1350Grand Cayman KY1–1108Cayman Islands Windward 3, Regatta Office ParkP.O. Box 1350Grand Cayman KY1–1108Cayman Islands HEADQUARTERS AND PRINCIPAL PLACE OFBUSINESS IN HONG KONG 1212K Office K, 12/FKings Wing Plaza 2No. 1 On Kwan StreetShatinHong Kong LEGAL ADVISER As to Hong Kong Law ZM Lawyers88–988820 ZM LawyersSolicitors, Hong Kong20/F, Central 88Nos. 88–98 Des Voeux RoadCentralHong Kong CAYMAN ISLANDS PRINCIPAL SHAREREGISTRAR AND TRANSFER OFFICE Ocorian Trust (Cayman) LimitedWindward 3, Regatta Office ParkP.O. Box 1350Grand Cayman KY1–1108Cayman Islands Ocorian Trust (Cayman) LimitedWindward 3, Regatta Office ParkP.O. Box 1350Grand Cayman KY1–1108Cayman Islands HONG KONG BRANCH SHARE REGISTRAR ANDTRANSFER OFFICE 148212103B Boardroom Share Registrars (HK) Limited2103B, 21/F148 Electric RoadNorth PointHong Kong AUDITOR 2811 Grant Thornton Hong Kong Limited11th Floor, Lee Garden Two28 Yun Ping RoadCauseway BayHong Kong 1 PRINCIPAL BANK The Hongkong and Shanghai Banking Corporation Limited1 Queen’s Road CentralHong Kong www.kitkee.com.hk COMPANY’S WEBSITEwww.kitkee.com.hk 6829 STOCK CODE6829 MANAGEMENT DISCUSSION AND ANALYSIS The board (the “Board”) of directors (the “Directors”) of DragonRise Group Holdings Limited (the “Company”) is pleased to presentthe interim results of the Company and its subsidiaries (collectively,the “Group”) for the six months ended 30 September 2023 (the“Reporting Period”). INDUSTRY REVIEW COVID-192.2% In the first half of 2023, Hong Kong’s foundation industry witnesseda notable surge in activity, reflecting the region’s economic recovery.Supported by a steady recovery in the Chinese economy, HongKong had managed to shake off the disruptions caused by the novelcoronavirus (“COVID-19”) pandemic. The government’s proactivemeasures and initiatives aimed at boosting the economy had yieldedpositive results, with a 2.2% year-on-year increase in the city’s realGDP during the first half of the year. 129,3028.0%89.3%10,885 The construction sector, a vital component of Hong Kong’seconomic landscape, was a significant contributing sector to thisgrowth. According to the provisional data from the Hong Konggovernment’s Census and Statistics Department, the total nominalvalue of construction projects completed by main contractors in thefirst half of 2023 amounted to HK$129,302 million, marking an8.0% increase compared to the same period in the previous year.Of particular note was the surge in piling and related foundationworks, with a substantial 89.3% year-on-year increase, totallingHK$10,885 million for the first half of 2023. (International Institutefor Management Development) This substantial growth in foundation projects underscoredthe positive momentum in the industry, reflecting the region’sresilience and economic strength. In a globally recognised report,the “2023 World Competitiveness Yearbook” by the InternationalInstitute for Management Development, Hong Kong had onceagain been recognised as one of the world’s most competitiveeconomies, ranking seventh globally, with a notable upswing in the“infrastructure” category. Hong Kong’s construction foundationindustry, with its remarkable performance, played a pivotal role inthe region’s continued economic growth and competitiveness onthe global stage. BUSINESS REVIEW AND OUTLOOK (i)(ii)(iii) T h e G r o u p i s a s e a s o n e d s u b c o n t r a c t o r i n H o n g K o n g’sconstruction industry, with three decades of experience, mainlyengaging in foundation works for commercial and residentialbuilding construction. The Group has developed the experienceand capability to offer a comprehensive range of foundationconstruction and related services. It specialises in (i) ELS and pilecap construction works; (ii) disposal of excavated materials frompiling; and (iii) ancillary services including dismantling of shoring,site formation, steel fixing and site clearance. Kit Kee EngineeringLimited (“Kit Kee Engineering”), its principal operating subsidiary,is registered with the Construction Industry Council under theSubcontractor Registration Scheme under the sub-register of thestructural and civil trade group. 4505.3331.36.01.8%23.248.7%7.65.40.48.0% During the Reporting Period,