亚洲联合基建控股2024/25 中期报告

MISSION VISION •Improve people’s quality of life•Grow with our employees•Create value for shareholders•Committed to a sustainable future To be a dynamic enterprise that improves people’slivelihood through infrastructure and professionalservices for cities in Asia and beyond CORE VALUES Respect We respect one another and treat everyone equally Initiative We are self-starters and exceed expectations CommitmentWe build trust through commitment Nurture We spare no effort to nurture the next generation InnovationWe are intelligent problem-solvers SustainabilityWe prioritise ESG in every decision CONTENTS 04CondensedConsolidatedStatementofChangesinEquity24 CorporateInformation ManagementDiscussionandAnalysis 17NotestotheCondensedConsolidatedInterimFinancialInformation28 CorporateSocialResponsibility 20OtherInformation66 CondensedConsolidatedStatementofProfitorLossandOtherComprehensiveIncome DEFINITIONS Inthisinterimreport,unlessthecontextotherwiserequires,thefollowingtermsshallhavethemeaningssetoutbelow: Definitions Terms DEFINITIONS Definitions Terms thePeople’sRepublicofChina forthesixmonthsended30September20242024930 theholder(s)ofissuedShare(s) TheStockExchangeofHongKongLimited CORPORATEINFORMATION HONORARYDIRECTORLiWaiHang,Christina BOARDOFDIRECTORS ExecutiveDirectorsPangYatTing,Dominic(Chairman)XuJianhua,Jerry(DeputyChairman)PangYatBond,Derrick(ChiefExecutiveOfficer)SheaChunLok,Quadrant(ChiefFinancialOfficerandCompanySecretary) Non-executiveDirectorsWongWendyDickYeeYimYukLun,Stanley WuWilliamWaiLeungLamYauFung,CurtHoGilbertChiHangYenGordon AUDITCOMMITTEE WuWilliamWaiLeung(Chairman)WongWendyDickYeeYimYukLun,StanleyLamYauFung,CurtHoGilbertChiHang EXECUTIVECOMMITTEE PangYatTing,Dominic(Chairman)XuJianhua,JerryPangYatBond,DerrickSheaChunLok,Quadrant MANAGEMENTCOMMITTEE PangYatBond,Derrick(Chairman)PangYatTing,DominicXuJianhua,JerrySheaChunLok,Quadrant NOMINATIONCOMMITTEE PangYatTing,Dominic(Chairman)WongWendyDickYeeYimYukLun,StanleyWuWilliamWaiLeungLamYauFung,CurtHoGilbertChiHangYenGordon REMUNERATIONCOMMITTEE LamYauFung,Curt(Chairman)WuWilliamWaiLeungHoGilbertChiHang CORPORATEINFORMATION COMPANYSECRETARY SheaChunLok,Quadrant AUDITOR Ernst&YoungCertifiedPublicAccountantsRegisteredPublicInterestEntityAuditor LEGALADVISORS ConyersDill&PearmanYYC Legal LLP PRINCIPALBANKERS HangSengBankLimitedTheHongkongandShanghaiBankingCorporationLimitedTheBankofEastAsiaLimitedChongHingBankLimitedBank of Shanghai (Hong Kong) Limited HEADOFFICEANDPRINCIPALPLACEOFBUSINESS 83A27 27/F,Tower A83King LamStreetCheungShaWan,KowloonHongKong REGISTEREDOFFICE Clarendon House2 Church StreetHamilton HM 11Bermuda ClarendonHouse2ChurchStreetHamiltonHM11Bermuda PRINCIPALSHAREREGISTRAR MUFG Fund Services (Bermuda) Limited4th floor, North Cedar House41 Cedar AvenueHamilton HM12Bermuda MUFGFundServices(Bermuda)Limited4thfloor,NorthCedarHouse41CedarAvenueHamiltonHM12Bermuda HONGKONGBRANCHSHAREREGISTRAR 1617 TricorSecretariesLimited17/F.,FarEastFinanceCentre16HarcourtRoadHongKong www.asiaalliedgroup.com CORPORATEWEBSITE www.asiaalliedgroup.com 00711 STOCKCODE00711 MANAGEMENTDISCUSSIONANDANALYSIS FINANCIAL HIGHLIGHTS Total assetsHK$8,952,716,000 Total revenueHK$4,449,517,000 Net assetsHK$2,273,659,000 Lossattributable toShareholdersHK$264,089,000 Equity per share**HK$1.23 Basic earnings per shareHK2.26 cents Gearing ratio0.94 MANAGEMENTDISCUSSIONANDANALYSIS BUSINESS REVIEW 4,450,000,00020233,790,000,000264,100,000202368,300,000 The total revenue for the Group during the Review Period wasapproximately HK$4.45 billion (2023: HK$3.79 billion), with a net lossattributable to shareholders of around HK$264.1 million (2023: netprofit attributable to shareholders HK$68.3 million). The loss was a resultof a write-off of the Group’s contract assets for certain projects due touncertainties regarding their recovery during the Review Period, which is anon-cash accounting treatment in accordance with HKFRSs. During the Review Period, Hong Kong’s macroeconomic environmentremained uncertain, with geopolitical tensions, a slowdown in the capitalfinance market, and prolonged high bank lending rates, resulting in highfinancing costs and pressure on industrial and commercial operations. Inaddition, the drainage of talents and the rising aging population in HongKong brought many challenges to the business. Although the market environment has become sluggish in the short termdue to the above factors, the Group has developed a strategic plan earlier.On one hand, maintained a carefully-crafted cost-reduction programincluding strengthening cost and efficiency management, speeding up thecollection from construction contracts, actively reducing existing contractassets, and planning to apply those collections to reduce some of thelong-term borrowing, thereby saving the corresponding interest expensesand the sale of leased land in the same period last year to realise profits,optimise asset ut