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Public company info - SFK Construction Holdings Ltd. , 01447.HK
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SFK Construction Holdings Ltd., 01447.HK - Company Profile
Chairman CHAN Ki Chun (formerly known as CHAN Kin Chung)
Share Issued (share) 400,000,000
Par Currency Hong Kong Dollar
Par Value 0.1
Industry Construction & Decoration
Corporate Profile Business Summary: The group is principally engaged in construction and maintenance projects in Hong Kong, construction projects in Macau and housing management services in Hong Kong and the People’s Republic of China (the “PRC”). Performance for the year: The Group’s revenue for the Year decreased by 11.86% to HK$5,461.87 million (2018: HK$6,197.16 million). The Group recorded a net loss attributable to equity shareholders of the Company of HK$28.83 million in the Year (2018: a net profit of HK$129.69 million). The Group’s overall gross profit decreased by approximately HK$198.03 million, or approximately 72.49%, from HK$273.18 million for 2018 to HK$75.15 million for 2019. Business Review： The Group’s revenue for the Year decreased by 11.86% to HK$5,461.87 million (2018: HK$6,197.16 million). The Group recorded a net loss attributable to equity shareholders of the Company of HK$28.83 million in the Year (2018: a net profit of HK$129.69 million). The results for the Year were adversely affected by a number of factors. Certain projects with relatively high profit margin were completed or nearly completed during the Year resulting in a reduction of contributions to revenue and profit by such projects for the Year. In addition, the Group had replaced certain non-performing subcontractors during the Year leading to an increase in overall subcontracting costs. The unexpected prolonged period of inspection of work done and certification of payments caused deterioration in the project cash flow and an increase in financing costs. The intense competition across the construction market in general led to an increase in the overall construction costs and affected the profitability. Furthermore, the social unrest and economic uncertainty in Hong Kong in the second half of the Year had negatively impacted the Group’s management of the construction sites, leading to an increase in overall operating costs during the Year. Major projects awarded and undertaken in 2019 During the Year, the Group were awarded 14 projects as a main contractor in Hong Kong (out of which 1 and 13 are from the public sector and private sector, respectively), with total original contract sum of approximately HK$1,255 million. Major projects completed in 2019 A majority of the Group’s revenue is generated from the Group’s general building and civil engineering works. During the Year, the revenue attributable to the Group’s general building and civil engineering business amounted to HK$4,288.19 million and HK$988.80 million (2018: HK$4,807.08 million and HK$1,236.28 million), respectively, representing approximately 78.51% and 18.10% (2018: 77.57% and 19.95%), respectively, of the total revenue of the Group for the Year. Prospects: Since early 2020, there is an outbreak of a coronavirus disease which has put tremendous pressure across the global economy. The Hong Kong Government has taken various measures to try to overcome the challenges arising from the outbreak, and is committed to leading the construction industry and increasing land supply for housing development. The Board is confident of the Group’s future development and will continue to build on existing competitive strengths to achieve the Group’s long term business objectives.

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