ANNUAL REPORT年度報告for the year ended 31 March 2022截至二零二二年三月三十一日ANNUAL REPORT 2022 年度報告KIN YAT HOLDINGS LIMITED 建溢集團有限公司 CONTENTS目 錄CORPORATE INFORMATION 公司資料2CHAIRMAN’S STATEMENT 主席報告4MANAGEMENT DISCUSSION AND ANALYSIS 管理層討論及分析8BIOGRAPHICAL DETAILS OF THE DIRECTORS 董事履歷詳情21REPORT OF THE DIRECTORS 董事會報告26CORPORATE GOVERNANCE REPORT 企業管治報告44OTHER CORPORATE INFORMATION 其他公司資料71INDEPENDENT AUDITOR’S REPORT 獨立核數師報告74AUDITED FINANCIAL STATEMENTS 經審核財務報表Consolidated income statement 綜合收益表86Consolidated statement of comprehensive income 綜合全面收益表87Consolidated statement of financial position 綜合財務狀況表89Consolidated statement of changes in equity 綜合權益變動表91Consolidated statement of cash flows 綜合現金流量表92Notes to financial statements 財務報表附註94FINANCIAL SUMMARY 財務概要228 2CORPORATE INFORMATION公司資料ANNUAL REPORT 2022 年度報告KIN YAT HOLDINGS LIMITED 建溢集團有限公司董事會執行董事鄭楚傑先生 （主席兼行政總裁）廖達鸞先生鄭子濤先生鄭子衡先生李劍華先生*非執行董事馮華昌博士**獨立非執行董事黃揸維先生孫季如博士鄭國乾先生張宏業先生* 李劍華先生於二零二一年四月一日獲委任為執行董事。** 馮華昌博士於二零二一年四月一日辭任執行董事並調任為非執行董事。公司秘書洪錦榮先生總辦事處及主要營業地點香港九龍新蒲崗六合街25至27號嘉時工廠大廈7樓註冊辦事處Clarendon House2 Church StreetHamilton HM 11BermudaBOARD OF DIRECTORSExecutive DirectorsMr. Cheng Chor Kit (Chairman and Chief Executive Officer)Mr. Liu Tat LuenMr. Cheng Tsz ToMr. Cheng Tsz HangMr. Lee Kim Wa, Winston*Non-executive DirectorDr. Fung Wah Cheong, Vincent**Independent non-executive DirectorsMr. Wong Chi WaiDr. Sun Kwai Yu, VivianMr. Cheng Kwok Kin, PaulMr. Cheung Wang Ip* Mr. Lee Kim Wa, Winston was appointed as an executive Director on 1 April 2021.** Dr. Fung Wah Cheong, Vincent resigned as an executive Director and was re-designated as a non-executive Director on 1 April 2021.COMPANY SECRETARYMr. Hung Kam Wing, TimmyHEAD OFFICE AND PRINCIPAL PLACE OF BUSINESS7/F., Galaxy Factory Building25-27 Luk Hop StreetSan Po Kong, Kowloon Hong KongREGISTERED OFFICEClarendon House 2 Church Street Hamilton HM 11Bermuda 3CORPORATE INFORMATION公司資料ANNUAL REPORT 2022 年度報告KIN YAT HOLDINGS LIMITED 建溢集團有限公司百慕達主要股份過戶登記處MUFG Fund Services (Bermuda) LimitedRosebank Centre11 Bermudiana RoadPembroke HM 08Bermuda香港股份過戶登記分處*卓佳登捷時有限公司香港灣仔皇后大道東183號合和中心54樓核數師羅兵咸永道會計師事務所執業會計師及註冊公眾利益實體核數師主要往來銀行香港上海滙豐銀行有限公司恒生銀行有限公司公司網站www.kinyat.com.hk* 自二零二二年八月十五日起，本公司的香港股份過戶登記分處卓佳登捷時有限公司之地址將更改為香港夏慤道16號遠東金融中心17樓。BERMUDA PRINCIPAL SHARE REGISTRAR AND TRANSFER OFFICEMUFG Fund Services (Bermuda) LimitedRosebank Centre11 Bermudiana Road Pembroke HM 08 BermudaHONG KONG BRANCH SHARE REGISTRAR AND TRANSFER OFFICE*Tricor Tengis LimitedLevel 54, Hopewell Centre183 Queen’s Road EastWanchai, Hong KongAUDITORPricewaterhouseCoopersCertified Public Accountants and Registered PIE AuditorPRINCIPAL BANKERSThe Hongkong and Shanghai Banking Corporation LimitedHang Seng Bank LimitedCORPORATE WEBSITEwww.kinyat.com.hk* With effect from 15 August 2022, Tricor Tengis Limited, the Hong Kong Branch Share Registrar and Transfer Office of the Company will change its address to 17/F., Far East Finance Centre, 16 Harcourt Road, Hong Kong. 4CHAIRMAN’S STATEMENT主席報告ANNUAL REPORT 2022 年度報告KIN YAT HOLDINGS LIMITED 建溢集團有限公司Dear valued shareholders,On behalf of the board (the “Board”) of directors (the “Directors”) of Kin Yat Holdings Limited (the “Company” or “Kin Yat”, and, together with its subsidiaries, the “Group”), I am pleased to present the results for the year ended 31 March 2022 (the “Year”) to our shareholders.MARKET OVERVIEWAfter encountering the rather unknown COVID-19 in 2020, the world strived to adapt to the pandemic in 2021, attempting to establish a new normal despite the virus continued to evolve and mutate. Yet, despite we are more experienced in handling uncertainties, the macro operating environment continued to deliver new challenges: new variants caused major markets to implement various outbound travel restrictions, lockdown measures and quarantine regulations, leading to a drag to consumer sentiment and business activities; surge in commodity prices and Renminbi appreciation have led to a significant increase in raw materials and production cost; all at the same time, the global freight market was severely impeded by the pandemic, leading to a spike in freight charges, which is part of customers’ total cost, forcing them to mitigate risks by reducing orders or delaying shipment.Over the years, manufactures in China also faced growing uncertainties. The worsening Sino-U.S. trade tension gave companies food for thought, and the rising labour costs, along with the occasional production disruption and lockdowns, provided the incentives to establish new sites in order to diversify supply chain, become closer to end markets, and be more competitive in cost. The stringent travelling restrictions that come with the zero-COVID policy also made executives travelling difficult, posing further operational challenges. In fact, res