华和控股2022/23年年报

Corporate Information2Chairman’s Statement4Management Discussion and Analysis6Report of the Directors14Biographies of the Directors and Senior Management28Corporate Governance Report31Environmental, Social and Governance Report44Independent Auditor’s Report63Consolidated Statement of Profit or Loss andOther Comprehensive Income72Consolidated Statement of Financial Position73Consolidated Statement of Changes in Equity75Consolidated Statement of Cash Flows76Notes to the Financial Statements78Five-Year Financial Summary159Particulars of Properties160 Contents目錄 Corporate Information公司資料 BOARD OF DIRECTORS Executive DirectorsMr. Chen Yuet Wa(Chairman and Chief Executive Officer)Mr. Chan Fai Independent Non-executive Directors Mr. Chow Chi FaiMr. Chan Hon KiMr. Yu Chi Wing AUDIT COMMITTEE Mr. Chow Chi Fai(Chairperson)Mr. Chan Hon KiMr. Yu Chi Wing REMUNERATION COMMITTEE Mr. Chan Hon Ki(Chairperson)Mr. Chen Yuet WaMr. Chow Chi Fai NOMINATION COMMITTEE Mr. Chen Yuet Wa(Chairperson)Mr. Yu Chi WingMr. Chan Hon Ki (HKICPA) COMPANY SECRETARYMr. Lee Kai Ming(HKICPA) (HKICPA) AUTHORISED REPRESENTATIVES Mr. Chen Yuet WaMr. Lee Kai Ming(HKICPA) AUDITORS 2829 RSM Hong KongCertified Public AccountantsRegistered Public Interest Entity Auditor29th Floor, Lee Garden Two28 Yun Ping RoadCauseway BayHong Kong REGISTERED OFFICE IN THE CAYMAN ISLANDS Cricket SquareHutchins DriveP.O. Box 2681Grand Cayman KY1-1111Cayman Islands Cricket SquareHutchins DriveP.O. Box 2681Grand Cayman KY1-1111Cayman Islands HEADQUARTERS AND PRINCIPAL PLACE OFBUSINESS IN HONG KONG 36–404AD Flat A & D, 4/F, Phase 1, Kwai Shing Industrial Building36–40 Tai Lin Pai RoadKwai Chung, New TerritoriesHong Kong PRINCIPAL SHARE REGISTRAR AND TRANSFEROFFICE IN THE CAYMAN ISLANDS Conyers Trust Company (Cayman) LimitedCricket SquareHutchins DriveP.O. Box 2681Grand Cayman KY1-1111Cayman Islands Conyers Trust Company (Cayman) LimitedCricket SquareHutchins DriveP.O. Box 2681Grand Cayman KY1-1111Cayman Islands HONG KONG BRANCH SHARE REGISTRAR ANDTRANSFER OFFICE 1617 Tricor Investor Services Limited17/F, Far East Finance Centre16 Harcourt Road, Hong Kong PRINCIPAL BANKER 151 Nanyang Commercial Bank, Ltd.151 Des Voeux Road CentralHong Kong www.wahwoalum.com COMPANY WEBSITE www.wahwoalum.com 9938 STOCK CODE 9938 Chairman’s Statement主席報告 To all shareholders: 20233 31 On behalf of the board (the “Board”) of directors (the “Directors”) of Wah WoHoldings Group Limited (the “Company”), I am pleased to present the annualresults of the Company and its subsidiaries (collectively the “Group”) for theyear ended 31 March 2023 (the “Year”). The Group is a Hong Kong-based contractor engaged in façade works, whichmainly include windows, window wall system, curtain wall system and otherfaçade members. We principally provide design and build services for newbuildings and renovation services for built premises. The Group also engagedin rental of investment properties during the Year as more resources beingallocated to this segment. (i)(ii)208.42022331223.26.7%20223312.920223311.4107.1% During the Year, the Group recorded a total revenue from (i) construction andancillary service and (ii) rental of investment properties of HK$208.4 million,representing a decrease of approximately 6.7% as compared to approximatelyHK$223.2 million for the year ended 31 March 2022 which was mainly due tocompletion of the projects on hand from construction and ancillary servicesduring the year ended 31 March 2022. The Group recorded a net profit ofapproximately HK$2.9 million, represented an increase of approximately107.1% as compared with approximately HK$1.4 million for the year ended 31March 2022. For the contributing factors of the increase in net profit, pleaserefer to the “Management Discussion and Analysis” section of this report. COVID-19 Nevertheless, the Directors considers that general outlook of the industryand the business environment remains difficult and challenging. During theYear, the novel coronavirus (the “COVID-19”) situation and its new variantscontinued to threaten Hong Kong’s economy and construction industry interms of cash flow, operational efficiencies. The global economic outlook alsodeteriorating rapidly, such as: geopolitical tensions between various countries;high inflation threatening the global and triggering a widespread wave ofinterest rate hikes and monetary tightening; rumours of banks collapsing andglobal recession in future years. The Group also faces intense competitionfrom fellow competitors and the entrance of new competitors, which lead to achallenging situation to the Group. The Group will remain vigilant and closelymonitor the development of business operations. The Group will continue toadopt a more competitive tender pricing policy and stringent control over theproduction costs in order to achieve reasonable project’s gross margin. Regardless of the near-term challenges and uncertainty in the industry andeconomy, we w