域高国际控股2022/2023年报

CONTENTS CORPORATE INFORMATIONSTATEMENT FROM THE CHAIRMANMANAGEMENT DISCUSSION AND ANALYSISBIOGRAPHICAL DETAILS OF DIRECTORS AND SENIOR MANAGEMENTENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORTCORPORATE GOVERNANCE REPORTDIRECTORS’ REPORTINDEPENDENT AUDITOR’S REPORTCONSOLIDATED STATEMENT OF PROFIT OR LOSS ANDOTHER COMPREHENSIVE INCOMECONSOLIDATED STATEMENT OF FINANCIAL POSITIONCONSOLIDATED STATEMENT OF CHANGES IN EQUITYCONSOLIDATED STATEMENT OF CASH FLOWSNOTES TO THE CONSOLIDATED FINANCIAL STATEMENTSFINANCIAL SUMMARY 24614226190106112 113115116118204 CORPORATE INFORMATION BOARD OF DIRECTORS Mr. HUI Pui Sing(Chairman)Ms. TONG Man WahMr. HUI Yip Ho Eric(Chief Executive Officer)Mr. KONG Man Ho Non-executive DirectorMr. WONG Chun Man Independent non-executive Directors Mr. LEUNG Ho ChiMr. CHAN Ching SumMr. TSE Yung Hoi AUDIT COMMITTEE Mr. LEUNG Ho Chi(Chairman)Mr. CHAN Ching SumMr. TSE Yung Hoi REMUNERATION COMMITTEE Mr. LEUNG Ho Chi(Chairman)Mr. HUI Yip Ho EricMr. TSE Yung Hoi NOMINATION COMMITTEE Mr. HUI Pui Sing(Chairman)Mr. LEUNG Ho ChiMr. CHAN Ching Sum AUTHORISED REPRESENTATIVES Mr. HUI Yip Ho EricMr. KONG Man Ho (ACG, HKACG) COMPANY SECRETARYMs. CHAN Sze Ting(ACG, HKACG) REGISTERED OFFICE Third Floor, Century Yard, Cricket SquareP.O. Box 902, Grand Cayman, KY1–1103Cayman Islands Third Floor, Century Yard, Cricket SquareP.O. Box 902, Grand Cayman, KY1–1103Cayman Islands HEAD OFFICE AND PRINCIPAL PLACE OF BUSINESSIN HONG KONG 1011D Unit D, 11/F, Billion Plaza IINo. 10 Cheung Yue StreetCheung Sha Wan, Hong Kong HONG KONG BRANCH SHARE REGISTRAR ANDTRANSFER OFFICE 1617 Tricor Investor Services Limited17/F, Far East Finance Centre16 Harcourt Road, Hong Kong CAYMAN ISLANDS PRINCIPAL SHARE REGISTRARAND TRANSFER OFFICE Tricor Services (Cayman Islands) LimitedThird Floor, Century Yard, Cricket SquareP.O. Box 902, Grand Cayman, KY1–1103Cayman Islands Tricor Services (Cayman Islands) LimitedThird Floor, Century Yard, Cricket SquareP.O. Box 902, Grand Cayman, KY1–1103Cayman Islands AUDITOR Prism Hong Kong and Shanghai LimitedCertified Public AccountantsRegistered Public Interest Entity AuditorUnits 1903A-1905, 8 Observatory RoadTsim Sha Tsui, KowloonHong Kong 81903A-1905 PRINCIPAL BANKERS Bank of China (Hong Kong) LimitedChong Hing Bank Limited STOCK CODE 1621 1621 COMPANY WEBSITE www.vicointernational.hk www.vicointernational.hk STATEMENT FROM THE CHAIRMAN Dear Shareholders, On behalf of the board (the “Board”) of directors (the“Directors” and each a “Director”) of Vico InternationalHoldings Limited (the “Company”), I am pleased to present theannual report of the Company and its subsidiaries (collectively,the “Group”) for the year ended 31 March 2023 (the “CurrentPeriod”). 1,017,000,00045,000,000 Facing all the opportunities and challenges in 2022, theGroup has managed to maintain stable daily operations andmaintenance of the sales of diesel and provision of fleet cardsservice in Hong Kong. After the in-depth assessment by themanagement of the demand in market and the considerationof the great uncertainty over the course of the pandemic inHong Kong, the Group has mainly focused on increasing intrading volumes of lubricant oil in Dubai. Under the currentbusiness strategies, the Group was able to achieve a totalrevenue of approximately HK$1,017 million and gross profit ofapproximately HK$45 million this year. Hopefully, as travel restrictions in Hong Kong and mainlandChina started to relax, the recovery of international trade andtourism is expected to bring the strength to the Hong Kongeconomy. According to an economic letter issued in early 2023by the Office of the Government Economist, the Hong Kongeconomy improved visibly in the first quarter of 2023, led bythe strong recovery of inbound tourism and domestic demand.As such, we can expect the demand on fleet cards serviceand diesel oil will resume gradually. In the meantime, we alsoexpect the recovery for Hong Kong’s construction industry withsteady levels of construction output, which would positivelyaffect the demand for lubricant oil in upcoming 2023. On behalf of the Board, I would like to express my gratitude tothe Board of Directors, management team and all staff for theircontinuous contributions and commitment to the Group. I alsotake this opportunity to extend our sincere appreciation to theShareholders for their support and confidence in us. I wish allof us good time and health in the coming year. HUI Pui SingChairman Hong Kong, 23 June 2023 MANAGEMENT DISCUSSION AND ANALYSIS BUSINESS REVIEW (i)(ii)(iii) The Group is principally engaged in the distribution of third-party branded petrochemicals, the sales of the self-brandedlubricant oil and provides fleet card services in Hong Kong.The petrochemical products of the Group include (i) diesel; (ii)lubricant oil (including self-branded lubricant oil and third-partybranded lubricant oil); and (iii) other petrochemicals such asbitumen. The Group sourced semi-fini