顺兴集团控股2022-23年报

CONTENTS 2Corporate Information4Chairman’s Statement7Management Discussion and Analysis14Corporate Governance Report34Biographical Details of Directors and Senior Management42Directors’ Report56Independent Auditor’s Report64Consolidated Statement of Profit or Loss and Other Comprehensive Income65Consolidated Statement of Financial Position67Consolidated Statement of Changes in Equity68Consolidated Statement of Cash Flows70Notes to the Consolidated Financial Statements143Summary of Financial Information Corporate Information BOARD OF DIRECTORS Executive DirectorsMr. Yu Cheung Choy(Chairman)Mr. Lau Man Ching(Chief Executive Officer)Mr. Yu Ho Chi Independent Non-executive Directors Mr. Lam Yim NamMr. Lee Wing KeeDr. Law Man Wah AUDIT COMMITTEE Dr. Law Man Wah(Chairman)Mr. Lam Yim NamMr. Lee Wing Kee REMUNERATION COMMITTEE Mr. Lam Yim Nam(Chairman)Mr. Lee Wing KeeDr. Law Man Wah NOMINATION COMMITTEE Mr. Lee Wing Kee(Chairman)Mr. Lam Yim NamDr. Law Man Wah FCG, HKFCG COMPANY SECRETARYMr. Tse Kam FaiFCG, HKFCG AUTHORISED REPRESENTATIVESMr. Yu Cheung ChoyMr. Lau Man Ching REGISTERED OFFICE Cricket Square, Hutchins DriveP.O. Box 2681Grand Cayman KY1-1111Cayman Islands Cricket Square, Hutchins DriveP.O. Box 2681Grand Cayman KY1-1111Cayman Islands Corporate Information HEAD OFFICE AND PRINCIPAL PLACE OF BUSINESS IN HONG KONG 8336603-606 Units 603-606, 6/F, Tower ICheung Sha Wan Plaza833 Cheung Sha Wan RoadKowloonHong Kong PRINCIPAL SHARE REGISTRAR AND TRANSFER OFFICE IN THECAYMAN ISLANDS Conyers Trust Company (Cayman) LimitedCricket Square, Hutchins DriveP.O. Box 2681Grand Cayman KY1-1111Cayman Islands Conyers Trust Company (Cayman) LimitedCricket Square, Hutchins DriveP.O. Box 2681Grand Cayman KY1-1111Cayman Islands BRANCH SHARE REGISTRAR AND TRANSFER OFFICE IN HONGKONG 愨1617 Tricor Investor Services Limited17/F, Far East Finance Centre16 Harcourt RoadHong Kong INDEPENDENT AUDITOR •8835 Deloitte Touche TohmatsuCertified PublicAccountantsRegistered Public Interest Entity Auditors35/F., One Pacific Place88 Queensway, Hong Kong PRINCIPAL BANKS Bank of China (Hong Kong) LimitedHang Seng BankShanghai Commercial BankThe Bank of East Asia 1637 STOCK CODE1637 www.shunhingeng.com COMPANY’S WEBSITEwww.shunhingeng.com Chairman’s Statement On behalf of the board (the “Board”) of directors (the “Director(s)”) of SHGroup (Holdings) Limited (the “Company”), I present the annual report of theCompany and its subsidiaries (collectively as the “Group”) for the year ended 31March 2023 (the “Year” or “FY2023”). The Group is principally engaged in providing electrical and mechanicalengineering (“E&M engineering”) services in Hong Kong. We focus our effortson the supply, installation and maintenance of mechanical ventilation andairconditioning system (“MVAC system”) and also provide services in relationto low voltage electrical system and other E&M systems, including fire servicessystem, plumbing and drainage system, in both private and public sectors. RESULTS 210026.7%75,33095,43077.6%22.4% During the Year, the Group recorded an increase in revenue by approximatelyHK$201.0 million, or 26.7%, from approximately HK$753.3 million for the yearended 31 March 2022 (“Last Year” or “FY2022”) to approximately HK$954.3million for the Year. The revenue generated by projects of MVAC systemcontributed 77.6% of total revenue of the Group whilst revenue generated byprojects of low voltage electrical system contributed 22.4% of total revenue ofthe Group. 1,1001,170 The Group recorded a loss for the Year of approximately HK$11.0 million, profitof approximately HK$11.7 million for FY2022. DIVIDEND 1.0 The Board did not recommend any final dividend for the Year (2022: HK1.0 centper ordinary share). BUSINESS OVERVIEW MVAC system 318,550 During the Year, the Group was awarded 3 projects in relation to MVAC systeminstallation with an aggregate contract sum of approximately HK$185.5 million.The awarded projects are not limited to residential projects but also involving aMVAC system maintenance and replacement project.The new projects, togetherwith the continual progress of projects awarded in previous years, would providethe Group with stable revenue and earnings in the coming years. Chairman’s Statement Low voltage electrical system 15%23%26.7% During the Year, the revenue contributed from projects of low voltage electricalsystem to the total Group’s revenue maintained at similar level as for FY2022,around 15% to 23%, while the total revenue of the Group increased by 26.7%.This is consistent with the business plan of the Group to steadily increase therevenue and profit generated from projects of the low voltage electrical system. OUTLOOK 2019Covid-19 The global economy has been severely impacted by the Coronavirus Disease2019 (“Covid-19”) pandemic in the past years and is facing a slow post-pandemicrecovery. Specifically in the construction and E&M engineering services industry,other adverse factors l