四洲集团2023年报

Contents目 錄 Corporate Information2-3Chairman’s Statement4-15Major Awards16-18Management Discussion and Analysis19-26Report of the Directors27-41Corporate Governance Report42-63Independent Auditor’s Report64-71Audited Financial StatementsConsolidated Statement of Profit or Loss72Consolidated Statement of Comprehensive Income73Consolidated Statement of Financial Position74-75Consolidated Statement of Changes in Equity76-77Consolidated Statement of Cash Flows78-80Notes to Financial Statements81-211Particulars of Properties212 Corporate Information BOARD OF DIRECTORS Executive Directors TAI Tak Fung, Stephen(Chairman)WU Mei Yung, Quinly(Vice Chairman)TAI Chun Kit(Managing Director)WU Wing BiuWONG Fu Hang, Derek (Appointed on 1 April 2022)MAN Wing Cheung, Ellis (Retired on 1 April 2022) Independent Non-executive Directors CHAN Yuk Sang, PeterTsunao KIJIMACHEUNG Wing Choi (Appointed on 1 April 2023)LEUNG Mei Han (Resigned on 1 April 2023) COMPANY SECRETARY YAM Wai Wah, Jenny (Appointed on 1 April 2022)MAN Wing Cheung, Ellis (Retired on 1 April 2022) AUDITOR 97927 Ernst & YoungCertified Public AccountantsRegistered Public Interest Entity Auditor27/F, One Taikoo Place979 King’s RoadQuarry Bay, Hong Kong PLACE OF INCORPORATION Cayman Islands PRINCIPAL SHARE REGISTRARAND TRANSFER OFFICE Sterling Trust (Cayman) LimitedWhitehall House238 North Church StreetP.O. Box 1043George TownGrand Cayman KY1-1102Cayman Islands Sterling Trust (Cayman) LimitedWhitehall House238 North Church StreetP.O. Box 1043George TownGrand Cayman KY1-1102Cayman Islands HONG KONG BRANCH SHAREREGISTRAR AND TRANSFEROFFICE 1617 Tricor Tengis Limited17/F, Far East Finance Centre16 Harcourt RoadHong Kong REGISTERED OFFICE Whitehall House238 North Church StreetP.O. Box 1043George TownGrand Cayman KY1-1102Cayman Islands Whitehall House238 North Church StreetP.O. Box 1043George TownGrand Cayman KY1-1102Cayman Islands PRINCIPAL PLACE OF BUSINESS INHONG KONG 23Manhattan Place 21 21/F., Manhattan PlaceNo. 23 Wang Tai RoadKowloon Bay, KowloonHong Kong PRINCIPAL BANKERS UFJKiraboshi Bank, Ltd Sumitomo Mitsui Banking CorporationMUFG Bank, Ltd.Mizuho Bank, Ltd.The Hongkong and Shanghai Banking Corporation LimitedBank of Communications (Hong Kong) LimitedOCBC Bank (Hong Kong) LimitedBank of China (Hong Kong) LimitedChina Construction Bank (Asia) Corporation LimitedUnited Overseas Bank LimitedThe Bank of East Asia, LimitedChong Hing Bank LimitedFubon Bank (Hong Kong) LimitedKiraboshi Bank, LtdHang Seng Bank Limited WEBSITE http://www.fourseasgroup.com.hk http://www.fourseasgroup.com.hk Chairman’s Statement During the year under review, the Group leveraged its agile strategiesand excellent brands to respond to the impact of the pandemic. In thelater part of the year under review, the business outlook graduallyimproved as the pandemic began to ease in various places resultingin Hong Kong lifting most pandemic restrictions and Mainland Chinaand Hong Kong resuming border crossings. The Group proactivelyseized post-pandemic business opportunities, aiming to achieve stableyet progressive growth while maintaining operational stability. Facinginflation, continued interest rate hikes and fluctuations in Japaneseyen exchange rate and other external factors, the Group’s businesscosts continued to rise during the year under review. But, leveragingits strong corporate strength and foundation, the Group adoptedappropriate measures to cope with the situation. After the Group’s full acquisition of Miyata Co., Ltd., a renownedJapanese snack and confectionery distributor, and its subsidiaries(“Miyata”), the Group leveraged Miyata’s wide range of snack andfood items to expand its business and further enhance synergies.Miyata’s products are popular in Hong Kong and Mainland China, andthe Group will continue to introduce more Miyata products to satisfycustomer demand in the two markets and consolidate brand strength.At the same time, with the aim of injecting business drivers for futuresustainable development, the Group will also tap into the Japanesemarket through Miyata, allowing Japanese customers to enjoy theGroup’s food products manufactured in Mainland China factories. Chairman’s Statement RESULTS 4,150,886,0004,729,976,00040,732,00012,634,000 Inthe annual results for the year ended 31 March 2023,theGroup’sconsolidated revenue was HK$4,150,886,000(2022:HK$4,729,976,000).The profit for the year attributable toequityholders of the Company stood at HK40,732,000(2022:HK$12,634,000). Revenue from the Mainland China and Japan segments during theyear, when converted into Hong Kong dollars, declined comparedto that of last year, partly due to the depreciation of the Renminbiand Japanese yen against the Hong Kong dollar. The Group’s profitwas eroded by the overall inflationary pressure in the businessenvironment. In the second half of the year under review, the cost ofsales as a percentage of revenue increased. But since the Group needstime to rais