WANG ON GROUP二零二三年年报

Corporate Information2Financial Highlights5Chairman’s Statement8Management Discussion and Analysis17Board of Directors and Senior Management53Corporate Governance Report60Report of the Directors94Independent Auditor’s Report128Consolidated Statement of Profit or Loss and140Other Comprehensive IncomeConsolidated Statement of Financial Position143Consolidated Statement of Changes in Equity146Consolidated Statement of Cash Flows148Notes to Financial Statements152Particulars of Key Properties381Five Year Financial Summary383 CORPORATE INFORMATION BOARD OF DIRECTORS Executive Directors Mr. Tang Ching Ho,GBS, JP,ChairmanMs. Yau Yuk Yin,Deputy ChairmanMs. Stephanie GBSStephanie Independent Non-executive Directors Mr. Wong Chun, Justein,BBS, MBE, JPMr. Siu Kam ChauMr. Chan Yung,BBS, JP BBS, MBEBBS AUDIT COMMITTEE BBS, MBEBBS Mr. Siu Kam Chau,chairmanMr. Wong Chun, Justein,BBS, MBE, JPMr. Chan Yung,BBS, JP REMUNERATION COMMITTEE BBS, MBEBBSGBS Mr. Wong Chun, Justein,BBS, MBE, JP,chairmanMr. Siu Kam ChauMr. Chan Yung,BBS, JPMr. Tang Ching Ho,GBS, JPMs. Yau Yuk Yin NOMINATION COMMITTEE GBSBBS, MBEBBS Mr. Tang Ching Ho,GBS, JP,chairmanMr. Wong Chun, Justein,BBS, MBE, JPMr. Siu Kam ChauMr. Chan Yung,BBS, JPMs. Yau Yuk Yin EXECUTIVE COMMITTEE GBSStephanie Mr. Tang Ching Ho,GBS, JP,chairmanMs. Yau Yuk YinMs. Stephanie CORPORATE INFORMATION (CONTINUED)公司資料（續） INVESTMENT COMMITTEE GBSStephanie Mr. Tang Ching Ho,GBS, JP,chairmanMr. Siu Kam ChauMs. Stephanie AUTHORISED REPRESENTATIVES GBSStephanie Mr. Tang Ching Ho,GBS, JPMs. Stephanie COMPANY SECRETARY Mr. Cheung Chin Wa Angus AUDITOR Ernst & YoungCertified Public AccountantsRegistered Public Interest Entity Auditor LEGAL ADVISERS Reed Smith Richards ButlerGallant PRINCIPAL BANKERS Bank of Communications (Hong Kong) LimitedBank SinopacChina CITIC Bank International LimitedChina Construction Bank (Asia) Corporation LimitedChina Everbright Bank Co., Ltd.Chiyu Banking Corporation Ltd.Chong Hing Bank LimitedDah Sing Bank, LimitedDBS Bank (Hong Kong) LimitedHang Seng Bank LimitedIndustrial and Commercial Bank of China (Asia) LimitedOCBC Wing Hang Bank LimitedO-Bank Co., LtdPing An Bank Co., Ltd.The Bank of East Asia, LimitedThe Hongkong and Shanghai Banking Corporation LimitedShanghai Pudong Development BankStandard Chartered Bank (HK) LimitedUnited Overseas Bank Limited CORPORATE INFORMATION (CONTINUED) REGISTERED OFFICE Clarendon House2 Church StreetHamilton HM 11Bermuda Clarendon House2 Church StreetHamilton HM 11Bermuda HEAD OFFICE AND PRINCIPAL PLACE OFBUSINESS IN HONG KONG 39323202 Suite 3202, 32/F., Skyline Tower39 Wang Kwong RoadKowloon BayKowloonHong Kong PRINCIPAL SHARE REGISTRAR AND TRANSFEROFFICE IN BERMUDA MUFG Fund Services (Bermuda) Limited4th floor NorthCedar House41 Cedar AvenueHamilton HM 12Bermuda MUFG Fund Services (Bermuda) Limited4th floor NorthCedar House41 Cedar AvenueHamilton HM 12Bermuda BRANCH SHARE REGISTRAR AND TRANSFEROFFICE IN HONG KONG 1617 Tricor Tengis Limited17/F, Far East Finance Centre16 Harcourt RoadHong Kong BOARD LOT 20,000 20,000 shares pr@wangon.com INVESTOR RELATIONSEmail: pr@wangon.com www.wangon.com HOMEPAGE www.wangon.com STOCK CODE 1222 1222 Wang On Group LimitedAnnual Report 2023 CAPITAL AND LIABILITIES資本及負債 ASSETS EMPLOYED佔用資產 As at 31 March 2023於二零二三年三月三十一日 As at 31 March 2023於二零二三年三月三十一日 EQUITY ATTRIBUTABLE TO OWNERSOF THE PARENT母公司權益持有人應佔權益 CHAIRMAN’S STATEMENT Dear Shareholders, 1222 On behalf of the board of directors (the “Board” or the“Directors”) of Wang On Group Limited (the “Company”, stockcode: 1222), I propose the annual chairman’s statement of theCompany and its subsidiaries (collectively the “Group”) for theyear ended 31 March 2023 (the “Year” or the “year underreview”). 3.1%21.7% During the year under review, the international communitygradually recovered its economic vitality as the COVID-19epidemic eased and various countries relaxed their controlmeasures over the epidemic. However, the pace of economicrecovery was slowed down due to incompleted restoration ofcross-border logistics and transportation and productivity insome regions. Fortunately, at the beginning of this year, theChinese government fully relaxed the epidemic control measuresand orderly opened up cross-border travel, which significantlyimproved the overall consumption desire and businessatmosphere in Mainland China economic activities became moreactive. The relaxation of cross-border travel and epidemic controlmeasures has also brought positive impact on Hong Kong’sretail and tourism-related industries. With the easing of theepidemic and the relaxation of various restrictions on gatheringsby the government, the business environment in Hong Kong hasgradually improved in the second half of last year. Mainland Chinareopening its border with Hong Kong in the first quarter of thisyear not only stimulated the recovery of the retail market, but alsoinjected confidence into the residentia