顺兴集团控股2023-24中期报告

2023-24Interim Report CONTENTS 2Corporate Information4Management Discussion and Analysis12Corporate Governance and Other Information17Report on Review of Condensed Consolidated Financial Statements19Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income20Condensed Consolidated Statement of Financial Position22Condensed Consolidated Statement of Changes in Equity23Condensed Consolidated Statement of Cash Flows24Notes to the Condensed Consolidated Financial Statements Corporate Information BOARD OF DIRECTORS Executive Directors Mr. 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 • Deloitte Touche TohmatsuCertified Public AccountantsRegistered Public Interest Entity Auditors 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 Management Discussion and Analysis SH Group (Holdings) Limited (the “Company”) and its subsidiaries (collectivelyreferred to as the “Group”) are principally engaged in providing electrical andmechanical engineering (“E&M engineering”) services in Hong Kong. We provideservices in relation to the supply, installation and maintenance of mechanicalventilation and air-conditioning system (“MVAC system”), and also provideservices in relation to low voltage electrical system and other E&M systems,including fire services system, plumbing and drainage system in both private andpublic sectors. BUSINESS REVIEW 49,0002,8905.9%46,110 Our revenue decreased by approximately HK$28.9 million, or 5.9%, fromapproximately HK$490.0 million for the six months ended 30 September 2022(the “Last Period”) to approximately HK$461.1 million for the six months ended30 September 2023 (the “Current Period”). Major projects awarded and majorprojects undertaken in the Current Period are outlined below. Projects awarded in the Current Period 3315,84018,550 During the Current Period, we were awarded 3 projects (2022: 3) with anaggregate contract sum of approximately HK$158.4 million (2022: HK$185.5million), which were related to MVAC system installation. The following table sets forth the particulars of the projects awarded in theCurrent Period in terms of contract sum: Management Discussion and Analysis Major projects undertaken in the Current Period 60.6%39.4%80.0%20.0% During the Current Period, the Group continued to focus its efforts on thesupply, installation and maintenance of MVAC system and low voltage electricalsystem. Revenue contributed by projects relating to MVAC system and lowvoltage electrical system accounted for approximately 60.6% and 39.4%respectively for the Current Period (2022: 80.0% and 20.0%). The following table sets for th the par ticulars of the five largest projectsundertaken in the Current Period in terms of revenue contribution: Management Discussion and Analysis Recent development and future prospects 3,870 Subsequent to the end of the Current Period and up to the date of this interimrepor t, we were awarded a project with a contract sum of approximatelyHK$38.7 million, which was related to the MVAC system installation. The global economy has continued to face a slow post-pandemic recovery andthis affects various industries. In the past year, construction and E&M engineeringservices companies have faced numerous challenges, including high interestrate environment, manpower constraints, elevated inflation of materials andsupply chain disruptions which are hindering the recovery. In this challengingenvironment, the tendering for new private development projects is expected toreduce as property developers are more cauti