明辉国际2023年年报

CONTENTS 02Corporate Information04Highlights for the year ended31 December 202305Five Years Financial Summary06Key Shareholder Value Indices07Chairman’s Statement10Management Discussion and Analysis21Biographical Details ofDirectors and Senior Management24Directors’ Report 42Corporate Governance Report55Independent Auditor’s Report60Consolidated Balance Sheet62Consolidated Statement ofComprehensive Income63Consolidated Statement ofChanges in Equity64Consolidated Statement of Cash Flows65Notes to theConsolidated Financial Statements CORPORATE INFORMATION公 司 資 料 BOARD OF DIRECTORS Executive Directors:Mr. CHING Chi Fai(Chairman)Mr. CHING Chi KeungMr. LIU ZigangMr. CHING Tsun WahMr. KEUNG Kwok Hung Non-Executive Director:Ms. CHAN Yim Ching Independent Non-Executive Directors:Mr. HUNG Kam Hung AllanMr. NG Bo KwongMr. SUN Eric Yung TsonMr. KWONG Tony Wan Kit AUDIT COMMITTEE Mr. KWONG Tony Wan Kit(Chairman)Mr. HUNG Kam Hung AllanMr. NG Bo KwongMr. SUN Eric Yung Tson NOMINATION COMMITTEE Mr. CHING Chi Fai(Chairman)Mr. SUN Eric Yung TsonMr. KWONG Tony Wan Kit REMUNERATION COMMITTEE Mr. HUNG Kam Hung Allan(Chairman)Mr. CHING Chi FaiMr. NG Bo KwongMr. SUN Eric Yung TsonMr. KWONG Tony Wan Kit EXECUTIVE COMMITTEE Mr. CHING Chi Fai(Chairman)Mr. CHING Chi KeungMr. LIU ZigangMr. CHING Tsun WahMr. KEUNG Kwok Hung INVESTMENT COMMITTEE Mr. CHING Chi Fai(Chairman)Mr. KEUNG Kwok HungMr. KWONG Tony Wan Kit CHIEF FINANCIAL OFFICER ANDCOMPANY SECRETARY Mr. KEUNG Kwok HungCPA PRINCIPAL BANKERS Bank of China (Hong Kong) LimitedThe Hongkong and Shanghai BankingCorporation LimitedHang Seng Bank LimitedDBS Bank (Hong Kong) Limited CORPORATE INFORMATION (CONTINUED)公 司 資 料（ 續 ） AUDITOR PricewaterhouseCoopersCertified Public AccountantsRegistered Public Interest Entity Auditor22/F, Prince’s BuildingCentralHong Kong PRINCIPAL SHARE REGISTRAR ANDTRANSFER OFFICE IN THE CAYMAN ISLANDS Suntera (Cayman) LimitedSuite 3204, Unit 2A, Block 3, Building DP.O. Box 1586, Gardenia Court, Camana BayGrand Cayman, KY1-1100Cayman Islands Suntera (Cayman) LimitedSuite 3204, Unit 2A, Block 3, Building DP.O. Box 1586, Gardenia Court, Camana BayGrand Cayman, KY1-1100Cayman Islands BRANCH SHARE REGISTRAR INTHE HONG KONG SPECIAL ADMINISTRATIVEREGION OF THE PEOPLE’S REPUBLIC OF CHINA(THE “PRC”)(“HONG KONG”) 18317M Computershare Hong Kong Investor Services LimitedInvestors’ enquiries:17M FloorHopewell Centre183 Queen’s Road East, WanchaiHong Kong 183171712–1716 Transfer of shares:Shops 1712–1716, 17th FloorHopewell Centre183 Queen’s Road East, WanchaiHong Kong PO Box 309Ugland HouseGrand Cayman, KY1-1104Cayman Islands REGISTERED OFFICE PO Box 309Ugland HouseGrand Cayman, KY1-1104Cayman Islands HEAD OFFICE AND PRINCIPAL PLACEOF BUSINESS IN HONG KONG 3TML8D3 Unit D3, 8/F, TML TowerNo. 3 Hoi Shing RoadTsuen Wan, New TerritoriesHong Kong PRINCIPAL PLACE OF BUSINESS IN THE PRC Ming Fai Industrial EstateBainikeng, Pinghu, LonggangShenzhen, the PRC www.mingfaigroup.com WEBSITEwww.mingfaigroup.com 03828 STOCK CODE03828 HIGHLIGHTS FOR THE YEAR ENDED 31 DECEMBER 2023截 至 二 零 二 三 年 十 二 月 三 十 一 日 止 年 度 之 摘 要 15.3%2,067.31,793.0 •Revenue increased 15.3% to approximately HK$2,067.3 million( f o r t h e y e a r e n d e d 31 D e c e m b e r 2022: a p p r o x i m a t e l yHK$1,793.0 million).• •18.1%501.7424.8 •Gross profit increased 18.1% to approximately HK$501.7million (for the year ended 31 December 2022: approximatelyHK$424.8 million). •Gross profit margin increased 0.6 percentage points to 24.3%(for the year ended 31 December 2022: 23.7%). •0.624.3%23.7% •Operating profit was approximately HK$144.1 million (for theyear ended 31 December 2022: approximately HK$91.8 million).• 144.191.8 •Profit attributable to owners of the Company was approximatelyHK$104.2 million (for the year ended 31 December 2022:approximately HK$75.5 million).• 104.275.5 •5.02.07.04.048.6%38.5% •A proposed final dividend in respect of the year ended 31December 2023 of HK5.0 cents per share of the Company (the“Share”) was recommended, together with the interim dividendof HK2.0 cents per Share for the six months ended 30 June2023 was declared, representing a total dividend of HK7.0cents per Share (for the year ended 31 December 2022: HK4.0cents per Share) and the annual dividend payout ratio of 48.6%(for the year ended 31 December 2022: 38.5%). KEY SHAREHOLDER VALUE INDICES主 要 股 東 價 值 指 標 CHAIRMAN’S STATEMENT主 席 報 告 Dear Shareholders, O n b e h a l f o f M i n g F a i I n t e r n a t i o n a l H o l d i n g s L i m i t e d ( t h e“Company”) and its subsidiaries (collectively, the “Group”), I ampleased to present the audited annual results of the Group for theyear ended 31 December 2023. 88%1390%65%62%STR 2023 was a year with both challenges and opportunities. The globaleconomy has been affected by factors such as high inflation pressure,continuous interest rate hikes by central banks of many countries andhigh interest rates, which have intensifi