世纪集团国际年报 2024

CONTENTS Corporate Information2Financial Highlights4Chairman’s Statement6Management Discussion and Analysis8Biographical Details of Directors13Corporate Governance Report16Report of Directors34Independent Auditor’s Report46Consolidated Statement of Profit or Loss and Other Comprehensive Income51Consolidated Statement of Financial Position52Consolidated Statement of Changes in Equity53Consolidated Statement of Cash Flows55Notes to the Consolidated Financial Statements57 CORPORATE INFORMATION BOARD OF DIRECTORS Executive DirectorsMr. Wang Feng(Chairman)Mr. Man Wai Lun Independent Non-executive DirectorsMr. Law, Michael Ka MingMr. Chung Man LaiMs. Lam Yuen Man Maria AUDIT COMMITTEE Ms. Lam Yuen Man Maria(Chairman)Mr. Law, Michael Ka MingMr. Chung Man Lai REMUNERATION COMMITTEE Mr. Law, Michael Ka Ming(Chairman)Mr. Chung Man LaiMs. Lam Yuen Man Maria NOMINATION COMMITTEE Mr. Chung Man Lai(Chairman)Mr. Law, Michael Ka MingMs. Lam Yuen Man Maria COMPANY SECRETARY Mr. Lee Cheuk Man AUTHORISED REPRESENTATIVES Mr. Man Wai LunMr. Lee Cheuk Man HEADQUARTER AND PRINCIPAL PLACE OFBUSINESS IN HONG KONG 316D Office D, 16/FKings Wing Plaza 1No. 3 On Kwan StreetShek MunNew TerritoriesHong Kong HONG KONG BRANCH SHARE REGISTRARAND TRANSFER OFFICE 1617 Tricor Investor Services Limited17/F, Far East Finance Centre16 Harcourt RoadHong Kong PRINCIPAL BANK Shanghai Commercial Bank Ltd. AUDITOR 183212110–2111 CWK CPA LimitedCertified Public AccountantsRegistered Public Interest Entity AuditorsUnit 2110–2111, 21/F, Cosco Tower183 Queen’s Road CentralCentral, Hong Kong www.centurygroup.com.hk COMPANY WEBSITE www.centurygroup.com.hk STOCK CODE 21132113 Current liabilitiesAmount due to a shareholderTrade and other payablesOther short-term borrowingAmounts due to a director of a subsidiaryProvisionsContract liabilitiesLease liabilitiesTax payable CHAIRMAN’S STATEMENT Dear shareholders, — On behalf of the board (the “Board”) of directors (the “Directors”) ofCentury Group International Holdings Limited (the “Company”), it givesme great pleasure to present you the audited financial statements of theCompany and its subsidiaries (collectively referred to as the “Group”) forthe year ended 31 March 2024 (the “Reporting Period”). FINANCIAL REVIEW 21 With more than 21 years of experience as a subcontractor providingsite formation works in Hong Kong (“Construction Segment”), the Groupalways maintains its professional technical standards to undertake siteformations works such as general earthworks, tunnel excavation works,foundation works, as well as road and drainage works. The Group has been facing increasing costs of operation, including costof direct labour and subcontracting charges as well as keen competitionin the market. The Group will still focus on site formation works in theHong Kong construction industry in Hong Kong. The Group will continueto strengthen the competitive edge of the Group over competitors in theconstruction industry in order to increase shareholders’ return. The Group discontinued the business of trading of Liquefied Natural Gas(“LNG”) in the People’s Republic of China (“PRC”) (“Trading Segment”)during the Reporting Period. 47,500,000132,400,00084,900,00064.1% For the Reporting Period, the revenue of the Group was approximatelyHK$47.5 million, a decrease by approximately HK$84.9 million or 64.1%as compared to the last year (2023: approximately HK$132.4 million). HONG KONG PROJECTS 113547,500,000127,200,000 Forthe Reporting Period,the Group was awarded 1(2023:1)newprojects together with 3 (2023: 5) prior years’ projects brought forwardwhich recorded the turnover of approximately HK$47.5 million (2023:approximately HK$127.2 million). Such decrease was mainly attributabletoless projects awarded and projects brought forward substantiallycompleted during the Reporting Period. 5,400,00022,800,000 TheGroup sustained a net gross loss approximately HK$5.4 million(2023: approximately HK$22.8 million). It was due to the increase in costof sales resulting from the unexpected increase in material cost in aconstruction project. The Group has been actively monitoring market conditions and takingappropriate measures to mitigate the impact resulted from unfavorablemarketfactors.The Group continues to strengthen its cost controlmeasures and resources management policies, and actively participatein tendering and bidding to maintain its market competitiveness despitethe difficulties encountered. PRC BUSINESS 5,200,000 Duringthe Reporting Period,the Group discontinued the TradingSegmentbusiness and recorded nil turnover(2023:approximatelyHK$5.2 million). The rapid growth of dependence on LNG has led to increased marketvolatility,and the foundation for obtaining a stable and adequategas source is still weak. Seasonal gas demand differences in NorthChina have led to great peak shaving demand, leading to continuousexpansion of seasonal and regional supply conflicts. The market discountmechan