WANG ON GROUP二零二四年年报

CORPORATE INFORMATION BOARD OF DIRECTORS Executive Directors GBSStephanie Mr. Tang Ching Ho,GBS, JP,ChairmanMs. Yau Yuk Yin,Deputy ChairmanMs. Stephanie Independent Non-executive Directors BBS, MBEBBS Mr. Wong Chun, Justein,BBS, MBE, JPMr. Siu Kam ChauMr. Chan Yung,BBS, JP 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 GBSStephanie AUTHORISED REPRESENTATIVES 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 of DongguanBank SinopacChina Construction Bank (Asia) Corporation LimitedChiyu Banking Corporation Ltd.Chong Hing Bank LimitedCTBC Bank Co., Ltd.Dah Sing Bank, LimitedDBS Bank (Hong Kong) LimitedHang Seng Bank LimitedIndustrial and Commercial Bank of China (Asia) LimitedO-Bank Co., LtdPing An Bank Co., Ltd.Shanghai Pudong Development BankTaiwan Shin Kong Commercial Bank Co., LtdThe Bank of East Asia, LimitedThe Hongkong and Shanghai Banking Corporation 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 12 Bermuda MUFG Fund Services (Bermuda) Limited4th floor NorthCedar House41 Cedar AvenueHamilton HM 12 Bermuda BRANCH SHARE REGISTRAR AND TRANSFEROFFICE IN HONG KONG 1617 Tricor Tengis Limited17/F, Far East Finance Centre16 Harcourt RoadHong Kong 20,000 BOARD LOT20,000 shares pr@wangon.com INVESTOR RELATIONSEmail: pr@wangon.com www.wangon.com HOMEPAGEwww.wangon.com STOCK CODE 1222 1222 FINANCIAL HIGHLIGHTS FINANCIAL HIGHLIGHTS (CONTINUED) HK$ million 百萬港元 FINANCIAL HIGHLIGHTS (CONTINUED)財務撮要（續） CAPITAL AND LIABILITIES資本及負債 ASSETS EMPLOYED佔用資產 As at 31 March 2024於二零二四年三月三十一日 As at 31 March 2024於二零二四年三月三十一日 EQUITY ATTRIBUTABLE TO OWNERSOF THE PARENT母公司權益持有人應佔權益 HK$ million百萬港元 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”, stock code: 1222),I present the annual chairman’s statement of the Company andits subsidiaries (collectively the “Group”) for the year ended 31March 2024 (the “Year” or the “year under review”). 39.4%45,05013.8% The pace of recovery following the easing of pandemicrestrictions and the reopening of borders in early 2023 fell shortof expectations. The implementation of higher interest rates hasresulted in a significant number of investors exiting the market.According to data from the Land Registry, the total number ofresidential transactions in 2023 decreased by 39.4% comparedto the previous year, amounting to 45,050 units. Furthermore,the Hang Seng Index experienced a decline of 13.8% in 2023,marking the fourth consecutive year of decline. 2.7%2.3% The economy of Hong Kong experienced a moderate expansionduring the initial quarter of 2024. As per the preliminaryassessments, the real Gross Domestic Product (GDP) witnesseda growth of 2.7% in comparison to the corresponding periodof the previous year. Furthermore, when adjusted for seasonalfluctuations, the real GDP exhibited a quarter-on-quarter increaseof 2.3%. Hong Kong’s advantageous geographical location as a bridgebetween the Greater Bay Area, mainland China, and the globalcommunity continues to bring long-term benefits. In order toenhance its competitiveness, the government has implementedvarious initiatives to attract international businesses, investments,and skilled individuals, thereby fostering growth and development. 5.2% On the other hand, mainland China experienced a positivereal GDP growth of 5.2% in 2023, indicating an improvementcompared to the previous year. In February 2024, the Hong Kong government eliminated allmeasures aimed at managing demand for residential properties.Moving forward, the housing policies and trends in interest rateswill continue to play a significant role in shapin