四洲集团2024年报

Contents目 錄 Corporate Information2-3Chairman’s Statement4-15Major Awards16-18Management Discussion and Analysis19-26Report of the Directors27-40Corporate Governance Report41-62Independent Auditor’s Report63-70Audited Financial StatementsConsolidated Statement of Profit or Loss71Consolidated Statement of Comprehensive Income72Consolidated Statement of Financial Position73-74Consolidated Statement of Changes in Equity75-76Consolidated Statement of Cash Flows77-79Notes to Financial Statements80-207Particulars of Properties208 Corporate Information BOARD OF DIRECTORS Executive Directors TAI Tak Fung, Stephen(Chairman)WU Mei Yung, Quinly(Vice Chairman)TAI Chun Kit(Managing Director)WU Wing BiuWONG Fu Hang, Derek Independent Non-executive Directors CHAN Yuk Sang, PeterTsunao KIJIMACHEUNG Wing Choi (Appointed on 1 April 2023)LEUNG Mei Han (Resigned on 1 April 2023) COMPANY SECRETARY YAM Wai Wah, Jenny AUDITOR 97927 Ernst & YoungCertified Public AccountantsRegistered Public Interest Entity Auditor27/F, One Taikoo Place979 King’s RoadQuarry Bay, Hong Kong PLACE OF INCORPORATION Cayman Islands PRINCIPAL SHARE REGISTRARAND TRANSFER OFFICE Sterling Trust (Cayman) LimitedWhitehall House238 North Church StreetP.O. Box 1043George TownGrand Cayman KY1-1102Cayman Islands Sterling Trust (Cayman) LimitedWhitehall House238 North Church StreetP.O. Box 1043George TownGrand Cayman KY1-1102Cayman Islands HONG KONG BRANCH SHAREREGISTRAR AND TRANSFEROFFICE 1617 Tricor Tengis Limited17/F, Far East Finance Centre16 Harcourt RoadHong Kong REGISTERED OFFICE JTC (Cayman) Limited94 Solaris Avenue2nd Floor, Camana BayP.O. Box 30745Grand Cayman KY1-1203Cayman Islands JTC (Cayman) Limited94 Solaris Avenue2nd Floor, Camana BayP.O. Box 30745Grand Cayman KY1-1203Cayman Islands PRINCIPAL PLACE OF BUSINESS INHONG KONG 23Manhattan Place 21 21/F., Manhattan PlaceNo. 23 Wang Tai RoadKowloon Bay, KowloonHong Kong PRINCIPAL BANKERS UFJKiraboshi Bank, Ltd Sumitomo Mitsui Banking CorporationMUFG Bank, Ltd.Mizuho Bank, Ltd.The Hongkong and Shanghai Banking Corporation LimitedBank of Communications (Hong Kong) LimitedOCBC Bank (Hong Kong) LimitedBank of China (Hong Kong) LimitedChina Construction Bank (Asia) Corporation LimitedUnited Overseas Bank LimitedThe Bank of East Asia, LimitedChong Hing Bank LimitedFubon Bank (Hong Kong) LimitedKiraboshi Bank, LtdHang Seng Bank Limited WEBSITE http://www.fourseasgroup.com.hk http://www.fourseasgroup.com.hk Chairman’s Statement During the year under review, the global economy continued toadjust, geopolitical tensions remained high, the business environmentwas challenging, and the consumer market was weak. With itsstrong capabilities and proactive planning, the Group successfullyimplemented measures to cope with these challenges, leading to stablebusiness development. 2020 The Group continued actively to expand its diversified developmentin the markets of Hong Kong, Chinese Mainland and Japan, andmaintained its leading position in the industry in Hong Kong. InChinese Mainland, the Group supported the development plan ofthe Guangdong-Hong Kong-Macao Greater Bay Area, expandingits business in the region to drive food business development inHong Kong, Macau, other Greater Bay Area cities, and acrossChina, shaping the food consumption patterns in the region. InJapan, following the acquisition in 2020 of the long-establishedJapanese snack and confectionery distributor, Miyata Co., Ltd.(“Miyata”), the Group successfully achieved synergy, introducingunique Japanese products to Hong Kong and other Greater BayArea cities while leveraging Miyata’s brand effect to promote HongKong and Mainland-produced food in the Japanese market, enablinglocal customers to enjoy food from different regions, and therebystrengthening the Group’s capabilities. Chairman’s Statement RESULTS 3,898,222,0004,150,886,00034,657,00040,732,000 In the annual results for the year ended 31 March 2024, theGroup’s consolidated revenue was HK$3,898,222,000 (2023:HK$4,150,886,000). The profit for the year attributable to equityholders of the Company was HK$34,657,000 (2023: HK$40,732,000). 39,000,00021,000,000 During the year under review, although the consumer market in HongKong was weak, the Group was benefited from its forward-lookingstrategy in retail and wholesale business, and the overall performancemet expectations. In Chinese Mainland and Japan, growth in localconsumer market demand slowed, affecting the Group’s revenue.Nevertheless, excluding the one-off net tax refunds of approximatelyHK$39,000,000 received by Miyata in Japan last year and thepandemic relief subsidy of approximately HK$21,000,000 fromthe Hong Kong government in the same period, the Group’s profitattributable to shareholders from its core business actually improvedcompared to that of last year. This was due to the popularity ofthe Group’s products and services among consumers, highlightingits competitive advantages, consolidating its market pos