普汇中金国际2024 年报

(Incorporated in Bermuda with limited liabilityHKSE Stock Code0997 2Corporate Information公司資料4Chairman’s Statement主席報告7Financial Highlights財務摘要8Financial Summary財務概要9Management Discussion and Analysis管理層討論及分析28Directors and Senior Management董事及高級管理人員33Corporate Governance Report企業管治報告66Directors’ Report董事會報告 86Independent Auditors’ Report獨立核數師報告91Consolidated Statement of Profit or Loss and Other Comprehensive Income綜合損益及其他全面收益表94Consolidated Statement of Financial Position綜合財務狀況表96Consolidated Statement of Changes in Equity綜合權益變動表99Consolidated Statement of Cash Flows綜合現金流量表104Notes to the Consolidated Financial Statements綜合財務報表附註368Group Properties集團物業 Corporate Information公 司 資 料 執行董事 EXECUTIVE DIRECTORS 李偉斌先生 ，主席兼董事總經理蕭偉業先生劉智傑先生（於二零二三年五月十九日辭任） Mr. Li Weibin,Chairman and Managing DirectorMr. Siu Wai YipMr. Lau Chi Kit(resigned on 19 May 2023) NON-EXECUTIVE DIRECTOR 非執行董事 林永耀先生（於二零二三年五月十九日獲委任） Mr. Lam Wing Yiu(appointed on 19 May 2023) 獨立非執行董事 INDEPENDENT NON-EXECUTIVE DIRECTORS Dr. Ho Chung Tai, RaymondMs. Lai Ka Fung, MayMs. Chan Sim Ling, Irene 何鍾泰博士黎家鳳女士陳嬋玲女士 COMPANY SECRETARYMs. Lau Wai Har 公司秘書 劉慧霞女士 註冊辦事處 REGISTERED OFFICE Clarendon House2 Church StreetHamilton HM 11Bermuda Clarendon House2 Church StreetHamilton HM 11Bermuda 總辦事處及香港主要營業地點 HEAD OFFICE AND PRINCIPAL PLACE OFBUSINESS IN HONG KONG Suite 1203, 12/F., Standard Chartered Bank Building4-4A Des Voeux Road CentralCentral, Hong Kong 香港中環德輔道中4-4A號渣打銀行大廈12樓1203室 主要往來銀行 PRINCIPAL BANKERS 香港上海滙豐銀行有限公司星展銀行（香港）有限公司中國民生銀行股份有限公司中國工商銀行股份有限公司中國工商銀行（亞洲）有限公司西安銀行股份有限公司寧夏銀行股份有限公司長安銀行股份有限公司陝西秦農農村商業銀行股份有限公司 The Hongkong and Shanghai Banking Corporation LimitedDBS Bank (Hong Kong) LimitedChina Minsheng Banking Corporation LimitedIndustrial and Commercial Bank of China LimitedIndustrial and Commercial Bank of China (Asia) LimitedBank of Xi’an Company LimitedBank of Ningxia Company LimitedBank of Chang’an Company LimitedShaanxi Qinnong Rural Commercial Bank Company Limited PRINCIPAL SHARE REGISTRAR ANDTRANSFER OFFICE 主要股份過戶登記處 Ocorian Management (Bermuda) LimitedVictoria Place, 5th Floor31 Victoria StreetHamilton HM10Bermuda Ocorian Management (Bermuda) LimitedVictoria Place, 5th Floor31 Victoria StreetHamilton HM10Bermuda 香港股份過戶登記分處 HONG KONG BRANCH SHARE REGISTRARAND TRANSFER OFFICE 卓佳標準有限公司香港夏慤道16號遠東金融中心17樓 Tricor Standard Limited17/F, Far East Finance Centre16 Harcourt RoadHong Kong 核數師 AUDITOR 國衛會計師事務所有限公司執業會計師 HLB Hodgson Impey Cheng LimitedCertified Public Accountants 法律顧問 LEGAL ADVISERS 李智聰律師事務所 Michael Li & Co. Chairman's Statement主 席 報 告 The People’s Republic of China (the “PRC” or “China”) isencountering unprecedented global and economic challengesduring the year ended 31 March 2024 (the “Year”). Itsmuch-hailed reopening in early 2023 after three years oflockdown did not generate the economic rebound that wehoped for. There are doubts about the strength of China’srecovery.The growing geopolitical tensions and tradefrictions continue to put off investors, capital outflows amidweakening foreign investor confidence are valid concerns. 於截至二零二四年三月三十一日止年度（「本年度」），中華人民共和國（「中國」）正面臨前所未有的全球及經濟挑戰 。在經歷三年封鎖後 ，中國於二零二三年初在一片歡呼中重新開放 ，但並沒有產生我們希望的經濟反彈 。中國復甦的力度令人懷疑 。日益加劇的地緣政治緊張局勢及貿易摩擦繼續令投資者望而卻步 ，在外國投資者信心減弱的情況下 ，資本外流是合理的擔憂 。 Consumption has become the country’s engine of growthsince restrictions were lifted. Monetary easing and increasedgovernment spending on infrastructure have also boostedgrowth.However the prolonged property slowdowncontinues to weigh heavily on consumer confidence, sincereal estate accounts for a large proportion of householdwealth in China. 自限制解除以來 ，消費已成為中國的增長引擎 。寬鬆的貨幣政策和政府基礎設施支出的增加亦促進了經濟增長 。但房地產市場長期放緩繼續嚴重拖累消費者信心 ，因為房地產佔中國家庭財富的比例很大 。 However, the disappointing performance was at least inpart cushioned by the Chinese government’s moves sinceJuly 2023 to ramp up stimulus intended to stabilise theproperty sector and defuse local government debt risks.Thegovernment is expected to continue implementingeconomicand monetary policies to maintain a stableinvestment environment, fostering investor confidence andlocal consumption. 然而 ，令人失望的表現至少在一定程度上因自二零二三年七月以來中國政府為穩定房地產行業及化解地方政府債務風險而加大刺激力度所緩解 。預計政府將繼續實施經濟及貨幣政策 ，以維持穩定的投資環境 ，促進投資者信心及本地消費 。 During the Coronavirus Disease 2019 (“COVID-19”) of thelast three years, Chinlink International Holdings Limited (the“Company” or “Chinlink”) and its subsidiaries (collectivelyreferred to as the “Group”) has adopted a conservativebusiness approach. We have deleveraged the real estateinvestment and downsized financial business operations,which are highly exposed to market volatility. Actions takenincluded disposals of Chinlink International Centre (the“CIC”) to hedge against rising interest costs and uncertaintyof the commercial real estate market in China. The Groupdisposedits majority stake in MCM Holdings Limited(“MCM”) and its subsidiaries (collectively referred to asthe “MCM Group”), a boutique investment bank specialisedin the advisory of foreign investment in China ve