民商创科2024年报

2024Annual Report ContentsContents Corporate Information2Chairman’s Statement4Management Discussion and Analysis6Biographies of Directors and Senior Management21Corporate Governance Report25Environmental, Social and Governance Report47Directors’ Report78Independent Auditor’s Report92Consolidated Statement of Profit or Loss andOther Comprehensive Income99Consolidated Statement of Financial Position101Consolidated Statement of Changes in Equity103Consolidated Statement of Cash Flows104Notes to the Consolidated Financial Statements105Five-Year Financial Summary200 Corporate Information EXECUTIVE DIRECTORS Mr. WU Jiangtao(Chairman)Mr. TAO Jingyuan(Chief Executive Officer)Mr. LAI Xiaopeng Michael INDEPENDENT NON-EXECUTIVE DIRECTORS Mr. CHOI Tze Kit, SammyMr. CHEUNG MiuMr. CHEUNG Pak To COMPANY SECRETARY 20243182024318 Ms. KWAN Sau In(Appointed on 18 March 2024)Ms. LI Yan Wing Rita(Resigned on 18 March 2024) AUTHORISED REPRESENTATIVES Mr. LAI Xiaopeng MichaelMs. KWAN Sau In AUDIT COMMITTEE Mr. CHOI Tze Kit, Sammy(Chairman)Mr. CHEUNG MiuMr. CHEUNG Pak To REMUNERATION COMMITTEE Mr. CHEUNG Miu(Chairman)Mr. WU JiangtaoMr. CHEUNG Pak To NOMINATION COMMITTEE Mr. WU Jiangtao(Chairman)Mr. CHEUNG MiuMr. CHEUNG Pak To REGISTERED OFFICE Cricket Square, Hutchins DrivePO Box 2681Grand Cayman, KY1-1111Cayman Islands Cricket Square, Hutchins DrivePO Box 2681Grand Cayman, KY1-1111Cayman Islands HEADQUARTERS AND PRINCIPAL PLACE OFBUSINESS IN HONG KONG 89424201 Unit 4201, 42/FTower One Lippo Centre89 Queensway, Admiralty, Hong Kong PRINCIPAL SHARE REGISTRAR ANDTRANSFER OFFICE Conyers Trust Company (Cayman) LimitedCricket Square, Hutchins DrivePO Box 2681Grand Cayman, KY1-1111Cayman Islands Conyers Trust Company (Cayman) LimitedCricket Square, Hutchins DrivePO Box 2681Grand Cayman, KY1-1111Cayman Islands HONG KONG BRANCH SHARE REGISTRAR ANDTRANSFER OFFICE 1617 Tricor Investor Services Limited17/F, Far East Finance Centre16 Harcourt Road, Hong Kong INDEPENDENT AUDITOR Elite Partners CPA LimitedCertified Public AccountantsRegistered Public Interest Entity Auditor PRINCIPAL BANKERS Hang Seng Bank LimitedChina Minsheng Banking Corp., Ltd 1632 STOCK CODE 1632 www.minshangct.com WEBSITE www.minshangct.com Chairman’s Statement TO OUR SHAREHOLDERS On behalf of the board of directors (the “Board”) of MinshangCreative Technology Holdings Limited (the “Company”, togetherwith its subsidiaries, the “Group”), I hereby present the annual resultsof the Group for the year ended 31 March 2024, together with thecomparative information for the year ended 31 March 2023. 20243312023331 BUSINESS REVIEW Looking back at the year past, after the pandemic ravaging all over theworld for more than 3 years, Hong Kong and the People’s Republicof China (the “PRC”) has finally gone back to normal. However, therecovery of global economy, including Hong Kong and the domesticeconomy of the PRC remain challenging due to the rise tension of thegeographical politics, change of policies from different nations and thedownturn of the housing and equity market in Hong Kong and the PRC,which has greatly affected the confidence of the customers in investingand the desire in consuming. Nevertheless, the Group enhanced its efforts in business adjustmentand transformation, and gave greater focus on new developmentstrategies, which allowed itself to strike a balance between the existingbusiness and to develop new business opportunities. 20243318.035.6202386.8%4,068.9% During the year ended 31 March 2024, the Group has recorded totalrevenue from continuing operations of approximately HK$8.0 million andloss attributable to the Shareholders of the Company from continuingoperations of approximately HK$35.6 million which represented 86.8%decrease and 4,068.9% decrease, respectively, as compared to thecorresponding period in 2023. PROSPECTS In order to cope with the ever-changing external environment, theCompany plans to consolidate its resource and focus on the existingbusinesses, at the same time keep exploring for new profit drivers.Looking ahead, we believe that the domestic economy in the PRCand Hong Kong is gradually recovering, while moving along the pathto normalcy, in particular the government of the PRC and Hong Kongintroduced certain incentives and promotions to stimulate economy, weremain optimistic on the Group’s long-term prospects. Digital economy and intellectual economy have become thesocioeconomic development direction, and the IT industry is nowundermining how businesses are being promoted and developedmore than ever. The Group wishes to focus on the development of ourexisting IT Solution Business, while exploring business opportunities toopen up new horizons. Chairman’s Statement 2023 At present, environmental sustainability development is one of the mosttrending topics globally, especially following the signing of the “ParisAgreement”, countries all over the world have reached a consensus oncontributing in vari