顺兴集团控股2024-25中期报告

(Incorporated in the Cayman Islands with limited liability)STOCK CODE1637  CONTENTS 2Corporate Information4Management Discussion and Analysis11Corporate Governance and Other Information16Report on Review of Condensed Consolidated Financial Statements18Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income19Condensed Consolidated Statement of Financial Position21Condensed Consolidated Statement of Changes in Equity22Condensed Consolidated Statement of Cash Flows23Notes to the Condensed Consolidated Financial Statements Corporate Information BOARD OF DIRECTORS Executive DirectorsMr. Yu Cheung Choy(Chairman)Mr. Lau Man Ching(Chief Executive Officer)Mr. Yu Ho Chi Independent Non-executive Directors Mr. Lam Yim NamMr. Lee Wing KeeDr. Law Man Wah AUDIT COMMITTEE Dr. Law Man Wah(Chairman)Mr. Lam Yim NamMr. Lee Wing Kee REMUNERATION COMMITTEE Mr. Lam Yim Nam(Chairman)Mr. Lee Wing KeeDr. Law Man Wah NOMINATION COMMITTEE Mr. Lee Wing Kee(Chairman)Mr. Lam Yim NamDr. Law Man Wah FCG, HKFCG COMPANY SECRETARYMr. Tse Kam FaiFCG, HKFCG AUTHORISED REPRESENTATIVESMr. Yu Cheung ChoyMr. Lau Man Ching REGISTERED OFFICE Cricket Square, Hutchins DriveP.O. Box 2681Grand Cayman KY1-1111Cayman Islands Cricket Square, Hutchins DriveP.O. Box 2681Grand Cayman KY1-1111Cayman Islands H E A DO F F I C E A N D P R I N C I PA L P L AC E O F B U S I N E S S I NHONG KONG 8336603-606 Units 603-606, 6/F, Tower ICheung Sha Wan Plaza833 Cheung Sha Wan RoadKowloonHong Kong PRINCIPAL SHARE REGISTRAR AND TRANSFER OFFICE IN THECAYMAN ISLANDS Conyers Trust Company (Cayman) LimitedCricket Square, Hutchins DriveP.O. Box 2681Grand Cayman KY1-1111Cayman Islands Conyers Trust Company (Cayman) LimitedCricket Square, Hutchins DriveP.O. Box 2681Grand Cayman KY1-1111Cayman Islands B R A N C H S H A R E R E G I S T R A R A N D T R A N S F E R O F F I C E I NHONG KONG 1617 Tricor Investor Services Limited17/F, Far East Finance Centre16 Harcourt RoadHong Kong INDEPENDENT AUDITOR • Deloitte Touche TohmatsuCertified Public AccountantsRegistered Public Interest Entity Auditors PRINCIPAL BANKS Bank of China (Hong Kong) LimitedHang Seng BankShanghai Commercial BankThe Bank of East Asia 1637 STOCK CODE1637 www.shunhingeng.com COMPANY’S WEBSITEwww.shunhingeng.com Management Discussion and Analysis SH Group (Holdings) Limited (the “Company”) and its subsidiaries (collectivelyreferred to as the “Group”) are principally engaged in providing electrical andmechanical engineering (“E&M engineering”) services in Hong Kong. We provideservices in relation to the supply, installation and maintenance of mechanicalventilation and air-conditioning system (“MVAC system”), and also provide servicesin relation to low voltage electrical system and other E&M systems, including fireservices system, plumbing and drainage system in both private and public sectors. BUSINESS REVIEW 46,11013,11028.4%33,000 Our revenue decreased by approximately HK$131.1 million, or 28.4%, fromapproximately HK$461.1 million for the six months ended 30 September 2023(the “Last Period”) to approximately HK$330.0 million for the six months ended30 September 2024 (the “Current Period”). Major projects awarded and majorprojects undertaken in the Current Period are outlined below. Projects awarded in the Current Period 33193015,840 During the Current Period, we were awarded 3 projects (2023: 3) with anaggregate contract sum of approximately HK$109.3 million (2023: HK$158.4million), which were related to MVAC system installation. The following table sets forth the particulars of the projects awarded in theCurrent Period in terms of contract sum: Management Discussion and Analysis Major projects undertaken in the Current Period 76.1%23.9%60.6%39.4% During the Current Period, the Group continued to focus its efforts on the supply,installation and maintenance of MVAC system and low voltage electrical system.Revenue contributed by projects relating to MVAC system and low voltageelectrical system accounted for approximately 76.1% and 23.9% respectively forthe Current Period (2023: 60.6% and 39.4%). The following table sets forth the particulars of the five largest projectsundertaken in the Current Period in terms of revenue contribution: Management Discussion and Analysis Future prospects With declining interest rates, Hong Kong’s property market is experiencingincreased activity. The inherent demand of residential demand suggests thatprivate development projects will have some positive adjustments. In addition, theHong Kong government is also committed to advancing land development in thepublic sector by expediting urban development and development in the “NorthernMetropolis” area among other initiatives. Nonetheless, the construction and E&M engineering services sectors areanticipated to encounter some future challenges. In light of these changes andchallenges, the Group intends to enhance its services within the publi