怡邦行控股2024/2025中期报告

Content目錄 24152122232425CorporateInformation公 司 資 料Management Discussion and Analysis管 理 層 討 論 與 分 析Other Information其 他 資 料Interim Condensed Consolidated Statement of Comprehensive Income中 期 簡 明 綜 合 全 面 收 益 表Interim Condensed Consolidated Statement of Financial Position中 期 簡 明 綜 合 財 務 狀 況 表Interim Condensed Consolidated Statement of Changes In Equity中 期 簡 明 綜 合 權 益 變 動 表Interim Condensed Consolidated Statement of Cash Flows中 期 簡 明 綜 合 現 金 流 量 表Notes to Condensed Consolidated Financial Statement簡 明 綜 合 財 務 報 表 附 註 CorporateInformation公司資料 REGISTERED OFFICE註冊辦事處 NOMINATIONCOMMITTEE提名委員會 Mr.WongWah,Dominic(Chairman)Mr.TseSunFat,HenryMr.WanSzeChung CricketSquareHutchinsDriveP.O.Box2681GrandCaymanKY1-1111CaymanIslands 黃華先生（主席）謝新法先生溫思聰先生 HEAD OFFICE AND PRINCIPAL PLACE OF BUSINESS總辦事處及主要營業地點 INVESTMENTCOMMITTEE投資委員會 16th–18thFloorsFirstCommercialBuilding33LeightonRoadCausewayBayHongKong Mr.WongWah,Dominic(Chairman)Mr.TseSunPo,TonyMr.LauShiuSun 黃華先生（主席）謝新寶先生劉紹新先生 香港銅鑼灣禮頓道33號第一商業大廈16–18樓 COMPANYSECRETARY公司秘書 AUDITCOMMITTEE審核委員會 Mr.YuChiWah,CPA俞志燁先生,CPA Mr.WanSzeChung(Chairman)Dr.LukWangKwongMr.WongWah,Dominic AUDITOR核數師 溫思聰先生（主席）陸宏廣博士黃華先生 PricewaterhouseCoopersCertifiedPublicAccountantsRegisteredPublicInterestEntityAuditor22ndFloorPrince’sBuildingCentralHongKong REMUNERATIONCOMMITTEE薪酬委員會 羅兵咸永道會計師事務所執業會計師註冊公共利益實體核數師香港中環太子大廈22樓 Mr.WongWah,Dominic(Chairman)Mr.LauShiuSunMr.WanSzeChung 黃華先生（主席）劉紹新先生溫思聰先生 AUTHORISEDREPRESENTATIVES授權代表 Mr.TseHonKit,KevinMr.YuChiWah,CPA 謝漢傑先生俞志燁先生,CPA CorporateInformation公司資料 LEGALADVISERSONHONGKONGLAW香港法律之法律顧問 CAYMANISLANDSPRINCIPALSHAREREGISTRARANDTRANSFEROFFICE開曼群島股份過戶登記總處 Pang,Wan&Choi,SolicitorsRoom1405,14/F,ChinaInsuranceGroupBuilding141DesVoeuxRoadCentralHongKong Suntera(Cayman)LimitedSuite3204,Unit2ABlock3,BuildingDP.O.Box1586GardeniaCourtCamanaBayGrandCaymanKY1-1100,CaymanIslands 彭溫蔡律師行香港德輔道中141號中保集團大廈14樓1405室 PRINCIPALBANKERS主要往來銀行 HONGKONGBRANCHSHAREREGISTRARANDTRANSFEROFFICE香港股份過戶登記分處 –FubonBank(HongKong)Limited富邦銀行（香港）有限公司–TheHongkongandShanghaiBankingCorporationLimited香港上海滙豐銀行有限公司–NanyangCommercialBankLimited南洋商業銀行有限公司 TricorAbacusLimited17/F,FarEastFinanceCentre16HarcourtRoadHongKong 卓佳雅柏勤有限公司香港夏愨道16號遠東金融中心17樓 ManagementDiscussionandAnalysis管理層討論與分析 REVIEW OF OPERATIONS BUSINESS REVIEW 業務回顧 The principal activity of the Company is investment holding. Its subsidiaries areprincipally engaged in the importing, wholesale, retail and installation of architecturalbuilders’ hardware, bathroom, kitchen collections and furniture and provision ofinterior design services, project and contract management in Hong Kong and thePeople’s Republic of China (the “PRC”). As highlighted in our annual report for 2024, persistent geopolitical tensions,inflation concerns, a high-interest rate environment, and slowing economic growthhave significantly influenced global market sentiment. Hong Kong is no exception tothese trends. The ongoing Russia-Ukraine conflict has profoundly impacted global economies,particularly affecting commodities and agriculture, resulting in soaring food andenergy prices. This directly impacts Hong Kong’s economy as it affects the costof imported goods and energy, potentially leading to higher production costsand inflation. Additionally, the conflict in the Middle East further complicates thegeopolitical landscape. These escalating tensions create ripple effects acrossvarious sectors, driving up raw materials, food, and energy prices. The shift fromglobalisation to de-globalization, which involves countries reducing their dependenceon global supply chains and adopting ‘ally-shoring strategies’ (a term referring to thepractice of forming alliances with specific countries for trade and supply), intensifiesinflationary pressures and dampens overall demand, resulting in a challengingenvironment for businesses worldwide. Looking ahead, the administration of President-elect Trump may introduce newtrade tensions with China, potentially affecting exports and economic growththrough increased tariffs. Trump is known for his protectionist trade policies,including imposing tariffs on Chinese goods. If implemented, these measurescould significantly impact Hong Kong’s role as a major re-export hub for Chinesegoods, potentially leading to a decline in re-export business and affecting the overalldomestic market. However, these changes in the United States (the “U.S.”) trade policies couldalso present opportunities for China to diversify its trade relationships and bolsterdomestic industries. Additionally, geopolitical dynamics and foreign policy shiftscould affect China’s regional influence and economic partnerships, potentiallyopening up new avenues for growth. These significant challenges may motivateChina to adapt and thrive in the evolving global economic landscape. Some expertsbelieve that Trump’s policies could also push China to focus more on its domesticeconomy, which might have long-term benefits. Economic uncertainty can significa