普汇中金国际2024/2025 中期报告

CONTENTS目錄 Corporate Information2公司資料 Management Discussion and Analysis4管理層討論及分析 Corporate Governance and Other Information22企業管治及其他資料 Unaudited Condensed Consolidated Statement of Profitor Loss and Other Comprehensive Income30 Unaudited Condensed Consolidated Statement ofFinancial Position33未經審核簡明綜合財務狀況表 Unaudited Condensed Consolidated Statement ofChanges in Equity36未經審核簡明綜合權益變動表 Unaudited Condensed Consolidated Statement ofCash Flows38未經審核簡明綜合現金流量表 Notes to the Unaudited Condensed ConsolidatedFinancial Statements43未經審核簡明綜合財務報表附註 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 Mr. Li Weibin,Chairman and Managing DirectorMr. Siu Wai Yip 非執行董事 NON-EXECUTIVE DIRECTOR 林永耀先生 Mr. Lam Wing Yiu 獨立非執行董事 INDEPENDENT NON-EXECUTIVE DIRECTORS 何鍾泰博士黎家鳳女士陳嬋玲女士 Dr. Ho Chung Tai, RaymondMs. Lai Ka Fung, MayMs. Chan Sim Ling, Irene 公司秘書 COMPANY SECRETARY 劉慧霞女士 Ms. Lau Wai Har 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 香港中環德輔道中4-4A號渣打銀行大廈12樓1203室 Suite 1203, 12/F., Standard Chartered Bank Building4-4A Des Voeux Road CentralCentral, Hong Kong CORPORATE INFORMATION公司資料 主要往來銀行 PRINCIPAL BANKERS 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 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 主要股份過戶登記處 PRINCIPAL SHARE REGISTRAR ANDTRANSFER OFFICE 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 ADVISER 李智聰律師事務所 Michael Li & Co. MANAGEMENT DISCUSSION AND ANALYSIS管理層討論及分析 業務回顧 BUSINESS REVIEW 於 回 顧 之 截 至 二 零 二 四 年 九 月 三 十 日 止 六 個 月（「本期間」），普匯中金國際控股有限公司（「本公司」或「普匯中金」）及其附屬公司（統稱「本集團」）錄得總收入44,400,000港元 ，較去年同期（「去年同期」）下滑5.9%。本期間淨虧損為230,600,000港元 ，較去年同期增加114.6%。導致虧損增加的主要原因是非經營性質但由於本期間投資物業公平值變動及港元（「港元」）兌人民幣（「人民幣」）貶值產生匯兌虧損 。 For the six months ended 30 September 2024 (the “Period”) underreview, Chinlink International Holdings Limited (the “Company”or “Chinlink”) and its subsidiaries (collectively the “Group”)recorded total revenue of HK$44.4 million, representing a dropof 5.9% compared with the corresponding period last year (the“Previous Period”). The net loss for the Period was HK$230.6million, an increase of 114.6% compared to the Previous Period.The primary reasons contributing to the rise in loss are non-operational but due to changes in the fair value of investmentproperties and exchange loss arising from the depreciation ofHong Kong Dollar (“HK$”) against Renminbi (“RMB”) duringthe Period. 於本期間 ，本集團在中國經濟經歷結構性調整的背景下運營 ，特別是在房地產行業 ，其一直是經濟不穩定的重要根源 。國內需求持續疲軟 ，私營界 別 缺 乏 投 資 信 心 。 為 應 對 金 融 挑 戰 ， 中 國 政府於二零二四年九月下旬推出一攬子重大刺激措施 。其中包括降低利率及存款準備金率 ，以鼓勵貸款及投資 。然而 ，該等措施的積極成效仍有待觀察 。 During the Period, the Group operated against the backdrop of aChinese economy undergoing structural rebalancing, particularlyin the real estate sector, which has been a significant source ofeconomic instability. There was ongoing weakness in domesticdemand and a lack of investment confidence from the privatesector. In response to the financial challenges, the ChineseGovernment introduced significant stimulus packages in lateSeptember 2024. This includes cuts to interest rates and reserverequirements to encourage lending and investment. However,the positive effect of these measures still to be seen. 於 二 零 二 四 年 ， 香 港 經 濟 顯 現 出 復 甦 跡 象 ， 但仍在應對可能影響其長期表現的結構性挑戰及外部不確定因素 。旅遊業繼續從二零一九年冠狀病毒病（「新冠」）疫情及社會動盪的影響中恢復而反彈 。然而 ，消費者支出仍然較低 ，零售運營商繼續承受租金及工資高昂的運營成本 。儘管過去幾年房地產價格因需求下降而經歷調整 ，但住房價格仍相對較高且購房者的負擔能力仍然是一個關鍵問題 。地緣政治緊張及監管擔憂繼續影響外國投資及資本市場活躍水平 。然而 ，來自中東 、南方及東南亞國家的資本流入不斷增加 ，鞏固了香 Hong Kong’s economy in 2024 shows signs of recovery, yet itis still navigating structural challenges and external uncertaintiesthat could influence its long-term performance. Tourism hasrebounded as it continues to recover from the impacts of theCoronavirus Disease 2019 (“COVID-19”) pandemic and socialunrest. However, consumer spending remains low, and retailoperators continue to suffer from high operating costs in rentand wages. Despite the real estate price adjustments dueto lower demand in the last few years, housing price is stillrelatively high and buyer affordability remains a critical issue.