濠江机电年报2024

CONTENTS目錄 2Corporate Information5Chairman’s Statement7Management Discussion and Analysis16Environmental, Social and Governance Report68Corporate Governance and Other Information89Biographical Details of Directors and Senior Management97Directors’Report114Independent Auditor’s Report121Consolidated Statement of Profit or Loss andOther Comprehensive Income122Consolidated Statement of Financial Position123Consolidated Statement of Changes in Equity124Consolidated Statement of Cash Flows126Notes to the Consolidated Financial Statements200Summary of Financial Information CORPORATE INFORMATION BOARD OF DIRECTORS Executive Directors Mr. Cheong Ka Wo(Chairman & Chief Executive Officer)Mr. Leong Kam Leng Independent Non-executive Directors Mr. Chan Ming KitMr. Law Lap TakMs. Lee Sze Ming BOARD COMMITTEES Audit Committee Mr. Law Lap Tak(Chairman)Mr. Chan Ming KitMs. Lee Sze Ming Nomination Committee Ms. Lee Sze Ming(Chairlady)Mr. Chan Ming KitMr. Law Lap Tak Remuneration Committee Mr. Chan Ming Kit(Chairman)Mr. Law Lap TakMs. Lee Sze Ming COMPANY SECRETARY Mr. Chan Yat Lui AUTHORISED REPRESENTATIVES Mr. Cheong Ka WoMr. Chan Yat Lui REGISTERED OFFICE Cricket SquareHutchins DrivePO Box 2681Grand Cayman KY1-1111Cayman Islands Cricket SquareHutchins DrivePO Box 2681Grand Cayman KY1-1111Cayman Islands HEADQUARTER AND PRINCIPAL PLACEOF BUSINESS IN MACAU 175–18110BDAvenida da Concórdianos 175–181Edifício Industrial Wang Fu10 Andar B e D Macau PRINCIPAL PLACE OF BUSINESS INHONG KONG Room 4801, 48/F,Hopewell Centre,No. 183 Queen’s Road, East,Wanchai, Hong Kong 183484801 HONG KONG BRANCH SHAREREGISTRAR Tricor Investor Services Limited17/F, Far East Finance Centre16 Harcourt RoadHong Kong PRINCIPAL SHARE REGISTRAR Conyers Trust Company (Cayman) LimitedCricket SquareHutchins DrivePO Box 2681Grand Cayman KY1-1111Cayman Islands Conyers Trust Company (Cayman) LimitedCricket SquareHutchins DrivePO Box 2681Grand Cayman KY1-1111Cayman Islands AUDITOR Deloitte Touche TohmatsuCertified Public Accountants andRegistered Public Interest Entity Auditor35/F One Pacific Place88 QueenswayHong Kong LEGAL ADVISORS As to Hong Kong law:Sidley AustinLevel 39, Two International Finance Centre8 Finance Street, CentralHong Kong As to Cayman Islands law:Conyers Dill & PearmanCricket Square Hutchins DrivePO Box 2681 Grand CaymanCayman Islands Conyers Dill & PearmanCricket Square Hutchins DrivePO Box 2681 Grand CaymanCayman Islands PRINCIPAL BANKERS Bank of China (Hong Kong) LimitedBank of China, Macau BranchBanco Nacional Ultramarino WEBSITE www.macauem.com www.macauem.com STOCK CODE 14081408 CHAIRMAN’S STATEMENT Dear Shareholders, On behalf of Macau E&M Holding Limited (the“Company”and togetherwith its subsidiaries, the“Group”), I hereby announce the annual resultsof the Group for the year ended 31 December 2024 (the“Year”). During the Year, the economy of the Macau Special AdministrativeRegion (“Macau”) remained resilience, despite adverse geo-politicaland economic headwinds. Macau continued its recovery in 2024, withgross domestic product (“GDP”) growing by 8.8%1year-on-year. Thecity’s robust economy can be attributed to the support of the CentralPeople’s Government, coupled with Macau’s active integration into themotherland. This is evident in Macau’s recovering gaming and tourismindustries, which saw gaming revenue rise by 23.9%2and visitorarrivals up 23.8%3year on year, respectively. As for the electrical andmechanical (“E&M”) engineering industry in Macau, there has been asteady stream of public and private projects, though at the same timeintensifying competition for securing the contracts in respect of suchprojects. With respect to the Group, total revenue of MOP92.1 million wasrecorded for the Year, with gross profit at MOP7.2 million and grossprofit margin at 7.8%, up 2.0 percentage points for the latter year-on-year. It is worth noting that we were able to secure a fair numberof projects, including one which involved closed-circuit television(“CCTV”) work for a casino in Sri Lanka. At the same time, we havecontinued to implement strict cost-control measures to fortify ourfinancial performance. Moreover, our organisational structure hasbeen streamlined to ensure that resources are allocated and utilisedefficiently and effectively. Looking ahead to the new financial year ending 31 December 2025,we are cautiously optimistic towards the economic prospects for theregion, as well as the outlook for the E&M industry in Macau as awhole. According to the University of Macau, it has forecasted a GDPgrowth rate of 7.7%4for Macau in 2025, despite an uncertain globaleconomic outlook taking into account the consequence of slowinggrowth in Mainland China and uncertainties surrounding the economicpolicies of various countries and their downside risks. Given that theMacau Government will continue to diversify its economy, pursuepublic administration reforms, and ensure social harmony, we will seekto capitali