荣丰集团亚洲二零二四年报

ANNUAL REPORT2024 CHARACTERISTICS OF GEM OF THE STOCK EXCHANGE OF HONG KONG LIMITED(THE “STOCK EXCHANGE”) GEM has been positioned as a market designed to accommodate small and mid-sized companies to whicha higher investment risk may be attached than other companies listed on the Stock Exchange. Prospectiveinvestors should be aware of the potential risks of investing in such companies and should make the decisionto invest only after due and careful consideration. Given that the companies listed on GEM are generally small and mid-sized companies, there is a risk thatsecurities traded on GEM may be more susceptible to high market volatility than securities traded on theMain Board and no assurance is given that there will be a liquid market in the securities traded on GEM. Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility forthe contents of this report, make no representation as to its accuracy or completeness and expressly disclaim any liabilitywhatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this report. This report, for which the directors (the “Directors”) of Wing Fung Group Asia Limited (the “Company”) collectively andindividually accept full responsibility, includes particulars given in compliance with the Rules Governing the Listing ofSecurities on GEM of the Stock Exchange (the “GEM Listing Rules”) for the purpose of giving information with regardto the Company and its subsidiaries (collectively, the “Group”). The Directors, having made all reasonable enquiries,confirm that to the best of their knowledge and belief the information contained in this report is accurate and completein all material respects and not misleading or deceptive, and there are no other matters the omission of which wouldmake any statement herein or this report misleading. GEM CONTENTS Corporate Information3 Chairman’s Statement5 Management Discussion and Analysis7 Corporate Governance Report16 Environmental, Social and Governance Report38 Biographical Details of Directors and Senior Management57 Report of Directors63 Independent Auditor’s Report76 Consolidated Statement of Comprehensive Income84 Consolidated Statement of Financial Position85 Consolidated Statement of Changes in Equity87 Consolidated Statement of Cash Flows88 Notes to the Consolidated Financial Statements89 Financial Summary168 CORPORATE INFORMATION BOARD OF DIRECTORS Executive DirectorsMr. Chung Chi Keung(Chairman)Ms. Lai Suk Fan Independent Non-executive DirectorsMr. Choy Hiu Fai EricMr. Lei ForMr. Lai Wai Ming COMPANY SECRETARYMr. Law Pak Hin Edward COMPLIANCE OFFICERMr. Chung Chi Keung AUTHORISED REPRESENTATIVESMr. Chung Chi KeungMr. Law Pak Hin Edward AUDIT COMMITTEEMr. Choy Hiu Fai Eric(Chairman)Mr. Lei ForMr. Lai Wai Ming REMUNERATION COMMITTEE(Chairman) Mr. Lai Wai MingMr. Chung Chi KeungMr. Choy Hiu Fai Eric NOMINATION COMMITTEEMr. Lei For(Chairman)Mr. Chung Chi KeungMr. Lai Wai Ming AUDITORForvis Mazars CPA Limited REGISTERED OFFICE 71 Fort Street, PO Box 500George TownGrand CaymanKY1–1106Cayman Islands 71 Fort Street, PO Box 500George TownGrand CaymanKY1–1106Cayman Islands HEAD OFFICE AND PRINCIPAL PLACE OFBUSINESS IN HONG KONG Unit D, 21/F., Tower BBillion Centre1 Wang Kwong RoadKowloon Bay, KowloonHong Kong B21D PRINCIPAL SHARE REGISTRAR ANDTRANSFER OFFICE IN THE CAYMAN ISLANDS Appleby Global Services (Cayman) Limited71 Fort Street, PO Box 500George TownGrand CaymanKY1–1106Cayman Islands Appleby Global Services (Cayman) Limited71 Fort Street, PO Box 500George TownGrand CaymanKY1–1106Cayman Islands HONG KONG BRANCH SHARE REGISTRAR ANDTRANSFER OFFICE 1617Tricor Investor Services Limited17/F, Far East Finance Centre16 Harcourt RoadHong Kong PRINCIPAL BANKERSBank of China (Hong Kong) LimitedChina Construction Bank Corporation Macau BranchNanyang Commercial Bank, Limited WEBSITE ADDRESSwww.wingfunggroup.com STOCK CODE8526 8526 CHAIRMAN’S STATEMENT Dear Shareholders, On behalf of the board of Directors (the “Board”) of the Company, Ihereby present the audited financial statements of the Group for theyear ended 31 December 2024 (the “Relevant Period”). REVIEW AND RESULTS The Group is principally engaged as a subcontractor for the provisionof supply, installation and fitting-out services of mechanicalventilation and air-conditioning (“MVAC”) system for various typesof private and public building projects including infrastructural,commercial and residential building projects in Hong Kong andMacau. During the Relevant Period, despite the local and global economiesdemonstrated modest growthmomentum, the overall marketsentiment had remained weak, and with a lack of large constructionprojects being launched, competition in the construction industryintensified. Heightened financial costs, chronic shortage of skilledlabour, rising inflation and prolonged geopolitical uncertaintiescontinued to weigh