明辉国际2024年年报

(Incorporated in the Cayman Islands with limited liability)(Stock Code: 03828) 2024ANNUAL REPORT CONTENTS 02Corporate Information04Highlights for the year ended31 December 202405Five Years Financial Summary06Key Shareholder Value Indices07Chairman’s Statement09Management Discussion and Analysis20Biographical Details ofDirectors and Senior Management23Directors’ Report 43Corporate Governance Report57Independent Auditor’s Report62Consolidated Balance Sheet64Consolidated Statement ofComprehensive Income65Consolidated Statement ofChanges in Equity66Consolidated Statement of Cash Flows67Notes to theConsolidated Financial Statements CORPORATE INFORMATION公 司 資 料 BOARD OF DIRECTORS Executive Directors:Mr. CHING Chi Fai(Chairman)Mr. CHING Chi KeungMr. LIU ZigangMr. CHING Tsun WahMr. KEUNG Kwok Hung Non-Executive Director:Ms. CHAN Yim Ching Independent Non-Executive Directors:Mr. HUNG Kam Hung AllanMr. SUN Eric Yung TsonMr. KWONG Tony Wan Kit AUDIT COMMITTEE Mr. KWONG Tony Wan Kit(Chairman)Mr. HUNG Kam Hung AllanMr. SUN Eric Yung Tson NOMINATION COMMITTEE Mr. CHING Chi Fai(Chairman)Mr. SUN Eric Yung TsonMr. KWONG Tony Wan Kit REMUNERATION COMMITTEE Mr. HUNG Kam Hung Allan(Chairman)Mr. CHING Chi FaiMr. SUN Eric Yung TsonMr. KWONG Tony Wan Kit EXECUTIVE COMMITTEE Mr. CHING Chi Fai(Chairman)Mr. CHING Chi KeungMr. LIU ZigangMr. CHING Tsun WahMr. KEUNG Kwok Hung INVESTMENT COMMITTEE Mr. CHING Chi Fai(Chairman)Mr. KEUNG Kwok HungMr. KWONG Tony Wan Kit CHIEF FINANCIAL OFFICER ANDCOMPANY SECRETARYMr. KEUNG Kwok HungCPA PRINCIPAL BANKERS Bank of China (Hong Kong) LimitedThe Hongkong and Shanghai BankingCorporation LimitedHang Seng Bank LimitedDBS Bank (Hong Kong) Limited CORPORATE INFORMATION (CONTINUED)公 司 資 料（ 續 ） AUDITOR PricewaterhouseCoopersCertified Public AccountantsRegistered Public Interest Entity Auditor22/F, Prince’s BuildingCentralHong Kong PRINCIPAL SHARE REGISTRAR ANDTRANSFER OFFICE IN THE CAYMAN ISLANDSSuntera (Cayman) Limited Suntera (Cayman) LimitedSuite 3204, Unit 2A, Block 3, Building DP.O. Box 1586, Gardenia Court, Camana BayGrand Cayman, KY1-1100Cayman Islands Suite 3204, Unit 2A, Block 3, Building DP.O. Box 1586, Gardenia Court, Camana BayGrand Cayman, KY1-1100Cayman Islands BRANCH SHARE REGISTRAR INTHE HONG KONG SPECIAL ADMINISTRATIVEREGION OF THE PEOPLE’S REPUBLIC OF CHINA(THE “PRC”)(“HONG KONG”) 18317M Computershare Hong Kong Investor Services LimitedInvestors’ enquiries:17M FloorHopewell Centre183 Queen’s Road East, WanchaiHong Kong 183171712–1716 Transfer of shares:Shops 1712–1716, 17th FloorHopewell Centre183 Queen’s Road East, WanchaiHong Kong REGISTERED OFFICE PO Box 309Ugland HouseGrand Cayman, KY1-1104Cayman Islands PO Box 309Ugland HouseGrand Cayman, KY1-1104Cayman Islands HEAD OFFICE AND PRINCIPAL PLACEOF BUSINESS IN HONG KONG 3TML8D3 Unit D3, 8/F, TML TowerNo. 3 Hoi Shing RoadTsuen Wan, New TerritoriesHong Kong PRINCIPAL PLACE OF BUSINESS IN THE PRC Ming Fai Industrial EstateBainikeng, Pinghu, LonggangShenzhen, the PRC www.mingfaigroup.com WEBSITEwww.mingfaigroup.com 03828 STOCK CODE03828 HIGHLIGHTS FOR THE YEAR ENDED 31 DECEMBER 2024截 至 二 零 二 四 年 十 二 月 三 十 一 日 止 年 度 之 摘 要 •Revenue increased 11.8% to approximately HK$2,311.3million (for the year ended 31 December 2023: approximatelyHK$2,067.3 million).• 11.8%2,311.32,067.3 •Gross profit increased 15.6% to approximately HK$579.9million (for the year ended 31 December 2023: approximatelyHK$501.7 million).• 15.6%579.9501.7 0.825.1%24.3% •Gross profit margin increased 0.8 percentage points to 25.1%(for the year ended 31 December 2023: 24.3%).• •Operating profit was approximately HK$173.7 million (for theyear ended 31 December 2023: approximately HK$144.1million).• 173.7144.1 •P r o f i ta t t r i b u t a b l e t o o w n e r s o f t h e C o m p a n y w a sapproximately HK$143.2 million (for the year ended 31December 2023: approximately HK$104.2 million).• 143.2104.2 •7.03.010.07.050.5%48.6% •A proposed final dividend in respect of the year ended 31December 2024 of HK7.0 cents per share of the Company (the“Share”) was recommended, together with the interimdividend of HK3.0 cents per Share for the six months ended30 June 2024 was declared, representing a total dividend ofHK10.0 cents per Share (for the year ended 31 December2023: HK7.0 cents per Share) and the annual dividend payoutratio of 50.5% (for the year ended 31 December 2023:48.6%). FIVE YEARS FINANCIAL SUMMARY五 年 財 務 概 要 KEY SHAREHOLDER VALUE INDICES主 要 股 東 價 值 指 標 CHAIRMAN’S STATEMENT主 席 報 告 Dear Shareholders, O n b e h a l f o f M i n g F a i I n t e r n a t i o n a l H o l d i n g s L i m i t e d ( t h e“Company”) and its subsidiaries (collectively, the “Group”), I ampleased to present the audited annual results of the Group for theyear ended 31 December 2024. In 2024, the global economy moved forward amidst recovery andchallenges. Intensifying geopolitical tensions, escalating global tradefrictions, and uncertainties in na