中国星集团2024年报

PageCorporate Information2Chairman’s Statement4Management Discussion and Analysis8Biographical Details of Directors and Senior Management24Corporate Governance Report29Directors’ Report54Independent Auditors’ Report66Consolidated Income Statement74Consolidated Statement of Comprehensive Income75Consolidated Statement of Financial Position76Consolidated Statement of Changes in Equity78Consolidated Statement of Cash Flows80Notes to the Consolidated Financial Statements83Five Year Financial Summary250Properties held for Development/Sale and Investment Property252 公 司 資 料 Corporate Information BOARD OF DIRECTORS Executive Directors Mr. Heung Wah Keung(Chairman)Ms. Chen Ming Yin, Tiffany(Vice Chairman)Ms. Li Yuk Sheung Independent Non-Executive Directors Mr. Hung Cho SingMr. Ho Wai Chi, PaulMr. Tai Kwok Leung, Alexander AUDIT COMMITTEE Mr. Ho Wai Chi, Paul(Chairman)Mr. Hung Cho SingMr. Tai Kwok Leung, Alexander REMUNERATION COMMITTEE Mr. Hung Cho Sing(Chairman)Ms. Chen Ming Yin, TiffanyMr. Tai Kwok Leung, Alexander NOMINATION COMMITTEE Mr. Tai Kwok Leung, Alexander(Chairman)Mr. Heung Wah KeungMr. Hung Cho Sing AUTHORISED REPRESENTATIVES Ms. Li Yuk SheungMs. Wong Shuk Han, Dorothy COMPANY SECRETARYMs. Wong Shuk Han, Dorothy REGISTERED OFFICE Victoria Place, 5th Floor31 Victoria StreetHamilton HM10Bermuda Victoria Place, 5th Floor31 Victoria StreetHamilton HM10Bermuda 公 司 資 料 Corporate Information HEAD OFFICE AND PRINCIPAL PLACEOF BUSINESS 168-2003409 Unit 3409Shun Tak Centre, West Tower168-200 Connaught Road CentralHong Kong PRINCIPAL SHARE REGISTRAR ANDTRANSFER OFFICE Appleby Global Corporate Services (Bermuda) LimitedCanon’s Court, 22 Victoria StreetPO Box HM 1179Hamilton HM EXBermuda Appleby Global Corporate Services (Bermuda) LimitedCanon’s Court, 22 Victoria StreetPO Box HM 1179Hamilton HM EXBermuda HONG KONG BRANCH SHARE REGISTRARAND TRANSFER OFFICE 1617 Tricor Investor Services Limited17/F, Far East Finance Centre16 Harcourt RoadHong Kong PRINCIPAL BANKERS Industrial and Commercial Bank of China (Macau) LimitedBank of China (Hong Kong) LimitedThe Bank of East Asia, LimitedIndustrial and Commercial Bank of China (Asia) Limited AUDITORS HLB Hodgson Impey Cheng LimitedCertified Public Accountants LEGAL ADVISERS RobertsonsApplebyClifford ChanceLeonel Alberto Alves Advegado e Notario Privado Appleby STOCK CODE 326 WEBSITE www.chinastar.com.hkwww.irasia.com/listco/hk/chinastar www.chinastar.com.hkwww.irasia.com/listco/hk/chinastar 主 席 報 告 Chairman’s Statement To the shareholders: Onbehalf of the Board of Directors(the“Board”),we arepleased to present the annual results and the annual reportforthe year ended 31st December 2024 of China StarEntertainmentLimited(the“Company”)and its subsidiaries(collectively as the “Group”) to the shareholders. Year2024 marked the 25th anniversary of Macau’s returntothe motherland and the achievement of the first-phasedevelopmentgoals for the Hengqin In-depth CooperationZone. During this significant moment of citywide celebration,PresidentXi Jinping visited Macau to attend the returnanniversary celebrations and the inauguration ceremony of thenew-term Special Administrative Region (SAR) government. Hedelivered an important speech and inspected Macau, whichnot only reinforced confidence in Macau’s implementation of“One Country, Two Systems” but also charted a new directionfor its future development. 15,0001002,267.8223.9%78% Throughoutthe year,Macau and the Greater Bay Areaexperienceda series of significant events and continuoustransformation. Key milestones included the official customsclosure of the Guangdong-Macau In-Depth Cooperation ZoneinHengqin(March),the temporary removal of 14 years ofpurchaserestriction on property market(April),an increasein the duty-free shopping allowance for mainland visitors toHong Kong and Macau to RMB15,000 (July), nearly 1 milliontouristvisits to Macau during the National Day holiday,theimplementationof new policies“one trip per week”and“multiple entries with one visa” (November), Macau’s gamingrevenue reaching a cumulative MOP226.782 billion (a year-on-year increase of 23.9%, recovering to 78% of pre-pandemiclevels),and the official opening of the Hengqin Light RailLine (December). Another highlight was the completion of theShenzhen-ZhongshanLink,a mega infrastructure project inthe Guangdong-Hong Kong-Macau Greater Bay Area followingtheHong Kong-Zhuhai-Macau Bridge.After seven yearsofconstruction,it officially opened to traffic on 30th June,reducing the travel time between Shenzhen and Zhongshanfromtwo hours to just half an hour,significantly boostingeconomic development between the two regions. 主 席 報 告 Chairman’s Statement 63,0003,500 With regard to the property market in Macau, starting in April2024, Macau followed Hong Kong and other mainland cities infully lifting restrictive property measures, effectively unleashingpurchasing power. Multiple developers seized the opportunitytolaunch projects,wh