中国网成2024年度报告

ANNUAL REPORT2024 Contents 90Consolidated Statement of Profit or Loss andOther Comprehensive Income 2Corporate Information Chairman’s Statement 91Consolidated Statement of FinancialPosition Management Discussion and Analysis 93Consolidated Statement of Changes inEquity 15Report of the Directors 94Consolidated Statement of Cash Flows 32Biographies of the Directors and SeniorManagement 96Notes to the Consolidated FinancialStatements 37Corporate Governance Report 52Environmental, Social and GovernanceReport 79Independent Auditor’s Report Corporate Information Board of Directors Executive Directors Mr. Zhou Zhenlin(Chairman and President)(appointed on 6 September 2024)Mr. Cheung Kwok Fai Adam(Chief Executive Officer)Mr. Ng Sheung ChungMr. Ma Kan Sun Independent Non-Executive Directors Ms. Ding XinMs. Zhang Lingke (appointed on 21 October 2024)Mr. Zhu Qi (appointed on 29 November 2024)Ms. Lo Yin Ping Patricia (resigned on 29 November 2024)Mr. Ho Kwok Lung (resigned on 21 October 2024) Audit Committee Ms. Ding Xin(Chairlady)Ms. Zhang Lingke (appointed on 21 October 2024)Mr. Zhu Qi (appointed on 29 November 2024)Ms. Lo Yin Ping Patricia (resigned on 29 November 2024)Mr. Ho Kwok Lung (resigned on 21 October 2024) Remuneration Committee Mr. Zhu Qi(Chairman)(appointed on 29 November 2024)Ms. Lo Yin Ping Patricia(Chairlady)(resigned on 29 November 2024)Ms. Ding XinMs. Zhang Lingke (appointed on 21 October 2024)Mr. Ho Kwok Lung (resigned on 21 October 2024) Nomination Committee Mr. Zhou Zhenlin(Chairman) (appointed on 6 September 2024)Mr. Cheung Kwok Fai Adam (resigned on 30 October 2024)Ms. Ding XinMs. Zhang Lingke (appointed on 21 October 2024)Mr. Zhu Qi (appointed on 29 November 2024)Ms. Lo Yin Ping Patricia (resigned on 29 November 2024)Mr. Ho Kwok Lung (resigned on 21 October 2024) Company SecretaryMr. Tsui Chun Hung Authorised Representatives Mr. Cheung Kwok Fai AdamMr. Tsui Chun Hung Registered Office in the Cayman Islands Windward 3, Regatta Office ParkP.O. Box 1350Grand Cayman KY1–1108Cayman Islands Windward 3, Regatta Office ParkP.O. Box 1350Grand Cayman KY1–1108Cayman Islands Headquarter and Principal Place of BusinessIn Hong Kong 2829 Room 9, 2/FHang Bong Commercial Centre28 Shanghai StreetJordan, KowloonHong Kong Principal Share Registrar and Transfer Officein Cayman Islands Ocorian Trust (Cayman) LimitedWindward 3, Regatta Office ParkP.O. Box 1350Grand Cayman KY1–1108Cayman Islands Ocorian Trust (Cayman) LimitedWindward 3, Regatta Office ParkP.O. Box 1350Grand Cayman KY1–1108Cayman Islands Hong Kong Branch Share Registrar andTransfer Office 148212103B Boardroom Share Registrars (HK) LimitedRoom 2103B, 21/F, 148 Electric RoadNorth Point, Hong Kong Corporate Information Legal Adviser as to Hong Kong Law 29161603 Loong & Yeung SolicitorsRoom 1603, 16/FChina Building29 Queen’s Road CentralCentralHong Kong Auditor 1416609 Wilson & Partners CPA LimitedCertified Public AccountantsRegistered Public Interest Entity AuditorSuite 609, 6/FChina Insurance Group Building141 Des Voeux Road CentralCentral, Hong Kong Principal BankerThe Bank of East Asia Limited 1920 Stock Code1920 www.handsform.com Websitewww.handsform.com Chairman’s Statement Dear Shareholders, On behalf of the board (the “Board”) of directors (the “Directors”) ofChina Wacan Group Company Limited (formerly known as Hands FormHoldings Limited) (the “Company”), I present the annual report of theCompany and its subsidiaries (collectively referred to as the “Group”)for the year ended 31 December 2024 (the “Year”). The Group is a Hong Kong-based subcontractor engaged in theprovision of wet trades works and the wet trades related ancillaryworks in Hong Kong. Since 2021, capitalising on our expertise andexperience in providing wet trades related solutions, we established anonline platform for subscribers to specify the payment application in ourdatabase. (i)(ii)110.086.723.226.8%366,00012.9(i)(ii)(iii)(a)(b) The revenue from (i) provision of wet trades works and the wet tradesrelated ancillary works and (ii) provision of construction informationtechnology services for the Year amounted to approximately HK$110.0million, representing an increase of approximately HK$23.2 million or26.8% as compared to approximately HK$86.7 million for the yearended 31 December 2023. Such increase was primarily attributable toincreased in provision of wet trades works and the wet trades relatedancillary works with more number of successful tenders during the Year.The construction information technology services remained stable whichcontributed approximately HK$366,000 for the Year. The gross loss ofapproximately HK$12.9 million reported for the Year was mainly due to(i) competitive project pricing arising from intense market competition;(ii) delay in certification of works performed of certain projects; and (iii)increase in direct costs from (a) additional subcontractors, resourcesand other costs related to deal with unexp