麦迪森控股年报 2024/25

A n n u a lR e p o r t年 報2024/25 CHARACTERISTICS OF GEM OF THESTOCK EXCHANGE OF HONG KONGLIMITED (THE “STOCK EXCHANGE”) GEM GEM G E M h a s b e e n p o s i t i o n e d a s a m a r k e t d e s i g n e d t oaccommodate small and mid-sized companies to whicha higher investment risk may be attached than othercompanies listed on the Stock Exchange. Prospectivei n v e s t o r s s h o u l d b e a w a r e o f t h e p o t e n t i a l r i s k s o finvesting in such companies and should make the decisionto invest only after due and careful consideration. GEMGEMGEM Given that the companies listed on GEM are generallys m a l l a n d m i d - s i z e d c o m p a n i e s , t h e r e i s a r i s k t h a tsecurities traded on GEM may be more susceptible to highmarket volatility than securities traded on the Main Boardand no assurance is given that there will be a liquid marketin the securities traded on GEM. Hong Kong Exchanges and Clearing Limited and the StockE x c h a n g e t a k e n o r e s p o n s i b i l i t y f o r t h e c o n t e n t s o f t h i sannual report, make no representation as to its accuracy orcompleteness and expressly disclaim any liability whatsoever forany loss howsoever arising from or in reliance upon the whole orany part of the contents of this annual report. GEMGEM This annual report, for which the directors (the “Director(s)”) ofMadison Holdings Group Limited (the “Company”) collectivelyand individually accept full responsibility, includes particularsgiven in compliance with the Rules Governing the Listing ofSecurities on GEM of the Stock Exchange (the “GEM ListingRules”) for the purpose of giving information with regard tothe Company. The Directors, having made all reasonableenquiries, confirm that to the best of their knowledge and beliefthe information contained in this annual report is accurate andcomplete in all material respect and not misleading or deceptive,and there are no other matters the omission of which wouldmake any statement herein or this annual report misleading. CONTENTS目 錄 Page Corporate Information2Chairman’s Statement4Biographical Details of Directors and Senior Management5Management Discussion and Analysis11Directors’ Report33Corporate Governance Report60Environmental, Social and Governance Report78Independent Auditor’s Report128Consolidated Statement of Profit or Loss and OtherComprehensive Income135Consolidated Statement of Financial Position137Consolidated Statement of Changes in Equity139Consolidated Statement of Cash Flows141Notes to the Consolidated Financial Statements143Five-Year Financial Summary276 CORPORATE INFORMATION公 司 資 料 BOARD OF DIRECTORS 2024922024812 Executive Directors Ms. Kuo Kwan(resigned with effect from 2 September 2024)Mr. Jiang Tian(appointed with effect from 12 August 2024)Dr. Cheung Yuk Shan Shirley Non-executive DirectorsMr. Ji Zuguang(Chairman)Mr. Ip Cho Yin,J.P. Independent Non-executive Directors Mr. Chu Kin Wang PeleusDr. Lau Reimer, Mary JeanMr. Zhou Li AUDIT COMMITTEE Mr. Chu Kin Wang Peleus(Chairman)Mr. Ip Cho Yin,J.P.Dr. Lau Reimer, Mary JeanMr. Zhou Li REMUNERATION COMMITTEE Mr. Zhou Li(Chairman)Mr. Ji ZuguangMr. Chu Kin Wang PeleusDr. Lau Reimer, Mary Jean NOMINATION AND CORPORATEGOVERNANCE COMMITTEE Mr. Ji Zuguang(Chairman)Mr. Chu Kin Wang PeleusMr. Ip Cho Yin,J.P.Dr. Lau Reimer, Mary JeanMr. Zhou Li COMPANY SECRETARY Ms. Tse Ka Yan AUTHORISED REPRESENTATIVES Ms. Kuo Kwan(resigned with effect from 2 September 2024)Mr. Jiang Tian(appointed with effect from 2 September 2024)Ms. Tse Ka Yan 202492202492 CORPORATE INFORMATION公 司 資 料 AUDITOR Prism Hong Kong Limited(formerly known as Prism Hong Kong and Shanghai Limited)Certified Public Accountants REGISTERED OFFICE Cricket SquareHutchins Drive, P.O. Box 2681Grand Cayman KY1-1111Cayman Islands Cricket SquareHutchins Drive, P.O. Box 2681Grand Cayman KY1-1111Cayman Islands PRINCIPAL PLACE OF BUSINESS INHONG KONG 2One Island South826-28 Units 26-28, 8/FOne Island South2 Heung Yip RoadWong Chuk Hang, Hong Kong PRINCIPAL SHARE REGISTRAR ANDTRANSFER OFFICE IN THE CAYMANISLANDS Conyers Trust Company (Cayman) LimitedCricket SquareHutchins Drive, P.O. Box 2681Grand Cayman KY1-1111Cayman Islands Conyers Trust Company (Cayman) LimitedCricket SquareHutchins Drive, P.O. Box 2681Grand Cayman KY1-1111Cayman Islands HONG KONG BRANCH SHAREREGISTRAR AND TRANSFER OFFICE 1617 Tricor Investor Services Limited17/F, Far East Finance Centre16 Harcourt RoadHong Kong PRINCIPAL BANKERS The Hongkong and Shanghai Banking Corporation LimitedChina Construction Bank (Asia) Corporation Limited COMPANY’S WEBSITEhttp://www.madison-group.com.hk http://www.madison-group.com.hk STOCK CODE08057 08057 CHAIRMAN’S STATEMENT主 席 報 告 2025331 On behalf of the board (the “Board”) of Directors, I am pleasedto present to you the annual report of the Company and itssubsidiaries (collectively, the “Group”) for the year ended 31March 2025. The economies of the PRC and Hong Kong continue t