三和建筑集团2025年年报

(Incorporated in the Cayman Islands with limited liability)(Stock code: 3822)() ANNUALREPORT2025 Corporate Information公司資料2Chairman’s Statement主席報告4Management Discussion and Analysis管理層討論與分析6Corporate Governance Report企業管治報告16Profile of Directors and Senior Management董事及高級管理層履歷29Directors’ Report董事會報告33Independent Auditor’s Report獨立核數師報告44Consolidated Statement of Comprehensive Income綜合全面收益表58Consolidated Balance Sheet綜合資產負債表59Consolidated Statement of Changes in Equity綜合權益變動表61Consolidated Statement of Cash Flows綜合現金流量表62Notes to the Consolidated Financial Statements綜合財務報表附註63Five Year Financial Summary五年財務概要144 公司資料Corporate Information BOARD OF DIRECTORS 董事會 執行董事劉振明先生（主席）劉振國先生（行政總裁）劉振家先生劉沛珊女士 Executive Directors Mr. Lau Chun Ming(Chairman)Mr. Lau Chun Kwok(Chief Executive Officer)Mr. Lau Chun KaMs. Lau Pui Shan 獨立非執行董事朱德森先生葉天賜先生彭達材先生 Independent Non-executive DirectorsMr. Chu Tak SumMr. Ip Tin Chee, ArnoldMr. Pang Tat Choi, Paul AUDIT COMMITTEE 審核委員會 葉天賜先生（主席）朱德森先生彭達材先生 Mr. Ip Tin Chee, Arnold(Chairman)Mr. Chu Tak SumMr. Pang Tat Choi, Paul NOMINATION COMMITTEE 提名委員會 彭達材先生（主席）朱德森先生葉天賜先生劉振明先生 Mr. Pang Tat Choi, Paul(Chairman)Mr. Chu Tak SumMr. Ip Tin Chee, ArnoldMr. Lau Chun Ming REMUNERATION COMMITTEE 薪酬委員會 朱德森先生（主席）葉天賜先生彭達材先生劉振明先生 Mr. Chu Tak Sum(Chairman)Mr. Ip Tin Chee, ArnoldMr. Pang Tat Choi, PaulMr. Lau Chun Ming COMPANY SECRETARY 公司秘書 陳晨光先生 Mr. Chan Sun Kwong AUTHORISED REPRESENTATIVES 授權代表 劉振明先生陳晨光先生 Mr. Lau Chun MingMr. Chan Sun Kwong REGISTERED OFFICE 註冊辦事處 Cricket Square, Hutchins DriveP.O. Box 2681, Grand CaymanKY1-1111, Cayman Islands Cricket Square, Hutchins DriveP.O. Box 2681, Grand CaymanKY1-1111, Cayman Islands 公司資料Corporate Information 香港總部及主要營業地點 HEAD OFFICE AND PRINCIPAL PLACE OF BUSINESSIN HONG KONG 香港九龍尖沙咀東部加連威老道92號幸福中心9樓901室電話：(852) 2332-0783傳真：(852) 2385-0793網址：www.samwoo-group.com Unit 901, 9/F, Energy Plaza92 Granville RoadTsim Sha Tsui EastKowloonHong KongTel:(852) 2332-0783Fax:(852) 2385-0793Website:www.samwoo-group.com PRINCIPAL SHARE REGISTRAR AND TRANSFEROFFICE 股份過戶登記總處 Conyers Trust Company (Cayman) LimitedCricket Square, Hutchins DriveP.O. Box 2681, Grand CaymanKY1-1111, Cayman Islands Conyers Trust Company (Cayman) LimitedCricket Square, Hutchins DriveP.O. Box 2681, Grand CaymanKY1-1111, Cayman Islands 香港股份過戶登記分處 HONG KONG BRANCH SHAREREGISTRAR AND TRANSFER OFFICE 卓佳證券登記有限公司香港夏愨道16號遠東金融中心17樓 Tricor Investor Services Limited17/F, Far East Finance Centre16 Harcourt RoadHong Kong AUDITOR 核數師 羅兵咸永道會計師事務所執業會計師及註冊公眾利益實體核數師 PricewaterhouseCoopersCertified Public Accountants andRegistered Public Interest Entity Auditor PRINCIPAL BANKERS 主要往來銀行 香港上海滙豐銀行有限公司 The Hong Kong and Shanghai BankingCorporation LimitedBank of China (Hong Kong) LimitedThe Bank of East Asia, LimitedChong Hing Bank Limited 中國銀行（香港）有限公司東亞銀行有限公司創興銀行有限公司 STOCK CODE 股份代號 3822 3822 主席報告Chairman’s Statement 各位股東： Dear Shareholders, 本人謹此代表董事會（「董事會」）提呈三和建築集團有限公司（「本公司」）連同其附屬公司（「本集團」）截至2025年3月31日止年度的年報。 I present on behalf of the board of directors (the “Board”) theannual report of Sam Woo Construction Group Limited (the“Company”) together with its subsidiaries (the “Group”) for theyear ended 31 March 2025. 過 去 十 二 個 月，香 港 建 造 業 面 臨 巨 大 挑戰。由於全球經濟不確定性和地緣政治緊張局勢，私營機構的投資持續保守。香港房地產市場表現疲軟。部分建築公司因資金鏈中斷而倒閉或面臨財務困難。然而，本 公 司 過 去 兩 年 專 注 公 營 機 構 的 策 略，有效提升了業務穩定性和資金流。我們相信，公營機構的需求將持續增長，並支撐本公司中長期業務前景。 Theconstruction industry in Hong Kong was facing hugechallengesduring the last twelve months.Investmentsintheprivate sector remained conservative due to worldwideeconomicuncertainties and geo-political tensions.Thepropertymarket in Hong Kong was sluggish.Certainconstructioncompanies collapsed or encountered financialdifficultiesdue to interruptions to the chain of capitals.However, the Company has benefited from its strategy to focuson the public sector in the past two years, which enhanced thestability of its business and fund flows.We believe that thedemand in the public sector will continue to grow and sustainour business prospects in the medium to long term. 《施政報告》中提及到，行政長官推行數項主要發展計劃，為房屋及土地供應提量提質並加快供應步伐；打造第三個核心商業區；及將香港發展成新的國際創新科技城市。新發展計劃包括北部都會區、交椅洲人工島及將軍澳第137區。 As mentioned in the Policy Address, the Chief Executive hasmoved ahead a few major development plans to increase andspeed up housing and land supply in quantity and quality; tobuild up a third Central Business District; and to develop HongKong into a new international innovation and technology city.New development plans include the Northern Metropolis, KauYi Chau Artificial Island and Tseung Kwan O Area 137. The Chief Executive also plans to take forward three major roadprojects and three strategic railway projects, including NorthernMetropolis Highway, Shatin Bypass, Tseung Kwan O-Yau TongTunnel, a new Central Rail Link, Hong Kong-Shenzhen WesternRail Link and Tseung Kwun O Southern Line to bring about ahighly inter-connected and accessible road network and railsystem to support the future development of