世纪集团国际2025年报

CONTENTS Corporate Information2 Financial Highlights Management Discussion and Analysis6 Biographical Details of Directors10 Corporate Governance Report13 Report of Directors32 Independent Auditor’s Report44 Consolidated Statement of Profit or Loss and Other Comprehensive Income Consolidated Statement of Financial Position Consolidated Statement of Changes in Equity51 Consolidated Statement of Cash Flows52 Notes to the Consolidated Financial Statements54 CORPORATE INFORMATION BOARD OF DIRECTORS Executive DirectorsMr. Man Wai Lun Independent Non-executive DirectorsMr. Law, Michael Ka MingMr. Chung Man LaiMs. Lam Yuen Man Maria AUDIT COMMITTEE Ms. Lam Yuen Man Maria(Chairman)Mr. Law, Michael Ka MingMr. Chung Man Lai REMUNERATION COMMITTEE Mr. Law, Michael Ka Ming(Chairman)Mr. Chung Man LaiMs. Lam Yuen Man Maria NOMINATION COMMITTEE Mr. Chung Man Lai(Chairman)Mr. Law, Michael Ka MingMs. Lam Yuen Man Maria Mr. Lee Cheuk Man AUTHORISED REPRESENTATIVES Mr. Man Wai LunMr. Lee Cheuk Man HEADQUARTER AND PRINCIPAL PLACE OFBUSINESS IN HONG KONG 316D Office D, 16/FKings Wing Plaza 1No. 3 On Kwan StreetShek MunNew TerritoriesHong Kong HONG KONG BRANCH SHARE REGISTRAR ANDTRANSFER OFFICE 3382333301-04 Union Registrars LimitedSuites 3301-04, 33/F.Two Chinachem Exchange Square338 King’s RoadNorth Point, Hong Kong PRINCIPAL BANK Shanghai Commercial Bank Ltd. AUDITOR 2-4LL Tower 21A OOP CPA & Co.Certified Public AccountantsRegistered Public Interest Entity AuditorsUnit A, 21/F, LL Tower2-4 Shelley StreetCentral, Hong Kong www.centurygroup.com.hk COMPANY WEBSITE www.centurygroup.com.hk STOCK CODE 21132113 FINANCIAL HIGHLIGHTS MANAGEMENT DISCUSSION AND ANALYSIS BUSINESS REVIEW Construction and site formation services 22(a)(b)(c)(d) The Group has over 22 years of experience in providing site formation works as asubcontractor in Hong Kong (“Construction Segment”). The site formation worksundertaken by the Group generally include (a) general earthworks (including soiland rock excavation, disposal of construction and demolition materials, backfillingand compaction for forming a new site or achieving designed formation level forlater development); (b) tunnel excavation works (including rock excavation works forconstruction of tunnels through drill and break and/or drill and blast methods as wellas construction of associated temporary tunnel support structures); (c) foundationworks (including excavation and lateral support works (the “ELS”) and associatedstructural works for construction of pile caps for commercial and residential buildingprojects); and (d) road and drainage works. 12310,000,000323,600,00013,600,000114,100,000123,100,00018,400,000 As at 31 March 2025, there was 1 (2024: 2) project on hand with total contractsum amounting to approximately HK$310.0 million (2024: approximately HK$323.6million). The project was substantially completed. For the year ended 31 March2025 (the “Reporting Period”), there was 1 (2024: 2) project of contract sumamounting to approximately HK$13.6 million (2024: approximately HK$114.1 million)completed and contributed a turnover of approximately HK$3.1 million (2024:approximately HK$18.4 million) to the Group. 11,000,000112,800,000900,000 During the Reporting Period, the Group was not awarded any project (2024: 1,Kwai Tsing District, contract sum of approximately HK$1.0 million). As at 31 March2025, the project together with related variation orders on hand are in progressand approximately HK$12.8 million has been recognised as revenue up to 31March 2025 while approximately HK$0.9 million of the revenue was generated fromprevious completed projects. Set out below is a list of projects completed during the Reporting Period and thoseprojects which are still in progress at 31 March 2025: Type of Work Site Location Contract Sum(HK$ Million) Kwun Tong DistrictShatin District Site formation worksBlasting and tunnel works Trading of Liquefied Natural Gas (“LNG”) During the year ended 31 March 2024, the Group discontinued its trading of LNGbusiness in the People’s Republic of China. MANAGEMENT DISCUSSION AND ANALYSIS Prospects The Company confirms that its business operations continue to rest on a solidfoundation, despite prevailing market conditions. The Group is navigating thecurrent slowdown in Hong Kong’s construction sector, which has been impactedby a sluggish economy and weakened real estate market. The market dynamicshave resulted in fewer available private-sector construction projects and intensifiedcompetition, prompting more aggressive bidding strategies among participants.The Company acknowledges that its historical emphasis on site formation,tunnelling, and blasting works has limited its ability to fully capitalize on certainemerging market opportunities, particularly those arising from new developmentinitiatives such as the Northern Metropolis. To address this competitive marketenvironment, the Company has proactively implemented