剑虹集团控股年报 2025

CONTENTSCorporate InformationChairman’s StatementManagement Discussion and AnalysisCorporate Governance ReportEnvironmental, Social and Governance ReportProfile of Directors and Senior ManagementDirectors’ ReportIndependent Auditor’s ReportConsolidated Statement of Profit or Loss andOther Comprehensive IncomeConsolidated Statement of Financial PositionConsolidated Statement of Changes in EquityConsolidated Statement of Cash FlowsNotes to the Consolidated Financial StatementsFinancial Summary 劍虹集團控股有限公司2024/25年報25716375663748586888991207 K. H. Group Holdings Limited2024/25 Annual Report2BOARD OF DIRECTORSEXECUTIVE DIRECTORSMr. Chang Chih-Chia(Chairman)(appointed on 6 May 2024)Dr. Huang Yuan(Chairman)(resigned on 18 April 2024)Mr. Bu Youjun (resigned on 21 June 2024)Mr. Yang XuefengDr. Wang Lei (appointed on 21 June 2024)INDEPENDENT NON-EXECUTIVE DIRECTORSMs. Liu Yixing (appointed on 6 May 2024)Mr. Liu Xin (resigned on 6 May 2024)Mr. Feng ZhidongMr. Wang Bo (resigned on 21 January 2025)Ms. Situ Danni (appointed on 17 April 2025)COMPANY SECRETARYMs. Lo Wan ManAUDIT COMMITTEEMs. Liu Yixing(Chairman)(appointed on 6 May 2024)Mr. Liu Xin(Chairman)(resigned on 6 May 2024)Mr. Feng ZhidongMr. Wang Bo (resigned on 21 January 2025)Ms. Situ Danni (appointed on 17 April 2025)NOMINATION COMMITTEEMr. Chang Chih-Chia(Chairman)(appointed on 6 May 2024)Dr. Huang Yuan(Chairman) (resigned on 18 April 2024)Mr. Liu Xin (resigned on 6 May 2024)Mr. Wang Bo (resigned on 21 January 2025)Ms. Liu Yixing (appointed on 6 May 2024)Ms. Situ Danni (appointed on 17 April 2025) CORPORATE INFORMATIONREMUNERATION COMMITTEEMs. Liu Yixing(Chairman)(appointed on 6 May 2024)Mr. Liu Xin(Chairman)(resigned on 6 May 2024)Mr. Feng ZhidongMr. Wang Bo (resigned on 21 January 2025)Ms. Situ Danni (appointed on 17 April 2025)HEAD OFFICE AND PRINCIPAL PLACE OFBUSINESS IN HONG KONGUnit 01, 86/FInternational Commerce Centre1 Austin Road WestKowloonHong KongAUDITORMcMillan Woods (Hong Kong) CPA LimitedPRINCIPAL SHARE REGISTRAR AND TRANSFEROFFICEOcorian Trust (Cayman) Ltd.Windward 3Regatta Office ParkP. O. Box 1350Grand CaymanKY1-1108Cayman Islands 劍虹集團控股有限公司2024/25年報18601Ocorian Trust (Cayman) Ltd.Windward 3Regatta Office ParkP. O. Box 1350Grand CaymanKY1-1108Cayman Islands 3 K. H. Group Holdings Limited2024/25 Annual Report4CORPORATE INFORMATIONPRINCIPAL BANKERSBank of China (Hong Kong) LimitedDah Sing Bank, LimitedDBS Bank (Hong Kong) LimitedFujian Haixia Bank Co., Ltd.The Bank of East Asia, LimitedThe Hongkong and Shanghai Banking Corporation LimitedHONG KONG BRANCH SHARE REGISTRAR ANDTRANSFER OFFICEUnion Registrars LimitedSuites 3301-04, 33/FTwo Chinachem Exchange Square338 King’s RoadNorth PointHong KongSTOCK CODE01557WEBSITEwww.kh-holdings.com 3382333301-0401557www.kh-holdings.com CHAIRMAN’S STATEMENT劍虹集團控股有限公司2024/25年報Dear shareholders,PROSPECTSThe Group’s overall revenue decreased by approximately 26.0%toapproximately HK$129,580,000 during the year ended 31March 2025 (the “Year”) (during the year ended 31 March 2024(the “Comparative Year”): HK$175,174,000). The loss and totalcomprehensive loss during the Year attributable to owners of theCompany amounted to approximately HK$57,592,000 (during theComparative Year: HK$51,560,000).The Group operated under considerable pressure throughout theYear amid a complex operating environment in the Hong Kongconstruction industry. Industry-wide challenges included persistentlabour shortages, an aging workforce and cooling property market.Externally, elevated interests rates, continued U.S. trade protectionistpolicies and a generally sluggish global economy also have significantimpact on investor sentiment and business performance. Theseconditions significantly constrained project activity and compressedprofit margins, particularly in the Group’s core foundation segment inHong Kong. In light of these developments, the Group has prudentlyadopted a more conservative approach by prioritizing liquiditymanagement, reducing capital expenditures, accelerating recoveryof receivables, and lowering finance costs through disposal ofnon-performing assets and repayment of interest-bearing debts.Despite the implementation of these measures, our Hong Kongfoundation business continued to record significant losses during theYear. Following a comprehensive strategic review of our operationsand the market outlook, the Board concluded that the long-termprospects in Hong Kong construction segment remain uncertain.As such, the Board is actively evaluating a potential divestment ofits foundation business in Hong Kong and exploring new businessopportunities in other sectors. This strategic move is aimed atstreamlining operations, reducing exposure to structurally challengedsegments, and redeploying capital towards markets with strongergrowth potential.129,580,000175,174,000 526.0%57,592,00051,560,000 K. H. Group Holdings Limited2024/25 Annual Report6CHAIRMAN’S STATEMENTConcurrently,our strategic review identified more promisingoppo