佳明集团控股2024/25 年报

CONTENTS目錄Corporate InformationFinancial HighlightsFive-Year Financial SummaryChairman’s StatementManagement Discussion and AnalysisReport of the DirectorsBiographies of the Directors and Senior ManagementCorporate Governance ReportIndependent Auditor’s ReportConsolidated Statement of Profit or LossConsolidated Statement of Profit or Loss and Other Comprehensive IncomeConsolidated Statement of Financial PositionConsolidated Statement of Changes in EquityConsolidated Cash Flow StatementNotes to the Consolidated Financial StatementsParticulars of Properties Held by the Group CORPORATE INFORMATION公司資料BOARD OF DIRECTORSExecutive DirectorsMr. Chan Hung Ming(Chairman)Mr. Lau Chi Wah(Chief Executive Officer)Mr. Kwan Wing Wo(Chief Financial Officer)Ms. Tsang Ka ManMs. Chan Pui Yin AppleIndependent Non-Executive DirectorsMr. Tsui Ka WahMr. Kan Yau WoMr. Ho Chiu Yin IvanMr. Lee Chung Yiu JohnnyCOMMITTEES OF THE BOARDAudit CommitteeMr. Ho Chiu Yin Ivan(Chairperson)Mr. Tsui Ka WahMr. Kan Yau WoMr. Lee Chung Yiu JohnnyRemuneration CommitteeMr. Tsui Ka Wah(Chairperson)Mr. Kan Yau WoMr. Ho Chiu Yin IvanMr. Lee Chung Yiu JohnnyNomination CommitteeMr. Kan Yau Wo(Chairperson)Mr. Tsui Ka WahMr. Ho Chiu Yin IvanMr. Lee Chung Yiu JohnnyMs. Chan Pui Yin AppleAUTHORISED REPRESENTATIVESMr. Chan Hung MingMr. Lau Chi WahCOMPANY SECRETARYMr. Leung Wai Chuen,HKICPA, FCCA, ACG, HKACGREGISTERED OFFICECricket Square, Hutchins DriveP.O. Box 2681, Grand Cayman KY1-1111Cayman Islands2GRAND MING GROUP HOLDINGS LIMITEDANNUAL REPORT 2024/25 董事會執行董事陳孔明先生（主席）劉志華先生（行政總裁）關永和先生（財務總監）曾嘉敏女士陳沛妍小姐獨立非執行董事徐家華先生簡友和先生何超然先生李宗燿先生董事委員會審核委員會何超然先生（主席）徐家華先生簡友和先生李宗燿先生薪酬委員會徐家華先生（主席）簡友和先生何超然先生李宗燿先生提名委員會簡友和先生（主席）徐家華先生何超然先生李宗燿先生陳沛妍小姐授權代表陳孔明先生劉志華先生公司秘書梁偉泉先生，HKICPA, FCCA, ACG, HKACG註冊辦事處Cricket Square, Hutchins DriveP.O. Box 2681, Grand Cayman KY1-1111Cayman Islands CORPORATE INFORMATION(Continued)公司資料（續）佳明集團控股有限公司2024/25年報香港總部及主要營業地點香港九龍尖沙咀漆咸道南39號鐵路大廈22樓主要股份過戶登記處Conyers Trust Company (Cayman) LimitedCricket Square, Hutchins DriveP.O. Box 2681, Grand Cayman KY1-1111Cayman Islands股份過戶登記處香港分處卓佳證券登記有限公司香港夏愨道16號遠東金融中心17樓香港法律顧問德恒律師事務所（香港）有限法律責任合夥核數師香港立信德豪會計師事務所有限公司主要往來銀行大新銀行有限公司大華銀行香港分行股份代號1271公司網址www.grandming.com.hkHEADQUARTERS AND PRINCIPAL PLACE OF BUSINESSIN HONG KONG22/F, Railway Plaza, No. 39 Chatham Road SouthTsim Sha Tsui, Kowloon, Hong KongPRINCIPAL SHARE REGISTRAR AND TRANSFER OFFICEConyers Trust Company (Cayman) LimitedCricket Square, Hutchins DriveP.O. Box 2681, Grand Cayman KY1-1111Cayman IslandsBRANCH SHARE REGISTRAR AND TRANSFER OFFICEIN HONG KONGTricor Investor Services Limited17/F, Far East Finance Centre,16 Harcourt Road, Hong KongHONG KONG LEGAL ADVISORDeHeng Law Offices (Hong Kong) LLPAUDITORBDO LimitedPRINCIPAL BANKERSDah Sing Bank, LimitedUnited Overseas Bank Limited, Hong Kong OfficeSTOCK CODE1271COMPANY WEBSITEwww.grandming.com.hk FINANCIAL HIGHLIGHTS財務摘要Revenue(HK$’000)收益（千港元）a. Constructiona.建築b. Property leasingb.物業租賃c. Property developmentc.物業發展(Loss)/profit from operations(HK$’000)經營（虧損）╱溢利（千港元）Operating (loss)/profit excludingchange in fair value ofinvestment properties撇除投資物業公平值變動之經營（虧損）╱溢利Change in fair value of investmentproperties投資物業公平值變動Underlying (loss)/profit(HK$’000)基礎（虧損）╱溢利（千港元）(i)Dividends(HK$’000)股息（千港元）Current ratio流動比率Gearing ratio資本負債比率Net gearing ratio淨資本負債比率Return on equity股本回報Notes:(i)Underlying (loss)/profit is arrived at by excluding the effect of changes infair value of investment properties from profit for the year(ii)Gearing ratio represents total interest-bearing borrowings divided byshareholders’ equity and multiplied by 100%(iii)Net gearing ratio represents total interest-bearing borrowings less cashand bank balances and restricted and pledged deposits divided byshareholders’ equity and multiplied by 100%4GRAND MING GROUP HOLDINGS LIMITEDANNUAL REPORT 2024/25 CHAIRMAN’S STATEMENT主席報告On behalf of the board (the “Board”) of directors (the “Directors”) ofGrand Ming Group Holdings Limited (the “Company”), I am delightedto present the annual report of the Company and its subsidiaries(collectively the “Group”) for the year ended 31 March 2025 (“FY2024/25”).RESULTSFor FY 2024/25, the Group recorded a net loss of HK$292.1 million, ascompared to a net profit of HK$298.5 million for the year ended 31March 2024 (“FY 2023/24”). The turnaround from net profit to net losswas attributable to recognition of (i) impairment loss on the propertyunder development, completed properties held for sale and propertiesheld for own use, due to current unfavourable property market in HongKong, and (ii) a net unrealised fair loss on the investment properties andinvestment properties under development.DIVIDENDSA final dividend for the year ended 31 March 2023 of 5.0 HK cents pershare and a special dividend of 15.0 HK cents per share were paid to theshareholders of the Company (the “Shareholders”) on 18 September2023. An interim dividend for the six months ended 30 September 2023of 4.0 HK cents per share was paid to Shareholders on 20 December