黄河实业年报2025

02CORPORATE INFORMATION03CORPORATE PROFILE06MESSAGE FROM THE CEO11MANAGEMENT DISCUSSION AND ANALYSIS19PROFILE OF DIRECTORS20REPORT OF THE DIRECTORS25CORPORATE GOVERNANCE REPORT34ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT43INDEPENDENT AUDITOR’S REPORT47CONSOLIDATED STATEMENT OF PROFIT OR LOSS ANDOTHER COMPREHENSIVE INCOME48CONSOLIDATED STATEMENT OF FINANCIAL POSITION49CONSOLIDATED STATEMENT OF CHANGES IN EQUITY51CONSOLIDATED STATEMENT OF CASH FLOWS52NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS115FIVE YEAR SUMMARY OF FINANCIAL INFORMATION116LIST OF PROPERTIES0203061119202534434748495152115116 EXECUTIVE DIRECTORS Vong Tat Ieong David (Chief Executive Officer)Xu Siping INDEPENDENT NON-EXECUTIVE DIRECTORS Daphne Bontein da Rosa Gohel (deceased on 17 August 2025)Fung Ka Keung DavidSusie Au Daphne Bontein da Rosa Gohel AUDIT COMMITTEE Daphne Bontein da Rosa Gohel Fung Ka Keung David (Chairman)Daphne Bontein da Rosa Gohel (deceased on 17 August 2025)Susie Au REMUNERATION COMMITTEE Fung Ka Keung David (Chairman)Daphne Bontein da Rosa Gohel (deceased on 17 August 2025)Vong Tat Ieong David Daphne Bontein da Rosa Gohel NOMINATION COMMITTEE Vong Tat Ieong David (Chairman)Daphne Bontein da Rosa Gohel (deceased on 17 August 2025)Fung Ka Keung David Daphne Bontein da Rosa Gohel COMPANY SECRETARY Wong Wing Cheung AUDITOR 38223 Zhonghui Anda CPA Limited23/F., Tower 2, Enterprise Square Five38 Wang Chiu Road, Kowloon BayKowloon, Hong KongRegistered Public Interest Entity Auditors REGISTERED OFFICE Cricket SquareHutchins DriveP.O. Box 2681Grand Cayman KY1-1111Cayman Islands Cricket SquareHutchins DriveP.O. Box 2681Grand Cayman KY1-1111Cayman Islands HEAD OFFICE AND PRINCIPAL PLACE OF BUSINESS IN HONG KONG 17A EGL Tower83 Hung To RoadKwun TongKowloonHong Kong 8317A HONG KONG SHARE REGISTRAR AND TRANSFER OFFICE 1617 Tricor Investor Services Limited17/F, Far East Finance Centre,16 Harcourt RoadHong Kong www.thevongroup.com COMPANY WEBSITE www.thevongroup.com STOCK CODE 318 318 VONGROUP AT A GLANCE CERTAIN KEY PERFORMANCE INDICATORS The following summary of certain indicators is to be read subject to, and in the contextof, fuller details and explanations as provided in the consolidated financial statementsbelow. Total AssetsHK$624.9 M0.7%FY2024: HK$620.8 m Revenue HK$213.1 M4.2%FY2024: HK$204.5 m Net AssetsHK$562.1 M2.9%FY2024: HK$546.5 m Technology-Related Revenue HK$206.8 M4.8%FY2024: HK$197.4 m Gearing Ratio HK$16.0 M6.4%FY2024: HK$17.1 m 0.0820%FY2024: 0.1 CORPORATE PROFILE Vongroup Limited: Enabling Global Businessthrough Innovative Technology IT Vongroup operates globally, headquartered in Hong Kong and with presence in the UK.We provide integrated software, business technology platforms, IT services, and strategicconsulting and business solutions. For over a decade, we have delivered technologysolutions that enable businesses to optimise operations, accelerate digital adoption, andcompete effectively in interconnected markets. (BI)(AI)SaaS Our commitment centres on continuous investment in technology and businessintelligence, expanding our digital ecosystem. Our expertise and solutions includeintegrating cutting-edge AI technology, embracing Business Intelligence, FinTech services,digital Event Management for major global events, E-commerce, EdTech, remote trainingsystems, SaaS mobile enterprise applications, virtual/hybrid event technologies, andenhancing enterprise Messaging and Productivity tools, alongside Big Data Analytics,which in the aggregate solidifies and enhances our customer partnerships, and drivesmutual growth. Advancing our Technology Business: FromEnabling Technology-for-Business to PoweringBusiness Intelligence AI Vongroup’s Technology business’s advancement in its Business Intelligence sub-sectorrepresents the next phase of technology, where human expertise, AI agents, softwaresystems, and data converge and co-evolve. We expect this synergy to drive faster, moreintelligent, and increasingly autonomous business outcomes than ever before. Our technology-for-business systems, with expertise in a range of industry-specificsolutions, have enhanced efficiency and access for our clients. Although decision-makingfor our technology businesses has been largely human-led, the evolution now of machinelearning and AI enables our technology businesses to develop into an exciting new phaseof strategic augmented or autonomous intelligence. AI And throughout this journey, Vongroup’s core value proposition has remained consistent:we bridge the gap between business goals and technical execution. The Industry and our Product Focus Areas 2024-2025(BI)AI The global technology-related services industry in 2024-2025 is undergoing profoundtransformation, shaped by accelerating demand for business intelligence (BI), AIintegration, digital solutions, cloud migration. Enterprises are navigating a dynamiclandscape marked by major technology advancement and acceleration,