澳达控股2025 中期报告

CONTENTS目錄 2Corporate Information公司資料4Management Discussion and Analysis管理層討論及分析12Disclosure of Interests權益披露15Corporate Governance and Other Information企業管治及其他資料17Unaudited Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income未經審核簡明綜合損益及其他全面收益表18Unaudited Condensed Consolidated Statement of Financial Position未經審核簡明綜合財務狀況表20Unaudited Condensed Consolidated Statement of Changes in Equity未經審核簡明綜合權益變動表21Unaudited Condensed Consolidated Statement of Cash Flows未經審核簡明綜合現金流量表22Notes to the Unaudited Condensed Consolidated Financial Statements未經審核簡明綜合財務報表附註 CORPORATE INFORMATION公司資料 董事會 BOARD OF DIRECTORS 執行董事 Executive Directors 尹民強先生（主席兼行政總裁）尹志偉先生俞志軍先生 Mr. Wan Man Keung(Chairman and Chief Executive Officer)Mr. Wun Chi WaiMr. Yu Chi Kwan 非執行董事 Non-Executive Director 簡尹慧兒夫人 Mrs. Kan Wan Wai Yee Mavis 獨立非執行董事 Independent Non-Executive Directors 劉炳章先生陳德怡女士黃威文博士工程師 Mr. Lau Ping Cheung KaizerMs. Chen Tak Yee DickdyIr Dr. Wong Wai Man Raymond 董事委員會 BOARD COMMITTEES 審核委員會 Audit Committee 陳德怡女士（主席）簡尹慧兒夫人黃威文博士工程師 Ms. Chen Tak Yee Dickdy(Chairlady)Mrs. Kan Wan Wai Yee MavisIr Dr. Wong Wai Man Raymond 薪酬委員會 Remuneration Committee 黃威文博士工程師（主席）劉炳章先生簡尹慧兒夫人 Ir Dr. Wong Wai Man Raymond(Chairman)Mr. Lau Ping Cheung KaizerMrs. Kan Wan Wai Yee Mavis 提名委員會 Nomination Committee 劉炳章先生（主席）陳德怡女士尹民強先生 Mr. Lau Ping Cheung Kaizer(Chairman)Ms. Chen Tak Yee DickdyMr. Wan Man Keung 授權代表 AUTHORISED REPRESENTATIVES Ms. Yim Ka Wing (resigned on 13 February 2025)Mr. Wan Man KeungMr. Wan Ying Pang (appointed on 13 February 2025) 嚴家穎女士（於二零二五年二月十三日辭任)尹民強先生溫應鵬先生（於二零二五年二月十三日獲委任） 公司秘書 COMPANY SECRETARY 嚴家穎女士（於二零二五年二月十三日辭任)溫應鵬先生（於二零二五年二月十三日獲委任） Ms. Yim Ka Wing (resigned on 13 February 2025)Mr. Wan Ying Pang (appointed on 13 February 2025) CORPORATE INFORMATION公司資料 核數師 AUDITORS 容誠（香港）會計師事務所有限公司（前稱先機會計師行有限公司）執業會計師註冊公眾利益實體核數師 Rongcheng (Hong Kong) CPA Limited(formerly CL Partners CPA Limited)Certified Public AccountantsRegistered Public Interest Entity Auditors 主要股份過戶登記處 PRINCIPAL SHARE REGISTRAR ANDTRANSFER OFFICE Conyers Trust Company (Cayman) LimitedCricket SquareHutchins DriveP.O. Box 2681Grand Cayman KY1-1111Cayman Islands Conyers Trust Company (Cayman) LimitedCricket SquareHutchins DriveP.O. Box 2681Grand Cayman KY1-1111Cayman Islands 香港股份過戶登記分處 HONG KONG BRANCH SHARE REGISTRARAND 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 註冊辦事處 REGISTERED OFFICE Cricket SquareHutchins DriveP.O. Box 2681Grand Cayman KY1-1111Cayman Islands Cricket SquareHutchins DriveP.O. Box 2681Grand Cayman KY1-1111Cayman Islands 總部及主要營業地點 HEADQUARTERS AND PRINCIPAL OFFICEOF BUSINESS 香港柴灣永泰道70號柴灣工業城2期4樓1室 Unit 1, 4/FChai Wan Industrial City Phase II70 Wing Tai RoadChai WanHong Kong 本公司網站semhld.com COMPANY WEBSITE semhld.com 股份代號9929 STOCK CODE9929 MANAGEMENT DISCUSSION AND ANALYSIS管理層討論及分析 業務回顧及市場前景 BUSINESS REVIEW AND MARKET PROSPECT 澳達控股有限公司（「本公司」），連同其附屬公司（統稱「本集團」）是澳門及香港享有盛譽的知名電力及機械（「機電」）工程承建商，專注於電纜貿易及提供電氣相關的機電工程。我們機電工程的業務範圍主要包括商業、住宅及公眾物業開發、酒 店 及 娛 樂 場 開 發 項 目 中 新 建 及 現 有 樓 宇 的 電氣 系 統 的 供 應、安 裝、翻 新 及 保 養。於 截 至 二 零二五年六月三十日止六個月（「二零二五期間」），本 集 團 透 過 拓 展 電 纜 貿 易 新 業 務 持 續 分 散 市 場風險及不明朗因素，同時致力鞏固機電工程業務之市場地位。 SEM Holdings Limited (the “Company”), together with its subsidiaries(collectively, the “Group”) is a renowned and established electricaland mechanical (“E&M”) engineering works contractor in Macau andHong Kong with focus on trading of electrical cables and providingelectrical-related E&M engineering works. The scope of our E&Mengineering works mainly consisted of supply, installation, renovation,and maintenance of electrical systems, for new and existing buildingsin the projects of commercial, residential and public propertydevelopment, hotel and casino development. During the six monthsended 30 June 2025 (the “Period 2025”), the Group has continued todiversify its market risks and uncertainties by entering a new businessof trading of electrical cables while constantly striving to stabilise ourmarket position in the E&M engineering business. 截至二零二五年六月三十日止六個月，本集團錄得總收益約21.5百萬港元，較截至二零二四年六月三十日止六個月（「二零二四期間」）的約50.9百萬港元減少約29.3百萬港元或57.7%。收益減少主要是由於香港和澳門的建築業市場低迷。經濟復甦步伐遲緩、全球經濟前景不明及借貸成本上漲導致香港建築業市場持續低迷。 During the six months ended 30 June 2025, the Group recordedtotal revenue of approximately HK$21.5 million, which decreased byapproximately HK$29.3 million or 57.7% from approximately HK$50.9million for the six months ended 30 June 2024 (the “Period 2024”).The decrease was mainly due to the sluggishness in the constructionmarkets of Hong Kong and Macau. The slow economic recovery,global economy’s uncertainties and elevated borrowing costs have ledto the continuous sluggishness. 本 集 團 於 二 零 二 五 期 間 從 香 港 項 目 產 生 收 益 約5.7百萬港元，較二零二四期間的收益約43.5百萬港元減少約86.8%。該減少乃由於本中期期初已完成規模較大項目。本集團於二零二五期間進軍電纜貿易市場以拓寬收益來源。二零二五期間電纜貿易業務產生的收益為2.4百萬港元。 The Group generated revenue of approximately HK$5.7 millionfrom Hong Kong projects for the