德合集团2025年中期报告

Contents目錄 CorporateInformation公司資料2 ManagementDiscussionandAnalysis管理層討論及分析4 CorporateGovernanceandOtherInformation企業管治及其他資料10 InterimCondensedConsolidatedStatementofComprehensiveIncome中期簡明綜合全面收益表15 InterimCondensedConsolidatedStatementofFinancialPosition中期簡明綜合財務狀況表16 InterimCondensedConsolidatedStatementofChangesinEquity中期簡明綜合權益變動表18 InterimCondensedConsolidatedStatementofCashFlows中期簡明綜合現金流量表19 NotestotheInterimCondensedConsolidatedFinancialInformation中期簡明綜合財務資料附註20 CorporateInformation公司資料 DIRECTORS 吳志超先生（主席兼行政總裁）趙海燕女士 ExecutiveDirectorsMr.NgChiChiu(ChairmanandChiefExecutiveOfficer)Ms.ZhaoHaiyanChloe 何嘉恩博士葉杰洲先生羅洪偉先生，CPA IndependentNon-executiveDirectors Dr. Ho Ka YanMr.YipKitChauMr.LawHungWai,CPA AUDITCOMMITTEE 葉杰洲先生（主席）何嘉恩博士羅洪偉先生，CPA Mr.YipKitChau(Chairman)Dr. Ho Ka YanMr.LawHungWai,CPA NOMINATIONCOMMITTEE 吳志超先生（主席）葉杰洲先生羅洪偉先生，CPA何嘉恩博士（自二零二五年六月三十日起獲委任） Mr.NgChiChiu(Chairman)Mr.YipKitChauMr.LawHungWai,CPADr. Ho Ka Yan (Appointment with effect from 30 June 2025) REMUNERATIONCOMMITTEE 羅洪偉先生，CPA（主席）何嘉恩博士葉杰洲先生 Mr.LawHungWai,CPA(Chairman)Dr. Ho Ka YanMr.YipKitChau COMPANYSECRETARY Mr.ShumHoiLuen 沈凱聯先生 AUTHORISEDREPRESENTATIVES 吳志超先生沈凱聯先生 Mr.NgChiChiuMr.ShumHoiLuen AUDITOR 羅兵咸永道會計師事務所執業會計師註冊公眾利益實體核數師 PricewaterhouseCoopersCertifiedPublicAccountantsRegisteredPublicInterestEntityAuditor 李偉斌律師行 HONGKONGLEGALADVISER Li&Partners CorporateInformation公司資料 REGISTEREDOFFICEINTHECAYMANISLANDS CricketSquareHutchinsDriveP.O.Box2681GrandCayman,KY1-1111CaymanIslands Cricket SquareHutchins DriveP.O. Box 2681Grand Cayman, KY1-1111Cayman Islands HEADQUARTERANDPRINCIPALPLACEOFBUSINESSINHONGKONG 18/F, Chevalier Commercial Centre8 Wang Hoi RoadKowloon BayHong Kong 香港九龍灣宏開道8號其士商業中心18樓 PRINCIPALSHAREREGISTRARANDTRANSFEROFFICE Conyers Trust Company (Cayman) LimitedCricket SquareHutchins DriveP.O. Box 2681Grand Cayman, KY1-1111Cayman Islands ConyersTrustCompany(Cayman)LimitedCricketSquareHutchinsDriveP.O.Box2681GrandCayman,KY1-1111CaymanIslands HONGKONGBRANCHSHAREREGISTRARANDTRANSFEROFFICE 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 TricorInvestorServicesLimited17/F,FarEastFinanceCentre16HarcourtRoadHongKong PRINCIPALBANKERS 星展銀行（香港）有限公司香港上海滙豐銀行有限公司 DBSBank(HongKong)LimitedTheHongkongandShanghaiBankingCorporationLimited 0368 STOCKCODE 0368 www.superland-group.com CORPORATEWEBSITEwww.superland-group.com ManagementDiscussionandAnalysis管理層討論及分析 FINANCIALREVIEW Revenue TherevenueofSuperlandGroupHoldingsLimited(the“Company”,togetherwithitssubsidiaries,collectivelythe“Group”)forthesixmonthsended30June2025and2024wereapproximatelyHK$450,905,000andapproximatelyHK$404,683,000,respectively,representinganincreaseofapproximately11.4%. 截至二零二五年及二零二四年六月三十日止六個月，德 合 集 團 控 股 有 限 公 司（「」，連同 其 附 屬 公 司 統 稱「」）的 收 益 分 別 約 為450,905,000港 元 及 約 為404,683,000港 元，增 幅約為11.4%。 The increase in the revenue was mainly due to an increasing numberof small-scale projects undertaken by the Group during the periodunder review. 收益增加乃主要由於回顧期內本集團承接的小型項目數量增加所致。 Gross profit and gross profit margin The gross profit of the Group for the six months ended 30 June 2025and 2024 were approximately HK$51,376,000 and approximatelyHK$55,843,000, respectively, representing a decrease ofapproximately 8.0%. 截至二零二五年及二零二四年六月三十日止六個月，本集團的毛利分別約為51,376,000港元及約為55,843,000港元，減幅約8.0%。 截至二零二五年及二零二四年六月三十日止六個月，本 集 團 的 毛 利 率 分 別 約 為11.4%及 約 為13.8%。 The gross profit margin of the Group for the six months ended 30June 2025 and 2024 were approximately 11.4% and approximately13.8%, respectively. The decrease in both the gross profit and the gross profit margin wasprimarily due to the lower gross profit margin generated from small-scale projects undertaken by the Group during the period underreview. 毛利及毛利率減少主要由於回顧期內本集團承接的小型項目所產生的毛利率較低所致。 Other gains/(losses), net The net other gains/(losses) of the Group for the six months ended30 June 2025 and 2024 mainly represented the changes in value ofthe investments in insurance contracts. 截至二零二五年及二零二四年六月三十日止六個月，本集團的其他收益╱（虧損）淨額主要為保險合約投資價值的變動。 Administrative expenses The administrative expenses of the Group for the six months ended30 June 2025 and 2024 were approximately HK$30,592,000 andapproximately HK$31,126,000, respectively, and remained relativelystable. 截至二零二五年及二零二四年六月三十日止六個月，本集團的行政費用分別約為30,592,000港元及約為31,126,000港元，仍然保持相對穩定。 ManagementDiscussionandAnalysis管理層討論及分析 Finance costs The finance costs of the Group for the six months ended 30 June2025 and 2024 were approximately HK$17,708,000 and approximatelyHK$17,451,000, respectively, and remained relatively stable. 截至二零二五年及二零二四年六月三十日止六個月，本集團的財務成本分別約為17,708,000港元及約為17,451,000港元，仍然保持相對穩定。 Profit and total comprehensive income for the periodattributable to owners of the Company A s a r e s u l t o f t h e a b o v e m e n t i o n e d , t h e p r o f i t a n d t o t a lcomprehensive income attributable to owners of the Company forthe six months ended 30 June 2025 and 2024 were approximatelyHK$4,239,000 and approximately HK$4,272,000, respectively, andrema