宝联控股：2025年报

GEM CHARACTERISTICS OF GEM OF THE STOCK EXCHANGE OFHONG KONG LIMITED (THE “STOCK EXCHANGE”) GEM GEM has been positioned as a market designed to accommodatesmall and mid-sized companies to which a higher investmentrisk may be attached than other companies listed on the StockExchange. Prospective investors should be aware of the potentialrisks of investing in such companies and should make thedecision to invest only after due and careful consideration. GEMGEMGEM Given that the companies listed on GEM are generally smalland mid-sized companies, there is a risk that securities tradedon GEM may be more susceptible to high market volatility thansecurities traded on the main board of the Stock Exchange andno assurance is given that there will be a liquid market in thesecurities traded on GEM. 香港交易及結算所有限公司以及聯交所對本報告之內容概不負責，對其準確性或完整性亦不發表任何聲明，並明確表示概不會就本報告全部或任何部分內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 Hong Kong Exchanges and Clearing Limited and the Stock Exchangetake no responsibility for the contents of this report, make norepresentation as to its accuracy or completeness and expressly disclaimany liability whatsoever for any loss howsoever arising from or in relianceupon the whole or any part of the contents of this report. 本報告之資料乃遵照聯交所GEM證券上市規則（「GEM上市規則」）而刊載，旨在提供有關寶聯控股有限公司（「本公司」）之資料。各董事（「董事」）願就本報告共同及個別承擔全部責任，並在作出一切合理查詢後確認，就彼等所深知及確信，本報告所載資料在各重大方面均屬準確完整，且無誤導或欺詐成分及本報告並無遺漏任何其他事項，致使本報告所載任何陳述或本報告產生誤導。 This report, for which the directors (the “Directors”) of PPS International(Holdings) Limited (the “Company”) collectively and individually acceptfull responsibility, includes particulars given in compliance with the RulesGoverning the Listing of Securities on GEM of the Stock Exchange (the“GEM Listing Rules”) for the purpose of giving information with regardto the Company. The Directors, having made all reasonable enquiries,confirm that to the best of their knowledge and belief the informationcontained in this report is accurate and complete in all material respectsand not misleading or deceptive, and there are no other matters theomission of which would make any statement herein or this reportmisleading. CONTENTS目錄 Corporate Information3公司資料Management Discussion and Analysis5管理層討論及分析Biographical Details of Directors and Senior Management23董事及高級管理人員履歷Directors’ Report26董事會報告Corporate Governance Report39企業管治報告Environmental, Social and Governance Report56環境、社會及管治報告Independent Auditor’s Report95獨立核數師報告Consolidated Statement of Profit or Loss101綜合損益表Consolidated Statement of Profit or Loss and Other Comprehensive Income102綜合損益及其他全面收益表Consolidated Statement of Financial Position103綜合財務狀況表Consolidated Statement of Changes in Equity105綜合權益變動表Consolidated Statement of Cash Flows107綜合現金流量表Notes to the Consolidated Financial Statements109綜合財務報表附註Five-Year Financial Summary188五年財務摘要 CORPORATE INFORMATION公司資料 BOARD OF DIRECTORS 余紹亨先生（主席兼行政總裁）黎天明先生 Executive Directors Mr. Yu Shaoheng(Chairman and Chief Executive Officer)Mr. Lai Tin Ming 陳雪玲女士 Non-Executive DirectorMs. Chan Suet Ling Independent Non-Executive Directors 鄺子程先生孟恩海先生倪富華先生 Mr. Kwong Tsz Ching, JackMr. Meng EnhaiMr. Ni Fuhua COMPANY SECRETARYMr. Chan Woon Wing 陳煥榮先生 AUTHORISED REPRESENTATIVES 黎天明先生陳煥榮先生 Mr. Lai Tin MingMr. Chan Woon Wing 余紹亨先生 COMPLIANCE OFFICERMr. Yu Shaoheng AUDIT COMMITTEE 鄺子程先生（主席）孟恩海先生倪富華先生 Mr. Kwong Tsz Ching, Jack(Chairman)Mr. Meng EnhaiMr. Ni Fuhua REMUNERATION COMMITTEE 鄺子程先生（主席）孟恩海先生倪富華先生 Mr. Kwong Tsz Ching, Jack(Chairman)Mr. Meng EnhaiMr. Ni Fuhua 鄺子程先生（主席）孟恩海先生倪富華先生 NOMINATION COMMITTEE Mr. Kwong Tsz Ching, Jack(Chairman)Mr. Meng EnhaiMr. Ni Fuhua AUDITOR 天職香港會計師事務所有限公司 Baker Tilly Hong Kong Limited CORPORATE INFORMATION公司資料 REGISTERED OFFICE Cricket Square, Hutchins DriveP.O. Box 2681Grand Cayman, KY1-1111Cayman Islands Cricket Square, Hutchins DriveP.O. Box 2681Grand Cayman, KY1-1111Cayman Islands HEADQUARTER, HEAD OFFICE AND PRINCIPALPLACE OF BUSINESS IN HONG KONG 香港九龍九龍灣偉業街38號富臨中心A座12樓A室 Office A, 12/FTower A, Capital TowerNo. 38 Wai Yip StreetKowloon BayKowloonHong Kong PRINCIPAL SHARE REGISTRAR AND TRANSFEROFFICE IN CAYMAN ISLANDS Codan Trust Company (Cayman) LimitedCricket Square, Hutchins DriveP.O. Box 2681Grand Cayman, KY1-1111Cayman Islands Codan Trust Company (Cayman) LimitedCricket Square, Hutchins DriveP.O. Box 2681Grand Cayman, KY1-1111Cayman Islands HONG KONG BRANCH SHARE REGISTRAR ANDTRANSFER OFFICE 卓佳證券登記有限公司香港夏慤道16號遠東金融中心17樓 Tricor Investor Services Limited17/FFar East Finance Centre16 Harcourt RoadHong Kong 南洋商業銀行有限公司渣打銀行（香港）有限公司 PRINCIPAL BANKERS Nanyang Commercial Bank, LimitedStandard Chartered Bank (HK) Limited LEGAL ADVISERRowdget W. Young & Co. Solicitors 楊振文律師行 8201 STOCK CODE8201 WEBSITEhttp://www.ppsintholdings.com http://www.ppsintholdings.com MANAGEMENT DISCUSSION AND ANALYSIS管理層討論及分析 BUSINESS OVERVIEW Environmental and Cleaning Services 本集團的主要業務為於香港及中國提供環境服務，包括提供下列各項清潔及相關服務：(i)公眾地方及辦公室清潔服務，其涉及清潔公眾地方、地氈、地板、廁所、更衣室、升降機及自動梯，以及在商業大廈（及其租戶）、住宅屋苑、購物商場、酒店及公共運輸設施（如機場、渡輪、渡