铸帝控股2025/26 中期报告

Stock Code: 1413(Incorporated in the Cayman Islands with limited liability) 目錄CONTENTS 02–04Corporate Information05–13Management Discussion and Analysis14–42Condensed Consolidated Interim FinancialStatements43–50Corporate Governance/Other Information CORPORATE INFORMATION公司 資 料 BOARD OF DIRECTORSExecutive Directors 董 事 會執 行 董 事 Mr. Yang Zhenwei(Co-chairperson)Ms. Yang Yuangui(Co-chairperson)(appointed on 8 October 2025)Mr. Cheung Tung Tsun Billy(Chairman)(retired on 18 September 2025)Mr. Yip Kwong CheungMs. Luo Tingting(resigned on 21 July 2025)Mr. Li Yujia(appointed on 21 November 2025)Mr. Xie Rong(retired on 18 September 2025)Mr. Yang WeiMr. Yuen Koon Tung(retired on 18 September 2025)Mr. Deng Hua Cheng Independent Non-Executive Directors 獨 立 非 執 行 董 事 Andre Pierre Lajeunesse Ms. Lai Pik Chi Peggy(resigned on 20 August 2025)Mr. Wong Kwok On(resigned on 20 August 2025)Mr. Tang Man JoeMr. Andre Pierre Lajeunesse(retired on 18 September 2025)Mr. Chan Siu Kei Ken(appointed on 20 August 2025)Mr. Sin Kwok Chui Malon(appointed on 20 August 2025) 審 核 委 員會 AUDIT COMMITTEE Ms. Lai Pik Chi Peggy(Chairlady)(resigned on 20 August 2025)Mr. Sin Kwok Chui Malon(Chairman)(appointed on 20 August 2025)Mr. Wong Kwok On(resigned on 20 August 2025)Mr. Tang Man JoeMr. Chan Siu Kei Ken(appointed on 20 August 2025) REMUNERATION COMMITTEE 薪 酬 委 員會 Mr. Chan Siu Kei Ken(Chairman)(appointed on 20 August 2025)Mr. Wong Kwok On(Chairman)(resigned on 20 August 2025)Ms. Lai Pik Chi Peggy(resigned on 20 August 2025)Mr. Tang Man JoeMr. Cheung Tung Tsun Billy(retired on 18 September 2025)Mr. Sin Kwok Chui Malon(appointed on 18 September 2025) 提 名委 員會 NOMINATION COMMITTEE Mr. Tang Man Joe(Chairman)Mr. Yang ZhenweiMs. Lai Pik Chi Peggy(resigned on 20 August 2025)Mr. Wong Kwok On(resigned on 20 August 2025)Mr. Sin Kwok Chui Malon(appointed on 20 August 2025)Ms. Yang Yuangui(appointed on 8 October 2025)Mr. Chan Siu Kei Ken(appointed on 8 October 2025) 授權 代 表 AUTHORISED REPRESENTATIVES Mr. Ho Yuk Ming Hugo(resigned on 11 July 2025)Mr. Cheung Tung Tsun Billy(retired on 18 September 2025)Mr. Yuen Sing Wai Lester(appointed on 11 July 2025)Mr. Yang Zhenwei(appointed on 13 November 2025) COMPANY SECRETARY 公司 秘 書 Mr. Ho Yuk Ming Hugo(resigned on 31 July 2025)Mr. Yuen Sing Wai Lester(appointed on 11 July 2025) 法 律 顧 問 LEGAL ADVISERAs to Hong Kong law 有 關 香 港 法 律 David Fong & Co.Unit A, 12th FloorChina Overseas Building139 Hennessy RoadWanchai, Hong Kong 13912A As to Cayman Islands law 有 關 開 曼 群 島法 律 ApplebySuites 4201–03 & 1242/F, One Island EastTaikoo Place18 Westlands RoadQuarry Bay, Hong Kong 18424201–0312 開 曼群 島 註 冊 辦 事 處 REGISTERED OFFICE IN THE CAYMAN ISLANDS 71 Fort StreetPO Box 500George TownGrand CaymanKY1-1106Cayman Islands 71 Fort StreetPO Box 500George TownGrand CaymanKY1-1106Cayman Islands 公司 資 料CORPORATE INFORMATION HEADQUARTERS AND PRINCIPAL PLACE OFBUSINESS IN HONG KONG 總 部及香 港 主 要 營 業 地 點 Unit 1801, 18/F.V. Heun BuildingNo.138 Queen’s Road CentralHong Kong 138181801 開 曼群 島 股 份 過 戶 登 記 總 處 CAYMAN ISLANDS PRINCIPAL SHAREREGISTRAR AND TRANSFER OFFICE Appleby Global Services (Cayman) Limited71 Fort StreetPO Box 500George TownGrand CaymanKY1-1106Cayman Islands Appleby Global Services (Cayman) Limited71 Fort StreetPO Box 500George TownGrand CaymanKY1-1106Cayman Islands 香 港 股 份 過 戶 登 記 分處 HONG KONG BRANCH SHARE REGISTRARAND TRANSFER OFFICE Boardroom Share Registrars (HK) Limited2103B, 21/F, 148 Electric RoadNorth Point, Hong Kong 148212103B 主 要 往 來 銀 行83 PRINCIPAL BANKER Hang Seng Bank Limited83 Des Voeux RoadCentral, Hong Kong COMPANY’S WEBSITEwww.feg-holdings.com 本公司 網 站www.feg-holdings.com 股 份 代 號1413 STOCK CODE 1413 MANAGEMENT DISCUSSION AND ANALYSIS管 理 層 討 論 及 分析 行 業 概 覽 INDUSTRY OVERVIEW Hong Kong has experienced economic slowdown in recenty e a r s , l e a d i n g t o a r a n g e o f u n s t a b l e f a c t o r s t h a t p o s echallenges to the residential and commercial property market. Inparticular, individuals and property investors have become morehesitate in purchasing property and property developers havebecome more cautious in tendering residential developments.This leads to a decrease in demand for property developmentsas well as the overall demand for foundation works in residentialand commercial developments. However, the Government ofHong Kong (the “Government”) has been actively developinglands, leading a surge in number of infrastructure developments. 政 府 Hong Kong’s business activity has resumed normal since the endof COVID-19 since the end of 2022. Led by inbound tourism andprivate consumption, the Hong Kong economy continued torecover during the Period. According to the Government, HongKong real GDP increased by 3.1% year-on-year in the secondquarter.The Government foresees continue growth in theeconomy but noting that performance of different economicsegments may vary amid uncertainties. COVID-193.1% With the introduction of the Enhanced Supplementary L