顺兴集团控股2025-26中期报告

(Incorporated in the Cayman Islands with limited liability)STOCK CODE1637  CONTENTS 2Corporate Information4Management Discussion and Analysis12Corporate Governance and Other Information17Report on Review of Condensed Consolidated Financial Statements19Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income20Condensed Consolidated Statement of Financial Position22Condensed Consolidated Statement of Changes in Equity23Condensed Consolidated Statement of Cash Flows24Notes to the Condensed Consolidated Financial Statements Corporate Information BOARD OF DIRECTORS Executive DirectorsMr. Yu Cheung Choy(Chairman)Mr. Lau Man Ching(Chief Executive Officer)Mr. Yu Ho Chi Non-executive DirectorMs. Yu Tsz Wai Mr. Lam Yim NamMr. Lee Wing KeeDr. Law Man Wah AUDIT COMMITTEE Dr. Law Man Wah(Chairman)Mr. Lam Yim NamMr. Lee Wing Kee REMUNERATION COMMITTEE Mr. Lam Yim Nam(Chairman)Mr. Lee Wing KeeDr. Law Man Wah NOMINATION COMMITTEE Mr. Lee Wing Kee(Chairman)Mr. Lam Yim NamDr. Law Man WahMs. Yu Tsz Wai FCG, HKFCG COMPANY SECRETARYMr. Tse Kam FaiFCG, HKFCG AUTHORISED REPRESENTATIVESMr. Yu Cheung ChoyMr. Lau Man Ching REGISTERED OFFICE Cricket Square, Hutchins DriveP.O. Box 2681Grand Cayman KY1-1111Cayman Islands Cricket Square, Hutchins DriveP.O. Box 2681Grand Cayman KY1-1111Cayman Islands H E A DO F F I C E A N D P R I N C I PA L P L AC E O F B U S I N E S S I NHONG KONG 8336603-606 Units 603-606, 6/F, Tower ICheung Sha Wan Plaza833 Cheung Sha Wan RoadKowloonHong Kong PRINCIPAL SHARE REGISTRAR AND TRANSFER OFFICE IN THECAYMAN ISLANDS Conyers Trust Company (Cayman) LimitedCricket Square, Hutchins DriveP.O. Box 2681Grand Cayman KY1-1111Cayman Islands Conyers Trust Company (Cayman) LimitedCricket Square, Hutchins DriveP.O. Box 2681Grand Cayman KY1-1111Cayman Islands B R A N C H S H A R E R E G I S T R A R A N D T R A N S F E R O F F I C E I NHONG KONG 1617 Tricor Investor Services Limited17/F, Far East Finance Centre16 Harcourt RoadHong Kong • INDEPENDENT AUDITOR Deloitte Touche TohmatsuCertified Public AccountantsRegistered Public Interest Entity Auditors PRINCIPAL BANKS Bank of China (Hong Kong) LimitedHang Seng BankShanghai Commercial BankThe Bank of East Asia 1637 STOCK CODE1637 www.shunhingeng.com COMPANY’S WEBSITEwww.shunhingeng.com Management Discussion and Analysis SH Group (Holdings) Limited (the “Company”) and its subsidiaries (collectivelyreferred to as the “Group”) are principally engaged in providing electrical andmechanical engineering (“E&M engineering”) services in Hong Kong. We provideservices in relation to the supply, installation and maintenance of mechanicalventilation and air-conditioning system (“MVAC system”), and also provide servicesin relation to low voltage electrical system and other E&M systems, including fireservices system, plumbing and drainage system in both private and public sectors. BUSINESS REVIEW 33,00016,54016,460120400280 Our revenue decreased by approximately HK$165.4 million from approximatelyHK$330.0 million for the six months ended 30 September 2024 (the “LastPeriod”) to approximately HK$164.6 million for the six months ended 30September 2025 (the “Current Period”), while our gross profit increased byapproximately HK$4.0 million from a gross loss of approximately HK$1.2 millionfor the Last Period to a gross profit of approximately HK$2.8 million for theCurrent Period. Major projects awarded and major projects undertaken in theCurrent Period are outlined below. Projects awarded in the Current Period 531,6001930150 During the Current Period, we were awarded 5 projects (2024: 3) with anaggregate contract sum of approximately HK$16.0 million (2024: HK$109.3million), out of which 1 project with a contract sum of approximately HK$0.5million was related to electrical system installation. Management Discussion and Analysis Major projects undertaken in the Current Period 79.3%20.7%76.1%23.9% During the Current Period, the Group continued to focus its efforts on the supply,installation and maintenance of MVAC system and low voltage electrical system.Revenue contributed by projects relating to MVAC system and low voltageelectrical system accounted for approximately 79.3% and 20.7% respectively forthe Current Period (2024: 76.1% and 23.9%). Management Discussion and Analysis Management Discussion and Analysis Recent development and future prospects 11,900 Subsequent to the end of the Current Period and up to the date of this interimreport, we were awarded a project with a contract sum of approximatelyHK$19.0 million, which was related to MVAC system installation. The construction market in Hong Kong remains challenging but has demonstratedsteady improvement over the past year. The government continues to makeefforts to increase land and housing supply, alongside adjustments to demand-sidemanagement measures for residential properties, promoting a more stable marketenvironment. Despite persistent