新世纪集团2025 中期报告

目錄Contents Corporate Information2公司資料Management Discussion and Analysis4管理層討論與分析Corporate Governance and Other Information19企業管治及其他資料Independent Review Report25獨立審閱報告Interim Condensed Consolidated Statement of Profit or Loss27中期簡明綜合損益表Interim Condensed Consolidated Statement of Comprehensive Income28中期簡明綜合全面收益表Interim Condensed Consolidated Statement of Financial Position29中期簡明綜合財務狀況表Interim Condensed Consolidated Statement of Changes in Equity31中期簡明綜合權益變動表Interim Condensed Consolidated Statement of Cash Flows33中期簡明綜合現金流量表Notes to Interim Condensed Consolidated Financial Statements35中期簡明綜合財務報表附註 New Centur y Group Hong Kong Limited．新 世 紀 集 團 香 港 有 限 公 司Interim Report 2025中期報告 CORPORATE INFORMATION公司資料 董事會 BOARD OF DIRECTORSExecutive Directors 執行董事 黃偉傑先生（主席）蕭潤群女士（副主席）黃琇蘭女士（營運總裁）黃莉蓮女士陳格緻女士余偉文先生黃詩婷女士 Mr. Ng Wee Keat(Chairman)Ms. Sio Ion Kuan(Deputy Chairman)Ms. Ng Siew Lang, Linda(Chief Operating Officer)Ms. Lilian NgMs. Chen Ka CheeMr. Yu Wai ManMs. Huang Si Teng 獨立非執行董事 Independent Non-executive Directors Mr. Cheung Chun KwokMr. Kwan Kai Kin, KennethMr. Ho Yau MingMr. Wong Steve Cheuk Hung 張鎮國先生關啟健先生何友明先生黃卓雄先生 審核委員會 AUDIT COMMITTEE Mr. Cheung Chun Kwok(Chairman)Mr. Kwan Kai Kin, KennethMr. Ho Yau MingMr. Wong Steve Cheuk Hung 張鎮國先生（主席）關啟健先生何友明先生黃卓雄先生 薪酬委員會 REMUNERATION COMMITTEE 張鎮國先生（主席）關啟健先生何友明先生黃卓雄先生黃偉傑先生陳格緻女士 Mr. Cheung Chun Kwok(Chairman)Mr. Kwan Kai Kin, KennethMr. Ho Yau MingMr. Wong Steve Cheuk HungMr. Ng Wee KeatMs. Chen Ka Chee 提名委員會 NOMINATION COMMITTEE 黃偉傑先生（主席）陳格緻女士張鎮國先生關啟健先生何友明先生黃卓雄先生 Mr. Ng Wee Keat(Chairman)Ms. Chen Ka CheeMr. Cheung Chun KwokMr. Kwan Kai Kin, KennethMr. Ho Yau MingMr. Wong Steve Cheuk Hung 環境、社會及管治委員會（於二零二五年九月十五日成立） ENVIRONMENTAL, SOCIAL AND GOVERNANCECOMMITTEE (ESTABLISHED ON 15 SEPTEMBER 2025) Mr. Ng Wee Keat(Chairman)(appointed on 15 September 2025)Mr. Yu Wai Man(appointed on 15 September 2025)Mr. Cheung Chun Kwok(appointed on 15 September 2025) 黃偉傑先生（主席）（於二零二五年九月十五日獲委任）余偉文先生（於二零二五年九月十五日獲委任）張鎮國先生（於二零二五年九月十五日獲委任） 公司秘書吳雪儀女士 COMPANY SECRETARYMs. Ng Suet Yi 註冊辦事處 REGISTERED OFFICE Clarendon House2 Church StreetHamilton HM 11Bermuda Clarendon House2 Church StreetHamilton HM 11Bermuda 總辦事處及主要營業地點 HEAD OFFICE AND PRINCIPAL PLACE OF BUSINESS 香港干諾道中168-200號信德中心西翼38樓3808室 Unit 3808, 38th FloorWest Tower, Shun Tak Centre168-200 Connaught Road CentralHong Kong 主要往來銀行 PRINCIPAL BANKERS Standard Chartered Bank (Hong Kong) LimitedDBS Bank (Hong Kong) LimitedHang Seng Bank LimitedThe Bank of East Asia, Limited 渣打銀行（香港）有限公司星展銀行（香港）有限公司恒生銀行有限公司東亞銀行有限公司 香港法律顧問陳馮吳律師事務所 HONG KONG LEGAL ADVISERCFN Lawyers 核數師安永會計師事務所執業會計師註冊公眾利益實體核數師 AUDITOR Ernst & YoungCertified Public AccountantsRegistered Public Interest Entity Auditor 主要股份過戶登記處 PRINCIPAL SHARE REGISTRAR ANDTRANSFER OFFICE Conyers Corporate Services (Bermuda) LimitedClarendon House2 Church StreetHamilton HM 11Bermuda Conyers Corporate Services (Bermuda) LimitedClarendon House2 Church StreetHamilton HM 11Bermuda 香港股份過戶登記分處 HONG KONG BRANCH SHARE REGISTRAR ANDTRANSFER 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 股份代號234 STOCK CODE234 網址www.ncgrp.com.hk MANAGEMENT DISCUSSION AND ANALYSIS管理層討論與分析 Duringthe six months ended 30 September 2025(the“Period”),New Century Group Hong Kong Limited(the“Company”) and its subsidiaries (the “Group”) continuedto principally engage in the businesses of money lending,property investment and securities trading. 截至二零二五年九月三十日止六個月（「本期間」），新世紀集團香港有限公司（「本公司」）及其附屬公司（「本集團」）繼續主要從事放債、物業投資及證券買賣業務。 隨 著 企 業 清 盤 數 目 上 升、金 融 市 場 貸 款拖欠率攀升、辦公室空置率高企、租金下跌、物業估值大幅下調，以及若干物業發展商面臨市場流動性及再融資選擇受限等情況，香港整體經營環境持續面臨挑戰。此等因素加劇了信貸風險，在經濟持續不明朗的情況下對金融業構成壓力。為應對此等因素，本集團審慎收緊放債業務的信貸政策，透過降低貸款與估值比率及加強借款人評估，以在市場波動下維護組合質素及管控風險。因此，本集團貸款組合大幅收縮，促使本集團將剩餘營運資金轉作定期存款。 Withrising corporate insolvencies,increased loan defaultratesin the financial market,high office vacancy rates,falling rents, significant declines in property valuations aswell as restricted market liquidity and refinancing optionsforcertain property developers,the overall operatinge n v i r o n m e n ti n H o n g K o n g r e m a i n e d c h a l l e n g i n g .Thesefactors heightened credit risks,contributing tofinancialsector pressures throughout ongoing economicuncertainties. In response, the Group prudently tightenedcreditpolicies within its money lending business byloweringloan-to-value ratios and enhancing borrowerassessments to protect portfolio quality and manage riskamid market volatility. As a result, this led to a significantshrinkageof the Group’s loan portfolio,prompting theGroup to place surplus working capital into time deposits. Despite some recovery noted in the retail market duringthe Period, overall consumption in Hong Kong remainedrelativelysubdued.This reflects a persistent shift inconsumerspending patterns,with significant growth inonline shopping and continued expenditure migration to theGreater Bay Area. These trends constrained foot tra