佳明集团控股2025中期报告

CONTENTS目錄 Corporate Information公司資料2Management Discussion and Analysis管理層討論及分析4Condensed Consolidated Statement ofProfit or Loss簡明綜合損益表12Condensed Consolidated Statement of Profit orLoss and Other Comprehensive Income簡明綜合損益及其他全面收益表13Condensed Consolidated Statement ofFinancial Position簡明綜合財務狀況表14Condensed Consolidated Statement ofChanges in Equity簡明綜合權益變動表16Condensed Consolidated Cash Flow Statement簡明綜合現金流量表17Notes to the Condensed Consolidated FinancialStatements簡明綜合財務報表附註18Other Information其他資料40 CORPORATE INFORMATION公司資料 BOARD OF DIRECTORSExecutive Directors 董事會 陳孔明先生（主席）劉志華先生（行政總裁）曾嘉敏女士陳沛妍小姐 Mr. Chan Hung Ming(Chairman)Mr. Lau Chi Wah(Chief Executive Officer)Ms. Tsang Ka ManMs. Chan Pui Yin Apple 獨立非執行董事 Independent Non-Executive Directors 徐家華先生簡友和先生何超然先生李宗燿先生 Mr. Tsui Ka WahMr. Kan Yau WoMr. Ho Chiu Yin IvanMr. Lee Chung Yiu Johnny 董事委員會審核委員會 何超然先生（主席）徐家華先生簡友和先生李宗燿先生 COMMITTEES OF THE BOARDAudit Committee Mr. Ho Chiu Yin Ivan(Chairperson)Mr. Tsui Ka WahMr. Kan Yau WoMr. Lee Chung Yiu Johnny 薪酬委員會徐家華先生（主席）簡友和先生何超然先生李宗燿先生 Remuneration Committee Mr. Tsui Ka Wah(Chairperson)Mr. Kan Yau WoMr. Ho Chiu Yin IvanMr. Lee Chung Yiu Johnny 提名委員會簡友和先生（主席）徐家華先生何超然先生李宗燿先生陳沛妍小姐 Nomination Committee Mr. Kan Yau Wo(Chairperson)Mr. Tsui Ka WahMr. Ho Chiu Yin IvanMr. Lee Chung Yiu JohnnyMs. Chan Pui Yin Apple 授權代表陳孔明先生劉志華先生 AUTHORISED REPRESENTATIVESMr. Chan Hung MingMr. Lau Chi Wah 公司秘書梁偉泉先生，HKICPA, FCCA, ACG, HKACG COMPANY SECRETARYMr. Leung Wai Chuen,HKICPA, FCCA, ACG, HKACG 註冊辦事處 Cricket Square, Hutchins DriveP.O. Box 2681, Grand Cayman KY1-1111Cayman Islands REGISTERED OFFICECricket Square, Hutchins DriveP.O. Box 2681, Grand Cayman KY1-1111Cayman Islands CORPORATE INFORMATION(Continued)公司資料（續） 香港總部及主要營業地點 HEADQUARTER AND PRINCIPAL PLACE OF BUSINESSIN HONG KONG 香港九龍尖沙咀漆咸道南39號鐵路大廈22樓 22/F, Railway Plaza, No. 39 Chatham Road SouthTsim Sha Tsui, Kowloon, Hong Kong 主要股份過戶登記處 PRINCIPAL SHARE REGISTRAR AND TRANSFER OFFICE Conyers Trust Company (Cayman) LimitedCricket Square, Hutchins DriveP.O. Box 2681, Grand Cayman KY1-1111Cayman Islands Conyers Trust Company (Cayman) LimitedCricket Square, Hutchins DriveP.O. Box 2681, Grand Cayman KY1-1111Cayman Islands 股份過戶登記處香港分處 BRANCH SHARE REGISTRAR AND TRANSFER OFFICEIN HONG KONG 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 Road, Hong Kong 香港法律顧問德恒律師事務所（香港）有限法律責任合夥 HONG KONG LEGAL ADVISERDeHeng Law Offices (Hong Kong) LLP 核數師香港立信德豪會計師事務所有限公司 AUDITORBDO Limited 主要往來銀行大新銀行有限公司大華銀行香港分行 PRINCIPAL BANKERSDah Sing Bank, LimitedUnited Overseas Bank Limited, Hong Kong Office 股份代號1271 STOCK CODE1271 公司網址www.grandming.com.hk COMPANY WEBSITEwww.grandming.com.hk MANAGEMENT DISCUSSION AND ANALYSIS管理層討論及分析 佳明集團控股有限公司（「本公司」）董事（「董事」）會（「董事會」）欣然提呈本公司及其附屬公司（統稱「本集團」）截至二零二五年九月三十日止六個月（「2025/26上半年」）的中期業績。 The board (the “Board”) of directors (the “Directors”) of Grand MingGroup Holdings Limited (the “Company”) is delighted to present theinterim results of the Company and its subsidiaries (collectively the“Group”) for the six months ended 30 September 2025 (“FH 2025/26”). BUSINESS REVIEWProperty Development – Hong Kong 業務回顧物業發展－香港 「北映薈」（佔100%權益） Nexus Grand(100% owned) 此地盤位於新界粉嶺聯發街1號，正發展為一幢17層高的住宅及商業大樓及兩層地下停車場。項目提供90個住宅單位及商舖，總樓面面積合計約36,000平方呎。上蓋工程及室內裝修工程已經完成。在報告期末後，住宅單位的預售已經展開，市場反應熱烈，約95%之住宅單位（就數目而言）已售出，並預期於二零二六年第一季度交付予買家。 This site, situated at No. 1 Luen Fat Street, Fanling, the New Territories,is being developed into a 17-storey residential-cum-commercial towerwith a two-level underground car park. It provides 90 residential unitswith commercial shops covering a total gross floor area is approximately36,000 square feet. Superstructure works and internal fitting-out workshave been completed. Pre-sales of the residential units has commencedand with a strong market response, around 95% of the residential units(in terms of units) were sold subsequent to FH 2025/26. Hand-over tobuyers is expected to take place in the first quarter of 2026. 「明雋」（佔100%權益） The Grands(100% owned) 此住宅及商業項目位於九龍土瓜灣炮仗街45號，鄰近土瓜灣港鐵站，提供76個住宅單位，地下及一 樓 設 有 商 舖，總 樓 面 面 積 合 計 約31,000平 方呎。項目於二零二三年八月竣工。二零二三年六月開始預售，市場反應踴躍，全部住宅單位均已售出。回顧期內約22%之住宅單位（就數目而言）已交付予買家，相關收益於2025/26上半年確認。 This residential-cum-commercial project is located at No. 45 Pau ChungStreet in To Kwa Wan, Kowloon in close proximity to MTR To Kwa Wanstation. It provides 76 residential units with commercial shops on theground and first floor covering a total gross floor area of approximately31,000 square feet. The development of this project was completedin August 2023. Pre-sales commenced in June 2023 and it was wellreceived by the market with all the residential units being sold. Duringthe period under review, around 22% of the residential units (in terms ofunits) were handed over to buyers, with the related revenue recognisedin FH 2025/26. 「明翹滙」（佔100%權益） The Grand Marine(100% owned) 此住宅項目位於新界青衣細山路18號，提供776個住宅單位，總樓面面積約400,000平方呎。項目於二零二二年三月竣工，並於二零一九年底開始預售。項目備受