滉达富控股中期报告 2025/2026

2025/2026Interim Report Contents目錄 Corporate Information公司資料2Management Discussion and Analysis管理層討論及分析4Other Information其他資料15Condensed Consolidated Financial Statements簡明綜合財務報表– Condensed Consolidated Statement of Comprehensive Income―簡明綜合全面收益表21– Condensed Consolidated Statement of Financial Position―簡明綜合財務狀況表22– Condensed Consolidated Statement of Changes In Equity―簡明綜合權益變動表24– Condensed Consolidated Statement of Cash Flows―簡明綜合現金流量表26– Notes to Condensed Consolidated Financial Statements―簡明綜合財務報表附註27 Corporate Information公司資料 董事會 BOARD OF DIRECTORS 執行董事 Executive Directors 朱允明先生（於2025年7月9日辭任）潘栢基先生（於2025年7月9日獲調任為主席）侯耀波先生鄧婉貞女士 Mr. Chu, Raymond(resigned on 9 July 2025)Mr. Poon Pak Ki, Eric(redesignated as Chairman on 9 July 2025)Mr. Hau Yiu PorMs. Tang Yuen Ching Irene 獨立非執行董事梁寶榮先生GBS, JP陳兆榮先生黃華安先生楊慧玲女士 Independent Non-executive Directors Mr. Leung Po Wing, Bowen JosephGBS, JPMr. Chan Siu Wing, RaymondMr. Wong Wah On, EdwardMs. Yeung Wai Ling 董事委員會審核委員會陳兆榮先生（主席）梁寶榮先生GBS, JP黃華安先生 COMMITTEES OF THE BOARD OF DIRECTORS Audit Committee Mr. Chan Siu Wing, Raymond(Chairman)Mr. Leung Po Wing, Bowen JosephGBS, JPMr. Wong Wah On, Edward 提名委員會梁寶榮先生GBS, JP（主席）陳兆榮先生黃華安先生朱允明先生（於2025年7月9日辭任）潘栢基先生 Nomination Committee Mr. Leung Po Wing, Bowen JosephGBS, JP(Chairman)Mr. Chan Siu Wing, RaymondMr. Wong Wah On, EdwardMr. Chu, Raymond(resigned on 9 July 2025)Mr. Poon Pak Ki, Eric 薪酬委員會 Remuneration Committee 梁寶榮先生GBS, JP（主席）陳兆榮先生黃華安先生朱允明先生（於2025年7月9日辭任）潘栢基先生 Mr. Leung Po Wing, Bowen JosephGBS, JP(Chairman)Mr. Chan Siu Wing, RaymondMr. Wong Wah On, EdwardMr. Chu, Raymond(resigned 9 July 2025)Mr. Poon Pak Ki, Eric 企業管治委員會陳兆榮先生（主席）潘栢基先生朱允明先生（於2025年7月9日辭任）鄧婉貞女士 Corporate Governance Committee Mr. Chan Siu Wing, Raymond(Chairman)Mr. Poon Pak Ki, EricMr. Chu, Raymond(resigned on 9 July 2025)Ms. Tang Yuen Ching Irene 公司秘書鄧婉貞女士 COMPANY SECRETARYMs. Tang Yuen Ching Irene 授權代表潘栢基先生鄧婉貞女士 AUTHORISED REPRESENTATIVES Mr. Poon Pak Ki, EricMs. Tang Yuen Ching Irene Corporate Information公司資料 核數師 AUDITOR 香港立信德豪會計師事務所有限公司執業會計師香港干諾道中111號永安中心25樓 BDO LimitedCertified Public Accountants25th Floor, Wing On Centre111 Connaught Road CentralHong Kong 註冊辦事處 REGISTERED OFFICE Cricket Square, Hutchins DriveP.O. Box 2681Grand Cayman KY1-1111Cayman Islands Cricket Square, Hutchins DriveP.O. Box 2681Grand Cayman KY1-1111Cayman Islands 香港主要營業地點 香港新界荃灣海盛路3號TML廣場19樓C室 PRINCIPAL PLACE OF BUSINESS IN HONG KONG Workshop C, 19/FTML Tower3 Hoi Shing Road Tsuen WanNew TerritoriesHong Kong 開曼群島股份過戶登記總處 PRINCIPAL SHARE REGISTRAR ANDTRANSFER OFFICE 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 香港股份過戶登記分處 HONG KONG BRANCH SHARE REGISTRARAND TRANSFER 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 主要往來銀行星展銀行（香港）有限公司恒生銀行有限公司中國工商銀行（亞洲）有限公司 PRINCIPAL BANKERS DBS Bank (Hong Kong) LimitedHang Seng Bank LimitedIndustrial and Commercial Bank of China (Asia) Limited 公司網站www.quali-smart.com.hk COMPANY’S WEBSITEwww.quali-smart.com.hk 股份代號1348 STOCK CODE1348 每手買賣單位2,000 BOARD LOT2,000 Management Discussion and Analysis管理層討論及分析 業務回顧 BUSINESS REVIEW 於本期間，本集團的核心業務仍為由全資附屬公司滉達實業有限公司經營的玩具生產分部（「玩具分部」）及由Crosby Asia Limited經 營（直 至2025年8月31日，其 後 由 本 公 司經營）的金融服務（「金融服務分部」）。 For the Current Period, our Group’s core business remained as themanufacture of toys operated under our wholly-owned subsidiary,Qualiman Industrial Co. Limited (the “Toys Division”) and theprovision of financial services operated under Crosby Asia Limited (the“Financial Services Division”) up to 31 August 2025 and under theCompany afterwards respectively. 玩具分部 The Toys Division 於本期間，由於全球貿易動態的重大變動帶來市場不確定性，玩具分部仍面臨複雜的形勢，訂單下滑。美國的高關稅亦持續減少直接出口，同時貿易緊張局勢導致供應鏈分裂。因此，玩具分部試圖擴大拉美、東歐、中東及東南亞等其他市場的機會，以進一步提升業務潛力。同時，我們亦發現，教育╱STEM玩具產品的需求呈上升趨勢，玩具分部可在拓展該等業務機會時評估進行適當商業合作的可能性。 During the Current Period, our Toys Division was still navigating on acomplex landscape marked by declining orders because of the marketuncertainty attributable by significant shifts in global trade dynamics.The high U.S. tariffs also continued to reduce direct exports as well asthe trade tensions caused supply chain fragmentation. Accordingly,the Toys Division attempted to diversify other markets opportunitiessuch as Latin America, Eastern Europe, Middle East and Southeast Asiafor further business potential. Meanwhile, it was also noted that thereis rising demand trend in products for educational/STEM toys andthe Toys Division may assess any potential in engaging appropriatebusiness collaboration in developing such business opportunities. 金融服務分部 The Financial Services Division 金融服務分部分為數個業務分類：1)機構業務–機構銷售、交易及研究；2)專注公司融資及承銷的資本市場；3)財富管理；及4)資產管理。 The Financial Services Division is divided into several businesssegments: 1) Institutional