时代环球集团：2025年度报告

CONTENTSFinancial Highlights財務摘要02Corporate Information公司資料04Chairman’s Statement主席報告書06Management Discussion and Analysis管理層討論及分析08Corporate Governance Report企業管治報告書14Environmental, Social and Governance Report環境、社會及管治報告34Directors董事94Report of the Directors董事會報告書99Independent Auditor’s Report獨立核數師報告107Consolidated Statement of Profit or Loss andOther Comprehensive Income綜合損益及其他全面收益表115Consolidated Statement of Financial Position綜合財務狀況表116Consolidated Statement of Changes in Equity綜合權益變動表118Consolidated Statement of Cash Flows綜合現金流量表120Notes to the Consolidated Financial Statements綜合財務報表附註122Five-year Financial Summary五年財務概要251 目錄 TIMES UNIVERSAL GROUP HOLDINGS LIMITED｜ANNUAL REPORT 2025 FINANCIAL HIGHLIGHTS財務摘要 For the year ended 31 December 2025截至二零二五年十二月三十一日止年度 Basic Loss per Share (including both continuing and discontinued operations)HK cents FINANCIAL HIGHLIGHTS財務摘要 For the year ended 31 December 2025截至二零二五年十二月三十一日止年度 TIMES UNIVERSAL GROUP HOLDINGS LIMITED｜ANNUAL REPORT 2025 CORPORATE INFORMATION公司資料 BOARD OF DIRECTORS Executive directors 蔡潤初先生（主席）陳健先生戴國強先生洪宏佳女士 Mr. Choi Yun Chor(Chairman)Mr. Chen JianMr. Tai Kwok Keung KennyMs. Hung Wang Kai Grace Independent non-executive directors 黎卓如女士黃向陽先生樂可慰先生 Ms. Lai Cheuk Yu CherrieMr. Huang XiangyangMr. Ngok Ho Wai AUDIT COMMITTEE 樂可慰先生黎卓如女士黃向陽先生 Mr. Ngok Ho WaiMs. Lai Cheuk Yu CherrieMr. Huang Xiangyang REMUNERATION COMMITTEE 黃向陽先生黎卓如女士樂可慰先生 Mr. Huang XiangyangMs. Lai Cheuk Yu CherrieMr. Ngok Ho Wai NOMINATION COMMITTEE 黎卓如女士黃向陽先生樂可慰先生 Ms. Lai Cheuk Yu CherrieMr. Huang XiangyangMr. Ngok Ho Wai COMPANY SECRETARY 林耀祖先生 Mr. Lam Yiu Cho CORPORATE INFORMATION公司資料 AUTHORISED REPRESENTATIVES 蔡潤初先生林耀祖先生 Mr. Choi Yun ChorMr. Lam Yiu Cho REGISTERED OFFICE AND PRINCIPAL PLACEOF BUSINESS 香港上環文咸東街78號華東商業大廈30樓3002室 Unit 3002, 30/F, Workington Tower,78 Bonham Strand East,Sheung Wan, Hong Kong AUDITORS 容誠（香港）會計師事務所有限公司執業會計師註冊公眾利益實體核數師 Rongcheng (Hong Kong) CPA LimitedCertified Public AccountantsRegistered Public Interest Entity Auditors SHARE REGISTRAR AND 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 STOCK CODE 香港聯合交易所有限公司：2310 The Stock Exchange of Hong Kong Limited: 2310 www.timesuniversal.com COMPANY WEBSITE www.timesuniversal.com TIMES UNIVERSAL GROUP HOLDINGS LIMITED｜ANNUAL REPORT 2025 CHAIRMAN’S STATEMENT主席報告書 YEAR UNDER REVIEW 時 代 環 球 集 團 控 股 有 限 公 司（「本 公 司」）及 其附屬公司（統稱「本集團」）在過去一年面對外圍市場環境的種種挑戰。鑒於經濟復甦步伐緩慢，致令本集團仍然錄得虧損。然而，在管理層 勤 奮 努 力 下，令 加 拿 大 經 營 一 間 度 假 酒 店（「酒店經營」）的業務穩定增長、在中華人民共和 國（「中 國」）進 行 物 業 管 理（「物 業 管 理」）取得新進展，以及為中國客戶管理廚房及管理優質食材供應（「餐飲管理」）等業務，加強本集團成 為 綜 合 物 業 相 關 服 務 供 應 商 及 投 資 者 的 信心。管理層將繼續爭取新項目，藉不同投資方法擴大業務組合特色。待旅館接待行業全面復甦後，本集團將繼續探索酒店經營、物業管理及餐飲管理的新機遇。 Times Universal Group Holdings Limited (the“Company”) andits subsidiaries (collectively referred to as the“Group”) faceda lot of challenges from the external market environment inthe past year. Resulted from the slow economic recovery, theGroup still recorded a loss. However, through the efforts of themanagements, the steady growth of the operation of a resort(the“Hotel Operation”) in Canada and new development ofproperties management (the“Properties Management”) in thePeople’s Republic of China (the“PRC”) and the management ofkitchen for, management of delivery quality ingredients to, PRCcustomers (the“Catering Management”) have strengthenedthe confidence of the Group to become an integrated property-related service provider and investor. Management will continueto pursue new projects and expand the feature through differentinvestment methods. Upon the full recovery of the hospitalityindustry, the Group will continue to explore new opportunitiesof Hotel Operation, Properties Management and CateringManagement. BUSINESS REVIEW 收益主要指酒店經營及物業管理，佔截至二零二五年十二月三十一日止年度（「二零二五財政年度」）本集團總收益分別約56.1%和36.2%。收益由截至二零二四年十二月三十一日止年度（「二 零 二 四 財 政 年 度」）約110,800,000港 元，增至二零二五財政年度約117,200,000港元，增幅約5.8%或6,400,000港元。有關增幅主要來 自 酒 店 經 營 及 物 業 管 理 收 益 增 加。於 二 零二五財政年度，本集團錄得淨虧損約1,400,000港元，而於二零二四財政年度則為約7,500,000港元。 Revenue represents mainly the revenue from Hotel Operationand Properties Management, which account for approximately56.1% and 36.2%, respectively, of total revenue of theGroup for the year ended 31 December 2025 (“FY2025”).Revenues increased by approximately 5.8% or HK$6.4 millionfrom approximately HK$110.8 million for the year ended 31December 2024 (“FY2024”) to approximately HK$117.2 millionfor FY2025. Such increase was mainly due to the increase inrevenue from the Hotel Operation and Properties Management.The net loss of the Group amounted to approximately HK$1.4million for FY2025, as compared to approximately HK$7.5million for FY2024. CHAIRMAN’S STATEMENT主席報告書 PROSPECTS 於二零二五財政年度，來自加拿大酒店經營的收 益 增 加 約8.8%，且 酒 店 經 營 的 入 住 率 維 持相 對 穩 定，約 為83.3%（二 零 二 四 財 政 年 度：83.9%），平均房價從二零二四財政年度約324加元提升到二零二五財政年度約395加元，增幅約為21.9%。與此同時，物業管理繼續擴展其 業 務，收 入 穩 步 增 長，年 增 量 約 為3.3%。隨著中國經濟復蘇，市場潛力不斷增加，為我們帶來各種商機。我們的管理層團隊將把