建发物业管理集团有限公司2025年年度报告

CONTENTS目錄 2公司資料CORPORATE INFORMATION 5主席報告CHAIRMAN’S STATEMENT 16管理層討論與分析MANAGEMENT DISCUSSION AND ANALYSIS 41董事及高級管理層的履歷詳情BIOGRAPHICAL DETAILS OF DIRECTORS AND SENIOR MANAGEMENT 122環境、社會及管治報告ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT 263獨立核數師報告INDEPENDENT AUDITOR’S REPORT 271綜合財務狀況表CONSOLIDATED STATEMENT OF FINANCIAL POSITION 273綜合權益變動表CONSOLIDATED STATEMENT OF CHANGES IN EQUITY 275綜合現金流量表CONSOLIDATED STATEMENT OF CASH FLOWS 277綜合財務報表附註NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 公司資料 CORPORATE INFORMATION 董事會 BOARD OF DIRECTORS 執行董事 Executive Directors 喬海俠女士（主席）（於二零二五年三月二十六日獲委任為主席）黃黨輝先生（行政總裁）（於二零二五年三月二十六日獲委任為行政總裁） Ms. Qiao Haixia(Chairperson) (appointed as Chairperson on26 March 2025)Mr. Huang Danghui(Chief Executive Officer) (appointed as ChiefExecutive Officer on 26 March 2025) 非執行董事 Non-executive Directors 林偉國先生田美坦先生（於二零二六年三月二十五日獲委任）許伊旋先生 Mr. Lin WeiguoMr. Tian Meitan(appointed on 25 March 2026) Mr. Xu Yixuan 獨立非執行董事 Independent Non-executive Directors 李卓然先生李國泰先生胡一威先生 Mr. Lee Cheuk Yin DannisMr. Li Kwok Tai JamesMr. Wu Yat Wai 審核委員會 AUDIT COMMITTEE 李卓然先生（委員會主席）李國泰先生胡一威先生 Mr. Lee Cheuk Yin Dannis(Committee Chairman)Mr. Li Kwok Tai JamesMr. Wu Yat Wai 薪酬委員會 REMUNERATION COMMITTEE 胡一威先生（委員會主席）李卓然先生李國泰先生 Mr. Wu Yat Wai(Committee Chairman)Mr. Lee Cheuk Yin DannisMr. Li Kwok Tai James 提名委員會 NOMINATION COMMITTEE 喬海俠女士（委員會主席）李卓然先生李國泰先生胡一威先生 Ms. Qiao Haixia(Committee Chairperson)Mr. Lee Cheuk Yin DannisMr. Li Kwok Tai JamesMr. Wu Yat Wai 公司秘書游子麟先生 COMPANY SECRETARY Mr. Yau Tsz Lun 授權代表 AUTHORISED REPRESENTATIVES 喬海俠女士游子麟先生 Ms. Qiao HaixiaMr. Yau Tsz Lun 註冊辦事處 REGISTERED OFFICE Vistra (BVI) LimitedVistra Corporate Services CentreWickhams Cay IIRoad TownTortolaBritish Virgin Islands（「BVI」）VG 1110 Vistra (BVI) LimitedVistra Corporate Services CentreWickhams Cay IIRoad TownTortolaBritish Virgin Islands（“BVI”) VG 1110 香港主要營業地點 PRINCIPAL PLACE OF BUSINESS INHONG KONG 香港灣仔皇后大道東213號胡忠大廈35樓3517室 Room 3517, 35/FWu Chung House213 Queen’s Road EastWan ChaiHong Kong 總部及中華人民共和國（「中國」）主要營業地點 HEADQUARTERS AND REGISTEREDOFFICE IN THE PEOPLE’S REPUBLICOF CHINA (“PRC”) 中國廈門環島東路1699號建發國際大廈7樓703室 Unit 703, 7th FloorC&D International BuildingNo.1699 Huandao East RoadXiamen, PRC 英 屬 處 女 群 島 主 要 股 份 過 戶登記處 PRINCIPAL SHARE REGISTRAR ANDTRANSFER OFFICE IN THE BVI Vistra (BVI) LimitedVistra Corporate Services CentreWickhams Cay IIRoad TownTortolaBVI VG 1110 Vistra (BVI) LimitedVistra Corporate Services CentreWickhams Cay IIRoad TownTortolaBVI VG 1110 公司資料CORPORATE INFORMATION 香港股份過戶登記分處 HONG KONG BRANCH SHAREREGISTRAR AND TRANSFER OFFICE 卓佳證券登記有限公司香港夏慤道16號遠東金融中心17樓 Tricor Investor Services Limited17/F, Far East Finance Centre16 Harcourt RoadHong Kong 核數師 AUDITOR 致同（香港）會計師事務所有限公司執業會計師及註冊公眾利益實體核數師 Grant Thornton Hong Kong LimitedCertified Public Accountants and Registered Public Interest Entity Auditor 關於香港法律的法律顧問 LEGAL ADVISER AS TO HONG KONGLAWS 金杜律師事務所 King & Wood 主要往來銀行中國銀行 PRINCIPAL BANKERBank of China 公司網址www.cndservice.com（其內容不構成本年報的一部分） COMPANY’S WEBSITE www.cndservice.com(the contents of which do not form part of this annual report) 股份代號2156 STOCK CODE 2156 各位股東： Dear Shareholders, 本人欣然提呈建發物業管理集團有限公司（「建發物業集團」或「本集團」，連同其附屬公司統稱「本集團」）截至二零二五年十二月三十一日止年度（「本年度」）之報告： I am pleased to present the annual report of C&D PropertyManagement Group Co., Ltd (“C&D Property Group”or the“Group”, and together with its subsidiaries, the“Group”) for theyear ended 31 December 2025 (the“Year”): 一、經濟環境形勢回顧 I.ANALYSIS ON ECONOMICLANDSCAPE 回顧二零二五年，物業行業正式邁入存量競爭的深度調整期，行業發展 邏 輯 從 規 模 擴 張 轉 向 品 質 與 效益雙優。行業整體也承受著物業費降價的市場壓力，業主對物業服務質價相符的核心要求不斷提高，倒逼 物 業 公 司 持 續 提 升 服 務 專 業 性與價值匹配度。 Looking back at 2025, the property management industryhas formally entered a period of profound adjustmentamidst competition within the existing market. The industry’sdevelopmental logic has shifted from scale expansion tothe dual optimisation of quality and efficiency. The sectoras a whole was also under market pressure to reduceproperty management fees. As property owners increasinglydemanded property management companies to deliverproperty services commensurate with the price, thesecompanies were compelled to continuously enhance theirprofessional expertise and ensure their services align with thevalue they provide. 在此行業背景下，AI機器人與智慧化技術的逐步成熟與商業化應用，為 物 業 行 業 發 展 帶 來 全 新 轉 變 與利好。人工智能、物聯網等技術與物業場景的深度融合，推動各類機器 人 設 備 的 落 地 應 用 不 斷 提 速，有 效 實 現 降 本 增 效 與 服 務 標 準 化升級，成為物企提升核心競爭力的重要抓手。對於物企而言，唯有堅守服務本源，深度融合智慧物業理念，以科技賦能服務升級，才能在行業競爭中站穩腳跟，實現高質量可持續發展。 Against this industry backdrop, the gradual maturity andcommercial application of AI robots and smart technologieshave brought new transformations and benefits to thedevelopment of the property management industry. Thedeep integration of technologies such as artificial intelligenceand the Internet of Things with property scenarios hasaccelerated the deployment and application of variousrobotic equipment, which has effectively achieved costreduction, efficiency e