顺兴集团控股2025-26年报

      CONTENTS 2Corporate Information4Chairman’s Statement7Management Discussion and Analysis14Corporate Governance Report37Biographical Details of Directors and Senior Management44Directors’ Report57Independent Auditor’s Report64Consolidated Statement of Profit or Loss and Other Comprehensive Income65Consolidated Statement of Financial Position67Consolidated Statement of Changes in Equity68Consolidated Statement of Cash Flows70Notes to the Consolidated Financial Statements131Summary of Financial Information Corporate Information BOARD OF DIRECTORS Executive DirectorsMr. Yu Cheung Choy(Chairman)Mr. Lau Man Ching(Chief Executive Officer)Mr. Yu Ho Chi Non-executive DirectorMs. Yu Tsz Wai Independent Non-executive Directors Mr. Lam Yim NamMr. Lee Wing KeeDr. Law Man Wah AUDIT COMMITTEE Dr. Law Man Wah(Chairman)Mr. Lam Yim NamMr. Lee Wing Kee REMUNERATION COMMITTEE Mr. Lam Yim Nam(Chairman)Mr. Lee Wing KeeDr. Law Man Wah NOMINATION COMMITTEE Mr. Lee Wing Kee(Chairman)Mr. Lam Yim NamDr. Law Man WahMs. Yu Tsz Wai FCG, HKFCG COMPANY SECRETARYMr. Tse Kam FaiFCG, HKFCG AUTHORISED REPRESENTATIVESMr. Yu Cheung ChoyMr. Lau Man Ching REGISTERED OFFICE Cricket Square, Hutchins DriveP.O. Box 2681Grand Cayman KY1-1111Cayman Islands Cricket Square, Hutchins DriveP.O. Box 2681Grand Cayman KY1-1111Cayman Islands Corporate Information HEAD OFFICE AND PRINCIPAL PLACE OF BUSINESS IN HONG KONG 8336603-606 Units 603-606, 6/F, Tower ICheung Sha Wan Plaza833 Cheung Sha Wan RoadKowloonHong Kong PRINCIPAL SHARE REGISTRAR AND TRANSFER OFFICE IN THECAYMAN ISLANDS Conyers Trust Company (Cayman) LimitedCricket Square, Hutchins DriveP.O. Box 2681Grand Cayman KY1-1111Cayman Islands Conyers Trust Company (Cayman) LimitedCricket Square, Hutchins DriveP.O. Box 2681Grand Cayman KY1-1111Cayman Islands BRANCH SHARE REGISTRAR AND TRANSFER OFFICE IN HONGKONG 1617 Tricor Investor Services Limited17/F, Far East Finance Centre16 Harcourt RoadHong Kong INDEPENDENT AUDITOR •8835 Deloitte Touche TohmatsuCertified Public AccountantsRegistered Public Interest Entity Auditors35/F., One Pacific Place88 Queensway, Hong Kong PRINCIPAL BANKS Bank of China (Hong Kong) LimitedHang Seng BankShanghai Commercial BankThe Bank of East Asia 1637 STOCK CODE1637 www.shunhingeng.com COMPANY’S WEBSITEwww.shunhingeng.com Chairman’s Statement On behalf of the board (the “Board”) of directors (the “Director(s)”) of SHGroup (Holdings) Limited (the “Company”), I present the annual report of theCompany and its subsidiaries (collectively as the “Group”) for the year ended 31March 2026 (the “Year” or “FY2026”). The Group is principally engaged in providing electrical and mechanicalengineering (“E&M engineering”) services in Hong Kong. We focus our effortson the supply, installation and maintenance of mechanical ventilation andair-conditioning system (“MVAC system”) and also provide services in relation tolow voltage electrical system and other E&M systems, including but not limitedto fire services system, plumbing and drainage system, in both private and publicsectors. RESULTS 22,04036.2%685038,81085.4%14.6% During the Year, the Group recorded a decrease in revenue by approximatelyHK$220.4 million, or 36.2%, from approximately HK$608.5 million for the yearended 31 March 2025 (“Last Year” or “FY2025”) to approximately HK$388.1million for the Year. The revenue generated by projects of MVAC systemcontributed 85.4% of total revenue of the Group whilst revenue generated byprojects of low voltage electrical system contributed 14.6% of total revenue ofthe Group. 600540 The Group recorded a profit for the Year of approximately HK$6.0 million (2025:HK$5.4 million). DIVIDEND 5.02,000 During the Year, the Board declared a special interim dividend of HK5.0 cents pershare of the Company, amounting to HK$20.0 million in total. The Board did notrecommend any final dividend for the Year (2025: Nil). BUSINESS OVERVIEW MVAC system 9521,50011,990 During the Year, the Group was awarded 9 projects (2025: 5) in relation toMVAC system installation with an aggregate contract sum of approximatelyHK$215.0 million (2025: HK$119.9 million). The awarded projects are notlimited to residential projects but also involving a MVAC system maintenance andreplacement project. The new projects, together with the continual progress ofprojects awarded in previous years, would provide the Group with stable revenueand earnings in the coming years. Chairman’s Statement Low voltage electrical system 236012,12014.6%26.6% During the Year, the Group was awarded 2 projects (2025: 3) in relation toelectrical system installation with an aggregate contract sum of approximatelyHK$0.6 million (2025: HK$121.2 million). The revenue contributed from projectsof low voltage electrical system to the total Group’s revenue was approximately14.6% (2025: 26.6%). This is consistent with the business plan of the Group tomaintain a stable