普汇中金国际2026 年报

(Incorporated in Bermuda with limited liabilityHKSE Stock Code0997 2Corporate Information公司資料4Chairman’s Statement主席報告7Financial Highlights財務摘要8Financial Summary財務概要9Management Discussion and Analysis管理層討論及分析43Directors and Senior Management董事及高級管理人員48Corporate Governance Report企業管治報告81Directors’ Report董事會報告 94Independent Auditors’ Report獨立核數師報告103Consolidated Statement of Profit or Loss and Other Comprehensive Income綜合損益及其他全面收益表106Consolidated Statement of Financial Position綜合財務狀況表108Consolidated Statement of Changes in Equity綜合權益變動表111Consolidated Statement of Cash Flows綜合現金流量表115Notes to the Consolidated Financial Statements綜合財務報表附註344Group Properties集團物業 Corporate Information公 司 資 料 EXECUTIVE DIRECTORS 執行董事 李偉斌先生 ，主席兼董事總經理蕭偉業先生 Mr. Li Weibin,Chairman and Managing DirectorMr. Siu Wai Yip NON-EXECUTIVE DIRECTORS 非執行董事 林永耀先生（於二零二五年九月二十五日辭任）郭志立先生（於二零二五年九月二十五日獲委任） Mr. Lam Wing Yiu(resigned on 25 September 2025)Mr. Kwok Chi Lap(appointed on 25 September 2025) INDEPENDENT NON-EXECUTIVEDIRECTORS 獨立非執行董事 Dr. Ho Chung Tai, RaymondMs. Lai Ka Fung, MayMs. Chan Sim Ling, Irene 何鍾泰博士黎家鳳女士陳嬋玲女士 COMPANY SECRETARYMs. Lau Wai Har 公司秘書劉慧霞女士 REGISTERED OFFICE 註冊辦事處 Clarendon House2 Church StreetHamilton HM 11Bermuda Clarendon House2 Church StreetHamilton HM 11Bermuda HEAD OFFICE AND PRINCIPAL PLACE OFBUSINESS IN HONG KONG 總辦事處及香港主要營業地點 Suite 1203, 12/F., Standard Chartered Bank Building4-4A Des Voeux Road CentralCentral, Hong Kong 香港中環德輔道中4-4A號渣打銀行大廈12樓1203室 Corporate Information公 司 資 料 PRINCIPAL BANKERS 主要往來銀行 香港上海滙豐銀行有限公司星展銀行（香港）有限公司中國工商銀行股份有限公司中國工商銀行（亞洲）有限公司西安銀行股份有限公司寧夏銀行股份有限公司長安銀行股份有限公司陝西秦農農村商業銀行股份有限公司 The Hongkong and Shanghai Banking Corporation LimitedDBS Bank (Hong Kong) LimitedIndustrial and Commercial Bank of China LimitedIndustrial and Commercial Bank of China (Asia) LimitedBank of Xi’an Company LimitedBank of Ningxia Company LimitedBank of Chang’an Company LimitedShaanxi Qinnong Rural Commercial Bank Company Limited PRINCIPAL SHARE REGISTRAR ANDTRANSFER OFFICE 主要股份過戶登記處 Ocorian Management (Bermuda) LimitedVictoria Place, 5th Floor31 Victoria StreetHamilton HM10Bermuda Ocorian Management (Bermuda) LimitedVictoria Place, 5th Floor31 Victoria StreetHamilton HM10Bermuda 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 AUDITOR 核數師 國衛會計師事務所有限公司執業會計師 HLB Hodgson Impey Cheng LimitedCertified Public Accountants LEGAL ADVISERS Michael Li & Co. 法律顧問 李智聰律師事務所 Chairman’s Statement主 席 報 告 Duringthe year ended 31 March 2026(the“Year”)under review, Chinlink International Holdings Limited (the“Company” or “Chinlink”) and its subsidiaries (collectivelyreferred to as the “Group”) operated against a challengingandfast-changing economic backdrop in the People’sRepublic of China (the “PRC” or “China”) and the HongKong Special Administrative Region (“Hong Kong”). Whilethe economy of the PRC is expected to remain broadlyresilient, supported by export performance and ongoingpolicyinitiatives,the operating environment continuedto be affected by geopolitical uncertainty, elevated tradetariffs,slower global growth and persistent weaknessin the property sector. Subdued consumer and businesssentiment, high youth unemployment and fiscal pressureon local governments also continued to weigh on privateconsumption,investment appetite and overall marketconfidence. 於回顧之截至二零二六年三月三十一日止年度（「本年度」），普匯中金國際控股有限公司（「本公司」或「普匯中金」）及其附屬公司（統稱「本集團」）在中華人民共和國（「中國」）及香港特別行政區（「香港」）面對充滿挑戰且瞬息萬變的經濟背景下營運 。儘管在出口表現及持續政策措施支持下 ，中國經濟預期將維持整體韌性 ，惟營商環境持續受到地緣政治不確定性 、貿易關稅高企 、全球增長放緩及房地產行業持續疲弱所影響 。消費及商業情緒低迷 、青年失業率高企 ，以及地方政府財政壓力 ，亦繼續制約私人消費 、投資意欲及整體市場信心 。 In Hong Kong, sentiment in the real estate market showedearly signs of stabilisation, supported by a stronger equitymarketand the continued development of the assetmanagement sector. However, the retail sector remainedunder pressure as consumer spending patterns continuedto evolve and operating costs stayed high. The city’s deeperintegration into the Greater Bay Area is expected to createnew long-term opportunities, although competition for talentand housing affordability remain important considerationsfor sustainable development. 在香港 ，受惠於股市表現轉強及資產管理行業持續發展 ，房地產市場的情緒初現回穩跡象 。然而 ，由於消費支出模式持續演變及營運成本持續高企 ，零售行業仍然受壓 。香港與大灣區的深度融合預期將創造新的長遠機遇 ，惟人才競爭及房屋可負擔能力仍是可持續發展的重要考慮因素 。 TheHong Kong’s forthcoming five-year plan,whichisexpected to align with the national Five-Year Planframework, may further strengthen Hong Kong’s role as aninternational centre for finance, technology, academic andscientific research, and cultural exchange. It is also expectedto support the city’s transition towards higher value-addedand innovation-driven development. 香港即將推出的五年計劃預期將與國家五年規劃框架對接 ，可進一步鞏固香港作為國際金融 、科技 、學術及科研以及文化交流中心的角色 。預期該計劃亦將支持香港向更高增值及創新主導型發展轉型 。 Chairman’s Statement主 席 報 告 本集團近年的表現持續受到中國內地艱難市況的重大影響 ，尤其是在我們業務集中所處的陝西省西安及漢中 。房地產市場仍未展現持續復甦 ，家居裝修消費需求亦持續疲弱 。預期該等因素將繼續影響大明宮建材家居•東三環店（「商業大樓」）