龙丰集团二零二五╱二零二六年年报

Contents目錄 2Corporate Information公司資料5Financial Highlights財務摘要6Definitions釋義11Chairman’s Statement主席報告13Management Discussion and Analysis管理層討論與分析26Directors and Senior Management董事及高級管理層34Corporate Governance Report企業管治報告61Report of the Directors董事會報告82Independent Auditor’s Report獨立核數師報告89Consolidated Statement of Profit or Loss andOther Comprehensive Income綜合損益及其他全面收益表90Consolidated Statement of Financial Position綜合財務狀況表92Consolidated Statement of Changes in Equity綜合權益變動表93Consolidated Statement of Cash Flows綜合現金流量表95Notes to the Consolidated Financial Statements綜合財務報表附註212Financial Summary財務概要 CORPORATE INFORMATION公司資料 董事 DIRECTORS Executive Directors 謝少海先生（主席兼行政總裁）謝翠瑩女士 Mr. Tse Siu Hoi(Chairman and Chief Executive Officer)Ms. Tse Chui Ying Independent non-executives Directors 朱煥明先生尤向宇先生胡珮茵女士 Mr. Chu Woon MingMr. Yau Sheung YuMs. Woo Pui Yan Joyce 審核委員會 AUDIT COMMITTEE 胡珮茵女士（主席）朱煥明先生尤向宇先生 Ms. Woo Pui Yan Joyce(Chairlady)Mr. Chu Woon MingMr. Yau Sheung Yu 薪酬委員會 REMUNERATION COMMITTEE 尤向宇先生（主席）朱煥明先生胡珮茵女士謝少海先生 Mr. Yau Sheung Yu(Chairman)Mr. Chu Woon MingMs. Woo Pui Yan JoyceMr. Tse Siu Hoi 提名委員會 NOMINATION COMMITTEE 朱煥明先生（主席）尤向宇先生胡珮茵女士謝翠瑩女士 Mr. Chu Woon Ming(Chairman)Mr. Yau Sheung YuMs. Woo Pui Yan JoyceMs. Tse Chui Ying 公司秘書 COMPANY SECRETARY 林燕玲女士 Ms. Lam Yin Ling 授權代表 AUTHORISED REPRESENTATIVES 謝少海先生林燕玲女士 Mr. Tse Siu HoiMs. Lam Yin Ling 獨立核數師 INDEPENDENT AUDITOR 德勤•關黃陳方會計師行執業會計師及註冊公眾利益實體核數師香港金鐘道88號太古廣場一期35樓 Messrs. Deloitte Touche TohmatsuCertified Public Accountants and RegisteredPublic Interest Entity Auditor35/F, One Pacific Place88 QueenswayHong Kong 註冊辦事處 REGISTERED OFFICE Cricket SquareHutchins DriveP.O. Box 2681Grand CaymanKY1-1111Cayman Islands Cricket SquareHutchins DriveP.O. Box 2681Grand CaymanKY1-1111Cayman Islands 總部及香港主要營業地點 HEADQUARTERS AND PRINCIPAL PLACE OFBUSINESS IN HONG KONG 香港新界粉嶺業暢街23號龍豐集團中心5樓 5/F, Lung Fung Group Centre23 Yip Cheong StreetFanling, New TerritoriesHong Kong 股份過戶登記總處 PRINCIPAL SHARE REGISTRAR ANDTRANSFER OFFICE Conyers Trust Company (Cayman) LimitedCricket SquareHutchins DriveP.O. Box 2681Grand Cayman KY1-1111Cayman Islands Conyers Trust Company (Cayman) LimitedCricket SquareHutchins DriveP.O. Box 2681Grand Cayman KY1-1111Cayman Islands 香港股份過戶登記分處 HONG KONG BRANCH SHARE REGISTRAR 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 CORPORATE INFORMATION公司資料 主要往來銀行 PRINCIPAL BANKS 星展銀行（香港）有限公司香港皇后大道中99號中環中心11樓 DBS Bank (Hong Kong) Limited11th Floor, The Center99 Queen’s Road CentralHong Kong 中國銀行（香港）有限公司香港花園道1號中銀大廈14樓 Bank of China (Hong Kong) Limited14th Floor, Bank Of China TowerNo.1 Garden RoadHong Kong 恒生銀行有限公司香港德輔道中83號恒生銀行總行大廈 Hang Seng Bank LimitedHang Seng Bank Bldg.83 Des Voeux Road CentralHong Kong 香港上海滙豐銀行有限公司香港皇后大道中1號 The Hongkong and Shanghai Banking Corporation Limited1 Queen’s Road CentralHong Kong 創興銀行有限公司香港德輔道中24號創興銀行中心地下 Chong Hing Bank LimitedGround FloorChong Hing Bank Centre24 Des Voeux Road CentralHong Kong 上市資料 LISTING INFORMATION 上市地點：香港聯合交易所有限公司主板股份代號：2290買賣單位：500股股份 Place of Listing:The Main Board of The Stock Exchange ofHong Kong LimitedStock Code:2290Board Lot:500 Shares 公司網站 COMPANY WEBSITE https://www.lungfung.hk https://www.lungfung.hk FINANCIAL HIGHLIGHTS財務摘要 1.本 公 司 於2026年6月5日 在 聯 交 所 主 板 上 市。本公司已於招股章程中公佈自2023財政年度起至2025年11月30日 止 八 個 月 之 財 務 資 料，因此上表載列自2023財政年度起四個財政年度之財務摘要。 1.The Company was listed on the Main Board of the Stock Exchange on 5 June2026. The Company published financial information from FY2023 to the eightmonths ended 30 November 2025 in the Prospectus, and therefore the abovetable sets out the financial highlights for the four financial years since FY2023. 2.Core net profit (loss) is a non-HKFRS measure and is calculated as the profit(loss) for the year adjusted to exclude (i) decrease in fair value of investmentproperties; and (ii) listing expenses. 2.核心純利（虧損淨額）是一項非香港財務報告準則計量，其計算方式為年內溢利（虧損）經調整後，排除(i)投資物業公平值減少；及(ii)上市開支。 3.Pro-forma earnings (loss) per share and pro-forma core earnings (loss) pershare are non-HKFRS measures. Pro-forma earnings (loss) per share and pro-forma core earnings (loss) per share are calculated based on the profit (loss)for the year and the core net profit (loss), respectively, divided by the totalnumber of shares in issue upon the Global Offering, as if the Global Offeringhad been completed at the beginning of the year ended 31 March 2026. 3.備考每股盈利（虧損）及備考核心每股盈利（虧損）均屬非香港財務報告準則計量。備考每股盈利（虧損）及備考核心每股盈利（虧損）乃根據本年度溢利（虧損）及核心純利（虧損淨額），分別除以全球發售時已發行股份總數，猶如全球發售已於截至2026年3月31日止年度年初完成一般。 4.總資產回報率的計算方式為年度溢利除以總資產再乘以100%。 4.Return on total assets is calculated as the profit for the year divided by thetotal assets and multiplied by 100%. DEFINITIONS釋義 In this annual report, unless the context requires otherwise, the following expressions shall have the following respectivemeanings: 於本年報內，除文義另有所指外，下列詞彙具以下涵義： CHAIRMAN’S STATEMENT主席報告 各位股東： Dear Shareholders, 本人謹代表董事會，欣然呈報本集