佳明集团控股2025/26年报

CONTENTS目錄 Corporate Information公司資料2Financial Highlights財務摘要4Five-Year Financial Summary五年財務概要5Chairman’s Statement主席報告6Management Discussion and Analysis管理層討論及分析11Report of the Directors董事會報告15Biographies of the Directors and Senior Management董事及高級管理層履歷34Corporate Governance Report企業管治報告38Independent Auditor’s Report獨立核數師報告53Consolidated Statement of Profit or Loss綜合損益表61Consolidated Statement of Profit or Loss and Other Comprehensive Income綜合損益及其他全面收益表62Consolidated Statement of Financial Position綜合財務狀況表63Consolidated Statement of Changes in Equity綜合權益變動表65Consolidated Cash Flow Statement綜合現金流量表66Notes to the Consolidated Financial Statements綜合財務報表附註68Particulars of Properties Held by the Group本集團所持有物業資料160 CORPORATE INFORMATION公司資料 BOARD OF DIRECTORSExecutive Directors 董事會 執行董事陳孔明先生（主席）劉志華先生（行政總裁）陳沛妍小姐 Mr. Chan Hung Ming(Chairman)Mr. Lau Chi Wah(Chief Executive Officer)Ms. Chan Pui Yin Apple 獨立非執行董事徐家華先生簡友和先生何超然先生李宗燿先生 Independent Non-Executive Directors Mr. Tsui Ka WahMr. Kan Yau WoMr. Ho Chiu Yin IvanMr. Lee Chung Yiu Johnny 董事委員會審核委員會 何超然先生（主席）徐家華先生簡友和先生李宗燿先生 COMMITTEES OF THE BOARDAudit Committee Mr. Ho Chiu Yin Ivan(Chairperson)Mr. Tsui Ka WahMr. Kan Yau WoMr. Lee Chung Yiu Johnny 薪酬委員會徐家華先生（主席）簡友和先生何超然先生李宗燿先生 Remuneration CommitteeMr. Tsui Ka Wah(Chairperson)Mr. Kan Yau WoMr. Ho Chiu Yin IvanMr. Lee Chung Yiu Johnny 提名委員會 簡友和先生（主席）徐家華先生何超然先生李宗燿先生陳沛妍小姐 Nomination Committee Mr. Kan Yau Wo(Chairperson)Mr. Tsui Ka WahMr. Ho Chiu Yin IvanMr. Lee Chung Yiu JohnnyMs. Chan Pui Yin Apple 授權代表陳孔明先生劉志華先生 AUTHORISED REPRESENTATIVESMr. Chan Hung MingMr. Lau Chi Wah 公司秘書梁偉泉先生，HKICPA, FCCA, ACG, HKACG COMPANY SECRETARYMr. Leung Wai Chuen,HKICPA, FCCA, ACG, HKACG 註冊辦事處 REGISTERED OFFICECricket Square, Hutchins DriveP.O. Box 2681, Grand Cayman KY1-1111Cayman Islands Cricket Square, Hutchins DriveP.O. Box 2681, Grand Cayman KY1-1111Cayman Islands CORPORATE INFORMATION(Continued)公司資料（續） 香港總部及主要營業地點 HEADQUARTERS AND PRINCIPAL PLACE OF BUSINESSIN HONG KONG 香港九龍尖沙咀漆咸道南39號鐵路大廈22樓 22/F, Railway Plaza, No. 39 Chatham Road SouthTsim Sha Tsui, Kowloon, Hong Kong 主要股份過戶登記處 PRINCIPAL SHARE REGISTRAR AND TRANSFER OFFICE Conyers Trust Company (Cayman) LimitedCricket Square, Hutchins DriveP.O. Box 2681, Grand Cayman KY1-1111Cayman Islands Conyers Trust Company (Cayman) LimitedCricket Square, Hutchins DriveP.O. Box 2681, Grand Cayman KY1-1111Cayman Islands 股份過戶登記處香港分處 BRANCH SHARE REGISTRAR AND TRANSFER OFFICEIN HONG KONG 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 Centre,16 Harcourt Road, Hong Kong 香港法律顧問德恒律師事務所（香港）有限法律責任合夥 HONG KONG LEGAL ADVISORDeHeng Law Offices (Hong Kong) LLP 核數師香港立信德豪會計師事務所有限公司 AUDITORBDO Limited 主要往來銀行大新銀行有限公司大華銀行香港分行 PRINCIPAL BANKERSDah Sing Bank, LimitedUnited Overseas Bank Limited, Hong Kong Office 股份代號1271 STOCK CODE1271 公司網址www.grandming.com.hk COMPANY WEBSITEwww.grandming.com.hk FINANCIAL HIGHLIGHTS財務摘要 FIVE-YEAR FINANCIAL SUMMARY五年財務概要 CHAIRMAN’S STATEMENT主席報告 Chan Hung Ming陳孔明Chairman主席 本人謹代表佳明集團控股有限公司（「本公司」）董事（「董事」）會（「董事會」）欣然提呈本公司及其附屬公司（統稱「本集團」）截至二零二六年三月三十一日止年度（「2025/26年度」）的年報。 On behalf of the board (the “Board”) of directors (the “Directors”) ofGrand Ming Group Holdings Limited (the “Company”), I am delightedto present the annual report of the Company and its subsidiaries(collectively the “Group”) for the year ended 31 March 2026 (“FY2025/26”). 業績 RESULTS For FY 2025/26, the Group recorded a net loss of HK$349.5 million,as compared to a net loss of HK$292.1 million for the year ended 31March 2025 (“FY 2024/25”). The increase was mainly attributable to (i)a substantial decrease in the area of residential properties delivered andexpiry of a data centre lease; and (ii) decrease in selling expenses as aresult of reduced revenue from sales of properties as aforesaid. 本 集 團 於2 0 2 5 / 2 6年 度 錄 得 淨 虧 損3 . 4 9 5億 港元，而 截 至 二 零 二 五 年 三 月 三 十 一 日 止 年 度（「2024/25年度」）則錄得淨虧損2.921億港元。淨虧損的升幅主要歸因(i)交付的住宅物業面積大幅減少以及一項數據中心租約屆滿；及(ii)上述物業銷售收益減少導致銷售開支減少。 DIVIDENDS 股息 2025/26年度並無派付任何股息。 No dividend was paid during FY 2025/26. Inview of challenging market conditions, the Board does notrecommend payment of a final dividend for FY 2025/26. 鑑於市況充滿挑戰，董事會不建議派付2025/26年度之末期股息。 CHAIRMAN’S STATEMENT(Continued)主席報告（續） 業務回顧 REVIEW OF OPERATION 物業發展－香港 Property Development – Hong Kong 「北映薈」（佔100%權益） Nexus Grand (100% owned) 此項目位於新界粉嶺聯發街1號，正發展為一幢17層高的住宅及商業大樓，並設有兩層地下停車場。該項目提供90個住宅單位，連同商業店舖，總樓面面積約36,000平方呎。項目發展已於二零二五年十二月竣工。於回顧年內，住宅單位開始預售，市場反應熱烈，所有住宅單位均已售出，且其中約99%（按單位數目計算）已交付予買家，相關收益已於2025/26年度確認。餘下已售出住宅單位亦於其後交付予買家。 This site, situated at No. 1 Luen Fat Street, Fanling, the New Territories,is being developed into a 17-storey residential-cum-commercial towerwith a two-level underground car park. It provides 90 residentialunits with commercial shops covering a total gross floor area ofapproximately 36,000 square feet. The development of this project wascompleted in December 2025. During the year under review, pre-salesof the