顺兴集团控股2023-24年报

     1637 2023-24 ANNUAL REPORT CONTENTS 2Corporate Information4Chairman’s Statement7Management Discussion and Analysis14Corporate Governance Report34Biographical Details of Directors and Senior Management42Directors’ Report55Independent Auditor’s Report63Consolidated Statement of Profit or Loss and Other Comprehensive Income64Consolidated Statement of Financial Position66Consolidated Statement of Changes in Equity67Consolidated Statement of Cash Flows69Notes to the Consolidated Financial Statements135Summary of Financial Information BOARD OF DIRECTORS Executive DirectorsMr. Yu Cheung Choy(Chairman)Mr. Lau Man Ching(Chief Executive Officer)Mr. Yu Ho Chi 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 Wah 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 愨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 STOCK CODE1637 1637 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 2024 (the “Year” or “FY2024”). 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 relationto low voltage electrical system and other E&M systems, including fire servicessystem, plumbing and drainage system, in both private and public sectors. RESULTS 7,8108.2%95,43087,62068.1%31.9% During the Year, the Group recorded a decrease in revenue by approximatelyHK$78.1 million, or 8.2%, from approximately HK$954.3 million for the yearended 31 March 2023 (“Last Year” or “FY2023”) to approximately HK$876.2million for the Year. The revenue generated by projects of MVAC systemcontributed 68.1% of total revenue of the Group whilst revenue generated byprojects of low voltage electrical system contributed 31.9% of total revenue ofthe Group. 1,5201,100 The Group recorded a loss for the Year of approximately HK$15.2 million (2023:HK$11.0 million). DIVIDEND The Board did not recommend any final dividend for the Year (2023: Nil). BUSINESS OVERVIEW MVAC system 5322,68018,550 During the Year, the Group was awarded 5 projects (2023: 3) in relation toMVAC system installation with an aggregate contract sum of approximatelyHK$226.8 million (2023: HK$185.5 million).The awarded projects are not limitedto 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 31.9%22.4% During the Year, the revenue contributed from projects of low voltage electricalsystem to the total Group’s revenue was approximately 31.9% (2023: 22.4%).Thisis consistent with the business plan of the Group to steadily increase the revenueand profit generated from projects of the low voltage electrical system. OUTLOOK The property market in Hong Kong has experienced its share of challengesin recent times, especially in the high interest rate and uncer tain economicenvironment. In this challenging environment for the industry, the tendering fornew private development projects is expected to reduce as property develope