建溢集团年度报告 2023/2024

C O N T E N T S目 錄 CORPORATE INFORMATION公司資料 CHAIRMAN’S STATEMENT主席報告 BIOGRAPHICAL DETAILS OF THE DIRECTORS董事履歷詳情21 REPORT OF THE DIRECTORS董事會報告25 CORPORATE GOVERNANCE REPORT企業管治報告46 INDEPENDENT AUDITOR’S REPORT獨立核數師報告74 85 Consolidated statement of changes in equity綜合權益變動表89 Consolidated statement of cash flows綜合現金流量表90 Notes to financial statements財務報表附註92 FINANCIAL SUMMARY財務概要220 CORPORATE INFORMATION公司資料 BOARD OF DIRECTORS Executive Directors 鄭楚傑先生（主席兼行政總裁）廖達鸞先生鄭子濤先生鄭子衡先生 Mr. Cheng Chor Kit(Chairman and Chief Executive Officer)Mr. Liu Tat LuenMr. Cheng Tsz ToMr. Cheng Tsz Hang Non-executive DirectorDr. Fung Wah Cheong, Vincent* 馮華昌博士* Independent non-executive Directors Mr. Wong Chi WaiDr. Sun Kwai Yu, Vivian**Mr. Cheung Wang IpMr. Chan Yim Por Bonnie*** 黃𦏸維先生孫季如博士**張宏業先生陳炎波先生*** *馮華昌博士於二零二三年八月二十八日辭任非執行董事。**孫季如博士於二零二三年八月二十八日辭任獨立非執行董事。***陳炎波先生於二零二三年八月二十八日獲委任為獨立非執行董事。 *Dr. Fung Wah Cheong, Vincent resigned as a non-executiveDirector on 28 August 2023.**Dr. Sun Kwai Yu, Vivian resigned as an independent non-executive Director on 28 August 2023.***Mr. Chan Yim Por Bonnie appointed as an independentnon-executive Director on 28 August 2023. COMPANY SECRETARY 洪錦榮先生 Mr. Hung Kam Wing, Timmy HEAD OFFICE AND PRINCIPAL PLACEOF BUSINESS 7/F., Galaxy Factory Building25-27 Luk Hop StreetSan Po Kong, KowloonHong Kong 香港九龍新蒲崗六合街25-27號嘉時工廠大廈7樓 REGISTERED OFFICE Clarendon House2 Church StreetHamilton HM 11Bermuda Clarendon House2 Church StreetHamilton HM 11Bermuda CORPORATE INFORMATION公司資料 BERMUDA PRINCIPAL SHAREREGISTRAR AND TRANSFER OFFICE MUFG Fund Services (Bermuda) LimitedRosebank Centre11 Bermudiana RoadPembroke HM 08Bermuda MUFG Fund Services (Bermuda) LimitedRosebank Centre11 Bermudiana RoadPembroke HM 08Bermuda HONG KONG BRANCH SHAREREGISTRAR AND TRANSFER OFFICE 卓佳登捷時有限公司香港夏愨道16號遠東金融中心17樓 Tricor Tengis Limited17/F., Far East Finance Centre,16 Harcourt Road,Hong Kong AUDITOR 羅兵咸永道會計師事務所執業會計師及註冊公眾利益實體核數師 PricewaterhouseCoopersCertified Public Accountants and Registered PIE Auditor PRINCIPAL BANKERS 上海浦東發展銀行股份有限公司中國農業銀行股份有限公司中國工商銀行股份有限公司香港上海滙豐銀行有限公司 Shanghai Pudong Development Bank Co., Ltd.Agricultural Bank of China LimitedIndustrial and Commercial Bank of China LimitedThe Hongkong and Shanghai Banking Corporation Limited CORPORATE WEBSITE www.kinyat.com.hk www.kinyat.com.hk CHAIRMAN’S STATEMENT主席報告 致各位股東： Dear valued shareholders, Onbehalf of the board(the“Board”)of directors(the“Directors”) of Kin Yat Holdings Limited (the “Company”,and,together with its subsidiaries,the“Group”),I ampleased to present you the results for the year ended 31March 2024 (the “Year” or “FY2024”). 本人謹代表建溢集團有限公司（「本公司」，連同 其 附 屬 公 司 統 稱「本 集 團」）董 事（「董 事」）會（「董事會」）欣然向股東提呈截至二零二四年 三 月 三 十 一 日 止 年 度（「本 年 度」或「二 零二四財年」）的業績。 RESULTS OVERVIEW AND KEYACHIEVEMENTS IN FY2023/24 Overthe past few years,there has been a swift anddrasticchange in geopolitical landscape and businessenvironment. Black swan events have become increasinglyfrequent, from free trade to bilateral agreements to tradetariffs, along with rising geopolitical tensions, supply chaindisruptions,and the unfortunate COVID-19 pandemic.Consumer products have also seen significant fluctuationsin demand over this period, from initial reservation at theearly stage of the pandemic, to the vibrant work-from-home economy, and to now the relatively weak consumersentiment.In fact,the rapid changes in consumerbehaviourhave outpaced the possible adaptationsonthe production end.As a result,our business hassuffered, as reflected by a 73.3% drop in revenue, fromHK$4,139,886,000in FY2019 to HK$1,103,944,000 inFY2024. 過 去 數 年，地 緣 政 局 及 營 商 環 境 遭 逢 急 劇巨變。黑天鵝事件變得日漸頻繁，從自由貿易、雙邊協議到貿易關稅，再到地緣政局局勢升溫、供應鏈中斷乃至不幸的2019新型冠狀病毒病疫情。在這段期間，從疫情初期的初步預訂，到在家工作的活躍經濟，及至現時相對疲弱的消費者情緒，消費者產品需求經歷大幅波動。事實上，消費者行為轉變之快，已經超越生產端能夠適應之速度。我們的業務因而遭受打擊，這反映於收益由二零一九財年的4,139,886,000港元下跌73.3%至二零二四財年的1,103,944,000港元。 收 益 下 跌 亦 對 我 們 的 經 營 規 模 造 成 顯 著 壓力，我 們 的 產 能 使 用 率 徘 徊 於 相 對 較 低 水平，而單位折舊成本則處於高水平，導致重大規模不經濟。再加上原材料及勞工成本上升，我們的製造業務虧損由二零二三財年的14,889,000港元擴大至本年度的111,644,000港元。 The drop in revenue has also put notable pressure onour operating scale, with our capacity utilisation hoveringat a relatively low level and unit depreciation cost at ahigh level, leading to significant diseconomies of scale.Compoundedby rising material and labour costs,ourmanufacturing business reported an expanding loss thisyear, from HK$14,889,000 in FY2023 to HK$111,644,000. CHAIRMAN’S STATEMENT主席報告 （續） RESULTS OVERVIEW AND KEYACHIEVEMENTS IN FY2023/24(continued) Despitethe unsatisfactory results,we have madenumerous attempts to rejuvenate our business over theyears. In the face of shrinking margins from our formerlargestcustomer,we proactively readjusted our clientportfolio in 2019, aiming to diversify our client mix, tap intonew product categories, and ultimately expand margins.Onthis front,we saw initial success from expandingsector contributions, such as healthcare, smart products,andjuvenile and baby products.H