益美国际控股2025年度报告

Stock Code: 1870 2025ANNUALREPORT年 報 Contents Corporate Information Financial Highlights Chairman’s Statement Management Discussion and Analysis Biographical Details of Directors and Senior Management Corporate Governance Report Report of the Directors Independent Auditor’s Report 128 Consolidated Income Statement 129 Consolidated Statement of Comprehensive Income 130 Consolidated Statement of Financial Position Consolidated Statement of Changes in Equity 134 Consolidated Statement of Cash Flows Notes to the Consolidated Financial Statements Five-Year Financial Summary 243 Corporate Information BOARD OF DIRECTORSExecutive Directors Mr. Kwan Kam Tim(Chairman)Mr. Yip Wing ShingMr. Zhang Guangying Independent Non-Executive DirectorsProf. Hon. Lau Chi Pang,BBS, J.P.Mr. Chin Wai Keung RichardProf. Mo Lai Lan AUDIT COMMITTEE Prof. Mo Lai Lan(Chairlady)Mr. Chin Wai Keung RichardProf. Hon. Lau Chi Pang,BBS, J.P. REMUNERATION COMMITTEE Prof. Hon. Lau Chi Pang,BBS, J.P.(Chairman)Mr. Kwan Kam TimMr. Chin Wai Keung Richard NOMINATION COMMITTEE Prof. Hon. Lau Chi Pang,BBS, J.P.(Chairman)Mr. Kwan Kam TimMr. Chin Wai Keung RichardProf. Mo Lai Lan COMPANY SECRETARYMr. Yu Chim Shun REGISTER OFFICE Cricket Square, Hutchins DrivePO Box 2681Grand Cayman KY1-1111Cayman Islands Cricket Square, Hutchins DrivePO Box 2681Grand Cayman KY1-1111Cayman Islands HEAD OFFICE AND PRINCIPAL PLACEOF BUSINESS IN HONG KONG 168-200303007-3008 Unit 3007-3008, 30/F, West Tower, Shun Tak Centre,168-200 Connaught Road Central,Sheung Wan, Hong Kong Corporate Information (Continued) HONG KONG BRANCH SHARE REGISTRARAND TRANSFER OFFICE 1617 Tricor Investor Services Limited17/F, Far East Finance Centre16 Harcourt RoadHong Kong LEGAL ADVISER CLKW Lawyers LLP16-181191901A 1902 1902A CLKW Lawyers LLPRooms 1901A, 1902 & 1902A, 19/F.,New World Tower I,16-18 Queen’s Road Central,Central, Hong Kong INDEPENDENT AUDITOR 22 PricewaterhouseCoopersCertified Public AccountantsRegistered Public Interest Entity Auditor22/F, Prince’s BuildingCentralHong Kong PRINCIPAL BANKERSCitibank N.A., Hong Kong BranchThe Bank of East Asia, Limited www.acmehld.com COMPANY WEBSITEwww.acmehld.com 1870 STOCK CODE1870 Chairman’s Statement Dear Shareholders, On behalf of the board of directors (the “Board”) of Acme InternationalHoldings Limited (the “Company”), I am pleased to present the annualresults of the Company and its subsidiaries (collectively, the “Group”)for the year ended 31 December 2025 (the “Year”). 202512 31 BUSINESS OVERVIEW AND OUTLOOK 2025 The year 2025 was a challenging period for the Group. While theGroup continued to advance the development of its Green PowerEnergy Business, revenue from the BMU Systems Business declinedyear-on-year. This was primarily attributable to the Group’s strategicdecision to scale down this business in response to subduedconstruction project demand and intensified market competition inrecent years, and to redeploy resources towards the developmentof its Green Power Energy Business, in particular electricity trading,renewable energy solution and the ongoing energy storage project. Despite short-term pressures on revenue and profitability, the Groupremains cautiously optimistic about its long-term prospects. It isbelieved that by driving the green energy transition and optimisingour business portfolio, the Group will enhance its participation in theglobal energy transition and low-carbon economy, delivering moresustainable medium- to long-term returns for shareholders. AI+ AI+ Electricity Trading Business AI+24.5 The Group’s AI+ electricity trading business overall remained ina steady development phase during the Year. Under the relevantaccounting standards, provision of electricity trading services underthe Green Power Energy Business is presented at net basis, whichreflected the net pay-off between the electricity consumers andsuppliers. Negative revenue from this segment was recorded for theYear, primarily due to misestimation of electricity procurement costsin Shandong region amid overall market adjustments and structuraloptimisation. As one of the pioneering regions for China’s electricitymarket reforms, Shandong is undergoing a transition from relianceon traditional thermal power supply to high-quality developmentdominated by new energy sources, coupled with on-grid tariffmarketisation reforms, which has caused short-term price volatility andincreased uncertainty in cost forecasting. Shandong electricity tradingrecorded a negative revenue of approximately HK$24.5 million for theYear, mainly attributable to abnormal fluctuations in mid-to-long-termwholesale electricity prices, leading to elevated procurement costs. Chairman’s Statement (Continued) 2024123115.316.85.5 Nevertheless, the Group’s electricity trading operations across variousregions continued to advance steadily, with encouraging marketmomentum. In particular, electricity trading in Guangdong sustainedsolid