义合控股：2018_2019年报.PDF

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1、 YEE HOP2018/19 ANNUAL REPORT年報YEE HOPANNUAL REPORT 2018/19 年報Contents 目錄2Corporate Information 公司資料4Chairmans Statement 主席報告6Management Discussion and Analysis 管理層討論及分析15Corporate Governance Report 企業管治報告30Profiles of Directors and Senior Management 董事及高級管理層履歷36Report of Directors 董事會報告54Independen

2、t Auditors Report 獨立核數師報告64Consolidated Statement of Profit or Loss and Other Comprehensive Income 綜合損益及其他全面收益表66Consolidated Statement of Financial Position 綜合財務狀況表68Consolidated Statement of Changes in Equity 綜合權益變動表69Consolidated Statement of Cash Flows 綜合現金流量表71Notes to the Consolidated Financia

3、l Statements 綜合財務報表附註184Five Year Financial Summary 五年財務概要185Glossary 專用詞彙Corporate Information 公司資料Yee Hop Holdings Limited 義合控股有限公司2董事 執行董事： 詹燕群先生 （主席） 徐武明先生 （副主席） 甄志達先生 （行政總裁） 梁雄光先生獨立非執行董事： 李祿兆先生 余漢坤先生 王志強先生審核委員會 李祿兆先生 （主席） 余漢坤先生 王志強先生提名委員會 余漢坤先生 （主席） 詹燕群先生 王志強先生 李祿兆先生薪酬委員會 余漢坤先生 （主席） 詹燕群先生 王志強先生

4、 李祿兆先生公司秘書 胡大祥先生授權代表 甄志達先生 胡大祥先生獨立核數師 信永中和 （香港） 會計師事務所有限公司開曼群島註冊辦事處 Clifton House 75 Fort Street PO Box 1350 Grand Cayman KY1-1108 Cayman IslandsDIRECTORS Executive Directors: Mr. JIM Yin Kwan Jackin (Chairman) Mr. CHUI Mo Ming (Vice-chairman) Mr. YAN Chi Tat (Chief Executive Officer) Mr. LEUNG Hung

5、 Kwong DerrickIndependent Non-executive Directors: Mr. LEE Luk Shiu Mr. YU Hon Kwan Mr. WONG Chi Keung JohnnyAUDIT COMMITTEE Mr. LEE Luk Shiu (Chairman) Mr. YU Hon Kwan Mr. WONG Chi Keung JohnnyNOMINATION COMMITTEE Mr. YU Hon Kwan (Chairman) Mr. JIM Yin Kwan Jackin Mr. WONG Chi Keung Johnny Mr. LEE

6、Luk ShiuREMUNERATION COMMITTEE Mr. YU Hon Kwan (Chairman) Mr. JIM Yin Kwan Jackin Mr. WONG Chi Keung Johnny Mr. LEE Luk ShiuCOMPANY SECRETARY Mr. WU Tai CheungAUTHORISED REPRESENTATIVES Mr. YAN Chi Tat Mr. WU Tai CheungINDEPENDENT AUDITORS SHINEWING (HK) CPA LimitedREGISTERED OFFICE IN THE CAYMAN IS

7、LANDS Clifton House 75 Fort Street PO Box 1350 Grand Cayman KY1-1108 Cayman IslandsCorporate Information 公司資料Annual Report 2018/19 年報3香港總部及主要營業地點 香港 九龍灣 臨樂街19號 南豐商業中心 110406室開曼群島股份過戶登記總處 Estera Trust (Cayman) Ltd. Clifton House 75 Fort Street PO Box 1350 Grand Cayman KY1-1108 Cayman Islands香港股份過戶登記分

8、處 卓佳證券登記有限公司 香港 皇后大道東183號 合和中心 54樓主要往來銀行 中國銀行 （香港） 有限公司 星展銀行 （香港） 有限公司 香港上海滙豐銀行有限公司公司網站 www.yee-.hk股份代號 01662HEADQUARTERS AND PRINCIPAL PLACE OF BUSINESS IN HONG KONG Units 110406 Nan Fung Commercial Centre 19 Lam Lok Street Kowloon Bay Hong KongPRINCIPAL SHARE REGISTRAR AND TRANSFER OFFICE IN THE C

9、AYMAN ISLANDS Estera Trust (Cayman) Ltd. Clifton House 75 Fort Street PO Box 1350 Grand Cayman KY1-1108 Cayman IslandsBRANCH SHARE REGISTRAR AND TRANSFER OFFICE IN HONG KONG Tricor Investor Services Limited Level 54 Hopewell Centre 183 Queens Road East Hong KongPRINCIPAL BANKERS Bank of China (Hong

10、Kong) Limited DBS Bank (Hong Kong) Limited The Hongkong and Shanghai Banking Corporation LimitedCOMPANY WEBSITE www.yee-.hkSTOCK CODE 01662Chairmans Statement 主席報告Yee Hop Holdings Limited 義合控股有限公司4本人謹代表董事會欣然提呈截至2019年 3月31日止年度本集團的年報。2018年對於本集團而言是充滿機遇與挑 戰的一年。中美貿易糾紛升級、美國加息 及英國退歐後，市場信心整體受到不利 影響，2018年香港總

11、體經濟增速放緩。 儘管2018年存在上述挑戰，但我們連同 敬業奉獻的僱員爭取2019年財政年度實 現收益及溢利增長。於2019年財政年度，本集團已將其地基 及其他土木工程擴展至菲律賓。本集團 從事建築及採礦地盤的地盤平整工程， 並於菲律賓物色可進行直接合作的採礦 公司。此外，本集團亦投資於一間聯營公司，以 發展伯明罕物業項目。伯明罕物業項目包 括位於英國伯明罕Windmill Street的304間 住宅公寓。於本年報日期，公寓已預售約 41.8%。伯明罕物業項目預期將於2020年 完成。此外，於2019年3月，本集團已完成收購 深圳華大海洋的70%股本。深圳華大海 洋已拓展多個領域，包括水產

12、資源保護 及使用、分子水產養殖、水產生態及工 業加工、進出口貿易。業績概要 於2019年財政年度，本集團錄得綜合收 益約港幣600.3百萬元，較2018年同期增 加11.3%。本集團的毛利為港幣116.3百 萬元，較2018年同期增加34.4%。本公司 擁有人 應佔溢利為港幣41.1百萬元，較 2018年同期增加36.1%。2019年財政年度 的每股盈利為港幣0.08元，而2018年同 期則為港幣0.06元。本集團財務狀況依 然穩健，於財政年度結束時，流動資產 淨值為港幣134.9百萬元，並處於淨現金 水平。儘管挑戰與難關重重，但在員工及客戶的 鼎力支持下，本集團成功獲取14份合約， 且原有合

13、約總額達港幣574.2百萬元。於 2019年3月31日，未完成合約金額 （按原有 合約金額計算） 約港幣1,011.3百萬元。On behalf of the Board, I am pleased to present the annual report of the Group for the year ended 31 March 2019.2018 was a year full of opportunities and challenges to the Group. The market confidence was generally negatively impacted af

14、ter the escalation of the Sino-US trade dispute, United States interest rate hike and Brexit, the overall Hong Kongs economic growth was slowed down in 2018. Despite the above challenges in 2018, we, together with our dedicated staff, strove for an increase in revenue and profit of the 2019 Financia

15、l Year.During the 2019 Financial Year, the Group had diversified its foundation and other civil works to the Philippines. The Group engages in site foundation works of construction and mining sites and is looking for direct co-operation with mining companies in the Philippines.The Group has also inv

16、ested in an associate for the purpose of the development of the Birmingham Property Project. The Birmingham Property Project consists of 304 residential apartments situated at the Windmill Street, Birmingham, the United Kingdom. As at the date of this annual report, about 41.8% of the apartments hav

17、e been pre-sold and the Birmingham Property Project is expected to be completed by the year 2020.In addition, the Group has completed the acquisition of 70% share capital in SZ BGI in March 2019. SZ BGI has developed in a number of areas which include conservation and utilization of aquatic genetic

18、resources, molecular breeding of aquaculture species, ecological and industrial process of aquatic products, import and export trade.RESULT SUMMARY During the 2019 Financial Year, the Group recorded a consolidated revenue of approximately HK$600.3 million, representing an increase of 11.3% from the

19、2018 Corresponding Year. Gross Profit of the Group amounted HK$116.3 million, an increase of 34.4% from the 2018 Corresponding Year. Profit attributable to owners of the Company amounted to HK$41.1 million representing an increase of 36.1% as compared to the 2018 Corresponding Year. Earnings per sha

20、re were HK$0.08 for the 2019 Financial Year comparing with HK$0.06 for the 2018 Corresponding Year. The Group maintained healthy financial position with net current assets of HK$134.9 million and net cash position at the financial year end.Despite the challenges and difficulties, with the dedicated

21、support of our staff and customers, the Group has been successfully awarded 14 contracts with original contract sums of totaling HK$574.2 million and the outstanding contract value (based on the original contract value) as at 31 March 2019 amounted to approximately HK$1,011.3 million.Chairmans State

22、ment 主席報告Annual Report 2018/19 年報5前景 鑒於政府繼續推行2018至2019年度財政 預算案所規定的大型基建項目及增加提 供予公營及私營部門的土地的政策，我 們對香港建造業的長遠前景持審慎樂觀 態度。如2018年施政報告所提議，將推 出名為 明日大嶼願景 發展項目，為了香 港的未來利益，善用大嶼山的競爭優勢 及機遇。大嶼山將成為通向世界及粵港 澳大灣區的 雙門戶 。為把握華南經濟 與科技的快速發展，本集團於2019年3月 完成對深圳華大海洋的收購。深圳華大 海洋已在多個領域發展業務，包括水產 基因資源的保護與利用、水產分子育種 及進出口貿易等。儘管香港建造業的長

23、遠前景改善，但由 於地基與隧道工程的招標有限，而競爭 者的數量不斷增加，故建築行業激烈的 競爭仍繼續並加劇。此外，熟練勞工的 供應短缺及若干原材料價格的上漲，會 對已獲授合約的利潤率造成不利影響。 本集團已採取成本控制措施及有效的項 目管理程序，以維持合理的利潤率。展望未來，本集團將保持香港的地基及 隧道業務為本集團的核心業務並將繼續 我們的策略性戰略，多元化本集團的業 務範圍並擴大收入基礎。鳴謝 本人謹藉此機會，對所有董事會成員、 管理層團隊及員工的竭誠付出及珍貴貢 獻致以由衷感謝。本人亦謹此感謝各位客戶、分包商及供 應商、其他業務夥伴，以及最重要的各 位股東，於過往年間對本集團的不懈支 持

24、。主席 詹燕群香港，2019年6月27日OUTLOOK We are prudently optimistic towards the long-term outlook of the construction industry in Hong Kong, in view the Governments continuing policies to launch large scale infrastructure projects and to increase land supply to the public and the private sectors as stipulated i

25、n the Governments 20182019 Budget. As proposed in the 2018 Policy Address, the development project entitled “Lantau Tomorrow Vision” will be launched to capture the competitive advantages and opportunities of Lantau Island for the benefits of the future of Hong Kong. Lantau Island will become the “D

26、ouble Gateway” to the world and the Guangdong-Hong Kong-Macao Great Bay Area. To capture the rapid economic and technology developments in the southern China, the Group has completed the acquisition in SZ BGI in March 2019. SZ BGI has developed in a number of areas which include conservation and uti

27、lization of aquatic genetic resources, molecular breeding of aquatic products, import and export trade etc.Notwithstanding the long-term outlook of the construction industry in Hong Kong, the keen competition in the construction industry remains intense and exacerbated due to the growing number of c

28、ompetitors for limited available tenders for the foundation and tunneling works. Further, the shortage of supply of skilled labour and the increase in the price of certain raw materials would have adverse impact on the profit margin of the contracts awarded. The Group has taken cost control measures

29、 and effective project management procedures to maintain reasonable profit margin.Looking forward, the Group will maintain the foundation and tunneling business in Hong Kong as the core business of the Group and will continue our strategic strategy to diversify the business spectrum and to broaden t

30、he revenue base of the Group.APPRECIATION I would like to this opportunity to express my heartfelt appreciation to the board members, management team and staff for their dedication and their valuable contributions.I would also like to thank our customers, subcontractors and suppliers, other business

31、 partners and, most importantly, our Shareholders of their continue support to the Group for the past years.Jim Yin Kwan Jackin ChairmanHong Kong, 27 June 2019Management Discussion and Analysis 管理層討論及分析Yee Hop Holdings Limited 義合控股有限公司6業務回顧 本集團為一間在香港有著悠久歷史的承 建商，並主要從事提供地基工程 （包括預 鑽孔小型灌注樁、預鑽孔灌注工字樁及 沖擊式

32、工字樁，及其他土木工程，包括 地盤平整工程以及道路及行人道工程） 及 隧道工程 （包括頂管、手挖隧道及明挖回 填隧道工程） 。本集團通常聘請可執行地 盤工程的自家技術團隊及直接勞工，加 上種類眾多的機械及設備。於2019年財政年度，本集團已將其地基 及其他土木工程擴展至菲律賓。本集團 從事建築及採礦地盤的地盤平整工程， 並於菲律賓物色可進行直接合作的採礦 公司。此外，本集團亦投資於一間聯營公司，以 發展伯明罕物業項目。伯明罕物業項目包 括位於英國伯明罕Windmill Street的304間 住宅公寓。於本年報日期，公寓已預售約 41.8%。伯明罕物業項目預期將於2020年 完成。此外，於20

33、19年3月，本集團已完成收購 深圳華大海洋的70%股本。深圳華大海 洋已拓展多個領域，包括水產資源保護 及使用、分子水產養殖、水產生態及工 業加工、進出口貿易。於2019年 財 政 年 度，本 集 團 收 益 增 加 11.3%至 約 港 幣600.3百 萬 元 （2018年 同 期：港幣539.3百萬元） 。收益增加乃因以 下各項的合併影響所致：於2019年3月收 購的從事水產養殖、銷售及貿易的新附 屬公司貢獻約港幣8.6百萬元的收益、地 基及其他土木工程收益增加港幣50.7百 萬元，增幅11.2%，以及隧道工程收益增 加港幣1.7百萬元，增幅2.0%。於2019年財政年度，本集團獲得14份

34、合 約，原合約金額約港幣574.2百萬元，全 部為香港地基工程合約。於2019年3月31日，本集團手上共有21份待 完成的主要合約，按原合約價值計算餘 下香港合約價值約港幣1,011.3百萬元 （於 2018年3月31日：港幣1,027.9百萬元） 。BUSINESS REVIEW The Group is an established contractor in Hong Kong and is principally engaged in the provision of foundation works (including the construction of mini-piles,

35、 rock-socketed steel H-piles and driven steel H piles, and other civil works, including site formation works, and road and pavement works) and tunneling works (including pipe jacking, hand dig tunnel and cut-and-cover tunnel works). The Group usually engages its own team of technical staff and direc

36、t labour to perform on-site works, together with a broad range of owned machineries and equipment.During the 2019 Financial Year, the Group had diversified its foundation and other civil works to the Philippines. The Group engages in site foundation works of construction and mining sites and is look

37、ing for direct co-operation with mining companies in the Philippines.The Group has also invested in an associate for the purpose of the development of the Birmingham Property Project. The Birmingham Property Project consists of 304 residential apartments situated at the Windmill Street, Birmingham,

38、the United Kingdom. As at the date of this annual report, about 41.8% of the apartments have been pre-sold and the Birmingham Property Project is expected to be completed by the year 2020.In addition, the Group has completed the acquisition of 70% share capital in SZ BGI in March 2019. SZ BGI has de

39、veloped in a number of areas which include conservation and utilization of aquatic genetic resources, molecular breeding of aquaculture species, ecological and industrial process of aquatic products, import and export trade.For the 2019 Financial Year, the revenue of the Group increased to approxima

40、tely HK$600.3 million (2018 Corresponding Year: HK$539.3 million), an increase of 11.3%. The increase in revenue is the combined effect of the revenue contributed from new subsidiaries acquired in March 2019 of approximately HK$8.6 million, which are engaged in the breading, sales and trading of aqu

41、atic products, the increase in revenue of the foundation and other civil works by HK$50.7 million, an increase of 11.2% and an increase in revenue of the tunneling works by HK$1.7 million, an increase of 2.0%.During the 2019 Financial Year, the Group has been awarded 14 contracts with original contr

42、act sums of approximately HK$574.2 million of which all were for foundation works in Hong Kong.As at 31 March 2019, the Group had a total of 21 major contracts on hands with the outstanding contract value in Hong Kong (based on the original contract value) amounted to approximately HK$1,011.3 millio

43、n (as at 31 March 2018: HK$1,027.9 million) to be completed.Management Discussion and Analysis 管理層討論及分析Annual Report 2018/19 年報7業務展望 鑒於政府繼續推行2018至2019年度財政 預算案所規定的大型基建項目及增加提 供予公營及私營部門的土地的政策，我 們對香港建造業的長遠前景持審慎樂觀 態度。如2018年施政報告所提議，將推 出名為 明日大嶼願景 發展項目，為了香 港的未來利益，善用大嶼山的競爭優勢 及機遇。大嶼山將成為通向世界及粵港 澳大灣區的 雙門戶 。為把握華

44、南經濟 與科技的快速發展，本集團於2019年3月 完成對深圳華大海洋的收購。深圳華大 海洋已在多個領域發展業務，包括水產 基因資源的保護與利用、水產分子育種 及進出口貿易等。儘管香港建造業的長遠前景改善，但由 於地基與隧道工程的招標有限，而競爭 者的數量不斷增加，故建築行業激烈的 競爭仍繼續並加劇。此外，熟練勞工的 供應短缺及若干原材料價格的上漲，會 對已獲授合約的利潤率造成不利影響。 本集團已採取成本控制措施及有效的項 目管理程序，以維持合理的利潤率。展望未來，本集團將保持香港的地基及 隧道業務為本集團的核心業務並將繼續 我們的策略性戰略，多元化本集團的業 務範圍並擴大收入基礎。安全及環境管

45、理 本集團十分重視質量保證體系及其擁有 對工程質量、安全、職業健康及環境管 理的堅定承諾，以確保按時向客戶交付 優質工程。本集團實施符合國際標準的嚴格管理體 系以規管其工程質量、安全及環境管理 標準。本集團分別符合質量管理體系、環 境管理體系、能源管理體系及職業安全 與健康管理體系ISO 9001、ISO 14001、 ISO 50001及OHSAS 18001認證要求。BUSINESS OUTLOOK We are prudently optimistic towards the long-term outlook of the construction industry in Hong K

46、ong, in view the Governments continuing policies to launch large scale infrastructure projects and to increase land supply to the public and the private sectors as stipulated in the Governments 20182019 Budget. As proposed in the 2018 Policy Address, the development project entitled “Lantau Tomorrow

47、 Vision” will be launched to capture the competitive advantages and opportunities of Lantau Island for the benefits of the future of Hong Kong. Lantau Island will become the “Double Gateway” to the world and the Guangdong-Hong Kong-Macao Great Bay Area. To capture the rapid economic and technology d

48、evelopments in the southern China, the Group has completed the acquisition in SZ BGI in March 2019. SZ BGI has developed in a number of areas which include conservation and utilization of aquatic genetic resources, molecular breeding of aquatic products, import and export trade etc.Notwithstanding t

49、he long-term outlook of the construction industry in Hong Kong, the keen competition in the construction industry remains intense and exacerbated due to the growing number of competitors for limited available tenders for the foundation and tunneling works. Further, the shortage of supply of skilled labour and the increase in the price of certain raw materials would have adverse impact on the profit margin of the