| 時間：2020年12月18日 12:25:48 中財網 |
原標題:安保工程控股:中期報告 2020/2021
(Incorporated in the Cayman Islands with limited liability)
(於開曼群島註冊成立的有限公司)
Stock Code 股份代號: 1627
INTERIM REPORT 中期報告
2020/2021
CONTENTS目錄
2公司資料
Corporate Information
4綜合損益及其他全面收益表
Consolidated Statement of Profit or Loss and
Other Comprehensive Income
6綜合財務狀況表
Consolidated Statement of Financial Position
8綜合權益變動表
Consolidated Statement of Changes in Equity
9簡明綜合現金流量表
Condensed Consolidated Statement of Cash Flows
10簡明綜合中期財務資料附註
Notes to the Condensed Consolidated Interim Financial Information
28管理層討論及分析
Management Discussion and Analysis
40其他資料
Other Information
BOARD OF DIRECTORS
Executive Directors
Mr. NGAI Chun Hung (Chairman)
Mr. CHEUNG Ho Yuen (Chief Executive Officer)
Mr. IP Yik Nam
Mr. LAU Chi Fai, Daniel
Mr. YAU Kwok Fai
Independent Non-executive Directors
Dr. LI Yok Sheung
Ms. MAK Suk Hing
Ms. LEUNG Yuen Shan, Maisy
BOARD COMMITTEES
Audit Committee
Ms. LEUNG Yuen Shan, Maisy (Chairman)
Dr. LI Yok Sheung
Ms. MAK Suk Hing
Remuneration Committee
Dr. LI Yok Sheung (Chairman)
Ms. MAK Suk Hing
Ms. LEUNG Yuen Shan, Maisy
Mr. YAU Kwok Fai
Nomination Committee
Mr. NGAI Chun Hung (Chairman)
Dr. LI Yok Sheung
Ms. MAK Suk Hing
Ms. LEUNG Yuen Shan, Maisy
COMPANY SECRETARY
Mr. MUI Siu Hong, CPA
INDEPENDENT AUDITOR
Ernst & Young
Certified Public Accountants
董事會
執行董事
魏振雄先生（主席）
張浩源先生（行政總裁）
葉亦楠先生
劉志輝先生
遊國輝先生
獨立非執行董事
李毓湘博士
麥淑卿女士
梁婉珊女士
董事會委員會
審核委員會
梁婉珊女士（主席）
李毓湘博士
麥淑卿女士
薪酬委員會
李毓湘博士（主席）
麥淑卿女士
梁婉珊女士
遊國輝先生
提名委員會
魏振雄先生（主席）
李毓湘博士
麥淑卿女士
梁婉珊女士
公司秘書
梅兆康先生（會計師）
獨立核數師
安永會計師事務所
執業會計師
REGISTERED OFFICE
PO Box 1350, Clifton House
75 Fort Street
Grand Cayman KY1-1108
Cayman Islands
HEAD OFFICE AND PRINCIPAL PLACE
OF BUSINESS
No. 155 Waterloo Road, Kowloon Tong
Kowloon, Hong Kong
SHARE REGISTRAR AND TRANSFER OFFICE
Principal Share Registrar and Transfer Office
in the Cayman Islands
Ocorian Trust (Cayman) Limited
PO Box 1350, Clifton House
75 Fort Street
Grand Cayman KY1-1108
Cayman Islands
Hong Kong Branch Share Registrar and Transfer Office
Tricor Investor Services Limited
Level 54, Hopewell Centre
183 Queen’s Road East
Hong Kong
SHARE INFORMATION
Ordinary Share Listing
Place of listing Main Board of the Stock Exchange
of Hong Kong Limited
Stock code 01627
Board lot size 4,000 shares
WEBSITES
www.ableeng.com.hk
http://www.gennexir.com/?page_id=191&code=01627&lang=en_US
註冊辦事處
PO Box 1350, Clifton House
75 Fort Street
Grand Cayman KY1-1108
Cayman Islands
總辦事處兼主要營業地點
香港九龍
九龍塘窩打老道155號
股份過戶登記處
開曼群島股份過戶登記總處
Ocorian Trust (Cayman) Limited
PO Box 1350, Clifton House
75 Fort Street
Grand Cayman KY1-1108
Cayman Islands
香港股份過戶登記分處
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
股份資料
普通股上市
上市地點
股票代號
每手買賣單位
香港聯合交易所
有限公司主板
016274,000股
網址
www.ableeng.com.hk
http://www.gennexir.com/?page_id=191&code=01627&lang=zh_HK
The board (the 「Board」) of directors (the 「Director(s)」)
of Able Engineering Holdings Limited (the 「Company」)
presents the unaudited condensed consolidated interim
financial information of the Company and its subsidiaries
(collectively, the 「Group」) for the six months ended 30
September 2020 (「this period」) together with comparative
figures for the corresponding period in the previous year. The
condensed consolidated interim financial information has not
been audited, but has been reviewed by the Company’s audit
committee.
安保工程控股有限公司（「本公司」）的董事（「董
事」）會（「董事會」）提呈本公司及其附屬公司（統
稱「本集團」）截至二零二零年九月三十日止六個月
（「本期間」）的未經審核簡明綜合中期財務資料，
連同於去年同期的比較數字。簡明綜合中期財務
資料未經審核，惟已經本公司的審核委員會審閱。
Consolidated statement of Profit or loss and other ComPrehensive inCome
綜合損益及其他全面收益表
Six months ended 30 September 2020截至二零二零年九月三十日止六個月
Unaudited
未經審核
Six months ended
30 September
截至九月三十日止六個月
Notes
附註
2020
二零二零年
HK$』000
千港元
2019
二零一九年
HK$』000
千港元
REVENUEContract costs
收入
合約成本
5 1,411,491
(1,392,804)
644,367
(498,984)
Gross profitOther income and gainsAdministrative expensesFinance costsShare of profits and losses of
joint ventures
毛利
其他收入及收益
行政開支
財務費用
應佔合營企業損益
5
18,687
14,327
(25,982)
(3,957)
(574)
145,383
8,638
(57,786)
(358)
2,913
PROFIT BEFORE TAXIncome tax expense
除稅前溢利
所得稅開支
6
7
2,501
(1,105)
98,790
(19,233)
PROFIT FOR THE PERIOD期間溢利
1,396 79,557
Unaudited
未經審核
Six months ended
30 September
截至九月三十日止六個月
Note
附註
2020
二零二零年
HK$』000
千港元
2019
二零一九年
HK$』000
千港元
OTHER COMPREHENSIVE LOSSOther comprehensive loss that
may be reclassified to profit or loss
in subsequent periods:
Share of other comprehensive loss of
joint ventures
其他全面虧損
於其後期間可能重新分類至
損益的其他全面虧損：
應佔合營企業其他全面虧損
– (2,263)
OTHER COMPREHENSIVE LOSS
FOR THE PERIOD
期間其他全面虧損
– (2,263)
PROFIT AND TOTAL
COMPREHENSIVE INCOME
FOR THE PERIOD
期間溢利及全面收益總額
1,396 77,294
Profit for the period attributable to
owners of the parent
母公司持有者應佔期間溢利
1,396 79,557
Profit and total comprehensive income
for the period attributable to owners
of the parent
母公司持有者應佔期間溢利及
全面收益總額
1,396 77,294
EARNINGS PER SHARE
ATTRIBUTABLE TO ORDINARY
EQUITY HOLDERS OF
THE PARENTBasic and diluted (HK cents)
母公司普通權益持有者
應佔每股盈利
基本及攤薄（港仙）
9 0.07 3.98
Notes
附註
Unaudited
未經審核
30 September
2020
二零二零年
九月三十日
HK$』000
千港元
Audited
經審核
31 March
2020
二零二零年
三月三十一日
HK$』000
千港元
NON-CURRENT ASSETSProperty, plant and equipmentInvestments in joint venturesDeferred tax assets
非流動資產
物業、機器及設備
於合營企業的投資
遞延稅項資產
10 635,771
88,547
217
618,512
89,121
217
Total non-current assets非流動資產總值
724,535 707,850
CURRENT ASSETSAccounts receivableContract assetsPrepayments, other receivables and
other assetsTax recoverableRestricted cashCash and cash equivalents
流動資產
應收賬款
合約資產
預付款項、其他應收款及
其他資產
可收回稅項
受限制現金
現金及現金等值物
11 330,789
191,838
38,826
7,060
110,000
724,966
201,272
218,845
58,388
8,165
110,000
616,645
Total current assets流動資產總值
1,403,479 1,213,315
CURRENT LIABILITIESAccounts payableContract liabilitiesTax payableOther payables and accrualsInterest-bearing bank loans
流動負債
應付賬款
合約負債
應付稅項
其他應付款及應計費用
計息銀行貸款
12 490,656
30,000
919
65,259
266,681
314,936
–
919
222,234
121,517
Total current liabilities流動負債總值
853,515 659,606
NET CURRENT ASSETS流動資產淨值
549,964 553,709
TOTAL ASSETS LESS CURRENT
LIABILITIES
資產總值減流動負債
1,274,499 1,261,559
Note
附註
NON-CURRENT LIABILITIES非流動負債
Other payables其他應付款
Total non-current liabilities非流動負債總值
Net assets資產淨值
EQUITYEquity attributable to owners
of the parent
Issued capitalReserves
權益
母公司持有者應佔權益
已發行股本
13
儲備
Total equity總權益
Unaudited
未經審核
30 September
2020
二零二零年
九月三十日
HK$』000
千港元
18,260
18,260
1,256,239
20,000
1,236,239
1,256,239
Audited
經審核
31 March
二零二零年
三月三十一日
HK$』000
千港元
6,716
6,716
1,254,843
20,000
1,234,843
1,254,843
Unaudited
未經審核
Attributable to owners of the parent
母公司持有者應佔
Issued Share Capital Other Retained Total
capital premium reserve reserve profits equity
已發行股本股份溢價資本儲備其他儲備保留溢利權益總計
HK$』000 HK$』000 HK$』000 HK$』000 HK$』000 HK$』000
千港元千港元千港元千港元千港元千港元
At 1 April 2020於二零二零年四月一日
20,000 574,485* (36,742)* –* 697,100* 1,254,843
Profit for the period期間溢利
– – – – 1,396 1,396
At 30 September 2020於二零二零年九月三十日
20,000 574,485* (36,742)* –* 698,496* 1,256,239
At 1 April 2019於二零一九年四月一日
20,000 574,485 (36,742) 1,766 753,125 1,312,634
Profit for the period期間溢利
– – – – 79,557 79,557
Other comprehensive loss for the period:期間其他全面虧損：
Share of other comprehensive loss of 應佔合營企業其他
joint ventures全面虧損
– – – (2,263) – (2,263)
2018/19 final dividend (note 8)二零一八╱一九年末期股息
（附註8）
– – – – (80,000) (80,000)
At 30 September 2019於二零一九年九月三十日
20,000 574,485 (36,742) (497) 752,682 1,309,928
* These reserve accounts comprise the consolidated reserves of * 於二零二零年九月三十日，該等儲備賬目包括於
HK$1,236,239,000 (31 March 2020: HK$1,234,843,000) in the 綜合財務狀況表中的綜合儲備1,236,239,000港元
consolidated statement of financial position as at 30 September 2020. （於二零二零年三月三十一日：
1,234,843,000港
元）。
Unaudited
未經審核
Six months ended
30 September
截至九月三十日止六個月
Notes
附註
2020
二零二零年
HK$』000
千港元
2019
二零一九年
HK$』000
千港元
Net cash flows used
in operating activities
經營業務所用的現金流量淨額
(26,859) (114,396)
CASH FLOWS FROM INVESTING
ACTIVITIESAdditions of items of property,
plant and equipmentProceeds from disposal of items of property,
plant and equipmentIncrease in restricted cash
投資業務的現金流量
添置物業、機器及設備項目
出售物業、機器及設備項目的
所得款項
受限制現金增加
10 (2,541)
20
–
–
–
(110,000)
Net cash flows used in investing activities投資業務所用的現金流量淨額
(2,521) (110,000)
CASH FLOWS FROM
FINANCING ACTIVITIESNew bank loansRepayment of bank loansDividends paidPrincipal portion of lease payments
融資業務的現金流量
新增銀行貸款
償還銀行貸款
已付股息
租賃付款的本金部分
8
507,348
(362,184)
–
(7,463)
258,900
(256,641)
(80,000)
(3,263)
Net cash flows from/(used in) financing
activities
融資業務所得╱（所用）的
現金流量淨額
137,701 (81,004)
NET INCREASE/(DECREASE) IN
CASH AND CASH EQUIVALENTSCash and cash equivalents
at beginning of period
現金及現金等值物
增加╱（減少）淨額
現金及現金等值物期初餘額
108,321
616,645
(305,400)
896,837
CASH AND CASH EQUIVALENTS
AT END OF PERIOD
現金及現金等值物期末餘額
724,966 591,437
ANALYSIS OF CASH AND
CASH EQUIVALENTS:
Cash and bank balancesNon-pledged time deposits
現金及現金等值物的分析：
現金及銀行結餘
無抵押定期存款
724,966
–
231,437
360,000
Cash and cash equivalents as stated in
the condensed consolidated statement
of cash flows
簡明綜合現金流量表內所述的
現金及現金等值物
724,966 591,437
1.
CORPORATE INFORMATION
Able Engineering Holdings Limited (the 「Company」) is
a limited liability company incorporated in the Cayman
Islands and its shares are publicly traded on the Main
Board of the Stock Exchange of Hong Kong Limited (the
「Stock Exchange」). The registered office of the Company
is located at PO Box 1350, Clifton House, 75 Fort Street,
Grand Cayman, KY1-1108, Cayman Islands. The principal
place of business of the Company is located at No. 155
Waterloo Road, Kowloon Tong, Kowloon, Hong Kong.
During the six months ended 30 September 2020 (「the/
this/current period」), the Company and its subsidiaries
(collectively, referred to as the 「Group」) were engaged in
building construction and repair, maintenance, alteration
and addition (「RMAA」) works in Hong Kong. There
were no significant changes in the nature of the Group’s
principal activities during the period.
In the opinion of the Board, as at 30 September 2020,
Profit Chain Investments Limited (「Profit Chain」),
a company incorporated in the British Virgin Islands
(「BVI」), was the immediate holding company of the
Company; Vantage International (Holdings) Limited
(「Vantage」, together with its subsidiaries, excluding the
Group, collectively referred to as the 「Remaining Vantage
Group」), a company incorporated in Bermuda and
which shares were listed on the Main Board of the Stock
Exchange from 8 September 2000 to 22 October 2020,
was the intermediate holding company of the Company;
and the ultimate holding company of the Company was
Winhale Ltd., a company incorporated in the BVI.
Subsequent to the change in shareholding structure of
controlling shareholder of the Company on 19 November
2020, Golden Lux Holdings Limited, a company
incorporated in the BVI, became the immediate holding
company of the Company; Golden More Limited, a
company incorporated in the BVI, became the ultimate
holding company of the Company.
1.
公司資料
安保工程控股有限公司（「本公司」）為一家於
開曼群島註冊成立的有限公司，其股份於香
港聯合交易所有限公司（「聯交所」）主板公
開買賣。本公司的註冊辦事處位於
PO Box
1350, Clifton House, 75 Fort Street, Grand
Cayman, KY1-1108, Cayman Islands。本公司
的主要營業地點位於香港九龍九龍塘窩打老
道155號。
於截至二零二零年九月三十日止六個月（「本
期間」），本公司及其附屬公司（統稱為「本集
團」）於香港從事樓宇建築及維修、改建及加
建（「RMAA」）工程。於本期間，本集團的主
要業務活動的性質並無重大改變。
董事會認為，於二零二零年九月三十日，
Profit Chain Investments Limited（「
Profit
Chain」，一間於英屬維京群島（「英屬維爾
京群島」）註冊成立的公司）為本公司的直接
控股公司；盈信控股有限公司（「盈信」，連
同其附屬公司（本集團除外）則統稱為「餘下
盈信集團」，於百慕達註冊成立的公司，其
股份於二零零零年九月八日至二零二零年十
月二十二日於聯交所主板上市）為本公司的
中間控股公司；而本公司的最終控股公司為
Winhale Ltd.（一間於英屬維京群島註冊成
立的公司）。
於二零二零年十一月十九日，本公司控股股
東股權架構變更後，金力控股有限公司（一
間於英屬維京群島註冊成立的有限公司）
為本公司的直接控股公司；金進有限公司
（一間於英屬維京群島註冊成立的有限公
司）為本公司的最終控股公司。
2.
BASIS OF PREPARATION
This unaudited condensed consolidated interim financial
information for the six months ended 30 September
2020 has been prepared in accordance with Hong Kong
Accounting Standard (「HKAS」) 34 「Interim Financial
Reporting」 issued by the Hong Kong Institute of Certified
Public Accountants (the 「HKICPA」) and the applicable
disclosure requirements set out in Appendix 16 of the
Rules Governing the Listing of Securities on the Stock
Exchange (the 「Listing Rules」).
The accounting policies and basis of preparation
adopted in the preparation of this unaudited condensed
consolidated interim financial information are consistent
with those set out in the Group’s audited consolidated
financial statements for the year ended 31 March 2020
which have been prepared in accordance with Hong
Kong Financial Reporting Standards (「HKFRSs」) (which
include all HKFRSs, HKASs and Interpretations) issued by
the HKICPA and accounting principles generally accepted
in Hong Kong, except as stated in note 3 to the unaudited
condensed consolidated interim financial information
below. This unaudited condensed consolidated interim
financial information has been prepared under the
historical cost convention, except for a derivative
financial instrument which has been measured at fair
value, and is presented in Hong Kong dollars (「HK$」),
which is the Company’s functional and presentation
currency, and all values are rounded to the nearest
thousand except when otherwise indicated.
This unaudited condensed consolidated interim financial
information does not include all the information and
disclosures required in the annual financial statements,
and should be read in conjunction with the Group’s annual
consolidated financial statements for the year ended
31 March 2020. This condensed consolidated interim
financial information has not been audited or reviewed
by the Company’s external auditor, but has been reviewed
by the audit committee of the Company (the 「Audit
Committee」).
2.
編製基準
此截至二零二零年九月三十日止六個月的未
經審核簡明綜合中期財務資料乃根據香港會
計師公會（「香港會計師公會」）頒佈的香港會
計準則（「香港會計準則」）第34號中期財務報
告及聯交所證券上市規則（「上市規則」）附錄
十六載列的適用披露規定而編製。
除於下文未經審核簡明綜合中期財務資料附
註3所述外，本集團在編製此未經審核簡明
綜合中期財務資料時所採用的會計政策及編
製基準，與其於截至二零二零年三月三十一
日止年度的經審核綜合財務報表所載一致，
並按照香港會計師公會頒佈的香港財務報告
準則（「香港財務報告準則」）（包括所有香港
財務報告準則、香港會計準則及詮釋）及香
港公認會計原則而編製。此未經審核簡明綜
合中期財務資料乃根據歷史法編製（一項已
按公平值計量的衍生金融工具除外），並以
港元（「港元」）（本公司的功能及呈列貨幣）呈
列，除另有說明者外，所有價值均約整至最
接近的千位數。
此未經審核簡明綜合中期財務資料並不包括
年度財務報表所需披露的全部資料，並應與
本集團截至二零二零年三月三十一日止年度
的年度綜合財務報表一併閱讀。此簡明綜合
中期財務資料並未經本公司的外聘核數師審
核或審閱，惟已由本公司的審核委員會（「審
核委員會」）審閱。
3. CHANGES IN ACCOUNTING POLICIES AND 3. 會計政策及披露的變動
DISCLOSURES
The Group has adopted the following revised HKFRSs for 本集團於編製此未經審核簡明綜合中期財務
the first time for the current period’s unaudited interim 資料時已首次採納以下修訂香港財務報告準
condensed consolidated financial statements: 則：
Amendments to HKFRS 3 Definition of a Business 香港財務報告準則業務的定義
第3號（修訂）
Amendments to HKFRS 9, Interest Rate Benchmark Reform 香港財務報告準則利率基準改革
HKAS 39 and HKFRS 7 第9號、香港會計準則
第39號及香港財務
報告準則第7號（修訂）
Amendments to HKFRS 16 Covid-19-Related Rent Concessions 香港財務報告準則新型冠狀病毒
(early adopted) 第16號（修訂）相關租金寬免
（提早採納）
Amendment to HKAS 1 Definition of Material 香港會計準則第1號及重大的定義
and HKAS 8 香港會計準則第8號
（修訂）
The nature and impact of the revised HKFRSs and HKASs 經修訂香港財務報告準則及香港會計準則的
are described below: 性質及影響載述如下：
(a) Amendments to HKFRS 3 – Definition of a (a) 香港財務報告準則第3號（修訂）－業務
Business 的定義
Amendments to HKFRS 3 clarify and provide 香港財務報告準則第3號的修訂澄清及
additional guidance on the definition of a business. 提供有關業務定義的額外指引。該等修
The amendments clarify that for an integrated set 訂澄清，對於視為業務的一組整合活動
of activities and assets to be considered a business, 及資產，其必須至少一項投入及實質性
it must include, at a minimum, an input and a 流程，共同對創造產出的能力作出重大
substantive process that together significantly 貢獻。業務可以在不包含創造產出所需
contribute to the ability to create output. A business 的所有投入及過程的情況下存在。該等
can exist without including all of the inputs and 修訂取消了對市場參與者是否有能力獲
processes needed to create outputs. The amendments 得業務並繼續產生產出的評估。相反，
remove the assessment of whether market participants 重點乃獲得的投入及獲得的實質性過程
are capable of acquiring the business and continue 是否共同對創造產出的能力作出重大貢
to produce outputs. Instead, the focus is on whether 獻。該等修訂亦縮小產出的定義，重點
acquired inputs and acquired substantive processes 關注向客戶提供的商品或服務、投資收
together significantly contribute to the ability to 入或日常業務過程中的其他收入。此
create outputs. The amendments have also narrowed 外，該等修訂提供了指導，以評估獲得
the definition of outputs to focus on goods or services 的過程是否具有實質性，並引入可選的
provided to customers, investment income or other 公允價值集中測試，以便簡化評估所獲
income from ordinary activities. Furthermore, the 得的一系列活動及資產是否並非為一項
amendments provide guidance to assess whether 業務。本集團已對於二零二零年四月一
an acquired process is substantive and introduce an 日或之後發生的交易或其他事件以前瞻
optional fair value concentration test to permit a 方式採納該等修訂。該等修訂對本集團
simplified assessment of whether an acquired set of 未經審核簡明綜合中期財務報表並無任
activities and assets is not a business. The Group has 何影響。
applied the amendments prospectively to transactions
or other events that occurred on or after 1 April 2020.
The amendments did not have any impact on the
financial position and performance of the Group.
3. CHANGES IN ACCOUNTING POLICIES AND 3. 會計政策及披露的變動（續）
DISCLOSURES (continued)
(b) Amendments to HKFRS 9, HKAS 39 and HKFRS 7 (b) 香港財務報告準則第9號、香港會計準
– Interest Rate Benchmark Reform 則第
39號及香港財務報告準則第
7號
（修訂）－利率基準改革
Amendments to HKFRS 9, HKAS 39 and HKFRS 7 香港財務報告準則第9號、香港會計準
address the effects of interbank offered rate reform 則第
39號及香港財務報告準則第
7號的
on financial reporting. The amendments provide 修訂旨在解決銀行同業拆息改革對財務
temporary reliefs which enable hedge accounting to 申報的影響。該等修訂提供可在替換現
continue during the period of uncertainty before the 有利率基準前的不確定期限內繼續進行
replacement of an existing interest rate benchmark. 對沖會計處理的暫時性補救措施。此
In addition, the amendments require companies to 外，該等修訂規定公司須向投資者提供
provide additional information to investors about 有關直接受該等不確定因素影響的對沖
their hedging relationships which are directly affected 關係的額外資料。由於本集團並無任何
by these uncertainties. The amendments did not have 利率對沖關係，故該等修訂並無對本集
any impact on the financial position and performance 團的財務狀況及表現造成任何影響。
of the Group as the Group does not have any interest
rate hedge relationships.
(c) Amendment to HKFRS 16 – Covid-19 (「COVID(
c) 香港財務報告準則第16號（修訂）－新型
19」)-Related Rent Concessions (early adopted) 冠狀病毒（「COVID-19」）相關租金寬免
（提早採納）
Amendment to HKFRS 16 provides a practical 香港財務報告準則第
16號的修訂為承
expedient for lessees to elect not to apply lease 租人提供一項可行權宜方法以選擇就
modification accounting for rent concessions COVID-19疫情直接引致的租金寬免不
arising as a direct consequence of the COVID-19 應用租賃修改會計處理。該可行權宜方
pandemic. The practical expedient applies only to 法僅適用於COVID-19疫情直接引致的
rent concessions occurring as a direct consequence of 租金寬免，且僅當(i)租賃付款的變動使
the COVID-19 pandemic and only if (i) the change 租賃代價有所修訂，而租賃的經修訂代
in lease payments results in revised consideration for 價與緊接變動前的租賃代價大致相同，
the lease that is substantially the same as, or less than, 或少於緊接變動前的租賃代價；
(ii)租
the consideration for the lease immediately preceding 賃付款的任何減少僅影響原到期日為二
the change; (ii) any reduction in lease payments 零二一年九月三十日或之前的付款；及
affects only payments originally due on or before 30 (iii)租賃的其他條款及條件並無實質變
September 2021; and (iii) there is no substantive 動。該修訂於二零二零年六月一日或之
change to other terms and conditions of the lease. 後開始的年度期間追溯生效，並允許提
The amendment is effective retrospectively for annual 早應用。本集團已於二零二零年四月一
periods beginning on or after 1 June 2020 with earlier 日採用該等修訂，而該等修訂對本集團
application permitted. The Group has early adopted 未經審核簡明綜合中期財務報表並無任
the amendment on 1 April 2020 and the amendments 何影響。
did not have any impact on the Group’s interim
condensed consolidated financial information.
3. CHANGES IN ACCOUNTING POLICIES AND 3. 會計政策及披露的變動（續）
DISCLOSURES (continued)
(d) Amendments to HKAS 1 and HKAS 8 – Definition (d) 香港會計準則第1號及香港會計準則第8of Material 號（修訂）－重大的定義
Amendments to HKAS 1 and HKAS 8 provide a 香港會計準則第1號及香港會計準則第
new definition of material. The new definition states 8號的修訂提供一個新的重大定義。新
that information is material if omitting, misstating 定義訂明，倘資料遺漏、失實或模糊不
or obscuring it could reasonably be expected to 清，而可能合理預期影響一般用途的財
influence decisions that the primary users of general 務報表的主要使用者按該等財務報表作
purpose financial statements make on the basis 出的決定，則資料屬重大。該等修訂澄
of those financial statements. The amendments 清，重要性將視乎資料的性質或量級而
clarify that materiality will depend on the nature or 定。該等修訂對本集團未經審核簡明綜
magnitude of information. The amendments did not 合中期財務報表並無任何影響。
have any impact on the Group’s interim condensed
consolidated financial information.
4. OPERATING SEGMENT INFORMATION 4. 分部資料
For management purposes, the Group has only one 就管理而言，本集團僅有一個可匯報經營分
reportable operating segment which is the contract works 部，即合約工程分部。合約工程分部從事合
segment. The contract works segment engages in contract 約工程，以總承建商或分判商的身份，主要
works, acting as a main contractor or a sub-contractor, 涉及樓宇建築及RMAA工程。因此，概無
primarily in respect of building construction and RMAA 呈列分部資料。有關本集團來自樓宇建築及
works. Accordingly, no segment information is presented. RMAA工程的收入的進一步資料載於財務報
Further details of the Group’s revenue from building 表附註5。
construction and RMAA works are set out in note 5 to
the unaudited condensed consolidated interim financial
information.
The Group’s revenue from external customers was derived 本集團從外部客戶收入所得僅源自其於香港
solely from its operations in Hong Kong and the non的
業務，而本集團的非流動資產均位於香
current assets of the Group were all located in Hong Kong. 港。
5. REVENUE, OTHER INCOME AND GAINS
All of the Group’s revenue from construction services
is recognised over time and an analysis of the Group’s
revenue, other income and gains, is as follows:
5. 收入、其他收入及收益
本集團所有來自建築服務的收入乃隨時間被
確認及本集團的收入、其他收入及收益的分
析如下：
Unaudited
未經審核
Six months ended 30 September
截至九月三十日止六個月
2020
二零二零年
HK$』000
千港元
2019
二零一九年
HK$』000
千港元
Revenue from contracts with customers來自客戶的收入
Contract works for building constructionContract works for RMAA works
樓宇建築的合約工程
RMAA工程合約工程
1,405,129
6,362
621,982
22,385
1,411,491 644,367
Other income and gains其他收入及收益
Interest incomeGain on disposal of items of property,
plant and equipmentGross rental income with
fixed lease paymentsGovernment subsidies
利息收入
出售物業、機器及設備項目的收益
有固定租賃付款的租金收入總額
政府資助
3,530
20
–
10,777
6,270
–
1,972
396
14,327 8,638
6. PROFIT BEFORE TAX
The Group’s profit before tax is arrived at after charging:
6. 除稅前溢利
本集團已扣除下列各項的除稅前溢利：
Unaudited
未經審核
Six months ended 30 September
截至九月三十日止六個月
2020 2019
二零二零年二零一九年
HK$』000 HK$』000
千港元千港元
Contract costs合約成本
1,392,804 498,984
Depreciation of owned assets自置資產的折舊
298 1,136
Depreciation of right-of-use assets使用權資產的折舊
20,041 13,637
Employee benefit expenses 僱員福利開支（不包括董事酬金）
(exclusive of directors』 remuneration)95,475 83,831
Directors』 remuneration董事酬金
9,169 27,090
7. INCOME TAX 7. 所得稅
Unaudited
未經審核
Six months ended 30 September
截至九月三十日止六個月
2020 2019
二零二零年二零一九年
HK$』000 HK$』000
千港元千港元
Current – Hong Kong:即期－香港：
Charge for the period期間費用
1,105 19,233
Pursuant to the rules and regulations of the Cayman 根據開曼群島及英屬維京群島的規則及規
Islands and the BVI, the Group is not subject to any 例，本集團於開曼群島及英屬維京群島毋
income tax in the Cayman Islands and the BVI. Hong 須繳納任何所得稅。香港利得稅乃根據本
Kong profits tax has been provided at the rate of 16.5% 期間在香港產生的估計應課稅溢利按稅率
(six months ended 30 September 2019: 16.5%) on the 16.5%（於截至二零一九年九月三十日止六個
estimated assessable profits arising in Hong Kong during 月：16.5%）作出撥備。
this period.
8. DIVIDEND 8. 股息
During the six months ended 30 September 2020, the 於截至二零二零年九月三十日止六個月，
Board did not recommend the payment of any final 董事會不宣派及支付截至二零二零年三月
dividend for the year ended 31 March 2020 (six months 三十一日止年度的末期股息（於截至二零
ended 30 September 2019: HK$0.04 per share, a total 一九年九月三十日止六個月：每股
0.04港
amount of HK$80,000,000). 元，總金額為80,000,000港元）。
The Board also resolved not to declare the payment of an 董事會亦決議不宣派截至二零二零年九月
interim dividend for the six months ended 30 September 三十日止六個月的中期股息（截至二零一九
2020 (six months ended 30 September 2019: nil). 年九月三十日止六個月：無）。
9.
EARNINGS PER SHARE ATTRIBUTABLE
TO ORDINARY EQUITY HOLDERS OF THE
PARENT
The calculation of the basic earnings per share amounts
is based on the profit for the period ended 30 September
2020 and 2019 attributable to ordinary equity holders of
the parent and the weighted average number of ordinary
shares of 2,000,000,000 in issue during the period ended 30
September 2020 and 2019.
The Group had no potential dilutive ordinary shares in
issue during the period ended 30 September 2020 and
2019.
10. PROPERTY, PLANT AND EQUIPMENT
The Group has entered into new lease agreements during
the six months ended 30 September 2020. Right-of-use
assets amounted to HK$35,057,000 (six months ended 30
September 2019: HK$13,743,000) have been recognised
accordingly.
During the six months ended 30 September 2020, the
Group incurred HK$2,541,000 on the additions of items of
property, plant and equipment.
Items of property, plant and equipment with net book
value of nil was disposed by the Group during the six
months ended 30 September 2020, resulting in a gain on
disposal of HK$20,000 (30 September 2019: no item of
property, plant and equipment was disposed).
9.
母公司普通權益持有者應佔每股盈
利
每股基本盈利金額乃根據母公司普通權益持
有者應佔於截至二零二零年及二零一九年九
月三十日止期間溢利及於截至二零二零年
及二零一九年九月三十日止期間已發行的
2,000,000,000股普通股的加權平均數計算。
本集團於截至二零二零年及二零一九年九月
三十日止期間並無潛在攤薄已發行普通股。
10. 物業、機器及設備
於截至二零二零年九月三十日止六個月，本
集團已訂立新的租賃協議。據此已確認使用
權資產為35,057,000港元（於截至二零一九年
九月三十日止六個月：13,743,000港元）。
於截至二零二零年九月三十日止六個月，本
集團於物業、機器及設備項目增加2,541,000
港元。
於截至二零二零年九月三十日止六個月，本
集團出售物業、機器和設備資產項目，其賬
面凈值為零港元，出售項目導致的收益為
20,000港元（二零一九年九月三十日：沒有出
售物業、機器和設備項目）。
11. ACCOUNTS RECEIVABLE
Accounts receivable represented receivables for contract
works. The payment terms of contract works receivables
are stipulated in the relevant contracts and the payments
are normally due within 60 days from the date of issuance
of the payment certificate.
The Group assigned its financial benefits under certain
contract works to secure certain general banking facilities
granted to the Group. As at 30 September 2020, the
aggregate amount of accounts receivable related to
such contract works pledged to secure the relevant
banking facilities was HK$164,680,000 (31 March 2020:
HK$130,653,000).
An ageing analysis of the Group’s accounts receivable as
at the end of the reporting period, based on the payment
certificate date, is as follow:
11. 應收賬款
應收賬款指合約工程應收款項。合約工程應
收款項的支付條款於有關合約訂明，而付款
通常於發出付款證明書日期起60日內到期。
本集團出讓其於若干合約工程的財務利益，
以擔保授予本集團的若干一般銀行融資。於
二零二零年九月三十日，與相關合約工程有
關而予以抵押作為有關銀行融資擔保的應收
賬款總值為164,680,000港元（於二零二零年
三月三十一日：130,653,000港元）。
於報告期末，應收賬款按付款證明書日期的
賬齡分析如下：
Unaudited
未經審核
30 September
2020
二零二零年
九月三十日
HK$』000
千港元
Audited
經審核
31 March
2020
二零二零年
三月三十一日
HK$』000
千港元
Current to three monthsFour to six monthsOver six months
即期至三個月
四至六個月
超過六個月
316,377
1,323
13,089
192,395
–
8,877
330,789 201,272
12. ACCOUNTS PAYABLE 12. 應付賬款
An ageing analysis of the Group’s accounts payable as at 於報告期末，按發票日期或付款證明書日期
the end of the reporting period, based on the invoice date 的應付賬款賬齡分析如下：
or the payment certificate date, is as follows:
Unaudited
未經審核
30 September
2020
二零二零年
九月三十日
HK$』000
千港元
Audited
經審核
31 March
2020
二零二零年
三月三十一日
HK$』000
千港元
Current to three monthsFour to six monthsOver six months
即期至三個月
四至六個月
超過六個月
290,525
17,286
182,845
131,069
34,940
148,927
490,656 314,936
At 30 September 2020, retentions payable included in
accounts payable amounted to HK$155,441,000 (31 March
2020: HK$144,927,000), which are non-interest-bearing
and normally settled within terms ranging from one to four
years.
Other than retention payables, accounts payable are noninterest-
bearing and are normally settled within 60 days
from the date of invoice or payment certificate date.
於二零二零年九月三十日，應付賬款包含應
付保證金155,441,000港元（於二零二零年三
月三十一日：
144,927,000港元），其為不計
息及一般結算期為一至四年。
除應付保證金外，應付賬款並為不計息及一
般自發票日期或付款證明書日期起60天內清
償。
13. SHARE CAPITAL 13. 股本
Shares Unaudited Audited
股份未經審核經審核
30 September 31 March
2020 2020
二零二零年二零二零年
九月三十日三月三十一日
HK$』000 HK$』000
千港元千港元
Authorised:法定：
10,000,000,000 (31 March 2020: 10,000,000,000股（於二零二零年
10,000,000,000) ordinary shares of 三月三十一日：10,000,000,000股）
HK$0.01 each 每股面值0.01港元的普通股
100,000 100,000
Issued and fully paid:已發行及繳足：
2,000,000,000 (31 March 2020: 2,000,000,000股（於二零二零年
2,000,000,000) ordinary shares of 三月三十一日：2,000,000,000股）
HK$0.01 each 每股面值0.01港元的普通股
20,000 20,000
There was no movement in the Company’s share capital
during the period ended 30 September 2020.
Share options
Details of the Company’s share option schemes are
included in note 14 to the unaudited condensed
consolidated interim financial information.
於截至二零二零年九月三十日止期間，本公
司的股本概無變動。
購股權
有關本公司購股權計劃的詳情載於未經審核
簡明綜合中期財務資料附註14。
14. SHARE OPTION SCHEME
Pursuant to a resolution of the shareholders of the
Company passed on 31 August 2018, the Company has
adopted a share option scheme (the 「Scheme」) for the
purpose of providing incentives and rewards to eligible
participants who contribute to the success of the Group’s
operations. Eligible participants of the Scheme include any
directors (including executive directors, non-executive
directors and independent non-executive directors) and
full-time employees of any member of the Group and the
Remaining Vantage Group. The Scheme became effective
on 31 August 2018 and, unless otherwise cancelled or
amended, will remain in force for 10 years from that date.
Pursuant to the Scheme and subject to shareholders』
approval, the maximum number of shares in respect of
which options may be granted under the Scheme is such
a number of shares representing 10% of the issued share
capital of the Company at the date of the shareholders』
approval (excluding for this purpose any share options
which have been previously granted (including those
outstanding, cancelled, lapsed or exercised) pursuant to
the Scheme and any other scheme).
The maximum number of unexercised share options
currently permitted to be granted under the Scheme is
an amount equivalent, upon their exercise, to 10% of the
total number of shares of the Company in issue as at the
date when the Scheme was approved by the shareholders of
the Company in a general meeting. The maximum number
of shares issuable under share options to each eligible
participant in the Scheme within any 12-month period
is limited to 1% of the shares of the Company in issue at
any time. Any further grant of share options in excess of
this limit is subject to shareholders』 approval in a general
meeting.
14. 購股權計劃
根據本公司股東於二零一八年八月三十一日
通過的決議案，本公司已採納購股權計劃
（「該計劃」），以提供獎勵及獎賞予對本集團
成功經營作出貢獻的合資格參與人士。該計
劃的合資格參與人士包括任何董事（包括執
行董事、非執行董事及獨立非執行董事）及
本集團及餘下盈信集團任何成員公司的全職
僱員。該計劃已於二零一八年八月三十一日
生效，除另有註銷或修訂者外，將於該日期
起計十年內持續生效。根據該計劃並視乎股
東批准而定，就根據該計劃可能授出購股權
的股份數目上限為佔本公司於股東批准當日
的已發行股本10%的該等股份數目（就此目
的不包括根據該計劃及任何其他計劃於先前
已授出的任何購股權（包括尚未行使、已註
銷、已失效或已行使的購股權））。
現時獲準根據該計劃予以授出且並未獲行使
購股權的數目上限相等於（於行使後）本公司
於該計劃由本公司股東於股東大會上批准當
日已發行股份總數的10%。於任何12個月期
間，根據授予該計劃每名合資格參與人士的
購股權可發行股份數目上限乃限於本公司於
任何時間已發行股份的1%。任何進一步授出
超過此限額的購股權須獲股東於股東大會上
批准。
14. SHARE OPTION SCHEME (continued)
Share options granted to Directors, officer or substantial
shareholder of the Company, or to any of their associates,
are subject to approval in advance by the independent
non-executive Directors. In addition, any share options
granted to a substantial shareholder or an independent
non-executive Director of the Company, or to any of their
associates, in excess of 0.1% of the shares of the Company
in issue at any time and with an aggregate value (based on
the price of the Company’s shares at the date of grant) in
excess of HK$5 million, within any 12-month period, are
subject to shareholders』 approval in advance in a general
meeting.
The offer of a grant of share options may be accepted
within 14 days from the date of offer, upon payment of a
nominal consideration of HK$1 in total by the grantee.
The exercise period of the share options granted is
determinable by the Board and ends on a date which is
not later than 10 years from the date of offer of the share
options.
The exercise price of the share options is determinable by
the Board, but should not be less than the highest of (i)
the closing price of the shares of the Company as stated in
the Stock Exchange daily quotation sheet on the date of
grant of the share options; (ii) the average closing price of
the shares of the Company as stated in the Stock Exchange
for the five trading days immediately preceding the date of
the offer; and (iii) the nominal value of the shares of the
Company.
Share options do not confer rights on the holders to
dividends or to vote at shareholders』 meetings.
No option was granted from the date of adoption of the
Scheme up to the date of approval of this unaudited
condensed consolidated interim financial information.
14. 購股權計劃（續）
授予本公司董事、高級職員或主要股東（或
任何彼等的聯繫人）的購股權須事先獲獨立
非執行董事批准。此外，於任何12個月期間
內，任何授予本公司主要股東或獨立非執行
董事（或任何彼等的聯繫人）的任何購股權超
過本公司於任何時間已發行股份的0.1%及總
值（以本公司股份於授出日期的價格為準）超
過5百萬港元，須事先獲股東於股東大會上
批准。
承授人須支付總計
1港元的名義代價後，授
出購股權的要約可於要約日期起14天內獲接
納。授出的購股權的行使期由董事會釐定，
並不遲於購股權要約日期起計10年的日期結
束。
購股權的行使價由董事會釐定，惟不得低於
以下最高者
(i)本公司股份於購股權授出日期
於聯交所日報表所報收市價；(ii)本公司股份
於緊接要約日期前五個交易日於聯交所報平
均收市價；及(iii)本公司股份的面值。
購股權並無賦予持有人收取股息或於股東大
會上投票的權利。
自該計劃採納日期起至批准此未經審核簡明
綜合中期財務資料當日，並無授出任何購股
權。
15. CONTINGENT LIABILITIES 15. 或然負債
(a) Guarantees (a) 擔保
At 30 September 2020, the guarantees given by the 於二零二零年九月三十日，本集團就
Group to certain banks in respect of performance 給予合約工程的若干客戶履約保證金
bonds in favour of certain customers of contract 而給予若干銀行的擔保為324,297,000works amounted to HK$324,297,000 (31 March 2020: 港元（於二零二零年三月三十一日：
HK$201,348,000). 201,348,000港元）。
(b) Claims (b) 索償
(i) Personal injuries (i) 人身意外
In the ordinary course of the Group’s 在本集團的日常建造業務過程中，
construction business, the Group has been 本集團或本集團分判商的僱員因受
subject to a number of claims due to personal 僱期間遭遇意外以致受傷而向本集
injuries suffered by employees of the Group or the 團索償。董事認為有關索償屬於保
Group’s sub-contractors in accidents arising out 險的受保範圍，故有關索償不會對
of and in the course of their employment. The 本集團的財政狀況或業績及經營業
Directors are of the opinion that such claims are 務構成任何重大負面影響。
well covered by insurance and would not result
in any material adverse impact on the financial
position or results and operations of the Group.
(ii) Sub-contractors』 claims (ii) 分判商索償
In the ordinary course of the Group’s 在本集團的日常建造業務過程中，
construction business, the Group has been 分判商不時向本集團提出各種索
subject to various claims from sub-contractors 償。當管理層作出評估並能合理估
from time to time. Provision would be made for 計索償的可能結果時，將預提索償
claims when the management assessed and can 金額。如果無法合理估算索償金額
reasonably estimate the probable outcome of the 或管理層相信損失的可能性很小，
claims. No provision would be made for claims 則不會預提索償金額。
when the claims cannot be reasonably estimated
or management believes that the probability of
loss is remote.
16. CAPITAL COMMITMENTS 16. 資本承擔
The Group had the following capital commitments at the 本集團於報告期末的資本承擔如下：
end of the reporting period:
Unaudited Audited
未經審核經審核
30 September 31 March
2020 2020
二零二零年二零二零年
九月三十日三月三十一日
HK$』000 HK$』000
千港元千港元
Contracted, but not provided for:已訂約但未撥備：
Building樓宇
– 1,904
17. RELATED PARTY TRANSACTIONS
(a) Related party transactions
In addition to the transactions and balances detailed
elsewhere in this unaudited condensed consolidated
interim financial information, the Group had the
following transactions with a related party during the
period:
17. 關連方交易
(a) 關連方交易
除於本未經審核簡明綜合中期財務資料
其他部分所詳述的該等交易及結餘外，
本集團於本期間內曾與關連方進行下列
交易：
Unaudited
未經審核
Six months ended 30 September
截至九月三十日止六個月
2020 2019
二零二零年二零一九年
HK$』000 HK$』000
千港元千港元
Rental payment to the Remaining 向餘下盈信集團支付的租金（附註）
Vantage Group (note)1,404 1,376
Note: The transactions were conducted on terms and conditions 附註：該等交易乃按相關訂約方互相協定
mutually agreed between the relevant parties. 的條款及條件進行。
The Directors are of the opinion that those related 董事認為，該等關連方交易乃於本集團
party transactions were conducted in the ordinary 日常業務過程中進行。
course of business of the Group.
17. RELATED PARTY TRANSACTIONS (continued) 17. 關連方交易（續）
(b) Compensation of key management personnel (b) 本集團主要管理人員（不包括董事）的
(excluding the Directors) of the Group 補償
Unaudited
未經審核
Six months ended 30 September
截至九月三十日止六個月
2020
二零二零年
HK$』000
千港元
2019
二零一九年
HK$』000
千港元
Short-term employee benefitsPost-employment benefits
短期僱員福利
離職後福利
13,267
47
4,654
45
Total compensation paid to
key management personnel
支付予主要管理人員的總補償
13,314 4,699
18. FINANCIAL RISK MANAGEMENT AND FAIR 18. 財務風險管理及公允值計量
VALUE MEASUREMENT
(a) Financial risk management (a) 財務風險管理
The Group’s financial risk management objectives 本集團的財務風險管理目標及政策與本
and policies are the same as those disclosed in the 集團截至二零二零年三月三十一日止年
Group’s audited consolidated financial statements for 度已審核綜合財務報表所載者一致。
the year ended 31 March 2020.
(b) Fair value measurement (b) 公允值計量
Management has assessed that the fair values of cash 管理層已評估現金及現金等值物、應收
and cash equivalents, accounts receivable, contract 賬款、合約資產、計入預付款項、其他
assets, financial assets included in prepayments, 應收款及其他資產的金融資產、應付賬
other receivables and other assets, accounts payable, 款、合約負債、計入其他應付款及應計
contract liabilities, financial liabilities included in 費用的金融負債、應付一間合營企業款
other payables and accruals, an amount due to a joint 項及計息銀行貸款的公平值與其賬面值
venture and interest-bearing bank loans approximate 相若，主要由於該等工具於短期內到
to their carrying amounts largely due to the short term 期。
maturities of these instruments.
The fair values of the financial assets and liabilities 金融資產及負債的公平值以自願交易方
are included at the amount at which the instrument （強迫或清盤出售者除外）當前交易中該
could be exchanged in a current transaction between 工具的可交易金額入賬。
willing parties, other than in a forced or liquidation
sale.
19. EVENTS AFTER THE REPORTING PERIOD
Subsequent to 30 September 2020, the Group accepted a
formal written offer (the 「Offer」), with conditions, from
Lands Department in respect of the proposed modification
of the lease of the site of No. 7 Lai Yip Street, Kwun
Tong, Kowloon, Hong Kong from industrial use to nonresidential
use (the 「Proposed Lease Modification」).
Pursuant to the Offer, the premium of the Proposed Lease
Modification was amounted to HK$554,570,000 and
a deposit of HK$55,457,000 was paid up to the date of
approval of this interim report.
20. APPROVAL OF THE UNAUDITED
CONDENSED CONSOLIDATED INTERIM
FINANCIAL INFORMATION
This unaudited condensed consolidated interim financial
information was approved and authorised for issue by the
Board on 27 November 2020.
19. 報告期後的事件
於二零二零年九月三十日後，本集團已接受
地政總署就有關建議將位於九龍觀塘勵業街
7號的地皮的土地契約由工業用途修訂為非
住宅用途（「該建議契約修訂」）的正式書面要
約（「該要約」）。根據該要約，該建議契約修
訂的地價金額為554,570,000港元及截止批准
本中期報告之日，已支付55,457,000港元的
訂金。
20. 批准未經審核簡明綜合中期財務資
料
此未經審核簡明綜合中期財務資料已於二零
二零年十一月二十七日獲董事會批准及授權
發佈。
RESULTS FOR THE INTERIM PERIOD
During the six months ended 30 September 2020 (「this
period」 or 「current period」), the Group recorded a
consolidated turnover of HK$1,411,491,000 representing
an increase of 119% from HK$644,367,000 of the previous
corresponding period. The Group’s gross profit during this
period was HK$18,687,000 representing a decrease of 87%
from HK$145,383,000 for the six months ended 30 September
2019. Profit attributable to owners of the parent of this period
amounted to HK$1,396,000 (six months ended 30 September
2019: HK$79,557,000). The significant decrease in net
profit was mainly attributable to certain projects were in the
preliminary stage of development and that the actual revenue
certified by the customers was lower than the actual costs
incurred. The basic earnings per share decreased from HK3.98
cents for the six months ended 30 September 2019 to HK0.07
cents for this period.
DIVIDEND
The Board has resolved not to declare the payment of an
interim dividend for this period (six months ended 30
September 2019: nil).
BUSINESS REVIEW
The Group recorded revenue of HK$1,411,491,000 for this
period, representing an increase of 119% from HK$644,367,000
for the six months ended 30 September 2019. The increase
was mainly due to increase in revenue for the current period
from large-scale building construction projects which were
in the preliminary stage of development in comparative last
period. As of 30 September 2020, the estimated total contract
values and estimated total outstanding values of the Group’s
substantial contracts on hand were approximately HK$11,915
million (31 March 2020: approximately HK$7,584 million) and
HK$9,218 million (31 March 2020: approximately HK$6,113
million), respectively. These contracts are expected to be
completed in around one to four years』 time.
The gross profit margin decreased from 23% for the six
months ended 30 September 2019 to 1% for this period. The
decrease was mainly attributable to certain projects were in the
preliminary stage of development and that the actual revenue
certified by the customers was lower than the actual costs
incurred. Under the adoption of HKFRS 15, the gross profit
margins of the Group’s contracts will fluctuate over different
reporting periods, depending on the actual revenue certified
and costs incurred for the construction works performed.
中期業績
於截至二零二零年九月三十日止六個月（「本
期」或「本期間」），本集團錄得的綜合收入為
1,411,491,000港元，較去年同期的
644,367,000
港元上升
119%。本集團於本期間的毛利為
18,687,000港元，較截至二零一九年九月三十日
止六個月的145,383,000港元下跌87%。而本期間
的母公司持有者應佔溢利則為1,396,000港元（於
截至二零一九年九月三十日止六個月：79,557,000
港元）。淨溢利大幅下降主要源於若干工程項目
處於初步發展階段，該等工程項目由其客戶認證
的實際收入較其實際已發生的成本為低。每股基
本盈利由截至二零一九年九月三十日止六個月的
3.98港仙下跌至本期間的0.07港仙。
股息
董事會決議不就本期間宣派任何中期股息（於截至
二零一九年九月三十日止六個月：無）。
業務回顧
本集團於本期間錄得的收入為1,411,491,000港
元，較截至二零一九年九月三十日止六個月的
644,367,000港元上升119%，收入增加主要因為
於同期去年處於初步發展階段的兩項大型樓宇建
造項目於本期間的收入增加。於二零二零年九月
三十日，本集團手頭上的重大合約的估計合約
總值及相關未完成合約的估計總值分別約119.15
億港元（二零二零年三月三十一日：約
75.84億港
元）及
92.18億港元（二零二零年三月三十一日：約
61.13億港元）。預期該等合約將於約一至四年內
完成。
毛利率自截至二零一九年九月三十日止六個月
23%下降至本期間1%。下降主要源於若干工程項
目處於初步發展階段，該等工程項目由其客戶認
證的實際收入較其實際已發生的成本為低。於採
納香港財務報告準則第15號下，本集團合約的毛
利率將視乎已進行建築工程所產生的經核定實際
收入及成本而於不同報告期間有所波動。
During the six months ended 30 September 2020, the following
substantial contracts were awarded to the Group with estimated
shared contract value of approximately HK$4,591 million:
.
Main Works for Development of Cingleot Premium
Logistics Centre at Kwo Lo Wan of Hong Kong
International Airport, a project with a contract sum of
HK$5,638 million was awarded to BUILD KING – ABLE
JOINT VENTURE, an unincorporated body which 49%
interest of this joint operation is attributable to the Group
.
Design and Construction of Joint-user Government Office
Building Are 67, Tseung Kwan O, a project with a contract
sum of HK$3,587 million was awarded to ABLE – PAUL
Y. JOINT VENTURE, an unincorporated body which 51%
interest of this joint operation is attributable to the Group
We expected to incur much upfront cost for the above newly
awarded projects and projects which are still in the preliminary
stage of development in the second half of the year, which
may have negative impact on our financial performance in the
second half of the year.
On the other hand, the Group has completed the following
significant contract regarding building maintenance works
during the six months ended 30 September 2020:
.
Hospital Authority Term Contract for Gascoigne Road
Site of Minor Capital Project 15/16
Other Income and Gains
Other income and gains increased from HK$8,638,000 for the
six months ended 30 September 2019 to HK$14,327,000 for
this period. The increase in the other income and gain was
mainly due to the Group applied and recognised government
subsidies of HK$9,443,000 under the 「Employment Support
Scheme」 provided by the Government of the Hong Kong
Special Administrative Region (「HKSAR Government」)
during the period.
於截至二零二零年九月三十日止六個月，本集團
取得以下重大合約，預計可佔其合約價值約45.91
億港元：
.
香港國際機場過路灣高端物流中心發展工
程－主要工程，此項目由利基
–安保聯合體
（並非屬法團的團體）承建，合約總值56.38億
港元，本集團佔該共同經營的49%權益
.
設計及建造位於將軍澳第67區的政府聯用辦
公大樓，此項目由安保–保華聯合體（並非屬
法團的團體）承建，合約總值
35.87億港元，
本集團佔該共同經營的51%權益
我們預期於下半年就上述新獲取的工程及仍處於
初步發展階段的工程將產生更多前期成本，因此
對我們下半年的財務表現可能造成負面影響。
本集團於截至二零二零年九月三十日止六個月已
完成以下重大樓宇維修工程合約：
.
醫院管理局加士居道地盤的小型工程定期合
約15╱16
其他收入及收益
其他收入及收益由截至二零一九年九月三十
日止六個月的
8,638,000港元上升至本期間的
14,327,000港元。其他收入及收益上升主要由於
本集團於本期間申請並確認由香港特別行政區政
府（「特區政府」）提供的「保就業」計劃的政府補助
金9,443,000港元。
Administrative Expenses
Administrative expenses decreased by HK$31,804,000 from
HK$57,786,000 for the six months ended 30 September
2019 to HK$25,982,000 for this period. The decrease in the
administrative expenses were mainly due to (i) decrease in the
discretionary performance-related bonuses and donations; (ii)
three out of five executive directors were fully engaged in the
project management that their respective remunerations were
included in the contract costs for this period; and (iii) following
the decision of the Board to demolish Man Shung Industrial
Building (the 「Man Shung Building」) for the redevelopment
as further mentioned in the section of 「REDEVELOPMENT
OF NO.7 LAI YIP STREET」, the relevant consultancy fee and
demolition cost incurred during the period were capitalised as
the cost of the new building.
Finance Costs
For this period, the Group’s finance costs were HK$3,957,000
(six months ended 30 September 2019: HK$358,000). The
interest for bank loans increased by HK$3,295,000 in this
period due to the increase in bank loans raised during this
period comparing with the same period of last year. On the
other hand, interest on lease liabilities of HK$449,000 (six
months ended 30 September 2019: HK$145,000) was incurred
and recorded under this item in accordance with HKFRS 16.
Share of Profits and Losses of Joint Ventures
The share of loss of joint ventures for the six months ended
30 September 2020 of HK$574,000 (six months ended 30
September 2019: profit of HK$2,913,000) was solely arisen
from the share of profits and losses of Gold Victory Resources
Inc. and its subsidiaries, in which the Group has 50% interest.
Income Tax Expense
Income tax expense decreased by 94% from HK$19,233,000 for
the six months ended 30 September 2019 to HK$1,105,000 for
this period as a result of the decrease in taxable profit for this
period.
Profit Attributable to Owners of the Parent
As a result of the foregoing, profit attributable to owners of
the parent decreased by 98% from HK$79,557,000 for the six
months ended 30 September 2019 to HK$1,396,000 for this
period.
行政開支
行政開支由截至二零一九年九月三十日止六個月
的57,786,000港元減少31,804,000港元至本期間的
25,982,000港元。行政開支減少的主要由於
(i)酌
情表現花紅及捐款減少；
(ii)五分之三的執行董事
全面參與項目管理，因此彼等薪酬已列入本期間
的合同費用；及
(iii)在董事會決定拆卸萬順工程
大廈（「萬順大廈」）進行重新發展後（於「重新發展
勵業街7號」一節進一步詳述），於本期間的相關顧
問費用及拆卸費用已被資本作為新大廈的成本。
財務費用
於本期間，本集團的財務費用為
3,957,000港
元（於截至二零一九年九月三十日止六個月：
358,000港元）。銀行貸款利息於本期間上升
3,295,000港元，原因是本期間提取的銀行貸款
較去年同期有所增加。另一方面，按香港財務報
告準則第16號產生及錄得的租賃負債的利息為
449,000港元（於截至二零一九年九月三十日止六
個月：145,000港元）。
應佔合營企業損益
於截至二零二零年九月三十日止六個月，應佔合
營企業的損失574,000港元（於截至二零一九年九
月三十日止六個月：溢利
2,913,000港元）完成來
自本集團擁有50%權益的Gold Victory Resources
Inc.及其附屬公司的損益。
所得稅開支
所得稅開支由截至二零一九年九月三十日止
期間的
19,233,000港元，減少
94%至本期間的
1,105,000港元。跌幅與本期間的應課稅溢利的減
少一致。
母公司持有者應佔溢利
鑒於上述因素，母公司持有者應佔溢利由截至
二零二零年九月三十日止六個月的79,557,000港
元，減少98%至本期間的1,396,000港元。
FINANCIAL REVIEW
Capital Structure, Liquidity and Financial Resources
The capital of the Group only comprises ordinary shares.
The total equity of the Group as at 30 September 2020 was
HK$1,256,239,000 (31 March 2020: HK$1,254,843,000).
The Group monitors capital structure by using gearing ratio,
which is measured as interest-bearing bank loans, divided by
equity attributable to owners of the parent. As at 30 September
2020, the Group’s gearing ratio was 21% (31 March 2020:
10%).
The Group’s cash and cash equivalents increased by 18% from
HK$616,645,000 as at 31 March 2020 to HK$724,966,000 at
current period end was mainly due to net effect of (i) increase
in net borrowing; (ii) the net cash outflows from operating
activities; and (iii) payment of demolition costs of the Man
Shung Building. Current ratio stood at 1.64 and 1.84 at 30
September 2020 and 31 March 2020, respectively. Current
ratio is measured at total current assets divided by total current
liabilities.
The Group’s banking facilities, comprising primarily bank
loans, bank overdrafts and performance bond, amounted to
HK$1,990,000,000 as of 30 September 2020 (31 March 2020:
HK$2,040,000,000), of which HK$1,399,022,000 (31 March
2020: HK$1,717,135,000) was unutilised.
Looking forward, due to (i) the new substantial projects
awarded to the joint operations in which a subsidiary of
the Group is a joint operator are in the preliminary stage of
development; and (ii) the redevelopment of the site of No.7
Lai Yip Street, Kwun Tong, Kowloon, Hong Kong (the 「Site」),
it is expected significant amount of cash will be consumed in
the coming six months. The Group will continuously takes
a prudent and cautious approach to cash application and its
capital commitments.
財務回顧
資本架構、流動資金及財務資源
本集團的資本僅由普通股組成。本集團於二零二
零年九月三十日的權益總額為
1,256,239,000港元
（二零二零年三月三十一日：1,254,843,000港元）。
本集團根據槓桿比率來監察資本架構。而槓桿比
率以計息銀行貸款總額，除以母公司權益持有者
應佔權益計算。於二零二零年九月三十日，本集
團的槓桿比率為21%（於二零二零年三月三十一
日：10%）。
本集團的現金及現金等值物由二零二零年三月
三十一日的616,645,000港元上升18%至於二零二
零年九月三十日的724,966,000港元，主要由於(i)
銀行貸款淨增加；
(ii)經營業務產生的淨現金流
出；及
(iii)年內支付萬順大廈的拆卸工程費用的
綜合影響。本集團於二零二零年九月三十日的流
動比率為1.64，而於二零二零年三月三十一日則
為1.84。流動比率以流動資產總值除以流動負債
總值計量。
本集團的銀行信貸主要包括銀行貸款、銀行透支
及履約擔保，於二零二零年九月三十日的額度為
1,990,000,000港元（於二零二零年三月三十一日：
2,040,000,000港元），其中
1,399,022,000港元（於
二零二零年三月三十一日：
1,717,135,000港元）尚
未動用。
展望未來，由於(i)本集團的一間附屬公司作為合
營方的合營業務的重大新項目仍處於初步發展階
段；及
(ii)重新發展位於香港九龍觀塘勵業街7號
的地皮（「該地皮」），預計未來六個月內，將耗用
大量資金。本集團將繼續持審慎和謹慎的態度以
運用資金及作資本承擔。
Interest and Foreign Exchange Exposure
At 30 September 2020 and 31 March 2020, the Group’s bank
loans were all denominated in Hong Kong dollars and on a
floating rate basis. The Group’s bank accounts were operated
with principal bankers in Hong Kong. The interest rates
of these bank accounts are determined by reference to the
respective bank’s offer rate.
The Group’s business operations are in Hong Kong and the
Group’s business transactions are denominated in the local
currencies. Hence, the Group is not exposed to significant
foreign exchange risk.
For the six months ended 30 September 2020 and 30 September
2019, the Group did not engage in any interest rates and
currency speculation activities.
Property, plant and equipment
The Group’s property, plant and equipment amounted to
HK$635,771,000 as of 30 September 2020 (31 March 2020:
HK$618,512,000). The increase was due to the net effect of
(i) the additions to right-of-use assets and property, plant and
equipment of total HK$37,598,000; and (ii) the depreciation of
HK$20,339,000 provided during the period.
Accounts Receivable
The Group’s accounts receivable represented the receivables
for contract works in relation to completed and on-going
contract works projects. Accounts receivable represents
progress billing of work performed and the progress payment
certificates issued by and received from customers. The level
of accounts receivable is principally affected by our work
progress and the amount of the progress payment certificate
received from customers before the end of the reporting
period. Approximately 95% of the accounts receivable as
at 30 September 2020 was subsequently settled as at 15
November 2020 (30 September 2019: approximately 88% was
subsequently settled by 15 November 2019).
利率及外幣匯兌風險
於二零二零年九月三十日及二零二零年三月
三十一日，本集團的銀行貸款均以港元計值，並
按浮動利率計算利息。本集團的銀行賬戶在香港
主要銀行開設，相關銀行賬戶的利率由有關銀行
拆放利率而釐定。
本集團的業務經營位於香港，而本集團業務交易
均以當地貨幣計值。因此，本集團並無面臨重大
外匯風險。
於截至二零二零年九月三十日及二零一九年九月
三十日止的六個月內，本集團並無從事任何利率
及貨幣對沖或投機活動。
物業、機器及設備
本集團的物業、機器及設備於二零二零年九月
三十日為635,771,000港元（於二零二零年三月
三十一日：
618,512,000港元）。上升由於
(i)本
期內增加使用權資產及物業、機器及設備合共
37,598,000港元；及
(ii)折舊20,339,000港元的綜
合影響。
應收賬款
本集團的應收賬款為有關已完成及在建合約工程
項目的合約工程應收款。應收賬款為進行工程的
進度款項及來自客戶發出及取得的階段付款證明
書。應收賬款水平主要受於報告期末前的工程進
度及截至財政年度止來自客戶取得的分階段付款
證明書中的金額所影響。於二零二零年九月三十
日的應收賬款中，約95%已於其後於二零二零年
十一月十五日或以前收回（於二零一九年九月三十
日：約
88%已於二零一九年十一月十五日或以前
收回）。
Contract Assets
Balance at current period end mainly represented
retention receivables of HK$171,667,000 (31 March 2020:
HK$168,307,000) and unbilled revenue of HK$20,171,000 (31
March 2020: HK$50,538,000). Retention receivables represent
the retention monies required by our customers to secure our
Group’s due performance of the contracts.
Contract Liabilities
Balance at current period end represented the advance payment
received from a project of HK$30,000,000 (31 March 2020:
nil). This item will be recognised as revenue when the Group
performs under the contract.
Other Payables and Accruals
As of 30 September 2020, the current and non-current balances
of other payable and accruals amounted to HK$65,259,000
(31 March 2020: HK$222,234,000) and HK$18,260,000 (31
March 2020: HK$6,716,000), respectively, which mainly
represented provision for contract works, staff costs payable
and lease liabilities recognised. The decrease in total balance
during the period was mainly due to the net effect of (i) the
decrease in provision for contract works of HK$183,616,000;
and (ii) the increase in the recognition of lease liabilities of
HK$28,043,000.
合約資產
本期末餘額主要為應收保證金171,667,000港元
（於二零二零年三月三十一日：
168,307,000港元）
及未發出付款證明書的收入20,171,000港元（於二
零二零年三月三十一日：
50,538,000港元）。應收
保證金指客戶為確保本集團按合約如期完工所需
的保留金。
合約負債
本期末餘額為自一項工程收到的預付款
30,000,000港元（於二零二零年三月三十一日：
無）。當本集團根據合約履約時，該項目將確認為
收入。
其他應付款及預提費用
於二零二零年九月三十日，其他應付款及應計
費用的流動及非流動部份餘額分別65,259,000港
元（於二零二零年三月三十一日：
222,234,000港
元）及
18,260,000港元（於二零二零年三月三十一
日：6,716,000港元），其主要為合約工程的撥
備、應付員工費用及已確認的租賃負債。本期間
末的總結餘減少主要由於(i)合約工程的撥備下跌
183,616,000港元；及
(ii)增加已確認的租賃負債
28,043,000港元的綜合影響。
Charges on Assets
As at 30 September 2020, the accounts receivable, unbilled
revenue and retention receivables related to certain contract
works of HK$164,680,000 (31 March 2020: HK$130,653,000),
HK$15,356,000 (31 March 2020: HK$43,824,000) and
HK$127,321,000 (31 March 2020: HK$103,575,000),
respectively, were pledged in favour of certain banks to secure
certain bank loans and banking facilities granted by those banks
to the Group.
As at 30 September 2020, bank deposit of HK$110,000,000
(31 March 2020: HK$110,000,000) was pledged to secure
a guarantee deposit for the performance bond issued by the
relevant bank in relation to a construction project of the Group
and the Group’s bank loans with an aggregate carrying amount
of HK$266,681,000 (31 March 2020: HK$121,517,000) were
secured by certain deposits accounts maintained with the
relevant banks as continuing security for the obligation of the
Group.
Contingent Liabilities
Details of the Group’s contingent liabilities are set out in note
15 to the unaudited condensed consolidated interim financial
information.
Capital Commitments
Details of the Group’s capital commitments are set out in note
16 to the unaudited condensed consolidated interim financial
information.
資產抵押
於二零二零年九月三十日，若干合約工程有關的
應收賬款、未發出付款證明書的收入及應收保
證金分別為164,680,000港元（於二零二零年三月
三十一日：
130,653,000港元）、
15,356,000港元
（於二零二零年三月三十一日：43,824,000港元）及
127,321,000港元（於二零二零年三月三十一日：
103,575,000港元）已抵押予若干銀行以擔保該等
銀行授予本集團的若干銀行貸款及銀行信貸。
於二零二零年九月三十日，銀行存款總值
110,000,000港元（於二零二零年三月三十一日：
110,000,000港元）存放於相關銀行作為該銀行就
本集團一項建築工程項目開出的履約保證金的保
證存款及本集團的銀行貸款總值266,681,000港元
（於二零二零年三月三十一日：
121,517,000港元）
以本集團於相關銀行持有的若干存款戶口作為本
集團的責任的持續抵押品。
或然負債
本集團的或然負債的詳情載於未經審核簡明綜合
中期財務資料附註15。
資本承擔
本集團的資本承擔的詳情載於未經審核簡明綜合
中期財務資料附註16。
REDEVELOPMENT OF NO.7 LAI YIP STREET
As disclosed in the joint announcement of the Company and
Vantage dated 7 January 2020 and the annual report of the
Company for the year ended 31 March 2020, Bright Wind
Limited (「Bright Wind」, an indirect wholly-owned subsidiary
of the Company) received the formal written approval and
permission, with conditions, given by the Town Planning
Board in respect of its application for the minor relaxation
of plot ratio and building height restrictions of the Site.
Considered the conditions and facilities of the Man Shung
Building located at the Site, the Board decided to redevelop the
Site and the demolition works of the Man Shung Building were
completed in July 2020.
Further disclosed in the announcement of Company dated
10 November 2020, Bright Wind received a formal written
offer (the 「Offer」), with conditions, from Lands Department
(「LandsD」) in respect of its proposed modification of the
lease of the Site from industrial use to non-residential use (the
「Proposed Lease Modification」). Pursuant to the Offer, the
premium of the Proposed Lease Modification was amounted
to HK$554,570,000 (the 「Premium」) and the Site could be
redeveloped for non-residential use that the total gross floor
area of the non-residential building to be erected shall not
exceed 14,775 square meters. The redevelopment of the Site
could provide more flexibility to the Group for its future
development with an option to lease out surplus space of the
building, if any.
As at the date of this interim report, Bright Wind accepted
the Offer and a deposit equals to 10% of the Premium was paid
to the LandsD. Further announcement(s) in relation to the
redevelopment of the Site will be made by the Company as and
when appropriate in accordance with the Listing Rules.
重新發展勵業街7號
誠如本公司與盈信於日期為二零二零年一月七日
的聯合公告及本公司截止二零二零年三月三十一
日止年度的年報所披露，晴風有限公司（「晴
風」），本公司的一間間接持有的全資附屬公司）
已接獲城市規劃委員會對就該地皮要求略為放寬
該地皮的地積比率和建築物高度限制的申請而發
出的正式書面批准及有條件的許可。考慮到位於
該地皮的萬順的條件和設施，董事會已決定拆卸
萬順大廈進行重新發展，而拆卸萬順大廈的工程
已於二零二零年七月完成。
本公司於日期為二零二零年十一月十日的公告進
一步披露，晴風已接獲地政總署（「地政署」）就有
關其建議將該地皮的土地契約由工業用途修訂為
非住宅用途（「該建議契約修訂」）的正式書面要約
（「該要約」）。根據該要約，該建議契約修訂的地
價金額為554,570,000港元（「地價」），該地皮將可
發展為非住宅用途，所建的非住宅大廈的總樓面
面積將不超過14,775平方米。重新發展該地皮可
為本集團未來的發展提供更大的靈活性，並可選
擇出租大廈的剩餘空間（如有）。
於本中期報告之日，晴風已接受該要約，並已向
地政署支付相當於地價的10%作為訂金。本公司
將適時根據上市規則就重新發展該地皮刊發進一
步公告。
POSSIBLE ACQUISITION
As disclosed in the joint announcement of the Company
and Vantage dated 9 July 2019, Rhythm Classic Limited
(the 「Purchaser」, an indirect wholly-owned subsidiary of
the Company) entered into a framework agreement on 9 July
2019 (the 「Framework Agreement」) with an independent
third party (「Vendor」) for the possible acquisition of 100%
of the equity interest of a Hong Kong company (the 「Target
Company」) and 100% of the interest-free shareholder loan
(if any) advanced by the Vendor to the Target Company
at a consideration of HK$130,000,000 (the 「Possible
Acquisition」). Pursuant to the Framework Agreement, the
Possible Acquisition is conditional upon, among others,
the fulfilment of the conditions as stated in the Framework
Agreement (the 「Conditions Precedent」) within 180 days
from the date of signing of the Framework Agreement, or such
other period as duly agreed by both parties in writing (the
「Agreement Valid Period」).
The Agreement Valid Period was extended to 2 July 2020 (or
such other period as duly agreed by both parties in writing) (the
「Extended Agreement Valid Period」) as further disclosed in
the other joint announcement of the Company and Vantage
dated 2 January 2020.
Given that the Conditions Precedent were not fulfilled or
waived by the Purchaser within the Extended Agreement Valid
Period and no further agreement was entered into between the
Purchaser and the Vendor, the Company and Vantage jointly
announced on 3 July 2020 that the Framework Agreement
was lapsed after the end of the Extended Agreement Valid
Period on 2 July 2020 pursuant to the terms of the Framework
Agreement. Therefore, the Possible Acquisition constituted
under the Framework Agreement was not proceeded.
可能收購事項
誠如本公司與盈信於日期為二零一九年七月九日
的聯合公告所披露，Rhythm Classic Limited（「買
方」，本公司的一間間接全資附屬公司）與一獨立
第三方（「賣方」）於二零一九年七月九日就可能收
購一間香港公司（「目標公司」）的100%股本權益及
賣方向該目標公司提供的100%免息股東貸款（如
有）的事項訂立框架協議（「框架協議」），代價為
130,000,000港元（「可能收購事項」）。根據框架協
議，可能收購事項須待（其中包括）達成框架協議
所列條件（「先決條件」）後方可作實，而達成先決
條件限期為框架協議簽署日期起180天內（或雙方
經書面協定的其他日期）（「協議有效期」）。
本公司與盈信於日期為二零二零年一月二日的其
他聯合公告進一步披露，該協議有效期延長至二
零二零年七月二日（或雙方經書面協定的其他日
期）（「經延長協議有效期」）。
鑒於先決條件未能於經延長協議有效期內獲達成
或獲買方豁免，且買方與賣方沒有作進一步協
定，本公司與盈信於日期為二零二零年七月三日
的聯合公告再進一步披露，根據框架協議的條
款，框架協議於二零二零年七月二日的經延長協
議有效期完結後已失效。故此，框架協議項下的
可能收購事項並沒有獲進行。
USE OF PROCEEDS FROM THE LISTING 上市所得款項用途
The shares of the Company (the 「Share(s)」) were listed (the 本公司股份（「股份」）於二零一七年二月二十日
「Listing」) on the Main Board of the Stock Exchange on 20 在香港聯合交易所有限公司（「聯交所」）主板上
February 2017 (the 「Listing Date」). Net proceeds from the 市（「上市」）。上市所得款項淨額約為5.24億港元
Listing were approximately HK$524 million (after deducting （經扣除與因本公司股市於聯交所上市而發行的
the underwriting commission and other expenses in relation 500,000,000股普通新股份有關的包銷佣金及其他
to the 500,000,000 new ordinary shares issued pursuant to the 開支）。於本公司截止二零二零年三月三十一日止
listing of Shares on the Stock Exchange). As disclosed in the 年度的年報所披露，所有所得款項淨額結餘已於
annual report of the Company for the year ended 31 March 本期間全部動用（於二零二零年三月三十一日：尚
2020, the balance of net proceeds was fully utilised in the 未動用所得款項淨額約0.82億港元）。
current period (31 March 2020: the unused net proceeds were
approximately HK$82 million).
According to the section 「Future Plans and Proposed Use of 根據本公司日期為二零一七年一月二十六日的招
Proceeds」 as set out in the prospectus of the Company dated 股章程所載「未來計劃及建議所得款項用途」一
26 January 2017, the Group used the net proceeds during six 節，本集團截至二零二零年九月三十日止六個月
months ended 30 September 2020 as follows: 將所得款項淨額用作以下用途：
Unused
Net proceeds Unused Used amount at
from amount at amount in 30 September
the Listing 1 April 2020 this period 2020
於二零二零年於二零二零年
該上市事項四月一日的於本期間內九月三十日的
所得款淨額未動用金額動用的金額未動用金額
HK$』Million HK$』Million HK$』Million HK$』Million
百萬港元百萬港元百萬港元百萬港元
Maintaining and increasing the 維持並增加
employed capital requirement and 未來╱新公營項目的
working capital requirement for 所需資本及
future/new projects in 營運資金需求
the public sector402 82 (82) –
Payment for the upfront costs支付前期成本
70 – – –
General working capital一般營運資金
52 – – –
Total總額
524 82 (82) –
PROSPECTS
With the global outbreak of the Covid-19 (the 「COVID-19」)
since January 2020, the economic activities and people live
around the world were deeply affected as a result of difference
types of lockdowns and social distancing restrictions. During
the past six-month period, we took the necessary measures to
protect the health and safety of our staff and workers in order
to ensure all the current projects of the Group were progressing
well as planned. Further, our joint operations have secured two
significant construction projects with our share of the estimated
contract values amounting to approximately HK$4,591 million.
As such, our construction business in Hong Kong was likely
not materially affected by the COVID-19 pandemic. Given the
two significant contracts awarded during the period and other
contracts on hand, we believe that the turnover of the Group’s
operation in the coming years will remain sustainable and
stable.
The HKSAR Government has committed to increasing
the supply of land and housing supply, especially in public
housing, as well as hospital facilities to fulfil the needs of
the community. We believe that the project workload of the
construction industry in medium to long term will continue
active by supporting from the HKSAR Government. The
construction industry will still promising in the future.
The Group keeps actively investing in innovation and
technology so as to enhance work efficiency, quality of
quality and health and safety. We believe that our Group
has accumulated ample experience and know-how to be
competitive in future tendering new projects. We are also
looking for different investment opportunities to broaden our
source of income. Our actions will help create reasonable return
for shareholders in a changing marketplace.
前景
自二零二零年一月全球爆發新型冠狀病毒
（「COVID-19」），由於不同類型的封鎖和社交
距離限制，世界各地的經濟活動和人們生活深受
影響。在過去的六個月期間，我們採取了必要措
施保護我們員工及工人的健康及安全，以確保本
集團的所有目前工程都按計劃進行。此外，我們
合營業務已獲得兩個重大合資建造工程，本集
團預計可佔其合約價值約45.91億港元。因此，
我們在香港的建造業務似乎並沒有嚴重地受到
COVID-19疲情的影響。鑒於在本期間獲得的兩
個重大合約及其他手頭合約，我們相信，本集團
未來數年的收入將保持持續和穩定。
特區政府致力於增加土地和房屋供應，特別是公
共房屋和醫院設施的供應，以滿足社會的需求。
我們相信，在特區政府的積極支援下，建造業的
中長期工程工作量將繼續活躍，建造業未來仍然
光明。
本集團不斷地積極投資創新科技，以提高工作效
率、工作質素及健康安全。我們相信，本集團已
積累豐富的經驗及專業知識，在未來投標新項目
時具有競爭力。同時，我們亦正尋求不同的投資
機會以擴大收入來源。我們的行動將有助在不斷
變化的市場中為股東創造合理回報。
EMPLOYEES AND REMUNERATION POLICY
As of 30 September 2020, the Group employed 360 full-time
employees (31 March 2020: 336) in Hong Kong. The Group
remunerates its employees based on their performance and
work experience and with reference to the prevailing market
conditions. On top of the regular remuneration, discretionary
bonus and share options may be granted to senior management
and staff members by reference to the Group’s performance,
specific project’s performance as well as the individual
employee’s performance. Staff benefits include mandatory
provident fund, medical insurance, incentive travel, subsidies
for education and training programmes, etc..
At the Annual General Meeting of the Company held on
31 August 2018, the adoption of a share option scheme (the
「Scheme」) was considered and approved. The purposes of the
Scheme are to provide incentives for the directors and fulltime
employees of the members of the Group to work towards
enhancing the value of the Company and its Shares for benefit
of the Company and its shareholders as a whole. The Scheme
provides the Group with a flexible means of either retaining,
incentivising, rewarding, remunerating, compensating and/or
providing benefits to participants of the scheme. From the date
of adoption of the Scheme and up to 30 September 2020, the
Company did not grant any share options under the Scheme
and no equity-settled share option expense was charged to the
profit or loss.
僱員及薪酬政策
於二零二零年九月三十日，本集團於香港聘用360
名（於二零二零年三月三十一日：
336名）全職僱
員。本集團根據僱員的表現、工作經驗及參考現
行市場狀況以釐定其薪酬。除一般薪酬外，本集
團因應本集團業績、個別項目的業績及僱員的個
人表現，或會向高級管理層及僱員授出酌情花紅
及購股權。僱員福利包括強制性公積金、醫療保
險、獎勵旅遊、教育津貼及培訓計劃。
本公司於其二零一八年八月三十一日舉行的股東
週年大會上，審議並批准採納一項購股權計劃
（「計劃」）。計劃旨在鼓勵本集團各成員的董事及
全職僱員為本公司及其股東的整體利益，努力提
升本公司及其股份的價值。計劃令本集團能靈活
挽留、激勵、回饋、酬報、補償及╱或向計劃參
與者提供利益。自採納計劃之日至二零二零年九
月三十日止，本公司並無根據計劃授出購股權，
亦無於損益內扣除任何金額作為權益結算的購股
權開支。
DIRECTORS』 AND CHIEF EXECUTIVE』S
INTERESTS IN SECURITIES
As at 30 September 2020, details of the interests and short
positions of each of the Director and chief executive of the
Company in the Shares, underlying Shares and debentures of
the Company or any of its associated corporations (within the
meaning of Part XV of the Securities and Futures Ordinance
(the 「SFO」)) as required to be notified to the Company and the
Stock Exchange pursuant to Divisions 7 and 8 of Part XV of the
SFO (including interests and short positions which they were
taken or deemed to have taken under provisions of the SFO);
or required to be recorded in the register kept by the Company
under section 352 of the SFO; or otherwise required to be
notified to the Company and the Stock Exchange pursuant to
the 「Model Code for Securities Transactions by Directors of Listed
Issuers」 (the 「Model Code」) as set out in Appendix 10 of the
Listing Rules were as follows:
Long Position in the Ordinary Shares of the Company:
Directors Capacity and nature of interests
董事身份及權益性質
Mr. NGAI Chun Hung Interest in a controlled corporation
(「Mr. NGAI」) (note)
魏振雄先生（（附註）
「魏先生」）透過一受控制法團的權益
Mr. LAU Chi Fai, Daniel Personal
(「Mr. LAU」)
劉志輝先生（「劉先生」）個人
Mr. CHEUNG Ho Yuen Personal
(「Mr. CHEUNG」)
張浩源先生（「張先生」）個人
董事及最高行政人員的證券權益
於二零二零年九月三十日，本公司各董事及最高
行政人員於本公司或其任何相聯法團（定義見《證
券及期貨條例》（「證券及期貨條例」）第XV部）的股
份、相關股份及債券中擁有根據證券及期貨條例
第XV部第7及第8分部須知會本公司及聯交所的任
何權益及淡倉（包括根據證券及期貨條例有關條文
被當作或被視為擁有的權益及淡倉）；或根據證券
及期貨條例第352條規定須記錄於本公司須予存置
的登記冊內的任何權益及淡倉；或根據上市規則
附錄十《上市發行人董事進行證券交易的標準守
則》（「標準守則」）而須知會本公司及聯交所的任
何權益及淡倉如下：
於本公司普通股（「股份」）中的好倉：
% of issued
Number of share capital of
shares interested the Company
擁有權益的佔本公司已發行
股份數目股本的百分比
1,500,000,000 75.00
300,000 0.02
66,857 0.00
Note:
As at 30 September 2020, Mr. NGAI was deemed to be interested
in 1,080,011,200 ordinary shares of Vantage (「Vantage Shares」)
(representing 64.16% of the entire issued share capital of Vantage),
which comprised (i) 6,250,800 Vantage Shares held by himself; (ii)
838,760,400 Vantage Shares held by Winhale Ltd. (「Winhale」)
by virtue of him being the founder of The Xyston Trust; and (iii)
235,000,000 Vantage Shares held by Fame Yield International Limited
(「Fame Yield」) by virtue of his legal and beneficial interest in the
entire issued share capital of Fame Yield. Accordingly, Mr. NGAI was
deemed to be interested in the 1,500,000,000 shares of the Company
held by Profit Chain Investments Limited (「Profit Chain」), an
immediate holding company of the Company, under the SFO.
Subsequent to the privatisation of Vantage by Fame Yield with the
effective date on 20 October 2020, Mr. NGAI was deemed to be
interested in 1,683,146,400 Vantage Shares (representing 100% of the
entire issued share capital of Vantage), which comprised (i) 6,250,800
Vantage Shares held by himself; (ii) 838,760,400 Vantage Shares held
by Winhale; and (iii) 838,135,200 Vantage Shares held by Fame Yield
(the 「Privatisation」).
As further disclosed in the announcement of the Company dated
19 November 2020, Golden Lux Holdings Limited (「Golden Lux」,
a company incorporated in the British Virgin Island with limited
liability and the entire issued share capital of which is ultimately and
beneficially owned by Mr. NGAI) holds 75% of the total issued share
capital of the Company upon the completion of the restructuring
involving change in shareholding structure of the controlling
shareholders of the Company (the 「Restructuring」).
附註：於二零二零年九月三十日，魏先生被視為於
1,080,011,200股盈信股份（「盈信股份」）中擁有
權益（佔盈信全部已發行股本64.16%），其中包
括(i)其本身持有的
6,250,800股盈信股份；
(ii)
因其為
The Xyston Trust的授予人而由
Winhale
Ltd.（「Winhale」）持有的
838,760,400股盈信股
份；及
(iii)因其於名成國際有限公司（「名成」）
全部已發行股本的法定及實益權益而由名成所
持有的235,000,000股盈信股份。因此，根據證
券及期貨條例，魏先生被視作於Profit Chain
Investments Limited（「
Profit Chain」）持有的
1,500,000,000股本公司股份中擁有權益。
於生效日期為二零二零年十月二十日，名成將
盈信私有化（「私有化」）後，魏先生被視為於
1,683,146,400股盈信股份中擁有權益（佔盈信全
部已發行股本100%），其中包括
(i)其本身持有
的6,250,800股盈信股份；
(ii)由Winhale持有的
838,760,400股盈信股份；及
(iii)由名成所持有
的838,135,200股盈信股份。
本公司於日期為二零二零年十一月十九日的公
告進一步披露，涉及本公司控股股東股權架構
的重組（「重組」）完成後，金力控股有限公司
（「金力」，一間於英屬維京群島註冊成立的有
限公司，其全部已發行股本由魏先生最終實益
擁有）持有本公司全部已發行股本的75%。
Long Position in the Ordinary Shares of an Associated 於相聯法團普通股中的好倉－盈信：
Corporation – Vantage:
Number of % of issued
Capacity and Vantage Shares share capital of
Directors Notes nature of interests interested Vantage
擁有權益的佔盈信已發行
董事附註身份及權益性質盈信股份數目股本的百分比
Mr. NGAI
(a) As founder of a trust 838,760,400 49.83
魏先生
作為一信託成立人
(b) Interest in a controlled corporation 235,000,000 13.96
透過一受控制法團的權益
Personal
6,250,800 0.37
個人
(d)
1,080,011,200 64.16
Mr. YAU Kwok Fai (「Mr. YAU」) (c) Interest in a controlled corporation 30,888,000 1.84
遊國輝先生（「遊先生」）
透過一受控制法團的權益
Personal
8,448,000 0.50
個人
(d)
39,336,000 2.34
Mr. LAU (d) Personal 300,000 0.02
劉先生個人
Mr. CHEUNG (d) Personal 240,000 0.01
張先生個人
Notes:
附註：
(a)
These Vantage Shares were legally and beneficially owned by Winhale, (a) 此等盈信股份由Winhale法定及實益擁有，該公
which was ultimately beneficially wholly-owned by The Xyston Trust. 司由The Xyston Trust最終實益全資擁有。The
The Xyston Trust was a discretionary trust founded by Mr. NGAI for the Xyston Trust為一個由魏先生為其家庭成員創立的
benefits of his family members. 全權信託基金。
(b)
These Vantage Shares were legally and beneficially owned by Fame Yield, (b) 此等盈信股份由名成法定及實益擁有，該公司的
the entire issued share capital of which was legally and beneficially owned 全部已發行股本乃由魏先生法定及實益擁有。
by Mr. NGAI.
(c)
These Vantage Shares were legally and beneficially owned by Business (c) 此等盈信股份由Business Success Limited法定及實
Success Limited, the entire issued share capital of which was legally and 益擁有，該公司的全部已發行股本乃由遊先生法
beneficially owned by Mr. YAU. 定及實益擁有。
(d)
Upon the effective date of the Privatisation on 20 October 2020, Mr. (d) 於生效日期為二零二零年十月二十日的私有化
NGAI is deemed to be interested in 100% of the entire issued capital of 後，魏先生被視為佔盈信全部已發行股本的
Vantage and Mr. YAU, Mr. LAU and Mr. CHEUNG no longer hold any 100%，而遊先生、劉先生及張先生不再持有任何
Vantage Shares.盈信股份。
Long Position in the Underlying Shares of an Associated 於相聯法團相關股份中的好倉－盈信：
Corporation – Vantage:
Number of share options
購股權數目
At Granted Exercised Lapsed At Date of Exercise Exercise
1 April during during during 30 September grant of period of price of
Directors 2020 the period the period the period 2020 share options share options share options
於於於於於
二零二零年本期間本期間本期間二零二零年購股權的購股權的購股權的
董事四月一日內授出內行使內註銷九月三十日授予日行使期行使價
』000 』000 』000 』000 』000 HK$ per share
千份千份千份千份千份每股港元
Mr. NGAI4,500 – – (4,500) – 10/09/201510/03/2016 to 0.526
09/09/2020
魏先生
二零一五年二零一六年
九月十日
三月十日至
二零二零年
九月九日
Mr. YAU4,500 – – (4,500) – 10/09/201510/03/2016 to 0.526
09/09/2020
遊先生
二零一五年二零一六年
九月十日
三月十日至
二零二零年
九月九日
Save as disclosed above, as at 30 September 2020, the Company 除上文所述者外，於二零二零年九月三十日，本
and its associated corporations had no outstanding share 公司及其相聯法團並無任何已授予董事及最高行
options granted to the Directors and chief executive of the 政人員，而據此可認購本公司及其相聯法團的證
Company to subscribe for the securities of the Company and its 券的尚未行使的購股權。
associated corporations.
Save as disclosed above, as at 30 September 2020, none of the 除上文所述者外，於二零二零年九月三十日，本
Directors or chief executive of the Company had any interests 公司董事及最高行政人員概無於本公司或其任何
or short positions in the shares, underlying shares or debentures 相關法團（定義見證券及期貨條例第XV部）的股
of the Company or any of its associated corporations (within 份、相關股份或債券中擁有根據證券及期貨條例
the meaning of Part XV of the SFO) which was required to be 第XV部第7及第8分部須知會本公司及聯交所的任
notified to the Company and the Stock Exchange pursuant to 何權益或淡倉（包括根據證券及期貨條例有關條文
Divisions 7 and 8 of Part XV of the SFO (including interests 被當作或被視為擁有的權益及淡倉）；或根據證券
and short positions which they were taken or deemed to have 及期貨條例第352條規定須記錄於本公司須予存置
taken under provisions of the SFO), or as recorded in the 的登記冊內的任何權益或淡倉；或根據標準守則
register kept by the Company under section 352 of the SFO, 須知會本公司及聯交所的任何權益或淡倉。
or otherwise to be notified to the Company and the Stock
Exchange pursuant to the Model Code.
DIRECTORS』 RIGHT TO ACQUIRE SECURITIES
OR DEBENTURES
Save as disclosed under the heading 「DIRECTORS』 AND
CHIEF EXECUTIVE』S INTERESTS IN SECURITIES」 above,
at no time during the six months ended 30 September 2020 was
the Company, its holding company or any of its subsidiaries
a party to any arrangement to enable the Directors, their
respective spouse, or children to acquire benefits by means of
acquisition of shares in or debentures of the Company or any
other body corporate.
SHARE OPTION SCHEMES
Save as the Scheme adopted by the Company set out in note
14 to the unaudited condensed consolidated interim financial
information, no equity-linked agreements were entered into by
the Company and its subsidiaries during this period or subsisted
at the end of this period.
董事購入證券或債券的權益
除上文「董事及最高行政人員的證券權益」一節所
披露者外，本公司、其控股公司或其任何附屬公
司在截至二零二零年九月三十日止六個月內，概
無作出任何安排致使董事、彼等各自的配偶或子
女，可藉著購入本公司或任何其他法人團體的股
份或債務證券而獲取利益。
購股權計劃
除本公司採納於未經審核簡明綜合中期財務資料
附註14所載的該計劃外，本公司及其附屬公司概
無於本期間內訂立股票掛鉤協議，亦概無股票掛
鉤協議於本期間末存續。
SUBSTANTIAL SHAREHOLDERS』 INTERESTS
IN SECURITIES
As at 30 September 2020, according to the register kept by the
Company pursuant to Section 336 of the SFO, the following
persons and companies (other than the Directors or chief
executive of the Company) had an interest or short position
in the shares and the underlying shares of the Company which
fell to be disclosed to the Company under the provisions of the
Divisions 2 and 3 of Part XV of the SFO:
Long Positions in the shares of the Company:
Name of shareholders Notes
股東姓名╱名稱附註
Profit Chain
Profit Chain(a)
Vantage
盈信
(b)
Winhale
Winhale(b)
Braveway Limited
Braveway Limited(c)
HSBC International
Trustee Limited
滙豐國際信託有限公司
(c)
Ms. CHENG Wai Chun
(「Ms. CHENG」)
鄭惠珍女士
（「鄭女士」）
(d)
Notes:
Capacity and
nature of interest
身份及權益性質
Beneficial owner
實益擁有人
Interest in a controlled corporation
受控制法團權益
1,500,000,000 75.00Interest in a controlled corporation
受控制法團權益
1,500,000,000 75.00
Interest in a controlled corporation
受控制法團權益
1,500,000,000 75.00
Interest in a controlled corporation 1,500,000,000 75.00
受控制法團權益
Interest in a controlled corporation and spouse 1,500,000,000 75.00
受控制法團權益及配偶權益
(a)
Profit Chain was wholly-owned by Vantage. As such, Vantage was
deemed to be interested in the 1,500,000,000 shares of the Company
owned by Profit Chain under the SFO.
(b)
Winhale was deemed to be interested in 1,500,000,000 shares of the
Company held by Profit Chain under the SFO by virtue of its deemed
interest in approximately 49.84% of the entire issued share capital of
Vantage.
(c)
Braveway Limited and HSBC International Trustee Limited were deemed
to be interested in the Shares held by Winhale by virtue of the fact that
Winhale is wholly-owned by the trusts of which Braveway Limited and
HSBC International Trustee Limited are the trustees.
(d)
Ms. CHENG is the sole shareholder of Braveway Limited and the spouse
of Mr. NGAI. Ms. CHENG was deemed to be interested in 1,500,000,000
shares of the Company held by Profit Chain under the SFO.
主要股東的證券權益
於二零二零年九月三十日，根據按證券及期貨條
例第336條規定記錄於本公司須予存置的登記冊，
以下人士及公司（本公司董事或最高行政人員除
外）於本公司股份及相關股份中擁有根據證券及期
貨條例第
XV部第2及第3分部的條文須向本公司披
露的權益或淡倉：
於本公司股份的好倉：
% of issued
Number of share capital of
shares held the Company
所持有普通佔本公司已發行
股份數目股本百分比
1,500,000,000 75.00
附註：
(a)
Profit Chain由盈信全資擁有。因此，根據證券及
期貨條例，盈信被視為於Profit Chain擁有的本公
司1,500,000,000股股份中擁有權益。
(b)
根據證券及期貨條例，基於Winhale被當作擁有盈
信全部已發行股本約49.84%權益，因此其被視為
於Profit Chain所持有的本公司1,500,000,000股股
份中擁有權益。
(c)
Braveway Limited及滙豐國際信託有限公司被視為
於Winhale持有的盈信股份中擁有權益。Winhale
乃由
Braveway Limited及滙豐國際信託有限公司作
為信託人的信託全資擁有。
(d)
鄭女士為
Braveway Limited的唯一股東並為魏先生
的配偶。根據證券及期貨條例，鄭女士被視為於
Profit Chain所持有的本公司1,500,000,000股股份
中擁有權益。
Subsequent to the Privatisation and the Restructuring, except
for Ms. CHENG, the spouse of Mr. NGAI, is deemed to be
interested in 1,500,000,000 shares of the Company held by
Golden Lux, all of the above parties no longer have any equity
interest on the Company.
Save as disclosed above, as at 30 September 2020, no other
person (other than the Directors or chief executive of the
Company) had an interest or short position in the shares
and the underlying shares which fell to be disclosed to the
Company under the provisions of the Divisions 2 and 3 of
Part XV of the SFO, or who, as at 30 September 2020, was
directly or indirectly, interested in 10% or more of the nominal
value of any class of share capital carrying rights to vote in all
circumstances at general meetings of any other member of the
Group.
CONNECTED TRANSACTIONS
The Group entered into certain transactions with parties
regarded as 「Related Parties」 under applicable accounting
principles. These mainly relate to contracts entered into by the
Group in the ordinary course of business, which contracts were
negotiated on normal commercial terms and on an arm’s length
basis. Further details are set out in note 17 to the unaudited
condensed consolidated interim financial information. The
details of the transactions which also constitute 「continuing
connected transactions」 under the Listing Rules are set out as
follows:
Continuing Connected Transaction – Lease granted by the
Remaining Vantage Group
The following lease arrangements were entered into by the
Group, as tenant, and Frason Holdings Limited, an indirect
wholly-owned subsidiary of Vantage, as landlord:
Connected person Date of agreement Terms
關連人士協議日期年期
Frason Holdings 31 May 2019 Commencing
Limited from 1 June 2019
and expiring on
31 March 2021
輝信集團有限公司二零一九年自二零一九年六月一日
五月三十一日起至二零二一年
三月三十一日止
於私有化及重組後，除鄭女士（為魏先生的配偶，
被視為於金力所持有的本公司
1,500,000,000股股
份中擁有權益）外，上述全部人士不再擁有任何本
公司的股本權益。
除上文所述者外，於二零二零年九月三十日，概
無其他人士（本公司董事或最高行政人員除外）於
本公司股份及相關股份中擁有根據證券及期貨條
例第XV部第2及第3分部的條文須向本公司披露
的權益或淡倉，亦無任何人士於二零二零年九月
三十日直接或間接擁有在任何情況下可於本集團
屬下任何其他成員公司的股東大會上投票的任何
類別股本面值10%或以上的權益。
關連交易
本集團與根據適用會計原則被視為「關連方」的人
士訂立若干交易。該等交易主要涉及本集團於日
常業務過程中按一般商業條款經公平原則基礎磋
商而訂立的合約。進一步詳情載於未經審核簡明
綜合中期財務資料附註17。當中亦構成上市規則
項下的「持續關連交易」的交易的詳情載列如下：
持續關連交易－餘下盈信集團授出的租賃
本集團（作為租戶）與輝信集團有限公司（盈信的間
接全資附屬公司）（作為業主）達成下列租賃安排：
Premises Consideration
物業代價
Identified portion of
No. 155 Waterloo Road,
Kowloon Tong, Kowloon,
Hong Kong
香港九龍九龍塘窩打老道
155號已識別位置
HK$234,000/month
每月234,000港元
During the six months ended 30 September 2020, the
aforementioned lease arrangements constitute de minimis
continuing connected transactions of the Company which fall
under the fully exempted de minimis provisions pursuant to
Rule 14A.76(1)(c) of the Listing Rules.
The above continuing connected transactions were entered
in the ordinary and usual course of business of the Group after
due negotiations on an arm’s length basis with reference to the
prevailing market conditions and rateable value of the property.
UPDATES ON DIRECTOR』S INFORMATION
With effect from 1 November 2020, Mr. YAU resigned from
the positions of deputy chairman of the board of directors, the
executive director and the chief executive officer of Vantage
following completion of the Privatisation and the withdrawal of
the listing of the Vantage Shares from the Stock Exchange on
22 October 2020.
Save as disclosed above, upon enquiry by the Company, there
is no change in the information of the Directors required to be
disclosed since the Company’s last published annual report.
CORPORATE GOVERNANCE
In the opinion of Board, the Company complied with the
code provisions as set out in the 「Corporate Governance Code」
contained in Appendix 14 to the Listing Rules throughout the
six months ended 30 September 2020.
MODEL CODE FOR SECURITIES TRANSACTIONS
BY DIRECTORS
The Company has adopted the Model Code as set out in
Appendix 10 to the Listing Rules as its code of conduct
regarding securities transactions by the Directors. Following
specific enquiry made by the Company, all Directors have
confirmed that they had complied with the required standard
set out in the Model Code during the six months ended 30
September 2020.
於截至二零二零年九月三十日止六個月，上述租
賃安排構成本公司符合最低豁免水平的持續關連
交易，符合上市規則第14A.76(1)(c)條的符合最
低豁免水平規定，可獲全面豁免。
以上持續關連交易已參考其時的市況及該物業的
應課差餉租值，並經公平原則基礎磋商後在本集
團日常及一般業務過程中訂立。
更新董事資料
完成私有化及盈信股份於二零二零年十月二十二
日於聯交所的上市地位被撤銷後，遊先生自二零
二零年十一月一日起辭任盈信的董事會副主席、
執行董事及行政總裁的職務。
除上文所披露者外，經本公司查詢後，自本公司
最近公佈的年度報告起，董事的信息並無任何須
予披露的更改。
企業管治
董事會認為，於截至二零二零年九月三十日止六
個月內，本公司已遵守上市規則附錄14所載《企業
管治守則》的守則條文。
董事進行證券交易的標準守則
本公司已採納上市規則附錄10所載的標準守則作
為董事進行證券交易的操守準則。經本公司作出
特定查詢後，所有董事均確認彼等於截至二零二
零年九月三十日止六個月內一直遵守標準守則所
載的規定標準。
PURCHASE, SALE OR REDEMPTION OF THE
COMPANY』S LISTED SECURITIES
Neither the Company nor any of its subsidiaries purchased, sold
or redeemed any of the Company’s listed securities during the
six months ended 30 September 2020.
REVIEW BY AUDIT COMMITTEE
The Audit Committee comprises three independent nonexecutive
Directors of the Company, Ms. LEUNG Yuen Shan,
Maisy (Chairman), Dr. LI Yok Sheung and Ms. MAK Suk
Hing, with written terms of reference in accordance with the
requirements of the Listing Rules, and reports to the Board.
Ms. LEUNG Yuen Shan, Maisy possesses the appropriate
accounting qualifications and experiences in financial matters.
The Audit Committee has reviewed with management the
accounting principles and practices adopted by the Group
and discussed internal control, risk management and financial
reporting matters. The Audit Committee has also reviewed
the unaudited condensed consolidated interim financial
information for the six months ended 30 September 2020.
APPRECIATION
On behalf of the Board, I would like to express our gratitude
and sincere appreciation to all management and staff members
of the Group for their hard work and dedication, and all
shareholders of the Company for their support.
By Order of the Board of
ABLE ENGINEERING HOLDINGS LIMITED
NGAI Chun Hung
Chairman
Hong Kong, 27 November 2020
購買、出售或贖回本公司的上市證券
於截至二零二零年九月三十日止六個月內，本公
司或其任何附屬公司並無購買、出售或贖回本公
司任何上市證券。
由審核委員會審閱
審核委員會由本公司三名獨立非執行董事：梁婉
珊女士（主席）、李毓湘博士及麥淑卿女士所組
成，其書面職權範圍符合上市規則的規定，並向
董事會匯報。梁婉珊女士具有合適的會計資格及
財務事宜的經驗。審核委員會已與管理層審閱本
集團所採納的會計原則及慣例，並已就內部監
控、風險管理及財務申報事宜進行商討。審核委
員會亦已審閱截至二零二零年九月三十日止六個
月的未經審核簡明綜合中期財務資料。
鳴謝
本人謹代表董事會對本集團全體管理人員及僱員
的努力不懈與貢獻，以及本公司所有股東的支
持，致以衷心感謝。
承董事會命
安保工程控股有限公司
主席
魏振雄
香港，二零二零年十一月二十七日
中財網