01213 万保刚集团 财务报表/环境、社会及管治资料：年报 2024/2025
CONTENTS 目录
2Corporate Information公司资料
4Group Structure集团架构
5Financial Highlights财务摘要
7CEO’s Statement行政总裁报告
11Management Discussion and Analysis管理层讨论及分析
16Directors’ and Senior Management’s Profile董事及高级管理层简介
24Corporate Governance Report企业管治报告书
38Environmental, Social and Governance Report环境、社会及管治报告
61Report of the Directors董事会报告
71Independent Auditors’ Report独立核数师报告
77Consolidated Statement of Profit or Loss综合损益表
78Consolidated Statement of Comprehensive Income综合全面收益表
79Consolidated Statement of Financial Position综合财务状况表
81Consolidated Statement of Changes in Equity综合权益变动表
83Consolidated Statement of Cash Flows综合现金流量表
85Notes to the Consolidated Financial Statements综合财务报表附注
175Financial Summary财务概要
Mobicon Group Limited – Annual Report 2024/2025
Board of Directors
Executive Directors
Hung Kim Fung, Measure (Chairman)
Yeung Man Yi, Beryl (Deputy Chairman and Chief Executive Officer)
Hung Ying Fung
Yeung Kwok Leung, Allix
Independent Non-Executive Directors
Ip Fu Wa, Benthony
Leung Wai Cheung
Ku Wing Hong, Eric
Audit Committee
Leung Wai Cheung (Chairman)
Ip Fu Wa, Benthony
Ku Wing Hong, Eric
Remuneration Committee
Leung Wai Cheung (Chairman)
Yeung Man Yi, Beryl
Ku Wing Hong, Eric
Nomination Committee
Hung Kim Fung, Measure (Chairman)
Ip Fu Wa, Benthony
Leung Wai Cheung
Registered Office
Clarendon House
2 Church Street
Hamilton HM 11
Bermuda
Principal Place of Business
7/F New Trend Centre
704 Prince Edward Road East
San Po Kong
Kowloon
Hong Kong
董事会
执行董事
洪剑峰（主席）
杨敏仪（副主席兼行政总裁）
洪英峰
杨国梁
独立非执行董事
叶富华
梁伟祥
古永康
审核委员会
梁伟祥（主席）
叶富华
古永康
薪酬委员会
梁伟祥（主席）
杨敏仪
古永康
提名委员会
洪剑峰（主席）
叶富华
梁伟祥
注册办事处
Clarendon House
2 Church Street
Hamilton HM 11
Bermuda
主要营业地点
香港
九龙
新蒲岗
太子道东704号
新时代工贸商业中心7楼
Corporate Information
公司资料
万保刚集团有限公司 – 二零二四/二零二五年年报
Company Secretary
Tsoi Ho Yin
Auditors
HLB Hodgson Impey Cheng Limited
Certified Public Accountants
31/F Gloucester Tower
The Landmark
11 Pedder Street, Central
Hong Kong
Principal Share Registrar and Transfer Office
Appleby Global Corporate Services (Bermuda) Limited
Canon’s Court, 22 Victoria Street,
PO Box HM 1179,
Hamilton HM EX
Bermuda
Branch Share Registrar and Transfer Office
Computershare Hong Kong Investor Services Limited
Shops 1712–1716, 17/F
Hopewell Centre
183 Queen’s Road East
Hong Kong
Principal Bankers
Dah Sing Bank, Limited
DBS Bank (Hong Kong) Limited
Hang Seng Bank Limited
Legal Advisers
LOEB & LOEB LLP
2206-19 Jardine House
1 Connaught Place
Central
Hong Kong
Corporate Website
http://www.mobicon.com
Investor Relations Contact
Telephone no: (852) 2397 6628
Facsimile no: (852) 2397 0339
Stock Code
公司秘书
蔡浩贤
核数师
国卫会计师事务所有限公司
香港执业会计师
香港
中环毕打街11号
置地广场
告罗士打大厦31楼
主要股份过户登记处
Appleby Global Corporate Services (Bermuda) Limited
Canon’s Court, 22 Victoria Street,
PO Box HM 1179,
Hamilton HM EX
Bermuda
股份过户登记分处
香港中央证券登记有限公司
香港
皇后大道东183号
合和中心
17楼1712–1716室
主要往来银行
大新银行有限公司
星展银行（香港）有限公司
恒生银行有限公司
法律顾问
乐博律师事务所有限法律责任合伙
香港
中环
康乐广场1号
怡和大厦2206-19室
公司网站
http://www.mobicon.com
投资者关系联络
电话号码：(852) 2397 6628
传真号码：(852) 2397 0339
股份代号
Corporate Information
公司资料
Mobicon Group Limited – Annual Report 2024/2025
Group Structure
集团架构
* For identification purpose only 仅供识别
100%
100%100%100%100%
100%
100%61%
100%
100%
100%
100%
100%
90%100%
51%
80%
100%
100%
100%95%
100%100%
（百慕达）
（英属处女群岛）
（台湾）
（香港）（英属处女群岛）（香港）
（香港）（香港）
（香港）
（香港）
（香港）
（中国大陆）
（英属处女群岛）
（英属处女群岛）
（英属处女群岛）（英属处女群岛）
（南非）
（南非）
（南非）（南非）
（南非）
（葡萄牙）
（马来西亚）（新加坡）
万保刚集团有限公司 – 二零二四/二零二五年年报
Financial Highlights
财务摘要
Major Financial Indicators and Ratios
主要财务指标及比率
For the year ended 31st March
截至三月三十一日止年度
| 2025 二零二五年 | 2024 二零二四年 | % changes increase (decrease) 百分比变动 | ||
|---|---|---|---|---|
| HK$’000 | HK$’000 | 增（减） | ||
| 千港元 | 千港元 | |||
| Operating results | 经 营业绩 | |||
| Revenue | 收益 | 287,322 | 340,579 | (15.6) |
| Gross profit | 毛利 | 75,216 | 89,491 | (16.0) |
| Operating (loss)/profit | 经营（亏损）╱溢利 | (6,122) | 10,264 | (160) |
| Net (loss)/profit | （ 净亏损）╱纯利 | (10,480) | 1,751 | (69 9) |
| HK cents | HK cents | % | ||
|---|---|---|---|---|
| 港仙 | 港仙 | |||
| Per share data | 每 股资料 | |||
| Loss per share | 每股亏损 | (5.9) | (2.5) | 136 |
| Total dividend per share | 每股总股息 | 0.75 | 1 | (25) |
| Net assets per share | 每股资产净值 | 79.6 | 83.3 | (4. 4) |
| HK$’000 | HK$’000 | % | ||
|---|---|---|---|---|
| 千港元 | 千港元 | |||
| Financial position | 财 务状况 | |||
| Total assets | 资产总值 | 263,127 | 273,883 | (3.9) |
| Net assets | 资产净值 | 159,140 | 166,648 | (4.5) |
| Financial ratio | 财 务比率 | |||
| Current ratio (Times) | 流动比率（倍） | 2.1 | 2.2 | (4.5) |
| Quick ratio (Times) | 速动比率（倍） | 0.7 | 0.7 | – |
| Gross margin (%) | 毛利率(%) | 26.2 | 26.3 | (0.4) |
| Net gearing ratio (%) | 净 资产负债比率(%) | 25.0 | 24.7 | 1. 2 |
| Days | Days | % | ||
|---|---|---|---|---|
| 日 | 日 | |||
| Turnover ratio | 周 转比率 | |||
| Inventory turnover | 存货周转 | 250 | 229 | 9.2 |
| Debtors turnover | 应收账周转 | 33 | 35 | (5.7) |
| Creditors turnover | 应 付账周转 | 28 | 36 | (2 2) |
Mobicon Group Limited – Annual Report 2024/2025
Financial Highlights
财务摘要
For the year ended 31st March 截至三月三十一日止年度
Revenue by Geographical Segments (by %)
按地区分类之收益（按百分比显示）
Revenue by Business Segments (by %)
按业务分类之收益（按百分比显示）
Revenue
收益
Shareholders’ Equity
股东权益
Profit (Loss) Attributable to Shareholders
股东应占溢利（亏损）
Earnings (Loss) per Share – Basic
每股盈利（亏损）－基本
Hong Kong 香港43%
Asia Pacific (other than Hong Kong) 亚太地区（香港除外）17%
South Africa 南非36%
Europe 欧洲3%
Others 其他地区 1%
67%
19%
Electronic and Electrical Trading Business电子、电气元件买卖业务
Computer Business 电脑业务
Cosmetic and Online Retail Business 化妆品及网上零售业务 14%
HK$ in million
百万港元
HK$ in million
百万港元
12.2
-20
-10
-5
-15
13.2
(0.4)
(4.9)
(11.8)
HK$ in million
百万港元
HK cents
港仙
6.6
6.1
-1
-3
-4
-5
-6
-7
-8
-9
-10
-2
(0.2)
(2.5)
(5.9)
万保刚集团有限公司 – 二零二四/二零二五年年报
CEO’s Statement
行政总裁报告
Financial Results
For the financial year ended 31st March 2025 (the “Year Under Review”),
the Group recorded a turnover of approximately HK$287 million,
representing a decrease of about 15.8% from approximately HK$341
million recorded in the previous year. Gross profit decreased by about
15.7% from approximately HK$89 million for the previous year to around
HK$75 million this year, while the gross profit margin decreased by about
0.4% from 26.3% to 26.2%. The Group recorded an operating loss of
approximately HK$6.1 million (31st March 2024: profit of approximately
HK$10.3 million). The loss attributable to shareholders was approximately
HK$11.8 million (31st March 2024: loss of approximately HK$4.9 million).
This represented loss per share of around HK$0.059 (loss per share of
around HK$0.025 as at 31st March 2024). The Board has resolved that
subject to the approval of the shareholders at the forthcoming annual
general meeting of the Company, a final dividend of HK0.25 cent per
ordinary share shall be declared for the year ended 31st March 2025,
totally HK$0.5 million to the shareholders whose names appeared on
the register of members of the Company on 21st August 2025. The final
dividend, if approved, is expected to be paid on 1st September 2025.
财务业绩
截至二零二五年三月三十一日止财政年度（「回顾
年度」），本集团录得营业额约为二亿八千七百
万港元，与上年度录得约三亿四千一百万港元比
较，下跌约15.8%。毛利由上年度约八千九百万
港元下跌约15.7%至本年度约七千五百万港元，
而毛利率从26.3%下跌约0.4%至26.2%。本集团
经营亏损约为六百一十万港元（二零二四年三月
三十一日：利润约一千零三十万港元）。股东应
占亏损约为一千一百八十万港元（二零二四年三
月三十一日：亏损约四百九十万港元），相等于
每股亏损约0.059港元（于二零二四年三月三十一
日每股亏损约0.025港元）。董事会已议决，待股
东于本公司应届股东周年大会上批准后，将向在
二零二五年八月二十一日名列于本公司股东名册
之股东宣派截至二零二五年三月三十一日止年
度末期股息每股普通股0.25港仙，合共五十万港
元。末期股息一经股东批准，预期将于二零二五
年九月一日派付。
Mobicon Group Limited – Annual Report 2024/2025
CEO’s Statement
行政总裁报告
During the Year Under Review, the Group continued to focus on its three
core business operations, namely: (1) the distribution of electronic
components, electrical components and equipment under the brand of
(the “Electronic and Electrical Trading Business”); (2) the Computer
Business which includes (i) the retail sales of computer products and
smartphone accessories under the brand of (the “Computer
Retail Business”) and (ii) the distribution of computer products and
consumer products under the brand of (the “Computer Distribution
Business”); and (3) the Cosmetic and Online Retail Business mainly under
the brand of . and (the “Cosmetic and Online Retail
Business”). During the Year Under Review, the Group’s turnover derived
from the Electronic and Electrical Trading Business decreased by
approximately 13% to about HK$194 million from approximately HK$223
million for the previous year. Turnover from the Computer Business
decreased by approximately 20.6% to about HK$54 million from
approximately HK$68 million for the previous year. Turnover from the
Cosmetic and Online Retail Business decreased by approximately 22% to
about HK$39 million from approximately HK$50 million for the previous
year.
For the Year Under Review, the Group’s total operating expenses increased
by approximately 2.4% to around HK$84 million (31st March 2024: about
HK$82 million), among which the distribution and selling expenses were
approximately HK$30 million which have increased by about 3.4% from
approximately HK$29 million recorded for the previous year. During the
Year Under Review, the general and administrative expenses increased
by about 1.9% to around HK$54 million (31st March 2024: about HK$53
million). As at 31st March 2025, the headcount for the Electronic and
Electrical Trading Business increased from 312 full-time employees for
the previous year by approximately 0.3% to 313 full-time employees
for the Year Under Review while the headcount for the Computer
Business decreased from 41 full-time employees for the previous year by
approximately 9.7% to 37 full-time employees for the Year Under Review
and the headcount for the Cosmetic and Online Retail Business remained
unchanged at five (5) full-time employees for the Year Under Review.
Meanwhile, finance cost for the Year Under Review decreased by about
28.2% to approximately HK$2.8 million (31st March 2024: approximately
HK$3.9 million).
于回顾年度，本集团继续专注经营其三大核心业
务，即：(1)以为品牌的电子元件，电气元件
和仪器分销（「电子、电气元件买卖业务」）；(2)电
脑业务，当中包括(i)以为品牌的电脑产
品及智能手机配件零售（「电脑零售业务」）及(ii)以
为品牌的电脑产品及消费产品分销（「电脑
分销业务」）；及(3)以及为主要品牌的
化妆品及网上零售业务（「化妆品及网上零售业
务」）。于回顾年度，本集团来自电子、电气元件
买卖业务之营业额约为一亿九千四百万港元，较
去年约二亿二千三百万港元下跌约13%。电脑业
务的营业额约为五千四百万港元，较去年约
六千八百万港元下跌约20.6%。化妆品及网上零
售业务的营业额约为三千九百万港元，较去年约
五千万港元下跌约22%。
于回顾年度，本集团经营开支总额约为八千四百
万港元，增加约2.4%（二零二四年三月三十一
日：约八千二百万港元），其中分销及销售费用
约为三千万港元，较去年录得的约二千九百万
港元增加约3.4%。于回顾年度，一般及行政管理
费用增加约1.9%至约五千四百万港元（二零二四
年三月三十一日：约五千三百万港元）。于二零
二五年三月三十一日，电子、电气元件买卖业务
的员工数目从去年的312名全职员工增加约0.3%
至回顾年度的313名全职员工，电脑业务的员工
数目从去年的41名全职员工减少约9.7%至回顾
年度的37名全职员工，而化妆品及网上零售业
务的员工数目至回顾年度维持不变有五(5)名全
职员工。与此同时，回顾年度的融资成本减少
约28.2%至约二百八十万港元（二零二四年三月
三十一日：约三百九十万港元）。
万保刚集团有限公司 – 二零二四/二零二五年年报
CEO’s Statement
行政总裁报告
Development Strategy and Outlook
In 2025, global consumer electronics markets face significant geopolitical
tensions and economic volatility. Factors such as U.S.-China trade
restrictions, regional conflicts, and fluctuating inflation are impacting
export trading. Although stabilisation was delayed relative to 2024
expectations, the Group anticipates gradual improvement by late 2025,
bolstered by easing interest rates and enhanced supply chains. The Group
strategically leverages operations across Hong Kong, Taiwan, Portugal,
Malaysia, Singapore, China, and South Africa to mitigate risks and
capitalise on opportunities.
The Group’s South Africa headquarters, operational since early 2023 and
spanning 130,000 square feet, has played a pivotal role in strengthening
distribution networks by reducing lead times and optimising inventory
levels. Enhancements made to logistics efficiency in 2024 have contributed
to supporting stability in 2025. Swan Electrical (Pty) Limited, one of the
subsidiaries in South Africa, will relocate to the Group’s headquarters,
further reinforcing the Group’s African network and foster regional
partnerships. The expansion of third-party online sales channels in South
Africa in 2025 is expected to improve scalability and cost-effectiveness.
Within the Computer Business segment, demand for computer accessories
is anticipated to decline relative to 2024 figures due to market saturation
and reduced consumer spending. The Group is introducing more affordable
brand agency roles to diversify offerings. Coupled with stringent cost
controls, these measures aim to boost market presence, targeting gradual
recovery by mid-2026.
发展策略及展望
二零二五年，全球消费性电子市场将面临显著的
地缘政治紧张局势和经济波动。包括中美贸易
限制、区域冲突、通膨波动等因素，都将对出口
贸易产生影响。尽管市场复苏较二零二四年的预
期有所延迟，但集团预计，在利率下调和供应链
增强的推动下，到二零二五年末，市场将逐步改
善。集团策略性地利用其在香港、台湾、葡萄
牙、马来西亚、新加坡、中国大陆和南非的业
务，以降低风险并抓住机会。
集团位于南非的总部自二零二三年初投入运营，
占地13万平方英尺，强化了分销网络，缩短交货
周期和优化库存水准方面发挥了关键作用。二零
二四年，该总部实现了显著的物流效率提升有助
于支持二零二五年的的稳定发展。位于南非的附
属公司之一Swan Electrical (Pty) Limited也会迁入南
非集团总部，以进一步加强集团在非洲的业务网
络，并促进区域合作伙伴关系。二零二五年，集
团在南非拓展第三方网上销售管道，预计将进一
步提升可扩展性和成本效益。
在电脑业务领域，由于市场饱和和消费者支出减
少，预计电脑配件的需求将较二零二四年有所下
降。集团正在引入更多价格实惠且不断扩展的品
牌代理业务，以丰富产品组合。在严格的成本控
制下，这些措施旨在增强市场占有率，并在二零
二六年中期推动复苏。
Mobicon Group Limited – Annual Report 2024/2025
CEO’s Statement
行政总裁报告
The Cosmetic and Online Retail Business (“wishh!”) is projected to
underperform compared to 2024 levels. This underperformance is primarily
driven by intense competition and northbound shopping. To address
these challenges, the Group is optimising “wishh!” operations, exploring
new product lines, and strengthening online retail business, including
expanding sales of Japanese pet products. Moving forward, the online
retail business will be the primary focus.
Despite global and segment-specific challenges in 2025, the Group’s
strategic emphasis on logistics, diversified offerings, and cost
efficiency enhances resilience. The Group remains cautiously optimistic,
strengthening governance details, embracing online retails business
opportunities, and advancing steadily.
Appreciation
I would like to thank our management team and all our staff members for
their effort and significant contribution to the Group during the Year Under
Review. In addition, I would like to express my heartfelt gratitude to our
shareholders, institutional investors, customers, bankers and business
partners for their continuous support and confidence in the Group.
By order of the Board
Yeung Man Yi, Beryl
Deputy Chairman and Chief Executive Officer
Hong Kong, 25th June 2025
化妆品及网上零售业务（「wishh!」）的表现将逊于
二零二四年的水平。这主要源自于激烈的竞争和
北上购物。为了应对这些挑战，集团正在优化
「wishh!」的运营，探索新的产品线，并加强网上
零售业务，包括扩大日本宠物用品的销售。展望
未来，网上零售业务将成为集团的首要重点。
尽管二零二五年面临全球和各细分市场的特定挑
战，但集团对物流、多元化产品和成本效益的策
略重点增强了韧性。集团保持谨慎乐观的态度，
强化治理各项细节，拥抱网上零售业务的机遇，
稳步向前。
致谢
本人谨此感谢公司管理层及全体员工于回顾年度
的努力及为本集团作出重大的贡献。此外，本人
亦衷心感谢股东、机构投资者、客户、往来银行
及业务伙伴对本集团一直以来的支持与信赖。
承董事会命
副主席兼行政总裁
杨敏仪
香港，二零二五年六月二十五日
万保刚集团有限公司 – 二零二四/二零二五年年报
Management Discussion and Analysis
管理层讨论及分析
Business Review
During the Year Under Review, the Group operated in three core business
operations, namely: (1) the distribution of electronic components,
electrical components and equipment under the brand of (the
“Electronic and Electrical Trading Business”); (2) the computer business
which includes (i) the retail sales of computer products and smartphone
accessories under the brand of (the “Computer Retail
Business”) and (ii) the distribution of computer products and consumer
products under the brand of and (the “Computer Distribution
Business”, together with the Computer Retail Business, the “Computer
Business”); and (3) the Cosmetic and Online Retail Business mainly under
the brand of and (the “Cosmetic and Online Retail Business”).
The Electronic and Electrical Trading Business, the Computer Business and
the Cosmetic and Online Retail Business accounted for approximately
67% and 19% and 14% of the Group’s total turnover respectively for the
Year Under Review.
The gross profit margin of the Electronic and Electrical Trading Business,
the Computer Business and the Cosmetic and Online Retail Business were
approximately 29.3%, 20.2% and 19.1% respectively for the Year Under
Review (31st March 2024: approximately 29.5%, 19.8% and 20.8%).
Electronic and Electrical Trading Business
Hong Kong
Electronic and Electrical Trading Business is the primary contributor
to the Group’s revenue during the Year Under Review and recorded
revenue of approximately HK$194 million as compared with that of
approximately HK$223 million recorded last year, representing a decrease
of approximately 13%. The trading of electronic components faced
sustained demand contraction due to global market challenges. Despite
a slower-than-anticipated recovery, the Group implemented cost efficient
measures and streamlined its operations, positioning the segment for
future stability.
业务回顾
于回顾年度，本集团经营三大核心业务，即：(1)
以为品牌的电子元件、电气元件和仪器分
销（「电子、电气元件买卖业务」）；(2)电脑业务，
当中包括(i)以为品牌的电脑产品及智能
手机配件零售（「电脑零售业务」）及(ii)以为
品牌的电脑产品及消费产品分销业务（「电脑分销
业务」与电脑零售业务统称为「电脑业务」）；及(3)
以及为主要品牌的化妆品及网上零售
业务（「化妆品及网上零售业务」）。于回顾年度，
电子、电气元件买卖业务、电脑业务以及化妆品
及网上零售业务分别占本集团总营业额约67%、
19%及14%。
于回顾年度，电子、电气元件买卖业务、电脑业
务以及化妆品及网上零售业务之毛利率分别约
为29.3%、20.2%及19.1%（二零二四年三月三十一
日：约29.5%、19.8%及20.8%）。
电子、电气元件买卖业务
香港
电子、电气元件买卖业务于回顾年度内是本集团
收益主要来源，录得收益约一亿九千四百万港
元，较去年录得的约二亿二千三百万港元减少约
13%。受全球市场挑战影响，电子元件贸易业务
需求持续萎缩。尽管复苏速度慢于预期，集团仍
实施了成本效益措施并精简运营，为该业务的未
来稳定发展奠定了基础。
Mobicon Group Limited – Annual Report 2024/2025
Management Discussion and Analysis
管理层讨论及分析
Overseas
The aggregate turnover of all of the Group’s overseas subsidiaries was
approximately HK$124 million for the year ended 31st March 2025,
representing an overall decrease of approximately 13.9% as compared
with that of approximately HK$144 million recorded last year.
The Group’s subsidiaries in South Africa recorded turnover of
approximately HK$104 million for the year ended 31st March 2025,
representing a decrease by approximately 12.6% from approximately
HK$119 million last year. The primary reason was attributable to reduced
demand for electrical components. Despite these challenges, the Group
implemented cost efficient measures and inventory optimisation, ensuring
healthy business development.
In terms of geographical segments, the turnover from Hong Kong, the
Asia Pacific region (other than Hong Kong), South Africa, Europe and
other regions accounted for approximately 43%, 17%, 36%, 3% and 1%
respectively of the Group’s total turnover during the Year Under Review.
Computer Business
For the year ended 31st March 2025, the Computer Retail Business
recorded a turnover of approximately HK$10 million (31st March 2024:
approximately HK$13 million), representing a decrease of approximately
23.1%. For the year ended 31st March 2025, the turnover of the Computer
Distribution Business recorded a decrease of approximately 20% to
approximately HK$44 million (31st March 2024: approximately HK$55
million). Despite the turnover decrease, the gross profit margin for
Computer Business recorded an increase to approximately 20.2% (31st
March 2024: approximately 19.8%). The Group optimised operational
efficient measures and refined product offerings, bolstering resilience
amid challenging market conditions.
Cosmetic and Online Retail Business
During the Year Under Review, the Cosmetic and Online Retail Business
recorded a turnover of approximately HK$39 million (31st March 2024:
approximately HK$50 million), representing a decrease of approximately
22%. Intensified competition, subdued consumer sentiment, and economic
uncertainty exacerbated the decline. The Group optimised operations and
rationalised product offerings. These efforts, supported by stringent cost
controls, aimed to stabilise the segment’s performance.
海外
截至二零二五年三月三十一日止年度，本集团全
部海外附属公司的总营业额约为一亿二千四百万
港元，较去年的约一亿四千四百万港元整体减少
约13.9%。
截至二零二五年三月三十一日止年度，本集团南
非附属公司录得营业额约一亿四百万港元，较去
年约一亿一千九百万港元减少约12.6%。主要原
因是电气元件需求减少。尽管面临这些挑战，集
团仍实施了成本效益措施和库存优化，确保了业
务的健康发展。
按地区分类，香港、亚太地区（不包括香港）、南
非、欧洲及其他地区于回顾年度分别占本集团总
营业额约43%、17%、36%、3%及1%。
电脑业务
截至二零二五年三月三十一日止年度，电脑零售
业务录得营业额约一千万港元（二零二四年三月
三十一日：约一千三百万港元），减少约23.1%。
截至二零二五年三月三十一日止年度，电脑分
销业务的营业额录得下跌约20%至约四千四百万
港元（二零二四年三月三十一日：约五千五百万
港元）。尽管营业额下跌，电脑业务的毛利率仍
录得上升至约20.2%（二零二四年三月三十一日：
约19.8%），集团优化了营运效率并完善了产品供
应，在充满挑战的市场条件下增强了韧性。
化妆品及网上零售业务
于回顾年度内，化妆品及网上零售业务录得营业
额约为三千九百万港元（二零二四年三月三十一
日：约五千万港元），减少约22%。竞争加剧、
消费者信心低迷及经济不确定性导致业绩显著下
滑。集团优化营运和精简产品组合，及透过严格
成本控制的措施，旨在稳定业务表现。
万保刚集团有限公司 – 二零二四/二零二五年年报
Management Discussion and Analysis
管理层讨论及分析
Liquidity and Financial Resources
As at 31st March 2025, the Group’s cash and bank balances amounted
to approximately HK$26 million and the net current assets were
approximately HK$106 million. As at 31st March 2025, the current ratio
decreased to approximately 2.1 (as at 31st March 2024: approximately
2.2). Out of the Group’s cash and bank balances, about 40% and 18% were
denominated in Hong Kong dollars and United States dollars respectively.
The balance of approximately 2%, 20%, 11%, 1%, 7% and 1% of its
total cash and bank balances were denominated in Chinese Renminbi,
South African Rand, Malaysian Ringgit, New Taiwan dollars, Singapore
dollars, Euro and others respectively. The Group’s total assets amounted
to approximately HK$263 million (as at 31st March 2024: approximately
HK$274 million). Net assets per share amounted to approximately HK$0.8
(as at 31st March 2024: approximately HK$0.83). Dividend and basic loss
per share were approximately HK$0.0075 and HK$0.059 respectively (as
at 31st March 2024: approximately HK$0.01 and basic loss per share
HK$0.025 respectively).
The Group generally finances its operation by internal resources and
banking facilities provided by banks in Hong Kong. As at 31st March 2025,
the Group had banking facilities for overdrafts, loans and trade finance
from banks totaling approximately HK$89 million (as at 31st March 2024:
approximately HK$89 million), with an unused balance of approximately
HK$63 million (as at 31st March 2024: approximately HK$63 million).
The Directors believe that the Group’s existing financial resources
are sufficient to fulfill its current commitments and working capital
requirements.
Capital Structure
As at 31st March 2025, the total borrowings of the Group were
approximately HK$26 million (as at 31st March 2024: approximately
HK$26 million), which were in the form of short-term bank loans (including
short-term loans and trade finance) for financing the daily business
operations and future development plans. The majority of the Group’s bank
borrowings as at 31st March 2025 were denominated in Hong Kong dollars.
These short-term loans and trade finance were secured by the Company’s
corporate guarantees of approximately HK$76 million and the leasehold
properties and investment properties in Singapore, Portugal and South
Africa (as at 31st March 2024: approximately HK$76 million). During the
Year Under Review, the Group’s borrowings bore interest at rates ranging
from 3.08% to 12.7% per annum (as at 31st March 2024: ranging from
3.08% to 12.4% per annum).
流动资金及财政资源
于二零二五年三月三十一日，本集团之现金及
银行结余约为二千六百万港元，而流动资产净
值则约为一亿六百万港元。于二零二五年三月
三十一日，流动比率下跌至约2.1（于二零二四年
三月三十一日：约2.2）。于本集团的现金及银行
结余总额中，约40%及18%分别以港元及美元列
值。本集团现金及银行结余总额约2%、20%、
11%、1%、7%及1%的结余则分别以人民币、南
非兰特、马来西亚林吉特、新台币、新加坡元、
欧罗及其他货币列值。本集团之资产总值约为
二亿六千三百万港元（于二零二四年三月三十一
日：约二亿七千四百万港元）。每股资产净值约
为0.8港元（于二零二四年三月三十一日：约0.83
港元）。每股股息及基本亏损则分别约0.0075港元
及0.059港元（于二零二四年三月三十一日：分别
为约0.01港元及每股基本亏损0.025港元）。
本集团一般以内部所得资源及香港多家银行提供
之银行融资拨付其业务资金。于二零二五年三月
三十一日，本集团获多家银行提供银行融资作透
支、贷款及贸易融资之用，总额约八千九百万港
元（于二零二四年三月三十一日：约八千九百万
港元），其中约六千三百万港元（于二零二四年
三月三十一日：约六千三百万港元）结余尚未动
用。董事相信，本集团现有财务资源足以应付其
现时的承担及营运资金所需。
资本结构
于二零二五年三月三十一日，本集团以短期银
行贷款形式（包括短期贷款及贸易融资）取得之
借贷总额约为二千六百万港元（于二零二四年三
月三十一日：约二千六百万港元），可为日常业
务运作及日后拓展计划提供资金。于二零二五年
三月三十一日，本集团之银行借贷主要以港元列
值。该等短期贷款及贸易融资乃以本公司所提供
约七千六百万港元之公司担保以及于新加坡、葡
萄牙及南非的租赁物业及投资物业作抵押（于二
零二四年三月三十一日：约七千六百万港元）。
于回顾年度，本集团之借贷以介乎每年3.08%至
12.7%（于二零二四年三月三十一日：介乎每年
3.08%至12.4%）之利率计息。
Mobicon Group Limited – Annual Report 2024/2025
Management Discussion and Analysis
管理层讨论及分析
Gearing Ratio
As at 31st March 2025, the Group’s gross borrowings repayable within one
year, amounted to approximately HK$66 million (as at 31st March 2024:
approximately HK$62 million). After deducting cash and cash equivalents
of approximately HK$26 million, the Group’s net borrowings amounted
to approximately HK$40 million (as at 31st March 2024: approximately
HK$38 million). The total equity as at 31st March 2025 was approximately
HK$159 million (as at 31st March 2024: approximately HK$167 million).
Accordingly, the Group’s net gearing ratio, based on net borrowings to
total equity, remained at approximately 25% (as at 31st March 2024:
approximately 25%).
Exposure to Fluctuations in Exchange Rates
Most of the Group’s transactions were denominated in Hong Kong dollars,
Chinese Renminbi and United States dollars. Given that the exchange rate
of Hong Kong dollars against Chinese Renminbi has been and is likely to
be under control and that the Hong Kong Government’s policy of pegging
the Hong Kong dollars to the United States dollars remains in effect, the
Directors consider that the risk facing by the Group on foreign exchange
will remain minimal and no hedging or other alternative measures have
been undertaken by the Group. As at 31st March 2025, the Group had no
significant risk exposure pertaining to foreign exchange contracts, interest
rates, currency swaps, or other financial derivatives.
Charges on Assets
As at 31st March 2025, the properties with carrying value of approximately
HK$26 million have been pledged to secure the general banking facilities
granted to the Group’s subsidiaries in Singapore, Portugal and South
Africa.
Contingent Liabilities
The Group had no contingent liabilities as at 31st March 2025.
资产负债比率
于二零二五年三月三十一日，本集团须于一年
内偿还之借贷总额约为六千六百万港元（于二零
二四年三月三十一日：约六千二百万港元）。扣
除现金及现金等值物约二千六百万港元后，本
集团借贷净额约为四千万港元（于二零二四年三
月三十一日：约三千八百万港元）。于二零二五
年三月三十一日之权益总额约为一亿五千九百
万港元（于二零二四年三月三十一日：约
一亿六千七百万港元）。因此，本集团净资产负
债比率（按借贷净额除权益总额计算）维持在约
25%（于二零二四年三月三十一日：约25%）。
汇率波动风险
本集团大部分交易以港元、人民币及美元列值。
鉴于港元兑人民币之汇率已一直并极可能继续保
持稳定，加上香港政府仍然实施港元与美元挂钩
之政策，故董事认为，本集团承受之外汇风险将
属轻微，而本集团暂时亦没有采取任何对冲或其
他替代措施。于二零二五年三月三十一日，本集
团并无承担任何有关外汇合约、利率、货币掉期
或其他金融衍生工具之重大风险。
资产抵押
于二零二五年三月三十一日，本集团已将账面值
约二千六百万港元之物业作抵押，作为本集团于
新加坡、葡萄牙及南非的附属公司获授之一般银
行融资额度之抵押品。
或然负债
于二零二五年三月三十一日，本集团并无任何或
然负债。
万保刚集团有限公司 – 二零二四/二零二五年年报
Management Discussion and Analysis
管理层讨论及分析
Employment, Training and Remuneration
Policy
As at 31st March 2025, the Group had a total of 355 full-time employees
inclusive of its staff in Hong Kong and overseas subsidiaries. The Group
has developed its human resources policies and procedures based on the
performance, merits and market conditions. Remuneration packages are
normally reviewed on a regular basis. Apart from salary payments, other
staff benefits include provident fund contributions, medical insurance
coverage and performance-based bonuses (based on the Group’s financial
results as well as individual performance).
Significant Investment, Material Acquisitions
and Disposals of Subsidiaries and Associated
Companies
Save as disclosed in this annual report, the Group did not have any
significant investment, material acquisition and disposals of subsidiaries
and associated companies during the Year Under Review.
雇员、培训及薪酬政策
于二零二五年三月三十一日，本集团在香港及海
外附属公司合共雇用355名全职员工。本集团已
制定其按表现、功绩及市况厘定之人力资源政策
及程序。薪酬组合一般会定期检讨。除了支付薪
金外，其他员工福利包括强积金供款、医疗保险
及个人表现花红（因应本集团财务业绩及个人表
现）。
重大投资、重大收购及出售附属公
司及联营公司
除本年报所披露者外，本集团于回顾年度内并无
任何重大投资、重大收购及出售附属公司及联营
公司。
Mobicon Group Limited – Annual Report 2024/2025
Directors’ and Senior Management’s Profile
董事及高级管理层简介
Executive Directors
Hung Kim Fung, Measure,
aged 64, Executive Director
was the founder of the Group and is the Chairman of the Company
(the “Chairman”). He obtained an Honorary Doctorate in Business
Administration from Newport University in the United States. Dr. Hung
has more than 40 years of experience in the electronics industry, and is
responsible for the Group’s strategic planning and corporate policies.
Since 1995, Dr. Hung has been a member of the Executive Committee of
the Hong Kong Electronic Industries Association Limited (the “HKEIA”) and
was nominated as Honorary Vice-chairman of the HKEIA in 2015.
Dr. Hung is also the Group 20 Honorary Chairman (Non-manufacturing II:
Trading (Hong Kong Trade Services Council)) of the Federation of Hong
Kong Industries and the School Manager of De La Salle Secondary School
New Territories.
Dr. Hung is the husband of Ms. Yeung Man Yi, Beryl, the Deputy Chairman
and CEO of the Company, the brother of Mr. Hung Ying Fung, Measure, an
executive director of the Company and the brother-in-law of Mr. Yeung
Kwok Leung, Allix, who is also an executive director of the Company. He is
also the father of Ms. Hung Lok Lam, Joyce and Mr. Hung Lok Tin, who are
both senior management of the Company.
Save for currently being an executive Director, Dr. Hung did not hold any
directorship in the last three years in public companies the securities of
which are listed on any securities market in Hong Kong or overseas, nor
did he hold any major appointments nor professional qualifications. Save
as disclosed in the paragraph headed “Directors’ and Chief Executive’s
Interests in Equity and Debt Securities” in the report of the Directors in
this annual report, Dr. Hung was not interested in any Shares within the
meaning of Part XV of the Securities and Futures Ordinance (the “SFO”) as
at 31st March 2025. Save as disclosed above, Dr. Hung does not have any
relationship with any other Directors, senior management or substantial or
controlling shareholders of the Company.
执行董事
洪剑峰，
64岁，执行董事
为本集团之创办人及本公司主席（「主席」）。彼持
有美国洛普大学工商管理荣誉博士学位。洪博士
于电子行业累积逾40年经验，负责本集团的策略
规划及企业政策。
洪博士自一九九五年起一直出任香港电子业商会
（「HKEIA」）执行委员会会员，并于二零一五年获
委任为HKEIA的荣誉副会长。
洪博士亦是香港工业总会第20分组（第II类非制造
业－贸易（香港贸易服务业协会））荣誉主席和新
界喇沙中学校董。
洪博士为本公司副主席及行政总裁杨敏仪女士之
丈夫，亦是本公司执行董事洪英峰先生之胞兄及
本公司执行董事杨国梁先生之姐夫。彼亦是本公
司高级管理层成员洪乐琳女士及洪乐天先生之父
亲。
除现出任执行董事一职外，洪博士过去三年间并
无于其证券在任何香港或海外证券市场上市之
上市公司担任任何董事职位，亦无持有任何主要
的任命或专业资格。除本年报董事会报告之「董
事及主要行政人员于股本及债务证券之权益」一
段中所披露者外，于二零二五年三月三十一日，
洪博士概无于任何股份（定义见证券及期货条例
（「证券及期货条例」）第XV部）中拥有权益。除上
文所披露者外，洪博士与任何其他本公司董事、
高级管理层、主要股东或控股股东之间并无任何
关系。
万保刚集团有限公司 – 二零二四/二零二五年年报
Directors’ and Senior Management’s Profile
董事及高级管理层简介
杨敏仪，
63岁，执行董事
为本集团之创办人及本公司副主席（「副主席」）兼
行政总裁（「行政总裁」）。杨女士于电子业累积逾
40年经验，负责本集团之财务、行政管理及内部
监控。
杨女士于二零零四年获香港工业专业评审局颁发
电子业副院士一衔，以表扬彼在电子业方面的专
业知识、对现有及崭新先进科技的广泛应用及对
业界所作出的贡献与成就。于二零零六年，杨女
士取得美国林肯大学的工商管理硕士学位。
杨女士在电子工程业界的宝贵经验和知识备受肯
定，并获香港城市大学电子工程系邀请出任客席
教授（二零一四至二零一五年度）及出任香港贸易
发展局电子及家电业咨询委员会委员（二零一零
至二零一四年度）。彼为本公司主席洪剑峰博士
之妻子及本公司执行董事杨国梁先生之胞姊。杨
女士亦是本公司执行董事洪英峰先生的大嫂，以
及本公司高级管理层成员洪乐琳女士及洪乐天先
生之母亲。
除现出任执行董事一职外，杨女士过去三年间并
无于其证券在任何香港或海外证券市场上市之上
市公司担任任何董事职位，亦无持有任何主要的
任命或专业资格。除本年报董事会报告之「董事
及主要行政人员于股本及债务证券之权益」一段
中所披露者外，于二零二五年三月三十一日，杨
女士概无于任何股份（定义见证券及期货条例第
XV部）中拥有权益。除上文所披露者外，杨女士
与任何其他本公司董事、高级管理层、主要股东
或控股股东之间并无任何关系。
Yeung Man Yi, Beryl,
aged 63, Executive Director
was the founder of the Group and is the Deputy Chairman (the “Deputy
Chairman”) and the Chief Executive Officer (the “CEO”) of the Company.
With more than 40 years of experience in the electronics industry, Ms.
Yeung is responsible for the Group’s finance, administration and internal
control.
In 2004, Ms. Yeung was also made an Associate (Electronics Industry) by
The Professional Validation Council of Hong Kong, in recognition of her
professional knowledge in electronics, extensive application of existing
and new technology, achievements and contributions to the industry. In
2006, Ms. Yeung obtained the Master Degree of Business Administration
from Lincoln University in the United States.
In recognition of her valuable experience and knowledge in the electronics
engineering industry, Ms. Yeung was invited to be the Adjunct Professor
in the Department of Electronic Engineering, City University of Hong Kong
(2014– 2015) and Advisory Committee (2010–2014) of Hong Kong Trade
Development Council Electronics/Electrical Appliances Industries. She is
the wife of the Chairman of the Company, Dr. Hung Kim Fung, Measure
and the sister of an executive director of the Company, Mr. Yeung Kwok
Leung, Allix. Ms. Yeung is also the sister-in-law of Mr. Hung Ying Fung,
an executive director of the Company, and the mother of Ms. Hung Lok
Lam, Joyce and Mr. Hung Lok Tin, who are both senior management of the
Company.
Save for currently being an executive Director, Ms. Yeung did not hold any
directorship in the last three years in public companies the securities of
which are listed on any securities market in Hong Kong or overseas, nor
did she hold any major appointments nor professional appointments. Save
as disclosed in the paragraph headed “Directors’ and Chief Executive’s
Interests in Equity and Debt Securities” in the report of the Directors in
this annual report, Ms. Yeung was not interested in any Shares within the
meaning of Part XV of the SFO as at 31st March 2025. Save as disclosed
above, Ms. Yeung does not have any relationship with any other Directors,
senior management or substantial or controlling shareholders of the
Company.
Mobicon Group Limited – Annual Report 2024/2025
Directors’ and Senior Management’s Profile
董事及高级管理层简介
洪英峰，
61岁，执行董事
为本集团之创办人及本公司执行董事。彼负责本
集团之管理与电脑及化妆品零售业务发展工作，
且彼于电子业累积逾38年经验。于二零二四年，
彼获选为香港电脑商会之主席。洪先生亦获选为
深水埗工商业联络委员会委员（二零二一至二零
二三年度）。彼为洪剑峰博士之胞弟。
除现出任执行董事一职外，洪先生过去三年间并
无于其证券在任何香港或海外证券市场上市之
上市公司担任任何董事职位。除本年报董事会
报告之「董事及主要行政人员于股本及债务证券
之权益」一段中所披露者外，于二零二五年三月
三十一日，洪先生概无于任何股份（定义见证券
及期货条例第XV部）中拥有权益。除上文所披露
者外，洪先生与任何其他本公司董事、高级管理
层、主要股东或控股股东之间并无任何关系。
杨国梁，
62岁，执行董事
为本集团之创办人及本公司执行董事。杨先生负
责本集团中国及亚太地区之零售业务管理及业务
发展。彼于电子及电脑业累积逾39年经验。彼为
杨敏仪女士之胞弟、本公司主席洪剑峰先生之小
舅以及本公司执行董事洪英峰先生之姻亲兄弟。
杨先生亦为本公司高级管理层洪乐琳女士及洪乐
天先生之舅舅。
除现出任执行董事一职外，杨先生过去三年间并
无于其证券在任何香港或海外证券市场上市之上
市公司担任任何董事职位，亦无持有任何主要的
任命或专业资格。除本年报董事会报告之「董事
及主要行政人员于股本及债务证券之权益」一段
中所披露者外，于二零二五年三月三十一日，杨
先生概无于任何股份（定义见证券及期货条例第
XV部）中拥有权益。除上文所披露者外，杨先生
与任何其他本公司董事、高级管理层、主要股东
或控股股东之间并无任何关系。
Hung Ying Fung,
aged 61, Executive Director
was the founder of the Group and is an executive director of the Company.
He is responsible for the management and both the computer and
cosmetic retail business development of the Group and has over 38 years
of experience in the electronics industry. In 2024, He was elected as
the chairman of the Chamber of Hong Kong Computer Industry Company
Limited. Mr. Hung was served as an executive member of the Sham Shui Po
District Commerce & Industrial Liaison Committee (2021–2023). He is the
brother of Dr. Hung Kim Fung, Measure.
Save for currently being an executive Director, Mr. Hung did not hold any
directorship in the last three years in public companies the securities of
which are listed on any securities market in Hong Kong or overseas. Save
as disclosed in the paragraph headed “Directors’ and Chief Executive’s
Interests in Equity and Debt Securities” in the report of the Directors in
this annual report, Mr. Hung was not interested in any Shares within the
meaning of Part XV of the SFO as at 31st March 2025. Save as disclosed
above, Mr. Hung does not have any relationship with any other Directors,
senior management or substantial shareholders or controlling shareholders
of the Company.
Yeung Kwok Leung, Allix,
aged 62, Executive Director
was the founder of the Group and is an executive director of the Company.
Mr. Yeung is responsible for the management and business development
of the retail business in the PRC and Asia Pacific region of the Group. He
has over 39 years of experience in the electronics and computer industry.
He is the brother of Ms. Yeung Man Yi, Beryl, the brother-in-law of Dr.
Hung Kim Fung, Measure, the Chairman of the Company and Mr. Hung Ying
Fung, an executive director of the Company. Mr. Yeung is also the uncle
of Ms. Hung Lok Lam, Joyce and Mr. Hung Lok Tin, who are both senior
management of the Company.
Save for currently being an executive Director, Mr. Yeung did not hold any
directorship in the last three years in public companies the securities of
which are listed on any securities market in Hong Kong or overseas, nor
did he hold any major appointments nor professional qualifications. Save
as disclosed in the paragraph headed “Directors’ and Chief Executive’s
Interests in Equity and Debt Securities” in the report of the Directors in
this annual report, Mr. Yeung was not interested in any Shares within the
meaning of Part XV of the SFO as at 31st March 2025. Save as disclosed
above, Mr. Yeung does not have any relationship with any other Directors,
senior management or substantial or controlling shareholders of the
Company.
万保刚集团有限公司 – 二零二四/二零二五年年报
Directors’ and Senior Management’s Profile
董事及高级管理层简介
独立非执行董事
梁伟祥，
61岁，独立非执行董事
自二零零一年四月十九日起为本公司之独立非执
行董事。梁博士乃合资格会计师、特许秘书及
特许管治专业人士，于会计、审计及财务管理方
面累积逾38年经验。彼持有工商管理博士后、法
务会计及审计哲学博士学位、管理学哲学博士学
位、教育管理博士学位、工商管理博士学位、名
誉会计学博士学位，金融与战略理学硕士学位、
专业会计硕士学位、国际与商业法法学硕士学
位、企业管理研究生文凭、商学士学位（主修会
计）及法务会计文凭。彼为香港会计师公会、加
拿大不列颠哥伦比亚省特许专业会计师、澳洲执
业会计师公会、特许公司治理公会及香港税务学
会之会员、英格兰及威尔斯特许会计师公会之资
深会员以及英国特许公认会计师公会之资深会
员。梁博士亦为香港大学专业进修学院客席讲
师。彼现任为AV策划推广（控股）有限公司（股份
代号：8419）之独立非执行董事及HM International
Holdings Limited（股份代号：8416）之首席财务官。
除上文所披露者外，梁博士过去三年间并无于其
股份在任何香港或海外证券市场上市之上市公
司担任任何董事职位。彼与任何本公司董事、高
级管理层、主要股东或控股股东之间并无任何关
连，亦无于须根据证券及期货条例第XV部披露之
股份中拥有任何权益。
Independent Non-executive Directors
Leung Wai Cheung,
aged 61, Independent Non-executive Director
is an independent non-executive director of the Company since 19th
April 2001. Dr. Leung is a qualified accountant, chartered secretary and
Chartered Governance Professional with over 38 years of experience
in accounting, auditing and financial management. He holds the Post-
Doctoral in Business Administration, the Doctor of Philosophy degree in
Forensic Accounting and Auditing, the Doctor of Philosophy degree in
Management, the Doctor of Education degree in Educational Management,
a Doctor of Business Administration degree, a Honorary Doctor of
Accounting, a Master of Science in Finance and Strategy, a Master of
Professional Accounting degree, a Master of Law in International and
Commercial Law, a Postgraduate Diploma in Corporate Administration,
a Bachelor of Commerce degree majoring in Accounting, and a Diploma
in Forensic Accounting. He is an associate member of each of the Hong
Kong Institute of Certified Public Accountants, Chartered Professional
Accountants of British Columbia, Canada, CPA Australia, Chartered
Governance Institute and the Taxation Institute of Hong Kong and a fellow
member of the Association of Chartered Certified Accountants and the
Institute of Chartered Accountants in England & Wales. Dr. Leung is also
an adjunct lecturer of the Hong Kong University (SPACE). He is currently
an independent non-executive director of AV Promotions Holdings Limited
(stock code: 8419), and chief financial officer of HM International Holdings
Limited (stock code: 8416).
Save as disclosed above, Dr. Leung did not hold any directorship in the
last three years in public companies the shares of which are listed on any
securities markets in Hong Kong or overseas. He is not connected with
any Directors, senior management, substantial or controlling shareholders
of the Company, nor does he have any interests in the Shares which are
required to be disclosed pursuant to Part XV of the SFO.
Mobicon Group Limited – Annual Report 2024/2025
Directors’ and Senior Management’s Profile
董事及高级管理层简介
古永康，
69岁，独立非执行董事
自二零一一年五月二十五日起为本公司之独立非
执行董事。彼分别于一九七九年及一九八五年
获香港中文大学颁授社会科学荣誉学士学位及教
育文凭。彼于一九八一年加入新界喇沙中学，并
于二零零四年九月获委任为该校校长。彼于二零
一六年八月年满六十岁退休。古先生曾任香港学
界体育联会（「联会」）大埔及北区中学分会副主席
兼联会比赛委员会主席。彼亦曾任北区中学校长
会副主席，现为香港喇沙修士会教育议会委员。
除上文所披露者外，古先生过去三年间并无于其
证券在任何香港或海外证券市场上市之上市公司
担任任何董事职位，亦无持有任何主要的任命或
专业资格。彼与任何本公司董事、高级管理层、
主要股东或控股股东之间并无任何关连，亦无于
须根据证券及期货条例第XV部披露之股份中拥有
任何权益。
叶富华，
66岁，独立非执行董事
自二零二二年八月三十一日起为本公司之独立非
执行董事。彼分别于金融及行政界别拥有超过25
年经验。彼最初于英国开始其职业生涯，其后加
入一家国际公司担任助理审计经理直至一九八九
年。随后，叶先生于美国从事物业投资及贸易业
务，投身于商业领域。于二零零一年至二零一三
年，彼加入香港一家上市公司，担任公司秘书及
公司董事长助理。于二零零零年，彼成立自己的
咨询公司，为于香港及海外成立的公司提供咨询
服务。
彼于一九八一年获得伦敦大学学院数学学士学
位。彼自一九八八年五月起成为英格兰及威尔士
特许会计师公会会员。彼亦为香港会计师公会非
执业会员。
除上文所披露者外，叶先生过去三年间并无于其
证券在任何香港或海外证券市场上市之上市公司
担任任何董事职位，亦无持有任何主要的任命或
专业资格。彼与任何本公司董事、高级管理层、
主要股东或控股股东之间并无任何关连，亦无于
须根据证券及期货条例第XV部披露之股份中拥有
任何权益。
Ku Wing Hong, Eric,
aged 69, Independent Non-executive Director
is an independent non-executive director of the Company since 25th May
2011. He obtained an Honorary Bachelor’s Degree in Social Sciences and
a Diploma in Education from the Chinese University of Hong Kong in 1979
and 1985 respectively. He joined De La Salle Secondary School, NT in 1981
and was appointed Principal of the School in September 2004. He retired
in August 2016 at the age of 60. Mr. Ku has been the Vice-chairman of
the Tai Po & North District Secondary Schools Area Committee of Hong
Kong Schools Sports Federation (the “Federation”) and the Chairman in the
Federation’s Tai Po & North District Competition Committee. He has also
been the Vice- chairman of the North District Secondary School Principals’
Association and is currently a member of the Hong Kong Lasallian
Education Council.
Save as disclosed above, Mr. Ku did not hold any directorship in the last
three years in public companies the shares of which are listed on any
securities markets in Hong Kong or overseas, nor did he hold any major
appointments nor professional qualifications, nor did he hold any major
appointments nor professional qualifications. He is not connected with
any Directors, senior management, substantial or controlling shareholders
of the Company, nor does he have any interests in the Shares which are
required to be disclosed pursuant to Part XV of the SFO.
Ip Fu Wa, Benthony,
aged 66, Independent Non-executive Director
is an independent non-executive director of the Company since 31st
August 2022. He has over 25 years in the finance and administration
sectors. He first started his career in England and later joined an
international firm as an assistant audit manager until 1989. Mr. Ip then
pursued his career in the commercial sector by involving in property
investment in the U.S. and engaging in the trading operations. From 2001
to 2013, he joined a listed company in Hong Kong and worked as the
company secretary and assistant to the company’s chairman. In 2000, he
established his own consultancy firm to provide consulting services to
companies established in Hong Kong and overseas.
He obtained a bachelor’s degree in mathematics from University
College London in 1981. He has been a member of Institute of Chartered
Accountants in England and Wales since May 1988. He is also a non-
practising member of Hong Kong Institute of Certified Public Accountants.
Save as disclosed above, Mr. Ip did not hold any directorship in the last
three years in public companies the shares of which are listed on any
securities markets in Hong Kong or overseas, nor did he hold any major
appointments nor profession qualifications, nor did he hold any major
appointments nor professional qualifications. He is not connected with
any Directors, senior management, substantial or controlling shareholders
of the Company, nor does he have any interests in the Shares which are
required to be disclosed pursuant to Part XV of the SFO.
万保刚集团有限公司 – 二零二四/二零二五年年报
Directors’ and Senior Management’s Profile
董事及高级管理层简介
高级管理层
Manuel Arnaldo de Sousa Moutinho，
67岁，高级管理人员
于二零一三年六月至二零一六年三月三十一日
期间为本公司执行董事。纵使辞任了本公司之
执行董事职务，彼仍为本公司五间附属公司之
董事，包括Langa Holdings (Proprietary) Limited、
MBM Properties (Proprietary) Limited（前称AP Electronics
(Proprietary) Limited）、 Mantech Electronics (Proprietary)
Limited （「Mantech Electronics 」）、 Mobicon International
Limited及Mobicon-Mantech Holdings Limited。Moutinho
先生自二零一四年二月起获Portuguese World Council
委任为葡萄牙侨民顾问。
Moutinho先生负责本集团之南非和葡萄牙的业
务运作。彼于二零零一年十二月加入本集团（当
时Mantech Electronics获本集团收购），并于二零
一三年六月成为本公司执行董事。 Moutinho先生
于一九八二年自约翰内斯堡大学（前称Technikon
Witwatersrand）取得国家电子专业证书，并于
一九七七年毕业于南非Johannesburg Technical
College。彼为合资格电力技术工程人员。
除上文所披露者外，Moutinho先生过去三年间并
无于其股份在任何香港或海外证券市场上市之上
市公司担任任何董事职位。彼与任何本公司董
事、高级管理层、主要股东或控股股东之间并无
任何关连，亦无于须根据证券及期货条例第XV部
披露之股份中拥有任何权益。
蔡浩贤，
40岁，高级管理人员
为本集团之财务总监及本公司之公司秘书。彼负
责本集团之财务管理。蔡先生为香港会计师公会
会员以及英格兰及威尔斯特许会计师公会会员。
蔡先生于二零一六年九月加入本集团。彼于二零
二四年毕业于南澳大学，取得工商管理（金融）硕
士学位。彼于审计及会计方面累积逾15年经验。
Senior Management
Manuel Arnaldo de Sousa Moutinho,
aged 67, Senior Management
has been an executive director of the Company from June 2013 to 31st
March 2016. Despite his resignation as an executive director of the
Company, he is the director of five subsidiaries of the Company, namely
Langa Holdings (Proprietary) Limited, MBM Properties (Proprietary)
Limited (formerly known as AP Electronics (Proprietary) Limited), Mantech
Electronics (Proprietary) Limited (“Mantech Electronics”), Mobicon
International Limited and Mobicon-Mantech Holdings Limited. Mr.
Moutinho has been appointed as an advisor to the Portuguese diaspora by
Portuguese World Council since February 2014.
Mr. Moutinho is responsible for the business operations of the Group in
South Africa and Portugal. He joined the Group in December 2001 when
Mantech Electronics was acquired by the Group and became an executive
director of the Company in June 2013. Mr. Moutinho obtained his national
certificate in Electronics from the University of Johannesburg (formerly
known as Technikon Witwatersrand) in 1982 and matriculated at the
Johannesburg Technical College in South Africa in 1977. He is a qualified
electrical technician engineer.
Save as disclosed above, Mr. Moutinho did not hold any directorship in
the last three years in public companies the shares of which are listed on
any securities markets in Hong Kong or overseas. He is not connected with
any Directors, senior management, substantial or controlling shareholders
of the Company, nor does he have any interests in the Shares which are
required to be disclosed pursuant to Part XV of the SFO.
Tsoi Ho Yin,
aged 40, Senior Management
is the financial controller of the Group and the company secretary of the
Company. He is responsible for the financial management of the Group.
Mr. Tsoi is a member of the Hong Kong Institute of Certified Public
Accountants and a member of the Institute of Chartered Accountants in
England and Wales. Mr. Tsoi joined the Group in September 2016. He
graduated from the University of South Australia in 2024 with a Master
of Business Administration (Finance). He has more than 15 years of
experience in auditing and accounting.
Mobicon Group Limited – Annual Report 2024/2025
Directors’ and Senior Management’s Profile
董事及高级管理层简介
除上文所披露者外，蔡先生过去三年间并无于其
股份在任何香港或海外证券市场上市之上市公
司担任任何董事职位。彼与任何本公司董事、高
级管理层、主要股东或控股股东之间并无任何关
连，亦无于须根据证券及期货条例第XV部披露之
股份中拥有任何权益。
洪乐琳，
35岁，高级管理人员
为脑博仕（香港）有限公司之业务发展经理。洪女
士于二零一一年八月加入本集团，负责监督本集
团之产品开发及品牌管理工作，并负责采购及向
本集团客户推广各式各样的化妆品。洪女士持有
香港大学颁发之社会科学学士学位（心理学）。彼
为洪剑峰博士及杨敏仪女士之女儿、洪英峰先生
之侄女及杨国梁先生之外甥女，彼等全部为本公
司执行董事。
除上文所披露者外，洪女士过去三年间并无于其
股份在任何香港或海外证券市场上市之上市公司
担任任何董事职位。除上文所披露者外，彼与任
何本公司董事、高级管理层、主要股东或控股股
东之间并无任何关连，亦无于须根据证券及期货
条例第XV部披露之股份中拥有任何权益。
洪乐天，
34岁，高级管理人员
为万保刚集团有限公司之业务发展经理。洪先生
于二零一三年一月加入本集团，负责监督本集团
之产品开发、采购及品牌管理工作。洪先生持有
澳洲国立大学颁发之亚太区研究学士学位。洪先
生为洪剑峰博士及杨敏仪女士之儿子、洪英峰先
生之侄儿及杨国梁先生之外甥，彼等全部为本公
司执行董事。
除上文所披露者外，洪先生过去三年间并无于其
股份在任何香港或海外证券市场上市之上市公司
担任任何董事职位。除上文所披露者外，彼与任
何本公司董事、高级管理层、主要股东或控股股
东之间并无任何关连，亦无于须根据证券及期货
条例第XV部披露之股份中拥有任何权益。
Save as disclosed above, Mr. Tsoi did not hold any directorship in the
last three years in public companies the shares of which are listed on any
securities markets in Hong Kong or overseas. He is not connected with
any Directors, senior management, substantial or controlling shareholders
of the Company, nor does he have any interests in the Shares which are
required to be disclosed pursuant to Part XV of the SFO.
Hung Lok Lam, Joyce,
aged 35, Senior Management
is the business development manager of Videocom Technology (HK)
Limited. Ms. Hung joined the Group in August 2011 and is responsible
for overseeing the product development and brand management of, and
merchandising and marketing wide range of cosmetic products for the
customers of the Group. Ms. Hung holds a Bachelor of Social Sciences
degree in Psychology from The University of Hong Kong. She is the
daughter of Dr. Hung Kim Fung, Measure and Ms. Yeung Man Yi, Beryl, the
niece of Mr. Hung Ying Fung and the niece of Mr. Yeung Kwok Leung, Allix,
all of whom are executive directors of the Company.
Save as disclosed above, Ms. Hung did not hold any directorship in the
last three years in public companies the shares of which are listed on any
securities markets in Hong Kong or overseas. Saved as disclosed above,
she is not connected with any Directors, senior management, substantial
or controlling shareholders of the Company, nor does she have any
interests in the Shares which are required to be disclosed pursuant to Part
XV of the SFO.
Hung Lok Tin,
aged 34, Senior Management
is the business development manager of Mobicon Group Limited. Mr.
Hung joined the Group in January 2013 and is responsible for overseeing
the product development, merchandising and brand management of the
Group. Mr. Hung holds a Bachelor of Asia-Pacific Studies degree from
the Australian National University. He is the son of Dr. Hung Kim Fung,
Measure and Ms. Yeung Man Yi, Beryl, the nephew of Mr. Hung Ying Fung
and the nephew of Mr. Yeung Kwok Leung, Allix, all of whom are executive
directors of the Company.
Save as disclosed above, Mr. Hung did not hold any directorship in the
last three years in public companies the shares of which are listed on any
securities markets in Hong Kong or overseas. Saved as disclosed above,
he is not connected with any Directors, senior management, substantial or
controlling shareholders of the Company, nor does he have any interests in
the Shares which are required to be disclosed pursuant to Part XV of the
SFO.
万保刚集团有限公司 – 二零二四/二零二五年年报
Directors’ and Senior Management’s Profile
董事及高级管理层简介
徐宙石，
58岁，高级管理人员
为马来西亚Mobicon-Remote Electronic Sdn. Bhd.及新
加坡Mobicon-Remote Electronic Pte Ltd.之总经理。
彼毕业于马来西亚Federal Institute of Technology，
持有电子工程文凭。徐先生于二零零一年七月加
入本集团，于分销电子元件及测试和测量仪器方
面累积逾30年经验。彼现负责上述两间公司遍及
东南亚之整体业务运作。
除上文所披露者外，徐先生过去三年间并无于其
股份在任何香港或海外证券市场上市之上市公
司担任任何董事职位。彼与任何本公司董事、高
级管理层、主要股东或控股股东之间并无任何关
连，亦无于须根据证券及期货条例第XV部披露之
股份中拥有任何权益。
Chooi Chow Sek, Jasmond,
aged 58, Senior Management
is the general manager of Mobicon-Remote Electronic Sdn. Bhd. in
Malaysia and Mobicon-Remote Electronic Pte Ltd. in Singapore. He
graduated from Federal Institute of Technology in Malaysia with a Diploma
in Electronic Engineering. Mr. Chooi joined the Group in July 2001 and
has over 30 years of experience in distribution of electronic components
and test and measurement instruments. He is currently responsible for the
overall operation of these two companies covering Southeast Asia.
Save as disclosed above, Mr. Chooi did not hold any directorship in the
last three years in public companies the shares of which are listed on any
securities markets in Hong Kong or overseas. He is not connected with
any Directors, senior management, substantial or controlling shareholders
of the Company, nor does he have any interests in the Shares which are
required to be disclosed pursuant to Part XV of the SFO.
Mobicon Group Limited – Annual Report 2024/2025
Corporate Governance Report
企业管治报告书
Corporate Governance Practices
The Board is committed to principles of corporate governance practices
and procedures. The corporate governance principles of the Company
emphasise transparency, accountability and independence.
The Company has complied with the Code Provisions as set out in the
Corporate Governance Code (the “Code”) in Appendix C1 to the Rules
Governing the Listing of Securities on the Stock Exchange (the “Listing
Rules”) during the Year Under Review except for the following deviations:
Code Provision B.2.2 of the Code provides that every director, including
those appointed for a specific term, should be subject to retirement
by rotation at least once every three years. However, the Bye-laws
of the Company provides that the Chairman and the Deputy Chairman
will not be subject to retirement by rotation or be taken into account
in determining the number of directors to retire. As continuation of the
services of the Chairman and the Deputy Chairman is a key factor to the
successful implementation of any long term business plan, the Board
believes that present arrangement is most beneficial to the Company and
the shareholders as a whole. Save for Mr. Ip Fu Wa, Benthony who was
appointed as an independent non-executive director (the “INED”) for a
term of two years since 31st August 2022 and a further term of two years
commencing from 1st September 2024, the other INEDs are not appointed
for a specific term, all the INEDs are subject to retirement by rotation and
re-election at the annual general meeting of the Company under Bye-law
111 of the Company’s Bye-laws.
Directors’ Securities Transactions
The Company has adopted its own Securities Dealing Code on terms no
less exacting than the required standard as set out in the Model Code in
Appendix C3 to the Listing Rules. Upon specific enquiry by the Company,
all directors have confirmed that they fully complied with the required
standard set out in the Securities Dealing Code throughout the Year Under
Review.
企业管治常规
董事会致力遵守企业管治常规之原则及程序。本
公司的企业管治原则强调透明度、问责性及独立
性。
本公司于回顾年度一直遵守联交所证券上市规则
（「上市规则」）附录C1所载企业管治守则（「守则」）
之守则条文，惟下列偏离情况除外：
守则之守则条文第B.2.2条规定，各董事（包括任
期为指定长度之董事）须最少每三年轮值退任一
次。然而，本公司之公司细则规定，主席及副主
席毋须轮值告退，于决定董事告退人数时亦不会
被计算在内。基于主席及副主席能否持续提供服
务乃成功推行任何长期业务计划之重要因素，董
事会相信现时之安排对本公司及股东整体而言最
为有利。除叶富华先生获委任为独立非执行董事
（「独立非执行董事」），自二零二二年八月三十一
日起为期两年及自二零二四年九月一日起额外两
年外，其他独立非执行董事均无获委任特定任
期，全部独立非执行董事须根据本公司之公司细
则第111条，于本公司股东周年大会轮值告退及
重选连任。
董事进行证券交易
本公司已采纳其本身之证券买卖守则，该守则之
条款不会较上市规则附录C3标准守则所订规定准
则宽松。经本公司作出特定查询后，全体董事已
确认彼等于整个回顾年度内全面遵守证券买卖守
则所订规定准则。
万保刚集团有限公司 – 二零二四/二零二五年年报
Corporate Governance Report
企业管治报告书
Board of Directors
The Board is collectively responsible for overseeing the management of the
business and affairs of the Group with the objective of enhancing share
value.
The Board comprises a total of seven directors, with four executive
directors, namely Dr. Hung Kim Fung, Measure (Chairman), Ms. Yeung Man
Yi, Beryl (Deputy Chairman and Chief Executive Officer), Mr. Hung Ying
Fung, and Mr. Yeung Kwok Leung, Allix and three INEDs, namely, Mr. Ip
Fu Wa, Benthony, Dr. Leung Wai Cheung and Mr. Ku Wing Hong, Eric. One
of the INEDs has appropriate professional qualifications, or accounting or
related financial management expertise, which is required by the Listing
Rules. Ms. Yeung Man Yi, Beryl is the wife of Dr. Hung Kim Fung, Measure.
She is also the sister of Mr. Yeung Kwok Leung, Allix. Mr. Hung Ying Fung
is the brother of Dr. Hung Kim Fung, Measure.
Each of the INEDs has made an annual confirmation of independence
pursuant to Rule 3.13 of the Listing Rules. The Company is of the view
that all INEDs meet the independence guidelines set out in Rule 3.13 of
the Listing Rules and are independent in accordance with the terms of the
guidelines.
The Board composition will be reviewed regularly to ensure that it has a
balance of skills, experience and diversity appropriate for the requirements
of the business of the Group. To enhance the standard of corporate
governance, the Company also adopted a board diversity policy on 29th
August 2013. The directors’ biographical information is set out on pages 16
to 23 of this annual report.
The Board, led by the Chairman, is responsible for the approval and
monitoring of the Group’s long term and short term investments, business
strategies and annual budgets, evaluating the performance of the Group
and oversight of the management. One of the important roles of the
Chairman is to provide leadership to the Board such that the Board acts
in the best interests of the Group. The Chairman shall ensure that the
Board works effectively and discharges its responsibilities, and that all key
and appropriate issues are discussed and approved by the Board before
execution. All directors have been consulted about any matters proposed
for inclusion in the agenda. The Chairman has delegated the responsibility
for drawing up the agenda for each Board meeting to the Company
Secretary. With the support of the Company Secretary, the Chairman seeks
to ensure that all directors are properly briefed on issues arising at Board
meetings and adequate and reliable information is given to the Board in a
timely manner.
董事会
董事会共同负责监督本集团的业务及事务管理，
以提升股份价值为目标。
董事会由七名董事组成，其中四名为执行董事包
括洪剑峰博士（主席）、杨敏仪女士（副主席兼行
政总裁）、洪英峰先生及杨国梁先生，另外三名
为独立非执行董事包括叶富华先生、梁伟祥博士
及古永康先生。其中一名独立非执行董事具备上
市规则所要求之适当专业资格，或会计或相关财
务管理的专门知识。杨敏仪女士为洪剑峰博士之
妻子。彼亦为杨国梁先生之胞姊。洪英峰先生为
洪剑峰博士之胞弟。
各名独立非执行董事均已根据上市规则第3.13条
就其独立身份发出年度确认函。本公司认为全体
独立非执行董事均符合上市规则第3.13条所载独
立身份指引，而根据指引条款，彼等均为独立人
士。
董事会之组成架构会定期获检讨，确保其在技
能、经验和成员多元化方面取得平衡，切合本集
团业务的需要。为加强企业管治水平，本公司亦
于二零一三年八月二十九日采纳董事会成员多元
化政策。董事的履历资料载于本年报第16页至第
23页。
董事会由主席领导，负责审批及监察本集团的长
期及短期投资、经营策略及年度预算、评估本集
团的表现，并监督管理工作。主席其中一项主要
职能为带领董事会，令董事会以最有利于本集团
的方式行事。主席应确保董事会有效运作及履行
其职责，而所有重大及适切事宜在执行前必须经
董事会商议及批准。任何建议纳入会议议程的事
项均会先咨询全体董事。主席已授权公司秘书负
责拟订每次董事会会议的议程。在公司秘书的协
助下，主席会尽力确保全体董事均获妥善告知将
于董事会会议提出的事项，并及时接收充足可靠
的资讯。
Mobicon Group Limited – Annual Report 2024/2025
Corporate Governance Report
企业管治报告书
行政总裁负责推行董事会不时议决之企业目标、
业务策略及政策。行政总裁就本集团之营运对董
事会负全责。
公司秘书须应任何一名董事要求召开董事会会
议，并将于董事会会议召开前14日向全体董事发
出会议通知。公司秘书须在董事会会议举行日期
最少三日前呈上会议文件，使各董事能充分了解
董事会会议上将提出、讨论及议决的所有事务，
并作出知情决定。身兼本集团财务总监之公司秘
书在有需要时须出席所有董事会常规会议，就企
业管治、法规遵守、会计及财务事宜提供意见。
董事有权取得本集团所有资料，而本公司已作出
安排致使董事于认为有需要时能获得独立专业意
见。公司秘书须编备会议记录，记录所有于董事
会会议上讨论的事项及所作出的决定。
于回顾年度内举行之四次董事会常规会议均为预
先安排之会议，大致每季举行。另外两次董事
会会议乃根据上市规则第14A章为讨论两项持续
关连交易而召开。依据本公司的公司细则第136
条，董事可亲身出席会议，或透过会议电话或其
他通讯设备参与会议。
高级管理层在董事会领导下负责本集团的日常业
务运作。就此，高级管理层须实施、跟进及监管
董事会制定之业务计划、内部监控及企业管治常
规。
董事培训
每位董事均知悉有关本公司董事责任，以及本公
司的经营、业务活动及动向的最新资料。本公司
每月向董事会全体成员汇报本集团表现及财务状
况的最新资料。
于回顾年度，本公司曾安排董事参与内部培训，
讲述近期数度延迟披露内幕消息造成之影响。此
外，董事亦曾参与由不同机构举办的外界课程、
会议及午餐会，旨在进一步提高彼等履行董事职
责的能力。
The CEO is responsible for the implementation of corporate goals, business
strategies and policies resolved by the Board from time to time. The
CEO assumes full accountability to the Board in respect of the Group’s
operations.
The Company Secretary shall convene a Board meeting at the request of
any one director and 14 days’ notice of Board meeting will be given to all
directors. The Company Secretary shall circulate the Board papers not less
than three days before the Board meeting to enable the directors to clearly
understand and make informed decisions on all matters to be raised,
discussed and resolved at the Board meetings. The Company Secretary
who is also the financial controller of the Group shall attend all regular
Board meetings to advise on corporate governance, statutory compliance,
accounting and financial matters when necessary. The directors shall have
full access to information on the Group and arrangement has been in place
to enable directors to obtain independent professional advice whenever
deemed necessary. The Company Secretary shall prepare minutes and keep
records of matters discussed and decisions resolved at all Board meetings.
Four regular Board meetings of the Year Under Review were scheduled
in advance at approximately quarterly intervals; the other two Board
meetings had been convened in relation to the discussions of two
continued connected transactions pursuant to Chapter 14A of the Listing
Rules. The directors can attend meetings in person or by means of a
conference telephone or other communications facilities in accordance
with Bye-law 136 of the Company’s Bye-laws.
The senior management is responsible for the daily operations of the Group
under the leadership of the Board. To this end, the senior management has
to implement, follow up and monitor the business plans, internal control
and corporate governance practices developed by the Board.
Directors’ Training
Every director keeps abreast of responsibilities as a director of the
Company and of the conduct, business activities and development of the
Company. The Company provides all members of the Board with monthly
updates on the Group’s performance and financial position.
During the Year Under Review, the Company had arranged an in-house
training session to the directors on the implications of late disclosure
of inside information from recent cases. In addition, the directors had
attended external courses, conferences and luncheons organised by
various organisations to further enhance their capacities to carry out
directors’ duties.
万保刚集团有限公司 – 二零二四/二零二五年年报
Corporate Governance Report
企业管治报告书
董事亦审阅提供予彼等有关业务及财务情况的每
月最新资料、以及其他有关企业管治常规和相关
法律及法规最新发展的阅览资料。
根据公司秘书保存之记录，所有董事均有于回顾
年度进行持续专业进修，有关详情载述如下：
The directors also reviewed the monthly business and financial
updates and other reading materials provided to them concerning latest
developments in corporate governance practices and relevant legal and
regulatory developments.
According to the records maintained by the Company Secretary, all
Directors pursued continuous professional development during the Year
Under Review and relevant details are set out below:
Type of trainings
进修种类
Dr. Hung Kim Fung, Measure洪剑峰博士A&B
Ms. Yeung Man Yi, Beryl杨敏仪女士A&B
Mr. Hung Ying Fung洪英峰先生A&B
Mr. Yeung Kwok Leung, Allix杨国梁先生A&B
Mr. Ip Fu Wa, Benthony叶富华先生A&B
Dr. Leung Wai Cheung梁伟祥博士A&B
Mr. Ku Wing Hong, Eric古永康先生A&B
A: attending seminars/conferences/forums
B: reading newspapers, journals and updates relating to the economy,
general business, corporate governance and directors’ duties and
responsibilities
Appointment, Re-election and Removal of
Directors
Save for Mr. Ip Fu Wa, Benthony, who was appointed as an INED of the
Company for a term of two years since 31st August 2022 and a further term
of two years commencing from 1st September 2024, there is no specific
term of the appointment of the other INEDs. However, all the INEDs are
subject to retirement by rotation and re-election at the annual general
meetings of the Company in accordance with the provision of the Bye-laws
of the Company. This deviates from the Code Provision B.2.2 of the Code
which requires that non-executive directors be appointed for specific terms
subject to rotation and re-election by shareholders. The Board considers
that this current practice is fair and reasonable and does not intend to
change this practice at the moment.
According to Bye-law 111 of the Company’s Bye-laws, one-third of the
directors for the time being (excluding the Chairman and the Deputy
Chairman of the Board) shall retire from office by rotation at each annual
general meeting. Currently, three directors are subject to retirement by
rotation at the forthcoming annual general meeting.
A: 出席研讨会╱会议╱论坛
B: 阅读有关经济、宏观商业、企业管治以
及董事职责及责任之报纸、期刊及最新
资讯
委任、重选及罢免董事
除叶富华先生（已获委任为本公司独立非执行董
事，自二零二二年八月三十一日起为期两年及自
二零二四年九月一日起额外两年）外，其他独立
非执行董事并无指定任期。然而，所有独立非执
行董事须根据本公司的公司细则规定于本公司股
东周年大会轮值告退及重选连任。此情况偏离守
则之守则条文第B.2.2条，该条文规定非执行董事
仅可于指定任期内担任董事职务，并须轮值告退
及接受股东重选。董事会认为，现行做法属公平
合理，故目前无意变更此做法。
根据本公司的公司细则第111条，于每届股东周
年大会上，当时三分之一的董事（董事会主席及
副主席除外）须轮值告退。现时，三名董事须于
应届股东周年大会轮值告退。
Mobicon Group Limited – Annual Report 2024/2025
Corporate Governance Report
企业管治报告书
According to Bye-law 117 of the Company’s Bye-laws, the members may,
at any general meeting and by an ordinary resolution, remove a director
at any time before the expiration of his/her period of office provided that
the notice of any such meeting convened for the purpose of removing a
director shall contain a statement of the intention so to do and be served
on such director not less than 14 days before the meeting and at such
meeting, such director shall be entitled to be heard on the motion for his/
her removal.
Board Diversity Policy
The Board has adopted a board diversity policy (the “Board Diversity
Policy”) on 29th August 2013. The Company recognises and embraces
the benefits of having a diverse Board to enhance the quality of its
performance. The Board Diversity Policy aimed to set out the approach to
achieve diversity on the Board.
In designing the Board’s composition, Board diversity has been considered
from a number of aspects, including but not limited to gender, age,
cultural and educational background, professional experience, skills,
knowledge and length of service. All Board appointments will be based on
meritocracy, and candidates will be considered against objective criteria,
having due regard for the benefits of diversity on the Board.
Selection of candidates will be based on a range of diversity perspectives,
including but not limited to gender, age, cultural and educational
background, professional experience, skills, knowledge and length of
service. The ultimate decision will be based on merit and contribution that
the selected candidates will bring to the Board.
As at 31st March 2025, the Board consisted of six male Directors and
one female Director. Among all employees of the Group, male employees
accounted for 57% and female employees accounted for 43%. The Group
believes that the gender ratio of employees is within the reasonable range.
根据本公司之公司细则第117条，股东可于任何
股东大会上透过普通决议案在董事之任期届满前
随时罢免该董事，惟就罢免董事而召开之任何有
关会议之通告须说明会议有此目的，而通告须于
会议举行至少14日前送交该名董事，且于该次会
议上，该名董事有权就其罢免动议辩护。
董事会成员多元化政策
董事会于二零一三年八月二十九日采纳董事会成
员多元化政策（「董事会成员多元化政策」）。本公
司明白并深信董事会成员多元化对提升公司的表
现素质裨益良多。董事会成员多元化政策旨在列
载为达致董事会成员多元化而采取的方针。
本公司在设定董事会成员组合时，会从多个方面
考虑董事会成员多元化，包括但不限于性别、
年龄、文化及教育背景、专业经验、技能、知识
及服务任期。董事会所有委任均以用人唯才为原
则，并在考虑人选时以客观条件充分顾及董事会
成员多元化的裨益。
本公司按一系列多元化范畴为基准甄选人选，包
括但不限于性别、年龄、文化及教育背景、专业
经验、技能、知识及服务任期。最终将按人选的
长处及可为董事会带来的贡献而作决定。
于二零二五年三月三十一日，董事会成员包括六
名男性董事及一名女性董事。本集团之全体雇员
当中，男性雇员占57%，女性雇员占43%。本集
团相信雇员之性别比例属合理范围内。
万保刚集团有限公司 – 二零二四/二零二五年年报
Corporate Governance Report
企业管治报告书
Corporate Governance Functions
The Board is responsible for performing the corporate governance duties
including:
- ’s policies and practices on
corporate governance;
2. to review and monitor the training and continuous professional
development of directors and senior management;
- ’s policies and practices on
compliance with legal and regulatory requirements;
- , review and monitor the code of conduct and compliance
manual (if any) applicable to employees and directors; and
- ’s compliance with the Code and disclosure
in corporate governance reports.
Remuneration Committee and Directors’
Remuneration
The Remuneration Committee of the Company was established on 20th
February 2006 to assist the Board to oversee the remuneration packages
of and determine the remuneration structure of the executive directors and
senior management of the Group. Its current members are Dr. Leung Wai
Cheung, Ms. Yeung Man Yi, Beryl and Mr. Ku Wing Hong, Eric. Dr. Leung
is the Chairman of the Remuneration Committee. The terms of reference
including the duties of the Remuneration Committee have been posted on
the Company’s website and the Stock Exchange’s website.
With effect from the fiscal year 2023/2024, the Remuneration Committee
adopted the management bonus package mechanism of executive directors
which provides that the aggregate amount of management bonuses
payable to all directors in respect of any financial year of the Company
shall not exceed (i) 5% of the net profits of the Group if the net profits of
the Group is HK$3 million or above but is less than HK$5 million; and (ii)
10% of the net profits of the Group if the net profits of the Group is HK$5
million or above. Furthermore, the Remuneration Committee also approved
to delegate the authority to the Chairman of the Group to determine
the distribution level on the management bonus payout to all executive
directors and each executive director shall entitle to not less than 10% of
the aggregate amount of the management bonuses.
企业管治职能
董事会负责履行企业管治职责，包括：
1. 制定及检讨本公司之企业管治政策及常
规；
2. 检讨及监察董事及高级管理人员之培训
及持续专业发展；
3. 检讨及监察本公司遵守法律及监管规定
之政策及常规；
- 、检讨及监察适用于雇员及董事之
操守准则及合规手册（如有）；及
5. 检讨本公司遵守守则之情况及企业管治
报告书内之披露事项。
薪酬委员会及董事薪酬
本公司薪酬委员会于二零零六年二月二十日成
立，以协助董事会监督本集团执行董事及高级管
理层的薪酬待遇以及厘定本集团执行董事及高级
管理层的薪酬结构。薪酬委员会现任成员包括梁
伟祥博士、杨敏仪女士及古永康先生。梁博士为
薪酬委员会主席。载列薪酬委员会职务之职权范
围登载于本公司网站及联交所网站。
自二零二三╱二零二四年财政年度起，薪酬委员
会采用执行董事管理花红组合机制，有关机制规
定，本公司于任何财政年度应付全体董事之管理
花红总额(i)不得多于本集团纯利之5%（倘本集团
纯利达三百万港元或以上但低于五百万港元）；
及(ii)不得多于本集团纯利之10%（倘本集团纯利达
五百万港元或以上）。此外，薪酬委员会亦批准
通过授权本集团主席可决定全体执行董事所获分
配管理花红之数额，而每位执行董事可享有不少
于管理花红总额之10%。
Mobicon Group Limited – Annual Report 2024/2025
Corporate Governance Report
企业管治报告书
During the Year Under Review, the Remuneration Committee held one
meeting. The minutes of the Remuneration Committee were tabled to the
Board for noting and for confirmation by the Board where appropriate. On
27th February 2025, the Remuneration Committee resolved that a new
management bonus package mechanism of executive directors for the
fiscal year 2025/2026 will be adopted which provides that the aggregate
amount of management bonuses payable to all executive directors in
respect of any financial year of the Company shall not exceed (i) 5% of the
net profits of the Group if the net profits of the Group is HK$3 million or
above but is less than HK$5 million; and (ii) 10% of the net profits of the
Group if the net profits of the Group is HK$5 million or above. Furthermore,
the Remuneration Committee also approved that, with effect from the
fiscal year 2025/2026, it shall delegate the authority to the Chairman of
the Group to determine the distribution level on the management bonus
payout to all executive directors and each executive director shall entitle to
not less than 10% of the aggregate amount of the management bonuses.
The following table lists out in bands the remuneration of the executive
directors and senior management whose names appear in the “Directors’
and Senior Management’s Profile” section for the Year Under Review:
HK$Number of persons
港元人数
500,001 – 1,000,0003
1 – 500,0009
Total number of persons总人数12
于回顾年度，薪酬委员会曾举行一次会议。薪酬
委员会之会议记录已呈交董事会以供董事会省览
及确认（如有需要）。于二零二五年二月二十七
日，薪酬委员会议决于二零二五╱二零二六年
财政年度，将采用新的执行董事管理花红组合机
制，新的机制规定本公司于任何财政年度应付全
体执行董事之管理花红总额(i)不得多于本集团纯
利之5%（倘本集团纯利达三百万港元或以上但低
于五百万港元）；及(ii)不得多于本集团纯利之10%
（倘本集团纯利达五百万港元或以上）。此外，薪
酬委员会亦批准通过由二零二五╱二零二六年财
政年度起，授权本集团主席可决定全体执行董事
所获分配管理花红之数额，而每位执行董事可享
有不少于管理花红总额之10%。
下表列出名列「董事及高级管理层简介」一节之执
行董事及高级管理层于回顾年度之酬金组别：
万保刚集团有限公司 – 二零二四/二零二五年年报
Corporate Governance Report
企业管治报告书
Nomination Committee
The Nomination Committee of the Company was established on 28th
March 2012 to lead the process for the appointment of directors of the
Company. Its current members are Dr. Hung Kim Fung, Measure, Mr. Ip
Fu Wa, Benthony and Dr. Leung Wai Cheung. Dr. Hung is the Chairman
of the Nomination Committee. The terms of reference including the
responsibilities of the Nomination Committee have been posted on the
Company’s website and the Stock Exchange’s website.
The terms of reference including the duties of the Nomination Committee
was amended on 28th December 2018 and the amended version has been
posted on the Company’s website and the Stock Exchange’s website.
Nomination Policy
The Nomination Committee adopted a policy for the nomination of the
directors (the “Nomination Policy”). According to the Nomination Policy,
the Nomination Committee will use the following non-exhaustive factors,
including reputation for integrity, accomplishment and experience,
commitment in respect of available time and relevant interest, the
Company’s board diversity policy and the independence of the candidate
(in the case of independent non-executive Directors) as reference in
assessing the suitability of a proposed candidate. The Nomination
Committee shall call a meeting of the Nomination Committee and invite
nominations of candidates from Board members if any, for consideration
by the Nomination Committee prior to its meeting. The Nomination
Committee may also put forward candidates who are not nominated by
Board members. The Board shall have the ultimate responsibility and final
decision on all matters relating to its recommendation of candidates to
stand for election at any general meeting.
During the Year Under Review, the Nomination Committee held one
meeting. The minutes of the Nomination Committee meeting was tabled to
the Board for noting and for confirmation by the Board where appropriate.
提名委员会
本公司提名委员会于二零一二年三月二十八日成
立，专责领导本公司董事之委任程序。提名委员
会现任成员包括洪剑峰博士、叶富华先生及梁伟
祥博士。洪博士为提名委员会主席。载列提名委
员会职责之职权范围登载于本公司网站及联交所
网站。
载列提名委员会职务之职权范围曾于二零一八年
十二月二十八日作出修订，经修订版本登载于本
公司网站及联交所网站。
提名政策
提名委员会已采纳有关提名董事之政策（「提名政
策」）。根据提名政策，在评估候任人选之合适
性时，提名委员会将以下列不完全因素作参考，
包括诚信品格、成就及经验、投入程度（能够付
出之时间及对相关事务的关注）、本公司之董事
会成员多元化政策，以及候选人之独立性（就独
立非执行董事而言）。提名委员会须召开提名委
员会会议，并邀请董事会成员于会议前提名人选
（如有），以供提名委员会考虑。提名委员会亦可
提呈并非由董事会成员提名之人选。就董事会推
荐候选人在任何股东大会上参选一事而言，董事
会对所有相关事宜负有最终责任，并就此拥有最
终决定权。
于回顾年度内，提名委员会曾举行一次会议。提
名委员会会议之会议记录已提呈董事会过目，并
供董事会确认（如有需要）。
Mobicon Group Limited – Annual Report 2024/2025
Corporate Governance Report
企业管治报告书
Audit Committee
The Audit Committee of the Company was established on 18th April 2001
to assist the Board in providing an independent review of the effectiveness
of the financial reporting process, risk management and internal control
system of the Company.
All members of the Audit Committee are the INEDs. One member has
appropriate professional qualifications, accounting and related financial
management expertise as required under the Listing Rules. None of them is
employed by or otherwise affiliated with former or existing auditors of the
Company. The current members of the Audit Committee are Mr. Ip Fu Wa,
Benthony, Dr. Leung Wai Cheung and Mr. Ku Wing Hong, Eric. Dr. Leung is
the Chairman of the Audit Committee.
The terms of reference including the duties of the Audit Committee was
amended on 28th December 2018 and the amended version has been
posted on the Company’s website and the Stock Exchange’s website.
The Audit Committee held four meetings during the Year Under Review.
The minutes of the Audit Committee meetings were tabled to the Board for
noting and for action by the Board where appropriate.
During the meetings held in the Year Under Review, the Audit Committee
had performed the following work:
(i) reviewed annual results and the financial reports for the year
ended 31st March 2024 and the interim results and the financial
reports for the six months ended 30th September 2024;
(ii) reviewed the findings and recommendations of the internal audit
on the operations and performance of the Group;
(iii) reviewed the accounting principles and practices adopted by the
Group and ensured the Company to comply with the Listing Rules
and other statutory compliance;
(iv) reviewed the effectiveness of internal control and risk
management systems of the Group;
(v) reviewed the external auditors’ management letter and
management’s response; and
(vi) reviewed and recommended for approval to the Board the
2024/2025 audit scope and auditors’ remuneration.
审核委员会
本公司审核委员会于二零零一年四月十八日成
立，以协助董事会独立检讨本公司之财务申报程
序、风险管理及内部监控系统之成效。
审核委员会全体成员皆为独立非执行董事。其中
一名成员具有上市规则规定的适当专业资格、会
计及相关财务管理专业知识。彼等概无受雇于本
公司前任或现任核数师或与彼等有联属关系。审
核委员会现任成员包括叶富华先生、梁伟祥博士
及古永康先生。梁博士为审核委员会主席。
载列审核委员会职务之职权范围曾于二零一八年
十二月二十八日作出修订，经修订版本登载于本
公司网站及联交所网站。
于回顾年度内，审核委员会曾举行四次会议。审
核委员会会议之会议记录已提呈董事会过目，并
供董事会采取行动（如有需要）。
于回顾年度举行之会议上，审核委员会曾执行下
述工作：
(i) 审阅截至二零二四年三月三十一日止年
度的全年业绩及财务报告以及截至二零
二四年九月三十日止六个月的中期业绩
及财务报告；
(ii) 审阅内部审核部就本集团营运及表现之
发现及建议；
(iii) 审阅本集团采纳的会计原则及惯例，并
确保本公司遵守上市规则及其他法定规
章；
(iv) 检讨本集团内部监控及风险管理系统之
成效；
(v) 审阅外聘核数师致管理层的函件及管理
层的回应；及
(vi) 检讨二零二四╱二零二五年度之核数范
围及核数师酬金，并推荐董事会批准。
万保刚集团有限公司 – 二零二四/二零二五年年报
Corporate Governance Report
企业管治报告书
Dividend Policy
The Company has adopted a dividend policy. Subject to any restrictions
under the Laws of Bermuda, the Bye-laws of the Company and any
applicable laws, rules and regulations, the Company may declare dividend
according to the recommendation of the Board. The Company may in its full
discretion decide not to declare dividend due to various reasons, including
but not limited to maintaining or adjusting the capital structure and
reserving more capital to capture opportunities, etc. In deciding whether
to propose a dividend and in determining the dividend amount, the Board
shall take into account, inter alia:
(i) the general financial condition of the Group;
(ii) the Group’s actual and future operations and liquidity position;
(iii) the Group’s expected working capital requirements and future
expansion plans;
(iv) the Group’s debt to equity ratios and the debt level;
(v) any restrictions on payment of dividends that may be imposed by
the Group’s lenders;
(vi) the retained earnings and distributable reserves of the Company
and each of the members of the Group;
(vii) the shareholders’ and the investors’ expectation and industry
norm;
(viii) the general market conditions; and
(ix) any other factors that the Board deems appropriate.
股息政策
本公司采纳了股息政策。在符合百慕达法例、本
公司之公司细则及任何适用法律、法规及规例之
任何限制下，本公司可依照董事会之建议宣派股
息。本公司可全权酌情决定基于不同的原因（包
括但不限于维持或调整资本结构及保留更多资金
以便把握机遇等）不宣派股息。在决定是否建议
派付股息时及在厘定股息金额时，董事会须考虑
（其中包括）下列因素：
(i) 本集团之整体财务状况；
(ii) 本集团之实际及未来营运以及流动资金
状况；
(iii) 本集团之预期营运资金需求及未来拓展
计划；
(iv) 本集团之负债权益比率及债务水平；
(v) 本集团借款人可能施加的有关支付股息
的任何限制；
(vi) 本公司及本集团各成员公司之留存溢利
及可供分派储备；
(vii) 股东及投资者之期望及行业惯例；
(viii) 整体市场情况；及
(ix) 董事会认为适用的任何其他因素。
Mobicon Group Limited – Annual Report 2024/2025
Corporate Governance Report
企业管治报告书
Attendance of Individual Directors
The attendance of individual directors at the Board, Audit Committee,
Remuneration Committee, Nomination Committee and Annual General
Meeting during the Year Under Review is set out in the table below.
Number of meeting(s) attended/held in 2024/2025
于二零二四╱二零二五年度出席╱举行会议次数
Board Meetings
Audit
Committee
Meetings
Remuneration
Committee
Meeting
Nomination
Committee
Meeting
Annual
General
Meeting
Name of Director董事姓名董事会会议审核委员会会议薪酬委员会会议提名委员会会议股东周年大会
Dr. Hung Kim Fung, Measure洪剑峰博士8/8N/A不适用N/A不适用1/11/1
Ms. Yeung Man Yi, Beryl杨敏仪女士8/8N/A不适用1/1N/A不适用1/1
Mr. Hung Ying Fung洪英峰先生8/8N/A不适用N/A不适用N/A不适用1/1
Mr. Yeung Kwok Leung, Allix杨国梁先生8/8N/A不适用N/A不适用N/A不适用1/1
Mr. Ip Fu Wa, Benthony叶富华先生8/84/4N/A不适用1/11/1
Dr. Leung Wai Cheung梁伟祥博士8/84/41/11/11/1
Mr. Ku Wing Hong, Eric古永康先生8/84/41/1N/A不适用1/1
Directors’ Responsibility for the Financial
Statements
The directors acknowledge their responsibility to prepare financial
statements for each financial year which give a true and fair view of the
state of affairs of the Group.
As at 31st March 2025, the directors were not aware of any material
uncertainties relating to events or conditions which may cast significant
doubt upon the Company’s ability to continue as a going concern.
Accordingly, the directors have prepared the financial statements of the
Company on a going concern basis.
The responsibilities of the external auditors with respect to financial
reporting are set out in the Independent Auditors’ Report on pages 71 to 76
of this annual report.
The consolidated financial statements for the Year Under Review were
audited by HLB Hodgson Impey Cheng Limited whose term of office will
expire upon the forthcoming annual general meeting of the Company. The
Audit Committee has recommended to the Board that HLB Hodgson Impey
Cheng Limited be re-appointed as the auditors of the Company at the
forthcoming annual general meeting of the Company.
各董事之会议出席记录
于回顾年度，各董事出席董事会会议、审核委员
会会议、薪酬委员会会议、提名委员会会议及股
东周年大会之记录载于下表。
董事就财务报表须承担之责任
董事确认其须就每个财政年度编制真实兼公平反
映本集团事务状况之财务报表。
于二零二五年三月三十一日，董事并不知悉有任
何重大不明朗事件或情况可能会严重影响本公司
持续经营之能力。因此，董事按持续经营基准编
制本公司财务报表。
外聘核数师就财务申报须承担之责任载于本年报
第71页至第76页之独立核数师报告内。
回顾年度之综合财务报表已经由国卫会计师事务
所有限公司审核，彼将于应届本公司股东周年大
会上任满。审核委员会已向董事会建议，于应届
本公司股东周年大会上续聘国卫会计师事务所有
限公司为本公司核数师。
万保刚集团有限公司 – 二零二四/二零二五年年报
Corporate Governance Report
企业管治报告书
核数师酬金
于回顾年度，支付予本公司核数师国卫会计师事
务所有限公司之酬金载列如下：
Auditors’ Remuneration
For the Year Under Review, the remuneration paid to the Company’s
auditors, HLB Hodgson Impey Cheng Limited, is set out as follows:
Services rendered所提供服务
Fee paid/payable
已付╱应付费用
HK$’000
千港元
Audit services核数服务900
Non-audit services – Interim review非核数服务－中期审阅220
1,120
Risk Management and Internal Control
The Board acknowledges its responsibility for the risk management and
internal control systems and the review of their effectiveness. Such
systems are designed to identify, analyse, evaluate and mitigate risk
exposures that may impact the continued efficiency and effectiveness of
our operation or prevent it from achieving its business objectives.
The risk management process of the Group is coordinated and facilitated
by our compliance officer. The objectives of risk management are to, inter
alia, enhance the Company’s governance and corporate management
processes as well as to safeguard the Group against unacceptable
levels of risks and losses. The risk management process of the Group
will involve, inter alia, (i) an annual risk identification exercise which
involves assessment of the consequence and likelihood of risks (including
documenting those of potentially high impact) and the development
and/or review of risk management plans for mitigating such risks; (ii)
testing of documented risk management procedures at approval intervals;
and (iii) providing our staff and other stakeholders appropriate and
reasonable access to relevant information and training in the area of risk
management.
Our internal control staff has performed an assessment on our internal
control systems including reviewing guidelines and policies which are
implemented through our operational process and the results of the same
has been reported to the Board. An internal audit function is set up to
examine key issues in relation to the financial and operational matters/
practices and to provide its findings and any recommendations for
improvement to the Audit Committee.
风险管理与内部监控
董事会确认其有责任进行风险管理及管理内部监
控系统，以及检讨其成效。有关系统旨在识别、
分析、评估及降低可能会影响本公司业务运作的
一贯效率及效益或妨碍实现其业务目标的风险。
本集团的风险管理程序由本公司的合规主任协调
及促成。风险管理的目标是要（其中包括）加强本
公司的管治及企业管理程序，以及保护本集团免
受无法承受的风险及损失。本集团的风险管理程
序涉及（其中包括）(i)进行年度风险识别工作，有
关工作涉及评估风险（包括记录可能产生严重影
响的风险）的后果及发生机率，以及制订及╱或
检讨关于降低有关风险的风险管理计划；(ii)每隔
一段认许时间，测试已记录的风险管理程序；及
(iii)在合适及合理范围内，让本公司员工及其他利
益相关者取用有关风险管理方面的资料及接受相
关培训。
本公司的内部监控员工已对内部监控系统进行评
估，包括审视在本公司营运过程中执行的指引及
政策并将有关评估的结果汇报予董事会。本公司
已成立内部审核部门，旨在审查有关财务及营运
事宜╱常规的主要问题，以及向审核委员会提交
其调查结果及任何改善建议。
Mobicon Group Limited – Annual Report 2024/2025
Corporate Governance Report
企业管治报告书
就识别、处理及发布内幕消息而言，本集团已实
施程序，严格禁止未经授权存取及使用资料。
于回顾年度，在审核委员会、合规主任及内部审
核部门的支援下，董事会已检讨上述期间之风险
管理及内部监控系统，包括财务、营运及合规等
方面之监控，并认为有关系统属有效及足够。年
度检讨亦涵盖财务申报及内部审核职能以及相关
的员工资格、经验及相关资源。
投资者关系及沟通
本公司设有不同渠道与股东及投资者沟通：(i)股
东周年大会为股东提供发表意见及与董事会交流
观点之场合；(ii)本集团之最新公司消息及本集团
已刊发之公布在联交所及本公司的网站可供查
阅；及(iii)向股东及投资者提供各种交流渠道，例
如：(a)邮寄至本公司总办事处，地址为香港九龙
新蒲岗太子道东704号新时代工贸商业中心7楼；
(b)致电(852) 2397 6628；或(c)传真至(852) 2397 0339。
公司秘书
公司秘书为本公司之全职雇员，能紧贴本公司之
日常事务。公司秘书负责向主席汇报。公司秘书
不时向董事会提供有关管治事宜之意见，确保遵
循董事会程序、适用法律、法规及规例。公司秘
书已确认，于回顾年度内，彼符合上市规则项下
有关资格及培训之所有规定。
股东权利
(i) 股东可召开股东特别大会（「股东特别
大会」）之程序
在持有不少于本公司十分之一缴足股本
（即已缴付所有到期催缴股款或其他到期
款项）之股东作出书面要求时，董事会须
立即就此召开股东特别大会。
倘董事会并未于有关要求发出日期起计
二十一日内召开股东特别大会，则提出
该要求之人士或彼等当中持有过半数总
投票权之任何人士可自行召开股东特别
大会，惟任何此等会议不得于要求原发
出日期起计三个月后举行。
With a view to identifying, handling and disseminating inside information,
procedures have been implemented by the Group to ensure that
unauthorised access and use of information are strictly prohibited.
During the Year Under Review, the Board, as supported by the Audit
Committee, our compliance officer and internal audit function, reviewed
the risk management and internal control systems, including the financial,
operational and compliance controls, for the mentioned period, and
considered that such systems are effective and adequate. The annual
review also covered the financial reporting and internal audit function and
staff qualifications, experiences and relevant resources in respect thereof.
Investor Relations and Communications
The Company establishes different communication channels with
shareholders and investors: (i) the annual general meeting provides a
forum for shareholders to raise comments and exchange views with
the Board; (ii) updated company news and published announcements of
the Group are available on the websites of the Stock Exchange and the
Company; and (iii) different means are opened to the shareholders and
investors for communication channel such as (a) by mail to the Company’s
head office at 7/F, New Trend Centre, 704 Prince Edward Road East, San
Po Kong, Kowloon, Hong Kong; (b) by telephone at (852) 2397 6628; or (c)
by fax at (852) 2397 0339.
Company Secretary
The Company Secretary is a full time employee of the Company and has
day- to-day knowledge of the Company’s affairs. The Company Secretary
reports to the Chairman. From time to time, the Company Secretary advises
the Board on governance matters and ensures the board procedures,
applicable law, rules and regulations are followed. During the Year Under
Review, the Company Secretary has confirmed that he has complied with
all the qualifications and training requirements under the Listing Rules.
Shareholders’ Right
(i) Procedures by which shareholders can convene a
Special General Meeting (the “SGM”)
The Board shall, on the requisition in writing of the shareholders of
not less than one-tenth of the paid-up capital of the Company upon
which all calls or other sums then due have been paid, forthwith
proceed to convene a SGM.
If within twenty-one days of such deposit, the Board fails to
proceed to convene the SGM, the requisitionists or any of them
representing more than one half of the total voting rights of all
of them, may themselves convene a SGM, but any meeting so
convened shall not be held after three months from the date of the
original deposit.
万保刚集团有限公司 – 二零二四/二零二五年年报
Corporate Governance Report
企业管治报告书
(ii) Procedures for putting forward proposals at General
Meetings (the “GM”)
Shareholders can submit a written requisition to move a resolution
at GM. The number of shareholders shall represent not less than
one- twentieth of the total voting rights of all shareholders having
at the date of the requisition a right to vote at the GM, or who are
no less than 100 shareholders.
The written requisition must state the resolution, accompanied
by a statement of not more than 1,000 words with respect to the
matter referred to in any proposed resolution or the business
to be dealt with at the GM. It must also be signed by all of
the shareholders concerned and be deposited to the Company
Secretary at the Company’s office in Hong Kong at 7/F, New Trend
Centre, 704 Prince Edward Road East, San Po Kong, Kowloon, Hong
Kong not less than six weeks before the GM in case of a requisition
requiring notice of a resolution and not less than one week before
the GM in case of any other requisition.
The request will be verified with the Company’s Share Registrars
and upon their confirmation that the request is proper and in order,
the Company Secretary will ask the Board to include the resolution
in the agenda for the meeting provided that the shareholders
concerned have deposited a sum of money reasonably sufficient
to meet the Company’s expenses in serving the notice of the
resolution and circulating the statement submitted by the
shareholders concerned in accordance with the statutory
requirements to all the registered shareholders.
(iii) Shareholders’ enquiries
Shareholders may at any time send their enquires and concerns to
the Board in writing with contact information of the requisitionists
and deposited to the Company Secretary at the Company’s office
in Hong Kong at 7/F, New Trend Centre, 704 Prince Edward Road
East, San Po Kong, Kowloon, Hong Kong.
Constitutional Documents
During the Year Under Review, the Company has amended its
constitutional documents. Details of the amendments are set out in the
circular of the Company dated 15th July 2022. An up-to-date version of
the Bye-Laws of the Company is available on the websites of the Stock
Exchange and Company.
(ii) 于股东大会（「股东大会」）提出议案
之程序
股东可于股东大会上提出书面要求动议
一项决议案。股东人数不得少于该要求
提出当日有权于股东大会上投票之所有
股东之总投票权的二十分之一，或不少
于100名股东。
该请求书须列明有关决议案，连同一份
不多于1,000字之陈述书，内容有关任何
提呈决议案所提述事宜或将于股东大会
上处理之事项。该请求书亦须由全体有
关股东签署，并送交本公司香港办事处
（地址为香港九龙新蒲岗太子道东704号新
时代工贸商业中心7楼）予公司秘书。倘该
请求书要求发出决议案通知，则须于股
东大会举行前不少于六个星期送达；倘
属任何其他情况，则须于股东大会举行
前不少于一个星期送达。
本公司会向本公司之股份过户登记处核
实该要求，于获得股份过户登记处确认
该要求为恰当及适当后，公司秘书将要
求董事会在大会之议程内加入有关决议
案，惟有关股东须存放一笔合理充足之
款项，以支付本公司根据法定要求向所
有登记股东送达决议案通知及传阅有关
股东所提交陈述书产生之开支。
(iii) 股东之查询
股东可随时以书面形式向董事会提出查
询及顾虑，连同提出该要求人士之联络
资料，送交本公司香港办事处（地址为香
港九龙新蒲岗太子道东704号新时代工贸
商业中心7楼）予公司秘书。
宪章文件
于回顾年度，本公司已修订其宪章文件。修订详
情载于本公司日期为二零二二年七月十五日之通
函。本公司最新版本之公司细则载于联交所及本
公司网站。
Mobicon Group Limited – Annual Report 2024/2025
Environmental, Social and Governance Report
环境、社会及管治报告
About This Report
During the Reporting Period (defined hereinunder), Mobicon Group Limited
(the “Company”, together with its subsidiaries from time to time, our
“Group” or “we”) operated three core business operations, namely: (1)
the distribution of electronic components, electrical components and
equipment under the brand of Mobicon (the “Electronic and Electrical
Trading Business”); (2) the Computer Business which includes (i) the retail
sales of computer products and smartphone accessories under the brand
of VideoCom (the “Computer Retail Business”) and (ii) the distribution of
computer products and consumer products under the brand of APower (the
“Computer Distribution Business”); and (3) the Cosmetic and Online Retail
Business under the brand of Wishh! and APower. Our Group’s head office
is in Hong Kong and has subsidiaries in South Africa, Mainland China,
Malaysia, Singapore, Taiwan and Portugal.
This report (“Report”) is prepared in accordance with the “Environmental,
Social and Governance Reporting Guide” issued by The Stock Exchange
of Hong Kong Limited (the “Stock Exchange”) (Appendix C2 to the Rules
Governing the Listing of Securities on the Stock Exchange (the “Listing
Rules”)). Since our Group’s head office and main business are in Hong
Kong, based on materiality principle, unless otherwise specified, this
Report focuses principally on our measures and performance of the
environmental and social aspects of our trading, distribution and retail
businesses in Hong Kong.
This Report covers the period from 1st April 2024 to 31st March 2025 (the
“Reporting Period”), and is accessible at the Stock Exchange’s website
(www.hkexnews.hk) and the Company’s official website (www.mobicon.com).
Stakeholder Engagement
We understand that the engagement of stakeholders including
shareholders, customers, staff, suppliers and the public is important to
our environmental and social sustainability. During our operation, we keep
communicating effectively with our stakeholders through various channels
including employee workshops, shareholder meetings, and customer
daily contacts to understand their concerns and expectations. All these
feedbacks and communication help us formulate our strategies in respect
of sustainability and serve as the reference of materiality assessment in
this Report.
关于本报告
于报告期间（定义见下文），万保刚集团有限公司
（「本公司」，及其不时之附属公司「集团」或「我
们」）经营三大核心业务营运，即：(1)以Mobicon为
品牌的电子元件，电气元件和仪器分销（「电子、
电气元件买卖业务」）；(2)电脑业务，当中包括(i)
以VideoCom为品牌的电脑产品及智能手机配件零
售（「电脑零售业务」）及(ii)以APower为品牌的电脑
产品及消费产品分销（「电脑分销业务」）；及(3)
以Wishh!及APower为品牌的化妆品及网上零售业
务。香港是本集团总部所在地，本集团在南非、
中国大陆、马来西亚、新加坡、台湾和葡萄牙设
有附属公司。
本报告（「报告」）依据香港联合交易所有限公司
（「联交所」）证券上市规则（「上市规则」）附录C2的
由联交所发布之《环境、社会及管治报告指引》
编制。由于香港是本集团的总部和主要业务所在
地，基于重大性原则，除特别说明外，本报告主
要描述于香港的贸易、批发及零售业务在环境和
社会方面的措施和表现。
本报告的报告期间为二零二四年四月一日至二零
二五年三月三十一日（「报告期间」）。本报告会刊
载于联交所网站(www.hkexnews.hk)和本公司官方
网站(www.mobicon.com)。
持份者参与
我们明白各持分者,包括股东、客户、员工、供
应商及社区公众的参与，对我们的环境及社会的
可持续发展甚为重要。在日常运作中，我们一直
透过不同的渠道和各持份者作有效沟通，包括雇
员工作坊、股东会议及客户日常接触，了解各持
份者的关注和期望。透过该等反馈和沟通，本集
团订立有关可持续发展范畴的策略，并作为本报
告决定重要性评估的参考。
万保刚集团有限公司 – 二零二四/二零二五年年报
Environmental, Social and Governance Report
环境、社会及管治报告
环境、社会及管治策略
本集团已建立可持续发展的企业管治架构。为确
保可持续发展的愿景和使命融入本集团的营运
中，本公司董事（「董事」）会（「董事会」）制定了本
集团的环境、社会及管治（「ESG」）策略，并与执
行董事及高级管理层进行沟通，随后由其执行计
划。董事会全面负责本集团的ESG策略及报告。
董事会每年审查本集团的ESG报告，评估主要风
险并为来年提出相关建议。董事会发挥领导作
用，透过制定ESG政策和措施、监督其实施情况
和监控ESG表现，为管理层提供指导。
为进一步支持这一过程，本集团已成立由执行董
事及相关部门高级管理层组成的ESG工作小组，
并指派专责员工收集ESG相关数据及编制ESG报
告。ESG工作小组定期在董事会例会上报告主要
风险及建议的执行进度。
ESG工作小组负责检讨和监督本集团的ESG政策及
营运常规。彼等聘任外聘专业顾问并与其讨论，
以确保本集团符合相关法律及监管规定。ESG工
作小组亦监控及回应最新的ESG事项，并就重大
事项定期向董事会报告并提出相关建议，以提升
本集团的ESG表现。本集团管理层则检视既定ESG
目标的进展，并采取措施达成目标。这些目标的
进展及任何建议至少每年向董事会报告一次。
Environmental, Social and Governance Strategics
We have established a sustainable corporate governance structure.
To ensure that the vision and mission of sustainable development are
integrated into its operations, the board (the “Board”) of directors of
the Company (the “Director(s)”) formulates our Group’s Environmental,
Social and Governance (“ESG”) strategies and communicates them to the
executive Directors and senior management, who then execute the plan.
The Board holds the overall responsibility for our Group’s ESG strategy
and reporting. It reviews our Group’s ESG reports annually, evaluates
key risks, and provides relevant recommendations for the coming year.
The Board takes a leadership role and gives direction to management by
instituting ESG policies and initiatives, supervising their implementation,
and monitoring ESG performance.
To further support this progress, our Group has set up an ESG task force,
composed of executive Directors and senior management from relevant
departments. Dedicated staff are assigned to collect data relevant to ESG
and compile ESG reports. The ESG task force regularly reports key risks and
the execution progress of recommendations at regular Board meetings.
The ESG task force is responsible for reviewing and monitoring the Group’s
ESG policies and operating practices. They engage and communicate
with external professional consultants to ensure that the Group complies
with relevant legal and regulatory requirements. The ESG task force also
monitors and responds to the latest ESG issues, reports major concerns to
the Board regularly, and makes recommendations to enhance the Group’s
ESG performance. Our management reviews the progress of established
ESG targets and takes measures to achieve them. The progress of these
targets and any suggestions are reported to the Board at least annually.
Mobicon Group Limited – Annual Report 2024/2025
Environmental, Social and Governance Report
环境、社会及管治报告
环境范畴
本集团明白环境保护对我们的业务和社会可持续
发展的重要性。在企业运作方面，我们尽最大努
力减低我们对环境的影响。节约、重用及循环再
造是我们对环境的承诺。
层面A1：排放物
本集团业务性质使然，并不产生任何有害废弃物
和废气。温室气体（「温室气体」）是本集团的主要
排放物。电力使用是温室气体排放物产生的主要
来源。本集团透过持续改善各运作单位的设置，
提升资源使用效率、减少排放以保护环境。我们
的措施已使排放量减少。
有害废弃物
鉴于我们的业务性质，本集团于报告期间并无产
生大量有害废弃物。尽管如此，本集团已制订有
关管治有害废弃物的管理和处置的准则。所有处
理过程必须遵守所有相关法律和法规。
无害废弃物
本集团产生的无害废弃物主要为办公用纸。于报
告期间，我们共产生了1,400千克废纸。为更有
效益地控制用纸量，本集团执行环境保护规则和
指南供员工遵循。我们鼓励员工充分利用办公用
纸，包括收集单面纸以供再用和双面废纸以进行
回收。此外，我们在工作场所、仓库和办公室提
供绿色回收箱，用于收集纸张以进行再利用或回
收。
Environmental Performance
We understand that environmental protection is important to our business
and social sustainability. In our operation, we use our best endeavour to
minimise our impact on the environment. Reducing, reusing and recycling
are our strategies for commitment to the environment.
Aspect A1: Emissions
In light of the business nature of our Group, no hazardous waste and
emission was produced. Greenhouse gas (“GHG”) was our Group’s main
emission. Electricity usage was the major source of GHG emission. Our
Group continues to improve the operation units’ facilities to enhance
resource efficiency and produce less emission to protect the environment.
The amount of emissions has been reduced as a result of our measures.
Hazardous Waste
In view of our business nature, our Group did not generate substantial
hazardous waste during the Reporting Period. Nevertheless, our Group
has established guidelines to govern the management and disposal of
hazardous waste. All disposal processes must comply with all relevant
laws and regulations.
Non-hazardous Waste
The non-hazardous waste generated by our Group was mainly office paper.
During the Reporting Period, we generated a total of 1,400 kg of waste
paper. To control paper consumption effectively, our Group implements
environmental protection rules and guidance for our staff to follow. We
encourage our staff to make good use of office paper, including collecting
single-sided paper for reuse and double-side used paper for recycle. Also,
we provide green recycle boxes in our workplaces, warehouses and offices
for collecting paper for reuse or recycle.
万保刚集团有限公司 – 二零二四/二零二五年年报
Environmental, Social and Governance Report
环境、社会及管治报告
于报告期间，本集团严格遵守所有对其有重大影
响的有关废气及温室气体排放、向水及土地的排
污以及有害及无害废弃物的产生等的相关法律及
规例。于报告期间，本集团未发生任何重大违反
或不符合有关环境保护的适用法律法规的情况，
包括但不限于《产品环保责任条例》（香港法例第
603章）及《空气污染管制条例》（香港法例第311
章）。
During the Reporting Period, our Group had strictly complied with all
relevant laws and regulations that have a significant impact on us relating
to air and GHG emissions, discharges into water and land, and generation
of the hazardous and non-hazardous waste. During the Reporting Period,
our Group did not commit any material breach of or non-compliance with
the applicable laws and regulations related to environmental protection,
including but not limited to, the Product Eco-Responsibility Ordinance
(Chapter 603 of the Laws of Hong Kong) and Air Pollution Control
Ordinance (Chapter 311 of the Laws of Hong Kong).
Indicators指标2023/20242024/2025
二零二三╱
二零二四年
二零二四╱
二零二五年
ApproximatelyApproximately
约约
NOx emissions from vehicles (kg)车辆的氮氧化物(NOx)排放量（千克）39.8241.16
SOx emissions from vehicles (kg)车辆的硫氧化物(SOx)排放量（千克）0.110.12
PM emissions from vehicles (kg)车轮的颗粒物(PM)排放量（千克）3.703.82
Total GHG emissions (Scope 1, 2 and 3)
(tonnes)
温室气体排放总量（范围1、2及3）
（吨）203212
Total GHG emissions (Scope 1, 2 and 3)
per floor area (tonnes/sq m)
每平方米楼面面积的温室气体
排放总量（范围1、2及3）
（吨╱平方米）0.040.04
Total GHG emissions (Scope 1, 2 and 3)
per employee (tonnes/employee)
每位雇员温室气体排放总量
（范围1、2及3）（吨╱雇员）22
Scope 1 direct emissions (tonnes)
– company fleet
范围1的直接排放量（吨）
－公司车队1818
Scope 2 indirect emissions (tonnes)
– electricity
范围2的间接排放量（吨）
－电力181187
Scope 3 indirect emissions (tonnes)
– business air travel
范围3的间接排放量（吨）
－公干航空47
Mobicon Group Limited – Annual Report 2024/2025
Environmental, Social and Governance Report
环境、社会及管治报告
本集团积极采取有效措施减少温室气体及废气排
放。本集团鼓励员工使用虚拟视频会议，以减少
交通碳排放。另外，本集团鼓励员工乘坐公共交
通工具出行，以减少私家车的废气和温室气体排
放。
本集团的五年计划是以报告期为基准年，温室气
体和废气排放强度降低5%。
本集团将不断寻求减少本集团碳足迹及改善节能
减排的方法，包括但不限于与本集团员工就环境
问题的重要性进行沟通，制订和实施减少业务过
程中的温室气体和废气排放的措施。
层面A2：资源使用
于报告期间，本集团持续透过多项节约能源措
施，提升我们的能源效益及减低能源耗用。我们
向员工宣传绿色环保理念，推动无纸化办公室、
绿色办公室和低碳生活。本集团内所有办公室和
店舖的新装修及翻新工程均采用高效能的T5光管
和LED灯照明。本集团办公室的室内温度一直维
持在摄氏25度，以减少不必要的电力消耗。办公
室和货仓的空调和照明采用分区控制，以更有效
使用能源。本集团鼓励员工于无需使用设备或下
班时，关闭电脑、显示器及设备，以节省能源。
我们规定每天最后离开办公室╱店舖的员工，须
确保冷气机、照明系统及办公室设备的电源均已
关闭。我们的措施已使排放量减低。
Our Group proactively takes effective measures to reduce emissions of
GHG and exhaust gas. Our Group encourages our staff to use virtual video
conference in order to reduce carbon emission from transportation. Our
Group also encourages our employees to travel by public transport to
reduce exhaust gas and GHG emissions by private cars.
Our Group’s five year plan is to reduce the intensity of the emissions of
GHG and exhaust gas by 5%, using the Reporting Period as the baseline
year.
Our Group will continuously seek ways to minimise our Group’s carbon
footprint and improve its energy saving, as well as reducing emissions,
including but not limited to communicating with our Group’s employees on
the importance of environmental issues, and formulating and implementing
measures in reducing GHG and exhaust gas emissions during the course of
business.
Aspect A2: Use of Resources
During the Reporting Period, our Group continued employing various
energy-saving plans to improve our energy efficiency and to lessen our
power consumption. We educated our staff on the green environment
concept and promoted paperless office, green office and low carbon
life. All new decoration or renovation in our offices or shops used high-
efficiency T5 tubes and LED lighting. Room temperature of our offices
was always kept at 25 degree Celsius to minimise unnecessary power
consumption. The air conditioners and lighting of our office/warehouse
had various zone controls to achieve energy efficiency. Employees were
encouraged to switch off the computers, monitors and equipment when
they were not in use or when the employee(s) was/were off duty to save
energy. Our staff was requested to ensure that air conditioners, lighting
and office equipment were switched off when he/she was the last one
to leave the office/shop. The amount of emissions has been reduced as a
result of our measures.
万保刚集团有限公司 – 二零二四/二零二五年年报
Environmental, Social and Governance Report
环境、社会及管治报告
本集团业务大部分在商业大厦、工业大楼及商场
营运。供水╱排水一般由大厦╱商场各自的管理
处负责。管理处并没有向个别租户提供有关用水
量的分表或数据，故本集团并未拥有有关用水量
的资料以作披露。于报告期间，本集团在采购符
合目的的水源方面未遇到任何问题。本集团在运
营中鼓励节约用水，并在可能的情况下减少水资
源浪费。
本集团的五年计划是以报告期间为基准年，能源
消耗降低5%。本集团将继续对员工进行节能教
育，以减少能源消耗。倘本集团发现任何有损环
境保护的措施，我们的政策将会作出改变。
本集团主要从事买卖及分销电子元件、电气元件
及仪器与电脑产品及手机配件，以及买卖化妆
品之业务，并不涉及大量成品包装材料。尽管如
此，对于业务活动中消耗的其他资源，本公司坚
持资源管理原则，致力于合理使用所有资源。
Indicators指标2023/20242024/2025
二零二三╱
二零二四年
二零二四╱
二零二五年
ApproximatelyApproximately
约约
Total energy consumption (kWh)能源总耗量（千瓦时）407,000418,000
Total energy consumption per floor area
(kWh/sq m)
每平方米楼面面积能源总耗量
（千瓦时╱平方米）8288
Total energy consumption per employee
(kWh/employee)
每位雇员能源总耗量
（千瓦时╱雇员）3,8003,500
Direct energy consumption (kWh)直接能源耗量（千瓦时）71,00071,600
Unleaded petrol无铅汽油7,0007,600
Diesel柴油64,00064,000
Indirect energy consumption (kWh) – electricity间接能源耗量（千瓦时）－电力336,000346,000
Our business is operated mostly in commercial buildings, industrial
buildings and shopping malls. Water supply/wastewater drainage is
generally managed by the respective building/mall management office.
The management offices do not provide meter or data in respect of the
consumption level to individual tenant, so our Group does not possess
information in respect of water consumption for disclosure. During the
Reporting Period, our Group did not encounter any problems in sourcing
water that is fit for purpose. Our Group encourages water conservation and
reduces water wastage in our operation whenever possible.
Our Group’s five-year plan is to reduce energy consumption by 5%,
using the Reporting Period as the baseline year. Our Group will continue
to educate the employees on energy-saving in order to reduce energy
consumption. Changes will be made to our policies if our Group identifies
any measures that are detrimental to environmental protection.
Our Group is principally engaged in the trading and distribution of
electronic components, electrical components and equipment and
computer products and mobile accessories and trading of cosmetic
products, hence does not involve a significant amount of packaging
materials for the finished products. Nevertheless, for other resources
consumed from our business activities, the Company upholds the principle
of resources management and is committed to the proper use of all
resources.
Mobicon Group Limited – Annual Report 2024/2025
Environmental, Social and Governance Report
环境、社会及管治报告
层面A3：环境及天然资源
虽然本集团业务性质对环境及天然资源影响甚
微，我们亦会尽最大努力以减少我们对环境的影
响。本集团向员工宣传环保理念，包括尽量减少
用纸、以电子通讯方式（如电邮或手机通讯程式）
发布资料、避免不必要的打印及减少纸张和碳粉
的使用。本集团的内网络打印机，预设双面打印
模式，以减少用纸数量。本集团鼓励员工采用双
面列印，纸张背面重用打印，以及使用影印机的
网络功能代替文件传真及档案储存，以减少纸张
消耗量。在本集团仓库，我们亦会重复再用纸
箱，直至不可再用则会进行回收。本集团办公室
设有废纸及胶樽回收箱，定期安排回收，以减少
废弃物数量，使资源得以循环再用。本集团亦会
安排回收商回收陈旧损坏的电脑、办公设备及碳
粉盒，以减低对环境的污染。本集团致力减少业
务营运所产生的废弃物。我们于办公室╱店铺进
行装修及╱或改善工程时会避免采购新设备。
Aspect A3: The Environment and Natural Resources
Although the business nature of our Group has little impact on the
environment and natural resources, we still use our best endeavour
to minimise our impact on the environment. Our Group educates our
employees on environmental protection concepts, such as using less
paper, using electronic communication (e.g. email, mobile phone Apps) to
deliver information and avoiding unnecessary printing and use of paper
and ink. The default setting of our Group network’s printers is double-sided
printing to minimise paper consumption. We encourage our staff to print
on both sides, reuse one-side-printed paper or recycle paper, and to use
network copier for sending or saving files to minimise paper consumption.
At our warehouse, our carton boxes are reused repeatedly and recycled
when they are no longer fit for use. At our offices, we provide recycle bins
for waste paper and plastic bottles and arrange for collection periodically
to reduce waste disposal and recycle materials. Old defective computers,
office equipment and printer cartridges are also collected by recyclers
to reduce environmental pollution. Our Group is committed to reducing
waste generated from our business operations. We avoid purchasing new
equipment when decorating and/or renovating our office/shops.
Indicators指标2023/20242024/2025
二零二三╱
二零二四年
二零二四╱
二零二五年
ApproximatelyApproximately
约约
Office paper purchased (kg)办公室用纸采购量（千克）1,6001,400
Carton purchased (pce)纸箱采购量（件）7,0005,000
Plastic bag purchased (pce)胶袋采购量（件）7,00012,000
Paper/carton recycled (kg)废纸╱废纸箱回收量（千克）8,0005,000
Plastic bottle recycled (pce)胶樽回收量（件）1,0001,000
万保刚集团有限公司 – 二零二四/二零二五年年报
Environmental, Social and Governance Report
环境、社会及管治报告
层面A4：气候变化
本集团认识到气候变化对其业务营运、利益相关
者和全球经济带来的伤害。本集团一直密切关注
气候变化的影响，并致力于减轻其对本集团的影
响。
物理风险：极端天气的发生频率增加，如台风和
热浪等可能会扰乱本集团的业务运营，亦阻碍员
工的交通和旅行，以及中断本集团向客户销售和
分销产品。为尽量减少潜在风险，本集团已采纳
工作应变计划，以确保员工在极端天气条件下的
安全及本集团业务的顺利运作。
转型风险：本集团期望更严格的气候立法和法规
来应对气候变化并支持全球低碳化的努力。联交
所要求在环境、社会及管治报告中加强披露可能
会导致遵循成本增加。如果本集团未能采取相关
措施满足气候变化合规要求，本集团的声誉可能
会受到影响。本集团致力于评估现有应对气候变
化的措施和计划以及监测气候相关趋势和政策的
有效性，本集团可以采取适当的措施避免因延迟
行动而导致的违规罚款、经济损失及╱或声誉风
险。
社会范畴
雇佣及劳工常规
层面B1：雇佣
人力资本为本集团业务持续发展和增长的宝贵资
产。于二零二五年三月三十一日，本集团共355
名全职雇员和21名短期和临时员工。本集团用人
唯才，不论性别、年龄、婚姻状况、家庭状况、
种族和宗教信仰。所有员工均获得平等待遇及相
同机会。尽本集团董事所知所悉，本集团在报告
期间没有发生任何歧视或骚扰个案。本集团的招
聘、晋升及薪酬只考虑员工个人的才能和表现，
绝不带任何歧视。
Aspect A4: Climate Change
Our Group recognises the harm brought by climate change to our business
operations, stakeholders and the global economy. Our Group has been
closely monitoring the impact of climate change and is committed to
mitigating its effect on our Group.
Physical Risks: the increased frequency of extreme weathers, such as
typhoons and heat wave can disrupt our Group’s business operations, for
instance, hindering the transportation and travelling of the employees, and
interrupting our Group’s sale and distribution of products to customers. To
minimise potential risks, our Group has adopted work contingency plan to
ensure the safety of the employees and smooth business operations of our
Group under extreme weather conditions.
Transition Risks: Our Group expects that more stringent climate
legislation and regulations to combat climate change and support global
efforts in decarbonisation. The enhanced disclosure in the environmental,
social and governance reports required by the Stock Exchange is likely
to result in the increase in compliance costs. Our Group’s reputation is
likely to be affected if our Group fails to implement relevant measures to
meet climate change compliance requirements. Our Group is committed to
assessing the effectiveness of the existing measures and plans in tackling
climate change and monitoring the climate-related trends and policies, so
that our Group can adopt appropriate measures to avoid non-compliances
fines, economic loss and/or reputational risks owing to delayed actions.
Social Performance
Employment and Labour Practices
Aspect B1: Employment
Human capital is a valuable asset of our Group for the sustainability and
growth of our business. As at 31st March 2025, our Group had a total of
355 full-time employees and 21 short-term and part-time staff. Our Group
follows the principle of meritocracy and employs talent, regardless of
gender, age, marital status, family status, race and religion. All employees
are treated equally and have the same opportunity. To the best information
and knowledge of our directors, there were no discrimination and no
harassment cases reported in our Group during the Reporting Period. The
recruitment, promotion and remuneration of our staff are based on their
abilities and performances without any discrimination.
Mobicon Group Limited – Annual Report 2024/2025
Environmental, Social and Governance Report
环境、社会及管治报告
为吸引、激励及保留人才，本集团向员工提供具
竞争力的薪酬和福利。我们按照员工个人表现及
本集团业务表现于年底发放酌情花红。每年本集
团亦会检讨个别员工薪酬和福利，以确保我们在
市场上保持人力资源的竞争力。
于报告期间，本集团严格遵守香港所有有关薪酬
及解雇、招聘及晋升、工作时数、假期、平等机
会、多元化、反歧视以及其他待遇及福利的对我
们有重大影响的相关雇佣法律及规例，包括但不
限于《雇佣条例》（香港法例第57章）、《强制性公
积金计划条例》（香港法例第485章）、《最低工资
条例》（香港法例第608章）及所有其他相关法例。
于报告期间，没有任何本集团雇员就雇佣事宜
向本集团提出索偿。本集团向员工提供的假期及
休息期亦较香港法例所规定的为多。除有薪年假
及公众假期外，办公室员工享有星期六及星期日
休息日，而Wishh!店舖员工每月享有五(5)天休息
日。本集团亦为员工提供医疗保险福利。
本集团的员工手册（「员工手册」）中有明确说明工
作时数及假期，该安排亦遵守当地的雇佣法。
本集团根据法定要求对雇员进行补偿。我们严禁
在任何情况下不合理解雇。于报告期间，本集团
并无任何有关薪酬及解雇、工作时间及休息期部
分的重大不合规情况。
为加强员工的积极性及增加其对本集团的归属
感，本集团举办生日广播派对及分享零食。我们
按每月、每季及每年基准提供各种杰出员工表现
奖，如最佳出勤奖、最佳清洁奖及探访客户最多
奖。本集团持续多年聘用听障人土为全职雇员。
To attract, motivate and retain talent, our Group provides our employees
with competitive remuneration and welfare. Based on personnel
performance and our Group’s business performance, there will be a
discretionary bonus at year-end. Our Group will review the remuneration
and welfare provided to individual staff every year in order to maintain our
market competitiveness on the retention of human resources.
During the Reporting Period, our Group had strictly complied with all
relevant employment laws and regulations in Hong Kong that have
a significant impact on us relating to compensation and dismissal,
recruitment and promotion, working hours, rest periods, equal opportunity,
diversity, anti-discrimination and other benefits and welfare, including but
not limited to the Employment Ordinance (Chapter 57 of the Laws of Hong
Kong), the Mandatory Provident Fund Schemes Ordinance (Chapter 485 of
the Laws of Hong Kong), the Minimum Wage Ordinance (Chapter 608 of the
Laws of Hog Kong) and all other relevant ordinances. During the Reporting
Period, no claims of employment matters were brought against our Group
by our employees. Our Group provides more holidays and rest periods than
the statutory requirements to our employees. In addition to the entitlement
of paid annual leave and statutory holidays, the office staff has paid rest
days on Saturday and Sunday, and the staff of Wishh! shops has five (5)
days off per month. Our Group also provides medical insurance benefits to
our employees.
Working hours and rest periods are clearly stated in our Group’s employee
handbook (the “Employee Handbook”) and in compliance with the local
employment laws.
Our Group compensates our employees according to the statutory
requirements. Unreasonable dismissal under any circumstances is strictly
prohibited. There was no material non-compliance on the part of our Group
relating to compensation and dismissal, working hours and rest periods
during the Reporting Period.
To boost our staff motivation and increase their sense of belonging, our
Group organises birthday broadcasting parties and snacks sharing. We
offer various kinds of awards to outstanding staff on a monthly, quarterly
and annual basis, e.g. The Best Attendance Award, The Best Cleaning
Award and The Most Customer Visit Award. Our Group has been hiring
hearing-impaired people as full-time employees for several years.
万保刚集团有限公司 – 二零二四/二零二五年年报
Environmental, Social and Governance Report
环境、社会及管治报告
2024/2025
Number of total Employee员工总人数
二零二四╱
二零二五年
By gender按性别划分
Male男性57%
Female女性43%
By age按年龄划分
30 or below30岁或以下15%
31-4031-40岁26%
41-5041-50岁30%
51 or above51岁或以上29%
By employment category按雇佣类别划分
Senior management高层3%
Middle management中层10%
General一般81%
Short-term and Part-time短期和临时员工6%
By geographical region按地区划分
Asia亚洲41%
Europe欧洲3%
Africa非洲56%
2024/2025
Employee turnover rate员工流失率
二零二四╱
二零二五年
By gender按性别划分
Male男性16%
Female女性8%
By age按年龄划分
30 or below30岁或以下20%
31-4031-40岁13%
41-5041-50岁8%
51 or above51岁或以上13%
By geographical region按地区划分
Asia亚洲15%
Europe欧洲0%
Africa非洲11%
Mobicon Group Limited – Annual Report 2024/2025
Environmental, Social and Governance Report
环境、社会及管治报告
层面B2：健康与安全
本集团承诺为每一位员工提供一个健康和安全工
作环境，向员工提供合适的设备、安全资讯和训
练。本集团亦协助提升员工对职业安全及健康的
意识。本集团进一步致力于建立一个零意外及零
工伤的健康安全工作环境。
长时间使用电脑是办公室同事常有的问题。本集
团为香港办公室每位员工提供一张玻璃台，以提
高电脑显示器或笔记型电脑放置的高度，从而鼓
励员工以正确坐姿使用电脑。我们尽力为员工提
供一个健康舒适的工作环境。
于报告期间，本集团遵守所有对其有重大影响的
有关提供安全工作环境和保障雇员避免职业性危
害之相关法律及规例，包括但不限于《职业安全
及健康条例》（香港法例第509章）。
Aspect B2: Health and Safety
We are committed to providing a healthy and safe working environment
to every employee and to providing our employees with the appropriate
equipment, safety information and training. Our Group also helps improve
our employee’s concept of work safety and health by providing relevant
trainings. Our Group further endeavours to build a healthy and safe
working environment with zero accident and zero work injury.
Prolonged usage of computers is a common problem for our employees in
office. In Hong Kong, our Group provides every employee in office with a
glass stand to elevate the position of the computer monitor or notebook
to encourage staff to have a correct posture when using a computer. We
endeavour to provide a healthy and comfortable working environment for
our employees.
During the Reporting Period, our Group had complied with the relevant
laws and regulations that have a significant impact on us relating to
providing a safe working environment and protecting our employees from
occupational hazards, including but not limited to, the Occupational Safety
and Health Ordinance (Chapter 509 of the Laws of Hong Kong).
Occupational Health and Safety Data职业健康与安全数据
2022/2023
二零二二╱
二零二三年
2023/2024
二零二三╱
二零二四年
2024/2025
二零二四╱
二零二五年
Work related fatality因工作关系而死亡案0
0宗
0宗
0宗
Work injury cases >3 days工伤案>3天0
0宗
0宗
0宗
Work injury cases ≤3 days工伤案≤3天0
0宗
0宗
0宗
Lost days due to work injury因工伤损失工作日数0 day
0天
0 day
0天
0 day
0天
万保刚集团有限公司 – 二零二四/二零二五年年报
Environmental, Social and Governance Report
环境、社会及管治报告
层面B3：发展及培训
本集团相信员工发展及培训对本集团业务发展和
增长至为关键。我们推动员工终生持续学习，鼓
励他们装备自己在最新科技或发展方面的知识，
以提升工作上的表现。本集团持续为员工提供在
职训练，提升其知识及技能。我们亦鼓励员工参
加外部实体举办的课程或培训，以提升个人专业
发展。
本集团于二零二四年获颁发香港提升快乐指数基
金的「开心工作间」。
Aspect B3: Development and Training
Our Group believes staff development and training are key factors for the
development and growth of our business. We promote lifelong continuing
learning among our staff and encourage them to equip themselves with
knowledge of the latest technology or development for improvement in
work performance. Our Group provides continuous on-the-job training to
our employees to enhance their knowledge and skills. We also encourage
our staff to attend courses or trainings for personal professional
development organized by external entities.
Our Group was awarded “Happy Company” by the Promoting Happiness
Index Foundation in 2024.
Percentage of employees trained受训雇员百分比
2024/2025
二零二四╱
二零二五年
Employee trained by gender按性别划分的受训雇员
Male男性33%
Female女性34%
Employee trained by employment category按雇佣类别划分的受训雇员
Senior management高层100%
Middle management中层59%
General一般32%
The average training hours for employees by gender and employment
category during the Reporting Period are as follows:
Average training hours for employees雇员平均培训时数
2024/2025
二零二四╱
二零二五年
By gender按性别划分
Male男性24
Female女性25
By employment category按雇佣类别划分
Senior management高层10
Middle management中层27
General一般24
于报告期间，按性别及雇佣类别划分的雇员平均
培训时数如下：
Mobicon Group Limited – Annual Report 2024/2025
Environmental, Social and Governance Report
环境、社会及管治报告
层面B4：劳工准则
于报告期间，本集团严格遵守所有对其有重大
影响的有关防止童工或强制劳工的相关法律和
规例，包括但不限于《雇佣条例》（香港法例第57
章）。于报告期间，本集团在有关预防童工和强
迫劳动的法律法规方面未发生重大违规行为。我
们不接受任何形式的强迫劳动。
我们亦严格禁止在任何工作场所和任何情况下雇
用童工。为确保求职者达到法定工作年龄，本
集团在招聘员工的过程中，会严格查核应征者的
证件和资格，以确保就此符合所有相关法律及规
例，亦会保留所有记录，在需要时作复查之用。
于报告期间，本集团未发现任何与童工或强迫劳
动有关的问题。
层面B5：供应链管理
本集团拥有ISO9001认证，我们承诺对采购及供应
链管理维持高质素水平，以提高营运效益和管理
供应链的环境及社会风险。
本集团拥有自己的采购流程以确保其供应链的质
量。我们旨在与供应商建立并保持信任，以确保
稳定可靠的合作。为确保供应商的质量，我们实
施供应商选择程序，包括但不限于对新供应商进
行尽职调查和定期检查供应商表现，以确保向本
集团提供的产品是高质量和安全的。在选择供应
商时，本集团亦会评估供应商在遵守环保常规及
社会责任方面的往绩记录。
本集团于报告期间总共有1,058名供应商。
Aspect B4: Labour Standards
During the Reporting Period, our Group had complied with all relevant laws
and regulations that have a significant impact on us relating to preventing
child and forced labour, including but not limited to the Employment
Ordinance (Chapter 57 of the Laws of Hong Kong). Our Group did not have
material non-compliance in relation to laws and regulations regarding
prevention of child and forced labour during the Reporting Period. We do
not accept any forms of forced labour.
We also prohibit employing child labour at any working place under any
circumstances. To ensure that job applicants have met the legal working
age, our Group will inspect job applicant’s documents and qualifications
strictly during the recruitment process to ensure that all relevant laws and
regulations in respect thereof are complied with, and all records will be
kept for re-inspection when needed. During the Reporting Period, we did
not identify any issue related to child labour or forced labour within our
Group.
Aspect B5: Supply Chain Management
Our Group was awarded ISO9001 certification, and we are committed to
maintaining a high standard on purchase and supply chain management
to improve our operational efficiency and manage the environmental and
social risks of the supply chain.
Our Group has our own procurement process to ensure the quality of our
supply chain. We aim to build and maintain trust with suppliers to ensure
stable and reliable cooperation. To ensure the quality of our suppliers, we
implement procedures for the suppliers’ selection, including but not limited
to, performing due diligence on the new suppliers and regular review of
the supplier performance with a view to ensuring the products provided
to our Group are of high quality and safe for their purposes. Our Group
also assesses the suppliers’ track record in complying with environmental
practices and social responsibility when selecting suppliers.
Our Group had a total of 1,058 suppliers during the Reporting Period.
万保刚集团有限公司 – 二零二四/二零二五年年报
Environmental, Social and Governance Report
环境、社会及管治报告
以下为于报告期间按地区划分的本集团供应商数
量之分析：
The following is an analysis of our Group’s number of suppliers by
geographical area during the Reporting Period:
Number of suppliers by geographical area按地区划分的供应商数量
Asia亚洲47%
Africa非洲42%
Europe欧洲11%
Total总计100%
Operating Practices
Aspect B6: Product Responsibility
Product quality is of utmost importance to our business and customers
and we have a system to ensure product quality and safety. Under our
supply chain management, our suppliers are requested to provide relevant
documents and certification to us, and we shall ensure that the quality of
our products complies with the relevant laws and regulations that have a
significant impact on us relating to health, safety and intellectual property
right matters. If there are any defects in the products supplied by the
suppliers, our Group would require the suppliers to provide alternatives so
that the products meet the legal and environmental requirements, and are
fit for our Group’s uses and purposes. Our Group constantly communicates
with the suppliers to ensure product quality.
We also use our best endeavour to ensure that our advertisements and
communication to customers do not contain any false and misleading
messages. It is our Group’s policy that if any product is found to have
health, safety and/or labelling issues, the sale and/or distribution of such
product will be suspended immediately. Our Group performs internal
checks and testing before the products are sold and delivered to the
customers. Unsatisfactory products will be rectified until they reach the
requisite standards. If there is any quality issue to our Group’s products,
our Group is prepared to recall the products and remedial actions will
be implemented immediately. Analysis of the defective products will be
carried out to avoid future recurrence. Our Group strives to maintain good
relationship with the major customers and is keen to develop business
relationships with new customers.
During the Reporting Period, our Group did not (i) record any products sold
or shipped which were subjected to recalls for safety and health reasons;
or (ii) any complaints in relation to our products sold or services provided.
营运惯例
层面B6：产品责任
产品质量对本集团业务和客户至关重要，我们建
立系统以确保产品质量和安全。在本集团的供
应链管理之下，我们要求供应商提供相关的文件
和证书，以确保向我们提供的产品都符合对本集
团有重大影响的有关健康、安全及知识产权的相
关法律及规例。如果供应商提供的产品存在任何
缺陷，本集团将会要求供应商提供替代品，以使
产品符合法律和环保要求，并适合本集团的用途
和目的。本集团不断与供应商沟通以确保产品质
量。
我们亦尽最大努力确保我们的广告和与客户的交
流不包含任何错误和误导性信息。本集团的政策
是，如果发现任何产品存在健康、安全及╱或标
签问题，则将立即暂停销售及╱或分销该产品。
本集团于产品销售及交付予客户前进行内部检查
及测试。不合格的产品将被修改，直到达到必要
的标准。如果本集团的产品出现任何质量问题，
本集团准备召回产品并立即采取补救措施。将对
有缺陷的产品进行分析，以避免日后再发生。本
集团致力与主要客户维持良好关系，并热衷于与
新客户发展业务关系。
于报告期间，本集团没有(i)记录任何因安全和健
康原因被召回的已售或发货产品；或(ii)与我们销
售的产品或提供的服务有关的任何投诉。
Mobicon Group Limited – Annual Report 2024/2025
Environmental, Social and Governance Report
环境、社会及管治报告
于报告期间，本集团遵守与我们有关的广告及标
签方面重大影响的相关法律及法规，例如《商品
说明条例》（香港法例第362章）。于报告期间，概
无对本集团有重大影响的与健康及安全、广告以
及标签有关的重大违规事项。
我们支持保护知识产权，并遵守相关法例，包括
《版权条例》（香港法例第528章）和商标条例（香港
法例第559章）。本集团尊重、遵守和保护知识产
权，承诺不销售侵犯知识产权的产品。
于报告期间，本集团未发现有任何重大侵犯本集
团的知识产权的情况。
我们尊重客户隐私，遵守《个人资料（私隐）条例》
（香港法例第486章），保护客户个人资料。我们
仅收集与经营业务有关及需要的个人资料。除非
已取得客户同意、或因法律强制、或因专业服务
如法律或核数所须的情况下，我们将不会向本集
团以外的任何机构或人士披露客户个人资料。此
外，本集团员工手册亦明确禁止任何未经授权披
露客户的个人资料。于报告期间，本集团遵守所
有对其有重大影响的有关提隐私事宜的所有相关
法律及规例并且没有违反客户隐私或丢失我们的
客户个人资料的不合规案件。
层面B7：反贪污
本集团致力于业务中维持最高的道德及诚信标
准。我们对贪污及贿赂持零容忍态度。我们所有
董事及员工必须严格遵守本集团的雇员操守守
则，以防止任何行贿及受贿行动，当有任何利益
冲突出现时，他们必须遵守相关的规则和指引。
于报告期间，本集团对董事及员工进行了反腐败
教育和培训，以提高他们对道德和腐败问题的认
识。
根据本集团的政策，雇员不得向我们的客户、潜
在客户或公司业务伙伴索取或接受任何好处。
好处和利益的形式包括但不限于金钱、礼物、借
贷、费用、报酬、职位、合约、服务或优惠等。
During the Reporting Period, our Group complied with the relevant laws
and regulations that have a significant impact on us relating to advertising
and labelling, e.g. the Trade Descriptions Ordinance (Chapter 362 of the
Laws of Hong Kong). There was no material non-compliance relating to
health and safety, advertising and labelling that have a significant impact
on our Group during the Reporting Period.
We support the protection of intellectual property rights, and comply with
relevant legislation, including the Copyright Ordinance (Chapter 528 of
the Laws of Hong Kong) and Trade Marks Ordinance (Chapter 559 of the
laws of Hong Kong). Our Group respects, observes and protects intellectual
property rights and undertakes not to sell products that infringe
intellectual property rights.
During the Reporting Period, our Group was not aware of any material
infringement of intellectual property rights of our Group.
We respect customer’s privacy and we comply with the Personal Data
(Privacy) Ordinance (Chapter 486 of the Laws of Hong Kong) in protecting
customer personal data. We only collect personal data relevant and
necessary to conduct our business. Unless with the customer’s consent or
being compelled by law or for reasons of obtaining professional services
such as legal and audit, we will not disclose customer personal data to
any organisation or person not belonged to our Group. Also, our Employee
Handbook also clearly prohibits any unauthorised disclosure of the
personal data of our customers. During the Reporting Period, our Group
had complied with all relevant laws and regulations that have a significant
impact on us relating to privacy matters and there was no non-compliance
case concerning breaches of customer privacy or losses of personal data of
our customers.
Aspect B7: Anti-Corruption
Our Group is committed to maintaining our ethics and integrity at the
highest standard in business. We have zero tolerance to corruption and
bribery. All directors and staff must strictly comply with our Group’s
employee conduct code to prevent any action of bribery and corruption and
they shall also follow relevant rules and guidelines when any conflict of
interests arises. Our Group provided anti-corruption education and training
to the directors and our employees to raise their awareness in ethical and
corruption issues during the Reporting Period.
It is our Group’s policy that our employees are not allowed to solicit
or accept any advantages from our customers, potential customers,
or company business partners. The types of advantages and interests
include but not limited to money, gifts, loans, fees, rewards, employment,
contracts, services and favours.
万保刚集团有限公司 – 二零二四/二零二五年年报
Environmental, Social and Governance Report
环境、社会及管治报告
本集团设有举报政策，鼓励员工直接向本集团最
高管理层举报任何怀疑贪污个案。接获举报后，
本集团将立即展开调查并采取适当行动尽快纠正
有关情况。举报人的身份受到保护，以避免不公
平待遇。
本集团一直严格遵守与反腐败有关的法律法规，
包括《防止贿赂条例》（香港法例第201章）。于报
告期间，本集团及员工未涉及任何贿赂、勒索、
欺诈及洗黑钱等诉讼案件。
社区
层面B8：社区投资
本集团坚决承担企业社会责任，支持社区的长远
发展。我们致力参与及举办一些能为社区带来正
面影响的活动，并考虑社区的需求及利益。我们
关注青年教育及弱势群体。我们鼓励员工参与社
区公益活动，以帮助有需要人士。本集团持续多
年聘用听障人土为全职雇员，又为中学生提供实
习机会。本集团已连续十八年荣获由香港社会服
务联会策划的「商界展关怀」标志，以表彰我们在
「乐于捐助社群」、「支持弱势社群就业」、「关怀
员工」及「关怀环境」方面履行企业社会责任。本
集团参加了「公益行善『折』食日2025」，以帮助公
益金支持的「露宿者、笼屋及板间房居民服务」。
于报告期间，本集团作出慈善及其他捐款约5,000
港元。
Our Group has a whistle-blowing policy and we encourage the employees
to report any suspected corruption case directly to our Group’s top
management. When a report is received, our Group will conduct immediate
investigations and take appropriate actions to rectify the situations as
soon as practicable. The identity of the whistle-blower is protected to
avoid unfair treatment.
Our Group has been in strict compliance with laws and regulations related
to anti-corruption, including the Prevention of Bribery Ordinance (Chapter
201 of the Laws of Hong Kong). During the Reporting Period, there was
no legal case regarding bribery, extortion, fraud and money laundering
brought against our Group or our employees.
Community
Aspect B8: Community Investment
Our Group has a strong commitment to corporate social responsibility to
support the long-term development of the communities. We endeavour
to participate in and organise activities that will bring positive influence
to the communities and take into consideration the communities’ needs
and interests. We concern youth education and vulnerable persons. We
encourage our employees to participate in community charitable activities
to help those in need. Our Group has continuously employed hearing-
impaired people as full-time employees for several years. Our Group has
also provided placement opportunities to secondary school students. Our
Group had been awarded the Caring Company Logo for 18 consecutive
years by the Hong Kong Council of Social Service in recognition of our
achievement in corporate social responsibility in areas such as “Giving”,
“Employing the Vulnerable”, “Caring the Employees” and “Caring the
Environment”. Our Group joined Skip Lunch Day 2025 in order to benefit
“Service for Street Sleepers, Residents in Cage Homes and Cubicles”
supported by The Community Chest.
During the Reporting Period, charitable and other donations made by the
Group amounted to approximately HK$5,000.
Mobicon Group Limited – Annual Report 2024/2025
Environmental, Social and Governance Report
环境、社会及管治报告
联交所《环境、社会及管治报告指
引》索引
HKEX’s Environmental, Social and Governance
Reporting Guide Index
Subject Areas and Aspects
主要范畴和层面
Corresponding
section
相关章节
A. Environmental
A.环境
Aspect A1: EmissionsEnvironmental
层面A1：排放物环境
General DisclosureInformation on:
一般披露有关废气及温室气体排放、向水及土地的排污以及有害及
无害废弃物的产生等的：
(a) the policies; and
(a) 政策；及
(b) compliance with relevant laws and regulations that have a
significant impact on the issuer relating to air and greenhouse
gas emissions, discharges into water and land, and generation
of hazardous and non-hazardous waste.
(b) 遵守对发行人有重大影响的相关法律及规例的资料。
KPI A1.1The types of emission and respective emissions data
关键绩效指标A1.1排放物种类及相关排放数据
KPI A1.2Greenhouse gas emissions in total and intensity
关键绩效指标A1.2温室气体总排放量及密度
KPI A1.3Total hazardous waste produced and intensity
关键绩效指标A1.3所产生有害废弃物总量及密度
KPI A1.4Total non-hazardous waste produced and intensity
关键绩效指标A1.4所产生无害废弃物总量及密度
KPI A1.5Description of measures to mitigate emission and results achieved
关键绩效指标A1.5描述减低排放量的措施及所得成果
KPI A1.6Description of how hazardous and non-hazardous wastes are
handled, reduction, initiatives and results achieved
关键绩效指标A1.6描述处理有害及无害废弃物的方法、减低产生量的措施及
所得成果
万保刚集团有限公司 – 二零二四/二零二五年年报
Environmental, Social and Governance Report
环境、社会及管治报告
Subject Areas and Aspects
主要范畴和层面
Corresponding
section
相关章节
Aspect A2: Use of ResourcesEnvironmental
层面A2：资源使用环境
General DisclosurePolicies on the efficient use of resources, including energy, water
and other raw materials
一般披露有效使用资源（包括能源、水及其他原材料）的政策
KPI A2.1Direct and/or indirect energy consumption by type and intensity
关键绩效指标A2.1按类型及密度划分的直接及╱或间接能源消耗量
KPI A2.2Water consumption in total and intensity
关键绩效指标A2.2总耗水量及密度
KPI A2.3Description of energy use efficiency initiatives and result achieved
关键绩效指标A2.3描述能源使用效益计划及所得成果
KPI A2.4Description of whether there is any issue in sourcing water that is fit
for purpose, water efficiency initiatives and results achieved
关键绩效指标A2.4描述求取适用水源上可有任何问题，以及提升用水效益计
划及所得成果
KPI A2.5Total packaging material used for finished products and with
reference to per unit produced
关键绩效指标A2.5制成品所用包装材料的总量及每生产单位占量
Aspect A3: The Environment and Natural ResourcesEnvironmental
层面A3：环境及天然资源环境
General DisclosurePolicies on minimising the issuer’s significant impact on the
environment and natural resources
一般披露减低发行人对环境及天然资源造成重大影响的政策
KPI A3.1Description of the significant impacts of activities on the
environment and natural resources and the actions taken to manage
them
关键绩效指标A3.1描述业务活动对环境及天然资源的重大影响及已采取管理
有关影响的行动
Aspect A4: Climate ChangeEnvironmental
层面A4：气候变化环境
General DisclosurePolicies on identification and mitigation of significant climate-
related issues which have impacted, and those which may impact,
the issuer
一般披露识别及应对已经及可能会对发行人产生影响的重大气候相
关事宜的政策
KPI A4.1Description of the significant climate-related issues which have
impacted, and those which may impact, the issuer and the actions
taken to manage them
关键绩效指标A4.1描述已经及可能会对发行人产生影响的重大气候相关事宜
以及应对行动
Mobicon Group Limited – Annual Report 2024/2025
Environmental, Social and Governance Report
环境、社会及管治报告
Subject Areas and Aspects
主要范畴和层面
Corresponding
section
相关章节
B. Social
B.社会
Aspect B1: EmploymentEmployment
层面B1：雇佣雇佣
General DisclosureInformation on:
一般披露有关薪酬及解雇、招聘及晋升、工作时数、假期、平等机
会、多元化、反歧视以及其他待遇及福利的：
(a) the policies; and
(a) 政策；及
(b) compliance with relevant laws and regulations that have a
significant impact on the issuer relating to compensation and
dismissal, recruitment and promotion, working hours, rest
periods, equal opportunity, diversity, anti-discrimination, and
other benefits and welfare.
(b) 遵守对发行人有重大影响的相关法律及规例的资料。
KPI B1.1Total workforce by gender, employment type, age group and
geographical region
关键绩效指标B1.1按性别、雇佣类型、年龄组别及地区划分的雇员总数
KPI B1.2Employee turnover rate by gender, employment type, age group and
geographical region
关键绩效指标B1.2按性别、雇佣类型、年龄组别及地区划分的雇员流失比率
Aspect B2: Health and SafetyHealth and Safety
层面B2：健康与安全健康与安全
General DisclosureInformation on:
一般披露有关提供安全工作环境及保障雇员避免职业性危害的：
(a) the policies; and
(a) 政策；及
(b) compliance with relevant laws and regulations that have
a significant impact on the issuer relating to provision of a
safe working environment and protecting employees from
occupational hazards.
(b) 遵守对发行人有重大影响的相关法律及规例的资料。
KPI B2.1Number and rate of work-related fatalities
关键绩效指标B2.1因工作关系而死亡的人数及比率
KPI B2.2Lost days due to work injury
关键绩效指标B2.2因工伤损失工作日数
KPI B2.3Description of occupational health and safety measures adopted,
how they are implemented and monitored
关键绩效指标B2.3描述所采纳的职业健康与安全措施，以及相关执行及监察
方法
万保刚集团有限公司 – 二零二四/二零二五年年报
Environmental, Social and Governance Report
环境、社会及管治报告
Subject Areas and Aspects
主要范畴和层面
Corresponding
section
相关章节
Aspect B3: Development and TrainingDevelopment and
Training
层面B3：发展及培训发展及培训
General DisclosurePolicies on improving employees’ knowledge and skills for
discharging duties at work and description of training activities
一般披露有关提升雇员履行工作职责的知识及技能的政策以及描述
培训活动
KPI B3.1The percentage of employees trained by gender and employee
category (e.g. senior management, middle management)
关键绩效指标B3.1按性别及雇员类别（如高级管理层、中级管理层）划分的受
训雇员百分比
KPI B3.2The average training hours completed per employee by gender and
employee category
关键绩效指标B3.2按性别及雇员类别划分的每名雇员完成受训的平均时数
Aspect B4: Labour StandardsLabour Standards
层面B4：劳工准则劳工准则
General DisclosureInformation on:
一般披露有关防止童工及强制劳工的：
(a) the policies; and
(a) 政策；及
(b) compliance with relevant laws and regulations that have a
significant impact on the issuer relating to preventing child
and forced labour.
(b) 遵守对发行人有重大影响的相关法律及规例的资料。
KPI B4.1Description of measures to review employment practices to avoid
child and forced labour
关键绩效指标B4.1描述检讨招聘惯例的措施以避免童工及强制劳工
KPI B4.2Description of steps taken to eliminate such practices when
discovered
关键绩效指标B4.2描述在发现违规情况时消除有关情况所采取的步骤
Mobicon Group Limited – Annual Report 2024/2025
Environmental, Social and Governance Report
环境、社会及管治报告
Subject Areas and Aspects
主要范畴和层面
Corresponding
section
相关章节
Aspect B5: Supply Chain ManagementSupply Chain
Management
层面B5：供应链管理供应链管理
General DisclosurePolicies on managing environmental and social risks of the supply
chain
一般披露管理供应链的环境及社会风险政策
KPI B5.1Number of suppliers by geographical region
关键绩效指标B5.1按地区划分的供应商数目
KPI B5.2Description of practices relating to engaging suppliers, number of
suppliers where the practices are being implemented, and how they
are implemented and monitored
关键绩效指标B5.2描述有关聘用供应商的惯例，向其执行有关惯例的供应商
数目，以及有关惯例的执行及监察方法
KPI B5.3Description of practices used to identify environmental and social
risks along the supply chain, and how they are implemented and
monitored
关键绩效指标B5.3描述用于识别供应链的环境及社会风险的惯例，以及有关
惯例的执行及监察方法
KPI B5.4Description of practices used to promote environmentally preferable
products and services when selecting suppliers, and how they are
implemented and monitored
关键绩效指标B5.4描述在选择供应商时促使多用环保产品及服务的惯例，以
及有关惯例的执行及监察方法
万保刚集团有限公司 – 二零二四/二零二五年年报
Environmental, Social and Governance Report
环境、社会及管治报告
Subject Areas and Aspects
主要范畴和层面
Corresponding
section
相关章节
Aspect B6: Product ResponsibilityProduct
Responsibility
层面B6：产品责任产品责任
General DisclosureInformation on:
一般披露有关所提供产品和服务的健康与安全、广告、标签及私隐
事宜以及补救方法的：
(a) the policies; and
(a) 政策；及
(b) compliance with relevant laws and regulations that have a
significant impact on the issuer relating to health and safety,
advertising, labelling and privacy matters relating to products
and services provided and methods of redress.
(b) 遵守对发行人有重大影响的相关法律及规例的资料。
KPI B6.1Percentage of total products sold or shipped subject to recalls for
safety and health reasons
关键绩效指标B6.1已售或已运送产品总数中因安全与健康原因而须回收的百
分比
KPI B6.2Number of products and service related complaints received and
how they are dealt with
关键绩效指标B6.2接获关于产品及服务的投诉数目以及应对方法
KPI B6.3Description of practices relating to observing and protecting
intellectual property rights
关键绩效指标B6.3描述与维护及保障知识产权有关的惯例
KPI B6.4Description of quality assurance process and recall procedures
关键绩效指标B6.4描述质量检定过程及产品回收程序
KPI B6.5Description of consumer data protection and privacy policies, how
they are implemented and monitored
关键绩效指标B6.5描述消费者资料保障及私隐政策，以及相关执行及监察方
法
Mobicon Group Limited – Annual Report 2024/2025
Environmental, Social and Governance Report
环境、社会及管治报告
Subject Areas and Aspects
主要范畴和层面
Corresponding
section
相关章节
Aspect B7: Anti-CorruptionAnti-Corruption
层面B7：反贪污反贪污
General DisclosureInformation on:
一般披露有关防止贿赂、勒索、欺诈及洗黑钱的：
(a) the policies; and
(a) 政策；及
(b) compliance with relevant laws and regulations that have a
significant impact on the issuer relating to bribery, extortion,
fraud and money laundering.
(b) 遵守对发行人有重大影响的相关法律及规例的资料。
KPI B7.1Number of concluded legal cases regarding corrupt practices
brought against the issuer or its employees during the reporting
period and the outcomes of the cases
关键绩效指标B7.1于报告期间对发行人或其雇员提出并已审结的贪污诉讼案
件的数目及诉讼结果
KPI B7.2Description of preventive measures and whistle-blowing procedures,
how they are implemented and monitored
关键绩效指标B7.2描述防范措施及举报程式，以及相关执行及监察方法
KPI B7.3Description of anti-corruption training provided to directors and staff
关键绩效指标B7.3描述向董事和员工提供的反腐败培训
Aspect B8: Community InvestmentCommunity
Investment
层面B8：社区投资社区投资
General DisclosurePolicies on community engagement to understand the needs of the
communities where the issuer operates and to ensure its activities
take into consideration the communities’ interests
一般披露有关以社区参与来了解营运所在社区需要和确保其业务活
动会考虑社区利益的政策
KPI B8.1Focus areas of contribution (e.g. education, environmental concerns,
labour needs, health, culture, sport)
关键绩效指标B8.1专注贡献范畴（如教育、环境事宜、劳工需求、健康、文
化、体育）
KPI B8.2Resources contributed (e.g. money or time) to the focus area
关键绩效指标B8.2对专注范畴的资源投入（如金钱或时间）
万保刚集团有限公司 – 二零二四/二零二五年年报
Report of the Directors
董事会报告
The directors submit their report together with the audited consolidated
financial statements of Mobicon Group Limited (the “Company”) and its
subsidiaries (collectively referred to as the “Group”) for the Year Under
Review.
Principal Activities
The Company is an investment holding company. Its subsidiaries
are principally engaged in the trading and distribution of electronic
components, electrical components, equipment and computer products and
mobile accessories and trading of cosmetic products.
An analysis of the Group’s performance for the year by business and
geographical segments is set out in Note 5 to the consolidated financial
statements.
Business Review
A fair review of the business of the Group as required pursuant to Schedule
5 to the Companies Ordinance (Chapter 622 of the laws of Hong Kong), is
set out in the sections “CEO’s Statement” on pages 7 to 10 and “Business
review” on pages 11 to 12, of this Annual Report respectively. An analysis
using financial key performance indicators, a discussion of the Group’s
environmental policies and performance, and its compliance with the
relevant laws and regulations that have a significant impact on the Group
as well as an account of the key relationships with its stakeholders are
set out in the sections “Five Year Financial Summary” on pages 175
and 176, “Revenue and Segment Information” on pages 129 to 135, and
“Major Customers and Suppliers” of this Report of the Directors on page
68 respectively. Detailed information on the environmental, social and
governance practices adopted by the Group is set out in the sections
headed “Environmental, Social and Governance Report” (“ESG Report”) of
this annual report.
Results and Appropriations
The results of the Group for the Year Under Review are set out in the
consolidated statement of profit or loss and the consolidated statement of
comprehensive income on pages 77 and 78 respectively.
The directors declared an interim dividend of HK0.5 cent per ordinary
share, totalling HK$1 million, which was paid on 27th December 2024.
The directors recommend the payment of a final dividend of HK0.25 cent
per ordinary share, totalling HK$0.5 million for the Year Under Review.
董事谨此提呈彼等之报告，连同万保刚集团有限
公司（「本公司」）及其附属公司（统称「本集团」）回
顾年度之经审核综合财务报表。
主要业务
本公司乃一间投资控股公司。旗下附属公司主要
从事买卖及分销电子元件、电气元件及仪器与电
脑产品及手机配件，以及买卖化妆品之业务。
本集团于年内按业务及地区划分之表现分析载于
综合财务报表附注5。
业务回顾
本集团根据公司条例（香港法例第622章）附表5之
规定而编制之中肯业务回顾分别载于本年报第7
页至第10页之「行政总裁报告」及第11页至第12页
之「业务回顾」。使用关键财务绩效指标作出的
分析、本集团环境政策及表现的讨论及有关对本
集团有重大影响的相关法律及法规的合规情况以
及与利益相关者的重要关系的描述，分别载于第
175页及第176页之「五年财务概要」、第129页至
第135页之「收益及分部资料」及第68页之董事会
报告「主要客户及供应商」内。有关本集团采纳
的环境、社会及管治惯例的详细资料载于本年报
「环境、社会及管治报告」（「环境、社会及管治报
告」）一节。
业绩及分派
本集团于回顾年度之业绩分别载于第77页及第78
页之综合损益表及综合全面收益表。
董事已宣派中期股息每股普通股0.5港仙，合共
1,000,000港元，有关股息已于二零二四年十二月
二十七日派付。
董事建议派付回顾年度末期股息每股普通股0.25
港仙，合共500,000港元。
Mobicon Group Limited – Annual Report 2024/2025
Report of the Directors
董事会报告
暂停办理股份过户登记手续
本公司将于二零二五年八月八日至二零二五年八
月十三日（包括首尾两日）期间暂停办理股份过
户登记手续，在此期间将不会办理任何股份过
户。为确定出席股东周年大会之权利，所有过户
文件连同有关股票必须于二零二五年八月七日下
午四时三十分前送抵本公司之香港股份过户登记
分处香港中央证券登记有限公司之办事处，地址
为香港皇后大道东183号合和中心17楼1712–1716
室，以办理登记手续。本公司将于二零二五年八
月十九日至二零二五年八月二十一日期间暂停办
理股份过户登记手续，在此期间将不会办理任何
股份过户，而末期股息将于二零二五年九月一日
派付。为符合资格收取末期股息，所有填妥之股
份过户表格连同有关股票必须于二零二五年八月
十八日下午四时三十分前送抵本公司之股份过户
登记分处香港中央证券登记有限公司（地址见上
文），以办理登记手续。
股本
于回顾年度，本公司股本变动详情载于综合财务
报表附注25。
储备
回顾年度，本公司及本集团之储备变动详情分别
载于综合财务报表附注30及综合权益变动表。
捐款
回顾年度，本集团作出慈善及其他捐款约5,000港
元。
物业、厂房及设备
回顾年度，本集团之物业、厂房及设备变动详情
载于综合财务报表附注14。
优先购买权
本公司之公司细则并无有关优先购买权之规定，
而百慕达法例亦无有关该权利之限制。
Closure of Register of Members
The Register of Members of the Company will be closed from 8th August
2025 to 13th August 2025, both days inclusive, during which period no
transfer of shares will be effected. In order to ascertain the right to
attend the annual general meeting, all transfers accompanied by the
relevant share certificates must be lodged with the Company’s branch
share registrar in Hong Kong, Computershare Hong Kong Investor Services
Limited at its office situated at Shops 1712–1716, 17th Floor, Hopewell
Centre, 183 Queen’s Road East, Hong Kong for registration not later than
4:30 p.m. on 7th August 2025. The Register of Members of the Company
will be closed from 19th August 2025 to 21st August 2025, during which
period no transfer of shares will be effected, and the final dividend will
be paid on 1st September 2025. In order to qualify for the final dividend,
all completed share transfer forms accompanied by the relevant share
certificates must be lodged with the Company’s branch share registrar in
Computershare Hong Kong Investor Services Limited at the above address
for registration not later than 4:30 p.m. on 18th August 2025.
Share Capital
Details of the movements in the share capital of the Company during the
Year Under Review are set out in Note 25 to the consolidated financial
statements.
Reserves
Details of movements in the reserves of the Company and of the Group
during the Year Under Review are set out in Note 30 to the consolidated
financial statements and in the consolidated statement of changes in
equity, respectively.
Donations
Charitable and other donations made by the Group during the Year Under
Review amounted to approximately HK$5,000.
Property, Plant and Equipment
Details of the movements in the property, plant and equipment of the
Group during the Year Under Review are set out in Note 14 to the
consolidated financial statements.
Pre-Emptive Rights
There is no provision for pre-emptive rights under the Company’s bye-laws
and there is no restriction against such rights under the laws in Bermuda.
万保刚集团有限公司 – 二零二四/二零二五年年报
Report of the Directors
董事会报告
购买、出售或赎回股份
本公司于回顾年度并无赎回任何股份，而本公司
或其任何附属公司于回顾年度内亦无买卖本公司
任何上市股份。
董事
回顾年度及截至本年报日期之在任董事如下：
执行董事
洪剑峰博士（主席）
杨敏仪女士（副主席兼行政总裁）
洪英峰先生
杨国梁先生
独立非执行董事
叶富华先生
梁伟祥博士
古永康先生
根据本公司之公司细则，洪英峰先生、梁伟祥博
士及叶富华先生须于应届股东周年大会轮值告
退，并符合资格并愿意膺选连任。
根据守则的守则条文第B.2.3条，任期（即出任公
司独立非执行董事超过九年）为厘定独立非执行
董事独立性的其中一项因素，而再度委任独立非
执行董事须另行提呈决议案并获公司股东批准，
方造作实。
Purchase, Sale or Redemption of Shares
The Company has not redeemed any of its shares during the Year Under
Review. Neither the Company nor any of its subsidiaries has purchased or
sold any of the Company’s listed shares during the Year Under Review.
Directors
The directors who held office during the Year Under Review and up to the
date of this annual report were:
Executive directors
Dr. Hung Kim Fung, Measure (Chairman)
Ms. Yeung Man Yi, Beryl (Deputy Chairman and Chief Executive Officer)
Mr. Hung Ying Fung
Mr. Yeung Kwok Leung, Allix
Independent non-executive directors
Mr. Ip Fu Wa, Benthony
Dr. Leung Wai Cheung
Mr. Ku Wing Hong, Eric
Mr. Hung Ying Fung, Dr. Leung Wai Cheung and Mr. Ip Fu Wa, Benthony,
are required to retire by rotation under the Company’s bye-laws and, being
eligible, offer themselves for re-election at the forthcoming annual general
meeting.
Pursuant to Code Provision B.2.3 of the Code, the length of tenure (i.e.
serving more than nine years as an independent non-executive director
of a company) is one of the factors in determining the independence of
an independent non-executive director, and the further appointment of
an independent non- executive director shall be subject to a separate
resolution to be approved by shareholders of the company.
Mobicon Group Limited – Annual Report 2024/2025
Report of the Directors
董事会报告
虽然梁伟祥博士（「梁博士」）自二零零一年四月
十八日起出任独立非执行董事已超过24年，但
由于梁博士符合上市规则第3.13条所载的独立指
引，董事会认为彼的长期出任并不影响其独立
性。梁博士亦独立于本公司的业务营运，且与本
公司任何董事、控股股东或主要股东概无关系。
梁博士不时向董事会提供独立意见，并于过去多
年继续紧守其独立非执行董事的角色。提名委员
会及董事会已考虑其对本公司的贡献及服务，并
根据上市规则第3.13条审视其专业知识、专业资
格及其独立性，以决定梁博士是否符合本公司提
名政策的甄选准则。董事会及提名委员会均认
为，梁博士具备出任本公司董事所需之品格和诚
信。因此，董事会认为梁博士属独立人士，并建
议于应届股东周年大会上重选梁博士为独立非执
行董事。
董事服务合约
本公司各执行董事（洪剑峰博士除外，彼与本公
司并无订立任何服务合约）已各自与本公司订立
服务合约，自二零零一年四月一日起计，初步固
定任期为三年，其后一直存续，直至其中一方向
另一方发出不少于三个月之书面通知予以终止为
止。
除上文披露者外，拟于应届股东周年大会膺选连
任之董事概无与本公司订立本公司不可于一年内
免付赔偿（法定赔偿除外）予以终止之服务合约。
购股权计划
本公司于二零零三年八月八日采纳一项购股权计
划，该计划已于二零一三年八月七日届满。本公
司其后并无采纳任何购股权计划。
Notwithstanding Dr. Leung Wai Cheung (“Dr. Leung”) has served as an
INED for more than 24 years since 18th April 2001, the Board is of the
view that his independence is not affected by his long service as Dr. Leung
met the independence guidelines set out in Rule 3.13 of the Listing
Rules. Dr. Leung is also independent from the business operations of
the Company and he is not related to any of the Directors, controlling or
substantial shareholders of the Company. Dr. Leung has from time to time
provided independent advice to the Board and continues to demonstrate
a firm commitment to his role as an INED throughout the past years. The
Nomination Committee and the Board have considered his contributions
and services to the Company and reviewed his expertise and professional
qualifications and his independence pursuant to Rule 3.13 of the Listing
Rules to determine whether Dr. Leung satisfies the selection criteria of
the nomination policy of the Company. Both the Board and the Nomination
Committee believe that he possesses the required character and integrity
to act as a director of the Company. Hence, the Board considers that
Dr. Leung as independent and recommends the re-election of Dr. Leung
as an independent non-executive director at the upcoming annual general
meeting.
Directors’ Service Contracts
Each of the executive directors of the Company (except Dr. Hung Kim Fung,
Measure who did not enter into any service contract with the Company)
has entered into a service contract with the Company for an initial fixed
term of three years commencing from 1st April 2001, and will continue
thereafter until terminated by not less than three months’ notice in writing
served by either party on the other.
Save as disclosed above, none of the directors who are proposed for re-
election at the forthcoming annual general meeting has a service contract
with the Company which is not determinable by the Company within one
year without payment of compensation other than statutory compensation.
Share Option Scheme
The Company adopted a share option scheme on 8th August 2003, which
had expired on 7th August 2013. No share option scheme has been adopted
by the Company afterwards.
万保刚集团有限公司 – 二零二四/二零二五年年报
Report of the Directors
董事会报告
董事及主要行政人员于股本及债务
证券之权益
于二零二五年三月三十一日，本公司各董事及主
要行政人员以及其联系人士于本公司及其相联法
团（定义见证券及期货条例（「证券及期货条例」）
第XV部）之股份、相关股份及债券中，拥有已记
入本公司根据证券及期货条例第352条存置之登
记册之权益及淡仓，或已根据证券及期货条例第
XV部第7及8分部或上市发行人董事进行证券交易
的标准守则（「标准守则」）另行知会本公司及联交
所之权益及淡仓如下：
本公司每股面值0.10港元之普通股
Directors’ and Chief Executive’s Interests in
Equity and Debt Securities
As at 31st March 2025, the interests and short positions of each director
and chief executive of the Company and his/her associates in the shares,
underlying shares and debentures of the Company and its associated
corporations (within the meaning of Part XV of the Securities and Futures
Ordinance (“SFO”)), as recorded in the register maintained by the Company
under Section 352 of the SFO or as otherwise notified to the Company and
the Stock Exchange pursuant to Divisions 7 and 8 of Part XV of the SFO or
the Model Code for Securities Transactions by Directors of Listed Issuers
(the “Model Code”), were as follows:
Ordinary shares of HK$0.10 each in the Company
Number of shares
股份数目
Name of Director
Long/short
position
Personal
interests
Family
interests
Corporate
interestsPercentage
董事姓名好仓╱淡仓个人权益家属权益公司权益百分比
Dr. Hung Kim Fung, MeasureLong–90,000,00090,000,00045%
洪剑峰博士好仓(Note a)
（附注a）
Ms. Yeung Man Yi, BerylLong–90,000,00090,000,00045%
杨敏仪女士好仓(Note a)
（附注a）
Mr. Hung Ying FungLong26,990,000––13.50%
洪英峰先生好仓
Mr. Yeung Kwok Leung, AllixLong–30,000,00030,000,00015%
杨国梁先生好仓(Note b)
（附注b）
Mobicon Group Limited – Annual Report 2024/2025
Report of the Directors
董事会报告
董事及主要行政人员于股本及债务
证券之权益（续）
本公司每股面值0.10港元之普通股（续）
附注：
(a) 此等股份由M2B Holding Limited持有，该公司分
别由洪剑峰博士及其妻子杨敏仪女士拥有50%
及50%权益。因此，根据证券及期货条例，洪
剑峰博士及杨敏仪女士被视作于90,000,000股本
公司股份中拥有权益。洪剑峰博士及杨敏仪女
士被视作拥有相同权益，两者毫无二致。
(b) 此等股份由Bestmark Management Limited持有，
该公司分别由杨国梁先生及其妻子云林琼女
士拥有50%及50%权益。因此，根据证券及期
货条例，杨国梁先生及云林琼女士被视作于
30,000,000股本公司股份中拥有权益。杨国梁先
生及云林琼女士被视作拥有相同权益，两者毫
无二致。
证券交易之标准守则
于回顾年度，本公司采纳有关董事进行本公司证
券交易之操守准则，有关规定标准不会较上市规
则附录C3标准守则所载规定标准宽松。在向本公
司董事作出一切合理查询后，本公司认为，董事
于回顾年度一直遵守上述操守准则。
董事及行政人员之弥偿保证
本公司一直投购保险，以弥偿董事及高级管理层
因履行本公司董事或高级管理层（视情况而定）
之职责而产生之任何损失、索偿、损害赔偿、债
务、开支及针对彼等提出之任何诉讼。本公司已
续订现有保单并将定期检讨。
董事于合约之权益
除本报告中「关连交易」一段及综合财务报表附注
28披露者外，本公司或其任何附属公司概无订立
本公司董事直接或间接于其中拥有重大权益，与
本集团业务相关，且于年末或回顾年度任何时间
为有效之任何重大合约。
Directors’ and Chief Executive’s Interests in
Equity and Debt Securities (continued)
Ordinary shares of HK$0.10 each in the Company
(continued)
Notes:
(a) These shares are held by M2B Holding Limited, a company owned as to 50% by
Dr. Hung Kim Fung, Measure and the remaining 50% by his wife, Ms. Yeung Man
Yi, Beryl. Accordingly, Dr. Hung Kim Fung, Measure and Ms. Yeung Man Yi, Beryl
were deemed to be interested in 90,000,000 shares of the Company under SFO. Dr.
Hung Kim Fung, Measure and Ms. Yeung Man Yi, Beryl were in respect of the same
interest and duplicated each other.
(b) These shares are held by Bestmark Management Limited, a company owned as to
50% by Mr. Yeung Kwok Leung, Allix and the remaining 50% by his wife, Ms. Wan
Lam Keng. Accordingly, Mr. Yeung Kwok Leung, Allix and Ms. Wan Lam Keng were
deemed to be interested in 30,000,000 shares of the Company under SFO. Mr. Yeung
Kwok Leung, Allix and Ms. Wan Lam Keng were in respect of the same interest and
duplicated each other.
Model Code for Securities Transactions
During the Year Under Review, the Company had adopted a Code of
Conduct regarding directors’ transactions in securities of the Company on
terms no less exacting than the required standard set out in the Model
Code under Appendix C3 to the Listing Rules. Having made all reasonable
enquires with the directors of the Company, the Company was of the view
that the directors had complied with the said Code of Conduct throughout
the Year Under Review.
Directors and Officers’ Indemnity
The Company continues to subscribe for an insurance policy to indemnify
the directors and senior management against any losses, claims, damages,
liabilities, expenses and any proceedings brought against them, arising
from the performance of his/her duties as director or senior management
(as the case may be) of the Company. The current policy has been renewed
and shall be under constant review.
Directors’ Interests in Contracts
Save as disclosed in the paragraph headed “Connected Transactions”
in this report and Note 28 to the consolidated financial statements, no
contract of significance in relation to the Group’s business to which the
Company or its subsidiaries was a party and in which a director of the
Company had a material interest, whether directly or indirectly, subsisted
at the end of the year or at any time during the Year Under Review.
万保刚集团有限公司 – 二零二四/二零二五年年报
Report of the Directors
董事会报告
控股股东于合约中之权益
于回顾年度，控股股东及任何其附属公司概无与
本集团订立任何重大合约。
相关法规及规例之合规事宜
于回顾年度，就董事会及管理层所悉，本集团概
无严重违反或不遵守适用法规及规例，以致重大
影响本集团之业务及经营。
主要股东及其他人士于本公司股本
中拥有之权益
于二零二五年三月三十一日，据本公司董事所知
悉，下列人士（不包括本公司董事或主要行政人
员）于本公司股份及相关股份中拥有根据证券及
期货条例第XV部第2及3分部之条文须向本公司披
露之权益或淡仓：
Controlling Shareholders’ Interests in
Contracts
No contracts of significance between the controlling shareholders and any
of its subsidiaries and the Group was made during the Year Under Review.
Compliance with Relevant Laws and
Regulations
During the Year Under Review, as far as the Board and the management
are concerned, there was no material breach or non-compliance with the
applicable laws and regulations by the Group that has material impact on
the business and operations of the Group.
Interests of Substantial Shareholders and Other
Persons in the Share Capital of the Company
As at 31st March 2025, so far as is known to the directors of the Company,
the following persons (other than a director or the chief executive of the
Company) had an interest or short position in the shares and underlying
shares of the Company which would fall to be disclosed to the Company
under the provisions of Divisions 2 and 3 of Part XV of the SFO:
Number of shares
股份数目
Name
Long/short
position
Beneficial
owner
Family
interestsPercentage
名称╱姓名好仓╱淡仓实益拥有人家属权益百分比
M2B Holding LimitedLong90,000,000–45%
好仓(Note a)
（附注a）
Bestmark Management LimitedLong30,000,000–15%
好仓(Note b)
（附注b）
Ms. Wan Lam KengLong–30,000,00015%
云林琼女士好仓(Note b)
（附注b）
Notes:
(a) Please refer to Note (a) under the section headed “Directors’ and Chief Executive’s
Interests in Equity and Debt Securities”.
(b) Please refer to Note (b) under the section headed “Directors’ and Chief Executive’s
Interests in Equity and Debt Securities”. The interests of Bestmark Management
Limited and Ms. Wan Lam Keng were in respect of the same interest and duplicated
each other.
附注：
(a) 请参阅「董事及主要行政人员于股本及债务证券之
权益」一节附注(a)。
(b) 请参阅「董事及主要行政人员于股本及债务证券之
权益」一节附注(b)。Bestmark Management Limited及
云林琼女士被视作拥有相同权益，两者毫无二致。
Mobicon Group Limited – Annual Report 2024/2025
Report of the Directors
董事会报告
除上文披露者外，于二零二五年三月三十一日，
按本公司根据证券及期货条例第336条存置之权
益登记册之记录，概无任何人士于本公司股份或
相关股份中拥有根据证券及期货条例第XV部第2
及3分部之条文须向本公司披露之任何权益或淡
仓。
管理合约
本公司于回顾年度并无订立或订有任何有关本公
司全部业务或其中任何重大部分之管理及行政合
约。
主要客户及供应商
于回顾年度，本集团向其五大客户出售之货品少
于本集团货品之10%。
回顾年度，本集团主要供应商应占采购百分比如
下：
－最大供应商 10%
－五大供应商合计 29%
概无董事、彼等之联系人士或任何股东（据董事
所深知拥有本公司股本逾5%之人士）于该等主要
供应商或客户中拥有任何权益。
足够公众持股量
根据本公司可公开取得之资料并就董事所深知，
于本年报日期，公众持股量占本公司已发行股本
总数不少于25%。
董事于竞争业务之权益
除了本集团之业务外，董事或彼等各自之联系人
士概无于任何目前或可能与本集团业务直接或间
接竞争之业务中拥有权益。
Save as disclosed above, as at 31st March 2025, according to the register
of interests required to be kept by the Company under Section 336 of
the SFO, there was no person who had any interest or short position in
the shares or underlying shares of the Company which would fall to be
disclosed to the Company under the provisions of Divisions 2 and 3 of Part
XV of the SFO.
Management Contracts
No contracts concerning the management and administration of the whole
or any substantial part of the business of the Company were entered into
or existed during the Year Under Review.
Major Customers and Suppliers
During the Year Under Review, the Group sold less than 10% of its goods
to its five largest customers.
The percentages of purchases for the Year Under Review attributable to
the Group’s major suppliers are as follows:
– the largest supplier 10%
– five largest suppliers in aggregate 29%
None of the directors, their associates or any shareholders (which to the
knowledge of the directors owns more than 5% of the Company’s share
capital) had an interest in these major suppliers or customers.
Sufficiency of Public Float
Based on information that is publicly available to the Company and within
the knowledge of the directors, at least 25% of the Company’s total issued
share capital was held by the public as at the date of this annual report.
Directors’ Interests in a Competing Business
None of the Directors or their respective associates was interested in,
apart from the Group’s business, any business which competes or is likely
to compete, either directly or indirectly, with the business of the Group.
万保刚集团有限公司 – 二零二四/二零二五年年报
Report of the Directors
董事会报告
关连交易
于回顾年度，本集团于正常业务过程中与适用会
计准则所定义的「关联方」订立若干交易，而有关
重大关联方交易（「该等交易」）的详情披露于本年
报综合财务报表附注28。
除于本年报所披露者外，该等交易属上市规则第
14A章所定义之「关连交易」或「持续关连交易」，
惟获完全豁免遵守上市规则第14A章项下股东批
准、年度检讨及所有披露规则。
获豁免关连交易
本集团占用下列向M-Bar Limited（「M-Bar」）租用之
店舖及物业。M-Bar为一间由洪剑峰博士、杨敏
仪女士、洪英峰先生及杨国梁先生分别实益拥有
30%、30%、20%及20%权益的公司，上述人士均
为本公司执行董事。
于二零二三年九月二十六日，MHL就香港九龙新
蒲岗太子道东704号及景福街104号新时代工贸商
业中心7楼1至11号单位及8楼1至4号单位，以及
香港九龙新蒲岗大有街35号义发工业大厦1楼其
中部分及3楼其中部分之续租事宜与M-Bar订立一
份新租赁协议，租期由二零二三年十月一日起至
二零二四年九月三十日止为期一年，月租合共
232,000港元。
于二零二四年九月二十六日，MHL与M-bar就相
同物业之续租事宜订立新租赁协议，租期由二零
二四年十月一日起至二零二五年九月三十日止为
期一年，月租合共232,000港元。
该等租用物业用作本集团总部、存货及辅助办公
室以及货仓用途。
Connected Transactions
During the Year Under Review, the Group entered into certain transactions
with “related parties” in the normal course of business as defined under
the applicable accounting standards and the details of the material related
party transactions (the “Transactions”) are disclosed in Note 28 to the
consolidated financial statements of this annual report.
Save as disclosed in this annual report, the Transactions falls under
the definition of “connected transactions” or “continuing connected
transactions” under Chapter 14A of the Listing Rules, but are fully
exempted from shareholders’ approval, annual review and all disclosure
requirements under Chapter 14A of the Listing Rules.
Exempted Connected Transactions
The Group occupies the following shops and premises leased from M-Bar
Limited (“M-Bar”). M-Bar is a company beneficially owned as to 30% by Dr.
Hung Kim Fung, Measure, 30% by Ms. Yeung Man Yi, Beryl, 20% by Mr.
Hung Ying Fung and as to the remaining 20% by Mr. Yeung Kwok Leung,
Allix, all of whom being the executive directors of the Company.
On 26th September 2023, MHL entered into a new tenancy agreement with
M-Bar for the lease agreements in respect of Units 1–11 on 7th Floor and
Units 1–4 on 8th Floor, New Trend Centre, 704 Prince Edward Road East,
104 King Fuk Street, San Po Kong, Kowloon, Hong Kong, and Portion of 1st
Floor and Portion of 3rd Floor of Efficiency House, 35 Tai Yau Street, San Po
Kong, Kowloon, Hong Kong, for a term of one year from 1st October 2023
to 30th September 2024 at an aggregate monthly rental of HK$232,000.
On 26th September 2024, MHL entered into a new tenancy agreement with
M-bar to renew the tenancies in respect of the same premises for a term of
one year from 1st October 2024 to 30th September 2025 at an aggregated
monthly rental of HK$232,000.
The leased premises are used as the headquarters of the Group, storage
with ancillary office and godown for storage.
Mobicon Group Limited – Annual Report 2024/2025
Report of the Directors
董事会报告
回顾年度，本集团已向M-Bar支付租金开支零港
元（附注28）。于二零二四年二月二十九日及于二
零二四年九月三十日，MHL与M-Bar订立豁免契
据，据此，M-Bar同意豁免MHL支付上述物业由二
零二四年四月一日至二零二五年三月三十一日期
间的租金，金额为2,784,000港元。
本公司已遵守上市规则第14A章之披露规定。
可供分派储备
根据百慕达公司法（经修订），留存溢利及缴入
盈余可供分派予股东，惟倘本公司(i)于作出分派
后无法偿还到期负债，或(ii)其可变现资产值将因
而少于其负债以及其已发行股本及股份溢价之总
和，则本公司不可使用留存溢利及缴入盈余宣派
或派付股息或作出分派。
本公司于二零二五年三月三十一日之可供分派储
备约为59,817,000港元（二零二四年：约61,823,000
港元）。
五年财务概要
本集团过去五个财政年度各年之业绩及资产与负
债概要载于第175页及第176页。
核数师
回顾年度之综合财务报表已经由国卫会计师事务
所有限公司审核，其将于应届股东周年大会上任
满。本公司将于应届股东周年大会上提呈一项决
议案，续聘国卫会计师事务所有限公司为本公司
来年之核数师。
代表董事会
主席
洪剑峰
香港，二零二五年六月二十五日
During the Year Under Review, the Group paid rental expenses
amounting to HK$nil (Note 28) to M-Bar. On 29th February 2024 and on
30th September 2024, MHL and M-Bar entered into a deed of waiver,
pursuant to which M-Bar agreed to waive in favour of MHL the rent of the
abovementioned premises for the period from 1st April 2024 to 31st March
2025, amounting to HK$2,784,000.
The Company has complied with the disclosure requirements under
Chapter 14A of the Listing Rules.
Distributable Reserves
Under the Companies Act of Bermuda (as amended), retained profit and
contributed surplus are distributable to shareholders, subject to the
condition that the Company cannot declare or pay a dividend, or make
a distribution out of retained profit and contributed surplus if (i) it is, or
would after the payment be, unable to pay its liabilities as they become
due; or (ii) the realisable value of its assets would thereby be less than the
aggregate of its liabilities and its issued share capital and share premium.
Distributable reserves of the Company as at 31st March 2025 amounted to
approximately HK$59,817,000 (2024: approximately HK$61,823,000).
Five Year Financial Summary
A summary of the results and of the assets and liabilities of the Group for
each of the last five financial years is set out on pages 175 and 176.
Auditors
The consolidated financial statements for the Year Under Review were
audited by HLB Hodgson Impey Cheng Limited whose term of office will
expire upon the forthcoming annual general meeting. A resolution for the
re-appointment of HLB Hodgson Impey Cheng Limited as the auditors of
the Company for the subsequent year is to be proposed at the forthcoming
annual general meeting.
On behalf of the board of directors
Hung Kim Fung, Measure
Chairman
Hong Kong, 25th June 2025
万保刚集团有限公司 – 二零二四/二零二五年年报
Independent Auditors’ Report
独立核数师报告
INDEPENDENT AUDITORS’ REPORT TO
THE MEMBERS OF
MOBICON GROUP LIMITED
(Incorporated in Bermuda with limited liability)
Opinion
We have audited the consolidated financial statements of Mobicon
Group Limited (the “Company”) and its subsidiaries (collectively referred
to as the “Group”) set out on pages 77 to 174, which comprise the
consolidated statement of financial position as at 31st March 2025, and
the consolidated statement of profit or loss, the consolidated statement of
comprehensive income, the consolidated statement of changes in equity
and the consolidated statement of cash flows for the year then ended,
and notes to the consolidated financial statements, including material
accounting policy information.
In our opinion, the consolidated financial statements give a true and fair
view of the consolidated financial position of the Group as at 31st March
2025, and of its consolidated financial performance and its consolidated
cash flows for the year then ended in accordance with Hong Kong Financial
Reporting Standards (“HKFRS Accounting Standards”) as issued by the
Hong Kong Institute of Certified Public Accountants (“HKICPA”) and have
been properly prepared in compliance with the disclosure requirements of
the Hong Kong Companies Ordinance.
Basis for Opinion
We conducted our audit in accordance with Hong Kong Standards on
Auditing (“HKSAs”) as issued by the HKICPA. Our responsibilities under
those standards are further described in the Auditors’ Responsibilities for
the Audit of the Consolidated Financial Statements section of our report.
We are independent of the Group in accordance with the HKICPA’s Code
of Ethics for Professional Accountants (the “Code”), and we have fulfilled
our other ethical responsibilities in accordance with the Code. We believe
that the audit evidence we have obtained is sufficient and appropriate to
provide a basis for our opinion.
致万保刚集团有限公司
（于百慕达注册成立之有限公司）
全体股东之
独立核数师报告
意见
本核数师（以下简称「我们」）已审计第77页至第
174页所载万保刚集团有限公司（「贵公司」）及其
附属公司（统称「贵集团」）的综合财务报表，此
综合财务报表包括于二零二五年三月三十一日的
综合财务状况表以及截至该日止年度的综合损益
表、综合全面收益表、综合权益变动表及综合现
金流量表，以及综合财务报表附注，包括重大会
计政策资料。
我们认为，综合财务报表已根据香港会计师公会
（「香港会计师公会」）颁布的《香港财务报告准则》
（「香港财务报告准则会计准则」）真实而中肯地反
映了 贵集团于二零二五年三月三十一日的综合
财务状况及截至该日止年度的综合财务表现及综
合现金流量，并已遵照香港《公司条例》之披露规
定妥为拟备。
意见的基础
我们已根据香港会计师公会颁布的《香港审计准
则》（「香港审计准则」）进行审计。我们在该等准
则下承担的责任已在本报告「核数师就审计综合
财务报表须承担的责任」部分中作进一步阐述。
根据香港会计师公会颁布的《专业会计师道德守
则》（「守则」），我们独立于 贵集团，并已履行
守则中的其他专业道德责任。我们相信，我们所
获得的审计凭证能充足及适当地为我们的审计意
见提供基础。
31/F, Gloucester Tower
The Landmark
11 Pedder Street
Central
Hong Kong
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中环
毕打街11号
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Mobicon Group Limited – Annual Report 2024/2025
Independent Auditors’ Report
独立核数师报告
关键审计事项
关键审计事项是根据我们的专业判断，认为对本
期综合财务报表的审计最为重要的事项。这些事
项是在我们审计整体综合财务报表及出具意见时
进行处理的。我们不会对这些事项提供单独的意
见。
Key Audit Matters
Key audit matters are those matters that, in our professional judgment,
were of most significance in our audit of the consolidated financial
statements of the current period. These matters were addressed in the
context of our audit of the consolidated financial statements as a whole,
and in forming our opinion thereon, and we do not provide a separate
opinion on these matters.
Revenue recognition
收益确认
Refer to Note 2.23 and Note 5 to the consolidated financial statements.
请参阅综合财务报表附注2.23及附注5。
Revenue is recognized when the Group satisfies a performance obligation
by transferring the control of promised goods to a customer in an amount
that reflects the consideration to which the Group expects to be entitled in
exchange for that goods.
当 贵集团完成履约责任向客户转移承诺货品，且所转移金额
能反映 贵集团预期就交换该等货品而可得的代价，则确认收
益。
We focused on this area due to the significant volume of revenue
transactions generated in different locations.
我们关注此方面是由于在不同地点录得大量收益交易。
Our procedures in relation to assess the recognition of revenue
included but not limited to:
吾等确认收益的相关程序包括但不限于：
- ’s controls
in respect of the Group’s sales transactions from contract
approval, recording of sales based on contract terms, and
agreed with customer’s records;
- ，包
括合约审批、基于合约条款的销售纪录，及与客户
纪录的一致；
• Testing of revenue recorded covering different locations and
customers, using sampling techniques, by examining the
relevant sale invoices and goods delivery notes. In addition,
we arranged confirmations to certain customers to confirm
sales transactions with the Group; and
- 、检查相关销售发票及货物交付单，
以考查所记录涵盖不同地点及客户的收益。此外，
我们向若干客户安排确认以确认彼等与 贵集团的
销售交易；及
• Testing the recognition of sales transactions close to the
end of the reporting period to assess whether those sales
transactions were recorded in appropriate accounting period
in accordance with the Group’s revenue recognition policy.
• 考查临近报告期末的销售交易的确认以评估该等销
售交易有否按 贵集团的收益确认政策计入适当的
会计期。
万保刚集团有限公司 – 二零二四/二零二五年年报
Independent Auditors’ Report
独立核数师报告
其他信息
贵公司董事需对其他信息负责。其他信息包括刊
载于年报内的信息，但不包括综合财务报表及我
们就此发出的核数师报告（「其他信息」）。
我们对综合财务报表的意见并不涵盖其他信息，
我们亦不会对该等其他信息发表任何形式的鉴证
结论。
就我们对综合财务报表的审计而言，我们的责任
是阅读其他信息，在此过程中，考虑其他信息是
否与综合财务报表或我们在审计过程中所了解的
情况存在重大抵触或者似乎存在重大错误陈述的
情况。基于我们已执行的工作，如果我们认为其
他信息存在重大错误陈述，我们需要报告有关事
实。在这方面，我们没有任何报告。
董事及治理层就综合财务报表须承
担的责任
贵公司董事须负责根据香港会计师公会颁布的香
港财务报告准则会计准则及香港《公司条例》的披
露规定，拟备真实而中肯的综合财务报表，及落
实其认为编制综合财务报表所必要的内部监控，
以确保综合财务报表不存在由于欺诈或错误而导
致的重大错误陈述。
在拟备综合财务报表时，董事须负责评估 贵集
团持续经营的能力，并在适用情况下披露与持
续经营有关的事项，以及使用持续经营为会计基
础，除非董事有意将 贵集团清盘或停止经营，
或别无其他实际的替代方案。
治理层须负责监督 贵集团的财务报告过程。
Other Information
The directors of the Company are responsible for the other information.
The other information comprises the information included in the
annual report, but does not include the consolidated financial
statements and our auditors’ report thereon (the “Other Information”).
Our opinion on the consolidated financial statements does not cover the
Other Information and we do not express any form of assurance conclusion
thereon.
In connection with our audit of the consolidated financial statements,
our responsibility is to read the Other Information and, in doing so,
consider whether the Other Information is materially inconsistent with the
consolidated financial statements or our knowledge obtained in the audit
or otherwise appears to be materially misstated. If, based on the work we
have performed, we conclude that there is a material misstatement of this
Other Information, we are required to report that fact. We have nothing to
report in this regard.
Responsibilities of Directors and Those Charged
with Governance for the Consolidated Financial
Statements
The directors of the Company are responsible for the preparation of
the consolidated financial statements that give a true and fair view in
accordance with HKFRS Accounting Standards as issued by the HKICPA
and the disclosure requirements of the Hong Kong Companies Ordinance,
and for such internal control as the directors determine is necessary to
enable the preparation of consolidated financial statements that are free
from material misstatement, whether due to fraud or error.
In preparing the consolidated financial statements, the directors are
responsible for assessing the Group’s ability to continue as a going
concern, disclosing, as applicable, matters related to going concern and
using the going concern basis of accounting unless the directors either
intend to liquidate the Group or to cease operations, or have no realistic
alternative but to do so.
Those charged with governance are responsible for overseeing the Group’s
financial reporting process.
Mobicon Group Limited – Annual Report 2024/2025
Independent Auditors’ Report
独立核数师报告
核数师就审计综合财务报表须承担
的责任
我们的目标，是对综合财务报表整体是否不存在
由于欺诈或错误而导致的重大错误陈述取得合
理保证，并出具包括我们意见的核数师报告。我
们是按照百慕达公司法第90条的规定，仅向阁下
（作为整体）报告，除此之外报告别无其他目的。
我们不会就本报告的内容向任何其他人士负上或
承担任何责任。合理保证是高水平的保证，但不
能保证按照《香港审计准则》进行的审计，在某一
重大错误陈述存在时总能发现。错误陈述可以由
欺诈或错误引起，如果合理预期它们单独或汇总
起来可能影响综合财务报表使用者依赖财务报表
所作出的经济决定，则有关的错误陈述可被视作
重大。
在根据香港审计准则进行审计的过程中，我们运
用了专业判断，保持了专业怀疑态度。我们亦：
• 识别和评估由于欺诈或错误而导致综合
财务报表存在重大错误陈述的风险，设
计及执行审计程序以应对这些风险，以
及获取充足和适当的审计凭证，作为我
们意见的基础。由于欺诈可能涉及串
谋、伪造、蓄意遗漏、虚假陈述或凌驾
于内部监控之上，因此未能发现因欺诈
而导致的重大错误陈述的风险高于未能
发现因错误而导致的重大错误陈述的风
险。
- ，以设计适
当的审计程序，但目的并非对 贵集团
内部监控的有效性发表意见。
• 评价董事所采用会计政策的恰当性及作
出会计估计和相关披露的合理性。
Auditors’ Responsibilities for the Audit of the
Consolidated Financial Statements
Our objectives are to obtain reasonable assurance about whether the
consolidated financial statements as a whole are free from material
misstatement, whether due to fraud or error, and to issue an auditors’
report that includes our opinion, solely to you, as a body, in accordance
with section 90 of the Bemuda Companies Act, and for no other purpose.
We do not assume responsibility towards or accept liability to any other
person for the contents of this report. Reasonable assurance is a high level
of assurance, but is not a guarantee that an audit conducted in accordance
with HKSAs will always detect a material misstatement when it exists.
Misstatements can arise from fraud or error and are considered material
if, individually or in the aggregate, they could reasonably be expected
to influence the economic decisions of users taken on the basis of these
consolidated financial statements.
As part of an audit in accordance with HKSAs, we exercise professional
judgment and maintain professional skepticism throughout the audit. We
also:
• Identify and assess the risks of material misstatement of the
consolidated financial statements, whether due to fraud or error,
design and perform audit procedures responsive to those risks,
and obtain audit evidence that is sufficient and appropriate to
provide a basis for our opinion. The risk of not detecting a material
misstatement resulting from fraud is higher than for one resulting
from error, as fraud may involve collusion, forgery, intentional
omissions, misrepresentations, or the override of internal control.
• Obtain an understanding of internal control relevant to the audit
in order to design audit procedures that are appropriate in the
circumstances, but not for the purpose of expressing an opinion on
the effectiveness of the Group’s internal control.
• Evaluate the appropriateness of accounting policies used and the
reasonableness of accounting estimates and related disclosures
made by the directors.
万保刚集团有限公司 – 二零二四/二零二五年年报
Independent Auditors’ Report
独立核数师报告
核数师就审计综合财务报表须承担
的责任（续）
• 对董事采用持续经营会计基础的恰当性
作出结论。根据所获取的审计凭证，确
定是否存在与事项或情况有关的重大不
确定性，从而可能导致对 贵集团的持
续经营能力产生重大疑虑。如果我们认
为存在重大不确定性，则有必要在核数
师报告中提请使用者注意综合财务报表
中的相关披露。假若有关的披露不足，
则我们应当修改意见。我们的结论是基
于核数师报告日止所取得的审计凭证。
然而，未来事项或情况可能导致 贵集
团不能持续经营。
- 、结
构和内容，包括披露，以及综合财务报
表是否中肯反映相关交易和事项。
- ，以就 贵
集团内实体或业务单位的财务信息获
取充足、适当的审计凭证，作为对 贵
集团财务报表形成意见的基础。我们负
责 贵集团审计的方向、监督及覆核已
执行的审计工作。我们为审计意见承担
全部责任。
我们与治理层沟通了（其中包括）计划的审计范
围、时间安排、重大审计发现等，包括我们在审
计中识别出内部监控的任何重大缺陷。
我们还向治理层提交声明，说明我们已符合有关
独立性的相关专业道德要求，并与他们沟通有可
能合理地被认为会影响我们独立性的所有关系和
其他事项，以及在适用的情况下，就消除威胁而
采取的行动或所应用的防范措施。
Auditors’ Responsibilities for the Audit of the
Consolidated Financial Statements (continued)
- ’ use of the going
concern basis of accounting and, based on the audit evidence
obtained, whether a material uncertainty exists related to events
or conditions that may cast significant doubt on the Group’s
ability to continue as a going concern. If we conclude that a
material uncertainty exists, we are required to draw attention in
our auditors’ report to the related disclosures in the consolidated
financial statements or, if such disclosures are inadequate,
to modify our opinion. Our conclusions are based on the audit
evidence obtained up to the date of our auditors’ report. However,
future events or conditions may cause the Group to cease to
continue as a going concern.
- , structure and content of the
consolidated financial statements, including the disclosures, and
whether the consolidated financial statements represent the
underlying transactions and events in a manner that achieves fair
presentation.
• Plan and perform the Group audit to obtain sufficient appropriate
audit evidence regarding the financial information of the entities or
business units within the Group as a basis for forming an opinion
on the Group financial statements. We are responsible for the
direction, supervision and review of the audit work performed for
purposes of the Group audit. We remain solely responsible for our
audit opinion.
We communicate with those charged with goverance regarding, among
other matters, the planned scope and timing of the audit and significant
audit findings, including any significant deficiencies in internal control that
we identify during our audit.
We also provide those charged with governance with a statement that we
have complied with relevant ethical requirements regarding independence,
and to communicate with them all relationships and other matters that may
reasonably be thought to bear on our independence, and where applicable,
actions taken to eliminate threats or safeguards applied.
Mobicon Group Limited – Annual Report 2024/2025
Independent Auditors’ Report
独立核数师报告
核数师就审计综合财务报表须承担
的责任（续）
从与治理层沟通的事项中，我们确定哪些事项对
本期综合财务报表的审计最为重要，因而构成
关键审计事项。我们在核数师报告中描述这些事
项，除非法律或法规不允许公开披露这些事项，
或在极端罕见的情况下，如果合理预期在我们报
告中沟通某事项造成的负面后果超过产生的公众
利益，我们决定不应在报告中沟通该事项。
出具本独立核数师报告的审计项目合伙人是卢健
基。
国卫会计师事务所有限公司
执业会计师
卢健基
执业证书号码：P06413
香港，二零二五年六月二十五日
Auditors’ Responsibilities for the Audit of the
Consolidated Financial Statements (continued)
From the matters communicated with those charged with governance, we
determine those matters that were of most significance in the audit of the
consolidated financial statements of the current period and are therefore
the key audit matters. We describe these matters in our auditors’ report
unless law or regulation precludes public disclosure about the matter or
when, in extremely rare circumstances, we determine that a matter should
not be communicated in our report because the adverse consequences of
doing so would reasonably be expected to outweigh the public interest
benefits of such communication.
The engagement director on the audit resulting in this independent
auditors’ report is Lo Kin Kei.
HLB Hodgson Impey Cheng Limited
Certified Public Accountants
Lo Kin Kei
Practising Certificate Number: P06413
Hong Kong, 25th June 2025
万保刚集团有限公司 – 二零二四/二零二五年年报
For the year ended 31st March 2025 截至二零二五年三月三十一日止年度
Consolidated Statement of Profit or Loss
综合损益表
Details of dividends are disclosed in Note 11 to the consolidated financial
statements.
股息详情于综合财务报表附注11披露。
| 2025 | 2024 | |||
|---|---|---|---|---|
| 二零二五年 | 二零二四年 | |||
| Notes | HK$’000 | HK$’000 | ||
| 附注 | 千港元 | 千港元 | ||
| Revenue | 收益 | 5 | 287,322 | 340,579 |
| Cost of sales | 销 售成本 | (212,106) | (251,088) | |
| Gross profit | 毛利 | 75,216 | 89,491 | |
| Other income and net gains | 其他收入及收益净额 | 6 | 2,774 | 2,743 |
| Distribution and selling expenses | 分销及销售费用 | (30,368) | (29,091) | |
| General and administrative expenses | 一 般及行政管理费用 | (53,744) | (52,879) | |
| Operating (loss)/profit | 经营（亏损）╱溢利 | (6,122) | 10,264 | |
| Finance costs | 融 资成本 | 8 | (2,753) | (3,870) |
| (Loss)/profit before income tax | 除所得税前（亏损）╱溢利 | (8,875) | 6,394 | |
| Income tax expense | 所 得税开支 | 9 | (1,605) | (4,643) |
| (Loss)/profit for the year | 年 内（亏损）╱溢利 | 7 | (10,480) | 1,751 |
| (Loss)/profit attributable to: | 应占（亏损）╱溢利： | |||
| Equity holders of the Company | 本公司权益持有人 | (11,764) | (4,891) | |
| Non-controlling interests | 非 控股权益 | 1,284 | 6,642 | |
| (10,480) | 1,751 | |||
| Loss per share attributable to the equity holders of the Company during the year | 年内本公司权益持有人 应占每股亏损 | |||
| – Basic and diluted (HK cents) | －基本及摊薄（港仙） | 10 | (5.88) | (2.45) |
Mobicon Group Limited – Annual Report 2024/2025
For the year ended 31st March 2025 截至二零二五年三月三十一日止年度
Consolidated Statement of Comprehensive Income
综合全面收益表
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| (Loss)/profit for the year | 年内（亏损）╱溢利 | (10,480) | 1,751 |
| Other comprehensive income/(expense) | 其他全面收入╱（开支） | ||
| Item that may be reclassified subsequently to profit or loss | 其后可重新分类至损益之项目 | ||
| Currency translation differences: | 货币换算差额： | ||
| – Subsidiaries | －附属公司 | 3,112 | (5,835) |
| Item that will not be reclassified subsequently to profit or loss | 其后将不会重新分类至损益之项目 | ||
| Revaluation gain on property, plant and equipment | 物业、厂房及设备之重估收益 | 59 | 58 |
| Other comprehensive income/(expense) for the year, net of tax | 年内其他全面收入╱（开支） （已扣除税项） | 3,171 | (5,777) |
| Total comprehensive expense | 全 面开支总额 | (7,309) | (4,026) |
| Total comprehensive (expense)/income attributable to: | 应占全面（开支）╱收入总额： | ||
| Equity holders of the Company | 本公司权益持有人 | (9,074) | (8,502) |
| Non-controlling interests | 非 控股权益 | 1,765 | 4,476 |
| (7,309) | (4,026) | ||
万保刚集团有限公司 – 二零二四/二零二五年年报
As at 31st March 2025 于二零二五年三月三十一日
Consolidated Statement of Financial Position
综合财务状况表
| 2025 | 2024 | |||
|---|---|---|---|---|
| 二零二五年 | 二零二四年 | |||
| Notes | HK$’000 | HK$’000 | ||
| 附注 | 千港元 | 千港元 | ||
| Non-current assets | 非流动资产 | |||
| Property, plant and equipment | 物业、厂房及设备 | 14 | 47,808 | 48,623 |
| Right-of-use assets | 使用权资产 | 14 | 2,986 | 4,952 |
| Intangible assets | 无形资产 | 16 | 187 | 100 |
| Investment properties | 投资物业 | 15 | 5,274 | 5,160 |
| Prepayments and deposits | 预 付款项及按金 | 106 | 953 | |
| 56,361 | 59,788 | |||
| Current assets | 流动资产 | |||
| Inventories | 存货 | 18 | 141,647 | 148,438 |
| Trade receivables | 应收贸易账款 | 19 | 24,641 | 27,295 |
| Prepayments, deposits and other receivables | 预付款项、按金及其他 应收款项 | 13,293 | 14,517 | |
| Current income tax recoverable | 可收回即期所得税 | 1,250 | 187 | |
| Cash and bank balances | 现 金及银行结余 | 20 | 25,935 | 23,658 |
| 206,766 | 214,095 | |||
| Total assets | 资 产总值 | 263,127 | 273,883 | |
| Current liabilities | 流动负债 | |||
| Trade payables | 应付贸易账款 | 21 | 15,621 | 15,203 |
| Other payables and accruals | 其他应付款项及应计费用 | 16,437 | 16,078 | |
| Contract liabilities | 合约负债 | 1,099 | 1,106 | |
| Loan from a shareholder | 股东贷款 | 22 | 39,820 | 39,000 |
| Lease liabilities | 租赁负债 | 14 | 1,771 | 3,767 |
| Bank borrowings | 银行借贷 | 23 | 25,841 | 23,145 |
| Current income tax liabilities | 即 期所得税负债 | 39 | 1,153 | |
| 100,628 | 99,452 | |||
| Net current assets | 流 动资产净值 | 106,138 | 114,643 | |
| Total assets less current liabilities | 资 产总值减流动负债 | 162,499 | 174,431 | |
Mobicon Group Limited – Annual Report 2024/2025
As at 31st March 2025 于二零二五年三月三十一日
Consolidated Statement of Financial Position
综合财务状况表
The consolidated financial statements were approved and authorized for
issue by the Board of Directors on 25th June 2025 and signed on its behalf
by:
HUNG KIM FUNG, MEASUREYEUNG MAN YI, BERYL
洪剑峰杨敏仪
ChairmanDeputy Chairman and Chief Executive Officer
主席副主席兼行政总裁
综合财务报表已于二零二五年六月二十五日获董
事会批准及授权刊发，并由下列董事代表董事会
签署：
| 2025 | 2024 | |||
|---|---|---|---|---|
| 二零二五年 | 二零二四年 | |||
| Notes | HK$’000 | HK$’000 | ||
| 附注 | 千港元 | 千港元 | ||
| Non-current liabilities | 非流动负债 | |||
| Other payables | 其他应付款项 | 28(c) | 975 | 2,598 |
| Bank borrowings | 银行借贷 | 23 | – | 2,643 |
| Deferred tax liabilities | 递延税项负债 | 24 | 967 | 1,208 |
| Lease liabilities | 租 赁负债 | 14 | 1,417 | 1,334 |
| 3,359 | 7,783 | |||
| Net assets | 资 产净值 | 159,140 | 166,648 | |
| Capital and reserves attributable to the equity holders of the Company | 本公司权益持有人应占 股本及储备 | |||
| Share capital | 股本 | 25 | 20,000 | 20,000 |
| Reserves | 储 备 | 92,665 | 93,025 | |
| 112,665 | 113,025 | |||
| Non-controlling interests | 非 控股权益 | 46,475 | 53,623 | |
| Total equity | 权 益总额 | 159,140 | 166,648 | |
万保刚集团有限公司 – 二零二四/二零二五年年报
For the year ended 31st March 2025 截至二零二五年三月三十一日止年度
Consolidated Statement of Changes in Equity
综合权益变动表
| Attributable to equity holders of the Company | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 本公司权益持有人应占 | ||||||||||
| Reserves | ||||||||||
| 储备 | ||||||||||
| Share capital | Share premium | Capital reserve | Translation reserve | Revaluation reserve | Retained profits | Total reserves | Non- controlling interests | Total equity | ||
| 股本 | 股份溢价 | 股本储备 | 换算储备 | 重估储备 | 留存溢利 | 储备合计 | 非控股权益 | 权益总额 | ||
| HK$’000 | HK$’000 | HK$’000 | 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 | 千港元 | 千港元 | 千港元 | ||
| (Note 25) | (Note(i)) | (Note(ii)) | (Note(iii)) | |||||||
| （附注25 ） | （附注(i )） | （附注(ii )） | （附注(iii )） | |||||||
| Balance at 1st April 2023 | 于二零二三年四月一日之结余 | 20,000 | 16,706 | 800 | (25,504) | 5,590 | 105,935 | 103,527 | 49,147 | 172,674 |
| Total comprehensive (expense)/ income for the year | 年内全面（开支）╱收入总额 | – | – | – | (3,669) | 58 | (4,891) | (8,502) | 4,476 | (4,026) |
| Dividends of the Company: | 本公司股息： | |||||||||
| 2023 final dividend | 二零二三年末期股息 | – | – | – | – | – | (1,000) | (1,000) | – | (1,000) |
| 2024 interim dividend | 二 零二四年中期股息 | – | – | – | – | – | (1,000) | (1,000) | – | (1,000) |
| Balance at 31st March 2024 | 于二零二四年三月三十一日之 结余 | 20,000 | 16,706 | 800 | (29,173) | 5,648 | 99,044 | 93,025 | 53,623 | 166,648 |
| Representing: | 相当于： | |||||||||
| 2024 final dividend | 二零二四年末期股息 | 1,000 | ||||||||
| Others | 其 他 | 98,044 | ||||||||
| 99,044 | ||||||||||
Mobicon Group Limited – Annual Report 2024/2025
For the year ended 31st March 2025 截至二零二五年三月三十一日止年度
Consolidated Statement of Changes in Equity
综合权益变动表
Note (i): Capital reserve represents the difference between the nominal value of the ordinary
shares issued by the Company and the aggregate of the share capital and share
premium of subsidiaries acquired through exchanges of shares pursuant to the
reorganization which took place on 18th April 2001.
During the year ended 31st March 2025, a deemed contribution from a shareholder
amounting to approximately HK$3,000,000, arising from the extinguishment of a
substantial shareholder loan, was recognized as a capital contribution and credited
directly to reserves in the consolidated statement of changes in equity.
Note (ii): The translation reserve is used to record exchange differences arising from the
translation of the financial statements of foreign operations whose functional
currencies are different from that of the Group’s presentation currency.
Note (iii): The revaluation reserve comprises accumulated gains and losses arising on
the revaluation of leasehold properties that have been recognized in other
comprehensive income.
附注(i)： 股本储备为本公司已发行普通股之面值，与根据
二零零一年四月十八日进行之重组交换股份所得
之附属公司股本加上股份溢价之总和两者之间的
差额。
截至二零二五年三月三十一日止年度，豁免主要
股东贷款产生的视作股东出资约3,000,000港元已确
认为注资，并直接列入综合权益变动表的储备内。
附注(ii)： 换算储备用于记录功能货币与本集团的呈列货币
不同的海外业务的财务报表于换算时产生的汇兑
差额。
附注(iii)： 重估储备包括已于其他全面收入中确认重估租赁
物业产生的累计收益及亏损。
| Attributable to equity holders of the Company | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 本公司权益持有人应占 | ||||||||||
| Reserves | ||||||||||
| 储备 | ||||||||||
| Share capital | Share premium | Capital reserve | Translation reserve | Revaluation reserve | Retained profits | Total reserves | Non- controlling interests | Total equity | ||
| 股本 | 股份溢价 | 股本储备 | 换算储备 | 重估储备 | 留存溢利 | 储备合计 | 非控股权益 | 权益总额 | ||
| HK$’000 | HK$’000 | HK$’000 | 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 | 千港元 | 千港元 | 千港元 | ||
| (Note 25) | (Note(i)) | (Note(ii)) | (Note(iii)) | |||||||
| （附注25 ） | （附注(i) ） | （附注(ii) ） | （附注(iii) ） | |||||||
| Balance at 1st April 2024 | 于二零二四年四月一日之结余 | 20,000 | 16,706 | 800 | (29,173) | 5,648 | 99,044 | 93,025 | 53,623 | 166,648 |
| Total comprehensive income/ (expense) for the year | 年内全面收入╱（开支）总额 | – | – | – | 2,631 | 59 | (11,764) | (9,074) | 1,765 | (7,309) |
| Acquisition of non-controlling interest of a subsidiary | 收购一间附属公司的 非控股权益 | – | – | – | – | – | 7,714 | 7,714 | (8,913) | (1,199) |
| Deemed contribution from a shareholder from extinguished loans | 豁免贷款产生的 视作股东出资 | – | – | 3,000 | – | – | – | 3,000 | – | 3,000 |
| Dividends of the Company: | 本公司股息： | |||||||||
| 2024 final dividend | 二零二四年末期股息 | – | – | – | – | – | (1,000) | (1,000) | – | (1,000) |
| 2025 interim dividend | 二 零二五年中期股息 | – | – | – | – | – | (1,000) | (1,000) | – | (1,000) |
| Balance at 31st March 2025 | 于二零二五年三月三十一日之 结余 | 20,000 | 16,706 | 3,800 | (26,542) | 5,707 | 92,994 | 92,665 | 46,475 | 159,140 |
| Representing: | 相当于： | |||||||||
| 2025 final dividend | 二零二五年末期股息 | 500 | ||||||||
| Others | 其 他 | 92,494 | ||||||||
| 92,994 | ||||||||||
万保刚集团有限公司 – 二零二四/二零二五年年报
As at 31st March 2025 于二零二五年三月三十一日
Consolidated Statement of Cash Flows
综合现金流量表
| 2025 | 2024 | |||
|---|---|---|---|---|
| 二零二五年 | 二零二四年 | |||
| Notes | HK$’000 | HK$’000 | ||
| 附注 | 千港元 | 千港元 | ||
| Cash flows from operating activities | 经营业务产生之现金流量 | |||
| Net cash generated from operations | 经营业务产生之现金净额 | 26 | 12,833 | 26,027 |
| Overseas income tax paid | 已付海外所得税 | (3,849) | – | |
| Hong Kong Profits Tax paid | 已付香港利得税 | (236) | (312) | |
| Net cash from operating activities | 经营业务产生之现金净额 | 8,748 | 21,954 | |
| Cash flows from investing activities | 投资活动产生之现金流量 | |||
| Interest received | 已收利息 | 443 | 718 | |
| Acquisition of non-controlling interests of a subsidiary | 收购一间附属公司的 非控股权益 | (1,199) | – | |
| Purchases of property, plant and equipment | 购买物业、厂房及设备 | (949) | (1,490) | |
| Proceeds on disposal of property, plant and equipment | 出售物业、厂房及 设备所得款项 | 226 | 173 | |
| Purchases of intangible assets | 购 买无形资产 | (178) | (33) | |
| Net cash used in investing activities | 投资活动动用之现金净额 | (1,657) | (632) | |
| Cash flows from financing activities | 融资活动产生之现金流量 | |||
| Interest paid | 已付利息 | (2,753) | (3,870) | |
| Dividends paid to the Company’s shareholders | 已派予本公司股东之股息 | (2,000) | (2,000) | |
| Loan from a shareholder | 股东贷款 | 4,000 | 11,100 | |
| Repayments of loan from a shareholder | 偿还股东贷款 | (180) | (3,100) | |
| Repayments of lease liabilities | 偿还租赁负债 | (4,121) | (6,003) | |
| Repayments of bank borrowings | 偿还银行借贷 | (46,561) | (69,640) | |
| Proceeds from bank borrowings | 银行借贷所得款项 | 45,265 | 46,195 | |
| Drawdown of bank overdrafts | 提 取银行透支 | 1,247 | – | |
| Net cash used in financing activities | 融资活动动用之现金净额 | (5,103) | (27,318) | |
Mobicon Group Limited – Annual Report 2024/2025
As at 31st March 2025 于二零二五年三月三十一日
Consolidated Statement of Cash Flows
综合现金流量表
| 2025 | 2024 | |||
|---|---|---|---|---|
| 二零二五年 | 二零二四年 | |||
| Note | HK$’000 | HK$’000 | ||
| 附注 | 千港元 | 千港元 | ||
| Net increase/(decrease) in cash and cash equivalents | 现金及现金等值物增加╱ （减少）净额 | 1,988 | (5,996) | |
| Cash and cash equivalents at beginning of the year | 年初之现金及现金等值物 | 23,658 | 30,434 | |
| Effect of foreign exchange rate changes | 汇 率变动之影响 | 289 | (780) | |
| Cash and cash equivalents at end of the year | 年终之现金及现金等值物 | 20 | 25,935 | 23,658 |
| Analysis of balances of cash and cash equivalents: | 现金及现金等值物结余分析： | |||
| Cash and bank balances | 现金及银行结余 | 25,935 | 23,658 | |
| Bank overdrafts | 银 行透支 | (1,247) | – | |
| 24,688 | 23,658 | |||
万保刚集团有限公司 – 二零二四/二零二五年年报
For the year ended 31st March 2025 截至二零二五年三月三十一日止年度
Notes to the Consolidated Financial Statements
综合财务报表附注
1 General Information
Mobicon Group Limited (the “Company”) and its subsidiaries
(collectively, the “Group”) are principally engaged in the trading
and distribution of electronic components, electrical components
and equipment and computer products and mobile accessories and
trading of cosmetic products.
The Company is a limited liability company incorporated in
Bermuda as an exempted company under the Companies Act of
Bermuda. The addresses of its registered office and principal place
of business are set out in the Company’s annual report.
The Company’s shares have been listed on The Stock Exchange of
Hong Kong Limited (the “Stock Exchange”) since 7th May 2001.
These consolidated financial statements are presented in
thousands of units of Hong Kong dollars (HK$’000), unless
otherwise stated.
2 Basis of Preparation and Material
Accounting Policies
The principal accounting policies applied in the preparation of
these consolidated financial statements are set out below. These
policies have been consistently applied to all the years presented,
unless otherwise stated.
2.1 Basis of preparation
The consolidated financial statements of the Group have been
prepared in accordance with all applicable Hong Kong Financial
Reporting Standards (“HKFRS Accounting Standards”) as issued by
the Hong Kong Institute of Certified Public Accountants (“HKICPA”).
In addition, the consolidated financial statements include applicable
disclosures required by the Rules Governing the Listing of Securities
on The Stock Exchange of Hong Kong Limited and by the Hong Kong
Companies Ordinance. The consolidated financial statements have
been prepared under the historical cost convention, as modified by
the revaluation of property, plant and equipment and investment
properties, which are carried at fair value.
The preparation of consolidated financial statements in conformity
with HKFRS Accounting Standards requires the use of certain
critical accounting estimates. It also requires management to
exercise its judgment in the process of applying the Group’s
accounting policies. The areas involving a higher degree of
judgment or complexity, or areas where assumptions and
estimates are significant to the consolidated financial statements
are disclosed in Note 4.
1 一般资料
万保刚集团有限公司（「本公司」）及其附
属公司（统称「本集团」）主要从事买卖及
分销电子元件、电气元件及仪器与电脑
产品及手机配件，以及买卖化妆品之业
务。
本公司根据百慕达公司法在百慕达注册
成立为获豁免有限公司。其注册办事处
及主要营业地点之地址载于本公司年报。
本公司股份自二零零一年五月七日起在
香港联合交易所有限公司（「联交所」）上
市。
除另有注明外，此等综合财务报表以千
港元（千港元）列值。
2 编制基准及重大会计政策
编制此等综合财务报表所采用之主要会
计政策载列如下。除另有注明外，此等
政策于所有呈报年度贯彻应用。
2.1 编制基准
本集团之综合财务报表乃根据香港会计
师公会（「香港会计师公会」）颁布之所有
适用香港财务报告准则（「香港财务报告
准则会计准则」）而编制。此外，综合财
务报表亦遵循香港联合交易所有限公司
证券上市规则内及香港公司条例内之适
用披露规定。综合财务报表乃根据历史
成本常规编制，并已就按公平值列账之
物业、厂房及设备以及投资物业之重估
作出修订。
编制符合香港财务报告准则会计准则规
定之综合财务报表时，须使用若干重大
会计估计。管理层亦须在应用本集团会
计政策之过程中作出其判断。涉及较高
度判断或较复杂之范畴，或假设及估计
对综合财务报表有重大影响之范畴于附
注4披露。
Mobicon Group Limited – Annual Report 2024/2025
For the year ended 31st March 2025 截至二零二五年三月三十一日止年度
Notes to the Consolidated Financial Statements
综合财务报表附注
2 Basis of Preparation and Material
Accounting Policies(continued)
2.1 Basis of preparation (continued)
Amendments to HKFRS Accounting Standards that are
mandatorily effective for the current year
In the current year, the Group has applied the following
amendments to HKFRS Accounting Standards as issued by the
HKICPA for the first time, which are mandatorily effective for
the Group’s annual period beginning on 1st April 2024 for the
preparation of the consolidated financial statements:
Amendments to HKFRS 16Lease Liability in a Sale and Leaseback
Amendments to HKAS 1Classification of Liabilities as
Current or Non-current and
related amendments to Hong Kong
Interpretation 5 (2020)
Amendments to HKAS 1Non-current Liabilities with Covenants
Amendments to HKAS 7
and HKFRS 7
Supplier Finance Arrangements
The application of the amendments to HKFRS Accounting
Standards in the current year has had no material impact on the
Group’s financial positions and performance for the current and
prior years and/or on the disclosures set out in these consolidated
financial statements.
2 编制基准及重大会计政策（续）
2.1 编制基准（续）
本年度强制生效的经修订香港财务报告
准则会计准则
于本年度，本集团已首次应用香港会计
师公会颁布下列经修订香港财务报告准
则会计准则以编制综合财务报表，该等
准则于本集团截至二零二四年四月一日
开始的年度期间强制生效：
香港财务报告准则
第16号之修订本
于售后租回之
租赁负债
香港会计准则
第1号之修订本
将负债分类为
流动或非流动及
香港诠释第5号
的相关修订
（二零二零年）
香港会计准则
第1号之修订本
附契诺之
非流动负债
香港会计准则第7号
及香港财务报告
准则第7号之修订本
供应商融资安排
于本年度应用经修订香港财务报告准则
会计准则并无对本集团本年度及过往年
度财务状况及表现及╱或该等综合财务
报表所载的披露构成重大影响。
万保刚集团有限公司 – 二零二四/二零二五年年报
For the year ended 31st March 2025 截至二零二五年三月三十一日止年度
Notes to the Consolidated Financial Statements
综合财务报表附注
2 Basis of Preparation and Material
Accounting Policies(continued)
2.1 Basis of preparation (continued)
New and amendments to HKFRS Accounting Standards in
issue but not yet effective
The Group has not early applied the following new and
amendments to HKFRS Accounting Standards that have been
issued but are not yet effective:
Amendments to HKFRS 9
and HKFRS 7
Amendments to the Classification and
Measurement of Financial Instruments
Amendments to HKFRS 10
and HKAS 28
Sale or Contribution of Assets between an Investor
and its Associate or Joint Venture
Amendments to HKFRS
Accounting Standards
Annual Improvements to HKFRS Accounting
Standards – Volume 11
Amendments to HKAS 21Lack of Exchangeability
HKFRS 18Presentation and Disclosure in Financial
Statements
Effective for annual periods beginning on or after a date to be determined.
Effective for annual periods beginning on or after 1st January 2025.
Effective for annual periods beginning on or after 1st January 2026.
Effective for annual periods beginning on or after 1st January 2027.
The Group is in the process of assessing the potential impact
of the above new HKFRS Accounting Standards upon initial
application but is not yet in a position to state whether the above
new and amendments to HKFRS Accounting Standards will have
a significant impact on the Group’s and the Company’s results of
operations and financial position.
2 编制基准及重大会计政策（续）
2.1 编制基准（续）
已颁布但尚未生效的新订及经修订香港
财务报告准则会计准则
本集团并无提早应用以下已颁布但尚未
生效的新订及经修订香港财务报告准则
会计准则：
香港财务报告准则
第9号及香港财务报告
准则第7号之修订本
对金融工具分类及计量
之修订
香港财务报告准则
第10号及香港会计
准则第28号之修订本
投资者与其联营公司或
合营企业之间的
资产出售或注资
香港财务报告准则会计
准则之修订本
香港财务报告准则会计
准则年度改进－
第11册
香港会计准则第21号之
修订本
缺乏可交换性
香港财务报告准则
第18号
财务报表的呈列及
披露
于待定日期或以后开始之年度期间生效。
于二零二五年一月一日或以后开始之年
度期间生效。
于二零二六年一月一日或以后开始之年
度期间生效。
于二零二七年一月一日或以后开始之年
度期间生效。
本集团现正评估上述新订香港财务报告
准则会计准则于首次应用时可能构成之
影响，惟目前未能指出上述新订香港财
务报告准则会计准则及其修订本会否对
本集团及本公司之经营业绩及财务状况
构成任何重大影响。
Mobicon Group Limited – Annual Report 2024/2025
For the year ended 31st March 2025 截至二零二五年三月三十一日止年度
Notes to the Consolidated Financial Statements
综合财务报表附注
2 Basis of Preparation and Material
Accounting Policies(continued)
2.2 Subsidiaries
2.2.1 Consolidation
Subsidiaries are all entities (including structured entities) over
which the Group has control. The Group controls an entity where
the Group is exposed to, or has rights to, variable returns from
its involvement with the entity and has the ability to affect those
returns through its power to direct the activities of the entity.
Subsidiaries are fully consolidated from the date on which control
is transferred to the Group. They are deconsolidated from the date
that control ceases.
Inter-company transactions, balances and unrealized gains on
transactions between group companies are eliminated. Unrealized
losses are also eliminated unless the transaction provides
evidence of an impairment of the transferred asset. Accounting
policies of subsidiaries have been changed where necessary to
ensure consistency with the policies adopted by the Group.
Non-controlling interests in the results and equity of subsidiaries
are shown separately in the consolidated statement of profit or
loss, statement of comprehensive income, statement of changes in
equity and statement of financial position respectively.
(a) Business combinations
The acquisition method of accounting is used to account for all
business combinations, regardless of whether equity instruments
or other assets are acquired. The consideration transferred for
the acquisition of a subsidiary is the fair values of the assets
transferred, the liabilities incurred to the former owners of the
business, the equity interests issued by the Group, the fair value
of any asset or liability resulting from a contingent consideration
arrangement and the fair value of any pre-existing equity interest
in the subsidiary.
Identifiable assets acquired and liabilities and contingent
liabilities assumed in a business combination are, with limited
exceptions, measured initially at their fair values at the acquisition
date. The Group recognizes any non-controlling interest in the
acquired entity on an acquisition date. The Group recognizes any
non-controlling interest in the acquired entity on an acquisition-
by-acquisition basis either at fair value or at the non-controlling
interest’s proportionate share of the acquired entity’s net
identifiable assets.
2 编制基准及重大会计政策（续）
2.2 附属公司
2.2.1 综合账目
附属公司为本集团拥有其控制权之所有
实体（包括结构性实体）。当本集团对实
体业务之浮动回报承担风险或享有权利
以及能透过支配实体活动而影响该等回
报时，即属可控制该实体。附属公司之
账目自控制权转让予本集团之日起全面
综合计入账目，而有关账目将于该控制
权终止之日终止综合计入账目。
集团内公司间之交易、结余以及集团内
公司间之交易所产生之未变现收益均予
以对销。未变现亏损亦予以对销，惟如
有关交易提供已转让资产之减值凭证则
除外。附属公司之会计政策已按需要作
出改变，以确保与本集团所采用之会计
政策一致。
非控股权益所占附属公司业绩及权益会
分别在综合损益表、全面收益表、权益
变动表及财务状况表中独立呈列。
(a) 业务合并
所有业务合并均以收购会计法入账，而
不论收购股权工具或其他资产。收购一
间附属公司所转让的代价为所转让资产
的公平值、该业务前拥有人所产生的负
债、本集团发行之股权、或然代价安排
所导致的任何资产或负债之公平值及附
属公司任何先前存在的股权的公平值。
在业务合并过程所收购的可识别资产以
及所承担的负债及或然负债于收购日期
按其公平值初步计量。本集团于收购日
期确认于被收购实体的任何非控股权
益。本集团按逐项收购基准，按公平值
或按非控股权益所占被收购实体可识别
资产净值的比例确认于被收购实体的任
何非控股权益。
万保刚集团有限公司 – 二零二四/二零二五年年报
For the year ended 31st March 2025 截至二零二五年三月三十一日止年度
Notes to the Consolidated Financial Statements
综合财务报表附注
2 Basis of Preparation and Material
Accounting Policies(continued)
2.2 Subsidiaries (continued)
2.2.1 Consolidation (continued)
(a) Business combinations (continued)
Acquisition-related costs are expensed as incurred.
The excess of the consideration transferred, the amount of any
non-controlling interest in the acquired entity and the acquisition-
date fair value of any previous equity interest in the acquired
entity over the fair value of the identifiable net assets acquired
is recorded as goodwill. If those amounts are less than the fair
value of the net identifiable assets of the business acquired, the
difference is recognized directly in profit or loss as a bargain
purchase.
Where settlement of any part of cash consideration is deferred,
the amounts payable in the future are discounted to their present
value as at the date of exchange. The discount rate used is the
entity’s incremental borrowing rate, being the rate at which a
similar borrowing could be obtained from an independent financier
under comparable terms and conditions. Contingent consideration
is classified either as equity or a financial liability. Amounts
classified as a financial liability are subsequently remeasured to
fair value with changes in fair value recognized in profit or loss.
If the business combination is achieved in stages, the acquisition
date carrying value of the acquirer’s previously held equity interest
in the acquiree is remeasured to fair value at the acquisition
date. Any gains or losses arising from such remeasurement are
recognized in profit or loss.
(b) Changes in ownership interests
The Group treats transactions with non-controlling interests
that do not result in a loss of control as transactions with equity
owners of the Group. A change in ownership interest results in an
adjustment between the carrying amounts of the controlling and
non-controlling interests to reflect their relative interests in the
subsidiary. Any difference between the amount of the adjustment
to non-controlling interests and any consideration paid or received
is recognized in a separate reserve within equity attributable to
owners of the Company.
2 编制基准及重大会计政策（续）
2.2 附属公司（续）
2.2.1 综合账目（续）
(a) 业务合并（续）
收购相关成本乃于产生时支销。
所转让代价、于被收购实体的任何非控
股权益金额及任何先前于被收购实体的
股权于收购日期的公平值超出所收购可
识别资产净值公平值的部分乃入账列作
商誉。倘该等金额低于所收购业务之可
识别资产净值之公平值，则该差额将直
接于损益确认为议价购买。
倘任何部分现金代价的结算获递延，日
后应付金额贴现至彼等于兑换日期的现
值。所用的贴现率乃该实体的新增借款
利率，即根据相若的条款及条件可从独
立融资人获得同类借款的利率。或然代
价分类为权益或金融负债。分类为金融
负债的金额随后按公平值重新计量，其
公平值变动于损益内确认。
倘业务合并分阶段进行，则收购方先前
在被收购方持有的股权于收购当日的账
面值乃于收购当日重新计量为公平值。
因该重新计量产生的任何收益或亏损乃
于损益中确认。
(b) 拥有权权益变动
本集团将不会导致失去控制权之非控股
权益交易视作与本集团权益拥有人进行
之交易。拥有权权益变动会导致控股与
非控股权益之间的账面值作出调整，以
反映彼等于附属公司之相关权益。非控
股权益调整数额与任何已付或已收代价
之间的任何差额于本公司拥有人应占权
益中的独立储备内确认。
Mobicon Group Limited – Annual Report 2024/2025
For the year ended 31st March 2025 截至二零二五年三月三十一日止年度
Notes to the Consolidated Financial Statements
综合财务报表附注
2 Basis of Preparation and Material
Accounting Policies(continued)
2.2 Subsidiaries (continued)
2.2.1 Consolidation (continued)
(b) Changes in ownership interests (continued)
When the Group ceases to consolidate or equity account for an
investment because of a loss of control, joint control or significant
influence, any retained interest in the entity is remeasured to its
fair value with the change in carrying amount recognized in profit
or loss. This fair value becomes the initial carrying amount for
the purposes of subsequently accounting for the retained interest
as an associate, joint venture or financial asset. In addition, any
amounts previously recognized in other comprehensive income in
respect of that entity are accounted for as if the Group had directly
disposed of the related assets or liabilities. This may mean that
amounts previously recognized in other comprehensive income
are reclassified to profit or loss or transferred to another category
of equity as specified/permitted by applicable HKFRS Accounting
Standards.
If the ownership interest in a joint venture or an associate is
reduced but joint control or significant influence is retained, only a
proportionate share of the amounts previously recognized in other
comprehensive income are reclassified to profit or loss where
appropriate.
2 编制基准及重大会计政策（续）
2.2 附属公司（续）
2.2.1 综合账目（续）
(b) 拥有权权益变动（续）
当本集团因失去控制权、共同控制权或
重大影响力而停止综合入账或按权益会
计法入账一项投资时，其于该实体之任
何保留权益按公平值重新计算，而账面
值变动则于损益表中确认。其后当此保
留权益入账列作联营公司、合营企业或
金融资产时，此公平值将成为初始账面
值。此外，过往于其他全面收入内确认
与该实体有关之任何金额按犹如本集团
直接出售有关资产或负债之方式入账。
这意味著先前在其他全面收入内确认之
金额重新分类至损益表或转拨至适用香
港财务报告准则会计准则所指明╱许可
之另一权益类别内。
倘于合营企业或联营公司之拥有权权益
减少，惟仍然保留共同控制权或重大影
响力，则仅将以往在其他全面收入中确
认之金额按应占比例重新分类至损益表
（如适用）。
万保刚集团有限公司 – 二零二四/二零二五年年报
For the year ended 31st March 2025 截至二零二五年三月三十一日止年度
Notes to the Consolidated Financial Statements
综合财务报表附注
2 Basis of Preparation and Material
Accounting Policies(continued)
2.2 Subsidiaries (continued)
2.2.2 Separate financial statements
Investments in subsidiaries are accounted for at cost less
impairment. Cost includes direct attributable costs of investment.
The results of subsidiaries are accounted for by the Company on
the basis of dividend received and receivable.
Impairment testing of the investments in subsidiaries is required
upon receiving a dividend from these investments if the dividend
exceeds the total comprehensive income of the subsidiary in the
period the dividend is declared or if the carrying amount of the
investment in the separate financial statements exceeds the
carrying amount in the consolidated financial statements of the
investee’s net assets including goodwill.
2.3 Segment reporting
Operating segments are reported in a manner consistent with
the internal reporting provided to the chief operating decision-
maker. The chief operating decision-maker, who is responsible for
allocating resources and assessing performance of the operating
segments, has been identified as the steering committee that
makes strategic decisions.
2.4 Foreign currency translation
(a) Functional and presentation currency
Items included in the financial statements of each of the Group’s
entities are measured using the currency of the primary economic
environment in which the entity operates (“the functional
currency”). The consolidated financial statements are presented
in HK dollars (HK$), which is the Company’s functional and the
Group’s presentation currency.
2 编制基准及重大会计政策（续）
2.2 附属公司（续）
2.2.2 独立财务报表
于附属公司之投资乃按成本扣除减值列
账。成本包括投资之直接应占成本。本
公司按已收及应收股息基准入账附属公
司之业绩。
倘于附属公司投资产生的股息超过附属
公司于宣派股息期间的全面收入总额，
或倘该投资于独立财务报表内之账面值
超出被投资公司之资产净值（包括商誉）
于综合财务报表内之账面值，则于收到
该等投资之股息后须对该等投资进行减
值测试。
2.3 分部报告
经营分部按照公司内部向主要经营决策
者提供报告之一贯方式予以呈报。主要
经营决策者负责分配资源及评估经营分
部表现，并已确定为作出策略决定之督
导委员会。
2.4 外币换算
(a) 功能及呈报货币
本集团旗下各实体之财务报表所列项目
均采用有关实体营业所在的主要经济环
境通用的货币（「功能货币」）为计算单
位。综合财务报表以港元呈报，而港元
为本公司之功能货币及本集团之呈报货
币。
Mobicon Group Limited – Annual Report 2024/2025
For the year ended 31st March 2025 截至二零二五年三月三十一日止年度
Notes to the Consolidated Financial Statements
综合财务报表附注
2 Basis of Preparation and Material
Accounting Policies(continued)
2.4 Foreign currency translation (continued)
(b) Transactions and balances
Foreign currency transactions are translated into the functional
currency using the exchange rates at the dates of the transactions.
Foreign exchange gains and losses resulting from the settlement
of such transactions and from the translation of monetary assets
and liabilities denominated in foreign currencies at year end
exchange rates are generally recognized in profit or loss. They are
deferred in equity if they relate to qualifying cash flow hedges and
qualifying net investment hedges or are attributable to part of the
net investment in a foreign operation.
Foreign exchange gains and losses that relate to borrowings are
presented in the consolidated statement of profit or loss, within
“finance costs”. All other foreign exchange gains and losses are
presented in the consolidated statement of profit or loss on a net
basis within “general and administrative expenses”.
Non-monetary items that are measured at fair value in a foreign
currency are translated using the exchange rates at the date when
the fair value was determined. Translation differences on assets
and liabilities carried at fair value are reported as part of the fair
value gain or loss. For example, translation differences on non-
monetary assets and liabilities such as equities held at fair value
through profit or loss are recognized in profit or loss as part of the
fair value gain or loss and translation differences on non- monetary
assets such as equities classified as fair value through other
comprehensive income are recognized in other comprehensive
income.
2 编制基准及重大会计政策（续）
2.4 外币换算（续）
(b) 交易及结余
外币交易按交易当日之汇率换算为功能
货币。因该等交易结算及按结算日之汇
率换算以外币计值之货币资产及负债而
产生之汇兑损益，通常于损益表确认。
倘彼等有关合资格作现金流量对冲及合
资格作投资净额对冲或于海外经营中投
资净额部分应占损益，则于权益中递延。
与借贷有关之汇兑收益及亏损乃于综合
损益表之「融资成本」内呈列。所有其他
汇兑收益及亏损于综合损益表之「一般及
行政管理费用」内呈列。
以公平值计算之外汇非货币项目乃按公
平值厘定日期之汇率换算。按公平值列
账之资产及负债之汇兑差额呈报为公平
值收益或亏损之一部分。例如：非货币
资产及负债（例如：按公平值计入损益之
权益）之换算差额于损益表中确认为公平
值收益或亏损之一部分，非货币资产（例
如：分类为按公平值计入其他全面收入
之股票）之换算差额则于其他全面收入确
认。
万保刚集团有限公司 – 二零二四/二零二五年年报
For the year ended 31st March 2025 截至二零二五年三月三十一日止年度
Notes to the Consolidated Financial Statements
综合财务报表附注
2 Basis of Preparation and Material
Accounting Policies(continued)
2.4 Foreign currency translation (continued)
(c) Group companies
The results and financial position of all the group entities (none of
which has the currency of a hyper-inflationary economy) that have
a functional currency different from the presentation currency are
translated into the presentation currency as follows:
(a) assets and liabilities for each statement of financial
position presented are translated at the closing rate at the
date of that statement of financial position;
(b) income and expenses for each statement of profit
or loss and statement of comprehensive income are
translated at average exchange rates (unless this is not a
reasonable approximation of the cumulative effect of the
rates prevailing on the transaction dates, in which case
income and expenses are translated at the dates of the
transactions); and
(c) all resulting exchange differences are recognized in other
comprehensive income.
On consolidation, exchange differences arising from the
translation of any net investment in foreign entities, and of
borrowings and other financial instruments designated as hedges
of such investments, are recognized in other comprehensive
income. When a foreign operation is sold or any borrowings
forming part of the net investment are repaid, the associated
exchange differences are reclassified to profit or loss, as part of
the gain or loss on sale.
Goodwill and fair value adjustments arising on the acquisition of a
foreign operation are treated as assets and liabilities of the foreign
operation and translated at the closing rate.
2 编制基准及重大会计政策（续）
2.4 外币换算（续）
(c) 集团旗下公司
集团旗下所有功能货币与呈报货币不同
之实体（概无任何实体使用通胀严重之经
济体系之货币）之业绩及财务状况，按以
下方式换算为呈报货币：
(a) 各财务状况表所呈列资产及负
债，按该财务状况表结算日之收
市汇率换算；
(b) 各损益表及全面收益表所示之收
入及开支均按照平均汇率换算（但
如此平均汇率未能合理地反映各
交易日之汇率所带来之累计影响
则除外，在此情况下，收入及开
支按照各交易日之汇率换算）；及
(c) 所有据此产生之汇兑差额于其他
全面收入确认。
在综合账目时，换算海外实体任何投资
净额所产生之汇兑差额以及换算被指定
作为有关投资之对冲项目之借款及其他
金融工具所产生之汇兑差额，均于其他
全面收入中确认。当出售海外业务时或
偿还构成该投资净额一部分之任何借贷
时，相关汇兑差额会重新分类至损益
表，作为出售盈亏之一部分。
收购海外业务所产生之商誉及公平值调
整被视作有关海外业务之资产及负债处
理，并按收市汇率换算。
Mobicon Group Limited – Annual Report 2024/2025
For the year ended 31st March 2025 截至二零二五年三月三十一日止年度
Notes to the Consolidated Financial Statements
综合财务报表附注
2 Basis of Preparation and Material
Accounting Policies(continued)
2.4 Foreign currency translation (continued)
(d) Disposal of foreign operation and partial disposal
On the disposal of a foreign operation (that is, a disposal of
the Group’s entire interest in a foreign operation, or a disposal
involving loss of control over a subsidiary that includes a foreign
operation, a disposal involving loss of joint control over a joint
venture that includes a foreign operation, or a disposal involving
loss of significant influence over an associate that includes a
foreign operation), all of the currency translation differences
accumulated in equity in respect of that operation attributable to
the owners of the Company are reclassified to profit or loss.
In the case of a partial disposal that does not result in the Group
losing control over a subsidiary that includes a foreign operation,
the proportionate share of accumulated currency translation
differences are re-attributed to non- controlling interests and are
not recognized in profit or loss. For all other partial disposals (that
is, reductions in the Group’s ownership interest in associates or
joint ventures that do not result in the Group losing significant
influence or joint control), the proportionate share of the
accumulated exchange difference is reclassified to profit or loss.
2.5 Investment properties
Investment properties, principally comprising leasehold
properties, are held for long-term rental yields or for capital
appreciation or both, and that are not occupied by the Group.
Investment properties are initially measured at cost, including
related transaction costs and where applicable borrowing costs.
Subsequently, they are carried at fair value. Changes in fair values
are presented in the consolidated statement of profit or loss as
part of a valuation gain or loss in “general and administrative
expenses”.
2 编制基准及重大会计政策（续）
2.4 外币换算（续）
(d) 出售境外业务及部分出售
于出售境外业务（即出售本集团于境外业
务之全部权益或导致失去附属公司（包含
境外业务）控制权之出售、导致失去合
营企业（包含境外业务）共同控制权之出
售，或导致失去联营公司（包含境外业
务）重大影响力之出售）时，在权益内与
该项业务相关并归属于本公司拥有人之
所有累计汇兑差额均重新分类至损益表。
倘部分出售不会导致本集团失去附属公
司（包含境外业务）之控制权，有关累计
汇兑差额之应占比例会重新归属予非控
股权益及不会于损益表确认。至于所有
其他部分出售（即本集团于联营公司或合
营企业之拥有权权益有所下降，惟不会
导致本集团失去重大影响力或共同控制
权），累计汇兑差额之应占比例则重新分
类至损益表。
2.5 投资物业
投资物业（主要包括租赁物业）乃为了
长期租金收益或为了资本增值或为了上
述两种目的而持有，且并非由本集团占
用。投资物业初步按成本值（包括相关交
易成本及（倘适用）借贷成本）计量。彼等
随后按公平值列账。公平值的变动于综
合损益表内「一般及行政管理费用」呈列
为估值损益之一部分。
万保刚集团有限公司 – 二零二四/二零二五年年报
For the year ended 31st March 2025 截至二零二五年三月三十一日止年度
Notes to the Consolidated Financial Statements
综合财务报表附注
2 Basis of Preparation and Material
Accounting Policies(continued)
2.6 Property, plant and equipment
Property, plant and equipment are stated at historical cost less
depreciation and impairment losses. Historical cost includes
expenditure that is directly attributable to the acquisition of the
items.
Subsequent costs are included in the asset’s carrying amount or
recognized as a separate asset, as appropriate, only when it is
probable that future economic benefits associated with the item
will flow to the Group and the cost of the item can be measured
reliably. The carrying amount of any component accounted for as
a separate asset is derecognized when replaced. All other repairs
and maintenance are charged to profit or loss during the reporting
period in which they are incurred.
Increases in the carrying amounts arising on revaluation of certain
lease properties are recognized, net of tax, in other comprehensive
income and accumulated in reserves in shareholders’ equity. To the
extent that the increase reverses a decrease previously recognized
in profit or loss, the increase is first recognized in profit or loss.
Decrease that reverse previous increases of the same asset are
first recognized in other comprehensive income to the extent of
the remaining surplus attributable to the asset; all other decreases
are charged to profit or loss. Each year, the difference between
depreciation based on the revalued carrying amount of the asset
charged to profit or loss and depreciation based on the asset’s
original cost, net of tax, is reclassified from revaluation reserve to
retained profits.
2 编制基准及重大会计政策（续）
2.6 物业、厂房及设备
物业、厂房及设备按历史成本减去折旧
及减值亏损列账。历史成本包括收购有
关项目之直接应占开支。
当与项目有关之未来经济利益有可能流
入本集团，以及项目成本能可靠计量
时，其后成本方计入资产之账面值或确
认为独立资产（视适用情况而定）。入账
为独立资产的置换部分之账面值将终止
确认。所有其他维修及保养费于产生之
报告期间于损益表扣除。
若干租赁物业重估产生的账面值增加，
于除税项后，于其他全面收入中确认，
并在股东权益储备中累计。倘增幅转回
之前在损益中确认的减幅，则增幅先在
损益中确认。倘减幅转回同一资产之前
增幅，则首先在其他综合收益中确认，
但以该资产应占的剩余盈余为限；所有
其他减幅均计入损益。每年，根据资产
重估账面金额计入损益的折旧，与根据
资产原始成本（扣除税费）计提的折旧之
间的差额，从重估储备，重新分类至留
存溢利。
Mobicon Group Limited – Annual Report 2024/2025
For the year ended 31st March 2025 截至二零二五年三月三十一日止年度
Notes to the Consolidated Financial Statements
综合财务报表附注
2 Basis of Preparation and Material
Accounting Policies(continued)
2.6 Property, plant and equipment (continued)
Freehold lands are not depreciated and are measured at cost less
subsequent accumulated impairment losses.
Depreciation is calculated using the straight-line method to
allocate their costs, net of their residual values, over their
estimated useful lives as follows:
Buildings20 years
Leasehold properties25 to 60 years
Furniture and fixtures4 to 10 years
Office equipment4 to 10 years
Motor vehicles4 to 6 years
The assets’ residual values and useful lives are reviewed, and
adjusted if appropriate, at the end of each reporting period.
Certain lease properties are recognized at fair value based on
periodic, but at least triennial, valuations by external independent
valuers, less subsequent depreciation. A revaluation surplus is
credited to other reserves in shareholders’ equity.
An asset’s carrying amount is written down immediately to its
recoverable amount if the asset’s carrying amount is greater than
its estimated recoverable amount.
Gains and losses on disposals are determined by comparing
proceeds with carrying amount. These are included in the
consolidated statement of profit or loss.
2 编制基准及重大会计政策（续）
2.6 物业、厂房及设备（续）
永久业权土地不予折旧及按成本减其后
的累计减值亏损计量。
折旧以直线法按其估计可用年期分配其
成本（扣除剩余价值）计算如下：
楼宇20年
租赁物业25至60年
家私及装置4至10年
办公室设备4至10年
汽车4至6年
资产之剩余价值及可用年期会于各报告
期间结算日审阅及调整（如适用）。
若干租赁物业由外部独立估值师定期（但
至少三年一次）作出的公平值，减去后续
折旧，予以确认。重估盈余计入股东权
益中的其他储备。
倘资产之账面值超过其估计可收回金
额，则其账面值将即时撇减至其可收回
金额。
出售所得收益及亏损透过比较所得款项
与账面值厘定，并于综合损益表入账。
万保刚集团有限公司 – 二零二四/二零二五年年报
For the year ended 31st March 2025 截至二零二五年三月三十一日止年度
Notes to the Consolidated Financial Statements
综合财务报表附注
2 Basis of Preparation and Material
Accounting Policies(continued)
2.7 Intangible assets
(i) Goodwill
Goodwill on acquisitions of subsidiaries is included in intangible
assets. Goodwill is not amortized but it is tested for impairment
annually, or more frequently if events or changes in circumstances
indicate that it might be impaired, and is carried at cost less
accumulated impairment losses. Gains and losses on the disposal
of an entity include the carrying amount of goodwill relating to the
entity sold.
Goodwill is allocated to cash-generating units for the purpose
of impairment testing. The allocation is made to those cash-
generating units or groups of cash-generating units that are
expected to benefit from the business combination in which
the goodwill arose. The units or groups of units are identified
at the lowest level at which goodwill is monitored for internal
management purposes, being the operating segments.
(ii) Licenses
Separately acquired licenses are shown at historical cost. Licenses
acquired in a business combination are recognized at fair value
at the acquisition date. They have a finite useful life and are
subsequently carried at cost less accumulated amortization and
impairment losses.
2 编制基准及重大会计政策（续）
2.7 无形资产
(i) 商誉
收购附属公司所产生之商誉计入无形资
产。商誉不作摊销，惟会每年进行减值
测试或于有事件或情况变动显示其可能
出现减值时更频密地进行减值测试。商
誉按成本减去累计减值亏损列账。出售
实体所得盈亏计入已出售实体之相关商
誉之账面值。
为进行减值测试，商誉会分配至现金产
生单位。商誉会分配至预期可从产生商
誉之业务合并中得益之现金产生单位或
现金产生单位组别。有关现金产生单位
或单位组别为内部管理监察商誉之最基
层，即经营分部。
(ii) 许可权
独立购入之许可权按历史成本列账。在
业务合并中所得之许可权于收购日期按
公平值确认。上述各项具有限定可使用
年期，以及其后按成本减去累计摊销及
减值亏损列账。
Mobicon Group Limited – Annual Report 2024/2025
For the year ended 31st March 2025 截至二零二五年三月三十一日止年度
Notes to the Consolidated Financial Statements
综合财务报表附注
2 Basis of Preparation and Material
Accounting Policies(continued)
2.8 Impairment of non-financial assets
Goodwill and intangible assets that have an indefinite useful
life are not subject to amortization and are tested annually
for impairment, or more frequently if events or changes in
circumstances indicate that they might be impaired. Other
assets are tested for impairment whenever events or changes
in circumstances indicate that the carrying amount may not be
recoverable. An impairment loss is recognized for the amount by
which the asset’s carrying amount exceeds its recoverable amount.
The recoverable amount is the higher of an asset’s fair value less
costs of disposal and value in use. For the purposes of assessing
impairment, assets are grouped at the lowest levels for which
there are separately identifiable cash inflows which are largely
independent of the cash inflows from other assets or groups of
assets (cash-generating units). Non-financial assets other than
goodwill that suffered an impairment are reviewed for possible
reversal of the impairment at the end of each reporting period.
2.9 Investments and other financial assets
(a) Classification
The Group classifies its financial assets in the following
measurement categories:
• those to be measured subsequently at fair value (either
through OCI or through profit or loss), and
• those to be measured at amortised cost.
The classification depends on the entity’s business model for
managing the financial assets and the contractual terms of the
cash flows.
For assets measured at fair value, gains and losses will either
be recorded in profit or loss or OCI. For investments in equity
instruments that are not held for trading, this will depend on
whether the Group has made an irrevocable election at the time of
initial recognition to account for the equity investment at fair value
through other comprehensive income (“FVOCI”).
The Group reclassifies debt investments when and only when its
business model for managing those assets changes.
2 编制基准及重大会计政策（续）
2.8 非金融资产之减值
商誉及并无限定可用年期之无形资产毋
须摊销，惟须每年进行减值测试或于有
事件或情况变动显示其可能出现减值时
更频密地进行减值测试。其他资产则于
发生任何可能导致未能收回账面值之事
项或情况变化时进行减值测试。资产账
面值高出可收回金额之数会确认为减值
亏损。可收回金额为资产公平值减去出
售成本或使用价值（以较高者为准）。为
评估资产减值，本集团按可个别识别现
金流入（大致上独立于来自其他资产或资
产组别之现金流入）的最低层面（现金产
生单位）划分资产类别。出现减值之非金
融资产（商誉除外）将于各报告期间结算
日检讨拨回减值之可能性。
2.9 投资及其他金融资产
(a) 分类
本集团将其金融资产分类为以下计量类
别：
- （透过其他全面
收入或透过损益）的金融资产；及
- 。
分类取决于实体管理金融资产之业务模
式及现金流量之合约条款。
就按公平值计量的资产而言，收益或亏
损将于损益或其他全面收入入账。就并
非持作贸易的股权工具之投资而言，这
将取决于本集团于初步确认时有否作出
不可撤回的选择，将股本投资以按公平
值计入其他全面收入（「按公平值计入其
他全面收入」）入账。
本集团于（及仅会于）其管理债务投资之
业务模式有变时重新分类有关资产。
万保刚集团有限公司 – 二零二四/二零二五年年报
For the year ended 31st March 2025 截至二零二五年三月三十一日止年度
Notes to the Consolidated Financial Statements
综合财务报表附注
2 Basis of Preparation and Material
Accounting Policies(continued)
2.9 Investments and other financial assets (continued)
(b) Recognition and derecognition
Regular way purchases and sales of financial assets are
recognized on trade-date, the date on which the Group commits to
purchase or sell the asset. Financial assets are derecognized when
the rights to receive cash flows from the financial assets have
expired or have been transferred and the Group has transferred
substantially all the risks and rewards of ownership.
(c) Measurement
At initial recognition, the Group measures a financial asset at
its fair value plus, in the case of a financial asset not at fair
value through profit or loss (the “FVPL”), transaction costs that
are directly attributable to the acquisition of the financial asset.
Transaction costs of financial assets carried at FVPL are expensed
in profit or loss.
Financial assets with embedded derivatives are considered in their
entirety when determining whether their cash flows are solely
payment of principal and interest.
Debt instruments
Subsequent measurement of debt instruments depends on the
Group’s business model for managing the asset and the cash
flow characteristics of the asset. The Group classifies its debt
instruments as financial assets at amortized cost.
Amortized cost: Assets that are held for collection of contractual
cash flows where those cash flows represent solely payments of
principal and interest are measured at amortized cost. Interest
income from these financial assets is included in finance income
using the effective interest rate method. Any gain or loss arising on
derecognition is recognized directly in profit or loss and presented
in other income and net gains together with foreign exchange
gains and losses. Impairment losses are included in general and
administrative expenses.
2 编制基准及重大会计政策（续）
2.9 投资及其他金融资产（续）
(b) 确认及终止确认
一般金融资产买卖乃于买卖日期，即本
集团承诺买卖有关资产当日确认入账。
本集团于收取金融资产现金流量之权利
届满或已经转让且本集团已转让拥有权
绝大部分风险和回报时，终止确认有关
金融资产。
(c) 计量
于初步确认时，本集团按公平值加上（如
属并非按公平值计入损益（「按公平值计
入损益」）之金融资产）收购金融资产之直
接应占交易成本计量金融资产。按公平
值计入损益之金融资产之交易成本于损
益中支销。
具有嵌入衍生工具之金融资产之现金流
量是否仅代表本金及利息之付款时，需
从金融资产之整体进行考虑。
债务工具
债务工具之后续计量取决于本集团管理
资产之业务模式及资产之现金流量特
征。本集团将其债务工具分类为按摊销
成本计量之金融资产。
按摊销成本：为收取合约现金流量而持
有，而其现金流量仅为本金及利息付款
的资产按摊销成本计量。该等金融资产
之利息收入按实际利率法计入财务收
入。终止确认产生之任何收益或亏损直
接于损益确认，并于其他收入及收益净
额中与汇兑收益及亏损一并呈列。减值
亏损则计入一般及行政管理费用。
Mobicon Group Limited – Annual Report 2024/2025
For the year ended 31st March 2025 截至二零二五年三月三十一日止年度
Notes to the Consolidated Financial Statements
综合财务报表附注
2 Basis of Preparation and Material
Accounting Policies(continued)
2.9 Investments and other financial assets (continued)
(c) Measurement (continued)
Equity instruments
The Group subsequently measures all equity investments at fair
value. Where the Group’s management has elected to present
fair value gains and losses on equity investments in other
comprehensive income, there is no subsequent reclassification
of fair value gains and losses to profit or loss following the
derecognition of the investment. Dividends from such investments
continue to be recognized in profit or loss as other income when
the Group’s right to receive payments is established.
Changes in the fair value of financial assets at FVPL are recognized
in the consolidated statement of profit or loss as applicable.
Impairment losses (and reversal of impairment losses) on equity
investments measured at FVOCI are not reported separately from
other changes in fair value.
(d) Impairment
The Group assesses on a forward-looking basis the expected credit
loss associated with its debt instruments carried at amortized
cost and FVOCI. The impairment methodology applied depends on
whether there has been a significant increase in credit risk. Note
3.1 details how the Group determines whether there has been a
significant increase in credit risk.
For trade receivables, the Group applies the simplified approach
permitted by HKFRS 9, which requires expected lifetime losses to
be recognized from initial recognition of the receivables. For other
receivables, impairment is measured as either 12-month expected
credit losses or lifetime expected credit losses, depending on
whether there has been a significant increase in credit risk since
initial recognition. If a significant increase in credit risk of a
receivable has occurred since initial recognition, then impairment
is measured as lifetime expected credit losses.
2 编制基准及重大会计政策（续）
2.9 投资及其他金融资产（续）
(c) 计量（续）
股权工具
本集团其后按公平值计量所有股本投
资。倘本集团管理层已选择在其他全面
收入中呈列股本投资之公平值收益或亏
损，则在终止确认有关投资后，随后不
会把公平值收益及亏损重新分类至损益
表。有关投资之股息收入会于本集团确
立收款权利后，继续在损益表确认为其
他收入。
按公平值计入损益之金融资产之公平值
变动于综合损益表确认（倘适用）。按公
平值计入其他全面收入计量之股本投资
之减值亏损（及减值亏损之拨回）不会与
其他公平值变动分开呈报。
(d) 减值
本集团按具有前瞻性之基准，评估其按
摊销成本及按公平值计入其他全面收入
列账之债务工具之相关预期信贷亏损。
所应用之减值方法取决于信贷风险是否
已大幅上升。附注3.1详述本集团厘定信
贷风险有否大幅上升之方法。
就应收贸易账款而言，本集团应用香港
财务报告准则第9号所允许之简化处理方
法，其规定预期全期亏损须自初步确认
应收款项起予以确认。就其他应收款项
而言，减值按12个月预期信贷亏损或全期
预期信贷亏损计量，取决于自初步确认
后信贷风险是否大幅上升。倘应收款项
之信贷风险自初步确认后大幅上升，则
减值按全期预期信贷亏损计量。
万保刚集团有限公司 – 二零二四/二零二五年年报
For the year ended 31st March 2025 截至二零二五年三月三十一日止年度
Notes to the Consolidated Financial Statements
综合财务报表附注
2 Basis of Preparation and Material
Accounting Policies(continued)
2.10 Offsetting financial instruments
Financial assets and liabilities are offset and the net amount is
reported in the consolidated statement of financial position where
the Company currently has a legally enforceable right to offset the
recognized amounts, and there is an intention to settle on a net
basis or realize the asset and settle the liability simultaneously.
2.11 Inventories
Inventories are stated at the lower of cost and net realizable
value. Cost is determined using the weighted average method
and excludes borrowing costs. Costs of purchased inventories are
determined after deducting rebates and discounts. Net realizable
value is the estimated selling price in the ordinary course of
business less the estimated costs of completion and the estimated
costs necessary to make the sale.
2.12 Trade receivables
Trade receivables are amounts due from customers for
merchandize sold or services performed in the ordinary course of
business. If collection of trade receivables is expected in one year
or less (or in the normal operating cycle of the business if longer),
they are classified as current assets. If not, they are presented as
non-current assets.
Trade receivables are recognized initially at the amount of
consideration that is unconditional unless they contain significant
financing components, when they are recognized at fair value. The
Group holds the trade receivables with the objective to collect the
contractual cash flows and therefore measures them subsequently
at amortized cost using the effective interest method.
2.13 Cash and cash equivalents
For the purpose of presentation in the consolidated statement
of cash flows, cash and cash equivalents includes cash on hand,
deposits held at call with financial institutions, other short-term,
highly liquid investments with original maturities of three months
or less that are readily convertible to known amounts of cash and
which are subject to an insignificant risk of changes in value, and
bank overdrafts. Bank overdrafts are shown within borrowings
in current liabilities in the consolidated statement of financial
position.
2 编制基准及重大会计政策（续）
2.10 金融工具之抵销
如本公司现时具有抵销已确认金额之合
法执行权利，并计划以净额结算或同时
变现资产及清偿负债，则金融资产与负
债可相互抵销，而有关净额在综合财务
状况表中呈报。
2.11 存货
存货按成本值或可变现净值（以较低者为
准）列账。成本使用加权平均法计算厘
定，其不包括借贷成本。已购入存货之
成本经扣除回扣及折扣后计算厘定。可
变现净值则按日常业务过程中之估计售
价减去估计完成成本及估计进行销售所
需成本计算厘定。
2.12 应收贸易账款
应收贸易账款为在日常业务过程中就已
售商品或已提供服务应收客户的款项。
倘应收贸易账款预期可于一年或之内收
回（或仍在业务之一般经营周期中，则可
延长），则分类为流动资产。否则，在非
流动资产中呈列。
应收贸易账款初步按无条件代价金额确
认，但如有关金额包含重大融资成份则
除外，届时应收贸易账款将按公平值确
认。由于本集团持有应收贸易账款之目
的为收取合约现金流量，故此其后使用
实际利息法按摊销成本计量应收贸易账
款。
2.13 现金及现金等值物
就综合现金流量表之呈报而言，现金及
现金等值物包括手头现金、于财务机构
之活期存款、原定到期日为三个月或以
下并可随时兑换为已知金额现金及其价
值变动风险并不重大之其他短期及高流
通性投资及银行透支。银行透支于综合
财务状况表流动负债内以借贷列账。
Mobicon Group Limited – Annual Report 2024/2025
For the year ended 31st March 2025 截至二零二五年三月三十一日止年度
Notes to the Consolidated Financial Statements
综合财务报表附注
2 Basis of Preparation and Material
Accounting Policies(continued)
2.14 Share capital
Ordinary shares are classified as equity.
Incremental costs directly attributable to the issue of new shares
or options are shown in equity as a deduction, net of tax, from the
proceeds.
2.15 Trade and other payables
These amounts represent liabilities for goods and services
provided to the Group prior to the end of financial year which
are unpaid. Trade and other payables are classified as current
liabilities if payment is due within one year or less (or in the normal
operating cycle of the business if longer). If not, they are presented
as non-current liabilities.
Trade and other payables are recognized initially at fair value
and subsequently measured at amortized cost using the effective
interest method.
2.16 Contract assets and contract liabilities
Upon entering into a contract with a customer, the Group obtains
rights to receive consideration from the customer and assumes
performance obligations to transfer goods or provide services to
the customer. The combination of those rights and performance
obligations gives rise to a net asset or a net liability depending on
the relationship between the remaining rights and the performance
obligations. The contract is an asset and recognized as contract
assets if the measure of the remaining rights exceeds the measure
of the remaining performance obligations. Conversely, the contract
is a liability and recognized as contract liabilities if the measure of
the remaining performance obligations exceeds the measure of the
remaining rights.
2 编制基准及重大会计政策（续）
2.14 股本
普通股分类为权益。
发行新股或购股权直接有关之新增成本
于权益列作所得款项之扣减（已扣除税
项）。
2.15 应付贸易账款及其他应付款项
该等金额指于财政年度结算日前已向本
集团提供之货品及服务之未付负债。倘
应付贸易账款及其他应付款项于一年或
更短时间内到期（或仍在业务之一般经营
周期中，则可延长），则分类为流动负
债。否则，在非流动负债中呈列。
应付贸易账款及其他应付款项初步按公
平值确认，其后以实际利息法按摊销成
本计量。
2.16 合约资产及合约负债
当本集团与客户订立合约后，本集团便
获得从客户收取代价之权利，并承担将
货品转让予客户或向客户提供服务之履
约责任。该等权利及履约责任之结合导
致产生净资产或净负债，而此视乎剩余
权利与履约责任之间的关系而定。如计
量所得余下权利超过计量所得余下履约
责任，则合约为资产，并确认为合约资
产。相反，如计量所得余下履约责任超
过计量所得余下权利，则合约为负债，
并确认为合约负债。
万保刚集团有限公司 – 二零二四/二零二五年年报
For the year ended 31st March 2025 截至二零二五年三月三十一日止年度
Notes to the Consolidated Financial Statements
综合财务报表附注
2 Basis of Preparation and Material
Accounting Policies(continued)
2.17 Borrowings
Borrowings are initially recognized at fair value, net of transaction
costs incurred. Borrowings are subsequently measured at
amortized cost. Any difference between the proceeds (net of
transaction costs) and the redemption amount is recognized in
the consolidated statement of profit or loss over the period of the
borrowings using the effective interest method.
Fees paid on the establishment of loan facilities are recognized as
transaction costs of the loan to the extent that it is probable that
some or all of the facility will be drawn down. In this case, the fee
is deferred until the draw-down occurs. To the extent there is no
evidence that it is probable that some or all of the facility will be
drawn down, the fee is capitalized as a prepayment for liquidity
services and amortized over the period of the facility to which it
relates.
Borrowings are removed from the balance sheet when the
obligation specified in the contract is discharged, cancelled or
expired. The difference between the carrying amount of a financial
liability that has been extinguished or transferred to another
party and the consideration paid, including any non-cash assets
transferred or liabilities assumed, is recognized in profit or loss as
finance costs.
Where the terms of a financial liability are renegotiated and the
entity issues equity instruments to a creditor to extinguish all
or part of the liability (debt for equity swap), a gain or loss is
recognized in profit or loss, which is measured as the difference
between the carrying amount of the financial liability and the fair
value of the equity instruments issued.
Borrowings are classified as current liabilities unless the Group
has an unconditional right to defer settlement of the liability for at
least 12 months after the end of the reporting period.
2 编制基准及重大会计政策（续）
2.17 借贷
借贷初步以公平值确认，并扣减所产生
交易成本。借贷其后以摊销成本列账。
所得款项（已扣除交易成本）与赎回金额
间之任何差额，乃以实际利息法于借贷
期间在综合损益表确认。
设立贷款融资时支付之费用，于有可能
提取部分或所有融资时确认为贷款之交
易成本。在此情况下，该费用会递延至
提取融资为止。倘并无证据显示有可能
提取部分或所有融资，则有关费用将资
本化作流动资金服务之预付款项，并在
融资相关期间摊销。
当有关合约内指定之责任获解除、取消
或届满时，借贷乃自资产负债表剔除。
已失效或转移至另一方的金融负债的账
面值与已付代价间的差额（包括已转移之
任何非现金资产或承担之负债）于损益内
确认为融资成本。
倘金融负债的条款已获重新磋商，且实
体向债权人发行股权工具以注销全部或
部分负债（权益掉期债务），则收益或亏
损于损益内确认，并按金融负债的账面
值与已发行股权工具的公平值间的差额
计量。
借贷归类为流动负债，除非本集团有权
无条件将负债延长至报告期间结算日后
最少12个月后清偿则作别论。
Mobicon Group Limited – Annual Report 2024/2025
For the year ended 31st March 2025 截至二零二五年三月三十一日止年度
Notes to the Consolidated Financial Statements
综合财务报表附注
2 Basis of Preparation and Material
Accounting Policies(continued)
2.18 Borrowing costs
Borrowing costs are recognized in the consolidated statement of
profit or loss in the period in which they are incurred.
2.19 Financial guarantee contracts
A financial guarantee contract is a contract that requires the issuer
to make specified payments to reimburse the holder for a loss it
incurs because a specified debtor fails to make payment when due,
in accordance with the terms of a debt instrument.
Financial guarantee contract issued by the Group are initially
measured at the fair values and, if not designated as at FVPL, are
subsequently measured at the higher of:
• the amount determined in accordance with expected credit
loss model under HKFRS 9 Financial Instruments and
- , when appropriate,
cumulative amortization recognized in accordance with
the principles of HKFRS 15 Revenue from Contracts with
Customers.
The fair value of financial guarantees is determined as the present
value of the difference in net cash flows between the contractual
payments under the debt instrument and the payments that would
be required without the guarantee, or the estimated amount that
would be payable to a third party for assuming the obligations.
2 编制基准及重大会计政策（续）
2.18 借贷成本
借贷成本于产生期间在综合损益表确认。
2.19 财务担保合约
财务担保合约乃当指定债务人无法根据
债务工具条款偿还到期应付款项时要求
发行人向持有人支付特定金额以补偿其
所蒙受损失之合约。
由本集团发出之财务担保合约初步按公
平值计量，如其并非指定为按公平值计
入损益之财务担保合约，其后以下列较
高者计量：
- 「金
融工具」项下之预期信贷亏损模式
厘定之金额及
- （如适用）根据
香港财务报告准则第15号「客户合
约收益」之原则确认之累计摊销。
财务担保之公平值按债务工具项下之合
约付款与在并无担保之情况下所需付款
之间之净现金流量差额之现值，或按因
承担责任而应付第三方之估计金额厘定。
万保刚集团有限公司 – 二零二四/二零二五年年报
For the year ended 31st March 2025 截至二零二五年三月三十一日止年度
Notes to the Consolidated Financial Statements
综合财务报表附注
2 Basis of Preparation and Material
Accounting Policies(continued)
2.20 Current and deferred income tax
The income tax expense or credit for the period is the tax payable
on the current period’s taxable income based on the applicable
income tax rate for each jurisdiction adjusted by changes in
deferred tax assets and liabilities attributable to temporary
differences and to unused tax losses.
(a) Current income tax
The current income tax charge is calculated on the basis of the tax
laws enacted or substantively enacted at the end of the reporting
period in the countries where the Company’s subsidiaries and
associates operate and generate taxable income. Management
periodically evaluates positions taken in tax returns with respect
to situations in which applicable tax regulation is subject to
interpretation and considers whether it is probable that a taxation
authority will accept an uncertain tax treatment. The Group
measures its tax balances either based on the most likely amount
or the expected value, depending on which method provides a
better prediction of the resolution of the uncertainty.
(b) Deferred income tax
Deferred income tax is provided in full, using the liability method,
on temporary differences arising between the tax bases of assets
and liabilities and their carrying amounts in the consolidated
financial statements. However, deferred tax liabilities are not
recognized if they arise from the initial recognition of goodwill.
Deferred income tax is also not accounted for if it arises from
initial recognition of an asset or liability in a transaction other
than a business combination that at the time of the transaction
affects neither accounting nor taxable profit or loss and at the time
of transaction does not give rise to equal taxable and deductible
temporary differences. Deferred income tax is determined using
tax rates (and laws) that have been enacted or substantively
enacted by the end of the reporting period and are expected to
apply when the related deferred income tax asset is realized or the
deferred income tax liability is settled.
2 编制基准及重大会计政策（续）
2.20 即期及递延所得税
期内所得税开支或抵免指根据各司法权
区的适用所得税税率计算当期应课税收
入的应付税项，并经暂时差额及未使用
税务亏损所致的递延税项资产及负债变
动调整。
(a) 即期所得税
即期所得税支出根据本公司附属公司及
联营公司营运及产生应课税收入之国家
于报告期间结算日已颁布或实际颁布之
税务法例计算。管理层就适用税务法例
诠释所规限之情况，定期评估报税表状
况，并考虑税务机关是否可能接受不确
定的税务处理。本集团以最可能金额或
预期值计算其税项结余，视乎哪种方法
能更好地预测不确定性的解决方法。
(b) 递延所得税
递延所得税就资产及负债之税基与综合
财务报表所示账面值之间的暂时差额，
以负债法悉数计提拨备。然而，倘于初
步确认商誉产生递延税项负债，则不会
确认递延税项负债。倘于非业务合并之
交易中初次确认资产或负债而产生递延
所得税，而交易当时并无影响会计处理
及应课税溢利或亏损，且交易当时不产
生相等的应课税及可抵扣暂时差额，则
亦不会将递延所得税入账。递延所得税
按于报告期结算日前已颁布或实质颁
布，并以在变现有关递延所得税资产或
清偿递延所得税负债时预期将会适用之
税率（及法例）厘定。
Mobicon Group Limited – Annual Report 2024/2025
For the year ended 31st March 2025 截至二零二五年三月三十一日止年度
Notes to the Consolidated Financial Statements
综合财务报表附注
2 Basis of Preparation and Material
Accounting Policies(continued)
2.20 Current and deferred income tax (continued)
(b) Deferred income tax (continued)
For leasing transactions in which the tax deductions are
attributable to the lease liabilities, the Group applies HKAS
12 requirements to the lease liabilities and the related assets
separately. The Group recognizes a deferred tax asset related
to lease liabilities to the extent that it is probable that taxable
profit will be available against which the deductible temporary
difference can be utilized and a deferred tax liability for all taxable
temporary differences.
Current and deferred tax is recognized in profit or loss, except
to the extent that it relates to items recognized in other
comprehensive income or directly in equity. In this case, the tax
is also recognized in other comprehensive income or directly in
equity, respectively.
The deferred tax liability in relation to investment property that is
measured at fair value is determined assuming the property will be
recovered entirely through sale.
Deferred tax assets are recognized only if it is probable that
future taxable amounts will be available to utilize those temporary
differences and losses.
Deferred tax liabilities and assets are not recognized for temporary
differences between the carrying amount and tax bases of
investments in foreign operations where the Company is able to
control the timing of the reversal of the temporary differences
and it is probable that the differences will not reverse in the
foreseeable future.
2 编制基准及重大会计政策（续）
2.20 即期及递延所得税（续）
(b) 递延所得税（续）
就税项扣减归因于租赁负债之租赁交易
而言，本集团将香港会计准则第12号规定
分开应用于租赁负债及相关资产。在很
可能取得能利用该可抵扣暂时性差异来
抵扣的应课税溢利的限度内，本集团会
确认有关租赁负债的递延税项资产，并
就所有应课税暂时性差异确认递延税项
负债。
即期及递延税项于损益内确认，惟与于
其他全面收入或直接于权益确认的项目
相关除外。于此情况下，税项亦分别于
其他全面收入或直接于权益中确认。
有关投资物业的递延税项负债按公平值
计量，其于假设该物业将透过出售全部
收回时厘定。
倘仅于可能有未来应课税金额将可供使
用以动用该等暂时差额及亏损时，确认
递延税项资产。
并未就海外经营投资的账面值与税基之
间的暂时差额确认递延税项负债及资
产，该情况下本公司能够控制暂时差额
的拨回时间以及差额在可预见未来很可
能将不会拨回。
万保刚集团有限公司 – 二零二四/二零二五年年报
For the year ended 31st March 2025 截至二零二五年三月三十一日止年度
Notes to the Consolidated Financial Statements
综合财务报表附注
2 Basis of Preparation and Material
Accounting Policies(continued)
2.20 Current and deferred income tax (continued)
(c) Offsetting
Deferred tax assets and liabilities are offset where there is a
legally enforceable right to offset current tax assets and liabilities
and where the deferred tax balances relate to the same taxation
authority. Current tax assets and tax liabilities are offset where the
entity has a legally enforceable right to offset and intends either to
settle on a net basis, or to realize the asset and settle the liability
simultaneously.
Deferred tax assets and liabilities are offset when there is a legally
enforceable right to set off current tax assets against current tax
liabilities and when they relate to income taxes levied by the same
taxation authority on either:
(a) the same taxable entity; or
(b) different taxable entities which intend either to settle
current tax liabilities and assets on a net basis, or to
realize the assets and settle the liabilities simultaneously,
in each future period in which significant amounts of
deferred tax liabilities or assets are expected to be settled
or recovered.
2.21 Employee benefits
(a) Pension obligations
The Group operates a number of defined contribution plans, the
assets of which are generally held in independently administered
funds. The Group’s contributions to the defined contribution
retirement schemes are expensed as incurred and are reduced by
contributions forfeited by those employees who leave the scheme
prior to vesting fully in the contributions.
For LSP obligation, the Group accounts for the employer MPF
contributions expected to be offset as a deemed employee
contribution towards the LSP obligation in terms of HKAS 19.93(a)
and it is measured on a net basis. The estimated amount of future
benefit is determined after deducting the negative service cost
arising from the accrued benefits derived from the Group’s MPF
contributions that have been vested with employees, which are
deemed to be contributions from the relevant employees.
2 编制基准及重大会计政策（续）
2.20 即期及递延所得税（续）
(c) 抵销
当有可依法强制执行的权利将即期税项
资产与负债抵销，而递延税项结余与同
一税务机构相关时，则可将递延税项资
产与负债抵销。当实体有可依法强制执
行抵销权利且有意按净额基准结算或同
时变现资产及清偿负债时，则即期税项
资产与税项负债抵销。
当有合法执行权利将即期税项资产抵销
即期税项负债时，以及当它们与同一税
务机关对以下实体征收的所得税有关
时，递延税项资产及负债均予以抵销：
(a) 同一应课税实体；或
(b) 拟于各预期将清偿或收回大额递
延税项负债或资产的未来期间按
净额基准结算即期税项负债与资
产，或同时变现资产及清偿负债
的不同应课税实体。
2.21 雇员福利
(a) 退休金承担
本集团设有多项定额供款计划，计划之
资产一般由独立管理基金持有。本集团
向定额供款退休计划作出之供款于产生
时支销，并可利用雇员在全数获得供款
前退出计划所没收之供款抵销。
就长期服务金义务而言，根据香港会计
准则第19.93(a)条，本集团将预期将予抵
销的雇主强积金供款入账为视作雇员对
长期服务金义务的供款，并按净额基准
计算。未来福利的估计金额乃经扣除本
集团已归属于雇员的强积金供款所产生
的应计福利的负服务成本后厘定，有关
供款被视为来自有关雇员的供款。
Mobicon Group Limited – Annual Report 2024/2025
For the year ended 31st March 2025 截至二零二五年三月三十一日止年度
Notes to the Consolidated Financial Statements
综合财务报表附注
2 Basis of Preparation and Material
Accounting Policies(continued)
2.21 Employee benefits (continued)
(b) Employee leave entitlements
Employee entitlements to annual leave and long service leave are
recognized when they accrue to employees. A provision is made
for the estimated liability for annual leave and long service leave
as a result of services rendered by employees up to the end of the
reporting period.
Employee entitlements to sick leave and maternity leave are not
recognized until the time of leave.
(c) Share-based compensation
The Group operates an equity-settled, share-based compensation
plan. The fair value of the employee services received in exchange
for the grant of the options is recognized as an expense. The total
amount to be expensed over the vesting period is determined
by reference to the fair value of the options granted, excluding
the impact of any non-market vesting conditions (for example,
profitability and sales growth targets). Non- market vesting
conditions are included in assumptions about the number of
options that are expected to become exercisable. At the end
of each reporting period, the entity revises its estimates of the
number of options that are expected to become exercisable. It
recognizes the impact of the revision of original estimates, if any,
in the consolidated statement of comprehensive income, with a
corresponding adjustment to equity. The proceeds received net of
any directly attributable transaction costs are credited to share
capital (nominal value) and share premium when the options are
exercised.
(d) Profit-sharing and bonus plans
The expected cost of profit sharing and bonus payments are
recognized as a liability when the Group has a present legal
or constructive obligation as a result of services rendered by
employees and a reliable estimate of the obligation can be made.
Liabilities for profit sharing and bonus plans are expected to
be settled within 12 months and are measured at the amounts
expected to be paid when they are settled.
2 编制基准及重大会计政策（续）
2.21 雇员福利（续）
(b) 雇员享有之假期
雇员可享有之年假及长期服务假期于雇
员应享有时确认，并就雇员于截至报告
期间结算日为止提供服务而可享有之年
假及长期服务假期之估计负债作出拨备。
雇员可享有之病假及产假于休假时方予
确认。
(c) 股份付款报酬
本集团设有一项以股本结算并以股份付
款之报酬计划。就雇员所提供服务而授
出购股权作交换之公平值乃确认为开
支。归属期内支销总额乃参考所授出购
股权之公平值厘定，惟不包括任何非市
场性质归属条件（例如：盈利能力及销售
额增长目标）所产生之影响。预计可予行
使之购股权数目时，非市场性质归属条
件纳入假设中。于各报告期间结算日，
实体修订预计可予行使购股权之估计数
目，并于综合全面收益表确认修订原有
估计之影响（如有），并对权益作出相应
调整。已收所得款项扣除任何直接应计
交易成本后，于购股权获行使时计入股
本（面值）及股份溢价。
(d) 溢利分享及花红计划
溢利分享及派付花红之预计成本，于本
集团因雇员所提供服务而产生现有法定
或推定责任，且该等责任能够可靠估计
时确认为负债。
溢利分享及花红计划之负债预期于12个月
内清付，并按清付时预期支付之金额计
量。
万保刚集团有限公司 – 二零二四/二零二五年年报
For the year ended 31st March 2025 截至二零二五年三月三十一日止年度
Notes to the Consolidated Financial Statements
综合财务报表附注
2 Basis of Preparation and Material
Accounting Policies(continued)
2.22 Provisions
Provisions for legal claims are recognized when the Group has a
present legal or constructive obligation as a result of past events;
it is probable that an outflow of resources will be required to
settle the obligation and the amount has been reliably estimated.
Provisions are not recognized for future operating losses.
Where there are a number of similar obligations, the likelihood
that an outflow will be required in settlement is determined by
considering the class of obligations as a whole. A provision is
recognized even if the likelihood of an outflow with respect to any
one item included in the same class of obligations may be small.
Provisions are measured at the present value of management’s
best estimate of the expenditure required to settle the present
obligation at the end of the reporting period. The discount rate
used to determine the present value is a pre-tax rate that reflects
current market assessments of the time value of money and the
risks specific to the liability. The increase in the provision due to
the passage of time is recognized as interest expense.
2.23 Revenue recognition
Revenue is measured at the fair value of the consideration received
or receivable, and represents amounts receivable for goods
supplied, stated net of discounts, returns and value added taxes.
The Group recognizes revenue to depict the transfer of control to
customers in an amount that reflects the consideration to which
the entity expects to be entitled in exchange for goods or services.
(a) Revenue from sales of goods is recognized when control
over such products is transferred, being when the products
are delivered or shipped, the customer has accepted the
products and there is no unfulfilled obligation that could
affect the customers’ acceptance of the products. Delivery
occurs when the products have been shipped to the
specified location and the risk of obsolescence and loss
have been transferred to the customers.
A receivable is recognized when the goods are delivered
as this is the point in time that the consideration is
unconditional because only the passage of time is required
before the payment is due.
2 编制基准及重大会计政策（续）
2.22 拨备
当本集团因过往事件而承担现有法律或
推定责任，而解除责任有可能导致资源
流出，且金额能可靠估计，便会就法律
索偿确认拨备。本公司不会就未来经营
亏损确认拨备。
倘出现多项类似责任，则需要从整体角
度考虑责任之类别，以决定在偿付时流
出资源的可能性。即使在同一责任类别
所包含之任何一个项目相关的资源流出
可能性极低，仍须确认拨备。
拨备按管理层对于报告期结算日预期偿
付现有责任所需的支出的最佳估计的现
值计量。用于厘定现值的贴现率为反映
当时市场对货币时间价值及负债特定风
险的评估的税前利率。随时间流逝而增
加的拨备确认为利息开支。
2.23 收益确认
收益按已收或应收之代价公平值计量，
其为已提供货品之应收款项，所列示收
益已扣除折扣、退货及增值税。本集团
按能反映实体预期就交换货品或服务而
有权获得之代价金额确认收益，以说明
控制权已转交客户。
(a) 销售货品之收益乃于有关货品之
控制权转移时（即有关货品已交
付或付运，而客户已接纳有关货
品，且并无有可能影响客户接纳
有关货品之未履约义务时）确认。
当有关货品付运至指定地点，
且陈旧及损失风险已转移至客户
时，则落实交付。
应收款项于交付货品时确认，原
因为从那一刻开始，付款成为到
期应付仅须待时间的流逝，收取
代价成为无条件。
Mobicon Group Limited – Annual Report 2024/2025
For the year ended 31st March 2025 截至二零二五年三月三十一日止年度
Notes to the Consolidated Financial Statements
综合财务报表附注
2 Basis of Preparation and Material
Accounting Policies(continued)
2.23 Revenue recognition (continued)
(a) (continued)
A contract liability is recognized when the Group has
received deposits from the customers. The Group records
these as other payables and accruals in advance in
the liabilities section of the consolidated statement of
financial position. Such contract liability is recognized as
revenue when such goods are delivered to customers.
(b) Interest income is recognized using the effective interest
method. When a receivable is impaired, the Group reduces
the carrying amount to its recoverable amount, being the
estimated future cash flow discounted at the original
effective interest rate of the instrument, and continues
unwinding the discount as interest income. Interest income
on impaired receivables is recognized using the original
effective interest rate.
(c) Service income, management fee and commission income
are recognized over time based on the actual service
provided to the end of the reporting period as a proportion
of the total services to be provided because the customer
receives and uses the benefits simultaneously.
(d) Rental income is recognized on a straight-line basis over
the lease term.
2 编制基准及重大会计政策（续）
2.23 收益确认（续）
(a) （续）
当本集团从客户收取按金后，便
会确认合约负债。本集团会于综
合财务状况表负债部分入账有关
款项为其他应付款项及应计费
用。有关合约负债会于相关货品
交付客户后确认为收益。
(b) 利息收入采用实际利息法确认。
当应收款项出现减值，本集团会
将账面值减至其可收回金额，可
收回金额为按工具原本实际利率
贴现之估计日后现金流量，而贴
现额持续拨作利息收入。已减值
应收款项之利息收入按原本实际
利率确认。
(c) 服务收入、管理费及佣金收入随
时间确认，并以报告期结算日所
提供实际服务占将予提供全部服
务之比例为基准，原因为客户同
时获得及使用利益。
(d) 租金收入乃于租期内按直线法确
认。
万保刚集团有限公司 – 二零二四/二零二五年年报
For the year ended 31st March 2025 截至二零二五年三月三十一日止年度
Notes to the Consolidated Financial Statements
综合财务报表附注
2 Basis of Preparation and Material
Accounting Policies(continued)
2.24 Lease
Leases are recognized as a right-of-use asset and a corresponding
liability at the date at which the leased asset is available for use
by the Group.
Contracts may contain both lease and non-lease components. The
Group allocates the consideration in the contract to the lease and
non-lease components based on their relative stand-alone prices.
However, for leases of real estate for which the Group is a lessee,
it has elected not to separate lease and non-lease components and
instead accounts for these as a single lease component.
Assets and liabilities arising from a lease are initially measured
on a present value basis. Lease liabilities include the net present
value of the following lease payments:
- ,
less any lease incentives receivable
• variable lease payment that are based on an index or a
rate, initially measured using the index or rate as at the
commencement date
• amounts expected to be payable by the Group under
residual value guarantees
• the exercise price of a purchase option if the Group is
reasonably certain to exercise that option, and
- , if the
lease term reflects the Group exercising that option.
Lease payments to be made under reasonably certain extension
options are also included in the measurement of the liability.
The lease payments are discounted using the interest rate implicit
in the lease. If that rate cannot be readily determined, which is
generally the case for leases in the Group, the lessee’s incremental
borrowing rate is used, being the rate that the individual lessee
would have to pay to borrow the funds necessary to obtain an asset
of similar value to the right-of- use asset in a similar economic
environment with similar terms, security and conditions.
2 编制基准及重大会计政策（续）
2.24 租赁
在租赁资产可供本集团使用之日，本集
团会将租赁确认为使用权资产及相应负
债。
合约可能包含租赁及非租赁部分。本集
团根据租赁及非租赁部分之相对独立价
格，将合约代价分配至租赁及非租赁部
分。然而，就本集团作为承租人之房地
产租赁而言，本集团已选择不区分租赁
及非租赁部分，而是将该等部分作为单
一租赁部分入账。
租赁产生的资产及负债初步按现值基准
计量。租赁负债包括下列租赁款项之净
现值：
- （包括实质定额款项）减
去任何应收租赁优惠
• 基于指数或利率并于开始日期按
指数或利率初步计量的可变租赁
付款
• 预期本集团根据剩余价值担保须
予支付之金额
- （如合理确定
本集团将予行使该选择权），及
- （如租期反映
本集团行使有关选择权）。
根据合理确定扩大选择权作出的租赁付
款亦计入负债的计量。
租赁付款采用租赁所隐含的利率予以贴
现。倘无法厘定该利率（本集团的租赁一
般属此类情况），则使用承租人增量借款
利率，即个别承租人在类似经济环境中
按类似条款、抵押及条件借入获得与使
用权资产价值类似的资产所需资金必须
支付的利率。
Mobicon Group Limited – Annual Report 2024/2025
For the year ended 31st March 2025 截至二零二五年三月三十一日止年度
Notes to the Consolidated Financial Statements
综合财务报表附注
2 Basis of Preparation and Material
Accounting Policies(continued)
2.24 Lease (continued)
To determine the incremental borrowing rate, the Group:
- , uses recent third-party financing received
by the individual lessee as a starting point, adjusted to
reflect changes in financing conditions since third party
financing was received
• uses a build-up approach that starts with a risk-free
interest rate adjusted for credit risk for leases held by
the Company, which does not have recent third-party
financing, and
- , e.g. term,
country, currency and security.
If a readily observable amortizing loan rate is available to the
individual lessee (through recent financing or market data) which
has a similar payment profile to the lease, then the group entities
use that rate as a starting point to determine the incremental
borrowing rate.
The Group is exposed to potential future increases in variable
lease payments based on an index or rate, which are not included
in the lease liability until they take effect. When adjustments to
lease payments based on an index or rate take effect, the lease
liability is reassessed and adjusted against the right-of-use asset.
Lease payments are allocated between principal and finance
cost. The finance cost is charged to profit or loss over the lease
period so as to produce a constant periodic rate of interest on the
remaining balance of the liability for each period.
Right-of-use assets are measured at cost comprising the following:
• the amount of the initial measurement of lease liability
• any lease payments made at or before the commencement
date less any lease incentives received
- , and
• restoration costs.
2 编制基准及重大会计政策（续）
2.24 租赁（续）
为厘定增量借贷利率，本集团：
- ，使用个别承租人
最近获得的第三方融资为出发点
作出调整以反映自获得第三方融
资以来融资条件的变动
- ，首先就本公司所持
有租赁的信贷风险（最近并无第三
方融资）调整无风险利率，及
- ，例如期
限、国家、货币及抵押。
倘个别承租人可以使用易于获得的摊
销贷款利率（通过最近的融资或市场数
据），且其付款情况与租赁类似，则集团
实体将以该利率作为出发点来确定增量
借贷利率。
本集团未来可能根据指数或利率增加可
变租赁付款额，而有关指数或利率在生
效前不会计入租赁负债。当根据指数或
利率对租赁付款作出的调整生效时，租
赁负债会根据使用权资产进行重新评估
及调整。
租赁付款于本金及财务成本之间作出分
配。财务成本在租赁期间于损益扣除，
借以令各期间的负债余额的期间利率一
致。
使用权资产按成本计量，包括以下各项：
• 租赁负债的初始计量金额
• 于开始日期或之前做出的任何租
赁付款减已收取任何租赁优惠
- ，及
- 。
万保刚集团有限公司 – 二零二四/二零二五年年报
For the year ended 31st March 2025 截至二零二五年三月三十一日止年度
Notes to the Consolidated Financial Statements
综合财务报表附注
2 Basis of Preparation and Material
Accounting Policies(continued)
2.24 Lease (continued)
Right-of-use assets are generally depreciated over the shorter of
the asset’s useful life and the lease term on a straight-line basis.
If the Group is reasonably certain to exercise a purchase option,
the right-of-use asset is depreciated over the underlying asset’s
useful life. While the Group revalues its land and buildings that are
presented within property, plant and equipment, it has chosen not
to do so for the right-of-use buildings held by the Group.
Payments associated with short-term leases of equipment and
vehicles and all leases of low-value assets are recognized on
a straight-line basis as an expense in profit or loss. Short-term
leases are leases with a lease term of 12 months or less without
a purchase option. Low-value assets comprise IT equipment and
small items of office furniture.
Lease income from operating leases where the Group is a lessor is
recognized in income on a straight-line basis over the lease term
(Note 27). Initial direct costs incurred in obtaining an operating
lease are added to the carrying amount of the underlying asset
and recognized as expense over the lease term on the same basis
as lease income. The respective leased assets are included in the
balance sheet based on their nature. The Group did not need to
make any adjustments to the accounting for assets held as lessor
as a result of adopting the new leasing standard.
2.25 Dividend distribution
Dividend distribution to the Company’s shareholders is recognized
as a liability in the Group’s and the Company’s financial
statements in the period in which the dividends are approved by
the Company’s shareholders or directors, where appropriate.
2 编制基准及重大会计政策（续）
2.24 租赁（续）
使用权资产一般于资产的可使用年期及
租赁期（以较短者为准）内按直线法予以
折旧。倘本集团合理确定行使购买选择
权，则使用权资产于相关资产的可使用
年期内予以折旧。本集团在对其土地及
楼宇（于物业、厂房及设备内呈列）重新
估值时，已选择不就本集团所持有的使
用权楼宇行使有关权利。
与设备及车辆短期租赁相关的付款及所
有低价值资产的租赁以直线法于损益中
确认为开支。短期租赁指租赁期限为12个
月或以下且不附带购买选择权的租赁。
低价值资产包括资讯科技设备及小型办
公家具。
本集团作为出租人的经营租赁的租赁收
入按直线法于租期内在收入确认（附注
27）。获取经营租赁产生的初始直接成本
计入相关资产的账面值，并于租期内以
确认租赁收入的相同基准确认为开支。
个别租赁资产按其性质计入资产负债
表。采纳新租赁准则后，本集团无需对
作为出租人所持有资产的会计处理作任
何调整。
2.25 股息分派
向本公司股东作出的股息分派于本公司
股东或董事（视何者适用）批准股息期间
在本集团及本公司财务报表确认为负债。
Mobicon Group Limited – Annual Report 2024/2025
For the year ended 31st March 2025 截至二零二五年三月三十一日止年度
Notes to the Consolidated Financial Statements
综合财务报表附注
2 Basis of Preparation and Material
Accounting Policies(continued)
2.26 Government grants
Grants from the government are recognized at their fair value
where there is a reasonable assurance that the grants will be
received and the Group will comply with all attached conditions.
Government grants relating to costs are deferred and recognized
in the income statement over the period necessary to match them
with the costs that they are intended to compensate.
2.27 Related parties
(a) A person, or a close member of that person’s family, is
related to the Group if that person:
(i) has control or joint control over the Group;
(ii) has significant influence over the Group; or
(iii) is a member of the key management personnel of
the Group or the Group’s parent.
(b) the party is an entity where any of the following conditions
applies:
(i) the entity and the Group are members of the same
group;
(ii) one entity is an associate or joint venture of the
other entity (or of a parent, subsidiary or fellow
subsidiary of the other entity);
(iii) the entity and the Group are joint ventures of the
same third party;
2 编制基准及重大会计政策（续）
2.26 政府补助
倘可合理地保证将会收到补贴及本集团
将符合所有附带条件，则政府补贴按公
平值确认。
有关成本的政府补贴将予递延，并于将
有关补贴与其拟定补偿的成本配对所需
的期间内于收益表中确认。
2.27 关联人士
(a) 某人士或其近亲家庭成员为与本
集团有关联，如该人士：
(i) 拥有本集团之控制权或共
同控制权；
(ii) 对本集团有重大影响力；
或
(iii) 为本集团或本集团母公司
之主要管理人员。
(b) 如有关方为一间实体且符合下列
任何一项条件：
(i) 该实体与本集团属同一集
团之成员公司；
(ii) 一家实体为另一实体的联
营公司或合营公司（或另
一实体的母公司、附属公
司或同系附属公司）；
(iii) 该实体及本集团均为同一
第三方的合营公司；
万保刚集团有限公司 – 二零二四/二零二五年年报
For the year ended 31st March 2025 截至二零二五年三月三十一日止年度
Notes to the Consolidated Financial Statements
综合财务报表附注
2 Basis of Preparation and Material
Accounting Policies(continued)
2.27 Related parties (continued)
(b) (continued)
(iv) one entity is a joint venture of a third entity and the
other entity is an associate of the third entity;
(v) the entity is a post-employment benefit plan for
the benefit of employees of either the Group or an
entity related to the Group;
(vi) the entity is controlled or jointly controlled by a
person identified in (a);
(vii) a person identified in (a)(i) has significant
influence over the entity or is a member of the key
management personnel of the entity (or of a parent
of the entity); and
(viii) the entity, or any member of a group of which it is a
part, provides key management personnel services
to the Group or to the parent of the Group.
Close members of the family of a person are those family members
who may be expected to influence, or be influenced by, that person
in their dealings with the entity.
2 编制基准及重大会计政策（续）
2.27 关联人士（续）
(b) （续）
(iv) 一家实体为第三方实体的
合营公司，而另一实体为
该第三方实体的联营公
司；
(v) 该实体为本集团或一家与
本集团有关之实体就雇员
的福利而设的离职后福利
计划；
(vi) 该实体受(a)所述人士控制
或受共同控制；
(vii) 于(a)(i)所述人士对实体有
重大影响或属该实体（或
该实体母公司）主要管理
人员的其中一名成员；及
(viii) 向本集团或向本集团之母
公司提供主要管理人员服
务之实体或其所属集团之
任何成员公司。
某人士之近亲家庭成员指预期可影响该
人士与该实体交易之家庭成员，或受该
人士与该实体交易影响之家庭成员。
Mobicon Group Limited – Annual Report 2024/2025
For the year ended 31st March 2025 截至二零二五年三月三十一日止年度
Notes to the Consolidated Financial Statements
综合财务报表附注
3 Financial Risk Management
3.1 Financial risk factors
The Group’s activities expose it to a variety of financial risks:
market risk (including foreign currency risk, fair value interest rate
risk, cash flow interest rate risk and price risk), credit risk and
liquidity risk. The Group’s overall risk management programme
focuses on the unpredictability of financial markets and seeks
to minimize potential adverse effects on the Group’s financial
performance.
Risk management is carried out by a central treasury department
(group treasury) under policies approved by the Board. The Group’s
treasury identifies, evaluates and hedges financial risks in close
co-operation with the Group’s operating units. The Board provides
written principles for overall risk management, as well as written
policies covering specific areas, such as foreign exchange risk,
interest rate risk, credit risk, use of derivative financial instruments
and non-derivative financial instruments, and investment of excess
liquidity.
(a) Market risk
(i) Foreign exchange risk
The Group operates mainly in Hong Kong, Mainland China, South
Africa, Portugal, Malaysia, Singapore and Taiwan and is exposed
to foreign exchange risk arising from various currency exposures,
primarily with respect to United States dollars (“USD”). Foreign
exchange risk arises from future commercial transactions,
recognized assets and liabilities and net investments in foreign
operations.
The directors of the Company consider that the foreign exchange
risk is not significant and the Group currently does not have
a foreign currency hedging policy. However, the management
monitors foreign exchange risk exposure and will consider hedging
significant foreign exchange risk exposure should the need arise.
3 财务风险管理
3.1 财务风险因素
本集团之业务活动令本集团承受多种财
务风险：市场风险（包括外币风险、公平
值利率风险、现金流量利率风险及价格
风险）、信贷风险及流动资金风险。本集
团整体风险管理计划集中于金融市场之
不能预测特质，并致力尽量减低对本集
团财务表现之潜在不利影响。
风险管理由中央库务部（集团库务部）根
据董事会批准之政策进行。集团库务部
与本集团各个营运单位紧密合作，以识
别、评估及对冲财务风险。董事会提供
整体风险管理之书面原则，以及涵盖特
定范畴之书面政策，例如：汇兑风险、
利率风险、信贷风险、使用衍生金融工
具及非衍生金融工具，以及将剩余流动
资金作投资。
(a) 市场风险
(i) 汇兑风险
本集团主要于香港、中国内地、南非、
葡萄牙、马来西亚、新加坡及台湾经营
业务，因而面对来自不同货币之汇兑
风险，而汇兑风险主要来自美元（「美
元」）。汇兑风险因日后进行之商业交
易、已确认资产与负债以及海外业务投
资净额而产生。
本公司董事认为，汇兑风险并不重大，
故本集团目前并无外币对冲政策。然
而，管理层一直监察汇兑风险，并将于
有需要时考虑对冲重大汇兑风险。
万保刚集团有限公司 – 二零二四/二零二五年年报
For the year ended 31st March 2025 截至二零二五年三月三十一日止年度
Notes to the Consolidated Financial Statements
综合财务报表附注
3 Financial Risk Management (continued)
3.1 Financial risk factors (continued)
(a) Market risk (continued)
(i) Foreign exchange risk (continued)
The following table demonstrates the sensitivity at the reporting
date to a reasonably possible change in the USD exchange rates,
with all other variables held constant, of the Group’s profit (due to
changes in the fair value of monetary assets and liabilities).
3 财务风险管理（续）
3.1 财务风险因素（续）
(a) 市场风险（续）
(i) 汇兑风险（续）
下表显示于报告日期倘所有其他变数维
持不变，本集团溢利对美元汇率可能合
理变动之敏感度（因货币资产及负债公平
值变动）。
| Increase/ (decrease) in foreign currency rate | (Increase)/ decrease in loss and equity | ||
|---|---|---|---|
| 外币汇率 上升╱（下跌） | 亏损及权益 （增加）╱减少 | ||
| % | HK$’000 | ||
| 千港元 | |||
| 2025 | 二零二五年 | ||
| If Euro weakens against USD | 倘欧罗兑美元贬值 | 5% | (855) |
| If Euro strengthens against USD | 倘欧罗兑美元升值 | -5% | 855 |
| If Singapore dollar weakens against USD | 倘新加坡元兑美元贬值 | 5% | (217) |
| If Singapore dollar strengthens against USD | 倘新加坡元兑美元升值 | -5% | 217 |
| If South African Rand weakens against USD | 倘南非兰特兑美元贬值 | 5% | (305) |
| If South African Rand strengthens against USD | 倘南非兰特兑美元升值 | -5% | 305 |
| Increase/ (decrease) in foreign currency rate | Increase/ (decrease) in profit and equity | ||
|---|---|---|---|
| 外币汇率 上升╱（下跌） | 溢利及权益 增加╱（减少） | ||
| 2024 | 二零二四年 | ||
| If Euro weakens against USD | 倘欧罗兑美元贬值 | 5% | (855) |
| If Euro strengthens against USD | 倘欧罗兑美元升值 | -5% | 855 |
| If Singapore dollar weakens against USD | 倘新加坡元兑美元贬值 | 5% | (46) |
| If Singapore dollar strengthens against USD | 倘新加坡元兑美元升值 | -5% | 46 |
| If South African Rand weakens against USD | 倘南非兰特兑美元贬值 | 5% | (348) |
| If South African Rand strengthens against USD | 倘南非兰特兑美元升值 | -5% | 348 |
Mobicon Group Limited – Annual Report 2024/2025
For the year ended 31st March 2025 截至二零二五年三月三十一日止年度
Notes to the Consolidated Financial Statements
综合财务报表附注
3 Financial Risk Management (continued)
3.1 Financial risk factors (continued)
(a) Market risk (continued)
(i) Foreign exchange risk (continued)
Exposure
The Group’s exposure to foreign currency risk at the end of the
reporting period, expressed in Hong Kong dollar, was as follows:
(ii) Cash flow and fair value interest-rate risk
The Group’s exposure to changes in interest rates is mainly
attributable to its interest-bearing bank borrowings and lease
liabilities. Borrowings issued at variable rates expose the Group
to cash flow interest-rate risk. Borrowings issued at fixed-rates
and lease liabilities expose the Group to fair value interest
rate risk. Details of the Group’s interest-bearing borrowings
and lease liabilities have been disclosed in Note 23 and Note
14(b) to the consolidated financial statements respectively. The
Group currently does not have any interest rate hedging policies.
However, management monitors interest rate exposure and will
consider hedging significant interest rate exposure should the
need arise.
3 财务风险管理（续）
3.1 财务风险因素（续）
(a) 市场风险（续）
(i) 汇兑风险（续）
风险
本集团于报告期结算日面对的外币风险
敞口，以港元列示，列载如下：
(ii) 现金流量及公平值利率风险
本集团之利率变动风险主要源自其计息
银行借贷及租赁负债。按浮动利率授出
之借贷导致本集团须面对现金流量利率
风险。以固定利率发行之借贷及租赁负
债使本集团面临公平值利率风险。本集
团计息借贷及租赁负债之详情分别已于
综合财务报表附注23及附注14(b)披露。
本集团现时并无任何利率对冲政策。然
而，管理层一直监察利率风险，并会于
有需要时考虑对冲重大利率风险。
| 2025 | 2024 | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 二零二五年 | 二零二四年 | ||||||||||||
| RMB | USD | ZAR | SGD | EUR | Others | RMB | USD | ZAR | SGD | EUR | Others | ||
| 人民币 | 美元 | 南非兰特 | 新加玻元 | 欧罗 | 其他 | 人民币 | 美元 | 南非兰特 | 新加玻元 | 欧罗 | 其他 | ||
| HK$’000 | HK$’000 | HK$’000 | HK$’000 | HK$’000 | HK$’000 | HK$’000 | HK$’000 | HK$’000 | HK$’000 | HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | 千港元 | 千港元 | 千港元 | 千港元 | 千港元 | 千港元 | 千港元 | 千港元 | 千港元 | 千港元 | ||
| Trade receivables | 应收贸易账款 | 7,438 | – | 6,346 | 790 | 292 | 809 | 7,005 | – | 6,685 | 1,723 | 143 | 1,153 |
| Cash and bank balances | 现金及银行结余 | 481 | 4,779 | 5,190 | 1,758 | 138 | 3,215 | 1,306 | 5,080 | 6,459 | 452 | 116 | 3,543 |
| Trade payables | 应付贸易账款 | 438 | 748 | 4,170 | – | 1,537 | 172 | 236 | 58 | 2,710 | 77 | 1,050 | 292 |
| Bank borrowings | 银行借款 | – | – | 1,680 | – | 2,359 | – | – | – | 3,923 | – | 3,041 | – |
万保刚集团有限公司 – 二零二四/二零二五年年报
For the year ended 31st March 2025 截至二零二五年三月三十一日止年度
Notes to the Consolidated Financial Statements
综合财务报表附注
3 Financial Risk Management (continued)
3.1 Financial risk factors (continued)
(a) Market risk (continued)
(ii) Cash flow and fair value interest-rate risk (continued)
Interest expense on financial liability not measure at FVTPL:
The following table demonstrates the sensitivity to a reasonably
possible change in interest rates, with all other variables held
constant, of the Group’s profit (through the impact on floating rate
borrowings) and the Group’s equity.
3 财务风险管理（续）
3.1 财务风险因素（续）
(a) 市场风险（续）
(ii) 现金流量及公平值利率风险（续）
不按公平值计入损益计量的金融负债的
利息开支：
下表显示倘所有其他变数维持不变，本
集团溢利（透过对浮息借贷之影响）及本
集团权益对利率可能出现合理变动的敏
感度。
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| Financial liabilities at amortized cost | 按摊销成本计量的金融负债 | 2,753 | 3,870 |
| Increase/ (decrease) in foreign currency rate | (Increase)/ decrease in loss and equity | ||
|---|---|---|---|
| 外币汇率 上升╱（下跌） | 亏损及权益 （增加）╱减少 | ||
| % | HK$’000 | ||
| 千港元 | |||
| 2025 | 二零二五年 | ||
| Floating rate borrowings | 浮息借贷 | 50 | (129) |
| Floating rate borrowings | 浮 息借贷 | (50) | 129 |
| Increase/ (decrease) in foreign currency rate | Increase/ (decrease) in profit and equity | ||
|---|---|---|---|
| 外币汇率 上升╱（下跌） | 溢利及权益 增加╱（减少） | ||
| 2024 | 二零二四年 | ||
| Floating rate borrowings | 浮息借贷 | 50 | (109) |
| Floating rate borrowings | 浮息借贷 | (50) | 109 |
Mobicon Group Limited – Annual Report 2024/2025
For the year ended 31st March 2025 截至二零二五年三月三十一日止年度
Notes to the Consolidated Financial Statements
综合财务报表附注
3 Financial Risk Management (continued)
3.1 Financial risk factors (continued)
(b) Credit risk
The Group is exposed to credit risk in relation to its financial assets
at trade receivables, other receivables and deposits, and cash and
bank balances. The carrying amounts of trade receivables, other
receivables and deposits, and cash and bank balances represent
the Group’s maximum exposure to credit risk in relation to financial
assets.
The Group expects that there is no significant credit risk associated
with cash deposits at banks since they are substantially deposited
at medium or large-sized listed banks. Management does
not expect that there will be any significant losses from non-
performance by these counterparties. The existing counterparties
do not have default in the past. Therefore, the identified
impairment loss was immaterial.
The Group applies the simplified approach to provide for expected
credit losses prescribed by HKFRS 9, which permits the use of
the lifetime expected credit loss provision for impairment of
all trade receivables. To measure the expected credit losses,
trade receivables have been grouped based on shared credit
risk characteristics. The Group has performed historical analysis
and identified the key economic variables impacting credit risk
and expected credit loss. It considers available reasonable and
supportive forward-looking information.
To measure the expected credit losses, trade receivables have
been grouped based on nature of customer accounts and shared
credit risk characteristics and the days past due.
3 财务风险管理（续）
3.1 财务风险因素（续）
(b) 信贷风险
本集团之应收贸易账款、其他应收款项
及按金，以及现金及银行结余令本集团
面临金融资产信贷风险。应收贸易账
款、其他应收款项及按金以及现金及银
行结余之账面值为本集团就金融资产承
受之最大信贷风险。
本集团预期与银行现金存款相关之信贷
风险并不重大，原因为有关存款大部分
存放于中大型上市银行。管理层预期，
不会产生因对手方违约而导致之任何重
大损失。现有对手方过往并无拖欠纪
录。因此，已确定之减值亏损并不重大。
本集团应用香港财务报告准则第9号所订
明之简化处理方法就预期信贷亏损作出
拨备，该规定允许对所有应收贸易账款
采用全期预期信贷亏损作出减值拨备。
为计量预期信贷亏损，已根据共通信贷
风险特征将应收贸易账款分组。本集团
已进行历史分析，并识别出影响信贷风
险及预期信贷亏损之主要经济变数，并
考虑可得的合理及有理据的前瞻性资料。
为计量预期信贷亏损，应收贸易账款已
根据客户账目性质及共通信贷风险特征
以及逾期日数分组。
万保刚集团有限公司 – 二零二四/二零二五年年报
For the year ended 31st March 2025 截至二零二五年三月三十一日止年度
Notes to the Consolidated Financial Statements
综合财务报表附注
3 Financial Risk Management (continued)
3.1 Financial risk factors (continued)
(b) Credit risk (continued)
On that basis, the loss allowance as at 31st March 2025 and 2024
was determined as follows for trade receivables:
3 财务风险管理（续）
3.1 财务风险因素（续）
(b) 信贷风险（续）
根据该基准，于二零二五年及二零二四年
三月三十一日之应收贸易账款亏损拨备
厘定如下：
二零二五年
二零二四年
| Lifetime expected loss rate | Gross carrying amount | Lifetime expected credit loss | Net carrying amount | ||
|---|---|---|---|---|---|
| 全期预期 亏损率 | 账面总值 | 全期预期 信贷亏损 | 账面净值 | ||
| % | HK$’000 | HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | 千港元 | |||
| Collective assessment (based on due dates) | 集体评估（按到期日） | ||||
| 0-30 days | 零至30日 | 0.9% | 21,226 | (189) | 21,037 |
| 31-60 days | 31至60日 | 1.9% | 2,046 | (38) | 2,008 |
| 61-90 days | 61至90日 | 2.7% | 1,641 | (45) | 1,596 |
| 91-120 days | 91至120日 | 100% | 832 | (832) | – |
| 121-180 days | 121至180日 | 100% | 75 | (75) | – |
| 181-365 days | 1 81至365日 | 100% | 719 | (719) | – |
| 26,539 | (1,898) | 24,641 | |||
| Lifetime expected loss rate | Gross carrying amount | Lifetime expected credit loss | Net carrying amount | ||
|---|---|---|---|---|---|
| 全期预期 亏损率 | 账面总值 | 全期预期 信贷亏损 | 账面净值 | ||
| % | HK$’000 | HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | 千港元 | |||
| Collective assessment (based on due dates) | 集体评估（按到期日） | ||||
| 0-30 days | 零至30日 | 0.1% | 22,972 | (31) | 22,941 |
| 31-60 days | 31至60日 | 1.3% | 2,519 | (33) | 2,486 |
| 61-90 days | 61至90日 | 1.3% | 1,892 | (24) | 1,868 |
| 91-120 days | 91至120日 | 100% | 523 | (523) | – |
| 121-180 days | 121至180日 | 100% | 655 | (655) | – |
| 181-365 days | 1 81至365日 | 100% | 479 | (479) | – |
| 29,040 | (1,745) | 27,295 | |||
Mobicon Group Limited – Annual Report 2024/2025
For the year ended 31st March 2025 截至二零二五年三月三十一日止年度
Notes to the Consolidated Financial Statements
综合财务报表附注
3 Financial Risk Management (continued)
3.1 Financial risk factors (continued)
(b) Credit risk (continued)
Trade receivables are written off when there is no reasonable
expectation of recovery. Indicators that there is no reasonable
expectation of recovery include, amongst others, the failure of a
debtor to engage in a repayment plan with the Group, and a failure
to make contractual payments.
The loss allowances for trade receivables as at 31st March 2025
and 2024 reconcile to the opening loss allowance as follows:
3 财务风险管理（续）
3.1 财务风险因素（续）
(b) 信贷风险（续）
应收贸易账款会在没有收回之合理期望
时予以撇销。没有收回之合理期望之指
标包括（其中包括）欠债人未能与本集团
达成还款计划及未能作出合约付款。
于二零二五年及二零二四年三月三十一
日之应收贸易账款亏损拨备与年初亏损
拨备之对账如下：
| Trade receivables | ||
|---|---|---|
| 应收贸易账款 | ||
| 2025 | ||
| 二零二五年 | ||
| HK$’000 | ||
| 千港元 | ||
| At 1st April 2024 | 于二零二四年四月一日 | 1,745 |
| Provision | 拨备 | 406 |
| Reversal | 拨回 | (246) |
| Exchange differences | 汇兑差额 | (7) |
| At 31st March 2025 | 于二零二五年三月三十一日 | 1,898 |
万保刚集团有限公司 – 二零二四/二零二五年年报
For the year ended 31st March 2025 截至二零二五年三月三十一日止年度
Notes to the Consolidated Financial Statements
综合财务报表附注
3 Financial Risk Management (continued)
3.1 Financial risk factors (continued)
(b) Credit risk (continued)
As at 31st March 2025 and 2024, the Group has assessed that
the expected loss rate for other receivables and deposits was
immaterial. Thus, no loss allowance for other receivables and
deposits was recognized.
(c) Liquidity risk
Ultimate responsibility for liquidity risk management rests with the
Board, which has built an appropriate liquidity risk management
framework for the management of the Group’s short, medium and
long-term funding and liquidity management requirements. The
Group manages liquidity risk by maintaining adequate reserves
and borrowing facilities, by continuously monitoring forecast and
actual cash flows and matching the maturity profiles of financial
assets and liabilities.
3 财务风险管理（续）
3.1 财务风险因素（续）
(b) 信贷风险（续）
于二零二五年及二零二四年三月三十一
日，本集团评定其他应收款项及按金之
预期亏损率并不重大。因此，并无就其
他应收款项及按金确认亏损拨备。
(c) 流动资金风险
董事会须承担流动资金风险管理之最终
责任，并已制定适当流动资金风险管理
结构，以管理本集团之短期、中期及长
期资金及流动资金管理需要。本集团透
过保持充足储备及预留借贷融资、持续
监察预测及实际现金流量以及因应金融
资产及负债的到期情况，管理流动资金
风险。
| Trade receivables | ||
|---|---|---|
| 应收贸易账款 | ||
| 2024 | ||
| 二零二四年 | ||
| HK$’000 | ||
| 千港元 | ||
| At 1st April 2023 | 于二零二三年四月一日 | 1,908 |
| Provision | 拨备 | 781 |
| Reversal | 拨回 | (867) |
| Exchange differences | 汇兑差额 | (77) |
| At 31st March 2024 | 于二零二四年三月三十一日 | 1,745 |
Mobicon Group Limited – Annual Report 2024/2025
For the year ended 31st March 2025 截至二零二五年三月三十一日止年度
Notes to the Consolidated Financial Statements
综合财务报表附注
3 Financial Risk Management (continued)
3.1 Financial risk factors (continued)
(c) Liquidity risk (continued)
The maturity profile of the Group’s financial assets and liabilities
as at the reporting date, based on the contractual undiscounted
payments, was as follows:
3 财务风险管理（续）
3.1 财务风险因素（续）
(c) 流动资金风险（续）
本集团金融资产及负债于报告日期按合
约未贴现款额计算之到期情况如下：
| Weighted average interest rate | On demand or within 1 year | Between 1 and 2 years | Between 2 and 5 years | Over 5 years | Total undiscounted cash flow | Total carrying amount | ||
|---|---|---|---|---|---|---|---|---|
| 加权 平均利率 | 按要求 或一年内 | 一至二年 | 二至五年 | 超过五年 | 未贴现现金 流量总额 | 账面总值 | ||
| % | 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 | |||
| 2025 | 二零二五年 | |||||||
| Trade payables | 应付贸易账款 | 15,621 | – | – | – | 15,621 | 15,621 | |
| Other payables and accruals | 其他应付款项及应计费用 | 16,432 | 975 | – | – | 17,407 | 17,407 | |
| Loan from a shareholder | 股东贷款 | 39,820 | – | – | – | 39,820 | 39,820 | |
| Lease liabilities | 租赁负债 | 10.63 | 1,999 | 1,198 | 587 | – | 3,784 | 3,188 |
| Bank borrowings | 银行借贷 | 6.24 | 26,171 | – | – | – | 26,171 | 25,841 |
| 100,043 | 2,173 | 587 | – | 102,803 | 101,877 | |||
| 2024 | 二零二四年 | |||||||
| Trade payables | 应付贸易账款 | 15,203 | – | – | – | 15,203 | 15,203 | |
| Other payables and accruals | 其他应付款项及应计费用 | 16,078 | 2,598 | – | – | 18,676 | 18,676 | |
| Loan from a shareholder | 股东贷款 | 39,000 | – | – | – | 39,000 | 39,000 | |
| Lease liabilities | 租赁负债 | 6.74 | 4,232 | 1,144 | 676 | 8 | 6,060 | 5,101 |
| Bank borrowings | 银行借贷 | 7.27 | 23,411 | 1,546 | 1,223 | – | 26,180 | 25,788 |
| 97,924 | 5,288 | 1,899 | 8 | 105,119 | 103,768 | |||
万保刚集团有限公司 – 二零二四/二零二五年年报
For the year ended 31st March 2025 截至二零二五年三月三十一日止年度
Notes to the Consolidated Financial Statements
综合财务报表附注
3 Financial Risk Management (continued)
3.2 Capital risk management
The Group’s objectives when managing capital are to safeguard
the Group’s ability to continue as a going concern in order
to provide returns for shareholders and benefits for other
stakeholders and to maintain an optimal capital structure to reduce
the cost of capital.
In order to maintain or adjust the capital structure, the Group may
adjust the amount of dividends paid to shareholders, return capital
to shareholders or issue new shares or sell assets to reduce debt.
The Group monitors capital on the basis of the gearing ratio. This
ratio is calculated as net debt divided by total equity. Net debt is
calculated as total borrowings (including loan from a shareholder
and bank borrowings) less cash and bank balances.
The Group’s strategy remains unchanged and the gearing ratios at
31st March 2025 and 2024 were as follows:
3 财务风险管理（续）
3.2 资本风险管理
本集团管理资本之目标为保障本集团可
持续经营之能力，从而为股东提供回报
及为其他权益持有人缔造利益，以及保
持最佳资本结构以减低资金成本。
为维持或调整资本结构，本集团可调整
向股东派付之股息金额、向股东退还资
本或发行新股或出售资产减债。
本集团按资产负债比率监察资本。此比
率乃按债务净额除以权益总额计算。债
务净额乃按借贷总额（包括股东贷款及银
行借贷）减现金及银行结余计算。
本集团之策略维持不变。于二零二五年
及二零二四年三月三十一日之资产负债
比率如下：
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| Total borrowings | 借贷总额 | 65,661 | 64,788 |
| Less: Cash and bank balances | 减：现金及银行结余 | (25,935) | (23,658) |
| Net debt | 债务净额 | 39,726 | 41,130 |
| Total equity | 权益总额 | 159,140 | 166,648 |
| Gearing ratio | 资产负债比率 | 25.0% | 24.7% |
Mobicon Group Limited – Annual Report 2024/2025
For the year ended 31st March 2025 截至二零二五年三月三十一日止年度
Notes to the Consolidated Financial Statements
综合财务报表附注
3 Financial Risk Management (continued)
3.3 Fair value estimation
The table below analyzes financial instruments carried at fair
value, by valuation method. The different levels have been defined
as follows:
• Quoted prices (unadjusted) in active markets for identical
assets or liabilities (level 1).
• Inputs other than quoted prices included within level 1
that are observable for the asset or liability, either directly
(that is, as prices) or indirectly (that is, derived from prices)
(level 2).
• Inputs for the asset or liability that are not based on
observable market data (that is, unobservable input) (level
3).
At 31st March 2025 and 2024, the Group did not have any financial
assets and liabilities that are measured at the above fair value
measurements hierarchy.
There were no significant transfers of financial assets between
Levels 1, 2 and 3 during the year.
3.4 Financial instruments by category
The carrying amounts of each of the categories of financial
instruments at the reporting date are as follows:
3 财务风险管理（续）
3.3 公平值估计
下表按估值方法分析以公平值列账之金
融工具。各等级界定如下：
• 相同资产或负债在活跃市场之报
价（未经调整）（第一级）。
- ，可直接
（即按价格）或间接（即由价格衍
生）观察所得之资产或负债输入值
（第二级）。
• 并非依据观察所得市场数据之资
产或负债输入值（即非观察所得输
入值）（第三级）。
于二零二五年及二零二四年三月三十一
日，本集团并无任何按上述公平值计量
级别计量之金融资产及负债。
年内，第一级、第二级及第三级之间并
无任何重大金融资产转移。
3.4 按类别划分之金融工具
于报告日期，各金融工具类别之账面值
如下：
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| Financial assets | 金融资产 | ||
| Financial assets at amortized cost | 按摊销成本计量之金融资产 | ||
| – Trade receivables | －应收贸易账款 | 24,641 | 27,295 |
| – Other receivables and deposits | －其他应收款项及按金 | 3,425 | 3,171 |
| – Cash and bank balances | －现金及银行结余 | 25,935 | 23,658 |
| Financial liabilities | 金融负债 | ||
| Liabilities at amortized cost | 按摊销成本计量之负债 | ||
| – Trade payables | －应付贸易账款 | 15,621 | 15,203 |
| – Other payables and accruals | －其他应付款项及应计费用 | 17,407 | 18,676 |
| – Loan from a shareholder | －股东贷款 | 39,820 | 39,000 |
| – Lease liabilities | －租赁负债 | 3,188 | 5,101 |
| – Bank borrowings | －银行借贷 | 25,841 | 25,788 |
万保刚集团有限公司 – 二零二四/二零二五年年报
For the year ended 31st March 2025 截至二零二五年三月三十一日止年度
Notes to the Consolidated Financial Statements
综合财务报表附注
4 Critical Accounting Estimates and
Judgments
Estimates and judgments are continually evaluated and are based
on historical experience and other factors, including expectations
of future events that are believed to be reasonable under the
circumstances.
The Group makes estimates and assumptions concerning the
future. The resulting accounting estimates will, by definition,
seldom equal the related actual results. The estimates and
assumptions that have a significant risk of causing a material
adjustment to the carrying amounts of assets and liabilities within
the next financial year are addressed below.
(a) Net realizable value of inventories
Net realizable value of inventories is the estimated selling price
in the ordinary course of business, less the estimated costs of
completion and the estimated costs necessary to make the sale.
These estimates are based on the current market condition and the
historical experience of selling products of similar nature. It could
change significantly as a result of changes in customer demand
and competitor actions. Management reassesses these estimates
at the end of each reporting date.
(b) Impairment of receivables
The provision of impairment for financial assets are based on
assumptions about risk of default and expected loss rates. The
Group uses significant judgment in making these assumptions
and selecting the inputs to the impairment calculation based on
the Group’s past history, existing market conditions as well as
forward-looking estimates at the end of each reporting period.
Details of the key assumption and inputs used are disclosed in
Note 3.1(b).
4 重大会计估计及判断
本集团持续按过往经验及其他因素，包
括于有关情况下相信是对日后事项的合
理预期，评核估计及判断。
本集团就未来作出估计及假设。顾名思
义，所作出之会计估计大多有别于相关
实际结果。下文讨论很大可能会导致下
一个财政年度之资产及负债账面值须作
出重大调整之估计及假设。
(a) 存货之可变现净值
存货之可变现净值为日常业务过程中估
计售价减去完成之估计成本及就销售而
言属必要之估计成本后之款项。该等估
计乃根据现行市况及类似性质产品之过
往销售经验作出。客户需求变动及竞争
对手之行动均会令有关估计产生重大变
动。管理层于各报告期间结算日重新评
估该等估计。
(b) 应收款项之减值
金融资产减值拨备乃根据违约风险之假
设及预期亏损率而厘定。在作出该等假
设及选取计算减值之输入数据时，本集
团须使用重大判断，有关判断乃基于本
集团的过往历史、现行市场情况以及于
各个报告期间结算日的前瞻性估算而作
出。所使用之关键假设及输入数据之详
情于附注3.1(b)披露。
Mobicon Group Limited – Annual Report 2024/2025
For the year ended 31st March 2025 截至二零二五年三月三十一日止年度
Notes to the Consolidated Financial Statements
综合财务报表附注
4 Critical Accounting Estimates and
Judgements (continued)
(c) Income tax
The Group is subject to income taxes in numerous jurisdictions.
Significant judgement is required in determining the amount of
the provision for income taxes. There are certain transactions and
calculations for which the ultimate tax determination is uncertain
during the ordinary course of business. Where the final tax
outcome of these matters is different from the amounts that were
initially recorded, such differences will impact the current income
tax and deferred income tax provisions in the period in which such
determination is made.
(d) Fair value measurements and valuation processes
Some of the Group’s leasehold properties and investment
properties are measured at fair value for financial reporting
purposes. The board of directors of the Company have to determine
the appropriate valuation techniques and inputs for fair value
measurement.
In estimating the fair value of certain leasehold properties and
investment properties, the Group uses market-observable data to
the extent it is available. Where Level 1 inputs are not available,
the Group engages independent qualified valuer to perform the
valuation. At the end of each reporting period, the management of
the Group works closely with the independent qualified valuer to
establish the appropriate valuation techniques and inputs for Level
2 fair value measurement. The Group will first consider and adopt
Level 2 inputs where inputs can be derived from observable quoted
prices in the active market. Where there is a material change in
the fair value of the assets, the causes of the fluctuations will be
reported to the board of directors of the Company. Information
about the valuation techniques and inputs used in determining
the fair value of the Group’s certain leasehold properties and
investment properties are disclosed in Note 14(a) and Note 15
respectively.
4 重大会计估计及判断（续）
(c) 所得税
本集团须缴纳多个司法权区之所得税。
于厘定所得税拨备金额时，须作出重大
判断。于日常业务过程中，本集团无法
肯定若干交易及计算之最终税项。倘该
等事项之最终税项结果与初步记录之款
额不同，该等差额将对本集团厘定有关
税款之期间之即期所得税及递延所得税
拨备造成影响。
(d) 公平值计量及估值程序
为财务报告目的，本集团的部分租赁物
业和投资物业按公平值计量。本公司董
事会必须确定适当的估值技术及公平值
计量的输入数据。
在估算若干租赁物业和投资物业的公平
值时，本集团尽量使用可观察市场数
据。倘第一级输入数据不可用，本集
团会聘请独立合资格估值师进行估值。
于各报告期结算日，本集团管理层与独
立合资格估值师密切合作，为第二级公
平值计量确定适当的估值技术和输入数
据。本集团将首先考虑并采用第二级输
入数据，即输入数据可从活跃市场的可
观察报价中获得。当资产的公平值发生
重大变化时，将向本公司董事会报告波
动的原因。有关用于确定本集团若干租
赁物业和投资物业公平值的估值技术及
输入数据的资料，分别在附注14(a)及附注
15中披露。
万保刚集团有限公司 – 二零二四/二零二五年年报
For the year ended 31st March 2025 截至二零二五年三月三十一日止年度
Notes to the Consolidated Financial Statements
综合财务报表附注
5 Revenue and Segment Information
Revenue recognized during the year is as follows:
The chief operating decision-maker has been identified as the
executive directors of the Company (the “Executive Directors”). The
Executive Directors have reviewed the Group’s internal reports in
order to assess the performance and allocate resources; they have
also determined the operating segments based on these reports.
The Executive Directors have further considered the business
from product perspective and have assessed the performance of
three main business segments: (i) Electronic and Electrical Trading
Business – Distribution of electronic components, electrical
components and equipment; (ii) Computer Business – Retail sales
of computer products, mobile accessories, distribution of computer
products and provision of IT outsourcing and solution services; and
(iii) Cosmetic and Online Retail Business – Trading and retail and
distribution of cosmetic products through retail shops and online
channels.
The Executive Directors have assessed the performance of the
operating segments based on segment results before corporate
expenses and finance costs.
5 收益及分部资料
年内确认之收益如下：
本公司已确定本公司执行董事（「执行董
事」）为主要经营决策者。执行董事已审
阅本集团之内部报告，以评估表现及分
配资源；彼等亦已根据该等报告厘定经
营分部。执行董事已从产品角度进一步
考虑业务及已评估三个主要业务分部之
表现：(i)电子、电气元件买卖业务－分销
电子元件、电气元件及仪器；(ii)电脑业
务－电脑产品及手机配件零售业务、分
销电脑产品及提供资讯科技技术外包及
解决方案服务；及(iii)化妆品及网上零售
业务－透过零售店舖及网上渠道买卖、
零售及分销化妆品。
执行董事已根据扣除企业开支及融资成
本前之分部业绩评估经营分部之表现。
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| Revenue | 收益 | ||
| Sales of electronic components, electrical components and equipment | 销售电子元件、电气元件及 仪器 | 193,711 | 223,141 |
| Sales of computer products, mobile accessories and service income | 销售电脑产品、手机配件以及 服务收入 | 54,109 | 67,835 |
| Sales of cosmetic products | 销售化妆品 | 39,502 | 49,603 |
| 287,322 | 340,579 | ||
Mobicon Group Limited – Annual Report 2024/2025
For the year ended 31st March 2025 截至二零二五年三月三十一日止年度
Notes to the Consolidated Financial Statements
综合财务报表附注
5 Revenue and Segment Information
(continued)
The segment results for the year ended 31st March 2025 are as
follows:
5 收益及分部资料（续）
截至二零二五年三月三十一日止年度之
分部业绩如下：
| Electronic and Electrical Trading Business | Computer Business | Cosmetic and Online Retail Business | Total | ||
|---|---|---|---|---|---|
| 电子、电气 元件买卖 业务 | 电脑业务 | 化妆品及 网上零售 业务 | 总计 | ||
| HK$’000 | HK$’000 | HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | 千港元 | 千港元 | ||
| Revenue from external customers | 来自外界客户之收益 | 193,711 | 54,109 | 39,502 | 287,322 |
| Time of revenue recognition | 收益确认时间 | ||||
| – At a point in time | －于某一时点 | 193,711 | 52,933 | 39,502 | 286,146 |
| – Over time | －于一段时间内 | – | 1,176 | – | 1,176 |
| 193,711 | 54,109 | 39,502 | 287,322 | ||
| Segment results | 分部业绩 | (3,083) | (1,713) | (1,321) | (6,117) |
| Unallocated expenses | 未分配开支 | (5) | |||
| Finance costs | 融资成本 | (2,753) | |||
| Loss before income tax | 除所得税前亏损 | (8,875) | |||
| Income tax expense (Note 9) | 所 得税开支（附注9） | (1,605) | |||
| Loss for the year | 年内亏损 | (10,480) | |||
| Other segment items included in the consolidated statement of profit or loss are as follows: | 其他列入综合损益表之 分部项目如下： | ||||
| Amortization of intangible assets | 无形资产摊销 | 93 | – | – | 93 |
| Depreciation of property, plant and equipment | 物业、厂房及设备折旧 | 2,274 | 35 | 115 | 2,424 |
| Depreciation of right-of-use assets | 使用权资产折旧 | 2,536 | 1,241 | 396 | 4,173 |
| Gain on fair values changes of investment properties | 投资物业之公平值变动收益 | (116) | – | – | (116) |
| Gain on disposal of property, plant and equipment | 出售物业、厂房及设备之收益 | (162) | – | – | (162) |
| Provision for impairment of trade receivables | 应收贸易账款减值拨备 | 401 | 2 | 3 | 406 |
| Reversal of provision for impairment of trade receivables | 应收贸易账款减值拨备拨回 | (241) | (5) | – | (246) |
| Provision for impairment of slow-moving inventories | 滞销存货减值拨备 | 1,116 | 299 | 29 | 1,444 |
万保刚集团有限公司 – 二零二四/二零二五年年报
For the year ended 31st March 2025 截至二零二五年三月三十一日止年度
Notes to the Consolidated Financial Statements
综合财务报表附注
5 Revenue and Segment Information
(continued)
The segment results for the year ended 31st March 2024 are as
follows:
5 收益及分部资料（续）
截至二零二四年三月三十一日止年度之
分部业绩如下：
| Electronic and Electrical Trading Business | Computer Business | Cosmetic and Online Retail Business | Total | ||
|---|---|---|---|---|---|
| 电子、电气 元件买卖 业务 | 电脑业务 | 化妆品及 网上零售 业务 | 总计 | ||
| HK$’000 | HK$’000 | HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | 千港元 | 千港元 | ||
| Revenue from external customers | 来自外界客户之收益 | 223,141 | 67,835 | 49,603 | 340,579 |
| Time of revenue recognition | 收益确认时间 | ||||
| – At a point in time | －于某一时点 | 223,141 | 65,572 | 49,603 | 338,316 |
| – Over time | －于一段时间内 | – | 2,263 | – | 2,263 |
| 223,141 | 67,835 | 49,603 | 340,579 | ||
| Segment results | 分部业绩 | 10,069 | 144 | 63 | 10,276 |
| Unallocated expenses | 未分配开支 | (12) | |||
| Finance costs | 融资成本 | (3,870) | |||
| Profit before income tax | 除所得税前溢利 | 6,394 | |||
| Income tax expense (Note 9) | 所 得税开支（附注9） | (4,643) | |||
| Profit for the year | 年内溢利 | 1,751 | |||
| Other segment items included in the consolidated statement of profit or loss are as follows: | 其他列入综合损益表之 分部项目如下： | ||||
| Amortization of intangible assets | 无形资产摊销 | 62 | – | – | 62 |
| Depreciation of property, plant and equipment | 物业、厂房及设备折旧 | 2,132 | 45 | 160 | 2,337 |
| Depreciation of right-of-use assets | 使用权资产折旧 | 2,318 | 2,252 | 1,115 | 5,685 |
| Gain on fair values changes of investment properties | 投资物业之公平值变动之收益 | (58) | – | – | (58) |
| Gain on disposal of property, plant and equipment | 出售物业、厂房及设备之收益 | (26) | – | – | (26) |
| Provision for impairment of trade receivables | 应收贸易账款减值拨备 | 781 | – | – | 781 |
| Reversal of provision for impairment of trade receivables | 应收贸易账款减值拨备拨回 | (744) | (60) | (63) | (867) |
| (Reversal of)/provision for impairment of slow-moving inventories | 滞销存货减值（拨回）╱拨备 | (3,990) | (302) | 13 | (4,279) |
Mobicon Group Limited – Annual Report 2024/2025
For the year ended 31st March 2025 截至二零二五年三月三十一日止年度
Notes to the Consolidated Financial Statements
综合财务报表附注
5 Revenue and Segment Information
(continued)
Segment assets consist primarily of property, plant and equipment,
right-of-use assets, investment properties, intangible assets,
goodwill, inventories, trade and other receivables and cash
and bank balances. Unallocated assets comprise certain other
receivables.
Segment liabilities comprise operating liabilities. Unallocated
liabilities comprise items such as other payables and accruals.
Additions to non-current assets comprise additions to property,
plant and equipment, right-of-use assets and intangible assets.
The segment assets and liabilities as at 31st March 2025 and
additions to non-current assets for the year then ended are as
follows:
5 收益及分部资料（续）
分部资产主要包括物业、厂房及设备、
使用权资产、投资物业、无形资产、商
誉、存货、应收贸易账款及其他应收款
项以及现金及银行结余。未分配资产包
括若干其他应收款项。
分部负债包括经营负债。未分配负债包
括其他应付款项及应计费用等项目。
添置非流动资产包括添置物业、厂房及
设备、使用权资产及无形资产。
于二零二五年三月三十一日之分部资产
及负债以及截至该日止年度之非流动资
产添置如下：
| Electronic and Electrical Trading Business | Computer Business | Cosmetic and Online Retail Business | Unallocated | Total | ||
|---|---|---|---|---|---|---|
| 电子、电气 元件买卖 业务 | 电脑业务 | 化妆品及 网上零售 业务 | 未分配 | 总计 | ||
| HK$’000 | HK$’000 | HK$’000 | HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | 千港元 | 千港元 | 千港元 | ||
| Assets | 资产 | 230,973 | 17,221 | 14,109 | 824 | 263,127 |
| Liabilities | 负债 | 86,992 | 5,952 | 6,954 | 4,089 | 103,987 |
| Additions to non-current assets | 添置非流动资产 | 2,501 | 3 | 768 | – | 3,272 |
万保刚集团有限公司 – 二零二四/二零二五年年报
For the year ended 31st March 2025 截至二零二五年三月三十一日止年度
Notes to the Consolidated Financial Statements
综合财务报表附注
5 Revenue and Segment Information
(continued)
The segment assets and liabilities as at 31st March 2024 and
additions to non-current assets for the year then ended are as
follows:
The Group’s revenue is generated mainly within Hong Kong, Asia
Pacific, South Africa and Europe.
Revenue is allocated based on the country in which the customer is
located.
5 收益及分部资料（续）
于二零二四年三月三十一日之分部资产
及负债以及截至该日止年度之非流动资
产添置如下：
本集团之收益主要源自香港、亚太地
区、南非及欧洲。
收益按客户所在国家分配。
| Electronic and Electrical Trading Business | Computer Business | Cosmetic and Online Retail Business | Unallocated | Total | ||
|---|---|---|---|---|---|---|
| 电子、电气 元件买卖 业务 | 电脑业务 | 化妆品及 网上零售 业务 | 未分配 | 总计 | ||
| HK$’000 | HK$’000 | HK$’000 | HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | 千港元 | 千港元 | 千港元 | ||
| Assets | 资产 | 239,935 | 18,375 | 14,078 | 1,495 | 273,883 |
| Liabilities | 负债 | 91,211 | 5,999 | 5,937 | 4,088 | 107,235 |
| Additions to non-current assets | 添置非流动资产 | 3,609 | 1,209 | 47 | – | 4,865 |
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| Revenue | 收益 | ||
| Hong Kong (place of domicile) | 香港（注册营业地） | 125,775 | 153,179 |
| Asia Pacific | 亚太地区 | 48,632 | 59,697 |
| South Africa | 南非 | 103,923 | 119,448 |
| Europe | 欧洲 | 8,795 | 7,880 |
| Other countries | 其他国家 | 197 | 375 |
| 287,322 | 340,579 | ||
Mobicon Group Limited – Annual Report 2024/2025
For the year ended 31st March 2025 截至二零二五年三月三十一日止年度
Notes to the Consolidated Financial Statements
综合财务报表附注
5 Revenue and Segment Information
(continued)
Total assets are allocated based on where the assets are located.
Additions to non-current assets is allocated based on where the
assets are located.
The total of non-current assets other than financial instruments
located in Hong Kong, Asia Pacific, South Africa and Europe are
approximately HK$931,000, HK$10,574,000, HK$33,460,000 and
HK$11,290,000 respectively (2024: approximately HK$2,035,000,
HK$11,057,000, HK$33,938,000 and HK$11,805,000 respectively).
5 收益及分部资料（续）
资产总值按资产所在地分配。
非流动资产之添置按资产所在地分配。
位于香港、亚太地区、南非及欧洲之非
流动资产总值（金融工具除外）分别约为
931,000港元、10,574,000港元、33,460,000
港元及11,290,000港元（二零二四年：分
别约为2,035,000港元、11,057,000港元、
33,938,000港元及11,805,000港元）。
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| Total assets | 资产总值 | ||
| Hong Kong | 香港 | 87,927 | 94,189 |
| Asia Pacific | 亚太地区 | 35,301 | 37,431 |
| South Africa | 南非 | 115,103 | 117,060 |
| Europe | 欧洲 | 23,972 | 23,708 |
| 262,303 | 272,388 | ||
| Unallocated assets | 未分配资产 | 824 | 1,495 |
| 263,127 | 273,883 | ||
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| Additions to non-current assets | 添置非流动资产 | ||
| Hong Kong | 香港 | 829 | 1,517 |
| Asia Pacific | 亚太地区 | 11 | 8 |
| South Africa | 南非 | 2,432 | 3,340 |
| 3,272 | 4,865 | ||
万保刚集团有限公司 – 二零二四/二零二五年年报
For the year ended 31st March 2025 截至二零二五年三月三十一日止年度
Notes to the Consolidated Financial Statements
综合财务报表附注
5 Revenue and Segment Information
(continued)
Information about major customers
No customer accounted for 10% or more of the total revenue for
the years ended 31st March 2025 and 2024.
(a) Contract liabilities
The Group has recognized the following liabilities related to
contracts with customers:
Contract liabilities represent receipts in advance from customers
for goods that have not yet been delivered to the customers. As at
31st March 2025 and 2024, the contract liabilities mainly included
the receipts in advance from individual customers for sales of
electronic components, automation parts and equipment and sales
of computer products and mobile accessories after the end of
respective reporting period.
(b) Revenue recognized in relation to contract liabilities
Revenue of approximately HK$1,105,000 (2024: approximately
HK$1,023,000) is recognized in relation to carried forward contract
liabilities at the beginning of the reporting period.
All of the Group’s remaining performance obligations for contracts
with customers are for periods of one year or less. As permitted
under HKFRS 15, the transaction price allocated to these
unsatisfied contracts is not disclosed.
5 收益及分部资料（续）
关于主要客户的资料
截至二零二五年及二零二四年三月
三十一日止两个年度，概无客户占收益
总额10%或以上。
(a) 合约负债
本集团已确认下列与客户合约有关之负
债：
合约负债指就尚未交付予客户之货品预
收客户之款项。于二零二五年及二零
二四年三月三十一日，合约负债主要包
括于各报告期结算日后就销售电子元
件、自动化组件及仪器以及销售电脑产
品及手机配件预收独立客户之款项。
(b) 就合约负债确认之收益
就报告期初结转之合约负债确认之收
益约为1,105,000港元（二零二四年：约
1,023,000港元）。
本集团与客户订立的所有合约的余下履
约责任之期限均为一年或以下。按香港
财务报告准则第15号所允许，并无披露分
配予该等未履约合约之交易价格。
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| Contract liabilities related to sales of electronic components, electrical components and equipment | 与销售电子元件、 电气元件及仪器有关之 合约负债 | 498 | 776 |
| Contract liabilities related to sales of computer products, mobile accessories and service income | 与销售电脑产品、 手机配件及服务收入 有关之合约负债 | 601 | 330 |
| 1,099 | 1,106 |
Mobicon Group Limited – Annual Report 2024/2025
For the year ended 31st March 2025 截至二零二五年三月三十一日止年度
Notes to the Consolidated Financial Statements
综合财务报表附注
6 Other Income and Net Gains
Note: During the year ended 31st March 2025, the Group recognized government
grants of approximately HK$89,000 (2024: Nil) under the SME Export
Marketing Fund administered by the Hong Kong Special Administrative
Region Government.
Additionally, government subsidies of approximately HK$47,000 (2024:
approximately HK$142,000) were recognized in respect of a subsidiary
operating in another jurisdiction.
There are no unfulfilled conditions or contingencies relating to these
government grants.
6 其他收入及净收益
附注： 截至二零二五年三月三十一日止年度，
本集团根据香港特别行政区政府管理的
「中小企业市场推广基金」确认政府补助
约89,000港元（二零二四年：无）。
此外，就一间于其他司法权区营运的附
属公司确认约47,000港元（二零二四年：
约142,000港元）的政府补贴。
该等政府补助并无任何未达成的条件或
或然事项。
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| Management fee income | 管理费收入 | 445 | 642 |
| Commission income | 佣金收入 | 189 | 204 |
| Interest income from bank deposits | 银行存款利息收入 | 443 | 718 |
| Insurance claim recoveries | 保险索赔金额 | 168 | – |
| Gain on disposal of property, plant and equipment | 出售物业、厂房及 设备之收益 | 162 | 26 |
| Gross rental income from investment properties | 投资物业租金收入总额 | 307 | 279 |
| Government grants (note) | 政府补助（附注） | 136 | 142 |
| Other income | 其他收入 | 924 | 732 |
| 2,774 | 2,743 |
万保刚集团有限公司 – 二零二四/二零二五年年报
For the year ended 31st March 2025 截至二零二五年三月三十一日止年度
Notes to the Consolidated Financial Statements
综合财务报表附注
7 (Loss)/profit for the Year
(Loss)/profit for the year has been arrived at after charging/
(crediting):
8 Finance Costs
7 年内（亏损）╱溢利
年内（亏损）╱溢利已于扣除╱（计入）下
列各项后达致：
8 融资成本
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| Costs of inventories expensed | 存货成本开支 | 203,991 | 243,888 |
| Employee benefit expense (Note 12) | 雇员福利开支（附注12） | 53,526 | 51,791 |
| Amortization of intangible assets | 无形资产摊销 | 93 | 62 |
| Depreciation of right-of-use assets | 使用权资产折旧 | 4,173 | 5,685 |
| Depreciation of property, plant and equipment | 物业、厂房及设备折旧 | 2,424 | 2,337 |
| Gain on fair values changes of investments properties | 投资物业之公平值变动收益 | (116) | (58) |
| Provision for impairment of trade receivables (included in general and administrative expenses) | 应收贸易账款减值拨备 （已计入一般及行政管理 费用） | 406 | 781 |
| Reversal of provision for impairment of trade receivables (included in general and administrative expenses) | 应收贸易账款减值拨备拨回 （已计入一般及行政管理 费用） | (246) | (867) |
| Provision for/(reversal of) impairment of slow-moving inventories (included in cost of sales) | 滞销存货减值拨备╱（拨回） （已计入销售成本） | 1,444 | (4,279) |
| Expenses related to short-term leases | 短期租赁相关开支 | 2,785 | 2,686 |
| Auditors’ remuneration | 核数师酬金 | 1,120 | 1,120 |
| Net foreign exchange gain (included in general and administrative expenses) | 汇兑收益净额 （已计入一般及行政管理 费用） | (3,101) | (3,746) |
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| Interest expense on bank borrowings | 银行借贷之利息开支 | 2,300 | 3,425 |
| Interest expense on lease liabilities | 租赁负债之利息开支 | 453 | 445 |
| 2,753 | 3,870 |
Mobicon Group Limited – Annual Report 2024/2025
For the year ended 31st March 2025 截至二零二五年三月三十一日止年度
Notes to the Consolidated Financial Statements
综合财务报表附注
9 Income Tax Expense
Hong Kong Profits Tax has been provided at the rate of 16.5%
(2024:16.5%) on the estimated assessable profit arising in or
derived from Hong Kong for the year. Taxation on overseas profits
has been calculated on the estimated assessable profit for the year
at the rates of taxation prevailing in the countries in which the
Group operates.
9 所得税开支
本集团已根据年内于香港产生或源自香
港之估计应课税溢利按16.5%（二零二四
年：16.5%）之税率拨备香港利得税。海外
溢利之税项已按年内估计应课税溢利以
本集团经营业务之国家当时之税率计算。
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| Current income tax | 即期所得税 | ||
| – Hong Kong Profits Tax | －香港利得税 | 17 | 153 |
| – Overseas taxation | －海外税项 | 1,797 | 4,390 |
| – Under provision in prior years | －过往年度拨备不足 | 62 | 19 |
| 1,876 | 4,562 | ||
| Deferred tax (credit)/expense | 递延税项（抵免）╱开支 | ||
| – Overseas taxation | －海外税项 | (271) | 81 |
| Income tax expense | 所得税开支 | 1,605 | 4,643 |
万保刚集团有限公司 – 二零二四/二零二五年年报
For the year ended 31st March 2025 截至二零二五年三月三十一日止年度
Notes to the Consolidated Financial Statements
综合财务报表附注
9 Income Tax Expense (continued)
The tax on the Group’s (loss)/profit before income tax differs from
the theoretical amount that would arise using the Hong Kong
Profits Tax rate as follows:
As the Company is an exempted company incorporated in Bermuda,
it is exempted from taxation in Bermuda until 2035.
As at 31st March 2025, the Group has unused tax losses
of approximately HK$115,832,000 (2024: approximately
HK$103,744,000) available for offset against future profits
(subject to the approval of the relevant tax authorities).
Included in unrecognized tax losses are losses of approximately
HK$108,546,000 (2024: approximately HK$99,438,000) may be
carried forward indefinitely in Hong Kong and approximately
HK$7,286,000 (2024: approximately HK$4,306,000) will expire
within 5 years under other jurisdiction. No deferred tax asset
had been recognized in respect of such tax losses due to the
unpredictability of future profit streams.
9 所得税开支（续）
本集团除所得税前（亏损）╱溢利之税项
与采用香港利得税税率计算得出之理论
数额不同，载列如下：
由于本公司为于百慕达注册成立之获豁
免公司，故获豁免缴纳百慕达税项直至
二零三五年。
于二零二五年三月三十一日，本集团之
未动用税项亏损约为115,832,000港元（二
零二四年：约103,744,000港元），有关税
项亏损可供抵销未来溢利（须待有关税
务机关批准后方可作实）。未确认税项亏
损包括亏损约108,546,000港元（二零二四
年：约99,438,000港元），于香港可无限期
结转，而约7,286,000港元（二零二四年：
约4,306,000港元）于其他司法权区将于五
年内到期。并无就上述税项亏损确认递
延税项资产，原因为未能预测未来溢利
来源。
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| (Loss)/profit before income tax | 除所得税前（亏损）╱溢利 | (8,875) | 6,394 |
| Tax calculated at Hong Kong Profits Tax rate of 16.5% (2024: 16.5%) | 按香港利得税税率16.5%（二零 二四年：16.5%）计算之税项 | (1,465) | 1,055 |
| Effect of different tax rates of subsidiaries operating in other countries | 于其他国家营运之附属公司 采用不同税率之影响 | 170 | 1,428 |
| Tax effect of expense not deductible for tax purpose | 不可扣税开支的税务影响 | 804 | 507 |
| Tax effect of income not taxable for tax purpose | 毋须课税收入的税务影响 | (119) | (69) |
| Tax losses of subsidiaries not recognized | 尚未确认之附属公司税项亏损 | 1,995 | 1,903 |
| Utilization of previously unrecognized tax losses | 动用先前尚未确认之税项亏损 | – | (79) |
| Under provision in prior years | 过往年度拨备不足 | 62 | 19 |
| Tax concession | 税项宽减 | (21) | (214) |
| Others | 其他 | 179 | 93 |
| Income tax expense | 所得税开支 | 1,605 | 4,643 |
Mobicon Group Limited – Annual Report 2024/2025
For the year ended 31st March 2025 截至二零二五年三月三十一日止年度
Notes to the Consolidated Financial Statements
综合财务报表附注
10 Loss Per Share
The calculation of basic loss per share for the year ended 31st
March 2025 is based on the Group’s loss attributable to equity
holders of the Company of approximately HK$11,764,000 (2024:
approximately HK$4,891,000). The calculation was based on the
weighted average number of 200,000,000 (2024: 200,000,000)
ordinary shares in issue during the year.
The diluted loss per share is equal to the basic loss per share as
the Company has no dilutive potential ordinary shares in issue
during the years ended 31st March 2025 and 2024.
11 Dividends
At a meeting held on 25th June 2024, the directors of the Company
proposed a final dividend of HK0.5 cent per ordinary share in
respect of the year ended 31st March 2024.
At a meeting held on 25th June 2025, the directors of the Company
proposed a final dividend of HK0.25 cent per ordinary share in
respect of the year ended 31st March 2025. This proposed final
dividend is not reflected as a dividend payable in these financial
statements.
10 每股亏损
截至二零二五年三月三十一日止年度之
每股基本亏损乃按本公司权益持有人应
占本集团亏损约11,764,000港元（二零二四
年：约4,891,000港元）计算。有关计算
乃基于年内已发行普通股之加权平均数
200,000,000股（二零二四年：200,000,000
股）。
由于本公司于截至二零二五年及二零
二四年三月三十一日止两个年度并无任
何具潜在摊薄影响之已发行普通股，故
每股摊薄亏损与每股基本亏损相同。
11 股息
于二零二四年六月二十五日举行之会议
上，本公司董事建议派付截至二零二四
年三月三十一日止年度之末期股息每股
普通股0.5港仙。
于二零二五年六月二十五日举行之会议
上，本公司董事建议派付截至二零二五
年三月三十一日止年度之末期股息每股
普通股0.25港仙。此项拟派的末期股息不
会于此等财务报表列作应付股息。
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| Interim dividend paid of HK0.5 cent (2024: HK0.5 cent) per ordinary share | 已派中期股息 每股普通股0.5港仙 （二零二四年：0.5港仙） | 1,000 | 1,000 |
| Proposed final dividend of HK0.25 cent (2024: HK0.5 cent) per ordinary share | 拟派末期股息 每股普通股0.25港仙 （二零二四年：0.5港仙） | 500 | 1,000 |
| 1,500 | 2,000 |
万保刚集团有限公司 – 二零二四/二零二五年年报
For the year ended 31st March 2025 截至二零二五年三月三十一日止年度
Notes to the Consolidated Financial Statements
综合财务报表附注
12 Employee Benefit Expense
(a) Pensions – defined contribution plans
The Group has arranged for its Hong Kong employees to join the
Mandatory Provident Fund Scheme (“the MPF Scheme”). The
MPF Scheme is a defined contribution scheme managed by an
independent trustee. Under the MPF Scheme, each of the Group
and its employees makes monthly contribution to the scheme at
5% of the employees’ earnings as defined under the Mandatory
Provident Fund Schemes Ordinance. Except for voluntary
contribution, no forfeited contribution under the MPF Scheme is
available to reduce the contribution payable in future years. The
employer’s and employees’ contribution are subject to a cap of
monthly earnings of HK$30,000 (2024: HK$30,000).
Mobicon-Remote Electronic Sdn. Bhd., a 95% owned subsidiary
of the Group, has arranged for its employees in Malaysia to join
the Employee Provident Fund Scheme (“the EPF Scheme”). The
EPF Scheme is a defined contribution scheme managed by the
government of Malaysia. Under the EPF Scheme, the employer
and its employees make monthly contribution to the scheme
at 13% and 11%, respectively, of the employees’ earnings as
defined under the Employee Provident Fund Act 1991, and the
Group has no further obligations for the actual pension payments
or post-retirement benefits beyond its contributions. The relevant
government agency is responsible for the pension obligation
payable to the retired employees.
12 雇员福利开支
(a) 退休金－定额供款计划
本集团已为其香港雇员安排参与强制性
公积金计划（「强积金计划」）。强积金
计划乃由独立信托人管理之定额供款计
划。根据强积金计划，本集团及其雇员
须各自按雇员收入（定义见强制性公积金
计划条例）之5%每月向该计划供款。除自
愿供款以外，强积金计划中并无可用作
减少未来数年应付供款之没收供款。雇
主及雇员供款之每月收入上限为30,000港
元（二零二四年：30,000港元）。
Mobicon-Remote Electronic Sdn. Bhd.（本集团
拥有95%权益之附属公司）已为其马来西
亚雇员安排参与雇员公积金计划（「公积
金计划」）。公积金计划乃由马来西亚政
府管理之定额供款计划。根据公积金计
划，雇主及其雇员须分别按雇员收入（定
义见一九九一年雇员公积金法令）之13%
及11%每月向该计划供款。除供款以外，
本集团并不须就实际支付退休金或退休
后福利承担进一步责任。有关政府机关
须负责向退休雇员支付退休金。
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| Salaries, wages and other benefits | 薪金、工资及其他福利 | 50,994 | 49,233 |
| Pension costs – defined contribution plans | 退休金成本－定额供款计划 | 2,532 | 2,558 |
| Total employee benefit expense (including directors’ remuneration) | 雇员福利开支总额 （包括董事酬金） | 53,526 | 51,791 |
Mobicon Group Limited – Annual Report 2024/2025
For the year ended 31st March 2025 截至二零二五年三月三十一日止年度
Notes to the Consolidated Financial Statements
综合财务报表附注
12 Employee Benefit Expense (continued)
(a) Pensions – defined contribution plans (continued)
Mobicon-Remote Electronic Pte Ltd., a wholly-owned subsidiary
of the Group, has arranged for its employees in Singapore to
join the Central Provident Fund Scheme (“the CPF Scheme”). The
CPF Scheme is a defined contribution scheme managed by the
government of Singapore. Under the CPF Scheme, the employer
and its employees make monthly contribution to the scheme at
17% and 20%, respectively, of the employees’ earnings as defined
under the Central Provident Fund Act, and the Group has no further
obligations for the actual pension payments or post-retirement
benefits beyond its contributions. The relevant government agency
is responsible for the pension obligation payable to the retired
employees.
As stipulated by rules and regulations in the People’s Republic
of China (the “PRC”), the Group contributes to state-sponsored
retirement plans for its employees in Mainland China as
determined by the relevant local governments, which are defined
contribution plans. Contributions are based on certain percentage
of the applicable salaries of its employees in Mainland China and
have no further obligations for the actual payment of pensions
or post-retirement benefits beyond the annual contributions. The
state-sponsored retirement plans are responsible for the pension
obligations payable to the retired employees.
Pursuant to the Labor Pension Act of Republic of China, the Group
contributes its employees in Taiwan of no less than 6% of its
employee’s monthly wages to the employee’s individual pension
account. The Group’s contributions are expensed as incurred.
The Group has arranged for its South African employees to join
the Mandatory Provident Fund Schemes. The Schemes is a defined
contribution plan managed by an independent trustee. Under the
schemes, each of the group and its employees make monthly
contributions to the schemes ranging between 5% to 7.5% of the
employees’ earnings as defined under Mandatory Provident Fund
Schemes Ordinance.
For the year ended 31st March 2025 and 2024, there were no
forfeited contributions (by employers on behalf of employees
who leave the retirement scheme prior to vesting fully in such
contributions) be used to reduce the existing level of contributions.
12 雇员福利开支（续）
(a) 退休金－定额供款计划（续）
Mobicon-Remote Electronic Pte Ltd.（本集团全
资附属公司）已为其新加坡雇员安排参与
中央公积金计划（「中央公积金计划」）。
中央公积金计划乃由新加坡政府管理之
定额供款计划。根据中央公积金计划，
雇主及其雇员须分别按雇员收入（定义见
中央公积金法）之17%及20%每月向该计划
供款。除供款以外，本集团并不须就实
际支付退休金或退休后福利承担进一步
责任。有关政府机关须负责向退休雇员
支付退休金。
根据中华人民共和国（「中国」）法规及规
例所订明，本集团为其中国内地雇员向
国家资助退休计划作出供款，有关供款
由有关当地政府厘定，而该等计划为定
额供款计划。供款额按其中国内地雇员
适用薪金之若干百分比计算。除每年供
款外，本集团并不须就实际支付退休金
或退休后福利承担进一步责任。国家资
助退休计划须负责向退休雇员支付退休
金。
根据中华民国之劳工退休金条例，本集
团向其台湾雇员之个人退休金账户作出
不少于该名雇员每月工资6%之供款。本
集团之供款于产生时支销。
本集团已安排其南非雇员参与强制性公
积金计划。该计划乃由独立受托人管理
之定额供款计划。根据该计划，集团及
其雇员均须按雇员收入（定义见强制性公
积金计划条例）之5%至7.5%每月向计划供
款。
截至二零二五年及二零二四年三月
三十一日止年度，概无已被没收的供款
（由雇主代表于有关供款悉数归属前退出
退休计划的雇员作出）用于减少现有供款
水平。
万保刚集团有限公司 – 二零二四/二零二五年年报
For the year ended 31st March 2025 截至二零二五年三月三十一日止年度
Notes to the Consolidated Financial Statements
综合财务报表附注
13 Directors’ and Chief Executive’s
Emoluments
The remuneration of directors and the chief executive officer for
the year ended 31st March 2025 is set out below:
13 董事及主要行政人员之酬金
截至二零二五年三月三十一日止年度，
董事及行政总裁之酬金载列如下：
| Name of director | 董事姓名 | Fees | Salaries, allowances and other benefits in kind | Employer’s contributions to defined contribution scheme | Total |
|---|---|---|---|---|---|
| 袍金 | 薪金、津贴及 其他实物 福利 | 定额供款 计划之 雇主供款 | 总计 | ||
| HK$’000 | HK$’000 | HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | 千港元 | 千港元 | ||
| Executive directors | 执行董事 | ||||
| Dr. Hung Kim Fung, Measure (chairman) | 洪剑峰博士（主席） | – | – | – | – |
| Ms. Yeung Man Yi, Beryl (deputy chairman and chief executive officer) | 杨敏仪女士 （副主席兼行政总裁） | – | – | – | – |
| Mr. Hung Ying Fung | 洪英峰先生 | – | – | – | – |
| Mr. Yeung Kwok Leung, Allix | 杨国梁先生 | – | – | – | – |
| Independent non-executive directors | 独立非执行董事 | ||||
| Mr. Ip Fu Wa, Benthony | 叶富华先生 | 80 | – | – | 80 |
| Dr. Leung Wai Cheung | 梁伟祥博士 | 120 | – | – | 120 |
| Mr. Ku Wing Hong, Eric | 古永康先生 | 80 | – | – | 80 |
| 280 | – | – | 280 | ||
Mobicon Group Limited – Annual Report 2024/2025
For the year ended 31st March 2025 截至二零二五年三月三十一日止年度
Notes to the Consolidated Financial Statements
综合财务报表附注
13 Directors’ and Chief Executive’s
Emoluments (continued)
The remuneration of directors and the chief executive officer for
the year ended 31st March 2024 is set out below:
During the year ended 31st March 2025, four directors (2024:
four) of the Group waived emoluments in an aggregate amount of
approximately HK$600,000 (2024: approximately HK$600,000). No
incentive payment for joining the Group or compensation for loss
of office was paid or payable to any director during the year (2024:
Nil).
13 董事及主要行政人员之酬金
（续）
截至二零二四年三月三十一日止年度，
董事及行政总裁之酬金载列如下：
于截至二零二五年三月三十一日止年
度，本集团四名董事（二零二四年：四
名）放弃酬金合共约600,000港元（二零
二四年：约600,000港元）。年内，概无已
付或应付予任何董事之奖励或补偿，作
为彼加入本集团时之奖励或离职补偿（二
零二四年：无）。
| Name of director | 董事姓名 | Fees | Salaries, allowances and other benefits in kind | Employer’s contributions to defined contribution scheme | Total |
|---|---|---|---|---|---|
| 袍金 | 薪金、津贴及 其他实物 福利 | 定额供款 计划之 雇主供款 | 总计 | ||
| HK$’000 | HK$’000 | HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | 千港元 | 千港元 | ||
| Executive directors | 执行董事 | ||||
| Dr. Hung Kim Fung, Measure (chairman) | 洪剑峰博士（主席） | – | – | – | – |
| Ms. Yeung Man Yi, Beryl (deputy chairman and chief executive officer) | 杨敏仪女士 （副主席兼行政总裁） | – | – | – | – |
| Mr. Hung Ying Fung | 洪英峰先生 | – | – | – | – |
| Mr. Yeung Kwok Leung, Allix | 杨国梁先生 | – | – | – | – |
| Independent non-executive directors | 独立非执行董事 | ||||
| Mr. Ip Fu Wa, Benthony | 叶富华先生 | 80 | – | – | 80 |
| Dr. Leung Wai Cheung | 梁伟祥博士 | 120 | – | – | 120 |
| Mr. Ku Wing Hong, Eric | 古永康先生 | 80 | – | – | 80 |
| 280 | – | – | 280 | ||
万保刚集团有限公司 – 二零二四/二零二五年年报
For the year ended 31st March 2025 截至二零二五年三月三十一日止年度
Notes to the Consolidated Financial Statements
综合财务报表附注
13 Directors’ and Chief Executive’s Emoluments
(continued)
Five highest paid individuals
The five individuals with the highest in the Group for the year do
not include any executive director (2024: Nil) whose emoluments
are detailed above. Details of the remuneration for the year of
the remaining five (2024: five) highest paid employees who are
neither a director nor chief executive officer of the Company are as
follows:
The emoluments of each of these highest paid individuals whose
remuneration fell within the following bands is as follows:
During the year, no emoluments were paid to the above individual
as inducement to join or upon joining the Group or as compensation
for loss of office (2024: Nil).
13 董事及主要行政人员之酬金
（续）
五名最高薪人士
年内，本集团五名最高薪人士当中并不
包括任何执行董事（二零二四年：无），
彼等之酬金详情载于上文。余下五名（二
零二四年：五名）既非本公司董事亦非行
政总裁之最高薪雇员之年内薪酬详情如
下：
该等薪酬介乎以下范围之最高薪人士各
自之酬金详情如下：
年内，并无向上述人士支付酬金作为吸
引彼等加入或于加入本集团时之奖励或
作为离职补偿（二零二四年：无）。
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| Salaries, allowances and other benefits in kind | 薪金、津贴及其他实物福利 | 2,526 | 3,033 |
| Employer’s contributions to defined contribution scheme | 定额供款计划之雇主供款 | 117 | 89 |
| 2,643 | 3,122 |
| Number of employees | |||
|---|---|---|---|
| 雇员人数 | |||
| 2025 | 2024 | ||
| 二零二五年 | 二零二四年 | ||
| Nil to HK$1,000,000 | 零 至1,000,000港元 | 5 | 5 |
Mobicon Group Limited – Annual Report 2024/2025
For the year ended 31st March 2025 截至二零二五年三月三十一日止年度
Notes to the Consolidated Financial Statements
综合财务报表附注
14 Property, Plant and Equipment and Leases
(a) Property, Plant and Equipment
14 物业、厂房及设备以及租赁
(a) 物业、厂房及设备
| Freehold lands and buildings | Leasehold properties | Furniture and fixtures | Office equipment | Motor vehicles | Total | ||
|---|---|---|---|---|---|---|---|
| 永久业权 土地及楼宇 | 租赁物业 | 家私及 装置 | 办公室 设备 | 汽车 | 总计 | ||
| HK$’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 | ||
| Year ended 31st March 2024 | 截至二零二四年 三月三十一日止年度 | ||||||
| Opening net book amount | 年初账面净值 | 32,035 | 17,435 | 733 | 818 | 790 | 51,811 |
| Exchange differences | 汇兑差额 | (1,926) | (227) | (30) | (37) | (32) | (2,252) |
| Additions | 添置 | 40 | – | 205 | 1,123 | 122 | 1,490 |
| Surplus on revaluation | 重估盈余 | – | 58 | – | – | – | 58 |
| Disposals | 出售 | – | – | (41) | (18) | (88) | (147) |
| Depreciation | 折 旧 | (846) | (362) | (294) | (538) | (297) | (2,337) |
| Closing net book amount | 年 终账面净值 | 29,303 | 16,904 | 573 | 1,348 | 495 | 48,623 |
| At 31st March 2024 | 于二零二四年三月三十一日 | ||||||
| Cost or valuation | 成本值或估值 | 30,143 | 18,733 | 13,125 | 17,152 | 3,478 | 82,631 |
| Accumulated depreciation | 累 计折旧 | (840) | (1,829) | (12,552) | (15,804) | (2,983) | (34,008) |
| Net book amount | 账 面净值 | 29,303 | 16,904 | 573 | 1,348 | 495 | 48,623 |
| Year ended 31st March 2025 | 截至二零二五年 三月三十一日止年度 | ||||||
| Opening net book amount | 年初账面净值 | 29,303 | 16,904 | 573 | 1,348 | 495 | 48,623 |
| Exchange differences | 汇兑差额 | 660 | (39) | 9 | 27 | 8 | 665 |
| Additions | 添置 | 373 | – | 193 | 145 | 238 | 949 |
| Surplus on revaluation | 重估盈余 | – | 59 | – | – | – | 59 |
| Disposals | 出售 | – | – | – | (10) | (54) | (64) |
| Depreciation | 折 旧 | (884) | (362) | (307) | (597) | (274) | (2,424) |
| Closing net book amount | 年 终账面净值 | 29,452 | 16,562 | 468 | 913 | 413 | 47,808 |
| At 31st March 2025 | 于二零二五年三月三十一日 | ||||||
| Cost or valuation | 成本值或估值 | 31,189 | 18,745 | 13,351 | 17,299 | 3,691 | 84,275 |
| Accumulated depreciation | 累 计折旧 | (1,737) | (2,183) | (12,883) | (16,386) | (3,278) | (36,467) |
| Net book amount | 账 面净值 | 29,452 | 16,562 | 468 | 913 | 413 | 47,808 |
万保刚集团有限公司 – 二零二四/二零二五年年报
For the year ended 31st March 2025 截至二零二五年三月三十一日止年度
Notes to the Consolidated Financial Statements
综合财务报表附注
14 Property, Plant and Equipment and Leases
(continued)
(a) Property, Plant and Equipment (continued)
The analysis of the cost or valuation at 31st March 2025 and 2024
of the above assets is as follows:
The leasehold properties are located outside Hong Kong and held
under a long-term lease.
At 31st March 2025, had the leasehold properties at revaluation
model of the Group been carried at historical cost less accumulated
depreciation, the carrying values would have been approximately
HK$2,191,000 (2024: approximately HK$2,246,000).
14 物业、厂房及设备以及租赁
（续）
(a) 物业、厂房及设备（续）
上述资产于二零二五年及二零二四年三
月三十一日之成本或估值分析如下：
二零二五年
二零二四年
租赁物业位于香港境外并按长期租赁持
有。
于二零二五年三月三十一日，倘本集团
按重估模型之租赁物业乃按历史成本减
累计折旧列账，则账面值将约为2,191,000
港元（二零二四年：约2,246,000港元）。
| Freehold lands and buildings | Leasehold properties | Furniture and fixtures | Office equipment | Motor vehicles | Total | ||
|---|---|---|---|---|---|---|---|
| 永久业权 土地及楼宇 | 租赁物业 | 家私及装置 | 办公室设备 | 汽车 | 总计 | ||
| HK$’000 | HK$’000 | HK$’000 | HK$’000 | HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | 千港元 | 千港元 | 千港元 | 千港元 | ||
| At cost | 按成本 | 29,452 | 11,288 | 468 | 913 | 413 | 42,534 |
| At valuation | 按 估值 | – | 5,274 | – | – | – | 5,274 |
| 29,452 | 16,562 | 468 | 913 | 413 | 47,808 |
| Freehold lands and buildings | Leasehold properties | Furniture and fixtures | Office equipment | Motor vehicles | Total | ||
|---|---|---|---|---|---|---|---|
| 永久业权 土地及楼宇 | 租赁物业 | 家私及装置 | 办公室设备 | 汽车 | 总计 | ||
| HK$’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 cost | 按成本 | 29,303 | 11,686 | 573 | 1,348 | 495 | 43,405 |
| At valuation | 按 估值 | – | 5,218 | – | – | – | 5,218 |
| 29,303 | 16,904 | 573 | 1,348 | 495 | 48,623 |
Mobicon Group Limited – Annual Report 2024/2025
For the year ended 31st March 2025 截至二零二五年三月三十一日止年度
Notes to the Consolidated Financial Statements
综合财务报表附注
14 Property, Plant and Equipment and Leases
(continued)
(a) Property, Plant and Equipment (continued)
At 31st March 2025, leasehold properties and freehold lands and
buildings with net book amount of approximately HK$19,984,000
(2024: approximately HK$19,974,000) have been pledged to
secure certain banking facilities granted by a bank to subsidiaries
amounting to approximately HK$4,039,000 (2024: approximately
HK$13,448,000).
The fair values of the Group’s leasehold properties located in
Singapore at 31st March 2025 and 2024 have been arrived at on
the basis of a valuation carried out by Norton Appraisals Limited,
which is independent qualified professional valuer not connected
with the Group. The valuations were arrived at by reference to
market evidence of transaction prices for similar properties.
The Group’s policy is to recognize transfers into and transfers out
of fair value hierarchy levels as of the date of the event or change
in circumstances that caused the transfer.
There were no transfers among Levels 1, 2 and 3 during the year.
Valuation basis
(i) Valuation processes
The Group obtains independent valuation for its leasehold
properties at least annually. In the current year, the valuation is
performed by an independent firm of professional valuer. At the
end of each reporting period, the directors update their assessment
of the fair value of each leasehold property, taking into account
the most recent independent valuations. The directors review
the valuations performed by an independent valuer for financial
reporting purposes. Discussions of valuation processes and results
are held between the directors and valuer at least annually, in line
with the Group’s annual report date.
14 物业、厂房及设备以及租赁
（续）
(a) 物业、厂房及设备（续）
于二零二五年三月三十一日，账面净
值约为19,984,000港元（二零二四年：约
19,974,000港元）之租赁物业及永久业权土
地及楼宇已被抵押作为银行授予附属公
司金额约为4,039,000港元（二零二四年：
约13,448,000港元）之若干银行融资之抵押
品。
本集团位于新加坡之租赁物业于二零
二五年及二零二四年三月三十一日之公
平值，已根据与本集团并无关连之独立
合资格专业估值师普敦国际评估有限公
司进行之估值而厘定。有关估价乃经参
考同类物业成交价之市场证据后作出。
本集团之政策是于引致转拨之事件或变
数发生当日确认公平值等级之转入及转
出。
年内，第一级、第二级及第三级之间并
无任何转拨。
估值基准
(i) 估值程序
本集团最少每年一次就其租赁物业寻求
独立估值。于本年度，有关估值由独立
专业估值师行进行。于各报告期结算
日，董事会更新彼等对每项租赁物业公
平值之评估，当中已计及最新之独立估
值。董事审阅独立估值师作出之估值，
以便作出财务申报。董事与估值师最少
每年一次配合本集团年报日期讨论估值
程序及结果。
万保刚集团有限公司 – 二零二四/二零二五年年报
For the year ended 31st March 2025 截至二零二五年三月三十一日止年度
Notes to the Consolidated Financial Statements
综合财务报表附注
14 Property, Plant and Equipment and Leases
(continued)
(a) Property, Plant and Equipment (continued)
Valuation basis (continued)
(i) Valuation processes (continued)
At each financial year end the directors:
(i) Verify all major inputs to the independent valuation report;
(ii) Assess leasehold properties valuations movements when
compared to prior year valuation report; and
(iii) Hold discussions with the independent valuer.
(ii) Valuation techniques
The fair value of the leasehold properties of the Group held for
own use as at 31st March 2025 and 2024 are classified as Level 2
valuations.
The fair value of leasehold properties for own use is determined
using market comparison approach by reference to recent sales
price and rental of comparable properties on a price per square
feet basis using market data which is publicly available.
Impairment assessment
The management of the Group identified that there were
impairment indicators on certain cash-generating units (“CGUs“)
and conducted impairment assessment of property, plant and
equipment as at 31st March 2025. As at 31st March 2025, the
recoverable amount of property, plant and equipment has been
determined based on a value in use calculation. Based on the result
of the assessment, management of the Group determined that
the recoverable amount of the CGUs are higher than the carrying
amount and no impairment is recognized for the year ended 31st
March 2025.
14 物业、厂房及设备以及租赁
（续）
(a) 物业、厂房及设备（续）
估值基准（续）
(i) 估值程序（续）
于各个财政年度末，董事会：
(i) 核实独立估值报告中的所有主要
输入数据；
(ii) 透过与过往年度之估值报告作比
较，评估租赁物业之估值变动；
及
(iii) 与独立估值师进行讨论。
(ii) 估值技术
于二零二五年及二零二四年三月三十一
日，本集团持作自用之租赁物业之公平
值获分类为第二级估值。
自用租赁物业之公平值乃使用市场比较
法厘定，其经参考可供公众取阅之市场
资料中可供比较物业按每平方呎价格基
准计算之近期售价及租金。
减值测试
于二零二五年三月三十一日，本集团管
理层识别出若干现金产生单位「现金产生
单位」已出现减值迹象，并对物业、厂房
及设备进行减值测试。于二零二五年三
月三十一日，物业、厂房及设备之可收
回金额已根据使用价值计算厘定。根据
测试结果，本集团管理层厘定现金产生
单位之可收回金额高于账面值，故截至
二零二五年三月三十一日止年度并无确
认减值。
Mobicon Group Limited – Annual Report 2024/2025
For the year ended 31st March 2025 截至二零二五年三月三十一日止年度
Notes to the Consolidated Financial Statements
综合财务报表附注
14 Property, Plant and Equipment and Leases
(continued)
(b) Leases
This note provides information for leases where the Group is a
lessee.
(i) Amounts recognized in the consolidated statement of
financial position
The weighted average incremental borrowing rates applied to
lease liabilities range from 5.8% to 11.8% (2024: from 3.2% to
8%).
Additions to the right-of-use assets during the year ended
31st March 2025 were approximately HK$2,145,000 (2024:
approximately HK$3,342,000).
14 物业、厂房及设备以及租赁
（续）
(b) 租赁
本附注提供本集团作为承租人之租赁之
资料。
(i) 于综合财务状况表确认之金额
租赁负债所应用之加权平均增量借款利
率介乎5.8%至11.8%（二零二四年：介乎
3.2%至8%）。
于截至二零二五年三月三十一日止年
度，使用权资产之添置约为2,145,000港元
（二零二四年：约3,342,000港元）。
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| Right-of-use assets | 使用权资产 | ||
| Retail stores, office premises and warehouses | 零售店舖、办公室物业及 货仓 | 2,986 | 4,952 |
| Lease liabilities | 租赁负债 | ||
| Within one year | 一年内 | 1,771 | 3,767 |
| Within a period of more than one year but not exceeding two years | 超过一年但不超过两年 | 935 | 827 |
| Within a period of more than two years but not exceeding five years | 超过两年但不超过五年 | 482 | 499 |
| Within a period of more than five years | 超 过五年 | – | 8 |
| 3,188 | 5,101 | ||
| Less: Amount due for settlement within 12 months shown under current liabilities | 减：流动负债项下所示于 12个月内到期结算 的金额 | (1,771) | (3,767) |
| Amount due for settlement after 12 months shown under non-current liabilities | 非流动负债项下所示于 12个月后到期结算的金额 | 1,417 | 1,334 |
万保刚集团有限公司 – 二零二四/二零二五年年报
For the year ended 31st March 2025 截至二零二五年三月三十一日止年度
Notes to the Consolidated Financial Statements
综合财务报表附注
14 Property, Plant and Equipment and Leases
(continued)
(b) Leases (continued)
(ii) Amounts recognized in the consolidated statement of profit
or loss
The consolidated statement of profit or loss shows the following
amounts relating to leases:
Note: The total cash outflow for leases for the year ended 31st March 2025 was
approximately HK$7,359,000 (2024: approximately HK$9,134,000).
14 物业、厂房及设备以及租赁
（续）
(b) 租赁（续）
(ii) 于综合损益表确认之金额
综合损益表载列下列与租赁有关之金额：
附注： 截至二零二五年三月三十一日止年度，
租赁之现金流出总额约为7,359,000港元
（二零二四年：约9,134,000港元）。
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| Depreciation charge of right-of-use assets | 使 用权资产折旧开支 | 4,173 | 5,685 |
| Interest expense (included in finance costs) | 利息开支（已计入融资成本） | 453 | 445 |
| Expenses relating to short-term leases (included in general and administrative expenses) | 与短期租赁有关之开支 （已计入一般及 行政管理费用） | 2,785 | 2,686 |
Mobicon Group Limited – Annual Report 2024/2025
For the year ended 31st March 2025 截至二零二五年三月三十一日止年度
Notes to the Consolidated Financial Statements
综合财务报表附注
14 Property, Plant and Equipment and Leases
(continued)
(b) Leases (continued)
(iii) The Group’s leasing activities and how these are accounted
for
The Group leases retail stores, office premises and warehouses.
Rental contracts are typically made for fixed periods of 1 to 5 years
for the year ended 31st March 2025 and 2024.
Lease terms are negotiated on an individual basis and include
a wide range of terms and conditions. The lease agreements do
not impose any covenants other than the security interests in the
leased assets held by the lessor. Leased assets may not be used as
security for borrowing purposes.
(iv) Variable lease payments
Leases of the Group do not contain variable payment terms that are
linked to an index or a rate.
(v) Extension and termination options
Extension and termination options are included in a number of
property leases across the Group. These are used to maximize
operational flexibility in terms of managing the assets used in the
Group’s operations. The majority of extension and termination
options held are exercisable only by the Group and not by the
respective lessor.
(vi) Residual value guarantees
The Group did not provide residual value guarantees in relation to
leases during the year ended 31st March 2025 (2024: Nil).
(vii) Impairment assessment
The management of the Group identified that there were
impairment indicators on certain CGUs and conducted impairment
assessment of right-of-use assets as at 31st March 2025. As at
31st March 2025, the recoverable amount of right-of-use assets
has been determined based on a value in use calculation. Based
on the result of the assessment, management of the Group
determined that the recoverable amount of the CGUs are higher
than the carrying amount and no impairment is recognized for the
year ended 31st March 2025.
14 物业、厂房及设备以及租赁
（续）
(b) 租赁（续）
(iii) 本集团之租赁活动及有关租赁之入账方
法
本集团租赁数个零售店舖、办公室物业
及货仓。截至二零二五年及二零二四年
三月三十一日止年度的租约一般固定为
期1至5年。
租赁条款乃按个别基准协商达致，当中
包含各种条款及条件。除了出租人持有
之租赁资产中之担保权益外，租赁协议
并无施加任何契诺。租赁资产不可用作
借贷抵押品。
(iv) 可变租赁付款
本集团之租赁并不包含与指数或利率挂
钩的可变付款条款。
(v) 延展及终止选择权
本集团多项物业租赁包含延展及终止选
择权。就管理本集团业务运作所使用之
资产而言，该等选择权乃用于尽量提高
运作之灵活性。所持有的大部分延展及
终止选择权仅可由本集团而非有关出租
人行使。
(vi) 剩余价值担保
于截至二零二五年三月三十一日止年
度，本集团并无提供有关租赁的剩余价
值担保（二零二四年：无）。
(vii) 减值测试
于二零二五年三月三十一日，本集团管
理层识别出若干现金产生单位已出现减
值迹象，并对使用权资产进行减值测
试。于二零二五年三月三十一日，使用
权资产之可收回金额已根据使用价值计
算厘定。根据测试结果，本集团管理层
厘定现金产生单位之可收回金额高于账
面值，故截至二零二五年三月三十一日
止年度并无确认减值。
万保刚集团有限公司 – 二零二四/二零二五年年报
For the year ended 31st March 2025 截至二零二五年三月三十一日止年度
Notes to the Consolidated Financial Statements
综合财务报表附注
15 Investment Properties
The fair value of the Group’s investment properties at 31st March
2025 and 2024 have been arrived at on the basis of a valuation
carried out by Norton Appraisals Limited, which is independent
qualified professional valuer not connected with the Group. The
valuations were arrived at by reference to market evidence of
transaction prices for similar properties.
At 31st March 2025, investment properties with aggregate
amount of approximately HK$5,274,000 (2024: approximately
HK$5,160,000) have been pledged to secure certain banking
facilities granted by a bank to a subsidiary amounting to
approximately HK$4,172,000 (2024: approximately HK$4,188,000).
The fair value change is included in “general and administrative
expenses” in the consolidated statement of profit or loss.
15 投资物业
本集团投资物业于二零二五年及二零
二四年三月三十一日之公平值，已根据
与本集团并无关连之独立合资格专业估
值师普敦国际评估有限公司进行之估值
而厘定。该等估值乃参考类似物业之市
场交易价格凭证达致。
于二零二五年三月三十一日，总金额约
为5,274,000港元（二零二四年：约5,160,000
港元）之投资物业已被抵押，作为银行授
予附属公司金额约为4,172,000港元（二零
二四年：约4,188,000港元）之若干银行融
资之抵押品。
公平值变动列入综合损益表「一般及行政
管理费用」项下。
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| Non-current asset – at fair value | 非流动资产－按公平值 | ||
| Opening balance at 1st April | 于四月一日之年初结余 | 5,160 | 5,196 |
| Exchange differences | 汇兑差额 | (2) | (94) |
| Fair value gain | 公 平值收益 | 116 | 58 |
| Closing balance at 31st March | 于 三月三十一日之年终结余 | 5,274 | 5,160 |
| Gross rental income from investment properties | 投资物业租金收入总额 | 286 | 279 |
| Less: Direct operating expenses from investment properties that generated rental income | 减：产生租金收入之 投资物业之直接营运 开支 | (24) | (19) |
| 262 | 260 | ||
Mobicon Group Limited – Annual Report 2024/2025
For the year ended 31st March 2025 截至二零二五年三月三十一日止年度
Notes to the Consolidated Financial Statements
综合财务报表附注
15 投资物业（续）
估值基准
(a) 估值程序
本集团最少每年一次就其投资物业寻求
独立估值。于本年度，有关估值由独立
专业估值师行进行。于各报告期结算
日，董事会更新彼等对各项投资物业公
平值之评估，当中已计及最新之独立估
值。董事审阅独立估值师作出之估值，
以便作出财务申报。董事与估值师最少
每年一次配合本集团年报日期讨论估值
程序及结果。
于二零二五年及二零二四年三月三十一
日，董事会：
(i) 核实独立估值报告中的所有重大
输入数据；
(ii) 透过与过往年度之估值报告作比
较，评估投资物业之估值变动；
及
(iii) 与独立估值师进行讨论。
(b) 估值技术
于二零二五年及二零二四年三月三十一
日，本集团持作赚取租金之投资物业之
公平值获分类为第二级估值。
投资物业之公平值乃使用市场比较法厘
定，其经参考可供公众取阅之市场资料
中可供比较物业按每平方呎价格基准计
算之近期售价及租金。
本集团之投资物业权益按账面净值作出
之分析如下：
15 Investment Properties (continued)
Valuation basis
(a) Valuation processes
The Group obtains independent valuation for its investment
properties at least annually. In the current year, the valuation is
performed by an independent firm of professional valuer. At the
end of each reporting period, the directors update their assessment
of the fair value of each investment property, taking into account
the most recent independent valuations. The directors review
the valuations performed by an independent valuer for financial
reporting purposes. Discussions of valuation processes and results
are held between the directors and valuer at least annually, in line
with the Group’s annual report date.
As at 31st March 2025 and 2024, the directors:
(i) Verify all major inputs to the independent valuation report;
(ii) Assess investment properties valuations movements when
compared to prior year valuation report; and
(iii) Hold discussions with the independent valuer.
(b) Valuation techniques
The fair value of the investment properties of the Group held to
earn rentals as at 31st March 2025 and 2024 are classified as Level
2 valuations.
The fair value of investment properties is determined using market
comparison approach by reference to recent sales price and rental
of comparable properties on a price per square feet basis using
market data which is publicly available.
The Group’s interests in investment properties at their net book
values are analyzed as follows:
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| Leases of 60 years: | 租赁60年： | ||
| – Properties held outside Hong Kong | － 在香港境外持有之物业 | 5,274 | 5,160 |
万保刚集团有限公司 – 二零二四/二零二五年年报
For the year ended 31st March 2025 截至二零二五年三月三十一日止年度
Notes to the Consolidated Financial Statements
综合财务报表附注
15 投资物业（续）
估值基准（续）
(c) 公平值等级
下表呈列于二零二五年及二零二四年三
月三十一日按估值方法划分之本集团按
公平值列账之投资物业：
15 Investment Properties (continued)
Valuation basis (continued)
(c) Fair value hierarchy
The following tables present the investment properties of the
Group carried at fair value by valuation method as at 31st March
2025 and 2024:
The Group’s policy is to recognize transfers into and transfers out
of fair value hierarchy levels as of the date of the event or change
in circumstances that caused the transfer.
There were no transfers among Levels 1, 2 and 3 during the year.
(d) Leasing arrangement
The Group leases out investment properties under operating
leases with rentals payable monthly. The leases run for a period
of 2 years. None of the leases include variable lease payment.
For minimum lease payment receivables on leases of investment
properties are disclosed in Note 27.
本集团之政策是于引致转拨之事件或变
数发生当日确认公平值等级之转入及转
出。
年内，第一级、第二级及第三级之间并
无任何转拨。
(d) 租赁安排
本集团根据经营租赁出租投资物业，租
金须每月支付。有关租赁为期两年，且
并无可变租赁付款。有关投资物业租赁
之应收最低租赁款项于附注27披露。
| Quoted prices in active market for identified assets Level 1 | Significant other observable inputs Level 2 | Significant unobservable inputs Level 3 | Total | ||
|---|---|---|---|---|---|
| 已识别资产 于活跃市场 之报价 第一级 | 其他重大 可观察 输入数据 第二级 | 重大 不可观察 输入数据 第三级 | 总计 | ||
| HK$’000 | HK$’000 | HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | 千港元 | 千港元 | ||
| 2025 | 二零二五年 | ||||
| Recurring fair value measurements | 经常性的公平值计量 | ||||
| – Properties held outside Hong Kong | －在香港境外持有之 物业 | – | 5,274 | – | 5,274 |
| 2024 | 二零二四年 | ||||
| Recurring fair value measurements | 经常性的公平值计量 | ||||
| – Properties held outside Hong Kong | －在香港境外持有之 物业 | – | 5,160 | – | 5,160 |
Mobicon Group Limited – Annual Report 2024/2025
For the year ended 31st March 2025 截至二零二五年三月三十一日止年度
Notes to the Consolidated Financial Statements
综合财务报表附注
16 Goodwill and Intangible Assets
Amortization methods and periods
The Group amortizes intangible assets with a limited useful life
using the straight-line method over the following periods:
Licenses 3 years
16 商誉及无形资产
摊销方法及年期
本集团于下列期间使用直线法摊销具有
限使用年期之无形资产：
许可权3年
| Goodwill | Licenses | Total | ||
|---|---|---|---|---|
| 商誉 | 许可权 | 总计 | ||
| HK$’000 | HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | 千港元 | ||
| Year ended 31st March 2024 | 截至二零二四年 三月三十一日止年度 | |||
| Opening net book amount | 年初账面净值 | – | 137 | 137 |
| Exchange differences | 汇兑差额 | – | (8) | (8) |
| Additions | 添置 | – | 33 | 33 |
| Amortization charge | 摊 销开支 | – | (62) | (62) |
| Closing net book amount | 年 终账面净值 | – | 100 | 100 |
| At 31st March 2024 | 于二零二四年三月三十一日 | |||
| Cost | 成本值 | 163 | 312 | 475 |
| Accumulated amortization and impairment | 累计摊销及减值 | (163) | (212) | (375) |
| Net book amount | 账 面净值 | – | 100 | 100 |
| Year ended 31st March 2025 | 截至二零二五年 三月三十一日止年度 | |||
| Opening net book amount | 年初账面净值 | – | 100 | 100 |
| Exchange differences | 汇兑差额 | – | 2 | 2 |
| Additions | 添置 | – | 178 | 178 |
| Amortization charge | 摊 销开支 | – | (93) | (93) |
| Closing net book amount | 年 终账面净值 | – | 187 | 187 |
| At 31st March 2025 | 于二零二五年三月三十一日 | |||
| Cost | 成本值 | 167 | 496 | 663 |
| Accumulated amortization and impairment | 累计摊销及减值 | (167) | (309) | (476) |
| Net book amount | 账 面净值 | – | 187 | 187 |
万保刚集团有限公司 – 二零二四/二零二五年年报
For the year ended 31st March 2025 截至二零二五年三月三十一日止年度
Notes to the Consolidated Financial Statements
综合财务报表附注
17 主要附属公司
于二零二五年及二零二四年三月三十一
日，主要附属公司（皆由本公司间接持有
（惟Mobicon (BVI) Limited除外，其由本公司
直接持有））详情如下：
17 Principal Subsidiaries
Details of the principal subsidiaries as at 31st March 2025 and
2024, all of which are held indirectly by the Company (except for
Mobicon (BVI) Limited which is held directly by the Company), are
as follows:
| Name | Place of incorporation and kind of legal entity | Principal activities and place of operations | Particulars of issued share capital/registered capital | Proportion of ownership interest held by the Group | |
|---|---|---|---|---|---|
| 名称 | 注册成立地点及 法定实体类别 | 主要业务及 营运地点 | 已发行股本╱ 注册资本详情 | 本集团所持拥有权 权益百分比 | |
| 2025 | 2024 | ||||
| 二零二五年 | 二零二四年 | ||||
| A Plus 2 Computer Limited | Hong Kong, limited liability company | Trading and distribution of computer products and mobile accessories in Hong Kong | Ordinary HK$1,000 | 100% | 100% |
| 毅进易电脑有限公司 | 香港，有限公司 | 于香港进行电脑产品及 手机配件买卖与分销 | 普通股1,000港元 | ||
| APower Holdings Limited | Hong Kong, limited liability company | Trading and distribution of computer products, cosmetic products and mobile accessories in Hong Kong | Ordinary HK$500,000 | 80% | 80% |
| 毅创来集团有限公司 | 香港，有限公司 | 于香港进行电脑产品、化妆品及 手机配件买卖与分销 | 普通股500,000港元 | ||
| Mantech Electronics (Proprietary) Limited | Republic of South Africa, limited liability company | Trading and distribution of electronic components, electrical components and equipment in South Africa | Ordinary ZAR 100 | 61% | 61% |
| 南非共和国，有限公司 | 于南非进行电子元件、电气元件及 仪器买卖与分销 | 普通股100南非兰特 | |||
| MBM Properties (Proprietary) Limited | Republic of South Africa, limited liability company | Trading and distribution of electronic components, electrical components and equipment in South Africa | Ordinary ZAR 100 | 61% | 61% |
| 南非共和国，有限公司 | 于南非进行电子元件、电气元件及 仪器买卖与分销 | 普通股100南非兰特 | |||
| Mobicon (BVI) Limited | British Virgin Islands, limited liability company | Investment holding in Hong Kong | Ordinary USD10,000 | 100% | 100% |
| 英属处女群岛，有限公司 | 于香港进行投资控股 | 普通股10,000美元 | |||
Mobicon Group Limited – Annual Report 2024/2025
For the year ended 31st March 2025 截至二零二五年三月三十一日止年度
Notes to the Consolidated Financial Statements
综合财务报表附注
17 主要附属公司（续）17 Principal Subsidiaries (continued)
| Name | Place of incorporation and kind of legal entity | Principal activities and place of operations | Particulars of issued share capital/registered capital | Proportion of ownership interest held by the Group | |
|---|---|---|---|---|---|
| 名称 | 注册成立地点及 法定实体类别 | 主要业务及 营运地点 | 已发行股本╱ 注册资本详情 | 本集团所持拥有权 权益百分比 | |
| 2025 | 2024 | ||||
| 二零二五年 | 二零二四年 | ||||
| Mobicon (Taiwan) Limited | Republic of China, limited liability company | Trading and distribution of electronic components, electrical components and equipment in Taiwan | Ordinary New Taiwan dollar 5,000,000 | 100% | 100% |
| 台湾万保刚股份有限公司 | 中华民国，有限公司 | 于台湾进行电子元件、电气元件及 仪器买卖与分销 | 普通股5,000,000新台币 | ||
| Mobicon Electronic Trading (Shenzhen) Limited (Note (i)) | PRC, wholly-owned foreign enterprise | Trading and distribution of electronic components, electrical components and equipment in the PRC | Registered capital HK$2,000,000 | 100% | 100% |
| 万保刚电子贸易（深圳） 有限公司（附注(i)） | 中国，外商独资企业 | 于中国进行电子元件、电气元件及 仪器买卖与分销 | 注册资本2,000,000港元 | ||
| Mobicon Holdings Limited | Hong Kong, limited liability company | Trading and distribution of electronic components, electrical components and equipment in Hong Kong | Ordinary HK$10 | 100% | 100% |
| 万保刚电子集团有限公司 | 香港，有限公司 | 于香港进行电子元件、电气元件及 仪器买卖与分销 | 普通股10港元 | ||
| Mobicon-Mantech Holdings Limited | British Virgin Islands, limited liability company | Investment holding in Hong Kong | Ordinary USD1,000 | 61% | 61% |
| 英属处女群岛，有限公司 | 于香港进行投资控股 | 普通股1,000美元 | |||
| Mobicon-Remote Electronic Pte Ltd. | Republic of Singapore, limited liability company | Trading and distribution of electronic components, electrical components and equipment in Singapore | Ordinary Singapore dollar 300,000 | 100% | 100% |
| 新加坡共和国，有限公司 | 于新加坡进行电子元件、电气元件及 仪器买卖与分销 | 普通股300,000新加坡元 | |||
| Mobicon-Remote Electronic Sdn. Bhd. | Malaysia, limited liability company | Trading and distribution of electronic components, electrical components and equipment in Malaysia | Ordinary Malaysian Ringgit 1,000,000 | 95% | 95% |
| 马来西亚，有限公司 | 于马来西亚进行电子元件、电气元件及 仪器买卖与分销 | 普通股1,000,000 马来西亚林吉特 | |||
万保刚集团有限公司 – 二零二四/二零二五年年报
For the year ended 31st March 2025 截至二零二五年三月三十一日止年度
Notes to the Consolidated Financial Statements
综合财务报表附注
17 主要附属公司（续）
Note:
(i) The subsidiary has a financial year-end date falling on 31st December
in accordance with the local statutory requirements, which is not
coterminous with the Group. The consolidated financial statements of the
Group were prepared based on the financial statements of the subsidiary
for the twelve months ended 31st March 2025 and 2024.
The above table lists the subsidiaries of the Group which, in the
opinion of the directors, principally affect the results or assets
of the Group. To give details of other subsidiaries would, in the
opinion of the directors, result in particulars of excessive length.
None of the subsidiaries had any loan capital in issue at any time
during the year ended 31st March 2025 (2024: Nil).
17 Principal Subsidiaries (continued)
附注：
(i) 根据当地法定规定，该附属公司之财政
年度结算日为十二月三十一日，与本集
团并不一致。本集团之综合财务报表乃
根据该附属公司截至二零二五年及二零
二四年三月三十一日止十二个月之财务
报表编制。
上表列出董事认为对本集团的业绩或资
产有主要影响的本集团附属公司。董事
认为，若一并提供其他附属公司的详情
会造成篇幅过于冗长。
各附属公司于截至二零二五年三月
三十一日止年度内任何时间概无任何已
发行之借贷资本（二零二四年：无）。
| Name | Place of incorporation and kind of legal entity | Principal activities and place of operations | Particulars of issued share capital/registered capital | Proportion of ownership interest held by the Group | |
|---|---|---|---|---|---|
| 名称 | 注册成立地点及 法定实体类别 | 主要业务及 营运地点 | 已发行股本╱ 注册资本详情 | 本集团所持拥有权 权益百分比 | |
| 2025 | 2024 | ||||
| 二零二五年 | 二零二四年 | ||||
| Swan Electrical (Pty) Limited | Republic of South Africa, limited liability company | Trading and distribution of electronic components, electrical components and equipment in South Africa | Ordinary ZAR 100 | 55% | 55% |
| 南非共和国，有限公司 | 于南非进行电子元件、电气元件及 仪器买卖与分销 | 普通股100南非兰特 | |||
| Videocom Technology (HK) Limited | Hong Kong, limited liability company | Trading of cosmetic products in Hong Kong | Ordinary HK$2 | 100% | 100% |
| 脑博仕（香港）有限公司 | 香港，有限公司 | 于香港进行化妆品买卖 | 普通股2港元 | ||
Mobicon Group Limited – Annual Report 2024/2025
For the year ended 31st March 2025 截至二零二五年三月三十一日止年度
Notes to the Consolidated Financial Statements
综合财务报表附注
17 Principal Subsidiaries (continued)
The table below shows details of a non-wholly-owned subsidiaries
of the Group that has material non-controlling interests:
Summarized financial information on the subsidiaries with
material non-controlling interests
Set out below are the summarized financial information for the
subsidiaries, Mobicon-Mantech Group that has a non-controlling
interests that is material to the Group.
Summarized consolidated statement of financial position
17 主要附属公司（续）
下表列出本集团拥有重大非控股权益之
非全资附属公司之详情：
具有重大非控股权益之附属公司之财务
资料概要
下文载列附属公司Mobicon-Mantech集团之
财务资料概要。Mobicon-Mantech集团具有
对本集团而言属重大之非控股权益。
综合财务状况表概要
| Name of subsidiaries | Place of incorporation and principal place of business | Proportion of ownership interests and voting rights held by non-controlling interests | Profit attributable to non-controlling interests | Accumulated non-controlling interests | |||
|---|---|---|---|---|---|---|---|
| 附属公司名称 | 注册成立地点及 主要营业地点 | 由非控股权益持有之所有权 权益及投票权比例 | 非控股权益应占溢利 | 累计非控股权益 | |||
| 2025 | 2024 | 2025 | 2024 | 2025 | 2024 | ||
| 二零二五年 | 二零二四年 | 二零二五年 | 二零二四年 | 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | HK$’000 | HK$’000 | HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | 千港元 | 千港元 | 千港元 | 千港元 | ||
| Mobicon-Mantech Holdings Limited and its subsidiaries (“Mobicon-Mantech Group”) Mobicon-Mantech Holdings Limited 及其附属公司（「Mobicon- Mantech集团」） | South Africa 南非 | 39% | 39% | 1,592 | 6,405 | 35,550 | 42,375 |
| Individually immaterial subsidiaries with non- controlling interests 持有非控股权益的个别 非重大附属公司 | 10,925 | 11,248 | |||||
| 46,475 | 53,623 | ||||||
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| Current | 流动 | ||
| Assets | 资产 | 81,646 | 83,126 |
| Liabilities | 负 债 | (28,679) | (29,550) |
| Total net current assets | 流 动资产净值总计 | 52,967 | 53,576 |
万保刚集团有限公司 – 二零二四/二零二五年年报
For the year ended 31st March 2025 截至二零二五年三月三十一日止年度
Notes to the Consolidated Financial Statements
综合财务报表附注
17 主要附属公司（续）
具有重大非控股权益之附属公司之财务
资料概要（续）
综合财务状况表概要（续）
17 Principal Subsidiaries (continued)
Summarized financial information on the subsidiaries with
material non-controlling interests (continued)
Summarized statement of consolidated financial position
(continued)
Summarized consolidated statement of profit or loss and other
comprehensive income
综合损益及其他全面收益表概要
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| Non-current | 非流动 | ||
| Assets | 资产 | 43,882 | 45,364 |
| Liabilities | 负 债 | (3,094) | (7,782) |
| Total net non-current assets | 非 流动资产净值总额 | 40,788 | 37,582 |
| Net assets | 资 产净值 | 93,755 | 91,158 |
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| Revenue | 收益 | 103,921 | 119,446 |
| Profit before income tax | 除所得税前溢利 | 5,037 | 15,662 |
| Income tax expense | 所得税开支 | (1,366) | (4,346) |
| Profit for the year | 年内溢利 | 3,671 | 11,316 |
| Other comprehensive income/(expense) | 其他全面收入╱（开支） | 1,266 | (3,671) |
| Total comprehensive income for the year | 年内全面收入总额 | 4,937 | 7,645 |
| Total comprehensive income allocated to non-controlling interests | 分配予非控股权益之全面 收入总额 | 2,085 | 4,975 |
Mobicon Group Limited – Annual Report 2024/2025
For the year ended 31st March 2025 截至二零二五年三月三十一日止年度
Notes to the Consolidated Financial Statements
综合财务报表附注
17 主要附属公司（续）
具有重大非控股权益之附属公司之财务
资料概要（续）
综合现金流量表概要
17 Principal Subsidiaries (continued)
Summarized financial information on the subsidiaries with
material non-controlling interests (continued)
Summarized consolidated statement of cash flows
The information above is the amount before inter-company
eliminations.
18 Inventories
For the year ended 31st March 2024, the reversal of impairment
of inventories made in prior years arose due to an increase in the
estimated realizable value of certain products as a result of a
change in customer demand.
上述资料为作出集团内公司间对销前之
金额。
18 存货
截至二零二四年三月三十一日止年度，
于往年作出的存货减值拨回，乃因客户
要求改变，令若干产品的估计可变现价
值增加所致。
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| Cash flows from operating activities | 经营业务产生之现金流量 | ||
| Cash generated from operations | 经营业务产生之现金 | 8,969 | 11,662 |
| Overseas income tax paid | 已 付海外所得税 | (3,740) | (3,588) |
| Net cash generated from operating activities | 经营业务产生之现金净额 | 5,229 | 8,074 |
| Net cash used in investing activities | 投资活动动用之现金净额 | (917) | (988) |
| Net cash used in financing activities | 融 资活动动用之现金净额 | (6,995) | (5,318) |
| Net (decrease)/increase in cash and cash equivalents | 现金及现金等值物 （减少）╱增加净额 | (2,683) | 1,768 |
| Cash and cash equivalents at beginning of the year | 年初之现金及现金等值物 | 6,459 | 5,005 |
| Effect of foreign exchange rate changes | 汇 率变动之影响 | 166 | (314) |
| Cash and cash equivalents at end of the year | 年 终之现金及现金等值物 | 3,942 | 6,459 |
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| Electronic components, electrical components and equipment | 电子元件、电气元件及 仪器 | 126,813 | 131,443 |
| Computer products and mobile accessories | 电脑产品及手机配件 | 9,997 | 11,138 |
| Cosmetic products | 化 妆品 | 4,837 | 5,857 |
| 141,647 | 148,438 |
万保刚集团有限公司 – 二零二四/二零二五年年报
For the year ended 31st March 2025 截至二零二五年三月三十一日止年度
Notes to the Consolidated Financial Statements
综合财务报表附注
19 应收贸易账款
本集团一般给予其客户之售货信贷期由7
至90日不等。按到期日呈列之应收贸易账
款（已扣除信贷亏损拨备）账龄分析如下：
19 Trade Receivables
The Group normally grants to its customers credit periods for
sales of goods ranging from 7 to 90 days. The following is an aged
analysis of trade receivables, net of allowance for credit losses,
presented based on due dates:
The maximum exposure to credit risk at the reporting date is the
fair values of trade receivables. There is no concentration of credit
risk with respect to trade receivables as the Group has a large
number of customers. The Group does not hold any collateral as
security in respect of its trade receivables.
The Group applies the HKFRS 9 simplified approach to measure
lifetime ECL allowance for all trade receivables.
Information about the impairment of trade receivables and the
Group’s exposure to credit risk can be found in Note 3.1(b).
于报告日期所承受之最高信贷风险为应
收贸易账款之公平值。由于本集团客户
数目众多，故应收贸易账款并无信贷集
中风险。本集团并无就其应收贸易账款
持有任何抵押品作为抵押。
本集团应用香港财务报告准则第9号下的
简化法来计量所有应收贸易账款的全期
预期信贷亏损拨备。
有关应收贸易账款减值及本集团面对的
信贷风险的资料载于附注3.1(b)。
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| 0 to 30 days | 0至30日 | 21,037 | 22,941 |
| 31 to 60 days | 31至60日 | 2,008 | 2,486 |
| 61 to 90 days | 6 1至90日 | 1,596 | 1,868 |
| 24,641 | 27,295 |
Mobicon Group Limited – Annual Report 2024/2025
For the year ended 31st March 2025 截至二零二五年三月三十一日止年度
Notes to the Consolidated Financial Statements
综合财务报表附注
20 现金及银行结余20 Cash and Bank Balances
Cash and bank balances of the Group include an amount of
approximately HK$481,000 (2024: approximately HK$1,306,000)
was denominated in Renminbi and kept in Mainland China. The
conversion of these Renminbi denominated balances into foreign
currencies and the remittance of these funds out of Mainland
China is subject to the rules and regulations of foreign exchange
control promulgated by the PRC government.
21 Trade Payables
The aging analysis of trade payables presented based on the
invoice date is as follows:
The credit period on purchases of goods is ranging from 30 to 90
days.
22 Loan From a Shareholder
The amount is unsecured, interest-free and repayable on demand.
本集团之现金及银行结余包括约481,000
港元（二零二四年：约1,306,000港元）以人
民币计值及存放于中国内地之款项。若
拟兑换该等以人民币计值之结余为外币
及把该等资金汇出中国内地，则须受中
国政府颁布的外汇管制法规及规例所规
限。
21 应付贸易账款
按票据日期呈列之应付贸易账款账龄分
析如下：
购买货品之信贷期介乎30至90日。
22 来自一名股东之贷款
有关款项为无抵押、免息及须应要求偿
还。
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| Cash at bank and in hand | 银 行及手头现金 | 25,935 | 23,658 |
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| 0 to 60 days | 零至60日 | 12,655 | 12,860 |
| 61 to 120 days | 61至120日 | 661 | 529 |
| 121 to 180 days | 121至180日 | 1,289 | 780 |
| 181 to 365 days | 1 81至365日 | 1,016 | 1,034 |
| 15,621 | 15,203 |
万保刚集团有限公司 – 二零二四/二零二五年年报
For the year ended 31st March 2025 截至二零二五年三月三十一日止年度
Notes to the Consolidated Financial Statements
综合财务报表附注
23 Bank Borrowings
Note:
(i) Bank loans under supplier finance arrangements
The Group has entered into certain supplier finance arrangements with
banks. Under these arrangements, the banks pay suppliers the amounts
owed by the Group in advance of the original due dates by the suppliers.
The Group’s obligations to suppliers are legally extinguished on settlement
by the relevant banks. The Group then settles with the banks within 90
days after settlement by the banks with interest ranges from 5.78% to
7.59% (2024: from 5.43% to 7.63%), which may be extended beyond the
original due dates of respective invoices. The interest rates are consistent
with the Group’s short-term borrowing rates.
Taking into consideration of the nature and substance of the above
arrangements, the Group presents payables to the banks under these
arrangements as “bank borrowings” in the consolidated statement of
financial position. In the consolidated statement of cash flows, repayments
to the banks are included within financing cash flows based on the nature
of the arrangements, and payments to the suppliers by the banks are
disclosed as non-cash transactions.
23 银行借贷
附注：
(i) 供应商融资安排下的贷款
本集团与多间银行订立若干供应商融资
安排。在该等安排下，银行在供应商原
定到期日之前，垫付本集团结欠供应商
款项。本集团对供应商的责任在相关银
行结付时，在法律上已经终止。其后本
集团在银行结付后90天内向银行结付，
利率介乎5.78%至7.59%（二零二四年：介
乎5.43%至7.63%），可延长至相关发票原
定到期日之后。利率与本集团短期借贷
利率一致。
考虑到上述安排的性质与内容，本集团
在综合财务状况表将该等安排项下应付
银行款项呈到为「银行借贷」。于综合现
金流量表内，偿还银行款项乃根据安排
性质计入融资现金流，而银行向供应商
付款则披露为非现金交易。
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| Bank loans | 银行贷款 | 13,984 | 16,164 |
| Bank overdrafts | 银行透支 | 1,247 | – |
| Bank loans under supplier finance arrangements (Note (i)) | 供应商融资安排下之 银行贷款（附注(i)） | 10,610 | 9,624 |
| 25,841 | 25,788 |
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| The carrying amounts of the above borrowings are repayable | 以上借贷账面值之偿还情况 | ||
| Within one year | 一年内 | 25,841 | 23,145 |
| Within a period of more than one year but not exceeding two years | 超过一年但不超过两年 | – | 1,436 |
| Within a period of more than two years but not exceeding five years | 超过两年但不超过五年 | – | 1,207 |
| 25,841 | 25,788 | ||
Mobicon Group Limited – Annual Report 2024/2025
For the year ended 31st March 2025 截至二零二五年三月三十一日止年度
Notes to the Consolidated Financial Statements
综合财务报表附注
23 Bank Borrowings (continued)
Bank borrowings are denominated in the following currencies:
The effective interest rates of the bank borrowings at the reporting
date range from approximately 3.08% to 12.7% (2024: 3.08% to
12.4%).
The Group’s certain banking facilities are secured by the leasehold
properties and freehold lands and buildings (Note 14), investment
properties (Note 15) of the Group and a personal guarantee given
by a non-controlling interest of certain subsidiaries.
24 Deferred Tax Assets/Liabilities
Analysis of deferred tax liabilities as follows:
23 银行借贷（续）
银行借贷以下列货币计值：
于报告日期，银行借贷之实际利率介乎
约3.08%至12.7%（二零二四年：3.08%至
12.4%）。
本集团若干银行融资乃以本集团之租赁
物业和永久业权土地及楼宇（附注14）、投
资物业（附注15）及由若干附属公司的非控
股权益提供的个人担保作抵押。
24 递延税项资产╱负债
递延税项负债分析如下：
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| Hong Kong dollar | 港元 | 21,802 | 18,824 |
| Euro | 欧罗 | 2,359 | 3,041 |
| South African Rand | 南 非兰特 | 1,680 | 3,923 |
| 25,841 | 25,788 |
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| Deferred tax liabilities | 递 延税项负债 | 967 | 1,208 |
万保刚集团有限公司 – 二零二四/二零二五年年报
For the year ended 31st March 2025 截至二零二五年三月三十一日止年度
Notes to the Consolidated Financial Statements
综合财务报表附注
24 Deferred Tax Assets/Liabilities (continued)
The movements in deferred tax liabilities/(assets) during the year
were as follows:
25 Share Capital
25 股本
24 递延税项资产╱负债（续）
递延税项负债╱（资产）于年内之变动如
下：
| Inventories | Right-of-use assets | Lease liabilities | Accelerated capital allowances | Total | ||
|---|---|---|---|---|---|---|
| 存货 | 使用权资产 | 租赁负债 | 加速 资本拨备 | 总计 | ||
| HK’000 | HK’000 | HK’000 | HK’000 | HK’000 | ||
| 千港元 | 千港元 | 千港元 | 千港元 | 千港元 | ||
| As at 31st March 2023 and 1st April 2023 (restated) | 于二零二三年 三月三十一日及 二零二三年四月一日 （经重列） | 675 | 350 | (350) | 525 | 1,200 |
| Exchange differences | 汇兑差额 | (39) | (16) | 16 | (34) | (73) |
| (Credited)/charged to （ consolidated statement of profit or loss | 计入）综合损益表╱ 自综合损益表扣除 | (317) | (181) | 181 | 398 | 81 |
| As at 31st March 2024 and 1st April 2024 | 于二零二四年 三月三十一日及 二零二四年四月一日 | 319 | 153 | (153) | 889 | 1,208 |
| Exchange differences | 汇兑差额 | 11 | (1) | 1 | 19 | 30 |
| (Credited)/charged to （ consolidated statement of profit or loss | 计入）综合损益表╱ 自综合损益表扣除 | (330) | (152) | 152 | 59 | (271) |
| As at 31st March 2025 | 于二零二五年 三月三十一日 | – | – | – | 967 | 967 |
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| Authorized: | 法定： | ||
| 2,000,000,000 ordinary shares of HK$0.10 each | 2,000,000,000股每股面值0.10 港元之普通股 | 200,000 | 200,000 |
| Issued and fully paid: | 已发行及缴足： | ||
| 200,000,000 ordinary shares of HK$0.10 each | 200,000,000股每股面值0.10 港元之普通股 | 20,000 | 20,000 |
Mobicon Group Limited – Annual Report 2024/2025
For the year ended 31st March 2025 截至二零二五年三月三十一日止年度
Notes to the Consolidated Financial Statements
综合财务报表附注
26 Notes to the Consolidated Statement of
Cash Flows
Reconciliation of profit before income tax to net cash generated
from operations:
26 综合现金流量表附注
除所得税前溢利与经营业务产生之现金
净额之对账：
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| (Loss)/profit before income tax | 除所得税前（亏损）╱溢利 | (8,875) | 6,394 |
| Adjustments for: | 以下项目之调整： | ||
| – Amortization of intangible assets | －无形资产摊销 | 93 | 62 |
| – Depreciation of property, plant and equipment | －物业、厂房及设备折旧 | 2,424 | 2,337 |
| – Depreciation of right-of-use assets | －使用权资产折旧 | 4,173 | 5,685 |
| – Gain on disposal of property, plant and equipment | －出售物业、厂房及设备 之收益 | (162) | (26) |
| – Interest income | －利息收入 | (443) | (718) |
| – Interest expense | －利息开支 | 2,753 | 3,870 |
| – Provision/(reversal of provision) for impairment of slow-moving inventories | －滞销存货减值 拨备╱（拨回拨备） | 1,444 | (4,279) |
| – Provision for impairment of trade receivables | －应收贸易账款减值拨备 | 406 | 781 |
| – Reversal of provision for impairment of trade receivables | －应收贸易账款减值拨备 拨回 | (246) | (867) |
| – Fair value gain on investment properties | －投资物业公平值收益 | (116) | (58) |
| Changes in working capital: | 营运资金变动： | ||
| – Inventories | －存货 | 7,811 | 18,459 |
| – Trade receivables | －应收贸易账款 | 2,604 | 9,532 |
| – Prepayments, deposits and other receivables | －预付款项、按金及其他 应收款项 | 2,122 | 4,040 |
| – Trade payables | －应付贸易账款 | 360 | (13,993) |
| – Other payables and accruals | －其他应付款项及应计费用 | (1,499) | (5,277) |
| – Contract liabilities | －合约负债 | (16) | 85 |
| Net cash generated from operations | 经 营业务产生之现金净额 | 12,833 | 26,027 |
万保刚集团有限公司 – 二零二四/二零二五年年报
For the year ended 31st March 2025 截至二零二五年三月三十一日止年度
Notes to the Consolidated Financial Statements
综合财务报表附注
26 Notes to the Consolidated Statement of
Cash Flows (continued)
Reconciliation of liabilities arising from financing
activities
The table below details changes in the Group’s liabilities from
financing activities, including both cash and non-cash changes.
Liabilities arising from financing activities are liabilities for which
cash flows were, or future cash flows will be, classified in the
Group’s consolidated cash flow statement as cash flows from
financing activities.
Major non-cash transaction
During the year ended 31st March 2025, a deemed contribution
from a shareholder amounting to approximately HK$3,000,000
arising from the extinguishment of a substaintial shareholder loan,
was recognized as a capital contribution.
26 综合现金流量表附注（续）
融资活动产生之负债对账
下表载列本集团融资活动产生之负债之
变动详情，包括现金及非现金变动。融
资活动产生之负债为曾于或将于本集团
综合现金流量表内分类为融资活动之现
金流量之负债。
主要非现金交易
截至二零二五年三月三十一日止年度，
豁免主要股东贷款产生的视作股东出资
约3,000,000港元已确认为注资。
| Loan from a shareholder | Lease liabilities | Bank borrowings | Total | ||
|---|---|---|---|---|---|
| 来自一名 股东之贷款 | 租赁负债 | 银行借款 | 总计 | ||
| HK$’000 | HK$’000 | HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | 千港元 | 千港元 | ||
| As at 1st April 2024 | 于二零二四年四月一日 | 39,000 | 5,101 | 25,788 | 69,889 |
| New lease entered | 订立新租约 | – | 2,145 | – | 2,145 |
| Financing cash flow | 融资现金流量 | 3,820 | (4,574) | (2,350) | (3,104) |
| Deemed contribution from a shareholder from extinguished loan | 豁免贷款产生的 视作股东出资 | (3,000) | – | – | (3,000) |
| Interest expense | 利息开支 | – | 453 | 2,300 | 2,753 |
| Exchange differences | 汇 兑差额 | – | 63 | 103 | 166 |
| As at 31st March 2025 | 于 二零二五年三月三十一日 | 39,820 | 3,188 | 25,841 | 68,849 |
| As at 1st April 2023 | 于二零二三年四月一日 | 31,000 | 8,954 | 49,624 | 89,578 |
| New lease entered | 订立新租约 | – | 3,342 | – | 3,342 |
| Financing cash flow | 融资现金流量 | 8,000 | (6,448) | (26,870) | (25,318) |
| Cancellation of leases | 取消租赁 | – | (912) | – | (912) |
| Interest expense | 利息开支 | – | 445 | 3,425 | 3,870 |
| Exchange differences | 汇 兑差额 | – | (280) | (391) | (671) |
| As at 31st March 2024 | 于 二零二四年三月三十一日 | 39,000 | 5,101 | 25,788 | 69,889 |
Mobicon Group Limited – Annual Report 2024/2025
For the year ended 31st March 2025 截至二零二五年三月三十一日止年度
Notes to the Consolidated Financial Statements
综合财务报表附注
27 Operating Leasing Arrangements
The Group as lessor
As at 31st March 2025 and 2024, the Group have future minimum
lease receivables under non-cancellable leases with third parties.
Operating lease receivables represent rentals receivable by the
Group for its investment properties. Lease periods are two years.
28 Related Party Transactions
Save as disclosed elsewhere in these financial statements, the
Group had the following significant related party transactions
during the year:
(a) Particulars of significant transactions between the Group and
related parties are summarized below:
27 经营租赁安排
本集团作为出租人
于二零二五年及二零二四年三月三十一
日，根据本集团与第三方订立之不可撤
销租赁，本集团可于日后收取最低租赁
应收款项。
经营租赁应收款项指本集团就其投资物
业应收之租金。租期为期两年。
28 关联人士交易
除此等财务报表其他部分所披露者外，
本集团于年内曾进行以下重大关联人士
交易：
(a) 本集团与关联人士进行之重大交易详情
概述如下：
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| Minimum operating lease payments receivable: | 经营租赁最低应收款项： | ||
| Within 1 year | 一年内 | 300 | 136 |
| After 1 year but within 2 years | 一 年后但两年内 | 163 | – |
| 463 | 136 | ||
| 2025 | 2024 | |||
|---|---|---|---|---|
| 二零二五年 | 二零二四年 | |||
| Notes | HK$’000 | HK$’000 | ||
| 附注 | 千港元 | 千港元 | ||
| Rental expenses to M-Bar Limited | 付予M-Bar Limited之租金 开支 | (i), (v) | – | – |
| Sales to PC Supply Limited and its subsidiaries (“PC Supply Group”) | 向资电网有限公司及 其附属公司（「资电网 集团」）销售 | (ii) | 139 | 126 |
| Purchases from PC Supply Group | 从资电网集团采购 | (ii) | 171 | 343 |
| Commission income received from PC Supply Group | 自资电网集团收取之 佣金收入 | (iii) | 3 | 3 |
| Commission expense paid to PC Supply Group | 已支付资电网集团之 佣金开支 | (iii) | 328 | 312 |
| Management fee paid to PC Supply Group | 已支付资电网集团之 管理费 | (iv) | 84 | 84 |
万保刚集团有限公司 – 二零二四/二零二五年年报
For the year ended 31st March 2025 截至二零二五年三月三十一日止年度
Notes to the Consolidated Financial Statements
综合财务报表附注
28 Related Party Transactions (continued)
(a) (continued)
Notes:
(i) M-Bar Limited is a wholly-owned subsidiary of Mobicon Electronic
Supplies Company Limited, a company beneficially owned by Dr. Hung Kim
Fung, Measure (30%), Ms. Yeung Man Yi, Beryl (30%), Mr. Hung Ying Fung
(20%) and Mr. Yeung Kwok Leung, Allix (20%), directors and substantial
shareholders of the Company. The lease agreements with M-Bar Limited
were entered into at terms agreed between the contracting parties.
(ii) PC Supply Limited is owned as to 99.99% and 0.01% by A Plus Computer
Shop Limited (“A Plus”) and Ms. Yeung Man Yi, Beryl respectively. A Plus is
beneficially owned by Dr. Hung Kim Fung, Measure (30%), Ms. Yeung Man
Yi, Beryl (30%), Mr. Hung Ying Fung (20%) and Mr. Yeung Kwok Leung,
Allix (20%), directors and substantial shareholders of the Company. Sales
to and purchases from PC Supply Group were conducted in the normal
course of business at terms as agreed between the contracting parties.
(iii) Commission income/expense received from PC Supply Group was
conducted in the normal course of business at terms as agreed between
the contracting parties.
(iv) Management fee paid to PC Supply Group was conducted in the normal
course of business at terms as agreed between the contracting parties.
(v) The lease agreements entered into between M-Bar Limited and Mobicon
Holdings Limited constitute exempted continuing connected transactions
as defined in Chapter 14A of the Listing Rules. M-Bar Limited has agreed
to waive the rent during the year ended 31st March 2024 and 31st March
2025.
(b) Included in other receivables of the Group as at 31st March 2025,
were rental deposits paid to M-Bar Limited of approximately
HK$464,000 (2024: approximately HK$464,000).
Included in other payable of the Group as at 31st March 2025,
were rental expenses payable to M-Bar Limited of approximately
HK$2,320,000 (2024: approximately HK$2,320,000).
28 关联人士交易（续）
(a) （续）
附注：
(i) M-Bar Limited为Mobicon Electronic Supplies
Company Limited之全资附属公司，该公
司由本公司董事兼主要股东洪剑峰博士
(30%)、杨敏仪女士(30%)、洪英峰先生
(20%)及杨国梁先生(20%)实益拥有。与
M-Bar Limited订立之租赁协议乃按订约各
方协定之条款订立。
(ii) 资电网有限公司分别由香港电脑店有限
公司（「香港电脑店」）及杨敏仪女士拥有
99.99%及0.01%权益。香港电脑店由本公
司董事兼主要股东洪剑峰博士(30%)、杨
敏仪女士(30%)、洪英峰先生(20%)及杨国
梁先生(20%)实益拥有。与资电网集团进
行之销售及采购交易均于一般业务过程
中按订约各方协定之条款进行。
(iii) 自资电网集团收取之佣金收入╱开支乃
于一般业务过程中按订约各方协定之条
款收取。
(iv) 已支付资电网集团之管理费乃于一般业
务过程中按订约各方协定之条款支付。
(v) M-Bar Limited与万保刚集团有限公司订立
之租赁协议构成上市规则第14A章所界定
之获豁免持续关连交易。M-Bar Limited已
同意于截至二零二四年三月三十一日及
二零二五年三月三十一日止年度豁免租
金。
(b) 于二零二五年三月三十一日，本集团其
他应收款项包括已支付M-Bar Limited之租
金按金约464,000港元（二零二四年：约
464,000港元）。
于二零二五年三月三十一日，本集团其
他应付款项包括应付M-Bar Limited之租
金开支约2,320,000港元（二零二四年：约
2,320,000港元）。
Mobicon Group Limited – Annual Report 2024/2025
For the year ended 31st March 2025 截至二零二五年三月三十一日止年度
Notes to the Consolidated Financial Statements
综合财务报表附注
28 Related Party Transactions (continued)
(c) Included in other payables of the Group were amounts due to
minority shareholders of certain subsidiaries of approximately
HK$7,264,000 (2024: approximately HK$7,460,000).
The amount of approximately HK$6,289,000 (2024: approximately
HK$4,862,000) are unsecured, interest-free and repayable on
demand. The remaining amount of approximately HK$975,000
(2024: approximately HK$2,598,000) are unsecured, interest-free
and repayable after one year.
(d) Key management compensation
Further details of directors’ emoluments are included in Note 13 to
the consolidated financial statements.
29 Transaction with Non-controlling Interests
On 30th June 2024, the Group acquired an additional 25% of equity
interest in Switch Technique KZN Proprietary Limited, a non-
wholly owned subsidiary of the Company, at a cash consideration
of approximately Rand2,800,000 (equivalent to approximately
HK$1,199,000).
28 关联人士交易（续）
(c) 本集团其他应付款项包括应付若干附属
公司少数股东款项约7,264,000港元（二零
二四年：约7,460,000港元）。
该笔款项约6,289,000港元（二零二四年：
约4,862,000港元）为无抵押、免息及按要
求偿还。余额约975,000港元（二零二四
年：约2,598,000港元）为无抵押、免息及
于一年后偿还。
(d) 主要管理人员报酬
董事薪酬之进一步详情载于综合财务报
表附注13。
29 涉及非控股权益之交易
于二零二四年六月三十日，本集团额
外收购本公司非全资附属公司Switch
Technique KZN Proprietary Limited 25%股权，
现金代价约为2,800,000兰特（相等于约
1,199,000港元）。
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| Salaries, allowances and other benefits in kind | 薪金、津贴及其他实物 福利 | – | – |
| Employer’s contributions to defined contribution scheme | 雇员向定额供款计划的 供款 | – | – |
| – | – |
万保刚集团有限公司 – 二零二四/二零二五年年报
For the year ended 31st March 2025 截至二零二五年三月三十一日止年度
Notes to the Consolidated Financial Statements
综合财务报表附注
30 Statement of Financial Position of the
Company and Movement of Reserves of the
Company
As at 31st March 2025
(a) Statement of financial position of the Company
The statement of financial position of the Company were approved
and authorized for issue by the Board of Directors on 25th June
2025 and signed on its behalf by:
HUNG KIM FUNG, MEASUREYEUNG MAN YI, BERYL
洪剑峰杨敏仪
ChairmanDeputy Chairman and Chief Executive Officer
主席副主席兼行政总裁
30 本公司财务状况表及本公司
之储备变动
于二零二五年三月三十一日
(a) 本公司之财务状况表
本公司之财务状况表已于二零二五年六
月二十五日获董事会批准及授权刊发，
并由下列董事代表董事会签署：
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| Non-current asset | 非流动资产 | ||
| Investments in subsidiaries | 于 附属公司之投资 | 100,640 | 100,640 |
| 100,640 | 100,640 | ||
| Current assets | 流动资产 | ||
| Cash and bank balances | 现 金及银行结余 | 152 | 153 |
| 152 | 153 | ||
| Total assets | 资 产总值 | 100,792 | 100,793 |
| Current liabilities | 流动负债 | ||
| Other payables and accruals | 其他应付款项及应计费用 | 22 | 22 |
| Amount due to a subsidiary | 应 付一间附属公司款项 | 4,247 | 2,242 |
| 4,269 | 2,264 | ||
| Net current liabilities | 流 动负债净值 | (4,117) | (2,111) |
| Total assets less current liabilities | 资 产总值减流动负债 | 96,523 | 98,529 |
| Net assets | 资 产净值 | 96,523 | 98,529 |
| Capital and reserves attributable to the equity holders of the Company | 本公司权益持有人应占 股本及储备 | ||
| Share capital | 股本 | 20,000 | 20,000 |
| Reserves | 储 备 | 76,523 | 78,529 |
| Total equity | 权 益总额 | 96,523 | 98,529 |
Mobicon Group Limited – Annual Report 2024/2025
For the year ended 31st March 2025 截至二零二五年三月三十一日止年度
Notes to the Consolidated Financial Statements
综合财务报表附注
30 Statement of Financial Position of the
Company and Movement of Reserves of the
Company (continued)
As at 31st March 2025 (continued)
(b) Movement of reserves of the Company
Note: Contributed surplus represents the difference between the nominal value
of the ordinary shares issued by the Company and the net asset value
of subsidiaries acquired through exchanges of shares pursuant to the
reorganization which took place on 18th April 2001.
30 本公司财务状况表及本公司
之储备变动（续）
于二零二五年三月三十一日（续）
(b) 本公司之储备变动
附注： 缴入盈余指本公司所发行普通股之面值
与根据二零零一年四月十八日进行之重
组交换股份所得附属公司之资产净值之
差额。
| Share premium | Contributed surplus | Accumulated loss | Total | ||
|---|---|---|---|---|---|
| 股份溢价 | 缴入盈余 | 累积亏损 | 总计 | ||
| HK$’000 | HK$’000 | HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | 千港元 | 千港元 | ||
| (Note) | |||||
| （附注） | |||||
| Balance at 1st April 2023 | 于二零二三年四月一日 之结余 | 16,706 | 67,097 | (3,268) | 80,535 |
| Loss for the year | 年内亏损 | – | – | (6) | (6) |
| Dividends | 股 息 | – | – | (2,000) | (2,000) |
| Balance at 31st March 2024 | 于二零二四年 三月三十一日之结余 | 16,706 | 67,097 | (5,274) | 78,529 |
| Balance at 1st April 2024 | 于二零二四年四月一日 之结余 | 16,706 | 67,097 | (5,274) | 78,529 |
| Loss for the year | 年内亏损 | – | – | (6) | (6) |
| Dividends | 股 息 | – | – | (2,000) | (2,000) |
| Balance at 31st March 2025 | 于二零二五年 三月三十一日之结余 | 16,706 | 67,097 | (7,280) | 76,523 |
| Representing: | 代表： | ||||
| 2025 final dividend | 二零二五年末期股息 | 500 | |||
| Others | 其 他 | (7,780) | |||
| (7,280) | |||||
万保刚集团有限公司 – 二零二四/二零二五年年报
Financial Summary
财务概要
A summary of the published results and of the assets and liabilities of the
Group for the last five financial years is set out below:
Results
本集团过去五个财政年度之已公布业绩及资产与
负债概要载列如下：
业绩
| Year ended 31st March | ||||||
|---|---|---|---|---|---|---|
| 截至三月三十一日止年度 | ||||||
| 2025 | 2024 | 2023 | 2022 | 2021 | ||
| 二零二五年 | 二零二四年 | 二零二三年 | 二零二二年 | 二零二一年 | ||
| HK$’000 | HK$’000 | HK$’000 | HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | 千港元 | 千港元 | 千港元 | ||
| Revenue | 收 益 | 287,322 | 340,579 | 410,421 | 501,269 | 456,369 |
| (Loss)/profit before income tax | 除所得税前 （亏损）╱溢利 | (8,875) | 6,394 | 9,230 | 27,436 | 20,539 |
| Income tax expense | 所 得税开支 | (1,605) | (4,643) | (3,961) | (6,296) | (1,950) |
| (Loss)/profit for the year | 年 内（亏损）╱溢利 | (10,480) | 1,751 | 5,269 | 21,140 | 18,589 |
| Attributable to: | 下列人士应占： | |||||
| Equity holders of the Company | 本公司权益持有人 | (11,764) | (4,891) | (378) | 13,211 | 12,151 |
| Non-controlling interests | 非 控股权益 | 1,284 | 6,642 | 5,647 | 7,929 | 6,438 |
| (10,480) | 1,751 | 5,269 | 21,140 | 18,589 | ||
Mobicon Group Limited – Annual Report 2024/2025
Financial Summary
财务概要
Assets and Liabilities
资产及负债
| As at 31st March | ||||||
|---|---|---|---|---|---|---|
| 于三月三十一日 | ||||||
| 2025 | 2024 | 2023 | 2022 | 2021 | ||
| 二零二五年 | 二零二四年 | 二零二三年 | 二零二二年 | 二零二一年 | ||
| 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 | ||
| Property, plant and equipment | 物业、厂房及设备 | 47,808 | 48,623 | 51,811 | 39,316 | 29,107 |
| Right-of-use assets | 使用权资产 | 2,986 | 4,952 | 8,468 | 8,741 | 6,937 |
| Intangible assets | 无形资产 | 187 | 100 | 137 | 138 | 92 |
| Investment properties | 投资物业 | 5,274 | 5,160 | 5,196 | 4,685 | 4,623 |
| Goodwill | 商誉 | – | – | – | – | – |
| Prepayments and deposits | 预付款项及按金 | 106 | 953 | 1,945 | 2,016 | 2,688 |
| Current assets | 流 动资产 | 206,766 | 214,095 | 252,536 | 301,029 | 291,032 |
| Total assets | 资 产总值 | 263,127 | 273,883 | 320,093 | 355,925 | 334,479 |
| Current liabilities | 流 动负债 | (100,628) | (99,452) | (134,883) | (162,695) | (156,833) |
| Net current assets | 流 动资产净值 | 106,138 | 114,643 | 117,653 | 138,334 | 134,199 |
| Total assets less current liabilities | 资产总值减 流动负债 | 162,499 | 174,431 | 185,210 | 193,230 | 177,646 |
| Non-current liabilities | 非 流动负债 | (3,359) | (7,783) | (12,536) | (5,061) | (4,771) |
| Net assets | 资 产净值 | 159,140 | 166,648 | 172,674 | 188,169 | 172,875 |
| Capital and reserves attributable to the equity holders of the Company | 本公司权益持有人 应占股本及储备 | |||||
| Share capital | 股本 | 20,000 | 20,000 | 20,000 | 20,000 | 20,000 |
| Reserves | 储 备 | 92,665 | 93,025 | 103,527 | 117,279 | 105,155 |
| 112,665 | 113,025 | 123,527 | 137,279 | 125,155 | ||
| Non-controlling interests | 非 控股权益 | 46,475 | 53,623 | 49,147 | 50,890 | 47,720 |
| Total equity | 权 益总额 | 159,140 | 166,648 | 172,674 | 188,169 | 172,875 |