01621 域高国际控股 财务报表/环境、社会及管治资料：2024/2025年报
Anual Report
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CONTENTS
目录
CORPORATE INFORMATION公司资料2
STATEMENT FROM THE CHAIRMAN主席报告书4
MANAGEMENT DISCUSION AND ANALYSIS管理层讨论及分析6
BIOGRAPHICAL DETAILS OF DIRECTORS AND SENIOR MANAGEMENT董事及高级管理层履历详情14
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT环境、社会及管治报告22
CORPORATE GOVERNANCE REPORT企业管治报告68
DIRECTORS’ REPORT董事会报告97
INDEPENDENT AUDITOR’S REPORT独立核数师报告113
CONSOLIDATED STATEMENT OF PROFIT OR LOS AND
OTHER COMPREHENSIVE INCOME
综合损益及其他全面收益表120
CONSOLIDATED STATEMENT OF FINANCIAL POSITION综合财务状况表121
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY综合权益变动表123
CONSOLIDATED STATEMENT OF CASH FLOWS综合现金流量表124
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS综合财务报表附注126
FIVE-YEAR FINANCIAL SUMARY五年财务概要239
CORPORATE INFORMATION
公司资料
2Vico International Holdings Limited Anual Report 2024/2025
BOARD OF DIRECTORS
Executive Directors
Mr. HUI Pui Sing (Chairman)
Ms. TONG Man Wah
Mr. HUI Yip Ho Eric (Chief Executive Oficer)
Mr. KONG Man Ho
Non-executive Director
Mr. WONG Chun Man
Independent non-executive Directors
Mr. LEUNG Ho Chi
Mr. CHAN Ching Sum
Ms. NG Wing Sze Vince
AUDIT COMITE
Mr. LEUNG Ho Chi (Chairman)
Mr. CHAN Ching Sum
Ms. NG Wing Sze Vince
REMUNERATION COMITE
Mr. LEUNG Ho Chi (Chairman)
Mr. HUI Yip Ho Eric
Ms. NG Wing Sze Vince
NOMINATION COMITE
Mr. HUI Pui Sing (Chairman)
Mr. LEUNG Ho Chi
Mr. CHAN Ching Sum
Ms. NG Wing Sze Vince (Apointed on 28 March 2025)
AUTHORISED REPRESENTATIVES
Mr. HUI Yip Ho Eric
Mr. KONG Man Ho
COMPANY SECRETARY
Ms. CHAN Sze Ting (FCG, HKFCG)
董事会
执行董事
许沛盛先生（主席）
汤敏华女士
许业豪先生（行政总裁）
江文豪先生
非执行董事
王俊文先生
独立非执行董事
梁浩志先生
陈政深先生
吴颖思女士
审核委员会
梁浩志先生（主席）
陈政深先生
吴颖思女士
薪酬委员会
梁浩志先生（主席）
许业豪先生
吴颖思女士
提名委员会
许沛盛先生（主席）
梁浩志先生
陈政深先生
吴颖思女士（于二零二五年三月二十八日获委任）
授权代表
许业豪先生
江文豪先生
公司秘书
陈诗婷女士(FCG, HKFCG)
32024/2025年报 域高国际控股有限公司
CORPORATE INFORMATION
公司资料
注册办事处
P.O. Box 31119 Grand Pavilion, Hibiscus Way
802 West Bay Road, Grand Cayman, KY1-1205
Cayman Islands
总办事处及香港主要营业地点
香港长沙湾
长裕街10号
亿京广场二期11楼D室
香港证券登记及过户分处
卓佳证券登记有限公司
香港夏悫道16号
远东金融中心17楼
开曼群岛证券登记及过户总处
Vistra (Cayman) Limited
P.O. Box 31119 Grand Pavilion, Hibiscus Way
802 West Bay Road, Grand Cayman, KY1-1205
Cayman Islands
核数师
栢淳会计师事务所有限公司
（前称上会栢诚会计师事务所有限公司）
执业会计师
注册公众利益实体核数师
香港
九龙尖沙咀
天文台道8号1903A–1905室
主要往来银行
中国银行（香港）有限公司
创兴银行有限公司
股份代号
公司网站
w.vicointernational.hk
REGISTERED OFICE
P.O. Box 31119 Grand Pavilion, Hibiscus Way
802 West Bay Road, Grand Cayman, KY1-1205
Cayman Islands
HEAD OFICE AND PRINCIPAL PLACE OF BUSINES
IN HONG KONG
Unit D, 11/F, Bilion Plaza I
No. 10 Cheung Yue Stret
Cheung Sha Wan, Hong Kong
HONG KONG BRANCH SHARE REGISTRAR AND
TRANSFER OFICE
Tricor Investor Services Limited
17/F, Far East Finance Centre
16 Harcourt Road, Hong Kong
CAYMAN ISLANDS PRINCIPAL SHARE REGISTRAR
AND TRANSFER OFICE
Vistra (Cayman) Limited
P.O. Box 31119 Grand Pavilion, Hibiscus Way
802 West Bay Road, Grand Cayman, KY1-1205
Cayman Islands
AUDITOR
Prism Hong Kong Limited
(Formerly known as Prism Hong Kong and Shanghai Limited)
Certified Public Acountants
Registered Public Interest Entity Auditor
Units 1903A–1905, 8 Observatory Road
Tsim Sha Tsui, Kowlon
Hong Kong
PRINCIPAL BANKERS
Bank of China (Hong Kong) Limited
Chong Hing Bank Limited
STOCK CODE
COMPANY WEBSITE
w.vicointernational.hk
STATEMENT FROM THE CHAIRMAN
主席报告书
4Vico International Holdings Limited Anual Report 2024/2025
Dear Shareholders,
On behalf of the board (the “Board”) of directors (the
“Directors” and each a “Director”) of Vico International
Holdings Limited (the “Company”), I am pleased to present the
anual report of the Company and its subsidiaries (colectively,
the “Group”) for the year ended 31 March 2025 (the “Curent
Period”).
During the Curent Period, the Group maintained stable
operations acros its core busineses in Hong Kong, including
the sale of diesel and lubricant oil, and the provision of flet
card services. Despite persistent market headwinds, such
as subdued consumer spending and ongoing geopolitical
tensions, the Group recorded total revenue of aproximately
HK$1,544.8 milion and gros profit of aproximately HK$45.9
milion.
Hong Kong’s economy registered moderate growth, with
GDP rising by 3.1% in the first quarter of 2025. Nonetheles,
the busines environment remained chalenging due to
weak domestic sentiment, rising operational costs, and the
postponement of major public development projects by the
government. The recent escalation of U.S. tarifs on gods
from China and Hong Kong also placed aditional presure on
regional trade and logistics.
To mitigate these chalenges, the Group tok proactive steps
to strengthen operational agility and cost control. In response
to the evolving energy landscape and the increasing adoption
of electric vehicles, the Group refined its product focus.
While diesel demand faced continued presure, lubricant
oil remained a resilient source of revenue, suported by
transportation and industrial sectors.
Loking ahead, the Group remains cautiously optimistic.
Diversification wil continue to be a core strategy, and we are
exploring oportunities to expand our lubricant oil busines
into selected overseas markets. In paralel, we plan to
enhance our digital capabilities and explore the integration of
artificial inteligence to drive eficiency and improve customer
experience.
各位股东：
本人谨代表域高国际控股有限公司（「本公司」）董
事（「董事」及各为一位「董事」）会（「董事会」）欣然呈
报本公司及其附属公司（统称「本集团」）截至二零
二五年三月三十一日止年度（「本期间」）之年报。
于本期间，本集团于香港的核心业务维持稳定经
营，包括销售柴油及润滑油以及提供车队咭服
务。尽管市场不利因素持续存在，例如消费意欲
低迷及地缘政治紧张局势绵延，本集团录得总收
益约1,544,800,000港元及毛利约45,900,000港
元。
香港经济呈现温和增长，二零二五年第一季度本
地生产总值上升3.1%。然而，由于本地市场情绪
疲弱、营运成本攀升及政府推迟多项大型公共发
展项目，营商环境仍充满挑战。美国近期对中国
及香港货品加征关税，更进一步为区域贸易与物
流带来额外压力。
为应对该等挑战，本集团采取积极措施以强化营
运灵活性及成本管控。因应能源格局的演变与电
动车普及率提升，本集团已调整产品策略。尽管
柴油需求持续承压，润滑油在运输及工业领域的
支撑下，仍维持稳健的收益表现。
展望未来，本集团保持审慎乐观态度。多元化将
继续成为核心策略，我们正寻找机会，将润滑油
业务扩展至选定的海外市场。与此同时，我们计
划提升数码能力并探讨人工智能的整合，以提升
效率及改善客户体验。
52024/2025年报 域高国际控股有限公司
STATEMENT FROM THE CHAIRMAN
主席报告书
On behalf of the Board, I would like to extend my heartfelt
gratitude to our employes for their unwavering dedication, our
customers for their continued suport, and our shareholders
for their trust in our vision. Together, we wil strive to overcome
the chalenges and achieve greater milestones in the coming
years. Thank you for your ongoing suport.
HUI Pui Sing
Chairman
Hong Kong, 26 June 2025
本人谨代表董事会衷心地感谢员工的坚定奉献、
客户的持续支持以及股东对我们愿景的信任。在
未来的岁月里，我们将携手努力，克服挑战，取
得更大成就。感谢大家一直以来的支持。
主席
许沛盛
香港，二零二五年六月二十六日
MANAGEMENT DISCUSION AND ANALYSIS
管理层讨论及分析
6Vico International Holdings Limited Anual Report 2024/2025
业务回顾
本集团主要从事于香港分销第三方品牌石油化工
产品、销售自有品牌润滑油及提供车队咭服务。
本集团的石油化工产品包括(i)柴油；(i)润滑油（包
括自有品牌润滑油及第三方品牌润滑油）；及(i)
其他石油化工产品，例如沥青。
本集团向海外供应商采购成批半制成润滑油及成
品润滑油，供我们内部调合及重新包装为批发和
零售装，以在香港销售。
本集团亦为车队咭的经授权代理商。于二零二五
年三月三十一日，本集团合共管理45,648个车队
咭账户（二零二四年：53,406个车队咭账户）。
凭借本集团的经验及竞争优势，于本期间，本集
团的收益、毛利及纯利分别为约1,544,800,000
港元、45,900,000港元及12,300,000港元，较相
应期间分别减少3.2%、5.0%及27.1%。本期间溢
利下降乃主要由于油价下跌，而这会直接影响收
益。收益下降与营运成本不变之间的不平衡导致
整体盈利显著下降。
BUSINES REVIEW
The Group is principaly engaged in the distribution of third-
party branded petrochemicals, the sales of the self-branded
lubricant oil and provides flet card services in Hong Kong.
The petrochemical products of the Group include (i) diesel; (i)
lubricant oil (including self-branded lubricant oil and third-party
branded lubricant oil); and (i) other petrochemicals such as
bitumen.
The Group sourced semi-finished lubricant oil in bulk volume
and finished lubricant oil from overseas supliers for the in-
house blending and repackaging into wholesale and retail
packs for sales in Hong Kong.
The Group is also an authorized reseler of flet cards. As at 31
March 2025, the Group operated a total number of 45,648 flet
card acounts (2024: 53,406 flet card acounts).
Leveraging on the Group’s experience and competitive
strengths, for the Curent Period, the Group’s revenue,
gros profit, and net profit were aproximately HK$1,544.8
milion, HK$45.9 milion, and HK$12.3 milion, respectively
representing a decrease of 3.2%, decrease of 5.0%, and
decrease of 27.1%, respectively as compared with the
Coresponding Period. The decline in profit for the Curent
Period was primarily driven by the drop in oil prices, which
directly impacted revenue. This imbalance betwen faling
revenue and unchanged operating costs led to a notable
reduction in overal profitability.
72024/2025年报 域高国际控股有限公司
MANAGEMENT DISCUSION AND ANALYSIS
管理层讨论及分析
业务前景
展望二零二五年及二零二六年，本集团对前景保
持审慎乐观态度。香港经济已出现稳步复苏的迹
象，预计全年本地生产总值增长介乎2%至3%。
然而，不利因素仍然存在，包括消费意欲低迷、
公共建设发展项目搁置及地缘政治不明朗因素增
加。
近期美国加强对中国及香港征收关税，继续影响
区域贸易动态。物流及营运成本上涨，加之转口
贸易活动疲弱，预期短期内将令燃料消费增长放
缓。本集团仍保持警觉并将主动调整业务计划，
以管理该等风险。
于车队咭服务领域，向电动车的过渡及环保政策
的收紧正在重塑燃料的使用模式。尽管该等趋势
可能会影响传统燃料需求，对于内燃车、混合动
力车以及工业及制造应用而言，润滑油仍至关重
要。
为争取新增长，本集团正积极寻找机会，将其润
滑油业务扩展至选定的海外市场。此多元化策略
旨在减少对本地需求的依赖，并提高收益的稳定
性。
营运效率及可持续发展仍是本集团的主要策略重
点。本集团将继续提升其数码能力，包括人工智
能的潜在整合，以加强服务提供及优化车队管
理。可持续发展工作将集中于提高能源效率及推
广对环境负责的营运。
尽管不确定因素持续存在，本集团的应变能力、
市场经验及策略灵活性，使其有能力面对不断演
变的挑战，并为股东追求长期价值。
BUSINES PROSPECTS
Loking ahead to 2025 and 2026, the Group maintains a
cautiously optimistic outlok. Hong Kong’s economy has
shown signs of steady recovery, with ful-year GDP growth
projected betwen 2% and 3%. Nonetheles, headwinds
persist, including subdued consumer sentiment, the
postponement of public construction development projects
and rising geopolitical uncertainties.
The recent intensification of U.S. tarifs on China and Hong
Kong continues to afect regional trade dynamics. Higher
logistics and operating costs, coupled with weaker entrepôt
activity, are expected to moderate fuel consumption growth
in the near term. The Group remains vigilant and wil adjust
busines plans proactively to manage these risks.
In the flet card services sector, the transition towards electric
vehicles and tightening environmental policies are reshaping
fuel usage paterns. While these trends may impact traditional
fuel demand, lubricant oil remains esential for internal
combustion and hybrid vehicles, as wel as for industrial and
manufacturing aplications.
To capture new growth, the Group is actively exploring
oportunities to expand its lubricant oil busines into selected
overseas markets. This diversification strategy aims to reduce
reliance on local demand and enhance revenue stability.
Operational eficiency and sustainability remain key strategic
priorities of the Group. The Group wil continue to advance
its digital capabilities, including the potential integration of
artificial inteligence, to enhance service delivery and optimise
flet management. Sustainability eforts wil focus on improving
energy eficiency and promoting environmentaly responsible
operations.
Despite ongoing uncertainties, the Group’s resilience,
market experience, and strategic agility position it wel to
navigate evolving chalenges and pursue long-term value for
shareholders.
8Vico International Holdings Limited Anual Report 2024/2025
MANAGEMENT DISCUSION AND ANALYSIS
管理层讨论及分析
财务回顾
收益
于本期间，本集团之收益为1,544,800,000港元，
较相应期间之1,595,100,000港元减少3.2%。收
益减少乃主要由于油价于本期间有所减少。
柴油销售
销售柴油的收益指销售柴油产品，主要包括汽车
柴油及工业用柴油。于本期间及相应期间，销售
柴油产生之收益分别约为1,469,000,000港元及
1,511,500,000港元，分别占总收益的95.1%及
94.8%。
柴油的销量由相应期间的269,700,000升增加约
9.5%至本期间的295,300,000升。增长放缓继续
受惠于运输及物流活动的复苏，尤其是跨境贸易
及货运。
润滑油销售
润滑油的收益主要指销售润滑油，主要包括(i)销
售自有品牌润滑油，即「美力宝(AMERICO)」、「油
博士(Dr. Lubricant)」及「U-LUBRICANT」；及(i)
销售第三方品牌润滑油。于本期间及相应期间，
我们来自销售润滑油的收益分别约为39,300,000
港元及44,400,000港元，分别占总收益的2.5%及
2.8%。
我们于本期间及相应期间的润滑油销量分别约
为2,000,000升及1,700,000升，相当于增加约
17.6%。
FINANCIAL REVIEW
Revenue
During the Curent Period, the Group’s revenue amounted to
HK$1,544.8 milion, which decreased by 3.2% as compared
to that of HK$1,595.1 milion during the Coresponding Period.
The decrease in revenue was mainly due to the decrease in oil
price during the Curent Period.
Sales of diesel
Our revenue from sales of diesel represents the sales
of our diesel products, which mainly include automotive
diesel and industrial diesel. For the Curent Period and the
Coresponding Period, our revenue generated from the sales
of diesel amounted to aproximately HK$1,469.0 milion and
HK$1,511.5 milion respectively, representing 95.1% and
94.8% of the total revenue respectively.
The sales quantity of diesel oil increased by aproximately
9.5% from 269.7 milion litres for the Coresponding Period to
295.3 milion litres for the Curent Period. The slowed growth
continued to benefit from the recovery in transportation and
logistics activities, particularly in cros-border trade and freight
movement.
Sales of lubricant oil
Our revenue from lubricant oil mainly represents the sales
of lubricant oil, which mainly include (i) the sales of our self-
branded lubricant oil, namely “AMERICO”, “Dr. Lubricant”
and “U-LUBRICANT”; and (i) the sales of third-party branded
lubricant oil. For the Curent Period and the Coresponding
Period, our revenue from the sales of lubricant oil amounted
to aproximately HK$39.3 milion and HK$44.4 milion
respectively, representing 2.5% and 2.8% of the total revenue
respectively.
Our sales quantity of lubricant oil amounted to aproximately
2.0 milion litres and 1.7 milion litres for the Curent Period
and the Coresponding Period respectively, representing a
increase of aproximately 17.6%.
92024/2025年报 域高国际控股有限公司
MANAGEMENT DISCUSION AND ANALYSIS
管理层讨论及分析
提供车队咭服务
我们提供车队咭服务所产生的收入乃根据(a)已收
及应收车队咭持有人的所得款项总额；及(b)已付
及应付石油公司的款项总额之间的差额，以净额
确认。已收及应收车队咭持有人的所得款项总额
指入油价减本集团向车队咭持有人提供的车队咭
折价。车队咭客户主要使用车队咭于网络油站购
买柴油及汽油。
于本期间及相应期间，我们的车队咭服务产生
的收益分别约为31,000,000港元及33,500,000港
元，分别占总收益的2.0%及2.1%。
销售其他产品
我们来自其他产品的收益主要指销售沥青及煤
油。于本期间及相应期间，我们来自销售其他产
品的收益分别约为5,500,000港元及5,700,000港
元，各自均占总收益的0.4%。
销售成本
销售成本主要包括柴油成本、润滑油成本、其他
石油化工产品成本及销售佣金。我们的柴油及第
三方润滑油采购成本取决于燃油供应商提供的当
地采购价，经参考欧洲布伦特原油现货价格等价
格指标。
于本期间及相应期间，我们的销售成本分别约为
1,498,900,000港元及1,546,700,000港元，相当
于减少约3.1%。本期间的销售成本变化趋势大致
上与收益同步。
Provision of flet cards service
Our income from the provision of flet cards service is
recognised on a net basis, based on the diference betwen
(a) gros proceds received and receivables from flet card
holders; and (b) gros amounts paid and payable to oil
companies. The gros proceds received and receivables
from flet card holders represent the pump price les the flet
card discount ofered by our Group to flet card holders. Our
flet card customers used our flet cards primarily for the
purchase of diesel and petrol at network gas stations.
For the Curent Period and the Coresponding Period, our
revenue generated from the flet cards service amounted
to aproximately HK$31.0 milion and HK$33.5 milion
respectively, representing 2.0% and 2.1% of the total revenue
respectively.
Sales of others
Our revenue from other products mainly represents the sales
of bitumen and kerosene. For the Curent Period and the
Coresponding Period, our revenue from the sales of others
amounted to aproximately HK$5.5 milion and HK$5.7 milion
respectively, both individualy representing 0.4% of the total
revenue.
Cost of sales
Our cost of sales primarily consists of diesel costs, lubricant oil
costs, other petrochemicals costs and sales comisions. Our
purchase cost for diesel and third-party lubricant oil depends
on the domestic purchase price ofered by our oil supliers,
with reference to the price index such as Europe Brent spot
crude price.
For the Curent Period and the Coresponding Period, our
cost of sales amounted to aproximately HK1,498.9 milion
and HK$1,546.7 milion respectively, representing a decrease
of aproximately 3.1%. The trend of movement of our cost
of sales for the Curent Period was generaly in line with the
revenue.
10Vico International Holdings Limited Anual Report 2024/2025
MANAGEMENT DISCUSION AND ANALYSIS
管理层讨论及分析
毛利及毛利率
毛利代表本集团的收益减销售成本。本集团
录得毛利由相应期间的约48,300,000港元减
少约2,400,000港元或约5.0%至本期间的约
45,900,000港元。本集团的毛利率于本期间及相
应期间保持不变，均为3.0%。
销售及分销开支
销售及分销开支主要包括货车司机的成本及福
利以及折旧。销售及分销开支由相应期间的
4,700,000港元增加约600,000港元或13.6%至本
期间的5,300,000港元。该增加主要由于年内佣金
开支增加所致。
行政及营运开支
行政开支由相应期间的约23,700,000港元增加约
2,100,000港元或8.9%至本期间的约25,800,000港
元，主要由于贸易及其他应收款项的减值略微变
动所致。
融资成本
融资成本主要包括计息银行借贷及透支以及租赁
负债的利息。融资成本由相应期间的1,500,000
港元减少约300,000港元或18.5%至本期间的
1,200,000港元，主要由于不断完成融资租赁协议
所致。
所得税开支
所得税开支由相应期间的约4,400,000港元减少约
1,300,000港元或30.1%至本期间的约3,100,000港
元。有关减少乃由于年内须缴纳所得税的溢利下
降所致。
Gros profit and gros profit margin
The gros profit represented the Group’s revenue les cost
of sales. The Group recorded a decrease in gros profit by
aproximately HK$2.4 milion or aproximately 5.0% from
aproximately HK$48.3 milion for the Coresponding Period
to aproximately HK$45.9 milion for the Curent Period. The
Group’s gros profit margin remains 3.0% for the Curent
Period and Coresponding Period.
Seling and distribution expenses
Our seling and distribution expenses mainly consist of truck
drivers’ costs and benefits and depreciation. Seling and
distribution expenses increased by aproximately HK$0.6
milion or 13.6% to HK$5.3 milion for the Curent Period from
HK$4.7 milion for the Coresponding Period. The increase was
mainly due to the rise of comision expense during the year.
Administrative and operating expenses
Administrative expenses increased by aproximately HK$2.1
milion or 8.9%, from aproximately HK$23.7 milion for the
Coresponding Period to aproximately HK$25.8 milion for
the Curent Period, primarily due to the slightly change in the
impairment on trade and other receivables.
Finance costs
Our finance costs mainly consist of the interest on our interest-
bearing bank borowings and overdrafts and lease liabilities.
Finance costs decreased by aproximately HK$0.3 milion or
18.5% to HK$1.2 milion for the Curent Period from HK$1.5
milion for the Coresponding Period, primarily due to the
ongoing completion of finance lease agrements.
Income tax expense
Income tax expense decreased by aproximately HK$1.3
milion or 30.1% from aproximately HK$4.4 milion for the
Coresponding Period to aproximately HK$3.1 milion for the
Curent Period. The decrease was atributable to a reduction in
profit subject to income tax for the year.
112024/2025年报 域高国际控股有限公司
MANAGEMENT DISCUSION AND ANALYSIS
管理层讨论及分析
本期间溢利
本期间纯利由相应期间的约16,900,000港元
减少约4,600,000港元或27.1%至本期间的约
12,300,000港元，而本集团之纯利率则由相应期
间的约1.1%减少至本期间的0.8%。本集团的纯利
轻微减少。本公司的整体盈利较相应期间仅轻微
改善。
雇员及薪酬政策
于二零二五年三月三十一日，本集团合共聘用28
名全职雇员（于二零二四年三月三十一日︰31名
全职雇员）。本集团根据其雇员之表现、经验及当
前行业惯例支付彼等薪酬。薪酬待遇须予定期检
讨。
购买、出售及赎回上市证券
本期间，本公司或其任何附属公司概无购买、出
售或赎回本公司任何上市证券（包括出售库存股份
（「库存股份」）（定义见上市规则）。于二零二五年
三月三十一日，本公司并无持有任何库存股份。
末期股息
董事会不建议就截至二零二五年三月三十一日止
年度派付末期股息（二零二四年：无）。
Profit for the Curent Period
Net profit for the Curent Period decreased by aproximately
HK$4.6 milion or 27.1% from aproximately HK$16.9 milion
for the Coresponding Period to aproximately HK$12.3 milion
for the Curent Period, and the Group’s net profit margin
decreased from aproximately 1.1% for the Coresponding
Period to 0.8% for the Curent Period. The decrease in the
Group’s net profit was minimal. There was only a slight
improvement in the Company’s overal profitability compared
to Coresponding Period.
EMPLOYES AND REMUNERATION POLICIES
As at 31 March 2025, the Group employed a total of 28 ful time
employes (As at 31 March 2024: 31 ful time employes). The
Group remunerates its employes based on their performance,
experience and prevailing industry practice. The remuneration
packages are subject to review on a regular basis.
PURCHASE, SALE AND REDEMPTION OF LISTED
SECURITIES
During the Curent Period, neither the Company nor any of
its subsidiaries has purchased, sold or redemed any of the
Company’s listed securities (including sales of treasury shares
(the “Treasury Shares”) within the meaning under the Listing
Rules). As at 31 March 2025, the Company did not hold any
Treasury Shares.
FINAL DIVIDEND
The Board does not recomend the payment of final dividend
for the year ended 31 March 2025 (2024: Nil).
12Vico International Holdings Limited Anual Report 2024/2025
MANAGEMENT DISCUSION AND ANALYSIS
管理层讨论及分析
暂停办理过户登记
本公司计划于二零二五年九月十日举行二零二五
年股东周年大会（「股东周年大会」）。为厘定出席
股东周年大会之资格，本公司将于二零二五年九
月五日至二零二五年九月十日（包括首尾两日）期
间暂停办理过户登记，期间将不会办理本公司之
股份过户登记手续。为符合资格出席股东周年大
会及于会上投票，所有过户文件连同相关股票须
在不迟于二零二五年九月四日下午四时三十分递
交予本公司之香港股份过户登记分处卓佳证券登
记有限公司，地址为香港夏悫道16号远东金融中
心17楼，以办理登记。厘定有权出席股东周年大
会并于会上投票之股东资格之记录日期为二零二
五年九月十日。
重大投资、重大收购及出售附属公司
本集团于本期间并无重大投资、重大收购或出售
附属公司。
流动资金及资本资源
本集团主要透过经营活动产生之现金以及计息
银行借贷及透支为其营运提供资金。本集团于
二零二五年三月三十一日录得流动资产净值约
109,400,000港元，而于二零二四年三月三十一日
则为约92,200,000港元。
于二零二五年三月三十一日，本集团之流动资产
约为158,300,000港元（二零二四年：142,000,000
港元），其中约62,200,000港元（二零二四年：
34,200,000港元）为银行结余、约63,100,000港
元（二零二四年：90,300,000港元）为贸易及其他
应收款项。本集团之流动负债约为49,000,000港
元（二零二四年：49,800,000港元），包括贸易及
其他应付款项约11,200,000港元（二零二四年：
10,400,000港元）、银行借贷及透支约35,200,000
港元（二零二四年：34,400,000港元）及应付所
得税约500,000港元（二零二四年：4,200,000港
元）。于二零二五年三月三十一日，流动比率（以
流动资产除以流动负债计算）为3.2（二零二四年：
2.9）。于二零二五年三月三十一日，资产负债
比率（根据总债务及租赁负债除以总权益再乘以
100%计算）为23.6%（二零二四年：24.2%）。
CLOSURE OF REGISTER OF MEMBERS
The 2025 Anual General Meting (the “AGM”) of the
Company is scheduled to be held on 10 September 2025. For
the purpose of determining the entitlement to atend the AGM,
the register of members of the Company wil be closed during
the period from 5 September 2025 to 10 September 2025, both
days inclusive, during which period no transfer of share(s) of
the Company wil be efected. In order to qualify for atending
and voting at the AGM, al transfer document(s), acompanied
by the relevant share certificate(s), must be lodged with
the Company’s branch share registrar in Hong Kong, Tricor
Investor Services Limited of 17/F, Far East Finance Centre, 16
Harcourt Road, Hong Kong for registration not later than 4:30
p.m. on 4 September 2025. The record date for determining
the entitlement of shareholders to atend and vote at the AGM
is 10 September 2025.
SIGNIFICANT INVESTMENT, MATERIAL
ACQUISITION AND DISPOSAL OF SUBSIDIARIES
The Group had no significant investment, material acquisition
or disposal of subsidiaries during the Curent Period.
LIQUIDITY AND CAPITAL RESOURCES
The Group finances its operations primarily through cash
generated from operating activities and interest-bearing bank
borowings and overdrafts. The Group recorded net curent
asets of aproximately HK$109.4 milion as at 31 March 2025,
compared to aproximately HK$92.2 milion as at 31 March
2024.
As at 31 March 2025, the Group’s curent asets amounted to
aproximately HK$158.3 milion (2024: HK$142.0 milion) of
which aproximately HK$62.2 milion (2024: HK$34.2 milion)
was bank balances, aproximately HK$63.1 milion (2024:
HK$90.3 milion) was trade and other receivables. The Group’s
curent liabilities amounted to aproximately HK$49.0 milion
(2024: HK$49.8 milion), including trade and other payables in
the amount of aproximately HK$11.2 milion (2024: HK$10.4
milion), bank borowings and overdrafts in the amount of
aproximately HK$35.2 milion (2024: HK$34.4 milion) and
income tax payable in the amount of aproximately HK$0.5
milion (2024: HK$4.2 milion). The curent ratio (which was
calculated by dividing curent asets by curent liabilities) was
3.2 as at 31 March 2025 (2024: 2.9). The gearing ratio (which
was calculated based on the total debt and lease liabilities
divided by total equity multiplied by 100%) was 23.6% as at 31
March 2025 (2024: 24.2%).
132024/2025年报 域高国际控股有限公司
MANAGEMENT DISCUSION AND ANALYSIS
管理层讨论及分析
资本架构
本集团于本期间之资本架构包括本公司拥有人应
占权益约232,400,000港元。本集团之资本架构于
本期间概无变动。
或然负债
于二零二四年及二零二五年三月三十一日，本集
团透过获授的银行融资向一名供应商发出担保
书，为数4,000,000港元。该融资由本公司之公司
担保作为抵押。
资产抵押
于二零二五年三月三十一日，本集团分别质押
其租赁土地及楼宇113,900,000港元及投资物业
6,400,000港元（二零二四年：分别为119,008,000
港元及7,197,000港元），以作为其银行借贷的抵
押。
外汇风险
只要港元与美元挂钩，本集团毋须就港元兑美元
承受外汇风险。以美元计值的交易及货币资产极
少，故本集团认为并无有关美元的重大外汇风
险。
于二零二五年三月三十一日，本集团并无订立任
何安排以对冲其外汇风险。本集团的经营现金流
量并无承受外汇波动风险。
Capital structure
For the Curent Period, the capital structure of the Group
consisted of equity atributable to owners of the Company of
aproximately HK$232.4 milion. There has ben no change in
the capital structure of the Group during the Curent Period.
CONTINGENT LIABILITIES
As at 31 March 2024 and 2025, the Group had isued a
leter of guarante through the banking facilities granted, to a
suplier amounting to HK$4,000,000. The facilities are secured
by corporate guarante of the Company.
PLEDGE OF ASETS
As at 31 March 2025, the Group pledged its leasehold land
and building of HK$113,900,000 and investment property
of HK$6,400,000 respectively (2024: HK$119,008,000 and
HK$7,197,000 respectively) to secure its bank borowings.
FOREIGN CURENCY RISK
The Group is not exposed to foreign curency risk in respect
of HKD against USD as long as these curencies are peged.
The transactions and monetary asets denominated in USD are
minimal, the Group considers there have no significant foreign
exchange risk in respect of USD.
As at 31 March 2025, the Group had not entered into any
arangements to hedge its foreign curency risk. The Group’s
operating cash flow is not exposed to foreign exchange
fluctuation risks.
BIOGRAPHICAL DETAILS OF DIRECTORS AND SENIOR MANAGEMENT
董事及高级管理层履历详情
14Vico International Holdings Limited Anual Report 2024/2025
EXECUTIVE DIRECTORS
Mr. HUI Pui Sing (许沛盛), aged 69, Chairman
Mr. Hui Pui Sing (“Mr. Hui”) was apointed as a Director on 24
March 2017 and was re-designated as an executive Director
on 23 June 2017. Mr. Hui is the founder of our Group, the
Chairman of the Board and the Nomination Comite of the
Company, a director of Carmen Logistics Limited (“Carmen
Logistics”), Grand Wealthy Holdings Limited (“Grand
Wealthy”), Ye Sing Hong Petroleum Chemicals Company
Limited (“Ye Sing Hong”) and Ye Sing Logistics Company
Limited (“Ye Sing Logistics”) and the general manager
of Ye Sing Hong. He is primarily responsible for corporate
strategic planing and overal busines development,
management of our Group and decision making, and busines
development strategies. From 1977, he worked as an asistant
in a company the principal busines of which is the seling of
liquefied petroleum gas and kerosene. In 1977, he established
a company the principal busines of which is the sale of
hydrocarbon oils and in 2002, he established Ye Sing Hong.
He has over 53 years of experience in the sales and distribution
of diesel, lubricant oil and other petrochemical products and
over 21 years of experience in the procesing and distribution
of self-branded lubricant oil and other petrochemical products
and the promotion of flet cards. Mr. Hui is a director of Max
Fortune Holdings Limited (“Max Fortune”), the controling
shareholder of the Company. He is the spouse of Ms. Tong
Man Wah (“Ms. Tong”), and the father of Mr. Hui Yip Ho Eric
(“Mr. Eric Hui”).
执行董事
许沛盛先生，69岁，主席
许沛盛先生（「许先生」）于二零一七年三月二十四
日获委任为董事，并于二零一七年六月二十三日
调任为执行董事。许先生为本集团的创办人、本
公司董事会及提名委员会主席、裕豪物流有限公
司（「裕豪物流」）、骏汇集团有限公司（「骏汇」）、义
盛行石油化工有限公司（「义盛行」）及义盛物流运
输有限公司（「义盛物流运输」）的董事及义盛行总
经理。彼主要负责本集团的企业策略规划及整体
业务发展、管理及决策和业务发展策略。自一九
七年起，彼于一间公司担任助理，其主要业务
为出售石油气及煤油。于一九七年，彼成立了
一间公司，主要业务为销售碳氢油及于二零二
年，彼成立了义盛行。彼于销售及分销柴油、润
滑油及其他石油化工产品拥有逾53年经验，并于
加工及分销自有品牌润滑油及其他石油化工产品
和推广车队咭拥有逾21年经验。许先生为本公司
控股东骏朗控股有限公司（「骏朗」）的董事。彼
为汤敏华女士（「汤女士」）的配偶和许业豪先生
（「许业豪先生」）的父亲。
152024/2025年报 域高国际控股有限公司
BIOGRAPHICAL DETAILS OF DIRECTORS AND SENIOR MANAGEMENT
董事及高级管理层履历详情
汤敏华女士，63岁，执行董事
汤女士于二零一七年三月二十四日获委任为董
事，并于二零一七年六月二十三日调任为执行董
事。汤女士为亿晖（香港）有限公司（「亿晖」）、裕
豪物流、骏汇、佃丰行集团有限公司（「佃丰行」）
及义盛行的董事和义盛行及义盛物流运输的行政
经理。彼主要负责监督有关本集团分销、品牌建
设及供应商关系的管理及发展策略。彼于销售及
分销柴油、润滑油及其他石油化工产品拥有逾40
年经验。自一九八五年起，彼于许先生成立的公
司任职，其主要业务为销售碳氢油，负责销售及
分销石油化工产品；其后继续协助许先生销售及
分销本集团的柴油及其他石油化工产品。彼于一
九八零年在圣玛利奥英文中学毕业。彼为许先生
的配偶和许业豪先生的母亲。
许业豪先生，34岁，行政总裁
许业豪先生于二零一七年三月二十四日获委任为
董事，并于二零一七年六月二十三日调任为执行
董事。许业豪先生为佃丰行、义盛行及义盛物
流运输的董事及裕豪物流、义盛物流运输、义盛
行、骏汇、亿晖及佃丰行的总经理。许业豪先生
为本集团行政总裁及本公司薪酬委员会成员，彼
主要负责监督香港的车队咭业务营运及本集团的
整体企业管理及业务发展策略。彼于二零一三年
加入本集团，于推广车队咭和销售及分销柴油、
润滑油及其他石油化工产品拥有12年经验。彼于
二零一三年八月在南方卫理公会大学取得工商管
理（金融）学士学位，并于二零一七年三月在香港
理工大学取得金融硕士学位。彼持有地产代理监
管局于二零一七年二月授出的地产代理牌照。许
业豪先生为骏朗的董事。彼为许先生及汤女士的
儿子。
Ms. TONG Man Wah (汤敏华), aged 63, Executive Director
Ms. Tong was apointed as a Director on 24 March 2017 and
was re-designated as an executive Director on 23 June 2017.
Ms. Tong is a director of Bilion Faith (Hong Kong) Limited
(“Bilion Faith”), Carmen Logistics, Grand Wealthy, Tien Fung
Hong Holdings Limited (“Tien Fung Hong”) and Ye Sing
Hong and the administration manager of Ye Sing Hong and
Ye Sing Logistics. She is primarily responsible for overseing
the administration and developing strategies in relation to
distribution, brand building and suplier relationships of our
Group. She has over 40 years of experience in the sales and
distribution of diesel, lubricant oil and other petrochemical
products. She worked in a company established by Mr. Hui
whose principal busines is the sale of hydrocarbon oils since
1985, responsible for the operations of the sale and distribution
of petrochemical products and thereafter continued to
asist Mr. Hui in the sale and distribution of diesel and other
petrochemical products of the Group. She graduated from St.
Marino Secondary Schol in 1980. She is the spouse of Mr. Hui
and the mother of Mr. Eric Hui.
Mr. HUI Yip Ho, Eric (许业豪), aged 34, Chief Executive
Oficer
Mr. Eric Hui was apointed as a Director on 24 March 2017
and was re-designated as an executive Director on 23 June
2017. Mr. Eric Hui is a director of Tien Fung Hong, Ye Sing
Hong and Ye Sing Logistics and the general manager of
Carmen Logistics, Ye Sing Logistics, Ye Sing Hong, Grand
Wealthy, Bilion Faith and Tien Fung Hong. Mr. Eric Hui is the
Chief Executive Oficer of our Group and a member of the
Remuneration Comite of the Company. He is primarily
responsible for overseing the operation of our flet cards
busines in Hong Kong and our Group’s overal corporate
management and busines development strategies. He
joined our Group in 2013 and has 12 years of experience in
the promotion of flet cards and the sales and distribution
of diesel, lubricant oil and other petrochemical products. He
received a Bachelor of Busines Administration (finance)
degre from the Southern Methodist University in August 2013
and a master degre of finance from the Polytechnic University
of Hong Kong in March 2017. He is the holder of the Estate
Agent Licence granted by the Estate Agents Authority in
February 2017. Mr. Eric Hui is a director of Max Fortune. He is
the son of Mr. Hui and Ms. Tong.
16Vico International Holdings Limited Anual Report 2024/2025
BIOGRAPHICAL DETAILS OF DIRECTORS AND SENIOR MANAGEMENT
董事及高级管理层履历详情
江文豪先生，40岁，营销总监
江文豪先生（「江先生」）于二零一七年六月二十三
日获委任为执行董事。江先生为裕豪物流、义盛
物流运输、义盛行、骏汇、亿晖及佃丰行的营销
经理及本集团营销总监。彼主要负责监督本集团
的销售及营销策略。江先生于二零八年六月在
麦克马斯特大学取得商学士学位。于二零一三年
一月加入本集团前，江先生于康宏理财服务有限
公司担任顾问，其后晋升为高级顾问，再晋升为
理财顾问及高级理财顾问，负责推广金融服务及
产品。彼于销售及营销及推广车队咭拥有11年经
验。于二零一三年至二零一七年六月，彼持有业
务代表牌照（获香港专业保险经纪协会授出）、注
册强积金附属中介人（获强制性公积金计划管理局
授出），并成为根据证券及期货条例可进行第1类
（证券交易）受规管活动的持牌代表。
Mr. KONG Man Ho (江文豪), aged 40, Marketing Director
Mr. Kong Man Ho (“Mr Kong”) was apointed as an executive
Director on 23 June 2017. Mr. Kong is the marketing manager
of Carmen Logistics, Ye Sing Logistics, Ye Sing Hong,
Grand Wealthy, Bilion Faith and Tien Fung Hong and the
marketing director of our Group. He is primarily responsible
for overseing the sales and marketing strategies of our
Group. Mr. Kong obtained a Bachelor of Comerce degre
from McMaster University in June 2008. Before joining our
Group in January 2013, Mr. Kong worked as a consultant, then
promoted to senior consultant and subsequently promoted to
wealth management advisor and senior wealth management
advisor of Convoy Financial Services Limited, where he
was responsible for the promotion of financial services
and products. He has 11 years of experience in sales and
marketing and the promotion of flet cards. From 2013 to June
2017, he was the holder of the Technical Representatives
Licence granted by the Profesional Insurance Brokers
Asociation, the Registered MPF Subsidiary Intermediary
granted by the Mandatory Provident Schemes Authority
and a representative licensed to cary out type 1 (dealing in
securities) regulated activities under the Securities and Futures
Ordinance.
172024/2025年报 域高国际控股有限公司
BIOGRAPHICAL DETAILS OF DIRECTORS AND SENIOR MANAGEMENT
董事及高级管理层履历详情
非执行董事
王俊文先生，49岁，非执行董事
王俊文先生（「王先生」）于二零一九年四月一日获
委任为非执行董事。
王先生于一九年取得香港中文大学工商管理
学士学位。彼在金融领域拥有逾23年的经验。彼
已获得英国皇家特许测量师协会、美国注册会计
师协会和特许财务分析师的专业资格。
王先生自二零一八年三月至二零二四年三月期间
担任兆邦基生活控股有限公司（股份代号：1660）
的独立非执行董事。王先生于二零二一年一月至
二零二三年五月期间担任富汇国际集团控股有限
公司（股份代号：1034）的执行董事，并于二零二
一年七月至二零二三年二月期间担任万马控股
有限公司（股份代号：6928）的非执行董事。上述
公司于香港联合交易所有限公司（「联交所」）主板
上市。
NON-EXECUTIVE DIRECTOR
Mr. WONG Chun Man (王俊文), aged 49, Non-executive
Director
Mr. Wong Chun Man (“Mr. Wong”) was apointed as a non-
executive Director on 1 April 2019.
Mr. Wong obtained his bachelor’s degre in busines
administration from The Chinese University of Hong Kong in
1999. He has more than 23 years of experience in the field of
finance. He has atained the profesional qualifications of the
Royal Institution of Chartered Surveyors, the American Institute
of Certified Public Acountants and Chartered Financial
Analyst.
Mr. Wong was an independent non-executive director of
Zhaobangji Lifestyle Holdings Limited (stock code: 1660)
from March 2018 to March 2024. Mr. Wong was an executive
director of Fulwealth International Group Holdings Limited
(stock code: 1034) from January 2021 to May 2023 and a non-
executive director of TOMO Holdings Limited (stock code:
6928) from July 2021 to February 2023. The above companies
are listed on the Main Board of The Stock Exchange of Hong
Kong Limited (the “Stock Exchange”).
18Vico International Holdings Limited Anual Report 2024/2025
BIOGRAPHICAL DETAILS OF DIRECTORS AND SENIOR MANAGEMENT
董事及高级管理层履历详情
独立非执行董事（「独立非执行董事」）
陈政深先生，45岁，独立非执行董事
陈政深先生（「陈先生」）于二零二零年四月十二日
获委任为独立非执行董事及审核委员会及提名委
员会各自之成员。陈先生于二零七年以一级荣
誉成绩毕业于香港浸会大学，主修新闻、副修宗
教及哲学；并于二零一六年于香港理工大学取得
金融学（投资管理）硕士学位。陈先生于财经传播
界及金融评论方面拥有逾15年经验，目前为证券
及期货事务监察委员会（证监会）持牌机构艾德证
券期货有限公司执行董事，主责零售、市务策略
及传讯和系统提升工作。陈先生为证监会其下之
负责人员，可从事第1类（证券交易）、第2类（期货
合约交易）、第4类（就证券提供意见）及第5类（就
期货合约提供意见）等受规管活动。陈先生拥有多
项会计专业资格。彼为香港会计师公会(HKICPA)
国际联系会员、澳洲公共会计师协会(IPA)会员及
英国财务会计师协会(IFA)会员。
梁浩志先生，50岁，独立非执行董事
梁浩志先生（「梁先生」）于二零一九年四月一日获
委任为独立非执行董事、本公司提名委员会成员
以及审核委员会及薪酬委员会各自之主席。
梁先生于一九六年取得香港中文大学工商管理
学士学位并于二零一年取得香港理工大学公司
管治硕士学位。
INDEPENDENT NON-EXECUTIVE DIRECTORS
(“INED”)
Mr. CHAN Ching Sum (陈政深), aged 45, INED
Mr. Chan Ching Sum (“Mr. Chan”) was apointed as an
independent non-executive Director on 12 April 2020 and
a member of each of the Audit Comite and Nomination
Comite. Mr. Chan graduated from the Hong Kong Baptist
University with a first clas honor in bachelor of Journalism
and minor in Religions and Philosophy in 2007, and obtained
a master’s degre in Finance (Investment Management)
from the Hong Kong Polytechnic University in 2016. Mr.
Chan has over 15 years’ experience in financial media and
comentary field, and is curently working in Edid Securities
and Futures Limited, which is a licensed institution under
Securities and Futures Comision (SFC), as an executive
director. He is responsible for retail sales, marketing and
comunications, and system enhancement projects in the
institution. Mr. Chan is a responsible oficer under SFC, who
is eligible to perform certain types of regulated activities,
including Type 1 (dealing in securities), Type 2 (dealing in
futures contracts), Type 4 (advising on securities) and Type 5
(advising on futures contracts) regulated activities. Mr. Chan
has several profesional qualifications in acountancy. He
is an International Afiliate of Hong Kong Institute of Certified
Public Acountant (HKICPA), a member of Institute of Public
Acountant (IPA), Australia and Asociate of Institute of
Financial Acountant (IFA), UK.
Mr. LEUNG Ho Chi (梁浩志), aged 50, INED
Mr. Leung Ho Chi (“Mr. Leung”) was apointed as an
independent non-executive Director on 1 April 2019 and a
member of the Nomination Comite and the chairman of
each of the Audit Comite and the Remuneration Comite
of the Company.
Mr. Leung obtained his bachelor’s degre in busines
administration from The Chinese University of Hong Kong in
1996 and a master’s degre in corporate governance from The
Hong Kong Polytechnic University in 2011.
192024/2025年报 域高国际控股有限公司
BIOGRAPHICAL DETAILS OF DIRECTORS AND SENIOR MANAGEMENT
董事及高级管理层履历详情
梁先生现为香港会计师公会及特许公认会计师公
会资深会员，并为香港公司治理公会员。彼于
审计、会计及财务方面拥有超过26年之经验。梁
先生分别于二零二一年七月至二零二三年五月及
二零二一年八月至二零二三年四月为万马控股有
限公司（香港联交所股份代号：6928）的公司秘书
及财务经理。彼自二零一九年四月至二零二零年
十月担任联合医务集团有限公司（香港联交所股份
代号：722）的财务总监，并于二零二四年五月再
次加入。彼亦于数间在纽约证券交易所及伦敦证
券交易所上市之国际广告及公关公司香港附属公
司担任财务总监。梁先生自二零二一年一月至二
零二一年六月担任富汇国际集团控股有限公司（香
港联交所股份代号：1034）的独立非执行董事。
吴颖思女士，33岁，独立非执行董事
吴颖思女士（「吴女士」）于二零二四年三月一日获
委任为独立非执行董事以及审核委员会及薪酬委
员会各自之成员。吴女士于二零一五年在香港中
文大学获得工商管理学士学位。彼为英格兰及威
尔斯特许会计师公会(ICAEW)会员。
吴女士从提供鉴证服务展开她的事业生涯，当中
包括为物流和消费品行业的公司提供审计服务。
吴女士拥有超过10年的管理咨询和金融行业经
验，目前在一家咨询公司担任经理。她的管理咨
询专业涵盖大规模财务转型、目标营运模式设
计、市场策略制定、成本优化、并购整合以及监
管合规项目。她还有处理全球和区域专案的经
验，包括与不同利益持份者协调策略目标。
此外，吴女士具备金融行业经验，曾在一家金融
机构任职企业策略发展部经理。她具执行大规模
策略发展项目，例如制定大湾区市场扩张策略并
与银行和科技公司建立战略合作伙伴关系之相关
经验。
Mr. Leung is curently a felow member of the Hong Kong
Institute of Certified Public Acountants and the Asociation of
Chartered Certified Acountants and a member of The Hong
Kong Chartered Governance Institute. He has over 26 years of
experience in audit, acounting and finance. Mr. Leung was a
company secretary and a finance manager of TOMO Holdings
Limited (HKEx stock code: 6928) from July 2021 to May 2023
and from August 2021 to April 2023 respectively. He served
as the financial controler of UMP Healthcare Holdings Limited
(HKEx stock code: 722) from April 2019 to October 2020
and rejoined from May 2024. He had also worked as finance
director and financial controler in Hong Kong subsidiaries
of multiple multinational advertising and public relations
companies listed on The New York Stock Exchange and The
London Stock Exchange. Mr. Leung was an independent non-
executive director of Fulwealth International Group Holdings
Limited (HKEx stock code: 1034) from January 2021 to June
2021.
Ms. NG Wing Sze Vince (吴颖思), aged 33, INED
Ms. Ng Wing Sze Vince (“Ms. Ng”) was apointed as an
independent non-executive Director on 1 March 2024 and a
member of each of the Audit Comite and Remuneration
Comite. Ms. Ng obtained a bachelor’s degre in busines
administration from The Chinese University of Hong Kong
in 2015. She is a member of the Institute of Chartered
Acountants in England and Wales (ICAEW).
Ms. Ng started her carer providing asurance services,
including providing audit services for corporations in the
logistics and consumer industries. Ms. Ng has over 10 years
of experience in both management consulting and financial
industry roles and is curently working as a manager in a
consulting firm. Her management consulting expertise spans
large-scale finance transformation, target operating model
design, go-to-market strategies, cost optimization, merger
integration, and regulatory change programs. She also has
experience managing global and regional scale projects,
including strategic goals alignment with stakeholders acros
diverse busines functions.
In adition, Ms. Ng has in-house financial industry experience
working as a corporate strategic development manager in a
financial institution. Her experience encompases executing
large-scale strategic projects, such as building a market
expansion strategy in the Greater Bay Area and fostering
strategic partnerships with banks and technology companies.
20Vico International Holdings Limited Anual Report 2024/2025
BIOGRAPHICAL DETAILS OF DIRECTORS AND SENIOR MANAGEMENT
董事及高级管理层履历详情
高级管理层
黄洁仪女士，64岁，为本集团会计师。彼主要负
责监督会计活动及本集团的整体财务报告。彼于
二零二年二月加入本集团，于审核及会计拥有
逾38年经验。加入本集团前，彼于一九八二年七
月至一九八六年十二月在永兴摩打泵行有限公司
担任会计文员。于一九八年九月至一九八九年
三月，彼于四通布厂有限公司担任助理会计师。
于一九一年四月至一九四年二月，彼于凸版
摩亚资讯卡片有限公司担任会计文员。彼于一九
九四年在英国伦敦工商会考试取得第二级单科簿
记及会计能力证书，并于二零六年九月在香港
商业专科学校取得会计学文凭，并于二零八年
六月完成香港大学专业进修学院举办的香港财务
会计协会财务会计员考试备试课程卷六香港商
业法。
李彩屏女士，45岁，自二零一四年十一月起成为
本集团营运经理，主要负责本集团车队咭、柴油
及润滑油业务的一般营运。彼于零售业务营运拥
有逾23年经验。加入本集团前，彼于一九六
年十二月起在百丽环球有限公司担任销售人员，
于二零一四年六月辞任时，已晋升为高级店舖经
理。彼于一九六年六月在遵理学校完成中五中
学教育。
SENIOR MANAGEMENT
Ms. Wong Kit Yi (黄洁仪), aged 64, is the acountant of our
Group. She is primarily responsible for overseing acounting
activities and our Group’s overal financial reporting. She
joined our Group in February 2002 and has over 38 years
of experience in auditing and acounting. Before joining
our Group, she worked for Wing Hing Motor & Pump Co.
as its acount clerk from July 1982 to December 1986.
From September 1988 to March 1989, she worked for Sze
Tung Weaving Factory Ltd. as its asistant acountant.
From April 1991 to February 1994, she worked for Datacard
Topan More Ltd. as its acount clerk. She received a
certificate for proficiency in the second level single subject
of bok-keping and acounts from the London Chamber of
Comerce and Industry in 1994, was awarded the diploma in
acounting studies from the Hong Kong Schol of Comerce
in September 2006, and completed the HKIAT Acounting
Technician Examinations Preparatory Programe Paper 6
Hong Kong Busines Law course ofered by The University of
Hong Kong Schol of Profesional and Continuing Education
in June 2008.
Ms. Le Choi Ping (李彩屏), aged 45, is the operation manager
of our Group since November 2014 and is primarily responsible
for the general operation of our Group’s flet card, diesel and
lubricant oil busines. She has over 23 years of experience in
retail busines operation. Before joining our Group, she worked
for Bele Worldwide Limited as its sales from December 1996
and was promoted to senior shop manager at the time of her
resignation in June 2014. She completed her form 5 secondary
schol education at Beacon Colege in June 1996.
212024/2025年报 域高国际控股有限公司
BIOGRAPHICAL DETAILS OF DIRECTORS AND SENIOR MANAGEMENT
董事及高级管理层履历详情
COMPANY SECRETARY
Ms. Chan Sze Ting (陈诗婷) was apointed as company
secretary of the Company on 24 June 2020. Ms. Chan is a
director of the corporate services division of Tricor Services
Limited, a global profesional services provider specialising in
integrated busines, corporate and investor services. Ms. Chan
has over 18 years of experience in the corporate secretarial
field and has ben providing profesional corporate services to
Hong Kong listed companies as wel as multi-national, private
and ofshore companies. Ms. Chan is a Chartered Secretary, a
Chartered Governance Profesional and a Felow of both The
Hong Kong Chartered Governance Institute and The Chartered
Governance Institute in the United Kingdom. Ms. Chan holds a
bachelor of laws degre from the University of London.
公司秘书
陈诗婷女士于二零二零年六月二十四日获委任为
本公司公司秘书。陈女士为卓佳专业商务有限公
司（一家专门提供综合商业、企业及投资者服务的
全球性专业服务供应商）企业服务部的董事。陈女
士于公司秘书领域拥有逾18年经验，并一直为香
港上市公司以及跨国公司、私人公司及离岸公司
提供专业的企业服务。陈女士为特许秘书、公司
治理师以及香港公司治理公会及英国特许公司治
理公会的资深会士。陈女士持有伦敦大学法律学
士学位。
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
22Vico International Holdings Limited Anual Report 2024/2025
关于报告
本报告是本公司发布的第八份环境、社会及管治
（「ESG」）报告，介绍了本公司及附属公司促进可
持续发展的成就，以及我们在社会与管治方面的
表现。务求为顾客及持份者创造长远价值，本公
司十分重视可持续发展。ESG报告详细阐述了本
集团在全面实施可持续发展原则以及其社会和管
治表现方面的各项工作。
报告范围
ESG报告涵盖于二零二四年四月一日至二零二五
年三月三十一日止期间（「报告期间」）我们的可持
续发展表现以及我们的总部及销售柴油、提供车
队咭服务、销售润滑油分部的举措。
报告指引
董事会（「董事会」）已采用联交所证券上市规则附
录27所载之《环境、社会及管治报告指引》（「指
引」）之要求。
ABOUT THIS REPORT
This is the eighth Environmental, Social and Governance
(“ESG”) report published by the Company presenting the
achievements in promoting sustainable development of the
Company and its subsidiaries and our performance of social
and governance. In keping with the spirit of creating long-term
value for our customers and stakeholders, the Company has
placed considerable emphasis on sustainable development.
The ESG report elaborates on the various work of the Group
in fuly implementing the principle of sustainable development
and its performance of social and governance.
Scope of Report
The ESG report covers our sustainability performance as
wel as the initiatives of our head ofices and sales of diesel,
provision of flet cards service, sales of lubricant oil segments
for the period betwen 1 April 2024 and 31 March 2025 (the
“Reporting Period”).
Reporting Guidelines
The Board of Directors the (the “Board”) has adopted the
requirements of the Environmental, Social and Governance
Reporting Guide (the “Guideline”) set out in the Apendix 27
of the Rules Governing the Listing of Securities on the Stock
Exchange.
232024/2025年报 域高国际控股有限公司
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
报告原则
ESG报告内容根据以下报告原则编制：
资讯及意见
本集团重视 阁下的意见，欢迎大家就本报告提
出意见或建议，请透过以下方式与我们联系：
电邮： info@vicointernational.hk
传真： 2728 8263
邮寄： 香港九龙长沙湾长裕街10号亿京广场2
期11楼D室
Reporting Principles
The content of the ESG Report were prepared based on the
Reporting Principles as folows:
MaterialityQuantitativeConsistency
重要性量化一致性
The Board constantly reviewed
and discused the Group’s
ESG guidelines, ESG reports
and management objectives by
recognizing and managing ESG-
related risks and oportunities
while taking the Group’s isues of
materiality into acount.
We calculate and disclose
environmental and social KPIs
based on relevant standards
and guidelines, such as “How
to Prepare an ESG Report –
Apendix 2: Reporting Guidance
on Environmental KPIs” and
“How to Prepare an ESG Report –
Apendix 3: “Reporting Guidance
on Social KPIs” isued by the Stock
Exchange of Hong Kong.
Consistent statistical methodologies
have ben taken to alow for
meaningful comparisons of ESG
data over time. If there are changes
in the methods used and reporting
scope, the Group wil explain
through notes as reference for
stakeholders.
通过识别和管理ESG相关的风险和机
遇，同时考虑到本集团的重大议题，
董事会不断审查和讨论本集团的ESG
指引、ESG报告和管理目标。
我们根据相关标准和指引计算和披露
环境和社会关键绩效指标，例如由香
港联交所发布的「如何编备ESG报告
– 附录二：环境关键绩效指标汇报指
引」及「如何编备ESG报告 – 附录三：
社会关键绩效指标汇报指引」。
我们已采用一致的统计方法，令ESG
数据日后可作有意义的比较。如果使
用的方法和报告范围发生变化，本集
团将在附注中解释以供持份者参考。
Information and Fedbacks
Our continuous improvements rely on your valuable opinions, if
you have any advice or sugestions, please contact us by:
Email: info@vicointernational.hk
Fax: 2728 8263
Post: Unit D, 11/F, Bilion Plaza I, No. 10 Cheung Yue
Stret, Cheung Sha Wan, Kowlon, Hong Kong
24Vico International Holdings Limited Anual Report 2024/2025
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
企业社会责任及愿景
本集团致力于环境保护，推动低碳工作场所，提
供环保、高效的产品及服务。作为雇主，我们通
过工作场所的环保教育及可持续发展实践，提
高员工节约资源的意识。为了推动创新，我们探
索新技术以及环保材料及产品，确保与供应商在
绿色采购方面保持一致。我们欢迎持份者提供意
见，相信更环保的环境能创造更美好的世界。
董事会批准
董事会已于二零二五年六月二十六日批准本报
告。
公司管治
本公司已经制定并采用了全面的风险管理程序和
指引，并明确规定了关键业务流程和行政职能的
执行许可权，包括数据资料库维护、生产管理、
财务报告和人力资源。我们一直鼓励员工对财务
报告、内部监控或其他事项中可能存在的不当行
为提出意见。
管治架构及风险管理
截至二零二五年三月三十一日，董事会由来自不
同业务领域的2名女性成员和6名男性成员组成。
董事会已建立有效的风险管理和内部监控制度，
以评估和确定追求本集团战略目标风险的性质和
程度。
Corporate Social Responsibility and Vision
The Group is comited to environmental protection by
promoting a low-carbon workplace and delivering eco-friendly,
high-eficiency products and services. As an employer, we
enhance employes’ awarenes of resource conservation
through workplace environmental education and sustainable
practices. To drive inovation, we explore new technologies
and eco-friendly materials and products, ensuring alignment
with our supliers on gren procurement. We welcome
stakeholder input, believing that a grener environment creates
a beter world.
Board of Aproval
The Board aproved this Report on 26 June 2025.
OUR GOVERNANCE
The Company has formulated and adopted comprehensive
risk management procedures and guidelines with defined
authority for implementation by key busines proceses and
administrative functions, including database maintenance,
production management, financial reporting and human
resources. Employes have ben encouraged to raise their
concerns about posible improprieties in financial reporting,
internal control or other maters.
Governance Structure and Risk Management
As of 31 March 2025, the Board, which consisted of two female
members and six male members from various busines fields,
has established efective risk management and internal control
systems for evaluating and identifying the nature and extent of
the risks of pursuing the Group’s strategic objectives.
252024/2025年报 域高国际控股有限公司
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
我们保持每个季度向董事会提供最新资料，对本
集团的业绩、状况和未来前景作出公平及易于理
解的评估。所有董事都有权利在董事会例会的议
程中列入相关事项，并可自由查阅董事会文件和
其他资源，其品质和形式都足以使董事会作出决
策。董事会已成立审核委员会、提名委员会和薪
酬委员会，这些委员会的大多数成员是由独立董
事组成。有关我们企业管治及风险管理的更多资
料，请参阅本年报内的《企业管治报告》。
通过识别和管理ESG相关的风险和机遇，同时考
虑到本集团的重大议题，董事会不断审查和讨
论本集团的ESG指引、ESG报告和管理目标。对
于董事会而言，持续识别和评估ESG相关事项的
管理流程以及实现本集团ESG目标的进展至关重
要。
董事会制定的ESG计划由行政经理执行，其向相
关部门传达并提供执行计划。我们的行政经理与
负责部门讨论制定可实现的ESG目标，监测他们
的进展，并定期向本公司行政总裁（「行政总裁」）
和董事会报告。
We continue to give the Board with a quarterly update that
provides a fair and understandable apraisal of the Group’s
performance, position, and future prospects. Al directors
have the chance to ad items to the agenda for regular board
metings, and they al have fre aces to board papers and
other resources that are of a caliber and form that the Board
neds to be able to make decisions. An audit comite, a
nomination comite and a remuneration comite have
ben established by the Board. The majority of the comites
is made up of independent directors. For more information on
our corporate governance and risk management, please refer
to the Corporate Governance Report in this Anual Report.
The Board constantly reviewed and discused the Group’s
ESG guidelines, ESG reports and management objectives by
recognizing and managing ESG-related risks and oportunities
while taking the Group’s isues of materiality into acount. It
was vital for the Board to continualy identify and evaluate the
management proces of ESG-related maters and the progres
of achieving the Group’s ESG goals.
The ESG plans formulated by the Board were implemented by
the administration managers who comunicated and provided
execution plans to related departments. Our administration
managers discused with the responsible departments to
make achievable ESG targets, monitored their progres and
regularly reported to the Chief Executive Oficer of the Company
(the “Chief Executive Oficer”) and the Board.
26Vico International Holdings Limited Anual Report 2024/2025
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
持份者参与
与持份者保持密切关系对我们的业务运营和可持
续发展至关重要。本集团的主要持份者包括政府
及监管机构、客户、供应商、投资者以及公众及
本地社区等。为了在长期发展中考虑所有持份者
的意见，本集团努力通过不同的渠道和方式与持
份者保持良好沟通。
Stakeholder Engagement
Keping a close relationship with stakeholders is esential
to our busines operations and sustainable development.
Key stakeholders of the Group include the Government and
regulatory bodies, customers, supliers, investors, as wel as
the public and local comunity. To take the opinions of al
stakeholders into consideration in the long-term development,
the Group strives to maintain god comunication with
stakeholders through a range of chanels and methods.
StakeholdersMeans of Comunication and Response
持份者我们的沟通与回应方式
Shareholders and Investors• Anual and interim reports
• Company website
- ’
metings
- , anouncements and circulars
股东和投资者• 年报和中期报告
• 本公司网站
• 股东周年大会及其他股东大会
- 、公告和通函
Employes• Employe team-building activities
• Employe job satisfaction surveys
• Performance apraisals
• Metings
• Newsleters
• Orientation programs for new employes
• Intranet and e-mails
雇员• 员工团建精神活动
• 员工作满意度调查
• 工作表现评估
• 会谈
• 通讯
• 新员工入职培训计划
• 内联网及电邮
272024/2025年报 域高国际控股有限公司
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
StakeholdersMeans of Comunication and Response
持份者我们的沟通与回应方式
Customers• Customer hotlines
• Sugestion boxes
• Corporate website and social media
• Customer satisfaction surveys
• Newsleters
• E-service aplication
顾客• 客户热线
• 意见箱
• 企业网站和社交媒体
• 客户满意度调查
• 通讯
• 电子服务应用
Supliers/Busines Partners• Busines metings, suplier conferences, phone
cals and interviews
• Quarterly busines review metings
• Safety trainings
• Contract renewals proces and updates
• ESG surveys and reviews
供应商╱商业伙伴• 业务会议、供应商会议、电话及访谈
• 季度业务审查会议
• 安全培训
• 合同续订流程和更新
• ESG调查和评估
The Government• Consultancy and discusions
• Metings and dialogues
政府• 咨询和讨论
• 会议及对话
The Local Comunity• Charity activities
• Voluntering activities
• E-mails
本地社区• 慈善活动
• 义工活动
• 电邮
Media• E-mails
• Pres releases
• Corporate websites
• Interviews
传媒• 电邮
• 新闻稿
• 企业网站
• 访谈
28Vico International Holdings Limited Anual Report 2024/2025
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
Suporting the United Nations Sustainable Development
Goals
The Group is comited to suporting the global action of
the United Nations’ Sustainable Development Goals, which
adres the global chalenges we face, including those
related to poverty, inequality, climate change, environmental
degradation. The Group has made comitment to align the
operations with 9 of the 17 SDGs with our busines impacts
to sustainability studied. Over the long term, the Group works
with our stakeholders to deliver outstanding value for our
environment, people and comunity.
The Environment
环境
Customers
顾客
Suply Chain
供应链
People
员工
Comunity
社区
支持联合国可持续发展目标
本集团致力支持联合国可持续发展目标的全球行
动，这些目标旨在解决我们面临的贫困、不平
等、气候变化、环境退化等全球挑战。本集团研
究业务对可持续发展的影响，并承诺将其营运与
十七项可持续发展目标中的九项相结合。从长远
来看，本集团与持份者合作，为我们的环境，员
工和社区创造卓越价值。
292024/2025年报 域高国际控股有限公司
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环境、社会及管治报告
环境保护
本集团继续致力于为我们的环境提供更好的空气
品质。我们车队的运营可能直接或间接地产生空
气污染物和温室气体，就像我们的办公室、仓库
和生产线也会通过能源消耗，水资源使用和废物
处理产生这些排放。
我们的生产方式很大程度上依赖于使用电力和水
资源。为了节约自然资源，我们推行了能源和水
资源节约措施，并为此定期审查我们的日常工
作。为了保持资源的有效利用，我们亦会对我们
的建筑物和生产设备进行常规维护。
在报告期间，我们没有发现任何行为违反有关
法律和法规，例如《空气污染管制条例》（香港法
例第311章）和《废物处置条例》（香港法例第354
章）。
绿色营运
本集团致力于减少排放、节约资源及促进可持续
发展，以符合《巴黎协定》。我们定期进行环境
影响评估，并实施减排政策，以降低碳足迹。我
们的策略强调整合能源、水资源和废弃物管理，
并认识到其在降低环境影响方面的重要作用。我
们的目标是在所有业务中实现资源效率及可持续
性，确保采用减少浪费并最大限度利用资源的循
环方法。
为了实现这一目标，我们专注于优化能源及水资
源的使用，采取的措施包括安装节能照明系统、
采用先进的水净化流程，以及在非生产活动中
对废水进行再利用。该等努力符合我们更广泛的
可持续发展目标，包括减少资源浪费及排放。此
外，我们亦专注于透过采用可持续包装、供应链
优化及对员工进行减少浪费的教育来提高废弃物
管理。
PROTECT OUR ENVIRONMENT
The Group continues to contribute to a beter air quality for
our environment. The operation of our flet may directly or
indirectly emit air polutants and grenhouse gases, as do
our ofices, warehouses, and production lines through energy
consumption, water use, and waste treatment.
Our production method heavily depends on the use of
electricity and water resources. Energy and water-saving
initiatives are put into place in light of the ned to conserve
natural resources, and we regularly review our daily routines
in order to do so. In order to maintain efective resource
usage, we also do routine maintenance on our buildings and
production equipment.
During the Reporting Period, we were not aware of any
noncompliance with relevant laws and regulations, such as the
Air Polution Control Ordinance (Chapter 311 of the Laws of
Hong Kong) and the Waste Disposal Ordinance (Chapter 354
of the Laws of Hong Kong).
Gren Operations
The Group is comited to reducing emisions, conserving
resources, and promoting sustainability in line with the Paris
Agrement. We conducted regular environmental impact
asesments and implemented emision reduction policies
to lower our carbon fotprint. Our strategy emphasized
the integration of energy, water, and waste management,
recognizing their vital roles in reducing our environmental
impact. We aimed for resource eficiency and sustainability
acros al operations, ensuring a circular aproach that
reduced waste and maximized resource use.
To achieve this, we focused on optimizing both energy
and water usage, with initiatives such as the instalation of
energy-eficient lighting systems, advanced water purification
proceses, and the reuse of wastewater in non-production
activities. These eforts aligned with our broader sustainability
goals, which included reductions in both resource waste
and emisions. Aditionaly, we focused on improving waste
management through the adoption of sustainable packaging,
suply chain optimization, and employe education on
reducing waste.
30Vico International Holdings Limited Anual Report 2024/2025
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环境、社会及管治报告
员工参与是我们的基石。我们鼓励员工参与可持
续发展计划，并通过培训及意识宣传活动推广对
环境负责的行为。我们透过定期的环境影响评
估追踪能源、水资源及废弃物管理的进展，这有
助于我们改进实践，实现可衡量的可持续发展目
标。我们相信下列政策能有效达成我们的目标：
- ，定期发
放「可持续发展」电子宣传册；
- ，鼓励员
工积极提出环境保护政策，以培养工作场
所的环保友好氛围；
3. 电脑和其他电子设备在不使用时应保持关
闭；
- ，提高他们对自身环
境责任的认识；
- ，并在办公室附
近放置回收箱，鼓励员工定期回收纸张、
塑胶瓶和铝罐；
- 「源头减排」理念。当购买和更换旧设
备时，我们倾向选择节能产品，并比较其
能源效率标签。我们尽量购买已获「一级
能源标签」认证的设备。我们还采用了FSC
认证的复印纸；
- ；
严格在工作时间过后关闭所有办公室的电
源，以减少耗能，并定期进行耗能审查；
8. 保持办公室温度设置在24至26摄氏度之
间，避免办公室、仓库和零售场所过度降
温，以减少能源消耗；
Employe engagement was a cornerstone of our aproach.
We encouraged staf participation in sustainability programs
and promoted environmentaly responsible behaviors through
training and awarenes campaigns. We tracked progres
in energy, water, and waste management through regular
environmental impact asesments, which helped us refine our
practices and achieve measurable sustainability targets. We
believe that the folowing policies are efective to achieve our
goal:
1. Actively raising awarenes of environmental protection
in the workplace and regularly distribute electronic
“Sustainable Development” leaflets;
2. Placing gren posters in coridors and pantries, and
encourage employes to actively sugest environmental
protection policies to nurture an atmosphere of
environmentaly friendlines at workplaces;
3. Turning of computers and other electronic equipment
when not in use;
4. Promoting gren mesages to employes to raise their
awarenes of their own environmental responsibilities;
5. Encouraging employes to reuse and recycle, and
placing recycling bins near the ofice to encourage
employes to recycle paper, plastic botles and tin cans
regularly;
6. Promoting the concept of “reduce emision at source”.
When we purchase and replace old legacy equipment,
we favour energy-saving products and compare their
energy eficiency labels. We have done our best to
purchase equipment that has ben certified under the
“grade 1 energy label”. We also adopt FSC certified
copying paper;
7. Instaling energy saving T5 fluorescent tubes and
LED lights in workplaces; strictly turning of the power
in al ofices after busines hours to reduce energy
consumption and conducting energy consumption
review periodicaly;
8. Maintaining a suitable ofice temperature seting of
betwen 24 to 26 degres Celsius, avoiding overcoling
in the ofices, warehouses and retail outlets so as to
reduce energy consumption;
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环境、社会及管治报告
- 。我们已经将
本公司的打印机预设为双面列印，并采取
了措施，使员工更容易回收纸张。我们亦
重复使用办公用品（如信封和资料夹），并
鼓励在内部通讯中使用电子邮件，以减少
纸张使用；
- ；
- ；
12. 推动使用符合欧盟五型或以上标准的低排
放汽车和无铅燃料，以减少燃烧时的空气
污染；
- ，以防止石油和化学
品泄漏，从而提高能源效率；
- ，以改善空气品质并减
少污染物排放；
15. 定期检查仓库内装备的污水系统和生产设
施，以避免任何污水泄漏；
- ，以降低
二氧化碳排放；及
- ，以促进节约燃
油和减少排放。
9. Asking our employes to consume resources
responsibly. We have pre-setled the Company’s
printers for duplex printing and taken steps to make it
easier for employes to recycle paper. We have also
reused ofice suplies (such as envelopes and folders)
and encouraged reducing paper usage by email in our
internal comunications;
10. Instaling water-eficient taps in toilets;
11. Donating al obsolete ofice furniture and equipment;
12. Promoting the use of low-emision vehicles that comply
with Euro V or above standards and unleaded fuels that
combust les air polution;
13. Regularly checking our flet of vehicles to prevent
leakage of oil and chemicals, thereby improving energy
eficiency;
14. Requiring drivers to switch of idling engines to improve
air quality and reduce polutant emisions;
15. Regular checks of the sewage system and production
facilities equiped in the warehouse to obviate any
wastewater leakage;
16. Integrating electric vehicles into our flet to lower
carbon dioxide emisions; and
17. Optimizing the routes of our flet of vehicles for delivery
to promote fuel saving and emision reduction.
32Vico International Holdings Limited Anual Report 2024/2025
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环境、社会及管治报告
我们参加了由世界自然基金会主办的「二零二五年
地球一小时」活动，以提高员工对低碳办公室运营
的认识及节能习惯，亦曾举办活动让员工认识如
何节省能源及减少碳排放。
气候变化议题
气候变化威胁到世界各地人们的生命和健康，这
与本集团的业务、客户和供应链息相关。因
此，我们采纳了TCFD的建议，以披露本集团为
管理气候相关风险所采取的措施及其对我们业务
的潜在影响。
管治
董事会已采取措施，将气候相关事宜整合到本集
团的战略规划、风险分析系统以及日常运营和管
理中，并建立了教育不同层次员工关于气候变化
和节能的重要性的计划。我们明确了相关的角色
和责任，以确保有效的气候风险管理和本集团气
候相关战略的成功。
策略
在制定业务战略时，我们考虑了气候变化的影
响，包括对我们的营运的直接影响以及对客户的
间接影响。我们继续评估各业务部门的气候相关
风险和机会，以确定该等风险和机遇的影响。
We have joined “Earth Hour 2025” organized by World Wildlife
Fund to enhance staf’s understanding of low carbon ofice
operation and energy-saving habits, certain events had also
ben held to teach our employes about how to save energy
and reduce carbon emisions.
CLIMATE CHANGE ISUES
Climate change threatens human life and health around the
world, and is relevant to the Group’s busines, customers
and suply chain. Therefore, we have adopted the TCFD
recomendations to disclose the measures taken by the
Group to manage climate-related risks and the potential impact
on our busines.
Governance
The Board has taken measures to integrate climate-related
isues into the Group’s strategic planing, risk analysis system,
and daily operations and management; established programs
to educate the diferent levels of our employes about climate
change and the importance of energy conservation. We clarify
relevant roles and responsibilities as to ensure the efective
management of climate risks and the suces of the Group’s
climate-related strategy.
Strategies
When formulating busines strategies, we consider the impacts
of climate change, including direct efects on our operations
as wel as indirect efects on our customers. We continue to
evaluate climate-related risks and oportunities acros the
busines segments to identify the implications of these risks
and oportunities.
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环境、社会及管治报告
我们了解与气候变化相关的风险，包括对我们的
公司和消费者的物理和过渡影响造成的财务损失
或声誉损害。我们在日常业务活动和营运中面临
环境和社会风险，包括气候风险。因此，我们正
在采取多项措施来确定气候相关风险和机遇对我
们的业务策略和财务业绩的影响，其中包括：
- ，
我们旨在最大限度减少不必要的材料和优
化运输期间的空间利用；
- 、消费者和供应商关于节能的重
要性；
- ；
- ，
减少浪费；及
5. 促进和鼓励我们的客户采用电子账单服
务。
气候相关风险与机遇管理
为了密切监测与气候相关的风险和机遇，本集团
针对操作风险建立了由上而下的风险管理机制：
董事会
- ；
2. 为实现ESG目标制定本集团的战略定位和
产业布局；及
3. 监测和提出实施计划和节能和减排业务绩
效的建议。
We understand that risk asociated with climate change
includes financial los or reputational damage resulting from
the physical and transitional efects on our companies and
consumers. We are exposed to environmental and social
risks, including climate risk through our day-to-day busines
activities and operations. Therefore, we are taking several
steps to determine the impacts that climate-related risks
and oportunities are having on our busines strategies and
financial performance, which include:
1. Implementing more streamlined and sustainable
packaging solutions, we aim to minimize unecesary
materials and optimize space utilization during
transportation;
2. Educating employes, consumers and supliers about
the importance of energy conservation;
3. Strengthening the clasification and recovery of solid
waste;
4. Ensuring staf to reduce the use of unecesary
disposable gods and reduce waste; and
5. Promoting and encouraging our customers to adopt
e-biling services.
Climate-related Risks and Oportunities Management
To closely monitor the climate-related risk and oportunities,
the Group has established top-down risk management system
for operational risks:
The Board
1. Responsible for reviewing development plans and
systems concerning climate changes;
2. Formulating the Group’s strategic positioning and
industrial layout for the acomplishment of ESG goals;
and
3. Monitoring and making sugestions to the execution
plan and busines performance in energy conservation
and emisions reduction.
34Vico International Holdings Limited Anual Report 2024/2025
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
审核委员会
协助董事会识别、评估和管理与气候相关事宜和
环境保护相关的风险和影响。
执行机构和部门
- ，制定部门层面的
碳足迹目标和行动计划；及
- ，以管理我们的温室
气体排放和能源效率目标。
于报告期间，我们评估了与气候相关的潜在风
险，并制定了相关的应对措施，包括：
风暴
随著台风频率的增加，可能会导致营运中断以及
对库存控制和营运设施的损害，这会限制本集团
的销售业绩。此外，这也可能危及员工安全并造
成环境污染。为了减少潜在的影响，我们：
1. 密切关注香港天文台发布的恶劣天气预
警；
- ，定期开展应急演习；
- ，以减少
中断；
- ，提高防灾水平；及
- ，以尽量
减少局部地区风暴破坏的影响。
Audit Comite
Asist the Board in identifying, asesing, and managing
the risks and impacts related to climate-related-isues and
environment protection.
Executive Bodies and Departments
1. Implementing the Group’s carbon reduction strategies,
and formulating department level carbon fotprint
targets and action plans; and
2. Designing and executing energy conservation plans
to manage our grenhouse gas emisions and energy
eficiency goals.
During the Reporting Period, we evaluated potential climate-
related risks and formulated relevant countermeasures,
include:
Storms
As the frequency of typhons increases, there may be
operational interuptions and damage to inventory control
and operational facilities, which can limit the Group’s sales
performance. Aditionaly, it may endanger employe safety
and cause environmental polution. To reduce the potential
impact, we:
1. Closely monitor the early warnings for severe weather
isued by Hong Kong Observatory;
2. Establish disaster emergency plans, and regularly cary
out emergency drils;
3. Prioritize placing production lines and inventory indors
to minimize disruptions;
4. Constantly cary out facility maintenance as to improve
disaster protection level; and
5. Consider diversifying suply chanels and warehouse
locations to minimize the impact of localized storm
damage.
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环境、社会及管治报告
水灾
严重的暴雨和洪水可能会导致本集团的运营和保
养成本增加（例如损害本集团的产品交付车队）。
为了减少潜在的影响，我们：
1. 定期检查位于我们的停车场和仓库的排水
系统的状态，并在发现缺陷时联系渠务署
进行维修和排水；
2. 鼓励部门教育员工促进节能和气候脆弱性
的重要性；
- ；及
- ，以保
护仓库、车队存放和关键运营基础设施。
温度变化的长期影响
温度变化的长期影响可能会影响湿度水平，从而
可能影响我们产品原材料的品质。为了缓解这一
问题，我们：
- ，以保持稳定的温
度和湿度水平，确保原材料的最佳储存条
件；及
- ，跟踪存储区域的温度和湿
度水平。
Flods
Severe rainstorms and flods may lead to higher operation
and maintenance costs of the Group (such to damage to the
Group’s flet for product delivery). To reduce the potential
impacts, we:
1. Conduct regular check on the condition of the drainage
system located in our parking and warehouse and
contact Drainage Services Department for repair and
desilting when defects noted;
2. Encourage departments to educate the employes
about the importance of promoting energy conservation
and climate vulnerability;
3. Reduce the financial los via insurance; and
4. Implement flod bariers and elevated storage solutions
to protect warehouses, flet storage, and critical
operational infrastructure.
Long-term efects of temperature changes
The long-term efects of temperature changes may impact
humidity levels, potentialy afecting the quality of our raw
materials for products. To mitigate this isue, we:
1. Invest in climate-controled facilities to maintain
consistent temperature and humidity levels, ensuring
optimal conditions for storing raw materials; and
2. Instal monitoring systems to track temperature and
humidity levels in storage areas.
36Vico International Holdings Limited Anual Report 2024/2025
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
市场
消费者对环保产品及低碳替代品的偏好转变为本
集团带来了风险和机遇。市场需求的变化可能会
影响产品销售，并需要作出调整以保持竞争力。
为了提高客户对我们的产品信心，我们：
- ，推出更多低硫酸盐
灰分、磷和硫产品以及其他环保选项；
- ，以
更环保；及
3. 向携带可重复使用容器的消费者提供折
扣。
声誉
持份者越来越关注本集团对气候变化和可持续发
展的应对。未能满足期望可能会对我们的声誉产
生不利影响。因此，我们：
- （例如每年参加地球
一小时，促进节能意识），最大限度地减少
浪费、收集和回收材料以及购买绿色办公
室产品来创造更可持续的工作场所；
- ；及
- ，确保将具有
气候意识的实践融入企业文化。
Market
Shifting consumer preferences towards environmentaly
friendly products and low-carbon alternatives present both
risks and oportunities for the Group. Changes in market
demand may influence product sales and require adaptation
to remain competitive. To build greater customers confidence
in our products, we:
1. Widen our product range by introducing more low-
sulfated ash, phosphorus, and sulfur products, as wel
as other environmentaly friendly alternatives;
2. Use reusable packaging for our products in order to be
more eco-friendly; and
3. Ofer discounts to consumers who bring reusable
containers.
Reputation
Stakeholders’ atention is increasingly focused on the Group’s
responses to climate change and sustainability. Failure to met
expectations may adversely impact our reputation. Therefore,
we:
1. Actively adopt gren ofice initiatives (such as joining
Earth Hour anualy to promote the awarenes of energy
conservation) to create more sustainable workplaces
by minimizing waste, colecting and recycling materials
and purchasing gren ofice products;
2. Atentively listen and respond to stakeholders’
concerns; and
3. Provide sustainability training to employes, ensuring
that climate-conscious practices are embeded within
the corporate culture.
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环境、社会及管治报告
法规与法律
随著气候相关法规日益严格，本集团必须主动管
理合规风险，以避免法律风险和营运成本上升。
为了领先于法规变化，本集团密切监控当地和国
际环境政策。本集团正投资于可持续发展的业务
实践，包括采用循环经济原则，例如产品再使
用、回收及资源效率。该等措施不仅有助于遵守
生产者责任延伸法规，亦能降低违规惩罚的风
险。
实体急性风险
本集团已识别可能导致实际短期风险的极端天气
事件，如台风、暴雨、雷电及洪水。该等极端天
气事件影响我们生产设备的正常运作，阻碍及
危害我们雇员的健康与安全，并干扰本集团的供
应链，从而影响甚至中断业务营运，并损害本集
团的资产。上述潜在后果将对本集团造成经济损
失，并增加营运成本。
Regulatory and Legal
With increasingly stringent climate-related regulations, the
Group must proactively manage compliance risks to avoid
legal exposure and rising operational costs.
To stay ahead of regulatory changes, the Group closely
monitors both local and international environmental policies.
Investments are being made in sustainable busines practices,
including the adoption of circular economy principles such
as product reuse, recycling, and resource eficiency. These
initiatives not only suport compliance with extended producer
responsibility regulations but also mitigate the risk of non-
compliance penalties.
Physical Acute Risk
The Group has identified extreme weather events that could
cause actual short-term risks, such as typhons, heavy rain,
thunder, and flods. These extreme weather events afect
the normal operation of our production equipment, obstruct
and endanger the health and safety of our employes, and
disrupt the suply chain of the Group, thereby disrupting or
even halting the busines operations and damaging the asets
of the Group. The above potential consequences wil cause
economic loses to the Group and increase operating costs.
38Vico International Holdings Limited Anual Report 2024/2025
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
本集团已制定不同措施，以防止及尽量减少极端
天气的负面影响。
The Group has established diferent measures to prevent and
minimize the negative impact of extreme weather.
Extreme weather
Physical Acute Risk Preventative and mitigation
measures
极端天气实体急性风险预防及缓解措施
Typhons, Heavy rain and Floding, Thunder and
Lightning
• Move materials and equipment to safety areas in
advance, or covered with a tarp
• Reinforce equipment and components that may be
blown/washed away
• Stop al outdor work
• Clean up trash and make sure drains unblocked
• Maintain drainage equipment
• Kep god conditions of earthing devices
• Control travel and outdor work before the arival
of lightning
• Remind employes to save data and turn of
computers
• Monitor local weather conditions
• Provide flexible work arangements with
precautionary measures in place
• Improve emergency plans and upgrade equipment
台风、暴雨及洪水、雷暴及闪电• 提前将材料及设备转移到安全区域，或用篷布覆盖
- ╱冲走的设备及部件
• 停止一切户外工作
- ，确保排水沟畅通无阻
• 保养排水设备
• 保持土方设备完好
• 于雷电到来之前控制出行及户外工作
• 提醒员工备份数据及关掉电脑
• 监测当地天气状况
- ，并采取预防措施
• 完善应急计划及提升设备
392024/2025年报 域高国际控股有限公司
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
实体慢性风险
本集团深明极端高温等长期实体风险会带来巨大
挑战。可能导致的后果或会涉及户外及工作间的
员工有较高的中暑风险、离职率增加及工伤增
加。该等后果亦可能导致对工作空间冷却的需求
增加，潜在增加电力使用量及运营成本。为减轻
该等潜在负面影响，本集团已实施多项措施。
本集团已制定以下多种措施，以防止及尽量减少
极端天气的负面影响。
过渡性风险
在朝著低碳经济转型的过程中，我们深明潜在的
相关转型风险。该等风险包括政策及法律变化、
技术进步、市场变动及与气候变化相关的声誉因
素。本集团致力于积极管理该等风险，以确保我
们业务的可持续性。
气候相关法规及标准的出台可能导致合规成本增
加及潜在法律风险。为减轻该等风险，我们密切
关注最新的法规发展，确保我们遵守所有相关法
律法规。我们亦与监管机构进行积极对话，以预
测未来的变化并做好相应准备。
Physical Chronic Risk
The Group recognizes that long-term physical risks such as
extreme heat can present a substantial chalenge. Posible
outcomes may involve a higher risk of heatstroke for our
outdor and workshop employes, an increase in employe
turnover, and a rise in work-related acidents. This could also
result in a greater ned for workspace coling, potentialy
bosting electricity usage and operational costs. To mitigate
these potential negative efects, the Group has implemented a
variety of measures.
The Group has established diferent measures as below to
prevent and minimize the negative efect of extreme weather.
Extreme weather
Physical Chronic Risk Preventative and mitigation
measures
极端天气实体慢性风险预防及缓解措施
Extremely hot weather• Open windows to alow the air to circulate
• Kep a First-aid kit convenient
• Kep cold water available 24 hours a day
极热天气• 打开窗户，令空气流通
• 保证急救箱方便取用
• 每天24小时保持冷水供应
Transitional Risk
As we navigate the transition to a low-carbon economy,
we recognize the potential for asociated transition risks.
These include policy and legal changes, technological
advancements, market shifts and reputational factors relating
to climate change. The Group is comited to managing these
risks proactively to ensure the sustainability of our operations.
The introduction of climate-related regulations and standards
can lead to increased costs of compliance and potential
legal risks. To mitigate these risks, we stay abreast of the
latest regulatory developments, ensuring our compliance
with al relevant laws and regulations. We also engage in
active dialogue with regulatory bodies to anticipate upcoming
changes and prepare acordingly.
40Vico International Holdings Limited Anual Report 2024/2025
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
市场向更环保的产品及服务转变，如管理不善，
亦可能构成风险。我们密切关注市场趋势，调整
我们的产品及服务，以满足消费者对更绿色、更
可持续的选择的不断演变的偏好。
本集团已制定以下不同措施，以防止及尽量减少
过渡风险的负面影响。
Market shifts towards more environmentaly friendly products
and services can also pose a risk if not properly managed. We
maintain a close watch on market trends, adapting our product
and service oferings to met evolving customer preferences
for grener, more sustainable oferings.
The Group has established diferent measures as below to
prevent and minimize the negative efects of transitional risk.
Legal risk and market risk
Transitional Risk Preventative and mitigation
measures
法律风险及市场风险过渡风险预防及缓解措施
Legal risk
Exposure to litigation risk. We have to adapt to the
tightened laws and regulations imposed by the
government due to climate change, as wel as bear the
risk of potential litigation once we fail to comply with the
new regulations.
- ’s climate-related
policies and measures to ensure that we stay up to
date with the latest government policies, regulatory
updates
• Continue monitoring of the ESG reporting
standards of the Hong Kong Listing Rules
• Inform relevant departments about the regulatory
updates relevant to climate change in time, where
necesary, to be prepared to comply with new
policies
法律风险
面临诉讼风险。我们必须适应政府因气候变化而实施的严
格的法律法规，一旦我们未能遵守新法规，我们必须承担
潜在诉讼的风险。
- ，以确保我
们紧跟最新的政府政策、监管更新
• 持续监控香港上市规则的ESG报告标准
- ，及时通知相关部门有关气候变化的监管更
新，以准备遵守新政策
Market risk
More customers are concerned about climate-related
risks and oportunities, which may lead to changes in
customer preference.
• Fulfil the climate-related regulations by the
government
• Prioritize the climate change as a high concern
in the market decisions to show to the clients that
the Company is concerned about the problem and
chalenges of climate change
市场风险
越来越多的客户关注与气候相关的风险及机遇，可能导致
客户偏好的变化。
• 履行政府的气候相关法规
- ，向客
户展示本公司对气候变化的问题及挑战的关注
412024/2025年报 域高国际控股有限公司
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
展望未来，本集团对气候变化问题保持警惕。我
们将定期评估及跟踪气候相关风险，以完善我们
的管理策略。此外，我们重新聚焦于提升应对
气候变化的能力。此举可能涉及改善应急计划或
升级设备，以减轻对我们业务营运的任何重大影
响。
指标与目标
我们非常清楚气候变化对社区的实际和潜在影
响，因此我们致力于二零四零年前在我们的运营
中实现净零排放，到二零五零年前在整个供应链
中实现净零排放。我们将遵循《巴黎协定》，限制
温度升高在1.5˚C范围内，并开始实施既定的业务
战略，以减少业务的碳足迹，特别是污染物排放
管理。请参阅「空气污染物排放管理」一节以获取
更多细节。
水资源管理
水是我们营运中的重要资源，本集团致力于优化
用水，同时确保我们生产流程的可持续性。虽然
我们从水务署采购水资源，在取水方面并无遇到
任何挑战，但我们仍保持警惕，并监察与水供应
相关的潜在风险。我们的水资源管理方法旨在提
高有关收入的用水效率，并确认用水与生产活动
之间的直接关系。该政策将节约用水措施与能源
优化和废弃物管理工作相结合，以提高整体资源
效率。
Moving forward, the Group remains alert to climate change
concerns. We’l routinely ases and track climate-related
risks to refine our management strategies. Moreover, we’re
focused on enhancing our capacity to handle climate change.
This could involve improving emergency plans or upgrading
equipment to mitigate any major efects on our busines
operations.
Metrics and Targets
We are very aware of the actual and potential impacts of
climate change on comunity, so we are comited to
achieving net zero emisions within our operations by 2040
and acros our suply chain by 2050. We wil be in line with
the “Paris Agrement” to limit the temperature raise within
1.5ºC, and wil begin to implement the established busines
strategy to reduce the carbon fotprint of our operations,
especialy polutants emisions management. Please refer to
the “Air Polutants Emision Management” section for more
details.
WATER MANAGEMENT
Water is a critical resource in our operations, and the Group
comited to optimizing water usage while ensuring the
sustainability of our production proceses. Although we
face no chalenges in acesing water, sourcing it from the
Water Suplies Department, we remain vigilant and monitor
potential risks related to water availability. Our aproach
to water management was designed to enhance water
eficiency relative to revenue generation, recognizing the direct
relationship betwen water usage and production activities.
This policy integrated water conservation measures with
energy optimization and waste management eforts to improve
overal resource eficiency.
42Vico International Holdings Limited Anual Report 2024/2025
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环境、社会及管治报告
We conducted routine maintenance and used advanced
monitoring systems to prevent water leakage and optimize
water usage eficiency. These initiatives suported our
broader sustainability goals by reducing both water and
energy consumption. Employe engagement was an esential
component of our water management eforts. We encouraged
employes to adopt water-saving behaviors through awarenes
programs and the promotion of reusable alternatives. Through
ongoing education and participation, employes were
empowered to contribute to the suces of our sustainability
initiatives.
We aligned water usage with production output to improve
water eficiency in line with revenue growth. By tracking water
consumption relative to production, we continuously asesed
and improved our water eficiency. Regular asesments of
water usage, as part of our broader environmental impact
reviews, ensured consistency with our energy and waste
management goals.
Water Eficiency Target in 2040
Water consumption is directly proportional to our production.
We aimed to enhance the water eficiency of our production
proces by 8% in 2040. The Company has established water
management policy and water conservation initiatives and
encouraged employes to folow during our daily operation.
WASTE MANAGEMENT
As the world’s population and its afluence grow, we are
making more eforts to avoid and reduce waste in every part
of our operations. Employes are encouraged to reduce
waste via improved procurement and operations, as wel as
by using fewer packaging and more sustainable materials.
Relying on waste as a resource improves eficiency, reduces
costs, and reduces our environmental impact. Our goal is to
minimize waste as wel as to recycle, reuse, and return it to the
environment as our best.
我们进行例行维护，并采用先进的监测系统，以
防止漏水并优化用水效率。该等措施减少了水和
能源的消耗，有助于我们实现更广泛的可持续发
展目标。员工参与是我们水资源管理工作的重要
组成部分。我们透过认知计划和推广可重复使用
的替代品，鼓励员工采取节约用水的行为。透过
持续的教育和参与，员工能够为我们可持续发展
措施的成功做出贡献。
我们将用水量与生产量相结合，以提高用水效
率，与收入增长保持一致。透过追踪相对于生产
的耗水量，我们持续评估并改善用水效率。作为
更广泛的环境影响审查的一部分，我们定期评估
用水量，确保与我们的能源和废弃物管理目标保
持一致。
二零四零年用水效率目标
水的消耗与我们的生产量成正比。我们的目标是
到二零四零年前将生产过程的水效率提高8%。本
公司制定了水资源管理政策和水资源保护措施，
鼓励员工在日常运营中遵循。
废物管理
随著世界人口和财富的增长，我们正在做出更多
的努力避免和减少我们运营的每个部分的浪费，
鼓励员工通过改善采购和运营，以及使用更少的
包装和更可持续的材料以减少浪费。以废物作为
一种资源提高了效率，降低了成本，并减少了我
们对环境的影响。我们的目标是最大限度地减少
废物，妥善回收、重用，并将其作为我们最好的
东西回馈大自然。
432024/2025年报 域高国际控股有限公司
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
此外，废物管理与我们对减少废物的承诺相辅相
成。基于3R原则（减废、重用、回收），我们采取
了许多措施来舒缓垃圾堆填区的压力。我们谨慎
处理和收集生产过程中产生的废物，例如用作储
存汽油的罐头。部分储油瓶会从客户处回收再利
用，用于装载同类型的产品，而一些包装物料将
由客户循环再用。在废水处理方面，污水的排放
严格遵守所有适用的规则及法规。
本集团高度重视如何管理废物产生和资源保护，
努力减少碳足迹。本集团产生的废物大致可分为
无害废物和有害废物。我们的无害废物主要来自
员工在办公过程中产生的一般办公垃圾。这些废
物由我们办公室所在的建筑物的管理公司收集和
处理。而有害废物如用过的碳粉盒和电池同样由
办公室产生，并由合资格公司回收。
由于我们的业务性质，本集团在生产润滑油及石
油化工产品时可能会产生危险废物。为妥善处理
废物，我们根据《废物处置（化学废物）（一般）规
例》（香港法例第354章）聘请持牌废物收集商。为
了社会的最大利益，本集团尽最大努力防止对环
境造成损害。
Aditionaly, our dedication to waste reduction complements
our waste management eforts. We have taken a number of
steps to lesen the strain on landfils based on the 3R concept
(Reduce, Reuse, Recycle). We responsibly proces and
gather production trash, such as cans for storing gasoline.
While some package cariers would be handled by clients for
reusing purposes, some fuel storage cylinders from clients
would be recycled and used for transporting the same type of
gods. The discharge of sewage has strictly complied with al
aplicable rules and regulations with regard to wastewater.
The Group strives to reduce carbon fotprint through puting
considerable focus on managing our waste generation and
resource conservation. The waste generated by the Group can
be broadly divided into harmles waste and hazardous waste.
Our harmles waste is mainly from the general ofice waste
produced by stafs during ofice operations. It is colected and
treated by the management company of the buildings where
our ofices are located. Hazardous waste such as used toner
cartridges and bateries are also generated from ofices and
are colected by qualified parties.
Due to nature of our busines, the Group may produce
hazardous waste during the production of lubricants and
petrochemical products. In order to properly handle the waste,
we engage licensed waste colectors in acordance with
the Waste Disposal (Chemical Waste) (General) Regulation
(Chapter 354 of the Laws of Hong Kong). The Group strives
with our best eforts to prevent harm to the environment in the
best interests of the society.
44Vico International Holdings Limited Anual Report 2024/2025
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
报告期间废弃物产生量：The amount of waste produced during the Reporting Period:
WeightTotal WeightIntensity
Type of Waste废物种类重量总重量密度
(kg)(kg)
(kg per milion
Hong Kong
dolars of
revenue)
（千克）（千克）
（千克╱百万港元
收益）
Total Waste废弃物总量2,268.71.5
A) Non-hazardous waste
(domestic waste)
A) 无害废弃物
（家居废物）1,851.51.2
Disposed at landfil堆填处理31.6
Recycled
(comercial waste)
回收
（商业废物）
Disposed at landfil堆填处理1,582.7
Recycled回收237.2
B) Hazardous waste
(comercial waste)
B) 有害废弃物
（商业废物）388.10.3
Recycled回收388.1
C) Other wasteC) 其他废弃物29.10.02
Toner cartridges碳粉盒23.4
Light bulbs灯泡3.1
Bateries电池2.6
Waste produced – By category
所产生的废弃物 – 按种类划分
17.1%
81.6%
1.3%
Hazardous waste
Non-hazardous waste
Other waste
有害废弃物
无害废弃物
其他废弃物
452024/2025年报 域高国际控股有限公司
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
二零三五年减废目标
为响应香港政府的「香港资源循环蓝图二零三五」
目标，本集团已设定于二零三五年前将堆填区
的商业废物（不包括可回收废物）处置量较二零二
五年的1,582.7千克商业废物处置量减少5%的目
标。这一目标将通过优化供应链、改进包装、员
工教育及消费者参与来实现。本集团的废物管理
策略已融入其更广泛的绿色营运方式中，强调资
源效率、减少废物及优化能源与水的使用。
可持续包装及供应链管理是本集团重点关注的领
域。本集团致力扩大可重复使用包装的使用，并
为使用自带容器的消费者提供激励措施。在与供
应商合作方面，本集团致力开发环保包装解决方
案并尽量减少多余材料。于运营过程中，本集团
优先通过提高生产效率、推广双面打印及转向无
纸化工作流程来减少废物。此外，本集团已优化
其电子商务平台以减少对实体材料的依赖，从而
尽量减少包装及运输中的废物。
员工参与是本集团减废倡议的核心。减废培训已
纳入员工入职及持续发展计划中，确保全体员工
均了解减少废物的最佳实践。本集团亦鼓励使用
可重复使用的替代品，如午餐盒、水壶及餐具，
以代替一次性用品。为进一步推广环境责任，本
集团已推出「环保大使」计划，激励全组织员工。
回收及资源保护是本集团废物管理策略的重要组
成部分。员工积极参与回收挑战，而本集团优先
使用可持续办公用品，包括可充电池及可再装
填笔。定期进行的废物审计及可持续发展报告使
本集团能够跟踪减废目标的进展，并确保持续改
进。
Waste Reduction Target in 2035
In response to the Hong Kong Government’s “Waste Blueprint
for Hong Kong 2035,” the Group has set a target to reduce
comercial waste disposal at landfils, excluding recyclable
waste, by 5% by 2035, compared to the disposed comercial
waste of 1,582.7 kg in 2025. This goal wil be achieved through
suply chain optimization, packaging improvements, employe
education, and consumer engagement. The Group’s waste
management strategy was integrated into its broader gren
operations aproach, which emphasized resource eficiency,
waste reduction, and the optimization of energy and water
usage.
Sustainable packaging and suply chain management were
key focus areas for the Group. It aimed to expand the use of
reusable packaging and ofer incentives to consumers who
used their own containers. In colaboration with supliers, the
Group worked to develop eco-friendly packaging solutions and
minimize exces materials. Within its operations, the Group
prioritized waste reduction by improving production eficiency,
promoting double-sided printing, and shifting towards
paperles workflows. Aditionaly, the Group optimized
its e-comerce platforms to reduce reliance on physical
materials, minimizing waste in packaging and shiping.
Employe engagement was central to the Group’s waste
reduction initiatives. Waste reduction training was integrated
into employe onboarding and ongoing development
programs to ensure al employes were educated on best
practices for reducing waste. The Group also encouraged
the use of reusable alternatives such as lunchboxes, water
botles, and cutlery to replace single-use items. To further
promote environmental responsibility, the Group launched a
“Gren Ambasador” program to inspire employes acros the
organization.
Recycling and resource conservation were esential
components of the Group’s waste management strategy.
Employes actively participated in recycling chalenges, and
the Group prioritized the use of sustainable ofice suplies,
including rechargeable bateries and refilable pens. Regular
waste audits and sustainability reports alowed the Group to
track progres toward its waste reduction goals and ensure
continuous improvement.
46Vico International Holdings Limited Anual Report 2024/2025
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
于报告期间，在重新包装石油化工产品时所消耗
的包装材料重量如下：
空气污染物排放管理
本集团意识到空气污染对健康及全球气候变化造
成的影响，因此持续努力为员工、顾客及广大社
区的福祉改善空气质量。在业务扩展的同时，本
集团也积极减少碳足迹。由于本集团拥有一支车
队用于支援日常运输服务，因此因使用车辆而排
放空气污染物。在报告期间，因车辆使用而产生
的空气污染物排放量如下：
Packaging materials were used during the repackaging
of petrochemical products. The consumption during the
Reporting Period was as folows:
Weight
Type of Packaging Material包装材料种类重量
(tones)
（吨）
Paper纸41.5
Plastic塑胶54.9
Metal金属0.3
Intensity (tones/milion Hong Kong dolars of
revenue)
密度（吨╱百万港元收益）
0.1
AIR POLUTANTS EMISION MANAGEMENT
The Group is conscious about the health impacts and global
climate change caused by exposure to air polution and
thus continues our eforts in contributing to beter air quality
for wel-being of our employes, customers, and the wider
comunity. The Group has ben making steady progres
in diminishing our carbon fotprints acros of busines. The
Group owns a flet of vehicles in suporting its logistics
operations, air polutants were emited from the use of vehicles.
The air polutant emisions from the use of vehicles during the
Reporting Period were as folows:
Weight
Type of Emisions排放种类重量
(kg)
（千克）
Nitrogen Oxides (NOx)氮氧化物(NOx)670.1
Sulphur Oxides (SOx)硫氧化物(SOx)0.8
Particulate Mater (PM)颗粒物(PM)64.6
472024/2025年报 域高国际控股有限公司
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
温室气体（「温室气体」）排放
除了空气污染物，温室气体是本集团空气排放的
另一种主要类型。我们的车队不仅释放污染物，
还释放二氧化碳(CO2)、甲烷(CH4)和氧化亚氮
(N
O)等温室气体。此外，我们主要办事处和仓库
的运营还将通过电力消耗、水和污水处理、纸张
处理和员工商务旅行直接或间接排放温室气体。
在报告期间，本集团的温室气体排放情况如下：
Air polutants emision from the use of vehicles
车辆使用产生的空气污染物排放量
2023/242024/25
670.1
779.0
1,000
(
k
g
/
千
克
)
2023/242024/25
0.8
0.4
0.0
0.1
0.3
0.2
0.4
0.6
0.5
0.9
0.8
0.7
(
k
g
/
千
克
)
2023/242024/25
64.6
67.6
(
k
g
/
千
克
)
Nitrogen oxides (NOx)Par�culate Ma�er (PM)Sulphur oxides (SOx)
氮氧化物(NOx)颗粒物(PM)硫氧化物(SOx)
Grenhouse Gas (“GHG”) Emisions
Apart from the air polutants, grenhouse gas is another major
type of air emision of the Group. Our flet of vehicles releases
not only polutants, but also grenhouse gases such as
carbon dioxide (CO
), methane (CH
) and nitrous oxide (N
O).
Moreover, the operation of our principal ofice and warehouse
wil also directly or indirectly emit grenhouse gases through
electricity consumption, water and sewage treatment, paper
disposal and busines trips by stafs. During the Reporting
Period, the Group’s grenhouse gas emisions were as folows:
Weight
Types of Emisions排放种类重量
(tones CO2e)
（吨二氧化碳
当量）
Total emisions总排放量184.3
Direct Emisions (Scope 1)
直接排放（范围1）
134.9
Energy Indirect Emisions (Scope 2)
能源间接排放（范围2）
42.5
Other Indirect Emisions (Scope 3)
其他间接排放（范围3）
6.9
Intensity (tones CO2e/milion Hong Kong dolars of
revenue)
密度（吨二氧化碳当量╱百万港元
收益）0.1
48Vico International Holdings Limited Anual Report 2024/2025
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
附注：
- 。
- 。
- ，用以处理食水和污水耗
用电力，以及员工外出公干所排放的温室气体。
空气污染会影响环境。本集团致力于降低空气污
染物产量。例如，我们鼓励采用符合欧盟五期或
更高标准的低排放汽车和无铅燃料，因为它们燃
烧更清洁。我们还对我们的汽车进行常规维护，
以阻止石油和化学品泄漏，从而提高能源效率。
为了促进能源效率，我们实施以下政策和措施：
- ，并在使用后关闭
它们；
- 「节约能源」提示，并鼓
励员工在离开时关闭灯光；
- ；
Grenhouse Gas Emisions
温室气体排放
2023/242024/25
134.9
62.5
2023/242024/25
6.9
4.3
2023/242024/25
42.5
40.4
(
t
o
n
n
e
s
C
O
₂
e
/
吨
二
氧
化
碳
当
量
)
(
t
o
n
n
e
s
C
O
₂
e
/
吨
二
氧
化
碳
当
量
)
(
t
o
n
n
e
s
C
O
₂
e
/
吨
二
氧
化
碳
当
量
)
Direct Emisions (Scope 1)Other Indirect Emisions (Scope 3)Energy Indirect Emisions (Scope 2)
直接排放（范围1）其他间接排放（范围3）能源间接排放（范围2）
Remarks:
1. The data includes GHG emisions from the combustion of fuels in ofice
vehicles.
2. The data includes GHG emisions from the generation of purchased
electricity.
3. The data includes GHG emisions from the landfil disposal of paper
waste, electricity consumption for freshwater and sewage procesing,
and busines travel by employes.
Environmental efects of air polution exist. The Group is
dedicated to lowering air polution production. For instance, we
encourage the adoption of low-emision cars that met Euro V
or higher criteria and unleaded fuels since they burn cleaner.
We also perform routine maintenance on our cars to stop oil
and chemical leaks, which enhances energy eficiency. In
order to promote energy eficiency, we implement the folowing
policies and measures:
1. Utilizing energy-eficient equipment in its ofices and
turning them of after use;
2. Pasting “Energy Saver” labels beside the power
switches and encourage stafs to turn of lights when
away;
3. Turning of indor lighting when sunlight is suficient;
492024/2025年报 域高国际控股有限公司
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
- ；
5. 要求员工在不使用时将印表机和电脑设置
为睡眠╱待机模式；
- ，以避免办公温度过低，并
设置温度计以监控室温，以保持室内温度
在适宜水平；以及
- 。
在报告期间，我们并未发现任何《空气污染管制
条例》（香港法例第311章）等相关法律法规不合规
情况。
二零三五年减排目标
碳达峰及碳中和是中国内地及香港近年全力推行
的环保政策。本集团希望透过实行供应链管理、
消费者参与、员工教育及培训计划，在二零三五
年前实现减少5%总排放量的目标，提升我们的竞
争力。于车队管理及员工培训方面，我们的策略
包括：
- ，更好地控制排放；
2. 将欧盟五期或以上标准的车辆和电动汽车
纳入我们的车队，以减低排放；
- ；
- ，以改善空气品质
和减少污染物排放；以及
- 「绿色营运」原
则。
4. Strictly switching of al the power during non-ofice
hours;
5. Asking employes to set the printers and computers to
slep/standby mode when they are not in use;
6. Adjusting air-conditioning systems to avoid the
ofice temperature being unecesary low, and set
a thermometer to monitor the rom temperature for
keping the indor temperature at an apropriate level;
and
7. Procuring energy-eficient ofice equipment with
reference to energy labels.
During the Reporting Period, we were not aware of any non-
compliance with relevant laws and regulations such as the Air
Polution Control Ordinance (Chapter 311 of the Laws of Hong
Kong).
Emision Target in 2035
Carbon emision peak and carbon neutrality are environmental
policies that have ben fuly implemented in Mainland
China and Hong Kong in recent years. By implementing
a combination of suply chain management, consumer
engagement, employe education and training initiatives, the
Group aims to achieve the target of reducing total emisions
by 5% by 2035 in order to enhance our competitivenes. For
flet management and employe trainings, our strategies
included:
1. Optimizing the routes of product delivery for the beter
control of emision;
2. Integrating Euro V or above standards vehicles and
electric vehicles into our flet to combust les emision;
3. Encouraging the consumption of low sulphur fuel oil to
reduce emision;
4. Strictly Requiring drivers to switch of idling engines to
improve air quality and reduce polutant emisions; and
5. Continualy enforcing our “Gren Operations” principle
in the workplaces.
50Vico International Holdings Limited Anual Report 2024/2025
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
能源消耗管理
本集团公司车队的燃料消耗造成了直接能源消
耗，而使用电力造成了间接能源消耗。为了减轻
能源消耗的影响，从而减少车辆使用（为主要排放
来源）的温室气体排放，本集团采取了一系列措
施，例如定期检查车辆，以防止燃油泄漏，从而
优化燃油效率。司机亦须停车熄匙，以最大限度
地减少能源浪费。报告期间本集团的能源消耗如
下：
附注：
- 。
- 。
二零四零年能源节约目标
就通过供应链管理、消费者参与、员工教育和科
技手段于二零四零年前节能5%所实施的战略如
下：
本公司
- ，提高燃油
效率和排放控制；
- ，改变他们的
驾驶行为，以提升燃油效率；
- 「绿色营运」倡议，减少能
源使用和浪费；以及
4. 投资更高能效的设备和装置以减少能源消
耗。
ENERGY CONSUMPTION MANAGEMENT
The Group consumed energy directly through fuel
consumption of the company flet, and indirectly through
the use of electricity. To mitigate the impacts of the energy
consumption hence reduce grenhouse emision from the
use of vehicles, which is the major emision source, the Group
has adopted a series of measures such as inspecting vehicles
regularly to prevent fuel leakage and hence optimize fuel
eficiency. Drivers are also required to switch of idling engines
to minimize energy wastage. The energy consumption of the
Group during the Reporting Period was as folows:
Energy consumption能源消耗
Total energy consumption (MWh)总能源消耗（兆瓦时）634.9
Direct energy consumption (MWh)
直接能源消耗（兆瓦时）
520.2
Indirect energy consumption (MWh)
间接能源消耗（兆瓦时）
114.7
Intensity (MWh/milion Hong Kong dolars of revenue)密度（兆瓦时╱百万港元收益）0.4
Remarks:
1. Direct energy consumption includes fuel consumption in vehicles.
2. Indirect energy consumption includes electricity purchased for
consumption.
Energy Conservation Target in 2040
To drive energy conservation by 5% through a combination of
suply chain management, consumer engagement, employe
educational and technical means by 2040, the strategies
implemented were as folow:
The Company
1. Flet management to optimize the routes of product
delivery for the improvement of fuel eficient and
emision control;
2. Provide regular trainings to our drivers to change their
driving behavior as to promote fuel eficiency;
3. Implement “Gren Operations” initiatives in workplaces
to decrease the usage of energy and waste; and
4. Invest in higher energy-eficient equipment and devices
to reduce the energy consumption.
512024/2025年报 域高国际控股有限公司
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
消费者
1. 鼓励他们使用我们的数位平台发票和订单
服务，以减少依赖纸张；
2. 向消费者提供电子报以宣传正确的驾驶习
惯；以及
3. 激励消费者重新使用包装或退回可重复使
用的容器。
供应链
- ；
- ；以及
- ，创建绿色包装解决方案。
本集团重视温室气体排放，这是温室效应和气候
变化的主要原因。气候变化导致水资源枯竭、农
业生产下降和生态失衡等问题。世界经济论坛二
零二年全球风险报告指出，气候变化、极端天
气和自然灾害是必须在全球范围内应对的关键风
险。我们加入全球应对气候变化的队伍，并致力
于通过一系列措施监测我们的碳足迹，如能源和
资源节约（详情请参阅「绿色营运」一节），与国际
社会合作，实现全球碳减目标。
在报告期间，本集团未曾涉及任何对本集团产生
重大影响的与排放相关法律法规有关的不合规案
件。
Consumers
1. Encourage their use of our digital platform for biling
and ordering service to reduce reliance on paper;
2. Provide e-newsleters to consumers to promote proper
driving practices; and
3. Motivate consumers to reuse packaging or return the
reusable containers.
Suply Chain
1. Chose eco-friendly supliers;
2. Consider the carbon fotprint generated during the
delivery proces; and
3. Colaborate with supliers to create gren packaging
solutions.
The Group pays atention to the emision of grenhouse
gases, which is the main cause of the grenhouse efect and
climate change. Climate change causes problems such as
depletion of water resources, decline in agricultural production
and ecological imbalances. We note that the Global Risks
Report 2022 of World Economic Forum has stated that climate
change, extreme weather and natural disasters are key risks
that must be adresed globaly. We join the global eforts in
combating climate change and are comited to monitoring
our carbon fotprint through a number of measures, such as
energy and resources conservation (for details, please refer to
the “Gren Operations” section) to work with the international
comunity and achieve global carbon reduction goals.
During the Reporting Period, the Group was not involved in any
case of non-compliance with relevant laws and regulations that
have a significant impact on the Group relating to emisions.
52Vico International Holdings Limited Anual Report 2024/2025
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
关怀雇员
本集团认同并珍惜员工的奉献精神，它是我们保
持商业成功的主要推动力。本集团宣导每位员工
在整个董事会得到公平和一致的待遇，并根据
《雇佣条例》的要求落实我们的雇佣常规。为了吸
引、保留和培养人才，我们致力于建立一个友好
而优渥的环境。
雇佣准则
我们拥有多样化的员工队伍，我们期望我们的员
工相互尊重和尊敬。为了确保所有员工的平等和
尊严，我们禁止基于性别、年龄、种族、宗教、
残疾、婚姻状况或政治观点的歧视。所有雇佣决
策均以平等机会为原则作出。我们遵守所有适用
的法律和法规，例如《雇佣条例》（香港法例第57
章）和《强制性公积金计划条例》（香港法例第485
章），以及《职业安全及健康条例》（香港法例第
509章）。
作为我们人力资源管理流程的一部分，我们采取
合理步骤来验证所有申请人的身份。所有员工都
有可依法强制执行的劳动合同，以保护他们的权
利。我们杜绝使用童工或强制劳工。
为了避免使用童工，人力资源部门在招聘过程中
对潜在员工进行背景检查和身份证件核查。如果
发现任何违反劳动准则的情况，将会终止雇佣。
此外，我们要求我们的员工签署劳动合同，当中
详细说明工作时长、员工福利和终止权利，以防
止任何形式的强制劳工。辞职后，我们将支付剩
余工资。报告期间并未发现任何与雇佣有关的违
规行为，有关违规行为一经发现，将根据相关合
同及法规处理。
CARE FOR OUR EMPLOYES
The Group recognizes and cherishes the dedication of
its employes, which serves as the primary engine for al
advancement toward sustaining our comercial suces.
The Group promotes the idea that each employe should
get fair treatment and consistency acros the Board, and
we implement our employment laws in compliance with the
requirements of the Employment Ordinance. In order to atract,
kep, and grow talent, we are comited to establishing a
welcoming and rewarding environment.
Employment Standard
We have a diverse workforce and we expect our employes
to treat one another with respect and dignity. In order to
ensure the equality and dignity of al employes, we prohibit
discrimination on the basis of gender, age, race, religion,
disability, marital status or political afiliation. Al employment
decisions are made in acordance with equal oportunity.
We comply al aplicable laws and regulation, such as the
Employment Ordinance (Chapter 57 of the Laws of Hong Kong)
and the Mandatory Provident Schemes Ordinance (Chapter
485 of the Laws of Hong Kong), the Ocupational Safety and
Health Ordinance (Chapter 509 of the Laws of Hong Kong).
As part of our human resources management proces, we
take reasonable steps to verify the identity of al aplicants. Al
employes are provided with legaly enforceable employment
contracts to protect their rights. No child or forced labour is
permited.
To avoid child labour, the human resources department
conducts background checks and identity document checks
for the potential employes during the recruitment proces.
The employment wil be terminated if any violation of labor
standards is found. Furthermore, we require our employes to
sign labor contracts that detail the working hours, employe
benefits, and termination rights to prevent any form of forced
labor. Upon resignation, a payment of the outstanding wages
wil be made. There have not ben any non-compliances in
relation to employment, which shal be handled in acordance
with relevant contracts and regulations once discovered during
the Reporting Period.
532024/2025年报 域高国际控股有限公司
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
截至二零二五年三月三十一日，本集团共聘用了
28名员工（全部位于香港）及有关本集团员工的具
体资料如下：
雇员福利及发展
本集团致力于成为一个负责任的企业，为我们的
员工提供一个体面的工作环境和职业发展机会。
本集团不断审查薪酬结构，以确保我们的员工享
有竞争力的薪酬待遇。除了基本工资之外，我们
还根据员工的个人表现和我们的财务表现提供酌
情花红。我们考虑对合格的员工作出内部晋升，
以表彰他们的努力和贡献。员工还享有关法规
规定的法定假期。
本集团致力于提供公平和激励的工作环境。就评
估而言，本集团进行年度评估，以实现我们追求
竞争力和动力的目标。我们还在评估中对他们
的职业发展提出建议，以保持我们的员工的竞争
力。我们还确保在作出任何晋升和解雇决定之前
对员工在工作中的态度、能力和表现进行仔细考
虑。我们考虑对合格的员工作出内部晋升，以表
彰他们的努力和贡献。
As of 31 March 2025, we employed a total of 28 employes
(al of which were located in Hong Kong) and the specific
information of employes at the Group was as folows:
2024/25
Workforce员工总数二零二四╱二五年
(persons)
（人）
By gender按性别划分
Male男16
Female女12
By employment type按雇佣类型划分
Ful-time全职28
Part-time兼职0
By age group按年龄层划分
<30<300
30–5030–5012
50>5016
Employe’s Benefits and Development
The Group strives to be a responsible busines that provides
a decent working environment and carer development
oportunities for our employes. The salary structure is
reviewed constantly to ensure that our employes enjoy
competitive remuneration package. Apart from basic salary,
we also ofer discretionary bonus based on individual
performance of the employes and our financial performance.
Competent employes wil be considered for internal promotion
in recognition of their eforts and contribution. Employes are
also entitled to statutory holidays as stipulated in relevant
regulations.
The Group strives to provide a fair and motivating working
environment. The anual apraisal is employed for evaluation
purpose to atain our goal of pursuing competitivenes and
motivation. We also make recomendations on their carer
development in the apraisal with a view to maintaining
the competitivenes of our employes. We also ensure that
thorough consideration of employe’s atitude, ability and
performance at work precedes every promotion and dismisal
decision. Competent employes wil be considered for internal
promotion in recognition of their eforts and contributions.
54Vico International Holdings Limited Anual Report 2024/2025
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
通过各种活动和措施，我们致力于提高员工的参
与度，促进我们组织内部的归属感。今年的亮点
之一是公司周年晚宴。我们在中式餐厅举办了一
场令人难忘的活动，将所有员工聚集在一起，庆
祝一场愉快的盛宴。该活动为我们的员工提供了
放松、社交和享受盛宴的机会，同时加强了我们
团队的联系。除了周年晚宴，我们还为我们的员
工组织定期的午餐及晚餐聚会。这些非正式的聚
会提供了一个轻松的环境，让同事互动，分享想
法，并建立日常工作职责以外的友好关系。
为了表彰他们的努力和奉献，我们实施了「每月之
星」计划。我们每月都会向一位优秀的员工送上
祝贺蛋糕。这个小的举动不仅强调了他们的成
就，而且也激励了其他人追求卓越。我们也了解
工作与生活平衡的重要性，以及家庭在我们员工
的生活中发挥不可或缺的作用。为了促进我们员
工之间的紧密联系，我们组织了一个特殊的晚餐
聚会，并鼓励员工邀请他们的家人。这个聚会提
供了一个放松的氛围和美味的菜肴，我们的员工
有机会向同事介绍他们的亲人。
Through various activities and initiatives, we aim to enhance
employe engagement and promote a sense of belonging
within our organization. One of the highlights this year was
the company anual diner. We organized a memorable
event at a Chinese restaurant, where we gathered al our staf
members for a delightful celebration. The event provided an
oportunity for our employes to unwind, socialize, and enjoy
a scrumptious feast while strengthening the bonds within our
team. In adition to our anual diner, we also organized
periodic lunch and diner gatherings for our staf. These
informal get-togethers ofer a relaxed seting for coleagues
to interact, share ideas, and build meaningful conections
beyond their everyday work responsibilities.
Anual DinerTeam Building
周年晚宴团队建设
To recognise their hard work and dedication, we have
implemented the “Star of the Month” initiative. Each month,
we honor an exceptional employe by presenting them with
a congratulatory cake. This smal gesture not only highlights
their achievements but also serves as motivation for others to
strive for excelence. We also understand the importance of
work-life balance and the integral role families play in the lives
of our employes. To foster stronger conections of our staf,
we organized a special diner gathering where employes
are encouraged to invite their family members together. This
gathering ofered a relaxed ambiance, delectable cuisine, and
an oportunity for our staf to introduce their loved ones to their
co-workers.
552024/2025年报 域高国际控股有限公司
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
本集团未曾涉及任何对本集团产生重大影响的与
雇佣或劳工准则相关法律法规有关的不合规情
况。报告期间，有关流失率的资料如下（全部位于
香港）：
雇员培训
我们高度重视员工的发展，我们认为这对我们的
长期繁荣至关重要。本集团将时间和资源投入到
员工培训和发展中，以确保我们的员工拥有广泛
和深入的知识和技能，以实现业务目标。管理层
设计的培训计划旨在满足我们员工的培训需求。
对于新员工，我们提供指导以加深彼等对本集团
运营实践的理解，以便彼等更好地融入。本集团
还促进公司内工作与生活平衡文化。此外，由内
部员工组织的定期培训旨在提高员工在业务营运
中的能力。
The Group has not ben involved in any case of non-
compliance with relevant laws and regulations that have a
significant impact on the Group relating to employment or
labour standards. During the Reporting Period, information
relating to turnover rate was as folows (al of which were
located in Hong Kong):
2024/25
Employe Turnover Rate员工流失率二零二四╱二五年
(%)
（百分比）
By gender按性别划分
Male男22.2
Female女0
By age group按年龄层划分
<30<300
30–5030–500
50>5024.2
Employes’ Training
We acord great importance to employe development
which we believe is crucial to our long-term prosperity. The
Group invests time and resources in employe training and
development to ensure that our employes have a breadth and
depth of knowledge and skils to achieve the busines goal.
The training plan devised by management aims to adres
the training neds of our employes. For new employes,
orientation is provided in order to depen their understanding
of operation practice of the Group for beter employe
integration. The Group also promotes the work-life balance
culture in the company. Besides, regular training organized by
our in-house employes is designed to enhance employes’
competency in the operation of our busineses.
56Vico International Holdings Limited Anual Report 2024/2025
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
报告期间，本集团的培训数据如下：
保障雇员的健康与安全
有效管理职业健康与安全以确保工作场所的安全
与健康极为重要。我们致力于提供安全健康的工
作环境，同时提高员工对职业健康与安全的认
识。本集团严格遵守有关职业健康与安全的本地
法律法规，如《职业安全及健康条例》（香港法例
第509章）和《消防条例》（香港法例第95章）。
During the Reporting Period, the training data of the Group
was as folow:
Percentage of Employes Trained受训员工百分比
2024/25
二零二四╱二五年
(%)
（百分比）
By gender按性别划分
Male男100.0
Female女100.0
By employe category按雇员类型划分
Senior management高级管理层100.0
Midle management中级管理层100.0
General staf一般员工100.0
Average Training Hours Completed per Employe每名员工平均完成受训时数
2024/25
二零二四╱二五年
(Hours)
（小时）
By gender按性别划分
Male男3.6
Female女3
By employe category按雇员类型划分
Senior management高级管理层6
Midle management中级管理层3
General staf一般员工3
PROTECT OUR EMPLOYES’ HEALTH AND SAFETY
It is important that we efectively manage ocupational health
and safety in order to ensure workplace safety and health.
We strive to ensure a safe and healthy working environment
while raising employes’ awarenes regarding ocupational
health and safety. The Group strictly adheres to local laws and
regulations regarding ocupational health and safety, such as
the Ocupational Safety and Health Ordinance (Chapter 509
of the Laws of Hong Kong) and the Fire Services Ordinance
(Chapter 95 of the Laws of Hong Kong).
572024/2025年报 域高国际控股有限公司
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环境、社会及管治报告
公平雇佣
我们的雇佣政策就尊重及促进平等机会提供指
引。我们于该政策中承诺为求职者提供平等机
会，实现男女同工同酬，并规定必须创造一个无
骚扰及歧视的环境。我们为年度绩效评估制定客
观绩效指标。主管与下属会进行双向沟通，讨论
雇员绩效以助其进步。雇员定期听取有关其工作
表现及能力的反馈，以取得进步并加强团队的竞
争力。
我们只会容许在合理及有充分理据的情况下作出
解雇。倘若有必要作出解雇，其必须是基于合
理、合法及获政策支持的理据，并根据适用的法
律及法规作出。我们会事先向雇员发出口头或书
面警告，让彼等有公平的机会进行改善。
防止童工及强制劳工
我们遵守相关的法定要求，严格禁止任何形式的
强制劳工及童工。在招聘过程中，人力资源部会
核实应征者的身份证明文件，并确保彼等已达到
最低就业年龄。本集团在雇佣合约中订明雇员的
工作日及休息时间，以杜绝强制劳工，并仔细监
督雇员的工作时间及安排，确保彼等乃自愿及自
由地工作。需要加班时，雇员可依法获得适当补
偿。
经理有责任提出对异常工作条件或行为的疑虑，
以杜绝人口贩运及现代奴役，从而确保本集团的
政策获得遵守。倘若发现任何童工或强制劳工的
情况，本集团会立即停止所有已查明属实的童工
或强制劳工。
后续将会进行调查，以找出原因及修改雇佣管理
措施，纠正漏洞。
Fair Employment
Our Employment Policy provides guidance on respecting and
promoting equal oportunity. The Policy states our comitment
to ofer equal oportunities to job candidates, equal
remuneration for men and women for work of equal value,
and mandates the ned for a harasment and discrimination-
fre environment. We have established objective performance
indicators for anual performance evaluation. The supervisor
wil engage with the employe on a two-way comunication
to discus his/her performance for advancement. Employes
regularly receive fedback for their work performance
and capabilities to make progres and enhance team
competitivenes.
We only alow reasonable and substantiated terminations
of employment. Dismisals, when required, are based on
reasonable and lawful grounds suported by policies and
are conducted in acordance with aplicable laws and
regulations. Prior verbal or writen warnings wil be isued to
provide a fair oportunity to employes for improvement.
Prevention of Child Labour and Forced Labour
We adhere to relevant statutory requirements and strictly
prohibit al forms of forced labour and child labour. During the
recruitment proces, the Human Resources Department wil
verify the aplicant’s identity documents and ensure that they
have reached the minimum age for employment. The Group
stipulates the working days and rest time for employes in the
employment contract to eliminate forced labour, and carefuly
monitor the employe working hours and schedules to ensure
they work voluntarily and frely. When overtime is required,
employes are properly compensated as required by law.
Managers are responsible for ensuring compliance with the
Group’s policies to eliminate human traficking and modern
slavery by raising concerns on abnormal work conditions or
behaviours. If any child labour or forced labour is found, the
Group wil imediately stop al work of the identified child
labour or forced labour.
Folow-up investigations wil be conducted to find out the
reasons and modify the employment management measures to
rectify the lopholes.
58Vico International Holdings Limited Anual Report 2024/2025
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
缔造安全的工作环境
本集团采取了一系列实际措施，以最大限度地减
少运营对健康和安全产生的任何负面影响。为了
为我们的员工维持安全的工作环境，我们提供
工作场所安全指引，并定期进行工作场所安全检
查，以确定每个工序所涉及的风险。为了应对风
险评估中发现的风险，我们已经实施了预防和保
护措施。在工作场所和展厅放置了安全和预警指
示牌，以提醒我们的员工、消费者和公众。我们
的行政部门鼓励员工和公众报告工作场所中的任
何潜在危险和风险，以便持续改善我们的工作场
所。此外，我们的员工还接受安全培训，以提高
他们对工作场所安全的认识，除了张贴通知或标
签，并根据需要提供个人防护设备。
Suport on Workplace Safety
There have ben a number of practical measures taken by
the Group to minimize any negative health and safety impacts
from operations. To maintain a safe work environment for
our employes, we provide workplace safety guidelines and
conduct regular workplace safety inspections to determine the
risks involved with each procedure. To counteract the risks
identified in the risk evaluation, preventative and protective
measures have ben implemented. Safety and caution signs
have ben placed in the workplaces and showroms to alert
our employes, consumers and the public. Our administrative
department encourages employes and the public to report
any potential hazards and risks in the workplaces so that we
can continuously improve our workplaces. Our employes are
also provided with safety trainings to increase their awarenes
of workplace safety apart from posting notices or labels and
suplying personal protective equipment as neded.
We provided safety trainings to our staf regarding guidelines from The Ocupational Safety & Health Council
我们为我们的员工提供与职业安全健康局的指引相关的安全培训
592024/2025年报 域高国际控股有限公司
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环境、社会及管治报告
事故处理计划
虽然已经实施了保护措施，但由于我们服务的性
质，我们的员工受到与工作有关的事故和伤害的
影响。为了确保我们的员工在工作场所的安全，
除了提供防护设备之外，我们还采用了从早期风
险识别到实际事故的综合管理方法。本集团认识
到，化学品的使用对环境和员工的健康构成风
险。我们透过定期进行化学品泄漏演习来减少风
险和危害，从而提高员工应对化学品泄漏事件的
应急能力。我们还实施了消防演习和应急政策，
以减少安全风险。在发生与工作有关的事故时，
我们对伤害原因进行详细分析，并采取措施改善
或解决问题。本集团持续监督改善措施，以最大
限度地减少发生事故的可能性。
在过去的三年里，本集团并不知悉任何因工亡故
事件。报告期间，本集团并不知悉任何工伤事
件。
为顾客及供应商创造价值
我们业务的各个方面都在不断改进，以便为客户
创造价值。本集团致力于与供应商保持密切互利
的关系。
供应链管理
本集团采用一套严格的品质控制政策，以优化管
理效率、减少排放，低碳控制，并在采购、生产
和交付周期中降低成本。我们致力于通过购买优
质的产品和材料来完善供应链管理。
Acident Handling Scheme
Although protective measures have ben implemented, our
employes are subject to work-related acidents and injuries
given the nature of our services. To secure workplace safety
to our employes, apart from providing protective equipment,
we have a comprehensive management aproach from early
risk identification to actual acident. The Group recognizes
that the use of chemicals poses risks to the environment and
to the health of its employes. We strive to minimize the risks
and hazards through regular chemical spilage dril which
enhances the emergency response of our employes in the
event of chemical leakage. Fire dril and emergency policies
were also implemented to reduce safety risks. In case of work-
related acidents, we conduct a detailed analysis for the
cause of injuries and implement measures to improve or rectify
the isues. The Group continuously monitors the improvement
measures to minimize the posibility of acidents.
In the past thre years, the Group was not aware of any work-
related fatalities. During the Reporting Period, the Group was
not aware of any work-related injuries.
VALUE CREATED FOR CLIENTS AND SUPLIERS
Al aspects of our operations are constantly being improved
in order to create value for our customers. The Group is
dedicated to maintaining close and mutualy beneficial
relationships with its supliers.
Suply Chain Management
The Group adopts a set of rigorous quality control policies
to optimize management eficiency, emision reduction, low-
carbon control and curb costs during our sourcing, production
and delivery cycles. We dedicate our eforts to perfect the
suply chain management by purchasing quality products and
materials.
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环境、社会及管治报告
我们只从知名、认可的供应商进行采购，对其质
素每年进行分析，验证供应的品质，以确保我们
石油化工产品的品质一致。为了确保满足消费者
对高品质环保产品的需求，我们要求供应商提供
技术标准报告，并在采购生产材料或产品时进行
背景调查。在根据供应商管理措施评估我们的供
应商时，本集团将确保：
- ；
2. 危险石化产品供应商具有相应的资格证
书；
3. 供应商没有参与任何违法行为或严重的法
律纠纷；
4. 供应商在完善的品质保证体系中享有良好
的声誉；以及
5. 供应商证明了履行合同的财务和营运能
力。我们的供应商的分布如下：
供应链的可持续发展
除了高度重视供应链的稳定性外，本集团还关注
社会责任。对于在社会责任方面表现不佳且对社
会产生不利影响的供应商，他们的报价将不予考
虑。
We only make purchases from reputed, aproved supliers
whose performance is analyzed anualy to verify the quality
of suplies in order to asure consistency in the quality of our
petrochemical gods. To ensure we met consumer demands
for high-quality and environmentaly friendly products, we
request our supliers to provide reports on technical standards
and conduct background checks when sourcing production
materials or products. While evaluating our supliers in
acordance with the suplier management measures, the
Group wil ensure that:
1. The supliers provide legal and valid busines
registration documents;
2. Hazardous petrochemical products supliers have
coresponding qualification certificates;
3. The supliers have not involved in any violations or
serious legal disputes;
4. The supliers have a sound reputation in a perfect
quality asurance system; and
5. The supliers demonstrate financial and operational
capacity to perform the contract. The distribution of our
supliers shows as below:
Geographical RegionHong Kong Singapore South Korea Malaysia
Mainland
China
地区香港新加坡南韩马来西亚中国内地
Number of supliers供应商数目164125
Sustainable Development of the Suply Chain
In adition to highly valuing the stability of the suply chain, the
Group concerns social responsibility. In the case of supliers
who do not perform wel in terms of social responsibility and
who have adversely afected society, their ofers shal not be
considered.
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环境、社会及管治报告
作为社区的一部分，促进绿色发展是本集团使命
的一部分。我们与供应商在可持续发展问题上密
切合作。
本集团已经建立了绿色采购措施，在可能时购买
绿色办公产品、设备和产品材料。本集团优先采
用已有下列措施的供应商：
- ；
- ；
- ，有效控制产品制造中的回收；
- ；及
- 。
营运
我们的目标是为客户提供高品质的产品和服务。
为了实现这一目标，我们需要与客户、员工和供
应商保持清晰的沟通，以获得他们强大的支持。
此外，除我们主要品牌的商标外，本集团的业务
不涉及任何重大知识产权。尽管如此，我们仍然
定期监察可能发生的任何侵权情况，以确保我们
的业务运营顺利进行。
产品质量保证及退货政策
我们在购买后十日内向客户提供石油化学品售后
换货服务。我们仅对内部混合产品承担产品缺陷
的责任。
As a part of the comunity, promoting gren development is a
part of the Group’s mision. We works closely together with our
supliers on sustainable development isues.
The Group has established gren procurement measures on
purchasing gren ofice products, equipment and product
materials whenever posible. The Group has a preference on
engaging supliers who have the folowing measures in place:
1. Systemicaly optimizing energy eficiency in the
production proces;
2. Properly handling the wastes produced during the
production or delivery;
3. Establishing measure to efectively control recourse in
product manufacturing;
4. Do not employ child or forced labour; and
5. Actively reducing unecesary packages and labels.
OPERATIONS
Our goal is to provide high-quality products and services to
our customers. To achieve this goal, we ned to maintain clear
comunication with customers, employes, and supliers to
gain their strong suport.
Aditionaly, apart from the trademarks of our main brands, the
Group’s busines does not involve any significant intelectual
property. Nevertheles, we regularly monitor for any potential
infringements to ensure the smoth operation of our busines.
Product Waranty and Return Policy
We ofer product swap on the sales of petrochemicals to our
customers within ten days folowing the purchase. We bear
the liability of product defects only on our in-house blended
products.
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环境、社会及管治报告
若客户或供应链下游的经销商对我们售出的商品
品质问题或数量短缺提出投诉，我们将与其进行
调查。因此，若发现我们的交付不足，我们将进
一步补足给客户。我们在出现品质问题时接受对
相同类型的产品进行换货或替换。就第三方品牌
产品而言，上游供应商或经销商（如适用）一般对
由其经销或生产的任何缺陷品承担责任及提供缺
陷品换货。鉴于我们向下游经销商销售第三方品
牌的产品涵盖在产品制造商的品质保证范围内，
我们不向作为下游经销商的客户提供任何过时库
存的退款或退货服务。此外，使用车队咭购买的
产品将受石油公司的售后政策的约束，并且不受
我们的退货政策所涵盖。
质量控制政策
我们在整个采购、生产和交付周期中保持一套严
格的品质控制政策，并提供优质的售后服务。为
了确保我们分销的石油化学品的品质一致，我们
只从认可的供应商处获取成品和原料，对其质素
每年进行审查，以确保供应的整体品质。
If our clients or distributors farther down the suply chain
complain about quality isues or quantity shortages with
the gods we sold, we wil lok into the situation with them.
We shal therefore make further deliveries to our customers
if it turns out that our delivery was insuficient. We acept
exchanges or replacements for the identical kind of product
in the event of quality problems. In terms of the third-party
branded products, our upstream supliers or distributors, as
aplicable, are generaly liable for any defective products
distributed or manufactured by them and ofer replacement of
defective products. Given that our sales of third-party branded
products to downstream distributors are covered by the quality
waranty of the product manufacturers, we provide no refund
or return of any obsolete inventories to our customers who
are downstream distributors. In adition, products purchased
with flet cards wil be subject to the after-sale policies of oil
companies, and are not covered by our return policy.
Our subsidiary in the sales of lubricant oil segment obtained ISO9001:2015 Quality Management System
Certification certified by The Hong Kong Quality Asurance Agency
我们在润滑油销售分部的附属公司获得了香港品质保证局颁发的ISO9001:2015品质管理体系认证
Quality Control Policies
We maintain a set of rigorous quality control policies
throughout our sourcing, production and delivery cycle, and
we provide quality after-sale services. To ensure consistent
quality of the petrochemicals we distributed, we only source
finished products and raw materials from our aproved
supliers, whose performances are reviewed anualy so as to
ensure overal quality of suplies.
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在我们内部的润滑剂混合和重新包装中，我们严
格遵循适用于各类润滑油的配方和生产指南。此
外，在混合和重新包装过程中，我们的执行董
事兼董事会主席（「主席」）许沛盛先生在处理石油
化学品方面拥有超过53年的经验，根据各种因
素，如粘度、颜色、沉积、气味和透明度，定期
检查成品样本。如果样品未能通过品质保证测
试，则在过程中使用的元件将被调整，产品将重
新混合，直到符合要求。如果未通过产品不能再
混合，整个生产批次将弃用并进行处置。于报告
期间，本公司收到26次车队咭业务相关投诉，
包括交易数据错误及车队咭授权等问题。所有案
件均迅速解决，并通报供应商以便进一步调查及
行动。本集团确保以积极回应的方式处理客户反
馈，并在必要时实施纠正措施以改善服务。
有关保障消费者的法律及法规
就石油化工产品销售业务而言，我们向客户提供
购买后十日内换货服务。我们仅对内部混合产品
承担产品缺陷的责任。就第三方品牌产品而言，
上游供应商或经销商（如适用）一般对由其经销或
生产的任何缺陷品承担责任及提供缺陷品换货。
我们维护客户服务热线，包括接收与我们的销售
代理商的服务和销售行为有关的客户投诉。在报
告期间，我们没有任何因安全或健康理由而须回
收的产品。
保护客户资料
在我们的日常运营中，我们通过电子方式接收、
处理、存储和传输敏感资讯，包括个人识别资
讯、银行账户资讯、财务资讯和支出资料。
In our in-house blending and repackaging of our lubricants,
we strictly folow the formula and production guidelines
aplicable to the respective types of lubricant oil. In adition,
during the proces of blending and repackaging, Mr. Hui Pui
Sing, our executive Director and the Chairman of the Board
(the “Chairman”), who has more than 53 years of experience
in handling petrochemicals, regularly inspects the sample
of finished products on the basis of various factors such as
viscosity, coloring, sediments, smel and opacity. In the event
that the sample fails the quality asurance test, components
used in the proces wil be adjusted and the product wil be
re-blended until it conforms to the requirements. If the failed
product canot be re-blended, the entire production batch
wil be rejected and disposed. During the Reporting Period,
the Company received 26 complaints related to the flet card
busines, including isues such as incorect transaction data
and card authorization problems. Al cases were promptly
resolved and reported to the suplier for further investigation
and action. The Group ensures a responsive aproach to
customer fedback, implementing corective measures where
necesary to improve services.
Laws and Regulations in relation to Consumer Protection
For the petrochemical products sales busines, we provide
customers with exchange services within 10 days of purchase.
We bear the liability of product defects only on our in-
house blended products. In terms of the third-party branded
products, our upstream supliers or distributors, as aplicable,
are generaly liable for any defective products distributed or
manufactured by them and ofer replacement of defective
products.
We maintain customer service hotlines to, among other things,
take complaints from customers relating to the services and
sales behavior of our sales agents. During the Reporting
Period, we did not have any products recal due to safety or
health reasons.
Customer Information Security
Throughout our daily operation, we electronicaly receive,
proces, store and transmit sensitive information, including
personal identifiable information, bank acount information,
financial information and expense data.
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环境、社会及管治报告
为了保护我们客户的隐私，我们采用了一项政
策，涵盖从客户收集的所有个人和其他私人资讯
的收集、传输、处理、加密和备份，本集团的任
何资产，包括但不限于为官方目的材料和资
讯，不得未经授权为个人目的收集或复制，违法
行为者将受到纪律处分或起诉。
1. 以电子形式收集的消费者文件通过本集团
资讯管理系统的加密定期备份得到保护。
此类资讯将在消费者要求终止其账户后两
年内被销毁；
2. 所有消费者文件的副本保存在上锁的档案
柜中，其钥匙由本集团客户服务经理保
管。此类文件还将保留两年，直到销毁；
- ，我们实施了适
当的存取控制措施，以确保消费者个人资
料和其他私人资讯只能在必要时获得高级
管理人员和授权人员的访问；
- （由内部技术人员和外部供应商支
援），负责监督我们持有的个人资料和其
他私人资讯的保护，以及我们内部资料存
储、处理和保护系统的维护；以及
- ，我们制定了我们
的隐私政策，以通知申请人他们的个人资
料将如何使用。
在报告期间，我们未有发现与所提供的产品和服
务以及补救方法有关的健康和安全、广告、标签
和隐私问题相关法律和法规的违规情况。这些规
定包括《商品说明条例》（香港法例第362章）和《个
人资料（私隐）条例》（香港法例第486章）。
To protect the privacy of our customers, we adopted a policy
covering the colection, transfer, procesing, encryption, and
backup of al personal and other private information colected
from them, and any asets of the Group, including but not
limited to materials and information for oficial purpose,
shal not be taken or copied for personal purpose without
authorization, ofender wil be subject to disciplinary action or
prosecution.
1. Consumer documentation gathered in electronic form
is protected by encrypted regular back-ups within
the Group’s information management system. Such
information wil be destroyed two years after the
consumer requests to terminate their acount;
2. Hard copies of al documents from consumers are
kept in a locked document cabinet, the key to which
is kept by the Group’s customer service manager.
Such documents wil also be kept for two years before
destruction;
3. Within our internal computer systems, we implement
apropriate aces control measures that ensure
personal data and other private information of
consumers can only be acesed when necesary, by
senior management and authorized staf;
4. The Chief Executive Oficer (as suported by in-house
technicians and external vendors), is responsible for
overseing the safekeping of personal data and other
private information in our posesion as wel as the
maintenance of our internal systems for data storage,
procesing and protection; and
5. During the aplication proces for flet cards, we set
forth our privacy policy to inform aplicants of how their
personal data wil be used.
During the Reporting Period, we were not aware of any non-
compliance with laws and regulations relating to health and
safety, advertising, labeling and privacy maters relating to
products and services provided and methods of redres.
Such regulations included the Trade Descriptions Ordinance
(Chapter 362 of the Laws of Hong Kong) and the Personal
Data (Privacy) Ordinance (Chapter 486 of the Laws of Hong
Kong).
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环境、社会及管治报告
社区投入
本集团提倡「社区中的企业」理念，旨在为社区带
来积极的价值。在追求业务发展的同时，我们努
力为社会的繁荣做出贡献。本集团具有强烈的社
会责任感，积极促进企业与社会服务伙伴之间的
合作，从而推动企业社会责任倡议。
尽管我们去年未直接参与社区活动，但在新的一
年，我们会将重点转向这一重要方面，作为本集
团社区贡献的一部分。未来，本集团将继续参与
社区发展，并将利用本集团的专长和资源支援本
集团经营所处及与当地慈善机构有合作的社区。
近年来，支援碳减排和可持续发展一直是全球企
业优先事项。为响应政府「香港气候行动计划二零
五零」，并努力在早期实现碳中和，除了每天减少
排放的措施外，我们还参与并鼓励员工参加「二
零二五年地球一小时」活动（由世界自然基金会组
织），通过减少能源消耗和排放来保护社区环境。
反贪污
关于贿赂、勒索、反贪污、欺诈和洗钱，本集团
采取零容忍态度，严格遵守《防止贿赂条例》（香
港法例第201章）和有关商业道德的法律法规。
如员工手册、行为准则和反贪污政策所规定，董
事和员工严格禁止在执行本集团业务时寻求、接
受或提供任何福利。员工手册、行为准则和相关
政策定期审查，以符合最新的法律和法规。
我们对营运实践中的任何欺诈业务活动采取零容
忍态度。报告期间内，本集团未涉及任何违反相
关法律法规的案件，包括但不限于《防止贿赂条
例》（香港法例第201章）。
COMUNITY INVESTMENT
The Group promotes the “Busines-in-Comunity” philosophy
with the aim of bringing positive value to the comunity.
Eforts are made to pursue busines development while
contributing to societal prosperity. With a strong sense of
social responsibility, the Group actively fosters colaborations
betwen busineses and social service partners, driving
corporate social responsibility initiatives.
Despite no direct engagement in comunity activities over
the past year, focus wil be shifted towards this critical aspect
in the coming year as part of the Group’s comitment to the
comunity. The Group wil continue to take part in comunity
development in the future and wil make use of expertise and
resources of the Group to suport the comunities in which
the Group operates and colaborates with local charities.
Suporting carbon reduction and sustainable development
has ben a priority of global enterprises in recent years. In
response to the government’s “Hong Kong Climate Action
Plan 2050” and striving to achieve carbon neutrality at an
early date, in adition to daily emision reduction measures,
we participated in and encouraged employes to join “Earth
Hour 2025” (organized by World Wildlife Fund), to protect the
comunity environment by reducing energy consumption and
emisions.
ANTI-CORUPTION
With regard to bribery, extortion, anti-coruption, fraud, and
money laundering, the Group takes a zero-tolerance aproach
and strictly adheres to the Prevention of Bribery Ordinance
(Chapter 201 of the Laws of Hong Kong) and the laws and
regulations concerning busines ethics.
Directors and employes are strictly prohibited from soliciting,
acepting, or ofering any benefits in conducting the Group’s
busines, as stipulated in the Employes’ Handbok, Code
of Conduct and Anti-coruption Policy. The Employes’
Handbok, Code of Conduct and relevant policies are subject
to regular review as to comply with the most updated laws and
regulations.
We have a zero tolerance aproach to any fraudulent busines
activities in our operational practices. During the Reporting
Period, the Group was not involved in any case of non-
compliance with relevant laws and regulations, including but
not limited to the Prevention of Bribery Ordinance (Chapter 201
of the Laws of Hong Kong).
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环境、社会及管治报告
反贪污培训
为了提高所有董事和员工的反贪污意识，本集团
在各个层面和各个领域提供反贪污和诚信相关培
训，亦会不定期举办反贪污讲座，借此把最新的
反贪污资讯带给每位员工。
ANTI-CORUPTION TRAINING
In order to enhance the anti-coruption awarenes of al
directors and employes, the Group provided anti-coruption
and integrity related trainings at diferent levels and in a wide
range of fields. Anti-coruption courses wil also be delivered
on an iregular basis to ensure al employes have aces to
curent knowledge.
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环境、社会及管治报告
监管及举报政策
任何员工都可以向相关部门负责人口头或书面提
出关于贿赂、腐败、欺诈或其他问题的合理担
忧。在收集足够的信息后，部门主管将向行政总
裁或主席提交报告。如果问题涉及部门负责人，
或者员工因任何原因不希望部门负责人知道，员
工可以向行政总裁或主席提出问题并提交报告。
如果员工因任何原因不希望行政总裁知道，员工
可以直接向主席提出问题并提交报告。如果问题
涉及主席，员工可以直接向审核委员会提出问题
并提交报告。在任何情况下，所有报告和查询将
严格保密，以确保匿名。
本集团接收的每一个案件都将进行评估，以确定
是否需要进行全面调查。如果需要进行全面调
查，本集团将任命一个适当的高级监察员并成立
特别委员会来调查此事。审查完成后，将向审核
委员会提交包含变更或改进建议（如适用）的最终
报告。审核委员会随后将审查最终报告，并在适
当情况下向董事会提出建议。
根据我们的举报政策，为持份者和相关方开发了
多通讯渠道，以便他们在受到本集团不公平对待
时提出意见和投诉。审核委员会定期审查投诉报
告，必要时向董事会提交总结报告。
向主席或审核委员会报告的渠道：
邮寄地址︰ 香港九龙长沙湾长裕街10号亿京广场
2期11楼D室
电邮地址：whistle@vicointernational.hk
Supervision and Whistleblowing Policy
Any employe can raise a reasonable concern about bribery,
coruption, fraud, or other isues with the apropriate Heads
of Departments, either verbaly or in writing. After compiling
enough information, the Heads of Departments wil present
the report to the Chief Executive Oficer or the Chairman. If the
concern involves the Heads of Departments, or for any reason
the employe would prefer the Heads of Departments not to be
told, the employe may raise the concern and submit his/her
report to the Chief Executive Oficer or the Chairman. If for any
reason the employe would prefer the Chief Executive Oficer
not to be told, the employe may raise the concern and submit
his/her report directly to the Chairman. If the concern involves
the Chairman, the employe may raise the concern and submit
his/her report directly to the Audit Comite. Al reports and
enquiries wil be handled with strict confidentiality under al
circumstances to preserve anonymity.
Every case received by the Group wil be evaluated to
determine whether a ful investigation is necesary. If a ful
investigation is required, an apropriate senior supervisor
wil be apointed and a special comite wil be set up by
the Group to investigate the mater. Upon completion of the
review, a final report containing recomendations for changes
or improvements (if aplicable) wil be submited to the Audit
Comite. The Audit Comite wil then review the final
report and, if apropriate, make recomendations to the
Board.
Acording to our Whistleblowing Policy, a multi-comunication
chanel has ben developed for stakeholders and involved
parties to adres their opinions and raise grievances in case
they are unfairly treated by the Group. The Audit Comite
reviews the report of complaints regularly and provides
sumary reports to the Board, when necesary.
Reporting chanels to the Chairman or the Audit Comite:
Post: Unit D, 11/F, Bilion Plaza 2, 10 Cheung Yue Stret,
Cheung Sha Wan, Kowlon, Hong Kong
Email: whistle@vicointernational.hk
CORPORATE GOVERNANCE REPORT
企业管治报告
68Vico International Holdings Limited Anual Report 2024/2025
董事会（「董事会」）欣然呈列截至二零二五年三月
三十一日止年度（「报告期间」）的企业管治报告。
企业管治常规
董事会致力实现良好的企业管治标准。
董事会相信，良好的企业管治标准至关重要，其
有助于为本公司提供框架，以保障股东利益、提
升企业价值、制定业务策略及政策，以及加强透
明度和问责性。
本公司已采用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C1所载之企
业管治守则（「企业管治守则」）之原则及守则条文
作为本公司企业管治常规之基础。
董事会认为于整个报告期间，本公司已遵守企业
管治守则所载之所有适用守则条文。
A. 证券交易标准守则
本公司已采纳上市规则附录C3所载之上市
发行人董事进行证券交易的标准守则（「标
准守则」）（「证券交易守则」）。
本公司已对全体董事及所有相关雇员作出
特定查询，而彼等亦已确认，彼等于整个
报告期间一直遵守证券交易守则所载之规
定标准。
本公司亦已就可能拥有本公司未经公布之
内幕消息之雇员进行证券交易制定不逊
于标准守则所载条款之明文指引（「交易指
引」）。据本公司所悉，相关雇员并无违反
交易指引之事件。
The Board of Directors (the “Board”) is pleased to present this
Corporate Governance Report for the year ended 31 March
2025 (the “Reporting Period”).
CORPORATE GOVERNANCE PRACTICES
The Board is comited to achieving god corporate
governance standards.
The Board believes that god corporate governance standards
are esential in providing a framework for the Company to
safeguard the interests of shareholders, enhance corporate
value, formulate its busines strategies and policies, and
enhance its transparency and acountability.
The Company has adopted the principles and code provisions
of the Corporate Governance Code (the “CG Code”) contained
in Apendix C1 to the Rules Governing the Listing of
Securities on The Stock Exchange of Hong Kong Limited (the
“Stock Exchange”) (the “Listing Rules”) as the basis of the
Company’s corporate governance practices.
The Board is of the view that throughout the Reporting Period,
the Company has complied with al the aplicable code
provisions as set out in the CG Code.
A. MODEL CODE FOR SECURITIES
TRANSACTIONS
The Company has adopted the Model Code for
Securities Transactions by Directors of Listed Isuers
(the “Model Code”) as set out in Apendix C3 to the
Listing Rules (the “Securities Dealing Code”).
Specific enquiry has ben made of al the Directors and
al the relevant employes and they have confirmed that
they have complied with the required standard set out
in the Securities Dealing Code throughout the Reporting
Period.
The Company has also established writen guidelines
no les exacting than the Model Code (the “Dealing
Guidelines”) for securities transactions by employes
who are likely to be in posesion of unpublished
inside information of the Company. No incident of non-
compliance of the Dealing Guidelines by the relevant
employes was noted by the Company.
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CORPORATE GOVERNANCE REPORT
企业管治报告
B. BOARD OF DIRECTORS
The Board overses the Company’s busineses,
strategic decisions and performance and should
take decisions objectively in the best interests of the
Company.
The Board should regularly review the contribution
required from the Director to perform his/her
responsibilities to the Company, and whether the
Director is spending suficient time performing them.
(1) Board Composition
As at 31 March 2025, the Board comprised
eight Directors, consisting of four executive
Directors, one non-executive Director and thre
independent non-executive Directors, as folows:
Executive Directors
Mr. Hui Pui Sing (Chairman of the Board and
chairman of the Nomination Comite)
Ms. Tong Man Wah
Mr. Hui Yip Ho Eric (Chief Executive Oficer and
member of the Remuneration Comite)
Mr. Kong Man Ho
Non-executive Director
Mr. Wong Chun Man
Independent Non-executive Directors
Mr. Chan Ching Sum (member of each of the
Audit Comite and the
Nomination Comite)
Mr. Leung Ho Chi (Chairman of each of the Audit
Comite and the Remuneration Comite
and member of the Nomination Comite)
Ms. Ng Wing Sze Vince (member of each of the
Audit Comite, the Remuneration Comite
and the Nomination Comite)
B. 董事会
董事会监管本公司之业务、策略决策及表
现，且应以本公司之最佳利益作出客观决
定。
董事会须定期检讨董事履行其对本公司之
职责须作出之贡献以及其是否投入足够时
间履行其职责。
(1) 董事会组成
于二零二五年三月三十一日，董事
会由八名董事组成，包括四名执行
董事、一名非执行董事及三名独立
非执行董事，详情如下：
执行董事
许沛盛先生（董事会主席及
提名委员会主席）
汤敏华女士
许业豪先生（行政总裁及
薪酬委员会成员）
江文豪先生
非执行董事
王俊文先生
独立非执行董事
陈政深先生（审核委员会及
提名委员会各自的成员）
梁浩志先生（审核委员会及
薪酬委员会各自的主席及
提名委员会成员）
吴颖思女士（审核委员会、
薪酬委员会及提名委员会
各自的成员）
70Vico International Holdings Limited Anual Report 2024/2025
CORPORATE GOVERNANCE REPORT
企业管治报告
许沛盛先生为汤敏华女士之配偶及
许业豪先生之父亲。除上文披露者
外，董事会成员之间并无家庭或其
他重大╱关连关系。
吴颖思女士于二零二五年三月二十
八日获委任为提名委员会成员。
董事于本年报日期之履历详情载于
本年报「董事及高级管理层履历详
情」一节。
(2) 主席及行政总裁
企业管治守则之守则条文第C.2.1条
规定，主席及行政总裁的职责应予
区分，且不应由同一人士担任。主
席及行政总裁的责任必须清楚划分
并以书面方式列明。
目前，董事会主席（「主席」）及本公
司行政总裁（「行政总裁」）职务分别
由许沛盛先生及许业豪先生担任。
主席带领董事会，并负责本集团之
企业策略规划、整体业务发展、管
理、决策及业务发展策略。行政总
裁监察本公司之车队咭业务营运及
本集团整体企业管理及业务发展策
略。
Mr. Hui Pui Sing is the spouse of Ms. Tong Man
Wah, and the father of Mr. Hui Yip Ho Eric.
Save as disclosed above, there are no family or
other material/relevant relationships among the
members of the Board.
Ms. Ng Wing Sze Vince, who has ben apointed
as the member of Nomination Comite on 28
March 2025.
The biographical information of the Directors
as at the date of this Anual Report are set out
in the section headed “Biographical Details of
Directors and Senior Management” in this Anual
Report.
(2) Chairman and Chief Executive Oficer
Code provision C.2.1 of the CG Code stipulates
that the roles of chairman and chief executive
should be separate and should not be performed
by the same individual. The division of
responsibilities betwen the chairman and chief
executive should be clearly established and set
out in writing.
Curently, the positions of Chairman of the Board
(the “Chairman”) and Chief Executive Oficer of
the Company (the “Chief Executive Oficer”)
are held by Mr. Hui Pui Sing and Mr. Hui Yip
Ho Eric respectively. The Chairman provides
leadership for the Board and is responsible for
corporate strategic planing, overal busines
development, management, decision making
and busines development strategies of the
Group. The Chief Executive Oficer overses the
operation of Company’s flet cards busines and
the Group’s overal corporate management and
busines development strategies.
712024/2025年报 域高国际控股有限公司
CORPORATE GOVERNANCE REPORT
企业管治报告
(3) 独立非执行董事
于报告期间，董事会一直遵守上市
规则有关规定，委任至少三名独立
非执行董事，占董事会成员人数三
分之一，其中一名独立非执行董事
具备适当专业资格或会计或相关财
务管理专长。
本公司已根据上市规则第3.13条所
载之独立性指引，自各独立非执行
董事接获有关彼之独立性之年度书
面确认。本公司认为全体独立非执
行董事均为独立。
(4) 董事会独立性评估
本公司已于年内建立董事会独立性
评估机制，当中载列过程及程序，
以确保董事会具备强大的独立性，
使董事会能有效地作出独立判断，
以更好地保障股东权益。
评估的目的是提高董事会的效率，
发挥最大的优势，并确定需要改进
或进一步发展的领域。评估程序亦
厘清本公司须采取何种行动以维持
及改善董事会表现，例如解决各董
事的个人培训及发展需要。
(3) Independent Non-executive Directors
During the Reporting Period, the Board at
al times met the requirements of the Listing
Rules relating to the apointment of at least
thre independent non-executive Directors
representing one-third of the Board with one
of whom posesing apropriate profesional
qualifications or acounting or related financial
management expertise.
The Company has received writen anual
confirmation from each of the independent
non-executive Directors in respect of his
independence in acordance with the
independence guidelines set out in Rule 3.13 of
the Listing Rules. The Company is of the view
that al independent non-executive Directors are
independent.
(4) Board Independence Evaluation
The Company has established a Board
Independence Evaluation Mechanism during
the year which sets out the proceses and
procedures to ensure a strong independent
element on the Board, which alows the Board
efectively exercises independent judgment to
beter safeguard Shareholders’ interests.
The objectives of the evaluation are to improve
Board efectivenes, maximize strengths, and
identify the areas that ned improvement or
further development. The evaluation proces
also clarifies what actions of the Company ned
to be taken to maintain and improve the Board
performance, for instance, adresing individual
training and development neds of each
Director.
72Vico International Holdings Limited Anual Report 2024/2025
CORPORATE GOVERNANCE REPORT
企业管治报告
根据董事会独立性评估机制，董事
会将对其独立性进行年度检讨。董
事会独立性评估报告将提呈予董事
会，董事会将共同讨论结果及改善
行动计划（如适用）。
截至二零二五年三月三十一日止年
度，全体董事已个别以问卷形式完
成独立评估。董事会独立性评估报
告已提交董事会，评估结果令人满
意。
截至二零二五年三月三十一日止年
度，董事会已检讨董事会独立性评
估机制的实施及成效，结果令人满
意。
(5) 董事之委任及重选
非执行董事（包括独立非执行董事）
之任期为一年，待其时现行任期届
满后可予重续。
全体董事须于股东周年大会上轮席
退任及重选连任。根据本公司组织
章程细则（「细则」），于每届股东周
年大会，当时三分之一（或倘该数
目并非三或三之倍数，则为最接近
但不少于三分之一的数目）董事须
轮席退任，惟每名董事须最少每三
年进行一次轮席退任。细则亦规定
所有获委任填补临时空缺之董事应
在获委任后之首次股东大会上由股
东选任。退任董事符合资格膺选连
任。
Pursuant to the Board Independence Evaluation
Mechanism, the Board wil conduct anual review
on its independence. The Board Independence
Evaluation Report wil be presented to the Board
which wil colectively discus the results and the
action plan for improvement, if apropriate.
During the year ended 31 March 2025, al
Directors have completed the independence
evaluation in the form of a questionaire
individualy. The Board Independence Evaluation
Report was presented to the Board and the
evaluation results were satisfactory.
During the year ended 31 March 2025, the Board
reviewed the implementation and efectivenes of
the Board Independence Evaluation Mechanism
and the results were satisfactory.
(5) Apointment and Re-election of Directors
The non-executive Directors (including
independent non-executive Directors) are
apointed for a term of one year, subject to
renewal after the expiry of the then curent term.
Al the Directors are subject to retirement by
rotation and re-election at the anual general
metings. Under the Articles of Asociation of
the Company (the “Articles”), at each anual
general meting, one-third of the Directors for
the time being, or if their number is not thre or
a multiple of thre, the number nearest to but
not les than one-third shal retire from ofice by
rotation provided that every Director shal be
subject to retirement by rotation at least once
every thre years. The Articles also provides that
al Directors apointed to fil a casual vacancy
shal be subject to election by shareholders at
the first general meting after apointment. The
retiring Directors shal be eligible for re-election.
732024/2025年报 域高国际控股有限公司
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企业管治报告
- 、问责及
贡献
董事会负责带领及控制本公司，以
及监察本集团之业务、决策和表
现，及透过指导及监督其事务，共
同负责促进本公司成功。董事为本
公司之利益客观地作出决定。
全体董事（包括非执行董事及独立
非执行董事）均为董事会带来多种
领域之宝贵业务经验、知识及专
长，使其高效及有效地运作。
独立非执行董事负责确保本公司有
高标准的监管报告，并于董事会提
供平衡，以就公司行动及经营带来
有效的独立判断。
全体董事均可全面并及时获得本公
司所有资料以及要求公司秘书及高
级管理层提供服务及意见。董事可
于要求时在适当情况下寻求独立专
业意见，以向本公司履行其职责，
费用由本公司承担。
董事须向本公司披露彼等担任之其
他职务之详情，董事会定期审阅各
董事就履行彼对本公司之责任而须
予作出之贡献。
- , Acountabilities and
Contributions of the Board and Management
The Board is responsible for leadership and
control of the Company and overses the
Group’s busineses, strategic decisions and
performance and is colectively responsible
for promoting the suces of the Company by
directing and supervising its afairs. Directors
take decisions objectively in the interests of the
Company.
Al Directors, including non-executive Directors
and independent non-executive Directors, have
brought a wide spectrum of valuable busines
experience, knowledge and profesionalism
to the Board for its eficient and efective
functioning.
The independent non-executive Directors
are responsible for ensuring a high standard
of regulatory reporting of the Company and
providing a balance in the Board for bringing
efective independent judgement on corporate
actions and operations.
Al Directors have ful and timely aces to al
the information of the Company as wel as the
services and advice from the company secretary
and senior management. The Directors may,
upon request, sek independent profesional
advice in apropriate circumstances, at the
Company’s expenses for discharging their duties
to the Company.
The Directors shal disclose to the Company
details of other ofices held by them and
the Board regularly reviews the contribution
required from each Director to perform his/her
responsibilities to the Company.
74Vico International Holdings Limited Anual Report 2024/2025
CORPORATE GOVERNANCE REPORT
企业管治报告
董事会负责决定所有重要事宜，当
中涉及本公司政策事宜、策略及预
算、内部监控及风险管理、重大交
易（特别是或会涉及利益冲突者）、
财务资料、委任董事及其他重大营
运事宜。有关执行董事会决策、指
导及协调本公司日常营运及管理之
职责转授予管理层。
(7) 董事之持续专业发展
董事应时刻注意监管发展及变动，
以便有效地履行其责任及确保彼等
对董事会之贡献继续为知情及相
关。
每名新任董事均于首次获委任时获
提供正式、全面及切合时宜的入职
介绍，确保新董事可适当掌握本公
司业务及营运，并完全了解于上市
规则及相关法规下之董事职责及责
任。
董事须参与适当连续的专业发展以
发展及更新彼等的知识及技能。本
公司将于适当时候为董事安排内部
简介。本公司鼓励所有董事参加相
关培训课程，费用由本公司承担。
The Board reserves for its decision al major
maters relating to policy maters, strategies
and budgets, internal control and risk
management, material transactions (in particular
those that may involve conflict of interests),
financial information, apointment of directors
and other significant operational maters of
the Company. Responsibilities relating to
implementing decisions of the Board, directing
and co-ordinating the daily operation and
management of the Company are delegated to
the management.
(7) Continuous Profesional Development of
Directors
Directors shal kep abreast of regulatory
developments and changes in order to efectively
perform their responsibilities and to ensure that
their contribution to the Board remains informed
and relevant.
Every newly apointed Director has received
formal, comprehensive and tailored induction
on the first ocasion of his/her apointment
to ensure apropriate understanding of the
busines and operations of the Company and
ful awarenes of Director’s responsibilities and
obligations under the Listing Rules and relevant
statutory requirements.
Directors should participate in apropriate
continuous profesional development to develop
and refresh their knowledge and skils. Internaly-
facilitated briefings for Directors wil be aranged
where apropriate. Al Directors are encouraged
to atend relevant training courses at the
Company’s expenses.
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CORPORATE GOVERNANCE REPORT
企业管治报告
董事于截至二零二五年三月三十一
日止年度接受的培训及持续专业发
展记录概述如下：
附注：
培训类别
A： 出席培训讲座，包括但不限于简报
会、研讨会、会议及工作坊
B： 阅读相关新闻报导、报章、期刊、
杂志及相关刊物
C. 董事委员会
董事会已成立三个委员会，即审核委员
会、薪酬委员会及提名委员会，以监管本
公司事务之特定方面。本公司所有董事
委员会在成立之时均设有具体书面职权范
围，清楚列明彼等之权限及职责。审核委
员会、薪酬委员会及提名委员会之职权范
围刊登于本公司网站及联交所网站，并可
于要求时供股东查阅。
The records of training and continuous
profesional development that have ben
received from the Directors for the year ended
31 March 2025 are sumarized as folows:
Type of
Training
Note
Directors董事培训类别
附注
Executive Directors执行董事
Mr. Hui Pui Sing许沛盛先生A & B A及B
Ms. Tong Man Wah汤敏华女士A & B A及B
Mr. Hui Yip Ho Eric许业豪先生A & B A及B
Mr. Kong Man Ho江文豪先生A & B A及B
Non-Executive Director非执行董事
Mr. Wong Chun Man王俊文先生B
Independent Non-Executive Directors独立非执行董事
Mr. Chan Ching Sum陈政深先生A & B A及B
Mr. Leung Ho Chi梁浩志先生B
Ms. Ng Wing Sze Vince吴颖思女士A & B A及B
Notes:
Types of training
A: Atending training sesions, including but not limited
to, briefings, seminars, conferences and workshops
B: Reading relevant news alerts, newspapers, journals,
magazines and relevant publications
C. BOARD COMITES
The Board has established thre comites, namely,
the Audit Comite, Remuneration Comite and
Nomination Comite, for overseing particular
aspects of the Company’s afairs. Al Board comites
of the Company are established with specific writen
terms of reference which deal clearly with their authority
and duties. The terms of reference of the Audit
Comite, Remuneration Comite and Nomination
Comite are posted on the Company’s website and
the Stock Exchange’s website and are available to
shareholders upon request.
76Vico International Holdings Limited Anual Report 2024/2025
CORPORATE GOVERNANCE REPORT
企业管治报告
审核委员会全体成员及薪酬委员会和提名
委员会大部分成员均为独立非执行董事。
(1) 审核委员会
审核委员会由三名独立非执行董事
（即梁浩志先生、陈政深先生及吴
颖思女士）组成。梁浩志先生为审
核委员会主席。
审核委员会之职权范围不逊于企业
管治守则所载者并于二零一八年十
二月十三日修订。审核委员会之主
要职责为协助董事会审阅财务资
料及申报程序、风险管理及内部监
控制度、内部审计职能的有效性、
审计范围及外部核数师之委聘及可
使本公司雇员能够就本公司财务申
报、内部监控或其他方面之可能不
当行为提出关注的安排。
于报告期间，审核委员会已举行三
次会议，以审阅截至二零二五年三
月三十一日止财政年度之年度财务
业绩及报告、截至二零二四年九月
三十日止六个月之中期财务业绩及
报告，以及有关财务申报、营运及
合规控制、风险管理及内部监控制
度及内部审计职能的有效性、外部
核数师变更及可使雇员就可能不当
行为提出关注之安排等重大事宜。
Al members of the Audit Comite and the majority of
the members of the Remuneration Comite and the
Nomination Comite are independent non-executive
Directors.
(1) Audit Comite
The Audit Comite consists of thre
independent non-executive Directors, namely
Mr. Leung Ho Chi, Mr. Chan Ching Sum and
Ms. Ng Wing Sze Vince. Mr. Leung Ho Chi is the
chairman of the Audit Comite.
The terms of reference of the Audit Comite
are of no les exacting terms than those set
out in the CG Code and was amended on 13
December 2018. The main duties of the Audit
Comite are to asist the Board in reviewing
the financial information and reporting proces,
risk management and internal control systems,
efectivenes of the internal audit function, scope
of audit and apointment of external auditors,
and arangements to enable employes of the
Company to raise concerns about posible
improprieties in financial reporting, internal
control or other maters of the Company.
During the Reporting Period, the Audit
Comite held thre metings to review the
anual financial results and report for the
financial year ended 31 March 2025, interim
financial results and report for the six months
ended 30 September 2024 and significant
isues on the financial reporting, operational and
compliance controls, the efectivenes of the
risk management and internal control systems
and internal audit function, change of external
auditors, and arangements for employes to
raise concerns about posible improprieties.
772024/2025年报 域高国际控股有限公司
CORPORATE GOVERNANCE REPORT
企业管治报告
(2) 薪酬委员会
薪酬委员会由三名成员组成，即执
行董事许业豪先生及独立非执行董
事吴颖思女士及梁浩志先生。梁浩
志先生为薪酬委员会主席。
薪酬委员会之职权范围不逊于企业
管治守则所载者。薪酬委员会之主
要职能包括厘定全体执行董事及高
级管理层之薪酬待遇、就非执行董
事之薪酬及全体董事及本公司高级
管理层之薪酬政策及架构向董事会
作出推荐建议；及制定正式及透明
的程序以发展一套薪酬政策及架构
以确保概无董事或任何彼等各自之
联系人参与厘定自己的薪酬。
于报告期间，薪酬委员会已通过会
议及书面决议案的形式审阅及批准
新获委任之独立非执行董事之薪酬
待遇、审阅本公司之薪酬政策及架
构，并就截至二零二五年三月三十
一日止财政年度执行董事及高级管
理层之薪资调整向董事会提供推荐
意见。
(2) Remuneration Comite
The Remuneration Comite consists of thre
members, namely Mr. Hui Yip Ho Eric, executive
Director, and Ms. Ng Wing Sze Vince and Mr.
Leung Ho Chi, independent non-executive
Directors. Mr. Leung Ho Chi is the chairman of
the Remuneration Comite.
The terms of reference of the Remuneration
Comite are of no les exacting terms than
those set out in the CG Code. The primary
functions of the Remuneration Comite include
determining the remuneration packages of al
executive Directors and senior management,
making recomendations to the Board on
the remuneration of non-executive Directors
and the remuneration policy and structure
for al Directors and senior management of
the Company; and establishing a formal and
transparent procedures for developing such
remuneration policy and structure to ensure that
no Director or any of his/her asociates wil be
involved in deciding his/her own remuneration.
During the Reporting Period, the Remuneration
Comite reviewed and aproved by means
of a meting and writen resolutions the
remuneration package of the newly apointed
independent non-executive Director, reviewed
the remuneration policy and structure of the
Company, and made recomendations to the
Board on the salary adjustment of the executive
Directors and senior management for the
financial year ending 31 March 2025.
78Vico International Holdings Limited Anual Report 2024/2025
CORPORATE GOVERNANCE REPORT
企业管治报告
根据企业管治守则之守则条文第
E.1.5条，本公司高级管理层（不包
括董事）于截至二零二五年三月三
十一日止年度以范围划分之薪酬载
列如下：
(3) 提名委员会
提名委员会由四名成员组成，即执
行董事许沛盛先生以及独立非执行
董事陈政深先生、梁浩志先生及吴
颖思女士。许沛盛先生为提名委员
会之主席。
提名委员会之职权范围不逊于企业
管治守则所载者。提名委员会之主
要职责包括审阅董事会之架构、成
员人数及组成、发展及制定有关提
名及委任董事的相关程序、评估独
立非执行董事之独立性、识别合资
格成为董事会成员之人士及就董事
之委任或续任及继任计划之相关事
宜向董事会提出推荐建议。
于评估董事会组成时，提名委员会
将考虑多个方面及载于本公司董事
会成员多元化政策有关董事会多元
化的因素。提名委员会将讨论及
协定达成董事会多元化的可计量目
标，并于有需要时，向董事会提议
有关措施，供其采纳。
Pursuant to code provision E.1.5 of the CG Code,
the remuneration of the senior management
(except Directors) of the Company for the year
ended 31 March 2025 by band is set out below:
Number of
individuals
人数
Nil to HKD1,000,000零至1,000,000港元2
(3) Nomination Comite
The Nomination Comite consists of four
members, namely Mr. Hui Pui Sing, executive
Director, and Mr. Chan Ching Sum, Mr. Leung
Ho Chi and Ms. Ng Wing Sze Vince, independent
non-executive Directors. Mr. Hui Pui Sing is the
chairman of the Nomination Comite.
The terms of reference of the Nomination
Comite are of no les exacting terms than
those set out in the CG Code. The primary duties
of the Nomination Comite include reviewing
the structure, size and composition of the Board,
developing and formulating relevant procedures
for the nomination and apointment of Directors,
asesing the independence of the independent
non-executive Directors, identifying individuals
suitably qualified to become members of the
Board and making recomendation to the
Board on maters relating to the apointment
or re-apointment and sucesion planing of
Directors.
In asesing the Board composition, the
Nomination Comite would take into acount
various aspects as wel as factors concerning
Board diversity as set out in the Company’s
Board Diversity Policy. The Nomination
Comite would discus and agre on
measurable objectives for achieving diversity on
the Board, where necesary, and recomend
them to the Board for adoption.
792024/2025年报 域高国际控股有限公司
CORPORATE GOVERNANCE REPORT
企业管治报告
于确定及挑选合适董事人选时，
提名委员会向董事会提出人选建
议前，亦须考虑载于本公司董事
提名程序内的准则，包括但不限于
性格、信用、资历、技术、知识、
经验及其他适用于本公司业务的相
关方面及达至董事会多元化（倘适
用）。
于报告期间，提名委员会已通过会
议及书面决议案的形式批准及建议
委任独立非执行董事、检讨董事会
之架构、规模及组成以及独立非执
行董事之独立性，并考虑于股东周
年大会上候选之退任董事之资格。
提名委员会亦就于报告期间委任董
事向董事会提供推荐意见。
(4) 董事会成员多元化政策
本公司采纳董事会成员多元化政
策，其中列明达致董事会多元化的
方法。本公司知悉并认可董事会多
元化的裨益且将董事会多元化水平
的不断上升视作维持本公司竞争优
势的关键因素。
In identifying and selecting suitable candidates
for directorships, the Nomination Comite
would also consider the criteria as set out in the
Company’s Director Nomination Procedures,
including but not limited to, character, integrity,
qualifications, skils, knowledge, experience and
other perspectives apropriate to the Company’s
busines, and achieve Board diversity, where
apropriate, before making recomendation to
the Board.
During the Reporting Period, the Nomination
Comite aproved and proposed by means
of a meting and writen resolutions apointment
of the independent non-executive Director,
reviewed the structure, size and composition
of the Board and the independence of the
independent non-executive Directors, and
considered the qualifications of the retiring
Directors standing for election at the anual
general meting. The Nomination Comite
also made recomendations to the Board on the
apointment of Directors during the Reporting
Period.
(4) Board Diversity Policy
The Company has adopted a Board Diversity
Policy which sets out the aproach to achieve
diversity of the Board. The Company recognizes
and embraces the benefits of having a diverse
Board and ses increasing diversity at the Board
level as an esential element in maintaining the
Company’s competitive advantage.
80Vico International Holdings Limited Anual Report 2024/2025
CORPORATE GOVERNANCE REPORT
企业管治报告
根据董事会成员多元化政策，提名
委员会将每年审阅董事会的架构、
规模及组成及在适当的时侯就董事
会变动提出推荐建议以完善本公司
的企业策略及确保董事会保持平衡
的成员多元化。就审阅及评估董事
会组成而言，提名委员会致力于所
有层面达致多元化及将考虑多个方
面，包括但不限于性别、年龄、文
化及教育背景、专业资格、技能、
知识及地区和行业经验。
本公司的目标是维持与本公司业务
增长相关且合适、均衡的多元化角
度，亦致力于确保所有层面（从董
事会往下）的招聘及甄选常规具有
适宜的架构，借此可考量各类不同
的人选。
董事会将考虑订立可计量的目标，
以落实董事会成员多元化政策，并
不时审阅有关目标，确保其合适及
确认为达致该等目标所取得的进
度。
Pursuant to the Board Diversity Policy, the
Nomination Comite wil review anualy the
structure, size and composition of the Board
and where apropriate, make recomendations
on changes to the Board to complement the
Company’s corporate strategy and to ensure
that the Board maintains a balanced diverse
profile. In relation to reviewing and asesing the
Board composition, the Nomination Comite
is comited to diversity at al levels and wil
consider a number of aspects, including but not
limited to gender, age, cultural and educational
background, profesional qualifications,
skils, knowledge and regional and industry
experience.
The Company aims to maintain an apropriate
balance of diversity perspectives that are
relevant to the Company’s busines growth and
is also comited to ensuring that recruitment
and selection practices at al levels (from the
Board downwards) are apropriately structured
so that a diverse range of candidates are
considered.
The Board wil consider seting measurable
objectives to implement the Board Diversity
Policy and review such objectives from time
to time to ensure their apropriatenes and
ascertain the progres made towards achieving
those objectives.
812024/2025年报 域高国际控股有限公司
CORPORATE GOVERNANCE REPORT
企业管治报告
提名委员会已从多元化角度审阅董
事会的组成。目前，董事会合共有
八名董事，包括四名执行董事、一
名非执行董事及三名独立非执行
董事。所有四名执行董事均在本集
团担任关键职位，如董事会主席、
行政总裁、总经理、行政经理及营
销主任。彼等在企业管理及行政领
域拥有专业经验，亦拥有关车队
咭行业的丰富知识。非执行董事及
独立非执行董事中有金融领域的通
才、证券及期货事务监察委员会的
持牌代表、香港会计师公会及特许
公认会计师公会资深会员。彼等精
通香港资本市场的规定及国际会计
准则。此外，董事会有两名女性董
事，彼等（连同其他董事）在彼等各
自的专业领域向本公司提供专业意
见。提名委员会认为，董事会在性
别、年龄、文化及教育背景、专业
经验、技能及知识方面已实现多元
化。
The Nomination Comite has reviewed the
composition of the Board from a diversity
perspective. At present, the Board has a total
of eight Directors, including four executive
Directors, one non-executive Director and thre
independent non-executive Directors. Al the
four executive Directors hold key positions in
the Group, such as chairman of the Board,
chief executive oficer, general manager,
administration manager and marketing manager.
They have profesional experience in corporate
management and administration fields, and in-
depth knowledge about flet cards industry.
Among the non-executive Director and
independent non-executive Directors, there are
profesional generalist in financial field, licensed
representative under the Securities and Futures
Comision, felow member of the Hong Kong
Institute of Certified Public Acountants and the
Asociation of Chartered Certified Acountants.
They are proficient in the requirements of Hong
Kong capital market and international acounting
standards. Also, the Board has two female
Directors who, together with other Directors, ofer
profesional opinions to the Company in their
respective fields. The Nomination Comite
believes that the Board has diversification in
terms of gender, age, cultural and educational
background, profesional experience, skils, and
knowledge.
82Vico International Holdings Limited Anual Report 2024/2025
CORPORATE GOVERNANCE REPORT
企业管治报告
为实施董事会成员多元化政策，已
采纳以下可计量目标：
根据可计量目标对董事会目前组成
的分析载列如下：
For the purpose of implementation of the Board
Diversity Policy, the folowing measurable
objectives were adopted:
An analysis of the Board’s curent composition
based on the measurable objectives is set out
below:
GenderAge Group
性别年龄组别
Male: 6 Directors31–40: 3 Directors
男性：6名董事31–40岁：3名董事
Female: 2 Directors41–50: 3 Directors
女性：2名董事41–50岁：3名董事
61–70: 2 Directors
61–70岁：2名董事
DesignationEducational Background
职务教育背景
Executive Directors: 4 DirectorsBusines Administration: 5 Directors
执行董事：4名董事工商管理：5名董事
Non-executive Directors: 1 DirectorAcount and Finance: 4 Directors
非执行董事：1名董事会计及金融：4名董事
Independent Non-executive Directors: 3 DirectorsCorporate Governance: 1 Director
独立非执行董事：3名董事企业管治：1名董事
Other: 2 Directors
其他：2名董事
NationalityBusines Experience
国籍业务经验
Chinese: 8 DirectorsAcounting & Finance: 4 Directors
中国：8名董事会计与财务：4名董事
International Busines: 3 Directors
国际业务：3名董事
Logistics: 3 Directors
物流：3名董事
Marketing: 3 Directors
市场营销：3名董事
832024/2025年报 域高国际控股有限公司
CORPORATE GOVERNANCE REPORT
企业管治报告
提名委员会及董事会认为，董事会
目前的组成已达到董事会成员多元
化政策所设定的目标。
提名委员会将审阅董事会成员多元
化政策（如适用）以确保其有效。
性别多元化
本公司重视本集团所有层面的性别
多元化。下表载列于本年报日期本
集团员工（包括董事会及高级管理
层）的性别比例：
董事会的目标是实现并达到本集团
至少25%(2)的女性董事、50%(1)
的女性高级管理层及40%(9)的女性
雇员，并认为上述目前的性别多元
化令人满意。
The Nomination Comite and the Board are
of the view that the curent composition of the
Board has achieved the objectives set in the
Board Diversity Policy.
The Nomination Comite wil review the Board
Diversity Policy, as apropriate, to ensure its
efectivenes.
Gender Diversity
The Company values gender diversity acros al
levels of the Group. The folowing table sets out
the gender ratio in the workforce of the Group,
including the Board and senior management as
at the date of this Anual Report:
FemaleMale
女性男性
Board董事会25%
(2)
75%
(6)
Senior Management高级管理层100%
(2)
0%
(0)
Other employes其他雇员40.9%
(9)
59.1%
(13)
Overal workforce整体劳动力40.6%
(13)
59.4%
(19)
The Board had targeted to achieve and had
achieved at least 25% (2) of female Directors,
50% (1) of female senior management and
40% (9) of female employes of the Group and
considers that the above curent gender diversity
is satisfactory.
84Vico International Holdings Limited Anual Report 2024/2025
CORPORATE GOVERNANCE REPORT
企业管治报告
Details on the gender ratio of the Group
together with relevant data can be found in the
Environmental, Social and Governance Report
on pages 22 to 67 of this Anual Report.
(5) Director Nomination Policy
The Board has delegated its responsibilities
and authority for selection and apointment of
Directors to the Nomination Comite of the
Company.
The Company has adopted a Director
Nomination Policy which sets out the selection
criteria and proces and the Board sucesion
planing considerations in relation to nomination
and apointment of Directors and aims to ensure
that the Board has a balance of skils, experience
and diversity of perspectives apropriate to the
Company and the continuity of the Board and
apropriate leadership at Board level.
The Director Nomination Policy sets out the
factors for asesing the suitability and the
potential contribution to the Board of a proposed
candidate, including but not limited to the
folowing:
- ;
• Qualifications including profesional
qualifications, skils, knowledge,
experience and diversity aspects under
the Board Diversity Policy that are relevant
to the Company’s busines and corporate
strategy;
• Any measurable objectives adopted for
achieving diversity on the Board;
有关本集团性别比例及相关数据的
详情，请参阅本年报第22至67页的
环境、社会及管治报告。
(5) 董事提名政策
董事会已将其挑选及委任董事的职
责及权限委派予本公司提名委员
会。
本公司已采纳董事提名政策，其列
明董事提名及委任的相关甄选标准
及过程以及董事会继任计划考量因
素，旨在确保董事会具有适合本公
司的平衡技能、经验及多元化角度
及董事会持续运作及董事会层面的
合适领导。
董事提名政策列载评估候选人合适
与否及可为董事会带来的潜在贡献
的因素，包括但不限于以下各项：
- ；
- ，包括与本公司业务及
企业策略有关的专业资格、
技能、知识、经验及董事会
成员多元化政策下的多元化
方面；
• 就达致董事会多元化而采纳
的任何可计量目标；
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• 遵照上市规则董事会需有独
立董事的要求及参考上市规
则所载独立性指引有关人选
是否应视作独立；
- 、技能、经
验、独立性及性别多元化方
面可为董事会带来的任何潜
在贡献；
• 投入足够时间履行董事会
及╱或本公司董事委员会成
员职责的意愿及能力；以及
• 对本公司的业务及继任计划
而言合适及（倘适用）可能经
董事会及╱或提名委员会就
董事提名及继任计划不时采
纳及╱或修订的相关其他方
面。
董事提名政策亦载有新董事甄选及
委任及于股东大会重选董事的程
序。于报告期间内及直至本年报日
期，董事会的成员组成有变及有关
变动的详情载于本企业管治报告的
「董事会组成」一节。
提名委员会将审阅董事提名政策
（如适用）以确保其有效。
• Requirement for the Board to have
independent directors in acordance
with the Listing Rules and whether
the candidate would be considered
independent with reference to the
independence guidelines set out in the
Listing Rules;
• Any potential contributions the candidate
can bring to the Board in terms of
qualifications, skils, experience,
independence and gender diversity;
• Wilingnes and ability to devote adequate
time to discharge duties as a member of
the Board and/or Board comite(s) of
the Company; and
• Such other perspectives that are
apropriate to the Company’s busines
and sucesion plan and where
aplicable, may be adopted and/
or amended by the Board and/or the
Nomination Comite from time to
time for nomination of Directors and
sucesion planing.
The Director Nomination Policy also sets out the
procedures for the selection and apointment
of new Directors and re-election of Directors at
general metings. During the Reporting Period
and up to the date of this Anual Report, there
were changes in the composition of the Board
and details of the changes are set out in the
section headed “Board Composition” of this
Corporate Governance Report.
The Nomination Comite wil review the
Director Nomination Policy, as apropriate, to
ensure its efectivenes.
86Vico International Holdings Limited Anual Report 2024/2025
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企业管治报告
(6) 企业管治职能
董事会负责履行企业管治守则守则
条文第A.2.1条所载之企业管治职
能。
董事会企业管治职能的职权范围包
括（其中包括）(i)制订及检讨本公司
有关企业管治的政策及常规，并向
董事会提出建议；(i)检讨及监察董
事及高级管理层的培训及持续专业
发展；(i)检讨及监察本公司在遵
守法律及监管规定方面的政策及常
规；(iv)制订、检讨及监察适用于
雇员及董事的标准守则及书面雇员
指引（如有）遵守情况；及(v)检讨本
公司遵守企业管治守则之情况以及
本企业管治报告内之披露。
(6) Corporate Governance Functions
The Board is responsible for performing the
corporate governance functions set out in the
code provision A.2.1 of the CG Code.
The terms of reference of the Board for corporate
governance functions include, among others,
(i) developing and reviewing the Company’s
policies and practices on corporate governance
and made recomendations to the Board;
(i) reviewing and monitoring the training
and continuous profesional development of
the Directors and senior management; (i)
reviewing and monitoring the Company’s
policies and practices on compliance with legal
and regulatory requirements; (iv) developing,
reviewing and monitoring the compliance of the
Model Code and Writen Employe Guidelines (if
any) aplicable to employes and Directors; and
(v) reviewing the Company’s compliance with
the CG Code and disclosure in this Corporate
Governance Report.
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企业管治报告
D. 董事之会议出席记录
下表载列每名董事出席于报告期间举行之
本公司董事会议、董事委员会议及股
东周年大会之记录：
除定期董事会议外，主席与独立非执行
董事于年内亦已在其他董事避席的情况下
举行一次会议。除本公司于二零二四年九
月十一日举行的股东周年大会外，年内概
无举行任何其他股东大会。
D. ATENDANCE RECORDS OF DIRECTORS
The atendance record of each Director at the Board
meting, Board comite metings and anual general
meting of the Company held during the Reporting
Period is set out in the table below:
Atendance/Number of Metings
出席次数╱会议次数
Board
Nomination
Comite
Remuneration
Comite
Audit
Comite
Anual
General
Meting
Name of Director董事姓名董事会提名委员会薪酬委员会审核委员会股东周年大会
Hui Pui Sing许沛盛4/42/21/1
Tong Man Wah汤敏华4/41/1
Hui Yip Ho Eric许业豪4/41/11/1
Kong Man Ho江文豪4/41/1
Wong Chun Man王俊文4/40/1
Chan Ching Sum陈政深4/42/22/21/1
Leung Ho Chi梁浩志4/42/21/12/21/1
Ng Wing Sze Vince吴颖思4/41/12/21/1
Apart from the regular Board metings, the Chairman
also held a meting with the independent non-executive
Directors without the presence of other Directors during
the year. Apart from the anual general meting of the
Company held on 11 September 2024, no other general
meting was held during the year.
88Vico International Holdings Limited Anual Report 2024/2025
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E. 风险管理及内部监控
董事会确认其有关风险管理及内部监控制
度以及检讨彼等有效性之责任。该等制度
乃旨在管理而非消除未能达成业务目标之
风险，且只能就不会出现重大失实陈述或
损失作出合理而非绝对保证。
董事会全权负责评估及厘定达成本公司策
略目标所愿意承担的风险性质及程度，并
建立及维持适当及有效的风险管理及内部
监控制度。
审核委员会及内部监控顾问协助董事会带
领管理层及监管彼等对风险管理及内部监
控制度之设计、实施及监察。
本公司已制定及采纳多个风险管理程序及
指引，该等程序及指引授予主要业务程序
及办公职能（包括销售及客户管理、项目管
理、财务报告及人力资源）界定实施权限。
本公司已制定设有下列原则、功能及程序
之风险管理及内部监控制度：
所有部门定期进行内部监控评估，以识别
对本集团业务及各方面造成潜在影响的风
险，包括主要营运及财务程序、监管合规
及资料安全。本公司每年进行自我评估，
以确认各分部╱部门均已妥为遵守监控政
策。
E. RISK MANAGEMENT AND INTERNAL
CONTROLS
The Board acknowledges its responsibility for the
risk management and internal control systems and
reviewing their efectivenes. Such systems are
designed to manage rather than eliminate the risk of
failure to achieve busines objectives, and can only
provide reasonable and not absolute asurance against
material mistatement or los.
The Board has the overal responsibility for evaluating
and determining the nature and extent of the risks
it is wiling to take in achieving the Company’s
strategic objectives, and establishing and maintaining
apropriate and efective risk management and internal
control systems.
The Audit Comite and Internal Control Consultant
asist the Board in leading the management and
overseing their design, implementation and monitoring
of the risk management and internal control systems.
The Company has developed and adopted various risk
management procedures and guidelines with defined
authority for implementation by key busines proceses
and ofice functions, including sales and customers’
management, project management, financial reporting
and human resources.
The Company’s risk management and internal control
systems have ben developed with the folowing
principles, features and proceses:
Al departments conducted internal control asesment
regularly to identify risks that potentialy impact the
busines of the Group and various aspects including
key operational and financial proceses, regulatory
compliance and information security. Self-evaluation
has ben conducted anualy to confirm that control
policies are properly complied with by each division/
department.
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管理层协同分部╱部门主管评估风险发生
的可能性、制定应对计划及监督风险管理
程序、并向审核委员会及董事会报告所有
发现及该等制度之有效性。
管理层已向董事会确认截至二零二五年三
月三十一日止财政年度之风险管理及内部
监控制度之有效性。
本公司已委聘外部专业公司提供内部审计
职能，并对风险管理及内部监控制度之充
足性及有效性进行独立审阅。内部审计职
能已检讨有关会计惯例及所有重大监控之
主要事宜，并向审核委员会提交结果及作
出如何进行完善方面的建议意见。
截至二零二五年三月三十一日止财政年
度，董事会在审核委员会以及管理层报告
及内部审计结果的协助下检讨风险管理及
内部监控制度，包括财务、营运及合规监
控，并认为该等制度有效且充足。年度审
阅亦覆盖财务申报及内部审计职能以及员
工资格、经验及相关资源。
本公司已制定安排，从而令本公司雇员以
保密方式就本公司财务申报、内部监控或
其他方面之可能不正当行为提出关注。
The management, in cordination with division/
department heads, asesed the likelihod of risk
ocurence, provide treatment plans, and monitor
the risk management progres, and reported to the
Audit Comite and the Board on al findings and the
efectivenes of the systems.
The management has confirmed to the Board on the
efectivenes of the risk management and internal
control systems for the financial year ended 31 March
2025.
The Company has engaged external profesional firm
for providing the internal audit function and performing
independent review of the adequacy and efectivenes
of the risk management and internal control systems.
The internal audit function examined key isues in
relation to the acounting practices and al material
control and provided its findings and recomendations
for improvement to the Audit Comite.
The Board, as suported by the Audit Comite as
wel as the management report and the internal audit
findings, reviewed the risk management and internal
control systems, including the financial, operational
and compliance controls, for the financial year ended
31 March 2025, and considered that such systems are
efective and adequate. The anual review also covered
the financial reporting and internal audit function and
staf qualifications, experiences and relevant resources.
Arangements are in place to facilitate employes of
the Company to raise, in confidence, concerns about
posible improprieties in financial reporting, internal
control or other maters of the Company.
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企业管治报告
本公司已制定披露政策，载列给予本集团
董事、高级职员及所有相关雇员之指引，
以确保本公司之内幕消息根据适用法律及
法规以平等及时之方式向公众发布。
本公司已实施监控程序，确保严格禁止未
经授权获取及使用内幕消息。
F. 董事有关财务报表之责任
董事知悉彼等编制本公司截至二零二五年
三月三十一日止年度之财务报表之责任。
董事并不知悉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能力。
有关本公司独立核数师就财务报表的申报
责任的声明已载于本年报的独立核数师报
告。
G. 核数师薪酬
截至二零二五年三月三十一日止年度，本
公司就审计服务及非审计服务已付╱应付
本公司外部核数师之薪酬分别为550,000
港元及150,000港元。
The Company has developed its disclosure policy
which sets out guidelines to the Directors, oficers and
al relevant employes of the Group to ensure inside
information of the Company is to be diseminated to the
public in equal and timely maner in acordance with
the aplicable laws and regulations.
Control procedures have ben implemented to ensure
that unauthorized aces and use of inside information
are strictly prohibited.
- ’ RESPONSIBILITY IN RESPECT
OF THE FINANCIAL STATEMENTS
The Directors acknowledge their responsibility for
preparing the financial statements of the Company for
the year ended 31 March 2025.
The Directors are not aware of any material uncertainties
relating to events or conditions that may cast significant
doubt upon the Company’s ability to continue as a
going concern.
The statement of the independent auditors of the
Company about their reporting responsibilities on
the financial statements is set out in the Independent
Auditors’ Report in this Anual Report.
- ’ REMUNERATION
The remuneration paid/payable to the Company’s
external auditors in respect of audit services and non-
audit services for the year ended 31 March 2025
amounted to HK$550,000 and HK$150,000 respectively.
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企业管治报告
本公司截至二零二五年三月三十一日止年
度就审计服务及非审计服务支付予本公司
外部核数师栢淳会计师事务所有限公司之
薪酬分析载列如下：
H. 控股东之不竞争承诺
本公司控股东（即骏朗控股有限公司、许
沛盛先生、汤敏华女士及许业豪先生）（「控
股东」）于二零一八年一月十六日与本公
司（为其本身及作为其各附属公司的受托
人）订立不竞争契据（「不竞争契据」）。
各控股东已根据不竞争契据承诺，不时
向本公司及董事（包括独立非执行董事）提
供一切必要资料，以供独立非执行董事就
控股东及彼等各自的紧密联系人于受限
制期间（定义见本公司日期为二零一八年
一月三十日的招股章程）内遵守不竞争契据
条款的情况进行年度审阅。不竞争契据的
详情载于招股章程「与控股东的关系」一
节。
An analysis of the remuneration paid to the external
auditors of the Company, Prism Hong Kong Limited, in
respect of audit services and non-audit services for the
year ended 31 March 2025 is set out below:
Fes Paid/
Payable
Service Category服务类别已付╱应付费用
(HK$’000)
（千港元）
Audit Services审计服务
– Anual audit for the year ended
31 March 2025
– 截至二零二五年三月三十一日
止年度之年度审计550
Non-audit Services非审计服务
– Interim review for the six months ended
30 September 2024
– 截至二零二四年九月三十日
止六个月之中期审阅150
TOTAL总计700
H. NON-COMPETITION UNDERTAKING BY
CONTROLING SHAREHOLDERS
The controling shareholders of the Company (namely,
Max Fortune Holdings Limited, Mr. Hui Pui Sing,
Ms. Tong Man Wah and Mr. Hui Yip Ho Eric) (the
“Controling Shareholders”) entered into a ded of
non-competition (the “Ded of Non-competition”) with
the Company (for itself and as truste of each of its
subsidiaries) on 16 January 2018.
Each Controling Shareholder has undertaken under the
Ded of Non-competition to provide to the Company
and the Directors (including the independent non-
executive Directors) from time to time al information
necesary for the anual review by the independent
non-executive Directors with regard to compliance with
the terms of the Ded of Non-competition during the
Restricted Period (as defined in the prospectus of the
Company dated 30 January 2018) by the Controling
Shareholders and their respective close asociates.
Details of the Ded of Non-competition are set out in
the section headed “Relationship with our Controling
Shareholders” in the prospectus.
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企业管治报告
各控股东就于回顾年度遵守不竞争契据
条款的情况作出年度声明。独立非执行董
事已基于所获得的资料审阅并认为各控股
股东均已遵守不竞争契据之条款。
I. 公司秘书
于截至二零二五年三月三十一日止年度，
陈诗婷女士于二零二零年六月二十四日获
委任为本公司的公司秘书。陈女士为卓佳
专业商务有限公司（一家专门提供综合商
业、企业及投资者服务的全球性专业服务
供应商）的董事。
全体董事均可就企业管治及董事会常规和
事宜取得公司秘书的意见及服务。于截至
二零二五年三月三十一日止年度，根据上
市规则附录C1所载的企业管治守则守则条
文第C.6.1条，执行董事兼行政总裁许业豪
先生已获指派为本公司主要联络人，与陈
女士共事及就本公司企业管治及秘书及行
政事务进行沟通。
陈诗婷女士于截至二零二五年三月三十一
日止年度已遵照上市规则第3.29条接受不
少于15小时的相关专业培训。
Each Controling Shareholder has made an anual
declaration as to compliance with the terms of the
Ded of Non-competition during the year under review.
The independent non-executive Directors, based on
the information available to them, has reviewed and
consider that the terms of the Ded of Non-competition
has ben complied by each Controling Shareholder.
I. COMPANY SECRETARY
For the year ended 31 March 2025, Ms. Chan Sze
Ting was apointed as the company secretary of the
Company on 24 June 2020. Ms. Chan is a director of
Tricor Services Limited, a global profesional services
provider specializing in integrated busines, corporate
and investor services.
Al Directors have aces to the advice and services of
the company secretary on corporate governance and
Board practices and maters. Mr. Hui Yip Ho Eric, the
executive Director and the Chief Executive Oficer has
ben designated as the primary contact person at the
Company which would work and comunicate with
Ms. Chan on the Company’s corporate governance
and secretarial and administrative maters for the year
ended 31 March 2025, pursuant to Code Provision
C.6.1 of the Corporate Governance Code as set out in
Apendix C1 to the Listing Rules.
For the year ended 31 March 2025, Ms. Chan Sze
Ting has undertaken not les than 15 hours of relevant
profesional training respectively in compliance with
Rule 3.29 of the Listing Rules.
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企业管治报告
J. 股东权利
本公司透过多个沟通渠道与股东保持联
系，并已制定股东沟通政策，以确保股东
意见及关注获得妥善处理。本公司定期检
讨该政策，以确保其有效性。
为保障股东利益及权利，本公司将于股东
大会上就每项实际独立之事宜（包括选举个
别董事）提呈个别决议案。于股东大会上提
呈的所有决议案将根据上市规则按股数投
票表决，而投票结果将于各股东大会结束
后于本公司及联交所网站刊登。
(1) 召开股东特别大会
根据细则，股东特别大会可在一名
或以上于递呈要求当日持有权于
本公司股东大会投票的本公司缴足
股本不少于十分之一的股东要求下
召开。有关要求须以书面向董事或
本公司公司秘书提出，述明要求董
事会召开股东特别大会以处理要求
内订明的任何事项。该大会须于该
项要求递呈后两个月内举行。倘于
有关递呈后二十一日内，董事会未
有著手召开该大会，则递呈要求人
士可以相同方式召开大会，而本公
司须向递呈要求人士偿付由递呈要
求人士因董事会未能召开大会而产
生的所有合理开支。
- ’ RIGHTS
The Company engages with shareholders through
various comunication chanels and a shareholders’
comunication policy is in place to ensure that
shareholders’ views and concerns are apropriately
adresed. The policy is regularly reviewed to ensure
its efectivenes.
To safeguard shareholder interests and rights, separate
resolution should be proposed for each substantialy
separate isue at general metings, including the
election of individual Director. Al resolutions put forward
at general metings wil be voted on by pol pursuant to
the Listing Rules and pol results wil be posted on the
websites of the Company and of the Stock Exchange
after each general meting.
(1) Convening Extraordinary General Meting
Extraordinary general metings may be
convened on the requisition of one or more
shareholders holding, at the date of deposit of
the requisition, not les than one-tenth of the
paid up capital of the Company carying the right
of voting at general metings of the Company
pursuant to the Articles. Such requisition shal be
made in writing to the Directors or the company
secretary of the Company for the purpose of
requiring an extraordinary general meting to
be caled by the Board for the transaction of
any busines specified in such requisition. Such
meting shal be held within two months after the
deposit of such requisition. If within twenty-one
days of such deposit the Board fails to proced
to convene such meting, the requisitionist(s)
himself (themselves) may do so in the same
maner, and al reasonable expenses incured
by the requisitionist(s) as a result of the
failure of the Board shal be reimbursed to the
requisitionist(s) by the Company.
94Vico International Holdings Limited Anual Report 2024/2025
CORPORATE GOVERNANCE REPORT
企业管治报告
(2) 于股东大会上提呈建议
倘一名股东欲于股东大会上提名一
名非退任董事人士参选董事，根据
细则，合资格出席股东大会并于会
上投票之股东（并非被提名人士）应
寄发一份经该股东正式签署之书面
通告，其内表明建议提名该人士参
选之意向，以及一份由获提名人士
签署之通告，表明愿意参选。此等
通告须呈交下述本公司总办事处或
本公司股份过户登记分处。呈交该
等通告之期间由寄发该股东大会通
告翌日起计至该股东大会举行日期
前七日止。
(2) Puting Forward Proposals at General
Metings
If a shareholder wishes to propose a person
other than a retiring Director for election as
a Director at a general meting, pursuant to
the Articles, the shareholder (other than the
person to be proposed) duly qualified to atend
and vote at the general meting shal send a
writen notice, duly signed by the shareholder,
of his/her intention to propose such person
for election and also a notice signed by the
person to be proposed of his/her wilingnes to
be elected. These notices should be lodged at
the Company’s head ofice or the ofice of the
Company’s branch share registrar as mentioned
below. The period for lodgement of such notices
shal comence on the day after the despatch
of the notice of such general meting and end
no later than 7 days prior to the date of such
general meting.
952024/2025年报 域高国际控股有限公司
CORPORATE GOVERNANCE REPORT
企业管治报告
(3) 作出查询之程序
股东可将上述彼等的查询或要求送
交至以下地址：
地址：香港长沙湾
长裕街10号
亿京广场二期11楼D室
致：董事会
电话：(852)2728 8820
电邮：cs@vicointernational.hk
股东如对其名下持股、股份转让、
登记及派付股息有任何问题，应向
本公司香港股份过户登记分处提
出，其详情如下：
卓佳证券登记有限公司
地址：香港夏悫道16号
远东金融中心17楼
电邮：is-enquiries@hk.tricorglobal.com
电话：(852)2980 1333
传真：(852)2810 8185
欢迎股东透过本公司网站
w.vicointernational.hk提供的网
上查询表格提出查询，谨此提醒股
东在提出查询时提供详细联络资
料，以便本公司在认为合适时作出
及时回应。一般而言，本公司不会
处理口头或匿名的查询。
(3) Procedures for Raising Enquiries
Shareholders may send their enquiries or
requests as mentioned above to the folowing:
Adres:Unit D, 11/F, Bilion Plaza I,
No. 10 Cheung Yue Stret,
Cheung Sha Wan, Hong Kong
Atention:Board of Directors
Tel:(852) 2728 8820
Email:cs@vicointernational.hk
Shareholders should direct their enquiries about
their shareholdings, share transfer, registration
and payment of dividend to the Company’s
branch share registrar in Hong Kong, details of
which are as folows:
Tricor Investor Services Limited
Adres:17/F, Far East Finance Centre,
16 Harcourt Road, Hong Kong
Email:is-enquiries@hk.tricorglobal.com
Tel:(852) 2980 1333
Fax:(852) 2810 8185
Shareholders are encouraged to make enquires
via the online enquiry form available on the
Company’s website at w.vicointernational.hk
and are reminded to lodge their questions
together with their detailed contact information
for the prompt response from the Company
if it dems apropriate. The Company wil
not normaly deal with verbal or anonymous
enquiries.
96Vico International Holdings Limited Anual Report 2024/2025
CORPORATE GOVERNANCE REPORT
企业管治报告
K. 与股东及投资者沟通
本公司认为，与股东有效沟通对加强投资
者关系及让投资者了解本集团业务表现及
策略相当重要。本公司尽力保持与股东之
间的对话，尤其是透过股东周年大会及其
他股东大会。董事（或其代表，倘适用）会
于股东周年大会上与股东会晤并回应其查
询。
L. 与股东相关的政策
股东沟通政策
本公司设有股东沟通政策，以确保妥善回
应股东意见及关注问题。政策定期经审阅
以确保其有效。
股息政策
本公司已于二零一八年十二月十三日采纳
有关股息支付的股息政策。本公司并无任
何预先厘定的派息率。视乎本公司及本集
团的财务状况及股息政策所载的条件及因
素，董事会可在财政年度内建议及╱或宣
派股息及财政年度的任何末期股息须经股
东批准。
M. 公司组织章程文件
于报告期间，本公司组织章程文件概无变
动。
K. COMUNICATION WITH SHAREHOLDERS AND
INVESTORS
The Company considers that efective comunication
with shareholders is esential for enhancing investor
relations and investor understanding of the Group’s
busines performance and strategies. The Company
endeavours to maintain an on-going dialogue with
shareholders and in particular, through anual general
metings and other general metings. At the anual
general meting, Directors (or their delegates as
apropriate) are available to met shareholders and
answer their enquiries.
L. POLICIES RELATING TO SHAREHOLDERS
Shareholders’ Comunication Policy
The Company has in place a Shareholders’
Comunication Policy to ensure that shareholders’
views and concerns are apropriately adresed. The
policy is regularly reviewed to ensure its efectivenes.
Dividend Policy
The Company has adopted a Dividend Policy on
payment of dividends on 13 December 2018. The
Company does not have any pre-determined dividend
payout ratio. Depending on the financial conditions of
the Company and the Group and the conditions and
factors as set out in the Dividend Policy, dividends may
be proposed and/or declared by the Board during a
financial year and any final dividend for a financial year
wil be subject to the shareholders’ aproval.
- ’S CONSTITUTIONAL DOCUMENT
There was no change in the Company’s constitutional
documents during the Reporting Period.
2024/2025年报 域高国际控股有限公司
DIRECTORS’ REPORT
董事会报告
董事欣然呈报彼等之报告连同本集团于本期间之
经审核综合财务报表。
主要活动
本公司之主要活动为投资控股。其附属公司的主
要活动载于综合财务报表附注33。本集团的主要
活动为经营销售柴油、润滑油和其他产品以及提
供车队咭服务的业务。
业绩及股息
本集团于本期间的业绩及本公司和本集团于该日
的事务状况载于随附的财务报表。
董事不建议就截至二零二五年三月三十一日止年
度派付末期股息（二零二四年：无）。
五年财务概要
本集团的已刊发的过往五个财政年度之业绩以及
资产及负债概要载于本报告第239至240页。该概
要并不构成综合财务报表的一部分。
物业、厂房及设备
本集团截至二零二五年三月三十一日止年度的物
业、厂房及设备的变动详情载于综合财务报表附
注16。
银行借贷
本集团于二零二五年三月三十一日的银行借贷详
情载于综合财务报表附注24。
股本
本公司于本期间的股本的变动详情载于综合财务
报表附注26。
The Directors are pleased to present their report together with
the audited consolidated financial statements of the Group for
the Curent Period.
PRINCIPAL ACTIVITIES
The principal activity of the Company is investment holding.
The principal activities of its subsidiaries are set out in note
33 to the consolidated financial statements. The principal
activities of the Group are the operation of the busines of the
sales of diesel, lubricant oil and others and provision of flet
cards service.
RESULTS AND DIVIDENDS
The results of the Group for the Curent Period and the state of
afairs of the Company and the Group at that date are set out
in the acompanying financial statements.
The Directors do not recomend the payment of final dividend
for the year ended 31 March 2025 (2024: Nil).
FIVE-YEAR FINANCIAL SUMARY
A sumary of the published results and of the asets and
liabilities of the Group for the last five financial years is set out
on page 239 to 240 of this report. This sumary does not form
part of the consolidated financial statements.
PROPERTY, PLANT AND EQUIPMENT
Details of the movements in property, plant and equipment
of the Group for the year ended 31 March 2025 are set out in
note 16 to the consolidated financial statements.
BANK BOROWINGS
Particulars of bank borowings of the Group as at 31 March
2025 are set out in note 24 to the consolidated financial
statements.
SHARE CAPITAL
Details of movements in the share capital of the Company
during the Curent Period are set out in note 26 to the
consolidated financial statements.
Vico International Holdings Limited Anual Report 2024/202598
DIRECTORS’ REPORT
董事会报告
RESERVES
Details of movements in the reserves of the Group and
the Company during the Curent Period are set out in the
consolidated statement of changes in equity on page 123 and
note 28 to the consolidated financial statement respectively.
DISTRIBUTABLE RESERVES
As at 31 March 2025, the Company did not have any reserves
available for distribution (as at 31 March 2024: Nil).
CHARITABLE CONTRIBUTIONS
During the Curent Period, the Company did not make any
charitable donations (as at 31 March 2024: Nil).
DIRECTORS
The Directors during the Curent Period and up to the date of
this report were:
Executive Directors
Mr. HUI Pui Sing (Chairman)
Ms. TONG Man Wah
Mr. HUI Yip Ho Eric
Mr. KONG Man Ho
Non-executive Director
Mr. WONG Chun Man
Independent non-executive Directors
Mr. CHAN Ching Sum
Mr. LEUNG Ho Chi
Ms. NG Wing Sze Vince
储备
本集团及本公司于本期间的储备变动详情分别载
于第123页的综合权益变动表及综合财务报表附
注28。
可供分派储备
于二零二五年三月三十一日，本公司并无任何可
供分派储备（于二零二四年三月三十一日：无）。
慈善捐款
于本期间，本公司并无作出任何慈善捐款（于二零
二四年三月三十一日：无）。
董事
于本期间及直至本报告日期的董事如下：
执行董事
许沛盛先生（主席）
汤敏华女士
许业豪先生
江文豪先生
非执行董事
王俊文先生
独立非执行董事
陈政深先生
梁浩志先生
吴颖思女士
2024/2025年报 域高国际控股有限公司99
DIRECTORS’ REPORT
董事会报告
根据细则第84条，许沛盛先生、许业豪先生及江
文豪先生将于股东周年大会退任。所有退任董事
将符合资格并愿意于股东周年大会重选连任。
本公司已接获各独立非执行董事的年度独立性确
认及于本报告日期仍认为彼等为独立。
董事之服务合约及委任函件
(a) 执行董事
各执行董事已与本公司订立服务合约，为
期三年，除非经任何一方向另一方发出不
少于三个月书面通知予以终止，惟须受细
则项下董事轮值退任条文所规限。
(b) 非执行董事
非执行董事已与本公司订立委任函，自其
委任日期起计为期一年并随后于二零二五
年重续为期一年，惟须受细则项下董事轮
值退任条文所规限。有关委任可由任何一
方向另一方发出不少于两个月书面通知予
以终止。
In acordance with Article 84 of the Articles, Mr. HUI Pui
Sing, Mr HUI Yip Ho Eric and Mr KONG Man Ho wil retire
at the AGM. Al the retiring directors being eligible wil ofer
themselves for re-election at the AGM.
The Company has received anual confirmations of
independence from each independent non-executive Director
and as at the date of this report stil considers them to be
independent.
DIRECTORS’ SERVICE CONTRACTS AND LETERS
OF APOINTMENT
(a) Executive Directors
Each of the executive Directors has entered into a
service contract with the Company for a term of thre
years, unles terminated by not les than thre months’
notice in writing served by either party on the other
subject to the provision of retirement and rotation of
Directors under the Articles.
(b) Non-executive Director
The non-executive Director has entered into a leter
of apointment with the Company for a term of one
year comencing from his date of apointment and
subsequently renewed for a further term of one year
in year 2025 subject to the provision of retirement
and rotation of Directors under the Articles. Such
apointment may be terminated by not les than two
months’ notice in writing served by either party on the
other.
Vico International Holdings Limited Anual Report 2024/2025100
DIRECTORS’ REPORT
董事会报告
(c) 独立非执行董事
各独立非执行董事已与本公司订立委任
函，自各自的委任日期起计为期一年并随
后于二零二五年重续为期一年，惟须受细
则项下董事轮值退任条文所规限。有关委
任可经任何一方向另一方发出不少于两个
月书面通知予以终止。
概无董事与本公司或其任何附属公司订立
或拟订立任何服务合约（于一年内届满或可
由本公司或其附属公司（如适用）免付赔偿
（法定赔偿除外）而终止的合约除外）。
董事及高级管理层履历
董事及本集团高级管理层履历详情乃载于本年报
第14至21页。
董事及五名最高薪酬人士之薪酬
董事薪酬由本公司薪酬委员会参考市场基准建
议。本公司亦会研究个别董事的能力、职责及表
现。
本公司已接获各独立非执行董事的年度独立性确
认及于本报告日期仍认为彼等为独立。
(c) Independent non-executive Directors
Each of the independent non-executive Directors has
entered into a leter of apointment with the Company
for a term of one year comencing from the respective
date of apointment and subsequently renewed for
a further term of one year in year 2025 subject to the
provision of retirement and rotation of Directors under
the Articles. Such apointment may be terminated by
not les than two months’ notice in writing served by
either party on the other.
None of the Directors has or is proposed to have
a service contract with the Company or any of
its subsidiaries (other than contracts expiring or
determinable by the Company or its subsidiaries,
as aplicable) within one year without payment of
compensation, other than statutory compensation.
DIRECTORS’ AND SENIOR MANAGEMENT’S
BIOGRAPHIES
Biographical details of the Directors and the senior
management of the Group are set out on pages 14 to 21 of this
Anual Report.
EMOLUMENTS OF DIRECTORS AND FIVE HIGHEST
PAID INDIVIDUALS
The emolument of the Directors is recomended by the
Remuneration Comite of the Company by reference to the
benchmarking of the market. The Company also loks into
individual Director’s competence, duties, responsibilities and
performance.
The Company has received anual confirmations of
independence from each independent non-executive Director
and as at the date of this report stil considers them to be
independent.
2024/2025年报 域高国际控股有限公司101
DIRECTORS’ REPORT
董事会报告
董事及最高行政人员于本公司股份及相关股
份的权益及淡仓
于二零二五年三月三十一日，董事及本公司最高
行政人员于本公司或其相联法团（定义见证券及期
货条例（「证券及期货条例」）第XV部）之股本及相关
股份及债权证中根据证券及期货条例第352条须
载入本公司须存置的登记册内的权益及淡仓，或
根据标准守则须另行知会本公司及联交所的权益
及淡仓列载如下：
于本公司股份及相关股份的好仓
附注：
- 「L」指该名人士于有关股份的好仓。
- 、汤女士及许业豪先生分别持有35%、
35%及30%权益。根据证券及期货条例，许先生、
汤女士及许业豪先生各自被视为于骏朗持有的全部
730,000,000股份中拥有权益。
- 。汤女士及许先生根据证券及
期货条例分别被视为于许先生及汤女士直接或间接持
有的股份中拥有权益。
DIRECTORS’ AND CHIEF EXECUTIVE’S INTERESTS
AND SHORT POSITIONS IN THE SHARES AND
UNDERLYING SHARES OF THE COMPANY
As at 31 March 2025, the interests and short positions of the
Directors and chief executive of the Company in the share
capital and underlying shares and debentures of the Company
or its asociated corporations (within the meaning of Part
XV of the Securities and Futures Ordinance (the “SFO”), as
recorded in the register required to be kept by the Company
pursuant to section 352 of the SFO, or as otherwise notified to
the Company and the Stock Exchange pursuant to the Model
Code, were as folows:
Long positions in the shares and underlying shares of the
Company
Name of DirectorNature of interest
Number of
Shares
(1)
Aproximate
shareholding
percentage
in the isued
share capital
of the Company
董事姓名权益性质股份数目
(1)
占本公司已发行
股本的概约
持股百分比
(%)
Mr. HuiInterest in a controled corporation
(2)
and
interest of spouse
(3)
730,000,000 (L)73
许先生受控制法团权益
(2)
及配偶权益
(3)
Ms. TongInterest in a controled corporation
(2)
and
interest of spouse
(3)
730,000,000 (L)73
汤女士受控制法团权益
(2)
及配偶权益
(3)
Mr. Eric HuiInterest in a controled corporation
(2)
730,000,000 (L)73
许业豪先生受控制法团权益
(2)
Notes:
1. The leter (L) denotes the person’s long position in such Shares.
2. Max Fortune was owned by Mr. Hui, Ms. Tong and Mr. Eric Hui as to
35%, 35% and 30%, respectively. Under the SFO, each of Mr. Hui,
Ms. Tong and Mr. Eric Hui was demed to be interested in al of the
730,000,000 Shares held by Max Fortune.
3. Mr. Hui is the spouse of Ms. Tong. Ms. Tong and Mr. Hui were demed
under the SFO to be interested in the Shares held, directly or indirectly,
by Mr. Hui and Ms. Tong, respectively.
Vico International Holdings Limited Anual Report 2024/2025102
DIRECTORS’ REPORT
董事会报告
于相联法团（定义见证券及期货条例）之股份的好
仓
附注：
- 。汤女士及许先生根据证券及
期货条例分别被视为于许先生及汤女士直接或间接持
有的骏朗股份中拥有权益。
- ,000,000股份权益，占本公司已发行股
本73%。因此，骏朗就证券及期货条例而言为本公司
的控股公司及相联法团。
除许先生及许业豪先生为骏朗的董事外，于二零
二五年三月三十一日，概无其他董事于在本公司
股份及相关股份中拥有权益或淡仓的公司担任董
事或雇员而须根据证券及期货条例第XV部第2及
第3分部条文向本公司作出披露。
Long positions in the shares of the asociated corporation (as
defined in the SFO)
Name of Director
Name of
asociated
corporationNature of interest
Number of
sharesClas of shares
Aproximate
shareholding
percentage
of the
asociated
corporation’s
isued share
capital
董事姓名相联法团名称权益性质股份数目股份类别
占相联法团
已发行股本
的概约持股
百分比
Mr. Hui
(1)
Max Fortune
(2)
Beneficial interest and interest
of spouse
(1)
700Ordinary shares35%
许先生
(1)
骏朗
(2)
实益权益及配偶权益
(1)
普通股
Ms. Tong
(1)
Max Fortune
(2)
Beneficial interest and interest
of spouse
(1)
700Ordinary shares35%
汤女士
(1)
骏朗
(2)
实益权益及配偶权益
(1)
普通股
Mr. Eric HuiMax Fortune
(2)
Beneficial interest600Ordinary shares30%
许业豪先生骏朗
(2)
实益权益普通股
Notes:
1. Mr. Hui is the spouse of Ms. Tong. Ms. Tong and Mr. Hui were demed
under the SFO to be interested in the shares of Max Fortune held,
directly or indirectly, by Mr. Hui and Ms. Tong, respectively.
2. Max Fortune was interested in 730,000,000 Shares, representing 73% of
the isued share capital of the Company. Max Fortune was therefore a
holding company and an asociated corporation of the Company for the
purpose of the SFO.
Save for each of Mr. Hui and Mr. Eric Hui being a director of
Max Fortune, as at 31 March 2025, none of the other Directors
were directors or employes of a company which had an
interest or short position in the shares and underlying shares of
the Company which would fal to be disclosed to the Company
under the provisions of Divisions 2 and 3 of Part XV of the SFO.
2024/2025年报 域高国际控股有限公司103
DIRECTORS’ REPORT
董事会报告
除上文披露者外，概无任何董事或本公司最高行
政人员于本公司股份、相关股份或债权证中拥有
权益及╱或淡仓（倘适用），或于本公司相联法团
（定义见证券及期货条例第XV部）之股份、相关
股份或债权证中拥有任何权益及╱或淡仓（倘适
用），而(i)根据证券及期货条例第XV部第7及第8
分部须知会本公司及联交所（包括根据证券及期货
条例的该等条文被当作或被视为拥有的权益及淡
仓）、(i)根据证券及期货条例第352条须载入该条
所指登记册内或(i)根据标准守则须知会本公司及
联交所者。
主要股东于本公司股份及相关股份的权益及
淡仓
于二零二五年三月三十一日，以下人士（董事及本
公司最高行政人员除外，其权益于上文披露）及法
团于股份或相关股份中拥有或被视作或当作拥有
根据证券及期货条例第XV部第2及第3分部的条文
须向本公司及联交所披露的权益及╱或淡仓：
附注：
- 。
- 、汤女士及许业豪先生分别持有35%、
35%及30%权益。
Save as disclosed above, none of the Directors or the chief
executive of the Company had an interest and/or short position
(as aplicable) in the shares, underlying shares or debentures
of the Company or any interests and/or short positions (as
aplicable) in the shares, underlying shares or debentures of
the Company’s asociated corporations (within the meaning
of Part XV of the SFO) which (i) wil have to be notified to the
Company and the Stock Exchange pursuant to Divisions 7 and
8 of Part XV of the SFO (including interests and short positions
which they are taken or demed to have under such provisions
of the SFO), (i) wil be required, pursuant to Section 352 of the
SFO, to be entered in the register refered to therein or (i) wil
be required, pursuant to the Model Code, to be notified to the
Company and the Stock Exchange.
SUBSTANTIAL SHAREHOLDER’S INTERESTS
AND SHORT POSITIONS IN THE SHARES AND
UNDERLYING SHARES OF THE COMPANY
As at 31 March 2025, the folowing persons (other than the
Directors and chief executives of the Company whose interests
are disclosed above) and corporations had or were demed or
taken to have an interest and/or a short position in the Shares
or the underlying Shares which would fal to be disclosed to
the Company and the Stock Exchange under the provisions of
Divisions 2 and 3 of Part XV of the SFO:
Name of shareholderNature of interest
Number of
Shares
(1)
Aproximate
shareholding
percentage in
the Company’s
isued share
capital
股东名称权益性质股份数目
(1)
占本公司已
发行股本的
概约持股百分比
(%)
Max Fortune
(2)
Beneficial owner730,000,000 (L)73
骏朗
(2)
实益拥有人
Notes:
1. The Leter (L) denotes the person’s long position in the Shares.
2. Max Fortune was owned by Mr. Hui, Ms. Tong and Mr. Eric Hui as to
35%, 35% and 30%, respectively.
Vico International Holdings Limited Anual Report 2024/2025104
DIRECTORS’ REPORT
董事会报告
除上文所披露及「董事及最高行政人员于本公司股
份及相关股份的权益及淡仓」一节所披露者外，董
事并不知悉任何其他人士或法团拥有根据证券及
期货条例第XV部第2及第3分部条文的规定须向本
公司披露的股份及相关股份的任何权益或淡仓。
董事于交易、安排或合约的权益
于年末时或于年内任何时间，本公司、其控股公
司、或其任何附属公司或同系附属公司并无订立
董事或与董事有关连之实体直接或间接拥有重大
权益之任何涉及本公司业务之重要交易、安排或
合约。
控股东于重大合约的权益
本公司或其任何附属公司的控股东（定义见上市
规则）概无就提供服务予本公司或其任何附属公司
订立重大合约。
购买股份或债权证的安排
除本报告「董事及最高行政人员于本公司股份及
相关股份的权益及淡仓」及「购股权计划」各节所披
露者外，本公司、其控股公司或任何其附属公司
或同系附属公司概无于年内任何时间订立任何安
排，致使董事可藉收购本公司或任何其他法人团
体之股份或债权证而得益。
Save as disclosed above and those disclosed under the
section headed “Directors’ and Chief Executive’s Interests and
Short Positions in the Shares and Underlying Shares of the
Company”，the Directors are not aware of any other person or
corporation who has any interest or short position in the Shares
and underlying Shares which would fal to be disclosed to the
Company under the provisions of Divisions 2 and 3 of Part XV
of the SFO.
DIRECTORS’ INTERESTS IN TRANSACTIONS,
ARANGEMENTS OR CONTRACTS
No transactions, arangements or contracts of significance in
relation to the Company’s busines, to which the Company,
its holding company, or any of its subsidiaries or felow
subsidiaries was a party and in which the Directors or an entity
conected with the Directors had a material interest, whether
directly or indirectly, subsisted at the end of the year or at any
time during the year.
CONTROLING SHAREHOLDER’S INTEREST IN
CONTRACTS OF SIGNIFICANCE
No contract of significance for the provision of services to
the Company or any of its subsidiaries by the controling
shareholder (as defined in the Listing Rules) of the Company
or any of its subsidiaries was entered into.
ARANGEMENTS TO PURCHASE SHARES OR
DEBENTURES
Save for those disclosed in the sections headed “Directors’
and Chief Executive’s Interests and Short Positions in Shares
and Underlying Shares of the Company” and “Share Option
Scheme” in this report, at no time during the year was the
Company, its holding company, or any of its subsidiaries or
felow subsidiaries a party to any arangements to enable the
Directors to acquire benefits by means of the acquisition of
shares in, or debentures of, the Company or any other body
corporate.
2024/2025年报 域高国际控股有限公司105
DIRECTORS’ REPORT
董事会报告
管理合约
于二零二五年三月三十一日，除董事的服务合约
外，本公司并无订立或拥有与本公司全部或任何
主要业务的管理及╱或行政管理有关的合约。
董事在竞争业务中的权益
于本期间，董事并不知悉董事或本公司控股东
或彼等各自的任何紧密联系人（定义见上市规则）
拥有任何对本集团业务构成或可能构成竞争的业
务及权益，亦不知悉任何有关人士与本集团存在
或可能存在任何其他利益冲突。
本公司已接获各董事就其承诺不与本集团业务竞
争发出的年度确认。
购股权计划
购股权计划（「购股权计划」）乃于二零一八年一月
十六日经本公司股东的书面决议案有条件采纳。
下文为购股权计划条款概要：
1. 目的
购股权计划旨在奖励对本集团有贡献的合
资格参与者（定义见下文第(2)段），并鼓励
合资格参与者致力为本公司及其股东之整
体利益提升本公司及股份的价值。
MANAGEMENT CONTRACTS
As at 31 March 2025, other than the service contracts of
the Directors, the Company did not enter into or have any
management and/or administration contracts in respect of the
whole or any principal busines of the Company.
DIRECTORS’ INTERESTS IN COMPETING BUSINES
During the Curent Period, the Directors are not aware of
any busines and interest of the Directors nor the controling
shareholders of the Company nor any of their respective close
asociates (as defined in the Listing Rules) that compete or
may compete with the busines of the Group and any other
conflict of interests which any such person has or may have
with the Group.
The Company has received from each of the Directors
an anual confirmation of his/her undertaking as to non-
competition with the busines of the Group.
SHARE OPTION SCHEME
The share option scheme (the “Share Option Scheme”)
was conditionaly adopted by the writen resolutions of the
shareholders of the Company on 16 January 2018.
The folowing is a sumary of the terms of the Share Option
Scheme:
1. Purpose
The purpose of the Share Option Scheme is to reward
Eligible Participants (as defined in paragraph (2) below)
who have contributed to the Group and to encourage
Eligible Participants to work towards enhancing the
value of the Company and the Shares for the benefit of
the Company and the shareholders as a whole.
Vico International Holdings Limited Anual Report 2024/2025106
DIRECTORS’ REPORT
董事会报告
2. 参与人士
董事会可全权酌情决定向下列人士（统称
「合资格参与者」）授出购股权，以按下文第
(7)段厘定的行使价认购董事会可能厘定的
相关数目股份：
(A) 本公司或其任何附属公司的任何全
职或兼职雇员、行政人员或高级职
员；
(B) 本公司或其任何附属公司的任何董
事（包括独立非执行董事）；及
(C) 董事会全权认为将对或已对本公司
及╱或其任何附属公司作出贡献
的任何顾问、咨询师、代理、供应
商、客户、分销商及有关其他人
士。
3. 最高股份数目
因根据购股权计划及本公司任何其他购股
权计划已授出而有待行使的全部尚未行使
购股权获行使而可予配发及发行的最高股
份数目，合共不得超过不时已发行股份总
数的30%。根据购股权计划及本公司任何
其他购股权计划可能授出的购股权所涉及
的最高股份数目，合共不得超过于股份上
市日期已发行股份总数的10%。于二零二
四年四月一日及二零二五年三月三十一
日，根据购股权计划可授出的最高股份数
目为100,000,000股份，占本年报日期
已发行股份总数的10%。任何进一步授出
超过该限额的购股权，则须于股东大会获
股东批准。于本年报日期，自采纳购股权
计划以来概无授出购股权及概无未行使购
股权。
2. Participants
The Board may, at its absolute discretion, ofer to grant
an option to the folowing persons (colectively the
“Eligible Participants”) to subscribe for such number
of Shares as the Board may determine at an exercise
price determined in acordance with paragraph (7)
below:
(A) any ful-time or part-time employes, executives
or oficers of the Company or any of its
subsidiaries;
(B) any directors (including independent non-
executive directors) of the Company or any of its
subsidiaries; and
(C) any advisers, consultants, agents, supliers,
customers, distributors and such other persons
who, in the sole opinion of the Board, wil
contribute or have contributed to our Company
and/or any of its subsidiaries.
3. Maximum number of Shares
The maximum number of Shares which may be aloted
and isued upon the exercise of al outstanding options
granted and yet to be exercised under the Share Option
Scheme and any other share option schemes of the
Company must not, in agregate, exced 30% of the
total number of Shares in isue from time to time. The
maximum number of Shares in respect of which options
may be granted under the Share Option Scheme and
any other share option schemes of the Company must
not, in agregate, exced 10% of the total number of
Shares in isue as at the date of listing of the Shares.
The maximum number of Shares that may be granted
under the Share Option Scheme as at 1 April 2024 and
31 March 2025 was 100 milion Shares, representing
10% of the total number of isued Shares as at the
date of this Anual Report. Any further grant of share
options in exces of this limit is subject to shareholders’
aproval in a general meting. As at the date of this
Anual Report, no share options have ben granted
since adoption of the Share Option Scheme and there
were no outstanding share options.
2024/2025年报 域高国际控股有限公司107
DIRECTORS’ REPORT
董事会报告
4. 每名合资格参与者的配额上限
在截至授出日期（包括该日）止任何十二个
月期间根据购股权计划及本公司任何其他
购股权计划向每名合资格参与者授出的购
股权（包括已行使、已注销及尚未行使的购
股权）获行使而已发行及将予发行的股份总
数不得超过于授出日期已发行股份总数的
1%。任何进一步授出超过该1%限额的购
股权，则须于本公司股东大会获股东另行
批准，而有关合资格参与者及其联系人（或
倘合资格参与者为核心关连人士，则其联
系人）须放弃投票。
5. 根据购股权可认购股份之期限
购股权必须于授出日期起计10年或董事会
于授出时可能订明之有关较短期间内予以
行使。
- （如有）
并无于购股权计划内订明于可行使前须持
有购股权之最短期限。
7. 厘定购股权行使价之基准
行使价为董事会全权酌情厘定的有关价
格，惟该价格须至少为以下各项之最高
者：(i)于授出日期联交所每日报价表所述
股份之收市价；(i)紧接授出日期前五个交
易日联交所每日报价表所述之股份平均收
市价；及(i)一股份之面值。
8. 购股权计划之有效期
购股权计划之有效期为十年，并将于二零
二八年三月五日届满，除非根据购股权计
划之条款另行终止。于本年报日期，购股
权计划的余下年期为约五年。
4. Maximum entitlement of each Eligible Participant
The total number of Shares isued and which may
fal to be isued upon exercise of the options granted
under the Share Option Scheme and any other share
option schemes of our Company (including both
exercised, canceled and outstanding options) to each
Eligible Participant in any 12-month period up to and
including the date of grant must not exced 1% of the
total number of Shares in isue as at the date of grant.
Any further grant of options in exces of this 1% limit
must be separately aproved by the shareholders in
general meting of the Company with such Eligible
Participant and his/her asociates (or his/her asociates
if the Eligible Participant is a core conected person)
abstaining from voting.
5. Period within which the Shares must be taken up
under an option
An option must be exercised within 10 years from the
date on which it is granted or such shorter period as the
Board may specify at the time of grant.
6. Minimum period, if any, for which an option must be
held
No minimum period for which the option has to be held
before it can be exercised is specified in the Share
Option Scheme.
7. Basis of determining the exercise price of an option
The exercise price shal be such price as the Board in
its absolute discretion shal determine, save that such
price must be at least the highest of (i) the closing price
of the Shares as stated in the Stock Exchange’s daily
quotation shet on the date of grant; (i) the average
closing prices of the Shares as stated in the Stock
Exchange’s daily quotation shets for the five trading
days imediately preceding the date of grant; and (i)
the nominal value of a Share.
8. Validity of the Share Option Scheme
The Share Option Scheme has a life of 10 years and wil
expire on 5 March 2028 unles otherwise terminated in
acordance with the terms of the Share Option Scheme.
As at the date of this Anual Report, the Share Option
Scheme had a remaining life of aproximately 5 years.
Vico International Holdings Limited Anual Report 2024/2025108
DIRECTORS’ REPORT
董事会报告
遵守相关法例及规例
就董事所知，本集团在各重大方面已遵守对本集
团业务及营运有重大影响的相关法例及规例。于
截至二零二五年三月三十一日止年度，本集团概
无严重违反或不遵守适用法例及规例的情况。
主要客户及供应商
截至二零二五年三月三十一日止年度，本集团最
大及五大客户所贡献总收入分别占本集团总收入
24.4%及69.0%（二零二四年：18.6%及62.8%）。
截至二零二五年三月三十一日止年度，本集团
自最大及五大供应商之采购分别占本集团采购
总价值之86.2%及87.6%（二零二四年：88.7%及
89.5%）。于截至二零二五年三月三十一日止年度
之任何时间内，概无本公司董事、彼等紧密联系
人或任何股东（就董事所知拥有本公司已发行股份
总数逾5%者）于上文所披露之本集团主要客户或
供应商中拥有任何权益。
关连交易及持续关连交易
截至二零二五年三月三十一日止年度，本集团并
未订立根据上市规则第14A章须披露为关连交易
或持续关连交易的任何交易。与关联方进行的重
大交易的详情载于综合财务报表附注30。根据上
市规则第14A章，该等关联方交易并不构成关连
交易或持续关连交易。载于综合财务报表附注13
的已付本集团主要管理层（包括董事）之薪酬乃豁
免遵守上市规则第14A.95条关连交易规定的持续
关连交易。
COMPLIANCE WITH THE RELEVANT LAWS AND
REGULATIONS
As far as the Directors are aware, the Group has complied in
material respects with the relevant laws and regulations that
have a significant impact on the busines and operation of the
Group. During the year ended 31 March 2025, there was no
material breach of or non-compliance with the aplicable laws
and regulations by the Group.
MAJOR CUSTOMERS AND SUPLIERS
For the year ended 31 March 2025, the agregate amount of
turnover atributed to the Group’s largest and the five largest
customers acounted for 24.4% and 69.0% (2024: 18.6% and
62.8%) of the total revenue of the Group, respectively. For the
year ended 31 March 2025, the Group’s purchase from the
largest and the five largest supliers acounted for 86.2%
and 87.6% (2024: 88.7% and 89.5%) of the total purchases of
the Group, respectively. At no time during the year ended 31
March 2025 did the Directors, their close asociates or any
shareholder of the Company (which to the knowledge of the
Directors, owns more than 5% of the Company’s total number
of isued shares) have any interest in the Group’s major
customers or supliers as disclosed above.
CONECTED TRANSACTIONS AND CONTINUING
CONECTED TRANSACTIONS
During the year ended 31 March 2025, the Group did not
enter into any transactions which ned to be disclosed as
conected transactions or continuing conected transactions
pursuant to Chapter 14A of the Listing Rules. Details of the
significant transactions with related parties are set out in note
30 to the consolidated financial statements. These related
party transactions did not constitute conected transactions
or continuing conected transactions pursuant to Chapter 14A
of the Listing Rules. Remuneration paid to key management
personel of the Group, including Directors described in note
13 to the consolidated financial statements, are continuing
conected transactions exempt from the conected transaction
requirements under Rule 14A.95 of the Listing Rules.
2024/2025年报 域高国际控股有限公司109
DIRECTORS’ REPORT
董事会报告
企业管治
本公司已应用上市规则附录C1所载之企业管治守
则所载之原则。
董事会认为于本期间，本公司已遵守企业管治守
则所载之所有守则条文。
优先购买权
开曼群岛法律或细则概无就本公司须按比例向本
公司现有股东提呈发售新股份之优先购买权或类
似权利作出任何规定。
获准许的弥偿条文
根据细则，本公司每名董事、秘书及其他高级职
员就其执行职责或其他方面与此有关之情况下可
能蒙受或产生之所有损失或责任，有权获得从
本公司之资产及溢利中拨付弥偿及不受损害。此
外，本公司已为针对董事的相关法律行动投购合
适的董事及高级职员责任保险。
业务回顾
有关本年度内本公司业务的公平回顾及本集团表
现的讨论及分析、主要风险及本公司面对的不确
定因素，以及与业绩及财务状况有关的重大因素
载列于本年报第6至13页所载的管理层讨论及分
析。有关讨论构成本报告一部分。
环境、社会及管治报告
为确保遵守环境、社会及管治策略及报告规定，
董事会监督本集团的环境、社会及管治风险管理
及内部监控制度。本集团采取的环境、社会及管
治措施详情载于本报告第22至67页「环境、社会
及管治报告」一节。
CORPORATE GOVERNANCE
The Company has aplied the principles as set out in the CG
Code contained in Apendix C1 to the Listing Rules.
The Board is of the view that during the Curent Period, the
Company has complied with al the code provisions as set out
in the CG Code.
PRE-EMPTIVE RIGHTS
There are no provisions for pre-emptive or similar rights under
the laws of the Cayman Islands or the Articles which would
oblige the Company to ofer new Shares on a pro-rata basis to
the existing shareholders of the Company.
PERMITED INDEMNITY PROVISION
The Articles provides that every Director, secretary and other
oficers of the Company shal be entitled to be indemnified and
secured harmles out of the asets and profits of the Company
against al loses or liabilities which they may sustain or incur in
or about the execution of the duties of their ofices or otherwise
in relation thereto. In adition, the Company has maintained
apropriate directors’ and oficers’ liability insurance in respect
of the relevant legal actions against the Directors.
BUSINES REVIEW
A fair review of the busines of the Company as wel as a
discusion and analysis of the Group’s performance during the
year, principal risks and uncertainties facing the Company and
the material factors underlying its results and financial position
can be found in the Management Discusion and Analysis set
out on pages 6 to 13 of this Anual Report. These discusions
form part of this report.
ENVIRONMENTAL, SOCIAL AND GOVERNANCE
REPORT
In order to ensure compliance with ESG strategies and
reporting requirements, the Board overses the Group’s
ESG risk management and internal control systems. Detailed
information on the environmental, social and governance
measures adopted by the Group is set out in the section
headed “Environmental, Social and Governance Report” on
pages 22 to 67 of this report.
Vico International Holdings Limited Anual Report 2024/2025110
DIRECTORS’ REPORT
董事会报告
股东周年大会
本公司将于二零二五年九月十日（星期三）举行二
零二五年股东周年大会，大会通告将根据细则、
上市规则及其他适用法律及法规寄发予本公司股
东。
审核委员会
审核委员会由三名成员组成，彼等均为独立非执
行董事，即梁浩志先生、陈政深先生及吴颖思女
士。梁浩志先生为审核委员会主席。审核委员会
具备符合上市规则及企业管治守则的书面职权范
围。
审核委员会连同管理层已审阅本集团所采纳之会
计原则及常规，并已讨论本集团之风险管理、内
部监控及财务申报事宜。审核委员会就本公司所
采纳之会计处理并无异议。本集团于本期间之综
合全年业绩已由审核委员会审阅。
暂停办理过户登记
为厘定出席股东周年大会及于会上投票的资格
本公司计划于二零二五年九月十日举行二零二五
年股东周年大会。为厘定出席股东周年大会之资
格，本公司将于二零二五年九月五日至二零二
五年九月十日（包括首尾两日）期间暂停办理过户
登记，期间将不会办理本公司之股份过户登记手
续。为符合资格出席股东周年大会及于会上投
票，所有过户文件连同相关股票须在不迟于二零
二五年九月四日下午四时三十分递交予本公司之
香港股份过户登记分处卓佳证券登记有限公司，
地址为香港夏悫道16号远东金融中心17楼，以
办理登记。厘定有权出席股东周年大会并于会上
投票之股东资格之记录日期为二零二五年九月十
日。
ANUAL GENERAL METING
The 2025 AGM wil be held on Wednesday, 10 September
2025, the notice of which shal be sent to the shareholders of
the Company in acordance with the Articles, Listing Rules
and other aplicable laws and regulations.
AUDIT COMITE
The Audit Comite comprises thre members, al of whom
are independent non-executive Directors, namely Mr. LEUNG
Ho Chi, Mr. CHAN Ching Sum and Ms. NG Wing Sze Vince.
Mr. LEUNG Ho Chi is the chairman of the Audit Comite. The
Audit Comite has writen terms of reference in compliance
with the Listing Rules and the CG Code.
The Audit Comite has in conjunction with the management
reviewed the acounting principles and practices adopted by
the Group and discused risk management, internal controls
and financial reporting maters of the Group. The Audit
Comite has no disagrement with the acounting treatment
adopted by the Company. The consolidated anual results of
the Group for the Curent Period have ben reviewed by the
Audit Comite.
CLOSURE OF REGISTER OF MEMBERS
For determining the entitlement to atend and vote at the
Anual General Meting
The 2025 AGM of the Company is scheduled to be held on
10 September 2025. For the purpose of determining the
entitlement to atend the AGM, the register of members of the
Company wil be closed during the period from 5 September
2025 to 10 September 2025, both days inclusive, during which
period no transfer of share(s) of the Company wil be efected.
In order to qualify for atending and voting at the AGM, al
transfer document(s), acompanied by the relevant share
certificate(s), must be lodged with the Company’s branch
share registrar in Hong Kong, Tricor Investor Services Limited
of 17/F, Far East Finance Centre, 16 Harcourt Road, Hong
Kong for registration not later than 4:30 p.m. on 4 September
2025. The record date for determining the entitlement of
shareholders to atend and vote at the AGM is 10 September
2025.
2024/2025年报 域高国际控股有限公司111
DIRECTORS’ REPORT
董事会报告
充足公众持股量
根据本公司可公开获得的资料及就董事所知，于
本报告日期，本公司已维持上市规则所规定的公
众持股量。
董事资料变更
自本公司刊发截至二零二四年九月三十日止六个
月的中期报告以来根据上市规则第13.51B(1)条规
定须予披露的董事资料变更列载如下：
- ,000港
元及酌情花红，自二零二五年四月一日起
生效。
- ，自
二零二五年四月一日起计为期一年并无权
收取任何董事袍金。
(3) 独立非执行董事陈政深先生获重续委任
函，自二零二五年四月十二日起计为期一
年。
(4) 独立非执行董事梁浩志先生获重续委任
函，自二零二五年四月一日起计为期一
年。
(5) 独立非执行董事吴颖思女士获重续委任
函，自二零二五年四月一日起计为期一
年。
报告期后事项
除本年报所披露者外，于本期间后及截至本报告
日期，本公司或本集团概无进行重大期后事项。
SUFICIENCY OF PUBLIC FLOAT
Based on the information that is publicly available to the
Company and within the knowledge of the Directors, the
Company has maintained the prescribed public float under the
Listing Rules as at the date of this report.
CHANGES IN DIRECTORS’ INFORMATION
The changes in directors’ information as required to be
disclosed pursuant to Rule 13.51B(1) of the Listing Rules since
the publication of the Company’s interim report for the six
months ended 30 September 2024 are set out below:
- , executive Director, is entitled to a salary of
HK$520,000 per anum and a discretionary bonus with
efect from 1 April 2025.
- , non-executive Director, renewed
his leter of apointment for a further term of one year
comencing from 1 April 2025 and is not entitled to any
director’s fe.
- , independent non-executive
Director, renewed his leter of apointment for a further
term of one year comencing from 12 April 2025.
- , independent non-executive
Director, renewed his leter of apointment for a further
term of one year comencing from 1 April 2025.
- , independent non-executive
Director, renewed her leter of apointment for a further
term of one year comencing from 1 April 2025.
EVENTS AFTER THE REPORTING PERIOD
Save as disclosed in this Anual Report, there is no material
subsequent event undertaken by the Company or by the
Group after the Curent Period and up to the date of this report.
Vico International Holdings Limited Anual Report 2024/2025112
DIRECTORS’ REPORT
董事会报告
核数师
于二零二三年四月四日，信永中和（香港）会计
师事务所有限公司（「信永中和」）辞任本公司核数
师，而栢淳会计师事务所有限公司于二零二三年
四月四日获委任为本公司核数师，以填补信永中
和辞任产生的临时空缺。于过去三年，核数师并
无其他变动。
综合财务报表已由栢淳会计师事务所有限公司审
核。栢淳会计师事务所有限公司将退任，惟符合
资格并愿意膺选连任。本公司将于应届股东周年
大会上提呈一项决议案，以续聘栢淳会计师事务
所有限公司为本公司核数师。
代表董事会
主席
许沛盛
香港，二零二五年六月二十六日
AUDITORS
On 4 April 2023, SHINEWING (HK) CPA Limited
(“SHINEWING”) resigned as the auditor of the Company and
Prism Hong Kong Limited was apointed as the auditor of the
Company on 4 April 2023 to fil the casual vacancy arising
from the resignation of SHINEWING. There have ben no other
changes in auditors in the past thre years.
The consolidated financial statements have ben audited by
Prism Hong Kong Limited who wil retire and, being eligible,
ofer themselves for re-apointment. A resolution wil be
submited to the forthcoming AGM to re-apoint Prism Hong
Kong Limited as the auditors of the Company.
On behalf of the Board
HUI Pui Sing
Chairman
Hong Kong, 26 June 2025
1132024/2025年报 域高国际控股有限公司
INDEPENDENT AUDITOR’S REPORT
独立核数师报告
致域高国际控股有限公司各股东
（于开曼群岛注册成立的有限公司）
意见
本核数师已审核载于第120至238页的域高国际控
股有限公司（「贵公司」）及其附属公司（统称为「贵
集团」）的综合财务报表，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
的综合损益及其他全面收益表、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
会计准则（「香港财务报告准则」）真实及公平地反
映 贵集团于二零二五年三月三十一日之综合财
务状况以及 贵集团截至该日止年度之综合财务
表现及其综合现金流量，并已按照香港公司条例
的披露规定妥善编制。
意见基础
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」）进行审核。我们根据该等准则
承担的责任已于本报告「核数师就审核综合财务报
表须承担的责任」一节中详述。根据香港会计师
公会的专业会计师道德守则（「守则」），我们独立
于 贵集团，并已遵循守则履行其他道德责任。
我们相信，我们所获得的审核凭证充足且适当，
可为我们的审核意见提供基础。
TO THE SHAREHOLDERS OF VICO INTERNATIONAL
HOLDINGS LIMITED
(incorporated in Cayman Islands with limited liability)
OPINION
We have audited the consolidated financial statements of
Vico International Holdings Limited (the “Company”) and its
subsidiaries (colectively refered to as the “Group”) set out on
pages 120 to 238, which comprise the consolidated statement
of financial position as at 31 March 2025, and the consolidated
statement of profit or los and other comprehensive income,
consolidated statement of changes in equity and consolidated
statement of cash flows for the year then ended, and notes
to the consolidated financial statements, including material
acounting 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 31 March 2025, and of its consolidated financial
performance and its consolidated cash flows for the year then
ended in acordance with HKFRS Acounting Standards
(“HKFRSs”) isued by the Hong Kong Institute of Certified
Public Acountants (“HKICPA”) and have ben properly
prepared in compliance with the disclosure requirements of
the Hong Kong Companies Ordinance.
BASIS FOR OPINION
We conducted our audit in acordance with Hong Kong
Standards on Auditing (“HKSAs”) isued by the HKICPA. Our
responsibilities under those standards are further described in
the Auditor’s Responsibilities for the Audit of the Consolidated
Financial Statements section of our report. We are independent
of the Group in acordance with the HKICPA’s Code of Ethics
for Profesional Acountants (the “Code”), and we have
fulfiled our other ethical responsibilities in acordance with the
Code. We believe that the audit evidence we have obtained is
suficient and apropriate to provide a basis for our opinion.
114Vico International Holdings Limited Anual Report 2024/2025
INDEPENDENT AUDITOR’S REPORT
独立核数师报告
关键审核事项
根据我们的专业判断，关键审核事项为我们审核
本期间综合财务报表中最重要的事项。我们在审
核综合财务报表并就此形成意见时已从整体上处
理此等事项，而不会就该等事项单独发表意见。
贸易应收款项估值
请参阅综合财务报表附注20及第166至175页的会
计政策。
KEY AUDIT MATERS
Key audit maters are those maters that, in our profesional
judgment, were of most significance in our audit of the
consolidated financial statements of the curent period. These
maters were adresed 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 maters.
Valuation of trade receivables
Refer to Note 20 to the consolidated financial statements and
the acounting policies on pages 166 to 175.
The key audit materHow the mater was adresed in our audit
关键审核事项审计如何处理关键审核事项
As at 31 March 2025, the Group had trade receivables
of HK$37,986,000, with acumulated los alowance
for impairment of trade receivables of aproximately
HK$1,630,000.
于二零二五年三月三十一日， 贵集团的贸易应收款项
为37,986,000港元，贸易应收款项减值累计亏损拨备约
为1,630,000港元。
Alowance for impairment of trade receivables is
based on lifetime expected credit loses model, which
is estimated by taking into acount the credit los
experience and forward loking information including
both curent and forecast general economic conditions.
贸易应收款项减值拨备乃基于全期预期信贷亏损模式，
通过考虑信贷亏损经验及前瞻性资料（包括现时及预测的
整体经济环境）而估计得出。
Our procedures in relation to the valuation of trade
receivables included:
我们有关贸易应收款项估值的程序包括：
- , capabilities and
objectives of the valuer and management;
- 、能力及客观性；
• Obtaining an understanding from the valuer and
management about the valuation methodology,
significant asumptions adopted, key inputs and
data used in the valuation and how the valuers
and management justify the methodology and
asumptions used;
- 、估值所采用的
重大假设、主要输入数据及所使用的数据；以及
估值师及管理层如何证明所使用的方法及假设；
• Testing the acuracy of the historical default
data and evaluating whether the historical los
rates are apropriately adjusted based on
curent economic conditions and forward-loking
information;
• 根据当前经济状况及前瞻性资料测试历史违约数
据的准确性及评估历史亏损率是否适当调整；
1152024/2025年报 域高国际控股有限公司
INDEPENDENT AUDITOR’S REPORT
独立核数师报告
关键审核事项（续）
贸易应收款项估值（续）
The key audit materHow the mater was adresed in our audit
关键审核事项审计如何处理关键审核事项
We have identified valuation of trade receivables as a
key audit mater because the impairment asesment
of trade receivables involved a significant degre
of management estimation and may be subject
to management bias. To suport management’s
asesment of the ECLs, the Group engaged an
external valuer to perform asesment on the ECLs of
the trade receivables at the end of the reporting period.
我们已识别贸易应收款项估值为一项关键审核事项，因
为贸易应收款项的减值评估涉及重大程度的管理层估计
及可能受管理层观点所影响。为支持管理层评估预期信
贷亏损， 贵集团委聘外部估值师对报告期末的贸易应
收款项的预期信贷亏损进行评估。
• Testing on a sample basis the acuracy of
management’s aging analysis and subsequent
setlement of trade receivables based on
suporting documents;
• 根据支持文件抽样测试管理层对贸易应收款项账
龄分析及后续结算的准确性；
• Checking the mathematical acuracy of the
calculation of the los alowance; and
- ；及
• Evaluating the adequacy of disclosures related
to expected credit loses on trade receivables.
• 评估贸易应收款项预期信贷亏损相关披露的准确
性。
KEY AUDIT MATERS (CONTINUED)
Valuation of trade receivables (Continued)
116Vico International Holdings Limited Anual Report 2024/2025
INDEPENDENT AUDITOR’S REPORT
独立核数师报告
其他资料
贵公司董事需对其他资料负责。其他资料包括刊
载于年报内的资料，但不包括综合财务报表及我
们的核数师报告。
我们对综合财务报表的意见并不涵盖其他资料，
我们亦不对该等其他资料发表任何形式的鉴证结
论。
结合我们对综合财务报表的审计，我们的责任是
阅读其他资料，在此过程中，考虑其他资料是否
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
资料存在重大错误陈述，我们需要报告该事实。
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，并对其认为使综
合财务报表的拟备不存在由于欺诈或错误而导致
的重大错误陈述所需的内部控制负责。
在拟备综合财务报表时，董事负责评估 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。
治理层须负责监察 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 anual report, but does not include the
consolidated financial statements and our auditor’s report
thereon.
Our opinion on the consolidated financial statements does not
cover the other information and we do not expres any form of
asurance conclusion thereon.
In conection 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 materialy inconsistent with the consolidated financial
statements or our knowledge obtained in the audit or otherwise
apears to be materialy mistated. If, based on the work
we have performed, we conclude that there is a material
mistatement 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 acordance with HKFRSs isued by the
HKICPA and the disclosure requirements of the Hong Kong
Companies Ordinance, and for such internal control as the
directors determine is necesary to enable the preparation of
consolidated financial statements that are fre from material
mistatement, whether due to fraud or eror.
In preparing the consolidated financial statements, the
directors are responsible for asesing the Group’s ability
to continue as a going concern, disclosing, as aplicable,
maters related to going concern and using the going concern
basis of acounting unles 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 overseing
the Group’s financial reporting proces.
1172024/2025年报 域高国际控股有限公司
INDEPENDENT AUDITOR’S REPORT
独立核数师报告
核数师就审计综合财务报表承担的责任
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，并按照我们协定之委聘条款仅向 阁下（作
为整体）出具包括我们意见的核数师报告。除此
以外，我们的报告不可用作其他用途。我们并不
就此报告之内容对任何其他人士承担任何责任或
接受任何义务。合理保证是高水准的保证，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
执行审计程式以应对这些风险，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，或凌驾于内部控制之
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
控制的有效性发表意见。
• 评价 贵公司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。
AUDITOR’S RESPONSIBILITY FOR THE AUDIT OF
THE CONSOLIDATED FINANCIAL STATEMENTS
Our objectives are to obtain reasonable asurance about
whether the consolidated financial statements as a whole are
fre from material mistatement, whether due to fraud or eror,
and to isue an auditor’s report that includes our opinion,
solely to you, as a body, in acordance with our agred terms
of engagement, and for no other purpose. We do not asume
responsibility towards or acept liability to any other person
for the contents of this report. Reasonable asurance is a
high level of asurance, but is not a guarante that an audit
conducted in acordance with HKSAs wil always detect a
material mistatement when it exists. Mistatements can arise
from fraud or eror and are considered material if, individualy
or in the agregate, 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 acordance with HKSAs, we exercise
profesional judgment and maintain profesional skepticism
throughout the audit. We also:
• Identify and ases the risks of material mistatement
of the consolidated financial statements, whether due
to fraud or eror, design and perform audit procedures
responsive to those risks, and obtain audit evidence
that is suficient and apropriate to provide a basis
for our opinion. The risk of not detecting a material
mistatement resulting from fraud is higher than for one
resulting from eror, as fraud may involve colusion,
forgery, intentional omisions, misrepresentations, or
the overide of internal control.
• Obtain an understanding of internal control relevant
to the audit in order to design audit procedures that
are apropriate in the circumstances, but not for the
purpose of expresing an opinion on the efectivenes
of the Group’s internal control.
• Evaluate the apropriatenes of acounting policies
used and the reasonablenes of acounting estimates
and related disclosures made by the directors of the
Company.
118Vico International Holdings Limited Anual Report 2024/2025
INDEPENDENT AUDITOR’S REPORT
独立核数师报告
核数师就审计综合财务报表承担的责任（续）
• 对 贵公司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，则修订
我们的意见。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。
- ，以就集团内实体或
业务单位的财务资料获取充足适当的审核
凭证，作为对集团财务报表发表意见的基
础。吾等负责指导、监督及审阅为进行集
团审核而执行的审核工作。吾等为审核意
见承担全部责任。
我们与治理层沟通了计划的审计范围、时间安
排、重大审计发现等，包括我们在审计中识别出
内部控制的任何重大缺陷。
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，采取消除威胁
的措施或相关的防范措施。
AUDITOR’S RESPONSIBILITY FOR THE AUDIT OF
THE CONSOLIDATED FINANCIAL STATEMENTS
(CONTINUED)
- ’s
directors’ use of the going concern basis of acounting
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 atention in our auditor’s 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 auditor’s
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 maner that achieves fair presentation.
• Plan and perform the group audit to obtain suficient
apropriate audit evidence regarding the financial
information of the entities or busines 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 comunicate with those charged with governance
regarding, among other maters, the planed 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 comunicate
with them al relationships and other maters that may
reasonably be thought to bear on our independence, and
where aplicable, actions taken to eliminate threats or
safeguards aplied.
1192024/2025年报 域高国际控股有限公司
INDEPENDENT AUDITOR’S REPORT
独立核数师报告
核数师就审计综合财务报表承担的责任（续）
从与治理层沟通的事项中，我们确定哪些事项对
本期间综合财务报表的审计最为重要，因而构成
关键审核事项。我们在核数师报告中描述这些事
项，除非法律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的报
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专案合伙人是叶智
超先生。
栢淳会计师事务所有限公司
执业会计师
叶智超
执业证书编号：P06934
香港
二零二五年六月二十六日
AUDITOR’S RESPONSIBILITY FOR THE AUDIT OF
THE CONSOLIDATED FINANCIAL STATEMENTS
(CONTINUED)
From the maters comunicated with those charged with
governance, we determine those maters that were of
most significance in the audit of the consolidated financial
statements of the curent period and are therefore the key
audit maters. We describe these maters in our auditor’s
report unles law or regulation precludes public disclosure
about the mater or when, in extremely rare circumstances,
we determine that a mater should not be comunicated in
our report because the adverse consequences of doing so
would reasonably be expected to outweigh the public interest
benefits of such comunication.
The engagement partner on the audit resulting in this
independent auditor’s report is Mr. Yip Chi Chiu.
Prism Hong Kong Limited
Certified Public Acountants
Yip Chi Chiu
Practising Certificate Number: P06934
Hong Kong
26 June 2025
| 2025 |
|---|
| 二零二五年 |
| HK$’000 |
| 千港元 |
| 1,544,763 |
| (1,498,851) |
| 45,912 |
| 1,739 |
| (5,289) |
| (25,754) |
| (1,186) |
| 15,422 |
| (3,076) |
| 12,346 |
| 1.23 |
120Vico International Holdings Limited Anual Report 2024/2025
CONSOLIDATED STATEMENT OF PROFIT OR LOS AND OTHER COMPREHENSIVE INCOME
综合损益及其他全面收益表
FOR THE YEAR ENDED 31 MARCH 2025 截至二零二五年三月三十一日止年度
二零二四年
NotesHK$’000
附注千港元
Revenue收益71,595,083
Cost of sales销售成本(1,546,744)
Gros profit毛利48,339
Other income其他收入92,806
Seling and distribution expenses销售及分销开支(4,657)
Administrative and operating
expenses
行政及营运开支
(23,696)
Finance costs融资成本10(1,456)
Profit before tax除税前溢利21,336
Income tax expense所得税开支11(4,403)
Profit and total comprehensive
income for the year
年内溢利及全面收益总额
1216,933
Earnings per share (HK cents)每股盈利（港仙）
Basic and diluted基本及摊薄151.69
| 2025 |
|---|
| 二零二五年 |
| HK$’000 |
| 千港元 |
| 117,773 |
| 6,400 |
| 4,791 |
| 128,964 |
| 10,871 |
| 63,073 |
| 87 |
| 1,278 |
| 20,802 |
| 62,212 |
| 158,323 |
| 11,164 |
| 2,059 |
| 35,220 |
| 524 |
| 48,967 |
| 109,356 |
1212024/2025年报 域高国际控股有限公司
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
综合财务状况表
AS AT 31 MARCH 2025 于二零二五年三月三十一日
二零二四年
NotesHK$’000
附注千港元
Non-curent asets非流动资产
Property, plant and equipment物业、厂房及设备16123,332
Investment properties投资物业177,197
Right-of-use asets使用权资产18664
131,193
Curent asets流动资产
Inventories存货1911,602
Trade and other receivables贸易及其他应收款项2090,348
Amount due from ultimate holding
company
应收最终控股公司款项
Income tax recoverable可收回所得税4
Time deposit定期存款225,791
Cash and cash equivalents现金及现金等价物2234,160
141,977
Curent liabilities流动负债
Trade and other payables贸易及其他应付款项2310,382
Lease liabilities租赁负债18790
Bank borowings and overdrafts银行借贷及透支2434,369
Income tax payables应付所得税4,231
49,772
Net curent asets流动资产净值92,205
| 2025 |
|---|
| 二零二五年 |
| HK$’000 |
| 千港元 |
| 238,320 |
| 2,764 |
| 242 |
| 2,945 |
| 5,951 |
| 232,369 |
| 10,000 |
| 222,369 |
| 232,369 |
122Vico International Holdings Limited Anual Report 2024/2025
AS AT 31 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
第120至238页的综合财务报表已于二零二五年六
月二十六日获董事会批准及授权刊发，并由下列
董事代表签署：
二零二四年
NotesHK$’000
附注千港元
Total asets les curent liabilities总资产减流动负债223,398
Non-curent liabilities非流动负债
Lease liabilities租赁负债18–
Provision for long service payments长期服务金拨备29242
Defered tax liabilities递延税项负债253,133
3,375
Net asets资产净值220,023
Capital and reserves资本及储备
Share capital股本2610,000
Reserves储备210,023
Total equity总权益220,023
The consolidated financial statements on pages 120 to 238
were aproved and authorised for isue by the board of
directors on 26 June 2025 and are signed on its behalf by:
Hui Pui SingTong Man Wah
许沛盛汤敏华
DirectorDirector
董事董事
| 10,000 | 62,978 | 28,272 | 118,773 | 220,023 |
|---|---|---|---|---|
| – | – | – | 12,346 | 12,346 |
| 10,000 | 62,978 | 28,272 | 131,119 | 232,369 |
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
综合权益变动表
FOR THE YEAR ENDED 31 MARCH 2025 截至二零二五年三月三十一日止年度
1232024/2025年报 域高国际控股有限公司
Share
capital
Share
premium
Capital
reserve
Retained
profitsTotal
股本股份溢价资本储备保留溢利总计
HK$’000HK$’000HK$’000HK$’000HK$’000
千港元千港元千港元千港元千港元
(Note)
（附注）
At 1 April 2023于二零二三年
四月一日10,00062,97828,272101,840203,090
Profit and total
comprehensive income
for the year
年内溢利及全面收益
总额
–16,93316,933
At 31 March 2024 and
1 April 2024
于二零二四年
三月三十一日及
二零二四年
四月一日
Profit and total
comprehensive income
for the year
年内溢利及全面收益
总额
At 31 March 2025于二零二五年
三月三十一日
Note:
Capital reserve includes (i) the diference of aproximately HK$596,000 betwen
the nominal value of the share capital isued by the Company for the acquisition
of the entire interests in Bilion Harvest Ventures Limited (“Bilion Harvest”)
and the nominal value of share capital of Bilion Harvest during the year ended
31 March 2018 and (i) capitalisation of the amount due to Mr. Hui Pui Sing
(“Mr. Hui”) of aproximately HK$27,676,000 which the Company aloted and
isued 250 shares, credited as fuly paid, to Mr. Hui during the year ended 31
March 2018.
附注：
资本储备包括(i)截至二零一八年三月三十一日止年度，本公
司就收购亿丰创投有限公司（「亿丰」）全部权益所发行的股本面
值与亿丰股本面值之间的差额约596,000港元及(i)截至二零一
八年三月三十一日止年度，将应付许沛盛先生（「许先生」）的约
27,676,000港元资本化，由本公司配发及发行250股入账列作缴
足的股份予许先生。
| 2025 |
|---|
| 二零二五年 |
| HK$’000 |
| 千港元 |
| 15,422 |
| 7,623 |
| 309 |
| 1,992 |
| 360 |
| (23) |
| 488 |
| 1,186 |
| (698) |
| (564) |
| (321) |
| – |
| 25,774 |
| 731 |
| 26,937 |
| 783 |
| 54,225 |
| (8,245) |
| 45,980 |
124Vico International Holdings Limited Anual Report 2024/2025
CONSOLIDATED STATEMENT OF CASH FLOWS
综合现金流量表
FOR THE YEAR ENDED 31 MARCH 2025 截至二零二五年三月三十一日止年度
二零二四年
HK$’000
千港元
OPERATING ACTIVITIES经营活动
Profit before tax除税前溢利21,336
Adjustments for:就以下各项作出调整：
Depreciation of property, plant and
equipment
物业、厂房及设备折旧
8,189
Depreciation of investment properties投资物业折旧322
Depreciation of right-of-use asets使用权资产折旧1,749
Impairment los (reversal of impairment
los) on trade receivables, net
贸易应收款项减值亏损
（减值亏损拨回）净额(2,302)
(Reversal of) impairment los on other
receivables
其他应收款项（拨回）减值亏损
Impairment los on investment
properties
投资物业减值亏损
Finance costs融资成本1,456
Gain on disposal of property, plant and
equipment
出售物业、厂房及设备的收益
(1,037)
Bank interest income银行利息收入(495)
Government subsidies政府补贴–
Reversal of impairment los on
inventories
存货减值亏损拨回
(101)
Operating cash flows before movements
in working capital
营运资金变动前营运现金流
29,484
Decrease(increase) in inventories存货减少（增加）(945)
Decrease(increase) in trade and
other receivables
贸易及其他应收款项减少（增加）
(20,849)
Increase in trade and other payables贸易及其他应付款项增加2,526
Cash generated from operations经营所得现金10,216
Income tax paid已付所得税(103)
NET CASH GENERATED FROM
OPERATING ACTIVITIES
经营活动所得现金净额
10,113
| 2025 |
|---|
| 二零二五年 |
| HK$’000 |
| 千港元 |
| (2,259) |
| (20,802) |
| (15) |
| 5,791 |
| 893 |
| 564 |
| (15,828) |
| (7,182) |
| (2,181) |
| (1,091) |
| 4,000 |
| 321 |
| (6,133) |
| 24,019 |
| 34,160 |
| 58,179 |
| 62,212 |
| (4,033) |
| 58,179 |
1252024/2025年报 域高国际控股有限公司
FOR THE YEAR ENDED 31 MARCH 2025 截至二零二五年三月三十一日止年度
CONSOLIDATED STATEMENT OF CASH FLOWS
综合现金流量表
二零二四年
HK$’000
千港元
INVESTING ACTIVITIES投资活动
Acquisition of property, plant and
equipment
收购物业、厂房及设备
(1,393)
Placements of time deposit存放定期存款(5,791)
Advance to ultimate holding company垫款予最终控股公司(13)
Withdrawal of time deposit提取定期存款9,421
Proceds from disposal of property, plant
and equipment
出售物业、厂房及设备的
所得款项1,191
Interest income received已收利息收入495
NET CASH (USED IN) GENERATED
FROM INVESTING ACTIVITIES
投资活动（所用）所得现金净额
3,910
FINANCING ACTIVITIES融资活动
Repayment of bank borowings偿还银行借贷(16,404)
Repayment of lease liabilities偿还租赁负债(1,762)
Interest paid已付利息(1,431)
Bank borowings raised所筹集银行借贷7,000
Government subsidies received已收政府补贴–
NET CASH USED IN FINANCING
ACTIVITIES
融资活动所用现金净额
(12,597)
NET INCREASE IN CASH AND CASH
EQUIVALENTS
现金及现金等价物增加净额
1,426
CASH AND CASH EQUIVALENTS
AT 1 APRIL
于四月一日的现金及现金等价物
32,734
CASH AND CASH EQUIVALENTS
AT 31 MARCH
于三月三十一日的现金及
现金等价物34,160
Represented by:即：
Cash and cash equivalents现金及现金等价物34,160
Bank overdrafts银行透支–
34,160
126Vico International Holdings Limited Anual Report 2024/2025
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
FOR THE YEAR ENDED 31 MARCH 2025 截至二零二五年三月三十一日止年度
1. 一般资料
域高国际控股有限公司（「本公司」）于二零
一七年三月二十四日根据开曼群岛法律第
22章公司法（一九六一年第3号法律，经
综合及修订）在开曼群岛注册成立为一间
获豁免有限公司，其股份已于二零一八
年三月五日在香港联合交易所有限公司
（「联交所」）主板上市。本公司直接及最终
控股公司为骏朗控股有限公司（「骏朗」），
其为一间于英属维尔京群岛（「英属维尔京
群岛」）注册成立的有限公司。最终控股方
为许先生、许先生配偶汤敏华女士（「汤女
士」）及许先生与汤女士儿子许业豪先生
（「许业豪先生」）（「控股东」）。本公司注
册办事处及主要营业地点的地址分别为
Vistra (Cayman) Limited, P.O. Box 31119
Grand Pavilion, Hibiscus Way, 802 West
Bay Road, Grand Cayman, KY1–1205,
Cayman Islands及香港长沙湾长裕街10号
亿京广场二期11楼D室。
本公司为一间投资控股公司。本公司及其
附属公司（以下统称「本集团」）主要从事销
售柴油、润滑油和其他产品以及提供车队
咭服务。
综合财务报表以本公司的功能货币港元
（「港元」）呈列。
1. GENERAL INFORMATION
Vico International Holdings Limited (the “Company”)
was incorporated in the Cayman Islands as an
exempted company with limited liability on 24 March
2017 under the Companies Law, Cap. 22 (Law 3 of
1961, as consolidated and revised) of the Cayman
Islands and its shares have ben listed on the Main
Board of The Stock Exchange of Hong Kong Limited (the
“Stock Exchange”) on 5 March 2018. The Company’s
imediate and ultimate holding company is Max
Fortune Holdings Limited (“Max Fortune”), a company
incorporated in the British Virgin Islands (the “BVI”) with
limited liability. The ultimate controling parties are Mr.
Hui, Ms. Tong Man Wah (“Ms. Tong”), spouse of Mr.
Hui and Mr. Hui Yip Ho, Eric (“Mr. Eric Hui”), son of Mr.
Hui and Ms. Tong (the “Controling Shareholders”).
The adres of the Company’s registered ofice and the
principal place of busines are Vistra (Cayman) Limited,
P.O. Box 31119 Grand Pavilion, Hibiscus Way, 802
West Bay Road, Grand Cayman, KY1-1205, Cayman
Islands and Unit D, 11/F, Bilion Plaza I, No. 10 Cheung
Yue Stret, Cheung Sha Wan, Hong Kong, respectively.
The Company is an investment holding company. The
Company and its subsidiaries (colectively refered to as
the “Group”) are principaly engaged in sales of diesel,
lubricant oil and others and provision of flet cards
service.
The consolidated financial statements are presented in
Hong Kong dolars (“HK$”), which is the same as the
functional curency of the Company.
1272024/2025年报 域高国际控股有限公司
FOR THE YEAR ENDED 31 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. 应用新订香港财务报告准则会计准则
（「香港财务报告准则」）及其修订本
于本年度强制生效的香港财务报告准则（修
订本）
于本年度，本集团已就编制综合财务报表
首次应用下列由香港会计师公会（「香港会
计师公会」）颁布于本集团于二零二四年四
月一日开始的年度期间强制生效的香港财
务报告准则（修订本）：
除下文所述者外，于本年度应用香港财务
报告准则（修订本）对本集团当期及过往年
度的财务状况及表现及╱或该等综合财务
报表所载的披露并无重大影响。
2. APLICATION OF NEW AND AMENDMENTS
TO HKFRS ACOUNTING STANDARDS
(“HKFRSs”)
Amendments to HKFRSs that are mandatorily
efective for the curent year
In the curent year, the Group has aplied the folowing
amendments to HKFRSs isued by the Hong Kong
Institute of Certified Public Acountants (“HKICPA”)
for the first time, which are mandatorily efective for the
Group’s anual period begining on 1 April 2024 for the
preparation of the consolidated financial statements:
Amendments to HKFRS 16Lease Liability in a Sale and Leaseback
香港财务报告准则第16号（修订本）售后租回之租赁负债
Amendments to HKAS 1Clasification of Liabilities as Curent or Non-curent
and related amendments to Hong Kong
Interpretation 5 (2020)
香港会计准则第1号（修订本）负债分类为流动或非流动及香港诠释第5号（二零二零年）之
相关修订
Amendments to HKAS 1Non-curent Liabilities with Covenants
香港会计准则第1号（修订本）附带契诺之非流动负债
Amendments to HKAS 7 and HKFRS 7Suplier Finance Arangements
香港会计准则第7号及香港财务报告准则第7号
（修订本）
供应商融资安排
Except as described below, the aplication of the
amendments to HKFRSs in the curent year has had no
material impact on the Group’s financial positions and
performance for the curent and prior years and/or on
the disclosures set out in these consolidated financial
statements.
128Vico International Holdings Limited Anual Report 2024/2025
FOR THE YEAR ENDED 31 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. 应用新订香港财务报告准则会计准
则（「香港财务报告准则」）及其修订本
（续）
2.1 应用香港会计准则第1号（修订本）
负债分类为流动或非流动及香港诠
释第5号（二零二零年）之相关修订
（「二零二零年修订本」）及香港会计
准则第1号（修订本）附带契诺之非
流动负债（「二零二年修订本」）之
影响
于本年度，本集团已首次应用该等
修订本。
二零二零年修订本就评估将负债分
类为流动或非流动自报告日期起至
少十二个月延迟结算的权利提供澄
清及额外指引，其中：
• 指明负债分类为流动或非流
动应基于报告期末存在的权
利。具体而言，分类不应受
到管理层在12个月内清偿负
债的意图或预期的影响。
• 澄清负债的结算可以是向对
手方转让现金、商品或服
务，或实体自身的权益工
具。倘负债的条款可由对手
方选择透过转让实体自身的
权益工具进行结算，则仅当
实体应用香港会计准则第32
号金融工具：呈列将选择权
单独确认为权益工具时，该
等条款才不会影响其分类为
流动或非流动。
2. APLICATION OF NEW AND AMENDMENTS
TO HKFRS ACOUNTING STANDARDS
(“HKFRSs”) (CONTINUED)
2.1 Impacts on aplication of Amendments to
HKAS 1 Clasification of Liabilities as Curent
or Non-curent and related amendments to
Hong Kong Interpretation 5 (2020) (the “2020
Amendments”) and Amendments to HKAS 1
Non-curent Liabilities with Covenants (the
“2022 Amendments”)
The Group has aplied the amendments for the
first time in the curent year.
The 2020 Amendments provide clarification and
aditional guidance on the asesment of right
to defer setlement for at least twelve months
from reporting date for clasification of liabilities
as curent or non-curent, which:
• specify that the clasification of liabilities
as curent or non-curent should be based
on rights that are in existence at the end
of the reporting period. Specificaly, the
clasification should not be afected by
management intentions or expectations to
setle the liability within 12 months.
• clarify that the setlement of a liability can
be a transfer of cash, gods or services,
or the entity’s own equity instruments
to the counterparty. If a liability has
terms that could, at the option of the
counterparty, result in its setlement by
the transfer of the entity’s own equity
instruments, these terms do not afect
its clasification as curent or non-
curent only if the entity recognises the
option separately as an equity instrument
aplying HKAS 32 Financial Instruments:
Presentation.
1292024/2025年报 域高国际控股有限公司
FOR THE YEAR ENDED 31 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. 应用新订香港财务报告准则会计准
则（「香港财务报告准则」）及其修订本
（续）
2.1 应用香港会计准则第1号（修订本）
负债分类为流动或非流动及香港诠
释第5号（二零二零年）之相关修订
（「二零二零年修订本」）及香港会计
准则第1号（修订本）附带契诺之非
流动负债（「二零二年修订本」）之
影响（续）
就以遵守契诺为条件的自报告日期
起至少十二个月延迟结算的权利而
言，二零二年修订本特别澄清，
只有实体须于报告期末或之前遵守
的契诺才会影响实体将负债结算延
迟至报告日期后至少十二个月的权
利，即使仅在报告日期后评估是否
遵守契诺。二零二年修订本亦订
明，实体于报告日期后必须遵守的
契诺（即未来契诺）并不影响负债于
报告日期分类为流动或非流动。然
而，倘实体延迟结算负债的权利须
待实体于报告期后十二个月内遵守
契诺，则实体须披露资料，使财务
报表使用者了解负债须于报告期后
十二个月内偿还的风险。这将包括
以下信息：契诺、相关负债的账面
值以及显示实体可能难以遵守契诺
的事实及情况（如有）。
根据过渡条款，本集团已应用新会
计政策将负债追溯分类为流动或非
流动。于本年度应用该等修订本对
综合财务报表并无重大影响。
2. APLICATION OF NEW AND AMENDMENTS
TO HKFRS ACOUNTING STANDARDS
(“HKFRSs”) (CONTINUED)
2.1 Impacts on aplication of Amendments to
HKAS 1 Clasification of Liabilities as Curent
or Non-curent and related amendments to
Hong Kong Interpretation 5 (2020) (the “2020
Amendments”) and Amendments to HKAS 1
Non-curent Liabilities with Covenants (the
“2022 Amendments”) (Continued)
For rights to defer setlement for at least twelve
months from reporting date which are conditional
on the compliance with covenants, the 2022
Amendments specificaly clarify that only
covenants that an entity is required to comply
with on or before the end of the reporting period
afect the entity’s right to defer setlement of
a liability for at least twelve months after the
reporting date, even if compliance with the
covenant is asesed only after the reporting
date. The 2022 Amendments also specify that
covenants with which an entity must comply after
the reporting date (i.e. future covenants) do not
afect the clasification of a liability as curent
or non-curent at the reporting date. However, if
the entity’s right to defer setlement of a liability
is subject to the entity complying with covenants
within twelve months after the reporting period,
an entity discloses information that enables users
of financial statements to understand the risk of
the liabilities becoming repayable within twelve
months after the reporting period. This would
include information about the covenants, the
carying amount of related liabilities and facts
and circumstances, if any, that indicate that the
entity may have dificulties complying with the
covenants.
In acordance with the transition provision, the
Group has aplied the new acounting policy
to the clasification of liability as curent or non-
curent retrospectively. The aplication of the
amendments in the curent year had no material
impact on the consolidated financial statements.
130Vico International Holdings Limited Anual Report 2024/2025
FOR THE YEAR ENDED 31 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. 应用新订香港财务报告准则会计准
则（「香港财务报告准则」）及其修订本
（续）
已颁布但尚未生效的新订香港财务报告准
则及其修订本
本集团并无提前应用下列已颁布但尚未生
效的新订香港财务报告准则及其修订本：
于待定日期或之后开始之年度期间生效。
于二零二五年一月一日或之后开始之年度期
间生效。
于二零二六年一月一日或之后开始之年度期
间生效。
于二零二七年一月一日或之后开始之年度期
间生效。
2. APLICATION OF NEW AND AMENDMENTS
TO HKFRS ACOUNTING STANDARDS
(“HKFRSs”) (CONTINUED)
New and amendments to HKFRSs in isue but not
yet efective
The Group has not early aplied the folowing new and
amendments to HKFRSs that have ben isued but are
not yet efective:
Amendments to HKFRS 9 and HKFRS 7Amendments to the Clasification and Measurement of
Financial Instruments
香港财务报告准则第9号及
香港财务报告准则第7号（修订本）
金融工具分类及计量之修订
Amendments to HKFRS 10 and HKAS 28Sale or Contribution of Asets betwen an Investor and its
Asociate or Joint Venture
香港财务报告准则第10号及
香港会计准则第28号（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
Amendments to HKFRS Acounting
Standards
Anual Improvements to HKFRS Acounting Standards –
Volume 11
香港财务报告准则会计准则（修订本）香港财务报告准则会计准则年度改进 – 第11卷
Amendments to HKAS 21Lack of Exchangeability
香港会计准则第21号（修订本）缺乏可兑换性
HKFRS 18Presentation and Disclosure in Financial Statements
香港财务报告准则第18号财务报表之呈列及披露
HKFRS 19Subsidiaries without Public Acountability: Disclosures
香港财务报告准则第19号不具公共问责性的附属公司：披露
Efective for anual periods begining on or after a date to be
determined.
Efective for anual periods begining on or after 1 January
2025.
Efective for anual periods begining on or after 1 January
2026.
Efective for anual periods begining on or after 1 January
2027.
1312024/2025年报 域高国际控股有限公司
FOR THE YEAR ENDED 31 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. 应用新订香港财务报告准则会计准
则（「香港财务报告准则」）及其修订本
（续）
已颁布但尚未生效的新订香港财务报告准
则及其修订本（续）
除下文所述新订香港财务报告准则外，本
公司董事预计，应用所有其他新订香港财
务报告准则及其修订本于可预见的未来不
会对综合财务报表产生重大影响。
香港财务报告准则第18号财务报表之呈列
及披露
香港财务报告准则第18号财务报表之呈列
及披露（「香港财务报告准则第18号」）载列
有关财务报表之呈列及披露的规定，将取
代香港会计准则第1号财务报表之呈列（「香
港会计准则第1号」）。此新订香港财务报告
准则会计准则延用香港会计准则第1号各
种规定的同时引入新规定，以于损益表内
呈列特定类别及界定小计；财务报表附注
中披露管理层定义的绩效指标，并改进将
于财务报表中披露信息的汇总和分类。此
外，香港会计准则第1号若干段落已移至
香港会计准则第8号会计政策、会计估计
变动及错误及香港财务报告准则第7号金
融工具：披露。亦对香港会计准则第7号
现金流量表及香港会计准则第33号每股盈
利作出轻微修订。
香港财务报告准则第18号及其他准则之修
订本将于二零二七年一月一日或之后开始
之年度期间生效，允许提前应用。新准则
的应用预计将影响损益表的呈列及日后财
务报表的披露。本集团正在评估香港财务
报告准则第18号对本集团综合财务报表的
详细影响。
2. 应用新订香港财务报告准则会计准
则（「香港财务报告准则」）及其修订本
（续）
已颁布但尚未生效的新订香港财务报告准
则及其修订本
本集团并无提前应用下列已颁布但尚未生
效的新订香港财务报告准则及其修订本：
于待定日期或之后开始之年度期间生效。
于二零二五年一月一日或之后开始之年度期
间生效。
于二零二六年一月一日或之后开始之年度期
间生效。
于二零二七年一月一日或之后开始之年度期
间生效。
2. APLICATION OF NEW AND AMENDMENTS
TO HKFRS ACOUNTING STANDARDS
(“HKFRSs”) (CONTINUED)
New and amendments to HKFRSs in isue but not
yet efective (Continued)
Except for the new HKFRS mentioned below, the
directors of the Company anticipate that the aplication
of al other new and amendments to HKFRSs wil
have no material impact on the consolidated financial
statements in the foreseable future.
HKFRS 18 Presentation and Disclosure in Financial
Statements
HKFRS 18 Presentation and Disclosure in Financial
Statements (“HKFRS 18”), which sets out requirements
on presentation and disclosures in financial statements,
wil replace HKAS 1 Presentation of Financial
Statements (“HKAS 1”). This new HKFRS Acounting
Standard, while carying forward many of the
requirements in HKAS 1, introduces new requirements
to present specified categories and defined subtotals
in the statement of profit or los; provide disclosures
on management-defined performance measures in
the notes to the financial statements and improve
agregation and disagregation of information to be
disclosed in the financial statements. In adition, some
HKAS 1 paragraphs have ben moved to HKAS 8
Acounting Policies, Changes in Acounting Estimates
and Erors and HKFRS 7 Financial Instruments:
Disclosures. Minor amendments to HKAS 7 Statement
of Cash Flows and HKAS 33 Earnings per Share are
also made.
HKFRS 18, and amendments to other standards, wil
be efective for anual periods begining on or after
1 January 2027, with early aplication permited. The
aplication of the new standard is expected to afect
the presentation of the statement of profit or los and
disclosures in the future financial statements. The Group
is in the proces of asesing the detailed impact
of HKFRS 18 on the Group’s consolidated financial
statements.
132Vico International Holdings Limited Anual Report 2024/2025
FOR THE YEAR ENDED 31 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. 编制综合财务报表的基准及重大会计
政策资料
3.1 编制综合财务报表的基准
综合财务报表乃根据香港会计师公
会颁布的香港财务报告准则编制。
此外，综合财务报表包括联交所证
券上市规则（「上市规则」）及香港公
司条例规定之适用披露。
综合财务报表根据历史成本基准编
制。
历史成本一般根据为交换商品及服
务而提供之代价公平值计算。
公平值为于计量日期市场参与者之
间按有序交易出售一项资产将收取
之价格或转让负债时将支付之价
格，而不论该价格是否可直接观察
或使用另一项估值方法估计。公平
值计量之详情于下文所载会计政策
中阐述。
3. BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION
3.1 Basis of preparation of consolidated financial
statements
The consolidated financial statements have ben
prepared in acordance with HKFRSs isued
by the HKICPA. In adition, the consolidated
financial statements include aplicable
disclosures required by the Rules Governing
the Listing of Securities on the Stock Exchange
(“Listing Rules”) and by the Hong Kong
Companies Ordinance.
The consolidated financial statements have ben
prepared on the historical cost basis.
Historical cost is generaly based on fair value of
the consideration given in exchange for gods
and services.
Fair value is the price that would be received to
sel an aset or paid to transfer a liability in an
orderly transaction betwen market participants
at the measurement date regardles of whether
that price is directly observable or estimated
using another valuation technique. Details of
fair value measurement are explained in the
acounting policies set out below.
1332024/2025年报 域高国际控股有限公司
FOR THE YEAR ENDED 31 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. 编制综合财务报表的基准及重大会计
政策资料（续）
3.2 重大会计政策资料
综合基准
综合财务报表包括本公司以及本公
司及其附属公司控制的实体的财务
报表。本公司在下列情况下拥有控
制权：
- ；
• 对来自参与投资对象业务的
可变回报承担风险或享有权
利；及
• 有能力以其权力影响其回
报。
倘有事实及情况显示上述该等控制
因素中有一项或多项出现变化，本
集团将重新评估其是否对投资对象
拥有控制权。
附属公司的综合入账于本集团取得
有关附属公司的控制权起开始，并
于本集团失去有关附属公司的控制
权时终止。具体而言，年内收购或
出售的附属公司的收入及开支乃自
本集团取得控制权的日期起计入综
合损益及其他全面收益表，直至本
集团不再控制有关附属公司的日期
为止。
3. BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION
(CONTINUED)
3.2 Material acounting policy information
Basis of consolidation
The consolidated financial statements
incorporate the financial statements of the
Company and entities controled by the Company
and its subsidiaries. Control is achieved when
the company:
- ;
- , or has rights, to variable
returns from its involvement with the
investe; and
• has the ability to use its power to afect its
returns.
The Group reaseses whether or not it controls
an investe if facts and circumstances indicate
that there are changes to one or more of these
elements of control stated above.
Consolidation of a subsidiary begins when the
Group obtains control over the subsidiary and
ceases when the Group loses control of the
subsidiary. Specificaly, income and expenses of
a subsidiary acquired or disposed of during the
year are included in the consolidated statement
of profit or los and other comprehensive income
from the date the Group gains control until the
date when the Group ceases to control the
subsidiary.
134Vico International Holdings Limited Anual Report 2024/2025
FOR THE YEAR ENDED 31 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. 编制综合财务报表的基准及重大会计
政策资料（续）
3.2 重大会计政策资料（续）
综合基准（续）
损益及其他全面收益各项目属于本
公司拥有人及非控股权益。附属公
司全面收益总额属于本公司拥有人
及非控股权益，即使此举会导致非
控股权益产生亏绌结余。
倘有需要，附属公司之财务报表将
予调整，以使其会计政策与本集团
所用之会计政策一致。
有关本集团成员公司之间交易的所
有集团内公司间的资产及负债、股
权、收入及支出以及现金流量于综
合入账时悉数对销。
3. BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION
(CONTINUED)
3.2 Material acounting policy information
(Continued)
Basis of consolidation (Continued)
Profit or los and each item of other
comprehensive income are atributed to
the owners of the Company and to the non-
controling interests. Total comprehensive
income of subsidiaries is atributed to the owners
of the Company and to the non-controling
interests even if this results in the non-controling
interests having a deficit balance.
When necesary, adjustments are made to the
financial statements of subsidiaries to bring
their acounting policies in line with the Group’s
acounting policies.
Al intragroup asets and liabilities, equity,
income, expenses and cash flows relating to
transactions betwen members of the Group are
eliminated in ful on consolidation.
1352024/2025年报 域高国际控股有限公司
FOR THE YEAR ENDED 31 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. 编制综合财务报表的基准及重大会计
政策资料（续）
3.2 重大会计政策资料（续）
客户合约之收益
收益确认以说明向客户转让承诺货
品或服务，该金额反映该实体预期
就交换该等货品或服务可获得之代
价。具体而言，本集团采用五个步
骤确认收益：
- ：识别与客户之合约
- ：识别合约之履约责
任
- ：厘定交易价
- ：将交易价分配至合
约之履约责任
- ：于实体完成履约责
任时（或就此）确认收益
本集团于完成履约责任时（或就此）
确认收益，即于特定履约责任相关
的货品或服务的「控制权」转让予客
户时。
履约责任指一项明确货品或服务
（或一批货品或服务）或一系列大致
相同的明确货品或服务。
3. BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION
(CONTINUED)
3.2 Material acounting policy information
(Continued)
Revenue from contracts with customers
Revenue is recognised to depict the transfer of
promised gods or services to customers in an
amount that reflects the consideration to which
the entity expects to be entitled in exchange for
those gods or services. Specificaly, the Group
uses a 5-step aproach to revenue recognition:
- : Identify the contract(s) with a
customer
- : Identify the performance
obligations in the contract
- : Determine the transaction price
- : Alocate the transaction price
to the performance obligations in the
contract
- : Recognise revenue when (or
as) the entity satisfies a performance
obligation
The Group recognised revenue when (or as) a
performance obligation is satisfied, i.e. when
“control” of the gods or services underlying the
particular performance obligation is transfered
to customers.
A performance obligation represents a god or
service (or a bundle of gods or services) that is
distinct or a series of distinct gods or services
that are substantialy same.
136Vico International Holdings Limited Anual Report 2024/2025
FOR THE YEAR ENDED 31 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. 编制综合财务报表的基准及重大会计
政策资料（续）
3.2 重大会计政策资料（续）
客户合约之收益（续）
倘符合以下其中一项条件，则控制
权为随时间转移，而收益则参考相
关履约责任的完成进度随时间确
认：
• 客户于本集团履约时同时收
取及消耗本集团履约所提供
的利益；
- ，本集
团履约增设及加强客户控制
的资产；或
• 本集团的履约并无增设对本
集团具有替代用途的资产，
而本集团对迄今已完成履约
的付款拥有强制执行权。
否则，收益于客户获得明确货品或
服务的控制权时在某一时点确认。
收益根据与客户的合约规定的代价
计量，不包括代表第三方收取的金
额及折扣。
3. BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION
(CONTINUED)
3.2 Material acounting policy information
(Continued)
Revenue from contracts with customers
(Continued)
Control is transfered over time and revenue
is recognised over time by reference to the
progres towards complete satisfaction of the
relevant performance obligation if one of the
folowing criteria is met:
• The customer simultaneously receives
and consumes the benefits provided by
the Group’s performance as the Group
performs;
- ’s performance creates and
enhances an aset that the customer
controls as the aset is created and
enhanced; or
- ’s performance does not create
an aset with an alternative use to the
Group and the Group has an enforceable
right to payment for performance
completed to date.
Otherwise, revenue is recognised at a point in
time when the customer obtains control of the
distinct gods or services.
Revenue is measured based on the consideration
specified in a contract with a customer, excludes
amounts colected on behalf of third parties and
discounts.
1372024/2025年报 域高国际控股有限公司
FOR THE YEAR ENDED 31 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. 编制综合财务报表的基准及重大会计
政策资料（续）
3.2 重大会计政策资料（续）
客户合约之收益（续）
主事人与代理人
倘向客户提供货品或服务涉及另一
方，本集团会厘定其承诺性质是否
为其本身提供指定货品或服务的履
约责任（即本集团为主事人），抑或
是安排另一方提供该等货品或服务
（即本集团为代理人）。
倘本集团于向客户转移指定货品或
服务前控制该货品或服务，则为主
事人。
倘本集团的履约责任为安排另一方
提供指定货品或服务，则为代理
人。在这一情况下，本集团于指定
货品或服务转让予客户之前，不控
制由另一方提供的该商品或服务。
倘本集团作为代理人行事，其所确
认收益的金额为就另一方提供指定
货品或服务作为交换预期应收取的
任何费用或佣金。
本集团自(i)销售柴油；(i)提供车队
咭服务；(i)销售润滑油及(iv)销售
其他产品确认收益。
3. BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION
(CONTINUED)
3.2 Material acounting policy information
(Continued)
Revenue from contracts with customers
(Continued)
Principal versus agent
When another party is involved in providing
gods or services to a customer, the Group
determines whether the nature of its promise
is a performance obligation to provide the
specified gods or services itself (i.e. the Group
is a principal) or to arange for those gods or
services to be provided by the other party (i.e.
the Group is an agent).
The Group is a principal if it controls the
specified god or service before that god or
service is transfered to a customer.
The Group is an agent if its performance
obligation is to arange for the provision of the
specified god or service by another party.
In this case, the Group does not control the
specified god or service provided by another
party before that god or service is transfered to
the customer. When the Group acts as an agent,
it recognises revenue in the amount of any fe or
comision to which it expects to be entitled in
exchange for specified gods or services to be
provided by the other party.
The Group recognises revenue from (i) sales of
diesel; (i) provision of flet cards service; (i)
sales of lubricant oil and (iv) sales of others.
138Vico International Holdings Limited Anual Report 2024/2025
FOR THE YEAR ENDED 31 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. 编制综合财务报表的基准及重大会计
政策资料（续）
3.2 重大会计政策资料（续）
客户合约之收益（续）
销售柴油、润滑油及其他产品
销售柴油、润滑油及其他产品的收
益于货品交付予客户指定地点及获
客户接受时确认，即客户有能力指
示产品用途及取得产品其余大部分
利益时。
提供车队咭服务
提供车队咭服务收益在车队咭持有
人向石油供应商购买石油时按净额
基准根据已收及应收车队咭持有人
所得款项总额与已付及应付石油供
应商总额的差额确认。
租赁
本集团根据香港财务报告准则第16
号项下的定义，于合约开始时评估
合约是否为或包含一项租赁。除非
合约条款及条件随后发生变动，否
则不会对该合约进行重新评估。
3. BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION
(CONTINUED)
3.2 Material acounting policy information
(Continued)
Revenue from contracts with customers
(Continued)
Sales of diesel, lubricant oil and others
Revenue from sales of diesel, lubricant oil and
others are recognised when gods are delivered
to location specified by the customers and
acepted by the customers, which is the point of
time the customer has the ability to direct the use
of the products and obtain substantialy al of the
remaining benefits of the products.
Provision of flet cards service
Revenue from provision of flet cards service is
recognised on a net basis, based on diference
betwen gros proceds received and
receivables from flet card holders and gros
amounts paid and payable to petroleum suplier,
when flet card holders purchase petroleum
from a petroleum suplier.
Leases
The Group aseses whether a contract is or
contains a lease based on the definition under
HKFRS 16 at inception of the contract. Such
contract wil not be reasesed unles the terms
and conditions of the contract are subsequently
changed.
1392024/2025年报 域高国际控股有限公司
FOR THE YEAR ENDED 31 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. 编制综合财务报表的基准及重大会计
政策资料（续）
3.2 重大会计政策资料（续）
租赁（续）
本集团作为承租人
分配代价至合约的组成部分
就包含一项租赁组成部分及一项或
以上额外租赁或非租赁组成部分之
合约而言，本集团以租赁组成部分
之相对独立价格及非租赁组成部分
之汇总独立价格为基准将合约代价
分配至各租赁组成部分。
短期租赁及低价值资产租赁
本集团将短期租赁确认豁免应用于
租期自开始日期起为12个月或以下
的租赁，且并不包括购买选择权。
其亦对低价值资产（例如平板电脑
及个人电脑、小型办公室家具及电
话）租赁应用确认豁免。短期租赁
及低价值资产租赁之租赁付款于租
期内按直线法或另一有系统基准确
认为开支。
3. BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION
(CONTINUED)
3.2 Material acounting policy information
(Continued)
Leases (Continued)
The Group as a lese
Alocation of consideration to components of a
contract
For a contract that contains a lease component
and one or more aditional lease or non-
lease components, the Group alocates the
consideration in the contract to each lease
component on the basis of the relative stand-
alone price of the lease component and the
agregate stand-alone price of the non-lease
components.
Short-term leases and leases of low-value asets
The Group aplies the short-term lease
recognition exemption to leases that have
a lease term of 12 months or les from the
comencement date and do not contain a
purchase option. It also aplies the recognition
exemption for lease of low-value asets (such as
tablets and personal computers, smal items of
ofice furniture and telephones). Lease payments
on short-term leases and leases of low-value
asets are recognised as expense on a straight-
line basis or another systematic basis over the
lease term.
140Vico International Holdings Limited Anual Report 2024/2025
FOR THE YEAR ENDED 31 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. 编制综合财务报表的基准及重大会计
政策资料（续）
3.2 重大会计政策资料（续）
租赁（续）
本集团作为承租人（续）
使用权资产
使用权资产成本包括：
- ；
• 于开始日期或之前所作的任
何租赁付款，减去所得的任
何租赁优惠；
• 本集团产生的任何初始直接
成本；及
• 本集团拆卸及清拆相关资
产、恢复原址地盘或恢复相
关资产至租赁条款及条件规
定的状态而将产生的估计成
本。
使用权资产按成本计量，减去任何
累计折旧及减值亏损，并就租赁负
债之任何重新计量予以调整。
本集团可于租赁期末合理确定取得
相关租赁资产拥有权的使用权资产
自可使用年期开始日期至结束期间
予以折旧。否则，使用权资产则于
估计可使用年期及租赁期（以较短
者为准）按直线法折旧。
3. BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION
(CONTINUED)
3.2 Material acounting policy information
(Continued)
Leases (Continued)
The Group as a lese (Continued)
Right-of-use asets
The cost of right-of-use aset includes:
• the amount of the initial measurement of
the lease liability;
• any lease payments made at or before
the comencement date, les any lease
incentives received;
• any initial direct costs incured by the
Group; and
• an estimate of costs to be incured by
the Group in dismantling and removing
the underlying asets, restoring the site
on which it is located or restoring the
underlying aset to the condition required
by the terms and conditions of the lease.
Right-of-use asets are measured at cost, les
any acumulated depreciation and impairment
loses, and adjusted for any remeasurement of
lease liabilities.
Right-of-use asets in which the Group is
reasonably certain to obtain ownership of the
underlying leased asets at the end of the lease
term are depreciated from comencement date
to the end of the useful life. Otherwise, right-of-
use asets are depreciated on a straight-line
basis over the shorter of its estimated useful life
and the lease term.
1412024/2025年报 域高国际控股有限公司
FOR THE YEAR ENDED 31 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. 编制综合财务报表的基准及重大会计
政策资料（续）
3.2 重大会计政策资料（续）
租赁（续）
本集团作为承租人（续）
使用权资产（续）
本集团于综合财务状况表内将使用
权资产作为单独项目呈列。
可退回租赁按金
已付可退回租赁按金乃根据金融工
具（「香港财务报告准则第9号」）入
账，并初步按公平值计量。对初始
确认时的公平值的调整被视为额外
租赁付款，并计入使用权资产的成
本。
租赁负债
于租赁开始日期，本集团按该日未
支付之租赁付款之现值确认及计量
租赁负债。计算租赁付款之现值
时，倘租赁的内含利率无法轻易厘
定，则本集团会利用与租赁开始日
期之递增借款利率。
3. BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION
(CONTINUED)
3.2 Material acounting policy information
(Continued)
Leases (Continued)
The Group as a lese (Continued)
Right-of-use asets (Continued)
The Group presents right-of-use asets as a
separate line item in the consolidated statement
of financial position.
Refundable rental deposits
Refundable rental deposits paid are acounted
under Financial Instruments (“HKFRS 9”) and
initialy measured at fair value. Adjustments to
fair value at initial recognition are considered as
aditional lease payments and included in the
cost of right-of-use asets.
Lease liabilities
At the comencement date of a lease, the Group
recognises and measures the lease liability at the
present value of lease payments that are unpaid
at that date. In calculating the present value of
lease payments, the Group uses the incremental
borowing rate at the lease comencement
date if the interest rate implicit in the lease is not
readily determinable.
142Vico International Holdings Limited Anual Report 2024/2025
FOR THE YEAR ENDED 31 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. 编制综合财务报表的基准及重大会计
政策资料（续）
3.2 重大会计政策资料（续）
租赁（续）
本集团作为承租人（续）
租赁负债（续）
租赁付款包括：
- （包括实质固定款
项）减任何应收租赁优惠；
• 于开始日期按某指数或利率
初始计量并依据该指数或利
率而定之可变租赁付款；
• 预期本集团根据剩余价值担
保应付之金额；
- （倘本
集团合理确定行使该选择
权）；及
- （倘租赁期
反映本集团行使选择权终止
租赁）。
开始日期后，租赁负债乃透过利息
增长及租赁付款调整。
3. BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION
(CONTINUED)
3.2 Material acounting policy information
(Continued)
Leases (Continued)
The Group as a lese (Continued)
Lease liabilities (Continued)
The lease payments include:
• fixed payments (including in-substance
fixed payments) les any lease incentives
receivable;
• variable lease payments that depend on
an index or a rate, initialy measured using
the index or rate as at the comencement
date;
• amounts expected to be payable by the
Group under residual value guarantes;
• the exercise price of a purchase option
if the Group is reasonably certain to
exercise the options; and
• payments of penalties for terminating a
lease, if the lease term reflects the Group
exercising an option to terminate the
lease.
After the comencement date, lease liabilities
are adjusted by interest acretion and lease
payments.
1432024/2025年报 域高国际控股有限公司
FOR THE YEAR ENDED 31 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. 编制综合财务报表的基准及重大会计
政策资料（续）
3.2 重大会计政策资料（续）
租赁（续）
本集团作为承租人（续）
租赁负债（续）
倘出现以下情况，本集团会重新计
量租赁负债（并对相关使用权资产
作出相应调整）：
• 租赁期有所变动或行使购买
选择权的评估发生变化，在
此情况下，相关租赁负债透
过使用重新评估日期的经修
订贴现率贴现经修订租赁付
款而重新计量。
• 租赁付款因担保剩余价值项
下预期付款变动而变动，在
此情况下，相关租赁负债透
过使用初始贴现率贴现经修
订租赁付款而重新计量。
• 租赁合约已修改且租赁修改
不作为一项单独租赁入账
（见下文「租赁修订」的会计
政策）。
本集团于综合财务状况表内将租赁
负债作为单独项目呈列。
3. BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION
(CONTINUED)
3.2 Material acounting policy information
(Continued)
Leases (Continued)
The Group as a lese (Continued)
Lease liabilities (Continued)
The Group remeasures lease liabilities (and
makes a coresponding adjustment to the related
right-of-use asets) whenever:
• the lease term has changed or there is
a change in the asesment of exercise
of a purchase option, in which case the
related lease liability is remeasured by
discounting the revised lease payments
using a revised discount rate at the date
of reasesment.
• the lease payments change due to
changes in expected payment under a
guaranted residual value, in which cases
the related lease liability is remeasured by
discounting the revised lease payments
using the initial discount rate.
• a lease contract is modified and the
lease modification is not acounted
for as a separate lease (se below
for the acounting policy for “lease
modifications”).
The Group presents lease liabilities as a
separate line item on the consolidated statement
of financial position.
144Vico International Holdings Limited Anual Report 2024/2025
FOR THE YEAR ENDED 31 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. 编制综合财务报表的基准及重大会计
政策资料（续）
3.2 重大会计政策资料（续）
租赁（续）
本集团作为承租人（续）
租赁修订
倘出现以下情况，本集团将租赁修
订作为一项单独租赁入账：
• 该修订通过增加一项或多项
相关资产的使用权利而扩大
了租赁范围；及
• 租赁代价增加的金额相当于
扩大范围对应的单独价格，
加上以反映特定合约的情况
对单独价格进行的任何适当
调整。
对于不作为一项单独租赁入账的租
赁修订，本集团根据经修订租赁的
租赁期重新计量租赁负债，在修订
生效日采用经修订贴现率对经修订
租赁付款进行贴现。
本集团透过对相关使用权资产进行
相应调整将租赁负债的重新计量入
账。
3. BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION
(CONTINUED)
3.2 Material acounting policy information
(Continued)
Leases (Continued)
The Group as a lese (Continued)
Lease modifications
The Group acounts for a lease modification as
a separate lease if:
• the modification increases the scope of
the lease by ading the right to use one
or more underlying asets; and
• the consideration for the lease increases
by an amount comensurate with the
stand-alone price for the increase in
scope and any apropriate adjustments
to that stand-alone price to reflect the
circumstances of the particular contract.
For a lease modification that is not acounted
for a separate lease, the Group remeasures the
lease liability based on the lease term of the
modified lease by discounting the revised lease
payments using a revised discount rate at the
efective date of the modification.
The Group acounts for the remeasurement
of lease liabilities by making coresponding
adjustments to the relevant right-of-use aset.
1452024/2025年报 域高国际控股有限公司
FOR THE YEAR ENDED 31 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. 编制综合财务报表的基准及重大会计
政策资料（续）
3.2 重大会计政策资料（续）
租赁（续）
本集团作为出租人
分类及计量租赁
本集团作为出租人之租赁分类为融
资或经营租赁。每当租赁条款将与
相关资产拥有权相关之绝大部分风
险及回报转移至承租人时，该合约
分类为融资租赁。所有其他租赁分
类为经营租赁。
经营租赁之租金收入于相关租赁之
期限内按直线法于损益确认。磋商
及安排经营租赁产生之初始直接成
本加入该租赁资产之账面值中，且
有关成本于租赁期内按直线法确认
为开支，惟根据公平值模式计量之
投资物业除外。
3. BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION
(CONTINUED)
3.2 Material acounting policy information
(Continued)
Leases (Continued)
The Group as lesor
Clasification and measurement of leases
Leases for which the Group is a lesor are
clasified as finance or operating leases.
Whenever the terms of the lease transfer
substantialy al the risks and rewards incidental
to ownership of an underlying aset to the
lese, the contract is clasified as a finance
lease. Al other leases are clasified as operating
leases.
Rental income from operating leases is
recognised in profit or los on a straight-
line basis over the term of the relevant lease.
Initial direct costs incured in negotiating and
aranging an operating lease are aded to
the carying amount of the leased aset, and
such costs are recognised as an expense on a
straight-line basis over the lease term except for
investment properties measured under fair value
model.
146Vico International Holdings Limited Anual Report 2024/2025
FOR THE YEAR ENDED 31 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. 编制综合财务报表的基准及重大会计
政策资料（续）
3.2 重大会计政策资料（续）
租赁（续）
本集团作为出租人（续）
分配代价至合约的组成部分
当合约包括租赁及非租赁组成部分
时，本集团应用香港财务报告准则
第15号客户合约之收益（「香港财务
报告准则第15号」）以将合约代价分
配至租赁及非租赁部分。非租赁部
分乃根据其相对独立售价独立于租
赁部分。
可退回租赁按金
已收取的可退回租赁按金乃根据香
港财务报告准则第9号入账，并初
步按公平值计量。于初始确认时对
公平值的调整被视为来自承租人的
额外租赁款项。
租赁修订
不属于原始条款和条件的租赁合约
代价的变动作为租赁修订入账，包
括通过宽免或减少租金提供的租赁
优惠。
经营租赁
由修订生效日期起，本集团将经营
租赁的修订列作新租赁入账，当中
将与原有租赁相关的任何预付或应
计租赁付款，视作新租赁的部分租
赁付款。
3. BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION
(CONTINUED)
3.2 Material acounting policy information
(Continued)
Leases (Continued)
The Group as lesor (Continued)
Alocation of consideration to components of a
contract
When a contract includes both leases and non-
lease components, the Group aplies HKFRS
15 Revenue from Contracts with Customers
(“HKFRS 15”) to alocate consideration in a
contract to lease and non-lease components.
Non-lease components are separated from lease
component on the basis of their relative stand-
alone seling prices.
Refundable rental deposits
Refundable rental deposits received are
acounted for under HKFRS 9 and initialy
measured at fair value. Adjustments to fair value
at initial recognition are considered as aditional
lease payments from leses.
Lease modification
Changes in considerations of lease contracts that
were not part of the original terms and conditions
are acounted for as lease modifications,
including lease incentives provided through
forgivenes or reduction of rentals.
Operating leases
The Group acounts for a modification to an
operating lease as a new lease from the efective
date of the modification, considering any
prepaid or acrued lease payments relating to
the original lease as part of the lease payments
for the new lease.
1472024/2025年报 域高国际控股有限公司
FOR THE YEAR ENDED 31 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. 编制综合财务报表的基准及重大会计
政策资料（续）
3.2 重大会计政策资料（续）
租赁土地及楼宇
倘租赁同时包含土地及楼宇部分，
则本集团会分别依照有关各部分拥
有权随附的绝大部分风险及回报是
否已转移至本集团的评估，评估
各部分的分类（作为融资或经营租
赁），除非两个部分被清楚确定为
经营租赁，于此情况下，整个租赁
分类为经营租赁。具体而言，最低
租赁款项（包括任何一笔过支付的
预付款项）会按租赁开始时土地部
分与楼宇部分租赁权益的相关公平
值的比例，于土地与楼宇部分之间
分配。
倘租赁款项能可靠分配，入账为经
营租赁的租赁土地的权益乃于综合
财务状况表呈列为「使用权资产」，
并于租赁期内按直线法摊销。倘租
赁款项不能于土地及楼宇部分之间
可靠分配，则整个租赁一般会分类
为融资租赁及入账列为物业、厂房
及设备。
3. BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION
(CONTINUED)
3.2 Material acounting policy information
(Continued)
Leasehold land and building
When a lease includes both land and building
elements, the Group aseses the clasification
of each element as a finance or an operating
lease separately based on the asesment as to
whether substantialy al the risks and rewards
incidental to ownership of each element have
ben transfered to the Group, unles it is clear
that both elements are operating leases in which
case the entire lease is clasified as an operating
lease. Specificaly, the minimum lease payments
(including any lump-sum upfront payments) are
alocated betwen the land and the building
elements in proportion to the relative fair values
of the leasehold interests in the land element and
building element of the lease at the inception of
the lease.
To the extent the alocation of the lease payments
can be made reliably, interest in leasehold land
that is acounted for as an operating lease
is presented as “right-of-use asets” in the
consolidated statement of financial position and
is amortised over the lease term on a straight-
line basis. When the lease payments canot
be alocated reliably betwen the land and
building elements, the entire lease is generaly
clasified as a finance lease and acounted for
as property, plant and equipment.
148Vico International Holdings Limited Anual Report 2024/2025
FOR THE YEAR ENDED 31 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. 编制综合财务报表的基准及重大会计
政策资料（续）
3.2 重大会计政策资料（续）
外币
编制个别集团实体的财务报表时，
以该实体功能货币之外的货币（外
币）进行之交易按于交易日期当前
汇率确认。于报告期末，以外币计
值的货币项目均按报告期末当日的
汇率重新换算。以外币列值并按公
平值入账之非货币项目，按厘定公
平值日期适用之汇率重新换算。以
外币按历史成本计量的非货币项目
则毋须重新换算。
因结算及重新换算货币项目而产生
的汇兑差额均于产生期间在损益内
确认。
借贷成本
借贷成本于其产生期间在损益内确
认。
3. BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION
(CONTINUED)
3.2 Material acounting policy information
(Continued)
Foreign curencies
In preparing the financial statements of each
individual group entity, transactions in curencies
other than the functional curency of that entity
(foreign curencies) are recognised at the
rates of exchanges prevailing on the dates of
the transactions. At the end of the reporting
period, monetary items denominated in foreign
curencies are retranslated at the rates prevailing
at that date. Non-monetary items caried at fair
value that are denominated in foreign curencies
are retranslated at the rates prevailing on the
date when the fair value was determined. Non-
monetary items that are measured in terms
of historical cost in a foreign curency are not
retranslated.
Exchange diferences arising on the setlement
of monetary items, and on the retranslation of
monetary items, are recognised in profit or los
in the period in which they arise.
Borowing costs
Borowing costs are recognised in profit or los
in the period in which they are incured.
1492024/2025年报 域高国际控股有限公司
FOR THE YEAR ENDED 31 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. 编制综合财务报表的基准及重大会计
政策资料（续）
3.2 重大会计政策资料（续）
政府补贴
政府补贴直至可以合理保证本集团
将遵守随附的条件以及将会接获补
贴时才确认。
于本集团确认补贴拟用于补偿的有
关成本为开支的期间内，政府补贴
系统地在损益内确认。具体而言，
以要求本集团购买、建造或另行获
得非流动资产为主要条件的政府补
助于综合财务状况表确认为有关资
产账面值之减幅，并按有系统及合
理的基准于相关资产的可用年期内
转拨至损益。
作为已产生开支或亏损的补偿或为
向本集团提供即时财务资助（并无
日后相关成本）而可收取的收入相
关政府补贴于其成为可收取的期间
内在损益确认。
3. BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION
(CONTINUED)
3.2 Material acounting policy information
(Continued)
Government grants
Government grants are not recognised until
there is reasonable asurance that the Group wil
comply with the conditions ataching to them and
that the grants wil be received.
Government grants are recognised in profit or
los on a systematic basis over the periods in
which the Group recognises as expenses the
related costs for which the grants are intended
to compensate. Specificaly, government grants
whose primary condition is that the Group should
purchase, construct or otherwise acquire non-
curent asets are recognised as a deduction
from the carying amount of the relevant aset in
the consolidated statement of financial position
and transfered to profit or los on a systematic
and rational basis over the useful lives of the
related asets.
Government grants related to income that are
receivable as compensation for expenses or
loses already incured or for the purpose of
giving imediate financial suport to the Group
with no future related costs are recognised in
profit or los in the period in which they become
receivable.
150Vico International Holdings Limited Anual Report 2024/2025
FOR THE YEAR ENDED 31 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. 编制综合财务报表的基准及重大会计
政策资料（续）
3.2 重大会计政策资料（续）
雇员福利
退休福利成本
强制性公积金计划（「强积金计划」）
付款于雇员提供服务使其有权获得
供款时确认为一项开支。
本集团已根据香港《雇佣条例》界定
长期服务金（「长服金」）的退休福利
计划。
若员工提供服务且有权获得供款
时，退休福利计划之定额供款被确
认为开支。对于长服金义务，未来
福利的估计金额乃于扣除由本集团
的强积金供款产生的应计福利所产
生的负服务成本后厘定，而本集团
的强积金供款已归属于雇员，有关
供款被视为相关雇员的供款。
界定福利义务乃根据预计单位信贷
法计算。
3. BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION
(CONTINUED)
3.2 Material acounting policy information
(Continued)
Employe benefits
Retirement benefit costs
Payments to the Mandatory Provident Fund
Scheme (the “MPF Scheme”) are recognised
as an expense when employes have rendered
services entitling them to the contributions.
The Group has the defined retirement benefit
plan of Long Service Payment (“LSP”) under the
Hong Kong Employment Ordinance.
Payments to defined contribution retirement
benefit plan is recognised as an expense when
employes have rendered service entitling them
to the contributions. For LSP obligations, the
estimated amount of future benefit is determined
after deducting the negative service cost
arising from the acrued benefits derived from
the Group’s MPF contributions that have ben
vested with employes, which are demed to be
contributions from the relevant employes.
The calculation of defined benefit obligation is
based on the projected unit credit method.
1512024/2025年报 域高国际控股有限公司
FOR THE YEAR ENDED 31 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. 编制综合财务报表的基准及重大会计
政策资料（续）
3.2 重大会计政策资料（续）
雇员福利（续）
退休福利成本（续）
界定福利计划产生的重新计量，包
括精算损益及任何资产上限的影响
（利息除外），均于其他全面收益中
立即确认。经计及期内界定福利负
债净额的任何变动，本期间利息开
支净额乃透过将于报告期初用于计
量界定福利义务的贴现率应用于当
时的界定福利负债净额厘定。利息
开支净额及与界定福利计划有关的
其他开支均于损益确认。
短期及其他长期雇员福利
短期雇员福利乃按预期于雇员提供
服务时支付之福利之未贴现金额确
认。所有短期雇员福利均确认为开
支，除非另一香港财务报告准则规
定或允许将福利计入资产成本。
负债乃就雇员之福利（如工资及薪
金、年假及病假）在扣除任何已付
金额后确认。
3. BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION
(CONTINUED)
3.2 Material acounting policy information
(Continued)
Employe benefits (Continued)
Retirement benefit costs (Continued)
Remeasurements arising from defined benefit
plans, which comprise actuarial gains and
loses, and the efect of any aset ceiling
(excluding interest), are recognised imediately
in other comprehensive income. Net interest
expense for the period is determined by
aplying the discount rate used to measure the
defined benefit obligation at the begining of the
reporting period to the then net defined benefit
liability, taking into acount any changes in the
net defined benefit liability during the period. Net
interest expense and other expenses related to
defined benefit plans are recognised in profit or
los.
Short-term and other long-term employe
benefits
Short-term employe benefits are recognised
at the undiscounted amount of the benefits
expected to be paid as and when employes
rendered the services. Al short-term employe
benefits are recognised as an expense unles
another HKFRS requires or permits the inclusion
of the benefit in the cost of an aset.
A liability is recognised for benefits acruing to
employes (such as wages and salaries, anual
leave and sick leave) after deducting any amount
already paid.
152Vico International Holdings Limited Anual Report 2024/2025
FOR THE YEAR ENDED 31 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. 编制综合财务报表的基准及重大会计
政策资料（续）
3.2 重大会计政策资料（续）
以股份为基础的付款
以股权结算以股份为基础的付款交易
授予雇员的股份╱购股权
向雇员及其他提供类似服务的人士
作出的以股权结算以股份为基础的
付款乃于授出日期按权益工具的公
平值计量。
以股权结算以股份为基础的付款按
授出日期厘定的公平值（并无计及
所有非市场归属条件），乃根据本
集团对最终将归属的权益工具的估
计，于归属期内以直线法支销，而
权益（以股份为基础的付款储备）会
相应增加。于各报告期末，本集团
基于对所有相关非市场归属条件的
评估修订预期归属的权益工具数目
的估计。修订原先估计的影响（如
有）于综合损益及其他全面收益表
中确认，以便累计开支反映修订估
计，并对以股份为基础的付款储备
作出相应调整。就于授出日期即时
归属的股份╱购股权而言，授出的
股份╱购股权的公平值乃即时于综
合损益及其他全面收益表中支销。
3. BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION
(CONTINUED)
3.2 Material acounting policy information
(Continued)
Share-based payments
Equity-setled share-based payment transactions
Share/Share options granted to employes
Equity-setled share-based payments to
employes and others providing similar services
are measured at the fair value of the equity
instruments at the grant date.
The fair value of the equity-setled share-based
payments determined at the grant date without
taking into consideration al non-market vesting
conditions is expensed on a straight-line basis
over the vesting period, based on the Group’s
estimate of equity instruments that wil eventualy
vest, with a coresponding increase in equity
(share-based payments reserve). At the end
of each reporting period, the Group revises its
estimate of the number of equity instruments
expected to vest based on asesment of al
relevant non-market vesting conditions. The
impact of the revision of the original estimates,
if any, is recognised in statement of profit or
los and other comprehensive income such
that the cumulative expense reflects the revised
estimate, with a coresponding adjustment to the
share-based payments reserve. For shares/share
options that vest imediately at the date of grant,
the fair value of the shares/share options granted
is expensed imediately to the statement of
profit or los and other comprehensive income.
1532024/2025年报 域高国际控股有限公司
FOR THE YEAR ENDED 31 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. 编制综合财务报表的基准及重大会计
政策资料（续）
3.2 重大会计政策资料（续）
以股份为基础的付款（续）
当行使购股权时，先前于以股份为
基础的付款储备确认的数额将转拨
至股份溢价。倘购股权在归属日期
后被没收或于届满日期尚未行使，
先前于以股份为基础的付款储备确
认的数额继续于以股份为基础的付
款储备中持有。
当已授出股份获归属时，先前于以
股份为基础的付款储备确认的数额
将转拨至股本。
授予非雇员的股份╱购股权
与雇员以外之人士进行之以股权结
算以股份为基础的付款交易乃按所
收取货品或服务之公平值计量，惟
倘公平值无法可靠估计，在此情况
下，则按所授出股本工具于实体取
得货品或对方提供服务当日计量之
公平值计量。所收取货品或服务之
公平值确认为开支（除非货品或服
务合资格确认为资产）。
税项
所得税开支指即期与递延所得税开
支之总和。
即期应付税项乃根据年内的应课税
溢利计量。应课税溢利与除税前溢
利不同，原因在于其他年度的应课
税收入或可扣税支出，以及从未课
税或不可扣税的项目。本集团的即
期税项负债以报告期末已颁布或实
质已颁布的税率计算。
3. BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION
(CONTINUED)
3.2 Material acounting policy information
(Continued)
Share-based payments (Continued)
When share options are exercised, the amount
previously recognised in share-based payments
reserve wil be transfered to share premium.
When the share options are forfeited after the
vesting date or are stil not exercised at the
expiry date, the amount previously recognised in
share-based payments reserve wil continue to
be held in share-based payments reserve.
When shares granted are vested, the amount
previously recognised in share-based payments
reserve wil be transfered to share capital.
Shares/Share options granted to non-employes
Equity-setled share-based payment transactions
with parties other than employes are measured
at the fair value of the gods or services
received, except where that fair value canot
be estimated reliably, in which case they
are measured at the fair value of the equity
instruments granted, measured at the date the
entity obtains the gods or the counterparty
renders the service. The fair values of the
gods or services received are recognised as
expenses (unles the gods or services qualify
for recognition as asets)
Taxation
Income tax expense represents the sum of
curent and defered income tax expense.
The tax curently payable is based on taxable
profit for the year. Taxable profit difers from
profit before tax because of income or expense
that are taxable or deductible in other years and
items that are never taxable or deductible. The
Group’s liability for curent tax is calculated using
tax rates that have ben enacted or substantively
enacted by the end of the reporting period.
154Vico International Holdings Limited Anual Report 2024/2025
FOR THE YEAR ENDED 31 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. 编制综合财务报表的基准及重大会计
政策资料（续）
3.2 重大会计政策资料（续）
税项（续）
递延税项根据综合财务报表中资产
及负债账面值与其用于计量应课税
溢利的相应税基之间的暂时差额确
认。递延税项负债一般就所有应
课税暂时差额确认。递延税项资产
一般限于有可能取得应课税溢利以
抵销可扣税暂时差额时就所有可扣
税暂时差额而确认。倘暂时差额来
自不影响应课税溢利或会计溢利的
交易的资产及负债的初步确认（除
业务合并外），并于交易时不会产
生同等应课税及可扣税暂时差额，
则不会确认有关递延税项资产及负
债。
递延税项负债乃就有关附属公司投
资的应课税暂时差额确认，惟本集
团可控制暂时差额的拨回，且暂时
差额在可预见将来有可能不会拨回
则除外。与该等投资有关的可扣税
暂时差额产生的递延税项资产仅于
可能将有充足的应课税溢利以动用
暂时差额的利益，以及预期将于可
预见将来拨回时，方予确认。
3. BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION
(CONTINUED)
3.2 Material acounting policy information
(Continued)
Taxation (Continued)
Defered tax is recognised on temporary
diferences betwen the carying amounts
of asets and liabilities in the consolidated
financial statements and the coresponding
tax bases used in the computation of taxable
profit. Defered tax liabilities are generaly
recognised for al taxable temporary diferences.
Defered tax asets are generaly recognised
for al deductible temporary diferences to the
extent that it is probable that taxable profits wil
be available against which those deductible
temporary diferences can be utilised. Such
defered tax asets and liabilities are not
recognised if the temporary diference arises
from the initial recognition (other than in a
busines combination) of asets and liabilities
in a transaction that afects neither the taxable
profit nor the acounting profit and at the time
of the transaction does not give rise to equal
taxable and deductible temporary diferences.
Defered tax liabilities are recognised for
taxable temporary diferences asociated with
investments in subsidiaries, except where the
Group is able to control the reversal of the
temporary diference and it is probable that
the temporary diference wil not reverse in
the foreseable future. Defered tax asets
arising from deductible temporary diferences
asociated with such investments are only
recognised to the extent that it is probable that
there wil be suficient taxable profits against
which to utilise the benefits of the temporary
diferences and they are expected to reverse in
the foreseable future.
1552024/2025年报 域高国际控股有限公司
FOR THE YEAR ENDED 31 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. 编制综合财务报表的基准及重大会计
政策资料（续）
3.2 重大会计政策资料（续）
税项（续）
递延税项资产账面值于各报告期末
审阅，并调低至将不再可能获得足
够应课税溢利以收回全部或部分该
项资产为止。
递延税项资产及负债乃根据报告期
末已颁布或实质已颁布的税率（及
税法）按清偿负债或变现资产期间
预期应用的税率计量。
递延税项负债及资产的计量反映按
照本集团预期的方式于报告期末收
回或清偿其资产及负债的账面值的
税务后果。
为计量本集团确认使用权资产及相
关租赁负债的租赁交易的递延税
项，本集团首先会厘定使用权资产
或租赁负债是否享有税务减免。
对于因租赁负债而享有税务减免的
租赁交易而言，本集团对使用权资
产及租赁负债分别应用香港会计准
则第12号所得税之规定。
即期及递延税项于损益内确认。
3. BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION
(CONTINUED)
3.2 Material acounting policy information
(Continued)
Taxation (Continued)
The carying amount of defered tax asets is
reviewed at the end of each reporting period
and reduced to the extent that it is no longer
probable that suficient taxable profits wil be
available to alow al or part of the aset to be
recovered.
Defered tax asets and liabilities are measured
at the tax rates that are expected to aply in the
period in which the liability is setled or the aset
is realised, based on the tax rate (and tax laws)
that have ben enacted or substantively enacted
by the end of the reporting period.
The measurement of defered tax liabilities and
asets reflects the tax consequences that would
folow from the maner in which the Group
expects, at the end of the reporting period, to
recover or setle the carying amount of its asets
and liabilities.
For the purpose of measuring defered tax
for leasing transactions in which the Group
recognises the right-of-use asets and the
related lease liabilities, the Group first determines
whether the tax deductions are atributable to the
right-of-use asets or the lease liabilities.
For leasing transactions in which the tax
deductions are atributable to the lease liabilities,
the Group aplies HKAS 12 Income Taxes
requirements to right-of-use asets and lease
liabilities separately.
Curent and defered tax is recognised in profit
or los.
156Vico International Holdings Limited Anual Report 2024/2025
FOR THE YEAR ENDED 31 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. 编制综合财务报表的基准及重大会计
政策资料（续）
3.2 重大会计政策资料（续）
物业、厂房及设备
物业、厂房及设备为持作用于生产
或供应商品或服务或用作行政用途
的有形资产。物业、厂房及设备于
综合财务状况表按成本减其后累计
折旧及其后累计减值亏损（如有）列
账。
折旧采用直线法于其估计可使用年
期以撇销资产成本减去资产的剩余
价值确认。估计可使用年期、剩余
价值及折旧法均于各报告期末检
讨，任何估计变动的影响均按未来
适用基准入账。
物业、厂房及设备项目于出售后或
当预期继续使用该资产不会产生未
来经济利益时终止确认。出售或报
废物业、厂房及设备项目时产生的
任何收益或亏损按出售所得款项与
该资产账面值之间的差额于损益确
认。
3. BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION
(CONTINUED)
3.2 Material acounting policy information
(Continued)
Property, plant and equipment
Property, plant and equipment are tangible
asets that are held for use in the production or
suply of gods or services, or for administrative
purposes. Property, plant and equipment are
stated in the consolidated statement of financial
position at cost les subsequent acumulated
depreciation and subsequent acumulated
impairment loses, if any.
Depreciation is recognised so as to write of the
cost of asets les their residual values over
their estimated useful lives, using the straight-
line method. The estimated useful lives, residual
values and depreciation method are reviewed at
the end of each reporting period, with the efect
of any changes in estimate acounted for on a
prospective basis.
An item of property, plant and equipment is
derecognised upon disposal or when no future
economic benefits are expected to arise from
the continued use of the aset. Any gain or los
arising on the disposal or retirement of an item
of property, plant and equipment is determined
as the diference betwen the sales proceds
and the carying amount of the aset and is
recognised in profit or los.
1572024/2025年报 域高国际控股有限公司
FOR THE YEAR ENDED 31 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. 编制综合财务报表的基准及重大会计
政策资料（续）
3.2 重大会计政策资料（续）
物业、厂房及设备（续）
租赁土地及楼宇的拥有权益
就包含租赁土地及楼宇部分的物业
拥有权益的款项而言，倘有关款
项无法于租赁土地与楼宇部分之间
可靠分配时，整个物业会呈列为本
集团的物业、厂房及设备。
投资物业
投资物业是持有以赚取租金及╱或
资本升值的物业。
自有投资物业按成本（包括任何直
接产生的开支）初步计量。初步确
认后，投资物业按成本减其后累计
折旧及任何累计减值亏损列账。投
资物业的折旧乃以直线法确认，按
其估计可使用年期并经计及其估计
剩余价值后撇销其成本。
3. BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION
(CONTINUED)
3.2 Material acounting policy information
(Continued)
Property, plant and equipment (Continued)
Ownership interests in leasehold land and
buildings
For payments of ownership interest of properties
which includes both leasehold land and building
elements, the entire property is presented as
property, plant and equipment of the Group
when the payments canot be alocated reliably
betwen the leasehold land and building
elements.
Investment properties
Investment properties are properties held to earn
rentals and/or for capital apreciation.
Owned investment properties are initialy
measured at cost, including any directly
atributable expenditure. Subsequent to initial
recognition, investment properties are stated at
cost les subsequent acumulated depreciation
and any acumulated impairment loses.
Depreciation is recognised so as to write of the
cost of investment properties over their estimated
useful lives and after taking into acount of their
estimated residual value, using the straight-line
method.
158Vico International Holdings Limited Anual Report 2024/2025
FOR THE YEAR ENDED 31 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. 编制综合财务报表的基准及重大会计
政策资料（续）
3.2 重大会计政策资料（续）
投资物业（续）
出售投资物业后或当永久弃用投资
物业且预期其出售再无未来经济利
益时终止确认该投资物业。终止确
认该物业产生的任何收益或亏损
（按出售所得款项净额与该资产账
面值之间的差额计算）于终止确认
该物业期间计入损益。
倘物业、厂房及设备之项目于其用
途有变时成为一项投资物业，投资
物业与物业、厂房及设备间之转移
不会改变被转移物业之账面值，亦
不会改变该物业就根据成本模型计
量或披露而言之成本。
3. BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION
(CONTINUED)
3.2 Material acounting policy information
(Continued)
Investment properties (Continued)
An investment property is derecognised upon
disposal or when the investment property
is permanently withdrawn from use and no
future economic benefits are expected from
its disposals. Any gain or los arising on
derecognition of the property (calculated as the
diference betwen the net disposal proceds
and the carying amount of the aset) is included
in the profit or los in the period in which the
property is derecognised.
If an item of property, plant and equipment
becomes an investment property when there is
a change in use, transfers betwen investment
property, and property, plant and equipment do
not change the carying amount of the property
transfered and they do not change the cost
of that property for measurement or disclosure
purposes under cost model.
1592024/2025年报 域高国际控股有限公司
FOR THE YEAR ENDED 31 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. 编制综合财务报表的基准及重大会计
政策资料（续）
3.2 重大会计政策资料（续）
物业、厂房及设备及使用权资产的
减值
本集团于报告期末检讨其物业、厂
房及设备及使用权资产的账面值，
以厘定该等资产有否任何减值亏损
迹象。如有任何有关迹象，则会估
计相关资产的可收回金额，以厘定
减值亏损（如有）的程度。
物业、厂房及设备以及使用权资产
的可收回金额为单独估计。倘无法
单独估计可收回金额，则本集团会
估计该资产所属现金产生单位（「现
金产生单位」）的可收回金额。
在对现金产生单位进行减值测试
时，当可确定合理一致的分配基准
时，则公司资产将分配至相关现金
产生单位，否则其将分配至可确定
合理一致分配基准的最小现金产生
单位组别。可收回金额乃就公司资
产所属的现金产生单位或现金产生
单位组别而厘定，并与相关现金产
生单位或现金产生单位组别的账面
值进行比较。
3. BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION
(CONTINUED)
3.2 Material acounting policy information
(Continued)
Impairment on property, plant and equipment
and right-of-use asets
At the end of the reporting period, the Group
reviews the carying amounts of its property,
plant and equipment and right-of-use asets to
determine whether there is any indication that
those asets have sufered an impairment los.
If any such indication exists, the recoverable
amount of the aset is estimated in order to
determine the extent of the impairment los, if
any.
The recoverable amount of property, plant and
equipment and right-of-use asets are estimated
individualy. When it is not posible to estimate
the recoverable amount individualy, the Group
estimates the recoverable amount of the cash-
generating unit (“CGU”) to which the aset
belongs.
In testing a CGU for impairment, corporate asets
are alocated to the relevant cash-generating
unit when a reasonable and consistent basis of
alocation can be established, or otherwise they
are alocated to the smalest group of CGUs for
which a reasonable and consistent alocation
basis can be established. The recoverable
amount is determined for the CGU or group of
CGUs to which the corporate aset belongs,
and is compared with the carying amount of the
relevant CGU or group of CGUs.
160Vico International Holdings Limited Anual Report 2024/2025
FOR THE YEAR ENDED 31 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. 编制综合财务报表的基准及重大会计
政策资料（续）
3.2 重大会计政策资料（续）
物业、厂房及设备及使用权资产的
减值（续）
可收回金额为公平值减出售成本与
使用价值之间的较高者。于评估使
用价值时，估计未来现金流量会采
用税前贴现率贴现至其现值，以
反映对货币时间价值及资产（或现
金产生单位）（其未来现金流量估计
未经调整）特定风险的现时市场评
估。
倘估计资产（或现金产生单位）的可
收回金额低于其账面值，则资产
（或现金产生单位）账面值将调降至
其可收回金额。就未能按合理一致
的基准分配至现金产生单位的公司
资产或部分公司资产而言，本集团
会比较一组现金产生单位的账面值
（包括已分配至该组现金产生单位
的公司资产或部分公司资产的账面
值）与该组现金产生单位的可收回
金额。于分配减值亏损时，首先分
配减值亏损以减少任何商誉的账面
值（如适用），然后根据该单位或现
金产生单位组别内各资产的账面值
按比例分配至其他资产。资产的账
面值并不减至低于其公平值减出售
成本（如可计量）、使用价值（如可厘
定）及零三者之最高者。已另行分
配至资产的减值亏损金额按比例分
配至该单位或现金产生单位组别的
其他资产。减值亏损即时于损益确
认。
3. BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION
(CONTINUED)
3.2 Material acounting policy information
(Continued)
Impairment on property, plant and equipment
and right-of-use asets (Continued)
Recoverable amount is the higher of fair value
les costs of disposal and value in use. In
asesing value in use, the estimated future
cash flows are discounted to their present value
using a pre-tax discount rate that reflects curent
market asesments of the time value of money
and the risks specific to the aset (or a CGU) for
which the estimates of future cash flows have not
ben adjusted.
If the recoverable amount of an aset (or a
CGU) is estimated to be les than its carying
amount, the carying amount of the aset (or the
CGU) is reduced to its recoverable amount. For
corporate asets or portion of corporate asets
which canot be alocated on a reasonable and
consistent basis to a CGU, the Group compares
the carying amount of a group of CGUs,
including the carying amounts of the corporate
asets or portion of corporate asets alocated
to that group of CGUs, with the recoverable
amount of the group of CGUs. In alocating
the impairment los, the impairment los is
alocated first to reduce the carying amount of
any godwil (if aplicable) and then to the other
asets on a pro-rata basis based on the carying
amount of each aset in the unit or the group of
CGUs. The carying amount of an aset is not
reduced below the highest of its fair value les
costs of disposal (if measurable), its value in use
(if determinable) and zero. The amount of the
impairment los that would otherwise have ben
alocated to the aset is alocated pro rata to the
other asets of the unit or the group of CGUs.
An impairment los is recognised imediately in
profit or los.
1612024/2025年报 域高国际控股有限公司
FOR THE YEAR ENDED 31 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. 编制综合财务报表的基准及重大会计
政策资料（续）
3.2 重大会计政策资料（续）
物业、厂房及设备及使用权资产的
减值（续）
倘减值亏损其后拨回，则有关资产
（或现金产生单位）的账面值会调高
至经修订的估计可收回金额，惟调
高后的账面值不可超过有关资产
（或现金产生单位）于过往年度并无
确认减值亏损时应厘定的账面值。
减值亏损拨回即时于损益确认。
3. BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION
(CONTINUED)
3.2 Material acounting policy information
(Continued)
Impairment on property, plant and equipment
and right-of-use asets (Continued)
Where an impairment los subsequently
reverses, the carying amount of the aset (or
the CGU) is increased to the revised estimate of
its recoverable amount, but so that the increased
carying amount does not exced the carying
amount that would have ben determined had
no impairment los ben recognised for the
aset (or the CGU) in prior years. A reversal of
an impairment los is recognised imediately in
profit or los.
162Vico International Holdings Limited Anual Report 2024/2025
FOR THE YEAR ENDED 31 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. 编制综合财务报表的基准及重大会计
政策资料（续）
3.2 重大会计政策资料（续）
现金及现金等价物
综合财务状况表内呈列的现金及现
金等价物包括：
(a) 现金，包括手头现金及活期
存款；及
(b) 现金等价物，包括短期（一
般原到期日为三个月或以
下）、可随时转换成已知金
额现金及价值变动风险不大
的高流通投资。持有现金等
价物之目的是满足短期现金
承诺，而非为投资或其他目
的。
就综合现金流量表而言，现金及现
金等价物由上文所定义之现金及现
金等价物（扣除须按要求偿还并构
成本集团现金管理一部分之未偿还
银行透支）组成。该等透支于综合
财务状况表中列为短期借贷。
3. BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION
(CONTINUED)
3.2 Material acounting policy information
(Continued)
Cash and cash equivalents
Cash and cash equivalents presented on the
consolidated statement of financial position
include:
(a) cash, which comprises of cash on hand
and demand deposits; and
(b) cash equivalents, which comprises of
short-term (generaly with original maturity
of thre months or les), highly liquid
investments that are readily convertible
to a known amount of cash and which are
subject to an insignificant risk of changes
in value. Cash equivalents are held for
the purpose of meting short-term cash
comitments rather than for investment
or other purposes.
For the purpose of the consolidated statement of
cash flows, cash and cash equivalents consist
of cash and cash equivalents, as defined
above, net of outstanding bank overdrafts
which are repayable on demand and form an
integral part of the Group’s cash management.
Such overdrafts are presented as short-term
borowings in the consolidated statement of
financial position.
1632024/2025年报 域高国际控股有限公司
FOR THE YEAR ENDED 31 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. 编制综合财务报表的基准及重大会计
政策资料（续）
3.2 重大会计政策资料（续）
存货
存货按成本及可变现净值两者之较
低者列账。存货成本以先入先出法
计算。存货可变现净值指一般业务
过程中之估计售价减所有估计竣工
成本及必要销售成本。
对附属公司的投资
对附属公司的投资按成本减累计减
值亏损列示于本公司财务状况表。
拨备
当本集团因过往事件而须承担现时
责任（不论属法律或推定责任），且
本集团可能须清偿该责任，并可就
该责任金额作出可靠估计时，即确
认拨备。
确认为拨备的金额为经计及有关责
任的风险及不明朗因素后，为清偿
报告期末的现时责任所需代价的最
佳估计。倘使用估计用以清偿现时
责任的现金流量计算拨备，则其账
面值为该等现金流量现值（如货币
时间价值的影响属重大）。
3. BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION
(CONTINUED)
3.2 Material acounting policy information
(Continued)
Inventories
Inventories are stated at the lower of cost and
net realisable value. Costs of inventories are
calculated using the first-in, first-out method. Net
realisable value of inventories represents the
estimated seling price in the ordinary course of
busines les al estimated costs of completion
and costs necesary to make the sale.
Investment in a subsidiary
Investment in a subsidiary is stated on the
statement of financial position of the Company at
cost les acumulated impairment los.
Provisions
Provisions are recognised when the Group has
a present obligation (legal or constructive) as
a result of a past event, it is probable that the
Group wil be required to setle that obligation,
and a reliable estimate can be made of the
amount of the obligation.
The amount recognised as a provision is the
best estimate of the consideration required to
setle the present obligation at the end of the
reporting period, taking into acount the risks
and uncertainties surounding the obligation.
When a provision is measured using the cash
flows estimated to setle the present obligation,
its carying amount is the present value of those
cash flows (where the efect of the time value of
money is material).
164Vico International Holdings Limited Anual Report 2024/2025
FOR THE YEAR ENDED 31 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. 编制综合财务报表的基准及重大会计
政策资料（续）
3.2 重大会计政策资料（续）
或然负债
或然负债乃由于过往事件而产生的
现时义务，但由于履行该义务很可
能不需要体现经济利益的资源流
出，因此不予确认。
若本集团对某项责任负有共同及个
别责任，则预期由其他各方承担的
责任部分会被视为或然负债，且不
会于综合财务报表中确认。
本集团持续进行评估，以确定是否
有可能流出包含经济利益的资源。
倘以前作为或然负债处理的项目很
可能需要流出未来经济利益，则会
于可能性发生变化的报告期间在综
合财务报表中确认拨备，除非在极
少数情况下无法作出可靠估计。
3. BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION
(CONTINUED)
3.2 Material acounting policy information
(Continued)
Contingent liabilities
A contingent liability is a present obligation
arising from past events but is not recognised
because it is not probable that an outflow of
resources embodying economic benefits wil be
required to setle the obligation.
Where the Group is jointly and severaly liable
for an obligation, the part of the obligation that is
expected to be met by other parties is treated as
a contingent liability and it is not recognised in
the consolidated financial statements.
The Group aseses continualy to determine
whether an outflow of resources embodying
economic benefits has become probable. If
it becomes probable that an outflow of future
economic benefits wil be required for an item
previously dealt with as a contingent liability,
a provision is recognised in the consolidated
financial statements in the reporting period in
which the change in probability ocurs, except
in the extremely rare circumstances where no
reliable estimate can be made.
1652024/2025年报 域高国际控股有限公司
FOR THE YEAR ENDED 31 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. 编制综合财务报表的基准及重大会计
政策资料（续）
3.2 重大会计政策资料（续）
财务工具
财务资产及财务负债于集团实体成
为工具契约条款的一方时确认。财
务资产的所有常规买卖乃按交易日
期基准确认及取消确认。常规买卖
指须于市场规定或惯例所订时限内
交付资产的财务资产买卖。
财务资产及财务负债初步以公平值
计量，惟根据香港财务报告准则第
15号初步计量客户合约所产生的贸
易应收款项则除外。因收购或发行
财务资产及财务负债而产生之直接
交易成本于初步确认时加入财务资
产或财务负债之公平值或从中扣除
（如适用）。
3. BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION
(CONTINUED)
3.2 Material acounting policy information
(Continued)
Financial instruments
Financial asets and financial liabilities are
recognised when a group entity becomes a party
to the contractual provisions of the instrument.
Al regular way purchases or sales of financial
asets are recognised and derecognised on
a trade date basis. Regular way purchases or
sales are purchases or sales of financial asets
that require delivery of asets within the time
frame established by regulation or convention in
the market place.
Financial asets and financial liabilities are
initialy measured at fair value except for
trade receivables arising from contracts with
customers which are initialy measured in
acordance with HKFRS 15. Transaction costs
that are directly atributable to the acquisition or
isue of financial asets and financial liabilities
are aded to or deducted from the fair value
of the financial asets or financial liabilities, as
apropriate, on initial recognition.
166Vico International Holdings Limited Anual Report 2024/2025
FOR THE YEAR ENDED 31 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. 编制综合财务报表的基准及重大会计
政策资料（续）
3.2 重大会计政策资料（续）
财务工具（续）
实际利率法是计算财务资产或财务
负债的摊销成本及在相关期间分配
利息收入及利息开支的方法。实际
利率是于财务资产或财务负债的预
期年限或（倘适当）较短期间准确贴
现估计未来现金收款及付款（包括
构成实际利率不可或缺部分的一切
已付或已收费用及基点、交易成本
及其他溢价或折让）至初步确认时
的账面净值的利率。
利息收入于损益确认，并计入「其
他收入」项目内。
财务资产
所有已确认财务资产其后均按摊销
成本或公平值（视财务资产类别而
定）整体计量。初步确认时的财务
资产分类取决于财务资产的合约现
金流量特征及本集团管理该等资产
的业务模式。
3. BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION
(CONTINUED)
3.2 Material acounting policy information
(Continued)
Financial instruments (Continued)
The efective interest method is a method of
calculating the amortised cost of a financial
aset or financial liability and of alocating
interest income and interest expense over the
relevant period. The efective interest rate is the
rate that exactly discounts estimated future cash
receipts and payments (including al fes and
points paid or received that form an integral part
of the efective interest rate, transaction costs
and other premiums or discounts) through the
expected life of the financial aset or financial
liability, or, where apropriate, a shorter period,
to the net carying amount on initial recognition.
Interest income is recognised in profit of los
and is included in the “Other income” line item.
Financial asets
Al recognised financial asets are subsequently
measured in their entirety at either amortised
cost or fair value, depending on the clasification
of the financial asets. The clasification of
financial asets at initial recognition depends
on the financial aset’s contractual cash flow
characteristics and the Group’s busines model
for managing them.
1672024/2025年报 域高国际控股有限公司
FOR THE YEAR ENDED 31 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. 编制综合财务报表的基准及重大会计
政策资料（续）
3.2 重大会计政策资料（续）
财务工具（续）
财务资产（续）
如符合下列两项条件，本集团随后
会按摊销成本计量财务资产：
• 财务资产是在一个商业模式
内持有，该商业模式的目标
是持有财务资产，以收集合
约现金流量；及
• 财务资产的合约条款导致在
特定日期产生现金流量，该
等现金流量仅为未偿付本金
额的本金及利息的付款。
按摊销成本计量的财务资产随后采
用实际利率法进行计量，并可能出
现减值。
根据香港财务报告准则第9号须进
行减值评估之财务资产及其他项目
减值
本集团根据预期信贷亏损（「预期信
货亏损」）模式，就按香港财务报告
准则第9号须进行减值评估的财务
资产（包括贸易应收款项以及按金
及其他应收款项）进行减值评估。
预期信贷亏损金额于各报告日期更
新，以反映自初始确认后信贷风险
的变化。
3. BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION
(CONTINUED)
3.2 Material acounting policy information
(Continued)
Financial instruments (Continued)
Financial asets (Continued)
The Group measures financial asets
subsequently at amortised cost if both of the
folowing conditions are met:
• the financial aset is held within a
busines model whose objective is to
hold financial asets in order to colect
contractual cash flows; and
• the contractual terms of the financial
aset give rise on specified dates to cash
flows that are solely payments of principal
and interest on the principal amount
outstanding.
Financial asets at amortised cost are
subsequently measured using the efective
interest method and are subject to impairment.
Impairment of financial asets and other items
subject to impairment asesment under
HKFRS 9
The Group performs impairment asesment
under expected credit los (“ECL”) model on
financial asets (including trade receivables,
deposits and other receivables) which are
subject to impairment asesment under HKFRS
9. The amount of ECL is updated at each
reporting date to reflect changes in credit risk
since initial recognition.
168Vico International Holdings Limited Anual Report 2024/2025
FOR THE YEAR ENDED 31 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. 编制综合财务报表的基准及重大会计
政策资料（续）
3.2 重大会计政策资料（续）
财务工具（续）
财务资产（续）
根据香港财务报告准则第9号须进
行减值评估之财务资产及其他项目
减值（续）
全期预期信贷亏损指在相关工具的
预期年期内所有可能的违约事件导
致的预期信贷亏损。相反，12个月
预期信贷亏损（「12个月预期信贷亏
损」）为预期于报告日期后12个月内
可能发生的违约事件导致的全期预
期信贷亏损部分。评估乃根据本集
团的过往信贷亏损经验进行，并就
债务人特有的因素、整体经济情况
以及对报告日期当前情况的评估以
及对未来情况的预测作出调整。
本集团一直就贸易应收款项确认全
期预期信贷亏损。
对于所有其他财务工具，本集团计
量相当于12个月预期信贷亏损的亏
损拨备，除非自初始确认以来信贷
风险显著增加，在此情况下，本集
团确认全期预期信贷亏损。对全期
预期信贷亏损是否应予以确认的评
估，是基于自初始确认以来发生违
约的可能性或风险的显著增加。
3. BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION
(CONTINUED)
3.2 Material acounting policy information
(Continued)
Financial instruments (Continued)
Financial asets (Continued)
Impairment of financial asets and other items
subject to impairment asesment under
HKFRS 9 (Continued)
Lifetime ECL represents the ECL that wil
result from al posible default events over
the expected life of the relevant instrument. In
contrast, 12-month ECL (“12m ECL”) represents
the portion of lifetime ECL that is expected to
result from default events that are posible within
12 months after the reporting date. Asesments
are done based on the Group’s historical credit
los experience, adjusted for factors that are
specific to the debtors, general economic
conditions and an asesment of both the
curent conditions at the reporting date as wel
as the forecast of future conditions.
The Group always recognises lifetime ECL for
trade receivables.
For al other financial instruments, the Group
measures the los alowance equal to 12-month
ECL, unles when there has a significant
increase in credit risk since initial recognition, the
Group recognises lifetime ECL. The asesment
of whether lifetime ECL should be recognised is
based on significant increase in the likelihod
or risk of a default ocuring since initial
recognition.
1692024/2025年报 域高国际控股有限公司
FOR THE YEAR ENDED 31 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. 编制综合财务报表的基准及重大会计
政策资料（续）
3.2 重大会计政策资料（续）
财务工具（续）
财务资产（续）
根据香港财务报告准则第9号须进
行减值评估之财务资产及其他项目
减值（续）
(i) 信贷风险显著增加
在评估自初始确认以来财务
工具的信贷风险是否显著增
加时，本集团将于报告日期
财务工具发生违约的风险与
于初始确认日期财务工具发
生违约的风险进行比较。在
进行评估时，本集团会考虑
合理且有理据的定量及定性
资料，包括过往经验及无需
过多的成本或努力即可获得
的前瞻性资料。
尤其是，在评估自初始确认
以来信贷风险是否显著增加
时，会考虑以下资料：
- （如有）
或内部信贷评级实际
或预期重大恶化；
• 预计会导致债务人履
行其债务责任的能力
大幅下降的业务、财
务或经济状况的现有
或预测的不利变化；
3. BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION
(CONTINUED)
3.2 Material acounting policy information
(Continued)
Financial instruments (Continued)
Financial asets (Continued)
Impairment of financial asets and other items
subject to impairment asesment under
HKFRS 9 (Continued)
(i) Significant increase in credit risk
In asesing whether the credit risk on
a financial instrument has increased
significantly since initial recognition, the
Group compares the risk of a default
ocuring on the financial instrument
as at the reporting date with the risk
of a default ocuring on the financial
instrument as at the date of initial
recognition. In making this asesment,
the Group considers both quantitative
and qualitative information that is
reasonable and suportable, including
historical experience and forward-loking
information that is available without undue
cost or efort.
In particular, the folowing information
is taken into acount when asesing
whether credit risk has increased
significantly since initial recognition:
• an actual or expected significant
deterioration in the financial
instrument’s external (if available)
or internal credit rating;
• existing or forecast adverse
changes in busines, financial
or economic conditions that are
expected to cause a significant
decrease in the debtor’s ability to
met its debt obligations;
170Vico International Holdings Limited Anual Report 2024/2025
FOR THE YEAR ENDED 31 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. 编制综合财务报表的基准及重大会计
政策资料（续）
3.2 重大会计政策资料（续）
财务工具（续）
财务资产（续）
根据香港财务报告准则第9号须进
行减值评估之财务资产及其他项目
减值（续）
(i) 信贷风险显著增加（续）
• 债务人经营业绩的实
际或预期显著恶化；
• 同一债务人的其他财
务工具的信贷风险显
著增加；
- 、经济
或技术环境中实际或
预期的重大不利变化
导致债务人履行其债
务责任的能力大幅下
降。
无论上述评估的结果如何，
当合约付款逾期超过30日
时，本集团均假设财务资产
的信贷风险自初始确认以来
显著增加，除非本集团有合
理及有理据的资料证明并非
如此。
3. BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION
(CONTINUED)
3.2 Material acounting policy information
(Continued)
Financial instruments (Continued)
Financial asets (Continued)
Impairment of financial asets and other items
subject to impairment asesment under
HKFRS 9 (Continued)
(i) Significant increase in credit risk
(Continued)
• an actual or expected significant
deterioration in the operating
results of the debtor;
• significant increases in credit risk
on other financial instruments of
the same debtor;
• an actual or expected significant
adverse change in the regulatory,
economic, or technological
environment of the debtor that
results in a significant decrease in
the debtor’s ability to met its debt
obligations.
Irespective of the outcome of the above
asesment, the Group presumes that
the credit risk on a financial aset has
increased significantly since initial
recognition when contractual payments
are more than 30 days past due,
unles the Group has reasonable and
suportable information that demonstrates
otherwise.
1712024/2025年报 域高国际控股有限公司
FOR THE YEAR ENDED 31 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. 编制综合财务报表的基准及重大会计
政策资料（续）
3.2 重大会计政策资料（续）
财务工具（续）
财务资产（续）
根据香港财务报告准则第9号须进
行减值评估之财务资产及其他项目
减值（续）
(i) 信贷风险显著增加（续）
尽管如此，如果债务工具在
报告日期被确定具有低信贷
风险，则本集团假设债务工
具的信贷风险自初始确认以
来并未显著增加。如果(i)财
务工具违约风险较低，(i)借
款人在短期内具有较强的履
行其合约现金流量责任的能
力，以及(i)较长远的经济
及业务状况的不利变化可能
但未必会削弱借款人履行其
合约现金流量责任的能力，
则厘定财务工具有较低的
信贷风险。当资产具有根据
全球公认定义的「投资等级」
的外部信贷评级或者如果并
无外部评级，而该资产的内
部评级为「正常」，则本集团
认为债务工具有较低的信
贷风险。正常意味著对手方
具有强大的财务状况且并无
逾期金额。
3. BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION
(CONTINUED)
3.2 Material acounting policy information
(Continued)
Financial instruments (Continued)
Financial asets (Continued)
Impairment of financial asets and other items
subject to impairment asesment under
HKFRS 9 (Continued)
(i) Significant increase in credit risk
(Continued)
Despite the foregoing, the Group
asumes that the credit risk on a debt
instrument has not increased significantly
since initial recognition if the debt
instrument is determined to have low
credit risk at the reporting date. A
financial instrument is determined to
have low credit risk if (i) the financial
instrument has a low risk of default, (i) the
borower has a strong capacity to met
its contractual cash flow obligations in the
near term, and (i) adverse changes in
economic and busines conditions in the
longer term may, but wil not necesarily,
reduce the ability of the borower to fulfil
its contractual cash flow obligations.
The Group considers a debt instrument
to have low credit risk when the aset
has external credit rating of ‘investment
grade’ in acordance with the globaly
understod definition or if an external
rating is not available, the aset has an
internal rating of ‘performing’. Performing
means that the counterparty has a strong
financial position and there are no past
due amounts.
172Vico International Holdings Limited Anual Report 2024/2025
FOR THE YEAR ENDED 31 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. 编制综合财务报表的基准及重大会计
政策资料（续）
3.2 重大会计政策资料（续）
财务工具（续）
财务资产（续）
根据香港财务报告准则第9号须进
行减值评估之财务资产及其他项目
减值（续）
(i) 信贷风险显著增加（续）
本集团定期监察用以识别信
贷风险是否显著增加的准则
的有效性，并对其进行修订
（如适当），以确保该准则能
够在金额逾期前识别信贷风
险的显著增加。
(i) 违约的定义
本集团认为以下各项构成内
部信贷风险管理的违约事
件，因为过往经验表明符合
以下任何一项标准的应收款
项一般不可收回：
• 债务人违反财务契诺
时；或
• 内部开发或从外部来
源获得的资料表明债
务人不可能全额支付
其债权人（包括本集
团）（未计及本集团持
有的任何抵押品）。
3. BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION
(CONTINUED)
3.2 Material acounting policy information
(Continued)
Financial instruments (Continued)
Financial asets (Continued)
Impairment of financial asets and other items
subject to impairment asesment under
HKFRS 9 (Continued)
(i) Significant increase in credit risk
(Continued)
The Group regularly monitors the
efectivenes of the criteria used to
identify whether there has ben a
significant increase in credit risk and
revises them as apropriate to ensure
that the criteria are capable of identifying
significant increase in credit risk before
the amount becomes past due.
(i) Definition of default
The Group considers the folowing
as constituting an event of default for
internal credit risk management purposes
as historical experience indicates
that receivables that met either of
the folowing criteria are generaly not
recoverable:
• when there is a breach of financial
covenants by the debtor; or
• information developed internaly
or obtained from external sources
indicates that the debtor is unlikely
to pay its creditors, including the
Group, in ful (without taking into
acount any colaterals held by the
Group).
1732024/2025年报 域高国际控股有限公司
FOR THE YEAR ENDED 31 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. 编制综合财务报表的基准及重大会计
政策资料（续）
3.2 重大会计政策资料（续）
财务工具（续）
财务资产（续）
根据香港财务报告准则第9号须进
行减值评估之财务资产及其他项目
减值（续）
(i) 违约的定义（续）
尽管有以上分析，本集团认
为，除非本集团有合理及有
理据的资料证明更为宽松的
违约标准更为合适，否则财
务资产逾期超过90日时即已
发生违约。
(i) 信贷减值的财务资产
当一项或多项事件对该财务
资产的估计未来现金流量产
生不利影响时，财务资产即
为信贷减值。财务资产存在
信贷减值的证据包括有关以
下事件的可观察数据：
• 债务人的重大财务困
难；
- ，例如违约
或逾期事件；
• 债务人很可能会破产
或进行其他财务重
组；或
- ，该财
务资产的活跃市场消
失。
3. BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION
(CONTINUED)
3.2 Material acounting policy information
(Continued)
Financial instruments (Continued)
Financial asets (Continued)
Impairment of financial asets and other items
subject to impairment asesment under
HKFRS 9 (Continued)
(i) Definition of default (Continued)
Irespective of the above analysis, the
Group considers that default has ocured
when a financial aset is more than 90
days past due unles the Group has
reasonable and suportable information
to demonstrate that a more laging
default criterion is more apropriate.
(i) Credit-impaired financial asets
A financial aset is credit-impaired
when one or more events that have a
detrimental impact on the estimated future
cash flows of that financial aset have
ocured. Evidence that a financial aset
is credit-impaired includes observable
data about the folowing events:
• significant financial dificulty of the
debtor;
- , such as a
default or past due event;
• it is becoming probable that the
debtor wil undergo bankruptcy or
other financial restructuring; or
• the disapearance of an active
market for that financial aset
because of financial dificulties.
174Vico International Holdings Limited Anual Report 2024/2025
FOR THE YEAR ENDED 31 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. 编制综合财务报表的基准及重大会计
政策资料（续）
3.2 重大会计政策资料（续）
财务工具（续）
财务资产（续）
根据香港财务报告准则第9号须进
行减值评估之财务资产及其他项目
减值（续）
(iv) 撇销政策
当有资料表明债务人处于严
重的财务困难且并无实际收
回的可能（例如当对手方已
被清盘或已进入破产程序）
时，本集团会撇销一项财务
资产。在适当的情况下考虑
法律建议后，撇销的财务资
产仍可进行本集团收回程序
下的强制执行活动。撇销构
成终止确认事项。所作出的
任何收回均在损益中确认。
(v) 预期信贷亏损之计量及确认
预期信贷亏损的计量是违约
概率、违约亏损率（即违约
时的亏损程度）及违约风险
的函数。违约概率及违约亏
损率的评估乃基于根据前瞻
性资料作出调整的过往数
据。预期信贷亏损之估计反
映无偏颇及概率加权数额，
其乃根据加权之相应违约风
险而厘定。
3. BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION
(CONTINUED)
3.2 Material acounting policy information
(Continued)
Financial instruments (Continued)
Financial asets (Continued)
Impairment of financial asets and other items
subject to impairment asesment under
HKFRS 9 (Continued)
(iv) Write-of policy
The Group writes of a financial aset when
there is information indicating that the
debtor is in severe financial dificulty and
there is no realistic prospect of recovery,
e.g. when the counterparty has ben
placed under liquidation or has entered
into bankruptcy procedings. Financial
asets writen of may stil be subject to
enforcement activities under the Group’s
recovery procedures, taking into acount
legal advice where apropriate. A write-
of constitutes a derecognition event. Any
recoveries made are recognised in profit
or los.
(v) Measurement and recognition of ECL
The measurement of ECL is a function
of the probability of default, los given
default (i.e. the magnitude of the los if
there is a default) and the exposure at
default. The asesment of the probability
of default and los given default is based
on historical data adjusted by forward-
loking information. Estimation of ECL
reflects an unbiased and probability-
weighted amount that is determined with
the respective risks of default ocuring
as the weights.
1752024/2025年报 域高国际控股有限公司
FOR THE YEAR ENDED 31 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. 编制综合财务报表的基准及重大会计
政策资料（续）
3.2 重大会计政策资料（续）
财务工具（续）
财务资产（续）
根据香港财务报告准则第9号须进
行减值评估之财务资产及其他项目
减值（续）
(v) 预期信贷亏损之计量及确认
（续）
通常，预期信贷亏损为根据
合约应付本集团的所有合约
现金流量与本集团预期收取
的现金流量（按于初始确认
时厘定的实际利率贴现）之
间的差额。
如本集团已在上一个报告期
内按相等于全期预期信贷亏
损的金额计量财务工具的亏
损拨备，但在本报告日期确
定不再符合全期预期信贷亏
损的条件，则本集团在本报
告日期按等于12个月预期
信贷亏损的金额计量亏损拨
备，惟使用简化方法的资产
除外。
本集团于损益确认所有财务
工具的减值收益或亏损，并
通过亏损拨备账对其账面值
进行相应调整。
3. BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION
(CONTINUED)
3.2 Material acounting policy information
(Continued)
Financial instruments (Continued)
Financial asets (Continued)
Impairment of financial asets and other items
subject to impairment asesment under
HKFRS 9 (Continued)
(v) Measurement and recognition of ECL
(Continued)
Generaly, the ECL is the diference
betwen al contractual cash flows that
are due to the Group in acordance with
the contract and the cash flows that the
Group expects to receive, discounted at
the efective interest rate determined at
initial recognition.
If the Group has measured the los
alowance for a financial instrument at
an amount equal to lifetime ECL in the
previous reporting period, but determines
at the curent reporting date that the
conditions for lifetime ECL are no longer
met, the Group measures the los
alowance at an amount equal to 12-month
ECL at the curent reporting date, except
for asets for which simplified aproach
was used.
The Group recognises an impairment
gain or los in profit or los for al financial
instruments with a coresponding
adjustment to their carying amount
through a los alowance acount.
176Vico International Holdings Limited Anual Report 2024/2025
FOR THE YEAR ENDED 31 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. 编制综合财务报表的基准及重大会计
政策资料（续）
3.2 重大会计政策资料（续）
财务工具（续）
财务资产（续）
终止确认财务资产
本集团仅在自资产收取现金流量的
合约权利到期或将财务资产及资产
所有权的绝大部分风险及回报转移
至另一方时终止确认财务资产。
于终止确认按摊销成本计量的财务
资产时，资产账面值与已收及应收
代价总额之间的差额于损益中确
认。
财务负债及股本工具
分类为债务或权益
集团实体发行的债务及股本工具根
据合约安排的性质以及财务负债及
股本工具的定义分类为财务负债或
权益。
股本工具
股本工具是指在扣除所有负债后证
明实体对资产的剩余权益的任何合
约。集团实体发行的股本工具按已
收所得款项确认，扣除直接发行成
本。
3. BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION
(CONTINUED)
3.2 Material acounting policy information
(Continued)
Financial instruments (Continued)
Financial asets (Continued)
Derecognition of financial asets
The Group derecognises a financial aset only
when the contractual rights to the cash flows
from the aset expire, or when it transfers the
financial aset and substantialy al the risks and
rewards of ownership of the aset to another
party.
On derecognition of a financial aset measured
at amortised cost, the diference betwen
the aset’s carying amount and the sum of
the consideration received and receivable is
recognised in profit or los.
Financial liabilities and equity instruments
Clasification as debt or equity
Debt and equity instruments isued by a group
entity are clasified as either financial liabilities
or as equity in acordance with the substance of
the contractual arangements and the definitions
of a financial liability and an equity instrument.
Equity instruments
An equity instrument is any contract that
evidences a residual interest in the asets of
an entity after deducting al of its liabilities.
Equity instruments isued by a group entity are
recognised at the proceds received, net of
direct isue costs.
1772024/2025年报 域高国际控股有限公司
FOR THE YEAR ENDED 31 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. 编制综合财务报表的基准及重大会计
政策资料（续）
3.2 重大会计政策资料（续）
财务工具（续）
财务负债及股本工具（续）
财务负债
所有财务负债其后采用实际利率法
按摊销成本计量。
其后按摊销成本计量的财务负债
倘财务负债并非(i)收购方于业务合
并中之或然代价，(i)持作买卖，或
(i)指定为按公平值计入损益，则
其后采用实际利率法按摊销成本计
量。
终止确认财务负债
当且仅当本集团的责任被解除、取
消或到期时，本集团终止确认财务
负债。已终止确认的财务负债的账
面值与已付及应付代价（包括任何
已转让的非现金资产或承担的负
债）之间的差额于损益中确认。
3. BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION
(CONTINUED)
3.2 Material acounting policy information
(Continued)
Financial instruments (Continued)
Financial liabilities and equity instruments
(Continued)
Financial liabilities
Al financial liabilities are subsequently measured
at amortised cost using the efective interest
method.
Financial liabilities subsequently measured at
amortised cost
Financial liabilities that are not (i) contingent
consideration of an acquirer in a busines
combination, (i) held-for-trading, or (i)
designated as at fair value through profit or los,
are subsequently measured at amortised cost
using the efective interest method.
Derecognition of financial liabilities
The Group derecognises financial liabilities
when, and only when, the Group’s obligations
are discharged, canceled or they expire.
The diference betwen the carying amount
of the financial liability derecognised and the
consideration paid and payable, including
any non-cash asets transfered or liabilities
asumed, is recognised in profit or los.
178Vico International Holdings Limited Anual Report 2024/2025
FOR THE YEAR ENDED 31 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. 重大会计判断及估计不明朗因素的主
要来源
在应用附注3所述的本集团会计政策时，
本公司董事须对综合财务报表内已呈报资
产、负债、收益及开支账面值及作出的披
露作出判断、估计及假设。估计及相关假
设乃根据过往经验及被视为相关的其他因
素作出。实际结果可能会有别于该等估
计。
估计及相关假设按持续基准进行检讨。倘
会计估计的修订仅影响估计作出修订的期
间，则在该期间确认，倘修订同时影响修
订的当前期间及未来期间，则在作出修订
期间及未来期间确认。
应用会计政策的主要判断
下文列载本公司董事于应用本集团会计政
策时的主要判断（不包括涉及估计的判断，
见下文），其对综合财务报表内确认的金额
及披露资料影响最重大。
主事人与代理之考量（主事人）
本集团从事柴油销售。经考虑多项指标，
例如本集团主要负责达成提供商品的允
诺，及本集团承担存货风险及可酌情厘定
商品售价，本集团得出结论为其就有关交
易担任主事人，因为其在向客户转移特定
商品前控制有关商品。当本集团完成履约
义务时，本集团按合约所订明本集团预期
将享有之代价总额确认贸易收入。
于截至二零二五年三月三十一日止年度，
本集团就销售柴油确认的销售额约为
1,469,000,000港元。
4. CRITICAL ACOUNTING JUDGEMENT
AND KEY SOURCES OF ESTIMATION
UNCERTAINTY
In the aplication of the Group’s acounting policies,
which are described in Note 3, the directors of the
Company are required to make judgement, estimates
and asumptions about the carying amounts of
asets, liabilities, revenue and expenses reported
and disclosures made in the consolidated financial
statements. The estimates and asociated asumptions
are based on historical experience and other factors
that are considered to be relevant. Actual results may
difer from these estimates.
The estimates and underlying asumptions are reviewed
on an on-going basis. Revisions to acounting estimates
are recognised in the period in which the estimate is
revised if the revision afects only that period, or in the
period of the revision and future periods if the revision
afects both curent and future periods.
Critical judgement in aplying acounting policies
The folowing is the critical judgement, apart from those
involving estimations (se below), that the directors of
the Company have made in the proces of aplying
the Group’s acounting policies and that have the
most significant efect on the amounts recognised
and disclosures made in the consolidated financial
statements.
Principal versus agent consideration (principal)
The Group engages in sales of diesel. The Group
concluded that the Group acts as the principal for
such transactions as it controls the specified god
before it is transfered to the customer after taking into
consideration indicators such as the Group is primarily
responsible for fulfiling the promise to provide the
gods, and the Group has inventory risk and discretion
in establishing seling prices of the gods. When the
Group satisfies the performance obligation, the Group
recognises trading revenue in the gros amount of
consideration to which the Group expects to be entitled
as specified in the contracts.
During the year ended 31 March 2025, the Group
recognised relating to sales of diesel amounted to
aproximately HK$1,469 milion.
1792024/2025年报 域高国际控股有限公司
FOR THE YEAR ENDED 31 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. 重大会计判断及估计不明朗因素的主
要来源（续）
估计不明朗因素的主要来源
以下为关于未来的主要假设及于报告期末
的估计不明朗因素的其他主要来源，该等
假设及来源均具有对下个财政年度内资产
账面值造成重大调整的重大风险。
贸易应收款项之估计减值
贸易应收款项的减值拨备乃基于有关预期
信贷亏损的假设。本集团在作出该等假设
及挑选减值计算输入数据时使用判断，并
基于个别应收款项的尚未偿还日数以及本
集团的过往经验和报告期末的前瞻性资
料。该等假设及估计的变动可能会对评估
结果产生重大影响及须对综合损益及其他
全面收益表作出额外的减值扣减。
于二零二五年三月三十一日，贸易应收款
项账面值为约36,356,000港元（二零二四
年：46,014,000港元），贸易应收款项的累
计减值亏损拨备为约1,630,000港元（二零
二四年：1,270,000港元）。
4. CRITICAL ACOUNTING JUDGEMENT
AND KEY SOURCES OF ESTIMATION
UNCERTAINTY (CONTINUED)
Key sources of estimation uncertainty
The folowing are the key asumptions concerning the
future, and other key source of estimation uncertainty at
the end of the reporting period, that have a significant
risk of resulting in a material adjustment to the carying
amounts of asets within the next financial year.
Estimated impairment of trade receivables
The impairment provisions for trade receivables are
based on asumptions about ECL. The Group uses
judgement in making these asumptions and selecting
the inputs to the impairment calculation, bases on
the number of days that an individual receivable is
outstanding as wel as the Group’s historical experience
and forward-loking information at the end of the
reporting period. Changes in these asumptions and
estimates could materialy afect the result of the
asesment and it may be necesary to make aditional
impairment charge to the consolidated statement of
profit or los and other comprehensive income.
At 31 March 2025, the carying amount of trade
receivables is aproximately HK$36,356,000 (2024:
HK$46,014,000), with acumulated los alowance
for impairment of trade receivables aproximately
HK$1,630,000 (2024: HK$1,270,000).
180Vico International Holdings Limited Anual Report 2024/2025
FOR THE YEAR ENDED 31 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. 重大会计判断及估计不明朗因素的主
要来源（续）
估计不明朗因素的主要来源（续）
物业、厂房及设备以及投资物业的估计减
值
于报告期末，本公司董事审阅物业、厂房
及设备以及投资物业的账面值，并识别是
否有任何迹象显示物业、厂房及设备以及
投资物业可能出现减值。本集团已委聘外
部估值师协助对投资物业进行估值，以厘
定可收回金额。根据本集团的会计政策，
物业、厂房及设备以及投资物业的减值亏
损按账面值超出其可收回金额的金额确
认。投资物业及物业、厂房及设备的可收
回金额为公平值减销售成本与使用价值两
者中的较高者。于厘定可收回金额时，使
用可资比较公司的二手市场价格及交易成
本等数据。
于报告期末，本集团管理层审阅本集团物
业、厂房及设备以及投资物业之账面值
分别约117,773,000港元及6,400,000港元
（二零二四年：分别为123,332,000港元及
7,197,000港元）。于本年度内，确认投资
物业之减值亏损约488,000港元（二零二四
年：318,000港元）。于两个年度概无确认
物业、厂房及设备之减值亏损。
4. CRITICAL ACOUNTING JUDGEMENT
AND KEY SOURCES OF ESTIMATION
UNCERTAINTY (CONTINUED)
Key sources of estimation uncertainty (Continued)
Estimated impairment of property, plant and
equipment and investment properties
At the end of the reporting period, the directors of the
Company review the carying amount of the property,
plant and equipment and investment properties
and identified if there is any indication for posible
impairment of property, plant and equipment and
investment properties. The Group has engaged an
external valuer to asist in performing valuation of
investment properties in determining the recoverable
amount. The impairment los for property, plant and
equipment and investment properties were recognised
for the amounts by which the carying amounts exced
their recoverable amounts, in acordance with the
Group’s acounting policy. The recoverable amounts
of investment properties and property, plant and
equipment are the greater of the fair value les costs
to sel and value-in-use. In determining the recoverable
amount, data such as second hand market prices of
comparables, and transaction costs are used.
At the end of the reporting period, the Group’s
management reviews the carying amount of the
Group’s property, plant and equipment and investment
properties of aproximately HK$117,773,000 and
HK$6,400,000 respectively (2024: HK$123,332,000
and HK$7,197,000 respectively). During the year,
impairment los of investment properties aproximately
HK$488,000 was recognised (2024: HK$318,000). No
impairment los of property, plant and equipment have
ben recognised for both years.
| 2025 |
|---|
| 二零二五年 |
| HK$’000 |
| 千港元 |
| 120,550 |
| 43,246 |
1812024/2025年报 域高国际控股有限公司
FOR THE YEAR ENDED 31 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. 资本风险管理
本集团管理资本以确保其将能继续按持续
经营基准营运，同时透过改善债务及股本
结余为持份者带来最大回报。于先前年
度，本集团的整体策略维持不变。
本集团的资本架构包括净负债（包括分别于
附注24及18披露的银行借贷及透支以及租
赁负债）扣除现金及现金等价物及本公司拥
有人应占股本（包括已发行股本、保留溢利
及其他储备）。
本集团管理层定期检讨资本架构。作为检
讨的一部分，本集团管理层省览资本成本
及各类资本的相关风险。本集团将透过支
付股息、发行新股及发行新债务或赎回借
贷平衡其整体资本架构。
6. 财务工具
(a) 财务工具分类
5. CAPITAL RISK MANAGEMENT
The Group manages its capital to ensure it wil be able
to continue as a going concern while maximising the
return to stakeholders through the optimisation of the
debt and equity balance. The Group’s overal strategy
remains unchanged from prior year.
The capital structure of the Group consists of net
debt, which includes bank borowings and overdrafts
and lease liabilities disclosed in Notes 24 and 18
respectively, net of cash and cash equivalents, and
equity atributable to the owners of the Company,
comprising isued share capital, retained profits and
other reserves.
The management of the Group reviews the capital
structure regularly. As part of this review, the
management of the Group considers the cost of capital
and the risks asociated with each clas of capital. The
Group wil balance its overal capital structure through
the payment of dividends, isuance of new shares
as wel as the isue of new debt or redemption of
borowings.
6. FINANCIAL INSTRUMENTS
(a) Categories of financial instruments
二零二四年
HK$’000
千港元
Financial asets财务资产
At amortised cost按摊销成本88,779
Financial liabilities财务负债
At amortised cost按摊销成本43,248
182Vico International Holdings Limited Anual Report 2024/2025
FOR THE YEAR ENDED 31 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
- （续）
(b) 财务风险管理目标及政策
本集团的主要财务工具包括贸易及
其他应收款项、应收最终控股公司
款项、定期存款、现金及现金等价
物、贸易及其他应付款项以及银
行借贷及透支。财务工具的详情于
相关附注披露。该等财务工具的相
关风险包括市场风险（汇率风险及
利率风险）、信贷风险及流动资金
风险。减缓该等风险的政策载于下
文。本集团管理层管理及监察该等
风险以确保及时和有效实行适当措
施。
市场风险
(i) 汇率风险
只要港元与美元挂钩，本集
团毋须就港元兑美元承受汇
率风险。以美元计值的交易
及货币资产极少，本集团认
为并无有关美元的重大汇率
风险。
(i) 利率风险
本集团就浮动利率银行结余
（见附注22）及浮动利率银行
借贷（见附注24）承受现金流
利率风险。本集团的政策为
按浮动利率维持借贷以将公
平值利率风险降至最低。
6. FINANCIAL INSTRUMENTS (CONTINUED)
(b) Financial risk management objectives and
policies
The Group’s major financial instruments include
trade and other receivables, amount due from
ultimate holding company, time deposit, cash
and cash equivalents, trade and other payables,
bank borowings and overdrafts. Details of the
financial instruments are disclosed in respective
notes. The risks asociated with these financial
instruments include market risk (curency risk
and interest rate risk), credit risk and liquidity
risk. The policies on how to mitigate these risks
are set out below. The management of the Group
manages and monitors these exposures to
ensure apropriate measures are implemented
on a timely and efective maner.
Market risk
(i) Curency risk
The Group is not exposed to foreign
curency risk in respect of HKD against
USD as long as these curencies are
peged. The transactions and monetary
asets denominated in USD are minimal,
the Group considers there have no
significant foreign exchange risk in
respect of USD.
(i) Interest rate risk
The Group is exposed to cash flow
interest rate risk in relation to variable-
rate bank balances (se Note 22) and
variable-rate bank borowings (se Note
24). It is the Group’s policy to kep its
borowings at floating rate of interest so
as to minimise the fair value interest rate
risk.
1832024/2025年报 域高国际控股有限公司
FOR THE YEAR ENDED 31 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
- （续）
(b) 财务风险管理目标及政策（续）
市场风险（续）
(i) 利率风险（续）
本集团的财务负债利率风险
于本附注流动资金风险管理
一节详述。本集团的现金流
利率风险主要集中于本集团
浮动利率银行结余的当前市
场利率及本集团浮动利率
银行借贷的香港最优惠利
率（「香港最优惠利率」）的波
动。
敏感度分析
以下敏感度分析乃根据报告
期末非衍生工具的利率风险
厘定。编制分析时假设于各
报告期末的未偿还财务工具
于整个年度均无偿还。就向
主要管理层人员作内部利率
风险呈报而言，于截至二零
二五年及二零二四年三月三
十一日止年度使用50个基
点的增减幅度及其代表管理
层对利率合理可能变动的评
估。
倘利率上调╱下跌50个基点
（二零二四年：50个基点），
而所有其他变数维持不变，
对本集团的年内溢利的影响
为增加╱减少约62,000港元
（二零二四年：1,000港元）。
6. FINANCIAL INSTRUMENTS (CONTINUED)
(b) Financial risk management objectives and
policies (Continued)
Market risk (Continued)
(i) Interest rate risk (Continued)
The Group’s exposures to interest rates
on financial liabilities are detailed in the
liquidity risk management section of this
note. The Group’s cash flow interest
rate risk is mainly concentrated on the
fluctuation of prevailing market interest
rates arising from the Group’s variable-
rate bank balances and Hong Kong Prime
Rate (“HK Prime Rate”) arising from the
Group’s variable-rate bank borowings.
Sensitivity analysis
The sensitivity analysis below has ben
determined based on the exposure
to interest rates for non-derivative
instruments at the end of the reporting
period. The analysis is prepared
asuming the financial instruments
outstanding at the end of the reporting
period were outstanding for the whole
year. 50 basis point increase or decrease
is used for the years ended 31 March
2025 and 2024 when reporting interest
rate risk internaly to key management
personel and represents management’s
asesment of the reasonably posible
change in interest rates.
If interest rates had ben 50 basis
points (2024: 50 basis points) higher/
lower and al other variables were held
constant, efects on the Group’s profit
for the year would increase/decrease
by aproximately HK$62,000 (2024:
HK$1,000).
184Vico International Holdings Limited Anual Report 2024/2025
FOR THE YEAR ENDED 31 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
- （续）
(b) 财务风险管理目标及政策（续）
信贷风险及减值评估
信贷风险指本集团之对手方不履行
合约义务，导致本集团遭受财务损
失之风险。于二零二五年三月三十
一日，将招致本集团财务损失之本
集团最高信贷风险（不考虑任何持
有之抵押品或其他增信措施）乃由
于对手方未能履行责任，有关责任
因综合财务状况表所述的相关已确
认财务资产的账面值所致。
本集团信贷风险主要来自贸易及其
他应收款项、定期存款及银行结
余。该等结余的账面值为本集团有
关财务资产的最大信贷风险。
为将信贷风险降至最低，本集团管
理层指派团队负责厘定信用限额、
信贷审批及其他监控措施，以确保
采取跟进措施收回逾期未付之债
务。
就贸易应收款项而言，本集团使用
香港财务报告准则第9号的简化法
按全期预期信贷亏损计量亏损拨
备。本集团使用拨备矩阵共同厘定
预期信贷亏损，并根据过往信贷亏
损经验，以及债务人经营所在行业
的一般经济环境估计有关款项。就
此而言，本公司董事认为本集团的
信贷风险已大幅减少。
6. FINANCIAL INSTRUMENTS (CONTINUED)
(b) Financial risk management objectives and
policies (Continued)
Credit risk and impairment asesment
Credit risk refers to the risk that the Group’s
counterparties default on their contractual
obligations resulting in financial loses to the
Group. As at 31 March 2025, the Group’s
maximum exposure to credit risk without taking
into acount any coleterial held or other credit
enhancements, which wil cause a financial
los to the Group due to failure to discharge an
obligation by the counterparties is arising from
the carying amount of the respective recognised
financial asets as stated in the consolidated
statement of financial position.
The credit risk of the Group mainly arises from
trade and other receivables, time deposit and
bank balances. The carying amounts of these
balances represent the Group’s maximum
exposure to credit risk in relation to financial
asets.
In order to minimise the credit risk, the
management of the Group has delegated a
team responsible for determination of credit
limits, credit aprovals and other monitoring
procedures to ensure that folow-up action is
taken to recover overdue debts.
For trade receivables, the Group has aplied
the simplified aproach in HKFRS 9 to measure
the los alowance at lifetime ECL. The Group
determines the ECL colectively by using a
provision matrix, estimated based on historical
credit los experience, as wel as the general
economic conditions of the industry in which the
debtors operate. In this regard, the directors of
the Company consider that the Group’s credit
risk is significantly reduced.
1852024/2025年报 域高国际控股有限公司
FOR THE YEAR ENDED 31 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
- （续）
(b) 财务风险管理目标及政策（续）
信贷风险及减值评估（续）
就按金及其他应收款项而言，本集
团评估初次确认后信贷风险是否大
幅增加。本集团认为该等款项之信
贷风险于初次确认后并无大幅增
加，故基于12个月预期信贷亏损计
提减值。
流动资金之信贷风险有限，因为对
手方均为高信贷评级之银行。
本集团于整个报告期间持续考量初
次确认资产后的违约可能性及信贷
风险是否大幅增加。为了评估信贷
风险是否大幅增加，本集团比较于
报告日期的资产发生违约的风险与
于初次确认日期的违约风险。其会
省览可得的合理及具有凭证的前瞻
性资料。具体而言，下列指标已纳
入：
• 内部信贷评级
• 预期会导致债务人偿还债务
能力出现重大改变的业务、
财务或经济状况实际或预期
重大不利变动
• 债务人的预期表现及行为的
重大变动，包括本集团债务
人的付款状况变动及债务人
经营业绩的变动
6. FINANCIAL INSTRUMENTS (CONTINUED)
(b) Financial risk management objectives and
policies (Continued)
Credit risk and impairment asesment
(Continued)
For deposits and other receivables, the Group
has asesed whether there has ben a
significant increase in credit risk since initial
recognition. The Group considers that there are
no significant increase in credit risk of these
amounts since initial recognition and the Group
provided impairment based on 12m ECL.
The credit risk on liquid funds is limited because
the counterparties are banks with high credit
ratings.
The Group considers the probability of default
upon initial recognition of aset and whether
there has ben a significant increase in credit
risk on an ongoing basis throughout the reporting
period. To ases whether there is a significant
increase in credit risk, the Group compares the
risk of a default ocuring on the aset as at the
reporting date with the risk of default as at the
date of initial recognition. It considers available
reasonable and suportive forward-loking
information. In particular, the folowing indicators
are incorporated:
• internal credit rating
• actual or expected significant adverse
changes in busines, financial or
economic conditions that are expected to
cause a significant change to the debtor’s
ability to met its obligations
• significant changes in the expected
performance and behavior of the debtor,
including changes in the payment status
of debtors in the Group and changes in
the operating results of the debtor
186Vico International Holdings Limited Anual Report 2024/2025
FOR THE YEAR ENDED 31 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
- （续）
(b) 财务风险管理目标及政策（续）
信贷风险及减值评估（续）
本集团面临的信贷风险
为将信贷风险降至最低，本集团已
委派团队制定及维持本集团信贷风
险评级以根据违约风险程度对风险
进行分类。管理层使用其他公开可
得的财务资料及本集团本身的贸易
记录以为其主要客户及其他债务人
评级。本集团面临的风险及其对手
方的信贷评级会持续受到监控及所
完成交易的总价值会在经认可对手
方中分配。
6. FINANCIAL INSTRUMENTS (CONTINUED)
(b) Financial risk management objectives and
policies (Continued)
Credit risk and impairment asesment
(Continued)
The Group’s exposure to credit risk
In order to minimise credit risk, the Group
has tasked a team to develop and maintain
the Group’s credit risk grading to categorise
exposures acording to their degre of risk of
default. The management uses other publicly
available financial information and the Group’s
own trading records to rate its major customers
and other debtors. The Group’s exposure
and the credit ratings of its counterparties are
continuously monitored and the agregate value
of transactions concluded is spread amongst
aproved counterparties.
1872024/2025年报 域高国际控股有限公司
FOR THE YEAR ENDED 31 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
- （续）
(b) 财务风险管理目标及政策（续）
信贷风险及减值评估（续）
本集团面临的信贷风险（续）
本集团的现时信贷风险评级框架包
括以下各类别：
6. FINANCIAL INSTRUMENTS (CONTINUED)
(b) Financial risk management objectives and
policies (Continued)
Credit risk and impairment asesment
(Continued)
The Group’s exposure to credit risk (Continued)
The Group’s curent credit risk grading
framework comprises the folowing categories:
CategoryDescriptionBasis of recognising
ECL
类别描述确认预期信贷亏损的基准
PerformingFor financial asets where there has ben low
risk of default or has not ben a significant
increase in credit risk since initial recognition
and that are not credit impaired (refer to as
Stage 1)
12-month ECL
履约就违约风险低或自初步确认后并无信贷风险大
幅增加及并无信贷减值的财务资产（分为第一
阶段）
12个月预期信贷亏损
DoubtfulFor financial asets where there has ben a
significant increase in credit risk since initial
recognition but that are not credit impaired
(refer to as Stage 2)
Lifetime ECL – not credit
impaired
呆账自初步确认后信贷风险大幅增加但并无信贷减
值的财务资产（分为第二阶段）
全期预期信贷亏损 – 无信
贷减值
DefaultFinancial asets are asesed as credit
impaired when one or more events that have
a detrimental impact on the estimated future
cash flows of that aset have ocured (refer
to as Stage 3)
Lifetime ECL – credit
impaired
违约一项或多项事件发生而对资产的估计未来现金
流产生不利影响，经评估已信贷减值的财务
资产（分为第三阶段）
全期预期信贷亏损 – 信贷
减值
Write-ofThere is evidence indicating that the debtor is
in severe financial dificulty and the Group
has no realistic prospect of recovery
Amount is writen of
撇销存在证据表示债务人处于严重财务困难及本集
团并无实际收回款项的可能
金额已撇销
| Internal credit rating | 12-month or lifetime ECL | Gross carrying amount | Loss allowance | Net carrying amount |
|---|---|---|---|---|
| 内部信贷评级 | 12个月或全期预期信贷亏损 | 账面总值 | 亏损拨备 | 账面净值 |
| HK$’000 | HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | 千港元 | ||
| (Note) | Lifetime ECL (simplified approach) | 37,986 | (1,630) | 36,356 |
| （附注） | 全期预期信贷亏损（简化法） | |||
| Performing | 12-month ECL | 1,119 | (26) | 1,093 |
| 履约 | 12个月预期信贷亏损 | |||
| (1,656) | ||||
188Vico International Holdings Limited Anual Report 2024/2025
FOR THE YEAR ENDED 31 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
- （续）
(b) 财务风险管理目标及政策（续）
信贷风险及减值评估（续）
本集团面临的信贷风险（续）
下表详列按信贷风险评级分类的本
集团财务资产的信贷质素，以及本
集团面临的最大信贷风险。
附注： 就贸易应收款项而言，本集团使用
香港财务报告准则第9号的简化法按
全期预期信贷亏损计量亏损拨备。
6. FINANCIAL INSTRUMENTS (CONTINUED)
(b) Financial risk management objectives and
policies (Continued)
Credit risk and impairment asesment
(Continued)
The Group’s exposure to credit risk (Continued)
The tables below details the credit quality of the
Group’s financial asets, as wel as the Group’s
maximum exposure to credit risk by credit risk
rating grades.
As at 31 March 2025Notes
于二零二五年
三月三十一日附注
Trade receivables20
贸易应收款项
Deposits and other
receivables
按金及其他应收款项
As at 31 March 2024Notes
Internal credit
rating12-month or lifetime ECL
Gros
carying
amount
Los
alowance
Net
carying
amount
于二零二四年
三月三十一日附注内部信贷评级12个月或全期预期信贷亏损账面总值亏损拨备账面净值
HK$’000HK$’000HK$’000
千港元千港元千港元
Trade receivables20(Note)Lifetime ECL
(simplified aproach)
47,284(1,270)46,014
贸易应收款项（附注）全期预期信贷亏损（简化法）
Deposits and other
receivables
20Performing12-month ECL2,791(49)2,742
按金及其他应收款项履约12个月预期信贷亏损
(1,319)
Note: For trade receivables, the Group has aplied the
simplified aproach in HKFRS 9 to measure the los
alowance at lifetime ECL.
1892024/2025年报 域高国际控股有限公司
FOR THE YEAR ENDED 31 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
- （续）
(b) 财务风险管理目标及政策（续）
信贷风险及减值评估（续）
于二零二五年三月三十一日及二
零二四年三月三十一日，本集团
贸易应收款项总额中合共0%（二零
二四年：0%）来自本集团最大外部
客户，及贸易应收款项总额中合共
15%（二零二四年：17%）来自五大
外部客户，故本集团面临信贷风险
集中。
流动资金风险
管理流动资金风险方面，本集团监
察及维持现金及现金等价物于本集
团管理层视为充足的水平，以提供
经营业务所需资金，并减少现金流
波动的影响。本集团管理层监察银
行借贷及透支的使用情况并确保遵
守贷款契约。
下表详述本集团就其非衍生财务负
债的其余合约到期情况。该表格乃
根据财务负债的未贴现金流量，
按照本集团可能须付款的最早日
期划分。非衍生财务负债的到期日
乃根据协定偿款日期而编制。尤其
是，具应要求偿还条款的银行借贷
纳入最早时间范围，不论银行选择
行使其权利的可能性。
6. FINANCIAL INSTRUMENTS (CONTINUED)
(b) Financial risk management objectives and
policies (Continued)
Credit risk and impairment asesment
(Continued)
The Group has concentration of credit risk as
0% (2024: 0%) and 15% (2024: 17%) of the total
trade receivables was due from the Group’s
largest external customer and the top five largest
external customers respectively as at 31 March
2025 and 31 March 2024.
Liquidity risk
In the management of the liquidity risk, the
Group monitors and maintains a level of cash
and cash equivalents demed adequate by
the management of the Group to finance the
operations and mitigate the efects of fluctuations
in cash flows. The management of the Group
monitors the utilisation of bank borowings and
overdrafts and ensures compliance with loan
covenants.
The folowing table details the Group’s remaining
contractual maturity for its non-derivative
financial liabilities. The table has ben drawn
up based on the undiscounted cash flows of
financial liabilities based on the earliest date on
which the Group can be required to pay. The
maturity dates for the non-derivative financial
liabilities are based on the agred repayment
dates. Specificaly, bank borowings with a
repayment on demand clause are included in the
earliest time band regardles of the probability of
the banks chosing to exercise their rights.
| On demand or within one year | After 1 year but within 5 years | Total undiscounted cash flows | Carrying amount |
|---|---|---|---|
| 按要求或 于一年内 | 一年后 但五年内 | 未贴现现金 流量总额 | 账面值 |
| HK$’000 | HK$’000 | HK$’000 | HK$’000 |
| 千港元 | 千港元 | 千港元 | 千港元 |
| 8,026 | – | 8,026 | 8,026 |
| 40,125 | – | 40,125 | 35,220 |
| 48,151 | – | 48,151 | 43,246 |
| 2,182 | 2,831 | 5,013 | 4,823 |
190Vico International Holdings Limited Anual Report 2024/2025
FOR THE YEAR ENDED 31 MARCH 2025 截至二零二五年三月三十一日止年度
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
- （续）
(b) 财务风险管理目标及政策（续）
流动资金风险（续）
该表格包括利息及本金现金流量。
倘利息流量按浮动利率计算，则未
贴现金额按各报告期末的利率曲线
计算得出。
6. FINANCIAL INSTRUMENTS (CONTINUED)
(b) Financial risk management objectives and
policies (Continued)
Liquidity risk (Continued)
The table includes both interest and principal
cash flows. To the extent that interest flows are
floating rate, the undiscounted amount is derived
from interest rate curve at the end of each
reporting period.
As at 31 March 2025
于二零二五年三月三十一日
Trade and other payables贸易及其他应付
款项
Bank borowings and
overdrafts
银行借贷及透支
Lease liabilities租赁负债
As at 31 March 2024
On demand
or within
one year
After 1 year
but within
5 years
Total
undiscounted
cash flows
Carying
amount
于二零二四年三月三十一日
按要求或
于一年内
一年后
但五年内
未贴现金
流量总额账面值
HK$’000HK$’000HK$’000HK$’000
千港元千港元千港元千港元
Trade and other payables贸易及其他应付款项8,879–8,8798,879
Bank borowings银行借贷39,794–39,79434,369
48,673–48,67343,248
Lease liabilities租赁负债792–792790
| 8,157 | 4,091 | 11,815 | 16,062 | 40,125 | 35,220 |
|---|
1912024/2025年报 域高国际控股有限公司
FOR THE YEAR ENDED 31 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
- （续）
(b) 财务风险管理目标及政策（续）
流动资金风险（续）
在上述到期分析内，附带按要求偿
还条款的银行借贷及透支计入「按
要求或一年内」时段。于二零二五
年三月三十一日，该等银行借贷及
透支的账面总值为35,220,000港元
（二零二四年：34,369,000港元）。
考虑到本集团的财务状况，本公司
董事认为银行会行使彼等的酌情权
要求即时还款的机会不大。未承担
银行透支可随时动用，银行可在未
有给予通知下随时终止。
本公司董事相信有关银行借贷及透
支将根据各贷款协议所载的计划还
款日期偿还，详情载列如下。
倘若浮动利率的变动有别于各报告
期末所厘定利率的估计数字，则上
表所载就非衍生财务负债的浮动利
率工具金额或会改变。
6. FINANCIAL INSTRUMENTS (CONTINUED)
(b) Financial risk management objectives and
policies (Continued)
Liquidity risk (Continued)
Bank borowings and overdrafts with a
repayment on demand clause are included in
the “on demand or within one year” time band
in the above maturity analysis. At 31 March
2025, the agregate carying amounts of these
bank borowings and overdrafts amounted to
HK$35,220,000 (2024: HK$34,369,000). Taking
into acount the Group’s financial position,
the directors of the Company do not believe
that it is probable that the banks wil exercise
their discretionary rights to demand imediate
repayment. Uncomited bank overdraft
facilities may be drawn at any time and may be
terminated by the bank without notice.
The directors of the Company believe that these
bank borowings and overdrafts wil be repaid in
acordance with the scheduled repayment dates
set out in the respective loan agrements, details
of which are set out below.
Les than
1 year1–2 years2–5 years
Over
5 years
Total
undiscounted
cash outflows
Carying
amount
少于一年一至两年两至五年五年以上
未贴现金
流出总额账面值
HK$’000HK$’000HK$’000HK$’000HK$’000HK$’000
千港元千港元千港元千港元千港元千港元
31 March 2025二零二五年
三月三十一日
31 March 2024二零二四年
三月三十一日4,1374,10312,10719,44739,79434,369
The amounts included above for variable interest
rate instruments for non-derivative financial
liabilities are subject to change if changes in
variable interest rates difer from those estimates
of interest rates determined at the end of each
reporting period.
| 2025 |
|---|
| 二零二五年 |
| HK$’000 |
| 千港元 |
| 1,468,987 |
| 30,985 |
| 39,319 |
| 5,472 |
| 1,544,763 |
| 2025 |
|---|
| 二零二五年 |
| HK$’000 |
| 千港元 |
| 1,544,763 |
192Vico International Holdings Limited Anual Report 2024/2025
FOR THE YEAR ENDED 31 MARCH 2025 截至二零二五年三月三十一日止年度
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
- （续）
(b) 财务风险管理目标及政策（续）
公平值
本公司董事认为在综合财务报表中
使用实际利率法按摊销成本列账之
财务资产及财务负债的账面值与其
公平值相若，因为其即时或短期内
到期。
7. 收益
6. FINANCIAL INSTRUMENTS (CONTINUED)
(b) Financial risk management objectives and
policies (Continued)
Fair value
The directors of the Company consider that the
carying amounts of financial asets and financial
liabilities recorded at amortised cost using the
efective interest rate method in the consolidated
financial statements aproximate their fair values
due to their imediate or short-term maturities.
7. REVENUE
二零二四年
HK$’000
千港元
Revenue from contracts with
customers within the scope of
HKFRS 15
香港财务报告准则第15号的
范围内来自客户合约收益
Disagregated by major products按主要产品划分
Sales of diesel 销售柴油1,511,507
Provision of flet cards service 提供车队咭服务33,475
Sales of lubricant oil 销售润滑油44,427
Sales of others 销售其他产品5,674
1,595,083
二零二四年
HK$’000
千港元
Disagregation of revenue by timing
of recognition
按确认时间划分收益
Timing of revenue recognition收益确认时间
At a point in time于某个时间点1,595,083
1932024/2025年报 域高国际控股有限公司
FOR THE YEAR ENDED 31 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
- （续）
本集团履约责任之资料概述如下：
履约责任于货物及服务交付时履行，一般
需要预付款。
分配至合约剩余履约责任之交易价格
该等合约之原预期限为一年或以下，或
为按本集团有权在交付货物及服务时开具
发票之金额确认收益之合约。因此，本集
团选择了简化实务操作，未披露分配至报
告期末未履行（或部分未履行）履约责任之
交易价格金额。
8. 分部资料
经营分部乃根据主要营运决策人（「主要营
运决策人」）（即本公司执行董事）为分配资
源及评估表现而定期审阅有关本集团组成
部分的内部报告而识别。
具体而言，根据香港财务报告准则第8号
经营分部，本集团可呈报及经营分部如
下：
(i) 销售柴油
(i) 提供车队咭服务
(i) 销售润滑油
(iv) 销售其他产品
7. REVENUE (CONTINUED)
Information about the Group’s performance obligations
is sumarised below:
The performance obligation is satisfied upon delivery
of the gods and services, advance payments are
generaly required.
Transaction price alocated to the remaining
performance obligations for contracts
The contracts are with an original expected duration
of one year or les or contracts for which revenue is
recognised at the amount to which that Group has the
right to invoice for the satisfied upon delivery of gods
and services. Acordingly, the Group has elected the
practical expedient and has not disclosed the amount
of transaction price alocated to the performance
obligations that are unsatisfied (or partialy unsatisfied)
as of the end of the reporting period.
8. SEGMENT INFORMATION
Operating segments are identified on the basis of
internal reports about components of the Group that
are regularly reviewed by the chief operating decision
maker (the “CODM”), being the executive directors of
the Company, for the purposes of alocating resources
and asesing performance.
Specificaly, the Group’s reportable and operating
segments under HKFRS 8 Operating Segments are as
folow:
(i) Sales of diesel
(i) Provision of flet cards service
(i) Sales of lubricant oil
(iv) Sales of others
| Sales of diesel | Provision of fleet cards | Sales of lubricant oil | Sales of others | Total |
|---|---|---|---|---|
| 销售柴油 | 提供车队咭 | 销售润滑油 | 销售其他产品 | 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 |
| 1,468,987 | 30,985 | 39,319 | 5,472 | 1,544,763 |
| 8,703 | 13,146 | 11,992 | 1,322 | 35,163 |
| 1,739 | ||||
| (20,294) | ||||
| (1,186) | ||||
| 15,422 | ||||
194Vico International Holdings Limited Anual Report 2024/2025
FOR THE YEAR ENDED 31 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
- （续）
分部收益及业绩
下文为本集团按可呈报及经营分部划分的
收益及业绩分析。
截至二零二五年三月三十一日止年度
截至二零二四年三月三十一日止年度
8. SEGMENT INFORMATION (CONTINUED)
Segment revenues and results
The folowing is an analysis of the Group’s revenue and
results by reportable and operating segments.
For the year ended 31 March 2025
Segment revenue分部收益
Segment results分部业绩
Other income其他收入
Corporate expenses企业开支
Finance costs融资成本
Profit before tax除税前溢利
For the year ended 31 March 2024
Sales of
diesel
Provision of
flet cards
Sales of
lubricant oil
Sales of
othersTotal
销售柴油提供车队咭销售润滑油销售其他产品总计
HK$’000HK$’000HK$’000HK$’000HK$’000
千港元千港元千港元千港元千港元
Segment revenue分部收益1,511,50733,47544,4275,6741,595,083
Segment results分部业绩5,90516,52214,4332,99739,857
Other income其他收入2,806
Corporate expenses企业开支(19,871)
Finance costs融资成本(1,456)
Profit before tax除税前溢利21,336
| 2025 |
|---|
| 二零二五年 |
| HK$’000 |
| 千港元 |
| 38,266 |
| 25,530 |
| 12,739 |
| 43,703 |
| 120,238 |
| 167,049 |
| 287,287 |
1952024/2025年报 域高国际控股有限公司
FOR THE YEAR ENDED 31 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
- （续）
分部收益及业绩（续）
经营分部的会计政策与本集团的会计政策
（见附注3所述）相同。分部业绩主要指各分
部赚取的除税前溢利（未计及企业职能开
支、其他收入和融资成本）。此乃就分配资
源及评估表现而向主要营运决策人呈报的
计量。
分部资产及负债
下文为本集团按可呈报及经营分部划分的
资产及负债分析：
分部资产
8. SEGMENT INFORMATION (CONTINUED)
Segment revenues and results (Continued)
The acounting policies of the operating segments are
the same as the Group’s acounting policies described
in Note 3. Segment results mainly represented profit
before tax earned by each segment, excluding
expenses of corporate functions, other income and
finance costs. This is the measure reported to the
CODM for the purposes of resource alocation and
performance asesment.
Segment asets and liabilities
The folowing is an analysis of the Group’s asets and
liabilities by reportable and operating segment:
Segment asets
二零二四年
HK$’000
千港元
Sales of diesel销售柴油56,185
Provision of flet cards提供车队咭33,784
Sales of lubricant oil销售润滑油14,445
Sales of others销售其他产品43,966
Total segment asets分部总资产148,380
Corporate and other asets企业及其他资产124,790
Total asets总资产273,170
| 2025 |
|---|
| 二零二五年 |
| HK$’000 |
| 千港元 |
| 6,020 |
| 3,385 |
| 1,225 |
| 188 |
| 10,818 |
| 44,100 |
| 54,918 |
196Vico International Holdings Limited Anual Report 2024/2025
FOR THE YEAR ENDED 31 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
- （续）
分部资产及负债（续）
分部负债
为监察分部表现及在分部间分配资源：
– 除未分配物业、厂房及设备、投资
物业、使用权资产、未分配存款、
预付款项及其他应收款项以及银行
结余及其他企业资产外，所有资产
均分配至经营分部。可呈报分部共
同使用之资产根据各可呈报分部赚
取之收益进行分配；及
– 除未分配其他应付款项及应计费
用、租赁负债、银行借贷及透支、
递延税项负债及其他企业负债外，
所有负债均分配至经营分部。可呈
报分部承担连带责任之负债按比例
分配至分部负债。
8. SEGMENT INFORMATION (CONTINUED)
Segment asets and liabilities (Continued)
Segment liabilities
二零二四年
HK$’000
千港元
Sales of diesel销售柴油6,949
Provision of flet cards提供车队咭2,090
Sales of lubricant oil销售润滑油872
Sales of others销售其他产品107
Total segment liabilities分部总负债10,018
Corporate and other liabilities企业及其他负债43,129
Total liabilities总负债53,147
For the purposes of monitoring segment performance
and alocating resources betwen segments:
– Al asets are alocated to operating segment,
other than unalocated property, plant and
equipment, investment properties, right-of-
use asets, unalocated deposits, prepayments
and other receivables and bank balances and
other corporate asets. Asets used jointly by
reportable segments are alocated on the basis
of the revenues earned by individual reportable
segments; and
– Al liabilities are alocated to operating segments,
other than unalocated other payables and
acruals, lease liabilities, bank borowings
and overdrafts, defered tax liabilities and
other corporate liabilities. Liabilities for which
reportable segments are jointly liable are
alocated in proportion to segment liabilities.
| Sales of diesel | Provision of fleet cards service | Sales of lubricant oil | Sales of others | Unallocated | Total |
|---|---|---|---|---|---|
| 销售柴油 | 提供车队咭 服务 | 销售润滑油 | 销售 其他产品 | 未分配 | 总计 |
| HK$’000 | HK$’000 | HK$’000 | HK$’000 | HK$’000 | HK$’000 |
| 千港元 | 千港元 | 千港元 | 千港元 | 千港元 | 千港元 |
| – | – | – | – | 1,992 | 1,992 |
| 1,631 | – | 44 | 6 | 5,942 | 7,623 |
| – | – | – | – | 309 | 309 |
| 77 | 205 | 71 | 7 | – | 360 |
| – | – | – | – | (23) | (23) |
| – | – | – | – | 488 | 488 |
| – | – | – | – | (564) | (564) |
| – | – | – | – | 1,186 | 1,186 |
| – | – | – | – | 3,076 | 3,076 |
1972024/2025年报 域高国际控股有限公司
FOR THE YEAR ENDED 31 MARCH 2025 截至二零二五年三月三十一日止年度
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
- （续）
其他分部资料
截至二零二五年三月三十一日止年度
8. SEGMENT INFORMATION (CONTINUED)
Other segment information
For the year ended 31 March 2025
Amounts included in the
measure of segment profit
or segment asets
计入分部溢利或分部资产
计量的金额
Depreciation of right-of-use
asets
使用权资产折旧
Depreciation of property, plant
and equipment
物业、厂房及设备折旧
Depreciation of investment
properties
投资物业折旧
Impairment los on trade
receivables, net
贸易应收款项减值亏损净额
Reversal of impairment los
on other receivables
其他应收款项减值
亏损拨回
Impairment los on investment
properties
投资物业减值亏损
Amounts regularly provided to
CODM but not included in
the measure of segment
profit or los or
segment asets:
定期提供予主要营运决策人
但并无计入分部损益或
分部资产计量的金额：
Bank interest income银行利息收入
Finance costs融资成本
Income tax expenses所得税开支
198Vico International Holdings Limited Anual Report 2024/2025
FOR THE YEAR ENDED 31 MARCH 2025 截至二零二五年三月三十一日止年度
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
- （续）
其他分部资料（续）
截至二零二四年三月三十一日止年度
附注： 于截至二零二四年三月三十一日止年度，若
干陈旧存货已售出。因此，已确认存货撇减
拨回约101,000港元并计入销售成本。
8. SEGMENT INFORMATION (CONTINUED)
Other segment information (Continued)
For the year ended 31 March 2024
Sales of
diesel
Provision of
flet cards
service
Sales of
lubricant oil
Sales of
othersUnalocatedTotal
销售柴油
提供车队咭
服务销售润滑油
销售
其他产品未分配总计
HK$’000HK$’000HK$’000HK$’000HK$’000HK$’000
千港元千港元千港元千港元千港元千港元
Amounts included in the
measure of segment profit
or segment asets
计入分部溢利或分部资产
计量的金额
Depreciation of right-of-use
asets
使用权资产折旧
–1,7491,749
Reversal of impairment los
on inventories (Note)
存货减值亏损拨回（附注）
–(101)–(101)
Depreciation of property,
plant and equipment
物业、厂房及设备折旧
1,779–525065,8528,189
Depreciation of investment
properties
投资物业折旧
–322322
(Reversal of) impairment los
on trade receivables, net
贸易应收款项减值亏损（拨回）
净额(2,107)117(301)(11)–(2,302)
Impairment los on
other receivables
其他应收款项减值亏损
–4949
Impairment los on investment
properties
投资物业减值亏损
–318318
Amounts regularly provided to
CODM but not included in
the measure of segment
profit or los or
segment asets:
定期提供予主要营运决策人
但并无计入分部损益或
分部资产计量的金额：
Bank interest income银行利息收入–(495)(495)
Finance costs融资成本–1,4561,456
Income tax expenses所得税开支–4,4034,403
Note: During the year ended 31 March 2024, certain long aged
inventories were sold. As a result, a reversal of write-down of
inventories of aproximately HK$101,000 has ben recognised
and included in cost of sales.
| 2025 |
|---|
| 二零二五年 |
| HK$’000 |
| 千港元 |
| 1,540,175 |
| 1,840 |
| 1,002 |
| – |
| 80 |
| 231 |
| 1,435 |
| 1,544,763 |
| 2025 |
|---|
| 二零二五年 |
| HK$’000 |
| 千港元 |
| 388,831 |
| 205,127 |
| 213,986 |
| 176,121 |
1992024/2025年报 域高国际控股有限公司
FOR THE YEAR ENDED 31 MARCH 2025 截至二零二五年三月三十一日止年度
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
- （续）
地区资料
本集团按客户地点划分来自外部客户的收
益分析呈列如下：
本集团的物业、厂房及设备以及投资物业
仅位于香港。
主要客户的资料
占本集团总收益10%或以上的客户详情如
下：
来自销售柴油及润滑油的收益。
相关收益占本集团总收益不超过10%。
8. SEGMENT INFORMATION (CONTINUED)
Geographical information
An analysis of the Group’s revenue from external
customers is presented based on the location of
customers as below:
二零二四年
HK$’000
千港元
Hong Kong香港1,591,524
Vietnam越南1,210
Dubai杜拜1,833
Korea韩国360
India印度156
Thailand泰国–
Singapore新加坡–
1,595,083
The Group’s property, plant and equipment and
investment properties are solely located in Hong Kong.
Information about major customers
Details of the customers acounting for 10% or more of
agregate revenue of the Group are as folows:
二零二四年
HK$’000
千港元
Customer A
客户A
296,141
Customer B
客户B
254,293
Customer C
客户C
186,418
Customer D
客户D
N/A 不适用
Revenue from sales of diesel and lubricant oil.
The coresponding revenue does not contribute over 10% of
total revenue of the Group.
| 2025 |
|---|
| 二零二五年 |
| HK$’000 |
| 千港元 |
| 564 |
| 321 |
| 698 |
| 155 |
| 1 |
| 1,739 |
200Vico International Holdings Limited Anual Report 2024/2025
FOR THE YEAR ENDED 31 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. 其他收入
附注: 截至二零二五年三月三十一日止年度，本集
团就创新科技署为支援企业使用科技服务及
解决方案提高生产力或升级或改变他们的业
务流程而在创新及科技基金下提供的科技券
计划确认相关的政府补贴214,000港元（二零
二四年：无）。
截至二零二五年三月三十一日止年度，本集
团就运输署为改善路边空气质素而提供的淘
汰欧盟四期柴油商业车辆－特惠资助计划
确认相关的政府补贴107,000港元（二零二四
年：无）。
截至二零二五年三月三十一日止年度，并无
未达成条件或然事项的政府补贴于收取时
确认为其他收入。
9. OTHER INCOME
二零二四年
HK$’000
千港元
Bank interest income银行利息收入495
Government subsidies (Note)政府补贴（附注）–
Gain on disposal of property,
plant and equipment
出售物业、厂房及设备的收益
1,037
Rental income from investment
properties
来自投资物业之租金收入
– Lease payments that are fixed－固定租赁付款1,052
Others其他222
2,806
Note: During the year ended 31 March 2025, the Group recognised
government subsidy of HK$214,000 related to Technology
Voucher Programe provided by the Inovation and
Technology Comision under the Inovation and Technology
Fund to suport enterprises in using technological services
and solutions to improve productivity, or upgrade or transform
their busines proceses (2024: nil).
During the year ended 31 March 2025, the Group recognised
government subsidy of HK$107,000 related to Phasing Out
Euro IV Diesel Comercial Vehicles – Ex-gratia Payment
Scheme provided by Transport Department to improve
roadside air quality (2024: nil).
The government subsidies with no unfulfiled conditions or
contingencies are recognised as other income upon receipts
during the years ended 31 March 2025.
| 2025 |
|---|
| 二零二五年 |
| HK$’000 |
| 千港元 |
| 1,091 |
| 95 |
| 1,186 |
| 2025 |
|---|
| 二零二五年 |
| HK$’000 |
| 千港元 |
| 3,217 |
| 47 |
| 3,264 |
| (188) |
| 3,076 |
2012024/2025年报 域高国际控股有限公司
FOR THE YEAR ENDED 31 MARCH 2025 截至二零二五年三月三十一日止年度
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
10. 融资成本
11. 所得税开支
根据香港利得税的两级利得税率制度，
合资格集团实体之首2百万港元之溢利将
按8.25%之税率纳税，而超过2百万港元之
溢利将按16.5%之税率纳税。不符合两级
利得税率制度的集团实体之溢利将继续
按16.5%的划一税率纳税。因此，合资格
集团实体的香港利得税按估计应课税溢利
首2百万港元的8.25%计算，而超过2百万
港元之估计应课税溢利则按16.5%计算。
10. FINANCE COSTS
二零二四年
HK$’000
千港元
Interest expenses on:以下各项的利息开支：
– Bank borowings and overdrafts－ 银行借贷及透支1,431
– Lease liabilities－ 租赁负债25
1,456
11. INCOME TAX EXPENSE
二零二四年
HK$’000
千港元
Curent income tax即期所得税
Hong Kong Profits Tax香港利得税
– Curent year－ 本年度4,088
– Under/(Over) provision in
prior year
－ 过往年度拨备不足╱
（超额拨备）(468)
3,620
Defered taxation (Note 25)递延税项(附注25）783
4,403
Under the two-tiered profits tax rates regime of Hong
Kong Profits Tax, the first HK$2 milion of profits of
the qualifying group entity wil be taxed at 8.25%, and
profits above HK$2 milion wil be taxed at 16.5%. The
profits of group entities not qualifying for the two-tiered
profits tax rates regime wil continue to be taxed at a flat
rate of 16.5%. Acordingly, the Hong Kong Profits Tax
of the qualifying group entity is calculated at 8.25% on
the first HK$2 milion of the estimated asesable profits
and at 16.5% on the estimated asesable profits above
HK$2 milion.
| 2025 |
|---|
| 二零二五年 |
| HK$’000 |
| 千港元 |
| 15,422 |
| 2,544 |
| 470 |
| (184) |
| 47 |
| (165) |
| 329 |
| – |
| (176) |
| 217 |
| (6) |
| 3,076 |
202Vico International Holdings Limited Anual Report 2024/2025
FOR THE YEAR ENDED 31 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
- （续）
年内所得税开支可与综合损益及其他全面
收益表的除税前溢利对账如下：
附注： 于截至二零二五年三月三十一日止年度，四
间（二零二四年：三间）附属公司就年内享有
1,500港元（二零二四年：3,000港元）的税务优
惠。
递延税项详情载于附注25。
11. INCOME TAX EXPENSE (CONTINUED)
The income tax expense for the year can be reconciled
to the profit before tax per the consolidated statement
of profit or los and other comprehensive income as
folows:
二零二四年
HK$’000
千港元
Profit before tax除税前溢利21,336
Tax calculated at the domestic income
tax rate of 16.5% (2024: 16.5%)
按本地所得税率16.5%
（二零二四年：16.5%）
计算的税项3,520
Tax efect of expenses not deductible
for tax purpose
不可扣税开支的税务影响
1,817
Tax efect of income not taxable for
tax purpose
毋须课税收入的税务影响
(258)
Under/(over) provision in prior year过往年度拨备不足╱
（超额拨备）(468)
Efect of two-tiered profits tax rate
regime
两级利得税率制度的影响
(165)
Efect of deductible temporary
diferences not recognised
未确认可扣税暂时差额的影响
Utilisation of deductible temporary
diferences previously not
recognised
动用先前未确认之可扣税
暂时差额
(413)
Utilisation of tax loses previously not
recognised
动用先前未确认之税项亏损
(250)
Tax loses not recognised未确认税项亏损328
Tax concesion (Note)税务优惠（附注）(9)
Income tax expense for the year年内所得税开支4,403
Note: During the year ended 31 March 2025, four (2024: thre)
subsidiaries entitled tax concesion of HK$1,500 (2024:
HK$3,000) for the year.
Details of the defered taxation are set out in Note 25.
| 2025 |
|---|
| 二零二五年 |
| HK$’000 |
| 千港元 |
| 4,694 |
| 7,156 |
| 263 |
| 12,113 |
| 550 |
| 150 |
| 1,479,898 |
| – |
| 360 |
| (23) |
| 488 |
| 7,623 |
| 309 |
| 1,992 |
| (155) |
| 16 |
| (139) |
2032024/2025年报 域高国际控股有限公司
FOR THE YEAR ENDED 31 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. 年内溢利12. PROFIT FOR THE YEAR
二零二四年
HK$’000
千港元
Profit for the year has ben arived at after
charging (crediting):
年内溢利已扣除（计入）：
Directors’ emoluments (Note 13)董事薪酬（附注13）4,096
Other staf costs:其他员工成本：
Salaries and alowances 薪金及津贴7,535
Contributions to retirement benefit
scheme
退休福利计划供款
Total staf costs员工成本总额11,952
Auditor’s remuneration核数师薪酬
– Audit － 审核550
– Non-audit － 非审核150
Cost of inventories recognised as expenses
(included in cost of sales)
确认为开支的存货成本
（计入销售成本）1,528,311
Reversal of impairment los on inventories
(included in cost of sales)
存货减值亏损拨回（计入销售成本）
(101)
Impairment los/(reversal of impairment
los) on trade receivables, net
(included in administrative and
operating expenses)
贸易应收款项减值亏损╱（减值亏
损拨回）净额（计入行政及
营运开支）
(2,302)
(Reversal of impairment los) Impairment
los on other receivables
(included in administrative and
operating expenses)
其他应收款项（减值亏损拨回）
减值亏损（计入行政及
营运开支）
Impairment los of investment properties
(included in administrative and
operating expenses)
投资物业减值亏损（计入行政及
营运开支）
Depreciation of property, plant and
equipment
物业、厂房及设备的折旧
8,189
Depreciation of investment properties投资物业的折旧322
Depreciation of right-of-use asets使用权资产的折旧1,749
Gros rental income from investment
properties
来自投资物业之租金收入总额
(1,052)
Les: direct operating expenses incured
for investment properties that
generated rental income during
the year
减： 年内产生租金收入的投资物业
所产生的直接营运开支
(1,010)
| Directors’ fees | Salaries and other benefits | Retirement benefit scheme contributions | Total |
|---|---|---|---|
| 董事袍金 | 薪金及 其他福利 | 退休福利 计划供款 | 总计 |
| HK$’000 | HK$’000 | HK$’000 | HK$’000 |
| 千港元 | 千港元 | 千港元 | 千港元 |
| – | 1,235 | – | 1,235 |
| – | 1,235 | 18 | 1,253 |
| – | 1,235 | 18 | 1,253 |
| – | 545 | 18 | 563 |
| – | – | – | – |
| 150 | – | – | 150 |
| 120 | – | – | 120 |
| 120 | – | – | 120 |
| 390 | 4,250 | 54 | 4,694 |
204Vico International Holdings Limited Anual Report 2024/2025
FOR THE YEAR ENDED 31 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. 董事及雇员酬金
(a) 董事及最高行政人员的酬金
于年内向八名（二零二四年：九名）
本公司董事及本集团行政总裁（「行
政总裁」）已付或应付的酬金如下：
截至二零二五年三月三十一日止年
度
13. DIRECTORS’ AND EMPLOYES’
EMOLUMENTS
(a) Directors’ and chief executive’s emoluments
The emoluments paid or payable to each of the
eight (2024: nine) directors of the Company and
the chief executive oficer (“CEO”) of the Group
during the year were as folows:
For the year ended 31 March 2025
Emoluments paid or receivable in
respect of director’s other services
in conection with the management
of the afairs of the Company
and its subsidiaries
董事就管理本公司及其附属公司
事务的其他服务已获支付或
应收的酬金
Executive directors执行董事
Mr. Hui许先生
Ms. Tong汤女士
Mr. Eric Hui许业豪先生
Mr. Kong Man Ho (“Mr. Kong”)江文豪先生（「江先生」）
Emoluments paid or receivable in
respect of a person’s services as a
director, whether of the Company or
its subsidiaries
一名人士就担任董事（无论为
本公司或其附属公司之董事）
之服务已获支付或应收的酬金
Non-executive director非执行董事
Mr. Wong Chun Man王俊文先生
Independent non-executive directors独立非执行董事
Mr. Leung Ho Chi梁浩志先生
Mr. Chan Ching Sum陈政深先生
Ms. Ng Wing Sze Vince (Note i)吴颖思女士（附注i）
2052024/2025年报 域高国际控股有限公司
FOR THE YEAR ENDED 31 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
- （续）
(a) 董事及最高行政人员的酬金（续）
上表所示执行董事的酬金乃就与本
集团事务管理有关的服务而提供。
截至二零二四年三月三十一日止年
度
13. DIRECTORS’ AND EMPLOYES’
EMOLUMENTS (CONTINUED)
(a) Directors’ and chief executive’s emoluments
(Continued)
The executive directors’ emoluments shown
above were for their services in conection with
the management of the afairs of the Group.
For the year ended 31 March 2024
Directors’
fes
Salaries
and other
benefits
Retirement
benefit
scheme
contributionsTotal
董事袍金
薪金及
其他福利
退休福利
计划供款总计
HK$’000HK$’000HK$’000HK$’000
千港元千港元千港元千港元
Emoluments paid or receivable in
respect of director’s other services
in conection with the management
of the afairs of the Company and its
subsidiaries
董事就管理本公司及其附属公司
事务的其他服务已获支付或
应收的酬金
Executive directors执行董事
Mr. Hui许先生–975–975
Ms. Tong汤女士–97518993
Mr. Eric Hui许业豪先生–97518993
Mr. Kong江先生–53418552
Emoluments paid or receivable in
respect of a person’s services as a
director, whether of the Company or
its subsidiaries
一名人士就担任董事（无论为
本公司或其附属公司之董事）之
服务已获支付或应收的酬金
Non-executive director非执行董事
Mr. Wong Chun Man王俊文先生120–120
Independent non-executive directors独立非执行董事
Mr. Leung Ho Chi梁浩志先生150–150
Mr. Tse Yung Hoi (Note i)谢涌海先生（附注i）183–183
Mr. Chan Ching Sum陈政深先生120–120
Ms. Ng Wing Sze Vince (Note i)吴颖思女士（附注i）10–10
5833,459544,096
| 2025 |
|---|
| 二零二五年 |
| HK$’000 |
| 千港元 |
| 528 |
| 18 |
| 546 |
| 2025 |
|---|
| 二零二五年 |
| No. of employee |
| 雇员人数 |
| 1 |
206Vico International Holdings Limited Anual Report 2024/2025
FOR THE YEAR ENDED 31 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
- （续）
(a) 董事及最高行政人员的酬金（续）
附注：
i) 于二零二四年三月一日辞任
i) 于二零二四年三月一日获委任
(b) 雇员酬金
年内，本集团五名最高薪酬雇员包
括四名（二零二四年：四名）董事，
其薪酬详情载于上文。余下一名
（二零二四年：一名）既非董事亦非
本公司行政总裁之最高薪酬雇员之
年内薪酬详情如下：
非本公司董事的最高薪酬雇员中介
乎以下薪酬范围的人数如下：
13. DIRECTORS’ AND EMPLOYES’
EMOLUMENTS (CONTINUED)
(a) Directors’ and chief executive’s emoluments
(Continued)
Notes:
i) Resigned on 1 March 2024
i) Apointed on 1 March 2024
(b) Employes’ emoluments
The five highest paid employes of the Group
during the year included four (2024: four)
directors, details of whose remuneration are set
out above. Details of the remuneration for the
year of the remaining one (2024: one) highest
paid employe who is neither a director nor chief
executive of the Company is as folows:
二零二四年
HK$’000
千港元
Salaries and other benefits薪金及其他福利538
Retirement benefit scheme
contributions
退休福利计划供款
The number of the highest paid employe who
is not the directors of the Company whose
remuneration fel within the folowing bands is as
folows:
二零二四年
No. of
employe
雇员人数
Nil to HK$1,000,000零至1,000,000港元1
2072024/2025年报 域高国际控股有限公司
FOR THE YEAR ENDED 31 MARCH 2025 截至二零二五年三月三十一日止年度
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
- （续）
(b) 雇员酬金（续）
于截至二零二五年及二零二四年三
月三十一日止年度，概无表现挂钩
奖励付款。
于截至二零二五年及二零二四年三
月三十一日止年度，本集团概无向
五名最高薪酬人士或本公司任何董
事或行政总裁支付酬金，作为加入
或于加入本集团后的奖励付款或作
为离职补偿。
14. 股息
概无于二零二五年向本公司普通股东派
发或拟派股息，自报告期末以来亦无提议
拟派任何股息（二零二四年：无）。
13. DIRECTORS’ AND EMPLOYES’
EMOLUMENTS (CONTINUED)
(b) Employes’ emoluments (Continued)
There were no performance related incentive
payments during the years ended 31 March
2025 and 2024.
No emoluments were paid by the Group to
the five highest paid individuals or any of the
directors or CEO of the Company as an incentive
payment to join or upon joining the Group, or as
compensation for los of ofice during the years
ended 31 March 2025 and 2024.
14. DIVIDEND
No dividend was paid or proposed for ordinary
shareholders of the Company during 2025, nor has any
dividend ben proposed since the end of the reporting
period (2024: nil).
| 2025 |
|---|
| 二零二五年 |
| HK$’000 |
| 千港元 |
| 12,346 |
| 1,000,000,000 |
208Vico International Holdings Limited Anual Report 2024/2025
FOR THE YEAR ENDED 31 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. 每股盈利
本公司拥有人应占每股基本及摊薄盈利乃
基于下列各项计算：
由于截至二零二五年及二零二四年三月三
十一日止年度内并无发行在外的摊薄性潜
在普通股，故每股摊薄盈利与每股基本盈
利相同。
15. EARNINGS PER SHARE
The calculation of basic and diluted earnings per share
atributable to owners of the Company is based on the
folowing:
二零二四年
HK$’000
千港元
Earnings:盈利：
Earnings for the purpose of basic and
diluted earnings per share
用于计算每股基本及摊薄盈利
之盈利16,933
Number of shares:股份数目：
Weighted average number of ordinary
shares for the purpose of basic and
diluted earnings per share
用于计算每股基本及摊薄盈利
之普通股加权平均数
1,000,000,000
The diluted earnings per share is equal to the basic
earnings per share as there were no dilutive potential
ordinary shares outstanding during the years ended 31
March 2025 and 2024.
| 142,754 | 5,389 | 5,232 | 803 | 14,693 | 168,871 |
|---|
| 28,854 | 5,188 | 4,758 | 623 | 11,675 | 51,098 |
|---|---|---|---|---|---|
| 113,900 | 201 | 474 | 180 | 3,018 | 117,773 |
2092024/2025年报 域高国际控股有限公司
FOR THE YEAR ENDED 31 MARCH 2025 截至二零二五年三月三十一日止年度
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
- 、厂房及设备16. PROPERTY, PLANT AND EQUIPMENT
Leasehold
land and
buildings
Leasehold
improvements
Furniture,
fixtures and
equipment
Computer
hardware
and
software
Motor
vehiclesTotal
租赁土地
及楼宇租赁装修
家具、装置
及设备
电脑硬件
及软件汽车总计
HK$’000HK$’000HK$’000HK$’000HK$’000HK$’000
千港元千港元千港元千港元千港元千港元
COST成本
At 1 April 2023于二零二三年四月一日78,2635,3895,02780315,284104,766
Aditions添置–18–1,3751,393
Transfered from investment
properties
转拨自投资物业
64,491–64,491
Disposals出售–(2,077)(2,077)
At 31 March 2024 and
1 April 2024
于二零二四年三月三十一日及
二零二四年四月一日142,7545,3895,04580314,582168,573
Aditions添置–187–2,0722,259
Disposals出售–(1,961)(1,961)
At 31 March 2025于二零二五年三月三十一日
ACUMULATED
DEPRECIATION
累计折旧
At 1 April 2023于二零二三年四月一日13,6504,1724,01630111,84533,984
Transfered from investment
properties
转拨自投资物业
4,991–4,991
Provided for the year年内拨备5,1056414441611,8388,189
Eliminated on disposals出售时对销–(1,923)(1,923)
At 31 March 2024 and
1 April 2024
于二零二四年三月三十一日及
二零二四年四月一日23,7464,8134,46046211,76045,241
Provided for the year年内拨备5,1083752981611,6817,623
Eliminated on disposals出售时对销–(1,766)(1,766)
At 31 March 2025于二零二五年三月三十一日
CARYING VALUES账面值
At 31 March 2025于二零二五年三月三十一日
At 31 March 2024于二零二四年三月三十一日119,0085765853412,822123,332
210Vico International Holdings Limited Anual Report 2024/2025
FOR THE YEAR ENDED 31 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
- 、厂房及设备（续）
上述物业、厂房及设备项目于估计可使用
年期内按直线基准折旧如下：
于二零二五年三月三十一日，本集团质
押其账面值为113,900,000港元（二零二四
年：119,008,000港元）的租赁土地及楼
宇，作为其银行借贷的抵押。
该租赁土地及楼宇位于香港。
16. PROPERTY, PLANT AND EQUIPMENT
(CONTINUED)
The above items of property, plant and equipment are
depreciated on a straight-line basis over their estimated
useful lives as folows:
Leasehold land and buildingsOver the term of the relevant lease
租赁土地及楼宇超过有关租赁期
Leasehold improvementsOver the shorter of the term of the relevant lease or 5 years
租赁装修超过有关租赁期或五年（以较短者为准）
Furniture, fixtures and equipmentOver 5 years
家具、装置及设备超过五年
Computer hardware and softwareOver 5 years
电脑硬件及软件超过五年
Motor vehiclesOver 3 to 5 years
汽车超过三至五年
As at 31 March 2025, the Group pledged its
leasehold land and buildings with carying values of
HK$113,900,000 (2024: HK$119,008,000) to secure its
bank borowings.
The leasehold land and buildings are located in Hong
Kong.
| 8,776 |
|---|
| 2,376 |
|---|
| 6,400 |
2112024/2025年报 域高国际控股有限公司
FOR THE YEAR ENDED 31 MARCH 2025 截至二零二五年三月三十一日止年度
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
17. INVESTMENT PROPERTIES
HK$’000
千港元
COST成本
At 31 March 2023 and 1 April 2023于二零二三年三月三十一日及
二零二三年四月一日73,267
Transfered to property, plant and equipment转拨至物业、厂房及设备(64,491)
At 31 March 2024, 1 April 2024 and
31 March 2025
于二零二四年三月三十一日、
二零二四年四月一日及
二零二五年三月三十一日
ACUMULATED DEPRECIATION AND
IMPAIRMENT
累计折旧及减值
At 31 March 2023 and 1 April 2023于二零二三年三月三十一日及
二零二三年四月一日5,930
Transfered to property, plant and equipment转拨至物业、厂房及设备(4,991)
Impairment los recognised in profit or los损益内确认之减值亏损318
Provided for the year年内拨备322
At 31 March 2024 and 1 April 2024于二零二四年三月三十一日及
二零二四年四月一日1,579
Impairment los recognised in profit or los损益内确认之减值亏损488
Provided for the year年内拨备309
At 31 March 2025于二零二五年三月三十一日
CARYING VALUES账面值
At 31 March 2025于二零二五年三月三十一日
At 31 March 2024于二零二四年三月三十一日7,197
17. 投资物业
212Vico International Holdings Limited Anual Report 2024/2025
FOR THE YEAR ENDED 31 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
- （续）
本集团投资物业于二零二五年三月三十一
日的公平值约为6,400,000港元（二零二四
年：7,200,000港元）。公平值乃根据与本
集团并无关连的独立估值师AP Apraisal
Limited（二零二四年：AP Apraisal
Limited）进行的估值厘定。估值乃参考类
似地点及状况的类似物业的近期市价厘
定，并分类为公平值层级的第三级。
于估计物业的公平值时，物业的最高及最
佳用途为其现时用途。
于截至二零二四年三月三十一日止年度，
由于用途改变，本集团已将账面值约
59,500,000港元的两个物业由投资物业转
拨至物业、厂房及设备，由业主开始占用
作业主自用证明。
上述投资物业以直线法按以下年利率折
旧：
于二零二五年三月三十一日，本集团已
质押其账面值为6,400,000港元（二零二四
年：7,197,000港元）的投资物业，作为其
银行借贷的担保。
17. INVESTMENT PROPERTIES (CONTINUED)
The fair value of the Group’s investment properties as
at 31 March 2025 was aproximately HK$6,400,000
(2024: HK$7,200,000). The fair value has ben arived
at based on a valuation caried out by AP Apraisal
Limited (2024: AP Apraisal Limited), an independent
valuer not conected with the Group. The valuation was
determined by reference to recent market prices for
similar properties in the similar locations and conditions
and is categorised as level 3 of the fair value hierarchy.
In estimating the fair value of the properties, the highest
and best use of the properties is their curent use.
During the year ended 31 March 2024, the Group
has transfered two properties with carying amount
of aproximately HK$59,500,000 from investment
properties to property, plant and equipment due to the
change in use, which is evidenced by comencement
of owner ocupation with a view to owner ocupation.
The above investment properties are depreciated on a
straight-line basis at the folowing rates per anum:
Leasehold land and buildingsOver the term of the lease
租赁土地及楼宇按租赁年期按租赁年期
As at 31 March 2025, the Group pledged its investment
properties with carying values of HK$6,400,000 (2024:
HK$7,197,000) to secure its bank borowings.
| 2025 |
|---|
| 二零二五年 |
| HK$’000 |
| 千港元 |
| 4,791 |
2132024/2025年报 域高国际控股有限公司
FOR THE YEAR ENDED 31 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
18. 使用权资产及租赁负债
(i) 使用权资产
于两个年度内，本集团租赁各类办公室及
仓库用于其运营。租赁合同以固定租期2
至3年订立（二零二四年：2至3年），惟可
能附带下文所述的续租及终止选择权。租
赁条款乃在个别基础上磋商，包括不同条
款及条件。于厘定租期及评估不可撤回期
间的长度时，本集团应用合同的定义并厘
定合同可强制执行的期间。
于截至二零二五年三月三十一日止年度，
因新租赁办公室及仓库的使用权资产新增
6,119,000港元（二零二四年：无）。
18. RIGHT-OF-USE ASETS AND LEASE
LIABILITIES
(i) Right-of-use asets
二零二四年
HK$’000
千港元
Buildings楼宇664
For both years, the Group leases various ofices
and warehouses for its operations. Lease
contracts are entered into for fixed term of 2
to 3 years (2024: 2 to 3 years), but may have
extension and termination options as described
below. Lease terms are negotiated on an
individual basis and contain diferent terms and
conditions. In determining the lease term and
asesing the length of the non-cancelable
period, the Group aplies the definition of a
contract and determines the period for which the
contract is enforceable.
During the year ended 31 March 2025, new
adition of HK$6,119,000 to the right-of-
use asets due to new leases of ofices and
warehouse (2024: nil).
- （续）
本集团投资物业于二零二五年三月三十一
日的公平值约为6,400,000港元（二零二四
年：7,200,000港元）。公平值乃根据与本
集团并无关连的独立估值师AP Apraisal
Limited（二零二四年：AP Apraisal
Limited）进行的估值厘定。估值乃参考类
似地点及状况的类似物业的近期市价厘
定，并分类为公平值层级的第三级。
于估计物业的公平值时，物业的最高及最
佳用途为其现时用途。
于截至二零二四年三月三十一日止年度，
由于用途改变，本集团已将账面值约
59,500,000港元的两个物业由投资物业转
拨至物业、厂房及设备，由业主开始占用
作业主自用证明。
上述投资物业以直线法按以下年利率折
旧：
于二零二五年三月三十一日，本集团已
质押其账面值为6,400,000港元（二零二四
年：7,197,000港元）的投资物业，作为其
银行借贷的担保。
| 2025 |
|---|
| 二零二五年 |
| HK$’000 |
| 千港元 |
| 2,764 |
| 2,059 |
| 4,823 |
| 2025 |
|---|
| 二零二五年 |
| HK$’000 |
| 千港元 |
| 2,059 |
| 1,945 |
| 819 |
| 4,823 |
| (2,059) |
| 2,764 |
214Vico International Holdings Limited Anual Report 2024/2025
FOR THE YEAR ENDED 31 MARCH 2025 截至二零二五年三月三十一日止年度
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
- （续）
(i) 租赁负债
租赁负债应付款项
18. RIGHT-OF-USE ASETS AND LEASE
LIABILITIES (CONTINUED)
(i) Lease liabilities
二零二四年
HK$’000
千港元
Non-curent非即期–
Curent即期790
Amount payable under lease liabilities
二零二四年
HK$’000
千港元
Within 1 year一年内790
After 1 year but within 2 years一年后但两年内–
After 2 years but within 5 years两年后但五年内–
Les: Amount due for setlement
within 12 months
(shown under curent
liabilities)
减： 12个月内到期结算金额
（于流动负债项下列示）
(790)
Amount due for setlement after
12 months
12个月后到期结算金额
–
| 2025 |
|---|
| 二零二五年 |
| HK$’000 |
| 千港元 |
| 1,992 |
| 95 |
2152024/2025年报 域高国际控股有限公司
FOR THE YEAR ENDED 31 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
- （续）
(i) 租赁负债（续）
本集团就办公室及仓库订有租赁安
排。截至二零二五年三月三十一日
止年度，适用于租赁负债的加权平
均承租人增量借贷年利率为3.1%
（二零二四年：年利率2.4%）。
于截至二零二五年三月三十一日止
年度，因新租赁办公室及仓库添置
租赁负债为6,119,000港元（二零二
四年：无）。
(i) 于损益内确认金额
18. RIGHT-OF-USE ASETS AND LEASE
LIABILITIES (CONTINUED)
(i) Lease liabilities (Continued)
The Group has lease arangements for ofices
and warehouses. The weighted average lese’s
incremental borowing rates aplied to the lease
liabilities was 3.1% per anum (2024: 2.4% per
anum) for the year ended 31 March 2025.
During the year ended 31 March 2025, adition
of HK$6,119,000 to the lease liabilities due to
new leases of ofices and warehouses (2024:
nil).
(i) Amounts recognised in profit or los
二零二四年
HK$’000
千港元
Depreciation expense on right
of-use asets
使用权资产折旧开支
– Buildings– 楼宇1,749
Interest expense on lease
liabilities
租赁负债利息开支
| 2025 |
|---|
| 二零二五年 |
| HK$’000 |
| 千港元 |
| 508 |
| 10,363 |
| 10,871 |
216Vico International Holdings Limited Anual Report 2024/2025
FOR THE YEAR ENDED 31 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
- （续）
(iv) 其他
截至二零二五年三月三十一日
止年度，租赁现金流出总额约
为2,181,000港元（二零二四年：
1,762,000港元）。
19. 存货
截至二零二四年三月三十一日止年度，
约101,000港元的存货（已于过往年度悉数
减值）已按超过101,000港元的代价出售。
因此，已确认存货减值拨回约101,000港
元。
18. RIGHT-OF-USE ASETS AND LEASE
LIABILITIES (CONTINUED)
(iv) Others
During the year ended 31 March 2025, the total
cash outflow for leases amount to aproximately
HK$2,181,000 (2024: HK$1,762,000).
19. INVENTORIES
二零二四年
HK$’000
千港元
Raw materials原材料572
Finished gods制成品11,030
11,602
During the year ended 31 March 2024, inventories of
aproximately HK$101,000 which was fuly impaired
in prior years were sold at a consideration above
HK$101,000. As a result, reversal of impairment
on inventories of aproximately HK$101,000 was
recognised.
| 2025 |
|---|
| 二零二五年 |
| HK$’000 |
| 千港元 |
| 37,986 |
| (1,630) |
| 36,356 |
| 25,240 |
| 830 |
| 673 |
| 26,743 |
| (26) |
| 26,717 |
| 63,073 |
2172024/2025年报 域高国际控股有限公司
FOR THE YEAR ENDED 31 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. 贸易及其他应收款项
于二零二五年三月三十一日，与客户合约
产生之贸易应收款项总额约为37,986,000
港元（二零二四年：47,284,000港元）。
本集团向其贸易客户提供平均介乎15至30
日（二零二四年：15至30日）的信贷期。下
文为于报告期末根据发票日期（与各项收益
确认日期相若）呈列的贸易应收款项（扣除
减值拨备）账龄分析。
20. TRADE AND OTHER RECEIVABLES
二零二四年
HK$’000
千港元
Trade receivables贸易应收款项47,284
Les: alowance for impairment of trade
receivables
减：贸易应收款项减值拨备
(1,270)
46,014
Trade deposits paid已付贸易按金41,343
Deposits and prepayments按金及预付款项438
Receivables due from supliers应收供应商款项2,602
44,383
Les: alowance for impairment of other
receivables
减：其他应收款项减值拨备
(49)
44,334
90,348
As at 31 March 2025, the gros amount of trade
receivables arising from contracts with customers
amounted to aproximately HK$37,986,000 (2024:
HK$47,284,000).
The Group alows an average credit period of 15 to
30 days (2024: 15 to 30 days) to its trade customers.
The folowing is an aged analysis of trade receivables
net of alowance for impairment presented based on
the invoice dates, which aproximate the respective
revenue recognition dates, at the end of the reporting
period.
| 2025 |
|---|
| 二零二五年 |
| HK$’000 |
| 千港元 |
| 35,620 |
| 391 |
| 12 |
| 333 |
| 36,356 |
218Vico International Holdings Limited Anual Report 2024/2025
FOR THE YEAR ENDED 31 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
- （续）
本集团持续对其客户进行信贷评估，并根
据付款记录及按审阅客户现有信贷资料所
厘定的客户现时信誉而调整信贷限额。本
集团持续监察追收客户的款项及客户付
款。
本集团就有关贸易应收款项减值亏损制定
政策。本集团于各报告期末审阅各单项贸
易债务的可收回金额以确保就不可收回金
额作出足够的减值亏损。
20. TRADE AND OTHER RECEIVABLES
(CONTINUED)
二零二四年
HK$’000
千港元
0 to 30 days0至30日41,945
31 to 60 days31至60日495
61 to 90 days61至90日33
Over 90 days超过90日3,541
46,014
The Group performs ongoing credit evaluations of
its customers and credit limits based on payment
history and the customer’s curent credit-worthines,
as determined by the review of their curent credit
information. The Group continuously monitors
colections and payments from its customers.
The Group has policy regarding impairment loses on
trade receivables. The Group reviews the recoverable
amount of each individual trade debt at the end of each
reporting period to ensure that adequate impairment
loses are made for irecoverable amounts.
2192024/2025年报 域高国际控股有限公司
FOR THE YEAR ENDED 31 MARCH 2025 截至二零二五年三月三十一日止年度
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
- （续）
本集团按相当于全期预期信贷亏损的金额
计量贸易应收款项的亏损拨备。贸易应收
款项的预期信贷亏损乃基于贸易应收款项
的信贷风险特征及账龄采用拨备矩阵予以
评估。于计算预期信贷亏损率时，本集团
会考虑历史亏损率并就前瞻性因素作出调
整。
董事认为，根据该等客户的良好还款记录
及与本集团的持续业务关系，于报告期末
逾期超过90日的贸易应收款项并未被视为
违约。
本集团根据个别重大客户或个别不重大客
户集体的账龄，就贸易应收款项确认全期
预期信贷亏损，具体如下：
20. TRADE AND OTHER RECEIVABLES
(CONTINUED)
The Group measures the los alowance for trade
receivables at an amount equal to lifetime ECL. The ECL
on trade receivables are asesed by using a provision
matrix based on the credit risk characteristic and the
ageing of trade receivables. The Group considers the
historical los rates and adjusts for forward loking
factors in calculating the ECL rates.
In the opinion of the Directors, the trade receivables
at the end of the reporting period which have ben
past due over 90 days are not considered as in default
based on god repayment records for those customers
and continuous busines relationship with the Group.
The Group recognised lifetime ECL for trade receivables
based on individualy significant customer or the aging
of customers colectively that are not individualy
significant as folows:
As at 31 March 2025
Weighted
average
expected
los rate
Gros
carying
amount
Los
alowance
于二零二五年三月三十一日
加权平均
预期亏损率账面总值亏损拨备
HK$’000HK$’000
千港元千港元
Not pas due未逾期3.6%34,6121,237
30 days, past due逾期30日11.5%2,538293
31 to 60 days, past due逾期31至60日9.5%43342
61 to 90 days, past due逾期61至90日14.6%142
Over 90 days, past due逾期超过90日14.3%38956
37,9861,630
| 2025 |
|---|
| 二零二五年 |
| HK$’000 |
| 千港元 |
| 1,270 |
| 360 |
| 1,630 |
220Vico International Holdings Limited Anual Report 2024/2025
FOR THE YEAR ENDED 31 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
- （续）
贸易应收款项减值拨备的变动载列如下：
其他应收款项及按金的预期信贷亏损评估
载于附注6。
20. TRADE AND OTHER RECEIVABLES
(CONTINUED)
As at 31 March 2024
Weighted
average
expected
los rate
Gros
carying
amount
Los
alowance
于二零二四年三月三十一日
加权平均
预期亏损率账面总值亏损拨备
HK$’000HK$’000
千港元千港元
Not pas due未逾期2.2%41,756911
30 days, past due逾期30日5.5%1,16464
31 to 60 days, past due逾期31至60日5.6%52530
61 to 90 days, past due逾期61至90日6.0%352
Over 90 days, past due逾期超过90日6.9%3,804263
47,2841,270
The movement in the alowance for impairment of trade
receivables is set out below:
二零二四年
HK$’000
千港元
At the begining of the year于年初3,572
Impairment loses (reversal of
impairment loses) recognised on
trade receivables
就贸易应收款项已确认减值亏
损（减值亏损拨回）
(2,302)
1,270
The asesments on ECL of other receivables and
deposits are set out in Note 6.
| 2025 | 2025 | |
|---|---|---|
| 二零二五年 | 二零二五年 | |
| HK$’000 | HK$’000 | |
| 千港元 | 千港元 | |
| 72 | ||
| 87 | 87 | |
2212024/2025年报 域高国际控股有限公司
FOR THE YEAR ENDED 31 MARCH 2025 截至二零二五年三月三十一日止年度
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
21. 应收最终控股公司款项
应收最终控股公司款项详情如下：
该款项为非贸易性质、无抵押、免息及须
按要求偿还。
21. AMOUNT DUE FROM ULTIMATE HOLDING
COMPANY
Details of amount due from ultimate holding company
are as folows:
As at 31 March
Maximum amount
During the year ended
31 March
于三月三十一日
截至三月三十一日止年度最
高金额
二零二四年
HK$’000
千港元
Max Fortune骏朗72
The amount is non-trade related, unsecured, interest-
fre and repayable on demand.
| 2025 |
|---|
| 二零二五年 |
| HK$’000 |
| 千港元 |
| 62,212 |
| (4,033) |
| 58,179 |
222Vico International Holdings Limited Anual Report 2024/2025
FOR THE YEAR ENDED 31 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
- ╱现金及现金等价物
定期存款
于二零二五年三月三十一日，原到期日超
过三个月的银行存款约20,802,000港元（二
零二四年：5,791,000港元）按浮动年利率
介乎3.20%至3.69%（二零二四年：4.25%
至4.40%）计息。
现金及现金等价物
银行结余包括银行现金及原到期日为三个
月或以下的短期银行存款。于二零二五年
三月三十一日的银行结余按当前市场年利
率介乎0.001%至0.375%（二零二四年：
0.001%至3.50%）计息。
22. TIME DEPOSIT/CASH AND CASH
EQUIVALENTS
Time deposit
As at 31 March 2025, deposit with a bank of
aproximately HK$20,802,000 (2024: HK$5,791,000),
with original maturity of more than thre months, caried
interest at variable interest rates ranging from 3.20% to
3.69% (2024: 4.25% to 4.40%) per anum.
Cash and cash equivalents
The bank balances comprised cash at banks and short-
term bank deposits with an original maturity of thre
months or les. The bank balances at 31 March 2025
caried interest at the prevailing market rate from 0.001%
to 0.375% (2024: 0.001% to 3.50%) per anum.
二零二四年
HK$’000
千港元
Cash and cash equivalents in the
consolidated statement of financial
position
综合财务状况表内之现金及
现金等价物
34,160
Bank overdrafts (Note 24)银行透支（附注24）–
Cash and cash equivalents in the
consolidated statement of cash flow
综合现金流量表内之现金及
现金等价物34,160
| 2025 |
|---|
| 二零二五年 |
| HK$’000 |
| 千港元 |
| 509 |
| 3,138 |
| 390 |
| 7,127 |
| 11,164 |
| 2025 |
|---|
| 二零二五年 |
| HK$’000 |
| 千港元 |
| 509 |
2232024/2025年报 域高国际控股有限公司
FOR THE YEAR ENDED 31 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. 贸易及其他应付款项
附注： 于报告期末，按发票日期呈列的贸易应付款
项的账龄分析如下：
购买商品的平均信贷期介乎30至60日。
23. TRADE AND OTHER PAYABLES
二零二四年
HK$’000
千港元
Trade payables (Note)贸易应付款项（附注）275
Trade deposits received已收贸易按金1,503
Acrued directors’ emoluments应计董事薪酬400
Other payables and acruals其他应付款项及应计费用8,204
10,382
Note: The aging analysis of trade payables presented based on the
invoice dates at the end of the reporting period is as folows:
二零二四年
HK$’000
千港元
0 to 30 days0至30日275
The average credit period on purchase of gods is from 30
days to 60 days.
| 2025 |
|---|
| 二零二五年 |
| HK$’000 |
| 千港元 |
| 4,033 |
| 31,187 |
| 35,220 |
| 7,331 |
| 3,356 |
| 10,170 |
| 14,363 |
| 35,220 |
| (27,889) |
| (7,331) |
| (35,220) |
| – |
224Vico International Holdings Limited Anual Report 2024/2025
FOR THE YEAR ENDED 31 MARCH 2025 截至二零二五年三月三十一日止年度
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
24. 银行借贷及透支24. BANK BOROWINGS AND OVERDRAFTS
二零二四年
HK$’000
千港元
Fixed-rate bank overdrafts:定息银行透支：
Unsecured无抵押–
Variable-rate bank borowings:浮息银行借贷：
Secured and guaranted有抵押及有担保34,369
Total borowings借贷总额34,369
Bank borowings and overdrafts repayable
(based on scheduled repayment dates
set out in the loan agrements):
须于以下期间偿还的银行借贷及
透支（根据贷款协议所载的
计划偿还日期）：
Within one year一年内3,242
More than one year but not exceding
two years
超过一年但不超过两年
3,298
More than two years but not exceding
five years
超过两年但不超过五年
8,563
More than five years超过五年19,266
34,369
Les: Carying amounts of bank
borowings and overdrafts that
are not repayable within one
year from the end of the
reporting period but contain
a repayment on demand
clause (shown under
curent liabilities)
减： 毋须于报告期末起一年内
偿还但载有按要求偿还
条款的银行借贷及透支的
账面值（列作流动负债）
(31,127)
Les: Carying amounts of bank
borowings and overdrafts that
are repayable within one year
from the end of the reporting
period and contain a repayment
on demand clause
减： 须于报告期末起一年内偿还
并载有按要求偿还条款的
银行借贷及透支的账面值
(3,242)
Amount shown under curent liabilities列作流动负债的款项(34,369)
Amount shown under non-curent liabilities列作非流动负债的款项–
2252024/2025年报 域高国际控股有限公司
FOR THE YEAR ENDED 31 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
- （续）
于二零二五年三月三十一日，所有银行借
贷均以本集团账面值分别为113,900,000
港元及6,400,000港元（二零二四年：分别
为119,008,000港元及7,197,000港元）的若
干租赁土地及楼宇以及投资物业的押记作
抵押。
于二零二五年三月三十一日，银行借贷按
香港最优惠利率减年利率2.5%至2.8%（二
零二四年：香港最优惠利率减年利率2.5%
至2.8%）计息。于二零二五年三月三十一
日的银行借贷的实际年利率（亦等于合约利
率）介乎2.9%至3.5%（二零二四年：年利率
介乎3.2%至3.7%）。
银行透支按市场利率计息，固定年利率为
5%（二零二四年：无）。
25. 递延税项负债
以下为于本年度及过往年度确认的主要递
延税项负债及其变动：
24. BANK BOROWINGS AND OVERDRAFTS
(CONTINUED)
Al bank borowings were secured by charges over
certain leasehold land and buildings and investment
properties of the Group with carying value of
HK$113,900,000 and HK$6,400,000 respectively
as at 31 March 2025 (2024: HK$119,008,000 and
HK$7,197,000 respectively).
As at 31 March 2025, the bank borowings caried
interests at HK Prime Rate les 2.5% to 2.8% per anum
(2024: HK Prime Rate les 2.5% to 2.8% per anum).
The efective interest rates of the bank borowings as
at 31 March 2025 (which are also equal to contractual
interest rate) ranged from 2.9% to 3.5% per anum
(2024: from 3.2% to 3.7% per anum).
Bank overdrafts cary interest at market rates which a
fixed rate of 5% per anum (2024: nil).
25. DEFERED TAX LIABILITIES
The folowing are the major defered tax liabilities
recognised and movements thereon during the curent
and prior years:
Acelerated tax
depreciation
加速税项折旧
HK$’000
千港元
At 1 April 2023于二零二三年四月一日2,350
Charged to profit or los (Note 11)于损益扣除（附注11）783
At 31 March 2024 and 1 April 2024于二零二四年三月三十一日及
二零二四年四月一日3,133
Credited to profit or los (Note 11)计入损益（附注11）(188)
At 31 March 2025于二零二五年三月三十一日2,945
| Number of share |
|---|
| 股份数目 |
| 10,000,000,000 |
| 1,000,000,000 |
226Vico International Holdings Limited Anual Report 2024/2025
FOR THE YEAR ENDED 31 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
- （续）
于二零二五年三月三十一日，本集团若干
附属公司合共有13,912,000港元（二零二四
年：13,666,000港元）的未动用税项亏损可
用于抵销未来溢利。由于不可预测未来溢
利来源，故于二零二五年三月三十一日及
二零二四年三月三十一日概无递延税项资
产获确认。税项亏损可无限期结转。
26. 股本
本公司的法定及已发行股本变动详情如
下：
25. DEFERED TAX LIABILITIES (CONTINUED)
As at 31 March 2025, certain subsidiaries of the Group
had agregate unused tax loses of HK$13,912,000
(2024: HK$13,666,000) available for ofset against future
profits. No defered tax aset has ben recognised
as at 31 March 2025 and 31 March 2024 due to the
unpredictability of future profit streams. The tax loses
can be caried forward indefinitely.
26. SHARE CAPITAL
Details of movements of authorised and isued share
capital of the Company are as folows:
Share capital
股本
HK$’000
千港元
Ordinary shares of HK$0.01 each每股面值0.01港元的普通股
Authorised:法定：
At 1 April 2023, 31 March 2024,
1 April 2024 and 31 March 2025
于二零二三年四月一日、
二零二四年三月三十一日、
二零二四年四月一日及
二零二五年三月三十一日100,000
Isued and fuly paid:已发行及缴足：
At 1 April 2023, 31 March 2024,
1 April 2024 and 31 March 2025
于二零二三年四月一日、
二零二四年三月三十一日、
二零二四年四月一日及
二零二五年三月三十一日10,000
| 2025 |
|---|
| 二零二五年 |
| HK$’000 |
| 千港元 |
| 132 |
| 68 |
| 200 |
2272024/2025年报 域高国际控股有限公司
FOR THE YEAR ENDED 31 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. 经营租赁安排
本集团作为出租人
本集团根据经营租赁出租投资物业。该等
租赁一般初步为期1至2年，并有权选择在
到期日后续期，届时所有条款均可重新商
定。概无租赁包括可变租赁付款。
本集团将于未来期间根据于报告日期已订
立的不可撤销经营租赁应收的未贴现租赁
付款如下：
27. OPERATING LEASING ARANGEMENTS
The Group as lesor
The Group leases out investment properties under
operating leases. The leases typicaly run for an initial
period of within 1 to 2 years, with an option to renew
the leases after that date at which time al terms are
renegotiated. None of the leases includes variable lease
payments.
Undiscounted lease payments under non-cancelable
operating leases in place at the reporting date wil be
receivable by the Group in future periods as folows:
二零二四年
HK$’000
千港元
Within 1 year一年内108
After 1 year but within 2 years一年后但于两年内38
| 2025 |
|---|
| 二零二五年 |
| HK$’000 |
| 千港元 |
| 47,060 |
| 32,680 |
| 79,740 |
| 140 |
| 292 |
| 432 |
| 444 |
| (12) |
| 79,728 |
| 10,000 |
| 69,728 |
| 79,728 |
228Vico International Holdings Limited Anual Report 2024/2025
FOR THE YEAR ENDED 31 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. 本公司财务状况表
附注：
(a) 于二零二五年三月三十一日，就投资一间附
属公司而言，于一间附属公司的投资按成本
约47,060,000港元（二零二四年：52,036,000
港元）入账（扣除减值亏损4,976,000港元）（二
零二四年：零）。
(b) 应收附属公司款项为无抵押、免息及预期不
会于报告期结束后未来十二个月内收回。
28. STATEMENT OF FINANCIAL POSITION OF THE
COMPANY
二零二四年
NotesHK$’000
附注千港元
Non-curent asets非流动资产
Investment in a subsidiary于一间附属公司的
投资a52,036
Amounts due from subsidiaries应收附属公司款项b85,210
137,246
Curent asets流动资产
Prepayments预付款项65
Cash and cash equivalents现金及现金等价物145
Curent liability流动负债
Other payables and acruals其他应付款项及应
计费用454
Net curent liabilities流动负债净额(244)
Net asets资产净值137,002
Capital and reserves资本及储备
Share capital股本10,000
Reserves储备c127,002
Total equity总权益137,002
Notes:
(a) As at 31 March 2025, investment in a subsidiary is caried at
cost aproximately of HK$47,060,000 (2024: HK$52,036,000),
net of impairment los of HK$4,976,000 (2024: nil) in respect of
investment in a subsidiary.
(b) The amounts due from subsidiaries are unsecured, interest-
fre and are not expected to be recoverable within the next
twelve months from the end of the reporting period.
| 62,978 | 74,832 | (10,808) | 127,002 |
|---|---|---|---|
| – | – | (57,274) | (57,274) |
| 62,978 | 74,832 | (68,082) | 69,728 |
2292024/2025年报 域高国际控股有限公司
FOR THE YEAR ENDED 31 MARCH 2025 截至二零二五年三月三十一日止年度
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
- （续）
附注：（续）
(c) 储备变动
29. 购股权计划
购股权计划（「购股权计划」）乃于二零一八
年一月十六日经本公司股东的书面决议案
有条件采纳。该计划旨在奖励对本集团有
贡献的本公司雇员、行政人员、高级职员
或董事，并鼓励彼等致力为本公司及其股
东之整体利益提升本公司及其股份的价
值。购股权计划于十年期内有效及生效，
直至二零二八年三月三日结束。
行使价为董事会全权酌情厘定的有关价
格，惟该价格须至少为以下各项之最高
者：(i)于授出日期联交所每日报价表所述
股份之收市价；(i)紧接授出日期前五个交
易日联交所每日报价表所述之股份平均收
市价；及(i)一股份之面值。
28. STATEMENT OF FINANCIAL POSITION OF THE
COMPANY (CONTINUED)
Notes: (Continued)
(c) Movement in reserves
Share
premium
Capital
reserve
Acumulated
losesTotal
股份溢价资本储备累计亏损总计
HK$’000HK$’000HK$’000HK$’000
千港元千港元千港元千港元
As at 1 April 2023于二零二三年四月一日62,97874,832(7,997)129,813
Los and total comprehensive expense
for the year
年内亏损及全面开支总额
–(2,811)(2,811)
As at 31 March 2024 and 1 April 2024于二零二四年三月三十一日及
二零二四年四月一日
Los and total comprehensive expense
for the year
年内亏损及全面开支总额
As at 31 March 2025于二零二五年三月三十一日
29. SHARE OPTION SCHEME
The share option scheme (the “Share Option Scheme”)
was conditionaly adopted by the writen resolutions of
the shareholders of the Company on 16 January 2018.
The purpose of the scheme is to reward employes,
executives, oficers or directors of the Company who
have contributed to the Group and encourage them
to work towards enhancing the value of the Company
and its shares for the benefit of the company and its
shareholders as a whole. The Share Option Scheme
shal be valid and efective for a period of ten years
ending on 3 March 2028.
The exercise price shal be such price as the board
of directors in its absolute discretion shal determine,
save that such price must be at least the highest of (i)
the closing price of the Shares as stated in the Stock
Exchange’s daily quotation shet on the date of grant;
(i) the average closing prices of the Shares as stated in
the Stock Exchange’s daily quotation shets for the five
trading days imediately preceding the date of grant;
and (i) the nominal value of a Share.
230Vico International Holdings Limited Anual Report 2024/2025
FOR THE YEAR ENDED 31 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
- （续）
因根据购股权计划及本公司任何其他购股
权计划已授出而有待行使的全部尚未行使
购股权获行使而可予配发及发行的最高股
份数目，合共不得超过不时已发行股份
总数的30%。根据购股权计划及本公司任
何其他购股权计划可能授出的购股权所
涉及的最高股份数目，合共不得超过于
股份上市日期已发行股份总数的10%。根
据购股权计划可授出的最高股份数目为
100,000,000股份，占上市日期已发行
股份总数的10%。任何进一步授出超过该
限额的购股权，则须于股东大会获股东批
准。
于二零二四年四月一日及二零二五年三月
三十一日，根据购股权计划可供授出的购
股权总数分别为100百万份及100百万份。
于二零二五年三月三十一日，根据购股权
计划可供发行的股份数目为100百万股，
占已发行股份（不包括库存股份）总数的
10%。
自计划获采纳以来，概无购股权根据购股
权计划已授出、获行使或失效。
29. SHARE OPTION SCHEME (CONTINUED)
The maximum number of shares which may be aloted
and isued upon the exercise of al outstanding options
granted and yet to be exercised under the Share Option
Scheme and any other share option schemes of the
Company must not, in agregate, exced 30% of the
total number of Shares in isue from time to time. The
maximum number of Shares in respect of which options
may be granted under the Share Option Scheme and
any other share option schemes of the Company must
not, in agregate, exced 10% of the total number of
Shares in isue as at the date of listing of the Shares.
The maximum number of Shares that may be granted
under the Share Option Scheme was 100 milion
Shares, representing 10% of the total number of isued
Shares as at the Listing Date. Any further grant of share
options in exces of this limit is subject to shareholders’
aproval in a general meting.
As at 1 April 2024 and 31 March 2025, the total number
of share options available for grant under the Share
Option Scheme were 100 milion shares and 100 milion
shares, respectively.
As at 31 March 2025, the number of shares available for
isue under the Share Option Scheme were 100 milion
shares, which represented 10% of the total number of
isued shares (excluding treasury shares).
No share option has ben granted, exercised nor
lapsed under the Share Option Scheme since its
adoption.
2312024/2025年报 域高国际控股有限公司
FOR THE YEAR ENDED 31 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. 退休福利计划
(a) 定额供款计划
本集团就香港所有合资格雇员参与
强积金计划。该计划的资产与本集
团的资产分开由信托人控制的基金
持有。本集团向计划缴付相关成本
5%的供款，雇员亦须缴付等额供
款。每名雇主及雇员的供款上限为
每月1,500港元。
截至二零二五年三月三十一日止
年度，本集团向退休福利计划供
款约317,000港元（二零二四年：
375,000港元）。
(b) 长期服务金拨备
根据香港《雇佣条例》，于若干情
况下，香港雇员若连续受雇至少五
年，则有权收取长期服务金。该等
情况包括：该雇员遭解雇之理由
并非因严重过失或裁员；该雇员
因年届65岁或以上而辞职；或有
固定期限的雇佣合约届满且未获重
续。应付长服金额乃参考雇员最
后薪金（最高22,500港元）及服务年
期，减去本集团强积金计划供款
（见附注30(a)）产生的任何累算权益
金额而厘定，每名雇员的总上限为
390,000港元。目前，本集团并无
设立任何独立资金安排以履行其长
服金责任。
30. RETIREMENT BENEFIT SCHEMES
(a) Defined contribution plans
The Group participates in the MPF Scheme for al
qualifying employes in Hong Kong. The asets
of the schemes are held separately from those of
the Group, in funds under the control of trustes.
The Group contributes 5% of relevant costs to
the scheme, which contribution is matched by
employes. The contributions from each of the
employer and employes are subject to a cap of
HK$1,500 per month.
The Group made contributions to the retirement
benefits schemes aproximately of HK$317,000
(2024: HK$375,000) for the year ended 31 March
2025.
(b) Provision of long service payments
Hong Kong employes that have ben employed
continuously for at least five years are entitled to
long service payments in acordance with the
Hong Kong Employment Ordinance under certain
circumstances. These circumstances include
where an employe is dismised for reasons
other than serious misconduct or redundancy,
that employe resigns at the age of 65 or above,
or the employment contract is of fixed term and
expires without renewal. The amount of LSP
payable is determined with reference to the
employe’s final salary (caped at HK$22,500)
and the years of service, reduced by the amount
of any acrued benefits derived from the Group’s
contributions to MPF scheme (se Note 30(a),
with an overal cap of HK$390,000 per employe.
Curently, the Group does not have any separate
funding arangement in place to met its LSP
obligation.
232Vico International Holdings Limited Anual Report 2024/2025
FOR THE YEAR ENDED 31 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
- （续）
(b) 长期服务金拨备（续）
于二零二年六月，香港特别行政
区政府（「政府」）刊宪修订条例，将
最终取消雇主的法定权利，即透过
提取其强积金计划的强制性供款，
扣减其应付予香港雇员的长服金。
政府随后宣布修订条例将于转制日
（即二零二五年五月一日）生效。另
外，预期政府亦将于取消后推出补
贴计划以协助雇主。
其中，一旦取消对冲机制生效，由
转制日起，雇主不可再以其强制性
强积金供款（不论于转制日之前、
当日或之后作出的供款）所产生的
任何累算权益来减少雇员服务的长
服金。然而，倘雇员于转制日之前
开始受雇，则于该日之前，雇主可
继续以上述累算权益来减少该雇员
服务的长服金；此外，转制日之前
服务的长服金将按照雇员紧接转制
日前的月薪及截至该日的服务年期
计算。
30. RETIREMENT BENEFIT SCHEMES
(CONTINUED)
(b) Provision of long service payments
(Continued)
In June 2022, the Government of the Hong
Kong Special Administrative Region (the
“Government”) gazeted the Amendment
Ordinance, which wil eventualy abolish the
statutory right of an employer to reduce its LSP
payable to a Hong Kong employe by drawing
on its mandatory contributions to the MPF
scheme. The Government has subsequently
anounced that the Amendment Ordinance wil
come into efect from the transition date (i.e. 1
May 2025). Separately, the Government is also
expected to introduce a subsidy scheme to
asist employers after the abolition.
Among other things, once the abolition of the
ofseting mechanism takes efect, an employer
can no longer use any of the acrued benefits
derived from its mandatory MPF contributions
(irespective of the contributions made before,
on or after the transition date) to reduce the
LSP in respect of an employe’s service
from the transition date. However, where an
employe’s employment comenced before
the transition date, the employer can continue
to use the above acrued benefits to reduce
the LSP in respect of the employe’s service
up to that date; in adition, the LSP in respect
of the service before the transition date wil be
calculated based on the employe’s monthly
salary imediately before the transition date and
the years of service up to that date.
| 2025 |
|---|
| 二零二五年 |
| HK$’000 |
| 千港元 |
| 5,753 |
| 87 |
| 5,840 |
2332024/2025年报 域高国际控股有限公司
FOR THE YEAR ENDED 31 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
31. 关联方交易及结余
除综合财务报表其他部分所详述的交易及
结余外，本集团于年内已与关联方进行以
下重大交易。
(a) 主要管理层人员薪酬
年内，本公司董事及其他主要管理
层人员的薪酬如下：
本公司董事及本集团主要管理层人
员的薪酬由本公司董事会经考虑个
人表现及市场趋势后厘定。
31. RELATED PARTY TRANSACTIONS AND
BALANCES
In adition to the transactions and balances detailed
elsewhere in the consolidated financial statements,
the Group has entered into the folowing significant
transactions with related parties during the year.
(a) Compensation of key management personel
The remuneration of directors of the Company
and other members of key management
personel during the year was as folows:
二零二四年
HK$’000
千港元
Short-term employe benefits短期雇员福利5,133
Post-employment benefits雇员离职后福利84
5,217
The remuneration of the directors of the
Company and key management personel of the
Group is determined by the board of directors of
the Company having regard to the performance
of individuals and market trends.
| 2025 |
|---|
| 二零二五年 |
| HK$’000 |
| 千港元 |
| 924 |
| 660 |
| 385 |
234Vico International Holdings Limited Anual Report 2024/2025
FOR THE YEAR ENDED 31 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
- （续）
(b) 年内，本集团与关联方订立以下重
大交易：
附注： 许先生╱汤女士均为该等公司的控
股东。
该等交易按本集团与关联方厘定及
协定的条款进行。于截至二零二五
年三月三十一日止年度，本集团就
若干物业与关联方及本集团董事许
先生订立多项租约，租赁期为期三
年。于截至二零二五年三月三十一
日止年度，本集团租赁项下应付之
租金总额为每月167,000港元（二零
二四年：每月132,000港元）。于二
零二五年三月三十一日，该等租赁
负债的账面总值为4,648,000港元
（二零二四年：790,000港元）。
31. RELATED PARTY TRANSACTIONS AND
BALANCES (CONTINUED)
(b) During the year, the Group entered into the
folowing significant transactions with related
parties:
Related partiesNature of transactions2024
关联方交易性质二零二四年
HK$’000
千港元
Bright Ford Development
Limited (Note)
Lease and interest payment
耀辉发展有限公司（附注）租赁及利息付款
Suny Gainer Investment
Limited (Note)
Lease and interest payment
诚荣投资有限公司（附注）租赁及利息付款
Mr. HuiLease and interest payment–
许先生租赁及利息付款
Note: Mr. Hui/Ms. Tong are the controling shareholders of
these companies.
These transactions were caried out at terms
determined and agred by the Group and the
relevant parties. During the year ended 31 March
2025, the Group entered into several leases
with thre year lease terms in respect of certain
properties from related parties and Mr. Hui, the
director of the Group. During the year ended
31 March 2025, the amounts of rent payable by
the Group under the lease is HK$167,000 per
month (2024: HK$132,000 per month) in total.
As at 31 March 2025, the total carying amounts
of such lease liabilities is HK$4,648,000 (2024:
HK$790,000).
| Non-cash changes | ||||
|---|---|---|---|---|
| 非现金变动 | ||||
| 1 April 2024 | Financing cash flows | Finance costs incurred | New leases entered/ lease modified | 31 March 2025 |
| 二零二四年 四月一日 | 融资现金 流量 | 已产生融资 成本 | 已订立的 新租赁╱ 租赁修改 | 二零二五年 三月三十一日 |
| HK$’000 | HK$’000 | HK$’000 | HK$’000 | HK$’000 |
| 千港元 | 千港元 | 千港元 | 千港元 | 千港元 |
| 34,369 | (240) | 1,091 | – | 35,220 |
| 790 | (2,181) | 95 | 6,119 | 4,823 |
| 35,159 | (2,421) | 1,186 | 6,119 | 40,043 |
2352024/2025年报 域高国际控股有限公司
FOR THE YEAR ENDED 31 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
32. 融资活动所产生负债的对账
下表详细列出本集团融资活动所产生负债
的变动，融资活动所产生负债为其现金流
已经或未来现金流将会于综合现金流量表
内分类为融资活动所得现金流的负债。
32. RECONCILIATION OF LIABILITIES ARISING
FROM FINANCING ACTIVITIES
The table below details changes in the Group’s liabilities
arising from financing activities are those for which cash
flows were, or future cash flows wil be, clasified in
the consolidated statement of cash flows as cash flows
from financing activities.
Bank borowings and overdrafts银行借贷及透支
Lease liabilities租赁负债
Non-cash changes
非现金变动
1 April
Financing
cash flows
Finance
costs
incured
31 March
二零二三年
四月一日
融资现金
流量
已产生融资
成本
二零二四年
三月三十一日
HK$’000HK$’000HK$’000HK$’000
千港元千港元千港元千港元
Bank borowings银行借贷43,773(10,835)1,43134,369
Lease liabilities租赁负债2,527(1,762)25790
46,300(12,597)1,45635,159
| 2025 |
|---|
| 二零二五年 |
| US$11,000 |
| 11,000美元 |
| HK$10,000 |
| 10,000港元 |
| HK$2 |
| 2港元 |
| US$1,000 |
| 1,000美元 |
| HK$10,000 |
| 10,000港元 |
| 2025 |
|---|
| 二零二五年 |
| 100% |
| 100% |
| 100% |
| 100% |
| 100% |
| 2025 |
|---|
| 二零二五年 |
| 100 |
| – |
| – |
| – |
| – |
| 2025 |
|---|
| 二零二五年 |
| – |
| 100% |
| 100% |
| 100% |
| 100% |
236Vico International Holdings Limited Anual Report 2024/2025
FOR THE YEAR ENDED 31 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
33. 或然负债
于二零二四年及二零二五年三月三十一
日，本集团透过获授予的银行融资向一名
供应商发出担保书，为数4,000,000港元。
该融资由本公司之公司担保作为抵押。
34. 本公司主要附属公司详情
本公司主要附属公司于二零二五年及二零
二四年三月三十一日的详情载述如下：
33. CONTINGENT LIABILITIES
As at 31 March 2024 and 2025, the Group had isued
a leter of guarante through the banking facilities
granted, to a suplier amounting to HK$4,000,000. The
facilities are secured by corporate guarante of the
Company.
34. PARTICULARS OF PRINCIPAL SUBSIDIARIES
OF THE COMPANY
Particulars of the Company’s principal subsidiaries as
at 31 March 2025 and 2024 are as folows:
Name of
subsidiaries
Place of
incorporation/
establishment/
operations
Date of
incorporation
Isued and
fuly paid capital
Shareholding/equity
interest atributable
to the Company
Proportion ownership interest
held by the CompanyPrincipal activities
附属公司名称
注册成立╱
成立╱营运地点注册成立日期已发行及缴足股本公司应占持股量╱股权本公司所持拥有权比例主要业务
DirectlyIndirectly
直接间接
二零二四年二零二四年二零二四年二零二四年
Bilion HarvestThe BVI5 January 2018US$11,000100%100%–Investment holding
亿丰英属维尔京群岛二零一八年
一月五日
11,000美元投资控股
Bilion FaithHong Kong17 October 2005HK$10,000100%–100%Sales of lubricant oil
亿晖香港二零五年
十月十七日
10,000港元销售润滑油
Carmen LogisticsHong Kong19 March 2012HK$2100%–100%Provision of
Transportation
services to the Group’s
subsidiaries
裕豪物流香港二零一二年
三月十九日
2港元向本集团附属公司提供
运输服务
Diamond DecadeThe BVI23 January 2018US$1,000100%–100%Investment holding
Diamond Decade英属维尔京群岛二零一八年
一月二十三日
1,000美元投资控股
Grand WealthyHong Kong12 March 2003HK$10,000100%–100%Sales of lubricant oil
骏汇香港二零三年
三月十二日
10,000港元销售润滑油
| 2025 |
|---|
| 二零二五年 |
| HK$1 |
| 1港元 |
| HK$1 |
| 1港元 |
| HK$50,000 |
| 50,000港元 |
| HK$10,000 |
| 10,000港元 |
| US$1,000 |
| 1,000美元 |
| 2025 |
|---|
| 二零二五年 |
| 100% |
| 100% |
| 100% |
| 100% |
| 100% |
| 2025 |
|---|
| 二零二五年 |
| – |
| – |
| – |
| – |
| – |
| 2025 |
|---|
| 二零二五年 |
| 100% |
| 100% |
| 100% |
| 100% |
| 100% |
2372024/2025年报 域高国际控股有限公司
FOR THE YEAR ENDED 31 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
Name of
subsidiaries
Place of
incorporation/
establishment/
operations
Date of
incorporation
Isued and
fuly paid capital
Shareholding/equity
interest atributable
to the Company
Proportion ownership interest
held by the CompanyPrincipal activities
附属公司名称
注册成立╱
成立╱营运地点注册成立日期已发行及缴足股本公司应占持股量╱股权本公司所持拥有权比例主要业务
DirectlyIndirectly
直接间接
二零二四年二零二四年二零二四年二零二四年
Lion Champion Holdings
Limited
Hong Kong20 December
HK$1100%–100%Property holding
狮骏控股有限公司香港二零一九年
十二月二十日
1港元持有物业
Panda Champion
Holdings Limited
Hong Kong30 October 2020HK$1100%–100%Property holding
Panda Champion
Holdings Limited
香港二零二零年
十月三十日
1港元持有物业
Tien Fung HongHong Kong4 February 2004HK$50,000100%–100%Provision of flet cards
service and handling
sales of lubricant
oil for the Group’s
subsidiaries
佃丰行香港二零四年
二月四日
50,000港元提供车队咭服务及
为本集团附属公司
处理润滑油销售
Tiger Champion LimitedHong Kong5 July 2018HK$10,000100%–100%Property holding
虎卓有限公司香港二零一八年
七月五日
10,000港元持有物业
Trilion StarThe BVI1 December 2016US$1,000100%–100%Investment holding
亿星英属维尔京群岛二零一六年
十二月一日
1,000美元投资控股
34. PARTICULARS OF PRINCIPAL SUBSIDIARIES
OF THE COMPANY (CONTINUED)
Particulars of the Company’s principal subsidiaries as
at 31 March 2025 and 2024 are as folows: (Continued)
- （续）
本公司主要附属公司于二零二五年及二零
二四年三月三十一日的详情载述如下：
（续）
| 2025 |
|---|
| 二零二五年 |
| US$1,000 |
| 1,000美元 |
| HK$200 |
| 200港元 |
| HK$10,000 |
| 10,000港元 |
| 2025 |
|---|
| 二零二五年 |
| 100% |
| 100% |
| 100% |
| 2025 |
|---|
| 二零二五年 |
| – |
| – |
| – |
| 2025 |
|---|
| 二零二五年 |
| 100% |
| 100% |
| 100% |
238Vico International Holdings Limited Anual Report 2024/2025
FOR THE YEAR ENDED 31 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
于报告期末概无附属公司已发行任何债务
证券。
Name of
subsidiaries
Place of
incorporation/
establishment/
operations
Date of
incorporation
Isued and
fuly paid capital
Shareholding/equity
interest atributable
to the Company
Proportion ownership interest
held by the CompanyPrincipal activities
附属公司名称
注册成立╱
成立╱营运地点注册成立日期已发行及缴足股本公司应占持股量╱股权本公司所持拥有权比例主要业务
DirectlyIndirectly
直接间接
二零二四年二零二四年二零二四年二零二四年
Tycon CityThe BVI28 November
US$1,000100%–100%Investment holding
亨城英属维尔京群岛二零一六年
十一月二十八日
1,000美元投资控股
Ye Sing HongHong Kong1 February 2002HK$200100%–100%Sales of diesel, lubricant
oil and Others
义盛行香港二零二年
二月一日
200港元销售柴油、润滑油及
其他产品
Ye Sing LogisticsHong Kong20 September
HK$10,000100%–100%Provision of
transportation
services to the Group’s
subsidiaries
义盛物流香港二零二年
九月二十日
10,000港元向本集团附属公司提供
运输服务
None of the subsidiaries had isued any debt securities
at the end of the reporting period.
34. PARTICULARS OF PRINCIPAL SUBSIDIARIES
OF THE COMPANY (CONTINUED)
Particulars of the Company’s principal subsidiaries as
at 31 March 2025 and 2024 are as folows: (Continued)
- （续）
本公司主要附属公司于二零二五年及二零
二四年三月三十一日的详情载述如下：
（续）
| 2025 |
|---|
| 二零二五年 |
| HK$’000 |
| 千港元 |
| 1,544,763 |
| 45,912 |
| 15,422 |
| 3,076 |
| 12,346 |
| 12,346 |
2392024/2025年报 域高国际控股有限公司
FIVE-YEAR FINANCIAL SUMARY
五年财务概要
The folowing is a sumary of the published results and asets
and liabilities of the Group for the last five financial years
prepared on the basis set out in the notes above.
RESULTS
For the year ended 31 March
二零二四年二零二三年二零二年二零二一年
HK$’000HK$’000HK$’000HK$’000
千港元千港元千港元千港元
Revenue收益1,595,0831,017,0371,369,627816,374
Gros profit毛利48,33944,69343,47947,163
Profit before tax除税前溢利21,33612,89811,86022,441
Income tax expense所得税开支(4,403)(4,102)(2,691)(4,101)
Profit for the year年内溢利16,9338,7969,16918,340
Profit and total
comprehensive income
for the year atributable
to the owners of the
Company
本公司拥有人应
占年度溢利及
全面收益总额
16,9338,7969,16918,340
下文列载本集团于过去五个财政年度的已刊发业
绩及资产及负债概要，内容乃根据上文的附注编
制。
业绩
截至三月三十一日止年度
| 2025 |
|---|
| 二零二五年 |
| HK$’000 |
| 千港元 |
| 128,964 |
| 158,323 |
| 5,951 |
| 48,967 |
| 109,356 |
| 238,320 |
240Vico International Holdings Limited Anual Report 2024/2025
FIVE-YEAR FINANCIAL SUMARY
五年财务概要
资产及负债
于三月三十一日
ASETS AND LIABILITIES
As at 31 March
二零二四年二零二三年二零二年二零二一年
HK$’000HK$’000HK$’000HK$’000
千港元千港元千港元千港元
Non-curent asets非流动资产131,193140,532150,880117,671
Curent asets流动资产141,977120,284117,079128,235
Non-curent liabilities非流动负债3,3753,1404,0972,185
Curent liabilities流动负债49,77254,58669,56848,596
Net curent asets流动资产净值92,20565,69847,51179,639
Total asets les curent
liabilities
总资产减流动
负债223,398206,230198,391197,310
Anual Report
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