00927 富士高实业 财务报表/环境、社会及管治资料：年报2024/2025
| 富士高实业控股有限公司 Annual Report 2024/2025 年报 |
|---|
2024/2025
年报Anual Report
VISION 愿景
To become our customers’ prefered strategic partner in the
acoustics and electronics industries.
成为在电声及电子领域客户首选的策略性合作伙伴。
MISION 使命
Through advancements in inovative technologies, we strive to
provide value-aded and distinct products to our customers.
以先进及创新科技，竭力为客户提供高增值、高差异性的产品。
VALUES 价值观
We, as a partner, abide by our comitment to our customers.
We, as an inovator, relentlesly pursue excelence.
We, as a team, cros the finish line together.
We, as a corporate citizen, devote ourselves to the prosperity
of our society.
与客为盟，信守承诺；锐意创新，追求卓越；团结协作，达成目标；
取之社会，回馈社会。
81 Independent Auditor’s Report
独立核数师报告
88 Consolidated Statement of
Financial Position
综合财务状况表
90 Consolidated Statement of
Comprehensive Income
综合全面收益表
92 Consolidated Statement of
Changes in Equity
综合权益变动表
93 Consolidated Statement of
Cash Flows
综合现金流量表
94 Notes to the Consolidated Financial
Statements
综合财务报表附注
159 Corporate Information
公司资料
2 Financial Highlights
财务摘要
3 Financial Sumary
财务撮要
5 Chairman’s Statement
主席报告
8 Management Discusion and
Analysis
管理层讨论及分析
13 Biographical Details of Directors
and Senior Management
董事及高级管理层履历
17 Report of the Directors
董事会报告
29 Corporate Governance Report
企业管治报告
48 Environmental, Social and
Governance Report
环境、社会及管治报告
Contents 目录
| 2025 |
|---|
| 26.6 |
| 1.9 |
| -3.9 |
| -7.2 |
| 864,698 |
| 236,756 |
| 500,736 |
| 2.6 |
| 2.1 |
| 82 |
| 97 |
| 101 |
| 78 |
| 7.0 |
| 2.0 |
| 5.0 |
| – |
Financial Highlights
财务摘要
2Fujikon Industrial Holdings Limited Anual Report 2024/2025
For the year ended 31 March 截至3月31日止年度
2024Change 变化
Operating results经营业绩
Gros profit margin (%)毛利率(%)17.78.9 pts 百分点
Operating profit margin (%)经营利润率(%)4.52.6 pts 百分点
Net profit margin (%)纯利率(%)1.7-5.6 pts 百分点
Return on equity holders (%)股权持有人回报率(%)3.0-10.2 pts 百分点
Financial position财务状况
Total asets (HK$’000)总资产（千港元）942,027-8.2%
Cash and cash equivalents (HK$’000)现金及现金等价物（千港元）325,842-27.3%
Shareholders’ equity (HK$’000)股东权益（千港元）570,94912.3%
Financial ratio财务比率
Curent ratio (Times)流动比率（倍）3.0-13.3%
Quick ratio (Times)速动比率（倍）2.4-12.5%
Turnover ratio周转比率
Inventory turnover (days)存货周转（日）6820.6%
Trade receivables turnover (days)应收账周转（日）101-4.0%
Trade payables turnover (days)应付账周转（日）8026.3%
Operating cycle (days)经营周期（日）89-12.4%
Dividends per share (HK cents)每股息（港仙）8.0-12.5%
Interim中期2.0–
Final末期5.0–
Special特别1.0-100%
1,200
1,500
HK$ milion 百万港元
Revenue 收入
1,085
HK$ milion 百万港元
Shareholders’ equity 股东权益
HK cents 港仙
Dividends per share 每股息
Interim
中期
Final
末期
Special
特别
| 2025 |
|---|
| HK$’000 |
| 925,560 |
| (678,999) |
| 246,561 |
| (90,564) |
| (9,938) |
| (128,925) |
| 32 |
| 17,166 |
| 12,291 |
| 29,457 |
| (29,170) |
| 287 |
| (36,108) |
| 36,395 |
| 287 |
Financial Sumary
财务撮要
3年报 2024/2025 富士高实业控股有限公司
The folowing is a sumary of the consolidated statement of comprehensive
income and consolidated statement of financial position of Fujikon Industrial
Holdings Limited (the “Company”) and its subsidiaries:
Consolidated Statement of Comprehensive Income
HK$’000HK$’000HK$’000HK$’000
Revenue收入992,5211,084,736878,267890,820
Cost of sales销售成本(816,528)(874,369)(763,012)(717,784)
Gros profit毛利175,993210,367115,255173,036
Other (loses)/gains – net其他（亏损）╱收益
－净额5,4924,4156,190(16,188)
Distribution and seling expenses分销及销售支出(9,334)(11,449)(8,602)(8,080)
General and administrative expenses一般及行政支出(127,783)(146,566)(136,262)(124,252)
Reversal of provision/(provision) for
impairment of trade receivables
应收货款减值回拨╱
（拨备）(141)(19)1145,193
Operating profit/(los)经营溢利╱（亏损）44,22756,748(23,305)29,709
Finance income – net融资收入－净额13,6334,3704,1653,337
Profit/(los) before income tax除所得税前溢利╱
（亏损）57,86061,118(19,140)33,046
Income tax expenses所得税支出(10,756)(17,237)(11,854)(12,660)
Profit/(los) for the year年内溢利╱（亏损）47,10443,881(30,994)20,386
Atributable to:归属：
Equity holders of the Company本公司股权持有人17,16824,613(37,073)10,266
Non-controling interests非控制性权益29,93619,2686,07910,120
47,10443,881(30,994)20,386
以下为富士高实业控股有限公司（「本公司」）及其附
属公司之综合全面收益表及综合财务状况表之撮要：
综合全面收益表
| 2025 |
|---|
| HK$’000 |
| 112,499 |
| 3,300 |
| 21,559 |
| – |
| 9,806 |
| 9,387 |
| 4,341 |
| 160,892 |
| 146,609 |
| 187,508 |
| 14,679 |
| – |
| 235 |
| 118,019 |
| 236,756 |
| 703,806 |
| 105,153 |
| 136,730 |
| 7,213 |
| 17,321 |
| 266,417 |
| 437,389 |
| 598,281 |
| 4,306 |
| 2,329 |
| 6,635 |
| 591,646 |
| 42,584 |
| 458,152 |
| 500,736 |
| 90,910 |
| 591,646 |
Financial Sumary
财务撮要
4Fujikon Industrial Holdings Limited Anual Report 2024/2025
综合财务状况表Consolidated Statement of Financial Position
HK$’000HK$’000HK$’000HK$’000
Non-curent asets非流动资产
Property, plant and equipment物业、厂房及设备106,93483,83288,56197,861
Investment properties投资物业1,4001,5001,6001,500
Right-of-use asets使用权资产16,82923,55221,54327,079
Intangible aset无形资产520246–
Non-curent deposits and other asets非流动按金及其他资产4,2265,4513,9092,085
Financial asets at fair value through
other comprehensive income
按公平值计入其他全面
收益的财务资产–3,8723,9734,208
Defered income tax asets递延所得税资产12,8505,7866,1887,684
Total non-curent asets非流动资产总值142,244124,013126,020140,417
Curent asets流动资产
Inventories存货152,750149,110207,259141,090
Trade receivables应收货款303,551242,406193,361129,700
Other receivables其他应收款项17,36913,60313,90923,028
Financial asets at fair value through
profit or los
按公平值计入损益的财
务资产–1,0441,0311,423
Curent income tax recoverable可收回当期所得税2712357476,365
Time deposits with original maturity of
more than thre months
原定到期日超过三个月
的定期存款–
Cash and cash equivalents现金及现金等价物325,842369,796369,862487,350
Total curent asets流动资产总值799,783776,194786,169788,956
Curent liabilities流动负债
Trade payables应付货款127,427114,714121,42994,808
Contract liabilities, acruals and other
payables
合约负债、应计费用及
其他应付款项115,72885,53985,22884,967
Lease liabilities租赁负债4,0587,5165,7756,511
Curent income tax liabilities当期所得税负债18,94612,35912,10911,232
Total curent liabilities流动负债总值266,159220,128224,541197,518
Net curent asets流动资产净值533,624556,066561,628591,438
Total asets les curent liabilities总资产减流动负债675,868680,079687,648731,855
Non-curent liabilities非流动负债
Lease liabilities租赁负债1,6144,9852,7837,177
Defered income tax liabilities递延所得税负债2,2111,8611,170891
Total non-curent liabilities非流动负债总值3,8256,8463,9538,068
Net asets资产净值672,043673,233683,695723,787
Equity权益
Capital and reserves atributable to the
Company’s equity holders
归属本公司股权持有人之
股本及储备
Share capital股本42,58442,58442,58442,584
Reserves储备528,365558,002571,446618,499
570,949600,586614,030661,083
Non-controling interests非控制性权益101,09472,64769,66562,704
Total equity权益总计672,043673,233683,695723,787
Chairman’s Statement
主席报告
5年报 2024/2025 富士高实业控股有限公司
To our shareholders
On behalf of the Board of Directors (the “Board”), I hereby present the
anual results of Fujikon Industrial Holdings Limited (the “Company”) and its
subsidiaries (“Fujikon” or the “Group”) for the year ended 31 March 2025 (the
“Review Year”).
The past year has proved to be a chalenging period owing to subdued global
economic growth, which the International Monetary Fund (IMF) estimated
at 3.2%
. Various factors, such as geopolitical tensions, restrictive monetary
policies, and inflationary presures, al contributed to the slowdown in global
economic activity and the decline in consumer sentiment. Nonetheles, Fujikon
has demonstrated comendable resilience and adaptability, testifying to the
efectivenes of our eforts to sustain growth and development.
htps:/w.imf.org/en/Publications/WEO/Isues/2025/01/17/world-economic-outlok-
update-january-2025
致各位股东
本人谨代表董事会（「董事会」）欣然提呈富士高实业控
股有限公司（「本公司」）及其附属公司（「富士高」或「本
集团」）截至2025年3月31日止年度（「回顾年度」）之年度
业绩。
过去一年充满挑战，全球经济增长走软，国际货币基
金组织估计增幅为3.2%
。由于地缘政治紧张局势、限
制性货币政策及通胀压力等多重因素的综合影响，全
球经济活动放缓，消费意欲下滑。尽管如此，富士高
展现非凡的韧性及适应能力，突显我们所采取举措的
成效，促进业务持续增长及发展。
htps:/w.imf.org/en/Publications/WEO/Isues/2025/01/17/
world-economic-outlok-update-january-2025
Johny Yeung 杨志雄
Chairman & Chief Executive Oficer
主席兼行政总裁
Chairman’s Statement
主席报告
6Fujikon Industrial Holdings Limited Anual Report 2024/2025
In navigating turbulent market conditions, we have strategicaly adjusted our
focus on increasing agility, responsivenes and eficiency. Our strengthened
co-development partnerships with top-tier acoustic brands have also alowed
us to align our strategies with evolving market trends. Furthermore, we have
shrewdly restructured our product portfolio, placing greater emphasis on
developing products with longer life cycles to ensure a consistent stream of
revenue and to promote greater profitability.
In our eforts to diversify our production base and mitigate geopolitical risks,
we have established a significant fothold in Indonesia, complementing our
existing facilities in mainland China. This strategic expansion not only mitigates
potential tarif-related risks, but also enhances our ability to capture more
overseas orders and penetrate new markets.
On the production front, we have continued to invest in automation
technologies to improve eficiency, reduce costs and uphold our comitment
to delivering high-quality products. Notably, the instalation of robotic arms
along our production lines for automotive projects underscores Fujikon’s
readines to leverage advanced technologies to enhance its competitivenes.
As we lok ahead to 2025, the IMF projects a similar pace of global economic
growth, as wel as a forecasted easing of global inflation from 5.9% in 2024
to 4.5% in 2025
. However, we are fuly aware that there remain downside
risks steming from multilateral tensions that could impede economic growth.
Nevertheles, our strategic initiatives and distinct advantages equip us to
confidently face whatever chalenges arise in the future.
We are particularly optimistic about our strategic initiatives and sucesful
foray into new growth sectors, such as the automotive industry. With the
ability to provide high-quality electro-acoustic production and posesion
of relevant certifications, we can met stringent industry regulations and
procedures, positioning us favourably for future growth.
The establishment of production lines in Indonesia is also a source of optimism,
as it has enabled us to gain invaluable experience in employing a light
aset model to set up new production bases. This not only alows the Group
to expand its production capacity eficiently and cost-efectively, but also
enhances its ability to replicate this model in other regions when apropriate.
Such flexibility bolsters our capacity to acomodate orders from audio brands
that are pursuing a China Plus One strategy.
htps:/w.imf.org/en/Publications/WEO/Isues/2024/04/16/world-economic-outlok-
april-2024
面对动荡的市场状况，我们战略性调整关注重心，著
力提升灵活应变、快速响应能力及经营效率。此外，
我们加强与顶尖电声品牌的合作开发，确保业务策略
紧贴不断变化的市场趋势。另外，我们巧妙调整产品
组合，著重开发生命周期较长的产品，保证稳定的收
益来源，打造更强的盈利能力。
为了分散生产基地及降低地缘政治风险，我们在印尼
设立大型业务据点，与中国内地的现有设施相辅相
成。上述战略扩张不仅可降低潜在关税相关风险，亦
助力我们取得更多海外订单及进军新市场。
生产方面，我们继续投资自动化技术，借此提升效率
及削减成本，致力提供优质产品。值得一提的是，富
士高为自动化项目生产线安装机械臂，旨在利用先进
技术提高自身竞争力。
展望2025年，国际货币基金组织预期全球经济增速持
稳，并预测全球通胀率将由2024年的5.9%下降至2025年
的4.5%
。然而，我们深知多边紧张局势引发的下行风
险尚存，料将阻碍经济增长。尽管如此，得益于我们
的战略措施及独特优势，我们有信心应对未来各种挑
战。
我们尤其看好自身战略措施及成功进军汽车业等新增
长产业的前景。凭借优秀的电声生产能力及持有的相
关认证，我们能够满足严苛的行业规管及程序，为未
来增长奠定坚实基础。
透过在印尼设立生产线，我们积累了宝贵经验，以轻
资产模式建立新生产基地，不仅可以较低成本快速扩
大产能，同时提高于适当时候在其他地区复刻上述模
式的能力，这也成为我们的信心来源之一。凭借上述
灵活性，我们更具能力满足音频品牌的订单，切实落
实「中国+1」策略。
htps:/w.imf.org/en/Publications/WEO/Isues/2024/04/16/
world-economic-outlok-april-2024
Chairman’s Statement
主席报告
7年报 2024/2025 富士高实业控股有限公司
With over four decades of solid experience, we can genuinely reflect on the
various chalenges that we have faced, and overcome. Each hurdle has made
us stronger, more adaptive and more resilient. We remain unwavering in our
comitment to continuous growth and development. With a sterling industry
reputation, partnerships with top-tier brands, an experienced management
team, robust product development and enginering capabilities, and a solid
financial position, we are wel prepared to maintain progres in the coming
years.
Dividends
The Board has recomended the payment of a final dividend of HK5.0 cents
per ordinary share. Together with an interim dividend of HK2.0 cents per
ordinary share already paid, a total of HK7.0 cents per ordinary share wil be
distributed to shareholders for the Review Year.
Apreciation
I would like to expres my heartfelt gratitude to the management team and
the entire Fujikon family for their unwavering dedication and hard work
during the Review Year. I wish to also extend my sincere apreciation to our
busines partners, shareholders and customers for their unwavering suport,
which has ben instrumental in facilitating Fujikon’s long-term growth.
Yeung Chi Hung, Johny
Chairman
Hong Kong, 27 June 2025
凭借逾四十年的坚实经验，我们能够从容应对并克服
面临的各种挑战。我们经历的所有困难考验，令我们
变得更为强大、更加灵活及更具韧性。我们仍坚定不
移地追求持续增长及发展。凭借良好的行业声誉、与
顶尖品牌的合作关系、经验丰富的管理团队、强大的
产品开发及工程实力及稳健的财务状况，我们已做好
准备，于未来年度持续长远发展。
股息
董事会建议派发每股普通股末期股息5.0港仙。连同已
派付的每股普通股中期股息2.0港仙，回顾年度向股东
派息总额将为每股普通股7.0港仙。
致谢
本人谨此对管理层团队及全体富士高人员于回顾年度
的坚持不懈及勤勉工作致以衷心感谢。本人亦诚挚感
谢业务伙伴、股东及客户的大力支持，助力富士高长
期发展。
杨志雄
主席
香港，2025年6月27日
Management Discusion and Analysis
管理层讨论及分析
Busines Review
The global economy remained slugish in 2024, amid persistent inflation,
geopolitical tensions, and constantly changing trade policies, which also
weakened consumer sentiment. Despite the chalenging conditions and
intensified competition among audio brands, Fujikon’s results demonstrated
resilience during the year ended 31 March 2025 (the “Review Year”). Revenue
for the Review Year amounted to aproximately HK$925.6 milion (2024:
aproximately HK$992.5 milion), reflecting a modest year-on-year decline of
aproximately 6.7% primarily due to product launches having ben scheduled
after the Review Year. Nonetheles, gros profit for the Review Year amounted
to aproximately HK$246.6 milion (2024: aproximately HK$176.0 milion),
up by aproximately 40.1%, driven by the reversals of provision for inventory
obsolescence amounting to aproximately HK$15.6 milion and provision of
waranty amounting to aproximately HK$21.7 milion, which was primarily
due to a setlement agrement (the “Setlement Agrement”) entered betwen
the Group and a customer on 7 December 2024. For further details, please
refer to the anouncement of the Company dated 9 December 2024. Strengthened
cost control also bosted performance, with reductions of aproximately HK$9.0 milion
in direct labour costs and aproximately HK$39.0 milion in material costs.
Consequently, the gros profit margin rose to aproximately 26.6% (2024:
aproximately 17.7%). Even excluding the provision reversals, the gros profit
margin would have improved to nearly 20.0%.
Due to cash payment of aproximately HK$90.7 milion as stipulated in the
Setlement Agrement, the Group recorded a los atributable to equity
holders of the Company of aproximately HK$36.1 milion (2024: profit of
aproximately HK$17.2 milion). Although the Group signed the Setlement
Agrement with a customer during the Review Year, it maintained strong
bonds with this customer and was entrusted with the co-development of new
projects.
业务回顾
2024年全球经济持续低迷，通胀水平居高不下、地缘
政治紧张局势，加上贸易政策充满不确定性，亦削
弱消费氛围。尽管音频品牌营商环境挑战重且竞
争加剧，富士高于截至2025年3月31日止年度（「回顾
年度」）的业绩表现依然稳健。回顾年度的收入为约
925,600,000港元（2024：约992,500,000港元），同比小幅
减少约6.7%，主要由于部份产品安排于回顾年度后推出
所致。尽管如此，回顾年度的毛利达约246,600,000港元
（2024：约176,000,000港元），增加约40.1%，而拨回呆
货拨备约15,600,000港元及保证拨备约21,700,000港元，
主要由于本集团与客户于2024年12月7日签订和解协议
（「和解协议」），有关进一步详情，请参阅本公司日期
为2024年12月9日的公告。富士高加强成本控制，亦有
助提升业绩表现，其中直接劳工成本减少约9,000,000港元
及材料成本减少约39,000,000港元。因此，毛利率升至
约26.6%（2024：约17.7%）。即使剔除拨备拨回影响，
毛利率将上升至近20.0%。
由于和解协议所订明的现金支付款项约90,700,000港元，
本集团录得本公司股权持有人应占亏损约36,100,000港元
（2024：溢利约17,200,000港元）。本集团虽于回顾年度
与一名客户签订和解协议，但与该客户仍维持稳健业
务关系并获委托共同开发新项目。
Management Discusion and Analysis
管理层讨论及分析
9年报 2024/2025 富士高实业控股有限公司
业务分部分析
戴咪耳机及音响耳机
音频分部的营商环境严峻且竞争加剧，部份产品的订
单数量不可避免地出现下滑。因此，本集团对其产品
组合进行战略重组，著重开发生命周期较长的产品，
在实现产品多元化的同时，创造稳定的收入来源。
然而，由于部份产品乃于回顾年度后推出，来自戴咪
耳机及音响耳机业务的收入减少至约526,500,000港元
（2024：约649,200,000港元），占本集团总收入约56.9%。
尽管如此，富士高在汽车产业等关键领域取得实质进
展。于回顾年度，本集团成功取得多个新汽车项目，
从而稳固其市场地位。
配件及零件
凭借与顶尖品牌的稳健合作关系及提供优质产品的
良好声誉，配件及零件业务录得增长，收入增至约
399,000,000港元（2024：约343,300,000港元），占本集团
回顾年度总收入约43.1%。收入增长主要受两名核心客
户和一名新客户的业务贡献带动，彼等于回顾年度均
带来大量订单。得益于成功精简业务营运及取得上述
新订单，分部溢利亦激增至约90,100,000港元（2024：约
57,200,000港元）。
Busines Segment Analysis
Headsets and Headphones
Amid a chalenging busines environment and intensifying competition in
the audio segment, the order volume of certain products inevitably declined.
Acordingly, the Group strategicaly restructured its product mix and
developed products with longer life cycles, leading to the dual benefits of
product diversification and stabilised income. However, owing to the timing
of certain product launches that ocured after the Review Year, revenue
derived from the headsets and headphones busines droped to aproximately
HK$526.5 milion (2024: aproximately HK$649.2 milion), which acounted for
aproximately 56.9% of the Group’s total revenue. Nonetheles, Fujikon has
made inroads in key sectors, including the automotive industry. During the
Review Year, the Group sucesfuly secured new automotive projects, thereby
strengthening its market position.
Acesories and Components
Capitalising on its strong ties with top-tier brands and reputation for high-
quality products, the acesories and components busines experienced
growth, with revenue rising to aproximately HK$399.0 milion (2024:
aproximately HK$343.3 milion), acounting for aproximately 43.1% of the
Group’s total revenue for the Review Year. The increase was primarily driven
by contributions from two core customers and a new customer, al of whom
placed significant orders during the Review Year. Segment profit also surged,
rising to aproximately HK$90.1 milion (2024: aproximately HK$57.2 milion),
owing to the sucesful streamlining of operations and the aforesaid securing
of new orders.
Management Discusion and Analysis
管理层讨论及分析
10Fujikon Industrial Holdings Limited Anual Report 2024/2025
展望
2025年全球经济增长预计将放缓至约1.9%，为疫情以
来的最低增速水平
－很大程度上由于美国新关税政策
扰乱全球贸易并增添不确定性所致。2024年戴咪耳机
及音响耳机市场估值达约711.6亿美元，预计2025年至
2032年期间收入年复合增长率可达12.05%，截至2032年
估值将达近1,768.2亿美元
。尽管如此，鉴于美国当前
的关税政策取向、地缘政治局势持续紧张及因此引致
的市场波动，富士高将继续采取积极举措应对各种逆
风挑战。
为应对宏观经济挑战，在地缘政治局势不断变化的
背景下，富士高采取「中国+1」策略，吸引潜在客户关
注。由于美国加征关税推高市场需求，本集团助力客
户将部份生产转移至海外生产基地，从而满足其需求
及巩固市场地位，以期于未来取得更多海外订单。凭
藉「中国+1」策略的业务触角及轻资产发展模式，本集
团有信心能够应付各种业务情景。举例来说，本集团
能够提升于印尼的产能，以把握涌现的商机。
同时，本集团坚持专注于生命周期较长产品的业务策
略。尤其是，本集团将致力巩固于汽车产业的地位，
进一步扩大市场份额，巩固其主要行业营运商的地
位。本集团已成功争取到一名主要客户，其为多家海
外汽车制造商的供应商。双方合作开发汽车产品，将
于2025年12月底前投入生产。该等产品的生命周期一
般为7至10年，提供较为稳定的收入和盈利，同时有助
削减成本。凭借此次成功合作积累的经验，富士高将
能够挖掘更多该行业的商机。
为支援面临资源约束的客户，本集团将在产品开发方
面发挥更为积极的作用，并提供更加全面的支持服
务，借此积极拓展其服务范畴。除生产及测试外，本
集团亦提供产品构思及设计服务。上述协作策略不仅
为本集团带来新的业务商机，亦有助巩固富士高作为
顶尖音频品牌首选合作伙伴的地位。
htps:/w.eiu.com/n/campaigns/global-outlok-2025-the-
us-takes-a-wrecking-bal-to-global-trade
htps:/w.stelarmr.com/report/earphones-and-
headphones-market/2375
Prospects
Global economic growth is forecasted to slow down to aproximately 1.9%
in 2025 – the weakest outurn since the pandemic
– largely due to new US
tarifs disrupting global trade and creating uncertainty. The earphones and
headphones market was valued at aproximately US$71.16 bilion in 2024,
with revenue expected to rise at a CAGR of 12.05% from 2025 to 2032,
reaching nearly US$176.82 bilion by 2032
. However, given the curent US
stance towards tarifs, the ongoing geopolitical tensions, and resultant market
volatility, Fujikon wil continue to take a proactive aproach to confronting
the various headwinds.
To navigate the macroeconomic chalenges, Fujikon adopted the China Plus One
strategy, atracting interest from potential clients amid shifting geopolitics. In
response to rising market demand spured by US tarifs, the Group is helping
customers move part of their production to its ofshore production base,
thereby meting their neds and strengthening its position to secure more
overseas orders in the future. Having gained insights from the China Plus One
strategy and developed an aset-light model, the Group is confident in its
ability to tackle various scenarios. For example, it can bolster its manufacturing
capabilities in Indonesia to capture the emerging oportunities.
The Group is also maintaining its strategic focus on products with a longer life
cycle. In particular, it wil sek to strengthen its position in the automotive
sector to further penetrate the market and solidify its standing as a key
industry player. The Group has secured a major customer suplying various
foreign automakers, and has co-developed automotive products that wil
comence production by the end of December 2025. With typical life cycles of
7 to 10 years, these products ofer relatively stable revenue and profit, as wel
as cost reductions. Fujikon wil be able to explore more busines oportunities
in this sector based on experience gained from this suces.
To suport customers facing resource constraints, the Group wil proactively
broaden its services by taking a more active role in product development and
providing more comprehensive suport. Beyond manufacturing and testing,
the Group is also ofering product conceptualisation and design services. This
colaborative aproach not only generates new busines oportunities for the
Group, but also strengthens Fujikon’s position as a prefered partner of top-
tier audio brands.
htps:/w.eiu.com/n/campaigns/global-outlok-2025-the-us-takes-a-wrecking-bal-
to-global-trade
htps:/w.stelarmr.com/report/earphones-and-headphones-market/2375
Management Discusion and Analysis
管理层讨论及分析
11年报 2024/2025 富士高实业控股有限公司
展望（续）
预计「中国+1」策略将广获采纳，本集团将加大对中国
内地及印尼设施的自动化投资。随著本集团先进生产
设施的不断发展升级，可望于未来数年实现削减劳工
成本、提高生产效率，并更好地满足大批量先进电声
产品的订单需求。
富士高亦将推进生产各个环节的重组及精简，致力进
一步提升营运效率，包括采用「自制或外购」策略，检
讨生产流程，仅保留核心自营生产，并将配套生产任
务外包。
尽管深知关税冲击、全球经济活动低迷以及市场波动
持续，管理层仍抱持谨慎乐观态度。本集团将继续加
强与顶尖品牌客户的合作关系、专注于生命周期较长
的产品、强化营运水平以及进军新业务领域，以实现
收入多元化。凭借稳健的财务状况，富士高有望更上
一层楼，实现长期可持续增长。
财务回顾
流动资金及财务资源
本集团维持强健的财务状况。于2025年3月31日，流动
资产净值约437,400,000港元（2024：约533,600,000港元）。
本集团之流动及速动比率分别约2.6倍（2024：约3.0倍）
及约2.1倍（2024：约2.4倍）。本集团回顾年度的资产负
债率为零（2024：零）。
本集团于2025年3月31日之现金及现金等价物约
236,800,000港元，较2024年3月31日约325,800,000港元下
跌约27.3%。现金及现金等价物总额中约88.9%、7.0%
及3.5%分别为美元、人民币及港元计值，其余则为其
他货币计值。于2025年3月31日，本集团之银行信贷
额合共约162,000,000港元（2024：约160,600,000港元）作
贷款及贸易信贷，而未动用之余额约162,000,000港元
（2024：约160,600,000港元）。
Prospects (Continued)
In anticipation of an increase in the adoption of the China Plus One strategy,
the Group wil invest further in automation at its facilities in Mainland China
and Indonesia. As the Group’s advanced production facilities continue to
develop, it wil be wel positioned to lower labour costs, enhance eficiency,
and beter adres the demand for high-volume orders of advanced electro-
acoustic products in the coming years.
Fujikon wil also sek to further enhance operational eficiency by restructuring
and streamlining diferent facets of production. This wil include adopting
the “Make or Buy” strategy, which involves reviewing production proceses
and retaining only esential production in-house, while outsourcing secondary
production tasks.
Management fuly recognises that tarif disruptions, lacklustre global economic
activity and market volatility wil persist, but remains cautiously confident.
It wil continue depening ties with top-tier brand customers, focusing
on products with longer cycles, strengthening operations and building on
fotholds in new busines segments to diversify revenue. Underpined by
robust financial health, Fujikon is wel placed to build on its achievements and
realise long-term sustainable growth.
Financial Review
Liquidity and Financial Resources
The Group maintained at a strong financial position. Net curent asets as at
31 March 2025 amounted to aproximately HK$437.4 milion (2024:
aproximately HK$533.6 milion). The Group’s curent and quick ratios were
aproximately 2.6 times (2024: aproximately 3.0 times) and aproximately 2.1 times
(2024: aproximately 2.4 times), respectively. The Group’s gearing ratio for the
Review Year was nil (2024: nil).
The Group had cash and cash equivalents of aproximately HK$236.8 milion
as at 31 March 2025, representing a decrease of aproximately 27.3% against
aproximately HK$325.8 milion as at 31 March 2024. Aproximately 88.9%,
7.0% and 3.5% of the total cash and cash equivalents were denominated in
US dolars, Renminbi and Hong Kong dolars respectively, and the remainders
were in other curencies. As at 31 March 2025, the Group had agregated
banking facilities of aproximately HK$162.0 milion (2024: aproximately
HK$160.6 milion) for loans and trade financing, with an unused balance of
aproximately HK$162.0 milion (2024: aproximately HK$160.6 milion).
Management Discusion and Analysis
管理层讨论及分析
12Fujikon Industrial Holdings Limited Anual Report 2024/2025
财务回顾（续）
外汇风险
本集团主要于香港及中国经营业务，交易主要以港元、
人民币及美元结算。本集团所承担之外汇风险主要来
自以相关集团实体功能货币以外之货币结算之未来商
业交易、已确认资产及负债。
于回顾年度，本集团录得汇兑亏损净额约700,000港元
（2024：汇兑收益净额约4,800,000港元）。
人民币近期的波动直接影响本集团营运成本。本集团
会持续监控外汇风险并于适当时候订立外汇远期合约。
或然负债
截至2025年3月31日，本集团并无任何重大或然负债
（2024年3月31日：零）。
雇员资料
于2025年3月31日，本集团聘用约2,000名（2024：2,200名）
雇员。于年内雇员支出（包括董事酬金）约261,600,000港元
（2024：约281,700,000港元）。
本集团亦根据工作表现及成绩制订人力资源政策及程
序。雇员报酬是根据惯常之薪酬及花红制度按员工表
现给予的。酌情花红视乎本集团之溢利表现及个别员
工之表现而定，而雇员褔利已包括宿舍、医疗计划、
购股权计划、香港雇员之强制性公积金计划及中国内
地雇员之国家退休金计划。本集团亦已为其管理层及
雇员提供培训计划，以确保彼等获得适当培训。
财务担保
于2025年3月31日，本公司提供约157,100,000港元（2024：
约155,700,000港元）之企业担保，以作为其附属公司之
银行融资之担保。于2025年及2024年3月31日，附属公
司没有使用任何信贷额。
Financial Review (Continued)
Foreign Exchange Exposure
The Group mainly operates in Hong Kong and China with most transactions
setled in Hong Kong dolars, Renminbi and US dolars. The Group is mainly
exposed to foreign exchange risk arising from future comercial transactions,
recognised asets and liabilities denominated in curencies other than the
functional curency of the group entities to which they relate.
During the Review Year, the Group had recorded a net foreign exchange
loses of aproximately HK$0.7 milion (2024: net foreign exchange gains of
aproximately HK$4.8 milion).
The recent fluctuation of Renminbi directly afected our operating costs. The
Group wil continuously monitor and enter foreign exchange forward contracts
where apropriate.
Contingent Liabilities
As at 31 March 2025, the Group did not have any material contingent liabilities
(31 March 2024: nil).
Employe Information
As at 31 March 2025, the Group employed aproximately 2,000 employes (2024: 2,200).
The staf costs (including the directors’ emoluments) acounted for aproximately
HK$261.6 milion during the year (2024: aproximately HK$281.7 milion).
The Group has developed its human resources policies and procedures based
on performance and merit. Employes are rewarded on a performance-
related basis within the general framework of its salary and bonus system.
Discretionary bonus is linked to the profit performance of the Group as wel
as individual’s performance. Benefits include staf acomodation, medical
schemes, share option scheme, Mandatory Provident Fund for employes in
Hong Kong and state-sponsored retirement plans for employes in China. The
Group has also developed training programs to its management and employes
to ensure they are properly trained.
Financial Guarante
As at 31 March 2025, the Company had provided corporate guarantes of
aproximately HK$157.1 milion (2024: aproximately HK$155.7 milion) to
secure banking facilities of its subsidiaries. No facilities were utilised by the
subsidiaries as at 31 March 2025 and 2024.
Biographical Details of Directors and Senior Management
董事及高级管理层履历
13年报 2024/2025 富士高实业控股有限公司
执行董事
杨志雄先生，M.H.，80岁，本集团联合创办人。自2000
年出任主席及执行董事，并于2011年10月1日获委任为
本公司之行政总裁。杨先生负责本集团之整体策略性
规划及业务发展。彼对于为本集团制订及落实业务政
策上作出重大贡献。杨先生于2004年获香港工业专业
评审局颁发荣誉院士、2007年获香港董事学会颁发杰
出董事奖（执行董事）：上市公司（香港交易所－非恒生
指数成分股）、2014年获香港理工大学颁发院士及英国
华威大学再度颁发工业院士、香港特别行政区成立十
七周年获授荣誉勋章（「M. H.」）、2019年获职业训练局
颁授荣誉院士并分别于2021年获香港城市大学颁授荣
誉院士、2023年获香港城市大学电机工程学系颁发杰
出服务奖。
杨先生于电子及音响行业积逾50多年经验，更于2018
年4月获香港电子业总会颁发香港电子业杰出成就奖。
此外，杨先生为香港中华厂商联合会常务会董、职业
训练局创新及科技训练委员会委员、香港黄大仙工商
业联会名誉会长、香港电子业商会荣誉会长以及东莞
电子业商会名誉会长及副会长、东莞市外商投资企业
协会副监事长及虎门分会长。杨先生是本公司执行
董事杨少聪先生之父亲。
源而细先生，83岁，本集团联合创办人，自2000年出
任联席副主席及执行董事。源先生负责本集团生产事
务及营运之整体策略性规划。彼于2004年获香港工业
专业评审局颁发副院士。源先生在电子行业方面积逾
50多年经验，并对中国贸易具有深入了解。此外，彼
乃东莞市荣誉市民及虎门镇荣誉市民。彼为本公司执
行董事源子敬先生之父亲。
Executive Director
Mr. YEUNG Chi Hung, Johny, M.H., aged 80, is a co-founder of the Group. He
has ben the Chairman and an Executive Director since 2000 and was apointed
as Chief Executive Oficer of the Company on 1 October 2011. Mr. Yeung is
responsible for the overal strategic planing and busines development of
the Group. He is instrumental in the formulation and implementation of the
busines policies of the Group. Mr. Yeung was elected the Honorary Felowship
2004 by The Profesional Validation Council of Hong Kong Industries, Directors
of The Year Awards 2007 (Executive Director): Listed Companies (SEHK – Non
Hang Seng Index Constituents) by The Hong Kong Institute of Directors. In
2014, he was awarded the University Felow of The Hong Kong Polytechnic
University, re-elected the Industrial Felow of Warwick University, the Medal
of Honor (“M. H.”) at the Sevententh Aniversary of the Establishment of the
HKSAR, also awarded the Honorary Felowships of Vocational Training Council
in 2019, bestowed the honorary felowships by The City University of Hong
Kong in 2021 and awarded the Outstanding Service Award organized by the
Department of Electrical Enginering of City University of Hong Kong in 2023
respectively.
Mr. Yeung has over 50 years of experience in the electronics and acoustics
industry and he was elected the Outstanding Achievement Award of Hong
Kong Electronics Industry Council in April 2018. In adition, Mr. Yeung is the
Executive Comite Member of the Chinese Manufacturers’Asociation of
Hong Kong, the Member of Inovation and Technology Training Board of
the Vocational Training Council, the Honorary President of Hong Kong Wong
Tai Sin Industry and Comerce Asociation, the Honorary Chairman of Hong
Kong Electronics Industries Asociation and the Honorary Chairman & the
Vice Chairman of Donguan Electronics Industries Asociation, the Deputy
Supervisor of Donguan City Asociation of Enterprises with Foreign Investment
and the President of Humen Branch respectively. Mr. Yeung is the father of
Mr. Yeung Siu Chung, Ben, an Executive Director of the Company.
Mr. YUEN Ye Sai, Simon, aged 83, is a co-founder of the Group. He has ben
the Joint Deputy Chairman and an Executive Director since 2000. Mr. Yuen
is responsible for the overal strategic planing of production and operation
related afairs of the Group. He was elected the Asociateship 2004 by The
Profesional Validation Council of Hong Kong Industries. Mr. Yuen has over 50
years of experience in the electronics industry and has in depth knowledge of
trading in the PRC. In adition, he is the Honorary Citizen of Donguan City
and Humen Town. Mr. Yuen is the father of Mr. Yuen Chi King, Wyman, an
Executive Director of the Company.
Biographical Details of Directors and Senior Management
董事及高级管理层履历
14Fujikon Industrial Holdings Limited Anual Report 2024/2025
执行董事（续）
周文仁先生，76岁，本集团联合创办人，自2000年出
任联席副主席及执行董事。彼负责本集团相关事务之
整体策略性规划。周先生于2004年获香港工业专业评
审局颁发副院士，更于2015-2016年度获民政事务局
长嘉许计划授予杰出社区服务人士奖。彼于电子及音
响行业（特别是生产及物料管理及存货控制）积逾50多
年经验。
源子敬先生，50岁，本集团之执行董事及首席财务总
监。源先生于2006年8月加入本集团，负责监察本集
团的企业策略和财务职能。由2020年4月1日起，彼被
委任为本公司的公司秘书，负责本集团的公司秘书事
务。源先生毕业于加拿大多伦多大学及美国圣路易大
学，分别取得商学士学位及金融硕士学位。于加入
本集团前，源先生曾于多间区内金融证券机构任职，
负责提供企业融资顾问服务。源先生于金融证券业
方面拥有逾10年以上经验，彼为香港会计师公会之会
员。源先生为本公司联席副主席源而细先生之儿子。
杨少聪先生，49岁，本集团之执行董事及首席营运总
监。彼于2002年加入本集团，并于2007年8月获委任为
执行董事。杨先生负责监督本集团之业务发展部门，
企业策略实施以及致力促进公司管理系统现代化。彼
持有美国耶鲁大学之工商管理硕士学位及美国佩珀代
因大学国际工商理学士学位。杨先生于工程及市场营
销方面拥有逾20年工作经验。彼分别于2013年获香港
工业总会颁发香港青年工业家奖及2014年获BT传媒联
合CSDN共同颁发最具价值CIO。此外，杨先生为香港电
器业协会员及创业者组织(EO)成员。彼为本公司主
席兼行政总裁杨志雄先生之儿子。
Executive Director (Continued)
Mr. CHOW Man Yan, Michael, aged 76, is a co-founder of the Group. He has
ben the Joint Deputy Chairman and an Executive Director since 2000. He is
responsible for the overal strategic planing of related afairs of the Group.
Mr. Chow was elected the Asociateship 2004 by The Profesional Validation
Council of Hong Kong Industries and the Distinguished Service for Comunity
Building of the Secretary for Home Afairs’ Comendation Scheme in the
year of 2015-2016. He has over 50 years of experience in the electronics and
acoustics industry, especialy in production and material management and
inventory control.
Mr. YUEN Chi King, Wyman, aged 50, is an Executive Director and the Chief
Financial Oficer of the Group. Mr. Yuen joined the Group in August 2006
and is responsible for overseing the implementation of corporate strategy
and the financial functions of the Group. With efect from 1 April 2020, he
was apointed as the Company Secretary of the Company and is responsible
for company secretarial maters of the Group. Mr. Yuen graduated from
the University of Toronto, Canada with a Bachelor degre of Comerce and
from Saint Louis University, United States of America with a Master degre
of Finance. Prior to joining the Group, Mr. Yuen has worked for a few
regional financial securities institutions and was responsible for the provision
of corporate finance advisory services. Mr. Yuen has more than 10 years of
experience in financial securities industry and he is a member of the Hong
Kong Institute of Certified Public Acountants. Mr. Yuen is the son of Mr. Yuen
Ye Sai, Simon, the Joint Deputy Chairman of the Company.
Mr. YEUNG Siu Chung, Ben, aged 49, is an Executive Director and Chief
Operating Oficer of the Group. He joined the Group in 2002 and was
apointed as an Executive Director in August 2007. Mr. Yeung is responsible
for overseing the busines development functions and implementing the
corporate strategy of the Group, and comited to modernise the company’s
management system. He holds a Master of Busines Administration degre
from Yale University, United States of America and a Bachelor of Science
degre in International Busines from Peperdine University, United States of
America. Mr. Yeung has over 20 years of working experience in an enginering
and marketing capacity. He was elected Young Industrialist Awards 2013 of
Hong Kong by Federation of Hong Kong Industries and awarded the Most
Valuable CIO by BT Media/CSDN in 2014. In adition, Mr. Yeung is a member
of Hong Kong Electrical Apliance Industries Asociation and a member of
the Entrepreneurs’ Organization (EO). He is the son of Mr. Yeung Chi Hung,
Johny, who is the Chairman and Chief Executive Oficer of the Company.
Biographical Details of Directors and Senior Management
董事及高级管理层履历
15年报 2024/2025 富士高实业控股有限公司
独立非执行董事
吴宏斌博士，74岁，自2021年6月起一直担任独立非
执行董事。吴博士持有燕山大学材料工程硕士学位及
澳门城市大学（前称亚洲（澳门）国际公开大学）工商
管理博士学位。彼于2004年获香港工业专业评审局及
2014/2015年香港理工大学颁发院士荣衔，及于2017年
获职业训练局颁发荣誉院士。吴博士为埃塞俄比亚联
邦民主共和国驻中华人民共和国香港特别行政区名誉
领事。彼于2007年、2013年及2020年分别获香港特别行
政区政府颁授荣誉勋章(MH)、铜紫荆星章(BS)及银紫
荆星章(SBS)。
吴博士为宝星（象牙饰物及珠宝制造商）创办人，现为
宝星行工艺品首饰有限公司董事总经理。彼为香港中
华厂商联合会的永远名誉会长。吴博士现任工业贸易
咨询委员会委员及创新科技署推出的新型工业评审委
员会委员。吴博士于2024年8月1日起出任于香港联合
交易所有限公司上市的公司保发集团国际控股有限公
司（股份代号：3326）的独立非执行董事。
车伟恒先生，57岁，自2000年3月起曾出任本公司独立
非执行董事4年。于2005年6月，车先生重返本公司出
任独立非执行董事。彼获香港大学颁发法律学士学位
及法律专业证书。车先生于1993年获认许为香港最高
法院律师，并亦于同年成为香港律师公会员。车先
生作为香港执业律师逾20年，现时为黄许律师行合伙
人。
李耀斌先生，63岁，从2005年6月起成为独立非执行董
事。李先生持有加拿大The University of Calgary之商科
学士学位，主修会计及市场推广。彼为香港会计师公
会之会员。李先生于1994年至1999年期间在时捷集团
有限公司任职集团财务总监。于1999年至2000年期间
在通达工业（集团）有限公司任职财务总监，并于2000
年至2001年在恒基中国集团有限公司任职副财务董
事，上述所有公司均于香港联交所上市。李先生现时
于一家私人集团公司任职财务副总裁。李先生辞任独
立非执行董事，自2024年6月1日起生效。
Independent Non-Executive Director
Dr. NG Wang Pun, Denis, aged 74, has ben an Independent Non-Executive
Director since June 2021. Dr. Ng holds a master degre in materials enginering
from Yanshan University and a doctorate degre in busines administration
from City University of Macau (formerly known as Asia International Open
University (Macau). He was awarded a felowship by the Profesional
Validation Council of Hong Kong in 2004 and The Hong Kong Polytechnic
University in 2014/2015, and an honorary felowship by Vocational Training
Council in 2017. Dr. Ng is the Honorary Consul of the Federal Democratic
Republic of Ethiopia in the Hong Kong Special Administrative Region of the
People’s Republic of China. He was awarded the Medal of Honor (MH), the
Bronze Bauhinia Star Award (BS) and the Silver Bauhinia Star Award (SBS) by
The Government of the Hong Kong Special Administrative Region in 2007, 2013
and 2020 respectively.
Dr. Ng is the founder of Polaris, an ivory ornaments and jewelry manufacturer
company, and is curently the managing director of Polaris Arts & Jewelry
Limited. He is the Permanent Honorary President of the Chinese Manufacturers’
Asociation of Hong Kong. Dr. Ng is curently a member of the Trade and
Industry Advisory Board and a member of the veting comite of the
New Industrialisation Veting Comite organized by the Inovation and
Technology Comision. Dr. Ng is an independent non-executive director of
Perfect Group International Holdings Limited, a company listed on The Stock
Exchange of Hong Kong Limited (stock code: 3326), with efect from 1 August
2024.
Mr. CHE Wai Hang, Alen, aged 57, had ben an Independent Non-Executive
Director of the Company for 4 years since March 2000. On June 2005, Mr. Che
re-joined the Company as an Independent Non-Executive Director. He holds
a bachelor of laws degre and a postgraduate certificate in laws from The
University of Hong Kong. Mr. Che was admited as a solicitor of the Supreme
Court of Hong Kong in 1993 and also became as a member of The Law Society
of Hong Kong in the same year. Mr. Che has ben practicing as a solicitor
in Hong Kong over 20 years and is curently a partner of Wong, Hui & Co.,
Solicitors.
Mr. LE Yiu Pun, aged 63, has ben an Independent Non-Executive Director
since June 2005. Mr. Le holds a bachelor of comerce degre majoring in
acounting and marketing from The University of Calgary, Canada. He is an
asociate member of the Hong Kong Institute of Certified Public Acountants.
Mr. Le worked as the group financial controler of S.A.S. Dragon Holdings
Limited from 1994 to 1999, the financial controler of Magician Industries
(Holdings) Limited from 1999 to 2000, and deputy finance director of
Henderson China Holdings Limited from 2000 to 2001, al of which are listed
on the Hong Kong Stock Exchange. Mr. Le is curently the vice president of
finance of a private group of companies. Mr. Le resigned as an Independent
Non-Executive Director with efect from 1 June 2024.
Biographical Details of Directors and Senior Management
董事及高级管理层履历
16Fujikon Industrial Holdings Limited Anual Report 2024/2025
Independent Non-Executive Director (Continued)
Ms. TSE Kan, aged 56, has ben an Independent Non-Executive Director since
June 2024. Ms. Tse holds a bachelor’s of economics degre from the University
of Sydney, Australia. She is a felow member of CPA Australia, a member of
the Hong Kong Institute of Certified Public Acountants and a felow member
of the Taxation Institute of Hong Kong. Ms. Tse previously worked for big four
acounting firms in Hong Kong and Singapore. Afterwards, in the comercial
field, in 2008, she was in charge of an acquisition project in New Zealand,
and after the completion of the transaction, she also sucesfuly pased the
Chief Executive Oficer’s “Fit and Proper Person Interview” with the Civil
Aviation Authority of New Zealand. She was the first Asian chief executive
oficer of a New Zealand aviation company and served as the chief executive
oficer of such aviation aircraft manufacturing group of Aircraft Design (Part
146), Aircraft Parts Suply (Part 19F), and Aircraft Manufacturing (Part 148)
Certificates for six years until 2015. During this time, Ms. Tse served as the first
contact person of that Type Certificate in liaising with other state aviation
authorities including CASA (Australia), FA (USA), EASA (Europe) and CAC
(China). In 2016, Ms. Tse (pseudonym: TK Garbo) donated the first English
edition of her novel “Mision from Gondwana” to the BirdLife International of
its 120 Global partners. In 2017, Ms. Tse partnered with a New Zealand design
& certification company on a utility/pasenger (19 seat) aircraft prototype
project.
Senior Management
Mr. MAN Yu Ming, aged 85, is the Managing Director of Fujikon Packing
Material Company Limited. He joined the Group in July 1987.
独立非执行董事（续）
谢勤女士，56岁，自2024年6月起成为独立非执行董
事。谢女士持有澳洲悉尼大学经济学士学位，为澳洲
会计师公会资深会员、香港会计师公会员及香港税
务学会资深会员。谢女士曾任职于香港及新加坡的四
大会计师事务所，随后投身商业领域，于2008年主理
新西兰的一个收购项目，并于交易完成后，亦成功通
过新西兰民航局首席执行官「Fit and Proper Person面试」
资证考核。彼是新西兰航空制造公司首位亚裔首席执
行官，并担任该航空器制造集团三牌（航空器设计146
部、航空器零件生产19F部、航空器制造148部）的首席
执行官六年至2015年。在此期间，谢女士兼任该机型
于其他国家航空局（包括民用航空安全局（澳洲）、联邦
航空管理局（美国）、欧洲航空安全局及中国民用航空
局）的首要联系人。2016年，谢女士（笔名TK Garbo）将
其原创小说「岗瓦纳之约」(Mision from Gondwana）英文
首版捐赠国际鸟盟（BirdLife International）全球120个分
会。于2017年，谢女士与新西兰设计认证院合作，参
与多用途货客机（19座位）样机研发项目。
高级管理层
万汝明先生，85岁，富士高包装物料有限公司之董事
总经理。彼于1987年7月加入本集团。
Report of the Directors
董事会报告
17年报 2024/2025 富士高实业控股有限公司
富士高实业控股有限公司（「本公司」）董事（「董事」）欣
然提呈本公司及其附属公司（统称「本集团」）截至2025
年3月31日止年度（「本年度」）之年报及经审计财务报
表。
主要业务及营运分部分析
本公司之主要业务为投资控股，其附属公司之业务载
列于综合财务报表附注11。本集团于本年度业绩之分
部资料分析载列于综合财务报表附注5。
业务回顾
有关本集团本年度业务之公平回顾及有关本集团未来
业务发展之讨论载于本年报第5至12页之「主席报告」及
「管理层讨论及分析」两节。
有关本集团主要表现指标之概要载于本年报第2页之
「财务摘要」一节。于2025年3月31日后并无发生对本集
团构成影响之重大事件。
业务营运及业绩或会受多种因素影响。有关本集团所
面临主要风险及不确定因素之讨论载于本年报第5至12
页之「主席报告」及「管理层讨论及分析」两节。财务风
险因素载于综合财务报表附注3。风险管理详情载于本
年报第39至40页之「企业管治报告」一节内「风险管理及
内部监控」一段。
此外，有关环境政策及表现之讨论、对本集团构成重
大影响之地方相关法律法规之遵守情况以及本集团与
其雇员、客户及供应商之主要关系论述载于本年报第
48至80页之「环境、社会及管治报告」一节。
The directors (the “Directors”) of Fujikon Industrial Holdings Limited (the
“Company”) have the pleasure of presenting the anual report together with
the audited financial statements of the Company and its subsidiaries (together,
the “Group”) for the year ended 31 March 2025 (the “Year”).
Principal activities and segment analysis of operations
The principal activity of the Company is investment holding. The activities of
the subsidiaries are set out in Note 11 to the consolidated financial statements.
An analysis of the Group’s performance for the Year by segment information is
set out in Note 5 to the consolidated financial statements.
Busines review
A fair review of the busines of the Group during the Year and a discusion on
the Group’s future busines development are set out in the sections headed
“Chairman’s Statement” and “Management Discusion and Analysis” on pages
5 to 12 of this anual report.
A sumary of the key performance indicators of the Group is set out in the
section headed “Financial Highlights” on page 2 of this anual report. No
important event afecting the Group has ocured after 31 March 2025.
The busines operations and results may be afected by various factors. The
discusion of principal risks and uncertainties faced by the Group are set out
in the sections headed “Chairman’s Statement” and “Management Discusion
and Analysis” on pages 5 to 12 of this anual report. The financial risk factors
are set out in Note 3 to the consolidated financial statements. Details of risk
management are set out in the section headed “Corporate Governance Report”
under the paragraph headed “Risk management and internal control” on
pages 39 to 40 of this anual report.
In adition, discusions on the environmental policies and performance,
compliance with the relevant local laws and regulations that have a significant
impact on the Group and the acount of the key relationships of the Group
with its employes, customers and supliers are set out in the section headed
“Environmental, Social and Governance Report” on pages 48 to 80 of this
anual report.
Report of the Directors
董事会报告
18Fujikon Industrial Holdings Limited Anual Report 2024/2025
业绩及拨款
本集团本年度之业绩载列于本年报第90至91页之综合
全面收益表。
股息
本年度已派发每股普通股中期股息2.0港仙。董事建议
派付每股普通股末期股息5.0港仙（「股息」），惟须待
股东于应届股东周年大会（「股东周年大会」）上批准作
实。股息预期于2025年9月12日向2025年8月28日名列本
公司股东名册之股东派付。
其他储备
本集团及本公司于本年度其他储备之变动分别载列于
综合财务报表附注19及33。
股本及购股权
本公司股本及购股权之变动详情分别载列于综合财务
报表附注17及18。
可供分派储备
于2025年3月31日，本公司可供分派予本公司股东之储
备约为138,800,000港元（受百慕达《1981年公司法》（经修
订）之条文所限）及保留溢利约为28,175,000港元。
优先认购权
本公司之公司细则（「公司细则」）及百慕达法例并无载
有优先认购权之规定。
购买、出售或赎回股份
本公司及其任何附属公司于本年度概无购买、出售
或赎回任何本公司上市证券（包括出售库存股份，如
有）。于本年度，本公司及其附属公司概无持有任何库
存股份。
Results and apropriations
The results of the Group for the Year are set out in the consolidated statement
of comprehensive income on pages 90 to 91 of this anual report.
Dividends
An interim dividend of HK2.0 cents per ordinary share was paid during the Year.
The Directors recomended the payment of a final dividend of HK5.0 cents
per ordinary share (the “Dividend”), subject to the aproval by the
shareholders at the forthcoming anual general meting (the “Anual General
Meting”). The Dividend is expected to be paid on 12 September 2025, to
those shareholders whose names apeared on the register of members of the
Company on 28 August 2025.
Other reserves
Movements in other reserves of the Group and the Company during the
Year are set out in Notes 19 and 33 to the consolidated financial statements
respectively.
Share capital and share options
Details of movements in share capital and share options of the Company
are set out in Notes 17 and 18 to the consolidated financial statements
respectively.
Distributable reserves
As at 31 March 2025, the Company’s reserves of aproximately HK$138,800,000
(subject to provisions of the Companies Act 1981 of Bermuda (as amended)
and retained earnings of aproximately HK$28,175,000 were available for
distribution to the Company’s shareholders.
Pre-emptive rights
There is no provision for pre-emptive rights under the Company’s bye-laws (the
“Bye-Laws”) and the laws in Bermuda.
Purchase, sale or redemption of shares
Neither the Company nor any of its subsidiaries has purchased, sold or
redemed any of the Company’s listed securities (including sale of treasury
shares, if any) during the Year. During the Year, the Company and its
subsidiaries did not hold any treasury shares.
Report of the Directors
董事会报告
19年报 2024/2025 富士高实业控股有限公司
捐款
本集团于本年度之慈善及其他捐款约为102,000港元。
物业、厂房及设备
本集团于本年度物业、厂房及设备之变动详情载列于
综合财务报表附注6。
退休金计划
退休金计划详情载列于综合财务报表附注31。
五年财务撮要
本集团过去五个财政年度之财务资料之撮要载列于本
年报第3至4页。
董事
本年度及截至本报告日期任职之董事如下：
执行董事
杨志雄先生（主席兼行政总裁）
源而细先生（联席副主席）
周文仁先生（联席副主席）
源子敬先生
杨少聪先生
独立非执行董事
吴宏斌博士
车伟恒先生
谢勤女士（于2024年6月1日起获委任）
李耀斌先生（于2024年6月1日起辞任）
根据公司细则，当时三分之一在任董事须轮值退任，
惟各董事须至少每隔三年在股东周年大会上轮值退任
一次。根据公司细则第99条，源而细先生、杨少聪先生
及吴宏斌博士将于股东周年大会上轮流退任董事职
务。该等董事符合资格且愿意于股东周年大会膺选连
任。其余所有董事将继续任职。
拟将于股东周年大会上膺选连任的董事的简历资料载
于第13至16页。
Donations
Charitable and other donations made by the Group during the Year amounted
to aproximately HK$102,000.
Property, plant and equipment
Details of movements in property, plant and equipment of the Group during
the Year are set out in Note 6 to the consolidated financial statements.
Retirement schemes
Particulars of retirement schemes are set out in Note 31 to the consolidated
financial statements.
Five-year financial sumary
A sumary of the Group’s financial information for the last five financial years
is set out on pages 3 to 4 of this anual report.
Directors
The Directors who held ofice during the Year and up to the date of this
report were:
Executive Directors
Mr. Yeung Chi Hung, Johny (Chairman & Chief executive oficer)
Mr. Yuen Ye Sai, Simon (Joint deputy chairman)
Mr. Chow Man Yan, Michael (Joint deputy chairman)
Mr. Yuen Chi King, Wyman
Mr. Yeung Siu Chung, Ben
Independent Non-Executive Directors
Dr. Ng Wang Pun, Denis
Mr. Che Wai Hang, Alen
Ms. Tse Kan (apointed with efect from 1 June 2024)
Mr. Le Yiu Pun (resigned with efect from 1 June 2024)
Acording to the Bye-Laws, one-third of the Directors for the time being shal
retire from ofice by rotation provided that every Director shal be subject
to retirement at an anual general meting at least once every thre years.
Pursuant to Bye-Law 99, Mr. Yuen Ye Sai, Simon, Mr. Yeung Siu Chung,
Ben and Dr. Ng Wang Pun, Denis wil retire from the ofice of Directors by
rotation at the Anual General Meting. Such Directors, being eligible, wil
ofer themselves for re-election at the Anual General Meting. Al the other
Directors wil remain in ofice.
Brief biographical details of the Directors who wil be proposed for re-election
at the Anual General Meting are set out on pages 13 to 16.
Report of the Directors
董事会报告
20Fujikon Industrial Holdings Limited Anual Report 2024/2025
Director’s interest in competing busines
None of the Directors is or was interested in any busines apart from the
Group’s busines that competes or competed or is or was likely to compete,
either directly or indirectly, with the Group’s busines at any time during the
Year and up to and including the date of this anual report.
Directors’ service contracts
None of the Directors have an unexpired service contract which is not
determinable by the Company or any of its subsidiaries within one year
without payment of compensation other than statutory compensation.
Independence of independent non-executive Directors
The Company has received from each of the independent non-executive
Directors an anual confirmation of independence pursuant to Rule 3.13 of
the Rules (the “Listing Rules”) Governing the Listing of Securities on The Stock
Exchange of Hong Kong Limited (the “Stock Exchange”) and considers al
independent non-executive Directors to be independent.
Directors’ and chief executive’s interests in shares,
underlying shares and debentures of the Company or its
asociated corporations
As at 31 March 2025, the Directors and chief executives of the Company had
the folowing interests or short positions in the Shares, underlying Shares and
debentures of the Company or its asociated corporations (within the meaning
of Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of
Hong Kong) (the “SFO”) as recorded in the register required to be kept under
Section 352 of the SFO, or as otherwise notified to the Company and the Stock
Exchange pursuant to the Model Code for Securities Transactions by Directors
of Listed Isuers (the “Model Code”), were as folows:
Interests in the Company
Number of ordinary shares of
HK$0.10 each (the “Shares”)
每股0.10港元之普通股（「股份」）数目
Name of Directors
Beneficial
interests
Interest of
controled
corporationsTotal
*Aproximate percentage
of shareholding
董事姓名实益权益受控制法团权益总计*概约持股百分比
Yeung Chi Hung, Johny杨志雄17,221,000–17,221,0004.04%
Yuen Ye Sai, Simon源而细1,00064,571,500
(1)
64,572,50015.16%
Chow Man Yan, Michael周文仁9,375,00070,571,500
(2)
79,946,50018.77%
Yeung Siu Chung, Ben杨少聪32,020,00042,571,500
(3)
74,591,50017.52%
* The percentage has ben compiled based on the total number of Shares in isue (i.e.
425,839,000 Shares) as at 31 March 2025.
董事于竞争业务之权益
于本年度及直至本年度报告日期（包括该日）内任何时
间，概无董事于本集团业务以外任何直接或间接与本
集团业务构成或曾构成或可能构成竞争的业务中拥有
或曾拥有权益。
董事服务合约
董事概无订立任何本公司或其任何附属公司不得于一
年内终止而毋须作出赔偿（法定补偿除外）之未届满服
务合约。
独立非执行董事之独立性
本公司已接获各独立非执行董事根据香港联合交易所
有限公司（「联交所」）证券上市规则（「上市规则」）第
3.13条发出之年度独立性确认函，并认为所有独立非
执行董事均属独立人士。
董事及主要行政人员于本公司或其联营公
司之股份、相关股份及债券之权益
于2025年3月31日，本公司董事及主要行政人员于本公
司或其联营公司（定义见证券及期货条例（香港法例第
571章）（「证券及期货条例」）第XV部）之股份、相关股份
及债券中拥有下列须记入根据证券及期货条例第352条
所存置之登记册，或根据上市发行人董事进行证券交
易的标准守则（「标准守则」）须知会本公司及联交所之
权益或淡仓：
于本公司之权益
- （即
425,839,000股份）计算。
Report of the Directors
董事会报告
21年报 2024/2025 富士高实业控股有限公司
Directors’ and chief executive’s interests in shares,
underlying shares and debentures of the Company or its
asociated corporations (Continued)
Interests in the Company (Continued)
Notes:
1. The 64,571,500 Shares are held by Sky Talent Enterprises Limited, a private limited
company beneficialy wholy owned by Mr. Yuen Ye Sai, Simon.
2. The 70,571,500 Shares are held by Asia Supreme Limited, a private limited company
beneficialy wholy owned by Mr. Chow Man Yan, Michael.
3. The 42,571,500 Shares are held by Loyal Fair Group Limited, a private limited
company wholy owned by Mr. Yeung Siu Chung, Ben.
Save as disclosed above, none of the Directors and chief executives of the
Company had any interests and short positions in the Shares, underlying Shares
and debentures of the Company or its asociated corporations (within the
meaning of the SFO) as recorded in the register required to be kept under
Section 352 of the SFO, or as otherwise required to be notified to the Company
and the Stock Exchange pursuant to the Model Code as at 31 March 2025.
Information on share option schemes
The Company adopted share option schemes under which it may grant options
to eligible participants (including Executive Directors) to subscribe for Shares.
At the anual general meting of the Company held on 12 August 2022, an
ordinary resolution was pased for the adoption of a share option scheme (the
“Share Option Scheme”). The Share Option Scheme was amended with efect
on 25 August 2023.
As at 31 March 2025, no options were granted under the Share Option Scheme.
董事及主要行政人员于本公司或其联营公
司之股份、相关股份及债券之权益（续）
于本公司之权益（续）
附注：
- ,571,500股份由Sky Talent Enterprises Limited持有，
Sky Talent Enterprises Limited为一间由源而细先生全资实
益拥有的私人有限公司。
- ,571,500股份由Asia Supreme Limited持有，Asia
Supreme Limited为一间由周文仁先生全资实益拥有的私
人有限公司。
- ,571,500股份由Loyal Fair Group Limited持有，Loyal
Fair Group Limited为一间由杨少聪先生全资拥有的私人
有限公司。
除上文所披露者外，于2025年3月31日，概无本公司董
事及主要行政人员于本公司或其联营公司（定义见证券
及期货条例）之股份、相关股份及债券中拥有任何须记
入根据证券及期货条例第352条所存置之登记册之权益
及淡仓，或须根据标准守则知会本公司及联交所之权
益及淡仓。
购股权计划之资料
本公司已采纳购股权计划。据此，本公司可向合资格
参与者（包括执行董事）授出可认购股份之购股权。
本公司于2022年8月12日所举行之股东周年大会上，通
过一项普通决议案以采纳一份购股权计划（「购股权计
划」）。购股权计划于2023年8月25日予以修订。
于2025年3月31日，并无根据购股权计划授出任何购股
权。
Report of the Directors
董事会报告
22Fujikon Industrial Holdings Limited Anual Report 2024/2025
购股权计划之资料（续）
购股权计划之主要条款如下：
1. 购股权计划之目的
购股权计划之目的为：
(i) 本公司可向合资格参与者授出购股权，作为
对合资格参与者为本集团增长及发展所作贡
献之奖励或奖赏；
(i) 吸引及挽留人员以促进本集团的可持续发
展；及
(i) 使承授人的利益与股东的利益保持一致，以
提升本公司的长期财务及业务表现。
2. 购股权计划之合资格参与者
(i) 本公司或其附属公司之任何雇员（不论全职
或兼职，包括任何执行董事，惟不包括任何
非执行董事）（及包括根据购股权计划获授购
股权或奖励以促成其与该等公司订立雇佣合
约的人士）；
(i) 本公司或其任何附属公司之任何非执行董事
（包括独立非执行董事）；及
(i) 本公司控股公司、同系附属公司或联营公司
的任何董事或雇员。
3. 购股权计划可供发行之股份总数及占2025年
3月31日已发行股本之百分比
42,583,900股份（相当于2025年3月31日已发行股
本总额（不包括库存股份）10%）。
于2024年4月1日及2025年3月31日，根据计划授权
限额可供授出的购股权数目分别为42,583,900份及
42,583,900份。
4. 各参与者根据购股权计划可获发行之股份数
目上限
就根据股份计划（包括购股权计划）授出之所有购
股权及奖励而可能向个人参与者配发及发行之股
份最高数目，于任何12个月期间不超过本公司当
时已发行股本之1%。超过此上限的任何进一步购
股权批授必须经股东于股东大会逐项批准。
Information on share option schemes (Continued)
The principal terms of the Share Option Scheme are as folows:
1. Purpose of the Share Option Scheme
The purpose of the Share Option Scheme are:
(i) to enable the Company to grant Options to the eligible participants
as incentive or rewards to eligible participants for their contribution
to the growth and development of the Group;
(i) to atract and retain personel to promote the sustainable
development of the Group; and
(i) to align the interest of the grantes with those of the Shareholders
to promote the long-term financial and busines performance of
the Company.
2. Eligible participants of the Share Option Scheme
(i) any employe (whether ful-time or part-time, including any
executive director but excluding any non-executive director) of
the Company or its subsidiaries (and including persons who are
granted options or awards under the Share Option Scheme as
an inducement to enter into employment contracts with these
companies);
(i) any non-executive directors (including independent non-executive
directors) of the Company or any of its subsidiaries; and
(i) any director or employe of the holding company(ies), felow
subsidiary(ies) or asociated company(ies) of the Company.
3. Total number of Shares available for isue under the Share
Option Scheme and percentage to the isued share capital as at
31 March 2025
42,583,900 Shares (10% of the total isued share capital (excluding
treasury shares) as at 31 March 2025).
The number of options available for grant under the scheme mandate
limit as at 1 April 2024 and 31 March 2025 was 42,583,900 and
42,583,900, respectively.
4. Maximum entitlement of each participant under the Share Option
Scheme
Maximum number of Shares which may be aloted and isued in respect
of al options and awards granted under the share scheme(s), including
the Share Option Scheme, to an individual participant shal not exced
1% of the isued share capital of the Company for the time being in any
12-month period. Any further grant of options in exces of such limit
must be separately aproved by the Shareholders in general meting.
Report of the Directors
董事会报告
23年报 2024/2025 富士高实业控股有限公司
购股权计划之资料（续）
5. 必须根据购股权认购股份之期限
购股权认购期限将由董事厘定及通知承授人，但
该期限不得迟于购股权要约当日起计10年。
6. 行使购股权前必须持有购股权之归属期
最少十二个月的归属期，惟倘向雇员参与者授予
购股权的归属期较短，则须获得董事批准，及倘
向本公司董事及高级管理人员授予购股权的归属
期较短，则须获得董事会薪酬委员会批准。
- ，以及必须或
可予缴款或催缴款项之期间
于接纳当日或之前（不得迟于自要约当日起计21
日）汇寄1.0港元予本公司。
8. 厘定行使价之基准
由董事厘定，惟不会低于下列各项之最高者：
- （必须为营业日）股份于联交所每日
报价表所示之收市价；
b. 紧接要约当日前五个营业日股份于联交所每
日报价表所示平均收市价；及
- （倘适用）股份面值。
9. 购股权计划余下之年期
购股权计划自2022年8月12日（即采纳购股权计划
之全部条件获达成之日）起计10年期间有效及生
效。于本年报日期，购股权计划的剩余年期为约
7年。
于本年度内，概无根据购股权计划授出购股权。
于本年度任何时间，本公司或其任何附属公司或控股
公司并无参与任何安排，致使任何董事或本公司主要
行政人员可藉购入本公司或任何其他法人团体之股份
或债务证券（包括债券）而取得利益。
Information on share option schemes (Continued)
5. The period within which the Shares must be taken up under an
option
A period (which may not expire later than 10 years from the date of
ofer of that option) to be determined and notified by the Directors to
the grante thereof.
6. The vesting period for which an option must be held before it
can be exercised
A minimum vesting period of 12 months, save that where grant of share
options to employe participants with a shorter vesting period must
be aproved by the Directors, and where a grant of share options to
Directors and senior management of the Company with a shorter vesting
period must be aproved by the remuneration comite of the Board.
7. The amount payable on aplication or aceptance of the option
and the period within which payments or cals must or may be
made
A remitance in favour of the Company of HK$1.0 on or before the date
of aceptance (which may not be later than 21 days from the date of
ofer).
8. The basis of determining the exercise price
Being determined by the Directors and being not les than the highest
of:
- ’s
daily quotations shet on the date of ofer which must be a
busines day;
b. the average closing price of the Shares as stated in the Stock
Exchange’s daily quotations shets for the five busines days
imediately preceding the date of ofer; and
c. (where aplicable) the nominal value of the Shares.
9. The remaining life of the Share Option Scheme
The Share Option Scheme is valid and efective for a period of 10 years
comencing on 12 August 2022 (being the date of fulfilment of al
conditions on the adoption of the Share Option Scheme). As at the date
of this anual report, the remaining life of the Share Option Scheme is
aproximately 7 years.
During the Year, no options had ben granted under the Share Option Scheme.
At no time during the Year was the Company or any of its subsidiaries
or holding companies a party to any arangements to enable any of the
Directors or the Company’s chief executive to acquire benefits by means of
the acquisition of shares in, or debt securities (including debentures) of, the
Company or any other body corporate.
Report of the Directors
董事会报告
24Fujikon Industrial Holdings Limited Anual Report 2024/2025
董事于合约、交易或安排中之权益
除综合财务报表附注32所披露之关连人士交易外，于
本年度末或本年度内任何时间，本公司或其任何附属
公司或控股公司并无就本集团之业务签订任何董事或
本公司主要行政人员直接或间接拥有重大权益之重要
合约、交易或安排。
主要股东于本公司股份及相关股份之权益
以下人士（并非本公司董事或主要行政人员）于2025年3
月31日持有已发行普通股5%或以上之股份及相关股份
之权益或淡仓，而须根据证券及期货条例第XV部第2及
第3分部之规定向本公司披露，并且已载入本公司根据
证券及期货条例第336条存置之登记册。
- （即
425,839,000股份）计算。
Directors’ interests in contracts, transactions or
arangements
Save for the related party transactions disclosed in Note 32 to the consolidated
financial statements, no contracts, transactions or arangements of significance
in relation to the Group’s busines to which the Company or any of its
subsidiaries or holding companies was a party and in which any of the
Directors or the Company’s chief executive had a material interest, whether
directly or indirectly, subsisted at the end of the Year or at any time during
the Year.
Substantial shareholders’ interests in the shares and
underlying shares of the Company
The folowing persons (not being a Director or chief executive of the
Company) had interests or short positions in the Shares and underlying Shares
at 31 March 2025 amounting to 5% or more of the ordinary Shares in isue
which would fal to be disclosed to the Company under the provisions of
Divisions 2 and 3 of Part XV of the SFO and which have ben recorded in the
register kept by the Company pursuant to the section 336 of the SFO.
Name of shareholder
Number of
SharesCapacityNote
*Aproximate
percentage of
interest
股东名称╱姓名股份数目身份附注*概约权益百分比
Sky Talent Enterprises Limited64,571,500Beneficial owner215.16%
实益拥有人
Asia Supreme Limited70,571,500Beneficial owner316.57%
实益拥有人
Loyal Fair Group Limited42,571,500Beneficial owner410.00%
实益拥有人
Ms. Leung Won Ye64,572,500Interest of spouse515.16%
梁焕仪女士配偶之权益
Ms. Cai Liting79,946,500Interest of spouse618.77%
蔡丽婷女士配偶之权益
Ms. Zong Xiao Cui74,591,500Interest of spouse717.52%
宗小翠女士配偶之权益
Mr. David Michael Web44,270,000Interest of controled corporation810.40%
David Michael Web先生受控制法团之权益
Preferable Situation Asets Limited26,197,600Beneficial owner86.15%
实益拥有人
* The percentage has ben compiled based on the total number of Shares in isue (i.e.
425,839,000 Shares) as at 31 March 2025.
Report of the Directors
董事会报告
25年报 2024/2025 富士高实业控股有限公司
主要股东于本公司股份及相关股份之权益
（续）
附注：
- 。
2. Sky Talent Enterprises Limited由源而细先生全资拥有。
3. Asia Supreme Limited由周文仁先生全资拥有。
4. Loyal Fair Group Limited由杨少聪先生全资拥有。
- 。
- 。
- 。
- ，David Michael Web先生持有的股
份由Preferable Situation Asets Limited及Member One
Limited实益持有，而该两家公司的全部已发行股本由
David Michael Web先生拥有。就董事所知，Member
One Limited实益拥有18,072,400股份，占本公司于2025
年3月31日约4.24%之权益。根据证券及期货条例，David
Michael Web先生被视为于Preferable Situation Asets
Limited及Member One Limited持有之全部股份中拥有权
益。因此，David Michael Web先生持有合共44,270,000
股份之权益。
除上文所披露者外，据董事所知，于2025年3月31日，
概无其他人士于股份及相关股份中拥有须根据证券及
期货条例第XV部第2及第3分部之规定向本公司披露之
权益或淡仓。
管理合约
于本年度，并无订立或存在任何有关本公司全部或任
何大部份业务之管理及行政合约。
股票挂钩协议
年内本公司并无订立或存续股票挂钩协议而将会或可
能导致本公司发行股份或要求本公司订立任何将会或
可能导致本公司发行股份之协议。
Substantial shareholders’ interests in the shares and
underlying shares of the Company (Continued)
Notes:
1. Interests in the Shares and the underlying Shares stated above represented long
positions.
2. Sky Talent Enterprises Limited was wholy owned by Mr. Yuen Ye Sai, Simon.
3. Asia Supreme Limited was wholy owned by Mr. Chow Man Yan, Michael.
4. Loyal Fair Group Limited was wholy owned by Mr. Yeung Siu Chung, Ben.
5. Ms. Leung Won Ye is the wife of Mr. Yuen Ye Sai, Simon.
6. Ms. Cai Liting is the wife of Mr. Chow Man Yan, Michael.
7. Ms. Zong Xiao Cui is the wife of Mr. Yeung Siu Chung, Ben.
8. The Shares held by Mr. David Michael Web were beneficialy held by Preferable
Situation Asets Limited and Member One Limited, the entire isued share capital
of both companies were owned by Mr. David Michael Web as at 31 March
2025. As far as the Directors are aware, Member One Limited beneficialy owned
18,072,400 Shares, representing aproximately 4.24% interest in the Company as at
31 March 2025. By virtue of the SFO, Mr. David Michael Web was demed to be
interested in al the Shares held by Preferable Situation Asets Limited and Member
One Limited. Acordingly, Mr. David Michael Web had an agregate interest in
44,270,000 Shares.
Save as disclosed above, so far as is known to the Directors, there was no other
person who had an 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 as at 31 March 2025.
Management contracts
No contract concerning the management and administration of the whole
or any substantial part of the busines of the Company was entered into or
existed during the Year.
Equity-linked agrements
No equity-linked agrements that wil or may result in the Company isuing
Shares or that require the Company to enter into any agrements that wil or
may result in the Company isuing Shares were entered into by the Company,
or subsisted during the Year.
Report of the Directors
董事会报告
26Fujikon Industrial Holdings Limited Anual Report 2024/2025
主要客户及供应商
于本年度，本集团五大客户占本集团总收入约80.9%，
而本集团五大供应商占本集团总采购额约25.7%。本集
团之最大客户占本集团总收入约25.4%。本公司董事、
彼等之紧密联系人或任何股东（就董事所知，拥有本公
司股本逾5%者）概无于该等五大客户及╱或五大供应
商拥有权益。
认可弥偿保证条文
公司细则规定，每位董事有权就履行其职务或在其他
有关方面蒙受或产生之所有损失或责任自本公司之资
产中获得弥偿。于本年度，本公司已为董事维持适当
的董事责任保险保障。
关连交易
非豁免关连交易之详情载列如下：
兹提述本公司日期为2024年8月30日之公布（「关连交易
公布」）。于2024年8月30日（交易时段后）：
(i) 本公司非全资附属公司东莞富采包装制品有限公
司（作为租户）与光明（东莞）柯式印务纸品厂有限
公司（「光明（东莞）」）（作为业主）就租赁一幅位
于中国广东省东莞市虎门镇大宁管理区大板地工
业区的地块订立租赁协议，租期自2024年9月1日
起为期两年（「中国租赁协议」），月租为人民币
374,877元；及
(i) 本公司全资附属公司富士高实业有限公司（作为
租户）与世嘉科技有限公司（「世嘉」）（作为业主）
就租赁一项香港物业订立租赁协议，租期自2024
年9月1日起为期两年（「香港租赁协议」），月租为
87,257.50港元。
Major customers and supliers
For the Year, the five largest customers acounted for aproximately 80.9%
of the Group’s total revenue and the five largest supliers of the Group
acounted for aproximately 25.7% of the Group’s total purchases. The largest
customer to the Group acounted for aproximately 25.4% of the Group’s total
revenue. None of the Directors, their close asociates, or any shareholders (which,
to the knowledge of the Directors, owned more than 5% of the Company’s
share capital) of the Company had an interest in these five largest customers
and/or these five largest supliers.
Permited Indemnity Provision
The Bye-Laws provides that every Director shal be entitled to be indemnified
out of the asets of the Company against al loses or liabilities which he/she
may sustain or incur in or about the execution of the duties of his/her ofice
or otherwise in relation thereto. The Company has maintained apropriate
Directors’ liability insurance coverage for the Directors during the Year.
Conected Transaction
Particulars of the non-exempt conected transactions are set out below:
Reference is made to the anouncement of the Company dated 30 August 2024
(“CT Anouncement”). On 30 August 2024 (after trading hours):
(i) 东莞富采包装制品有限公司 (Dong Guan Fortune Packing Products Company
Limited*), a non-wholy-owned subsidiary of the Company (as tenant)
and 光明（东莞）柯式印务纸品厂有限公司 (The Bright (Donguan) Printing
Pres & Paper Products Factory Ltd*) (“Bright (Donguan)”) (as landlord)
entered into a tenancy agrement in respect of the leasing of a piece of
land located at 中国广东省东莞市虎门镇大宁管理区大板地工业区 (Dabandi
Industrial Zone, Daning Management Zone, Humen Town, Donguan
City, Guangdong Province, the PRC*) for a term of two years from 1
September 2024 (the “PRC Tenancy Agrement”), with monthly rental fe
being RMB374,877; and
(i) Fujikon Industrial Company Limited, a wholy-owned subsidiary of
the Company (as tenant), and First Suces Technology Limited (“First
Suces”) (as landlord) entered into a leasing agrement in respect of
the leasing of a Hong Kong property for a term of two years from 1
September 2024 (the “HK Tenancy Agrement”), with monthly rent being
HK$87,257.50.
For identification purposes only 仅供识别
Report of the Directors
董事会报告
27年报 2024/2025 富士高实业控股有限公司
关连交易（续）
于关连交易公布日期，光明（东莞）（作为中国租赁协
议业主）及世嘉（作为香港租赁协议业主）各自由Loyal
Fair Group Limited（「Loyal Fair」）、Sky Talent Enterprises
Limited（「Sky Talent」）及Gentle Smile Development Limited
（「Gentle Smile」）分别间接拥有约33.33%、33.33%及
33.33%权益。于关连交易公布日期，(i) Loyal Fair由执
行董事兼主要股东杨少聪先生全资拥有；(i) Sky Talent
由执行董事兼主要股东源而细先生全资拥有；及(i)
Gentle Smile由执行董事兼主要股东周文仁先生全资拥
有。因此，光明（东莞）及世嘉各自为本公司的关连人
士，中国租赁协议及香港租赁协议项下拟进行的交易
构成上市规则第14A章项下本公司的关连交易。有关中
国租赁协议及香港租赁协议之详情，请参阅关连交易
公布。
本集团订立的其他重大关联方交易之详情载于综合财
务报表附注32。除上文所述之不获豁免关连交易（已就
此遵守上市规则第14A章之披露规定）外，该等关联方
交易概无构成上市规则所界定之须予披露关连交易。
重大投资、收购、出售及重大投资或资本
资产的未来计划
兹提述本公司日期为2024年8月14日的公告（「须予披露
交易公告」）。于2024年6月26日，本公司全资附属公司
Smart Suces Management Limited以代价2,914,800美元
购入证券名称为「于2025年1月13日到期之中国工商银
行卢森堡分行存款证」之存款产品（面值为3,000,000美
元）。于本年报日期，上述存款产品已到期。请参阅须
予披露交易公告以了解有关购入上述存款产品的详情。
除本报告所披露者外，于本年度，概无其他持有的重
大投资、重大收购或出售，亦无获本集团授权的任何
其他重大投资或添置资本资产计划。
审核委员会
审核委员会已审阅本集团于本年度之财务报表，认为
有关报表符合适用会计准则、上市规则以及适用法
律、守则及规例之规定，亦已据此作出充分披露。
Conected Transaction (Continued)
As at the date of the CT Anouncement, each of Bright (Donguan) (as
landlord of the PRC Tenancy Agrement) and First Suces (as landlord of the
HK Tenancy Agrement) was indirectly owned by Loyal Fair Group Limited
(“Loyal Fair”), Sky Talent Enterprises Limited (“Sky Talent”) and Gentle Smile
Development Limited (“Gentle Smile”) as to aproximately 33.33%, 33.33%
and 33.33%, respectively. As at the date of the CT Anouncement, (i) with
respect to Loyal Fair, it was wholy owned by Mr. Yeung Siu Chung, Ben (an
executive Director and a substantial Shareholder); (i) with respect to Sky
Talent, it was wholy-owned by Mr. Yuen Ye Sai, Simon (an executive Director
and a substantial Shareholder); and (i) with respect to Gentle Smile, it was
wholy-owned by Mr. Chow Man Yan, Michael (an executive Director and a
substantial Shareholder). Thus, each of Bright (Donguan) and First Suces
was a conected person of the Company and the transactions contemplated
under the PRC Tenancy Agrement and the HK Tenancy Agrement constituted
conected transactions for the Company under Chapter 14A of the Listing
Rules. Please refer to the CT Anouncement for details relating to the PRC
Tenancy Agrement and the HK Tenancy Agrement.
Details of other material related party transactions entered into by the Group
are set out in Note 32 to the consolidated financial statements. Except for the
non-exempt conected transaction(s) described above, in respect of which the
disclosure requirements in acordance with Chapter 14A of the Listing Rules
have ben complied with, none of those related party transactions constitutes
a discloseable conected transaction as defined under the Listing Rules.
Significant Investments, Acquisitions, Disposals and Future
Plans for Material Investments or Capital Asets
Reference is made to the anouncement of the Company dated 14 August 2024
(“DT Anouncement”). On 26 June 2024, Smart Suces Management Limited,
a wholy-owned subsidiary of the Company, acquired the deposit product
with the security name “ICBC LUXEMBOURG BRANCH CERTIFICATE OF DEPOSIT
MATURE ON 13JAN2025” (which had a nominal value of USD3,000,000)
at a consideration of USD2,914,800. As at the date of this anual report,
the abovementioned deposit product has matured. Please refer to the DT
Anouncement for details relating to the acquisition of the abovementioned
deposit product.
Save as disclosed in this report, there were no other significant investments
held, no material acquisitions or disposals, nor was there any plan authorised
by the Group for other material investments or aditions of capital asets
during the Year.
Audit Comite
The Audit Comite has reviewed the Group’s financial statements for the
Year and is of the opinion that such statements comply with the aplicable
acounting standards, the Listing Rules and the requirements of aplicable
laws, codes and regulations and that adequate disclosure pursuant thereto
have ben made.
Report of the Directors
董事会报告
28Fujikon Industrial Holdings Limited Anual Report 2024/2025
税务宽免
本公司并不知悉股东因持有本公司股份而可享有之任
何税务宽免。
公众持股量
根据本公司可从公开途径取得的资料及就董事所知，
于本报告日期，公众股东持有上市规则规定之足够公
众持股量（即占本公司已发行股份25%以上）。
董事资料变动
于本年报日期，并无董事及主要行政人员的资料变动
须根据上市规则第13.51(2)及13.51B条作出披露。
核数师
于过往三年，本公司核数师概无变动。
综合财务报表已由罗兵咸永道会计师事务所审核，彼
等将告任满，惟符合资格并愿意于股东周年大会上连
任。
代表董事会
杨志雄
主席兼行政总裁
香港，2025年6月27日
Tax Relief and Exemption
The Company is not aware of any tax relief and exemption to which the
shareholders of the Company are entitled by reason of their holding of the
shares of the Company.
Public float
Based on the information that is publicly available to the Company and within
the knowledge of the Directors as at the date of this report, there is suficient
public float of more than 25% of the Company’s isued shares as required
under the Listing Rules.
Change in Director’s information
There were no changes in the information of the Directors and Chief Executive
Oficers which are required to be disclosed pursuant to Rule 13.51(2) and
13.51B of the Listing Rules as at the date of this anual report.
Auditor
There was no change in auditor of the Company during the past thre years.
The consolidated financial statements have ben audited by PricewaterhouseCopers
who wil retire and, being eligible, wil ofer themselves for re-apointment at the
Anual General Meting.
On behalf of the Board,
YEUNG CHI HUNG, JOHNY
Chairman & Chief Executive Oficer
Hong Kong, 27 June 2025
Corporate Governance Report
企业管治报告
29年报 2024/2025 富士高实业控股有限公司
Corporate governance practices
The board (the “Board”) of directors (the “Directors”) of the Company is
comited to maintaining high standards of corporate governance and
endeavours in folowing the code provisions (the “Code Provisions”) of the
“Corporate Governance Code” (the “CG Code”) as set out in Apendix C1 to
the Rules (the “Listing Rules”) Governing the Listing of Securities on The Stock
Exchange of Hong Kong Limited (the “Stock Exchange”).
Throughout the year ended 31 March 2025, the Company has complied
with the CG Code save for the deviation from Code Provision C.2.1, which is
explained in the relevant paragraphs below.
The Board of Directors
Responsibilities of the Directors
The Board is responsible for the formulation of corporate strategies, the seting
of apropriate strategic policies, monitoring and controling the operation
and financial performance of the Group, oversight of the compliance with
statutory and regulatory obligation. Al Directors have ful and timely aces to
al the information of the Company and may, upon request, sek independent
profesional advice in apropriate circumstances, at the Company’s expenses
for discharging their duties to the Company. In particular, 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 views and judgment on corporate actions and
operations. The Board anualy reviews the implementation and efectivenes
of mechanisms to ensure independent views and input available to the Board
and the Board is of the view that such independent mechanism is efective.
The management of the Group, as delegated by the Board, is responsible for
execution of busines strategies adopted, implementation of adequate system
and procedures of internal control and risk management, and oversight of the
day-to-day management of the Group’s busines.
To ensure the Board is in a position to exercise its powers in an informed
maner, management provides the Board with monthly management report
which contains year-to-date sumaries of financial performance and key
events of the Group. The monthly management report gives Board members a
balanced and understandable asesment of the Group’s performance, position
and prospects in suficient detail to enable the board members to discharge
their duties.
The corporate governance duties are performed by the Board. Pursuant to the
terms of reference of the Board, the primary duties of the Board in relation
to corporate governance include introducing and proposing relevant principles
concerning corporate governance and reviewing and determining the corporate
governance policy, so as to enhance and to ensure the corporate governance
practices in the Group are in line with the relevant requirements.
Board composition
The Board curently comprises five executive directors and thre independent
non-executive directors. The Directors during the year under review and up to
the date of this anual report were as folows:
企业管治常规
本公司董事（「董事」）会（「董事会」）承诺维持高水准的
企业管治，并致力遵循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」）之守则条文（「守则条
文」）。
于截至2025年3月31日止年度内，本公司一直遵守企业
管治守则，惟守则条文第C.2.1条有所偏离，详情载于
下文有关段落。
董事会
董事职责
董事会负责制订企业策略、订立合适策略性政策、监
察及控制本集团之营运及财务表现，以及监察遵守法
定及法规的责任。所有董事均有权全面及时取阅本公
司所有资料，及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。具体而言，独立非执行董事负责确保本公司维持
高标准的监管报告，并对董事会发挥平衡作用，以便
产生与企业行动及营运有关的有效独立观点及判断。
董事会每年检讨有关机制的实施及成效，以确保董事
会可获得独立观点及意见，董事会认为有关独立机制
有效。
本集团管理层受董事会委派，负责执行获采纳之业务
策略、实施适当的内部监控及风险管理的系统及程序
以及监察本集团业务之日常管理。
为确保董事会能于知情况下行使其权力，管理层为
董事会提供管理月报，内载本集团最新财务状况资料
及重要事项之总结。管理月报为董事会成员提供本集
团的表现、状况及前景的充足资料，让董事会成员作
出公正及可理解的评估以及履行彼等之职责。
企业管治职责由董事会履行。根据董事会之职权范
围，董事会就企业管治之主要职责包括引入及建议相
关企业管治准则以及审查及制定企业管治政策，以加
强并确保本集团企业管治常规符合相关规定。
董事会组成
董事会现时由五名执行董事及三名独立非执行董事组
成。于回顾年内及截至本年报日期之董事如下：
Corporate Governance Report
企业管治报告
30Fujikon Industrial Holdings Limited Anual Report 2024/2025
董事会（续）
执行董事
杨志雄先生（主席兼行政总裁）
源而细先生（联席副主席）
周文仁先生（联席副主席）
源子敬先生
杨少聪先生
独立非执行董事
吴宏斌博士
车伟恒先生
谢勤女士（于2024年6月1日起获委任）
李耀斌先生（于2024年6月1日起辞任）
各董事之简历资料载于本年报「董事及高级管理层履
历」一节。除此节所披露者外，董事会成员之间并无任
何其他关系（不论财务、业务、家族或其他重大╱有关
之关系）。
根据上市规则第3.09D条，谢勤女士已于2024年5月6日
取得上市规则第3.09D条提述的法律意见，并确认其了
解彼作为董事之责任。
董事会成员多元化政策
董事会于2013年8月采纳董事会成员多元化政策（「董事
会成员多元化政策」）并将其刊登于本公司网站。董事
会明白并深信董事会成员多元化对提升本公司表现素
质的裨益。一个真正多元化的董事会应包括并善用董
事于技能、行业经验、教育背景、知识、专门知识、
文化、年龄及性别以及其他素质等方面的差异。该等
差异将成为于厘定董事会成员最佳组合时的考虑因
素。董事的所有委任均以用人唯才为原则，并考虑多
元化。本公司之提名委员会（「提名委员会」）及董事会
将不时检讨董事会成员多元化政策以确保其持续有效。
于2024年4月1日至2024年5月31日止期间，董事会仅由
八名男性成员组成。由于谢勤女士随后于2024年6月
1日获委任为独立非执行董事以替代李耀斌先生。自
2024年6月1日起及于本年报日期，董事会包含八名成
员，包括一名女性董事。董事具备均衡的知识、技能
及经验，包括于电子及音响行业、会计、财务及投资
方面的经验。本公司拥有三名独立非执行董事，彼等
具备不同行业的背景，包括商业管理、法律以及会计
及营销。本公司已采取及将继续采取措施促进本公司
各个层级的性别多元化，包括但不限于董事会及高级
管理层。考虑到本公司的业务模式及特定需求以及女
性董事的人数，本公司认为董事会的组成符合董事会
多元化政策。
The Board of Directors (Continued)
Executive Directors
Mr. Yeung Chi Hung, Johny (Chairman & Chief Executive Oficer)
Mr. Yuen Ye Sai, Simon (Joint Deputy Chairman)
Mr. Chow Man Yan, Michael (Joint Deputy Chairman)
Mr. Yuen Chi King, Wyman
Mr. Yeung Siu Chung, Ben
Independent Non-Executive Directors
Dr. Ng Wang Pun, Denis
Mr. Che Wai Hang, Alen
Ms. Tse Kan (apointed with efect from 1 June 2024)
Mr. Le Yiu Pun (resigned with efect from 1 June 2024)
The brief biographical information of each Director is set out in the “Biographical
details of directors and senior management” section in this anual report. Save
as disclosed therein, there is no other relationship (whether financial, busines,
family or other material/relevant relationships) among the members of the
Board.
In compliance with Rule 3.09D of the Listing Rules, Ms. Tse Kan has obtained
the legal advice refered to in Rule 3.09D of the Listing Rules and has
confirmed that she understod her obligations as a Director on 6 May 2024.
Board diversity policy
The Board adopted a board diversity policy (the “Board Diversity Policy”) in
August 2013 and has posted it on the Company’s website. The Board recognises
and embraces the benefits of having a diverse Board to enhance the quality of
the Company’s performance. A truly diverse Board wil include and make god
use of diferences in the skils, industry experience, educational background,
knowledge, expertise, culture, age and gender and other qualities of Directors.
These diferences wil be taken into acount in determining the optimum
composition of the Board. Al apointments of Directors wil be based on merit
while taking into acount diversity. The nomination comite of the Company
(the “Nomination Comite”) and the Board wil review the Board Diversity
Policy from time to time to ensure its continuous efectivenes.
During the period betwen 1 April 2024 and 31 May 2024, the Board comprised
only eight male members. Ms. Tse Kan was subsequently apointed as an
independent non-executive Director to replace Mr. Le Yiu Pun with efect on
1 June 2024. Since 1 June 2024 and as at the date of this anual report, the
Board comprised eight members, including one female director. The Directors
have a balanced mix of knowledge, skils and experience, including experience
in the electronics and acoustics industry, acounting, finance and investment.
The Company has thre independent non-executive Directors who have
diferent industry backgrounds, including busines administration, law and
acounting and marketing. The Company has taken and wil continue to take
steps to promote gender diversity at al levels of the Company, including but
without limitation at Board and senior management levels. Taking into acount
the Company’s busines model and specific neds as wel as the presence of
a female director, the Company considers that the composition of the Board
satisfies the Board Diversity Policy.
Corporate Governance Report
企业管治报告
31年报 2024/2025 富士高实业控股有限公司
董事会（续）
董事会成员多元化政策（续）
本公司亦将于招聘中高级员工时确保性别多元化，以
便在未来拥有一支女性高级管理人员团队及董事会潜
在继任人选渠道。本公司经参考利益相关方的诉求以
及国际及当地建议最佳实务后，致力维持适当的性别
多元化平衡。于2025年3月31日，员工团队（包括高级
管理层）的男女雇员性别比例约为41.5%及58.5%。因
此，本公司认为其员工团队已达成性别多元化。
主席及行政总裁
本公司主席杨志雄先生，亦为本公司之行政总裁。根
据守则条文第C.2.1条，主席与行政总裁之角色应有区
分，并不应由同一人同时兼任。鉴于杨先生于电子及
音响行业拥有丰富经验，负责本集团整体策略规划及
业务发展，董事会相信，由杨先生同时兼任主席及行
政总裁的安排能为本集团提供强大及贯彻的领导，提
高本公司的决策及执行效率，及有效抓紧商机。然
而，董事会将定期检讨此项安排之成效，并于其认为
合适时考虑将主席及行政总裁之角色分开。
主席及行政总裁之职责如下：
主席负责与董事会协商后厘定本集团之总体策略规划
及业务发展、领导董事会进行企业及策略规划、确保
董事会按照恰当之程序运作及鼓励全体董事对董事会
事务作出积极贡献。有赖董事会成员之支持，主席得
以实行董事会所采纳之主要策略及措施。
行政总裁在执行董事之支持下，负责管理及经营本集
团之日常业务，包括实行董事会所采纳之主要策略及
措施。
The Board of Directors (Continued)
Board diversity policy (Continued)
The Company wil also ensure that there is gender diversity when recruiting
staf at mid to senior levels so that it wil have a pipeline of female senior
management and potential sucesors to the Board going forward. It is the
Company’s objective to maintain an apropriate balance of gender diversity
with reference to the stakeholders’ expectation and international and local
recomended best practices. As at 31 March 2025, the gender ratio in the
workforce (including senior management) was aproximately 41.5% male and
58.5% female. Acordingly, the Company considers that gender diversity is
achieved in its workforce.
Chairman and Chief Executive Oficer
Mr. Yeung Chi Hung, Johny, the Chairman of the Company, is also the Chief
Executive Oficer of the Company. Acording to the Code Provision C.2.1, the
roles of chairman and chief executive oficer should be separate and should
not be performed by the same individual. In view of that Mr. Yeung has
extensive experience in the electronics and acoustics industry and is responsible
for the overal strategic planing and busines development of the Group, the
Board believes that vesting the roles of both chairman and chief executive
oficer in Mr. Yeung provides the Group with strong and consistent leadership
to improve the Company’s eficiency in decision-making and execution, and
efectively capture busines oportunities. However, the Board wil periodicaly
review the efectivenes of this arangement and consider separating the roles
of chairman and chief executive oficer when it thinks apropriate.
The responsibilities of the chairman and the chief executive oficer are as
folows:
The Chairman is responsible to determine the overal strategic planing
and busines development of the Group after consultation with the Board,
provide leadership for the Board on corporate and strategic planing,
ensure proper procedings of the Board and encourage al Directors to have
active contribution to the Board’s afairs. With the suport from the Board’s
members, he manages to implement the major strategies and initiatives
adopted by the Board.
The Chief Executive Oficer, with suport of the executive Directors, is
to manage and operate the Group’s day-to-day busines, including the
implementation of major strategies and initiatives adopted by the Board.
Corporate Governance Report
企业管治报告
32Fujikon Industrial Holdings Limited Anual Report 2024/2025
独立非执行董事
于本年内，独立非执行董事占董事会三分之一，以及
其中至少一名独立非执行董事具备上市规则第3.10条
规定的适当专业资格或会计或相关财务管理专长。
各独立非执行董事均按一年特定年期获委任。本公司
已接获各独立非执行董事根据上市规则第3.13条发出
之年度独立性确认函，并认为所有独立非执行董事均
属独立人士。
重选董事会成员
根据本公司之公司细则（「公司细则」），各董事须轮值
退任。根据公司细则第99条，当时三分之一在任董事
须轮值退任，惟各董事须至少每隔三年在股东周年大
会上轮值退任一次。
根据公司细则，源而细先生、杨少聪先生及吴宏斌博
士将于应届股东周年大会（「股东周年大会」）上轮值退
任，并符合资格且愿意膺选连任。
董事会及委员会之出席情况
董事会每年需处理之固定事宜包括本集团之整体策
略、年度预算、财务报表、股息政策、企业管治职能
及其他主要企业活动。董事会每年就上述目的定期举
行四次会议，大约每季举行一次。每年定期董事会
议均会预先拟定日期，并向全体董事发出至少14日的
通知，使其有机会出席。会议日程及随附之董事会文
件将传递予董事，让董事于会议前有充足时间做好准
备。
于本年度，董事会举行了四次会议，主要审阅及监察
本集团之财务表现；讨论及批准本集团之企业策略；
考虑及批准本集团之年度预算、财务报告及企业管治
相关政策。董事会主席亦曾于没有执行董事列席之情
况下与独立非执行董事会面。
根据企业管治守则，独立非执行董事及其他非执行董
事应出席股东大会。所有董事（包括董事会主席）及本
公司之外部核数师均出席2024年股东周年大会并于会
上回答股东问题。
Independent Non-Executive Directors
Throughout the year, the independent non-executive Directors represent one-
third of the Board and at least one of whom poseses apropriate profesional
qualifications or acounting or related financial management expertise as
required under Rule 3.10 of the Listing Rules.
Each of the independent non-executive Directors is apointed for a specific
term of one year. The Company has received from each of the independent
non-executive Directors an anual confirmation of independence pursuant to
Rule 3.13 of the Listing Rules and considers al the independent non-executive
Directors to be independent.
Re-election of members of the Board
Each of the Directors is subject to retirement by rotation in acordance with
the bye-laws of the Company (the “Bye-Laws”). Acording to Bye-Law 99, one-
third of the Directors for the time being shal retire from ofice by rotation
provided that every Director shal be subject to retirement at an anual
general meting at least once every thre years.
In acordance with the Bye-Laws, Mr. Yuen Ye Sai, Simon, Mr. Yeung Siu
Chung, Ben and Dr. Ng Wang Pun, Denis wil retire by rotation at the
forthcoming Anual General Meting (the “Anual General Meting”) and
being eligible, to ofer themselves for re-election.
Board and comite atendance
Each year, regular maters reserved for the Board include overal strategies of
the Group, anual budgets, financial statements, dividend policy, corporate
governance function and other major corporate activities. For such purposes,
regular Board metings are held four times a year at aproximately quarterly
intervals. Regular Board metings of the year are scheduled in advance
and at least 14 days’ notice are given to al Directors so as to give them an
oportunity to atend. The meting agenda and acompanying board papers
are circulated with suficient time to alow the Directors to prepare before
metings.
During the Year, the Board held four metings mainly to review and monitor
the financial performance of the Group; to discus and aprove the corporate
strategies of the Group; to consider and aprove the anual budgets, the
financial reports and corporate governance related policies of the Group. The
Chairman of the Board also met with the independent non-executive Directors
without the presence of executive Directors.
Acording to the CG Code, independent non-executive Directors and other non-
executive Directors should atend general metings. In the 2024 anual general
meting, al Directors, including the Chairman of the Board, and the external
auditor of the Company atended the meting and answered shareholders’
questions.
Corporate Governance Report
企业管治报告
33年报 2024/2025 富士高实业控股有限公司
董事会及委员会之出席情况（续）
于截至2025年3月31日止年度，各董事出席董事会
议、委员会议及股东周年大会之详情载列于下表：
附注： 李耀斌先生自2024年6月1日起辞任独立非执行董事，而
谢勤女士自2024年6月1日起获委任为独立非执行董事。
董事培训
为帮助董事参与持续专业发展，以发展及更新彼等之
知识及技能，全体董事均参加相关研讨会及课程。有
关培训费用由本公司承担。
于截至2025年3月31日止年度，全体董事曾出席与其董
事专业职责有关之研讨会╱会议╱论坛，或自学了监
管机构、专业机构及公司律师发布之刊物。
全体董事参与持续专业发展，以发展及更新彼等之知
识及技能，并已向本公司提供彼等于截至2025年3月31日
止年度所接受培训之记录。
保险
本公司为董事购买适当保险，为董事所面对法律行动
提供保障。董事会每年检讨保险保障幅度。
Board and comite atendance (Continued)
Details of the atendance of each of the Directors at board metings,
comite metings and anual general meting held during the year ended
31 March 2025 are set out in the table below:
No. of metings atended/held
出席╱举行会议次数
Name of DirectorBoardAudit Comite
Remuneration
Comite
Nomination
Comite
2024 anual
general meting
董事姓名董事会审核委员会薪酬委员会提名委员会
2024年股东
周年大会
Executive Directors执行董事
Yeung Chi Hung, Johny杨志雄4/4–2/22/21/1
Yuen Ye Sai, Simon源而细4/4–1/1
Chow Man Yan, Michael周文仁4/4–1/1
Yuen Chi King, Wyman源子敬4/4–1/1
Yeung Siu Chung, Ben杨少聪4/4–1/1
Independent Non-Executive
Directors
独立非执行董事
Ng Wang Pun, Denis吴宏斌4/43/32/22/21/1
Che Wai Hang, Alen车伟恒4/43/32/22/21/1
Le Yiu Pun李耀斌1/40/30/21/20/1
Tse Kan谢勤3/43/32/21/21/1
Note: Mr. Le Yiu Pun resigned as an independent non-executive Director with efect
from 1 June 2024 and Ms. Tse Kan apointed as an independent non-executive
Director with efect from 1 June 2024.
Directors’ training
To asist the Directors to participate in continuous profesional development
to develop and refresh their knowledge and skils, al Directors had atended
relevant seminars and courses. The costs for such training are borne by the
Company.
Al Directors atended seminars/conferences/forums relevant to his/her
profesional duties as directors or self-study of the publications isued by the
regulators, profesional bodies and corporate lawyers during the Year ended
31 March 2025.
Al Directors have participated in continuous profesional development to
develop and refresh their knowledge and skils and have provided a record of
training they received during the Year ended 31 March 2025 to the Company.
Insurance
The Company has taken out apropriate insurance cover for the Directors in
respect of legal actions taken against the Directors. The Board reviews the
extent of the insurance cover every year.
Corporate Governance Report
企业管治报告
34Fujikon Industrial Holdings Limited Anual Report 2024/2025
董事会委员会
董事会辖下设有三个委员会，即审核委员会、薪酬委
员会及提名委员会。所有董事会委员会均获董事会根
据其各自之职权范围授予权力，有关职权范围已刊载
于本公司网站及联交所网站。
审核委员会
审核委员会由以下全体独立非执行董事组成：
谢勤女士（主席）（于2024年6月1日起获委任）
李耀斌先生（主席）（于2024年6月1日起辞任）
吴宏斌博士
车伟恒先生
董事会已采纳载列委员会权利及职责之书面职权范
围。审核委员会为董事会及本公司核数师提供集团审
核范畴以内事宜的重要桥梁。审核委员会之职责主要
为审阅本公司之财务报告、就委任及罢免独立核数师
以及其薪酬提供推荐建议、批准审计及审计相关服
务、监管本公司内部财务汇报程序及管理政策，和检
讨本公司之风险管理及内部监控系统，以及内部审核
职能。
于本年度，审核委员会曾召开三次会议，并履行以下
职责：
– 审阅本公司之业绩公布、财务报表、中期报告及
年报，以及向董事会提出之推荐意见以待批准；
– 审阅本集团之风险管理政策、风险管理记录册及
内部审计年度计划；
– 检讨风险管理记录册中排序前10项风险之内部监
控及降低风险措施之成效；及
– 审议续聘本公司核数师并向董事会提出推荐
建议。
Board Comites
The Board has thre comites, namely, the Audit Comite, the
Remuneration Comite and the Nomination Comite. Al the Board
comites are empowered by the Board under their own terms of reference
which are published on the Company’s website and the Stock Exchange’s
website.
Audit Comite
The Audit Comite comprises al independent non-executive Directors, as
folows:
Ms. Tse Kan (Chairman) (apointed with efect from 1 June 2024)
Mr. Le Yiu Pun (Chairman) (resigned with efect from 1 June 2024)
Dr. Ng Wang Pun, Denis
Mr. Che Wai Hang, Alen
The Board has adopted writen terms of reference that set forth the authority
and duties of the comite. The Audit Comite provides an important
link betwen the Board and the Company’s auditor in maters coming within
the scope of the group audit. Its duties are mainly to review the Company’s
financial reports, make recomendations on the apointment, removal
and remuneration of independent auditor, aprove audit and audit-related
services, supervise the Company’s internal financial reporting procedures and
management policies, and review the Company’s risk management and internal
control systems as wel as the internal audit function.
During the Year, the Audit Comite held thre metings and performed the
folowing duties:
– reviewed the results anouncements, financial statements, interim and
anual reports of the Company, with a recomendation to the Board for
aproval;
– reviewed the risk management policy, risk register and internal audit
year plan of the Group;
– reviewed the efectivenes of internal controls and risk mitigation
measures of top 10 risks prioritised in the risk register; and
– considered and made recomendation to the Board on the re-
apointment of the auditor of the Company.
Corporate Governance Report
企业管治报告
35年报 2024/2025 富士高实业控股有限公司
董事会委员会（续）
薪酬委员会
薪酬委员会由以下一名执行董事及三名独立非执行
董事组成：
执行董事
杨志雄先生
独立非执行董事
车伟恒先生（主席）
吴宏斌博士
谢勤女士（于2024年6月1日起获委任）
李耀斌先生（于2024年6月1日起辞任）
薪酬委员会的职责已于根据企业管治守则而编制及采
纳之职权范围内清楚界定。
薪酬委员会主要负责检讨及厘定本集团董事及高级管
理层之薪酬政策及组合。执行董事之薪酬组合乃于彼
等与本公司订立之服务协议内订明。该等组合（包括基
本薪金、董事袍金及酌情花红）乃经参考彼等之职责、
责任及经验、当前市场状况及预期彼等就本公司事务
所耗时间及贡献而厘定。独立非执行董事之酬金乃就
估计彼等于本公司事务所耗时间而厘定。
于本年度，薪酬委员会曾召开两次会议，并履行以下
职责：
－ 检讨及厘定应付予执行董事的酌情花红；
－ 审阅及批准本集团执行董事及高级管理层之建议
薪酬组合；及
－ 审阅独立非执行董事之董事袍金并向董事会提出
推荐建议。
Board Comites (Continued)
Remuneration Comite
The Remuneration Comite comprises one executive director and thre
independent non-executive Directors, as folows:
Executive Director
Mr. Yeung Chi Hung, Johny
Independent Non-Executive Directors
Mr. Che Wai Hang, Alen (Chairman)
Dr. Ng Wang Pun, Denis
Ms. Tse Kan (apointed with efect from 1 June 2024)
Mr. Le Yiu Pun (resigned with efect from 1 June 2024)
The duties of the Remuneration Comite are clearly defined in its terms of
reference which have ben prepared and adopted acording to the CG Code.
The Remuneration Comite is primarily responsible for the review and
determination of the remuneration policies and packages for Directors and
senior management of the Group. The remuneration packages of the executive
directors are stipulated in their service agrements with the Company. Such
packages, including basic salaries, director’s fe and discretionary bonus,
are determined by reference to their duties, responsibilities and experience,
prevailing market conditions and their expected time spent and contributions
on the afairs of the Company. The emoluments of the independent non-
executive directors are determined with regard to their estimated time spent
on the afairs of the Company.
During the Year, the Remuneration Comite held two metings and
performed the folowing duties:
– reviewed and determined the discretionary bonus payable to the
executive directors;
– reviewed and aproved the proposed remuneration packages of executive
directors and senior management of the Group; and
– reviewed and made recomendations to the Board on the directors’ fes
of independent non-executive directors.
Corporate Governance Report
企业管治报告
36Fujikon Industrial Holdings Limited Anual Report 2024/2025
董事会委员会（续）
提名委员会
提名委员会由以下一名执行董事及三名独立非执行董
事组成：
执行董事
杨志雄先生（主席）
独立非执行董事
吴宏斌博士
车伟恒先生
谢勤女士（于2024年6月1日起获委任）
李耀斌先生（于2024年6月1日起辞任）
根据职权范围，提名委员会须每年至少一次检讨董事
会架构、人数及组成（包括技能、知识、经验及多元化
观点），并就任何建议变动向董事会提出建议以配合本
公司的企业策略、物色具备合适资格成为董事会成员
的人选及甄选董事候选人或就此向董事会提出推荐、
计及上市规则第3.13条所载之独立性规定评估独立非
执行董事的独立性、就董事委任或重新委任及董事（尤
其是主席及行政总裁）继任计划有关事宜向董事会提出
建议，包括但不限于有关董事会成员多元化的政策及
实施有关政策的可计量目标。
于本年度，提名委员会曾举行两次会议，并进行以下
事宜：
－ 检讨董事会的架构、人数及组成；
－ 审阅及评估独立非执行董事之独立性；
－ 审阅董事会成员多元化政策、其可计量目标及提
名委员会的职权范围，并向董事会作出建议；及
－ 审阅于股东周年大会上供股东重选之董事重选事
宜，并向董事会提出推荐建议。
Board Comites (Continued)
Nomination Comite
The Nomination Comite comprises one executive director and thre
independent non-executive Directors, as folows:
Executive Director
Mr. Yeung Chi Hung, Johny (Chairman)
Independent Non-Executive Directors
Dr. Ng Wang Pun, Denis
Mr. Che Wai Hang, Alen
Ms. Tse Kan (apointed with efect from 1 June 2024)
Mr. Le Yiu Pun (resigned with efect from 1 June 2024)
Acording to the terms of reference, the Nomination Comite is responsible
for reviewing the structure, size and composition (including the skils,
knowledge, experience and diversity of perspectives) of the Board at least
anualy and making recomendations on any proposed changes to the Board
to complement the Company’s corporate strategy; to identify individuals
suitably qualified to become members of the Board and select or make
recomendations to the Board on the selection of individuals nominated for
directorships; to ases the independence of the independent non-executive
Directors taking into acount the independence requirements set out in
Rule 3.13 of the Listing Rules; to make recomendations to the Board on
relevant maters relating to the apointment or re-apointment of directors
and sucesion planing for the Directors, in particular the chairman and the
chief executive oficer, including but not limited to, the policy concerning the
diversity of Board members, and the measurable objectives for implementing
such policy.
During the Year, the Nomination Comite held two metings and conducted
the folowing activities:
– reviewed the structure, size and composition of the Board;
– reviewed and asesed the independence of the independent non-
executive Directors;
– reviewed and made recomendation to the Board on the Board Diversity
Policy, its measurable objective and the terms of reference of Nomination
Comite; and
– reviewed and made recomendations to the Board on the re-election of
Directors for re-election by shareholders at the Anual General Meting.
Corporate Governance Report
企业管治报告
37年报 2024/2025 富士高实业控股有限公司
董事会委员会（续）
提名政策
董事会于2019年1月采纳提名政策并刊载于本公司网
站。提名政策载列甄别及提名适当合资格候选人以供
董事会委任之标准及程序。提名政策中规定之选择标
准包括：
－ 承诺有充足时间及精力投入本公司事务；
－ 诚信声誉；
－ 于相关行业之成就及╱或经验；
－ 有效履行董事会之职责；及
－ 董事会成员多元化政策所载于各方面之多元化。
该等因素仅供参考，并不旨在涵盖所有因素，亦不具
决定性作用。提名委员会可酌情提名任何其认为适当
之人士。
提名程序
就委任董事而言，提名委员会秘书须召集提名委员会
会议。提名委员会将根据提名政策及董事会成员多元
化政策评估候选人，以厘定候选人是否合资格担任董
事职务。有关提名政策及董事会成员多元化政策之进
一步详情，请参阅本报告「董事会成员多元化政策」及
「提名政策」两节。提名委员会向董事会提出推荐建议
以供审议及批准。任何获委任以填补临时空缺之董事
将须于下次股东大会上由股东选举。
就建议董事于股东大会上参选而言，提名委员会应根
据提名政策及董事会成员多元化政策向董事会提出推
荐建议以供审议及批准。
载有建议董事所需资料之通函将根据上市规则于股东
大会前寄发予股东。
董事会对于其推荐候选人在任何股东大会上参选之所
有事宜有最后决定权。
Board Comites (Continued)
Nomination policy
The Board adopted the Nomination Policy in January 2019 and has posted it
on the Company’s website. The Nomination Policy sets out the criteria and
procedures for identifying and nominating suitably qualified candidates for
apointment to the Board. The selection criteria specified in the Nomination
Policy include:
– comitment of available time and ability to devote suficient time and
atention to the afairs of the Company;
– reputation for integrity;
– acomplishment and/or experience in the relevant industry(ies);
– efectivenes in carying out the responsibilities of the Board; and
– diversity in al its aspects as set out in the Board Diversity Policy.
These factors are for reference only, and are not meant to be exhaustive
and decisive. The Nomination Comite has the discretion to nominate any
person, as it considers apropriate.
Nomination procedures
For apointing a Director, the secretary of the Nomination Comite shal
cal a meting of the Nomination Comite. The Nomination Comite
wil evaluate the candidate(s) based on the Nomination Policy and the
Board Diversity Policy to determine whether the candidate(s) is qualified
for directorship. For further details regarding the Nomination Policy and
the Board Diversity Policy, please refer to the “Board Diversity Policy” and
“Nomination Policy” sections in this report. The Nomination Comite
makes recomendations to the Board for consideration and aproval. Any
Directors apointed to fil a casual vacancy would be subject to election by the
shareholders at the next general meting.
For proposing Director(s) to stand for election at a general meting, the
Nomination Comite shal make recomendations to the Board for
consideration and aproval in acordance to the Nomination Policy and the Board
Diversity Policy.
A circular containing the requisite information on the proposed Director(s) wil
be sent to the shareholders prior to the general meting in acordance to the
Listing Rules.
The Board shal have the final decision on al maters relating to its
recomendation of Directors to stand for election at any general meting.
Corporate Governance Report
企业管治报告
38Fujikon Industrial Holdings Limited Anual Report 2024/2025
公司秘书
源子敬先生为本公司的公司秘书（「公司秘书」），同时
亦为本集团执行董事及首席财务总监。公司秘书负责
促进董事会程序，以及董事会成员之间及董事会成员
与本公司股东（「股东」）及管理层之间的沟通。于本年
度，源先生确认其已接受不少于15小时之相关专业培
训。
董事及高级管理层酬金
于回顾年度，本公司高级管理层之酬金载列如下：
有关五名最高薪员工及董事酬金之进一步详情分别载
于综合财务报表附注27及28。
核数师酬金
于本年度，本公司核数师罗兵咸永道会计师事务所
向本公司提供审计及非审计服务，酬金总额约为
2,575,000港元。审计服务之有关费用约为1,765,000港元。
酬金余额为非审计服务之费用，主要包括审阅中期业
绩约为550,000港元；税项服务约为245,000港元；及其
他非审计服务约为15,000港元。
有关内幕消息之披露责任
鉴于证券及期货条例下之披露责任（于2013年1月1日生
效），董事会制定下列涵盖本集团各有关部门之流程及
程序，以符合有关「内幕消息」之披露责任：
(i) 识别、评估及向董事会提交潜在内幕消息之流
程；及
(i) 行政人员之责任，即要对内幕消息保密、向上级
呈报任何有关潜在消息及向相关员工传达有关讯
息及责任。
Company secretary
Mr. Yuen Chi King Wyman is the company secretary of the Company (the
“Company Secretary”) and he is also an executive Director and the Chief
Financial Oficer of the Group. The Company Secretary is responsible for
facilitating the Board meting proces, as wel as comunication among
Board members, with shareholders of the Company (the “Shareholders”) and
management. During the Year, Mr. Yuen has confirmed that he has taken no
les than 15 hours of relevant profesional training.
Directors and senior management’s remuneration
The remuneration of senior management of the Company for the year under
review is set out below:
Number of individuals
Band of remuneration酬金范围人数
HK$2,500,001 – HK$3,000,0002,500,001港元至3,000,000港元1
Further particulars regarding the five highest paid employes and directors’
remuneration are set out in Notes 27 and 28 to the consolidated financial
statements respectively.
Auditor’s remuneration
During the Year, PricewaterhouseCopers, the auditor of the Company,
provided both audit and non-audit services to the Company for a total
remuneration of aproximately HK$2,575,000. The relevant fe paid for
audit services amounted to aproximately HK$1,765,000. The balance of the
remuneration related to the non-audit services which mainly included the
review of interim results, amounting to aproximately HK$550,000; taxation
services, amounting to aproximately HK$245,000; and other non-audit
services, amounting to aproximately HK$15,000.
Disclosure obligations regarding inside information
In light of the disclosure obligations under the SFO with efect from 1 January
2013, the Board has established the folowing proceses and procedures acros
al relevant division(s) and department(s) of the Group for complying with the
disclosure obligations regarding “Inside Information”:
(i) the proceses for identifying, asesing and escalating potential inside
information to the Board; and
(i) the responsibilities of oficers in preserving the confidentiality of inside
information, escalating upwards any such potential information and
cascading down the mesage and responsibilities to relevant staf.
Corporate Governance Report
企业管治报告
39年报 2024/2025 富士高实业控股有限公司
证券交易
本公司已就本集团董事及高级管理层进行证券交易采
纳一套行为守则，其条款不逊于上市规则附录C3所载
的规定准则（「标准守则」）。经向本集团全体董事及高
级管理层作出特定查询后，于截至2025年3月31日止年
度，本集团全体董事及高级管理层已遵守标准守则及
董事及高级管理层进行证券交易的本公司行为守则所
载之规定准则。
董事会亦为相关雇员设立有关彼等进行本公司证券交
易之程序，包括本公司之若干雇员、其附属公司之若
干董事或雇员，该等人士被认为可能拥有与本公司或
其证券有关之内幕消息。
反贪污政策及举报政策
本集团已采取(i)促进及支持反贪污法律法规的政策及
措施；及(i)举报政策及措施，以便雇员、供应商及业
务合伙人可暗中及以不具名方式向审核委员会提出其
对可能关于本集团任何事宜的不当行为的关注。有关
本集团反贪污及举报政策及╱或措施的进一步详情，
请参阅本公司网站刊载的本集团反贪污政策及举报政
策。
风险管理及内部监控
董事会负责监管本公司之风险管理及内部监控系统是
否充足及有效，以识别及管理本集团所面临之风险，
以及确保股东权益及本公司资产得到妥善保障。风险
管理及内部监控系统之设计旨在管理而非消除未能达
成业务目标之风险，并可仅就重大错误陈述或损失作
出合理而非绝对之保证。
鉴于上市规则有关于2016年生效之关于风险管理之守
则条文之规定，本公司已于2016年3月采纳风险管理
政策，随后于2017年及2020年进行修订。诚如审核委
员会职权范围条款所载，董事会已授予审核委员会权
力及责任以监管风险整体管理并向董事会汇报有关结
果。风险管理政策由审核委员会不时审阅。
Securities transactions
The Company has adopted a code of conduct regarding securities transactions
by the Directors and senior management of the Group on terms no les
exacting than the required standard set out in Apendix C3 to the Listing
Rules (“Model Code”). Having made specific enquiry of al Directors and senior
management of the Group, al Directors and senior management of the Group
have complied with the required standard set out in the Model Code and the
Company’s code of conduct regarding securities transactions by Directors and
senior management throughout the year ended 31 March 2025.
The Board has also established procedures for relevant employes, including
certain employes of the Company, certain Directors or employes of its
subsidiaries who are considered to be likely to poses inside information in
relation to the Company or its securities, in respect of their dealings in the
Company’s securities.
Anti-coruption policy and whistleblowing policy
The Group has adopted (i) policies and measures that promote and suport
anti-coruption laws and regulations; and (i) whistleblowing policies and
measures for employes, supliers and busines partners to raise concerns,
in confidence and anonymity, with the Audit Comite about posible
improprieties in relation to any mater related to the Group. For further details
of the Group’s anti-coruption and whistleblowing policies and/or measures,
please refer to the Group’s anti-coruption policy and whistleblowing policies
published on the Company’s website.
Risk management and internal control
The Board is responsible for overseing the adequacy and efectivenes of the
risk management and internal control systems of the Company, to identify and
manage the risks faced by the Group, as wel as to ensure the Shareholders’
interests and the Company’s asets are properly safeguarded. The design of risk
management and internal control systems is to manage, rather than eliminate,
the risk of failing to achieve busines objectives, and can only provide
reasonable but not absolute asurance against material mistatement or los.
In view of the requirement of the Listing Rules in relation to the code
provisions on risk management which tok efect in 2016, the Company
adopted a risk management policy in March 2016, which was subsequently
revised in 2017 and 2020. The Board has delegated the Audit Comite
with authority and responsibility to overse the overal management of risks
and report the results to the Board as set out in the terms of reference of
the Audit Comite. The risk management policy is reviewed by the Audit
Comite from time to time.
Corporate Governance Report
企业管治报告
40Fujikon Industrial Holdings Limited Anual Report 2024/2025
风险管理及内部监控（续）
董事会透过审核委员会及本公司之内部审核团队持续
检讨本公司风险管理及内部监控系统之成效。本公司
根据企业层面进行的风险评估编制风险管理记录册，
并经考虑新兴事项按持续基准对其进行监督。
本集团于本年度检讨内部监控系统及风险管理，包括：
– 风险管理及内部监控系统之范围，涵盖策略、营
运、财务及合规控制；
– 风险管理流程，包括风险评估流程、风险排序，
以及风险管理记录册所排序风险之内部监控及降
低风险措施之设计；
– 年中检讨风险管理记录册中排序前10项风险之内
部监控及降低风险措施之成效；及
– 年度内部审核计划及定期内部审计更新资料。
内部审计组在确保风险管理及内部控制系统有效运作
方面发挥重要作用，其独立审阅本集团政策及工作流
程、监管规定、风险管理及内部监控之遵守情况，并
评估其是否充足及有效。内部审核计划以风险与监控
为基础，涵盖本集团于特定周期及循环周期之主要营
运。年度审核计划由审核委员会审阅及认同。
董事会所进行之检讨工作亦考虑本公司在会计及财务
汇报职能方面之资源、员工资历及经验，以及员工所
接受之培训课程及有关预算是否足够。于本年度并无
发现重大关注事宜。
处理及发布内幕消息之程序及内部监控受标准守则规
管。本公司之相关政策及程序于本企业管治报告内「有
关内幕消息之披露责任」及「证券交易」两节阐述。
鉴于上述审阅及政策，董事会确认本集团之风险管理
及内部监控系统有效且充足。
Risk management and internal control (Continued)
The Board conducts continuous review of the efectivenes of the risk
management and internal control systems through the Audit Comite and
internal audit team of the Company. The Company compiles a risk register
acording to the risk asesment conducted at the enterprise level, monitors it
on an on-going basis by taking into acount emerging isues.
The internal control systems and risk management which were reviewed during
the Year included:
– the scope of the risk management and internal control systems covering
strategic, operational, financial and compliance controls;
– the risk management proces, including risk asesment proces, risk
prioritisation, and the design of internal controls and risk mitigation
measures of the risks prioritised in the risk register;
– mid-year review on the efectivenes of internal controls and risk
mitigation measures of top 10 risks prioritised in the risk register; and
– the anual internal audit plan and the regular internal audit updates.
The internal audit team plays an important role to ensure the risk management
and internal control systems are operating efectively. It independently reviews
compliance of the Group’s policy and workflows, regulatory requirements,
risk management and internal controls and evaluate their adequacy and
efectivenes. The internal audit plan is risk-and-control based that covers the
Group’s significant operations over a cycle and recuring basis. The anual
audit plan is reviewed and endorsed by the Audit Comite.
The Board’s review also considers the adequacy of resources, qualifications
and experience of staf of the Company’s acounting and financial reporting
function, and their training programes and budget. There were no significant
areas of concern identified during the Year.
The procedures and internal controls for handling and diseminating of inside
information are governed by the Model Code. The policy and procedures of
the Company are explained in the sections of “Disclosure obligations regarding
inside information” and “Securities transactions” of this Corporate Governance
Report.
In light of the above reviews and policies, the Board confirms that the Group’s
risk management and internal controls systems are efective and adequate.
Corporate Governance Report
企业管治报告
41年报 2024/2025 富士高实业控股有限公司
董事及核数师对财务报表之责任
董事确认彼等对编制本集团财务报表之责任。
本公司独立核数师之责任载于本年报第81至87页之致
本公司股东之独立核数师报告。
股东权利
1. 请求召开股东特别大会之议事程序
1.1 股东有权按照公司细则及公司法规定及所载
列之形式向本公司申请召开股东特别大会。
1.2 公司细则第62条规定，董事会每当其认为合
适的时候召开股东特别大会，而于递交请
求日期持有不少于本公司实缴股本（附有于
本公司股东大会表决的权利）十分之一的股
东，于任何时候有权透过向董事或秘书发出
书面要求，要求董事会召开特别股东大会，
以处理有关要求中订明的任何事项或决议
案；且该大会应于递交该要求后两(2)个月内
举行。倘要求递交后二十一(21)日内，董事
未有召开该大会，则请求人士可根据公司法
第74(3)条的规定自行召开会议。根据公司法
第74条，于递交请求书当日持有本公司截至
递交日止有权在本公司股东大会上表决之股
份，且该股份占本公司之实缴股本不少于十
分之一的股东（「股东大会请求人」），可递交
书面请求（「股东大会请求书」）到本公司注册
办事处，以请求董事立即妥为安排召开股东
特别大会。
1.3 股东大会请求书须载明会议的议题（包括拟
在会上审议的议案），并须经股东大会请求
人签署；股东大会请求书可由多份格式相似
的文件组成，而每份须经一位或以上的股东
大会请求人签署。
Directors’ and auditor’s responsibilities for financial
statements
The Directors acknowledge their responsibility for the preparation of financial
statements of the Group.
The responsibilities of the independent auditor of the Company are set out
in the Independent Auditor’s Report to the shareholders of the Company on
pages 81 to 87 of this anual report.
Shareholders’ right
1. Procedures for convening special general meting on requisition
1.1 Shareholders have the right to requisition the Company to convene
a special general meting in the maner prescribed by and set out
in the Bye-Laws and the Companies Act.
1.2 Bye-Law 62 provides “The Board may, whenever it thinks fit,
convene a special general meting, and 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 shal at al times have the
right, by writen requisition to the Directors or the Secretary, to
require a special general meting to be caled by the Board for
the transaction of any busines or resolution specified in such
requisition; and such meting shal be held within two (2) months
after the deposit of such requisition. If within twenty-one (21)
days of such deposit the Directors fail to proced to convene such
meting, the requisitionists themselves may do so in acordance
with the provisions of Section 74(3) of the Companies Act.”
Pursuant to section 74 of the Companies Act, Shareholders (“General
Meting Requisitionists”) holding at the date of deposit of the
requisition not les than one-tenth of the paid up capital of the
Company as at the date of the deposit carying the right of voting
at general metings of the Company may requisition the Directors
to forthwith proced duly to convene a special general meting by
depositing a writen requisition (“General Meting Requisition”) at
the registered ofice of the Company.
1.3 The General Meting Requisition must state the purpose of
the meting (including the resolutions to be considered at
the meting), and must be signed by the General Meting
Requisitionists; the General Meting Requisition may consist of
several documents in like form each signed by one or more General
Meting Requisitionists.
Corporate Governance Report
企业管治报告
42Fujikon Industrial Holdings Limited Anual Report 2024/2025
股东权利（续）
- （续）
1.4 股东大会请求书须递交至本公司的注册办事
处，最好亦同时抄送其副本至本公司的总办
事处及主要营业地点，注明收件人为本公司
董事会或公司秘书，地址如下：
本公司注册办事处
Victoria Place, 5th Flor
31 Victoria Stret
Hamilton HM10
Bermuda
董事会╱公司秘书收
本公司总办事处及主要营业地点
香港
新界沙田
沙田乡事会路138号
新城市中央广场
第1座16楼
董事会╱公司秘书收
1.5 倘董事未能于上文第1.2段所载的股东大会
请求书递交日期起21日内应要求召开会议，
则股东大会请求人或代表其所持总表决权过
半数的任何人士可自行召开会议，惟于股东
大会请求书递交日期起三个月届满后，概
不得举行依上述程序请求召开的任何会议。
股东大会请求人按上述程序召开会议时，其
召开方式应尽可能与董事召开会议的方式相
同。
1.6 本公司须向股东大会请求人补偿其因董事会
未应要求召开会议而发生的任何合理费用。
Shareholders’ right (Continued)
1. Procedures for convening special general meting on requisition
(Continued)
1.4 The General Meting Requisition shal be deposited at the
registered ofice and preferably, copied to the head ofice and
principal place of busines of the Company and marked for the
atention of the Board or the company secretary of the Company at
their respective adres below:
Registered ofice of the Company
Victoria Place, 5th Flor
31 Victoria Stret
Hamilton HM10
Bermuda
Atention: Board of Directors/Company Secretary
Head ofice and principal place of busines of the Company
16th Flor, Tower 1
Grand Central Plaza
138 Shatin Rural Comite Road
Shatin, New Teritories
Hong Kong
Atention: Board of Directors/Company Secretary
1.5 If the Directors fails to proced to duly convene such meting
within 21 days from the date of the deposit of General Meting
Requisition as set out in the paragraph 1.2 above, the General
Meting Requisitionists, or any of them representing more than
one half of their total voting rights, may themselves convene a
meting, but any meting so convened shal not be held after
the expiration of thre months from the date of the deposit of
the General Meting Requisition. A meting so convened by the
General Meting Requisitionists shal be convened in the same
maner, as nearly as posible, as that in which metings are to be
convened by the Directors.
1.6 Any reasonable expenses incured by the General Meting
Requisitionists by reason of the failure of the Board to duly convene
a meting shal be repaid to the General Meting Requisitionists by
the Company.
Corporate Governance Report
企业管治报告
43年报 2024/2025 富士高实业控股有限公司
股东权利（续）
2. 提出查询之议事程序
2.1 股东如对其持股数、股份过户、登记及股息
支付有任何疑问，应联络本公司的香港股份
过户登记分处，详情如下：
香港中央证券登记有限公司
地址： 香港湾仔
皇后大道东183号
合和中心17M楼
电话： (852) 2862 8555
传真： (852) 2865 0990
2.2 股东可于任何时间透过本公司以下指定联络
方式、通讯地址、电邮地址及查询热线致询
本公司：
地址： 香港新界
沙田沙田乡事会路138号
新城市中央广场第1座16楼
电邮： ir@fujikon.com
电话： (852) 2605 5008
传真： (852) 2694 1338
2.3 欢迎股东透过本公司网站w.fujikon.com的
网上查询表格作出查询。
2.4 兹提醒股东在垂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。
Shareholders’ right (Continued)
2. Procedures for raising enquiries
2.1 Shareholders should direct their questions 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:
Computershare Hong Kong Investor Services Limited
Adres: 17M Flor, Hopewel Centre
183 Quen’s Road East
Wanchai, Hong Kong
Tel: (852) 2862 8555
Fax: (852) 2865 0990
2.2 Shareholders may at any time raise any enquiry in respect of the
Company at the folowing designated contacts, corespondence
adreses, email adreses and enquiry hotlines of the Company:
Adres: 16th Flor, Tower 1, Grand Central Plaza
138 Shatin Rural Comite Road, Shatin
New Teritories, Hong Kong
Email: ir@fujikon.com
Tel: (852) 2605 5008
Fax: (852) 2694 1338
2.3 Shareholders are encouraged to make enquiries via the
online enquiry form available on the Company’s website
at w.fujikon.com.
2.4 Shareholders are reminded to lodge their questions together with
their detailed contact information for the prompt response from
the Company if it dems apropriate.
Shareholders’ right (Continued)
3. Procedures for puting forward proposals at general meting
3.1 Section 79 of the Companies Act provides that, at the expense
of the Resolution Requisitionists (as defined in paragraph 3.2
below) unles the Company otherwise resolves, it shal be the duty
of the Company on the requisition in writing by the Resolution
Requisitionists:
(a) to give to the Shareholders entitled to receive notice of the
next anual general meting notice of any resolution which
may properly be moved and is intended to be moved at that
meting;
(b) to circulate to the Shareholders entitled to have notice of
any general meting sent to them any statement of not more
than one thousand words with respect to the mater refered
to in any proposed resolution or the busines to be dealt with
at that meting.
3.2 “Resolution Requisitionists” means Shareholders making a
requisition under paragraph 3.1 above and shal constitute either:
(a) any number of Shareholders representing not les than one-
twentieth of the total voting rights of al the Shareholders
having at the date of the requisition a right to vote at the
meting to which the requisition relates; or
(b) not les than one hundred Shareholders.
3.3 Notice of any such intended resolution shal be given, and any
such statement shal be circulated, to Shareholders entitled to
have notice of the meting sent to them by serving a copy of the
resolution or statement on each such Shareholder in any maner
permited for service of notice of the meting, and notice of any
such resolution shal be given to any other Shareholder by giving
notice of the general efect of the resolution in any maner
permited for giving him notice of meting of the Company,
provided that the copy shal be served, or notice of the efect
of the resolution shal be given, as the case may be, in the same
maner and, so far as practicable, at the same time as notice of
the meting and, where it is not practicable for it to be served or
given at that time, it shal be served or given as son as practicable
thereafter.
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44Fujikon Industrial Holdings Limited Anual Report 2024/2025
股东权利（续）
3. 于股东大会上提出议案之程序
3.1 公司法第79条规定，于议案请求人（定义见
下文第3.2段）以书面作出请求及（除非本公
司另有议决）在议案请求人支付费用的情况
下，本公司有责任：
(a) 向有权接收下一届股东周年大会通告
的股东发出通告，以告知可能会在该
会议上恰当地动议并拟在会上动议的
任何议案；
(b) 向有权获发送任何股东大会通告的股
东传阅任何字数不多于一千字的陈述
书，以告知在任何提呈议案内所提述
的事宜，或拟于该会议上处理的事务。
3.2 「议案请求人」指根据上文第3.1段作出请求
书的股东，及应为：
(a) 代表在该请求书提出的日期有权在该
请求书有关的会议上表决的所有股东
总表决权不少于二十分之一的任何人
数的股东；或
(b) 不少于一百名的股东。
3.3 任何此等议案的通知及任何此等陈述书，须
以准许用于送达会议通知的任何方式，将该
议案或陈述书的副本向有权获送交会议通知
的股东发出或传阅；至于向任何其他股东发
出任何此等议案的通知，则须以准许用于向
该等任何其他股东发出本公司会议通知的任
何方式，向其发出具该议案大意的通知；惟
该副本的送达方式或该议案大意通知的发出
方式（视属何情况而定）须与会议通知发出的
方式相同，而送达或发出的时间，亦须在切
实可行范围内与会议通知发出的时间相同，
如当时不能送达或发出，则须于随后在切实
可行范围内尽快送达或发出。
Shareholders’ right (Continued)
3. Procedures for puting forward proposals at general meting
(Continued)
3.4 Section 80 of the Companies Act sets out the conditions to be met
before the Company is bound to give any notice of resolution or to
circulate any statement. Pursuant to section 80 of the Companies
Act, the Company shal not be bound to give notice of any
resolution or to circulate any statement as mentioned in paragraph
3.1 above unles:–
(a) a copy of the requisition signed by the Resolution
Requisitionists, or two or more copies which betwen them
contain the signatures of al the Resolution Requisitionists, is
deposited at the registered ofice of the Company:–
(i) in the case of a requisition requiring notice of a
resolution, not les than six weks before the meting;
and
(i) in the case of any other requisition, not les than one
wek before the meting; and
(b) there is deposited or tendered with the requisition a sum
reasonably suficient to met the Company’s expense in giving
efect to the procedures in paragraph 3.1 above (i.e. the
giving of notice of resolution and/or circulation of statement).
Provided that if, after a copy of the requisition requiring notice of a
resolution has ben deposited at the registered ofice of the Company,
an anual general meting is caled for a date six weks or les after
the copy has ben deposited, the copy though not deposited within the
above-mentioned time shal be demed to have ben properly deposited
for the purposes thereof.
4. Procedures for propose a person for election as a Director
Pursuant to Bye-law 103, if a Shareholder wishes to nominate a person
to stand for election as a Director at any general meting apointed for
such election shal folow the procedures as prescribed in Bye-law 103.
Details of the procedures for nomination of Directors for election are
available on the website of the Company.
The relevant procedures are set out in the document titled “Shareholders’
rights” and “Procedures for shareholders to propose a person for election
as a director” which are available on the websites of the Company.
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企业管治报告
45年报 2024/2025 富士高实业控股有限公司
股东权利（续）
- （续）
3.4 公司法第80条载有本公司于承担发出议案的
任何通知或传阅任何陈述书前须达致的条
件。根据公司法第80条，本公司毋须根据上
文第3.1段所述发出有关任何议案的通知或
传阅任何陈述书，除非：－
(a) 已于下述时间，将一份由议案请求人
签署的请求书（或两份或以上载有全体
议案请求人签字的请求书）递交至本公
司的注册办事处：－
(i) 倘属要求发出议案通知的请求
书，则须于有关会议举行前不少
于六个星期；及
(i) 倘属任何其他请求书，则须于有
关会议举行前不少于一个星期；
及
(b) 已随该请求书递交或付交一笔合理足
够的款项，以供本公司应付为实施上
文第3.1段所述程序而发生的开支（即发
出议案的通知及╱或传阅陈述书）。
但如要求发出议案通知的请求书在递交至本公司
的注册办事处后，有关方面在该请求书递交后六
个星期或较短期间内的某一日召开股东周年大
会，则该请求书虽然并非在上述时间内递交，但
就此而言，亦须视作已恰当地递交。
4. 提名人士参选董事之程序
根据公司细则第103条，股东如有意提名人士于
任何指定选举董事之股东大会上参选董事职务，
彼应遵循公司细则第103条所载之程序。有关提
名参选董事之程序详情于本公司网站刊载。
有关程序载于「股东权利」及「股东提名人士参选
董事之程序」文件内，该等文件可于本公司网站
览阅。
Constitutional documents
There was no change in the Company’s constitutional documents during the
Year.
Relations with Shareholders
The Company continues to enhance comunications and relationships with
its investors. Designated senior management maintains regular dialogue with
institutional investors to kep them abreast of the Company’s developments.
The Company also holds regular metings with institutional shareholders.
To ensure efective comunication with the Shareholders, the Company
has adopted a formal Shareholder comunication policy to ensure that the
Shareholders are provided with ready, equal and timely aces to balanced
and understandable information about the Company (including its financial
performance, strategic goals and plans, material developments, governance
and risk profile), in order to enable the Shareholders to exercise their rights
in an informed maner, and to alow the Shareholders and the investment
comunity to engage actively with the Company.
The Company maintains a corporate website (w.fujikon.com) to kep
its Shareholders and the investing public posted of the Company’s busines
developments and operations, list of Directors and their roles and functions,
constitutional documents, terms of reference of the Board and its comites,
procedures of nomination of directors for election, shareholders’ rights and
comunication policy, corporate governance practices, anouncements,
circulars and reports released to the Stock Exchange and other information are
posted. Information on the Company’s website wil be updated from time to
time.
The Board has examined and reviewed the implementation of the Shareholder
comunication policy during the Year. Taking into acount the variety of
existing chanels for comunication and participation, the Board is of the
view that its Shareholder comunication policy has ben duly and efectively
implemented. The Board wil continuously review its existing chanels of
comunication with Shareholders and investors to ensure that they remain
efective.
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46Fujikon Industrial Holdings Limited Anual Report 2024/2025
宪章文件
于本年度本公司之宪章文件概无任何变动。
与股东之关系
本公司一直致力加强与其投资者之沟通及关系。专门
高级管理人员会定期与机构投资者进行对话，及时向
其介绍本公司之发展。本公司亦定期与机构投资者举
行会议。
为保证与股东沟通顺畅，本公司采纳正式之股东通讯
政策，确保股东均可同等随时及适时地取得全面及容
易理解之本公司资料（包括其财务表现、策略目标及计
划、重大发展、管治及风险概况），一方面使股东可在
知情况下行使其权利，另一方面可让股东及投资人
士积极与本公司互动。
本公司设有企业网站(w.fujikon.com)，确保本公司股
东及公众投资者随时知悉本公司于联交所刊载之业务
发展及营运状况、董事名单与其角色及职能、宪章文
件、董事会及其委员会之职权范围、提名参选董事之
程序、股东权利及通讯政策、企业管治常规、公布、
通函及报告以及其他公布资料。本公司网站资料将会
不时更新。
董事会已审视及检讨本年度股东沟通政策的实施情
况。经考虑丰富的现有沟通及参与渠道，董事会认为
其股东沟通政策已妥善有效实施。董事会将持续检讨
其与股东及投资者的现有沟通渠道以确保其持续有效。
Relations with Shareholders (Continued)
The Company’s anual general meting is one of the important platforms to
comunicate with the Shareholders. The Anual General Meting wil be held
at 16th Flor, Tower I, Grand Central Plaza, 138 Shatin Rural Comite Road,
Shatin, New Teritories, Hong Kong on 22 August 2025. The ful text of the
resolutions and explanatory notes in respect of the meting are contained in
the Notice of Anual General Meting. Al Shareholders are invited to atend
the Anual General Meting and participate in comunicating with the
Company.
Dividend policy
The Board has aproved and adopted the dividend policy in 2019 which is
published on the Company’s website. The dividend policy aims to ensure
a stable return to the Shareholders and to use the Group’s capital more
efectively with this dividend policy. In proposing any dividend payout, the
Board shal take into acount the folowing factors:
(a) the requirements of the Company under aplicable laws and regulations;
(b) the amount of retained profits and distributable reserves of the Company
and its subsidiaries;
(c) any financial covenants and other restrictions bound to the Company;
(d) the financial performance expansion plans, working capital requirements, and
anticipated cash neds of the Company and its subsidiaries;
(e) cash dividends from the subsidiaries to the Company; and
(f) other factors which the Board may dem apropriate.
The form and frequency of dividend declaration and payment shal be at the
sole and absolute discretion of the Board and final dividend shal be subject to
the Shareholders’ aproval at anual general metings of the Company.
Hong Kong, 27 June 2025
Corporate Governance Report
企业管治报告
47年报 2024/2025 富士高实业控股有限公司
与股东之关系（续）
本公司之股东周年大会为本公司与其股东交流之重要
平台之一。股东周年大会将于2025年8月22日于香港新
界沙田沙田乡事会路138号新城市中央广场第1座16楼
举行。有关大会之决议案全文及附注解释载于股东周
年大会通告内。全体股东受邀出席股东周年大会并与
本公司进行交流。
股息政策
董事会于2019年批准并采纳股息政策，该政策已刊登
于本公司网站上。股息政策旨在确保为股东带来稳定
回报，并凭借该股息政策更有效地运用本集团之资
本。于建议作出任何派息时，董事会应考虑以下因素：
(a) 适用法律法规项下本公司之规定；
(b) 本公司及其附属公司之保留溢利及可供分配储备
金额；
(c) 与本公司有关之任何财务契诺及其他限制；
(d) 本公司及其附属公司的财务表现拓展计划、营运
资金需求及预期现金需求；
(e) 附属公司向本公司派发现金股息；及
(f) 董事会可能认为适当之其他因素。
股息宣派及支付之形式及频率须由董事会全权酌情决
定，及末期股息须经股东于本公司股东周年大会上批
准。
香港，2025年6月27日
Environmental, Social and Governance Report
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48Fujikon Industrial Holdings Limited Anual Report 2024/2025
1. Our vision
Fujikon is principaly engaged in the design, manufacturing, marketing
and trading of electro-acoustic products, acesories and other electronic
products. The Group has ben focusing on technology inovation to
solidify its position in the electro-acoustic market, in an efort to become
our customers’ prefered strategic partner in the electro-acoustic and
electronic industries. We also place great emphasis on the sustainable
development of the Group while we strive to expand our busines.
We have comited to reducing impacts on the environment from our
busines operations, safeguarding employe rights and interests.
We incorporate the concept of sustainable development into the Group’s
management policy. The Board has formulated the environmental,
social and governance (“ESG”) strategy, regularly reviewed the key
ESG indicators and asesed relevant risks, so as to ensure the Group
has adopted and maintained efective risk management and internal
control measures at the ESG level. We wil continue to firmly adhere
to the concept of sustainability development. We strive to provide
customers with high value-aded and highly diferentiated products with
advanced and inovative technologies, with an aim to become long-term
partner for the world leading clients and create greater value for the
stakeholders.
2. About this section
The Group is comited to achieving sustainable development by
engaging environmental protection and social development as an
integral part of our busines development. This section presents the
environmental and social performance of the Group. This report is
prepared in acordance with the “Environmental, Social and Governance
Reporting Guide” as set out in Apendix C2 to the Rules Governing
the Listing of Securities on the Main Board of The Stock Exchange
of Hong Kong Limited (the “Stock Exchange”) to conform with the
relevant disclosure requirements for listed companies isued by the Stock
Exchange. This report has ben aproved by the Board for isue.
Unles otherwise stated, this section highlights the environmental and
operation governance performance of Charter Media (Donguan) Co.,
Ltd. under the Group which is located in Donguan, China (hereinafter
refered to as the “Headsets and Headphones Plant”), as wel as the
employment and other social performance of the Hong Kong ofice and
its plants in China. This report covers the period from 1 April 2024 to 31
March 2025.
1. 我们的理念
富士高主要从事设计、制造、推广及销售电声产
品、配件及其他电子产品，持续以创新科技巩固
集团在电声市场的地位，并致力成为电声及电子
领域客户首选的策略性合作伙伴。集团在锐意推
动业务发展的同时，亦关注企业的可持续发展，
竭力减少业务对环境的影响，持续保障雇员权
益。
我们一直把可持续发展理念融入集团的管理方
针。董事会制定了环境、社会及管治（「环境、社
会及管治」）策略，定期审阅环境、社会及管治
的关键性指标，并评估相关风险，以确保集团在
环境、社会及管治层面建立并维持有效的风险应
对管理及内部监控措施。我们会一如以往且坚定
不移地向可持续发展道路前进，以先进和创新科
技，竭力为客户提供高增值、高差异性产品，成
为世界顶级客户的长期合作伙伴，为利益相关方
创造更大价值。
2. 关于本章节
本集团一直以可持续发展为目标，在发展业务的
同时亦顾及环境保护及社会发展。本章节描述集
团在环境及社会两方面的表现。本报告依循香港
联合交易所有限公司（「联交所」）主板上市规则附
录C2所载之「环境、社会及管治报告指引」编写，
以符合联交所对上市公司相关的披露要求。报告
内容已获得董事会批准发出。
除另有说明外，本章节概述了集团位于中国东莞
的中名（东莞）电子有限公司（下称「耳机业务厂
房」）的环境及营运管治表现，以及香港办公室与
国内厂房在雇佣及其他社会相关的表现。报告期
间为2024年4月1日至2025年3月31日。
Environmental, Social and Governance Report
环境、社会及管治报告
49年报 2024/2025 富士高实业控股有限公司
- 、社会及管治架构
为有效地管理环境、社会及管治相关风险，我们
成立了环境、社会及管治委员会，订立整体环
境、社会及管治策略及目标，定期监察关键绩效
指标及遵守法规情况，并最少每年一次向董事会
提供整体的环境、社会及管治工作汇报，由董事
会对环境、社会及管治报告作出批示。环境、社
会及管治委员会下设环境、社会及管治工作小
组，协助环境、社会及管治委员会协调各部门落
实及执行相关环境、社会及管治措施及每月收集
相关键绩效指标数据，并统筹报告编写。
3. Environmental, social and governance structure
In order to efectively manage the ESG-related risks, we have established
the Environmental, Social and Governance Comite (the “ESG
Comite”) which is in charge of formulating the overal ESG strategies
and objectives, regularly monitoring the key performance indicators
and compliance with laws and regulations, and provides reports on the
overal ESG performance to the Board at least once a year for aproval.
An Environmental, Social and Governance Working Group has ben
established under the ESG Comite, which is responsible for asisting
the ESG Comite in cordinating the implementation and execution
of the relevant ESG measures by al departments, colecting relevant key
performance indicator data and carying out the report compilation on a
monthly basis.
4. Reporting Principles
The Group has taken into acount of the folowing reporting principles
in the preparation of this report:
Materiality: In adition to considering the sustainable development goals
of the Group and the “Environmental, Social and Governance Reporting
Guide” under Apendix C2 to the Listing Rules of the Main Board of the
Stock Exchange, the Group regularly comunicated with its stakeholders
to understand their concerns relating to sustainable development isues.
Quantitative: With regard to the quantitative information (e.g. key
performance indicators in respect of environment) reported in this report,
we disclosed the data for the year, which alows stakeholders to compare
our performance over time.
Balance: We aim to kep our report balanced and make fair disclosure on
the progres of the most critical aspects of our performance.
Consistency: The Group prepared and presented the report in acordance
with the “Environmental, Social and Governance Reporting Guide”
under Apendix C2 to the Listing Rules of the Main Board of the Stock
Exchange, so as to make year-on-year comparison with the previous key
performance indicators of the Group.
Board of Directors 董事会
Environmental, Social and Governance Working Group 环境、社会及管治工作小组
Environmental, Social and Governance Comite 环境、社会及管治委员会
4. 汇报原则
我们在制定本报告时考虑了以下的报告原则︰
重要性︰除了考虑集团可持续发展的目标及联
交所主板上市规则附录C2所载之「环境、社会及
管治报告指引」外，集团亦定期与利益相关方沟
通，以了解他们关注的可持续发展议题。
量化︰就本报告内汇报的量化资料，如环境关键
绩效指标，我们披露了本年度的数据，让利益相
关方就我们的表现随时间作出比较。
平衡性︰我们的目标是维持报告平衡，并就集团
表现最关键方面的进度作出公平披露。
一致性︰集团按照联交所主板上市规则附录C2所
载之「环境、社会及管治报告指引」编写汇报，让
集团过去的主要关键指标表现可按年比较。
Environmental, Social and Governance Report
环境、社会及管治报告
50Fujikon Industrial Holdings Limited Anual Report 2024/2025
5. 利益相关方的参与及重要性议题
5.1 利益相关方参与
集团一直十分重视利益相关方的意见。我们
业务中的主要利益相关方包括顾客、员工、
供应商、投资者、政府机构、社区及业界组
织。我们相信与利益相关方的良好沟通，以
此为参考，可协助集团就可持续发展制定长
远目标。
以下为集团主要与各利益相关方之沟通渠
道：
客户雇员
- ╱电子邮件
• 客户参观及工厂审核
• 行业展览会
• 问卷调查
• 职业健康与安全培训
• 告示板
- ╱信箱╱电子
邮件╱企业微讯
• 工作表现评核
• 问卷调查
供应商社区
- ╱电子邮件
• 供应商年度审核
• 问卷调查
• 参与社区活动
- ╱赞助
股东及投资者监管机构
• 全年及中期业绩公布
• 年报及中期报告
• 企业网站
• 政府网站
• 公文
• 检查及评估
5. Stakeholder engagement and material isues
5.1 Stakeholder engagement
The Group always ataches great importance to the opinions of
the stakeholders. The key stakeholders in our busines include
customers, employes, supliers, investors, government authorities,
comunities and industry asociations. We believe that god
comunication with the stakeholders provides meaningful
reference which is helpful for the Group in formulating its long-
term goals to promote sustainable development.
The folowing are the main comunication chanels betwen the
Group and various stakeholders:
CustomersEmployes
- /emails
• Customer visits and factory
audits
• Trade exhibitions
• Questionaire survey
• Training for ocupational
health and safety
• Notice boards
- /
mail boxes/emails/Enterprise
• Job performance asesment
• Questionaire survey
SupliersComunity
- /emails
• Anual audits for supliers
• Questionaire survey
• Participation in comunity
activities
- /sponsorship
Shareholders and investorsRegulatory agencies
• Anual results and interim
results anouncements
• Anual reports and interim
reports
• Corporate website
• Government websites
• Oficial documents
• Inspections and asesments
Environmental, Social and Governance Report
环境、社会及管治报告
51年报 2024/2025 富士高实业控股有限公司
- （续）
5.2 重要性分析
为确保本报告涵盖本集团主要业务环境、社
会及管治方面的重要性议题，并适当地回应
利益相关方的关注事项，我们主要透过问卷
向顾客、员工及供应商收集意见，以了解利
益相关方对集团耳机业务的意见，有助董事
会评估对环境、社会及管治方面不同议题的
重要性及投放资源的优先次序。利益相关方
的意见可以协助我们分辨并优先考虑较重要
的环境、社会及管治方面的相关议题，以辨
识集团主要业务中的风险，并制定相关政策
及措施以应对挑战。
下表总结了是次沟通活动所得的环境、社会
及管治重要性议题：
5. Stakeholder engagement and material isues (Continued)
5.2 Materiality analysis
To ensure that this report covers material ESG isues in the Group’s
core busines and presents apropriate response to concerns of the
stakeholders, we gather the views of stakeholders of our headsets
and headphones busines mainly through conducting questionaires
to colect fedbacks from our customers, employes and supliers,
which helps the Board to ases the importance of diferent ESG-
related isues and the priority of resource alocation. The opinions
of the stakeholders wil help us to identify and prioritise the
relative material ESG-related isues, which wil enable us to identify
the risks asociated with our main busineses and to develop
policies and measures to cope with the chalenges.
The table below sumarises the material ESG isues identified
through the above comunication activity:
Employment and labour practicesOperation practices
雇佣及劳工常规 营运惯例
－ Labour standard – prohibition of child labour or
forced labour
劳工准则─防止童工或强制劳工
－ Safety and health
安全与健康
－ Employment relationship
雇佣关系
－ Employe training and development
员工培训及发展
－ Anti-coruption
反贪腐
－ Intelectual property rights
知识产权
－ Product quality verification and recal mechanism
产品质量检定及回收机制
－ Product inquiry mechanism, post-sale services and
fedback mechanism
产品查询的机制、售后服务及意见反映机制
－ Customer privacy
客户私隐
－ Suply chain management
供应链管理
EnvironmentComunity
环境 社区
－ Environmental protection regulations
环境保护法规
－ Use of resources
资源使用
－ Environment and natural resources
环境及天然资源
－ Climate change
气候变化
－ Comunity investment
社区投入
Environmental, Social and Governance Report
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52Fujikon Industrial Holdings Limited Anual Report 2024/2025
- （续）
5.2 重要性分析（续）
问卷要求受访的利益相关方就环境及社会议
题由1（最不重要）至5（最重要）评级。一如以
往，本年问卷结果反映了集团的利益相关方
对雇用员工、环境保护及营运管治三方面都
相当关注。
5. Stakeholder engagement and material isues (Continued)
5.2 Materiality analysis (Continued)
The questionaires require the interviewed stakeholders to
prioritise the environmental and social isues with a rating of 1 (least
important) to 5 (most important). As always, the results of the
questionaires for the year reflect that the Group’s stakeholders
are very concerned about thre aspects (i.e. employment,
environmental protection and operation governance).
1.0
0.0
2.0
3.0
4.0
5.0
社区投资
Comunity Investment
遵守环境保护法规
Compliance with
Environmental
Protection Regulations
资源使用
Use of Resources
环境及天然资源
Environment and
Natural Resources
气候变化
Climate Change
雇佣关系
Employment Relationship
健康与安全
Health and Safety
发展及培训
Development and Training
劳工准则
Labour Standards
供应链管理
Suply Chain Management
产品责任
Product Responsibility
反贪污
Anti-coruption
Environmental, Social and Governance Report
环境、社会及管治报告
53年报 2024/2025 富士高实业控股有限公司
6. 保护环境
6.1 环境管理体系
为实现可持续发展，我们致力参与减排环保
工作。在业务中，我们致力降低日常营运对
环境的伤害和风险，并在耳机业务的生产环
节中落实节能减排，同时提高员工及客户对
环境保护及节约资源、能源的重视。我们建
立多年的环境管理体系，一如以往，继续以
符合国家环境法规、达致持续减排为目标。
6. Environmental protection
6.1 Environmental management system
We are dedicated in promoting emision reduction and
environmental protection in order to achieve sustainable
development. In conducting our busines, we strive to mitigate
the damages and risks to the environment caused by day-
to-day operations, and implement energy conservation and
emision reduction in the production proces of the headsets and
headphones busines, while eforts have ben made to enhance
the awarenes of employes and clients regarding environmental
protection as wel as resource and energy conservation. As always,
our established environmental management system continued to
ensure compliance with the national environmental protection
regulations and our continuous suces in emision reduction.
Environmental, Social and Governance Report
环境、社会及管治报告
54Fujikon Industrial Holdings Limited Anual Report 2024/2025
6. Environmental protection (Continued)
6.2 Climate change
The Headsets and Headphones Plant has refered to the framework
of the Task Force on Climate-related Financial Disclosures (“TCFD”)
to determine the climate-related measures, and identified the
climate-related risks acording to the “Management Procedures
for Risks and Oportunities” under the internal management
policy. Folowing the end of the pandemic, and in light of curent
climate change and ocurence of flod and other extreme weather
conditions, we revised the “Operation Guideline for Emergency
Plan” by making adjustments to its contents to re-define the
competent department for natural disasters, enabling us to be more
responsive to changes in natural disasters.
In order to adres the chalenges brought by climate change,
the Headsets and Headphones Plant has continued to maintain
the ISO14001: 2015 Environmental Management System and the
QC080000: 2017 Hazardous Substances Proces Management System
certifications by implementing the relevant measures, so as to
minimise the underlying impacts of its day-to-day operation on the
environment. As part of our strategy to adres climate change, we
are comited to minimising energy consumption in our day-to-day
operation for the reduction of grenhouse gas emisions through
a variety of energy and resources saving plans. For the purpose of
reducing carbon emisions, close coperation is also kept with our
supliers and clients in terms of beter design of environmental-
friendly products and enhancement of production eficiency. In
adition, we kep a close watch on international and local laws
and regulations relating to climate change, and has engaged
an independent environmental inspection company to examine
the waste gas and waste water discharged by the Headsets and
Headphones Plant on a regular basis.
- （续）
6.2 气候变化
耳机业务厂房已参考「气候相关财务揭
露」（Task Force on Climate-related Financial
Disclosures「TCFD」）的框架以识别与气候相
关的举措，透过内部管理《风险和机遇管理
程序》识别与气候相关的风险，随著疫情结
束，结合目前的气候变化，水灾等极端天
气的发生，我们修正了《应急计划作业指导
书》，对内容进行调整，重新拟定自然灾害
的主责部门，以更好地应对自然灾害的变
化。
为了应对气候变化的挑战，耳机业务厂房
持续保持了ISO14001：2015环境管理体系与
QC080000：2017有害物质过程管理系统要求
的认证及实施，以最大限度地减少日常运营
对环境造成的潜在影响。作为气候变化战略
的一部分，我们致力于通过各种节能和资源
节约计划，最大限度地减少日常运营中的能
源消耗，从而减少温室气体排放。我们亦一
直与供应商及客户紧密合作，透过加强环保
产品设计、提高生产效率，减少碳排放。另
外，我们会持续关注国际和地方气候变化法
律法规，并聘用独立环境检测公司，定期监
察耳机业务厂房的废气及污水排效状况。
Environmental, Social and Governance Report
环境、社会及管治报告
55年报 2024/2025 富士高实业控股有限公司
6. Environmental protection (Continued)
6.3 Emisions and wastes
The Group is primarily engaged in the production of headsets and
headphones. In compliance with the environmental protection
laws and regulations in China, and folowing the principle of up-
to-standard emision and mitigating impacts of polutants on
the environment and the surounding areas, we are dedicated
to reducing discharge of polutants and wastes generated from
busines operations by the means of gren purchasing and
cleaner production. In compliance with the requirements of the
ISO14001, the Headsets and Headphones Plant has established a
comprehensive management system, formulated guidelines on
reducing al kinds of emisions and actively introduced emision
abatement technology and equipment. The Headsets and
Headphones Plant has received the Receipt on the Registration of
Polution Discharge for Fixed Polution Sources isued by Donguan
Environmental Protection Bureau (东莞市生态环境局). In adition, we
also engaged an independent environmental inspection company to
examine the waste gas and waste water discharged by the Headsets
and Headphones Plant, with the result showing that the emisions
satisfied the national and local emision standards.
Waste gas
The waste gas emisions from the production proces of the
headsets and headphones busines mainly include volatile organic
compounds (“VOCs”) from painting and pad printing operation, tin
and its compounds from the soldering proces of the asembling
operation, non-methane hydrocarbons and particles from the
molding and asembling proces and exhaust gas of power
generators.
To further reduce emision, the Headsets and Headphones Plant
instaled organic waste gas treatment equipment which can purify
the waste gas produced from painting, pad printing, molding
and asembling proces through UV photolysis and active carbon
adsorption device, and these equipment have ben put into ful
operation. In adition, renovation was also caried out on the
waste gas pipeline of the workshops, efectively controling the
concentration of waste gas emision that contains tin and its
compounds.
The concentrations of tin and its compounds emited from the
soldering proces of the surface mount technology machines (“SMT
machines”) remained the same with that of the previous year.
No detection of benzene, toluene and xylene from the painting,
pad printing proces was found during the testing this year, which
was mainly atributable to the level staying below the standard
detection limit and the continuously decreasing of environmentaly
hazardous substances as a result of the continuous use of eco-
friendly paint.
- （续）
6.3 排放及废弃物
耳机生产为集团之主要业务。我们致力遵守
中国环境保护的法律法规，以达标排放、减
低污染物对环境以及周边的影响为原则，通
过绿色采购和清洁生产，减低营运过程产生
的污染物及废弃物排放量。按ISO14001的要
求，耳机业务厂房已建立了全面的管理体
系，制定各项减少排放的指引，并积极引进
减排技术及设备。耳机业务厂房持有由东莞
市生态环境局发放的固定污染源排污登记回
执。另外，我们亦聘请了独立环境检测公司
检测耳机业务厂房的废气及污水排放，检测
结果均符合国家及地方的排放标准。
废气
耳机业务生产过程中所排放的废气主要包括
喷油与移印作业产生的挥发性有机物（「挥发
性有机物」）、装配作业的焊锡工序产生的锡
及其化合物、注塑成型及装配工序产生的非
甲烷总烃、颗粒，以及发电机尾气。
为进一步减排，耳机业务厂房已增设了有机
废气过滤设施，利用UV光解及活性炭吸附
装置，净化于喷油、移印、注塑及装配工序
释出的废气，并全面投入使用。同时，车间
的废气排放管道也进行了改造，有效控制了
锡及其化合物废气排放浓度。
由贴片机（「贴片机」）焊锡工序排放的锡及其
化合物浓度比上年度持平。
喷油、移印工序的苯、甲苯、二甲苯在本年
度时检测时未检出，主要是因为它的限值在
标准检测值以下，及环保油漆的持续使用，
致使环境有害物质含量持续减少。
| 2025 |
|---|
| 0.001 |
| 28 |
| 84 |
| 98 |
| ND2 |
| ND2 |
| ND2 |
| 11.7763 |
| 1.57 |
| 0.182 |
Environmental, Social and Governance Report
环境、社会及管治报告
56Fujikon Industrial Holdings Limited Anual Report 2024/2025
6. Environmental protection (Continued)
6.3 Emisions and wastes (Continued)
Waste gas (Continued)
Particles, sulfur dioxide, nitrogen oxide and other waste gas
emisions are mainly produced from exhaust gas of power
generators, which are colected and subject to water sprinkling
proces treatment for emision at a high altitude, with the
monitoring result showing that the emisions were stil far lower
than the national and local emision standard limits.
The volume of non-methane hydrocarbons generated from the
asembling and molding proces decreased by 21% from that of
the previous year, which was mainly atributable to the continuous
introduction of al-electric molding machines and the continuous
gren production.
- （续）
6.3 排放及废弃物（续）
废气（续）
颗粒物、二氧化硫、氮氧化物等废气排放物
主要为发电机尾气产生，发电机尾气排放物
收集后经水喷淋工艺处理后高空排放，监测
结果仍远低于国家及地方排放的标准限值。
装配及注塑工序产生非甲烷总烃较上年度下
降了21%，主要是纯电注塑机的持续投入，
绿色生产的持续运行。
Emision sourceWaste gas emisions2024Unit
排放来源废气排放物单位
Soldering proces of SMT machinesTin and its compounds
0.001mg/m
贴片机焊锡工序锡及其化合物
毫克╱立方米
Exhaust gas of power generatorsParticles26mg/m
发电机尾气颗粒物毫克╱立方米
Sulfur dioxide94mg/m
二氧化硫毫克╱立方米
Nitrogen oxide113mg/m
氮氧化物毫克╱立方米
Painting, pad printing procesBenzeneND
mg/m
喷油、移印工序苯毫克╱立方米
Toluene0.004mg/m
甲苯毫克╱立方米
Xylene0.004mg/m
二甲苯毫克╱立方米
Total VOCs0.38mg/m
总挥发性有机物毫克╱立方米
Asembling and molding procesNon-methane hydrocarbons1.995mg/m
装配及注塑工序非甲烷总烃毫克╱立方米
Asembling procesParticles0.206mg/m
装配工序颗粒物毫克╱立方米
备注
检测数据是来自主要排放源头「电子装配车
间」的贴片机
备注
ND表示低于0.001毫克╱立方米
备注
「废气排放」的测量结果属抽样结果。其结果
会因应抽样时机、生产计划等因素而波动。
总体控制在工厂在地法规相关排放标准范围
内。
Note
Testing data was derived from the SMT machines of the “electronic
asembly workshop” which are the major emision source
Note
ND means such emisions were below 0.001mg/m
Note
The measure results of “waste gas emision” represents sample testing
results, which wil change due to random sample testing timing,
production plans and other factors. The overal emision level shal
be controled within the relevant emision standards as stipulated by
local regulations of the places where our plants are located.
| 2025 |
|---|
| 61.75 |
| 0.036 |
Environmental, Social and Governance Report
环境、社会及管治报告
57年报 2024/2025 富士高实业控股有限公司
6. Environmental protection (Continued)
6.3 Emisions and wastes (Continued)
Waste water
The industrial waste water generated by the Headsets and
Headphones Plant is mainly discharged from painting operation. In
order to reduce industrial waste water discharge from the source,
the Headsets and Headphones Plant has introduced a circulating
water treatment system to improve the waste water filtration
proces. In adition, we have introduced relevant procedures and
coresponding facilities to ensure that industrial waste water is
separately colected and pretreated by a dedicated sedimentation
basin before transfering it to the institutions recognised by the
environmental protection authority for recycling and treatment.
Moreover, we conduct regular examinations on the industrial waste
water from the Headsets and Headphones Plant and domestic waste
water from the dormitory buildings to ensure al water quality
indicators met the national and local emision standards.
In response to the energy conservation and emision reduction
policies implemented by the government, the Company caried out
upgrading on the industrial waste water recycling system. However,
due to the increase in production output and the rising technical
complexity of the proceses this year, the discharge of industrial
waste water this year increased by 29% from that of the previous
year. We continue to prioritise the implementation of energy
conservation and emision reduction, and enhance waste water
treatment in strict compliance with the ISO14001 standard and
requirements of the local government, so as to met the relevant
standards.
- （续）
6.3 排放及废弃物（续）
污水
耳机业务厂房产生的工业污水主要来自喷油
作业。为了从源头减低工业污水产生，耳机
业务厂房已引入循环水系统，改善污水过滤
程式。同时，我们已制定相关程序与相应设
施，确保工业污水单独收集，由专门的沉淀
池进行预处理，最后交由环保部门认可的
机构回收处理。另外，我们定期检验耳机业
务厂房排出的工业污水及宿舍排出的生活污
水，以确保各项水质指标符合国家及地方的
排放标准。
响应政府节能减排的政策，公司对工业废水
循环系统进行了升级，但由于本年度的产量
增加及工艺的技术难度增加，导致本年工业
污水排放量较上年度增加了29%。我们会继
续将节能减排列为主要的跟进项目，严格按
照ISO14001标准和当地政府的要求，不断加
强废水处理，以达到相关要求。
Industrial waste water2024Unit
工业污水单位
Generation of industrial waste water
48Ton
工业污水产生
吨
Intensity
密度
Generation or discharge of industrial
waste water/thousand units produced0.030Ton/thousand units produced
工业污水产生或排放量╱每千生产件数吨╱每千生产件数
备注
工业污水指喷油作业产生的污水Note
Industrial waste water represents waste water from painting operation
| 2025 |
|---|
| 151.2 |
| 5,952.49 |
| 6,103.68 |
| 3.57 |
Environmental, Social and Governance Report
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58Fujikon Industrial Holdings Limited Anual Report 2024/2025
6. Environmental protection (Continued)
6.3 Emisions and wastes (Continued)
Grenhouse gas
We have ben taking proactive measures to efectively reduce
grenhouse gas (“GHG”) emisions and the total GHG emisions of
the year decreased by 13% from that of the previous year. Despite
the technology advancement and higher standard of customer
requirement, our products have sen an increasingly complicated
production proces, coupled with increase in product output, the
overal carbon dioxide (“CO2”) emision intensity decreased by 9%
as a result of gren production, investing in sustainable materials
and usage of environment-friendly gren electricity. Nevertheles,
we wil continue to make improvement to aleviate impacts on the
environment. During the previous financial year and this financial
year, the Company introduced the new energy vehicles, mitigating
the impact on the environment from the petroleum consumption
and vehicles exhaust gas emision.
In the end of 2024, folowing the completion of the Company’s
solar projects, the Company introduced the usage of gren
production, leading to the reduction of total CO2 emisions. The
Company wil spare continuous eforts to mitigate the impact on
the environment.
- （续）
6.3 排放及废弃物（续）
温室气体
我们一直积极采取有效措施减少温室气体
（「温室气体」）的排放，年度温室气体的排放
总量较上年度减少13%。尽管产品生产工序
复杂性随著技术及客人要求不断提高、生产
产量的增加，由于绿色生产、环保物料的投
入、环保绿电的使用使整体二氧化碳（「二氧
化碳」）排放密度反而有减少9%，我们仍会
持续改善以减少对环境的影响。于上财年与
本财年，公司持续导入新能源车，减少汽油
的使用及汽车尾气带的来的环境影响。
2024年底，公司太阳能项目的完成，导入了
绿色进行生产使用，降低了公司整体二氧化
碳的产生，公司会在降低环境影响上持续作
出努力。
Grenhouse gas2024Unit
温室气体单位
Direct GHG emisions (Scope 1)
285.15tCO2e
温室气体直接排放（范畴1）
吨二氧化碳排放当量
Indirect GHG emisions (Scope 2)
6,762.28tCO2e
温室气体间接排放（范畴2）
吨二氧化碳排放当量
Total GHG emisions7,047.43tCO2e
温室气体排放总计吨二氧化碳排放当量
Intensity
密度
Emision of CO2/thousand units produced3.91Ton/thousand units produced
二氧化碳排放量╱每千生产件数吨╱每千生产件数
备注
直接温室气体排放源包括商务车的汽油及柴
油的使用、食堂液化气的使用，以及空调的
制冷剂。
备注
间接温室气体排放源为外购电力。
Note
Direct GHG emisions are atributable to petroleum and diesel
consumed by comercial vehicles, liquified gas consumed by cantens
and refrigerants for air-conditioning systems.
Note
Indirect GHG emisions are atributable to electricity bought from
external parties.
Environmental, Social and Governance Report
环境、社会及管治报告
59年报 2024/2025 富士高实业控股有限公司
Solar Energy Project on Factory
厂房太阳能项目
- （续）
6.3 排放及废弃物（续）
废弃物
我们已制定有关处理废弃物的程序。有害废
料方面，我们根据「危险废物转移联单管理
办法」安全转移废油漆渣、废机油等有害物
质，并交由环保部门批准的回收商处理。对
于无害废料方面，我们持续将可回收废料及
不可回收废料分类存放，当中大部份无害废
料进行回收并循环使用，减低对环境造成负
面影响。
本财年经营活动产生的危险废物总量（包括
废弃电气和电子产品、废弃化学品和气瓶）
为7.6吨，上财年为11.49吨。由于对危险废
物的加严控制、产品环保设计及绿色物料的
使用，本财年的危险废物总量下降了34%。
2024年度部分车间进行了升级，无害废料较
上年度增加了34%。耳机业务厂房已按照公
司制定的程式，恰当处理有害及无害废弃
物。为了更好的监控有害及无害废弃物，
2022年度公司安装了固体废物线上监控系
统，与政府的系统进行无缝接轨并持续运行
监管。下表列出耳机业务厂房的各项主要工
业废弃物的排放量：
6. Environmental protection (Continued)
6.3 Emisions and wastes (Continued)
Wastes
We have waste treatment procedures in place. In terms of
hazardous wastes, we safely transfer the hazardous substances
like waste paint residue and used oil in acordance with the
“Management Regulation on Hazardous Wastes Manifests”, and
hand them over to the colection service providers aproved by the
environmental protection authority for recycling and treatment.
For non-hazardous wastes, recyclable and non-recyclable wastes
are sorted out and stored separately as before. Most of the non-
hazardous wastes are to be recycled, so as to reduce negative
impacts on the environment.
Total volume of hazardous wastes (including used electrical and
electronic products, chemical wastes and used gas cylinders)
produced from operating activities during the financial year was
7.6 tons, while that of last financial year was 11.49 tons. The
overal volume of hazardous wastes decreased by 34% during the
financial year as a result of tighter control of hazardous wastes,
environmentaly-friendly design and gren materials used. We
conducted workshop upgrading in 2024, the volume of non-
hazardous wastes recorded an increase of 34% for the year as
compared with the previous year. The Headsets and Headphones
Plant has implemented proper treatment of the hazardous and non-
hazardous wastes acording to the procedures set by the Company.
To kep a closer eye on hazardous and non-hazardous wastes, the
Company instaled an online monitoring system for solid wastes in
2022 to enable seamles conection to the government systems and
maintain operational monitoring. The major discharge of industrial
wastes by the Headsets and Headphones Plant are shown below:
| 2025 |
|---|
| 7.6 |
| 508.08 |
| 0.0044 |
| 0.297 |
Environmental, Social and Governance Report
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60Fujikon Industrial Holdings Limited Anual Report 2024/2025
- （续）
6.3 排放及废弃物（续）
废弃物（续）
Wastes2024Unit
废弃物单位
Hazardous wastes
11.49Ton
有害废料
吨
Non-hazardous wastes
378.26Ton
无害废料
吨
Intensity
密度
Hazardous wastes discharged/thousand
units produced0.0071Ton/thousand units produced
有害废料排放量╱每千生产件数吨╱每千生产件数
Non-hazardous wastes discharged/
thousand units produced0.233Ton/thousand units produced
无害废料排放量╱每千生产件数吨╱每千生产件数
备注
有害废料包括废油桶、油抹布手套、废灯
管、废油墨渣、废油漆渣、废机油等。
备注
包括废纸皮、废胶头（塑胶）以及其他无害废
料等。
Online monitoring system for solid wastes
固体废物线上监控系统
6. Environmental protection (Continued)
6.3 Emisions and wastes (Continued)
Wastes (Continued)
Note
Hazardous wastes include used oil barels, oil wiping gloves, waste
light tubes, used ink slag, waste paint residue and used oil, etc.
Note
Non-hazardous wastes include used cardboard boxes, used plastic tips
(plastics) and other non-hazardous wastes, etc.
| 2025 |
|---|
| 9,442,394 |
| 450 |
| 1,525 |
| 104,878 |
| 5,524 |
| 61.36 |
Environmental, Social and Governance Report
环境、社会及管治报告
61年报 2024/2025 富士高实业控股有限公司
- （续）
6.4 节能
集团积极配合国家环保政策。耳机业务厂房
亦落实一系列的节能措施以减少能源的使
用，包括节约空调及照明灯的使用、减低生
产机器待机以及采用高效能的生产机器等。
近年，耳机业务厂房已在部分宿舍屋顶安装
了太阳能板，生产车间及部分公共区域亦更
换了人体感应开关以减少无用照明时间，降
低用电量。未来，我们会继续应用节能技术
以减少能源消耗。
过去一年，产量较上财年有小幅度增加，但
因太阳能工程的投入使用，能源的节约使
用，本财年用电及用水量均有减少。用电及
用水密度均降低了16%。未来，我们会继续
提倡环保节能，以降低并减少对环境的不利
影响，促进企业的可持续发展。
Use of resources2024Unit
资源使用单位
Use of energy
能源使用
Electricity10,726,960kWh
用电量千瓦时
Diesel740Litre
用柴油量升
Liquified petroleum gas1,435Kilogram
液化石油气量公斤
Water consumption
用水
Water119,317m
用水量立方米
Intensity
密度
Electricity consumption/thousand units
produced6,602kWh/thousand units produced
用电量使用量╱每千生产件数千瓦时╱每千生产件数
Water consumption/thousand units
produced73.43m
/thousand units produced
用水量用量╱每千生产件数立方米╱每千生产件数
耳机业务厂房的用水量取自当地，并无出现
任何水资源的问题。
6. Environmental protection (Continued)
6.4 Energy Conservation
The Group proactively works in line with national environmental
policies. We also have taken a series of measures in the Headsets
and Headphones Plant to reduce energy consumption, including
using air-conditioners and lightings as les often as posible,
reducing the idle time of production machines and adopting high-
eficiency production machinery, etc. In recent years, solar panels
were instaled on the rofs of certain dormitories by the Headsets
and Headphones Plant, and production workshops and certain
part of the public area were also re-equiped with motion sensor
switches to reduce the lighting time wasted and in turn electricity
consumption. In the future, we wil continue to aply energy saving
technologies to reduce energy consumption.
During the past year, we recorded a slight increase in production
output as compared with that of the previous financial year, while
the electricity consumption and water consumption both recorded
decrease during the financial year due to the usage of solar
enginering and energy conservation. The intensity of electricity
and water consumption decreased by 16% respectively. In future,
we wil continue to promote environmental protection and energy
conservation, so as to mitigate and reduce negative impacts on
the environment and facilitate the sustainable development of the
Group.
Water used by the Headsets and Headphones Plant is sourced
localy and there is no water sourcing isue.
Environmental, Social and Governance Report
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62Fujikon Industrial Holdings Limited Anual Report 2024/2025
- （续）
6.5 珍爱环境及资源
我们多年来积极提升生产过程的环保效益，
并取得显著成果。在生产过程使用的消耗性
材料，我们会进行分类，并尽可能投入到回
收管道及二次利用，以降低社会资源消耗。
而耳机业务主要是生产及销售客户品牌产
品，其包装设计及物料选用由客户指定，因
此有关包装物料的用量披露不适用为本集团
的关键效益指标。
7. 雇佣
我们深信员工是集团的重要资产，建立多元平等
的工作环境有助提升员工的表现，改善公司与员
工之间的关系，让企业达至可持续发展。同时在
聘用、薪酬福利、工作时数、休息时间、解雇、
平等机会、多元化、反歧视及骚扰等范畴，都遵
守有关法例及规则，包括：《雇佣条例》、《劳动
法》等，公司更获得了相关机构的肯定，例如：
由香港强制性公积金计划管理局颁发的「积金好
雇主」；以及由劳工处颁发的「好雇主约章」，嘉
许我们是致力保障及加强雇员退休福利的模范雇
主。
6. Environmental protection (Continued)
6.5 Treasure our environment and resources
Over the years, we actively enhanced environmental benefits in the
production proces, achieving significant outcomes. Consumables
used in production are sorted out for recycling and reuse as much
as posible, so as to reduce the consumption of social resources.
As the packaging design and materials selection for the brand
products of the customers, whose production and sales are the main
functions of the headsets and headphones busines, is prescribed
by the customers, the disclosure on the consumption volume of
relevant packaging materials is not aplicable to the Group’s key
performance indicators.
7. Employment
We consider our staf to be a valuable aset to the Group. A diversified
and equitable workplace shal enhance employes’ performance and
improve the relationship betwen the Company and its employes,
thereby enabling the Company to achieve sustainable development.
Meanwhile, we comply with the relevant laws and regulations in relation
to recruitment, remuneration and welfare, working hours, rest periods,
dismisal, equal oportunity, diversity, anti-discrimination and harasment
and other aspects, including the Employment Ordinance, the Labour Law,
etc. Our eforts have won us recognition from the relevant authorities
in this regard, such as the God MPF Employer Award granted by the
Mandatory Provident Fund Schemes Authority of Hong Kong, and the
God Employer Charter by the Labor Department in recognition of
the Group’s role of model employer for its comitment to protect and
strengthen employe retirement benefits.
Environmental, Social and Governance Report
环境、社会及管治报告
63年报 2024/2025 富士高实业控股有限公司
7. Employment (Continued)
7.1 Diversified and equitable workplace
We believe that a diversified team is critical to the Group’s busines
development. In respect of recruitment and promotion, we stick
to the principle of merit and ensure a fair and equitable proces
without any discrimination. We spare no eforts to ensure that
employes enjoy equal oportunities in al aspects, including
recruitment, employment, remuneration, promotion and work
alocation and none of the employes are treated unfairly due to
factors such as race, color, age, religion, nationality or disability.
We have also established a mechanism for investigating complaints
about discrimination, so as to ensure a fair, confidential and
independent proces. The Group has adopted a “zero tolerance”
policy towards any form of discrimination, violence and harasment.
During the reporting period, the Group did not receive any report
of discrimination or harasment.
In order to efectively retain talents and reduce brain drain,
the Group has established a competitive remuneration, benefit
scale and system based on various factors such as market pay
trend, position and skil requirements. Moreover, the Group has
established a performance apraisal system and a promotion
mechanism based on the principles of fairnes and impartiality,
defined the responsibilities and performance indicators of
each position, and reviews and determines the remuneration
and promotion arangement of such employes after regular
performance apraisal. In adition to anual bonus, we also
ofer discretionary bonus based on the performance of employes
in the midle of the year in recognition of their outstanding
achievements. As of 31 March 2025, the Group had a total of 2,103
fultime employes and 154 contract labour. Below is a breakdown
of our fultime employes by age, gender and geography:
- （续）
7.1 多元平等的工作环境
我们相信多元化团队对集团业务发展非常重
要。在选贤任能上，我们秉持用人唯才方
针，以公平公正及不歧视为用人原则。确保
员工在各方面，包括：招聘、雇用、薪酬、
晋升及工作分配上享有平等机会，不会因为
种族、肤色、年龄、宗教、国籍及残疾等因
素受到不平等待遇。我们亦制定了就歧视相
关投诉的调查机制，确保过程是公平、保密
及独立。集团是绝不容忍任何歧视、暴力及
骚扰行为。本报告期内，集团没有收到任何
有关歧视及骚扰个案。
为了有效留住人才，减少人才流失，集团会
按巿场薪酬趋势、岗位、技能要求等因素制
定具巿场竞争力的薪酬、福利水平及制度。
另外，集团亦按公平公正原则建立绩效考核
及晋升机制，制定不同岗位的工作职务及表
现指标，透过定期表现评估，检讨及厘定员
工薪酬水平及晋升安排等。此外，我们除了
提供年终奖金，也会按员工表现，于年中发
放酌情性花红，奖励员工出色工作的成果。
截至2025年3月31日，集团雇用共2,103名全
职员工及154名劳务工。全职员工按年龄、
性别及地区划分如下：
以年龄计算劳动人数
Headcount by Age
2.3% 20岁以下 / Below 20
62.2% 35至50岁以下 / 35 to below 50
25.6% 20至35岁以下 / 20 to below 35
9.9% 50岁或以上 / 50 or above
1,308
以地区计算劳动人数
Headcount by Geography
97.1% 内地 Mainland China
2.9% 香港 Hong Kong
2,042
以性别计算劳动人数
Headcount by Gender
41.5% 男性 Male
58.5% 女性 Female
1,230
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64Fujikon Industrial Holdings Limited Anual Report 2024/2025
7. Employment (Continued)
7.1 Diversified and equitable workplace (Continued)
In order to enhance the staf’s sense of belonging towards the
Group and facilitate a more harmonious working atmosphere,
we organise a variety of employe activities regularly, including
Christmas party, aniversary party, al kinds of sport events, etc.,
with an aim to enhance the cohesion among the employes and
build up mutual trust betwen the employer and the employes,
inspiring the staf to make contributions to the Group’s suces,
creating a pleasant working environment and promoting
sustainable and stable development of the Group.
- （续）
7.1 多元平等的工作环境（续）
为增加员工对集团的归属感及促进和谐融洽
的工作气氛，我们定期举办多样化的员工活
动。包括圣诞联欢会、周年晚会及各类型体
育比赛等，借以加强员工之间的凝聚力，建
立劳资双方的互信，让员工与集团一起努
力，构建美好的工作环境，使企业得以持续
稳定发展。
Environmental, Social and Governance Report
环境、社会及管治报告
65年报 2024/2025 富士高实业控股有限公司
- （续）
7.1 多元平等的工作环境（续）
自2013年起集团连续12年获得由香港提升快
乐指数基金颁授「开心工作间」奖项，并获颁
「开心工作间10+」标志，肯定了集团在营造
开心愉快工作环境的努力及成果。
此外，我们非常重视与员工之间的沟通，欢
迎他们透过不同途径反映意见，例如：直接
向上级反映、透过热线电话、电邮或设置在
工作场所内的信箱提出意见或咨询。我们亦
会与离职员工进行访谈，了解其离职原因，
以改善集团内现行雇员管理制度或政策之不
足，为员工营造更理想的工作环境。
7. Employment (Continued)
7.1 Diversified and equitable workplace (Continued)
The Group has received the “Hapy Company” award from the
Promoting Hapines Index Foundation for 12 consecutive years
since 2013 and was acredited the “Hapy Company 10 Years Plus”
logo in recognition of the eforts and achievements made by the
Group in building a hapy workplace.
In adition, we atach great emphasis to comunication with
employes, and encourage them to give fedbacks and opinions
via various chanels, such as reporting directly to their superiors,
and making sugestions and enquiries through hotlines, emails
or mailboxes set up in our workplace. For employes leaving the
Company, we also arange exit interview with them to understand the
reasons for their resignation, so as to improve the deficiency in the
Group’s existing employe management system and policies, with an
aim to create a beter work environment for the employes.
Environmental, Social and Governance Report
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66Fujikon Industrial Holdings Limited Anual Report 2024/2025
7. Employment (Continued)
7.2 Labour standard
We strictly comply with the International Labour Organisation
Conventions, national labour laws and other aplicable regulations,
including the Provisions on the Prohibition of Using Child Labour,
and prohibit the use of child labour and forced labour. We also
have adopted measures to prevent such circumstances, including
carefuly verifying the identity information of each aplicant during
the recruitment proces, introducing the face recognition system to
verify whether the information and suporting certificate provided
are consistent with the aplicant, and rejecting organisations
with child labour or forced labour from our busines dealings or
coperation. Any potential breach wil not be tolerated, and shal
be investigated and adresed. During the Year, the Group did not
receive any reported instances on child labour or forced labour.
During the reporting period, the average turnover rate of the
Group was 3.1%, a breakdown of which by age, gender and
geography is as below:
- （续）
7.2 劳工准则
集团严守国际劳工组织公约、国家劳动法
例及其他适用法规，包括《禁止使用童工规
定》，禁止聘用童工及强逼劳动。我们亦采
取了措施预防有关情况，包括招聘时会严格
检查应征者之身份证明文件、透过人脸识别
机以核对其提供的资料及证件是否与本人吻
合、决不与使用童工或强逼劳动的组织进行
业务往来或合作。如有潜在违规，我们绝不
姑息，并会展开调查及跟进。本年度内，集
团并没有收到任何雇用童工及强逼劳动的个
案。
本报告期内，集团的平均流失率为3.1%，按
年龄、性别及地区划分如下：。
By age group按年龄组别划分
Below 2020岁以下0.7%
20 to below 3520至35岁以下1.4%
35 to below 5035至50岁以下0.7%
50 or above50岁或以上0.3%
Total总计3.1%
By gender按性别划分
Male男性1.3%
Female女性1.8%
Total总计3.1%
By geography按地区划分
Mainland China内地3.1%
Hong Kong香港0.0%
Total总计3.1%
Environmental, Social and Governance Report
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67年报 2024/2025 富士高实业控股有限公司
7. Employment (Continued)
7.3 Comunication with employes
Information is diseminated via the intranet, e-mails or the
Enterprise WeChat of the Group, so as to kep the employes
updated on the Company’s latest information in a timely maner.
In adition, We has also established various chanels such as social
media platform, sugestion boxes and hotlines for the employes to
provide advices and sugestions, so as to improve the deficiency in
the Group’s existing employe management system or policies, with
an aim to create a beter working environment for the employes.
7.4 Health and safety
The Group ataches great importance to the health and safety of
employes and have formulated relevant safety regulations and
rules and trainings in acordance with the Ocupational Safety and
Health Ordinance of Hong Kong and the national ocupational-
health standards and requirements of China, comiting to ofer
the employes a healthy and safe working environment. Regarding
the Hong Kong headquarters, the employes are mainly engaged
in ofice work. In acordance with the Ocupational Safety and
Health Ordinance of Hong Kong, the Company arange asesments
on ocupation safety and health from time to time or organise
various health-related seminars and publish relevant information of
ocupational safety and health on notice boards. Moreover, every
year we organize physical examination for our drivers, and have
formulated driver guidelines to ensure the safety of drivers and
pasengers.
- （续）
7.3 员工沟通
集团透过内联网，电邮或企业微信发放讯
息，让员工及时掌握公司资讯。同时，我们
亦设有社交媒体平台、意见箱、热线电话等
不同渠道让员工提出意见及建议，以改善集
团内现行雇员管理制度或政策之不足，为员
工建设更理想的工作环境。
7.4 健康及安全
集团非常重视员工的健康及安全，并按香港
职业安全及健康条例与中国家职业卫生标
准及要求，制定相关安全规章制度及培训，
致力为员工提供健康及安全的工作环境。在
香港总部方面，员工主要从事文职的工作。
公司根据香港职业安全及健康条例，不定期
进行职安健的评估或安排不同健康资讯讲座
或在员工公告栏上展示职业安全及健康的相
关资料。此外，我们每年会安排公司的司机
进行身体检查及制定驾驶指引，确保驾驶者
与乘客的安全。
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- （续）
7.4 健康及安全（续）
公司亦为员工购买商务旅游保险及个人意外
保险，保障他们在工作或非工作时，如发
生了意外引致伤残或死亡，能够获得赔偿保
障。
集团于本年度内维持零工伤死亡数字，而工
伤人数则为16人，本年因工伤而损失工作日
数为92.5日。
我们会继续改善安全保护设施，努力维系一
个健康及安全的工作环境给所有员工，未来
我们会继续加强这方面的工作，朝著「零」意
外目标。
7. Employment (Continued)
7.4 Health and safety (Continued)
The Company also purchases busines travel insurance and personal
acident insurance for the employes, so as to provide them with
insurance coverage against any acidents ocured at work or after
work. Employes wil be reimbursed for any injury, disability or
casualty caused by acidents.
The Group has achieved zero work-related casualty during the Year.
The number of work-related injuries was 16 and the lost working
days due to work-related injuries for the year were 92.5 days.
We wil continue to improve safety protection facilities and spare
no eforts in maintaining a healthy and safe working environment
for al employes. In the future, we wil continue to make greater
eforts in this area, with an aim to achieve the goal of “zero”
acident.
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- （续）
7.5 培训及发展
公司十分重视员工的学习需要，深信员工的
成长与集团的发展是相辅相成的，我们除了
提供新人入职培训外，亦会根据集团之发展
策略及员工绩效表现，为员工制定合适的培
训计划。包括内部培训及资助外部课程，透
过给员工培训及发展机会，借此提升他们的
工作能力，鼓励他们终身学习，为集团未来
业务发展提供足够人才。
Average training
hours received by
each employe
Percentage of
employes received
training
Employe training
雇员培训
每名员工
平均受训时数
已受训雇员
百分比
By gender性别
Male男1.2154.72%
Female女1.2245.28%
Total总计100.00%
By position职级
Management管理层0.176.73%
Supervisory staf督导层1.5063.49%
General staf一般员工0.7629.78%
Total总计100.00%
7. Employment (Continued)
7.5 Training and development
The Company ataches imense importance to the learning neds
of employes and believes that employes’ growth and the Group’s
development are mutualy beneficial. In adition to the orientation
training for new employes, we wil also develop apropriate
training programes for employes acording to the Group’s
development strategies and employes’ performance, including
in-house training and subsidised external trainings. Providing
employes with training and development oportunities can
improve their profesional skils, encourage them to engage in life-
long study and build a reserve of adequate talents for the futhure
busines development of the Group.
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8. 营运管治
8.1 供应链管理
集团十分重视供应商的管理。我们的耳机业
务已制定采购控制及供应商管理程序，全面
管理供应商在品质、交期、成本、服务、安
全等方面。我们在采用新供应商前，必需经
过严格审核，确保供应商符合质量管理、环
境管理、绿色产品管理、社会责任、劳工、
知识产权管理、物品安全、反恐等方面的要
求，以防止供应商的业务营运对环境及社会
造成负面影响。针对疫情对全球供应链带来
的冲击，本集团已因应客户的需求提前准备
原材料，并和供应商建立更进一步的合作关
系以确保客户的订单需求得到满足。
以下为耳机业务厂房按地区划分供应商的情
况：
8. Operations governance
8.1 Suply chain management
The Group puts a high premium on suplier management. We
have formulated procedures on purchasing control and suplier
management for the headsets and headphones busines which is
designed to manage the supliers in respect of quality, delivery
time, cost, services and safety, etc. We cary out strict asesment
on the new supliers before aceptance of such suplies to ensure
they satisfy the requirements on quality control, environmental
management, gren product management, social responsibility,
labour force, intelectual property rights management, product
safety and anti-terorism, so as to prevent their operations from
having negative impacts on the environment and society. In
response to the impact of the pandemic on the global suply chain,
the Group has prepared raw materials in advance as required by the
customers, and has established further partnerships with supliers
to fulfil customer orders.
Information on supliers of the Headsets and Headphones Plant by
geography is as folows:
供应商数目
No. of supliers
276 Mainland China 中国内地
3 Taiwan 台湾
40 Hong Kong 香港
6 Other regions 其他地区
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8. Operations governance (Continued)
8.2 Product liabilities
The Group is comited to providing premium and safe products
with reliable and consistent quality to customers. We have
developed the “Guidelines for Monitoring of Environmental Impact
of Products and Materials” for the headsets and headphones
busines, with an aim to efectively monitor if the products and
materials used in the busines activities satisfy international
requirement of “Hazardous Substances Fre” (“HSF”). Regarding
new products and equipment, we wil aply for environmental
tests so as to ensure they met various environmental protection
requirements of customers.
We have obtained ISO9001:2015 & IATF16949:2016 Quality
Management System Certification and obtained the ISO14001:2015
Environmental Management System Certification and
QC080000:2017 Hazardous Substance Proces Management System
Certification, which demonstrated the achievement in hazardous
substance management and the improvement in gren product
management made by the Group. During the Year, no product was
mandatorily recaled due to safety and health isues (2024: Nil).
- （续）
8.2 产品责任
集团致力为客户提供优质安全可靠稳定的产
品。我们的耳机业务制定了「产品及物料环
保监控作业指导书」，以有效地监控业务采
用的产品及物料能否满足「对有害物质减免」
（「HSF」）的国际要求，并会为新产品及新设
备申请环保测试，确保产品符合客户的各类
环保要求。
我们通过了ISO9001:2015 & IATF16949:2016
的质量管理体系认证，同时也通过
ISO14001:2015环境管理体系与QC080000:2017
版有害物质管理体系认证，以证明集团在有
害物质管理方面取得了工作成效及完善了绿
色产品管理。本年度，我们未有因安全及健
康理由而需要强制回收产品（2024：无）。
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- （续）
8.2 产品责任（续）
为了提高产品质量一次性通过率，降低因
产品不合格导致的ESG成本，增强客户满意
度，耳机业务厂房于本年度引进IPC的相关
培训及进行了IPC QML认证，总共有14个专
业人员获得IPC颁发的CTI/CIS证书，耳机业务
厂房顺利获得了IPC QML认证一级、二级证
书，成为IPC在全球的第101家认证工厂，加
入全球可信赖的制造商网络。
8. Operations governance (Continued)
8.2 Product liabilities (Continued)
In order to improve product quality with higher first time pas
rate, reduce ESG costs incured due to substandard products and
increase customer satisfaction level, the Headsets and Headphones
Plant introduced IPC-related training and caried out IPC QML
certification during the Year, with a total of 14 profesional staf
obtaining CTI/CIS certificates isued by IPC. The Headsets and
Headphones Plant has sucesfuly obtained the IPC QML Grade 1
and I certificates, becoming the 101th plant that has obtained such
certificates isued by IPC around the world and a part of the global
reliable manufacturer network.
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- （续）
8.3 服务责任
集团重视客户的反馈及意见。不达标的产品
或客户投诉一律会跟进及处理。根据耳机业
务的「客户抱怨处理作业指导书」，我们会
了解客户反馈的真实情况，并对反馈意见进
行及时而有效的处理，以持续改善产品质
和提升客户满意度。于本年度，我们收2宗
（2024: 1宗）客户投诉。往后我们持续提升对
市场反馈的反应速度，应对快速多变的市场
环境。
在知识产权保护方面，集团依照中华人民共
和国企业知识产权管理（GB/T 29490-2013）、
商标法和专利法之规定，规范集团实施、维
护和持续改进知识产权管理的方针。一方面
建立了健全的保密制度及管理程序，并严格
地将这些制度及程序应用在耳机业务的各个
运作层面，如「新产品导入程序」、「知识产
权保护作业指导书」、「样板综合管理作业指
导书」、「员工保密协议作业指导书」、「安
保综合作业指导书」、「档案记录控制程序」
及专业的文件传输控制管理系统等；另一方
面，集团谨遵各个国家和各个国际组织在知
识产权保护方面的法律法规，以防止协力厂
商的知识产权在本集团产品上的不当引用。
具体的执行措施如下：
- ：产品设计功能全部
集中在一个部门而不是分散于不同的
业务组，既便于设计人员的集中管
理，也便于设计资料在单一服务器上
的统一保护。
8. Operations governance (Continued)
8.3 Service responsibility
The Group ataches importance to customers’ fedback and
opinions. Folow-up measures are taken and responses are given
regarding substandard products or customer complaints. In
acordance with the procedures as set out in the “Guidelines for
Handling Customer Complaints” of our headsets and headphones
busines, we wil get an understanding of the actual circumstance
on which a customer complains, and wil handle such complaint in
a timely and eficient maner, so as to constantly improve product
quality and enhance customer satisfaction. During the Year, we
received 2 (2024: 1) customer complaints. In the future, we wil
continue to reduce response time regarding market fedback for
beter adaptation to the changeable market condition.
In respect of intelectual property rights protection, the Group’s
intelectual property rights policy is in compliance with the
Enterprise Intelectual Property Management (GB/T 29490-2013),
Trademark Law and the Patent Law of the PRC and regulates
implementation, maintenance and continuous improvement of the
Group’s management on intelectual property rights. The Group,
on the one hand, has established sound confidentiality system and
management procedures, such as the “New Product Introduction
Procedure”, the “Guidelines for Protection of Intelectual Property
Rights”, the “Guidelines for Comprehensive Sample Management”,
the “Guidelines for Employe Confidentiality Agrement”,
the “Guidelines for Comprehensive Security Operation”, the
“Documentation Control Procedures” as wel as profesional
document transmision control and management systems etc., which
have ben strictly aplied to Headsets and Headphones busines
operation; On the other hand, the Group abides by the laws and
regulations of every country and international organization in
relation to protection of intelectual property rights, so as to
prevent unauthorised use of intelectual property rights of any
third party on our products. The measures implemented by the
Group are as folows:
1. Centralised product design: Product design is caried out
by one single department other than by various busines
groups, enabling centralised management of the proces by
design staf and also facilitating unified protection of design
information via single server.
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8. Operations governance (Continued)
8.3 Service responsibility (Continued)
2. Encrypted management of technological information:
Utilization of profesional file encryption software E-Lock to
prevent unauthorised divulgence of technological information.
3. Development of aproval proces for transmision of
technological information: In order to prevent unauthorised
file transmision, the rights of the author of technological
information, the aprover for file transmision and the
operator of file transmision shal be separated, and the
technological information which have ben aproved for
transmision shal only be transmited by authorized operator
via designated chanel through point-to-point encryption
means.
4. Sample management: In adition to the “Guidelines for
Comprehensive Sample Management”, the Group has
asigned a dedicated code for each sample for management
of the physical product samples, so as to ensure traceable
management record for each physical sample to prevent
unauthorised leakage of products.
5. Implementation of employe confidentiality agrement
system: Every employe who may have aces to confidential
technological information shal sign the “Employe
Confidentiality Agrement”, under which they are obligated
and responsible for keping confidential the product
information and trade secrets of the Group.
6. Product design premises including the research and
development department and the ofices of various busines
units are under around-the-clock closed circuit television
surveilance.
7. For quotation evaluation before introduction of a new
project, infringement on intelectual property rights of any
third party is one of the important evaluation criteria. During
the research and development of new product project, the
senior design enginer and product development manager
wil conduct patent examination, so as to ensure that
the aplication of patented technology in relation to our
products is in compliance with the requirements of the laws
and regulations.
The above-mentioned procedures and management systems as wel
as the operation equipment are runing wel, showing satisfactory
control results.
- （续）
8.3 服务责任（续）
- ：利用专业的加
密软件E-Lock防止技术资料的非法流
出。
- ：为防止
未经授权的档案传送行为，技术资料
的撰写者、资料传送的审批者、资料
传送的操作者三权分离，获批准传送
的技术资料只能被授权操作者经由指
定传送渠道以点对点的方式加密传送。
- ︰除了制定「样板综合管理作
业指导书」外，每个样板均有独有的辨
别号码，以管理产品实物样板，确保
每一个实物样板均有可查证的管控记
录，防止产品被非法流出。
- ：每个可
能接触到保密技术资料的雇员必须签
署「员工保密协议」，签署者有义务和
责任严守集团的产品信息和商业机密。
- ，包括研究及开发系和
各业务部办公场所已实行全天候视频
监控。
- ，是否
涉及协力厂商知识产权侵权是重要的
评估环节。在新产品项目开发过程
中，高级设计工程师和产品开发管理
人员会进行专利核查，以确保本公司
产品在专利技术的引用上是合法合规
的。
以上程式及管理制度，工具运作状态正常，
控制效果良好。
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8. Operations governance (Continued)
8.4 Anti-coruption
The Group always upholds the principle of “honesty, integrity and
fairnes”. Any kind of bribery and coruption activities are strictly
prohibited, and the relevant requirements are specified in the
Company’s Policy Guidelines and Busines Ethics Code.
Furthermore, we have established a mechanism for declaration
of interests and diversified reporting chanels, such as reporting
to the human resources department in writing or by email. We
also make every efort to kep confidential of the identity of
the informant and to deal with each case in a fair and prudence
maner for the purpose of maintaining a climate of fairnes and
integrity within the Group.
In adition to the formation of relevant policies, the Group
promotes mesage against bribery, blackmail and fraud through
means such as orientation, internal newsleters and notice board to
enhance employes’ knowledge of anti-coruption, so as to enhance
employes’ knowledge of integrity and anti-coruption and kep
them vigilant against such practices. Besides, we also regularly
arange representative from the Independent Comision against
Coruption of Hong Kong (“ICAC”), the Procuratorate in the PRC
or internal trainers of the Group to deliver lectures and trainings
on anti-coruption for our employes in Hong Kong and Mainland
China, with an aim to improve their anti-coruption awarenes, etc.
There was no case of bribery and coruption in the Group during
the Year.
- （续）
8.4 反贪腐
集团一直坚守「诚信、廉洁、公平」的信念，
我们严禁所有贿赂及贪污行为，并于公司政
策指引及商业道德守则中已列明相关要求。
同时我们建立申报利益机制及多元的举报机
制，包括以书面或电邮向人力资源部举报。
公司亦会致力确保举报者的身份得到保密，
以公平、审慎的原则处理举报个案，以维持
集团公平廉洁的风气。
除制定政策外，集团为增进员工重廉洁、反
贪腐的知识及提高警觉性，会透过迎新会、
内部报刊、通讯栏等形式宣传防止贿赂、勒
索、欺诈的资讯，教育员工反贪腐的知识。
另外，我们亦定期安排香港廉政公署、中国
检察院代表或集团内部培训师为香港及内地
员工进行防贪讲座及培训，以全面提高员工
的反贪意识等。本年度集团没有贿赂及贪污
个案。
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9. 关爱社区
集团在追求业务发展的同时，不忘「取之社会，
回馈社会」的核心价值，肩负企业的社会责任，
积极投入社区服务。每年参与或举办不同的慈善
活动，帮助有需要的群体或组织机构，共同努力
建立关爱和谐的社会。截至2025年3月31日止年
度，集团共捐款总额约为102,000港元。
9.1 学生职业导向
年青人就是社会的未来栋梁，我们一直透过
赞助VTC设计教育基金以及优秀企业实习奖
学金，以奖励学生的学业成就、支援有经济
需要的学生。此外，我们也鼎力支持由劳工
处主办的「大湾区青年就业计划」，提供机会
让香港的青年在粤港澳大湾区内地城市发展
事业。
9. Comunity caring
While pursuing its busines development, the Group bears in mind
the core value of “giving back to the society”. Being comited to
its corporate social responsibilities, the Group plays an active part in
comunity services by taking part in or organising a variety of charitable
events every year, with an aim to help groups or organisations in ned
and work together to build a caring and harmonious society. For the year
ended 31 March 2025, the Group has made total donations amounting to
aproximately HK$102,000 in agregate.
9.1 Carer guidance for students
As the young generation wil be the pilars of our society in the
future, we have ben sponsoring the “VTC Design Education Fund”
and the “Outstanding Industrial Atachment Scholarships” to ofer
incentives to students for their academic achievements and to
suport students in financial ned. In adition, we also vigorously
suported the “Greater Bay Area Youth Employment Scheme”
launched by Labour Department by ofering young people from
Hong Kong oportunities to develop their carer in mainland cities
within Guangdong–Hong Kong–Macao Greater Bay Area.
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- （续）
9.2 热心公益
我们员工积极履行公司宗旨：「热心公益」，
多年来皆身体力行积极参与各类型慈善活
动。包括：健康快车慈善行2024，渣打马拉
松2025，外展冲劲乐2024，帮助有需要的团
体或人士。
9. Comunity caring (Continued)
9.2 Engagement in public welfare
Our staf proactively fulfil the Company’s dedication to public
welfare, and have ben actively participating in a variety of charity
activities for the past years, including Lifeline Expres Charity Walk
2024, Standard Chartered Marathon 2025 and Outward Bound
Corporate Chalenge 2024, to help the group or people in ned.
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- （续）
9.2 热心公益（续）
富士高义工队本年度赞助及身体力行参与了
两次社区探访活动，为员工提供一个服务
社区的机会。本年度义工队参与了由循道卫
理杨震社会服务处主办的「同心关怀贺中秋
2024」活动，透过探访社区内独居长者，为
长者送上中秋礼包及祝福一同欢度佳节；以
及参与了由长者安居协会主办的「齐心护老
送平安」活动，透过探访全港18区内500户独
居或双老长者，为他们送上关怀与礼物包，
鼓励他们多用平安钟作日常和紧急支援。透
过扩大义工队的规模，鼓励员工带同家人一
同参与更多不同的社区服务，为社会作出更
多贡献。
9. Comunity caring (Continued)
9.2 Engagement in public welfare (Continued)
The Fujikon Volunter Team sponsored and participated in two
comunity visit activities during the Year, ofering the employes
an oportunity to serve the comunity. During the Year, the
volunter team participated in the “Mid-Autumn Festival Elderly
Care Programe 2024” organised by Yang Memorial Methodist
Social Service, to visit the elderly living alone in the comunity to
ofer the elderly gift packages and blesing to celebrate the Mid-
Autumn Festival, and also participated in the “Safety Caring for the
Elderly (齐心护老送平安)” initiative organised by Senior Citizen Home
Safety Asociation to visit 500 households of elderly individuals
living alone or in pairs in the 18 districts acros Hong Kong, ofering
them care and gift packages and encouraging them to use Care-On-
Cal Service for ordinary and emergency suport. By expanding our
volunter team, we encourage our employes, together with their
family members, to participate in more comunity services, with an
aim to make greater contribution to the comunity.
Environmental, Social and Governance Report
环境、社会及管治报告
79年报 2024/2025 富士高实业控股有限公司
9. Comunity caring (Continued)
9.2 Engagement in public welfare (Continued)
During the Year, the Group was again awarded the label under
the “ESG+” Pledge Scheme, signed the pledge statement and made
action undertakings to improve performance in environmental
protection, social responsibility and enterprise governance, in a
joint efort to create a sustainable future. In adition, the Group
was acredited the “Caring Company 15 Years plus” and the
“Industry Cares 8 Years Plus” logos this year in recognition of
our contribution to the comunity for the past years, which also
demonstrated the Group’s god corporate image of proactively
participating in comunity activities and fulfiling the comitment
of “We, as a corporate citizen, devote ourselves to the prosperity
of our society”.
- （续）
9.2 热心公益（续）
集团本年度继续获颁「ESG+」约章标志，签署
约章和订立行动承诺提升环境保护、社会责
任及企业管治表现，为创建可持续未来而共
同努力。以及获颁「商界展关怀15年+」及「工
业献爱心8年+」标志，表彰我们过往多年来
对关怀社区的贡献，引证了本集团是积极参
与社区活动、履行「取之社会，回馈社会」的
良好企业。
Environmental, Social and Governance Report
环境、社会及管治报告
80Fujikon Industrial Holdings Limited Anual Report 2024/2025
10. 本年度获得奖项列表
10.1 雇佣关系相关奖项
AwardsIsuing agency
奖项名称颁发机构
2025 Hapy Company
开心工作间2025
Promoting Hapines Index Foundation and Hong Kong Productivity Council
香港快乐指数基金及香港生产力促进局
God MPF Employer 2023-2024
积金好雇主2023-2024
Mandatory Provident Fund Schemes Authority
强制性公积金计划管理局
God Employer Charter 2024
好雇主约章2024
Labour Department
劳工处
God Employer Charter 2024
好雇主约章2024
Labour Department
劳工处
10.2 社会贡献相关奖项
AwardsIsuing agency
奖项名称颁发机构
Caring Certificates of “Industry Cares” 2024
「工业献爱心」2024爱心关怀奖
Federation of Hong Kong Industries
香港工业总会
Caring Company 2024-2025
商界展关怀2024-2025
The Hong Kong Council of Social Service
香港社会服务联会
ESG+ Pledge Scheme 2025
ESG+约章计划2025
The Chinese Manufacturers’ Asociation of Hong Kong
香港中华厂商联合会
Outstanding Industrial Atachment Scholarships 2024
优秀企业实习奖学金2024
Vocational Training Council
职业训练局
10.3 关爱活动感谢状
AwardsIsuing agency
奖项名称颁发机构
Outward Bound Corporate Chalenge 2024
外展冲劲乐2024
The Outward Bound Trust of Hong Kong Limited
香港外展训练学校
Mid-Autumn Festival Elderly Care Programe 2024
同心关怀贺中秋2024
Yang Memorial Methodist Social Service – Choi Hung Comunity Centre for
Senior Citizen
循道卫理杨震彩虹长者综合服务中心
Lifeline Expres Charity Walk 2024
健康快车慈善行2024
Lifeline Expres Hong Kong Foundation
健康快车香港基金
Safety Caring for the Elderly Initiative 2025
齐心护老送平安2025
Senior Citizen Home Safety Asociation
长者安居协会
10. Awards received during the Year
10.1 Employment relationship awards
10.2 Society contribution awards
10.3 Certificates of apreciation
Independent Auditor’s Report
独立核数师报告
81年报 2024/2025 富士高实业控股有限公司
To the Shareholders of Fujikon Industrial Holdings Limited
(incorporated in Bermuda with limited liability)
Opinion
What we have audited
The consolidated financial statements of Fujikon Industrial Holdings Limited (the
“Company”) and its subsidiaries (the “Group”), which are set out on pages 88 to
158, comprise:
- ;
• the consolidated statement of comprehensive income for the year then
ended;
- ;
- ; and
- , comprising material
acounting policy information and other explanatory information.
Our opinion
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 as 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.
致富士高实业控股有限公司股东
（于百慕达注册成立的有限公司）
意见
我们已审计的内容
富士高实业控股有限公司（以下简称「贵公司」）及其
附属公司（以下统称「贵集团」）列载于第88至158页
的综合财务报表，包括：
- ；
- ；
- ；
- ；及
- ，包括重大会计政策信息及
其他解释信息。
我们的意见
我们认为，该等综合财务报表已根据香港会计师公
会颁布的《香港财务报告会计准则》真实而中肯地反
映了贵集团于2025年3月31日的综合财务状况及其
截至该日止年度的综合财务表现及综合现金流量，
并已遵照香港《公司条例》的披露规定妥为拟备。
Independent Auditor’s Report
独立核数师报告
82Fujikon Industrial Holdings Limited Anual Report 2024/2025
意见的基础
我们已根据香港会计师公会颁布的《香港审计准则》
进行审计。我们在该等准则下承担的责任已在本报
告「核数师就审计综合财务报表承担的责任」部分中
作进一步阐述。
我们相信，我们所获得的审计凭证能充足及适当地
为我们的审计意见提供基础。
独立性
根据香港会计师公会颁布的《专业会计师道德守则》
（以下简称「守则」），我们独立于贵集团，并已履行
守则中的其他专业道德责任。
关键审计事项
关键审计事项是根据我们的专业判断，认为对本期
综合财务报表的审计最为重要的事项。该事项是在
我们审计整体综合财务报表及出具意见时进行处理
的。我们不会对该事项提供单独的意见。
我们在审计中识别的关键审计事项如下：
• 存货的可变现净值
Basis for Opinion
We conducted our audit in acordance with Hong Kong Standards on Auditing
(“HKSAs”) as 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 believe that the audit evidence we have obtained is suficient and
apropriate to provide a basis for our opinion.
Independence
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.
Key Audit Mater
Key audit mater is the mater that, in our profesional judgment, was of most
significance in our audit of the consolidated financial statements of the curent
period. This mater was 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 this mater.
The key audit mater identified in our audit is as folows:
• Net realisable value of inventories
Independent Auditor’s Report
独立核数师报告
83年报 2024/2025 富士高实业控股有限公司
Key Audit Mater (Continued)
Key Audit MaterHow our audit adresed the Key Audit Mater
关键审计事项我们的审计如何处理关键审计事项
Net realisable value of inventories
Refer to Notes 4(a) and 12 to the consolidated financial
statements.
As at 31 March 2025, net inventories of the Group
amounted to aproximately HK$146.6 milion. As
described in the acounting policies in Note 2.6 to
the consolidated financial statements, inventories are
caried at the lower of cost and net realisable value.
Management aplied judgment in determining the
apropriate provision for obsolete inventories and
inventories with net realisable value below cost. Net
realisable value is determined based upon a detailed
analysis of inventories ageing, with reference to the
curent marketability and latest seling prices of the
relevant inventories and the curent market conditions
existing at the end of the year. As at 31 March 2025,
provision for inventories amounted to aproximately
HK$18.9 milion.
Our procedures in relation to management’s asesment
on net realisable value of inventories included:
– We understod and evaluated management’s
internal controls and asesment proces of
provision for inventories and asesed the inherent
risk of material mistatement by considering
the degre of estimation uncertainty and level
of other inherent risk factors asociated with
this acounting estimate, and validated the key
controls on inventories operating acros the Group,
including the procedures on periodic review of
inventories impairment, on a sample basis.
– We evaluated the outcome of prior period
asesment to ases the efectivenes of
management’s estimation proces.
– We tested, on a sample basis, the acuracy of
inventories ageing used by management to
estimate the apropriate provision for slow moving
and obsolete inventories by checking to relevant
invoices and god received documents.
存货的可变现净值
请参阅综合财务报表附注4(a)及12。
于2025年3月31日，贵集团的存货净值约为146,600,000港元。
如综合财务报表附注2.6中的会计政策所述，存货以成本与可变
现净值两者的较低者列账。
管理层运用判断以为过时存货以及可变现净值低于成本的存货
厘定适当拨备。可变现净值是根据对库龄的详细分析而厘定，
并参考了相关存货当前的可销售性和近期售价以及年终的市场
状况。于2025年3月31日，存货拨备约为18,900,000港元。
我们对管理层关于存货可变现净值之评估所执行的审核程序包
括：
– 通过考虑该会计估算有关估计的不确定程度及其他固有风
险因素水平，了解及评估管理层的内部控制及对存货拨备
的评估流程，评估重大错误陈述的固有风险，并抽样验证
了贵集团内对存货所实施的关键控制，包括定期覆核存货
减值的程序。
– 评定过往期间的评估结果，以评估管理层估计过程的有效
性。
– 通过以抽样方式核对相关发票及收货记录，测试管理层估
计滞销和过时存货的适当拨备所使用的库龄的准确性。
关键审计事项（续）
Independent Auditor’s Report
独立核数师报告
84Fujikon Industrial Holdings Limited Anual Report 2024/2025
Key Audit Mater (Continued)
Key Audit MaterHow our audit adresed the Key Audit Mater
关键审计事项我们的审计如何处理关键审计事项
We focused on this area due to the size of the
balances and the judgment and estimates involved by
management in determining the net realisable value of
the inventories.
– We compared the carying amounts of finished
gods, on a sample basis, to their net realisable
values as evidenced by the sales price subsequent
to the year end to ases the apropriatenes of
provision.
Based on the procedures performed, we found the
judgment and estimates made by management in
relation to asesment of net realisable value of
inventories to be suportable by available evidence.
我们关注此范畴是基于有关结余的规模，以及管理层在厘定存
货的可变现净值时涉及的判断及估计。
– 通过年末结算日后的销售价格的证明，以抽样方式将制成
品的账面价值与其可变现净值进行比较，以评估相关拨备
的适当性。
根据所执行的程序，我们发现管理层就评估存货可变现净值所
作出的判断及估计有可得的证据支持。
关键审计事项（续）
Independent Auditor’s Report
独立核数师报告
85年报 2024/2025 富士高实业控股有限公司
其他信息
贵公司董事须对其他信息负责。其他信息包括年报
内的所有信息，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信息，我
们亦不对该等其他信息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
读其他信息，在此过程中，考虑其他信息是否与综
合财务报表或我们在审计过程中所了解的情况存在
重大抵触或者似乎存在重大错误陈述的情况。
基于我们已执行的工作，如果我们认为其他信息存
在重大错误陈述，我们需要报告该事实。在这方
面，我们没有任何报告。
董事及审计委员会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
财务报告会计准则》及香港《公司条例》的披露规定拟
备真实而中肯的综合财务报表，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。
审计委员会须负责监督贵集团的财务报告过程。
Other Information
The directors of the Company are responsible for the other information. The
other information comprises al of the information included in the anual
report other than 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 the Audit Comite 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 HKFRS Acounting Standards as 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.
The Audit Comite is responsible for overseing the Group’s financial reporting
proces.
Independent Auditor’s Report
独立核数师报告
86Fujikon Industrial Holdings Limited Anual Report 2024/2025
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，并出具包括我们意见的核数师报告。我们仅按
照百慕达一九八一年《公司法》第90条向阁下（作为
整体）报告我们的意见，除此之外本报告别无其他目
的。我们不会就本报告的内容向任何其他人士负上
或承担任何责任。合理保证是高水平的保证，但不
能保证按照《香港审计准则》进行的审计，在某一重
大错误陈述存在时总能发现。错误陈述可以由欺诈
或错误引起，如果合理预期它们单独或汇总起来可
能影响综合财务报表使用者依赖综合财务报表所作
出的经济决定，则有关的错误陈述可被视作重大。
在根据《香港审计准则》进行审计的过程中，我们运
用了专业判断，保持了专业怀疑态度。我们亦：
• 识别和评估由于欺诈或错误而导致综合财务报
表存在重大错误陈述的风险，设计及执行审计
程序以应对这些风险，以及获取充足和适当的
审计凭证，作为我们意见的基础。由于欺诈可
能涉及串谋、伪造、蓄意遗漏、虚假陈述，或
凌驾于内部控制之上，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。
• 对董事采用持续经营会计基础的恰当性作出结
论。根据所获取的审计凭证，确定是否存在与
事项或情况有关的重大不确定性，从而可能导
致对贵集团的持续经营能力产生重大疑虑。如
果我们认为存在重大不确定性，则有必要在核
数师报告中提请使用者注意综合财务报表中的
相关披露。假若有关的披露不足，则我们应当
发表非无保留意见。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。
Auditor’s Responsibilities 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. We report our opinion solely to you, as a body, in acordance with
Section 90 of the Companies Act 1981 of Bermuda, 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 scepticism 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.
- ’ 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.
Independent Auditor’s Report
独立核数师报告
87年报 2024/2025 富士高实业控股有限公司
核数师就审计综合财务报表承担的责任
（续）
- 、结构和内
容，包括披露，以及综合财务报表是否中肯反
映交易和事项。
- ，以获取关于贵集团内实
体或业务单位财务信息的充足和适当的审计凭
证，以对综合财务报表形成审计意见提供基
础。我们负责指导、监督和覆核为集团审计而
执行的审计工作。我们为审计意见承担总体责
任。
除其他事项外，我们与审计委员会沟通了计划的审
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。
我们还向审计委员会提交声明，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，用以消除对独立性
产生威胁的行动或采取的防范措施。
从与审计委员会沟通的事项中，我们确定哪些事项
对本期综合财务报表的审计最为重要，因而构成关
键审计事项。我们在核数师报告中描述这些事项，
除非法律法规不允许公开披露这些事项，或在极端
罕见的情况下，如果合理预期在我们报告中沟通某
事项造成的负面后果超过产生的公众利益，我们决
定不应在报告中沟通该事项。
出具本独立核数师报告的审计项目合伙人是吴晓彤
（执业证书编号：P05150）。
罗兵咸永道会计师事务所
执业会计师
香港，2025年6月27日
Auditor’s Responsibilities for the Audit of the Consolidated
Financial Statements (Continued)
- , 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
consolidated 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 the Audit Comite 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 the Audit Comite 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.
From the maters comunicated with the Audit Comite, 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 Ng Hiu Tung (practising certificate number: P05150).
PricewaterhouseCopers
Certified Public Acountants
Hong Kong, 27 June 2025
| 2025 |
|---|
| HK$’000 |
| 112,499 |
| 3,300 |
| 21,559 |
| – |
| 9,806 |
| 9,387 |
| 4,341 |
| 160,892 |
| 146,609 |
| 187,508 |
| 14,679 |
| 235 |
| 118,019 |
| 236,756 |
| 703,806 |
| 105,153 |
| 136,730 |
| 7,213 |
| 17,321 |
| 266,417 |
| 437,389 |
| 598,281 |
Consolidated Statement of Financial Position
综合财务状况表
As at 31 March 2025
于2025年3月31日
88Fujikon Industrial Holdings Limited Anual Report 2024/2025
Note2024
附注HK$’000
Non-curent asets非流动资产
Property, plant and equipment物业、厂房及设备6106,934
Investment properties投资物业71,400
Right-of-use asets使用权资产816,829
Intangible aset无形资产95
Non-curent deposits and other asets非流动按金及其他资产134,226
Financial asets at fair value through
other comprehensive income
按公平值计入其他全面收
益的财务资产10–
Defered income tax asets递延所得税资产1612,850
Total non-curent asets非流动资产总值142,244
Curent asets流动资产
Inventories存货12152,750
Trade receivables应收货款13303,551
Other receivables其他应收款项1317,369
Curent income tax recoverable可收回当期所得税271
Time deposits with original maturity of
more than thre months
原定到期日超过三个月的
定期存款14–
Cash and cash equivalents现金及现金等价物14325,842
Total curent asets流动资产总值799,783
Curent liabilities流动负债
Trade payables应付货款15127,427
Contract liabilities, acruals and other
payables
合约负债、应计费用及
其他应付款项15115,728
Lease liabilities租赁负债4,058
Curent income tax liabilities当期所得税负债18,946
Total curent liabilities流动负债总值266,159
Net curent asets流动资产净值533,624
Total asets les curent liabilities总资产减流动负债675,868
| 2025 |
|---|
| HK$’000 |
| 4,306 |
| 2,329 |
| 6,635 |
| 591,646 |
| 42,584 |
| 458,152 |
| 500,736 |
| 90,910 |
| 591,646 |
As at 31 March 2025
于2025年3月31日
89年报 2024/2025 富士高实业控股有限公司
Consolidated Statement of Financial Position
综合财务状况表
上述综合财务状况表应与随附注一并阅读。
Note2024
附注HK$’000
Non-curent liabilities非流动负债
Lease liabilities租赁负债1,614
Defered income tax liabilities递延所得税负债162,211
Total non-curent liabilities非流动负债总值3,825
Net asets资产净值672,043
Equity权益
Capital and reserves atributable to the
Company’s equity holders
归属本公司股权持有人之
股本及储备
Share capital股本1742,584
Reserves储备528,365
570,949
Non-controling interests非控制性权益101,094
Total equity权益总计672,043
The consolidated financial statements on pages 88 to 158 were
aproved by the Board of Directors on 27 June 2025 and were
signed on its behalf.
YEUNG CHI HUNG, JOHNYUEN YE SAI, SIMON
杨志雄源而细
ChairmanJoint Deputy Chairman
主席联席副主席
The above consolidated statement of financial position should be
read in conjunction with the acompany notes.
载于第88至158页之综合财务报表已于2025年6月27日
获董事会批准并经由以下董事代表签署。
| 2025 |
|---|
| HK$’000 |
| 925,560 |
| (678,999) |
| 246,561 |
| (90,564) |
| (9,938) |
| (128,925) |
| 32 |
| 17,166 |
| 12,291 |
| 29,457 |
| (29,170) |
| 287 |
| (1,187) |
| 665 |
| (638) |
| (29) |
| 1,122 |
| (67) |
| 220 |
Consolidated Statement of Comprehensive Income
综合全面收益表
For the year ended 31 March 2025
截至2025年3月31日止年度
90Fujikon Industrial Holdings Limited Anual Report 2024/2025
Note2024
附注HK$’000
Revenue 收入20992,521
Cost of sales销售成本(816,528)
Gros profit毛利175,993
Other (loses)/gains – net其他（亏损）╱收益－净额215,492
Distribution and seling expenses分销及销售支出(9,334)
General and administrative expenses一般及行政支出(127,783)
Reversal of provision/(provision) for
impairment of trade receivables
应收货款减值回拨╱（拨备）
13(141)
Operating profit经营溢利2244,227
Finance income – net融资收入－净额2313,633
Profit before income tax除所得税前溢利57,860
Income tax expenses所得税支出24(10,756)
Profit for the year年内溢利47,104
Other comprehensive income:其他全面收益：
Items that have ben reclasified or may
be subsequently reclasified to profit or
los:
已重新分类或期后可被重新分类
至损益之项目：
– Curency translation diferences－汇兑差额(12,756)
– Fa ir value gains/(loses) on financial
asets at fair value through other
comprehensive income
－按 公平值计入其他全面收益
的财务资产之公平值收
益╱（亏损）(10)
– Re lease upon disposal of financial
asets at fair value through other
comprehensive income
－出 售按公平值计入其他全面
收益的财务资产时拨回
Items that wil not be subsequent
reclasified to profit or los:
期后将不可被重新分类至损益之
项目：
– Curency translation diferences－汇兑差额(1,489)
– Su rplus on revaluation of right-of-use
asets upon transfer to investment
properties
－使 用权资产之重估盈余拨入
投资物业
–
Other comprehensive income for the year,
net of tax
年内其他全面收益，已扣除税项
(14,227)
Total comprehensive income for the year年内全面收益总额32,877
| 2025 |
|---|
| HK$’000 |
| (36,108) |
| 36,395 |
| 287 |
| (36,146) |
| 36,366 |
| 220 |
| (8.5) |
| (8.5) |
For the year ended 31 March 2025
截至2025年3月31日止年度
91年报 2024/2025 富士高实业控股有限公司
Consolidated Statement of Comprehensive Income
综合全面收益表
Note2024
附注HK$’000
(Los)/profit atributable to:（亏损）╱溢利归属：
Equity holders of the Company本公司股权持有人17,168
Non-controling interests非控制性权益29,936
47,104
Total comprehensive income atributable
to:
全面收益总额归属：
Equity holders of the Company本公司股权持有人4,430
Non-controling interests非控制性权益28,447
32,877
(Los)/earnings per share for (los)/profit
atributable to the equity holders of the
Company for the year:
年内归属本公司股权持有人之
（亏损）╱溢利的每股（亏损）╱
盈利：
– Basic (HK cents per share)－基本（每股港仙）264.0
– Diluted (HK cents per share)－摊薄（每股港仙）264.0
The above consolidated statement of comprehensive income
should be read in conjunction with the acompany notes.
上述综合全面收益表应与随附注一并阅读。
| 42,584 | 156,490 | 371,875 | 101,094 | 672,043 |
|---|---|---|---|---|
| – | – | (36,108) | 36,395 | 287 |
| – | (1,187) | – | (29) | (1,216) |
| – | 665 | – | – | 665 |
| – | (638) | – | – | (638) |
| – | 1,122 | – | – | 1,122 |
| – | (38) | (36,108) | 36,366 | 220 |
| – | 2,187 | (2,187) | – | – |
| – | – | (34,067) | (46,550) | (80,617) |
| 42,584 | 158,639 | 299,513 | 90,910 | 591,646 |
Consolidated Statement of Changes in Equity
综合权益变动表
For the year ended 31 March 2025
截至2025年3月31日止年度
92Fujikon Industrial Holdings Limited Anual Report 2024/2025
Atributable to equity holders
of the Company
归属于本公司股权持有人
Note
Share
capital
Other
reserves
Retained
earnings
Non–
controling
interests
Total
equity
附注股本其他储备保留溢利
非控制性
权益权益总计
HK$’000HK$’000HK$’000HK$’000HK$’000
At 1 April 2023于2023年4月1日42,584169,228388,77472,647673,233
Profit for the year年内溢利–17,16829,93647,104
Other comprehensive income:其他全面收益：
– Curency translation diferences－汇兑差额19–(12,756)–(1,489)(14,245)
– Fair value loses on financial asets at fair value
through other comprehensive income
－按公平值计入其他全面收益的
财务资产之公平值亏损19–(10)–(10)
– Release upon disposal of financial asets at fair
value through other comprehensive income
－出售按公平值计入其他全面
收益的财务资产时拨回19–28–28
Total comprehensive income for the year ended
31 March 2024
截至2024年3月31日止年度全面收益
总额–(12,738)17,16828,44732,877
Transactions with owners in their capacity as
owners:
与所有者以其所有者身份进行
的交易：
Dividends paid已付股息–(34,067)–(34,067)
At 31 March 2024于2024年3月31日
(Los)/profit for the year年内（亏损）╱溢利
Other comprehensive income:其他全面收益：
– Curency translation diferences－汇兑差额19
– Fair value gains on financial asets at fair value
through other comprehensive income
－按公平值计入其他全面收益的
财务资产之公平值收益19
– Release upon disposal of financial asets at fair
value through other comprehensive income
－出售按公平值计入其他全面
收益的财务资产时拨回19
– Surplus on revaluation of right-of-use asets
upon transfer to investment properties
－使用权资产之重估盈余拨入
投资物业19
Total comprehensive income for the year ended
31 March 2025
截至2025年3月31日止年度全面收益
总额
Transactions with owners in their capacity as
owners:
与所有者以其所有者身份进行的
交易：
Apropriation of statutory reserve转拨至法定储备19
Dividends paid已付股息
At 31 March 2025于2025年3月31日
The above consolidated statement of changes in equity should be
read in conjunction with the acompany notes.
上述综合权益变动表应与随附注一并阅读。
| 2025 |
|---|
| HK$’000 |
| 168,642 |
| (3) |
| (15,290) |
| 27 |
| (5,378) |
| (1,446) |
| 146,552 |
| 12,302 |
| (25,736) |
| 309 |
| (7,409) |
| (32,110) |
| 23,388 |
| – |
| (118,019) |
| (147,275) |
| (7,376) |
| (397) |
| (34,067) |
| (46,550) |
| (88,390) |
| (89,113) |
| 27 |
| 325,842 |
| 236,756 |
For the year ended 31 March 2025
截至2025年3月31日止年度
Consolidated Statement of Cash Flows
综合现金流量表
93年报 2024/2025 富士高实业控股有限公司
Note2024
附注HK$’000
Cash flows from operating activities经营活动现金流量
Cash generated from operations经营业务所得之现金29(a)40,881
Interest paid已付利息(10)
Hong Kong profits tax paid已付香港利得税(6,001)
Hong Kong profits tax refunded已退还香港利得税–
China corporate income tax paid已付中国企业所得税(4,428)
Witholding tax on dividends paid已付股息预扣税(139)
Net cash generated from operating activities经营活动所得之现金净额30,303
Cash flows from investing activities投资活动现金流量
Interest received已收利息13,390
Purchase of property, plant and equipment购入物业、厂房及设备(41,713)
Proceds from disposal of property, plant and
equipment
出售物业、厂房及设备
所得款项1,345
Payments of non-curent deposits支付非流动按金(2,580)
Purchase of financial asets at fair value through
other comprehensive income
购入按公平值计入其他全面收
益的财务资产–
Proceds from disposal of financial asets at fair
value through other comprehensive income
出售按公平值计入其他全面收
益的财务资产之所得款项3,882
Proceds from disposal of financial asets at fair
value through profit or los
出售按公平值计入损益的财务
资产之所得款项725
Increase in time deposits with original maturity of
more than thre months
原定到期日超过三个月的
定期存款增加– 原定到期日超过三个月的定期存款增加
Net cash used in investing activities投资活动所用之现金净额(24,951)
Cash flows from financing activities融资活动现金流量
Principal elements of lease liabilities租赁负债之本金部分29(b)(7,508)
Interest portion of lease liabilities租赁负债之利息部分29(b)(332)
Dividends paid to the Company’s equity holders已付本公司股权持有人之股息29(b)(34,067)
Dividends paid to non-controling interests in a
subsidiary
已付附属公司非控制性权益之
股息–
Net cash used in financing activities融资活动所用之现金净额(41,907)
Net decrease in cash and cash equivalents现金及现金等价物减少净额(36,555)
Exchange diferences on cash and cash equivalents现金及现金等价物汇兑差额(7,399)
Cash and cash equivalents at begining of the year年初现金及现金等价物369,796
Cash and cash equivalents at end of the year年终现金及现金等价物14325,842
The above consolidated statement of cash flows should be read
in conjunction with the acompany notes.
上述综合现金流量表应与随附注一并阅读。
Notes to the Consolidated Financial Statements
综合财务报表附注
94Fujikon Industrial Holdings Limited Anual Report 2024/2025
1 General information
Fujikon Industrial Holdings Limited (the “Company”) and its subsidiaries
(together the “Group”) are principaly engaged in the design,
manufacturing, marketing and trading of electro-acoustic products,
acesories and other electronic products and property holding.
The Company is a limited liability company incorporated in Bermuda. The
adres of its registered ofice is Victoria Place, 5th Flor, 31 Victoria Stret,
Hamilton HM 10, Bermuda.
The Company is listed on the Main Board of The Stock Exchange of Hong
Kong Limited (the “Stock Exchange”).
These consolidated financial statements are presented in thousands of units
of Hong Kong dolars (HK$’000), unles otherwise stated.
2 Sumary of material acounting policies
This note provides a list of the material acounting policies adopted in
the preparation of these consolidated financial statements. These policies
have ben consistently aplied to al the years presented, unles otherwise
stated. The consolidated financial statements are for the Group consisting
of Fujikon Industrial Holdings Limited and its subsidiaries.
2.1 Basis of preparation
The consolidated financial statements have ben prepared in
acordance with HKFRS Acounting Standards and disclosure
requirements of the Hong Kong Companies Ordinance Cap. 622.
The consolidated financial statements have ben prepared under
the historical cost convention, as modified by the revaluation of
investment properties and financial asets at fair value through other
comprehensive income, which are caried at fair value.
The preparation of consolidated financial statements in conformity
with HKFRS Acounting Standards requires the use of certain critical
acounting estimates. It also requires management to exercise its
judgment in the proces of aplying the Group’s acounting policies.
The areas involving a higher degre of judgment or complexity,
or areas where asumptions and estimates are significant to the
consolidated financial statements, are disclosed in Note 4.
1 一般资料
富士高实业控股有限公司（「本公司」）及其附属
公司（统称「本集团」）主要从事设计、制造、推
广及销售电声产品、配件及其他电子产品以及
持有物业。
本公司为于百慕达注册成立之有限公司。其
注册办事处之地址为Victoria Place, 5th Flor, 31
Victoria Stret, Hamilton HM 10, Bermuda。
本公司于香港联合交易所有限公司（「联交所」）
主板上市。
除另有说明外，该等综合财务报表呈列之货币
单位为千港元（「千港元」）。
2 重大会计政策概要
本附注提供编制该等综合财务报表所采用的一
系列重大会计政策。除另有说明者外，该等政
策已于所有呈报年度贯彻采用。综合财务报表
为本集团（包括富士高实业控股有限公司及其
附属公司）编制。
2.1 编制基准
本综合财务报表乃根据香港财务报告会计
准则及香港公司条例第622章的披露规定
而编制。本综合财务报表以历史成本法编
制，并就投资物业及按公平值计入其他全
面收益的财务资产重估而作出修订，上述
各项均按公平值入账。
编制符合香港财务报告会计准则的综合财
务报表需要使用若干关键会计估算。这亦
需要管理层在应用本集团的会计政策过程
中行使其判断。涉及较高程度的判断或较
为复杂的范畴，或涉及对综合财务报表属
重大之假设和估算的范畴，在附注4中披
露。
Notes to the Consolidated Financial Statements
综合财务报表附注
95年报 2024/2025 富士高实业控股有限公司
2 重大会计政策概要（续）
2.1 编制基准（续）
(a) 本集团采纳之经修订准则及准则之
诠释
本集团于2024年4月1日开始之财政
年度首次采纳下列经修订准则及准
则之诠释：
采纳该等经修订准则及准则之诠释
对本集团当期、任何过往或未来期
间之综合财务报表并无任何重大影
响。
(b) 已颁布但尚未生效亦无获本集团提
早采纳之新订及经修订准则以及准
则之诠释（统称「修订本」）
以下修订本已颁布，惟于本集团
2024年4月1日或之后开始之财政年
度尚未生效且于编制该等综合财务
报表时未获提早采纳：
2 Sumary of material acounting policies (Continued)
2.1 Basis of preparation (Continued)
(a) Amendments and interpretations to standards adopted by
the Group
The folowing amendments and interpretations to standards
have ben adopted by the Group for the first time for its
financial year comencing on 1 April 2024:
HKAS 1 (Amendments)Clasification of liabilities as
curent or non-curent
香港会计准则第1号（修订本）流动或非流动负债之分类
HKAS 1 (Amendments)Non-curent liabilities with
covenants
香港会计准则第1号（修订本）附带契诺的非流动负债
HKAS 7 and HKFRS 7 (Amendments)Suplier 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
HKFRS 16 (Amendments)Lease 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
HK Int 5 (Revised)Presentation of financial
statements – clasification by
the borower of a term loan
that contains a repayment on
demand clause
香港诠释第5号（经修订）财务报表之呈列－借款人对载有按
要求偿还条文之定期贷款之分类
The adoption of these amendments and interpretations to
standards did not have any material impact on the Group’s
consolidated financial statements for the curent period or any
prior period and is not likely to afect future periods.
(b) New and amended standards and interpretation to
standards (colectively the “Amendments”) which have
ben isued but are not yet efective and not early
adopted by the Group
The folowing Amendments have ben isued, but are not
efective for the Group’s financial year begining on or after
1 April 2024 and have not ben early adopted in preparing
these consolidated financial statements:
Notes to the Consolidated Financial Statements
综合财务报表附注
96Fujikon Industrial Holdings Limited Anual Report 2024/2025
2 重大会计政策概要（续）
2.1 编制基准（续）
(b) 已颁布但尚未生效亦无获本集团提
早采纳之新订及经修订准则以及准
则之诠释（统称「修订本」）（续）
Efective for financial years begining on or after 1 January 2025
由2025年1月1日或之后开始之财政年度生效
Efective for financial years begining on or after 1 January 2026
由2026年1月1日或之后开始之财政年度生效
Efective for financial years begining on or after 1 January 2027
由2027年1月1日或之后开始之财政年度生效
No mandatory efective date yet determined
尚未厘定强制生效日期
2 Sumary of material acounting policies (Continued)
2.1 Basis of preparation (Continued)
(b) New and amended standards and interpretation to
standards (colectively the “Amendments”) which have
ben isued but are not yet efective and not early
adopted by the Group (Continued)
HKAS 21 and HKFRS 1 (Amendments)Lack of exchangeability
香港会计准则第21号及香港财务报告准则第1号（修订本）缺乏可交换性
HKFRS 9 and HKFRS 7 (Amendments)Amendments 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
HKFRS S1General requirements for
disclosure of sustainability-
related financial information
香港财务报告准则第S1号可持续相关财务资料披露一般要求
HKFRS S2 Climate-related disclosures
香港财务报告准则第S2号气候相关披露
HKFRS 10 and HKAS 28 (Amendments)Sale 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公司之
间之资产出售或投入
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号无需向公众负责的附属公司：披露
HK Int 5 Presentation of financial
statements – clasification by
the borower of a term loan
that contains a repayment on
demand clause
香港诠释第5号财务报表之呈列－借款人对载有按
要求偿还条文之定期贷款之分类
Amendments to HKFRS Acounting StandardsAnual improvements to HKFRS
Acounting Standards –
volume 11
香港财务报告会计准则（修订本）香港财务报告会计准则之年度改
进－第11卷
The Group is in the proces of making an asesment on the
impact of these Amendments upon initial aplication but is not
yet in a position to state whether these Amendments would
have any significant impact on its results of operations and
financial positions.
本集团现正评估该等修订本于首次
应用时带来的影响，惟现阶段尚未
能评论该等修订本会否对其经营业
绩及财务状况构成任何重大影响。
Notes to the Consolidated Financial Statements
综合财务报表附注
97年报 2024/2025 富士高实业控股有限公司
2 重大会计政策概要（续）
2.2 外币换算
(a) 功能货币和呈列货币
本集团每个实体之财务报表所列项
目均以该实体营运所在之主要经济
环境之货币（「功能货币」）计量。综
合财务报表以港元呈报，港元为本
公司之功能货币和本集团之呈列货
币。
(b) 交易及结余
外币交易采用交易日之汇率换算为
功能货币。结算此等交易产生之汇
兑收益及亏损以及以外币计值之货
币资产和负债按年终汇率换算所产
生之汇兑收益及亏损计入综合全面
收益表，惟在权益中递延入账的合
资格现金流对冲或合资格投资净额
对冲除外。
非货币财务资产及负债（例如按公平
值计入损益的权益）之汇兑差额均于
损益内确认为公平值收益或亏损之
一部分。非货币财务资产（例如分类
为按公平值计入其他全面收益的财
务资产之权益）之汇兑差额均会计入
其他全面收益内。
(c) 集团公司
所有功能货币与呈列货币不同之集
团实体（当中没有采用严重通货膨胀
经济体之货币）之业绩及财务状况均
按以下方法换算为呈列货币：
(i) 各财务状况表呈列之资产及负
债均以该财务状况表结算日之
收市汇率换算；
(i) 各全面收益表所呈报之收入及
支出均按平均汇率换算（除非
该平均汇率并不反映于交易日
通行汇率累计影响之合理近似
值，在此情况下收入及支出乃
于交易日进行换算）；及
(i) 所有由此产生之汇兑差额均于
其他全面收益确认。
2 Sumary of material acounting policies (Continued)
2.2 Foreign curency translation
(a) Functional and presentation curency
Items included in the financial statements of each of the
Group’s entities are measured using the curency of the primary
economic environment in which the entity operates (the
“functional curency”). The consolidated financial statements
are presented in Hong Kong dolars, which is the Company’s
functional and the Group’s presentation curency.
(b) Transactions and balances
Foreign curency transactions are translated into the functional
curency using the exchange rates prevailing at the dates of the
transactions. Foreign exchange gains and loses resulting from
the setlement of such transactions and from the translation
at year-end exchange rates of monetary asets and liabilities
denominated in foreign curencies are recognised in the
consolidated statement of comprehensive income, except when
defered in equity as qualifying cash flow hedges or qualifying
net investment hedges.
Translation diferences on non-monetary financial asets and
liabilities such as equities held at fair value through profit or
los are recognised in profit or los as part of the fair value
gain or los. Translation diferences on non-monetary financial
asets such as equities clasified as financial asets at fair value
through other comprehensive income, are included in other
comprehensive income.
(c) Group companies
The results and financial position of al the group entities (none
of which has the curency of a hyperinflationary economy) that
have a functional curency diferent from the presentation
curency are translated into the presentation curency as
folows:
(i) asets and liabilities for each statement of financial
position presented are translated at the closing rate at the
date of that statement of financial position;
(i) income and expenses for each statement of comprehensive
income presented are translated at average exchange rates
(unles this average rate is not a reasonable aproximation
of the cumulative efect of the rates prevailing on the
transaction dates, in which case income and expenses are
translated at the dates of the transactions); and
(i) al resulting exchange diferences are recognised in other
comprehensive income.
Notes to the Consolidated Financial Statements
综合财务报表附注
98Fujikon Industrial Holdings Limited Anual Report 2024/2025
2 重大会计政策概要（续）
2.2 外币换算（续）
(c) 集团公司（续）
收购境外实体时产生之商誉及公平
值调整乃作为该境外实体之资产及
负债处理，并以收市汇率换算。产
生的汇兑差额于其他全面收益确认。
(d) 出售境外业务及部分出售
于出售境外业务（即出售本集团于境
外业务之全部权益或导致失去对包
含境外业务之附属公司控制权的出
售、导致失去对包含境外业务之合
营公司共同控制权的出售，或导致
失去对包含境外业务之联营公司重
大影响力的出售）时，在权益内与该
项业务相关并归属于本公司拥有人
之所有累计汇兑差额，均重新分类
至综合全面收益表。
倘部分出售不会导致本集团失去对
包含境外业务之附属公司控制权，
该累计汇兑差额之应占比例为重新
归属予非控制性权益及不会于损益
确认。就所有其他部分出售（即本集
团于联营公司或合营公司之所有权
权益有所下降，惟不会导致本集团
失去重大影响力或共同控制权），累
计汇兑差额之应占比例则重新分类
至综合全面收益表。
2.3 物业、厂房及设备
所有物业、厂房及设备，在建工程除外，
按历史成本减累计折旧及累计减值亏损列
账。历史成本包括与购买项目直接相关的
费用。
其后开支只有在与该项目有关的未来经济
利益可能流入本集团，而该项目的成本能
可靠计量时，方计入资产的账面值或确认
为独立资产，如适用。所有其他维修及保
养费用于其产生的财政期间内于综合全面
收益表扣除。
2 Sumary of material acounting policies (Continued)
2.2 Foreign curency translation (Continued)
(c) Group companies (Continued)
Godwil and fair value adjustments arising on the acquisition
of a foreign entity are treated as asets and liabilities of the
foreign entity and translated at the closing rate. Curency
translation diferences arising are recognised in other
comprehensive income.
(d) Disposal of foreign operation and partial disposal
On the disposal of a foreign operation (that is, a disposal of
the Group’s entire interest in a foreign operation, or a disposal
involving los of control over a subsidiary that includes a
foreign operation, a disposal involving los of joint control over
a joint venture that includes a foreign operation, or a disposal
involving los of significant influence over an asociate that
includes a foreign operation), al of the curency translation
diferences acumulated in equity in respect of that operation
atributable to the owners of the Company are reclasified to
consolidated statement of comprehensive income.
In the case of a partial disposal that does not result in the
Group losing control over a subsidiary that includes a foreign
operation, the proportionate share of acumulated curency
translation diferences are re-atributed to non-controling
interests and are not recognised in profit or los. For al other
partial disposals (that is, reductions in the Group’s ownership
interest in asociates or joint ventures that do not result in
the Group losing significant influence or joint control) the
proportionate share of the acumulated exchange diference is
reclasified to consolidated statement of comprehensive income.
2.3 Property, plant and equipment
Al property, plant and equipment, other than construction-in-
progres, are stated at historical cost les acumulated depreciation
and acumulated impairment los. Historical cost includes expenditure
that is directly atributable to the acquisition of the items.
Subsequent costs are included in the aset’s carying amount or
recognised as a separate aset, as apropriate, only when it is
probable that future economic benefits asociated with the item wil
flow to the Group and the cost of the item can be measured reliably.
Al other repairs and maintenance are charged in the consolidated
statement of comprehensive income during the financial period in
which they are incured.
Notes to the Consolidated Financial Statements
综合财务报表附注
99年报 2024/2025 富士高实业控股有限公司
2 重大会计政策概要（续）
2.3 物业、厂房及设备（续）
物业、厂房及设备之折旧以直线法计算，
以按其估计可使用年期将成本分配至剩余
价值，折旧率如下：
楼宇及租赁物业装修2.5%至50%
机械及模具10%至50%
家私及设备20%至30%
汽车30%
资产的剩余价值及可使用年期在各报告期
间结束时进行检讨，及在适当时调整。
若资产的账面值高于其估计可收回金
额，其账面值即时撇减至可收回金额（附
注2.4）。
出售之收益及亏损乃按出售所得款项与其
账面值之差额计算，并于综合全面收益表
中之「其他（亏损）╱收益－净额」中确认。
在建工程（「在建工程」）指在建物业及厂
房，以成本减累计减值亏损（如有）列账。
成本包括建设及收购成本和资本化借贷成
本。有关资产完成及可供作拟定用途前，
不会就在建工程计提折旧拨备。当有关资
产可供使用时，成本转拨至物业、厂房及
设备相关类别，并按上述政策折旧。
2.4 非财务资产之减值
无特定使用期限的资产毋须作摊销处理，
但此等资产每年均须进行减值测试，或于
有事件或情况变化显示可能出现减值时更
频繁地进行减值测试。如有任何事件或情
况变化显示出现账面值无法收回时，本集
团将就其他资产进行减值测试。就资产账
面值超逾其可收回金额的数额确认为减值
亏损。可收回金额为资产公平值减出售
成本后的价值，与其使用价值之间的较高
者。为评估资产减值，资产按大致上独立
于其他资产或资产组别现金流入的独立可
识别现金流量的最低水平（现金产生单位）
划分。于每个报告日期，均会对曾出现减
值之非财务资产（商誉除外）作出评估，以
确定是否可能作出减值拨回。
2 Sumary of material acounting policies (Continued)
2.3 Property, plant and equipment (Continued)
Depreciation on property, plant and equipment is calculated using the
straight-line method to alocate their cost to their residual values over
their estimated useful lives, as folows:
Buildings and leasehold improvements2.5% to 50%
Machinery and moulds10% to 50%
Furniture and equipment20% to 30%
Motor vehicles30%
The asets’ residual values and useful lives are reviewed, and adjusted
if apropriate, at the end of each reporting period.
An aset’s carying amount is writen down imediately to its
recoverable amount if the aset’s carying amount is greater than its
estimated recoverable amount (Note 2.4).
Gains and loses on disposals are determined by comparing the
proceds with carying amount and are recognised within “other
(loses)/gains – net”, in the consolidated statement of comprehensive
income.
Construction-in-progres (the “CIP”) represents properties and plant
under construction and is stated at cost les acumulated impairment
loses, if any. Cost includes the costs of construction and acquisition
and capitalised borowing costs. No provision for depreciation is made
on CIP until such time as the relevant asets are completed and ready
for intended use. When the asets concerned are available for use, the
cost are transfered to relevant categories of properties, plant and
equipment and depreciated in acordance with the policy as stated
above.
2.4 Impairment of non-financial asets
Asets that have an indefinite useful life are not subject to
amortisation and are tested anualy for impairment, or more
frequently if events or changes in circumstances indicate that they
might be impaired. Other asets are tested for impairments whenever
events or changes in circumstances indicate that the carying amount
may not be recoverable. An impairment los is recognised for the
amount by which the aset’s carying amount exceds its recoverable
amount. The recoverable amount is the higher of an aset’s fair value
les costs of disposal and value in use. For the purposes of asesing
impairment, asets are grouped at the lowest levels for which there
are separately identifiable cash flows which are largely independent
of the cash inflow from other asets or group of asets (cash-generating
units). Non-financial asets other than godwil that sufered
impairment are reviewed for posible reversal of the impairment at
each reporting date.
Notes to the Consolidated Financial Statements
综合财务报表附注
100Fujikon Industrial Holdings Limited Anual Report 2024/2025
2 重大会计政策概要（续）
2.5 财务资产
(a) 分类
本集团将其财务资产按以下计量类
别分类︰
- （计入其他
全面收益（「其他全面收益」）或
计入损益）；及
- 。
该分类取决于实体管理财务资产及
现金流量合约期之业务模式。
就按公平值计量的资产而言，其收
益及亏损于损益或其他全面收益列
账。对于并非持作买卖的股本工具
投资，则取决于本集团是否于初始
确认时不可撤销地选择按公平值计
入其他全面收益（「按公平值计入其
他全面收益」）对权益投资列账。
仅当管理该等资产之业务模式发生
变动时，本集团方会对债务投资进
行重新分类。
(b) 确认及终止确认
投资之定期买卖在交易日（即本集团
承诺购入或出售该资产之日）确认。
当从财务资产收取现金流量之权利
已经届满或转让，以及本集团已将
拥有权之绝大部分风险及回报转让
时，则终止确认财务资产。
(c) 计量
于初步确认时，本集团按公平值加
上收购财务资产之直接应占交易成
本（如属并非按公平值计入损益（「按
公平值计入损益」）的财务资产）计量
有关财务资产。按公平值计入损益
列账的财务资产之交易成本于损益
支销。
确定具有嵌入衍生工具之财务资产
之现金流量是否仅为本金及利息之
付款时，需从财务资产之整体进行
考虑。
2 Sumary of material acounting policies (Continued)
2.5 Financial asets
(a) Clasification
The Group clasifies its financial asets in the folowing
measurement categories:
• those to be measured subsequently at fair value (either
through other comprehensive income (“OCI”) or through
profit or los); and
• those to be measured at amortised cost.
The clasification depends on the entity’s busines model for
managing the financial asets and the contractual terms of the
cash flows.
For asets measured at fair value, gains and loses wil either
be recorded in profit or los or OCI. For investments in equity
instruments that are not held for trading, this wil depend on
whether the Group has made an irevocable election at the time
of initial recognition to acount for the equity investment at
fair value through other comprehensive income (“FVOCI”).
The Group reclasifies debt investments when and only when its
busines model for managing those asets changes.
(b) Recognition and derecognition
Regular way purchases and sales of investments are recognised
on trade-date, the date on which the Group comits to
purchase or sel the aset. Financial asets are derecognised
when the rights to receive cash flows from the financial asets
have expired or have ben transfered and the Group has
transfered substantialy al risks and rewards of ownership.
(c) Measurement
At initial recognition, the Group measures a financial aset at
its fair value plus, in the case of a financial aset not at fair
value through profit or los (“FVPL”), transaction costs that are
directly atributable to the acquisition of the financial aset.
Transaction costs of financial asets caried at FVPL are expensed
in profit or los.
Financial asets with embeded derivatives are considered in
their entirety when determining whether their cash flows are
solely payment of principal and interest.
Notes to the Consolidated Financial Statements
综合财务报表附注
101年报 2024/2025 富士高实业控股有限公司
2 重大会计政策概要（续）
2.5 财务资产（续）
(c) 计量（续）
(i) 债务工具
债务工具之后续计量取决于本
集团管理资产之业务模式及该
资产之现金流量特征。本集团
将其债务工具分类为三种计量
类别:
- ：
持作收回合约现金流量之
资产，倘该等现金流量仅
指本金及利息之付款，则
按摊销成本计量。该等财
务资产之利息收入采用实
际利率法计入财务收入。
终止确认产生的任何收益
或亏损直接计入损益，并
与汇兑收益及亏损一并于
「其他（亏损）╱收益－净
额」内呈列。减值亏损于
综合全面收益表内作为单
独项目呈列。
• 按公平值计入其他全面收
益：
持作收回合约现金流量及
出售财务资产之资产，倘
该等资产现金流量仅指本
金及利息之付款，则按公
平值计入其他全面收益计
量。账面值之变动乃计入
其他全面收益，惟于损益
确认之减值收益或亏损、
利息收入及汇兑收益及亏
损除外。当财务资产终止
确认时，先前于其他全面
收益确认之累计收益或亏
损由权益重新分类至损
益并于「其他（亏损）╱收
益－净额」确认。该等财
务资产之利息收入乃按实
际利率法计入财务收入。
汇兑收益及亏损于「其他
（亏损）╱收益－净额」呈
列，而减值开支于综合全
面收益表内作为单独项目
呈列。
2 Sumary of material acounting policies (Continued)
2.5 Financial asets (Continued)
(c) Measurement (Continued)
(i) Debt instruments
Subsequent measurement of debt instruments depends on
the Group’s busines model for managing the aset and
the cash flow characteristics of the aset. There are thre
measurement categories into which the Group clasifies its
debt instruments:
- :
Asets that are held for colection of contractual
cash flows where those cash flows represent solely
payments of principal and interest are measured
at amortised cost. Interest income from these
financial asets is included in finance income using
the efective interest rate method. Any gain or
los arising on derecognition is recognised directly
in profit or los and presented in “other (loses)/
gains – net” together with foreign exchange gains
and loses. Impairment loses are presented as
separate line item in the consolidated statement of
comprehensive income.
- :
Asets that are held for colection of contractual
cash flows and for seling the financial asets, where
the asets’ cash flows represent solely payments
of principal and interest, are measured at FVOCI.
Movements in the carying amount are taken through
OCI, except for the recognition of impairment gains
or loses, interest income and foreign exchange
gains and loses which are recognised in profit or
los. When the financial aset is derecognised, the
cumulative gain or los previously recognised in
OCI is reclasified from equity to profit or los and
recognised in “other(loses)/gains – net”. Interest
income from these financial asets is included
in finance income using the efective interest
rate method. Foreign exchange gains and loses
are presented in “other(loses)/gains – net” and
impairment expenses are presented as separate line
item in the consolidated statement of comprehensive
income.
Notes to the Consolidated Financial Statements
综合财务报表附注
102Fujikon Industrial Holdings Limited Anual Report 2024/2025
2 重大会计政策概要（续）
2.5 财务资产（续）
(c) 计量（续）
(i) 股本工具
本集团其后按公平值计量所有
股本投资。倘本集团管理层已
选择在其他全面收益中呈列股
本投资之公平值收益或亏损，
则在终止确认有关投资后，随
后不会把公平值收益及亏损重
新分类至损益。有关投资之股
息于本集团确立收款权利后，
继续在损益确认为其他收入。
按公平值计入其他全面收益的
股本投资之减值亏损（及减值亏
损之拨回）不会与其他公平值变
动分开呈报。
(d) 减值
本集团按具有前瞻性之基准，评估
其按摊销成本及按公平值计入其他
全面收益之债务工具之相关预期信
贷亏损。所应用之减值方法取决于
信贷风险是否已大幅上升。就应收
货款及合约资产而言，本集团应用
香港财务报告准则第9号「金融工具」
（「香港财务报告准则第9号」）所允许
之简化处理方法，其规定预期全期
亏损须自初步确认应收款项起予以
确认，详情于附注13披露。
2.6 存货
存货以成本值及可变现净值两者的较低者
列账。成本值是以加权平均成本法计算
的。制成品及在制品的成本值包括设计费
用、原材料、直接工资、其他直接成本及
相关生产间接开支（根据正常营运能力计
算）。有关数额不包括借贷成本。可变现
净值为于日常业务过程内的估计售价扣除
适当的浮动销售支出计算。
2 Sumary of material acounting policies (Continued)
2.5 Financial asets (Continued)
(c) Measurement (Continued)
(i) Equity instruments
The Group subsequently measures al equity investments
at fair value. Where the Group’s management has
elected to present fair value gains and loses on equity
investments in OCI, there is no subsequent reclasification
of fair value gains and loses to profit or los folowing
the derecognition of the investment. Dividends from such
investments continue to be recognised in profit or los as
other income when the Group’s right to receive payments
is established.
Impairment loses (and reversal of impairment loses) on
equity investments measured at FVOCI are not reported
separately from other changes in fair value.
(d) Impairment
The Group aseses on a forward loking basis the expected
credit loses asociated with its debt instruments caried at
amortised cost and FVOCI. The impairment methodology aplied
depends on whether there has ben a significant increase
in credit risk. For trade receivables and contract asets, the
Group aplies the simplified aproach permited by HKFRS 9
“Financial instruments” (“HKFRS 9”), which requires expected
lifetime loses to be recognised from initial recognition of the
receivables, details are disclosed in Note 13.
2.6 Inventories
Inventories are stated at the lower of cost and net realisable value.
Cost is determined using the weighted average method. The cost
of finished gods and work in progres comprises design costs, raw
materials, direct labour, other direct costs and related production
overheads (based on normal operating capacity). It excludes borowing
costs. Net realisable value is the estimated seling price in the ordinary
course of busines, les aplicable variable seling expenses.
Notes to the Consolidated Financial Statements
综合财务报表附注
103年报 2024/2025 富士高实业控股有限公司
2 重大会计政策概要（续）
2.7 每股（亏损）╱盈利
(a) 每股基本（亏损）╱盈利
每股基本（亏损）╱盈利的计算方法
为：
- （亏损）╱溢
利（不包括支付普通股以外权益
的任何成本）；及
• 除以财政年度内已发行普通股
加权平均数计算，并就年内已
发行普通股（不包括库存股份）
的红利部分作出调整。
(b) 每股摊薄（亏损）╱盈利
每股摊薄（亏损）╱盈利调整用于厘
定每股基本盈利的数字，以计及：
- （亏损）╱溢
利（不包括支付普通股以外权益
的任何成本）；及
• 除以财政年度内已发行普通股
加权平均数计算，并就年内已
发行普通股（不包括库存股份）
的红利部分作出调整。
2.8 应收货款及其他应收款项
应收货款为在日常业务过程中就所出售商
品或所提供服务而应收客户之款项。倘应
收货款及其他应收款项之收回预期在一年
或以内（如仍在正常经营周期中，则可较
长时间），其被分类为流动资产；否则分
类为非流动资产。
应收货款于其按公平值确认时初步按无条
件代价金额予以确认，除非该等金额包括
重大融资部分。本集团持有应收货款旨在
收取合约现金流量，因此随后使用实际利
率法按摊销成本计量。本集团应收货款及
其他应收款项减值政策之会计处理于附注
2.5(d)披露。
2 Sumary of material acounting policies (Continued)
2.7 (Los)/earnings per share
(a) Basic (los)/earnings per share
Basic (los)/earnings per share is calculated by dividing:
- /profit atributable to owners of the Company,
excluding any costs of servicing equity other than ordinary
shares; and
• by the weighted average number of ordinary shares
outstanding during the financial year, adjusted for bonus
elements in ordinary shares isued during the year and
excluding treasury shares.
(b) Diluted (los)/earnings per share
Diluted (los)/earnings per share adjusts the figures used in the
determination of basic earnings per share to take into acount:
- /profit atributable to owners of the Company,
excluding any costs of servicing equity other than ordinary
shares; and
• by the weighted average number of ordinary shares
outstanding during the financial year, adjusted for bonus
elements in ordinary shares isued during the year and
excluding treasury shares.
2.8 Trade and other receivables
Trade receivables are amounts due from customers for merchandise
sold or services performed in the ordinary course of busines. If
colection of trade and other receivables is expected in one year or
les (or in the normal operating cycle of the busines if longer), they
are clasified as curent asets. If not, they are presented as non-
curent asets.
Trade receivables are recognised initialy at the amount of
consideration that is unconditional unles they contain significant
financing components, when they are recognised at fair value. The
Group holds the trade receivables with the objective to colect the
contractual cash flows and therefore measures them subsequently
at amortised cost using the efective interest method. The Group’s
acounting for trade and other receivables impairment policies are
disclosed in Note 2.5(d).
Notes to the Consolidated Financial Statements
综合财务报表附注
104Fujikon Industrial Holdings Limited Anual Report 2024/2025
2 重大会计政策概要（续）
2.9 现金及现金等价物
现金及现金等价物包括手头现金、银行通
知存款，以及于购入时三个月内到期并可
随时转换为已知金额现金且价值变动风险
不大之短期高流通量投资。就综合现金流
量表而言，需应要求偿还并属本集团现金
管理一部分之银行透支亦会计作现金及现
金等价物之部分。
2.10 当期及递延所得税
年内税项支出包括当期及递延税项。除非
税项与于其他全面收益或直接于权益确认
之项目有关，否则税项于损益中确认。在
此情况下，税项亦分别于其他全面收益或
直接于权益确认。
(a) 当期所得税
当期所得税支出根据本集团营运及
产生应课税收入的司法权区于报告
期间结束时已颁布或实质颁布的税
务法例计算。管理层就适用税务法
例诠释所规限的情况定期评估报税
表的状况，并考虑税务机关是否可
能接纳不确定的税务处理。本集团
根据最有可能的金额或预期价值计
量其税收余额，具体取决于哪种方
法可以更好地预测不确定性的解决
方法。
(b) 递延所得税
递延所得税采用负债法就资产及负
债的税基与其于综合财务报表之账
面值之间的暂时差异足额计提拨
备。然而，若递延税项负债是由
于初步确认商誉而产生，则不予确
认。倘递延所得税因初步确认业务
合并以外交易的资产或负债而产
生，且于交易时间对会计及应课税
溢利或亏损并无影响，则递延所得
税亦不会入账。递延所得税采用在
报告期间结束前已颁布或实质颁布
并预期于相关递延所得税资产变现
或递延所得税负债偿还时使用之税
率（及法例）厘定。
2 Sumary of material acounting policies (Continued)
2.9 Cash and cash equivalents
Cash and cash equivalents comprise cash on hand, deposits held
at cal with banks and short-term, highly liquid investments that
are readily convertible into known amounts of cash and which are
subject to an insignificant risk of changes in value, having ben
within thre months of maturity at acquisition. Bank overdrafts that
are repayable on demand and form an integral part of the Group’s
cash management are also included as a component of cash and cash
equivalents for the purpose of the consolidated statement of cash
flows.
2.10 Curent and defered income tax
The tax expense for the year comprises curent and defered tax. Tax
is recognised in profit or los, except to the extent that it relates to
items recognised in other comprehensive income or directly in equity.
In this case the tax is also recognised in other comprehensive income
or directly in equity, respectively.
(a) Curent income tax
The curent income tax charge is calculated on the basis of the
tax laws enacted or substantively enacted at the end of the
reporting period in the jurisdictions where the Group operates
and generates taxable income. Management periodicaly
evaluates positions taken in tax returns with respect to situations
in which aplicable tax regulation is subject to interpretation
and considers whether it is probable that a taxation authority
wil acept an uncertain tax treatment. The Group measures
its tax balances either based on the most likely amount or the
expected value, depending on which method provides a beter
prediction of the resolution of the uncertainty.
(b) Defered income tax
Defered income tax is provided in ful, using the liability
method, on temporary diferences arising betwen the tax
bases of asets and liabilities and their carying amounts in
the consolidated financial statements. However, defered
tax liabilities are not recognised if they arise from the initial
recognition of godwil. Defered income tax is also not
acounted for if it arises from initial recognition of an aset or
liability in a transaction other than a busines combination that
at the time of the transaction afects neither acounting nor
taxable profit or los. Defered income tax is determined using
tax rates (and laws) that have ben enacted or substantively
enacted by the end of the reporting period and are expected to
aply when the related defered income tax aset is realised or
the defered income tax liability is setled.
Notes to the Consolidated Financial Statements
综合财务报表附注
105年报 2024/2025 富士高实业控股有限公司
2 重大会计政策概要（续）
2.10 当期及递延所得税（续）
(b) 递延所得税（续）
递延税项资产仅在可能出现未来应
课税金额使该等暂时差异及亏损得
以动用时确认。
对于本公司能够控制暂时差异之拨
回时间且差异在可预见将来有可能
不会拨回的境外业务投资的账面值
与税基之间的暂时差异，不予确认
递延税项资产及负债。
倘有合法可执行权利将即期税项资
产与负债抵销，且递延税结余涉及
同一税务机关时，递延税项资产与
负债可互相抵销。倘实体拥有合
法可执行权利抵销且有意按净额基
准清偿或同时变现资产及清偿负债
时，则可将即期税项资产与负债互
相抵销。
即期税项与递延税项于损益内确
认，惟涉及在其他全面收益内或直
接于权益内确认之项目的情况除
外。在该种情况下，亦分别于其他
全面收益内或直接于权益内确认税
项。
2.11 雇员福利
(a) 退休金责任
本集团在香港及中国设有多项定额
供款计划。该等计划一般透过向保
险公司或托管人管理之基金付款提
供资金。定额供款计划为本集团据
此向独立实体作定额供款之退休金
计划。即使基金并无足够资产以向
所有雇员支付有关雇员现时及过往
期间服务之福利，本集团亦无法律
或推定责任作进一步供款。
就定额供款计划而言，本集团向公
营或私人管理退休保险计划作出强
制、合约性质或自愿供款。作出供
款后，本集团毋须作进一步供款承
担。该等供款会于到期支付时确认
为雇员福利开支。可提供现金退还
或扣减未来付款之预付供款会确认
为资产。
2 Sumary of material acounting policies (Continued)
2.10 Curent and defered income tax (Continued)
(b) Defered income tax (Continued)
Defered tax asets are recognised only if it is probable that
future taxable amounts wil be available to utilise those
temporary diferences and loses.
Defered tax asets and liabilities are not recognised for
temporary diferences betwen the carying amount and tax
bases of investments in foreign operations where the Company
is able to control the timing of the reversal of the temporary
diferences and it is probable that the diferences wil not
reverse in the foreseable future.
Defered tax asets and liabilities are ofset where there is
a legaly enforceable right to ofset curent tax asets and
liabilities and where the defered tax balances relate to the
same taxation authority. Curent tax asets and liabilities are
ofset where the entity has a legaly enforceable right to ofset
and intends either to setle on a net basis, or to realise the aset
and setle the liability simultaneously.
Curent and defered tax is recognised in profit or los, except
to the extent that it relates to items recognised in other
comprehensive income or directly in equity. In this case, the tax
is also recognised in other comprehensive income or directly in
equity, respectively.
2.11 Employe benefits
(a) Pension obligations
The Group operates a number of defined contribution
plans in Hong Kong and China. The schemes are generaly
funded through payments to insurance companies or truste-
administered funds. A defined contribution plan is a pension
plan under which the Group pays fixed contributions into
a separate entity. The Group has no legal or constructive
obligations to pay further contributions if the fund does not
hold suficient asets to pay al employes the benefits relating
to employe service in the curent and prior periods.
For defined contribution plans, the Group pays contributions
to publicly or privately administered pension insurance plans
on a mandatory, contractual or voluntary basis. The Group
has no further payment obligations once the contributions
have ben paid. The contributions are recognised as employe
benefit expense when they are due. Prepaid contributions are
recognised as an aset to the extent that a cash refund or a
reduction in the future payments is available.
Notes to the Consolidated Financial Statements
综合财务报表附注
106Fujikon Industrial Holdings Limited Anual Report 2024/2025
2 重大会计政策概要（续）
2.11 雇员福利（续）
(b) 以股权结算股份为基础付款之交易
本集团设有一项以股份为基础之薪
酬计划，据此，实体获得雇员提供
之服务，作为本集团权益工具（购股
权）之代价。就授出购股权而获提供
之雇员服务之公平值须确认为一项
支出。将于归属期内列作支出之总
金额乃参考所授购股权之公平值厘
定：
- （如一家
实体之股价）；
• 不包括任何服务或非市场表现
归属条件（如盈利能力、销售额
增长目标及雇员于特定期间内
留任实体）之影响；及
- （如规定雇
员储蓄）之影响。
于每个报告期间结束日，实体根据
非市场表现及服务条件调整对预计
将予归属之购股权数目所作估计，
并于综合全面收益表确认调整原来
估计（如有）所产生的影响，并相应
调整权益。
在行使购股权时所收取的款项扣除
任何直接应计交易成本后拨入股本
（面值）及股份溢价。
倘购股权于归属日期后被没收，或
于届满日仍未行使，则过往于购股
权储备确认之款项将转移至保留溢
利。
本公司向本集团旗下附属公司之雇
员授出其权益工具之购股权被视为
注资。所获得之雇员服务之公平值
乃参考授出日期之公平值计量，并
于归属期确认为增加对旗下附属公
司之投资，并相应计入母公司实体
账目之权益内。
2 Sumary of material acounting policies (Continued)
2.11 Employe benefits (Continued)
(b) Equity-setled share-based payment transactions
The Group operates a share-based compensation plan,
under which the entity receives services from employes as
consideration for equity instruments (options) of the Group.
The fair value of the employe services received in exchange for
the grant of the options is recognised as an expense. The total
amount to be expensed over the vesting period is determined
by reference to the fair value of the options granted:
- ,
an entity’s share price);
• excluding the impact of any service and non-market
performance vesting conditions (for example, profitability,
sales growth targets and remaining an employe of the
entity over a specified time period); and
• including the impact of any non-vesting conditions (for
example, the requirement for employes to save).
At the end of each reporting period, the entity revises its
estimates of the number of options that are expected to vest
based on the non-marketing performance and service conditions.
It recognises the impact of the revision to original estimates,
if any, in the consolidated statement of comprehensive income
with a coresponding adjustment to equity.
The proceds received net of any directly atributable
transaction costs are credited to share capital (nominal value)
and share premium when the options are exercised.
When the options are forfeited after the vesting date or are
stil not exercised at the expiry date, the amount previously
recognised in share options reserve wil be transfered to
retained earnings.
The grant by the Company of options over its equity instruments
to the employes of subsidiary undertakings in the Group is
treated as a capital contribution. The fair value of employe
services received, measured by reference to the grant date fair
value, is recognised over the vesting period as an increase to
investment in subsidiary undertakings, with a coresponding
credit to equity in the parent entity acounts.
Notes to the Consolidated Financial Statements
综合财务报表附注
107年报 2024/2025 富士高实业控股有限公司
2 重大会计政策概要（续）
2.11 雇员福利（续）
(c) 利润分享及花红计划
本集团根据一项公式（已计及于作
出若干调整后本公司股东之应占溢
利）就花红及利润分享确认负债及支
出。当负有合约上之责任或当以往
惯例造成推定性责任时，本集团须
确认拨备。
2.12 拨备
当本集团因已发生的事件而产生现有的法
律或推定责任；较可能需要有资源流出以
偿付责任；金额已经可靠估计，即会确认
拨备。
如有多项类似责任，会根据责任的类别整
体考虑是否可能需要在偿付中流出资源。
即使在同一责任类别所包含任何一个项目
的相关资源流出的可能性极低，仍须确认
拨备。
拨备以为履行义务所预计需要发生的支出
的现值计量，计算此等现值所使用的税前
折现率能够反映当前市场对货币时间价值
及该责任特有的风险的评估。时间流逝导
致拨备金额的增加，确认为利息支出。
2.13 收入确认
(a) 货品销售
当产品之控制权转移时（即将产品交
付予客户且概无可影响客户接纳产
品之未履行责任时），销售即获确
认。当产品运送到指定地点，产品
损毁及遗失之风险转嫁予客户，且
当客户按照销售合约接纳产品，或
接纳条款失效，或本集团有客观证
据证明所有接纳标准均已达成时，
交付方告完成。
该等销售之收益乃基于合约指定之
价格，经扣除折扣、退货及增值税
后确认。
2 Sumary of material acounting policies (Continued)
2.11 Employe benefits (Continued)
(c) Profit-sharing and bonus plans
The Group recognises a liability and an expense for bonuses and
profit-sharing, based on a formula that takes into consideration
the profit atributable to the Company’s shareholders after
certain adjustments. The Group recognises a provision where
contractualy obliged or where there is a past practice that has
created a constructive obligation.
2.12 Provisions
Provisions are recognised when the Group has a present legal or
constructive obligation as a result of past events; it is more likely
than not that an outflow of resources wil be required to setle the
obligation; and the amount has ben reliably estimated.
Where there are a number of similar obligations, the likelihod that
an outflow wil be required in setlement is determined by considering
the clas of obligations as a whole. A provision is recognised even if
the likelihod of an outflow with respect to any one item included in
the same clas of obligations may be smal.
Provisions are measured at the present value of the expenditures
expected to be required to setle the obligation using a pre-tax rate
that reflects curent market asesments of the time value of money
and the risks specific to the obligation. The increase in the provision
due to pasage of time is recognised as interest expense.
2.13 Revenue recognition
(a) Sales of merchandise
Sales are recognised when control of the products has
transfered, being when the products are delivered to the
customer, and there is no unfulfiled obligation that could
afect the customer’s aceptance of the products. Delivery ocurs
when the products have ben shiped to the specified location,
the risks of obsolescence and los have ben transfered to the
customer, and either the customer has acepted the products in
acordance with the sales contract, the aceptance provisions
have lapsed, or the Group has objective evidence that al criteria
for aceptance have ben satisfied.
Revenue from these sales is recognised based on the price
specified in the contract, net of discounts, returns and value
aded taxes.
Notes to the Consolidated Financial Statements
综合财务报表附注
108Fujikon Industrial Holdings Limited Anual Report 2024/2025
2 重大会计政策概要（续）
2.13 收入确认（续）
(a) 货品销售（续）
应收款项于产品交付时确认，因此
刻代价已为无条件，而于付款到期
前仅需等待一段时间。于年内，本
集团所有收益基本上于某一时间点
确认。
收取自客户之按金于产品交付前确
认为合约负债。
(b) 利息收入
利息收入乃按时间比例基准采用实
际利率法确认。
(c) 手续费收入
手续费收入于本集团已根据相关协
议之内容达成履行义务时确认。本
集团在此时间点开具发票及确认收
益。
(d) 租金收入
租金收入于提供租赁服务时随时间
确认。
2.14 合约资产及合约负债
本集团于根据合约所载付款条例有权无条
件收取代价前确认收益时，合约资产获确
认。合约资产根据附注3.1(b)所载政策就
预期信贷亏损进行评估，并于收取代价之
权利成为无条件时重新分类至应收款项。
当客户在本集团确认相关收益前支付代价
时，合约负债获确认。倘在本集团确认相
关收益前本集团拥有无条件收取代价之权
利，合约负债亦将获确认。于该等情况
下，相应收款项亦将获确认。就与客户
订立之单一合约而言，将呈列合约资产净
值或合约负债净额。就多份合约而言，非
相关合约之合约资产及合约负债并非按净
额基准呈列。
2 Sumary of material acounting policies (Continued)
2.13 Revenue recognition (Continued)
(a) Sales of merchandise (Continued)
A receivable is recognised when the products are delivered, as
this is the point in time that the consideration is unconditional
because only the pasage of time is required before the payment
is due. Substantialy al of the Group’s revenue are recognised at
a point in time during the year.
Deposits colected from the customers before product delivery
are recognised as contract liabilities.
(b) Interest income
Interest income is recognised on a time-proportion basis using
the efective interest method.
(c) Handling income
Handling income is recognised when the Group satisfied the
performance obligation in acordance with the substance of
relevant agrements. Invoices are generated and revenue is
recognised at that point in time.
(d) Rental income
Rental income is recognised over time as rental service is
rendered.
2.14 Contract asets and contract liabilities
A contract aset is recognised when the Group recognises revenue
before being unconditionaly entitled to the consideration under the
payment terms set out in the contract. Contract asets are asesed
for expected credit loses in acordance with the policy set out in
Note 3.1(b) and are reclasified to receivables when the right to the
consideration has become unconditional.
A contract liability is recognised when the customer pays consideration
before the Group recognises the related revenue. A contract liability
would also be recognised if the Group has an unconditional right
to receive consideration before the Group recognises the related
revenue. In such cases, a coresponding receivable would also be
recognised. For a single contract with the customer, either a net
contract aset or a net contract liability is presented. For multiple
contracts, contract asets and contract liabilities of unrelated contracts
are not presented on a net basis.
Notes to the Consolidated Financial Statements
综合财务报表附注
109年报 2024/2025 富士高实业控股有限公司
3 财务风险管理
3.1 财务风险因素
本集团之业务承受多种财务风险：市场风
险（包括外汇风险、价格风险以及现金流
及公平值利率风险）、信贷风险及流动性
风险。本集团之整体风险管理政策集中于
难以预测之金融市场，并致力于将对本集
团财务表现造成之潜在不利影响减至最
低。董事会审阅并同意管理各项该等风险
之政策，有关政策之摘要如下。
(a) 市场风险
(i) 外汇风险
本集团主要于香港及中国经营
业务，交易主要以港元（「港
元」）、人民币（「人民币」）及美
元（「美元」）结算。本集团所承
担之外汇风险主要来自未来商
业交易及确认以集团实体相关
功能货币以外之货币计值之资
产及负债。
为降低外汇风险，本集团一直严
密监控其外汇风险及要求并于必
要时安排订立外汇远期合约。于
2025年及2024年3月31日，本集
团并无未到期外汇远期合约。
于2025年3月31日，倘港元╱
美元兑人民币下跌╱上升5%
（2024：5%），在所有其他变
数保持不变之情况下，本年
度之除税后溢利将减少╱增
加约4,155,000港元（2024：
2,007,000港元），主要由于换
算香港附属公司人民币计值货
币资产净值及中国附属公司港
元╱美元计值货币资产净值之
汇兑亏损╱收益净额所致。
3 Financial risk management
3.1 Financial risk factors
The Group’s activities expose it to a variety of financial risks: market
risk (including foreign exchange risk, price risk and cash flow and
fair value interest rate risk), credit risk and liquidity risk. The Group’s
overal risk management policy focuses on the unpredictability of
financial markets and seks to minimise potential adverse efects on
the Group’s financial performance. The Board of Directors reviews
and agres policies for managing each of these risks and they are
sumarised below.
(a) Market risk
(i) Foreign exchange risk
The Group mainly operates in Hong Kong and China
with transactions mainly setled in Hong Kong dolars
(“HKD”), Renminbi (“RMB”) and US dolars (“USD”). The
Group is mainly exposed to foreign exchange risk arising
from future comercial transactions, recognised asets
and liabilities denominated in curencies other than the
functional curency of the group entities to which they
relate.
In order to mitigate the foreign curency risk, the Group
has ben closely monitoring its foreign curency exposure
and requirements and wil arange for any foreign
exchange forward contracts if necesary. There was no
outstanding foreign exchange forward contract as at 31
March 2025 and 2024.
At 31 March 2025, if HKD/USD had weakened/strengthened
by 5% (2024: 5%) against RMB with al other variables
held constant, post-tax profit for the year would have
ben aproximately HK$4,155,000 (2024: HK$2,007,000)
lower/higher, mainly as a result of net foreign exchange
loses/gains on translation of RMB-denominated net
monetary asets of subsidiaries in Hong Kong and HKD/
USD-denominated net monetary asets of subsidiaries in
China.
Notes to the Consolidated Financial Statements
综合财务报表附注
110Fujikon Industrial Holdings Limited Anual Report 2024/2025
3 财务风险管理（续）
3.1 财务风险因素（续）
(a) 市场风险（续）
(i) 价格风险
本集团之企业债券及利率挂钩
票据较易受到市场价格风险所
影响，而该等风险则由于与该等
可按公平值计入其他全面收益的
财务资产之未来价格有关之不
确定因素而产生。管理层透过维
持由不同风险项目组成之投资组
合管理本项风险。管理层认为，
本集团须承受之企业债券及利率
挂钩票据之价格风险并非重大。
(i) 现金流及公平值利率风险
除若干银行存款外，本集团并
无重大计息资产及负债。而本
集团之收入及经营现金流大体
上独立于市场利率变动。
本集团一般不会使用金融衍生
工具对冲利率风险。
管理层预期计息资产之利率变
动将不会引起重大影响。
(b) 信贷风险
(i) 风险管理
本集团财务资产（主要包括现金
及现金等价物、原定到期日超
过三个月的定期存款、应收货
款、合约资产、其他应收款项
以及按公平值计入其他全面收
益的财务资产）之信贷风险来自
对手方潜在违约，最高风险相
等于该等工具之账面值。
于2025年及2024年3月31日，
本集团绝大部分现金及银行存
款以及原定到期日超过三个月
的定期存款存放在位于香港及
中国之主要金融机构，管理层
认为该等金融机构具有高信用
质素。管理层预期不会因该等
对手方违约而产生任何亏损。
3 Financial risk management (Continued)
3.1 Financial risk factors (Continued)
(a) Market risk (Continued)
(i) Price risk
The Group’s corporate bonds and interest rate linked
notes are susceptible to market price risk arising from
uncertainties about future prices of those financial
asets at FVOCI. Management manages this exposure by
maintaining a portfolio of investments with diferent risk
profiles. Management considered that the exposure of
corporate bonds and interest rate linked notes to price
risk is not significant.
(i) Cash flow and fair value interest rate risk
The Group has no significant interest-bearing asets and
liabilities except for certain bank deposits, the Group’s
income and operating cash flows are substantialy
independent of changes in market interest rates.
The Group generaly does not use financial derivatives to
hedge its exposure to interest rate risk.
Management does not anticipate significant impact
resulted from the changes in interest rates on interest-
bearing asets.
(b) Credit risk
(i) Risk management
The credit risk of the Group’s financial asets, which
mainly comprise cash and cash equivalents, time deposits
with original maturity of more than thre months,
trade receivables, contract asets, other receivables and
financial asets at FVOCI, arises from potential default of
the counterparties, with maximum exposure equal to the
carying amounts of these instruments.
At 31 March 2025 and 2024, substantialy al cash and
bank deposits and time deposits with original maturity
of more than thre months are placed with major
financial institutions located in Hong Kong and China
which management believes are of high credit quality.
Management does not expect any loses arising from non-
performance by these counterparties.
Notes to the Consolidated Financial Statements
综合财务报表附注
111年报 2024/2025 富士高实业控股有限公司
3 财务风险管理（续）
3.1 财务风险因素（续）
(b) 信贷风险（续）
(i) 风险管理（续）
应收款项之信贷风险由信贷评
估流程管理，其包括评估现有
及潜在客户之信贷状况，以厘
定将授予之信贷额度、信贷政
策、信贷控制及收款程序。本
集团监控付款以符合信贷条款。
按公平值计入其他全面收益的
信贷风险被认为并不重大。
(i) 财务资产之减值
应收货款及合约资产
本集团采用香港财务报告准则
第9号简化方法计量所有应收
货款及合约资产之预期信贷亏
损，其使用全期预期亏损作拨
备。
为计量预期信贷亏损，应收货
款及合约资产已根据类似风险
特点分类，共同或个别地评估
应收货款及合约资产之收回可
能性。合约资产之风险特点与
同类合约之应收货款大致相
同。因此，本集团确定，应收
货款之预期亏损率与合约资产
之亏损率合理地相若。
• 按个别基准计量预期信贷
亏损
就存在客观证据显示债务
人面临重大财务困难或进
行清算的账户的相关应
收货款而言，有关款项会
单独进行减值拨备评估。
因此，于2025年3月31日作
出亏损拨备2,167,000港元
（2024：2,217,000港元）。
3 Financial risk management (Continued)
3.1 Financial risk factors (Continued)
(b) Credit risk (Continued)
(i) Risk management (Continued)
The credit risk of debtors is managed by a credit
evaluation proces which includes asesment and
evaluation of existing and potential customers’ credit
standing to determine the credit limits to be granted,
credit policies, credit control and colection procedures.
Payments are monitored for compliance with credit terms.
Credit risk of FVOCI was considered minimal.
(i) Impairment of financial asets
Trade receivables and contract asets
The Group aplies the HKFRS 9 simplified aproach to
measuring expected credit loses which uses a lifetime
expected los alowance for al trade receivables and
contract asets.
To measure the expected credit loses, trade receivables
and contract asets have ben grouped based on similar
risk characteristics and, colectively or individualy,
asesing them for likelihod of recovery. The contract
asets have substantialy the same risk characteristics as
the trade receivables for the same types of contracts. The
Group has therefore concluded that the expected los
rates for trade receivables are a reasonable aproximation
of the los rates for the contract asets.
• Measurement of expected credit los on individual
basis
For trade receivables relating to acounts in which
there are objective evidence that the debtor
faces significant financial dificulties or enter
liquidation, they are asesed individualy for
impairment alowance. Acordingly, los alowance
of HK$2,167,000 was made as at 31 March 2025 (2024:
HK$2,217,000).
Notes to the Consolidated Financial Statements
综合财务报表附注
112Fujikon Industrial Holdings Limited Anual Report 2024/2025
3 财务风险管理（续）
3.1 财务风险因素（续）
(b) 信贷风险（续）
(i) 财务资产之减值（续）
• 按集体基准计量预期信贷
亏损
本集团根据共享信贷风险
特点及逾期天数分类其应
收货款及合约资产，惟
个别评估者除外。预期亏
损率乃分别以2025年及
2024年3月31日前42个月
期间之销售付款概况及该
期间之相应过往信贷亏损
为基准。过往亏损率已作
调整，以反映对客户结付
应收款项及合约资产能力
有影响之宏观经济因素之
现时及前瞻性资料。
截至2025年3月31日止年度，
应收货款约169,745,000港元
（2024：285,564,000港元）
来自五名（2024：五名）客户，
分别约81,558,000港元、
37,015,000港元、28,571,000港元、
13,709,000港元及8,892,000港元，
各自占本集团应收货款总额
5%以上。
应收货款减值亏损于损益
中单独列示。当应收货款
不可收回，则于应收货款
拨备账撇销。其后追回的
先前已撇销款项计入同一
明细项目。
于2025年及2024年3月31日
，应收货款亏损拨备厘定
为并不重大。
3 Financial risk management (Continued)
3.1 Financial risk factors (Continued)
(b) Credit risk (Continued)
(i) Impairment of financial asets (Continued)
• Measurement of expected credit los on colective
basis
The Group categorises its trade receivables and
contract asets, except those individualy asesed,
based on shared credit risk characteristics and the
days past due. The expected los rates are based on
the payment profiles of sales over a period of 42
months before 31 March 2025 and 2024 respectively
and the coresponding historical credit loses
experienced within this period. The historical los
rates are adjusted to reflect curent and forward-
loking information on macroeconomic factors
afecting the ability of the customers to setle the
receivables and contract asets.
For the year ended 31 March 2025, trade
receivables of aproximately HK$169,745,000
(2024: HK$285,564,000) were derived from five
(2024: five) customers, amounting to aproximately
HK$81,558,000, HK$37,015,000, HK$28,571,000,
HK$13,709,000 and HK$8,892,000 respectively, which
individualy acounted for over 5% of the Group’s
total trade receivables.
Impairment loses on trade receivables are presented
as a separate line in the profit or los. When a
trade receivable is uncolectible, it is writen of
against the alowance acount for trade receivables.
Subsequent recoveries of amounts previously writen
of are credited against the same line item.
As at 31 March 2025 and 2024, the los alowance for
trade receivables is determined as insignificant.
Notes to the Consolidated Financial Statements
综合财务报表附注
113年报 2024/2025 富士高实业控股有限公司
3 财务风险管理（续）
3.1 财务风险因素（续）
(b) 信贷风险（续）
(i) 财务资产之减值（续）
债务工具
实体之所有按公平值计入其他
全面收益之债务工具被视为具
低信贷风险。倘债务工具之违
约风险低而发行人拥有强大能
力在短期内履行其合约现金流
量义务，则有关工具被视为低
信贷风险工具。
按摊销成本列账之其他财务资
产
其他应收款项之信贷质素乃经
参考有关对手方违约率及对手
方财务状况之过往资料后评
估。董事认为，鉴于应收彼等
款项之良好收款记录，故其他
应收款项之信贷风险较低。因
此，其他应收款项之预期信贷
亏损率评估接近为零，故截至
2025年3月31日并无计提拨备。
(c) 流动性风险
审慎的流动性风险管理指维持充足
的现金及可买卖证券，透过已承诺
信贷融资之足够额度备有资金，和
有能力结算市场持仓。基于相关业
务之活跃多变性质，故本集团致力
透过已承诺的可用信贷额度维持资
金的灵活性。
本集团透过维持本集团整体资产、
负债、贷款及承担之流动资金架构
之审慎比率，计量及监控其流动资
金。本集团亦将流动资产及已承诺
的银行信贷额度保持于稳健水平，
以确保有足够现金流应付任何日常
业务过程中突如其来及重大之现
金需要。于2025年3月31日，本
集团之未动用已承诺的银行信贷
额度为162,000,000港元（2024：
160,600,000港元）。
3 Financial risk management (Continued)
3.1 Financial risk factors (Continued)
(b) Credit risk (Continued)
(i) Impairment of financial asets (Continued)
Debt instruments
Al of the entity’s debt instruments at FVOCI are
considered to have low credit risk. Instruments are
considered to be low credit risk when they have a low risk
of default and the isuer has a strong capacity to met its
contractual cash flow obligations in the near term.
Other financial asets at amortised cost
The credit quality of other receivables has ben asesed
with reference to historical information about the
counterparties’ default rates and financial position of the
counterparties. The directors are of the opinion that the
credit risk of other receivables is low due to the sound
colection history of the receivables due from them.
Therefore, expected credit los rate of other receivables is
asesed to be close to zero and no provision was made as
of 31 March 2025.
(c) Liquidity risk
Prudent liquidity risk management implies maintaining suficient
cash and marketable securities, the availability of funding
through an adequate amount of comited credit facilities
and the ability to close out market positions. Due to the
dynamic nature of the underlying busineses, the Group aims to
maintain flexibility in funding by keping comited credit lines
available.
The Group measures and monitors its liquidity through the
maintenance of prudent ratio regarding to the liquidity
structure of the overal asets, liabilities, loans and comitments
of the Group. The Group also maintains a healthy level of
liquid asets and comited banking facilities to ensure the
availability of suficient cash flows to met any unexpected and
material cash requirements in the ordinary course of busines.
At 31 March 2025, the Group has unutilised comited banking
facilities of HK$162,000,000 (2024: HK$160,600,000).
| 170,674 | – | – | 170,674 |
|---|---|---|---|
| 7,728 | 3,927 | 447 | 12,102 |
| 178,402 | 3,927 | 447 | 182,776 |
Notes to the Consolidated Financial Statements
综合财务报表附注
114Fujikon Industrial Holdings Limited Anual Report 2024/2025
3 财务风险管理（续）
3.1 财务风险因素（续）
(c) 流动性风险（续）
下表对将本集团之财务负债按报告
期间结束日至合约到期日之余下期
间分类至相关到期日组别作出分
析。表中所披露金额为合约未贴现
现金流量。
3.2 资本风险管理
本集团管理其资本，以保障本集团有能力
持续经营，为股东提供回报及为其他利益
相关人士提供利益，维持最佳资本结构以
降低资本成本。
为维持或调整资本结构，本集团或会调整
派予股东之股息金额，将资本发还股东或
发行新股以减少债项。
本集团以总权益，包括股本、其他储备及
保留溢利为基准监察资本。
于2025年及2024年3月31日，本集团处
于净现金状况。
3 Financial risk management (Continued)
3.1 Financial risk factors (Continued)
(c) Liquidity risk (Continued)
The table below analyses the Group’s financial liabilities into
relevant maturity groupings based on the remaining periods
of which at the end of the reporting period to the contractual
maturity date. The amounts disclosed in the table are the
contractual undiscounted cash flows.
Within
1 year1-2 years2-5 yearsTotal
1年内1至2年2至5年总计
HK$’000HK$’000HK$’000HK$’000
At 31 March 2025于2025年3月31日
Trade and other payables应付货款及其他应付
款项
Lease liabilities租赁负债
At 31 March 2024于2024年3月31日
Trade and other payables应付货款及其他应付
款项135,160–135,160
Lease liabilities租赁负债4,1706521,0495,871
139,3306521,049141,031
3.2 Capital risk management
The Group’s objectives when managing capital are to safeguard the
Group’s ability to continue as a going concern in order to provide
returns for shareholders and benefits for other stakeholders and to
maintain an optimal capital structure to reduce the cost of capital.
In order to maintain or adjust the capital structure, the Group may
adjust the amount of dividends paid to shareholders, return capital to
shareholders or isue new shares to reduce debt.
The Group monitors capital on the basis of total equity, including
share capital, other reserves and retained earnings.
As at 31 March 2025 and 2024, the Group was at the net cash
position.
Notes to the Consolidated Financial Statements
综合财务报表附注
115年报 2024/2025 富士高实业控股有限公司
3 财务风险管理（续）
3.3 公平值估计
根据会计准则，本集团资产及负债之公平
值分类为3级公平值计量层级，有关披露
如下：
第1级 － 相同资产或负债在活跃市场的
报价（未经调整）。
第2级 － 资产或负债之输入值（并非包括
于第1级内之报价），惟可直接
（价格）或间接（自价格引申）经
观察得出。
第3级 － 资产或负债之输入值，并非依
据可观察之市场数据（即无法观
察之输入值）。
下表呈列本集团于2025年3月31日按公平
值计量之财务资产。
3 Financial risk management (Continued)
3.3 Fair value estimation
The fair value of the Group’s asets and liabilities are clasified into 3
levels of the fair value measurement hierarchy prescribed under the
acounting standards and disclosed as below:
Level 1 – Quoted prices (unadjusted) in active markets for identical
asets or liabilities.
Level 2 – Inputs other than quoted prices included within Level 1
that are observable for the aset or liability, either directly
(that is, as prices) or indirectly (that is, derived from
prices).
Level 3 – Inputs for the aset or liability that are not based on
observable market data (that is, unobservable inputs).
The folowing table presents the Group’s financial asets that are
measured at fair value at 31 March 2025.
Level 1Level 2Level 3Total
第1级第2级第3级总计
HK$’000HK$’000HK$’000HK$’000
Asets资产
Financial asets at FVOCI按公平值计入其他全面
收益的财务资产
– Debt instruments－债务工具–9,387–9,387
The Group did not have financial asets that are measured at fair
value at 31 March 2024.
The fair value of financial instruments traded in active markets (such
as publicly traded derivatives, and equity securities) is based on
quoted market prices at the statement of financial position date. The
quoted market price used for financial asets held by the Group is the
curent bid price.
The fair value of financial instruments that are not traded in an active
market (for example, over-the-counter derivatives) is determined
by using valuation techniques. The Group uses a variety of methods
and makes asumptions that are based on market conditions existing
at the end of the reporting period. Quoted market prices or dealer
quotes for similar instruments are used for long-term debt. Other
techniques, such as estimated discounted cash flows, are used to
determine fair value for the remaining financial instruments.
There was no transfer of financial asets betwen Level 1 and Level 2
during the year.
于2024年3月31日，本集团并无按公平值
计量的财务资产。
于活跃市场买卖之金融工具（如公开买卖
之衍生工具及股票证券）之公平值为财务
状况表结算日的市场报价。本集团所持财
务资产所用之市场报价为当时买入价。
非于活跃市场买卖之金融工具（例如场外
衍生工具）之公平值乃使用估值技术厘
定。本集团使用多种方法，并基于报告期
末存在之市况作出假设。长期债项乃使用
类似金融工具市价报价或交易商报价。厘
定其余金融工具公平值时则使用其他技
术，例如估计贴现金流量。
本年度第1级与第2级财务资产之间并无
转移。
Notes to the Consolidated Financial Statements
综合财务报表附注
116Fujikon Industrial Holdings Limited Anual Report 2024/2025
4 重大会计估计及判断
本集团就未来作出估计及假设。依据定义，产
生的会计估计未必与有关实际结果相同。于下
一财政年度有重大风险造成资产与负债账面值
重大调整的估计及假设于下文阐述。
(a) 存货拨备之估计
本集团根据存货变现性之评估作出存货拨
备。一旦事件发生或情况改变显示存货之
账面值可能未能变现时确认拨备。识别拨
备需要作出判断及估计。当预期之金额与
原定估计有差异时，则该差异将会于估计
改变之期间内，分别影响存货之账面值及
存货之拨备。
(b) 应收货款亏损拨备之估计
应收货款之亏损拨备按违约风险及预期亏
损率之假设厘定。于各报告期末，本集团
在作出该等假设及选择减值计算的输入数
据时，根据本集团之过往记录、现行市况
及前瞻性估计运用判断。有关重要假设及
输入数据的详情载于附注3.1(b)。
(c) 非财务资产减值
一旦事件发生或情况有变而显示非财务资
产，包括物业、厂房及设备，使用权资产
及无形资产的账面值可能不可收回时，管
理层复审资产有否减值。可收回金额根据
使用价值计算或公平值减去销售成本（以
较高者为准）厘定。这些计算需运用判断
及估算。
4 Critical acounting estimates and judgments
The Group makes estimates and asumptions concerning the future. The
resulting acounting estimates wil, by definition, seldom equal the related
actual results. The estimates and asumptions that have a significant risk
of causing a material adjustment to the carying amounts of asets and
liabilities within the next financial year are discused below.
(a) Estimated provision for inventories
The Group makes provision for inventories based on an asesment
of the realisability of inventories. Provisions are recognised where
events or changes in circumstances indicate that the carying value
of inventories may not be realised. The identification of provision
requires the use of judgment and estimates. Where the expectation
is diferent from the original estimate, such diference wil impact
the carying value of inventories and provision for inventories in the
period in which such estimate has ben changed.
(b) Estimated los alowance for trade receivables
The los alowances for trade receivables are based on asumptions
about risk of default and expected los rates. The Group uses
judgment in making these asumptions and selecting the inputs to the
impairment calculation, based on the Group’s past history, existing
market conditions as wel as forward loking estimates at the end of
each reporting period. Details of the key asumptions and inputs used
are disclosed in Note 3.1(b).
(c) Impairment of non-financial asets
Non-financial asets including property, plant and equipment, right-
of-use asets and intangible aset are reviewed for impairment
whenever events or changes in circumstances indicate that the
carying amount may not be recoverable. The recoverable amounts
have ben determined based on value-in-use calculations or fair value
les costs to sel whichever is the higher. These calculations require
the use of judgments and estimates.
Notes to the Consolidated Financial Statements
综合财务报表附注
117年报 2024/2025 富士高实业控股有限公司
4 重大会计估计及判断（续）
(c) 非财务资产减值（续）
资产减值评估需要管理层判断，特别是
评估：(i)是否有事件发生显示有关资
产价值可能不可收回；(i)是否资产账
面值少于可收回金额，即公平值减去销
售成本及基于业务上继续使用资产而估
算将来产生现金流的现时净价值，取两
者较高者；及(i)是否编制现金流预测
时采用适当的重要假设，包括使用适当
的折现率。减值评估中管理层所选用假
设之变更，包括现金流预测的折现率或
增长率假设，可重大地影响减值评估中
的现时净价值，因而影响本集团的财务
状况及营运业绩。倘若预测表现及导
致的日后现金流预测有重大不利的改
变，可能需在综合全面收益表列支减值
亏损。
(d) 所得税
本集团于多个司法权区须缴付所得税。于
厘定各地之所得税拨备时须作出重大判
断。日常业务运作中有大量最终税项计算
尚未确定的交易及计算。倘有关事宜之最
终评税结果有异于最初记录之数额，则有
关差额会影响到厘定有关数额之期间之所
得税及递延税项拨备。
与暂时差异及税项亏损有关之递延所得税
资产按管理层预期未来有可能出现应课税
溢利用作抵销该等暂时差异或税项亏损时
确认。当预期之金额与原定估计有差异
时，则该等差异将会于估计改变之期间内
影响递延所得税资产之确认。
就若干附属公司之未汇返盈利应缴之预扣
税须根据管理层之评估计提拨备，有关估
计为本公司控制该等附属公司的股息政
策。
(e) 保证拨备之估计
根据买卖协议，本集团通常会向客户提供
产品保证。客户将需于客户知悉或应当知
悉产品瑕疵后作出保证索赔。管理层通过
评估买卖协议之条款及其适用性，并参考
法律诠释（倘必要）后，对于产品保证是否
会引致潜在责任作出判断。
4 Critical acounting estimates and judgments (Continued)
(c) Impairment of non-financial asets (Continued)
Management judgment is required in aset impairment review
particularly in asesing: (i) whether an event has ocured that may
indicate that the related aset values may not be recoverable; (i)
whether the carying value of an aset is les than the recoverable
amount, being the higher of fair value les costs to sel and net
present value of future cash flows which are estimated based upon
the continued use of the aset in the busines; and (i) whether
apropriate key asumptions are aplied in preparing cash flow
projections including using an apropriate discount rate. Changing the
asumptions selected by management in the impairment asesment,
including the discount rates or the growth rate asumptions in
the cash flow projections, could materialy afect the net present
value used in the impairment test and as a result afect the Group’s
financial position and results of operations. If there is a significant
adverse change in the projected performance and resulting future
cash flow projections, it may be necesary to charge an impairment
los to the consolidated statement of comprehensive income.
(d) Income taxes
The Group is subject to income taxes in various jurisdictions.
Significant judgment is required in determining the provision for
income taxes. There are many transactions and calculations for which
the ultimate tax determination is uncertain during the ordinary course
of busines. Where the final tax outcome of these maters is diferent
from the amounts that were initialy recorded, such diferences wil
impact the income tax and defered tax provisions in the period in
which such determination is made.
Defered income tax asets relating to temporary diferences and tax
loses are recognised when management expects it is probable that
future taxable profits wil be available to utilise against the temporary
diferences or tax loses. Where the expectations are diferent from
the original estimates, such diferences wil impact the recognition of
defered income tax asets in the period in which such estimates have
ben changed.
Provision for witholding tax that would be payable on the
unremited earnings of certain subsidiaries is subject to management’s
estimates that the Company controls the dividend policies of these
subsidiaries.
(e) Estimation of provision for waranty
The Group generaly ofers waranties to its customers for its products
under the sales and purchase agrements. Customers would ned
to make the waranty claim after the customers become or ought
to become aware of the defect. Management made judgment as to
whether there is potential liability arising from product waranty by
asesing the terms in the sales and purchase agrement and their
aplication, with reference to legal interpretation, if necesary.
| 2025 | 2025 | 2025 | 2025 | |||
|---|---|---|---|---|---|---|
| HK$’000 | HK$’000 | HK$’000 | HK$’000 | |||
| 649,191 – | 343,330 15,182 | – (15,182) | ||||
| 526,511 | 399,049 | – | 925,560 | |||
| – | 11,657 | (11,657) | – | |||
| 649,191 | 358,512 | (15,182) | ||||
| 526,511 | 410,706 | (11,657) | 925,560 | |||
| (10,715) | 57,231 | – | ||||
| (66,382) | 90,124 | – | 23,742 | |||
| (6,695) | ||||||
| 119 | ||||||
| 12,291 | ||||||
| 29,457 | ||||||
| 13,998 | 7,243 | – | 21,241 | |||
| 1,614 | 5,958 | – | 7,572 | |||
| 5 | – | – | 5 | |||
| (15,361) | (254) | – | (15,615) | |||
| – | (32) | – | (32) | |||
| 33,308 | 14,955 | – | 48,263 | |||
Notes to the Consolidated Financial Statements
综合财务报表附注
118Fujikon Industrial Holdings Limited Anual Report 2024/2025
5 分部资料
主要营运决策人（「主要营运决策人」）已被厘定
为执行董事。主要营运决策人负责审阅本集团
之内部报告以评估业绩表现并据此分配资源。
管理层已根据该等报告厘定营运分部。
主要营运决策人从产品角度（即戴咪耳机及音
响耳机与配件及零件）评估业务表现。
主要营运决策人根据分部业绩评估营运分部之
表现，该分部业绩并不包括企业支出、其他收
益及亏损、融资收入及成本。
分部间收入乃根据订约双方一致协定之条款进
行。外界收入均来自若干外界客户及按与综合
全面收益表一致之方式计量。
5 Segment information
The chief operating decision-maker (the “CODM”) has ben identified as
the executive directors. CODM reviews the Group’s internal reports in order
to ases performance and alocate resources. Management has determined
the operating segments based on these reports.
CODM aseses the performance of the busines from a product perspective,
i.e. by headsets and headphones, and acesories and components.
CODM aseses the performance of the operating segments based on
segment results before corporate expenses, other gains and loses, finance
income and costs.
Revenue betwen segments is caried out in acordance with the terms
mutualy agred by the respective parties. The revenue from external parties
is derived from numerous external customers and is measured in a maner
consistent with that in the consolidated statement of comprehensive
income.
Headsets and
headphones
Acesories and
componentsEliminationTotal
戴咪耳机及音响耳机配件及零件撇销总计
HK$’000
Segment revenue分部收入
– External revenue－对外收入992,521
– Inter-segment revenue－分部间收入–
Total总计992,521
Segment results分部业绩46,516
Corporate expenses企业支出(7,781)
Other gains – net其他收益－净额5,492
Finance income – net融资收入－净额13,633
Profit before income tax除所得税前溢利57,860
Other segment information:其他分部资料：
Depreciation of property, plant and
equipment
物业、厂房及设备之
折旧17,547
Depreciation of right-of-use asets使用权资产之折旧7,286
Amortisation of intangible aset无形资产之摊销15
(Reversal of provision)/provision for
inventory obsolescence
呆货（回拨）╱拨备
27,459
(Reversal of provision)/provision for
impairment of trade receivables
应收货款减值（回拨）╱拨备
Aditions to non-curent asets (other
than financial instruments and
defered income tax asets)
非流动资产增加（除
金融工具及递延
所得税资产外）49,151
| 2025 |
|---|
| HK$’000 |
| 470,829 |
| (174,746) |
| 2025 |
|---|
| HK$’000 |
| 256,816 |
| (71,427) |
| 2025 |
|---|
| HK$’000 |
| – |
| – |
| 2025 |
|---|
| HK$’000 |
| 727,645 |
| 9,387 |
| 235 |
| 127,431 |
| 864,698 |
| (246,173) |
| (17,321) |
| (9,558) |
| (273,052) |
Notes to the Consolidated Financial Statements
综合财务报表附注
119年报 2024/2025 富士高实业控股有限公司
截至2025年3月31日止年度，约685,331,000港元
（2024：643,354,000港元）之收入乃来自四名
（2024：三名）客户，分别约为234,834,000港元、
222,902,000港元、116,875,000港元及
110,720,000港元，各自占本集团总收入10%
以上。其中约343,602,000港元（2024：
318,975,000港元）及341,729,000港元
（2024：324,379,000港元）分别为戴咪耳机
及音响耳机分部与配件及零件分部之收入。
分销及销售支出的48.9%（2024：42.1%）及
51.1%（2024：57.9%）分别来自戴咪耳机及
音响耳机分部以及配件及零件分部。一般及
行政支出的53.2%（2024：51.7%）及32.0%
（2024：30.4%）分别来自戴咪耳机及音响耳机
分部以及配件及零件分部。
本公司以香港为基地。截至2025年3月31日止年
度来自香港之对外客户收入约为856,909,000港元
（2024：970,549,000港元），而来自中国之对
外客户收入总额约为68,651,000港元（2024：
21,972,000港元）。
于2025年3月31日，除金融工具及递延所得税
资产外，位于香港及中国之非流动资产总值分
别约为24,380,000港元（2024：23,464,000港元）
及122,784,000港元（2024：105,930,000港元）。
Headsets and
headphones
Acesories and
componentsEliminationTotal
戴咪耳机及音响耳机配件及零件撇销总计
HK$’000HK$’000HK$’000HK$’000
Segment asets分部资产613,438277,705–891,143
Financial asets at fair value through
other comprehensive income
按公平值计入其他全面收益
的财务资产–
Curent income tax recoverable可收回当期所得税271
Other unalocated asets其他未分配资产50,613
Total asets总资产942,027
Segment liabilities分部负债(163,488)(76,817)–(240,305)
Curent income tax liabilities当期所得税负债(18,946)
Other unalocated liabilities其他未分配负债(10,733)
Total liabilities总负债(269,984)
For the year ended 31 March 2025, revenue of aproximately
HK$685,331,000 (2024: HK$643,354,000) was derived from four (2024: thre)
customers, amounting to aproximately HK$234,834,000, HK$222,902,000,
HK$116,875,000 and HK$110,720,000 respectively, which individualy
acounted for over 10% of the Group’s total revenue. Such revenue
consisted of aproximately HK$343,602,000 (2024:HK$318,975,000) and
HK$341,729,000 (2024: HK$324,379,000) atributable to headsets and
headphones segment and acesories and components segment respectively.
48.9% (2024: 42.1%) and 51.1% (2024: 57.9%) of distribution and seling
expenses is contributed by segment of headsets and headphones and
acesories and components, respectively. 53.2% (2024: 51.7%) and 32.0%
(2024: 30.4%) of general and administrative expenses is contributed by
segment of headsets and headphones and acesories and components,
respectively.
The Company is domiciled in Hong Kong. Revenue from external
customers atributed to Hong Kong for the year ended 31 March 2025
was aproximately HK$856,909,000 (2024: HK$970,549,000), and the
total revenue from external customers from China was aproximately
HK$68,651,000 (2024: HK$21,972,000).
At 31 March 2025, the total non-curent asets other than financial
instruments and defered income tax asets located in Hong Kong and
China were aproximately HK$24,380,000 (2024: HK$23,464,000) and
HK$122,784,000 (2024: HK$105,930,000) respectively.
5 分部资料（续）5 Segment information (Continued)
| 51,699 | 569 | 29,168 | 23,298 | 2,200 | 106,934 |
|---|---|---|---|---|---|
| 412 | 2,489 | 10,019 | 13,041 | 1,547 | 27,508 |
| 2,694 | (2,710) | – | 16 | – | – |
| – | – | – | (43) | – | (43) |
| (5,008) | – | (7,450) | (8,037) | (746) | (21,241) |
| (348) | (2) | (126) | (182) | (1) | (659) |
| 49,449 | 346 | 31,611 | 28,093 | 3,000 | 112,499 |
| 170,362 | 346 | 211,167 | 155,679 | 16,289 | 553,843 |
| (120,913) | – | (179,556) | (127,586) | (13,289) | (441,344) |
| 49,449 | 346 | 31,611 | 28,093 | 3,000 | 112,499 |
Notes to the Consolidated Financial Statements
综合财务报表附注
120Fujikon Industrial Holdings Limited Anual Report 2024/2025
6 Property, plant and equipment
Buildings and
leasehold
improvements
Construction–
in-progres
Machinery
and moulds
Furniture and
equipment
Motor
vehiclesTotal
楼宇及租赁
物业装修在建工程
机械及
模具家私及设备汽车总计
HK$’000HK$’000HK$’000HK$’000HK$’000HK$’000
At 1 April 2023于2023年4月1日
Cost成本173,482–204,386138,95917,568534,395
Acumulated depreciation累计折旧(118,524)–(190,626)(124,003)(17,410)(450,563)
Net bok amount账面净值54,958–13,76014,95615883,832
Year ended 31 March 2024截至2024年3月31日止年度
Opening net bok amount年初账面净值54,958–13,76014,95615883,832
Aditions增添2,7462,42821,79415,9052,45745,330
Transfers转拨1,152(1,853)577124–
Disposals出售–(18)(172)–(190)
Depreciation charge折旧开支(4,488)–(6,018)(6,638)(403)(17,547)
Exchange diferences汇兑差额(2,669)(6)(927)(877)(12)(4,491)
Closing net bok amount年终账面净值51,69956929,16823,2982,200106,934
At 31 March 2024于2024年3月31日
Cost成本168,441569206,091144,91617,968537,985
Acumulated depreciation累计折旧(116,742)–(176,923)(121,618)(15,768)(431,051)
Net bok amount账面净值51,69956929,16823,2982,200106,934
Year ended 31 March 2025截至2025年3月31日止年度
Opening net bok amount年初账面净值
Aditions增添
Transfers转拨
Disposals出售
Depreciation charge折旧开支
Exchange diferences汇兑差额
Closing net bok amount年终账面净值
At 31 March 2025于2025年3月31日
Cost成本
Acumulated depreciation累计折旧
Net bok amount账面净值
Depreciation charge of HK$17,630,000 (2024: HK$14,349,000) has ben
included in cost of sales and HK$3,611,000 (2024: HK$3,198,000) in general
and administrative expenses.
6 物业、厂房及设备
折旧开支17,630,000 港元（2024：14,349,000港元）
已纳入于销售成本及3,611,000港元（2024：
3,198,000港元）已纳入于一般及行政支出。
| 2025 |
|---|
| HK$’000 |
| 1,400 |
| 878 |
| 1,122 |
| (100) |
| 3,300 |
Notes to the Consolidated Financial Statements
综合财务报表附注
121年报 2024/2025 富士高实业控股有限公司
7 投资物业
截至2025年3月31日止年度，投资物业之支销
为12,000 港元（2024：4,500港元）。
于2025年3月31日，投资物业由独立专业合资
格估值师利骏行测量师有限公司（「利骏行」）进
行重估。估值乃根据于活跃市场之现行价格进
行。
于2025年及2024年3月31日，本集团之投资物
业位于香港及以10至50年租约持有。
估值基准
本集团至少于每年取得投资物业之独立估值。
于本年度，由利骏行进行估值。于各报告期间
结束时，董事会经考虑最近独立估值后更新彼
等对物业公平值之评估。
投资物业之公平值运用直接比较方法，其乃将
估值物业与近期交易之邻近地区其他可比较物
业进行直接比较。
估值亏损于综合全面收益表「其他（亏损）╱收
益－净额」列账（附注21）。
7 Investment properties
HK$’000
Begining of the year年初1,500
Transfers转拨–
Surplus on revaluation of right-of-use asets
upon transfer to investment properties
使用权资产之重估盈余拨入投资
物业–
Fair value loses (Note 21)公平值亏损（附注21）(100)
End of the year年终1,400
For the year ended 31 March 2025, outgoings in respect of investment
properties amounted to HK$12,000 (2024: HK$4,500).
The investment properties were revalued at 31 March 2025 by LCH (Asia-
Pacific) Surveyors Limited (“LCH”), an independent profesional qualified
valuer. Valuation was based on curent prices in an active market.
At 31 March 2025 and 2024, the Group’s investment properties are located
in Hong Kong and held on leases betwen 10 to 50 years.
Valuation basis
The Group obtains independent valuations for its investment properties at
least anualy. In the curent year, the valuation is performed by LCH. At
the end of each reporting period, the directors update their asesment
of the fair value of the properties, taking into acount the most recent
independent valuations.
The fair values of investment properties have ben derived using the direct
comparison aproach, which is based on comparing the properties to be
valued directly with other comparable properties in close proximity, which
have recently transacted.
The valuation los is included in “Other (loses)/gains – net” in the
consolidated statement of comprehensive income (Note 21).
| Fair value measurements at 31 March 2025 using | ||
|---|---|---|
| 于2025年3月31日之公平值计量所采用 | ||
| Quoted prices in active markets for identical assets (Level 1) | Significant other observable inputs (Level 2) | Significant unobservable inputs (Level 3) |
| 相同资产于活跃 市场之报价 （第1级） | 其他重要可观察 输入值 （第2级） | 重要不可观察 输入值 （第3级） |
| HK$’000 | HK$’000 | HK$’000 |
| – | 3,300 | – |
Notes to the Consolidated Financial Statements
综合财务报表附注
122Fujikon Industrial Holdings Limited Anual Report 2024/2025
7 投资物业（续）
估值基准（续）
下表载列以估值法划分之按公平值入账之投资
物业之分析：
公平值层级
7 Investment properties (Continued)
Valuation basis (Continued)
The folowing table analyses the investment properties caried at fair value
by valuation method:
Fair value hierarchy
Recuring fair value measurements经常性公平值计量
– Car park spaces－停车场
Fair value measurements at 31 March 2024 using
于2024年3月31日之公平值计量所采用
Quoted prices
in active
markets for
identical asets
(Level 1)
Significant other
observable
inputs
(Level 2)
Significant
unobservable
inputs
(Level 3)
相同资产于活跃
市场之报价
（第1级）
其他重要可观察
输入值
（第2级）
重要不可观察
输入值
（第3级）
HK$’000HK$’000HK$’000
Recuring fair value measurements经常性公平值计量
– Car park space－停车场–1,400–
The Group’s policy is to recognise transfers into and transfers out of fair
value hierarchy levels as of the date of the event or change in circumstances
that caused the transfer.
There were no transfers among Levels 1, 2 and 3 during the year.
Level 2 fair values of investment properties have ben derived using the
direct comparison aproach, which is based on comparing the properties
to be valued directly with other comparable properties in close proximity,
which have recently transacted.
本集团之政策为于事件发生当日或情况改变引
致转移时，才确认公平值层级之转入及转出。
于年内，概无第1级、第2级及第3级之间的转
移。
投资物业之第2级公平值运用直接比较方法，
其乃将估值物业与近期交易之邻近地区其他可
比较物业进行直接比较。
| 8,753 | 2,841 | 5,235 | 16,829 |
|---|---|---|---|
| – | – | 13,346 | 13,346 |
| – | – | (83) | (83) |
| (878) | – | – | (878) |
| (345) | (147) | (7,080) | (7,572) |
| – | (17) | (66) | (83) |
| 7,530 | 2,677 | 11,352 | 21,559 |
Notes to the Consolidated Financial Statements
综合财务报表附注
123年报 2024/2025 富士高实业控股有限公司
8 使用权资产8 Right-of-use asets
Leasehold
land
Land use
rightsBuildingsTotal
租赁土地土地使用权楼宇总计
HK$’000HK$’000HK$’000HK$’000
At 1 April 2023于2023年4月1日9,1293,16611,25723,552
Aditions增添–1,2391,239
Depreciation charge折旧开支(376)(149)(6,761)(7,286)
Exchange diferences汇兑差额–(176)(500)(676)
At 31 March 2024于2024年3月31日
Aditions增添
Terminations终止
Transfers转拨
Depreciation charge折旧开支
Exchange diferences汇兑差额
At 31 March 2025于2025年3月31日
Notes:
(a) The Group’s interest in leasehold land is located in Hong Kong and held on
leases betwen 10 to 50 years, and for self-use.
(b) The land use rights are located in China and held on leases of 50 years, and for
self-use.
(c) For the year ended 31 March 2025, the total cash outflow for leases was
HK$7,773,000 (2024: HK$7,840,000) with HK$7,376,000 (2024: HK$7,508,000)
being payments of principal elements and HK$397,000 (2024: HK$332,000) as
payments for interest portion.
(d) The Group’s leasing activities and how these are acounted for
The Group leases various properties. Rental contracts are typicaly made for
fixed periods betwen 1 years to 5 years. Lease terms are negotiated on an
individual basis and contain a wide range of diferent terms and conditions.
The lease agrements do not impose any covenants other than the rental
deposits in the leased asets that are held by the lesor. Leased asets were not
be used as security for borowing purposes.
(e) There are no variable lease payments contained in the leases.
(f) Extension and termination options
Extension and termination options are included in a number of property leases
acros the Group. These terms are used to maximise operational flexibility
in terms of managing contracts. The majority of extension and termination
options held are exercisable only by the Group and not by the respective lesor.
附注：
(a) 本集团于租赁土地之权益位于香港并以10至50年
租约持有及作自用途。
(b) 土地使用权位于中国并以50年租约持有及作自
用途。
(c) 截至2025年3月31日止年度，租赁现金流出总
额为7,773,000港元（2024：7,840,000港元），
其中7,376,000港元（2024：7,508,000港元）为
本金部分付款及397,000港元（2024：332,000港元）
为利息部分付款。
(d) 本集团之租赁活动及其入账方式
本集团租赁多项物业。租赁合约通常订有固定
租期1年至5年。租赁条款按个别基准议定，包
含各种不同条款及条件。租赁协议并无施加除
出租人所持租赁资产之租赁按金以外的任何契
诺。租赁资产不可用作借贷目的之抵押品。
(e) 该等租赁不包含任何可变租赁付款。
(f) 续期及终止选择权
本集团之多项物业租赁包含续期及终止选择
权。该等条款乃用于在管理合约方面最大限度
地提升经营灵活度。大多数所持有之续期及终
止选择权仅可由本集团而非相关出租人行使。
| Website development |
|---|
| 网站开发 |
| HK$’000 |
| 20 |
| (15) |
| 5 |
| 174 |
| (169) |
| 5 |
| 5 |
| (5) |
| – |
| 174 |
| (174) |
| – |
| 2025 |
|---|
| HK$’000 |
| 9,387 |
Notes to the Consolidated Financial Statements
综合财务报表附注
124Fujikon Industrial Holdings Limited Anual Report 2024/2025
9 无形资产9 Intangible aset
Year ended 31 March 2024截至2024年3月31日止年度
Opening net bok amount年初账面净值
Amortisation charge摊销开支
Closing net bok amount年终账面净值
At 31 March 2024于2024年3月31日
Cost成本
Acumulated amortisation累计摊销
Net bok amount账面净值
Year ended 31 March 2025截至2025年3月31日止年度
Opening net bok amount年初账面净值
Amortisation charge摊销开支
Closing net bok amount年终账面净值
At 31 March 2025于2025年3月31日
Cost成本
Acumulated amortisation累计摊销
Net bok amount账面净值
Amortisation charge of HK$5,000 (2024: HK$15,000) has ben included in
general and administrative expenses.
10 Financial asets at fair value through other
comprehensive income
HK$’000
Corporate Bonds and interest rate linked
notes
企业债券及利率挂钩票据
– Debt instruments－债务工具–
At 31 March 2025, the Group’s financial asets at FVOCI represented
corporate bonds and interest rate linked notes. The fair value of the
corporate bonds and interest rate linked notes were based on their curent
bid price in an active market provided by counterparties. The financial
asets at FVOCI are denominated in USD. None of these financial asets was
either past due or impaired.
摊销开支5,000港元（2024：15,000港元）已纳
入一般及行政支出。
10 按公平值计入其他全面收益的财务
资产
于2025年3月31日，本集团按公平值计入其他
全面收益的财务资产指企业债券及利率挂钩票
据。该等企业债券及利率挂钩票据之公平值乃
根据交易对方提供现时于活跃市场之买入价而
定。按公平值计入其他全面收益之财务资产以
美元计值。该等财务资产并无逾期或减值。
| 2025 |
|---|
| 100% |
| 100% |
| 100% |
| 100% |
| 100% |
| 100% |
| 100% |
| 100% |
| – 100% |
| – 100% |
| 100% |
| 100% |
| 51% |
| 51% |
Notes to the Consolidated Financial Statements
综合财务报表附注
125年报 2024/2025 富士高实业控股有限公司
11 附属公司
(a) 主要附属公司
下表为本公司于2025年3月31日之主要附
属公司：
11 Subsidiaries
(a) Principal subsidiaries
The folowing is a list of the Company’s principal subsidiaries at 31
March 2025:
Name
Place of
incorporation/
principal place of
operationKind of legal entityPrincipal activitiesClas of shares held
Particulars of
isued share
capitalInterest held (i)
名称
注册成立地点╱
主要经营地点法律实体类型主要业务所持股份类别已发行股本详情所持权益(i)
Charter Media LimitedHong KongLimited liability
company
Investment holding and
trading of electro-acoustic
products and acesories
Ordinary sharesHK$5,000,000100%
中名有限公司香港有限责任公司投资控股以及买卖电声产品及配件普通股5,000,000港元100%
Charter Media (Donguan)
Company Limited (i)
ChinaWholy foreign-
owned
enterprise
Manufacturing of electro-
acoustic products and
acesories
Ordinary sharesHK$190,000,000100%
中名（东莞）电子有限公司(i)中国外商独资企业制造电声产品及配件普通股190,000,000港元100%
Donguan Ful Rich Precision Metal
Products Company Limited (i)
ChinaWholy foreign-
owned
enterprise
InactiveOrdinary sharesHK$11,000,000100%
东莞富饶精密五金制品有限公司(i)中国外商独资企业暂无营业普通股11,000,000港元100%
Fujikon Industrial (BVI) Limited (i) British Virgin
Islands
Limited liability
company
Investment holdingOrdinary sharesUS$3,000100%
Fujikon Industrial (BVI) Limited (i)英属处女群岛有限责任公司投资控股普通股3,000美元100%
Fujikon Industrial Company LimitedHong KongLimited liability
company
Design, manufacturing,
marketing and trading of
electro-acoustic products
and acesories
Clas A (non-voting) (i)
Clas B (voting) (i)
HK$2,400,000
HK$600,000
–
100%
富士高实业有限公司香港有限责任公司设计、制造、推广及买卖电声产品
及配件
A类（无投票权）(i)
B类（有投票权）(i)
2,400,000港元
600,000港元
–
100%
Fujikon Internatioal LimitedHong KongLimited liability
company
InactiveOrdinary sharesHK$3100%
富士高国际有限公司香港有限责任公司暂无营业普通股3港元100%
Fujikon Packing Material Company
Limited
Hong KongLimited liability
company
Investment holding and
manufacturing and trading
of packaging materials
Ordinary sharesHK$10,00051%
富士高包装物料有限公司香港有限责任公司投资控股以及制造及买卖包装材料普通股10,000港元51%
| 2025 |
|---|
| 100% |
| 100% |
| 100% |
| 100% |
| 100% |
| 100% |
| 100% |
| 100% |
| 100% |
| 100% |
| 100% |
| 100% |
| 51% |
| 51% |
| 51% |
| 51% |
Notes to the Consolidated Financial Statements
综合财务报表附注
126Fujikon Industrial Holdings Limited Anual Report 2024/2025
11 附属公司（续）
(a) 主要附属公司（续）
Name
Place of
incorporation/
principal place of
operationKind of legal entityPrincipal activitiesClas of shares held
Particulars of
isued share
capitalInterest held (i)
名称
注册成立地点╱
主要经营地点法律实体类型主要业务所持股份类别已发行股本详情所持权益(i)
Fujikon Precision Metal Products
Limited
Hong KongLimited liability
company
Investment holding Ordinary sharesHK$10,000100%
富士高精密五金制品有限公司香港有限责任公司投资控股普通股10,000港元100%
Ken Motion LimitedHong KongLimited liability
company
Provision of management
services
Ordinary sharesHK$2100%
坚毅有限公司香港有限责任公司提供管理服务普通股2港元100%
Landbo Limited Hong Kong Limited liability
company
Property holdingOrdinary sharesHK$100100%
立保有限公司香港有限责任公司物业持有普通股100港元100%
Maxchief Enterprises LimitedHong KongLimited liability
company
InactiveOrdinary sharesHK$150100%
万泽企业有限公司香港有限责任公司暂无营业普通股150港元100%
AudiKom Technik LimitedHong KongLimited liability
company
Trading of electro-acoustic
products and acesories
Ordinary sharesHK$2100%
欧迪高科技有限公司香港有限责任公司买卖电声产品及配件普通股2港元100%
Smart Suces Management LimitedBritish Virgin
Islands
Limited liability
company
Investment holdingOrdinary sharesUS$100100%
Smart Suces Management Limited英属处女群岛有限责任公司投资控股普通股100美元100%
Dong Guan Fortune Packing
Products Company Limited (i)
ChinaWholy foreign-
owned
enterprise
Manufacturing and trading of
packaging materials
Ordinary sharesHK$34,000,00051%
东莞富采包装制品有限公司(i)中国外商独资企业制造及买卖包装物料普通股34,000,000港元51%
Qin Zhou Fortune Packing Products
Company Limited (i)
ChinaWholy foreign-
owned
enterprise
Manufacturing and trading of
packaging materials
Ordinary sharesRMB500,00051%
钦州富智包装制品有限公司(i)中国外商独资企业制造及买卖包装物料普通股人民币500,000元51%
11 Subsidiaries (Continued)
(a) Principal subsidiaries (Continued)
| 2025 |
|---|
| HK$’000 |
| 30,756 |
| 237,736 |
| (78,559) |
| (4,403) |
| 185,530 |
Notes to the Consolidated Financial Statements
综合财务报表附注
127年报 2024/2025 富士高实业控股有限公司
11 附属公司（续）
(a) 主要附属公司（续）
附注：
(i) 中名（东莞）电子有限公司、东莞富饶精密
五金制品有限公司、东莞富采包装制品有限
公司及钦州富智包装制品有限公司均为于
中国成立之外商独资企业。
(i) Fujikon Industrial (BVI) Limited之股
份由本公司直接持有。其他附属公司之
股份均被间接持有。
(i) A类（无投票权）股份持有人并无投票权，
亦无权获派股息，除非本公司纯利超过
900,000,000,000港元，且于清盘时无权获
得任何分派，除非900,000,000,000港元
之总额已由本公司分派予B类（有投票权）
股份持有人。
(b) 重大非控制性权益
于2025年3月31日，非控制性权益总额为
90,910,000港元（2024：101,094,000港元），
仅代表彼等于富士高包装物料有限公司及
其附属公司，即东莞富采包装制品有限公
司及钦州富智包装制品有限公司（「富士高
包装物料集团」）之权益。
下表载列拥有属本集团重大之非控制性权
益之富士高包装物料集团之财务资料摘
要。
财务状况表摘要
11 Subsidiaries (Continued)
(a) Principal subsidiaries (Continued)
Notes:
(i) Charter Media (Donguan) Company Limited, Donguan Ful Rich
Precision Metal Products Company Limited, Dong Guan Fortune Packing
Products Company Limited and Qin Zhou Fortune Packing Products
Company Limited are wholy foreign-owned enterprises established in
China.
(i) The shares of Fujikon Industrial (BVI) Limited are held directly by the
Company. The shares of other subsidiaries are held indirectly.
(i) Holders of Clas A (non-voting) shares have no voting rights, are not
entitled to dividends unles the net profit of the Company exceds
HK$900,000,000,000, and are not entitled to any distribution upon
winding up unles a sum of HK$900,000,000,000 has ben distributed by
the Company to holders of Clas B (voting) shares.
(b) Material non-controling interests
As at 31 March 2025, the total non-controling interests were
HK$90,910,000 (2024: HK$101,094,000), solely representing their
interests in Fujikon Packing Material Company Limited and its
subsidiaries, namely Dong Guan Fortune Packing Products Company
Limited and Qin Zhou Fortune Packing Products Company Limited (the
“FPC Group”).
Set out below are the sumarised financial information for FPC Group
that has non-controling interests and are material to the Group.
Sumarised statement of financial position
HK$’000
Non-curent asets非流动资产29,749
Curent asets流动资产267,506
Curent liabilities流动负债(84,140)
Non-curent liabilities非流动负债(6,800)
Net asets资产净值206,315
| 2025 |
|---|
| HK$’000 |
| 410,706 |
| 94,039 |
| (19,761) |
| 74,278 |
| (62) |
| 74,216 |
| 36,366 |
| (46,550) |
| 2025 |
|---|
| HK$’000 |
| 114,830 |
| (1,783) |
| (98,872) |
| 14,175 |
| (66) |
| 84,920 |
| 99,029 |
Notes to the Consolidated Financial Statements
综合财务报表附注
128Fujikon Industrial Holdings Limited Anual Report 2024/2025
11 附属公司（续）
(b) 重大非控制性权益（续）
全面收益表摘要
11 Subsidiaries (Continued)
(b) Material non-controling interests (Continued)
Sumarised statement of comprehensive income
HK$’000
Revenue收入358,512
Profit before income tax除所得税前溢利77,075
Income tax expenses所得税支出(15,981)
Profit for the year年内溢利61,094
Other comprehensive income其他全面收益(3,038)
Total comprehensive income全面收益总额58,056
Total comprehensive income alocated
to non-controling interests
分配至非控制性权益的
全面收益总额28,447
Dividends paid to non-controling
interests
派付予非控制性权益的股息
–
Sumarised statement of cash flows
HK$’000
Net cash generated from operating
activities
经营活动所得之现金净额
57,528
Net cash used in investing activities投资活动所用之现金净额(12,164)
Net cash used in financing activities融资活动所用之现金净额(5,794)
Net increase in cash and cash equivalents现金及现金等价物增加净额39,570
Exchange diferences汇兑差额(100)
Cash and cash equivalents at begining
of the year
年初现金及现金等价物
45,450
Cash and cash equivalents at end of the
year
年终现金及现金等价物
84,920
现金流量表摘要
| 2025 |
|---|
| HK$’000 |
| 38,927 |
| 58,638 |
| 49,044 |
| 146,609 |
| 2025 |
|---|
| HK$’000 |
| 172,544 |
| 11,827 |
| 1,956 |
| 791 |
| 2,557 |
| 189,675 |
| (2,167) |
| 187,508 |
| 14,679 |
| 9,806 |
| 211,993 |
Notes to the Consolidated Financial Statements
综合财务报表附注
129年报 2024/2025 富士高实业控股有限公司
12 存货
确认为支出及计入销售成本之存货成本约为
694,614,000港元（2024：789,069,000港元）。
截至2025年3月31日止年度，本集团有呆货拨
备拨回净额约15,615,000港元（2024：呆货拨
备约27,459,000港元）。
13 非流动按金及其他资产、应收货款
及其他应收款项
本集团给予客户30至180日之信贷期。于
2025年3月31日，应收货款172,544,000港元
（2024：188,876,000港元）并无逾期或减值。
该等款项与若干并无相关拖欠还款记录的独立
客户有关。截至2025年3月31日，亏损拨备金
额为2,167,000港元（2024：2,217,000港元）。
于报告期末，按逾期日期计算之应收货款之账
龄分析如下：
12 Inventories
HK$’000
Raw materials原材料43,678
Work-in-progres在制品59,105
Finished gods制成品49,967
152,750
The cost of inventories recognised as expense and included in cost of sales
amounted to aproximately HK$694,614,000 (2024: HK$789,069,000). For
the year ended 31 March 2025, the Group has a net reversal of provision
for inventory obsolescence of aproximately HK$15,615,000 (2024: provision
of inventory obsolescence of aproximately HK$27,459,000).
13 Non-curent deposits and other asets, trade and other
receivables
The Group grants credit periods to customers ranging from 30 to 180
days. At 31 March 2025, trade receivables of HK$172,544,000 (2024:
HK$188,876,000) were neither past due nor impaired. These related to
a number of independent customers for whom there was no relevant
history of default. The amount of the provision for los alowance was
HK$2,167,000 as of 31 March 2025 (2024: HK$2,217,000).
At the end of the reporting period, the ageing analysis of the trade
receivables by past due date is as folows:
HK$’000
Curent当期188,876
1 to 30 days1至30日77,517
31 to 60 days31至60日36,047
61 to 90 days61至90日723
Over 90 days90日以上2,605
305,768
Les: Los alowance for trade receivables减：应收货款之亏损拨备(2,217)
Trade receivables – net应收货款－净额303,551
Other receivables – curent portion其他应收款项－流动部分17,369
Non-curent deposits and other asets非流动按金及其他资产4,226
325,146
| 2025 |
|---|
| HK$’000 |
| 4,850 |
| 30,683 |
| 176,460 |
| 211,993 |
| 2025 |
|---|
| HK$’000 |
| 2,217 |
| (32) |
| (18) |
| – |
| 2,167 |
Notes to the Consolidated Financial Statements
综合财务报表附注
130Fujikon Industrial Holdings Limited Anual Report 2024/2025
13 非流动按金及其他资产、应收货款
及其他应收款项（续）
本集团应收货款及其他应收款项之账面值与其
公平值相若。
本集团应用香港财务报告准则第9号简化方法
计量所有应收货款之预期信贷亏损，其使用全
期预期亏损拨备。有关拨备计算的详情载于附
注3.1(b)。
本集团应收货款及其他应收款项结余账面值以
下列货币列账：
13 Non-curent deposits and other asets, trade and other
receivables (Continued)
The carying amounts of the Group’s trade and other receivables
aproximate their fair values.
The Group aplies HKFRS 9 simplified aproach to measuring expected
credit loses which uses a lifetime expected los alowance for al trade
receivables. Note 3.1(b) sets out the details about the calculation of the
alowance.
The carying amounts of the Group’s trade and other receivable balances
are denominated in the folowing curencies:
HK$’000
HKD港元6,856
RMB人民币25,359
USD美元292,931
325,146
The los alowance for trade receivables reconciles to the opening los
alowance as folows:
HK$’000
Begining of the year年初2,108
(Reversal of provision)/provision for
impairment of trade receivables
应收货款减值（回拨）╱拨备
Receivables writen of as uncolectible不可收回之应收款项撇销(29)
Exchange diferences汇兑差额(3)
End of the year年终2,217
As at 31 March 2025, trade receivables from the five largest customers
acounted for aproximately 89.5% (2024: 86.2%) of the total trade
receivables. The Group’s aproach of managing credit risk is disclosed in
Note 3.1(b).
At 31 March 2025 and 2024, other receivables are not considered impaired
and have no history of default.
应收货款亏损拨备与年初亏损拨备之对账如
下：
于2025年3月31日，来自五大客户之应收货款
约占总应收货款89.5%（2024：86.2%）。本集
团对信贷风险之管理方针于附注3.1(b)披露。
于2025年及2024年3月31日，其他应收款项并
未被视为减值，亦无拖欠还款记录。
| 2025 |
|---|
| HK$’000 |
| 231,595 |
| 5,161 |
| 236,756 |
| 2025 |
|---|
| HK$’000 |
| 8,170 |
| 16,621 |
| 210,582 |
| 1,383 |
| 236,756 |
Notes to the Consolidated Financial Statements
综合财务报表附注
131年报 2024/2025 富士高实业控股有限公司
14 原定到期日超过三个月的定期存款
及现金及现金等价物
(a) 原定到期日超过三个月的定期存款
原定到期日超过三个月的定期存款实际利
率约为每年4.1厘。该等存款平均到期日
为96日。定期存款的账面值与其公平值
相若，且以美元计值。
(b) 现金及现金等价物
14 Time deposits with original maturity of more than thre
months and cash and cash equivalents
(a) Time deposits with original maturity of more than thre
months
The efective interest rate on time deposits with original maturity of
more than thre months was aproximately 4.1% per anum. These
deposits have an average maturity of 96 days. The carying amounts
of time deposits aproximate their fair values, and are denominated
in USD.
(b) Cash and cash equivalents
HK$’000
Cash at bank and on hand银行存款及现金207,168
Short-term bank deposits短期银行存款118,674
325,842
The efective interest rate on short-term bank deposits was
aproximately 4.0% (2024: 5.0%) per anum. These deposits have an
average maturity of 17 days (2024: 30 days).
Cash and cash equivalents are denominated in the folowing
curencies:
HK$’000
HKD港元10,128
RMB人民币60,285
USD美元251,736
Others其他3,693
325,842
At 31 March 2025, aproximately HK$13,873,000 (2024: HK$17,633,000)
of the Group’s cash and cash equivalents were placed with banks in
China, and were subject to foreign exchange control regulations of
China.
短期银行存款实际利率约为每年4.0厘（2024：
5.0厘）。该等存款平均到期日为17日（2024：
30日）。
现金及现金等价物以下列货币列账：
于2025年3月31日，本集团约13,873,000港元
（2024：17,633,000港元）之现金及现金等价物存
放于中国境内银行，并受中国外汇管制法规所限
制。
| 2025 |
|---|
| HK$’000 |
| 86,496 |
| 11,524 |
| 4,037 |
| 119 |
| 2,977 |
| 105,153 |
| 128,929 |
| 7,801 |
| 241,883 |
| 2025 |
|---|
| HK$’000 |
| 64,944 |
| 147,393 |
| 27,759 |
| 1,787 |
| 241,883 |
Notes to the Consolidated Financial Statements
综合财务报表附注
132Fujikon Industrial Holdings Limited Anual Report 2024/2025
15 应付货款、合约负债、应计费用及
其他应付款项
于报告期末，按逾期日期计算之应付货款之账
龄分析如下：
本集团之应付货款及其他应付款项之账面值与
其公平值相若。
计入合约负债之年初结余10,900,000港元已确
认收入。
附注： 根据与客户订立的买卖协议，本集团一般就其
产品计提保证拨备。于截至2024年3月31日
止年度，一款产品的退货率较高，因此计提
特定拨备18,659,000港元并计入销售成本。
截至2025年3月31日止年度，由于与该客户
就特定产品达致和解协议，故有关拨备已予
拨回且相关赔偿已支付或累计（附注21）。
本集团之应付货款、合约负债、应计费用及其
他应付款项结余之账面值以下列货币列账：
15 Trade payables, contract liabilities, acruals and other
payables
At the end of the reporting period, the ageing analysis of the trade
payables by past due date is as folows:
HK$’000
Curent当期76,230
1 to 30 days1至30日40,896
31 to 60 days31至60日6,897
61 to 90 days61至90日–
Over 90 days90日以上3,404
Trade payables应付货款127,427
Acruals and other payables (Note)应计费用及其他应付款项（附注）104,828
Contract liabilities合约负债10,900
243,155
The carying amounts of the Group’s trade and other payables aproximate
their fair values.
Revenue recognised that was included in the contract liabilities balance at
the begining of the year amounted to HK$10,900,000.
Note: Based on the sales and purchase agrements with customers, the Group
generaly make provisions for waranty for its products. During the year
ended 31 March 2024, a particular product had a higher rate of return and
acordingly, a specific provision of HK$18,659,000 had ben made and included
in cost of sales. During the year ended 31 March 2025, such provision had ben
reversed as a setlement agrement had ben reached with such customer of
the particular product and the relevant compensation is either paid or acrued
(Note 21).
The carying amounts of the Group’s trade payables, contract liabilities,
acruals and other payables balances are denominated in the folowing
curencies:
HK$’000
HKD港元47,787
RMB人民币169,666
USD美元23,752
Others其他1,950
243,155
| 2025 |
|---|
| HK$’000 |
| 4,341 |
| (2,329) |
| 2,012 |
| 2025 |
|---|
| HK$’000 |
| 10,639 |
| (8,599) |
| (28) |
| 2,012 |
Notes to the Consolidated Financial Statements
综合财务报表附注
133年报 2024/2025 富士高实业控股有限公司
16 递延所得税资产及负债
递延所得税资产及负债在即期税项资产与即期
税项负债有合法可强制执行权利互相抵销及递
延所得税与同一财政机关有关时，方可互相
抵销。
递延所得税账目之变动净额如下：
16 Defered income tax asets and liabilities
Defered income tax asets and liabilities are ofset when there is a legaly
enforceable right to ofset curent tax asets against curent tax liabilities
and when the defered income taxes relate to the same fiscal authority.
HK$’000
Defered income tax asets:递延所得税资产：
Defered tax asets to be recovered after
more than 12 months
将于超过12个月后收回的
递延税项资产12,850
Defered income tax liabilities:递延所得税负债：
Defered tax liabilities to be recovered
after more than 12 months
将于超过12个月后收回的
递延税项负债(2,211)
10,639
The net movement on the defered income tax acount is as folows:
HK$’000
At 1 April于4月1日3,925
Defered income tax (charged)/credited to
consolidated statement of comprehensive
income (Note 24)
于综合全面收益表中
（支出）╱抵免之递延
所得税（附注24）6,933
Exchange diferences汇兑差额(219)
At 31 March于3月31日10,639
| 2025 | 2025 | 2025 | ||
|---|---|---|---|---|
| HK$’000 | HK$’000 | HK$’000 | ||
| 3,059 2,277 – | 3,068 5,239 (219) | |||
| 5,336 | 8,088 | 13,424 | ||
| (5,336) | (3,719) | (9,055) | ||
| – | (28) | (28) | ||
| 5,336 | 8,088 | |||
| – | 4,341 | 4,341 | ||
| 2025 | 2025 | 2025 | 2025 | |||
|---|---|---|---|---|---|---|
| HK$’000 | HK$’000 | HK$’000 | HK$’000 | |||
| (1,282) (352) | (892) (231) | (28) – | ||||
| (1,634) | (1,123) | (28) | (2,785) | |||
| 63 | 578 | (185) | 456 | |||
| (1,634) | (1,123) | (28) | ||||
| (1,571) | (545) | (213) | (2,329) | |||
Notes to the Consolidated Financial Statements
综合财务报表附注
134Fujikon Industrial Holdings Limited Anual Report 2024/2025
16 递延所得税资产及负债（续）
年内递延所得税资产及负债（与同一征税司法
权区之结余抵销前）之变动如下：
16 Defered income tax asets and liabilities (Continued)
The movements in defered income tax asets and liabilities (prior to
ofseting of balances within the same taxation jurisdiction) during the year
are as folows:
Defered income tax asetsTax losesProvisions and othersTotal
递延所得税资产税项亏损拨备及其他总计
HK$’000
At 1 April于4月1日6,127
(Charged)/credited to consolidated
statement of comprehensive
income
于综合全面收益表中
（支出）╱抵免
7,516
Exchange diferences汇兑差额(219)
At 31 March于3月31日13,424
Defered income tax liabilities
Acelerated tax
depreciation
Witholding tax on
unremited earningsOthersTotal
递延所得税负债加速税项折旧未汇返盈利的预扣税其他总计
HK$’000
At 1 April于4月1日(2,202)
Credited/(charged) to
consolidated statement of
comprehensive income
于综合全面收
益表中抵免╱（支出）
(583)
At 31 March于3月31日(2,785)
Defered income tax asets are recognised for tax los cary-forwards to the
extent that realisation of the related tax benefits through future taxable
profits is probable. The Group did not recognise defered income tax asets
of HK$26,407,000 (2024: HK$5,343,000) in respect of loses amounting to
HK$160,042,000 (2024: HK$18,705,000) that can be caried forward against
future taxable income with no expiry date.
递延所得税资产仅会在可能透过未来可征税
利润实现相关税项利润之情况下确认税项亏
损结转。本集团未确认递延所得税资产为
26,407,000港元（2024：5,343,000港元），
有关亏损金额为160,042,000港元（2024：
18,705,000港元），该亏损金额可予结转，
以抵销未来可征税收益，并无届满日期。
| 2025 | |
|---|---|
| Number of shares | |
| 股份数目 | |
| ’000 | HK$’000 |
| 425,839 | 42,584 |
Notes to the Consolidated Financial Statements
综合财务报表附注
135年报 2024/2025 富士高实业控股有限公司
17 股本17 Share capital
Number of
shares
股份数目
’000HK$’000
Ordinary shares, isued and fuly
paid:
已发行及缴足普通股：
Begining and end of the year年初及年终425,83942,584
18 Share options
Pursuant to the ordinary resolutions of the Company pased on 12 August 2022,
the Company adopted a share option scheme (the “Scheme”) which
complied with Chapter 17 of the Rules Governing the Listing of Securities
on the Stock Exchange (the “Listing Rules”). Under the Schemes, the
Company may grant options to any eligible employe (whether ful-time
or part-time, including any executive director), any non-executive director,
any shareholder, any suplier and any customer of the Company or any of
its subsidiaries or any entity in which any member of the Group holds any
equity interest, and any other party having contributed to the development
of the Group to subscribe for shares in the Company, subject to a maximum
of 30% of the nominal value of the isued share capital of the Company
from time to time.
During the year ended 31 March 2025 and 2024, no share options had ben
granted under the Scheme.
18 购股权
根据本公司于2022年8月12日通过之普通决
议案，本公司采纳符合联交所证券上市规则
（「上市规则」）第17章规定之购股权计划（「该
计划」）。根据该计划，本公司可向本公司或其
任何附属公司或本集团任何成员公司持有任何
股权之任何实体之任何合资格雇员（全职或兼
职，包括任何执行董事）、任何非执行董事、
任何股东、任何供应商及任何客户，及曾为本
集团发展作出贡献之任何其他人士授出购股权
以认购本公司股份，惟所涉及股份不得超过本
公司不时之已发行股本面值之30%。
截至2025年及2024年3月31日止年度，概无根
据该计划授出购股权。
| 119,642 | 1,041 | 1,607 | 14,202 | – | 19,998 | 156,490 |
|---|---|---|---|---|---|---|
| – | – | – | – | – | (1,187) | (1,187) |
| – | – | – | – | 665 | – | 665 |
| – | – | – | – | (638) | – | (638) |
| – | 1,122 | – | – | – | – | 1,122 |
| – | – | – | 2,187 | – | – | 2,187 |
| 119,642 | 2,163 | 1,607 | 16,389 | 27 | 18,811 | 158,639 |
Notes to the Consolidated Financial Statements
综合财务报表附注
136Fujikon Industrial Holdings Limited Anual Report 2024/2025
19 其他储备19 Other reserves
Share
premium
Property
revaluation
reserve
Capital
reserve (i)
Statutory
reserve (i)
Investment
reserve
Exchange
reserveTotal
股份溢价
物业
重估储备资本储备(i)法定储备(i)投资储备汇兑储备总计
HK$’000HK$’000HK$’000HK$’000HK$’000HK$’000HK$’000
At 1 April 2023于2023年4月1日119,6421,0411,60714,202(18)32,754169,228
Curency translation diferences汇兑差额–(12,756)(12,756)
Fair value loses on financial asets at FVOCI按公平值计入其他全面收益的
财务资产之公平值亏损–(10)–(10)
Release upon disposal of financial asets at
FVOCI
出售按公平值计入其他全面收
益的财务资产时拨回–28–28
At 31 March 2024于2024年3月31日
Curency translation diferences汇兑差额
Fair value gains on financial asets at FVOCI按公平值计入其他全面收益的
财务资产之公平值收益
Release upon disposal of financial asets at
FVOCI
出售按公平值计入其他全面收益的
财务资产时拨回
Surplus on revaluation of right-of-use asets
upon transfer to investment properties
使用权资产之重估盈余拨入投资物业
Apropriation of statutory reserve转拨至法定储备
At 31 March 2025于2025年3月31日
Notes:
(i) Capital reserve represents the diference betwen the nominal value of the
ordinary shares isued by the Company and the agregate amount of the share
capital and share premium of subsidiaries acquired through an exchange of
shares pursuant to the Group’s reorganisation in March 2000.
(i) Statutory reserve represents general reserve fund required to be set up
pursuant to the laws of China for the Group’s subsidiaries in China. The
general reserve fund can only be used to make up for loses incured, increase
registered capital or use for colective welfare of employes.
附注：
(i) 资本储备指本公司所发行普通股之面值与根据
2000年3月本集团重组进行换股而收购之附属
公司股本与股份溢价总和之差额。
(i) 法定储备指须根据中国法律为本集团于中国之
附属公司设立的一般储备基金。一般储备基金
仅可用作弥补亏损、增加注册资本或用作雇员
之集体福利。
| 2025 |
|---|
| HK$’000 |
| 909,696 |
| 15,791 |
| 73 |
| 925,560 |
| 2025 |
|---|
| HK$’000 |
| (100) |
| – |
| 638 |
| – |
| 266 |
| (662) |
| (26) |
| (90,683) |
| 3 |
| (90,564) |
Notes to the Consolidated Financial Statements
综合财务报表附注
137年报 2024/2025 富士高实业控股有限公司
20 收入
本集团主要从事设计、制造、推广及销售电声
产品、配件及其他电子产品及持有物业。年内
确认之收入如下：
21 其他（亏损）╱收益－净额
20 Revenue
The Group is principaly engaged in the design, manufacturing, marketing
and trading of electro-acoustic products, acesories and other electronic
products and property holding. Revenues recognised during the year are as
folows:
HK$’000
Sales of merchandise货品销售982,696
Handling income处理收入9,799
Rental income租金收入26
992,521
21 Other (loses)/gains – net
HK$’000
Fair value loses on investment properties
(Note 7)
投资物业之公平值亏损（附注7）
(100)
Fair value loses on financial asets at FVPL按公平值计入损益的财务资产之
公平值亏损(268)
Net realised gains/(loses) on disposal of
financial asets at FVOCI
出售按公平值计入其他全面收益
的财务资产之已变现收益╱
（亏损）净额(8)
Realised loses on disposal of financial asets
at FVPL
出售按公平值计入损益的财务
资产之已变现亏损(52)
Net gains on disposal of property, plant and
equipment
出售物业、厂房及设备之
收益净额1,155
Net foreign exchange (loses)/gains汇兑（亏损）╱收益净额4,769
Loses on lease termination终止租赁之亏损–
Cash compensation to a customer of the
particular product (Note)
就特定产品支付予客户之
现金赔偿（附注）–
Others其他(4)
5,492
Notes to the Consolidated Financial Statements
综合财务报表附注
138Fujikon Industrial Holdings Limited Anual Report 2024/2025
21 其他（亏损）╱收益－净额（续）
附注： 于2023年8月8日，本公司全资附属公司富士
高实业有限公司接获本集团一名客户（「该客
户」）关于一款音响耳机（「该音响耳机」）品质
问题（「品质问题」）的函件（「函件」）。有关品
质问题据称乃因一款可充电池（「电池」）存在
瑕疵所致，而电池乃由本集团一名声誉良好的
海外供应商（「供应商」）提供，该供应商仅向本
集团供应上述该款音响耳机所用电池。
直至2024年11月27日，本集团接获该客户若
干关于该音响耳机品质问题的更新索赔函，包
括就材料成本、溢利亏损以及手续费等提出的
申索。基于管理层获得的独立法律意见，该
客户声称的申索实际上是否存在以及其程度尚
不确定，尤其是当时案件的相关事实尚不完整
且该客户尚未能证实或证明任何声称的损害赔
偿。因此，截至2024年9月30日，管理层尚未
就申索作出任何拨备，且彼等认为对财务影响
作出估计并不切实可行。
自2024年12月2日起，为维持长期业务关系及
加强未来业务合作，该客户与本集团展开磋商
以解决该音响耳机品质问题，据此，本集团与
该客户于2024年12月7日签订和解协议（「和
解协议」）。根据和解协议，本集团将透过财务
及非财务赔偿方式弥偿该客户。另一方面，该
客户同意订购安装替换电池的音响耳机，同时
下发部分新订单，故此先前就保证及存货作出
的拨备可予拨回。有关和解资料详情，请参阅
本集团日期为2024年12月9日的公告（「该公
告」）。
21 Other (loses)/gains – net (Continued)
Note: On 8 August 2023, Fujikon Industrial Company Limited, a wholy-owned
subsidiary of the Company, received a leter (the “Leter”) from a customer of
the Group (the “Customer”) concerning quality isue (the “Quality Isue”) with
a particular model of headphones (the “Headphones”). Such Quality Isue was
alegedly caused by defects in a particular model of rechargeable bateries (the
“Bateries”), which have ben suplied by a reputable overseas suplier of the
Group (the “Suplier”) who only suplies the Bateries to the Group on this
particular model of Headphones concerned.
Up to 27 November 2024, the Group received a few more updated claim
leters from the Customer concerning the Quality Isue with the Headphones,
including claims for material cost, los of profit and handling cost, etc. Based
on an independent legal advice obtained by the management, it was unclear
if and to what extent the aleged claim by the Customer actualy existed,
specificaly the relevant facts of the case were stil incomplete at that time
and that the Customer had not yet substantiate or prove any of its aleged
damages. Acordingly, management did not make any provision for the claim
as of 30 September 2024 nor did they consider it was practicable to estimate its
financial efect.
Starting from 2 December 2024, the Customer initiated negotiation with the
Group to resolve the Quality Isue with the Headphones with an intention to
continue with the long-term busines relationship and enhance future busines
coperation, whereby the Group and the Customer entered into a setlement
agrement (the “Setlement Agrement”) on 7 December 2024. Pursuant to
the Setlement Agrement, the Group shal indemnify the Customer by way of
financial and non-financial compensations. On the other hand, the Customer
agred to place purchase orders of the Headphones with replacement of the
Bateries and also some new orders such that provision previously made for
waranty and provision previously made on inventories could be reversed. For
details of the setlement information, please refer to Anouncement made by
the Group dated 9 December 2024 (the “Anouncement”).
| 2025 |
|---|
| HK$’000 |
| 1,765 |
| 694,614 |
| 21,241 |
| 7,572 |
| 5 |
| 49 |
| (15,615) |
| (21,681) |
| 261,588 |
| 2025 |
|---|
| HK$’000 |
| – |
| 12,691 |
| 12,691 |
| (397) |
| (3) |
| (400) |
| 12,291 |
Notes to the Consolidated Financial Statements
综合财务报表附注
139年报 2024/2025 富士高实业控股有限公司
22 经营溢利
经营溢利已扣除╱（计入）下列各项：
附注： 存货成本包括但不限于原料成本、分包费
用、若干雇员支出及制造费用。
23 融资收入－净额
22 Operating profit
Operating profit is stated after charging/(crediting) the folowing:
HK$’000
Auditor’s remuneration核数师酬金1,542
Cost of inventories (Note)存货成本（附注）789,069
Depreciation of property, plant and
equipment
物业、厂房及设备之折旧
17,547
Depreciation of right-of-use asets使用权资产之折旧7,286
Amortisation of intangible aset无形资产之摊销15
Expenses relating to short-term leases and
low value lease payments not included in
lease liabilities
不计入租赁负债的短期租赁及
低价值租赁付款相关之支出
(Reversal of provision)/provision for inventory
obsolescence
呆货（回拨）╱拨备
27,459
(Reversal of provision)/provision for waranty 保证（回拨）╱拨备19,880
Staf costs (including directors’ emoluments)
(Note 27)
雇员支出（包括董事酬金）
（附注27）281,682
Note: Costs of inventories included but not limited to costs of materials,
subcontracting charges, certain staf costs and manufacturing overheads.
23 Finance income – net
HK$’000
Interest income from利息收入来自
– financial asets at FVOCI－按 公平值计入其他全面收益
的财务资产233
– bank deposits－银行存款13,743
Finance income融资收入13,976
Interest expense on利息支出
– lease liabilities－租赁负债(332)
– others－其他(11)
Finance costs融资成本(343)
13,633
| 2025 |
|---|
| HK$’000 |
| 18,663 |
| – |
| 1,908 |
| 20,571 |
| 8,599 |
| 29,170 |
Notes to the Consolidated Financial Statements
综合财务报表附注
140Fujikon Industrial Holdings Limited Anual Report 2024/2025
24 所得税支出
本公司免缴百慕达税项直至2035年3月为止。
香港利得税拨备已按照年内于香港产生之估
计应课税溢利以16.5%（2024：16.5%）税率
计算，惟根据利得税两级制属于合资格法团
的本集团一间附属公司除外。该附属公司首
2,000,000港元（2024：2,000,000港元）的应
课税溢利按8.25%（2024：8.25%）税率缴税，
而余下应课税溢利则按16.5%（2024：16.5%）
税率缴税。本集团于中国之附属公司须按估计
应课税溢利以25%（2024：25%）税率缴交中
国企业所得税。
根据新税法，就向境外投资者宣派来自于中
国成立之外商投资企业的股息征收10%预扣
税。该规定自2008年1月1日起生效并适用于
2007年12月31日后所产生之盈利。倘中国与
境外投资者所属司法权区之间定有税务优惠条
约，则可按较低预扣税率缴税。因此，本集团须
就该等于中国成立之附属公司就2008年1月1日
起产生之盈利而分派╱将予分派之股息缴交预
扣税。
从综合全面收益表内扣除的税项金额指：
24 Income tax expenses
The Company is exempted from taxation in Bermuda until March 2035.
Hong Kong profits tax has ben provided at the rate of 16.5% (2024:
16.5%) on the estimated asesable profits arising in Hong Kong during the
year, except for one subsidiary of the Group which is a qualifying entity
under the two-tiered profits tax rates regime. The first HK$2,000,000 (2024:
HK$2,000,000) of asesable profits of this subsidiary are taxed at 8.25%
(2024: 8.25%) and the remaining asesable profits are taxed at 16.5% (2024:
16.5%). The Group’s subsidiaries in China are subject to China Corporate
Income Tax at a rate of 25% (2024: 25%) on estimated asesable profits.
Pursuant to the New Tax Law, a 10% witholding tax is levied on dividends
declared to foreign investors from the foreign investment enterprises
established in China. The requirement is efective from 1 January 2008 and
aplies to earnings after 31 December 2007. A lower witholding tax rate
may be aplied if there is a tax treaty betwen China and the jurisdiction
of the foreign investors. Witholding taxes are payable on dividends
distributed/to be distributed by those subsidiaries established in China in
respect of earnings generated from 1 January 2008.
The amount of taxation charged to the consolidated statement of
comprehensive income represents:
HK$’000
Curent income tax当期所得税
– Curent tax on profits for the year－年内溢利之当期税项17,122
– Under-provision in prior years－往年不足拨备428
– Witholding tax on dividends－股息预扣税139
17,689
Defered income tax charge/(credit) (Note 16)递延所得税支出╱（抵免）
（附注16）(6,933)
10,756
| 2025 |
|---|
| HK$’000 |
| 29,457 |
| 4,860 |
| 2,709 |
| (2,152) |
| 2,047 |
| 593 |
| (292) |
| 29,063 |
| – |
| 1,330 |
| (8,883) |
| (105) |
| 29,170 |
| 2025 |
|---|
| HK$’000 |
| 8,517 |
| 21,292 |
| – |
| 29,809 |
Notes to the Consolidated Financial Statements
综合财务报表附注
141年报 2024/2025 富士高实业控股有限公司
24 所得税支出（续）
本集团除所得税前溢利之税项与据本公司所属
国家之税率计算之理论金额之差别如下：
24 Income tax expenses (Continued)
The taxation on the Group’s profit before income tax difers from the
theoretical amount that would arise using the taxation rate of the home
country of the Company as folows:
HK$’000
Profit before income tax除所得税前溢利57,860
Calculated at a taxation rate of 16.5%
(2024: 16.5%)
按税率16.5%（2024：16.5%）
计算9,547
Efect of diferent taxation rates in China于中国不同税率之影响(641)
Income not subject to taxation毋须缴税之收入(3,540)
Expenses not deductible for taxation purpose不可就课税而扣除之支出3,012
Temporary diferences not recognised未确认之暂时差异1,018
Utilisation of previously unrecognised tax
loses
使用往年未确认之税务亏损
–
Tax loses not recognised未确认之税务亏损978
Under-provision in prior years往年不足拨备428
Witholding tax on dividends股息预扣税380
Tax incentives for research and development
expenses available for one subsidiary
incorporated in PRC (Note)
于中国注册成立的一家附属公司
享有的研发费用的税务优惠
（附注）–
Others其他(426)
10,756
Note: The Group aplied an incentive from the PRC tax authority relating to the
research and development expenses of one subsidiary in the PRC. Under such
tax incentive rule, the Group may claim an aditional tax deduction up to
100% of the relevant research and development expenses incured in a year.
25 Dividends
HK$’000
Interim dividend paid of HK2.0 cents
(2024: HK2.0 cents) per ordinary share
已付中期股息每股普通股
2.0港仙（2024：2.0港仙）8,517
Proposed final dividend of HK5.0 cents
(2024: HK5.0 cents) per ordinary share
建议末期股息每股普通股
5.0港仙（2024：5.0港仙）21,292
Proposed special final dividend of HK0 cent
(2024: HK1.0 cent) per ordinary share
建议特别末期股息每股普通股
0港仙（2024：1.0港仙）4,258
34,067
附注： 本集团就一家中国附属公司的研发费用向中国
税务机关申请税务优惠。根据有关税务优惠规
则，本集团可申请额外的税项抵扣，金额最高
可达年内已发生的相关研发费用的100%。
25 股息
| 2025 |
|---|
| (36,108) |
| 425,839 |
| (8.5) |
Notes to the Consolidated Financial Statements
综合财务报表附注
142Fujikon Industrial Holdings Limited Anual Report 2024/2025
25 股息（续）
于2025年6月27日举行之会议上，董事会建
议派付每股普通股末期股息5.0港仙，为数
21,292,000港元。建议股息不会在该等综合
财务报表中列作应付股息，而将反映于截至
2026年3月31日止年度之保留溢利分配。
26 每股（亏损）╱盈利
基本
每股基本（亏损）╱盈利乃以归属本公司股权持
有人之（亏损）╱溢利除以年内已发行普通股之
加权平均数计算。
摊薄
每股摊薄（亏损）╱盈利乃通过调整发行在外普
通股之加权平均数按假设所有潜在摊薄普通股
已转换计算。本公司有一类潜在摊薄普通股，
即购股权。就购股权而言，乃根据尚未行使购
股权所附认购权之货币价值进行计算以厘定可
按公平值（厘定为本公司股份之平均每年市价）
收购之股份数目。上文计算之股份数目与假设
购股权获行使后发行之股份数目相若。
截至2025年及2024年3月31日止年度，由于并
无潜在摊薄股份，因此每股摊薄（亏损）╱盈利
与每股基本（亏损）╱盈利相同。
25 Dividends (Continued)
At a meting held on 27 June 2025, the Board of Directors recomended
a final dividend of HK5.0 cents per ordinary share amounting to
HK$21,292,000. The proposed dividends are not reflected as a dividend
payable in these consolidated financial statements, and wil be reflected as
apropriation of retained earnings for the year ending 31 March 2026.
26 (Los)/earnings per share
Basic
Basic (los)/earnings per share is calculated by dividing the (los)/profit
atributable to equity holders of the Company by the weighted average
number of ordinary shares in isue during the year.
(Los)/profit atributable to equity holders of
the Company (HK$’000)
归属本公司股权持有人
之（亏损）╱溢利（千港元）17,168
Weighted average number of ordinary shares
in isue (in thousands)
已发行普通股之
加权平均数（千股）425,839
Basic (los)/earnings per share (HK cents)每股基本（亏损）╱盈利（港仙）4.0
Diluted
Diluted (los)/earnings per share is calculated by adjusting the weighted
average number of ordinary shares outstanding asuming conversion of al
dilutive potential ordinary shares. The Company has one category of dilutive
potential ordinary shares: share options. For the share options, a calculation
is done to determine the number of shares that could have ben acquired
at fair value (determined as the average anual market price of the
Company’s shares) based on the monetary value of the subscription rights
atached to outstanding share options. The number of shares calculated as
above is compared with the number of shares that would have ben isued
asuming the exercise of the share options.
For the year ended 31 March 2025 and 2024, diluted (los)/earnings per
share is the same as basic (los)/earnings per share as there are no potential
dilutive shares.
| 2025 |
|---|
| HK$’000 |
| 222,889 |
| 13,269 |
| 25,430 |
| 261,588 |
| 2025 |
|---|
| HK$’000 |
| 2,820 |
| 2025 |
|---|
| 1 |
Notes to the Consolidated Financial Statements
综合财务报表附注
143年报 2024/2025 富士高实业控股有限公司
27 雇员支出（包括董事酬金）
(a) 五名最高薪人士
年内本集团五名最高薪人士包括四名
（2024：四名）董事，彼等之酬金已于附
注28所示之分析反映。年内应付余下一
名（2024：一名）人士的酬金如下。
上述人士之酬金介于下列范围内：
27 Staf costs (including directors’ emoluments)
HK$’000
Wages and salaries工资及薪金242,396
Other staf benefits其他员工福利22,823
Pension costs – defined contribution plans
(Note 31)
退休金支出－定额供款计划
（附注31）16,463
281,682
(a) Five highest paid individuals
The five individuals whose emoluments were the highest in the Group
for the year include four (2024: four) directors whose emoluments are
reflected in the analysis shown in Note 28. The emoluments payable
to the remaining one (2024: one) individual during the year is as
folows.
HK$’000
Wages and salaries工资及薪金2,766
The emoluments of the afore-mentioned individuals fel within the
folowing bands:
Number of individuals
人数
Emolument bands酬金范围
HK$2,500,001 – HK$3,000,0002,500,001港元至3,000,000港元1
| – | 2,693 | – | 3 | 2,696 |
|---|---|---|---|---|
| – | 2,618 | – | 3 | 2,621 |
| – | 2,618 | – | 3 | 2,621 |
| – | 1,832 | – | 21 | 1,853 |
| – | 2,053 | – | 21 | 2,074 |
| 250 | – | – | – | 250 |
| 250 | – | – | – | 250 |
| 208 | – | – | – | 208 |
| 42 | – | – | – | 42 |
Notes to the Consolidated Financial Statements
综合财务报表附注
144Fujikon Industrial Holdings Limited Anual Report 2024/2025
28 董事福利及权益
(a) 董事酬金
28 Benefits and interests of directors
(a) Directors’ emoluments
Name of DirectorsFes
Salary,
alowances
and benefits
in kind
Discretionary
bonuses
Pension costs
and share
optionsTotal
董事姓名袍金
薪金、津贴
及实物福利酌情花红
退休金支出
及购股权总计
HK$’000HK$’000HK$’000HK$’000HK$’000
For the year ended 31 March 2025截至2025年3月31日止年度
Executive Directors执行董事
Yeung Chi Hung, Johny
(Chief Executive Oficer)
杨志雄
（行政总裁）
Yuen Ye Sai, Simon源而细
Chow Man Yan, Michael周文仁
Yuen Chi King, Wyman源子敬
Yeung Siu Chung, Ben杨少聪
Independent Non-Executive Directors独立非执行董事
Ng Wang Pun, Denis 吴宏斌
Che Wai Hang, Alen车伟恒
Tse Kan (apointed with efect from
1 June 2024)
谢勤
（于2024年6月1日获委任）
Le Yiu Pun (resigned with efect
from 1 June 2024)
李耀斌
（于2024年6月1日起辞任）
For the year ended 31 March 2024截至2024年3月31日止年度
Executive Directors执行董事
Yeung Chi Hung, Johny
(Chief Executive Oficer)
杨志雄
（行政总裁）–2,60286433,469
Yuen Ye Sai, Simon源而细–2,53086433,397
Chow Man Yan, Michael周文仁–2,53086433,397
Yuen Chi King, Wyman源子敬–1,770204211,995
Yeung Siu Chung, Ben杨少聪–1,984204212,209
Chow Lai Fung (resigned with efect
from 2 March 2024)
周丽凤
（于2024年3月2日起辞任）–1,750–211,771
Independent Non-Executive Directors独立非执行董事
Ng Wang Pun, Denis 吴宏斌250–250
Che Wai Hang, Alen车伟恒250–250
Le Yiu Pun 李耀斌250–250
Notes:
(i) Emoluments paid or payable in respect of a person’s services as a
director, whether of the Company or its subsidiary undertaking.
(i) No remuneration has ben paid by the Group to the Directors as an
inducement to join or upon joining the Group, or as compensation
for los of ofice during the curent and prior years. There was no
arangement under which a Director waived or agred to waive any
remuneration during the curent and prior years.
附注：
(i) 就任何人士以董事身份（不论为本公司或
其附属公司）所提供服务已付或应付的酬
金。
(i) 本集团于当前及过往年度概无向董事支
付酬金，以作为吸引加入或加入本集团
时之奖励或因离职而所作之补偿。于当
前及过往年度概无董事放弃或同意放弃
任何酬金之安排。
Notes to the Consolidated Financial Statements
综合财务报表附注
145年报 2024/2025 富士高实业控股有限公司
28 董事福利及权益（续）
(b) 董事退休福利及终止雇佣福利
年内，概无董事已收取或将收取任何退休
福利或终止雇佣福利（2024：无）。
(c) 就提供董事服务向第三方提供之代价
截至2025年3月31日止年度，本公司概
无就提供董事服务向任何第三方支付代价
（2024：无）。
(d) 有关以董事、其受控制法团及关连实
体为受益人之贷款、准贷款及其他交
易之资料
概无作出以董事、或其受控制法团及关连
实体为受益人之贷款、准贷款及其他交易
安排（2024：无）。
(e) 董事于交易、安排或合约中之重大
权益
根据日期为2024年8月30日的公告（「该公
告」）：(i)非全资附属公司东莞富采包装制
品有限公司（作为租户）与光明（东莞）柯式
印务纸品厂有限公司（「光明（东莞）」）（作
为业主）就租赁中国物业订立中华人民共
和国（「中国」）租赁协议，自2024年9月1日
起计为期两年；及(i)全资附属公司富士
高实业有限公司（作为租户）与世嘉科技有
限公司（「世嘉」）（作为业主）就租赁香港物
业订立香港租赁协议，自2024年9月1日
起计为期两年。年内，根据中国租赁协
议及香港租赁协议进行的交易总额分别
为约人民币4,284,000元（2024：人民币
4,284,000元）（相当于约4,622,000港元
（2024：4,672,000港元）及1,052,000港元
（2024：1,078,000港元）。本集团重大关
连交易的详情载于本年报「董事会报告」一
节内第26至27页之「关连交易」一段。
除集团公司之间订立的租赁协议和上述交
易以及附注32所述者外，于年末及年内
任何时间，并无本集团作为其中一方且本
公司董事于其中直接或间接拥有重大权益
之其他重大交易、安排及合约。
28 Benefits and interests of directors (Continued)
(b) Directors’ retirement benefits and termination benefits
None of the directors received or wil receive any retirement benefits
or termination benefits during the year (2024: Nil).
(c) Consideration provided to third parties for making available
directors’ services
During the year ended 31 March 2025, the Company did not pay
consideration to any third parties for making available directors’
services (2024: Nil).
(d) Information about loans, quasi-loans and other dealings
in favour of directors, controled bodies corporate by and
conected entities with such directors
There are no loans, quasi-loans and other dealing arangements
in favour of the directors, or controled bodies corporate by and
conected entities with such directors (2024: Nil).
(e) Directors’ material interests in transactions, arangements or
contracts
Pursuant to an anouncement dated 30 August 2024 (the
“Anouncement”) (i) Dong Guan Fortune Packing Products Company
Limited, a non-wholy owned subsidiary (as tenant) and The Bright
(Donguan) Printing Pres & Paper Products Factory Ltd (“Bright
(Donguan)”) (as landlord) entered into the People’s Republic of
China (“PRC”) tenancy agrement in respect of the leasing of the
PRC property for a term of two years from 1 September 2024; and
(i) Fujikon Industrial Company Limited, a wholy-owned subsidiary
(as tenant) and First Suces Technology Limited (“First Suces”) (as
landlord) entered into the Hong Kong tenancy agrement in respect
of the leasing of the Hong Kong properties for a term of two years
from 1 September 2024. During the Year, the total transaction
amount caried out under the PRC tenancy agrement and the Hong
Kong tenancy agrement were aproximately RMB4,284,000 (2024:
RMB4,284,000) (equivalent to aproximately HK$4,622,000 (2024:
HK$4,672,000) and HK$1,052,000 (2024: HK$1,078,000) respectively.
Details of the significant conected transactions of the Group are
disclosed in the sections headed “Report of the Directors” under the
paragraph headed “Conected Transactions” on page 26 to 27 of this
anual report.
Save for tenancy agrements amongst to group companies and the
aforementioned transaction and for those set out in Note 32, no
other significant transactions, arangements and contracts to which
the Group was a party and in which a director of the Company had a
material interest, whether directly or indirectly, subsisted at the end
of the year or at any time during the year.
| 2025 |
|---|
| HK$’000 |
| 287 |
| 49,234 |
| 21,241 |
| 7,572 |
| 5 |
| (12,291) |
| 29,170 |
| 100 |
| – |
| – |
| (638) |
| (266) |
| (15,615) |
| (32) |
| (21,681) |
| 6 |
| 26 |
| 57,118 |
| 21,047 |
| 115,038 |
| 2,977 |
| (21,441) |
| (6,097) |
| 168,642 |
Notes to the Consolidated Financial Statements
综合财务报表附注
146Fujikon Industrial Holdings Limited Anual Report 2024/2025
29 综合现金流量表附注
(a) 本年度溢利与经营业务所得之现金之
对账：
29 Notes to the consolidated statement of cash flows
(a) Reconciliation of profit for the year to cash generated from
operations:
HK$’000
Profit for the year本年度溢利47,104
Adjustments for:就以下事项作出调整：
– U nsetled cash compensation to a
customer of the particular product
－就 特定产品未付客户的
现金赔偿–
– D epreciation of property, plant and
equipment
－物业、厂房及设备之折旧
17,547
– Depreciation of right-of-use asets－使用权资产之折旧7,286
– Amortisation of intangible aset－无形资产之摊销15
– Finance income – net－融资收入－净额(13,633)
– Income tax expenses－所得税支出10,756
– Fair value loses on investment properties－投资物业公平值之亏损100
– Fair value loses on financial asets at FVPL－按 公平值计入损益的财务
资产之公平值亏损268
– R ealised loses on disposal of financial asets
at FVPL
－出 售按公平值计入损益的
财务资产之已变现亏损52
– N et realised (gains)/loses on disposal of
financial asets at FVOCI
－出 售按公平值计入其他全
面收益的财务资产之已
变现（收益）╱亏损
净额8
– N et gains on disposal of property, plant and
equipment
－出 售物业、厂房及设备
之收益净额(1,155)
– (R eversal of provision)/provision for
inventory obsolescence
－呆货（回拨）╱拨备
27,459
– (R eversal of provision)/provision for
impairment of trade receivables
－应 收货款减值（回拨）╱
拨备141
– (Reversal of provision)/provision for waranty－保证（回拨）╱拨备19,880
– Exchange diferences－汇兑差额(4,517)
– Loses on lease termination－终止租赁之亏损–
111,311
Changes in working capital:营运资金变动：
– Inventories－存货(36,409)
– Trade receivables－应收货款(61,563)
– Other receivables－其他应收款项(3,810)
– Trade payables－应付货款17,275
– C ontract liabilities, acruals and other
payables
－合 约负债、应计费用及
其他应付款项14,077
Cash generated from operations经营业务所得之现金40,881
| – | 5,672 | 5,672 |
|---|---|---|
| – | (7,376) | (7,376) |
| – | (397) | (397) |
| (34,067) | – | (34,067) |
| – | 13,346 | 13,346 |
| – | 397 | 397 |
| – | (57) | (57) |
| 34,067 | – | 34,067 |
| – | (66) | (66) |
| – | 11,519 | 11,519 |
Notes to the Consolidated Financial Statements
综合财务报表附注
147年报 2024/2025 富士高实业控股有限公司
29 综合现金流量表附注（续）
(b) 融资活动所产生之负债对账如下：
29 Notes to the consolidated statement of cash flows
(Continued)
(b) Reconciliation of liabilities arising from financing activities is
as folows:
Dividend
payable
Lease
liabilitiesTotal
应付股息租赁负债总计
HK$’000HK$’000HK$’000
At 1 April 2023于2023年4月1日–12,50112,501
Cash flows:现金流量：
– Repayment on principal
element of lease liabilities
－偿 还租赁负债之
本金部分–(7,508)(7,508)
– Repayment on interest
portion of lease liabilities
－偿 还租赁负债之
利息部分–(332)(332)
– Dividends paid－已付股息(34,067)–(34,067)
Other non-cash movements:其他非现金变动：
– Aditions of right-of-use asets－使用权资产增加–1,2391,239
– Finance costs－财务成本–332332
– Dividends declared－已宣派股息34,067–34,067
– Exchange diferences－汇兑差额–(560)(560)
At 31 March 2024于2024年3月31日
Cash flows:现金流量：
– Repayment on principal
element of lease liabilities
－偿 还租赁负债之
本金部分
– Repayment on interest
portion of lease liabilities
－偿 还租赁负债之
利息部分
– Dividends paid－已付股息
Other non-cash movements:其他非现金变动：
– Aditions of right-of-use asets－使用权资产增加
– Finance costs－财务成本
– Terminations－终止
– Dividends declared－已宣派股息
– Exchange diferences－汇兑差额
At 31 March 2025于2025年3月31日
| 2025 |
|---|
| HK$’000 |
| 6,552 |
| 2025 |
|---|
| HK$’000 |
| 9 |
Notes to the Consolidated Financial Statements
综合财务报表附注
148Fujikon Industrial Holdings Limited Anual Report 2024/2025
30 承担及或然
(a) 资本承担
本集团之已授权及已订约资本承担如下：
(b) 不可注销之经营租赁
于报告期末，本集团就不可注销之短期及
低价值租赁所承担未来最低租赁付款（只
限固定租金）之到期情况如下：
(c) 或然
本集团继续就品质问题与供应商磋商，以
避免启动任何仲裁程序。其后与供应商协
定的任何补偿将于基本确定时予以确认。
31 退休金责任
本集团安排香港雇员参与由一名独立信托人管
理之定额供款强制性公积金计划（「强积金计
划」）。基金之资产与本集团其他资产分开持
有，并由独立专业基金经理管理。根据强积金
计划，本集团及其雇员均须以强制性公积金法
例所定义之雇员薪金之5%每月向计划作出供
款。诚如强制性公积金条例所界定，雇主及雇
员供款之上限均为每月1,500港元（倘适当），
亦可自愿额外供款。
根据中国法律及法规定，本集团为其中国雇
员向国家资助之退休计划作出供款。雇员须最
多按其基本薪金之8%作出供款，而本集团则
须向退休计划作出其中国雇员基本薪金约14%
至16%之供款，而毋须就其后退休金或退休福
利之实际支付作出任何承担。退休雇员之所有
退休金支付概由国家资助之退休计划承担。
30 Comitments and contingent
(a) Capital comitments
The Group had the folowing authorised and contracted capital
comitments:
HK$’000
Acquisition of machinery and equipment购买机械及设备1,755
(b) Non-cancelable operating leases
At the end of the reporting period, the Group had comitments for
future minimum lease payments under non-cancelable short-term and
low value leases with fixed rent only which fal due as folows:
HK$’000
Not later than one year不超过1年8
(c) Contingent
The Group continues to negotiate with the Suplier on the Quality
Isue to avoid comencement of any arbitration procedings.
Any reimbursement subsequently agred with the Suplier wil be
recognised when it becomes virtualy certain.
31 Pension obligations
The Group has aranged for its Hong Kong employes to join the
Mandatory Provident Fund Scheme (the “MPF Scheme”), a defined
contribution scheme managed by an independent truste. The asets of
the fund are held separately from those of the Group and are managed by
independent profesional fund managers. Under the MPF Scheme, each of
the Group and its employes make monthly contributions to the scheme at
5% of the employes’ earnings as defined under the Mandatory Provident
Fund legislation. Both the employer’s and the employes’ contributions
are subject to a cap of HK$1,500 per month, as apropriate, as defined in
the Mandatory Provident Fund Ordinance, and thereafter contributions are
voluntary.
As stipulated by the rules and regulations in China, the Group contributes
to state-sponsored retirement plans for its employes in China. The
employes contribute up to 8% of their basic salaries, while the Group
contributes to retirement plans aproximately at 14% to 16% of the basic
salaries of its employes in China, and has no further obligations for the
actual payment of pensions or post-retirement benefits. The state-sponsored
retirement plans are responsible for the entire pension obligations payable
to retired employes.
| 2025 |
|---|
| HK$’000 |
| 1,052 |
| 4,622 |
Notes to the Consolidated Financial Statements
综合财务报表附注
149年报 2024/2025 富士高实业控股有限公司
32 关连人士交易
于2025年及2024年3月31日， 本公司董事认为
并无最终控股公司。
(a) 本集团与关连人士之重大交易如下：
关连人士之名称╱交易性质
附注：
(i) 所有该等公司均由本公司董事源而细先生、
周文仁先生及杨少聪先生全资拥有。
本公司董事认为，上述关连人士交易乃于
本集团正常业务过程中进行，并按双方协
定之条款进行。
(b) 主要管理人员薪酬
主要管理人员为本公司执行董事。主要管
理人员之薪酬详见财务报表附注28。
32 Related party transactions
The Company’s directors consider there is no ultimate holding company as
at 31 March 2025 and 2024.
(a) The folowing significant transactions were caried out with
related parties:
Name of related party/nature of transaction
HK$’000
First Suces Technology Limited (i)世嘉科技有限公司(i)
– Lease payment paid/payable by the
Group
－本 集团已╱应付
之租赁付款1,078
The Bright (Donguan) Printing Pres &
Paper Products Factory Ltd (i)
光明（东莞）柯式印务纸品厂
有限公司(i)
– Lease payment paid/payable by the
Group
－本 集团已╱应付之租赁
付款4,672
Note:
(i) Al these companies are wholy owned by Mr. Yuen Ye Sai, Simon,
Mr. Chow Man Yan, Michael and Mr. Yeung Siu Chung, Ben, Directors of
the Company.
In the opinion of the Company’s Directors, the above related party
transactions were conducted in the normal course of busines of
the Group and in acordance with terms mutualy agred by the
respective parties.
(b) Key management compensation
Key management personel are the Company’s executive directors.
Details of compensation of key management personel are disclosed
in Note 28 to the financial statements.
| 2025 |
|---|
| HK$’000 |
| 139,000 |
| 661 |
| 260,440 |
| 828 |
| 261,929 |
| 2,947 |
| 68,607 |
| 174 |
| 71,728 |
| 190,201 |
| 329,201 |
| 42,584 |
| 286,617 |
| 329,201 |
Notes to the Consolidated Financial Statements
综合财务报表附注
150Fujikon Industrial Holdings Limited Anual Report 2024/2025
33 本公司财务状况表及储备变动
(a) 本公司财务状况表
本公司财务状况表已于2025年6月27日获
董事会批准及由以下董事代表签署。
33 Statement of financial position and reserve movement of
the Company
(a) Statement of financial position of the Company
As at 31 March
于3月31日
HK$’000
Non-curent asets非流动资产
Investments in subsidiaries于附属公司之投资139,000
Curent asets流动资产
Other receivables其他应收款项285
Amounts due from subsidiaries应收附属公司款项220,245
Cash and cash equivalents现金及现金等价物377
Total curent asets流动资产总值220,907
Curent liabilities流动负债
Acruals and other payables应计费用及其他应付款项4,949
Amounts due to a subsidiary应付附属公司款项34,354
Tax payable应缴税项–
Total curent liabilities流动负债总值39,303
Net curent asets流动资产净值181,604
Net asets资产净值320,604
Equity权益
Capital and reserves atributable to the
Company’s equity holders
归属本公司股权持有人之
股本及储备
Share capital股本42,584
Reserves储备278,020
Total equity权益总计320,604
The statement of financial position of the Company was aproved by
the Board of Directors on 27 June 2025 and was signed on its behalf.
YEUNG CHI HUNG, JOHNYUEN YE SAI, SIMON
杨志雄源而细
ChairmanJoint Deputy Chairman
主席联席副主席
| 119,642 | 138,800 | 19,578 | 278,020 |
|---|---|---|---|
| – | – | 42,664 | 42,664 |
| – | – | (34,067) | (34,067) |
| 119,642 | 138,800 | 28,175 | 286,617 |
Notes to the Consolidated Financial Statements
综合财务报表附注
151年报 2024/2025 富士高实业控股有限公司
33 本公司财务状况表及储备变动（续）
(b) 本公司储备变动
附注：
(i) 实缴盈余指本公司所发行普通股之面值
与根据2000年3月本集团重组进行换股而
收购一间附属公司资产净值之差额。
34 其他可能重大会计政策概要
34.1 综合账目
本综合财务报表包括本公司及其所有附属
公司截至3月31日止之财务报表。
附属公司指本集团对其具有控制权之实体
（包括结构性实体）。当本集团因参与该实
体而承担可变回报的风险或享有可变回报
的权利，并能够运用其对该实体之权力影
响上述回报时，本集团即对该实体拥有控
制权。附属公司自控制权转移至本集团当
日起综合入账，并于控制权终止之日起停
止综合入账。
集团公司之间之交易、交易之结余及未实
现收益予以对销。未实现亏损亦予以对
销，除非交易提供已转让资产之减值证
据。附属公司所呈报之金额已按需要作出
调整，以确保符合本集团之会计政策。
33 Statement of financial position and reserve movement of
the Company (Continued)
(b) Reserves movement of the Company
Share
premium
Contributed
surplus (i)
Retained
EarningsTotal
股份溢价实缴盈余(i)保留溢利总计
HK$’000HK$’000HK$’000HK$’000
At 1 April 2023于2023年4月1日119,642138,80014,576273,018
Profit and total comprehensive
income for the year
年内溢利及全面
收益总额–39,06939,069
Dividends paid已付股息–(34,067)(34,067)
At 31 March 2024于2024年3月31日
Profit and total comprehensive
income for the year
年内溢利及全面
收益总额
Dividends paid已付股息
At 31 March 2025于2025年3月31日
Note:
(i) Contributed surplus represents the diference betwen the nominal value
of the ordinary shares isued by the Company and the net aset value
of a subsidiary acquired through an exchange of shares pursuant to the
Group’s reorganisation in March 2000.
34 Sumary of other potentialy material acounting
policies
34.1 Consolidation
The consolidated financial statements include the financial statements
of the Company and al its subsidiaries made up to 31 March.
A subsidiary is an entity (including a structured entity) over which
the Group has control. The Group controls an entity when the Group
is exposed to, or has rights to, variable returns from its involvement
with the entity and has the ability to afect those returns through its
power over the entity. Subsidiaries are consolidated from the date on
which control is transfered to the Group. They are deconsolidated
from the date that control ceases.
Intra-group transactions, balances and unrealised gains on
transactions betwen group companies are eliminated. Unrealised
loses are also eliminated unles the transaction provides evidence
of an impairment of the transfered aset. When necesary, amounts
reported by subsidiaries have ben adjusted to conform with the
Group’s acounting policies.
Notes to the Consolidated Financial Statements
综合财务报表附注
152Fujikon Industrial Holdings Limited Anual Report 2024/2025
34 其他可能重大会计政策概要（续）
34.1 综合账目（续）
(a) 业务合并
本集团采纳收购法为业务合并入
账。收购其一附属公司所转让的代
价为所转让资产、被收购方前拥有
人所产生负债及本集团发行股本权
益的公平值。所转让的代价包括或
然代价安排产生的任何资产或负债
的公平值。于业务合并所收购可
识别资产与所承担之负债及或然负
债初步按彼等于收购日之公平值计
算。本集团以个别收购基准按公平
值或非控制性权益占被收购方可识
别资产净值之已确认金额比例，确
认于被收购方之任何非控制性权
益。收购相关成本于产生时支销。
倘业务合并分阶段达成，收购方之
前于被收购方所持有股本权益之收
购日期账面值，于收购日期按公平
值重新计量；重新计量所产生之任
何收益或亏损于损益确认。
倘任何现金代价部分递延结算，则
未来应付金额将折现为交换日之现
值。所用贴现率乃实体之新增借款
利率，即在可比条款及条件下，可
以从独立融资人处获得类似借贷之
利率。或然代价被分类为权益或财
务负债。分类为财务负债之金额随
后重新按公平值计量，公平值变动
计入损益。
已转让代价、于被收购方之任何非
控制性权益及先前于被收购方任何
股本权益之收购日期公平值超逾被
收购可识别资产净值公平值，其差
额确认为商誉。就议价购买而言，
倘已转让代价、已确认非控制性权
益及已计量之先前所持权益之总和
低于所收购附属公司资产净值之公
平值，其差额将直接于损益中确认。
34 Sumary of other potentialy material acounting
policies (Continued)
34.1 Consolidation (Continued)
(a) Busines combinations
The Group aplies the acquisition method to acount for
busines combinations. The consideration transfered for
the acquisition of a subsidiary is the fair values of the asets
transfered, the liabilities incured to the former owners of
the acquire and the equity interests isued by the Group. The
consideration transfered includes the fair value of any aset or
liability resulting from a contingent consideration arangement.
Identifiable asets acquired and liabilities and contingent
liabilities asumed in a busines combination are measured
initialy at their fair values at the acquisition date. The Group
recognises any non-controling interest in the acquire on an
acquisition-by-acquisition basis, either at fair value or at the
non-controling interest’s proportionate share of the recognised
amounts of acquire’s identifiable net asets. Acquisition-related
costs are expensed as incured.
If the busines combination is achieved in stages, the acquisition
date carying value of the acquirer’s previously held equity
interest in the acquire is re-measured to fair value at the
acquisition date; any gains or loses arising from such re-
measurement are recognised in profit or los.
Where setlement of any part of cash consideration is defered,
the amounts payable in the future are discounted to their
present value as at the date of exchange. The discount rate
used is the entity’s incremental borowing rate, being the
rate at which a similar borowing could be obtained from an
independent financier under comparable terms and conditions.
Contingent consideration is clasified either as equity or a
financial liability. Amounts clasified as a financial liability are
subsequently remeasured to fair value with changes in fair value
recognised in profit or los.
The exces of the consideration transfered, the amount of any
non-controling interest in the acquire and the acquisition-
date fair value of any previous equity interest in the acquire
over the fair value of the identifiable net asets acquired is
recorded as godwil. If the total of consideration transfered,
non-controling interest recognised and previously held interest
measured is les than the fair value of the net asets of the
subsidiary acquired in the case of a bargain purchase, the
diference is recognised directly in the profit or los.
Notes to the Consolidated Financial Statements
综合财务报表附注
153年报 2024/2025 富士高实业控股有限公司
34 其他可能重大会计政策概要（续）
34.1 综合账目（续）
(b) 不涉及控制权变更之附属公司所有
权益变动
与非控制性权益之交易倘未导致失
去控制权则按股权交易入账－即按
与附属公司拥有人（以拥有人身份）
进行之交易入账。任何已付代价之
公平值与附属公司资产净值账面值
之已收购相关份额之间的差额于权
益内入账。出售非控制性权益所产
生之收益或亏损亦于权益内入账。
(c) 出售附属公司
倘本集团不再拥有控制权，于该实
体之任何保留权益将按其于失去控
制权当日之公平值重新计量，而账
面值之变动则于损益确认。就后续
入账为联营公司、合营公司或财务
资产之保留权益而言，公平值为初
始账面值。此外，先前就该实体于
其他全面收益确认之任何金额，会
按犹如本集团已直接出售相关资产
或负债入账。这意味著先前于其他
全面收益确认之金额或会重新分类
至损益。
(d) 独立财务报表
于附属公司之投资按成本扣除减值
入账。成本包含投资之直接成本。
附属公司之业绩由本公司按已收及
应收股息入账。
倘股息超过宣派股息期内附属公司
之全面收益总额，或倘于独立财务
报表之投资账面值超过综合财务报
表中被投资方之资产净值，包括商
誉之账面值，则须于收到该等投资
之股息时就于附属公司之投资进行
减值测试。
34.2 分部报告
营运分部按照向主要营运决策人提供的内
部报告贯彻一致的方式报告。主要营运决
策人负责就营运分部分配资源及评估表
现，并已被厘定为共同作出策略性决策之
执行董事。
34 Sumary of other potentialy material acounting
policies (Continued)
34.1 Consolidation (Continued)
(b) Changes in ownership interests in subsidiaries without
change of control
Transactions with non-controling interests that do not result
in a los of control are acounted for as equity transactions
– that is, as transactions with the owners of the subsidiary in
their capacity as owners. The diference betwen fair value of
any consideration paid and the relevant share acquired of the
carying amount of net asets of the subsidiary is recorded in
equity. Gains or loses on disposals to non-controling interests
are also recorded in equity.
(c) Disposal of subsidiaries
When the Group ceases to have control, any retained interest
in the entity is re-measured to its fair value at the date when
control is lost, with the change in carying amount recognised
in profit or los. The fair value is the initial carying amount
for the purposes of subsequently acounting for the retained
interest as an asociate, joint venture or financial aset.
In adition, any amounts previously recognised in other
comprehensive income in respect of that entity are acounted
for as if the Group had directly disposed of the related asets or
liabilities. This may mean that amounts previously recognised in
other comprehensive income are reclasified to profit or los.
(d) Separate financial statements
Investments in subsidiaries are acounted for at cost les
impairment. Cost includes direct atributable costs of investment.
The results of subsidiaries are acounted for by the Company on
the basis of dividend received and receivable.
Impairment testing of the investments in subsidiaries is required
upon receiving a dividend from these investments if the dividend
exceds the total comprehensive income of the subsidiary in
the period the dividend is declared or if the carying amount of
the investment in the separate financial statements exceds the
carying amount in the consolidated financial statements of the
investe’s net asets including godwil.
34.2 Segment reporting
Operating segments are reported in a maner consistent with the
internal reporting provided to CODM. CODM, who is responsible
for alocating resources and asesing performance of the operating
segments, has ben identified as the executive directors who
colectively make strategic decisions.
Notes to the Consolidated Financial Statements
综合财务报表附注
154Fujikon Industrial Holdings Limited Anual Report 2024/2025
34 其他可能重大会计政策概要（续）
34.3 投资物业
持作收取长期租金收益或资本增值或两者
兼备且并非合并集团旗下各公司所占用之
物业归类为投资物业。
投资物业最初以其成本计算，包括相关交
易成本。
在首次确认后，投资物业按公平值入账。
公平值乃以活跃市场价格为基础，于必要
时就指定资产之性质、地点或状况之任何
差异作出调整。若未能获得此等资料，本
集团便采用较不活跃市场之近期价格或折
现金流量预测等其他估值方法。该等估
值每年由外部估值师进行评审。
投资物业之公平值反映，其中包括现时租
赁之租金收入及以现时市况预计日后租赁
取得之租金收入。
其后开支只有在与该项目有关的未来经济
利益可能流入本集团，而该项目的成本能
可靠计量时，才可计入该项资产之账面
值。所有其他维修及保养成本于其产生之
财政期间之综合全面收益表内列作开支。
公平值之变动计入综合全面收益表中。
倘投资物业转作自用，该物业将重新分类
为物业、厂房及设备，以重新分类日期之
公平值作为成本列账。
倘物业、厂房及设备各项因用途改变而成
为投资物业，其于转变当日之账面值与公
平值之任何差额，将根据香港会计准则
第16号于权益内确认为物业、厂房及设
备重估储备。然而，倘公平值收益拨回过
往减值亏损，则该项收益将于综合全面收
益表中确认。
34.4 无形资产
网站开发按收购及特定平台投入使用所产
生的成本为基准资本化。该等成本按其估
计可使用年期（3年）摊销。
34 Sumary of other potentialy material acounting
policies (Continued)
34.3 Investment property
Property that is held for long-term rental yields or for capital
apreciation or both, and that is not ocupied by the companies in
the consolidated group, is clasified as investment property.
Investment property is measured initialy at its cost, including related
transaction costs.
After initial recognition, investment property is caried at fair value.
Fair value is based on active market prices, adjusted, if necesary,
for any diference in the nature, location or condition of the specific
aset. If this information is not available, the Group uses alternative
valuation methods such as recent prices on les active markets or
discounted cash flow projections. These valuations are reviewed
anualy by external valuers.
The fair value of investment property reflects, among other things,
rental income from curent leases and asumptions about rental
income from future leases in the light of curent market conditions.
Subsequent expenditure is charged to the aset’s carying amount only
when it is probable that future economic benefits asociated with the
item wil flow to the Group and the cost of the item can be measured
reliably. Al other repairs and maintenance costs are expensed in the
consolidated statement of comprehensive income during the financial
period in which they are incured.
Changes in fair values are recognised in the consolidated statement of
comprehensive income.
If an investment property becomes owner-ocupied, it is reclasified
as property, plant and equipment, and its fair value at the date of
reclasification becomes its cost for acounting purposes.
If an item of property, plant and equipment becomes an investment
property because its use has changed, any diference betwen the
carying amount and the fair value of this item at the date of transfer
is recognised in equity as a revaluation reserve of property, plant and
equipment under HKAS 16. However, if a fair value gain reverses a
previous impairment los, the gain is recognised in the consolidated
statement of comprehensive income.
34.4 Intangible aset
Website development is capitalised on the basis of the costs incured
to acquire and bring to use the specific platform. These costs are
amortised over their estimated useful lives (3 years).
Notes to the Consolidated Financial Statements
综合财务报表附注
155年报 2024/2025 富士高实业控股有限公司
34 其他可能重大会计政策概要（续）
34.5 抵销金融工具
当有法定可执行权利可抵销已确认金额，
并有意图按净额基准结算或同时变现资产
及结算负债时，财务资产与负债可互相抵
销，并把净额于综合财务状况表内列账。
本集团亦已订立不符合抵销标准但仍允许
相关金额于若干情况下（例如破产或合约
终止）被抵销之安排。
34.6 应付货款及其他应付款项
该等金额代表于财政年度结束前向本集团
提供商品或服务之未付负债。倘应付货款
及其他应付款项之支付日期在一年或以
内（如仍在正常经营周期中，则可较长时
间），其被呈列为流动负债；否则分类为
非流动负债。
应付货款及其他应付款项初步按公平值确
认，随后使用实际利率法按摊销成本计
量。
34.7 股本
普通股分类为权益。
发行新股或购股权直接递增成本乃于权益
内列作所得款项之扣减，扣除税项。
34.8 租赁
租赁于租赁资产可供本集团使用当日确认
为使用权资产及相应负债。
合约可能包含租赁及非租赁组成部分。本
集团根据其相对独立价格将合约代价分配
至租赁及非租赁组成部分。然而，就本集
团作为承租人的房地产租赁而言，其选择
不将租赁及非租赁组成部分区分开来，而
是将两者入账为单一租赁组成部分。
34 Sumary of other potentialy material acounting
policies (Continued)
34.5 Ofseting financial instruments
Financial asets and liabilities are ofset and the net amount reported
in the consolidated statement of financial position when there is
a legaly enforceable right to ofset the recognised amounts and
there is an intention to setle on a net basis or realise the aset and
setle the liability simultaneously. The Group has also entered into
arangements that do not met the criteria for ofseting but stil
alow for the related amounts to be set of in certain circumstances,
such as bankruptcy of the termination of a contract.
34.6 Trade and other payables
These amounts represent liabilities for gods or services provided to
the Group prior to the end of financial year which are unpaid. Trade
and other payables are clasified as curent liabilities if payment
is due within one year or les (or in normal operating cycle of the
busines if longer). If not, they are presented as non-curent liabilities.
Trade and other payables are recognised initialy at fair value and
subsequently measured at amortised cost using the efective interest
method.
34.7 Share capital
Ordinary shares are clasified as equity.
Incremental costs directly atributable to the isue of new shares
or options are shown in equity as a deduction, net of tax, from the
proceds.
34.8 Leases
Leases are recognised as a right-of-use aset and a coresponding
liability at the date at which the leased aset is available for use by
the Group.
Contracts may contain both lease and non-lease components. The
Group alocates the consideration in the contract to the lease and
non-lease components based on their relative stand-alone prices.
However, for leases of real estate for which the Group is a lese,
it has elected not to separate lease and non-lease components and
instead acounts for these as a single lease component.
Notes to the Consolidated Financial Statements
综合财务报表附注
156Fujikon Industrial Holdings Limited Anual Report 2024/2025
34 其他可能重大会计政策概要（续）
34.8 租赁（续）
租赁产生之资产及负债初步按现值基准计
量。租赁负债包括下列租赁付款的净现
值：
- （包括实质固定付款），减
去任何应收租赁优惠；及
• 基于一项指数或比率之可变租赁付
款，于开始日期采用指数或比率初
步计量。
将根据合理确定续期选择权而作出的租赁
付款亦计入负债计量中。
租赁付款按租赁内隐含的利率贴现。倘无
法轻易厘定该利率（本集团之租赁一般属
此类情况），则采用承租人之新增借款利
率，即个别承租人在类似经济环境内以类
似条款、抵押及条件为取得与使用权资产
类似价值的资产借入所需资金而需支付的
利率。
为厘定新增借款利率，本集团以个别承租
人最近获得的第三方融资为起点，并进行
调整以反映自获得第三方融资以来融资条
件的变动。
租赁付款于本金及融资成本间作出分配。
融资成本于租期内在损益扣除，从而计算
出各期间负债余额的固定周期利率。
使用权资产按成本计量，当中包括下列
各项：
- ；及
- 。
使用权资产一般按资产可使用年期及租期
（以较短者为准）以直线法折旧。倘本集团
合理确定行使购买选择权，则使用权资产
按相关资产可使用年期折旧。本集团对其
土地及楼宇（于物业、厂房及设备内呈列）
进行重新估值，但选择不就本集团所持有
的使用权楼宇进行重新估值。
34 Sumary of other potentialy material acounting
policies (Continued)
34.8 Leases (Continued)
Asets and liabilities arising from a lease are initialy measured on a
present value basis. Lease liabilities include the net present value of
the folowing lease payments:
- , les any
lease incentives receivable; and
• variable lease payment that are based on an index or a
rate, initialy measured using the index or rate as at the
comencement date.
Lease payments to be made under reasonably certain extension
options are also included in the measurement of the liability.
The lease payments are discounted using the interest rate implicit in
the lease. If that rate canot be readily determined, which is generaly
the case for leases in the Group, the lese’s incremental borowing
rate is used, being the rate that the individual lese would have to
pay to borow the funds necesary to obtain an aset of similar value
to the right-of-use aset in a similar economic environment with
similar terms, security and conditions.
To determine the incremental borowing rate, the Group uses recent
third-party financing received by the individual lese as a starting
point, adjusted to reflect changes in financing conditions since third
party financing was received.
Lease payments are alocated betwen principal and finance cost. The
finance cost is charged to profit or los over the lease period so as to
produce a constant periodic rate of interest on the remaining balance
of the liability for each period.
Right-of-use asets are measured at cost comprising the folowing:
- ; and
• any initial direct costs.
Right-of-use asets are generaly depreciated over the shorter of the
aset’s useful life and the lease term on a straight-line basis. If the
Group is reasonably certain to exercise a purchase option, the right-
of-use aset is depreciated over the underlying aset’s useful life.
While the Group revalues its land and buildings that are presented
within property, plant and equipment, it has chosen not to do so for
the right-of-use buildings held by the Group.
Notes to the Consolidated Financial Statements
综合财务报表附注
157年报 2024/2025 富士高实业控股有限公司
34 其他可能重大会计政策概要（续）
34.8 租赁（续）
设备及汽车短期租赁及所有低价值资产租
赁的相关付款按直线法在损益内确认为开
支。短期租赁指租期为12个月或以下的
租赁。低价值资产包括资讯科技设备及小
型办公室家私项目。
本集团作为出租人的经营租赁产生的租赁
收入按直线法于租期内确认为收入。获取
经营租赁产生的初始直接成本计入相关资
产的账面值，并于租期内以与租赁收入相
同的基准确认为开支。有关租赁资产按其
性质计入综合财务状况表。采纳新租赁准
则后，本集团无需对作为出租人所持有资
产的会计处理作出任何调整。
34.9 财务担保
财务担保合约于作出担保时确认为财务负
债。该负债初始以公平值计量，随后采用
下列二者其中较高者计量：
• 根据香港财务报告准则第9号之预期
信贷亏损模式厘定之金额；及
- （如适用）根据香
港财务报告准则第15号「客户合约收
益」之原则确认之累计收入金额。
财务担保之公平值根据债务工具要求之合
约付款及在没有担保之情况下所要求之付
款，或承担该责任而向第三方支付之估计
金额之间现金流量差额之现值厘定。
如有关联营公司之贷款或其他应付款项之
担保是以免偿方式提供，则以公平值入账
为注资并确认为投资成本的部分。
34.10 股息分派
向本公司股东分派的股息在股息获本公司
股东或董事（如适用）批准的期间于本集团
及本公司财务报表确认为负债。
34 Sumary of other potentialy material acounting
policies (Continued)
34.8 Leases (Continued)
Payments asociated with short-term leases of equipment and vehicles
and al leases of low-value asets are recognised on a straight-line
basis as an expense in profit or los. Short-term leases are leases
with a lease term of 12 months or les. Low-value asets comprise IT
equipment and smal items of ofice furniture.
Lease income from operating leases where the Group is a lesor is
recognised in income on a straight-line basis over the lease term.
Initial direct costs incured in obtaining an operating lease are aded
to the carying amount of the underlying aset and recognised as
expense over the lease term on the same basis as lease income. The
respective leased asets are included in the consolidated statement of
financial position based on their nature. The Group did not ned to
make any adjustments to the acounting for asets held as lesor as a
result of adopting the new leasing standard.
34.9 Financial guarantes
Financial guarante contracts are recognised as a financial liability at
the time the guarante is isued. The liability is initialy measured at
fair value and subsequently at the higher of:
• the amount determined in acordance with the expected credit
los model under HKFRS 9; and
- , where apropriate, the
cumulative amount of income recognised in acordance with
the principles of HKFRS 15 “Revenue from contracts with
customers”.
The fair value of financial guarantes is determined based on the
present value of the diference in cash flows betwen the contractual
payments required under the debt instrument and the payments that
would be required without the guarante, or the estimated amount
that would be payable to a third party for asuming the obligations.
Where guarantes in relation to loans or other payables of asociates
are provided for no compensation, the fair values are acounted for
as contributions and recognised as part of the cost of the investment.
34.10 Dividend distribution
Dividend distribution to the Company’s shareholders is recognised
as a liability in the Group’s and the Company’s financial statements
in the period in which the dividends are aproved by the Company’s
shareholders or directors, as apropriate.
Notes to the Consolidated Financial Statements
综合财务报表附注
158Fujikon Industrial Holdings Limited Anual Report 2024/2025
34 其他可能重大会计政策概要（续）
34.11 政府补贴
当能够合理地保证政府补贴将可收取，而
本集团将会符合所有附带条件时，政府提
供的补贴将按其公平值确认入账。
有关成本的政府补贴将被递延，并与其拟
定补偿的成本配对在所需期间内于综合全
面收益表中确认。
与购置物业、厂房及设备或无形资产有关
之政府补贴与相关资产抵扣。有关补贴按
可折旧资产之年期于损益内确认为已扣减
折旧开支。
34.12 或然资产及负债
或然资产是指因过往事件而可能产生之资
产，而其存在只能就本集团控制范围以外
之一宗或多宗不确定未来事件之出现与否
而确定。或然资产不予确认，惟会于可能
收到经济效益时在综合财务报表中披露。
倘实质确定可实现经济效益时，该或然资
产方可确认
或然负债指因为过往事件而可能引起之责
任，而其存在只能就本集团控制范围以外
之一宗或多宗不确定未来事件之出现与否
而确定。或然负债亦可能是因为过往事件
引致之现有责任，但由于可能不需要有经
济资源流出，或承担金额不能可靠计量而
未有确认。
或然负债不予确认，惟会在综合财务报表
中披露。倘资源流出之可能性改变导致可
能出现资源流出或承担金额能可靠计量，
则确认为拨备。
34 Sumary of other potentialy material acounting
policies (Continued)
34.11 Government grants
Grants from the government are recognised at their fair value where
there is a reasonable asurance that the grant wil be received and
the Group wil comply with al atached conditions.
Government grants relating to costs are defered and credited to the
consolidated statement of comprehensive income over the period
necesary to match them with the costs that they are intended to
compensate.
Government grants related to purchase of property, plant and
equipment or intangible aset are deducted against the related asets.
The grant is recognised in profit or los over the life of a depreciable
aset as a reduced depreciation expense.
34.12 Contingent aset and liability
A contingent aset is a posible aset that arises from past events
and whose existence wil only be confirmed by the ocurence or
non–ocurence of one or more uncertain future events not wholy
within the control of the Group. It is not recognised but is disclosed
in the consolidated financial statements where an inflow of economic
benefits is probable. It is recognised when the realisation of income is
virtualy certain.
A contingent liability is a posible obligation that arises from past
events and whose existence wil only be confirmed by the ocurence
or non–ocurence of one or more uncertain future events not wholy
within the control of the Group. It can also be a present obligation
arising from past events that is not recognised because it is not
probable that outflow of economic resources wil be required or the
amount of obligation canot be measured reliably.
A contingent liability is not recognised but is disclosed in the
consolidated financial statements. When a change in the probability
of an outflow ocurs so that outflow is probable or when the amount
of obligation becomes reliably measurable, it wil then be recognised
as a provision.
Corporate Information
公司资料
159年报 2024/2025 富士高实业控股有限公司
董事会
执行董事
杨志雄先生（主席兼行政总裁）
源而细先生（联席副主席）
周文仁先生（联席副主席）
源子敬先生
杨少聪先生
独立非执行董事
吴宏斌博士
车伟恒先生
谢勤女士（于2024年6月1日起获委任）
李耀斌先生（于2024年6月1日起辞任）
审核委员会
谢勤女士（主席）（于2024年6月1日起获委任）
李耀斌先生（主席）（于2024年6月1日起辞任）
吴宏斌博士
车伟恒先生
薪酬委员会
车伟恒先生（主席）
吴宏斌博士
谢勤女士（于2024年6月1日起获委任）
李耀斌先生（于2024年6月1日起辞任）
杨志雄先生
提名委员会
杨志雄先生（主席）
吴宏斌博士
车伟恒先生
谢勤女士（于2024年6月1日起获委任）
李耀斌先生（于2024年6月1日起辞任）
公司秘书
源子敬先生
注册办事处
Victoria Place, 5th Flor
31 Victoria Stret
Hamilton HM 10
Bermuda
Board of Directors
Executive Directors
Mr. Yeung Chi Hung, Johny (Chairman & Chief Executive Oficer)
Mr. Yuen Ye Sai, Simon (Joint Deputy Chairman)
Mr. Chow Man Yan, Michael (Joint Deputy Chairman)
Mr. Yuen Chi King, Wyman
Mr. Yeung Siu Chung, Ben
Independent Non-Executive Directors
Dr. Ng Wang Pun, Denis
Mr. Che Wai Hang, Alen
Ms. Tse Kan (apointed with efect from 1 June 2024)
Mr. Le Yiu Pun (resigned with efect from 1 June 2024)
Audit Comite
Ms. Tse Kan (Chairman) (apointed with efect from 1 June 2024)
Mr. Le Yiu Pun (Chairman) (resigned with efect from 1 June 2024)
Dr. Ng Wang Pun, Denis
Mr. Che Wai Hang, Alen
Remuneration Comite
Mr. Che Wai Hang, Alen (Chairman)
Dr. Ng Wang Pun, Denis
Ms. Tse Kan (apointed with efect from 1 June 2024)
Mr. Le Yiu Pun (resigned with efect from 1 June 2024)
Mr. Yeung Chi Hung, Johny
Nomination Comite
Mr. Yeung Chi Hung, Johny (Chairman)
Dr. Ng Wang Pun, Denis
Mr. Che Wai Hang, Alen
Ms. Tse Kan (apointed with efect from 1 June 2024)
Mr. Le Yiu Pun (resigned with efect from 1 June 2024)
Company secretary
Mr. Yuen Chi King, Wyman
Registered ofice
Victoria Place, 5th Flor
31 Victoria Stret
Hamilton HM 10
Bermuda
Corporate Information
公司资料
160Fujikon Industrial Holdings Limited Anual Report 2024/2025
总办事处及主要营业地点
香港新界沙田
沙田乡事会路138号
新城市中央广场
第1座16楼
百慕达主要股份过户登记处
Ocorian Management (Bermuda) Limited
Victoria Place, 5th Flor
31 Victoria Stret
Hamilton HM 10
Bermuda
香港股份过户登记分处
香港中央证券登记有限公司
香港湾仔
皇后大道东183号
合和中心
17楼1712-1716号舖
核数师
罗兵咸永道会计师事务所
香港执业会计师
注册公众利益实体核数师
香港中环
太子大厦22楼
律师
赵不渝马国强律师事务所
香港
康乐广场1号
怡和大厦40楼
主要往来银行
渣打银行（香港）有限公司
公共关系顾问
纵横财经公关顾问有限公司
香港金钟夏悫道18号
海富中心第一期24楼
Head ofice and principal place of busines
16th Flor, Tower 1
Grand Central Plaza
138 Shatin Rural Comite Road
Shatin, New Teritories, Hong Kong
Bermuda principal share registrar and transfer ofice
Ocorian Management (Bermuda) Limited
Victoria Place, 5th Flor
31 Victoria Stret
Hamilton HM10
Bermuda
Hong Kong branch share registrar and transfer ofice
Computershare Hong Kong Investor Services Limited
Shops 1712-1716, 17th Flor
Hopewel Centre
183 Quen’s Road East
Wanchai, Hong Kong
Auditor
PricewaterhouseCopers
Certified Public Acountants
Registered Public Interest Entity Auditor
22nd Flor, Prince’s Building
Central, Hong Kong
Solicitors
Chiu & Partners
40th Flor, Jardine House
1 Conaught Place
Hong Kong
Principal Banker
Standard Chartered Bank (Hong Kong) Limited
Public relations consultant
Strategic Financial Relations Limited
24/F., Admiralty Centre I,
18 Harcourt Road, Hong Kong
| 富士高实业控股有限公司 Annual Report 2024/2025 年报 |
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2024/2025
年报Anual Report