01489 GC CONSTRUCTION 财务报表/环境、社会及管治资料：2024/2025 年报
(incorporated in theCaymanIslands with limited liability)
Stock Code : 1489
2024/25
ANUAL REPORT年
报
2Corporate Information
公司资料
4Financial Highlights
财务概要
5Chairman’s Statement
主席报告
7Management Discusion and Analysis
管理层讨论与分析
14Biography of Directors and Senior Management
董事及高级管理层履历
20Corporate Governance Report
企业管治报告
40Report of the Directors
董事会报告
61Environmental, Social and Governance Report
环境、社会及管治报告
112Independent Auditor’s Report
独立核数师报告
120Consolidated Statement of Comprehensive Income
综合全面收入表
121Consolidated Statement of Financial Position
综合财务状况表
123Consolidated Statement of Changes in Equity
综合权益变动表
124Consolidated Statement of Cash Flows
综合现金流量表
125Notes to the Consolidated Financial Statements
综合财务报表附注
204Sumary of Financial Information
财务资料概要
CONTENTS
目录
CORPORATE INFORMATION
公司资料
2GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
BOARD OF DIRECTORS
Executive Directors
Mr. Chan Kiu Sum (Chairman and Chief Executive Oficer)
Mr. Chan Wing Ping
Ms. Chan Chui Ying
Independent non-executive Directors
Dr. Huang Hong
Mr. Yu Chi Wing
Dr. Lo Ki Chiu
Dr. Luk Che Chung, JP
AUDIT COMITE
Mr. Yu Chi Wing (Chairperson)
Dr. Huang Hong
Dr. Lo Ki Chiu
Dr. Luk Che Chung, JP
REMUNERATION COMITE
Dr. Huang Hong (Chairperson)
Mr. Chan Kiu Sum
Mr. Yu Chi Wing
Dr. Luk Che Chung, JP
NOMINATION COMITE
Mr. Chan Kiu Sum (Chairperson)
Dr. Huang Hong
Dr. Lo Ki Chiu
Dr. Luk Che Chung, JP
REGISTERED OFICE IN THE CAYMAN ISLANDS
71 Fort Stret
PO Box 500
George Town
Grand Cayman KY1-1106
Cayman Islands
HEADQUARTERS AND PRINCIPAL PLACE OF
BUSINES IN HONG KONG
Unit 909, 9th Flor, Tower 1
Cheung Sha Wan Plaza
833 Cheung Sha Wan Road
Kowlon
Hong Kong
CAYMAN ISLANDS PRINCIPAL SHARE
REGISTRAR AND TRANSFER OFICE
Apleby Global Services (Cayman) Limited
71 Fort Stret
PO Box 500
George Town
Grand Cayman KY1-1106
Cayman Islands
董事会
执行董事
陈桥森先生（主席兼行政总裁）
陈永平先生
陈翠盈小姐
独立非执行董事
黄虹博士
于志荣先生
卢其钊博士
陆志聪医生，太平绅士
审核委员会
于志荣先生（主席）
黄虹博士
卢其钊博士
陆志聪医生，太平绅士
薪酬委员会
黄虹博士（主席）
陈桥森先生
于志荣先生
陆志聪医生，太平绅士
提名委员会
陈桥森先生（主席）
黄虹博士
卢其钊博士
陆志聪医生，太平绅士
开曼群岛注册办事处
71 Fort Stret
PO Box 500
George Town
Grand Cayman KY1-1106
Cayman Islands
总部及香港主要营业地点
香港
九龙
长沙湾道833号
长沙湾广场
1期9楼909室
开曼群岛股份过户登记总处
Apleby Global Services (Cayman) Limited
71 Fort Stret
PO Box 500
George Town
Grand Cayman KY1-1106
Cayman Islands
32024/25 年期 • GC CONSTRUCTION HOLDINGS LIMITED
CORPORATE INFORMATION
公司资料
公司秘书
余子敖先生
授权代表
陈桥森先生
余子敖先生
核数师
奥柏国际会计师事务所
执业会计师
注册公众利益实体核数师
香港
中环
些利街2-4号
L Tower 21楼A室
主要往来银行
中国银行（香港）有限公司
香港
花园道1号
香港股份过户登记分处
宝德隆证券登记有限公司
香港
北角
电气道148号
21楼2103B室
公司网址
w.chankiu.hk
投资者关系联络
Info@chankiu.hk
股份代号
COMPANY SECRETARY
Mr. Yu Tsz Ngo
AUTHORISED REPRESENTATIVES
Mr. Chan Kiu Sum
Mr. Yu Tsz Ngo
AUDITOR
OP CPA & Co.
Certified Public Acountants
Registered Public Interest Entity Auditor
Unit A, 21/F, L Tower
2-4 Shely Stret
Central
Hong Kong
PRINCIPAL BANKER
Bank of China (Hong Kong) Limited
1 Garden Road
Hong Kong
HONG KONG BRANCH SHARE REGISTRAR
AND TRANSFER OFICE
Boardrom Share Registrars (HK) Limited
2103B, 21st Flor
148 Electric Road
North Point
Hong Kong
COMPANY’S WEBSITE
w.chankiu.hk
INVESTOR RELATIONS CONTACT
Info@chankiu.hk
STOCK CODE
FINANCIAL HIGHLIGHTS
财务概要
4GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
For the year ended 31 March 2025
截至2025年3月31日止年度
– Revenue decreased from aproximately HK$585.2 milion for
the year ended 31 March 2024 to aproximately HK$530.7
milion for the year ended 31 March 2025, representing a
decrease of aproximately HK$54.5 milion or 9.3%.
– Gros profit decreased from aproximately HK$41.8 milion for
the year ended 31 March 2024 to aproximately HK$2.1 milion
for the year ended 31 March 2025, representing a decrease of
aproximately HK$39.7 milion.
– The Group recorded a los and total comprehensive expense
for the year atributable to owners of the Company of
aproximately HK$53.5 milion for the year ended 31 March
2025 (2024: a profit and total comprehensive income of
aproximately HK$19.1 milion).
– Basic los per share atributable to owners of the Company was
aproximately HK5.3 cents for the year ended 31 March 2025
(2024: basic earnings per share of aproximately HK1.9 cents).
– The Board has resolved not to recomend the declaration of a
final dividend for the years ended 31 March 2025 (2024: nil).
－ 收入由截至2024年3月31日止年度约585.2
百万港元减少至截至2025年3月31日止年度
约530.7百万港元，相当于减少约54.5百万
港元或9.3%。
－ 毛利由截至2024年3月31日止年度约41.8百
万港元减少至截至2025年3月31日止年度
约2.1百万港元，相当于减少约39.7百万港
元。
－ 本集团于截至2025年3月31日止年度录得本
公司拥有人应占年内亏损及全面开支总额
约53.5百万港元（2024年：溢利及全面收益
总额约19.1百万港元）。
－ 截至2025年3月31日止年度的本公司拥有人
应占每股基本亏损约为5.3港仙（2024年：
每股基本盈利约1.9港仙）。
－ 董事会已议决不建议宣派截至2025年3月31
日止年度的末期股息（2024年：无）。
CHAIRMAN’S STATEMENT
主席报告
52024/25 年期 • GC CONSTRUCTION HOLDINGS LIMITED
Dear Shareholders,
The board (the “Board”) of directors (the “Directors”) of GC
Construction Holdings Limited (the “Company”) is pleased to present
the consolidated anual results of the Company and its subsidiaries
(colectively, the “Group”) for the year ended 31 March 2025,
together with the comparative figures for the year ended 31 March
2024.
The shares of the Company (the “Shares”) were sucesfuly listed
on the Main Board of The Stock Exchange of Hong Kong Limited
(the “Stock Exchange”) on 10 October 2022 (the “Listing Date”) by
way of share ofer (the “Share Ofer”) (the “Listing”). The Group is a
wet trades contractor in Hong Kong and construction subcontractor
in Cambodia. The wet trades works performed by the Group mainly
included plastering, tile laying, brick laying, flor screding and
marble works.
As Hong Kong’s property market continued to face weak demand
and declining sentiment for the year ended 31 March 2025, the
Group, as a wet trades contractor, encountered growing operational
and financial presures. First, to remain competitive and sustain
project pipelines, the Group was compeled to tender contracts at
low gros profit margins. Developers and main contractors, seking
to control costs amid market uncertainty, agresively pushed down
prices. Consequently, the Group acepted contracts with minimal
profitability merely to secure work and kep operations runing,
severely impacting overal earnings and weakening performance.
Second, due to cash flow constraints caused by slow property
sales, many developers delayed payments to main contractors, who
in turn tightened payment schedules for subcontractors. This led
to prolonged payment cycles for the Group. Third, as developers
strugled to sel completed units, numerous construction projects
were delayed. These delays resulted in higher overhead and
labor costs for subcontractors, contributing to cost overuns and
operational ineficiencies for the Group.
Revenue decreased from aproximately HK585.2 milion for the year
ended 31 March 2024 to aproximately HK530.7 milion for the
year ended 31 March 2025, a decrease of HK$54.5 milion or 9.3%.
This drop was driven by a reduced number of construction projects,
as many developers postponed or scaled back new developments
amid the property market slowdown, limiting oportunities for
subcontractors. In response, the Group intensified cost control
measures and pursued new busines oportunities outside Hong
Kong. Notably, it secured a construction project in Cambodia during
the year ended 31 March 2025, aplying its expertise and standards
while colaborating with Cambodian developers and contractors.
各位股东：
GC Construction Holdings Limited（「本公司」）董
事（「董事」）会（「董事会」）欣然呈报本公司及其
附属公司（统称「本集团」）截至2025年3月31日
止年度的综合年度业绩，连同截至2024年3月31
日止年度的比较数字。
本公司股份（「股份」）于2022年10月10日（「上市
日期」）通过股份发售（「股份发售」）方式在香港
联合交易所有限公司（「联交所」）主板成功上市
（「上市」）。本集团为香港泥水承建商及柬埔寨
建筑分包商。本集团进行的泥水工程主要包括
批荡、瓷砖铺设、砌砖、铺设地台及云石工程。
随著香港房地产市场在截至2025年3月31日止年
度持续面临需求疲软及市场情绪下滑，作为泥
水承建商，本集团面临日益严重的营运及财务
压力。首先，为维持竞争力并确保项目管道，本
集团被迫以低毛利投标合约。开发商及总承包
商为在市场不确定性下控制成本，积极压低价
格。因此，集团仅为确保工作量并维持营运，不
得不接受利润微薄的合约，这对整体收益造成
严重影响并削弱了业绩表现。其次，由于房地
产销售缓慢导致现金流紧张，许多开发商延迟
向总承包商付款，总承包商进而收紧了对分包
商的付款时程。这导致集团的付款周期延长。
第三，由于开发商难以出售已完工单位，众多
建筑项目遭到延迟。这些延误导致分包商的营
运成本和劳动力成本上升，进而导致集团成本
超支和营运效率低下。
收入从截至2024年3月31日止年度的约585.2百
万港元下降至截至2025年3月31日止年度的约
530.7百万港元，减少约54.5百万港元或9.3%。
这一下降主要由于建筑项目数量减少，许多开
发商在房地产市场放缓的情况下推迟或缩减了
新开发项目，限制了分包商的业务机会。为此，
本集团加强了成本控制措施，并寻求香港以外
的新业务机会。值得注意的是，本集团在截至
2025年3月31日止年度内于柬埔寨获得了一个建
筑项目，运用其专业知识和标准，并与柬埔寨
开发商及承包商合作。
6GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
CHAIRMAN’S STATEMENT
主席报告
Given the deteriorating economic outlok and worsening credit
profiles of customers, the Group recognized a significant expected
credit los provision, reflecting heightened bad debt risks from
developers and main contractors potentialy unable to setle
outstanding balances. This provision further strained the Group’s
profitability, compounding the efects of slim margins and payment
delays.
As at 31 March 2025, the Group had 32 projects (2024: 61 projects)
on hand with backlog value of aproximately HK$343.3 milion
(2024: aproximately HK$564.8 milion).
PROSPECTS
Over the past year, Hong Kong’s slugish real estate market has
reduced demand for new residential and comercial developments,
increasing risks for construction projects–particularly for
subcontractors like wet trade works companies, which often operate
on tight margins and rely on timely payments. To navigate this
uncertainty, the Group is strategicaly shifting away from high-risk
projects, focusing instead on those with more stable payment
terms. It is prioritizing partnerships with trusted developers and
main contractors with strong payment track records while avoiding
large-scale developments prone to delays or cancelations due to
financing isues.
APRECIATION
The Board would like to expres its sincere gratitude to the
management of the Group and al the staf for their hard work and
dedication, as wel as its shareholders, busines asociates and other
profesional parties for their suport throughout the period.
Chan Kiu Sum
Chairman and Executive Director
Hong Kong, 25 June 2025
鉴于经济前景恶化及客户信用状况恶化，本集
团确认了重大预期信用损失拨备，反映开发商
及主要承包商可能无法结清未付余额所带来的
坏帐风险升高。此项拨备进一步压缩集团获利
能力，加剧了利润率偏低及付款延迟的影响。
于2025年3月31日，本集团手头有32个项目
（2024年：61个项目），积存项目价值约343.3百
万港元（2024年：约564.8百万港元）。
前景
过去一年，香港房地产市场疲软，导致对新住
宅及商业开发项目需求减少，增加了建筑项目
的风险，尤其是对利润率较低且依赖及时付款
的分包商，如泥水工程公司。为应对这一不确
定性，本集团正战略性地远离高风险项目，转
而专注于那些付款条款更稳定的项目。优先考
虑与信誉良好且付款记录良好的开发商及总承
包商合作，同时避免参与因融资问题而容易出
现延误或取消的大型开发项目。
致谢
董事会谨此就期内本集团管理层及全体员工的
不懈努力及竭诚奉献以及股东、业务合作伙伴
及其他专业人士的支持深表谢意。
主席兼执行董事
陈桥森
香港，2025年6月25日
MANAGEMENT DISCUSION AND ANALYSIS
管理层讨论与分析
72024/25 年期 • GC CONSTRUCTION HOLDINGS LIMITED
FINANCIAL REVIEW
Revenue
The revenue decreased from aproximately HK$585.2 milion for
the year ended 31 March 2024 to aproximately HK$530.7 milion
for the year ended 31 March 2025, representing a decrease of
aproximately HK$54.5 milion or 9.3%. The decrease in revenue
was mainly driven by the decrease in the number of projects awarded
during the year ended 31 March 2025.
Cost of Services
The cost of services mainly comprised subcontracting fes, cost of
materials and tolings and direct labour costs.
The cost of services decreased from aproximately HK$543.3 milion
for the year ended 31 March 2024 to aproximately HK$528.5
milion for the year ended 31 March 2025, representing a decrease
of aproximately HK$14.8 milion or 2.7%. The decrease in cost
of services was caused by the decrease in the number of projects
awarded during the year ended 31 March 2025.
Gros Profit and Gros Profit Margin
The gros profit decreased from aproximately HK$41.8 milion for
the year ended 31 March 2024 to aproximately HK$2.1 milion
for the year ended 31 March 2025, representing a decrease of
aproximately HK$39.7 milion. The decrease in gros profit was
primarily atributable to the volatility of the real estate market. The
instability in property prices has adversely afected (i) the deteriorated
gros profit margin of the new awarded wet trade works; (i) the delay
of work progres and unexpected changes in request of the work
by the customers incured aditional construction cost; and (i) the
tight budget afected the certified amount of work done from the
customers.
The gros profit margin was aproximately 0.4% and 7.2% for the
years ended 31 March 2025 and 2024, respectively.
Other Income and Gain
During the year ended 31 March 2025, other income and gain
represented wage subsidy granted under Youth Employment and
Training Programe, gain on disposal of plant and equipment and
sundry income.
During the year ended 31 March 2024, other income represented
wage subsidy granted under Youth Employment and Training
Programe.
财务回顾
收入
收入从截至2024年3月31日止年度的约585.2百
万港元减少至截至2025年3月31日止年度的约
530.7百万港元，减少约54.5百万港元或9.3%。
收入减少主要是由于截至2025年3月31日止年度
内中标项目数量减少所致。
服务成本
服务成本主要包括分包费用、材料及工具成本
以及直接劳工成本。
服务成本由截至2024年3月31日止年度的约
543.3百万港元减少至截至2025年3月31日止年
度的约528.5百万港元，减少约14.8百万港元或
2.7%。服务成本的下降是由于截至2025年3月
31日止年度内中标项目数量减少所致。
毛利及毛利率
毛利由截至2024年3月31日止年度的约41.8百万
港元减少至截至2025年3月31日止年度的约2.1
百万港元，减少约39.7百万港元。毛利减少主要
是由于房地产市场波动所致。房产价格的不稳
定对以下方面产生了不利影响：(i)新中标的泥水
工程的毛利润率下降；(i)工程进度延迟及客户
对工程要求的意外变更导致额外施工成本；以
及(i)紧缩的预算影响了客户确认的已完成工程
量。
截至2025年及2024年3月31日止年度，毛利率
分别约为0.4%及7.2%。
其他收入及收益
截至2025年3月31日止年度，其他收入及收益包
括青年就业及培训计划下授予的工资补贴、出
售厂房及设备的收益以及杂项收入。
截至2024年3月31日止年度，其他收入包括青年
就业及培训计划下授予的工资补贴。
8GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
MANAGEMENT DISCUSION AND ANALYSIS
管理层讨论与分析
Administrative Expenses
The administrative expenses mainly comprised staf costs,
entertainment expenses, depreciation, motor vehicles expenses,
insurance and legal and profesional expenses.
The administrative expenses increased from aproximately HK$20.7
milion for the year ended 31 March 2024 to aproximately HK$22.5
milion for the year ended 31 March 2025, representing an increase
of aproximately HK$1.8 milion or 8.6%. Such increase was mainly
due to the increase in staf costs and entertainment expenses.
Impairment Loses on Trade Receivables and
Contract Asets
The Group recorded impairment loses on trade receivables and
contract asets of aproximately HK$33.6 milion for the year ended
31 March 2025 and aproximately HK$0.6 milion for the year ended
31 March 2024. Such increase was caused by the higher default risks.
The customers were facing financial stres, leading to the increasing
risk of the delayed or non-payments.
Finance Income, net
The net finance income decreased from aproximately HK$2.2 milion
for the year ended 31 March 2024 to aproximately HK$0.6 milion
for the year ended 31 March 2025. Such decrease was mainly due to
the decrease in interest income from short-term bank deposits.
Income Tax Expense
The income tax expense decreased from aproximately HK$3.7
milion for the year ended 31 March 2024 to aproximately HK$0.2
milion for the year ended 31 March 2025 as there is a decrease in
asesable profit for the year ended 31 March 2025.
(Los)/Profit and Total Comprehensive (Expense)/
Income for the Year
The Group recorded the profit and total comprehensive income
of aproximately HK$19.1 milion for the year ended 31 March
2024, and it turned to the los and total comprehensive expense of
aproximately HK$53.5 milion for the year ended 31 March 2025.
Such change was mainly driven by the decrease in gros profit and
increase in impairment loses on trade receivables and contract asets
as mentioned above.
行政开支
行政开支主要包括员工成本、酬酢开支、折旧、
车辆开支、保险以及法律及专业开支。
行政开支由截至2024年3月31日止年度的约20.7
百万港元增加至截至2025年3月31日止年度的约
22.5百万港元，增幅约为1.8百万港元或8.6%。
该增幅主要由于员工成本及酬酢开支增加所致。
贸易应收款项及合约资产之减值亏损
本集团于截至2025年3月31日止年度录得贸易应
收款项及合约资产之减值亏损约33.6百万港元，
而截至2024年3月31日止年度则录得约0.6百万
港元。该增加乃由于违约风险上升所致。客户
面临财政压力，导致延迟或拖欠付款之风险增
加。
财务收入净额
财务收入净额由截至2024年3月31日止年度的约
2.2百万港元减少至截至2025年3月31日止年度
的约0.6百万港元。该减少主要由于短期银行存
款利息收入减少。
所得税开支
所得税开支由截至2024年3月31日止年度的约
3.7百万港元减少至截至2025年3月31日止年度
的约0.2百万港元，由于截至2025年3月31日止
年度的应课税溢利减少。
年内（亏损）╱溢利及全面（开支）╱收
入总额
本集团于截至2024年3月31日止年度录得溢利及
全面收入总额约19.1百万港元，而截至2025年3
月31日止年度则转为亏损及全面开支总额约53.5
百万港元。该变动主要由于上述毛利减少以及
贸易应收款项及合约资产减值亏损增加所致。
92024/25 年期 • GC CONSTRUCTION HOLDINGS LIMITED
MANAGEMENT DISCUSION AND ANALYSIS
管理层讨论与分析
LIQUIDITY, FINANCIAL RESOURCES AND
CAPITAL STRUCTURE
The Group neds to maintain a solid liquidity for working capital to
suport the Group’s busines operations. The principal sources of
liquidity are equity capital, cash generated from operations and bank
borowings. As at 31 March 2025, the Group maintained a healthy
liquidity position with net curent asets balance of aproximately
HK$269.8 milion (2024: aproximately HK$321.7 milion),
comprising cash and cash equivalent of aproximately HK$18.8
milion (2024: aproximately HK$31.9 milion) and short-term bank
deposit of nil (2024: HK$50 milion), respectively. The cash and cash
equivalents were mainly denominated in Hong Kong dolars.
The Shares were listed on the Main Board of the Stock Exchange on
10 October 2022. There has ben no change in the capital structure
of the Company since then. As at 31 March 2025, the capital
structure of the Company comprised mainly isued share capital and
reserves.
Bank Borowings
The bank borowings was aproximately HK$8.8 milion as at 31
March 2025 and nil as at 31 Match 2024. Such bank borowings
were dominated in Hong Kong dolars and bear interest at floating
rates.
Gearing Ratio
Gearing ratio was calculated as total borowings (i.e. bank
borowings) divided by the total equity as at the respective reporting
dates. The gearing ratio was aproximately 3.2% as at 31 March
2025. The gearing ratio was nil as at 31 March 2024 as there was no
outstanding bank borowings as at 31 March 2024.
Net Debt to Equity Ratio
Net debt to equity ratio is calculated as net debts (i.e. bank
borowings, net of cash and cash equivalents) divided by total equity
as at the respective reporting dates.
The net debt to equity ratio was not aplicable as at 31 March 2025
and 2024 as the Group had net cash position as at both dates.
流动资金、财务资源及资本架构
本集团需要保持稳健的营运资金流动性，以支持
本集团的业务运营。流动资金的主要来源为股
本、经营活动所产生现金及银行借款。于2025
年3月31日，本集团保持稳健的流动资金状况，
流动资产结余净额约为269.8百万港元（2024年：
约321.7百万港元）（分别包括现金及现金等价物
约18.8百万港元（2024年：约31.9百万港元）及
短期银行存款零港元（2024年：50百万港元）。
现金及现金等价物主要以港元计值。
股份于2022年10月10日在联交所主板上市。本
公司的资本架构从彼时起概无变动。于2025年
3月31日，本公司的资本架构主要由已发行股
本、银行借款及储备组成。
银行借款
银行借款于2025年3月31日及2024年3月31日分
别为8.8百万港元及零。该等银行借款乃以港元
计值并按浮息计息。
资产负债比率
资产负债比率按各报告日期的借款总额（即银行
借款）除以总权益计算。于2025年3月31日，资
产负债比率为约3.2%。由于2024年3月31日并
无未偿还的银行借款，故2024年3月31日的资产
负债比率为零。
净债务权益比率
净债务权益比率按各报告日期的债务净额（即银
行借款减现金及现金等价物）除以总权益计算。
净债务权益比率不适用于2025年及2024年3月
31日，原因为本集团于两个日期均有净现金状
况。
10GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
MANAGEMENT DISCUSION AND ANALYSIS
管理层讨论与分析
Treasury Policy
The Group has adopted a prudent financial management aproach
towards its treasury policy. The Board closely monitors the Group’s
liquidity position to ensure that the liquidity structure of the Group’s
asets, liabilities, and other comitments can met its funding
requirements al the time.
Capital Expenditures
For the year ended 31 March 2025, the Group incured capital
expenditures of aproximately HK$0.3 milion (2024: aproximately
HK$3.4 milion).
CONTINGENT LIABILITIES
The Group did not have any material contingent liabilities as at 31
March 2025 and 2024.
OF-BALANCE SHET ARANGEMENTS AND
COMITMENTS
The Directors confirm that as at the date of this anouncement,
the Group did not have any of-balance shet arangements or
comitments.
PLEDGE OF ASETS
As at 31 March 2025, the Group did not have any pledge of asets.
SIGNIFICANT INVESTMENTS, ACQUISITIONS
OR DISPOSALS OF SUBSIDIARIES, ASOCIATES
AND JOINT VENTURES
For the year ended 31 March 2025, the Group did not have any
significant investments, acquisitions or disposals of subsidiaries,
asociates and joint ventures.
FOREIGN EXCHANGE EXPOSURE
The Group has a minimal exposure to foreign curency risk as most of
the busines transactions and asets and liabilities of the Group are
principaly denominated in Hong Kong Dolar. As such, the Directors
consider the Group’s risk in foreign exchange is insignificant and no
foreign exchange hedging was conducted by the Group during the
year ended 31 March 2025.
库务政策
本集团对其库务政策采取了审慎的财务管理方
法。董事会密切监控本集团的流动资金状况，
以确保本集团资产、负债及其他承担的流动资
金架构始终满足其融资要求。
资本支出
截至2025年3月31日止年度，本集团产生约0.3
百万港元的资本支出（2024年：约3.4百万港元）。
或然负债
于2025年及2024年3月31日，本集团并无任何
重大或然负债。
资产负债表外安排及承担
董事确认，于本公告日期，本集团并无任何资
产负债表外安排或承担。
资产抵押
于2025年3月31日，本集团并无任何资产抵押。
附属公司、联营公司及合营企业的
重大投资、收购或出售
截至2025年3月31日止年度，本集团并无附属公
司、联营公司及合营企业的任何重大投资、收
购或出售。
外汇风险
由于本集团大部分业务交易以及资产及负债主
要以港元计值，本集团面临的外汇风险极微。
因此，董事认为本集团的外汇风险微不足道，
而于截至2025年3月31日止年度，本集团并无进
行外汇对冲。
112024/25 年期 • GC CONSTRUCTION HOLDINGS LIMITED
MANAGEMENT DISCUSION AND ANALYSIS
管理层讨论与分析
FINANCIAL INSTRUMENTS
As at 31 March 2025, the major financial instruments include
trade receivables, other receivables and deposits, amount due from
imediate holding company, cash and cash equivalents, trade
payables, other payables, lease liabilities and bank borowings.
The management manages such exposure to ensure apropriate
measures are implemented in a timely and efective maner.
EMPLOYES AND REMUNERATION POLICIES
As at 31 March 2025, the Group had 55 employes (2024: 89
employes) who were directly employed by the Group and based
in Hong Kong. The Group ofers remuneration package to the
employes which includes salary and bonuses. Generaly, the Group
considers employes’ salaries based on each of their qualifications,
position and seniority. The Group has an anual review system
to apraise the performance of the employes, which constitutes
the grounds of the decision as to the salary raises, bonuses and
promotions. The remuneration of the Directors is decided by the
Board upon the recomendation from the remuneration comite
of the Company having regard to the Group’s operating results,
individual performance and comparable market statistics.
EVENTS AFTER THE REPORTING PERIOD
There have ben no material events from the end of the reporting
period up to the date of this anouncement.
USE OF PROCEDS
The Shares were sucesfuly listed on the Main Board of the Stock
Exchange on 10 October 2022.
The amount of gros proceds from the Share Ofer is HK$125
milion and the amount of net proceds from the Share Ofer
is aproximately HK$91.8 milion after deducting underwriting
comisions and the expenses relating to the Share Ofer (the “Net
Proceds”).
金融工具
于2025年3月31日，主要金融工具包括贸易应收
款项、其他应收款项及按金、应收直接控股公
司款项、现金及现金等价物、贸易应付款项、
其他应付款项、租赁负债以及银行借款。管理
层管理有关风险以确保及时且有效地实施合适
的措施。
雇员及薪酬政策
于2025年3月31日，本集团有55名（2024年：89
名）由本集团直接雇用并位于香港的雇员。本集
团向雇员提供的薪酬方案包括薪金及花红。一
般而言，本集团根据其各自的资历、职位及职
级考虑雇员的薪金。本集团设有年度审查系统
以评核雇员的表现，而此构成加薪、花红及晋
升决定的理据。董事的薪酬由董事会根据本公
司薪酬委员会的建议，经考虑本集团的经营业
绩、个人表现及可资比较市场统计数据后厘定。
报告期后事项
自报告期间末直至本公告日期并无重大事项。
所得款项用途
股份于2022年10月10日在联交所主板成功上市。
股份发售的所得款项总额为125百万港元，而股
份发售的所得款项净额约为91.8百万港元（经扣
除包销佣金及有关股份发售的开支）（「所得款项
净额」）。
12GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
MANAGEMENT DISCUSION AND ANALYSIS
管理层讨论与分析
The Net Proceds wil be used in the maner consistent with that as
disclosed in the section headed “Future Plans and Use of Proceds”
of the Company’s prospectus dated 23 September 2022 (the
“Prospectus”), details of which are as outlined below:
Intended
use of
Net Proceds
Utilised
amount
since the
Listing Date
and up to
31 March 2025
Unutilised
amount of
Net Proceds
as at
31 March 2025
Expected
timeline for
the use of
Net Proceds
Purposes目的
所得款项
净额的
拟定用途
自上市日期
至2025年
3 月31日的
已动用金额
于2025年
3月31日所得
款项净额的
未动用金额
动用所得
款项净额的
预期时间表
HK$ milionHK$ milionHK$ milion
百万港元百万港元百万港元
Financing the up-front costs of the
Group’s projects
为本集团项目的前期
成本提供资金
67.067.0–N/A不适用
Expanding the Group’s manpower
and leasing an aditional ofice
扩充本集团人力及租
赁额外办公室
9.99.9–N/A不适用
Purchasing machinery and motor
vehicles
购买机器及车辆2.72.7–N/A不适用
Procuring an enterprise resources
planing (“ERP”) system
(Note)
采购企业资源计划
（「企业资源计划」）
系统（附注）
1.9–1.9March 2026
2026年3月
Purchasing planks and toe-boards
to further strengthen the
Group’s ocupational safety
购买木板及底护板以
进一步加强本集团
的职业安全
1.41.4–N/A不适用
The Group’s general working
capital
本集团的一般营运
资金
8.98.9–N/A不适用
Total总计91.889.91.9
Note: The use of procuring an enterprise resources planing system was
further delayed as the Company neded more time to conduct search
on ERP system and negotiate with the service providers of ERP system.
As at the date of this results anouncement, there was no further
change for the intended use of Net Proceds as disclosed in the
Prospectus.
所得款项净额将会按照与本公司日期为2022年
9月23日的招股章程（「招股章程」）「未来计划及
所得款项用途」一节所披露者一致的方式动用，
其详情概述如下：
附注： 由于本公司需要更多时间对企业资源计划系
统进行搜索并与企业资源计划系统服务商协
商，导致采购企业资源计划系统的使用进一
步延迟。
于本业绩公告日期，招股章程所披露的所得款
项净额的拟定用途概无进一步变动。
132024/25 年期 • GC CONSTRUCTION HOLDINGS LIMITED
MANAGEMENT DISCUSION AND ANALYSIS
管理层讨论与分析
FUTURE PLAN FOR MATERIAL INVESTMENTS
AND CAPITAL ASETS
Save as disclosed in the section headed “Future Plans and Use of
Proceds” of the Prospectus, as at the date of this anouncement,
the Group did not have other plans for material investments and
capital asets.
DIVIDEND
The Board has resolved not to recomend the declaration of dividend
for the year ended 31 March 2025 (2024: nil).
重大投资及资本资产的未来计划
除招股章程「未来计划及所得款项用途」一节所
披露者外，于本公告日期，本集团并无重大投
资及资本资产的其他计划。
股息
董事会已议决不建议宣派截至2025年3月31日止
年度的股息（2024年：无）。
BIOGRAPHY OF DIRECTORS AND SENIOR MANAGEMENT
董事及高级管理层履历
14GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
EXECUTIVE DIRECTORS
Mr. Chan Kiu Sum, aged 67, was apointed as a Director on
28 April 2020 and was re-designated as an executive Director on
30 October 2020. Mr. Chan Kiu Sum also serves as the chairman
of the Board and the chief executive oficer of the Group. He is
the chairperson of the Nomination Comite and a member of
the Remuneration Comite. He is primarily responsible for the
overal management, formulation of busines strategies, project
management and day-to-day management of the operations of the
Group. He is also a director of al the subsidiaries of the Company,
namely Wai Wai Prestige Company Limited (“Wai Wai Prestige”),
Ying Ying Company Limited (“Ying Ying”), Chan Kiu Construction
Decoration Enginering Limited (“Chan Kiu”) and Ying Wai (Chan
Kiu) Construction Enginering Co., Limited (“Ying Wai”). He is a
cousin-in-law of Mr. Chan Wing Ping and the father of Ms. Chan
Chui Ying.
Mr. Chan Kiu Sum has over 30 years of experience in the wet trades
works industry. From June 1988 to December 1997, he worked as
a foreman at a wet trades works contractor with his last position
as manager. He was the sole proprietor of Chan Kiu Construction
Decoration Enginering from February 1998 to February 2013. Since
July 2005 and October 2007, Mr. Chan Kiu Sum has ben a director
of Ying Wai and Chan Kiu, respectively.
Mr. Chan Kiu Sum completed the special training course for Hong
Kong and Macao comite members held by the Busines Schol of
Nankai University in the PRC in April 2018. He was a vice president of
the Hong Kong Construction Sub-Contractors Asociation from July
2015 to June 2017. Mr. Chan Kiu Sum has ben apointed as the
president and the honorary president of The Asociation of Plastering
Sub-Contractors Limited from May 2015 to October 2022 and
since November 2022, respectively. Since October 2020, Mr. Chan
Kiu Sum has become the founding executive vice president of the
Registered Specialist Trade Contractors Federation. Since January
2023, Mr. Chan Kiu Sum has become the president of the Shenzhen
Baoan Shajing Natives Asociation (HK).
Mr. Chan Wing Ping, aged 64, was apointed as a Director on
28 April 2020 and was re-designated as an executive Director on
30 October 2020. He is primarily responsible for the overal project
management and day-to-day management of the operations of the
Group. He is also a director of al the subsidiaries of the Company,
namely Wai Wai Prestige, Ying Ying, Chan Kiu and Ying Wai. He is a
cousin-in-law of Mr. Chan Kiu Sum and an uncle of Ms. Chan Chui
Ying.
执行董事
陈桥森先生，67岁，于2020年4月28日获委任
为董事，并于2020年10月30日获调任为执行董
事。陈桥森先生亦担任本集团董事会主席兼行
政总裁。彼为提名委员会主席及薪酬委员会成
员。彼主要负责本集团的整体管理、制定业务
策略、项目管理及日常运营管理。彼亦为本公
司所有附属公司（即威有限公司（「威」）、盈
盈有限公司（「盈」）、陈桥建筑泥水装饰工程
有限公司（「陈桥」）及盈威（陈桥）建筑泥水工程
有限公司（「盈威」）的董事。彼为陈永平先生的
堂舅兄及陈翠盈小姐的父亲。
陈桥森先生于泥水工程行业拥有逾30年经验。
自1988年6月至1997年12月，彼担任泥水工程
承包商的管工，离职前最后的职位为经理。自
1998年2月至2013年2月，彼为陈桥建筑泥水装
饰工程的独资经营者。自2005年7月及2007年
10月起，陈桥森先生分别出任盈威及陈桥的董
事。
陈桥森先生于2018年4月完成中国南开大学商
学院举办的香港及澳门委员会成员特别培训课
程。自2015年7月至2017年6月，彼为香港建造
业分包商联会的副会长。陈桥森先生自2015年5
月至2022年10月以及自2022年11月分别获委任
为泥水商协会有限公司的会长及荣誉会长。自
2020年10月起，陈桥森先生成为注册专门行业
承造商联会创会常务副会长。自2023年1月起，
陈桥森先生成为香港深圳宝安沙井同乡会的会
长。
陈永平先生，64岁，于2020年4月28日获委任
为董事，并于2020年10月30日获调任为执行董
事。彼主要负责本集团的整体项目管理及日常运
营管理。彼亦为本公司所有附属公司（即威、
盈、陈桥及盈威）的董事。彼为陈桥森先生的
堂妹夫及陈翠盈小姐的堂姑丈。
152024/25 年期 • GC CONSTRUCTION HOLDINGS LIMITED
BIOGRAPHY OF DIRECTORS AND SENIOR MANAGEMENT
董事及高级管理层履历
陈永平先生于泥水工程行业拥有逾20年经验。
自1996年1月至1997年12月，彼担任泥水工程
承包商的管工。其后自1998年2月至2013年2
月，彼于陈桥建筑泥水装饰工程担任管工。自
2005年7月及2007年10月起，陈永平先生分别
为盈威及陈桥的董事。
陈永平先生于2001年1月完成香港理工大学专业
进修学院工业中心提供的安全督导课程。彼自
2015年5月起获委任为泥水商协会有限公司的理
事。
陈翠盈小姐，29岁，自2024年2月5日起获委任
为执行董事，自2018年2月起一直担任本集团企
业推广、行政及人力资源经理，负责本集团的
销售、市场营销及管理。陈翠盈小姐为陈桥森
先生的女儿及陈永平先生的侄女。
陈翠盈小姐于销售及市场营销方面拥有逾5年经
验。陈翠盈小姐自2015年9月至2016年6月担任
智乐广告有限公司的客户主管。自2016年6月至
2018年2月，彼于美图（中国）有限公司担任营销
及公关主管。
陈翠盈小姐于2013年6月毕业于美国华盛顿皮尔
斯学院，获得文学副学士学位。彼其后于2015
年6月取得美国华盛顿大学传播学文学士学位。
于2019年10月，陈翠盈小姐完成由哈佛商学院
组织的商业分析、管理经济学及财务会计的在
线预备证书课程。陈翠盈小姐(a)于2022年8月完
成了43小时的建筑安全主管计划；及(b)于2021
年11月完成了52小时的建造专门行业管理课程
及21小时的分包承建商之工程管理训练课程，
均由香港建造学院举办。
Mr. Chan Wing Ping has over 20 years of experience in the wet trades
works industry. From January 1996 to December 1997, he worked
as a foreman at a wet trades works contractor. He then worked at
Chan Kiu Construction Decoration Enginering as a foreman from
February 1998 to February 2013. Mr. Chan Wing Ping has ben a
director of Ying Wai and Chan Kiu since July 2005 and October 2007,
respectively.
Mr. Chan Wing Ping completed the safety supervisor course ofered
by the Industrial Centre of the Schol of Profesional Education and
Executive Development of the Hong Kong Polytechnic University in
January 2001. He has ben apointed as a council member of The
Asociation of Plastering Sub-Contractors Limited since May 2015.
Ms. Chan Chui Ying, aged 29, was apointed as an executive
Director with efect from 5 February 2024 and was the corporate
promotion, administration and human resources manager of the
Group since February 2018 and has ben responsible for the sales
and marketing and administration of the Group. Ms. Chan Chui Ying
is the daughter of Mr. Chan Kiu Sum and a niece of Mr. Chan Wing
Ping.
Ms. Chan Chui Ying has over 5 years of experience in sales and
marketing. Ms. Chan Chui Ying was an acount executive of Ginger
Advertising Limited from September 2015 to June 2016. She worked
at Meitu (China) Limited as a marketing and public relations executive
from June 2016 to February 2018.
Ms. Chan Chui Ying graduated from Pierce Colege in Washington,
the United States, with an asociate’s degre of arts in June 2013.
She then obtained a bachelor’s degre of arts in comunication
from the University of Washington in the United States in June
2015. In October 2019, Ms. Chan Chui Ying completed the online
credential of readines program in busines analytics, economics for
managers and financial acounting organised by Harvard Busines
Schol. Ms. Chan Chui Ying completed (a) a 43-hour programe of
construction safety supervisors in August 2022; and (b) a 52-hour
course in construction specialist trades management and a 21-hour
course in project management training series for sub-contractors
in November 2021, both organised by the Hong Kong Institute of
Construction.
16GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
BIOGRAPHY OF DIRECTORS AND SENIOR MANAGEMENT
董事及高级管理层履历
INDEPENDENT NON-EXECUTIVE DIRECTORS
Dr. Huang Hong, aged 47, was apointed as an independent
non-executive Director on 13 September 2022. She is the chairperson
of the Remuneration Comite and a member of the Audit
Comite and Nomination Comite.
Dr. Huang has over 15 years of experience in corporate finance
and corporate governance. From January 2003 to March 2004,
she worked at the representative ofice of Stevenson, Wong & Co.
in Guangzhou as China busines consultant. From April 2004 to
November 2005, she practised at Drew & Napier LC in Singapore as
a registered foreign lawyer. Dr. Huang was a visiting lecturer and a
lecturer at the Schol of Acounting and Finance of the Hong Kong
Polytechnic University from January 2006 to May 2007 and from May
2007 to June 2015, respectively. From October 2018 to November
2021, Dr. Huang was the senior manager of the comercial and
corporate finance department of Stevenson, Wong & Co. Since
January 2020, she has ben a part-time visiting lecturer at the Schol
of Acounting and Finance of the Hong Kong Polytechnic University.
Since December 2021, Dr. Huang has ben a compliance director
under the group of Metalpha Technology Holding Limited. Since
January 2022, Dr. Huang has ben a part-time compliance director of
SW Management Limited.
Dr. Huang graduated from Sun Yat-sen University in the PRC with
a bachelor’s degre of laws in June 2000. She further obtained a
master’s degre of laws from the University of Liverpol in the United
Kingdom in December 2002 and a master’s degre of corporate
finance from the Hong Kong Polytechnic University in October 2009.
In October 2019, Dr. Huang obtained a doctor’s degre of philosophy
from the Schol of Law of the City University of Hong Kong. Dr.
Huang is qualified as a PRC lawyer in April 2001.
Mr. Yu Chi Wing, aged 41, was apointed as an independent
non-executive Director on 13 September 2022. He is the chairperson
of the Audit Comite and a member of the Remuneration
Comite.
Mr. Yu has over 15 years of experience in advisory, acounting,
taxation and auditing. Mr. Yu joined RSM Nelson Wheler as staf
acountant in June 2005 and left as manager in June 2014. From
June 2014 to May 2015, he worked at Niche-Tech (Hong Kong)
Limited (which is a subsidiary of Niche-Tech Group Limited, a
company listed on GEM of the Stock Exchange (stock code: 8490)
as chief acountant with his last position as financial controler.
Since June 2015, Mr. Yu has ben the financial controler of Tactful
Building Company Limited. Mr. Yu founded Yu Chi Wing CPA
(Practising) and JR & Co., Certified Public Acountants in March 2015
and September 2016, respectively. He also co-founded Emerald
Capital CPA & Co. in May 2021.
独立非执行董事
黄虹博士，47岁，于2022年9月13日获委任为独
立非执行董事。彼为薪酬委员会主席以及审核
委员会及提名委员会成员。
黄博士于企业融资及企业管治方面拥有逾15
年经验。于2003年1月至2004年3月，彼于史蒂
文生黄律师事务所广州办事处担任中国业务顾
问。于2004年4月至2005年11月，彼于新加坡
Drew & Napier LC以注册外籍律师身份执业。
于2006年1月至2007年5月以及2007年5月至
2015年6月，黄博士分别担任香港理工大学会
计及金融学院客座讲师及讲师。于2018年10月
至2021年11月，黄博士担任史蒂文生黄律师事
务所商业及企业融资部高级经理。自2020年1
月起，彼一直担任香港理工大学会计及金融学
院兼职客座讲师。自2021年12月起，黄博士在
Metalpha Technology Holding Limited集团下担
任合规主任。自2022年1月起，黄博士担任SW
Management Limited的兼职合规主任。
黄博士于2000年6月毕业于中国中山大学，获法
学士学位。彼其后于2002年12月取得英国利
物浦大学法学硕士学位，并于2009年10月取得
香港理工大学企业融资硕士学位。于2019年10
月，黄博士取得香港城市大学法律学院哲学博士
学位。黄博士于2001年4月取得中国律师资格。
于志荣先生，41岁，于2022年9月13日获委任为
独立非执行董事。彼为审核委员会主席及薪酬
委员会成员。
于先生于咨询、会计、税务及审计方面拥有逾
15年经验。于先生于2005年6月加入中瑞岳华
（香港）会计师事务所，担任会计员，而于2014
年6月离职时为经理。于2014年6月至2015年5
月，彼任职于骏码科技（香港）有限公司（联交
所GEM上市公司骏码科技集团有限公司（股份
代号：8490）的附属公司），担任总会计师，彼
离职前最后的职位为财务总监。自2015年6月以
来，于先生一直担任达高建业有限公司的财务
总监。于先生于2015年3月及2016年9月分别创
办Yu Chi Wing CPA (Practising)及卓翘会计师事
务所。彼亦于2021年5月共同创立钰恒资本会计
师事务所。
172024/25 年期 • GC CONSTRUCTION HOLDINGS LIMITED
BIOGRAPHY OF DIRECTORS AND SENIOR MANAGEMENT
董事及高级管理层履历
Mr. Yu has ben an independent non-executive director of (i)
Fameglow Holdings Limited, a company listed on GEM of the Stock
Exchange (stock code: 8603) since September 2018; (i) Wah Wo
Holdings Group Limited, a company listed on the Main Board of the
Stock Exchange (stock code: 9938) since December 2019; and (i)
WelCel Holdings Co., Limited, a company listed on the Main Board
of the Stock Exchange (stock code: 2477) from December 2023 to
September 2024.
Mr. Yu graduated from the Hong Kong Polytechnic University with a
bachelor’s degre of arts in acountancy in June 2005. He has ben
a member and a practising member of the Hong Kong Institute of
Certified Public Acountants since January 2012 and March 2015,
respectively.
Dr. Lo Ki Chiu, aged 40, was apointed as an independent
non-executive Director on 13 September 2022. He is a member of the
Audit Comite and Nomination Comite.
Dr. Lo has over 10 years of work experience. He joined Wealth
Property Agency Limited as an acount executive in December 2007
and is curently its managing director. He was an asistant instructor
from September 2012 to August 2013, a part-time instructor from
September 2013 to January 2014 and from February 2017 to June
2017, and a part-time colege lecturer from February 2018 to June
2018, from February 2019 to June 2019, from February 2020 to
August 2020, and from January 2021 to June 2021, at the Lingnan
Institute of Further Education, Lingnan University. He was also a guest
lecturer of The Education University of Hong Kong from January
2017 to June 2017. Dr. Lo was an honorary asistant profesor in the
Schol of Arts and Social Sciences of The Open University of Hong
Kong (curently known as the Hong Kong Metropolitan University)
from August 2019 to August 2022.
Dr. Lo was an independent non-executive director of Wang Yang
Holdings Limited (curently known as Central Holding Group Co.
Ltd.), a company listed on the Main Board of the Stock Exchange
(stock code: 1735) from March 2018 to October 2019. He has ben
an independent non-executive director of Yield Go Holdings Ltd.
(stock code: 1796) since December 2018.
Dr. Lo graduated from the Hong Kong Baptist University with a
bachelor’s degre of arts in physical education and recreation
management in November 2007. He further obtained a master’s
degre of science in international banking and finance and a master’s
degre of philosophy in economics from Lingnan University in
October 2009 and October 2011, respectively. In November 2019,
Dr. Lo obtained a doctor’s degre of philosophy in physical education
from the Hong Kong Baptist University.
于先生分别(i)自2018年9月起担任联交所GEM上
市公司亮晴控股有限公司（股份代号：8603）；(i)
自2019年12月起担任联交所主板上市公司华和
控股集团有限公司（股份代号：9938）；及(i)于
2023年12月至2024年9月担任联交所主板上市
公司经纬天地控股有限公司（股份代号：2477）
独立非执行董事。
于先生于2005年6月毕业于香港理工大学，获得
会计学文学士学位。彼分别自2012年1月及2015
年3月起为香港会计师公会员及执业会员。
卢其钊博士，40岁，于2022年9月13日获委任为
独立非执行董事。彼为审核委员会及提名委员
会成员。
卢博士拥有逾10年工作经验。彼于2007年12月
加入创富物业代理有限公司，担任会计执行人
员及目前为该公司的董事总经理。彼于2012年
9月至2013年8月于岭南大学持续进修学院担任
助理讲师，于2013年9月至2014年1月及2017年
2月至2017年6月于该学院担任兼职讲师，以及
于2018年2月至2018年6月、2019年2月至2019
年6月、2020年2月至2020年8月及2021年1月至
2021年6月于该学院担任兼职学院讲师。于2017
年1月至2017年6月，彼亦为香港教育大学客座
讲师。卢博士于2019年8月至2022年8月担任香
港公开大学人文社会科学院（现称香港都会大
学）的名誉助理教授。
卢博士自2018年3月至2019年10月担任联交所
主板上市公司泓盈控股有限公司（现称中环控股
集团有限公司）（股份代号：1735）之独立非执行
董事。彼自2018年12月起担任耀高控股有限公
司（股份代号：1796）之独立非执行董事。
卢博士于2007年11月毕业于香港浸会大学，取
得体育及康乐管理文学士学位。彼分别于2009
年10月及2011年10月进一步取得岭南大学国际
银行及金融理学硕士学位及经济哲学硕士学位。
于2019年11月，卢博士取得香港浸会大学体育
专业哲学博士学位。
18GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
BIOGRAPHY OF DIRECTORS AND SENIOR MANAGEMENT
董事及高级管理层履历
Dr. Luk Che Chung, JP, aged 63, was apointed as an independent
non-executive director with efect from 5 February 2024, is among
the first batch of medical graduates from the Chinese University
of Hong Kong in 1986. He holds a master’s degre of public
administration from the University of Hong Kong. Dr. Luk is also
the Member of Faculty of Public Health since 2016. He has ben
a healthcare executive in the public sector since 1990 with a wide
range of exposure and track record in managing complex and
large healthcare systems, crisis management, human resources
management, corporate governance, corporate comunications
and media management, quality and risk management and busines
development. He has solid experiences of working with senior
profesionals, media and regulatory bodies, government oficials,
politicians and people on al fronts, both inside and outside the
healthcare sector. During his 10 years of services at the Hospital
Authority Head Ofice, Dr. Luk was responsible for the anual
planing of overal operations, service and facilities planing,
development of specialist clinical services, liaison with the social
sector and comunity, hospital operations and quality management.
Dr. Luk is curently the vice-chairman of Virtus Medical Group
Limited. Since 1999, Dr. Luk worked as a hospital chief executive,
managing various public hospitals at diferent times, the main ones
being Kwong Wah Hospital, United Christian Hospital and Quen
Mary Hospital. Since 2005, he also served as the cluster chief
executive of Kowlon East Cluster for 4 years and then Hong Kong
West Cluster for 9 years. Dr. Luk was apointed as the cluster chief
executive of Hong Kong East Cluster and the hospital chief executive
of Pamela Youde Nethersole Eastern Hospital, Wong Chuk Hang
Hospital and St. John Hospital in October 2018. He was responsible
for the management of 9,000 staf with a recurent budget of over
HK$8 bilion, and the operation of seven hospitals and 12 general
outpatient clinics providing acute and comprehensive medical
services to a population of 0.8 milion. In November 2021, Dr. Luk
retired from the Hospital Authority. He worked as the deputy chief
executive oficer for Your Health Specialists Medical Group Limited
from November 2021 to September 2022. Since March 2024, Dr. Luk
has ben apointed as the director of CUHK Medical Centre. Since
in September 2023, Dr. Luk has ben apointed as an independent
non-executive director of ECI Technology Holdings Limited, a
company listed on GEM of the Stock Exchange (stock code: 8013).
Since October 2024, Dr. Luk has ben apointed as an independent
non-executive director of F8 Enterprises (Holdings) Group Limited, a
Company listed on GEM of the Stock Exchange (stock code: 8347).
Over the years, Dr. Luk has ben involved in various comunity work,
including the Medical Council, The Comunity Chest of Hong Kong,
The Hong Kong Council of Social Service, other various comunity
and non-governmental organisations, and teaching in some tertiary
institutions. In recent years, Dr. Luk has ben directly involved in the
Comunity Housing Movement and the Modular Housing Initiative.
Dr. Luk was apointed as a Justice of the Peace by the Hong Kong
SAR Government in 2019, and received the Distinguished Medical
Alumni Award from the Faculty of Medicine of the Chinese University
of Hong Kong in 2020.
陆志聪医生，太平绅士，63岁，自2024年2月5日
起获委任为独立非执行董事，为1986年香港中
文大学首批医学毕业生之一。彼持有香港大学
公共行政硕士学位。陆医生自2016年起亦为公
共卫生学院成员。彼自1990年起一直在公营机
构担任医疗行政职位，涉猎广泛领域，于管理复
杂大型医疗体系、危机管理、人力资源管理、企
业管治、企业通讯及媒体管理、质量及风险管理
以及业务发展方面往绩彪炳。彼曾与资深专业
人士、媒体及监管机构、政府官员、政治家及医
疗行业内外各方面人士合作，拥有丰富经验。在
彼任职于医院管理局总办事处的十年期间，陆
医生负责整体营运年度规划、服务及设施规划、
专科临床服务发展、与社会界别及社区联系、
医院运作及质量管理。陆医生现时为尚至医疗
集团副主席。自1999年起，陆医生出任医院行
政总监，曾于不同时期管理多间公立医院，主要
包括广华医院、基督教联合医院及玛丽医院。自
2005年起，彼亦曾出任九龙东医院联网的联网
总监四年，其后任职于港岛西医院联网九年。
陆医生于2018年10月获委任为港岛东医院联网
的联网总监，以及东区尤德夫人那打素医院、黄
竹坑医院及长洲医院的医院行政总监。彼负责
管理9,000名员工，经常预算逾80亿港元，另负
责七间医院及12间普通科门诊所的营运，为
80万人口提供急症及全面的医疗服务。于2021
年11月，陆医生自医院管理局退任。彼于2021
年11月至2022年9月期间担任嘉仁专科医疗集团
有限公司副行政总裁。于自2024年3月起，陆医
生获委任为香港中文大学医院董事。自2023年9
月起，陆医生获委任为联交所GEM上市公司ECI
Technology Holdings Limited（股份代号：8013）
的独立非执行董事。自2024年10月起，陆医生
获委任为联交所GEM上市公司F8企业（控股）集
团有限公司（股份代号：8347）的独立非执行董
事。 多年来，陆医生参与多项社区工作，包括医
务委员会、香港公益金、香港社会服务联会、
其他不同社区及非政府组织，并于若干大专院
校任教。近年，陆医生直接参与社会房屋共享
计划及组合屋计划。于2019年，陆医生获香港
特别行政区政府委任为太平绅士，并于2020年获
香港中文大学医学院颁发杰出医科校友奖。
192024/25 年期 • GC CONSTRUCTION HOLDINGS LIMITED
BIOGRAPHY OF DIRECTORS AND SENIOR MANAGEMENT
董事及高级管理层履历
SENIOR MANAGEMENT
Mr. Lai Wai Hung, aged 38, is the project manager of the Group
and is responsible for overseing and managing project execution and
operation of the Group.
Mr. Lai has over 10 years of experience in the wet trades works
industry. He joined the Group as a part-time site worker in June 2006
and was promoted as site foreman in July 2012. Mr. Lai has further
ben promoted as project manager in November 2020.
Mr. Lai completed his secondary education in June 2003. He further
completed the two-year ful time basic craft course in bricklaying,
plastering and tiling held by the Construction Industry Training
Authority in August 2005. He then completed the safety supervisor
training course and the 3-day metal scafolding supervisor course
organised by the Hong Kong Human Resources Ltd. in October 2007
and December 2007, respectively.
高级管理层
黎伟雄先生，38岁，为本集团的项目经理及负
责监督及管理项目执行及本集团的营运。
黎先生于泥水工程行业积逾10年经验。彼于
2006年6月加入本集团，担任兼职工地工人并于
2012年7月晋升为工地管工。黎先生于2020年
11月进一步晋升为项目经理。
黎先生于2003年6月完成其中学教育。彼于2005
年8月进一步完成建造业训练局举办的铺瓦、批
荡及砌砖的两年全日制基本工艺课程。彼随后
分别于2007年10月及2007年12月完成香港人力
资源有限公司举办的安全监理培训课程及3天金
属脚手架监理课程。
CORPORATE GOVERNANCE REPORT
企业管治报告
20GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
CORPORATE GOVERNANCE CODE
The Company is comited to ensuring high standards of corporate
governance and busines practices. The Company’s corporate
governance practices are based on the Corporate Governance Code
(the “CG Code”) as set out in Apendix C1 of the Rules Governing
the Listing of Securities on the Stock Exchange (the “Listing Rules”).
During the year ended 31 March 2025, save as disclosed below, the
Company has complied with the aplicable code provisions of the CG
Code and, where aplicable, the recomended best practices of the
CG Code.
Acording to the code provision C.2.1 of part 2 of the CG Code, the
roles of chairman and chief executive oficer should be separated
and should not be performed by the same individual. The Company
has apointed Mr. Chan Kiu Sum as both the chairman and the
chief executive oficer of the Company. Considering that Mr. Chan
Kiu Sum has ben operating and managing the Group since 2005,
the Board believes that vesting the roles of the chairman and chief
executive oficer in Mr. Chan Kiu Sum would enable the Group to
achieve higher responsivenes, eficiency and efectivenes when
formulating busines strategies and executing busines plans. The
Board believes that the balance of power and authority is suficiently
maintained by the operation of the senior management and the
Board, which comprises experienced and high-calibre individuals.
The Board curently comprises thre executive Directors (including
Mr. Chan Kiu Sum) and four independent non-executive Directors
and therefore has a fairly strong independence element in its
composition.
The Board wil nevertheles review the structure and composition of
the Board from time to time in light of prevailing circumstances, in
order to maintain a high standard of corporate governance practices
of the Company.
CULTURE AND CORPORATE STRATEGY
The corporate value of the Company is acting in lawful, ethical and
responsible maner. The Group is dedicated to deliver quality and
atentive wet trade works to its customers and put the health and
safety of its employes and workers as top priority.
MODEL CODE FOR SECURITIES TRANSACTIONS
The Company has adopted the Model Code for Securities
Transactions by Directors of Listed Isuers (the “Model Code”) as
set out in Apendix C3 to the Listing Rules as the required standard
for securities transactions by Directors. Al Directors, after specific
enquiries by the Company, confirmed that they have complied with
the required standard set out in the Model Code during the year
ended 31 March 2025.
企业管治守则
本公司致力维持高标准的企业管治及业务常规。
本公司的企业管治常规乃基于联交所证券上市
规则（「上市规则」）附录C1所载的企业管治守则
（「企业管治守则」）。于截至2025年3月31日止年
度，除下文所披露者外，本公司已遵守企业管
治守则的适用守则条文以及（如适用）企业管治
守则之建议最佳常规。
根据企业管治守则第二部分之守则条文C.2.1，
主席与行政总裁的角色应有区分，并不应由一
人同时兼任。本公司已委任陈桥森先生为本公
司主席兼行政总裁。鉴于陈桥森先生自2005年
起已运营及管理本集团，董事会相信，主席及
行政总裁的角色由陈桥森先生担任将使本集团
于制订业务策略及执行业务计划时更敏捷、更
有效率及更具效益。董事会相信，由经验丰富
及优秀人才组成的高级管理层及董事会的营运
足以平衡权力与权限。董事会现时由三名执行
董事（包括陈桥森先生）及四名独立非执行董事
组成，因此其组成具有相当高的独立性。
然而，董事会仍将根据现况不时检讨董事会的
架构及组成，以保持本公司的高水平企业管治
常规。
文化及企业战略
本公司的企业价值观为遵守法律、恪守道德及
负责任行事。本集团致力向客户交付优质周到
的泥水工程，并确保雇员及工人健康第一、安
全至上。
证券交易的标准守则
本公司已采纳上市规则附录C3所载的上市发
行人董事进行证券交易的标准守则（「标准守
则」），作为董事进行证券交易的规定准则。经
本公司进行特定查询后，全体董事均确认于截
至2025年3月31日止年度已遵守标准守则所载的
规定准则。
212024/25 年期 • GC CONSTRUCTION HOLDINGS LIMITED
CORPORATE GOVERNANCE REPORT
企业管治报告
董事会
董事会须负责制订本集团业务政策及策略、董
事提名及委任事项以及确保可动用资源充足及
内部管控系统行之有效。高级管理层获董事会
转授本集团日常管理及运作的权力及责任。此
外，董事会亦已成立多个董事会委员会，并向
该等董事会委员会转授其各自的职权范围所载
各种职务及职责。每位董事须确保其遵守适用
法律法规准则真诚履行职务，并时刻以本公司
及其股东之利益行事。
董事会组成
截至本报告日期，董事会由七位董事组成，包
括三位执行董事及四位独立非执行董事。董事
会按职级划分的组成详情如下：
执行董事
陈桥森先生（主席兼行政总裁）
陈永平先生
陈翠盈小姐
独立非执行董事
黄虹博士
于志荣先生
卢其钊博士
陆志聪医生，太平绅士
有关董事的详情载于本年报「董事及高级管理层
履历」一节。
本公司由董事会治理。董事会需负责领导及监
控本公司。董事需共同负责指导及监督本集团
事务，借以促进本集团取得成功。
BOARD OF DIRECTORS
The Board is responsible for the formulation of busines policies
and strategies of the Group, the nomination and apointment of
Directors, and to ensure the availability of resources as wel as the
efectivenes of its system of internal control. The senior management
was delegated the authority and responsibilities by the Board for the
day-to-day management and operations of the Group. In adition,
the Board has also established Board comites and has delegated
to these Board comites various duties and responsibilities as set
out in their terms of reference respectively. Each Director shal ensure
that he/she caries out his/her duty in god faith in compliance with
the standard of aplicable laws and regulations, and acts in the
interests of the Company and its shareholders at al times.
Board Composition
As at the date of this report, the Board comprised seven Directors,
including thre Executive Directors and four Independent
non-executive Directors. Details of the Board composition by category
are as folows:
Executive Directors
Mr. Chan Kiu Sum (Chairman and Chief Executive Oficer)
Mr. Chan Wing Ping
Ms. Chan Chui Ying
Independent non-executive Directors
Dr. Huang Hong
Mr. Yu Chi Wing
Dr. Lo Ki Chiu
Dr. Luk Che Chung, JP
The details of Directors are set out in the section headed “Biography
of Directors and Senior Management” of this anual report.
The Company is governed by the Board which has the responsibility
for leadership and monitoring of the Company. The Directors are
colectively responsible for promoting the suces of the Group by
directing and supervising the Group’s afairs.
22GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
CORPORATE GOVERNANCE REPORT
企业管治报告
ATENDANCE RECORDS OF METINGS
The Board sets strategies and directions for the Group’s activities
with a view to developing its busines and enhancing shareholders’
value. The Board has delegated the daily operation and day-to-
day management of the Group as wel as the implementation of
the Board’s policies and strategies to the executive Directors and
management of the Group.
The Board is scheduled to met regularly and at least four times
a year, and the Directors wil receive at least 14 days prior writen
notice of such metings in compliance with paragraphs C.5.1 and
C. 5.3 of part 2 of the CG Code. The company secretary of the
Company asists the chairman to prepare the meting notice and
agenda. Each Director may include any item in the agenda. The
agenda, acompanied by meting papers with suficient and reliable
information, are sent to each Director at least 3 days before each
Board meting or comite meting to enable the directors to make
informed decisions on the maters to be discused, except where a
Board meting or comite meting is convened on a very urgent
basis to consider any urgent ad hoc mater. The company secretary is
responsible for taking and keping minutes of al Board metings and
comite metings. Aditional Board metings wil be convened,
as and when required, to deal with ad hoc isues. Any Director
who is not able to atend physicaly may participate at any Board
meting through means of a telephone or tele-conferencing or any
other telecomunications facility, in acordance with the Articles of
Asociation of the Company.
会议出席记录
董事会为本集团制订活动策略和方向，旨在发
展业务及提升股东价值。董事会已将本集团日
常运作及管理以及落实董事会政策和策略的工
作委派予执行董事及本集团管理层。
根据企业管治守则第二部分第C.5.1及C.5.3段，
董事会计划定期召开会议且每年至少召开四次
会议，以及董事将至少提前14天收到有关该等
会议的书面通知。本公司的公司秘书协助主席
拟备会议通告及议程。每位董事均可将任何议
题列入议程。议程连同载有充足且可靠资料的
会议文件，于每次董事会议或委员会议召
开前至少3天发送予每位董事，以便董事能够就
所讨论的事项作出知情决定，惟董事会议或
委员会议乃于紧急情况下召开以考虑任何紧
急突发事项除外。公司秘书负责记录及保存所
有董事会议及委员会议的会议记录。如有
需要，将召开额外的董事会议，以处理突发
事宜。根据本公司组织章程细则，任何无法亲
自出席的董事均可透过电话或电话会议或任何
其他电信设施参与任何董事会议。
232024/25 年期 • GC CONSTRUCTION HOLDINGS LIMITED
CORPORATE GOVERNANCE REPORT
企业管治报告
During the year ended 31 March 2025, one general meting was
convened and five Board metings were held and the atendance of
each Director is set out below:
Board Meting
Atended/Held
General Meting
Atended/Held
出席╱召开董事会
会议次数
出席╱召开股东
大会议次数
Executive Directors执行董事
Mr. Chan Kiu Sum陈桥森先生5/51/1
Mr. Chan Wing Ping陈永平先生5/51/1
Ms. Chan Chui Ying陈翠盈小姐5/51/1
Independent non-executive Directors独立非执行董事
Dr. Huang Hong黄虹博士5/51/1
Mr. Yu Chi Wing于志荣先生5/51/1
Dr. Lo Ki Chiu卢其钊博士5/51/1
Dr. Luk Che Chung, JP陆志聪医生，太平绅士5/51/1
APOINTMENT, RE-ELECTION AND REMOVAL
OF DIRECTORS
Each of the Executive Director has entered into a service agrement
for a term of thre years with the Company which renewed and
extended automaticaly upon expiry of the initial term unles
otherwise terminated by either party by giving to the other not les
than thre months’ prior writen notice. Each of the Independent
non-executive Directors has entered into an apointment leter for
a term of one year with the Company which renewed and extended
automaticaly upon expiry of the initial term unles otherwise
terminated by either party by giving to the other not les than one
month’s prior writen notice. In acordance with Article 108 of the
Articles of Asociation of the Company, at each anual general
meting one-third of the Directors for the time being shal retire from
ofice by rotation and re-election. Each Director shal retire from ofice
at least once every thre years. In acordance with Article 112 of the
Articles of Asociation, any Director apointed by the Board either
to fil a casual vacancy or as an adition to the existing Board shal
hold ofice until the folowing general meting (in the case of filing a
causal vacancy) or the next folowing anual general meting (in the
case of an aditional Director) and shal then be eligible for election.
截至2025年3月31日止年度，本公司已召开一次
股东大会以及召开五次董事会议，而各董事
之出席情况载列如下：
委任、重选及罢免董事
各执行董事已与本公司订立服务协议，任期为
期三年，于首次任期届满后自动重续，除非由
其中一方向另一方发出不少于三个月的事前书
面通知予以终止。各独立非执行董事已与本公
司订立委任书，任期为期一年，于首次任期届
满后自动重续，除非由其中一方向另一方发出
不少于一个月的事前书面通知予以终止。根据
本公司组织章程细则第108条，在每届股东周年
大会上，当时的三分之一董事应轮值退任接受
重选连任。每名董事须至少每三年轮值退任一
次。根据组织章程细则第112条，由董事会委任
以填补临时空缺或以额外加入现存董事会的任
何董事任期仅直至其后的股东大会（倘填补临
时空缺）或其后的股东周年大会（倘额外加入董
事），届时符合资格重选。
24GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
CORPORATE GOVERNANCE REPORT
企业管治报告
Board Independence
The Company recognises that Board independence is pivotal in
god corporate governance and Board efectivenes. The folowing
mechanisms are adopted by the Board to ensure that independent
views and input are available to the Board, and these mechanisms are
reviewed anualy by the Board to ensure their efectivenes:
1. The Board must have at least thre Independent non-Executive
Directors and must apoint Independent non-Executive
Directors representing at least one-third of the Board.
2. On an anual basis, al Independent non-Executive Directors are
required to confirm in writing their compliance of independence
requirements pursuant to the Listing Rules, and to disclose the
number and nature of ofices held by them in public companies
or organisations and other significant comitments.
3. External independent profesional advice is available as and
when required by individual Directors.
4. The chairman of the Board mets with Independent
non-Executive Directors anualy without the presence of the
Executive Directors.
The Board considered that the above mechanisms were efective
during the year under review.
The Company has received from each of the Independent
non-executive Directors an anual confirmation of his/her
independence pursuant to Rule 3.13 of the Listing Rules and
considered that the Independent non-executive Directors to be
independent in acordance with the independence guidelines set out
in the Listing Rules. Upon the recomendation of the Nomination
Comite, the Board considers al independent non-executive
Directors to be independent in light of the independence guidelines
set out in the said Listing Rules.
董事会独立性
本公司明白董事会独立性对良好企业管治及董
事会效能至关重要。董事会已采纳下列机制，
以确保董事会能获取独立意见及资料，并每年
进行检讨，确保行之有效：
- ，且
获委任独立非执行董事人数须占董事会至
少三分之一。
2. 全体独立非执行董事须每年根据上市规则
提交符合独立性规定的确认书，并披露彼
等于上市公司或公众机构所担任职位数目
及性质以及其他重大承担。
- 。
4. 董事会主席每年在执行董事避席的情况下
与独立非执行董事会面。
董事会认为，上述机制于回顾年度行之有效。
本公司已从各独立非执行董事接获根据上市规
则第3.13条呈交的年度独立性确认书，并认为根
据上市规则所载独立性指引，独立非执行董事
均属独立人士。经提名委员会推荐建议，董事
会认为，基于该等上市规则所载独立性指引，
全体独立非执行董事均属独立人士。
252024/25 年期 • GC CONSTRUCTION HOLDINGS LIMITED
CORPORATE GOVERNANCE REPORT
企业管治报告
DIRECTORS’ CONTINUOUS PROFESIONAL
DEVELOPMENT
To ensure that the Directors’ contribution to the Board remains
informed and relevant and in compliance with paragraph C.1.4
of part 2 of the CG Code, the Company would arange and fund
suitable continuous profesional development for the Directors to
participate in order to develop and refresh their knowledge and skils.
The training each Director received during the year ended 31 March
2025 is sumarised as below:
Atending
seminars/in
house workshops
relevant to the
Group’s busines,
Listing Rules,
regulatory and
statutory updates
Reading
newspapers,
journals and other
relevant materials
regarding
regulatory update
and corporate
governance
maters
参加有关本集团业
务、上市规则、监
管及法律最新情况
的研讨会╱
内部工作坊
阅览有关监管最新
情况及企业管治事
宜的报章、刊物及
其他相关材料
Executive Directors执行董事
Mr. Chan Kiu Sum陈桥森先生
Mr. Chan Wing Ping陈永平先生
Ms. Chan Chui Ying 陈翠盈小姐
Independent non-executive Directors独立非执行董事
Dr. Huang Hong黄虹博士
Mr. Yu Chi Wing于志荣先生
Dr. Lo Ki Chiu卢其钊博士
Dr. Luk Che Chung, JP 陆志聪医生，太平绅士
董事持续专业进修
为确保董事持续对董事会作出知情及适用的贡
献及遵守企业管治守则第二部分第C.1.4段，本
公司会为董事安排参加合适的持续专业进修并
提供资金，以发展及更新其知识和技能。于截
至2025年3月31日止年度，各董事所接受的培训
概述如下：
26GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
CORPORATE GOVERNANCE REPORT
企业管治报告
BOARD AND WORKFORCE DIVERSITY
The Company has adopted a board diversity policy (the “Diversity
Policy”) which sets out the aproach of which the Board could
achieve a higher degre of diversity. The Company recognises the
benefits of having a diversified Board. In sumary, the Diversity Policy
sets out that when considering the nomination and apointment of
a director, with the asistance of the Nomination Comite, the
Board would consider a number of factors, including but not limited
to the skils, knowledge, profesional experience and qualifications,
cultural and educational background, age, gender and diversity of
perspectives that the candidate is expected to bring to the Board
and what would be the candidate’s potential contributions, in
order to beter serves the neds and development of the Company.
The Diversity Policy also seks to atract, retain and motivate the
Directors and other staf from the widest pol of available talent.
Al Board apointments wil be based on merits, and candidates wil
be considered against objective criteria, having due regard to the
benefits of diversity on the Board.
During the year ended 31 March 2025, the Board reviewed the
implementation and efectivenes of the Diversity Policy and
discused the above measurable objectives and agred that these
measurable objectives were achieved for the diversity of the Board
which contributed to the corporate strategy and the busines
development of the Company. The Board wil take oportunities
to increase the proportion of female members over time when
selecting and making recomendation on suitable candidates for
board apointments. The Board would ensure that apropriate
balance of gender diversity is achieved with reference to stakeholders’
expectation and international and local recomended best practices,
with the ultimate goal of bringing the Board to gender parity. The
Board also aspires to having an apropriate proportion of Directors
who have direct experience in the Group’s core markets, with
diferent ethnic backgrounds, and reflecting the Group’s strategy.
The Company is conscious of maintaining Board diversity with an
apropriate level of female members on the Board, which included
two female members. Due to the industry nature of the busines as
wet trades works contractor and the prevailing gender dominance
in the industry, the Board curently comprises five male Directors
(71.4%) and two female Directors (28.6%), whereas the senior
management comprises one male member. The Group target to
maintain the percentage of female directors in the Board no les than
28% in the next thre years. The Company values gender diversity,
including but not limited to (i) continue to take steps to promote
gender diversity at al levels of the Company and to develop a pipeline
of potential sucesors, including but without limitation at the Board;
and (i) consider the posibility of nominating female management
staf who has necesary skils and experience to the Board.
董事会及工作团队成员多元化
本公司已采纳董事会成员多元化政策（「多元化
政策」）。该政策载述董事会为达到成员更为多
元化而采取的方针。本公司了解董事会成员多
元化的裨益。概括而言，多元化政策订明，于
考虑董事的提名及委任事项时，董事会在提名
委员会协助下会考虑多项因素，包括但不限于
技能、知识、专业经验及资历、文化与教育背
景、年龄、性别以及候选人预期为董事会带来
的多元角度及候选人的潜在贡献，以更切合本
公司需要及发展。此外，多元化政策力求从最
广泛的可用人才资源吸引、挽留及激励董事及
其他员工。所有董事会委任事项将以用人唯才
为本，并按客观标准及顾及董事会成员多元化
的裨益考虑候选人。
于截至2025年3月31日止年度，董事会已检讨多
元化政策的落实及效能情况，讨论到上述可计
量目标，并同意就董事会成员多元化而言已达
到该等可计量目标，为本公司企业战略及业务
发展作出贡献。董事会将把握机会，随时间推
进就董事会委任事项甄选及建议合适候选人时
增加女性成员比例。董事会参考持份者期望
以及国际及本地的建议最佳实务，确保取得性
别多元化的适当平衡，并以实现董事会性别平
等为最终目标。董事会亦冀望有适当比例的董
事是对本集团核心市场有直接经验且拥有不同
族裔背景，反映本集团的策略。
本公司意识到董事会应具有适当的女性成员人
数（包括两位女性成员），借以保持董事会成员
多元化。基于作为泥水工程承包商业务的行业
性质及当前业界的主导性别，董事会目前由五
位男性董事(71.4%）及两位女性董事(28.6%）组
成，而高级管理层则由一位男性成员组成。本
集团计划于未来三年将女性董事于董事会中的
百分比保持不低于28%。本公司重视性别多元
化，包括但不限于(i)继续采取措施在本公司所有
层面提倡性别多元化，亦会培育候补的潜在继
任人，包括但不限于董事会成员；及(i)考虑提
名具备必要技能及经验的女性管理员工进入董
事会的可能性。
272024/25 年期 • GC CONSTRUCTION HOLDINGS LIMITED
CORPORATE GOVERNANCE REPORT
企业管治报告
The Group strictly adheres to fair and apropriate employment
practices and labour standards. With an anti-discriminatory and
equal-oportunity policy in place, the Group provides job aplicant
and employes with equal oportunities of employment and
promotion, and prohibits al forms of discrimination on gender,
religion, race, disability or age. Due to the industry nature of the
busines as wet trades works contractor and the prevailing gender
dominance in the industry, as at 31 March 2025, 8 out of 55
employes (including senior management) of the Group are female,
representing aproximately 14.5%. The Group target to maintain the
percentage of female employes in the Group’s workforce of no les
than 15% in the next thre years.
BOARD COMITES
The Board has established thre board comites, namely the Audit
Comite, the Remuneration Comite and the Nomination
Comite with terms of reference to asist them in the eficient
implementation of their functions.
Audit Comite
The Company established the Audit Comite with writen terms of
reference in compliance with Rule 3.22 of the Listing Rules and code
provision D.3.3 of part 2 of the CG Code pursuant to a resolution of
the Directors pased on 13 September 2022. The primary duties of
the Audit Comite are, among others, to make recomendations
to the Board on the apointment, reapointment and removal of
external auditor, review the financial statements and material advice
in respect of financial reporting, overse the financial reporting
proces, internal control, risk management systems and audit proces
of the Company and perform other duties and responsibilities
asigned by the Board.
At present, the Audit Comite comprises Mr. Yu Chi Wing, Dr.
Huang Hong, Dr. Lo Ki Chiu and Dr. Luk Che Chung, JP, al being
independent non-executive Directors. Mr. Yu Chi Wing is the
chairperson of the Audit Comite.
Metings of the Audit Comite shal be held not les than twice a
year. Details of the authority and duties of Audit Comite are set
out in the Audit Comite’s terms of reference which are available
on the websites of the Stock Exchange and the Company.
本集团严格遵守公平及适当的雇用惯例及劳动
准则。本集团已落实反歧视及平等机会政策，
为求职者及员工提供平等雇用及晋升机会，并
严禁针对性别、宗教、种族、残疾或年龄作任
何方式的歧视。基于作为泥水工程承包商业务
的行业性质及当前业界的主导性别，于2025年3
月31日，本集团55名雇员（包括高级管理层）当
中有8名为女性，占比约为14.5%。本集团计划
于未来三年将女性员工于本集团雇员团队中的
百分比保持不低于15%。
董事会委员会
董事会已设立三个董事会委员会，即审核委员
会、薪酬委员会及提名委员会，并已制订职权
范围，协助有效行使其职能。
审核委员会
本公司遵守上市规则第3.22条及企业管治守则
第二部分第D.3.3条，根据于2022年9月13日通
过的董事决议案成立审核委员会并制订职权范
围。审核委员会的主要职务为（其中包括）就委
聘、续聘及罢免外部核数师向董事会作出推荐
建议、审阅财务报表及与财务汇报相关的重要
意见、监督本公司财务汇报过程、内部管控、
风险管理系统及审计过程，以及履行董事会委
派的其他职务及职责。
目前，审核委员会由于志荣先生、黄虹博士、
卢其钊博士及陆志聪医生，太平绅士组成，彼等
皆为独立非执行董事。于志荣先生担任审核委
员会主席。
审核委员会每年应举行不少于两次会议。有关
审核委员会的职权及职务载于审核委员会之职
权范围，可于联交所及本公司网站浏览。
28GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
CORPORATE GOVERNANCE REPORT
企业管治报告
The folowing is a sumary of the work performed by the Audit
Comite during the year ended 31 March 2025:
– reviewed the unaudited condensed consolidated interim
financial information for the six months ended 30 September
2024 and the consolidated financial statements for the year
ended 31 March 2024, the interim report for the six months
ended 30 September 2024 and anual report for the year
ended 31 March 2024, the related acounting principles
and practices adopted by the Group, the report from the
management on the Company’s review of the risk management
and internal control systems, and recomendation of the
apointment and re-apointment of the external auditor;
– reviewed the efectivenes and performance of the Company’s
financial reporting system, risk management and internal
control systems;
– reviewed the nature and scope of the non-audit services
provided or to be provided by external auditor and asesed the
respective implication on the auditor’s independence; and
– reviewed the report comunicated by the external auditor for
maters including the planed scope and timing of the audit and
significant audit findings.
There is no disagrement betwen the Board and the Audit
Comite regarding the apointment of external auditor.
During the year ended 31 March 2025, four Audit Comite
metings were held and the atendance of each comite member
is set out below:
Number of
Atendance
出席次数
Independent non-executive Directors独立非执行董事
Dr. Huang Hong黄虹博士4/4
Mr. Yu Chi Wing于志荣先生4/4
Dr. Lo Ki Chiu卢其钊博士4/4
Dr. Luk Che Chung, JP 陆志聪医生，太平绅士4/4
以下为审核委员会于截至2025年3月31日止年度
所执行工作概要：
－ 审阅截至2024年9月30日止六个月的未经审
核简明综合中期财务资料及截至2024年3月
31日止年度之综合财务报表及截至2024年
9月30日止六个月之中期报告及截至2024
年3月31日止年度之年报、本集团所采纳相
关会计原则及实务、管理层对本公司之风
险管理及内部管控系统检讨报告以及建议
委任及续聘外部核数师；
－ 检讨本公司财务汇报系统、风险管理及内
部管控系统的效能及绩效；
－ 检讨外部核数师提供或将提供的非审计服
务的性质及范围，以及评估核数师独立性
的相关涵义；及
－ 审阅外部核数师提交的报告，内容包括审
计的计划范围及时间以及重大审计结果。
董事会与审核委员会之间就委聘外部核数师而
言并无任何意见分歧。
截至2025年3月31日止年度，审核委员会举行了
四次会议，各委员会成员之出席记录如下：
292024/25 年期 • GC CONSTRUCTION HOLDINGS LIMITED
CORPORATE GOVERNANCE REPORT
企业管治报告
Remuneration Comite
The Company established the Remuneration Comite on 13
September 2022 with writen terms of reference in compliance with
Rule 3.26 of the Listing Rules and code provision E.1.2 of part 2 of
the CG Code. The primary duties of the Remuneration Comite
are to review and aprove the management’s remuneration
proposals, make recomendations to the Board on the remuneration
package of the Directors and senior management and ensure none
of the Directors determine their own remuneration. At present,
the Remuneration Comite comprises Dr. Huang Hong, Mr. Yu
Chi Wing and Dr. Luk Che Chung, JP, being the independent
non-executive Directors, and Mr. Chan Kiu Sum, being the executive
Director. Dr. Huang Hong is the chairperson of the Remuneration
Comite.
Metings of the Remuneration Comite shal be held at least
once a year. Details of the authority and duties of Remuneration
Comite are set out in the Remuneration Comite’s terms of
reference which are available on the websites of the Stock Exchange
and the Company.
The folowing is a sumary of the work performed by the
Remuneration Comite during the year ended 31 March 2025:
– reviewed the remuneration of the Directors and senior
management; and
– made recomendations to the Board on the remuneration of
individual Directors and senior management.
Details of the Directors’ remuneration in the Group and the five
highest paid individuals are set out in note 9 to the consolidated
financial statements.
During the year ended 31 March 2025, one Remuneration
Comite meting was held and the atendance of each comite
member is set out below:
Number of
Atendance
出席次数
Executive Director执行董事
Mr. Chan Kiu Sum陈桥森先生1/1
Independent non-executive Directors独立非执行董事
Dr. Huang Hong黄虹博士1/1
Mr. Yu Chi Wing于志荣先生1/1
Dr. Luk Che Chung, JP 陆志聪医生，太平绅士1/1
薪酬委员会
本公司遵守上市规则第3.26条及企业管治守则第
二部分第E.1.2条，根据于2022年9月13日通过的
董事决议案成立薪酬委员会并制订职权范围。
薪酬委员会的主要职务为审阅及批准管理层薪
酬建议、就董事及高级管理层的薪酬待遇向董
事会作出推荐建议并确保概无董事厘定自身薪
酬。目前，薪酬委员会由独立非执行董事黄虹
博士、于志荣先生及陆志聪医生，太平绅士以及
执行董事陈桥森先生组成。黄虹博士担任薪酬
委员会主席。
薪酬委员会每年应至少举行一次会议。有关薪
酬委员会的职权及职务载于审核委员会之职权
范围，可于联交所及本公司网站浏览。
以下为薪酬委员会于截至2025年3月31日止年度
所执行工作概要：
－ 审阅董事及高级管理层的薪酬；及
－ 就个别董事及高级管理层的薪酬向董事会
作出推荐建议。
有关本集团董事薪酬以及五名最高薪酬人士之
详情载于综合财务报表附注9。
截至2025年3月31日止年度，薪酬委员会举行了
一次会议，各委员会成员之出席记录如下：
30GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
CORPORATE GOVERNANCE REPORT
企业管治报告
Pursuant to paragraph E.1.5 of part 2 of the CG Code, the
remuneration paid to the member of the senior management
(excluding Directors) by band during the year ended 31 March 2025
is set out below:
Number of
person(s)
人数
HK$Nil to HK$1,000,000零港元至1,000,000港元1
Remuneration Policy of the Directors
Quality and comited staf are valuable asets contributing to
the Group’s suces. To ensure the ability to atract and retain
talents, the Group’s remuneration policy of the Directors is built
upon the principles of providing equitable and market-competitive
remuneration package that suport the performance culture and
enable the achievement of strategic busines goals. The Group’s
remuneration policy of Directors is, therefore, aiming at providing
competitive but not excesive remuneration package to the Directors.
The Directors’ remuneration comprises fixed salary or service fe
and variable components (such as bonus and share options), which
is benchmarked against companies of comparable busines or scale
with reference to a mix of factors such as the prevailing market
condition, the Company’s performance and the qualifications, skils,
experience and educational background of the Directors.
Nomination Comite
The Company established the Nomination Comite on 13
September 2022 with writen terms of reference in compliance with
code provision B.3.1 of part 2 of the CG Code. The primary duties
of the Nomination Comite are, among others, to review the
structure, size and composition of the Board, and select or make
recomendations on the selection of individuals nominated for
directorships. At present, the Nomination Comite comprises
Mr. Chan Kiu Sum, being the executive Director, Dr. Huang Hong,
Dr. Lo Ki Chiu and Dr. Luk Che Chung, JP, being the independent
non-executive Directors. Mr. Chan Kiu Sum is the chairperson of the
Nomination Comite.
Metings of the Nomination Comite shal be held at least once
a year. Details of the authority and duties of Nomination Comite
are set out in the Nomination Comite’s terms of reference
which are available on the websites of the Stock Exchange and the
Company.
根据企业管治守则第二部分第E.1.5段，截至
2025年3月31日止年度高级管理层成员（不包括
董事）按所支付薪酬范围划分如下：
董事薪酬政策
高质素和投入的员工乃造就本集团成功的宝贵
资产。为确保有能力吸引及挽留人才，本集团
的董事薪酬政策乃基于提供公平及具有市场竞
争力的薪酬方案原则，支持绩效文化，使本集
团能够达成战略业务目标。因此，本集团的董
事薪酬政策旨在向董事提供具竞争力而不会过
高的薪酬方案。
董事薪酬包括固定薪金或服务费以及浮动部分
（例如花红及购股权）。薪酬水平乃对比从事可
比较业务或规模公司订立基准，并参考当前市
况、本公司表现以及董事资历、技能、经验及
教育背景等一篮子因素。
提名委员会
本公司遵守企业管治守则第二部分第B.3.1条，
根据于2022年9月13日通过的董事决议案成立提
名委员会并制订职权范围。提名委员会的主要
职务为（其中包括）检讨董事会结构、成员人数
及组成，并甄选或就获提名担任董事之个别人
士作出推荐建议。目前，提名委员会由执行董
事陈桥森先生以及独立非执行董事黄虹博士、
卢其钊博士及陆志聪医生，太平绅士组成。陈桥
森先生担任提名委员会主席。
提名委员会每年应至少举行一次会议。有关提
名委员会的职权及职务载于审核委员会之职权
范围，可于联交所及本公司网站浏览。
312024/25 年期 • GC CONSTRUCTION HOLDINGS LIMITED
CORPORATE GOVERNANCE REPORT
企业管治报告
The folowing is a sumary of the work performed by the Nomination
Comite during the year ended 31 March 2025:
– reviewed the board diversity policy; and
– reviewed the independence of the independent non-executive
Directors.
During the year ended 31 March 2025, one Nomination Comite
meting was held and the atendance of each comite member is
set out below:
Number of
Atendance
出席次数
Executive Director执行董事
Mr. Chan Kiu Sum陈桥森先生1/1
Independent non-executive Directors独立非执行董事
Dr. Huang Hong黄虹博士1/1
Dr. Lo Ki Chiu卢其钊博士1/1
Dr. Luk Che Chung, JP 陆志聪医生，太平绅士1/1
Nomination Policy
The Company has adopted a nomination policy (the “Nomination
Policy”) which sets out the aproach and procedures the Board
adopts for the nomination and selection of Directors, including
the apointment of aditional Directors, replacement of Directors,
and re-election of Directors. The Nomination Comite has
ben delegated with the overal responsibility for implementation,
monitoring and periodic review of the policy, and the sumary of
which is set out below:
Nomination Criteria
In evaluating and selecting any candidate for the directorship, the
folowing criteria would be considered by the Nomination Comite
and the Board:
– the candidate’s character and integrity;
– the candidate’s qualifications including profesional
qualifications, skils, knowledge and experience, and diversity
aspects under the Board Diversity Policy that are relevant to the
Company’s busines and corporate strategy;
以下为提名委员会于截至2025年3月31日止年度
所执行工作概要：
－ 审阅董事会成员多元化政策；及
－ 检讨独立非执行董事之独立性。
截至2025年3月31日止年度，提名委员会举行了
一次会议，各委员会成员之出席记录如下：
提名政策
本公司已采纳一份提名政策（「提名政策」），当
中载述董事会就提名及甄选董事所采纳方针及
程序，包括委任额外董事、替换董事及重选董
事。提名委员会已受委落实、监控及定期检讨
该政策之整体责任，该政策概要载列如下：
提名标准
于评核及甄选任何董事候选人时，提名委员会
及董事会考虑下列标准：
－ 候选人的品格及诚信；
－ 候选人资历，包括专业资历、技能、知识
及经验，以及董事会成员多元化政策项下
切合本公司业务及企业战略的多元化层面；
32GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
CORPORATE GOVERNANCE REPORT
企业管治报告
– any measurable objectives adopted for achieving diversity on the
Board;
– for independent non-executive Directors, whether the candidate
would be considered independent with reference to the
independence guidelines set out in the Listing Rules;
– any potential contributions the candidate can bring to the Board
in terms of qualifications, skils, experience, independence and
gender diversity;
– wilingnes and ability of the candidate to devote adequate time
to discharge duties as a member of the Board and/or Board
comite(s) of the Company; and
– such other perspectives that are apropriate to the Company’s
busines and sucesion plan and where aplicable may be
adopted and/or amended by the Board and/or the Nomination
Comite from time to time for nomination of directors and
sucesion planing.
Nomination Procedures
The Company has put in place the folowing director nomination
procedures:
Apointment of New and Replacement Directors
i. If the Board determines that an aditional or replacement
Director is required, it wil deploy multiple chanels for
identifying suitable Director candidates, including referal from
Directors, shareholders, management, advisors of the Company
and external executive search firms.
i. Upon compilation and interview of the list of potential
candidates, the Nomination Comite wil shortlist candidates
for consideration by the Nomination Comite and/or the
Board based on the selection criteria and such other factors that
it considers apropriate. The Board has the final authority on
determining suitable Director candidate for apointment.
－ 就达到董事会成员多元化而采纳的任何可
计量目标；
－ 就独立非执行董事而言，经参考上市规则
所载独立性指引后，候选人是否会被视为
独立人士；
－ 候选人在资历、技能、经验、独立性及性
别多元化等方面能为董事会带来的任何潜
在贡献；
－ 候选人是否愿意及有能力投入足够时间履
行本公司董事会及╱或董事会委员会成员
的职务；及
－ 切合本公司业务及继任计划及（如适用）由
董事会及╱或提名委员会就提名董事及继
任计划而言不时采纳及╱或修订的其他有
关角度。
提名程序
本公司已制订以下董事提名程序：
委任新董事及替换董事
- ，其将
会采用多个渠道识别合适的董事候选人，
包括经本公司董事、股东、管理层、顾问
以及外部猎头公司转介。
i. 编制潜在候选人名单并进行面试后，提名
委员会将根据甄选标准及其认为合适的其
他有关因素，拟订最终候选人名单供提名
委员会及╱或董事会考虑。董事会具有确
定适合委任的董事人选的最终权力。
332024/25 年期 • GC CONSTRUCTION HOLDINGS LIMITED
CORPORATE GOVERNANCE REPORT
企业管治报告
Re-election of Directors and Nomination from Shareholders
- , being eligible, ofers himself for
re-election, the Nomination Comite and/or the Board shal
consider and, if consider apropriate, recomend such retiring
Director to stand for re-election at a general meting. A circular
containing the requisite information on such retiring Director
wil be sent to shareholders prior to a general meting in
acordance with the Listing Rules.
i. Any shareholder of the Company who wishes to nominate a
person to stand for election as a Director at a general meting
must lodge with the company secretary of the Company within
the lodgement period specified in the relevant shareholder
circular (a) a writen nomination of the candidate, (b) writen
confirmation from such nominated candidate of his wilingnes
to stand for election, and (c) biographical details of such
nominated candidate as required under the Listing Rules.
Particulars of the candidate so proposed wil be sent to al
shareholders for information by a suplementary circular.
ANTI-CORUPTION POLICY AND WHISTLEBLOWING
POLICY
The policies of Anti-coruption and whistleblowing policy are
contained in the section headed “Anti-coruption” on page 99 in this
anual report.
CORPORATE GOVERNANCE FUNCTION
The Board is responsible for performing and has performed in
compliance with the corporate governance duties as set out in the
CG Code which includes develop and review the Group’s policies
and practices on corporate governance and make recomendations
to the Board; review and monitor the training and continuous
profesional development of the Directors and senior management;
review and monitor the Group’s policies and practices on compliance
with legal and regulatory requirements; develop, review and monitor
the code of conduct and compliance manual (if any) aplicable to
employes and directors; and review the Group’s compliance with the
CG Code and disclosure in this Corporate Governance Report.
重选董事及股东提名
- ，则提
名委员会及╱或董事会将考虑并（如认为合
适）推荐建议该位退任董事于股东大会上膺
选连任。根据上市规则，一份载有该位退
任董事之须载资料之通函将于股东大会前
寄发予股东。
i. 如本公司任何股东有意提名某一人士于股
东大会上参选董事，则须于有关股东通函
所规定提交期限内向本公司之公司秘书递
交(a)候选人提名书，(b)该名候选人参选意
愿之确认书，及(c)根据上市规则规定该名
候选人之履历详情。获提名候选人之详情
将藉补充通函寄发全体股东以供参考。
反贪污政策及举报政策
反贪污政策及举报政策载于本年报第99页「反贪
污政策」一节。
企业管治职能
董事会须负责履行且已遵守履行企业管治守则
所载企业管治职务，包括制订及检讨本集团有
关企业管治的政策及惯例并向董事会作出推荐
建议；审阅及监察董事及高级管理层的培训及
持续专业进修情况；检讨及监控本集团有关符
合法律及监管规定的政策及实务；制订、检讨
及监察适用于员工及董事的行为守则及合规手
册（如有）；以及审阅本集团对企业管治守则的
合规情况及本企业管治报告内的披露事项。
34GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
CORPORATE GOVERNANCE REPORT
企业管治报告
DIRECTORS’ RESPONSIBILITY FOR THE
FINANCIAL STATEMENTS
The Directors are responsible for the preparation of the financial
statements which give a true and fair view of the state of afairs of the
Group in acordance with acounting principles generaly acepted
in Hong Kong. The statement by the auditor of the Company about
their responsibilities for the financial statements is set out in the
independent auditor’s report contained in this anual report. There
are no material uncertainties relating to events or conditions that may
cast significant doubt of the Company’s ability to continue as a going
concern.
AUDITOR’S REMUNERATION
The remuneration paid and payable for the year ended 31 March
2025 to the Company’s external auditor, OP CPA & Co., is set out
as folows:
HK$’000
Services rendered to the Group向本集团提供的服务千港元
Audit services审计服务980
董事就财务报表须承担的责任
董事须负责按照香港公认会计原则编制真实而
中肯地反映本集团事务状况的财务报表。本公
司核数师就其对财务报表须承担责任的声明载
于本年报内独立核数师报告。概无任何有关事
件或情况的重大不明朗因素乃可能对本公司持
续经营能力构成重大疑虑。
核数师酬金
于截至2025年3月31日止年度，向本公司外部核
数师奥柏国际会计师事务所已付及应付酬金载
列如下：
352024/25 年期 • GC CONSTRUCTION HOLDINGS LIMITED
CORPORATE GOVERNANCE REPORT
企业管治报告
INTERNAL CONTROL AND RISK MANAGEMENT
The Board has overal responsibility for maintaining an adequate
system of internal controls and risk management of the Company
and for reviewing its efectivenes. The Board is comited to
implementing an efective and sound internal control and risk
management systems to safeguard the interest of shareholders and
the Group’s asets. The Board has reviewed the efectivenes of the
internal control and risk management systems of the Group through
Audit Comite. The Audit Comite asists the Board in the
review of the efectivenes of the Group’s risk management and
internal control systems on an ongoing basis. The Directors through
the Audit Comite are kept informed of significant risks that may
impact on the Group’s performance.
The Audit Comite has received the risk management and internal
control evaluation reports prepared by the external internal control
review consultant. The reports sumarised information relating to
the work caried out in the folowing areas:
- ,
operation, and the financial records of the Company;
2. a general evaluation of risk management and internal control
systems instaled by the Company; and
- , if any, noticed during the year
under review.
内部管控及风险管理
董事会须就本公司维持完备的内部管控及风险
管理系统以及检讨其是否行之有效承担整体责
任。董事会致力实施有效及稳健内部管控及风
险管理系统，以保障股东利益及本集团资产。
董事会已透过审核委员会检讨本集团内部管控
及风险管理系统的效能。审核委员会协助董事
会持续检讨本集团风险管理及内部管控系统是
否行之有效。董事透过审核委员会持续获悉有
关可能影响本集团表现的重大风险。
审核委员会已省览外部内部管控检讨顾问所编
制风险管理及内部管控评估报告。该等报告概
述以下范围内所进行工作的相关资料：
- 、运作及
财务记录之结果；
2. 对本公司制订的风险管理及内部管控系统
的整体评估；及
- （如
有）。
36GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
CORPORATE GOVERNANCE REPORT
企业管治报告
The Audit Comite has reviewed the reports and discused
with the management of the Company. The Audit Comite
acknowledged that the management of the Company has ben
progresively implementing adequate and efective risk management
and internal control systems in order to ensure the efective
functioning of the Company’s operations. The Board is therefore
of the view that the risk management and internal control systems
of the Group are efective and adequate. The review on the risk
management and internal control systems of the Group would be
done on an anual basis. Although, the Group does not have an
internal audit function having considered the complexity of the
Group’s operation, the Board considers that the review on the risk
management and internal control systems by the Audit Comite
and the Board on a regular basis as wel as engaging external internal
control review consultant to review the adequacy and efectivenes
of the Group’s internal control systems would be suficient to ensure
the efective operation of the Group. The Audit Comite and the
Board wil continue to review the ned for an internal audit function
on an anual basis.
COMPANY SECRETARY
Mr. Yu Tsz Ngo was apointed as the Company Secretary with efect
from 12 June 2023. Mr. Yu Tsz Ngo has over 15 years of experience
in the related fields of finance, auditing, acounting, corporate
governance practices and company secretarial maters, and poseses
the requisite qualification and experience as required under Rule 3.28
of the Listing Rules. Mr. Yu Tsz Ngo obtained a bachelor degre of
comerce (acounting and finance) and a master degre of aplied
finance from Monash University of Australia in December 2005 and
December 2006, respectively. He is a member of the Certified Public
Acountants Australia and a felow member of the Hong Kong
Institute of Certified Public Acountants.
Mr. Yu Tsz Ngo has confirmed that he has undertaken no les than
15 hours of relevant profesional training during the year ended 31
March 2025 in compliance with Rule 3.29 of the Listing Rules.
审核委员会已审阅该等报告，并与本公司管理
层进行讨论。审核委员会认同本公司管理层一
直逐步实施完备及有效的风险管理及内部管控
系统，以确保本公司营运有效运作。董事会因
此认为，本集团的风险管理及内部管控系统有
效及完备。本集团会每年检讨风险管理及内部
管控系统。尽管本集团尚未有任何内部审计职
能，考虑到本集团营运复杂，董事会认为，审
核委员会及董事会定期检讨风险管理及内部管
控系统以及委聘外部内部管控检讨顾问检讨本
集团内部管控系统是否完备及行之有效，足以
确保本集团有效运作。审核委员会及董事会将
继续每年检讨是否需要内部审计职能。
公司秘书
余子敖先生已于2023年6月12日获委任为公司秘
书。余子敖先生在财务、审计、会计、企业管治
实务以及公司秘书事宜的相关领域拥有逾15年
经验，并具备上市规则第3.28条项下规定的必
要资格及经验。余子敖先生分别于2005年12月
及2006年12月获得澳洲蒙纳士大学商学士学
位（会计及金融）以及应用金融硕士学位。彼为
澳洲会计师公会员及香港会计师公会资深会
员。
余子敖先生已确认，截至2025年3月31日止年
度，彼已按上市规则第3.29条接受不少于15个
小时的相关专业培训。
372024/25 年期 • GC CONSTRUCTION HOLDINGS LIMITED
CORPORATE GOVERNANCE REPORT
企业管治报告
SHAREHOLDERS’ RIGHTS
Procedures for Shareholders to Convene an
Extraordinary General Meting
The folowing procedures for shareholders of the Company to
convene an extraordinary general meting (the “EGM”) of the
Company are prepared in acordance with Article 64 of the Articles
of Asociation of the Company:
1. One or more shareholders holding, at the date of deposit of the
requisition, not les than one-tenth of the paid up capital of the
Company having the right of voting at general metings may,
by writen requisition to the Board or the Company Secretary of
the Company require an EGM to be caled by the Board for the
transaction of any busines specified in such requisition.
2. The EGM shal be held within 2 months after the deposit of such
requisition.
If the Directors fail to proced to convene such meting within
21 days of such deposit of requisition, the requisitionist(s) himself
(themselves) may do so in the same maner, and al reasonable
expenses incured by the requisitionist(s) as a result of the failure of
the Board shal be reimbursed to the requisitionist(s) by the Company.
Procedures for Raising Enquires
1. Shareholders should direct their enquires about their
shareholdings to the Company’s branch share registrar in Hong
Kong by post to 2103B, 21st Flor, 148 Electric Road, North
Point, Hong Kong.
2. Shareholders may raise questions, request for publicly available
information and provide coments and sugestion to the
Directors and management of the Company and can be
adresed to the Company by post to Unit 909, 9th Flor,
Tower 1, Cheung Sha Wan Plaza, 833 Cheung Sha Wan Road,
Kowlon, Hong Kong.
3. Shareholders are reminded to lodge their questions together
with their detailed contact information for the prompt response
from the Company if it dems apropriate.
股东权益
股东召开股东特别大会的程序
以下为根据本公司组织章程细则第64条制订的
本公司股东召开股东特别大会（「股东特别大
会」）的程序：
1. 一名或多名持有权在股东大会上投票之
本公司实缴股本不少于十分之一的股东可
藉向本公司董事会或公司秘书提交请求
书，要求董事会就处理有关要求书所指明
之任何事务而召开股东特别大会。
2. 股东特别大会须在提出该请求书后两个月
内召开。
如董事在请求书提出日期起计21天内未有进行
安排召开有关会议，则请求人（或多名请求人）
可用相同方式自行召开会议，且请求人因董事
会未有妥为召开会议而招致的所有合理费用，
须由本公司偿还请求人。
提出查询的程序
- ，应邮寄询
问本公司香港股份过户分处，地址为香港
北角电气道148号21楼2103B室。
2. 股东可就向本公司董事及管理层提出问
题、索取公开资料以及提供意见及反馈邮
寄至本公司，地址为香港九龙长沙湾道833
号长沙湾广场1期9楼909室。
3. 为方便本公司在其认为适当的情况下及时
回复，谨此提请股东将其查询问题连同详
细联络资料一并提交。
38GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
CORPORATE GOVERNANCE REPORT
企业管治报告
Procedures and Contact Details for Puting Forward
Proposals at Shareholders’ Metings
1. To put forward proposals at the general meting of the
Company, a shareholder should lodge a writen notice of his/
her/its proposal (“Proposal”) with his/her/its detailed contact
information at the Company’s principal place of busines at Unit
909, 9th Flor, Tower 1, Cheung Sha Wan Plaza, 833 Cheung
Sha Wan Road, Kowlon, Hong Kong for the atention of the
Board or the Company Secretary of the Company.
2. The identity of the shareholder and his/her/its request wil be
verified with the Company’s branch share registrar in Hong
Kong and upon confirmation by the branch share registrar that
the request is proper and in order and made by a shareholder,
the Board wil include the Proposal in the agenda for the general
meting.
3. The notice period to be given to al the shareholders for
consideration of the Proposal raised by the shareholders
concerned at the anual general meting or an EGM varies
acording to the nature of the Proposal as folows: (i) At least
21 days’ notice in writing if the Proposal constitutes a special
resolution of the Company in an EGM or if the Proposal is put
forward at an anual general meting of the Company; or (i)
At least 14 days’ notice in writing if the Proposal constitutes an
ordinary resolution of the Company at an EGM.
于股东大会上提呈建议的程序及联络资
料
- ，
应将有关其建议之书面通知（「建议书」）连
同其详细联络资料提交至本公司主要营业
地点，地址为香港九龙长沙湾道833号长沙
湾广场1期9楼909室，并注明本公司董事会
或公司秘书收件。
2. 股东身份及其请求将由本公司香港股份过
户分处核证，一经股份过户分处确认该请
求乃由股东正式妥当作出，董事会将会将
建议书纳入股东大会议程。
3. 就于股东周年大会或股东特别大会上考虑
有关股东所提出建议书而言，按照建议书
内容性质而须向全体股东发出的通知期间
如下：(i)倘建议书构成股东特别大会上本
公司之特别决议案或倘建议书提呈本公司
股东周年大会，则为至少21日书面通知；
或(i)倘建议书构成股东特别大会上本公司
之普通决议案，则为至少14日书面通知。
392024/25 年期 • GC CONSTRUCTION HOLDINGS LIMITED
CORPORATE GOVERNANCE REPORT
企业管治报告
COMUNICATION WITH SHAREHOLDERS AND
INVESTORS
The Company considers that efective comunication with
shareholders is esential for enhancing investor relations and
investors’ understanding of the Group’s busines performance
and strategies. The Company also recognizes the importance of
transparency and timely disclosure of corporate information, which
wil enable shareholders and investors to make the best investment
decisions.
The Company considers that efective comunication with its
shareholders is esential for enhancing investor relations and investor
understanding of the Group’s busines performance and strategies.
The Company endeavours to maintain an on-going dialogue with
its shareholders and in particular, through anual general metings
and other general metings, isuing to its shareholders corporate
comunications such as interim results and anual results, financial
reports, anouncements and circulars in acordance with the Listing
Rules. Shareholders may make enquiries with the Company through
chanels of the Company’s corporate website w.chankiu.hk and
provide coments and recomendations to the Directors. Upon
receipt of enquiries from shareholders, the Company wil respond as
son as practicable.
Please refer to the website of disemination of corporate
comunications and the request form for printed copies of the
anual reports, interim reports and circulars. Shareholders are
encouraged to provide their up-to-date contact details (including
electronic contact details) to the branch share registrar of the
Company in order to facilitate timely and efective comunications.
The anual general meting provides a platform for comunication
betwen the Board and the shareholders. The Chairman of the Board
as wel as the chairmen of the Audit Comite, Remuneration
Comite and Nomination Comite or, in their absence, other
members of the respective comites, are available to answer
questions at shareholders’ meting.
The Company considers that it establishes efective comunication
chanels with its shareholders through its website and the anual
general meting.
During the year ended 31 March 2025, there was no change to the
constitutional documents of the Company.
与股东及投资者沟通
本公司认为与股东有效沟通对加强投资者关系
以及投资者对本集团业务表现及战略的理解具
关键作用。本公司亦明白企业资讯透明度和及
时披露能使股东及投资者作出最佳投资决策，
实属重要工作。
本公司认为与股东有效沟通对加强投资者关系
以及投资者对本集团业务表现及战略的理解具
关键作用。本公司致力维持与股东持续对话，
尤其是透过股东周年大会及其他股东大会、根
据上市规则向股东发布中期业绩及年度业绩、
财务报告、公告及通函等公司通讯。股东可透过
本公司的公司网站w.chankiu.hk等渠道向本
公司提出查询并向董事提供意见及推荐建议。
本公司接获股东查询后将尽快作出回应。
请参阅发布公司通讯的网站以及索取年报、中
期报告及通函印刷本的表格。本公司鼓励股东
向本公司股份过户登记分处提供最新的联系资
料（包括电子联系方式），以便及时有效地进行
沟通。
股东周年大会为董事会与股东之间沟通提供平
台。董事会主席以及审核委员会、薪酬委员会
及提名委员会主席（或倘缺席，相关委员会之其
他成员）会于股东大会上回答提问。
本公司认为，其已通过网站及股东周年大会与
其股东建立有效的沟通渠道。
截至2025年3月31日止年度期间，本公司章程文
件概无变动。
REPORT OF THE DIRECTORS
董事会报告
40GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
The Directors present the anual report and the audited consolidated
financial statements of the Group for the year ended 31 March 2025.
CORPORATE REORGANISATION AND SHARE
OFER
The Company was incorporated with limited liability in Cayman
Islands on 28 April 2020.
Pursuant to a reorganisation scheme (the “Reorganisation”) to
rationalise the structure of the Group in preparation for the Listing,
the Company became the holding company of the companies now
comprising the Group on 17 November 2020.
Details of the Reorganisation are set out in section headed “History,
Development and Reorganisation” in the Prospectus. The Shares
were listed on the Stock Exchange on 10 October 2022 (the “Listing
Date”).
PRINCIPAL ACTIVITIES
The principal activity of the Company is investment holding while
its operating subsidiaries are principaly engaged in provision of wet
trades works in Hong Kong and construction works in Cambodia.
RESULTS AND APROPRIATIONS
The results of the Group for the year ended 31 March 2025 are set
out in the consolidated statement of comprehensive income on page
120.
MAJOR CUSTOMERS AND SUPLIERS
During the year ended 31 March 2025, revenue contributed by
the largest and the top five customers of the Group acounted
for aproximately 13.2% (2024: aproximately 19.4%) and
aproximately 53.3% (2024: aproximately 72.2%) of the Group’s
total revenue, respectively.
During the year ended 31 March 2025, the Group’s cost of
services from the largest and the top five supliers acounted for
aproximately 5.0% (2024: aproximately 6.4%) and aproximately
21.9% (2024: aproximately 18.5%) of the Group’s total cost of
services, respectively.
董事呈列本集团截至2025年3月31日止年度的年
报及经审核综合财务报表。
公司重组及股份发售
本公司于2020年4月28日于开曼群岛注册成立为
有限公司。
根据为筹备上市而精简本集团架构的重组计划
（「重组」），本公司于2020年11月17日成为本集
团现时旗下公司的控股公司。
有关重组的详情载于招股章程「历史、发展及
重组」一节。股份自2022年10月10日（「上市日
期」）起于联交所上市。
主要业务
本公司的主营业务为投资控股，而其营运附属
公司的主营业务为于香港提供泥水工程服务及
柬埔寨的建造工程。
业绩及分派
本集团截至2025年3月31日止年度的业绩载于第
120页之综合全面收入表。
主要客户及供应商
截至2025年3月31日止年度，由本集团最大及五
大客户贡献的收入分别占本集团总收入约13.2%
（2024年：约19.4%）及约53.3%（2024年：约
72.2%）。
截至2025年3月31日止年度，本集团最大及五
大供应商的服务成本分别占本集团服务成本总
额约5.0%（2024年：约6.4%）及约21.9%（2024
年：约18.5%）。
412024/25 年期 • GC CONSTRUCTION HOLDINGS LIMITED
REPORT OF THE DIRECTORS
董事会报告
据董事所深知，除综合财务报表附注26及本报
告「关连及关联方交易」一节所披露者外，概无
董事、彼等各自的紧密联系人或本公司任何股
东（据董事所知拥有本公司已发行股本5%以上）
于本集团任何五大客户或供应商中拥有任何权
益。
与客户、供应商及雇员的关系
客户
本集团与其主要客户维持良好关系。本集团重
视与客户的关系，原因是本集团认为与客户保
持良好关系对于业务的成功至为重要。长期工
作关系有助本集团及时了解客户需求，并提高
其在香港泥水工程行业的知名度。董事认为，
与客户保持良好关系将增加就即将进行项目获
邀投标或报价的机会，有利于为本集团确保获
得稳定的项目数目。本集团致力监察所有项目
的人力、机械及材料分配，以回应对客户需求。
供应商及分包商
董事认为，及时交付材料及提供劳工协助可令
本集团遵守客户的时间表，对本集团业务的顺
利运作至为重要。因此，本集团已与其主要供
应商及分包商建立稳定业务关系。本集团亦备
存一份获认可供应商及分包商名单，并根据内
部对其表现的评估定期检讨及更新，以确保供
应商及分包商进行的所有工程均符合相关合约
要求。
To the best of the knowledge of the Directors, save as disclosed
under Note 26 to the consolidated financial statements and the
section headed “Conected and Related Party Transactions” in this
report, none of the Directors, their respective close asociates or
any shareholder of the Company (which to the knowledge of the
Directors owns more than 5% of the isued share capital of the
Company), had any interest in any of the Group’s top five customers
or supliers.
RELATIONSHIP WITH CUSTOMERS, SUPLIERS
AND EMPLOYES
Customers
The Group has maintained god relationships with its major
customers. The Group values the relationships with its customers as
it believes that maintaining god relationships with them is crucial
to the suces of the busines. The long-term working relationship
can help the Group to understand the demands of its customers in a
timely maner and also increase its visibility in the wet trades works
industry in Hong Kong. The Directors consider that maintaining
god relationships with its customers would increase the chance of
being invited to tender or quote for the forthcoming projects, which
is conducive to securing a steady stream of projects for the Group.
The Group strives to monitor manpower, machinery and material
distribution in al projects in response to the customers’ demands.
Supliers and Subcontractors
The Group has established stable busines relationships with its
supliers and subcontractors which is esential to the smoth
operation of the Group’s busines, as the Directors consider that
timely delivery of materials and provision of labour asistance can
enable the Group to met the schedules of its customers. The Group
has also maintained a list of aproved supliers and subcontractors
which is periodicaly reviewed and updated based on the internal
asesment of their performance, to ensure that al works performed
by the supliers and subcontractors satisfy the requirements of the
relevant contract.
42GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
REPORT OF THE DIRECTORS
董事会报告
Employes
The Group maintains a coperative and god relationship with its
management and employes in providing competitive remuneration,
staf welfare and benefits. In general, the Group reviews and
determines the remuneration packages of its employes on a
periodical basis by reference to, among other things, the market
level of salaries paid by comparable companies, the respective
responsibilities of its employes and the performance of the
employes and the Group.
RESULTS/BUSINES REVIEW
A review of the busines of the Group as wel as discusion and
analysis of the Group’s performance during the year and the material
factors underlying its financial performance and financial position are
set out in the section headed” Management Discusion and Analysis”
of this anual report. This discusion forms an integral part of this
report.
FUTURE DEVELOPMENT
The future development of the Group’s busines is set out in the
section headed “Chairman’s Statement – Prospects” of this anual
report.
COMPLIANCE WITH LAWS AND REGULATIONS
During the year ended 31 March 2025, as far as the Directors are
aware, the Company did not have any non-compliance with the
relevant laws and regulations that is material or systemic in nature.
ENVIRONMENTAL POLICIES AND
PERFORMANCE
As a contractor specialising in wet trades works, the Group values
environmental sustainability and has ben striving to integrate the
concept into every part of the daily busines operations. The Board
has overal responsibility for the Group’s environmental, social and
governance strategy and reporting. The Board is responsible for
the Group’s ESG risk management and internal control systems to
ensure that the ESG strategies and reporting requirements are met.
Discusion on the Group’s environmental policies and performances
are in the section headed “Environmental, Social and Governance
Report” in this anual report.
SHARE CAPITAL
Details of movements in the share capital of the Company during the
year ended 31 March 2025 are set out in Note 24 to the consolidated
financial statements.
雇员
本集团在提供具竞争力的薪酬、员工福祉及福
利方面与其管理层及雇员保持良好合作关系。
一般而言，本集团定期参考（其中包括）可资比
较公司支付的薪酬市场水平、雇员各自的职责
以及雇员与本集团的表现，检讨及厘定雇员薪
酬待遇。
业绩╱业务回顾
本集团于年内的业务回顾以及本集团表现的讨
论及分析以及其财务表现及财务状况相关的重
大因素载于本年报「管理层讨论及分析」一节。
本讨论构成本报告的一个组成部分。
未来发展
本集团业务的未来发展载于本年报「主席报告－
前景」一节。
遵守法律法规
截至2025年3月31日止年度，就董事所悉，本公
司概无任何违反相关法律法规的重大或系统性
不合规情况。
环境政策及绩效
作为专门从事泥水工程的承建商，本集团重视
环境的可持续性，并一直致力于将该理念融入
日常业务营运的各个环节。董事会全面负责本
集团的环境、社会及管治策略及汇报事宜。董
事会负责本集团与环境、社会及管治风险管理
及内部控制系统有关的工作，以确保我们符合
环境、社会及管治策略及汇报要求。有关本集
团环境政策及绩效的讨论载于本年报「环境、社
会及管治报告」一节。
股本
本公司于截至2025年3月31日止年度的股本变动
详情载于综合财务报表附注24。
432024/25 年期 • GC CONSTRUCTION HOLDINGS LIMITED
REPORT OF THE DIRECTORS
董事会报告
RESERVES
Details of movements in the reserves of the Group and the Company
during the year ended 31 March 2025 are set out in the consolidated
statement of changes in equity and Note 30 to the consolidated
financial statements, respectively.
DISTRIBUTABLE RESERVES
As at 31 March 2025, the Company had distributable reserves of
aproximately HK$81.1 milion (2024: aproximately HK$82.2
milion) calculated in acordance with the Companies Law (as revised)
of the Cayman Islands.
DONATIONS
Donation of amount aproximately HK$64,000 (2024: aproximately
HK$0.2 milion) was made by the Group for the year ended 31 March
2025.
SEGMENT INFORMATION
Details of segment reporting are set out in Note 5 to the consolidated
financial statements.
DIVIDEND POLICY
The Company has adopted a dividend policy which aims to set out
the principles and guidelines that the Company intends to aply
in relation to the declaration, payment or distribution of its profits,
realised or unrealised, or from any reserve set aside from profits, as
dividends to the shareholders of the Company. The Board adopted
the dividend policy that, in recomending or declaring dividends,
the Company shal maintain adequate cash reserves for meting
its working capital requirements and future growth as wel as its
shareholder value.
The Company does not have any pre-determined dividend
distribution ratio. The Board has the discretion to declare and
distribute dividends to the shareholders of the Company, subject to
the provisions of the Articles of Asociation and al aplicable laws
and regulations and the factors set out below.
The Board shal also take into acount the factors of the Group
when considering the declaration and payment of dividends such
as operations, earnings, financial condition, cash requirements and
availability, capital expenditure, future development requirements,
busines conditions and strategies, interests of shareholders, any
restrictions on payment of dividends, and any other factors that the
Board may consider relevant.
储备
本集团及本公司于截至2025年3月31日止年度的
储备变动详情分别载于综合权益变动表及综合
财务报表附注30。
可供分派储备
于2025年3月31日，本公司有约81.1百万港元的
可供分派储备（2024年：约82.2百万港元），有
关金额根据开曼群岛《公司法》（经修订）计算。
捐款
截至2025年3月31日止年度，本集团已作出捐款
约64,000港元（2024年：约0.2百万港元）。
分部资料
分部报告详情载于综合财务报表附注5。
股息政策
本公司已采纳一项股息政策，该政策旨在载列
本公司就宣派、派付或分派其溢利（不论已变现
或未变现），或自溢利中划出的任何储备作为股
息宣派、派付或分派予本公司股东时拟应用的
原则及指引。董事会采纳一项股息政策，该政
策为在建议或宣派股息时，本公司须维持充足
现金储备，以应付其营运资金需求及未来增长
以及股东价值。
本公司并无任何预定股息分派比率。董事会可
酌情决定向本公司股东宣派及分派股息，惟须
受组织章程细则条文及所有适用法律法规以及
下述因素所规限。
董事会于考虑宣派及派付股息时亦须计及本集
团的有关因素，如营运、盈利、财务状况、现金
需求及可用情况、资本支出、未来发展需求、业
务状况及策略、股东权益、派付股息的任何限
制，以及董事会可能视为相关的任何其他因素。
44GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
REPORT OF THE DIRECTORS
董事会报告
Depending on the financial conditions of the Company and the
Group and the conditions and factors as set out above, dividends
may be proposed and/or declared by the Board for a financial year
or period as interim dividend, final dividend, special dividend, and
any distribution of profits that the Board may dem apropriate. The
Company may declare and pay dividends by way of cash or scrip or
by other means that the Board considers apropriate. Any dividend
unclaimed shal be forfeited and shal revert to the Company in
acordance with the Articles of Asociation.
DIVIDEND
The Board has resolved not to recomend the declaration of dividend
for the year ended 31 March 2025 (2024: nil).
PRINCIPAL RISKS AND UNCERTAINTIES
The executive Directors believe that there are certain risks and
uncertainties involved in the operations. Some of the material risks
include:
(i) most of the revenue during the year ended 31 March 2025
was derived from projects awarded by a limited number
of customers and any significant decrease in the number
of projects with the major customers may materialy and
adversely afect the financial performance;
(i) the revenue is mainly derived from projects which are
non-recurent in nature and there is no guarante that the
customers wil provide the Group with new busineses;
(i) unsatisfactory performance by the subcontractors or
unavailability of subcontractors may adversely afect the
operation and profitability; and
(iv) any material inacurate cost estimation or cost overuns may
adversely afect the financial results.
PRE-EMPTIVE RIGHTS
There are no provisions for pre-emptive rights under the Company’s
articles of asociation or the laws of the Cayman Islands, the
jurisdiction in which the Company was incorporated, which would
oblige the Company to ofer new shares on a pro rata basis to existing
shareholders.
TAX RELIEF
The Directors are not aware of any tax relief available to the
shareholders by reason of their holding of the Company’s securities.
视乎本公司及本集团的财务状况以及上述状况
及因素，董事会可就财政年度或期间建议及╱
或宣派中期股息、末期股息、特别股息及任何
董事会可能视为适当的溢利分派作为股息。本
公司可以现金或以股代息或董事会认为适当的
其他形式宣派及派付股息。任何未领取的股息
须予以没收，并须根据组织章程细则复归本公
司。
股息
董事会已议决不建议宣派截至2025年3月31日止
年度的股息（2024年：无）。
主要风险及不确定因素
执行董事认为，业务营运中存在若干风险及不
确定因素。部分重大风险包括：
(i) 截至2025年3月31日止年度，大部分收益
来自少数客户授予的项目，及来自主要
客户的项目数量的任何重大减少均可能
对财务表现造成重大不利影响；
(i) 收益主要来自非经常性项目，故概不保
证客户向本集团提供新业务；
(i) 分包商表现欠佳或未能物色分包商或会
对业务及盈利能力造成不利影响；及
(iv) 成本估计出现重大误差或成本超支或会
对财务业绩或会造成不利影响。
优先购买权
本公司组织章程细则或本公司注册成立所在司
法权区开曼群岛的法律均无任何有关优先购买
权的条文，规定本公司须按比例向现有股东提
呈发售新股份。
税务优惠
董事并不知悉股东因持有本公司证券而享有任
何税务优惠。
452024/25 年期 • GC CONSTRUCTION HOLDINGS LIMITED
REPORT OF THE DIRECTORS
董事会报告
EQUITY-LINKED AGREMENTS
Save for the Share Option Scheme (as defined below) the Company
did not enter into any equity-linked agrement during the year ended
31 March 2025 or subsisted at the end of the year ended 31 March
2025.
PLANT AND EQUIPMENT
Details of movements in plant and equipment of the Group during
the year ended 31 March 2025 are set out in Note 14 to the
consolidated financial statements.
SUBSIDIARIES
Details of subsidiaries of the Company are set out in Note 25 to the
consolidated financial statements.
CORPORATE GOVERNANCE
Information on the corporate governance practices adopted by the
Company are set out in the section headed “Corporate Governance
Report” in this anual report.
DIRECTORS
The directors of the Company during the year ended 31 March 2025
and up to the date of this report were as folows:
Executive Directors
Mr. Chan Kiu Sum (Chairman and Chief Executive Oficer)
Mr. Chan Wing Ping
Ms. Chan Chui Ying
Independent non-executive Directors
Dr. Huang Hong
Mr. Yu Chi Wing
Dr. Lo Ki Chiu
Dr. Luk Che Chung, JP
In acordance with Articles 108 and 112 of the Articles of
Asociation, Mr. Chan Wing Ping, Dr. Huang Hong and Dr. Luk
Che Chung, JP wil retire by rotation and, being eligible, wil ofer
themselves for election at the forthcoming anual general meting.
The Company has received anual confirmations of independence
from each of the independent non-executive Directors required
Rule 3.13 of the Listing Rules. Upon the recomendation of the
nomination comite of the Company, the Board considered al
independent non-executive Directors to be independent. Biographical
information of the Directors and the senior management of the
Group are set out in the section headed “Biography of Directors and
Senior Management” of this anual report.
股权挂钩协议
除购股权计划（定义见下文）外，本公司于截至
2025年3月31日止年度并无订立或于截至2025
年3月31日止年度末并不存在任何股权挂钩协
议。
厂房及设备
本集团于截至2025年3月31日止年度的厂房及设
备变动详情载于综合财务报表附注14。
附属公司
本公司的附属公司详情载于综合财务报表附注
25。
企业管治
有关本公司所采纳企业管治常规的资料载于本
年报「企业管治报告」一节。
董事
截至2025年3月31日止年度及直至本报告日期，
本公司董事如下：
执行董事
陈桥森先生（主席兼行政总裁）
陈永平先生
陈翠盈小姐
独立非执行董事
黄虹博士
于志荣先生
卢其钊博士
陆志聪医生，太平绅士
根据组织章程细则第108及112条，陈永平先
生、黄虹博士及陆志聪医生，太平绅士将于应届
股东周年大会上轮席退任并符合资格且愿意重
选连任。根据上市规则第3.13条之规定，本公司
已接获各独立非执行董事发出的年度独立性确
认书。于本公司提名委员会推荐后，董事会认
为，全体独立非执行董事均属独立人士。董事
及本集团高级管理层的履历详情载于本年报「董
事及高级管理层履历」一节。
46GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
REPORT OF THE DIRECTORS
董事会报告
DIRECTORS’ SERVICE CONTRACTS
Each of the executive Director has entered into a service agrement
with the Company for an initial fixed term of thre years comencing
from the Listing Date. The term of service shal be renewed and
extended automaticaly by thre years on the expiry of such initial
term and on the expiry of every sucesive period of thre years
thereafter, unles terminated by either party thereto giving at least
thre months’ writen notice of non-renewal before the expiry of the
then existing term.
Each of the independent non-executive Directors has entered into an
apointment leter with the Company for an initial fixed term of one
year comencing from the Listing Date. The term of service shal be
renewed and extended automaticaly by one year on the expiry of
such initial term and on the expiry of every sucesive period of one
year thereafter, unles terminated by either party thereto giving at
least one month’s writen notice of non-renewal before the expiry of
the then existing term.
None of the Directors being proposed for re-election at the
forthcoming AGM has any service agrement or apointment leter
with any member of the Group which is not determinable by the
Group within one year without the payment of compensation (other
than statutory compensation).
PERMITED INDEMNITY PROVISION
Pursuant to the Articles of Asociation, every Director or other oficers
of the Company shal be indemnified and secured harmles out of the
asets of the Company from and against al actions, costs, charges,
loses, damages and expenses which they or any of them, their or
any of their executors or administrators, shal or may incur or sustain
by reason of any act done, concured in or omited in or about the
execution of their duty or suposed duty in their respective ofices or
trusts, except such (if any) as they shal incur or sustain through their
own fraud or dishonesty.
SHARE OPTION SCHEME
The Company has conditionaly adopted a share option scheme (the
“Share Option Scheme”) pursuant to the writen resolutions of the
then sole Shareholder pased on 13 September 2022.
No awards or options had ben granted, agred to be granted,
exercised, canceled, forfeited or lapsed under the Share Option
Scheme during the year ended 31 March 2025.
董事服务合约
各执行董事已与本公司订立服务协议，初步固
定任期自上市日期起计为期三年。服务任期将
于有关初步任期届满后及其后每三年届满后自
动重续及延长三年，直至其中一方于当时任期
届满前向另一方发出最少三个月的书面通知终
止重续。
各独立非执行董事已与本公司订立委任函，初
步固定任期自上市日期起计为期一年。服务任
期将于有关初步任期届满后及其后每一年届满
后自动重续及延长一年，直至其中一方于当时
任期届满前向另一方发出最少一个月的书面通
知终止重续。
概无董事（即建议于应届股东周年大会上重选连
任的董事）与本集团任何成员公司订立任何服务
协议或委任函（不可由本集团于一年内免付赔偿
（法定赔偿除外）而终止）。
获准许弥偿保证条文
根据组织章程细则，本公司各董事或其他高级
职员均可从本公司的资产中获得弥偿，该等人
士或任何该等人士、该等人士的遗嘱执行人或
遗产管理人或任何该等人士的遗嘱执行人或遗
产管理人就各自的职务或信托执行其职责或假
定职责时因任何所作出、发生的作为或不作为
而将或可能招致或蒙受的所有诉讼、费用、收
费、损失、损害及开支，可获确保就此免受任
何损害，惟因该等人士欺诈或不忠诚而招致或
蒙受者（如有）除外。
购股权计划
本公司已根据当时唯一股东于2022年9月13日
通过的书面决议案有条件采纳一项购股权计划
（「购股权计划」）。
于截至2025年3月31日止年度，概无奖励或购股
权在购股权计划项下获授出、同意授出、行使、
注销、没收或失效。
472024/25 年期 • GC CONSTRUCTION HOLDINGS LIMITED
REPORT OF THE DIRECTORS
董事会报告
Sumary of terms of the Share Option Scheme
(a) Purpose of the Share Option Scheme
The purpose of the Share Option Scheme is to enable the Group
to grant options to the eligible participants as incentives or
rewards for their contribution to the Group and/or to enable the
Group to recruit and retain high-calibre employes and atract
human resources that are valuable to the Group or any entity
in which any member of the Group holds any equity interest
(the “Invested Entity”). As at 31 March 2025, there was no
“Invested Entity” other than members of the Group, and the
Group had not identified any potential “Invested Entity” for
investment.
(b) Who may join
The Directors shal, in acordance with the provisions of the
Share Option Scheme and the Listing Rules, be entitled but
shal not be bound at any time within a period of 10 years
comencing from the date of the adoption of the Share Option
Scheme to make an ofer to any of the folowing clases:
(i) any employe (whether ful time or part time, including
the Directors (including any independent non-executive
Director) of the Company, any of its subsidiaries (within
the meaning of the Companies Ordinance) or any Invested
Entity (an “eligible employe”);
(i) any suplier of gods or services to any member of the
Group or any Invested Entity;
(i) any customer of any member of our Group or any Invested
Entity;
(iv) any person or entity that provides research, development
or other technological suport to any member of the
Group or any Invested Entity;
(v) any shareholder of any member of the Group or any
Invested Entity or any holder of any securities isued by any
member of the Group or any Invested Entity;
(vi) any adviser (profesional or otherwise), consultant,
individual or entity who in the opinion of the Directors
has contributed or wil contribute to the growth and
development of the Group; and
购股权计划条款概要
(a) 购股权计划目的
购股权计划旨在让本集团向合资格参与者
授出购股权，作为其对本集团作出贡献的
激励或奖励及╱或令本集团有能力招聘及
挽留高质素雇员及吸引对本集团或本集团
任何成员公司持有任何股权的任何实体
（「投资实体」）具有价值的人才。于2025年
3月31日，除本集团的成员公司外，概无任
何「投资实体」，且本集团并未物色任何潜
在「投资实体」进行投资。
(b) 可参与人士
按照购股权计划的条文及上市规则，董事
应有权（但不受约束）于采纳购股权计划当
日起计10年期间内随时向任何属以下类别
的人士作出要约：
(i) 本公司、其任何附属公司（定义见公司
条例）或任何投资实体的任何雇员（无
论全职或兼职）（包括董事（包括任何
独立非执行董事）（「合资格雇员」）；
(i) 本集团任何成员公司或任何投资实体
的任何货品或服务供应商；
(i) 本集团任何成员公司或任何投资实体
的任何客户；
(iv) 向本集团任何成员公司或任何投资实
体提供研究、开发或其他技术支持的
任何人士或实体；
(v) 本集团任何成员公司或任何投资实体
的任何股东或本集团任何成员公司或
任何投资实体所发行的任何证券的任
何持有人；
(vi) 董事认为已对或将对本集团的增长及
发展作出贡献的任何顾问（专业或非
专业）、咨询人、个人或实体；及
48GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
REPORT OF THE DIRECTORS
董事会报告
(vi) any other group or clas of participants who have
contributed or may contribute by way of joint venture,
busines aliance or other busines arangement to the
development and growth of the Group;
and, for the purpose of the Share Option Scheme, the ofer for
the grant of an option may be made to any company wholy
owned by one or more eligible participants.
For the avoidance of doubt, the grant of any option by the
Company for the subscription of Shares or other securities of the
Group to any person who fals within any of the above clases
of eligible participants shal not, by itself, unles the Directors
otherwise determine, be construed as a grant of option under
the Share Option Scheme.
The eligibility of any of the eligible participants to an ofer under
the Share Option Scheme shal be determined by the Directors
from time to time on the basis of the Directors’ opinion as to
such eligible participant’s contribution to the development and
growth of the Group.
(c) Maximum number of Shares
(i) The maximum number of Shares which may be isued
upon exercise of al outstanding options granted and yet to
be exercised under the Share Option Scheme and any other
share option scheme adopted by the Company shal not
exced 30% of the share capital of the Company in isue
from time to time.
(i) The total number of Shares which may be aloted and
isued upon exercise of al options (excluding, for this
purpose, options which have lapsed in acordance with
the terms of the Share Option Scheme and any other share
option scheme of the Company) to be granted under the
Share Option Scheme and any other share option scheme
of the Company shal not in agregate exced 10% of
the total number of Shares (asuming the Over-alotment
Option and the options granted under the Share Option
Scheme are not exercised) in isue at the time dealings in
the Shares first comence on the Stock Exchange, being
100,000,000 Shares (the “General Scheme Limit”).
(vi) 曾经或可能以合营企业、商业联盟或
其他业务安排的方式对本集团的发展
及增长作出贡献的任何其他组别或类
别的参与者；
以及就购股权计划而言，可向一名或多名
合资格参与者全资拥有的任何公司就授出
购股权提出要约。
为免生疑问，本公司向属于以上合资格参
与者类别的任何人士授出任何认购本集团
股份或其他证券的购股权，其本身不得被
诠释为根据购股权计划授出购股权，惟董
事另行决定者则另作别论。
任何合资格参与者是否具备根据购股权计
划获提出要约的资格，须由董事不时按其
对有关合资格参与者向本集团发展及增长
所作的贡献的意见而决定。
(c) 股份数目上限
(i) 因根据购股权计划及本公司采纳的任
何其他购股权计划已授出但尚未行使
的全部尚未行使购股权获行使而可能
发行的最高股份数目，不得超过本公
司不时已发行股本的30%。
(i) 因根据购股权计划及本公司的任何其
他购股权计划将予授出的全部购股权
（就此而言，不包括根据购股权计划及
本公司任何其他购股权计划的条款而
失效的购股权）获行使而可能配发及发
行的股份总数，合共不得超过股份首
次在联交所开始买卖之时已发行股份
总数（假设超额配股权及根据购股权
计划授出的购股权未获行使）的10%
（即100,000,000股份）（「一般计划限
额」）。
492024/25 年期 • GC CONSTRUCTION HOLDINGS LIMITED
REPORT OF THE DIRECTORS
董事会报告
(i) Subject to sub-paragraph (i) above and without prejudice
to sub-paragraph (iv) below, the Company may sek
aproval of the Shareholders in a general meting of the
Company to refresh the General Scheme Limit provided
that the total number of Shares which may be aloted and
isued upon exercise of al options to be granted under the
Share Option Scheme and any other share option scheme
of the Company shal not exced 10% of the Shares in
isue (asuming the Over-alotment Option and the options
granted under the Share Option Scheme are not exercised)
as at the date of the aproval of the limit and for the
purpose of calculating the limit, options (including options
outstanding, canceled, lapsed or exercised in acordance
with the Share Option Scheme and any other share option
scheme of the Group) previously granted under the Share
Option Scheme and any other share option scheme of the
Company wil not be counted.
(iv) Subject to sub-paragraph (i) above and without prejudice
to sub-paragraph (i) above, the Company may sek
separate Shareholders’ aproval in a general meting to
grant options under the Share Option Scheme beyond
the General Scheme Limit or, if aplicable, the extended
limit refered to in sub-paragraph (i) above to eligible
participants identified by the Company before such
aproval is sought.
(d) Maximum entitlement of each eligible participant
Subject to paragraph (e) below, the total number of Shares
isued and which may fal to be isued upon exercise of any
option which may be granted under the Share Option Scheme
and any other share option scheme of the Company (including
both exercised or outstanding options) to each grante in any
12-month period shal not exced 1% of the isued share capital
of the Company for the time being. Where any further grant
of options to a grante under the Share Option Scheme would
result in the Shares isued and to be isued upon exercise of al
options granted and proposed to be granted to such person
(including exercised, canceled and outstanding options) under
the Share Option Scheme and any other share option schemes
of the Company in the 12-month period up to and including
the date of such further grant representing in agregate over
1% of our Shares in isue, such further grant must be separately
aproved by the Shareholders in a general meting of the
Company with such grante and his close asociates (or his
asociates if the participant is a conected person) abstaining
from voting.
(i) 在上文第(i)分段规限但在不影响下文
第(iv)分段的情况下，本公司可寻求股
东于本公司股东大会上批准更新一般
计划限额，惟因根据购股权计划及本
公司任何其他购股权计划将予授出的
全部购股权获行使而可能配发及发行
的股份总数，不得超过于批准限额当
日已发行股份（假设超额配股权及根
据购股权计划授出的购股权未获行使）
的10%，且就计算限额而言，将不会
计入根据购股权计划及本公司任何其
他购股权计划早前已授出的购股权（包
括根据购股权计划及本集团任何其他
购股权计划而尚未行使、已注销、已
失效或已行使的购股权）。
(iv) 在上文第(i)分段的规限但在不影响上
文第(i)分段的情况下，本公司可寻求
股东于股东大会上另行批准，根据购
股权计划向本公司于寻求有关批准前
已确定的合资格参与者授出超逾一般
计划限额或（如适用）上文第(i)分段所
述经扩大限额的购股权。
(d) 各合资格参与者的最高限额
在下文第(e)段的规限下，于任何12个月期
间，因根据购股权计划及本公司任何其他
购股权计划可能授出的任何购股权（包括已
行使或未行使购股权）获行使而向每名承授
人已发行及可发行的股份总数，不得超逾
本公司当时已发行股本的1%。凡进一步向
购股权计划项下承授人授出购股权会导致
于直至进一步授出有关购股权当日（包括该
日）为止12个月期间，因行使根据购股权计
划及本公司任何其他购股权计划已授出及
建议向该人士授出的所有购股权（包括已行
使、已注销及未行使购股权）而已发行及将
发行的股份，合共超过已发行股份的1%，
则进一步授出购股权必须经股东于本公司
股东大会上另行批准，而该承授人及其紧
密联系人（或倘该参与者为关连人士，则其
联系人）须放弃投票。
50GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
REPORT OF THE DIRECTORS
董事会报告
(e) Option period
The period during which a share option may be exercised wil be
determined by the Board at its absolute discretion, save that no
share option may be exercised more than 10 years after it has
ben granted under the Share Option Scheme.
(f) Vesting period
Unles otherwise determined by the Directors and stated in the
ofer to a grante, a grante is not required to hold an option
for any minimum period nor achieve any performance targets
before the exercise of an option granted to him.
(g) Grant of options to core conected persons
(i) Without prejudice to sub-paragraph (i) below, the making
of an ofer under the Share Option Scheme to any Director,
chief executive of the Company or Substantial Shareholder
or any of their respective asociates must be aproved by
the independent non-executive Directors (excluding any
independent non-executive Director who is the grante of
an option under the Share Option Scheme).
(i) Without prejudice to sub-paragraph (i) above, where any
grant of options under the Share Option Scheme to a
Substantial Shareholder or an independent non-executive
Director or any of their respective asociates, would result
in the Shares isued and to be isued upon exercise of al
options under the Share Option Scheme already granted
and to be granted (including options exercised, canceled
and outstanding) to such person in the 12-month period
up to and including the date of such grant:
- % of the Shares in
isue; and
- , based on the closing
price of the Shares on the ofer date of each grant, in
exces of HK$5 milion;
such further grant of options must be aproved by the
Shareholders in a general meting. The grante, his
asociates and al core conected persons of the Company
must abstain from voting in favour at such general
meting.
(e) 购股权期间
可行使购股权的期间将由董事会全权决
定，惟根据购股权计划授出后购股权行使
期间不得超过10年。
(f) 归属期
除非董事另行决定及载于向承授人提出的
要约外，否则承授人没有持有购股权的最
短期限，亦毋须于行使获授购股权前达致
任何业绩目标。
(g) 向核心关连人士授出购股权
(i) 在不影响下文第(i)分段的情况下，根
据购股权计划向任何董事、本公司主
要行政人员或主要股东或彼等各自的
任何联系人提出要约须经独立非执行
董事（不包括任何为购股权计划项下购
股权承授人的独立非执行董事）批准。
(i) 在不影响上文第(i)分段的情况下，凡
根据购股权计划向主要股东或独立非
执行董事或彼等各自的任何联系人授
出购股权，会导致于直至该授出日期
（包括该日）为止12个月期间，因根据
购股权计划向该人士已授出及将授出
的所有购股权（包括已行使、已注销及
未行使购股权）获行使而已发行及将
发行的股份：
- %；及
(2) 根据股份于每项授出的要约日期
的收市价计算，总值超过5百万
港元；
则进一步授出购股权必须经股东在股
东大会上批准。该承授人、其联系人
及本公司所有核心关连人士须于有关
股东大会上放弃投票。
512024/25 年期 • GC CONSTRUCTION HOLDINGS LIMITED
REPORT OF THE DIRECTORS
董事会报告
For the purpose of seking the aproval from the Shareholders
under paragraphs (c), (d) and (e) above, our Company must
send a circular to the Shareholders containing the information
required under the Listing Rules and where the Listing Rules shal
so require, the vote at the Shareholders’ meting convened to
obtain the requisite aproval shal be taken on a pol with those
persons required under the Listing Rules abstaining from voting.
(h) Payment on aceptance of the option
Participants of the Share Option Scheme are required to submit
to the Company a duly signed ofer leter within 7 days from the
ofer date together with a payment in favour of the Company of
HK$1.00 per option as the consideration of the grant.
(i) Basis of determining the exercise price
The subscription price of a Share in respect of any particular
option granted under the Share Option Scheme shal be such
price as determined by the Board, and shal be at least the
highest of:
(a) the closing price of the Shares as stated in the Stock
Exchange’s daily quotations shet on the date (the “Ofer
Date”), which must be a busines day, on which the Board
pases a resolution aproving the making of an ofer of
grant of an option to a Participant;
(b) the average of the closing prices of the Shares as stated
in the Stock Exchange’s daily quotation shets for the five
busines days imediately preceding the Ofer Date; and
(c) the nominal value of a Share on the Ofer Date.
(j) Remaining life
Subject to any prior termination by the Company in a general
meting or by the Board, the Share Option Scheme shal be
valid and efective for a period of ten years comencing on
the date of adoption of the Share Option Scheme, after which
period no further options shal be granted. Al options granted
and acepted and remaining unexercised imediately prior
to the expiry of the Share Option Scheme shal continue to
be valid and exercisable in acordance with the terms of the
Share Option Scheme. Since the adoption of the Share Option
Scheme, no option has ben granted under the Share Option
Scheme. Therefore, no option was exercised or canceled or has
lapsed during the year ended 31 March 2025 and there was no
outstanding option as at 31 March 2025.
就寻求上文第(c)、第(d)及第(e)段项下股东
批准而言，本公司必须向股东寄发一份载
有上市规则规定的资料的通函，而凡上市
规则有所规定，则为取得必要的批准而召
开的股东大会上的投票，须以投票表决方
式进行，且上市规则规定的该等人士须放
弃投票。
(h) 接纳购股权须付款项
购股权计划的参与者须于要约日期起计7日
内向本公司递交正式签署的要约函件，并
向本公司支付每份购股权1.00港元之款项
作为授出购股权的代价。
(i) 厘定行使价的基准
根据购股权计划所授出的任何特定购股权
所涉及的股份认购价应由董事会厘定，并
至少须为下列三者中的最高者：
(a) 股份于董事会通过决议案批准向参与
者作出授予购股权要约的日期（「要约
日期」，须为营业日）在联交所每日报
价表所列的收市价；
(b) 股份于紧接要约日期前五个营业日在
联交所每日报价表所列的平均收市
价；及
(c) 股份于要约日期的面值。
(j) 剩余年期
除本公司于股东大会或由董事会提早终
止外，购股权计划将于采纳购股权计划日
期起计十年内有效及生效，其后不会进一
步授出购股权。根据购股权计划的条款，
紧接购股权计划到期前已授出及接纳及余
下尚未行使的所有购股权将继续有效并可
予行使。自采纳购股权计划以来，尚未根
据购股权计划授出购股权。因此，于截至
2025年3月31日止年度概无购股权获行使
或注销或失效，及于2025年3月31日并无尚
未行使的购股权。
52GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
REPORT OF THE DIRECTORS
董事会报告
RETIREMENT SCHEME
The Group joins mandatory provident fund retirement benefit
scheme (the “MPF Scheme”) under the Mandatory Provident Fund
Schemes Ordinance (Cap. 485 of the Laws of Hong Kong) for those
employes who are eligible to participate in the MPF Scheme in
Hong Kong. Contributions are made based on a percentage of the
employes’ basic salaries and are charged to the statement of profit
or los as they become payable in acordance with the rules of the
MPF Scheme. The asets of the MPF Scheme are held separately
from those of the Group in an independently administered fund. The
Group’s employer contributions vest fuly with the employes when
contributed into the MPF Scheme.
No forfeited contributions (by the Group on behalf of employes
who leave the defined contribution plans prior to vesting fuly in such
contributions) can be used by the Group to reduce the existing level
of contributions.
The retirement benefit scheme contributions made by the Group
amounted to aproximately HK$0.9 milion (2024: aproximately
HK$1.2 milion) during the year ended 31 March 2025. Save as the
aforesaid, the Group did not participate in any other pension schemes
during the year ended 31 March 2025.
EMOLUMENTS OF THE DIRECTORS AND THE
FIVE HIGHEST PAID INDIVIDUALS
Details of the emoluments of the Directors and the five highest paid
individuals of the Group during the years ended 31 March 2025 and
31 March 2024 are set out in Note 9 to the consolidated financial
statements.
退休计划
本集团根据香港法例第485章《强制性公积金计
划条例》为合资格参与香港强制性公积金退休
福利计划（「强积金计划」）的雇员参与强积金计
划。供款乃按雇员基本薪金的百分比计算，并根
据强积金计划的规则于应付时自损益表扣除。
强积金计划的资产由独立管理之基金持有，与
本集团之资产分开管理。本集团的雇主供款将
于向强积金计划作出供款时全数归属雇员。
本集团不能动用已没收供款（即本集团代表于该
等供款全数归属前退出定额供款计划之雇员作
出的供款）以减少现有供款水平。
本集团于截至2025年3月31日止年度作出的退休
福利计划供款约为0.9百万港元（2024年：约1.2
百万港元）。除上文所述者外，于截至2025年3
月31日止年度，本集团并无参与任何其他退休
金计划。
董事及五名最高薪酬人士的薪酬
董事及本集团五名最高薪酬人士于截至2025年
3月31日及2024年3月31日止年度的薪酬详情载
于综合财务报表附注9。
532024/25 年期 • GC CONSTRUCTION HOLDINGS LIMITED
REPORT OF THE DIRECTORS
董事会报告
AUDITOR
PricewaterhouseCoper resigned as auditor of the Company and
OP CPA & Co. has ben apointed as the auditor of the Company
on 10 February 2025. There have ben no other changes in auditor
during the preceding thre years.
EVENTS AFTER THE REPORTING PERIOD
There have ben no material events from the end of the reporting
period to the date of this anual report.
PURCHASE, SALE OR REDEMPTION OF THE
COMPANY’S LISTED SECURITIES
No purchase, sale or redemption of the Company’s listed securities
was made by the Company or any of its subsidiaries during the year
ended 31 March 2025.
DIRECTORS’ INTERESTS IN TRANSACTIONS,
ARANGEMENTS OR CONTRACTS OF
SIGNIFICANCE
No transactions, arangements or contracts of significance in relation
to the Company’s busines to which the Company or any of its
subsidiaries was a party and in which a Director or a conected entity
of a Director had a material interest, whether directly or indirectly,
subsisted at 31 March 2025 or at any time during the year ended 31
March 2025.
核数师
罗兵咸永道会计师事务所已辞任本公司核数师，
而奥柏国际会计师事务所已于2025年2月10日获
委任为本公司核数师。在此之前的三年内并无
其他核数师变动。
报告期后事项
自报告期末起至本年报日期内，概无发生任何
重大事项。
购买、出售或赎回本公司上市证券
于截至2025年3月31日止年度，本公司或其任何
附属公司概无购买、出售或赎回本公司任何上
市证券。
董事于重大交易、安排或合约的权
益
于2025年3月31日或截至2025年3月31日止年度
任何时间，概无存续与本公司业务有关且本公
司或其任何附属公司作为订约方及董事或董事
的关连实体直接或间接拥有重大权益的重大交
易、安排或合约。
54GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
REPORT OF THE DIRECTORS
董事会报告
DIRECTORS’ AND CHIEF EXECUTIVE’S
INTERESTS AND SHORT POSITIONS IN
THE SHARES, UNDERLYING SHARES AND
DEBENTURES OF THE COMPANY AND ITS
ASOCIATED CORPORATIONS
As at 31 March 2025, the interests and short positions of the
Directors and chief executive of the Company in the shares,
underlying shares and debentures of the Company or its asociated
corporations (within the meaning of Part XV of the SFO) which
were notified to the Company and the Stock Exchange pursuant
to Divisions 7 and 8 of Part XV of the SFO (including interests and
short positions which they are taken or demed to have under such
provisions of the SFO) or which were required, pursuant to Section
352 of the SFO, to be entered in the register refered to therein or
which were required to be notified to the Company and the Stock
Exchange pursuant to the Model Code were as folows:
(a) Long positions in the Shares
Name of DirectorCapacity/Nature of interest
Number of Shares
interested
Percentage of
interest
董事姓名身份╱权益性质
拥有权益的
股份数目权益的百分比
Mr. Chan Kiu Sum (Note 1)Interest in controled corporation/
interest held jointly with others
728,880,00072.9%
陈桥森先生（附注1）受控制法团权益╱与其他人士共同
持有的权益
Mr. Chan Wing Ping (Note 1)Interest in controled corporation/
interest held jointly with others
728,880,00072.9%
陈永平先生（附注1）受控制法团权益╱与其他人士共同
持有的权益
Dr. Luk Che Chung, JP (Note 2)Independent non-executive Director670,0000.067%
陆志聪医生，太平绅士（附注2）独立非执行董事
董事及最高行政人员于本公司
及其相联法团的股份、相关股份
及债权证中拥有的权益及淡仓
于2025年3月31日，董事及本公司最高行政人员
于本公司或其相联法团（定义见证券及期货条例
第XV部）的股份、相关股份及债权证中拥有根据
证券及期货条例第XV部第7及第8分部要求已知
会本公司及联交所的权益及淡仓（包括根据证券
及期货条例有关条文被当作或视作拥有的权益
及淡仓），或根据证券及期货条例第352条须登
记于该条所指的登记册内的权益及淡仓，或根
据标准守则须知会本公司及联交所的权益及淡
仓如下：
(a) 于股份的好仓
552024/25 年期 • GC CONSTRUCTION HOLDINGS LIMITED
REPORT OF THE DIRECTORS
董事会报告
Notes:
1. Evolve Bilion Limited is beneficialy owned as to 80% by Mr. Chan
Kiu Sum and 20% by Mr. Chan Wing Ping. On 5 November 2020,
Mr. Chan Kiu Sum and Mr. Chan Wing Ping entered into an acting
in concert confirmation to acknowledge and confirm, among
other things, that they are parties acting in concert within the
meaning of the Code on Takeovers and Mergers. By virtue of the
SFO, Mr. Chan Kiu Sum and Mr. Chan Wing Ping are demed to
be interested in the Shares held by Evolve Bilion Limited.
2. As at 31 March 2025, Dr. Luk Che Chung, JP was interested in
670,000 shares of the Company, representing aproximately
0.067% of the total isued shares of the Company, which was les
than 1% of the total isued shares of the Company as refered to
in Rule 3.13 of the Listing Rules.
(b) Long position in the shares of asociated
corporations
Name of Director
Name of asociated
corporation
Capacity/Nature of
interest
Number of
Shares held
interested
Percentage of
interest
董事姓名相联法团名称身份╱权益性质
拥有权益的
所持股份数目权益的百分比
Mr. Chan Kiu SumEvolve Bilion LimitedBeneficial owner80 80%
陈桥森先生进亿有限公司实益拥有人
Mr. Chan Wing PingEvolve Bilion LimitedBeneficial owner2020%
陈永平先生进亿有限公司实益拥有人
Save as disclosed above, as at 31 March 2025, none of the
Directors or chief executive of the Company had any interests or
short positions in any shares, underlying shares or debentures
of the Company or any of its asociated corporations (within
the meaning of Part XV of the SFO) which were notified to the
Company and the Stock Exchange pursuant to Divisions 7 and
8 of Part XV of the SFO (including interests or short positions
which they are taken or demed to have under such provisions
of the SFO), or which were required, pursuant to Section 352 of
the SFO, to be entered in register refered to therein, or which
were required to be notified to the Company and the Stock
Exchange pursuant to the Model Code of the Listing Rules.
附注：
1. 进亿有限公司分别由陈桥森先生及陈永平先生
实益拥有80%及20%。于2020年11月5日，陈桥
森先生及陈永平先生订立一致行动确认书，以
承认及确认（其中包括）彼等为一致行动人士（定
义见公司收购及合并守则）。根据证券及期货条
例，陈桥森先生及陈永平先生被视为于进亿有
限公司持有之股份中拥有权益。
- ，陆志聪医生，太平绅士于本公
司670,000股份中拥有权益，占本公司全部已
发行股本约0.067%，低于上市规则第3.13条所
指本公司全部已发行股本的1%。
(b) 于相联法团股份的好仓
除上文所披露者外，于2025年3月31日，概
无董事或本公司最高行政人员于本公司或
其任何相联法团（定义见证券及期货条例
第XV部）的任何股份、相关股份或债权证
中拥有任何根据证券及期货条例第XV部第
7及第8分部要求已知会本公司及联交所的
权益或淡仓（包括根据证券及期货条例有关
条文被当作或视作拥有的权益或淡仓），或
根据证券及期货条例第352条须登记于该条
所指的登记册内的权益或淡仓，或根据上
市规则的标准守则须知会本公司及联交所
的权益或淡仓。
56GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
REPORT OF THE DIRECTORS
董事会报告
SUBSTANTIAL SHAREHOLDERS’ INTERESTS
AND SHORT POSITIONS IN THE SHARES,
UNDERLYING SHARES AND DEBENTURES OF
THE COMPANY
As at 31 March 2025, the folowing persons had interests or short
positions in the shares and underlying shares of the Company which
were notified to the Company and the Stock Exchange pursuant to
Divisions 2 and 3 of Part XV of the SFO and entered in the register
maintained by the Company pursuant to Section 336 of the SFO were
as folows:
Long positions in the Shares
Name of ShareholderCapacity/Nature of interest
Number of Shares
held interested
Percentage of
interest
股东名称╱姓名身份╱权益性质
拥有权益的所持股
份数目权益的百分比
Evolve Bilion LimitedBeneficial owner728,880,00072.9%
进亿有限公司实益拥有人
Mr. Chan Kiu SumInterest in controled corporation/
interest held jointly with others
728,880,00072.9%
陈桥森先生受控制法团权益╱与其他人士共同
持有的权益
Ms. Tsang Chiu Ching (Note 1)Interest of spouse of Mr. Chan Kiu
Sum
728,880,00072.9%
曾肖贞女士（附注1）陈桥森先生配偶之权益
Mr. Chan Wing PingInterest in controled corporation/
interest held jointly with others
728,880,00072.9%
陈永平先生受控制法团权益╱与其他人士共同
持有的权益
Ms. Chan Pong Hing (Note 2)Interest of spouse of Mr. Chan Wing
Ping
728,880,00072.9%
陈傍兴女士（附注2）陈永平先生配偶之权益
Notes:
1. Ms. Tsang Chiu Ching is the spouse of Mr. Chan Kiu Sum. Under the
SFO, Ms. Tsang Chiu Ching is demed to be interested in the same
number of Shares in which Mr. Chan Kiu Sum is interested.
2. Ms. Chan Pong Hing is the spouse of Mr. Chan Wing Ping. Under
the SFO, Ms. Chan Pong Hing is demed to be interested in the same
number of Shares in which Mr. Chan Wing Ping is interested.
主要股东于本公司股份、相关
股份及债权证的权益及淡仓
于2025年3月31日，下列人士于本公司股份及相
关股份中拥有已根据证券及期货条例第XV部第
2及第3分部知会本公司及联交所并登记于本公
司根据证券及期货条例第336条存置之登记册之
权益或淡仓如下：
于股份之好仓
附注：
- 。根据证券及
期货条例，曾肖贞女士被视为于陈桥森先生拥
有权益的相同数目股份中拥有权益。
- 。根据证券及
期货条例，陈傍兴女士被视为于陈永平先生拥
有权益的相同数目股份中拥有权益。
572024/25 年期 • GC CONSTRUCTION HOLDINGS LIMITED
REPORT OF THE DIRECTORS
董事会报告
Save as disclosed above, as at 31 March 2025, the Company had not
ben notified by any persons who had interests or short positions
in the shares or underlying shares of the Company which would fal
to be disclosed to the Company under the provisions of Divisions 2
and 3 of Part XV of the SFO, or which were recorded in the register
maintained by the Company pursuant to Section 336 of the SFO.
MANAGEMENT CONTRACT
No contract, other than a contract of service with any Director or any
person in the ful-time employment of the Company, 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 ended 31 March 2025.
DIRECTORS’ RIGHTS TO ACQUIRE SHARES OR
DEBENTURES
At no time during the year ended 31 March 2025 was the Company
or any of its subsidiaries a party to any arangement to enable the
Directors of the Company to acquire benefits by means of the
acquisition of shares in or debentures of the Company or any body
corporate.
COMPETING INTERESTS
Mr. Chan Kiu Sum, Mr. Chan Wing Ping and Evolve Bilion Limited
(colectively, the “Controling Shareholders”) had entered into
the ded of non-competition in favour of the Company on 18
September 2022 (the “Non-competition Undertaking”). Each of
the Controling Shareholders has confirmed that he/it had complied
with the Non-competition Undertaking during the year ended 31
March 2025. The independent non-executive Directors have reviewed
that state of compliance of each of the Controling Shareholders with
the Non-competition Undertaking and as far as the independent
non-executive Directors can ascertain, there has ben no breach of
the undertakings given in the Non-competition Undertaking by the
Controling Shareholders during the year ended 31 March 2025.
The Directors further confirmed that none of the Directors and
their respective close asociates (as defined in the Listing Rules) is
interested in any busines apart from the busines operated by the
Group which competes or is likely to compete, directly or indirectly,
with the Group’s busines the year ended 31 March 2025.
除上文所披露者外，于2025年3月31日，概无任
何人士曾知会本公司于本公司股份或相关股份
中拥有根据证券及期货条例第XV部第2及第3分
部条文须向本公司披露或已列入本公司根据证
券及期货条例第336条存置之登记册之权益或淡
仓。
管理合约
截至2025年3月31日止年度，除与任何董事或本
公司全职聘用的任何人士订立服务合约外，概
无订立或存续有关本公司全部或任何重大部分
业务的管理及行政的合约。
董事收购股份或债权证的权利
于截至2025年3月31日止年度内任何时间，本公
司或其任何附属公司概无订立任何安排，致使
本公司董事可藉收购本公司或任何法人团体的
股份或债券而获益。
竞争权益
陈桥森先生、陈永平先生及进亿有限公司（统称
「控股东」）已于2022年9月18日以本公司为受
益人订立不竞争契据（「不竞争承诺」）。控股
东各自已确认，于截至2025年3月31日止年度，
其已遵守不竞争承诺。独立非执行董事已审阅
各控股东遵守不竞争承诺的情况，且就独立
非执行董事所确定，于截至2025年3月31日止年
度，控股东并无违反不竞争承诺中作出的承
诺。
董事进一步确认，于截至2025年3月31日止年
度，董事及其各自的紧密联系人（定义见上市规
则）概无于除本集团营运的业务以外且与本集团
业务构成竞争或可能构成竞争的任何业务中拥
有直接或间接权益。
58GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
REPORT OF THE DIRECTORS
董事会报告
CONTROLING SHAREHOLDERS’ INTEREST IN
CONTRACTS OF SIGNIFICANCE
Save as otherwise disclosed, there was no transaction, arangement
or contract of significance conected to the busines of the Group
to which the Company, its subsidiaries, or its holding company or
any of its felow subsidiaries was a party and in which any Director
or a conected entity of a Director had a direct or indirect material
interest, subsisting at the end of the year or at any time during the
year.
As of 31 March 2025, save as otherwise disclosed, no contract of
significance had ben entered into betwen the Company, or any of
its subsidiaries and the Controling Shareholders of the Company or
any of its subsidiaries.
CONECTED AND RELATED PARTY TRANSACTIONS
To the best knowledge of the Directors, the Group had not entered
into any conected transaction or continuing conected transaction
during the year ended 31 March 2025 which is required to be
disclosed under Chapter 14A of the Listing Rules.
To the best knowledge of the Directors, save as disclosed under Note
26 to the Consolidated Financial Statements, there was no other
related party transaction during the year ended 31 March 2025.
SUFICIENCY OF PUBLIC FLOAT
Based on information that is publicly available to the Company
and within the knowledge of the Directors, at least 25% of the
Company’s total isued share capital was held by the public during
the year ended 31 March 2025.
控股东于重大合约的权益
除另有披露者外，于年末或于年内任何时间，
概无存续由本公司、其附属公司或其控股公司
或其任何同系附属公司所订立且任何董事或董
事之关连实体直接或间接拥有其重大权益的与
本集团业务有关连的重大交易、安排或合约。
截至2025年3月31日，除另有披露者外，本公司
或其任何附属公司与本公司或其任何附属公司
的控股东之间概无订立任何重大合约。
关连及关联方交易
据董事所深知，本集团于截至2025年3月31日止
年度内并未订立上市规则第14A章项下须予披露
的任何关连交易或持续关连交易。
据董事所深知，除综合财务报表附注26所披露
者外，截至2025年3月31日止年度并无其他关联
方交易。
足够公众持股量
根据本公司公开可得的资料及据董事所知悉，
于截至2025年3月31日止年度，本公司已发行股
本总额的最少25%由公众人士持有。
592024/25 年期 • GC CONSTRUCTION HOLDINGS LIMITED
REPORT OF THE DIRECTORS
董事会报告
AUDIT COMITE
The Company established the Audit Comite with writen terms
of reference in compliance with Rule 3.22 of the Listing Rules and
the code provisions D.3.3 and D.3.7 of part 2 of the CG Code. The
primary duties of the Audit Comite are, among others, to make
recomendations to Board on the apointment, reapointment
and removal of external auditor, review the financial statements and
material advice in respect of financial reporting, overse the financial
reporting proces, internal control, risk management systems
and audit proces of the Company and perform other duties and
responsibilities asigned by the Board.
The Audit Comite comprises Mr. Yu Chi Wing, Dr. Huang Hong,
Dr. Lo Ki Chiu and Dr. Luk Che Chung, JP, al being independent
non-executive Directors. Mr. Yu Chi Wing is the chairperson of the
Audit Comite.
The Audit Comite had reviewed the Group’s anual results for the
year ended 31 March 2025 and confirmed that they were prepared
in acordance with aplicable acounting standards and the Listing
Rules and that adequate disclosures have ben made.
PUBLICATION OF ANUAL RESULTS AND
ANUAL REPORT
The anual results anouncement and the anual report are
published on the Company’s website at w.chankiu.hk and the
Stock Exchange’s website at w.hkexnews.hk. The anual report
of the Company for the year ended 31 March 2025 wil be published
on the websites of both the Stock Exchange and the Company in due
course in the maner as required by the Listing Rules.
ANUAL GENERAL METING
The forthcoming Anual General Meting (“2025 AGM”) of the
Company wil be held on 26 August 2025 and the notice and
circular of the 2025 AGM wil be published and despatched to the
Shareholders in the maner as required by the Listing Rules in due
course.
审核委员会
本公司已成立审核委员会，并设有符合上市规
则第3.22条及企业管治守则第二部分之守则条
文D.3.3及D.3.7的书面职权范围。审核委员会之
主要职责为（其中包括）就委任、续聘及罢免外
聘核数师向董事会提供推荐建议、审阅财务报
表及就财务申报提供重要意见、监察本公司财
务申报程序、内部监控、风险管理系统及审核
程序，并履行董事会指派的其他职责。
审核委员会成员为于志荣先生、黄虹博士、卢
其钊博士及陆志聪医生，太平绅士，彼等均为独
立非执行董事。于志荣先生为审核委员会主席。
审核委员会已审阅本集团截至2025年3月31日止
年度的年度业绩，并确认其乃根据适用会计准
则及上市规则编制，并已作出充分披露。
刊发年度业绩及年度报告
年度业绩公告及年度报告于本公司网站
w.chankiu.hk及联交所网站w.hkexnews.hk
刊发。本公司截至2025年3月31日止年度的年度
报告将按照上市规则规定的方式适时于联交所
及本公司网站刊载。
股东周年大会
本公司应届股东周年大会（「2025年股东周年大
会」）将于2025年8月26日举行，2025年股东周
年大会通告及通函将按上市规则规定的方式适
时刊发并寄发予股东。
60GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
REPORT OF THE DIRECTORS
董事会报告
CLOSURE OF REGISTER OF MEMBERS
To ascertain the identity of the Shareholders who wil be entitled to
atend and vote at the 2025 AGM, the register of members of the
Company wil be closed from Thursday, 21 August 2025 to Tuesday,
26 August 2025, both dates inclusive, the period during which no
transfer of Shares wil be efected. In order to be eligible to atend
and vote at the 2025 AGM, al completed share transfer documents
acompanied by the relevant share certificates must be lodged with
the Company’s branch share registrar in Hong Kong, Boardrom
Share Registrars (HK) Limited, at 2103B, 21/F, 148 Electric Road,
North Point, Hong Kong for registration not later than 4:30 p.m. on
Wednesday, 20 August 2025.
APRECIATION
The Board would like to expres its sincere gratitude to the
management of the Group and al the staf for their hard work and
dedication, as wel as its shareholders, busines asociates and other
profesional parties for their suport throughout the period.
On behalf of the Board
Chan Kiu Sum
Chairman and Executive Director
Hong Kong, 25 June 2025
暂停办理股份过户登记手续
为确定有权出席2025年股东周年大会并于会上
投票的股东身份，本公司将于2025年8月21日
（星期四）至2025年8月26日（星期二）（包括首尾
两日）暂停办理股份过户登记手续，期间股份过
户将不会生效。为符合资格出席2025年股东周
年大会并于会上投票，所有填妥的股份过户文
件连同相关股票必须于2025年8月20日（星期三）
下午四时三十分前交回本公司的香港股份过户
登记分处宝德隆证券登记有限公司，地址为香
港北角电气道148号21楼2103B室。
致谢
董事会谨此就期内本集团管理层及全体员工的
不懈努力及竭诚奉献以及股东、业务合作伙伴
及其他专业人士的支持深表谢意。
代表董事会
主席兼执行董事
陈桥森
香港，2025年6月25日
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
612024/25 年报 • GC CONSTRUCTION HOLDINGS LIMITED
OUR MESAGE
GC Construction Holdings Limited is deply devoted to ensuring
that our company operates in a sustainable and responsible maner,
and we place great importance on environmental, social, and
governance (“ESG”) considerations for ensuring our long-term
prosperity. We firmly believe that by integrating ESG factors into
our decision-making proceses, we can generate value for al our
stakeholders, including shareholders, customers, employes, and the
comunities in which we operate.
In recognition of climate change as one of the most presing
chalenges facing our planet today, we have set high targets, both
short-term and long-term, to reduce our grenhouse gas (“GHG”)
emisions and are actively working towards transitioning to a
low-carbon economy. We vow to seize every oportunity to reduce
emisions acros our entire value chain, as we remain comited to
adresing this isue.
Our comitment to ESG isues stems from our recognition of our
responsibilities to evaluate and determine ESG-related risks for the
Group, as wel as to ensure the establishment of efective ESG risk
management and internal control systems. We acknowledge the
importance of diversity, equity, and inclusion in our workplace and
in society, and are comited to fostering an inclusive and respectful
culture that values the unique perspectives and contributions of al.
We regard ethical busines practices as esential to our long-term
suces and uphold the highest standards of integrity and
acountability in al our operations. We operate in compliance
with al aplicable laws and regulations and have established a
comprehensive set of code of conduct that promotes transparency
and acountability in al our busines practices.
While we take pride in the progres we have made, we recognise
that there is stil much work to be done. We remain comited to
continuous improvement and to ensuring that our ESG performance
mets the highest standards, so that the Group may continue to lead
the industry as a responsible corporate citizen. We wil continue to
colaborate with our stakeholders on ESG isues and to work together
to create a more sustainable and responsible future for al.
前言
GC Construction Holdings Limited深切致力于确
保本公司能够以可持续及负责任的方式营运。
为确保公司长期繁荣稳定，我们十分重视环境、
社会及管治（「环境、社会及管治」）方面的考虑
因素。我们深信，透过将环境、社会及管治因
素纳入决策过程，我们可以为所有持份者（包括
股东、客户、雇员以及我们经营所在的社会）创
造价值。
我们明白气候变化是当今地球面临的最迫切挑
战之一，因此，我们设定了高水平的短期及长期
目标，务求减低温室气体（「温室气体」）排放，
努力推动低碳转型。我们决心解决气候变化问
题，谨此承诺，我们会捕捉每一个机会去减少
本公司整个价值链的排放量。
我们之所以有应对环境、社会及管治议题的决
心，是因为本公司充分意识到我们有责任评估
及厘定与本集团环境、社会及管治相关的风险，
以及确保我们能够建立有效的环境、社会及管
治风险管理及内部控制系统。我们认为建立公
平公正、多元共融的工作场所和社会环境十分
重要，因此致力培养包容及尊重的文化，重视
所有人的独特观点及贡献。
我们认为道德的商业行为对我们的长远成功至
关重要，故在所有业务营运中秉承最高标准的
诚信和问责制。我们营运业务时会遵守所有适
用的法律法规，并已制订一套全面的行为守则，
确保所有业务流程公开透明，经受问责。
虽然我们对迄今为止取得的进展感到自豪，但
我们亦明白，本公司还有很大进步空间。因此，
我们仍然致力寻求持续改进，确保我们的环境、
社会及管治表现达到最高水平，使本集团成为
负责任的企业公民，引领行业发展。我们将继
续与持份者合作处理环境、社会及管治议题，
为全人类一起创建一个更加可持续发展及负责
任的未来。
62GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
ABOUT THIS REPORT
GC Construction Holdings Limited (the “Company” together with
its subsidiaries, hereinafter refered to as the “Group”, “we” or
“us”) are delighted to share our third Environmental, Social and
Governance Report (the “Report”) that outlines our achievements
and advancements in significant ESG aspects. In compliance with the
Environmental, Social and Governance Reporting Code (the “ESG
Code”) as set out in Apendix C2 of the Rules Governing the Listing
of Securities on the Stock Exchange of Hong Kong Limited (the
“Stock Exchange”) (the “Listing Rules”), this report encompases
a broad spectrum of topics, such as our initiatives towards mitigating
carbon emisions, our pledge towards fostering diversity and
inclusivity, and our strategy for maintaining ethical busines practices.
Reporting Period
This report outlines the ESG performance and aproach of GC
Construction Holdings Limited during the period spaning from
1 April 2024 to 31 March 2025 (the “Reporting Period” or
“2024/2025”).
Reporting Scope and Boundary
The Report reveals the relevant policies and eforts concerning the
Group’s core and significant operations, which are wet trades works
including plastering, tile laying, brick laying, flor screding and
marble works in both public sector projects and private sector projects
in Hong Kong.
The Report presents the environmental and social key performance
indicators (“KPIs”) for the Group. The Group strives to enhance
its internal data colection proces to continuously provide a
comprehensive overview of our performance. Unles explicitly stated,
the environmental, social, and governance data in this report pertains
to GC Construction Holdings Limited and its primary subsidiaries.
关于本报告
GC Construction Holdings Limited（「本公司」，连
同其附属公司此后统称「本集团」或「我们」）欣然
分享我们第三份环境、社会及管治报告（「本报
告」）。本报告概述了我们在重大的环境、社会
及管治层面的成就及进展，并遵从香港联合交
易所有限公司（「联交所」）证券上市规则（「上市
规则」）附录C2所载环境、社会及管治报告守则
（「环境、社会及管治守则」）的规定，涵盖内容
广泛的议题，例如是我们减少碳排放的举措、
促进多元共融的承诺，以及维护道德商业行为
的策略。
报告期
本报告概述GC Construction Holdings Limited于
2024年4月1日至2025年3月31日期间（「报告期」
或「2024/2025年」）的环境、社会及管治表现及
方针。
报告范围及界限
本报告展示了有关于本集团核心及主要业务营
运（即在香港公营界别项目及私营界别项目进行
的泥水工程，包括批荡、瓷砖铺设、砌砖、铺设
地台及云石工程）的政策及努力。
本报告呈列本集团的环境及社会关键绩效指标
（「关键绩效指标」）。本集团正在努力加强其内
部数据收集程序，以持续及全面地综述我们的
表现。除非另有说明，否则本报告所载环境、
社会及管治数据均与GC Construction Holdings
Limited及其主要附属公司有关。
632024/25 年报 • GC CONSTRUCTION HOLDINGS LIMITED
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
Reporting Basis and Principles
The Report is constructed based on the guidelines outlined in the
ESG Code as wel as the four reporting principles – materiality,
quantitative, balance and consistency:
Materiality: The Group identifies significant ESG maters through
stakeholder engagement and materiality asesments.
Quantitative: The Group discloses information on the standards,
methodologies, asumptions, and calculation tols utilised, as wel as
the source of conversion factors employed for reporting emisions/
energy consumption (where relevant).
Balance: The Report identifies both achievements and chalenges
faced by the Group.
Consistency: The Report uses consistent methodologies for
meaningful comparisons unles improvements in methodology are
identified.
The Report has fulfiled al “comply or explain” requirements and
mandatory disclosures outlined in the ESG Code.
The contents of this report are derived from internal documents and
statistics of the Group, as wel as the management and operational
information provided by its subsidiaries, in acordance with the
Group’s internal management systems. A comprehensive index of the
report’s contents is included in the final section for easy reference.
The report is available in both Chinese and English on the Stock
Exchange’s website (w.hkexnews.hk) and the Company’s website
(w.chankiu.hk). If there is any conflict or inconsistency betwen
the Chinese and English versions, the English version wil take
precedence.
Review and Aproval
The Board acepts its obligation to ensure the ESG Report’s precision
and thoroughnes, and to the best of their understanding, the ESG
Report has tackled al significant material concerns and has presented
a just portrayal of the Group’s ESG performance for 2024/2025. The
Report underwent examination and endorsement by the board of
directors (the “Board”) on 17 July 2025.
Fedback
If you have any fedback or recomendations regarding the ESG
Report, please do not hesitate to contact the Group at info@chankiu.hk.
报告基准及原则
本报告乃根据环境、社会及管治守则概述的指
引以及四大报告原则 —「重要性」、「量化」、「平
衡」及「一致性」编制：
重要性：本集团透过持份者参与及重要性评估
识别重大的环境、社会及管治事宜。
量化：本集团披露与准则、方法、假设及所使
用的计算工具有关的资料，以及报告排放量╱
能源耗用量时所用转换系数的资料（如相关）。
平衡：本报告识别了本集团面临的成就和挑战。
一致性：除非发现方法有所改进，否则本报告
将使用一致性方法进行有意义的比较。
本报告已遵守环境、社会及管治守则概述的所
有「不遵守就解释」规定及强制披露要求。
本报告的内容摘录自本集团根据其内部管理系
统编制的内部文件及统计资料，以及其附属公司
提供的管理及营运资料。本报告最后一个章节
载列了与报告内容有关的综合索引，方便读者
参考。本报告的中英文版本在联交所网站(w.
hkexnews.hk)及本公司网站(w.chankiu.hk)可
供查阅。如中英文版本之间有任何歧义或不一
致之处，概以英文版本为准。
审批
董事会同意其有责任确保环境、社会及管治报告
的精确性及全面性，且就彼等所深知，环境、社
会及管治报告已应对所有重大的主要关切点，
并公正地描述了本集团于2024/2025年的环境、
社会及管治表现。本报告于2025年7月17日获董
事会（「董事会」）审批。
反馈意见
倘 阁下对本环境、社会管治报告有任何反馈意
见或推荐建议，请随时电邮至info@chankiu.hk，
与本集团联络。
64GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
COMPANY PROFILE
Established in 2005, GC Construction Holdings Limited has ben
providing exceptional wet trades works as a subcontractor, through
our two principal operating subsidiaries, Chan Kiu Construction
Decoration Enginering Limited and Ying Wai (Chan Kiu)
Construction Enginering Company Limited. The wet trades works
undertaken by us typicaly involve various trades of works, details of
which are set out as folows:
– Plastering works which generaly refer to aplying plaster evenly
on the surfaces of flors, wals and ceilings manualy or with the
use of our plaster spray machine.
– Tile laying works which generaly refer to cuting and laying tiles
on the surface of flors and wals.
– Brick laying works which generaly refer to laying brick blocks in
uniform layers.
– Flor screding works which generaly refer to aplying a
wel-blended mixture of cement with graded agregates and
water to a flor base.
– Marble works which generaly refer to cuting and laying marble
tiles on the surfaces of flors, window sils and wals.
Our unwavering comitment to excelence in execution has earned
us a high ranking in the Hong Kong wet trades works subcontracting
market. Our primary engagements were in the private sector,
encompasing private residential and comercial developments, with
property developers as the project owners and main contractors as
our customers. Our forte in the sector has resulted in us being the
prefered choice of Government departments and statutory bodies
for public sector projects, covering public residential developments,
infrastructure, and public facilities developments.
ESG GOVERNANCE STRUCTURE
The Board is dedicated in its comitment to upholding the
Group’s environmental and social obligations while overseing the
Group’s sustainability strategy and reporting. The Board shoulders
the responsibility of evaluating and determining the Group’s
climate-related risks and oportunities, ensuring the establishment of
apropriate and efective ESG risk management and internal control
systems through providing practical recomendations.
公司概况
GC Construction Holdings Limited 于2005年成
立，一直以分包商的身份透过我们两间主要营
运附属公司陈桥建筑泥水装饰工程有限公司及
盈威（陈桥）建筑泥水工程有限公司提供优质的
泥水工程服务。我们所承接的泥水工程通常涉
及不同工种，详情载列如下：
－ 批荡工程，一般指以手工或使用沙浆喷涂
机的方式将沙浆均匀地涂抹在地台、墙壁
及天花板的表面。
－ 瓷砖铺设工程，一般指切割并于地台及墙
壁的表面铺设瓷砖。
－ 砌砖工程，一般指以均匀分层的方式铺设
砖块。
－ 铺设地台工程，一般指将水泥、级配骨料
及水充分混合的混合物涂抹于地台基底。
－ 云石工程，一般指切割并于地台、窗台及
墙壁的表面铺砌云石。
我们坚决追求卓越的执行能力，使我们在香港
泥水工程分包市场享负盛名。我们主要在私营
界别营运业务，工作范围涉及私人住宅及商业
发展，项目拥有人为地产发展商，而客户为总承
建商。我们在私营界别的优势使我们成为政府
部门及法定机构在公营界别项目方面的首选，
工作范围涵盖公营住宅发展、基建以及公共设
施发展。
环境、社会及管治架构
董事会致力维护本集团的环境及社会责任，同
时监督本集团的可持续发展策略及汇报情况。
董事会肩负评估及厘定本集团气候相关风险及
机遇的责任，透过提供切实可行的建议，确保
我们能够建立适当有效的环境、社会及管治风
险管理系统及内部控制系统。
652024/25 年报 • GC CONSTRUCTION HOLDINGS LIMITED
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
For the day-to-day implementation, the Board places great importance
on facilitating the adoption of ESG strategies and policies throughout
the organisation. The Board and senior management also perform
regular metings to discus the implementation of ESG initiatives and
coresponding performance to kep abreast of al developments.
As part of its oversight role, the Board conducts regular reviews
of the Group’s ESG performance, examining and aproving the
Group’s anual ESG report, which serves as prof of the Group’s
strong comitment to ESG isues. The Board’s comitment to
ESG isues reflects its firm belief in the importance of corporate
social responsibility and its unwavering comitment to creating a
sustainable and responsible future.
STAKEHOLDER ENGAGEMENT
Continual engagement and transparent comunication with key
stakeholder groups are integral to crafting a busines strategy
that aligns with their neds and expectations, thereby enhancing
the ability to identify risks and fostering strong and colaborative
relationships. The Group regards stakeholder opinions as the bedrock
for sustainable development and suces, recognising that their
priorities and perceptions enable us to make informed decisions and
manage material ESG considerations. To facilitate efective stakeholder
engagement, the Group comunicates with its stakeholders via
various chanels, including but not limited to the folowing:
StakeholderKey ExpectationsComunication Chanel
持份者主要期望沟通渠道
Government and
regulators
• Compliance with national laws and
regulations
• Promote local employment
• Timely payment of taxes
• Ensure production safety
• Regular anouncements and other public
information
• Examinations and inspections
政府及监管机构• 遵守国家法例法规
• 促进当地就业
• 准时交税
• 确保生产安全
• 定期公告及其他公共资讯
• 评估及检查
Shareholders and
investors
• Profits
• Compliant operation
• Increase company value
• Transparency in information and efective
comunication
• General metings
- , ESG reports,
anouncements and other public
information
- , telephone comunication
• Company website
股东及投资者• 收益
• 合规经营
• 提升公司价值
• 资讯透明度及有效沟通
• 股东大会
- 、环境、社会及管治报告、公告
及其他公共资讯
• 电邮及电话通讯
• 公司网站
就有关系统的日常运作而言，董事会认为透过
组织促进采纳环境、社会及管治策略及政策，
至关重要。董事会及高级管理层亦会定期召开
会议，就实施环境、社会及管治举措及相关表
现进行讨论，以了解一切最新发展。
作为其监督角色的一部分，董事会定期检讨
本集团的环境、社会及管治表现，审批本集团
的年度环境、社会及管治报告，展现本集团对
环境、社会及管治议题的坚决承担。董事会对
环境、社会及管治议题的承诺反映了其对企业
社会责任的重要性的坚定信念，以及其对创建
可持续及负责任的未来的坚决承诺。
持份者参与
对于制订符合持份者需要及期望的业务策略，
从而提升我们识别风险及建立强大的合作关系
的能力而言，与主要持份者群组持续接触及保
持具透明度的沟通至关重要。本集团视持份者
意见为可持续发展及成功的基石，明白持份者
对议题的优先排序及观点能够让我们作出知情
决定，以及管理重大的环境、社会及管治考虑
因素。为促进有效的持份者参与，本集团透过
多个渠道与持份者沟通，包括但不限于：
66GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
StakeholderKey ExpectationsComunication Chanel
持份者主要期望沟通渠道
Supliers/
Sub-contractors/
Busines partners
• Operate with integrity
• Fair competition
• Performance of contracts
• Mutual benefit and win-win outcomes
• Review and apraisal metings
• Busines comunications
供应商╱分包商╱
业务伙伴
• 诚信经营
• 公平竞争
• 履约
• 互利共赢
• 审查及评估会议
• 业务通讯
Customers• Health and safety
• Timely performance of contracts
• Operate with integrity
• Customer service center and hotlines
• Customer comunication metings
客户• 健康与安全
• 准时履约
• 诚信经营
• 客户服务中心及热线
• 客户通讯会议
Environment• Energy saving and emision reduction• Reporting
• Investigations and inspections
环境• 节能减排• 报告
• 调查及检查
Comunity or
non-governmental
Organisations (NGOs)
• Improve comunity environment
• Participation in charity
• Transparent information
• Participation in comunity events
• ESG Reports
社区或非政府组织• 改善社区环境
• 参与慈善活动
• 资讯透明度
• 参与社区活动
- 、社会及管治报告
Media• Transparency and acuracy in information• Enquiry mailbox
媒体• 资讯透明度及准确性• 查询邮箱
Industry• Promote industry growth and
advancement
• Participate in industry forums
行业• 促进行业增长及进步• 参与行业论坛
Employes• Ocupational health and safety
• Remunerations and benefits
• Carer development
• Social welfare
• Employe comunication metings
• Training and workshop
• Employe activity
• Surveys
雇员• 职业健康与安全
• 薪酬及福利
• 职业发展
• 社会福利
• 雇员通讯会议
• 培训及工作坊
• 雇员活动
• 问卷调查
672024/25 年报 • GC CONSTRUCTION HOLDINGS LIMITED
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
MATERIALITY ASESMENT
The Group conducts internal and external materiality asesments to
identify relevant isues for disclosure in the Report. By considering
the impact and influence of stakeholders, alongside the available
resources for the Group, the management pinpointed and invited
key stakeholders to participate in a survey that seks their input and
recomendations on ESG-related isues pertaining to the Group’s
operations.
The materiality asesment conducted during the Reporting Period
yielded a refined set of 10 material topics, derived from a list of 21
potentialy relevant isues. The Group has constructed a materiality
matrix as depicted below. The materiality matrix highlights isues of
significance from the perspective of stakeholders and the Group’s
busineses with the isues faling within the quadrant in top-right
holding greater significance. Based on the materiality asesment
outcomes, we have identified the folowing sustainability isues as the
most pertinent:
The Group wil continue to improve its reporting proces when
there are relevant updates on methodologies of procesing data and
disclosures in future.
Environmental
governance
and compliance
环境管治及合规
Discharge of
polutants
污染物排放
Production safety
生产安全
Response to climate
change and low-carbon
development
应对气候变化及低碳发展
Comunity investment
and engagement
社区投资及参与
Environmental
technology and
clean energy
环境科技及清洁能源
Waste disposal
and composite
utilization
废弃物处置及综合利用
Management eficiency,
operational results
and corporate value
管理效益、营运业绩及
企业价值
Energy and
resources
management
能源及资源管理
Drive for
employment
促进就业
重要性评估
本集团进行内部及外部重要性评估，以识别须
在本报告中披露的相关议题。管理层透过考虑
持份者的影响以及本集团可用的资源，确定了
一份主要持份者的名单，并邀请彼等参与问卷
调查，征求彼等对有关于本集团营运的环境、
社会及管治议题的意见及建议。
本集团于报告期进行的重要性评估中，从21个
潜在相关议题中精简出10个重要议题，然后构
建了一个重要性矩阵（如下图所示）。重要性矩
阵指出对于持份者及本集团业务的角度而言重
要的议题，而右上象限载列的议题尤为重要。
根据重要性评估的结果，我们将以下可持续发
展议题确定为最相关的议题：
未来，倘处理数据及披露的方法出现相关变化，
本集团将继续改善其报告程序。
| 1 | 1 | 3 11 14 12 | 1 7 6 | 9 | |||
|---|---|---|---|---|---|---|---|
| 5 | |||||||
| 15 | 8 21 10 2 | ||||||
| 16 4 17 18 | 1 | 9 | |||||
| 2 | |||||||
| 3 | |||||||
| 8 |
|---|
| 2 | 0 |
|---|
| 18 |
|---|
| 1 | 8 | 15 | ||
|---|---|---|---|---|
| 2 | Anti-corruption and risk management 反贪污及风险管理 | 9 | Waste disposal and composite utilization 废弃物处置及综合利用 | 16 |
| 3 | Safeguarding the rights and interests of shareholders and investors 保障股东及投资者的权利及权益 | 10 | Response to climate change and low-carbon development 应对气候变化及低碳发展 | 17 |
| 4 | Deepening reform and high-quality development 深度改革及高质量发展 | 11 | Compensation and benefits of employees 雇员待遇及福利 | 18 |
| 5 | Environmental governance and compliance 环境管治及合规 | 12 | Development and training of employees 雇员发展及培训 | 19 |
| 6 | Energy and resources management 能源及资源管理 | 13 | Occupational health of employees 雇员职业健康 | 20 |
| 7 | Environmental technology and clean energy 环境科技及清洁能源 | 14 | Rights and interests of employees and care for employees 雇员权利及权益以及关心雇员 | 21 |
68GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
M
a
t
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r
i
a
l
i
t
y
t
o
S
t
a
k
e
h
o
l
d
e
r
s
Materiality to Group’s Development
Materiality Matrix
对本集团发展的重要性
重要性矩阵
对
持
份
者
的
重
要
性
Product and service quality
management
产品及服务质素管理
Rights, interests and satisfaction
of customer
客户权利、权益及满意度
Suply chain management
供应链管理
Facilitation of fair competition
促进公平竞争
Production safety
生产安全
Drive for employment
促进就业
Comunity investment and
engagement
社区投资及参与
692024/25 年报 • GC CONSTRUCTION HOLDINGS LIMITED
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
ENVIRONMENTAL ASPECTS
Environmental Management
The Group strives to incorporate a culture of environmental
responsibility and sustainable practices into our operations. To
achieve this, the Group’s subsidiaries have adopted environmental
management systems which are in conformity with the requirements
of ISO 14001:2015 standards.
The Group’s environmental management system encompases
a range of measures and protocols to guarante adherence
to environmental protection regulations. Our employes and
subcontractors are obligated to adhere to these procedures. The
environmental management system we have in place is extensive,
covering every aspect of our operations, from raw material
procurement to waste disposal. For instance, our environmental
management system may include measures such as waste reduction,
energy conservation, and polution prevention, while work
procedures may include guidelines on the proper handling and
disposal of hazardous materials, minimising emisions from vehicles
and equipment, and conserving resources like water and energy.
Our primary objective in implementing these measures and
procedures is to limit our environmental impact and ensure that we
operate in a sustainable maner. Compliance with these protocols
is mandatory for al employes and subcontractors, and we regularly
monitor and audit our activities to ensure that we are achieving our
environmental goals.
Emisions Target and Objectives
Short-term
The environmental targets below are set for the existing projects:
Our objective is to adhere to al legislation pertaining to air quality,
noise, water quality, and waste management, ensuring 100%
compliance. Aditionaly, we aim to prevent any breach of the limits
for air, noise, and water, and to avoid receiving any complaints
during the contract period. To acomplish these goals, we wil ensure
that al waste is sorted with the concept of reusing and recycling.
By implementing these measures, we strive to promote responsible
waste management and minimise environmental impact.
环境层面
环境管理
本集团致力将履行环境责任及可持续发展惯例
的文化融入我们的营运当中。为达致有关目标，
本集团的附属公司采纳了符合ISO 14001:2015标
准的环境管理系统。
本集团的环境管理系统包含一系列措施及规程，
确保我们能够遵守环保规例。雇员及分包商均
须遵守该等程序。我们设立的环境管理系统的
范围十分广泛，涵盖了原材料采购以至废弃物
处置等业务营运的各个方面。例如，我们的环
境管理系统或会包含与减少废弃物、节约能源
及污染防治相关的措施，而工作程序或会包含
与妥善处理及处置有害物料、减少汽车及设备
的排放以及节约水电等资源相关的指引。
我们落实该等措施及程序的主要目标是要限制
我们的环境影响，确保我们得以按可持续的方
式经营业务。所有雇员及分包商都必须遵守该
等规程。我们会定时监察及审核业务活动，确
保我们达成环境目标。
排放目标及目的
短期
以下是为现有项目而设的环境目标：
我们的目标是要遵守所有与空气质素、噪音、水
质及废弃物管理相关的法例，确保本公司100%
合规。我们另一个目标是避免违反与空气、噪
音及用水方面的限制，以及避免在合约期内收
到任何投诉。为达致有关目标，我们将确保所
有废弃物都会根据物尽其用及循环再用的理念
进行分类。我们透过采纳该等措施，致力推行
负责任的废弃物管理做法，减少对环境造成的
影响。
70GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
Long-term
Our objectives are to enhance compliance with legislation related to
air quality, noise, water quality, and waste management. We aim
to achieve this by controling the noise generated by our operations
and minimising waste generation during the construction phase.
Aditionaly, we sek to minimise the amount of waste that is sent to
disposal grounds.
The Group has established emision reduction targets to ensure a
sustainable future. These targets have ben set in comparison to
the 2022/2023 baseline year, and we aim to atain the folowing
objectives by 2027/2028:
– Decrease air emision by 3%.
– Decrease energy consumption by 3%.
– Decrease water consumption by 3%.
– Decrease waste disposal by 3%.
Emisions
The Group is bound by specific environmental regulations under
Hong Kong laws, including the Air Polution Control Ordinance (Cap.
311), Noise Control Ordinance (Cap. 400), Water Polution Control
Ordinance (“WPCO”) (Cap. 358), Waste Disposal Ordinance (Cap.
354), Public Health and Municipal Services Ordinance (Cap. 132) and
other relevant environmental ordinances and regulations.
The Group ensures its compliance with relevant laws and regulations
through measures described in the folowing sections.
长期
我们的目标是要加强遵守与空气质素、噪音、
水质及废弃物管理相关的法例。我们通过控制
业务营运产生的噪音及减少施工阶段产生的废
弃物，力求达致有关目标。此外，我们亦会尽
量减少被送往堆填区的废弃物数量。
本集团制订了减排目标，确保构建一个可持续发
展的未来。设立有关目标时，我们以2022/2023
年为基准年，并计划于2027/2028年之前实现以
下目标：
－ 废气排放量减少3%。
－ 能源耗用量减少3%。
－ 耗水量减少3%。
－ 废物弃置量减少3%。
排放
本集团受香港法例项下的特定环境规例约束，
包括第311章《空气污染管制条例》、第400章《噪
音管制条例》、第358章《水污染管制条例》（「水
污染管制条例」）、第354章《废物处置条例》、第
132章《公共卫生及市政条例》及其他相关的环境
条例及规例。
本集团透过采纳以下章节描述的措施，确保其
遵守相关法例法规。
| 3.05 |
|---|
| 0.06 |
| 0.22 |
| 3.33 |
712024/25 年报 • GC CONSTRUCTION HOLDINGS LIMITED
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
Air Polutant Emisions
As a wet trades works contractor, the main source of air polutant
emisions for our operations are mainly generated from our forklifts
and motor vehicles. Our executive Directors believe that the emisions
generated by our forklifts are relatively minor, nevertheles our
Group is stil comited to reduce air polutant emisions as much
as posible. The table below sets forth a breakdown of air polutants
generated from motor vehicles owned by the Group:
2024/20252023/2024
2024/2025年2023/2024年
kgkg
Air Polutant Emisions空气污染物排放千克千克
Total Nitrogen Oxides (NO
x
)氮氧化物总量5.00
Total Sulphur Oxides (SO
x
)硫氧化物总量0.07
Total Particulate Mater (PM)颗粒物总量0.37
Total总计5.44
空气污染物排放
作为一间泥水工程承建商，我们业务营运产生
的空气污染物排放的主要来源主要来自叉车及
汽车。执行董事认为叉车产生的排放量相对轻
微，但本集团仍然致力于尽可能减少空气污染
物排放。下表载列本集团所拥有的汽车产生的
空气污染物明细：
| 11.27 |
|---|
| 5.33 |
| 3.11 |
| 19.71 |
| 0.04 |
72GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
GHG Emisions
During the Reporting Period, majority of our GHG emisions are
generated from (i) combustion of petrol by our forklift and motor
vehicles (Scope 1); consumption of electricity in our ofice (Scope 2);
and consumption of paper (Scope 3). The diesel utilised for forklift
during operations and the construction waste we generated in
construction sites were mainly provided and handled by the main
contractors therefore we have no record of those KPIs. The table
below provides a breakdown of our GHG emisions in tones CO
equivalent (“tCO
e”) during the Reporting Period:
2024/20252023/2024
2024/2025年2023/2024年
tCO
etCO2e
GHG Emisions温室气体排放吨二氧化碳当量吨二氧化碳当量
Total Scope 1 Emisions范围一排放总量12.84
Total Scope 2 Emisions
范围二排放总量
5.73
Total Scope 3 Emisions范围三排放总量3.59
Total Emisions (Scope 1, 2 and 3)排放总量（范围一、二及三）22.16
Intensity (per milion HK$ revenue)密度（每百万港元收入）0.04
For the Reporting Period, Scope 1 emisions acounted for
aproximately 57% of the total GHG emisions, Scope 2 emisions
acounted for aproximately 27% of the total GHG emisions and
Scope 3 emisions acounted for aproximately 16% of the total
GHG emisions. The total GHG emisions and its intensity were 19.71
tCO
e and 0.04 tCO
e per milion HK$ revenue respectively.
The emision factor used for the calculation of Scope 2 emisions was
available from the latest sustainability report published by the CLP Power
Hong Kong Limited.
用于计算范围二排放的排放系数可从中华电力
有限公司最新发布的可持续发展报告中获取。
温室气体排放
于报告期，我们大部分温室气体排放乃来自(i)叉
车及汽车燃烧汽油（范围一）；办公室耗用电力
（范围二）；及耗用纸张（范围三）。叉车在营运
过程中使用的柴油及我们在工地产生的建筑废
料主要由总承建商提供及处理，因此，我们并
无与该等关键绩效指标有关的记录。下表载列
于报告期温室气体排放（以吨二氧化碳当量（「吨
二氧化碳当量」）计）的明细：
于报告期，范围一排放占温室气体排放总量
约57%，范围二排放占温室气体排放总量约
27%，而范围三排放占温室气体排放总量约
16%。温室气体排放总量及其密度分别为19.71
吨二氧化碳当量及每百万港元收入0.04吨二氧
化碳当量。
732024/25 年报 • GC CONSTRUCTION HOLDINGS LIMITED
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
To minimise the direct and indirect GHG emisions asociated with
our operations, we have implemented several measures, including:
– reminding our employes to switch of idling engines when our
forklifts or motor vehicles are not in use;
– monitoring the fuel consumption of our forklifts and motor
vehicles and conducting regular maintenance and inspections to
ensure optimal performance; and
– adhering to air polution abatement guidelines as outlined in our
environmental management plan. These guidelines encompas
ensuring that the concentration and rates of air polutants
comply with pertinent environmental protection laws and
regulations, conducting regular inspections to ensure that our
forklifts and motor vehicles’ GHG emisions fal do not exced
the prescribed legal limits as wel as prohibiting open burning on
project sites.
Waste Management
Acording to our materiality asesment, waste disposal and
composite utilisation has ben shown to be one of the key concerns
pertaining to environmental problems by our stakeholders. It is of
utmost importance for the Group to adres to the neds of our
stakeholders and we wil perpetualy strive to adopt apropriate
waste reduction and recycling measures as wel as being in
compliance with the Waste Disposal Ordinance.
为减少与我们营运相关的直接及间接温室气体
排放，我们实行了多项措施，包括：
－ 提醒雇员关上不使用的叉车或汽车的引擎；
－ 监控叉车及汽车的燃料耗用量，并进行定
期维修与检查，以确保叉车及汽车达致最
佳效能；及
－ 遵守我们的环境管理计划概述的空气污染
物减排指引。该等指引涵盖了确保空气污
染物的浓度及水平遵从相关的环保法律法
规。我们亦会进行定期检查，以确保叉车
及汽车的温室气体排放不会超过订明的法
律限制，以及禁止在项目工地进行露天焚
烧活动。
废弃物管理
根据我们重要性评估的结果，废弃物处置及综
合利用是持份者对于环境问题的主要关切点之
一。本集团必需回应持份者的需求，因此，我
们将不断努力采取合适的减废及回收措施，以
及遵守《废物处理条例》的规定。
| 648.65 |
|---|
| 1.22 |
74GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
Hazardous Wastes
To the best knowledge of our executive Directors and due to the
nature of our busines, the Group did not generate a significant
amount of hazardous waste during our operations. However, we
have established guidelines to manage any hazardous substances or
chemicals that may be used in our operations.
For instance, we compile safety data shets that detail the
composition and physical and chemical properties of any hazardous
materials we use, as wel as instructions for their safe handling,
storage, use, and disposal. We also provide training and workshops to
our employes on the proper treatment of hazardous substances and
chemicals.
In the rare event that we do produce hazardous waste, a qualified
chemical waste colector wil be apointed to handle and dispose
of such waste in compliance with relevant environmental laws and
regulations.
Non-Hazardous Wastes
2024/20252023/2024
2024/2025年2023/2024年
kgkg
Waste废弃物千克千克
Total Non-Hazardous Wastes
无害废物总量
748.44
Intensity (per milion HK$ revenue)密度（每百万港元收入）1.221.28
The non-hazardous waste that the Group generates are primarily
from paper consumption and domestic waste. For those papers
containing sensitive information of the Group, they wil be properly
scatered before being treated as waste. Such wastes are colected
and procesed by our ofice’s property management, therefore,
the relevant quantitative data is not available. And we have no
discharges into land except solid waste that delivers to landfils. Over
the Reporting Period, we generated aproximately 648.65kg of
non-hazardous waste.
Non-hazardous wastes only includes paper wastes from our ofice.
无害废弃物仅包括来自我们办公室的废纸。
有害废弃物
就执行董事深知且鉴于我们的业务性质，本集
团的业务营运并无产生大量有害废弃物。然而，
我们仍制订了指引，以规管我们营运可能用到
的任何有害物质或化学品。
例如，我们会编制安全数据表，详列我们使用
的任何有害物料的成份以及物理和化学特性，
以及安全处理、储存、使用及处置有关物料的
指示。我们亦会为雇员提供有关妥善处理有害
物质及化学品的培训及工作坊。
倘我们在极罕有的情况下产生了有害废弃物，
我们将指派合资格的化学废弃物收集商负责处
理及处置有关废物，以遵守相关环境法律法规。
无害废弃物
本集团产生的无害废弃物主要来自纸张耗用及
家居废弃物。载有本集团敏感资料的纸张将会
妥为辗碎再作废弃物处理。由于该等废弃物是
由我们的办公室物业管理处负责收集及处理，
因此无法取得相关定量数据。另外，除送往堆
填区的固体废弃物外，我们并无向土地作任何
排污。于报告期内，我们产生了约648.65千克的
无害废弃物。
752024/25 年报 • GC CONSTRUCTION HOLDINGS LIMITED
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
To limit the environmental impact of our non-hazardous waste,
we have implemented several waste management measures and
launched various waste reduction initiatives. These measures include
providing recycling bins for various waste streams to encourage
recycling, promoting the use of electronic comunication to reduce
paper consumption, placing a colection box for single-sided used
paper next to each printer to promote paper reuse, and encouraging
employes to use double-sided printing or photocopying whenever
posible. Moreover, on-site project teams are trained to study the
customer’s specifications very wel to gauge the estimated number of
materials that wil be used so as to prevent wastage.
Through these measures, we aim to reduce the amount of
non-hazardous waste generated by our busines operations and
promote sustainable waste management practices.
Sewage Discharge
The Group’s operations have not resulted in any significant water
consumption, and thus we have not generated any substantial water
discharges during the Reporting Period. In compliance with the Water
Polution Control Ordinance, any wastewater that is produced at
site is discharged into the municipal sewage pipeline network for
procesing under the acount of our main contractors.
Noise
Given the nature of our busines, we acknowledge that noise
generated on project sites can have negative environmental impacts.
To minimise any anoyance to the comunity and environment, we
have adopted specific noise polution control policies on our project
sites.
The Group has taken practical steps to mitigate excesive noise
resulting from our operations. These measures include utilising
advanced construction and noise damping technology to minimise
noise levels. Furthermore, we investigate underlying causes and make
necesary adjustments to adhere to relevant regulations, such as
the Noise Control Ordinance, when noise levels exced prescribed
levels. Aditionaly, we provide hearing protection devices for our
employes to minimise their exposure to excesive noise levels. By
implementing these measures, we aim to reduce the negative impact
of noise polution resulting from our operations and ensure the safety
and wel-being of our employes.
为限制我们的无害废弃物造成的环境影响，我
们实施了多项废弃物管理措施，并发起了多项
减废举措。该等措施包括为多个废弃物来源提
供回收箱以鼓励回收、推广使用电子通讯以减
少耗纸量、在每台打印机旁边放置一个单面废
纸收集箱以推广重用纸张，以及鼓励雇员尽可
能使用双面打印或影印。此外，现场项目团队
已经接受培训，能够准确地判定客户的要求，
以衡量将使用的材料的估计数量，避免造成浪
费。
透过该等措施，我们旨在减低业务营运产生的
无害废弃物数量，推广可持续的废弃物管理惯
例。
污水排放
本集团的业务营运并无耗用大量水资源，因此，
我们于报告期内的排水量并不重大。遵照《水污
染管制条例》的规定，于工地现场产生的任何污
水均会排入市政污水管网，由总承建商负责处
理。
噪音
鉴于我们业务的性质，我们承认项目工地产生
的噪音可能会对环境造成负面影响。为减少对
社区及环境造成的滋扰，我们已在项目工地实
行特定的噪音管制政策。
本集团已采取切实可行的步骤去减少营运产生
的过量噪音。有关措施包括使用先进的建筑及
降噪技术，以减低噪音水平。此外，我们亦会在
噪音声量超逾法定水平时，调查根本原因并作
出必要调整，以遵守《噪音管制条例》等相关规
例。另外，我们亦会为雇员提供听觉保护器，
以减低彼等接触过量噪音的风险。我们透过落
实该等措施，旨在减低营运产生的噪音造成的
负面影响，保障雇员的安全与健康。
| 40.94 |
|---|
| 14.03 |
| 54.97 |
| 0.10 |
76GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
Resource Consumption
Energy Consumption
The Group’s primary sources of energy consumption mainly included
(i) consumption of petrol by our motor vehicles; and (i) electricity
used in ofice. The table below provides a detailed breakdown of our
major sources of energy consumption during the Reporting Period:
2024/20252023/2024
2024/2025年2023/2024年
MwhMwh
Energy Consumption能源耗用兆瓦时兆瓦时
Direct Energy Consumption
直接耗能量
46.78
Indirect Energy Consumption
间接耗能量
14.69
Total Energy Consumption总耗能量61.47
Intensity (per milion HK$ revenue)密度（每百万港元收入）0.11
During the Reporting Period, the total energy consumption and its
intensity were 54.97MWh and 0.10MWh per milion HK$ revenue
respectively.
In adition to the energy saving measures implemented for our
forklifts and motor vehicles, our Group has established energy
conservation management practices to minimise the waste of energy.
These include:
– encouraging e-ofice practices and measures that promote
energy conservation, such as turning of electronic apliances
when not in use;
– encouraging employes to set rom temperatures within the
range of 23º C to 25º C;
– providing regular training and workshops to enhance
knowledge on energy-saving measures and awarenes among
employes;
– fostering the use of energy-saving and eficient equipment and
atending to damages imediately once reported.
By adopting these energy conservation measures, we aim to minimise
our energy consumption and promote sustainable practices within
our busines operations.
Direct energy consumption includes usage of fuels by the Group’s motor
vehicles.
Indirect energy consumption includes usage of electricity purchased
from the CLP Power Hong Kong Limited for the Group’s ofice use.
直接耗能包括本集团汽车使用的燃料。
间接耗能包括使用外购自中华电力有限公司的
电力，以供本集团办公室使用。
资源消耗
能源耗用
本集团的主要能源耗用主要包括(i)汽车耗用的
汽油；及(i)办公室所用电力。下表详细载列了
我们于报告期内的主要能源耗用明细：
于报告期，总能源耗量及其密度分别为54.97兆
瓦时及每百万港元收入0.10兆瓦时。
除了在叉车及汽车采取节能措施之外，本集团
亦制订了节能管理惯例，以减少浪费能源。有
关惯例包括：
－ 鼓励雇员实行电子办公及推广节能措施，
例如是不使用时关上电子设备；
－ 鼓励雇员将室温定在摄氏23度至25度之间；
－ 向雇员提供定期的培训及工作坊，提升彼
等有关节能措施的知识及认知；及
－ 推广使用节能高效的设备，并在设备报损
时立即处理有关毁损。
我们透过采纳该等节能措施，旨在减少耗能量，
并在业务营运中推广可持续发展的做法。
772024/25 年报 • GC CONSTRUCTION HOLDINGS LIMITED
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
Water Consumption
Our Group’s primary water consumption ocurs within our ofice,
and our water consumption expenses are included in the property
management fe. Therefore, the related consumption data is not
available. To ensure eficient use of water, we have implemented
measures to increase water eficiency. For example, we have placed
environmental signs with water-saving mesages in prominent
locations within our ofice to promote water conservation. Through
these measures, we aim to promote sustainable water usage practices
and minimise our environmental impact.
Water is also recognised as a precious resource. During the Reporting
Period, we obtained water from the third-party supliers, hence, we
were not aware of any isue in sourcing water that is fit for purpose.
Packaging Materials
As the Group’s operations do not involve any production proces,
it does not consume packaging materials, this aspect is considered
irelevant to the Group.
The Environment and Natural Resources
The Group’s primary objective is to minimise the negative impact
of busines operations on the environment and natural resources.
To achieve this, the Group aims to implement best practices that
promote environmental protection and adaptation to climate change.
Aditionaly, the Group strives to cultivate an eco-conscious culture
that encourages positive lifestyle and habits among employes.
In adition to our ful compliance with the Waste Disposal Ordinance,
Public Health and Municipal Services Ordinance, Water Polution
Control Ordinance, Noise Control Ordinance, Air Polution Control
(Non-road Mobile Machinery) (Emision) Regulation and Air Polution
Control Ordinance, an environmental management system in
conformance with ISO 14001 international standard has also ben
established. In general, works performed by our subcontractors are
inspected and monitored by our project management team to ensure
adherence with our environmental management system.
用水
本集团主要在办公室耗用水资源，而水费计入
物业管理费，因此并无相关耗水量数据。为确
保有效用水，我们已采纳多项措施去提升用水
效能。例如，我们在办公室当眼位置张贴了载
有节水信息的环保标志，宣传节约用水。我们
透过该等措施，旨在推广可持续的用水习惯，
减低我们对环境造成的影响。
我们认为水资源非常珍贵。于报告期内，由于
我们从第三方供应商获得水资源，因此，我们
并不知悉我们在求取适当用水方面有遇上任何
问题。
包装材料
本集团的营运并无涉及任何生产流程，其并无
消耗任何包装材料。因此，此范畴被视为与本
集团并不相关。
环境及天然资源
本集团的首要目标是减低业务营运对环境及天
然资源的负面影响。为实现有关目标，本集团旨
在实施推广环保及应对气候变化的最佳做法。
此外，本集团亦努力培育环保文化，鼓励雇员
养成积极健康的生活习惯。
除了全面遵守《废物处置条例》、《公众衞生及
市政条例》、《水污染管制条例》、《噪音管制条
例》、《空气污染管制（非道路移动机械）（排放）
规例》及《空气污染管制条例》之外，我们亦已
设立一套符合ISO 14001国际标准的环境管理系
统。一般而言，我们分包商履行的工程会由项
目管理团队检测及监控，以确保有关工程符合
环境管理系统的要求。
78GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
The Group shows our comitment by identifying and planing for
efective responses to potential environmental impacts of related
busines activities as folows:
Environmental ImpactsActivityResponse
环境影响活动回应
Air and noise polution• Machinery operations
• Construction works
• Advanced technology for mitigation
空气及噪音污染• 机械操作
• 建筑工程
• 先进的缓解技术
Water contamination• Discharge of wastewater• Emisions control
水污染• 废水排放• 控制排放
Depletion of natural resources• Ofice operations
• Construction works
• Resource utilisation reduction
耗竭天然资源• 办公室营运
• 建筑工程
• 减少使用资源
For the Reporting Period, the Group was not aware of any cases of
non-compliance with laws and regulations that have a significant
impact on the Group in relation to air and GHG emisions, noise
control, discharges into water and land, and generation of hazardous
and non-hazardous waste.
Climate change
The Board are responsible for seting climate-related policies, aprove
targets, and ensuring compliance with regulatory standards. The Board
met anualy to evaluate climate-related risks and oportunities,
incorporating them into corporate strategy and operational
decision-making. Senior management of our Group are responsible
for facilitating the implementation of climate initiatives, risk mitigation
measures, performance monitoring; and reporting to our executive
Directors regularly. Our Board wil also stay informed about the
latest government policies regarding climate change and colaborate
closely to identify future risks and oportunities and take apropriate
measures to adapt to the constantly changing circumstances. When
necesary, our Board may sek profesional advice from external
experts to beter suport the decision-making proces.
The Hong Kong Government has developed various plans and
initiatives in response to the Paris Agrement, including the isuance
of “Hong Kong’s Climate Action Plan.” This plan outlines the vision
of achieving “Zero-carbon Emisions, Liveable City, Sustainable
Development” and includes specific actions to achieve this goal.
The Group intends to align with local government initiatives and
comply with the local emision reduction requirements. Our target
is to reduce GHG emisions by aproximately 3% by the financial
year 2027/28, and we are comited to ensuring that Group’s GHG
emisions wil met the local requirements by 2030 at the latest.
本集团透过识别及规划有效回应相关业务活动
的潜在环境影响的方法，体现我们对环保的承
诺，详情如下：
于报告期，本集团并不知悉我们有违反任何与
空气和温室气体排放、噪音控制、向水和土地
的排放以及有害和无害废弃物的产生有关且对
本集团造成重大影响的法例法规。
气候变化
董事会负责制定气候相关政策、批准目标，并
确保符合监管标准。董事会每年举行会议，评
估与气候相关的风险及机遇，并将其纳入企业
策略及营运决策中。本集团的高级管理层负责
推动气候举措、风险缓解措施、绩效监控的执
行，并定期向执行董事汇报。董事会亦会密切
留意与气候变化有关的最新政府政策，并会紧
密合作以识别未来的风险及机遇，以及采取适
当措施去应对不断变化的环境。必要时，董事
会可能寻求外部专家的专业意见，以更好地支
援决策过程。
为响应《巴黎协定》，香港政府已制订多项计划
及举措，包括发布《香港气候行动计划》。该计
划概述了实现「零碳排放•绿色宜居•持续发展」
的愿景，并载有实现有关目标的具体行动。本
集团有意配合本地政府的举措，遵守本地减排
要求。我们的目标是要在2027/28财年之前将温
室气体排放减少约3%，并致力确保本集团的温
室气体排放最迟在2030年之前能够达到本地要
求。
792024/25 年报 • GC CONSTRUCTION HOLDINGS LIMITED
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
The Group has included climate change action in its busines strategy
and integrated it into its governance and management proceses.
A table provided below outlines the four esential elements of
the Group’s response to the climate change disclosure obligations
acording to the Task Force on Climate-Related Financial Disclosures
recomendations.
Core elementThe Group’s response
核心要素本集团的回应
Governance• Regular meting on ESG topics
- , including those related to climate, into corporate
decision-making proceses
管治• 就环境、社会及管治议题召开定期会议
- 、社会及管治事宜（包括与气候相关的事项）纳入公司决策流程
Strategy• Understanding climate risks and recognising the risks and oportunities asociated
with the transition to a low-carbon economy
策略• 了解气候风险并确认与低碳转型相关的风险及机遇
Risk Management• Reviewing ESG risk on regular basis
• Preparing for the transition to a low-carbon economy
• Establishing and implementing measures to manage physical climate risks
风险管理• 定期检讨环境、社会及管治风险
• 准备过渡至低碳经济
• 设立及落实措施去管理实体气候风险
Metrics and Targets• Developing short-term, medium-term, and long-term goals for reducing GHG
emisions to achieve net-zero emisions
指标及目标• 制订与减少温室气体排放有关的短、中及长期目标，以实现净零排放
本集团已将气候变化行动纳入其业务策略，并
融入我们的管治及管理程序当中。下表概述了
本集团根据气候相关财务信息披露工作组的建
议，回应对候变化披露责任时计及的四个基本
要素。
80GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
After analysing the data provided by the Hong Kong Observatory, we
have identified several risks and oportunities that may have material
impact on our busines growth:
RisksOportunities
风险机遇
Short term (0–1 year)• Transition risks – Securing the skils
and capability required to implement
climate strategy
- – Implementation of
regulations to mandate “Prevention of
Heat Stres At Work” guidelines
- – Rising temperature and
heightened precipitation resulting in
the proliferation of mosquitoes, which
increases the risk of transmision of
mosquito-borne diseases
- – Increased frequency and
severity of extreme weather conditions
such as cyclones and extreme
precipitation
• Technologies to enhance the
performance of operation and energy
eficiency
• Heat-relieving measures to combat
increasing temperatures and rearange
work schedules to avoid working under
hot weather
短期（0至1年）• 过渡风险－获得落实气候策略所需的
技能及能力
- －实施规例，以强制执行
「在工作时预防中暑」指引
- －气温上升及降水量增加导
致蚊虫大量滋生，增加了蚊子传播疾
病的风险
- －极端天气状况（如龙卷风
及极端降水事件）的频密程度及严重
程度增加
• 提升营运表现及能源效益的技术
- ，以及重新安
排工作时间，避免在酷热天气下工作
Medium term
(5 years)
- – Implementation of
low-carbon policies for the operation
- – Changing
customer behaviour in response to
climate-related risk wil afect demand
and suply of our gods and services
• Increasing oportunities in
environmentaly friendly urban
redevelopment
• Replacing our forklifts with those that
emit les GHG
中期（5年）• 过渡风险－就营运实施低碳政策
- －客户行为因与气候相关的
风险而改变，将影响我们商品及服务
的供求
• 增加环保市区重建的机会
• 将叉车更换为温室气体排放量较少的
型号
我们分析了香港天文台提供的数据之后，识别
出多个可能会对我们的业务增长造成重大影响
的风险及机遇：
812024/25 年报 • GC CONSTRUCTION HOLDINGS LIMITED
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
RisksOportunities
风险机遇
Medium to long term
(5+ years)
- – Potential new
regulation and policies such as carbon
taxes wil increase cost
- – Development and use
of emerging technologies may increase
the operational costs, and reduce the
Group’s competitivenes
- – Reputation may be
impacted due to changing customer or
comunity perceptions if we do not
achieve the public demands
- – Rising sea levels
resulting in severe damages to wet
trades works performed at low-lying
areas due to floding
• Transitioning to low carbon economy
market to met government
decarbonisation targets
• Becoming a pioner in the industry and
building up the relevant reputations
中长期（超过5年）• 过渡风险－潜在的新规例及政策（如
碳税）将增加成本
- －发展及使用新兴技术可能
会增加营运成本，减低本集团的竞争
力
- －倘我们未能满足公众要
求，客户或社区对我们的观感或会产
生变化，从而影响我们的声誉
- －海平面上升将导致在低洼
地区进行的泥水工程因洪水而受到严
重破坏
- ，以达成政府的
减碳目标
- ，树立声誉
Action on Climate Change
Our action plan encompases various measures, including but not
limited to:
– encouraging employes, supliers, and customers to reduce
carbon emisions into their day-to-day activities wherever
feasible;
– establishing and implementing long-term targets for reducing
our carbon fotprint;
– adopting industry best practices and technology to enhance
energy eficiency in our daily operations such as replacing our
forklifts with those that emit les GHG or are more eficient in
energy consumption; and
– taking climate change into acount in al strategic maters.
与气候变化有关的行动
我们的行动计划包含多项措施，包括但不限于：
－ 鼓励雇员、供应商及客户在可行的情况下
减少日常活动产生的碳排放；
－ 制订并落实长远目标，以减少碳足印；
－ 采纳最佳行业惯例及技术，以提升日常营
运的能源效益，例如是将叉车更换为温室
气候排放量较少或能源消耗效益较高的型
号；及
－ 在所有策略事宜中考虑气候变化的问题。
82GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
SOCIAL ASPECTS
Employment and Labour Practices
Employment, Recruitment and Promotion
The Group acknowledges that the suces of the organisation heavily
relies on the skils, capabilities, and comitment of its employes.
Therefore, the Group’s philosophy is centered on atracting highly
competent candidates who share the same values and mision as the
Group, while also promoting diversity to foster excelence. The Group
aims to recruit suitable talent and maintain a pol of employes based
on human resource planing and requirements. High-performing
employes wil be promoted and moved to fil vacancies, providing
them with oportunities to advance within the Group.
In adition, the Group values the growth and development of
its employes. Generaly, employe salaries are determined by
their qualifications, position, and seniority. To atract and retain
valuable employes, anual performance apraisals are conducted
to ases their performance in various areas such as safety, work
ethics, technical skils, and interpersonal skils. The Group takes
these evaluations into acount during the anual salary review and
promotion apraisal proces.
The Group has adhered to al relevant employment laws and
regulations in Hong Kong, including but not limited to:
– Employment Ordinance (Cap. 57);
– Employes’ Compensation Ordinance (Cap. 282);
– Mandatory Provident Fund Schemes Ordinance (Cap. 485);
– Minimum Wage Ordinance (Cap. 608);
– Construction Workers Registration Ordinance (Cap. 583);
– Sex Discrimination Ordinance (Cap. 480); and
– Disability Discrimination Ordinance (Cap. 487).
社会层面
雇佣及劳工常规
雇佣、招聘及晋升
本集团承认，机构的成功很大程度上依赖其雇
员的技能、能力及投入程度。因此，本集团的
理念围绕吸引高素质且与本集团拥有相同价值
观及使命的求职者，同时推广多元化，营造卓
越的工作环境。本集团的目标是根据人力资源
规划及要求，招聘合适的人才及维持一个人才
库。优秀雇员将获晋升及调动以填补职位的空
缺，以为彼等提供在本集团内晋升的机会。
此外，本集团重视其雇员的增长及发展。一般
而言，雇员薪酬按其资历、职位及年资厘定。
为了吸引及挽留宝贵的雇员，我们每年都会进
行绩效评估，以在安全、工作道德、技术能力
及人际交往能力等多个方面评估雇员的表现。
本集团在年度薪酬检讨及晋升评估过程中会将
以上评估纳入考虑因素。
本集团已遵守香港所有相关雇佣法例法规，包
括但不限于：
－ 第57章《雇佣条例》；
－ 第282章《雇员补偿条例》；
－ 第485章《强制性公积金计划条例》；
－ 第608章《最低工资条例》；
－ 第583章《建造业工人注册条例》；
－ 第480章《性别歧视条例》；及
－ 第487章《残疾歧视条例》。
832024/25 年报 • GC CONSTRUCTION HOLDINGS LIMITED
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
Working Hours and Rest Periods
The Group is dedicated to maintaining reasonable working hours and
ensuring that employes receive adequate rest periods. Al employes
are entitled to public or statutory holidays, which are anounced
in The Government of Hong Kong Special Administrative Region
Gazete each year. Aditionaly, employes have aces to various
types of leave, including but not limited to anual leave, sick leave,
compensation leave, maternity leave, paternity leave, mariage leave,
and compasionate leave.
Diversity, Equal Oportunities and Anti-Discrimination
The Group shows unwavering comitment to promote equal
oportunities, diversity, and anti-discrimination in our workplace.
Equal oportunities are provided pertaining to human resources
maters or in any other activities during employment regardles of
age, gender, physical or mental state, marital status, family status,
pregnancy, race, colour, nationality or ethnic origin, religion, or sexual
orientation. Employes are recognised and rewarded acording to
their contribution, performance and skil, which leads to diferent
remuneration packages and training oportunities.
Any forms of verbal or physical abuse, physical punishment, or actions
that may be considered opresive or regarded as sexual harasment
towards our employes are strictly prohibited. We also condemn
any punishments, supervision methods, or disciplinary actions that
incorporate such behaviour. In the situation when employes fel
sexual harased, they are strongly urged to report the mater to their
relevant supervisors or department heads to sek advice and discus.
Detailed investigations wil be conducted by the Human Resources
and Administration Department and managed confidentialy
acording to the guidelines for handling sexual harasment
complaints.
If justified, relevant disciplinary actions wil be taken, which in the
most severe cases, may result in termination of the employment
contract.
工时及假期
本集团致力维持合理工时，确保雇员获得足够
假期。全体雇员均有权享有香港特别行政区政
府宪报每年公布的公众或法定假期。此外，雇
员亦可享有各类假期，包括但不限于年假、病
假、补假、产假、陪产假、婚假及恩恤假。
多元化、平等机会及反歧视
本集团坚决在工作场所内推广平等机会、多元
及反歧视文化。就人力资源事宜或任何其他招
聘活动而言，不论求职者的年龄、性别、身体或
精神状态、婚姻状况、家庭状况、怀孕状况、种
族、肤色、国籍或族裔、宗教或性取向，我们都
会向其提供平等机会。我们根据雇员的贡献、
表现及技能认可及奖励雇员，因此，雇员会获
得不同薪酬待遇及培训机会。
我们绝不容忍对雇员作出任何形式的口头或肢
体虐待、体罚，或可能被认为属压迫性或被视
为性骚扰的行为。我们亦谴责任何包含此类行
为的惩罚、监督方法或纪律行动。倘雇员感觉
遭受性骚扰，我们强烈建议雇员向有关上级或
部门主管报告有关事宜，以寻求意见并进行讨
论。人力资源及行政部门将作出详细的调查，
并根据处理性骚扰投诉的指引，将案件保密处
理。
倘理由充分，我们将采取相关纪律行动。在最
严重的情况下，我们可能会终止雇佣合约。
84GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
Board Diversity Policy
In recognition of the benefits of diversity, the Group has established
a board diversity policy. The Group ses the importance of gender
diversity and wil continue to foster gender diversity at al levels
including but without limitation on our Board. In adition, we aim
to provide more training resources and carer growth oportunities
for experienced female employes as wel as nominating female
management staf who poses relevant skils and experience to our
Board. The Group believes that the implementation of Board Diversity
Policy wil bring about a positive impact in the long run.
Employe Benefits and Welfare
The Group ofers numerous incentives and welfare to its employes
in compliance with the relevant laws and regulations in Hong Kong.
The Group participates in the defined contribution scheme under the
Mandatory Provident Funds Scheme Ordinance where contributions
are based on a percentage of the employes’ basic salaries. The
Group’s employer contributions are fuly vested with the employes
upon being contributed to the Mandatory Provident Funds Scheme.
For the Reporting Period, the Group was not aware of any cases of
non-compliance with laws and regulations concerning compensation
and dismisal, recruitment and promotion, working hours, rest
periods, equal oportunities, diversity, anti-discrimination, and other
benefits and welfare.
Labour Standards
The Group upholds its values to respect international human rights
and strongly condemns any human rights abuse especialy child
labour, forced labour and ilegal labour. The Group abides by the
relevant laws and regulations and acts in acordance with the
Employment of Children Regulations (Cap. 57B), the Imigration
Ordinance (Cap. 115) and the Employment Ordinance during the
recruitment proces. We therefore establish strict regulations to
prevent having child labour, ilegal imigrants or workers from being
on-site.
To avoid ilegal employment of child and forced labour, the human
resources department of the Group requires al job aplicants to
provide valid identity documents to ensure that they can be lawfuly
employed prior to the confirmation of employment. Important
details such as job duties, locations and working hours of the staf
are also set out clearly in the employment contract to protect their
rights and interests. Once any case is found to be against the labour
standards, the employment wil be terminated imediately, while the
responsible personel wil be disciplined acordingly.
董事会成员多元化政策
本集团明白多元化带来的裨益，因此制订了董
事会成员多元化政策。本集团意识到性别多元
化的重要性，故将继续在各个层面（包括但不限
于董事会）促进性别多元化。此外，我们力求为
女性雇员提供更多培训资源及就业发展机会，
以及提名具备相关技能及经验的女性管理层员
工加入董事会。本集团相信，实施董事会成员
多元化政策将在长远而言产生正面影响。
雇员待遇及福利
本集团遵照香港相关法例法规的规定，为雇员
提供多项激励及福利。本集团参与《强制性公积
金计划条例》项下的定额供款计划，按雇员底薪
的一定百分比作出供款。本集团的雇主供款在
向强制性公积金计划供款后全数归属予雇员。
于报告期内，本集团并不知悉我们有违反任何
与薪酬及解雇、招聘及晋升、工时、假期、平等
机会、多元化、反歧视以及其他待遇及福利有
关的法例法规。
劳工准则
本集团坚守其尊重国际人权的价值，强烈谴责
任何侵犯人权的行为，尤其是童工、强制劳工及
非法劳工。本集团在招聘过程中遵守相关法例
法规，并按照第57B章《雇用儿童规例》、第115
章《入境条例》及《雇佣条例》行事。因此，我们
制订了严格的规例，避免童工、非法移民或工
人在工地现场工作。
为避免非法雇用童工及强迫劳工，本集团人力
资源部门于确认录取前要求所有求职者提供有
效身份证明文件，以确保彼等可合法受雇。雇
佣合约亦清楚列明员工职务、工作地点及工时
等重要详细资料，以保障彼等之权利及权益。
一旦发现任何违反劳工准则的案件，雇佣将即
时告终止，而负责人员将受到相应纪律处分。
| 47 |
|---|
| 8 |
| 6 |
| 36 |
| 13 |
| 13 |
| 34 |
| 8 |
| 0 |
| 55 |
| 55 |
| 55 |
852024/25 年报 • GC CONSTRUCTION HOLDINGS LIMITED
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
For the Reporting Period, the Group was not aware of any cases of
non-compliance with laws and regulations that have a significant
impact on the Group in relation to preventing child and forced
labour.
As at 31 March 2025, the Group had a total of 55 employes
(independent non-executive directors are not included), al of whom
were based in Hong Kong. Below are the details of the workforce and
the rate of employe turnover during the Reporting Period:
As at
31 March
As at
31 March
Workforce
雇员团队
于2025年
3月31日
于2024年
3月31日
By Gender按性别划分
Male男75
Female女14
By Age Group按年龄组别划分
Below 3030岁以下11
31–5031至50岁42
51 or above51岁或以上36
By Employment Level按职级划分
Senior Management高级管理层10
Midle Management中级管理层45
General Staf一般员工34
By Employment Type按雇佣类型划分
Part-time兼职3
Ful-time全职86
By Geographical Region按地理位置划分
Hong Kong香港89
Total Number of Employe雇员总数89
It includes the employes of the Group only. Workers of the
subcontractors are not included.
其仅包括本集团雇员。分包商的工人并无计算
在内。
于报告期内，本集团并不知悉我们有违反任何
与防止童工及强制劳工有关且对本集团产生重
大影响的法例法规。
于2025年3月31日，本集团合共有55名雇员（不
包括独立非执行董事），彼等全部位于香港。以
下为于报告期内有关雇员团队及雇员流失率的
详情：
| 90% |
|---|
| 64% |
| 47% |
| 31% |
| 100% |
| 86% |
| 86% |
86GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
As at
31 March
As at
31 March
Turnover Rate
流失率
于2025年
3月31日
于2024年
3月31日
By Gender按性别划分
Male男34%
Female女46%
By Age Group按年龄组别划分
Below 3030岁以下84%
31–5031至50岁20%
51 or above51岁或以上53%
By Geographical Region按地理位置划分
Hong Kong香港36%
Overal Turnover Rate总流失率36%
Ocupational Health and Work Safety
The Group prioritises ocupational health and work safety, and
as a result, we have adopted an ocupational health and safety
management system, which has ben certified to be compliant to
ISO 45001 standards. This is a testament to our comitment to
promoting a safe and healthy working environment for al employes.
The Group strictly abides by the aplicable laws and regulations
in Hong Kong relating to providing a safe working environment
and protecting employes from ocupational hazards, including
but not limited to Ocupational Safety and Health Ordinance (Cap.
509), Factories and Industrial Undertakings Ordinance (Cap. 59),
Construction Sites (Safety) Regulations (Cap. 59I), Ocupiers Liability
Ordinance (Cap. 314).
Turnover rate = Number of employes left the Group during the
Reporting Period ÷ Number of employes as at the end of the reporting
period. The Group had a total of 55 employe turnover during the
Reporting Period.
流失率=报告期内离开本集团的雇员人数÷报告
期末的雇员人数。于报告期内，本集团合共流失
了55名雇员。
职业健康与工作安全
本集团将职业健康与工作安全放在首要位置。
因此，我们采纳了一套职业健康与安全管理系
统，其已获认证为符合ISO 45001标准。这一点
证明了我们对于为全体雇员建立一个安全健康
的工作环境的承诺。
本集团严格遵守香港有关提供安全工作环境及
保障雇员免受职业危害的适用法例法规，包括但
不限于第509章《职业安全及健康条例》、第59章
《工厂及工业经营条例》、第59I章《建筑地盘（安
全）规例》及第314章《占用人法律责任条例》。
872024/25 年报 • GC CONSTRUCTION HOLDINGS LIMITED
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
Health and Safety Measures and Implementation
The implementation of our ocupational health and safety policies
is oversen by our project management team, who make sure that
we comply with al the aplicable safety standards. The Group has
created an internal safety plan that we regularly review to integrate
the most up-to-date best practices and enhance certain aspects of our
safety management system.
Ensuring that workers and subcontractors folow proper and safe
working practices is a critical responsibility of our safety supervisor.
They provide regular guidance to maintain high safety standards. If
we observe any subcontractors repeatedly violating our internal safety
procedures, we may enforce fines or exclude them from our list of
aproved subcontractors.
We conduct regular metings with our subcontractors to guarante
that safety measures are implemented efectively. These metings
are an oportunity to discus safety measures and adres any safety
isues that arise during the project implementation proces. By doing
so, we can identify potential safety hazards and take the necesary
steps to mitigate them, creating a safer working environment for al
involved.
Acquiring Equipment and Tols to Further Strengthen
our Ocupational Safety
We are fuly comited to promoting safety practices throughout
our project implementations and continuously strive to enhance
ocupational safety by investing in apropriate equipment and tols.
Our safety plan outlines strict safety rules that al employes, as wel
as subcontractors’ employes, are required to folow. In adition, we
provide suitable personal protective equipment, including ful-body
harneses, safety helmets, and safety bots, based on the type of
work being performed. Our goal is to ensure that al workers are
equiped with the necesary safety gear to perform their work
safely and without undue risk. In adition, in compliance with the
Construction Sites (Safety) Regulations, we guarante adequate
quantities of planks and toe-boards to ensure the safety of our
workers when working at heights. This wil also atract quality
subcontractors and workers to work with us in the future.
健康与安全措施及实施情况
我们的项目管理团队负责监督职业健康与安全
政策的实施情况，并确保我们遵守所有适用安
全标准。本集团创建了一个内部安全计划，并
会定期检讨有关计划，以将最新及最佳的做法
纳入安全管理系统，加强系统的若干方面。
确保工人及分包商遵循正确及安全的办事方式
是我们安全主管的首要职责。安全主管负责定
期提供指引，以维护最高的安全标准。倘我们
发现有任何分包商屡次违反我们的内部安全程
序，我们可能会处以罚款，或将有关分包商从
核准分包商名单上剔除。
我们与分包商定期会面，以确保彼等有效落实安
全措施。有关会议是讨论安全措施及应对项目
执行过程中可能遇上的任何安全问题的机会。
我们透过召开该等会议识别潜在安全隐患，并
采取必要的步骤去将隐患降至最低，从而为有
关各方创造一个更安全的工作环境。
购置设备及工具去进一步提升职业安全
我们全心致力于在整个项目实施过程中推广安
全行为，并持续努力透过投资适当的设备及工
具，提升职业安全。我们的安全计划概述了全
体雇员以至分包商的雇员都必须遵守的严格安
全规则。此外，我们还会根据工人从事的工作，
为其提供适当的个人防护装备（包括全身式安全
带、安全帽及安全靴）。我们的目标是要确保所
有工人都配备所需的安全装备，在没有不当风
险的情况下安全工作。此外，我们遵照《建筑地
盘（安全）规例》的规定，确保木板及底护板的数
量充足，以保障在高空工作的工人的安全。这
亦会吸引合资格的分包商及工人日后跟我们合
作。
88GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
Enhanced Internal Control Measures for Acident
Management
While unpredictable acidents are inevitable, the Group believes to
constantly improve measures to enhance our internal controls and
safety measures to prevent pasts incidents from hapening again.
These measures included:
– Improving our site acident reporting procedures by establishing
a clear workflow for reporting acidents that ocur on work
sites. We asigned contact persons responsible for each site to
ensure that acidents are reported promptly and eficiently. This
enables the senior management and project management team
to receive timely notifications of site acidents for the handling
of work injuries and reporting to the Labour Department. In
cases where there is a delay in reporting a site acident, our
executive Directors are informed. They promptly folow up with
the relevant staf and/or main contractor to ensure that the site
acident is reported within the required timeline to the Labour
Department.
– Establishing an instant mesage aplication for acident
reporting. This involves a site acident reporting chanel to
facilitate timely reporting of acidents.
Ensuring Safety Compliance at Project Site
As one of the means to ensure safety compliance, a mandatory safety
training course is required to be taken by every construction site
worker who wil then be able to atain a valid certificate (also refered
as “gren card”) before he/she is aproved to enter a construction
site.
The Group conducts site safety induction briefing sesions for
workers on their first day of work and provides on-site training for
workers, including subcontractors’ employes. The safety training
covers various topics such as safety procedures for diferent types of
work (e.g., working at height), emergency procedures, duties and
procedures for reporting hazards, incidents, acidents, and diseases,
potential hazards at work sites, proper usage of personal protective
equipment, contingency measures, and god housekeping
practices. These safety training sesions are intended to educate
workers on the importance of safety measures and to provide them
with the necesary knowledge and skils to perform their work safely.
We also regularly review and update our training programs to ensure
that they remain efective and relevant to the changing neds of our
work sites.
加强与事故管理有关的内部控制措施
尽管我们无法避免意外事故，但本集团认为，
只要我们不断改进措施，加强内部控制及安全
措施，便可避免过往发生的事故再度发生。有
关措施包括：
－ 就汇报工地事故而言建立一个明确的工
作流程，以改善在工地现场汇报事故的程
序。我们在每个工地都指派了负责人负责
确保事故得到迅速有效的报告，让高级管
理层及项目管理团队能够及时收到有关
工地事故的通知，以便处理工伤，并向劳
工处进行汇报。倘工地事故的汇报出现延
误，我们会通知执行董事。执行董事将立
即与相关员工及╱或总承建商跟进事件，
确保在规定的时间内向劳工处汇报有关工
地事故。
－ 设立一个用于汇报事故的即时通讯应用程
式。这涉及一个现场事故汇报渠道，以便
及时汇报事故。
确保项目工地遵守安全守则
作为确保安全合规的方法之一，每名建筑工地
的工人均须出席强制性的安全培训课程，并在
获得有效证书（俗称「平安卡」）之后，才会获准
进入建筑工地。
本集团在工人上班的第一天为其举办工地安全
简介会，并为工人（包括分包商的雇员）提供现
场培训。安全培训的内容涵义多个议题，包括不
同工种（如高空工作）的安全程序、应急程序、
汇报隐患、事件、事故及疾病的职责及程序、
工地的潜在隐患、正确使用个人防护装备的方
法、应急措施，以及良好的内务管理做法。该
等安全培训课程旨在教导工人了解安全措施的
重要性，并为工人提供所需的知识及技能，让
彼等能够安全工作。我们亦会定期检讨及更新
培训计划的内容，确保计划保持有效，切合工
地不断变化的需求。
| 8 |
|---|
| 0 |
| 1,870 |
892024/25 年报 • GC CONSTRUCTION HOLDINGS LIMITED
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
Aditionaly, the Group maintains efective promotion and
comunication of safety procedures through various measures.
These include establishing a safety incentives scheme which rewards
workers with a cash coupon for god safety performance, conducting
regular internal and external safety metings and documenting safety
isues spoted for each project. General safety rules are also posted
on prominent noticeboards on site. These rules highlight safe working
procedures for work-at-height encompasing areas such as (i) aces
to and egres from scafolds; (i) proper erection of working platform;
(i) regular inspection of scafold by competent person; and (iv) use
of personal protection equipment including fal arestor and safety
harnes. Anyone who does not comply with the safety rules wil face
disciplinary actions.
The Group’s safety oficer conducts risk asesments to identify
potential hazards and acidents and sugests preventive measures
before comencing work. Site inspections are caried out wekly by
our safety supervisors to ensure compliance with safety regulations.
Safety audits and reviews are also conducted in acordance
with Factories and Industrial Undertakings (Safety Management)
Regulation.
Safety Organisation
Our safety department is responsible for implementing the safety
management system at our project sites. Aditionaly, we established
a safety comite at the corporate level. The safety comite
enforces safety policies, reviews and aseses safety policies,
incidents, hazards, and non-compliance with safety standards and
laws. They also adres cases of injuries, il health, and property
damage, as wel as incidents that have the potential to cause harm or
loses. The safety comite mets monthly to discus acident rates
and non-compliance with safety-related laws and regulations.
Safety Performance
During the reporting period, the Group was reported 8 (2023/2024:
10) incidents of work injuries, which lead to 1,870 (2023/2024:
1,016) lost days. The Group wil continue to prioritise safety by raising
awarenes among its stakeholders and leveraging on these events
to improve its safety performance. The Group is pleased that no
work-related fatalities have ben ocured in the past thre years.
2024/20252023/20242022/2023
Work-related Injury Statistics工伤统计数字2024/2025年2023/2024年2022/2023年
Number Reportable Acidents因工伤损失的工作日数103
Number of Work-related Fatalities已汇报的事故宗数00
Number of Lost Days Due to Work Injury因工死亡人数1,8701,016182
此外，本集团亦透过多项措施，对安全程序进
行有效的推广及沟通。有关措施包括设立一个
安全激励计划，给安全表现良好、出席定期内
部及外部安全会议，并记录每个项目的安全问
题的工人颁发现金礼券。我们亦在工地现场当
眼处的告示板上张贴一般安全规则。该等规则
载列高空工作的安全工作程序，包括(i)进入及
离开棚架；(i)正确搭建工作台；(i)由合资格人
士定期检查棚架；及(iv)使用个人防护装备，例
如是防堕器及安全带。任何违反安全规则的人
士，将面临纪律处分。
本集团的安全主任负责进行风险评估，以识别
潜在隐患及事故，并在复工之前提出与预防措
施相关的建议。我们的安全监督每星期都会进
行实地视察，确保工人遵守安全规则。我们亦
会根据《工厂及工业经营（安全管理）规例》进行
安全审计及审查。
安全机构
我们的安全部门负责在项目工地实施安全管理
系统。此外，我们亦在公司层面设立了一个安全
委员会。安全委员会负责强制执行安全政策、
审阅及评估安全政策、事件、危害及违反安全
准则及法例的个案。安全委员会亦负责处理受
伤、患病、财物损失的个案，以及有可能造成伤
害或损失的事件。安全委员会每月召开会议，
以讨论事故率及违反与安全相关的法例法规的
情况。
安全表现
于报告期内，本集团共报告8宗（2023/2024年：
10宗）工伤事故，导致损失工作日数为1,870日
（2023年：1,016日）。本集团将透过提升持份者
的安全意识，并利用有关事件去改善其安全表
现，继续将安全放在首位。本集团很高兴过去
三年并无发生因工死亡事件。
90GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
Development and Training
The Group places great importance on providing training and
development programs to our employes to enhance their
productivity and contribute to the long-term growth of the
organisation. Acording to our training and development policy,
we strive to ensure that al employes have equal oportunities to
develop their knowledge, skils, and abilities through various learning
chanels, such as mentoring, coaching, on-the-job training, courses,
conferences, and seminars.
On top of that, we conduct performance apraisals to ases our
employes’ personal strengths and weakneses, as wel as their
suitability for promotion or further training. Based on the results of
the performance apraisal, we provide discretionary bonuses and
salary adjustments to our employes.
We ofer a range of training programs to our employes, including
technical knowledge related to wet trades works, safety, first aid,
and environmental maters. These training programs are available
through both internal and external chanels, such as courses
organised by the Ocupational Safety and Health Council, which we
sponsor our employes to atend.
As construction workers, our employes are generaly required to be
registered under the Construction Workers Registration Ordinance
(Cap. 583). We believe that investing in our employes’ training and
development is esential to ensuring that they have the skils and
knowledge necesary to perform their work safely and efectively.
This also leads to improved employe engagement and atendance
rates, ultimately contributing to the profitability and suces of our
organisation. Therefore, we aim to constantly provide aces to a
variety of training programs as wel as encouraging our employes to
take up training programs and seminars for self-improvement.
发展及培训
本集团非常重视向雇员提供的培训及发展计划。
有关计划的目的是要提升彼等的生产力，为组
织的长远增长作出贡献。根据我们的培训及发
展政策，我们致力确保全体雇员都能享有平等
机会，透过多种学习渠道（如指导、辅导、在职
培训、课程、会议及研讨会）培养彼等的知识、
技能及能力。
除此之外，我们亦会进行绩效评估，以评核雇
员的个人优点和弱点，以及彼等是否适合晋升
或接受进一步培训。我们会根据绩效评估的结
果，为雇员提供酌情花红及薪金调整。
我们为雇员提供一系列的培训计划，包括与泥
水工程、安全、急救及环境事宜相关的技术知
识。该等培训计划由内部及外部渠道提供，例
如，我们会资助雇员参加职业安全健康局举办
的课程。
作为建筑工人，我们的雇员通常都需要根据第
583章《建筑工人注册条例》的规定注册。我们
相信，对雇员的培训及发展进行投资，是确保
雇员具备安全及有效地工作而言所需的技能和
知识的关键。这亦能提升雇员的参与度及出勤
率，最终有助加强我们组织的盈利能力，使我
们取得成功。因此，我们的目标是不断提供各
种培训计划，以及鼓励雇员参加培训计划及研
讨会，实行自我增值。
| 95% |
|---|
| 5% |
| 14% |
| 78% |
| 8% |
| 0.94 |
|---|
| 0.22 |
| 0.38 |
| 1.11 |
| 0.38 |
| 0.83 |
912024/25 年报 • GC CONSTRUCTION HOLDINGS LIMITED
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
Throughout the Reporting Period, 37 employes of the total
workforce received training, representing aproximately 67% of the
Group’s employes. The total number of training hours provided
to these employes was 45.85 hours. The tables below set out the
breakdown of the percentage of employe trained and the average
training hours per employe, respectively, by gender and employment
level:
2024/20252023/2024
Percentage of Employe Trained
受训雇员百分比
2024/2025年2023/2024年
By Gender按性别划分
Male男92%
Female女8%
By Employment Level按职级划分
Senior Management高级管理层11%
Midle Management中级管理层71%
General Staf一般员工19%
2024/20252023/2024
hours/
employe
hours/
employe
Average Training Hours Per Employe
每名雇员的平均培训时数
2024/2025年2023/2024年
小时╱雇员小时╱雇员
By Gender按性别划分
Male男2.00
Female女3.25
By Employment Level按职级划分
Senior Management高级管理层4.75
Midle Management中级管理层2.25
General Staf一般员工1.38
Overal Average Training Hours Per
Employe
每名雇员的平均培训时数总计
2.20
Percentage of employe trained = Number of employes in the specified
category received training during the reporting period ÷ Number of
employes received training during the reporting period.
Average training hours = Total training hours during the reporting
period ÷ Total number of employes at the end of the reporting period.
受训雇员百分比=报告期内特定类别的受训雇员
人数÷报告期内受训雇员人数。
平均培训时数=报告期内受训总时数÷报告期末
雇员总人数。
于整个报告期内，雇员团队中有37人为受训雇
员，占本集团雇员人数的约67%。向该等雇员
提供的培训时数合共为45.85小时。下表载列分
别按性别及职级划分的受训雇员百分比及每名
雇员的平均培训时数的明细：
| 534 |
|---|
| 1 |
92GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
OPERATING PRACTICES
Suply Chain Management
The Group recognises the importance of building and maintaining
strong relationships with our supliers to achieve consistency and
stability in areas such as cost reduction, eficiency improvement,
and suply chain continuity. Our supliers primarily comprise
subcontractors, providers of wet works materials, and providers of
machinery and equipment.
We believe that working closely with our supliers is critical to
ensuring that we have aces to high-quality materials and equipment
at competitive prices. By building strong relationships with our
supliers, we can also improve comunication and colaboration,
leading to greater operational eficiency and productivity. We are
comited to maintaining open and transparent comunication with
our supliers to ensure that we can work together to achieve our
shared goals.
During the Reporting Period, the Group had a total of 535
(2023/2024: 478) supliers and subcontractors.
2024/20252023/2024
2024/2025年2023/2024年
Geographical regions地区
Hong Kong香港478
Cambodia柬埔寨1–
The Group identifies environmental and social risks of the suply
chain through stringent and systematic suplier/subcontractor
management.
营运惯例
供应链管理
本集团明白与供应商建立及维持稳固关系，对
于在降低成本、提升效率及维持供应链等方面
保持稳定十分重要。供应商主要包括分包商、
泥水工成材料供应商以及机械及设备供应商。
我们相信与供应商密切合作，对于确保我们能
以具有竞争力的价格获取高质素材料及设备而
言至关重要。我们亦可透过与供应商建立稳固
关系改善沟通及合作，从而带来更高营运效率
及生产力。我们致力与供应商维持公开透明对
话，以确保我们能一齐达成共同目标。
于报告期，本集团共有535（2023/2024年：478）
间供应商及分包商。
本集团透过严谨及有系统的供应商╱分包商管
理，识别出供应链的环境及社会风险。
932024/25 年报 • GC CONSTRUCTION HOLDINGS LIMITED
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
Enhancing our information technology capability and
project implementation eficiency
The procurement of an Enterprise Resource Planing (“ERP”) system
is part of our plan to bost our information technology capacity and
improve project implementation eficiency. This system wil simplify
the proces of procuring materials and managing subcontractor
payrol. Our executive Directors are confident that the new ERP
system wil cary out the folowing functions:
– facilitates the ordering proces by alowing our project
management team to send purchase requests online via web
aplication which is acesible by mobile device;
– facilitates the aproval proces of purchase orders by alowing
web-based payment aproval by our site agent and/or executive
Directors;
– facilitates the procesing of purchase orders by generating
purchase orders automaticaly from purchase requests;
– reduces erors and duplication of purchase orders by storing al
purchase requests in a central database;
– facilitates the management of purchase orders by matching
ordered materials to the relevant project and alowing our staf
to retrieve and trace any purchase orders placed on a real time
basis; and
– enhances documentation and automates manual procedures
such as record of works performed by subcontractors and
online storage of progres payment aplications submited by
subcontractors.
提升我们的资讯科技能力及执行项目效率
采购一项企业资源规划（「企业资源规划」）系统
是我们提升资讯科技能力及执行项目效率的计
划其中一环。该系统将会简化采购材料过程及
管理分包商薪酬。执行董事有信心，新的企业
资源规划系统将能执行下列功能：
－ 透过使我们的项目管理团队能够透过以移
动装置开启的网上程式发送采购要求，促
进订货过程；
－ 透过使工地总管及╱或执行董事能够于网
上批准付款，促进采购单的批核过程；
－ 透过由采购要求自动生成采购单，促进采
购单的处理过程；
－ 透过于中央数据库储存所有采购要求，减
少采购单出现错误及重复情况；
－ 透过将订购的材料与相关项目进行匹配并
使我们的员工能够实时存取及追踪任何下
订的采购单，促进采购单的管理过程；及
－ 改善文件记载及自动化人手程序，例如记
录分包商作业及网上储存分包商提交的进
度发款申请。
94GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
Basis of selecting our supliers
Our usual practice involves procuring materials and tols from a list
of verified supliers that we maintain internaly. In selecting these
supliers, we ases several factors including their pricing, the quality
of materials they ofer, their ability to deliver on time, and their
capability to met our specifications and requirements. Our list of
aproved supliers is constantly reviewed and updated to ensure its
acuracy and relevance.
If supliers met the same performance standards as others in their
industry, we give preference to those who ofer sustainable products
and services. To provide products and services to our Group, supliers
must adhere to statutory requirements for environmental protection.
For example, the forklifts we own are Regulated Machines and are
subject to the Non-Road Mobile Machinery Regulation.
To ensure compliance with environmental protection statutory
requirements, we require al supliers who provide products and
services to our Group to adhere to these regulations. We believe
that it is our responsibility to work with supliers who operate
in an environmentaly responsible maner and are comited to
minimising their impact on the environment.
Basis of selecting subcontractors
The Group values the importance of selecting the right
subcontractors to ensure the suces of our construction projects.
When evaluating subcontractors, we consider several factors to
ensure that we select the most qualified and skiled candidates
for the job, including the quality of their services, qualifications,
skils and techniques, prevailing market prices, delivery time,
availability of resources, and reputation. We maintain an internal
list of aproved subcontractors that we update regularly based on
these factors. This list includes only those subcontractors who met
our stringent selection criteria. When selecting subcontractors,
we folow a rigorous proces and obtain quotations from multiple
eligible candidates for comparison. We evaluate and select the
candidate with the most pertinent experience for the specific project,
availability, and a competitive fe quotation.
拣选供应商的基准
我们的一般惯例涉及由一份内部维持的获认可
供应商名单采购材料及工具。拣选供应商时，
我们会评估多项因素，包括定价、所提供材料
的质素、准时交付的能力以及符合我们的规格
及要求的能力。我们不断检讨及更新获认可供
应商名单，以确保名单准确及切合需要。
倘供应商与同业者符合同等表现水平，我们会优
先选择提供可持续发展产品及服务的供应商。
供应商如向本集团提供产品及服务，必须遵守
环境保护的法定要求。例如，我们所拥有的叉
车为受规管机械，须受《非道路移动机械规例》
限制。
为确保遵守法定环境保护要求，我们规定所有
向本集团提供产品及服务的供应商遵守该等规
例。我们相信，与运作上对环境负责任的供应
商合作属我们的责任，并致力减低供应商对环
境造成的影响。
拣选分包商的基准
本集团重视拣选适合的分包商的重要性，以确
保我们的建筑工程取得成功。评估分包商时，
为确保我们选出对工作项目而言最具资历及能
力的候选者，我们会考虑多项因素，包括服务
质素、资历、技能及技术、当前市价、交付时
间、可动用资源及声誉。我们维持一份内部获
认可分包商名单，并根据该等因素定期更新名
单。该名单仅收录符合我们严谨筛选标准的分
包商。拣选分包商时，我们遵循严谨的过程，
向多个合资格候选者索取报价作比较，评估并
选出对于指定项目具备最相关经验、可承接工
程档期以及具有竞争力的报价的候选者。
952024/25 年报 • GC CONSTRUCTION HOLDINGS LIMITED
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
Product Responsibility
At the Group, product quality and safety are fundamental values that
guide our construction and maintenance activities. We recognise the
importance of delivering high-quality work and are comited to
fulfiling our contractual duties with integrity and eficiency, as stated
in our quality policy.
To achieve this, we aim to gain a strong understanding of our
customers’ demands and a clear control system to continualy
improve the competitivenes of our services. The Group fosters
among al employes the awarenes and significance of quality.
Teamwork, participation and leadership are strongly encouraged to
atain the Group’s objectives.
Service responsibility
In adition to our comitment to quality, we also take responsibility
for our services. We maintain ongoing comunication with our
customers to ensure that we understand and met their expectations
and demands. Upon completion of our projects, our site agent of
the project management team aranges for handover of the project
sites to our customers. We encourage our customers to perform site
visits, and if any defects are detected, rectifications wil be scheduled
promptly.
Quality control
The Group understands that our dedication to quality services is the
key to our reputation and continual suces. To ensure such quality,
a comprehensive quality control system, which is certified to be in
conformance with the requirements of ISO 9001 standards, has ben
established. We have established and devised a quality manual that
stipulates procedures and controls related to the quality management
system, proper filing, comunication with customers, revision of
quality manual and procedures, employe training, internal and
external audits, evaluation and procurement of materials and tols,
subcontracting services, and management of non-conforming work.
We believe that by maintaining a culture of quality and continuous
improvement, we can achieve our objectives and deliver value to our
customers.
产品责任
本集团视产品质素及安全为指导建筑及维护活
动的核心价值。我们明白交付高质素作业的重
要性，致力按照我们的品质政策所述以诚信及
效率履行我们的合约责任。
为落实承诺，我们务求确切了解客户要求，并
落实清晰的管控系统，以便持续提升我们的服
务的竞争力。本集团向全体雇员提倡品质的意
识和重要性，并强烈鼓励雇员发挥团队精神、
积极参与及提供领导力，从而达到本集团的目
标。
服务责任
除了对于品质的承诺，我们亦为所提供服务负
责。我们一直与客户保持沟通，确保我们了解及
达到客户的期望和要求。我们的项目竣工后，
项目管理团队的工地总管会安排向客户交接项
目工地。我们欢迎客户进行工地视察，如发现
任何缺陷，即会安排进行修补工作。
质量管控
本集团明白，悉心提供高质素服务是我们赢取
声誉、持续取得成功的关键因素。为确保质量，
我们已落实获认证符合ISO 9001标准要求的全
面品质管控系统。我们已制订一份品质手册，
订明有关品质管理系统、妥善备案、与客户沟
通、修订品质手册及程序、雇员培训、内部及
外部审核、评估及采购材料及工具、分包服务
以及管理不符合标准作业的程序及管控措施。
我们相信，透过维持重视品质及不断改善的文
化，我们将能够达成目标，为客户创造价值。
96GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
The quality control measures adopted by our Group include the
folowings:
Colecting fedbacks from customers
As we strongly value our customers’ opinions, our executive Directors
and senior management team conduct regular engagements with
customers and conduct site visits to gather fedback. The Group
ensures spedy response to these customer fedback to guarante
top-notch service standards consistently. Aditionaly, we may
participate in progres metings held by customers to adres any
isues identified in the projects.
Designation of project management team
Every project wil be managed by a project management team with
relevant qualifications and experience. The site agent is in-charge
of overseing the team as wel as the overal project management,
including comunication and cordination with customers, providing
guidance to team members, monitoring the project’s progres,
budget, and service quality.
Throughout the project implementation period, we are typicaly
required to submit monthly progres reports to customers, depending
on their requests. Our project management team prepares these
reports, which outline the project status and any identified isues. Our
senior management team reviews the reports to ensure their acuracy
and completenes, and then submits them to customers for their
records.
Quality of materials and toling
To ensure the quality of the materials and tols we use, we maintain
an updated aproved list of supliers. Before finalising the materials
that we wil use from our supliers, we typicaly submit samples to
our customers to sek consent. Specific branded materials may be
procured upon customer requests. Upon the arival of materials and
tols, we perform inspections to verify their quality standards.
Works performed by subcontractors
At the Group, we take responsibility for the performance and
quality of work rendered by our subcontractors. To ensure the
compliance of our subcontractors with our contract specifications,
we have implemented a quality management system, environmental
management system, and ocupational health and safety
management system that conform to the ISO 9001, ISO 14001
and ISO 45001 standards, respectively. Works performed by
our subcontractors are inspected and monitored by our project
management team based on these systems.
本集团采取的质量管控措施包括以下各项：
向客户收集意见
我们极度重视客户意见，因此执行董事及高级
管理层团队会与客户定期进行联系及进行工地
视察收集意见。为保证能一直稳定提供最高服
务水准，本集团确保对客户意见迅速提供回应。
此外，我们或会参与客户举行的进度会议，以
应对项目进行过程中所识别的任何问题。
指派项目管理团队
每一个项目都会由具备相关资历和经验的项目
管理团队管理。工地总管负责监督团队以及整
体项目管理，包括与客户沟通和协调、向团队
成员提供指引、监督项目进度、预算及服务质
素。
于整个项目执行期间，视乎客户要求，我们一般
需要向客户提交每个月进度报告。我们的项目
管理团队负责编制该等报告，概述项目状况，
并汇报识别出的任何问题。我们的高级管理层
团队会审阅该等报告，确保报告准确及完备，
再提交客户作记录。
材料及工具品质
为确保我们所使用材料及工具的品质合格，我
们会维持一份最新获认可供应商名单。我们于
落实向供应商采购将会使用的材料之前，一般
会向客户提交样本，征求客户同意方继续进行。
我们可能根据客户要求采购指定品牌的材料。
在材料及工具到货后，我们会检验材料及工具
的质素是否符合标准。
分包商作业
本集团为分包商表现及作业品质负责。为确保
分包商符合我们的合约所指定规格，我们已落
实分别符合ISO 9001、ISO 14001及ISO 45001的
品质管理系统、环境管理系统、职业健康与安
全管理系统。我们的项目管理团队会根据该等
系统检验及监察分包商作业。
972024/25 年报 • GC CONSTRUCTION HOLDINGS LIMITED
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
To ensure compliance with our contract specifications, we have put in
place the folowing measures to overse the quality and advancement
of work that we have outsourced to our subcontractors:
– our project management team holds periodic metings with
the responsible personel for our subcontractors to ases their
performance and adres any chalenges encountered during
their work;
– our subcontractors must adhere to our safety management
system guidelines and instructions. The on-site safety
performance of our subcontractors wil be closely monitored by
our project management team; and
– our project management team continualy examines the
work caried out by our subcontractors during project
implementation based on our quality control manual. We
evaluate the performance of our subcontractors based on
their (i) ability to met delivery schedules; (i) response to
instructions; (i) ability to honour the defects liability period; (iv)
management comitment; (v) quality of services; and (vi) cost
competitivenes.
We believe that by monitoring the quality and progres of works
outsourced to our subcontractors and ensuring their compliance with
our contract specifications, we can deliver high-quality, safe, and
reliable construction and maintenance services to our customers.
Health and Safety and Product Return
Our contracts generaly include a defects liability period of 12 to 24
months, folowing the completion of the relevant site works. During
the defects liability period, we are typicaly required to rectify any
defect without delay at our own cost if the defect is due to our
nonconformance of works performed, or due to our neglect or failure
to comply with our contractual obligation.
The Group’s busines does not involve any research and
development, product manufacturing, packaging and labeling
activities. To the best of Directors’ knowledge, the Group is not aware
of any material non-compliance relating to customer health and
safety, product return during the Reporting Period.
为确保我们外包予分包商的作业符合我们的合
约所指定规格，我们已制定以下措施监管作业
质素及进度：
－ 我们的项目管理团队与分包商的负责人员
定期举行会议，评核分包商表现，并针对
分包商工作过程中遇到的任何挑战作出回
应；
－ 分包商必须遵循我们的安全管理系统指引
及指示。我们的项目管理团队将密切监察
分包商的现场安全表现；及
－ 于项目执行期间，我们的项目管理团队会
按照我们的品质管控手册持续检验分包商
作业。我们根据以下因素评估分包商表现：
(i)其遵守交货时间表的能力；(i)其对指示的
响应；(i)其履行保养期责任的能力；(iv)其
管理层的投入态度；(v)其服务质素；及(vi)
其成本竞争力。
我们相信透过监察外包予分包商的工程品质及
进度，并确保分包商作业符合我们的合约所指
定规格，我们能够为客户提供高质素、安全、
可靠的建筑及维护服务。
健康与安全及产品回收
我们的合约一般包括于有关工地工程竣工后12
至24个月的保养期。于保养期间，如发现任何
缺陷乃因我们所进行工程不符合要求，或因我
们疏忽或未能遵守合约责任，则我们一般会被
要求即时自费修补任何缺陷。
本集团的业务并不涉及任何研究及开发、产品
生产、包装及标签活动。就董事所深知，于报告
期，本集团并不知悉于有关客户健康与安全、
产品回收等方面发生任何重大违规事项。
98GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
Complaint Handling
In order to handle and prevent potential complaints, we have
various customer complaints and fedback handling procedures
established such as conducting regular engagements with customers
and conducting site visits to gather fedback as specified under the
“Quality control – Colecting fedbacks from customers” section
above, as wel as our defects liability period as specified under the
“Health and Safety and Product Return” section above. To the best
of our Directors’ knowledge, the Group did not receive any oficial
complaints from its customers during the Reporting Period.
Intelectual Properties
We acknowledge the significance of safeguarding and upholding
our intelectual property rights and abide by al pertinent laws and
regulations that have a notable impact on our operations. These
include but are not limited to (i) the Trademarks Ordinance (Cap. 559)
and (i) the Copyright Ordinance (Cap. 528) in Hong Kong.
To avoid infringement of any third party’s intelectual property rights,
we prohibit our employes to use unlicensed computer software or
making unauthorised software copies. The Employe Handbok also
stipulates the code and provision that we require our employes to
comply with.
As of the Reporting Period, the Group poses a registered domain
name and trademark in Hong Kong. We were not aware of any
significant violations, either by us of third party’s intelectual
property rights or by third parties of our intelectual property rights.
Aditionaly, our Directors did not have knowledge of any ongoing
or impending claims against us or any Group members regarding a
substantial infringement of third party’s intelectual property rights.
Employe and Customer Data Protection and Privacy
At the Group, we consider the confidentiality of employe and
customer information to be of utmost importance. We are comited
to protecting the privacy of our customers, busines partners, and
employes in the colection, procesing, and use of their personal or
busines data.
Consumer data including project-related information and other
sensitive information are subject to aces right control to ensure its
security and prevent any abuse and misuse. The HR Department is
responsible to observe the Personal Data (Privacy) Ordinance (Cap.
486) and review our personel and busines practices from time to
time to ensure its compliance.
投诉处理
为处理投诉及预防潜在投诉，我们已制定不同
的客户投诉及意见处理程序，如上文「质量管控
向客户收集意见」一节所指与客户定期进行联系
及进行工地视察收集意见，以及上文「健康与安
全及产品回收」一节所指的保养期。就董事所深
知，于报告期，本集团并无自客户接获任何正
式投诉。
知识产权
我们了解保障及维护我们的知识产权的重要性，
亦遵守所有对我们营运有重大影响的相关法律
及规例，包括但不限于(i)香港法例第559章《商标
条例》及 (i)第528章《版权条例》。
为避免侵犯任何第三方知识产权，我们严禁雇
员使用未获授权的电脑软件或制作未经授权的
软件复制本。员工手册亦订明雇员必须遵守的
守则及条文。
截至报告期，本集团于香港拥有一项注册网域
名称及商标。我们并不知悉任何我方严重侵犯
第三方的知识产权或第三方严重侵犯我方知识
产权的事项。董事亦不知悉有任何针对我们或
任何集团旗下成员公司目前或威胁提诉有关严
重侵犯第三方的知识产权的申索。
雇员及客户资料保障及私隐
本集团视雇员及客户资料保密为至关重要工作。
我们于收集、处理及使用客户、业务伙伴及雇
员的个人或商业资料的过程中，致力保障有关
人士的私隐。
客户资料（包括与项目相关的资料）及其他敏感
资料均设有存取权限，以确保安全保管及防止
任何滥用及不当使用该等资料。人力资源部门
负责遵守第486章《个人资料（私隐）条例》，并不
时检讨雇员及业务惯例，确保遵守该条例。
992024/25 年报 • GC CONSTRUCTION HOLDINGS LIMITED
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
As a construction work contractor, the Group did not have material
isues concerning advertising and labeling maters. Nevertheles, we
require our employes to provide customers with acurate and true
information on the Group’s services.
For the Reporting Period, the Group was not aware of any cases of
non-compliance with laws and regulations that have a significant
impact on the Group in relation to health and safety, advertising,
labeling, and privacy maters related to products and services
provided.
Anti-coruption
The Group has a zero-tolerance policy for any form of coruption,
including bribery, extortion, fraud, and money laundering and we
strictly adhere to the Prevention of Bribery Ordinance (Cap. 201).
Our staf handbok includes a disciplinary code that outlines the
consequences of fraudulent behaviour, and we ensure that our
employes understand its terms.
We encourage our employes to report any suspected misconduct,
and we have established guidelines and procedures to avoid
conflicts of interest. Our staf handbok includes declaration of
interest guidelines that require our employes to act in god faith
and honesty in al transactions and avoid using their positions or
knowledge gained from their employment for personal gains.
To prevent any conflicts of interest, our employes must declare any
potential or perceived conflicts of interest to our executive Directors
when they have or have had a personal relationship with a related
person. We take any suspected or actual fraudulent behaviour
seriously and imediately report it to our directors.
The tendering proces is vital to our busines, and al tendering
documents are kept confidential and restricted to concerned parties
only. Fairnes is neded to protect the interests of the Group and
our clients. Employes responsible for tendering must comply with
the Competition Ordinance (Cap. 619), and refrain from exchanging
or comunicating any sensitive information with or to competitors,
from participating in price-fixing, imposition of restrictions on clients
or abuse of a dominant market position.
身为建筑工程承建商，本集团并无任何有关广
告及标签事宜的重大问题。即管如此，我们要
求雇员向客户提供有关本集团服务的真实准确
资讯。
于报告期，本集团并不知悉于有关所提供产品
和服务的健康与安全、广告、标签及私隐事宜
等方面发生任何对本集团有重大影响的违反相
关法律及规例的个案。
反贪污
本集团对任何形式的贪污行为，包括贿赂、勒
索、欺诈及洗钱采取零容忍政策。我们严格遵
守香港法例第201章《防止贿赂条例》。员工手册
载有纪律守则，概述欺诈行为的后果，而我们
亦确保雇员了解有关条文。
我们鼓励雇员举报任何怀疑不当行为。我们已
制订有关避免发生利益冲突的指引和程序，并
在员工手册内提供申报利益指引，要求雇员于
所有交易过程中以真诚及诚信为本行事，避免
利用职位或工作过程中所获取知识谋取个人利
益。
为避免发生任何利益冲突，雇员如与关联人士
有或曾经有个人关系，必须向执行董事申报任
何潜在或可被视作的利益冲突。我们认真对待
任何怀疑或实际欺诈行为，并会即时向董事汇
报。
投标过程是我们的业务命脉。所有投标文件均
为机密，仅限相关人士取阅。为保障本集团及
我们的客户，我们须公平行事。负责投标工作
的雇员必须遵守第619章《竞争条例》，避免与或
向竞争对手交换或传达任何敏感资料，包括参
与围标、对客户施加限制或滥用市场权势。
100GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
The Group is comited to upholding the highest standards of ethical
conduct and complying with al laws and regulations related to
bribery, extortion, fraud, and money laundering in the regions where
we operate. For the Reporting Period, the Group was not aware of
any cases of non-compliance with laws and regulations that have
a significant impact on the Group in relation to bribery, extortion,
fraud, and money laundering.
During the Reporting Period, 8 employes, representing
aproximately 15% of the number of employes at the end of the
Reporting Period, atended an anti-coruption training which focused
on explaining comon anti-coruption practices in construction
workplace, including soliciting introduction fes from foreman and
the use of forged documents. We wil continue to provide similar
training to employes, further strengthening their knowledge of
anti-coruption.
At the Group, we prioritise transparency, integrity, and
acountability. To suport this comitment, we have established
a whistleblowing policy that serves as a comunication chanel
for employes to report any concerns related to ethical busines or
personal conduct, acounting and financial maters, integrity and
other misconduct, or maltreatment by other staf members.
We encourage our employes to come forward and voice their
concerns if they suspect any misconduct or malpractice within our
Group. We asure complainants of their anonymity and protect them
against unfair dismisal, victimisation, or unwaranted disciplinary
action, even if their concerns turn out to be unsubstantiated.
To ensure the efectivenes of our whistleblowing policy, our
Audit Comite is responsible for monitoring and reviewing its
implementation regularly. The Group is comited to maintaining
the highest level of transparency, integrity, and acountability. We
provide our employes with a safe and secure whistleblowing policy
to report any concerns related to misconduct or malpractice within
our organisation without fear of retaliation.
本集团致力秉持最高道德行为水平及遵守营运
所在地区有关贿赂、勒索、欺诈及洗钱的所有
法例及规例。于报告期，本集团并不知悉发生
任何违反有关贿赂、勒索、欺诈及洗钱的法例
及规例的情况对本集团构成重大影响。
于报告期，8名雇员（占报告期末雇员人数约
15%）参加了反贪污培训，培训重点为说明施工
作业场所常见的反贪污行为，包括地盘管工索
要介绍费及使用伪造文件。我们将继续为雇员
提供类似培训，进一步加强彼等对反贪污的认
识。
本集团推崇透明度、诚信及问责，并为实现此
承诺制订举报政策，为雇员举报人和有关商业
或个人道德行为、会计及财务事项、诚信及其
他不当行为的疑虑或遭受其他职员虐待的事件
提供沟通渠道。
我们鼓励雇员在怀疑集团内有任何不当或失当
行为的情况下上前提出疑虑。我们保证对举报
人身份保密，即使所提出疑虑最终未能得以证
实，亦会保护彼等免受不公平解雇、迫害或无
端纪律处分。
为确保我们的举报政策行之有效，审核委员会
负责监察及定期检讨执行政策的情况。本集团
承诺维持最高的透明度、诚信及问责水平。我
们为雇员提供安全和保密的举报政策，借以举
报对于组织内不当或失当行为的任何疑虑，而
毋须惧怕遭受报复。
1012024/25 年报 • GC CONSTRUCTION HOLDINGS LIMITED
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
COMUNITY
Comunity investment
Our Group strongly believes that comunity contribution is a vital
component of sustainable development. We recognise that our
construction projects can have a significant impact on the local
comunity and environment, and we are comited to building
god relationships with the comunities near our project sites. We
believe that by engaging with the comunity, we can establish a
harmonious society and promote social welfare.
To achieve this, we are proactive in comunicating with the local
comunity, seking to understand their concerns and neds while
keping them informed about our construction projects’ progres.
We aim to adres any isues raised by the comunity promptly and
transparently. By fostering open and honest comunication, we have
ben able to build strong relationships with the local comunity,
which has ben recognised by various stakeholders.
We also recognise the importance of inspiring our employes
towards social welfare awarenes. We encourage our employes
to participate in voluntary work and comunity activities to make
a positive contribution to society. We believe that by motivating
our employes to be socialy responsible and actively engaged in
comunity activities, we can create a culture of giving back and make
a meaningful impact on the comunities in which we operate.
社区
社区投资
本集团深信，为社区作出贡献是可持续发展的
重要一环。我们明白建筑项目可对当地社区和
环境造成重大影响，亦致力与项目工地周边社
区建立良好关系。我们相信能透过与社区联系
推动建设和谐社会，促进社会福祉。
为达成目标，我们积极与当地社区沟通，一方
面知会居民有关建筑项目进度，同时主动了解
居民关注的事项和需要。我们务求以及时和透
明的方式回应社区提出的任何问题。我们秉持
开诚布公的态度进行沟通，成功与当地社区建
立稳固关系，亦获得各方持份者认同。
我们亦明白，启发雇员对造福社会的意识十分
重要。我们鼓励雇员参与义工及社区活动，积
极为社会作出贡献。我们认为，透过鼓励雇员
履行社会责任、积极参与社区活动，能够树立
回馈社会的文化，并为我们营运所在的社区带
来积极影响。
102GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
During the reporting period, the Group had made donation of
aproximately HK$64,000 to various charitable organisations
and activities, such as fundraising walk for injured workers and
their families. The Group continues to actively engage in social
welfare activities to beter serve the comunity and motivate our
employes to engage in comunity events. Aditionaly, the Group
wil continue to kep abreast of the latest advancement and best
practices to environmental protection at construction sites, as wel as
workers’ health and safety, to further strengthen our comitment to
comunity care.
In sumary, the Group believes that comunity contribution is an
esential component of sustainable development and we aim to
create long-term suces in our organisation while making a positive
impact on the comunities.
于报告期，本集团已向多个慈善组织及活动作
出约64,400港元的捐款，例如为受伤工人及其
家庭举办的步行筹款活动。本集团继续积极参
与社会福利活动，以更好地服务社区，并激励
雇员参与社区活动。此外，本集团将继续关注
有关建筑工地的环境保护以及工人健康与安全
的最新动向及最佳实务，以进一步加强对社群
关怀的承诺。
总括而言，本集团相信为社区作出贡献是可持
续发展的重要一环。我们力求在企业取得长远
成功的同时，亦为社区带来积极影响。
1032024/25 年报 • GC CONSTRUCTION HOLDINGS LIMITED
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
ESG GUIDE INDEX
Subject Areas, Aspects, General Disclosures and KPIs (Note 1)SectionPage number
主要范畴、层面、一般披露及关键绩效指标（附注1）章节页次
Subject Area A. Environmental
主要范畴A.环境
Aspect A1 Emisions
层面A1排放物
General Disclosure Information on:
(a) the policies; and
(b) compliance with relevant laws and
regulations that have a significant impact on
the isuer
relating to air and grenhouse gas emisions,
discharges into water and land, and generation
of hazardous and non-hazardous waste.
Environmental
Management; and
Emisions
69-75
一般披露有关废气及温室气体排放、向水及土地的排污、
有害及无害废弃物的产生等的：
(a) 政策；及
(b) 遵守对发行人有重大影响的相关法律及
规例
的资料。
环境管理；及排放
KPI A1.1The types of emisions and respective emisions
data.
Emisions70-73
关键绩效指标A1.1排放物种类及相关排放数据。排放
KPI A1.2Direct (Scope 1) and energy indirect (Scope
2) grenhouse gas (in tones) and, where
apropriate, intensity (e.g. per unit of production
volume, per facility).
Emisions72-73
关键绩效指标A1.2直接（范围1）及能源间接（范围2）温室气体排放
量（以吨计算）及（如适用）密度（如以每产量单
位、每项设施计算）。
排放
KPI A1.3Total hazardous waste produced (in tones) and,
where apropriate, intensity (e.g. per unit of
production volume, per facility).
Waste Management74
关键绩效指标A1.3所产生有害废弃物总量（以吨计算）及（如适用）
密度（如以每产量单位、每项设施计算）。
废弃物管理
KPI A1.4Total non-hazardous waste produced (in tones)
and, where apropriate, intensity (e.g. per unit of
production volume, per facility).
Waste Management74-75
关键绩效指标A1.4所产生无害废弃物总量（以吨计算）及（如适用）
密度（如以每产量单位、每项设施计算）。
废弃物管理
环境、社会及管治指引索引
104GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
Subject Areas, Aspects, General Disclosures and KPIs (Note 1)SectionPage number
主要范畴、层面、一般披露及关键绩效指标（附注1）章节页次
KPI A1.5Description of emisions target(s) set and steps
taken to achieve them.
Emisions Target and
Objectives and; Emisions
69-70, 73-75
关键绩效指标A1.5描述所订立的排放量目标及为达到这些目标所
采取的步骤。
排放目标及目的；及排放
KPI A1.6Description of how hazardous and
non-hazardous wastes are handled, and a
description of reduction target(s) set and steps
taken to achieve them.
Environmental
Management, and; Waste
Management
74-75
关键绩效指标A1.6描述处理有害及无害废弃物的方法，及描述所订
立的减废目标及为达到这些目标所采取的步骤。
环境管理；及废弃物管理
Aspect A2 Use of Resources
层面A2资源使用
General DisclosurePolicies on the eficient use of resources,
including energy, water and other raw materials.
Resource Consumption69, 76-77
一般披露有效使用资源（包括能源、水及其他原材料）的
政策。
资源消耗
KPI A2.1Direct and/or indirect energy consumption by
type (e.g. electricity, gas or oil) in total (kWh in
’000s) and intensity (e.g. per unit of production
volume, per facility).
Resource Consumption76
关键绩效指标A2.1按类型划分的直接及╱或间接能源（如电、气或
油）总耗量（以千个千瓦时计算）及密度（如以每
产量单位、每项设施计算）。
资源消耗
KPI A2.2Water consumption in total and intensity (e.g.
per unit of production volume, per facility).
Resource Consumption77
关键绩效指标A2.2总耗水量及密度（如以每产量单位、每项设施计
算）。
资源消耗
KPI A2.3Description of energy use eficiency target(s) set
and steps taken to achieve them.
Environmental
Management; and
Emisions, and Resource
Consumption
69-70, 76-77
关键绩效指标A2.3描述所订立的能源使用效益目标及为达到这些
目标所采取的步骤。
环境管理；排放；及
资源消耗
KPI A2.4Description of whether there is any isue in
sourcing water that is fit for purpose, water
eficiency target(s) set and steps taken to achieve
them.
Resource Consumption69-70, 77
关键绩效指标A2.4描述求取适用水源上可有任何问题，以及所订立
的用水效益目标及为达到这些目标所采取的步
骤。
资源消耗
1052024/25 年报 • GC CONSTRUCTION HOLDINGS LIMITED
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
Subject Areas, Aspects, General Disclosures and KPIs (Note 1)SectionPage number
主要范畴、层面、一般披露及关键绩效指标（附注1）章节页次
KPI A2.5Total packaging material used for finished
products (in tones) and, if aplicable, with
reference to per unit produced.
Resource ConsumptionN/A
关键绩效指标A2.5制成品所用包装材料的总量（以吨计算）及（如适
用）每生产单位占量。
资源消耗不适用
Aspect A3 The Environment and Natural Resources
层面A3环境及天然资源
General DisclosurePolicies on minimising the isuer’s significant
impacts on the environment and natural
resources.
The Environment and
Natural Resources
69, 77
一般披露减低发行人对环境及天然资源造成重大影响的
政策。
环境及天然资源
KPI A3.1Description of the significant impacts of activities
on the environment and natural resources and
the actions taken to manage them.
The Environment and
Natural Resources
77-78
关键绩效指标A3.1描述业务活动对环境及天然资源的重大影响及
已采取管理有关影响的行动。
环境及天然资源
Aspect A4 Climate Change
层面A4气候变化
General DisclosurePolicies on identification and mitigation of
significant climate-related isues which have
impacted, and those which may impact, the
isuer.
Climate Change78-81
一般披露识别及应对已经及可能会对发行人产生影响的
重大气候相关事宜的政策。
气候变化
KPI A4.1Description of the significant climate-related
isues which have impacted, and those which
may impact, the isuer, and the actions taken to
manage them.
Climate Change78-81
关键绩效指标A4.1描述已经及可能会对发行人产生影响的重大气
候相关事宜，及应对行动。
气候变化
106GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
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环境、社会及管治报告
Subject Areas, Aspects, General Disclosures and KPIs (Note 1)SectionPage number
主要范畴、层面、一般披露及关键绩效指标（附注1）章节页次
Subject Area B. Social Employment and Labour Practice
主要范畴B.社会雇佣及劳工常规
Aspect B1 Employment
层面B1雇佣
General DisclosureInformation on:
(a) the policies; and
(b) compliance with relevant laws and
regulations that have a significant impact on
the isuer
relating to compensation and dismisal,
recruitment and promotion, working hours,
rest periods, equal oportunity, diversity,
anti-discrimination, and other benefits and
welfare.
Employment and Labour
Practices
82-84
一般披露有关薪酬及解雇、招聘及晋升、工作时数、假
期、平等机会、多元化、反歧视以及其他待遇及
福利的：
(a) 政策；及
(b) 遵守对发行人有重大影响的相关法律及
规例
的资料。
雇佣及劳工常规
KPI B1.1Total workforce by gender, employment type
(for example, ful- or part-time), age group and
geographical region.
Employment and Labour
Practices
关键绩效指标B1.1按性别、雇佣类型（如全职或兼职）、年龄组别及
地区划分的雇员总数。
雇佣及劳工常规
KPI B1.2Employe turnover rate by gender, age group
and geographical region.
Employment and Labour
Practices
关键绩效指标B1.2按性别、年龄组别及地区划分的雇员流失比率。雇佣及劳工常规
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环境、社会及管治报告
Subject Areas, Aspects, General Disclosures and KPIs (Note 1)SectionPage number
主要范畴、层面、一般披露及关键绩效指标（附注1）章节页次
Aspect B2 Health and Safety
层面B2健康与安全
General DisclosureInformation on:
(a) the policies; and
(b) compliance with relevant laws and
regulations that have a significant impact on
the isuer
relating to providing a safe working environment
and protecting employes from ocupational
hazards.
Ocupational Health and
Work Safety
86-89
一般披露有关提供安全工作环境及保障雇员避免职业性
危害的：
(a) 政策；及
(b) 遵守对发行人有重大影响的相关法律及
规例
的资料。
职业健康与工作安全
KPI B2.1Number and rate of work-related fatalities
ocured in each of the past thre years
Ocupational Health and
Work Safety
关键绩效指标B2.1过去三年每年因工亡故的人数及比率。职业健康与工作安全
KPI B2.2Lost days due to work injury.Ocupational Health and
Work Safety
关键绩效指标B2.2因工伤损失工作日数。职业健康与工作安全
KPI B2.3Description of ocupational health and
safety measures adopted, and how they are
implemented and monitored.
Ocupational Health and
Work Safety
86-89
关键绩效指标B2.3描述所采纳的职业健康与安全措施，以及相关执
行及监察方法。
职业健康与工作安全
Aspect B3 Development and Training
层面B3发展及培训
General DisclosurePolicies on improving employes’ knowledge and
skils for discharging duties at work. Description
of training activities.
Development and Training90-91
一般披露有关提升雇员履行工作职责的知识及技能的政
策。描述培训活动。
发展及培训
KPI B3.1The percentage of employes trained by
gender and employe category (e.g. senior
management, midle management).
Development and Training91
关键绩效指标B3.1按性别及雇员类别（如高级管理层、中级管理层）
划分的受训雇员百分比。
发展及培训
108GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
Subject Areas, Aspects, General Disclosures and KPIs (Note 1)SectionPage number
主要范畴、层面、一般披露及关键绩效指标（附注1）章节页次
KPI B3.2The average training hours completed per
employe by gender and employe category.
Development and Training91
关键绩效指标B3.2按性别及雇员类别划分，每名雇员完成受训的平
均时数。
发展及培训
Aspect B4 Labour Standards
层面B4劳工准则
General DisclosureInformation on:
(a) the policies; and
(b) compliance with relevant laws and
regulations that have a significant impact on
the isuer
relating to preventing child and forces labour.
Employment and Labour
Practices
一般披露有关防止童工或强制劳工的：
(a) 政策；及
(b) 遵守对发行人有重大影响的相关法律及
规例
的资料。
雇佣及劳工常规
KPI B4.1Description of measures to review employment
practices to avoid child and forced labour.
Employment and Labour
Practices
关键绩效指标B4.1描述检讨招聘惯例的措施以避免童工及强制劳
工。
雇佣及劳工常规
KPI B4.2Description of steps taken to eliminate such
practices when discovered.
Employment and Labour
Practices
关键绩效指标B4.2描述在发现违规情况时消除有关情况所采取的
步骤。
雇佣及劳工常规
Operating Practices
营运惯例
Aspect B5 Suply Chain Management
层面B5供应链管理
General DisclosurePolicies on managing environmental and social
risks of the suply chain.
Suply Chain Management92-94
一般披露管理供应链的环境及社会风险政策。供应链管理
KPI B5.1Number of supliers by geographical regionSuply Chain Management92
关键绩效指标B5.1按地区划分的供应商数目。供应链管理
1092024/25 年报 • GC CONSTRUCTION HOLDINGS LIMITED
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
Subject Areas, Aspects, General Disclosures and KPIs (Note 1)SectionPage number
主要范畴、层面、一般披露及关键绩效指标（附注1）章节页次
KPI B5.2Description of practices relating to engaging
supliers, number of supliers where the
practices are being implemented, and how they
are implemented and monitored.
Suply Chain Management92-94
关键绩效指标B5.2描述有关聘用供应商的惯例，向其执行有关惯例
的供应商数目，以及相关执行及监察方法。
供应链管理
KPI B5.3Description of practices used to identify
environmental and social risks along the suply
chain, and how they are implemented and
monitored.
Suply Chain Management92-94
关键绩效指标B5.3描述有关识别供应链每个环节的环境及社会风
险的惯例，以及相关执行及监察方法。
供应链管理
KPI B5.4Description of practices used to promote
environmentaly preferable products and services
when selecting supliers, and how they are
implemented and monitored.
Suply Chain Management92-94
关键绩效指标B5.4描述在拣选供应商时促使多用环保产品及服务
的惯例，以及相关执行及监察方法。
供应链管理
Aspect B6 Product Responsibility
层面B6产品责任
General DisclosureInformation on:
(a) the policies; and
(b) compliance with relevant laws and
regulations that have a significant impact on
the isuer
relating to health and safety, advertising,
labeling and privacy maters relating to products
and services provided and methods of redres.
Product Responsibility95-99
一般披露有关所提供产品和服务的健康与安全、广告、
标签及私隐事宜以及补救方法的：
(a) 政策；及
(b) 遵守对发行人有重大影响的相关法律及
规例
的资料。
产品责任
KPI B6.1Percentage of total products sold or shiped
subject to recals for safety and health reasons.
Product ResponsibilityN/A
关键绩效指标B6.1已售或已运送产品总数中因安全与健康理由而
须回收的百分比。
产品责任不适用
110GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
Subject Areas, Aspects, General Disclosures and KPIs (Note 1)SectionPage number
主要范畴、层面、一般披露及关键绩效指标（附注1）章节页次
KPI B6.2Number of products and service related
complaints received and how they are dealt with.
Product Responsibility98
关键绩效指标B6.2接获关于产品及服务的投诉数目以及应对方法。产品责任
KPI B6.3Description of practices relating to observing and
protecting intelectual property rights.
Product Responsibility98
关键绩效指标B6.3描述与维护及保障知识产权有关的惯例。产品责任
KPI B6.4Description of quality asurance proces and
recal procedures.
Product Responsibility95-98
关键绩效指标B6.4描述质量检定过程及产品回收程序。产品责任
KPI B6.5Description of consumer data protection and
privacy policies, and how they are implemented
and monitored.
Product Responsibility98-99
关键绩效指标B6.5描述消费者资料保障及私隐政策，以及相关执行
及监察方法。
产品责任
Aspect B7 Anti-coruption
层面B7反贪污
General DisclosureInformation on:
(a) the policies; and
(b) compliance with relevant laws and
regulations that have a significant impact on
the isuer
relating to bribery, extortion, fraud and money
laundering.
Anti-coruption99-100
一般披露有关防止贿赂、勒索、欺诈及洗黑钱的：
(a) 政策；及
(b) 遵守对发行人有重大影响的相关法律及规
例
的资料。
反贪污
KPI B7.1Number of concluded legal cases regarding
corupt practices brought against the isuer or its
employes during the reporting period and the
outcomes of the cases.
Anti-coruption100
关键绩效指标B7.1于汇报期内对发行人或其雇员提出并已审结的
贪污诉讼案件的数目及诉讼结果。
反贪污
1112024/25 年报 • GC CONSTRUCTION HOLDINGS LIMITED
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
Subject Areas, Aspects, General Disclosures and KPIs (Note 1)SectionPage number
主要范畴、层面、一般披露及关键绩效指标（附注1）章节页次
KPI B7.2Description of preventive measures and
whistle-blowing procedures, and how they are
implemented and monitored.
Anti-coruption99-100
关键绩效指标B7.2描述防范措施及举报程序，以及相关执行及监
察方法。
反贪污
KPI B7.3Description of anti-coruption training provided
to directors and staf.
Anti-coruption100
关键绩效指标B7.3描述向董事及员工提供的反贪污培训。反贪污
Aspect B8 Comunity Investment
层面B8社区投资
General DisclosurePolicies on comunity engagement to
understand the neds of the comunities where
the isuer operates and to ensure its activities
take into consideration the comunities’
interests.
Comunity investment101
一般披露有关以社区参与来了解营运所在社区需要和确
保其业务活动会考虑社区利益的政策。
社区投资
KPI B8.1Focus areas of contribution (e.g. education,
environmental concerns, labour neds, health,
culture, sport).
Comunity investment101
关键绩效指标B8.1专注贡献范畴（如教育、环境事宜、劳工需求、
健康、文化、体育）。
社区投资
KPI B8.2Resources contributed (e.g. money or time) to the
focus area.
Comunity investment101
关键绩效指标B8.2在专注范畴所动用资源（如金钱或时间）。社区投资
Note:
1. Al general disclosures and KPIs under “Subject Area A. Environmental”
and “Subject Area B. Social” are “comply or explain” provisions which
set out in the ESG Guide.
附注：
- 「主要范畴A.环境」及「主要范畴B.社会」项下所有
一般披露及关键绩效指标均为环境、社会及管
治指引所载「不遵守就解释」条文。
INDEPENDENT AUDITOR’S REPORT
独立核数师报告
112GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
To the Shareholders of GC Construction Holdings Limited
(incorporated in the Cayman Islands with limited liability)
OPINION
We have audited consolidated financial statements of GC
Construction Holdings Limited (the “Company”) and its subsidiaries
(the “Group”), which are set out on pages 120 to 203, which
comprise the consolidated statement of financial position as at 31
March 2025, and the consolidated statement of comprehensive
income, the consolidated statement of changes in equity and the
consolidated statement of cash flows for the year then ended, and
notes to the consolidated financial statements, including material
acounting policy information and other explanatory information.
In our opinion, the consolidated financial statements give a true and
fair view of the consolidated financial position of the Group as at
31 March 2025, and of its consolidated financial performance and
its consolidated cash flows for the year then ended in acordance
with Hong Kong Financial Reporting Standards (“HKFRSs”) isued by
the Hong Kong Institute of Certified Public Acountants (“HKICPA”)
and have ben properly prepared in compliance with the disclosure
requirements of the Hong Kong Companies Ordinance.
致GC Construction Holdings Limited股东
（于开曼群岛注册成立的有限公司）
意见
我们已审计GC Construction Holdings Limited（以
下简称「贵公司」）及其附属公司（以下统称「贵集
团」）列载于第120至203页的综合财务报表，包
括于2025年3月31日的综合财务状况表，及截至
该日止年度的综合全面收入表、综合权益变动
表及综合现金流量表；及综合财务报表附注，
包括重大会计政策资料及其他解释信息。
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。
1132024/25 年期 • GC CONSTRUCTION HOLDINGS LIMITED
INDEPENDENT AUDITOR’S REPORT
独立核数师报告
BASIS FOR OPINION
We conducted our audit in acordance with Hong Kong Standards on
Auditing (“HKSAs”) isued by the HKICPA. Our responsibilities under
those standards are further described in the Auditor’s Responsibilities
for the Audit of the Consolidated Financial Statements section of our
report. We are independent of the Group in acordance with the
HKICPA’s Code of Ethics for Profesional Acountants (“the Code”),
and we have fulfiled our other ethical responsibilities in acordance
with the Code. We believe that the audit evidence we have obtained
is suficient and apropriate to provide a basis for our opinion.
KEY AUDIT MATER
Key audit maters is the mater that, in our profesional judgment,
was of most significance in our audit of the consolidated financial
statements of the curent period. The 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 the mater.
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。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。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。
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。
| Key Audit Matter | How our audit addressed the Key Audit Matter |
|---|
114GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
INDEPENDENT AUDITOR’S REPORT
独立核数师报告
KEY AUDIT MATER (continued)
The key audit mater identified in our audit is related to revenue recognition on construction contracts.
Revenue recognition on construction contracts
We identified the recognition of construction revenue as
a key audit mater as they are quantitatively significant to
the consolidated financial statements as a whole and there
are significant judgements exercised by the management
of the Group in determining the budgeted costs of each
contract and the progres towards complete satisfaction
of the performance obligation and the amount of
construction revenue.
As disclosed in notes 4(a) and 5 to the consolidated
financial statements, the construction revenue amounted
to HK$530,657,000 for the year ended 31 March 2025.
Revenue from construction contract is recognised over the
period of the contract by measuring the progres towards
complete satisfaction of the performance obligation on
the basis of the actual costs incured by the Group up to
the year-end date as a percentage of total estimated costs
for each project.
The total estimated costs are prepared by the internal
quantity surveyors with reference to cost structure
of the Group’s completed projects of similar size
and specifications, quotation from supliers and
subcontractors and the latest actual costs incured. The
progres for each project are reasesed by management
at each reporting date.
Our procedures in relation to revenue recognition on
construction contracts included:
• Understanding the design and implementation
relating to recognition of construction contract
revenue and contract costs, and budget estimation
including budget control and aproval, record of
direct and indirect construction costs, measurement
of percentage of completion and reconciliation with
the revenue recognised;
• Performing retrospective review over the estimated
budget costs of projects, on a sample basis, by
comparing the estimations of costs to complete
contracts by comparing the costs incured for
contracts completed in the curent year to ases the
reliability of management’s budgeting proces;
• Discusing with the project managers and the
management of the Group to understand the status
of the projects, identifying any variations, provision on
los making contracts and obtaining explanations for
fluctuations in margins as to their reasonablenes;
• Inspecting the construction contract agrements with
customers, on a sample basis, to identify key terms
and conditions, including contracting parties, contract
period, contract sum, scope of work and evaluating
whether these key terms and conditions had ben
apropriately reflected in the total estimated revenue;
• Testing over the cost incured during the year ended
31 March 2025, on a sample basis, by inspecting to
relevant underlying suporting documents;
• Recalculating the percentage of completion to ensure
the acuracy of amount of revenue recognition.
关键审计事项（续）
| 关键审计事项 | 我们的审计如何处理关键审计事项 |
|---|
1152024/25 年期 • GC CONSTRUCTION HOLDINGS LIMITED
INDEPENDENT AUDITOR’S REPORT
独立核数师报告
KEY AUDIT MATERS (continued)
我们在审计中识别的关键审计事项是关于建筑合约的收入确认。
建筑合约的收入确认
由于建筑收入对综合财务报表整体而言在数量上属重
大，而 贵集团管理层在厘定每份合约的预算成本及完
成履行责任的进度及建筑收入金额时须作出重大判断，
故吾等确定建筑收入的确认为关键审计事项。
诚如综合财务报表附注4(a)及5所披露，截至2025年3月
31日止年度，建筑收入为530,657,000港元。
建筑合约的收入在合约期内确认，方法是透过根据 贵
集团截至年末止按各个项目已产生的实际成本占估计
成本总额的基准计量完成履行履约责任的进度。
估计成本总额由内部工料测量师参考 贵集团具有类似
规模及规格的已竣工项目的成本架构、供应商及分包商
的报价以及最新产生的实际成本编制。管理层于每个报
告日期重新评估每个项目的进度。
我们有关建筑合约的收入确认的程序包括：
• 了解有关确认建筑合约收入及合约成本的设计及实
施，以及预算估算，包括预算控制及批准、直接及
间接建筑成本记录、完工百分比计量及与已确认收
入对账；
- ，透过比
较本年度完成合约所产生的成本以比较完成合约的
预算成本，从而评估管理层预算流程的可靠性；
- ，以了解项目状
况、识别任何变更、就亏损合约作出拨备，并就利
润率波动的合理性取得解释；
- ，以识
别主要条款及条件，包括订约方、合约期、合约金
额、工程范围，并评估该等主要条款及条件是否已
适当反映于估计总收入中；
- ，抽样检查截至2025
年3月31日止年度所产生的成本；
- ，以确保收入确认金额的准确
性。
关键审计事项（续）
116GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
INDEPENDENT AUDITOR’S REPORT
独立核数师报告
INFORMATION OTHER THAN THE CONSOLIDATED
FINANCIAL STATEMENTS AND AUDITOR’S
REPORT THEREON
The directors of the Company are responsible for the other
information. The other information comprises the information
included in the anual report, but does not include the consolidated
financial statements and our auditor’s report thereon.
Our opinion on the consolidated financial statements does not cover
the other information and we do not expres any form of asurance
conclusion thereon.
In conection with our audit of the consolidated financial statements,
our responsibility is to read the other information and, in doing so,
consider whether the other information is materialy inconsistent with
the consolidated financial statements or our knowledge obtained in
the audit or otherwise apears to be materialy mistated. If, based
on the work we have performed, we conclude that there is a material
mistatement of this other information, we are required to report that
fact. We have nothing to report in this regard.
RESPONSIBILITIES OF DIRECTORS AND THOSE
CHARGED WITH GOVERNANCE FOR THE
CONSOLIDATED FINANCIAL STATEMENTS
The directors of the Company are responsible for the preparation of
the consolidated financial statements that give a true and fair view
in acordance with HKFRSs isued by the HKICPA and the disclosure
requirements of the Hong Kong Companies Ordinance, and for such
internal control as the directors determine is necesary to enable the
preparation of consolidated financial statements that are fre from
material mistatement, whether due to fraud or eror.
In preparing the consolidated financial statements, the directors are
responsible for asesing the Group’s ability to continue as a going
concern, disclosing, as aplicable, maters related to going concern
and using the going concern basis of acounting unles the directors
either intend to liquidate the Group or to cease operations, or have
no realistic alternative but to do so.
Those charged with governance are responsible for overseing the
Group’s financial reporting proces.
除综合财务报表及核数师报告以外
的其他信息
贵公司董事须对其他信息负责。其他信息包括
包含在年报，但不包含在综合财务报表及我们
的核数师报告的信息。
我们对综合财务报表的意见并不涵盖其他信息，
我们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。基于我们所执行的工作，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。
董事及治理层就综合财务报表须承
担的责任
贵公司董事须负责根据香港会计师公会颁布的
《香港财务报告准则》及香港《公司条例》的披露
规定拟备真实而中肯的综合财务报表，并对其
认为使综合财务报表的拟备不存在由于欺诈
或错误而导致的重大错误陈述所需的内部控制
负责。
在拟备综合财务报表时，董事负责评估 贵集
团持续经营的能力，并在适用情况下披露与持
续经营有关的事项，以及使用持续经营为会计
基础，除非董事有意将 贵集团清盘或停止经
营，或别无其他实际的替代方案。
治理层须负责监督 贵集团的财务报告过程。
1172024/25 年期 • GC CONSTRUCTION HOLDINGS LIMITED
INDEPENDENT AUDITOR’S REPORT
独立核数师报告
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 solely to you,
as a body, in acordance with section 405 of the Hong Kong
Companies Ordinance, and for no other purpose. We do not asume
responsibility towards or acept liability to any other person for
the contents of this report. Reasonable asurance is a high level
of asurance, but is not a guarante that an audit conducted in
acordance with HKSAs wil always detect a material mistatement
when it exists. Mistatements can arise from fraud or eror and are
considered material if, individualy or in the agregate, they could
reasonably be expected to influence the economic decisions of users
taken on the basis of these consolidated financial statements.
As part of an audit in acordance with HKSAs, we exercise
profesional judgment and maintain profesional skepticism
throughout the audit. We also:
• Identify and ases the risks of material mistatement of the
consolidated financial statements, whether due to fraud or
eror, design and perform audit procedures responsive to
those risks, and obtain audit evidence that is suficient and
apropriate to provide a basis for our opinion. The risk of
not detecting a material mistatement resulting from fraud is
higher than for one resulting from eror, as fraud may involve
colusion, forgery, intentional omisions, misrepresentations, or
the overide of internal control.
• Obtain an understanding of internal control relevant to the
audit in order to design audit procedures that are apropriate
in the circumstances, but not for the purpose of expresing an
opinion on the efectivenes of the Group’s internal control.
• Evaluate the apropriatenes of acounting policies used
and the reasonablenes of acounting estimates and related
disclosures made by the directors.
核数师就审计综合财务报表承担的
责任
我们的目标，是对综合财务报表整体是否不存在
由于欺诈或错误而导致的重大错误陈述取得合理
保证，并按照香港公司条例第405条仅向 阁下
（作为整体）出具包括我们意见的核数师报告，
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。
118GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
INDEPENDENT AUDITOR’S REPORT
独立核数师报告
AUDITOR’S RESPONSIBILITIES FOR THE
AUDIT OF THE CONSOLIDATED FINANCIAL
STATEMENTS (continued)
- ’ use of the
going concern basis of acounting and, based on the audit
evidence obtained, whether a material uncertainty exists related
to events or conditions that may cast significant doubt on the
Group’s ability to continue as a going concern. If we conclude
that a material uncertainty exists, we are required to draw
atention in our auditor’s report to the related disclosures in
the consolidated financial statements or, if such disclosures are
inadequate, to modify our opinion. Our conclusions are based
on the audit evidence obtained up to the date of our auditor’s
report. However, future events or conditions may cause the
Group to cease to continue as a going concern.
- , structure and content of the
consolidated financial statements, including the disclosures,
and whether the consolidated financial statements represent
the underlying transactions and events in a maner that
achieves fair presentation.
• Plan and perform the group audit to obtain suficient
apropriate audit evidence regarding the financial information
of the entities or busines units within the group as a basis for
forming an opinion on the group financial statements. We are
responsible for the direction, supervision and review of the
audit work performed for purposes of the group audit. We
remain solely responsible for our audit opinion.
We comunicate with those charged with governance regarding,
among other maters, the planed scope and timing of the audit
and significant audit findings, including any significant deficiencies in
internal control that we identify during our audit.
We also provide those charged with governance with a statement
that we have complied with relevant ethical requirements regarding
independence, and to comunicate with them al relationships
and other maters that may reasonably be thought to bear on our
independence, and where aplicable, actions taken to eliminate
threats or safeguards aplied.
核数师就审计综合财务报表承担的
责任（续）
• 对董事采用持续经营会计基础的恰当性作
出结论。根据所获取的审计凭证，确定是
否存在与事项或情况有关的重大不确定
性，从而可能导致对 贵集团的持续经营
能力产生重大疑虑。如果我们认为存在重
大不确定性，则有必要在核数师报告中提
请使用者注意综合财务报表中的相关披
露。假若有关的披露不足，则我们应当发
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。
- 、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。
- ，以就 贵集团内实
体或业务单位的财务信息获取充足、适当
的审计凭证，作为对集团财务报表发表意
见的基础。我们负责指导、监督及审查为
进行集团审计而执行的审计工作。我们为
审计意见承担全部责任。
除其他事项外，我们与治理层沟通了计划的审
计范围、时间安排、重大审计发现等，包括我
们在审计中识别出内部控制的任何重大缺陷。
我们还向治理层提交声明，说明我们已符合有
关独立性的相关专业道德要求，并与他们沟通
有可能合理地被认为会影响我们独立性的所有
关系和其他事项，以及在适用的情况下，用以
消除对独立性产生威胁的行动或采取的防范措
施。
1192024/25 年期 • GC CONSTRUCTION HOLDINGS LIMITED
INDEPENDENT AUDITOR’S REPORT
独立核数师报告
AUDITOR’S RESPONSIBILITIES FOR THE
AUDIT OF THE CONSOLIDATED FINANCIAL
STATEMENTS (continued)
From the maters comunicated with those charged with
governance, we determine those maters that were of most
significance in the audit of the consolidated financial statements
of the curent period and are therefore the key audit maters. We
describe these maters in our auditor’s report unles law or regulation
precludes public disclosure about the mater or when, in extremely
rare circumstances, we determine that a mater should not be
comunicated in our report because the adverse consequences
of doing so would reasonably be expected to outweigh the public
interest benefits of such comunication.
The engagement partner on the audit resulting in this independent
auditor’s report is Kwok Si Ki.
OP CPA & Co.
Certified Public Acountants
Kwok Si Ki
Practising Certificate Number: P08411
Hong Kong, 25 June 2025
核数师就审计综合财务报表承担的
责任（续）
从与治理层沟通的事项中，我们确定哪些事项
对本期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郭
锶琪。
奥栢国际会计师事务所
执业会计师
郭锶琪
执业证书号码：P08411
香港，2025年6月25日
| 2025 | 2024 | |||
|---|---|---|---|---|
| 2025年 | 2024年 | |||
| Notes | HK$’000 | HK$’000 | ||
| 附注 | 千港元 | 千港元 | ||
| 530,657 | ||||
| (528,535) | ||||
| 2,122 | ||||
| 83 | ||||
| (22,519) | ||||
| (33,573) | ||||
| (53,887) | ||||
| 899 | ||||
| (254) | ||||
| 645 | ||||
| (53,242) | ||||
| (229) | ||||
| (53,471) | ||||
| (5.3) | ||||
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
综合全面收入表
For the year ended 31 March 2025 截至2025年3月31日止年度
120GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
R
C
I
B
The acompanying notes are an integral part of these consolidated
financial statements.
随附注构成该等综合财务报表的一部分。
| 2025 | 2024 | |||
|---|---|---|---|---|
| 2025年 | 2024年 | |||
| Notes | HK$’000 | HK$’000 | ||
| 附注 | 千港元 | 千港元 | ||
| 2,393 | ||||
| 331 | ||||
| – | ||||
| 2,724 | ||||
| 83,759 | ||||
| 208,398 | ||||
| 5,011 | ||||
| 150 | ||||
| 2,256 | ||||
| – | ||||
| 18,762 | ||||
| 318,336 | ||||
| 321,060 | ||||
| 10,000 | ||||
| 262,348 | ||||
| 272,348 | ||||
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
综合财务状况表
As at 31 March 2025 于2025年3月31日
1212024/25 年期 • GC CONSTRUCTION HOLDINGS LIMITED
A
N
P
R
D
C
T
C
O
A
T
S
C
T
E
E
S
R
T
| 2025 | 2024 | |||
|---|---|---|---|---|
| 2025年 | 2024年 | |||
| Notes | HK$’000 | HK$’000 | ||
| 附注 | 千港元 | 千港元 | ||
| – | ||||
| 201 | ||||
| 201 | ||||
| 20,487 | ||||
| 17,228 | ||||
| 1,641 | ||||
| 370 | ||||
| 8,785 | ||||
| 48,511 | ||||
| 48,712 | ||||
| 321,060 | ||||
122GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
As at 31 March 2025 于2025年3月31日
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
综合财务状况表
L
N
L
D
The consolidated financial statements on pages 120 to 203 were
aproved by the Board of Directors on 25 June 2025 and were signed
on its behalf.
第120至203页的综合财务报表由董事会于2025
年6月25日批准并由以下董事代表签署。
Chan Kiu SumChan Wing Ping
陈桥森陈永平
DirectorDirector
董事董事
The acompanying notes are an integral part of these consolidated
financial statements.
随附注构成该等综合财务报表的一部分。
| Attributable to owners of the Company | |||||
|---|---|---|---|---|---|
| 本公司拥有人应占 | |||||
| Share | Share | Retained | |||
| capital | premium | earnings | Total | ||
| 股本 | 股份溢价 | 留存盈利 | 总计 | ||
| HK$’000 | HK$’000 | HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | 千港元 | 千港元 | ||
| (Note 24) | |||||
| （附注24） | |||||
| 10,000 | 105,356 | 210,463 | 325,819 |
|---|---|---|---|
| – | – | (53,471) | (53,471) |
| 10,000 | 105,356 | 156,992 | 272,348 |
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
综合权益变动表
For the year ended 31 March 2025 截至2025年3月31日止年度
1232024/25 年期 • GC CONSTRUCTION HOLDINGS LIMITED
（附注24）
Balance at 1 April 2023于2023年4月1日的结余10,000105,356191,394306,750
Profit and total comprehensive
income for the year
年度溢利及全面收入总额
–19,06919,069
Balance at 31 March 2024于2024年3月31日的结余10,000105,356210,463325,819
Balance at 1 April 2024于2024年4月1日的结余
Los and total comprehensive
expense for the year
年度亏损及全面开支总额
Balance at 31 March 2025于2025年3月31日的结余
The acompanying notes are an integral part of these consolidated
financial statements.
随附注构成该等综合财务报表的一部分。
| 2025 | 2024 | |||
|---|---|---|---|---|
| 2025年 | 2024年 | |||
| Notes | HK$’000 | HK$’000 | ||
| 附注 | 千港元 | 千港元 | ||
| (71,612) | ||||
| (103) | ||||
| (71,715) | ||||
| (273) | ||||
| 38 | ||||
| (53) | ||||
| 899 | ||||
| 50,000 | ||||
| 50,611 | ||||
| – | ||||
| (568) | ||||
| (222) | ||||
| (790) | ||||
| (21,894) | ||||
| 31,871 | ||||
| 9,977 | ||||
| 18,762 | ||||
| (8,785) | ||||
| 9,977 | ||||
CONSOLIDATED STATEMENT OF CASH FLOWS
综合现金流量表
For the year ended 31 March 2025 截至2025年3月31日止年度
124GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
C
N
I
The acompanying notes are an integral part of these consolidated
financial statements.
随附注构成该等综合财务报表的一部分。
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025 截至2025年3月31日止年度
1252024/25 年期 • GC CONSTRUCTION HOLDINGS LIMITED
1 GENERAL INFORMATION
GC Construction Holdings Limited (the “Company”) was
incorporated in the Cayman Islands on 28 April 2020 as an
exempted company with limited liability under Companies
Act (as revised) of the Cayman Islands. The adres of the
Company’s registered ofice is 71 Fort Stret, PO Box 500,
George Town, Grand Cayman KY1-1106, Cayman Islands.
The Company is an investment holding company. The Company
and its subsidiaries (colectively refered to as the “Group”)
are engaged in the provision of wet trades works to public or
private residential and comercial properties in Hong Kong and
construction works in Cambodia. The ultimate holding company
of the Company is Evolve Bilion Limited (“Evolve Bilion”). The
ultimate controling shareholders of the Group are Mr. Chan
Kiu Sum (“Mr. KS Chan”) and Mr. Chan Wing Ping (“Mr. WP
Chan”).
The Company’s shares have ben listed on the Main Board of
the Stock Exchange of Hong Kong (“HKSE”) on 10 October
2022.
The consolidated financial statements are presented in
thousands of Hong Kong dolars (“HK$’000”), unles otherwise
stated.
1 一般资料
GC Construction Holdings Limited（「本公
司」）于2020年4月28日根据开曼群岛《公司
法》（经修订）于开曼群岛注册成立为一间获
豁免有限公司。本公司的注册办事处地址
为71 Fort Stret, PO Box 500, George Town,
Grand Cayman KY1-1106, Cayman Islands。
本公司为一间投资控股公司。本公司及其
附属公司（统称为「本集团」）于香港从事向
公营或私营住宅及商业物业提供泥水工程
及于柬埔寨从事建造工程。本公司的最终
控股公司为进亿有限公司（「进亿」）。本集
团之最终控股东为陈桥森先生（「陈桥森
先生」）及陈永平先生（「陈永平先生」）。
本公司的股份已于2022年10月10日在香港
联交所（「联交所」）主板上市。
除另有说明外，综合财务报表以千港元
（「千港元」）呈列。
126GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
For the year ended 31 March 2025 截至2025年3月31日止年度
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
2 APLICATION OF NEW AND AMENDMENTS
TO HONG KONG FINANCIAL REPORTING
STANDARDS (“HKFRSs”)
Amendments to HKFRSs that are mandatorily
efective for the curent year
In the curent year, the Group has aplied the folowing
amendments to HKFRSs isued by the Hong Kong Institute
of Certified Public Acountants (“HKICPA”) for the first
time, which are mandatorily efective for the Group’s anual
period begining on 1 April 2024 for the preparation of the
consolidated financial statements:
Amendments to HKFRS 16Lease Liability in a Sale and
Leaseback
Amendments to HKAS 1Clasification of Liabilities as
Curent or Non-curent and
related amendments to Hong
Kong Interpretation 5 (2020)
Amendments to HKAS 1Non-curent Liabilities with
Covenants
Amendments to HKAS 7
and HKFRS 7
Suplier Finance Arangements
The aplication of the amendments to HKFRSs in the curent
year had no material impact on the Group’s financial positions
and performance for the curent year and/or on the disclosures
set out in these consolidated financial statements.
2 应用新订及经修订香港财务报告
准则（「香港财务报告准则」）
本年度强制生效的经修订香港财务
报告准则
于本年度，本集团已就编制综合财务报表
首次应用以下由香港会计师公会（「香港会
计师公会」）颁布于2024年4月1日开始的本
集团年度期间强制生效的经修订香港财务
报告准则：
香港财务报告准则
第16号（修订本）
售后租回的租赁
负债
香港会计准则
第1号（修订本）
将负债分类为流动
或非流动以及
香港诠释第5号
（2020年）之
相关修订
香港会计准则第1号
（修订本）
附带契诺的非流动
负债
香港会计准则第7号
及香港财务报告
准则第7号（修订本）
供应商融资安排
于本年度应用经修订香港财务报告准则对
本集团本年度的财务状况及表现及╱或该
等综合财务报表所载披露概无造成重大影
响。
1272024/25 年期 • GC CONSTRUCTION HOLDINGS LIMITED
For the year ended 31 March 2025 截至2025年3月31日止年度
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
2 APLICATION OF NEW AND AMENDMENTS
TO HONG KONG FINANCIAL REPORTING
STANDARDS (“HKFRSs”) (continued)
New and amendments to HKFRSs in isue but
not yet efective
The Group has not early aplied the folowing new and
amendments to HKFRSs that have ben isued but are not yet
efective:
Amendments to HKFRS 9 and
HKFRS 7
Amendments to the
Clasification and
Measurement of Financial
Instruments
Amendments to HKFRS 10 and
HKAS 28
Sale or Contribution of Asets
betwen an Investor and its
Asociate or Joint Venture
Amendments to HKFRS
Acounting Standards
Anual Improvements to HKFRS
Acounting Standards
– Volume 11
Amendments to HKAS 21Lack of Exchangeability
HKFRS 18Presentation and Disclosure in
Financial Statements
Efective for anual periods begining on or after a date to be
determined.
Efective for anual periods begining on or after 1 January 2025.
Efective for anual periods begining on or after 1 January 2026.
Efective for anual periods begining on or after 1 January 2027.
Except for the new and amendments to HKFRSs mentioned
below, the directors of the Company anticipate that the
aplication of al other new and amendments to HKFRSs
wil have no material impact on the consolidated financial
statements in the foreseable future.
2 应用新订及经修订香港财务报告
准则（「香港财务报告准则」）（续）
已颁布但尚未生效之新订及经修订
香港财务报告准则
本集团并无提早应用下列已颁布但尚未生
效之新订及经修订香港财务报告准则：
香港财务报告准则
第9号及香港财务
报告准则第7号
（修订本）
对分类及计量金融
工具之修订
香港财务报告准则
第10号及
香港会计准则
第28号（修订本）
投资者与其联营
公司或合营企业
之间出售或
注入资产
香港财务报告准则
会计准则（修订本）
香港财务报告准则
会计准则的年度
改进－第11册
香港会计准则第21号
（修订本）
缺乏可兑换性
香港财务报告准则
第18号
财务报表中的呈列
及披露
于待厘定日期或其后开始之年度期间生效。
于2025年1月1日或其后开始之年度期间生
效。
于2026年1月1日或其后开始之年度期间生
效。
于2027年1月1日或其后开始之年度期间生
效。
除下文所述香港财务报告准则的新订及经
修订外，本公司董事预期应用所有其他新
订香港财务报告准则及其修订本将不会于
可预见未来对综合财务报表造成任何重大
影响。
128GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
For the year ended 31 March 2025 截至2025年3月31日止年度
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
2 APLICATION OF NEW AND AMENDMENTS
TO HONG KONG FINANCIAL REPORTING
STANDARDS (“HKFRSs”) (continued)
New and amendments to HKFRSs in isue but
not yet efective (continued)
HKFRS 18 Presentation and Disclosure in Financial
Statements
HKFRS 18 Presentation and Disclosure in Financial Statements,
which sets out requirements on presentation and disclosures
in financial statements, wil replace HKAS 1 Presentation of
Financial Statements. This new HKFRS Acounting Standard,
while carying forward many of the requirements in HKAS 1,
introduces new requirements to present specified categories
and defined subtotals in the statement of profit or los; provide
disclosures on management-defined performance measures in
the notes to the financial statements and improve agregation
and disagregation of information to be disclosed in the
financial statements. In adition, some HKAS 1 paragraphs have
ben moved to HKAS 8 and HKFRS 7. Minor amendments to
HKAS 7 Statement of Cash Flows and HKAS 33 Earnings per
Share are also made.
HKFRS 18, and amendments to other standards, wil be efective
for anual periods begining on or after 1 January 2027, with
early aplication permited. The aplication of the new standard
is expected to afect the presentation of the statement of profit
or los and disclosures in the future financial statements. The
Group is in the proces of asesing the detailed impact of
HKFRS 18 on the Group’s consolidated financial statements.
2 应用新订及经修订香港财务报告
准则（「香港财务报告准则」）（续）
已颁布但尚未生效之新订及经修订
香港财务报告准则（续）
香港财务报告准则第18号「财务报表列
报及披露」
香港财务报告准则第18号「财务报表列报及
披露」列明财务报表的呈列及披露规定，将
取代香港会计准则第1号「财务报表呈列」。
此项新订香港财务报告准则会计准则继承
了香港会计准则第1号的多项规定，并引入
在损益表中呈列指定类别及界定小计的新
规定；在财务报表附注中就管理层界定的
绩效计量提供披露，以及改善财务报表所
披露资料的总计及分类。此外，部分香港
会计准则第1号段落已移至香港会计准则第
8号及香港财务报告准则第7号。香港会计
准则第7号「现金流量表」及香港会计准则第
33号「每股收益」亦作出轻微修订。
香港财务报告准则第18号及其他准则之修
订将于2027年1月1日或之后开始之年度期
间生效，并可提早应用。预期应用新准则
将影响日后财务报表中损益表的呈列及披
露。本集团现正评估香港财务报告准则第
18号对本集团综合财务报表的详细影响。
1292024/25 年期 • GC CONSTRUCTION HOLDINGS LIMITED
For the year ended 31 March 2025 截至2025年3月31日止年度
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
3 BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION
3.1 Basis of preparation of consolidated
financial statements
The consolidated financial statements have ben prepared
in acordance with HKFRSs isued by the HKICPA. In
adition, the consolidated financial statements include
aplicable disclosures required by the Rules Governing the
Listing of Securities on The Stock Exchange of Hong Kong
Limited (“Listing Rules”) and by the Hong Kong Companies
Ordinance.
The consolidated financial statements have ben prepared
on the historical cost basis, as explained in the material
acounting policy information set out below.
Historical cost is generaly based on the fair value of the
consideration given in exchange for gods and services.
Fair value is the price that would be received to sel an
aset or paid to transfer a liability in an orderly transaction
betwen market participants at the measurement date,
regardles of whether that price is directly observable or
estimated using another valuation technique. In estimating
the fair value of an aset or a liability, the Group takes into
acount the characteristics of the aset or liability if market
participants would take those characteristics into acount
when pricing the aset or liability at the measurement date.
Fair value for measurement and/or disclosure purposes in
these consolidated financial statements is determined on
such a basis, except for share-based payment transactions
that are within the scope of HKFRS 2 Share-based
Payment, leasing transactions that are acounted for in
acordance with HKFRS 16, and measurements that have
some similarities to fair value but are not fair value, such as
net realisable value in HKAS 2 Inventories or value in use in
HKAS 36 Impairment of Asets.
3 综合财务报表之编制基准及重大
会计政策资料
3.1 综合财务报表之编制基准
综合财务报表已按照香港会计师公
会颁布的香港财务报告准则编制。此
外，综合财务报表包括香港联合交易
所有限公司证券上市规则（「上市规
则」）及香港公司条例规定之适用披露。
如下文重大会计政策资讯所述，综合
财务报表已按历史成本基准编制。
历史成本一般以就换取商品及服务所
给予代价的公平值为基准。
公平值是市场参与者于计量日期在有
秩序交易中出售资产将收取或转让负
债将支付之价格，而不论该价格是否
可直接观察或使用其他估值方法作
出估计。于估计资产或负债之公平值
时，本集团会考虑该等市场参与者于
计量日期对资产或负债定价时所考虑
资产或负债之特点。在该等合并财务
报表中计量及╱或披露的公平值均在
此基础上予以确定，惟香港财务报告
准则第2号以股份为基础付款范围内之
以股份为基础付款的交易、根据香港
财务报告准则第16号列账之租赁交易
以及与公平值有些类似但并非公平值
的计量（例如，香港会计准则第2号存
货中的可变现净值或香港会计准则第
36号资产减值中的使用价值）除外。
130GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
For the year ended 31 March 2025 截至2025年3月31日止年度
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
3 BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION
(continued)
3.1 Basis of preparation of consolidated
financial statements (continued)
In adition, for financial reporting purposes, fair value
measurements are categorised into Level 1, 2 or 3 based
on the degre to which the inputs to the fair value
measurements are observable and the significance of the
inputs to the fair value measurement in its entirety, which
are described as folows:
• Level 1 inputs are quoted prices (unadjusted) in active
markets for identical asets or liabilities that the entity
can aces at the measurement date;
- , other than quoted prices
included within Level 1, that are observable for the
aset or liability, either directly or indirectly; and
• Level 3 inputs are unobservable inputs for the aset or
liability.
3 综合财务报表之编制基准及重大
会计政策资料（续）
3.1 综合财务报表之编制基准（续）
此外，就财务报告而言，公平值计量
分为第一级、第二级或第三级，此等
级别之划分乃根据公平值计量的输入
数据可观察程度及输入数据对公平值
计量的整体重要性，详述如下：
• 第一级输入数据乃实体于计量日
期可以取得的相同资产或负债于
活跃市场的报价（未经调整）；
• 第二级输入数据乃第一级所载报
价以外，就资产或负债直接或间
接可观察的输入数据；及
• 第三级输入数据乃资产或负债的
不可观察输入数据。
1312024/25 年期 • GC CONSTRUCTION HOLDINGS LIMITED
For the year ended 31 March 2025 截至2025年3月31日止年度
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
3 BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION
(continued)
3.2 Material acounting policy information
3.2.1 Basis of consolidation
The consolidated financial statements incorporate
the financial statements of the Company and entities
controled by the Company and its subsidiaries.
Control is achieved when the Company:
- ;
- , or has rights, to variable returns from
its involvement with the investe; and
• has the ability to use its power to afect its
returns.
The Group reaseses whether or not it controls an
investe if facts and circumstances indicate that there
are changes to one or more of the thre elements of
control listed above.
Consolidation of a subsidiary begins when the Group
obtains control over the subsidiary and ceases when
the Group loses control of the subsidiary. Specificaly,
income and expenses of a subsidiary acquired or
disposed of during the year are included in the
consolidated statement of profit or los and other
comprehensive income from the date the Group
gains control until the date when the Group ceases to
control the subsidiary.
When necesary, adjustments are made to the
financial statements of subsidiaries to bring their
acounting policies in line with the Group’s
acounting policies.
Al intragroup asets and liabilities, equity, income,
expenses and cash flows relating to transactions
betwen members of the Group are eliminated in ful
on consolidation.
3 综合财务报表之编制基准及重大
会计政策资料（续）
3.2 重大会计政策资料
3.2.1 综合账目的基准
综合财务报表包括本公司以及本
公司及其附属公司所控制实体的
财务报表。倘符合以下情况，本
公司即获得控制权：
- ；
• 自参与被投资方的业务获得
或有权获得可变回报；及
• 有能力使用其权力影响投资
者回报金额。
倘有事实及情况显示上文所列控
制权三个元素的一个或多个元素
出现变动，本集团会重新评估其
是否对被投资方拥有控制权。
本集团获得附属公司控制权时即
开始将附属公司综合入账，并于
本集团失去对附属公司的控制权
时终止入账。具体而言，年内所
收购或出售附属公司之收入及开
支于本集团获得控制权日期起直
至本集团不再控制该附属公司之
日止计入综合损益及其他全面收
益表。
如有需要，附属公司的财务报表
会作出调整，以使其会计政策与
本集团的会计政策一致。
集团内公司间一切资产及负债、
权益、收入、开支及有关本集团
附属公司间交易的现金流量于综
合账目时悉数对销。
132GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
For the year ended 31 March 2025 截至2025年3月31日止年度
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
3 BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION
(continued)
3.2 Material acounting policy information
(continued)
3.2.2 Plant and equipment and depreciation
Plant and equipment are tangible asets that are
held for use in the production or suply of gods
or services, or for administrative purpose. Plant
and equipment are stated at cost les acumulated
depreciation and any impairment loses. Costs include
any costs directly atributable to bringing the aset
to the location and condition necesary for it to be
capable of operating in the maner intended by
management, including costs of testing whether
the related asets is functioning properly and, for
qualifying asets, borowing costs capitalised in
acordance with the Group’s acounting policy.
Depreciation of these asets, on the same basis as
other property asets, comences when the asets
are ready for their intended use.
Depreciation is calculated on the straight-line basis
to write of the cost of each item of plant and
equipment to its estimated residual value over its
estimated useful life as folow:
– Ofice equipment and furniture 5 years
– Machinery 3 years
– Motor vehicles 3 years
Where parts of an item of plant and equipment have
diferent useful lives, the cost of that item is alocated
on a reasonable basis among the parts and each part
is depreciated separately.
Estimated residual values, estimated useful lives and
depreciation methods are reviewed, and adjusted if
apropriate, at least at each financial year end.
An item of plant and equipment is derecognised upon
disposal or when no future economic benefits are
expected from its use or disposal. Any gain or los
arising on the disposal or retirement of an item of
plant and equipment is determined as the diference
betwen the sales proceds and the carying amount
of the aset and is recognised in profit or los.
3 综合财务报表之编制基准及重大
会计政策资料（续）
3.2 重大会计政策资料（续）
3.2.2 厂房及设备及折旧
为生产或提供货品或服务或因行
政管理用途而持有之厂房及设备
属有形资产。厂房及设备乃按成
本值减累计折旧及任何减值亏损
呈列。成本包括使资产达到能够
按照管理层拟定的方式开展经营
所必要的位置及条件而直接产生
的任何成本（包括测试相关资产
是否正常运作的费用），及（就合
资格资产而言）根据本集团会计
政策拨充资本的借款成本。该等
资产按与其他物业资产相同的基
准，在达致拟定用途时开始计提
折旧。
折旧乃按其估计可使用年期以直
线法撇销厂房及设备之各有关成
本至估计剩余价值，如下：
－ 办公设备及家具 5年
－ 机械 3年
－ 汽车 3年
当厂房及设备之各有关部分有不
同可使用年期，则各有关成本依
照合理基准在各部分之间分配，
而各部分单独计提折旧。
估计剩余价值、估计可使用年期
及折旧方法至少在每个财政年度
终结时进行检讨，并在适当时作
出调整。
厂房及设备项目于出售时或当预
期其使用或出售不会产生任何日
后经济利益时终止确认。厂房及
设备项目出售或报废产生的任何
损益，按出售所得款项净额与该
资产账面值间的差额厘定并于损
益确认。
1332024/25 年期 • GC CONSTRUCTION HOLDINGS LIMITED
For the year ended 31 March 2025 截至2025年3月31日止年度
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
3 BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION
(continued)
3.2 Material acounting policy information
(continued)
3.2.3 Lease
The Group aseses whether a contract is or contains
a lease based on the definition under HKFRS 16 at
inception of the contract. Such contract wil not be
reasesed unles the terms and conditions of the
contract are subsequently changed.
The Group as a lese
Alocation of consideration to components of
a contract
For a contract that contains a lease component
and one or more aditional lease or non-lease
components, the Group alocates the consideration in
the contract to each lease component on the basis of
the relative stand-alone price of the lease component
and the agregate stand-alone price of the non-lease
components.
Short-term leases and leases of low-value
asets
The Group aplies the short-term lease recognition
exemption to leases of properties that have a lease
term of 12 months or les from the comencement
date and do not contain a purchase option. It also
aplies the recognition exemption for lease of
low-value asets. Lease payments on short-term
leases and leases of low value asets are recognised as
expense on a straight-line basis or another systematic
basis over the lease term.
3 综合财务报表之编制基准及重大
会计政策资料（续）
3.2 重大会计政策资料（续）
3.2.3 租赁
本集团根据香港财务报告准则第
16号的定义于合约开始时评估
该合约是否属于或包含租赁。除
非合约的条款和条件随后发生
变更，否则该合约将不会重新评
估。
本集团作为承租人
将合约代价分配至各部分
对于包含租赁部分及一个或多个
其他租赁或非租赁部分的合约，
本集团根据各租赁部分的相对独
立价格及非租赁部分的总独立价
格，将合约中的代价分配至各租
赁部分。
短期租赁及低价值资产租赁
本集团对自开始日期起租期为12
个月或更短且不包含购买选择权
的物业租赁采用短期租赁确认豁
免。本集团亦对低价值资产租赁
采用确认豁免。短期租赁及低价
值资产租赁的租赁付款于租期内
以直线法或其他系统合理方法确
认为费用。
134GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
For the year ended 31 March 2025 截至2025年3月31日止年度
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
3 BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION
(continued)
3.2 Material acounting policy information
(continued)
3.2.3 Lease (continued)
The Group as a lese (continued)
Right-of-use asets
The cost of right-of-use aset includes:
– the amount of the initial measurement of the
lease liability;
– any lease payments made at or before the
comencement date, les any lease incentives
received;
– any initial direct costs incured by the Group;
and
– an estimate of costs to be incured by the Group
in dismantling and removing the underlying
asets, restoring the site on which it is located or
restoring the underlying aset to the condition
required by the terms and conditions of the
lease.
Right-of-use asets are measured at cost, les any
acumulated depreciation and impairment loses, and
adjusted for any remeasurement of lease liabilities.
Right-of-use asets in which the Group is reasonably
certain to obtain ownership of the underlying leased
asets at the end of the lease term are depreciated
from comencement date to the end of the useful
life. Otherwise, right-of-use asets are depreciated on
a straight-line basis over the shorter of its estimated
useful life and the lease term.
The Group presents right-of-use asets as a separate
line item on the consolidated statement of financial
position.
3 综合财务报表之编制基准及重大
会计政策资料（续）
3.2 重大会计政策资料（续）
3.2.3 租赁（续）
本集团作为承租人（续）
使用权资产
使用权资产成本包括：
－ 租赁负债的初始计量金额；
－ 于开始日期或之前支付的任
何租赁款项，减已收任何租
赁奖励相关金额；
－ 本集团产生的任何初始直接
费用；及
－ 本集团在拆卸和移除租赁资
产，复原其所在场地或将租
赁资产恢复至租赁条款及条
件所要求的状态预计将发生
的成本。
使用权资产按成本减任何累计折
旧及减值亏损进行计量，并根据
租赁负债的重新计量进行调整。
本集团合理确定于租赁期完结时
可获得相关租赁资产拥有权之使
用权资产从开始日至可使用年期
完结计算折旧。除此之外，使用
权资产按其估计可使用年期及租
赁年期较短者，以直线法计算折
旧。
本集团将使用权资产列为综合财
务状况表的单独项目。
1352024/25 年期 • GC CONSTRUCTION HOLDINGS LIMITED
For the year ended 31 March 2025 截至2025年3月31日止年度
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
3 BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION
(continued)
3.2 Material acounting policy information
(continued)
3.2.3 Lease (continued)
The Group as a lese (continued)
Lease liabilities
At the comencement date of a lease, the Group
recognises and measures the lease liability at the
present value of lease payments that are unpaid at
that date. In calculating the present value of lease
payments, the Group uses the incremental borowing
rate at the lease comencement date if the interest
rate implicit in the lease is not readily determinable.
The lease payments include:
– fixed payments (including in-substance fixed
payments), les any lease incentives receivable;
– variable lease payment that are based on an
index or a rate, initialy measured using the index
or rate as at the comencement date;
– amounts expected to be payable by the Group
under residual value guarantes;
– the exercise price of a purchase option if the
Group is reasonably certain to exercise that
option; and
– payments of penalties for terminating the lease,
if the lease term reflects the Group exercising
that option.
After the comencement date, lease liabilities are
adjusted by interest acretion and lease payments.
3 综合财务报表之编制基准及重大
会计政策资料（续）
3.2 重大会计政策资料（续）
3.2.3 租赁（续）
本集团作为承租人（续）
租赁负债
租赁开始日期，本集团按当日未
付的租赁付款现值确认及计量租
赁负债。在计算租赁付款的现值
时，如果租赁中隐含的利率不易
确定，则本集团在租赁开始日使
用增量借款利率。
租赁付款包括：
－ 固定付款（包括实质固定付
款），减任何应收租赁奖励
相关金额；
－ 基于指数或比率的可变租赁
付款，在初始计量时根据开
始日期的指数或比率确定；
－ 本集团根据担保余值预计应
付款项；
－ 购买选择权的行使价，前提
是本集团合理确定将行使该
选择权；及
－ 为终止租赁需支付的罚款，
前提是租赁期反映本集团将
行使选择权。
于开始日期后，租约负债经利息
增值及租赁付款调整。
136GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
For the year ended 31 March 2025 截至2025年3月31日止年度
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
3 BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION
(continued)
3.2 Material acounting policy information
(continued)
3.2.3 Lease (continued)
The Group as a lese (continued)
Lease liabilities (continued)
The Group remeasures lease liabilities (and makes a
coresponding adjustment to the related right-of-use
asets) whenever:
– the lease term has changed or there is a change
in the asesment of exercise of a purchase
option, in which case the related lease liability
is remeasured by discounting the revised lease
payments using a revised discount rate at the
date of reasesment.
– the lease payments change due to changes
in market rental rates folowing a market rent
review, in which cases the related lease liability
is remeasured by discounting the revised lease
payments using the initial discount rate.
– a lease contract is modified and the lease
modification is not acounted for as a separate
lease (se below for the acounting policy for
“lease modifications”).
The Group presents lease liabilities as a separate
line item on the consolidated statement of financial
position.
3 综合财务报表之编制基准及重大
会计政策资料（续）
3.2 重大会计政策资料（续）
3.2.3 租赁（续）
本集团作为承租人（续）
租赁负债（续）
倘出现以下情况，本集团重新计
量租赁负债（并就相关使用权资
产作出相应调整）：
－ 租赁期有所变动或行使购买
选择权的评估发生变化，在
此情况下，相关租赁负债透
过使用重新评估日期的经修
订折现率折现经修订租赁付
款额而重新计量。
－ 租赁付款因进行市场租金调
查后市场租金变动而出现变
动，在此情况下，相关租赁
负债使用初始折现率折现经
修订租赁付款额而重新计
量。
－ 租赁合约已经修改且租赁修
改并无作为一项单独租赁入
账（见下文有关「租赁修改」
之会计政策）。
本集团将租赁负债作为单独项目
于综合财务状况表内呈列。
1372024/25 年期 • GC CONSTRUCTION HOLDINGS LIMITED
For the year ended 31 March 2025 截至2025年3月31日止年度
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
3 BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION
(continued)
3.2 Material acounting policy information
(continued)
3.2.4 Impairment of plant and equipment and
rights-of-use asets
At the end of the reporting period, the Group reviews
the carying amounts of its plant and equipment and
right-of-use asets with finite useful lives to determine
whether there is any indication that those asets have
sufered an impairment los. If any such indication
exists, the recoverable amount of the relevant aset
is estimated in order to determine the extent of the
impairment los, (if any).
The recoverable amount of plant and equipment and
right-of-use asets are estimated individualy. When
it is not posible to estimate the recoverable amount
individualy, the Group estimates the recoverable
amount of the cash-generating unit to which the
aset belongs.
In testing a cash-generating unit for impairment,
corporate asets are alocated to the relevant cash
generating unit when a reasonable and consistent
basis of alocation can be established, or otherwise
they are alocated to the smalest group of cash
generating units for which a reasonable and
consistent alocation basis can be established.
The recoverable amount is determined for the
cash-generating unit or group of cash-generating
units to which the corporate aset belongs, and is
compared with the carying amount of the relevant
cash-generating unit or group of cash-generating
units.
3 综合财务报表之编制基准及重大
会计政策资料（续）
3.2 重大会计政策资料（续）
3.2.4 厂房及设备及使用权资产减值
于报告期末，本集团对其厂房及
设备以及使用年期有限的使用
权资产的账面值作出检讨，以厘
定有否任何迹象显示该等资产出
现减值亏损。倘存在任何此类迹
象，则会对相关资产的可收回金
额作出估计，以确定减值亏损的
程度，如有。
厂房及设备及使用权资产的可收
回金额乃个别估计。倘无法估计
个别资产之可收回金额，则本集
团估计该资产所属现金产生单位
之可收回金额。
于测试现金产生单位的减值时，
倘可设立合理及一致的分配基
准，则公司资产分配至相关现金
产生单位，或以其他方式分配至
现金产生单位内可设立合理及一
致分配基准的最小组别。可收回
金额按公司资产所属现金产生单
位或现金产生单位组别厘定，并
与相关现金产生单位或现金产生
单位组别的账面值相比较。
138GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
For the year ended 31 March 2025 截至2025年3月31日止年度
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
3 BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION
(continued)
3.2 Material acounting policy information
(continued)
3.2.4 Impairment of plant and equipment and
rights-of-use asets (continued)
Recoverable amount is the higher of fair value les
costs of disposal and value in use. In asesing value
in use, the estimated future cash flows are discounted
to their present value using a pre-tax discount rate
that reflects curent market asesments of the time
value of money and the risks specific to the aset (or
a cash-generating unit) for which the estimates of
future cash flows have not ben adjusted.
If the recoverable amount of an aset (or a
cash-generating unit) is estimated to be les than its
carying amount, the carying amount of the aset (or
a cash-generating unit) is reduced to its recoverable
amount. For corporate asets or portion of corporate
asets which canot be alocated on a reasonable
and consistent basis to a cash-generating unit, the
Group compares the carying amount of a group of
cash-generating units, including the carying amounts
of the corporate asets or portion of corporate
asets alocated to that group of cash-generating
units, with the recoverable amount of the group
of cash-generating units. The carying amount of
an aset is not reduced below the highest of its fair
value les costs of disposal (if measurable), its value
in use (if determinable) and zero. The amount of the
impairment los that would otherwise have ben
alocated to the aset is alocated pro rata to the other
asets of the unit or the group of cash-generating
units. An impairment los is recognised imediately in
profit or los.
Where an impairment los subsequently reverses,
the carying amount of the aset (or cash-generating
unit or a group of cash-generating units) is increased
to the revised estimate of its recoverable amount,
but so that the increased carying amount does not
exced the carying amount that would have ben
determined had no impairment los ben recognised
for the aset (or a cash-generating unit or a group of
cash-generating units) in prior years. A reversal of an
impairment los is recognised imediately in profit or
los.
3 综合财务报表之编制基准及重大
会计政策资料（续）
3.2 重大会计政策资料（续）
3.2.4 厂房及设备及使用权资产减值（续）
可收回金额乃公平值减出售成本
及使用价值两者中较高者。于评
估使用价值时，估计未来现金流
量乃采用税前贴现率贴现至其现
值，以反映货币时间价值之现行
市场评估及尚未就未来现金流量
之估计作出调整之资产（或现金
产生单位）之特有风险。
倘资产（或现金产生单位）的可收
回金额估计低于其账面值，则该
资产（或现金产生单位）账面值
会下调至其可收回金额。就未能
按合理贯彻的基准分配至现金产
生单位的公司资产或部分公司资
产，本集团比较现金产生单位组
别账面值（包括已分配至该现金
产生单位组别的公司资产或部分
公司资产的账面值）与现金产生
单位组别的可收回金额。资产的
账面值不得减少至低于其公平值
减出售成本（如可计量）、其使用
价值（如可厘定）及零中的最高
者。原应分配至资产的减值亏损
金额按比例分配至单位或现金产
生单位组别的其他资产。减值亏
损即时于损益中确认。
倘减值亏损其后予以拨回，则有
关资产（或现金产生单位或现金
产生单位组别）的账面值乃增加
至其经修订的估计可收回金额，
惟因此增加之账面值不得超逾倘
该项资产（或现金产生单位或现
金产生单位组别）于过往年度并
无确认减值亏损时原本应厘定之
账面值。减值亏损拨回乃即时于
损益确认。
1392024/25 年期 • GC CONSTRUCTION HOLDINGS LIMITED
For the year ended 31 March 2025 截至2025年3月31日止年度
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
3 BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION
(continued)
3.2 Material acounting policy information
(continued)
3.2.5 Financial instruments
Financial asets and financial liabilities are recognised
when a group entity becomes a party to the
contractual provisions of the instrument. Al regular
way purchases or sales of financial asets are
recognised and derecognised on a trade date basis.
Regular way purchases or sales are purchases or
sales of financial asets that require delivery of asets
within the time frame established by regulation or
convention in the marketplace.
Financial asets and financial liabilities are initialy
measured at fair value except for trade receivables
arising from contracts with customers which are
initialy measured in acordance with HKFRS 15.
Transaction costs that are directly atributable to the
acquisition or isue of financial asets and financial
liabilities are aded to or deducted from the fair
values of the financial asets or financial liabilities, as
apropriate, on initial recognition. Transaction costs
directly atributable to the acquisition of financial
asets or financial liabilities at FVTPL are recognised
imediately in profit or los.
The efective interest method is a method of
calculating the amortised cost of a financial aset or
financial liability and of alocating and recognising
interest income and interest expense in profit or los
over the relevant period. The efective interest rate is
the rate that exactly discounts estimated future cash
receipts or payments (including al fes and points
paid or received that form an integral part of the
efective interest rate, transaction costs and other
premiums or discounts) through the expected life
of the financial aset or financial liability, or where
apropriate, a shorter period, to the net carying
amount on initial recognition.
Interest income which are derived from the Group’s
ordinary course of busines are presented under other
income, gains and loses, net.
3 综合财务报表之编制基准及重大
会计政策资料（续）
3.2 重大会计政策资料（续）
3.2.5 金融工具
金融资产及金融负债乃于集团实
体成为工具合约条文订约方时进
行确认。所有以常规途径购入或
销售之金融资产乃按交易日期基
准确认及取消确认。常规途径买
卖或销售指须于市场法规或惯例
所确定之时间框架内交付资产之
金融资产购入或销售。
金融资产及金融负债起初以公平
值计量，除自客户合约产生的贸
易应收款项根据香港财务报告准
则第15号初步计量。收购或发行
金融资产及金融负债直接产生的
交易成本将于初步确认时计入或
扣减自有关金融资产或金融负债
（如适用）的公平值。收购按公平
值计入损益的金融资产或金融负
债直接产生的交易成本即时于损
益中确认。
实际利率法为计算金融资产或金
融负债摊销成本的方法，亦为于
有关期间分配及确认于损益(cid:0)利
息收入及利息开支的方法。实际
利率为按金融资产或金融负债的
预计年期或（如适用）较短期间准
确贴现估计未来现金收入或付款
（包括所有构成实际利率组成部
分之已付或已收费用及费率、交
易成本及其他溢价或折让）至初
始确认时账面净值的利率。
来自本集团日常业务的利息收入
在其他收入、收益及亏损净额项
下呈列。
140GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
For the year ended 31 March 2025 截至2025年3月31日止年度
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
3 BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION
(continued)
3.2 Material acounting policy information
(continued)
3.2.5 Financial instruments (continued)
Financial asets
Clasification and measurement of financial
asets
Financial asets that met the folowing conditions are
subsequently measured at amortised cost:
• the financial aset is held within a busines
model whose objective is to colect contractual
cash flows; and
• the contractual terms give rise on specified
dates to cash flows that are solely payments of
principal and interest on the principal amount
outstanding.
(i) Financial asets at amortised cost and
efective interest method
Financial asets are recognised using the
efective interest method for financial asets
measured subsequently at amortised cost.
Interest income is calculated by aplying the
efective interest rate to the gros carying
amount of a financial aset, except for
financial asets that have subsequently become
credit-impaired. For financial asets that have
subsequently become credit-impaired, interest
income is recognised by aplying the efective
interest rate to the amortised cost of the
financial aset from the next reporting period.
If the credit risk on the credit-impaired financial
instrument improves so that the financial aset
is no longer credit-impaired, interest income is
recognised by aplying the efective interest rate
to the gros carying amount of the financial
aset from the begining of the reporting period
folowing the determination that the aset is no
longer credit impaired.
3 综合财务报表之编制基准及重大
会计政策资料（续）
3.2 重大会计政策资料（续）
3.2.5 金融工具（续）
金融资产
金融资产的分类及计量
符合以下条件的金融资产于其后
按摊销成本计量：
• 该金融资产以收取合约现金
流量为目的之商业模式下持
有；及
• 合约条款令于特定日期产生
之现金流量仅为支付本金及
未偿还本金之利息。
(i) 按摊销成本及实际利息法计
量的金融资产
就其后按摊销成本计量的金
融资产而言，金融资产采用
实际利息法确认。利息收入
透过对金融资产的账面总值
应用实际利率计算，惟其后
出现信贷减值的金融资产除
外。就其后出现信贷减值的
金融资产而言，利息收入透
过自下个报告期间起对金融
资产的摊销成本应用实际利
率确认。倘信贷减值金融工
具的信贷风险有所改善，使
金融资产不再信贷减值，则
自资产厘定为不再出现信贷
减值后的报告期间开始，利
息收入透过对金融资产的账
面总值应用实际利率确认。
1412024/25 年期 • GC CONSTRUCTION HOLDINGS LIMITED
For the year ended 31 March 2025 截至2025年3月31日止年度
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
3 BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION
(continued)
3.2 Material acounting policy information
(continued)
3.2.5 Financial instruments (continued)
Financial asets (continued)
Derecognition of financial asets
A financial aset (or, where aplicable, a part of a
financial aset or part of a group of similar financial
asets) is primarily derecognised (i.e., removed from
the Group’s consolidated statement of financial
position) when:
• the rights to receive cash flows from the aset
have expired; or
• the Group has transfered its rights to receive
cash flows from the aset or has asumed an
obligation to pay the received cash flows in ful
without material delay to a third party under a
“pas-through” arangement; and either (a) the
Group has transfered substantialy al the risks
and rewards of the aset; or (b) the Group has
neither transfered nor retained substantialy
al the risks and rewards of the aset, but has
transfered control of the aset.
The Group derecognises a financial aset only when
the contractual rights to the cash flows from the aset
expire, or when it transfers the financial aset and
substantialy al the risks and rewards of ownership of
the aset to another entity.
On derecognition of a financial aset measured at
amortised cost, the diference betwen the aset’s
carying amount and the sum of the consideration
received and receivable is recognised in profit or los.
3 综合财务报表之编制基准及重大
会计政策资料（续）
3.2 重大会计政策资料（续）
3.2.5 金融工具（续）
金融资产（续）
撤销已确认之金融资产
金融资产（或如适用，一项金融
资产之一部分或一组类似金融资
产之一部分）主要在下列情况下
撤销确认（即从本集团之综合财
务状况表中移除）：
• 收取该项资产所得现金流量
之权利已届满；或
• 本集团已转让收取该项资产
所得现金流量之权利，或根
据一项「通过」安排，在未有
严重延缓第三方之情况下，
已就所收取现金流量全数承
担付款之责任；及(a)本集团
已大致转让该项资产所附之
所有风险及回报，或(b)本集
团并无大致转让或保留该项
资产所附之所有风险及回
报，但已转让该项资产之控
制权。
本集团仅当从资产获得现金流量
之合约权利届满时，或当其金融
资产及资产所有权的绝大部分风
险及回报转移到另一实体时终止
确认金融资产。
于终止确认按摊销成本计量之金
融资产时，资产之账面值与已收
及应收代价总和间的差额于损益
确认。
142GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
For the year ended 31 March 2025 截至2025年3月31日止年度
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
3 BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION
(continued)
3.2 Material acounting policy information
(continued)
3.2.5 Financial instruments (continued)
Financial liabilities and equity
Clasification as debt or equity
Debt and equity instruments are clasified as either
financial liabilities or as equity in acordance with
the substance of the contractual arangements and
the definitions of a financial liability and an equity
instrument.
Equity instruments
An equity instrument is any contract that evidences
a residual interest in the asets of an entity after
deducting al of its liabilities. Equity instruments isued
by the Company are recognised at the proceds
received, net of direct isue costs.
Financial liabilities
Al financial liabilities are subsequently measured at
amortised cost using the efective interest method.
Financial liabilities at amortised cost
The Group’s financial liabilities including trade and
other payables and bank loan are subsequently
measured at amortised cost, using the efective
interest method.
Derecognition of financial liabilities
The Group derecognises financial liabilities when, and
only when, the Group’s obligations are discharged,
canceled or have expired. The diference betwen the
carying amount of the financial liability derecognized
and the consideration paid and payable is recognised
in profit or los.
Financial liabilities are clasified, at initial recognition,
as financial liabilities at amortised costs. Al financial
liabilities are recognised initialy at fair value and net
of directly atributable transaction costs.
3 综合财务报表之编制基准及重大
会计政策资料（续）
3.2 重大会计政策资料（续）
3.2.5 金融工具（续）
金融负债及权益
分类为债务或权益
债务及权益工具乃根据合约安排
的内容以及金融负债与权益工具
的定义分类为金融负债或权益。
权益工具
权益工具乃证明实体资产于扣除
其所有负债后之剩余权益之任何
合约。本公司发行之权益工具以
已收所得款项扣除直接发行成本
后之金额确认。
金融负债
所有金融负债其后采用实际利率
法按摊销成本计量。
按摊销成本计量的金融负债
本集团的金融负债（包括贸易及
其他应付款项和银行贷款）其后
采用实际利率法按摊销成本计
量。
取消确认金融负债
本集团于且仅于其责任获免除、
取消或届满时取消确认金融负
债。取消确认之金融负债之账面
值与已付及应付代价间之差额于
损益确认。
金融负债于初始确认时分类为按
摊销成本列账的金融负债。所有
金融负债初始按公平值并扣除直
接应占交易成本确认。
1432024/25 年期 • GC CONSTRUCTION HOLDINGS LIMITED
For the year ended 31 March 2025 截至2025年3月31日止年度
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
3 BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION
(continued)
3.2 Material acounting policy information
(continued)
3.2.6 Impairment of financial asets
The Group performs impairment asesment under
expected credit los (“ECL”) model subject to
impairment asesment under HKFRS 9 on financial
asets (including trade receivables, contract asets,
deposits and other receivables, amount due from
imediate holding company and cash and cash
equivalents). The amount of ECL is updated at each
reporting date to reflect changes in credit risk since
initial recognition.
Lifetime ECL represents the ECL that wil result from
al posible default events over the expected life of
the relevant instrument. In contrast, 12-month ECL
(“12m ECL”) represents the portion of lifetime ECL
that is expected to result from default events that are
posible within 12 months after the reporting date.
Asesments are done based on the Group’s historical
credit los experience, adjusted for factors that are
specific to the debtors, general economic conditions
and an asesment of both the curent conditions at
the reporting date as wel as the forecast of future
conditions.
The Group always recognises lifetime ECL for trade
receivable and contract asets without significant
financing component. The ECL on these asets are
asesed individualy for debtors with significant
balances and colectively using a provision matrix with
apropriate groupings.
For al other instruments, the Group measures the
los alowance equal to 12m ECL, unles when there
has ben a significant increase in credit risk since
initial recognition, the Group recognises lifetime ECL.
The asesment of whether lifetime ECL should be
recognised is based on significant increases in the
likelihod or risk of a default ocuring since initial
recognition.
3 综合财务报表之编制基准及重大
会计政策资料（续）
3.2 重大会计政策资料（续）
3.2.6 金融资产减值
本集团根据香港财务报告准则第
9号对金融资产（包括贸易应收款
项、合约资产、按金及其他应收
款项、应收直接控股公司款项以
及现金及现金等价物）进行减值
评估，惟须受限于预期信贷亏损
（「预期信贷亏损」）模型。预期信
贷亏损金额于各报告日期更新，
以反映自初始确认以来信贷风险
的变化。
全期预期信贷亏损指于相关工具
之预计年期内所有可能发生之违
约事件所将产生之预期信贷亏
损。反之，12个月预期信贷亏损
（「12个月预期信贷亏损」）指预期
于报告期间后12个月内可能发生
之违约事件所将产生之部分全期
预期信贷亏损。评估乃按本集团
过往信贷亏损经验进行，并就与
债务人、整体经济状况以及对于
报告日期之当前情况及预测之未
来情况两者所作之评估有关之特
定因素作出调整。
本集团始终就无重大融资成分的
贸易应收款项及合约资产确认全
期预期信贷亏损。该等资产的预
期信贷亏损将对拥有重大余额
的债务人进行单独评估，并使用
适宜组别的拨备矩阵进行集体评
估。
就所有其他工具而言，本集团计
量之亏损拨备相等于12个月预期
信贷亏损，除非自初步确认起信
贷风险显著增加，本集团确认全
期预期信贷亏损。对于应否确认
全期预期信贷亏损，有关评估乃
基于自初步确认起发生违约之可
能性或风险大幅增加。
144GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
For the year ended 31 March 2025 截至2025年3月31日止年度
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
3 BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION
(continued)
3.2 Material acounting policy information
(continued)
3.2.6 Impairment of financial asets (continued)
(i) Significant increase in credit risk
In asesing whether the credit risk has increased
significantly since initial recognition, the Group
compares the risk of a default ocuring on
the financial instrument as at the reporting
date with the risk of a default ocuring on
the financial instrument as at the date of
initial recognition. In making this asesment,
the Group considers both quantitative and
qualitative information that is reasonable and
suportable, including historical experience and
forward-loking information that is available
without undue cost or efort.
In particular, the folowing information is taken
into acount when asesing whether credit risk
has increased significantly:
– an actual or expected significant
deterioration in the financial instrument’s
external (if available) or internal credit
rating;
– significant deterioration in external market
indicators of credit risk, e.g. a significant
increase in the credit spread, the credit
default swap prices for the debtor;
– existing or forecast adverse changes in
busines, financial or economic conditions
that are expected to cause a significant
decrease in the debtor’s ability to met its
debt obligations;
– an actual or expected significant
deterioration in the operating results of the
debtor; or
– an actual or expected significant adverse
change in the regulatory, economic, or
technological environment of the debtor
that results in a significant decrease in the
debtor’s ability to met its debt obligations.
3 综合财务报表之编制基准及重大
会计政策资料（续）
3.2 重大会计政策资料（续）
3.2.6 金融资产减值（续）
(i) 信贷风险显著增加
在评估自初步确认以来信贷
风险有否显著增加时，本集
团将金融工具于报告日期发
生违约之风险与金融工具于
初步确认日期发生违约之风
险进行比较。在进行该评估
时，本集团会同时考虑合理
有据的定量及定性资料，包
括无需付出过度成本或精力
便可获得过往经验及前瞻性
资料。
特别是，在评估信贷风险是
否显著增加时，会考虑以下
资料：
－ 金融工具之外部（如
有）或内部信贷评级实
际上或预期将显著恶
化；
－ 信贷风险的外部市场指
标显著恶化，如信贷息
差之显著增加以及债务
人之信贷违约掉期价
格；
－ 业务、财务或经济状况
现时或预期会出现不利
变动，而有关变动预期
会导致债务人履行其债
务责任之能力显著下
降；
－ 债务人之经营业绩实际
上或预期会显著恶化；
或
－ 债务人所处之监管、经
济或技术环境实际上或
预期会出现重大不利变
动，而有关变动导致债
务人履行其债务责任之
能力显著下降。
1452024/25 年期 • GC CONSTRUCTION HOLDINGS LIMITED
For the year ended 31 March 2025 截至2025年3月31日止年度
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
3 BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION
(continued)
3.2 Material acounting policy information
(continued)
3.2.6 Impairment of financial asets (continued)
(i) Significant increase in credit risk
(continued)
Irespective of the outcome of the above
asesment, the Group presumes that the
credit risk has increased significantly since initial
recognition when contractual payments are
more than 30 days past due, unles the Group
has reasonable and suportable information
that demonstrates otherwise.
The Group regularly monitors the efectivenes
of the criteria used to identify whether there
has ben a significant increase in credit risk and
revises them as apropriate to ensure that the
criteria are capable of identifying significant
increase in credit risk before the amount
becomes past due.
(i) Definition of default
For internal credit risk management, the Group
considers an event of default ocurs when
information developed internaly or obtained
from external sources indicates that the debtor
is unlikely to pay its creditors, including the
Group, in ful (without taking into acount any
colaterals held by the Group).
Irespective of the above, the Group considers
that default has ocured when a financial aset
is more than 90 days past due unles the Group
has reasonable and suportable information
to demonstrate that a more laging default
criterion is more apropriate.
3 综合财务报表之编制基准及重大
会计政策资料（续）
3.2 重大会计政策资料（续）
3.2.6 金融资产减值（续）
(i) 信贷风险显著增加（续）
不论上述评估结果如何，本
集团假设当合约付款逾期超
过30日时，信贷风险已自初
始确认以来显著增加，除非
本集团有合理有据的资料证
明则作别论。
本集团定期监察用以确定信
贷风险曾否显著增加的标准
的成效，并于适当时候作出
修订，从而确保有关标准能
够于款项逾期前确定信贷风
险显著增加。
(i) 违约的定义
就内部信贷风险管理而言，
本集团认为当内部产生或获
取自外部来源的资料表明债
务人不太可能向债权人（包
括本集团）全额还款时（在不
计及本集团所持之任何抵押
品的情况下），即属发生违
约事件。
不论上文所述，本集团认为
倘金融资产逾期超过90日，
则发生违约事件，除非本集
团有合理有据的资料证明更
宽松的违约标准更为合适则
作别论。
146GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
For the year ended 31 March 2025 截至2025年3月31日止年度
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
3 BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION
(continued)
3.2 Material acounting policy information
(continued)
3.2.6 Impairment of financial asets (continued)
(i) Credit-impaired financial asets
A financial aset is credit-impaired when one or
more events of default that have a detrimental
impact on the estimated future cash flows of
that financial aset have ocured. Evidence
that a financial aset is credit-impaired includes
observable data about the folowing events:
– significant financial dificulty of the isuer
or the borower;
– a breach of contract, such as a default or
past due event;
– the lender(s) of the borower, for economic
or contractual reasons relating to the
borower’s financial dificulty, having
granted to the borower a concesion(s)
that the lender(s) would not otherwise
consider;
– it is becoming probable that the borower
wil enter bankruptcy or other financial
reorganisation; or
– the disapearance of an active market for
that financial aset because of financial
dificulties.
3 综合财务报表之编制基准及重大
会计政策资料（续）
3.2 重大会计政策资料（续）
3.2.6 金融资产减值（续）
(i) 信贷减值金融资产
当发生对金融资产的估计未
来现金流量产生不利影响的
一项或多项违约事件时，该
金融资产即出现信贷减值。
金融资产信贷减值的证据包
括以下事件的可观察数据：
－ 发行人或借款人出现重
大财务困难；
－ 违反合约，例如违约或
逾期事件；
－ 借款人的贷款人就经济
或与借款人财务困难有
关的合约理由向借款人
提供在其他情况下贷款
人不予考虑的优惠条
件；
－ 借款人有可能将宣告破
产或进行其他财务重
组；或
－ 因出现财务困难导致该
金融资产失去活跃市
场。
1472024/25 年期 • GC CONSTRUCTION HOLDINGS LIMITED
For the year ended 31 March 2025 截至2025年3月31日止年度
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
3 BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION
(continued)
3.2 Material acounting policy information
(continued)
3.2.6 Impairment of financial asets (continued)
(iv) Write-of policy
The Group writes of a financial aset when
there is information indicating that the
counterparty is in severe financial dificulty
and there is no realistic prospect of recovery,
for example, when the counterparty has
ben placed under liquidation or has entered
into bankruptcy procedings, or in the case
of trade receivables, when the amounts are
over one year past due, whichever ocurs
soner. Financial asets writen of may stil
be subject to enforcement activities under
the Group’s recovery procedures, taking into
acount legal advice where apropriate. A
write-of constitutes a derecognition event. Any
subsequent recoveries are recognised in profit or
los.
(v) Measurement and recognition of ECL
The measurement of ECL is a function of the
probability of default, los given default (i.e.
the magnitude of the los if there is a default)
and the exposure at default. The asesment
of the probability of default and los given
default is based on historical data adjusted by
forward-loking information. Estimation of ECL
reflects an unbiased and probability-weighted
amount that is determined with the respective
risks of default ocuring as the weights.
Generaly, the ECL is the diference betwen
al contractual cash flows that are due to the
Group in acordance with the contract and
the cash flows that the Group expects to
receive, discounted at the efective interest rate
determined at initial recognition.
3 综合财务报表之编制基准及重大
会计政策资料（续）
3.2 重大会计政策资料（续）
3.2.6 金融资产减值（续）
(iv) 撇销政策
当有资料显示交易对手陷
入严重财务困境，且并无实
际收回的可能之时（例如交
易对手已清算或进入破产
程序，或贸易应收款项逾期
超过一年（以较早发生者为
准），本集团会撇销金融资
产。已撇销的金融资产仍可
根据本集团的收回程序实施
强制执行，在适当情况下考
虑法律意见。撇销构成终止
确认事件。任何其后收回款
项于损益中确认。
(v) 预期信贷亏损的计量及确
认
预期信贷亏损的计量为违
约概率、违约损失率（即违
约时的损失程度）及违约风
险的函数。评估违约概率及
违约损失率的依据是过往数
据，并经前瞻性资料调整。
预期信贷亏损的估计乃无偏
概率加权金额，以各自发生
违约的风险为权重厘定。
一般而言，预期信贷亏损乃
根据合约应付本集团之所有
合约现金流量与本集团预期
收取之现金流量之间的差
额，并按初步确认时厘定之
实际利率贴现。
148GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
For the year ended 31 March 2025 截至2025年3月31日止年度
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
3 BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION
(continued)
3.2 Material acounting policy information
(continued)
3.2.6 Impairment of financial asets (continued)
(v) Measurement and recognition of ECL
(continued)
Where ECL is measured on a colective basis or
cater for cases where evidence at the individual
instrument level may not yet be available, the
financial instruments are grouped based on:
– Nature of financial instruments (i.e. the
Group’s trade receivables together with
contract asets and deposits and other
receivables are each asesed as a separate
group);
– Past-due status;
– Nature, size and industry of debtors; and
– External credit ratings where available.
The grouping is regularly reviewed by
management to ensure the constituents of
each group continue to share similar credit risk
characteristics.
The Group recognises an impairment gain or
los in profit or los for al financial instruments
by adjusting their carying amount, with the
exception of trade receivables and contract
asets where the coresponding adjustment is
recognised through a los alowance acount.
3 综合财务报表之编制基准及重大
会计政策资料（续）
3.2 重大会计政策资料（续）
3.2.6 金融资产减值（续）
(v) 预期信贷亏损的计量及确
认（续）
倘预期信贷亏损按集体基准
计量或迎合个别工具水平证
据未必存在的情况，则金融
工具按以下基准归类：
－ 金融工具的性质（即本
集团的贸易应收款项连
同合约资产及按金及其
他应收款项各自作为独
立组别进行评估）；
－ 逾期状况；
－ 债务人的性质、规模及
行业；及
－ 可用的外部信贷评级。
管理层定期检讨各组别，确
保各组别的组成项目仍然具
有相似的信贷风险特征。
本集团通过调整金融工具之
账面值，于损益确认所有金
融工具的减值收益或亏损，
惟贸易应收款项及合约资产
之相应调整则通过亏损拨备
账确认。
1492024/25 年期 • GC CONSTRUCTION HOLDINGS LIMITED
For the year ended 31 March 2025 截至2025年3月31日止年度
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
3 BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION
(continued)
3.2 Material acounting policy information
(continued)
3.2.7 Cash and cash equivalents
Cash and cash equivalents presented on the
consolidated statement of financial position include:
(a) cash, which comprises of cash on hand and
demand deposits, excluding bank balances
that are subject to regulatory restrictions that
result in such balances no longer meting the
definition of cash; and
(b) cash equivalents, which comprises of short-term
(generaly with original maturity of thre months
or les), highly liquid investments that are
readily convertible to a known amount of cash
and which are subject to an insignificant risk
of changes in value. Cash equivalents are held
for the purpose of meting short-term cash
comitments rather than for investment or
other purposes.
For the purposes of the consolidated statement of
cash flows, cash and cash equivalents consist of
cash and cash equivalents as defined above, net of
outstanding bank overdrafts which are repayable on
demand and form an integral part of the Group’s
cash management. Such overdrafts are presented as
short-term borowings in the consolidated statement
of financial position.
3.2.8 Taxation
Income tax expense represents the sum of the curent
and defered income tax expense.
The tax curently payable is based on taxable profit
for the year. Taxable profit difers from (los)/profit
before tax because of income or expense that are
taxable or deductible in other years and items that are
never taxable or deductible. The Group’s liability for
curent tax is calculated using tax rates that have ben
enacted or substantively enacted by the end of the
reporting period.
3 综合财务报表之编制基准及重大
会计政策资料（续）
3.2 重大会计政策资料（续）
3.2.7 现金及现金等价物
于综合财务状况表呈列之现金及
现金等价物包括：
(a) 现金，其包括手头现金及活
期存款，不包括受监管限制
而导致有关结余不再符合现
金定义的银行结余；及
(b) 现金等价物，包括短期（通
常原到期日为三个月或更
短）、可随时转换为已知数
额现金且价值变动风险不大
的高流动性投资。现金等价
物持作满足短期现金承担，
而非用于投资或其他目的。
就综合现金流量表而言，现金及
现金等价物包括上文所界定的现
金及现金等价物，扣除须按要求
偿还并构成本集团现金管理组成
部分的未偿还银行透支。该等透
支于综合财务状况表内呈列为短
期借款。
3.2.8 税项
所得税开支指即期及递延所得税
开支的总和。
即期应付税项以本年度应评税
溢利计算。应评税溢利与除税前
（亏损）╱溢利不同之处在于其他
年度内应评税或可抵免的收入或
支出以及从来毋须课税或不可抵
免的项目。本公司即期税项负债
按报告期间末已实施或大致上已
实施的税率计算。
150GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
For the year ended 31 March 2025 截至2025年3月31日止年度
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
3 BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION
(continued)
3.2 Material acounting policy information
(continued)
3.2.8 Taxation (continued)
Defered tax is recognised on temporary diferences
betwen the carying amounts of asets and liabilities
in the consolidated financial statements and the
coresponding tax bases used in the computation of
taxable profit. Defered tax liabilities are generaly
recognised for al taxable temporary diferences.
Defered tax asets are generaly recognised for al
deductible temporary diferences to the extent that
it is probable that taxable profits wil be available
against which those deductible temporary diferences
can be utilised.
Defered tax liabilities are recognised for taxable
temporary diferences asociated with investments
in subsidiaries, except where the Group is able to
control the reversal of the temporary diference
and it is probable that the temporary diference wil
not reverse in the foreseable future. Defered tax
asets arising from deductible temporary diferences
asociated with such investments are only recognised
to the extent that it is probable that there wil be
suficient taxable profits against which to utilise the
benefits of the temporary diferences and they are
expected to reverse in the foreseable future.
The carying amount of defered tax asets is
reviewed at the end of each reporting period and
reduced to the extent that it is no longer probable
that suficient taxable profits wil be available to alow
al or part of the aset to be recovered.
Defered tax asets and liabilities are measured at the
tax rates that are expected to aply in the period in
which the liability is setled or the aset is realised,
based on tax rate (and tax laws) that have ben
enacted or substantively enacted by the end of the
reporting period.
3 综合财务报表之编制基准及重大
会计政策资料（续）
3.2 重大会计政策资料（续）
3.2.8 税项（续）
递延税项按综合财务报表的资产
及负债账面值与计算应课税溢利
所用相应税基之间的暂时差额确
认。递延税项负债一般就所有应
课税暂时差额确认。递延税项资
产一般限于有可能取得应课税溢
利以抵销可扣减暂时差额时就所
有可扣减暂时差额确认。
递延税项负债乃就与附属公司的
投资相关的应课税暂时差额确
认，惟倘本集团可控制有关暂时
差额拨回，以及暂时差额不大可
能在可见将来拨回则除外。与该
等投资相关的可扣减暂时差额所
产生的递延税项资产，仅限于很
大可能有足够应课税溢利抵销暂
时差额利益并预期于可见将来拨
回时确认。
递延税项资产之账面值乃于各报
告期间末进行检讨，并于不再可
能有足够应评税溢利以收回全部
或部分资产之情形下作调减。
递延税项资产及负债按清偿负债
或变现资产期间预期适用之税
率，并根据于报告期间末已颁布
或实质上已颁布之税率（及税法）
计量。
1512024/25 年期 • GC CONSTRUCTION HOLDINGS LIMITED
For the year ended 31 March 2025 截至2025年3月31日止年度
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
3 BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION
(continued)
3.2 Material acounting policy information
(continued)
3.2.8 Taxation (continued)
The measurement of defered tax liabilities and asets
reflects the tax consequences that would folow from
the maner in which the Group expects, at the end of
the reporting period, to recover or setle the carying
amount of its asets and liabilities.
Curent and defered tax are recognised in profit or
los.
3 综合财务报表之编制基准及重大
会计政策资料（续）
3.2 重大会计政策资料（续）
3.2.8 税项（续）
递延税项负债及资产之计量反映
按照本集团于报告期间末预期收
回或结算其资产及负债账面值之
方式所产生之税务结果。
当期税项及递延税项在损益中确
认。
152GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
For the year ended 31 March 2025 截至2025年3月31日止年度
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
3 BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION
(continued)
3.2 Material acounting policy information
(continued)
3.2.9 Revenue from contracts with customers
The Group recognises revenue when (or as)
a performance obligation is satisfied, i.e.
when“control” of the gods or services underlying
the particular performance obligation is transfered to
the customer.
A performance obligation represents a god or
service (or a bundle of gods or services) that is
distinct or a series of distinct gods or services that are
substantialy the same.
Control is transfered over time and revenue is
recognised over time by reference to the progres
towards complete satisfaction of the relevant
performance obligation if one of the folowing criteria
is met:
• the customer simultaneously receives and
consumes the benefits provided by the Group’s
performance as the Group performs;
- ’s performance creates and enhances
an aset that the customer controls as the Group
performs; or
- ’s performance does not create an
aset with an alternative use to the Group and
the Group has an enforceable right to payment
for performance completed to date.
3 综合财务报表之编制基准及重大
会计政策资料（续）
3.2 重大会计政策资料（续）
3.2.9 来自客户合约的收益
本集团于达成履约责任时（或就
此）确认收益，即与特定履约责
任相关之商品或服务之「控制权」
转移至客户时。
履约责任指个别商品或服务（或
一组商品或服务）或一系列大致
相同之个别商品或服务。
倘符合以下其中一项标准，则控
制权随时间转移，而收益则参照
完全履行相关履约责任之进展情
况而随时间确认：
- ，客户
同时取得并耗用本集团
履约所提供之利益；
• 本集团之履约产生及提
升一项资产，而该项资
产于本集团履约时由客
户控制；或
• 本集团之履约并未产生
让本集团有替代用途之
资产，且本集团对迄今
已完成履约之付款具有
可强制执行之权利。
1532024/25 年期 • GC CONSTRUCTION HOLDINGS LIMITED
For the year ended 31 March 2025 截至2025年3月31日止年度
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
3 BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION
(continued)
3.2 Material acounting policy information
(continued)
3.2.9 Revenue from contracts with customers
(continued)
Otherwise, revenue is recognised at a point in time
when the customer obtains control of the distinct
god or service.
Overtime revenue recognition
Revenue is measured at the fair value of the
consideration received or receivable, and represents
amounts receivable for services rendered in the
normal course of busines.
If contracts involve the sale of multiple services,
the transaction price wil be alocated to each
performance obligation based on their relative
stand-alone seling prices. If the stand-alone seling
prices are not directly observable, they are estimated
based on expected cost plus a margin or adjusted
market asesment aproach, depending on the
availability of observable information.
Revenues are recognised when or as the control of
the god or service is transfered to the customer.
Depending on the terms of the contract and the laws
that aply to the contract, control of the god or service
may be transfered over time or at a point in time.
Control of the god or service is transfered over time
if the Group’s performance:
• provides al of the benefits received and
consumed simultaneously by the customer;
• creates or enhances an aset that the customer
controls as the Group performs; or
• does not create an aset with an alternative use
to the Group and the Group has an enforceable
right to payment for performance completed to
date.
3 综合财务报表之编制基准及重大
会计政策资料（续）
3.2 重大会计政策资料（续）
3.2.9 来自客户合约的收益（续）
否则，收益于客户获得个别服务
控制权之时间点确认。
随时间确认收入
收入按已收或应收代价的公平值
计量，指就于一般业务过程中所
提供服务的应收款项。
倘合约涉及销售多项服务，交易
价将根据其相对独立售价分配至
各履约责任。倘无法直接观察得
出独立售价，则按预期成本加利
润率或采用经调整市场评估法估
计，视乎有否可观察资料而定。
收入于货品或服务的控制权转交
客户时（或就此）确认。视乎合约
条款及合约适用的法律，货品或
服务的控制权可随著时间渡过或
于某个时间点转移。
倘本集团的履约属以下情况，则
货品或服务的控制权随著时间渡
过而转移：
• 提供的所有利益被客户同时
收取及消耗；
• 于本集团履约时创建或增强
客户控制的资产；或
• 并未创建对本集团具有替代
用途的资产及本集团有强制
执行权收取至今已完成履约
部分的款项。
154GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
For the year ended 31 March 2025 截至2025年3月31日止年度
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
3 BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION
(continued)
3.2 Material acounting policy information
(continued)
3.2.9 Revenue from contracts with customers
(continued)
Overtime revenue recognition (continued)
If control of the aset transfers over time, revenue
is recognised over the period of the contract
by reference to the progres towards complete
satisfaction of that performance obligation.
Otherwise, revenue is recognised at a point in time
when the customer obtains control of the aset.
Specific criteria where revenue is recognised are
described below.
The progres towards complete satisfaction of the
performance obligation is measured based on one of
the folowing methods that best depict the Group’s
performance in satisfying the performance obligation:
• direct measurements of the value transfered by
the Group to the customer; or
- ’s eforts or inputs to the satisfaction
of the performance obligation relative to the
total expected eforts or inputs.
(i) Revenue from provision of wet trades
works and construction works
Revenue from provision of wet trades works
is recognised over time as the Group’s
performance creates or enhances an aset or
work in progres that the customer controls as
the aset is created or enhanced. The Group
has aplied the input method in recognising the
revenue from construction contracts over time
by reference to the Group’s eforts or inputs to
the satisfaction on a performance obligation (for
example, subcontracting fes, cost of materials
and tolings) relative to the total expected
inputs to the satisfaction of the performance
obligation.
3 综合财务报表之编制基准及重大
会计政策资料（续）
3.2 重大会计政策资料（续）
3.2.9 来自客户合约的收益（续）
随时间确认收入（续）
倘资产控制权随著时间渡过而
转移，则参照完成清偿履约责任
的进度于合约期内确认收入。否
则，于客户取得资产控制权的某
一时间点确认收入。有关收入确
认的特定准则于下文阐述。
完全履行履约责任的进度乃根据
下列其中一种最能描述本集团履
行履约责任的表现的方法计量：
• 直接计量本集团向客户转移
的价值；或
• 本集团履行履约责任所付出
努力或投入（相对预期努力
或投入总额）。
(i) 提供泥水工程及建筑工程之
收入
于本集团的履约创建或改良
客户在资产被创建或改良时
就控制的资产或在建工程的
情况下，提供泥水工程收入
随时间确认。本集团已采用
投入法并参照本集团对达成
履约责任（例如分包费、材
料及工具成本）所作付出或
投入（相对于预期对达成履
约责任的总投入）随时间确
认建筑合约收入。
1552024/25 年期 • GC CONSTRUCTION HOLDINGS LIMITED
For the year ended 31 March 2025 截至2025年3月31日止年度
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
3 BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION
(continued)
3.2 Material acounting policy information
(continued)
3.2.9 Revenue from contracts with customers
(continued)
Overtime revenue recognition (continued)
(i) Revenue from provision of wet trades
works and construction works (continued)
The payment terms difered for diferent
customers due to the variety of projects. Most
of the payment is payable acording to the
stage of construction with credit term of 14–60
days. 5% of the contract price is recognised as
retention receivables, which would be paid after
the retention period expires. The Group does not
intend to give financing to customers and the
Group makes eforts to colect the receivables
and timely monitor the credit risk.
For construction contracts with fixed price, the
Group recognises the revenue in acordance
with the contract price on the basis of the
Group’s eforts or inputs to the satisfaction of
a performance obligation. The Group considers
the input method beter depicts the Group’s
performance in transfering control of services to
its customers.
The Group acounts for a modification if the
customers to a contract aprove a change in the
scope and/or the price of a contract. A contract
modification is aproved when the modification
creates or changes the enforceable rights and
obligations of the customers to the contract. If
the customers have aproved a change in scope
but have not yet determined the coresponding
change in price, the Group estimates the change
to the contract price as a variable consideration.
3 综合财务报表之编制基准及重大
会计政策资料（续）
3.2 重大会计政策资料（续）
3.2.9 来自客户合约的收益（续）
随时间确认收入（续）
(i) 提供泥水工程及建筑工程之
收入（续）
因应不同项目，不同客户的
支付条款有所不同。大部分
款项须根据施工阶段支付，
信贷期为14至 60天。合约
价的5%会被保留并确认为
应收保留金，须于保留期届
满后支付。本集团不拟向客
户提供融资，且将尽力收回
应收款项和及时监督信贷风
险。
就固定价格的建筑合约而
言，本集团根据合约价格基
于本集团为履行履约义务而
付出的努力或投入确认收
入。本集团认为投入法可更
好地描述本集团向其客户转
移服务控制权的履约情况。
倘合约客户批准变更合约
范围及╱或价格，则本集团
会进行修改。当修改创造或
改变客户对合约的可执行
权利及义务时，合约修改获
批准。倘客户已批准范围变
动，但尚未厘定相应价格变
动，本集团将合约价格变动
作为可变代价估计。
156GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
For the year ended 31 March 2025 截至2025年3月31日止年度
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
3 BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION
(continued)
3.2 Material acounting policy information
(continued)
3.2.9 Revenue from contracts with customers
(continued)
Overtime revenue recognition (continued)
(i) Revenue from provision of wet trades
works and construction works (continued)
For construction contracts that contain variable
consideration such as variations in contract
work, the Group estimates the amount of
consideration to which it wil be entitled using
the expected value method. The estimated
amount of variable consideration is included in
the construction contract only to the extent that
it is highly probable that such an inclusion wil
not result in a significant revenue reversal in the
future when the uncertainty asociated with the
variable consideration is subsequently resolved.
At the end of each reporting period, the
Group updates the estimated transaction
price (including updating its asesment of
whether an estimate of variable consideration
is constrained) to represent faithfuly
the circumstances present at the end of
the reporting period and the changes in
circumstances during the reporting period.
3.2.10 Contract asets and contract liabilities
A contract aset represents the Group’s right to
consideration from customers in exchange for
the provision of wet trades works that the Group
has transfered to the customers that is not yet
unconditional. Contract asets arise when the Group
has provided the wet trades works and other wet
trades related ancilary works under the relevant
contracts but the works have yet to be certified by
architects, quantity surveyors or other representatives
apointed by the customers and/or the Group’s right
to payment is stil conditional on factors other than
pasage of time. Any amount previously recognised as
a contract aset is reclasified to trade receivables at
the point when the Group’s right to payment becomes
unconditional other than pasage of time.
3 综合财务报表之编制基准及重大
会计政策资料（续）
3.2 重大会计政策资料（续）
3.2.9 来自客户合约的收益（续）
随时间确认收入（续）
(i) 提供泥水工程及建筑工程之
收入（续）
对于包含可变代价（如合约
工程的变动）的建筑合约，
本集团使用预期价值法估计
其有权收取的代价金额。仅
于当与可变代价相关的不确
定因素随后获解决，有关金
额计入于未来不会导致重大
收入拨回时，可变代价的估
计金额将计入建筑合约。
于各报告期末，本集团更新
估计交易价（包括更新其对
估计可变代价是否受限制之
评估），以真实反映于报告
期末存在的情况及于报告期
内的情况变动。
3.2.10 合约资产及合约负债
合约资产代表本集团有权要求客
户支付代价，以换取本集团已转
移予客户而尚未成为无条件的泥
水工程供应。当本集团提供相关
合约项下泥水工程及其他泥水相
关配套工程，但工程尚未由建筑
师、工料测量师或客户委任的其
他代表认证时，及╱或当本集团
的付款权利仍有因素（除时间推
移以外）使之为有条件时，合约
资产即产生。任何先前确认为合
约资产的金额于本集团收取付款
的权利变为无条件时（除时间推
移以外）重新分类至贸易应收款
项。
1572024/25 年期 • GC CONSTRUCTION HOLDINGS LIMITED
For the year ended 31 March 2025 截至2025年3月31日止年度
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
3 BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION
(continued)
3.2 Material acounting policy information
(continued)
3.2.10 Contract asets and contract liabilities
(continued)
In acordance with the terms of the contracts entered
into with customers, the Group is required to submit
to customers payment aplications for the value
of work done under the contracts along with any
variation orders performed. Customers wil setle
normaly in 14–60 days after certifying the monthly
payment aplications based on their asesment of
work done by the Group. Customers usualy retain
an amount up to 10% of the value of work done,
subject to a maximum limit of 5% of the contract sum
as retention money for the contract. The terms and
conditions in relation to the release of retention vary
from contract to contract, which is subject to practical
completion, the expiry of the defect liability period
and the discusion of final acounts.
Contract asets are asesed for impairment under the
same aproach adopted for impairment asesment
of financial asets caried at amortised cost.
A contract liability represents the Group’s obligation
to transfer the aforesaid services to a customer for
which the Group has received consideration (or an
amount of consideration is due) from the customer.
3 综合财务报表之编制基准及重大
会计政策资料（续）
3.2 重大会计政策资料（续）
3.2.10 合约资产及合约负债（续）
根据与客户订立合约的条款，本
集团须就根据合约完成的工程连
同所履行的任何变更工程指令之
价值向客户提交付款申请。客户
一般将于根据彼等对本集团所完
成工程的评估认证每月付款申请
后14至60天进行结算。客户通常
会保留不超过已完成工程价值的
10%金额（惟不可超过合约金额
的 5%）以作为合约保留金。有关
发放保留金的条款及条件因合约
而异，乃取决于实际竣工、缺陷
责任期的届满，以及对最终账目
的讨论。
合约资产按以摊销成本列账的金
融资产采取的相同减值评估方式
评估减值。
合约负债表示本集团有责任将上
述服务转让予客户，而本集团已
收到该客户的代价（或到期支付
的代价）。
158GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
For the year ended 31 March 2025 截至2025年3月31日止年度
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
3 BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION
(continued)
3.2 Material acounting policy information
(continued)
3.2.11 Provisions
Provisions are recognised when the Group has a
present legal or constructive obligation as a result of
past events; it is probable that an outflow of resources
wil be required to setle the obligation; and the
amount has ben reliably estimated. Provisions are
not recognised for future operating loses.
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.
3 综合财务报表之编制基准及重大
会计政策资料（续）
3.2 重大会计政策资料（续）
3.2.11 拨备
当本集团现时因过往事件而涉及
法律或推定责任，而履行责任可
能须耗用资源，且金额已被可靠
估计时，则会确认拨备。不对未
来经营亏损确认拨备。
倘有多项同类责任，会整体考虑
责任类别以厘定偿付时可能耗用
的资源。即使在同一责任类别所
涉及任何一个项目相关的资源流
出可能性极低，仍须确认拨备。
拨备按预期偿付责任所需开支以
除税前比率（反映当时市场对该
责任特定的货币时间值及风险的
评估）计算的现值计量。随时间
产生的拨备增加会被确认为利息
开支。
1592024/25 年期 • GC CONSTRUCTION HOLDINGS LIMITED
For the year ended 31 March 2025 截至2025年3月31日止年度
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
3 BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION
(continued)
3.2 Material acounting policy information
(continued)
3.2.12 Employe benefits
Short term employe benefits
Salaries, anual bonuses, paid anual leave and the
cost of non-monetary benefits are acrued in the
year in which the asociated services are rendered by
employes.
Retirement benefit costs
The Group operates a defined contribution
Mandatory Provident Fund retirement benefit scheme
(the “MPF Scheme”) under the Mandatory Provident
Fund Schemes Ordinance in Hong Kong for those
employes who are eligible to participate in the
MPF Scheme. Contributions are made based on a
percentage of the employes’ basic salaries and are
charged to profit or los as they become payable in
acordance with the rules of the MPF Scheme. The
asets of the MPF Scheme are held separately from
those of the Group in an independently administered
fund. The Group’s employer contributions vest fuly
with the employes when contributed into the MPF
Scheme.
There were no forfeited contributions utilised by the
Group to reduce existing level of contributions for
each of the years.
Long service payments
The Group’s employes in Hong Kong who
have completed the required number of years of
services to the Group are eligible for long service
payments under the Hong Kong Employment
Ordinance in the event of the termination of their
employment, provided that such termination mets
the circumstances specified in the Hong Kong
Employment Ordinance.
A provision is recognised in respect of the probable
future long service payments expected to be made.
The provision is based on the best estimate of the
probable future payments which have ben earned by
the employes from their services to the Group up to
the reporting date.
3 综合财务报表之编制基准及重大
会计政策资料（续）
3.2 重大会计政策资料（续）
3.2.12 雇员福利
短期雇员福利
薪酬、年度奖金、有薪年假及非
金钱性利益的成本将于雇员提供
相关服务的年度内计算。
退休福利成本
根据香港强制性公积金计划条
例，本集团为所有合资格参与强
制性公积金计划的雇员设立界定
供款强积金退休褔利计划（「强积
金计划」）。供款乃按雇员基本薪
金的百分比计算，并于根据强积
金计划的规定须作出供款时在损
益中扣除。强积金计划的资产以
独立管理基金形式持有，与本集
团的资产分开。本集团就强积金
计划支付的雇主供款于投入计划
起即全部归雇员所有。
本集团并无动用没收供款用于减
少各年度现有供款水平。
长期服务金
本集团于香港的雇员如已向本集
团服务达到规定年数，倘终止雇
佣，则彼等合资格根据香港雇佣
条例领取长期服务金，惟有关终
止雇佣的情况符合香港雇佣条例
指定的情况。
已就预期未来可能作出的长期服
务金付款确认拨备。有关拨备乃
按雇员截至报告日期为本集团所
作出服务赚取未来可能支付款项
的最佳估计算。
160GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
For the year ended 31 March 2025 截至2025年3月31日止年度
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
3 BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION
(continued)
3.2 Material acounting policy information
(continued)
3.2.13 Borowing costs
Borowing costs are expensed in the period in which
they are incured.
3.2.14 Foreign curencies
In preparing the financial statements of each
individual group entity, transactions in curencies
other than the functional curency of that entity
(foreign curencies) are recognised at the rates of
exchanges prevailing on the dates of the transactions.
At the end of the reporting period, monetary items
denominated in foreign curencies are retranslated at
the rates prevailing at that date.
Non-monetary items caried at fair value that are
denominated in foreign curencies are retranslated
at the rates prevailing on the date when the fair
value was determined. Non-monetary items that
are measured in terms of historical cost in a foreign
curency are not retranslated.
Exchange diferences arising on the setlement of
monetary items, and on the retranslation of monetary
items, are recognised in profit or los in the period in
which they arise.
3.2.15 Related parties
A party is considered to be related to the Group if:
(a) the party is a person or a close member of that
person’s family and that person
(i) has control or joint control over the Group;
(i) has significant influence over the Group; or
(i) is a member of the key management
personel of the Group or of a parent of
the Group;
or
3 综合财务报表之编制基准及重大
会计政策资料（续）
3.2 重大会计政策资料（续）
3.2.13 借款成本
借款成本均于产生期间支销。
3.2.14 外币
编制各个别集团公司的财务报表
时，以该公司功能货币以外货币
（外币）进行的交易按交易日之现
行汇率确认。于报告期末，以外
币为单位的货币项目以该日之适
用汇率重新换算。
以外币为单位并按公允值计算的
非货币项目按公允值厘定当日之
适用汇率重新换算。过往成本以
外币计算的非货币项目不予重新
换算。
货币项目结算及货币项目的重新
换算所产生之汇兑差额均于产生
期间计入损益。
3.2.15 关联方
在下列情况下，一方将被视为与
本集团有关：
(a) 该方为个体人士或该人士家
族近亲同该人士，
(i) 控制或共同控制本集
团；
(i) 对本集团有重大影响；
或
(i) 为本集团或本集团母公
司之主要管理层成员；
或
1612024/25 年期 • GC CONSTRUCTION HOLDINGS LIMITED
For the year ended 31 March 2025 截至2025年3月31日止年度
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
3 BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION
(continued)
3.2 Material acounting policy information
(continued)
3.2.15 Related parties (continued)
(b) the party is an entity where any of the folowing
conditions aplies:
(i) the entity and the Group are members of
the same group;
(i) one entity is an asociate or joint venture of
the other entity (or of a parent, subsidiary
or felow subsidiary of the other entity);
(i) the entity and the Group are joint ventures
of the same third party;
(iv) one entity is a joint venture of a third entity
and the other entity is an asociate of the
third entity;
(v) the entity is a post-employment benefit
plan for the benefit of employes of either
the Group or an entity related to the
Group;
(vi) the entity is controled or jointly-controled
by a person identified in (a);
(vi) a person identified in (a)(i) has significant
influence over the entity or is a member
of the key management personel of the
entity (or of a parent of the entity); and
(vi) the entity, or any member of a group
of which it is a part, provides key
management personel services to the
Group or to a parent of the Company.
Close members of the family of a person are
those family members who may be expected to
influence, or be influenced by, that person in
their dealings with the entity.
3 综合财务报表之编制基准及重大
会计政策资料（续）
3.2 重大会计政策资料（续）
3.2.15 关联方（续）
(b) 该方为实体且以下条件适用
于该方︰
(i) 实体与本集团为同一集
团之附属公司；
(i) 实体为另一实体（或另
一实体之母公司、附属
公司或同系附属公司）
之联营公司或合营企
业；
(i) 实体及本集团为同一第
三方之合营企业；
(iv) 实体为第三方实体之合
营企业且另一实体为第
三方之联营公司；
(v) 实体为本集团或与本集
团有关实体为其雇员利
益而设立终止雇用后福
利计划；
(vi) 实体受(a)所界定人士控
制或共同控制；
(vi) (a)(i)所界定人士对实体
有重大影响或为实体
（或实体之母公司）之
主要管理层成员；及
(vi) 实体或其所属集团的任
何成员公司向本集团或
本公司母公司提供主要
管理人员服务。
某一人士之密切家族成员指
预期可影响该人士与实体进
行买卖或于买卖时受该人士
影响的有关家族成员。
162GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
For the year ended 31 March 2025 截至2025年3月31日止年度
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
3 BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION
(continued)
3.2 Material acounting policy information
(continued)
3.2.16 Segment reporting
Operating segment is reported in a maner consistent
with the internal reporting provided to the chief
operating decision-maker. The chief operating
decision-maker, who is responsible for alocating
resources and asesing performance of the operating
segments, has ben identified as the executive
directors of the Group that makes strategic decisions.
4 SIGNIFICANT ACOUNTING ESTIMATES
AND JUDGEMENTS
In the adoption of the Group’s acounting policies, the directors
are required to make judgments, estimates and asumptions
about the carying amounts of asets and liabilities that are not
readily aparent from other sources.
The estimates and asociated asumptions are based on
historical experience and other factors that are considered to be
relevant. Actual results difer from these estimates.
The estimates and underlying asumptions are reviewed on an
ongoing basis. Revisions to acounting estimates are recognised
in the year in which the estimate is revised if the revision afects
only that period, or in the year of the revision and future periods
if the revision afects both curent and future periods.
3 综合财务报表之编制基准及重大
会计政策资料（续）
3.2 重大会计政策资料（续）
3.2.16 分部报告
经营分部乃以与向主要营运决策
者提交内部报告一致的方式呈
报。负责分配资源及评估经营分
部表现的主要营运决策者被视为
作出策略性决定的本集团执行董
事。
4 重大会计估计及判断
于采纳本集团的会计政策时，董事须就有
关未能从其他来源轻易获得之资产及负债
账面值作出判断、估计及假设。
估计及相关假设乃基于过往经验及被认为
有关之其他因素作出。实际业绩可能有别
于该等估计。
估计及相关假设予以不断检讨。倘修订会
计估计只影响修订估计期间，则会于该年
度确认会计估计的修订，或倘有关修订影
响现时及未来期间，则会于修订的年度及
未来期间确认会计估计的修订。
1632024/25 年期 • GC CONSTRUCTION HOLDINGS LIMITED
For the year ended 31 March 2025 截至2025年3月31日止年度
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
4 SIGNIFICANT ACOUNTING ESTIMATES
AND JUDGEMENTS (continued)
Key sources of estimation uncertainty
In adition to information disclosed elsewhere in these
consolidated financial statements, other key sources of
estimation uncertainty that have a significant risk of resulting
a material adjustment to the carying amounts of asets and
liabilities within next financial year are as folows:
(a) Revenue recognition
The Group recognises revenue acording to the progres
towards complete satisfaction of performance obligation
of the individual contract of wet trade works and
construction works. The progres is determined by the
agregated cost for the individual performance obligation
incured at the end of the reporting period compared with
the estimated budgeted cost. Management’s estimation
of the cost incured to date and the budgeted cost is
primarily based on construction contract budget and actual
cost report prepared by internal quantity surveyors, where
aplicable. Coresponding revenue from contract work is
also estimated by management based on the progres and
estimated revenue which contains variable consideration.
Because of the nature of the activities undertaken in the
construction contracts, the date at which the contract
activity is entered into and the date when the activity is
completed usualy fal into diferent acounting periods.
The Group regularly reviews and revises the estimation
of both transaction price and contract cost in the budget
prepared for each construction contract as the contract
progreses.
Judgement is required in estimating the total contract costs
which may have an impact on percentage of completion
of the construction contracts and profit to be recognised
in an acounting period. In adition, actual outcome in
terms of total revenue or costs may be higher or lower than
estimation at the end of the reporting period, which would
afect the revenue and profit recognised in future years as
an adjustment to the amounts recorded to date.
4 关键会计估计及判断（续）
估计不确定性的主要来源
除该等综合财务报表其他部分所披露的资
料外，以下是其他估计不确定性的主要来
源，其对资产和负债的账面值在下个财务
年度内作出重大调整有显著风险：
(a) 收入确认
本集团根据完全达成个别泥水工程及
建造工程合约的履约责任的进度确认
收入。有关进度按个别履约责任于报
告期末产生的总成本与估计预算成本
之比例厘定。管理层对迄今已产生成
本及预算成本的估计主要依据内部工
料测量师编制的建筑合约预算及实际
成本报告（倘适用）而作出。管理层亦
按进度及估计收入（包含可变代价）对
合约工程的相应收入作出估计。由于
建筑合约内进行活动的性质，合约活
动的订立日期与活动的完工日期通常
属于不同的会计期间。本集团于合约
进行期间内对为各建筑合约编制的预
算内交易价格及合约成本的估计作出
定期检讨及修订。
于估计总合约成本时须作出判断，或
会对建筑合约的完工百分比以及将于
某一会计期间确认的溢利造成影响。
此外，就总收入或成本而言的实际结
果可能会高于或低于报告期末的估
计，可能会影响于未来年度确认收入
及溢利作为对迄今已入账金额的调整。
164GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
For the year ended 31 March 2025 截至2025年3月31日止年度
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
4 SIGNIFICANT ACOUNTING ESTIMATES
AND JUDGEMENTS (continued)
Key sources of estimation uncertainty (continued)
(b) Provision of ECL for trade receivables and
contract asets
The Group uses provision matrix to calculate ECL for the
trade receivables and contract asets. The provision rates
are based on aging of debtors as groupings of various
debtors taking into consideration the Group’s historical
default rates and forward-loking information that is
reasonable and suportable available without undue
costs or efort. At every reporting date, the historical
observed default rates are reasesed and changes in the
forward-loking information are considered. In adition,
trade receivables and contract asets with significant
balances and credit-impaired are asesed for ECL
individualy.
The provision of ECL is sensitive to changes in estimates.
The information about the ECL and the Group’s trade
receivables and contract asets are disclosed in note
29(b)(i).
5 REVENUE AND SEGMENT INFORMATION
The executive directors are identified as the chief operating
decision makers (“CODM”) of the Group who review the
Group’s internal reporting in order to ases performance and
alocate resources.
The Group’s revenue is derived from provision of wet trades
works in Hong Kong and construction works in Cambodia. There
is only one operating segment for the Group under HKFRS 8.
4 关键会计估计及判断（续）
估计不确定性的主要来源（续）
(b) 贸易应收款项及合约资产减值
本集团使用拨备矩阵计算贸易应收款
项及合约资产的预期信贷亏损。拨备
率基于按各种债务人分组的债务人账
龄，考虑到本集团的过往违约率及毋
须过多成本或努力即可获得的合理可
靠的前瞻性资料。于每个报告日，重
新评估观察过往违约率，并考虑前瞻
性资料的变动。此外，就预期信贷亏
损个别评估具有重大结余和信用减值
的贸易应收款项及合约资产。
预期信贷亏损拨备会紧随估值变化而
变化。有关预期信贷亏损及本集团贸
易应收款项及合约资产的资料于附注
29(b)(i)披露。
5 收入及分部资料
执行董事被认定为本集团主要经营决策者
（「主要经营决策者」），负责审核本集团内
部报告以评估绩效及分配资源。
本集团的收入来自于在香港提供的泥水工
程及柬埔寨的建造工程。根据香港财务报
告准则第8号，本集团仅有一个经营分部。
| Year ended 31 March | |||
|---|---|---|---|
| 截至3月31日止年度 | |||
| 2025 | 2024 | ||
| 2025年 | 2024年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| 508,479 | |||
| 22,178 | |||
| 530,657 | |||
| Year ended 31 March | |||
|---|---|---|---|
| 截至3月31日止年度 | |||
| 2025 | 2024 | ||
| 2025年 | 2024年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| 69,909 | |||
| 61,131 | |||
| 59,464 | |||
| N/A不适用* | |||
| N/A不适用* | |||
1652024/25 年期 • GC CONSTRUCTION HOLDINGS LIMITED
For the year ended 31 March 2025 截至2025年3月31日止年度
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
5 REVENUE AND SEGMENT INFORMATION
(continued)
(a) Revenue
Al of the Group’s revenue is recognised over time.
(b) Revenue from major customers
Revenue individualy generated from the folowing
customers contributed more than 10% of the total
revenue of the Group:
- % of revenue for the respective year.
Geographical information
During the year ended 31 March 2025, over 95% (2024:
al) the Group’s revenue are the from external customers
located in Hong Kong.
5 收入及分部资料（续）
(a) 收入
本集团所有的收入均于一段时间内确
认。
(b) 来自主要客户的收入
以下客户个别产生的收入为本集团总
收入贡献10%以上：
- %。
地理信息
截至2025年3月31日止年度，本集团
收入超过95%（2024年：全部）均来自
位于香港的外部客户。
| Year ended 31 March | |||
|---|---|---|---|
| 截至3月31日止年度 | |||
| 2025 | 2024 | ||
| 2025年 | 2024年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| 2,398 | |||
| As at 31 March | |||
|---|---|---|---|
| 于3月31日 | |||
| 2025 | 2024 | ||
| 2025年 | 2024年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| 343,290 | |||
166GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
For the year ended 31 March 2025 截至2025年3月31日止年度
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
5 REVENUE AND SEGMENT INFORMATION
(continued)
(c) Segment asets and liabilities
The Group monitors its total asets and liabilities centraly
in one single operating segment. Al of the Group’s
non-curent asets are located in Hong Kong for both
years.
(d) Revenue recognised in relation to contract
liabilities
The folowing table shows the revenue recognised related
to caried-forward contract liabilities.
(e) Transaction price alocated to the remaining
performance obligations
The folowing table shows unsatisfied performance
obligations resulting from long-term construction
contracts.
5 收入及分部资料（续）
(c) 分部资产及负债
本集团按单一经营分部集中监察总资
产及负债。两个年度内，本集团所有
非流动资产均位于香港。
(d) 就合约负债确认的收入
下表列示就结转合约负债确认的收入。
(e) 分配至剩余履约责任的交易价
格
下表列示长期建筑合约所产生的未履
行履约责任。
| As at 31 March | |||
|---|---|---|---|
| 于3月31日 | |||
| 2025 | 2024 | ||
| 2025年 | 2024年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| 179,541 | |||
| 163,749 | |||
| 343,290 | |||
| Year ended 31 March | |||
|---|---|---|---|
| 截至3月31日止年度 | |||
| 2025 | 2024 | ||
| 2025年 | 2024年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| 21 | |||
| 38 | |||
| 24 | |||
| 83 | |||
1672024/25 年期 • GC CONSTRUCTION HOLDINGS LIMITED
For the year ended 31 March 2025 截至2025年3月31日止年度
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
5 REVENUE AND SEGMENT INFORMATION
(continued)
(e) Transaction price alocated to the remaining
performance obligations (continued)
Management expects that the transaction prices regarding
the unsatisfied contracts at the end of year wil be
recognised as revenue by referencing to the schedule
below:
6 OTHER INCOME AND GAIN
Note:
(a) Amount represents wage subsidy granted under Youth
Employment and Training Programe (“YETP”). Funds are
granted to the Group for employing traines under the YETP. The
Group is entitled to HK$1,500 salary alowance per month for
each traine employed (2024: same).
5 收入及分部资料（续）
(e) 分配至剩余履约责任的交易价
格（续）
管理层预计，于年末有关未履行合约
的交易价格将参考以下时间表确认为
收入：
6 其他收入及收益
附注：
(a) 该金额指根据青年就业及培训计划（「青年
就业及培训计划」）发放的工资津贴。本集
团获拨款雇用青年就业及培训计划的受训
人员。本集团有权就每聘用一名受训人员
每月可领取1,500港元的薪金津贴（2024
年：相同）。
| Year ended 31 March | |||
|---|---|---|---|
| 截至3月31日止年度 | |||
| 2025 | 2024 | ||
| 2025年 | 2024年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| 43,327 | |||
| 980 | |||
| 1,688 | |||
| 496 | |||
| Year ended 31 March | |||
|---|---|---|---|
| 截至3月31日止年度 | |||
| 2025 | 2024 | ||
| 2025年 | 2024年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| 42,393 | |||
| 934 | |||
| 43,327 | |||
| 32,345 | |||
| 10,982 | |||
| 43,327 | |||
168GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
For the year ended 31 March 2025 截至2025年3月31日止年度
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
7 (LOS)/PROFIT BEFORE INCOME TAX
EXPENSE
8 EMPLOYE BENEFIT EXPENSE (INCLUDING
DIRECTORS’ REMUNERATION)
7 除所得税开支前（亏损）╱溢利
8 雇员福利开支（包括董事酬金）
| Name of directors | Fees | Salaries | Discretionary bonuses | Allowance and benefits in kind | Employer’s contribution to a retirement benefit scheme | Total | |
|---|---|---|---|---|---|---|---|
| 董事姓名 | 袍金 | 薪金 | 酌情花红 | 津贴及 实物福利 | 雇主向退休 福利计划供款 | 总计 | |
| HK$’000 | HK$’000 | HK$’000 | HK$’000 | HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | 千港元 | 千港元 | 千港元 | 千港元 | ||
| – | 3,224 | 315 | – | – | 3,539 | ||
| – | 1,014 | 162 | – | 18 | 1,194 | ||
| – | 567 | 37 | – | 18 | 622 | ||
| 140 | – | – | – | – | 140 | ||
| 140 | – | – | – | – | 140 | ||
| 140 | – | – | – | – | 140 | ||
| 180 | – | – | – | – | 180 | ||
| 600 | 4,805 | 514 | – | 36 | 5,955 | ||
1692024/25 年期 • GC CONSTRUCTION HOLDINGS LIMITED
For the year ended 31 March 2025 截至2025年3月31日止年度
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
9 BENEFITS AND INTERESTS OF DIRECTORS
(a) Directors’ emoluments
The remuneration of each director paid/payable for each
of the years ended 31 March 2025 and 2024 were set out
below:
For the year ended 31 March 2025
9 董事福利及利益
(a) 董事酬金
截至2025年及2024年3月31日止年度
各年，已付╱应付各董事薪酬载列如
下：
截至2025年3月31日止年度
| Name of directors | Fees | Salaries | Discretionary bonuses | Allowance and benefits in kind | Employer’s contribution to a retirement benefit scheme | Total | |
|---|---|---|---|---|---|---|---|
| 董事姓名 | 袍金 | 薪金 | 酌情花红 | 津贴及 实物福利 | 雇主向退休 福利计划供款 | 总计 | |
| HK$’000 | HK$’000 | HK$’000 | HK$’000 | HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | 千港元 | 千港元 | 千港元 | 千港元 | ||
170GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
For the year ended 31 March 2025 截至2025年3月31日止年度
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
9 BENEFITS AND INTERESTS OF DIRECTORS
(continued)
(a) Directors’ emoluments (continued)
For the year ended 31 March 2024
Executive director and chief
executive:
执行董事兼最高行政
人员：
Mr. KS Chan陈桥森先生–2,898522–53,425
Executive directors:执行董事：
Mr. WP Chan陈永平先生–888204–181,110
Ms. Chan Chui Ying (Note a)陈翠盈小姐（附注a）–83–386
Independent non-executive
directors:
独立非执行董事：
Dr. Huang Hong黄虹博士180–180
Mr. Yu Chi Wing于志荣先生180–180
Dr. Lo Ki Chiu卢其钊博士180–180
Dr. Luk Che Chung, JP
(Note a)
陆志聪医生，太平绅士
（附注a）30–30
Total总计5703,869726–265,191
Note:
(a) Apointed on 5 February 2024.
The remunerations shown above represent remunerations
received from the Group by these directors in their capacity
as employes to the Group and no directors waived any
emoluments during the year (2024: Nil).
9 董事福利及利益（续）
(a) 董事酬金（续）
截至2024年3月31日止年度
附注：
(a) 于2024年2月5日获委任。
上述薪酬指该等董事以其作为本集团
雇员身份自本集团收取的薪酬，于本
年度并无董事放弃任何酬金（2024年：
无）。
1712024/25 年期 • GC CONSTRUCTION HOLDINGS LIMITED
For the year ended 31 March 2025 截至2025年3月31日止年度
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
9 BENEFITS AND INTERESTS OF DIRECTORS
(continued)
(b) Directors’ termination benefits
No payment was made to the directors as compensation
for the early termination of the apointment during the
year (2024: Nil).
(c) Consideration provided to third parties for
making available directors’ services
No payment was made to the former employer of the
directors for making available the services of them as a
director of the Group during the year (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 were no loans, quasi-loans and other dealings in
favour of directors, controled bodies corporate by and
conected entities with such directors during the year
(2024: Nil).
(e) Directors’ material interests in transactions,
arangements or contracts
Other than those disclosed in Note 26, no significant
transactions, arangements and contracts in relation to
the Group’s busines to which the Group was a party and
in which directors of the Group had a material interest,
whether directly or indirectly, subsisted at the end of each
of the four years or at any time during the year (2024: Nil).
9 董事福利及利益（续）
(b) 董事离职福利
于本年度，概无向董事支付任何款项
作为提早终止委任的补偿（2024年：
无）。
(c) 就提供董事服务向第三方支付
的代价
于本年度，概无向董事的前任雇主支
付任何款项，令彼等以本集团董事的
身份提供服务（2024年：无）。
(d) 有关以董事、由有关董事控制
的法团及与其有关连之实体为
受益人之贷款、准贷款及其他
交易之资料
于本年度，概无以董事、由有关董事
控制的法团及与其有关连之实体为
受益人之贷款、准贷款及其他交易
（2024年：无）。
(e) 董事于交易、安排或合约中的
重大权益
除附注26 所披露者外，本集团概无
订立与本集团业务有关及本集团董事
于其中拥有直接或间接重大权益之于
四个年度各年末或本年度内任何时
间仍然存续的重大交易、安排及合约
（2024年：无）。
| Year ended 31 March | |||
|---|---|---|---|
| 截至3月31日止年度 | |||
| 2025 | 2024 | ||
| 2025年 | 2024年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| 1,641 | |||
| 738 | |||
| 53 | |||
| 2,432 | |||
172GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
For the year ended 31 March 2025 截至2025年3月31日止年度
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
9 BENEFITS AND INTERESTS OF DIRECTORS
(continued)
(f) Five highest paid individuals
For each of the years ended 31 March 2025 and 2024,
the five individuals whose emoluments were the highest
in the Group include the two (2024: two) directors, whose
emoluments were reflected in Note 9(a). The emoluments
paid to the remaining thre (2024: thre) individuals are as
folows:
9 董事福利及利益（续）
(f) 五名最高薪酬人士
截至2025年及2024年3月31日止年度
各年，本集团的五名最高薪酬人士
分别包括2名（2024年：2名）董事，
彼等之酬金于附注9(a)反映。余下3名
（2024年：3名）人士的酬金分别如下：
| Year ended 31 March | |||
|---|---|---|---|
| 截至3月31日止年度 | |||
| 2025 | 2024 | ||
| 2025年 | 2024年 | ||
| 3 | |||
| Year ended 31 March | |||
|---|---|---|---|
| 截至3月31日止年度 | |||
| 2025 | 2024 | ||
| 2025年 | 2024年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| 899 | |||
| (222) | |||
| (32) | |||
| (254) | |||
| 645 | |||
1732024/25 年期 • GC CONSTRUCTION HOLDINGS LIMITED
For the year ended 31 March 2025 截至2025年3月31日止年度
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
9 BENEFITS AND INTERESTS OF DIRECTORS
(continued)
(f) Five highest paid individuals (continued)
The emoluments of above individuals are within the
folowing bands:
No incentive payment for joining the Group or
compensation for los of ofice was paid or payable to any
of the five highest paid individuals during the year (2024:
Nil).
10 FINANCE INCOME, NET
9 董事福利及利益（续）
(f) 五名最高薪酬人士（续）
上述人士的酬金乃处于以下范围：
于本年度，概无向任何五名最高薪酬
人士支付或应付款项作为加入本集团
的奖金或离职补偿（2024年：无）。
10 财务收入净额
| Year ended 31 March | |||
|---|---|---|---|
| 截至3月31日止年度 | |||
| 2025 | 2024 | ||
| 2025年 | 2024年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| – | |||
| 405 | |||
| (61) | |||
| (115) | |||
| 229 | |||
174GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
For the year ended 31 March 2025 截至2025年3月31日止年度
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
11 INCOME TAX EXPENSE
Pursuant to the rules and regulations of the Cayman Islands
and the British Virgin Islands (the “BVI”), the Company and the
BVI-incorporated subsidiaries are not subject to any income tax
in the Cayman Islands and the BVI (2024: same).
The Group’s subsidiaries incorporated in Hong Kong are subject
to Hong Kong profits tax. Hong Kong profits tax is calculated
at 16.5% of the estimated asesable profits during the year
(2024: 16.5%), except for one entity that is qualified under the
two-tiered profits tax rate regime, under which the first HK$2.0
milion of its asesable profits are taxed at 8.25% and the
remaining asesable profits are taxed at 16.5%.
One subsidiary incorporated in Cambodia is subject to
Cambodia profit tax at 20% of the estimated asesable profits
during the year.
11 所得税开支
根据开曼群岛及英属处女群岛（「英属处女
群岛」）的规则及法规，本公司及于英属处
女群岛注册成立的附属公司均毋须缴纳开
曼群岛及英属处女群岛的任何所得税（2024
年：相同）。
本集团于香港注册成立的附属公司须缴
纳香港利得税。于本年度，香港利得税
乃按估计应课税溢利的16.5%（2024年：
16.5%）计算，惟一个实体符合利得税两
级制，据此其应课税溢利的首2.0百万港元
乃按8.25%计算，而余下应课税溢利则按
16.5%计算。
一家于柬埔寨注册成立的附属公司须缴纳
柬埔寨利得税，税率为年内估计应课税溢
利的 20%。
| Year ended 31 March | |||
|---|---|---|---|
| 截至3月31日止年度 | |||
| 2025 | 2024 | ||
| 2025年 | 2024年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| (53,242) | |||
| (8,785) | |||
| (312) | |||
| 5,666 | |||
| (61) | |||
| 3,649 | |||
| 72 | |||
| 229 | |||
| Year ended 31 March | |||
|---|---|---|---|
| 截至3月31日止年度 | |||
| 2025 | 2024 | ||
| 2025年 | 2024年 | ||
| (53,471) | |||
| 1,000,000 | |||
| (5.3) | |||
1752024/25 年期 • GC CONSTRUCTION HOLDINGS LIMITED
For the year ended 31 March 2025 截至2025年3月31日止年度
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
11 INCOME TAX EXPENSE (continued)
12 (LOS)/EARNINGS PER SHARE
Basic (los)/earnings per share is calculated by dividing the (los)/
profit atributable to owners of the Company by the weighted
average number of ordinary shares in isue during the year.
Diluted (los)/earnings per share for the year ended 31 March
2025 were the same as the basic (los)/earnings per share as
there was no dilutive potential ordinary shares outstanding
during the year (2024: same).
13 DIVIDEND
No dividend has ben paid or declared by the Company for the
year (2024: Nil).
11 所得税开支（续）
12 每股（亏损）╱盈利
每股基本（亏损）╱盈利乃按本公司拥有人
应占（亏损）╱溢利除以本年度已发行普通
股加权平均数计算。
截至2025年3月31日止年度的每股摊薄（亏
损）╱盈利与每股基本（亏损）╱盈利相同，
乃由于年内并无发行在外的摊薄潜在普通
股（2024年：相同）。
13 股息
于本年度，本公司并无派付或宣派任何股
息（2024年：无）。
| Office equipment and furniture | Machinery | Motor vehicles | Total | ||
|---|---|---|---|---|---|
| 办公设备及家具 | 机械 | 汽车 | 总计 | ||
| HK$’000 | HK$’000 | HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | 千港元 | 千港元 |
| 117 | 2,212 | 1,479 | 3,808 |
|---|---|---|---|
| 20 | 253 | – | 273 |
| – | – | (662) | (662) |
| (56) | (1,133) | (499) | (1,688) |
| – | – | 662 | 662 |
| 81 | 1,332 | 980 | 2,393 |
| 907 | 7,442 | 2,369 | 10,718 |
| (826) | (6,110) | (1,389) | (8,325) |
| 81 | 1,332 | 980 | 2,393 |
176GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
For the year ended 31 March 2025 截至2025年3月31日止年度
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
14 PLANT AND EQUIPMENT
千港元千港元千港元千港元
At 1 April 2023于2023年4月1日
Cost成本8816,2221,5218,624
Acumulated depreciation累计折旧(710)(3,766)(1,035)(5,511)
Net bok amount账面净值1712,4564863,113
Year ended 31 March 2024截至2024年3月31日止年度
Opening net bok amount年初账面净值1712,4564863,113
Adition for the year年内添置69671,4722,445
Depreciation charge (Note 7)折旧支出（附注7）(60)(1,211)(479)(1,750)
Closing net bok amount年末账面净值1172,2121,4793,808
At 31 March 2024 and
1 April 2024
于2024年3月31日及
2024年4月1日
Cost成本8877,1892,99311,069
Acumulated depreciation累计折旧(770)(4,977)(1,514)(7,261)
Net bok amount账面净值1172,2121,4793,808
Year ended 31 March 2025截至2025年3月31日止年度
Opening net bok amount年初账面净值
Adition for the year年内添置
Disposal for the year年内出售
Depreciation charge (Note 7)折旧支出（附注7）
Eliminated on disposal出售之对销
Closing net bok amount年末账面净值
At 31 March 2025于2025年3月31日
Cost成本
Acumulated depreciation累计折旧
Net bok amount账面净值
14 厂房及设备
| Year ended 31 March | |||
|---|---|---|---|
| 截至3月31日止年度 | |||
| 2025 | 2024 | ||
| 2025年 | 2024年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| 1,133 | |||
| 555 | |||
| 1,688 | |||
| Leased | ||
|---|---|---|
| premises | ||
| 租赁物业 | ||
| HK$’000 | ||
| 千港元 |
| 331 |
|---|
| 496 |
|---|
| Year ended 31 March | |||
|---|---|---|---|
| 于3月31日 | |||
| 2025 | 2024 | ||
| 2025年 | 2024年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| 568 | |||
| – | |||
| 1,957 | |||
1772024/25 年期 • GC CONSTRUCTION HOLDINGS LIMITED
For the year ended 31 March 2025 截至2025年3月31日止年度
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
14 PLANT AND EQUIPMENT (continued)
Depreciation of the Group’s plant and equipment are
recognised as folows:
15 RIGHT-OF-USE ASETS
千港元
At 31 March 2024于2024年3月31日
Carying amount账面值827
At 31 March 2025于2025年3月31日
Carying amount账面值
For the year ended 31 March 2024截至2024年3月31日止年度
Depreciation charge (Note 7)折旧支出（附注7）493
For the year ended 31 March 2025截至2025年3月31日止年度
Depreciation charge (Note 7)折旧支出（附注7）
14 厂房及设备（续）
本集团厂房及设备折旧乃确认如下：
15 使用权资产
| As at 31 March | |||
|---|---|---|---|
| 于3月31日 | |||
| 2025 | 2024 | ||
| 2025年 | 2024年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| 201 | |||
| Accelerated | ||
|---|---|---|
| tax | ||
| depreciation | ||
| 加速税项折旧 | ||
| HK$’000 | ||
| 千港元 |
| 316 |
|---|
| (115) |
| 201 |
178GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
For the year ended 31 March 2025 截至2025年3月31日止年度
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
15 RIGHT-OF-USE ASETS (continued)
The right-of-use asets represent the Group’s rights to use
underlying leased premises under lease arangements for 2
years (2024: 2 years). They are stated at cost les acumulated
depreciation and acumulated impairment loses.
16 DEFERED TAX LIABILITIES
Defered tax asets and liabilities are ofset when there is a
legaly enforceable right to ofset curent income tax recoverable
against curent income tax liabilities and when the defered
tax asets and liabilities relate to income tax levied by the same
taxation authority on either the taxable entity or diferent
taxable entities where there is an intention to setle the balances
on a net basis. The ofset amounts are as folows:
The movements in defered tax liabilities, without taking into
consideration the ofseting of balances within the same tax
jurisdiction, are as folows:
千港元
At 1 April 2023于2023年4月1日320
Credited to the consolidated statement of
comprehensive income (Note 11)
计入综合全面收入表（附注11）
(4)
At 31 March 2024于 2024年3月31日316
At 1 April 2024于2024年4月1日
Credited to the consolidated statement of
comprehensive income (Note 11)
计入综合全面收入表（附注11）
At 31 March 2025于 2025年3月31日
As at 31 March 2025, there is no significant unrecognised
defered tax for the Group (2024: same).
15 使用权资产（续）
使用权资产指本集团根据租赁安排于两年
（2024年：两年）内使用相关租赁物业的权
利。该等使用权资产乃按成本减累计折旧
及累计减值亏损列账。
16 递延税项负债
当有法定可强制执行权利将可收回即期所
得税与即期所得税负债抵销及当递延税项
资产及负债与同一税务机关就该应课税实
体或不同应课税实体征收的所得税有关且
有关实体拟按净额基准结算结余时，则抵
销递延税项资产与负债。抵销金额如下：
未经计及在相同司法权区内抵销结余，递
延税项负债的变动如下：
于2025年3月31日，本集团并无任何重大未
确认递延税项（2024年：相同）。
| As at 31 March | |||
|---|---|---|---|
| 于3月31日 | |||
| 2025 | 2024 | ||
| 2025年 | 2024年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| 89,368 | |||
| (5,609) | |||
| 83,759 | |||
| As at 31 March | |||
|---|---|---|---|
| 于3月31日 | |||
| 2025 | 2024 | ||
| 2025年 | 2024年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| 49,719 | |||
| 15,915 | |||
| 23,734 | |||
| 89,368 | |||
1792024/25 年期 • GC CONSTRUCTION HOLDINGS LIMITED
For the year ended 31 March 2025 截至2025年3月31日止年度
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
16 DEFERED TAX LIABILITIES (continued)
At the end of the reporting period, the Group has unused
tax loses of aproximately HK$21,869,000 (2024: HK$Nil)
available for ofset against future profits. No defered tax aset
has ben recognised due to the unpredictability of future profit
streams.
17 TRADE AND OTHER RECEIVABLES
(a) Trade receivables
The ageing analysis of the gros trade receivables based on
invoice date is as folows:
The credit terms provided to customers range from 14 days
to 60 days. The Group’s trade receivables are denominated
in HK$ (2024: same).
Details of impairment asesment on trade receivables is
set out in Note 29(b)(i).
16 递延税项负债（续）
于报告期末，本集团有未动用税项亏损约
21,869,000港元（2024年：零港元）可用作
抵销未来溢利。由于无法预测未来溢利来
源，故并无确认递延税项资产。
17 贸易及其他应收款项
(a) 贸易应收款项
贸易应收款项总额按发票日期呈列之
账龄分析如下：
提供予客户的信贷期介乎14 日至60
日。本集团的贸易应收款项乃以港元
计值（2024年：相同）。
贸易应收款项减值评估详情载于附注
29(b)(i)。
| As at 31 March | |||
|---|---|---|---|
| 于3月31日 | |||
| 2025 | 2024 | ||
| 2025年 | 2024年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| 23 | |||
| 82 | |||
| 3,326 | |||
| – | |||
| 1,580 | |||
| 5,011 | |||
| – | |||
| 5,011 | |||
180GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
For the year ended 31 March 2025 截至2025年3月31日止年度
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
17 TRADE AND OTHER RECEIVABLES (continued)
(b) Other receivables, deposits and
prepayments
Note: The balance mainly represented advance payment paid out
by the Group in relation to the claims from work acidents
which is expected to be recovered by the Group from the
main contractors under the relevant insurance policy and
arangements with the main contractors as wel as industry
practice (2024: same).
The Group’s other receivables and deposits are
denominated in HK$ (2024: same). None of the other
receivables and deposits was impaired.
17 贸易及其他应收款项（续）
(b) 其他应收款项、按金及预付款
项
附注： 结余主要为本集团就工伤事故索赔
支付的预付款项，预计本集团根据
相关保险单及与总承建商的安排以
及行业惯例自总承建商收回（2024
年：相同）。
本集团的其他应收款项及按金乃以港
元计值（2024年：相同）。概无其他应
收款项及按金出现减值。
| As at 31 March | |||
|---|---|---|---|
| 于3月31日 | |||
| 2025 | 2024 | ||
| 2025年 | 2024年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| 146,554 | |||
| 91,252 | |||
| 237,806 | |||
| (29,408) | |||
| 208,398 | |||
| (1,641) | |||
| As at 31 March | |||
|---|---|---|---|
| 于3月31日 | |||
| 2025 | 2024 | ||
| 2025年 | 2024年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| 146,554 | |||
| (1,641) | |||
1812024/25 年期 • GC CONSTRUCTION HOLDINGS LIMITED
For the year ended 31 March 2025 截至2025年3月31日止年度
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
18 CONTRACT ASETS AND CONTRACT
LIABILITIES
Included in contract asets/(liabilities) are the folowing:
C
U
R
L
Notes:
(a) The Group clasifies these contract asets and liabilities as curent
because the Group expects to realise them in its normal operating
cycle.
(b) The setlement analysis of unbiled revenue and contract liabilities
based on project cycle was as folows:
U
T
C
T
18 合约资产及合约负债
计入合约资产╱（负债）如下：
附注：
(a) 本集团将该等合约资产及负债分类为流
动，因为本集团预计在其正常经营周期内
将其变现。
(b) 未开票收入及合约负债按项目周期结算分
析如下：
| As at 31 March | |||
|---|---|---|---|
| 于3月31日 | |||
| 2025 | 2024 | ||
| 2025年 | 2024年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| 54,291 | |||
| 36,961 | |||
| 91,252 | |||
182GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
For the year ended 31 March 2025 截至2025年3月31日止年度
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
18 CONTRACT ASETS AND CONTRACT
LIABILITIES (continued)
Notes: (continued)
(c) Retention receivables are setled in acordance with the terms of
the respective contracts. The terms and conditions in relation to
the release of retention vary from contract to contract, which is
subject to practical completion, the expiry of the defect liability
period or a pre-agred time period. In the consolidated statement
of financial position, retention receivables were clasified as
curent asets based on its normal operating cycle. The setlement
analysis of these retention receivables based on the terms of
related contracts was as folows:
T
T
Significant changes in contract asets and liabilities
Contract asets have increased as the Group has provided
more construction services ahead of the right to payment upon
receiving certification from quality surveyors for construction
contracts. The Group also aplied the simplified aproach
to provide for expected credit loses prescribed by HKFRS 9,
which permits the use of the lifetime expected los provision for
contract asets.
Contract liabilities for the construction contracts decreased
(2024: decreased) due to the decrease (2024: decrease) in
receipt in advance on overal contract activities.
Details of impairment asesment on contract asets is set out in
Note 29(b)(i).
18 合约资产及合约负债（续）
附注：（续）
(c) 应收保留金根据各自合约条款予以结算。
解除保留金的条款及条件视乎各合约（需
根据实际完成、缺陷责任期届满或预定期
间而定）而有所不同。于综合财务状况表
中，应收保留金基于正常经营周期分类为
流动资产。基于相关合约条款的该等应收
保留金结算分析如下：
合约资产及负债的重大变动
由于本集团于取得工料测量师对建筑合约
的验证后付款的权利之前已提供更多建造
服务，故合约资产有所增加。本集团亦应
用香港财务报告准则第9号所订明的简化方
法就预期信贷亏损作出拨备，该准则允许
就合约资产采用全期预期亏损拨备。
建筑合约的合约负债有所减少（2024年：
减少），乃由于整体合约活动的预收款项减
少（2024年：减少）。
合约资产减值评估详情载于附注29(b)(i)。
| As at 31 March | |||
|---|---|---|---|
| 于3月31日 | |||
| 2025 | 2024 | ||
| 2025年 | 2024年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| 18,762 | |||
| – | |||
| (8,785) | |||
| 9,977 | |||
| 18,762 | |||
1832024/25 年期 • GC CONSTRUCTION HOLDINGS LIMITED
For the year ended 31 March 2025 截至2025年3月31日止年度
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
19 CASH AND CASH EQUIVALENTS AND
SHORT-TERM BANK DEPOSIT
C
S
B
Note: Interest rates of short-term bank deposit are aproximately
4.36% per anum in 2024.
Al cash and cash equivalents and short-term bank deposit are
denominated in HK$ (2024: same).
In the consolidated statement of cash flows, cash and cash
equivalents include cash in hand, deposits held at cal with
banks, bank deposit with original maturities of thre months or
les net of bank overdraft.
19 现金及现金等价物以及短期银行
存款
附注： 2024年短期银行存款的年利率约为
4.36%。
所有现金及现金等价物以及短期银行存款
乃以港元计值（2024年：相同）。
在综合现金流量表中，现金及现金等价物
包括手头现金、存于银行的通知存款、原
本到期日为三个月或更短的银行存款减银
行透支。
| As at 31 March | |||
|---|---|---|---|
| 于3月31日 | |||
| 2025 | 2024 | ||
| 2025年 | 2024年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| 20,487 | |||
| 13,005 | |||
| 2,224 | |||
| 1,999 | |||
| 17,228 | |||
| 37,715 | |||
| As at 31 March | |||
|---|---|---|---|
| 于3月31日 | |||
| 2025 | 2024 | ||
| 2025年 | 2024年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| 20,487 | |||
184GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
For the year ended 31 March 2025 截至2025年3月31日止年度
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
20 TRADE AND OTHER PAYABLES
T
A
–
–
–
The trade and other payables are denominated in HK$ and the
carying amounts aproximate their fair values (2024: same).
The ageing analysis of the trade payables based on invoice date
is as folows:
W
20 贸易及其他应付款项
贸易及其他应付款项乃以港元计值，且账
面值与其公平值相若（2024年：相同）。
贸易应付款项根据发票日期的账龄分析如
下：
| As at 31 March | |||
|---|---|---|---|
| 于3月31日 | |||
| 2025 | 2024 | ||
| 2025年 | 2024年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| 8,785 | |||
| As at 31 March | |||
|---|---|---|---|
| 于3月31日 | |||
| 2025 | 2024 | ||
| 2025年 | 2024年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| 8,785 | |||
| As at 31 March | |||
|---|---|---|---|
| 于3月31日 | |||
| 2025 | 2024 | ||
| 2025年 | 2024年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| 6,215 | |||
1852024/25 年期 • GC CONSTRUCTION HOLDINGS LIMITED
For the year ended 31 March 2025 截至2025年3月31日止年度
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
21 BANK BOROWINGS
C
–
For the year ended 31 March 2025, the Group obtained
overdraft facility amounted to HK$15,000,000 (2024:
HK$15,000,000) guaranted by corporate guarante of the
Company.
The bank overdraft are denominated in HK$ and bear interest at
floating rates that are market dependent.
The table below analyses the bank overdraft of the Group into
relevant maturity groupings based on the remaining period at
the year end to the contractual maturity date without taking
into consideration the efect of repayment on demand clause.
B
W
The carying amounts of the bank overdraft aproximate their
fair values. As at 31 March 2025, the weighted average interest
rates are 4.93% per anum.
The Group has the folowing undrawn bank facilities consisting
of bank overdrafts and revolving loan:
F
21 银行借款
截至2025年3月31日止年度，本集团取得
15,000,000港元（2024年：15,000,000港
元）之透支额度，并由本公司的公司担保作
担保。
银行透支乃以港元计值，并按市场依赖的
浮动利率计息。
下表于年末余下期间至合约到期日本集团
按相关到期日组别划分的银行透支分析，
当中并无计及按要求偿还条款的影响。
银行透支账面值与其公平值相若。于2025
年3月31日，加权平均年利率为4.93%。
本集团未提取的银行融资（包括银行透支及
循环贷款）如下：
| As at 31 March | |||
|---|---|---|---|
| 于3月31日 | |||
| 2025 | 2024 | ||
| 2025年 | 2024年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| 370 | |||
| – | |||
| 370 | |||
| (370) | |||
| – | |||
| Number of ordinary shares | Equivalent nominal value of ordinary share | ||
|---|---|---|---|
| 普通股数目 | 普通股 面值等值 | ||
| HK$’000 | |||
| 千港元 | |||
186GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
For the year ended 31 March 2025 截至2025年3月31日止年度
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
22 AMOUNT DUE FROM IMEDIATE HOLDING
COMPANY
The amount was unsecured, interest-fre and repayable on
demand.
23 LEASE LIABILITIES
The weighted average incremental borowing rates aplied to
lease liabilities is 4.3% (2024: 4.3%).
24 SHARE CAPITAL, CAPITAL RESERVE AND
RESERVES
Share capital
Authorised ordinary shares of HK$0.01
each:
法定每股面值0.01港元的
普通股：
Balance at 1 April 2023, 31 March 2024 and
31 March 2025
于2023年4月1日、2024年
3月31日及2025年3月31日
的结余10,000,000,000100,000
Isued ordinary shares of HK$0.01 each:已发行每股面值0.01港元的
普通股：
Balance at 1 April 2023, 31 March 2024 and
31 March 2025
于2023年4月1日、2024年
3月31日及2025年3月31日
的结余1,000,000,00010,000
22 应收直接控股公司款项
该款项为无抵押、不计息及按要求偿还。
23 租赁负债
适用于租赁负债的加权平均增量借款利率
为4.3%（2024年：4.3%）。
24 股本、股本储备及储备
股本
| Name of subsidiaries | Place of incorporation/ establishment, operations and type of legal entity | Issued and fully paid up capital | Attributable equity interest to the Group | Principal activities | |
|---|---|---|---|---|---|
| 附属公司名称 | 注册成立╱成立、营运 地点及法律实体类型 | 已发行及 缴足股本 | 本集团应占股权 | 主营业务 | |
| 2025 | 2024 | ||||
| 2025年 | 2024年 | ||||
| 100% | |||||
| 100% | |||||
| 100% | |||||
| 100% | |||||
| 100% | |||||
1872024/25 年期 • GC CONSTRUCTION HOLDINGS LIMITED
For the year ended 31 March 2025 截至2025年3月31日止年度
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
25 INTERESTS IN SUBSIDIARIES
The folowing is a list of the subsidiaries held directly or indirectly
by the Company at 31 March 2025 and 2024:
25 附属公司之权益
以下为本公司于2025年及2024年3月31日
直接或间接持有的附属公司名单：
| Name of subsidiaries | Place of incorporation/ establishment, operations and type of legal entity | Issued and fully paid up capital | Attributable equity interest to the Group | Principal activities | |
|---|---|---|---|---|---|
| 附属公司名称 | 注册成立╱成立、营运 地点及法律实体类型 | 已发行及 缴足股本 | 本集团应占股权 | 主营业务 | |
| 2025 | 2024 | ||||
| 2025年 | 2024年 | ||||
| 100% | |||||
| 100% | |||||
| 100% | |||||
188GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
For the year ended 31 March 2025 截至2025年3月31日止年度
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
Limited（附注b）
Notes:
(a) It was a wholy owned subsidiary incorporated in the BVI during
the year ended 31 March 2024.
(b) They were wholy owned subsidiaries in Hong Kong and
Cambodia during the year ended 31 March 2025.
25 INTERESTS IN SUBSIDIARIES (continued)25 附属公司之权益（续）
附注：
(a) 其为于截至2024年3月31日止年度内在英
属处女群岛注册成立的全资附属公司。
(b) 彼等为于截至2025年3月31日止年度内在
香港及柬埔寨注册成立的全资附属公司。
| Name of related parties | Relationship with the Group |
|---|---|
| 关联方名称 | 与本集团的关系 |
| As at 31 March | |||
|---|---|---|---|
| 于3月31日 | |||
| 2025 | 2024 | ||
| 2025年 | 2024年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| – | |||
| 582 | |||
1892024/25 年期 • GC CONSTRUCTION HOLDINGS LIMITED
For the year ended 31 March 2025 截至2025年3月31日止年度
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
26 RELATED PARTY TRANSACTIONS
Parties are considered to be related to the Group if the party
has the ability, directly or indirectly, to exercise significant
influence over the Group in making financial and operating
decisions. Related parties may be individuals (being members
of key management personel, significant shareholder and/ or
their close family members) or other entities and include entities
which are under the significant influence of related parties of
the Group where those parties are individuals. Parties are also
considered to be related if they are subject to comon control.
(a) The directors of the Company are of the view that the
folowing parties/companies were related parties that had
transactions or balances with the Group during the year:
Mr. KS ChanControling shareholder, director of the Group and Chairman
陈桥森先生控股东、本集团董事及主席
Mr. WP ChanControling shareholder and director of the Group
陈永平先生控股东及本集团董事
Ms. Chan Chui YingDirector of the Group*/Daughter of Mr. KS Chan & Ms. Tsang
陈翠盈小姐本集团董事*╱陈桥森先生及曾女士之女
Mr. Chan Chun WaiSon of Mr. WP Chan
陈镇威先生陈永平先生之子
(b) The folowing transactions were caried out with related
parties:
Save as disclosed in Note 9 of this report, the folowing
transactions were caried out with related parties:
S
M
M
The transactions were conducted in the normal course of
busines at prices and terms as agred betwen the Group
and the related parties.
* Apointed on 5 February 2024
(c) Key management compensation
Key management includes the executive directors of
the Group. The compensation paid or payable to key
management for employe services is disclosed in Note 9.
26 关联方交易
倘一方有能力直接或间接对本集团的财务
及经营决策行使重大影响力，该方被视为
与本集团有关联。关联方可为个人（即主要
管理人员、主要股东及╱或彼等近亲家属
成员）或其他实体，包括受本集团个人关连
方重大影响的实体。倘有关订约方受共同
控制，亦被视为关联方。
(a) 本公司董事认为以下订约方╱公司为
于本年度与本集团有交易或结余的关
联方：
(b) 以下交易乃与关联方进行：
除本报告附注9所披露者外，以下交易
乃与关联方进行：
交易乃于正常业务过程中按本集团与
关联方之间协定的价格及条款所进行。
* 于2024年2月5日获委任
(c) 主要管理层酬金
主要管理层包括本集团执行董事。就
雇佣服务已付或应付主要管理层酬金
披露于附注9。
| Year ended 31 March | |||
|---|---|---|---|
| 截至3月31日止年度 | |||
| 2025 | 2024 | ||
| 2025年 | 2024年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| (53,242) | |||
| 1,688 | |||
| 496 | |||
| (899) | |||
| 254 | |||
| (38) | |||
| 33,573 | |||
| 353 | |||
| (17,815) | |||
| (22,735) | |||
| (12,518) | |||
| (17,689) | |||
| (855) | |||
| (71,612) | |||
190GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
For the year ended 31 March 2025 截至2025年3月31日止年度
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
27 CASH FLOWS INFORMATION
(a) Reconciliation of (los)/profit before tax to cash used in
operations
(
A
D
27 现金流量资料
(a) 除税前（亏损）╱溢利与营运所用现金
的对账
| Liabilities from financing activities | ||||
|---|---|---|---|---|
| 融资活动所产生的负债 | ||||
| Borrowings | Lease liabilities | Total | ||
| 借款 | 租赁负债 | 总计 | ||
| HK$’000 | HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | 千港元 | ||
| – | 906 | 906 | ||
| 8,563 | (568) | 7,995 | ||
| 222 | 32 | 254 | ||
| 8,785 | 370 | 9,155 | ||
1912024/25 年期 • GC CONSTRUCTION HOLDINGS LIMITED
For the year ended 31 March 2025 截至2025年3月31日止年度
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
27 CASH FLOWS INFORMATION (continued)
(b) Reconciliation of (los)/profit before tax to
cash used in financing activities
The table below details changes in the Group’s
liabilities from financing activities, including both cash
and non-cash changes. Liabilities arising from financing
activities are liabilities for which cash flows were, or
future cash flows wil be, clasified in the Group’s
consolidated statement of cash flows as cash flows
from financing activities:
27 现金流量资料（续）
(b) 除税前（亏损）╱溢利与融资活
动所用现金的对账
下表详列本集团因融资活动而产生的
负债变动，包括现金及非现金变动。
融资活动产生的负债是指现金流量或
未来现金流量在本集团综合现金流量
表中分类为融资活动产生的现金流量
的负债：
| Liabilities from financing activities | ||||
|---|---|---|---|---|
| 融资活动所产生的负债 | ||||
| Borrowings | Lease liabilities | Total | ||
| 借款 | 租赁负债 | 总计 | ||
| HK$’000 | HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | 千港元 | ||
192GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
For the year ended 31 March 2025 截至2025年3月31日止年度
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
27 CASH FLOWS INFORMATION (continued)
(b) Reconciliation of (los)/profit before tax to
cash used in financing activities (continued)
千港元千港元千港元
As at 1 April 2023于2023年4月1日5,6343535,987
Cash flows现金流量(5,736)(451)(6,187)
Non-cash movements:非现金变动：
Adition添置–992992
Interest expenses利息开支10212114
As at 31 March 2024于2024年3月31日–906906
28 CAPITAL RISK MANAGEMENT
The Group manages its capital to ensure that the Group wil
be able to continue as a going while maximising the return to
shareholders through the optimisation of the debt and equity
balance. The Group’s overal strategy remains unchanged during
the year.
The capital structure of the Group consists of net debt, which
includes bank borowings and lease liabilities, disclosed in
notes 21 and 23, respectively, net of cash and bank balances
and equity atributable to owners of the Company, comprising
isued share capital and reserves.
The directors of the Company review the capital structure
regularly. As part of this review, the directors consider the cost
of capital and the risks asociated with each clas of capital.
The Group wil balance its overal capital structure through the
payment of dividends or new share isues as wel as redemption
of existing debts.
27 现金流量资料（续）
(b) 除税前（亏损）╱溢利与融资活
动所用现金的对账（续）
28 资本风险管理
本集团管理其资本，以确保本集团能继续
经营，同时透过优化债务与股本的平衡，
为股东带来最大回报。本集团的整体策略
于年内维持不变。
本集团的资本结构包括债务净额（包括银行
借款及租赁负债，分别于附注21及23所披
露）减现金及银行结余，以及本公司拥有人
应占权益（包括已发行股本及储备）。
本公司董事定期检讨资本结构。作为检讨
的一部分，董事会考虑资本成本及与各类
资本相关的风险。本集团将透过派发股息
或发行新股以及赎回现有债务以平衡其整
体资本结构。
| As at 31 March | |||
|---|---|---|---|
| 于3月31日 | |||
| 2025 | 2024 | ||
| 2025年 | 2024年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| 83,759 | |||
| 4,906 | |||
| 150 | |||
| – | |||
| 18,762 | |||
| 107,577 | |||
| 8,785 | |||
| 20,487 | |||
| 14,321 | |||
| 43,593 | |||
1932024/25 年期 • GC CONSTRUCTION HOLDINGS LIMITED
For the year ended 31 March 2025 截至2025年3月31日止年度
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
29 FINANCIAL INSTRUMENTS
(a) Categories of financial instruments
The carying amounts of each of the categories of financial
instruments at the end of the reporting period are as
folows:
(b) Financial risk management objectives and
policies
The Group’s major financial instruments include trade
receivables, deposits and other receivables, amount due
from imediate holding company, short-term deposit,
cash and bank balances, bank borowings, trade payables
and other payables. Details of these financial instruments
are disclosed in the respective notes.
The risks asociated with these financial instruments
include credit risk, market risk (interest rate risk) and
liquidity risk. The policies on how to mitigate these risks are
set out below. The management manages and monitors
these exposures to ensure apropriate measures are
implemented on a timely and efective maner.
29 金融工具
(a) 金融工具类别
于各报告期末，各类别金融工具的账
面值载列如下：
(b) 金融风险管理目标及政策
本集团的主要金融工具包括贸易应收
款项、按金及其他应收款项、应收直
接控股公司款项、短期存款、现金及
银行结余、银行借款、贸易应付款项
以及其他应付款项。该等金融工具的
详情于相关附注内披露。
与该等金融工具相关的风险包括信贷
风险、市场风险（利率风险）及流动性
风险。有关如何降低该等风险的政策
载于下文。管理层管理及监察该等风
险，以确保能及时有效地采取适当措
施。
194GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
For the year ended 31 March 2025 截至2025年3月31日止年度
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
29 FINANCIAL INSTRUMENTS (continued)
(b) Financial risk management objectives and
policies (continued)
(i) Credit risk and impairment asesment
Credit risk refers to the risk that the Group’s
counterparties default on their contractual obligations
resulting in financial loses to the Group. The Group’s
credit risk exposures are primarily atributable to
trade receivables, contract asets, deposits and other
receivables, amount due from imediate holding
company and bank balances. The Group does not
hold any colateral or other credit enhancements
to cover its credit risks asociated with its financial
asets.
Amount due from imediate holding
company and deposits and other
receivables
The Group asesed the los alowance for amount
due from imediate holding company, deposits
and other receivables on 12-month ECL basis. In
determining the ECL, the Group has taken into
acount the historical default experience and
forward-loking information as apropriate. There
had ben no significant increase in credit risk since
initial recognition. The Group has considered the
consistently low historical default rate in conection
with payments and concluded that credit risk inherent
in the Group’s outstanding balances is insignificant.
Bank balances
The credit risks on bank balances are limited because
the counterparties are banks with high credit ratings
asigned by international credit-rating agencies.
29 金融工具（续）
(b) 金融风险管理目标及政策（续）
(i) 信贷风险及减值评估
信贷风险指本集团的交易对手未
履行其合约责任而导致本集团产
生财务亏损的风险。本集团的信
贷风险主要来自贸易应收款项、
合约资产、按金及其他应收款
项、应收直接控股公司款项以及
银行结余。本集团并无持有任何
抵押品或其他信贷增强措施，以
涵盖与其金融资产相关的信贷风
险。
应收直接控股公司款项以及按
金及其他应收款项
本集团按12个月预期信贷亏损基
准评估应收直接控股公司款项以
及按金及其他应收款项的亏损拨
备。于厘定预期信贷亏损时，本
集团已适当考虑过往违约经验及
前瞻性资料。自初步确认以来，
信贷风险并无显著增加。本集团
已考虑与付款有关的历史违约率
乃持续偏低，并认为本集团的未
偿还结余自有的信贷风险并不重
大。
银行结余
由于交易对手均为获国际信贷评
级机构给予高信贷评级的银行，
因此，银行结余的信贷风险有
限。
1952024/25 年期 • GC CONSTRUCTION HOLDINGS LIMITED
For the year ended 31 March 2025 截至2025年3月31日止年度
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
29 FINANCIAL INSTRUMENTS (continued)
(b) Financial risk management objectives and
policies (continued)
(i) Credit risk and impairment asesment
(continued)
Trade receivables and contract asets
arising from contracts with customers
In order to minimise credit risk, the management
of the Group is responsible for determination of
credit limits, credit aprovals and other monitoring
procedures over the customers to ensure that
folow-up action is taken to recover the overdue
debts. In adition, the Group reviews the recoverable
amount of each individual debt at the end of each
reporting period to ensure that adequate alowance
are made for irecoverable amounts. In adition,
the Group performs impairment asesment under
ECL model on trade balances individualy or based
on provision matrix. In this regard, the directors of
the Company consider that the Group’s credit risk is
significantly reduced.
The Group is exposed to concentration of credit
risk exposed to concentration of credit risk on trade
receivables and contract asets from the Group’s
five largest customers amounting to aproximately
HK$148,532,000 (2024: HK$182,454,000) and
acounted for aproximately 45% (2024: 62%)
of the total trade receivables and contract asets
balance. The major customers of the Group are
reputable organisations and with god repayment
history. Management considers that the credit risk is
limited in this regard.
29 金融工具（续）
(b) 金融风险管理目标及政策（续）
(i) 信贷风险及减值评估（续）
客户合约所产生的贸易应收款
项以及合约资产
为尽量减低信贷风险，本集团管
理层负责厘定信贷限额、信贷审
批及对客户的其他监察程序，确
保能采取跟进行动以收回逾期
债项。此外，本集团于各报告期
末检讨各个别债项的可收回金
额，以确保就不可收回的款项作
出充足拨备。此外，本集团对贸
易结余单独地或根据拨备矩阵进
行预期信贷亏损模式项下的减值
评估。就此而言，本公司董事认
为，本集团的信贷风险已大幅降
低。
本集团面对来自本集团五大客户
的贸易应收款项及合约资产金
额约148,532,000港元（2024年：
182,454,000港元）及占本集团贸
易应收款项及合约资产总额约
45%（2024年：62%）的信贷集
中风险。本集团主要客户为具信
誉的机构，具有良好还款往绩。
管理层认为此方面的信贷风险有
限。
| Gross carrying amount | Loss allowance | Net carrying amount | ||||||
|---|---|---|---|---|---|---|---|---|
| 账面总额 | 亏损拨备 | 账面净额 | ||||||
| Average expected loss rate | Trade receivables | Contract asets | Trade receivables | Contract assets | Trade receivables | Contract asets | ||
| 平均预期 亏损率 | 贸易应收 款项 | 合约 资产 | 贸易应收 款项 | 合约 资产 | 贸易应收 款项 | 合约 资产 | ||
| As at 31 March 2025 | 于2025年 3月31日 | % | HK$’000 | HK$’000 | HK$’000 | HK$’000 | HK$’000 | HK$’000 |
| 千港元 | 千港元 | 千港元 | 千港元 | 千港元 | 千港元 | |||
| 1.19 | 37,468 | 198,845 | (438) | (19,977) | 37,030 | 178,867 | ||
| 5.72 | 51,900 | 33,253 | (5,171) | (3,723) | 46,729 | 29,530 | ||
| 89,368 | 232,098 | (5,609) | (23,700) | 83,759 | 208,398 | |||
| 100 | – | 5,708 | – | (5,708) | – | – | ||
| 89,368 | 237,806 | (5,609) | (29,408) | 83,759 | 208,398 | |||
196GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
For the year ended 31 March 2025 截至2025年3月31日止年度
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
29 FINANCIAL INSTRUMENTS (continued)
(b) Financial risk management objectives and
policies (continued)
(i) Credit risk and impairment asesment
(continued)
Trade receivables and contract asets arising
from contracts with customers (continued)
For trade receivables and contract asets, the Group
has aplied the simplified aproach under HKFRS 9
to measure the los alowance at lifetime ECL. During
the year ended 31 March 2025, the Group enhanced
its ECL for trade receivable and contract asets by
categorizing the customers by internal credit risks
bands rather than past due aging. The change in
estimates wil be presented prospectively. Except for
debtors with significant balance and credit-impaired,
the Group determined ECL on these items by using
a provision matrix, grouped by internal credit rating
(2024: Past due basis), and the ratings are outlined as
folows:
– Low riskCustomers with god credit
standing
– Medium riskCustomers with normal credit
standing
– High riskCredit-impaired customers
The folowing table provides information about the
exposure to credit risk and ECL for trade receivables
and contract asets which are asesed based on
provision matrix as at 31 March 2025 and 31 March
2024 within lifetime ECL (not credit-impaired).
Debtors with significant balances and credit-impaired
with gros carying amounts of aproximately
HK$5,708,000 (2024: HK$Nil) as at 31 March 2025
were asesed individualy.
29 金融工具（续）
(b) 金融风险管理目标及政策（续）
(i) 信贷风险及减值评估（续）
客户合约所产生的贸易应收款
项以及合约资产（续）
就贸易应收款项及合约资产而
言，本集团已应用香港财务报告
准则第9号的简化方法计量全期
预期信贷亏损的亏损拨备。截至
2025年3月31日止年度，本集团
透过按内部信贷风险将客户分级
（而非按逾期账龄分类）而改良其
贸易应收款项及合约资产的预期
信贷亏损。有关估计变动将于未
来呈列。除有重大余额及出现信
贷减值的债务人外，本集团使用
拨备矩阵（按内部信贷评级分组）
厘定该等项目的预期信贷亏损，
评级情况概述如下：
— 低风险信贷状况良好的客户
— 中风险信贷状况正常的客户
— 高风险出现信贷减值的客户
下表提供有关于2025年3月31日
及2024年3月31日根据拨备矩阵
评估于全期预期信贷亏损（并无
出现信贷减值）中的贸易应收款
项及合约资产的信贷风险及预期
信贷亏损的资料。于2025年3月
31日，有重大余额及出现账面总
额约5,708,000港元（2024年：零
港元）信贷减值的债务人已单独
评估。
| Trade receivables | 贸易应收款项 | Average expected loss rate | Gross carrying amount | Loss allowance | Net carrying amount |
|---|---|---|---|---|---|
| 平均预期 亏损率 | 账面总额 | 亏损拨备 | 账面净额 | ||
| % | HK$’000 | HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | 千港元 |
| Average expected loss rate | Gross carrying amount | Loss allowance | Net carrying amount | ||
|---|---|---|---|---|---|
| 平均预期 亏损率 | 账面总额 | 亏损拨备 | 账面净额 | ||
| % | HK$’000 | HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | 千港元 |
1972024/25 年期 • GC CONSTRUCTION HOLDINGS LIMITED
For the year ended 31 March 2025 截至2025年3月31日止年度
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
29 FINANCIAL INSTRUMENTS (continued)
(b) Financial risk management objectives and
policies (continued)
(i) Credit risk and impairment asesment
(continued)
Trade receivables and contract asets arising
from contracts with customers (continued)
As at 31 March 2024
千港元千港元千港元
Curent即期0.3034,372(116)34,256
Past due within 30 days30天内逾期0.7034,415(247)34,168
Past due 31 to 60 days31至60天内逾期2.904,732(138)4,594
Over 60 days超过60天11.203,400(380)3,020
76,919(881)76,038
千港元千港元千港元
Contract asets合约资产0.30215,071(563)214,508
The expected los rates are estimated based on
historical observed default rates over the expected life
of the debtors and are adjusted for forward-loking
information that is available without due costs
or eforts. The grouping is regularly reviewed by
management to ensure relevant information about
specific debtors is updated.
The Group recognised los alowances of
HK$4,728,000 (2024: HK$611,000) on trade
receivables and recognised los alowances of
HK$23,137,000 (2024: HK$14,000) on contract
asets, respectively during the year.
29 金融工具（续）
(b) 金融风险管理目标及政策（续）
(i) 信贷风险及减值评估（续）
客户合约所产生的贸易应收款
项以及合约资产（续）
于2024年3月31日
预期亏损率乃根据于债务人债项
的预计年期内的过往观察违约率
估计得出，并就毋须付出过多成
本或努力即可获得的前瞻性资料
作出调整。该分组由管理层定期
审查，以确保特定债务人的相关
资讯得到更新。
年内，本集团就贸易应收款
项及合约资产分别确认亏损
拨备4,728,000港元（2024年：
611,000港元）及确认亏损拨
备23,137,000港元（2024年：
14,000港元）。
| Lifetime ECL (not credit-impaired) | Lifetime ECL (credit-impaired) | |||||
|---|---|---|---|---|---|---|
| 全期预期信贷亏损 （并无出现信贷减值） | 全期预期信贷亏损 （出现信贷减值） | |||||
| Trade receivables | Contract assets | Trade receivables | Contract assets | Total | ||
| 贸易应收 款项 | 合约资产 | 贸易应收 款项 | 合约资产 | 总计 | ||
| HK$’000 | HK$’000 | HK$’000 | HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | 千港元 | 千港元 | 千港元 | ||
| 270 | 549 | – | – | 819 | ||
| 611 | 14 | – | – | 625 | ||
| 881 | 563 | – | – | 1,444 | ||
| 5,022 | 23,464 | – | 5,708 | 34,194 | ||
| (294) | (327) | – | – | (621) | ||
| 5,609 | 23,700 | – | 5,708 | 35,017 | ||
198GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
For the year ended 31 March 2025 截至2025年3月31日止年度
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
29 FINANCIAL INSTRUMENTS (continued)
(b) Financial risk management objectives and
policies (continued)
(i) Credit risk and impairment asesment
(continued)
Trade receivables and contract asets arising
from contracts with customers (continued)
The folowing table shows the movement in lifetime
ECL that has ben recognised for trade receivables
and contract asets under the simplified aproach
during the year.
The Group writes of a trade receivable or a contract
aset when there is information indicating that the
debtor is in severe financial dificulty and there is no
realistic prospect of recovery, e.g. when the debtor
has ben placed under liquidation or has entered into
bankruptcy procedings, whichever ocurs earlier.
During the year, none of the trade receivables and
contract asets had ben writen of.
29 金融工具（续）
(b) 金融风险管理目标及政策（续）
(i) 信贷风险及减值评估（续）
客户合约所产生的贸易应收款
项以及合约资产（续）
下表显示于年内根据简化方法就
贸易应收款项及合约资产确认的
全期预期信贷亏损变动。
本集团于有资料显示债务人陷入
严重财务困难，且无实际收回可
能之时（例如债务人遭受清盘或
已进入破产程序（以较早发生者
为准）撇销贸易应收款项或合约
资产。年内，概无撇销任何贸易
应收款项及合约资产。
| 2025 | 2024 | ||||
|---|---|---|---|---|---|
| 2025年 | 2024年 | ||||
| Effective Interest rate per annum | Carrying amount | Effective Interest rate per annum | Carrying amount | ||
| 实际年利率 | 账面值 | 实际年利率 | 账面值 | ||
| % | HK$’000 | % | HK$’000 | ||
| 千港元 | 千港元 | ||||
| 4.93 | 8,785 | ||||
| – | – | ||||
| 0.00-0.30 | (18,762) | ||||
| (9,977) | |||||
1992024/25 年期 • GC CONSTRUCTION HOLDINGS LIMITED
For the year ended 31 March 2025 截至2025年3月31日止年度
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
29 FINANCIAL INSTRUMENTS (continued)
(b) Financial risk management objectives and
policies (continued)
(i) Market risk
Interest rate risk
The Group’s interest rate risk arises primarily from
bank borowings. Borowings isued at variable rates
expose the Group to cash flow interest rate risk and
fair value interest rate risk respectively. The Group’s
interest rate profile as monitored by management is
set out in below.
Interest rate profile
The folowing table details the interest rate profile of
the Group’s borowings at the end of the reporting
period.
At 31 March 2025, if interest rates had ben 50
basis points higher/lower with al other variables held
constant, the Group’s post-tax los (2024: profit) for
the year then ended would have ben aproximately
HK$42,000 (2023: HK$342,000) lower/higher (2024:
higher/lower), mainly as a result of higher/lower
interest income on cash at banks.
29 金融工具（续）
(b) 金融风险管理目标及政策（续）
(i) 市场风险
利率风险
本集团的利率风险主要来自银行
借款。以浮动利率发行的银行借
款使本集团面临现金流量利率风
险及公平值利率风险。管理层监
控本集团的利率状况载于下文。
利率状况
下表详列本集团于报告期末的借
款利率状况。
于2025年3月31日，倘利率上升
╱下调50个基点，而所有其他变
数维持不变，则本集团截至该日
止年度的除税后亏损（2024年：
溢利）将下降╱上升（2024年：上
升╱下降）约42,000港元（2024
年：342,000港元），乃主要由于
银行现金的利息收入上升╱下降
所致。
| Weighted average interest rate | Carrying amount | Total contractual undiscounted cash flows | Within one year or on demand | ||
|---|---|---|---|---|---|
| 加权 平均利率 | 账面值 | 合约未贴现 现金流量总额 | 一年内或 按要求 | ||
| % | HK$’000 | HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | 千港元 | |||
| 4.93 | 8,785 | 8,785 | 8,785 | ||
| – | 20,487 | 20,487 | 20,487 | ||
| – | 14,321 | 14,321 | 14,321 | ||
| 4.3 | 370 | 374 | 374 | ||
| 43,963 | 43,967 | 43,967 |
200GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
For the year ended 31 March 2025 截至2025年3月31日止年度
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
29 FINANCIAL INSTRUMENTS (continued)
(b) Financial risk management objectives and
policies (continued)
(i) Liquidity risk
In the management of the liquidity risk, the Group
monitors and maintains a level of cash and cash
equivalents demed adequate by management to
finance the Group’s operations and mitigate the
efects of fluctuations in cash flows. The directors
believe that the Group wil have suficient working
capital for its future operational requirement.
The folowing table details the Group’s contractual
maturity for its non-derivative financial liabilities. The
table has ben drawn up based on the undiscounted
cash flows of financial liabilities based on the earliest
date on which the Group can be required to pay. The
table includes both interest and principal cash flows.
29 金融工具（续）
(b) 金融风险管理目标及政策（续）
(i) 流动性风险
管理流动性风险时，本集团监控
并维持管理层认为足以应付本集
团营运所需及降低现金流量波动
影响的现金及现金等价物水平。
董事认为，本集团将有足够营运
资金以应付其未来营运需求。
下表详述本集团的非衍生金融负
债的合约到期详情。该表根据本
集团可能被要求付款的最早日期
按金融负债的未贴现金流量编
制。该表包括利息及本金现金流
量。
| Weighted average interest rate | Carrying amount | Total contractual undiscounted cash flows | Within one year or on demand | Over 1 year | ||
|---|---|---|---|---|---|---|
| 加权平均 利率 | 账面值 | 合约未贴现 现金流量总额 | 一年内或 按要求 | 超过一年 | ||
| % | HK$’000 | HK$’000 | HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | 千港元 | 千港元 | |||
| – | 33,230 | 33,230 | 33,230 | – | ||
| – | 18,720 | 18,720 | 18,720 | – | ||
| 4.3 | 906 | 936 | 562 | 374 | ||
| 52,856 | 52,886 | 52,512 | 374 |
2012024/25 年期 • GC CONSTRUCTION HOLDINGS LIMITED
For the year ended 31 March 2025 截至2025年3月31日止年度
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
29 FINANCIAL INSTRUMENTS (continued)
(b) Financial risk management objectives and
policies (continued)
(i) Liquidity risk (continued)
(iv) Fair value risk
The directors considered that the carying amounts
of financial asets and financial liabilities recorded at
amortised cost aproximate their fair values at the
end of each reporting period.
29 金融工具（续）
(b) 金融风险管理目标及政策（续）
(i) 流动性风险（续）
(iv) 公平值风险
董事认为，按摊销成本列账的金
融资产及金融负债的账面值与其
于各报告期末的公平值相若。
| 2025 | 2024 | |||
|---|---|---|---|---|
| 2025年 | 2024年 | |||
| HK$’000 | HK$’000 | |||
| 千港元 | 千港元 | |||
| 101,982 | ||||
| – | ||||
| 81,202 | ||||
| – | ||||
| 9,922 | ||||
| 91,124 | ||||
| 193,106 | ||||
| 10,000 | ||||
| 101,592 | ||||
| 105,356 | ||||
| (24,215) | ||||
| 192,733 | ||||
| – | ||||
| 373 | ||||
| 373 | ||||
| 193,106 | ||||
202GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
For the year ended 31 March 2025 截至2025年3月31日止年度
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
30 STATEMENT OF FINANCIAL POSITION OF
THE COMPANY
A
N
I
C
O
A
S
C
T
E
E
S
C
S
A
T
L
C
A
A
T
T
The statement of financial position of the Company was
aproved by the Board of Directors on 25 June 2025 and was
signed on its behalf.
Chan Kiu SumChan Wing Ping
陈桥森陈永平
30 本公司财务状况表
董事会已于2025年6月25日批准本公司财务
状况表，并由以下董事代表签署。
| Capital reserve | Share premium | Accumulated losses | Total | ||
|---|---|---|---|---|---|
| 资本储备 | 股份溢价 | 累计亏损 | 总计 | ||
| HK$’000 | HK$’000 | HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | 千港元 | 千港元 | ||
| (Note) | |||||
| （附注） | |||||
| 101,592 | 105,356 | (23,163) | 183,785 |
|---|---|---|---|
| – | – | (1,052) | (1,052) |
| 101,592 | 105,356 | (24,215) | 182,733 |
2032024/25 年期 • GC CONSTRUCTION HOLDINGS LIMITED
For the year ended 31 March 2025 截至2025年3月31日止年度
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
30 STATEMENT OF FINANCIAL POSITION OF
THE COMPANY (continued)
Note:
The reserves movement of the Company is as folows:
Balance at 1 April 2023于2023年4月1日的结余101,592105,356(23,200)183,748
Los for the year年内亏损–3737
Balance at 31 March 2024 and
1 April 2024
于2024年3月31日及
2024年4月1日的结余
Los for the year年内亏损
Balance at 31 March 2025于2025年3月31日的结余
Note: The capital reserve of the Group represented combined share
capital of the companies now comprising the Group upon the
completion of the reorganisation.
30 本公司财务状况表（续）
附注：
本公司的储备变动如下：
附注： 本集团的资本储备指于重组完成后现时
组成本集团的各间公司的合并股本。
| 2025 | 2024 | 2023 | 2022 | 2021 | ||
|---|---|---|---|---|---|---|
| 2025年 | 2024年 | 2023年 | 2022年 | 2021年 | ||
| HK$’000 | HK$’000 | HK$’000 | HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | 千港元 | 千港元 | 千港元 | ||
| 530,567 | ||||||
| (528,535) | ||||||
| 2,122 | ||||||
| 83 | ||||||
| (22,519) | ||||||
| – | ||||||
| (33,573) | ||||||
| (53,887) | ||||||
| 645 | ||||||
| (53,242) | ||||||
| (229) | ||||||
| (53,471) | ||||||
| As at 31 March | ||||||
|---|---|---|---|---|---|---|
| 于三月三十一日 | ||||||
| 2025 | 2024 | 2023 | 2022 | 2021 | ||
| 2025年 | 2024年 | 2023年 | 2022年 | 2021年 | ||
| HK$’000 | HK$’000 | HK$’000 | HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | 千港元 | 千港元 | 千港元 | ||
| 2,724 | ||||||
| 318,336 | ||||||
| 321,060 | ||||||
| 201 | ||||||
| 48,511 | ||||||
| 48,712 | ||||||
| 272,348 | ||||||
| 321,060 | ||||||
SUMARY OF FINANCIAL INFORMATION
财务资料概要
204GC CONSTRUCTION HOLDINGS LIMITED • 2024/25 ANUAL REPORT
A sumary of the results and of the asets and liabilities of the
Group for the last five financial years, as extracted from the published
financial statements, is set out as below. This sumary does not form
part of the audited financial statements.
下表载列摘录自本集团已刊发财务报表最近五
个财政年度的业绩及资产负债概要。本概要并
不构成经审核财务报表之一部分。
(incorporated in the Cayman Islands with limited liability)
Stock Code : 1489