01547 IBI GROUP HLDGS 财务报表/环境、社会及管治资料：年报 2024/2025
CONTENTS目录
Financial Highlights3财务摘要
Corporate Information6公司资料
Chairman’s Statement10主席报告
Management Discusion and Analysis16管理层讨论及分析
Biographies of the Directors and Senior Management25董事及高级管理层简历
Directors’ Report33董事会报告
Corporate Governance Report48企业管治报告
Environmental, Social and Governance Report68环境、社会及管治报告
Independent Auditor’s Report107独立核数师报告
Consolidated Statement of
Profit or Los and Other Comprehensive Income
114综合损益及其他全面收益表
Consolidated Statement of Financial Position115综合财务状况表
Consolidated Statement of Changes in Equity116综合权益变动表
Consolidated Statement of Cash Flows117综合现金流量表
Notes to the Consolidated
Financial Statements
119综合财务报表附注
Financial Sumary193财务概要
Definitions194释义
| Year ended 31 March | ||||
|---|---|---|---|---|
| 截至三月三十一日止年度 | ||||
| 2025 | 2024 | Increase/ | ||
| 二零二五年 | 二零二四年 | (decrease) | ||
| HK$ million | HK$ million | 增加╱（减少） | ||
| 百万港元 | 百万港元 | |||
| Results | (Audited) | (Audited) | ||
| 业绩 | （经审核） | （经审核） | ||
| 331.4 |
|---|
| 44.3 |
| 10.4 |
| 8.4 |
| 1.0 |
| As at 31 March 2025 | As at 31 March 2024 | Increase/ (decrease) | ||
|---|---|---|---|---|
| 于二零二五年 三月三十一日 | 于二零二四年 三月三十一日 | 增加╱（减少） | ||
| HK$ million | HK$ million | |||
| 百万港元 | 百万港元 | |||
| Financial Position | (Audited) | (Audited) | ||
| 财务状况 | （经审核） | （经审核） | ||
| 372.8 |
|---|
| 80.3 |
| 168.5 |
| 1.2 |
IBI Group Holdings Limited
2024/2025年度报告
FINANCIAL HIGHLIGHTS
财务摘要
Revenue and other (loses)/gains收益及其他（亏损）╱收益527.2(37.1)%
Gros profit毛利46.8(5.4)%
Profit before income tax expense除所得税开支前溢利2.6298.0%
Profit atributable to the owners of
the Company for the year
本公司拥有人应占年内溢利
0.42,297.1%
Basic and diluted earnings per share
(HK cents)
每股基本及摊薄盈利
（港仙）0.02,297.1%
Total asets资产总值420.9(11.4)%
Total bank borowings银行借款总额78.02.9%
Shareholders’ equity股东权益164.12.7%
Curent ratio and quick ratio (times)流动比率及速动比率（倍）1.5(20.0)%
IBI Group Holdings Limited
Anual Report 2024/2025
CORPORATE INFORMATION
公司资料
BOARD OF DIRECTORS
Executive Directors
Mr. Neil David Howard (chairman and chief executive oficer)
Mr. Steven Paul Smithers
Independent Non-Executive Directors
Mr. David John Kenedy
Mr. Christopher John Broke
Ms. Ka Wai Yeung
COMPANY SECRETARY
Mr. Yun Wah Man ACG, ACS, MCG
AUDIT COMITE
Mr. David John Kenedy (chairman)
Mr. Christopher John Broke
Ms. Ka Wai Yeung
NOMINATION COMITE
Mr. Neil David Howard (chairman)
Mr. Steven Paul Smithers
Mr. David John Kenedy
Mr. Christopher John Broke
Ms. Ka Wai Yeung
REMUNERATION COMITE
Mr. Christopher John Broke (chairman)
Mr. David John Kenedy
Ms. Ka Wai Yeung
Mr. Neil David Howard
Mr. Steven Paul Smithers
AUTHORISED REPRESENTATIVES
Mr. Neil David Howard
Mr. Steven Paul Smithers
AUDITORS
BDO Limited
董事会
执行董事
Neil David Howard先生（主席兼行政总裁）
Steven Paul Smithers先生
独立非执行董事
David John Kenedy先生
Christopher John Broke先生
杨家慧女士
公司秘书
文润华先生 ACG, ACS, MCG
审核委员会
David John Kenedy先生（主席）
Christopher John Broke先生
杨家慧女士
提名委员会
Neil David Howard先生（主席）
Steven Paul Smithers先生
David John Kenedy先生
Christopher John Broke先生
杨家慧女士
薪酬委员会
Christopher John Broke先生（主席）
David John Kenedy先生
杨家慧女士
Neil David Howard先生
Steven Paul Smithers先生
授权代表
Neil David Howard先生
Steven Paul Smithers先生
核数师
香港立信德豪会计师事务所有限公司
IBI Group Holdings Limited
2024/2025年度报告
CORPORATE INFORMATION
公司资料
注册办事处
One Nexus Way
Camana Bay
Grand Cayman
KY1-9005
Cayman Islands
总部及香港主要营业地点
香港
文咸西街18号
盘谷银行大厦3楼
主要往来银行
上海商业银行有限公司
香港
皇后大道中12号
上海商业银行大厦
股份过户登记总处
Intertrust Corporate Services (Cayman) Limited
One Nexus Way
Camana Bay
Grand Cayman
KY1-9005
Cayman Islands
香港股份过户登记分处
卓佳证券登记有限公司
香港
金钟夏悫道16号
远东金融中心17楼
上市地
香港联合交易所有限公司
股份代号
公司网站
w.ibighl.com
REGISTERED OFICE
One Nexus Way
Camana Bay
Grand Cayman
KY1-9005
Cayman Islands
HEADQUARTERS AND PRINCIPAL PLACE OF
BUSINES IN HONG KONG
3/F, Bangkok Bank Building
18 Bonham Strand West
Hong Kong
PRINCIPAL BANKER
Shanghai Comercial Bank Limited
Shanghai Comercial Bank Tower
12 Quen’s Road Central
Hong Kong
PRINCIPAL SHARE REGISTRAR AND
TRANSFER OFICE
Intertrust Corporate Services (Cayman) Limited
One Nexus Way
Camana Bay
Grand Cayman
KY1-9005
Cayman Islands
HONG KONG BRANCH SHARE REGISTRAR
AND TRANSFER OFICE
Tricor Investor Services Limited
17/F., Far East Finance Centre
16 Harcourt Road, Admiralty
Hong Kong
PLACE OF LISTING
The Stock Exchange of Hong Kong Limited
STOCK CODE
COMPANY’S WEBSITE
w.ibighl.com
IBI Group Holdings Limited
Anual Report 2024/2025
CHAIRMAN’S STATEMENT
主席报告
IBI Group Holdings Limited
2024/2025年度报告
CHAIRMAN’S STATEMENT
主席报告
IBI Group Holdings Limited
Anual Report 2024/2025
CHAIRMAN’S STATEMENT
主席报告
Dear Shareholders,
On behalf of the Board of Directors, I am pleased to present the
audited financial results of IBI Group Holdings Limited together with
its subsidiaries for the year ended 31 March 2025.
GROUP PROFILE
IBI Group Holdings Limited is a publicly listed holding company
on the Main Board of the Stock Exchange. The Group focuses on
investments in the built environment and the Group’s subsidiaries
include a building contractor, a high tech building solutions
provider, a strategic investment division and a property investment
division.
Contracting
Through its contracting subsidiaries, the Group provides world
clas interior fiting out and building refurbishment services in Hong
Kong and Macau.
Whilst acting predominantly as a main contractor, the Group
secures and completes projects for clients acros many industry
sectors including but not limited to banking, legal, hospitality and
property development.
The Group’s competitive strengths have contributed to its suces
in contracting and distinguished it from our competitors. We believe
our competitive strengths lie in thre key specific areas of the
busines, namely,
- ;
- , management and execution expertise; and
- , cash flow and
financial security.
Building Solutions
Building Solutions Limited (“BSL”) provides products and
services that enhance the performance and wel-being of the
built environment in order to provide modern, healthy and high
performing spaces for the ocupants. Whether improving the air
quality of work spaces or reducing energy consumption, BSL
strives to identify and implement cuting edge technology to
improve the built environment for both building owners and end
users.
各位股东：
本人欣然代表董事会提呈IBI Group Holdings Limited连
同其附属公司截至二零二五年三月三十一日止年度的
经审核财务业绩。
本集团简介
IBI Group Holdings Limited为联交所主板的公众上市控
股公司。本集团专注于建筑环境方面的投资，而本集
团的附属公司包括建筑承建商、高科技建筑解决方案
提供商、策略投资分部及物业投资部。
承建
本集团透过其承建附属公司，在香港及澳门提供世界
级的室内装修及楼宇翻新服务。
于主要担任总承建商的同时，本集团为包括但不限于
银行、法律、酒店及房地产开发在内的多个行业领域
的客户承包及完成多个项目。
本集团的竞争优势推动其在承建方面取得成功，并使
其从竞争对手中脱颖而出。我们相信本身的竞争优势
侧重三个主要特定业务方面：
- ；
- 、管理及执行专业知识；及
- 、现金流量及财务保障。
Building Solutions
Building Solutions Limited（「BSL」）提供可提升建筑环
境的表现及福祉的产品及服务，以为用者提供现代、
健康及高性能的空间。无论是改善工作场所的空气品
质，还是降低能源消耗，BSL都致力于识别及采用尖
端技术，为建筑业主及终端用户改善建筑环境。
IBI Group Holdings Limited
2024/2025年度报告
CHAIRMAN’S STATEMENT
主席报告
策略投资
本集团成立策略投资分部是为了有效利用其可用资金
进入新的市场领域，并扩大本集团的建筑环境领域的
影响力。
本集团继续专注于「建筑环境」，正在详细研究广泛的
投资机会，涵盖从房地产开发、资产管理及建筑管理
及技术领域的新初创企业的投资机会。
物业投资
透过其物业投资附属公司，本集团旨在直接投资于实
体物业。
透过收购实体房地产，本集团期望其物业投资为本集
团提供额外收入，并扩大其地理覆域范围。
业务回顾
截至二零二五年三月三十一日止年度，本集团录得源
自收益及其他收益╱（亏损）合共约331.4百万港元（二
零二四年：527.2百万港元）的本公司拥有人应占税后
溢利约8.4百万港元（二零二四年：0.4百万港元）。
1. 承建
截至二零二五年三月三十一日止年度，本集团录
得来自承建的溢利约7.4百万港元。
年内大部份时间，建造业仍面临压力，投标情况
仍然竞争激烈。尽管年内取得及完成的项目数目
较去年同期增加，但其中多个项目的规模较小，
因此，尽管我们的项目团队在年内非常忙碌，但
本集团建造分部的营业额大幅下跌。
无论营业额如何，我们的商务团队在项目进行期
间严格控制成本，并积极进行已竣工项目的结算
工作，令期内业绩稳健。
Strategic Investments
The strategic investments division of the Group was established
to make eficient use of its available capital to enter new market
sectors and to expand the Group’s reach within the built
environment.
With a continuing focus on the “Built Environment”, the Group is
loking in detail at a wide range of investment oportunities from
property development, aset management and new start-ups in the
field of building management and technology.
Property Investments
Through its property investment subsidiary, the Group aims to
make direct investments into physical property.
Through the purchase of physical real estate, the Group loks to
its property investments to provide both aditional income to the
Group as wel as an expansion of its geographical reach.
BUSINES REVIEW
For the year ended 31 March 2025, the Group recorded a
profit atributable to the owners of the Company after tax of
aproximately HK$8.4 milion (2024: HK$0.4 milion) from revenue
and other gains/(loses) totaling aproximately HK$331.4 milion
(2024: HK$527.2 milion).
1. Contracting
During the year ended 31 March 2025, the Group recorded
profit from contracting of aproximately HK$7.4 milion.
The construction industry has remained under presure for
the majority of the year with tendering conditions continuing
to be competitive. Despite securing and completing a higher
number of projects during the year, when compared with the
previous period, a number of these projects were smaler in
size and therefore despite our project teams being extremely
busy for the year, the turnover for the Group’s construction
division droped significantly.
Irespective of the turnover, our comercial team’s rigid cost
control during the projects and their proactive final acounting
of completed projects has resulted in a solid set of results for
the period.
IBI Group Holdings Limited
Anual Report 2024/2025
CHAIRMAN’S STATEMENT
主席报告
本集团于期内完成12个项目并获授13个项目，
其中11个为装修项目，2个为A&A项目。
尽管投标仍然艰巨，但我们欣然报告，在本期间
的后半部分，我们成功获得四个大型项目，该
等项目将占用我们团队二零二五年的相当长一
段时间。该四个项目的总价值超过我们于二零
二四╱二零二五财政年度的全部营业额，因此，
我们正以非常强劲的势头迈入二零二五╱二零
二六财政年度。
我们很高兴于澳门获得重新开展业务后的首个项
目。我们继续更新与先前客户的业务关系，并积
极投标以获得更多项目。
市场仍然充满挑战，但我们有信心能够提高营业
额，并让该部门开始为本集团业绩作出贡献。
2. Building Solutions
截至二零二五年三月三十一日止年度，BSL录得
分部溢利约0.6百万港元。
于此期间，BSL业绩持续显著改善，销售收益同
比增长58.2%。本公司现已转亏为盈，标志此初
创业务的重大里程碑。
BSL团队持续研究并发掘新产品，我们相信该分
部作为优质建筑产品和服务供应商的声誉将不断
提升。
3. 策略投资
截至二零二五年三月三十一日止年度，本集团的
策略投资分部录得分部溢利约0.9百万港元。
该分部溢利乃由于我们于大型房地产投资信托基
金的投资出现未实现公平值收益而实现，该香港
上市公司拥有及管理多元化及优质的投资组合，
包括遍布亚洲的零售设施、停车场、写字楼及物
流资产。
During the period, the Group completed 12 projects and was
awarded 13 projects, of which 11 are fiting-out projects and
2 are A&A projects.
Whilst tendering remained tough, we are hapy to report that
during the later part of the period, we achieved significant
suces securing four large projects that wil ocupy our
teams for a considerable part of 2025. The total value of
these four projects exceded our entire turnover for the
2024/2025 financial year and as a result, we are moving into
the 2025/2026 financial year on a very strong basis.
In Macau, we were pleased to secure our first project since
re-starting the busines. We continue to refresh busines
relations with our previous clients and we are agresively
tendering to secure further projects.
The market is stil chalenging but we are confident that we
can increase turnover and have this division start to contribute
to the Group’s results.
2. Building Solutions
For the year ended 31 March 2025, BSL has registered a
segment profit of aproximately HK$0.6 milion.
This period marked a continuing and significant improvement
in the performance of BSL which saw revenue from sales
increased 58.2% year on year. The company has now
entered into profitable teritory, a significant milestone for this
start-up.
The team at BSL continue to research and identify new
products and we believe the divisions reputation as a provider
of high quality building products and services continues to
grow.
3. Strategic Investments
For the year ended 31 March 2025, the strategic investments
division of the Group has registered a segment profit of
aproximately HK$0.9 milion.
The segment profit is realised from an unrealised fair value
gain of our investment in a large Real Estate Investment Trust,
a Hong Kong listed company which owns and manages a
diversified and high-quality portfolio including retail facilities,
car parks, ofices and logistics asets acros Asia.
IBI Group Holdings Limited
2024/2025年度报告
CHAIRMAN’S STATEMENT
主席报告
就本集团的日本资产而言，即位于北海道俱知安
町的地块，本集团继续对该地块进行分析并制定
最佳战略。分析显示更大规模的开发可带来显著
的经济效益及更高的投资回报，因此本集团继续
考虑扩大此项目。
展望未来，本集团将继续寻找潜在的投资机会，
我们期待就此公布进一步成功。
4. 投资物业
截至二零二五年三月三十一日止年度，本集团的
物业投资部录得分部溢利约2.5百万港元。
位于爱尔兰都柏林的物业（「该物业」）持续录得稳
健业绩，我们很欣慰能维持百分之百的出租率。
期内，我们委聘专业规划建筑师对西翼屋顶区域
进行勘察，以期建造额外的商业空间。建筑师协
助我们对空间进行初步设计，根据该等信息，我
们要求并获准与当地政府规划办公室进行规划前
会议。
我们欣然告知大家，规划办公室对我们的提案给
予了积极的反馈，并表示彼等不反对在大楼西翼
增建一层。这将为我们提供额外2,500平方英呎
的可租用空间，进而对该物业的估值产生正面影
响。
With regards to the Group’s asets in Japan, namely the plots
of land in Kutchan, Hokaido, the Group continues to analyse
an optimum strategy for the site. The Group continues to lok
at expanding this project as the analysis shows that a larger
scale development could provide significant economies of
scale and a far greater return on investment.
Moving forward, the Group wil continue to lok at potential
investment oportunities and we lok forward to anouncing
further suceses in this regard.
4. Property Investments
For the year ended 31 March 2025, the property investment
division of the Group has registered a segment profit of
aproximately HK$2.5 milion.
The property in Dublin, Ireland (the “Property”) continues
to produce solid results and we are pleased that we can
maintain the building at one hundred percent ocupancy.
During the period, we engaged a specialist planing architect
to undertake a survey of the west wing rof top area with a
view to building aditional comercial space. The architect
asisted us with puting together an initial design for the
space and with this information, we requested and were
granted a pre-planing meting with the local Government
planing ofice.
We are pleased to advise that the planing ofice gave us
positive fedback on our proposal and advised that they
would not have any objection to the construction of an
aditional flor on the west wing of the building. This would
provide us with an aditional 2,500 sq ft of tenantable space
which in turn, would have a positive impact on the valuation
of the Property.
IBI Group Holdings Limited
Anual Report 2024/2025
CHAIRMAN’S STATEMENT
主席报告
展望未来
尽管中美之间的贸易战先前已在商界造成负面影响，
但特朗普(Donald Trump)的贸易政策目前在全球造成
的混乱却无法完全预料。
讽刺的是，由于紧张的投资者将资金从美国转移至亚
洲，目前全球经历的波动现正令香港受惠。我们希望
持续这种情况，并在某一程度上抵销中国内地制造业
目前所遭受的困难。
尽管如此，我们仍对香港的发展感到乐观，并注意到
访港旅游显著增加，而各地能源水平亦普遍提升。我
们看好香港经济，并期待二零二五╱二零二六财政年
度的业务水平有所提升。
一如既往，风险管理仍然是我们高级管理层的关注重
点，我们相信在严格的成本控制下及谨慎选择新项目
机会，我们将能够实现理想的全年业绩。
致谢
我们谨此感谢我们的同事、客户以及有助我们于所选
行业取得成功的众多机构及个别人士。我们期待与该
等人才继续合作，于二零二五年及此后取得更大的成功。
代表董事会
主席
Neil David Howard
香港，二零二五年六月二十六日
MOVING FORWARD
Whilst the trade war betwen the USA and China had previously
created negativity in the busines comunity, the chaos curently
being felt globaly as a result of Donald Trump’s trade policies could
not have ben fuly anticipated.
Ironicaly, the volatility curently being experienced worldwide is now
benefiting Hong Kong as nervous investors re-direct their funds
away from the US and into Asia. We are hoping that this situation
continues and can somewhat ofset the pain that is curently being
felt in Mainland China in the manufacturing sector.
Irespective of the above, we continue to fel positive about Hong
Kong and have noticed a significant increase in in-bound tourism
as wel as a general improvement in the teritories’ energy levels.
We are positive on the Hong Kong economy and lok forward to
increased levels of busines through the 2025/2026 financial year.
As always, the management of risk continues to be a key
component for our senior management and we believe that
with strong cost control and the careful selection of new project
oportunities, we wil be able to deliver a positive set of ful year
results.
APRECIATION
We would like to thank our coleagues, our clients and the myriad
of organisations and individuals that help us achieve suces in our
chosen fields. We lok forward to continuing our asociation with
these talented people and achieving great suces through 2025
and on.
On behalf of the Board
Neil David Howard
Chairman
Hong Kong, 26 June 2025
| Year ended 31 March | |||||
|---|---|---|---|---|---|
| 截至三月三十一日止年度 | |||||
| 2025 | 2024 | ||||
| 二零二五年 | 二零二四年 | ||||
| HK$’000 | % of revenue | HK$’000 | % of revenue | ||
| 千港元 | 占收益 百分比 | 千港元 | 占收益 百分比 | ||
| 311,142 | 99.4% |
|---|---|
| 1,846 | 0.6% |
| 312,988 | 100.0% |
| Year ended 31 March | |||||
|---|---|---|---|---|---|
| 截至三月三十一日止年度 | |||||
| 2025 | 2024 | ||||
| 二零二五年 | 二零二四年 | ||||
| HK$’000 | % of revenue | HK$’000 | % of revenue | ||
| 千港元 | 占收益 百分比 | 千港元 | 占收益 百分比 | ||
| 194,385 | 62.1% |
|---|---|
| 118,603 | 37.9% |
| 312,988 | 100.0% |
IBI Group Holdings Limited
Anual Report 2024/2025
MANAGEMENT DISCUSION AND ANALYSIS
管理层讨论及分析
财务回顾
收益、毛利及毛利率
承建
本集团为专注于提供翻新服务的建筑承建商，担任香
港及澳门私营机构物业项目的总承建商。我们的两大
类项目为(i)装修项目；及(i)A&A项目。
按项目地点划分的收益
按项目种类划分的收益
FINANCIAL REVIEW
Revenue, gros profit and gros profit margin
Contracting
The Group is a building contractor focusing on providing renovation
services as a main contractor for property projects in the private
sector in Hong Kong and Macau. Our two main types of projects
are (i) fiting-out projects; and (i) A&A projects.
Revenue by geographical location of projects
Hong Kong香港516,808100.0%
Macau澳门–0.0%
Total总计516,808100.0%
Revenue by type of projects
Fiting-out projects装修项目410,54979.4%
A&A projectsA&A项目106,25920.6%
Total总计516,808100.0%
IBI Group Holdings Limited
2024/2025年度报告
MANAGEMENT DISCUSION AND ANALYSIS
管理层讨论及分析
财务回顾（续）
收益、毛利及毛利率（续）
本集团截至二零二五年三月三十一日止年度的承建
收益约为313.0百万港元，较上一个财政年度减少约
203.8百万港元或约39.4%。本集团承建收益减少主
要由于本集团获得的项目规模较小。澳门于截至二零
二五年三月三十一日止年度录得收益1.8百万港元，原
因为其于年内重新开展业务。
本集团的承建毛利由截至二零二四年三月三十一日止
年度约39.2百万港元减少约8.0百万港元或20.4%至
截至二零二五年三月三十一日止年度约31.2百万港
元。然而，本集团的承建毛利率由截至二零二四年三
月三十一日止年度约7.6%增加至截至二零二五年三月
三十一日止年度约10.0%。毛利率增加主要由于我们
的商业团队主动进行最终核算所致。
Building Solutions
我们的业务分部BSL于截至二零二五年三月三十一
日止年度录得收益约8.9百万港元，而截至二零二四
年三月三十一日止年度约为5.6百万港元，增幅约为
3.3百万港元或58.2%。毛利亦由截至二零二四年三
月三十一日止年度的约2.8百万港元增加约0.8百万港
元或26.7%至截至二零二五年三月三十一日止年度的
约3.6百万港元。BSL截至二零二五年三月三十一日
止年度的毛利率为约40.3%，而截至二零二四年三月
三十一日止年度为约50.3%。BSL的收益增加乃主要
由于节能照明产品的销量增加所致。
FINANCIAL REVIEW (CONTINUED)
Revenue, gros profit and gros profit margin (Continued)
The Group’s revenue from contracting for the year ended 31 March
2025 was aproximately HK$313.0 milion, which represented
a decrease of aproximately HK$203.8 milion or aproximately
39.4% over the last financial year. The decrease in the Group’s
contracting revenue was mainly due to the smaler size projects
secured by the Group. Revenue of HK$1.8 milion was recorded
from Macau for the year ended 31 March 2025 since its re-start of
busines during the year.
The Group’s gros profit from contracting decreased by
aproximately HK$8.0 milion or 20.4% from aproximately
HK$39.2 milion for the year ended 31 March 2024 to aproximately
HK$31.2 milion for the year ended 31 March 2025. Yet, the
Group’s gros profit margin from contracting for the year ended 31
March 2025 increased to aproximately 10.0% from aproximately
7.6% for the year ended 31 March 2024. The increase in gros
profit margin was mainly atributable to our comercial team’s
proactive final acounting.
Building Solutions
Our busines segment, BSL reported revenue of aproximately
HK$8.9 milion for the year ended 31 March 2025 as compared to
aproximately HK$5.6 milion for the year ended 31 March 2024,
which represented an increase of aproximately HK$3.3 milion or
58.2%. Gros profit has also increased by aproximately HK$0.8
milion or 26.7% from aproximately HK$2.8 milion for the year
ended 31 March 2024 to aproximately HK$3.6 milion for the year
ended 31 March 2025. The gros profit margin from BSL for the
year ended 31 March 2025 was aproximately 40.3% as compared
to aproximately 50.3% for the year ended 31 March 2024. The
increase in revenue of BSL was mainly due to the increased sales
of energy eficient lighting products.
IBI Group Holdings Limited
Anual Report 2024/2025
MANAGEMENT DISCUSION AND ANALYSIS
管理层讨论及分析
财务回顾（续）
收益、毛利及毛利率（续）
策略投资
截至二零二五年三月三十一日止年度，本集团自按公
平值计入损益的金融资产获得股息约0.5百万港元（二
零二四年：0.5百万港元），并确认按公平值计入损益
的金融资产的公平值收益净额约0.5百万港元，而截至
二零二四年三月三十一日止年度的公平值亏损净额约
为3.3百万港元。详情请参阅本报告「所持重大投资」
一节。
物业投资
截至二零二五年三月三十一日止年度，本集团获得该
物业的租金收入总额约8.5百万港元。有关详情，请参
阅本报告「所持重大投资」一节。
行政及其他经营开支
本集团截至二零二五年三月三十一日止年度的行政及
其他经营开支约为30.0百万港元，较截至二零二四年
三月三十一日止年度约30.7百万港元减少约0.6百万
港元或2.1%。由于有效控制成本，行政及其他经营开
支的水平维持不变。
所得税开支
本集团于香港、澳门及爱尔兰经营业务，须缴纳(i)按
报告期间估计应课税溢利的8.25%（就首2百万港元而
言）及16.5%（就余额而言）计算的香港利得税；(i)按报
告期间有关税收起征点以上的应课税溢利的12.0%计
算的澳门所得补充税：及(i)爱尔兰企业税25%。截至
二零二五年三月三十一日止年度，本集团录得所得税
开支约1.9百万港元（二零二四年：2.3百万港元），即
实际税率约为18.3%（二零二四年：88.5%）。于截至
二零二五年三月三十一日止年度，本集团实际税率下
调主要由于去年不可扣税投资物业的重大公平值亏损。
FINANCIAL REVIEW (CONTINUED)
Revenue, gros profit and gros profit margin (Continued)
Strategic Investments
During the year ended 31 March 2025, the Group received
dividends from financial asets at FVTPL of aproximately HK$0.5
milion (2024: HK$0.5 milion) and recognised net fair value gains
on financial asets at FVTPL of aproximately HK$0.5 milion as
compared to net fair value loses of aproximately HK$3.3 milion
for the year ended 31 March 2024. For details, please se section
headed “Significant investments held” in this report.
Property Investments
During the year ended 31 March 2025, the Group has received
gros rental income of aproximately HK$8.5 milion from the
Property. For details, please se section headed “Significant
investments held” in this report.
Administrative and other operating expenses
The Group’s administrative and other operating expenses for the
year ended 31 March 2025 were aproximately HK$30.0 milion,
representing a decrease of aproximately HK$0.6 milion or 2.1%
from aproximately HK$30.7 milion for the year ended 31 March
2024. The level of administrative and other operating expenses has
remained constant as a result of efective cost control.
Income tax expense
The Group’s operations are based in Hong Kong, Macau and
Ireland, and are subject to (i) Hong Kong profits tax calculated
at 8.25% for the first HK$2 milion and 16.5% on the remaining
balance of estimated asesable profits during the reporting
period; (i) Macau complementary tax calculated at 12.0% on the
taxable profits over the relevant tax threshold during the reporting
period; and (i) Ireland corporation tax of 25%. For the year ended
31 March 2025, the Group recorded income tax expense of
aproximately HK$1.9 milion (2024: HK$2.3 milion) representing
an efective tax rate of aproximately 18.3% (2024: 88.5%). The
decrease in the Group’s efective tax rate during the year ended
31 March 2025 was mainly due to significant fair value los on
investment property in the previous year which was non-deductible
for tax purpose.
IBI Group Holdings Limited
2024/2025年度报告
MANAGEMENT DISCUSION AND ANALYSIS
管理层讨论及分析
财务回顾（续）
年内溢利
本集团截至二零二五年三月三十一日止年度的本公司
拥有人应占溢利约为8.4百万港元，较截至二零二四年
三月三十一日止年度约0.4百万港元增加约8.0百万港
元或2,297.1%。该增加主要原因为(i)确认按公平值计
入损益的金融资产生的未变现溢利，而去年则为未
变现亏损；(i)去年确认投资物业的重大公平值亏损；
及(i)现正为本集团贡献溢利的Building Solutions分部
改善。
银行借款
于二零二五年三月三十一日，本集团的银行借款约为
80.3百万港元（二零二四年三月三十一日：78.0百万港
元）。概无利用金融工具进行对冲，亦无任何以即期借
款及╱或其他对冲工具对冲的外币净投资。
本集团以投资物业作抵押之银行借款约54.3百万港元
原定于二零二五年五月偿还。于年结日后，本集团已
申请贷款延期并将银行借款延期至二零二七年偿还。
流动资金及财务资源
于二零二五年三月三十一日，本集团有流动资产约
248.4百万港元（二零二四年三月三十一日：294.0百万
港元），包括主要以港元计值的现金及现金等价物约
18.4百万港元（二零二四年三月三十一日：21.1百万港
元）。于二零二五年三月三十一日，本集团有非流动负
债约零港元（二零二四年三月三十一日：56.2百万港元）
（主要由银行借款组成），而其流动负债则约为205.4
百万港元（二零二四年三月三十一日：201.9百万港元），
主要为日常营运中产生的应付款项。因此，于二零
二五年三月三十一日的流动比率（即流动资产相对流
动负债的比率）约为1.2倍（二零二四年三月三十一日：
1.5倍）。本集团营运资金需要主要由内部资源拨付。
FINANCIAL REVIEW (CONTINUED)
Profit for the year
The Group’s profit atributable to the owners of the Company for
the year ended 31 March 2025 amounted to aproximately HK$8.4
milion, representing an increase of aproximately HK$8.0 milion
or 2,297.1% from aproximately HK$0.4 milion for the year ended
31 March 2024. Such increase was mainly atributable to (i) the
recognition of the unrealised profit generated from financial asets
at fair value through profit or los as compared to an unrealised los
in the previous year; (i) the recognition of a significant fair value los
on investment property in the previous year; and (i) improvement in
the Building Solutions segment which is now contributing profit to
the Group.
Bank borowings
As at 31 March 2025, the Group had bank borowings of
aproximately HK$80.3 milion (31 March 2024: HK$78.0 milion).
No financial instruments were used for hedging purposes, nor
were there any foreign curency net investments hedged by curent
borowings and/or other hedging instruments.
The bank borowing of aproximately HK$54.3 milion secured by
the investment property of the Group was originaly repayable in
May 2025. Subsequent to the year end, the Group has aplied a
loan extension and the bank borowing is extended to be repayable
up to 2027.
Liquidity and financial resources
As at 31 March 2025, the Group had curent asets of
aproximately HK$248.4 milion (31 March 2024: HK$294.0 milion)
which comprised cash and cash equivalents of aproximately
HK$18.4 milion (31 March 2024: HK$21.1 milion), mainly
denominated in Hong Kong dolars. As at 31 March 2025, the
Group had non-curent liabilities of aproximately HK$nil (31 March
2024: HK$56.2 milion) consisting mainly of bank borowings, and
its curent liabilities amounted to aproximately HK$205.4 milion
(31 March 2024: HK$201.9 milion), consisting mainly of payables
arising in the normal course of busines operation. Acordingly, the
curent ratio, being the ratio of curent asets to curent liabilities,
was aproximately 1.2 times as at 31 March 2025 (31 March 2024:
1.5 times). The Group’s working capital requirements were mainly
financed by internal resources.
IBI Group Holdings Limited
Anual Report 2024/2025
MANAGEMENT DISCUSION AND ANALYSIS
管理层讨论及分析
财务回顾（续）
资产负债比率
本集团的资产负债比率界定为报告期末债务总额除
以报告期末权益总额所得百分比。于二零二五年三月
三十一日，本集团资产负债比率约为49.0%（二零二四
年三月三十一日：50.6%）。债务总额包括租赁负债及
银行借款。
库务政策
在库务政策上，本集团采取审慎的理财原则，故回顾
期间一直维持稳健的流动资金状况。本集团不断评估
其客户的信用状况及财政状况，务求降低信贷风险。
为调控流动资金风险，董事会密切监察本集团的流动
资金状况，确保本集团资产、负债及其他承担的流动
结构能满足其不时的资金需要。
外汇风险
于二零二五年三月三十一日，本集团面临的货币风险
主要归因于现金及现金等价物以及银行借款，该等投
资以欧元计值。本集团面临若干外汇风险，惟预计未
来的汇率波动不会造成重大经营困难或流动资金问题。
除上文所披露者外，截至二零二五年三月三十一日止
年度，由于本集团的货币资产及交易主要以港元计值，
其并无面对任何因外币汇率变动而导致的重大风险。
截至二零二五年三月三十一日止年度，本集团并无进
行任何衍生工具活动，亦无利用任何金融工具对冲外
币风险。
资本架构
本公司股份于二零一六年十月十四日（「上市日期」）在
联交所主板上市。本公司的资本架构自上市日期起及
截至本报告日期止并无任何变动。本公司的资本包括
普通股及资本储备。
FINANCIAL REVIEW (CONTINUED)
Gearing ratio
The gearing ratio of the Group is defined as a percentage of total
debts at the end of the reporting period divided by total equity at
the end of the reporting period. As at 31 March 2025, the gearing
ratio of the Group was aproximately 49.0% (31 March 2024:
50.6%). Total debts include lease liabilities and bank borowings.
Treasury policies
The Group has adopted a prudent financial management aproach
towards its treasury policies and thus maintained a healthy
liquidity position throughout the period under review. The Group
strives to reduce exposure to credit risk by performing ongoing
credit asesments and evaluations of the financial status of its
customers. To manage liquidity risk, 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 from time to time.
Foreign exchange exposure
As at 31 March 2025, the Group’s exposure to curency risks
is mainly atributable to cash and cash equivalents and bank
borowings, which are denominated in Euro. The Group was
exposed to certain foreign curency exchange risks but it does not
anticipate future curency fluctuations to cause material operational
dificulties or liquidity problems.
Save as disclosed above, the Group’s monetary asets and
transactions are principaly denominated in Hong Kong dolars, it
did not have any significant exposure to risk resulting from changes
in foreign curency exchange rates during the year ended 31 March
2025.
During the year ended 31 March 2025, the Group did not engage
in any derivatives activities and did not comit to any financial
instruments to hedge its exposure to foreign curency risk.
Capital structure
The shares of the Company were listed on the Main Board of the
Stock Exchange on 14 October 2016 (the “Listing Date”). There
has ben no change in the capital structure of the Company since
the Listing Date and up to the date of this report. The capital of the
Company comprises ordinary shares and capital reserves.
IBI Group Holdings Limited
2024/2025年度报告
MANAGEMENT DISCUSION AND ANALYSIS
管理层讨论及分析
财务回顾（续）
资本承担
于二零二五年三月三十一日，本集团并无任何重大资
本承担（二零二四年三月三十一日：无）。
购股权计划
本公司于二零一六年九月二十日透过本公司当时股东
的书面决议案有条件地批准并采纳购股权计划。购股
权计划已于上市日期生效，并将维持有效直至上市日
期十周年止。
购股权计划旨在令本公司可灵活给予合资格参与者激
励、奖赏、酬劳、报酬及福利，以及达致董事会不时
批准的其他目的。
自购股权计划采纳以来直至本报告日期，概无任何购
股权计划项下购股权获授出、行使、注销或失效。于
二零二四年四月一日及二零二五年三月三十一日，根
据购股权计划可供授出之购股权数目为80,000,000份，
占于二零二五年三月三十一日已发行股份（不包括库
存股份）的10%。根据购股权计划可供发行的股份总数
为 80,000,000股，占于本报告日期已发行股份（不包
括库存股份）的10%。截至二零二五年三月三十一日止
年度，根据购股权计划授出之购股权而可能发行之股
份总数除以截至二零二五年三月三十一日止年度已发
行股份（不包括库存股份）之加权平均数为零。
所持重大投资
于二零二五年三月三十一日，本集团持有计入按公平
值计入损益的金融资产的上市股权投资约7.2百万港
元（二零二四年三月三十一日：6.7百万港元）。
截至二零二五年三月三十一日止年度，本集团收取股
息约0.5百万港元。本集团亦已确认按公平值计入损益
的金融资产之未变现收益净额约0.5百万港元。上市股
权投资主要包括在香港上市的优质蓝筹房地产投资信
托基金。本集团预期将长期从收取股息及资本收益中
获益。本集团将持续监察及评估该等投资的表现，并
作出及时及适当的投资调整，以为本集团提高投资回
报并最终惠及本公司股东（「股东」）的整体利益。
FINANCIAL REVIEW (CONTINUED)
Capital comitments
As at 31 March 2025, the Group did not have any significant capital
comitments (31 March 2024: nil).
Share Option Scheme
The Company conditionaly aproved and adopted the Share
Option Scheme on 20 September 2016 by pasing of a writen
resolution of the then shareholders of the Company. The Share
Option Scheme became efective on the Listing Date and wil
remain in force until the tenth aniversary of the Listing Date.
The purpose of the Share Option Scheme is to provide the Company
a flexible means of giving incentive to, rewarding, remunerating,
compensating and providing benefits to eligible participants and for
such other purposes as the Board aproves from time to time.
Since the adoption of the Share Option Scheme and up to the date
of this report, no option was granted, exercised, canceled or lapsed
under the Share Option Scheme. The number of options available
for grant under the Share Option Scheme as of 1 April 2024 and 31
March 2025 was 80,000,000, which represented 10% of the isued
Shares (excluding treasury shares) as of 31 March 2025. The total
number of shares available for isue under the Share Option Scheme
is 80,000,000, representing 10% of the isued Shares (excluding
treasury shares) as at the date of this report. The total number of
Shares that may be isued in respect of options granted under the
Share Option Scheme during the year ended 31 March 2025 divided
by the weighted average number of Shares in isue (excluding
treasury shares) for the year ended 31 March 2025 was Nil.
Significant investments held
As at 31 March 2025, the Group had listed equity investments
included in financial asets at FVTPL of aproximately HK$7.2
milion (31 March 2024: HK$6.7 milion).
During the year ended 31 March 2025, the Group received
dividends of aproximately HK$0.5 milion. The Group had also
recognised a net unrealised gain on financial asets at FVTPL of
aproximately HK$0.5 milion. The listed equity investments mainly
comprised a high quality blue chip real estate investment trust listed
in Hong Kong. The Group expects to benefit from the receipt of
dividends and capital gains in the long term. The Group wil continue
to monitor and ases the performance of these investments and
make timely and apropriate investment adjustments to enhance
the returns on investment for the Group and ultimately benefit the
shareholders of the Company (the “Shareholders”) as a whole.
IBI Group Holdings Limited
Anual Report 2024/2025
MANAGEMENT DISCUSION AND ANALYSIS
管理层讨论及分析
财务回顾（续）
所持重大投资（续）
于二零二五年三月三十一日，本集团持有的上市股权
投资的公平值占本集团总资产不到5%。
于截至二零二三年三月三十一日止年度，本集团收购
该物业。该物业由本集团持有，以赚取租金，因此，
分类为投资物业。该物业已于截至二零二五年三月
三十一日止年度产生的租金收入总额约8.5百万港元。
公平值亏损约0.3百万港元亦于截至二零二五年三月
三十一日止年度确认。该物业乃根据独立专业估值师
进行的估值按公平值列报。我们预期该物业于未来将
产生稳定的租金收入，并有可能实现资本增值。
除上文所披露者外，本集团并无持有其他重大投资。
重大投资及资本资产的未来计划
除本报告所披露者外，本集团于二零二五年三月
三十一日并无其他有关重大投资及资本资产的计划。
重大收购及出售
截至二零二五年三月三十一日止年度，本集团并无任
何有关附属公司、联营公司及合营企业的重大收购及
出售。
资产抵押
于二零二五年三月三十一日，已抵押存款合共约14.7
百万港元（二零二四年：13.4百万港元）已存入银行或
保险公司，作为银行及保险公司就若干客户的项目向
其发出履约保证的抵押品。已抵押存款将于银行或保
险公司信纳履约保证项下项目将不会产生申索时方会
解除。
此外，于二零二五年三月三十一日，本集团已抵押以
获得银行借款的资产包括一项投资物业、计入按公平
值计入损益的金融资产的上市股本投资及贸易应收款
项，分别约为115.4百万港元、7.2百万港元及8.6百万
港元（二零二四年三月三十一日：分别为113.2百万港
元、6.7百万港元及零港元）。
FINANCIAL REVIEW (CONTINUED)
Significant investments held (Continued)
As at 31 March 2025, the fair value of the listed equity investments
held by the Group represented les than 5% of the total asets of
the Group.
During the year ended 31 March 2023, the Group acquired
the Property. The Property is held by the Group to earn rentals
and hence is clasified as investment property. The Property
has generated gros rental income of aproximately HK$8.5
milion during the year ended 31 March 2025. A fair value los of
aproximately HK$0.3 milion was also recognised for the year
ended 31 March 2025. The Property is stated at fair value based
on a valuation performed by an independent profesional valuer.
We expect that the Property wil generate stable rental income in
the future with a potential for capital apreciation.
Save as disclosed above, there was no other significant investment
held by the Group.
Future plans for material investments and capital asets
Save as disclosed in this report, the Group did not have other plans
for material investments and capital asets as at 31 March 2025.
Material acquisitions and disposals
During the year ended 31 March 2025, the Group did not have any
material acquisitions and disposals of subsidiaries, asociates and
joint ventures.
Pledge of asets
As at 31 March 2025, pledged deposits in the sum of
aproximately HK$14.7 milion (2024: HK$13.4 milion) were
placed with a bank or an insurer as securities for the performance
bonds isued by the bank and insurer to certain customers on their
projects. The pledged deposits wil be released when the bank or
insurer is satisfied that no claims wil arise from the projects under
the performance bonds.
In adition, the Group’s asets pledged for securing bank
borowings comprised an investment property, listed equity
investments included in financial asets at FVTPL and trade
receivables, which amounted to aproximately HK$115.4 milion,
HK$7.2 milion and HK$8.6 milion respectively as at 31 March
2025 (31 March 2024: HK$113.2 milion, HK$6.7 milion and HK$nil
respectively).
IBI Group Holdings Limited
2024/2025年度报告
MANAGEMENT DISCUSION AND ANALYSIS
管理层讨论及分析
财务回顾（续）
或然负债
于二零二五年三月三十一日，本集团并无任何重大或
然负债（二零二四年三月三十一日：无）。
雇员资料
于二零二五年三月三十一日，本集团有雇员93名（二
零二四年三月三十一日：99名），包括执行董事。本
集团劳工（包括高级管理层）的性别比例为男性73%
对女性27%。本集团在聘用雇员时，将继续不时考虑
多元化的观点，包括性别多元化。截至二零二五年三
月三十一日止年度的总员工成本（包括董事薪酬）约为
64.2百万港元，而截至二零二四年三月三十一日止年
度则约为72.5百万港元。酬金乃参考市场惯例及个别
雇员的表现、资历及经验厘定。
除基本薪金外，本集团亦可视乎本集团业绩及个人表
现发放花红。其他员工福利包括向香港的强制性公积
金计划供款，以及为本集团的雇员而设的各项福利计
划，包括退休金、医疗保险、失业保险及其他相关保险。
本集团雇员的薪酬及福利均维持一定竞争力，雇员在
本集团薪酬及花红制度的一般框架（由管理层每年检讨）
下获论功行赏。本集团亦设有购股权计划，董事及本
集团雇员可据此获授予购股权以认购本公司股份。
本集团鼓励其雇员自我增值，并适当提供在职培训。
买卖或赎回本公司的上市证券
截至二零二五年三月三十一日止年度，本公司或其任
何附属公司均无买卖或赎回本公司任何上市证券。
FINANCIAL REVIEW (CONTINUED)
Contingent liabilities
The Group had no material contingent liabilities as at 31 March
2025 (31 March 2024: nil).
Information on employes
As at 31 March 2025, the Group had 93 employes (31 March
2024: 99), including the executive Directors. The gender ratio
of the Group’s workforce (including senior management) was
73% male to 27% female. The Group shal continue to take into
acount diversity perspectives including gender diversity in its
hiring of employes from time to time. Total staf costs (including
Directors’ emoluments) were aproximately HK$64.2 milion for
the year ended 31 March 2025, as compared with aproximately
HK$72.5 milion for the year ended 31 March 2024. Remuneration
is determined with reference to market norms and individual
employe’s performance, qualification and experience.
On top of basic salaries, bonuses may be paid by reference to
the Group’s performance as wel as individual’s performance.
Other staf benefits include contributions to Mandatory Provident
Fund scheme in Hong Kong and various welfare plans including
the provision of pension funds, medical insurance, unemployment
insurance and other relevant insurance for employes of the Group.
The salaries and benefits of the Group’s employes are kept at a
competitive level and employes are rewarded on a performance-
related basis within the general framework of the Group’s salary
and bonus system, which is reviewed by management anualy.
The Group also operates the Share Option Scheme, pursuant to
which options to subscribe for shares of the Company may be
granted to the Directors and employes of the Group.
The Group encourages self-development of its employes and
provides on-the-job training where apropriate.
PURCHASE, SALE OR REDEMPTION OF
THE COMPANY’S LISTED SECURITIES
During the year ended 31 March 2025, neither the Company nor
any of its subsidiaries purchased, sold or redemed any of the
Company’s listed securities.
IBI Group Holdings Limited
Anual Report 2024/2025
MANAGEMENT DISCUSION AND ANALYSIS
管理层讨论及分析
企业管治
本公司确认，除偏离守则条文C.2.1外，截至二零二五
年三月三十一日止年度，本公司一直遵守上市规则附
录C1内企业管治守则所载所有守则条文（「守则条文」）。
本公司遵守所有守则条文，惟规定主席与行政总裁的
角色应由不同人士担任的守则条文C.2.1除外。根据企
业管治守则守则条文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。Neil David Howard
先生兼任两个职务。自二零六年加入本集团以来，
Howard先生一直主要负责监督本集团的整体管理及业
务发展以及就业务管理及营运制定业务策略及政策。
考虑到管理的持续及业务策略的实施，董事（包括独立
非执行董事）认为，Howard先生同时担任行政总裁及
董事会主席职务最为合适，当前安排属有利且符合本
公司及股东的整体利益。本公司将继续进行检讨，并
会在计及本集团整体情况后考虑于适当及合适时候将
董事会主席与本公司行政总裁的角色分开。
CORPORATE GOVERNANCE
The Company confirms that, other than the deviation from
code provision C.2.1, the Company has complied with al the
code provisions (“Code Provisions”) set out in the Corporate
Governance Code contained in Apendix C1 to the Listing Rules
throughout the year ended 31 March 2025.
Our Company complies with al the Code Provisions with the
exception for Code Provision C.2.1, which requires the roles
of chairman and chief executive be diferent individuals. Under
Code Provision C.2.1 of the Corporate Governance Code, the
roles of chairman and chief executive should be separate and
should not be performed by the same individual. Mr. Neil David
Howard holds both positions. Mr. Howard has ben primarily
responsible for overseing our Group’s general management and
busines development and for formulating busines strategies and
policies for our busines management and operations since he
joined our Group in 2006. Taking into acount the continuation of
management and the implementation of our busines strategies,
our Directors (including our independent non-executive Directors)
consider it is most suitable for Mr. Howard to hold both the
positions of chief executive oficer and the chairman of our Board
and the present arangements are beneficial to and in the interests
of the Company and the Shareholders as a whole. Our Company
wil continue to review and consider spliting the roles of chairman
of the Board and chief executive oficer of our Company at a time
when it is apropriate and suitable by taking into acount the
circumstances of our Group as a whole.
IBI Group Holdings Limited
2024/2025年度报告
BIOGRAPHIES OF THE DIRECTORS AND SENIOR MANAGEMENT
董事及高级管理层简历
董事会
执行董事
Neil David Howard先生
Howard先生，54岁，于二零一六年四月十三日获委任
为董事，后于二零一六年六月十一日调任为执行董事、
董事会主席兼行政总裁。Howard先生担任各附属公司
的董事。彼为提名委员会主席及薪酬委员会成员。彼
负责本集团的企业策略规划及整体业务发展。Howard
先生于股份中的权益载于本年报内董事会报告「董事
及主要行政人员于股份、相关股份及债权证中的权益
或淡仓」一节。
自二零六年十一月作为IBI Limited的董事及自二零
零七年八月作为IBI Macau的董事总经理加入本集团以
来，Howard先生已与本集团合作逾十八年。
于二零六年十一月加入本集团前，Howard先生于
二零二年七月至二零五年三月在Global Beauty
International Management Limited（主要从事健康及生活
时尚服务）担任区域营运总监，主要负责提升该公司亚
洲区疗程中心的组合。
Howard先生于一九三年七月毕业于英国西英格兰
大学(University of the West of England, Bristol)，获颁工
料测量理学士学位。Howard先生其后于二零
年七月在澳洲南昆士兰大学(The University of Southern
Quensland)完成高级破产法律及实务1级课程，并于
二零一年十一月在香港取得香港会计师公会(Hong
Kong Society of Acountants)（现称香港会计师公会
(Hong Kong Institute of Certified Public Acountants)）破
产管理文凭。
BOARD OF DIRECTORS
Executive Directors
Mr. Neil David Howard
Mr. Howard, aged 54, was apointed as a Director on 13 April
2016 and redesignated as an executive Director, the chairman
of our Board and chief executive oficer on 11 June 2016. Mr.
Howard is a director of each of our subsidiaries. He is the chairman
of the Nomination Comite and a member of the Remuneration
Comite. He is responsible for corporate strategic planing and
overal busines development of our Group. Mr. Howard’s interests
in the Shares are set out in the section headed “Directors’ and the
Chief Executive’s Interests or Short Positions in Shares, Underlying
Shares and Debentures” of the directors’ report in this anual
report.
Mr. Howard has ben with our Group for over 18 years since
joining our Group as a director of IBI Limited in November 2006
and a managing director of IBI Macau since August 2007.
Prior to joining our Group in November 2006, Mr. Howard was
the regional operations director at a company curently known
as Global Beauty International Management Limited (principaly
engaged in health and lifestyle services) from July 2002 to March
2005 where he was primarily responsible for upgrading the
company’s portfolio of treatment centres throughout the Asia
region.
Mr. Howard graduated from University of the West of England,
Bristol in the United Kingdom with a bachelor’s degre of science
in quantity surveying in July 1993. Mr. Howard then completed
a course in advanced insolvency law and practice 1 from The
University of Southern Quensland in Australia in July 2000. He
also obtained a diploma in insolvency from the Hong Kong Society
of Acountants (curently known as Hong Kong Institute of Certified
Public Acountants) in Hong Kong in November 2001.
IBI Group Holdings Limited
Anual Report 2024/2025
BIOGRAPHIES OF THE DIRECTORS AND SENIOR MANAGEMENT
董事及高级管理层简历
Steven Paul Smithers先生
Smithers先生，57岁，于二零一六年四月十三日获委
任为董事，后于二零一六年六月十一日调任为执行董
事兼营运总监。Smithers先生担任本公司若干附属公
司的董事。彼为薪酬委员会及提名委员会成员。彼负
责本集团的企业策略规划、整体业务发展、管理及营
运。Smithers先生于股份中的权益载于本年报内董事
会报告「董事及主要行政人员于股份、相关股份及债权
证中的权益或淡仓」一节。
Smithers先生在香港建造业积逾30年工作经验。
彼于二零六年加入本集团担任高级项目经理。
于一九六年至二零六年，彼担任保华集团合规
及协调经理，监督投标、资格预审及综合管理。于
一九四年至一九六年，彼于Construction Quality
Management Ltd.担任品质保证顾问，借调至保华集
团。彼持有英国布莱顿理工学院(Brighton Polytechnic)
建筑工程设计及管理学士学位（一九一年）及
莱斯特大学(University of Leicester)工商管理硕士学位
（一九八年）。彼现为英国特许建造学会(Chartered
Institute of Building)资深会员。
Mr. Steven Paul Smithers
Mr. Smithers, aged 57, was apointed as a Director on 13 April
2016 and redesignated as an executive Director and the chief
operations oficer on 11 June 2016. Mr. Smithers is a director
of certain subsidiaries of our Company. He is a member of the
Remuneration Comite and Nomination Comite. He is
responsible for corporate strategic planing, overal busines
development, management and operations of our Group. Mr.
Smithers’ interest in the Shares are set out in the section headed
“Directors’ and the Chief Executive’s Interests or Short Positions
in Shares, Underlying Shares and Debentures” of the Directors’
Report in this anual report.
Mr. Smithers poseses over 30 years of experience in Hong
Kong’s construction industry. He joined the Group in 2006 as
Senior Project Manager. From 1996 to 2006, he was Compliance
and Cordination Manager at Paul Y. group, overseing tenders,
pre-qualification, and general management. From 1994 to 1996
he was a Quality Asurance Consultant at Construction Quality
Management Ltd., seconded to Paul Y. group. He holds a
bachelor’s degre in Building Enginering and Management from
Brighton Polytechnic (1991) and a master’s degre of Busines
Administration from the University of Leicester (1998). He is
curently a felow of the Chartered Institute of Building (FCIOB).
IBI Group Holdings Limited
2024/2025年度报告
BIOGRAPHIES OF THE DIRECTORS AND SENIOR MANAGEMENT
董事及高级管理层简历
独立非执行董事
David John Kenedy先生
Kenedy先生，56岁，于二零一九年六月三十日获委
任为独立非执行董事。彼负责向董事会提供独立意见。
彼为审核委员会主席，以及薪酬委员会及提名委员会
的成员。Kenedy先生自二零一二年起直至二零一九
年一直担任M.S. Asia Group的财务总监兼营运总监。
于二零九年至二零一年，Kenedy先生为
Equititrust Limited的营运总监兼行政总裁；于二零
七年至二零八年，曾任Octaviar Limited（前称MFS
Limited）的营运总监；于一九七年至二零五年，曾
先后担任RSM Hong Kong的高级经理、合伙人及营运
总监；以及于一九五年至一九六年，曾任澳洲格
里菲斯大学(Grifith University)破产管理学兼职讲师。于
一九八年至一九六年，彼亦曾任职于毕马威会计
师事务所，彼于离职前担任经理。
Kenedy先生于二零九年、二零三年及一九八九
年分别获颁昆士兰科技大学(Quensland University
of Technology)法学硕士学位、法学士学位及商业
会计学士学位。彼自二零一八年起获认可为香港律
师；自二零六年起获认可为澳洲昆士兰律师；及自
一九四年起获认可为澳洲特许会计师公会(Institute
of Chartered Acountants)（现称澳洲及新西兰特许会
计师公会(Chartered Acountants Australia and New
Zealand)）会员。
Christopher John Broke先生
Broke先生，56岁，于二零二三年九月三十日获委任
为独立非执行董事。彼为薪酬委员会主席、审核委员
会及提名委员会成员。彼于房地产行业的各个领域积
累了超过35年的工作经验。彼乃皇家特许测量师学会
之前任全球主席兼资深会员、香港测量师学会员、
城市土地学会员及中国香港榄球总会主席，以及香
港墨尔文国际学校务委员会委员。此外，彼自二零
一八年五月起担任领展资产管理有限公司（一间于联
交所主板上市的公司，股份代号：00823）之独立非执
行董事及领汇房地产投资信托基金之管理人。彼亦担
任Kerb Holdings Company Pty Limited顾问委员会委员
成员以及VationX和Peace Inc.的业务顾问。
Independent non-executive Directors
Mr. David John Kenedy
Mr. Kenedy, aged 56, was apointed as an independent non-
executive Director on 30 June 2019. He is responsible for providing
independent advice to our Board. He is the chairman of the Audit
Comite, and a member of the Remuneration Comite and
Nomination Comite. Mr. Kenedy was the chief financial oficer
and the chief operating oficer of M.S. Asia Group from 2012 until
2019.
Mr. Kenedy was the chief operating oficer and the chief executive
oficer of Equititrust Limited betwen 2009 and 2011, the chief
operating oficer of Octaviar Limited (formerly known as MFS
Limited) betwen 2007 and 2008, a senior manager, a partner and
the chief operating oficer of RSM Hong Kong betwen 1997 and
2005, and a part-time lecturer in bankruptcy of Grifith University
in Australia betwen 1995 and 1996. He also worked for KPMG
betwen 1988 and 1996 with his last position being a manager.
Mr. Kenedy obtained a degre of Master of Laws, a Bachelor’s
Degre in Laws and a Bachelor’s Degre in Busines Acounting
from Quensland University of Technology in 2009, 2003 and
1989, respectively. He has ben admited as a solicitor in Hong
Kong since 2018, a solicitor in Quensland, Australia since 2006
and a member of the Institute of Chartered Acountants in Australia
(curently known as Chartered Acountants Australia and New
Zealand) since 1994.
Mr. Christopher John Broke
Mr. Broke, aged 56, was apointed as an independent non-
executive Director on 30 September 2023. He is the chairman
of the Remuneration Comite, and a member of the Audit
Comite and Nomination Comite. He has over 35 years of
experience in various fields of the property industry. He is a global
past president and a felow member of The Royal Institution of
Chartered Surveyors, a member of The Hong Kong Institute of
Surveyors, a member of the Urban Land Institute, and the chairman
of Hong Kong, China Rugby and a member of the Colege Council
of Malvern Colege Hong Kong. In adition, he is an independent
non-executive director of Link Aset Management Limited (a
company listed on the Main Board of the Stock Exchange, stock
code: 00823) and the manager of Link Real Estate Investment
Trust (since May 2018). He is also a member of the advisory board
of Kerb Holdings Company Pty Limited and a busines advisor to
both VationX and Peace, Inc.
IBI Group Holdings Limited
Anual Report 2024/2025
BIOGRAPHIES OF THE DIRECTORS AND SENIOR MANAGEMENT
董事及高级管理层简历
Broke先生于二零一六年十月至二零二零年三月
为Broke Husband Limited共同创办人之一兼董事。
在此之前，彼于二零二年七月至二零一五年十二
月期间曾于世邦魏理仕出任多个与中国及亚洲相
关的高级管理层职位（包括彼最后于亚太区咨询部
担任执行董事总经理一职）。彼亦曾于世邦魏理仕
担任亚太区策略组的常任委员。于一九八九年九
月至二零三年七月期间，彼曾于Hilier Parker、
Broke Hilier Parker、Broke International及显盛保
柏担任多个职位，及后于二零三年随著显盛保柏
被世邦魏理仕收购而加入世邦魏理仕。
Broke先生从英国剑桥大学取得土地经济文学士
学位。
杨家慧女士
杨女士，48岁，于二零二四年十二月三十一日获委
任为独立非执行董事。彼为薪酬委员会、审核委员
会及提名委员会成员。杨女士在金融及保险行业有
24年经验。彼目前担任大湾区财富经纪（香港）有
限公司的负责人，并出任香港独立非执行董事协会
的大使，连系大中华地区的独立非执行董事，促进
他们的专业发展。杨女士现为传承爱乐（In-heritage
Philharmonic）（一间推动香港艺术文化发展的管弦
乐团）的发展主席，并担任香港恒生大学的兼任讲
师，向业界专业人士讲授各种金融概念和亚洲的最
新发展。
杨女士曾担任安达人寿的亚太区首席市场官、
Asurion Asia Pacific Limited的区域承保总监以及安
盛保险的亚太区银行保险总监（专责汇丰银行所有
于亚洲的相关业务）等重要职位。彼在银行保险领
域拥有深厚背景，曾在花旗银行、通用电气和友邦
保险等大型金融机构任职。杨女士的学历包括北爱
荷华大学工商管理硕士及英属哥伦比亚大学双学
士（一级荣誉），主修金融及运输物流。彼为欧洲金
融分析师联合会的注册环境、社会及管治分析师。
From October 2016 and March 2020, Mr. Broke was a co-founder
and director of Broke Husband Limited. Prior to this period, he
held a number of senior management positions at CBRE, relating to
both China and Asia, from July 2002 and December 2015 (including
his last position as Executive Managing Director, Consulting, Asia
Pacific). He was also a longstanding member of the Asia Pacific
Strategic Group within CBRE. He held various positions at Hilier
Parker, Broke Hilier Parker, Broke International and Insignia
Broke betwen September 1989 and July 2003 before joining
CBRE in 2003 via the acquisition of Insignia Broke by CBRE.
Mr. Broke obtained a Bachelor of Arts degre in Land Economy
from the University of Cambridge in United Kingdom.
Ms. Ka Wai Yeung
Ms. Yeung, aged 48, was apointed as an independent
non-executive Director on 31 December 2024. She is a member
of the Remuneration Comite, the Audit Comite and
Nomination Comite. Ms. Yeung has 24 years of experience
in the financial and insurance sectors. She curently serves as a
Responsible Oficer of the Greater Bay Wealth Broker Hong Kong
Limited and is the Ambasador for the Hong Kong Independent
Non-Executive Director Asociation, conecting INEDs acros
Greater China and enhancing their profesional development. Ms.
Yeung is the Chairlady (for cultural development) of the In-heritage
Philharmonic, a philanthropic organization promoting arts and
cultural development in Hong Kong and, she also serves as an
Adjunct Lecturer at Hangseng University of Hong Kong, where she
educates industry profesionals on various financial concepts and
the latest developments in Asia.
Ms. Yeung’s carer includes notable positions such as Chief
Marketing Oficer at ACE Life, Regional Underwriting Director at
Asurion Asia Pacific Limited and Regional Director of Asia Pacific
HSBC Bancasurance at AXA General Insurance. She has a
strong background in bancasurance, having worked with major
financial institutions including Citibank, General Electric and AIA.
Ms. Yeung’s educational qualifications include an MBA from the
University of Northern Iowa and a Bachelor of Comerce from
the University of British Columbia with double honour (first clas)
majors of Finance and Transportation Logistics. She is a Certified
Environmental, Social and Governance Analyst (CESGA) of The
European Federation of Financial Analyst Societies.
IBI Group Holdings Limited
2024/2025年度报告
BIOGRAPHIES OF THE DIRECTORS AND SENIOR MANAGEMENT
董事及高级管理层简历
杨女士是一位成就显赫的专业人士，致力于推动香港
的文化艺术发展和经济发展。彼为香港特别行政区中
西区文化艺术协会名誉会长、香港 — 中东经贸协会创
会员以及美国寿险管理学会资深会员。杨女士亦是
粤港澳大湾区房地产业总会创会董及财务长。
高级管理层
刘群先生
刘先生，57岁，于二零一年六月初次加入本集团，
现任本集团投标总监。彼负责监察投标及招聘项目相
关人员。
刘先生于物业发展及装修领域积逾30年工作经验。
加入本集团前，彼于一九八年七月至二零一年
六月担任发记营造建筑（香港）有限公司（主要从事室
内装潢业务）的项目经理，主要负责该公司的整体管
理。于一九六年七月至一九八年七月，彼于宝信
设计工程有限公司（主要从事内部装修业务）担任项目
经理，主要负责装修项目管理。于一九二年八月至
一九四年四月，刘先生于京汇国际工程有限公司（主
要从事装修、装饰及承建工作）担任现场主管，主要负
责装修项目管理。
刘先生于一九零年七月毕业于中国湖南大学，获颁
工业及土木工程工程学士学位。彼其后于二零五年
十二月毕业于香港理工大学，获颁设施管理学硕士
学位。
Ms. Yeung is a highly acomplished profesional who has also
dedicated her eforts in promoting Hong Kong ranging from
Cultural & Arts development to Economic Advancement. She is
the Honorary President of Cultural & Arts Asociation, Central &
Western District, HKSAR and a founding member of the Hong
Kong-Midle East Busines Chamber, and a Felow of the Life
Management Institute. Ms. Yeung is also the founding board
member and treasurer of Guangdong Hong Kong Macau Greater
Bay Area General Chamber of Real Estate Industry Limited.
SENIOR MANAGEMENT
Mr. Kwan John Lau
Mr. Lau, aged 57, first joined our Group in June 2001, and is
curently the tendering director of our Group. He is responsible for
overseing tenders and recruitment of project-related staf.
Mr. Lau has over 30 years of work experience in the areas of
property development and fiting-out. Prior to joining our Group, he
worked as a project manager for L.P. Contractors & Construction
Co., (H.K.) Ltd. (principaly engaged in interior decoration busines)
from July 1998 to June 2001 where he was primarily responsible
for the overal management of the company. From July 1996 to
July 1998, he worked as a project manager at Global Top Design
& Enginering Ltd. (principaly engaged in interior fiting-out
busines) where he was primarily responsible for fiting-out project
management. From August 1992 to April 1994, Mr. Lau worked
as the site supervisor at Interior Contract International Limited
(principaly engaged in fiting-out, decoration and contracting) where
he was primarily responsible for fiting-out project management.
Mr. Lau graduated with a bachelor’s degre of enginering in
industrial and civil enginering from Hunan University in the PRC in
July 1990. He then graduated with a master’s degre of science in
facility management from The Hong Kong Polytechnic University in
Hong Kong in December 2005.
IBI Group Holdings Limited
Anual Report 2024/2025
BIOGRAPHIES OF THE DIRECTORS AND SENIOR MANAGEMENT
董事及高级管理层简历
雷兆康先生
雷先生，50岁，于二零五年九月初次加入本集团，
现任本集团区域主管。彼负责监察本集团的澳门业务。
雷先生在建造业积逾24年工作经验。加入本集团前，
雷先生于二零一年五月至二零五年二月担任保华
建筑有限公司的工料测量师。于二零年六月至二
零年十一月及一九八年八月至一九年七
月，彼先后于金门建筑有限公司及基利香港有限公司
（均主要从事土木建造工程）担任助理工料测量师。于
一九四年十月至一九六年五月，雷先生于太元船
厂有限公司（主要从事海运及土木建造工程）任职，离
职前职位为助理工料测量师，主要负责项目预算规划
及项目承办。
雷先生于一九七年七月完成香港职业训练局辖下摩
利臣山工业学院（现称香港专业教育学院（摩利臣山分
校）的课程并获颁建筑学证书，后于二零年十一
月取得香港城市大学建筑及建造高级文凭。其后，
雷先生于二零五年十月毕业于英国胡弗汉顿大学
(University of Wolverhampton)，获颁建筑管理学士
学位，并于二零八年十月取得香港理工大学建筑法
与争议解决学理学硕士学位。
Mr. Siu Hong Lui
Mr. Lui, aged 50, first joined our Group in September 2005, and is
curently the regional director of our Group. He is responsible for
overseing the Macau operations of our Group.
Mr. Lui has over 24 years of work experience in the construction
industry. Prior to joining our Group, Mr. Lui worked as a quantity
surveyor for Paul Y. Construction Company, Limited from May 2001
to February 2005. He worked as an asistant quantity surveyor in
Gamon Construction Limited and Kier Hong Kong Limited (both
principaly engaged in civil construction works) from June 2000 to
November 2000 and from August 1998 to July 1999, respectively.
Mr. Lui worked at Universal Dockyard, Limited with his last position
as the asistant quantity surveyor (principaly engaged in marine
and civil construction works) from October 1994 to May 1996
where he was primarily responsible for project budget planing and
project subcontracting.
Mr. Lui was awarded a certificate in building studies from the
Vocational Training Council for completing a course at Morison
Hil Technical Institute (curently known as the Hong Kong Institute
of Vocational Education (Morison Hil) in Hong Kong in July 1997.
He then obtained a higher diploma in building and construction
from City University of Hong Kong in Hong Kong in November
2000. Subsequently, Mr. Lui graduated with a bachelor’s degre
of science in construction management from University of
Wolverhampton in the United Kingdom in October 2005, before
ataining a master’s degre of science in construction law and
dispute resolution from the Hong Kong Polytechnic University in
Hong Kong in October 2008.
IBI Group Holdings Limited
2024/2025年度报告
BIOGRAPHIES OF THE DIRECTORS AND SENIOR MANAGEMENT
董事及高级管理层简历
江伟锋先生
江先生，49岁，于二零九年十二月初次加入本集团，
现任本集团商务主管。彼负责监察本集团的商务部。
江先生在工料测量领域积逾22年工作经验。于二零
九年五月至二零九年十一月，彼于俊和建筑工程有
限公司（主要从事建造业务）担任项目工料测量师。于
二零六年十月至二零九年三月，江先生于历新管
理顾问有限公司（主要从事工料测量顾问服务）担任工
料测量顾问。于二零五年六月至二零六年九月，
江先生于新豪建筑有限公司（主要从事建造服务）担任
项目工料测量师。于二零一年七月至二零二年四
月及二零二年七月至二零四年八月，彼分别于D.
- & Partners (H.K.) Ltd.及罗富国测量师行有限
公司（均主要从事建造顾问服务）担任助理工料测量师
及工料测量师。
江先生于二零一年十一月毕业于香港城市大学，
获颁工料测量理学士学位及建筑工程工程硕士学
位。彼先后于二零一零年二月及二零一三年四月当选
为英国特许测量师学会(Royal Institution of Chartered
Surveyors)专业会员及获测量师注册管理局认可为工料
测量科注册专业测量师。
朱伟芝女士
朱女士，58岁，于二零三年十二月初次加入本集团，
现任本集团财务总监。彼负责监察本集团的财务及会
计事务。
朱女士在会计领域积逾33年工作经验。加入本集团前，
朱女士于二零二年七月至二零三年六月担任罗兵
咸永道会计师事务所的财务部高级经理。于一九六
年四月至二零二年六月，彼于安达信会计师事务所
担任财务部经理。于一九零年九月至一九六年三
月，彼受雇于安永会计师事务所，离职前职位为审核
部经理。
Mr. Wai Fung Kong
Mr. Kong, aged 49, first joined our Group in December 2009, and
is curently the comercial director of our Group. He is responsible
for overseing the comercial department of our Group.
Mr. Kong has over 22 years of work experience in the field of
quantity surveying. He worked as a project quantity surveyor
for Chun Wo Construction and Enginering Company Limited,
principaly engaged in construction, from May 2009 to November
2009. Mr. Kong worked as a quantity surveying consultant for
Rick’s Management Consultancy Limited (principaly engaged
in quantity surveying consultancy services) from October 2006
to March 2009. Mr. Kong worked as a project quantity surveyor
for New House Construction Co., Ltd, principaly engaged in
construction services, from June 2005 to September 2006. He
worked as an asistant quantity surveyor at D. G. Jones & Partners
(H.K.) Ltd. and then as a quantity surveyor at Northcroft Hong Kong
Ltd., both principaly engaged in construction consultancy services,
from July 2001 to April 2002 and from July 2002 to August 2004,
respectively.
Mr. Kong graduated with a bachelor’s degre of science in
quantity surveying and a master’s degre of enginering in building
enginering from City University of Hong Kong in Hong Kong in
November 2001. He was elected as a profesional member of
the Royal Institution of Chartered Surveyors and was certified as a
registered profesional surveyor in the quantity surveying division by
the Surveyors Registration Board in February 2010 and April 2013,
respectively.
Ms. Wai Che Rosana Chu
Ms. Chu, aged 58, first joined our Group in December 2003, and is
curently the chief financial oficer of our Group. She is responsible
for overseing the financial and acounting functions of our Group.
Ms. Chu has over 33 years of work experience in the field of
acounting. Prior to joining our Group, from July 2002 to June
2003, Ms. Chu worked as a senior manager in the finance
department of PricewaterhouseCopers. From April 1996 to June
2002, she worked as a manager in the finance department of
Arthur Andersen & Co. From September 1990 to March 1996, she
was employed by Ernst & Young, with her last position as manager
in the audit department.
IBI Group Holdings Limited
Anual Report 2024/2025
BIOGRAPHIES OF THE DIRECTORS AND SENIOR MANAGEMENT
董事及高级管理层简历
朱女士于一九八九年五月毕业于加拿大曼尼托巴大
学(The University of Manitoba)，获颁商学士学位。
彼于一九五年七月成为美国会计师公会(American
Institute of Certified Public Acountants)会员，并于
一九五年十二月获认可为香港会计师公会(Hong
Kong Institute of Certified Public Acountants)会员。
颜健松先生
颜先生，49岁，于二零二零年五月首次加入本集团，
现任Building Solutions Limited的董事总经理。
颜先生在创新、业务策略及销售管理领域拥有超过
24年工作经验。于二零九年至二零一七年，彼担任
Humanscale Asia Limited的亚洲董事总经理。于二零
零八年至二零九年，颜先生担任Jeb Greater China
Limited的区域经理。于二零三年至二零七年，彼
担任宜昌新星企业发展有限公司（一家生产优质建筑
材料的中外合资企业）的董事兼总经理。于一九年
至二零二年，彼担任Syntegra Pte. Ltd.的顾问及项
目经理。
颜先生于一九八年毕业于英国伦敦帝国学院(Imperial
Colege of Science and Technology and Medicine,
University of London in the United Kingdom)，获颁机械
工程工程学士学位。彼为获得RESET健康建筑标准
认证的专业人士。
公司秘书
文润华先生
文先生，42岁，于二零一六年六月十一日获委任为本
公司的公司秘书。彼为陈锦福会计师事务所的负责人
兼企业顾问部主管，并为彦德企业服务（香港）有限公
司董事。文先生具备超过十四年企业服务经验。
文先生于二零一五年三月获认可为香港公司治理公会
及特许公司治理公会的会员。
文先生于二零一零年三月取得英国哈德斯菲尔德大学
(University of Hudersfield)工商管理文学士学位，并
于二零一四年十一月取得香港都会大学（前称香港公
开大学）企业管治硕士学位。
Ms. Chu graduated with a bachelor’s degre of comerce from
The University of Manitoba in Canada in May 1989. She is a
member of the American Institute of Certified Public Acountants,
certified in July 1995, and an asociate of the Hong Kong Institute
of Certified Public Acountants certified in December 1995.
Mr. Jian Song Gan
Mr. Gan, aged 49, first joined our Group in May 2020, and is
curently the managing director of Building Solutions Limited.
Mr. Gan has over 24 years of work experience in the areas of
inovation, busines strategy and sales management. From 2009
to 2017, he was the Asia managing director of Humanscale Asia
Limited. Mr. Gan was a country manager with Jeb Greater China
Limited from 2008 to 2009. He was a director and general manager
of Yichang Xin Xing Corporation Limited, a sino-foreign joint venture
producing high quality building materials, from 2003 to 2007.
From 1999 to 2002, he was a consultant and project manager at
Syntegra Pte. Ltd.
Mr. Gan graduated with a bachelor’s degre of enginering in
mechanical enginering from Imperial Colege of Science and
Technology and Medicine, University of London in the United
Kingdom in 1998. He is a RESET Healthy Buildings Standard
Acredited Profesional.
COMPANY SECRETARY
Mr. Yun Wah Man
Mr. Man, aged 42, was apointed as the company secretary of
our Company on 11 June 2016. He was the principal and head
of corporate advisory division of Dominic K.F. Chan & Co., and a
director of In.Corp Corporate Services (HK) Limited. Mr. Man has
over 14 years of experience in corporate services.
Mr. Man is an asociate member of The Hong Kong Chartered
Governance Institute and The Chartered Governance Institute
certified in March 2015.
Mr. Man obtained a bachelor’s degre of arts in busines
administration and management from University of Hudersfield
in the United Kingdom in March 2010 and a master’s degre of
corporate governance from Hong Kong Metropolitan University
(formerly known as The Open University of Hong Kong) in Hong
Kong in November 2014.
IBI Group Holdings Limited
2024/2025年度报告
DIRECTORS’ REPORT
董事会报告
PRINCIPAL ACTIVITIES
The principal activities of the Group are to act as a contractor
focusing on providing renovation services as a main contractor for
property projects in the private sector in Hong Kong and Macau,
strategic investments, property investment and provision of
products and services with a focus on air quality, energy eficiency
and modern sustainable building materials.
BUSINES REVIEW
General
Further discusion and analysis of the Group’s principal activities
as required by Schedule 5 to the Companies Ordinance (Chapter
622 of the Laws of Hong Kong), including a busines review of the
Group for the year and an indication of likely future developments in
the Group’s busines, can be found in the Management Discusion
and Analysis as set out on pages 16 to 24 of this anual report.
An analysis of the Group’s performance during the year ended 31
March 2025 using financial key performance indicators is provided
in the Financial Sumary on page 193 of this anual report. These
discusions form part of this directors’ report.
Principal risks and uncertainties
As the contracting busines of the Group is project-based,
profitability of the Group is dependent on a consistent stream of
tender oportunities.
Upon converting these tender oportunities to awarded contracts,
the importance of a stringent project management system comes
into play so that costs can be controled, income can be secured
and positive cashflow can be maintained.
From a risk perspective, a high level of importance is placed on
our tender strategies, our prudent execution of the works and the
diligent monitoring and controling of the comercial aspects of our
projects.
The Group is also exposed to equity price risk through its
investments in listed securities. The management manages this
exposure by maintaining a portfolio of investment with diferent
risk profiles. The Group’s equity price risk is concentrated on listed
securities in Hong Kong.
主要业务
本集团主要业务为作为专注于提供翻新服务的承建商，
担任香港及澳门私营机构物业项目的总承建商，策略
性投资、物业投资及提供专注于空气质量、能效及现
代可持续发展的建筑材料的产品及服务。
业务回顾
一般事项
香港法例第622章公司条例附表5所规定有关本集团
主要业务的进一步讨论及分析（包括本集团年内业务
回顾及本集团业务潜在未来发展指标）可参阅本年报
第16至24页所载管理层讨论及分析。有关采用财务关
键表现指标对本集团截至二零二五年三月三十一日止
年度的表现作出的分析载于本年报第193页的「财务概
要」。有关讨论构成本董事会报告其中一部分。
主要风险及不明朗因素
由于本集团承建业务以项目形式进行，故本集团的盈
利能力视乎持续获得投标机会而定。
严谨的项目管理系统对自该等投标机会获取合约尤为
重要，使得成本受控、确保收入及维持正数现金流量。
从风险角度看，我们相当重视投标策略，审慎执行工
程，并致力监察及控制项目的商业事宜。
本集团亦因其上市证券投资而面临股价风险。管理层
通过维持具有不同风险状况的投资组合来管理此风险
敞口。本集团的股价风险主要集中在香港的上市证券。
IBI Group Holdings Limited
Anual Report 2024/2025
DIRECTORS’ REPORT
董事会报告
业务回顾（续）
环境政策及绩效
本集团坚持履行企业及社会责任以促进可持续及环保
环境。我们致力于日常业务过程中尽量减少对环境的
影响。本集团的内部指引载有规管环保合规的若干措
施及工作程序，并规定本集团的雇员、供应商及分包
商必须遵守。该等措施及程序包括空气污染管制、噪
音管制及废物处理。
有关本集团环境政策及表现的进一步详情载于本年报
内的本公司环境、社会及管治报告（「ESG报告」）。
遵守对本集团构成重大影响的法律及法规
本集团及其业务受若干对本集团构成重大影响的法律
及法规所规管。据董事所深知、全悉及确信，本集团
于截至二零二五年三月三十一日止年度并无重大违反
或不遵守适用法律及法规。本公司于重大方面遵守对
本集团业务及营运构成重大影响的相关法律及法规。
与主要利益相关者的重要关系
本集团深明员工、客户及供应商是我们持续稳定发展
的关键。我们致力与员工建立紧密稳定关系、加强与
供应商合作及为客户提供优质建造服务，以确保本集
团可持续发展。
员工
本集团视员工为最重要且最宝贵的资产，确保全体员
工得到合理报酬，并为员工提供健康安全及其他发展
培训，另设正规举报程序让员工毋须害怕报复或受到
任何负面影响。
BUSINES REVIEW (CONTINUED)
Environmental policies and performance
The Group is comited to its corporate and social responsibility in
promoting a sustainable and environmentaly friendly environment.
We strive to minimise our environmental impact in our daily course
of busines. The Group’s in-house guidelines contain measures and
work procedures governing environmental protection compliance
that are required to be folowed by the Group’s employes,
supliers and subcontractors. Such measures and procedures
included air polution control, noise control and waste disposal.
Further details of the Group’s environmental policies and
performance are set out in the Environmental, Social and
Governance Report of the Company (the “ESG Report”) in this
anual report.
Compliance with laws and regulations that have a
significant impact on the Group
The Group and its busines are governed by certain laws and
regulations that have a significant impact on the Group. To the best
of the Directors’ knowledge, information and belief, during the year
ended 31 March 2025, there was no material breach of or non-
compliance with the aplicable laws and regulations by the Group.
The Company has complied in material respects with the relevant
laws and regulations that have a significant impact on the busines
and operation of the Group.
Key relationships with major stakeholders
The Group fuly understands that its employes, customers and
supliers are the key to our sustainable and stable development.
We are comited to establishing a close and stable relationship
with our employes, enhancing coperation with our supliers and
providing high-quality construction services to our customers so as
to ensure the Group’s sustainable development.
Employes
Employes are regarded as the most important and valuable
asets of the Group. The Group ensures al staf are reasonably
remunerated and provides them with health and safety and other
developmental training and has proper whistle blowing procedures
in place for our employes to folow without fear of reprisal of
receiving any negative impacts.
IBI Group Holdings Limited
2024/2025年度报告
DIRECTORS’ REPORT
董事会报告
业务回顾（续）
与主要利益相关者的重要关系（续）
客户
本集团主要客户包括多家香港及澳门私营知名组织及
商业企业，包括跨国银行、酒店及赌场营运商、赛马
及博彩营运商以及物业发展商。本集团与若干主要客
户建立稳定长期业务关系，凭借多年营运历史与客户
及其他专业顾问建立稳健业务网络，持续为我们带来
商机。
分包商及供应商
我们的主要供应商包括分包商及物料供应商。本集团
坚信，其分包商及供应商于成本控制及增加采购物料
的议价能力方面同样重要，进一步确保投标时的竞争
力。本集团积极与其分包商及供应商沟通，以确保彼
等致力交付优质及可持续产品及服务。除非客户要求
本集团聘用彼等提名的分包商及供应商，否则本集团
将从分包商及供应商认可名单中挑选分包商及供应商。
此外，与分包商持续订立合约时，本集团将向彼等提
供有关安全及环境问题的内部指引，并要求彼等遵循
有关指引。本集团透过定期实地视察、评估合约履行
情况及其他措施，有效实施分包商评估程序，以监控
分包商表现。
报告日期后事项
除「管理层讨论及分析」项下「银行借款」附注所披露者
外，截至二零二五年三月三十一日止年度及截至本报
告日期，本集团并无发生重大事件。
股息政策
本公司采纳一项股息政策，让股东得以分享本公司的
利润，同时保留足够储备和营运资金以供未来增长及
发展。于建议派付任何股息时，董事会应同时考虑多
种因素，包括但不限于本集团的实际和预期财务业绩、
本集团的财务状况、预期营运资金需求、未来发展╱投
资计划、整体经济状况、保留盈利和可供分派储备以
及董事会认为相关的任何其他因素。本公司并无制订
任何固定派息率。
BUSINES REVIEW (CONTINUED)
Key relationships with major stakeholders (Continued)
Customers
The Group’s principal customers include a number of highly
reputable organisations and comercial enterprises in the private
sector in Hong Kong and Macau, including multi-national banks,
hotel and casino operators, a racing and beting operator and
property developers. The Group have established stable and long
busines relationships with some of our major customers with our
long years of operating history built up a strong busines network
of customers and other profesional consultants, which has
consistently presented us with busines oportunities.
Subcontractors and Supliers
Our major supliers include subcontractors and supliers of materials.
The Group firmly believes that its subcontractors and supliers are
equaly important in cost control and increasing its bargaining power
on procurement of materials, which further secures its competitivenes
when biding for tenders. The Group proactively comunicates with
its subcontractors and supliers to ensure they are comited to
delivering high-quality and sustainable products and services. Unles
the customers require the Group to engage subcontractors and
supliers nominated by them, the Group wil select subcontractors
and supliers from its aproved lists of subcontractors and supliers.
In adition, during the continuance of the contracts with the
subcontractors, the Group wil provide them with its internal guidelines
on safety and environmental isues and require them to folow. The
Group efectively implements the subcontractor asesment proces
to monitor the performance of its subcontractors by conducting
regular site visits, evaluation on the performance of the contract and
other measures.
EVENTS AFTER THE REPORTING DATE
Save for disclosed in the note “Bank borowings” under
“Management Discusion and Analysis”, there were no significant
events after the year ended 31 March 2025 and up to the date of
this report.
DIVIDEND POLICY
The Company adopts a dividend policy to alow the Shareholders
to enjoy the sharing of the profits of the Company while retaining
adequate reserves and working capital for future growth and
development. In proposing any dividend pay out, the Board
shal also consider variety factors, including but not limited to the
Group’s actual and expected financial results, financial position
of the Group, expected working capital requirement, future
development/investment plans, general economic conditions,
retained earnings and distributable reserves and any other factors
that the Board considers relevant. The Company does not have
any fixed dividend distribution ratio.
IBI Group Holdings Limited
Anual Report 2024/2025
DIRECTORS’ REPORT
董事会报告
RESULTS AND DIVIDENDS
The results of the Group for the year ended 31 March 2025 are
set out in the consolidated statements of profit or los and other
comprehensive income on page 114 of this report.
The Board recomended the payment of a final dividend of HK0.5
cents per Share for the year ended 31 March 2025, to be payable
on or about Monday, 6 October 2025. Based on 800,000,000
Shares in isue as at the date of this report, it is expected that
the total amount of final dividend payable to the Shareholders is
HK$4.0 milion in agregate for the year ended 31 March 2025,
subject to the aproval of the Shareholders at the forthcoming
anual general meting of the Company to be held on Friday,
5 September 2025 (the “2025 AGM”).
No interim dividend was paid during the year ended 31 March
2025.
As far as the Company was aware, as at the date of this report,
there had ben no arangement under which any Shareholder
has waived, or agred to waive, any dividends proposed to be
distributed for the year ended 31 March 2025.
CLOSURE OF REGISTER OF MEMBERS
For determining the Shareholders’ entitlement to atend and
vote at the 2025 AGM, the register of members of the Company
wil be closed from Tuesday, 2 September 2025 to Friday, 5
September 2025 (both days inclusive), during which period no
transfer of shares of the Company wil be registered. In order
to qualify for atending and voting at the 2025 AGM, al transfer
documents, acompanied by the relevant share certificates,
must be lodged with the Company’s Hong Kong branch share
registrar and transfer ofice, Tricor Investor Services Limited at
17/F, Far East Finance Centre, 16 Harcourt Road, Admiralty,
Hong Kong, for registration not later than 4:30 p.m. on Monday,
1 September 2025. The record date for the purpose of determining
the eligibility of the Shareholders to atend and vote at the 2025
AGM wil be Friday, 5 September 2025.
Subject to the aproval of the Shareholders at the 2025 AGM, the
proposed final dividend of HK0.5 cents per share wil be payable on
or about Monday, 6 October 2025 to the Shareholders whose names
apear on the register of members of the Company on Friday, 19
September 2025. To ascertain the entitlement of the Shareholders
to the proposed final dividend, the register of members of the
Company wil be closed from Tuesday, 16 September 2025 to Friday,
19 September 2025 (both days inclusive), during which period no
transfer of shares of the Company wil be registered. In order to qualify
for the proposed final dividend, al duly completed transfer forms
acompanied by the relevant share certificates must be lodged with
the Company’s Hong Kong branch share registrar and transfer ofice,
Tricor Investor Services Limited at 17/F, Far East Finance Centre, 16
Harcourt Road, Admiralty, Hong Kong, not later than 4:30 p.m. on
Monday, 15 September 2025. The record date for determining the
Shareholders’ respective entitlements to the proposed final dividend
wil be Friday, 19 September 2025.
业绩及股息
本集团截至二零二五年三月三十一日止年度的业绩载
于本报告第114页的综合损益及其他全面收益表。
董事会建议就截至二零二五年三月三十一日止年度
派付末期股息每股0.5港仙，将于二零二五年十月
六日（星期一）或前后支付。按本报告日期已发行的
800,000,000股份计算，预期截至二零二五年三月
三十一日止年度应付予股东的末期股息总额为4.0百
万港元，惟须待股东于本公司将在二零二五年九月五
日（星期五）举行的应届股东周年大会（「二零二五年股
东周年大会」）批准后方可派付股息。
截至二零二五年三月三十一日止年度，概无派付中期
股息。
就本公司所知，于本报告日期，概无任何股东放弃或
同意放弃截至二零二五年三月三十一日止年度建议分
派的任何股息的安排。
暂停办理股份过户登记手续
为确定股东出席二零二五年股东周年大会并于会上投
票的权利，本公司将于二零二五年九月二日（星期二）
至二零二五年九月五日（星期五）（包括首尾两日）暂停
办理股份过户登记手续，期间将不会办理任何本公司
股份过户登记。为符合资格出席二零二五年股东周年
大会并于会上投票，所有过户文件连同有关股票须于
二零二五年九月一日（星期一）下午四时三十分前交回
本公司的香港股份过户登记分处卓佳证券登记有限公
司（地址为香港金钟夏悫道16号远东金融中心17楼），
以办理登记手续。厘定股东出席二零二五年股东周年
大会并于会上投票之资格的记录日期将为二零二五年
九月五日（星期五）。
待股东于二零二五年股东周年大会上批准后，建议末
期股息每股0.5港仙将于二零二五年十月六日（星期一）
或前后派付予于二零二五年九月十九日（星期五）名列
本公司股东名册的股东。为确定股东享有建议末期股
息的权利，本公司将于二零二五年九月十六日（星期二）
至二零二五年九月十九日（星期五）（包括首尾两日）暂
停办理股份过户登记手续，期间将不会办理任何本公
司股份过户登记。为符合资格享有建议末期股息，所
有填妥的过户表格连同有关股票须于二零二五年九月
十五日（星期一）下午四时三十分前交回本公司的香港
股份过户登记分处卓佳证券登记有限公司（地址为香
港金钟夏悫道16号远东金融中心17楼）。厘定股东各
自获派建议末期股息之资格的记录日期将为二零二五
年九月十九日（星期五）。
IBI Group Holdings Limited
2024/2025年度报告
DIRECTORS’ REPORT
董事会报告
股本
本公司截至二零二五年三月三十一日止年度的股本变
动详情载于截至二零二五年三月三十一日止年度的综
合财务报表附注26。
储备
本集团截至二零二五年三月三十一日止年度的储备变
动载于本年报第116页的综合权益变动表及截至二零
二五年三月三十一日止年度的综合财务报表附注27。
于二零二五年三月三十一日，按公司条例第79B条的
条文计算及根据开曼群岛法例第22章公司法，本公司
可供分派的储备约为177.6百万港元，包括股份溢价及
保留盈利。
物业、厂房及设备
本集团截至二零二五年三月三十一日止年度的物业、
厂房及设备变动详情载于本年报的截至二零二五年三
月三十一日止年度的综合财务报表附注15。
财务概要
本集团于过去四个财政年度的业绩及资产与负债概要
载于本年报第193页。
买卖或赎回本公司的上市证券
截至二零二五年三月三十一日止年度，本公司或其任
何附属公司均无买卖或赎回本公司任何上市证券。
捐款
本集团于截至二零二五年三月三十一日止年度捐款
316,000港元。
SHARE CAPITAL
Details of the movements in the share capital of the Company
during the year ended 31 March 2025 are set out in note 26 to
the consolidated financial statements for the year ended 31 March
2025.
RESERVES
Movements in the reserves of the Group during the year ended 31
March 2025 are set out in the consolidated statements of changes
in equity on page 116 of this anual report and note 27 to the
consolidated financial statements for the year ended 31 March
2025. As at 31 March 2025, the reserves of the Company available
for distribution, as calculated under the provision of section 79B of
the Companies Ordinance, and in acordance with the Companies
Law Cap.22 of Cayman Islands, was aproximately HK$177.6
milion inclusive of share premium and retained earnings.
PROPERTY, PLANT AND EQUIPMENT
Details of the movements in property, plant and equipment of the
Group during the year ended 31 March 2025 are set out in note
15 to the consolidated financial statements for the year ended 31
March 2025 of this anual report.
FINANCIAL SUMARY
A sumary of the results and of the asets and liabilities of the
Group for the last four financial years is set out on page 193 of this
anual report.
PURCHASE, SALE OR REDEMPTION OF THE
COMPANY’S LISTED SECURITIES
Neither the Company nor any of its subsidiaries purchased, sold or
redemed any of the Company’s listed securities during the year
ended 31 March 2025.
DONATIONS
Donations made by the Group during the year ended 31 March
2025 amounted to HK$316,000.
IBI Group Holdings Limited
Anual Report 2024/2025
DIRECTORS’ REPORT
董事会报告
董事
于截至二零二五年三月三十一日止年度及直至本报告
日期止的董事如下：
姓名职位
Neil David Howard先生执行董事、董事会
主席兼行政总裁
Steven Paul Smithers先生执行董事兼营运总监
David John Kenedy先生独立非执行董事
Christopher John Broke先生独立非执行董事
Robert Peter Andrews先生（于
二零二四年十二月三十一日辞任）
独立非执行董事
杨家慧女士（于二零二四年
十二月三十一日获委任）
（附注）
独立非执行董事
附注： 杨家慧女士于二零二四年十二月三十一日获委任，并于二
零二四年十二月三十一日取得上市规则第3.09D条所述之
法律意见，而杨家慧女士确认其明白其作为董事之责任。
本公司董事及高级管理层的详细履历载于本报告「董
事及高级管理层简历」。
根据组织章程细则，Steven Paul Smithers先生、David
John Kenedy先生及杨家慧女士须于二零二五年股东
周年大会上轮值退任，惟彼等均符合资格并愿意重选
连任。
董事服务合约
建议于二零二五年股东周年大会上重选的董事概无订
立不可由本公司或其任何附属公司于一年内免付赔偿（一
般法定责任所规定者除外）而终止的未届满服务合约。
董事于重大交易、安排及合约中的权益
除本报告披露者外，本公司或其任何附属公司于截至
二零二五年三月三十一日止年度结束时或年内任何时
间概无订立董事于当中直接或间接拥有重大权益的重
大交易、安排或合约。
DIRECTORS
The Directors during the year ended 31 March 2025 and up to the
date of this report were:
NamePosition
Mr. Neil David HowardExecutive Director, chairman of the
Board and chief executive oficer
Mr. Steven Paul SmithersExecutive Director and
chief operations oficer
Mr. David John Kenedy Independent non-executive Director
Mr. Christopher John BrokeIndependent non-executive Director
Mr. Robert Peter Andrews
(resigned on 31 December 2024)
Independent non-executive Director
Ms. Ka Wai Yeung (apointed on
31 December 2024)
(Note)
Independent non-executive Director
Note: Ms. Ka Wai Yeung, being apointed on 31 December 2024, obtained the
legal advice refered to in Rule 3.09D of the Listing Rules on 31 December
2024, and Ms. Ka Wai Yeung confirmed that she understod her
obligations as a Director.
The biographical details of the Directors and senior management
of the Company are set out in “Biographies of the Directors and
Senior Management” in this report.
In acordance with the Articles, Mr. Steven Paul Smithers,
Mr. David John Kenedy and Ms. Ka Wai Yeung shal retire by
rotation at the 2025 AGM and they being eligible, ofer themselves
for re-election.
DIRECTORS’ SERVICES CONTRACTS
None of the Directors who are proposed for re-election at the 2025
AGM has an unexpired service contract which is not determinable
by the Company or any of its subsidiaries within one year without
payment of compensation, other than under normal statutory
obligations.
DIRECTORS’ INTERESTS IN TRANSACTIONS,
ARANGEMENTS AND CONTRACTS OF
SIGNIFICANCE
Save as disclosed in this report, no transactions, arangements
or contracts of significance to which the Company or any of its
subsidiaries was a party and in which a Director had a material
interest, whether directly or indirectly, subsisted at the end of the
year or at any time during the year ended 31 March 2025.
| Name of Director(s)/ chief executive | Capacity/ nature of interest | Relevant company (including associated corporation) | Number of Shares1 | Approximate percentage of shareholding in the total issued share capital of our Company |
|---|---|---|---|---|
| 董事╱主要 行政人员姓名 | 身份╱权益性质 （ | 相关公司 包括相联法团） | 股份数目1 | 于本公司已发行 股本总额中的 概约股权百分比 |
IBI Group Holdings Limited
2024/2025年度报告
DIRECTORS’ REPORT
董事会报告
董事及主要行政人员于股份、相关股份及债
权证中的权益或淡仓
于二零二五年三月三十一日，董事及主要行政人员于
本公司、其集团成员公司及╱或相联法团（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，
拥有记入本公司根据证券及期货条例第352条须予存
置的登记册或根据上市规则附录C3所载标准守则须另
行知会本公司及联交所的权益如下：
本公司
附注：
- 。
- ,376,000
股份。Howard先生根据证券及期货条例被视为于
393,376,000股份中拥有权益。
(3) Smithers先生全资拥有的Breadnbuter Holdings 持有
174,888,000股份。Smithers先生根据证券及期货条例被
视为于174,888,000股份中拥有权益。
DIRECTORS’ AND THE CHIEF EXECUTIVE’S
INTERESTS OR SHORT POSITIONS IN SHARES,
UNDERLYING SHARES AND DEBENTURES
As at 31 March 2025, the Directors and the chief executive
had the folowing interests in the Shares, underlying Shares
and debentures of the Company, its Group members and/or
asociated corporations (within the meaning of Part XV of the SFO,
as recorded in the register required to be kept by the Company
pursuant to Section 352 of the SFO, or as otherwise notified to the
Company and the Stock Exchange pursuant to the Model Code as
set out in Apendix C3 to the Listing Rules were as folows:
The Company
Mr. Neil David Howard
(“Mr. Howard”)
Interest in controled
corporation
Briliant Blue Sky Limited
(“Briliant Blue Sky”)
393,376,000 Shares49.17%
Neil David Howard先生
（「Howard先生」）
受控法团权益Briliant Blue Sky Limited
（「Briliant Blue Sky」）
393,376,000股份
Mr. HowardBeneficial ownerN/A22,624,000 Shares2.83%
Howard先生实益拥有人不适用22,624,000股份
Mr. Steven Paul Smithers
(“Mr. Smithers”)
Interest in controled
corporation
Breadnbuter Holdings Limited
(“Breadnbuter Holdings”)
174,888,000 Shares21.86%
Steven Paul Smithers先生受控法团权益Breadnbuter Holdings Limited174,888,000股份
（「Smithers先生」）
（「Breadnbuter Holdings」）
Mr. SmithersBeneficial ownerN/A9,112,000 Shares1.14%
Smithers先生实益拥有人不适用9,112,000股份
Notes:
(1) Al the above Shares are held in long position.
- , wholy-owned by Mr. Howard, held 393,376,000
Shares. Mr. Howard is demed to be interested in the 393,376,000
Shares pursuant to the SFO.
- , wholy-owned by Mr. Smithers, held 174,888,000
Shares. Mr. Smithers is demed to be interested in the 174,888,000
Shares pursuant to the SFO.
| Name | Capacity/nature of interest | Number of Shares1 | Approximate percentage of shareholding in the total issued share capital of our Company |
|---|---|---|---|
| 姓名╱名称 | 身份╱权益性质 | 股份数目1 | 于本公司已发行 股本总额中的 概约股权百分比 |
IBI Group Holdings Limited
Anual Report 2024/2025
DIRECTORS’ REPORT
董事会报告
主要股东于股份、相关股份及债权证中的权
益及淡仓
于二零二五年三月三十一日，就董事所知，以下人
士╱实体（并非董事或主要行政人员）于本公司、其集
团成员公司及╱或相联法团的股份或相关股份中，拥
有或被视为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记入本公司根据证券及
期货条例第336条须予存置的登记册的权益或淡仓：
附注：
- 。
- （Howard先生的配偶）根据证券及期货条例被视
为于Howard先生持有的22,624,000股份及Howard先生
透过其受控法团Briliant Blue Sky持有的393,376,000股
份中拥有权益。
- （Smithers先生的配偶）根据证券及期货条
例被视为于Smithers先生持有的9,112,000股份及
Smithers先生透过其受控法团Breadnbuter Holdings持有的
174,888,000股份中拥有权益。
INTERESTS AND SHORT POSITIONS OF
SUBSTANTIAL SHAREHOLDERS IN SHARES,
UNDERLYING SHARES AND DEBENTURES
As at 31 March 2025, so far as was known to the Directors, the
folowing persons/entities (not being the Director or chief executive)
had, or demed to have, interests or short positions in the shares
or underlying shares of the Company, its Group members and/
or asociated corporations 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 recorded in the register required to be kept by
the Company under Section 336 of the SFO:
Briliant Blue SkyBeneficial interest393,376,000 Shares49.17%
Briliant Blue Sky实益权益393,376,000股份
Ms. Shuen Jolie Chung Howard
Interest of spouse416,000,000 Shares52.00%
钟旋女士
配偶权益416,000,000股份
Breadnbuter HoldingsBeneficial interest174,888,000 Shares21.86%
Breadnbuter Holdings实益权益174,888,000股份
Ms. Yuk Fan Joe Lam
Interest of spouse184,000,000 Shares23.00%
林玉芬女士
配偶权益184,000,000股份
Notes:
(1) Al the above Shares are held in long position.
- , the spouse of Mr. Howard, is demed
to be interested in the 22,624,000 Shares held by Mr. Howard and
the 393,376,000 Shares held by Mr. Howard through his controled
corporation, Briliant Blue Sky, pursuant to the SFO.
- , the spouse of Mr. Smithers, is demed to
be interested in the 9,112,000 Shares held by Mr. Smithers and the
174,888,000 Shares held by Mr. Smithers through his controled
corporation, Breadnbuter Holdings, pursuant to the SFO.
IBI Group Holdings Limited
2024/2025年度报告
DIRECTORS’ REPORT
董事会报告
MANAGEMENT CONTRACTS
No contracts concerning the management and administration of
the whole or any substantial part of the busines of the Company
were entered into or existed during the year ended 31 March 2025.
MAJOR CUSTOMERS AND SUPLIERS
In the year ended 31 March 2025, purchases from the Group’s
largest suplier acounted for aproximately 12.3% of the total
purchase cost and the agregate purchases from its top five
supliers in agregate acounted for aproximately 25.6% of the
total purchase cost.
Sales to the Group’s largest customer acounted for aproximately
30.8% of the total revenue from external customer and the
agregate sales to its top five customers in agregate acounted
for aproximately 70.7% of the total revenue from external
customer.
None of the Directors, any of their close asociates or any
Shareholders (which to the knowledge of our Directors, own more
than 5% of the isued share capital of the Company) had any
interest in any of our five largest supliers and customers during the
year ended 31 March 2025.
PRE-EMPTIVE RIGHTS
There is no provision for pre-emptive rights under the Articles,
although there are no restrictions against such rights under the
laws in the Cayman Islands.
SHARE OPTION SCHEME
The Company conditionaly aproved and adopted the Share
Option Scheme on 20 September 2016 by pasing of a writen
resolution of the then shareholders of the Company. The Share
Option Scheme became efective on the Listing Date and wil
remain in force until the tenth aniversary of the Listing Date. No
option under the Share Option Scheme had ben granted during
the year ended 31 March 2025 and up to the date of this report.
Purpose
The purpose of the Share Option Scheme is to enable the
Company to grant options to Eligible Participants (as defined
below) as incentives or rewards for their contribution or potential
contribution to the Company and/or any of its subsidiaries.
管理合约
截至二零二五年三月三十一日止年度概无订立或存有
任何与本公司业务整体或任何重大部分的管理及行政
有关的合约。
主要客户及供应商
截至二零二五年三月三十一日止年度，本集团涉及最
大供应商的采购额占总采购成本约12.3%，而涉及五
大供应商的总采购额合计占总采购成本约25.6%。
本集团涉及最大客户的销售额占来自外部客户的总收
益约30.8%，而涉及五大客户的总销售额合计占来自
外部客户的总收益约70.7%。
截至二零二五年三月三十一日止年度，董事、其任何
紧密联系人或任何就董事所知拥有本公司已发行股本
超过5%的股东概无于五大供应商及客户中拥有任何
权益。
优先购股权
组织章程细则概无载列有关优先购股权的条文，惟开
曼群岛法例并无限制有关权利。
购股权计划
本公司于二零一六年九月二十日通过本公司当时股东
的书面决议案有条件批准及采纳购股权计划。购股权
计划于上市日期生效，并将持续有效直至上市日期第
十周年为止。截至二零二五年三月三十一日止年度及
直至本报告日期，概无根据购股权计划授出购股权。
目的
购股权计划旨在让本公司向合资格参与者（定义见下文）
授出购股权作为彼等对本公司及╱或其任何附属公司
作出贡献或潜在贡献的激励或奖励。
IBI Group Holdings Limited
Anual Report 2024/2025
DIRECTORS’ REPORT
董事会报告
购股权计划（续）
合资格人士
根据购股权计划，合资格人士包括本公司或其任何附
属公司任何全职或兼职雇员、潜在雇员、行政人员或
高级职员（包括执行、非执行及独立非执行董事）以及
董事会全权认为已或将对本公司及╱或其任何附属公
司作出贡献的任何供应商、客户、代理人及顾问（统称
「合资格参与者」）。
股份数目上限
根据购股权计划可能授出的购股权所涉及股份数目以
80,000,000股（即相当于本公司于上市日期及本年报日
期的当时已发行股本10%）为限。此上限可随时于本公
司股东大会上取得股东批准后更新，惟新上限不得超
过股东批准更新当日已发行股份总数的10%。
每名合资格参与者的最高配额
除非股东于股东大会上批准，否则每名合资格参与者
的最高配额为于任何12个月期间根据购股权计划及本
公司其他计划向相关合资格参与者授出及将予授出的
尚未行使购股权（包括已行使、尚未行使及已注销的购
股权）获行使时已发行及将予发行的股份总数，不得超
过授出日期的本公司已发行股本的1%。
SHARE OPTION SCHEME (CONTINUED)
Eligible persons
Under the Share Option Scheme, eligible persons include any ful-
time or part-time employes, potential employes, executives or
oficers (including executive, non-executive and independent non-
executive Directors) of the Company or any of its subsidiaries,
and any supliers, customers, agents and advisers who, in the
sole opinion of the Board, has contributed or wil contribute to the
Company and/or any of its subsidiaries (colectively, the “Eligible
Participants”).
Maximum number of Shares
The maximum number of Shares pursuant to which options may
be granted under the Share Option Scheme shal not exced
80,000,000 Shares, which represented 10% of the then isued
share capital of the Company as at the Listing Date and the date
of this anual report. This limit may be refreshed at any time by
obtaining aproval from the Shareholders at general meting of the
Company provided that the new limit must not exced 10% of the
total number of Shares in isue as at the date of the Shareholders’
aproval for the refreshment.
Maximum entitlement of each Eligible Participant
Unles aproved by the Shareholders at general meting, the
maximum entitlement of each Eligible Participant is that the total
number of Shares isued and to be isued upon exercise of the
outstanding options granted and to be granted to such Eligible
Participant (including exercised, outstanding and canceled
options) under the Share Option Scheme and other scheme(s) of
the Company in any 12-month period must not exced 1% of the
isued share capital of the Company at the date of grant.
IBI Group Holdings Limited
2024/2025年度报告
DIRECTORS’ REPORT
董事会报告
购股权计划（续）
购股权期间
购股权可于董事会通知或将予通知的期间内根据购股
权计划的条款全部或部分行使，惟有关期间以购股权
授出日期起计10年为限。
行使购股权前必须持有的最短期限
购股权计划项下各承授人均有权按各自要约文件所载
方式行使其购股权。根据购股权计划可行使购股权的
期间由董事会全权酌情厘定，惟有关期间须与购股权
计划的任何其他条款及条件一致。
归属期
购股权计划并无固定归属期。董事可决定归属条件，
并在授出购股权的要约中提供。
接纳购股权的付款
名义代价1.00港元须于要约文件所载接纳购股权的最
后日期或之前支付。
厘定认购价的基准
购股权计划项下股份的认购价将由董事会全权酌情厘
定，惟无论如何不得低于以下各项的最高者：(a)股份
于要约日期在联交所每日报价表所报正式收市价；(b)
股份于紧接要约日期前五个营业日在联交所每日报价
表所报平均正式收市价；及(c)股份面值。
购股权计划的剩余年期
除非以其他方式终止、注销或修订，否则购股权计划
于上市日期至上市日期第十周年（包括首尾两日）止10
年内生效。
SHARE OPTION SCHEME (CONTINUED)
Option period
An option may be exercised in whole or in part in acordance with
the terms of the Share Option Scheme, during a period notified or
to be notified by the Board, provided that such period of time does
not exced 10 years comencing on the date on which the option
is granted.
Minimum period for which an option must be held before
it is exercised
Each grante under the Share Option Scheme shal be entitled
to exercise his/her option in the maner set out in his/her ofer
document. The period within which an option may be exercised
under the Share Option Scheme is determined by the Board at its
absolute discretion, provided that such period is consistent with
any other terms and condition of the Share Option Scheme.
Vesting period
There is no fixed vesting period under the Share Option Scheme.
The Directors may determine the vesting conditions and provide
them in the ofer of the grant of the options.
Payment on aceptance of the option
A nominal consideration of HK$1.00 is payable on or before the last
day for aceptance of the option as set out in the ofer document.
Basis of determining the subscription price
The subscription price for Shares under the Share Option Schemes
shal be at the absolute discretion of the Board, provided that it is
not les than the highest of (a) the oficial closing price of the Shares
as stated in daily quotation shets of the Stock Exchange on the
ofer date; (b) the average of the oficial closing prices of the Shares
as stated in the daily quotation shets of the Stock Exchange for
the five busines days imediately preceding the ofer date; and (c)
the nominal value of a Share.
The remaining life of the Share Option Scheme
The Share Option Scheme remains in force for 10 years from the
Listing Date and ending on the tenth aniversary of the Listing Date
(both days inclusive), unles otherwise terminated, canceled or
amended.
IBI Group Holdings Limited
Anual Report 2024/2025
DIRECTORS’ REPORT
董事会报告
雇员退休福利
本集团遵照香港法例第485章强制性公积金计划条例
为合资格参与强制性公积金退休福利计划（「强积金计
划」）的雇员在香港运行一项定额供款强积金计划。供
款由本集团及其雇员各自每月按雇员基本薪金的5%（以
1,500港元为限）作出，并于根据强积金计划规则规定
需要支付时自损益扣除。强积金计划资产与本集团资
产分开以独立管理基金持有。本集团作出的雇主供款
于向强积金计划作出供款时全数归属于雇员。本集团
的雇员退休福利详情载于截至二零二五年三月三十一
日止年度的综合财务报表附注10。本集团按强积金计
划作出之供款于作出时全数归属于雇员。因此，本集
团并无可用的被没收供款，以减低强积金计划之现有
供款水平。
公众持股量
于本报告日期，根据本公司可公开取得的资料及就董
事所深知，本公司维持上市规则所规定25%的最低公
众持股量。
核数师
截至二零二五年三月三十一日止年度的财务报表经香
港立信德豪会计师事务所有限公司审核，其将退任，
惟符合资格并愿意于本公司股东周年大会上接受续聘。
有关续聘香港立信德豪会计师事务所有限公司为本公
司核数师的决议案将于二零二五年股东周年大会提呈。
自上市日期以来并无更换核数师。
收购本公司证券的权利
于截至二零二五年三月三十一日止年度任何时间，
本公司或其任何控股公司或附属公司或其任何同系附
属公司概无订立任何安排，致使董事或本公司主要行
政人员或其各自的联系人（定义见上市规则）有权透过
收购本公司或任何其他法人团体的股份或债权证而获益。
EMPLOYE RETIREMENT BENEFITS
The Group operates a defined contribution Mandatory Provident
Fund retirement benefit scheme (the “MPF Scheme”) in Hong
Kong under the Mandatory Provident Fund Schemes Ordinance
(Chapter 485 of the Laws of Hong Kong) for employes who are
eligible to participate in the MPF Scheme. Contributions are made
monthly at 5%, subject to a cap of HK1,500 of the employes’
basic salaries by each of the Group and its employes 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.
Particulars of the employe retirement benefits of the Group are set
out in note 10 to the consolidated financial statements for the year
ended 31 March 2025. The Group’s contributions vest fuly with the
employes when contributed into the MPF Scheme. Acordingly
there were no forfeited contributions available for the Group to
reduce its existing level of contributions to the MPF Scheme.
PUBLIC FLOAT
As at the date of this report and based on the information that is
publicly available to the Company and to the best knowledge of the
Directors, the Company has maintained the minimum public float of
25% as required under the Listing Rules.
AUDITOR
The financial statements for the year ended 31 March 2025 have
ben audited by BDO Limited who wil retire and, being eligible,
ofer themselves for re-apointment at the anual general meting
of the Company. A resolution for the re-apointment of BDO
Limited as auditor of the Company wil be proposed at the 2025
AGM. There has ben no change in auditor since the Listing Date.
RIGHTS TO ACQUIRE THE COMPANY’S
SECURITIES
At no time during the year ended 31 March 2025 was the
Company, or any of its holding companies or subsidiaries, or any
of its felow subsidiaries, a party to any arangement to enable the
Directors or chief executive of the Company or their respective
asociates (as defined under the Listing Rules) to have any right
to acquire benefits by means of the acquisition of shares in, or
debenture of, the Company or any other body corporate.
IBI Group Holdings Limited
2024/2025年度报告
DIRECTORS’ REPORT
董事会报告
股权挂钩协议
截至二零二五年三月三十一日止年度，除购股权计划
外，本公司并无就股份订立任何股权挂钩协议。
董事于竞争业务的权益
截至二零二五年三月三十一日止年度，概无董事及本
公司旗下附属公司的董事或彼等各自的联系人于直接
或间接与本公司及其附属公司的业务构成或可能构成
竞争的业务中拥有权益而须根据上市规则予以披露。
控股东于重大合约的权益
除本报告截至二零二五年三月三十一日止年度的综合
财务报表附注30所披露关联方交易外，概无控股
东于本公司或其任何附属公司于截至二零二五年三月
三十一日止年度所订立对本集团业务属重要（不论是
否涉及向本公司提供服务）的任何重大合约中直接或
间接拥有重大权益。
上市规则第13.51B(1)条项下董事履历变动
董事履历于截至二零二五年三月三十一日止年度及直
至本报告日期止并无其他根据上市规则第13.51B(1)条
须予披露的变动。
EQUITY-LINKED AGREMENTS
During the year ended 31 March 2025, save for the Share Option
Scheme, the Company did not enter into any equity-linked
agrements in respect of Shares.
DIRECTORS’ INTERESTS IN COMPETING
BUSINES
During the year ended 31 March 2025, none of the Directors
and directors of the Company’s subsidiaries, or their respective
asociates had interests in busineses, which compete or are likely
to compete, either directly or indirectly, with the busineses of the
Company and its subsidiaries as required to be disclosed pursuant
to the Listing Rules.
CONTROLING SHAREHOLDERS’ INTERESTS
IN CONTRACTS OF SIGNIFICANCE
Saved as the related party transactions disclosed in note 30 to
the consolidated financial statements for the year ended 31 March
2025 in this report, no Controling Shareholder had a material
interest, either directly or indirectly, in any contract of significance
(whether for the provision of services to the Company or not) to
the busines of the Group to which the Company or any of its
subsidiaries was a party during the year ended 31 March 2025.
CHANGES IN DIRECTOR’S BIOGRAPHICAL
DETAILS UNDER RULE 13.51B(1) OF THE
LISTING RULES
There has ben no other change in Directors’ biographical details
which is required to be disclosed pursuant to Rule 13.51B(1) of the
Listing Rules during the year ended 31 March 2025 and up to the
date of this report.
IBI Group Holdings Limited
Anual Report 2024/2025
DIRECTORS’ REPORT
董事会报告
控股东的不竞争承诺
为避免与本公司存在潜在利益冲突，控股东Neil
David Howard先生及Briliant Blue Sky Limited订立契
据，据此，彼等承诺（其中包括）不会与本集团的业务
竞争。有关契据的详情载于招股章程「与控股东的关
系 — 不竞争契据」一节。
各控股东已就其于截至二零二五年三月三十一日止
年度遵守契据项下承诺的情况向董事会作出书面确认。
接获控股东的确认后，独立非执行董事已进行审阅
以作为年度审阅程序的一部分，并确认控股东于截
至二零二五年三月三十一日止年度已遵守契据规定。
获准许的弥偿条文
在适用法例规限下及根据组织章程细则，董事可从本
公司的资产及溢利获得弥偿，并确保董事免就执行各
自的职务或应有职责因所作出或发生的作为或不作为
而招致或蒙受的所有诉讼、费用、收费、损失、损害
及开支招致任何损害。有关条文于截至二零二五年三
月三十一日止年度一直生效且现正生效中。本公司已
就可能向董事提出的法律诉讼投购适当的董事责任保险。
税项减免
本公司并不知悉任何股东因持有股份而获得任何税项
减免。股东如对购买、持有、出售、买卖股份或行使
任何股份相关权利所引致的税务后果有疑问，应咨询
彼等的专业顾问。
NON-COMPETITION UNDERTAKING BY
CONTROLING SHAREHOLDERS
In order to avoid potential conflicts of interests with our Company,
our Controling Shareholders, namely Mr. Neil David Howard and
Briliant Blue Sky Limited, have entered into the Ded, pursuant to
which they have undertaken, among others, not to compete with
the busines of the Group. Details of the Ded are set out in the
section headed “Relationship with our Controling Shareholders —
Ded of Non-competition” in the Prospectus.
Each of the Controling Shareholders has made a writen
confirmation to the Board in respect of their compliance with the
undertakings in the Ded during the year ended 31 March 2025.
Upon receiving the confirmations from the Controling Shareholders,
the independent non-executive Directors had reviewed the same
as part of the anual review proces and confirmed that the
Controling Shareholders had complied with the Ded during the
year ended 31 March 2025.
PERMITED INDEMNITY PROVISION
Subject to aplicable laws, the Directors shal be indemnified and
secured harmles out of the asets and profits of the Company
from and against al actions, costs, charges, loses, damages and
expenses which they or any of them may incur or sustain by or 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,
pursuant to the Articles. Such provisions were in force throughout
the year ended 31 March 2025 and are curently in force. The
Company has aranged for apropriate insurance cover for
Directors’ liabilities in respect of legal actions that may be brought
against the Directors.
TAX RELIEF
The Company is not aware of any relief on taxation available to
the Shareholders by reason of their holdings of the Shares. If
the Shareholders are unsure about the taxation implications of
purchasing, holding, disposing of, dealing in, or exercising of any
rights in relation to the Shares, they are advised to consult their
profesional advisers.
IBI Group Holdings Limited
2024/2025年度报告
DIRECTORS’ REPORT
董事会报告
关联方交易
本集团于截至二零二五年三月三十一日止年度日常业
务过程中进行的关联方交易详情载于本报告截至二零
二五年三月三十一日止年度的综合财务报表附注30。
截至二零二五年三月三十一日止年度的综合财务报表
附注30所载关联方交易构成「持续关连交易」（定义见
上市规则第14A章），惟获全面豁免遵守上市规则第
14A章的披露规定。
关连交易
截至二零二五年三月三十一日止年度，本集团并无进
行任何须遵守上市规则项下申报及年度审阅规定的「关
连交易」或「持续关连交易」（定义见上市规则第14A章）。
上文提及的本年报其他章节、报告或附注均构成本报
告其中一部分。
代表董事会
主席
Neil David Howard
香港，二零二五年六月二十六日
RELATED PARTY TRANSACTIONS
Details of the related party transactions undertaken in the ordinary
course of busines by the Group during the year ended 31 March
2025 are set out in note 30 to the consolidated financial statements
for the year ended 31 March 2025 in this report.
The related party transactions set out in note 30 to the consolidated
financial statements for the year ended 31 March 2025 constitute
“continuing conected transactions” (as defined under Chapter 14A
of the Listing Rules) which are fuly exempted from the disclosure
requirements under Chapter 14A of the Listing Rules.
CONECTED TRANSACTIONS
During the year ended 31 March 2025, the Group had not
conducted any “conected transaction” or “continuing conected
transaction” (as defined under Chapter 14A of the Listing Rules)
which is subject to reporting and anual review requirements under
the Listing Rules.
Al references above to other sections, reports or notes in this
anual report form part of this report.
On behalf of the Board
Neil David Howard
Chairman
Hong Kong, 26 June 2025
IBI Group Holdings Limited
Anual Report 2024/2025
CORPORATE GOVERNANCE REPORT
企业管治报告
The Company is comited to fulfiling its responsibilities to the
Shareholders and protecting and enhancing Shareholder value
through god corporate governance. The Company has developed
and implemented sound governance policies and measures, and
the Board is responsible for performing such corporate governance
duties. The Board wil continue to review and monitor the corporate
governance of the Company with reference to the CG Code so
as to maintain a high standard of corporate governance of the
Company.
The Company confirms that, other than the deviation from Code
Provision C.2.1, the Company has complied with al the Code
Provisions throughout the year ended 31 March 2025.
Our Company complies with al the Code Provisions with the
exception of Code Provision C.2.1, which requires the roles of
chairman and chief executive be diferent individuals. Under Code
Provision C.2.1 of the CG Code, the roles of chairman and chief
executive should be separate and should not be performed by the
same individual. Mr. Neil David Howard holds both positions. Mr.
Howard has ben primarily responsible for overseing our Group’s
general management and busines development and for formulating
busines strategies and policies for our busines management and
operations since he joined our Group in 2006. Taking into acount
the continuation of management and the implementation of our
busines strategies, our Directors (including our independent non-
executive Directors) consider it is most suitable for Mr. Howard to
hold both the positions of chief executive oficer and the chairman
of our Board and the present arangements are beneficial to and in
the interests of our Company and our Shareholders as a whole. Our
Company wil continue to review and consider spliting the roles of
chairman of the Board and chief executive oficer of our Company
at a time when it is apropriate and suitable by taking into acount
the circumstances of our Group as a whole.
本公司致力履行对股东的责任，透过良好企业管治保
障及提升股东价值。本公司已制定及实施健全的管治
政策及措施，而董事会负责履行有关企业管治职责。
董事会将持续参照企管守则检讨及监督本公司的企业
管治情况，以维持本公司高水准的企业管治。
本公司确认，除偏离守则条文C.2.1外，截至二零二五
年三月三十一日止年度，本公司一直遵守所有守则条
文的规定。
本公司遵守所有守则条文，惟规定主席与行政总裁的
角色应由不同人士担任的守则条文C.2.1除外。根据
企管守则的守则条文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。Neil David Howard
先生兼任两个职务。自二零六年加入本集团以来，
Howard先生一直主要负责监督本集团的整体管理及业
务发展以及就业务管理及营运制定业务策略及政策。
考虑到管理的持续及业务策略的实施，董事（包括独立
非执行董事）认为，Howard先生同时担任行政总裁及
董事会主席职务最为合适，当前安排属有利且符合本
公司及股东整体利益。本公司将继续检讨，并会在计
及本集团整体情况后考虑于适当及合适时候将董事会
主席与本公司行政总裁的角色分开。
IBI Group Holdings Limited
2024/2025年度报告
CORPORATE GOVERNANCE REPORT
企业管治报告
BOARD OF DIRECTORS
Responsibilities
The Board is charged with promoting the suces of the Company
by directing and supervising its afairs. The Board has general powers
for the management and conduct of the Company’s busines. The
day-to-day operations and management are delegated by the Board
to the management of the Company, who wil implement the strategy
and direction as determined by the Board.
Composition
The Company is comited to the view that the Board should
include a balanced composition of executive and independent non-
executive Directors so that the Board has a strong independent
element, which can efectively exercise independent judgement.
Curently, the Board comprises two executive Directors and thre
independent non-executive Directors:
The Composition of the Board during the year ended 31 March
2025 and up to the date of this anual report is as folows:
Executive Directors
Mr. Neil David Howard (Chairman and chief executive oficer)
Mr. Steven Paul Smithers
Independent non-executive Directors
Mr. Robert Peter Andrews (resigned on 31 December 2024)
Mr. David John Kenedy
Mr. Christopher John Broke
Ms. Ka Wai Yeung (apointed on 31 December 2024)
The biographical details of each of the Directors are set out in the
section headed “Biographies of Directors and Senior Management”
of this report.
董事会
职责
董事会负责透过指导及监督本公司事务，推动本公司
迈向成功。董事会拥有管理及从事本公司业务的一般
权力。董事会将日常经营及管理权力授予本公司管理
层负责，管理层将执行董事会厘定的策略及指引。
组成
本公司一直认为董事会应具备执行董事与独立非执行
董事的均衡组合，致使董事会具备高度独立性，以便
有效作出独立判断。
目前，董事会包括两名执行董事及三名独立非执行董事：
于截至二零二五年三月三十一日止年度及直至本年报
日期，董事会成员组成如下：
执行董事
Neil David Howard先生（主席兼行政总裁）
Steven Paul Smithers先生
独立非执行董事
Robert Peter Andrews先生
（于二零二四年十二月三十一日辞任）
David John Kenedy先生
Christopher John Broke先生
杨家慧女士（于二零二四年十二月三十一日获委任）
各董事的履历详情载于本报告「董事及高级管理层简历」
一节。
IBI Group Holdings Limited
Anual Report 2024/2025
CORPORATE GOVERNANCE REPORT
企业管治报告
Responsibilities of executive Directors
The executive Directors are responsible for the leadership and
control of the Company and overseing the Group’s busineses
development, strategic formulation and are colectively responsible
for promoting the suces of the Company by directing and
supervising its afairs.
Responsibilities of independent non-executive Directors
The independent non-executive Directors participate in the Board
metings to bring in an independent judgment to bear on the
isues of strategy, policy, performance, acountability, resources,
key apointments and standards of conducts and scrutinise the
Company’s performance in achieving agred corporate goals and
objectives. They are also responsible for ensuring a high standard
of financial and other mandatory reporting of the Board as wel as
providing a balance in the Board in order to efectively exercise an
independent judgment on the corporate actions of the Company so
as to protect Shareholders’ interest and the overal interest of the
Group.
Throughout the year ended 31 March 2025, the Company
had thre independent non-executive Directors, which met the
requirements of the Listing Rules that the number of independent
non-executive Directors must represent at least one-third of the
Board and should not be les than thre, and that at least one
of the independent non-executive Directors has apropriate
profesional qualifications or acounting or related financial
management expertise.
Each of the independent non-executive Directors has made an
anual confirmation of independence in writing pursuant to Rule
3.13 of the Listing Rules and the Board is satisfied that al the
independent non-executive Directors have ben independent and
met the independence guidelines set out in Rule 3.13 of the Listing
Rules during the year ended 31 March 2025 and up to the date of
this report.
Term of Directors
Each of the Directors has ben apointed for an initial term of thre
years comencing from their respective dates and shal continue
thereafter until it is terminated by either party by giving at least
thre months’ prior notice in writing or otherwise in acordance
with the terms and conditions of the service contract and leter
of apointment entered betwen each of the Directors and the
Company.
执行董事的职责
执行董事负责领导及监控本公司以及监督本集团的业
务发展及策略制定，并共同负责透过指导及监督本公
司事务，推动本公司迈向成功。
独立非执行董事的职责
独立非执行董事参与董事会议，为有关策略、政策、
表现、问责制、资源、重要委任及行为准则等事宜提
供独立判断，并审视本公司于实现协定企业目标及宗
旨方面的表现。彼等亦负责确保董事会作出高水准的
财务及其他强制性汇报，并于董事会内提供平衡作用，
务求有效行使对本公司企业行动的独立判断，以保障
股东利益及本集团整体利益。
截至二零二五年三月三十一日止年度全年，本公司有
三名独立非执行董事，符合上市规则有关独立非执行
董事人数须占董事会成员人数至少三分之一且不得少
于三人，以及至少一名独立非执行董事须具备适当专
业资格或会计或相关财务管理专业知识的规定。
各独立非执行董事已根据上市规则第3.13条以书面作
出年度独立性确认，而董事会信纳，于截至二零二五
年三月三十一日止年度及直至本报告日期，全体独立
非执行董事均具独立性并符合上市规则第3.13条所载
独立性指引。
董事任期
各董事的初步任期均由其各自的委任日期起计为期三
年，并将于其后继续生效，直至任何一方发出不少于
三个月事先书面通知或根据各董事与本公司订立的服
务合约及委聘书之条款及条件予以终止为止。
IBI Group Holdings Limited
2024/2025年度报告
CORPORATE GOVERNANCE REPORT
企业管治报告
Board Independence Evaluation
The Company recognizes the importance of the Board
independence to corporate governance. In particular, in order to
ensure the strong independence of the Board and make ensure
that the Board can obtain independent views and opinions, the
folowing mechanisms are required: 1) in asesing the qualification
of potential candidates to become independent Directors, the
Nomination Comite and the Board wil consider, among others,
whether the candidates are able to dedicate suficient time to
fulfil their duties as independent Directors and the candidates’
backgrounds and qualifications, in order to ases whether such
candidates are able to bring an independent view to the Board;
and 2) the Nomination Comite is authorized to ases the
independence of al independent non-executive Directors on an
anual basis with reference to the independence criteria set out in
the Listing Rules so as to ensure that they can continue to exercise
independent judgment.
Al Directors have ful and timely aces to al information of the
Company and to the advice and services of the company secretary
and senior management of the Company. Directors are generaly
entitled to sek independent profesional advice on the discharge
of their duties to the Company in apropriate circumstances upon
request and at our Company’s expense.
At the same time, the Company has formulated internal policies
(including but not limited to the Articles, the terms of reference
of the Remuneration Comite, the Audit Comite and the
Nomination Comite) to ensure that the Board is provided with
independent views and opinions. For the year ended 31 December
2025, the Company has reviewed the implementation and
efectivenes of the above mechanism and is of the view that the
above mechanism is able to ensure that the Board is provided with
independent views and opinions.
董事会独立性评估
本公司深明董事会独立性对企业管治的重要性。尤其
是，为确保董事会的强大独立性并确保董事会能够获
得独立的观点及意见，需要建立以下机制：1）在评估
潜在候选人是否合资格成为独立董事时，提名委员会
及董事会将考虑（其中包括）候选人能否投入足够的时
间履行其作为独立董事的职责，以及候选人的背景及
资历，以评估该等候选人能否为董事会带来独立的观
点；及2）提名委员会获授权参考上市规则所载的独立
性标准，每年评估所有独立非执行董事的独立性，以
确保彼等能继续作出独立判断。
所有董事均可全面且及时查询本公司所有资料，并可
取得本公司之公司秘书及高级管理层提供的意见及服
务。董事一般有权于作出要求后，在适当情况下就其
向本公司履行职责寻求独立专业意见，相关费用由本
公司支付。
同时，本公司已制定内部政策（包括但不限于组织章程
细则、薪酬委员会、审核委员会及提名委员会的职权
范畴），以确保董事会能获得独立的观点及意见。截至
二零二五年十二月三十一日止年度，本公司已检讨上
述机制的实施及有效性，并认为上述机制能确保董事
会获得独立的观点及意见。
| Number of senior management | ||
|---|---|---|
| 高级 管理层人数 |
IBI Group Holdings Limited
Anual Report 2024/2025
CORPORATE GOVERNANCE REPORT
企业管治报告
Remuneration
The Directors and senior management receive remuneration in
the form of salaries, alowances and other benefits, including our
contribution on defined contribution retirement plans.
The agregate amount of remuneration (including salaries,
alowances, discretionary bonuses, other benefits and contributions
to pension schemes) paid or payable to the Directors for the year
ended 31 March 2025 was aproximately HK$8.3 milion.
The remuneration of the Directors is determined with reference to
salaries paid by comparable companies, time comitment and
responsibilities of the Directors and performance of the Group.
Details of the remuneration of the Directors and senior management
for the year ended 31 March 2025 are set out in note 12 to the
consolidated financial statements for the year ended 31 March
2025. In adition, pursuant to Code Provision E.1.5, the anual
remuneration of members of the senior management by band for
the year ended 31 March 2025 is set out below:
Remuneration of the senior management by bands
Nil–HK$1,000,000零至1,000,000港元–
HK$1,000,001–HK$1,500,0001,000,001港元至1,500,000港元2
HK$1,500,001–HK$2,000,0001,500,001港元至2,000,000港元3
Save as disclosed in this report, (i) no remuneration was paid to the
Directors or the five highest paid individuals as an inducement to
join, or upon joining, our Group; (i) no compensation was paid to,
or receivable by, the Directors or past Directors or the five highest
paid individuals during the year ended 31 March 2025 for the los
of ofice as director of any member of the Group or of any other
ofice in conection with the management of the afairs of any
member of the Group; and (i) none of the Directors waived any
emoluments during the same period.
Save as disclosed in this report, no Director or none of the five
highest paid individuals has ben paid in cash or shares or
otherwise by any person either to induce him to become, or to
qualify him as a Director, or otherwise for service rendered by him
in conection with the promotion or formation of us.
薪酬
董事及高级管理层以薪金、津贴及其他福利（包括定额
供款退休计划供款）的形式收取薪酬。
截至二零二五年三月三十一日止年度，已付或应付董
事的薪酬总额（包括薪金、津贴、酌情花红、其他福利
及退休计划供款）约为8.3百万港元。
董事薪酬参照可资比较公司所付薪酬、董事所投放时
间及职责以及本集团表现而厘定。截至二零二五年三
月三十一日止年度的董事及高级管理层薪酬详情载于
截至二零二五年三月三十一日止年度的综合财务报表
附注12。此外，根据守则条文E.1.5，高级管理层成员
截至二零二五年三月三十一日止年度的年度薪酬按组
别划分如下：
按组别划分的高级管理层薪酬
除本报告披露者外，(i)概无向董事或五名最高薪酬人
士支付任何薪酬，作为招揽或加入本集团时的奖励；(i)
于截至二零二五年三月三十一日止年度并无就离任本
集团任何成员公司董事职务或与管理本集团任何成员
公司事务有关的任何其他职务向董事或前任董事或五
名最高薪酬人士支付或应付任何补偿；及(i)概无董事
于同期放弃任何薪酬。
除本报告披露者外，概无任何人士向任何董事或五名
最高薪酬人士支付现金或股份或其他报酬，以招揽其
成为或使其有资格成为董事或答谢其就我们的发起或
组成提供服务。
IBI Group Holdings Limited
2024/2025年度报告
CORPORATE GOVERNANCE REPORT
企业管治报告
董事就任须知及持续专业发展
各董事（即Neil David Howard先生、Steven Paul
Smithers先生、David John Kenedy先生、Christopher
John Broke先生及杨家慧女士）于截至二零二五年三
月三十一日止年度透过阅读有关香港上市公司董事所
承担职责、上市规则、防贪及其他适用法例及规例的
材料，参加持续专业发展。本公司为全体董事安排合
适培训，以发展及增进其知识与技能，作为其持续专
业发展的一部分。
新委任董事将获安排全面、正式兼特为其而设之入职
培训，包括获提供与其角色、责任及持续义务有关之
主要指引、文件及刊物，本公司架构、业务、风险管
理及其他管治常规之简介，与其他董事会面，以协助
新委任董事了解本公司之管理、业务及管治政策及常
规，并确保其对本公司的运作及业务有适当理解。
董事会及董事委员会议以及董事出席记录
常规董事会议须于会议举行前至少14日通知全体董
事。至于其他董事会及董事委员会议，一般亦会发
出合理通知。
董事会文件连同一切适当、完备及可靠的资料将于各
董事会或董事委员会议举行前至少三日送呈全体董
事，以便董事了解本公司最近期发展及财务状况以及
作出知情决定。董事会及各董事亦可于有需要时另行
以独立途径接触本公司高级管理层。
董事会及董事委员会议记录由公司秘书保存，并可
供任何董事查阅。董事会及董事委员会议记录充分
详细记录所审议事项及达致的决定，包括董事提出的
任何疑虑或表达的异议。会议记录的初稿及最终定稿
将于会议举行后的合理时间内送呈全体董事以供评注
及记录。
Directors’ induction and continuing profesional
development
Each of the Directors, namely, Mr. Neil David Howard, Mr. Steven
Paul Smithers, Mr. David John Kenedy, Mr. Christopher John
Broke and Ms. Ka Wai Yeung had participated in continuous
profesional development during the year ended 31 March 2025 by
reading materials relating to duties and responsibilities of directors
of a listed company in Hong Kong, the Listing Rules, anti-coruption
and other aplicable laws and regulations. The Company aranges
suitable training for al the Directors in order to develop and refresh
their knowledge and skils as part of their continuous profesional
development.
Newly apointed Director wil be aranged a comprehensive, formal
and tailored induction which includes provision of key guidelines,
documents and publications relevant to their roles, responsibilities
and ongoing obligations; a briefing on the Company’s structure,
busineses, risk management and other governance practices
and meting with other felow Directors so as to help the newly
apointed Directors familiarize with the management, busines and
governance policies and practices of the Company, and ensure that
they have a proper understanding of the operations and busineses
of the Company.
Metings of Board and Board comites and Directors’
atendance records
Notice of regular Board metings is served on al the Directors
at least 14 days before the meting. For other Board and Board
comite metings, reasonable notice is generaly given.
Board papers together with al apropriate, complete and reliable
information are sent to al Directors at least thre days before each
Board or Board comite meting to kep Directors aprised of
the latest developments and financial position of the Company and
to enable them to make informed decisions. The Board and each
Director also have separate and independent aces to the Senior
Management of the Company where necesary.
The minutes of Board and Board comite metings are kept
by the company secretary and are open for inspection by any
Director. The minutes of Board and Board comite metings
record in suficient detail the maters considered and decisions
reached, including any concerns raised by Directors or disenting
views expresed. Draft and final versions of minutes are sent to
al Directors for their coment and records respectively, within a
reasonable time after the metings are held.
| Attended/ Eligible to attend | |||
|---|---|---|---|
| 已出席╱合资格出席 | |||
| 2024 Annual General Meeting | Board Meetings | ||
| Name of Directors | 董事姓名 | 二零二四年 股东周年大会 | 董事会会议 |
IBI Group Holdings Limited
Anual Report 2024/2025
CORPORATE GOVERNANCE REPORT
企业管治报告
During the year ended 31 March 2025, one general meting was
held while four Board metings were held whereat the Board,
among others, (i) reviewed and aproved the financial results for
the year ended 31 March 2024; (i) reviewed and aproved the
financial results for the six months ended 30 September 2024;
(i) considered and aproved the overal strategies and policies of
the Group; and (iv) considered and aproved the remuneration
packages of individual executive Directors and the senior
management. The atendance of individual Directors at the general
meting and Board metings is set out in the folowing table:
Mr. Neil David HowardNeil David Howard先生1/14/4
Mr. Steven Paul SmithersSteven Paul Smithers先生1/14/4
Mr. Robert Peter Andrews
(resigned on 31 December 2024)
Robert Peter Andrews先生
（于二零二四年十二月三十一日辞任）1/12/2
Mr. David John KenedyDavid John Kenedy先生1/14/4
Mr. Christopher John BrokeChristopher John Broke先生1/14/4
Ms. Ka Wai Yeung
(apointed on 31 December 2024)
杨家慧女士
（于二零二四年十二月三十一日获委任）N/A 不适用2/2
CORPORATE GOVERNANCE FUNCTIONS
The Board is responsible for performing the functions set out in
the Code Provision A.2.1. The Board reviewed the Company’s
corporate governance policies and practices, training and
continuous profesional development of Directors and Senior
Management, the Company’s policies and practices on compliance
with legal and regulatory requirements, the compliance of the
Model Code and writen employe guidelines, and the Company’s
compliance with the CG Code and disclosure in this corporate
governance report.
截至二零二五年三月三十一日止年度，本公司举行一
次股东大会，而董事会则举行四次董事会议以（其
中包括）(i)审阅及批准截至二零二四年三月三十一日止
年度的财务业绩；(i)审阅及批准截至二零二四年九月
三十日止六个月的财务业绩；(i)考虑及批准本集团整
体策略及政策；及(iv)考虑及批准个别执行董事及高级
管理层的薪酬待遇。个别董事出席股东大会及董事会
会议的记录载于下表：
企业管治职能
董事会负责履行守则条文A.2.1所载职能。董事会审阅
本公司的企业管治政策及常规、董事及高级管理层的
培训及持续专业发展、本公司遵守法律及法规要求的
政策及常规、遵守标准守则及书面员工指引的情况、
本公司遵守企管守则的情况及本企业管治报告所载披
露事项。
IBI Group Holdings Limited
2024/2025年度报告
CORPORATE GOVERNANCE REPORT
企业管治报告
BOARD COMITES
The Company has established thre board comites, namely
the Audit Comite, the Remuneration Comite and the
Nomination Comite. Each of the Board comites operates
under its terms of reference. The terms of reference of the Board
comites are available on the websites of the Company and the
Stock Exchange.
Audit comite
We have established the Audit Comite in compliance with
Rule 3.21 of the Listing Rules on 20 September 2016. The Audit
Comite consists of thre members, namely Mr. David John
Kenedy (Chairman), Mr. Christopher John Broke and Ms. Ka Wai
Yeung.
The principal responsibilities of the Audit Comite include:
- ,
reapointment and removal of the external auditor, aproving
the remuneration and terms of engagement of the external
auditor, and considering any questions of resignation or
dismisal of that auditor;
- ’s independence
and objectivity and the efectivenes of the audit proces in
acordance with aplicable standards;
• developing and implementing a policy on the engagement
of an external auditor to suply non-audit services and
reporting the same to the Board, and identifying and making
recomendations on any maters in respect of which it
considers that action or improvement is neded;
• discusing with the external auditor before the audit
comences, the nature and scope of the audit and reporting
obligations, and ensuring proper co-ordination where more
than one audit firm is involved;
• discusing problems and reservations arising from the interim
and final audits, and any maters the external auditor may
wish to discus (in the absence of the Senior Management
where necesary);
董事委员会
本公司设有三个董事委员会，分别为审核委员会、薪
酬委员会及提名委员会。各董事委员会在其职权范围
内运作。董事委员会的职权范围载于本公司网站及联
交所网站。
审核委员会
我们已于二零一六年九月二十日根据上市规则第3.21
条成立审核委员会。审核委员会由三名成员组成，
分别为David John Kenedy先生（主席）、Christopher
John Broke先生及杨家慧女士。
审核委员会的主要职责包括：
- 、续聘及解聘向董事会提出
推荐建议、批准外聘核数师的薪酬及聘用条款，
以及考虑任何有关该核数师辞任或解聘的问题；
- 、
客观性及核数程序的有效性；
• 制定及执行聘任外聘核数师提供非核数服务的政
策，并就此向董事会汇报，以及识别其认为需要
行动或改善的任何事宜并就此提出推荐建议；
• 于核数工作开始前先与外聘核数师讨论核数性质
及范畴以及申报责任，若涉及多于一间核数公司，
则确保各公司之间妥为协调；
• 讨论中期及年度核数过程中产生的问题及保留意
见，以及外聘核数师可能希望讨论的任何事宜（如
有需要，可要求高级管理层避席）；
IBI Group Holdings Limited
Anual Report 2024/2025
CORPORATE GOVERNANCE REPORT
企业管治报告
- ’s financial statements,
anual report and acounts, half-year report and, if prepared
for publication, quarterly reports, and reviewing significant
financial reporting judgements contained in them;
- ’s financial controls, risk management
and internal control systems;
• discusing the risk management and internal control systems
with the Senior Management to ensure that the Senior
Management has performed its duties in establishing and
maintaining efective systems, including maters on adequacy
of resources, staf qualifications and experience, training
programes and budget of the Company’s acounting and
financial reporting function;
• considering major investigations findings on risk management
and internal control maters as delegated by the Board or on
its own initiative and the Senior Management’s response to
these findings;
- , ensuring co-ordination
betwen the internal and external auditors, ensuring that
the internal audit function is adequately resourced and has
apropriate standing within the Company, and reviewing and
monitoring its efectivenes;
- ’s financial and acounting policies and
practices;
- ’s management leter, any
material queries raised by such auditor to the Senior
Management about the acounting records, financial
acounts or systems of control and the Senior Management’s
response;
• ensuring that the Board wil provide a timely response to the
isues raised in the external auditor’s management leter;
• reporting to the Board on the maters set out in the Audit
Comite’s terms of reference;
- ,
in confidence, to raise concerns about posible improprieties
in financial reporting, internal control or other maters and
ensuring that proper arangements are in place for fair
and independent investigation of these maters and for
apropriate folow-up action;
- 、年度报告及账目、半年度
报告及（如为刊登而编制）季度报告的完整性，并
审阅当中所载重大财务申报判断；
- 、风险管理及内部监控制
度；
- ，确
保高级管理层已履行职责建立及维持有效的系统，
包括本公司在会计及财务申报职能方面的资源、
员工资历及经验、培训课程及预算是否充足；
• 在董事会委托下或自发考虑有关风险管理及内部
监控事宜的重大调查结果以及高级管理层对有关
调查结果的回应；
- ，须确保内部核数师与外聘
核数师互相协调、确保内部审核部门获提供足够
资源及于本公司内具有适当地位，并检讨及监察
其有效性；
- ；
- 、该核数师向高级管
理层提出任何有关会计记录、财务账目或监控制
度的重大查询以及高级管理层的回应；
• 确保董事会及时回应外聘核数师管理层函件提出
的事宜；
- ；
- 、
内部监控或其他事宜的潜在不当行为的安排，并
确保作出适当安排以公平独立地调查该等事宜及
采取适当跟进行动；
IBI Group Holdings Limited
2024/2025年度报告
CORPORATE GOVERNANCE REPORT
企业管治报告
• acting as the key representative body for overseing the
Company’s relations with the external auditor;
• establishing a whistle-blowing policy and system for
employes of the Company and those who deal with the
Company (e.g. customers and supliers) to raise concerns,
in confidence, with the Audit Comite about posible
improprieties in any mater related to the Company;
- ’s policies
and practices on corporate governance and making
recomendations to the Board;
• reviewing and monitoring the training and continuous
profesional development of the Directors and the Senior
Management;
- ’s policies and
practices on compliance with legal and regulatory
requirements;
- , reviewing and monitoring the code of conduct
and compliance manual (if any) aplicable to employes and
the Directors;
- ’s compliance with the CG Code and
the disclosure in the Corporate Governance Report in the
Company’s anual report;
• reviewing on-going conected transactions of the Company
and ensuring compliance with the terms of aproval by the
Shareholders;
• reviewing the findings of internal investigations and the Senior
Management’s responses in relation to any suspected fraud
or iregularities or failures of internal controls or infringement
of laws, rules and regulations; and
• considering any other topics as determined by the Board.
• 作为负责监察本公司与外聘核数师之间关系的主
要代表；
- （如客户及
供应商）制定举报政策及制度，供其保密地向审
核委员会提出涉及本公司的任何潜在不当行为的
关注；
- ，并向
董事会提出推荐建议；
• 检讨及监察董事及高级管理层的培训及持续专业
发展；
• 检讨及监察本公司在遵守法律及监管规定方面的
政策及常规；
- 、检讨及监察适用于雇员及董事的行为守则
及合规手册（如有）；
• 检讨本公司遵守企管守则的情况及本公司年报内
企业管治报告所载披露事项；
- ，确保其符合股东批
准的条款；
• 审阅内部调查的调查结果以及高级管理层对任何
涉嫌欺诈或违规行为或内部监控失当或违法违规
行为的回应；及
- 。
| Name of committee members | Attended/ Eligible to attend | |
|---|---|---|
| 委员会成员姓名 | 已出席╱合资格出席 | |
IBI Group Holdings Limited
Anual Report 2024/2025
CORPORATE GOVERNANCE REPORT
企业管治报告
During the year ended 31 March 2025, two Audit Comite
metings were held whereat the Audit Comite, among others,
(i) reviewed the unaudited consolidated financial results of the
Company for the six months ended 30 September 2024; and (i)
reviewed the consolidated financial statements of the Company
for the year ended 31 March 2024. The atendance of individual
members is set out in the folowing table:
Mr. David John KenedyDavid John Kenedy先生2/2
Mr. Robert Peter Andrews
(resigned on 31 December 2024)
Robert Peter Andrews先生
（于二零二四年十二月三十一日辞任）
2/2
Mr. Christopher John BrokeChristopher John Broke先生2/2
Ms. Ka Wai Yeung
(apointed on 31 December 2024)
杨家慧女士
（于二零二四年十二月三十一日获委任）
N/A 不适用
Remuneration comite
We established the Remuneration Comite in compliance
with Rule 3.25 of the Listing Rules on 20 September 2016. The
Remuneration Comite consists of five members, namely Mr.
Christopher John Broke (chairman), Mr. David John Kenedy,
Ms. Ka Wai Yeung, Mr. Neil David Howard and Mr. Steven Paul
Smithers. The principal responsibilities of the Remuneration
Comite include:
- ’s
policy and structure for the remuneration of al Directors and
the Senior Management and on the establishment of a formal
and transparent procedure for developing a remuneration
policy;
- ’s
remuneration proposals by reference to the Board’s
corporate goals and objectives;
• making recomendations to the Board on the remuneration
packages of individual executive Directors and the Senior
Management and such packages include benefits in kind,
pension rights and compensation payments, including any
compensation payable for los or termination of their ofice or
apointment;
截至二零二五年三月三十一日止年度，审核委员会举
行两次会议以（其中包括）(i)审阅本公司截至二零二四
年九月三十日止六个月的未经审核综合财务业绩；及(i)
审阅本公司截至二零二四年三月三十一日止年度的综
合财务报表。个别成员的出席记录载于下表：
薪酬委员会
我们已于二零一六年九月二十日根据上市规则第3.25
条成立薪酬委员会。薪酬委员会由五名成员组成，分
别为Christopher John Broke先生（主席）、David John
Kenedy先生、杨家慧女士、Neil David Howard先生及
Steven Paul Smithers先生。薪酬委员会的主要职责包
括：
• 就本公司涉及全体董事及高级管理层的薪酬政策
及结构以及制定正式透明薪酬政策的程序向董事
会提出推荐建议；
• 参考董事会的企业目标及宗旨审阅及批准高级管
理层的薪酬方案；
• 就个别执行董事及高级管理层的薪酬待遇向董事
会提出推荐建议，而有关待遇包括实物福利、退
休金权利及补偿付款（包括丧失或终止职务或委
任的任何应付补偿）；
| Name of committee members | Attended/ Eligible to attend | |
|---|---|---|
| 委员会成员姓名 | 已出席╱合资格出席 | |
IBI Group Holdings Limited
2024/2025年度报告
CORPORATE GOVERNANCE REPORT
企业管治报告
- , time
comitment, responsibilities and employment conditions
elsewhere in the Group;
• reviewing and aproving compensation payable to the
executive Directors and the Senior Management for any los
or termination of ofice or apointment to ensure that it is
consistent with contractual terms and is otherwise fair and
not excesive;
• reviewing and aproving compensation arangements relating
to the dismisal or removal of Directors for misconduct to
ensure that they are consistent with contractual terms and
are otherwise reasonable and apropriate;
- /her asociates (as
defined in the Listing Rules) is involved in deciding his/her
own remuneration;
- ’s policy on expense reimbursements for
the Directors and the Senior Management; and
- /or aproving maters relating to share schemes
under Chapter 17 of the Listing Rules.
The Remuneration Comite has adopted the model described
in Code Provision E.1.2(c) (i) of the CG Code (i.e. make
recomendation to the Board on the remuneration packages of
individual executive Director and Senior Management).
During the year ended 31 March 2025, one Remuneration
Comite meting was held whereat the Remuneration Comite
reviewed and recomended to the Board for consideration of the
remuneration packages of individual executive Directors and the
senior management. The atendance of individual members is set
out in the folowing table.
Mr. Christopher John BrokeChristopher John Broke先生1/1
Mr. Robert Peter Andrews
(resigned on 31 December 2024)
Robert Peter Andrews先生
（于二零二四年十二月三十一日辞任）
N/A 不适用
Mr. David John KenedyDavid John Kenedy先生1/1
Ms. Ka Wai Yeung
(apointed on 31 December 2024)
杨家慧女士
（于二零二四年十二月三十一日获委任）
1/1
Mr. Neil David HowardNeil David Howard先生1/1
Mr. Steven Paul SmithersSteven Paul Smithers先生1/1
- 、所投放时间、职责
及本集团其他成员公司的雇用条件；
• 检讨及批准就执行董事及高级管理层丧失或终止
职务或委任应付的补偿，以确保有关补偿按合约
条款厘定或（如未能按合约条款厘定）属公平且
不会造成过重负担；
• 检讨及批准有关罢免或解聘行为不当董事的补偿
安排，以确保有关安排按合约条款厘定或（如未
能按合约条款厘定）属合理恰当；
- （定义见上市规则）
参与厘定本身薪酬；
- ；
及
- ╱或批准上市规则第十七章所述有关股份
计划的事宜。
薪酬委员会已采纳企管守则的守则条文E.1.2(c) (i)项下
模式（即就个别执行董事及高级管理层的薪酬待遇向
董事会提出推荐建议）。
截至二零二五年三月三十一日止年度，薪酬委员会举
行一次会议以检讨个别执行董事及高级管理层的薪酬
待遇并就此提出推荐建议供董事会考虑。个别成员的
出席记录载于下表。
IBI Group Holdings Limited
Anual Report 2024/2025
CORPORATE GOVERNANCE REPORT
企业管治报告
提名委员会
我们已于二零一六年九月二十日根据上市规则第3.27A
条成立提名委员会。提名委员会由五名成员组成，
分别为Neil David Howard先生（主席）、David John
Kenedy先生、Christopher John Broke先生、杨家慧
女士及Steven Paul Smithers先生。提名委员会的主要
职责为就委任董事及高级管理层向董事会提出推荐建议。
提名委员会的主要职责包括：
- 、规模及组成（包括技
能、知识、经验及观点多元性），并就任何建议
变动向董事会提出推荐建议以完善本公司的企业
策略；
- ，并
于适当考虑董事会多元化的裨益后挑选提名董事
人选或就此向董事会提出推荐建议；
- ；
- （「董事会成员
多元化政策」）（如适用）并审阅董事会为推行有关
政策所设定可衡量目标及实现该等目标的进度；
及
- （尤其是主席及行
政总裁）的继任计划向董事会提出推荐建议。
截至二零二五年三月三十一日止年度，提名委员会举
行一次会议以（其中包括）(i)评估独立非执行董事的独
立性；(i)就于二零二四年股东周年大会上重新委任全
体退任董事为董事提出推荐建议以供董事会考虑；(i)
检讨董事会结构、规模及组成；及(iv)检讨董事会成员
多元化政策。个别成员的出席记录载于下表。
Nomination comite
We established the Nomination Comite in compliance with
Rule 3.27A of the Listing Rules on 20 September 2016. The
Nomination Comite consists of five members, namely Mr.
Neil David Howard (chairman), Mr. David John Kenedy, Mr.
Christopher John Broke, Ms. Ka Wai Yeung and Mr. Steven Paul
Smithers. The primary duties of the Nomination Comite are to
make recomendations to our Board on the apointment of our
Directors and Senior Management.
The principal responsibilities of the Nomination Comite include:
- , size and composition (including
the skils, knowledge and experience and diversity of
perspectives) of the Board at least anualy and making
recomendations on any proposed changes to the Board to
complement the Company’s corporate strategy;
• identifying individuals suitably qualified to become Board
members and selecting or making recomendations to the
Board on the selection of individuals nominated for directorships,
with due regard for the benefits of diversity on the Board;
• asesing the independence of the independent non-
executive Directors;
• reviewing the Board diversity policy of the Company (the
“Board Diversity Policy”), as apropriate; and reviewing
the measurable objectives that the Board has set for
implementing such policy, and the progres on achieving the
objectives; and
• making recomendations to the Board on the apointment
or reapointment of Directors and sucesion planing for the
Directors, in particular, the chairman and the chief executives.
During the year ended 31 March 2025, one Nomination Comite
meting was held whereat the Nomination Comite, among
others, (i) asesed the independence of the independent non-
executive Directors; (i) recomended to the Board for consideration
the re-apointment of al the retiring Directors as Directors at the
2024 AGM; (i) reviewed the structure, size and composition of the
Board; and (iv) reviewed the Board Diversity Policy. The atendance
of individual members is set out in the folowing table.
| Name of committee members | Attended/ Eligible to attend | |
|---|---|---|
| 委员会成员姓名 | 已出席╱合资格出席 | |
IBI Group Holdings Limited
2024/2025年度报告
CORPORATE GOVERNANCE REPORT
企业管治报告
提名政策
董事会已采纳提名政策，当中载列甄选、委任及重新
委任董事的程序和准则。于评估及甄选任何董事候选
人时，提名委员会将考虑有关候选人的特点和诚信、
专业资格、技能、知识和经验、独立性、董事会的多
元性、投放足够时间履行董事会成员职务的意愿及适
用于本公司业务的该等其他准则。
董事会成员多元化政策
为达致可持续及均衡发展，本公司视董事会层面日益
多元化为支持其实现策略目标及维持可持续发展的关
键元素。在设计董事会组成时，从多方面考虑董事会
多元性，包括但不限于性别、年龄、文化及教育背景、
种族、专业经验、技能、知识及服务年期。所有董事
会委任均以用人唯才为原则，并于考虑人选时以客观
条件充分顾及董事会成员多元化的裨益。
甄选人选将基于一系列多元化标准，包括但不限于性
别、年龄、文化及教育背景、种族、专业经验、技能、
知识及服务年期，最终视乎其长处及可为董事会带来
的贡献而决定。
Mr. Neil David HowardNeil David Howard先生1/1
Mr. Steven Paul SmithersSteven Paul Smithers先生1/1
Mr. David John KenedyDavid John Kenedy先生1/1
Mr. Robert Peter Andrews
(resigned on 31 December 2024)
Robert Peter Andrews先生
（于二零二四年十二月三十一日辞任）
1/1
Mr. Christopher John BrokeChristopher John Broke先生1/1
Ms. Ka Wai Yeung
(apointed on 31 December 2024)
杨家慧女士
（于二零二四年十二月三十一日获委任）
N/A不适用
Nomination Policy
The Board has adopted a nomination policy which sets out
the procedures and criteria for the selection, apointment and
reapointment of the Directors. In evaluating and selecting any
candidate for directorship, the Nomination Comite shal
consider the candidates’ character and integrity, profesional
qualifications, skils, knowledge and experience, independence,
diversity on the Board, wilingnes to devote adequate time to
discharge duties as a Board member and such other criteria that
are apropriate to the busines of the Company.
Board Diversity Policy
With a view to achieving a sustainable and balanced development,
the Company ses increasing diversity at the Board level as an
esential element in suporting the atainment of its strategic
objectives and its sustainable development. In designing the
Board’s composition, Board diversity has ben considered from a
number of aspects, including but not limited to gender, age, cultural
and educational background, ethnicity, profesional experience,
skils, knowledge and length of service. Al Board apointments
wil be based on meritocracy, and candidates wil be considered
against objective criteria, having due regard for the benefits of
diversity on the Board.
Selection of candidates wil be based on a range of diversity
perspectives, including but not limited to gender, age, cultural and
educational background, ethnicity, profesional experience, skils,
knowledge and length of service. The ultimate decision wil be
based on merit and contribution that the selected candidates wil
bring to the Board.
IBI Group Holdings Limited
Anual Report 2024/2025
CORPORATE GOVERNANCE REPORT
企业管治报告
鉴于性别多元化于董事会组成中的重要性，本公司已
于截至二零二五年三月三十一日止年度内委任一名不
同性别的董事。为进一步确保董事会的长远性别多元
化，日后若有适合人选，董事会将继续寻找机会以增
加女性成员的比例，维持一份具备成为董事会成员质
素的人士的名单，该名单将由提名委员会定期审视，
以培养潜在的董事会成员继任者，促进董事会的性别
多元化。提名委员会将继续审阅董事会成员多元化政
策（如适用），以确保其相关性及有效性，并将向董事
会建议修订（倘有），以供考虑及批准。
董事薪酬政策
本公司已采纳董事薪酬政策，当中载列指引本集团处
理薪酬事宜的一般原则。此薪酬政策旨在提供公平的
市场薪酬水平，以挽留及激励本集团高质素的董事、
高级管理层以及吸引经验丰富的优秀人才监督本集团
的业务及发展。
董事进行证券交易的标准守则
本公司已采纳上市规则附录C3所载之标准守则作为
其进行证券交易的行为守则。经向全体董事作出具体
查询后，全体董事确认，彼等于截至二零二五年三月
三十一日止年度内一直遵守标准守则所载规定交易标准。
外聘核数师及酬金
香港立信德豪会计师事务所有限公司已获委任为本公
司外聘核数师。
截至二零二五年三月三十一日止年度，就审核本集团
全年财务报表支付予香港立信德豪会计师事务所有限
公司的费用为900,000港元（不包括香港立信德豪会计
师事务所有限公司提供非审核服务的开支）。
香港立信德豪会计师事务所有限公司就本集团截至二
零二四年九月三十日止六个月的中期财务业绩所进行
协定程序所收取非审核服务费用约90,000港元。
In recognition of the importance of the gender diversity in the
composition of the Board, the Company has apointed one
Director of diferent gender during the year ended 31 March 2025.
To further ensure gender diversity of the Board in the long run, the
Board wil continue to sek oportunities to increase the proportion
of female members over time as and when suitable candidates are
identified, maintain a list of such individuals who poses qualities
to become the Board members, which wil be reviewed by the
Nomination Comite periodicaly in order to develop a pipeline
of potential sucesors to the Board to promote gender diversity
of the Board. The Nomination Comite wil continue to review
the Board Diversity Policy, as apropriate, to ensure its relevance
and efectivenes, and wil recomend the revisions, if any, to the
Board for consideration and aproval.
Directors Remuneration Policy
The Company has adopted a director remuneration policy, it sets
out the general principles which guide the Group to deal with the
remuneration maters. This remuneration policy aims to provide a fair
market level of remuneration to retain and motivate high quality directors,
senior management of the Group and atract experienced people of
high calibre to overse the busines and development of the Group.
MODEL CODE FOR SECURITIES
TRANSACTIONS BY DIRECTORS
The Company has adopted the Model Code as set out in Apendix
C3 to the Listing Rules as its own code of conduct for securities
transactions. Folowing specific enquires of al the Directors, al
the Directors confirm that they have complied with the required
standards of dealing as set out in the Model Code throughout the
year ended 31 March 2025.
EXTERNAL AUDITOR AND REMUNERATION
BDO Limited is apointed as the external auditor of the Company.
For the year ended 31 March 2025, the fes paid to BDO Limited
for the audit of the anual financial statements of the Group were
HK$900,000 (excluding the expenses on the non-audit service
provided by BDO Limited).
The non-auditing services fes charged by BDO Limited in relation
to the agred-upon procedures performed on the interim financial
results of the Group for the six months ended 30 September 2024
were aproximately HK$90,000.
IBI Group Holdings Limited
2024/2025年度报告
CORPORATE GOVERNANCE REPORT
企业管治报告
问责及审核
董事负责监督编制真实公平地反映本集团于报告期间
的事务状况以及业绩及现金流量的综合财务报表。编
制截至二零二五年三月三十一日止年度的综合财务报
表时，董事已选择适当的会计政策并贯彻应用、作出
审慎而公平合理的判断及估计以及按持续经营基准编
制综合财务报表。概无与可能对本公司持续经营能力
构成重大疑问的事件或状况相关的任何重大不明朗因
素。外聘核数师有关综合财务报表报告责任的声明载
于本报告第107至113页。
内部监控及风险管理
董事会负责维持健全有效的内部监控及风险管理制度，
以保障本集团资产及股东利益，并每年检讨本公司内
部监控及风险管理制度的成效，致力确保内部监控及
风险管理制度充足。董事会深明其对风险管理及内部
监控制度以及每年检讨其有效性的责任。有关制度旨
在管理而非消除未能达致业务目标的风险，且仅会就
避免重大错误陈述或损失作出合理保证而非绝对保证。
本公司将其内部审核职能外判予直接向董事会报告的
外聘顾问。内部审核职能主要对发行人风险管理及内
部监控制度的充足性及有效性进行分析及独立评估，
并至少每年向董事会报告调查结果。
本集团的内部监控制度包含完善组织架构，明确界定
责任及权限。日常部门运作交由个别部门负责，其须
对本身行为及表现承担责任，并在授权范围内处理所
属部门事务，以及落实及严格奉行本公司不时制订的
策略及政策。各部门亦须向董事会汇报部门事务的重
大发展情况，并定期执行董事会制定的政策及策略。
ACOUNTABILITY AND AUDIT
The Directors are responsible for overseing the preparation of the
consolidated financial statements which give a true and fair view
of the state of afairs of the Group and of the results and cash flow
during the reporting period. In preparing the consolidated financial
statements for the year ended 31 March 2025, the Directors
have selected suitable acounting policies and aplied them
consistently, made judgments and estimates that are prudent, fair
and reasonable and prepared the consolidated financial statements
on a going concern basis. There are no material uncertainties
relating to events or conditions that may cast significant doubt on
the Company’s ability to continue as a going concern. A statement
from the external auditors about its reporting responsibilities on the
consolidated financial statements is set out on pages 107 to 113 of
this report.
INTERNAL CONTROLS AND RISK
MANAGEMENT
The Board is responsible for maintaining sound and efective
internal control and risk management systems in order to
safeguard the Group’s asets and Shareholders’ interests and
reviewing the efectivenes of the Company’s internal control and
risk management systems on an anual basis so as to ensure
that internal control and risk management systems in place are
adequate. The Board acknowledges its responsibility for the risk
management and internal control systems and reviewing their
efectivenes on an anual basis. Such systems are designed to
manage rather than eliminate the risk of failure to achieve busines
objectives, and can only provide reasonable but not absolute
asurance against material mistatement or los. The Company
outsourced its internal audit function to an external consultant who
reports directly to the Board. The internal audit function primarily
caries out the analysis and independent apraisal of the adequacy
and efectivenes of the isuer’s risk management and internal
control systems, and reports their findings to the Board on, at least,
an anual basis.
The Group’s internal control system includes a wel-established
organisational structure with clearly defined lines of responsibility
and authority. The day-to-day departmental operations are
entrusted to individual department which is acountable for its
own conduct and performance and is required to operate its own
department’s busines within the scope of the delegated authority
and to implement and strictly adhere to the strategies and policies
set by the Company from time to time. Each department is also
required to kep the Board informed of material developments of
the department’s busines and implementation of the policies and
strategies set by the Board on a regular basis.
IBI Group Holdings Limited
Anual Report 2024/2025
CORPORATE GOVERNANCE REPORT
企业管治报告
截至二零二五年三月三十一日止年度，董事会已检讨
本集团内部监控及风险管理制度的成效，以确保管理
层按照协定程序及标准维持及运作健全制度。有关检
讨涵盖所有重大控制，包括财务、营运及合规控制以
及风险管理职能。董事会尤其考虑本公司会计、内部
审核及财务申报职能的资源、员工资历及经验、培训
计划及预算是否充足。检讨通过与本公司管理层的讨
论以及审核委员会的评估而进行。董事会认为现行内
部监控制度属充足有效，尤其于财务申报及遵守上市
规则方面。
内幕消息
就处理及发放内幕消息的程序及内部监控方面，本公
司严格按照证券及期货条例第XIVA部及上市规则的规
定履行责任。本公司已采纳持续披露合规政策，为董
事及本集团高级职员制定指引及程序，确保本集团内
幕消息平等及时地向公众发放。本公司已制定简易流
程，以就下一个行动步骤提供指引。本公司亦向全体
相关员工传达实施持续披露合规政策，并提供相关培训。
反贪污政策及举报政策
本集团施行反贪污及举报政策，订明本集团绝不容许
任何贿赂、勒索、欺诈及洗黑钱行为。本集团亦严格
遵守香港法例第201章《防止贿赂条例》。
本集团为其员工提供正规举报渠道，让员工于有需要
时提出问题而毋须害怕报复或受到任何负面影响。本
集团员工已透过反贪污印刷材料了解有关举报事项。
During the year ended 31 March 2025, the Board had reviewed
the efectivenes of the internal control and risk management
systems of the Group to ensure that a sound system is maintained
and operated by the management in compliance with the agred
procedures and standards. The review covered al material
controls, including financial, operational and compliance controls
and risk management functions. In particular, the Board considered
the adequacy of resources, staf qualifications and experience,
training programs and budget of the Company’s acounting,
internal audit and financial reporting functions. The review was
made by discusions with the management of the Company and
the asesment conducted by the Audit Comite. The Board
believes that the existing internal control system is adequate and
efective, in particular, for financial reporting and Listing Rules
compliance.
INSIDE INFORMATION
With respect to procedures and internal controls for the handling
and disemination of inside information, the Company takes
seriously of its obligations under Part XIVA of the SFO and the
Listing Rules. The Company has adopted a Continuous Disclosure
Compliance Policy which sets out guidelines and procedures to the
Directors and oficers of the Group to ensure inside information of
the Group is to be diseminated to the public in an equal and timely
maner. A flowchart has ben improvised to provide guidelines
for next action steps. The Company has also comunicated to
al relevant staf regarding the implementation of the Continuous
Disclosure Compliance Policy and the relevant trainings are also
provided.
ANTI-CORUPTION POLICY AND WHISTLE-
BLOWING POLICY
The Group implements an anti-coruption and whistle-blowing
policy that states any bribery, extortion, fraud and money
laundering behaviour wil not be tolerated by the Group. The Group
also strictly adheres to Prevention of Bribery Ordinance (Chapter
201 of the Laws of Hong Kong).
The Group provides its staf with proper whistle-blowing chanels
so that they can raise concerns when neded, without fear of
reprisal or any negative impacts. The Group’s employes have
ben informed through printed anti-coruption material for the
same.
IBI Group Holdings Limited
2024/2025年度报告
CORPORATE GOVERNANCE REPORT
企业管治报告
本集团鼓励其员工发表意见，且绝不会对通过正规举
报渠道提出问题的员工采取任何负面行动。本集团全
力支持员工真诚提出问题，而管理层将讨论并以专
业适当方式处理有关问题。于截至二零二五年三月
三十一日止年度，概无有关贪污的司法案件。
本集团并无发现任何严重违反与防止贿赂、勒索、欺
诈及洗黑钱有关且对本集团构成重大影响的相关法律
及规例的情况。
投资者关系、与股东沟通及股东权利
本公司仍然视股东周年大会为与股东交流的主要平台，
鼓励股东参与会议并就所提呈决议案及本集团运作提
问。组织章程细则允许有权出席及投票的股东委任多
于一名代表代其出席及投票，并规定受委代表毋须为
本公司股东。
本公司已采纳一项股东沟通政策，以确保股东平等和
及时地取得有关本公司的资料，从而让股东以知情的
方式行使其权利，同时积极参与本公司的事务。本公
司已于截至二零二五年三月三十一日止年度检讨股东
沟通政策的执行情况及成效，并认为政策有效。
The Group encourages its employes to voice their opinions and
it wil not take any negative action against staf for voicing out their
concerns through the proper whistle-blowing chanels. The Group
fuly suports its employes to raise concerns in god faith and the
mentioned isues are discused by management and dealt with in
a profesional and apropriate maner. There were no legal cases
regarding coruption during the year ended 31 March 2025.
The Group is not aware of any material non-compliance with the
relevant laws and regulations that have a significant impact on the
Group relating to bribery, extortion, fraud and money laundering.
INVESTOR RELATIONS, COMUNICATION
WITH SHAREHOLDERS AND SHAREHOLDER
RIGHTS
The Company’s anual general meting remains the principal
forum for dialogue with the Shareholders. The Shareholders are
encouraged to participate in the procedings and ask questions
about the resolutions being proposed and the operations of the
Group. The Articles alows a Shareholder entitled to atend and
vote to apoint more than one proxy to atend and vote on behalf
of the Shareholder and also provides that a proxy ned not be a
shareholder of the Company.
The Company has adopted a shareholders’ comunication policy
with the objective of ensuring that the Shareholders wil have equal
and timely aces to information about the Company in order to
enable the Shareholders to exercise their rights in an informed
maner and alow them to engage actively with the Company. The
Company has reviewed the implementation and efectivenes of
the Shareholders’ comunication policy during the year ended
31 March 2025 and concluded that it is efective.
IBI Group Holdings Limited
Anual Report 2024/2025
CORPORATE GOVERNANCE REPORT
企业管治报告
于股东周年大会前向股东发出最少足20个营业日的通
知，就所有其他股东大会向股东发出最少足10个营业
日的通知。
所有于股东大会上提呈的决议案将根据上市规则以投
票方式表决，投票结果将于每次股东大会后登载于本
公司网站及联交所网站。
股东召开股东特别大会的程序
根据组织章程细则第64条，董事会可于其认为适合时
召开股东特别大会。股东特别大会亦可应一名或多名
股东（于要求寄存当日持有不少于本公司有权于股东
大会上投票的实缴股本十分之一）要求而召开。该项要
求须以书面向董事会或公司秘书提呈，以供董事会就
处理该要求内任何指定事务而要求召开股东特别大会。
该大会须于该项要求提交后两个月内举行。倘董事会
于该项要求提交后21日内未能召开该大会，则提出要
求者本人（彼等）可以相同方式召开大会，而本公司须
向提出要求者偿付其因董事会未能召开大会而产生的
所有合理开支。
于股东大会提呈建议的程序
开曼群岛公司法（二零一六年修订本）并无条文允许股
东于股东大会提呈新决议案。然而，有意提呈决议案
的股东可遵循组织章程细则第64条要求召开股东特别
大会并将决议案纳入该大会议程。组织章程细则第64
条的要求及程序载于上文。有关提名董事人选的程序
可参阅本公司网站。
At least 20 clear busines days’ notice for anual general meting
and at least 10 clear busines days’ notice for al other general
metings are given to the Shareholders before the meting.
Al resolutions put forward at general metings wil be voted by
pol pursuant to the Listing Rules and pol results wil be posted on
the websites of the Company and the Stock Exchange after each
general meting.
Procedures for Shareholders to convene an extraordinary
general meting
Pursuant to article 64 of the Articles, the Board may, whenever it
thinks fit, convene an extraordinary general meting. Extraordinary
general metings shal also be convened on the requisition of one or
more Shareholders holding, at the date of deposit of the requisition,
not les than one-tenth of the paid up capital of the Company
having the right of voting at general metings. Such requisition shal
be made in writing to the Board or the company secretary for the
purpose of requiring an extraordinary general meting to be caled
by the Board for the transaction of any busines specified in such
requisition. Such meting shal be held within two months after the
deposit of such requisition. If within 21 days of such deposit, the
Board fails to proced to convene such meting, the requisitionist(s)
himself/herself (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 puting forward proposals at general
meting
There are no provisions alowing Shareholders to propose new
resolutions at the general metings under the Cayman Islands
Companies Law (2016 Revision). However, Shareholders who
wish to propose resolutions may folow article 64 of the Articles
for requisitioning an extraordinary general meting and including a
resolution at such meting. The requirements and procedures of
article 64 of the Articles are set out above. As regards proposing a
person for election as a Director, the procedures are available on
the website of the Company.
IBI Group Holdings Limited
2024/2025年度报告
CORPORATE GOVERNANCE REPORT
企业管治报告
向本公司发出查询的程序及联络资料
股东可随时向本公司董事或管理层提出问题、要求索
取公开资料及提供意见与建议。有关问题、要求及意
见可邮寄至本公司（地址为香港文咸西街18号盘谷银
行大厦3楼）或电邮至ibi@ibi.com.hk 。
股东可将持股相关问题邮寄至本公司的香港股份过户
登记分处卓佳证券登记有限公司（地址为香港金钟夏悫
道16号远东金融中心17楼）或致电(852) 2980-1333。
卓佳证券登记有限公司已获本公司委任处理股东的股
份登记及相关事宜。
宪章文件
截至二零二五年三月三十一日止年度，组织章程细则
并无变动。
本公司的公司秘书及主要联络人
董事可获公司秘书提供服务，以确保董事会程序得到
遵守。本公司的公司秘书为文润华先生。彼现为彦德
企业服务（香港）有限公司董事。彼直接向董事会主席
汇报。本公司的主要企业联络人为本公司董事会主席
兼行政总裁Neil David Howard先生。根据上市规则第
3.29条，文润华先生已于截至二零二五年三月三十一
日止年度接受不少于15小时的相关专业培训。
Procedures for puting enquiries to the Company and
contact details
Shareholders may, at any time, direct questions, request for publicly
available information and provide coments and sugestions to
the Directors or management of the Company. Such questions,
requests and coments can be adresed to the Company by mail
to 3/F, Bangkok Bank Building, 18 Bonham Strand West, Hong
Kong or by email to ibi@ibi.com.hk .
Shareholders should direct their questions about their
shareholdings by mail to the Company’s Hong Kong branch share
registrar, Tricor Investor Services Limited at 17/F., Far East Finance
Centre, 16 Harcourt Road, Admiralty, Hong Kong or by telephone
at (852) 2980-1333, who has ben apointed by the Company to
deal with Shareholders for share registration and related maters.
CONSTITUTIONAL DOCUMENTS
There was no change to the Articles during the year ended 31
March 2025.
COMPANY SECRETARY AND PRIMARY
CONTACT OF THE COMPANY
Directors have aces to the services of the company secretary
to ensure that the Board procedures are folowed. The company
secretary of the Company is Mr. Yun Wah Man. He is curently a
director of In.Corp Corporate Services (HK) Limited. He reports
to the chairman of the Board directly. The primary corporate
contact person at the Company is Mr. Neil David Howard, the
chairman of the Board and chief executive oficer of the Company.
In compliance with Rule 3.29 of the Listing Rules, Mr. Yun Wah
Man has undertaken no les than 15 hours of relevant profesional
training during the year ended 31 March 2025.
IBI Group Holdings Limited
Anual Report 2024/2025
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
Contracting
承建
Building Solutions
建筑解决方案
Strategic Investments
策略投资
Property Investments
物业投资
建筑明天
Building for
tomorow
ABOUT THIS REPORT
This is the Environmental, Social and Governance Report
2024/2025 (“ESG Report”) of IBI Group Holdings Limited
(“IBI”, together with its subsidiaries, colectively refered to as the
“Group”, “we”), covering the period from 1 April 2024 to 31 March
2025 (“reporting period” or “Year”). The report provides an
overview of the Group’s aproach to managing environmental and
social aspects during the Year. This report has ben prepared in
compliance with the ESG Reporting Guide as set out in Apendix
C2 to the Rules Governing the Listing of Securities on the Stock
Exchange of Hong Kong Limited (“HKEX”). Information disclosed
and presented in this ESG Report folows the reporting principles
of materiality, quantitative, balance and consistency set forth by the
HKEX and the report has complied with the “mandatory disclosure
requirements” and “comply or explain” provisions set out in the
ESG Reporting Guide.
Reporting Boundary
This report outlines the Group’s sustainability aproach and
performance in the environmental, social and governance (“ESG”)
aspects. It focuses on our busines operations in Hong Kong,
Macau and Ireland, covering major busineses of contracting,
building solutions, strategic investments and property investments.
关于本报告
此乃IBI Group Holdings Limited（「IBI」连同其附属公
司，统称为「本集团」或「我们」）的二零二四╱二零二五
年度环境、社会及管治报告（「ESG报告」），涵盖期间
由二零二四年四月一日至二零二五年三月三十一日（「报
告期间」或「本年度」）。本报告概述本集团在本年度内
管理环境及社会方面的措施。本报告乃根据香港联合
交易所有限公司（「香港联交所」）证券上市规则附录C2
项下ESG报告指引所规定标准而编制。本ESG报告所
披露及呈报的资料遵循香港交易所订立的重要性、
量化、平衡及一致性报告原则，并且已遵守ESG报告
指引所载的「强制披露规定」及「不遵守就解释」条文。
汇报范围
本报告概述本集团在环境、社会及管治（「ESG」）方面
的可持续措施及表现。报告专注于我们在香港、澳门
及爱尔兰的业务运作，涵盖承建、建筑解决方案、策
略投资及物业投资等主要业务。
IBI Group Holdings Limited
2024/2025年度报告
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
承建
本集团透过附属公司IBI Limited、IBI Projects及IBI
Macau，在香港及澳门提供顶级的室内装修及楼宇翻
新服务。本集团主要以主承建商的身份运营，只负责
项目管理、协调、安全及质量控制。其并无直接参与
实际施工。本集团已成功交付许多领先能源与环境设
计（「LED」）及绿色建筑环境评估法（「BEAM」）Plus
认证的项目。本集团及其缔约方均致力于负责任的施
工实践，包括在可行的情况下进行废物管理及再循环
计划。
Building Solutions
Building Solutions Limited（「BSL」）提供可提升建筑环
境的表现及福祉的产品及服务，为用者创造现代、健
康及高性能的空间。
策略投资
本集团成立策略投资分部是为了有效利用其可用资金，
扩大其地域覆盖范围并进入新的市场领域。
物业投资
本集团的物业投资分部专注于对实体物业进行直接投
资。随著对社会负责的建筑及运营日益受到重视，本
集团利用其丰富的缔约经验，对所收购的资产进行提
升及升级。该等装修包括但不限于安装节能灯、供暖
及制冷系统，该等系统能降低能耗，并改善租户及访
客的环境。
持份者的反馈
本集团重视持份者的反馈及意见。如欲提供反馈
或分享 阁下的观点，请联络我们，电邮地址为
ESG@ibi.com.hk 。
Contracting
Through its subsidiaries — IBI Limited, IBI Projects, and IBI
Macau, the Group ofers top-tier interior fiting-out and building
refurbishment services in Hong Kong and Macau. Operating
primarily as the main contractor, the Group only overses project
management, cordination, safety and quality control. It does
not engage directly in the physical construction work. The Group
has sucesfuly delivered numerous projects under Leadership
in Energy and Environmental Design (“LED”) and Building
Environmental Asesment Method (“BEAM”) Plus certifications.
Both the Group and its contracting parties are comited to
responsible construction practices, including waste management
and recycling initiatives wherever feasible.
Building Solutions
Building Solutions Limited (“BSL”) provides products and services
designed to enhance the performance and wel-being of built
environments, creating modern, healthy, and high-performing
spaces for ocupants.
Strategic Investment
The Group has established a strategic investments division to
eficiently utilise its available capital, expand its geographical reach,
and enter new markets.
Property Investments
The property investment division of the Group focuses on making
direct investments in physical properties. With a growing emphasis
on socialy responsible building and operations, the Group
leverages its extensive contracting experience to enhance and
upgrade acquired asets. These improvements include, but are not
limited to, instaling energy-eficient lighting, heating and coling
systems, which reduce energy consumption and enhance the
environment for tenants and visitors.
Stakeholder Fedback
The Group values fedback and opinions from stakeholders. If you
would like to provide fedback or share your views, please contact
us at ESG@ibi.com.hk .
IBI Group Holdings Limited
Anual Report 2024/2025
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
主席寄语
各位持份者：
本人欣然代表董事会提呈IBI Group Holdings Limited连
同其附属公司截至二零二五年三月三十一日止年度的
环境、社会及管治报告。自一九七年起，IBI一直致
力于创造积极影响。通过将环境、社会及管治考量纳
入我们的业务实践中，我们致力于在创造长期价值的
同时，保障后代的福祉。
本集团的环境管理系统已取得ISO 14001：2015认证，
并在指导我们尽量减少环境足迹的努力中发挥重要作
用。为应对日益关注的气候变化，我们于本年度加强
对透明度和问责制的承诺。通过披露参考IFRS S2框架
的相关资料，我们确保我们的气候相关工作清晰且可
计量。为配合我们对可持续发展的承诺，我们积极支
援客户取得LED及BEAM Plus认证。在我们大部分的
翻新项目中，我们优先使用可持续材料，例如竹子及
低挥发性有机化合物(VOC)油漆及黏合剂。
我们对履行企业社会责任的承诺不仅限于环境考量，
而且包括我们员工及我们营运所在社区的福祉与安全。
我们通过全面的安全培训及发展计划优先考虑员工的
福利。此外，我们继续透过捐款及教育支援计划回馈
社会，目标为培育人才并赋权弱势社群。
在我们回顾本年度的成果时，我们亦坚定地承诺将在
业务各方面推动可持续发展。展望未来，我们将继续
创新、合作，并以身作则，将ESG原则融入我们的运
营中。本人谨借此机会向所有同事、合作伙伴及持份
者表达由衷的感谢，感激大家对我们共同追求可持续
未来的坚定支持和承诺。
代表董事会
主席
Neil David Howard
香港，二零二五年六月二十六日
MESAGE FROM THE CHAIRMAN
Dear Stakeholders,
On behalf of the Board of Directors, I am pleased to present
the Environmental, Social and Governance Report of IBI Group
Holdings Limited and its subsidiaries for the year ended 31 March
2025. IBI has ben comited to creating positive impacts since
1997. By embeding ESG considerations into our busines
practices, we strive to drive long-term value creation while
safeguarding the wel-being of future generations.
Our Environmental Management System, certified under ISO
14001:2015, remains instrumental in guiding our eforts to minimise
our environmental fotprint. In response to the growing concern
over climate change, we have enhanced our comitment to
transparency and acountability this year. By disclosing relevant
information referencing the IFRS S2 framework, we ensure that
our climate-related eforts are clear and measurable. In line with
our comitment to sustainable development, we actively suport
our clients in obtaining LED and BEAM Plus certifications. In
the majority of our renovation projects, we prioritise the use of
sustainable materials such as bambo and low VOC (Volatile
Organic Compound) paint and adhesives.
Our comitment to fulfil our corporate social responsibility goes
beyond environmental considerations, to the wel-being and safety
of our employes and the comunities in which we operate. We
prioritise the welfare of our workforce through comprehensive safety
training and development programes. In adition, we continue
to give back to society through donations and educational suport
initiatives, aimed at nurturing talent and empowering marginalised
comunities.
Whilst we reflect on our achievements during this year, we also
asert that we are steadfast in our comitment to advancing
sustainability acros al facets of our busines. Loking ahead,
we wil continue to inovate, colaborate and lead by example
in integrating ESG principles into our operations. I would like to
take this oportunity to expres my heartfelt gratitude to al our
coleagues, partners and stakeholders for their unwavering suport
and comitment to our shared vision of a sustainable future.
On behalf of the Board
Neil David Howard
Chairman
Hong Kong, 26 June 2025
IBI Group Holdings Limited
2024/2025年度报告
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
可持续管治
董事会声明
本集团深知保护环境是重大的社会关注。为确保有效
监管ESG事宜，董事会积极参与制定及落实ESG策略
以及监察风险管理。董事会定期检讨在ESG相关目标
和指标上的进展，通过将相关方面的进展与设定的目
标进行比较进行评估。当目标和指标大致达成时，目
标和指标会上调以实现持续改进。
为规管本集团运营的各方面并支援董事会，三个董事
委员会已告成立，分别为审核委员会、薪酬委员会及
提名委员会。亦已设立一个ESG工作小组解决ESG相
关问题。ESG工作小组由营运总监（「营运总监」）兼执
行董事、财务经理、高级项目经理、健康与安全经理、
环境经理及可持续发展协调员组成。工作小组的主要
职能和职责如下：
- ；
- ；
- ，以确保遵
守法律及监管规定；
- ，并适时向董事会
提出建议，以进一步提升本公司的ESG表现；
- ，以评估对本集团
的重要可持续性问题；
- （「关键绩效指标」）数据；
- ；及
- ，以使工作小组有能力行使董事会
赋予其责任及职能。
SUSTAINABILITY GOVERNANCE
Board Statement
The Group recognises that environmental protection is a great
social concern. To ensure efective oversight of ESG isues, the
Board is actively engaged in formulating and implementing ESG
strategy and overseing risk management. The Board regularly
reviews the progres made against ESG-related goals and targets
by comparing the progres made in related aspects with the set
targets. When the goals and targets are generaly met, they are
revised upwards to achieve continual improvement.
To govern various aspects of the Group’s operations and to
suport the Board, thre Board comites have ben set up,
namely, the Audit Comite, Remuneration Comite and
Nomination Comite. An ESG working group is also in place to
resolve ESG-related isues. The ESG working group comprises the
Chief Operating Oficer (“CO”) and the Executive Director, Finance
Manager, Senior Project Manager, Health and Safety Manager,
Environmental Manager and the Sustainability Cordinator. The
main functions and duties of the working group are as folows:
- ;
• Facilitate the adoption of ESG policies throughout the
Company;
- ’s ESG policies and
practices to ensure compliance with legal and regulatory
requirements;
• Monitor and respond to emerging ESG isues and make
recomendations to the Board where apropriate to further
the Company’s ESG performance;
• Conduct internal and external materiality asesments to
ases material sustainability isues to the Group;
- “KPIs”) data;
- ’s consideration
and aproval; and
• Take suitable actions to enable the Working Group to
discharge responsibilities and functions confered on it by the
Board.
IBI Group Holdings Limited
Anual Report 2024/2025
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
可持续管理方针
本集团已制定环境政策以及环境、社会及管治报告政
策，该等政策作为框架，表明我们对可持续发展的坚
定承诺。该等政策为我们的员工提供明确指引，以制
定及实施符合本集团可持续发展愿景的可持续发展计划。
于整个年度内，ESG小组积极实行多方面的方针，包
括检讨现有政策、按需要更新政策，以及建立基线及
关键绩效指标。此举确保本集团在不断变化的ESG准
则及最佳实践中保持一致，同时有效地计量并监察可
持续发展目标的进展。
持份者参与及重要性
本集团相信，与持份者保持沟通能更好地了解其对可
持续发展表现、重大议题识别及可持续措施成效的期
望。为达成此目标，本集团已建立多种沟通渠道，并
定期与不同的持份者群体进行交流以收集反馈意见。
该等持份者包括员工、分包商、供应商、客户、投资
者、政府机构及当地社区。
Sustainability Management Aproach
The Group has put in place Environmental Policy and Environmental,
Social and Government Reporting Policy, both of which serve as
frameworks to articulate our unwavering dedication to sustainable
development. These policies provide clear guidance to our
employes on developing and implementing sustainability initiatives
that align with the Group’s vision for sustainability.
Throughout the year, the ESG group actively implemented a
multifaceted aproach, which included reviewing existing policies,
updating them as necesary, and establishing baselines and KPIs.
This ensures that the Group remains aligned with evolving ESG
standards and best practices while efectively measuring and
monitoring progres towards sustainability goals.
Stakeholder Engagement and Materiality
The Group believes that maintaining comunication with
stakeholders alows it to beter understand their expectations
regarding its sustainability performance, identification of material
isues, and the efectivenes of its sustainability measures. To
achieve this, the Group has established various comunication
chanels and regularly engages with diferent stakeholder groups
to gather fedback. These stakeholders include employes,
subcontractors, supliers, clients, investors, government agencies
and local comunities.
| Stakeholder group | Engagement method |
|---|---|
| 持份者群体 | 参与方法 |
IBI Group Holdings Limited
2024/2025年度报告
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
Employes
员工
◆ Intranet and internal newsleter
内联网及内部通讯
◆ Surveys
调查
◆ Training sesions
培训课程
◆ Yearly review
年度检讨
Subcontractors
分包商
◆ Performance evaluation
表现评估
◆ Anual asesment
年度评估
◆ Regular safety metings
定期安全会议
Supliers
供应商
◆ Surveys and metings
调查及会议
◆ Screning asesment
筛选评估
◆ Interviews
面谈
Clients
客户
◆ Customer service
客户服务
◆ Customer satisfaction surveys
客户满意度调查
◆ Social media platforms
社交媒体平台
◆ Company website
公司网站
Investors
投资者
◆ Anual and interim reports
年度及中期报告
◆ ESG reports
ESG报告
◆ Company websites
公司网站
Government Agencies
政府机构
◆ Metings
会议
◆ Conferences and seminars
会议及研讨会
◆ Leter/email corespondence
函件╱电邮往来
Local Comunities
当地社区
◆ Donations
捐款
◆ Sponsorships
赞助
IBI Group Holdings Limited
Anual Report 2024/2025
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
重要性评估
我们近期委聘独立顾问，协助提升持份者参与度并告
知ESG议题的重要性，确保资源有效分配于创造价值、
降低风险及符合持份者期望的措施。我们进行调查收
集上述持份者群体的反馈。参与调查的受访者评估22
个与ESG相关事宜对其本身及本集团的重要性。重要
性评估乃透过识别、参与、优先排序及验证的程序进行。
评估结果于下文的矩阵中以视觉方式展示，旨在说明
不同ESG议题对本集团及其持份者的重要性，并分为
第1至第3级，第1级代表本集团的重要议题。于本年
度内，我们识别8个重要议题，概述如下。作为ESG报
告的重要部分，董事会已审阅并批准重要性评估的结果。
Materiality Asesment
Recently, we engaged an independent consultant to help enhance
stakeholder engagement and inform materiality of ESG topics to
ensure efective resource alocation for initiatives that create value,
mitigate risks and align with stakeholder expectations. A survey
was conducted to garner fedback from the above stakeholder
groups. Participants in the survey evaluated the importance of 22
ESG-related isues, for themselves and the Group. The materiality
asesment was conducted through a proces of identification,
engagement, prioritisation and validation.
Prioritisation
优先排序
Validation
验证
Engagement
参与
Engaged stakeholders
through a questionaire
survey to understand their
views on the shortlisted
topics.
通过问卷调查与持份者进
行沟通，以了解其对备选
议题的意见。
Prioritised material topics
by analysing
the results of the
questionaire survey
通过分析问卷调查结果将
重要议题优先排序
Validated the findings by
sharing and discusing
the results with
management and ESG
working group
通过与管理层以及环境、
社会及管治工作小组分享
及讨论结果验证结果
Identification
识别
Identified potentialy
material sustainability
topics with reference to
industry — specific ESG
isues identified by rating
agencies and regulatory
requirements.
识别潜在的重要可持续发
展议题，并参考评级机构
识别的行业特定ESG事宜
及监管规定。
The asesment outcome is visualy depicted in the matrix below
to ilustrate the importance of diferent ESG topics to both the
Group and its stakeholders, categorised from Tier 1 to 3, with Tier
1 representing material topics for the Group. During the Year, we
identified 8 material topics, sumarised as below. As an integral
part of the ESG Report, the Board has reviewed and aproved the
results of the materiality asesment.
IBI Group Holdings Limited
2024/2025年度报告
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
EnvironmentalOperation Management
Employment &
Labour Practices
Corporate GovernanceCorporate Governance
ComunityComunity
I
m
p
o
r
t
a
n
c
e
t
o
s
t
a
k
e
h
o
l
d
e
r
s
对
持
份
者
的
重
要
性
Importance to the Group
对本集团的重要性
H
ig
h
High
高
高
环境
雇佣及
劳工常规
运营管理
企业管治企业管治
社区社区
Tier 1：Material Topics
第1级：重要议题
4 Waste Management
废物管理
10 Workplace Health and Safety
工作环境的健康与安全
11 Human Capital Development
人力资本发展
16 Quality Asurance
品质保证
17 Customer Satisfaction
客户满意度
19 Anti-coruption
反贪污
20 Corporate Governance
企业管治
21 Busines Ethics and Integrity
商业道德及诚信
Tier 2：Moderate Topics
第2级：中等议题
3 Sustainable Resource Use
可持续资源使用
5 Clean Technologies
清洁技术
6 Reducing Environmental Impact
减轻环境影响
8 Employe Wel-being
员工福祉
9 Diversity and Inclusion
多元化及包容
12 Prevention of Child Labour and
Forced Labour
防止童工及强制劳工
13 Suply Chain Management
供应链管理
14 Sustainable and Ethical Procurement
可持续及道德采购
15 Product and Service Responsibility
产品及服务责任
16 Privacy and Data Security
私隐及资料安全
Tier 3：Monitored Topics
第3级：受监察议题
1 Grenhouse Gas Emisions and
Management
排放及管理温室气体
2 Climate Change Mitigation
and Adaptation
应对及适应气候变化
7 Contribution to Gren Buildings
对绿色建筑的贡献
22 Comunity Engagement
社区参与
IBI Group Holdings Limited
Anual Report 2024/2025
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
我们的环境
本集团致力保护环境，认真提升员工的环保意识，并
实施措施防止可能因建筑活动而产生的污染。我们已
设有环保政策、环保及废物管理计划、环境管理系统
及环保最佳常规程序，以确保营运实践符合监管规定
及行业的最新发展。本集团的环境管理体系已取得
ISO 14001：2015认证。IBI致力于遵守所有相关的环
境法例及规例，并不断提升环境表现。根据我们的环
保政策，分包商亦需遵守管理制度，并在其运营中实
施环保措施。
应付气候变化
气候变化是迫切的全球问题，尤其是在如香港一般的
沿海地区。于二零二一年，香港政府推出香港气候行
动蓝图2050，目标是在二零五零年前达至碳中和，此
蓝图与巴黎协定的精神一致。我们今年制定气候变化
政策，以回应并贡献于该等目标。
IBI知悉在业务策略及日常运营中纳入减碳的迫切需要。
经参考国际可持续发展准则理事会（「国际可持续发展
准则理事会」）于二零二三年六月发布的国际财务报告
准则（「国际财务报告准则」）S2框架后，我们的气候相
关披露报告遵循管治、策略、风险管理以及指标及目
标的架构。
OUR ENVIRONMENT
The Group is comited to protecting the environment,
conscientiously promoting environmental awarenes amongst its
staf and implementing measures to prevent polution, which may
arise from its construction activities. Our Environmental Policy,
Environmental and Waste Management Plan, Environmental
Management System and Environmental Best Practice Procedure
are in place to kep operating practices aligned with regulatory
requirements and the latest developments in the industry. The
Group’s Environmental Management System is certified under
ISO 14001:2015. IBI is comited to complying with al relevant
environmental legislation and regulations and continualy improving
its environmental performance. As outlined in our environmental
policy, subcontractors are also required to comply with the
management system and to implement environmental protection
measures in their operations.
Tackling Climate Change
Climate change is a presing global isue, particularly in coastal
regions such as Hong Kong. In 2021, the Hong Kong government
launched Hong Kong’s Climate Action Plan 2050, which sets the
target to achieve carbon neutrality before 2050, in alignment with
the spirit of the Paris Agrement. We have developed a Climate
Change Policy this year to respond and contribute to these goals.
IBI is aware of the presing ned to incorporate decarbonisation in
its busines strategies and daily operations. Taking reference from
the framework of the International Financial Reporting Standards
(“IFRS”) S2, published by the International Sustainability Standards
Board (“ISB”) in June 2023, our reporting of climate-related
disclosures folows the architecture of governance, strategy, risk
management and metrics and targets.
| Type | Risk | Description | Potential Business Impact |
|---|---|---|---|
| 类型 | 风险 | 描述 | 潜在业务影响 |
IBI Group Holdings Limited
2024/2025年度报告
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
管治
ESG工作小组在将气候适应及韧性策略纳入我们项目
的设计及开发中发挥关键作用，确保该等策略能够承
受气候变化的影响。工作小组会向董事会报告定期进
度更新、绩效指标及已识别的气候相关问题，以确保
我们的气候相关计划、行动及绩效按原定进度进行。
董事会监察审查及批准气候策略及政策，并监督气候
计划的发展及表现。
策略
为了解气候变化如何影响我们的运营和投资，以及运
用潜在的裨益，今年我们已识别具体的气候相关风险
和机会。我们认识到应对气候变化挑战的责任，并致
力于减轻我们对环境的影响。
Governance
The ESG working group plays a critical role in incorporating
climate adaptation and resilience strategies into the design and
development of our projects, ensuring they can withstand the
impacts of climate change. Regular progres updates, performance
metrics, and identified climate-related isues are reported to the
Board to ensure our climate-related plans, actions and performance
are on track. The Board overses the review and aproval of
climate strategies and policies, as wel as the supervision of the
development and performance of climate initiatives.
Strategy
To understand how climate change impacts our operations and
investments, as wel as leverage potential benefits, this year, we
have identified specific climate-related risks and oportunities. We
recognise our responsibility to adres the chalenges posed by
climate change and are comited to mitigating our environmental
impact.
P
h
y
s
i
c
a
l
实
体
A
c
u
t
e
急
性
Extreme Weather EventsIncreased frequency and severity of
storms, flods, and huricanes
Damage to construction sites, buildings
and properties leads to higher repair
costs and project delays.
极端天气事件风暴、洪水及飓风的频率及严重性
增加
建筑地盘、建筑物及物业的损坏导致
更高昂的维修成本及项目延误。
C
h
r
o
n
i
c
慢
性
Rising Sea LevelsProperties and investments in coastal
areas are at risk of floding and
erosion and rainstorms
Reducing property values and increasing
insurance costs.
海平面上升沿海地区的物业和投资面临洪水、
侵蚀和暴雨的风险
降低物业价值及增加保险成本。
Temperature IncreasesHigher temperatures can afect
construction schedules, worker health
and productivity
Increased coling costs for buildings
温度上升温度上升可影响施工进度、工人健
康及生产力
建筑物的冷却成本增加
| Type | Risk | Description | Potential Business Impact |
|---|---|---|---|
| 类型 | 风险 | 描述 | 潜在业务影响 |
| Opportunities | Description | Potential Business Impact |
|---|---|---|
| 机遇 | 描述 | 潜在业务影响 |
IBI Group Holdings Limited
Anual Report 2024/2025
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
T
r
a
n
s
i
t
i
o
n
过
渡
Stricter Building Codes
and Standards
Tightening environmental regulations
due to climate change
Increased compliance costs, potential
fines or penalties for non-compliance
更严格的建筑法规和标
准
因气候变化而收紧的环保法规合规成本增加、潜在罚款或因不合规
而面临的罚则
Carbon Emision Rights
Pricing
Introduction of carbon taxes or cap-
and-trade systems
Increase operational costs, especialy in
energy-intensive construction activities
碳排放权定价碳税或限额交易系统简介营运成本增加，尤其是在能源密集型
的建筑活动中
Shifts in Market DemandGrowing preference for sustainable
and energy-eficient buildings
Significant investment in new
technologies and materials required to
remain competitive.
市场需求变化对可持续性及节能建筑的偏好日益
增加
为保持竞争力，需要在新技术和材料
方面进行大量投资。
Stakeholder ExpectationsFailure to adopt sustainable practices
can harm IBI’s reputation among
clients, investors, and the general
public
Los of busines and investment.
持份者期望未能采用可持续常规可能会损害IBI
在客户、投资者及普罗大众中的声
誉
业务及投资亏损。
Energy Eficiency
Improvements
Implementing energy-eficient
technologies in buildings and
construction proceses
Reduced operational costs and improved margins.
能效提高在建筑及施工过程中实施节能技术降低营运成本并提高利润率。
Sustainable MaterialsUsing sustainable and recycled
materials
Apeal to environmentaly conscious clients and investors.
可持续材料使用可持续及回收材料吸引环保意识强的客户及投资者。
Gren Building SolutionsDeveloping expertise in gren
building certifications (e.g., LED,
BEAM)
Open new revenue streams and diferentiate IBI from
competitors.
绿色建筑解决方案发展绿色建筑认证（例如LED、
BEAM）的专业知识
开拓新收入来源，并使IBI有别于竞争对手。
Sustainable Property
Investments
Focusing on acquiring and
developing properties that met high
environmental standards
Enhance aset value and apeal to ESG-focused investors
可持续物业投资专注于收购及开发符合高环保准则
的物业
提升资产价值并吸引注重ESG的投资者
| GHG emissions and intensity | Unit | 2025 | 2024 | |
|---|---|---|---|---|
| 温室气体排放及强度 | 单位 | 二零二五年 | 二零二四年 | |
| 0.00 |
|---|
| 38.37 |
| 0.48 |
| 38.85 |
| 0.00 |
| 0.42 |
IBI Group Holdings Limited
2024/2025年度报告
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
风险管理
本集团定期重新评估与气候相关的风险和机遇，以确
保全面了解该等不断变化的挑战，并确定是否需要调
整我们的风险承受能力。我们已将该等考量纳入办公
地点选择过程中，并维持足够的保险范围以应对潜在
影响。
指标及目标
温室气体排放
本集团致力于控制其排放量。由于我们的业务性质，
我们并不产生直接排放。我们的主要排放来源属间接，
具体来说，为办公室及项目地盘所用电力（范畴二）及
弃置于堆填区的废纸（范畴三）。在本年度，温室气体
（「温室气体」）总排放量为38.85吨二氧化碳当量（「吨
二氧化碳当量」）。
Risk Management
The Group regularly reaseses climate-related risks and
oportunities to ensure a thorough understanding of these evolving
chalenges and to determine if adjustments to our risk apetite are
necesary. We have incorporated these considerations into our
ofice location selection proces and maintain adequate insurance
coverage to adres potential impacts.
Metrics and Targets
Grenhouse Gas Emisions
The Group is comited to keping its emisions under check. Due
to the nature of our busines, we do not produce direct emisions.
Our primary sources of emisions are indirect, specificaly, electricity
used (Scope 2) and paper waste from our ofices and project sites
that are disposed of in landfils (Scope 3). During the Year, total
grenhouse gas emisions (“GHG”) were 38.85 tones of CO
equivalent (“tCO
e”).
Scope 1 — Direct Emisions范畴一 — 直接排放物tCO
e
吨二氧化碳当量0.00
Scope 2 — Indirect Emisions范畴二 — 间接排放物tCO
e
吨二氧化碳当量45.05
Scope 3 — Paper waste
disposed at landfils
范畴三 — 弃置于堆填区
的废纸
tCO
e
吨二氧化碳当量7.30
Total GHG emision
温室气体总排放量
tCO
e
吨二氧化碳当量52.35
Total emisions per unit flor area按单位楼面积计算的
总排放量
tCO
e/sq. ft
吨二氧化碳当量╱
平方尺0.01
Total emisions per employe按每名员工计算的总
排放量
tCO
e/employe
吨二氧化碳当量╱
员工0.53
The guidance for reporting on GHG emisions set out above is based on
“How to prepare an ESG Report — Apendix 2: Reporting Guidance on
Environmental KPIs” isued by the HKEX and “Sustainability Report 2024”
isued by HK Electric Investment Limited.
上述有关温室气体排放的报告指引乃根据香港联交所发布
的《如何编制ESG报告 — 附录二：环境关键绩效指标汇报
指引》及港灯电力投资有限公司发布的《二零二四年可持续
发展报告》而制定。
| Energy consumption and intensity | Unit | 2025 | 2024 |
|---|---|---|---|
| 能源消耗及强度 | 单位 | 二零二五年 | 二零二四年 |
| 63,944 |
|---|
| 7.24 |
| 688 |
IBI Group Holdings Limited
Anual Report 2024/2025
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
本集团已实施环境政策以及环境及废物管理计划，以
尽量减少运营对环境的影响。我们分包商的直接排放
主要涉及我们客户提供的地盘用电。因此，该等排放
并无被本集团记录。IBI致力于为香港气候行动蓝图
2050作出贡献，并遵守适用于香港特别行政区的所有
现行环保法例和规定，作为减少温室气体排放目标的
一部分。
能源消耗
报告期内，本集团的总能源消耗为63,944千瓦时，全
部来自用电。下表载列本年度的消耗数据。
本集团致力于减少能源消耗，并已设定以下排放和资
源效率目标。
于本年度，我们在各方面采取多项专注措施提升能源
效率。
The Group has implemented an Environmental Policy and an
Environmental and Waste Management Plan to minimise the
environmental impact of its operations. Direct emisions from our
sub-contractors primarily involve on-site electricity usage, which
is suplied by our customers. Therefore, these emisions are not
recorded by the Group. IBI is comited to contributing to Hong
Kong’s Climate Action Plan 2050 and complies with al curent
environmental legislation and regulations aplicable in the Special
Administrative Region of Hong Kong as part of the target to
mitigate grenhouse gas emisions.
Energy Consumption
During the reporting period, the total energy consumption of the
Group was 63,944 kWh, arising entirely from electricity usage. The
consumption data during the year are as shown in the folowing
table.
Total Energy Consumption总能源消耗kWh
千瓦时66,248
Total Energy Consumption/per flor
area
按楼面积计算的总能源
消耗
kWh/sq. ft
千瓦时╱平方尺7.50
Total Energy Consumption/per
employe
每名员工的总能源消耗kWh/employe
千瓦时╱员工669
The Group is comited to reducing energy consumption and has
set the folowing emision and resource eficiency targets.
Reduce electricity usage in the ofice
and on sites by
not les than 3%
办公室及地盘用电量减少
不低于3%
Reduce paper consumption in the
ofice and on-site by a minimum of 3%
办公室及地盘的纸张消耗量
减少最少3%
Reduce usage of protective materials
减少防护材料的使用
During the Year, we have taken several focused initiatives acros
various areas to enhance energy eficiency.
IBI Group Holdings Limited
2024/2025年度报告
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
节能照明
我们已在总部升级为节能LED灯泡，并在日间利用窗
户和天窗的自然光。此外，我们的照明系统定期进行
维护以确保最佳性能，并且我们已安装可调光灯和使
用传感器，以根据房间使用情况调整照明，从而减少
不必要的能源使用。
节能电器
就暖气、通风及空调(HVAC)而言，我们会调整系统运
行时间以配合使用模式，并利用中央系统仅在正常办
公时间内运行。我们亦会将书桌放置在相对于空调设
备的策略性位置，以优化效率。
除了照明和暖通空调系统外，我们积极通过升级电器
追求节能，将旧电器更换为节能型号，以尽量减少电
力消耗。此外，我们优先考虑员工教育及行为改变，
鼓励员工关闭空置房间的灯光并调整恒温器设定以节
省能源。
能源审计及监察
为确保持续改进，我们进行定期能源审计，以识别提
升效率的范畴，并密切监察能源使用情况，以追踪我
们的节能目标进度。此外，我们优先进行建筑物维修，
以确保所有系统（包括冷暖设备和照明）均获得妥善保
养，以达到最佳效率。
员工参与
在我们的节能工作中，员工参与发挥至关重要作用。
我们积极让员工参与节能计划，并通过提醒和提示强
化节能习惯，例如在电灯开关附近贴上贴纸，并通过
电子邮件和内联网定期发送通讯。
Energy-Eficient Lighting
We have upgraded to energy-eficient LED bulbs at our head ofice
and also make use of natural light from windows and skylights
during daylight hours. Furthermore, our lighting systems undergo
regular maintenance to ensure optimal performance, and we have
instaled dimable lights and ocupancy sensors to adjust lighting
based on rom ocupancy, thereby reducing unecesary energy
usage.
Energy-Eficient Apliances
For heating, ventilation, and air conditioning (HVAC), we adjust
system operating hours to match ocupancy paterns and leverage
a centralised system that operates only during normal ofice hours.
We also place desks at strategicaly determined points, relative to
air-conditioning units, to optimise eficiency.
In adition to lighting and HVAC, we actively pursue energy savings
through apliance upgrades, replacing old apliances with energy-
eficient models to minimise electricity consumption. Moreover,
we prioritise employe education and behavioural changes,
encouraging practices such as turning of lights in unocupied
roms and adjusting thermostat setings to conserve energy.
Energy Audits and Monitoring
To ensure continuous improvement, we conduct regular energy
audits to identify areas for eficiency enhancement and closely
monitor energy usage to track progres toward our energy-saving
goals. Aditionaly, we prioritise building maintenance to ensure
that al systems, including heating, coling, and lighting, are wel-
maintained for optimal eficiency.
Employe Engagement
Employe engagement plays a crucial role in our energy-saving
eforts. We actively involve employes in energy-saving initiatives
and reinforce energy-saving habits through reminders and prompts,
such as using stickers near light switches and sending regular
comunications via email and intranet.
IBI Group Holdings Limited
Anual Report 2024/2025
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
管理废物
作为其重要议题之一，本集团已设有适用于所有运营
及地盘的健全废物管理计划。废物管理计划主要通过
专注于以下四个原则控制日常工作活动，该等原则包
括避免、减少、回收与重用及处置。
在合约前阶段，我们进行全面评估，以识别在维修或
项目期间可能产生的废物种类和数量，当中包括计划
在地盘内暂时储存各类废物，以促进高效的收集和分
类过程。此外，我们制定详细计划处理及处置已识别
废物，确保符合相关法规及环保准则。我们实施严格
控制措施管理采购物料的数量和质量，尽量降低过度
采购和库存过多的风险。
作为我们对可持续发展承诺的一部分，我们于处置废
物前优先进行分类以便回收。我们的废物管理计划确
保处置化学废物全面符合规定，以减低任何潜在的环
境风险。建筑废物根据废物处置（处置建筑废物收费）
规例进行严格管理。建筑废物会被送往符合监管规定
的公众堆填设施、分类设施及堆填区。当分包场外废
物处置时，我们谨慎选择有信誉的废物处置公司，并
保留详细记录，包括运输票据，以确保遵循透明和负
责任的废物管理常规。我们已开发系统记录所处置不
同废物的数量，并每月向相关方提供废物管理报告。
Waste Management
As one of its material topics, the Group has a robust waste
management plan aplied to al operations and sites. Our waste
management plan mainly controls daily work activities by focusing
on the folowing four principles, which are Avoidance, Reduction,
Recycling & Reusing and Disposal.
In the pre-contract phase, we conduct a comprehensive
asesment to identify the types and quantities of waste that
may be generated during the maintenance or project period. This
includes planing for temporary storage of various waste types
on-site to facilitate eficient colection and sorting proceses.
Aditionaly, we develop detailed plans for the handling and disposal
of identified waste, ensuring compliance with relevant regulations
and environmental standards. Strict controls are implemented to
manage the quantity and quality of materials purchased, minimising
the risk of over-purchasing and exces stocking.
We prioritise waste sorting for recycling purposes prior to
disposal, as a part of our comitment to sustainability. Our waste
management plan ensures that chemical waste is disposed of in ful
compliance with regulations, mitigating any potential environmental
risks. Construction waste is diligently managed in acordance
with the Waste Disposal (Charges for Disposal of Construction
Waste) Regulation. It is sent to public fil facilities, sorting facilities,
and landfils that met regulatory requirements. When outsourcing
waste disposal of-site, we carefuly select reputable waste disposal
companies and maintain detailed records, including trip tickets, to
ensure transparent and acountable waste management practices
are folowed. A system is developed to record the quantities of
diferent wastes that are disposed of and a waste management
report is provided to concerned parties on a monthly basis.
| Type of waste | Unit | 2025 | 2024 | |
|---|---|---|---|---|
| 废物种类 | 单位 | 二零二五年 | 二零二四年 | |
| 1,020.50 |
|---|
| 643.70 |
| 1.12 |
| 1.02 |
| 1,664.30 |
| 87.59 |
| 5.03 |
IBI Group Holdings Limited
2024/2025年度报告
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
本集团亦致力提高对建筑废料回收惯例的意识，并在
运营中推广可持续发展的计划，当中包括使用环保清
洁产品以减少对环境的影响，并鼓励地盘团队共乘汽
车进行实地考察及会议，作为减少碳足迹的积极措施。
此外，我们正积极探索技术，以通过场外预制完成部
分尽量减少产生建筑废物。
产生的无害废物总量减少乃归因于年内项目数量普遍
减少所致。
本集团并无发现任何与废气及温室气体排放、向水及
土地的排污以及有害废物的产生有关且对其构成重大
影响的事宜严重违反相关法律及规例。
用水
由于业务性质使然，本集团于取得水源上并无发现任
何问题。耗水仅限于办公室用水，有关用水由物业
主供应，而场地用水由客户提供。因此，用水被视为
对本集团业务营运的影响甚微。
本集团计划将办公室茶水间的水龙头升级至WELS（水
效标签及标准）一级标准，以促进节水并提高用水效
率。本集团亦鼓励员工使用过滤饮用水龙头的水替代
瓶装水。
The Group is also comited to enhancing awarenes of
construction waste recycling practices and promoting sustainable
initiatives throughout our operations. This includes utilising
gren cleaning products to reduce environmental impact and
encouraging site teams to carpol for site visits and metings as a
proactive measure to mitigate our carbon fotprint. In adition, we
are actively exploring techniques to minimise construction waste
generated through the ofsite prefabrication of completed sections.
Non-hazardous construction waste (inert)无害建筑废物（惰性）Tones吨726.74
Non-hazardous construction waste
(non-inert)
无害建筑废物（非惰性）Tones吨
1,963.30
Paper consumption纸张消耗量Tones吨1.69
Paper recycling纸张回收量Tones吨0.17
Total non-hazardous waste无害废物总量Tones吨2,691.56
Total non-hazardous waste per
construction project
按建筑项目计算的无害
废物总量
Tones/project
吨╱项目103.52
Total non-hazardous waste per revenue按收益计算的无害废物
总量
Tones/milion
dolar
吨╱百万元5.07
The decrease in total non-hazardous waste generation is atributed
to a general decrease in number of projects for the year.
The Group is not aware of any material non-compliance with the
relevant laws and regulations that have a significant impact on it
relating to air and GHG emisions, discharges into water and land
and generation of hazardous waste.
Water Utilisation
Due to the nature of our busines, the Group has not encountered
any isues in sourcing water. Water consumption is limited to usage
in the ofice, which is suplied by the owners of the properties
and water used at sites is provided by the customers. Thus, water
usage is considered to have minimal efect on the Group’s busines
operations.
The Group is planing to upgrade water faucets in ofice pantries
to WELS (Water Eficiency Labeling and Standards) Grade No. 1
standards, promoting water conservation and eficiency. Employes
are also encouraged to use filtered drinking water taps as an
alternative to botled water.
IBI Group Holdings Limited
Anual Report 2024/2025
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
环境及天然资源
本集团已制定环境因素登记册，以识别及应对其活动
对环境及天然资源的影响。管理措施旨在减轻潜在的
环境影响。我们已在地盘实施强效的空气污染控制系
统及废水处理程序，以确保符合监管准则。地盘经理、
安全环保主管及工头负责进行地盘检查，以监督分包
商的表现，并在评估过程中提供宝贵的意见。
建筑设计中的环境整合
我们积极支持客户获得LED及BEAM Plus认证，通
过完成认证的「绿色建筑」项目，展示我们对可持续发
展的坚定承诺。在我们大部分的翻新项目中，我们优
先使用可持续材料，例如竹子和低挥发性有机化合物
(VOC)油漆、黏合剂及客户设计师指定的饰面材料。通
过采用环保建筑材料和实践，我们为保护生态系统、
节约天然资源及减少能源消耗作出贡献，从而减少温
室气体排放，并降低建筑环境的碳足迹。此外，我们
参与多个设有绿色墙的项目，展示我们对创新及环保
设计解决方案的承诺。
个案研究：中电钟楼文化馆转型
中电钟楼文化馆于一九四零年建成，曾作为中电总部
超过七十年，实属珍贵地标。文化馆于二零一八年指
定为一级历史建筑后，现已展开新旅程，致力推广香
港社区的遗产、文化及环境教育。IBI获授合约，负责
全面翻新及改建该建筑物为公共博物馆，并采用环保
方法及物料，以保留其原有特色。该项目包括创建绿
意盎然的景观区以及用于在博物馆餐厅销售食品的水
耕系统。该转型体现在保留历史的同时促进可持续发
展和社区参与的和谐结合。
Environment and Natural Resources
The Group has developed an Environmental Aspect Register to
identify and adres the impacts of its activities on the environment
and natural resources. Management actions are devised to mitigate
potential environmental impacts. We have implemented robust air
polution control systems and wastewater treatment procedures on-
site, ensuring compliance with regulatory standards. Site managers,
safety and environmental oficers, and foremen are responsible for
conducting site inspections to monitor subcontractor performance
and provide valuable fedback during the evaluation proces.
Environmental Integration in Building Design
We actively suport our clients in achieving LED and BEAM
Plus certifications, demonstrating our steadfast comitment to
sustainability through the completion of certified “Gren Building”
projects. In the majority of our renovation projects, we prioritise
the use of sustainable materials such as bambo and low VOC
(Volatile Organic Compound) paint, adhesives, and finishes as
specified by the clients’ designers. By embracing eco-friendly
building materials and practices, we contribute to the preservation
of ecosystems, conservation of natural resources, and reduction
of energy consumption. This, in turn, results in decreased GHG
emisions and a lower carbon fotprint for the built environment.
Moreover, our involvement in numerous projects featuring gren
wals showcases our dedication to inovative and environmentaly
conscious design solutions.
Case study: CLP Heritage Museum Transformation
Originaly constructed in 1940, the CLP Heritage Museum, a
cherished landmark, served as CLP’s headquarters for over seven
decades. Designated as a Grade 1 historic building in 2018, it
now embarks on a new journey to promote heritage, culture and
environmental education for the Hong Kong comunity. IBI was
awarded the contract to overse the comprehensive refurbishment
and conversion of the building into a public museum, adopting
environmentaly friendly aproaches and materials to preserve its
original character. The project includes the creation of lush gren
landscaped areas and a hydroponic system for cultivating fod
sold in the museum’s canten. This transformation exemplifies a
harmonious blend of preserving history while fostering sustainability
and comunity engagement.
IBI Group Holdings Limited
2024/2025年度报告
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
个案研究：Adelaide Chambers— 可持续遗产的典范
于二零二年，IBI收购位于都柏林的历史地标
Adelaide Chambers，该地标可追溯至18世纪。该建筑
于千禧年代翻新，以提供甲级办公空间，同时保留原
有特色，展示IBI对可持续工作空间的承诺。Adelaide
Chambers现时透过企业电力购买协议(CPA)从可再
生能源获取电力，此举与我们减少环境影响的使命相
当契合。
我们的员工
福利及待遇
本集团明了雇员属最宝贵的资产，因此我们致力提供
全面的福利和待遇计划，以确保其福祉和工作满意度。
根据我们的人力资源政策，我们的福利待遇包括健全
的薪酬系统，确保工资及时准确发放，参加强制性公
积金计划（强积金计划），以及广泛的保险保障。全体
雇员均符合雇员补偿条例所规定的雇员赔偿保险资格。
此外，我们的员工医疗计划在试用期后扩展至涵盖员
工的配偶和子女，兑现我们对员工健康和福祉的承诺。
Case study: Adelaide Chambers — A Model of Sustainable
Heritage
In 2022, IBI acquired Adelaide Chambers, a historic landmark in
Dublin dating back to the 18th century. Renovated in the 2000s to
ofer Grade A ofice space while preserving its original features, the
building showcases IBI’s comitment to sustainable workspaces.
Adelaide Chambers now sources its power from renewable energy
through a Corporate Power Purchase Agrement (CPA), which
aligns wel with our mision to reduce our environmental impact.
OUR PEOPLE
Welfare and Benefits
The Group recognises that its employes are its most
valuable aset and therefore we are comited to providing a
comprehensive welfare and benefits plan to ensure their wel-being
and job satisfaction. As outlined in our Human Resources Policy,
our benefits package includes a robust remuneration system,
ensuring timely and acurate payrol procesing, participation
in the Mandatory Provident Fund (MPF) scheme, and extensive
insurance coverage. Al employes are eligible for the Employes
Compensation Insurance as stipulated by the Employes
Compensation Ordinance. Aditionaly, our employe medical
plan extends to cover spouses and children of employes after the
probation period, underscoring our comitment to the health and
wel-being of our workforce.
| Employment Details | Nos. | % Of Total Staff | Staff Turnover Rate5 | |
|---|---|---|---|---|
| 雇员明细 | 人数 | 占员工总数 百分比 | 员工流失率5 | |
IBI Group Holdings Limited
Anual Report 2024/2025
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
于二零二五年三月三十一日，本集团27%员工效力本
集团五年以上。
As of 31 March 2025, 27% of the Group’s employes had worked
for over 5 years in the Group.
Employment Type雇佣类型
Ful Time 全职93100%23%
Part-Time 兼职00%0%
Total 总计93100%
Gender性别
Male 男性6873%24%
Female 女性2527%20%
Total 总计93100%
Age Group年龄组别
18-30 18–30岁1516%40%
31-40 31–40岁3234%19%
41-50 41–50岁2527%28%
50 or above 50岁或以上2123%10%
Total 总计93100%
Geographical Region地理区域
Hong Kong 香港8895%24%
Macau 澳门44%0%
Other 其他11%0%
Total 总计93100%
Employe Categories雇员类别
Senior Management 高级管理层78%0%
Midle Management 中级管理层2122%0%
General Staf 一般员工6570%32%
Total 总计93100%
Service period服务年期
— Les than 5 Years – 5年内6873%28%
— 5 to 10 years – 5至10年55%40%
— Over 10 Years – 10年以上2022%0%
Total 总计93100%
The staf turnover rate is calculated by dividing the number of employes
leaving employment within the specified category during the year by the
total number of employes within that category.
员工流失率按某一类别于年内离职的员工数目除以该类别
的员工总数计算。
IBI Group Holdings Limited
2024/2025年度报告
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
我们的休假政策旨在迎合员工的多样需求。除法定假
期外，我们提供婚假、丧假及侍产假的特别有薪假期，
以及附有医疗证明的全面病假政策。我们亦会提供年
假，并考虑雇员的服务年资、紧急程度及缺勤频率，
安排个人及紧急假期的请求。
IBI遵循结构性和透明的招聘流程。部门主管根据人员
需求发起人员招聘，确保甄选合适的候选人。所有与
雇佣相关的文件均已存档并妥善保管，维持最高的保
密及合规标准。我们亦强调通过定期培训计划及专业
发展机会持续发展员工。我们的年度表现评估乃建基
于管理层与员工之间的公开沟通，重点在于目标和成
就。评估结果为薪酬调整和晋升决策提供依据，旨在
支持个人发展并提升整体表现。
本集团并无发现任何严重违反与薪酬及解雇、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有关且对其构成重大影响的相关
法律及规例的情况。
职业健康与安全
作为负责任的建筑承建商，IBI十分重视员工健康与安
全。本公司附属公司IBI Limited及IBI Projects Limited已
取得ISO 45001：2018职业健康与安全管理体系认证。
本集团的安全管理系统在公司安全手册中全面概述，
包括安全及健康政策、安全相关人员的职责、安全培
训、安全检查、安全设备管理、事故调查、应急准备、
分包商的评估及控制以及安全委员会的运作，以上种
种皆履行我们对员工在各方面健康、安全及保障的承诺。
Our leave policy is designed to cater to the diverse neds of our
employes. In adition to statutory holidays, we ofer special
paid leave for mariage, bereavement and paternity, as wel as a
comprehensive sick leave policy on medical certification. We also
provide anual leave and acomodate personal and emergency
leave requests, considering the employe’s length of service,
urgency and frequency of absences.
IBI folows a structured and transparent recruitment proces.
Department heads initiate personel acquisitions based on stafing
neds, ensuring selection of suitable candidates. Al employment-
related documents are filed and secured, maintaining the highest
standards of confidentiality and compliance. We also emphasise the
continuous development of our employes through regular training
programes and profesional development oportunities. Our
anual performance apraisals are based on open comunication
betwen management and employes, focusing on objectives and
achievements. The apraisal results inform decisions on salary
adjustments and promotions, with the aim of suporting personal
development and improving overal performance.
The Group is not aware of any material non-compliance with the
relevant laws and regulations that have a significant impact on it
relating to compensation and dismisal, recruitment and promotion,
working hours, rest periods, equal oportunity, diversity, anti-
discrimination and other benefits and welfare.
Ocupational Health and Safety
As a responsible building contractor, IBI places a high priority
on the health and safety of its employes. IBI Limited and IBI
Projects Limited, subsidiaries of the Company, have achieved ISO
45001:2018 Ocupational Health & Safety Management Systems
Certification.
The Group’s safety management systems are comprehensively
outlined in the Company Safety Manual, including its safety and
health policy, responsibilities of safety-related personel, safety
training, safety inspections, management of safety equipment,
acident investigation, emergency preparednes, asesment and
control of subcontractors, and operation of the Safety Comite,
which fulfil our comitment to the health, safety and security of our
employes on al fronts.
| Occupational Health and Safety Statistics | Unit | 2025 | 2024 | 2023 | |
|---|---|---|---|---|---|
| 职业健康及安全统计 | 单位 | 二零二五年 | 二零二四年 | 二零二三年 | |
| 0 |
|---|
| 457 |
| 3 |
IBI Group Holdings Limited
Anual Report 2024/2025
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
本集团明确界定不同人员的职务及职责，以确保建筑
施工过程中的安全。由行政总裁至前线员工，各人都
被分配特定职责及任务，涵盖规划、监督、协调及培
训等各方面。遵守相关法律及法规属强制性，全体人
员须定期报告工作场所的安全情况，并采取必要措施
减少安全风险。
本集团进行定期及全面的安全审核，包括每日例行检
查、每周及每两周检查、联合检查及外部安全审核。
该等审核由安全主管、地盘主管、项目经理及安全委
员会执行。安全问题通过面谈和实地视察进行评估，
并建议采取纠正措施应对特定危险，确保安全规程得
以有效执行。于报告期内，本集团并无遇到任何严重
违反与维持安全工作环境或保护员工免受职业性危害
有关且对本集团构成重大影响的法律或规例的情况。
安全培训
本集团已制定指引，举办涵盖各级员工的全面培训计
划，包括IBI员工、分包商员工及访客。目的是提高各
级员工的安全意识和专业技能，确保地盘运作符合监
管规定和公司的安全标准。我们已制定全面的安全培
训系统，涵盖管理策略至地盘实践、法规、操作技能、
风险预防和控制，以及培养安全文化。
The Group has clearly defined responsibilities and duties of diferent
personel, for ensuring safety in the building construction proces.
From the Chief Executive Oficer to frontline workers, everyone is
asigned specific duties and tasks, covering various aspects such
as planing, supervision, cordination and training. Compliance
with relevant laws and regulations is mandatory, and al personel
are required to report regularly on workplace safety and take
necesary measures to mitigate safety risks.
The Group conducts regular and thorough safety audits, including
daily routine inspections, wekly and biwekly inspections, joint
inspections, and external safety audits. These are caried out by
safety oficers, site supervisors, project managers, and safety
comites. Safety isues are asesed through interviews and
site visits, and corective measures are recomended to adres
specific hazards, ensuring that safety protocols are efectively
implemented. During the reporting period, the Group did not
encounter any serious violations of laws or regulations related to
maintaining a safe working environment or protecting employes
from ocupational hazards that would materialy impact the Group.
Number of work-related fatalities工伤死亡人数Nos.
人数00
Number of lost days due
to work injury
因工伤而损失的
工作天数
days
天数4241,120
Number of work injuries
due to work atributable to
subcontractors
由分包商造成的
因工负伤人数
Nos.
人数
Safety Training
The Group has set up guidelines for holding comprehensive
training programes that cover al levels of staf, including IBI staf,
subcontractor staf and visitors. The aim is to enhance the safety
awarenes and profesional skils of staf at al levels to ensure that
site operations comply with regulatory requirements and company
safety standards. A comprehensive safety training system has ben
developed spaning from management strategies to site practices,
regulations, operational skils, risk prevention and control, and to
nurture a culture of safety.
IBI Group Holdings Limited
2024/2025年度报告
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
本集团的技能及安全培训课程可分为以下类别：
安全管理及监督课程
- ，以提升项目整体
安全管理及场所安全监督能力。
基本安全合规培训
• 所有参与建筑工程的人员均须完成建造业法定基
本安全培训并持有效证书，确保彼等具备基本
安全知识。
操作安全提升培训
- ，例如处理和消防，我们会提
供处理相关设备和消防操作的专门培训，从而减
少特定风险。
知识传播及安全意识文化创建工具箱
• 每周会议旨在通过风险评估及法规教育提高员工
的兴趣及意识。
高风险操作的专门培训
- 、气动工具、切割和焊接等特别范畴
而言，专门机构提供培训，以传授必要技能并确
保健康与安全。
The Group’s skils and safety training courses can be divided into
the folowing categories:
Safety Management and Supervision Courses
• Designed for project managers or safety oficers to enhance
the overal safety management of the project and the ability to
supervise safety on site.
Basic Safety Compliance Training
• Al personel involved in construction are required to complete
the statutory basic safety training for the construction industry
and hold valid certificates to ensure that they have basic
safety knowledge.
Operation Safety Enhancement Training
- , such as handling and firefighting,
specialised training is provided on handling the relevant
equipment and firefighting operations to reduce specific risks.
Knowledge Disemination and Awarenes Safety Culture Creation
Tolbox
• Wekly metings to raise employe interest and enhance
awarenes through risk asesment and regulatory education.
Targeted Training for High-risk Operations
- , pneumatic tols,
cuting and welding, training is provided through specialised
organisations to impart the requisite skils and ensure health
and safety.
| Male | Female | Senior Management | Middle Management | General Staff | ||
|---|---|---|---|---|---|---|
| 男性 | 女性 | 高级管理层 | 中级管理层 | 一般员工 |
IBI Group Holdings Limited
Anual Report 2024/2025
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
发展及培训
本集团秉持「公司发展取决于人才发展」的理念，并密
切关注员工的职业技能培训及个人发展路径。作为我
们对员工成长承诺的一部分，并根据我们的发展、学
习及培训政策，我们鼓励员工通过我们的「培训、发展
及学费报销计划」参与多元化的培训及发展机会。人力
资源部与本集团内各业务单位通力合作，有效执行该
政策。
IBI支付持续专业发展(CPD)课程的费用，并赞助短期
课程及完整学位课程，确保员工获得持续学习的机会。
部门主管建议员工参加相关课程，以配合个人职业目
标及部门需求。
防止强制劳工及童工
本集团已制定人权及劳工政策，强调对童工及强制劳
工零容忍。政策涵盖公司、员工、供应商及分包商，
确保全体员工均按照法律规定的条件自愿受雇。IBI遵
循明确的招聘流程，规定进行彻底的背景调查，以核
实全体员工的年龄和法定地位，并确保员工单由符
合法律就业标准的个人组成。若发现有童工或强制劳
工的情况，IBI会立即采取行动纠正，包括终止违反政
策的雇佣关系，并与相关当局紧密合作以解决问题。
本集团并无发现任何严重违反与防止童工或强制劳工
有关且对其构成重大影响的相关法律及规例的情况。
Development and Training
The Group adheres to the philosophy of “the height of the talent,
the limit of the company” and pays close atention to vocational
skils training and personal development path of its staf. As part of
our comitment to employe growth, outlined in our Development,
Learning, and Training Policy, we encourage participation in diverse
training and development oportunities through our “Training,
Development, and Tuition Reimbursement Programe.” The
Human Resources department colaborates with various busines
units acros the Group to efectively implement this policy.
IBI covers fes for Continuing Profesional Development (CPD)
courses and sponsors both short courses and ful degre
programes, ensuring continuous learning oportunities for
employes. Department heads recomend staf for relevant
courses, aligning with individual carer goals and departmental
neds.
No. of training hours atended已参加培训时数57619036138592
No. of staf atended training已参加培训员工数目682572165
% of staf atended training已参加培训员工百分比73%27%8%22%70%
Average training hours
completed per trained staf
平均每名受训员工
已完成培训时数8.477.605.146.579.11
Prevention of Forced and Child Labour
The Group has formulated a Human Rights and Labour Policy that
emphasises zero tolerance of child and forced labour. It covers
companies, employes, supliers and subcontractors, ensuring al
employes are employed on a voluntary basis and under conditions
prescribed by law. IBI folows a wel-defined hiring proces that
stipulates thorough background checks to verify the age and
legal status of al employes and ensures that the workforce
is composed solely of individuals who met legal employment
standards. In the event that an instance of child or forced labour
is discovered, IBI takes imediate action to rectify the situation,
including termination of employment that violates policy and works
closely with relevant authorities to adres the situation.
The Group is not aware of any serious violations of relevant laws
and regulations relating to prevention of child or forced labour
which have a significant impact on it.
| Number of suppliers by geographical region | 2025 | 2024 | |
|---|---|---|---|
| 按地理区域划分的供应商数目 | 二零二五年 | 二零二四年 | |
| 386 |
|---|
| 6 |
| 14 |
IBI Group Holdings Limited
2024/2025年度报告
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
我们的营运
供应链管理
IBI采用全面策略以识别及管理涵盖其整个供应链的风
险，确保运营效率及符合相关法规。主要措施包括对
新分包商进行彻底的背景调查和法院搜索，以评估其
可靠性和法律地位。此外，供应链风险管理乃本集团
质量控制体系中不可或缺的组成部分。
IBI持续与供应商合作，涉及定期安全会议及合规讨论。
在项目开始前，IBI会安排与分包商进行会议，讨论健
康、安全及监管规定。分包商必须提交详细的安全计
划及方法声明，确保均已识别并有效管理所有潜在危害。
为进一步巩固与供应商的关系，本集团备有一份内部
认可的分包商名单，并仅聘用符合严格表现和安全标
准的分包商。此选择性方法结合持续的绩效评估，确
保分包商持续达到本公司的高标准。如有不合规情况，
IBI将会处以财务罚款及采取纠正措施，突显IBI致力于
维持安全及高效的供应链。
根据绿色采购政策，IBI积极推广使用环保产品和服务。
我们每年评估供应商在环境和职业健康方面的表现，
违规可能导致终止合约。于进行该等评估时，供应商
会获提醒本集团的环境及社会标准，并鼓励以可持续
的方式生产。此外，IBI根据客户要求优先向特定供应
商购买材料，以满足其可持续发展偏好，确保采购符
合我们的环保目标和客户的优先考虑。
OUR OPERATION
Suply Chain Management
IBI employs a comprehensive strategy to identify and manage
risks spaning its entire suply chain, ensuring both operational
eficiency and compliance with relevant regulations. Key measures
include conducting thorough background checks and court
searches on new subcontractors to ases their reliability and legal
standing. In adition, suply chain risk management is an integral
component in the quality control system of the Group.
Engagement with supliers is a continuous proces at IBI,
involving regular safety metings and compliance discusions.
Prior to the comencement of a project, IBI aranges metings
with subcontractors to discus health, safety, and regulatory
requirements. Subcontractors are required to submit detailed safety
plans and method statements, ensuring al potential hazards are
identified and managed efectively.
To further strengthen suplier relationships, the Group maintains
an internal list of aproved subcontractors and engages only
those who met stringent performance and safety standards.
This selective aproach is coupled with ongoing performance
evaluations to ensure subcontractors consistently met the
Company’s high standards. In the event of non-compliance,
financial penalties and corective actions are imposed, underscoring
IBI’s comitment to maintaining a safe and eficient suply chain .
As outlined in its Gren Procurement Policy, IBI actively promotes
the use of environmentaly preferable products and services. We
conduct anual asesments of our supliers’ environmental
and ocupational health performance and non-compliance can
potentialy result in contract termination. During these asesments,
supliers are reminded of the Group’s environmental and social
standards, encouraging sustainable production practices.
Aditionaly, IBI prioritises purchasing materials from specific
supliers upon customer request to met their sustainability
preferences, ensuring procurement aligns with both our
environmental goals and our customers’ priorities.
Hong Kong香港317
Mainland China中国内地2
Others (USA, Australia, Germany, Netherlands,
France, Canada, Norway, Macau, Italy, Thailand)
其他（美国、澳洲、德国、荷兰、
法国、加拿大、挪威、澳门、
意大利、泰国）16
IBI Group Holdings Limited
Anual Report 2024/2025
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
质量保证及客户满意度
IBI Limited及IBI Projects Limited已取得ISO 9001：
2015质量管理体系认证。本集团优先考虑客户满意度，
并在整个项目生命周期中与客户互动，征求反馈并按
照需要进行调整。根据我们的质量政策，我们已设有
结构性的质量控制程序，在关键阶段设置检查点，以
确保达到最高标准。程序包括严格的检查和文件记录，
以协助处理任何必要的回收或采取纠正措施。本集团
亦投资于员工培训，以确保彼等能妥善完成工作。本
集团定期进行审核以评估和改进质量管理体系。
员工须向主管汇报任何查询或投诉，并记录于工作记
录表中跟进。管理代表咨询负责人员，以确定并实施
纠正措施，确保及时有效地处理投诉。于本年度，本
集团并无因安全及健康原因而进行任何产品回收，亦
无接获任何与产品或服务相关的投诉。
数据安全
本集团已实施资讯科技一般控制政策，该政策专注于
电子邮件安全及相关措施。我们利用Microsoft 365的
功能，采用资料遗失防护(DLP)和资讯权限管理(IRM)
等工具保护敏感资讯。为配合该等工作，Govern 365
促进简化的数据保护流程，而我们严格的安全政策，
加上全面的风险分析和相关的关键绩效指标，确保
障知识产权(IP)。
此外，内置Ofice应用程式中的数据保存和私隐控制确
保严格遵守全球合规标准。我们持续监察并执行客户
私隐政策，并定期根据招标要求和资料当事人同意协
议进行评估。报告期内，本集团并无发现任何严重违
反与所提供服务的健康与安全、广告、标签及私隐事
宜以及补救方法有关且对本集团构成重大影响的相关
法律及规例的情况。
Quality Asurance and Customer Satisfaction
IBI Limited and IBI Projects Limited have obtained ISO 9001:2015
Quality Management Systems Certification. The Group prioritises
customer satisfaction and engages with clients throughout the
project lifecycle, soliciting fedback and making adjustments as
neded. Aligning with our Quality Policy, a structured quality control
proces is in place, with checkpoints at key stages to ensure that
the highest standards are met. This includes rigorous inspections
and documentation to help adres any necesary recals or to
take corective actions. The Group also invests in staf training to
ensure they are proficient in delivering quality work. Regular audits
are conducted to ases and improve the quality management
system.
Staf are required to report any inquiries or complaints to their
supervisors and the same are recorded in the log shet and are
tracked. Management representative consults with responsible
personel to determine and implement corective actions, ensuring
complaints are handled promptly and efectively. During the Year,
the Group did not have any instance of product recal for safety and
health reasons nor were any products or service-related complaints
received.
Data Security
The Group has implemented an IT General Control Policy, which
focuses on email security and related measures. Utilising the
capabilities of Microsoft 365, we employ tols like Data Los
Prevention (DLP) and Information Rights Management (IRM) to
safeguard sensitive information. Complementing these eforts,
Govern 365 facilitates streamlined data protection proceses, while
our stringent security policies, coupled with comprehensive risk
analytics and relevant KPIs, ensure the protection of intelectual
property (IP) rights.
In adition, data retention and privacy controls embeded in
Ofice aplications ensure strict adherence to global compliance
standards. We continuously monitor and enforce customer privacy
policies, subject to regular evaluation against tender requirements
and data subject consent protocols. The Group was not aware of
any material non-compliance with the relevant laws and regulations
that have a significant impact on the Group relating to health and
safety, advertising, labeling and privacy maters relating to services
provided and methods of redres during the reporting period.
IBI Group Holdings Limited
2024/2025年度报告
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
反贪污
于IBI，我们致力于在所有业务往来中维持最高标准的
诚信和道德行为。本集团已制定反欺诈及举报政策，
以确保我们能够防止、侦测及处理任何形式的贪污或
欺诈行为。该政策全面界定欺诈行为，包括贿赂、回
扣、挪用公款及其他贪污行为。我们已制定一套程序，
就对彼等行为的期望及参与贪污活动的后果为员工提
供指引。一旦确认欺诈行为，我们会采取纠正措施，
包括对违规者进行纪律处分，以确保不再发生有关事件。
我们明了告密者在维护我们对诚信的承诺中所扮演的
重要角色。举报涉嫌欺诈或贪污的员工将受到保护，
不会遭到报复。我们提供保密举报机制，所有资料均
会以最高保密程度处理。调查会以低调方式进行，并
尽可能保护举报者的身份。
董事会负责政策审查和正式的欺诈风险评估，确保有
力的风险缓解控制措施。各部门主管评估其所属范围
内的欺诈风险，并向董事会报告重大风险以便采取行
动。我们正积极申请廉政公署的「诚信营商约章」。作
为此计划的一部分，我们的管理团队将参加所需的培
训课程。于报告期间，概无有关贪污的司法案件。
Anti-coruption
At IBI, we are comited to maintaining the highest standards of
integrity and ethical conduct in al our busines dealings. An Anti-
fraud and Whistle-blowing Policy is in place to ensure we are able
to prevent, detect, and adres any form of coruption or fraudulent
activities. The policy defines fraud comprehensively, including
bribery, kickbacks, embezlement, and other corupt practices. We
have established a set of procedures that guide our employes on
the behaviour expected of them and the consequences of engaging
in corupt activities. Where fraud is confirmed, we take corective
actions, including disciplinary measures against the violators, to
ensure such incidents do not recur.
We recognise the critical role that whistleblowers play in upholding
our comitment to integrity. Employes who report suspected
fraud or coruption are protected from retaliation. We provide a
confidential reporting mechanism, and al information received is
treated with the utmost confidentiality. Investigations are conducted
discretely and the identity of the whistleblower is protected to the
extent posible.
The Board is responsible for policy review and formal fraud risk
evaluations, ensuring robust controls for risk mitigation. Department
heads ases fraud risks within their areas and report material risks
to the Board for action. We are actively aplying for the ICAC’s
“Busines Sector Integrity Charter”. As part of this initiative, our
management team wil be participating in the required training
sesions. During the reporting period, there were no legal cases
regarding coruption.
IBI Group Holdings Limited
Anual Report 2024/2025
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
回馈社区
IBI致力于社区参与及履行企业社会责任，并透过各种
举措和渠道积极为社会进步作出贡献。我们的社区参
与政策鼓励全体员工积极参与社区参与活动，并支持
我们建立稳固且持久的社区关系的工作。于报告期间，
我们的贡献重点范畴如下。
慈善捐款
我们向香港慈善机构捐赠约316,000港元，包括向小
彬纪念基金会捐赠约276,000港元，以通过学位课程
及其他计划赋权少数族裔女性。
教育支援计划
我们与教育机构合作，向一名来自香港专业教育学院
(IVE)课程的学生及三名大学生提供学位课程和实习机
会，培养其才能和潜能。此外，我们赞助了五名年轻
女性，并为其中一名女性提供在我们办公室实习的机会。
Giving Back to the Comunity
IBI is comited to comunity engagement and fulfiling its
corporate social responsibility and actively contributes to the
beterment of society through various initiatives and chanels.
Our Comunity Engagement Policy encourages al employes to
actively participate in comunity engagement activities and suport
our eforts to build strong and lasting comunity relationships.
During the reporting period, our focus areas of contribution were as
folows.
Charity Donations
We donated aproximately HK$316,000 to charities in Hong Kong,
including aproximately HK$276,000 to the Zubin Foundation to
empower ethnic minority women through degre courses and other
initiatives.
Educational Suport Programes
In partnership with educational institutions, we provided degre
courses and internship oportunities to one student from the Hong
Kong Institute of Vocational Education (IVE) programe and thre
university students, nurturing their talents and potential. Moreover,
we sponsored five young women and have also provided an
internship oportunity for one of them to work in our ofice.
| Aspect | Applicable Laws and Regulations | Compliance Status |
|---|---|---|
| 层面 | 适用法律及法规 | 合规状况 |
IBI Group Holdings Limited
2024/2025年度报告
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
附录
适用法律及法规
APENDICES
Aplicable Laws and Regulations
EnvironmentEnvironmental Impact Asesment Ordinance (Cap. 499)The Group was not aware
of any non-compliance with
laws and regulations related
to air and GHG emisions,
discharges into water and
land and generation of
hazardous waste that could
have a significant impact
on its operations during the
reporting period.
Hong Kong Planing Standards and Guidelines
Air Polution Control Ordinance (Cap. 311)
Hong Kong Air Quality Objectives
Air Polution Control (Construction Dust) Regulation (Cap. 311R)
Water Polution Control Ordinance (Cap. 358)
Water Quality Objectives
Sumary Ofences Ordinance (Cap. 228)
Factories and Industrial Undertakings Ordinance (Cap. 59)
Waste Disposal Ordinance (Cap. 354)
Public Cleansing and Prevention of Nuisance (Regional Council)
By-law (Cap. 132BJ)
Public Health and Municipal Services Ordinance (Cap. 132)
Waste Disposal (Chemical Waste) (General) Regulations (Cap.
354C)
Practice Note for Authorised Persons, Registered Structural
Enginers and Registered Geotechnical Enginers 144: Control of
Environmental Nuisance from Construction Sites (August 1997)
环境《环境影响评估条例》（第499章）本集团在报告期内并不知悉
任何与废气及温室气体排
放、向水及土地的排污以及
有害废物的产生有关且可能
对其运营构成重大影响的事
宜违反法律及规例的情况。
香港规划标准与准则
《空气污染管制条例》（第311章）
香港空气质素指标
《空气污染管制（建造工程尘埃）规例》（第311R章）
《水污染管制条例》（第358章）
海水质指标
《简易程序治罪条例》（第228章）
《工厂及工业经营条例》（第59章）
《废物处置条例》（第354章）
《公众洁净及防止妨扰（区域市政局）附例》（第132BJ章）
《公众卫生及市政条例》（第132章）
《废物处理（化学废物）（一般）规例》（第354C章）
认可人士、注册结构工程师及注册岩土工程师作业备考编号
144：管制建筑地盘对环境造成的滋扰（一九七年八月）
| Aspect | Applicable Laws and Regulations | Compliance Status |
|---|---|---|
| 层面 | 适用法律及法规 | 合规状况 |
IBI Group Holdings Limited
Anual Report 2024/2025
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
EmploymentOcupational Safety and Health Ordinance and the Construction
Site (Safety) Regulations in Hong Kong
The Group was not aware
of any non-compliance with
laws and regulations related
to employment, ocupational
health and safety that could
have a significant impact
on its operations during the
reporting period.
General Regulation of Working Safety and Hygiene in the
Construction Industry in Macau
Employment Ordinance in Hong Kong
Labour Relations Law in Macau
雇佣香港《职业安全及健康条例》及《建筑地盘（安全）规例》本集团在报告期内并不知悉
任何违反与雇佣、职业健康
及安全有关且对其运营构成
重大影响的法律及规例的情
况。
澳门《施工行业工作安全与卫生通用条例》
香港《雇佣条例》
澳门《劳动关系法》
Suply Chain
Management
Suply of Services (Implied Terms) Ordinance (Chapter 457 of the
Laws of Hong Kong)
The Group was not aware
of any non-compliance with
laws and regulations related
to suply chain management
that could have a significant
impact on its operations
during the reporting period.
供应链管理《服务提供（隐含条款）条例》（香港法例第457章）本集团在报告期内并不知悉
任何违反与供应链管理有关
且可能对其运营构成重大影
响的法律及规例的情况。
Data PrivacyPersonal Data (Privacy) Ordinance (Chapter 486 of the Laws of
Hong Kong)
The Group was not aware
of any non-compliance with
laws and regulations related
to suply chain management
that could have a significant
impact on its operations
during the reporting period.
资料私隐《个人资料（私隐）条例》（香港法例第486章）本集团在报告期内并不知悉
任何违反与供应链管理有关
且可能对其运营构成重大影
响的法律及规例的情况。
Anti-coruptionPrevention of Bribery Ordinance (Chapter 201 of the Laws of Hong
Kong)
The Group was not aware
of any non-compliance with
laws and regulations related
to anti-coruption that could
have a significant impact
on its operations during the
reporting period.
反贪污《防止贿赂条例》（香港法例第201章）本集团在报告期内并不知悉
任何违反与反贪污有关且可
能对其运营构成重大影响的
法律及规例的情况。
| ESG Aspects | Description | Sections |
|---|---|---|
| ESG层面 | 描述 | 章节 |
IBI Group Holdings Limited
2024/2025年度报告
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
HONG KONG STOCK EXCHANGE ESG
REPORTING GUIDE CONTENT INDEX
Mandatory Disclosure Requirements
强制披露规定
Governance StructureA statement from the board containing the folowing elements:SUSTAINABILITY
GOVERNANCE — Board
Statement
Stakeholder Engagement
and Materiality
(i) a disclosure on the Board’s oversight of ESG isues;
(i) the Board’s ESG management aproach and strategy,
including the proces used to evaluate, prioritise and
manage material ESG-related isues (including risks to the
isuer’s busineses); and
(i) how the Board reviews progres made against ESG-related
goals and targets with an explanation of how they relate to
the isuer’s busineses.
管治架构由董事会发出的声明，当中载有下列内容：
(i) 披露董事会对ESG事宜的监管；
(i) 董事会的ESG管理方针及策略，包括评估、优次排列及管
理重要的ESG相关事宜（包括对发行人业务的风险）的过
程；及
(i) 董事会如何按ESG相关目标检讨进度，并解释它们如何与
发行人业务有关连。
可持续管治—董事会声明
持份者参与及重要性
Reporting PrinciplesA description of, or an explanation of the aplication of the
folowing Reporting Principles in the preparation of the ESG report:
Materiality: The ESG report should disclose: (i) the proces to
identify and the criteria for the selection of material ESG factors;
(i) if a stakeholder engagement is conducted, a description of
significant stakeholders identified, and the proces and results of
the isuer’s stakeholder engagement.
To kep up with the fast
pace of global and local
sustainability developments,
IBI conducts a stakeholder
survey that aseses the
concerns of internal and
external stakeholders.
From the surveys, we
have developed a dep
understanding of the topics
material to IBI, and ensured
that these topics have ben
adresed in this report.
汇报原则描述或解释在编备ESG报告时如何应用下列汇报原则：
重要性：ESG报告应披露：(i)识别重要ESG因素的过程及选择
这些因素的准则；(i)如发行人已进行持份者参与，已识别的重
要持份者的描述及发行人持份者参与的过程及结果。
为跟上全球和本地可持续发
展的快速步伐，IBI开展持份
者调查，以评估内部和外部
持份者的关注。通过调查，
我们深入了解与IBI息相
关的议题，并确保在本报告
中处理该等议题。
香港联交所ESG报告指引内容索引表
| ESG Aspects | Description | Sections |
|---|---|---|
| ESG层面 | 描述 | 章节 |
IBI Group Holdings Limited
Anual Report 2024/2025
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
Quantitative: Information on the standards, methodologies,
asumptions and/or calculation tols used, and source of
conversion factors used, for the reporting of emisions/energy
consumption (where aplicable) should be disclosed.
Whenever aplicable, the
report discloses historical
and curent KPIs for FY2023
and 2024. Through a direct
comparison of year-on-year
data, the efectivenes of the
Group’s ESG management
aproach may be gauged.
量化：有关汇报排放量╱能源耗用（如适用）所用的标准、方法、
假设及╱或计算工具的资料，以及所使用的转换因素的来源应
予披露。
报告适时披露二零二三财年
和二零二四财年的历史和当
前关键绩效指标。通过同比
数据的直接比较，可以衡量
本集团ESG管理方针的成效。
Consistency: The isuer should disclose in the ESG report
any changes to the methods or KPIs used, or any other relevant
factors afecting a meaningful comparison.
Unles explicitly mentioned,
the data calculation
methodologies for al derived
figures are consistent with
our 2024 ESG Report,
thus alowing for direct
comparison.
一致性：发行人应在ESG报告中披露所用方法或关键绩效指标
的变更（如有）或任何其他影响有意义比较的相关因素。
除非明确提及，否则所有衍
生数字的数据计算方法均与
我们的《二零二四年ESG报
告》一致，因此可以直接进
行比较。
Reporting BoundaryA narative explaining the reporting boundaries of the ESG report
and describing the proces used to identify which entities or
operations are included in the ESG report. If there is a change in
the scope, the isuer should explain the diference and reason for
the change.
ABOUT THIS REPORT —
Reporting Boundary
汇报范围解释ESG报告的汇报范围，及描述挑选哪些实体或业务纳入
ESG报告的过程。若汇报范围有所改变，发行人应解释不同之
处及变动原因。
关于本报告 — 汇报范围
| ESG Aspects and KPIs | Description | Sections |
|---|---|---|
| ESG层面及关键绩效 指标 | 描述 | 章节 |
IBI Group Holdings Limited
2024/2025年度报告
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
A. Environmental
A. 环境
Aspect A1: Emisions
层面A1.排放物
General DisclosureInformation 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.
OUR ENVIRONMENT
APENDICES — Aplicable
Laws and Regulations
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。
我们的环境
附录 — 适用法律及法规
KPI A1.1The types of emisions and respective emisions data.OUR ENVIRONMENT —
Tackling Climate Change
OUR ENVIRONMENT —
Waste Management
关键绩效指标A1.1排放物种类及相关排放数据。我们的环境 — 应付气候变
化
我们的环境 — 管理废物
KPI A1.2Direct (Scope 1) and indirect energy (Scope 2) grenhouse gas
emisions and intensity.
OUR ENVIRONMENT —
Tackling Climate Change
关键绩效指标A1.2直接（范围1）及间接（范围2）能源温室气体排放量及密度。我们的环境 — 应付气候变
化
KPI A1.3Total hazardous waste produced and intensity.The Group did not produce
any hazardous waste during
the reporting period.
关键绩效指标A1.3所产生有害废弃物总量及密度。本集团于报告期内并无产生
任何有害废物。
KPI A1.4Total non-hazardous waste produced and intensity.OUR ENVIRONMENT —
Waste Management
关键绩效指标A1.4所产生无害废弃物总量及密度。我们的环境 — 管理废物
KPI A1.5Description of emision target(s) set and steps taken to achieve
them.
OUR ENVIRONMENT —
Tackling Climate Change
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。我们的环境 — 应付气候变
化
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.
OUR ENVIRONMENT —
Waste Management
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。
我们的环境 — 管理废物
| ESG Aspects and KPIs | Description | Sections |
|---|---|---|
| ESG层面及关键绩效 指标 | 描述 | 章节 |
IBI Group Holdings Limited
Anual Report 2024/2025
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
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.
OUR ENVIRONMENT
APENDICES — Aplicable
Laws and Regulations
一般披露有效使用资源（包括能源、水及其他原材料）的政策。我们的环境
附录 — 适用法律及法规
KPI A2.1Direct and/or indirect energy consumption by type in total and
intensity.
OUR ENVIRONMENT —
Tackling Climate Change
关键绩效指标A2.1按类型划分的直接及╱或间接能源总耗量及密度。我们的环境 — 应付气候变
化
KPI A2.2Water consumption in total and intensity.Due to the busines
nature of the Group,
water consumption is not
considered material to the
Group’s operation.
关键绩效指标A2.2总耗水量及密度。由于本集团的业务性质使
然，用水量被视为对本集团
营运并不重要。
KPI A2.3Description of energy use eficiency target(s) set and steps taken
to achieve them.
OUR ENVIRONMENT —
Tackling Climate Change
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。我们的环境 — 应付气候变
化
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.
The Group has not identified
any isues in sourcing water.
Due to the busines
nature of the Group,
water consumption is not
considered material to the
Group’s operation.
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。
本集团于取得水源上并无发
现任何问题。
由于本集团的业务性质使
然，用水量被视为对本集团
营运并不重要。
KPI A2.5Total packaging material used for finished products and with
reference to per unit produced.
Due to the busines nature
of the Group, packaging
material generation is not
considered material to the
Group’s operation.
关键绩效指标A2.5制成品所用包装材料的总量及每生产单位占量。由于本集团的业务性质使
然，产生包装材料被视为对
本集团营运并不重要。
| ESG Aspects and KPIs | Description | Sections |
|---|---|---|
| ESG层面及关键绩效 指标 | 描述 | 章节 |
IBI Group Holdings Limited
2024/2025年度报告
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
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.
OUR ENVIRONMENT
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。我们的环境
KPI A3.1Description of significant impacts of activities on the environment
and natural resources and the actions taken to manage them.
OUR ENVIRONMENT —
Environment and Natural
Resources
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。
我们的环境 — 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.
OUR ENVIRONMENT —
Tackling Climate Change
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。
我们的环境 — 应付气候变
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.
OUR ENVIRONMENT —
Tackling Climate Change
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。
我们的环境 — 应付气候变
化
| ESG Aspects and KPIs | Description | Sections |
|---|---|---|
| ESG层面及关键绩效 指标 | 描述 | 章节 |
IBI Group Holdings Limited
Anual Report 2024/2025
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
B. Social
B. 社会
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.
OUR PEOPLE — Welfare
and Benefits
APENDICES — Aplicable
Laws and Regulations
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。
我们的员工 — 福利及待遇
附录 — 适用法律及法规
KPI B1.1Total workforce by gender, employment type, age group and
geographical region.
OUR PEOPLE — Welfare
and Benefits
关键绩效指标B1.1按性别、雇佣类型、年龄组别及地区划分的雇员总数。我们的员工 — 福利及待遇
KPI B1.2Employe turnover rate by gender, age group and geographical
region.
OUR PEOPLE — Welfare
and Benefits
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。我们的员工 — 福利及待遇
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.
OUR PEOPLE —
Ocupational Safety and
Health
APENDICES — Aplicable
Laws and Regulations
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。
我们的员工 — 职业健康与
安全
附录 — 适用法律及法规
KPI B2.1Number and rate of work-related fatalities ocured in each of the
past thre years including the reporting year.
OUR PEOPLE —
Ocupational Safety and
Health
关键绩效指标B2.1过去三年（包括汇报年度）每年因工亡故的人数及比率。我们的员工 — 职业健康与
安全
KPI B2.2Lost days due to work injury.OUR PEOPLE —
Ocupational Health and
Safety
关键绩效指标B2.2因工伤损失工作日数。我们的员工 — 职业健康与
安全
KPI B2.3Description of ocupational health and safety measures adopted,
and how they are implemented and monitored.
OUR PEOPLE —
Ocupational Health and
Safety
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。我们的员工 — 职业健康与
安全
| ESG Aspects and KPIs | Description | Sections |
|---|---|---|
| ESG层面及关键绩效 指标 | 描述 | 章节 |
IBI Group Holdings Limited
2024/2025年度报告
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
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.
OUR PEOPLE —
Development and Training
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。我们的员工 — 发展及培训
KPI B3.1The percentage of employes trained by gender and employe
category.
OUR PEOPLE —
Development and Training
关键绩效指标B3.1按性别及雇员类别划分的受训雇员百分比。我们的员工 — 发展及培训
KPI B3.2The average training hours completed per employe by gender
and employe category.
OUR PEOPLE —
Development and Training
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。我们的员工 — 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 forced labour.
OUR PEOPLE — Prevention
of Forced and Child Labour
APENDICES — Aplicable
Laws and Regulations
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。
我们的员工 — 防止强制劳
工及童工
附录 — 适用法律及法规
KPI B4.1Description of measures to review employment practices to avoid
child and forced labour.
OUR PEOPLE — Prevention
of Forced and Child Labour
关键绩效指标B4.1描述检讨招聘惯例的措施以避免童工及强制劳工。我们的员工 — 防止强制劳
工及童工
KPI B4.2Description of steps taken to eliminate such practices when
discovered.
OUR PEOPLE — Prevention
of Forced and Child Labour
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。我们的员工 — 防止强制劳
工及童工
| ESG Aspects and KPIs | Description | Sections |
|---|---|---|
| ESG层面及关键绩效 指标 | 描述 | 章节 |
IBI Group Holdings Limited
Anual Report 2024/2025
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
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.
OUR OPERATION — Suply
Chain Management
一般披露管理供应链的环境及社会风险政策。我们的营运 — 供应链管理
KPI B5.1Number of supliers by geographical region.OUR OPERATION — Suply
Chain Management
关键绩效指标B5.1按地区划分的供应商数目。我们的营运 — 供应链管理
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.
OUR OPERATION — Suply
Chain Management
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。
我们的营运 — 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.
OUR OPERATION — Suply
Chain Management
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。
我们的营运 — 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.
OUR OPERATION — Suply
Chain Management
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。
我们的营运 — 供应链管理
| ESG Aspects and KPIs | Description | Sections |
|---|---|---|
| ESG层面及关键绩效 指标 | 描述 | 章节 |
IBI Group Holdings Limited
2024/2025年度报告
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
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.
OUR OPERATION— Quality
Asurance and Customer
Satisfaction
OUR OPERATION — Data
Security
APENDICES — Aplicable
Laws and Regulations
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。
我们的营运 — 质量保证及
客户满意度
我们的营运 — 数据安全
附录 — 适用法律及法规
KPI B6.1Percentage of total products sold or shiped subject to recals for
safety and health reasons.
OUR OPERATION— Quality
Asurance and Customer
Satisfaction
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。我们的营运 — 质量保证及
客户满意度
KPI B6.2Number of products and service related complaints received and
how they are dealt with.
OUR OPERATION— Quality
Asurance and Customer
Satisfaction
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。我们的营运 — 质量保证及
客户满意度
KPI B6.3Description of practices relating to observing and protecting
intelectual property rights.
OUR OPERATION — Data
Security
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。我们的营运 — 数据安全
KPI B6.4Description of quality asurance proces and recal procedures.OUR OPERATION— Quality
Asurance and Customer
Satisfaction
关键绩效指标B6.4描述质量检定过程及产品回收程序。我们的营运 — 质量保证及
客户满意度
KPI B6.5Description of consumer data protection and privacy policies, and
how they are implemented and monitored.
OUR OPERATION — Data
Security
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。我们的营运 — 数据安全
| ESG Aspects and KPIs | Description | Sections |
|---|---|---|
| ESG层面及关键绩效 指标 | 描述 | 章节 |
IBI Group Holdings Limited
Anual Report 2024/2025
ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT
环境、社会及管治报告
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.
OUR OPERATION — Anti-
coruption
APENDICES — Aplicable
Laws and Regulations
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。
我们的营运 — 反贪污
附录 — 适用法律及法规
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.
OUR OPERATION — Anti-
coruption
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。
我们的营运 — 反贪污
KPI B7.2Description of preventive measures and whistle-blowing
procedures, and how they are implemented and monitored.
OUR OPERATION — Anti-
coruption
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。我们的营运 — 反贪污
KPI B7.3Description of anti-coruption training provided to directors and
staf.
OUR OPERATION — Anti-
coruption
关键绩效指标B7.3描述向董事及员工提供的反贪污培训。我们的营运 — 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.
OUR OPERATION— Giving
Back to the Comunity
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。
我们的营运 — 回馈社区
KPI B8.1Focus areas of contribution.OUR OPERATION— Giving
Back to the Comunity
关键绩效指标B8.1专注贡献范畴。我们的营运 — 回馈社区
KPI B8.2Resources contributed to the focus area.OUR OPERATION— Giving
Back to the Comunity
关键绩效指标B8.2在专注范畴所动用资源。我们的营运 — 回馈社区
IBI Group Holdings Limited
2024/2025年度报告
INDEPENDENT AUDITOR’S REPORT
独立核数师报告
TO THE SHAREHOLDERS OF
IBI GROUP HOLDINGS LIMITED
(incorporated in the Cayman Islands with limited liability)
OPINION
We have audited the consolidated financial statements of IBI Group
Holdings Limited (the “Company”) and its subsidiaries (together
the “Group”) set out on pages 114 to 192, which comprise the
consolidated statement of financial position as at 31 March
2025, and the consolidated statement of profit or los and other
comprehensive income, 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.
In our opinion, the consolidated financial statements give a true and
fair view of the consolidated financial position of the Group as at
31 March 2025, and of its consolidated financial performance and
its consolidated cash flows for the year then ended in acordance
with HKFRS Acounting Standards as isued by the Hong Kong
Institute of Certified Public Acountants (“HKICPA”) and have ben
properly prepared in compliance with the disclosure requirements
of the Hong Kong Companies Ordinance.
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.
致IBI GROUP HOLDINGS LIMITED
列位股东
（于开曼群岛注册成立的有限公司）
意见
吾等已审核第114至192页所载IBI Group Holdings
Limited（「贵公司」）及其附属公司（统称「贵集团」）的综
合财务报表，当中包括于二零二五年三月三十一日的
综合财务状况表与截至该日止年度的综合损益及其他
全面收益表、综合权益变动表及综合现金流量表以及
综合财务报表附注，包括重大会计政策资料。
吾等认为，综合财务报表已根据香港会计师公会（「香
港会计师公会」）颁布的香港财务报告准则会计准则真
实公平地反映 贵集团于二零二五年三月三十一日的
综合财务状况以及截至该日止年度的综合财务表现及
综合现金流量，并已遵照香港公司条例的披露规定妥
为编制。
意见基础
吾等根据香港会计师公会颁布的香港审计准则（「香港
审计准则」）进行审核。在该等准则下，吾等的责任在
吾等的报告内「核数师就审核综合财务报表承担的责任」
一节进一步阐述。根据香港会计师公会的《专业会计师
道德守则》（「守则」），吾等独立于 贵集团，并已遵循
守则履行其他道德责任。吾等相信，吾等所获得审计
凭证能充足及适当地为吾等的意见提供基础。
IBI Group Holdings Limited
Anual Report 2024/2025
INDEPENDENT AUDITOR’S REPORT
独立核数师报告
关键审计事项
根据吾等的专业判断，关键审计事项为吾等审核本期
间综合财务报表中最重要的事项。吾等在审核综合财
务报表及就此达致意见时整体处理此等事项，而不会
就此等事项单独发表意见。
确认合约收益
请参阅综合财务报表附注4(i)(i)、5(i)及7。
截至二零二五年三月三十一日止年度， 贵集团就担任
香港及澳门私营机构物业项目的总承建商所提供翻新
服务（「承建」）确认收益约312,988,000港元。
贵集团根据 贵集团管理层对建造合约总收入的估计
及承建完成百分比（需要估计每份合约的合约成本）确
认承建收益。个别合约的合约成本根据管理层所编制
合约预算厘定。确认收益及估计建造合约收入需要重
大管理层判断，尤其在估计完工成本以及将确认的变
更及索赔金额方面。
吾等的回应：
吾等就管理层确认合约收益进行的程序包括：
• 抽样比较合约金额及每份已签署合约的预算合约
成本及经批准预算；
- ，并测试支持证据以
评估管理层对预算合约成本所作估计的合理性；
KEY AUDIT MATERS
Key audit maters are those maters that, in our profesional
judgment, were of most significance in our audit of the consolidated
financial statements of the curent period. These maters were
adresed in the context of our audit of the consolidated financial
statements as a whole, and in forming our opinion thereon, and we
do not provide a separate opinion on these maters.
Recognition of contract revenue
Refer to Notes 4(i)(i), 5(i) and 7 to the consolidated financial
statements.
The Group recognised revenue from provision of renovation
services as a main contractor for property projects in the private
sector in Hong Kong and Macau (“Contracting”) of aproximately
HK$312,988,000 for the year ended 31 March 2025.
The Group recognises revenue from Contracting acording to the
Group’s management’s estimation of the total outcome of the
construction contracts as wel as the percentage of completion
of the Contracting which requires the estimation of contract
costs of each contract. Contract costs of individual contracts are
determined based on budget of the contract which was prepared
by the management. The recognition of revenue and the estimation
of the outcome of construction contracts require significant
management judgement, in particular with respect to estimating the
cost to complete and the amounts of variations and claims to be
recognised.
Our response:
Our procedures in relation to management’s recognition of contract
revenue included:
• Comparing contract sum and budgeted contract costs to
respective signed contracts and aproved budgets on a
sample basis;
• Discusing with the management of the Group and testing
the suporting evidence to evaluate the reasonablenes
of the management’s estimation of the budgeted contract
costs;
IBI Group Holdings Limited
2024/2025年度报告
INDEPENDENT AUDITOR’S REPORT
独立核数师报告
- ；
• 向 贵集团管理层了解如何编制经批准预算及确
定不同完成阶段；及
• 抽样检测迄今已产生的合约成本及相关凭证之预
算合约成本。
投资物业的估值
请参阅综合财务报表附注4(c)、5(i)及18。
于二零二五年三月三十一日， 贵集团拥有投资物业
约115,368,000港元。投资物业于首次确认时按成本计
量，其后按公平值列账，当中任何变动均于损益确认。
于截至二零二五年三月三十一日止年度， 贵集团确认
其投资物业的公平值亏损约265,000港元。投资物业
的估值涉及重大判断及估计，并以若干关键假设为基
础。 贵集团采用收益资本化法对其投资物业进行估值。
为协助管理层处理涉及重大判断及估计的领域， 贵集
团已委聘独立估值公司进行物业估值。
吾等将投资物业的估值确定为一项关键审计事项，原
因为其对综合财务报表具有重大意义，且投资物业的
估值本身可能存在主观因素并须作出重大判断。
• Checking the existence and valuation of variations to
corespondences with customers on a sample basis;
• Obtaining an understanding from management of the Group
about how the aproved budgets were prepared and the
respective stage of completion were determined; and
• Testing contract cost incured to date and budget contract
costs to underlying suporting evidence, on a sample basis.
Valuation of investment property
Refer to Notes 4(c), 5(i) and 18 to the consolidated financial
statements.
As at 31 March 2025, the Group had an investment property of
aproximately HK$115,368,000. Investment property is measured
at cost on initial recognition, and thereafter is caried at fair value,
with any changes therein recognised in profit or los. During the
year ended 31 March 2025, the Group recognised a fair value los
on its investment properties of aproximately HK$265,000. The
valuation of investment property involves significant judgement and
estimates and is underpined by a number of key asumptions.
The Group caries out a valuation of its investment property by
using the income capitalisation aproach. To asist management
in this area which involves significant judgements and estimates,
the Group engaged an independent valuation firm to perform the
property valuation.
We identified the valuation of investment property as a key audit
mater because of its significance to the consolidated financial
statements and because the valuation of investment property can
be inherently subjective and requires significant judgement.
IBI Group Holdings Limited
Anual Report 2024/2025
INDEPENDENT AUDITOR’S REPORT
独立核数师报告
吾等的回应：
吾等就投资物业的估值进行的程序包括：
- 、专业知识及客观性；
• 评估管理层及独立估值公司所采用估值方法的适
当性；
• 检讨及质疑公平值估计依据的主要假设及关键判
断范畴的合理性；
• 委聘核数师专家协助吾等评估管理层及独立估值
公司就公平值估计所用估值方法的适当性以及输
入数据、假设及估计的合理性；及
- 。
年报所载其他资料
董事须为其他资料负责。其他资料包括 贵公司年报
所载资料，惟不包括综合财务报表及吾等的核数师报告。
吾等对综合财务报表发表的意见并不涵盖其他资料，
吾等亦不会就此发表任何形式的保证结论。
就吾等对综合财务报表进行的审计工作而言，吾等负
责审阅其他资料，并考虑其他资料是否与综合财务报
表或吾等从审计工作所获得资料之间出现重大不相符
情况，又或在其他方面出现重大错误陈述。倘吾等基
于所进行工作而得出此等其他资料有重大错误陈述的
结论，则吾等须汇报有关情况。就此而言，吾等并无
须汇报的事宜。
Our response:
Our procedures in relation to the valuation of investment property
included:
- ’s competence,
expertise and objectivity;
• Asesing the apropriatenes of the valuation methodology
used by management and the independent valuation firm;
• Reviewing and chalenging the reasonablenes of key
asumptions and critical judgement areas which underpin the
fair value estimation;
- ’s expert to asist us to ases the
apropriatenes of the valuation methodology and the
reasonablenes of the inputs, asumptions and estimation
used by management and the independent valuation firm
which underpin the fair value estimation; and
• Checking the acuracy and the relevance of the input data
used in the valuation.
OTHER INFORMATION IN THE ANUAL REPORT
The directors are responsible for the other information. The other
information comprises the information included in the Company’s
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.
IBI Group Holdings Limited
2024/2025年度报告
INDEPENDENT AUDITOR’S REPORT
独立核数师报告
董事就综合财务报表须承担的责任
董事须负责根据香港会计师公会颁布的香港财务报告
准则会计准则及香港公司条例的披露规定编制真实公
平地反映情况的综合财务报表，及厘定对编制综合财
务报表属必要的有关内部监控，以使该等综合财务报
表不会存在由于欺诈或错误而导致的重大错误陈述。
在编制综合财务报表时，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
事宜，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，或别无其他实际替代方案。
董事亦负责监督 贵集团的财务申报程序。审核委员
会就此协助董事履行职责。
核数师就审核综合财务报表承担的责任
吾等的目标是对综合财务报表整体是否不存在由于欺
诈或错误而导致的重大错误陈述取得合理保证，并出
具载有吾等意见的核数师报告。吾等仅按照香港公司
条例第405条向全体股东出具本报告，除此之外不作
其他用途。吾等并不就本报告的内容对任何其他人士
负责或承担责任。
合理保证属高层次的核证，惟根据香港审计准则进行
的审核工作不能保证总能察觉所存在的重大错误陈述。
错误陈述可因欺诈或错误而产生，倘个别或整体在合
理预期情况下可影响使用者根据综合财务报表作出的
经济决定时，则被视为重大错误陈述。
DIRECTORS’ RESPONSIBILITIES FOR THE
CONSOLIDATED FINANCIAL STATEMENTS
The directors are responsible for the preparation of the consolidated
financial statements that give a true and fair view in acordance
with HKFRS Acounting Standards as isued by the HKICPA
and the disclosure requirements of the Hong Kong Companies
Ordinance, and for such internal control as the directors determine
is necesary to enable the preparation of consolidated financial
statements that are fre from material mistatement, whether due
to fraud or eror.
In preparing the consolidated financial statements, the directors
are responsible for asesing the Group’s ability to continue as a
going concern, disclosing, as aplicable, maters related to going
concern and using the going concern basis of acounting unles
the directors either intend to liquidate the Group or to cease
operations, or have no realistic alternative but to do so.
The directors are also responsible for overseing the Group’s
financial reporting proces. The Audit Comite asists the
directors in discharging their responsibility in this regard.
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. This report is made
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.
IBI Group Holdings Limited
Anual Report 2024/2025
INDEPENDENT AUDITOR’S REPORT
独立核数师报告
在根据香港审计准则进行审计的过程中，吾等运用专
业判断并保持专业怀疑态度。吾等亦：
• 识别及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
以应对该等风险，以及获取充足和适当的审计凭
证，作为吾等意见的基础。由于欺诈可能涉及串
谋、伪造、蓄意遗漏、虚假陈述或凌驾内部监控
的情况，故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，惟并非旨在对 贵集团的内部监控成效发
表意见。
• 评估董事所采用会计政策的恰当性以及所作出会
计估计及相关披露的合理性。
• 对董事采用持续经营会计基础的恰当性作出结
论，并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。倘吾
等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。
倘有关披露不足，则修订吾等的意见。吾等的结
论乃基于截至核数师报告日期止所取得的审计凭
证。然而，未来事件或情况可能导致 贵集团无
法持续经营。
- 、结构及内容，
包括披露资料，以及综合财务报表是否中肯反映
相关交易及事件。
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.
- ’ 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.
IBI Group Holdings Limited
2024/2025年度报告
INDEPENDENT AUDITOR’S REPORT
独立核数师报告
• 计划及进行集团审核以就 贵集团内实体或业务
单位的财务资料获取充足及适当的审计凭证，作
为对集团财务报表发表意见的基础。吾等负责指
导、监督及审阅就集团审计进行的工作。吾等为
审核意见承担全部责任。
吾等与审核委员会就（其中包括）审计的规划范围、时
间安排及重大审计发现进行沟通，该等发现包括吾等
在审计过程中识别的任何重大内部监控缺失。
吾等亦向审核委员会作出声明，指出吾等已符合有关
独立性的相关道德要求，并与彼等沟通可能被合理认
为会影响吾等独立性的所有关系及其他事宜，以及在
适用的情况下，用以消除对独立性产生威胁的行动或
采取的防范措施。
从与董事沟通的事项中，吾等厘定对本期间综合财务
报表的审计至关重要的事项，因而构成关键审计事项。
吾等在核数师报告中描述该等事项，除非法律或法规
不允许公开披露该等事项，或在极端罕见的情况下，
倘合理预期在吾等的报告中沟通某事项造成的负面后
果超出产生的公众利益，则吾等决定不应在报告中传
达该事项。
香港立信德豪会计师事务所有限公司
执业会计师
何绮雯
执业证书号码：P07395
香港，二零二五年六月二十六日
• 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 work performed for the purpose of the group audit. We
remain solely responsible for our audit opinion.
We comunicate with the Audit Comite regarding, among
other maters, the planed scope and timing of the audit and
significant audit findings, including any significant deficiencies in
internal control that we identify during our audit.
We also provide the Audit Comite with a statement that
we have complied with relevant ethical requirements regarding
independence, and to comunicate with them al relationships
and other maters that may reasonably be thought to bear on our
independence, and where aplicable, action taken to eliminate
threats or safeguards aplied.
From the maters comunicated with the directors, 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.
BDO Limited
Certified Public Acountants
Ho Ye Man
Practising Certificate number: P07395
Hong Kong, 26 June 2025
| 2025 | 2024 | |||
|---|---|---|---|---|
| 二零二五年 | 二零二四年 | |||
| Notes | HK$’000 | HK$’000 | ||
| 附注 | 千港元 | 千港元 |
| 330,863 |
|---|
| 545 |
| 331,408 |
| (287,105) |
| 44,303 |
| 612 |
| (265) |
| (30,029) |
| (4,189) |
| 10,432 |
| (1,911) |
| 8,521 |
| 8,390 |
| 131 |
| 8,521 |
| (19) |
| (19) |
| 8,502 |
| 8,371 |
| 131 |
| 8,502 |
| 1.0 |
IBI Group Holdings Limited
Anual Report 2024/2025
CONSOLIDATED STATEMENT OF PROFIT OR LOS
AND OTHER COMPREHENSIVE INCOME
综合损益及其他全面收益表
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
Revenue收益7530,582
Other gains/(loses)其他收益╱（亏损）7(3,336)
Revenue and other gains/(loses)收益及其他收益╱（亏损）527,246
Direct costs直接成本(480,433)
Gros profit毛利46,813
Other income其他收入8977
Change in fair value of investment property投资物业的公平值变动18(10,135)
Administrative and other operating
expenses
行政及其他经营开支
(30,666)
Finance costs融资成本9(4,368)
Profit before income tax expense除所得税开支前溢利102,621
Income tax expense所得税开支11(2,320)
Profit for the year年内溢利301
Profit for the year atributable to:以下人士应占年内溢利：
— Owners of the Company— 本公司拥有人350
— Non-controling interests— 非控股权益(49)
Other comprehensive income,
after tax
其他税后全面收入
Items that may be reclasified
subsequently to profit or los:
其后可重新分类至损益的项目：
Exchange diferences arising on
translation of foreign operations
换算海外业务产生的汇兑差额
(223)
Other comprehensive income
for the year
年内其他全面收入
(223)
Total comprehensive income
for the year
年内全面收入总额
Total comprehensive income
atributable to:
以下人士应占全面收入总额：
— Owners of the Company— 本公司拥有人127
— Non-controling interests— 非控股权益(49)
Earnings per share:每股盈利：
Basic and diluted (HK Cents)基本及摊薄（港仙）140.0
| 2025 | 2024 | |||
|---|---|---|---|---|
| 二零二五年 | 二零二四年 | |||
| Notes | HK$’000 | HK$’000 | ||
| 附注 | 千港元 | 千港元 |
| 85 |
|---|
| 1,669 |
| 7,208 |
| 115,368 |
| – |
| 124,330 |
| 167,225 |
| 36,098 |
| 10,970 |
| 337 |
| 14,695 |
| 748 |
| 18,358 |
| 248,431 |
| 123,151 |
| 1,759 |
| 80,263 |
| 244 |
| 205,417 |
| 43,014 |
| 167,344 |
| – |
| – |
| – |
| 167,344 |
| 8,000 |
| 160,469 |
| 168,469 |
| (1,125) |
| 167,344 |
IBI Group Holdings Limited
2024/2025年度报告
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
综合财务状况表
As at 31 March 2025
于二零二五年三月三十一日
Non-curent asets非流动资产
Property, plant and equipment物业、厂房及设备15129
Right-of-use asets使用权资产164,174
Financial asets at fair value through
profit or los
按公平值计入损益的金融资产
176,663
Investment property投资物业18113,176
Prepayment预付款项202,754
Total non-curent asets非流动资产总值126,896
Curent asets流动资产
Contract asets合约资产19209,580
Trade and other receivables贸易及其他应收款项2038,498
Property under development发展中物业2110,956
Inventories存货444
Pledged deposits已抵押存款2213,407
Tax recoverable可收回税项48
Cash and cash equivalents现金及现金等价物21,105
Total curent asets流动资产总值294,038
Curent liabilities流动负债
Trade and other payables贸易及其他应付款项23173,908
Lease liabilities租赁负债252,580
Bank borowings银行借款2423,520
Tax payables应付税项1,848
Total curent liabilities流动负债总额201,856
Net curent asets流动资产净值92,182
Total asets les curent liabilities总资产减流动负债219,078
Non-curent liabilities非流动负债
Lease liabilities租赁负债251,759
Bank borowings银行借款2454,477
Total non-curent liabilities非流动负债总额56,236
NET ASETS资产净值162,842
Capital and reserves资本及储备
Share capital股本268,000
Reserves储备156,098
Equity atributable to owners
of the Company
本公司拥有人应占权益
164,098
Non-controling interests非控股权益(1,256)
TOTAL EQUITY权益总额162,842
On behalf of directors代表董事
Neil David HOWARDSteven Paul SMITHERS
DirectorDirector
董事董事
| Equity attributable to owners of the Company | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| 本公司拥有人应占权益 | |||||||||
| Share capital | Share premium | Merger reserve | Retained profits | Translation reserve | Total | Non- controlling interest | Total | ||
| 股本 | 股份溢价 | 合并储备 | 保留溢利 | 换算储备 | 总计 | 非控股权益 | 总计 | ||
| HK$’000 | HK$’000 | HK$’000 | HK$’000 | HK$’000 | HK$’000 | HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | 千港元 | 千港元 | 千港元 | 千港元 | 千港元 | 千港元 | ||
| (Note 26) | (Note (i)) | (Note (ii)) | |||||||
| （附注26） | （附注(i)） | （附注(ii)） | |||||||
IBI Group Holdings Limited
Anual Report 2024/2025
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
综合权益变动表
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
At 1 April 2023于二零二三年四月一日8,00073,613(13,511)95,232637163,971(1,207)162,764
Profit for the year年内溢利–350–350(49)301
Other comprehensive income其他全面收入
— Exchange diferences on
translation of foreign operations
— 换算海外业务的汇兑差额
–(223)(223)–(223)
Total comprehensive income
for the year
年内全面收入总额
–350(223)127(49)78
Dividend declared and paid (Note 13)已宣派及派付股息（附注13）–
At 31 March 2024于二零二四年三月三十一日8,00073,613(13,511)95,582414164,098(1,256)162,842
Profit for the year年内溢利–8,390–8,3901318,521
Other comprehensive income其他全面收入
— Exchange diferences on
translation of foreign operations
— 换算海外业务的汇兑差额
–(19)(19)–(19)
Total comprehensive income
for the year
年内全面收入总额
–8,390(19)8,3711318,502
Dividend declared and paid (Note 13)已宣派及派付股息（附注13）–(4,000)–(4,000)–(4,000)
At 31 March 2025于二零二五年三月三十一日8,00073,613(13,511)99,972395168,469(1,125)167,344
Notes:
(i) Share premium
Share premium acount of the Group represents the exces of the
proceds received over the nominal value of the Company’s shares
isued.
(i) Merger reserve
The merger reserve represents the diference betwen the investment
costs in subsidiaries and the nominal value of the isued share capital of
the Group’s subsidiaries.
附注：
(i) 股份溢价
本集团股份溢价账指所收取款项超出本公司已发行股份面
值的部分。
(i) 合并储备
合并储备指于附属公司的投资成本与本集团旗下附属公司
已发行股本面值之间的差额。
| 2025 | 2024 | |||
|---|---|---|---|---|
| 二零二五年 | 二零二四年 | |||
| Notes | HK$’000 | HK$’000 | ||
| 附注 | 千港元 | 千港元 |
| 10,432 |
|---|
| 75 |
| 2,505 |
| (545) |
| 265 |
| 221 |
| 3,968 |
| (511) |
| – |
| – |
| 151 |
| 16,561 |
| 42,355 |
| – |
| 2,354 |
| (14) |
| 107 |
| (50,740) |
| 10,623 |
| (4,216) |
| 6,407 |
| (31) |
| 8,435 |
| (9,723) |
| – |
| 511 |
| (808) |
IBI Group Holdings Limited
2024/2025年度报告
CONSOLIDATED STATEMENT OF CASH FLOWS
综合现金流量表
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
Cash flows from operating activities经营活动现金流量
Profit before income tax expense除所得税开支前溢利2,621
Adjustments for:就以下各项调整：
Depreciation of property,
plant and equipment
物业、厂房及设备折旧
Depreciation of right-of-use asets使用权资产折旧2,555
Net fair value (gains)/loses on
financial asets at fair value through
profit or los (“FVTPL”)
按公平值计入损益
（「按公平值计入损益」）的
金融资产之公平值
（收益）╱亏损净额3,336
Change in fair value of investment property投资物业公平值变动10,135
Interest expenses on lease liabilities租赁负债的利息开支147
Interest expenses on bank borowings银行借款的利息开支4,221
Interest income利息收入(912)
Write of of inventories存货撇销3
Write down of inventories存货撇减17
Foreign exchange los, net汇兑亏损净额–
Operating profit before working
capital changes
营运资金变动前经营溢利
22,552
Decrease/(increase) in contract asets合约资产减少╱（增加）(119,969)
Decrease in contract liabilities合约负债减少(492)
Decrease/(increase) in trade and
other receivables
贸易及其他应收款项
减少╱（增加）(19,413)
Increase in properties under development发展中物业增加(13)
Decrease in inventories存货减少16
(Decrease)/increase in trade and
other payables
贸易及其他应付款项
（减少）╱增加98,561
Cash generated from/(used in) operations经营所得╱（所用）现金(18,758)
Income tax paid已付所得税(835)
Net cash generated from/(used in)
operating activities
经营活动所得╱（所用）现金净额
(19,593)
Cash flows from investing activities投资活动现金流量
Purchase of property,
plant and equipment
购买物业、厂房及设备
(72)
Withdrawal of pledged deposits提取有抵押存款6,672
Placement of pledged deposits存入有抵押存款(13,593)
Prepayment for enhancement of
investment property
提升投资物业的预付款项
(2,769)
Interest received已收利息912
Net cash used in investing
activities
投资活动所用现金净额
(8,850)
| 2025 | 2024 | |||
|---|---|---|---|---|
| 二零二五年 | 二零二四年 | |||
| Notes | HK$’000 | HK$’000 | ||
| 附注 | 千港元 | 千港元 |
| 9,838 |
|---|
| (7,405) |
| (2,580) |
| (221) |
| (3,982) |
| (4,000) |
| (8,350) |
| (2,751) |
| 21,105 |
| 4 |
| 18,358 |
| 18,358 |
IBI Group Holdings Limited
Anual Report 2024/2025
CONSOLIDATED STATEMENT OF CASH FLOWS
综合现金流量表
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
Cash flows from financing activities融资活动现金流量
Proceds from bank borowings银行借款所得款项3120,000
Repayment of bank borowings偿还银行借款31(22,217)
Repayment of principal element of
lease liabilities
偿还租赁负债本金部分
31(2,428)
Payment of interest element of
lease liabilities
支付租赁负债利息部分
31(147)
Interest paid on bank borowings已付银行借款利息31(4,997)
Dividend paid已付股息13–
Net cash used in financing
activities
融资活动所用现金净额
(9,789)
Net decrease in cash and
cash equivalents
现金及现金等价物减少净额
(38,232)
Cash and cash equivalents at
begining of year
年初现金及现金等价物
58,870
Efect of foreign exchange
rate changes
外汇率变动的影响
Cash and cash equivalents at
end of year
年末现金及现金等价物
21,105
Analysis of the balances of cash
and cash equivalents
现金及现金等价物结余分析
Cash at banks and in hand银行及手头现金21,105
IBI Group Holdings Limited
2024/2025年度报告
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
1. GENERAL INFORMATION
The Company was incorporated in the Cayman Islands as an
exempted company with limited liability on 6 April 2016 under
the Companies Law, Cap.22 (Law 3 of 1961, as consolidated
and revised) of the Cayman Islands. The details of controling
shareholder of the Company are disclosed in the directors’
report section to the anual report. The adres of its
registered ofice is One Nexus Way, Camana Bay, Grand
Cayman, KY1-9005, Cayman Islands. Its principal place
of busines is located at 3/F, Bangkok Bank Building, 18
Bonham Strand West, Hong Kong.
The shares of the Company were listed on the Main Board
of The Stock Exchange of Hong Kong Limited (the “Stock
Exchange”) on 14 October 2016 (the “Listing”).
The Company is an investment holding company. The
principal activities of the Group are to act as a building
contractor focusing on providing renovation services as a
main contractor for property projects in the private sector in
Hong Kong and Macau (“Contracting”), strategic investments,
property investments and provision of products and services
with a focus on air quality, energy eficiency and modern
sustainable building materials.
2. ADOPTION OF HKFRS ACOUNTING
STANDARDS
(a) Adoption of new/amended HKFRS Acounting
Standards — efective 1 April 2024
Amendments to
HKAS 1
Clasification of Liabilities as
Curent or Non-curent and
related amendments to Hong
Kong Interpretation 5 (2020)
Amendments to
HKAS 1
Non-curent Liabilities with
Covenants
Amendments to
HKFRS 16
Lease Liability in a Sale and
Leaseback
Amendments to
HKAS 7 and
HKFRS 7
Suplier Finance Arangements
1. 一般资料
本公司于二零一六年四月六日根据开曼群岛法
例第22章公司法（一九六一年第三号法律，经综
合及修订）在开曼群岛注册成立为获豁免有限公
司。本公司控股东的详情于年报的董事会报告
一节披露。其注册办事处地址为One Nexus Way,
Camana Bay, Grand Cayman, KY1-9005, Cayman
Islands。其主要营业地点位于香港文咸西街18号
盘谷银行大厦3楼。
本公司股份于二零一六年十月十四日在香港联合
交易所有限公司（「联交所」）主板上市（「上市」）。
本公司为投资控股公司。本集团主要业务为作为
专注于提供翻新服务的建筑承建商，担任香港及
澳门私营机构物业项目的总承建商（「承建」）、策
略投资、物业投资及提供专注于空气质量、能效
及现代可持续性建筑材料的产品及服务。
2. 采纳香港财务报告准则会计准则
(a) 采纳新订╱经修订香港财务报告准则会计
准则 — 自二零二四年四月一日起生效
香港会计准则第1号
修订本
负债分类为流动或非流
动及香港诠释第5号
的相关修订（二零二
零年）
香港会计准则第1号
修订本
附带契诺的非流动负债
香港财务报告准则
第16号修订本
售后租回租赁负债
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
IBI Group Holdings Limited
Anual Report 2024/2025
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
- （续）
(a) 采纳新订╱经修订香港财务报告准则会计
准则 — 自二零二四年四月一日起生效（续）
采纳该等经修订香港财务报告准则会计准
则并无对本集团于本年度及过往年度的综
合财务状况及表现及╱或载于该等综合财
务报表的披露造成重大影响。
(b) 已颁布但尚未生效的新订╱经修订香港财
务报告准则会计准则
下列可能与本集团综合财务报表相关的新
订╱经修订香港财务报告准则会计准则已
经颁布但尚未生效，亦未获本集团提早采
纳。本集团现拟于该等准则生效日期应用
该等变动。
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9号
及香港财务报告准则
第7号修订本
金融工具的分类及计量
香港财务报告准则会计准则的年度改进 — 第11卷
香港财务报告准则第10号
及香港会计准则第28号
修订本
投资者与其联营公司或
合营企业之间的资产
出售或注资
香港财务报告准则第18号财务报表的呈列及披露
香港财务报告准则第19号非公共受托责任之附属
公司：披露
于二零二五年一月一日或之后开始的年度期
间生效
于二零二六年一月一日或之后开始的年度期
间生效
于二零二七年一月一日或之后开始的年度期
间生效
于香港会计师公会厘定的日期或之后开始的
年度期间生效
2. ADOPTION OF HKFRS ACOUNTING
STANDARDS (CONTINUED)
(a) Adoption of new/amended HKFRS Acounting
Standards — efective 1 April 2024 (Continued)
The adoption of these amended HKFRS Acounting
Standards has no material impact on the Group’s
consolidated financial positions and performance for
the curent and prior years and/or on the disclosures
set out in these consolidated financial statements.
(b) New/amended HKFRS Acounting Standards
that have ben isued but are not yet efective
The folowing new/amended HKFRS Acounting
Standards, potentialy relevant to the Group’s
consolidated financial statements, have ben isued,
but are not yet efective and have not ben early
adopted by the Group. The Group’s curent intention
is to aply these changes on the date they become
efective.
Amendments to HKAS 21Lack of Exchangeability
Amendments to HKFRS 9 and
HKFRS 7
Clasification and Measurement of
Financial Instruments
Anual Improvements to HKFRS Acounting Standards — Volume 11
Amendments to HKFRS 10 and
HKAS 28
Sale or Contribution of Asets
betwen an Investor and its
Asociate or Joint Venture
HKFRS 18Presentation and Disclosure in
Financial Statements
HKFRS 19Subsidiaries without Public
Acountability: Disclosures
Efective for anual periods begining on or after 1 January
Efective for anual periods begining on or after 1 January
Efective for anual periods begining on or after 1 January
Efective for anual periods begining on or after a date to
be determined by HKICPA
IBI Group Holdings Limited
2024/2025年度报告
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
- （续）
(b) 已颁布但尚未生效的新订╱经修订香港财
务报告准则会计准则（续）
除以下所述新订香港财务报告准则会计准
则及其修订本外，本公司董事预期应用香
港财务报告准则会计准则的所有其他新订
准则及修订本于可预见未来不会对综合财
务报表造成重大影响。
香港财务报告准则第18号财务报表的呈列
及披露
香港财务报告准则第18号财务报表的呈列
及披露载有财务报表的呈列及披露规定，
将取代香港会计准则第1号财务报表的呈
列。该新订香港财务报告准则会计准则继
承香港会计准则第1号中多项规定，并引入
新规定，即在损益表中呈列指定类别及定
义的小计，在财务报表附注中披露管理层
界定的绩效指标，以及改进财务报表中所
披露资料的汇总及分类。此外，香港会计
准则第1号的若干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号每股盈利亦已作出轻微修订。
香港财务报告准则第18号及其他准则的修
订将于二零二七年一月一日或之后开始的
年度期间生效，并允许提早应用。预期应
用新订准则将影响未来财务报表中损益表
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
具体影响。
2. ADOPTION OF HKFRS ACOUNTING
STANDARDS (CONTINUED)
(b) New/amended HKFRS Acounting Standards
that have ben isued but are not yet efective
(Continued)
Except for the new and amendments to HKFRS
Acounting Standards mentioned below, the directors
of the Company anticipate that the aplication of al
other new and amendments to HKFRS Acounting
Standards wil have no material impact on the
consolidated financial statements in the foreseable
future.
HKFRS 18 Presentation and Disclosure in
Financial Statements
HKFRS 18 Presentation and Disclosure in Financial
Statements, 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.
IBI Group Holdings Limited
Anual Report 2024/2025
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
3. 编制基准
(a) 合规声明
本集团的综合财务报表乃依照香港会计师
公会颁布的香港财务报告准则、香港会计
准则（「香港会计准则」）及诠释（统称为「香
港财务报告准则会计准则」）以及联交所证
券上市规则及香港公司条例规定的适用披
露规定编制。
(b) 计量基准
综合财务报表乃按历史成本基准编制，惟
如下文载列的重大会计政策资料所述按公
平值计量的若干金融工具及投资物业则除外。
(c) 功能及呈列货币
综合财务报表以港元（「港元」，亦为本公
司及其附属公司（IBI Macau Limited及IBI
International Investments Limited除外）的功
能货币）呈列，除另有列明者外，所有数值
已约整至最接近的千位数。
3. BASIS OF PREPARATION
(a) Statement of compliance
The consolidated financial statements of the Group
have ben prepared in acordance with the Hong
Kong Financial Reporting Standards, Hong Kong
Acounting Standards (“HKASs”) and Interpretations
(colectively “HKFRS Acounting Standards”) isued
by the HKICPA and the aplicable disclosure required
by the Rules Governing the Listing of Securities on the
Stock Exchange and by the Hong Kong Companies
Ordinance.
(b) Basis of measurement
The consolidated financial statements have ben
prepared under the historical cost basis except for
certain financial instruments and investment property,
which are measured at fair value as explained in the
material acounting policy information set out below.
(c) Functional and presentation curency
The consolidated financial statements are presented in
Hong Kong dolars (“HK$”), which is the same as the
functional curency of the Company and its subsidiaries
other than IBI Macau Limited and IBI International
Investments Limited, and al values are rounded to the
nearest thousand except when otherwise stated.
IBI Group Holdings Limited
2024/2025年度报告
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
4. 重大会计政策资料
(a) 综合基准及附属公司
综合财务报表包括本公司及附属公司的财
务报表。集团公司之间的公司间交易及结
余连同未变现溢利于编制综合财务报表时
悉数对销。未变现亏损亦予对销，惟倘交
易提供所转让资产的减值证据，则亏损于
损益确认。
于本公司的财务状况表中，于一间附属公
司之投资乃按成本减值亏损（如有）列账。
本公司按已收及应收股息基准将附属公司
业绩入账。
(b) 物业、厂房及设备
物业、厂房及设备按成本减累计折旧及累
计减值亏损（如有）列账。
物业、厂房及设备的成本包括其购入价及
收购该等项目直接应占的成本。
物业、厂房及设备采用直线法按估计可使
用年期计提折旧以撇销其成本（经扣除预期
剩余价值）。可使用年期、剩余价值及折旧
方法于各报告期末检讨并于适当情况下作
出调整。估计可使用年期如下：
办公设备及装备3至5年或按租期，
以较短者为准
倘资产的账面值高于其估计可收回金额，
则资产会即时撇减至其可收回金额（附注
4(l)）。
4. MATERIAL ACOUNTING POLICY
INFORMATION
(a) Basis of consolidation and subsidiaries
The consolidated financial statements comprise the
financial statements of the Company and subsidiaries.
Inter-company transactions and balances betwen
group companies together with unrealised profits are
eliminated in ful in preparing the consolidated financial
statements. Unrealised loses are also eliminated
unles the transaction provides evidence of impairment
on the aset transfered, in which case the los is
recognised in profit or los.
In the Company’s statement of financial position,
investment in a subsidiary is stated at cost les
impairment los, if any. The result of a subsidiary is
acounted for by the Company on the basis of dividend
received and receivable.
(b) Property, plant and equipment
Property, plant and equipment are stated at cost les
acumulated depreciation and acumulated impairment
loses, if any.
The cost of property, plant and equipment includes its
purchase price and the costs directly atributable to the
acquisition of the items.
Property, plant and equipment are depreciated so as to
write of their cost net of expected residual value over
their estimated useful lives on a straight-line basis. The
useful lives, residual value and depreciation method
are reviewed, and adjusted if apropriate, at the end of
each reporting period. The estimated useful lives are as
folows:
Ofice equipment and
fitings
3–5 years or over the leases
terms, whichever the shorter
An aset is writen down imediately to its recoverable
amount if its carying amount is higher than the aset’s
estimated recoverable amount (Note 4(l).
IBI Group Holdings Limited
Anual Report 2024/2025
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
- （续）
(c) 投资物业
投资物业指为赚取租金或为资本增值或两
者兼有而持有的物业，但并非在日常业务
过程中为出售、用于生产或供应货品或服
务或作行政用途而持有。投资物业于初始
确认时按成本计量，其后按公平值计量，
当中任何变动于在损益中确认。
(d) 金融工具
(i) 金融资产
金融资产初步按公平值计量，对于并
非按公平值计入损益（「按公平值计入
损益」）的项目，则再加上与其收购或
发行直接相关的交易成本计量。收购
按公平值计入损益的金融资产直接应
占的交易成本即时于损益确认。
债务工具
债务工具的后续计量取决于本集团管
理该资产的业务模式以及该资产的现
金流量特征。本集团按两个类别计量
其债务工具：
摊销成本：持作收取合约现金流量的
资产按摊销成本计量，其中有关现金
流量纯粹指本金及利息付款。按摊销
成本入账的金融资产其后使用实际利
率法计量。利息收入、外汇收益及亏
损以及减值于损益确认。终止确认的
任何收益乃于损益确认。
4. MATERIAL ACOUNTING POLICY
INFORMATION (CONTINUED)
(c) Investment property
Investment property is property held either to earn
rentals or for capital apreciation or for both, but not
held for sale in the ordinary course of busines, use
in the production or suply of gods or services or
for administrative purposes. Investment property is
measured at cost on initial recognition and subsequently
at fair value with any change therein recognised in profit
or los.
(d) Financial instruments
(i) Financial asets
A financial aset is initialy measured at fair value
plus, for an item not measured at fair value
through profit or los (“FVTPL”), transaction costs
that are directly atributable to its acquisition or
isue. Transaction costs directly atributable to
the acquisition of financial asets at FVTPL are
recognised imediately in profit or los.
Debt instruments
Subsequent measurement of debt instruments
depends on the Group’s busines model
for managing the aset and the cash flow
characteristics of the aset. There are two
measurement categories into which the Group
clasifies its debt instruments measured at:
Amortised cost: Asets that are held for colection
of contractual cash flows where those cash flows
represent solely payments of principal and interest
are measured at amortised cost. Financial asets
at amortised cost are subsequently measured
using the efective interest method. Interest
income, foreign exchange gains and loses and
impairment are recognised in profit or los. Any
gain on derecognition is recognised in profit or
los.
IBI Group Holdings Limited
2024/2025年度报告
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
- （续）
(d) 金融工具（续）
(i) 金融资产（续）
债务工具（续）
「按公平值计入损益」：按公平值计入
损益的金融资产包括持作买卖的金融
资产、于初始确认时指定为按公平值
计入损益的金融资产或强制要求按公
平值计量的金融资产。倘收购金融资
产的目的为作短期出售或购回用途，
则该等金融资产分类为持作买卖。现
金流量并非仅为支付本金及利息的金
融资产分类为按公平值计入损益计量，
而不论其业务模式如何。
(i) 金融资产的减值亏损
本集团就贸易应收款项、合约资产、
按摊销成本计量的金融资产确认预期
信贷亏损（「预期信贷亏损」）的亏损拨
备。预期信贷亏损按以下其中一项基
准计量：(1)12个月预期信贷亏损：此
乃于报告期间结束后12个月内可能发
生的违约事件所导致的预期信贷亏损；
及(2)年限内预期信贷亏损：此乃于金
融工具预计年期内所有可能发生的违
约事件所导致的预期信贷亏损。于估
计预期信贷亏损时考虑的最长期间为
本集团面临信贷风险的最长合约期间。
4. MATERIAL ACOUNTING POLICY
INFORMATION (CONTINUED)
(d) Financial instruments (Continued)
(i) Financial asets (Continued)
Debt instruments (Continued)
“FVTPL”: Financial asets at fair value through
profit or los include financial asets held for
trading, financial asets designated upon initial
recognition at fair value through profit or los,
or financial asets mandatorily required to be
measured at fair value. Financial asets are
clasified as held for trading if they are acquired
for the purpose of seling or repurchasing in the
near term. Financial asets with cash flows that
are not solely payments of principal and interest
are clasified and measured at fair value through
profit or los, irespective of the busines model.
(i) Impairment los on financial asets
The Group recognises los alowances for
expected credit loses (“ECLs”) on trade
receivables, contract asets, financial asets
measured at amortised cost. The ECLs are
measured on either of the folowing bases: (1)
12 months ECLs: these are the ECLs that result
from posible default events within the 12 months
after the end of reporting period; and (2) lifetime
ECLs: these are ECLs that result from al posible
default events over the expected life of a financial
instrument. The maximum period considered
when estimating ECLs is the maximum
contractual period over which the Group is
exposed to credit risk.
IBI Group Holdings Limited
Anual Report 2024/2025
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
- （续）
(d) 金融工具（续）
(i) 金融资产的减值亏损（续）
预期信贷亏损为信贷亏损的概率加权
估计。信贷亏损乃按根据合约应付本
集团所有合约现金流量与本集团预期
收取所有现金流量之间的差额计量。
该差额其后按与资产原有实际利率相
若的水平贴现。
本集团已选择采用香港财务报告准则
第9号简化法计量贸易应收款项及合
约资产的亏损拨备，并根据年限内预
期信贷亏损计算预期信贷亏损。本集
团已建立根据本集团过往信贷亏损经
验计算的拨备矩阵，并按债务人特定
的前瞻性因素及经济环境作出调整。
就其他债务金融资产而言，预期信贷
亏损以12个月预期信贷亏损为基准计
算。然而，自发生以来信贷风险显著
增加时，拨备将按年限内预期信贷亏
损为基准计算。
于评估金融工具的信贷风险有否自初
步确认后显著增加时，本集团会将于
报告日期所评估金融工具发生违约风
险与于初始确认日期所评估金融工具
发生违约风险进行比较。
4. MATERIAL ACOUNTING POLICY
INFORMATION (CONTINUED)
(d) Financial instruments (Continued)
(i) Impairment los on financial asets
(Continued)
ECLs are a probability-weighted estimate of
credit loses. Credit loses are measured as
the diference betwen al contractual cash
flows that are due to the Group in acordance
with the contract and al the cash flows that the
Group expects to receive. The shortfal is then
discounted at an aproximation to the asets’
original efective interest rate.
The Group has elected to measure los
alowances for trade receivables and contract
asets using HKFRS 9 simplified aproach and
has calculated ECLs based on lifetime ECLs.
The Group has established a provision matrix
that is based on the Group’s historical credit
los experience, adjusted for forward-loking
factors specific to the debtors and the economic
environment.
For other debt financial asets, the ECLs are
based on the 12 months ECLs. However, when
there has ben a significant increase in credit risk
since origination, the alowance wil be based on
the lifetime ECLs.
In asesing whether the credit risk of a financial
instrument has increased significantly since
initial recognition, the Group compares the risk
of default ocuring on the financial instrument
asesed at the reporting date with that asesed
at the date of initial recognition.
IBI Group Holdings Limited
2024/2025年度报告
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
- （续）
(d) 金融工具（续）
(i) 金融资产的减值亏损（续）
当厘定金融资产的信贷风险有否自初
步确认后显著增加，且于估计预期信
贷亏损时，本集团会考虑相关及无须
付出过度成本或努力后即可获得的合
理可靠资料。此包括根据本集团的过
往经验及已知信贷评估得出定量及定
性的资料分析，并包括前瞻性资料。
本集团假定合约付款逾期超过90日即
表示金融资产的信贷风险已大幅增加。
本集团认为金融资产于下列情况下存
在信贷减值：(1)在本集团并无进行追
索（例如变现抵押（如持有）的情况下
借款人不大可能向本集团悉数支付其
信贷责任；或(2)该金融资产逾期超过
365日。
本集团认为倘金融资产逾期超过365
日，则违约已经发生，惟本集团拥有
合理有据资料证明一项更滞后的违约
标准更为合适，则另作别论。
存在信贷减值的金融资产的利息收入
按该金融资产的摊销成本（即账面总
值减亏损拨备）计算。不存在信贷减
值的金融资产的利息收入按账面总值
计算。
4. MATERIAL ACOUNTING POLICY
INFORMATION (CONTINUED)
(d) Financial instruments (Continued)
(i) Impairment los on financial asets
(Continued)
When determining whether the credit risk of a
financial aset has increased significantly since
initial recognition and when estimating ECLs, the
Group considers reasonable and suportable
information that is relevant and available
without undue cost or efort. This includes both
quantitative and qualitative information analysis,
based on the Group’s historical experience
and informed credit asesment and including
forward-loking information.
The Group asumes that the credit risk on a
financial aset has increased significantly if the
contractual payments are more than 90 days past
due.
The Group considers a financial aset to be
credit-impaired when: (1) the borower is unlikely
to pay its credit obligations to the Group in ful,
without recourse by the Group to actions such as
realising security (if any is held); or (2) the financial
aset is more than 365 days past due.
The Group considers that default has ocured
when a financial aset is more than 365 days
past due unles the Group has reasonable and
suportable information to demonstrate that a
more laging default criterion is more apropriate.
Interest income on credit-impaired financial asets
is calculated based on the amortised cost (i.e. the
gros carying amount les los alowance) of the
financial aset. For non-credit-impaired financial
asets interest income is calculated based on the
gros carying amount.
IBI Group Holdings Limited
Anual Report 2024/2025
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
- （续）
(d) 金融工具（续）
(i) 金融负债
本集团视乎负债产生的目的划分金融
负债。按摊销成本列账的金融负债初
步按公平值减所产生直接应占成本计
量。
按摊销成本列账的金融负债
按摊销成本列账的金融负债（包括贸
易及其他应付款项以及银行借款）其
后采用实际利率法按摊销成本计量。
相关利息开支于损益确认。
收益或亏损于终止确认负债时透过摊
销于损益内确认。
(iv) 终止确认
凡收取金融资产所带来的未来现金流
量的合约权利届满，或金融资产经已
转让，而转让符合香港财务报告准则
第9号规定的终止确认标准，则本集
团终止确认该金融资产。
当相关合约订明的责任获解除、注销
或届满时，则会终止确认金融负债。
4. MATERIAL ACOUNTING POLICY
INFORMATION (CONTINUED)
(d) Financial instruments (Continued)
(i) Financial liabilities
The Group clasifies its financial liabilities,
depending on the purpose for which the liabilities
were incured. Financial liabilities at amortised
costs are initialy measured at fair value, net of
directly atributable costs incured.
Financial liabilities at amortised cost
Financial liabilities at amortised cost including
trade and other payables and bank borowings
are subsequently measured at amortised cost,
using the efective interest method. The related
interest expense is recognised in profit or los.
Gains or loses are recognised in profit or los
when the liabilities are derecognised as wel as
through the amortisation proces.
(iv) Derecognition
The Group derecognises a financial aset when
the contractual rights to the future cash flows
in relation to the financial aset expire or when
the financial aset has ben transfered and the
transfer mets the criteria for derecognition in
acordance with HKFRS 9.
Financial liabilities are derecognised when the
obligation specified in the relevant contract is
discharged, canceled or expires.
IBI Group Holdings Limited
2024/2025年度报告
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
- （续）
(e) 租赁
所有租赁（不论为经营租赁或融资租赁）须
于综合财务状况表资本化为使用权资产及
租赁负债，惟实体拥有会计政策选择，可
选择不将(i)属短期租赁的租赁及╱或(i)相
关资产为低价值的租赁进行资本化。本集
团已选择不就低价值资产以及于开始日期
租赁期少于12个月的租赁确认使用权资产
及租赁负债。与该等租赁相关的租赁付款
已于租赁期内按直线法支销。
使用权资产
使用权资产应按成本确认并将包括：(i)租赁
负债的初步计量金额（见下文有关租赁负债
入账的会计政策）；(i)于开始日期或之前作
出的任何租赁款项减任何已收取的租赁优
惠；(i)承租人产生的任何初步直接成本；
及(iv)承租人拆除及移除相关资产至租赁条
款及条件规定状况时将产生的估计成本，
为生产存货而产生的该等成本则除外。本
集团应用成本模式计量使用权资产。根据
成本模式，本集团按成本减任何累计折旧
及任何减值亏损计量使用权资产，并就租
赁负债的任何重新计量作出调整。本集团
已在租赁协议项下租赁若干物业，而租赁
协议项下的物业所产生的使用权资产按折
旧成本列账。
4. MATERIAL ACOUNTING POLICY
INFORMATION (CONTINUED)
(e) Leasing
Al leases (irespective of they are operating leases or
finance leases) are required to be capitalised in the
consolidated statement of financial position as right-of-
use asets and lease liabilities, but acounting policy
choices exist for an entity to chose not to capitalise (i)
leases which are short-term leases and/or (i) leases for
which the underlying aset is of low-value. The Group
has elected not to recognise right-of-use asets and
lease liabilities for low-value asets and leases for which
at the comencement date have a lease term les than
12 months. The lease payments asociated with those
leases have ben expensed on straight-line basis over
the lease term.
Right-of-use aset
The right-of-use aset should be recognised at cost
and would comprise: (i) the amount of the initial
measurement of the lease liability (se below for the
acounting policy to acount for lease liability); (i) any
lease payments made at or before the comencement
date, les any lease incentives received; (i) any initial
direct costs incured by the lese and (iv) an estimate
of costs to be incured by the lese in dismantling
and removing the underlying aset to the condition
required by the terms and conditions of the lease,
unles those costs are incured to produce inventories.
The Group measures the right-of-use asets aplying
a cost model. Under cost model, the Group measures
the right-to-use asets at cost, les any acumulated
depreciation and any impairment loses, and adjusted
for any remeasurement of lease liability. The Group
has leased a number of properties under tenancy
agrements and the right-of-use aset arising from the
properties under tenancy agrements are caried at
depreciated cost.
IBI Group Holdings Limited
Anual Report 2024/2025
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
- （续）
(e) 租赁（续）
租赁负债
租赁负债按于租赁开始日期未付之租赁付
款之现值确认。租赁付款按本集团之增量
借款利率贴现。
于租赁期内之并非于租赁开始日期支付之
相关资产使用权所作固定付款减去租赁优
惠被视为租赁付款，并计入本集团的租赁
负债。
于开始日期后，本集团将透过下列方式计
量租赁负债：(i)增加账面值以反映租赁负债
之利息；(i)减少账面值以反映作出之租赁
付款；及(i)重新计量账面值以反映任何重
估或租赁修改，如指数或利率变动导致日
后租赁付款变动、租赁期变动、实质固定
租赁付款变动或购买相关资产之评估变动。
本集团于综合财务状况表内单独呈列租赁
负债。
4. MATERIAL ACOUNTING POLICY
INFORMATION (CONTINUED)
(e) Leasing (Continued)
Lease liability
The lease liability is recognised at the present value
of the lease payments that are not paid at the date of
comencement of the lease. The lease payments are
discounted using the Group’s incremental borowing
rate.
The fixed payments les lease incentive for the right-to-
use of the underlying aset during the lease term that
are not paid at the comencement date of the lease
are considered to be lease payments and be included
in the Group’s lease liabilities.
Subsequent to the comencement date, the
Group measures the lease liability by: (i) increasing
the carying amount to reflect interest on the lease
liability; (i) reducing the carying amount to reflect
the lease payments made; and (i) remeasuring the
carying amount to reflect any reasesment or lease
modifications, e.g., a change in future lease payments
arising from change in an index or rate, a change in the
lease term, a change in the in substance fixed lease
payments or a change in asesment to purchase the
underlying aset.
The Group presents lease liabilities as a separate line
item on the consolidated statement of financial position.
IBI Group Holdings Limited
2024/2025年度报告
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
- （续）
(e) 租赁（续）
作为出租人之会计处理
本集团向多名租户出租投资物业。来自经
营租赁之租金收入于相关租赁之年期内以
直线基准在损益内确认。磋商及安排经营
租赁时产生之初始直接成本添加至租赁资
产之账面金额，并于租期内以直线基准确
认为开支，惟按公平值模式计量的投资物
业除外。
源自本集团日常业务过程的租赁收入均呈
列为收益。
(f) 发展中的物业
发展中物业按成本与可变现净值的较低者
列账。成本包括土地成本、开发开支及其
他归属开支。可变现净值指管理层根据现
行市况厘定的物业估计售价减估计完成
本及进行销售必要的估计成本。
4. MATERIAL ACOUNTING POLICY
INFORMATION (CONTINUED)
(e) Leasing (Continued)
Acounting as a lesor
The Group has leased out its investment property to
a number of tenants. Rental income from operating
leases is recognised in profit or los on a straight-line
basis over the term of the relevant lease. Initial direct
costs incured in negotiating and aranging an operating
lease are aded to the carying amount of the leased
aset and recognised as an expense on the straight-
line basis over the lease term except for investment
property measured under fair value model.
Rental income which are derived from the Group’s
ordinary course of busines are presented as revenue.
(f) Property under development
Properties under development are stated at the lower
of cost and net realisable value. Cost includes the
cost of land, development expenditure and other
atributable expenses. Net realisable value represents
the estimated seling price for the properties determined
by management based on prevailing market conditions
les estimated cost to completion and costs necesary
to make the sales.
IBI Group Holdings Limited
Anual Report 2024/2025
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
- （续）
(g) 所得税
所得税包括即期税项及递延税项。
即期税项乃基于日常业务的损益（就所得税
而言对毋须课税或可扣减项目作出调整），
按报告期末已颁布或实质已颁布的税率计算。
递延税项乃就作财务申报用途之资产及负
债之账面值与报税所用相应金额之间之暂
时差额确认。
递延税项资产账面值于各报告日期进行检
讨，并在不再可能有足够应课税溢利以收
回全部或部分资产时作调减。
本集团以公平值计量的投资物业在递延税
项确认及计量方面完全透过出售收回的假
定已被推翻，原因为该等物业是在一种业
务模式下持有，而该业务模式的目标是透
过长期使用来消耗其绝大部分经济利益。
4. MATERIAL ACOUNTING POLICY
INFORMATION (CONTINUED)
(g) Income taxes
Income taxes comprise curent tax and defered tax.
Curent tax is based on the profit or los from ordinary
activities adjusted for items that are non-asesable or
deductible for income tax purposes and is calculated
using tax rates that have ben enacted or substantively
enacted at the end of reporting period.
Defered tax is recognised in respect of temporary
diferences betwen the carying amounts of asets
and liabilities for financial reporting purposes and the
coresponding amounts used for tax purposes.
The carying amount of defered tax asets is reviewed
at each reporting date 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 asets to be
recovered.
The presumption that the Group’s investment property
measured at fair value is recovered entirely through
sale for defered tax recognition and measurement
is rebuted as they are held within a busines model
whose objective is to consume substantialy al of its
economic benefits through use over time.
IBI Group Holdings Limited
2024/2025年度报告
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
- （续）
(h) 雇员福利
(i) 定额供款退休计划
当雇员提供服务时，向定额供款退休
计划作出的供款于损益内确认为开支。
(i) 其他雇员权益
短期雇员福利指终止福利以外的雇员
福利，预期于雇员提供相关服务的年
度报告期间结束后十二个月内结清。
短期雇员福利于雇员提供相关服务的
年度内确认。
雇员享有年假的权益于雇员应享受年
假时予以确认。已就雇员截至报告期
末所提供服务产生的估计年假责任作
出拨备。雇员享有病假的权益于雇员
使用病假时方予确认。
4. MATERIAL ACOUNTING POLICY
INFORMATION (CONTINUED)
(h) Employe benefits
(i) Defined contribution retirement plan
Contributions to defined contribution retirement
plans are recognised as an expense in profit
or los when the services are rendered by the
employes.
(i) Other employe entitlements
Short term employe benefits are employe
benefits (other than termination benefits) that
are expected to be setled wholy before twelve
months after the end of the anual reporting
period in which the employes render the
related service. Short term employe benefits
are recognised in the year when the employes
render the related service.
Employe entitlements to anual leave are
recognised when they acrue to the employes.
A provision is made for the estimated liability for
anual leave as a result of services rendered by
employes up to the end of the reporting period.
Employe entitlements to sick leave are not
recognised until the time of leave.
IBI Group Holdings Limited
Anual Report 2024/2025
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
- （续）
(i) 收益确认
来自客户合约的收益于货品或服务的控制
权转移至客户时确认，其金额反映本集团
预期就换取该等货品或服务有权收取的代
价，惟不包括代表第三方收取的金额。收
益不包括增值税或其他销售税，并已扣除
任何贸易折扣。
根据合约条款及适用于合约的法例，货品
或服务的控制权可随时间或于某一时间点
转移。倘本集团履约时出现以下情况，则
货品或服务的控制权随时间转移：
- ；
- ，创造或提升客户控
制的资产；或
- ，
且本集团对迄今已完成履约的付款具
有可强制执行的权利。
倘货品或服务的控制权随时间转移，则于
合约期间参照全面履行该履约责任的进度
确认收益。否则，收益于客户获得货品或
服务控制权的时间点确认。
4. MATERIAL ACOUNTING POLICY
INFORMATION (CONTINUED)
(i) Revenue recognition
Revenue from contracts with customers is recognised
when control of gods or services is transfered to the
customers at an amount that reflects the consideration
to which the Group expects to be entitled in exchange
for those gods or services, excluding those amounts
colected on behalf of third parties. Revenue excludes
value aded tax or other sales taxes and is after
deduction of any trade discounts.
Depending on the terms of the contract and the laws
that aply to the contract, control of the gods or
service may be transfered over time or at a point in
time. Control of the gods 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.
If control of the gods or services 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 gods or service.
IBI Group Holdings Limited
2024/2025年度报告
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
- （续）
(i) 收益确认（续）
(i) 来自承建的收益
本集团决定，各翻新合约只有一项履
约义务。根据各合约条款，本集团按
合约要求于客户指定地点施工，本集
团的履约行为创造或提升客户于本集
团履约时已控制的资产。
随时间转移的翻新服务收益乃参考迄
今已产生合约成本占预期总成本的比
例采用输入法逐步确认，以描述向客
户转让货品或服务的控制权。
本集团仅会在可合理计量全面达成履
约责任的进展的情况下随时间确认收
益。然而，倘本集团无法合理计量有
关结果，但预期可收回于达成履约责
任时产生的成本，则会按已产生成本
确认收益。
4. MATERIAL ACOUNTING POLICY
INFORMATION (CONTINUED)
(i) Revenue recognition (Continued)
(i) Revenue from Contracting
The Group has determined that each renovation
contract has only a single performance obligation.
Under the terms of each contract, the Group is
contractualy required to perform construction
works at the customers’ specified sites that
the Group’s performance creates or enhances
asets that the customer controls as the Group
performs.
Revenue from renovation services transfered
over time is recognised progresively using input
method by reference to the proportion of contract
costs incured to date compared to expected
total cost, which depict the transfer of control of
the gods or services to the customer.
The Group recognises revenue over time only if
it can reasonably measure its progres toward
complete satisfaction of the performance
obligation. However, if the Group canot
reasonably measure the outcome but expects
to recover the costs incured in satisfying the
performance obligation, then it recognises
revenue to the extent of the costs incured.
IBI Group Holdings Limited
Anual Report 2024/2025
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
- （续）
(i) 收益确认（续）
(i) 来自承建的收益（续）
合约修改（即更改订单）于客户批准时
予以确认。一般而言，修改建筑合约
不会作为单独合约入账。合约修改入
账列作犹如现有合约的一部分，因此
构成单一履约责任的一部分，于合约
修改之日部分达成。合约修改对合约
金额以及对本集团计量完全达成履约
责任的进度之影响，于合约修改之日
确认为收益调整（作为收益增幅或减
幅）（即收益调整乃按累积追赶基准进
行）。尚未协定价格变动的经批准修
改及其他申索则按照与可变代价相关
的规定入账，即代价金额按本集团就
向客户转移货品或服务而有权获得者
估计。可变代价受到限制，直至已确
认累计收益金额极不可能出现重大收
益拨回为止。
倘于任何时候完成合约的成本估计超
过合约下的代价余额，则按照繁重合
约的会计政策确认拨备。
4. MATERIAL ACOUNTING POLICY
INFORMATION (CONTINUED)
(i) Revenue recognition (Continued)
(i) Revenue from Contracting (Continued)
Contract modification (i.e. variation order) are
recognised when they are aproved by customer.
Generaly modification to construction contract
is not acounted for as a separate contract.
Contract modification is acounted for as if it
were a part of the existing contract and, therefore,
form part of a single performance obligation that
is partialy satisfied at the date of the contract
modification. The efect that the contract
modification has on the contract sum and on the
Group’s measures of progres towards complete
satisfaction of the performance obligation, is
recognised as an adjustment to revenue (either
as an increase in or a reduction of revenue) at
the date of the contract modification (i.e. the
adjustment to revenue is made on a cumulative
catch-up basis). For aproved modifications
where a change in price has not ben agred
and other claims, they are acounted for
folowing the requirements in relation to variable
consideration that the amount of consideration is
estimated to which the Group wil be entitled in
exchange for transfering the gods or services
to the customer. The variable consideration
is constrained until it is highly probable that a
significant revenue reversal in the amount of
cumulative revenue recognised wil not ocur.
If at any time the costs to complete the contract
are estimated to exced the remaining amount of
the consideration under the contract, a provision
is recognised in acordance with the acounting
policy for onerous contracts.
IBI Group Holdings Limited
2024/2025年度报告
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
- （续）
(i) 收益确认（续）
(i) 来自Building Solutions的收益
专注于空气质量及可持续性建筑材料
的产品贸易收益通常仅包括一项履约
责任。本集团认为来自专注于空气质
量及可持续性建筑材料的产品贸易收
益应于产品控制权转移予客户之时间
点确认，一般为当产品交付予客户以
及过时及损失风险转移予客户时。
(i) 租金收入
租金收入按直线基准于有关租赁期限
内确认。
(iv) 股息收入
按公平值计入损益的金融资产的股息
收入于收取股息的权利确立时确认。
4. MATERIAL ACOUNTING POLICY
INFORMATION (CONTINUED)
(i) Revenue recognition (Continued)
(i) Revenue from Building Solutions
Revenue for trading of products with a focus
on air quality and sustainable building materials
generaly includes only one performance
obligation. The Group has concluded that revenue
from trading of products with a focus on air
quality and sustainable building materials should
be recognised at the point in time when control
of the products is transfered to the customer,
generaly when the products are delivered to and
the risks of obsolescence and los have ben
transfered to customer.
(i) Rental income
Rental income is recognised on a straight-line
basis over the terms of the relevant leases.
(iv) Dividend income
Dividend income from financial asets at fair value
through profit or los is recognised when the right
to receive the dividend is established.
IBI Group Holdings Limited
Anual Report 2024/2025
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
- （续）
(j) 建筑合约
合约资产及负债
合约资产指本集团就换取其已转移至客户
的服务收取代价的权利，惟该权利尚未成
为无条件。合约资产根据香港财务报告准
则第9号金融工具（「香港财务报告准则第9
号」）进行减值评估。相对而言，应收款项
指本集团收取代价的无条件权利，即代价
到期付款前仅需时间推移。
合约资产于本集团完成有关服务合约项下
的建筑工程但尚未经工程师、测量师或客
户委任的其他代表认证时确认。先前确认
为合约资产的任何金额在向客户开具发票
时重新分类至贸易应收款项。
客户保留以确保合约妥为履行的应收保留
金属合约资产性质。当符合保留金所附带
的条件时（即缺陷责任期届满时），客户解
除应收保留金，而有关应收保留金性质上
已成为贸易应收款项。
合约负债指本集团就其已向客户收取的代
价（或到期的代价金额）而向该客户转移服
务的责任。
倘代价（包括已收客户垫款）超过迄今根据
输入法确认的收益，则本集团就差额确认
合约负债。
与相同合约有关的合约资产及合约负债按
净额基准入账及呈列。
4. MATERIAL ACOUNTING POLICY
INFORMATION (CONTINUED)
(j) Construction contracts
Contract asets and liabilities
A contract aset represents the Group’s right to
consideration in exchange for services that the
Group has transfered to a customer that is not
yet unconditional. It is asesed for impairment in
acordance with HKFRS 9 Financial Instruments
(“HKFRS 9”). In contrast, a receivable represents the
Group’s unconditional right to consideration, i.e. only
the pasage of time is required before payment of that
consideration is due.
Contract aset is recognised when the Group
completes the construction works under such services
contracts but yet certified by architects, surveyors or
other representatives apointed by customers. Any
amount previously recognised as a contract aset is
reclasified to trade receivables at the point at which it
is invoiced to the customer.
Retention receivables retained by customers to secure
for the due performance of the contracts are contract
asets in nature. When the conditions atached to
retention monies are fulfiled (i.e. at expiry of the defect
liability period), the retention receivables are released by
customers and such retention receivables have become
trade receivables in nature.
A contract liability represents the Group’s obligation to
transfer services to a customer for which the Group has
received consideration (or an amount of consideration
is due) from the customer.
If the considerations (including advances received from
customers) exceds the revenue recognised to date
under the input method then the Group recognises a
contract liability for the diference.
A contract aset and a contract liability relating to the
same contract are acounted for and presented on a
net basis.
IBI Group Holdings Limited
2024/2025年度报告
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
- （续）
(k) 拨备及或然负债
当本集团因过往事件负有法律或推定责任，
而该责任可能引致能够合理估计的经济利
益流出时，就时间或金额不确定的负债确
认拨备。
当不太可能需要经济利益流出，或金额不
能可靠估计时，则责任披露为或然负债，
除非经济利益流出的可能性甚微。其存在
仅可由一项或多项未来事件的出现与否确
定的潜在责任亦披露为或然负债，除非经
济利益流出的可能性甚微。
(l) 资产减值（金融资产除外）
于各报告期末，本集团检讨物业、厂房及
设备及使用权资产的账面值，以厘定是否
有任何迹象显示该等资产已出现减值亏损。
倘存在任何该等迹象，本集团应估计资产
的可收回金额。倘资产所产生之现金流量
并非大致独立于其他资产或资产组别所产
生之现金流量，则估计该资产所属现金产
生单位之可收回金额。
倘资产╱现金产生单位的可收回金额（即公
平值减出售成本与使用价值两者的较高者）
估计少于其账面值，则该项资产╱现金产
生单位的账面值将调减至其可收回金额。
减值亏损即时确认为开支。
4. MATERIAL ACOUNTING POLICY
INFORMATION (CONTINUED)
(k) Provisions and contingent liabilities
Provisions are recognised for liabilities of uncertain
timing or amount when the Group has a legal or
constructive obligation arising as a result of a past
event, which wil probably result in an outflow of
economic benefits that can be reasonably estimated.
Where it is not probable that an outflow of economic
benefits wil be required, or the amount canot be
estimated reliably, the obligation is disclosed as a
contingent liability, unles the probability of outflow
of economic benefits is remote. Posible obligations,
the existence of which wil only be confirmed by the
ocurence or non-ocurence of one or more future
events, are also disclosed as contingent liabilities
unles the probability of outflow of economic benefits is
remote.
(l) Impairment of asets (other than financial
asets)
At the end of each reporting period, the Group reviews
the carying amounts of property, plant and equipment
and right-of-use asets to determine whether there
is any indication that those asets have sufered an
impairment los. If any such indication exists, the Group
shal estimate the recoverable amount of the aset. If
the aset does not generate cash flows that are largely
independent of those from other asets or group of
asets, the recoverable amount of the cash-generating
unit for which the asets belongs to is estimated.
If the recoverable amount (i.e. the greater of the fair
value les costs of disposal and value in use) of an
aset/cash-generating unit is estimated to be les than
its carying amount, the carying amount of the aset/
cash-generating unit is reduced to its recoverable
amount. An impairment los is recognised as an
expense imediately.
IBI Group Holdings Limited
Anual Report 2024/2025
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
- （续）
(l) 资产减值（金融资产除外）（续）
倘减值亏损其后拨回，则资产账面值将提
高至其修订后的估计可收回金额，惟受限
于经提高的账面值不得超过往年度该项
资产在并无确认减值亏损的情况下原应厘
定的账面值。拨回的减值亏损即时确认为
收入。
使用价值乃基于预期自资产或现金产生单
位产生的估计未来现金流量，而估计未来
现金流量乃采用反映当前市场对货币时间
价值的评估及资产特定风险的税前贴现率
贴现至其现值。
5. 估计不确定性的主要来源
在应用本集团的会计政策时，董事须就不能从其
他来源方便得到的资产与负债的账面值作出判断、
估计及假设。该等估计及有关假设乃根据过往经
验及被视为相关的其他因素作出。实际结果或会
有别于该等估计。
本集团持续检讨有关估计及相关假设。如会计估
计的修订只影响修订估计的期间，则于该期间确
认有关修订；如会计估计的修订对当期及未来期
间均有影响，则于修订当期及未来期间确认有关
修订。
4. MATERIAL ACOUNTING POLICY
INFORMATION (CONTINUED)
(l) Impairment of asets (other than financial
asets) (Continued)
Where an impairment los subsequently reverses, the
carying amount of the aset is increased to the revised
estimate of its recoverable amount, to the extent 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
in prior years. A reversal of an impairment los is
recognised as income imediately.
Value in use is based on the estimated future cash
flows expected to be derived from the aset or cash-
generating unit, 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.
5. KEY SOURCES OF ESTIMATION
UNCERTAINTY
In the aplication of the Group’s acounting policies, the
directors are required to make judgement, 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 period in which the estimate is revised if the
revision afects only that period or in the period of the revision
and future periods if the revision afects both curent and
future periods.
IBI Group Holdings Limited
2024/2025年度报告
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
- （续）
除该等财务报表其他章节所披露资料外，具有可
导致资产与负债的账面值于下一个财政年度内出
现大幅调整的重大风险的估计不确定性其他主要
来源如下：
(i) 确认合约收益
本集团根据管理层对一段时间内建造合约
的履约责任完成进度的估计就个别项目确
认合约收益，有关合约收益采用输入法计
量，并已参照迄今所进行工程产生的合约
成本占估计合约总成本的比例。本集团随
合约进度检讨及修改就各合约所编制合约
收益、合约成本、合约修改（即变更令）及
合约索偿的估计。预算合约收入根据相关
合约所载条款厘定。预算合约成本（主要包
括分包费用及物料成本）由管理层根据主要
承包商、供应商或有关卖方不时提供的报
价以及管理层的经验编制。为保持预算准
确及贴近最新情况，管理层透过比较预算
金额与实际产生金额及经工料测量师证实
的所执行工作价值（倘适用）定期检讨管理
层预算。
5. KEY SOURCES OF ESTIMATION
UNCERTAINTY (CONTINUED)
In adition to information disclosed elsewhere in these
financial statements, other key sources of estimation
uncertainty that have significant risks of resulting in material
adjustments to the carying amounts of asets and liabilities
within next financial year are as folows:
(i) Recognition of contract revenue
Contract revenue recognition on individual projects
are dependent on management’s estimation of the
progres of the satisfaction of performance obligations
of a construction contract over time, measuring using
input method, with reference to the proportion that
contract costs incured for work performed to date to
the estimated total costs for the contracts. The Group
reviews and revises the estimates of contract revenue,
contract costs, contract modification (i.e. variation
order) and contract claims prepared for each contract
as the contract progreses. Budgeted contract income
is determined in acordance with the terms set out in
the relevant contracts. Budgeted contract costs which
mainly comprise subcontracting charges and cost of
materials are prepared by the management on the
basis of quotations from time to time provided by the
major contractors, supliers or vendors involved and
the experience of the management. In order to kep
the budget acurate and up-to-date, the management
conducts periodic reviews on the management budgets
by comparing the budgeted amounts to the actual
amounts incured and the value of work performed as
certified by quantity surveyors where aplicable.
IBI Group Holdings Limited
Anual Report 2024/2025
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
- （续）
(i) 金融资产及合约资产减值
本集团基于有关违约风险及预期信贷亏损
率的假设作出金融资产及合约资产亏损拨
备。本集团运用判断基于本集团过往历史、
现行市场状况以及各报告期末的前瞻性估
计作出该等假设及选择用于减值计算的输
入数据。
于二零二五年三月三十一日，金融资产
及合约资产账面值分别约为68,206,000
港元（二零二四年：72,428,000港元）
及167,225,000港元（二零二四年：
209,580,000港元）。
(i) 投资物业公平值
诚如附注4(c)及18所述，投资物业乃根据
独立专业估值师进行的估值按公平值列账。
于厘定公平值时，估值师已采用估值方法，
当中包括对不可观察输入数据—市场租金、
贴现率、物业品质的溢价或折让及最终资
本化率的估计。董事已行使其判断，并信
纳估值方法反映当前市况。
于二零二五年三月三十一日，投资物业账
面值约为115,368,000港元（二零二四年：
113,176,000港元）。
5. KEY SOURCES OF ESTIMATION
UNCERTAINTY (CONTINUED)
(i) Impairment of financial asets and contract
asets
The Group makes los alowance on financial asets
and contract asets based on asumptions about risk
of default and expected credit los rates. The Group
uses judgement in making these asumptions and
selecting the inputs to the impairment calculation,
based on the Group’s past history, existing market
conditions as wel as forward loking estimates at the
end of each reporting period.
The carying amounts of financial asets and contract
asets as at 31 March 2025 are aproximately
HK$68,206,000 (2024: HK$72,428,000) and
HK167,225,000 (2024: HK$209,580,000) respectively.
(i) Fair value of investment property
As described in Notes 4(c) and 18, investment property
is stated at fair value based on the valuation performed
by an independent profesional valuer. In determining
the fair value, the valuer has based on methods of
valuation which involves unobservable inputs —
estimates in market rental, discount rate, premium
or discount for quality of properties and terminal
capitalisation rate. The directors have exercised
their judgement and are satisfied that the method of
valuation is reflective of the curent market conditions.
The carying amount of investment property as at 31
March 2025 is aproximately HK$115,368,000 (2024:
HK$113,176,000).
IBI Group Holdings Limited
2024/2025年度报告
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
6. 分部报告
本公司执行董事（为本集团的主要营运决策人（「主
要营运决策人」）审阅本集团的内部报告以评估
表现及分配资源。管理层已基于本公司执行董事
审阅的报告厘定用以作出策略决定的经营分部。
截至二零二五年及二零二四年三月三十一日止年
度，本集团有四个可报告分部。由于各业务提供
不同的服务及需要不同的业务策略，该等分部分
开管理。以下概述本集团各可报告分部的营运：
符合香港财务报告准则第15号范围的来自客户
的合约收益：
- — 于香港及澳门私营机构物业项目担
任总承建商提供翻新服务
- — 提供产品及服务，专注
于空气质量、能效及现代可持续性建筑材
料
来自其他渠道的收益：
- — 投资于上市证券及房地产开发
- — 于爱尔兰租赁物业的相关收入
6. SEGMENT REPORTING
The executive directors of the Company, who are the chief
operating decision-makers (“CODM”) of the Group, review
the Group’s internal reporting in order to ases performance
and alocate resources. Management has determined the
operating segments based on reports reviewed by the
executive directors of the Company that are used to make
strategy decision.
During the years ended 31 March 2025 and 2024, the Group
has four reportable segments. The segments are managed
separately as each busines ofers diferent services and
requires diferent busines strategies. The folowing sumary
describes the operations in each of the Group’s reportable
segments:
Revenue from contracts with customers within the scope of
HKFRS 15:
- — provision of renovation services as a
main contractor for property projects in the private
sector in Hong Kong and Macau
- — provision of products and services
with a focus on air quality, energy eficiency and
modern sustainable building materials
Revenue from other sources:
- — investment in listed securities
and property development
- — rental income from leasing of
property in Ireland
| Contracting | Building Solutions | Strategic Investments | Property Investment | Total | ||
|---|---|---|---|---|---|---|
| 承建 | Building Solutions | 策略投资 | 物业投资 | 总计 | ||
| HK$’000 | HK$’000 | HK$’000 | HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | 千港元 | 千港元 | 千港元 |
| 313,817 | 8,895 | 1,075 | 8,450 | 332,237 |
|---|---|---|---|---|
| (829) | – | – | – | (829) |
| 312,988 | 8,895 | 1,075 | 8,450 | 331,408 |
| 7,395 | 570 | 941 | 2,503 | 11,409 |
| 511 | ||||
| (1,488) | ||||
| 10,432 | ||||
IBI Group Holdings Limited
Anual Report 2024/2025
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
- （续）
(a) 截至二零二五年及二零二四年三月三十一
日止年度的分部收益及业绩：
截至二零二五年三月三十一日止年度
6. SEGMENT REPORTING (CONTINUED)
(a) The segment revenue and results for the years ended
31 March 2025 and 2024:
Year ended 31 March 2025
Total segment revenue and
other gains
分部收益及其他
收益总额
Inter-segment revenue分部间收益
Total revenue from
external customers and
other sources
来自外部客户及其他
渠道的收益总额
Segment profit分部溢利
Unalocated bank interest
income
未分配银行利息收入
Unalocated corporate
expenses
未分配公司开支
Profit before income tax
expense
除所得税开支前溢利
| Contracting | Building Solutions | Strategic Investments | Property Investment | Total | ||
|---|---|---|---|---|---|---|
| 承建 | Building Solutions | 策略投资 | 物业投资 | 总计 | ||
| HK$’000 | HK$’000 | HK$’000 | HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | 千港元 | 千港元 | 千港元 |
IBI Group Holdings Limited
2024/2025年度报告
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
- （续）
(a) 截至二零二五年及二零二四年三月三十一
日止年度的分部收益及业绩：（续）
截至二零二四年三月三十一日止年度
分部间交易的定价乃参考类似订单向外部
各方收取的价格。
截至二零二五年及二零二四年三月三十一
日止年度，分部业绩指各分部在并无分配
若干银行利息收入及公司开支的情况下赚
取的溢利或产生的亏损。此乃就资源分配
及表现评估向主要营运决策人报告的方式。
6. SEGMENT REPORTING (CONTINUED)
(a) The segment revenue and results for the years ended
31 March 2025 and 2024: (Continued)
Year ended 31 March 2024
Total segment revenue and
other (loses)/gains
分部收益及其他
（亏损）╱收益总额516,8085,622(2,843)7,659527,246
Inter-segment revenue分部间收益–
Total revenue from
external customers and
other sources
来自外部客户及其他
渠道的收益总额
516,8085,622(2,843)7,659527,246
Segment profit/(los)分部溢利╱（亏损）15,172(281)(3,151)(8,062)3,678
Unalocated bank interest
income
未分配银行利息收入
Unalocated corporate
expenses
未分配公司开支
(1,969)
Profit before income tax
expense
除所得税开支前溢利
2,621
Inter-segment transactions are priced with reference to
prices charged to external parties for similar order.
Segment results represent the profit earned or los
incured by each segment without alocation of certain
bank interest income and corporate expenses for the
years ended 31 March 2025 and 2024. This is the
measure reported to the CODM for the purposes of
resource alocation and performance asesment.
| Contracting | Building Solutions | Strategic Investments | Property Investments | Total | ||
|---|---|---|---|---|---|---|
| 承建 | Building Solutions | 策略投资 | 物业投资 | 总计 | ||
| HK$’000 | HK$’000 | HK$’000 | HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | 千港元 | 千港元 | 千港元 |
| 224,986 | 1,295 | 18,183 | 118,836 | 363,300 |
|---|---|---|---|---|
| 9,461 | ||||
| 372,761 | ||||
| 148,819 | 1,135 | 20 | 54,896 | 204,870 |
| 547 | ||||
| 205,417 | ||||
| Contracting | Building Solutions | Strategic Investments | Property Investment | Total | ||
|---|---|---|---|---|---|---|
| 承建 | Building Solutions | 策略投资 | 物业投资 | 总计 | ||
| HK$’000 | HK$’000 | HK$’000 | HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | 千港元 | 千港元 | 千港元 |
IBI Group Holdings Limited
Anual Report 2024/2025
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
- （续）
(b) 于二零二五年及二零二四年三月三十一日
的分部资产及负债如下：
截至二零二五年三月三十一日止年度
截至二零二四年三月三十一日止年度
6. SEGMENT REPORTING (CONTINUED)
(b) The segment asets and liabilities as at 31 March 2025
and 2024 are as folows:
Year ended 31 March 2025
Segment asets分部资产
Unalocated asets未分配资产
Segment liabilities分部负债
Unalocated liabilities未分配负债
Year ended 31 March 2024
Segment asets分部资产267,4393,53917,670117,638406,286
Unalocated asets未分配资产14,648
420,934
Segment liabilities分部负债197,7561,2442058,343257,363
Unalocated liabilities未分配负债729
258,092
| Contracting | Building Solutions | Strategic Investments | Property Investments | Segment Total | Unallocated | Consolidated | ||
|---|---|---|---|---|---|---|---|---|
| 承建 | Building Solutions | 策略投资 | 物业投资 | 分部总计 | 未分配 | 综合 | ||
| HK$’000 | HK$’000 | HK$’000 | HK$’000 | HK$’000 | HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | 千港元 | 千港元 | 千港元 | 千港元 | 千港元 |
| 281,788 | 5,314 | 3 | – | 287,105 | – | 287,105 |
|---|---|---|---|---|---|---|
| – | – | – | – | – | 511 | 511 |
| (815) | (38) | – | (3,336) | (4,189) | – | (4,189) |
| – | – | – | (265) | (265) | – | (265) |
| (75) | – | – | – | (75) | – | (75) |
| (2,068) | (437) | – | – | (2,505) | – | (2,505) |
| – | – | 545 | – | 545 | – | 545 |
| 31 | – | – | – | 31 | – | 31 |
IBI Group Holdings Limited
2024/2025年度报告
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
- （续）
(b) 于二零二五年及二零二四年三月三十一日
的分部资产及负债如下：（续）
就监管分部表现及于分部间分配资源而言：
— 截至二零二五年及二零二四年三月
三十一日止年度所有资产均分配至可
报告及经营分部，惟若干其他应收款
项及若干现金及现金等价物除外；及
— 截至二零二五年及二零二四年三月
三十一日止年度所有负债均分配至可
报告及经营分部，惟若干其他应付款
项除外。
(c) 其他分部资料
截至二零二五年三月三十一日止年度：
6. SEGMENT REPORTING (CONTINUED)
(b) The segment asets and liabilities as at 31 March 2025
and 2024 are as folows: (Continued)
For the purposes of monitoring segment performances
and alocating resources among segments:
— al asets are alocated to reportable and
operating segments other than certain other
receivables and certain cash and cash equivalents
for the years ended 31 March 2025 and 2024;
and
— al liabilities are alocated to reportable and
operating segments other than certain other
payables for the years ended 31 March 2025 and
2024.
(c) Other segment information
For the year ended 31 March 2025:
Amount included in the
measure of segment profit
or los or segment asets:
计量分部溢利或亏损
或分部资产时所计
及的金额：
Direct costs直接成本
Interest income利息收入
Interest expenses利息开支
Change in fair value of
investment property
投资物业的
公平值变动
Depreciation of property,
plant and equipment
物业、厂房及
设备折旧
Depreciation of right-of-use
asets
使用权资产折旧
Net fair value (loses)/gains
on financial asets
at FVTPL
按公平值计入损益的
金融资产的公平值
（亏损）╱收益净额
Aditions of property,
plant and equipment
添置物业、厂房
及设备
| Contracting | Building Solutions | Strategic Investments | Property Investments | Segment Total | Unallocated | Consolidated | ||
|---|---|---|---|---|---|---|---|---|
| 承建 | Building Solutions | 策略投资 | 物业投资 | 分部总计 | 未分配 | 综合 | ||
| HK$’000 | HK$’000 | HK$’000 | HK$’000 | HK$’000 | HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | 千港元 | 千港元 | 千港元 | 千港元 | 千港元 |
IBI Group Holdings Limited
Anual Report 2024/2025
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
- （续）
(c) 其他分部资料（续）
截至二零二四年三月三十一日止年度：
6. SEGMENT REPORTING (CONTINUED)
(c) Other segment information (Continued)
For the year ended 31 March 2024:
Amount included in the
measure of segment profit
or los or segment asets:
计量分部溢利或亏损
或分部资产时所计
及的金额：
Direct costs直接成本477,6282,7969–480,433–480,433
Interest income利息收入–912912
Interest expenses利息开支(856)(27)–(3,485)(4,368)–(4,368)
Change in fair value of
investment property
投资物业的
公平值变动–(10,135)(10,135)–(10,135)
Depreciation of property,
plant and equipment
物业、厂房及
设备折旧(127)(302)–(429)–(429)
Depreciation of right-of-use
asets
使用权资产折旧
(2,164)(391)–(2,555)–(2,555)
Net fair value (loses)/gains
on financial asets
at FVTPL
按公平值计入损益的
金融资产的公平值
（亏损）╱收益净额–(3,336)–(3,336)–(3,336)
Aditions of property,
plant and equipment
添置物业、厂房
及设备72–72–72
Write-of of inventories存货撇销–(3)–(3)–(3)
Write-down of inventories存货撇减–(17)–(17)–(17)
| Contracting | Building Solutions | Property Investments | ||
|---|---|---|---|---|
| Revenue from external customers | 来自外部客户的收益 | 承建 | Building Solutions | 物业投资 |
| HK$’000 | HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | 千港元 |
| 311,142 | 8,895 | – |
|---|---|---|
| 1,846 | – | – |
| – | – | 8,450 |
| 312,988 | 8,895 | 8,450 |
| Contracting | Building Solutions | Property Investments | ||
|---|---|---|---|---|
| Revenue from external customers | 来自外部客户的收益 | 承建 | Building Solutions | 物业投资 |
| HK$’000 | HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | 千港元 |
IBI Group Holdings Limited
2024/2025年度报告
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
- （续）
(d) 地域资料
本集团在三个主要地理区域经营 — 香港、
澳门及爱尔兰。
截至二零二五年及二零二四年三月三十一
日止年度，本集团来自外部客户承建、
Building Solutions及物业投资分部的收益分
析如下：
截至二零二五年三月三十一日止年度
截至二零二四年三月三十一日止年度
6. SEGMENT REPORTING (CONTINUED)
(d) Geographical information
The Group operates in thre principal geographical
areas — Hong Kong, Macau and Ireland.
The Group’s revenue derived from Contracting, Building
Solutions and Property Investments segments from
external customers for the years ended 31 March 2025
and 2024 are analysed as folows:
Year ended 31 March 2025
Hong Kong香港
Macau澳门
Ireland爱尔兰
Year ended 31 March 2024
Hong Kong香港516,8085,529–
Macau澳门–93–
Ireland爱尔兰–7,659
516,8085,6227,659
| As at 31 March | |||
|---|---|---|---|
| Specified non-current assets | 指定非流动资产 | 于三月三十一日 | |
| 2025 | 2024 | ||
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| 1,754 |
|---|
| 115,368 |
| 117,122 |
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 |
| 101,594 |
|---|
| 38,772 |
| 36,416 |
| N/A不适用 |
IBI Group Holdings Limited
Anual Report 2024/2025
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
- （续）
(d) 地域资料（续）
下表载列有关本集团非流动资产（「指定非
流动资产」）的分析：
上述非流动资产资料不包括按公平值计入
损益的金融资产，其乃根据有关资产的实
际位置划分。
(e) 有关主要客户的资料
来自各主要客户的收益（占本集团来自外部
客户的总收益的10%或以上）载列如下：
上述主要客户的收益均来自承建分部。
截至二零二五年三月三十一日止年度，客
户IV贡献的相应收益未占本集团来自外部
客户的总额的10%以上。
截至二零二四年三月三十一日止年度，客
户I及客户I贡献的相应收益并未占本集团
来自外部客户的总额的10%以上。
6. SEGMENT REPORTING (CONTINUED)
(d) Geographical information (Continued)
The folowing table provides an analysis of the Group’s
non-curent asets (“Specified non-curent asets”):
Hong Kong香港4,303
Ireland爱尔兰113,176
117,479
The non-curent asets information above excludes
financial asets at FVTPL and is based on the physical
locations of the respective asets.
(e) Information about major customers
Revenues from each of the major customers acounted
for 10% or more of the Group’s total revenue from
external customers are set out below:
Customer I客户IN/A不适用
Customer I客户I61,288
Customer I客户IN/A不适用
Customer IV客户IV106,466
The revenues from above major customers are al
derived from the Contracting segment.
The coresponding revenue of Customer IV does not
contribute over 10% of the Group’s total revenue from
external customers for the year ended 31 March 2025.
The coresponding revenue of Customers I and I do
not contribute over 10% of the Group’s total revenue
from external customers for the year ended 31 March
2024.
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 |
| 312,988 |
|---|
| 8,895 |
| 530 |
| 8,450 |
| 330,863 |
| 545 |
| 331,408 |
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 |
| 312,988 |
|---|
| 8,895 |
| 321,883 |
IBI Group Holdings Limited
2024/2025年度报告
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
- ╱（亏损）
于年内确认的收益及其他收益╱（亏损）包括下列
各项：
就收益确认时间而言，股息收入及租金收入不属
于香港财务报告准则第15号范围内。
本集团已对其承建的销售合约采用可行合宜计策，
因此，上述资料并不包括有关本集团达成原预计
年期为一年或以下的承建合约项下的剩余履约责
任时有权收取的收益的资料。
7. REVENUE AND OTHER GAINS/(LOSES)
Revenue and other gains/(loses) recognised during the year
comprises the folowing:
Revenue收益
Revenue from Contracting来自承建的收益516,808
Revenue from Building Solutions来自Building Solutions的收益5,622
Dividend income from financial asets at
FVTPL
按公平值计入损益的金融资产
的股息收入493
Rental income from investment property来自投资物业的租金收入
— fixed payment— 固定付款7,659
530,582
Other gains/(loses)其他收益╱（亏损）
Net fair value gains/(loses) on financial
asets at FVTPL
按公平值计入损益的金融资产的
公平值收益╱（亏损）净额(3,336)
527,246
Timing of revenue recognition within
scope of HKFRS 15:
香港财务报告准则第15号范围内
的收益确认时间：
Revenue from Contracting — Over time来自承建的收益 — 随时间516,808
Revenue from Building Solutions
— At a point in time
来自Building Solutions的收益
— 于某一时间点5,622
522,430
For timing of revenue recognition, dividend income and rental
income fal outside the scope of HKFRS 15.
The Group has aplied the practical expedient to its sales
contracts for Contracting and therefore the above information
does not include information about revenue that the Group
wil be entitled to when it satisfies the remaining performance
obligations under the contracts for Contracting that had an
original expected duration of one year or les.
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 |
| 511 |
|---|
| 97 |
| 4 |
| 612 |
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 |
| 3,968 |
|---|
| 221 |
| 4,189 |
IBI Group Holdings Limited
Anual Report 2024/2025
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
8. 其他收入
附注：
截至二零二五年三月三十一日止年度，约97,000港元为来
自建造业议会下的建造业创新及科技基金（「建造业创科基
金」）的培训补助。根据建造业创科基金的规定，本集团应
承诺将有关补助用于建筑信息模拟（「BIM」）培训及BIM软
件（限于特定供应商）。本集团并无与该等计划有关的其他
尚未履行的责任。
截至二零二四年三月三十一日止年度，政府补助约65,000
港元由香港政府支付，以供在香港参加大型展览之用。本
集团并无与该计划有关的其他尚未履行的责任。
9. 融资成本
8. OTHER INCOME
Bank interest income银行利息收入912
Government grants (Note)政府补贴（附注）65
Others其他–
Note:
For the year ended 31 March 2025, aproximately HK$97,000
represented training grants obtained from the Construction Inovation
and Technology Fund (“CITF”) under Construction Industry Council. Under
the CITF, the Group should comit to spend the grants on Building
Information Modeling (“BIM”) training and BIM Software with specific
vendors. The Group does not have other unfulfiled obligations relating to
these programs.
For the year ended 31 March 2024, the government grants of
aproximately HK$65,000 was received from the Hong Kong Government
for participation in large-scale exhibition in Hong Kong. The Group did not
have other unfulfiled obligations relating to this program.
9. FINANCE COSTS
Interest expenses on bank borowings银行借款的利息开支4,221
Interest expenses on lease liabilities租赁负债的利息开支147
4,368
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 |
| 900 |
|---|
| 75 |
| 2,505 |
| 62,677 |
| 1,568 |
| 64,245 |
| 212 |
| 151 |
| – |
| – |
| 1,049 |
IBI Group Holdings Limited
2024/2025年度报告
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
10. 除所得税开支前溢利
除所得税开支前溢利乃经扣除╱（计入）下列各项
后达致：
10. PROFIT BEFORE INCOME TAX EXPENSE
Profit before income tax expense is arived after charging/
(crediting):
Auditor’s remuneration核数师薪酬938
Depreciation of property, plant and
equipment
物业、厂房及设备折旧
Depreciation of right-of-use asets使用权资产折旧2,555
Staf costs including directors’ emoluments:员工成本（包括董事薪酬）：
— Salaries and alowances— 薪金及津贴70,878
— Contributions on defined contribution
retirement plans
— 定额供款退休计划供款
1,579
72,457
Short term leases expenses短期租赁开支230
Foreign exchange los, net汇兑亏损净额537
Write of of inventories存货撇销3
Write down of inventories存货撇减17
Direct operating expenses (including repairs
and maintenance) arising from investment
property that generated rental income
赚取租金收入的投资物业产生的
直接营运开支（包括维修及保养）
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 |
| 1,699 |
|---|
| 14 |
| 1,713 |
| 198 |
| – |
| 1,911 |
IBI Group Holdings Limited
Anual Report 2024/2025
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
11. 所得税开支
综合损益及其他全面收益表所载所得税开支金额
指：
根据香港两级利得税制度（「该制度」），本集团
一间附属公司（合资格法团）的首2,000,000港元
应课税溢利按8.25%征税，其余应课税溢利则按
16.5%征税。其他并无被选入两级利得税制度的
集团实体的溢利将继续按16.5%的税率征税。
截至二零二五年及二零二四年三月三十一日止年
度，香港利得税乃按照该制度计算。
根据澳门相关法律及法规以及基于澳门政府给予
的短期税项优惠，本集团澳门附属公司于截至二
零二四年十二月三十一日止税务年度，须就税收
起征点澳门币600,000元以上的应课税溢利，按
12%的税率缴纳所得补充税。澳门政府尚未宣布
截至二零二五年十二月三十一日止税务年度的税
收起征点。本集团于爱尔兰的附属公司须按25%
的税率缴纳公司税。
本集团已采用香港会计师公会于二零二三年七月
所颁布香港会计准则第12号有关递延税项的会
计规定的临时例外情况。因此，本集团既不确认
亦不披露有关支柱二所得税相关递延税项资产及
负债的资料。
11. INCOME TAX EXPENSE
The amount of income tax expense in the consolidated
statement of profit or los and other comprehensive income
represents:
Curent tax — Hong Kong Profits Tax即期税项 — 香港利得税
— tax for the year— 年内税项2,189
— under/(over) provision in respect
of prior years
— 过往年度拨备不足╱
（超额拨备）(7)
2,182
Curent tax — overseas即期税项 — 海外
— tax for the year— 年内税项218
— over provision in respect of prior years— 过往年度超额拨备(80)
2,320
Under the Hong Kong two-tiered profits tax rates regime (the
“Regime”), the first HK$2,000,000 of asesable profits of
one subsidiary of the Group, which is a qualifying corporation,
is taxed at 8.25% and the remaining asesable profits at
16.5%. The profits of other group entities not elected for the
two-tiered profits tax rates regime wil continue to be taxed at
16.5%.
For the years ended 31 March 2025 and 2024, Hong Kong
Profits Tax is calculated in acordance with the Regime.
Pursuant to the relevant laws and regulations in Macau and
with the short-term tax incentives granted by the Macau
Government, the Group’s subsidiary in Macau was subject
to complementary tax at the rate of 12% for taxable profits
over the tax threshold of MOP600,000 for the tax year
ended 31 December 2024. The Macau Government has not
yet anounced the tax threshold for the tax year ending 31
December 2025. The Group’s subsidiary in Ireland is subject
to corporation tax of 25%.
The Group has aplied the temporary exception isued by
the HKICPA in July 2023 from the acounting requirements
for defered taxes in HKAS 12. Acordingly, the Group neither
recognises nor discloses information about defered tax
asets and liabilities related to Pilar Two income taxes.
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 |
| 10,432 |
|---|
| 1,721 |
| (254) |
| 254 |
| 15 |
| 14 |
| (3) |
| (165) |
| 431 |
| (102) |
| 1,911 |
IBI Group Holdings Limited
2024/2025年度报告
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
- （续）
于二零二三年十二月十八日，爱尔兰（附属公司
注册成立地点）政府颁布支柱二所得税法，自二
零二四年一月一日起生效。根据该法例，本集团
须就附属公司溢利缴纳实际税率低于15%的补
充税。
本集团正继续评估支柱二所得税立法对其未来财
务表现的影响。
年内所得税开支与综合损益及其他全面收益表中
除所得税开支前溢利的对账如下：
11. INCOME TAX EXPENSE (CONTINUED)
On 18 December 2023, the government of Ireland, where
the subsidiary is incorporated, enacted the Pilar Two income
taxes legislation efective from 1 January 2024. Under the
legislation, the Group wil be required to pay, in top-up tax on
profits of its subsidiaries that are taxed at an efective tax rate
of les than 15 per cent.
The Group is continuing to ases the impact of the Pilar Two
income taxes legislation on its future financial performance.
The income tax expense for the year can be reconciled to
the profit before income tax expense in the consolidated
statements of profit or los and other comprehensive income
as folows:
Profit before income tax expense除所得税开支前溢利2,621
Tax charge calculated at Hong Kong profits
tax rate of 16.5% (2024: 16.5%)
按香港利得税率16.5%
（二零二四年：16.5%）
计算的税项开支432
Tax efect of revenue not taxable
for tax purposes
毋须课税收益的税务影响
(231)
Tax efect of expenses not deductible
for tax purposes
不可扣税开支的税务影响
3,538
Efect of diferent taxation rates in other
jurisdictions
其他司法权区不同税率的影响
(891)
Under/(over) provision in respect of
prior years
过往年度拨备不足╱
（超额拨备）(87)
Tax reduction in curent year本年度税项减少(6)
Efect of the Regime该制度的影响(165)
Tax efect of tax los and other temporary
diferences not recognised
未确认税项亏损及其他暂时
差额的税务影响445
Utilisation of tax los previously not
recognised
动用先前未确认的税项亏损
(715)
Income tax expense所得税开支2,320
IBI Group Holdings Limited
Anual Report 2024/2025
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
- （续）
于二零二五年三月三十一日，本集团估计未动
用税项亏损约24,698,000港元（二零二四年：
22,548,000港元）可供抵销未来溢利。澳门附
属公司产生的税项亏损约6,181,000港元（二零
二四年：4,689,000港元）可结转3年，其余未动
用的税项亏损约18,517,000港元（二零二四年：
17,859,000港元）可无限期结转。税项亏损分别
约1,596,000港元（二零二四年：1,349,000港元）
及6,359,000港元（二零二四年：6,650,000港元）
须由澳门及香港税务机关进行最终评估。由于无
法预测未来溢利来源，故并无就估计未动用税项
亏损确认递延税项资产及各个司法权区的税务机
关最终完成税务评估。
于二零二五年三月三十一日，本集团其他可扣税
暂时差额约为9,951,000港元（二零二四年：零港
元）。概无就该等可扣税暂时差额确认递延税项
资产。
由于截至二零二五年及二零二四年三月三十一日
止年度并无产生其他重大暂时差额，故并无于综
合财务报表计提递延税项拨备。
11. INCOME TAX EXPENSE (CONTINUED)
As at 31 March 2025, the Group had estimated unused
tax loses of aproximately HK$24,698,000 (2024:
HK$22,548,000) available for ofseting against future
profits. The tax loses arising from a subsidiary in Macau of
aproximately HK$6,181,000 (2024: HK$4,689,000) can be
caried forward for 3 years, the remaining unused tax loses
of aproximately HK$18,517,000 (2024: HK$17,859,000)
can be caried forward indefinitely. The tax loses of
aproximately HK$1,596,000 (2024: HK$1,349,000) and
HK$6,359,000 (2024: HK$6,650,000) are subject to the final
asesments by tax authorities in Macau and Hong Kong
respectively. No defered tax aset has ben recognised
in respect of the estimated unused tax loses due to
unpredictability of future profit streams and finalisation of tax
asesments by tax authorities in the respective jurisdictions.
As at 31 March 2025, the Group has other deductible
temporary diferences aproximately of HK$9,951,000
(2024: HK$Nil). No defered tax aset has ben recognised in
relation to such deductible temporary diference.
No defered tax has ben provided in the consolidated
financial statements as no other material temporary
diferences had risen during the years ended 31 March 2025
and 2024.
| Fees | Salaries, allowances and other benefits | Discretionary bonuses | Contribution on defined contribution retirement plans | Total | |||
|---|---|---|---|---|---|---|---|
| 袍金 | 薪金、津贴及 其他福利 | 酌情花红 | 定额供款 退休计划供款 | 总计 | |||
| HK$’000 | HK$’000 | HK$’000 | HK$’000 | HK$’000 | |||
| 千港元 | 千港元 | 千港元 | 千港元 | 千港元 |
| 240 | 2,671 | 981 | 18 | 3,910 |
|---|---|---|---|---|
| 240 | 2,548 | 881 | 18 | 3,687 |
| 200 | – | – | – | 200 |
| 240 | – | – | – | 240 |
| 240 | – | – | – | 240 |
| 60 | – | – | – | 60 |
| 1,220 | 5,219 | 1,862 | 36 | 8,337 |
IBI Group Holdings Limited
2024/2025年度报告
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
- 、最高薪酬人士及高级管理层
薪酬
(a) 董事薪酬
董事薪酬披露如下：
截至二零二五年三月三十一日止年度
12. DIRECTORS’ EMOLUMENTS, HIGHEST
PAID INDIVIDUALS AND SENIOR
MANAGEMENT’S EMOLUMENTS
(a) Directors’ emoluments
Directors’ emoluments is disclosed as folows:
Year ended 31 March 2025
Executive directors执行董事
Neil David HOWARDNeil David HOWARD
Steven Paul SMITHERSteven Paul SMITHERS
Independent non-executive directors独立非执行董事
Robert Peter ANDREWSRobert Peter ANDREWS(i)
David John KENEDYDavid John KENEDY
Christopher John BROKEChristopher John BROKE
Ka Wai YEUNG杨家慧(i)
Total总计
| Fees | Salaries, allowances and other benefits | Discretionary bonuses | Contribution on defined contribution retirement plans | Total | |||
|---|---|---|---|---|---|---|---|
| 袍金 | 薪金、津贴及 其他福利 | 酌情花红 | 定额供款 退休计划供款 | 总计 | |||
| HK$’000 | HK$’000 | HK$’000 | HK$’000 | HK$’000 | |||
| 千港元 | 千港元 | 千港元 | 千港元 | 千港元 |
IBI Group Holdings Limited
Anual Report 2024/2025
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
- 、最高薪酬人士及高级管理层
薪酬（续）
(a) 董事薪酬（续）
截至二零二四年三月三十一日止年度
附注：
(i) Robert Peter ANDREWS于二零二四年十二月
三十一日辞任本公司独立非执行董事。
(i) 杨家慧于二零二四年十二月三十一日获委任
为本公司独立非执行董事。
(i) Christopher John BROKE于二零二三年九月
三十日获委任为本公司独立非执行董事。
(iv) Martin WODS于二零二三年九月三十日辞任
本公司独立非执行董事。
(v) 截至二零二五年及二零二四年三月三十一日
止年度，本集团概无向董事支付任何薪酬，
作为招揽或加入本集团时的奖励或作为离职
补偿。此外，于截至二零二五年及二零二四
年三月三十一日止年度概无董事放弃或同意
放弃任何薪酬。
(vi) 上文所示执行董事薪酬主要支付彼等与本公
司及本集团事务管理有关的服务。上文所示
独立非执行董事薪酬主要支付彼等作为本公
司董事的服务。
12. DIRECTORS’ EMOLUMENTS, HIGHEST
PAID INDIVIDUALS AND SENIOR
MANAGEMENT’S EMOLUMENTS
(CONTINUED)
(a) Directors’ emoluments (Continued)
Year ended 31 March 2024
Executive directors执行董事
Neil David HOWARDNeil David HOWARD2402,599630183,487
Steven Paul SMITHERSteven Paul SMITHERS2402,479580183,317
Independent non-executive directors独立非执行董事
Robert Peter ANDREWSRobert Peter ANDREWS240–240
David John KENEDYDavid John KENEDY240–240
Christopher John BROKEChristopher John BROKE(i)120–120
Martin WODSMartin WODS(iv)120–120
Total总计1,2005,0781,210367,524
Notes:
(i) Robert Peter ANDREWS resigned as independent non-
executive director of the Company on 31 December 2024.
(i) Ka Wai YEUNG was apointed as independent non-
executive director of the Company on 31 December 2024.
(i) Christopher John BROKE was apointed as independent
non-executive director of the Company on 30 September
2023.
(iv) Martin WODS resigned as independent non-executive
director of the Company on 30 September 2023.
(v) During the years ended 31 March 2025 and 2024, no
emoluments were paid by the Group to the directors as
an inducement to join or upon joining the Group or as
compensation for los of ofice. In adition, none of the
directors waived or agred to waive any emoluments during
the years ended 31 March 2025 and 2024.
(vi) The executive directors’ emoluments shown above
were mainly paid for their services in conection with the
management of the afairs of the Company and the Group.
The independent non-executive directors’ emoluments
shown above were mainly paid for their services as directors
of the Company.
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 |
| 4,852 |
|---|
| 420 |
| 54 |
| 5,326 |
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| No. of individuals | No. of individuals | ||
| 人数 | 人数 |
| – |
|---|
| – |
| 3 |
IBI Group Holdings Limited
2024/2025年度报告
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
- 、最高薪酬人士及高级管理层
薪酬（续）
(b) 五名最高薪酬人士
年内，五名最高薪酬人士包括两名（二零
二四年：两名）董事。其余三名（二零二四
年：三名）非董事最高薪酬人士于本年度的
薪酬如下：
截至二零二五年及二零二四年三月三十一
日止年度，薪酬介乎下列范围的非董事最
高薪酬人士的人数如下：
其余最高薪酬人士为本公司董事，其薪酬
于上文附注12(a)所呈列分析中反映。
截至二零二五年及二零二四年三月三十一
日止年度，本集团概无向五名最高薪酬人
士支付任何薪酬，作为招揽或加入本集团
时的奖励或作为离职补偿。
12. DIRECTORS’ EMOLUMENTS, HIGHEST
PAID INDIVIDUALS AND SENIOR
MANAGEMENT’S EMOLUMENTS
(CONTINUED)
(b) Five highest paid individuals
The five highest paid individuals for the year include two
(2024: two) directors. The emoluments of the remaining
thre (2024: thre) non-director highest paid individuals
for the year are as folows:
Salaries, alowances and other benefits薪金、津贴及其他福利4,770
Discretionary bonuses酌情花红480
Contributions on defined contribution
retirement plans
定额供款退休计划供款
5,304
The number of non-director highest paid individuals
whose emoluments felt within the folowing bands for
the years ended 31 March 2025 and 2024 is as folows:
HK$Nil — HK$1,000,000零港元至1,000,000港元–
HK$1,000,001 — HK$1,500,0001,000,001港元至1,500,000港元–
HK$1,500,001 — HK$2,000,0001,500,001港元至2,000,000港元3
The remaining highest paid individuals are directors of
the Company whose emoluments are reflected in the
analysis presented in Note 12(a) above.
During the years ended 31 March 2025 and 2024, no
emoluments were paid by the Group to the five highest
paid individuals as an inducement to join or upon joining
the Group or as compensation for los of ofice.
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| No. of individuals | No. of individuals | ||
| 人数 | 人数 |
| – |
|---|
| 2 |
| 3 |
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 |
| 4,000 |
|---|
IBI Group Holdings Limited
Anual Report 2024/2025
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
- 、最高薪酬人士及高级管理层
薪酬（续）
(c) 高级管理层薪酬
已付或应付非董事高级管理层成员的薪酬
介乎下列范围：
13. 股息
附注：
(i) 截至二零二四年三月三十一日止财政年度的末期股
息每股普通股0.5港仙（合共4.0百万港元）已于二零
二四年十月七日派付。
(i) 截至二零二五年三月三十一日止财政年度的末期股
息每股普通股0.5港仙（合共4.0百万港元），已由本
公司董事建议派付，并须待本公司股东于应届股东
周年大会上批准。于二零二五年三月三十一日后宣
派的末期股息并无于二零二五年三月三十一日确认
为负债。
12. DIRECTORS’ EMOLUMENTS, HIGHEST
PAID INDIVIDUALS AND SENIOR
MANAGEMENT’S EMOLUMENTS
(CONTINUED)
(c) Senior management’s emoluments
Emoluments paid or payable to members of senior
management who are not directors were within the
folowing bands:
HK$Nil — HK$1,000,000零港元至1,000,000港元1
HK$1,000,001 — HK$1,500,0001,000,001港元至1,500,000港元1
HK$1,500,001 — HK$2,000,0001,500,001港元至2,000,000港元3
13. DIVIDENDS
Final dividend paid (Note (i)已派付末期股息（附注(i)）–
Notes:
(i) The final dividend in respect of the financial year ended 31 March
2024 of HK$0.5 cents per ordinary share, amounting to HK$4.0
milion was paid on 7 October 2024.
(i) The final dividend in respect of the financial year ended 31 March
2025 of HK0.5 cents per ordinary share, amounting to HK$4.0
milion, has ben proposed by the directors of the Company and
is subject to aproval by the shareholders of the Company at the
forthcoming anual general meting. The final dividend declared
subsequent to 31 March 2025 has not ben recognised as a
liability as at 31 March 2025.
| Office equipment and fittings | ||
|---|---|---|
| 办公设备及装备 | ||
| HK$’000 | ||
| 千港元 |
IBI Group Holdings Limited
2024/2025年度报告
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
14. EARNINGS PER SHARE
The calculation of basic earnings per share for the year
ended 31 March 2025 is based on the profit for the year
atributable to owners of the Company of aproximately
HK$8,390,000 (2024: profit of aproximately HK$350,000)
and on the weighted average number of 800,000,000 (2024:
800,000,000) ordinary shares in isue during the year.
Diluted earnings per share is the same as the basic earnings
per share because the Group has no dilutive potential shares
for the years ended 31 March 2025 and 2024.
15. PROPERTY, PLANT AND EQUIPMENT
Cost成本
At 1 April 2023于二零二三年四月一日6,843
Aditions添置72
Writen of撇销(41)
At 31 March 2024于二零二四年三月三十一日6,874
Aditions添置31
At 31 March 2025于二零二五年三月三十一日6,905
Acumulated depreciation累计折旧
At 1 April 2023于二零二三年四月一日6,357
Charge for the year年内开支429
Writen of撇销(41)
At 31 March 2024于二零二四年三月三十一日6,745
Charge for the year年内开支75
At 31 March 2025于二零二五年三月三十一日6,820
Net carying value账面净值
At 31 March 2025于二零二五年三月三十一日85
At 31 March 2024于二零二四年三月三十一日129
14. 每股盈利
截至二零二五年三月三十一日止年度的每股基
本盈利乃基于本公司拥有人应占年内溢利约
8,390,000港元（二零二四年：溢利约350,000港
元）及年内已发行普通股加权平均数800,000,000
股（二零二四年：800,000,000股）计算。
由于本集团于截至二零二五年及二零二四年三月
三十一日止年度并无潜在摊薄股份，故每股摊薄
盈利与每股基本盈利相同。
- 、厂房及设备
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 |
| 4,174 |
|---|
| – |
| (2,505) |
| 1,669 |
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 |
| 7,208 |
|---|
IBI Group Holdings Limited
Anual Report 2024/2025
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
16. 使用权资产
已确认使用权资产的相关账面净值与下列资产类
别有关：
自用租赁物业，按折旧成本列账
17. 按公平值计入损益的金融资产
由于本集团董事打算出于长期策略目的持有该等
投资，故本集团将上市股权投资分类为非流动资
产。
于二零二五年三月三十一日，本集团账面值约
7,208,000港元（二零二四年：6,663,000港元）的
香港上市证券已作抵押，以取得授予本集团的若
干银行借款（附注24及29）。
16. RIGHT-OF-USE ASETS
The underlying net bok value of right-of-use asets
recognised relate to the folowing types of asets:
Properties leased for own use, caried at
depreciated cost
At 1 April于四月一日1,721
Aditions添置5,008
Depreciation折旧(2,555)
At 31 March于三月三十一日4,174
17. FINANCIAL ASETS AT FAIR VALUE
THROUGH PROFIT OR LOS
Listed securities at fair value:按公平值计量的上市证券：
Listed in Hong Kong于香港上市6,663
The Group clasified the listed equity investments as non-
curent asets as the directors of the Group intend to hold
these investments for long term strategic purpose.
As at 31 March 2025, the Group’s listed securities in Hong
Kong with carying amounts of aproximately HK$7,208,000
(2024: HK$6,663,000) was pledged to secure certain bank
borowings granted to the Group (Notes 24 and 29).
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 |
| 113,176 |
|---|
| 2,792 |
| (265) |
| (335) |
| 115,368 |
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 |
| 113,176 |
|---|
| 2,792 |
| (265) |
| (335) |
| 115,368 |
| (265) |
IBI Group Holdings Limited
2024/2025年度报告
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
18. INVESTMENT PROPERTY
The Group’s property interest held to earn rentals and for
capital apreciation purposes is measured using the fair value
model and is clasified and acounted for as investment
property. The investment property is leased to third parties
under operating leases.
Movements of the carying amounts presented in
consolidated statement of financial position can be
sumarised as folows:
Carying amount at the begining of year年初账面值124,633
Aditions添置–
Change in fair value of investment property投资物业公平值变动(10,135)
Exchange realignment汇兑调整(1,322)
Carying amount at the end of year年末账面值113,176
The investment property was valued at aproximately
HK$115,368,000 (2024: HK$113,176,000) as at 31 March
2025 using income capitalisation aproach caried out by
International Valuation Limited, which is an independent
qualified profesional valuer not conected with the Group.
The fair value measurement of the Group’s investment
properties is a level 3 recuring fair value measurement. A
reconciliation of the opening and closing fair value balance is
provided below:
Opening balance年初结余124,633
Aditions添置–
Change in fair value of investment property投资物业公平值变动(10,135)
Exchange realignment汇兑调整(1,322)
Closing balance (level 3 recuring fair value)年末结余（第3级经常性公平值）113,176
Change in fair value for the year
included in profit or los for
asets held at the end of the year
就年末所持资产计入损益的
年内公平值变动
(10,135)
18. 投资物业
本集团持有以赚取租金与作资本增值用途的物业
权益均以公平值模式计量，并分类及入账列为投
资物业。投资物业根据经营租赁出租予第三方。
综合财务状况表所呈列账面值的变动概述如下：
投资物业于二零二五年三月三十一日的估值为约
115,368,000港元（二零二四年：113,176,000港
元），采用国际评估有限公司（一间与本集团并无
关连的独立合资格专业估值师）进行的收入资本
化法。
本集团投资物业的公平值计量属第3级经常性公
平值计量。年初与年末公平值结余对账载列如下：
| Property | Valuation techniques 2025 | Significant unobservable inputs | Range of significant unobservable inputs | Relationship of unobservable input to fair value |
|---|---|---|---|---|
| 物业 | 二零二五年估值技术 | 重大不可观察输入值 | 重大不可观察 输入值的范畴 | 不可观察输入值与 公平值之间的关系 |
IBI Group Holdings Limited
Anual Report 2024/2025
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
- （续）
公平值计量基于上述项目的最高及最佳用途，该
用途与其实际用途并无差异。
年内，概无第一级与第二级公平值计量级别间的
转移，亦无转入或转出第三级。
下表提供有关如何厘定投资物业公平值的资料：
投资物业公平值乃采用收入资本化法厘定，其中
该物业所有可出租单位的市场租金按投资者对该
类物业的预期市场收益率进行评估及贴现。市场
租金乃参考该物业的可出租单位以及同一地点类
似物业的其他出租单位所获得的租金进行评估。
资本化率乃参考分析爱尔兰类似物业的销售交易
所得的收益率并根据物业质量及位置进行调整而
予以厘定。
于二零二五年三月三十一日，本集团账面值约
115,368,000港元（二零二四年：113,176,000港
元）的投资物业已作抵押，以取得授予本集团的
若干银行借款（附注24及29）。
18. INVESTMENT PROPERTY (CONTINUED)
The fair value measurement is based on the above items’
highest and best use, which does not difer from their actual
use.
During the year, there were no transfers of fair value
measurements betwen Level 1 and Level 2 and no transfers
into or out of Level 3.
The folowing table gives information about how the fair value
of the investment property is determined:
Property in IrelandIncome capitalisation
aproach
Estimated rental valueEUR3.65–EUR4.13 per
month per square fet
(2024: EUR3.45–EUR3.97
per month per square fet)
The higher the rental value,
the higher the fair value
于爱尔兰的物业收入资本化法估计租金价值每月每平方英呎3.65欧元
至4.13欧元（二零二四年：
每月每平方英呎3.45欧元
至3.97欧元）
租金价值越高，公平值越高
Capitalisation rate7.5%–7.75%
(2024: 7%–7.25%)
The higher the capitalisation
rate, the lower the fair value
资本化率7.5%至7.75%（二零二四
年：7%至7.25%）
资本化率越高，公平值越低
The fair value of the investment property is determined using
income capitalisation aproach, where the market rentals of
al letable units of the property is asesed and discounted
at the market yield expected by investors for this type of
property. The market rentals are asesed by reference to
the rentals achieved in letable units of the property as wel
as other letings of similar properties in the same location.
The capitalisation rate is determined by reference to the
yields derived from analysing the sales transactions of similar
properties in Ireland and adjusting to take into acount the
quality and location of the property.
As at 31 March 2025, the Group’s investment property with
carying amounts of aproximately HK$115,368,000 (2024:
HK$113,176,000) was pledged to secure certain bank
borowings granted to the Group (Notes 24 and 29).
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 |
| 140,641 |
|---|
| 26,584 |
| 167,225 |
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 |
| – |
|---|
| – |
| – |
IBI Group Holdings Limited
2024/2025年度报告
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
19. 合约资产及合约负债
下表载列于各报告期间末合约资产及合约负债详
情：
于二零二三年四月一日，本集团的合约资产及合
约负债分别约为89,611,000港元及492,000 港元。
所有合约资产及合约负债均产生自提供翻新服务。
特定项目的施工进度及若干项目的工程进度款申
请审批时间均会导致年内合约资产及合约负债有
所变动。
附注：
(i) 于二零二五年三月三十一日，本集团的应收保留款
项仍未逾期，当中约3,577,000港元（二零二四年：
7,508,000港元）预期将于报告期间结束后十二个月
后收回。
19. CONTRACT ASETS AND CONTRACT
LIABILITIES
The folowing table sets out details of the contract asets and
contract liabilities as at the end of each reporting period:
Contract asets合约资产
Arising from Contracting因承建而产生183,535
Ad: Retention receivables (Note (i)加：应收保留款项（附注(i)）26,045
209,580
Contract liabilities合约负债–
Arising from Contracting因承建而产生–
–
As at 1 April 2023, the Group’s contract asets and contract
liabilities amounted to aproximately HK$89,611,000 and
HK$492,000 respectively.
Al contract asets and contract liabilities are arisen from the
provision of renovation services. The changes in the contract
asets and contract liabilities for the year were resulted from
the pace of the progres of particular projects and the timing
of aproval for progres biling aplication for certain projects.
Note:
(i) As at 31 March 2025, the Group’s retention receivables were
not yet past due, in which aproximately HK$3,577,000 (2024:
HK$7,508,000) were expected to be recovered beyond twelve
months after the end of the reporting period.
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 |
| – |
|---|
| – |
| – |
IBI Group Holdings Limited
Anual Report 2024/2025
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
- （续）
影响合约资产金额的典型付款条件如下：
承建
本集团的合约资产指本集团就于报告日期已竣工
但未向客户计费的工程收取代价的权利。当有关
权利成为无条件时，合约资产转拨至贸易应收款
项，即本集团基于与客户协定的金额向客户开具
工程进度款账单。合约通常包括客户自各个工程
进度及最终付款预留部分款项（一般约10.0%），
直至达到总合约金额的特定百分比为止的条款。
有关预扣款项称为保留金。因本集团获得此最终
付款的权利须待本集团工程圆满通过检测后方可
作实，故此金额计入合约资产，直至保证期结束
为止。
倘本集团于提供建造服务前收取按金，其将导致
合约负债于合约开始生效时产生，直至就相关合
约所确认的收益超过按金额为止。
合约负债变动：
19. CONTRACT ASETS AND CONTRACT
LIABILITIES (CONTINUED)
Typical payment terms which impact on the amount of
contract asets are as folows:
Contracting
The Group’s contract asets represent the Group’s right
to consideration for work completed but not yet biled to
customers at the reporting date. The contract asets are
transfered to trade receivables when the rights become
unconditional, that is, when the Group isue progres
bilings to customers based on certified amount agred
with customer. The contracts usualy include a term for the
customers to hold up a portion, normaly around 10.0%, from
each progres and final payment until a particular percentage
of the total contract sum is reached. Such sum of money
witheld is refered to as retention money. This amount is
included in contract asets until the end of the retention
period as the Group’s entitlement to this final payment
is conditional on the Group’s work satisfactorily pasing
inspection.
When the Group receives a deposit before construction
services is rendered, this wil give rise to contract liabilities at
the begining of a contract, until the revenue recognised on
the relevant contract exceds the amount of the deposit.
Movement in contract liabilities:
Balance as at 1 April于四月一日的结余492
Decrease in contract liabilities as a result of
recognising revenue during the year that
was included in the contract liabilities at
the begining of the year
因年内确认年初计入合约
负债的收益导致合约
负债减少
(492)
Balance as at 31 March于三月三十一日的结余–
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 |
| 34,224 |
|---|
| 929 |
| 945 |
| 36,098 |
| – |
| 36,098 |
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 |
| 27,741 |
|---|
| 6,483 |
| – |
| – |
| 34,224 |
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 |
| 29,426 |
|---|
| 4,798 |
| – |
| – |
| 4,798 |
| 34,224 |
IBI Group Holdings Limited
2024/2025年度报告
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
20. 贸易及其他应收款项
附注：
(i) 于二零二三年四月一日，本集团来自客户合约的贸
易应收款项约为17,653,000港元。
(i) 授予客户最终款项及工程进度款的信用期一般介乎
发票日期起的14至60日。
(i) 于各报告期末，贸易应收款项（扣除拨备）按发票日
期的账龄分析如下：
于各报告期末被视为并无个别或共同减值的贸易应
收款项（扣除拨备）的账龄分析如下：
20. TRADE AND OTHER RECEIVABLES
Trade receivables (Notes (i), (i), (i) and (v)贸易应收款项
（附注(i)、(i)、(i)及(v)）37,011
Deposits and other receivables按金及其他应收款项905
Prepayments预付款项3,336
41,252
Les: Non-curent portion included in
prepayments (Note (vi)
减： 计入预付款项的非即期部分
（附注(vi)）(2,754)
38,498
Notes:
(i) As at 1 April 2023, the Group’s trade receivables from contracts
with customers amounted to aproximately HK$17,653,000.
(i) The credit period granted to customers on final and progres
bilings is generaly betwen 14 and 60 days from the invoice date.
(i) The ageing analysis of trade receivables (net of alowances) at
the end of each reporting period based on the invoice date is as
folows:
Within 30 days30日内36,626
31–60 days31至60日385
61–90 days61至90日–
Over 90 days超过90日–
37,011
The ageing analysis of trade receivables (net of alowances) at the
end of each reporting period that are not individualy nor colectively
considered to be impaired is as folows:
Not past due未逾期36,756
Les than 1 month past due逾期少于1个月40
1 to 3 months past due逾期1至3个月215
Over 3 months past due逾期3个月以上–
37,011
IBI Group Holdings Limited
Anual Report 2024/2025
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
- （续）
附注：（续）
(i) 未逾期的贸易应收款项主要与近期并无违约记录的
本集团主要客户有关。
(iv) 已逾期的贸易应收款项与多名在本集团拥有良好往
绩记录的独立客户有关。基于过往经验，管理层认
为，由于信贷质素并无重大改变，且结余仍被视为
可悉数收回，故毋须就该等结余作出减值拨备。本
集团并无就该等结余持有任何抵押品。
(v) 于二零二五年三月三十一日，本集团持有约
8,550,000港元（二零二四年：零港元）的贸易应收款
项已由本集团贴现予银行。本集团承诺对所转让的
任何债务承担连带责任，因此在债务人清偿或违约
前，继续将已出售债务确认为贸易应收款项。因此，
本集团继续于报告期末全额确认其账面值。转让债
务所得款项约6,838,000港元（二零二四年：零港元）
在债务收回或本集团就银行产生的任何损失作出弥
偿前，均计入银行借款（附注24）。
(vi) 指于二零二四年三月三十一日翻新投资物业的预付
款项。翻新已于年内完成，并相应转拨至投资物业。
20. TRADE AND OTHER RECEIVABLES
(CONTINUED)
Notes: (Continued)
(i) Trade receivables that were not past due primarily relate to the
Group’s main customers for whom there was no recent history of
default.
(iv) Trade receivables that were past due relate to a number of
independent customers that have a god track record with the
Group. Based on past experience, management believe that no
impairment alowance is necesary in respect of these balances as
there have not ben a significant change in credit quality and the
balances are stil considered fuly recoverable. The Group does not
hold any colateral over these balances.
(v) As at 31 March 2025, trade receivables amounted aproximately
to HK$8,550,000 (2024: HK$Nil) held by the Group are discounted
to the bank by the Group. The Group is comited to underwrite
any of the debts transfered and therefore continues to recognise
the debts sold within trade receivables until the debtors repay or
default. Acordingly, the Group continues to recognise their ful
carying amounts at the end of the reporting period. The proceds
from transfering the debts aproximately to HK$6,838,000 (2024:
HK$Nil) are included in bank borowings (Note 24) until the debts
are colected or the Group makes god any loses incured by the
bank.
(vi) It represented the prepayment for renovation of investment
property as at 31 March 2024. The renovation was completed
during the year and was transfered to investment property
acordingly.
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 |
| 10,956 |
|---|
| 14 |
| 10,970 |
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 |
| 9,895 |
|---|
| 4,800 |
| 14,695 |
IBI Group Holdings Limited
2024/2025年度报告
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
21. 发展中物业
于二零二五年三月三十一日，包括在发展中物业
的土地租赁权益约为10,970,000港元（二零二四
年：10,956,000港元），预计自报告期末起十二
个月后不会竣工，故不可供出售。
22. 已抵押存款
已抵押存款存放于银行及保险公司，作为该银行
及保险公司就若干客户的项目向其发出的履约保
证的担保。已抵押存款将于有关银行或保险公司
信纳履约保证下的项目不会产生索偿时予以解除。
21. PROPERTY UNDER DEVELOPMENT
At begining of year于年初10,943
Aditions添置13
At end of year于年末10,956
As at 31 March 2025, leasehold interests in land included in
properties under development amounted to aproximately
HK$10,970,000 (2024: HK$10,956,000) is not expected to
be completed and available for sale after twelve months from
the end of the reporting period.
22. PLEDGED DEPOSITS
Pledged deposits with a bank于银行的已抵押存款9,018
Pledged deposits with an insurer于保险公司的已抵押存款4,389
13,407
Pledged deposits are placed with a bank and an insurer as
securities for the performance bonds isued by the bank and
insurer to certain customers on their projects. The pledged
deposits wil be released when the bank or insurer are
satisfied that no claims wil arise from the projects under the
performance bonds.
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 |
| 17,071 |
|---|
| 78,037 |
| 23,897 |
| 4,146 |
| 123,151 |
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 |
| 16,707 |
|---|
| 1 |
| 6 |
| 357 |
| 17,071 |
IBI Group Holdings Limited
Anual Report 2024/2025
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
23. 贸易及其他应付款项
附注：
(i) 于各报告期末，贸易应付款项按发票日期的账龄分
析如下：
供应商授予的信用期一般介乎发票日期起的14至
60日及分包商授予的信用期一般为收讫客户付款后
14日内。
(i) 于二零二五年三月三十一日，应付保留款项约
2,061,000港元（二零二四年：4,168,000港元）预期
将于报告期末之后逾十二个月始偿付。
(i) 于二零二五年三月三十一日其他应付款项包括银行
借款的应付利息约32,000港元（二零二四年：46,000
港元）、可退还租赁按金约224,000港元（二零二四
年：224,000港元）及预收租金收入约361,000港元
（二零二四年：零港元）。
23. TRADE AND OTHER PAYABLES
Trade payables (Note (i)贸易应付款项（附注(i)）18,675
Acruals for costs of contract work合约工程成本应计费用128,969
Retention payables (Note (i)应付保留款项（附注(i)）22,138
Other payables and acruals (Note (i)其他应付款项及应计费用（附注(i)）4,126
173,908
Notes:
(i) The ageing analysis of trade payables, based on invoice date, at
the end of each reporting period is as folows:
0–30 days0至30日18,311
31–60 days31至60日20
61–90 days61至90日–
Over 90 days超过90日344
18,675
The credit period granted by supliers is generaly betwen 14
and 60 days from the invoice date and subcontractors is generaly
within 14 days after receipt of payment from customers.
(i) As at 31 March 2025, retention payables of aproximately
HK$2,061,000 (2024: HK$4,168,000) were expected to be setled
beyond twelve months after the end of the reporting period.
(i) Included in other payables as at 31 March 2025 were interest
payables on bank borowings of aproximately HK$32,000
(2024: HK$46,000), refundable rental deposits of aproximately
HK$224,000 (2024: HK$224,000) and rental income received in
advances of HK$361,000 (2024: HK$Nil).
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 |
| 80,263 |
|---|
| – |
| 80,263 |
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 |
| 65,946 |
|---|
| 1,858 |
| 5,995 |
| 6,464 |
| 80,263 |
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 |
| 80,263 |
|---|
| – |
| 80,263 |
IBI Group Holdings Limited
2024/2025年度报告
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
24. 银行借款
根据贷款协议所载银行授予的还款协定条款，银
行借款的偿还时间表如下：
于报告期末，银行借款总额按下列方式偿还（附
注(i)）：
24. BANK BOROWINGS
Secured and guaranted bank borowings有抵押及有担保银行借款
Curent portion流动部分23,520
Non-curent portion非流动部分54,477
77,997
The repayment schedules of the bank borowings based on
the agred terms of repayment granted by banks as set out
in the loan agrements are as folows:
Repayable within one year于一年内偿还7,392
Repayable in the second year (Note (i)于第二年偿还（附注(i)）56,268
Repayable in the third to fifth year,
inclusive (Note (i)
于第三年至第五年
（包括首尾两年）偿还（附注(i)）5,780
Repayable beyond five years (Note (i)于五年后偿还（附注(i)）8,557
77,997
At the end of the reporting period, total bank borowings are
repayable as folows (Note (i):
Repayable within one year or on demand
(Note (i)
于一年内或按要求偿还（附注(i)）
23,520
Repayable in the second year于第二年偿还54,477
77,997
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 |
| 25,948 |
|---|
| 54,315 |
| 80,263 |
IBI Group Holdings Limited
Anual Report 2024/2025
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
- （续）
银行借款乃按下列货币计值：
(i) 流动负债包括未计划于一年内偿还的约14,317,000
港元（二零二四年：16,128,000港元）银行借款。该
等被分类为流动负债，因为相关贷款协议所载条文
规定贷款方拥有无条件权利全权要求随时偿还。一
年后到期偿还的该等银行借款（附按要求偿还条款
且被分类为流动负债）任何部分预期不会于一年内
清偿。于上述分析中，该等银行借款被归类为「于一
年内或按要求偿还」。
(i) 银行借款约16,110,000港元（二零二四年：
17,856,000港元）由一名董事及香港按证保险有限
公司根据中小型企业融资担保计划提供担保，按香
港最优惠利率减年利率2.5%计息，并应偿还至二
零三年。此外，年内浮动利率为年利率3.375%至
3.625%（二零二四年：3.375%至3.625%）。
不论本集团是否已履行预定还款责任，银行均有优
先偿还银行借款需求的权利。因此，银行借款被分
类为流动负债。
(i) 银行借款3,000,000港元由香港上市证券（附注17）
作抵押，按香港最优惠利率减年利率1%计息，并应
于二零二五年五月偿还。年内，浮动利率为年利率
4.5%。银行借款于二零二五年五月悉数偿还。
(iv) 银行借款6,838,000港元由贸易应收款项（附注20）
作抵押，按香港最优惠利率加年利率1.5%计息，并
应于二零二五年四月偿还。年内，浮动利率为年利
率7%。银行借款于二零二五年四月悉数偿还。
24. BANK BOROWINGS (CONTINUED)
The bank borowings are denominated in the folowing
curencies:
HK$ — guaranted (Notes (i), (i), (iv)港元 — 已担保（附注(i)、(i)、(iv)）21,356
Euro — secured (Note (v)欧元 — 已抵押（附注(v)）56,641
77,997
(i) Curent liabilities include bank borowings of aproximately
HK$14,317,000 (2024: HK$16,128,000) that are not scheduled to
repay within one year. They are clasified as curent liabilities as the
related loan agrements contain a clause that provides the lenders
with an unconditional right to demand repayment at any time at
their own discretion. None of the portion of these bank borowings
due for repayment after one year which contain a repayment
on demand clause and that is clasified as a curent liability is
expected to be setled within one year. These bank borowings are
grouped under “Repayable within one year or on demand” in the
analysis above.
(i) The bank borowings of aproximately HK$16,110,000 (2024:
HK$17,856,000) are being guaranted by a director and HKMC
Insurance Limited under the Smal and Medium-sized Enterprise
Financing Guarante Scheme, interest bearing at the Hong
Kong Prime Rate –2.5% per anum and are payable up to 2033.
Moreover, during the year, the floating rate is 3.375% to 3.625%
(2024: 3.375% to 3.625%) per anum.
The bank has overiding right of repayment on demand for
bank borowings irespective of whether the Group has met the
scheduled repayment obligation. Therefore, the bank borowings
are clasified as curent liabilities.
(i) The bank borowing of HK$3,000,000 is secured by a security
listed in Hong Kong (Note 17), interest bearing at the Hong Kong
Prime Rate–1% per anum and is payable in May 2025. During the
year, the floating rate is 4.5% per anum. The bank borowing is
fuly repaid in May 2025.
(iv) The bank borowings of HK$6,838,000 are secured by trade
receivables (Note 20), interest bearing at the Hong Kong Prime
Rate+1.5% per anum and are payable in April 2025. During the
year, the floating rate is 7% per anum. The bank borowings are
fuly repaid in April 2025.
| HK$’000 | ||
|---|---|---|
| 千港元 |
IBI Group Holdings Limited
2024/2025年度报告
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
- （续）
(v) 银行借款以本集团的投资物业（附注18）作抵押，并
须偿还至二零二五年。本集团于二零二五年四月申
请贷款延期并将银行借款延期至二零二七年偿还。
银行借款不包括按需求偿还条款。
于二零二五年三月三十一日，银行借款约
52,673,000港元（相当于6,255,000欧元）（二零二四
年：54,778,000港元（相当于6,485,625欧元）按
5.875%（二零二四年：5.875%）固定利率计息。
银行借款的剩余结余按3个月期欧元银行同业拆借
利率加年利率2.75%的浮动利率计息。年内，银行
借款按浮动年利率5.433%至6.652%（二零二四年：
5.765%至6.722%）计息。
25. 租赁负债
本集团拥有办公室物业的租赁合约。办公室物业
租赁的租赁期一般为两年，而租赁期内之租赁付
款为固定。租赁合约仅限于将该场所用作办公室，
不得用于其他用途。
24. BANK BOROWINGS (CONTINUED)
(v) The bank borowing is secured by the investment property (Note
18) of the Group and are repayable up to 2025. The Group aply
loan extension in April 2025 and the bank borowing is extended
and to be repayable up to 2027. The bank borowing does not
contain a repayment on demand clause.
The bank borowing of aproximately HK$52,673,000 (equivalent
to EUR6,255,000) (2024: HK$54,778,000 (equivalent to
EUR6,485,625) as at 31 March 2025 is caried at fixed interest
rate of 5.875% (2024: 5.875%).
The remaining balance of bank borowing is caried at floating
interest rate at EURIBOR 3 months plus 2.75% per anum. During
the year, the bank borowing is interest bearing at floating rates
ranged from 5.433% to 6.652% (2024: 5.765% to 6.722%) per
anum.
25. LEASES LIABILITIES
The Group has lease contracts for ofice premises. Leases
of ofice premises generaly have lease terms for two years
and lease payments are fixed over the lease terms. The lease
contracts are restricted to use the premises as ofice and for
no other purpose.
As at 1 April 2023于二零二三年四月一日1,759
Aditions添置5,008
Interest expenses利息开支147
Lease payments租赁付款(2,575)
As at 31 March 2024于二零二四年三月三十一日4,339
Interest expenses利息开支221
Lease payments租赁付款(2,801)
As at 31 March 2025于二零二五年三月三十一日1,759
| As at 31 March | |||
|---|---|---|---|
| 于三月三十一日 | |||
| 2025 | 2024 | ||
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| 1,759 |
|---|
| – |
| 1,759 |
| Future lease payments | Interests | Present value | ||
|---|---|---|---|---|
| 31 March 2025 | 二零二五年三月三十一日 | 未来租赁付款 | 利息 | 现值 |
| HK$’000 | HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | 千港元 |
| 1,793 | 34 | 1,759 |
|---|
| Future lease payments | Interests | Present value | ||
|---|---|---|---|---|
| 31 March 2024 | 二零二四年三月三十一日 | 未来租赁付款 | 利息 | 现值 |
| HK$’000 | HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | 千港元 |
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 |
| 212 |
|---|
| 3,013 |
| 347 |
IBI Group Holdings Limited
Anual Report 2024/2025
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
- （续）
本集团租赁的未来租赁付款的现值分析如下：
未来租赁付款之到期日如下：
25. LEASES LIABILITIES (CONTINUED)
The present value of future lease payments of the Group’s
leases are analysed as:
Clasified under:分类为：
Curent portion流动部分2,580
Non-curent portion非流动部分1,759
4,339
Future lease payments are due as folow:
Within one year一年以内
Within one year一年以内2,8012212,580
After one year but within two years一年以上但于两年内1,793341,759
4,5942554,339
Short term lease expenses短期租赁开支230
Total cash outflows for leases租赁现金流出总额2,805
Agregate undiscounted comitments for
short-term leases
短期租赁未贴现承诺总额
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 |
| 8,493 |
|---|
| 4,460 |
| 5,404 |
| 1,277 |
| 19,634 |
| Number of ordinary shares | Share capital | ||||
|---|---|---|---|---|---|
| 普通股数目 | 股本 | ||||
| 2025 | 2024 | 2025 | 2024 | ||
| 二零二五年 | 二零二四年 | 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||||
| 千港元 | 千港元 | ||||
| 10,000,000,000 | 100,000 | |
|---|---|---|
| 800,000,000 | 800,000,000 | 8,000 |
IBI Group Holdings Limited
2024/2025年度报告
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
- （续）
经营租赁 — 本集团作为出租人
本集团根据各项经营租赁安排租赁其于爱尔兰的
投资物业（附注18），该等经营租赁安排将于二
零二六年至二零三一年到期，部分经营租赁安排
于二零二六年终止。
于报告期末，本集团于未来期间根据与其租户订
立的不可撤销经营租赁应收的未贴现租赁付款如
下：
26. 股本
综合财务状况表所示于二零二五年及二零二四年
三月三十一日的股本指本公司的已发行股本，详
情如下：
25. LEASES LIABILITIES (CONTINUED)
Operating lease — the Group as lesor
The Group leases its investment property (Note 18) in Ireland
under various operating lease arangements which wil be
expired betwen 2026 to 2031 and some of operating lease
arangements have a break option in 2026.
At the end of the reporting period, the undiscounted lease
payments receivable by the Group in future periods under
non-cancelable operating leases with its tenants are as
folows:
Within one year于一年内6,146
After one year but within two years一年后但两年内6,067
After two years but within five years两年后但五年内2,336
Later than five years五年后–
14,549
26. SHARE CAPITAL
The share capital as at 31 March 2025 and 2024 in the
consolidated statement of financial position represented the
isued share capital of the Company and as folows:
Ordinary shares of
HK$0.01 each
每股面值0.01 港元的
普通股
Authorised:法定：100,000
Isued and fuly paid:已发行及缴足：8,000
IBI Group Holdings Limited
Anual Report 2024/2025
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
- （续）
附注：
于二零一六年九月二十日，本公司采纳购股权计划（「购股
权计划」）。本公司董事会可酌情邀请任何曾对本集团作出
贡献的合资格人士承购股权。购股权计划的条款符合上
市规则第17章的规定。
购股权计划项下可能授出的购股权所涉及股份数目上限，
合计不得超过于上市日期的已发行股份总数10%（即合共
80,000,000股）。
已授出购股权须于支付作为获授购股权代价的1港元款项
时承购。购股权可于不超过其被视为授出及接纳当日起计
十年期间随时行使。认购价由本公司董事会厘定，且不得
少于以下各项最高者：(i)本公司股份于发售日期于联交所
每日报价表所示正式收市价；(i)股份于紧接发售日期前五
个营业日于联交所每日报价表所示平均收市价；及(i)股份
面值。
于二零二五年及二零二四年三月三十一日，概无购股权于
购股权计划获采纳后授出，故并无尚未行使的购股权。
26. SHARE CAPITAL (CONTINUED)
Note:
On 20 September 2016, the Company adopted a share option scheme
(the “Share Option Scheme”). The Board of the Company may, at its
discretion, invite any eligible persons who have made contributions to the
Group to take up share options. The terms of the Share Option Scheme
are in acordance with the provisions of Chapter 17 of the Listing Rules.
The maximum number of shares in respect of which options may be
granted under the Share Option Scheme shal not in agregate exced
10% of al the shares in isue as at the date of the Listing (i.e. a total of
80,000,000 shares).
Options granted shal be taken up upon payment of HK$1 as
consideration for the grant of option. Options may be exercised at any
time not exceding a period of 10 years from the date which the share
option is demed to be granted and acepted. The subscription price
is determined by the board of directors of the Company, and shal not
be les than whichever is the highest of (i) the oficial closing price of
the Company’s shares as stated in daily quotations shet of the Stock
Exchange on the ofer date; (i) the average of the closing price of the
shares as stated in daily quotations shet of the Stock Exchange for
the five busines days imediately preceding the ofer date; and (i) the
nominal value of a share.
As at 31 March 2025 and 2024, no share options had ben granted since
the adoption of the Share Option Scheme and there were no outstanding
share options.
| Share premium | Retained profits | Total | ||
|---|---|---|---|---|
| 股份溢价 | 保留溢利 | 总计 | ||
| HK$’000 | HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | 千港元 | ||
| (Note (i)) | ||||
| （附注(i)） | ||||
IBI Group Holdings Limited
2024/2025年度报告
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
27. 储备
本集团各综合权益项目的期初结余与期末结余的
对账载于综合权益变动表。本公司个别储备项目
于年初至年末的变动详情载列如下：
附注：
(i) 股份溢价
股份溢价指所收取款项超出本公司已发行股份面值
的部分。
27. RESERVES
The reconciliation betwen the opening and closing balances
of each component of the Group’s consolidated equity
is set out in the consolidated statement of changes in
equity. Details of the changes in the Company’s individual
components of reserves betwen the begining and the end
of the year are set out below:
At 1 April 2023于二零二三年四月一日73,61377,420151,033
Profit and total comprehensive
income for the year
年内溢利及全面收入总额
–19,29119,291
At 31 March 2024于二零二四年三月三十一日73,61396,711170,324
Profit and total comprehensive
income for the year
年内溢利及全面收入总额
–11,22811,228
Dividend declared and paid (Note 13)已宣派及派付股息（附注13）–(4,000)(4,000)
At 31 March 2025于二零二五年三月三十一日73,613103,939177,552
Note:
(i) Share premium
Share premium represents the exces of the proceds received
over the nominal value of the Company’s shares isued.
| 2025 | 2024 | |||
|---|---|---|---|---|
| 二零二五年 | 二零二四年 | |||
| Notes | HK$’000 | HK$’000 | ||
| 附注 | 千港元 | 千港元 |
| 1 |
|---|
| 165 |
| 177,589 |
| 8,314 |
| 186,068 |
| 517 |
| 517 |
| 185,551 |
| 185,552 |
| 8,000 |
| 177,552 |
| 185,552 |
IBI Group Holdings Limited
Anual Report 2024/2025
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
28. 本公司财务状况表
代表董事
28. STATEMENT OF FINANCIAL POSITION OF
THE COMPANY
Non-curent asets非流动资产
Investment in a subsidiary于附属公司的投资1
Curent asets流动资产
Other receivables其他应收款项175
Amounts due from subsidiaries应收附属公司款项165,370
Cash and cash equivalents现金及现金等价物13,458
Total curent asets流动资产总值179,003
Curent liabilities流动负债
Other payables and acruals其他应付款项及应计费用680
Total curent liabilities流动负债总额680
Net curent asets流动资产净值178,323
NET ASETS资产净值178,324
Capital and reserves资本及储备
Share capital股本268,000
Reserves储备27170,324
TOTAL EQUITY总权益178,324
On behalf of directors
Neil David HOWARDSteven Paul SMITHERS
DirectorDirector
董事董事
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 |
| 8,337 |
|---|
IBI Group Holdings Limited
2024/2025年度报告
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
29. BANKING FACILITIES
As at 31 March 2025 and 2024, the Group’s bank facilities
(including bank borowings and performance bonds) were
in the total of HK$165.5 milion and HK$169.6 milion
respectively.
As at 31 March 2025 and 2024, the bank facilities were
guaranted and secured by the folowing:
(a) investment property (Note 18);
(b) a personal guarante by a director;
(c) guarante as provided by the HKMC Insurance Limited;
(d) a charge on securities listed in Hong Kong (Note 17);
(e) a fixed and floating charge on the trade receivables of a
group company;
(f) guarantes provided by group companies;
(g) pledged bank deposits; and
(h) corporate guarantes isued by the Company.
As at 31 March 2025 and 2024, the Group had unutilised
banking facilities of HK$52.3 milion and HK$61.5 milion
respectively.
30. RELATED PARTY TRANSACTIONS
(a) Compensation of key management personel
The remuneration of key management personel, who
are the directors of the Company, for the years ended
31 March 2025 and 2024 were as folows:
Compensation of key management
personel
主要管理人员薪酬
7,524
29. 银行融资
于二零二五年及二零二四年三月三十一日，本集
团的银行融资（包括银行借款及履约保证）总额
分别为165.5百万港元及169.6百万港元。
于二零二五年及二零二四年三月三十一日，所获
授银行融资以下列各项作抵押：
(a) 投资物业（附注18）；
(b) 一名董事的个人担保；
(c) 由香港按证保险有限公司提供的担保；
(d) 香港上市证券的押记（附注17）；
(e) 一间集团公司贸易应收款项的固定及浮动
押记；
(f) 集团公司提供的担保；
(g) 已抵押银行存款；及
(h) 本公司出具的企业担保。
于二零二五年及二零二四年三月三十一日，本集
团的未动用银行融资分别为52.3百万港元及61.5
百万港元。
30. 关联方交易
(a) 主要管理人员薪酬
截至二零二五年及二零二四年三月三十一
日止年度，主要管理人员（即本公司董事）
的薪酬如下：
| Dividend payables | Interest payables (Note 23) | Bank borrowings (Note 24) | Lease liabilities (Note 25) | Total | ||
|---|---|---|---|---|---|---|
| 应付股息 | 应付利息 （附注23） | 银行借款 （附注24） | 租赁负债 （附注25） | 总计 | ||
| HK$’000 | HK$’000 | HK$’000 | HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | 千港元 | 千港元 | 千港元 |
| – | 46 | 77,997 | 4,339 | 82,382 |
|---|---|---|---|---|
| (4,000) | – | – | – | (4,000) |
| – | – | 9,838 | – | 9,838 |
| – | – | (7,405) | – | (7,405) |
| – | (3,982) | – | – | (3,982) |
| – | – | – | (2,580) | (2,580) |
| – | – | – | (221) | (221) |
| (4,000) | (3,982) | 2,433 | (2,801) | (8,350) |
| 4,000 | – | – | – | 4,000 |
| – | 3,968 | – | – | 3,968 |
| – | – | – | 221 | 221 |
| – | – | (167) | – | (167) |
| 4,000 | 3,968 | (167) | 221 | 8,022 |
| – | 32 | 80,263 | 1,759 | 82,054 |
IBI Group Holdings Limited
Anual Report 2024/2025
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
31. 综合现金流量表之补充附注
融资活动产生之负债对账：
31. NOTES SUPORTING CONSOLIDATED
STATEMENT OF CASH FLOWS
Reconciliation of liabilities arising from financing activities:
At 1 April 2023于二零二三年四月一日–82780,8491,75983,435
Changes from cash flows:现金流变动：
Proceds from bank borowings银行借款所得款项–20,000–20,000
Repayment of bank borowings偿还银行借款–(22,217)–(22,217)
Interests paid on bank borowings银行借款已付利息–(4,997)–(4,997)
Repayment of principal element of
lease payments
偿还租赁付款的本金部分
–(2,428)(2,428)
Payment of interest element of
lease payments
支付租赁付款的利息部分
–(147)(147)
Total changes from financing
cash flows
融资现金流的变动总额
–(4,997)(2,217)(2,575)(9,789)
Other changes:其他变动：
Aditions of lease liabilities增加租赁负债–5,0085,008
Interest expenses on bank borowings银行借款利息开支–4,221–4,221
Interest expenses on lease liabilities租赁负债利息开支–147147
Exchange realignment汇兑调整–(5)(635)–(640)
Total other changes其他变动总额–4,216(635)5,1558,736
At 31 March 2024于二零二四年三月三十一日
Changes from cash flows:现金流变动：
Dividend paid已付股息
Proceds from bank borowings银行借款所得款项
Repayment of bank borowings偿还银行借款
Interests paid on bank borowings银行借款已付利息
Repayment of principal element of
lease payments
偿还租赁付款的本金部分
Payment of interest element of
lease payments
支付租赁付款的利息部分
Total changes from financing
cash flows
融资现金流的变动总额
Other changes:其他变动：
Dividend recognised as distribution确认为分派的股息
Interest expenses on bank borowings银行借款利息开支
Interest expenses on lease liabilities租赁负债利息开支
Exchange realignment汇兑调整
Total other changes其他变动总额
At 31 March 2025于二零二五年三月三十一日
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 |
| 46,017 |
|---|
IBI Group Holdings Limited
2024/2025年度报告
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
32. GUARANTES
The Group provided guarantes in respect of the
performance bonds isued by a bank and an insurer in favour
of the customers of certain construction contracts. Details of
these guarantes as of the end of reporting periods were as
folows:
Agregate value of the performance
bonds isued in favour of customers
向客户发出的履约保证总值
41,631
The directors are of the opinion that it is not probable that
the bank or insurer wil claim against the Group for loses
under the guarantes as it is unlikely that the Group wil be
unable to fulfil the performance requirements of the relevant
contracts. The performance bonds are secured by the
pledged deposits of the Group and certain performance
bonds are also secured by corporate guarantes of certain
group companies. Acordingly, no provision for the Group’s
obligations under the guarantes has ben made as at 31
March 2025 and 2024.
33. CAPITAL COMITMENTS
As at 31 March 2025 and 2024, the Group did not have any
capital comitments.
34. CAPITAL MANAGEMENT
The Group’s objective of managing capital is to safeguard
the Group’s ability to continue as a going concern in order
to provide returns for shareholders and benefits for other
stakeholders and to maintain an optimal capital structure to
reduce cost of capital. The Group’s overal strategy remains
unchanged from prior year.
The Group monitors capital using gearing ratio, which is total
debts to equity. Total debts include bank borowings and
lease liabilities. Equity represents total equity of the Group.
32. 担保
本集团就一间银行及一间保险公司向若干建筑合
约的客户发出的履约保证提供担保。该等担保截
至报告期末的详情如下：
董事认为，银行或保险公司可能不会就担保亏损
向本集团索赔，原因为本集团不太可能无法履行
相关合约的履约规定。有关履约保证以本集团的
已抵押存款作抵押，而若干履约保证亦以若干集
团公司的企业担保作抵押。因此，于二零二五年
及二零二四年三月三十一日，概无就本集团的担
保项下责任作出任何拨备。
33. 资本承担
于二零二五年及二零二四年三月三十一日，本集
团并无任何资本承担。
34. 资本管理
本集团资本管理目标乃保障本集团的持续经营能
力，以向股东提供回报及为其他利益相关者提供
利益，并维持最佳资本结构，以减少资金成本。
本集团的整体战略与上一年维持不变。
本集团采用资产负债比率（等于总债务除以权益）
监控资本。总债务包括银行借款及租赁负债。权
益指本集团的权益总额。
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 |
| 80,263 |
|---|
| 1,759 |
| 82,022 |
| 167,344 |
| 49% |
IBI Group Holdings Limited
Anual Report 2024/2025
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
- （续）
本公司董事积极定期检讨及管理本集团的资本架
构，并考虑本集团的未来资本需求以确保最佳的
股东回报。本集团管理资本架构并根据经济状况
的变动及相关资产的风险特征对资本架构作出调
整。为维持或调整资本结构，本集团可能调整派
付予股东的股息金额、向股东返还资本、发行新
股份或出售资产减债。
于报告期末的资产负债比率如下：
35. 财务风险管理
在本集团的日常业务过程中，本集团来自金融工
具的主要风险为信贷风险、利率风险、股本价格
风险、流动资金风险及货币风险。本集团的整体
风险管理针对难以预测的金融市场，并寻求尽量
降低对本集团财务表现造成的潜在不利影响。风
险管理由主要管理层根据董事会批准的政策进行。
本集团并无书面风险管理政策。然而，董事定期
会面以识别及评估风险并制定策略以管理财务风
险。
一般而言，本集团就其风险管理采取保守策略。
本集团并无使用任何衍生工具及其他工具作对冲
用途，亦无持有或发行衍生金融工具作交易用途。
34. CAPITAL MANAGEMENT (CONTINUED)
The directors of the Company actively and regularly review
and manage the Group’s capital structure, taking into
consideration the future capital requirements of the Group,
to ensure optimal shareholders’ returns. The Group manages
the capital structure and makes adjustments to it in light of
changes in economic conditions and the risk characteristics
of the underlying asets. In order to maintain or adjust
the capital structure, the Group may adjust the amount of
dividends paid to shareholders, return capital to shareholders,
isue new shares or sel asets to reduce debts.
The gearing ratios as at the end of reporting period were as
folows:
Bank borowings银行借款77,997
Lease liabilities租赁负债4,339
Total debts总债务82,336
Total equity权益总额162,842
Gearing ratio资产负债比率51%
35. FINANCIAL RISK MANAGEMENT
The main risks arising from the Group’s financial instruments
in the normal course of the Group’s busines are credit
risk, interest rate risk, equity price risk, liquidity risk and
curency risk. The Group’s overal risk management focuses
on the unpredictability of financial markets and seks to
minimise potential adverse efects on the Group’s financial
performance. Risk management is caried out by the key
management under the policies aproved by the board of
directors. The Group does not have writen risk management
policies. However, the directors met regularly to identify and
evaluate risks and to formulate strategies to manage financial
risks.
Generaly, the Group introduces conservative strategies on
its risk management. The Group has not used any derivatives
and other instruments for hedging purposes nor does it hold
or isue derivative financial instruments for trading purposes.
IBI Group Holdings Limited
2024/2025年度报告
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
- （续）
(a) 信贷风险
本集团的信贷风险主要归因于银行结余、
已抵押存款以及贸易及其他应收款项。本
集团的银行结余及已抵押存款乃存放于声
誉良好的银行及金融机构。由于相关银行
信贷状况良好，董事预期本集团的银行结
余及已抵押存款不会承受任何信贷风险。
就贸易及其他应收款项而言，综合财务状
况表所示贸易及其他应收款项已扣除呆账
应收款项拨备（如有）。有关本集团面对贸
易及其他应收款项所产生信贷风险的定量
披露载于附注20。
就贸易及其他应收款项以及合约资产而言，
本集团的政策为仅与信誉良好的交易方进
行交易。为将信贷风险减至最低，管理层
已制定一套信贷政策并委任团队负责厘定
信贷额度、信贷批准及其他监察程序，以
确保能跟进收回逾期债项。本集团通常并
无向交易方取得抵押品。
本集团所面对的信贷风险主要受每名债
务人的个别特征所影响。于二零二五年三
月三十一日，本集团存在若干信贷风险集
中情况，乃由于本集团的贸易应收款项的
47%及90%（二零二四年：35%及93%）分
别来自本集团的最大贸易债务人及五大贸
易债务人。
35. FINANCIAL RISK MANAGEMENT
(CONTINUED)
(a) Credit risk
The Group’s credit risk is primary atributable to bank
balances, pledged deposits and trade and other
receivables. The Group’s bank balances and pledged
deposits are placed with reputable banks and financial
institutions. Given high credit standing of the relevant
banks, the directors do not expect any credit risk
exposure for the Group’s bank balances and pledged
deposits.
For trade and other receivables, the amounts included
in trade and other receivables in the consolidated
statements of financial position are net of provisions for
doubtful receivables if any. The quantitative disclosures
in respect of the Group’s exposure to credit risk arising
from trade and other receivables are set out in Note 20.
In respect of trade and other receivables and contract
asets, it is the Group’s policy to deal only with
creditworthy counterparties. In order to minimise credit
risk, management has formulated a credit policy and
delegated a team responsible for determination of
credit limits, credit aprovals and other monitoring
procedures to ensure that folow-up action is taken to
recover overdue debts. Normaly, the Group does not
obtain colateral from the counterparties.
The Group’s exposure to credit risk is influenced mainly
by the individual characteristics of each debtor. As at
31 March 2025, the Group has certain concentration
of credit risk as 47% and 90% (2024: 35% and 93%)
of the Group’s trade receivables were due from the
Group’s largest trade debtors and the five largest trade
debtors respectively.
IBI Group Holdings Limited
Anual Report 2024/2025
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
- （续）
(a) 信贷风险（续）
本集团按相等于年限内预期信贷亏损金额
就贸易应收款项及合约资产计量亏损拨备，
而年限内预期信贷亏损金额则运用拨备矩
阵计算。由于本集团过往的信贷亏损经验
并无显示就不同客户分部有重大差异的亏
损模式，基于逾期状况计提的亏损拨备不
会于本集团不同客户群之间进一步区分。
预期信贷亏损率按过往三年实际亏损经验
计算。该等比率已作调整，以反映所收集
过往数据的年度内的经济状况、现时经济
状况及本集团对应收款项预计年期内经济
状况的意见之间的差异。于得出预期信贷
亏损金额时已考虑金钱的时间值，并就客
户及经济环境的特定前瞻性因素作出调整。
由于根据预期信贷亏损模式计量的亏损拨
备并不重大，故并无就贸易应收款项及合
约资产计提减值拨备。
按金及其他应收款项乃按摊销成本计量，
且视为具有较低信贷风险，原因为该等款
项的信用质素良好且过往并无违约记录。
该等款项亦须受预期信贷亏损模式及限于
12个月预期信贷亏损的亏损拨备所规限。
于应用预期信贷亏损模式后，本集团认为
该等金融工具的预期信贷亏损的影响并不
重大。
35. FINANCIAL RISK MANAGEMENT
(CONTINUED)
(a) Credit risk (Continued)
The Group measures los alowances for trade
receivables and contract asets at an amount equal
to lifetime ECLs, which is calculated using a provision
matrix. As the Group’s historical credit los experience
does not indicate significantly diferent los paterns for
diferent customer segments, the los alowance based
on past due status is not further distinguished betwen
the Group’s diferent customer bases.
ECLs rates are based on actual los experience over
the past 3 years. These rates are adjusted to reflect
diferences betwen economic conditions during the
year over which the historic data has ben colected,
curent conditions and the Group’s view of economic
conditions over the expected lives of the receivables.
Time value of money is considered in ariving at the
amount of ECLs, adjusted for forward-loking factors
specific to the customers and economic environment.
No impairment for trade receivables and contract
asets is provided as the los alowance measured
under the ECLs model is insignificant.
The deposits and other receivables are measured at
amortised costs and are considered to have low credit
risk because they are in god credit quality and no
historical default noted. They are also subject to the
ECLs model and the los alowances limited to 12
months ECLs. After aplying the expected credit los
model, the Group concluded that impact of ECLs for
these financial instruments are insignificant.
IBI Group Holdings Limited
2024/2025年度报告
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
- （续）
(b) 利率风险
利率风险指因利率变动而产生的金融工具
未来现金流量公平值波动之风险。浮动利
率工具会令本集团面临现金流量利率风险，
而固定利率工具则令本集团面临公平值利
率风险。
本集团并无使用任何金融工具以对冲潜在
利率波动。
除已抵押银行存款（附注22）、现金及现金
等价物以及银行借款（附注24）外，本集团
并无持有任何其他重大计息金融资产及负
债。任何由银行不时颁布之银行结余利率
变动不被视为对本集团有重大影响。
本集团的利率风险主要来自浮动利率及固
定利率的银行借款。银行借款使本集团同
时面临现金流量利率风险及公平值利率风
险。本集团银行借款利率及偿还条款披露
于综合财务报表附注24。因此，下文的敏
感性分析仅包括对银行借款的分析。
倘借款利率上升╱下降100个基点，而所
有其他变数维持不变，则本集团截至二零
二五年三月三十一日止年度的除税后溢利
将（减少）╱增加约229,000港元（二零二四
年：192,000港元）。
上文呈列的敏感度分析透过假设利率变动
于各报告日期发生并已应用至该日已存在
上述金融工具利率风险而厘定。上升╱下
降100个基点为管理层对截至下个年度报
告日期止期间内利率合理可能变动的评估。
35. FINANCIAL RISK MANAGEMENT
(CONTINUED)
(b) Interest rate risk
Interest rate risk means the risk on the fluctuation of
fair value on future cash flows of financial instruments
which arise from changes in interest rates. Floating
interest rate instruments wil result in the Group facing
the cash flow interest rate risk, and fixed interest rate
instruments wil result in the Group facing the fair value
interest rate risk.
The Group has not used any financial instruments to
hedge potential fluctuations in interest rates.
Other than pledged bank deposits (Note 22), cash and
cash equivalents and bank borowings (Note 24), the
Group does not have any other significant interest-
bearing financial asets and liabilities. Any change in the
interest rate on bank balances promulgated by banks
from time to time is not considered to have significant
impact of the Group.
The Group’s interest rate risk arises primarily from the
floating rate and fixed rate bank borowings. Bank
borowings expose the Group to both cash flow interest
rate risk and fair value interest rate risk. The interest
rates and terms of repayment of the Group’s bank
borowings are disclosed in Note 24 to the consolidated
financial statements. Acordingly, the sensitivity analysis
below only includes analysis on bank borowings.
If interest rates of borowings had ben 100 basis
points higher/lower and al other variables were held
constant, the Group’s profit after tax for the year
ended 31 March 2025 would (decrease)/increase by
aproximately HK$229,000 (2024: HK$192,000).
The sensitivity analysis as presented above has ben
determined asuming that the change in interest
rates had ocured at each of reporting date and had
ben aplied to the exposure to interest rate risk for
the above financial instruments in existence at that
date. The 100 basis point higher/lower represents the
management’s asesment of a reasonably posible
change in interest rates over the period until the next
anual reporting date.
IBI Group Holdings Limited
Anual Report 2024/2025
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
- （续）
(c) 股本价格风险
本集团透过其上市证券投资承担股本价格
风险。管理层透过维持不同风险的投资组
合来管理该风险。本集团之股本价格风险
集中于在香港上市的证券。
下文之敏感度分析乃基于各报告日期末所
面对之股本价格风险而厘定。倘分类为按
公平值计入损益的金融资产的上市证券投
资的价格上涨╱下跌10%（二零二四年：
10%），则本年度除所得税开支前溢利将
增加╱减少约721,000港元（二零二四年：
666,000港元），原因是上市证券的公平值
出现变动。
(d) 流动资金风险
本集团的政策是定期监控现时及预期的流
动资金需求，确保维持充足的现金储备，
以应付短期及长期流动资金需求。
下表显示其金融负债的剩余合约。下表乃
基于本集团可能需要支付之最早日期编制
之金融负债未贴现金流量。具体而言，
具有按要求还款条款之银行借款可由银行
全权酌情决定行使。分析显示基于实体可
被要求支付之最早期间（即倘贷款人援引其
无条件权利要求即时偿还贷款时）之现金流
出。其他金融负债之到期日乃以协定还款
日期为基础。
35. FINANCIAL RISK MANAGEMENT
(CONTINUED)
(c) Equity price risk
The Group is exposed to equity price risk through
its listed securities investments. The management
manages this exposure by maintaining a portfolio of
investment with diferent risk profiles. The Group’s
equity price risk is concentrated on listed securities in
Hong Kong.
The sensitivity analyses below have ben determined
based on the exposure to the equity price risk at the
end of each reporting date. If the prices of the listed
securities investments clasified as financial asets at
fair value through profit or los had ben 10% (2024:
10%) higher/lower, the profit before income tax expense
for the year would increase/decrease by aproximately
HK$721,000 (2024: HK$666,000) as a result of the
changes in fair value of the listed securities.
(d) Liquidity risk
The Group’s policy is to regularly monitor curent
and expected liquidity requirements to ensure that it
maintains suficient reserves of cash to met its liquidity
requirements in the short and longer term.
The folowing tables show the remaining contractual
for its financial liabilities. The table has ben drawn
up based on the undiscounted cash flows of financial
liabilities based on the earliest date on which the Group
can be required to pay. Specificaly, bank borowings
with a repayment on demand clause can be exercised
at the bank’s sole discretion. The analysis shows the
cash outflow based on the earliest period in which the
entity can be required to pay, that is if the lenders were
to invoke their unconditional rights to cal the loans with
imediate efect. The maturity dates for other financial
liabilities are based on the agred repayment dates.
| Carrying amount | Total contractual undiscounted cash flow | Within 1 year or on demand | More than 1 year but less than 2 years | More than 2 years but less than 5 years | ||
|---|---|---|---|---|---|---|
| 账面值 | 合约未贴现 现金流量总额 | 1年内 或按要求 | 超过1年 但少于2年 | 超过2年 但少于5年 | ||
| HK$’000 | HK$’000 | HK$’000 | HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | 千港元 | 千港元 | 千港元 |
| 17,071 | 17,071 | 17,071 | – | – |
|---|---|---|---|---|
| 78,037 | 78,037 | 78,037 | – | – |
| 23,897 | 23,897 | 21,836 | 2,061 | – |
| 3,396 | 3,396 | 3,396 | – | – |
| 80,263 | 80,864 | 80,864 | – | – |
| 1,759 | 1,793 | 1,793 | – | – |
| 204,423 | 205,058 | 202,997 | 2,061 | – |
| – | 46,017 | 46,017 | – | – |
IBI Group Holdings Limited
2024/2025年度报告
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
- （续）
(d) 流动资金风险（续）
35. FINANCIAL RISK MANAGEMENT
(CONTINUED)
(d) Liquidity risk (Continued)
At 31 March 2025于二零二五年三月三十一日
Trade payables贸易应付款项
Acruals for costs of
contract works
合约工程成本应计费用
Retention payables应付保留款项
Other payables and Acruals其他应付款项及应计费用
Bank borowings银行借款
Lease liabilities租赁负债
Financial guarantes isued已发出的财务担保
Maximum amount
guaranted (Note 32)
所担保的最高金额（附注32）
At 31 March 2024于二零二四年三月三十一日
Trade payables贸易应付款项18,67518,67518,675–
Acruals for costs of
contract works
合约工程成本应计费用
128,969128,969128,969–
Retention payables应付保留款项22,13822,13817,9704,168–
Other payables and acruals其他应付款项及应计费用3,7293,7293,729–
Bank borowings银行借款77,99781,90526,90255,003–
Lease liabilities租赁负债4,3394,5942,8011,793–
255,847260,010199,06460,964–
Financial guarantes isued已发出的财务担保
Maximum amount
guaranted (Note 32)
所担保的最高金额（附注32）
–41,63141,631–
| Carrying amount | Total contractual undiscounted cash flow | Within 1 year or on demand | More than 1 year but less than 2 years | More than 2 years but less than 5 years | Beyond 5 years | ||
|---|---|---|---|---|---|---|---|
| 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 但少于两年 | 超过两年 但少于五年 | 五年以上 | ||
| 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 |
| 16,110 | 18,556 | 2,348 | 2,348 | 7,040 | 6,820 |
|---|
IBI Group Holdings Limited
Anual Report 2024/2025
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
- （续）
(d) 流动资金风险（续）
下表概述根据贷款协议所载协定还款时间
表应按要求偿还的银行借款（附注24(i)）的
到期日分析。有关金额包括使用合约利率
计算的利息付款。经计及本集团的财务状
况后，董事认为银行不大可能行使酌情权
要求即时还款。董事认为有关银行借款将
会根据贷款协议所载的还款时间表偿还。
(e) 货币风险
本集团交易货币所承受的外币风险极微，
原因为本集团附属公司持有的大部分金融
资产及负债均以该等附属公司的有关功能
货币计值。
本集团并无订立任何衍生工具以对冲外汇
风险。然而，管理层会监察外币风险敞口，
并将于有需要时考虑对冲重大外币风险敞口。
35. FINANCIAL RISK MANAGEMENT
(CONTINUED)
(d) Liquidity risk (Continued)
The table that folows sumarises the maturity analysis
of bank borowings with a repayment on demand
clause (Note 24(i) based on agred scheduled
repayments set out in the loan agrements. The
amounts include interest payments computed using
contractual rates. Taking into acount the Group’s
financial position, the directors do not consider that it
is probable that the bank wil exercise its discretion to
demand imediate repayment. The directors believe
that such bank borowings wil be repaid in acordance
with the scheduled repayment dates set out in the loan
agrements.
At 31 March 2025于二零二五年三月三十一日
Bank borowings (Note 24(i)银行借款（附注24(i)）
At 31 March 2024于二零二四年三月三十一日
Bank borowings(Note 24(i)银行借款（附注24(i)）17,85620,9262,3462,3487,0409,192
(e) Curency risk
The Group has minimal transactional curency exposure
to foreign curency risk as most of the financial asets
and liabilities held by the Group’s subsidiaries are
denominated in the respective functional curency of
such subsidiaries.
The Group has not entered into any derivative
instruments to hedge the foreign curency risk
exposures. However, the management monitors
the foreign curency risk exposure and wil consider
hedging significant foreign curency risk exposure
should the ned arise.
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 |
| 7,208 |
|---|
| 35,153 |
| 14,695 |
| 18,358 |
| 122,400 |
| 80,263 |
IBI Group Holdings Limited
2024/2025年度报告
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
36. 按类别划分的金融资产及金融负债概要
下表列示金融资产及负债的账面值：
下表载列以公平值列账之金融工具按公平值层级
之分析：
第一级： 相同资产或负债于活跃市场中之报价（未
经调整）；
第二级： 除第一级所包括报价外就资产或负债
可直接（即价格）或间接（即源自价格）
观察所得之数据；及
第三级： 为资产或负债之不可观察市场数据（不
可观察数据）之数据。
36. SUMARY OF FINANCIAL ASETS AND
FINANCIAL LIABILITIES BY CATEGORY
The folowing table shows the carying amounts of financial
asets and liabilities:
Financial asets金融资产
Financial asets at fair value through
profit or los
按公平值计入损益的金融资产
6,663
Financial asets measured at amortised cost按摊销成本计量的金融资产
Trade and other receivables贸易及其他应收款项37,916
Pledged deposits已抵押存款13,407
Cash and cash equivalents现金及现金等价物21,105
Financial liabilities金融负债
Financial liabilities at amortised costs按摊销成本列账的金融负债
Trade and other payables贸易及其他应付款项173,510
Bank borowings银行借款77,997
The folowing table provides an analysis of financial
instruments caried at fair value by level of fair value hierarchy:
Level 1: Quoted prices (unadjusted) in active markets for
identical asets or liabilities;
Level 2: Inputs other than quoted prices included within Level
1 that are observable for the aset or liability, either
directly (i.e. as prices) or indirectly (i.e. derived from
prices); and
Level 3: Inputs for the aset or liability that are not based on
observable market data (unobservable inputs).
| As at 31 March 2025 | |||||
|---|---|---|---|---|---|
| 于二零二五年三月三十一日 | |||||
| Level 1 | Level 2 | Level 3 | Total | ||
| 第一级 | 第二级 | 第三级 | 总计 | ||
| HK$’000 | HK$’000 | HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | 千港元 | 千港元 | ||
| 7,208 | – | – | 7,208 |
|---|---|---|---|
| 7,208 | – | – | 7,208 |
| As at 31 March 2024 | |||||
|---|---|---|---|---|---|
| 于二零二四年三月三十一日 | |||||
| Level 1 | Level 2 | Level 3 | Total | ||
| 第一级 | 第二级 | 第三级 | 总计 | ||
| HK$’000 | HK$’000 | HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | 千港元 | 千港元 | ||
IBI Group Holdings Limited
Anual Report 2024/2025
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
36. 按类别划分的金融资产及金融负债概要
（续）
截至二零二五年及二零二四年三月三十一日止年
度，各层级之间概无转拨。
(a) 并非按公平值计量的金融工具
并非按公平值计量的金融工具包括贸易及
其他应收款项、已抵押存款、现金及现金
等价物、贸易及其他应付款项、银行借款
及租赁负债。
由于到期日较短，故贸易及其他应收款项、
已抵押存款、现金及现金等价物、贸易及
其他应付款项、银行借款及租赁负债之账
面值与公平值相若。
(b) 按公平值计量的金融工具
附带标准条款及条件并于活跃流通市场买
卖的金融资产及负债公平值参考市场报价
厘定。
36. SUMARY OF FINANCIAL ASETS AND
FINANCIAL LIABILITIES BY CATEGORY
(CONTINUED)
Financial asets at fair value
through profit or los
按公平值计入损益的
金融资产
— Listed securities— 上市证券
Financial asets at fair value
through profit or los
按公平值计入损益的
金融资产
— Listed securities— 上市证券6,663–6,663
6,663–6,663
There were no transfers betwen levels during the year ended
31 March 2025 and 2024.
(a) Financial instruments not measured at fair value
Financial instruments not measured at fair value include
trade and other receivables, pledged deposits, cash
and cash equivalents, trade and other payables, bank
borowings and lease liabilities.
Due to their short term nature, the carying values of
trade and other receivables, pledged deposits, cash
and cash equivalents, trade and other payables, bank
borowings and lease liabilities aproximate to their fair
values.
(b) Financial instruments measured at fair value
The fair value of financial asets and liabilities with
standard terms and conditions and traded on active
liquid markets are determined with reference to quoted
market prices.
| Name of subsidiary | Place and date of incorporation and type of legal entity | Place of operations | Issued and fully paid-up capital | Attributable equity interest held | Principal activities | |
|---|---|---|---|---|---|---|
| Directly | Indirectly | |||||
| 附属公司名称 | 注册成立地点及日期以及 法律实体类别 | 经营地点 | 已发行及缴足股本 | 应占所持股权 | 主要业务 | |
| 直接 | 间接 | |||||
IBI Group Holdings Limited
2024/2025年度报告
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
37. 附属公司
于二零二五年三月三十一日，本公司主要附属公
司（全部均为有限公司）的详情如下：
37. SUBSIDIARIES
As at 31 March 2025, the particulars of the Company’s
principal subsidiaries, al of which are companies with limited
liability, are as folows:
IBI Corporate Holdings
Limited
BVI
14 April 2016
Limited liability company
BVIUS$100100%–Investment holding
IBI Corporate Holdings
Limited
英属处女群岛
二零一六年四月十四日
有限公司
英属处女群岛100美元投资控股
IBI Group LimitedHong Kong
9 May 2011
Limited liability company
Hong KongHK$100–100%Investment holding
IBI Group Limited香港
二零一年五月九日
有限公司
香港100港元投资控股
IBI LimitedHong Kong
14 April 1997
Limited liability company
Hong KongHK$1,000,000–100%Provision of renovation
contracting services for
property projects
IBI Limited香港
一九七年四月十四日
有限公司
香港1,000,000港元提供物业项目的
翻新承包服务
IBI Projects LimitedHong Kong
1 April 2005
Limited liability company
Hong KongHK$2–100%Provision of renovation
contracting services for
property projects
IBI Projects Limited香港
二零五年四月一日
有限公司
香港2港元提供物业项目的
翻新承包服务
IBI Macau LimitedMacau Special Administrative
Region
11 April 2005
Limited liability company
Macau Special
Administrative
Region
MOP25,000–100%Provision of renovation
contracting services for
property projects
IBI Macau Limited澳门特别行政区
二零五年四月十一日
有限公司
澳门特别行政区25,000澳门币提供物业项目的
翻新承包服务
IBI Holdings LimitedHong Kong
9 May 2011
Limited liability company
Hong KongHK$100–100%Provision of management
services within the
Group
IBI Holdings Limited香港
二零一年五月九日
有限公司
香港100港元提供本集团内部管理服务
| Name of subsidiary | Place and date of incorporation and type of legal entity | Place of operations | Issued and fully paid-up capital | Attributable equity interest held | Principal activities | |
|---|---|---|---|---|---|---|
| Directly | Indirectly | |||||
| 附属公司名称 | 注册成立地点及日期以及 法律实体类别 | 经营地点 | 已发行及缴足股本 | 应占所持股权 | 主要业务 | |
| 直接 | 间接 | |||||
IBI Group Holdings Limited
Anual Report 2024/2025
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
- （续）
该等附属公司于年末概无发行任何债务证券。
38. 批准财务报表
综合财务报表已于二零二五年六月二十六日获董
事会批准并授权刊发。
IBI Company Storage
Limited
BVI
14 April 2016
Limited liability company
BVIUS$100–100%Investment holding
IBI Company Storage
Limited
英属处女群岛
二零一六年四月十四日
有限公司
英属处女群岛100美元投资控股
Building Solutions LimitedHong Kong
9 April 2020
Limited liability company
Hong KongHK$10,000–80%Provision of products and
services with a focus on
air quality and modern
sustainable building
materials
Building Solutions Limited香港
二零二零年四月九日
有限公司
香港10,000港元提供专注于空气质量及
现代可持续性建筑材料
的产品及服务
IBI Investment Holdings
Limited
Hong Kong
28 July 2020
Limited liability company
Hong KongHK$100–100%Strategic investments
IBI Investment Holdings
Limited
香港
二零二零年七月二十八日
有限公司
香港100港元战略投资
IBI International
Investments Limited
Ireland
11 January 2022
Limited liability company
IrelandEUR2,700,000–100%Property investments
IBI International
Investments Limited
爱尔兰
二零二年一月十一日
有限公司
爱尔兰2,700,000欧元物业投资
None of the subsidiaries had isued any debt securities at the
end of the year.
38. APROVAL OF FINANCIAL STATEMENTS
The consolidated financial statements were aproved and
authorised for isue by the Board of Directors on 26 June
2025.
37. SUBSIDIARIES (CONTINUED)
| Year ended 31 March | ||||||
|---|---|---|---|---|---|---|
| 截至三月三十一日止年度 | ||||||
| 2025 | 2024 | 2023 | 2022 | 2021 | ||
| 二零二五年 | 二零二四年 | 二零二三年 | 二零二二年 | 二零二一年 | ||
| HK$’000 | HK$’000 | HK$’000 | HK$’000 | HK$’000 | ||
| Results | 业绩 | 千港元 | 千港元 | 千港元 | 千港元 | 千港元 |
| 331,408 |
|---|
| 44,303 |
| 10,432 |
| 8,390 |
| As at 31 March | ||||||
|---|---|---|---|---|---|---|
| 于三月三十一日 | ||||||
| 2025 | 2024 | 2023 | 2022 | 2021 | ||
| 二零二五年 | 二零二四年 | 二零二三年 | 二零二二年 | 二零二一年 | ||
| HK$’000 | HK$’000 | HK$’000 | HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | 千港元 | 千港元 | 千港元 | ||
| 124,330 |
|---|
| 248,431 |
| 372,761 |
| 205,417 |
| – |
| 205,417 |
| 167,344 |
IBI Group Holdings Limited
2024/2025年度报告
FINANCIAL SUMARY
财务概要
A sumary of the results and of the asets, liabilities and equity of
the Group for the last five financial years is as folows:
Revenue and other
gains/(loses)
收益及其他
收益╱（亏损）527,246308,517405,878556,702
Gros profits毛利46,81336,30467,95279,434
Profit before income tax expense除所得税开支前溢利2,6213,85933,69255,798
Profit atributable to the
owners of the Company
for the year
本公司拥有人
应占年内溢利
3502,80027,01054,390
Asets资产
Non-curent asets非流动资产126,896136,83921,28866,011
Curent asets流动资产294,038185,850296,411330,206
Total asets资产总值420,934322,689317,699396,217
Liabilities负债
Curent liabilities流动负债201,85698,409148,269213,808
Non-curent liabilities非流动负债56,23661,5161,7591,195
Total liabilities负债总额258,092159,925150,028215,003
Total equity总权益162,842162,764167,671181,214
本集团过往五个财政年度的业绩以及资产、负债及权
益概要如下：
IBI Group Holdings Limited
Anual Report 2024/2025
DEFINITIONS
释义
“2025 AGM”the 2025 anual general meting of the Company to be held on Friday,
5 September 2025
「二零二五年股东周年大会」指本公司将于二零二五年九月五日（星期五）举行的二零二五年股东周年大会
“A&A”alteration and adition
「A&A」指改建及加建
“Articles”the memorandum and articles of asociation of our Company as amended from
time to time
「组织章程细则」指本公司的组织章程大纲及细则（经不时修订）
“Audit Comite”the audit comite of the Company
「审核委员会」指本公司审核委员会
“Board”the board of Directors
「董事会」指董事会
“BVI”the British Virgin Islands
「英属处女群岛」指英属处女群岛
“China” or “PRC”the People’s Republic of China, excluding, for the purpose of this report, Hong
Kong, Macau and Taiwan
「中国」指中华人民共和国，就本报告而言，不包括香港、澳门及台湾
“CG Code”the Corporate Governance Code contained in Apendix 14 to the Listing Rules,
as amended from time to time
「企管守则」指上市规则附录14所载《企业管治守则》（经不时修订）
“Code Provision(s)”the code provisions set out in the CG Code
「守则条文」指企管守则所载守则条文
“Company” or “our Company”IBI Group Holdings Limited
「本公司」指IBI Group Holdings Limited
“Companies Ordinance”Companies Ordinance (Chapter 622 of the Laws of Hong Kong) which tok
efect from 3 March 2014, as amended, suplemented or otherwise modified
from time to time
「公司条例」指于二零一四年三月三日生效的香港法例第622章《公司条例》（经不时修订、
补充或另行修改）
“Controling Shareholder(s)”Mr. Neil David Howard and Briliant Blue Sky Limited, being the controling
shareholders of our Company, and shal have the meanings in the Listing Rules
「控股东」指本公司的控股东Neil David Howard先生及Briliant Blue Sky Limited，及将具
有上市规则的涵义
IBI Group Holdings Limited
2024/2025年度报告
DEFINITIONS
释义
“Ded”the ded of non-competition undertaking dated 20 September 2016 entered into
by the Controling Shareholders in favour of the Company
「契据」指控股东以本公司为受益人所订立日期为二零一六年九月二十日的不竞争承
诺契据
“Directors”the director(s) of our Company
「董事」指本公司董事
“ESG Report”the Environmental, Social and Governance Report of the Company
「ESG报告」指本公司的环境、社会及管治报告
“ESG Reporting Guide”the Environmental, Social and Governance Reporting Guide as contained in
Apendix 27 to the Listing Rules, as amended from time to time
「ESG报告指引」指上市规则附录27所载《环境、社会及管治报告指引》（经不时修订）
“Group”, “our Group”, “we”, “our”
or “us”
our Company and its subsidiaries (or our Company and any one or more of
its subsidiaries, as the content may require) or, where the context so requires,
in respect of the period before our Company became the holding company
of its present subsidiaries, the present subsidiaries of our Company and the
busineses caried on by such subsidiaries or (as the case may be) their
respective predecesors
「本集团」或「我们」指本公司及其附属公司（或本公司及其任何一家或多家附属公司，视乎内容需
要而定），或如文义所需，于本公司成为其现有附属公司的控股公司之前期间，
则指本公司的现有附属公司及该等附属公司所从事的业务或（视乎情况而定）
彼等各自的前身公司
“Hong Kong”the Hong Kong Special Administrative Region of the PRC
「香港」指中国香港特别行政区
“Listing Date”14 October 2016, the date on which dealings in the Shares on the Main Board
first comence
「上市日期」指二零一六年十月十四日，即股份首次开始在主板买卖的日期
“Listing Rules”the Rules Governing the Listing of Securities on the Main Board, as amended,
suplemented or otherwise modified from time to time
「上市规则」指主板《证券上市规则》（经不时修订、补充或以其他方式修改）
“Macau”the Macau Special Administrative Region of the PRC
「澳门」指中国澳门特别行政区
“Main Board”the stock exchange (excluding the option market) operated by the Stock
Exchange which is independent from and operating in paralel with GEM of the
Stock Exchange
「主板」指由联交所运作的证券交易所（不包括期权市场），独立于联交所GEM并与之
并行运作
“Model Code”the Model Code for Securities Transactions by Directors of Listed Isuers
contained in Apendix C3 to the Listing Rules, as amended from time to time
「标准守则」指上市规则附录C3所载《上市发行人董事进行证券交易的标准守则》（经不时修订）
IBI Group Holdings Limited
Anual Report 2024/2025
DEFINITIONS
释义
“Nomination Comite”the nomination comite of the Company
「提名委员会」指本公司提名委员会
“Prospectus”the prospectus of the Company dated 29 September 2016
「招股章程」指本公司日期为二零一六年九月二十九日的招股章程
“Remuneration Comite”the remuneration comite of the Company
「薪酬委员会」指本公司薪酬委员会
“Senior Management”the senior management of the Company
「高级管理层」指本公司高级管理层
“SFC”the Securities and Futures Comision of Hong Kong
「证监会」指香港证券及期货事务监察委员会
“SFO”the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong),
as amended and suplemented from time to time
「证券及期货条例」指香港法例第571章《证券及期货条例》（经不时修订及补充）
“Share Option Scheme”the share option scheme adopted by our Company on 20 September 2016
「购股权计划」指本公司于二零一六年九月二十日采纳的购股权计划
“Share(s)”ordinary shares of HK$0.01 each in the share capital of our Company
「股份」指本公司股本中每股面值0.01港元的普通股
“Shareholder(s)”the holder(s) of the Shares
「股东」指股份持有人
“Stock Exchange”The Stock Exchange of Hong Kong Limited
「联交所」指香港联合交易所有限公司
“Takeovers Code”the Codes on Takeovers and Mergers and Share Buy-backs isued by the SFC,
as amended, suplemented or otherwise modified from time to time
「收购守则」指证监会颁布的《公司收购、合并及股份回购守则》（经不时修订、补充或以其
他方式修改）
“HK$”, “HKD”, “Hong Kong dolar(s)”
or “cent(s)”
Hong Kong dolar(s) and cent(s), respectively, the lawful curency of Hong Kong
「港元」或「港仙」分别指香港法定货币港元及港仙
“Euro” or “EUR”Euro, the lawful curency of the European Union
「欧元」指欧盟法定货币欧元
“MOP”Macau pataca, the lawful curency of Macau
「澳门币」指澳门法定货币澳门币
“US$” or “USD” or “US dolars”United States dolars, the lawful curency of the United States
「美元」指美国法定货币美元
“%”per cent
「%」指百分比