08356 进业控股财务报表/环境、社会及管治资料：2024/25 年报

进业控股有限公司

2024/2025

年报

CHARACTERISTICS OF THE GEM OF THE STOCK EXCHANGE OF HONG KONG LIMITED

GEM has ben positioned as a market designed to acomodate smal and mid-sized companies to which

a higher investment risk may be atached than other companies listed on the Stock Exchange. Prospective

investors should be aware of the potential risks of investing in such companies and should make the

decision to invest only after due and careful consideration.

Given that the companies listed on GEM are generaly smal and mid-sized companies, there is a risk that

securities traded on GEM may be more susceptible to high market volatility than securities traded on

the Main Board of the Stock Exchange and no asurance is given that there wil be a liquid market in the

securities traded on GEM.

Hong Kong Exchanges and Clearing Limited and the Stock Exchange take no responsibility for the contents of this

report, make no representation as to its acuracy or completenes and expresly disclaim any liability whatsoever for

any los howsoever arising from or in reliance upon the whole or any part of the contents of this report.

This report, for which the directors (the “Directors”) of Tsun Yip Holdings Limited (the “Company”) colectively and

individualy acept ful responsibility, includes particulars given in compliance with the Rules Governing the Listing of

Securities on GEM of the Stock Exchange (the “GEM Listing Rules”) for the purpose of giving information with regard to

the Company. The Directors, having made al reasonable enquiries, confirm that, to the best of their knowledge and belief

the information contained in this report is acurate and complete in al material respects and not misleading or deceptive

and there are no other maters the omision of which would make any statement herein or this report misleading.

香港联合交易所有限公司

GEM

之特色

GEM

之定位，乃为中小型公司提供一个上市的市场，此等公司相比起其他在联交所上市的公司带有较高投资风

险。有意投资者应了解投资于该等公司之潜在风险，并应经过审慎周详考虑后方作出投资决定。

由于

GEM

上市的公司普遍为中小型公司，在

GEM

买卖之证券可能会承受较于联交所主板买卖之证券为高之市场

波动风险，亦无法保证在

GEM

买卖之证券会有高流通量之市场。

香港交易及结算所有限公司及联交所对本报告之内容概不负责，对其准确性或完整性亦不发表任何声明，并明确

表示概不就因本报告全部或任何部分内容而产生或因倚赖该等内容而引致之任何损失承担任何责任。

本报告载有根据联交所

GEM

证券上市规则（「

GEM

上市规则」）而提供有关进业控股有限公司（「本公司」）之资料，

本公司之董事（「董事」）愿就本报告共同及个别承担全部责任。董事在作出一切合理查询后确认，就彼等所知及所

信，本报告所载资料在所有重大方面均属准确、完整及并无误导或欺诈成份，且亦无遗漏任何其他事项致使本报

告所载之任何声明或本报告有所误导。

TSUN YIP HOLDINGS LIMITED

ANUAL REPORT 2024/2025 2

366,071
9,933
(11,903)
(11,341)
(20.1)

165,649
56,120
205,514
(40,930)

FINANCIAL HIGHLIGHTS

财务摘要

CONSOLIDATED RESULTS

For the year ended 31 March

Changes20252024

变动二零二五年二零二四年

HK$’000HK$’000

千港元千港元

Revenue

收益

-21.9%468,963

Gros profit

毛利

-45.0%18,063

Los before income tax

除所得税前亏损

23.0%(9,677)

Los atributable to the owners of the

Company

本公司拥有人应占亏损

21.6%(9,324)

Basic los per Share (HK cents)

每股基本亏损（港仙）

-12.6%(23.0)

CONSOLIDATED FINANCIAL POSITION

As at 31 March

Changes20252024

变动二零二五年二零二四年

HK$’000HK$’000

千港元千港元

Total asets

总资产

-24.3%218,960

Cash and cash equivalents

现金及现金等价物

16.4%48,222

Total liabilities

总负债

-67.0%622,390

Equity atributable to the owners of the

Company

本公司拥有人应占权益

89.9%(405,113)

综合业绩

截至三月三十一日止年度

综合财务状况

于三月三十一日

N/A
不适用 -7.2%
0.90 time
倍 60.5%

TSUN YIP HOLDINGS LIMITED

ANUAL REPORT 2024/2025 4

FINANCIAL HIGHLIGHTS

财务摘要

比率

于三月三十一日

附注：

(a)

权益回报乃按净亏损除以股东权益计算。

(b)

资产回报乃按净亏损除以总资产计算。

(c)

流动比率乃按流动资产总额除以流动负债总额计

算。

(d)

资产负债比率乃按承兑票据、可换股票据、租赁

负债及合约负债总和除以总资产计算。

RATIOS

As at 31 March

二零二五年二零二四年

Return on equity (Note a)

权益回报（附注

）

N/A

不适用

Return on asets (Note b)

资产回报（附注

）

–4.2%

Curent ratio (Note c)

流动比率（附注

）

0.33 time

倍

Gearing ratio (Note d)

资产负债比率（附注

）

176.7%

Notes:

(a) Return on equity is calculated as net los divided by Shareholders’ equity.

(b) Return on asets is calculated as net los divided by total asets.

liabilities.

(d) Gearing ratio is calculated as total amount of promisory note, convertible

notes, lease liabilities and contract liabilities divided by total asets.

进业控股有限公司

2024/2025

年报

CORPORATE PROFILE

公司简介

The Group is principaly engaged in the provision of civil enginering

services for the public sector in Hong Kong.

The Company was incorporated in the Cayman Islands as an

exempted company with limited liability under the Companies Law,

cap 22 (Law 3 of 1961 as consolidated and revised) of the Cayman

Islands on 15 March 2010 and the Shares were listed on GEM on

30 August 2010.

The Group’s busines of provision of civil enginering services

for the public sector is caried out through TYW and TY Civil

respectively with TYW responsible for signing and implementing

civil enginering contracts as a main contractor, a subcontractor

and forming joint operations while TY Civil responsible for signing

and implementing civil enginering contracts as a subcontractor

and forming joint operations.

本集团主要从事为香港公营部门提供土木工

程服务。

本公司于二零一零年三月十五日根据开曼群

岛公司法第

章（一九六一年法例

，经综合及

修订）于开曼群岛注册成立为获豁免有限责任

公司，其股份于二零一零年八月三十日在

GEM

上市。

本集团乃分别透过进业水务及进业土木为公

营部门提供土木工程服务业务，进业水务负责

以主承建商、分包商身份签订及履行土木工程

合约以及成立合营企业，而进业土木则负责以

分包商身份签订及履行土木工程合约以及成

立合营企业。

TSUN YIP HOLDINGS LIMITED

ANUAL REPORT 2024/2025 6

CORPORATE PROFILE

公司简介

为从事主要业务持有之注册

本集团已向政府发展局工务科取得下列注册，

以作为主承建商承接工程：

此外，本集团亦于建造业议会设立之非强制性

分包商注册制度下注册，以分包商身份参与土

木工程、道路工程及渠务服务以及水务工程服

务。

REGISTRATIONS HELD FOR UNDERTAKING

PRINCIPAL ACTIVITIES

The Group has obtained the folowing registrations from Works

Branch Development Bureau (

发展局工务科

) of the Government

for undertaking projects as a main contractor:

Registration

Value of project which the Group is eligible to undertake

under the relevant registration

注册本集团根据相关注册合资格承接之工程之价值

Aproved Contractors for Public Works –

Waterworks Category (Group C) (probationary

status)

A maximum of two contracts exceding HK$400 milion each in any

one category, provided that the total value of works in any one

category does not exced HK$1,500 milion

认可公共工程承建商－水务类别（丙组）

（试用期）

最多为任何一个类别中两项合约各超过

400,000,000

港元，惟任

何一个类别的工程总价值不超过

1,500,000,000

港元

Aproved Contractors for Public Works – Roads

and Drainage Category (Group C) (confirmed

status)

Contracts of any values exceding HK$400 milion

认可公共工程承建商－道路及渠务工程类别

（丙组）（确认）

任何价值超过

400,000,000

港元的合约

Aproved Contractors for Public Works – Site

Formation Category (Group C) (confirmed status)

Contracts of any values exceding HK$400 milion

认可公共工程承建商－地盘平整工程类别

（丙组）（确认）

任何价值超过

400,000,000

港元的合约

Also, the Group has registered under the Voluntary Subcontractor

Registration Scheme (

非强制性分包商注册制度

), which is

maintained by the Construction Industry Council (

建造业议会

), for

participating in civil enginering works, road works and drainage

services and waterworks enginering services as a sub-contractor.

TYW Lim (B Hong Inves hol TYW Lim （英属处 ╱香投资	(BVI) ited VI/ Kong)# tment ding (BVI) ited 女群#岛港）控股

Suc Capital (B Hong Inac Suc Capital （英属处 ╱香暂无	ceed Limited VI/ Kong)# tive ceed Limited 女群#岛港）经营

Axis C Lim (B Hong Inves hol Axis C Lim （英属处 ╱香投资	oncept ited VI/ Kong)# tment ding oncept ited 女群#岛港）控股

Core Lim (B Hong Inves hol Core Lim （英属处 ╱香投资	Galaxy ited VI/ Kong)# tment ding Galaxy ited 女群#岛港）控股

进业控股有限公司

2024/2025

年报

CORPORATE PROFILE

公司简介

本公司企业架构

下图说明本公司于二零二五年三月三十一日

之企业架构：

仅供识别

注册成立地点╱经营地点

CORPORATE STRUCTURE OF THE COMPANY

The folowing diagram ilustrates the corporate structure of the

Company as at 31 March 2025:

The Company

(Cayman Islands)

Investment holding

本公司

（开曼群岛）

投资控股

Profit Station

Limited

(BVI/

Hong Kong)

Investment

holding

Profit Station

Limited

（英属处女群岛

╱香港）

投资控股

CNC Logistic

Limited

(BVI/

Hong Kong)

Inactive

CNC Logistic

Limited

（英属处女群岛

╱香港）

暂无经营

Shenzhen

Qianhai Xinhua

TV Cultural

Development

Limited*

(PRC/PRC)

Inactive

深圳前海新华

电视文化发展

有限公司

（中国╱中国）

暂无经营

TYW

(Hong Kong/

Hong Kong)

Provision of

civil enginering

services

进业水务

（香港╱香港）

提供土木工程

服务

TY Civil

(Hong Kong/

Hong Kong)

Holding of motor

vehicles and

provision of civil

enginering

services

进业土木

（香港╱香港）

持有车辆及提供

土木工程服务

Xinhua TV

Asia-Pacific

Operating Co.,

Limited

(Hong Kong/

Hong Kong)

Inactive

新华电视亚太台

运营有限公司

（香港╱香港）

暂无经营

BayTV Network

Holdings

Limited

(Hong Kong/

Hong Kong)

Inactive

湾区电视网

有限公司

（香港╱香港）

暂无经营

100%

100%100%

97%97%

for identification purpose only

Place of incorporation/place of operation

TSUN YIP HOLDINGS LIMITED

ANUAL REPORT 2024/2025 8

CORPORATE INFORMATION

公司资料

DIRECTORS

Executive Directors

Mr. Kan Kwok Cheung (Chairman)

(Redesignated as Chairman on 16 April 2024)

Mr. Hui Ka Tsun (Chief Executive Oficer)

(Apointed on 16 April 2024)

Mr. Kan Chun Ting Max (Apointed on 16 April 2024)

Dr. Jiang Yan (Resigned on 16 April 2024)

Dr. Li Yong Sheng (Resigned on 16 April 2024)

Mr. Liu Da Yong (Resigned on 16 April 2024)

Non-executive Directors

Ms. Lam Shun Kiu Rosita (Apointed on 29 November 2024)

Mr. Law Cheuk Hung (Resigned on 29 November 2024)

Ms. Tang Li (Resigned on 16 April 2024)

Independent Non-executive Directors

Mr. Chin Chi Ho Stanley

Mr. Wong Chung Yip Keneth (Apointed on 16 April 2024)

Mr. Lai Ah Ming Leon (Apointed on 16 April 2024)

Mr. Wu Guo Ming (Resigned on 16 April 2024)

Mr. Wan Chi Keung Aaron, BS, JP

(Resigned on 16 April 2024)

Mr. Kwok Man To Paul (Resigned on 29 November 2024)

AUTHORISED REPRESENTATIVES

Mr. Hui Ka Tsun (Apointed on 16 April 2024)

Mr. Chan Chun Kit (Apointed on 23 May 2024)

Dr. Li Yong Sheng (Resigned on 16 April 2024)

Ms. Li Yuet Tai (Resigned on 23 May 2024)

COMPLIANCE OFICER

Dr. Li Yong Sheng (Resigned on 16 April 2024)

COMPANY SECRETARY

Mr. Chan Chun Kit (Apointed on 23 May 2024)

Ms. Li Yuet Tai (Resigned on 23 May 2024)

董事

执行董事

简国祥先生（主席）

（于二零二四年四月十六日调任为主席）

许嘉骏先生（行政总裁）

（于二零二四年四月十六日获委任）

简臻廷先生（于二零二四年四月十六日获委任）

姜岩博士（于二零二四年四月十六日辞任）

李永升博士（于二零二四年四月十六日辞任）

刘大勇先生（于二零二四年四月十六日辞任）

非执行董事

林舜娇女士（于二零二四年十一月二十九日

获委任）

罗焯雄先生（于二零二四年十一月二十九日辞任）

唐丽女士（于二零二四年四月十六日辞任）

独立非执行董事

钱志浩先生

王忠业先生（于二零二四年四月十六日获委任）

黎雅明先生（于二零二四年四月十六日获委任）

吴国铭先生（于二零二四年四月十六日辞任）

尹志强先生，

铜紫荆星章，太平绅士

（于二零二四年四月十六日辞任）

郭文韬先生（于二零二四年十一月二十九日辞任）

授权代表

许嘉骏先生（于二零二四年四月十六日获委任）

陈俊杰先生（于二零二四年五月二十三日获委任）

李永升博士（于二零二四年四月十六日辞任）

李月弟女士（于二零二四年五月二十三日辞任）

合规主任

李永升博士（于二零二四年四月十六日辞任）

公司秘书

陈俊杰先生（于二零二四年五月二十三日获委任）

李月弟女士（于二零二四年五月二十三日辞任）

进业控股有限公司

2024/2025

年报

CORPORATE INFORMATION

公司资料

审核委员会

钱志浩先生（主席）

王忠业先生（于二零二四年四月十六日获委任）

黎雅明先生（二零二四年十一月二十九日获委任）

唐丽女士（于二零二四年四月十六日辞任）

吴国铭先生（于二零二四年四月十六日辞任）

尹志强先生，

铜紫荆星章，太平绅士

（于二零二四年四月十六日辞任）

罗焯雄先生（于二零二四年十一月二十九日辞任）

郭文韬先生（于二零二四年十一月二十九日辞任）

薪酬委员会

黎雅明先生（主席）（于二零二四年四月十六日

获委任）

王忠业先生（于二零二四年四月十六日获委任）

钱志浩先生（于二零二四年四月十六日辞任

及于二零二四年十一月二十九日获重新委任）

尹志强先生，

铜紫荆星章，太平绅士

（于二零二四年

四月十六日辞任）

吴国铭先生（于二零二四年四月十六日辞任）

郭文韬先生（于二零二四年十一月二十九日辞任）

提名委员会

简国祥先生（主席）

（于二零二四年四月十六日调任为主席）

林舜娇女士（于二零二五年六月三十日获委任）

钱志浩先生（于二零二四年四月十六日辞任

及于二零二四年十一月二十九日获重新委任）

王忠业先生（于二零二四年四月十六日获委任）

黎雅明先生（于二零二四年四月十六日获委任）

姜岩博士（于二零二四年四月十六日辞任）

吴国铭先生（于二零二四年四月十六日辞任）

尹志强先生，

铜紫荆星章，太平绅士

（于二零二四年

四月十六日辞任）

郭文韬先生（于二零二四年十一月二十九日辞任）

许嘉骏先生（于二零二四年四月十六日获委任

及于二零二五年六月三十日辞任）

AUDIT COMITE

Mr. Chin Chi Ho Stanley (Chairman)

Mr. Wong Chung Yip Keneth (Apointed on 16 April 2024)

Mr. Lai Ah Ming Leon (Apointed on 29 November 2024)

Ms. Tang Li (Resigned on 16 April 2024)

Mr. Wu Guo Ming (Resigned on 16 April 2024)

Mr. Wan Chi Keung Aaron, BS, JP

(Resigned on 16 April 2024)

Mr. Law Cheuk Hung (Resigned on 29 November 2024)

Mr. Kwok Man To Paul (Resigned on 29 November 2024)

REMUNERATION COMITE

Mr. Lai Ah Ming Leon (Chairman) (Apointed on 16 April 2024)

Mr. Wong Chung Yip Keneth (Apointed on 16 April 2024)

Mr. Chin Chi Ho Stanley (Resigned on 16 April 2024 and

re-apointed on 29 November 2024)

Mr. Wan Chi Keung Aaron, BS, JP (Resigned on 16 April 2024)

Mr. Wu Guo Ming (Resigned on 16 April 2024)

Mr. Kwok Man To Paul (Resigned on 29 November 2024)

NOMINATION COMITE

Mr. Kan Kwok Cheung (Chairman)

(Redesignated as Chairman on 16 April 2024)

Ms. Lam Shun Kiu Rosita (Apointed on 30 June 2025)

Mr. Chin Chi Ho Stanley (Resigned on 16 April 2024 and

re-apointed on 29 November 2024)

Mr. Wong Chung Yip Keneth (Apointed on 16 April 2024)

Mr. Lai Ah Ming Leon (Apointed on 16 April 2024)

Dr. Jiang Yan (Resigned on 16 April 2024)

Mr. Wu Guo Ming (Resigned on 16 April 2024)

Mr. Wan Chi Keung Aaron, BS, JP (Resigned on 16 April 2024)

Mr. Kwok Man To Paul (Resigned on 29 November 2024)

Mr. Hui Ka Tsun (Apointed on 16 April 2024 and

resigned on 30 June 2025)

TSUN YIP HOLDINGS LIMITED

ANUAL REPORT 2024/2025 10

CORPORATE INFORMATION

公司资料

风险管理委员会

王忠业先生（主席）

（于二零二四年四月十六日获委任为成员

及于二零二四年十一月二十九日调任为主席）

钱志浩先生（于二零二四年四月十六日

调任为成员）

黎雅明先生（于二零二四年四月十六日获委任）

吴国铭先生（于二零二四年四月十六日辞任）

尹志强先生，

铜紫荆星章，太平绅士

（于二零二四年

四月十六日辞任）

郭文韬先生（于二零二四年十一月二十九日辞任）

核数师

国卫会计师事务所有限公司

执业会计师

注册办事处

Cricket Square

Hutchins Drive, PO Box 2681

Grand Cayman, KY1-1111

Cayman Islands

总部及香港主要营业地点

新界粉岭

安全街

号

海迅中心

座

楼

及

室

RISK MANAGEMENT COMITE

Mr. Wong Chung Yip Keneth (Chairman)

(Apointed as member on 16 April 2024 and

redesignated as Chairman on 29 November 2024)

Mr. Chin Chi Ho Stanley (Redesignated as member on

16 April 2024)

Mr. Lai Ah Ming Leon (Apointed on 16 April 2024)

Mr. Wu Guo Ming (Resigned on 16 April 2024)

Mr. Wan Chi Keung Aaron, BS, JP (Resigned on 16 April 2024)

Mr. Kwok Man To Paul (Resigned on 29 November 2024)

AUDITORS

HLB Hodgson Impey Cheng Limited

Certified Public Acountants

REGISTERED OFICE

Cricket Square

Hutchins Drive, PO Box 2681

Grand Cayman, KY1-1111

Cayman Islands

HEAD OFICE AND PRINCIPAL PLACE OF BUSINES

IN HONG KONG

Unit M & N, 8/F,

Hi-Sped Centre 1,

18 On Chuen Stret,

Fanling, New Teritories

进业控股有限公司

2024/2025

年报

CORPORATE INFORMATION

公司资料

开曼群岛股份过户登记总处

Conyers Trust Company (Cayman) Limited

Cricket Square, Hutchins Drive

PO Box 2681, Grand Cayman

KY1-1111, Cayman Islands

香港股份过户登记分处

卓佳证券登记有限公司

香港

夏悫道

号

远东金融中心

楼

主要往来银行

恒生银行有限公司

香港上海汇丰银行有限公司

中国光大银行

公司网站

htp:/w.tsunyip.hk

股份代号

PRINCIPAL SHARE REGISTRAR AND TRANSFER

OFICE IN CAYMAN ISLANDS

Conyers Trust Company (Cayman) Limited

Cricket Square, Hutchins Drive

PO Box 2681, Grand Cayman

KY1-1111, Cayman Islands

HONG KONG BRANCH SHARE REGISTRAR AND

TRANSFER OFICE

Tricor Investor Services Limited

17/F., Fast East Finance Centre,

16 Harcourt Road,

Hong Kong

PRINCIPAL BANKERS

Hang Seng Bank Limited

The Hongkong and Shanghai Banking Corporation Limited

China Everbright Bank

WEBSITE

htp:/w.tsunyip.hk

STOCK CODE

TSUN YIP HOLDINGS LIMITED

ANUAL REPORT 2024/2025 12

DEFINITIONS

释义

In this report, unles the context otherwise requires, the folowing

words and expresions shal have the folowing meanings when

used herein:

“AGM”the anual general meting of the Company

「股东周年大会」指本公司股东周年大会

“Articles”the Articles of Asociation of the Company, and the “Article” shal mean an article of

the Articles of Asociation

「细则」指本公司之组织章程细则，且「细则」则指组织章程细则之条款

“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

“Company”Tsun Yip Holdings Limited (

进业控股有限公司

), a company incorporated in the

Cayman Islands with limited liability on 15 March 2010

「本公司」指进业控股有限公司，一家于二零一零年三月十五日在开曼群岛注册成立之有限

公司

“Director(s)”director(s) of the Company from time to time

「董事」指本公司不时之董事

“Financial Statements”the audited financial statements of the Group for the year ended 31 March 2025

「财务报表」指本集团截至二零二五年三月三十一日止年度之经审核财务报表

“GEM”the GEM of the Stock Exchange

「

GEM

」指联交所

GEM

在本报告内，除文义另有所指外，下列词语及

词汇于本报告使用时具有以下涵义：

进业控股有限公司

2024/2025

年报

DEFINITIONS

释义

“GEM Listing Rules”the Rules Governing the Listing of Securities on GEM

「

GEM

上市规则」指

GEM

证券上市规则

“Government”the Government of Hong Kong

「政府」指香港政府

“Group”the Company and its subsidiaries

「本集团」指本公司及其附属公司

“HK$” and “HK cent(s)”Hong Kong dolar(s) and cent(s), respectively, the lawful curency of Hong Kong

「港元」及「港仙」指分别为香港法定货币港元及港仙

“Hong Kong”the Hong Kong Special Administrative Region of the PRC

「香港」指中国香港特别行政区

“Macau”the Macau Special Administrative Region of the PRC

「澳门」指中国澳门特别行政区

“Mr. Kan”Mr. Kan Kwok Cheung (

简国祥

), an executive Director and the controling

shareholder of the Company

「简先生」指本公司执行董事兼控股东简国祥先生

“PRC”the People’s Republic of China, excluding Hong Kong, Macau and Taiwan

「中国」指中华人民共和国，不包括香港、澳门及台湾

“SFO”the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong) as

amended or otherwise modified from time to time

「证券及期货条例」指香港法例第

章证券及期货条例（经不时修订或以其他方式修改）

“Share(s)”ordinary share(s) of the Company

「股份」指本公司之普通股

“Shareholder(s)”holder(s) of the Share(s)

「股东」指股份持有人

TSUN YIP HOLDINGS LIMITED

ANUAL REPORT 2024/2025 14

DEFINITIONS

释义

“Shunletat”Shunletat (BVI) Limited, a company incorporated in the BVI which is wholy and

beneficialy owned by Mr. Kan

「

Shunletat

」指

Shunletat (BVI) Limited

，一家于英属处女群岛注册成立之公司，由简先生全资实

益拥有

“Stock Exchange”The Stock Exchange of Hong Kong Limited

「联交所」指香港联合交易所有限公司

“TY Civil”Tsun Yip Civil Construction Company Limited (

进业土木工程有限公司

), a company

incorporated in Hong Kong with limited liability on 16 June 2000 and an indirect non-

wholy owned subsidiary of the Company

「进业土木」指进业土木工程有限公司，一家于二零年六月十六日在香港注册成立之有限

公司，为本公司之间接非全资附属公司

“TYW”Tsun Yip Waterworks Construction Company Limited (

进业水务建筑有限公司

), a

company incorporated in Hong Kong with limited liability on 6 February 1996 and an

indirect non-wholy owned subsidiary of the Company

「进业水务」指进业水务建筑有限公司，一家于一九六年二月六日在香港注册成立之有限公

司，为本公司之间接非全资附属公司

“%”per cent

「

」指百分比

进业控股有限公司

2024/2025

年报

CHAIRMAN’S STATEMENT

主席报告书

To al Shareholders,

On behalf of the Board, I am pleased to present the anual results

of the Group for the year ended 31 March 2025.

RESULTS FOR THE YEAR

During the year ended 31 March 2025, we had recorded

aproximately HK$366.1 milion (2024: aproximately HK$469.0

milion) revenue, which represented a decrease of aproximately

21.9% over the revenue for the year ended 31 March 2024.

The gros profit of the Group for the year ended 31 March

2025 was amounted to aproximately HK$9.9 milion (2024:

aproximately HK$18.1 milion), which represented a decrease of

aproximately 45.0% from that of previous year.

The net los of the Group for the year ended 31 March 2025 was

aproximately HK$12.0 milion (2024: aproximately of HK$9.1

milion), representing an increase of aproximately 31.2% from that

of previous year.

FUTURE PROSPECTS

Loking ahead to 2025, the Group’s primary focus remains on

operating its core civil enginering and construction busines in

Hong Kong.

During the year, competition in the construction market was

intense amid a chalenging operational and broader economic

environment. The Group’s revenue is primarily derived from the

relatively low-risk public works sector. In the view that Hong Kong

Government’s fiscal deficit as outlined in the 2025-2026 Budget

and stringent budget control over expenditure is expected, it wil

hinder the funding alocations for proposed public construction

works and delay the introduction of new projects for tenders.

Aditionaly, recent declines in price fluctuation compensation for

public sector work is expected to negatively impact on the gros

profit margins of the Group’s projects.

致全体股东：

本人谨此代表董事会欣然提呈本集团截至二

零二五年三月三十一日止年度之年度业绩。

年度业绩

截至二零二五年三月三十一日止年度，我们

录得约

366,100,000

港元（二零二四年：约

469,000,000

港元）之收益，较截至二零二四年

三月三十一日止年度之收益减少约

21.9%

。

截至二零二五年三月三十一日止年度，本集

团之毛利约为

9,900,000

港元（二零二四年：约

18,100,000

港元），较上一年度减少约

45.0%

。

截至二零二五年三月三十一日止年度，本集团

之净亏损约为

12,000,000

港元（二零二四年：约

9,100,000

港元），较上一年度增加约

31.2%

。

未来前景

展望

年，本集团的主要焦点仍将集中于在

香港经营其核心土木工程及建筑业务。

年内，建筑市场竞争激烈，经营环境及整体经

济环境充满挑战。本集团的收入主要来自风险

相对较低的公共工程部门。然而，根据

2025-

年度财政预算案所述，香港政府的财政赤

字以及对政府支出的严格控制，预计将限制对

拟议公共建筑工程的资金分配，可能延迟新项

目招标的推出。此外，近期公共工程的价格波

动补偿下降，预计将对本集团项目的毛利率产

生负面影响。

TSUN YIP HOLDINGS LIMITED

ANUAL REPORT 2024/2025 16

CHAIRMAN’S STATEMENT

主席报告书

尽管面临上述挑战，本集团作为合营企业的

参与者，于年内获得了一份新合同，而部分现

有合同已进入维护期或即将完工。凭借现有

的合同，本集团预计可维持约两年的营业额。

然而，未来几年的经营环境预计将比以往更具

挑战性。建筑成本持续上升，继续侵蚀项目的

利润率，而提供低价投标的承包商日益增加，

进一步加剧了市场竞争。虽然香港的招标制度

根据技术能力、过往表现及投标价格的综合评

估来评选投标者，但投标价格仍是评估过程中

的重要因素，增加了项目执行及招标的整体风

险。

为应对高度竞争的建筑行业，本集团保持警

惕，加强对承包商运营的成本控制及风险管

理。本集团将主动监控项目进度，实施有效的

成本控制措施，并与包括客户、供应商及分包

商在内的利益相关者保持密切沟通。此外，本

集团将积极争取业务机会，参与招标及报价邀

请，以保持市场竞争力。与此同时，本集团将

通过与合作伙伴协作，竞投涵盖各类土木工程

项目的合同，寻求多元化的机会。

凭借本集团经验丰富的管理团队及在建筑行

业的良好声誉，本集团坚定承诺提供高质量的

土木工程服务。本集团将继续监控市场状况，

评估经济复苏周期中的风险及不确定性，并采

取严格措施减轻潜在的不利影响，致力实现可

持续的业务增长，为本公司股东带来长期价

值。

Despite the aforementioned chalenges, the Group, as a participant

in a Joint Venture, was awarded a new contract during the

year, whereas some existing contracts have entered into the

maintenance period or are nearing completion. With the curent

contracts on hand, the Group anticipates sustaining its turnover

for aproximately two years. However, the operating environment

in the coming years is expected to be more chalenging. Rising

construction costs continue to erode the Group’s project profit

margins. Furthermore, the increasing presence of contractors

ofering low bid prices has intensified market competition, although

Hong Kong’s tendering system evaluates tenderers based on a

combination of technical competence, past performance and

price, but tender pricing remains a significant evaluation factor. The

uncertainties in the project execution and tendering increase the

overal risks of the Group.

In response to the highly competitive construction industry, the

Group remains vigilant and is strengthening the cost controls

and risk management over contractor operations. The Group wil

continue to proactively monitor the development of the projects’

progres, implement efective cost control measures, and maintain

close comunication with the Company’s stakeholders, including

customers, supliers and subcontractors. The Group wil also

actively pursue new busines oportunities, tenders and quotation

invitations to maintain market competitivenes. At the same time,

the Group wil sek diverse oportunities by colaborating with

partners to bid on contracts encompasing various types of work

categories of civil enginering projects.

With the Group’s experienced management team and reputation

in the construction industry, the Group remains steadfast in its

comitment to delivering high-quality civil enginering services.

The Group wil continue to monitor the market situation, ases

the risks and uncertainties during the economic recovery cycle and

strive to take stringent measures to mitigate any potential adverse

impact on the Group achieving sustainable busines growth and

delivering long-term benefits to our shareholders of the Company.

进业控股有限公司

2024/2025

年报

CHAIRMAN’S STATEMENT

主席报告书

致谢

最后，本人愿借此机会代表董事会由衷感谢全

体管理团队及员工在过去多年的付出及贡献，

并感谢所有股东、客户、供应商及业务伙伴一

直以来给予支持与信任。

简国祥

主席

二零二五年六月三十日

APRECIATION

Finaly, on behalf of the Board, I would like to take this oportunity to

expres my most sincere apreciation to al the management team

and staf for their dedication and contribution over the past years. I

would also like to thank al the Shareholders, customers, supliers

and busines partners for their continuous suport and trust.

Kan Kwok Cheung

Chairman

30 June 2025

TSUN YIP HOLDINGS LIMITED

ANUAL REPORT 2024/2025 18

MANAGEMENT DISCUSION AND ANALYSIS

管理层讨论及分析

业务回顾

本集团主要为香港公营部门提供土木工程服

务。截至二零二五年三月三十一日止年度，本

集团继续专注于为香港公营部门提供土木工

程服务。

于二零二五年三月三十一日获批及承接之主

要项目

截至二零二五年三月三十一日止年度，本集团

一直进行四项合约。于四项合约中，其中一项

与提供水务工程服务有关，其余合约则与提供

渠务服务及地盘平整服务有关。所承接合约之

详情载列如下：

BUSINES REVIEW

The Group is principaly engaged in the provision of civil enginering

services for the public sector in Hong Kong. During the year ended

31 March 2025, the Group continued to focus on rendering civil

enginering services to the public sector in Hong Kong.

Major projects awarded and undertaken as at 31 March 2025

During the year ended 31 March 2025, the Group has ben

undertaking four contracts. Among the four contracts, one of these

is related to provision of waterworks enginering services and the

remaining contracts are related to provision of drainage services

and site formation services. Details of the contracts undertaken are

set out below:

Contract numberParticulars of contractClient

Contract period under

main contracts or

expected

completion date

合约编号合约详情客户

根据主合约的合约期或

预期竣工日期

Subcontracts

分包合约

ND/2018/02The Establishment of an Agricultural Pak

in Kwu Tung South (Phase 1)

Harvest – Tsun Yip

Joint Venture

Oct 2020 – Sept 2025Total contract value

HK$1982.0 milion

总合约价值

1,982,000,000

港元

Total amount of works

certified (Note)

HK$887.8 milion

已核证工程总额（附注）

887,800,000

港元

在古洞南设立农业园（第一期）轩诚－进业联营二零二零年十月至

二零二五年九月

进业控股有限公司

2024/2025

年报

MANAGEMENT DISCUSION AND ANALYSIS

管理层讨论及分析

Contract numberParticulars of contractClient

Contract period under

main contracts or

expected

completion date

合约编号合约详情客户

根据主合约的合约期或

预期竣工日期

Joint Operations

合营业务

ND/2018/02The Establishment of an Agricultural Pak

in Kwu Tung South (Phase 1)

Civil Enginering

and Development

Department of the

Government

Oct 2020 – Sept 2025

在古洞南设立农业园（第一期）政府土木工程拓展署二零二零年十月至

二零二五年九月

4/WSD/19Development of Anderson Road Quary

site – construction of grey water

treatment plant

Water Suplies

Department of the

Government

Sep 2020 – Sep 2025

安达臣道石矿场用地发展－中水处理厂

建造工程

政府水务署二零二零年九月至

二零二五年九月

CV/2022/08Site Formation and Infrastructure Works

at Area 48, Fanling

Civil Enginering

and Development

Department of the

Government

Jan 2023 – Jan 2027

粉岭第

区工地平整及基础设施工程政府土木工程拓展署二零二三年一月至

二零二七年一月

ND/2024/06Fanling North New Development Area,

Remaining Phase: Fresh Water and

Flushing Water Service Reservoirs and

Asociated Works

Civil Enginering

and Development

Department of the

Government

July 2024 – Aug 2027

粉岭北新发展区余下阶段－食水及冲厕

水配水库及相关工程

政府土木工程拓展署二零二四年七月至二零

二七年八月

Note: Amount of works certified is based on the certificates of payment

received from client.

During the year ended 31 March 2025, a joint venture contract

(contract numbered ND/2024/06) was newly awarded.

附注：

已核证工程金额乃根据从客户收到之付款

核证确定。

于截至二零二五年三月三十一日止年度，新获

授一项合营合约（合约编号为

ND/2024/06

）。

TSUN YIP HOLDINGS LIMITED

ANUAL REPORT 2024/2025 20

MANAGEMENT DISCUSION AND ANALYSIS

管理层讨论及分析

Major projects completed or terminated for the year ended

31 March 2025

Completed or terminated projects refer to projects substantialy

completed or terms of year of the contracts expired or early

terminated before the completion. Details of the major projects

completed or terminated by the Group during the year ended 31

March 2025 are as folows:

Contract numberParticulars of contractClient

Contract period under

main contracts

合约编号合约详情客户根据主合约的合约期

Subcontracts

分包合约

CV/2016/10Site Formation and Asociation

Infrastructural Works For Development

of Columbarium at Sandy Ridge

Cemetery

Hsin Chong Tsun Yip

Joint Venture

Dec 2017 – Jun 2021

Total amount of works

certified up to 31

March 2025 (Note)

HK$1,307.8 milion

截至二零二五年三月

三十一日已核证工程

总额（附注）

1,307,800,000

港元

沙岭坟场兴建骨灰安置所的土地平整

及相关基础设施工程

新昌进业联营二零一七年十二月至

二零二一年六月

PYC-

03084BAH-001

Site Formation, Foundation & Sub-

structure Works for the Student

Residence Development at The

Hong Kong University of Science and

Technology

Paul Y. Construction

Company Limited

Aug 2020 – Dec 2022

香港科技大学的学生宿舍发展计划的

土地平整、地基及下部结构工程

保华建筑有限公司二零二零年八月至

二零二年十二月

截至二零二五年三月三十一日止年度已竣工

或终止之主要项目

已竣工或终止项目指已大致竣工或合约年期

于竣工前已届满或提前终止的项目。截至二零

二五年三月三十一日止年度，本集团已竣工或

终止的主要项目详情如下：

进业控股有限公司

2024/2025

年报

MANAGEMENT DISCUSION AND ANALYSIS

管理层讨论及分析

Contract numberParticulars of contractClient

Contract period under

main contracts

合约编号合约详情客户根据主合约的合约期

Subcontracts

分包合约

1002EM19ADesign-Build-Operate for the Aditional

District Coling System (DCS) at the

Kai Tak Development (KTD)

Paul Y. Construction

Company Limited

Dec 2020 – Dec 2023

设计、兴建及营运位于启德发展区的新

增的区域供冷系统

保华建筑有限公司二零二零年十二月至

二零二三年十二月

EP/SP/10/91South East-New Teritories (SENT) Landfil

Extension

Paul Y. Construction

& Enginering Co.

Limited

July 2021 – July 2023

新界东南堆填区扩建保华建筑工程有限公

司

二零二一年七月至

二零二三年七月

Joint Operations

合营业务

CV/2016/10Site Formation and Asociation

Infrastructural Works For Development

of Columbarium at Sandy Ridge

Cemetery

Civil Enginering

and Development

Department of the

Government

Dec 2017 – Jun 2021

沙岭坟场兴建骨灰安置所的土地平整

及相关基础设施工程

政府土木工程拓展署二零一七年十二月至

二零二一年六月

CV/2019/04Site Formation and Infrastructure Works

near Tsz Tin Road and Hing Fu Stret

in Area 54, Tuen Mun

Civil Enginering

and Development

Department of the

Government

Dec 2020 – Jun 2024

屯门第

区邻近紫田路及兴富街的工

地平整及基础建设工程

政府土木工程拓展署二零二零年十二月至

二零二四年六月

Note: Amount of works certified is based on the certificates of payment

received from client.

During the year ended 31 March 2025, contracts with contract

numbered CV/2022/08 and 4/WSD/19 were the main contributors

to the Group’s revenue, which generated aproximately

HK$162.0 milion and aproximately HK$75.2 milion, constituting

aproximately 44.3% and 20.5% of the Group’s total revenue

respectively.

附注：

已核证工程金额乃根据从客户收到之付款核证

确定。

截至二零二五年三月三十一日止年度，合约编

号为

CV/2022/08

及

4/WSD/19

的合约为本集团

收益的主要来源，分别产生约

162,000,000

港元

及约

75,200,000

港元，分别占本集团总收益约

44.3%

及

20.5%

。

2025
二零二 HK$’000	五年 % of total
二零二 HK$’000	占总额 (%)
千港元	百分比
–	–
207,830	56.8
158,241	43.2
366,071	100.0

TSUN YIP HOLDINGS LIMITED

ANUAL REPORT 2024/2025 22

MANAGEMENT DISCUSION AND ANALYSIS

管理层讨论及分析

FINANCIAL REVIEW

Revenue

For the year ended 31 March 2025, the Group reported a revenue

of aproximately HK$366.1 milion (2024: aproximately HK$469.0

milion), representing a decrease of aproximately 21.9% as

compared with that for the previous year. The overal decrease in

revenue was mainly due to (i) decrease in works for certain civil

enginering projects at or nearly reaching completion stage and

(i) early termination of subcontract due to default payment of a

customer which is undergoing a winding-up procedure.

During the year ended 31 March 2025, the revenue of the Group

was primarily generated from the undertaking of civil enginering

contracts in the capacity of a subcontractor and joint ventures. The

breakdown of total revenue by nature of capacity of the Group is set

forth below:

For the year ended 31 March

截至三月三十一日止年度

二零二四年

HK$’000% of total

千港元

占总额

百分比

(%)

Main contractor

主承建商

–

Subcontractor

分包商

278,77159.4

Jointly controled operations

共同控制经营

190,19240.6

Total

总额

468,963100.0

财务回顾

收益

截至二零二五年三月三十一日止年度，本集团

录得收益约

366,100,000

港元（二零二四年：约

469,000,000

港元），较去年减少约

21.9%

。收益

整体减少主要由于

(i)

若干处于或接近完成阶段

的土木工程项目的工程量减少；及

(i)

因一名正

在进行清盘程序的客户拖欠付款而提前终止

分包所致。

截至二零二五年三月三十一日止年度，本集团

收益主要来自以分包商及合营方身份承接之

土木工程合约。按本集团身份性质分类之总收

益详情载列如下：

2025
二零 HK$’000	二五年 % of total
二零 HK$’000	占总额 (%)
千港元	百分比
27,679	7.8
107,237	30.1
155,011	43.5
66,211	18.6
356,138	100.0

进业控股有限公司

2024/2025

年报

MANAGEMENT DISCUSION AND ANALYSIS

管理层讨论及分析

Cost of services

The Group’s cost of services decreased by aproximately 21.0%

to aproximately HK$356.1 milion (2024: aproximately HK$450.9

milion) for the year ended 31 March 2025 as compared with that

for the previous year. The Group’s cost of services mainly includes

costs of construction services. Costs of construction services

mainly comprise raw materials, direct labour and subcontracting

fe for services provided by the subcontractors. The decrease in

cost of services was mainly due to overal decrease in construction

costs for certain civil enginering projects at or nearly reaching

completion stage during the year ended 31 March 2025. The

folowing table sets out a breakdown of the Group’s cost of

services:

For the year ended 31 March

截至三月三十一日止年度

二零二四年

HK$’000% of total

千港元

占总额

百分比

(%)

Costs of construction services

建筑服务成本

Raw materials

原材料

26,8696.0

Direct labour

直接劳工

101,25622.5

Subcontracting fe

分包费用

251,30955.7

Other direct costs

其他直接成本

71,46615.8

Total

总额

450,900100.0

服务成本

本集团于截至二零二五年三月三十一日止

年度之服务成本较去年减少约

21.0%

至约

356,100,000

港元（二零二四年：约

450,900,000

港元）。本集团的服务成本主要包括建筑服务

成本。建筑服务成本主要包括原材料、直接劳

工及分包商提供服务的分包费用。服务成本减

少的主要原因为截至二零二五年三月三十一

日止年度若干处于或接近完成阶段的土木工

程项目的建筑成本整体减少。下表载列本集团

服务成本之详情：

TSUN YIP HOLDINGS LIMITED

ANUAL REPORT 2024/2025 24

MANAGEMENT DISCUSION AND ANALYSIS

管理层讨论及分析

Gros profit

The gros profit for the Group for the year decreased by

aproximately 45.0% to aproximately HK$9.9 milion (2024:

aproximately HK$18.1 milion) for the year ended 31 March

2025 as compared with that for the previous year. The gros profit

margin of the Group amounted to aproximately 2.7% (2024:

aproximately 3.9%) for the year. The decrease in gros profit was

mainly due to (i) the extra construction costs employed from certain

civil enginering projects reaching nearly completion stage at lower

gros profit margin and (i) unexpected complexity and increased

costs of variation works arising from certain civil enginering

projects of the Group for the year ended 31 March 2025.

Other income

The Group’s other income for the year ended 31 March 2025

increased by aproximately 44.4% to aproximately HK$4.3

milion (2024: aproximately HK$3.0 milion) as compared with

that for the previous year. The other income mainly consisted of

sale proceds of scraped materials in respect of early terminated

civil enginering projects and receipt of government subsidy from

Construction Industry Council during the year ended 31 March

2025.

Other gains/(loses), net

The Group’s other gains, net for the year ended 31 March 2025

was amounted to aproximately HK$5.0 milion (2024: other

loses, net of aproximately HK$1.1 milion). Other gains, net

mainly consisted of combining efect of (i) one-of recognition of

gain on modification of promisory note of aproximately HK$17.3

milion due to the extension of maturity date of promisory note

during the year ended 31 March 2025 and (i) provision of expected

credit los of trade and other receivables and contract asets,

net of totaling aproximately HK$13.2 milion due to increased

uncertainty on setlement of a customer.

毛利

本集团于截至二零二五年三月三十一日止年

度之毛利较去年减少约

45.0%

至约

9,900,000

港

元（二零二四年：约

18,100,000

港元）。本集团

于本年度之毛利率约为

2.7%

（二零二四年：约

3.9%)

。毛利减少主要由于截至二零二五年三

月三十一日止年度

(i)

来自接近完工阶段且毛利

率较低之若干土木工程项目的额外建筑成本；

及

(i)

本集团若干土木工程项目产生的变更工程

意外复杂且成本增加所致。

其他收入

本集团于截至二零二五年三月三十一日止

年度之其他收入较去年增加约

44.4%

至约

4,300,000

港元（二零二四年：约

3,000,000

港

元）。其他收入主要包括截至二零二五年三月

三十一日止年度提前终止土木工程项目涉及

的废料销售所得款项及收到来自建造业议会

的政府补助。

其他收益╱（亏损），净额

本集团于截至二零二五年三月三十一日止年

度之其他收益净额为约

5,000,000

港元（二零

二四年：其他亏损净额约

1,100,000

港元）。其

他收益净额主要包括

(i)

因于截至二零二五年三

月三十一日止年度承兑票据到期日延长而一

次性确认承兑票据修订收益约

17,300,000

港元

及

(i)

因一名客户付款不确定性增加导致就贸

易及其他应收款项及合约资产计提预期信贷

亏损拨备净额合共约

13,200,000

港元的综合影

响。

进业控股有限公司

2024/2025

年报

MANAGEMENT DISCUSION AND ANALYSIS

管理层讨论及分析

行政及营运开支

本集团于截至二零二五年三月三十一日止年

度之行政及营运开支较去年增加约

45.7%

至约

25,700,000

港元（二零二四年：约

17,600,000

港元）。行政开支主要包括核数师薪酬、法律和

专业费用、员工成本（包括董事薪酬）及折旧开

支。行政开支增加主要由于截至二零二五年三

月三十一日止年度因取消强制性公积金－长期

服务金对冲机制而产生的额外长期服务金拨

备以及就延长及发行可换股票据、股份合并及

更改本公司名称等特别交易所支付的法律及

专业费用所致。

融资成本

本集团于截至二零二五年三月三十一日止

年度之融资成本较去年减少约

54.8%

至约

5,400,000

港元（二零二四年：约

12,000,000

港

元）。融资成本主要包括承兑票据及可换股票

据之利息开支。于二零二四年四月延长及修订

未偿还本金额约为

257,000,000

港元的可换股

票据（「现有可换股票据」）的条款后，现有可换

股票据的本金及其应计利息将于到期时强制

转换为股份，故自延长及修订现有可换股票据

条款的生效日起，将不再累计进一步利息。

Administrative and operating expenses

The Group’s administrative and operating expenses for the

year ended 31 March 2025 increased by aproximately

45.7% to aproximately HK$25.7 milion (2024: aproximately

HK$17.6 milion) as compared with that for the previous year.

The administrative expenses mainly consisted of auditors’

remuneration, legal and profesional fes, staf costs (including

Directors’ remuneration) and depreciation expenses. The increase

in administrative expenses was mainly due to the aditional

provision of long service payment arising from abolition of the

Mandatory Provident Fund – Long Service Payment ofseting

mechanism and legal and profesional fe paid for the special

deals such extension and isuance of convertible notes, share

consolidation and change of Company name during the year

ended 31 March 2025.

Finance costs

The Group’s finance costs for the year ended 31 March 2025

decreased by aproximately 54.8% to aproximately HK$5.4

milion (2024: aproximately HK$12.0 milion) as compared with

that for the previous year. The finance costs mainly consist of

interest expenses for the promisory note and convertible notes.

Upon the extension and modification of terms of the convertible

notes in the outstanding principal amount of aproximately

HK$257.0 milion (the “Existing Convertible Notes”) in April 2024,

the principal amount and the interest acrued of the Existing

Convertible Notes therein would be mandatorily converted into

shares at its maturity and hence no further interest would be

acrued from the efective date of extension and modification of

terms of the Existing Convertible Notes.

TSUN YIP HOLDINGS LIMITED

ANUAL REPORT 2024/2025 26

MANAGEMENT DISCUSION AND ANALYSIS

管理层讨论及分析

合约资产及应收款项之减值评估

根据本集团应收款项之减值拨备政策，本集团

根据预期信贷亏损模型对贸易结余进行个别

或按组合方式进行减值评估。除对重大未偿付

结余或已出现信贷减值迹象之应收账款进行

个别评估外，其余具贸易性质之贸易应收款项

及合约资产已根据共同信贷风险特征及账龄

进行分组。

于截至二零二五年三月三十一日止年度，本

集团就合约资产确认预期信贷亏损拨备净额

约

13,700,000

港元（二零二四年：约

83,000

港

元），并就贸易及其他应收款项拨回预期信贷

亏损拨备净额约

500,000

港元（二零二四年：约

300,000

港元）。合约资产之预期信贷亏损拨备

中包括已就本集团一名目前正进行清盘程序

之客户所产生之信贷减值合约资产（「该等应

收款项」）作出之拨备约

14,600,000

港元（二零

二四年：零港元）。香港高等法院为上述客户委

任临时清盘人，导致其信贷风险大幅增加。据

本公司根据现时可得资料所深知，并经考虑

(i)

拖欠付款；

(i)

上述客户正于清盘程序中；及

(i)

已就该客户委任临时清盘人，本集团评估该等

应收款项之可收回性变得不确定及该等应收

款项已出现信贷减值。因此，于截至二零二五

年三月三十一日止年度，本集团就该等应收

款项确认预期信贷亏损拨备约

14,600,000

港元

（二零二四年：无）。本集团将向上述客户采取

适当行动以收回有关款项。本公司将于适当时

候向其股东提供任何重大发展之最新资料。

Impairment asesment of contract asets and receivables

Acording to the policy of impairment provision of receivables of

the Group, the Group performs impairment asesment under

expected credit los model on trade balances individualy or based

on colective asesment. Except for debtors with significant

outstanding balances or credit-impaired, which are asesed

for impairment individualy, the remaining trade receivables and

contract asets of trade nature have ben grouped based on

shared credit risk characteristics and aging.

During the year ended 31 March 2025, the Group recognised

provision of expected credit los alowance, net of aproximately

HK$13.7 milion (2024: aproximately HK$83,000) for contract

asets and reversed provision of expected credit los alowance,

net of aproximately HK$0.5 milion (2024: aproximately

HK$0.3 milion) for trade and other receivables. Included in the

provision of expected credit los alowance for contract asets,

alowance of aproximately HK$14.6 milion (2024: HK$Nil) was

made on credit-impaired contract asets (“Such Receivables”)

arising from one of the customers of the Group which is curently

undergoing winding up procedures. Provisional liquidators were

apointed for the aforesaid customer by the High Court of Hong

Kong, resulting in a significant increase in its credit risk. To the

best knowledge of the Company based on the information

curently available and after taking into consideration of (i) the

defaulted payments; (i) the aforesaid customer is in the proces

of liquidation and (i) the provisional liquidator has ben apointed

to this aforesaid customer, the Group asesed the recoverability

of Such Receivables became uncertain and Such Receivables

became credit-impaired. Acordingly, the Group recognized

provision of expected credit los alowance on Such Receivables

of aproximately HK$14.6 milion (2024: Nil) during the year ended

31 March 2025. The Group wil take apropriate actions against

the aforesaid customer to recover the amount. The Company wil

update its shareholders on any material development as and when

apropriate.

进业控股有限公司

2024/2025

年报

MANAGEMENT DISCUSION AND ANALYSIS

管理层讨论及分析

物业、厂房及设备以及使用权资产减值评估

截至二零二五年及二零二四年三月三十一日

止年度，本集团按基于公平值减出售成本与使

用价值的较高者估计物业、厂房及设备以及使

用权资产的可收回金额。相关资产的账面值并

无超过可收回金额，亦无确认减值。

净亏损

截至二零二五年三月三十一日止年度，本集团

净亏损较去年增加

31.2%

至约

12,000,000

港元

（二零二四年：约

9,100,000

港元）。净亏损增

加主要由于以下各项的综合影响所致：

(i)

毛利

减少；

(i)

就合约资产计提额外预期信贷亏损拨

备；及

(i)

行政及营运开支增加，被承兑票据的

一次性收益确认所抵销。

每股亏损

截至二零二五年三月三十一日止年度，本公司

拥有人应占每股基本亏损为约

20.1

港仙（二零

二四年：约

23.0

港仙）。

Impairment asesment of property, plant and equipment

and right-of-use asets

During the years ended 31 March 2025 and 2024, the Group

estimates the recoverable amount of the property, plant and

equipment and right of use asets based on higher of fair values

les costs of disposal and value in use. The carying amount of the

relevant asets does not exced the recoverable amount and no

impairment has ben recognised.

Net los

The net los of the Group for the year ended 31 March 2025

increased by 31.2% to aproximately HK$12.0 milion (2024:

aproximately HK$9.1 milion) as compared with that for the

previous year. The increase in net los was mainly due to the

combined efect of (i) decrease in gros profit, (i) provision of

aditional expected credit loses alowance on contract asets and

(i) increase in administrative and operating expenses outweighed

by the one-of recognition of gain on modification of promisory

note.

Los per Share

The basic los per Share atributable to the owners of the Company

for the year ended 31 March 2025 was aproximately HK20.1

cents (2024: aproximately HK23.0 cents).

TSUN YIP HOLDINGS LIMITED

ANUAL REPORT 2024/2025 28

MANAGEMENT DISCUSION AND ANALYSIS

管理层讨论及分析

前景

于二零二五年，香港建筑行业面临重大挑战，

主要受到香港政府财政储备减少、严格的支出

控制、经济复苏缓慢、私营建筑活动显著减少

及其他不利市场条件的影响。这些因素可能导

致新建筑项目的推出量减少并进一步加剧市

场竞争。于本年完成若干土木工程项目后，本

集团积极参与了多种合约投标流程。然而，香

港市场参与者增加，加剧了竞争环境。未来几

年，本地建筑公司将在争取新合约及维持竞争

性投标价格方面，面临更大压力。

尽管面临这些挑战，本集团已通过优化直接劳

动成本及控制分包费用，应对不断上升的营运

成本。预期充满挑战且竞争激烈的商业环境将

对本集团的运营及财务状况产生㇐定的负面

影响。本集团将继续积极监察市场状况，并采

取适当措施，减轻对本集团业务及表现的负

面影响。此外，本集团将实施更多的成本控制

措施，以缓解上述挑战的冲击。本集团正在积

极调整策略，以应对财务限制及监管变化。因

此，管理团队对未来前景保持乐观态度。

资本结构

股份于二零一零年八月三十日在联交所

GEM

上市。本集团股本仅包括普通股。

于二零二五年三月三十一日，本公司拥有人

应占权益总额亏绌约

40,900,000

港元（二零

二四年三月三十一日：亏绌约

405,100,000

港

元）。权益增加主要由于截至二零二五年三月

三十一日止年度配发股份、订立现有可换股票

据的第五份补充契据（「第五份补充契据」）及发

行若干可换股票据所致。

PROSPECTS

In 2025, the construction industry faces significant chalenges,

primarily driven by the Hong Kong Government’s diminishing

fiscal reserves, stringent expenditure controls, slugish economic

recovery, reduced in private construction activity and other

unfavorable market conditions. These factors may resulted to

a decline in number of new construction projects launched and

further intensify market competition. Folowing the completion of

specific civil enginering projects this year, the Group has actively

engaged in a variety contract biding proceses. However,

the growing number of participants in Hong Kong market has

intensified the competitive environment. In the years ahead, local

construction companies wil be face heightened presure on

securing new contracts and maintaining competitive tender pricing.

Despite these chalenges, the Group has ben dealing with

rising operational costs, such as optimizing direct labor costs

and controling subcontracting fes. The chalenging fiercely

competitive busines environment is expected to have a certain

negative impact on the Group’s operation and financial status.

The Group wil continue to actively monitor market conditions

and taking apropriate measures to mitigate any negative impact

on the busines and performance of the Group. In adition, the

Group wil implement aditional cost control measures to mitigate

the onslaught of the abovementioned chalenges. The Group is

proactively adjusting its strategies to adres financial constraints

and regulatory changes and therefore the management team

remains optimistic about the future.

CAPITAL STRUCTURE

The Shares were listed on GEM on 30 August 2010. The capital of

the Group comprises only ordinary shares.

Total equity atributable to the owners of the Company amounted

to aproximately HK$40.9 milion in deficit as at 31 March 2025

(31 March 2024: aproximately HK$405.1 milion in deficit). The

increase in equity was mainly resulted from alotment of shares,

entering of the fifth suplemental ded (the “Fifth Suplemental

Ded”) of the Existing Convertible Notes and isuance of certain

convertible notes for the year ended 31 March 2025.

进业控股有限公司

2024/2025

年报

MANAGEMENT DISCUSION AND ANALYSIS

管理层讨论及分析

(i)

于二零二四年四月十五日，合共

1,666,666,667

股认购股份（相当于本公司

经紧随股份认购事项完成后配发及发行

认购股份扩大后之已发行股本约

29.1%

）

已根据股份特别授权按认购价每股认购

股份

0.012

港元配发及发行予本公司执行

董事兼控股东简国祥先生。当时的认购

价

(i)

为股份于二零二年八月十二日（二

零二四年三月一日恢复买卖前的最后一

日）在联交所报之收市价每股

0.012

港

元；

(i)

为股份于按紧接二零二年八月

十二日（包括该日）前五个交易日在联交

所报之每日收市价计算之平均收市价

每股约

0.012

港元；及

(i)

较股份于按紧接

二零二年八月十二日（包括该日）前

个交易日在联交所报之每日收市价计

算之平均收市价每股约

0.014

港元折让约

14.3%

。股份认购事项所得款项总额及净

额分别为

20,000,000

港元及约

19,900,000

港元，其中

(i)10,355,700

港元已用作偿还

本集团之未偿还债务，其中包括

(a)

应付新

华音像中心（即新华社之全资附属公司及

中国新华新闻电视网有限公司（「中国新华

新闻电视网」，本公司当时之主要股东）之

同系附属公司）之款项

2,008,844

港元；及

(b)

应付中国新华新闻电视网（为本集团之

服务供应商）部分未偿还广播费

8,346,856

港元；及

(i)

余额约

9,500,000

港元已于截至

二零二五年三月三十一日止年度用作本

集团之一般营运资金。于二零二五年三月

三十一日，本集团已将所得款项净额全数

用于偿还上述本集团之未偿还债务及本

集团之一般营运资金。

(i) On 15 April 2024, an agregate of 1,666,666,667

subscription share, representing aproximately 29.1% of

the isued share capital of the Company as enlarged by the

alotment and isue of the subscription shares imediately

after the share subscription completion, were aloted and

isued at the subscription price of HK$0.012 per subscription

share to Mr. Kan Kwok Cheung, an executive director and

controling shareholder of the Company under the share

specific mandate. The then subscription price represents

(i) the closing price of HK$0.012 per Share as quoted on

the Stock Exchange on 12 August 2022 (last day before

resumption of trading on 1 March 2024); (i) the average

closing price of aproximately HK$0.012 per Share based

on the daily closing prices as quoted on the Stock Exchange

for the 5 trading days imediately prior to and including 12

August 2022; and (i) a discount of aproximately 14.3%

to the average closing price of aproximately HK$0.014

per Share based on the daily closing prices as quoted on

the Stock Exchange for the 30 trading days imediately

prior to and including 12 August 2022. The gros and net

proceds from share subscription are HK$20.0 milion

and aproximately HK$19.9 milion respectively, of which

(i) HK$10,355,700 has ben used for the repayment of its

outstanding indebtednes of the Group which includes (a) an

amount of HK$2,008,844 due to Xinhua News Agency Audio

News Desk (

新华音像中心

), being a wholy-owned subsidiary

of Xinhua News Agency (

新华社

) and a felow subsidiary of

China Xinhua News Network Co., Limited (“China Xinhua

NC”), the then substantial shareholder of the Company;

and (b) part of outstanding broadcasting fe in the amount

of HK$8,346,856 owed to China Xinhua NC as a service

provider to the Group; and (i) the remaining amount of

aproximately HK$9.5 milion has ben used for the general

working capital of the Group during the year ended 31 March

2025. As at 31 March 2025, the Group had fuly utilised the

net proceds for repayment of above-mentioned outstanding

indebtednes of the Group and general working capital of the

Group.

TSUN YIP HOLDINGS LIMITED

ANUAL REPORT 2024/2025 30

MANAGEMENT DISCUSION AND ANALYSIS

管理层讨论及分析

(i)

现有可换股票据之第五份补充契据已于

二零二四年四月十五日生效，其中现有可

换股票据之到期日已延长至二零二五年

十二月九日，而年利率已自二零二一年

十二月九日起由

追溯下调至

0.8%

。可

换股债券持有人中国新华新闻电视网于

到期日前不得转换或赎回现有可换股票

据，并须于到期日强制将所有现有可换股

票据及应计利息按转换价每股转换股份

19.6

港元转换为转换股份。于第五份补充

契据生效日期后，本公司已假设现有可换

股票据已转换为本公司普通股并重新分

类为本公司权益。

(i)

金额约为

64,127,855

港元的可换股票据

（「可换股票据

」）已于二零二四年四月

十五日发行予中国新华新闻电视网。现有

可换股票据的逾期利息已抵销可换股票

据

的认购价。可换股票据

的到期日为二

零二五年十二月九日，年利率为

0.8%

。可

换股票据

的持有人中国新华新闻电视网

于到期日前不得转换或赎回可换股票据

，并须于到期日强制将所有可换股票据

及应计利息按转换价每股转换股份

19.6

港

元转换为转换股份。于可换股票据

发行

日期后，本公司已假设可换股票据

已转

换为本公司普通股份并重分类为本公

司权益。

(i) The Fifth Suplemental Ded of the Existing Convertible Notes

has ben efective on 15 April 2024, in which the maturity

date of the Existing Convertible Notes has ben extended to 9

December 2025 and the interest rate has ben retrospectively

reduced from 3% to 0.8% per anum from 9 December

2021. China Xinhua NC, the holder of the convertible bonds

shal not convert or redem the Existing Convertible Notes

before the maturity date and shal mandatorily convert al

of the Existing Convertible Notes and acrued interest into

the conversion shares at the conversion price of HK$19.6

per conversion share at the maturity date. Upon the date

of efective of the Fifth Suplemental Ded, the Company

asumed the Existing Convertible Notes have ben converted

into ordinary shares of the Company and reclasified as the

equity of the Company.

(i) Convertible notes of aproximately HK$64,127,855 (the

“Convertible Notes A”) has ben isued to China Xinhua

NC on 15 April 2024. The overdue interest of the Existing

Convertible Notes has ben set-of against the subscription

price of the Convertible Notes A. The maturity date of the

Convertible Notes A is 9 December 2025 and the interest

rate is 0.8% per anum. China Xinhua NC, the holder of

the Convertible Notes A shal not convert or redem the

Convertible Notes A before the maturity date and shal

mandatorily convert al of the Convertible Notes A and acrued

interest into the conversion shares at the conversion price of

HK$19.6 per conversion share at the maturity date. Upon the

date of isuance of the Convertible Notes A, the Company

asumed the Convertible Notes A have ben converted into

ordinary shares of the Company and reclasified as the equity

of the Company.

进业控股有限公司

2024/2025

年报

MANAGEMENT DISCUSION AND ANALYSIS

管理层讨论及分析

(iv)

金额约为

16,240,000

港元的可换股票据

（「可换股票据

」）已于二零二四年四月

十五日发行予中国新华新闻电视网。结欠

中国新华新闻电视网的部分尚未支付广

播费已抵销可换股票据

的认购价。可换

股票据

的到期日为二零二五年十二月九

日，年利率为

0.8%

。可换股票据

的持有

人中国新华新闻电视网于到期日前不得

转换或赎回可换股票据

，并须于到期日

强制将所有可换股票据

及应计利息按转

换价每股转换股份

19.6

港元转换为转换股

份。于可换股票据

发行日期后，本公司已

假设可换股票据

已转换为本公司普通股

股份并重新分类为本公司权益。

(v)

一百

(100)

股合并为一

(1)

股之股份合并已于

二零二四年六月十七日之本公司股东特

别大会上获股东批准，并已于二零二四年

六月十九日生效。

流动资金及财务资源

截至二零二五年三月三十一日止年度，本集团

一般透过内部产生之现金流量、配售股份所得

款项净额以及延长及发行若干可换股票据及

承兑票据为其经营提供资金。

于二零二五年三月三十一日，本集团之流动负

债净额为约

17,200,000

港元（二零二四年三月

三十一日：约

418,400,000

港元），包括现金结

余约

56,100,000

港元（二零二四年三月三十一

日：约

48,200,000

港元）。于二零二五年三月

三十一日，流动比率（即流动资产与流动负债

之比率）为约

0.90

（二零二四年三月三十一日：

约

0.33

）。流动比率上升乃主要由于

(i)

订立第五

份补充契据及发行可换股票据

及可换股票据

，据此，现有可换股票据、可换股票据

及可

换股票据

将于其到期日强制转换为本公司股

份，故分类为本公司权益；及

(i)

修订及延长承

兑票据，故承兑票据分类为非流动负债。

(iv) Convertible notes of aproximately HK$16,240,000 (the

“Convertible Notes B”) has ben isued to China Xinhua

NC on 15 April 2024. Part of the outstanding broadcasting

fe owed to China Xinhua NC has ben set-of against the

subscription price of the Convertible Notes B. The maturity

date of the Convertible Notes B is 9 December 2025 and

the interest rate is 0.8% per anum. China Xinhua NC, the

holder of the Convertible Notes B shal not convert or redem

the Convertible Notes B before the maturity date and shal

mandatorily convert al of the Convertible Notes B and acrued

interest into the conversion shares at the conversion price

of HK$19.6 per conversion share at the maturity date. Upon

the date of isuance of Convertible Notes B, the Company

asumed the Convertible Notes B have ben converted into

ordinary shares of the Company and reclasified as the equity

of the Company.

(v) The one hundred (100) to one (1) share consolidation has

ben aproved by the shareholders at extraordinary general

meting of the Company on 17 June 2024 and became

efective on 19 June 2024.

LIQUIDITY AND FINANCIAL RESOURCES

During the year ended 31 March 2025, the Group generaly

financed its operations through internaly generated cash flows, net

proceds from alotment of shares and extension and isuance of

certain convertible notes and promisory note.

As at 31 March 2025, the Group had net curent liabilities of

aproximately HK$17.2 milion (31 March 2024: aproximately

HK$418.4 milion), including cash balance of aproximately

HK$56.1 milion (31 March 2024: aproximately HK$48.2 milion).

The curent ratio, being the ratio of curent asets to curent

liabilities, was aproximately 0.90 as at 31 March 2025 (31 March

2024: aproximately 0.33). The increase of curent ratio was mainly

due to (i) the entering of the Fifth Suplemental Ded and isuance

of the Convertible Notes A and the Convertible Notes B pursuant

to which the Existing Convertible Notes, the Convertible Notes A

and the Convertible Notes B would be mandatorily converted into

shares of the Company at its maturity date and therefore clasified

as equity of the Company; and (i) the modification and extension

of the promisory note and therefore the promisory note was

clasified as non-curent liabilities.

TSUN YIP HOLDINGS LIMITED

ANUAL REPORT 2024/2025 32

MANAGEMENT DISCUSION AND ANALYSIS

管理层讨论及分析

资产负债比率

资产负债比率乃以承兑票据、可换股票据、租

赁负债及合约负债之总额除以总资产计算，

于二零二五年三月三十一日为约

60.5%

（二零

二四年三月三十一日：约

176.7%

）。于订立第

五份补充契据以及发行可换股票据

及可换股

票据

后，现有可换股票据、可换股票据

及可

换股票据

已重新分类为本公司权益。因此，资

产负债比率下降乃主要由于债务总额减少。

外汇风险

各集团实体收取之大部分收益及所产生之大

部分开支以其各自之功能货币计值。董事认

为，本集团面临之外汇风险甚微，乃由于本集

团之大部分交易以各单独集团实体之功能货

币计值。截至二零二五年三月三十一日止年

度，本集团主要面临人民币外汇风险，而管理

层主要根据本集团主要往来银行之建议监管

外汇风险。

资本承担

于二零二五年三月三十一日，本集团就收购物

业、厂房及设备之已订约但未于财务报表计提

拨备之总资本承担约为

2,600,000

港元（二零

二四年三月三十一日：零港元）。

本集团资产质押

于二零二五年三月三十一日，本集团并无根据

融资租赁持有任何资产。于二零二四年三月

三十一日，本集团根据融资租赁持有账面净值

约

3,600,000

港元之机器。

GEARING RATIO

The gearing ratio, which is based on the total amount of promisory

note, convertible notes, lease liabilities and contract liabilities

divided by total asets, was aproximately 60.5% as at 31 March

2025 (31 March 2024: aproximately 176.7%). Upon entering into

of the Fifth Suplemental Ded and isuance of the Convertible

Notes A and the Convertible Notes B, the Existing Convertible

Notes, the Convertible Notes A and the Convertible Notes B were

reclasified as equity of the Company. Therefore, the decrease of

gearing ratio was mainly due to decrease in total debts.

FOREIGN EXCHANGE EXPOSURE

The group entities colect most of the revenue and incur most of the

expenditures in their respective functional curencies. The Directors

consider that the Group’s exposure to foreign curency exchange

risk is insignificant as the majority of the Group’s transactions are

denominated in the functional curency of each individual group

entity. During the year ended 31 March 2025 the Group was mainly

exposed to foreign curency exchange risk of Renminbi and the

management mainly monitored the foreign curency exchange risk

with advice from the Group’s major banks.

CAPITAL COMITMENT

As at 31 March 2025, the Group had a total capital comitment of

aproximately HK$2.6 milion (31 March 2024: HK$Nil), contracted

for but not provided for in the financial statements in respect of

acquisition of property, plant and equipment.

CHARGES ON THE GROUP’S ASETS

As at 31 March 2025, the Group did not have any asets held

under finance lease. As at 31 March 2024, the Group’s machinery

with net bok values amounted to aproximately HK$3.6 milion

were held under finance lease.

进业控股有限公司

2024/2025

年报

MANAGEMENT DISCUSION AND ANALYSIS

管理层讨论及分析

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，本集团在香港有

名全职员工，其中逾

90%

为直接劳工。截至

二零二五年三月三十一日止年度之总员工成本

（包括董事薪酬）为约

116,400,000

港元（二零

二四年：约

105,200,000

港元），较去年增加约

10.7%

。增加主要由于本年度根据市况业务增

加薪资所致。

所持重大投资

除于附属公司之投资外，截至二零二五年三月

三十一日止年度及于报告期末，本集团并无于

任何公司之股权中持有任何重大投资。

重大投资及资本资产之未来计划

于二零二五年三月三十一日，本集团并无重大

投资及资本资产之其他计划。

库务政策

本集团将继续采取审慎政策管理本集团的现

金结余，并维持强劲稳健的流动资金，以确保

本集团能够充分把握未来增长机遇。

CONTINGENT LIABILITIES

As at 31 March 2025, the Group did not have any material

contingent liabilities (31 March 2024: Nil).

INFORMATION ON EMPLOYES

As at 31 March 2025, the Group had 232 ful-time staf in Hong

Kong and over 90% of them are direct labour. Total staf costs

(including Directors’ remuneration) for the year ended 31 March

2025 amounted to aproximately HK$116.4 milion (2024:

aproximately HK$105.2 milion), representing an increase of

aproximately 10.7% over that for the previous year. The increase

was mainly due to salary increment acording to market situation

busines for the year.

SIGNIFICANT INVESTMENT HELD

Except for investment in subsidiaries, during the year ended 31

March 2025 and as at the end of the reporting period, the Group

did not hold any significant investment in equity interest in any

company.

FUTURE PLANS FOR MATERIAL INVESTMENTS AND

CAPITAL ASETS

As at 31 March 2025, the Group did not have other plans for

material investments and capital asets.

TREASURY POLICY

The Group wil continue to folow a prudent policy in managing the

Group’s cash balances and maintain a strong and healthy liquidity

to ensure that the Group is wel placed to take advantage of future

growth oportunities.

TSUN YIP HOLDINGS LIMITED

ANUAL REPORT 2024/2025 34

MANAGEMENT DISCUSION AND ANALYSIS

管理层讨论及分析

更改公司名称

为使本公司建立新的企业形象及令本公司的

未来业务发展受惠，在本公司于二零二四年五

月三十一日举行的股东特别大会上，本公司股

东批准将本公司名称由「

CNC Holdings Limited

」

更改为「

Tsun Yip Holdings Limited

」及将本公司

中文双重外文名称由「中国新华电视控股有限

公司」更改为「进业控股有限公司」（「更改公司

名称」）。更改公司名称已于二零二四年六月七

日在开曼群岛公司注册处长发出公司更改

名称注册证书后生效。有关进一步详情，请参

阅本公司日期为二零二四年七月二十六日的

公布。

重大收购及出售附属公司及联属公司

截至二零二五年三月三十一日止年度，本集

团并无任何重大收购及出售附属公司及联属

公司。

CHANGE OF COMPANY NAME

In order to provide the Company with a new corporate image

and benefit the Company’s future busines development, the

shareholders of the Company aproved to change the name of

the Company from “CNC Holdings Limited” to “Tsun Yip Holdings

Limited” and the change of the dual foreign name in Chinese of

the Company from “

中国新华电视控股有限公司

” to “

进业控股

有限公司

” (the “Change of Company Name”) on the extraordinary

general meting of the Company held on 31 May 2024. The

Change of Company Name has become efective folowing the

isue of the certificate of incorporation on change of name by the

Registrar of Companies in Cayman Islands on 7 June 2024. For

further details, please refer to the anouncements of the Company

dated 26 July 2024.

MATERIAL ACQUISITIONS AND DISPOSALS OF

SUBSIDIARIES AND AFILIATED COMPANIES

During the year ended 31 March 2025, the Group did not have any

material acquisitions and disposals of subsidiaries and afiliated

companies.

进业控股有限公司

2024/2025

年报

BIOGRAPHICAL DETAILS OF DIRECTORS

董事履历详情

DIRECTORS

Executive Directors

Mr. Kan Kwok Cheung

（简国祥）

, aged 60, is the founder of

the Group. Mr. Kan formed TYW and TY Civil in 1996 and 2000

respectively and has ben the director of both companies since

their formation. Mr. Kan has over 31 years of experience in handling

civil enginering projects of various types. In the last thre years, he

held no directorships in any listed public companies. Mr. Kan has

entered into a service contract with the Company for an initial term

of thre years comencing from 11 August 2010, and wil continue

thereafter until terminated by not les than thre months’ notice in

writing served by either party on the other or thre months’ salary

being payment in lieu of notice. In adition, Mr. Kan has entered

into an employment contract with TYW to act as the director of

TYW for a continuous term comencing from 6 February 1996

until terminated by not les than thirty days’ notice in writing served

by either party on the other or thirty days’ salary being payment in

lieu of notice. He curently is a director of various companies of the

Group.

Mr. Hui Ka Tsun

（许嘉骏）

, aged 51, has over 25 years of

experience in project management and administration of various

construction projects in the civil enginering industry. He has joined

and served as the project manager of TYW and TY Civil since 2010

and is primarily responsible for the management and operation of

the Group’s civil enginering projects, as wel as overseing the

construction progres of various projects undertaken by the Group.

Mr. Hui was further apointed as a director of TYW and TY Civil in

2020 and is responsible for the management and supervision of

the Group’s enginering projects and participating in the Group’s

administrative management work. He curently is a director of

various companies of the Group. He obtained a diploma in civil

enginering in 1999. In the last thre years, he held no directorships

in any listed public companies. Mr. Hui has entered into a service

contract with the Company for an initial term of thre years,

expiring at the end of the initial term or at any time thereafter, unles

terminated by not les than thre months’ notice in writing served

by either party or by the payment of the equivalent of thre months

salary in lieu of such notice by either party.

董事

执行董事

简国祥先生，

岁，为本集团之创办人。简先

生分别于一九六年及二零年成立进业

水务及进业土木，并自其成立起成为该两家公

司之董事。简先生拥有逾

年处理各类土木

工程项目之经验。在过去三年内，彼并无于任

何上市公众公司担任何董事职务。简先生已

与本公司订立服务合约，自二零一零年八月

十一日起初步为期三年，并将持续有效，直至

任何一方向另一方发出不少于三个月之书面

通知或支付三个月薪金作代通知金予以终止。

此外，简先生已经与进业水务订立一份雇佣合

约，担任进业水务董事，连续任期由一九六

年二月六日起直至任何一方向另一方发出不

少于三十日之书面通知或支付三十日薪金作

代通知金予以终止。彼现时为本集团旗下多家

公司之董事。

许嘉骏先生，

岁，拥有逾

年土木工程业多

个工程项目的项目管理及行政经验。自二零一

零年起，彼加入进业水务及进业土木，担任项

目经理，主要负责本集团的土木工程项目的

管理及运营以及监督本集团多个项目的施工

进度。于二零二零年，许先生进一步获委任为

进业水务及进业土木的董事，负责本集团工程

项目的管理及监督并参与本集团行政管理工

作。彼现时为本集团旗下多家公司之董事。彼

于一九年获得土木工程文凭。在过去三年

内，彼并无于任何上市公众公司担任何董事

职务。许先生已与本公司订立服务合约，初步

期限为三年，直至初步任期结束时或其后任何

时间届满，除非任何一方发出不少于三个月之

书面通知或任何一方支付相当于三个月薪金

作代通知金予以终止。

TSUN YIP HOLDINGS LIMITED

ANUAL REPORT 2024/2025 36

BIOGRAPHICAL DETAILS OF DIRECTORS

董事履历详情

简臻廷先生，

岁，于二零一八年取得香港科

技大学土木工程学士学位。简先生为本公司执

行董事兼控股东简国祥先生以及本公司非

执行董事林舜娇女士之儿子。简臻廷先生于二

零一八年加入进业水务担任财务总监，负责企

业控制、承包工程、项目管理，并监督各种建

设项目。简臻廷先生于二零二三年获委任为进

业水务及进业土木的董事，负责就本集团土木

工程业务的整体管理及行政事宜向执行董事

提供建议。彼现时为本集团旗下多家公司之董

事。在过去三年内，彼并无于任何上市公众公

司担任何董事职务。简臻廷先生已与本公司

订立服务合约，初步期限为三年，直至初步任

期结束时或其后任何时间届满，除非任何一方

发出不少于三个月之书面通知或任何一方支

付相当于三个月薪金作代通知金予以终止。

非执行董事

林舜娇女士，

岁，拥有逾

年土木工程业多

个工程项目的项目管理及行政经验。林女士为

简国祥先生的配偶以及简臻廷先生之母亲。

自二零年起，彼加入进业土木，担任总经

理，主要负责本集团的土木工程项目的管理及

运营。于二零一二年，林女士进一步获委任为

进业水务及进业土木的董事，负责本集团工程

项目的管理及监督并参与本集团行政管理工

作。在过去三年内，彼并无于任何上市公众公

司担任何董事职务。

Mr. Kan Chun Ting Max

（简臻廷）

, aged 29, obtained a

Bachelor of Enginering in Civil Enginering from the Hong Kong

University of Science and Technology in 2018. Mr. Max Kan is

the son of Mr. Kan Kwok Cheung, being an executive Director

and the controling shareholder of the Company and Ms. Lam

Shun Kiu Rosita, being non-executive Director of the Company.

Mr. Max Kan joined TYW as a financial controler in 2018, and

is responsible for corporate control, contracting works, project

management, and overseing various construction projects. Mr.

Max Kan was apointed as a director of TYW and TY Civil in 2023

and is responsible for providing recomendations to the executive

directors in relation to the overal management and administration

of the Group’s civil enginering busines. He curently is a director

of various companies of the Group. In the last thre years, he held

no directorships in any listed public companies. Mr. Max Kan has

entered into a service contract with the Company for an initial term

of thre years, expiring at the end of the initial term or at any time

thereafter, unles terminated by not les than thre months’ notice

in writing served by either party or by the payment of the equivalent

of thre months salary in lieu of such notice by either party.

Non-Executive Director

Ms. Lam Shun Kiu Rosita

（林舜娇女士）

, aged 60, has over 24

years of experience in project management and administration of

various construction projects in the civil enginering industry. Ms.

Lam is the spouse of Mr. Kan Kwok Cheung and the mother of

Mr. Kan Chun Ting Max. She has joined and served as the general

manager of TY Civil since 2000 and is primarily responsible for

the management and operation of the Group’s civil enginering

projects. Ms. Lam was further apointed as a director of TYW

and TY Civil in 2012 and is responsible for the management and

supervision of the Group’s enginering projects and participating

in the Group’s administrative management work. In the last thre

years, she held no directorships in any listed public companies.

进业控股有限公司

2024/2025

年报

BIOGRAPHICAL DETAILS OF DIRECTORS

董事履历详情

独立非执行董事

钱志浩先生，

岁，在审计、财务管理、企业管

治及资本市场营运领域拥有逾

年经验。钱志

浩先生已取得香港大学工商管理学硕士学位。

彼于二零九年获认可为执业会计师，并于罗

兵咸永道会计师事务所及毕马威会计师事务

所担任审计专员达七年。彼亦于二零九年及

二零一零年分别获得金融风险管理师及特许

金融分析师资格。钱志浩先生拥有丰富经验，

担任多间香港上市公司之高级管理人员。钱志

浩先生目前为冠均国际控股有限公司及北大

资源（控股）有限公司（两间公司之股份均于联

交所主板上市及股份代号分别为：

及

）

各自之独立非执行董事。除上述者外，在过去

三年内，钱志浩先生并无于任何上市公众公司

担任何董事职务。于过去两年内，彼尚未亲

自或透过其执业之公司向本公司提供专业服

务。

王忠业先生，

岁，于一九零年毕业于香港

理工学院，取得会计专业文凭，并于一九八

年取得中华人民共和国北京大学法学士学

位。王忠业先生亦于一九年获得香港中文

大学理学硕士学位。王忠业先生在审计、会计

及企业融资方面拥有丰富经验，并为香港会计

师公会员。王忠业先生曾于一家知名国际会

计师事务所工作六年，并于香港交易及结算所

有限公司工作逾

年，最后担任香港交易及结

算所有限公司上市科高级经理。王忠业先生其

后于多间获证券及期货事务监察委员会发牌

的金融服务机构担任负责人，提供企业融资顾

问服务逾十年。王忠业先生于二零一三年十二

月至二零二年十月期间担任独立非执行董

事。除上述者外，在过去三年内，王忠业先生

Independent Non-Executive Directors

Mr. Chin Chi Ho Stanley

（钱志浩）

, aged 42, has over 16 years of

experience in the areas of audit, financial management, corporate

governance and operations in capital markets. Mr. Stanley Chin has

obtained a Master of Busines Administration from the University of

Hong Kong. He was admited as a Certified Public Acountant in

2009 and served as an audit specialist in PricewaterhouseCopers

and KPMG for 7 years. He has also ben awarded the qualification

of Financial Risk Manager in 2009 and Chartered Financial Analyst

in 2010. Mr. Stanley Chin has extensive experience serving as

senior management for diferent Hong Kong listed companies. Mr.

Stanley Chin is curently an independent non-executive director

of each of Champion Aliance International Holdings Limited and

Peking University Resources (Holdings) Company Limited, the

shares of which are listed on the Main Board of the Stock Exchange

(stock codes: 1629 and 618 respectively). Apart from the above,

Mr. Stanley Chin did not hold any directorships in any listed public

companies in the last thre years. He has not, by himself or through

his firm in which he practices, provided profesional services to the

Company in last two years.

Mr. Wong Chung Yip Keneth

（王忠业）

, aged 57, graduated

with profesional diploma in acountancy from Hong Kong

Polytechnic in 1990 and obtained a Bachelor of Laws from the

Peking University in the People’s Republic of China in 1998.

Mr. Keneth Wong also obtained a Master of Science from The

Chinese University of Hong Kong in 1999. Mr. Keneth Wong

has extensive experience in auditing, acounting and corporate

finance, and is a member of the Hong Kong Institute of Certified

Public Acountants. Mr. Keneth Wong previously worked at one

of the reputable international acounting firms for six years and

also worked in the Hong Kong Exchanges and Clearing Limited for

over 13 years with last position as senior manager of the Listing

Division of the Hong Kong Exchanges and Clearing Limited. Mr.

Keneth Wong then worked in diferent financial service institutions

licensed by the Securities and Futures Comision as responsible

oficer providing corporate finance advisory services for more than

10 years. Mr. Keneth Wong had served as the independent non-

executive Director from December 2013 to October 2022. Apart

TSUN YIP HOLDINGS LIMITED

ANUAL REPORT 2024/2025 38

BIOGRAPHICAL DETAILS OF DIRECTORS

董事履历详情

并无于任何上市公众公司担任何董事职务。

于过去两年内，彼尚未亲自或透过其执业之公

司向本公司提供专业服务。

黎雅明先生，

岁，于一九八二年七月获得威

尔士大学加的夫学院法律学荣誉学士学位及

随后于一九八六年七月获得香港大学的法学

专业证书。黎雅明先生自一九八年八月起为

香港执业律师及香港律师会员，现亦为一间

香港律师事务所的独资经营者。彼自一九五

年二月起亦为新加坡高等法院的代讼人及律

师。彼自一九五年十二月起一直为亚伦国际

集团有限公司（股份代号：

）的独立非执行

董事及自二零一七年一月起一直为御佳控股

有限公司（股份代号：

）的独立非执行董

事。除上述者外，在过去三年内，黎雅明先生

并无于任何上市公众公司担任何董事职务。

在过去两年内，彼尚未亲自或透过其执业之公

司向本公司提供专业服务。

from the above, Mr. Keneth Wong did not hold any directorships

in any listed public companies in the last thre years. He has not,

by himself or through his firm in which he practices, provided

profesional services to the Company in last two years.

Mr. Lai Ah Ming Leon

（黎雅明）

, aged 68, obtained a Bachelor of

Laws with Honours from the University of Wales, University Colege,

Cardif in July 1982 and subsequently completed a Postgraduate

Certificate in Laws at the University of Hong Kong in July 1986.

Mr. Leon Lai has ben a practising solicitor in Hong Kong and a

member of the Law Society of Hong Kong since August 1988

and is the sole proprietor of a law firm in Hong Kong. He has also

ben an advocate and solicitor of the Supreme Court of Singapore

since February 1995. He has ben an independent non-executive

director of Alan International Holdings Limited (stock code: 684)

since December 1995 and Royal Deluxe Holdings Limited (stock

code: 3789) since January 2017. Apart from the above, Mr. Leon

Lai did not hold any directorships in any listed public companies

in the last thre years. He has not, by himself or through his firm in

which he practices, provided profesional services to the Company

in last two years.

进业控股有限公司

2024/2025

年报

CORPORATE GOVERNANCE REPORT

企业管治报告

董事会谨此呈列截至二零二五年三月三十一

日止年度之企业管治报告。

企业管治常规

本公司一直致力维持高水平之企业管治，务求

保障股东利益及提高本集团之表现。

本公司已应用

GEM

上市规则附录

所载之企

业管治守则（「守则」）之原则及守则条文。

董事会认为，除守则第

C.1.8

段、第

C.1.6

段及第

C.2.7

段之规定外，本公司于截至二零二五年三

月三十一日止年度全年一直遵守则。本报告

进一步详细说明守则如何获应用，包括于截至

二零二五年三月三十一日止年度全年之任何

偏离情况之所考虑理由。

董事进行证券交易

本公司采纳一项董事进行证券交易之行为守

则，其条款与

GEM

上市规则第

5.48

条至第

5.67

条所载交易必守标准一致。

本公司定期向其董事发出通知，提醒彼等于财

务业绩公布刊发前之禁制期内买卖本公司上

市证券之一般禁制规定。

本公司经向董事作出特定查询后确认，全体董

事于截至二零二五年三月三十一日止年度全

年一直遵守交易必守标准。据本公司所知，截

至二零二五年三月三十一日止年度全年，并无

任何此方面的违规事宜。

The Board hereby presents this Corporate Governance Report for

the year ended 31 March 2025.

CORPORATE GOVERNANCE PRACTICES

The Company is comited to maintaining high standards

of corporate governance to safeguard the interests of the

Shareholders and enhance the performance of the Group.

The Company has aplied the principles and code provisions in the

Code on Corporate Governance Code (the “Code”) as set out in

Apendix C1 to the GEM Listing Rules.

In the opinion of the Board, the Company has complied with

the Code throughout the year ended 31 March 2025, except for

paragraphs C.1.8, C.1.6 and C.2.7 of the Code. This report further

ilustrates in detail as to how the Code was aplied, inclusive of the

considered reasons for any deviation throughout the year ended 31

March 2025.

DIRECTORS’ SECURITIES TRANSACTIONS

The Company has adopted a code of conduct regarding securities

transactions by Directors on terms which are the same as the

required standard of dealings set out in Rules 5.48 to 5.67 of the

GEM Listing Rules.

The Company periodicaly isues notices to its Directors reminding

them of the general prohibition on dealing in the Company’s listed

securities during the blackout periods before the publication of

anouncements of financial results.

The Company has confirmed, having made specific enquiry of the

Directors, that al the Directors have complied with the required

standards of dealings throughout the year ended 31 March 2025.

The Company was not aware of any non-compliance in this respect

throughout the year ended 31 March 2025.

TSUN YIP HOLDINGS LIMITED

ANUAL REPORT 2024/2025 40

CORPORATE GOVERNANCE REPORT

企业管治报告

董事会

董事会以负责任、重效益的态度领导及监管本

公司事务，令本公司取得成功。各董事均有责

任以本公司的最佳利益为前提真诚行事。

交由董事会处理的事宜包括但不限于：

•

批准本集团之长期目标及策略、政策及年

度预算；

•

监管本集团之业务营运及管理；

•

批准本集团的公司架构、管理层及监控架

构之重大变动；

•

批准中期及年度业绩；

•

批准会计政策或惯例之任何重大变动；

•

负责内部监控及风险管理制度；

•

批准与董事会成员及董事会薪酬有关之

事宜；

•

检讨本公司现有企业管治政策；

•

检讨本公司为董事及高级管理层安排培

训课程之知识及技能涵盖范围；

•

评估监察适时披露重要内幕消息及维护

消息保密性之内部保障程序之有效性；

BOARD OF DIRECTORS

The Board is acountable for promoting the suces of the

Company by directing and supervising its afairs in a responsible

and efective maner. Each Director has a duty to act in god faith

and in the best interests of the Company.

Maters reserved for the Board include, but not limited to:

’s long term objectives and strategy,

policies and anual budgets;

’s operations and management;

’s corporate structure,

management and control structure;

;

• aproval of any significant changes in acounting policies or

practices;

• responsible for the system of internal control and risk

management;

• aproval of maters in relation to Board membership and

Board remuneration;

• review of the existing policies of the Company on corporate

governance;

• review of the coverage of knowledge and skils of the training

sesions aranged for the Directors and senior management

by the Company;

• evaluated the efectivenes of internal safeguard procedure for

overseing timely disclosure of material inside information and

perseverance of its confidentiality;

进业控股有限公司

2024/2025

年报

CORPORATE GOVERNANCE REPORT

企业管治报告

•

检讨及监督遵守法律及监管规定之政策

及惯例；

•

监督董事及本集团有关雇员有否遵守行

为守则；及

•

检讨本公司有否遵守则及本报告之披

露事宜。

董事会之组成

董事会目前由七名董事组成，包括三名执行董

事、一名非执行董事及三名独立非执行董事。

董事履历详情载于本报告第

页至第

页「董

事履历详情」一节。董事会之组成载列如下：

执行董事

简国祥先生（主席）

（于二零二四年四月十六日调任为主席）

许嘉骏先生（行政总裁）

（于二零二四年四月十六日获委任）

简臻廷先生（于二零二四年四月十六日获委任）

姜岩博士（于二零二四年四月十六日辞任）

李永升博士（于二零二四年四月十六日辞任）

刘大勇先生（于二零二四年四月十六日辞任）

非执行董事

林舜娇女士（于二零二四年十一月二十九日获委任）

唐丽女士（于二零二四年四月十六日辞任）

罗焯雄先生（于二零二四年十一月二十九日辞任）

• review and monitor the policies and practices on compliance

with legal and regularity requirements;

• monitor the compliance of code of conduct by the Directors

and relevant employes of the Group; and

’s compliance with the Code and

disclosure in this report.

Composition of the Board

The Board curently comprises seven Directors, including

thre executive Directors, a non-executive Director and thre

independent non-executive Directors.

Biographical details of the Directors are set out in the “Biographical

Details of Directors” section on pages 35 to 38 of this report. The

composition of the Board is set out as folows:

Executive Directors

Mr. Kan Kwok Cheung (Chairman)

(Redesignated as Chairman on 16 April 2024)

Mr. Hui Ka Tsun (Chief Executive Oficer)

(Apointed on 16 April 2024)

Mr. Kan Chun Ting Max (Apointed on 16 April 2024)

Dr. Jiang Yan (Resigned on 16 April 2024)

Dr. Li Yong Sheng (Resigned on 16 April 2024)

Mr, Liu Da Yong (Resigned on 16 April 2024)

Non-Executive Directors

Ms. Lam Shun Kiu Rosita (Apointed on 29 November 2024)

Ms. Tang Li (Resigned on 16 April 2024)

Mr. Law Cheuk Hung (Resigned on 29 November 2024)

TSUN YIP HOLDINGS LIMITED

ANUAL REPORT 2024/2025 42

CORPORATE GOVERNANCE REPORT

企业管治报告

独立非执行董事

钱志浩先生

王忠业先生（于二零二四年四月十六日获委任）

黎雅明先生（于二零二四年四月十六日获委任）

吴国铭先生（于二零二四年四月十六日辞任）

尹志强先生，

铜紫荆星章，太平绅士

（于二零二四年

四月十六日辞任）

郭文韬先生（于二零二四年十一月二十九日辞任）

许嘉骏先生及简臻廷先生已获委任为执行董

事，而王忠业先生及黎雅明先生已获委任为独

立非执行董事，均自二零二四年四月十六日起

生效。林舜娇女士已获委任为非执行董事，自

二零二四年十一月二十九日起生效。许嘉骏先

生、简臻廷先生、王忠业先生、黎雅明先生及

林舜娇女士已分别于二零二四年二月二十二

日及二零二四年十一月二十九日取得

GEM

上

市规则第

5.02D

条所述的法律意见，并已确认

彼等各自明白其作为上市公司董事的责任。

本公司根据

GEM

上市规则不时刊发的所有公

司通讯中亦会披露董事名单（按类别划分）。根

据

GEM

上市规则，独立非执行董事已于所有公

司通讯中明确指出。每名董事有权查阅董事会

文件及相关资料，及可向公司秘书寻求意见及

服务。董事会及各董事亦可个别及独立地接触

本公司之高级管理层。

Independent Non-Executive Directors

Mr. Chin Chi Ho Stanley

Mr. Wong Chung Yip Keneth (Apointed on 16 April 2024)

Mr. Lai Ah Ming Leon (Apointed on 16 April 2024)

Mr. Wu Guo Ming (Resigned on 16 April 2024)

Mr. Wan Chi Keung Aaron, BS JP (Resigned on 16 April 2024)

Mr. Kwok Man To Paul (Resigned on 29 November 2024)

Mr. Hui Ka Tsun, Mr. Kan Chun Ting Max were apointed as

executive Directors and Mr. Wong Chun Yip Keneth and Mr. Lai

Ah Ming Leon were apointed as independent non-executive

Directors with efective from 16 April 2024 respectively. Ms. Lam

Shun Kiu Rosita was apointed as non-executive Director with

efective from 29 November 2024. Mr. Hui Ka Tsun, Mr. Kan Chun

Ting Max, Mr. Wong Chung Yip Keneth, Mr. Lai Ah Ming Leon and

Ms. Lam Shun Kiu Rosita obtained the legal advice refered to in

Rule 5.02D of the GEM Listing Rules on 22 February 2024 and 29

November 2024 respectively, and has confirmed that each of them

understod his/her obligations as a director of a listed company.

The list of Directors (by category) is also disclosed in al corporate

comunications isued by the Company pursuant to the GEM

Listing Rules from time to time. The independent non-executive

Directors are expresly identified in al corporate comunications

pursuant to the GEM Listing Rules. Every Director is entitled to have

aces to Board papers and related materials and has aces to

the advice and services of the Company Secretary. The Board and

each Director also have separate and independent aces to the

Company’s senior management.

进业控股有限公司

2024/2025

年报

CORPORATE GOVERNANCE REPORT

企业管治报告

主席及行政总裁

为明确董事会管理与本集团日常业务经营管

理的分工，本公司主席及行政总裁的职位及职

务由不同人士担任。

简国祥先生为董事会主席。主席负责为董事会

提供策略及业务指导并确保其在所有方面均

有效力。主席领导董事会并确保本公司制定稳

健之企业管治常规及程序。主席亦鼓励全体董

事全力积极投入董事会事务。

许嘉骏先生为本公司行政总裁。本公司行政总

裁负责本公司之日常管理及营运，全力实践董

事会所批准及授权之目标、政策及策略。

董事会及高级管理层之职责、问责及贡献

董事会为本公司的主要决策机构及其职责为

监督本公司所有主要事务，包括制定及批准所

有政策事务、整体策略、内部监控及风险管理

系统，以及监察高级行政人员的表现。董事须

以本公司之利益作出客观的决定。董事会直接

或间接透过其委员会领导管理层及向其作出

指示，制定策略并监督其实施，监察本集团的

营运及财务表现，并确保设有健全的内部监控

及风险管理制度。

Chairman and chief executive oficer

In order to have a clear division betwen the management of the

Board and the day-to-day management of the busines operations

of the Group, the role and duties of the chairman and the chief

executive oficer of the Company are caried out by diferent

individuals.

Mr. Kan Kwok Cheung is the chairman of the Board. The chairman

is responsible for strategic and busines directions to the Board

and ensures its efectivenes in al aspects. The Chairman provides

leadership for the Board and ensures that the Company establishes

sound corporate governance practices and procedures. He also

encourages al the Directors to make a ful and active contribution

to the afairs of the Board.

Mr. Hui Ka Tsun is the chief executive oficer of the Company.

The chief executive oficer of the Company is responsible for the

Company’s day-to-day management and operations and focuses

on implementing objectives, policies and strategies aproved and

delegated by the Board.

Responsibilities, Acountabilities and Contributions of the

Board and Senior Management

The Board is the primary decision-making body of the Company

and takes the responsibility to overse al major maters of the

Company, including the formulation and aproval of al policy

maters, overal strategies, internal control and risk management

systems, and monitor the performance of the senior executives.

The Directors have to make decisions objectively in the interests

of the Company. The Board directly, and indirectly through its

comites, leads and provides direction to the management

by laying down strategies and overseing their implementation,

monitors the Group’s operational and financial performance, and

ensures that sound internal control and risk management systems

are in place.

TSUN YIP HOLDINGS LIMITED

ANUAL REPORT 2024/2025 44

CORPORATE GOVERNANCE REPORT

企业管治报告

董事会已将本公司战略执行及日常营运与行

政管理职能决策之责任转授予由行政总裁领

导之管理团队。董事会已为管理团队制订指

引，列明最终决定权何时归属于董事会，于作

出决策或订立任何承诺前须取得事先批准，包

括但不限于任何建议须予公布之交易、关连交

易、重大投资、涉及营运及业务战略之重大商

业决定、本集团主要管理人员变动及内幕消息

披露。

委任、膺选连任及罢免

各执行董事已与本公司订立服务合约，初步固

定年期为三年，直至初步任期结束时或其后任

何时间届满，除非任何一方发出不少于三

(3)

个

月之书面通知或任何一方支付相当于三

(3)

个月

薪金作代通知金予以终止，惟须根据细则于其

获委任后之首个股东周年大会上轮值退任及

膺选连任，其后须根据细则、

GEM

上市规则及

其他适用法例的规定最少每三年于股东周年

大会上轮值退任及膺选连任一次。

非执行董事获委任之指定任期为三年，于任期

结束时或其后任何时间届满，除非任何一方

发出不少于一

(1)

个月之书面通知予以终止，并

须根据细则于其获委任后之首个股东周年大

会上轮值退任及膺选连任，其后须根据细则、

GEM

上市规则及其他适用法例的规定最少每

三年于股东周年大会上轮值退任及膺选连任

一次。

The Board has delegated the responsibilities of the execution

of strategies and decision making for day-to-day operation and

administration functions of the Company to the management

team headed by the chief executive oficer. The Board has set out

guidelines for management team as to when final authority should

rest with the Board and its prior aproval should be obtained before

making decisions or entering into any comitments; isue of such

include but not limited to any proposed notifiable transactions,

conected transactions, significant investments, major busines

decisions related to operation and busines strategy, change of key

management of the Group and disclosure of inside information.

Apointment, re-election and removal

Each of the executive Directors has entered into a service contract

with the Company for an initial fixed term of thre years, expiring at

the end of the initial term or at any time thereafter, unles terminated

by not les than thre (3) months’ notice in writing served by either

party or by the payment of the equivalent of thre (3) months

salary in lieu of such notice by either party, subject to retirement

by rotation and re-election at the first anual general meting of

the Company after his apointment pursuant to the Articles and

thereafter subject to retirement by rotation and re-election at

anual general meting at least once every thre years acording

to the provisions of the Articles, the GEM Listing Rules and other

aplicable laws.

The non-executive Director was apointed for a specific term of

thre years, expiring at the end of the term or at any time thereafter,

unles terminated by not les than one-(1) month’ notice in writing

served by either party and subject to retirement by rotation and re-

election at the first anual general meting of the Company after

her apointment pursuant to the Articles and thereafter subject to

retirement by rotation and re-election at anual general meting

at least once every thre years acording to the provisions of the

Articles, the GEM Listing Rules and other aplicable laws.

进业控股有限公司

2024/2025

年报

CORPORATE GOVERNANCE REPORT

企业管治报告

各独立非执行董事获委任之指定任期为三年，

于任期结束时或其后任何时间届满，除非任何

一方发出不少于一

(1)

个月之书面通知予以终

止，并须根据细则于其获委任后之首个股东周

年大会上轮值退任及膺选连任，其后须根据细

则、

GEM

上市规则及其他适用法例的规定最少

每三年于股东周年大会上轮值退任及膺选连

任一次。

根据细则，于每届股东周年大会上，当时三分

之一之董事须轮值退任，惟每名董事须最少每

三年轮值退任一次。该等退任董事符合资格并

愿意于股东周年大会上膺选连任。

概无董事与本集团任何成员公司订立不会于

一年内届满或有关雇主不得于一年内终止而

毋须支付任何赔偿（法定赔偿除外）之服务合

约。

独立非执行董事

本公司已订立相关机制以确保董事会可获得

独立观点及意见，包括但不限于不时检视独立

非执行董事持有合适资格及专业技能且已为

本集团投入充分时间、独立非执行董事数目已

遵守

GEM

上市规则规定，以及已设立渠道（包

括但不限于问卷调查或董事会议）以评估独

立非执行董事的贡献及意见。董事会将每年检

讨有关机制的实施及成效。

Each of the independent non-executive Directors was apointed

for a specific term of thre years, expiring at the end of the term

or at any time thereafter, unles terminated by not les than one-

’ notice in writing served by either party and subject to

retirement by rotation and re-election at the first anual general

meting of the Company after his apointment pursuant to the

Articles and thereafter subject to retirement by rotation and re-

election at anual general meting at least once every thre years

acording to the provisions of the Articles, the GEM Listing Rules

and other aplicable laws.

In acordance with the Articles, at each AGM one third of the

Directors for the time being shal retire from ofice by rotation

provided that every Director shal be subject to retirement by

rotation at least once every thre years. Such retiring Directors may,

being eligible, ofer themselves for re-election at the AGM.

None of the Directors has a service contract with any member

of the Group which does not expire or is not determinable

by the relevant employer within one year without payment of

compensation, other than statutory compensation.

Independent Non-executive Directors

The Company has established mechanisms to ensure independent

views and input are available to the Board, including without

limitation by reviewing that the independent non-executive

Directors have apropriate qualifications and expertise from time

to time with suficient time comitment to the Group, that the

number of independent non-executive Directors comply with the

requirements of the GEM Listing Rules, and that chanels are

established (including without limitation by questionaires or at

Board metings) to ases and evaluate the independent non-

executive Directors’ contribution and views. The implementation

and efectivenes of such mechanisms wil be reviewed by the

Board on an anual basis.

TSUN YIP HOLDINGS LIMITED

ANUAL REPORT 2024/2025 46

CORPORATE GOVERNANCE REPORT

企业管治报告

本公司已接获各独立非执行董事根据

GEM

上

市规则第

5.09

条作出之年度独立身份确认书。

本公司认为，所有独立非执行董事均属独立人

士。

守则第

C.2.7

段规定主席须至少每年与独立非

执行董事举行没有执行董事及非执行董事出

席的会议。尽管截至二零二五年三月三十一日

止年度主席并无与独立非执行董事举行没有

执行董事及非执行董事出席的会议，惟主席授

权公司秘书收集独立非执行董事可能存有之

任何疑虑及╱或问题并向其汇报，以便于适当

时候召开跟进会议（如有必要）。

董事会成员之关系

简臻廷先生及林舜娇女士分别为本公司执行

董事兼控股东简国祥先生之儿子及配偶。除

上文所披露者外，全体董事于董事会成员之间

概无任何关系（包括财务、业务、家族或其他重

大或相关系）。

董事会议

截至二零二五年三月三十一日止年度，董事会

总共已召开

次会议，其中

次为定期会议。各

董事出席董事会及委员会议以及股东大会

之记录载于本报告第

页。

The Company has received, from each of the independent non-

executive Directors, an anual confirmation of his independence

pursuant to Rule 5.09 of the GEM Listing Rules. The Company

considers al of the independent non-executive Directors are

independent.

Paragraph C.2.7 of the Code provides that the chairman should at

least anualy hold metings with the independent non-executive

Directors without the executive Directors and non-executive

Directors present. Although the chairman did not hold a meting

with the independent non-executive Directors, excluding the

executive Directors and non-executive Directors during the year

ended 31 March 2025, he delegated the company secretary to

gather any concerns and/or questions that the independent non-

executive Directors might have and report to him for seting up

folow-up metings, whenever necesary, in due course.

Relation of the Board Members

Mr. Kan Chun Ting Max and Ms. Lam Shun Kiu Rosita is the son

and the spouse of Mr. Kan Kwok Cheung, being an executive

Director and the controling shareholder of the Company

respectively. Save as disclosed above, al Directors are no

relationships (including financial, busines, family or other material

or relevant relationships) among members of the Board.

Meting of the Board

During the year ended 31 March 2025, the Board had convened

total 6 metings, 4 of which are in regular nature. The atendance

record of individual Directors at the Board and comites’

metings and general metings are set out in page 63 of this

report.

进业控股有限公司

2024/2025

年报

CORPORATE GOVERNANCE REPORT

企业管治报告

董事培训及专业发展

各董事充分了解作为本公司董事之职责以及

本公司之营运、业务活动及发展。本公司每月

向全体董事会成员提供有关本集团之表现及

财务状况之更新资料。

董事知悉守则第

C.1.4

段项下有关持续专业发

展的规定。于本年度，董事已审阅每月的业务

及财务更新资料，以及其他向彼等提供的阅读

材料，内容有关企业管治常规的最新发展以及

相关法律及监管发展。有关董事于各项持续专

业发展课程的出席记录由公司秘书保存如下：

Directors’ Training and Profesional Development

Every Director keps abreast of responsibilities as a director of the

Company and of the conduct, busines activities and development

of the Company. The Company provides al members of the Board

with monthly updates on the Group’s performance and financial

position.

The Directors are aware of the requirement under the paragraph

C.1.4 of the Code regarding continuous profesional development.

During the year, the Directors reviewed the monthly busines

and financial updates and other reading materials provided to

them concerning latest developments in corporate governance

practices and relevant legal and regulatory developments. A record

of the Directors’ participation in various continuous profesional

development program is kept by the company secretary as below:

Training

培训

Self-learning

Atend

seminar

Induction

training

自学进修参加研讨会入职培训

Executive Directors

执行董事

Mr. Kan Kwok Cheung

简国祥先生

✔

Mr. Hui Ka Tsun

(apointed on 16 April 2024)

许嘉骏先生

（于二零二四年四月十六日

获委任）

✔

Mr. Kan Chun Ting Max

(apointed on 16 April 2024)

简臻廷先生

（于二零二四年四月十六日

获委任）

✔

Dr. Jiang Yan

(resigned on 16 April 2024)

姜岩博士

（于二零二四年四月十六日

辞任）

✔

Dr. Li Yong Sheng

(resigned on 16 April 2024)

李永升博士

（于二零二四年四月十六日

辞任）

✔

Mr. Liu Da Yong

(resigned on 16 April 2024)

刘大勇先生

（于二零二四年四月十六日

辞任）

✔

TSUN YIP HOLDINGS LIMITED

ANUAL REPORT 2024/2025 48

CORPORATE GOVERNANCE REPORT

企业管治报告

董事有关法律行动之保险

根据守则的守则条文第

C.1.8

条，本公司应就

其董事可能会面对的法律行动作适当的投保

安排。有关董事责任保险将每年检讨及续保。

于保险保障于二零二零年八月三十日届满后，

本公司自该时起并无就针对其董事的法律行

动安排适当保险保障。于二零二四年九月十六

日，本公司已就针对其董事的法律行动重新安

排适当保险保障，并重新遵守则的守则条文

第

C.1.8

条。

Training

培训

Self-learning

Atend

seminar

Induction

training

自学进修参加研讨会入职培训

Non-executive Directors

非执行董事

Mr. Lam Shun Kiu Rosita

(apointed on 29 November 2024)

林舜娇女士

（于二零二四年十一月

二十九日获委任）

✔

Ms. Tang Li

(resigned on 16 April 2024)

唐丽女士

（于二零二四年四月十六日

辞任）

✔

Mr. Law Cheuk Hung

(resigned on 29 November 2024)

罗焯雄先生

（于二零二四年十一月

二十九日辞任）

✔

Independent non-executive

Directors

独立非执行董事

Mr. Chin Chi Ho Stanley

钱志浩先生

✔

Mr. Wong Chung Yip Keneth

(apointed on 16 April 2024)

王忠业先生

（于二零二四年四月十六日

获委任）

✔

Mr. Lai Ah Ming Leon

(apointed on 16 April 2024)

黎雅明先生

（于二零二四年四月十六日

获委任）

✔

Mr. Kwok Man To Paul

(resigned on 29 November 2024)

郭文韬先生

（于二零二四年十一月二十九

日辞任）

✔

Mr. Wu Guo Ming

(resigned on 16 April 2024)

吴国铭先生

（于二零二四年四月十六日

辞任）

✔

Mr. Wan Chi Keung Aaron, BS, JP

(resigned on 16 April 2024)

尹志强先生，

铜紫荆星章，太平绅士

（于二零二四年四月十六日

辞任）

✔

Directors’ insurance cover of legal action

Pursuant to code provision C.1.8 of the Code, the Company

should arange apropriate insurance cover in respect of legal

action against its Directors. Such directors’ liability insurance wil be

reviewed and renewed anualy. Upon the expiry of insurance cover

on 30 August 2020, the Company did not arange apropriate

insurance cover in respect of legal action against its Directors since

then. On 16 September 2024, the Company has rearanged an

apropriate insurance coverage in respect of legal action against its

Directors and re-complied with code provision C.1.8 of the Code.

进业控股有限公司

2024/2025

年报

CORPORATE GOVERNANCE REPORT

企业管治报告

董事委员会

董事会已成立四个委员会，即审核委员会（「审

核委员会」）、提名委员会（「提名委员会」）、薪

酬委员会（「薪酬委员会」）及风险管理委员会

（「风险管理委员会」），以督导本公司特定范

畴之事务。其各自职权范围载于本公司网站。

审核委员会

本公司已于二零一零年八月十一日成立审核

委员会，其职权范围符合守则第

D.3.3

段。

审核委员会的主要职责包括（其中包括）检讨及

监督本集团之财务申报程序及内部监控制度

以及整体风险管理、审阅本集团之财务报表及

中期及年度报告，以及审阅外聘核数师的委聘

条款及核数工作范围。

审核委员会之组成如下：

独立非执行董事

钱志浩先生（主席）

王忠业先生（于二零二四年四月十六日获委任）

黎雅明先生（于二零二四年十一月二十九日获委任）

吴国铭先生（于二零二四年四月十六日辞任）

尹志强先生，

铜紫荆星章，太平绅士

（于二零二四年

四月十六日辞任）

郭文韬先生（于二零二四年十一月二十九日辞任）

非执行董事

唐丽女士（于二零二四年四月十六日辞任）

罗焯雄先生（于二零二四年十一月二十九日辞任）

BOARD COMITES

The Board has established four comites, namely audit

comite (the “Audit Comite”), nomination comite

(the “Nomination Comite”), remuneration comite (the

“Remuneration Comite”) and risk management comite (the

“Risk Management Comite”), to overse particular aspects of

the Company’s afairs. Their respective terms of reference are set

out in the Company’s website.

Audit Comite

The Company has established the Audit Comite on 11 August

2010 with terms of reference in compliance with paragraph D.3.3

of the Code.

The primary duties of the Audit Comite include, among

other things, reviewing and supervising the financial reporting

proces and internal control systems, as wel as the overal risk

management of the Group, reviewing the financial statements

and the interim and anual reports of the Group, and reviewing

the terms of engagement and scope of audit work of the external

auditors.

The composition of the Audit Comite is as folows:

Independent non-executive Directors

Mr. Chin Chi Ho Stanley (Chairman)

Mr. Wong Chung Yip Keneth (Apointed on 16 April 2024)

Mr. Lai Ah Ming Leon (Apointed on 29 November 2024)

Mr. Wu Guo Ming (Resigned on 16 April 2024)

Mr. Wan Chi Keung Aaron, BS, JP (Resigned on 16 April 2024)

Mr. Kwok Man To Paul (Resigned on 29 November 2024)

Non-executive Directors

Ms. Tang Li (Resigned on 16 April 2024)

Mr. Law Cheuk Hung (Resigned on 29 November 2024)

TSUN YIP HOLDINGS LIMITED

ANUAL REPORT 2024/2025 50

CORPORATE GOVERNANCE REPORT

企业管治报告

审核委员会之成员具有不同行业经验，而审核

委员会主席于会计事务方面拥有适当之专业

资格及经验。

工作概要

于本年度，审核委员会已召开

次会议，以讨论

及审阅截至二零二四年九月三十日止六个月

之中期业绩及截至二零二五年三月三十一日

止年度之年度业绩，并认为该等业绩的编制符

合适用会计准则并已作出充分披露。

提名委员会

本公司已于二零一零年八月十一日设立提名

委员会，其职权范围符合守则第

B.3.1

段。

提名委员会的主要职责包括审阅董事会结构、

规模及组成，物色及提名董事，以及就委任及

续聘董事向董事会提出推荐意见，审阅董事会

成员多元化政策，审阅提名政策以及审阅及评

估独立非执行董事的独立性，并于需要时提出

建议。

The members of the Audit Comite poses diversified

industry experience and the chairman of the Audit Comite

has apropriate profesional qualifications and experience in

acounting maters.

Sumary of works

During the year, the Audit Comite has convened 2 metings

to discus and review the interim results for the six months ended

30 September 2024 and the anual results for the year ended

31 March 2025 and is of the opinion that the preparation of such

results complied with the aplicable acounting standards and that

adequate disclosures have ben made.

Nomination Comite

The Company has established the Nomination Comite on 11

August 2010 with terms of reference in compliance with paragraph

B.3.1 of the Code.

The primary duties of the Nomination Comite include reviewing

the structure, size and composition of the Board, identifying and

nomination of directors and making recomendations to the

Board on apointment and re-apointment of Directors, reviewing

the board diversity policy, reviewing the nomination policy and

reviewing and acesing the independence of the independent

non-executive Director and making recomendation if necesary.

进业控股有限公司

2024/2025

年报

CORPORATE GOVERNANCE REPORT

企业管治报告

提名委员会之组成如下：

执行董事

简国祥先生（主席）

（于二零二四年四月十六日调任为主席）

林舜娇女士（于二零二五年六月三十日获委任）

许嘉骏先生（于二零二四年四月十六日获委任

及于二零二五年六月三十日辞任）

姜岩博士（于二零二四年四月十六日辞任）

独立非执行董事

钱志浩先生（于二零二四年四月十六日辞任并

于二零二四年十一月二十九日获重新委任）

王忠业先生（于二零二四年四月十六日获委任）

黎雅明先生（于二零二四年四月十六日获委任）

吴国铭先生（于二零二四年四月十六日辞任）

尹志强先生，

铜紫荆星章，太平绅士

（于二零二四年

四月十六日辞任）

郭文韬先生（于二零二四年十一月二十九日辞任）

工作概要

于截至二零二五年三月三十一日止年度，提

名委员会已召开四次会议，以检讨董事会架

构、规模及组成，评估独立非执行董事之独立

性，以及考虑于股东周年大会上退任及重选连

任之董事。提名委员会已于二零二五年四月

二十四日审阅载于上文「董事会成员多元化政

策」一段之董事会成员多元化政策。

当物色到适合的董事候选人，提名委员会将参

考拟议候选人的技能、经验、教育背景、专业

知识、个人诚信及时间承诺开展筛选程序，亦

会考虑本公司之需要及其他相关法定要求及

法规。合资格候选人随后将向董事会推荐以获

得批准。

The composition of the Nomination Comite is as folows:

Executive Directors

Mr. Kan Kwok Cheung (Chairman)

(Redesignated as Chairman on 16 April 2024)

Ms. Lam Shun Kiu Rosita (Apointed on 30 June 2025)

Mr. Hui Ka Tsun (Apointed on 16 April 2024 and

resigned on 30 June 2025)

Dr. Jiang Yan (Resigned on 16 April 2024)

Independent non-executive Directors

Mr. Chin Chi Ho Stanley (Resigned on 16 April 2024 and

re-apointed on 29 November 2024)

Mr. Wong Chung Yip Keneth (Apointed on 16 April 2024)

Mr. Lai Ah Ming Leon (Apointed on 16 April 2024)

Mr. Wu Guo Ming (Resigned on 16 April 2024)

Mr. Wan Chi Keung Aaron, BS, JP (Resigned on 16 April 2024)

Mr. Kwok Man To Paul (Resigned on 29 November 2024)

Sumary of work

During the year ended 31 March 2025, the Nomination Comite

had convened 4 metings to review the structure, size and

composition of the Board, asesed the independence of the

Independent non-executive Directors and considered the Directors

to retire and stand for re-election at the AGM. The Nomination

Comite has also reviewed the board diversity policy as set out

in the paragraph headed “Board Diversity Policy” above on 24 April

2025.

When identifying suitable candidates for directorship, the

Nomination Comite wil cary out the selection proces by

making reference to the skils, experience, education background,

profesional knowledge, personal integrity and time comitments

of the proposed candidates, and also the Company’s neds and

other relevant statutory requirements and regulations. Qualified

candidates wil then be recomended to the Board for aproval.

TSUN YIP HOLDINGS LIMITED

ANUAL REPORT 2024/2025 52

CORPORATE GOVERNANCE REPORT

企业管治报告

提名政策

董事会已采纳提名政策（「提名政策」），其中载

列甄选标准及提名程序，以识别、甄选及推荐

董事候选人。提名政策旨在

(i)

列出本公司董事

提名及委任的准则及程序；

(i)

确保本公司董事

会在适合本公司的技能、经验及多元化观点方

面取得平衡；及

(i)

确保董事会的连续性及董事

会层面的适当领导。

甄选标准

提名委员会于评估向董事会建议之候选人之

适合性时，应考虑若干因素，包括但不限于以

下各项：

(a)

品格与诚信；

(b)

资格，包括专业资格、技能、知识及与本

公司业务及策略相关的经验，以及董事会

成员多元化政策所提述的多元化因素；

(c)

为达致董事会成员多元化而采纳的任何

可计量目标；

(d)

根据

GEM

上市规则，董事会需包括独立董

事的规定，以及参考

GEM

上市规则内列明

候选人是否被视为独立的指引；

(e)

候选人的专业资格、技能、经验、独立性

及性别多元化方面可为董事会带来的任

何潜在贡献；

(f)

是否愿意及是否能够投放足够时间履行

身为本公司董事会成员及╱或担任董事

委员会的委员的职责；及

Nomination Policy

The Board has adopted a nomination policy (the “Nomination

Policy”) which sets out the selection criteria and nomination

procedures to identify, select and recomend candidates for

Directors. The Nomination Policy aims to (i) set out the criteria and

proces in the nomination and apointment of directors of the

Company; (i) ensure that the Board of the Company has a balance

of skils, experience and diversity of perspectives apropriate to

the Company; and (i) ensure the Board continuity and apropriate

leadership at Board level.

Selection Criteria

The Nomination Comite shal consider a number of the factors

in asesing the suitability of a proposed candidate to the Board,

including but not limited to the folowing:

(a) character and integrity;

(b) qualifications including profesional qualifications, skils,

knowledge and experience and diversity aspects under the

Board Diversity Policy that are relevant to the Company’s

busines and corporate strategy;

the Board;

(d) requirement for the Board to have independent directors in

acordance with the GEM Listing Rules and whether the

candidate would be considered independent with reference to

the independence guidelines set out in the GEM Listing Rules;

(e) any potential contributions the candidate can bring to

the Board in terms of qualifications, skils, experience,

independence and gender diversity;

(f) wilingnes and ability to devote adequate time to discharge

duties as a member of the Board and/or Board comite(s)

of the Company; and

进业控股有限公司

2024/2025

年报

CORPORATE GOVERNANCE REPORT

企业管治报告

(g)

其他适用于本公司业务及继任计划的观

点，董事会及╱或提名委员会可于适用时

因应提名董事及继任规划不时采纳及╱

或修订有关观点。

提名程序

委任新董事

提名委员会及╱或董事会可从各种途径

招揽董事人选，包括但不限于内部晋升、

调任、由管理层其他成员和外部招聘代理

人推荐。

提名委员会及╱或董事会在收到委任新

董事的建议及候选人的履历资料（或相关

详情）后，依据上述准则评估该候选人，以

决定该候选人是否合资格担任董事。

如过程涉及一个或多个合意的候选人，提

名委员会及╱或董事会应根据本公司的

需要及每位候选人的证明审查（如适用）排

列彼等之优先次序。

iv.

提名委员会随后应就委任合适人选担任

董事一事向董事会提出建议（如适用）。

就任何经由股东提名于本公司股东大会

上选举为董事的人士，提名委员会及╱或

董事会应依据上述准则评估该候选人，以

决定该候选人是否合资格担任董事。提名

委员会及╱或董事会应于适当时候就于

股东大会上委任董事的提案向股东提出

建议。

(g) such other perspectives that am apropriate to the

Company’s busines and sucesion plan and where

aplicable, may be adopted and/or amended by the Board

and/or the Nomination Comite from time to time for

nomination of directors and sucesion planing.

Nomination Procedures

Apointment of New Director

/or the Board may select

candidates for directorship from various chanels, including

but not limited to internal promotion, re-designation, referal

by other member of the management and external recruitment

agents.

i. The Nomination Comite and/or the Board should, upon

receipt of the proposal on apointment of new director and the

biographical information (or relevant details) of the candidate,

evaluate such candidate based on the criteria as set out

above to determine whether such candidate is qualified for

directorship.

i. If the proces yields one or more desirable candidates, the

Nomination Comite and/or the Board should rank them by

order of preference based on the neds of the Company and

reference check of each candidate (where aplicable).

iv. The Nomination Comite should then recomend to the

Board to apoint the apropriate candidate for directorship,

as aplicable.

v. For any person that is nominated by a shareholder for election

as a director at the general meting of the Company, the

Nomination Comite and/or the Board should evaluate

such candidate based on the criteria as set out above to

determine whether such candidate is qualified for directorship.

Where apropriate, the Nomination Comite and/or the

Board should make recomendation to shareholders in

respect of the proposed election of director at the general

meting.

TSUN YIP HOLDINGS LIMITED

ANUAL REPORT 2024/2025 54

CORPORATE GOVERNANCE REPORT

企业管治报告

于股东大会上重选董事

提名委员会及╱或董事会应检讨退任董

事对本公司的整体贡献及服务，以及在董

事会的参与程度及表现。

提名委员会及╱或董事会亦应检讨及确

定退任董事是否仍然符合上述准则。

提名委员会及╱或董事会应就于股东大

会上重选董事的提案向股东提出建议。若

董事会拟于股东大会上提呈决议案委任

或重选某候选人为董事，随附有关股东大

会通告的致股东通函及╱或说明函件中，

将会按

GEM

上市规则及╱或适用法律及

规则要求载列候选人的有关资料。

监察与汇报

提名委员会将监察提名政策的实施情况，并于

必要时向董事会报告。此外，提名委员会将在

适当时候检讨提名政策，以确保提名政策行之

有效并将会讨论任何或需作出的修订，再向董

事会提出修订建议，由董事会审批。

Re-election of Director at General Meting

/or the Board should review

the overal contribution and service to the Company of the

retiring director and the level of participation and performance

on the Board.

i. The Nomination Comite and/or the Board should also

review and determine whether the retiring director continues to

met the criteria as set out above.

i. The Nomination Comite and/or the Board should then

make recomendation to shareholders in respect of the

proposed re-election of director at the general meting.

Where the Board proposes a resolution to elect or re-elect

a candidate as director at the general meting, the relevant

information of the candidate wil be disclosed in the circular to

shareholders and/or explanatory statement acompanying the

notice of the relevant general meting in acordance with the

GEM Listing Rules and/or aplicable laws and regulations.

Monitoring and reporting

The Nomination Comite wil monitor the implementation of

the Nomination Policy and report to the Board when necesary.

Also, the Nomination Comite wil review the Nomination Policy,

as apropriate, to ensure the efectivenes of the Nomination

Policy and wil discus any revisions that may be required, and

recomend any such revisions to the Board for consideration and

aproval.

进业控股有限公司

2024/2025

年报

CORPORATE GOVERNANCE REPORT

企业管治报告

本公司以正式、审慎及透明的程序检讨其提名

政策，以协助识别及提名董事候选人。所有候

选人有效的提名连同履历详情将提交董事会

审议。将考虑候选人的诚信、经验及与本集团

业务有关的资历等因素。提名委员会的成员共

同认为将需要具备相关的知识及技能以识别、

邀请及评估获提名董事候选人的资格。

董事会成员多元化政策

本公司已于二零一三年八月三十日采纳董事

会成员多元化政策，旨在达致本集团可持续均

衡发展。本公司视董事会层面日益多元化为支

持其达到战略目标及可持续发展的关键因素。

随著本公司采纳董事会成员多元化政策，本公

司明白到并接受拥有一个多元化的董事会对

提升整体业绩的裨益。本著实现可持续及均衡

发展的愿景，本公司视董事会成员多元化为实

现其策略性目标的必要条件。董事的委任以举

贤任能为本，并在充分考虑一系列多元化目标

的基础上进行，其中包括性别、年龄、文化和

教育背景、服务年资、专业经验、对本集团业

务的了解，以及广泛的个人特质、兴趣和价值

观。

下文披露董事会成员多元化政策概要，以及实

施该政策之可计量目标以及实现该目标之进

度。

The Company reviewed its nomination policy for a formal,

considered and transparent procedure to help identifying and

nomination of candidates for Directors. Al valid nomination of

candidates, acompanied with biographical details, would be

presented to the Board for consideration. Consideration would

be given to factors such as the candidate’s integrity, experience

and qualifications relevant to the Group’s busines. It is believed

that members of the Nomination Comite colectively would

have required relevant knowledge and skils to identify, invite and

evaluate qualifications of nominated candidates for directorship.

Board diversity policy

The Company has adopted the board diversity policy on 30

August 2013 with a view to achieving a sustainable and balanced

development of the Group. 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.

With the Board Diversity Policy adopted by the Company, the

Company recognises and embraces the benefits of having a

diverse Board towards enhancement of its overal performance.

With a vision of achieving a sustainable and balanced development,

the Company regards Board diversity as an esential element

for achieving its strategic goals. Apointments of Directors

are made on merits having due regard to a range of diversity

objectives, including inter alia gender, age, cultural and educational

background, length of service, profesional experience, knowledge

of the Group’s busines and a broad range of individual atributes,

interests and values.

A sumary of the Board Diversity Policy together with the

measurable objectives for implementing such policy and the

progres on achieving such objectives are disclosed below.

TSUN YIP HOLDINGS LIMITED

ANUAL REPORT 2024/2025 56

CORPORATE GOVERNANCE REPORT

企业管治报告

董事会成员多元化政策概要

本公司认同董事会成员多元化对企业管治及

董事会行之有效的重要性。董事会成员多元化

政策旨在列载基本原则，以确保

(i)

考虑候选人

多元化；及

(i)

董事会的成员在技能、经验以及

视角的多元化方面达到适当的平衡，从而提升

董事会的有效运作并保持高标准的企业管治

水平。董事会成员的提名与委任均以用人唯才

为原则，以日常的业务需求为基准，并考虑董

事会成员多元化的裨益。本公司已确定并实施

计划，将有助于招聘更广泛、更多元化之熟练

及经验丰富之雇员，且彼等之技能将及时为高

级管理层及董事会职位做好准备。

可计量目标

董事会候选人的甄选工作将以一系列多元化

范畴为基准，并参考本公司的业务模式和特定

需要，包括但不限于性别、年龄、种族、语言、

文化背景、教育背景、行业经验及专业经验。

最终决定应基于用人唯才及所选候选人应向

董事会作出的贡献。

为实施董事会成员多元化政策，本公司已采用

以下可计量目标：

(i)

独立性：

董事会应包括均衡的执行及非执行董事

（包括独立非执行董事）构成，以使董事

会具备较强的独立性。独立非执行董事应

具备相当的才干及地位以使彼等的观点

具有影响力。

Sumary of the Board Diversity Policy

The Company recognises the importance of diversity in board

members to corporate governance and the board efectivenes.

The purposes of the Board Diversity Policy are to set out the

basic principles to be folowed to ensure that (i) a diverse

range of candidates are considered; and (i) the Board has

the apropriate balance of skils, experience and diversity of

perspectives necesary to enhance the efectivenes of the

Board and to maintain high standards of corporate governance.

Board nomination and apointments wil be made on merit basis

based on its busines neds from time to time while taking into

acount the benefits of diversity. The Company has identified

and implemented programs that wil asist in the development

of a broader and more diverse pol of skiled and experienced

employes and that, in time, their skils wil prepare them for senior

management and board positions.

Measurable objectives

Selection of board candidates shal be based on a range of diversity

perspectives with reference to the Company’s busines model

and specific neds, including but not limited to gender, age, race,

language, cultural background, educational background, industry

experience and profesional experience. The ultimate decision shal

be based on merit and contribution that the selected candidates

shal bring to the Board.

For the purpose of implementation of the Board Diversity Policy, the

folowing measurable objectives were adopted:

(i) Independence:

The Board should include a balanced composition of

executive and non-executive Directors (including independent

non-executive Directors) so that there is a strong element of

independence in the Board. The independent non-executive

Directors shal be of suficient caliber and stature for their views

to cary weight.

进业控股有限公司

2024/2025

年报

CORPORATE GOVERNANCE REPORT

企业管治报告

(i)

技能及经验：

董事会拥有适用于本公司业务要求的均

衡技能。董事具备财务、学术及管理背景

的组合，其在一系列业务中共同为本公司

提供丰富的经验。

监察与汇报

提名委员会负责检讨董事会成员多元化政策、

制定并检讨可计量目标，以确保董事会成员多

元化政策的执行，并监察可计量目标的实现进

度。提名委员会至少每年检讨本政策与可计量

目标，以确保董事会持续行之有效。

于二零二五年四月二十四日，提名委员会已考

虑及检讨董事会成员多元化政策及本公司董

事提名政策，连同向董事会提供的推荐建议以

供批准。提名委员会建议对董事会多元化政策

作出之任何修订将提交董事会审议及批准。

(i) Skils and experience:

The Board poseses a balance of skils apropriate for

the requirements of the busines of the Company. The

Directors have a mix of finance, academic and management

backgrounds that taken together provide the Company with

considerable experience in a range of activities.

Monitoring and reporting

The Nomination Comite is responsible for reviewing the Board

Diversity Policy, developing and reviewing measurable objectives

for implementing the Board Diversity Policy and monitoring

the progres on achieving these measurable objectives. The

Nomination Comite shal review this policy and the measurable

objectives at least anualy to ensure the continued efectivenes of

the Board.

On 24 April 2025, the Nomination Comite considered and

reviewed the board diversity policy and the director nomination

policy of the Company, with recomendations to the Board

for aproval. Any revisions to the Board Diversity Policy as

recomended by the Nomination Comite would be submited

to Board for consideration and aproval.

TSUN YIP HOLDINGS LIMITED

ANUAL REPORT 2024/2025 58

CORPORATE GOVERNANCE REPORT

企业管治报告

本公司有意识地维持由独立非执行董事为大

多数组成的董事会，以及董事会中有适当水平

的女性成员。目前，董事会半数董事为独立非

执行董事。彼等具有在国际及本地企业发展事

业的多方面经验。目前，女性董事占董事会约

14.3%

（七名董事中有一名为女性）。董事会认

为，现时已达成董事会性别多元化，并致力维

持董事会的性别多元化。由于董事会认为已实

现性别多元化，故董事会目前并无就实现董事

会性别多元化设定其他数字目标及时间表。尽

管本公司正有意识致力履行董事会成员多元

化政策，然而所有任命最终在考虑到现有合适

候选人的情况下以用人唯才为基础作出。董事

会已审阅截至二零二五年三月三十一日止年

度政策的实施情况及有效性，并认为董事会多

元化政策属充足有效。

劳动力多元化

于二零二五年三月三十一日，除本公司董事

外，本集团共有

名员工。员工性别构成为约

74.7%

为男性员工及

25.3%

为女性员工。由于

本公司从事以男性为主的建筑业务，董事会认

为，于截至二零二五年三月三十一日止年度，

本集团劳动力性别多元化维持良好。按雇员类

别划分的性别比率详情已载于本年报环境、社

会及管治报告「

：雇佣」一节。

作为继任计划的一部分，尽管我们希望高级管

理层成员中能有更多女性，并有意增加员工中

的女性占比。然而，由于我们经营所在的市场

（尤其是建筑）传统上以男性劳动力为主，这

对我们而言极具挑战。倘有合适的人选，我们

将把握机会，提高员工中的女性比例。

The Company is conscious of maintaining a Board made up with

independent non-executive Directors as the majority, together

with an apropriate level of female members on the Board. At

present, half of the directors on the Board are independent non-

executive Directors. They represent diverse carer experience in

both international and local enterprises. Curent female Director

acounts for about 14.3% if the Board (one female out of seven

Directors). The Board considers that gender diversity is curently

achieved in the Board and is comited to maintaining gender

diversity in the Board. As the Board considers gender diversity has

ben achieved, the Board curently has no further numerical target

and timeline set for achieving gender diversity on the Board. While

conscious eforts are being taken by the Company to fulfil the Board

Diversity Policy, al apointments are ultimately made on a merit

basis taking into acount available and suitable candidates. The

Board has reviewed the implementation and efectivenes of the

Policy for the year ended 31 March 2025 and was of the view that

the Board Diversity Policy was suficient and efective.

Workforce Diversity

As at 31 March 2025, except the directors of the Company, the

Group had a total of 225 staf members. The gender composition

of the staf members was aproximately 74.7% male staf

members and 25.3% female staf members. As the Company

engages in the construction busines which is predominated by

male, the Board considered that gender diversity of the workforce

of the Group has ben wel maintained during the year ended

31 March 2025. The details of gender ratios in the workforce by

categories of employes are set out in the section headed “B1:

Employment” in the Environment, Social and Governance (ESG)

Report in this Anual Report.

While we would aspire to have more female representation

amongst our senior management as part of sucesion planing

and to increase female representation amongst our workforce, we

are also mindful of the significant chalenges in doing so as the

market in which we operate (construction in particular) traditionaly

has a predominantly male workforce. We wil continue to take

oportunities to increase the proportion of females amongst our

staf, as and when suitable candidates are identified.

进业控股有限公司

2024/2025

年报

CORPORATE GOVERNANCE REPORT

企业管治报告

薪酬委员会

本公司已于二零一零年八月十一日设立薪酬

委员会，其职权范围符合守则第

E.1.2

段。

薪酬委员会的主要职责包括（其中包括）制订及

向董事会建议有关薪酬政策、厘定全体执行董

事及高级管理层的具体薪酬福利，以及就非执

行董事的薪酬向董事会作出建议。

本公司采纳本董事会报告中「薪酬政策」一节所

披露的董事薪酬政策。

薪酬委员会之组成如下：

独立非执行董事

黎雅明先生（主席）（于二零二四年四月十六日

获委任）

王忠业先生（于二零二四年四月十六日获委任）

钱志浩先生（于二零二四年四月十六日辞任并

于二零二四年十一月二十九日获重新委任）

尹志强先生，

铜紫荆星章，太平绅士

（于二零二四年

四月十六日辞任）

吴国铭先生（于二零二四年四月十六日辞任）

郭文韬先生（于二零二四年十一月二十九日辞任）

工作概要

于本年度，薪酬委员会已召开四次会议以考虑

修订董事薪酬及全体董事之薪酬待遇，根据薪

酬委员会书面职权范围审阅拟任董事之薪酬

待遇并就其向董事会提出意见。

于二零二五年四月二十四日，薪酬委员会举行

一次会议，会上已个别审阅全体董事及高级管

理层于年内的薪酬待遇，并考虑二零二五年度

的薪酬调整及花红分配（如有）建议。

Remuneration Comite

The Company has established the Remuneration Comite on 11

August 2010 with terms of reference in compliance with paragraph

E.1.2 of the Code.

The primary duties of the Remuneration Comite include,

among other things, formulating and making recomendations

to the Board on the remuneration policy, determining the specific

remuneration packages of al executive Directors and senior

management and making recomendations to the Board of the

remuneration of non-executive Directors.

The Company adopts the remuneration policy to its Directors as

disclosed in the section headed “Remuneration Policy” in this

Directors’ report.

The composition of the Remuneration Comite is as folows:

Independent non-executive Directors

Mr. Lai Ah Ming Leon (Chairman) (Apointed on 16 April 2024)

Mr. Wong Chung Yip Keneth (Apointed on 16 April 2024)

Mr. Chin Chi Ho Stanley (Resigned on 16 April 2024 and

re-apointed on 29 November 2024)

Mr. Wan Chi Keung Aaron, BS, JP (Resigned on 16 April 2024)

Mr. Wu Guo Ming (Resigned on 16 April 2024)

Mr. Kwok Man To Paul (Resigned on 29 November 2024)

Sumary of work

During the year, the Remuneration Comite had convened 4

metings to consider the revision of Directors’ remuneration and

the remuneration packages of al the Directors, reviewed and made

recomendations to the Board on the remuneration package

of the proposed Directors in acordance with the Remuneration

Comite’s writen terms of reference.

On 24 April 2025, the Remuneration Comite has held a

meting during which the remuneration packages of al Directors

and senior management for the year have ben reviewed

individualy and the proposal for year 2025 remuneration

adjustment and bonus distribution, if any, were considered.

TSUN YIP HOLDINGS LIMITED

ANUAL REPORT 2024/2025 60

CORPORATE GOVERNANCE REPORT

企业管治报告

风险管理委员会

本公司已于二零一六年六月十五日设立风险

管理委员会，其书面职权范围符合

GEM

上市规

则及守则。

风险管理委员会之主要职责包括（其中包括）检

讨本集团之风险管理系统；评估来自主要决策

之风险及考虑针对重大风险之解决方案；监督

本集团之风险情况；检讨及监督出现之有关本

集团业务及策略之风险；定期对本集团之风险

情况及风险管理能力进行评估；及持续监察本

集团之风险管理及内部控制系统。

风险管理委员会之组成如下：

独立非执行董事

王忠业先生（主席）（于二零二四年四月十六日

获委任并于二零二四年十一月二十九日

调任为主席）

钱志浩先生（于二零二四年四月十六日调任为

成员）

黎雅明先生（于二零二四年四月十六日获委任）

吴国铭先生（于二零二四年四月十六日辞任）

尹志强先生，

铜紫荆星章，太平绅士

（于二零二四年

四月十六日辞任）

郭文韬先生（于二零二四年十一月二十九日辞任）

Risk Management Comite

The Company established the Risk Management Comite on 15

June 2016 with writen terms of reference in compliance with the

GEM Listing Rules and the Code.

The main duties of the Risk Management Comite include,

among other things, reviewing the risk management system

of the Group; asesing the risks from major decisions and to

consider solutions for significant risk; monitoring the Group’s

risk profile; reviewing and monitor emerging risks relating to the

Group’s busines and strategies; having periodic asesment on

the Group’s risk profile and risk management capabilities; and

overseing the Group’s risk management and internal control

systems on an ongoing basis.

The composition of the Risk Management Comite is as folows:

Independent non-executive Directors

Mr. Wong Chung Yip Keneth (Chairman) (Apointed on 16 April

2024 and redesignated as Chairman on 29 November 2024)

Mr. Chin Chi Ho Stanley (Re-designated as member on

16 April 2024)

Mr. Lai Ah Ming Leon (Apointed on 16 April 2024)

Mr. Wu Guo Ming (Resigned on 16 April 2024)

Mr. Wan Chi Keung Aaron, BS, JP (Resigned on 16 April 2024)

Mr. Kwok Man To Paul (Resigned on 29 November 2024)

进业控股有限公司

2024/2025

年报

CORPORATE GOVERNANCE REPORT

企业管治报告

工作概要

风险管理委员会须每年至少会面一次，以考虑

对风险管理事宜之主要调查结果及管理层持

续监督风险之范畴及质素。于本年度，风险管

理委员会已召开一次会议以考虑本集团之风

险评估。

企业管治职能

本公司并无就本集团之企业管治职能设立任

何委员会，有关职能由董事会共同负责。董事

会了解其共同监察企业管治职能之责任。董事

会负责企业管治职能，并有下列职责：

•

制订及检讨本公司的企业管治政策及常

规，并就变动及更新提出建议；

•

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；

•

制订、检讨及监察适用于雇员及董事的操

守则及合规手册（如有）；

•

检讨本公司遵守则的情况及于企业管

治报告中作出的披露；及

•

载列于守则（经不时修订）内董事会负责的

该等其他企业管治职责及职能。

Sumary of work

The Risk Management Comite should met at least once a

year to consider major investigation findings on risk management

maters and the scope and quality of management’s ongoing

monitoring of risks. During the year, the Risk Management

Comite had convened one meting to consider the risk

asesment of the Group.

Corporate Governance Functions

The Company has not established any comite responsible

for the corporate governance function of the Group and the

function has ben colectively performed by the Board. The

Board acknowledges the overseing of the corporate governance

function by the Board colectively. The Board is responsible for the

corporate governance functions with the folowing duties:

’s policies and practices

on corporate governance and make recomendations on

changes and updating;

• to review and monitor the training and continuous profesional

development of Directors and senior management;

’s policies and practices

on compliance with legal and regulatory requirements;

, review and monitor the code of conduct and

compliance manual (if any) aplicable to employes and

Directors;

’s compliance with the Code and

disclosure in the corporate governance report; and

• such other corporate governance duties and functions set

out in the Code (as amended from time to time) for which the

Board are responsible.

TSUN YIP HOLDINGS LIMITED

ANUAL REPORT 2024/2025 62

CORPORATE GOVERNANCE REPORT

企业管治报告

董事会已审阅及批准本报告所载企业管治报

告。董事会检讨本公司之企业管治政策及常规

以及本公司遵守法律及监管规定之情况。

会议出席记录

董事会拟订每年最少举行四次定期会议，董事

将在会议召开最少

天前收到书面通知。任何

临时召开的董事会议，董事会在合理可行情

况下接获有关通知。议程及附随之文件于董事

会议举行日期至少三天之前寄予董事，以确

保董事有充足的时间审阅有关资料。常规董事

会议纪录之初稿及定稿将分别送交全体董

事，以征求其意见及供彼等存案。本集团将及

时告知全体董事可能影响本集团业务之重大

变动，包括有关规则及规例。董事会亦了解倘

出现潜在利益冲突，董事或任何其联系人于交

易中拥有重大利益时须放弃表决，而独立非执

行董事须领导实体会议讨论拟进行之有关交

易。所有董事可在适当情况下就履行彼等职责

寻求独立专业意见，有关合理成本由本公司承

担。

The Board has reviewed and aproved the Corporate Governance

Report set out in this report. The Board reviewed the Company’s

corporate governance policies and practices, and the Company’s

compliance with legal and regulatory requirements.

ATENDANCE RECORDS OF METINGS

The Board is scheduled to met regularly at least four times a

year, and Directors wil receive at least 14 days prior writen notice

of such metings. For any ad hoc Board metings, Directors

are given as much notice as is reasonably practicable in those

circumstances. Agendas and acompanying papers are sent not

les than 3 days before the date of Board metings to ensure that

the Directors are given suficient time to review the same. Draft and

final versions of minutes of regular board metings are circulated

to al directors for their coment and records respectively. Al

Directors are kept informed in a timely maner of major changes

that may afect the Group’s busineses, including relevant rules and

regulations. The Board also understands where potential conflicts

of interests arise, the independent non-executive Directors shal

take the lead the physical metings in discusing the relevant

transactions being contemplated when there is a Director or any

of his asociates having a material interest in the transactions and

shal abstain from voting. Al directors, in the discharge of their

duties, are alowed to sek independent profesional advice in

apropriate circumstances at a reasonable cost to be borne by the

Company.

进业控股有限公司

2024/2025

年报

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，董事于

董事会及委员会议以及股东大会之出席率

详情如下：

Details of the Directors’ atendance at Board and comites’

metings and general metings for the year ended 31 March 2025

are set out below:

Board

Audit

Comite

Nomination

Comite

Remuneration

Comite

Risk

Management

Comite

General

meting

董事会审核委员会提名委员会薪酬委员会风险管理委员会股东大会

Number of metings

会议次数

Executive Directors

执行董事

Mr. Kan Kwok Cheung

简国祥先生

6/6–4/4–4/4

Mr. Hui Ka Tsun (apointed on 16 April 2024)

许嘉骏先生（于二零二四年

四月十六日获委任）

5/5–3/3–3/3

Mr. Kan Chun Ting Max

(apointed on 16 April 2024)

简臻廷先生（于二零二四年

四月十六日获委任）

5/5–2/3

Dr. Jiang Yan (resigned on 16 April 2024)

姜岩博士（于二零二四年

四月十六日辞任）

1/1–1/1–1/1

Dr. Li Yong Sheng (resigned on 16 April 2024)

李永升博士（于二零二四年

四月十六日辞任）

1/1–1/1

Mr. Liu Da Yong (resigned on 16 April 2024)

刘大勇先生（于二零二四年

四月十六日辞任）

1/1–1/1

Non-executive Directors

非执行董事

Ms. Lam Shun Kiu Rosita

(apointed on 29 November 2024)

林舜娇女士（于二零二四年

十一月二十九日获委任）

–

Ms. Tang Li (resigned on 16 April 2024)

唐丽女士（于二零二四年

四月十六日辞任）

0/1–0/1

Mr. Law Cheuk Hung

(resigned on 29 November 2024)

罗焯雄先生（于二零二四年

十一月二十九日辞任）

6/62/2–4/4

Independent non-executive Directors

独立非执行董事

Mr. Chin Chi Ho Stanley

钱志浩先生

6/62/21/11/11/14/4

Mr. Wong Chung Yip Keneth

(apointed on 16 April 2024)

王忠业先生（于二零二四年

四月十六日获委任）

5/52/23/33/31/13/3

Mr. Lai Ah Ming Leon

(apointed on 16 April 2024)

黎雅明先生（于二零二四年

四月十六日获委任）

5/5–3/33/31/13/3

Mr. Wu Guo Ming (resigned on 16 April 2024)

吴国铭先生（于二零二四年

四月十六日辞任）

1/1–1/11/1–1/1

Mr. Wan Chi Keung Aaron, BS, JP

(resigned on 16 April 2024)

尹志强先生，

铜紫荆星章，太平绅士

（于二零二四年

四月十六日辞任）

1/1–1/11/1–1/1

Mr. Kwok Man To Paul

(resigned on 29 November 2024)

郭文韬先生（于二零二四年

十一月二十九日辞任）

4/61/22/42/41/14/4

Average atendance rate

平均出席率

90.5%87.5%94.4%91.7%100.0%90.5%

TSUN YIP HOLDINGS LIMITED

ANUAL REPORT 2024/2025 64

CORPORATE GOVERNANCE REPORT

企业管治报告

董事及外聘核数师各自的责任

董事负责根据有关法律及

GEM

上市规则之披

露规定，编制真实及公平地反映本集团事务状

况、业绩及现金流量之财务报表。

本公司核数师就财务报表而发出的报告责任

声明载于本报告第

页至第

页的「独立核

数师报告」一节。

核数师酬金

本公司核数师于截至二零二五年三月三十一

日止年度所提供审核服务的酬金为

650,000

港元。

风险管理及内部监控

董事会对本集团的风险管理及内部监控系统

承担全部责任，以保障本公司及其股东的整体

利益。为此，董事会监督及审批本集团的风险

管理及内部监控策略与政策，相关策略与政策

旨在评估及厘定风险性质及程度是否符合本

集团的策略目标及风险承受能力，主要目的是

合理地保证不会出现重大误述或损失，而非绝

对地消除未能达成业务目标的风险。

董事会确认其负责建立及维持本集团风险管

理及内部监控系统并检讨其成效。风险管理及

内部监控措施旨在管理而非消除未能实现业

务目标的风险，且仅可合理而非绝对地保证不

会出现重大失实陈述或损失。

RESPECTIVE RESPONSIBILITIES OF DIRECTORS

AND EXTERNAL AUDITORS

The Directors are responsible for the preparation of the Financial

Statements, which give a true and fair view of the state of afairs,

results and cash flows of the Group in acordance with relevant law

and disclosure requirements under the GEM Listing Rules.

The statement of the auditors of the Company about its

reporting responsibilities on the Financial Statements is set out in

“Independent Auditors’ Report” section on pages 152 and 162 of

this report.

AUDITORS’ REMUNERATION

The remuneration in respect of audit services provided by the

Company’s auditor, during the year ended 31 March 2025

amounted to HK$0.65 milion.

RISK MANAGEMENT ANS INTERNAL CONTROL

The Board has overal responsibilities for the Group’s risk

management and internal control systems to safeguard the

interests of the Company and its shareholders as a whole. To

this end, the Board overses and aproves the Group’s risk

management and internal control strategies and policies, which

are aimed at evaluating and determining the nature and extent of

the risks that are compatible with the Group’s strategic objectives

and risk apetite, with main purpose for provision of reasonable

asurance against material mistatement or los rather than

absolute elimination of the risk of failure to achieve busines

objectives.

The Board acknowledges that it is responsible for establishing

and maintaining the Group’s risk management and internal control

systems and reviewing their efectivenes. The risk management

and internal control measures are designed to manage rather than

eliminate the risk of failure to achieve busines objectives, and

can only provide reasonable and not absolute asurance against

material mistatement or los.

进业控股有限公司

2024/2025

年报

CORPORATE GOVERNANCE REPORT

企业管治报告

于二零一六年六月，本集团已建立了一个风险

管理框架，其中包括董事会、审核委员会、风

险管理委员会及本集团之高层管理人员。董事

会厘定在实现本集团的策略目标时应承担之

风险的性质及程度，并承担监督风险管理及内

部监控系统的设计、实施及整体有效性之整体

责任。董事会透过审核委员会至少每年一次检

讨该等系统的有效性，其中涵盖所有重大控制

措施，包括财务、营运及合规监控。

风险管理念

风险承担对本公司业务而言属必要及可接受。

有效的管理风险可维持竞争力，亦是通过实施

良好商业惯例来确保本公司实现其战略、经营

及管治目标，保障公司声誉、价值及诚信，从

而创造股东价值的不可或缺部分。风险管理涵

盖本公司业务的所有方面，是制定战略计划、

编制经营计划及预算、完成具体项目审批申请

及制定与管理项目规划时至关重要的一环。

风险管理流程

除董事会的监管责任外，本公司亦已制定风险

管理流程以识别、评估及管理重大风险，解决

重大内部监控缺陷（如有）。高级管理层负责

进行年度风险申报。对风险进行汇总、评级并

记录缓解计划。高级管理层若干成员负责审阅

风险评估结果，然后提呈有关结果予风险管理

委员会及董事会以供审阅。董事会及高级管理

层根据

(i)

风险对本公司财务业绩影响的严重程

度；及

(i)

风险发生的可能性对风险进行评估。

In June 2016, the Group has established a risk management

framework, which consists of the Board, the Audit Comite,

Risk Management Comite and the senior management of the

Group. The Board determines the nature and the extent of risks

that shal be taken in achieving the Group’s strategic objectives

and has the overal responsibilities for monitoring the design,

implementation and the overal efectivenes of risk management

and internal control systems. The Board, through the Audit

Comite, conducts reviews of the efectivenes of such systems

at least anualy, covering al material controls including financial,

operational and compliance controls.

Risk Management Philosophy

Risk taking is a necesary and acepted part of the Company’s

busines. Efectively managing risk is a competitive necesity

and an integral part of creating shareholder value through god

busines practices designed to ensure that the Company achieves

its strategic, busines and governance objectives, and protects

its corporate reputation, values and integrity. Risk management

aplies to al aspects of the Company’s busines and forms a

critical part of developing strategic plans, preparing operational

plans and budgets, completing detailed project aproval requests

and designing and managing project plans.

Risk Management Proces

In adition to the Board’s oversight responsibilities, the Company

has developed a risk management proces to identify, evaluate

and manage significant risks and to resolve material internal control

defects (if any). Senior management is responsible for the anual

risk reporting proces. Risks are compiled, ratings are asigned

and mitigation plans are documented. The risk asesment

is reviewed by certain members of senior management and

presented to the Risk Management Comite and the Board

for their review. Risks are evaluated by the Board and senior

management based on (i) the severity of the impact of the risk on

the Company’s financial results; and (i) the probability that the risk

wil ocur.

TSUN YIP HOLDINGS LIMITED

ANUAL REPORT 2024/2025 66

CORPORATE GOVERNANCE REPORT

企业管治报告

本公司将根据风险评估结果按以下方式管理

风险：

•

排除风险－高级管理层可确认并实施若干

变动或控制，完全排除风险。

•

减低风险水平－高级管理层可实施设定之

风险缓解计划，将风险可能性、速度或严

重性降至可接受水平。

•

维持风险水平－高级管理层可确定基于风

险评级属低，对本公司属可接受，毋须采

取措施。根据风险管理计划，将继续监督

风险，确保风险水平不会上升至不可接受

的水平。

申报、监察及评估乃风险管理不可或缺的关键

部分。高级管理层已制定年度风险申报流程以

收集影响本公司的风险事宜，亦已制定风险管

理文档以协助识别、记录、评估及管理风险。

审阅风险管理及内部监控系统的有效性

风险管理委员会于本年度至少举行一次会议，

并就评估向董事会汇报。风险管理委员会已识

别出关键风险，并将其应对纾缓监控记录在风

险名册，以及汇报予董事会。

本集团并无内部审核功能，原因是董事会已检

讨本公司内部监控系统之效用，目前认为根据

本集团业务的规模、性质及复杂性，毋须即时

于本集团内设立内部审核功能。该情况将不时

进行检讨。

Based on the risk evaluation, the Company wil manage the risks as

folows:

– senior management may identify and

implement certain changes or controls that in efect eliminate

the risk entirely.

– senior management may implement a risk

mitigation plan designed to reduce the likelihod, velocity or

the severity of the risk to an aceptable level.

– senior management may decide that the

risk rating is low enough that the risk is aceptable for the

Company and that no action is required. The risk would

continue to be monitored as part of the risk management

program to ensure the level of risk does not increase to an

unaceptable level.

Reporting, monitoring and evaluating are esential and integral

parts of managing risk. Senior management has established an

anual risk reporting proces to gather risk isues afecting the

Company. A risk template has ben developed to asist in the

identification, documentation, asesment and management of risk

exposures.

Review the efectivenes of the risk management and

internal control system

The Risk Management Comite met at least anualy during

the year and reported to the Board for asesment. Key risks are

identified and their responsive mitigating controls are documented

in the risk registers and report to the Bard by the Risk Management

Comite.

The Group does not have an internal audit function as the Board

has reviewed the efectivenes of the internal control system of the

Company and is curently of the view that there is no imediate

ned to set up an internal audit function within the Group in light

of the size, nature and complexity of the Group’s busines. The

situation wil be reviewed from time to time.

进业控股有限公司

2024/2025

年报

CORPORATE GOVERNANCE REPORT

企业管治报告

董事会已聘请泓富企业咨询服务有限公司为

其风险管理及内部监控审核顾问（「顾问」），对

截至二零二五年三月三十一日止年度的风险

管理及内部监控系统进行年度审阅。该审阅每

年进行一次，审阅周期乃轮流进行。审核范围

先前已经董事会确定及批准。顾问已向审核委

员会及管理层报告调查结果及需要改进的地

方。董事会／审核委员会认为，并不存在重大

内部控制缺陷。顾问提出的所有推荐建议均由

本集团妥善跟进，以确保其于合理时间内得到

落实。因此，董事会认为风险管理及内部监控

系统有效且充分。

内幕消息政策

本公司深知贯彻作出公平披露非常重要，目标

是适时及准确地披露内幕消息。本公司有政策

订明处理及散发本公司内幕消息的原则及程

序，符合香港法例第

章证券及期货条例第

XIVA

部及

GEM

上市规则的规定，及本集团的相

关高级行政人员已获知会相关政策。公司秘书

与高级行政人员紧密合作，识别潜在内幕消息

及评估其重要性，并在适当情况下将相关资料

上报董事会知悉，从而决定进一步行动，以符

合适用的法律规章。

The Board has engaged Redford Busines Advisory Services

Limited as its risk management and internal control review

adviser (“the Adviser”) to conduct the anual review of the risk

management and internal control systems for the year ended

31 March 2025. Such review is conducted anualy and cycles

reviewed are under rotation basis. The scope of review was

previously determined and aproved by the Board. The Adviser

has reported findings and areas for improvement to the Audit

Comite and management. The Board/Audit Comite are of

the view that there are no material internal control defeats noted.

Al recomendations from the Adviser are properly folowed

up by the Group to ensure that they are implemented within a

reasonable period of time. The Board therefore considered that the

risk management and internal control systems are efective and

adequate.

Inside information policy

The Company recognises the significance of consistent practices

of fair disclosure with the aim of disclosing inside information in a

timely and acurate maner. The Company has a policy with regard

to the principles and procedures for handling and diseminating the

Company’s inside information in compliance with the requirements

under Part XIVA of the Securities and Futures Ordinance (Cap 571

of the laws of Hong Kong) and the GEM Listing Rules, and such

policy has ben comunicated to the relevant senior executives

of the Group. Company Secretary works closely with senior

executives in identifying potential inside information and ases

the materiality thereof, and where apropriate, to escalate such

information for the atention of the Board to resolve on further

action(s) complying with the aplicable laws and regulations.

TSUN YIP HOLDINGS LIMITED

ANUAL REPORT 2024/2025 68

CORPORATE GOVERNANCE REPORT

企业管治报告

为防止过早泄露内幕消息，本公司不时采取一

切合理措施确保向公众披露内幕消息前，内幕

消息的保密性获适当维护，措施包括：

•

只限有需要知情的雇员查阅内幕消息。拥

有内幕消息的雇员完全熟知彼等的保密

义务；

•

进行任何重大商议时，订有适当的保密协

议；

•

雇员操守则订明严格禁止未经授权使

用或披露内幕消息；及

•

每年向全部雇员发出政策，提醒雇员买卖

本公司、其附属公司及相联法团的上市证

券时的义务及责任。

公司秘书

陈俊杰先生，

岁，于二零二四年五月二十三

日加入本集团，担任公司秘书及首席财务官。

陈先生为香港会计师公会员。彼亦为公司治

理师及特许公司秘书以及香港公司治理公会

会员。彼于香港理工大学毕业，取得公司管治

硕士学位以及会计学士学位。

In prevention of premature leakage of inside information, the

Company has taken al reasonable measures from time to time to

ensure proper preservation of confidentiality of inside information

until disclosure to the general public, including inter alia:

• restrictive aces to inside information to a limited number of

employes on a ned-to-know basis. Employes who are in

posesion of inside information are fuly conversant with their

obligations to preserve confidentialy;

• apropriate confidentiality agrements are put in place when

entering into any significant negotiations;

• inclusion of a strict prohibition on the unauthorised use or

disclosure of inside information in employe code of conduct;

and

• policy is isued to al employes anualy reminding their

duties and obligations in respect of any dealings in the listed

securities of the Company as wel as its subsidiaries and

asociated corporations.

COMPANY SECRETARY

Mr. Chan Chun Kit

（陈俊杰）

, aged 42, joined the Group as

Company Secretary and Chief Financial Oficer on 23 May 2024.

Mr. Chan is a member of the Hong Kong Institute of Certified Public

Acountants. He is also a Chartered Governance Profesional and

Chartered Company Secretary, as wel as a member of The Hong

Kong Chartered Governance Institute. He graduated from the Hong

Kong Polytechnic University with a Master’s Degre in Corporate

Governance and a Bachelor Degre in Acountancy.

进业控股有限公司

2024/2025

年报

CORPORATE GOVERNANCE REPORT

企业管治报告

二零一八年以来，陈先生曾担任若干香港、中

华人民共和国及海外上市公司及私人公司的

企业财务顾问。彼过去曾为两间新加坡证券交

易所（「新交所」）主机板上市公司担任财务总监

职务九年。于二零一年至二零二零年期间，

彼担任振鹏达中华食品工业集团有限公司的

财务总监（二零二零年）及中国软包装控股有限

公司之财务总监兼公司秘书（二零一年至二

零一八年）。于担任该等职务及职位前，于二零

零七年至二零一年，彼曾于一间国际会计事

务所香港立信德豪会计师事务所有限公司担

任核数师。

陈先生亦曾担任多家香港或海外上市公司的

独立董事。在过去三年内，陈先生曾担任若

干上市公司的独立非执行董事，包括

(i)

于二零

二四年三月至五月任职于聚利宝控股有限公司

（于香港联合交易所有限公司（「港交所」）上市

之公司，股份代号：

8527.HK

）；

(i)

于二零一九

年至二零二年任职于

GS Holdings Limited

（一

间于新交所上市之公司，股份代号：

43A.SI

）；

及

(i)

于二零一七年至二零二年任职于环球

印馆控股有限公司（于港交所上市之公司，股

份代号：

8448.HK

）。除上述者外，在过去三年

内，陈先生并无于任何上市公众公司担任何

董事职务。

公司秘书于截至二零二五年三月三十一日止

年度已完成超过

小时的专业培训。公司秘书

乃向主席及行政总裁汇报，于制定适合的董事

会程序以配合本公司业务需要并符合一切适

用法律、规则及规例方面担任重要的角色。董

事于有需要时可就企业管治、适用法律及规例

之任何最新消息及发展，向公司秘书取得意见

和服务。

Mr. Chan has served as a corporate financial consultant for various

Hong Kong, the People’s Republic of China and overseas listed

and private companies since 2018. In the past, he had held

chief finance in-charge positions in two listed companies on the

Mainboard of Singapore Stock Exchange (“SGX-ST”) for 9 years.

Betwen 2011 to 2020, he has ben the chief financial oficer

at Sino Grandnes Fod Industry Group Limited (2020), and

Chief Financial Oficer and company secretary at China Flexible

Packaging Holdings Limited (betwen 2011 to 2018). Prior to these

roles and positions, he had worked at an international audit firm,

BDO Limited in Hong Kong from 2007 to 2011 as an auditor.

Mr. Chan had also served as an independent director at a number

of public companies listed in Hong Kong or overseas. In the past

3 years, Mr. Chan had previously served as an independent non-

executive director for various listed companies including (i) Jlogo

Holdings Limited (listed on the Hong Kong Stock Exchange

Limited (“SEHK”); code: 8527.HK) from March to May 2024; (i) GS

Holdings Limited (listed on SGX-ST; code: 43A.SI) from 2019 to

2022; and (i) Universe Printshop Holdings Limited (listed on the

SEHK; code: 8448.HK) from 2017 to 2022. Apart from above, Mr.

Chan held no directorships in any listed public companies in the last

thre years.

The company secretary tok more than 15 hours’ profesional

training for the year ended 31 March 2025. Reporting to the

chairman and chief executive oficer, the company secretary

plays an important role in ensuring proper Board procedures are

tailored to the Company’s busines neds and compliance with al

aplicable laws, rule and regulations. The Directors could obtain

advices and services from the company secretary for any updates

and developments in corporate governance, aplicable laws and

regulations when necesary.

TSUN YIP HOLDINGS LIMITED

ANUAL REPORT 2024/2025 70

CORPORATE GOVERNANCE REPORT

企业管治报告

公司秘书（按主席授权）负责编制会议程，

于定期会议召开至少

日前（或就其他特别会

议而言之合理时间）向董事会发出会议通知，

并于相关会议举行前至少三日向董事提供相

关董事会文件，以确保董事及时收到足够、准

确、清晰、完备及可靠的资料，以作出有效及

有根据的决策。

公司秘书亦确保董事会议一直根据所有适

用法律、规例及组织章程细则所载的程序规定

来召开及举行。此外，公司秘书会作相关会议

记录并于会后一个合理时间内将其向董事传

阅以供表达意见。综合董事之意见后，经签署

的会议记录将由公司秘书保存并于正常营业

时间内供董事查阅。

股东权利

董事会相信，股东大会可提供一个公开平台让

董事会及股东进行沟通。欢迎股东出席本公司

股东大会，透过此直接的沟通平台给予本公司

宝贵意见。本公司每年召开股东周年大会，并

于有需要时召开任何其他股东特别大会（「股东

特别大会」）。

The company secretary, as delegated by the Chairman, is

responsible for preparing the meting agenda, serving notice to

the Board at least 14 days before the regular metings or at a

reasonable time for other ad-hoc metings, and providing relevant

Board papers to Directors at least 3 days before the metings, so

as to ensure that the Directors receive adequate, acurate, clear,

complete and reliable information in a timely maner for efective

and informed decision making.

The company secretary also ensures that the Board metings are

convened and constituted in acordance with al aplicable laws,

regulations and the procedural requirements set out in the articles

of asociation at al times. In adition, the company secretary

wil take minutes of the metings and circulate them to Directors

for coments at a reasonable time after the metings. After

incorporating Directors’ coments, the executed version of the

minutes wil be maintained by the company secretary and be open

for Directors’ inspection during normal ofice hours.

SHAREHOLDERS’ RIGHTS

The Board believes that general metings can provide an

open forum for comunication betwen the Board and the

Shareholders. Shareholders are encouraged to atend general

metings of the Company and give valuable advices to the

Company through this direct comunication platform. The

Company wil convene AGM every year and convene any other

extraordinary general meting (“EGM”) as required.

进业控股有限公司

2024/2025

年报

CORPORATE GOVERNANCE REPORT

企业管治报告

股东召开股东特别大会的方法

任何一名或多名股东于提交召开股东特

别大会要求时持有已发行股本

10%

或以上

并于股东大会上持有投票权，可以书面要

求召开股东特别大会。

书面要求必须注明会议目的，由有关股东

签署后交回本公司主要营业地点新界粉

岭安全街

号海迅中心

座

楼

及

室，

指定由董事会或公司秘书接收。如附有多

份形式类似的文件，则须由一名或多名股

东于每份文件上签署。要求将由本公司股

份过户登记处核实，经确认要求为正式及

符合程序后，公司秘书将通知董事会召开

股东特别大会并将有关决议案加入议程。

董事会须于接获该要求后两个月内召开

及举行有关股东大会。倘要求被确认为不

符合程序，有关股东将获告知结果，而本

公司将不会召开股东特别大会。

倘于提交要求后二十一日内，董事会未能

召开有关股东大会，股东或占全体该等股

东所持投票权总数一半以上的任何人士，

可亲自召开股东特别大会，惟任何在此情

况下召开的股东特别大会不得于上述日

期起计三个月届满后举行。

1. The way in which Shareholders can convene an EGM

Any one or more Shareholders holding not les than 10% of

the isued share capital at the time of deposit of the requisition

and carying the right of voting at general meting can deposit

a writen request to convene an EGM.

The writen request must state the purposes of the meting,

signed by the Shareholders concerned and deposited to the

Board or the company secretary at the Company’s principal

place of busines at Unit M & N, 8/F, Hi-Sped Centre 1, 18

On Chuen Stret, Fanling, New Teritories, and may consist

of several documents in like form each signed by one or

more Shareholders. The request wil be verified with the

Company’s share registrar and upon its confirmation that

the request is proper and in order, the company secretary

wil notify the Board to convene an EGM and include the

resolution in the agenda. The Board shal convene and hold

such general meting within two months after the deposit of

such requisition. If the request is verified to be not in order,

Shareholders concerned wil be advised of the result and no

EGM wil be convened.

If within twenty-one days of such deposit, the Board fails to

proced to convene such general meting, the Shareholders

or any of them representing more than one-half of the total

voting rights of al of them, may themselves convene an EGM,

but any EGM so convened shal not be held after the expiration

of thre months from the said date.

TSUN YIP HOLDINGS LIMITED

ANUAL REPORT 2024/2025 72

CORPORATE GOVERNANCE REPORT

企业管治报告

向董事会提交查询的程序

股东如欲向董事会提出任何查询，可致

函联络本公司投资者关系部（地址为新

界粉岭安全街

号海迅中心

座

楼

及

室）、致电

+852 2358 2888

或发送电邮至

ir@tsunyip.hk

。

于股东大会上提呈动议的程序

股东如欲于股东大会上提呈动议，应将列

明有关动议并附有详细联络资料的书面

通知提交本公司主要营业地点，指定由公

司秘书接收。要求将由本公司股份过户登

记处核实，经确认要求为正式及符合程序

后，公司秘书将要求董事会将有关决议案

加入股东大会议程。

与股东之沟通

董事会相信，定期及适时与股东沟通为本

集团致力协助股东了解本集团业务之其

中一环。本公司根据法定及监管规定向股

东及于本公司邮寄名单中记录之有意人

士寄发本公司年报及中期报告。本公司之

刊物，包括财务报告、通函及公布亦于本

公司网站可供查阅。

2. The procedures for sending enquiries to the Board

Shareholders who wish to raise any queries with the Board

may write to the Company’s investor relationship contact at

Unit M & N, 8/F, Hi-Sped Centre 1, 18 On Chuen Stret,

Fanling, New Teritories, by phone on +852 2358 2888 or by

email at ir@tsunyip.hk.

3. The procedures for making proposals at Shareholders’

metings

To put forward proposals at Shareholders’ metings, the

Shareholders shal submit a writen notice of those proposals

with the detail contact information to the company secretary

at the Company’s principal place of busines. The request

wil be verified with the Company’s share registrar and upon

its confirmation that the request is proper and in order, the

company secretary wil ask the Board to include the resolution

in the agenda for the general meting.

4. Comunications with Shareholders

The Board believes regular and timely comunication with

shareholders forms part of the Group’s efort to help our

shareholders understand our busines beter. Copies of

the anual reports and interim reports of the Company are

distributed to its shareholders in acordance with statutory

and regulatory requirements and also to interested parties

recorded in the Company’s mailing lists. The publications

of the Company, including financial reports, circulars and

anouncements, are also available on the Company’s

website.

进业控股有限公司

2024/2025

年报

CORPORATE GOVERNANCE REPORT

企业管治报告

本公司明白股东大会为与股东沟通之良

好渠道。于股东大会，将以独立决议案方

式考虑各重大个别事项，包括选举个别董

事，本公司亦将清楚解释按股数投票表决

之程序。守则第

C.1.6

段规定独立非执行董

事及非执行董事通常须出席股东大会以

全面理解股东的意见。一名执行董事（即

简臻廷先生）因事先安排之商务活动而未

能出席本公司于二零二四年九月二十六

日举行之股东周年大会。其他董事会成员

及相关董事委员会主席亦有出席股东周

年大会，与股东面对面交流，并回答股东

之提问。当时的非执行董事（即唐丽女士）

因事先安排之商务活动而未能出席本公

司于二零二四年四月八日举行之股东特

别大会。其他董事会成员及相关董事委员

会主席亦出席股东特别大会，与股东面对

面交流，并回答股东之提问。

董事出席本公司股东大会之情况载于本

报告第

页。

The Company acknowledges that general metings are god

comunication chanel with the shareholders. At the general

meting, each substantialy separate isue is considered by a

separate resolution, including election of individual directors,

and the pol procedures are clearly explained. Paragraph C.1.6

of the Code requires that independent non-executive directors

and non-executive directors shal generaly atend general

metings to gain and develop a balanced understanding of

the views of shareholders. An executive Director, namely Mr.

Kan Chun Ting Max, did not atend the anual general meting

of the Company held on 26 September 2024 due to pre-

aranged busines engagements. Other Board members and

the chairmen of the relevant Board comites also atended

the anual general meting to inter-face with, and answer

questions from the Shareholders. The then non-executive

Director, namely Ms. Tang Li, did not atend the extraordinary

general meting of the Company held on 8 April 2024 due to

pre-aranged busines engagements. Other Board members

and the chairmen of the relevant Board comites also

atended the extraordinary general meting to inter-face with,

and answer questions from the Shareholders.

The atendance of the Directors at the general metings of the

Company is set out on page 63 of this report.

TSUN YIP HOLDINGS LIMITED

ANUAL REPORT 2024/2025 74

CORPORATE GOVERNANCE REPORT

企业管治报告

投资者关系

本公司的公司网站为

w.tsunyip.hk

。本公司

可不时举行投资者╱分析师简介及汇报会、路

演、媒体访问、投资者市场活动及业内专业人

士论坛等。

所有于联交所网站

(w.hkexnews.hk)

刊登的

公司通讯资料须于公布后尽快上载至本公司

的公司网站。本公司的宪章文件亦于本公司

网站可供查阅。于二零二四年五月三十一日，

已于股东特别大会上批准透过采纳新经修订

及重列组织章程大纲及经修订及重列组织章

程细则作出建议修订，以取代及摒除本公司现

有组织章程大纲及细则。除此之外，截至二零

二五年三月三十一日止年度，该等文件并无重

大变动。本公司网站的资料将会定期更新。

董事会满意与股东沟通的实施检讨及成效，本

公司通过定期会议及适时更新本公司财务业

绩及发展情况，有效为投资者及股东提供双向

沟通平台。

INVESTOR RELATIONS

The Company’s corporate website is w.tsunyip.hk. The

Company may from time to time conduct investor/analysts

briefings and presentations, roadshows, media interviews,

marketing activities for investors and specialist industry forums etc.

Al corporate comunication materials published on the Stock

Exchange’s website (w.hkexnews.hk) are posted on the

Company’s corporate website as son as practicable after

their release. The Company’s constitutional documents are

also available on our website. On 31 May 2024, the proposed

amendments by way of adoption of a new amended and restated

memorandum of asociation and amended and restated articles of

asociation in substitution for and to the exclusion of, the existing

memorandum and articles of asociation of the Company was

aproved at the extraordinary general meting. Apart from this, no

significant changes were made to these documents during the year

ended 31 March 2025. Information on our website wil be updated

on a regular basis.

The Board was satisfied with the review of the implementation and

efectivenes of the comunication with the shareholders, which

could efectively provide a two-way comunication platform by the

Company with the investors and shareholders by way of regular

metings and timely update of the Company’s financial results and

developments.

进业控股有限公司

2024/2025

年报

DIRECTORS’ REPORT

董事会报告

董事欣然提呈本年报及截至二零二五年三月

三十一日止年度之财务报表。

主要业务

本公司为一间投资控股公司。其附属公司之主

要业务则为在香港为公营部门提供土木工程

服务。

业务回顾

对本集团业务活动之进一步讨论及分析（包括

本集团之业务回顾及本集团业务日后可能的

发展）可于本年报第

页至第

页载列的管理

层讨论及分析以及第

页至第

页载列的环

境、社会及管治报告内阅览。该讨论构成董事

会报告之一部分。有关本集团面对的主要风险

及不确定因素载于本年报内。

使用主要财务表现指标对本集团表现进行之

分析载于本年报第

页至第

页的五年财

务概要及第

页至第

页之财务摘要。

更改公司名称

根据于二零二四年五月三十一日的股东特别

大会上通过的特别决议案及开曼群岛公司注

册处长于二零二四年六月七日发出之更改

名称注册证书，本公司之英文名称及中文名称

已分别由「

CNC Holdings Limited

」更改为「

Tsun

Yip Holdings Limited

」以及由「中国新华电视控

股有限公司」更改为「进业控股有限公司」。

环境政策及表现

本集团致力支持环境的可持续发展。本集团致

力在日常业务营运中实施政策及措施，以减低

本集团对环境的影响。有关本集团采纳之环

境、社会及管治常规之详细资料载于本报告第

页至第

页之环境、社会及管治报告。

The Directors are pleased to present this anual report together

with the Financial Statements for the year ended 31 March 2025.

PRINCIPAL ACTIVITIES

The Company is an investment holding company. Its subsidiaries

are principaly engaged in the provision of civil enginering services

for the public sector in Hong Kong.

BUSINES REVIEW

Further discusion and analysis of busines activities of the Group,

including a busines review of the Group and an indication of

likely future developments in the Group’s busines, can be found

in the Management Discusion and Analysis set out on pages 18

to 34 and Environmental, Social and Governance Report set out

on pages 94 to 151 of this anual report. This discusion forms

part of this directors’ report. Description of the principal risks and

uncertainties facing the Group can be found throughout this anual

report.

An analysis of the Group’s performance using financial key

performance indicators is provided in the Five Year Financial

Sumary from pages 283 to 284 and Financial Highlights on

pages 3 to 4 respectively of this anual report.

CHANGE OF COMPANY NAME

Pursuant to a special resolution pased at the extraordinary

general meting on 31 May 2024 and the isue of the certificate of

incorporation on change of name by the Registrar of Companies

in Cayman Islands on 7 June 2024, the English name and the

Chinese name of the Company have ben changed from “CNC

Holdings Limited” to “Tsun Yip Holdings Limited” and “

中国新华电

视控股有限公司

” to “

进业控股有限公司

”, respectively.

ENVIRONMENTAL POLICIES AND PERFORMANCE

The Group is comited to suporting the environmental

sustainability. The Group is comited to implementing policies

and measures in our daily busines operations to foster reduction

of the Group’s environmental impact. Detail information regarding

the environmental, social and governance practices adopted by the

Group are set out in the ESG Report on pages 94 to 151 of this

report.

TSUN YIP HOLDINGS LIMITED

ANUAL REPORT 2024/2025 76

DIRECTORS’ REPORT

董事会报告

遵守相关法律及法规

于本年度，就本公司所知，本集团并无严重违

反或不遵守适用法律及法规，致使对本集团之

业务及营运造成重大影响。

与雇员的关系

本集团雇员是本集团最重要的资产和持份者

之一，本集团一直珍视彼等的贡献和支持。本

集团根据行业基准及雇员个人表现定期检讨

薪酬及福利政策。本集团亦提供其他附带福

利、强制性公积金、购股权及股份奖励计划以

挽留忠诚雇员，务求构建专业的员工及管理团

队，推动本集团再创佳绩。

股息政策

本公司已采纳股息政策，旨在为本公司股东提

供合理稳定的可持续回报。于考虑宣派及派付

股息时，董事会将考虑（其中包括）我们的经营

业绩、营运资金需求、现金流量及财务状况、

流动资金状况、债务权益比率、整体经济环境

及董事会认为适当的其他因素。本公司必须根

据相关法律、规则、法规及受限于本公司组织

章程细则项下制定股息派发、形式、频率及金

额。

业绩及股息

本集团截至二零二五年三月三十一日止年度

之业绩载于本报告第

页至第

页之综合

损益及其他全面收益表。

董事会不建议就截至二零二五年三月三十一

日止年度派发末期股息。

COMPLIANCE WITH RELEVANT LAWS AND

REGULATIONS

During the year, as far as the Company is aware, there was no

material breach of or non-compliance with aplicable laws and

regulations by the Group that has a significant impact on the

busines and operations of the Group.

RELATIONSHIPS WITH EMPLOYES

The employes of the Group are one of the most important asets

and stakeholders of the Group and their contribution and suport

are values at al times. The Group regularly reviews compensation

and benefits policies acordingly to industry benchmark as wel

as the individual performance of employes. Other fringe benefits,

mandatory provident fund, share options and share award scheme

are provided to retain loyal employes with the aim to form a

profesional staf and management team that can bring the Group

to diferent levels of suces.

DIVIDEND POLICY

The Company has adopted a dividend policy which aims to provide

reasonably stable and sustainable returns to the shareholders of

the Company. When considering the declaration and payment of

dividends, the Board shal take into acount, inter alia, our results of

operation, the working capital requirements, cash flow and financial

position, liquidity position, debt to equity ratio, general economic

environments and other factors the Board considers apropriate.

The declaration, form, frequency and amount of any dividend

payout of the Company must be in acordance with relevant laws,

rules and regulations and subject to the Articles of Asociation of

the Company.

RESULTS AND DIVIDENDS

The Group’s results for the year ended 31 March 2025 are set

out in the consolidated statement of profit or los and other

comprehensive income on pages 163 to 164 of this report.

The Board does not recomend the payment of a final dividend for

the year ended 31 March 2025.

进业控股有限公司

2024/2025

年报

DIRECTORS’ REPORT

董事会报告

暂停办理股东登记手续

厘定有权出席股东周年大会并于会上投票

之股东身份的记录日期为二零二五年九月

二十五日（星期四）。本公司将由二零二五年九

月二十二日（星期一）至二零二五年九月二十五

日（星期四）（包括首尾两天）暂停办理本公司

股东登记手续，期间将不会办理股份过户登记

手续。为出席股东周年大会并于会上投票，所

有股份过户文件连同有关股票最迟须于二零

二五年九月十九日（星期五）下午四时三十分之

前交回本公司股份过户登记处卓佳证券登记

有限公司，地址为香港湾仔夏悫道

号远东金

融中心

楼。

物业、厂房及设备

本集团于本年度之物业、厂房及设备变动详情

载于财务报表附注

。

股本

本公司于本年度之股本变动详情载于财务报

表附注

。

储备

本集团及本公司于本年度之储备变动载于本

报告第

页之综合权益变动表及财务报表附

注

。

捐献

截至二零二五年三月三十一日止年度，本集团

并无作出任何慈善捐献。

可分派储备

于二零二五年三月三十一日，本公司根据开曼

群岛公司法（第

章）（一九六一年法例

，经综

合及修订）计算之可分派储备（包括股份溢价

账）为约

23,500,000

港元。

CLOSURE OF REGISTER OF MEMBERS

The record date for ascertaining shareholders’ entitlement to atend

and vote at the AGM wil be Thursday, 25 September 2025. The

22 September 2025 to Thursday, 25 September 2025, both days

inclusive. During this period, no transfer of Shares wil be registered.

In order to atend and vote at the AGM, al transfers of Shares

acompanied by the relevant share certificates must be lodged with

the Company’s Share Registrar, Tricor Investor Services Limited, at

17/F, Far East Finance Centre, 16 Harcourt Road, Wanchai, Hong

Kong not later than 4:30 p.m. on Friday, 19 September 2025.

PROPERTY, PLANT AND EQUIPMENT

Details of the movements in property, plant and equipment of

the Group during the year are set out in note 18 to the Financial

Statements.

SHARE CAPITAL

Details of the movements in the Company’s share capital during the

year are set out in note 30 to the Financial Statements.

RESERVES

Movements in reserves of the Group and the Company during the

year are set out in the consolidated statement of changes in equity

on page 167 of this report and note 41 to the Financial Statements.

DONATIONS

During the year ended 31 March 2025, the Group did not make any

charitable donations.

DISTRIBUTABLE RESERVES

As at 31 March 2025, the Company’s distributable reserves,

including the share premium acount, calculated under the

Companies Law, Cap 22 (Law 3 of 1961, as consolidated and

revised) of the Cayman Islands, amounted to aproximately

HK$23.5 milion.

TSUN YIP HOLDINGS LIMITED

ANUAL REPORT 2024/2025 78

DIRECTORS’ REPORT

董事会报告

可换股票据

本集团之可换股票据详情载于财务报表附注

。

财务概要

本集团于过往五个财政年度的业绩及财务状

况概要载于本报告第

页至第

页。

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

之收益、分包成本及原材料采购应占本集团主

要客户、分包商及供应商的百分比分别如下：

于本年度，概无董事、彼等之联系人或就董事

所知拥有本公司已发行股本

以上之任何股

东于本集团任何五大客户、分包商及供应商中

拥有任何权益。

附注：

本集团原材料采购总额包括主承建商就各合约为本集

团采购作为分包商进行水务工程服务而用的原材料。然

而，主承建商采购原材料的供应商并不纳入本集团之供

应商，原因是本集团与该等供应商并无直接关系。

CONVERTIBLE NOTES

Details of the convertible notes of the Group are set out in note 28

to the Financial Statements.

FINANCIAL SUMARY

A sumary of the Group’s results and financial position for the last

five financial years is set out on pages 283 to 284 of this report.

MAJOR CUSTOMERS AND SUPLIERS

The percentage of the Group’s revenue, subcontracting costs

and purchases of raw materials atributable to the Group’s major

customers, subcontractors and supliers respectively for the year

ended 31 March 2025 is as folows:

Revenue

收益

The largest customer

最大客户

29.7%

Five largest customers in agregate

五大客户合占

88.7%

Subcontracting costs

分包成本

The largest subcontractor

最大分包商

15.9%

Five largest subcontractors in agregate

五大分包商合占

53.0%

Purchases of raw materials (Notes)

采购原材料（附注）

The largest suplier

最大供应商

30.0%

Five largest supliers in agregate

五大供应商合占

71.2%

During the year, none of the Directors, their asociates or any

Shareholders (which to the knowledge of the Directors owns more

than 5% of the Company’s isued share capital) had any interest

in any of the Group’s five largest customers, subcontractors and

supliers.

Notes:

Total purchases of raw materials by the Group included purchases of raw

materials by main contractors for the Group’s use in carying out waterworks

enginering services as a subcontractor for respective contracts. However,

the supliers from which main contractors purchased the raw materials were

not included as the supliers of the Group as the Group did not have direct

relationship with these supliers.

进业控股有限公司

2024/2025

年报

DIRECTORS’ REPORT

董事会报告

附属公司

本公司附属公司于二零二五年三月三十一日

的详情载于财务报表附注

。

董事

于本年度内及直至本报告日期任职的董事

包括：

执行董事

简国祥先生（主席）

（于二零二四年四月十六日调任为主席）

许嘉骏先生（行政总裁）

（于二零二四年四月十六日获委任）

简臻廷先生（于二零二四年四月十六日获委任）

姜岩博士（于二零二四年四月十六日辞任）

李永升博士（于二零二四年四月十六日辞任）

刘大勇先生（于二零二四年四月十六日辞任）

非执行董事

林舜娇女士（于二零二四年十一月二十九日获委任）

罗焯雄先生（于二零二四年十一月二十九日辞任）

唐丽女士（于二零二四年四月十六日辞任）

独立非执行董事

钱志浩先生

王忠业先生（于二零二四年四月十六日获委任）

黎雅明先生（于二零二四年四月十六日获委任）

吴国铭先生（于二零二四年四月十六日辞任）

尹志强先生，

铜紫荆星章，太平绅士

（于二零二四年

四月十六日辞任）

郭文韬先生（于二零二四年十一月二十九日辞任）

SUBSIDIARIES

Details of the Company’s subsidiaries as at 31 March 2025 are set

out in note 38 to the Financial Statements.

DIRECTORS

The Directors who held ofice during the year and up to the date of

this report are:

Executive Directors

Mr. Kan Kwok Cheung (Chairman)

(Redesignated as Chairman on 16 April 2024)

Mr. Hui Ka Tsun (Chief Executive Oficer)

(Apointed on 16 April 2024)

Mr. Kan Chun Ting Max (Apointed on 16 April 2024)

Dr. Jiang Yan (Resigned on 16 April 2024)

Dr. Li Yong Sheng (Resigned on 16 April 2024)

Mr. Liu Da Yong (Resigned on 16 April 2024)

Non-Executive Directors

Ms. Lam Shun Kiu Rosita (Apointed on 29 November 2024)

Mr. Law Cheuk Hung (Resigned on 29 November 2024)

Ms. Tang Li (Resigned on 16 April 2024)

Independent Non-Executive Directors

Mr. Chin Chi Ho Stanley

Mr. Wong Chung Yip Keneth (Apointed on 16 April 2024)

Mr. Lai Ah Ming Leon (Apointed on 16 April 2024)

Mr. Wu Guo Ming (Resigned on 16 April 2024)

Mr. Wan Chi Keung Aaron, BS, JP (Resigned on 16 April 2024)

Mr. Kwok Man To Paul (Resigned on 29 November 2024)

TSUN YIP HOLDINGS LIMITED

ANUAL REPORT 2024/2025 80

DIRECTORS’ REPORT

董事会报告

董事资料变动

于本公司截至二零二四年九月三十日止六个

月之中期报告日期后，根据

GEM

上市规则第

17.50A(1)

条须予披露之董事资料变动如下：

独立非执行董事之独立身份确认

本公司已接获各独立非执行董事根据

GEM

上

市规则第

5.09

条就其独立身份所发出的年度确

认书。本公司认为，所有独立非执行董事均为

独立人士。

获准许之弥偿保证条文

本公司之组织章程细则规定，全体董事及本公

司管理人员，均可从本公司的资产及利润获得

弥偿，该等人士就各自的职务或执行其职责时

因所作出、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，

可获确保免就此受任何损害。

CHANGES IN DIRECTORS’ INFORMATION

Subsequent to the date of the interim report for the six months

ended 30 September 2024 of the Company, the changes in the

Directors’ information as required to be disclosed pursuant to Rule

17.50A(1) of the GEM Listing Rules are set out below:

Name of Director(s)Details of Changes

董事姓名变动详情

Mr. Chin Chi Ho StanleyMr. Chin’s anual director fe has ben revised to HK$180,000 with efect

from 1 April 2025.

钱志浩先生钱先生的年度董事袍金已修订为

180,000

港元，自二零二五年四月一日起

生效。

Mr. Wong Chung Yip KenethMr. Wong’s anual director fe has ben revised to HK$180,000 with efect

from 1 April 2025.

王忠业先生王先生的年度董事袍金已修订为

180,000

港元，自二零二五年四月一日起

生效。

Mr. Lai Ah Ming LeonMr. Lai’s anual director fe has ben revised to HK$180,000 with efect from

1 April 2025.

黎雅明先生黎先生的年度董事袍金已修订为

180,000

港元，自二零二五年四月一日起

生效。

INDEPENDENCE CONFIRMATIONS OF INDEPENDENT

NON-EXECUTIVE DIRECTORS

The Company has received, from each of the independent non-

executive Directors, an anual confirmation of his independence

pursuant to Rule 5.09 of the GEM Listing Rules. The Company

considers al of the independent non-executive Directors are

independent.

PERMITED INDEMNITY PROVISIONS

The Company’s Articles of Asociation provide that al Directors and

oficers of the Company 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 shal or may incur or sustain by or by reason of any act done,

concured in or omited in or about the execution of their duty.

进业控股有限公司

2024/2025

年报

DIRECTORS’ REPORT

董事会报告

于过往保险保障于二零二零年届满后，本公司

自此并无就针对其董事的法律行动安排适当

保险保障。于二零二四年九月十六日，本公司

已就针对其董事的法律行动重新安排适当保

险保障。于本年度，概无向本公司董事及高级

行政人员提出任何索偿。

竞争权益

于本年度，概无董事因于该等业务占有权益，

而该等业务与本集团之业务直接或间接构成

竞争或可能构成竞争而须根据

GEM

上市规则

作出披露。

董事服务合约

各执行董事已与本公司订立服务合约，初步固

定年期为三年，直至初步任期结束时或其后任

何时间届满，除非任何一方发出不少于三

(3)

个

月之书面通知或任何一方支付相当于三

(3)

个月

薪金作代通知金予以终止，惟须根据细则于其

获委任后之首个股东周年大会上轮值退任及

膺选连任，其后须根据细则、

GEM

上市规则及

其他适用法例的规定最少每三年于股东周年

大会上轮值退任及膺选连任一次。

非执行董事获委任之指定任期为三年，于任期

结束时或其后任何时间届满，除非任何一方

发出不少于一

(1)

个月之书面通知予以终止，并

须根据细则于其获委任后之首个股东周年大

会上轮值退任及膺选连任，其后须根据细则、

GEM

上市规则及其他适用法例的规定最少每

三年于股东周年大会上轮值退任及膺选连任

一次。

Upon the expiry of the previous insurance cover in year 2020, the

Company did not arange apropriate insurance cover in respect

of legal action against its Directors since then. On 16 September

2024, the Company has rearanged an apropriate insurance

coverage in respect of legal action against its Directors. During the

year, no claim was made against the Directors and oficers of the

Company.

COMPETING INTEREST

During the year, no Director was interested in the busines which

competed or was likely to compete either directly or indirectly, with

the busines of the Group as required to be disclosed under the

GEM Listing Rules.

DIRECTORS’ SERVICE CONTRACTS