02217 谭仔国际 财务报表/环境、社会及管治资料：2024/25 年报

年报
2024/25 Annual Report
CO 目N 录TENTS
2 Five-Year Financial Summary
五 4 Ch 主 7 Ma年财务概 airman’s 席报告 nageme要 Statement nt Discussion and Analysis
管理层讨论及分析
17 Boa Ma 董 30 Cor 企rd of Di nageme 事会及高 porate 业管治报rectors and nt 级管理层 Governance 告Senior Report89 I 97 Cndependent 独立核数师 onsolidated 综合损益表Auditor 报告 Statem’s Report ent of Profit or Loss
98 ConsolidatedStatement of Profit or Loss
53 Rep 董ort of t 事会报告he Directorsa 99 Cnd Other C 综合损益及 onsolidated 综合财务状ompreh 其他全面 Statem 况表ensive Inco 收益表 ent of Finame ncial Position
101 ConsolidatedStatement of Changes inEquity
103 C 104 N综合权益变 onsolidated 综合现金流 otes to the 财务报表附动表 Cash 量表 Financi 注Flow Statem al Statemenent ts
183 Corporate In 公司资料formation
Year ended 31 March 截至三月三十一日止年度
20252024202320222021
二零二五年二零二四年二零二三年二零二二年二零二一年
HK$’000HK$’000HK$’000HK$’000HK$’000
千港元千港元千港元千港元千港元
Results业绩
Revenue收益2,842,6812,748,4062,594,6132,275,2981,794,693
Profit before taxation除税前溢利100,171151,992176,005245,067320,251
Profit for the year年度溢利79,843118,649140,953202,960287,792
Profit margin利润率2.8%4.3%5.4%8.9%16.0%
Per share data每股数据
Basic earnings基本盈利6.08.910.517.528.8
Diluted earnings摊薄盈利5.98.810.517.428.8
Annual dividend全年派息1.358.910.511.428.0
At 31 March 于三月三十一日
20252024202320222021
二零二五年二零二四年二零二三年二零二二年二零二一年
HK$’000HK$’000HK$’000HK$’000HK$’000
千港元千港元千港元千港元千港元
Assets and liabilities资产及负债
Non-current assets非流动资产1,115,9581,116,2911,161,0801,055,739851,563
Current assets流动资产1,511,4531,506,6331,513,9271,513,008553,419
Non-current liabilities非流动负债503,448491,145502,625443,050333,438
Current liabilities流动负债653,828646,278630,534572,330526,070
Capital and reserves资本及储备1,470,1351,485,5011,541,8481,553,367545,474
Key financial ratios主要财务比率
Current ratio流动比率2.32.32.42.61.1
Quick ratio速动比率2.32.32.42.61.0
Return on assets资产回报率3.0%4.5%5.4%10.2%23.1%
Return on equity权益回报率5.4%7.8%9.1%19.3%62.4%
Dividend payout派息比率22.7%100%100%65%97.2%

FIVE-YEAR FINANCIAL SUMARY

五年财务概要

Tam Jai International Co. Limited Anual Report 2024/25

谭仔国际有限公司 2024/25 年报

FIVE-YEAR FINANCIAL SUMARY

五年财务概要

2020/212021/22

2022/23

2023/24

2024/25

4.3%8.9

2020/212021/222022/232023/24

140,953

2024/25

118,649

2020/212021/222022/232023/242024/25

2020/212021/22

1,794,693

2022/23

2,275,298

2023/24

2,594,613

2024/25

2,748,406

Takeaway and delivery

(1)

(1)

Mainland China and overseas marketsDine-inHong Kong

REVENUE

HK$’000 千港元

收益

EARNINGS PER SHARE (Basic earnings)

HK cents 港仙

每股盈利（基本盈利）

INTERNATIONAL SELF-OPERATING

RESTAURANT NETWORK

Number of self-operating restaurants 自营餐厅数目

国际自营餐厅网络

PROFIT AND PROFIT MARGIN

FOR THE YEAR

HK$’000 千港元

年度溢利及利润率

41.0%

2,842,681

40.5%

49.6%

48.3%

45.3%

59.5%59.0%

50.4%

51.7%

54.7%

2.8%

16.0%

8.9%

5.4%

6.0

28.8

17.5

10.5

79,843

287,792

202,960

Note:

(1) Takeaway and delivery comprises takeaway orders made at the restaurants and delivery orders

fulfiled through online delivery platforms.

附注：

(1) 外卖自取及到户包括于餐厅作出的外卖自取订单及透过网上

外送平台完成的到户订单。

Tam Jai International Co. Limited Anual Report 2024/25

CHAIRMAN’S STATEMENT

主席报告

Mr. Lau Tat Man (刘达民先生)

Chairman, Executive Director

and Chief Executive Oficer

主席、执行董事及行政总裁

STRENGTH AND AGILITY IN THE FACE OF ADVERSITY

The financial year ended 31 March 2025 (the “Year” or “FY2025”)

presented significant chalenges for Tam Jai International Co. Limited

(“TJI”, “Tam Jai International” or the “Company”, together with its

subsidiaries, the “Group”, “we”, “us” or “our”). During this period, we

navigated a complex and rapidly evolving environment that chalenged our

operational resilience. Despite these dificulties, we remain steadfast in

pursuing our long-term strategic vision. In the face of market headwinds,

we have responded with resilience, agility and an inovative spirit, enabling

us to make progres in our busines development, even in unfavourable

conditions.

During FY2025, our operations were adversely impacted by a combination

of economic slowdown, shifting consumption paterns, and heightened

competitions. In Hong Kong, our largest market, the ongoing trend of

northbound consumption had profound implications to the local busines

environment. Nevertheles, we sucesfuly expanded our restaurant

network to a total of 245 outlets acros Hong Kong, Mainland China,

Singapore, Japan and Australia as at 31 March 2025. At the same time,

we catered to increasingly cost-conscious consumers and stimulated

store trafic by enhancing our value oferings. As a result, we achieved a

modest year-on-year revenue increase of 3.4% to HK$2,842.7 milion in

FY2025, with a profit of HK$79.8 milion, despite the market adversity.

逆境中展现实力及韧性

谭仔国际有限公司（「谭仔国际」、「谭仔」或「本公

司」，连同其附属公司统称「本集团」或「我们」）于

截至二零二五年三月三十一日止财政年度（「本年

度」、「年内」或「二零二五财政年度」）面临相当大

的挑战。于此期间，集团身处复杂且瞬息万变的

环境，面对不少营运的考验。尽管荆棘满途，我

们仍然坚定不移地按步实践我们长远的策略性愿

景，发挥无比韧性、灵活应变能力及创新精神，

昂然跨越市场险阻，逆风前行，再创业务发展新

里程。

于二零二五财政年度，我们的营运受经济放缓、

消费模式转变及竞争加剧等因素影响。而香港是

我们最大的市场，随著北上消费蔚然成风，对香

港营商环境影响深远。尽管如此，我们仍成功扩

展餐厅网络至共245间分店（于二零二五年三月三

十一日），遍及香港、中国内地、新加坡、日本及

澳洲。与此同时，有见消费者愈来愈重视产品的

性价比，我们乘势推出更多超值优惠，以刺激店

舖人流。因此虽然市况欠佳，我们于二零二五财

政年度的收益仍然按年轻微增长3.4%至2,842.7

百万港元，并录得溢利79.8百万港元。

谭仔国际有限公司 2024/25 年报

CHAIRMAN’S STATEMENT

主席报告

扩展全球业务

本年度，我们与合营伙伴及次特许经营伙伴联手

于澳洲墨尔本开设两间分店，在实现将「谭仔味」

带到全世界的愿景历程上向前迈进一大步。此两

家分店均以我们专门为国际市场而设的全新「谭

仔香港米线」品牌营运，标志著我们首度进军西

方市场，并将为我们未来借助合作模式拓展海外

版图提供宝贵的经验。此外，我们亦已就开拓马

来西亚及菲律宾市场建立伙伴关系，为进军增长

蓬勃的东南亚市场奠定稳固基础。

与此同时，鉴于中国内地及新加坡市场的竞争愈

趋剧烈，削弱其获利空间，我们策略性地缩减该

两个市场的店舖网络，务求重整资源，以提升集

团的营运表现。

香港发展多品牌策略

由于我们的旗舰品牌「谭仔」及「三哥」在香港已

占据稳固的市场地位，我们积极引入更多的品牌

概念，策略性地扩展我们在快速休闲餐厅领域的

市场占有率。此多品牌策略将会活用我们现有的

营运经验和优势，成为推动我们未来增长的全新

动力。

于二零二五财政年度，我们透过签订授权协议，

引进知名日式牛肉饭品牌「山牛」，并开设三间新

店，令我们的业务更加多元化。此外，我们的餐

厅组合增添了12间「丸亀制面」餐厅，其中九间分

店是继二零二三年获授该受欢迎日本乌冬面品牌

的特许经营权后，在二零二四年十一月中旬收购

的现有餐厅。展望未来，我们将继续拓展该两个

日本品牌的分店网络，以推动香港业务增长。

实现长远可持续发展

为了在竞争激烈的市场中脱颖而出，我们推进数

码转型，以提升营运效率及客户体验，主要工作

包括推出新一代客户关系管理（「CRM」）系统，它

将成为更精细、更个人化市场推广的强大后盾，

有助提升顾客忠诚度及带动业务增长。在致力开

源的同时，集团所有业务单位均实行节流措施，

包括简化工作流程及提升营运效率，以加强我们

的财务实力。

ADVANCING GLOBAL EXPANSION

Our progres in realising our vision of bringing the “Tam Jai Taste” to the

world was highlighted by the opening of two stores in Melbourne, Australia,

during the Year, in colaboration with our joint venture partner and sub-

franchise partner, respectively. These two stores operate under our new

“TamJai Mixian” (谭仔香港米线) brand, which is designed specificaly for

international markets. They mark our first entry into the Western market

and wil provide valuable experience for our future overseas expansion

through partnership models. We have also laid important groundwork for

expanding in the rapidly growing Southeast Asian market by establishing

partnerships for entering Malaysia and the Philipines.

At the same time, as the profit margins of our busineses in Mainland

China and Singapore were eroded by the intensifying market competitions,

we strategicaly downsized our store networks in these two markets,

with the aim of redirecting resources to improve the performance of our

operations.

MULTI-BRAND STRATEGY IN HONG KONG

As our flagship brands “TamJai” and “SamGor” have already established

a strong market fothold in Hong Kong, we have strategicaly expanded

our presence in the fast-casual segment by introducing aditional brand

concepts. Leveraging our existing operational expertise and advantages,

this multi-brand strategy serves as a new engine for driving our future

growth.

In FY2025, we expanded our portfolio by launching the renowned

Japanese bef rice brand Yakiniku Yamagyu through a licensing

agrement, with the opening of thre new stores. Aditionaly, we aded

12 Marugame Seimen restaurants to our network, nine of which were

existing stores acquired in mid-November 2024 after we were granted

the franchise rights of the popular Japanese udon nodle brand in 2023.

Loking ahead, we wil continue to expand the store networks of these

two Japanese brands to fuel our growth in Hong Kong.

CHARTING A COURSE FOR LONG-TERM SUSTAINABLE

DEVELOPMENT

In order to stand out from the competitive market, we are advancing our

digital transformation to enhance operational eficiency and customer

experience. A key initiative is the revamp of our customer relationship

management (“CRM”) system, which wil enable us to utilise more

sophisticated and personalised marketing, strengthening customer loyalty

and driving busines growth. In tandem with our eforts to drive revenue,

we are implementing cost optimisation measures acros al busines units,

including workflow streamlining and operational eficiency improvements,

to strengthen our financial foundation.

Tam Jai International Co. Limited Anual Report 2024/25

CHAIRMAN’S STATEMENT

主席报告

我们实践三大环境、社会及管治（「ESG」）支柱

「润泽社区」、「提人为本」及「绿色倡议」，致力在

发展业务的同时，为所有持份者创造可持续价

值。我们将这些理念融入日常营运及长期策略

中，使我们在追求可持续发展的道路上取得进

展，并于本年度为社会及环境带来切实裨益。

鸣谢

本人谨此向全体员工致以最诚挚的谢意，正是他

们的辛勤努力与无私付出，成就了我们在逆境中

坚定前行的稳固基石。本人亦感谢股东、顾客、

业务伙伴及供应商，全赖他们多年来的信任及支

持，我们方能持续发展及茁壮成长。

营商环境变幻莫测，我们相信改变在所难免。然

而，我们始终坚守愿景 — 将香港本土独有的「谭

仔味」带到全世界每个角落。秉持谭仔品牌的核

心DNA，我们发挥「勇于挑战」及「至诚服务」的精

神，致力提供优质的用餐体验，持续为顾客送上

「啖惊喜」，为他们的生活增添色彩，贯彻集团

自成立以来的成功初心。

谭仔国际有限公司

董事会主席兼行政总裁

刘达民

Guided by our thre environmental, social and governance (“ESG”) pilars

of “Nourishing Comunities”, “Uplifting People”, and “Preserving Nature”,

we are comited to creating sustainable value for al stakeholders

throughout our busines development. By integrating these principles into

our daily operations and long-term strategy, we have made progres in

our sustainability journey, delivering measurable benefits for both society

and the environment during the Year.

ACKNOWLEDGMENT

I would like to expres my depest gratitude to our employes, whose

hard work and steadfast dedication have formed the bedrock of our

resilience throughout these chalenging times. I would also like to thank

our shareholders, customers, busines partners and supliers for their

trust and suport over the years, which has ben integral to our continued

development and growth.

As we navigate an increasingly dynamic busines landscape, we recognise

that change is inevitable. Yet we remain firmly anchored by our vision to

bring the Hong Kong homegrown “Tam Jai Taste” to al over the world.

Guided by the “Wil to Win” and the “Pasion to Serve” at the heart of

our brand DNA, we remain comited to delivering exceptional dining

experiences that consistently “Spice up the Day” for our customers,

honouring the esence of what has driven our suces since inception.

Lau Tat Man

Chairman of the Board and Chief Executive Oficer

Tam Jai International Co. Limited

ManageMent Discusion anD analysis

管理层讨论及分析

谭仔国际有限公司 2024/25 年报

BUSINES OVERVIEW

In FY2025, the Group’s busineses in its core markets continued to be

impacted by factors such as economic downturn, shifting consumer

habits, slugish consumer sentiment and intensifying competition. Against

this chalenging backdrop, the Group recorded a modest revenue increase

of 3.4% year-on-year to HK$2,842.7 milion, driven by the net adition of

14 self-operated restaurants during the Year.

The Group had an extensive network of self-operated restaurants,

comprising 243 outlets acros Hong Kong, Mainland China, Singapore

and Japan as at 31 March 2025. In adition to the restaurants under the

Group’s two flagship brands, “TamJai Yunan Mixian” (“TamJai”) and “TamJai

SamGor Mixian” (“SamGor”), its restaurant network included thre stores

launched under the newly licensed Japanese bef rice brand, “Yakiniku

Yamagyu”, and 12 “Marugame Seimen” stores in Hong Kong. In terms

of its overseas joint venture and franchise busines, it had two stores in

Australia at the end of FY2025 as further elaborated below.

In Hong Kong, the slugish economy and the ongoing trend of northbound

consumption, where residents increasingly dine and shop acros the

border, dampened local demand, and led to intensified competition

in Hong Kong’s fod and beverage (“F&B”) sector. During the Year,

while continuing to expand its restaurant network, the Group increased

discounts and promotions to adres the weak consumption sentiment.

As a result, the Group was able to sustain revenue growth, although

profitability was adversely impacted.

Through targeted measures to enhance operational eficiency, the Group’s

key cost ratios remained stable in FY2025 despite inflationary presures.

The cost-to-revenue ratio for fod and beverages consumed was

maintained at 23.7% in FY2025 (financial year ended 31 March 2024 (“FY

2024”): 23.6%). Staf cost-to-revenue ratio stabilised at 32.4% (FY2024:

32.4%). Aditionaly, the Group continued negotiations with landlords and

supliers to secure more favourable comercial terms and reduce costs.

The Group advanced its global expansion strategy with the opening of

two stores in Melbourne, Australia under its new “TamJai Mixian” (谭仔

香港米线) brand designed for international markets. These store debuts,

in colaboration with its joint venture partner and sub-franchise partner

respectively, mark the Group’s first foray into the western market and

overseas market expansion through partnership models.

Concurently, as part of its eforts to overhaul its busines outside of Hong

Kong, the Group downsized its store network in Mainland China and

Singapore during the Year, incuring one-of closure expenses. This is the

partial reason for the Group’s reduced profitability, with profit for the year

declining year-on-year to HK$79.8 milion from HK$118.6 milion in the last

coresponding year.

业务概况

回顾二零二五财政年度，本集团于核心市场的业

务继续受到经济下滑、消费习惯转变、消费意欲

疲弱及竞争加剧等因素的影响。本集团迎难而

上，于年内净增设14间自营餐厅，带动收益按年

微升3.4%至2,842.7百万港元。

截至二零二五年三月三十一日，本集团拥有庞大

的自营餐厅网络，旗下243间分店遍布香港、中

国内地、新加坡及日本。本集团不单以两大旗舰

品牌「谭仔云南米线」（「谭仔」）及「谭仔三哥米线」

（「三哥」）经营餐厅，更于香港借由新授权日式牛

肉饭品牌「山牛」增设3间店舖，再加上12间「丸亀

制面」分店。至于海外合营公司及特许经营业务

方面，截至二零二五财政年度末，本集团已于澳

洲设立两间店舖，详情于下文阐述。

本港经济疲弱，加上北上消费蔚然成风，越来越

多市民选择跨境消遣，令本地需求受压，香港餐

饮业竞争进一步加剧。年内，于持续扩展餐厅网

络的同时，本集团进一步加大折扣及市场推广的

力度，迎战疲弱的消费市道。因此，本集团仍能

维持收益增长，不过盈利能力则受到影响。

面对通胀压力，本集团透过针对性措施提升营运

效率，成功将二零二五财政年度的主要成本比率

维持于稳定水平。于二零二五财政年度，所使用

食品及饮料成本占收益比率维持于23.7%（截至

二零二四年三月三十一日止财政年度（「二零二

四财政年度」）：23.6%），而员工成本占收益比率

则维持于32.4%（二零二四财政年度：32.4%）。此

外，本集团与业主及供应商持续磋商，力求争取

更优惠的商业条款及降低成本。

本集团进一步推进全球扩展策略，与合营伙伴及

次特许经营伙伴联手于澳洲墨尔本开设两间专门

为国际市场而设的「谭仔香港米线」特许经营店，

标志著本集团首度进军西方市场，借助合作模式

拓展海外版图。

与此同时，作为部署香港以外市场其中一环，本

集团于年内缩减中国内地及新加坡的店舖网络，

因而产生一次性结业开支，并构成本集团盈利能

力下降的部分原因，导致年内溢利由去年同期的

118.6百万港元按年减少至79.8百万港元。

Tam Jai International Co. Limited Anual Report 2024/25

MANAgEMENT DISCUSION AND ANALYSIS

管理层讨论及分析

区域分析—香港

于二零二五财政年度，本港经济持续疲弱，加上

北上消费蔚然成风，餐饮同业争相抢夺有限客源

导致价格战日益白热化，令本集团的营商环境充

满挑战。面对沉重压力，市场气氛每况愈下，二

零二四年食肆总收益亦按年下跌。

尽管荆棘满途，本集团自营餐厅数目仍然按年净

增加合共30间，令香港店舖总数增至219间（截至

二零二五年三月三十一日），带动收益按年增长

4.3%。年内，本集团以旗舰品牌「谭仔」及「三哥」

净增设15间分店。与此同时，本集团亦透过与控

股东Toridol Holdings Corporation（「Toridol日本」）

签订授权协议，将日本知名牛肉饭品牌「山牛」引

进香港，至今已开设三间分店。此外，继二零二

三年获Toridol日本授予日本乌冬面品牌「丸亀制

面」的特许经营权后，本集团于二零二四年十一

月中旬进一步收购其在香港的九间现有餐厅，及

后再为该品牌增添三间新店。

有感消费意欲疲弱，本集团采取针对性的创新产

品策略，一方面刺激顾客消费，一方面提升对主

要消费群的吸引力。随著消费者日益关注性价

比，本集团提供更超值的折扣优惠，务求增加店

舖人流。与此同时，本集团亦不断革新餐牌以吸

引不同客群，例如增添素食选项，并于冬季推出

火锅。本集团亦将早市餐牌的供应范围扩大至更

多分店，力图提高其日间使用率。

尽管促销活动大受顾客欢迎，但本集团于二零二

五财政年度的利润按年有所下跌，主要归因于向

顾客提供较往年更加优惠的折扣，加上第三方外

送平台订单占比提高，导致佣金及手续费显著上

升。为减轻利润压力，本集团策略性地调整推广

策略，将更多外卖订单转至旗下CRM系统，同时

吸引更多堂食顾客。

区域分析—中国内地

年内，中国内地餐饮业持续受到消费意欲疲弱的

影响，餐厅倒闭数字创下新高，而二零二四年国

内餐饮业的收益增长亦显著放缓。市场同业纷

面临恶性竞争及价格压力的挑战。因此，本集团

来自中国内地市场的收益按年录得双位数跌幅。

Regional Analysis — Hong Kong

The Group navigated a dificult operating landscape in Hong Kong in

FY2025, characterised by persistent economic weaknes, the northbound

spending trend and heightened price competition acros the F&B sector

as operators competed for shrinking consumer walets. These presures

were reflected in the broader market deterioration, with the total value of

restaurant receipts declining year-on-year in 2024.

In spite of the chalenges faced, the Group managed to ad a net total of

30 self-operating stores year-on-year, bringing its total number of stores

in Hong Kong to 219 as at 31 March 2025, resulting in a 4.3% increase

in revenue year-on-year. During the Year, the Group aded 15 net stores

to its portfolio for its flagship brands, TamJai and SamGor. Besides,

the Group opened thre stores under the renowned Japanese bef rice

brand, Yakiniku Yamagyu, which was newly introduced to Hong Kong

through a licensing agrement with its controling shareholder, Toridol

Holdings Corporation (“Toridol Japan”). In adition, after being granted

the franchise rights of Marugame Seimen by Toridol Japan in 2023, the

Group further acquired the nine existing restaurants of the Japanese udon

nodle brand in Hong Kong in mid-November 2024 and subsequently

opened thre new stores under this brand.

In view of the weak consumer sentiment, the Group pursued a targeted

and inovative product strategy to stimulate customer spending and

broaden its apeal acros key demographics. Recognising the growing

cost sensitivity of consumers, the Group expanded its value ofers to drive

store trafic. At the same time, new menu items were launched to atract

diverse customer segments, such as the new gren fod menu and winter

hotpot. The Group also extended breakfast oferings to more stores to

help increase daypart utilisation.

While the promotions were enticing for customers, the Group experienced

a decline in profit year-on-year in FY2025. This decline was primarily

atributed to the deper discount ofers for customers compared to

previous years and a notable rise in comision and handling charges due

to a larger portion of orders coming from third-party delivery platforms.

To mitigate these margin presures, the Group strategicaly adjusted its

promotional aproach to redirect more takeaway orders to its own CRM

system and atract more dine-in customers.

Regional Analysis — Mainland China

The restaurant industry in Mainland China continued to sufer from weak

consumer sentiment during the Year, as evidenced by a record number of

restaurant closures and a significant slowdown in revenue growth in the

country’s F&B sector in 2024. Market players were batered by chalenges

of cut-throat competition and price presure. Consequently, the Group’s

revenue from the Mainland China market declined by double digit year-on-

year.

谭仔国际有限公司 2024/25 年报

MANAgEMENT DISCUSION AND ANALYSIS

管理层讨论及分析

为应对市场逆境，本集团发挥策略性思维进行网

络重组，于二零二五财政年度净关闭九间店舖，

截至二零二五年三月三十一日合共保留17间店

舖。尽管本年度下半年产生庞大结业开支导致中

国内地市场亏损加剧，惟此举有助为业务的长远

健康发展奠定根基。

与此同时，本集团于二零二四年九月在深圳皇庭

广场分店试行新店模式，以开放式厨房为卖点，

从店面设计以至餐牌构思皆强调香港元素，旨

在利用香港文化的独特魅力，将品牌定位为「香

港No.1米线」，力求于市场上脱颖而出。上述措

施标志著本集团迈向更广阔目标的战略部署，

旨在建立可持续的获利营运模式，在市场上长远

发展。

区域分析—新加坡

于二零二五财政年度，本集团在新加坡的业务经

历重大难题。随著竞争日益白热化，收益持续下

滑，本集团不单承受经济停滞、出境消费旅游热

潮以及市场新力军所带来的庞大压力，更面临

劳工及租金成本持续高企的问题。为应对市场挑

战，本集团作出优化店舖网络的策略决定，于本

年度下半年将分店数目由11间大幅削减至4间。

上述网络整合行动带来庞大的一次性结业开支，

导致按年亏损扩大。

区域分析—日本

在本集团营运的所有香港境外市场当中，日本于

二零二五财政年度的表现最出色，不单收益按

年强劲增长，盈利能力亦有所提升。如此佳绩实

有赖本集团于当地的营运团队稳定可靠，加上针

对日本民众喜好推出多款具有地方特色的期间

限定产品，以及行之有效的推广活动。凭借控股

股东Toridol日本的专业知识及资源，本集团持续

壮大于日本的业务，为未来进一步扩展奠下稳固

基础。

In response to the market headwinds, the Group implemented a strategic

network rationalisation, which led to a net closure of nine stores in FY2025,

leaving a total of 17 stores as at 31 March 2025. While the substantial

closure expenses incured in the second half of the Year exacerbated

the los in the Mainland China market, this measure has positioned the

busines for healthier long-term development.

In paralel, the Group introduced a new pilot store model at its Wongte

Plaza outlet in Shenzhen in September 2024, with a strong emphasis

on live kitchen and Hong Kong elements in both store design and menu

items, aiming to diferentiate the brand in the market by leveraging the

unique apeal of Hong Kong’s culture and positioning it as “Hong Kong’s

No.1 Mixian”. These measures serve as a strategic step towards the

Group’s broader goal of establishing a sustainable and profitable operating

model for long-term development in the market.

Regional Analysis — Singapore

The Group’s busines in Singapore faced significant chalenges in

FY2025, marked by a continuous revenue decline in an increasingly

competitive landscape. The Group encountered intense presure from

economic stagnancy, masive outbound travel and consumptions, new

market entrants, coupled with persistently high labour and rental costs.

In response to these market conditions, the Group made the strategic

decision to optimise its store network, significantly reducing the number

of stores from 11 to 4 in the second half of the Year. This network

consolidation resulted in substantial one-of closure expenses, leading to a

widened los year-on-year.

Regional Analysis — Japan

Japan outperformed al of the Group’s markets outside Hong Kong in

FY2025, delivering robust year-on-year revenue growth and improved

profitability. The strong performance was atributable to the Group’s

stable local operational team, the introduction of various localised limited-

time oferings tailored to Japanese preferences and efective promotional

campaigns. Leveraging the expertise and resources of its controling

shareholder, Toridol Japan, the Group has continued to strengthen its

operations in Japan, laying a solid foundation for further expansion in the

future.

Tam Jai International Co. Limited Anual Report 2024/25

MANAgEMENT DISCUSION AND ANALYSIS

管理层讨论及分析

前景与策略

香港

在宏观经济不明朗及地缘政治局势日益紧张的

情况下，以及北上消费已成大势，消费意欲持续

低迷，预料香港餐饮业仍然挑战重。面对瞬息

万变的市场环境，本集团致力透过一系列改革措

施为顾客创造更大价值，包括革新餐牌以迎合顾

客不断转变的喜好、优化店舖设计以提升顾客体

验，以及提高各个顾客接触点的服务水平。利用

数码科技提升营运效率及客户体验乃本集团的首

要任务。本集团其中一项数码化工作是即将面世

的新一代CRM系统，它将成为更精细、更个人化

市场推广的强大后盾，助力提升顾客忠诚度。

至于店舖扩充方面，随著「谭仔」及「三哥」品牌全

面进占香港市场，新店增设步伐将会放缓。与此

同时，两大日本餐饮品牌「丸亀制面」及「山牛」有

望成为本集团在香港发展业务的新动力，未来将

继续扩充其店舖网络。最近，谭仔国际为「丸亀

制面」打造的品牌重塑方案深受顾客欢迎，当中

包括于店内设置开放式制面工房，为顾客提供正

宗的日式乌冬体验。除此之外，「山牛」首三间分

店亦初见成绩。展望未来，本集团将继续物色合

适店址，力求壮大上述日本餐饮品牌于香港的

版图。

在致力扩大收入来源的同时，本集团亦将实施严

格的成本控制措施，包括简化工作流程以及提高

所有业务单位及职能的成本效益。

中国内地及海外市场

本集团意识到国际市场面临巨大挑战，地缘政治

紧张及全球经济不明朗持续打击消费意欲，对

餐饮营运商构成威胁。于二零二五财政年度，本

集团策略性关闭中国内地及新加坡表现欠佳的

分店，相信有助减轻较长远的财务负担。针对上

述两大市场（尤其中国内地），本集团将重新调配

资源，借助Toridol日本的国际专业知识提升业务

表现。

至于海外拓展方面，继二零二五财政年度进军澳

洲开设两间店舖后，本集团亦已就开拓马来西亚

及菲律宾市场建立伙伴关系。秉持将「谭仔味」带

到全世界的长远愿景，本集团将继续透过特许经

营及其他伙伴模式实践国际扩张，促进更有效的

发展。

OUTLOK AND STRATEGIES

Hong Kong

Hong Kong’s chalenging F&B landscape is expected to continue, with the

firmly established trend of northbound spending, and slugish consumer

sentiment persisting amid macroeconomic uncertainties and rising

geopolitical tensions. Given the dynamic market conditions, the Group

is comited to creating greater value for customers through a series of

enhancement initiatives, including inovating its menu oferings to met

evolving customer preferences, optimising its store layouts to elevate the

customer experience, and raising service standards acros al touchpoints.

Leveraging digitalisation to strengthen operational eficiency and customer

experience remains a priority for the Group. As part of the Group’s

digitalisation eforts, an upcoming CRM system revamp wil enable more

sophisticated and personalised marketing to bolster customer loyalty.

In terms of store expansion, with TamJai and SamGor brands having

penetrated the Hong Kong market wel, the pace of new store openings

wil be slower. Meanwhile, the upcoming expansion of the store networks

for the two Japanese dining brands, Marugame Seimen and Yakiniku

Yamagyu, is expected to serve as a new growth driver for the Group in

Hong Kong. TJI has recently launched rebranding initiatives for Marugame

Seimen, which have ben wel received by customers. These eforts

include the introduction of an open-style in-store nodle-making station

to provide customers with an authentic Japanese udon experience.

Meanwhile, Yakiniku Yamagyu has also achieved initial suces in its first

thre store launches. Going forward, the Group wil continue to identify

suitable premises for the expansion of these Japanese dining brands in

Hong Kong.

While striving to expand revenue streams, the Group wil also implement

rigorous cost control measures, including streamlining workflow and

optimising cost eficiency acros al busines units and functions.

Mainland China and Overseas Markets

The Group recognises the considerable chalenges in its international

markets, where geopolitical tensions and global economic uncertainty

continue to dampen consumption sentiment, posing threats on F&B

operators. The strategic closure of underperforming stores in Mainland

China and Singapore in FY2025 wil help to reduce the Group’s financial

burden in the longer term. In these two markets, especialy Mainland

China, the Group wil redirect resources to improve busines performance

with the suport of Toridol Japan’s international expertise.

With respect to its overseas expansion, in adition to its Australian

debut with the opening of two stores in FY2025, the Group has already

established partnerships for market entry into Malaysia and the Philipines.

Comited to its long-term vision of bringing the “Tam Jai Taste” to the

world, the Group wil continue to pursue international expansion through

franchising and other partnerships to facilitate more eficient development.

谭仔国际有限公司 2024/25 年报

MANAgEMENT DISCUSION AND ANALYSIS

管理层讨论及分析

财务回顾

收益

我们的收益由二零二四财政年度的2,748.4百万

港元增加3.4%至二零二五财政年度的2,842.7百

万港元，主要受二零二五财政年度营运餐厅数目

增加所带动。

所使用食品及饮料成本

我们的所使用食品及饮料成本由二零二四财政年

度的648.1百万港元增加3.8%至二零二五财政年

度的672.9百万港元，主要由于二零二五财政年

度扩充餐厅业务所致。于二零二四财政年度及二

零二五财政年度，所使用食品及饮料成本占收益

的百分比维持稳定，分别为23.6%及23.7%。

其他净收入

我们的其他净收入由二零二四财政年度的50.5百

万港元减少至二零二五财政年度的44.9百万港

元，归因于关闭新加坡及中国内地餐厅导致出售

物业、机器及设备所产生的亏损。

员工成本

我们的整体员工成本（包括餐厅、中央厨房、总

部及办事处员工）由二零二四财政年度的889.5百

万港元增加3.6%至二零二五财政年度的921.9百

万港元，主要由于餐厅网络扩大导致餐厅员工成

本上升。于二零二四财政年度及二零二五财政年

度，员工成本占收益的百分比稳定维持于32.4%。

物业、机器及设备折旧

我们的物业、机器及设备折旧由二零二四财政年

度的115.4百万港元减少16.1%至二零二五财政年

度的96.8百万港元，主要由于二零二五财政年度

全面折旧的餐厅数目较二零二四财政年度上升。

使用权资产折旧、租金及相关开支

我们的使用权资产折旧、租金及相关开支由二零

二四财政年度的532.1百万港元增加5.0%至二零

二五财政年度的558.6百万港元，主要由于餐厅

数目增加所致。

耗材及包装开支

我们的耗材及包装开支由二零二四财政年度的

61.2百万港元减少10.1%至二零二五财政年度的

55.1百万港元，主要由于外卖或外送顾客减少取

用餐具所致。耗材及包装开支占收益的百分比由

二零二四财政年度的2.2%下降至二零二五财政

年度的1.9%。

FINANCIAL REVIEW

Revenue

Our revenue increased by 3.4% from HK$2,748.4 milion in FY2024 to

HK$2,842.7 milion in FY2025. The increase was primarily due to the

increase in the number of restaurants in operation in FY2025.

Cost of fod and beverages consumed

Our cost of fod and beverages consumed increased by 3.8% from

HK$648.1 milion in FY2024 to HK$672.9 milion in FY2025, which was

mainly due to the expansion of our restaurant operation in FY2025.

Our cost of fod and beverages consumed as a percentage of revenue

remained stable at 23.6% and 23.7% in FY2024 and FY2025, respectively.

Other net income

Our other net income decreased from HK$50.5 milion in FY2024 to

HK$44.9 milion in FY2025, due to loses incured from the disposal of

property, plant, and equipment resulting from the closure of restaurants in

Singapore and Mainland China.

Staf costs

Our overal staf costs (including restaurant, central kitchen, headquarters

and ofices staf) increased by 3.6% from HK$889.5 milion in FY2024 to

HK$921.9 milion in FY2025, which was primarily due to the increase in

restaurant staf costs due to the expansion of restaurant network. Our staf

costs as a percentage of revenue remained stable at 32.4% in FY2024

and FY2025.

Depreciation of property, plant and equipment

Our depreciation of property, plant and equipment decreased by 16.1%

from HK$115.4 milion in FY2024 to HK$96.8 milion in FY2025, mainly

atributable to a higher number of fuly depreciated restaurants in FY2025

as compared to FY2024.

Depreciation of right-of-use asets, rental and related expenses

Our depreciation of right-of-use asets, rental and related expenses

increased by 5.0% from HK$532.1 milion in FY2024 to HK$558.6

milion in FY2025, mainly atributable to the increase in the number of our

restaurants.

Consumables and packaging expenses

Our consumables and packaging expenses decreased by 10.1% from

HK$61.2 milion in FY2024 to HK$55.1 milion in FY2025, primarily

atributable to the lower consumption of takeaway or delivery cutlery

from our customers. Our consumables and packaging expenses as a

percentage of revenue droped from 2.2% in FY2024 to 1.9% in FY2025.

Tam Jai International Co. Limited Anual Report 2024/25

MANAgEMENT DISCUSION AND ANALYSIS

管理层讨论及分析

水电开支

我们的水电开支由二零二四财政年度的85.3百万

港元增加5.5%至二零二五财政年度的90.0百万港

元。水电开支占收益的百分比维持稳定，于二零

二四财政年度及二零二五财政年度分别为3.1%

及3.2%。

广告及宣传开支

我们的广告及宣传开支由二零二四财政年度的

61.2百万港元减少至二零二五财政年度的57.2百

万港元。广告及宣传开支占收益的百分比由二零

二四财政年度的2.2%微降至二零二五财政年度

的2.0%。

其他开支

其他开支主要包括法律及专业费用、电脑开支、

运输成本、减值拨备以及餐厅结业成本。我们的

其他开支由二零二四财政年度的81.7百万港元增

加29.6%至二零二五财政年度的105.9百万港元，

主要由于二零二五财政年度餐厅结业成本上升以

及就表现欠佳餐厅计提的减值拨备增加所致。

融资成本

我们的融资成本主要指根据香港财务报告准则第

16号确认与租赁有关的租赁负债利息。随著二零

二五财政年度扩大餐厅网络，融资成本由二零二

四财政年度的22.7百万港元增加3.1%至二零二五

财政年度的23.4百万港元。

应占合营公司亏损

我们的应占合营公司亏损指应占澳洲合营公司

Tam Jai Aust JV Pty Limited（于二零二三年十月

与ST Group Fod Industries Holdings Limited旗下

附属公司共同成立）的业绩。于二零二五财政年

度，应占亏损主要指该合营公司所产生的开业前

成本。

所得税开支

我们的所得税开支由二零二四财政年度的33.3百

万港元减少至二零二五财政年度的20.3百万港

元，归因于二零二五财政年度应课税溢利减少。

使用权资产

我们为旗下餐厅订立更多租赁协议，导致使用权

资产由二零二四年三月三十一日的778.9百万港

元增加至二零二五年三月三十一日的786.3百万

港元。

Utilities expenses

Our utilities expenses increased by 5.5% from HK$85.3 milion in FY2024

to HK$90.0 milion in FY2025. Our utilities expenses as a percentage

of revenue remained stable at 3.1% and 3.2% in FY2024 and FY2025,

respectively.

Advertising and promotion expenses

Our advertising and promotion expenses decreased from HK$61.2 milion

in FY2024 to HK$57.2 milion in FY2025. Our advertising and promotion

expenses as a percentage of revenue slightly droped from 2.2% in

FY2024 to 2.0% in FY2025.

Other expenses

Other expenses mainly included legal and profesional fes, computer

expenses, transportation costs, impairment provisions and restaurant

closure costs. Our other expenses increased by 29.6% from HK$81.7

milion in FY2024 to HK$105.9 milion in FY2025, mainly atributable to the

increase in restaurant closure costs and the increase in the impairment

provisions for the underperforming restaurants during FY2025.

Finance costs

Our finance costs mainly represented the interest on lease liabilities

recognised in acordance with HKFRS 16 asociated with our leases.

The increase by 3.1% from HK$22.7 milion in FY2024 to HK$23.4 milion

in FY2025 was due to the expansion of our restaurant network during

FY2025.

Share of los of a joint venture

Our share of los of a joint venture represented the share of results of a

joint venture in Australia, Tam Jai Aust JV Pty Limited, established with a

subsidiary of ST Group Fod Industries Holdings Limited in October 2023.

During FY2025, the share of los mainly represented the pre-opening cost

incured by the joint venture.

Income tax expense

Our income tax expense decreased from HK$33.3 milion in FY2024 to

HK$20.3 milion in FY2025, which was atributable to the decrease in the

asesable profits in FY2025.

Right-of-use asets

Our right-of-use asets increased from HK$778.9 milion at 31 March

2024 to HK$786.3 milion as at 31 March 2025 as we entered into more

tenancy agrements for our restaurants.

谭仔国际有限公司 2024/25 年报

MANAgEMENT DISCUSION AND ANALYSIS

管理层讨论及分析

存货

我们的存货主要包括餐厅营运所使用的食材及饮

料，包括肉类、肉丸、内脏、蔬菜及米线。我们

的存货由二零二四年三月三十一日的24.9百万港

元减少至二零二五年三月三十一日的21.2百万港

元。存货周转天数由二零二四财政年度的13.6天

下降至二零二五财政年度的12.5天。

贸易及其他应收款项以及按金及预付款项

我们的贸易及其他应收款项以及按金及预付款项

包括(i)与以智能卡结算的顾客的贸易结余；(i)应

收外送平台的贸易结余；(i)一家保安物流服务供

应商所持有尚未存入我们银行账户的在途资金；

(iv)向业主支付的租金按金以及水电费按金；及

(v)购买物业、机器及设备的预付款项以及预付保

费。贸易及其他应收款项以及按金及预付款项由

二零二四年三月三十一日的239.6百万港元增加

至二零二五年三月三十一日的257.2百万港元，

主要由于应收外送平台的贸易结余增加所致。

贸易及其他应付款项以及应计费用及已收按金

我们的贸易及其他应付款项以及应计费用及已收

按金包括(i)为餐厅营运购买食材及饮料的成本；

(i)餐厅、办事处及中央厨房的应计经营成本；(i)

会员计划及已派发优惠券产生的合约负债；及(iv)

来自物流服务供应商的已收按金。贸易及其他应

付款项以及应计费用及已收按金由二零二四年三

月三十一日的231.8百万港元增加至二零二五年

三月三十一日的249.3百万港元。

租赁负债

于二零二五年三月三十一日，我们的租赁负债稳

定维持于804.6百万港元（二零二四年三月三十一

日：803.5百万港元）。

流动资金及财务资源

我们主要以内部产生的现金流量为营运资金拨

资。于二零二五年三月三十一日，我们的现金及

现金等价物（指现金及银行结余）为1,327.7百万

港元（二零二四年三月三十一日︰1,351.5百万港

元）。银行存款及现金以港元、人民币、新加坡币

及日圆计值。

于二零二五年三月三十一日，我们并无任何计

息银行及其他借款（二零二四年三月三十一日︰

无）。因此，未有提供资本负债比率。

Inventories

Our inventories mainly consist of fod ingredients and beverages

consumed in our restaurant operations, including meat, meat bals, ofal,

vegetables and mixian. Our inventories decreased from HK$24.9 milion as

at 31 March 2024 to HK$21.2 milion as at 31 March 2025. Our inventory

turnover days decreased from 13.6 days in FY2024 to 12.5 days in

FY2025.

Trade and other receivables and deposits and prepayments

Our trade and other receivables and deposits and prepayments included (i)

trading balances with our customers with smart card setlement; (i) trading

balances receivable from the delivery platforms; (i) cash-in-transit pending

to be deposited into our bank acounts held by a secured logistics service

provider; (iv) rental deposits to our landlords and utilities deposits; and (v)

prepayments for purchases of property, plant and equipment and prepaid

insurance premium. Our trade and other receivables and deposits and

prepayments increased from HK$239.6 milion as at 31 March 2024 to

HK$257.2 milion as at 31 March 2025, mainly due to the increase in

trading balances receivable from the delivery platforms.

Trade and other payables and acruals and deposits received

Our trade and other payables and acruals and deposits received included

(i) the purchase cost of fod ingredients and beverages for restaurant

operations; (i) acrued operating costs of our restaurants, ofices

and central kitchens; (i) contract liabilities generated from our loyalty

programe and coupons distributed; and (iv) deposits received from

logistics service providers. Our trade and other payables and acruals and

deposits received increased from HK$231.8 milion as at 31 March 2024

to HK$249.3 milion as at 31 March 2025.

Lease liabilities

Our lease liabilities remained stable at HK$804.6 milion as at 31 March 2025 (31

March 2024: HK$803.5 milion).

Liquidity and financial resources

We principaly fund our working capital from internaly generated cash

flows. As at 31 March 2025, our cash and cash equivalents (representing

the cash and bank balances) were HK$1,327.7 milion (31 March 2024:

HK$1,351.5 milion). The bank deposits and cash were denominated in

Hong Kong dolars, Renminbi, Singapore dolars and Japanese Yen.

As at 31 March 2025, we did not have any interest-bearing bank and

other borowings (31 March 2024: Nil). Acordingly, the gearing ratio is not

available.

Tam Jai International Co. Limited Anual Report 2024/25

MANAgEMENT DISCUSION AND ANALYSIS

管理层讨论及分析

资产抵押

于二零二五年三月三十一日，我们并无抵押资产

（二零二四年三月三十一日︰无）。

外币风险

本集团的收益及成本大多以港元、人民币、新加

坡币及日圆计值。人民币、新加坡币及日圆兑港

元波动或会影响本集团的业绩。本集团并无任何

货币对冲政策，亦无设立任何对冲或其他工具以

降低货币风险。本集团将继续密切监控外币风险

及于必要时采取合适措施降低风险。

资本承担

于二零二五年三月三十一日，我们的资本承担为

5.0百万港元（二零二四年三月三十一日︰1.2百万

港元）。

或然负债

于二零二五年三月三十一日，本集团的或然负债

约为26.2百万港元（二零二四年三月三十一日：

26.8百万港元），涉及为业主提供银行担保以代

替按金。

本集团所持重大投资

我们于二零二五年三月三十一日并无持有重大

投资。

本集团的重大收购及出售

于二零二四年十一月八日，谭仔日式概念有限

公司（「谭仔日式概念」，本公司的间接全资附属

公司）与东利多控股有限公司（本公司控股东）

订立协议，以代价4.1百万港元收购东利多和颐

控股有限公司（「目标公司」）全部股权（「收购事

项」）。谭仔日式概念亦同意于完成日期代表丸龟

制面（香港）有限公司（目标公司的直接全资附属

公司）偿还未偿还股东贷款合共约8.4百万港元

（包括未偿还本金连同其应计及未付利息）。收购

事项已于二零二四年十一月八日完成，而目标

公司及其附属公司自此成为本公司的全资附属

公司。

Pledge of asets

As at 31 March 2025, we had no pledged asets (31 March 2024: Nil).

Foreign curency exposures

The Group’s revenue and costs are mostly denominated in Hong Kong

dolars, Renminbi, Singapore dolars and Japanese Yen. The fluctuations

of Renminbi, Singapore dolars and Japanese Yen against Hong Kong

dolars may afect the Group’s results. The Group does not have any

curency hedging policy and has not entered into any hedging or other

instrument to reduce curency risks. The Group wil continue to closely

monitor the foreign curency exposure and take apropriate measures to

minimise the risk when necesary.

Capital comitments

As at 31 March 2025, we had capital comitments of HK$5.0 milion (31

March 2024: HK$1.2 milion).

Contingent liabilities

As at 31 March 2025, the Group had contingent liabilities of aproximately

HK$26.2 milion (31 March 2024: HK$26.8 milion) in respect of bank

guarantes given in favour of the landlords in lieu of deposits.

Significant investments held by the Group

There were no significant investments held by us as at 31 March 2025.

Material acquisitions and disposals by the Group

On 8 November 2024, TJI Japanese Concepts Company Limited (谭仔日

式概念有限公司) (an indirect wholy-owned subsidiary of the Company)

(“TJI Japanese Concepts”) entered into an agrement with Toridol

Holding Limited (a controling shareholder of the Company) to acquire the

entire equity interest in Toridol and Heyi Holding Limited (东利多和颐

控股有限公司) (the “Target Company”) at the consideration of HK$4.1

milion (the “Acquisition”). TJI Japanese Concepts also agred to repay

outstanding shareholder’s loan in the agregate amount of aproximately

HK$8.4 milion (comprising the outstanding principal amount together with

acrued and unpaid interest thereon) on behalf of Marugame (HK) Limited (丸

龟制面(香港)有限公司) (a direct wholy-owned subsidiary of the Target

Company) on the completion date. Completion of the Acquisition tok

place on 8 November 2024, and the Target Company and its subsidiary

have become wholy-owned subsidiaries of the Company since then.

谭仔国际有限公司 2024/25 年报

MANAgEMENT DISCUSION AND ANALYSIS

管理层讨论及分析

根据香港联合交易所有限公司（「联交所」）证券上

市规则（「上市规则」）第14A章，收购事项构成本

公司的关连交易。详情请参阅本公司日期分别为

二零二四年十一月八日及二零二四年十二月四日

的公告。

除上文披露者外，于二零二五财政年度，概无重

大收购及出售附属公司、联营公司及合营公司。

重大投资或添置资本资产的未来计划

我们将继续专注于本公司日期为二零二一年九

月二十三日的招股章程（「招股章程」）所载业务

策略。于本公告日期，除招股章程所披露者外，

我们并无任何其他有关重大投资或资本资产的

计划。

雇员、薪酬政策及退休金计划

截至二零二五年三月三十一日，我们有3,491名

（二零二四年三月三十一日：3,304名）雇员。雇员

（包括全职及兼职雇员）的薪酬待遇一般包括基本

薪金、酌情花红及奖励，以及以权益结算的以股

份为基础的支付（只限于合资格雇员）。基本薪金

通常根据特定雇员的工作经验、学术及专业资格

（如相关）以及现行市场薪金水平而定。酌情花红

及奖励通常根据（其中包括）本集团的财务表现而

定。以权益结算的以股份为基础的支付旨在激励

及挽留合资格雇员，以提高其表现效率，促进本

集团的长期发展。

我们亦为前线餐厅员工提供各方面的培训，如操

作程序、客户服务、清洁卫生、食品安全及工作

安全。营运管理团队会在食品及服务质素、卫生

及人手规划方面监督及指导新员工。我们亦为管

理人员提供各类在职培训，涉及（其中包括）成本

控制、投诉处理、人力资源、环境、社会及管治

以及法律问题。

上市及超额配股权所得款项净额

完成按发售价每股3.33港元发行335,008,000股新

股份后，本公司普通股（「股份」）于二零二一年十

月七日在联交所上市。全球发售（定义见招股章

程）所得款项净额（经扣除包销费用、佣金及本公

司应付的其他相关开支后）约为1,051.0百万港元

（「所得款项净额」）。

The Acquisition constituted a conected transaction for the Company

under Chapter 14A of the Rules Governing the Listing of Securities (the

“Listing Rules”) on The Stock Exchange of Hong Kong Limited (the

“Stock Exchange”) . For details, please refer to the anouncements of the

Company dated 8 November 2024 and 4 December 2024, respectively.

Save as disclosed above, during FY2025, there were no material

acquisitions and disposals of subsidiaries, asociates and joint ventures.

Future plans for material investments or aditions of capital

asets

We wil continue to focus on our busines strategies as set out in the

prospectus of the Company dated 23 September 2021 (the “Prospectus”).

As at the date of this anouncement, save as disclosed in the Prospectus,

we have no plan for any other material investments or capital asets.

Employes, remuneration policy and pension scheme

As at 31 March 2025, we had 3,491 employes (31 March 2024: 3,304).

The remuneration package of our employes (including ful-time and part-

time employes) generaly includes basic salary, discretionary bonus and

incentives, and equity setled share-based payments (eligible employes

only). The basic salary is generaly based on the particular employe’s

work experience, academic and profesional qualifications (if relevant) and

the prevailing market salary levels. The discretionary bonus and incentives

are generaly based on, among other things, the financial performance of

the Group. The equity setled share-based payments are to motivate and

retain eligible employes to optimise their performance eficiency for the

benefit of the long term growth of the Group.

We also provided frontline restaurant staf with training in various aspects,

such as operational procedures, customer services, cleaning and

sanitation, fod safety and work safety. Our operations management

teams wil monitor and supervise our new staf in terms of quality of fod

and services, hygiene and manpower planing. We also provided our

managerial staf with various types of on-the-job training in relation to,

among other things, cost control, complaints handling, human resources,

environmental, social and governance and legal isues.

Net proceds from the listing and over-alotment option

The ordinary shares of the Company (the “Share(s)”) were listed on the

Stock Exchange on 7 October 2021 folowing the completion of isue of

335,008,000 new Shares at an ofer price of HK$3.33 per Share. The net

proceds from the Global Ofering (as defined in the Prospectus), after

deducting the underwriting fes, comisions and other related expenses

payable by the Company, amounted to aproximately HK$1,051.0 milion (the

“Net Proceds”).

Unutilised Net Proceeds during the year ended 31 March 2025Unutilised Net Proceeds as at 31 March 2025
截至 二零二五年 三月三十一日 止年度已使用 所得款项净额于二零二五年 三月三十一日 尚未使用 所得款项净额
(HK$ million)(HK$ million)
（百万港元）（百万港元）
50.7287.9
093.1
19.637.0
18.712.6
2.40
00
91.4430.6

Tam Jai International Co. Limited Anual Report 2024/25

MANAgEMENT DISCUSION AND ANALYSIS

管理层讨论及分析

于二零二三年十一月一日，董事会议决更改所得

款项净额用途，将原拟用作「扩充餐厅网络」（仅

包含自营餐厅）的所得款项净额用途扩大至包括

透过合营及╱或特许经营安排于选定海外市场开

设餐厅。详情请参阅本公司日期为二零二三年十

一月一日的公告（「十一月一日公告」）。

本公司拟将所得款项净额用作招股章程及十一月

一日公告所载的用途。截至二零二五年三月三十

一日，所得款项净额使用情况分析如下：

附注：

属此类别的所得款项净额用途已由扩充餐厅网络（仅包含自营餐厅）

更改为包括透过合营及╱或特许经营安排在选定海外市场开设餐

厅。详情请参阅十一月一日公告。

使用尚未使用所得款项净额的预期时间表乃根据

董事最佳估计编制，惟可能会受到本集团现时和

未来发展及市况所影响，且可能不时调整。

On 1 November 2023, the Board resolved to change the use of Net

Proceds such that the original proposed use of Net Proceds for “Expansion

of the Restaurant Network” comprising self-operated restaurants only has

ben expanded to include the opening of restaurants in selected overseas

markets through joint venture and/or franchising arangements. For details,

please refer to the anouncement of the Company dated 1 November 2023 (the

“1 Nov Anouncement”).

The Company intends to use the Net Proceds for the purposes as set out

in the Prospectus and the 1 Nov Anouncement. As at 31 March 2025, an

analysis of the utilisation of the Net Proceds is as folows:

Proposed use of Net Proceds

所得款项净额

拟定用途

Aproximate %

of Net ProcedsNet Proceds

Unutilised Net

Proceds as at

1 April 2024

Expected timeline for

ful utilisation

所得款项

净额概约%所得款项净额

于二零二四年

四月一日

尚未使用

所得款项净额悉数使用预期时间表

(HK$ milion)(HK$ milion)

（百万港元）（百万港元）

Expansion of the restaurant network

(Note)

扩充餐厅网络

（附注）

57.4%603.3338.6Before 31 March 2026

二零二六年三月

三十一日前

Expanding the central kitchen in

Hong Kong and establishing new

central kitchens in Mainland China,

Singapore and Australia

扩充香港的中央厨房

及在中国内地、

新加坡及澳洲设立

新的中央厨房

9.4%98.893.1Before 31 March 2026

二零二六年三月

三十一日前

Refurbishment of the restaurants and

enhancing the operating equipment

翻新餐厅及提升经营

设备

10.5%110.456.6Before 31 March 2026

二零二六年

三月三十一日前

Implementing a customer relationship

management system, a voice

ordering system, an enterprise

resources planing system and

upgrading the information and

technology infrastructure

推行客户关系管理系

统、语音订餐系

统、企业资源规划

系统，以及提升

我们的资讯及

科技基础设施

5.1%53.631.3Before 31 March 2026

二零二六年

三月三十一日前

International brand building and new

market entry promotion

国际品牌建设及

新市场进入推广

7.8%82.02.4N/A

不适用

General corporate purposes and working

capital

一般企业用途及营运

资金

9.8%102.90N/A

不适用

Total总计100%1,051.0522.0

Note:

The use of Net Proceds under this category has ben changed from expansion of the restaurant

network comprising self-operated restaurants only to include the opening of restaurants in selected

overseas markets through joint venture and/or franchising arangements. For details, please refer to the 1

Nov Anouncement.

The expected timeline for the usage of the unutilised Net Proceds is

made based on the Directors’ best estimation, which is subject to the

curent and future development of the Group and market conditions and

may be adjusted from time to time.

BOARD OF DIRECTORS AND SENIOR MANAgEMENT

董事会及高级管理层

谭仔国际有限公司 2024/25 年报

执行董事

刘达民先生，57岁，于二零一八年十月一日获委

任为董事及于二零二一年四月八日调任为执行董

事。刘先生为本公司主席兼行政总裁，及为我们

所有附属公司的董事。

刘先生于香港及亚太区饮食业拥有超过35年经

验。加入本集团之前，彼于Select Service Partner

Asia Pacific Limited（SP Group PLC（於伦敦证券

交易所上市，股份代号：SPG）的附属公司）担

任董事总经理。此外，彼曾于快餐店集团大家乐

企业有限公司（大家乐集团有限公司（「大家乐」，

于联交所主板上市，股份代号：341）的附属公

司）担任董事总经理。

刘先生持有香港的香港中文大学工商管理硕士学

位，并于二零一零年至二零一年列入院长嘉许

名单。

EXECUTIVE DIRECTORS

Mr. Lau Tat Man (刘达民), aged 57, was apointed as a Director on 1

October 2018 and was re-designated as an executive Director on 8 April

2021. Mr. Lau is the chairman and chief executive oficer of our Company

and a director of al of our subsidiaries.

Mr. Lau has over 35 years of experience in the fod and beverage industry

in Hong Kong and the Asia Pacific region. Prior to joining our Group, he

worked as a managing director of Asia Pacific at Select Service Partner

Asia Pacific Limited, a subsidiary of the SP Group PLC, a company listed

on the London Stock Exchange (stock code: SPG). Also, he worked as a

managing director of the quick service restaurants group of Café de Coral

Group Limited, a subsidiary of Café de Coral Holdings Limited (“Café de

Coral”), a company listed on the Main Board of the Stock Exchange (stock

code: 341).

Mr. Lau holds a master’s degre in busines administration from The

Chinese University of Hong Kong in Hong Kong and was placed on the

dean’s list in 2010 to 2011.

Mr. Lau Tat Man

刘达民先生

Tam Jai International Co. Limited Anual Report 2024/25

BOARD OF DIRECTORS AND SENIOR MANAgEMENT

董事会及高级管理层

陈萍女士，54岁，于二零二一年四月八日获委任

为执行董事。陈女士于二零一八年十一月加入本

集团出任首席财务官。陈女士亦为我们于香港注

册成立的所有附属公司的董事。

陈女士于香港及中国内地市场的饮食业拥有超过

24年财务及会计经验。加入本集团之前，彼任职

唐宫（中国）控股有限公司（于联交所主板上市的

中国内地连锁餐饮集团，股份代号：1181）的集

团财务总监，其后任职美丽华酒店企业有限公司

（于联交所主板上市的公司，股份代号：71）的集

团饮食分部财务总监。

陈女士持有澳洲科廷科技大学（现称科廷大学）商

业会计学士学位及金融硕士学位。

陈女士为国际会计师公会资深会员及香港会计师

公会员。

Ms. Chan Ping, Rita (陈萍), aged 54, was apointed as an executive

Director on 8 April 2021. Ms. Chan joined our Group in November 2018 as

a chief financial oficer. Ms. Chan is also a director of al of our subsidiaries

incorporated in Hong Kong.

Ms. Chan has over 24 years of finance and acounting experience in

the fod and beverage industry of both Hong Kong and the Mainland

China markets. Prior to joining our Group, she served as a group financial

controler of Tang Palace (China) Holdings Limited, a fod and beverage

chain group in Mainland China listed on the Main Board of the Stock

Exchange (stock code: 1181), and then as a finance director for fod and

beverage division of Miramar Hotel & Investment Co., Limited, a company

listed on the Main Board of the Stock Exchange (stock code: 71).

Ms. Chan holds a bachelor’s degre in comerce acounting and a

master’s degre in finance from the Curtin University of Technology (now

known as Curtin University) in Australia.

Ms. Chan is a felow member of the Asociation of International

Acountants and a member of the Hong Kong Institute of Certified Public

Acountants.

Ms. Chan Ping, Rita

陈萍女士

谭仔国际有限公司 2024/25 年报

BOARD OF DIRECTORS AND SENIOR MANAgEMENT

董事会及高级管理层

杨少昌先生，57岁，于二零一九年一月加入本集

团担任业务发展总监。杨先生亦为本公司附属公

司谭仔环球企业管理有限公司的董事。彼于二零

二三年五月三十一日获委任为执行董事。

杨先生在餐饮业拥有超过29年业务发展经验。加

入本集团之前，彼曾在麦当劳餐厅（香港）有限公

司（现为麦当劳公司（「麦当劳」）在香港的特许经

营商）、万宁（牛奶有限公司的成员公司）及上海

麦当劳食品有限公司（现为麦当劳在中国内地的

特许经营商）任职。

杨先生持有香港岭南学院（现称岭南大学）中文学

士学位及中国内地北京大学法学士学位。

杨先生为香港房屋经理学会员及香港房屋经理

注册管理局注册专业房屋经理。彼亦为特许房屋

经理学会特许会员及皇家特许测量师学会专业会

员。

Mr. Yeung Siu Cheong (杨少昌), aged 57, joined our Group as the

busines development director in January 2019. Mr. Yeung is also a

director of TJI Global Share Service Company Limited, a subsidiary of the

Company. He was apointed as an executive Director on 31 May 2023.

Mr. Yeung has over 29 years of busines development experience in the

fod and beverage industry. Prior to joining our Group, he worked with

McDonald’s Restaurants (Hong Kong) Limited (curently a franchise of

McDonald’s Corporation (“McDonald’s”) in Hong Kong), Manings (a

member of The Dairy Farm Company Limited), and Shanghai McDonald’s

Fod Co., Ltd. (curently a franchise of McDonald’s in Mainland China).

Mr. Yeung holds a bachelor’s degre in Chinese from Lingnan Colege (now

known as Lingnan University) in Hong Kong and a bachelor’s degre in

laws from the Peking University in Mainland China.

Mr. Yeung is a member of the Hong Kong Institute of Housing and a

profesional housing manager in Hong Kong registered with the Housing

Managers Registration Board. He is also a chartered member of the

Chartered Institute of Housing and a profesional member of The Royal

Institution of Chartered Surveyors.

Mr. Yeung Siu Cheong

杨少昌先生

Tam Jai International Co. Limited Anual Report 2024/25

BOARD OF DIRECTORS AND SENIOR MANAgEMENT

董事会及高级管理层

非执行董事

染谷则史先生，49岁，于二零二年十一月一日

获委任为非执行董事。

染谷先生目前担任本公司控股东Toridol日本的

法律部门主管。彼在合约、协议、知识产权及知

识产权许可问题、诉讼、仲裁等纠纷排解以及并

购法律层面等领域拥有约22年经验。

加入Toridol日本之前，于二零三年四月至二零

零八年九月，染谷先生任职于先锋公司集团，并

借调至Pioner North America, Inc.，负责处理诉讼

事宜。于二零八年十月至二零一三年十二月，

彼任职于NT Docomo, Inc.（于东京证券交易所上

市的公司，股份代号：9437），处理各种法律、

知识产权、并购及纠纷排解（如 诉 讼 及 仲 裁）问

题。于 二 零 一 四 年 一 月 至 二 零 一 四 年 十 二

月，彼 任 职 于HEALIOS K.K.（于东京证券交易所

上市的公司，股份代号：4593），负责处理纯法

律及再生医学问题。于二零一五年一月至二零一

五年八月，彼于CMIC HOLDINGS Co., Ltd.（于东

京证券交易所上市的公司，股份代号：2309)担

任法律部门经理，负责处理各种纯法律及医学问

题。于二零一五年八月至二零一八年八月，彼于

Digital Arts Inc.（于东京证券交易所上市的公司，

股份代号：2326）担任法律部门主管，负责处理

各种法律问题。于二零一八年九月至二零二年

九月，彼于ARUHI Corporation（于东京证券交易所

上市的公司，股份代号：7198）担任法律部门主

管，负责处理各种法律及财务问题。

染谷先生于一九八年三月在日本庆应义塾大学

取得环境信息学士学位。

NON-EXECUTIVE DIRECTORS

Mr. Someya Norifumi (染谷则史), aged 49, has ben apointed as a

non-executive Director on 1 November 2022.

Mr. Someya curently serves as the head of legal department of Toridol

Japan, a controling shareholder of the Company. He has aproximately

22 years of experience in fields of contracts, agrements, intelectual

properties (“IP”) and IP licensing isues, dispute resolutions such as

litigations, arbitrations, and legal aspects of mergers and acquisitions (“M&A”),

etc.

Prior to joining Toridol Japan, from April 2003 to September 2008,

Mr. Someya worked for Pioner Corporation group on secondment to

Pioner North America, Inc., where he was responsible for handling the

litigation maters. From October 2008 to December 2013, he worked

for NT Docomo, Inc., a company listed on the Tokyo Stock Exchange

(stock code: 9437), where he handled various legal, IP, M&A and dispute

resolution (such as litigations and arbitrations) isues. From January 2014

to December 2014, he worked for HEALIOS K.K., a company listed on

the Tokyo Stock Exchange (stock code: 4593), where he was responsible

for handling purely legal and regenerative medicine isues. From January

2015 to August 2015, he worked for CMIC HOLDINGS Co., Ltd., a

company listed on the Tokyo Stock Exchange (stock code: 2309), where

he handled various purely legal and medical isues as manager of legal

department. From August 2015 to August 2018, he worked at Digital Arts

Inc., a company listed on the Tokyo Stock Exchange (stock code: 2326),

where he handled various legal isues as the head of legal department.

From September 2018 to September 2022, he worked for ARUHI

Corporation, a company listed on the Tokyo Stock Exchange (stock code:

7198), where he handled various legal and financial isues as the head of

legal department.

Mr. Someya obtained a bachelor’s degre in environmental information

from the Keio University in Japan in March 1998.

Mr. Someya Norifumi

染谷则史先生

谭仔国际有限公司 2024/25 年报

BOARD OF DIRECTORS AND SENIOR MANAgEMENT

董事会及高级管理层

波户本彻先生，49岁，自二零二四年十二月二十

日起获委任为非执行董事。

波户本先生于二零二四年加入本公司控股东

Toridol日本，目前担任Toridol日本企业规划部总

经理。波户本先生在业务发展、并购及业务转型

方面拥有超过20年经验。加入Toridol日本之前，

波户本先生曾为多家机构贡献其专业知识，包括

J Trust Co., Ltd.（于东京证券交易所上市的公司，

股份代号：8508）、Japan Display Inc.（于东京证券

交易所上市的公司，股份代号：6740）、Sompo

Japan Insurance Inc.（东京证券交易所上市公司

Sompo Holdings Inc.（股份代号：8630）的附属公

司）及Oracle Corporation Japan（于东京证券交易

所上市的公司，股份代号：4716）。

波户本先生于一九年获得日本东京大学工

程学士学位，后于二零一年获得前沿科学硕

士学位。彼亦于二零七年获欧洲工商管理学院

(INSEAD)颁发工商管理硕士学位。

Mr. Hatomoto Toru (波户本彻), aged 49, has ben apointed as a non-

executive Director with efect from 20 December 2024.

Mr. Hatomoto joined Toridol Japan, a controling shareholder of the

Company, in 2024 and is curently serving as a general manager of the

corporate planing department of Toridol Japan. Mr. Hatomoto has

over 20 years of experiences in busines development, mergers and

acquisitions, and busines transformation. Prior to joining Toridol Japan,

Mr. Hatomoto contributed his expertise to several organizations, including

J Trust Co., Ltd. (a company listed on the Tokyo Stock Exchange, stock

code: 8508), Japan Display Inc. (a company listed on the Tokyo Stock

Exchange, stock code: 6740), Sompo Japan Insurance Inc. (a subsidiary

of Sompo Holdings Inc., being a company listed on the Tokyo Stock

Exchange (stock code: 8630) and Oracle Corporation Japan (a company

listed on the Tokyo Stock Exchange, stock code: 4716).

Mr. Hatomoto received a bachelor’s degre in enginering in 1999 and a

master’s degre in frontier sciences in 2001 from the University of Tokyo in

Japan. He also received a master’s degre in busines administration from

INSEAD in 2007.

Mr. Hatomoto Toru

波户本彻先生

Tam Jai International Co. Limited Anual Report 2024/25

BOARD OF DIRECTORS AND SENIOR MANAgEMENT

董事会及高级管理层

山口聡先生，50岁，于二零二五年五月十五日获

委任为非执行董事。

山口先生于二零二零年加入本公司控股东

Toridol日本担任管理本部财务部长，现任Toridol

日本的董事、财务总监、财务本部长兼财务部

长。山口先生在制订及实施财务策略及企业规

划相关计划方面拥有超过25年的专业经验。加

入Toridol日本之前，山口先生曾为多家机构贡献

他的专业知识，包括Nipon Leasing Co., Ltd.（现

称Sumitomo Mitsui Finance and Leasing Co., Ltd.，

为Sumitomo Mitsui Financial Group, Inc.（东京证

券交易所上市公司（股份代号：80530）的附属

公司）、MP Technologies Co., Ltd.（现称Ascentec

Co., Ltd.，东京证券交易所上市公司，股份代号：

3565）、J Payment Co., LTD.、P&E Directions Co.,

Ltd及Japan Display Inc.（东京证券交易所上市公

司，股份代号：6780）。

山口聡先生于一九七年三月取得日本中央大学

会计学商学士学位。

Mr. Yamaguchi Satoshi (山口聡), aged 50, was apointed as a non-

executive Director on 15 May 2025.

Mr. Yamaguchi joined Toridol Japan, a controling shareholder of

the Company, in 2020 as general manager of finance department,

administration headquarters, and is curently serving as a director, chief

financial oficer, general manager of finance division and general manager

of finance department of Toridol Japan. Mr. Yamaguchi has over 25

years of profesional experience in the development and implementation

of initiatives related to financial strategies and corporate planing. Prior to

joining Toridol Japan, Mr. Yamaguchi contributed his expertise to several

organizations, including Nipon Leasing Co., Ltd. (curently known as

Sumitomo Mitsui Finance and Leasing Co., Ltd., a subsidiary of Sumitomo

Mitsui Financial Group, Inc., being a company listed on the Tokyo Stock

Exchange (stock code: 80530), MP Technologies Co., Ltd. (curently

known as Ascentec Co., Ltd., a company listed on the Tokyo Stock

Exchange (stock code: 3565), J Payment CO., LTD., P&E Directions

Co., Ltd and Japan Display Inc. (a company listed on the Tokyo Stock

Exchange, stock code: 6780).

Mr. Yamaguchi received a bachelor’s degre in comerce majoring in

acounting from Chuo University in Japan in March 1997.

Mr. Yamaguchi Satoshi

山口聡先生

谭仔国际有限公司 2024/25 年报

BOARD OF DIRECTORS AND SENIOR MANAgEMENT

董事会及高级管理层

Mr. Le Kwok Ming

李国明先生

独立非执行董事

李国明先生，67岁，于二零二一年九月十四日获

委任为独立非执行董事。

李先生于财务管理及企业融资方面拥有逾36年

经验。加入本集团之前，彼于二零六年六月至

二零二零年三月担任九兴控股有限公司（于联交

所主板上市的鞋履开发商及制造商，股份代号：

1836）的首席财务官，主要负责监督集团融资

事宜。

自二零三年六月起，李先生担任联华超市股

份有限公司（于联交所主板上市的中国内地超市

营运商，股份代号：980）的独立非执行董事及审

核委员会主席。自二零一八年六月起，彼担任中

国旺控股有限公司（于联交所主板上市的中国

内地食品及饮料制造商，股份代号：151）的独立

非执行董事。于二零二零年七月至二零二五年三

月，彼担任堡狮龙国际集团有限公司（于联交所

主板上市的服装品牌拥有人、零售商及特许经营

商，股份代号：592）的独立非执行董事、审核委

员会主席以及薪酬及提名委员会成员。

李先生持有香港的香港理工学院（现称香港理工

大学）会计学高级文凭及英国巴斯大学的工商管

理学硕士学位。

李先生为成本与管理会计师协会（现称英国特许

管理会计师公会）会员及香港会计师公会资深会

员。

INDEPENDENT NON-EXECUTIVE DIRECTORS

Mr. Le Kwok Ming (李国明), aged 67, was apointed as an independent

non-executive Director on 14 September 2021.

Mr. Le has over 36 years of experience in financial management and

corporate finance. Prior to joining our Group, from June 2006 to March

2020, he served as the chief financial oficer of Stela International Holdings

Limited, a fotwear developer and manufacturer listed on the Main

Board of the Stock Exchange (stock code: 1836), where he was primarily

responsible for overseing the financial maters of the group.

Since June 2003, Mr. Le has ben serving as an independent

non-executive director and chairman of the audit comite of Lianhua

Supermarket Holdings Co., Ltd., a Mainland China supermarket operator

listed on the Main Board of the Stock Exchange (stock code: 980).

Since June 2018, he has ben serving as an independent non-executive

director of Want Want China Holdings Limited, a Mainland China fod and

beverage manufacturer listed on the Main Board of the Stock Exchange (stock

code: 151). From July 2020 to March 2025, he served as an independent

non-executive director, chairman of the audit comite and a member

of the remuneration and nomination comites of Bosini International

Holdings Limited, an aparel brand owner, retailer and franchiser listed on

the Main Board of the Stock Exchange (stock code: 592).

Mr. Le holds a higher diploma in acountancy from the Hong Kong

Polytechnic (now known as the Hong Kong Polytechnic University) in Hong

Kong and a master’s of science degre in busines administration from

the University of Bath, United Kingdom.

Mr. Le is an asociate member of The Institute of Cost and Management

Acountants (curently known as The Chartered Institute of Management

Acountants) in the United Kingdom and a felow member of the Hong

Kong Institute of Certified Public Acountants.

Tam Jai International Co. Limited Anual Report 2024/25

BOARD OF DIRECTORS AND SENIOR MANAgEMENT

董事会及高级管理层

Mr. Lo Kwok Wing

卢国荣先生

卢国荣先生，57岁，于二零二一年九月十四日获

委任为独立非执行董事。

卢先生于金融业拥有逾34年经验。加入本集团之

前，彼于二零一三年九月至二零一七年五月担任

中资银行中国民生银行股份有限公司（「中国民

生银行」）的香港分行证券部主管，主要负责监督

银行股权相关事宜。于中国民生银行任职期间，

彼亦兼任中国民生银行旗下附属公司民生商银

国际控股有限公司的证券及资产管理部主管。于

二零一八年四月至二零二一年三月，彼担任香港

资产管理公司明盛资产管理（香港）有限公司的市

场、业务发展及融资部董事，主要负责制定业务

策略。

卢先生持有香港的香港大学社会科学士学位，

并获特许金融分析师学会颁发特许金融分析师资

格。

Mr. Lo Kwok Wing (卢国荣), aged 57, was apointed as an independent

non-executive Director on 14 September 2021.

Mr. Lo has over 34 years of experience in the finance industry. Prior to

joining our Group, from September 2013 to May 2017, he served as the

head of equities at China Minsheng Banking Corp., Ltd. (“China Minsheng

Bank”), a Chinese bank in Hong Kong, where he was primarily responsible

for supervising the equity-related afairs of the bank. During his tenure at

China Minsheng Bank, he also served as the head of securities and aset

management of CMBC International Holdings Limited, a subsidiary of

China Minsheng Bank. From April 2018 to March 2021, he served as a

director of marketing, busines development and finance at MSQ Aset

Management (HK) Limited, an aset management company in Hong Kong,

where he was primarily responsible for developing busines strategies.

Mr. Lo holds a bachelor’s degre in social sciences from The University

of Hong Kong in Hong Kong and is a Chartered Financial Analyst qualified

by the CFA Institute.

谭仔国际有限公司 2024/25 年报

BOARD OF DIRECTORS AND SENIOR MANAgEMENT

董事会及高级管理层

Mr. Yeung Yiu Keung

杨耀强先生

杨耀强先生，62岁，于二零二一年九月十四日获

委任为独立非执行董事。

杨先生于消费、零售、食品及饮料行业拥有近

32年经验。加入本集团之前，彼曾任职于PT

Sarimelati Kencana、Birdland Taiwan KFC、Birdland

(Hong Kong) Limited、小肥羊集团有限公司及国际

家居零售有限公司（「国际家居零售」，于联交所

主板上市的公司，股份代号：1373）、上海世好

食品有限公司（前称上海世好餐饮管理有限公司）

以及CFB集团（主要于中国内地经营Dairy Quen

及棒约翰品牌特许店和其他本地品牌的公司），

主要负责就各集团营运及管理提供战略意见及

推荐建议。于二零一年三月至二零一九年十二

月，彼于EQT Funds Management Limited（主要从

事全球投资的公司）担任行业顾问，主要负责就

食品及消费品投资公司提供意见。自二零一八年

十二月起，杨先生一直于国际家居零售担任独立

非执行董事以及审核、提名及薪酬委员会成员，

目前亦担任上海馔宝堡餐饮集团有限公司（Five

Guys Burgers and Fries在中国的特许经营商）的主

席及主要经营者。

杨先生持有美国俄勒冈大学理学士学位及美国

西北大学凯洛格管理学院与香港科技大学工商

管理学院联合颁发的工商管理硕士（管理学硕士）

学位。

Mr. Yeung Yiu Keung (杨耀强), aged 62, was apointed as an

independent non-executive Director on 14 September 2021.

Mr. Yeung has almost 32 years of experience in the consumer, retail,

fod and beverage industries. Prior to joining our Group, he served in

PT Sarimelati Kencana, Birdland Taiwan KFC, Birdland (Hong Kong)

Limited, Litle Shep Group Limited, and International Housewares Retail

Company Limited (“IH Retail”), a company listed on the Main Board of the

Stock Exchange (stock code: 1373), Shanghai Shihao Fods Co., Ltd.*

(上海世好食品有限公司) (formerly known as Shanghai Shihao Catering

Management Co., Ltd.* (上海世好餐饮管理有限公司), CFB Group,

a company principaly engaged in operating the Dairy Quen and Papa

John’s brands franchises and other local brands in the Mainland China

where he was primarily responsible for providing strategic advice and

recomendations on the operations and management of the respective

groups. From March 2011 to December 2019, he served as an industrial

adviser at EQT Funds Management Limited, a company principaly

engaged in global investment, where he was primarily responsible for

providing advice on portfolio companies relating to fod and consumer

products. Since December 2018, Mr. Yeung has ben serving as an

independent non-executive director and a member of the audit, nomination

and remuneration comites of IH Retail and curently is the Chairman

and principal operator of Jumbo Five (Shanghai) Holdings Limited — a

franchise of Five Guys Burgers and Fries in China.

Mr. Yeung holds a bachelor of science degre from the University of

Oregon in the U.S. and an executive master of busines administration

(master of management) degre jointly from J.L. Kelog Graduate Schol

of Management of Northwestern University in the United States and the

Schol of Busines and Management at Hong Kong University of Science

and Technology in Hong Kong.

Tam Jai International Co. Limited Anual Report 2024/25

BOARD OF DIRECTORS AND SENIOR MANAgEMENT

董事会及高级管理层

Mr. Lau Chi Kwan

刘次军先生

高级管理层

刘次军先生，61岁，于二零一八年十一月加入

本集团。刘先生为我们董事总经理—香港，彼主

要负责监控三哥及谭仔品牌餐厅的整体营运。

刘先生亦为我们附属公司丸龟制面（香港）有限

公司、谭仔环球发展有限公司、谭仔日式概念、

东利多和颐控股有限公司及群顺有限公司的董

事。刘先生于饮食行业拥有逾34年的经验。加入

本集团前，彼任职于香港JW万豪酒店、美心食

品有限公司、联交所主板上市公司美丽华酒店企

业有限公司（股份代号：71）集团餐饮部及大家乐

（股份代号：341）。

刘先生持有香港城市大学专业进修学院的卫生管

理基本食品卫生证书。

SENIOR MANAGEMENT

Mr. Lau Chi Kwan (刘次军), aged 61, joined our Group in November

2018. Mr. Lau is the Managing Director — Hong Kong of our Company

and he is primarily responsible for overseing the overal operations

of restaurants under the SamGor and TamJai brands. Mr. Lau is also

a director of our subsidiaries, Marugame (HK) Limited, TJI Global

Development Company Limited, TJI Japanese Concepts, Toridol and

Heyi Holding Limited and Venic Limited. Mr. Lau has over 34 years of

experience in the fod and beverage industry. Prior to joining our Group,

he worked in JW Mariot Hotel Hong Kong, Maxim’s Caterers Limited,

group fod and beverage department at Miramar Hotel and Investment

Company, Limited, a company listed on the Main Board of the Stock

Exchange (stock code: 71), and Cafe de Coral (stock code: 341).

Mr. Lau holds the basic fod hygiene certificate for hygiene manager from

the Schol of Continuing and Profesional Education of City University of

Hong Kong.

谭仔国际有限公司 2024/25 年报

BOARD OF DIRECTORS AND SENIOR MANAgEMENT

董事会及高级管理层

Mr. Wu Kwan Chung

胡君仲先生

首席人力资源官

胡君仲先生，57岁，于二零二三年五月加入本集

团担任首席人力资源官。彼亦为本公司其中一家

附属公司，谭仔环球企业管理有限公司之董事。

胡先生在快速消费品、制造及物流与供应链等多

个行业拥有超过30年的区域性人力资源策略管

理经验。在加入本集团之前，他曾担任李锦记国

际控股有限公司的全球人才资源执行副总裁，专

注于策略、人才和文化范畴。

胡先生担任扶康会董事局委员和人力资源委员会

主席，以及香港管理专业协会人才管理委员会成

员。此外，胡先生为香港董事学会资深会员及香

港人力资源管理学会资深会员。

胡先生持有香港城市大学仲裁及争议解决学硕士

学位及商业学荣誉文学士学位。

CHIEF PEOPLE OFICER

Mr. Wu Kwan Chung (胡君仲), aged 57, joined our Group as the Chief

People Oficer in May 2023. He is also a director of TJI Global Share

Service Company Limited, a subsidiary of the Company.

Mr. Wu has over 30 years of regional experience in strategic human

resources leadership in various industries acros fast moving consumer

gods (“FMCG”), manufacturing and logistics & suply chain. Prior to

joining the Group, he was the global head of human resources of Le

Kum Ke International Holdings Limited, focusing on strategy, people and

culture priorities.

Mr. Wu serves as a council member and the chairman of the Human

Resources Comite of Fu Hong Society, as wel as a member of

the People Management Comite of the Hong Kong Management

Asociation. In adition, Mr. Wu is also a felow member of the Hong Kong

Institute of Directors and a felow member of the Hong Kong Institute of

Human Resource Management.

Mr. Wu holds a master’s degre in arbitration and dispute resolutions and

bachelor’s degre in busines studies from the City University of Hong

Kong.

Tam Jai International Co. Limited Anual Report 2024/25

BOARD OF DIRECTORS AND SENIOR MANAgEMENT

董事会及高级管理层

Mr. Leung Ka Lun

梁家伦先生

首席资讯官

梁家伦先生，52岁，于二零二三年八月加入本集

团担任首席资讯官。

梁先生于香港及亚太地区的快速消费品及饮食业

累积超过20年资讯科技经验。加入本集团之前，

梁先生曾于屈臣氏集团及建华（业务）管理有限公

司等知名企业担任资讯科技主管，在数码转型、

金融科技及数据驱动商业模式等方面拥有丰富

经验。

梁先生持有香港中文大学工商管理硕士学位，并

入选二零二零至二零二一年度院长嘉许名单。

CHIEF INFORMATION OFICER

Mr. Leung Ka Lun (梁家伦), aged 52, joined our Group in August 2023

as Chief Information Oficer.

Mr. Leung has over 20 years of information technology experience in the

FMCG and fod and beverage industry in Hong Kong and the Asia Pacific

region. Prior to joining our Group, he worked as Head of Information

Technology in various renowned enterprises, including AS Watson

Group and Uni-China (Busines) Management Limited, posesing strong

experience in digital transformation, fintech and data-driven busines model.

He holds a Master’s Degre in Busines Administration from The Chinese

University of Hong Kong and was placed on the Dean’s List 2020–2021.

谭仔国际有限公司 2024/25 年报

BOARD OF DIRECTORS AND SENIOR MANAgEMENT

董事会及高级管理层

公司秘书

冼文欣女士，43岁，于二零二年五月十八日获

委任为本公司的公司秘书。彼为香港公司治理公

会员，持有商业管理学士学位及企业管治硕

士学位，于公司秘书服务领域积逾17年经验。

加入本公司之前，冼女士曾于香港多家上市公司

任职。

董事资料变更

根据上市规则第13.51B(1)条，董事资料变更载列

如下：

李国明先生，独立非执行董事，自二零二五年三

月起不再担任堡狮龙国际集团有限公司（联交所

主板上市的公司（股份代号：592），于二零二五

年三月退市）的独立非执行董事、审核委员会主

席以及薪酬委员会及提名委员会的成员。

COMPANY SECRETARY

Ms. Sin Man Yan (冼文欣), aged 43, was apointed as the company

secretary of our Company on 18 May 2022. She is an asociate member

of the Hong Kong Chartered Governance Institute. She holds a bachelor’s

degre in busines management and a master’s degre in corporate

governance. She has more than 17 years of experience in the field of

company secretarial services. Prior to joining the Company, Ms. Sin

worked for several listed companies in Hong Kong.

CHANGES IN DIRECTOR’S INFORMATION

Changes in Director’s information is set out below pursuant to Rule

13.51(B) of the Listing Rules:

Mr. Le Kwok Ming, an independent non-executive Director, has ceased

to be an independent non-executive director, chairman of the audit

comite and a member of the remuneration and nomination comites

of Bosini International Holdings Limited (a company listed on the Main

Board of the Stock Exchange (stock code: 592) and delisted in March

2025) since March 2025.

CORPORATE gOVERNANCE REPORT

企业管治报告

Tam Jai International Co. Limited Anual Report 2024/25

CORPORATE GOVERNANCE PRACTICES

The Board is comited to maintaining high corporate governance

standards.

The Board believes that high corporate governance standards are

esential in providing framework for the Company to safeguard the

interests of Shareholders, enhance corporate value, formulate its busines

strategies and policies, and enhance its transparency and acountability.

During FY2025, the Company has aplied the principles of god corporate

governance and complied with al the aplicable code provisions as set

out in Part 2 of the Corporate Governance Code contained in Apendix

C1 to the Listing Rules (the “CG Code”) , except for the deviation from

Code Provision C.2.1 for reasons set out under the section headed “Chairman

and Chief Executive” in this Corporate Governance Report.

The Board wil continue to regularly review and monitor its corporate

governance practices to ensure compliance with the CG Code as

apropriate and maintain a high standard of corporate governance

practice of the Company.

DIRECTORS’ SECURITIES TRANSACTIONS

The Company has adopted the Model Code for Securities Transactions by

Directors of Listing Isuers set out in Apendix C3 to the Listing Rules (the

“Model Code”) as the code of conduct regarding Directors’ dealings in

the securities of the Company during FY2025.

Having made specific enquiry of al the Directors, al the Directors

confirmed that they have complied with the required standards set out in

the Model Code during FY2025.

The Board has also established writen guidelines to regulate al dealings

by informed persons who are likely to be in posesion of inside

information in relation to the Company’s securities and unpublished

information as refered to code provision C.1.3 of the CG Code.

企业管治常规

董事会致力维持高水平的企业管治。

董事会认为高水平的企业管治对于为本公司提供

框架以保障股东利益、提高企业价值、制定业务

策略及政策以及提高透明度和问责制至关重要。

于二零二五财政年度，本公司已采用上市规则附

录C1所载的企业管治守则（「企业管治守则」）第

二部分载列的良好企业管治原则，并遵守所有适

用守则条文，惟偏离守则条文第C.2.1条（相关原

因载于本企业管治报告「主席及行政总裁」一节）

除外。

董事会将继续定期审查及监督其企业管治常规

（如适用），以确保遵守企业管治守则及维持本公

司的高标准企业管治做法。

董事证券交易

于二零二五财政年度，本公司已采用上市规则附

录C3所载的上市发行人董事进行证券交易的标

准守则（「标准守则」）作为董事进行本公司证券交

易的行为准则。

向所有董事作出具体询问后，所有董事确认，彼

等于二零二五财政年度内已遵守标准守则所规定

的标准。

董事会亦已制定书面指引，以规范可能掌握本公

司证券及企业管治守则守则条文第C.1.3条所述

未公布资讯的知情人士的所有交易。

谭仔国际有限公司 2024/25 年报

CORPORATE GOVERNANCE REPORT

企业管治报告

董事会

董事会组成

于二零二五财政年度及截至本年报日期，于本公

司担任董事职务的人士列于下表：

BOARD OF DIRECTORS

Board composition

During FY2025 and as of the date of this anual report, the persons who

held directorship in our Company are listed below:

Members of the BoardPosition(s)

Date of apointment

as Director

董事会成员职位委任为董事日期

Executive Directors

执行董事

Mr. Lau Tat ManExecutive Director, chief executive oficer and

chairman of our Board

1 October 2018

刘达民先生执行董事、行政总裁兼董事会主席 二零一八年十月一日

Ms. Chan Ping, RitaExecutive Director and chief financial oficer8 April 2021

陈萍女士执行董事兼首席财务官二零二一年四月八日

Mr. Yeung Siu CheongExecutive Director and managing director —

network development

31 May 2024

杨少昌先生执行董事兼董事总经理（网络发展）二零二四年五月三十一日

Non-executive Directors

非执行董事

Mr. Someya NorifumiNon-executive Director1 November 2022

染谷则史先生非执行董事二零二年十一月一日

Mr. Hatomoto Toru

(apointed on 20 December 2024)

(Note 2)

Non-executive Director20 December 2024

波户本彻先生（于二零二四年

十二月二十日获委任）

（附注2）

非执行董事二零二四年十二月二十日

Mr. Yamaguchi Satoshi

(apointed on 15 May 2025)

(Note 1)

Non-executive Director15 May 2025

山口聡先生（于二零二五年

五月十五日获委任）

（附注1）

非执行董事二零二五年五月十五日

Mr. Sugiyama Takashi

(resigned on 15 May 2025)

(Note 1)

Non-executive Director8 April 2021

杉山孝史先生（于二零二五年

五月十五日辞任）

（附注1）

非执行董事二零二一年四月八日

Mr. Tomitani Takeshi

(resigned on 20 December 2024)

(Note 2)

Non-executive Director10 June 2022

冨谷武史先生（于二零二四年

十二月二十日辞任）

（附注2）

非执行董事二零二年六月十日

Independent Non-executive Directors

独立非执行董事

Mr. Le Kwok MingIndependent non-executive Director14 September 2021

李国明先生独立非执行董事二零二一年九月十四日

Mr. Lo Kwok WingIndependent non-executive Director14 September 2021

卢国荣先生独立非执行董事二零二一年九月十四日

Mr. Yeung Yiu KeungIndependent non-executive Director14 September 2021

杨耀强先生独立非执行董事二零二一年九月十四日

Tam Jai International Co. Limited Anual Report 2024/25

CORPORATE GOVERNANCE REPORT

企业管治报告

附注：

  • ，自二零二五年五月十五日起

生效，且于同日，山口聡先生获委任为非执行董事。进一步

详情请参阅本公司日期为二零二五年五月十五日的公告。于

彼委任生效前，于二零二五年五月十三日，山口聡先生已根

据上市规则第3.09D条所述就上市规则项下适用于彼作为董

事的规定以及向联交所作出虚假声明或提供虚假资料所可

能引致的后果取得法律意见，且彼已确认明白彼作为董事的

责任。

  • ，自二零二四年十二月二十日

起生效，且于同日，波户本彻先生获委任为非执行董事。进

一步详情请参阅本公司日期为二零二四年十二月二十日的公

告。于彼委任生效前，于二零二四年十二月十七日，波户本

彻先生已根据上市规则第3.09D条所述就上市规则项下适用

于彼作为董事的规定以及向联交所作出虚假声明或提供虚假

资料所可能引致的后果取得法律意见，且彼已确认明白彼作

为董事的责任。

除本报告所披露者外，就本公司所深知，董事会

成员之间概无任何财务、商业、家庭或其他重大

或相关系。

Notes:

  • , and

on the same day, Mr. Yamaguchi Satoshi was apointed as a non-executive Director. Please

refer to the Company’s anouncement dated 15 May 2025 for further details. Mr. Yamaguchi

Satoshi has obtained the legal advice refered to in Rule 3.09D of the Listing Rules as regards

the requirements under the Listing Rules that are aplicable to him as a Director and the posible

consequences of making a false declaration or giving false information to the Stock Exchange on

13 May 2025 before his apointment becomes efective, and he has confirmed he understod

his obligations as a Director.

(2) Mr. Tomitani Takeshi resigned as a non-executive Director with efect from 20 December

2024, and on the same day, Mr. Hatomoto Toru was apointed as a non-executive Director.

Please refer to the Company’s anouncement dated 20 December 2024 for further details.

Mr. Hatomoto Toru has obtained the legal advice refered to in Rule 3.09D of the Listing Rules

as regards the requirements under the Listing Rules that are aplicable to him as a Director

and the posible consequences of making a false declaration or giving false information to the

Stock Exchange on 17 December 2024 before his apointment becomes efective, and he has

confirmed he understod his obligations as a Director.

Save as disclosed in this report, to the best knowledge of the Company,

there is no financial, busines, family, or other material or relevant

relationships among members of the Board.

谭仔国际有限公司 2024/25 年报

CORPORATE GOVERNANCE REPORT

企业管治报告

董事出席记录

各董事出席于二零二五财政年度举行的董事会

议、董事委员会议及本公司股东大会的记录列

载如下：

附注：

(1) 波户本彻先生于二零二四年十二月二十日获委任

(2) 冨谷武史先生于二零二四年十二月二十日辞任

(3) 山口聡先生于二零二五年五月十五日获委任

(4) 杉山孝史先生于二零二五年五月十五日辞任

(5) 审核委员会主席

(6) 薪酬委员会主席

(7) 提名委员会主席

Atendance records of Directors

The atendance records of each Director at the Board metings, Board

comite metings and the general metings of the Company held

during FY2025 are set out below:

Number of atendance/Number of meting(s)

出席次数╱会议次数

Board

Audit

Comite

Remuneration

Comite

Nomination

Comite

Anual

General

Meting

董事会审核委员会薪酬委员会提名委员会股东周年大会

Lau Tat Man

(7)

刘达民

(7)

4/4—2/22/21/1

Chan Ping, Rita陈萍4/4—1/1

Yeung Siu Cheong 杨少昌4/4—1/1

Sugiyama Takashi

(4)

杉山孝史

(4)

4/4—1/1

Tomitani Takeshi

(2)

冨谷武史

(2)

3/3—1/1

Someya Norifumi染谷则史4/4—1/1

Hatomoto Toru

(1)

波户本彻

(1)

1/1—

Yamaguchi Satoshi

(3)

山口聡

(3)

—

Le Kwok Ming

(5)

李国明

(5)

3/43/32/22/21/1

Lo Kwok Wing

(6)

卢国荣

(6)

4/43/32/22/21/1

Yeung Yiu Keung杨耀强4/43/32/22/21/1

Notes:

(1) Mr. Hatomoto Toru was apointed on 20 December 2024

(2) Mr. Tomitani Takeshi resigned on 20 December 2024

(3) Mr. Yamaguchi Satoshi was apointed on 15 May 2025

(4) Mr. Sugiyama Takashi resigned on 15 May 2025

(5) Chairman of the Audit Comite

(6) Chairman of the Remuneration Comite

(7) Chairman of the Nomination Comite

Tam Jai International Co. Limited Anual Report 2024/25

CORPORATE GOVERNANCE REPORT

企业管治报告

董事及管理层的责任

董事会须负责领导及控制本公司，并共同负责指

导及监管本公司事务，为全体持份者争取长远

回报。

董事会于确立与本公司文化一致的宗旨、价值观

及策略方针方面发挥主导作用。作为香港首屈一

指的餐厅营运商，本集团已建立崇尚创新、发挥

创意及乐于变革的企业文化，并始终如一地于本

集团的业务发展、本集团的日常业务经营实务以

及本集团与持份者的关系中体现。

董事会直接及间接透过其委员会领导及指导管理

层，其工作包括制定策略及监察其执行、监督本

集团营运及财务表现，以及确保设有良好的内部

监控及风险管理制度。

所有董事，包括非执行董事及独立非执行董事为

董事会提供多方面的宝贵业务经验、知识及专业

技能，令董事会得以迅速有效运作。透过积极参

与董事会议，率先管理涉及潜在利益冲突的事

务及于董事会辖下委员会服务，全体非执行董事

（包括独立非执行董事）对本公司的有效指导作出

多种贡献。

独立非执行董事负责确保本公司高标准监管报

告，并为董事会就公司活动及营运提出有效独立

判断提供平衡。

所有董事均可充分及时获取所有本公司资料，

可于适当情况下提出寻求独立专业意见之要求以

履行其于本公司的职责，费用由本公司承担。

董事须向本公司披露彼等所担任其他职务的

详情。

董事会负责决定所有重要事宜，当中涉及政策事

宜、策略及预算、内部监控及风险管理、重大交

易（尤其可能涉及利益冲突者）、财务资料、委任

董事以及本公司其他重大营运事项。董事会已将

其有关执行董事会决策、指导及协调本公司日常

营运及管理的权责授权本公司行政总裁（「行政总

裁」）刘达民先生处理。

Responsibilities of the Directors and management

The Board should asume responsibility for leadership and control of the

Company and is colectively responsible for directing and supervising the

Company’s afairs and striving for long-term return for al its stakeholders.

The Board plays a leading role in defining the purpose, values and

strategic direction of the Company which are aligned with its corporate

culture. As a leading restaurant operator in Hong Kong, the Group has

established a corporate culture which embraces inovation, creativity and

receptivenes to change. The corporate culture is reflected consistently in

the busines development of the Group, daily busines operating practices

of the Group as wel as the Group’s relation with stakeholders.

The Board directly, and indirectly through its comites, leads and

provides direction to 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.

Al Directors, including non-executive Directors and independent non-

executive Directors, have brought a wide spectrum of valuable busines

experience, knowledge and expertise to the Board for its eficient and

efective functioning. Through active participation in Board metings,

taking the lead in managing isues involving potential conflict of interest

and serving on Board comites, al non-executive Directors (including

the independent non-executive Directors) make various contributions to

the efective direction of the Company.

The independent non-executive Directors are responsible for ensuring

a high standard of regulatory reporting of the Company and providing

a balance in the Board for bringing efective independent judgement on

corporate actions and operations.

Al Directors have ful and timely aces to al the information of the

Company and may, upon request, sek independent profesional advice

in apropriate circumstances, at the Company’s expenses, for discharging

their duties to the Company.

The Directors shal disclose to the Company details of other ofices held by

them.

The Board is responsible for decision-making in al major maters relating

to policy maters, strategies and budgets, internal control and risk

management, material transactions (in particular those that may involve

conflict of interests), financial information, apointment of Directors and

other significant operational maters of the Company. The Board has

delegated its powers relating to implementing decisions of the Board,

directing and cordinating the daily operation and management of the

Company to Mr. Lau Tat Man, the chief executive oficer of the Company (the

“Chief Executive Oficer”).

谭仔国际有限公司 2024/25 年报

CORPORATE GOVERNANCE REPORT

企业管治报告

全体董事须秉承真诚并遵守适用法律及法规，

以及于任何时间按本公司及其股东的利益履行

职责。

各董事亦应妥善了解本公司的营运及业务并完全

知悉其在法例及普通法、上市规则、法律及其他

监管要求以及本公司业务及管治政策下的责任。

董事会已清楚列明管理层于代表本公司作出决定

或作出任何承诺前应向董事会报告并获得董事会

事先批准的情况。

董事会定期检讨上述情况并确保该等情况仍然

适用。

董事会亦已设立机制，确保董事会获提供独立

意见。

董事会无论何时均须至少由三名独立非执行董事

组成，占董事会成员人数至少三分之一，以使董

事会上有强大的独立元素，能够有效地作出独立

判断。

所有董事，包括独立非执行董事，均有平等机会

和渠道与董事会沟通及表达其意见，并且可以单

独和独立接触本集团管理层，以在掌握有关资料

的情况下作出决定。如有必要，将寻求独立的专

业意见，以协助相关董事履行其职责，费用由本

集团承担。董事会主席将至少每年在其他董事避

席的情况下与独立非执行董事举行一次会议，讨

论任何议题及关注事项。

若有任何董事或其联系人在董事会将予考虑的事

项中存有利益冲突，有关事项应以举行实体董事

会议（而非书面决议）方式处理。该董事将被要

求在会议前申报其利益，并放弃投票，且不会计

入法定人数及不可就相关决议案投票。在该事项

中本身及其联系人均没有利益的独立非执行董事

应出席董事会议。

董事会已检讨并认为上述机制有效确保于二零二

五财政年度董事会获提供独立意见。

The Directors shal cary out duties in god faith, in compliance with

aplicable laws and regulations, and in the interests of the Company and

the Shareholders at al times.

Each Director should also have a proper understanding of the Company’s

operations and busines and is fuly aware of his responsibilities under

statute and comon law, the Listing Rules, legal and other regulatory

requirements and the Company’s busines and governance policies.

The Board has clearly set out the circumstances under which the

management should report to and obtain prior aproval from the Board

before making decisions or entering into any comitments on behalf of

the Company.

The Board regularly reviews the above said circumstances and ensures

they remain apropriate.

The Board has also established mechanisms to ensure independent views

and input are available to the Board.

The Board shal at al times comprise at least thre independent non-

executive Directors that represent at least one-third of the number of

members of the Board, such that there is always a strong element of

independence on the Board which can efectively exercise independent

judgement.

Al the Directors, including the independent non-executive Directors,

are given equal oportunity and chanels to comunicate and expres

their views to the Board and have separate and independent aces to

the management of the Group in order to make informed decisions. If

necesary, independent profesional advice wil be sought, at the Group’s

expense, to asist the relevant Directors to discharge their duties. The

chairman of the Board wil hold metings with the independent non-

executive Directors without the involvement of other Directors at least

anualy to discus any isues and concerns.

Any Director or his/her asociate who has a conflict of interest in a mater

to be considered by the Board wil be dealt with by a physical Board

meting rather than by writen resolutions. Such Director wil be required

to declare his/her interests before the meting and abstain from voting

and he/she wil not be counted towards the quorum and may not vote on

the relevant resolutions. Independent non-executive Directors who, and

whose asociates, have no interest in the mater should atend the Board

meting.

The Board has reviewed and considered that the mechanisms are efective

in ensuring that independent views and input are provided to the Board

during FY2025.

Tam Jai International Co. Limited Anual Report 2024/25

CORPORATE GOVERNANCE REPORT

企业管治报告

本公司已就因公司活动而对董事及高级管理层所

提出的任何法律诉讼为董事及高级人员责任安

排适当的保险。保险范围将每年进行检讨。有关

保险的详情于「董事会报告」内「获准许弥偿」一段

讨论。

独立非执行董事

于二零二五财政年度，董事会在任何时候均符合

上市规则第3.10条及第3.10A条规定，即至少委

任三名独立非执行董事（占董事会成员人数的三

分之一），其中一人拥有适当的专业资格或会计

或相关财务管理专长。

确认独立非执行董事的独立性

本公司已收到各独立非执行董事根据上市规则第

3.13条的规定就其独立性而作出的年度确认函。

本公司认为全体独立非执行董事均属独立人士。

于二零二五财政年度，董事会在任何时候均符合

上市规则有关委任至少三名独立非执行董事（占

董事会成员人数的三分之一），且其中一人拥有

适当的专业资格或会计或相关财务管理专长的

规定。

本公司确认，其认为根据上市规则第3.13条，独

立非执行董事属独立人士。

董事持续专业发展

于二零二五财政年度在职的所有董事，即刘达民

先生、陈萍女士、杨少昌先生、杉山孝史先生、

冨谷武史先生、染谷则史先生、波户本彻先生、

李国明先生、卢国荣先生及杨耀强先生已遵守企

业管治守则守则条文第C.1.4条，并参与持续专

业发展，以发展及更新其知识和技能，从而确保

其对董事会的贡献保持知情及相关。

The Company has aranged apropriate insurance coverage on Directors’

and oficers’ liabilities in respect of any legal actions taken against

Directors and senior management arising out of corporate activities. The

insurance coverage would be reviewed on an anual basis. Details of the

insurance is discused in the paragraph headed “Permited Indemnity” of

the “Report of the Directors”.

Independent non-executive Directors

During FY2025, the Board had at al times met the requirements of Rules

3.10 and 3.10A of the Listing Rules relating to the apointment of at

least thre independent non-executive Directors (representing one-third

of the number of members of the Board) with one of whom posesing

apropriate profesional qualifications or acounting or related financial

management expertise.

Confirmation of independence of independent non-executive

Directors

The Company has received an anual writen confirmation from each of

the independent non-executive Directors in respect of their independence

in acordance with the requirement under Rule 3.13 of the Listing Rules.

The Company considers al independent non-executive Directors to be

independent.

During the FY2025, the Board had at al times met the requirements of

the Listing Rules relating to the apointment of at least thre independent

non-executive Directors representing one-third of the Board with one of

whom posesing apropriate profesional qualifications or acounting or

related financial management expertise.

The Company confirms that it considers the independent non-executive

Directors to be independent pursuant to Rule 3.13 of the Listing Rules.

Continuous Profesional Development of Directors

Al the Directors in ofice during FY2025, namely Mr. Lau Tat Man, Ms.

Chan Ping, Rita, Mr. Yeung Siu Cheong, Mr. Sugiyama Takashi, Mr.

Tomitani Takeshi, Mr. Someya Norifumi, Mr. Hatomoto Toru, Mr. Le

Kwok Ming, Mr. Lo Kwok Wing and Mr. Yeung Yiu Keung, have complied

with code provision C.1.4 of the CG Code and participated in continuous

profesional development to develop and refresh their knowledge and

skils, which ensures that their contribution to the Board remains informed

and relevant.

谭仔国际有限公司 2024/25 年报

CORPORATE GOVERNANCE REPORT

企业管治报告

于二零二五财政年度在职的所有董事都获得必

要的入职培训及材料，以确保彼等对本公司的营

运及业务以及其于相关法律、法规及规则下的责

任有妥当的认识。本公司将持续向董事提供有关

上市规则及其他适用监管要求的最新发展资料，

以确保彼等遵守并提高对良好企业管治常规的

认识。

主席及行政总裁

根据企业管治守则守则条文第C.2.1条，董事会

主席（「主席」）及行政总裁的角色应分开，不应由

同一人担任。主席及行政总裁的职责分工应明确

规定并以书面形式列出。

刘达民先生（「刘先生」）目前担任主席兼行政总

裁。鉴于刘先生自二零一八年十月一直承担本

集团整体管理和日常营运监督的责任，董事会认

为，由刘先生同时担任这两个角色以实现有效的

管理及营运符合本集团的最佳利益。因此，董事

认为偏离该守则条款为恰当的做法。尽管存在该

偏离，董事认为，董事会能够有效地工作并履行

其职责，并能及时讨论所有关键及适当的问题。

重选董事

根据企业管治守则守则条文第B.2.2条，所有董事

应至少每三年轮席退任一次。

本公司各非执行董事及独立非执行董事按特定

三年期委任，并须根据其各自的委任函、本公

司的组织章程细则（「章程细则」）及上市规则的条

款和条件，每三年或于当前期限届满后轮席退任

一次。

根据章程细则第111条，于各股东周年大会上，

当时三分之一的董事（或如人数不是三或三的

倍数，最接近但多于三分之一的董事）应轮值退

任，但每位董事应至少每三年轮值退任一次。退

任董事有资格膺选连任。

Al Directors in ofice during FY2025 have ben provided with necesary

induction training and materials to ensure that they have proper

understanding of the operation and busines of the Company and

their responsibilities under the relevant laws, regulations and rules. The

Company wil continue to provide updates to Directors on the latest

developments regarding the Listing Rules and other aplicable regulatory

requirements, to ensure compliance and enhance their awarenes of god

corporate governance practices.

CHAIRMAN AND CHIEF EXECUTIVE

Pursuant to code provision C.2.1 of the CG Code, the role of chairman

of the Board (the “Chairman”) and Chief Executive Oficer should be

separate and should not be performed by the same individual. The division

of responsibilities betwen the Chairman and Chief Executive Oficer

should be clearly established and set out in writing.

Mr. Lau Tat Man (“Mr. Lau”) is curently the Chairman and Chief

Executive Oficer. In view of the fact that Mr. Lau has ben asuming

the responsibilities in the overal management and supervision of the

daily operations of the Group since October 2018, the Board believes

that it is in the best interest of the Group to have Mr. Lau taking up both

roles for efective management and operations. Therefore, the Directors

consider that the deviation from such code provision is apropriate.

Notwithstanding such deviation, the Directors are of the view that the

Board is able to work eficiently and perform its responsibilities with al key

and apropriate isues discused in a timely maner.

RE-ELECTION OF DIRECTORS

Pursuant to code provision B.2.2 of the CG Code, al Directors should be

subject to retirement by rotation at least once every thre years.

Each of the non-executive Directors and independent non-executive

Directors of the Company is apointed for a specific term of 3 years and

is subject to retirement by rotation at least once every thre years or after

expiry of the then curent term, pursuant to terms and conditions of their

respective apointment leter, the articles of asociation of the Company (the

“Articles of Asociation”) and the Listing Rules.

Pursuant to Article 111 of the Articles of Asociation, at each anual

general meting, one-third of the Directors for the time being, or if their

number is not thre or a multiple of thre, the number nearest to but

greater than one-third shal retire from ofice by rotation provided that

every Director shal be subject to retirement by rotation at least once every

thre years. The retiring Directors shal be eligible for re-election.

Tam Jai International Co. Limited Anual Report 2024/25

CORPORATE GOVERNANCE REPORT

企业管治报告

根据章程细则第110条，任何获董事会委任以填

补临时空缺或加入董事会的董事须留任直至本公

司的下一个股东周年大会，而其时将符合资格重

选连任。波户本彻先生于二零二四年十二月二十

日获委任为非执行董事及山口聡先生于二零二五

年五月十五日获委任为非执行董事。因此，波户

本彻先生及山口聡先生均须退任，且符合资格并

有意膺选连任。

基于前述规定，陈萍女士、染谷则史先生、李国

明先生、波户本彻先生及山口聡先生须轮值退

任，并符合资格及愿意于本公司应届股东周年大

会（「股东周年大会」）上膺选连任。

董事委员会

董事会设立三个委员会，即薪酬委员会、提名委

员会及审核委员会，负责监督公司事务的特定方

面。本公司所有的董事会委员会均订有具体的

书面职权范围，解释其角色、许可权及职责。董

事委员会的职权范围可在联交所及本公司网站

查阅。

薪酬委员会

薪酬委员会由四名成员组成，即执行董事刘先生

及独立非执行董事卢国荣先生、李国明先生及杨

耀强先生，其中卢国荣先生为主席。

薪酬委员会的主要职责包括但不限于：

(i)就本公司所有董事及高级管理层的薪酬政策及

架构，以及就制定薪酬政策的正式及透明程序向

董事会提出建议；(i)就本公司董事及高级管理层

的薪酬待遇向本公司董事会提出建议；(i)参照董

事会的企业目标及宗旨，审阅及批准管理层的薪

酬建议；及(iv)根据上市规则第17章审阅及╱或批

准有关股份计划的事宜（如有）。

Pursuant to Article 110 of the Articles of Asociation, any Directors

apointed by the Board to fil a casual vacancy or as an adition to the

Board, shal hold ofice only until the next folowing anual general meting

of the Company and shal then be eligible for re-election. Mr. Hatomoto

Toru was apointed as a non-executive Director on 20 December

2024 and Mr. Yamaguchi Satoshi was apointed as a non-executive

Director on 15 May 2025. Acordingly, each of Mr. Hatomoto Toru and

Mr. Yamaguchi Satoshi shal retire and being eligible, intend to ofer

themselves for re-election.

In light of the foregoing requirements, Ms. Chan Ping Rita, Mr. Someya

Norifumi, Mr. Le Kwok Ming, Mr. Hatomoto Toru and Mr. Yamaguchi

Satoshi shal retire by rotation and, being eligible, have ofered themselves

for re-election at the forthcoming anual general meting of the Company (the

“AGM”).

BOARD COMITES

The Board has established thre comites, namely, the Remuneration

Comite, the Nomination Comite and the Audit Comite,

for overseing particular aspects of the Company’s afairs. Al Board

comites of the Company are established with specific writen terms

of reference explaining their roles, authorities and duties. The terms of

references of the Board comites are available on the websites of the

Stock Exchange and the Company.

Remuneration Comite

The Remuneration Comite comprises four members, namely Mr. Lau,

an executive Director, and Mr. Lo Kwok Wing, Mr. Le Kwok Ming and

Mr. Yeung Yiu Keung, al being independent non-executive Directors, with

Mr. Lo Kwok Wing as the chairman.

The primary duties of the Remuneration Comite include but are not

limited to:

(i) making recomendations to the Board regarding the policy and

structure for the remuneration of al the Directors and senior management

and on the establishment of a formal and transparent procedure

for developing remuneration policies; (i) making recomendations

to the Board on the remuneration packages of the Directors and

senior management; (i) reviewing and aproving the management’s

remuneration proposals with reference to the Board’s corporate goals and

objectives; and (iv) reviewing and/or aproving maters relating to share

schemes under Chapter 17 of the Listing Rules, if any.

谭仔国际有限公司 2024/25 年报

CORPORATE GOVERNANCE REPORT

企业管治报告

于二零二五财政年度，薪酬委员会举行两次会

议，以履行其职责，包括讨论及审阅本公司董事

及高级管理层的薪酬政策、评估执行董事的表

现，以及就个别董事和高级管理层的薪酬组合向

董事会提供建议。薪酬委员会成员于二零二五财

政年度的出席记录载于本报告「董事出席记录 —

董事会」一段。

提名委员会

提名委员会由五名成员组成，即均为执行董事的

刘先生及陈萍女士（于二零二五年六月二十七日

获委任），以及独立非执行董事李国明先生、卢

国荣先生及杨耀强先生，其中刘先生为主席。

提名委员会的主要职责包括但不限于：

(i)检讨董事会的架构、人数及组成（包括技能、

知识和经验）；(i)协助董事会维持董事会技能矩

阵；(i)就任何建议调整向董事会提出符合本公司

企业策略之推荐意见；(iv)评估独立非执行董事的

独立性；(v)就董事会成员的委任或续任向董事会

提出建议；及(vi)支援本公司对董事会绩效的定期

评估。

于二零二五财政年度，提名委员会举行两次会

议，以履行其职责，包括检讨及讨论提名政策、

提名董事的程序和标准，检讨及讨论董事会多元

化政策，并讨论为实施该政策而设定的所有可衡

量目标及所取得的进展，检讨董事会及其属下委

员会的架构和组成，考虑董事的委任及重新委

任，并就此向董事会作出推荐建议，以及评估独

立非执行董事的独立性。提名委员会认为董事会

的多元化观点已维持适当的平衡。提名委员会成

员于二零二五财政年度的出席记录载于本报告

「董事出席记录 — 董事会」一段。

During FY2025, the Remuneration Comite held two metings to

discharge its duties including discused and reviewed the remuneration

policy for the Directors and senior management of the Company, asesed

performance of the executive Directors, and made recomendations to

the Board on the remuneration packages of individual Directors and senior

management. The atendance record of the Remuneration Comite

members during FY2025 is set out in the paragraph “Atendance records

of Directors — Board of Directors” of this report.

Nomination Comite

The Nomination Comite comprises five members, namely Mr. Lau and

Ms. Chan Ping, Rita (apointed on 27 June 2025), both being executive

Directors, and Mr. Le Kwok Ming, Mr. Lo Kwok Wing and Mr. Yeung Yiu

Keung, al being independent non-executive Directors, with Mr. Lau as the

chairman.

The primary duties of the Nomination Comite include but are not

limited to:

(i) review the structure, size and composition (including the skils,

knowledge and experience) of the Board; (i) asist the Board in

maintaining a Board skils matrix; (i) make recomendations on any

proposed changes to the Board to complement the Company’s corporate

strategy; (iv) ases the independence of independent non- executive

Directors; (v) make recomendations to the Board on the apointment or

re-apointment of members of the Board; and (vi) suport the Company’s

regular evaluation of the Board’s performance.

During FY2025, the Nomination Comite held two metings to

discharge its duties including reviewed and discused the nomination

policy, procedures and criteria for nomination of the Directors, reviewed

and discused the Board diversity policy and discused al measurable

objectives set for implementation thereof and the progres made, reviewed

the structure and composition of the Board and its comites, and

considered and made recomendation to the Board on the apointment

and re-apointment of Directors, and asesed the independence

of independent non-executive Directors. The Nomination Comite

considered an apropriate balance of diversity perspectives of the Board

is maintained. The atendance record of the Nomination Comite

members during FY2025 is set out in the paragraph “Atendance records

of Directors — Board of Directors” of this report.

Tam Jai International Co. Limited Anual Report 2024/25

CORPORATE GOVERNANCE REPORT

企业管治报告

提名政策

董事会已经采纳提名政策，列明委任及重新委任

董事的甄选标准及程序。

甄选标准

评估建议候选人的合适性时，提名委员会将考虑

多种因素，包括但不限于：

  • ；
  • 、相关技能、经验和知识；
  • ；
  • ；及
  • ，根据上

市规则第3.13条规定的独立性。

上文并无尽列所有因素，该等因素亦不具决定性

作用。提名委员会对甄选标准有最终决定权。

提名程序

提名建议候选人的程序如下：

  • ；
  • ；
  • ，并提出建议供董

事会考虑和批准；

  • （如适用）；
  • ，检讨候选

人的整体贡献及表现，并向董事会及╱或

股东提出建议，供其在股东大会上重选时

考虑；及

  • ，考虑委任或重新委任候

选人为董事。

提名委员会应定期或根据需要检讨提名政策并评

估其有效性。

Nomination Policy

The Board has adopted a nomination policy which sets out the selection

criteria and procedure of apointing and re-apointing a Director.

Selection Criteria

In asesing the suitability of a proposed candidate, the Nomination

Comite would consider a variety of factors including but not limited to:

  • ;
  • , relevant skil, experience and knowledge;
  • ;
  • ; and

• independence with reference to the requirements under Rule 3.13

of the Listing Rules in case of the apointment or re-apointment of

independent non-executive Director.

The above factors are not exhaustive and conclusive. The Nomination

Comite has the final discretion to the selection criteria.

Nomination Procedure

The procedure of nominating a proposed candidate is as folows:

• nomination and invitation of suitable candidates by Nomination

Comite;

  • ;

• performing due diligence in respect of the candidate and making

recomendation for the Board’s consideration and aproval;

  • ;
  • , reviewing

the candidate’s overal contribution and performance and making

recomendations to the Board and/or the Shareholders for

consideration in conection with his/her re-election at general

metings; and

• convening a meting of the Board to consider the apointment or

re-apointment of the candidate as a Director.

The Nomination Comite shal review the nomination policy and ases

its efectivenes on a regular basis or as required.

谭仔国际有限公司 2024/25 年报

CORPORATE GOVERNANCE REPORT

企业管治报告

董事会多元化政策

董事会已采纳董事会多元化政策，当中列载达致

董事会多元化的目标及方法。本集团深明拥有多

元董事会的益处及认为提高董事会层面的多元化

水平是支持本集团达成策略目标及可持续发展

的关键元素。本集团拟通过考虑多项因素达致董

事会多元化，包括但不限于专业经验、技能、知

识、教育背景、性别、年龄及种族。

提名委员会将不时及至少每年一次审阅董事会多

元化政策及其实施情况，以确保其落实及监控其

持续有效性。提名委员会将会讨论及协定达致董

事会多元化的可计量目标（如需要），并就该等目

标向董事会提出建议以供采纳。

董事会多元化的可衡量目标

董事具备比例均衡的经验，包括整体管理、品

牌改进、业务发展、法律、金融、审核及会计经

验。于二零二五年三月三十一日，董事年龄介乎

49岁至67岁。提名委员会已就董事会多元化政策

进行年度检讨，以确保其成效。检讨结果令人满

意。提名委员会及董事会认为董事会目前的组成

足够多元化，已达到董事会多元化政策所载的目

标，并为本公司提供均衡的技能、经验及多元化

观点以符合业务所需。

Board Diversity Policy

The Board has adopted a board diversity policy which sets out the

objective and aproach to achieve Board diversity. The Group recognises

the benefits of having a diversified Board and ses increasing diversity at

the Board level as an esential element in suporting the atainment of

the Group’s strategic objectives and sustainable development. The Group

seks to achieve diversity of the Board through the consideration of a

number of factors, including but not limited to profesional experience,

skils, knowledge, education background, gender, age and ethnicity.

The Nomination Comite wil review the board diversity policy and its

implementation from time to time and at least once anualy to ensure its

implementation and monitor its continued efectivenes. The Nomination

Comite would discus and agre on measurable objectives for

achieving diversity on the Board, where necesary, and recomend them

to the Board for adoption.

Measurable objectives of board diversity

Measurable objectivesProgres for achieving objectives

可衡量目标达成目标的进展

Report anualy on the outcome of the composition

and structure of the Board

Remain comited

每年就董事会的组成及结构结果报告保持承诺

Our Directors have a balanced mix of experiences, including overal

management, brand improvement, busines development, legal, finance,

auditing and acounting experiences. As at 31 March 2025, the ages of

our Directors ranged from 49 years old to 67 years old. The Nomination

Comite has conducted an anual review of the Board Diversity

Policy to ensure its efectivenes. The review results are satisfactory.

The Nomination Comite and the Board consider that the curent

composition of the Board is suficiently diverse and has met the objectives

set out in the Board Diversity Policy and provided the Company with a

god balance of skils, experience and diversity of perspectives apropriate

to the requirements of its busines.

Tam Jai International Co. Limited Anual Report 2024/25

CORPORATE GOVERNANCE REPORT

企业管治报告

性别多元化

本公司重视本集团各层级的性别多元化。考虑到

本集团的业务模式及特定需求，以及于二零二五

年三月三十一日在合共九名董事会成员中有一名

女性董事，董事会认为目前董事会的性别多元化

情况令人满意。

董事会于未来委任董事会成员时，将继续推动性

别多元化，惟并未就进一步提升性别多元化订立

特定目标或时间表，因为董事会认为于甄选董事

候选人时，应整体考虑各方面的多元化情况。董

事会层面的性别多元化方针亦同样适用于本集团

的员工（包括高级管理层）。下表载列于本年报日

期本集团员工（包括董事会及高级管理层）的性别

比例：

本公司积极寻求确保其具备适当的多元性，并已

实施若干倡议，以符合其战略要旨，确保拥有适

当多元化的董事会。本公司将确保在招聘中高层

人员时顾及性别多元化，考虑能否提名具有所需

技能及经验的女性管理人员进入董事会，并确保

有足够资源提供适当的培训及职业发展，为董事

会培养女性继任人梯队，以维持或改善目前董事

会层面的性别比例，惟前提是有合适的候选人，

并且在按照为本公司业务的最佳利益而设计的

甄选标准进行合理的审查程序后，董事对相关候

选人的资历及经验感到满意。董事会的目标是

至少维持当前水平（即董事会至少包括一名女性

代表）。

Gender Diversity

The Company values gender diversity acros al levels of the Group.

Taking into acount the Group’s busines model and specific neds as

wel as the presence of one female Director out of a total of nine Board

members as at 31 March 2025, the Board considers that the curent

gender diversity in the Board is satisfactory.

The Board wil continue to embrace gender diversity when making future

board apointments but no specific targets or timelines to further enhance

gender diversity have ben set as the Board is of the view that al aspects

of diversity should be considered as a whole in the selection of candidates

for directorship. The same aproach to gender diversity at the Board level

also aplies to the Group’s workforce, including its senior management.

The folowing table sets out the gender ratio in the workforce of the Group,

including the Board and senior management as at the date of this anual

report:

Female

Percentage

Male

Percentage

女性百分比男性百分比

Board董事会11.1%88.9%

Senior Management高级管理层0%100%

Other employes其他雇员82.4%17.6%

Overal (Directors included)整体（包括董事）82.1%17.9%

The Company actively seks to ensure it has an apropriate mix of

diversity and has a number of initiatives in place to met its strategic

imperative of ensuring it has a Board with apropriate diversity. The

Company wil ensure that gender diversity is taken into acount when

recruiting staf members of mid to senior level, consider the posibility of

nominating female management staf who has the necesary skils and

experience to the Board, and ensure that suficient resources are available

for providing apropriate trainings and carer development to develop

a pipeline of potential female sucesors to the Board, with an aim to

maintain or improve the curent gender mix at the Board level, subject to

there being suitable candidates and the Directors being satisfied with the

qualification and experience of the relevant candidates after a reasonable

review proces based on selection criteria designed with the best interests

of the Company’s busines in mind. The Board targets to maintain at least

the curent level of at least one female representation at the Board.

谭仔国际有限公司 2024/25 年报

CORPORATE GOVERNANCE REPORT

企业管治报告

雇员多元化

本集团在招聘中秉持公平自愿的原则，对性别、

种族、国籍及宗教并无设下任何限制性要求。于

二零二五年三月三十一日，本集团雇员（包括高

级管理层）的指标载列如下：

本集团鼓励职场实现性别多元化并致力维持各

职级雇员具有适当的性别比例。举例而言，餐饮

行业的就业情况反映了在传统上以女性为主导的

领域，性别定型之观念根深蒂固。本集团正努力

克服此等障碍，例如在多个平台增加招聘广告，

以接触更广泛更多样化的受众。为实现员工层面

（包括高级管理层）的多元化，本集团已制定适当

的招聘及遴选实务方法，以考虑广泛类别的候选

人。本集团亦已设立人才管理及培训计划，提供

职业发展指南及晋升机会，以培养一批具有多元

技能和丰富经验的员工。

审核委员会

审核委员会由三名成员组成，即李国明先生、卢

国荣先生及杨耀强先生，彼等全部为独立非执行

董事，其中李国明先生为主席。

Employe Diversity

The Group insists on the principle of fairnes and voluntarines in

recruitment, and does not impose any restrictive requirements on gender,

ethnicity, nationality and religion. As at 31 March 2025, the indicators on

the employes of the Group, including senior management, are set out

below:

As at 31 March 2025

于二零二五年

三月三十一日

Percentage of total

number of employes

Indicator指标占雇员总数百分比

Male employes 男性雇员17.9%

Female employes女性雇员82.1%

Employes aged 30 or below 30岁或以下的雇员16.1%

Employes aged betwen 31 to 5031至50岁的雇员48.4%

Employes aged 51 or above51岁或以上的雇员35.5%

The Group encourages gender diversity acros its workplace and is

comited to maintaining an apropriate gender ratio of employes at

al levels. The employment profile of the fod and beverage industry, for

example, reflects entrenched gender stereotypes in their traditionaly

female-dominated fields. The Group is working hard to overcome these

bariers such as increased job advertisements acros a broader range of

platforms to reach a wider, more diverse audience. To achieve diversity at

the workforce level (including senior management), the Group has put in

place apropriate recruitment and selection practices such that a diverse

range of candidates are considered. The Group has also established

talent management and training programs to provide carer development

guidance and promotion oportunities to develop a broad and diverse

pol of skiled and experienced employes.

Audit Comite

The Audit Comite comprises thre members, namely Mr. Le Kwok

Ming, Mr. Lo Kwok Wing and Mr. Yeung Yiu Keung, al of them are

independent non-executive Directors, with Mr. Le Kwok Ming as the

chairman.

Tam Jai International Co. Limited Anual Report 2024/25

CORPORATE GOVERNANCE REPORT

企业管治报告

审核委员会的主要职责包括（其中包括）：

(i)审阅本公司的财务报表、报告，并于向董事会

提呈前考虑由外聘核数师提出的任何重大或不

寻常事项；(i)参考外聘核数师履行工作的表现，

检讨及监管与本公司外聘核数师的关系、其聘任

薪酬和条款，并就委任、重新委任及罢免外聘核

数师，向董事会作出建议；(i)检讨本公司财务监

控、内部监控系统、风险管理系统及相关程序是

否足够和有效；(iv)制定及检讨本集团的企业管治

政策及常规，并向董事会作出建议；及(v)履行董

事会可能委派的其他职责及责任。

于二零二五财政年度，审核委员会举行三次会

议，以履行其职责，包括审阅二零二四财政年度

的末期业绩、截至二零二四年九月三十日止六个

月的中期业绩、关于财务报告、营运和合规控制

的重大事宜、风险管理和内部监控系统及内部审

计职能的有效性、外部核数师的委任以及相关工

作范围、关连交易以及雇员对可能的不当行为提

出质疑的安排。审核委员会已经获提供足够的资

源以履行其职责。审核委员会成员于二零二五财

政年度的出席记录载于本报告「董事出席记录 —

董事会」一段。

企业管治职能

董事会负责履行企业管治守则守则条文第A.2.1

条规定的企业管治职能。

董事会负责审阅本公司的企业管治政策及常规、

董事及高级管理层的培训及持续专业发展、本公

司遵守法律及监管规定的政策及常规，以及本公

司遵守行为守则、企业管治守则、合规手册及本

企业管治报告的披露。董事会已在二零二五财政

年度履行上述职责。

The primary duties of the Audit Comite include, among others:

(i) to review the financial statements and reports of the Company and

consider any significant or unusual items raised by the external auditor

before submision to the Board; (i) to review and monitor the relationship

with the external auditor of the Company by reference to the work

performed by the external auditor, their fes and terms of engagement,

and make recomendations to the Board on the apointment, re-

apointment and removal of external auditor; (i) to review the adequacy

and efectivenes of the Company’s financial controls, internal control

system, risk management system and the asociated procedures; (iv) to

develop and review the Company’s policies and practices on corporate

governance and make recomendations to the Board; and (v) to perform

other duties and responsibilities as may be asigned by the Board.

During FY2025, the Audit Comite held thre metings to discharge its

duties including to review the final results for FY2024, the interim results

for the six months ended 30 September 2024, the significant isues on the

financial reporting, operational and compliance controls, the efectivenes

of the risk management and internal control systems and internal audit

function, the apointment of external auditor and relevant scope of

works, conected transactions and arangements for employes to raise

concerns about posible improprieties. The Audit Comite has ben

provided with suficient resources to discharge its duties. The atendance

record of the Audit Comite members during FY2025 is set out in the

paragraph “Atendance records of Directors — Board of Directors” of this

report.

Corporate Governance Functions

The Board is responsible for performing the corporate governance

functions set out in code provision A.2.1 of the CG Code.

The Board is responsible for reviewing the Company’s corporate

governance policies and practices, training and continuous profesional

development of Directors and senior management, the Company’s policies

and practices on compliance with legal and regulatory requirements, and

the Company’s compliance with the code of conducts, the CG Code, the

compliance manual and disclosure in this Corporate Governance Report.

The Board has performed the above duties for FY2025.

谭仔国际有限公司 2024/25 年报

CORPORATE GOVERNANCE REPORT

企业管治报告

核数师薪酬

下表列载就本公司核数师毕马威会计师事务所于

二零二五财政年度提供的核数及非核证服务已

付╱应付费用详情：

附注：

就非核证服务付出的酬金包括税务相关服务的458,000港元，环境、

社会及管治相关顾问服务的99,000港元、审阅中期业绩的300,000港

元以及其他顾问服务的115,000港元。

董事就财务报表的责任

董事知悉彼等就编制本公司二零二五财政年度的

账目及财务报表的责任，确保有关财务报表真实

公平地反映本集团的状况以及遵守相关法定及监

管规定以及适用会计准则。

董事不知悉有任何重大不确定因素与可能会对本

公司持续经营的能力产生重大疑问的事件或条件

有关。

外聘核数师毕马威会计师事务所就其对综合财务

报表的报告责任发表的声明载于第89至96页的

独立核数师报告并经董事会批准。

公司秘书

根据上市规则第3.29条，本公司的公司秘书确

认，彼于二零二五财政年度已接受不少于15个小

时的相关专业培训。

AUDITORS’ REMUNERATION

The table below sets out details of fes paid/payable for audit and non-

asurance services provided by KPMG, the auditor of the Company, for

FY2025:

Fes paid and

payables

Services provided to the Company向本公司提供的服务已付及应付费用

HK$’000

千港元

Audit services核数服务2,728

Non-asurance services

(Note)

非核证服务

（附注）

Total总计3,700

Note:

The remuneration for non-asurance services includes tax related service of HK$458,000, environmental,

social and governance related consultancy service of HK$99,000, review of interim results of HK$300,000

and other consultancy services of HK$115,000.

DIRECTORS’ RESPONSIBILITY IN RESPECT OF

FINANCIAL STATEMENTS

The Directors acknowledge their responsibility for preparing the acounts

and financial statements of the Company for FY2025 with a view of

ensuring that such financial statements give a true and fair view of the state

of afairs of the Group and relevant statutory and regulatory requirements

and aplicable acounting standards are complied with.

The Directors are not aware of any material uncertainties relating to events

or conditions that may cast significant doubt upon the Company’s ability

to continue as a going concern.

A statement by the external auditors, KPMG, about their reporting

responsibility on the consolidated financial statements is set out in the

independent auditors’ report on page 89 to page 96 and acknowledged

by the Board.

COMPANY SECRETARY

In compliance with Rule 3.29 of the Listing Rules, the company secretary

of the Company confirmed that for FY2025, she had taken no les than 15

hours of relevant profesional training.

Tam Jai International Co. Limited Anual Report 2024/25

CORPORATE GOVERNANCE REPORT

企业管治报告

股东权利

召开股东特别大会及在股东大会上提出建议

根据章程细则第62条，董事可在其认为合适的时

候，并应根据公司条例（香港法例第622章）（「公

司条例」）的要求，召开股东特别大会。根据公司

条例第566条，代表所有权在本公司股东大会

上投票的股东总投票权不少于5%的任何一位或

多位股东的要求下可召开特别股东大会。该要

求应以书面形式向本公司提出，并说明将在会议

上处理的事务的一般性质。根据公司条例第567

条，董事须在彼等须遵守规定起计二十一天内召

开股东大会，而该召开之会议须在召开该会议之

通知发出日期起计不多于二十八天内举行。倘董

事未能如此行事，请求人可自行召开大会，但该

会议须在董事须遵守规定召开会议当日起计不多

于三个月内召开。本公司须因董事未能正式召开

会议而补偿该等请求人所产生之任何合理费用。

此外，公司条例第615条规定，(i)占全体有权就

该决议案表决的股东的总表决权至少2.5%的股

东；或(i)至少50名有权就该决议案表决的股东最

迟应于下列时间前透过将书面请求发送至注册

办事处（注明公司秘书收启）或透过电邮发送至

info@tamjai-intl.com，于本公司股东周年大会上提

出建议以供考虑：

(a) 于请求所关乎的股东周年大会举行前的六

个星期；或

(b) （如于上述时间之后）于股东周年大会通知

发出时。

书面请求须注明所提呈的决议案并由全体相关股

东签署。

SHAREHOLDERS’ RIGHTS

Convening of Extraordinary General Meting and Puting

Forward Proposals at Shareholders’ Metings

Under Article 62 of the Articles of Asociation, the Directors may,

whenever they think fit, and shal on requisition in acordance with

the Companies Ordinance (Cap. 622 of the Laws of Hong Kong) (the

“Companies Ordinance”), convene an extraordinary general meting.

Pursuant to Section 566 of the Companies Ordinance, an extraordinary

general meting can be convened on the requisition of any one or more

Shareholders representing not les than 5% of the total voting rights of al

Shareholders having a right to vote at general metings of the Company.

Such requisition shal be made in writing to the Company stating the

general nature of the busines to be dealt with at the meting. Pursuant to

Section 567 of the Companies Ordinance, the Directors must cal a general

meting within 21 days after the date on which they become subject to

the requirement and the meting so caled must be held on a date not

more than 28 days after the date of the notice convening the meting. If

the Directors do not do so, the requisitionist(s) himself (themselves) may

do so in the same maner, but the meting must be caled for a date not

more than 3 months after the date on which the Directors become subject

to the requirement to cal a meting. Al reasonable expenses incured by

the requisitionist(s) as a result of the failure of the Directors duly to cal the

meting shal be reimbursed by the Company.

Aditionaly, Section 615 of the Companies Ordinance provides that (i)

Shareholder(s) representing at least 2.5% of the total voting rights of al the

Shareholders having the right to vote on that resolution, or (i) at least 50

Shareholders entitled to vote on that resolution, can put forward proposals

for consideration at an anual general meting of the Company by

sending a request in writing to the registered ofice for the atention of the

Company Secretary or by electronic mail to info@tamjai-intl.com no later

than:

(a) six weks before the anual general meting to which the request

relates; or

(b) if later, when the notice of anual general meting is despatched.

The writen request must identify the proposed resolution and be signed

by al the Shareholders concerned.

谭仔国际有限公司 2024/25 年报

CORPORATE GOVERNANCE REPORT

企业管治报告

向董事会作出查询

股东如欲向本公司董事会作出任何查询，可将书

面查询寄送至本公司在香港的主要营业地点的下

列地址：

香港九龙长沙湾长义街9号D2 Place ONE 8楼（注

明收件人为公司秘书）。

为免生疑问，本公司通常不会处理口头或匿名查

询，股东须向本公司在香港的主要营业地点存

放及发送经正式签署的书面要求原件、通知或声

明，或查询（视情况而定），并提供彼等的全名、

联系方式及身份证明，以便生效。股东资料可根

据法律规定予以披露。

股东通讯及投资者关系

章程文件

于二零二五财政年度，本公司并无对章程细则作

出任何改动 。章程细则可于本公司网站(htps:/

tamjai-intl.com/cn)及联交所网站(w.hkexnews.

hk)查阅。

电子通讯

为促进有效沟通 ，本公司设有网站(htps:/tamjai-

intl.com/cn)，以刊登最新资讯以及本公司财务资

料、企业管治常规、董事会成员的履历资料及其

他资料的更新，以供公众查阅。

Puting Forward Enquires to the Board

For puting forward any enquiries to the Board of the Company,

Shareholders may send their enquiries to the Company in writing to

the principal place of busines of the Company in Hong Kong, which is

curently at the folowing adres:

8th Flor of D2 Place ONE, No.9 Cheung Ye Stret, Cheung Sha Wan,

Kowlon, Hong Kong (For atention to the Company Secretary).

For avoidance of doubt, the Company wil not normaly deal with verbal

or anonymous enquiries, and Shareholders must deposit and send the

original duly signed writen requisition, notice or statement, or enquiries

(as the case may be) to the principal place of busines of the Company in

Hong Kong and provide their ful name, contact details and identification in

order to give efect thereto. Shareholders’ information may be disclosed as

required by law.

COMUNICATIONS WITH SHAREHOLDERS AND

INVESTORS RELATIONS

Constitutional documents

During FY2025, the Company has not made any changes to the Articles

of Asociation. The Articles of Asociation are available at the websites of

the Company (htps:/tamjai-intl.com/en) and the Stock Exchange (w.

hkexnews.hk).

E-comunication

To promote efective comunication, the Company maintains a website

htps:/tamjai-intl.com/en, where up-to-date information and updates on

the Company’s financial information, corporate governance practices,

biographical information of the Board members and other information are

available for public aces.

Tam Jai International Co. Limited Anual Report 2024/25

CORPORATE GOVERNANCE REPORT

企业管治报告

股东沟通政策

本公司认为，与股东的有效沟通对于加强投资者

关系以及投资者对本集团业务表现及策略的了

解至关重要。本公司已采纳股东沟通政策（「股东

沟通政策」），其旨在载列董事会以平等及时的方

式向本公司股东及其他持份者（包括潜在投资者）

提供有关本公司的资料的方法。本公司尽力持续

与股东保持对话，并已设立各种与股东沟通的渠

道，包括股东大会、年度业绩和中期业绩、年度

和中期报告、公告和通函以及业绩发布会。公司

网站经已定期更新，提供全面方式取得本公司的

最新发展情况、企业管治、企业通讯、可持续刊

物及焦点里程碑。为促进本公司与投资者之间的

沟通，本公司不时与举行投资者及分析师会议、

简报会及路演。股东亦可透过上述的其他渠道向

本公司作出查询，并随时向董事或管理层提供意

见与建议。在收到股东的书面查询后，本公司会

尽合理努力，尽快向股东作出回应。我们每年审

阅股东沟通政策的实施情况及成效，以及各种沟

通方式的使用情况。经我们于二零二五财政年度

进行审阅后，本公司认为其股东沟通政策为本公

司（包括董事会及管理层）与股东之间持续沟通提

供充足的机会及途径，而于二零二五财政年度实

施的股东沟通政策属有效。

Shareholders Comunication Policy

The Company considers that efective comunication with Shareholders

is esential for enhancing investor relations and investors’ understanding

of the Group’s busines performance and strategies. The Company has

adopted a shareholders’ comunication policy (the “Shareholders’

Comunication Policy”), which aims to set out the aproach of the

Board to provide Shareholders of the Company and other stakeholders (including

potential investors) information about the Company, in an equal and timely

maner. The Company endeavours to maintain an on-going dialogue with

Shareholders and the Company has established various comunication

chanels with Shareholders, including general meting, anual results and

interim results, anual and interim reports, anouncements and circulars

and performance conference. Our corporate website has ben regularly

updated to provide comprehensive aces to recent development of the

Company, corporate governance, corporate newsleters, sustainability

publications, and noteworthy milestones. To facilitate the comunication

betwen the Company and investors, the Company holds metings,

briefings and roadshows with investors and analysts from time to time.

Shareholders may also make enquires with the Company through other

chanels mentioned above, and provide coments and recomendations

to the Directors or managements at any time. Upon receipt of writen

enquiries from a Shareholder, the Company wil use reasonable

endeavours to respond to the Shareholder as son as posible. We

anualy review the implementation and efectivenes of the Shareholders’

Comunication Policy and the use of various comunication chanels.

Folowing our review during FY2025, the Company considers its

Shareholders’ Comunication Policy provides suficient oportunity and

avenues for ongoing comunication betwen the Company (including the

Board and management) and our Shareholders, and the implementation of

the Shareholders’ Comunication Policy during FY2025 was efective.

谭仔国际有限公司 2024/25 年报

CORPORATE GOVERNANCE REPORT

企业管治报告

股息政策

董事会可酌情不时向股东宣派股息，惟须遵守章

程细则及所有适用法律及法规。根据章程细则，

宣派任何年度末期股息须经股东在股东大会上通

过普通决议案，而董事可不时决议向股东派付董

事认为合理的中期股息。

于二零二一年九月十四日，董事会决定采纳股息

政策，规定董事会向本公司股东宣派及支付股息

的条件。

基于我们的股息政策，我们目标为就各财政年度

支付不少于拥有人应占溢利30%的总股息。推荐

派付任何股息时，董事会通常会考虑多种因素，

包括但不限于：

  • ；

i. 财务表现；

i. 盈利能力；

iv. 业务发展；

  • ；

vi. 资本要求；及

vi. 经济前景。

概无法保证我们将能够按董事会任何计划所载的

金额宣派或分派任何股息，或根本无法宣派或分

派任何股息。股息政策不时经审阅，而宣派任何

股息须由董事考虑本集团及股东整体利益酌情决

定且须遵守所有适用法律及法规。

Dividend policy

The Board has the discretion to declare dividend to the Shareholders from

time to time, subject to the Articles of Asociation and al aplicable laws

and regulations. Pursuant to the Articles of Asociation, any declaration

of final dividend for the year wil be subject to the pasing of an ordinary

resolution by the Shareholders at a general meting, while the Directors

may from time to time resolve to pay to the Shareholders interim dividends

as apear to the Directors to be justified.

On 14 September 2021, the Board resolved to adopt a dividend policy

to set out the conditions of declaration and payment of dividend to the

Company’s Shareholders by the Board.

Based on our dividend policy, we aim to pay a total dividend in respect

of each financial year of not les than 30% of our profit atributable to our

owners. When recomending the payment of any dividend, the Board

would normaly consider various factors, including but not limited to:

  • ;

i. financial performance;

i. profitability;

iv. busines development;

  • ;

vi. capital requirements; and

vi. economic outlok.

There can be no asurance that we wil be able to declare or distribute

any dividend in the amount set out in any plan of the Board or at al. The

dividend policy may be reviewed from time to time and the declaration of

any dividend wil be subject to the Board’s discretion taking into acount

the interests of the Group and the Shareholders as a whole and wil be

subject to compliance with al aplicable laws and regulations.

Tam Jai International Co. Limited Anual Report 2024/25

CORPORATE GOVERNANCE REPORT

企业管治报告

风险管理及内部监控

本集团已制定及采纳风险管理政策以为识别、评

估及管理主要风险提供指导。主要风险管理程序

包括五个核心流程：(a)风险确定；(b)风险评估及

其风险优先次序；(c)风险应对；(d)风险监控；及

(e)风险汇报。

本集团根据以下风险应对措施厘定适当的风险减

缓计划：

— 接受：根据本集团之风险接受程度，风险

被视为并不重大及可接受，故毋须采取任

何行动。

— 降低：风险被视为不能忽视，并采取监控

措施等行动以减少影响及风险承受程度至

可接受水平。

— 防范：风险被视为相当重大，本集团没有

足够及有效的内部监管系统及外界措施可

将风险降至可接受水平或需不合理及高昂

之成本将风险降至可接受水平。因此，须

避开产生有关风险之活动。

内部审核职能及审阅风险管理及内部监控

本集团设有内部审核职能，由具有相关专业知识

的专业人员组成。内部审核职能部门独立于本集

团的日常运作，并通过进行面谈、走访及测试营

运有效性对风险管理及内部监控系统进行审阅。

风险管理及内部监控系统涵盖所有重大控制，

包括财务、营运及合规控制，审阅每半年进行一

次，尤其著眼于评估本集团会计、内部审核、财

务报告职能以及与本集团ESG表现及报告相关的

资源、员工资历及经验、培训计划及预算是否足

够。审阅结果由审核委员会向董事会报告。于二

零二五财政年度，董事会通过其审核及内部审计

职能部门的审核，认为在审核期间没有发现任何

重大的风险管理及内部监控方面的重大差异，且

确信风险管理及内部监控系统属有效及足够。

RISK MANAGEMENT AND INTERNAL CONTROL

The Group has formulated and adopted the risk management policy in

providing direction in identifying, evaluating and managing significant risks.

The main features of the risk management proceses comprise 5 core

stages: (a) risk identification, (b) risk asesment and prioritisation, (c) risk

response, (d) risk monitoring and (e) risk reporting.

The apropriate risk mitigation plans are determined based on the

folowing risk responses:

— Aceptance: Risks are considered imaterial and aceptable based

on the Group’s risk apetite and therefore no action is considered

necesary.

— Reduction: Risks canot be considered imaterial and actions such

as controls have to be taken to reduce the impact and vulnerability

to an aceptable level.

— Avoidance: Risks are so significant that there is no measure both

internaly and externaly to reduce the risk to an aceptable level, or

involve unreasonably high cost to reduce the risk to an aceptable

level. Therefore, activities giving rise to the risks should be avoided.

Internal audit function and review of risk management and

internal control

The Group has an internal audit function, which consists of profesional

staf with relevant expertise. The internal audit function is independent from

the Group’s daily operation and caries out review of the risk management

and internal control systems by conducting interviews, walkthroughs

and tests of operating efectivenes. Review of risk management and

internal control systems covering al material controls, including financial,

operational and compliance controls are conducted half-anualy.

In particular, the review evaluates the adequacy of resources, staf

qualifications and experience, training programes and budget of the

Group’s acounting, internal audit, financial reporting functions, as wel as

those relating to the Group’s ESG performance and reporting. The review

results are reported to the Board through the Audit Comite. During

FY2025, the Board through its review and review made by the internal

audit function, concluded that no material risk management and internal

control aspects of any significant discrepancies were discovered during

the review and was satisfied that the risk management and internal control

systems were efective and adequate.

谭仔国际有限公司 2024/25 年报

CORPORATE GOVERNANCE REPORT

企业管治报告

遵守风险管理及内部监控守则条文

本公司已建立动态的风险管理流程，包括风险识

别、风险评估、风险监测、风险应对、风险监督

及改进以及风险报告，以识别及评估本公司的主

要风险（包括ESG风险）以及解决重大内部监控缺

失（如有）。

本公司采纳风险管理系统，管理与其业务及营运

相关的风险，并实行内部监控系统，使本集团能

够实现有关经营有效性及效率、财务报告可靠性

以及遵守适用法律及法规的目标。

董事会了解其对本公司的风险管理及内部监控

系统以及检讨其成效的责任。该等系统旨在管理

而非消除未能达致业务目标的风险，且仅就不会

存在重大错误陈述或损失作出合理而非绝对的保

证。一旦于风险管理及内部监控系统审查过程中

或业务单位╱营运单位╱部门负责人在风险管理

系统下监控风险时发现任何重大内部监控缺失，

行政总裁将获即时通报。本公司管理层负责采取

跟进行动以解决重大内部监控缺失，并向董事会

报告所采取的补救措施及整改结果。

披露内幕消息

本公司已制定处理及披露内幕消息的内部政策，

以遵守证券及期货条例（香港法例第571章）（「证

券及期货条例」）。该内部政策规定及时处理及传

播内幕消息的程序及内部监控，并为董事、高级

管理层及相关员工提供监控资讯披露及回应查询

的一般指引。本公司已实行控制程序，以确保严

格禁止未经授权获取及使用内幕消息。

Compliance with risk management and internal control code

provisions

The Company has established a dynamic risk management proces,

including risk identification, risk asesment, risk monitoring, risk response,

risk supervision and improvement as wel as risk reporting, to identify

and evaluate the major risks (including ESG risks) of the Company and to

resolve material internal control defects, if any.

The Company adopts a risk management system which manages the risk

asociated with its busineses and operations and has an internal control

system which enables the Group to achieve objectives regarding the

efectivenes and eficiency of operations, reliability of financial reporting

and compliance with aplicable laws and regulations.

The Board acknowledges its responsibility for the Company’s risk

management and internal control systems and reviewing their

efectivenes. Such systems are designed to manage rather than eliminate

the risk of failure to achieve busines objectives and can only provide

reasonable and not absolute asurance against material mistatement

or los. Once any material internal control defect is identified during

the course of the review of the risk management and internal control

system or by heads of busines units/operating units/departments when

monitoring risks under the risk management system, the defect would

be reported to the Chief Executive Oficer imediately. The management

of the Company is responsible for implementing the folow-up actions to

resolve the material internal control defects, and reporting to the Board on

the remedial actions taken and the results of the rectification.

Disclosure of inside information

The Company has put in place an internal policy for the handling and

disclosure of inside information in compliance with the Securities and

Futures Ordinance (Cap. 571 of the Laws of Hong Kong) (the “SFO”). The

internal policy sets out the procedures and internal controls for handling

and disemination of inside information in a timely maner and provides

the Directors, senior management and relevant employes a general guide

in monitoring information disclosure and responding to enquiries. Control

procedures have ben implemented to ensure that unauthorized aces

and use of inside information are strictly prohibited.

Tam Jai International Co. Limited Anual Report 2024/25

CORPORATE GOVERNANCE REPORT

企业管治报告

反贪污及举报政策

本集团一直秉持高水平的商业操守，以公司管

治、内部监控及风险管理防止贪污，并受董事会

持续监督。我们绝不容忍任何不当行为及不道德

行径。因此，本集团参照防止贿赂条例（香港法

例第201章）及廉政公署规定，制定了反贿赂与贪

污政策（「该政策」）及道德守则（「该守则」）。该政

策清晰列明接受好处及利益冲突的规定。人力资

源部负责实施及监察该政策及该守则，且董事会

定期检视有关政策及守则。为向全体员工传达该

政策及该守则的详情，政策所述的程序已纳入新

员工的入职课程，而现职员工将通过电邮收到最

新资讯。

本公司亦制定了举报政策，规定举报不当行为或

渎职行为的指引及程序。任何雇员或业务伙伴均

可透过指定电邮地址或D-Quest热线（举报热线）

以保密方式呈报关注事项。在人力资源部的监督

下，任何雇员或代理人如未有遵守我们的政策或

有关反贿赂与贪污的监管规定，将会受到纪律处

分，包括终止雇用或委任，并会在适当情况下向

执法机构举报。

Anti-coruption and whistle-blowing policies

The Group has always adhered to high standards of busines ethics,

preventing coruption through corporate governance, internal controls and

risk management, and is subject to ongoing oversight by the Board of

Directors. We have zero tolerance for misconduct and unethical busines

behaviours. Therefore, the Anti-Bribery and Coruption Policy (the “Policy”)

and Code of Ethics (the “Code”) have ben formulated with reference

to the requirements of the Prevention of Bribery Ordinance (Cap. 201

of the Laws of Hong Kong) and the Independent Comision Against

Coruption (ICAC). The policies clearly state the requirements for acepting

advantages and conflict of interests. The Human Resources Department is

responsible for implementing and monitoring the Policy and the Code, and

the Board reviews them on a regular basis. To comunicate the details

of the Policy and the Code to al staf members, the procedures outlined

in the policies are incorporated into the induction program for new staf,

while curent staf wil receive updates via email.

The Company also has a whistle-blowing policy where guidelines and

proceses for the reporting of misconduct or malpractice are clearly

established. Any employes or busines partners are able to report

maters of concern in a confidential maner through the designated email

adres or the D-Quest hotline (a hotline for whistleblowing). Supervised

by the Human Resources Department, any employe or agent who fails

to comply with our policies or the regulatory requirements regarding anti-

bribery and coruption wil be subject to disciplinary actions, including the

termination of employment or apointment, and wil be reported to law

enforcement authorities where apropriate.

REPORT OF THE DIRECTORS

董事会报告

谭仔国际有限公司 2024/25 年报

The Directors are pleased to present this report together with the audited

consolidated financial statements of the Group for FY2025.

PRINCIPAL ACTIVITIES

The principal activities of the Company are investment holding,

procurement and trading of fod and procesed fod. The principal

activities of the Group are in the operation of restaurants under TamJai

and SamGor brands and other licensed brands including Marugame

Seimen and Yakiniku Yamagyu.

RESULTS AND APROPRIATIONS

The results of the Group for FY2025 are set out in the financial statements

on page 97 to page 182 of this anual report.

DIVIDENDS

Interim dividend for the six months ended 30 September 2024 of HK1.35

cents per Share (2024: HK3.0 cents per share) was declared and paid

during FY2025.

The Board does not recomend the distribution of any final dividend for

the FY2025 (FY2024: HK5.9 cents per share).

There is no arangement that a Shareholder has waived or agred to waive

any dividend.

BUSINES REVIEW

A review of the busines of the Group during FY2025, an analysis of the

Group’s performance during the year using financial key performance

indicators and a discusion on the Group’s future busines development

are contained in the Chairman’s Statement and Management Discusion

and Analysis on page 4 to page 16 of this anual report.

STAKEHOLDER ENGAGEMENT

Endeavouring to maintain a sound and solid relationship with the

stakeholders of the Group, which is esential to our long-term sustainable

development and suces in the market, we have ben engaging a

wide variety of stakeholders along our value chain. We believe that the

engagement of the core stakeholders aids us to beter anticipate the

emerging trends, grasp potential oportunities under the development of

the “gren economy”, improve our operational practices while lowering our

environmental fotprints, and provide products and services that cater to

our customers’ neds.

董事欣然呈报本集团于二零二五财政年度之本报

告连同经审核综合财务报表。

主要业务

本公司的主要活动为投资控股、食品及加工食品

采购及贸易。本集团的主要活动为以谭仔及三哥

品牌以及其他授权品牌（包括丸亀制面及山牛）营

运餐厅。

业绩及盈利分配

本集团二零二五财政年度业绩载于本年报第97

至182页的财务报表。

股息

于二零二五财政年度，就截至二零二四年九月三

十日止六个月宣派及派付中期股息每股1.35港仙

（二零二四年：每股3.0港仙）。

董事会不建议就二零二五财政年度派发任何末期

股息（二零二四财政年度：每股5.9港仙）。

并无股东已放弃或同意放弃任何股息的安排。

业务回顾

本集团于二零二五财政年度之业务回顾、采用主

要财务表现指标对本集团本年度表现之分析及有

关本集团未来业务发展之讨论载于本年报第4至

16页的主席报告和管理层讨论及分析。

持份者的参与

我们努力与本集团的持份者保持良好及稳固的关

系，这对我们的长期可持续发展及在市场上的成

功至关重要，我们一直在与价值链上的各类持份

者接触。我们相信，核心持份者的参与有助于我

们更好地预测新兴趋势，把握「绿色经济」发展下

的潜在机会，在降低环境足迹的同时改善我们的

营运方式，并提供满足顾客需求的产品及服务。

Tam Jai International Co. Limited Anual Report 2024/25

REPORT OF THE DIRECTORS

董事会报告

为有效地识别、评估及优先处理与不同持份者群

体相关的重要问题，我们通过调查及问卷让持份

者参与其中。凭借我们良好的企业公民身份、声

誉及强大的协调能力，我们与持份者进行有效的

沟通及合作。从通过广泛的公开沟通渠道收到的

持份者回应中，我们对持份者的关注及期望有更

深入的了解，此有利于我们在竞争激烈的市场中

更好地定位，并对我们的业务战略作出快速及适

当的调整。我们通过以下强调的渠道与核心持份

者维持有效的对话。

与关键持份者沟通

To eficiently identify, ases and prioritise the isues that are material and

relevant to our diferent stakeholder groups, we engage our stakeholders

through surveys and questionaires. With our god corporate citizenship,

reputation, and strong capability in cordination, we have comunicated

and colaborated with our stakeholders efectively. From the response of

the stakeholders received through a broad range of open comunication

chanels, we have gained a deper understanding of our stakeholders’

concerns and expectations, which has facilitated us to beter position

ourselves in the competitive market, and made rapid and apropriate

adjustments to our busines strategies. We have maintained our ongoing

efective dialogue with our core stakeholders through the chanels

highlighted below.

Comunication with key stakeholders

StakeholdersExpectations and ConcernsComunication Chanels

持份者期望及关注沟通渠道

Government and

regulatory authorities

政府及监管机关

— Compliance with laws and regulations

遵守法律及法规

— Sustainable development

可持续发展

— Ocupational health and safety

职业健康及安全

— Supervision on the compliance with local laws and

regulations

本地法律及法规的合规监管

— Routine reports and tax payments

常规报告及缴税

Shareholders

股东

— Return on investments

投资回报

— Corporate governance

企业管治

— Busines strategy and development plans

业务策略及发展计划

— Corporate website

公司网站

— Regular reports

定期报告

— Anouncements

公告

— Anual general meting

股东周年大会

— Webcasts

网上直播

— Investor metings

投资者会议

Employes

雇员

— Employes’ remuneration and benefits

雇员薪酬及福利

— Carer development

职业发展

— Training oportunities

培训机会

— Ocupational health and safety

职业健康及安全

— Buletin board

公告板

— Internal emails

内部电邮

— Employe hotline

雇员热线

— Management videos

管理层视频

— Training and workshops

培训与工作坊

谭仔国际有限公司 2024/25 年报

REPORT OF THE DIRECTORS

董事会报告

StakeholdersExpectations and ConcernsComunication Chanels

持份者期望及关注沟通渠道

Customers

顾客

— Product and service quality asurance

产品及服务质量保证

— Customer’s rights and satisfaction

顾客权益及满意度

— Product inovation

产品创新

— Satisfaction surveys

满意度调查

— Customer membership programes

顾客会员计划

— General customer service comunications

一般客户服务沟通

— Social media platforms

社交媒体平台

General public

公众

— Involvement in comunities

社区参与

— Laws and regulations compliance

法律及法规合规

— Transparency and reliability

透明度及可靠性

— Corporate website

公司网站

— Social media platforms

社交媒体平台

— Mas media

大众媒体

— Frontline staf

前线员工

— Direct comunication

直接沟通

Supliers

供应商

— Fair and open procurement

公平及公开采购

— Win-win upstream and downstream

coperation

上下游合作共赢

— Telephone/video conferences, face-to-face metings,

and on-site visits

电话╱视像会议、面对面的会议及实地访问

— Asesment of suplier

对供应商进行评估

— Tender and regular metings

招标及定期会议

Landlords

业主

— Brand image

品牌形象

— Busines plan and performance

业务规划及表现

— Corporate website

公司网站

— Mas media

大众媒体

— Frontline staf

前线员工

— Direct comunication

直接沟通

Tam Jai International Co. Limited Anual Report 2024/25

REPORT OF THE DIRECTORS

董事会报告

主要风险及不确定因素

下文列出本集团所面临若干主要风险及不确定因

素的概要：

— 我们很容易受到传染病或传染性疾病、动

物疾病、食源性疾病的爆发、流行及╱或大

流行，以及与这些事件有关的负面报导的

影响。

— 我们的业务取决于我们经营所在市场的宏

观经济状况，任何因经济衰退而导致的可

自由支配消费支出的减少均可能对业务产

生不利影响。

— 我们的扩张计划可能会导致风险和不确定

性增加，这可能会对我们的业务、财务状

况和经营业绩产生重大不利影响。

— 我们近期拓展或计划进军的新市场与香港

市场不同，而我们扩张至该等新市场存在

风险及不确定因素。

— 乌克兰冲突可能会对供应链管理造成不利

影响，例如增加营运成本及营运中断。

— 我们能够持续营运与否，取决于招聘及留

置前线员工的能力。

财务概要

本集团过去五个财政年度之业绩以及资产及负债

概要载列于本年报第2至3页。

可供分派储备

于二零二五年三月三十一日，根据《香港公司条

例》第六部计算，可供分派予本公司权益股东

的储备总额为346,443,000港元（二零二四年：

372,541,000港元）。

附属公司

本公司之主要附属公司之详情载列于综合财务报

表附注22。

PRINCIPAL RISKS AND UNCERTAINTIES

The folowing list is a sumary of certain principal risks and uncertainties

facing the Group:

— We are susceptible to outbreak, epidemic and/or pandemic of

infectious or contagious diseases, diseases of animals, fod-borne

ilneses as wel as negative publicity relating to such incidents.

— Our busines is dependent on the macroeconomic conditions of the

markets in which we operate and any reductions in discretionary

consumer spending as a result of economic downturn may

adversely afect our busines.

— Our expansion plan may lead to increased risks and uncertainties

which may materialy and adversely afect our busines, financial

condition and results of operations.

— The new markets which we have recently expanded into or plan

to expand into are diferent from the Hong Kong market and our

expansion into these new markets presents risks and uncertainties.

— The ongoing conflicts in Ukraine may adversely afect our suply

chain management, such as increase in operating costs and

disruption of operations.

— Our operational sustainability is dependent on our abilities to recruit

and retain frontline staf.

FINANCIAL SUMARY

A sumary of the results and of the asets and liabilities of the Group for

the last five financial years is set out on page 2 to page 3 of this anual

report.

DISTRIBUTABLE RESERVES

As at 31 March 2025, the agregate amount of reserves available for

distribution to equity shareholders of the Company, calculated under Part

6 of the Hong Kong Companies Ordinance was HK$346,443,000 (2024:

HK$372,541,000).

SUBSIDIARIES

Particulars of the Company’s principal subsidiaries are set out in note 22

to the consolidated financial statements.

谭仔国际有限公司 2024/25 年报

REPORT OF THE DIRECTORS

董事会报告

物业、机器及设备

本公司之物业、机器及设备于年内之变动详情载

列于综合财务报表附注10。

股本及购股权╱奖励股份

本公司之股本及购股权╱奖励股份于年内之变动

详情载列于综合财务报表附注24及25。

遵守相关法律及法规

据董事会及管理层所知，于二零二五财政年度，

本集团在所有重大方面均已遵守对本集团的业务

及营运有重大影响的相关法律及法规。有关本公

司环境政策及表现的详情，请参阅将与本年报同

时刊发的环境、社会及管治报告。

股份激励计划

于二零二一年三月二十五日，本公司采纳首次公

开发售前购股权计划（「首次公开发售前购股权计

划」）、首次公开发售后购股权计划（「首次公开发

售后购股权计划」）及股份奖励计划（于二零二一

年八月九日修订）（「股份奖励计划」）。

该等计划的详情载列如下︰

I. 首次公开发售前购股权计划

(a) 目的

首次公开发售前购股权计划之目的为

向合资格参与者提供机会于本公司拥

有个人权益，以达致下列目标：(i)激

励合资格参与者为本集团利益而尽量

提升其表现效率；及(i)吸引及挽留合

资格参与者或以其他方式与彼等保持

关系，而该等合资格参与者的贡献乃

对或将对本集团的长远发展有利。

PROPERTY, PLANT AND EQUIPMENT

Details of movements in the property, plant and equipment of the Group

during the year are set out in note 10 to the consolidated financial

statements.

SHARE CAPITAL AND SHARE OPTIONS/AWARDED

SHARES

Details of movements in share capital and share options/awarded shares

of the Company during the year are set out in notes 24 and 25 to the

consolidated financial statements.

COMPLIANCE WITH THE RELEVANT LAWS AND

REGULATIONS

As far as the Board and management are aware, during FY2025, the

Group has complied in al material aspects with the relevant laws and

regulations that have a significant impact on the busines and operation

of the Group. For details in relation to the Company’s environmental

policies and performance, please refer to the Environmental, Social and

Governance Report to be published at the same time as the publication of

this anual report.

SHARE INCENTIVE SCHEMES

On 25 March 2021, the Company adopted the pre-IPO share option scheme (the

“Pre-IPO Share Option Scheme”), the post-IPO share option scheme

(the “Post-IPO Share Option Scheme”) and the share award scheme (as

amended on 9 August 2021) (the “Share Award Scheme”).

Details of the schemes are set out as folows:

I. Pre-IPO Share Option Scheme

(a) Purpose

The purpose of the Pre-IPO Share Option Scheme is to

provide eligible participants with an oportunity to have a

personal stake in the Company with a view to achieving

the folowing objectives: (i) motivate the eligible participants

to optimise their performance eficiency for the benefit of

the Group; and (i) atract and retain or otherwise maintain

relationships with the eligible participants whose contributions

are or wil be beneficial to the long term growth of the Group.

Tam Jai International Co. Limited Anual Report 2024/25

REPORT OF THE DIRECTORS

董事会报告

(b) 参与人士

合资格参与者包括任何高级管理人

员，包括但不限于本集团成员公司不

时聘请的董事、行政人员、高级职员

及经理级雇员（不论全职或兼职），以

及董事会全权酌情认为属承授人的本

集团聘用的任何顾问。

(c) 行使购股权的时间及归属期

在以下归属日期的规限下，根据首次

公开发售前购股权计划授出的任何

购股权可于被视为接纳授出的日期

起计十年届满前（即二零三一年四月

三十日）任何时间行使：(i)向该承授人

授出的购股权下的股份总数的30%可

自二零二一年十月七日起行使；(i)向

该承授人授出的购股权下的股份总数

的30%可自二零二年十月八日起行

使；及(i)向该承授人授出的购股权下

的股份总数的40%可自二零二三年十

月八日起行使。

(d) 行使价

根据首次公开发售前购股权计划授出

的任何特定购股权的每股份行使价

为0.85港元，此乃以过往估计购股权

公允价值的二模式模型在授出日期时

厘定。

(e) 计划的有效期

首次公开发售前购股权计划已于上市

后自动终止。除上市前已授出的购股

权外，将不会亦概无根据首次公开发

售前购股权计划进一步授出购股权。

首次公开发售前购股权计划的条文将

继续有效，以便在首次公开发售前购

股权计划终止前已授出的任何购股权

或可根据首次公开发售前购股权计划

条文予以行使的其他购股权可继续行

使。在计划终止前已授出但在计划终

止时尚未行使的购股权将继续有效，

并可根据首次公开发售前购股权计划

行使。

(b) Participants

Eligible participants include any senior management

employe, including without limitation the director, executive,

oficer and manager-grade employe, whether ful time or part

time, employed by a member of the Group from time to time;

and any consultant employed by the Group, who the Board

considers, in its absolute discretion as a grante.

(c) Time of exercise of option and vesting period

Subject to the folowing vesting dates, any options granted

under the Pre-IPO Share Option Scheme may be exercisable

at any time prior to the expiry of 10 years from the demed

date of aceptance of the grant (i.e. 30 April 2031): (i) 30% of

the total number of Shares under the options granted to such

grante can be exercised from 7 October 2021; (i) 30% of

the total number of Shares under the options granted to such

grante can be exercised from 8 October 2022; and (i) 40%

of the total number of Shares under the options granted to

such grante can be exercised from 8 October 2023.

(d) Exercise price

The exercise price per Share in respect of any particular

option granted under the Pre-IPO Share Option Scheme shal

be HK$0.85, which was determined at the date of grant using

the binomial model that has ben used to estimate the fair

value of share options.

(e) Duration of the scheme

The Pre-IPO Share Option Scheme was automaticaly

terminated upon Listing. Save for the options granted prior to

the Listing, no further option shal be or have ben granted

under the Pre-IPO Share Option Scheme.

The provisions of the Pre-IPO Share Option Scheme shal

remain in force to the extent necesary to give efect to

the exercise of any option granted prior to the termination

of the Pre-IPO Share Option Scheme or otherwise as may

be required in acordance with the provisions of the Pre-

IPO Share Option Scheme. Options granted prior to such

termination but not yet exercised at the time of termination

shal continue to be valid and exercisable in acordance with

the Pre-IPO Share Option Scheme.

谭仔国际有限公司 2024/25 年报

REPORT OF THE DIRECTORS

董事会报告

(f) 首次公开发售前购股权计划下授出

的购股权

于二零二一年三月二十五日，合共37

名合资格参与者获授购股权，以按行

使价每股0.85港元认购合共2,848,400

股份，相当于本年报日期本公司已

发行股本约0.21%。

于二零二五财政年度，本公司就若干

合资格承授人行使购股权而配发及发

行81,400股份。

二零二五财政年度根据首次公开发售

前购股权计划授出的购股权变动详情

如下：

附注：

(a) 在附注(b)所述归属时间表的规限下，根据首

次公开发售前购股权计划授出的购股权可于

接纳授出日期起计10年期满前（即二零三一

年四月三十日）随时行使。

(b) 购股权将根据以下时间表归属予承授人：(i)

承授人可自2021年10月7日起行使获授购股

权所涉及股份总数的30%；(i)承授人可自2022

年10月8日起行使获授购股权所涉及股份总

数的30%；及(i)承授人可自2023年10月8日起

行使获授购股权所涉及股份总数的40%。

(f) Options granted under the Pre-IPO Share Option

Scheme

On 25 March 2021, a total of 37 eligible participants were

granted options to subscribe for an agregate of 2,848,400

Shares, representing aproximately 0.21% of the isued share

capital of the Company as at the date of this anual report, at

an exercise price of HK$0.85 per Share.

During FY2025, the Company aloted and isued 81,400

Shares in conection with the exercise of options by certain

eligible grantes.

Details of the movement of share options granted under the

Pre-IPO Share Option Scheme during FY2025 are as folows:

Category and name of

participantsDate of grant

(a)(b)

Exercise

price per

share

Fair value of

share options

on date of

grant

Outstanding as

at

1 April 2024

Granted

during

the year

Exercised

during

the year

(d)

Lapsed

during

the year

Canceled

during

the year

Outstanding

as at

31 March 2025

参与者类别及姓名授出日期

(a)(b)

每股

行使价

购股权

于授出日期的

公平值

于二零二四年

四月一日

尚未行使年内授出年内行使

(d)

年内失效年内注销

于二零二五年

三月三十一日

尚未行使

(HK$)(HK$)

（港元）（港元）

Directors

董事

Mr. Lau Tat Man25 March 20210.850.92114,400—114,400

刘达民先生二零二一年三月二十五日

Mr. Yeung Siu Cheong25 March 20210.850.9244,000—44,000

杨少昌先生二零二一年三月二十五日

Employes 25 March 20210.850.93761,210—81,400—679,810

雇员二零二一年三月二十五日

Total919,610—81,400—838,210

总计

Notes:

(a) Subject to the vesting schedule in note (b), the share options granted under

the Pre-IPO Share Option Scheme may be exercisable at any time prior to the

expiry of 10 years from the aceptance date of the grant (i.e. 30 April 2031).

(b) The options shal be vested to the grantes acording to folowing schedule: (i)

30% of the total number of Shares under the options granted to such grante

can be exercised from 7 October 2021; (i) 30% of the total number of Shares

under the options granted to such grante can be exercised from 8 October

2022; and (i) 40% of the total number of Shares under the options granted to

such grante can be exercised from 8 October 2023.

Tam Jai International Co. Limited Anual Report 2024/25

REPORT OF THE DIRECTORS

董事会报告

(c) 由于本公司股份于授出日期尚未上市，因此

无法提供紧接授出日期前的股份收市价。

(d) 股份于紧接行使日期二零二五年三月五日及

二零二五年三月十日前一日的加权平均收市

价为每股1.47港元。

I. 首次公开发售后购股权计划

(a) 目的

首次公开发售后购股权计划之目的是

向合资格参与者提供其个人于本公司

拥有权益的机会，以达致下列目标：

(i)激励合资格参与者为本集团的利益

而充分提升其表现效率；及(i)吸引及

挽留合资格参与者或与彼等保持续

的业务关系，而该等合资格参与者的

贡献现时或日后将会有利于本集团的

长远发展。

(b) 参与人士

董事会可酌情决定向下列人士授出购

股权：

(i) 本公司或其任何附属公司的任

何全职或兼职雇员、行政人员

或高级职员；

(i) 本公司或其任何附属公司的任

何董事（包括独立非执行董事）；

(i) 本公司或其任何附属公司的任

何咨询人、顾问、供应商、客

户、分销商及董事会全权认为

将为本公司或任何附属公司作

出贡献或已经作出贡献的有关

其他人士。

(c) 接纳购股权时应付的金额

于有关接纳日期或之前接纳购股权

后，承授人须支付1.00港元作为获授

购股权的代价。

(d) 购股权的行使期限及归属期

购股权的行使期将由董事会全权酌情

厘定，惟该期间不应超过由购股权被

视为已授出并获接纳之日起计10年，

并须受限于相关归属时间表。

(c) The closing price of the Shares imediately before date of grant is not available

as the Shares of the Company were not listed as at the date of grant.

(d) The weighted average closing price of the Shares on the dates imediately

preceding the dates of exercise of 5 March 2025 and 10 March 2025 was

HK$1.47 per Share.

I. Post-IPO Share Option Scheme

(a) Purpose

The purpose of the Post-IPO Share Option Scheme is to

provide eligible participants with an oportunity to have a

personal stake in the Company with a view to achieving the

folowing objectives: (i) motivate the eligible participants to

optimise their performance eficiency for the benefit of the

Group; and (i) atract and retain or otherwise maintain an

on- going busines relationship with the eligible participants

whose contributions are or wil be beneficial to the long-term

growth of the Group.

(b) Participants

The Board may, at its discretion, ofer to grant an option to

the folowing persons:

(i) any ful-time or part-time employes, executives or

oficers of the Company or any of our subsidiaries;

(i) any directors (including independent non-executive

directors) of the Company or any of its subsidiaries;

(i) any advisers, consultants, supliers, customers,

distributors and such other persons who in the sole

opinion of the Board wil contribute or have contributed

to the Company or any of its subsidiaries.

(c) Amount payable on aceptance of the option

Upon aceptance of the option on or before the relevant

aceptance date, the grante shal pay HK$1.00 as

consideration of the grant.

(d) Time of exercise of option and vesting period

The period during which an option may be exercised wil be

determined by the Board in its absolute discretion, provided

that such period shal not exced 10 years comencing on

the date upon which the option is demed to be granted and

acepted, and subject to the relevant vesting schedule.

谭仔国际有限公司 2024/25 年报

REPORT OF THE DIRECTORS

董事会报告

(e) 行使价

根据首次公开发售后购股权计划授出

的任何特定购股权所涉及每股行使价

将为董事会全权酌情决定的价格，惟

该价格最少须为（以较高者为准）：

(i) 股份于授出日期（须为联交所开

市买卖证券的日子）在联交所每

日报价表所示的正式收市价；

及

(i) 股份于紧接授出日期前五个营

业日在联交所每日报价表所示

正式收市价的平均值。

(f) 股份数目上限

根据首次公开发售后购股权计划及本

公司任何其他购股权计划（包括首次

公开发售前购股权计划）可能授出的

购股权所涉及的股份数目上限，合共

不得超过紧随全球发售完成后已发行

股本的10%，即134,003,200股份，

相当于本年报日期已发行股份总数约

9.95%。

(g) 每位参与者享有的最高股份数目

在上市规则规限下，于直至授出日期

止任何十二个月期间，因根据首次公

开发售后购股权计划及本公司任何其

他购股权计划向每名合资格参与者授

出的购股权（包括已行使及尚未行使

的购股权）获行使而已发行及可能将

予发行的股份总数，不得超过截至授

出日期已发行股份的1%；并就每位有

关的实体参与者或服务供应商不得超

过0.1%。

(h) 表现目标

于根据首次公开发售后购股权计划授

出的任何购股权可获行使之前，承授

人可能须达致董事会于授出时所列明

的任何表现目标。

(e) Exercise price

The exercise price per Share in respect of any particular

option granted under the Post-IPO Share Option Scheme

shal be such price as the Board in its absolute discretion shal

determine, save that such price must be at least the higher of:

(i) the oficial closing price of the Shares as stated in

the Stock Exchange’s daily quotation shets on the

date of grant, which must be a day on which the

Stock Exchange is open for the busines of dealing in

securities; and

(i) the average of the oficial closing prices of the Shares

as stated in the Stock Exchange’s daily quotation

shets for the five busines days imediately preceding

the date of grant.

(f) Maximum number of shares

The maximum number of Shares in respect of which options

may be granted under the Post-IPO Share Option Scheme

and under any other share option schemes (including the

Pre- IPO Share Option Scheme) of the Company must not

in agregate exced 10% of the isued share capital of the

Company imediately upon completion of the Global Ofering

i.e. 134,003,200 Shares, representing aproximately 9.95%

of the total number of Shares in isue as at the date of this

anual report.

(g) Maximum entitlement of each participant

Subject to the Listing Rules, the total number of Shares isued

and which may fal to be isued upon exercise of the options

granted under the Post-IPO Share Option Scheme and any

other share option schemes of our Company (including both

exercised and outstanding options) to each eligible participant

in any 12-month period up to the date of grant shal not

exced 1% of the Shares in isue as at the date of grant;

and shal not exced 0.1% with regard to each related entity

participant or service provider.

(h) Performance target

A grante may be required to achieve any performance

targets as the Board may then specify in the grant before any

options granted under the Post-IPO Share Option Scheme

can be exercised.

Tam Jai International Co. Limited Anual Report 2024/25

REPORT OF THE DIRECTORS

董事会报告

(i) 有效期

首次公开发售后购股权计划自股份

于二零二一年十月七日（「上市日期」）

在联交所上市的日期起计十年内生

效及有效。于本年报日期，首次公开

发售后购股权计划的剩余期限约为

六年五个月。

(j) 首次公开发售后购股权计划下授出

的购股权

于二零二年三月二十五日，合共65

名合资格参与者获授购股权，以按行

使价2.638港元认购合共6,394,000股

股份。

该行使价为以下各项的较高者︰

(i) 股份于授出日期在联交所每日

报价表所报的收市价每股2.55

港元；及

(i) 股份于紧接授出日期前五(5)个

交易日在联交所每日报价表所

报的平均收市价每股2.638港元。

该等购股权有效期为由购股权被视

为已授出并获接纳之日起计10年（即

二零三二年四月一日）及将分三批归

属：(i)30%购股权将于二零二三年三

月二十五日归属；(i)30%购股权将于

二零二四年三月二十五日归属；及(i)

余下40%购股权将于二零二五年三月

二十五日归属。

于二零二四年四月一日及二零二五年

三月三十一日，首次公开发售后购股

权计划下可供授出的购股权数目分别

为129,472,200份及129,889,200份，分

别相当于本年报日期的已发行股份总

数约9.61%及9.64%。

(i) Duration

The Post-IPO Share Option Scheme shal be valid and

efective for a period of 10 years from the date of listing of the

Share on the Stock Exchange of 7 October 2021 (the “Listing

Date”). As at the date of this anual report, the Post- IPO

Share Option Scheme has a remaining life of aproximately 6

years and 5 months.

(j) Options granted under the Post-IPO Share Option

Scheme

On 25 March 2022, a total of 65 eligible participants were

ofered options to subscribe for an agregate of 6,394,000

Shares at an exercise price of HK$2.638.

Such exercise price represented the higher of the folowing:

(i) the closing price of the Shares as stated on the daily

quotations shet of the Stock Exchange on the date of

grant of HK$2.55 per Share; and

(i) the average closing price of the Shares as stated on the

daily quotations shet of the Stock Exchange for the five (5)

trading days imediately preceding the date of grant of

HK$2.638 per Share.

These options are valid for a period of 10 years from the date

upon which the option is demed to be granted and acepted (i.e.

1 April 2032) and wil be vested in thre tranches: (i) 30% of

the options wil vest on 25 March 2023; (i) 30% of the options

wil vest on 25 March 2024; and (i) the remaining 40% of the

options wil vest on 25 March 2025.

The number of options available for grant under the Post-IPO

Share Option Scheme as at 1 April 2024 and 31 March 2025

was 129,472,200 and 129,889,200, respectively, representing

aproximately 9.61% and 9.64%, respectively, of the total

number of Shares in isue as at the date of this anual report.

谭仔国际有限公司 2024/25 年报

REPORT OF THE DIRECTORS

董事会报告

于二零二五财政年度，根据首次公开

发售后购股权计划授出的购股权变动

详情如下：

Details of the movement of share options granted under the

Post-IPO Share Option Scheme during FY2025 are as folows:

Category and name of

participantsDate of grant

(a)(b)

Exercise

price per

share

Fair value of

share options

on date of

grant

Outstanding

as at

1 April 2024

Granted

during

the year

Exercised

during

the year

Lapsed

during

the year

Canceled

during

the year

Outstanding

as at

31 March 2025

参与者类别及姓名授出日期

(a)(b)

每股

行使价

购股权

于授出日期的

公平值

于二零二四年

四月一日

尚未行使年内授出年内行使年内失效年内注销

于二零二五年

三月三十一日

尚未行使

(HK$)(HK$)

（港元）（港元）

Directors

董事

Mr. Lau Tat Man25 March 20222.6380.673157,500—157,500

刘达民先生二零二年三月二十五日0.688157,500—157,500

0.696210,000—210,000

Sub-total525,000—525,000

小计

Ms. Chan Ping, Rita25 March 20222.6380.67394,500—94,500

陈萍女士二零二年三月二十五日0.68894,500—94,500

0.696126,000—126,000

Sub-total315,000—315,000

小计

Mr. Yeung Siu Cheong25 March 20222.6380.59863,000—63,000

杨少昌先生二零二年三月二十五日0.63363,000—63,000

0.65884,000—84,000

Sub-total210,000—210,000

小计

Employes25 March 20222.6380.67337,800—37,800

雇员二零二年三月二十五日0.68837,800—37,800

0.69650,400—50,400

0.5981,006,500—125,100—881,400

0.6331,006,500—125,100—881,400

0.6581,342,000—166,800—1,175,200

Sub-total3,481,000—417,000—3,064,000

小计

Total4,531,000—417,000—4,114,000

总计

Tam Jai International Co. Limited Anual Report 2024/25

REPORT OF THE DIRECTORS

董事会报告

附注：

(a) 在附注(b)所述归属时间表的规限下，已授出

的购股权由购股权被视为已授出并获接纳之

日（即二零二年四月一日）起直至二零三二

年四月一日（即由购股权被视为已授出并获

接纳之日起计10年的届满日期）可予行使。

(b) 购股权将分三批归属：(i)30%购股权将于2023

年3月25日归属；(i)30%购股权将于2024年3

月25日归属；及(i)余下40%购股权将于2025

年3月25日归属。

(c) 紧接授出日期前的股份收市价为2.62港元。

I. 股份奖励计划

(a) 目的

股份奖励计划之目的是向合资格参与

者提供其个人于本公司拥有权益的机

会，以达致下列目标：(i)激励合资格

参与者为本集团的利益而充分提升其

表现效率；及(i)吸引及挽留合资格参

与者或与彼等保持续的业务关系，

而该等合资格参与者的贡献现时或日

后将会有利于本集团的长远发展。

(b) 参与人士

合资格参与股份奖励计划的人士包括

任何高级管理人员，包括但不限于本

集团成员公司不时聘请的任何董事、

行政人员、高级职员及经理级雇员

（不论全职或兼职），以及董事会全权

酌情认为属承授人的本集团聘用的任

何顾问。

(c) 实施

为实施股份奖励计划，谭仔国际雇员

信托（「雇员信托」）于二零二一年三月

二十五日成立，由恒泰信托（香港）有

限公司担任受托人（「受托人」）。受托

人须代承授人持有奖励股份，直至该

等奖励股份根据股份奖励计划规则归

属予承授人为止。受托人须于有关归

属日安排将奖励股份转让予该等承授

人，惟须经本公司确认。

Notes:

(a) Subject to the vesting schedule in note (b), the options granted are exercisable

from the date upon which the option is demed to be granted and acepted

(i.e. 1 April 2022) up to 1 April 2032, being the expiry date of 10 years from the

date upon which the option is demed to be granted and acepted.

(b) The options wil be vested in thre tranches: (i) 30% of the options wil be

vested on 25 March 2023; (i) 30% of the options wil be vested on 25 March

2024; and (i) the remaining 40% of the options wil be vested on 25 March

2025.

(c) The closing price of the Shares imediately before the date of grant was

HK$2.62.

I. Share Award Scheme

(a) Purpose

The purpose of the Share Award Scheme is to provide eligible

participants with an oportunity to have a personal stake in

the Company with a view to achieving the folowing objectives: (i)

motivate the eligible participants to optimise their performance

eficiency for the benefit of our Group; and (i) atract and

retain or otherwise maintain relationships with the eligible

participants whose contributions are or wil be beneficial to the

long term growth of the Group.

(b) Participants

Those eligible participants to participate in the Share Award

Scheme include any senior management employe, including

without limitation any director, executive, oficer and manager

grade employe, whether ful time or part time, employed by

a member of the Group from time to time; and any consultant

employed by the Group, who the Board considers, in its

absolute discretion as a grante.

(c) Implementation

For the implementation of the Share Award Scheme, the

Tamjai International Employe Trust (the “Employe Trust”)

was established on 25 March 2021 with Trident Trust

Company (HK) Limited acting as the truste thereof (the

“Truste”). The Truste shal hold the awarded Shares on

behalf of the grantes until they are vested in the grantes in

acordance with the rules of the Share Award Scheme. The

Truste shal then cause the awarded Shares to be transfered

to such grantes on the relevant vesting date subject to the

confirmation by the Company.

谭仔国际有限公司 2024/25 年报

REPORT OF THE DIRECTORS

董事会报告

于二零二一年三月二十五日、二零二

一年八月九日及二零二四年一月十

二日，Blesing Ken Investing Limited

（「Blesing Ken」）（受托人的直接全

资附属公司）根据股份奖励计划获配

发及发行2,024,000股份、3,000,000

股份及5,340,200股份，分别相当

于本年报日期的已发行股份总数约

0.15%、0.22%及0.40%。

Blesing Ken为受托人全资拥有的公

司，作为特殊目的实体于英属维尔京

群岛注册成立，目的仅为以信托形式

为股份奖励计划的承授人持有股份。

作为受托人的全资附属公司，Blesing

Ken仅可买卖其根据本公司（作为委

托人）及受托人就雇员信托的特殊目

的订立的信托契据（「信托契据」）条款

持有的股份。根据信托契据，本公司

成立及授权顾问委员会（「顾问委员

会」），其现由本公司执行董事兼行政

总裁刘达民先生组成，将就雇员信托

及股份奖励计划向受托人提供指示。

有关指示仅可于董事会于薪酬委员会

提出推荐建议后，以多数票通过决议

案后作出。

受托人将不会行使任何投票权而

Blesing Ken就其根据雇员信托持有

的任何股份不享有任何投票权。承授

人获授的股份实际归属后，承授人将

有权行使已归属股份随附的投票权。

受托人将会或将促使Blesing Ken选

择自本公司收取股息（除非顾问委员

会作出相反的书面指示则作别论），

并将以股份奖励计划持有该等股息。

受托人收取的股息将构成雇员信托的

信托基金一部分，其将由受托人按顾

问委员会酌情决定用于股份奖励计

划，包括但不限于在市场收购股份以

授出奖励股份及支付受托人收取的费

用以及受托人在履行其有关雇员信托

的职责期间产生的成本及开支。

On 25 March 2021, 9 August 2021 and 12 January 2024,

2,024,000 Shares, 3,000,000 Shares and 5,340,200 Shares

were aloted and isued to Blesing Ken Investing Limited

(“Blesing Ken”), a direct wholy-owned subsidiary of

the Truste, for the purpose of the Share Award Scheme,

representing aproximately 0.15%, 0.22% and 0.40% the

total number of isued Shares as at the date of this anual

report, respectively.

Blesing Ken is a company wholy-owned by the Truste

and was incorporated in the British Virgin Islands as a

special purpose vehicle solely to hold Shares on trust for the

grantes for the purpose of the Share Award Scheme. As a

wholy-owned subsidiary of the Truste, Blesing Ken may

only deal with the Shares it holds in acordance with the

terms of the trust ded entered into betwen our Company

as the setlor and the Truste for the specific purposes

of the Employe Trust (the “Trust Ded”). In acordance

with the Trust Ded, an advisory comite (the “Advisory

Comite”) established and authorised by our Company,

curently comprising Mr. Lau Tat Man, an executive Director

and the chief executive oficer of the Company, shal provide

instructions to the Truste in relation to the Employe Trust

and the Share Award Scheme. Such instructions shal only

be given after the Board has pased resolutions with majority

votes upon the recomendations of the Remuneration

Comite.

The Truste shal not exercise any voting rights and Blesing

Ken does not have any voting rights in respect of any Shares

held by Blesing Ken under the Employe Trust. After the

actual vesting of the Shares awarded to the grantes, the

grantes wil be entitled to exercise the voting rights atached

to the vested Shares.

The Truste shal, or shal procure Blesing Ken to, elect to

receive dividends from our Company, unles receiving any

writen direction to the contrary from the Advisory Comite,

and hold such dividends for the benefit of the Share Award

Scheme. The dividends received by the Truste shal form part

of the trust fund of the Employe Trust, which wil be utilised

by the Truste at the direction of the Advisory Comite for

the benefit of the Share Award Scheme, including but not

limited to acquisition of Shares on market for grant of the

awarded Shares and setlement of the fes charged by the

Truste and the costs and expenses incured by the Truste

in the course of performance of its duties in respect of the

Employe Trust.

Tam Jai International Co. Limited Anual Report 2024/25

REPORT OF THE DIRECTORS

董事会报告

(d) 股份最高数量

根据股份奖励计划可向合资格参与者

授出的奖励股份最高数目不可超过紧

随全球发售完成后本公司已发行股本

的10%，即134,003,200股份，相当

于本报告日期本公司已发行股份总数

约9.95%，惟其并不包括根据股份奖

励计划已失效的奖励股份及因行使根

据首次公开发售前购股权计划及首次

公开发售后购股权计划已授出或将予

授出的购股权而可能发行的所有股

份。本公司于任何财政年度根据股份

奖励计划可配发及发行的最高股份数

目不超过本公司于紧随全球发售完成

后已发行股本的3%，即40,200,960股

股份，相当于本报告日期已发行股份

总数约2.99%。

(e) 每位参与者享有的最高股份数目

股份奖励计划下每位参与者享有的最

高奖励股份数目须符合上市规则的

规限。

(f) 有效期

股份奖励计划自采纳日期（即二零二

一年三月二十五日）起计十年内有效

及生效。于本报告日期，股份奖励计

划的剩余期限约为五年八个月。

(g) 股份奖励计划下批授的股份

于二零二一年三月二十五日、二零二

一年八月九日及二零二三年十月十

二日，分别向若干获选雇员无偿授出

合共10,681,000股份，相当于本报

告日期的已发行股份总数约0.79%。

有关于二零二一年三月二十五日及二

零二一年八月九日授出奖励股份的

详情，请参阅招股章程。有关于二零

二三年十月十二日授出奖励股份的详

情，请参阅本公司日期分别为二零二

三年十月十二日及二零二三年十月十

六日的公告以及本公司日期为二零二

三年十一月十五日的通函。

(d) Maximum number of shares

The maximum number of awarded Shares which may be

granted to the eligible participants under the Share Award

Scheme is no more than 10% of the isued share capital of

the Company imediately upon completion of the Global

Ofering i.e. 134,003,200 Shares, representing aproximately

9.95% of the total isued Shares of the Company as at the

date of this report, but excluding the awarded Shares which

have ben lapsed in acordance with the Share Award

Scheme and al Shares which may be isued upon the

exercise of options granted or to be granted under the Pre-

IPO Share Option Scheme and the Post-IPO Share Option

Scheme. The maximum number of Shares which may be

aloted and isued by the Company under the Share Award

Scheme in any financial year is no more than 3% of the isued

share capital of the Company imediately upon completion

of the Global Ofering, i.e. 40,200,960, representing

aproximately 2.99% of the total isued Shares as at the date

of this report.

(e) Maximum entitlement of each participant

The maximum entitlement of each participant under the Share

Award Scheme shal be subject to the Listing Rules.

(f) Duration

The Share Award Scheme shal be valid and efective for a

term of 10 years from the adoption date (i.e. 25 March 2021).

As at the date of this report, the Share Award Scheme has a

remaining life of aproximately 5 years and 8 months.

(g) Shares awarded under the Share Award Scheme

A total of 10,681,000 Shares, representing aproximately

0.79% of the total number of isued Shares as at the date

of this report, were granted to certain selected employes

on 25 March 2021, 9 August 2021 and 12 October 2023,

respectively, at nil consideration. For details of the grant of

awarded Shares on 25 March 2021 and 9 August 2021,

please refer to the Prospectus. For details of the grant of

awarded Shares on 12 October 2023, please refer to the

anouncements of the Company dated 12 October 2023

and 16 October 2023, respectively, and the circular of the

Company dated 15 November 2023.

谭仔国际有限公司 2024/25 年报

REPORT OF THE DIRECTORS

董事会报告

(h) 绩效目标

就于二零二三年十月十二日授出的奖

励股份而言，由于作为高级行政人员

（附注）

的承授人（包括A类雇员

（附注）

及B类

雇员

（附注)

）属主要及高级行政人员，对

本集团的发展至为重要，彼等一部分

奖励股份的归属须受绩效目标所限。

具体而言，(i)A类雇员（包括本公司执

行董事刘达民先生、陈萍女士及杨少

昌先生）所获授奖励股份其中三分之

二的归属；及(i)B类雇员所获授奖励

股份其中一半的归属须受下文载列的

绩效目标所限：视乎董事会不时就各

相关年度全权酌情决定的各项主要绩

效指标（包括销售目标、除税后溢利

及增加店舖数量）中加权分数的达成

情况，承授人将按归属时间表获发放

70%、85%或100%的相关奖励股份。

就作为中阶雇员

（附注）

的承授人（即高级

行政人员除外）而言，本公司认为彼

等的士气和忠诚为本集团迈向成功的

关键。因此，为吸引、挽留和维持与

中阶雇员的关系，彼等之奖励股份概

不受绩效目标所限。

薪酬委员会认为，上述绩效目标机制

符合股份奖励计划及本集团人才挽留

计划之目的。

附注： 所有定义见本公司日期为二零二三年十一月

十五日的通函。

(i) 拨回机制

倘发生下列任何事件，未归属奖励股

份将会失效，而所有未归属奖励股

份及相关收入将不会归属于相关承

授人：

(i) 承授人因自愿离职或遭辞退或

其他原因而不再为雇员，或已

向该名承授人发出终止雇佣通

知（身故、正常退休或与雇员协

定提早退休除外）；

(h) Performance targets

For the grant of awarded Shares on 12 October 2023, in

respect of grantes who are Senior Executives

(Note)

(including

Clas A Employes

(Note)

and Clas B Employes

(Note)

), as they

are key and senior executives who are critical to the Group’s

development, the vesting of part of their awarded Shares

shal be subject to the performance targets. In particular, (i)

for Clas A Employes, including Mr. Lau Tat Man, Ms. Chan

Ping, Rita and Mr. Yeung Siu Cheong, al being executive

Directors of the Company, vesting of two-thirds of their

awarded Shares; and (i) for Clas B Employes, vesting of

half of their Awarded Shares, wil be subject to the folowing

performance targets: the grantes wil receive 70%, 85% or

100% of the relevant awarded Shares acording to the vesting

schedule subject to achievement of the weighted scores in

each of the key performance indicator components including

targeted sales, profits after tax and increment in the number

of stores as may be determined by the Board at its sole and

absolute discretion from time to time for each relevant year.

In respect of grantes who are Mid-level Employes

(Note)

(i.e.

other than the Senior Executives), the Company considers

that their morale and loyalty are the key to the suces of

the Group. Therefore, to atract, retain and maintain the

relationships with the Mid-level Employes, none of their

awarded Shares wil be subject to performance targets.

The Remuneration Comite is of the view that the

aforementioned mechanism in respect of performance targets

align with the purpose of the Share Award Scheme and the

Group’s talent retention program.

Note: Al as defined in the circular of the Company dated 15 November 2023.

(i) Clawback mechanism

Unvested awarded Shares shal lapse and al the unvested

awarded Shares and the related income shal not be vested

in the relevant grante upon the ocurence of any of the

folowing events:

(i) a grante ceases to be an employe, whether by

voluntary resignation or dismisal or otherwise or a

notice of termination of employment of such Grante

has ben served (but other than in the event of death,

normal retirement or early retirement by agrement of

the employe);

Tam Jai International Co. Limited Anual Report 2024/25

REPORT OF THE DIRECTORS

董事会报告

(i) 本公司遭勒令清盘或本公司通

过决议案自愿清盘；或

(i) 承授人受雇或受聘的本公司附

属公司不再为本公司附属公司。

于二零二四年四月一日及二零二五

年三月三十一日，股份奖励计划下

可供授出的奖励股份数目分别为

123,869,000股及124,859,300股，分别

相当于本年报日期的已发行股份总数

约9.20%及9.27%。

(i) an order for the winding-up of the Company is made or

a resolution is pased for the voluntary winding-up of

the Company; or

(i) the subsidiary of the Company by which a Grante is

employed or engaged ceases to be a subsidiary of the

Company.

The number of awarded Shares available for grant under the

Share Award Scheme was 123,869,000 and 124,859,300 as

at 1 April 2024 and 31 March 2025, respectively, representing

aproximately 9.20% and 9.27%, respectively, of the total

isued Shares as at the date of this anual report.

谭仔国际有限公司 2024/25 年报

REPORT OF THE DIRECTORS

董事会报告

于二零二五财政年度，尚未行使的奖

励股份及其变动详情如下：

(a) 于二零二一年三月二十五日及二零二一年八

月九日授出的奖励股份将于下列日期归属：

(i)承授人所获授奖励股份总数的30%将自二

零二一年十月七日起归属；(i)承授人所获授

奖励股份总数的30%将自二零二年十月七

日起归属；及(i)承授人所获授奖励股份总数

的40%将自二零二三年十月七日起归属。

(b) 在附注(e)所载绩效目标的规限下，于二零二

三年十月十二日授出的奖励股份将于下列日

期归属：(i)承授人所获授奖励股份总数的30%

将自二零二四年十月十二日起归属；(i)承授

人所获授奖励股份总数的30%将自二零二五

年十月十二日起归属；及(i)承授人所获授奖

励股份总数的40%将自二零二六年十月十二

日起归属。

Details of the awarded Shares outstanding and their

movements during FY2025 are as folows:

Category and name

of participantsDate of grant

Fair value of

awarded Shares

on date of grant

Outstanding

as at

1 April 2024

Granted

during

the year

Vested

during

the year

(f)

Lapsed

during

the year

Canceled

during

the year

Outstanding

as at

31 March 2025

参与者类别及姓名授出日期

奖励股份

于授出日期的

公平值

于二零二四年

四月一日

尚未行使年内授出年内归属

(f)

年内失效年内注销

于二零二五年

三月三十一日

尚未行使

(HK$)

（港元）

Directors

董事

Mr. Lau Tat Man25 March 2021

(a)(c)(d)

,

9 August 2021

(a)(c)(d)

and

12 October 2023

(b)(c)(d)(e)

1.270591,000—59,100118,200—413,700

刘达民先生二零二一年三月二十五日

(a)(c)(d)

、

二零二一年八月九日

(a)(c)(d)

及

二零二三年十月十二日

(b)(c)(d)(e)

Ms. Chan Ping, Rita25 March 2021

(a)(c)(d)

,

9 August 2021

(a)(c)(d)

and

12 October 2023

(b)(c)(d)(e)

1.270342,000—34,20068,400—239,400

陈萍女士二零二一年三月二十五日

(a)(c)(d)

、

二零二一年八月九日

(a)(c)(d)

及

二零二三年十月十二日

(b)(c)(d)(e)

Mr. Yeung Siu Cheong25 March 2021

(a)(c)(d)

and

12 October 2023

(b)(c)(d)(e)

1.270245,000—24,60048,900—171,500

杨少昌先生二零二一年三月二十五日

(a)(c)(d)

及

二零二三年十月十二日

(b)(c)(d)(e)

Senior management25 March 2021

(a)(c)(d)

and

12 October 2023

(b)(c)(d)(e)

1.270557,000—55,800111,300—389,900

高级管理层二零二一年三月二十五日

(a)(c)(d)

及

二零二三年十月十二日

(b)(c)(d)(e)

Employes25 March 2021

(a)(c)(d)

and

12 October 2023

(b)(c)(d)(e)

1.2703,692,000—538,200873,300433,2001,847,300

雇员二零二一年三月二十五日

(a)(c)(d)

及

二零二三年十月十二日

(b)(c)(d)(e)

Total5,427,000—711,9001,220,100433,2003,061,800

总计

(a) The awarded Shares granted on 25 March 2021 and 9 August 2021 shal vest

on the folowing dates: (i) 30% of the total number of awarded Shares granted

to the grante wil vest from 7 October 2021; (i) 30% of the total number of

awarded Shares granted to the grante wil vest from 7 October 2022; and (i)

40% of the total number of awarded Shares granted to the grante wil vest

from 7 October 2023.

(b) Subject to the performance targets under note (e), the awarded Shares granted

on 12 October 2023 shal vest on the folowing dates: (i) 30% of the total

number of awarded Shares granted to the grante wil vest from 12 October

2024; (i) 30% of the total number of awarded Shares granted to the grante

wil vest from 12 October 2025; and (i) 40% of the total number of awarded

Shares granted to the grante wil vest from 12 October 2026.

Tam Jai International Co. Limited Anual Report 2024/25

REPORT OF THE DIRECTORS

董事会报告

(c) 紧接相关授出日期前的股份收市价如下：

(d) 奖励股份以零代价授出。

(e) 有关归属奖励股份的相关绩效目标，请参阅

上文第(h)段。

(f) 股份于紧接奖励股份获归属当日前的加权平

均收市价为1.23港元。

一般资料

于二零二五财政年度，概无根据首次公开发售前

购股权计划、首次公开发售后购股权计划或股份

奖励计划授出购股权或奖励，因此，上市规则第

17.07(3)条项下有关披露于二零二五财政年度根

据本公司所有计划项下已授出购股权及奖励而可

予发行的股份数目除以已发行股份加权平均数的

规定并不适用。

股票挂钩协议

除本董事会报告「股份奖励计划」一节所披露者

外，于二零二五财政年度，本集团概无订立或存

在其他股票挂钩协议。

捐赠

本公司于二零二五财政年度作出慈善及其他捐赠

210,000港元（二零二四财政年度：336,000港元）。

(c) The closing prices of the Shares imediately before the relevant dates of grant

are as folows:

Date of grantClosing price of the Shares imediately before the date of grant

授出日期紧接授出日期前的股份收市价

25 March 2021Not available as the Shares were not listed as at the date of grant

二零二一年三月二十五日因股份于授出日期尚未上市而无法提供

9 August 2021Not available as the Shares were not listed as at the date of grant

二零二一年八月九日因股份于授出日期尚未上市而无法提供

12 October 2023HK$1.26

二零二三年十月十二日1.26港元

(d) The awarded Shares were granted at nil consideration.

(e) Please refer to paragraph (h) above for the relevant performance targets in

respect of the vesting of the awarded Shares.

(f) The weighted average closing price of the Shares imediately before the dates

on which the awarded Shares were vested was HK$1.23.

General information

During the FY2025, no options or awards were granted under the Pre-IPO

Share Option Scheme, the Post-IPO Share Option Scheme or the Share

Award Scheme and therefore the requirement under Rule 17.07(3) of

the Listing Rules to disclose the number of Shares that may be isued in

respect of options and awards granted under al schemes of the Company

during FY2025 divided by the weighted average number of Shares in isue

is not aplicable.

EQUITY-LINKED AGREMENTS

Save as disclosed in the section headed “Share Incentive Schemes” in this

Report of the Directors, no other equity-linked agrements were entered

into by the Group or existed during FY2025.

DONATIONS

The Company made HK$210,000 charitable and other donations during

FY2025 (FY2024: HK$336,000).

谭仔国际有限公司 2024/25 年报

REPORT OF THE DIRECTORS

董事会报告

主要客户及供应商

于二零二五财政年度，客户主要为公众零售客

户。于二零二五财政年度的本集团五大客户的收

入合共占本集团同年收入不足30.0%。于二零二

五财政年度，本集团五大供货商的采购额占本集

团于二零二五财政年度总采购额约37.3%，其中

最大的供货商的采购额占本集团于二零二五财政

年度总采购额约15.0%。概无董事、其各自的紧

密联系人（定义见上市规则）或任何股东（就董事

所深知拥有本公司已发行股本5%以上）于本集团

前述任何五大客户或供应商的股本中拥有任何

权益。

董事

于二零二五财政年度及截至本年报日期（即二零

二五年五月九日）的董事为：

执行董事：

刘达民先生（主席兼行政总裁）

陈萍女士

杨少昌先生

非执行董事：

杉山孝史先生（于二零二五年五月十五日辞任）

（附注）

冨谷武史先生（于二零二四年十二月二十日辞任）

（附注）

染谷则史先生

山口聡先生（于二零二五年五月十五日获委任）

（附注）

波户本彻先生（于二零二四年十二月二十日获委任）

（附注）

附注：

冨谷武史先生自二零二四年十二月二十日起辞任非执行董事，同日

波户本彻先生获委任为非执行董事。杉山孝史先生自二零二五年五

月十五日起辞任非执行董事，同日山口聡先生获委任为非执行董

事。进一步详情请参阅本公司日期分别为二零二四年十二月二十日

及二零二五年五月十五日的公告。

独立非执行董事：

李国明先生

卢国荣先生

杨耀强先生

根据章程细则第111条，陈萍女士、染谷则史先

生及李国明先生将轮值退任，而山口聡先生及波

户本彻先生将根据章程细则第110条退任。彼等

均合资格于应届股东周年大会膺选连任。

MAJOR CUSTOMERS AND SUPLIERS

For FY2025, our customers were primarily retail customers from the

general public. During FY2025, the revenue generated from the Group’s

five largest customers combined acounted for les than 30.0% of the

Group’s revenue in the same year. During FY2025, the purchase from

the Group’s five largest supliers acounted for aproximately 37.3% of

the Group’s total purchase in FY2025 while purchases from the largest

suplier included therein acounted for aproximately 15.0% of the

Group’s total purchases in FY2025. None of the Directors, their respective

close asociates (as defined in the Listing Rules) or any Shareholders,

which to the best knowledge of the Directors, owns more than 5% of the

Company’s isued share capital, has any interests in the share capital of

any of the above five largest customers or supliers of the Group.

DIRECTORS

The Directors during FY2025 and up to the date of this anual report (i.e.

9 May 2025) were:

Executive Directors:

Mr. Lau Tat Man (Chairman and Chief Executive Oficer)

Ms. Chan Ping, Rita

Mr. Yeung Siu Cheong

Non-executive Directors:

Mr. Sugiyama Takashi (resigned on 15 May 2025)

(Note)

Mr. Tomitani Takeshi (resigned on 20 December 2024)

(Note)

Mr. Someya Norifumi

Mr. Yamaguchi Satoshi (apointed on 15 May 2025)

(Note)

Mr. Hatomoto Toru (apointed on 20 December 2024)

(Note)

Note:

Mr. Tomitani Takeshi resigned as a non-executive Director with efect from 20 December 2024, and on

the same day, Mr. Hatomoto Toru was apointed as a non-executive Director. Mr. Sugiyama Takashi

resigned as non-executive Director with efect from 15 May 2025, and on the same day, Mr. Yamaguchi

Satoshi was apointed as a non-executive Director. Please refer to the Company’s anouncements dated

20 December 2024 and 15 May 2025 respectively for further details.

Independent Non-executive Directors:

Mr. Le Kwok Ming

Mr. Lo Kwok Wing

Mr. Yeung Yiu Keung

In acordance with Article 111 of the Articles of Asociation, Ms. Chan

Ping Rita, Mr. Someya Norifumi, and Mr. Le Kwok Ming wil retire by

rotation, and Mr. Yamaguchi Satoshi and Mr Hatomoto Toru wil retire in

acordance with Article 110 of the Articles Asociation. Al of them being

eligible and wil ofer themselves for re-election at the forthcoming AGM.

Tam Jai International Co. Limited Anual Report 2024/25

REPORT OF THE DIRECTORS

董事会报告

董事及高级管理层履历

本公司董事及高级管理层的履历详情载于本年报

第17至29页。

董事服务合约

各董事已与本公司订立服务协议，任期为三年，

可由任一方向另一方发出不少于三个月的书面通

知终止，惟须根据章程细则及上市规则轮值退任

及重选连任，以及遵守其他相关规定。

董事于交易、安排或合约的权益

除本年报「关连交易及持续关连交易」一节所述协

议外，董事或与董事有关的任何实体在本公司、

其控股公司或其任何附属公司或同系附属公司于

截至二零二五年三月三十一日止年度的年内或年

末作为订约方存在的任何重大交易、安排或合约

中并无直接或间接重大权益。

DIRECTORS’ AND SENIOR MANAGEMENT’S

BIOGRAPHIES

Biographical details of the Directors and the senior management of the

Company are set out on pages 17 to 29 of this anual report.

DIRECTORS’ SERVICE CONTRACTS

Each of the Directors has entered into a service agrement with the

Company for a term of thre years, which may be terminated by not les

than thre months’ notice in writing served by either party on the other

and subject to retirement by rotation and re-election and other related

provisions in acordance with the Articles of Asociation and the Listing

Rules.

DIRECTORS’ INTERESTS IN TRANSACTIONS,

ARANGEMENTS OR CONTRACTS

Save for the agrements as set out under the section headed “Conected

Transaction and Continuing Conected Transactions” contained in

this anual report, none of the Directors nor any entity conected with

the Directors had a material interest, either directly or indirectly, in any

transactions, arangements or contracts of significance to which the

Company, its holding company, or any of its subsidiaries or felow

subsidiaries was a party subsisting during or at the end of the year ended

31 March 2025.

谭仔国际有限公司 2024/25 年报

REPORT OF THE DIRECTORS

董事会报告

附属公司董事DIRECTORS OF SUBSIDIARIES

Name of Subsidiaries

Place/Country of

Incorporation and OperationName of Directors董事姓名

附属公司名称注册成立及经营地点╱国家

Jointed-Heart Limited

同心饮食有限公司

Hong Kong

香港

LAU Tat Man

CHAN Ping Rita

YUEN Wah Lam

刘达民

陈萍

袁华林

Venic Limited

群顺有限公司

Hong Kong

香港

LAU Tat Man

LAU Chi Kwan

CHAN Ping Rita

刘达民

刘次军

陈萍

TJI Global Busines Company Limited

谭仔环球业务有限公司

Hong Kong

香港

LAU Tat Man

CHAN Ping Rita

刘达民

陈萍

TJI Global Development Company Limited

谭仔环球发展有限公司

Hong Kong

香港

LAU Tat Man

CHAN Ping Rita

LAU Chi Kwan

刘达民

陈萍

刘次军

TJI Global Suply Chain Company Limited

谭仔环球供应管理有限公司

Hong Kong

香港

LAU Tat Man

CHAN Ping Rita

LAU Wai Ye

刘达民

陈萍

刘慧怡

TJI Global Share Service Company Limited (formerly

known as “TAMLABORATION LIMITED”)

谭仔环球企业管理有限公司

（前称「谭仔协力有限公司」）

Hong Kong

香港

LAU Tat Man

CHAN Ping Rita

YEUNG Siu Cheong

WU Kwan Chung

刘达民

陈萍

杨少昌

胡君仲

Tung Tak Sublime Limited

同德升有限公司

Hong Kong

香港

LAU Tat Man

CHAN Ping Rita

LAU Wai Ye

CHOW Chi Wing

刘达民

陈萍

刘慧怡

周志荣

谭仔餐饮（深圳）有限公司The People’s Republic of

China (the “PRC”)

中华人民共和国（「中国」）

LAU Tat Man刘达民

Tam Jai (Singapore) Pte. Ltd.Singapore

新加坡

LAU Tat Man

CHAN Ping, Rita

Charoa-Ungsuthorn

Charoa

CHEN Jingshi

刘达民

陈萍

Charoa-Ungsuthorn

Charoa

CHEN Jingshi

Tam Jai Japan Inc

株式会社谭仔日本

Japan

日本

LAU Tat Man

CHAN Ping, Rita

TOMOHIRO Shinya

刘达民

陈萍

TOMOHIRO Shinya

TJI Japanese Concepts Company Limited (formerly

known as “TJI Marugame Company Limited”)

谭仔日式概念有限公司 （前称「谭仔丸龟有限公司」）

Hong Kong

香港

LAU Tat Man

CHAN Ping Rita

LAU Chi Kwan

刘达民

陈萍

刘次军

TJI China Holdings Company Limited

谭仔中国控股有限公司

Hong Kong

香港

LAU Tat Man

CHAN Ping Rita

WONG Ka Yu Stanley

刘达民

陈萍

黄家裕

Tam Jai International Co. Limited Anual Report 2024/25

REPORT OF THE DIRECTORS

董事会报告

Name of Subsidiaries

Place/Country of

Incorporation and OperationName of Directors董事姓名

附属公司名称注册成立及经营地点╱国家

谭仔餐饮（广州）有限公司PRC

中国

LAU Tat Man刘达民

TAM JAI AUSTRALIA PTY LTDAustralia

澳洲

LAU Tat Man

CHAN Ping, Rita

PRINGLE Mathew

Wiliam

刘达民

陈萍

PRINGLE Mathew

Wiliam

Marugame (HK) Limited (formerly known as

“MARUGAME (TD) LIMITED”)

丸龟制面（香港）有限公司

（前称「丸龟制面（淘大）有限公司」）

Hong Kong

香港

LAU Tat Man

CHAN Ping Rita

LAU Chi Kwan

刘达民

陈萍

刘次军

Toridol and Heyi Holding Limited (formerly known as

“Marugame (HK) Limited”)

东利多和颐控股有限公司

（前称「丸龟制面（香港）有限公司」）

Hong Kong

香港

LAU Tat Man

CHAN Ping Rita

LAU Chi Kwan

刘达民

陈萍

刘次军

DIRECTORS’ INTERESTS IN COMPETING BUSINES

During FY2025, none of the Directors was considered to have interests

in any busines which competes or is likely to compete, either directly or

indirectly, with that of the Group.

EMOLUMENTS OF DIRECTORS AND SENIOR

MANAGEMENT

The Directors’ emoluments are subject to Shareholders’ aproval

at general metings. The emoluments payable to the Directors are

determined by the Board based on the adopted remuneration policy and

as recomended by the Remuneration Comite, with reference to

the Directors’ qualifications and experience, responsibilities undertaken,

contribution to the Group and the prevailing market level of remuneration

for similar positions.

董事于竞争业务的权益

于二零二五财政年度，概无董事被视为于与本集

团竞争或可能竞争的业务中直接或间接拥有任何

权益。

董事及高级管理层薪酬

董事薪酬须于股东大会取得股东批准方可作实。

应付董事的薪酬将由董事会基于薪酬委员会采纳

的薪酬政策并作出推荐建议，参照董事资历及经

验、所承担职责、对本集团所作贡献以及类似职

位的现行市场薪酬水平后厘定。

谭仔国际有限公司 2024/25 年报

REPORT OF THE DIRECTORS

董事会报告

高级管理层成员于截至二零二五年三月三十一日

止年度按级别划分的薪酬如下：

截至二零二五年三月三十一日止年度应付各董事

的薪酬详情载于综合财务报表附注7。

退休福利计划

本集团为香港雇员根据香港强制性公积金计划

条例（香港法例第485章）设立强制性公积金计划

（「强积金计划」）。强积金计划为界定供款退休计

划，由独立受托人管理。根据强积金计划，雇主

及其雇员各自须对该计划按雇员有关收入之5%

作出供款，惟每月有关收入之上限为30,000港元

（二零二四年：30,000港元）。向计划的供款会即

时归属。

本集团在香港以外地区聘请的雇员乃根据当地劳

工法例及法规，由适当的当地界定供款退休计划

所保障。本集团须根据退休福利计划作出指定雇

主供款。

于二零二五财政年度，并无已没收的供款，可减

少现有或未来供款水平。

与控股东的合约

除本年报「关连交易及持续关连交易」及「关联方

交易」各节以及综合财务报表附注29所披露者

外，本公司或其任何附属公司（作为一方）与本公

司或其任何附属公司的控股东（作为另一方）在

二零二五财政年度并无订立或在年末仍然有效的

重大合约，亦无在二零二五财政年度就本公司或

其任何附属公司的控股东（作为一方）向本公司

或其任何附属公司（作为另一方）提供服务订立或

于年末存续的重大合约。

The emoluments of the members of senior management by band for the

year ended 31 March 2025 are set out below:

二零二五年

HK$2,000,001–HK$2,500,0002,000,001港元至2,500,000港元2

HK$2,500,001–HK$3,000,0002,500,001港元至3,000,000港元1

Details of the remuneration payable to each Director for the year ended 31

March 2025 are set out in note 7 to the consolidated financial statements.

RETIREMENT BENEFIT SCHEMES

The Group participated in a mandatory provident fund scheme (the “MPF

Scheme”) under the Hong Kong Mandatory Provident Fund Schemes

Ordinance (Cap. 485 of the Laws of Hong Kong) for employes in Hong

Kong . The MPF Scheme is a defined contribution retirement scheme

administered by independent trustes. Under the MPF Scheme, the

employer and its employes are each required to make contributions

to the MPF Scheme at 5% of the employes’ relevant income, subject

to a cap of monthly relevant income of HK$30,000 (2024: HK$30,000).

Contributions to the plan vest imediately.

Employes engaged by the Group outside Hong Kong are covered by

apropriate local defined contribution retirement schemes pursuant to

the local labour rules and regulations. The Group is obliged to make the

specified contributions as employer with respect to the retirement benefits

scheme.

During FY2025, no forfeited contributions were available to reduce the

existing or future level of contributions.

CONTRACTS WITH CONTROLING SHAREHOLDERS

Other than disclosed in the sections headed “Conected Transaction and

Continuing Conected Transactions”, “Related Party Transactions” and

Note 29 to the consolidated financial statements contained in this anual

report, no contract of significance was entered into betwen the Company

or any of its subsidiaries (on one hand) and the controling shareholders of

the Company or any of its subsidiaries (on the other hand) during FY2025

or subsisted at the end of the year and no contract of significance for the

provision of services to the Company or any of its subsidiaries (on one

hand) by a controling shareholder of the Company or any of its subsidiaries (on

the other hand) was entered into during FY2025 or subsisted at the end of

the year.

Tam Jai International Co. Limited Anual Report 2024/25

REPORT OF THE DIRECTORS

董事会报告

董事及最高行政人员于股份及相关股份

的权益及淡仓

于二零二五年三月三十一日，本公司董事及最高

行政人员于本公司或其任何相联法团（定义见证

券及期货条例第XV部）的股份、相关股份及债权

证中拥有根据证券及期货条例第352条须记入该

条所指登记册或已根据标准守则通知本公司及联

交所的权益及淡仓载列如下。

于本公司股份及股本衍生工具的相关股份的

权益

附注：

  • 「L」表示该人士于股份中的好仓。

(2) 该等股份为本公司根据同样于二零二一年三月二十五日采纳

的首次公开发售前购股权计划及首次公开发售后购股权计划

授出的购股权。

DIRECTORS’ AND CHIEF EXECUTIVE’S INTERESTS

AND SHORT POSITIONS IN SHARES AND UNDERLYING

SHARES

As at 31 March 2025, the interests and short positions of the Directors

and chief executive of the Company in the Shares, underlying Shares and

debentures of the Company or any of its asociated corporations (within

the meaning of Part XV of the SFO), or which were required, pursuant to

Section 352 of the SFO, to be entered in the register refered therein, or

which were notified to the Company and the Stock Exchange, pursuant to

the Model Code, are set out below.

Interests in the shares and underlying shares of equity

derivatives of the Company

Name of DirectorsNature of interest

Number of

Shares

interested

(1)

Percentage of

shareholding in

our Company as

at 31 March 2025

董事姓名权益性质

拥有权益的

股份数目

(1)

于二零二五年

三月三十一日

在本公司的

持股百分比

Mr. Lau Tat ManBeneficial owner2,494,700 (L)

刘达民先生实益拥有人639,400 (L)

(2)

Total:总计：3,134,100 (L)0.23%

Ms. Chan Ping, RitaBeneficial owner1,364,200 (L)

陈萍女士实益拥有人315,000 (L)

(2)

Total:总计：1,679,200 (L)0.12%

Mr. Yeung Siu CheongBeneficial owner204,600 (L)

杨少昌先生实益拥有人254,000 (L)

(2)

Interest of spouse15,000 (L)

配偶权益

Total:总计：473,600 (L)0.03%

Notes:

  • “L” denotes the person’s long position in the Shares.

(2) These Shares are in the form of share options of the Company granted pursuant to the Pre-IPO

Share Option Scheme and the Post-IPO Share Option Scheme both adopted by the Company

on 25 March 2021.

谭仔国际有限公司 2024/25 年报

REPORT OF THE DIRECTORS

董事会报告

于相联法团的权益

相联法团名称：Toridol Holdings Corporation

附注：

  • 「L」指该人士于股份的好仓。
  • 。

除上文所披露者外，于二零二五年三月三十一

日，本公司董事及最高行政人员概无于本公司或

其任何相联法团（定义见证券及期货条例第XV部）

的股份、相关股份或债权证中拥有记入本公司根

据证券及期货条例第352条须存置的登记册或根

据标准守则须通知本公司及联交所的任何权益或

淡仓。

Interests in asociated corporation

Name of asociated corporation: Toridol Holdings Corporation

Name of DirectorsNature of interest

Number of

shares

interested

(1)

Percentage of

shareholding in

the asociated

corporation as at

31 March 2025

董事姓名权益性质

拥有权益的

股份数目

(1)

于二零二五年

三月三十一日

在相联法团的

持股百分比

Mr. Sugiyama Takashi

(2)

Beneficial owner14,890 (L)0.00%

杉山孝史先生

(2)

实益拥有人

Mr. Hatomoto ToruBeneficial owner160 (L)0.00%

波户本彻先生实益拥有人

Mr. Someya NorifumiBeneficial owner200 (L)0.00%

染谷则史先生实益拥有人

Notes:

  • “L” denotes the person’s long position in the Shares.

(2) Mr. Sugiyama Takashi resigned as a non-executive Director with efect from 15 May 2025.

Save as disclosed above, as at 31 March 2025, none of the Directors

and chief executive of the Company had any interests or short positions

in the Shares, underlying Shares or debentures of the Company or any of

its asociated corporations (within the meaning of Part XV of the SFO) as

recorded in the register required to be kept under Section 352 of the SFO,

or as otherwise notified to the Company and the Stock Exchange pursuant

to the Model Code.

Tam Jai International Co. Limited Anual Report 2024/25

REPORT OF THE DIRECTORS

董事会报告

主要股东及其他人士于股份及相关股份

的权益

于二零二五年三月三十一日，据董事及本公司最

高行政人员所知，以下人士或公司（董事及本公

司最高行政人员除外）于本公司股份或相关股份

中拥有根据证券及期货条例第XV部第2及3分部

条文须予披露或须记入本公司根据证券及期货条

例第336条须予存置的登记册的权益或淡仓︰

附注：

  • 「L」指该人士于股份的好仓。
  • ，东利多控股有限公司由Toridol

Holdings Corporation全资拥有，而Toridol Holdings Corporation

由粟田贵也先生拥有约36.88%。根据证券及期货条例，

Toridol Holdings Corporation与粟田贵也先生各自被视为于东

利多控股有限公司所持有的股份中拥有权益。

  • 。根据证券及期货条

例，粟田利美女士被视为于粟田贵也先生拥有权益的股份中

拥有权益。

  • ，非执行董事染谷则史先生为

Toridol Holdings Corporation的法律部门主管；而非执行董事波

户本彻先生则为Toridol Holdings Corporation的企业策划部门

总经理。

SUBSTANTIAL SHAREHOLDERS’ AND OTHER

PERSONS’ INTERESTS IN SHARES AND UNDERLYING

SHARES

As at 31 March 2025, so far as was known to the Directors and the chief

executive of the Company, the persons or companies (other than the

Directors and chief executive of the Company) who/which had interest or

short position in the Shares or underlying Shares of the Company, which

would fal to be disclosed under the provisions of Divisions 2 and 3 of Part

XV of the SFO, or which would be required, to be entered in the register

required to be kept by the Company pursuant to Section 336 of the SFO

were as folows:

Long positions in the shares and

underlying shares

Shares held as at 31 March 2025

于股份及相关股份的好仓

于二零二五年三月三十一日所持股份

Name of substantial shareholdersCapacity

Number of

Shares

(1)

Aproximate

percentage

主要股东姓名╱名称身份股份数目

(1)

概约百分比

Toridol Holding LimitedBeneficial owner

(2)

1,000,000,000 (L)74.25%

东利多控股有限公司实益拥有人

(2)

Toridol Holdings CorporationInterest in controled corporation

(2)(3)

1,000,000,000 (L)74.25%

Toridol Holdings Corporation于受控法团的权益

(2)(3)

Mr. Awata TakayaInterest in controled corporation

(2)(3)

1,000,000,000 (L)74.25%

粟田贵也先生于受控法团的权益

(2)(3)

Mrs. Awata ToshimiInterest of spouse

(3)

1,000,000,000 (L)74.25%

粟田利美女士配偶权益

(3)

Notes:

  • “L” denotes the person’s long position in the Shares.
  • , which was in turn

owned as to aproximately 36.88% by Mr. Awata Takaya as at 31 March 2025. By virtue of the

SFO, each of Toridol Holdings Corporation and Mr. Awata Takaya is demed to be interested in

the Shares held by Toridol Holding Limited.

  • , Mrs. Awata

Toshimi is demed to be interested in the Shares in which Mr. Awata Takaya is interested.

  • , Mr. Someya Norifumi, a non-executive Director, was the head of the legal

department of Toridol Holdings Corporation; and Mr. Hatomoto Toru, a non-executive Director,

was the general manager of the corporate planing department of Toridol Holdings Corporation.

谭仔国际有限公司 2024/25 年报

REPORT OF THE DIRECTORS

董事会报告

除上文披露者外，于二零二五年三月三十一日，

根据公开资料，董事并不知悉有任何其他人士

（董事及最高行政人员除外）于本公司的股份或

相关股份中拥有根据证券及期货条例第XV部第2

及3分部条文须予披露或须记入本公司根据证券

及期货条例第336条须予存置的登记册的权益或

淡仓。

关连交易及持续关连交易

由于Toridol日本为本公司控股东，故根据上市

规则第14A章，Toridol日本及其附属公司（本集团

成员公司除外）各自为本公司的关连人士。

Save as disclosed above, as at 31 March 2025 based on publicly available

information, the Directors are not aware of any other persons (other than

the Directors and the chief executives) who had interests or short positions

in the shares or underlying shares of the Company, which would fal to be

disclosed under the provisions of Divisions 2 and 3 of Part XV of the SFO

or were required to be entered in the register required to be kept by the

Company under section 336 of the SFO.

CONECTED TRANSACTION AND CONTINUING

CONECTED TRANSACTIONS

As Toridol Japan is a controling shareholder of the Company, each of

Toridol Japan and its subsidiaries (other than members of the Group) is

a conected person of the Company under Chapter 14A of the Listing

Rules.

Tam Jai International Co. Limited Anual Report 2024/25

REPORT OF THE DIRECTORS

董事会报告

本集团与Toridol日本及其附属公司（本集团成员

公司除外）于二零二五财政年度进行的下列交易

构成本公司的关连交易或持续关连交易（视情况

而定）须遵守上市规则第14A章的报告及年度审

阅规定：

持续关连交易

1. 业务咨询服务

于二零二四年三月二十八日，本公司与东

利多香港订立业务咨询服务协议（「二零二

四年业务咨询服务协议」），据此，东利多香

港已同意向本公司提供业务咨询服务，包

括(i)协助制定与Toridol日本整体业务策略

一致的本集团业务策略；(i)为本集团各地

理区域业务提供有关市场趋势或竞争分析

的统计资料，并分享其见解；及(i)分享有

关改善前线店舖营运的专业知识及资讯，

并就本集团业务营运指引的制定提供意见

（「业务咨询服务」）。二零二四年业务咨询

服务协议自二零二四年四月一日起至二零

二七年三月三十一日（包括首尾两日）止为

期三年。截至二零二七年三月三十一日止

三个年度，二零二四年业务咨询服务协议

项下拟进行交易的年度上限分别为3.5百万

港元、4百万港元及4.5百万港元。本集团于

二零二五财政年度就业务咨询服务已付╱

应付的实际服务费为768,000港元，该金额

不超过二零二五财政年度的年度上限。

The folowing transactions betwen the Group (on one hand) and Toridol

Japan and its subsidiaries (other than members of the Group) (on the other

hand) during FY2025 constituted conected transaction or continuing

conected transactions (as the case may be) of the Company, which are

subject to the reporting and anual review requirements under Chapter

14A of the Listing Rules:

Continuing Conected Transactions

1. Busines Consulting Services

On 28 March 2024, the Company and Toridol HK entered into

a busines consulting service agrement (the “2024 Busines

Consulting Service Agrement”), pursuant to which Toridol

HK has agred to provide busines consulting services to the

Company, which include (i) asistance in the development of the

strategies for the busines of the Group, which wil be in line with the

overal busines strategy of Toridol Japan; (i) provision of statistic

information on market trends or competitive analysis and sharing

insights to each geographic region of the busines of the Group;

and (i) provision of expertise and knowledge sharing on improving

frontline store operations and providing advice on the development

of guidelines for the operations of the busines of the Group (the

“Busines Consulting Services”). The 2024 Busines Consulting

Service Agrement has a term of thre years comencing from

1 April 2024 and ending on 31 March 2027 (both days inclusive).

The anual caps for the transactions contemplated under the 2024

Busines Consulting Service Agrement for the thre years ending

31 March 2027 are HK$3.5 milion, HK$4 milion and HK$4.5

milion, respectively. The actual service fe paid/payable by the

Group in relation to Busines Consulting Services for FY2025 was

HK$768,000, which did not exced the anual cap for FY2025.

谭仔国际有限公司 2024/25 年报

REPORT OF THE DIRECTORS

董事会报告

2. 营运支援服务

于二零二四年三月二十八日，本公司与

Toridol日本订立营运支援服务协议（「二零

二四年营运支援服务协议」），据此，Toridol

日本已同意向本公司提供营运支援服务以

配合本集团日后在日本的业务，包括(a)于

开店前阶段，(i)协助设立供应链管理系统，

包括寻找供应商；(i)协助取得牌照及遵守

适用法律法规；(i)协助我们餐厅的选址及

租赁事宜；(iv)就我们餐厅的设计开发及建

筑工程提供意见及协助协调有关事宜；(v)

就企业社会责任、营销策略及质量核证提

供意见；及(vi)提供支援职能，例如人力资

源、行政、会计及财务服务；及(b)于开店

后阶段，(i)提供存货控制、质量检测及店舖

审计服务；(i)协助数据收集及设立和维护

顾客反馈系统；(i)协助我们餐厅的持续选

址及维护工作协调；(iv)协助营销及推广活

动；及(v)提供持续支援职能，例如人力资

源、行政、资讯技术维护、会计及财务服务

（「营运支援服务」）。二零二四年营运支援

服务协议自二零二四年四月一日起至二零

二七年三月三十一日（包括首尾两日）止为

期三年。截至二零二七年三月三十一日止

三个年度，二零二四年营运支援服务协议

项下拟进行交易的年度上限分别为3百万港

元、3.5百万港元及4百万港元。本集团于二

零二五财政年度就营运支援服务已付╱应

付的实际服务费为936,000港元，该金额不

超过二零二五财政年度的年度上限。

东利多香港及Toridol日本各自为本公司的

控股东，故为本公司的关连人士。因此，

根据上市规则第14A章，二零二四年业务咨

询服务协议及二零二四年营运支援服务协

议项下拟进行的各项交易构成本公司的持

续关连交易。

2. Operations Suport Services

On 28 March 2024, the Company and Toridol Japan entered into

an operations suport service agrement (the “2024 Operation

Suport Service Agrement”), pursuant to which Toridol Japan

has agred to provide operations suport services to the Company

for the Group’s upcoming operations in Japan, which include (a) at

the pre-opening phase, (i) asistance in establishing suply chain

management system including sourcing of supliers; (i) asistance

in obtaining licences and complying with aplicable laws and

regulations; (i) asistance in site selection and tenancy maters of

our restaurants; (iv) provision of advice on and asistance in the

cordination of design development and construction work for our

restaurants; (v) provision of advice on corporate social responsibility,

marketing strategy and quality asurance; and (vi) provision of

suporting functions such as human resources, administrative,

acounting and finance services; and (b) at the post-opening

phase, (i) provision of inventory control, quality inspection and store

audit services; (i) asistance in data colection and establishing

and maintaining customer fedback system; (i) asistance in on-

going site selection and cordination of maintenance work for

our restaurants; (iv) asistance in the marketing and promotional

activities; and (v) provision of on-going suporting functions such as

human resources, administrative, IT maintenance, acounting and

finance services (the “Operations Suport Services”). The 2024

Operation Suport Service Agrement has a term of thre years

comencing from 1 April 2024 and ending on 31 March 2027 (both

days inclusive). The anual caps for the transactions contemplated

under the 2024 Operations Suport Service Agrement for the thre

years ending 31 March 2027 are HK$3 milion, HK$3.5 milion and

HK$4 milion, respectively. The actual service fe paid/payable by

the Group in relation to Operations Suport Services for FY2025 is

HK$936,000, which did not exced the anual cap for FY2025.

Each of Toridol HK and Toridol Japan is a controling shareholder

of the Company and therefore a conected person of the Company.

Acordingly, the transactions contemplated under each of the 2024

Busines Consulting Service Agrement and the 2024 Operations

Suport Service Agrement constitute continuing conected

transactions of the Company under Chapter 14A of the Listing

Rules.

Tam Jai International Co. Limited Anual Report 2024/25

REPORT OF THE DIRECTORS

董事会报告

3. 管理服务

于二零二三年六月一日，本公司与当时为

东利多香港的全资附属公司丸龟制面（香

港）有限公司（「香港丸龟制面」，连同其附

属公司统称「香港丸龟制面集团」）订立管理

服务协议（「二零二三年管理服务协议」），

据此，本集团将向香港丸龟制面集团提供

管理服务，包括(i)协助稳定香港丸龟制面于

香港以「丸亀」品牌经营「丸亀制面」乌冬面

店的业务（「香港丸龟制面业务」）营运；(i)协

助香港丸龟制面业务采购进程；(i)提供有

关改善前线店舖营运的专业知识及知识分

享；(iv)协助香港丸龟制面业务的营销活动

及提供营销计划；(v)提供一般支援服务（包

括但不限于与业主磋商场地发展、项目管

理及维护、资讯科技支援、会计与金融服

务以及法律支援服务）；及(vi)协助加强报告

制度的执行（统称「管理服务」），年期自二

零二三年六月一日起至二零二四年五月三

十一日（包括首尾两日）止。

于二零二三年六月一日至二零二四年三月

三十一日期间及二零二四年四月一日至二

零二四年五月三十一日期间，香港丸龟制

面根据二零二三年管理服务协议向本集

团支付服务费的年度上限分别不会超过

5,000,000港元及1,000,000港元。自二零

二四年四月一日起至二零二四年五月三

十一日止期间，本集团根据二零二三年管

理服务协议已收╱应收的实际服务费约为

547,000港元，有关服务费并无超过相关的

年度上限。

于二零二四年五月三十一日，本公司与香

港丸龟制面订立新管理服务协议（「二零二

四年管理服务协议」），据此，本集团将于二

零二四年六月一日至二零二五年五月三十

一日（包括首尾两天）期间向香港丸龟制面

集团提供管理服务，于二零二四年六月一

日至二零二五年三月三十一日止期间及二

零二五年四月一日至二零二五年五月三十

一日止期间的交易上限分别为5,000,000港

元及1,000,000港元。

3. Management Services

On 1 June 2023, the Company entered into a management services

agrement (the “2023 Management Services Agrement”) with

Marugame (HK) Limited (“MGHK” and together with its subsidiaries,

the “MGHK Group”) (a then wholy-owned subsidiary of Toridol

HK), pursuant to which the Group wil provide the MGHK Group

with management services including (i) asistance in stabilizing the

operation of “Marugame Seimen” restaurants serving udon nodles

under the brand name of “Marugame” in Hong Kong by MGHK

(the “MGHK Busines”); (i) asistance in the procurement proces

of the MGHK Busines; (i) provision of expertise and knowledge

sharing on improving frontline store operations; (iv) asistance in

marketing activities and provision of marketing plans for the MGHK

busines; (v) provision of general suport services (including but not

limited to negotiation with landlords in the case of site development,

project management and maintenance, information technology

suport, acounting and finance services, and legal suport

services); and (vi) asistance in strengthening the enforcement of

reporting system (colectively, the “Management Services”) for a

term comencing from 1 June 2023 to 31 May 2024 (both days

inclusive).

The anual caps for the service fes to be paid by MGHK to the

Group pursuant to the 2023 Management Services Agrement shal

not exced HK$5,000,000 and HK$1,000,000 for the period from 1

June 2023 to 31 March 2024 and the period from 1 April 2024 to 31

May 2024, respectively. The actual service fe received/receivable

by the Group under the 2023 Management Services Agrement for

the period from 1 April 2024 to 31 May 2024 was aproximately

HK$547,000, which did not exced the relevant anual cap.

On 31 May 2024, the Company and MGHK entered into a new

management service agrement (“2024 Management Services

Agrement”), pursuant to which the Group wil provide the

Management Services to the MGHK Group for the period from 1

June 2024 to 31 May 2025 (both days inclusive) with transaction

caps of HK$5,000,000 and HK$1,000,000 for the period from 1

June 2024 to 31 March 2025 and the period from 1 April 2025 to

31 May 2025, respectively.

谭仔国际有限公司 2024/25 年报

REPORT OF THE DIRECTORS

董事会报告

于订立二零二三年管理服务协议及二零二

四年管理服务协议当日，香港丸龟制面为

本公司控股东利多香港的全资附属公

司。因此，香港丸龟制面为本公司的关连

人士。因此，根据上市规则第14A章，二零

二三年管理服务协议及二零二四年管理服

务协议项下拟进行的交易各自构成本公司

的持续关连交易。

自二零二四年六月一日起至二零二五年三

月三十一日止期间，本集团根据二零二四

年管理服务协议已收╱应收的实际服务费

约为1,360,000港元，该金额不超过相关年

度上限。

本集团于二零二四年十一月自东利多香港

收购东利多和颐控股有限公司（其直接持

有香港丸龟制面）后，香港丸龟制面成为本

公司间接全资附属公司，根据上市规则第

14A章，二零二四年管理服务协议及其项下

拟进行的交易不再为本公司的持续关连交

易。详情请参阅下文「关联交易—5.收购东

利多和颐控股有限公司的股权」一节。

4. 主特许经营协议

于二零二三年十一月十三日，谭仔日式概

念（本公司的全资附属公司）与Toridol日

本订立主特许经营协议（「主特许经营协

议」），年期自二零二三年十一月十三日起

至二零二六年十一月十二日（包括首尾两

日）止，并可于订约双方书面同意下重续，

前提为本公司须遵守上市规则所有适用

规定。

根据主特许经营协议，Toridol日本向谭仔

日式概念授出在香港的独家权利，以：(i)根

据主特许经营协议的条款使用相关系统及

商标建立和经营（或授权其全资附属公司建

立和经营）餐厅业务；(i)授权非联属第三方

根据主特许经营协议的条款使用相关系统

及商标发展和经营餐厅业务；及(i)仅为行

使权利而使用相关商标及系统，以授权非

联属第三方根据主特许经营协议的条款使

用相关系统及商标发展和经营餐厅业务。

As at the date of the entering into of each of the 2023 Management

Services Agrement and the 2024 Management Services

Agrement, MGHK was a wholy-owned subsidiary of Toridol HK,

a controling shareholder of the Company. Therefore, MGHK was a

conected person of the Company. The transactions contemplated

under each of the 2023 Management Services Agrement and

the 2024 Management Services Agrement therefore constituted

continuing conected transactions for the Company under Chapter

14A of the Listing Rules.

The actual service fe received/receivable by the Group under the

2024 Management Services Agrement for the period from 1 June

2024 to 31 March 2025 was aproximately HK$1,360,000, which

did not exced the relevant anual cap.

Folowing the acquisition of Toridol and Heyi Holding Limited (which

directly holds MGHK) by the Group from Toridol HK in November

2024, MGHK has become an indirectly wholy-owned subsidiary of

the Company, and the 2024 Management Services Agrement and

the transactions contemplated thereunder ceased to be continuing

conected transactions for the Company under Chapter 14A of the

Listing Rules. For details, please refer to the section headed “Conected

Transactions — 5. Acquisition of equity interest in Toridol and Heyi

Holding Limited” below.

4. Master Franchise Agrement

On 13 November 2023, TJI Japanese Concepts (a wholy-owned

subsidiary of the Company) entered into a master franchise agrement (the

“Master Franchise Agrement”) with Toridol Japan for a term

comencing from 13 November 2023 to 12 November 2026

(both days inclusive), and may be renewed subject to the parties’

mutual agrement in writing and the Company’s compliance with al

aplicable requirements under the Listing Rules.

Pursuant to the Master Franchise Agrement, Toridol Japan grants

to TJI Japanese Concepts the exclusive rights in Hong Kong to: (i)

establish and operate (or license its wholy-owned subsidiaries to

establish and operate) a restaurant busines by using the relevant

system and the marks in acordance with the terms of the Master

Franchise Agrement; (i) license unafiliated third party(ies) to

develop and operate a restaurant busines by using the relevant

system and the marks in acordance with the terms of the Master

Franchise Agrement; and (i) use the relevant marks and the system

only for the purpose of exercising the right to license unafiliated

third party(ies) to develop and operate a restaurant busines by

using the relevant system and marks in acordance with the terms

of the Master Franchise Agrement.

Tam Jai International Co. Limited Anual Report 2024/25

REPORT OF THE DIRECTORS

董事会报告

于二零二三年十一月十三日至二零二四年

三月三十一日期间、截至二零二五年及二

零二六年三月三十一日止两个年度以及于

二零二六年四月一日至二零二六年十一月

十二日期间，主特许经营协议项下拟进行

交易的年度上限分别为2百万港元、4百万

港元、8百万港元及8百万港元。截至二零

五年三月三十一日止年度，主特许经营协

议项下实际交易金额为225,000港元，有关

金额并无超过相关的年度上限。

Toridol日本为本公司的控股东，故为本

公司的关连人士。根据上市规则第14A章，

主特许经营协议项下拟进行交易构成本公

司的持续关连交易。

有关二零二四年业务咨询服务协议及二零二四年

营运支援服务协议的详情载于本公司日期为二零

二四年三月二十八日的公告。有关二零二三年管

理服务协议及二零二四年管理服务协议的详情载

于本公司日期为二零二三年六月一日及二零二四

年五月三十一日的公告。有关主特许经营协议的

详情载于本公司日期为二零二三年十一月十三日

的公告。

独立非执行董事及核数师的确认

根据上市规则第14A.55条，独立非执行董事已审

阅二零二四年业务咨询服务协议、二零二四年营

运支援服务协议、二零二三年管理服务协议、二

零二四年管理服务协议及主特许经营协议（统称

「该等持续关连交易协议」），并确认据此进行的

交易乃：(i)于本集团的日常及一般业务过程中订

立；(i)按一般商业条款或更佳条款进行；及(i)根

据有关交易的协议进行，其条款属公平合理且符

合股东的整体利益。

The anual caps for the transactions contemplated under the Master

Franchise Agrement during the period from 13 November 2023 to

31 March 2024, the two years ending 31 March 2025 and 2026,

and the period from 1 April 2026 to 12 November 2026 are HK$2

milion, HK$4 milion, HK$8 milion and HK$8 milion, respectively.

The actual transactions under the Master Franchise Agrement for

the year ended 31 March 2025 was HK$225,000, which did not

exced the relevant anual cap.

Toridol Japan is a controling shareholder of the Company and

therefore a conected person of the Company. The transactions

contemplated under the Master Franchise Agrement constitute

continuing conected transactions for the Company under Chapter

14A of the Listing Rules.

Details of the 2024 Busines Consulting Service Agrement and the 2024

Operations Suport Service Agrement are set out in the anouncement

of the Company dated 28 March 2024; details of the 2023 Management

Services Agrement and the 2024 Management Services Agrement are

set out in the anouncements of the Company dated 1 June 2023 and 31

May 2024; and details of the Master Franchise Agrement are set out in

the anouncement of the Company dated 13 November 2023.

Confirmations from the independent non-executive Directors and the

auditor

In acordance with rule 14A.55 of the Listing Rules, the independent

non-executive Directors have reviewed the 2024 Busines Consulting

Service Agrement, 2024 Operations Suport Service Agrement,

2023 Management Services Agrement, 2024 Management Services

Agrement, and the Master Franchise Agrement (colectively, the “CT

Agrements”), and confirmed the transactions conducted thereunder

have ben entered into: (i) in the ordinary and usual course of the

busines of the Group; (i) on normal or beter comercial terms; and (i)

in acordance with the relevant agrements governing them on terms that

are fair and reasonable and in the interests of the Shareholders as a whole.

谭仔国际有限公司 2024/25 年报

REPORT OF THE DIRECTORS

董事会报告

根据上市规则第14A.56条，本公司委聘其核数师

以遵照香港会计师公会颁布的香港核证委聘准则

第3000号（经修订）「审核或审阅过往财务资料以

外的核证委聘」并参照实务说明第740号（经修订）

「关于上市规则所述持续关连交易的核数师函件」

对本集团的持续关连交易进行汇报。核数师已发

出无保留意见的函件，当中载有其对本集团在二

零二五财政年度进行的持续关连交易的发现及结

论，确认没有发现任何事项令其认为该等持续关

连交易：

(i) 未经董事会的批准；

(i) （对涉及本集团提供货品或服务的关连交易

而言）在各重大方面并非依据本集团定价

政策；

(i) 在所有重大方面没有按照规范交易的相关

协定进行；及

(iv) 已超过本公司定下的年度上限。

本公司已接获核数师函件的副本。

关连交易

5. 收购东利多和颐控股有限公司的股权

于二零二四年十一月八日，本公司的间接

全资附属公司谭仔日式概念与东利多香港

订立协议，据此，谭仔日式概念同意购买

而东利多香港同意出售东利多和颐控股有

限公司的全部股权，代价为4.1百万港元。

董事会相信，收购事项可让本集团更有效

地运用现有资源多元化拓展及扩大其收入

来源。

东利多香港为本公司控股东，于本公司

已发行股本中拥有约74.25%权益。因此，

东利多香港为本公司的关连人士。根据上

市规则第14A章，该收购事项构成本公司的

关连交易。

进一步详情请参阅本年报「本集团的重大收

购及出售」一节。

In acordance with rule 14A.56 of the Listing Rules, the Company has

engaged its auditor to report on the Group’s continuing conected

transactions in acordance with Hong Kong Standard on Asurance

Engagements 3000 (Revised), Asurance Engagements Other Than

Audits or Reviews of Historical Financial Information and with reference to

Practice Note 740 (Revised), Auditor’s Leter on Continuing Conected

Transactions under the Listing Rules isued by the Hong Kong Institute

of Certified Public Acountants. The auditor has isued its unqualified

leter containing the findings and conclusions in respect of the continuing

conected transactions made by the Group disclosed above for FY2025

confirming that nothing has come to its atention that causes it to believe

that the continuing conected transactions:

(i) have not ben aproved by the Board;

(i) (for the conected transactions involving the provision of gods

or services by the Group) were not in acordance with the pricing

policies of the Group in al material aspects;

(i) were not entered into, in al material respects, in acordance with

the relevant agrements governing the transactions; and

(iv) have exceded the anual cap as set by the Company.

A copy of the auditor’s leter has ben provided to the Company.

Conected transaction

5. Acquisition of equity interest in Toridol and Heyi Holding

Limited

On 8 November 2024, TJI Japanese Concepts, an indirectly wholy-

owned subsidiary of the Company, and Toridol HK entered an

agrement pursuant to which TJI Japanese Concepts agred to

acquire, and Toridol HK agred to sel, the entire equity interest in

Toridol and Heyi Holding Limited at the consideration of HK$4.1

milion. The Board believes that the Acquisition wil enable the Group

to more efectively leverage its existing resources to diversify and

expand its revenue streams.

Toridol HK is a controling shareholder of the Company, interested in

aproximately 74.25% of the isued share capital of the Company.

Therefore, Toridol HK is a conected person of the Company. The

acquisition constitutes conected transactions for the Company

under Chapter 14A of the Listing Rules.

Please refer to the section headed “Material acquisitions and

disposals by the Group” in this anual report for further details.

Tam Jai International Co. Limited Anual Report 2024/25

REPORT OF THE DIRECTORS

董事会报告

关联方交易

本集团于二零二五年财政年度的关联方交易详情

载于综合财务报表附注29，其中部分根据上市规

则第14A章亦构成本公司持续关连交易。与董事

的薪酬有关的关联方交易构成上市规则第14A章

定义的持续关连交易。然而，该等交易获完全豁

免遵守上市规则第14A章的规定。根据上市规则

第14A章，有关本公司高级管理层（董事除外）薪

酬的关联方交易，不符合关连交易或持续关连交

易的定义。除根据该等持续关连交易协议进行的

交易外，董事确认，综合财务报表附注29所载的

所有其他关联方交易不属于上市规则第14A章规

定的「关连交易」或「持续关连交易」定义范围或完

全获豁免（视情况而定）。董事确认，彼等已遵守

上市规则第14A章关于二零二五年财政年度的披

露要求。

管理合约

于二零二五财政年度概无订立或存在有关本公

司全部或任何重大部分业务管理及行政事宜的

合约。

购买、出售或赎回本公司上市证券

于二零二五财政年度，本公司及其附属公司概无

购买、出售或赎回本公司上市证券的任何权益

（包括出售任何库存股份）。于二零二五年三月三

十一日，本公司并无任何库存股份。

建议私有化

兹提述本公司与东利多控股有限公司（「要约人」）

联合刊发日期为二零二五年六月六日的综合计

划文件（「计划文件」）。除另有界定者外，本「建议

私有化」章节所用词汇与计划文件所界定者具有

相同涵义。于二零二五年二月十七日，要约人及

本公司联合宣布，于二零二五年二月三日（交易

时段后），要约人要求董事会向计划股东提呈建

议，透过公司条例第673条（香港法例第622章）项

下的计划安排将本公司私有化。

RELATED PARTY TRANSACTIONS

Details of the related party transactions of the Group for FY2025 are set

out in note 29 to the consolidated financial statements, some of which

also constitute continuing conected transactions for the Company

under Chapter 14A of the Listing Rules. The related party transactions in

respect of the remuneration of Directors constitute continuing conected

transactions as defined in Chapter 14A of the Listing Rules. However,

these transactions are fuly exempt from the requirements under Chapter

14A of the Listing Rules. The related party transactions in respect of the

remuneration of senior management (other than Directors) of the Company

did not fal under the definition of conected transactions or continuing

conected transactions as defined in Chapter 14A of the Listing Rules.

Save for the transactions conducted under the CT Agrements, the

Directors confirmed that al other related party transactions set out in note

29 to the consolidated financial statements do not fal within the definition

of “conected transactions” or “continuing conected transactions” or are

fuly exempted under Chapter 14A of the Listing Rules (as the case may

be). The Directors confirmed that they have complied with the disclosure

requirements in Chapter 14A of the Listing Rules for FY2025.

MANAGEMENT CONTRACTS

No contract, concerning the management and administration of the whole

or any substantial part of the busines of the Company was entered into

or existed during FY2025.

PURCHASE, SALE OR REDEMPTION OF THE

COMPANY’S LISTED SECURITIES

During FY2025, neither the Company nor any of its subsidiaries has

purchased, redemed or sold interest in any of the Company’s listed

securities (including sale of any treasury shares). As at 31 March 2025, the

Company did not have any treasury shares.

THE PROPOSED PRIVATISATION

Reference is made to the composite scheme document (the “Scheme

Document”) jointly isued by the Company and Toridol Holding Limited

(the “Oferor”) dated 6 June 2025. Unles otherwise defined, capitalised

terms used in this section headed “The Proposed Privatisation” have

the same meanings as those defined in the Scheme Document. On 17

February 2025, the Oferor and the Company jointly anounced that on 3

February 2025 (after trading hours), the Oferor requested the Board to put

forward a proposal to the Scheme Shareholders for the privatisation of the

Company by way of a scheme of arangement under Section 673 of the

Companies Ordinance (Cap. 622 of the Laws of Hong Kong).

谭仔国际有限公司 2024/25 年报

REPORT OF THE DIRECTORS

董事会报告

于二零二五年六月三十日召开及举行的法院会议

上，计划股东已批准计划，待计划生效后，计划

股份将被注销，以换取要约人就每股计划股份以

现金向计划股东支付注销价1.58港元（减股息调

整（如有），而股份于联交所的上市地位将于生

效日期后撤销。建议及计划须待计划文件所载条

件获达成或豁免（如适用）后，方会实施。

详情请参阅本公司日期为二零二五年六月三十日

的公告，内容有关（其中包括）法院会议及股东特

别大会之结果。

报告期后事项

除上文「建议私有化」一节所披露者外，截至二零

二五年三月三十日止年度后及直至本年报日期，

本集团并无发生重大事项而对本集团的表现及价

值造成重大影响。

获准许弥偿

在适用法律的规限下，本集团公司每名董事有权

根据相关公司各自的组织章程获有关公司弥偿

其在执行及履行职责时引致或与此有关的所有成

本、收费、损失、费用及债务。此等条文在二零

二五财政年度期间有效，并于本年报日期亦维持

有效。本公司已就本集团之董事可能面对任何诉

讼时抗辩的责任与相关费用投购保险。

公众持股量充足

根据本公司所得公开资料及据董事所知，于本年

报日期，本公司维持上市规则规定的足够公众持

股量。

At the Court Meting convened and held on 30 June 2025, the Scheme

Shareholders have aproved the Scheme and upon the Scheme

becoming efective, the Scheme Shares wil be canceled in exchange

for the payment by the Oferor to the Scheme Shareholders of the

Cancelation Price of HK$1.58 in cash, les the Dividend Adjustment (if

any), for each Scheme Share, and the listing of the Shares on the Stock

Exchange wil be withdrawn after the Efective Date. The implementation

of the Proposal and the Scheme are subject to the fulfilment or wavier (as

aplicable) of Conditions as set out in the Scheme Document.

For details, please refer to the anouncement of the Company dated 30

June 2025 in relation to, among others, the results of the Court Meting

and the EGM.

EVENT(S) AFTER THE REPORTING PERIOD

Save as disclosed under the section headed “The Proposed Privatisation”

above, after the year ended 31 March 2025 and up to the date of this

anual report, no significant event in respect of the Group has ocured

which has a material impact on the performance and value of the Group.

PERMITED INDEMNITY

Subject to the aplicable laws, every director of the Group’s companies

shal be entitled to be indemnified by the relevant company against

al costs, charges, loses, expenses and liabilities incured by him or

her in the execution and discharge of his or her duties or in relation

thereto pursuant to the respective articles of asociations of the relevant

companies. Such provisions were in force during the course of FY2025

and remained in force as of the date of this anual report. The Company

has taken out insurance against the liability costs asociated with

defending any procedings which may be brought against directors of the

Group.

SUFICIENCY OF PUBLIC FLOAT

Based on information that is publicly available to the Company and within

the knowledge of the Directors, the Company has maintained a suficient

public float as required under the Listing Rules as at the date of this anual

report.

Tam Jai International Co. Limited Anual Report 2024/25

REPORT OF THE DIRECTORS

董事会报告

不竞争契据

本公司控股东Toridol日本、东利多香港、粟田

贵也先生、粟田利美女士及T&T Inc.已向本公司

确认，彼等于上市日期起直至二零二五年三月三

十一日遵守根据日期为二零二一年九月十六日的

不竞争契据（「不竞争契据」）向本公司作出的不竞

争承诺。董事会及所有独立非执行董事已审视各

控股东的遵守情况及提供的确认，且并无发现

二零二五财政年度存在任何情况会影响不竞争契

据条款的遵守情况及执行情况。因此，彼等信纳

不竞争契据已获全面遵守。

企业管治常规及企业管治报告

本集团企业管治常规的详情载于本年报第30至

52页所载的企业管治报告内。

审核委员会

本公司截至二零二五年三月三十一日止年度之综

合全年业绩已由本公司审核委员会审阅。

核数师

本集团截至二零二五年三月三十一日止年度的综

合财务报表由毕马威会计师事务所审核，其任期

将于股东周年大会结束时届满。自上市日期起，

核数师并无变动。

续聘毕马威会计师事务所为本公司下一年度核数

师的决议案将于股东周年大会上提呈。

代表董事会

主席兼行政总裁

刘达民先生

香港，二零二五年五月九日

DED OF NON-COMPETITION

Each of Toridol Japan, Toridol HK, Mr. Awata Takaya, Mrs. Awata

Toshimi and T&T Inc., being controling shareholders of the Company, has

confirmed to the Company of their compliance with the non-competition

undertakings provided to the Company under a ded of non-competition

dated 16 September 2021 (the “Ded of Non-competition”) since the

Listing Date and up to 31 March 2025. The Board and al the independent

non-executive Directors had reviewed the status of compliance and the

confirmations provided by each of the controling shareholders and are

not aware of any circumstance which would afect the compliance and

enforcement of the terms under the Ded of Non-competition during

FY2025. Acordingly, they are satisfied that the Ded of Non-competition

has ben fuly complied with.

CORPORATE GOVERNANCE PRACTICES AND

CORPORATE GOVERNANCE REPORT

Details of the Group’s corporate governance practices can be found in the

Corporate Governance Report contained on pages 30 to 52 of this anual

report.

AUDIT COMITE

The Company’s consolidated anual results for the year ended 31 March

2025 has ben reviewed by the Audit Comite of the Company.

AUDITOR

The consolidated financial statements of the Group for the year ended 31

March 2025 have ben audited by KPMG whose term of ofice wil expire

upon the conclusion of the AGM. There has ben no change in auditors

since the Listing Date.

A resolution for the re-apointment of KPMG as the auditor of the

Company for the subsequent year wil be proposed at the AGM.

On behalf of the Board

Mr. Lau Tat Man

Chairman and Chief Executive Oficer

Hong Kong, 9 May 2025

Independent audItor’s report

独立核数师报告

谭仔国际有限公司 2024/25 年报

致谭仔国际有限公司股东

（于香港注册成立的有限公司）

意见

本核数师（以下简称「我们」）已审计列载于第97至

182页的谭仔国际有限公司（以下简称「贵公司」）

及其附属公司（以下统称「贵集团」）的综合财务报

表，此财务报表包括于二零二五年三月三十一日

的综合财务状况表与截至该日止年度的综合损益

表、综合损益及其他全面收益表、综合权益变动

表和综合现金流量表，以及附注（包括重大会计

政策资料及其他解释资料）。

我们认为，该等综合财务报表已根据香港会计师

公会颁布的《香港财务报告准则会计准则》真实而

中肯地反映了 贵集团于二零二五年三月三十一

日的综合财务状况及截至该日止年度的综合财务

表现及综合现金流量，并已遵照香港《公司条例》

妥为拟备。

意见的基础

我们已根据香港会计师公会颁布的《香港审计准

则》进行审计。我们在该等准则下承担的责任已

在本报告「核数师就审计综合财务报表承担的

责任」一节中作进一步阐述。根据香港会计师公

会颁布的《专业会计师道德守则》（以下简称「守

则」），我们独立于 贵集团，并已履行守则中的

其他专业道德责任。我们相信，我们所获得的审

计凭证能充足及适当地为我们的审计意见提供

基础。

to the members of Tam Jai International Co. Limited

(Incorporated in Hong Kong with limited liability)

OPINION

We have audited the consolidated financial statements of Tam Jai

International Co. Limited (“the Company”) and its subsidiaries (“the

Group”) set out on pages 97 to 182, which comprise the consolidated

statement of financial position as at 31 March 2025, the consolidated

statement of profit or los, the consolidated statement of profit or los and

other comprehensive income, the consolidated statement of changes in

equity and the consolidated cash flow statement for the year then ended

and notes, comprising material acounting policy information and other

explanatory information.

In our opinion, the consolidated financial statements give a true and fair

view of the consolidated financial position of the Group as at 31 March

2025 and of its consolidated financial performance and its consolidated

cash flows for the year then ended in acordance with HKFRS Acounting

Standards isued by the Hong Kong Institute of Certified Public

Acountants (“HKICPA”) and have ben properly prepared in compliance

with the Hong Kong Companies Ordinance.

BASIS FOR OPINION

We conducted our audit in acordance with Hong Kong Standards on

Auditing (“HKSAs”) isued by the HKICPA. Our responsibilities under

those standards are further described in the Auditor’s responsibilities for

the audit of the consolidated financial statements section of our report.

We are independent of the Group in acordance with the HKICPA’s Code

of Ethics for Profesional Acountants (“the Code”) and we have fulfiled

our other ethical responsibilities in acordance with the Code. We believe

that the audit evidence we have obtained is suficient and apropriate to

provide a basis for our opinion.

The Group recorded significant balances of right-of- use assets and property, plant and equipment on the consolidated statement of financial position. There is a risk that the value of right-of-use assets and property, plant and equipment in certain restaurants may not be recoverable in full through the future cash flows to be generated from operations of those restaurants or from disposal of the related right-of-use assets and property, plant and equipment. 贵集团于综合财务状况表中录得使用权资产及物业、 机器及设备的重大结余。若干餐厅的使用权资产及物 业、机器及设备的价值可能无法通过该等餐厅运营产 生的未来现金流或通过出售相关的使用权资产及物 业、机器及设备而全部收回。 At the end of each reporting period, right-of-use assets and property, plant and equipment are allocated to each individual restaurant which is considered as a cash-generating unit (“CGU”). Management reviews the performance of individual restaurants to identify if any restaurant displays negative performance indicators which could indicate impairment. 于各报告期末，使用权资产及物业、机器及设备被分 配至各餐厅，而该等餐厅各自被视为现金产生单位。 管理层审阅各餐厅的业绩，以确定是否有任何餐厅呈 现出可能表明减值的负面业绩指标。Our audit procedures to assess the potential impairment of right-of-use assets and property, plant and equipment included the following: 我们为了评估使用权资产以及物业、机器及设备的潜在减 值而执行的审计程序包括： — understanding and evaluating the design and implementation of key internal controls over the impairment assessment; 了解及评估对减值评估的主要内部控制的设计和 实施； — evaluating management’s identification of CGUs and allocation of right-of-assets and property, plant and equipment to each CGU with reference to the prevailing accounting standards; 参考现行会计准则，评估管理层对现金产生单位的 识别以及对每个现金产生单位的使用权资产及物 业、机器及设备的分配；

Tam Jai International Co. Limited Anual Report 2024/25

Independent audItor’s report

独立核数师报告

关键审计事项

关键审计事项是根据我们的专业判断，认为对本

期综合财务报表的审计最为重要的事项。这些事

项是在我们审计整体综合财务报表及出具意见

时进行处理的。我们不会对这些事项提供单独的

意见。

评估使用权资产及物业、机器及设备的潜在

减值

参阅综合财务报表附注10及附注1(j)(i)的会计

政策

KEY AUDIT MATERS

Key audit maters are those maters that, in our profesional judgement,

were of most significance in our audit of the consolidated financial

statements of the curent period. These maters were adresed in the

context of our audit of the consolidated financial statements as a whole,

and in forming our opinion thereon, and we do not provide a separate

opinion on these maters.

Asesing potential impairment of right-of-use asets and

property, plant and equipment

Refer to note 10 and the acounting policies in note 1(j)(i) to the

consolidated financial statements

The Key Audit MaterHow the mater was adresed in our audit

关键审计事项我们的审计如何处理该事项

Where indicators of impairment of a restaurant are identified, management performs an impairment assessment of each restaurant by comparing its carrying value with its recoverable amount, which is the higher of fair value less costs of disposal and value in use. The value in use of the right-of-use assets and property, plant and equipment in those restaurants is determined by management on a restaurant-by-restaurant basis based on a discounted cash flow forecast. 倘发现餐厅出现减值迹象，管理层会对各餐厅进行减 值评估，方法是比较其账面值及可收回金额，即公允 价值减去处置成本及使用价值中的较高者。该等餐厅 的使用权资产及物业、机器及设备的使用价值乃由管 理层根据贴现现金流预测以餐厅为基准厘定。 We identified potential impairment of right-of-use assets and property, plant and equipment as a key audit matter because the discounted cash flow forecast used to assess the value in use is based on a number of assumptions, including estimations of future revenue, food cost inflation, staff cost inflation and the discount rate applied, which are subject to a significant degree of judgement and could be subject to management bias. 我们将使用权资产及物业、机器及设备的潜在减值识 别为关键审计事项，因为用于评估使用价值的贴现现 金流预测乃基于多项假设，包括对未来收入、食品成 本上涨、员工成本上涨及所应用的折现率的估计，该 等假设都需要作出很大程度的判断，且可能受到管理 层的偏见影响。— challenging management’s identification of impairment indicators with reference to the prevailing accounting standards; 参考现行会计准则，质疑管理层对减值指标的识别； — assessing the methodology adopted by management in its preparation of the discounted cash flow forecasts with reference to the requirements of the prevailing accounting standards; 参考现行会计准则的要求评估管理层于拟备贴现现 金流预测时所采纳的方法； — evaluating the key assumptions adopted by management in its preparation of the discounted cash flow forecasts, including future revenue, food cost inflation and staff cost inflation by referring to industry and other available third party information, recent financial performance of the restaurant operations and management’s budgets and plans; 评估管理层在编制贴现现金流预测时采用的主要假 设，包括通过参考行业及其他可用的第三方资料、 餐厅业务的近期财务业绩以及管理层的预算及计 划，评估未来的收入、食品成本上涨及员工成本上 涨；

谭仔国际有限公司 2024/25 年报

Independent audItor’s report

独立核数师报告

The Key Audit Mater (Continued)How the mater was adresed in our audit (Continued)

关键审计事项（续）我们的审计如何处理该事项（续）

— assessing the discount rate used in the cash flow forecasts by benchmarking against other comparable listed catering groups and taking into consideration company specific risk premiums; 通过与其他类似上市饮食集团进行基准比较，并考 虑公司的具体风险溢价，以评估在现金流量预测中 使用的折现率； — comparing the key assumptions included in the discounted cash flow forecasts prepared by management in the prior year with the current year’s performance to assess the accuracy of the prior year’s forecasts, making enquiries of management as to the reasons for any significant variations identified and whether these had been considered in the current year’s discounted cash flow forecasts and considering if there was any indication of management bias; 将管理层在上一年度编制的贴现现金流预测中包含 的关键假设与本年度的业绩进行比较，以评估上一 年度预测的准确性，向管理层查询任何已发现重大 变化的原因，以及本年度的贴现现金流预测中是否 已考虑到该等变化，并考虑是否有任何管理层偏见 的迹象； — obtaining management’s sensitivity analyses of the discount rate, future revenue, food cost inflation and staff cost inflation and considering the resulting impact on the impairment assessment and whether there is any indication of management bias; and 获取管理层对折现率、未来收入、食品成本上涨及 员工成本上涨的敏感度分析，考虑其对减值评估的 影响，并评估管理层是否有任何偏见的迹象；及 — assessing the disclosures in the consolidated financial statements in respect of the impairment assessment of right-of-use assets and property, plant and equipment with reference to the requirements of the prevailing accounting standards. 参考现行会计准则的要求评估综合财务报表中有关 使用权资产及物业、机器及设备减值评估之披露。

Tam Jai International Co. Limited Anual Report 2024/25

Independent audItor’s report

独立核数师报告

The Key Audit Mater (Continued)How the mater was adresed in our audit (Continued)

关键审计事项（续）我们的审计如何处理该事项（续）

谭仔国际有限公司 2024/25 年报

Independent audItor’s report

独立核数师报告

综合财务报表及其核数师报告以外的

信息

董事需对其他信息负责。其他信息包括刊载于年

报内的全部信息，但不包括综合财务报表及我们

的核数师报告。

我们对综合财务报表的意见并不涵盖其他信息，

我们亦不对该等其他信息发表任何形式的鉴证

结论。

结合我们对综合财务报表的审计，我们的责任是

阅读其他信息，在此过程中，考虑其他信息是否

与综合财务报表或我们在审计过程中所了解的

情况存在重大抵触或者似乎存在重大错误陈述的

情况。

基于我们已执行的工作，如果我们认为其他信息

存在重大错误陈述，我们需要报告该事实。在这

方面，我们没有任何报告。

董事就综合财务报表须承担的责任

董事须负责根据香港会计师公会颁布的香港财务

报告准则会计准则及香港《公司条例》拟备真实而

中肯的综合财务报表，并对其认为使综合财务

报表的拟备不存在由于欺诈或错误而导致的重大

错误陈述所需的内部控制负责。

在拟备综合财务报表时，董事负责评估 贵集团

持续经营的能力，并在适用情况下披露与持续经

营有关的事项，以及使用持续经营为会计基础，

除非董事有意将 贵集团清盘或停止经营，或别

无其他实际的替代方案。

审计委员会协助董事履行监督 贵集团的财务报

告过程的责任。

INFORMATION OTHER THAN THE CONSOLIDATED

FINANCIAL STATEMENTS AND AUDITOR’S REPORT

THEREON

The directors are responsible for the other information. The other

information comprises al the information included in the anual report,

other than the consolidated financial statements and our auditor’s report

thereon.

Our opinion on the consolidated financial statements does not cover the

other information and we do not expres any form of asurance conclusion

thereon.

In conection with our audit of the consolidated financial statements,

our responsibility is to read the other information and, in doing so,

consider whether the other information is materialy inconsistent with the

consolidated financial statements or our knowledge obtained in the audit

or otherwise apears to be materialy mistated.

If, based on the work we have performed, we conclude that there is a

material mistatement of this other information, we are required to report

that fact. We have nothing to report in this regard.

RESPONSIBILITIES OF THE DIRECTORS FOR THE

CONSOLIDATED FINANCIAL STATEMENTS

The directors are responsible for the preparation of the consolidated

financial statements that give a true and fair view in acordance with

HKFRS Acounting Standards isued by the HKICPA and the Hong

Kong Companies Ordinance and for such internal control as the directors

determine is necesary to enable the preparation of consolidated financial

statements that are fre from material mistatement, whether due to fraud

or eror.

In preparing the consolidated financial statements, the directors are

responsible for asesing the Group’s ability to continue as a going

concern, disclosing, as aplicable, maters related to going concern and

using the going concern basis of acounting unles the directors either

intend to liquidate the Group or to cease operations, or have no realistic

alternative but to do so.

The directors are asisted by the Audit Comite in discharging their

responsibilities for overseing the Group’s financial reporting proces.

Tam Jai International Co. Limited Anual Report 2024/25

Independent audItor’s report

独立核数师报告

核数师就审计综合财务报表承担的责任

我们的目标，是对综合财务报表整体是否不存在

由于欺诈或错误而导致的重大错误陈述取得合理

保证，并出具包括我们意见的核数师报告。我们

是按照香港《公司条例》第405条的规定，仅向整

体成员报告。除此以外，我们的报告不可用作其

他用途。我们概不就本报告的内容，对任何其他

人士负责或承担法律责任。

合理保证是高水平的保证，但不能保证按照《香

港审计准则》进行的审计，在某一重大错误陈述

存在时总能发现。错误陈述可以由欺诈或错误引

起，如果合理预期它们单独或汇总起来可能影响

综合财务报表使用者依赖财务报表所作出的经济

决定，则有关的错误陈述可被视作重大。

在根据《香港审计准则》进行审计的过程中，我

们运用了专业判断，保持了专业怀疑态度。我

们亦：

• 识别和评估由于欺诈或错误而导致综合财

务报表存在重大错误陈述的风险，设计及

执行审计程序以应对这些风险，以及获取

充足和适当的审计凭证，作为我们意见的

基础。由于欺诈可能涉及串谋、伪造、蓄意

遗漏、虚假陈述，或凌驾于内部控制之上，

因此未能发现因欺诈而导致的重大错误陈

述的风险高于未能发现因错误而导致的重

大错误陈述的风险。

  • ，以设计适当

的审计程序，但目的并非对 贵集团内部

控制的有效性发表意见。

• 评价董事所采用会计政策的恰当性及作出

会计估计和相关披露的合理性。

AUDITOR’S RESPONSIBILITIES FOR THE AUDIT OF THE

CONSOLIDATED FINANCIAL STATEMENTS

Our objectives are to obtain reasonable asurance about whether the

consolidated financial statements as a whole are fre from material

mistatement, whether due to fraud or eror, and to isue an auditor’s

report that includes our opinion. This report is made solely to you, as

a body, in acordance with section 405 of the Hong Kong Companies

Ordinance, and for no other purpose. We do not asume responsibility

towards or acept liability to any other person for the contents of this

report.

Reasonable asurance is a high level of asurance, but is not a guarante

that an audit conducted in acordance with HKSAs wil always detect a

material mistatement when it exists. Mistatements can arise from fraud

or eror and are considered material if, individualy or in the agregate,

they could reasonably be expected to influence the economic decisions of

users taken on the basis of these consolidated financial statements.

As part of an audit in acordance with HKSAs, we exercise profesional

judgement and maintain profesional scepticism throughout the audit. We

also:

• Identify and ases the risks of material mistatement of the

consolidated financial statements, whether due to fraud or eror,

design and perform audit procedures responsive to those risks,

and obtain audit evidence that is suficient and apropriate to

provide a basis for our opinion. The risk of not detecting a material

mistatement resulting from fraud is higher than for one resulting

from eror, as fraud may involve colusion, forgery, intentional

omisions, misrepresentations, or the overide of internal control.

• Obtain an understanding of internal control relevant to the audit

in order to design audit procedures that are apropriate in the

circumstances, but not for the purpose of expresing an opinion on

the efectivenes of the Group’s internal control.

• Evaluate the apropriatenes of acounting policies used and the

reasonablenes of acounting estimates and related disclosures

made by the directors.

谭仔国际有限公司 2024/25 年报

Independent audItor’s report

独立核数师报告

• 对董事采用持续经营会计基础的恰当性作

出结论。根据所获取的审计凭证，确定是

否存在与事项或情况有关的重大不确定

性，从而可能导致对 贵集团的持续经营

能力产生重大疑虑。如果我们认为存在重

大不确定性，则有必要在核数师报告中提

请使用者注意综合财务报表中的相关披

露。假若有关的披露不足，则我们应当发

表非无保留意见。我们的结论是基于核数

师报告日止所取得的审计凭证。然而，未

来事项或情况可能导致 贵集团不能持续

经营。

  • 、结构

和内容，包括披露，以及综合财务报表是

否中肯反映交易和事项。

  • ，就 贵集团内

实体或业务单位的财务信息获取充足、适

当的审计凭证，作为对 贵集团财务报表

形成意见的基础。我们负责指导、监督和

审查为 贵集团审计目的而执行的审计工

作。我们为审计意见承担全部责任。

除其他事项外，我们与审计委员会沟通了计划的

审计范围、时间安排、重大审计发现等，包括我

们在审计中识别出内部控制的任何重大缺陷。

我们还向审计委员会提交声明，说明我们已符合

有关独立性的相关专业道德要求，并与他们沟通

有可能合理地被认为会影响我们独立性的所有关

系和其他事项，以及为消除对独立性的威胁所采

取的行动或防范措施（若适用）。

  • ’ use of the going

concern basis of acounting and, based on the audit evidence

obtained, whether a material uncertainty exists related to events

or conditions that may cast significant doubt on the Group’s ability

to continue as a going concern. If we conclude that a material

uncertainty exists, we are required to draw atention in our auditor’s

report to the related disclosures in the consolidated financial

statements or, if such disclosures are inadequate, to modify our

opinion. Our conclusions are based on the audit evidence obtained

up to the date of our auditor’s report. However, future events or

conditions may cause the Group to cease to continue as a going

concern.

  • , structure and content of the

consolidated financial statements, including the disclosures,

and whether the consolidated financial statements represent the

underlying transactions and events in a maner that achieves fair

presentation.

• Plan and perform the Group audit to obtain suficient apropriate

audit evidence regarding the financial information of the entities or

busines units within the Group as a basis for forming an opinion on

the Group financial statements. We are responsible for the direction,

supervision and review of the audit work performed for purposes of

the Group audit. We remain solely responsible for our audit opinion.

We comunicate with the Audit Comite regarding, among other

maters, the planed scope and timing of the audit and significant audit

findings, including any significant deficiencies in internal control that we

identify during our audit.

We also provide the Audit Comite with a statement that we have

complied with relevant ethical requirements regarding independence

and comunicate with them al relationships and other maters that

may reasonably be thought to bear on our independence and, where

aplicable, actions taken to eliminate threats or safeguards aplied.

Tam Jai International Co. Limited Anual Report 2024/25

Independent audItor’s report

独立核数师报告

从与审计委员会沟通的事项中，我们确定哪些事

项对本期综合财务报表的审计最为重要，因而构

成关键审计事项。我们在核数师报告中描述这些

事项，除非法律法规不允许公开披露这些事项，

或在极端罕见的情况下，如果合理预期在我们报

告中沟通某事项造成的负面后果超过产生的公众

利益，我们决定不应在报告中沟通该事项。

出具本独立核数师报告的审计项目合伙人是叶嘉

明（执业证书号码：P05015）。

毕马威会计师事务所

执业会计师

香港中环

遮打道十号

太子大厦八楼

二零二五年五月九日

From the maters comunicated with the Audit Comite, we

determine those maters that were of most significance in the audit of the

consolidated financial statements of the curent period and are therefore

the key audit maters. We describe these maters in our auditor’s report

unles law or regulation precludes public disclosure about the mater or

when, in extremely rare circumstances, we determine that a mater should

not be comunicated in our report because the adverse consequences

of doing so would reasonably be expected to outweigh the public interest

benefits of such comunication.

The engagement partner on the audit resulting in this independent

auditor’s report is Yip Ka Ming, Alice (practising certificate number:

P05015).

KPMG

Certified Public Acountants

8th Flor, Prince’s Building

10 Chater Road

Central, Hong Kong

9 May 2025

2025
二零二五年
$’000
千元
Revenue收益32,842,6812,748,406
Cost of food and beverages consumed所使用食品及饮料成本(672,909)(648,136)
Other net income其他收入净额444,85850,539
Staff costs员工成本5(a)(921,907)(889,506)
Depreciation of property, plant and equipment物业、机器及设备折旧(96,844)(115,415)
Depreciation of right-of-use assets, rental and related expenses使用权资产折旧、租金及 相关开支(558,578)(532,117)
Consumables and packaging耗材及包装(55,073)(61,229)
Utilities expenses水电开支(89,977)(85,315)
Handling charges手续费用(156,245)(103,359)
Advertising and promotion广告及宣传(57,170)(61,164)
Cleaning expenses清洁开支(27,340)(25,036)
Repairs and maintenance维修及保养(21,633)(21,251)
Other expenses其他开支(105,858)(81,689)
Profit from operation营业溢利5124,005174,728
Finance costs融资成本5(b)(23,444)(22,736)
Share of loss of a joint venture分占一间合营公司亏损23(390)—
Profit before taxation除税前溢利100,171151,992
Income tax expense所得税开支6(20,328)(33,343)
Profit for the year年度溢利79,843118,649
Earnings per share (cents)每股盈利（仙）9
— Basic— 基本6.08.9
— Diluted— 摊薄5.98.8

Consolidated statement of profit or los

综合损益表

for the year ended 31 March 2025 (Expresed in Hong Kong dolars) 截至二零二五年三月三十一日止年度（以港元列示）

谭仔国际有限公司 2024/25 年报

The notes on pages 104 to 182 form part of these financial statements.

Details of dividends payable to equity shareholders of the Company are

set out in note 24(b).

第104至182页的附注构成该等财务报表的一部

分。应付本公司权益股东股息的详情载于附注

24(b)。

2025
二零二五年
$’000
千元
Profit for the year年度溢利79,843118,649
Other comprehensive income for the year年度其他全面收益
Item that may be reclassified subsequently to profit or loss:其后可能重新分类为损益的项目：
— Exchange differences on translation of financial statements of subsidiaries outside Hong Kong (with Nil tax effect)— 换算香港境外附属公司财务报 表产生的汇兑差额（无税务影 响）(1,480)(2,904)
Item that will not be reclassified to profit or loss:不会重新分类为损益的项目：
— Remeasurement of provision for long service payments— 重新计量长期服务金拨备7424,347
Total comprehensive income attributable to equity shareholders of the Company for the year年度本公司权益股东应占全面收益 总额79,105120,092

Consolidated statement of profit or los

and other Comprehensive inCome

综合损益及其他全面收益表

for the year ended 31 March 2025 (Expresed in Hong Kong dolars) 截至二零二五年三月三十一日止年度（以港元列示）

Tam Jai International Co. Limited Anual Report 2024/25

The notes on pages 104 to 182 form part of these financial statements.第104至182页的附注构成该等财务报表的一

部分。

2025
二零二五年
$’000
千元
Non-current assets非流动资产
Property, plant and equipment物业、机器及设备10174,912188,167
Right-of-use assets使用权资产10786,274778,855
Intangible asset无形资产114,667—
Goodwill商誉12274—
Deposits and prepayments按金及预付款项14104,983114,823
Interest in a joint venture于一间合营公司的权益234,3684,988
Deferred tax assets递延税项资产18(b)40,48029,458
1,115,9581,116,291
Current assets流动资产
Inventories存货1321,17024,862
Trade and other receivables贸易及其他应收款项1449,86546,341
Deposits and prepayments按金及预付款项14102,38578,399
Current tax recoverable可收回即期税项18(a)10,3225,508
Cash and bank balances现金及银行结余15(a)1,327,7111,351,523
1,511,4531,506,633
Current liabilities流动负债
Trade and other payables and accruals贸易及其他应付款项及 应计费用16249,052231,644
Deposits received已收按金16200200
Lease liabilities租赁负债17374,753377,829
Current tax payable应付即期税项18(a)2,3456,847
Provisions拨备1927,47829,758
653,828646,278
Net current assets流动资产净值857,625860,355
Total assets less current liabilities总资产减流动负债1,973,5831,976,646

Consolidated statement of finanCial position

综合财务状况表

at 31 March 2025 (Expresed in Hong Kong dolars) 于二零二五年三月三十一日（以港元列示）

谭仔国际有限公司 2024/25 年报

2025
二零二五年
$’000
千元
Non-current liabilities非流动负债
Lease liabilities租赁负债17429,805425,622
Provisions拨备1952,26947,782
Long service payment obligation长期服务金责任2016,29014,591
Deferred tax liabilities递延税项负债18(b)5,0843,150
503,448491,145
Net assets资产净值1,470,1351,485,501
Capital and reserves资本及储备24
Share capital股本1,116,7831,116,714
Reserves储备353,352368,787
Total equity attributable to equity shareholders of the Company本公司权益股东应占 总权益1,470,1351,485,501

Tam Jai International Co. Limited Anual Report 2024/25

Consolidated statement of finanCial position

综合财务状况表

at 31 March 2025 (Expresed in Hong Kong dolars) 于二零二五年三月三十一日（以港元列示）

由董事会于二零二五年五月九日批准及授权

刊发。

刘达民

董事

陈萍

Aproved and authorised for isue by the board of directors on 9 May

2025.

Lau Tat Man

Directors

Chan Ping, Rita

The notes on pages 104 to 182 form part of these financial statements.第104至182页的附注构成该等财务报表的一

部分。

Balance at 1 April 2023于二零二三年 四月一日的结余1,116,189—*7,10334,921(6,193)(5,149)394,9771,541,848
Changes in equity for 2024:二零二四年的权益 变动：
Profit for the year年度溢利——————118,649118,649
Exchange differences on translation of financial statements of subsidiaries outside Hong Kong换算香港境外附属 公司财务报表产 生的汇兑差额—————(2,904)—(2,904)
Remeasurement of provision for long service payments重新计量长期服务 金拨备——————4,3474,347
Total comprehensive income全面收益总额—————(2,904)122,996120,092
Issue of shares under share option scheme根据购股权计划发 行股份25525——————525
Dividends approved and paid in respect of the previous year上一年度批准及支 付的股息24(b)——————(140,584)(140,584)
Dividends declared and paid in respect of the current year本年度宣派及支付 的股息24(b)——————(40,228)(40,228)
Equity settled share-based transactions以权益结算的以股 份为基础的交易25——(1,993)———5,8413,848
Balance at 31 March 2024于二零二四年 三月三十一日的 结余1,116,714—*5,11034,921(6,193)(8,053)343,0021,485,501

Consolidated statement of Changes in equity

综合权益变动表

for the year ended 31 March 2025 (Expresed in Hong Kong dolars) 截至二零二五年三月三十一日止年度（以港元列示）

谭仔国际有限公司 2024/25 年报

Share

capital

Shares held

for share

award

scheme

Share-based

compensation

reserve

Other

reserve

Merger

reserve

Exchange

reserve

Retained

profitsTotal

股本

就股份

奖励计划

持有的股份

以股份

为基础之

薪酬储备其他储备合并储备汇兑储备保留溢利总额

(note 24(c)(note 25)(note 24(h)(note 24(e)(note 24(f)(note 24(g)

（附注24(c)）（附注25）（附注24(h)）（附注24(e)）（附注24(f)）（附注24(g)）

Notes$’000$’000$’000$’000$’000$’000$’000$’000

附注千元千元千元千元千元千元千元千元

Share capitalShares held for share award schemeShare-based compensation reserveOther reserveMerger reserveExchange reserveRetained profitsTotal
股本就股份 奖励计划 持有的股份以股份 为基础之 薪酬储备其他储备合并储备汇兑储备保留溢利总额
(note 24(c))(note 25)(note 24(h))(note 24(e))(note 24(f))(note 24(g))
（附注24(c)） （附注25）（附注24(h)）（附注24(e)）（附注24(f)）（附注24(g)）
$’000$’000$’000$’000$’000$’000$’000$’000
千元千元千元千元千元千元千元千元
Balance at 1 April 2024于二零二四年 四月一日的结余1,116,714—*5,11034,921(6,193)(8,053)343,0021,485,501
Changes in equity for 2025:二零二五年的权益 变动：
Profit for the year年度溢利——————79,84379,843
Exchange differences on translation of financial statements of subsidiaries outside Hong Kong换算香港境外附属 公司财务报表产 生的汇兑差额—————(1,480)—(1,480)
Remeasurement of provision for long service payments重新计量长期服务 金拨备——————742742
Total comprehensive income全面收益总额—————(1,480)80,58579,105
Issue of shares under share option scheme根据购股权计划发 行股份2569——————69
Dividends approved and paid in respect of the previous year上一年度批准及支 付的股息24(b)——————(79,121)(79,121)
Dividends declared and paid in respect of the current year本年度宣派及支付 的股息24(b)——————(18,113)(18,113)
Equity settled share-based transactions以权益结算的以 股份为基础的 交易25——500———2,1942,694
Balance at 31 March 2025于二零二五年 三月三十一日的 结余1,116,783—*5,61034,921(6,193)(9,533)328,5471,470,135

Tam Jai International Co. Limited Anual Report 2024/25

Consolidated statement of Changes in equity

综合权益变动表

for the year ended 31 March 2025 (Expresed in Hong Kong dolars) 截至二零二五年三月三十一日止年度（以港元列示）

  • ,000元。* The amount is les than $1,000.

The notes on pages 104 to 182 form part of these financial statements.第104至182页的附注构成该等财务报表的一

部分。

2025
二零二五年
$’000
千元
Operating activities经营活动
Cash generated from operations营运所得现金15(b)636,380652,148
Hong Kong Profits Tax paid已付香港利得税(39,659)(28,543)
Net cash generated from operating activities经营活动所得现金净额596,721623,605
Investing activities投资活动
Interest received已收利息43,17544,085
Payment for the purchase of property, plant and equipment购买物业、机器及设备的 付款(97,825)(66,360)
Proceeds from disposal of property, plant and equipment出售物业、机器及设备的 所得款项346—
Shareholder’s loan to a joint venture对一间合营公司的股东 贷款(3,805)—
Acquisition of subsidiaries, net of cash received收购附属公司（扣除所 收现金）15(e)2,902—
Net cash used in investing activities投资活动所用现金净额(55,207)(22,275)
Financing activities融资活动
Capital element of lease rentals paid已付租赁租金的资本部分15(c)(444,717)(422,434)
Interest element of lease rentals paid已付租赁租金的利息部分15(c)(23,444)(22,736)
Dividends paid to equity shareholders of the Company已付本公司权益股东股息24(b)(97,234)(180,812)
Proceeds from issue of shares under share option scheme根据购股权计划发行股份 所得款项24(c)69525
Net cash used in financing activities融资活动所用现金净额(565,326)(625,457)
Net decrease in cash and cash equivalents现金及现金等价物减少 净额(23,812)(24,127)
Cash and cash equivalents at the beginning of the year于年初的现金及现金等 价物1,351,5231,375,650
Cash and cash equivalents at the end of the year于年末的现金及现金等 价物15(a)1,327,7111,351,523

Consolidated Cash flow statement

综合现金流量表

for the year ended 31 March 2025 (Expresed in Hong Kong dolars) 截至二零二五年三月三十一日止年度（以港元列示）

谭仔国际有限公司 2024/25 年报

The notes on pages 104 to 182 form part of these financial statements.第104至182页的附注构成该等财务报表的一

部分。

Notes to the fiNaNcial statemeNts

财务报表附注

(Expresed in Hong Kong dolars unles otherwise indicated) （除非另外指明，否则以港元列示）

Tam Jai International Co. Limited Anual Report 2024/25

1 重大会计政策

(a) 合规声明

此等财务报表乃根据所有适用的香港

财务报告准则会计准则编制，此统称

包括香港会计师公会（「香港会计师公

会」）颁布的所有适用的个别香港财务

报告准则（「香港财务报告准则」）、香

港会计准则（「香港会计准则」）及诠释

以及香港《公司条例》之规定。此等财

务报表亦符合香港联合交易所有限公

司证券上市规则的适用披露条文。本

集团采纳之重大会计政策披露如下。

香港会计师公会已颁布若干于本集团

当期会计期间首次生效或可提早采纳

之香港财务报告准则会计准则修订。

附注1(c)提供有关初步应用该等修订

所引致的会计政策变动的资料，惟以

该等变动与本集团在该等财务报表所

反映的当期会计期间有关者为限。

(b) 财务报表的编制基准

截至二零二五年三月三十一日止年度

之综合财务报表包括本公司及其附属

公司（统称为「本集团」）及本集团于一

间合营公司的权益。编制财务报表时

使用的计量基准为历史成本基准。

编制符合香港财务报告准则会计准

则的财务报表需要管理层作出判断、

估计及假设，该等判断、估计及假设

会影响政策应用以及所呈报资产、负

债、收入及开支金额。该等估计及有

关假设按过往经验及被视为在有关情

况下属合理的多项其他因素作出，其

结果构成无法依循其他来源得知资产

及负债账面值时作出判断的基准。实

际结果或会有别于该等估计。

1 MATERIAL ACOUNTING POLICIES

(a) Statement of compliance

These financial statements have ben prepared in acordance

with al aplicable HKFRS Acounting Standards, which

colective term includes al aplicable individual Hong Kong

Financial Reporting Standards (“HKFRS”), Hong Kong

Acounting Standards (“HKASs”) and Interpretations isued

by the Hong Kong Institute of Certified Public Acountants

(“HKICPA”) and the requirements of the Hong Kong

Companies Ordinance. These financial statements also

comply with the aplicable disclosure provisions of the Rules

Governing the Listing of Securities on The Stock Exchange of

Hong Kong Limited. Material acounting policies adopted by

the Group are disclosed below.

The HKICPA has isued certain amendments to HKFRS

Acounting Standards that are first efective or available for

early adoption for the curent acounting period of the Group.

Note 1(c) provides information on any changes in acounting

policies resulting from initial aplication of these developments

to the extent that they are relevant to the Group for the curent

acounting period reflected in these financial statements.

(b) Basis of preparation of the financial statements

The consolidated financial statements for the year ended 31

March 2025 comprise the Company and its subsidiaries (together

refered to as the “Group”) and the Group’s interest in a joint

venture. The measurement basis used in the preparation of

the financial statements is the historical cost basis.

The preparation of financial statements in conformity with

HKFRS Acounting Standards requires management

to make judgements, estimates and asumptions that

afect the aplication of policies and reported amounts of

asets, liabilities, income and expenses. The estimates and

asociated asumptions are based on historical experience

and various other factors that are believed to be reasonable

under the circumstances, the results of which form the basis

of making the judgements about carying values of asets

and liabilities that are not readily aparent from other sources.

Actual results may difer from these estimates.

谭仔国际有限公司 2024/25 年报

Notes to the fiNaNcial statemeNts

财务报表附注

(Expresed in Hong Kong dolars unles otherwise indicated) （除非另外指明，否则以港元列示）

1 重大会计政策（续）

(b) 财务报表的编制基准（续）

该等估计及相关假设会作持续基准

审阅。倘修订会计估计只会影响修订

估计的期间，则于该期间确认有关修

订；倘修订会影响本期间及未来期

间，则于修订期间及未来期间确认有

关修订。

管理层应用香港财务报告准则会计准

则时所作出对财务报表有重大影响的

判断以及估计不确定因素的主要来源

于附注2论述。

(c) 会计政策变动

(i) 新订及经修订香港财务报告

准则会计准则

本集团已于本会计期间，对该

等财务报表应用由香港会计师

公会颁布的下列香港财务报告

准则会计准则及香港会计准则

的修订本：

— 香港会计准则第1号（修订

本），财务报表的呈报：负

债分类为流动或非流动及

香港会计准则第1号（修订

本），财务报表的呈报：附

带契约的非流动负债

— 香港财务报告准则第16号

（修订本），租赁：于售后

租回中的租赁负债

— 香港会计准则第7号（修订

本），现金流量表及香港财

务报告准则第7号，金融

工具：披露：供应商融资

安排

该等修订本并无对本集团于本

期间或过往期间编制或呈列业

绩及财务状况的方式造成重大

影响。本集团并无应用任何于

本会计期间尚未生效的新订准

则或诠释。

1 MATERIAL ACOUNTING POLICIES (Continued)

(b) Basis of preparation of the financial statements

(Continued)

The estimates and underlying asumptions are reviewed on

an ongoing basis. Revisions to acounting estimates are

recognised in the period in which the estimate is revised if the

revision afects only that period, or in the period of the revision

and future periods if the revision afects both curent and

future periods.

Judgements made by management in the aplication of

HKFRS Acounting Standards that have significant efect

on the financial statements and major sources of estimation

uncertainty are discused in note 2.

(c) Changes in acounting policies

(i) New and amended HKFRS Acounting Standards

The Group has aplied the folowing amendments to

HKFRS Acounting Standards and HKASs isued by

the HKICPA to these financial statements for the curent

acounting period:

— Amendments to HKAS 1, Presentation of financial

statements — Clasification of liabilities as curent

or non-curent and amendments to HKAS 1,

Presentation of financial statements — Non-

curent liabilities with covenants

— Amendments to HKFRS 16, Leases — Lease

liability in a sale and leaseback

— Amendments to HKAS 7, Statement of cash

flows and HKFRS 7, Financial instruments:

Disclosures — Suplier finance arangements

None of these amendments have had a material efect

on how the Group’s results and financial position

for the curent or prior periods have ben prepared

or presented. The Group has not aplied any new

standard or interpretation that is not yet efective for the

curent acounting period.

Tam Jai International Co. Limited Anual Report 2024/25

Notes to the fiNaNcial statemeNts

财务报表附注

(Expresed in Hong Kong dolars unles otherwise indicated) （除非另外指明，否则以港元列示）

1 重大会计政策（续）

(d) 附属公司

附属公司指本集团控制的实体。倘本

集团因参与实体的营运而就可变回报

承受风险或享有权利，并有能力透过

其对实体的权力影响该等回报，则本

集团对该实体拥有控制权。当评估本

集团是否拥有权力时，仅考虑由本集

团及其他人士持有的实质权利。

自控制权开始之日至控制权停止之

日，于附属公司的投资综合计入综合

财务报表。集团内公司间的结余、交

易以及集团内公司间交易所产生的现

金流量及任何未变现溢利，在编制综

合财务报表时悉数对销。集团内公司

间交易所产生的未变现亏损则仅在并

无减值证据的情况下，以相同的方式

与未变现收益对销。

倘本集团于附属公司的权益变动不会

导致丧失控制权，则作为股权交易入

账，据此会对综合权益内的控股及非

控股权益金额作出调整，以反映相对

权益变动，惟不会对商誉作出调整，

亦不会确认收益或亏损。

当本集团丧失对附属公司的控制权，

将作为出售于该附属公司的全部权益

入账，而所产生的收益或亏损于损益

中确认。任何在丧失控制权当日仍保

留的于该前附属公司权益按公允价值

确认，而此金额被视为初步确认金融

资产的公允价值。

在本公司的财务状况表中，于附属公

司的投资是按成本减去减值亏损后列

账（见附注1(j)(i)）。本公司直接持有的

受控制结构实体视为本公司的分支╱

代理及其资产及负债于本公司的财务

状况表入账为本公司的资产及负债。

1 MATERIAL ACOUNTING POLICIES (Continued)

(d) Subsidiaries

Subsidiaries are entities controled by the Group. The Group

controls an entity when it is exposed, or has rights, to variable

returns from its involvement with the entity and has the ability

to afect those returns through its power over the entity. When

asesing whether the Group has power, only substantive

rights (held by the Group and other parties) are considered.

An investment in a subsidiary is consolidated into the

consolidated financial statements from the date that control

comences until the date that control ceases. Intra-group

balances, transactions and cash flows and any unrealised

profits arising from intra-group transactions are eliminated

in ful in preparing the consolidated financial statements.

Unrealised loses resulting from intra-group transactions are

eliminated in the same way as unrealised gains but only to the

extent that there is no evidence of impairment.

Changes in the Group’s interests in a subsidiary that do

not result in a los of control are acounted for as equity

transactions, whereby adjustments are made to the amounts

of controling and non-controling interests within consolidated

equity to reflect the change in relative interests, but no

adjustments are made to godwil and no gain or los is

recognised.

When the Group loses control of a subsidiary, it is acounted

for as a disposal of the entire interest in that subsidiary, with

a resulting gain or los being recognised in profit or los. Any

interest retained in that former subsidiary at the date when

control is lost is recognised at fair value and this amount is

regarded as the fair value on initial recognition of a financial

aset.

In the Company’s statement of financial position, an

investment in a subsidiary is stated at cost les impairment

loses (se note 1(j)(i). A controled structured entity that is

directly held by the Company is considered as branch/agent

of the Company and the asets and liabilities thereof are

acounted for as asets and liabilities of the Company in the

Company’s statement of financial position.

谭仔国际有限公司 2024/25 年报

Notes to the fiNaNcial statemeNts

财务报表附注

(Expresed in Hong Kong dolars unles otherwise indicated) （除非另外指明，否则以港元列示）

1 重大会计政策（续）

(e) 合营公司

合营公司指本集团拥有共同控制权的

安排，且本集团对该安排的净资产享

有权利，而非对其资产享有权利及对

其负债承担义务。

于一间合营公司的权益采用权益法入

账，初步按成本确认，当中包括交易

成本。其后，合并财务报表计入本集

团应占投资对象的损益及其他全面收

益，直至重大影响力或共同控制权终

止之日为止。

当本集团应占亏损超出其于一间合

营公司的权益，本集团的权益将减至

零，且不再进一步确认亏损，除非本

集团已代表投资对象承担法律或推定

义务或支付款项则作别论。为此，本

集团的权益相当于权益法项下投资的

账面值，另加实质上构成本集团对合

营公司净投资一部分的任何其他长期

权益，并将预期信贷亏损模型应用于

该等其他长期权益（如适用）（见附注

1(j)(i)）。

与权益法入账投资对象进行交易所产

生的未变现收益与投资相抵销，并以

本集团于投资对象的权益为限。未变

现亏损的抵销方式与未变现收益相

同，惟仅限于无减值证据的情况。

于本公司财务状况表内，于合营公司

的投资按成本减值亏损（见附注1(j)

(i)）列账。

(f) 商誉

因收购业务而产生的商誉按成本减累

计减值亏损后计量，并于每年进行减

值测试（见附注1(j)(i)）。

(g) 物业、机器及设备

物业、机器及设备项目按成本减去

累计折旧及减值亏损列账（见附注1(j)

(i)）。

1 MATERIAL ACOUNTING POLICIES (Continued)

(e) Joint venture

A joint venture is an arangement in which the Group has

joint control, whereby the Group has the rights to the net

asets of the arangement, rather than rights to its asets and

obligations for its liabilities.

An interest in a joint venture is acounted for using the equity

method. They are initialy recognised at cost, which includes

transaction costs. Subsequently, the consolidated financial

statements include the Group’s share of the profit or los and

other comprehensive income of those investes, until the date

on which significant influence or joint control ceases.

When the Group’s share of loses exceds its interest in

the joint venture, the Group’s interest is reduced to Nil and

recognition of further loses is discontinued except to the

extent that the Group has incured legal or constructive

obligations or made payments on behalf of the investe. For

this purpose, the Group’s interest is the carying amount of

the investment under the equity method, together with any

other long-term interests that in substance form part of the

Group’s net investment in the joint venture, after aplying the

expected credit los (“ECL”) model to such other long-term

interests where aplicable (se note 1(j)(i).

Unrealised gains arising from transactions with equity-

acounted investes are eliminated against the investment to

the extent of the Group’s interest in the investe. Unrealised

loses are eliminated in the same way as unrealised gains, but

only to the extent there is no evidence of impairment.

In the Company’s statement of financial position, an

investment in a joint venture is stated at cost les impairment

loses (se note 1(j)(i).

(f) Godwil

Godwil arising on acquisition of busineses is measured

at cost les acumulated impairment loses and is tested

anualy for impairment (se note 1(j)(i).

(g) Property, plant and equipment

Items of property, plant and equipment are stated at cost les

acumulated depreciation and impairment loses (se note 1(j)(i).

Tam Jai International Co. Limited Anual Report 2024/25

Notes to the fiNaNcial statemeNts

财务报表附注

(Expresed in Hong Kong dolars unles otherwise indicated) （除非另外指明，否则以港元列示）

1 重大会计政策（续）

(g) 物业、机器及设备（续）

物业、机器及设备项目按下列比率于

其估计可使用年期内，撇销成本减

估计剩余价值（如有），以直线法计算

折旧：

— 租赁物业装修租约的剩余

年期

— 家私及固定装置20%

— 机器及设备20%

— 电脑设备20%

— 汽车25%

资产的可使用年期及剩余价值（如有）

均每年审阅。

报废或出售物业、机器及设备项目所

产生的收益或亏损为出售所得款项净

额与项目账面值之间的差额，并于报

废或出售日期在损益中确认。

(h) 无形资产

本集团所收购的无形资产（特许经营

费）具有限定使用年期，按成本减累

计摊销及任何累计减值亏损后计量

（见附注1(j)(i)）。

摊销是于无形资产的估计可使用年限

（如有）内，以直线法撇销其成本减估

计剩余价值（如适用），并通常在损益

内确认。

本期及对比期间的估计使用年期

如下：

— 特许经营费8年

摊销方法、使用年期及剩余价值每年

审阅，并在适当时作出调整。

1 MATERIAL ACOUNTING POLICIES (Continued)

(g) Property, plant and equipment (Continued)

Depreciation is calculated to write of the cost of items of

property, plant and equipment, les their estimated residual

value, if any, using the straight line method over their

estimated useful lives as folows:

— Leasehold improvementsRemaining term of

the tenancy lease

— Furniture and fixtures20%

— Machinery and equipment20%

— Computer equipment20%

— Motor vehicles25%

Both the useful life of an aset and its residual value, if any,

are reviewed anualy.

Gains or loses arising from the retirement or disposal of an

item of property, plant and equipment are determined as the

diference betwen the net disposal proceds and the carying

amount of the item and are recognised in profit or los on the

date of retirement or disposal.

(h) Intangible aset

Intangible aset, franchise fe, that are acquired by the

Group and have finite useful lives are measured at cost les

acumulated amortisation and any acumulated impairment

loses (se note 1(j)(i).

Amortisation is calculated to write of the cost of intangible

asets les their estimated residual values, if aplicable, using

the straight-line method over their estimated useful lives, if

any, and is generaly recognised in profit or los.

The estimated useful lives for the curent and comparative

periods are as folows:

— Franchise fe 8 years

Amortisation methods, useful lives and residual values are

reviewed anualy and adjusted if apropriate.

谭仔国际有限公司 2024/25 年报

Notes to the fiNaNcial statemeNts

财务报表附注

(Expresed in Hong Kong dolars unles otherwise indicated) （除非另外指明，否则以港元列示）

1 重大会计政策（续）

(i) 租赁资产

本集团在合约开始时评估该合约是否

属于或包含租赁。倘合约于一段时间

内将控制某项已识别资产使用权以

换取代价，则该合约为属于或包含租

赁。当客户有权直接指示已识别资产

的用途及取得来自该用途的绝大部分

经济利益时，即已转移控制。为评估

合约是否包含控制使用已识别资产的

权利，本集团会评估该合约是否符合

以下条件：

— 合约涉及使用已识别资产 —

已识别资产可为明确或隐含指

定，且应为有形或代表有形资

产的绝大部分能力。倘供应商

拥有实质性的替代权，则该资

产不予识别；

— 本集团有权于使用期间获取使

用该资产的绝大部分经济利

益；及

— 本集团有权主导资产的用途。

当本集团拥有与改变资产使用

方式及使用目的之至为相关的

决策权时，本集团即拥有主导

资产用途的权利。在罕见情况

下，倘有关资产使用方式及使

用目的之决策为预先厘定，则

本集团在以下任一前提下拥有

主导资产用途的权利：

— 本集团有权营运资产；或

— 本集团对资产的设计预先

厘定了其使用方式及使用

目的。

1 MATERIAL ACOUNTING POLICIES (Continued)

(i) Leased asets

At inception of a contract, the Group aseses whether the

contract is, or contains, a lease. A contract is, or contains,

a lease if the contract conveys the right to control the use

of an identified aset for a period of time in exchange for

consideration. Control is conveyed where the customer has

both the right to direct the use of the identified aset and to

obtain substantialy al of the economic benefits from that use.

To ases whether a contract conveys the right to control the

use of an identified aset, the Group aseses whether:

— the contract involves the use of an identified aset —

this may be specified explicitly or implicitly, and should

be physicaly distinct or represent substantialy al of the

capacity of a physicaly distinct aset. If the suplier has

a substantive substitution right, then the aset is not

identified;

— the Group has the right to obtain substantialy al of the

economic benefits from use of the aset throughout the

period of use; and

— the Group has the right to direct the use of the aset.

The Group has this right when it has the decision-

making rights that are most relevant to changing how

and for what purpose the aset is used. In rare cases

where the decision about how and for what purpose

the aset is used is predetermined, the Group has the

right to direct the use of the aset if either:

— the Group has the right to operate the aset; or

— the Group designed the aset in a way that

predetermines how and for what purpose it wil

be used.

Tam Jai International Co. Limited Anual Report 2024/25

Notes to the fiNaNcial statemeNts

财务报表附注

(Expresed in Hong Kong dolars unles otherwise indicated) （除非另外指明，否则以港元列示）

1 重大会计政策（续）

(i) 租赁资产（续）

于包含租赁及非租赁组成部分的合约

开始或对其重新评估之时，本集团根

据相关独立价格，将合约的代价分配

至各租赁组成部分。然而，对于本集

团为承租人的土地及楼宇租赁，本集

团选择区分非租赁组成部分，以及将

租赁及非租赁组成部分独立列账。

于租赁开始日期，本集团确认使用权

资产及租赁负债，惟租期为12个月或

以内的短期租赁及低价值资产除外。

当本集团就低价值资产订立租赁，本

集团视乎个别租赁决定是否将租赁资

本化。与该等不予资本化的租赁相关

的租赁付款于租期内按有系统基准确

认为开支。

资本化租赁时，租赁负债初始乃以租

期内须支付之租赁付款之现值确认，

使用租赁的隐含利率或（如无法确定

该利率）使用相关增量借款利率折现

得出。一般而言，本集团使用增量借

款利率作为折现率。

计入租赁负债计量之租赁付款包括以

下各项：

— 固定付款，包括实质固定付款；

— 取决于指数或利率之可变租赁

付款，初步使用于开始日期之

指数或利率计量；

— 根据剩余价值担保预期应付之

金额；及

1 MATERIAL ACOUNTING POLICIES (Continued)

(i) Leased asets (Continued)

At inception or on reasesment of a contract that contains

lease and non-lease components, the Group alocates the

consideration in the contract to each lease component on

the basis of their relative stand-alone prices. However, for the

leases of land and buildings in which it is a lese, the Group

has elected to separate non-lease components and acounts

for the lease and non-lease components separately.

At the lease comencement date, the Group recognises

a right-of-use aset and a lease liability, except for short-

term leases that have a lease term of 12 months or les and

leases of low-value asets. When the Group enters into a

lease in respect of a low-value aset, the Group decides

whether to capitalise the lease on a lease-by-lease basis. The

lease payments asociated with those leases which are not

capitalised are recognised as an expense on a systematic

basis over the lease term.

Where the lease is capitalised, the lease liability is initialy

recognised at the present value of the lease payments payable

over the lease term, discounted using the interest rate implicit

in the lease or, if that rate canot be readily determined, using

a relevant incremental borowing rate. Generaly, the Group

uses its incremental borowing rate as the discount rate.

Lease payments included in the measurement of the lease

liability comprise the folowing:

— fixed payments, including in-substance fixed payments;

— variable lease payments that depend on an index or a

rate, initialy measured using the index or the rate as at

the comencement date;

— amounts expected to be payable under a residual value

guarante; and

谭仔国际有限公司 2024/25 年报

Notes to the fiNaNcial statemeNts

财务报表附注

(Expresed in Hong Kong dolars unles otherwise indicated) （除非另外指明，否则以港元列示）

1 重大会计政策（续）

(i) 租赁资产（续）

— 本集团合理肯定将行使之购买

选择权项下之行使价，倘本集

团合理肯定将行使延长选择

权，则为选择续租期间之租赁

付款，以及提前终止租赁之罚

款，除非本集团合理肯定将不

会提前终止。

初始确认后，租赁负债按摊销成本计

量及利息开支采用实际利息法计算。

不取决于一项指数或比率的可变租赁

付款不包括在租赁负债的计量内，因

此于发生的会计期间扣自损益。

资本化租赁时确认的使用权资产初步

按成本计量，包括租赁负债的初始金

额，按开始日期或之前支付的任何租

赁款项、产生的任何初始直接成本及

拆除及移走相关资产或将相关资产或

其所在地点复原的估计成本（贴现至

其现值）扣除任何已收租赁优惠作出

调整。使用权资产随后采用直线法从

开始日期至使用权资产使用年期结束

或租赁期结束（以较早者为准）进行折

旧。厘定使用权资产的估计使用年期

的基准与物业、机器及设备的相同。

此外，使用权资产定期按减值亏损

（如有）（见附注1(j)(i)），以及租赁负债

的若干重新计量调整。

可退回租赁按金的初始公允价值与使

用权资产分开入账及按金的初始公允

价值与面值的任何差异入账为已付额

外租赁付款及计入使用权资产成本。

1 MATERIAL ACOUNTING POLICIES (Continued)

(i) Leased asets (Continued)

— the exercise price under a purchase option that the

Group is reasonably certain to exercise, lease payments

in an optional renewal period if the Group is reasonably

certain to exercise an extension option, and penalties

for early termination of a lease unles the Group is

reasonably certain not to terminate early.

After initial recognition, the lease liability is measured at

amortised cost and interest expense is calculated using

the efective interest method. Variable lease payments that

do not depend on an index or rate are not included in the

measurement of the lease liability and hence are charged

to profit or los in the acounting period in which they are

incured.

The right-of-use aset recognised when a lease is capitalised

is initialy measured at cost, which comprises the initial amount

of the lease liability adjusted for any lease payments made

at or before the comencement date, any initial direct costs

incured and an estimate of costs to dismantle and remove

the underlying aset or to restore the underlying aset or the

site on which it is located, discounted to their present value,

les any lease incentives received. The right-of-use aset is

subsequently depreciated using the straight line method from

the comencement date to the earlier of the end of the useful

life of the right-of-use aset or the end of the lease term. The

estimated useful lives of right-of-use asets are determined

on the same basis as those of property, plant and equipment.

In adition, the right-of-use aset is periodicaly adjusted

by impairment loses (se note 1(j)(i), if any, and certain

remeasurements of the lease liability.

The initial fair value of refundable rental deposits is acounted

for separately from the right-of-use asets and any diference

betwen the initial fair value and the nominal value of the

deposits is acounted for as aditional lease payments made

and is included in the cost of right-of-use asets.

Tam Jai International Co. Limited Anual Report 2024/25

Notes to the fiNaNcial statemeNts

财务报表附注

(Expresed in Hong Kong dolars unles otherwise indicated) （除非另外指明，否则以港元列示）

1 重大会计政策（续）

(i) 租赁资产（续）

租赁负债在下列情况下重新计量：因

指数或利率变动而导致未来租赁付

款出现变动；或本集团对根据剩余价

值担保预期应付的金额的估计出现

变动；或因为重新评估本集团是否将

合理确认会行使购买、延期或终止选

择权而出现变动。当租赁负债以这种

方式重新计量时，本集团对使用权资

产的账面值进行相应的调整，或倘使

用权资产的账面值已降为零，则计入

损益。

当发生租赁修改，即当租赁范围发生

变化，或租赁合约中原先没有规定的

租赁代价发生变化，且未作为单独租

赁入账时，亦会重新计量租赁负债。

在此情况下，租赁负债乃根据经修订

的租赁付款及租赁期，使用经修订的

折现率于修订生效日重新计量。

于综合及公司层面财务状况表，长期

租赁负债的即期部分厘定为报告期后

十二个月内到期结付的合约付款的本

金部分。

1 MATERIAL ACOUNTING POLICIES (Continued)

(i) Leased asets (Continued)

The lease liability is remeasured when there is a change in

future lease payments arising from a change in an index

or a rate, or if there is a change in the Group’s estimate

of the amount expected to be payable under a residual

value guarante, or if there is a change arising from the

reasesment of whether the Group wil be reasonably certain

to exercise a purchase, extension or termination option. When

the lease liability is remeasured in this way, a coresponding

adjustment is made to the carying amount of the right-of-use

aset, or is recorded in profit or los if the carying amount of

the right-of-use aset has ben reduced to zero.

The lease liability is also remeasured when there is a lease

modification, which means a change in the scope of a lease

or the consideration for a lease that is not originaly provided

for in the lease contract, if such modification is not acounted

for as a separate lease. In this case, the lease liability is

remeasured based on the revised lease payments and lease

term using a revised discount rate at the efective date of the

modification.

In the consolidated and company-level statements of financial

position, the curent portion of long-term lease liabilities is

determined as the principal portion of contractual payments

that are due to be setled within twelve months after the

reporting period.

谭仔国际有限公司 2024/25 年报

Notes to the fiNaNcial statemeNts

财务报表附注

(Expresed in Hong Kong dolars unles otherwise indicated) （除非另外指明，否则以港元列示）

1 重大会计政策（续）

(j) 信贷亏损及资产减值

(i) 金融工具的信贷亏损

本集团就按摊销成本计量的金

融资产（包括现金及银行结余、

贸易及其他应收款项以及按金）

的预期信贷亏损确认亏损拨备。

计量预期信贷亏损

预期信贷亏损为信贷亏损的概

率加权估计值。信贷亏损以所

有预期现金差额的现值（即根据

合约应付本集团的现金流量与

本集团预期收取的现金流量之

间的差额）计量。

固定利率金融资产及贸易及其

他应收款项以及按金的预期现

金差额采用初步确认时厘定的

实际利率或其近似值贴现，倘

贴现的影响重大。

估计预期信贷亏损时所考虑的

最长期间为本集团面临信贷风

险的最长合约期间。

于计量预期信贷亏损时，本集

团计及毋须付出过多成本或精

力即可获得的合理及可靠资

料。该等资料包括有关过往事

件、目前状况及未来经济状况

预测的资料。

预期信贷亏损乃按下列其中一

个基准计量：

— 12个月预期信贷亏损：预

期于报告日期后12个月内

可能发生的违约事件导致

的亏损；及

— 存续期预期信贷亏损：预

期于采用预期信贷亏损模

式的项目的预计年期内可

能发生的所有违约事件导

致的亏损。

1 MATERIAL ACOUNTING POLICIES (Continued)

(j) Credit loses and impairment of asets

(i) Credit loses from financial instruments

The Group recognises a los alowance for ECLs on

financial asets measured at amortised cost (including

cash and bank balances, trade and other receivables

and deposits).

Measurement of ECLs

ECLs are a probability-weighted estimate of credit

loses. Credit loses are measured as the present

value of al expected cash shortfals (i.e. the diference

betwen the cash flows due to the Group in acordance

with the contract and the cash flows that the Group

expects to receive).

The expected cash shortfals for fixed-rate financial

asets and trade and other receivables and deposits are

discounted using the efective interest rate determined

at initial recognition or an aproximation thereof where

the efect of discounting is material.

The maximum period considered when estimating

ECLs is the maximum contractual period over which the

Group is exposed to credit risk.

In measuring ECLs, the Group takes into acount

reasonable and suportable information that is available

without undue cost or efort. This includes information

about past events, curent conditions and forecasts of

future economic conditions.

ECLs are measured on either of the folowing bases:

— 12-month ECLs: these are loses that are

expected to result from posible default events

within the 12 months after the reporting date; and

— lifetime ECLs: these are loses that are expected

to result from al posible default events over the

expected lives of the items to which the ECL

model aplies.

Tam Jai International Co. Limited Anual Report 2024/25

Notes to the fiNaNcial statemeNts

财务报表附注

(Expresed in Hong Kong dolars unles otherwise indicated) （除非另外指明，否则以港元列示）

1 重大会计政策（续）

(j) 信贷亏损及资产减值（续）

(i) 金融工具的信贷亏损（续）

计量预期信贷亏损（续）

贸易应收款项的亏损拨备一直

按相等于存续期预期信贷亏损

的金额计量。该等金融资产的

预期信贷亏损乃根据本集团的

过往信贷亏损经验估计，并按

债务人特有的因素及于报告日

期对当前及预测一般经济状况

的评估予以调整。

就所有其他金融工具而言，本

集团确认相当于12个月预期信

贷亏损的亏损拨备，除非金融

工具的信贷风险自初步确认以

来大幅增加，在该情况下，亏损

拨备按相当于存续期预期信贷

亏损的金额计量。

信贷风险大幅增加

于评估金融工具的信贷风险自

初步确认以来是否大幅增加

时，本集团会将于报告日期评

估的金融工具发生的违约风险

与于初步确认日期评估的违约

风险进行比较。进行该重新评

估时，本集团认为借款人不大

可能在本集团并无采取行动（如

变现抵押品，如持有）的情况下

向本集团悉数支付其信贷责任

时，即发生违约事件。本集团考

虑毋须付出过多成本或精力即

可获得的合理及可靠的定量及

定性资料，包括过往经验及前

瞻性资料。

1 MATERIAL ACOUNTING POLICIES (Continued)

(j) Credit loses and impairment of asets (Continued)

(i) Credit loses from financial instruments (Continued)

Measurement of ECLs (Continued)

Los alowances for trade receivables are always

measured at an amount equal to lifetime ECLs. ECLs

on these financial asets are estimated based on the

Group’s historical credit los experience, adjusted

for factors that are specific to the debtors and an

asesment of both the curent and forecast general

economic conditions at the reporting date.

For al other financial instruments, the Group recognises

a los alowance equal to 12-month ECLs unles there

has ben a significant increase in credit risk of the

financial instrument since initial recognition, in which

case the los alowance is measured at an amount

equal to lifetime ECLs.

Significant increases in credit risk

In asesing whether the credit risk of a financial

instrument has increased significantly since initial

recognition, the Group compares the risk of default

ocuring on the financial instrument asesed at

the reporting date with that asesed at the date of

initial recognition. In making this reasesment, the

Group considers that a default event ocurs when the

borower is unlikely to pay its credit obligations to the

Group in ful, without recourse by the Group to actions

such as realising security (if any is held). The Group

considers both quantitative and qualitative information

that is reasonable and suportable, including historical

experience and forward-loking information that is

available without undue cost or efort.

谭仔国际有限公司 2024/25 年报

Notes to the fiNaNcial statemeNts

财务报表附注

(Expresed in Hong Kong dolars unles otherwise indicated) （除非另外指明，否则以港元列示）

1 重大会计政策（续）

(j) 信贷亏损及资产减值（续）

(i) 金融工具的信贷亏损（续）

计量预期信贷亏损（续）

具体而言，于评估信贷风险自

初步确认以来是否大幅增加

时，本集团会考虑以下资料：

— 未能于合约到期日支付本

金或利息；

— 金融工具外部或内部信贷

评级（如有）实际或预期显

著倒退；

— 债务人经营业绩实际或预

期显著倒退；及

— 技术、市场、经济或法律

环境的现有或预计变动，

导致债务人履行对本集团

责任的能力受到重大不利

影响。

视乎金融工具的性质而定，有

关信贷风险是否大幅增加的评

估乃按个别或集体基准进行。

倘按集体基准进行评估，金融

工具根据共同信贷风险特征（例

如逾期情况及信贷风险评级）进

行分类。

预期信贷亏损于各报告日期重

新计量，以反映金融工具自初

步确认以来的信贷风险变动。

预期信贷亏损金额的任何变动

于损益中确认为减值收益或亏

损。本集团确认所有金融工具

的减值收益或亏损，并透过亏

损拨备账对其账面值作出相应

调整。

计算利息收入的基准

根据附注1(r)(i)确认的利息收入

按金融资产的账面总值计算，

除非该金融资产出现信贷减

值，在此情况下，利息收入按金

融资产的摊销成本（即账面总值

减亏损拨备）计算。

1 MATERIAL ACOUNTING POLICIES (Continued)

(j) Credit loses and impairment of asets (Continued)

(i) Credit loses from financial instruments (Continued)

Significant increases in credit risk (Continued)

In particular, the folowing information is taken into

acount when asesing whether credit risk has

increased significantly since initial recognition:

— failure to make payments of principal or interest

on their contractualy due dates;

— an actual or expected significant deterioration in

a financial instrument’s external or internal credit

rating (if available);

— an actual or expected significant deterioration in

the operating results of the debtor; and

— existing or forecast changes in the technological,

market, economic or legal environment that have

a significant adverse efect on the debtor’s ability

to met its obligation to the Group.

Depending on the nature of the financial instruments,

the asesment of a significant increase in credit risk is

performed on either an individual basis or a colective

basis. When the asesment is performed on a

colective basis, the financial instruments are grouped

based on shared credit risk characteristics, such as

past due status and credit risk ratings.

ECLs are remeasured at each reporting date to reflect

changes in the financial instrument’s credit risk since

initial recognition. Any change in the ECL amount is

recognised as an impairment gain or los in profit or

los. The Group recognises an impairment gain or

los for al financial instruments with a coresponding

adjustment to their carying amount through a los

alowance acount.

Basis of calculation of interest income

Interest income recognised in acordance with note 1(r)

(i) is calculated based on the gros carying amount of

the financial aset unles the financial aset is credit-

impaired, in which case interest income is calculated

based on the amortised cost (i.e. the gros carying

amount les los alowance) of the financial aset.

Tam Jai International Co. Limited Anual Report 2024/25

Notes to the fiNaNcial statemeNts

财务报表附注

(Expresed in Hong Kong dolars unles otherwise indicated) （除非另外指明，否则以港元列示）

1 重大会计政策（续）

(j) 信贷亏损及资产减值（续）

(i) 金融工具的信贷亏损（续）

计算利息收入的基准（续）

于各报告日期，本集团评估金

融资产是否有出现信贷减值。

当发生一项或多项对金融资产

估计未来现金流量有不利影响

的事件时，金融资产出现信贷

减值。

金融资产出现信贷减值的证据

包括以下可观察事件：

— 债务人出现严重财务

困难；

— 违反合约，如欠缴或逾期

事件；

— 借款人很有可能将告破产

或进行其他财务重组；

— 技术、市场、经济或法律

环境出现对债务人有不利

影响的重大变动；或

— 由于发行人出现财务困

难，证券活跃市场消失。

撇销政策

倘金融资产实际上并无收回的

可能，则其账面总值会被撇销

（部分或全部）。该情况通常出现

在本集团确定债务人并无资产

或收入来源可产生充足现金流

量以偿还应予撇销的金额。

随后收回过往撇销的资产于收

回期间在损益确认为减值拨回。

1 MATERIAL ACOUNTING POLICIES (Continued)

(j) Credit loses and impairment of asets (Continued)

(i) Credit loses from financial instruments (Continued)

Basis of calculation of interest income (Continued)

At each reporting date, the Group aseses whether

a financial aset is credit-impaired. A financial aset is

credit-impaired when one or more events that have a

detrimental impact on the estimated future cash flows

of the financial aset have ocured.

Evidence that a financial aset is credit-impaired

includes the folowing observable events:

— significant financial dificulties of the debtor;

— a breach of contract, such as a default or past

due event;

— it becoming probable that the borower wil enter

into bankruptcy or other financial reorganisation;

— significant changes in the technological, market,

economic or legal environment that have an

adverse efect on the debtor; or

— the disapearance of an active market for a

security because of financial dificulties of the

isuer.

Write-of policy

The gros carying amount of a financial aset is writen

of (either partialy or in ful) to the extent that there is no

realistic prospect of recovery. This is generaly the case

when the Group determines that the debtor does not

have asets or sources of income that could generate

suficient cash flows to repay the amounts subject to

the write-of.

Subsequent recoveries of an aset that was previously

writen of are recognised as a reversal of impairment in

profit or los in the period in which the recovery ocurs.

谭仔国际有限公司 2024/25 年报

Notes to the fiNaNcial statemeNts

财务报表附注

(Expresed in Hong Kong dolars unles otherwise indicated) （除非另外指明，否则以港元列示）

1 重大会计政策（续）

(j) 信贷亏损及资产减值（续）

(i) 其他非流动资产减值

内部及外部资料来源于各报告

期末进行审阅，以确定本公司

财务状况表内的物业、机器及

设备、使用权资产、无形资产、

商誉及于附属公司的投资可能

出现减值的迹象，或先前确认

的减值亏损不再存在或可能

减少。

如果存在任何此类迹象，则估

计该资产的可收回金额。

— 可收回金额的计算

资产的可收回金额为公允

价值减出售成本与使用价

值两者间的较高者。在评

估使用价值时，估计未来

现金流量按反映当时市场

对货币时间价值及该资产

特定风险的评估的税前贴

现率贴现至其现值。倘资

产并无产生大致独立于其

他资产的现金流入，则就

独立产生现金流入的最小

资产组别（即现金产生单

位）厘定可收回金额。公

司资产的账面值一部分

配至个别现金产生单位，

惟前提是分配可按合理及

稳定的基准完成，否则分

配至最小现金产生单位

组别。

— 减值亏损的确认

当资产或其所属现金产生

单位的账面值超逾其可

收回金额时，则于损益确

认减值亏损。就现金产生

单位确认的减值亏损，会

予以分配，以按比例调低

该单位（或单位组别）中资

产的账面值，惟资产账面

值不会调低至低于其个别

公允价值减出售成本（如

可计量）或使用价值（如可

厘定）。

1 MATERIAL ACOUNTING POLICIES (Continued)

(j) Credit loses and impairment of asets (Continued)

(i) Impairment of other non-curent asets

Internal and external sources of information are

reviewed at the end of each reporting period to identify

indications that property, plant and equipment, right-of-

use asets, intangible aset, godwil and investments

in subsidiaries in the Company’s statement of financial

position may be impaired or an impairment los

previously recognised no longer exists or may have

decreased.

If any such indication exists, the aset’s recoverable

amount is estimated.

— Calculation of recoverable amount

The recoverable amount of an aset is the greater

of its fair value les costs of disposal and value

in use. In asesing value in use, the estimated

future cash flows are discounted to their present

value using a pre-tax discount rate that reflects

curent market asesments of the time value

of money and the risks specific to the aset.

Where an aset does not generate cash inflows

largely independent of those from other asets,

the recoverable amount is determined for the

smalest group of asets that generates cash

inflows independently (i.e. a cash-generating unit).

A portion of the carying amount of a corporate

aset is alocated to an individual cash-generating

unit if the alocation can be done on a reasonable

and consistent basis, or to the smalest group of

cash-generating units if otherwise.

— Recognition of impairment loses

An impairment los is recognised in profit or los

if the carying amount of an aset, or the cash-

generating unit to which it belongs, exceds

its recoverable amount. Impairment loses

recognised in respect of cash-generating units

are alocated to reduce the carying amount of

the asets in the unit (or group of units) on a pro

rata basis, except that the carying value of an

aset wil not be reduced below its individual fair

value les costs of disposal (if measurable) or

value in use (if determinable).

Tam Jai International Co. Limited Anual Report 2024/25

Notes to the fiNaNcial statemeNts

财务报表附注

(Expresed in Hong Kong dolars unles otherwise indicated) （除非另外指明，否则以港元列示）

1 重大会计政策（续）

(j) 信贷亏损及资产减值（续）

(i) 其他非流动资产减值（续）

— 减值亏损的拨回

倘用作厘定可收回金额的

估计出现有利变动，则拨

回减值亏损。

减值亏损的拨回仅限于假

设于过往年度并无确认减

值亏损时原应厘定的资

产账面值。减值亏损拨回

于确认拨回的年度计入损

益。商誉的减值亏损不予

拨回。

(i) 中期财务报告及减值

根据香港联合交易所有限公司

证券上市规则，本集团须就财

政年度首六个月编制符合香港

会计准则第34号「中期财务报

告」的中期财务报告。于中期

间末，本集团应用与于财政年

度末相同的减值测试、确认及

拨回准则（见附注1(j)(i)）。

(k) 存货

存货为于日常业务过程中持作销售、

于生产过程中持作有关销售或以材料

或供应品形式于生产过程或提供服务

过程中消耗的资产。

存货按成本与可变现净值两者中的较

低者列账。

成本按先进先出成本公式计算，并包

括所有采购成本、转换成本及将存货

运至现时所在地及达致现时状况所产

生的其他成本。

1 MATERIAL ACOUNTING POLICIES (Continued)

(j) Credit loses and impairment of asets (Continued)

(i) Impairment of other non-curent asets (Continued)

— Reversals of impairment loses

An impairment los is reversed if there has ben

a favourable change in the estimates used to

determine the recoverable amount.

A reversal of an impairment los is limited to

the aset’s carying amount that would have

ben determined had no impairment los

ben recognised in prior years. Reversals of

impairment loses are credited to profit or los

in the year in which the reversals are recognised.

An impairment los in respect of godwil is not

reversed.

(i) Interim financial reporting and impairment

Under the Rules Governing the Listing of Securities on

the Stock Exchange of Hong Kong Limited, the Group

is required to prepare an interim financial report in

compliance with HKAS 34, Interim financial reporting,

in respect of the first six months of the financial year.

At the end of the interim period, the Group aplies the

same impairment testing, recognition, and reversal

criteria as it would at the end of the financial year (se

note 1(j)(i).

(k) Inventories

Inventories are asets which are held for sale in the ordinary

course of busines, in the proces of production for such sale

or in the form of materials or suplies to be consumed in the

production proces or in the rendering of services.

Inventories are caried at the lower of cost and net realisable

value.

Cost is calculated using the first-in-first-out cost formula and

comprises al costs of purchase, costs of conversion and

other costs incured in bringing the inventories to their present

location and condition.

谭仔国际有限公司 2024/25 年报

Notes to the fiNaNcial statemeNts

财务报表附注

(Expresed in Hong Kong dolars unles otherwise indicated) （除非另外指明，否则以港元列示）

1 重大会计政策（续）

(k) 存货（续）

可变现净值为于日常业务过程中的估

计售价减去估计完工成本及进行销售

的估计所需成本。

出售存货时，该等存货的账面值会在

相关收益确认期间确认为开支。

将任何存货撇减至可变现净值的金额

及所有存货亏损会在发生撇减或亏损

期间确认为开支。任何存货撇减拨回

的金额确认为于发生拨回期间确认为

开支的存货金额减少。

(l) 贸易及其他应收款项

应收款项于本集团有无条件权利收取

代价时确认。在代价到期付款前仅需

时间推移的情况下，收取代价的权利

方会成为无条件。

并无包含重大融资组成部分的贸易应

收款项初步按其交易价计量。包含重

大融资组成部分的贸易应收款项及其

他应收款项初步按公允价值加交易成

本计量。应收款项其后以实际利率法

按摊销成本（包括信贷亏损拨备）列账

（见附注1(j)(i)）。

1 MATERIAL ACOUNTING POLICIES (Continued)

(k) Inventories (Continued)

Net realisable value is the estimated seling price in the ordinary

course of busines les the estimated costs of completion and

the estimated costs necesary to make the sale.

When inventories are sold, the carying amount of those

inventories is recognised as an expense in the period in which

the related revenue is recognised.

The amount of any write-down of inventories to net realisable

value and al loses of inventories are recognised as an

expense in the period the write-down or los ocurs. The

amount of any reversal of any write-down of inventories

is recognised as a reduction in the amount of inventories

recognised as an expense in the period in which the reversal

ocurs.

(l) Trade and other receivables

A receivable is recognised when the Group has an

unconditional right to receive consideration. A right to receive

consideration is unconditional if only the pasage of time is

required before payment of that consideration is due.

Trade receivables that do not contain a significant financing

component are initialy measured at their transaction

price. Trade receivables that contain a significant financing

component and other receivables are initialy measured at fair

value plus transaction costs. Al receivables are subsequently

stated at amortised cost, using the efective interest method

including an alowance for credit loses (se note 1(j)(i).

Tam Jai International Co. Limited Anual Report 2024/25

Notes to the fiNaNcial statemeNts

财务报表附注

(Expresed in Hong Kong dolars unles otherwise indicated) （除非另外指明，否则以港元列示）

1 重大会计政策（续）

(m) 现金及现金等价物

现金及现金等价物包括银行及手头现

金、于银行及其他金融机构的活期存

款，以及可随时兑换为已知金额现金

且价值变动风险很小的短期高流动性

投资（收购时于三个月内到期）。现金

及现金等价物根据附注1(j)(i)所载政策

评估预期信贷亏损。

(n) 贸易及其他应付款项及合约负债

贸易及其他应付款项初步按公允价

值确认。初步确认后，贸易及其他应

付款项则按摊销成本列账，惟倘贴现

影响属微不足道则作别论，在该情况

下，该等款项按发票金额列账。

合约负债于客户在本集团确认相关收

益前支付不可退还代价时确认（见附

注1(r)）。倘本集团于其确认相关收益

前具无条件权利收取不可退还代价，

合约负债亦将确认。在该等情况下，

本集团亦将确认相应收款项（见附

注1(l)）。

(o) 雇员福利

(i) 短期雇员福利及界定供款退

休计划的供款

薪金、花红、有薪年假、界定供

款退休计划的供款及非货币福

利成本，将于雇员提供相关服

务的年度内累计。倘付款或结

算出现递延并造成重大影响，

则该等数额将按现值列账。

1 MATERIAL ACOUNTING POLICIES (Continued)

(m) Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and

on hand, demand deposits with banks and other financial

institutions, and short-term, highly liquid investments that are

readily convertible into known amounts of cash and which

are subject to an insignificant risk of changes in value, having

ben within thre months of maturity at acquisition. Cash and

cash equivalents are asesed for ECLs in acordance with

the policy set out in note 1(j)(i).

(n) Trade and other payables and contract liabilities

Trade and other payables are initialy recognised at fair value.

Subsequent to initial recognition, trade and other payables

are stated at amortised cost unles the efect of discounting

would be imaterial, in which case they are stated at invoice

amounts.

A contract liability is recognised when the customer pays

non-refundable consideration before the Group recognises

the related revenue (se note 1(r). A contract liability would

also be recognised if the Group has an unconditional

right to receive non-refundable consideration before the

Group recognises the related revenue. In such cases, a

coresponding receivable would also be recognised (se note

1(l).

(o) Employe benefits

(i) Short term employe benefits and contributions

to defined contribution retirement plans

Salaries, bonuses, paid anual leave, contributions to

defined contribution retirement plans and the cost of

non-monetary benefits are acrued in the year in which

the asociated services are rendered by employes.

Where payment or setlement is defered and the efect

would be material, these amounts are stated at their

present values.

谭仔国际有限公司 2024/25 年报

Notes to the fiNaNcial statemeNts

财务报表附注

(Expresed in Hong Kong dolars unles otherwise indicated) （除非另外指明，否则以港元列示）

1 重大会计政策（续）

(o) 雇员福利（续）

(i) 以股份为基础的支付

授予雇员的股份奖励及购股权

的公允价值会确认为雇员成

本，并相应在权益内增加以股

份为基础之薪酬储备。公允价

值于授予日期按估值模型计

量，当中考虑到授予的股份奖

励及购股权的条款及条件。倘

若雇员须符合归属条件才能无

条件享有股份奖励及购股权，

则股份奖励及购股权的估计公

允价值总额会于考虑到股份奖

励及购股权归属的可能性后在

归属期内分摊。

于归属期内会审阅预期归属的

股份奖励及购股权数目。对过

往年度已确认的累积公允价值

所作出的调整，会在审阅年度

扣自╱计入损益，除非原有雇员

开支符合资格确认为资产，则

作别论，并会对以股份为基础

之薪酬储备作出相应调整。在

归属日期，确认为开支的金额

会作出调整，以反映实际归属

的股份奖励及购股权数目（并对

以股份为基础之薪酬储备作出

相应调整），惟倘若仅因未能满

足本公司股份市场价格的相关

归属条件而没收则除外。就股

份奖励而言，权益金额于以股

份为基础之薪酬储备内确认，

直至发出股份奖励（当其计入就

已发行股份确认的股本金额时）

或直至购股权获归属（当其计入

就已发行股份确认的股本金额

时）或购股权到期（当直接拨回

至保留溢利时）。

1 MATERIAL ACOUNTING POLICIES (Continued)

(o) Employe benefits (Continued)

(i) Share-based payments

The fair value of share awards and share options

granted to employes is recognised as an employe

cost with a coresponding increase in a share-based

compensation reserve within equity. The fair value is

measured at grant date using the valuation model taking

into acount the terms and conditions upon which the

share awards and share options were granted. Where

the employes have to met vesting conditions before

becoming unconditionaly entitled to the share awards

and share options, the total estimated fair value of the

share awards and share options is spread over the

vesting period, taking into acount the probability that

the share awards and share options wil vest.

During the vesting period, the number of share awards

and share options that is expected to vest is reviewed.

Any resulting adjustment to the cumulative fair value

recognised in prior years is charged/credited to the

profit or los for the year of the review, unles the

original employe expenses qualify for recognition

as an aset, with a coresponding adjustment to the

share-based compensation reserve. On vesting date,

the amount recognised as an expense is adjusted to

reflect the actual number of share awards and share

options that vest (with a coresponding adjustment to

the share-based compensation reserve) except where

forfeiture is only due to not achieving vesting conditions

that relate to the market price of the Company’s

shares. The equity amount is recognised in the share-

based compensation reserve until the share awards are

vested (when it is included in the amount recognised in

share capital for the shares isued) in the case of share

awards or until either the share options are exercised (when

it is included in the amount recognised in share capital

for the shares isued) or the share options expire (when

it is released directly to retained profits).

Tam Jai International Co. Limited Anual Report 2024/25

Notes to the fiNaNcial statemeNts

财务报表附注

(Expresed in Hong Kong dolars unles otherwise indicated) （除非另外指明，否则以港元列示）

1 重大会计政策（续）

(o) 雇员福利（续）

(i) 长期服务金责任

本集团根据香港雇佣条例就在

若干情况下于雇员终止受雇时

支付长期服务金所承担的责任

净额，为有关雇员于本期间及

过往期间以所提供服务赚取

的未来福利估计贴现金额。该

责任按年计算，当中计及与本

集团强制性公积金（「强积金计

划」）供款有关的累计权益，有

关供款可用于抵销过渡前长期

服务金。

界定福利负债净额的服务成本

于损益内确认为「员工成本」。

即期服务成本按因本期间雇员

服务所产生的界定福利责任的

现值增幅计量。

长期服务金导致的重新计量（如

属重大）于其他全面收益确认及

立即计入保留溢利。

(p) 所得税

年内所得税包括即期税项及递延税项

资产及负债的变动。即期税项及递延

税项资产及负债的变动均于损益确

认，惟其与在其他全面收益或直接于

权益确认的项目有关则除外，在此情

况下，有关税项金额分别于其他全面

收益或直接于权益确认。

即期税项为就年内应课税收入按于报

告期末已颁布或实质已颁布的税率计

算的预期应付税项，并就过往年度的

应付税项作出任何调整。

1 MATERIAL ACOUNTING POLICIES (Continued)

(o) Employe benefits (Continued)

(i) Long service payment obligation

The Group’s net obligation under the Hong Kong

Employment Ordinance in respect of long service

payments on cesation of employment under certain

circumstances is the estimated discounted amount

of future benefit that employes have earned in return

for their services in the curent and prior periods. The

obligation is calculated anualy, taking into acount

acrued benefits related to the Group’s Mandatory

Provident Fund (“MPF Scheme”) contributions that can

be used to ofset pre-transition long service payments.

Service cost on the net defined benefit liability is

recognised in profit or los as “staf costs”. Curent

service cost is measured as the increase in the present

value of the defined benefit obligation resulting from

employe services in the curent period.

Remeasurement arising from long service payments, if

material, is recognised in other comprehensive income

and reflected imediately in retained profits.

(p) Income tax

Income tax for the year comprises curent tax and

movements in defered tax asets and liabilities. Curent

tax and movements in defered tax asets and liabilities are

recognised in profit or los except to the extent that they

relate to items recognised in other comprehensive income or

directly in equity, in which case the relevant amounts of tax

are recognised in other comprehensive income or directly in

equity, respectively.

Curent tax is the expected tax payable on the taxable income

for the year, using tax rates enacted or substantively enacted

at the end of the reporting period, and any adjustment to tax

payable in respect of previous years.

谭仔国际有限公司 2024/25 年报

Notes to the fiNaNcial statemeNts

财务报表附注

(Expresed in Hong Kong dolars unles otherwise indicated) （除非另外指明，否则以港元列示）

1 重大会计政策（续）

(p) 所得税（续）

递延税项资产及负债分别自可扣税及

应课税的暂时差额产生，即就财务报

告目的而言资产及负债账面值与其

税基之间的差额。递延税项资产亦自

未动用税项亏损及未动用税项抵免

产生。

除首次确认资产及负债产生的差异

外，所有递延税项负债及所有递延税

项资产（以可能有未来应课税溢利可

供用作抵销该等资产为限）均会予以

确认。能支持确认由可扣减暂时差额

所产生递延税项资产的未来应课税溢

利包括因拨回现有应课税暂时差额而

产生的金额，惟此等差额必须与同一

税务机关及同一应课税实体有关，并

预期在可扣减暂时差额预计拨回的同

一期间或递延税项资产所产生税项亏

损可向后期或向前期结转的期间内拨

回。在决定现有应课税暂时差额是否

支持确认由未使用税项亏损及税项抵

免产生的递延税项资产时，亦会采用

同一准则，即该等差额若与同一税务

机关及同一应课税实体有关，并预期

在能使用税项亏损或抵免的期间内拨

回，则予以考虑。

已确认的递延税项金额按照资产与负

债账面值的预期变现或清偿方式，使

用报告期末已颁布或实质已颁布的税

率计量。递延税项资产与负债均不予

贴现。

递延税项资产的账面值在各报告期末

审阅；倘不再可能获得足够的应课税

溢利以抵扣相关税项利益，则调低该

递延税项资产的账面值。倘日后有可

能获得足够的应课税溢利，则拨回该

等削减金额。

1 MATERIAL ACOUNTING POLICIES (Continued)

(p) Income tax (Continued)

Defered tax asets and liabilities arise from deductible

and taxable temporary diferences respectively, being the

diferences betwen the carying amounts of asets and

liabilities for financial reporting purposes and their tax bases.

Defered tax asets also arise from unused tax loses and

unused tax credits.

Apart from diferences which arise on initial recognition of

asets and liabilities, al defered tax liabilities, and al defered

tax asets to the extent that it is probable that future taxable

profits wil be available against which the aset can be utilised,

are recognised. Future taxable profits that may suport the

recognition of defered tax asets arising from deductible

temporary diferences include those that wil arise from the

reversal of existing taxable temporary diferences, provided

those diferences relate to the same taxation authority and

the same taxable entity, and are expected to reverse either in

the same period as the expected reversal of the deductible

temporary diferences or in periods into which a tax los

arising from the defered tax aset can be caried back or

forward. The same criteria are adopted when determining

whether existing taxable temporary diferences suport the

recognition of defered tax asets arising from unused tax

loses and credits, that is, those diferences are taken into

acount if they relate to the same taxation authority and the

same taxable entity, and are expected to reverse in a period,

or periods, in which the tax los or credit can be utilised.

The amount of defered tax recognised is measured based

on the expected maner of realisation or setlement of the

carying amount of the asets and liabilities, using tax rates

enacted or substantively enacted at the end of the reporting

period. Defered tax asets and liabilities are not discounted.

The carying amount of a defered tax aset is reviewed at

the end of each reporting period and is reduced to the extent

that it is no longer probable that suficient taxable profits wil

be available to alow the related tax benefit to be utilised.

Any such reduction is reversed to the extent that it becomes

probable that suficient taxable profits wil be available.

Tam Jai International Co. Limited Anual Report 2024/25

Notes to the fiNaNcial statemeNts

财务报表附注

(Expresed in Hong Kong dolars unles otherwise indicated) （除非另外指明，否则以港元列示）

1 重大会计政策（续）

(p) 所得税（续）

当需要经济利益流出的可能性较低或

金额不能可靠估计时，责任会披露为

或然负债，除非出现经济利益流出的

可能性极低则作别论。潜在责任（其

存在将仅由一宗或以上未来事件的

发生或不发生确认）亦披露为或然负

债，除非经济利益流出的可能性极低

则作别论。

(q) 拨备及或然负债

拨备乃于本集团因过往事件而产生法

律或推定责任，而可能需要经济利益

流出以清偿责任及能作出可靠估计

时予以确认。倘货币的时间价值属重

大，拨备乃按预期清偿责任的开支现

值列账。

(r) 收益及其他收入

当收入因在本集团日常业务过程中销

售食品或提供服务而产生时由本集团

分类为收益。

当产品或服务的控制权转移至客户

时，即按本集团预期有权收取的承诺

代价金额确认收益，惟不包括代表第

三方收取的金额。收益不包括增值

税或其他销售税，并已扣除任何贸易

折扣。

1 MATERIAL ACOUNTING POLICIES (Continued)

(p) Income tax (Continued)

Where it is not probable that an outflow of economic benefits

wil be required, or the amount canot be estimated reliably,

the obligation is disclosed as a contingent liability, unles

the probability of outflow of economic benefits is remote.

Posible obligations, whose existence wil only be confirmed

by the ocurence or non-ocurence of one or more future

events are also disclosed as contingent liabilities unles the

probability of outflow of economic benefits is remote.

(q) Provisions and contingent liabilities

Provisions are recognised when the Group has a legal or

constructive obligation arising as a result of a past event, it is

probable that an outflow of economic benefits wil be required

to setle the obligation and a reliable estimate can be made.

Where the time value of money is material, provisions are

stated at the present value of the expenditure expected to

setle the obligation.

(r) Revenue and other income

Income is clasified by the Group as revenue when it arises

from the sale of gods or the provision of services in the

ordinary course of the Group’s busines.

Revenue is recognised when control over a product or service

is transfered to the customer at the amount of promised

consideration to which the Group is expected to be entitled,

excluding those amounts colected on behalf of third parties.

Revenue excludes value-aded tax or other sales taxes and is

after deduction of any trade discounts.

谭仔国际有限公司 2024/25 年报

Notes to the fiNaNcial statemeNts

财务报表附注

(Expresed in Hong Kong dolars unles otherwise indicated) （除非另外指明，否则以港元列示）

1 重大会计政策（续）

(r) 收益及其他收入（续）

有关本集团收益及其他收入确认政策

的进一步详情如下：

(i) 销售食品及饮料

本集团确认来自经营提供餐饮

服务的餐厅的收益。提供餐饮

服务所得收益于提供服务的时

间点确认。

会员计划

本集团营运一项会员计划，此

顾客可通过合资格的购买赚取

奖赏积分。通过合资格的购买

赚取的奖赏积分让顾客可于未

来购买中享有折扣，并被视为

与顾客进行交易所产生的一项

个别履约责任。本集团根据预

期基于过往兑换模式兑换奖赏

积分所涉及的产品或服务的估

计价值对未来兑换责任价值作

出估计，包括估计将不会兑换

的失效奖赏积分。其后，于客

户于未来购买中兑换奖赏积分

时，或本集团于奖赏积分失效

时合法解除其法律责任时，合

约负债确认为收益。

1 MATERIAL ACOUNTING POLICIES (Continued)

(r) Revenue and other income (Continued)

Further details of the Group’s revenue and other income

recognition policies are as folows:

(i) Sale of fod and beverages

The Group recognises revenue from the operation of

restaurants which provide catering services. Revenue

from the provision of catering services is recognised at

a point in time when the services are rendered.

Loyalty programe

The Group operates a loyalty programe where

customers acumulate reward points from qualified

purchases. The reward points earned through

qualified purchases entitle the customers to discount

future purchases and are considered as a separate

performance obligation arising from transactions with

customers. The Group estimates the value of the

future redemption obligation based on the estimated

value of the products or services for which the reward

points are expected to be redemed based on the

historical redemption patern, including an estimate of

the lapse of reward points that wil not be redemed.

Subsequently, the contract liability is recognised as

revenue at the point in time when the customers

redem the reward points in future purchases, or when

the Group is legaly released from its obligation when

the reward points expire.

Tam Jai International Co. Limited Anual Report 2024/25

Notes to the fiNaNcial statemeNts

财务报表附注

(Expresed in Hong Kong dolars unles otherwise indicated) （除非另外指明，否则以港元列示）

1 重大会计政策（续）

(r) 收益及其他收入（续）

(i) 销售食品及饮料（续）

优惠券

本集团于顾客购买优惠券时收

到代价，根据预期将赎回的优

惠券所涉及的产品或服务的估

计价值对未来兑换责任的价值

作出估计，并以估计公允价值

于财务状况表内确认为合约负

债。其后，合约负债于顾客在未

来的购买中兑换优惠券之时或

当本集团于优惠券届满时可依

法解除责任之时，确认为收益。

(i) 利息收入

利息收入根据实际利率法按将

金融资产预期年期的估计未来

现金收入准确折现至金融资产

账面总值的利率随著累计而确

认。就信贷减值的金融资产而

言，实际利率应用于该资产的

摊销成本（即扣除亏损拨备的总

账面值）（见附注1(j)(i)）。

(i) 政府补助

倘有合理保证将收取政府补助

而本集团将遵守其附带条件，

则于财务状况表内初始确认政

府补助。补偿本集团已产生开

支的补助于开支产生的相同期

间有系统地在损益确认为收入。

(iv) 向合营公司供应的食品及餐

饮用品

本集团确认向提供餐饮服务的

合营公司供应的食品及餐饮用

品的收益。食品及餐饮用品的

收益于货品交付时在某一时间

点确认。

1 MATERIAL ACOUNTING POLICIES (Continued)

(r) Revenue and other income (Continued)

(i) Sale of fod and beverages (Continued)

Coupons

The Group receives consideration when customers

purchase coupons, estimates the value of the future

redemption obligation based on the estimated value

of the products or services for which the coupons

are expected to be redemed, and recognises the

estimated fair value in the statement of financial position

as a contract liability. Subsequently, the contract liability

is recognised as revenue at the point in time when the

customers redem the coupons in future purchases, or

when the Group is legaly released from its obligation

when the coupons expire.

(i) Interest income

Interest income is recognised as it acrues under the

efective interest method using the rate that exactly

discounts estimated future cash receipts through the

expected life of the financial aset to the gros carying

amount of the financial aset. For credit-impaired

financial asets, the efective interest rate is aplied to

the amortised cost (i.e. gros carying amount net of

los alowance) of the aset (se note 1(j)(i).

(i) Government grants

Government grants are recognised in the statement

of financial position initialy when there is reasonable

asurance that they wil be received and that the

Group wil comply with the conditions ataching to

them. Grants that compensate the Group for expenses

incured are recognised as income in profit or los on

a systematic basis in the same periods in which the

expenses are incured.

(iv) Fod and restaurant suplies to a joint venture

The Group recognises revenue from the suplies of

fod and restaurant suplies to a joint venture which

provide catering services. Revenue from fod and

restaurant suplies is recognised at a point in time

when the suplies are delivered.

谭仔国际有限公司 2024/25 年报

Notes to the fiNaNcial statemeNts

财务报表附注

(Expresed in Hong Kong dolars unles otherwise indicated) （除非另外指明，否则以港元列示）

1 重大会计政策（续）

(s) 换算外币

年内的外币交易乃按于交易日期适用

的外币汇率换算。以外币计值的货币

资产及负债乃按于报告期末适用的外

币汇率换算。汇兑收益及亏损乃于损

益确认。

以外币的历史成本计量的非货币资产

及负债乃使用于交易日期适用的外币

汇率换算。交易日期为本集团初步确

认有关非货币资产或负债的日期。按

公允价值列账的以外币计值的非货币

资产及负债乃使用于计量公允价值当

日适用的外币汇率换算。

海外业务的业绩按与交易日期当时外

币汇率相若的汇率换算为港元。财务

状况表项目按于报告期末的期末汇率

换算为港元。所得汇兑差额于其他全

面收益确认及于汇兑储备在权益中另

行累计。

(t) 关联方

(a) 如某人士属以下情况，则该人

士或其近亲家族成员与本集团

有关联：

(i) 可控制或共同控制本

集团；

(i) 对本集团有重大影响力；

或

(i) 是本集团或本集团母公

司的主要管理层人员的

成员。

1 MATERIAL ACOUNTING POLICIES (Continued)

(s) Translation of foreign curencies

Foreign curency transactions during the year are translated

at the foreign exchange rates ruling at the transaction dates.

Monetary asets and liabilities denominated in foreign

curencies are translated at the foreign exchange rates ruling

at the end of the reporting period. Exchange gains and loses

are recognised in profit or los.

Non-monetary asets and liabilities that are measured in

terms of historical cost in a foreign curency are translated

using the foreign exchange rates ruling at the transaction

dates. The transaction date is the date on which the Group

initialy recognises such non-monetary asets or liabilities.

Non-monetary asets and liabilities denominated in foreign

curencies that are stated at fair value are translated using the

foreign exchange rates ruling at the dates the fair value was

measured.

The results of foreign operations are translated into Hong

Kong dolars at the exchange rates aproximating the foreign

exchange rates ruling at the dates of the transactions.

Statement of financial position items are translated into Hong

Kong dolars at the closing foreign exchange rates at the end

of the reporting period. The resulting exchange diferences are

recognised in other comprehensive income and acumulated

separately in equity in the exchange reserve.

(t) Related parties

(a) A person, or a close member of that person’s family, is

related to the Group if that person:

(i) has control or joint control over the Group;

(i) has significant influence over the Group; or

(i) is a member of the key management personel of

the Group or the Group’s parent.

Tam Jai International Co. Limited Anual Report 2024/25

Notes to the fiNaNcial statemeNts

财务报表附注

(Expresed in Hong Kong dolars unles otherwise indicated) （除非另外指明，否则以港元列示）

1 重大会计政策（续）

(t) 关联方（续）

(b) 在以下任何条件适用时，则实

体与本集团有关联：

(i) 该实体及本集团为同一

集团的成员公司（即母公

司、附属公司及同系附属

公司各自互有关联）。

(i) 某实体是另一实体的联营

公司或合营公司（或另一

实体为成员公司的某集团

的成员公司的联营公司或

合营公司）。

(i) 两间实体为同一第三方的

合营公司。

(iv) 某实体是第三方实体的

合营公司，而另一实体则

是该第三方实体的联营

公司。

(v) 该实体为提供福利予本集

团或与本集团有关联的实

体的雇员的离职后福利

计划。

(vi) 该实体受(a)项中所识别的

人士控制或共同控制。

(vi) 在(a)(i)项中所识别的人士

对该实体有重大影响力，

或该人士是该实体（或该

实体母公司）的主要管理

层人员的成员。

(vi) 实体或该实体所属集团的

任何成员公司向本集团或

本集团的母公司提供主要

管理层人员服务。

某人士的近亲家族成员为在与

实体进行交易时可能预期会影

响该名人士或受到其影响的家

族成员。

1 MATERIAL ACOUNTING POLICIES (Continued)

(t) Related parties (Continued)

(b) An entity is related to the Group if any of the folowing

conditions aplies:

(i) The entity and the Group are members of the

same group (which means that each parent,

subsidiary and felow subsidiary is related to the

others).

(i) One entity is an asociate or joint venture of the

other entity (or an asociate or joint venture of a

member of a group of which the other entity is a

member).

(i) Both entities are joint ventures of the same third

party.

(iv) One entity is a joint venture of a third entity and

the other entity is an asociate of the third entity.

(v) The entity is a post-employment benefit plan for

the benefit of employes of either the Group or an

entity related to the Group.

(vi) The entity is controled or jointly controled by a

person identified in (a).

(vi) A person identified in (a)(i) has significant

influence over the entity or is a member of the

key management personel of the entity (or of a

parent of the entity).

(vi) The entity, or any member of a group of which

it is a part, provides key management personel

services to the Group or to the Group’s parent.

Close members of the family of a person are those

family members who may be expected to influence, or

be influenced by, that person in their dealings with the

entity.

谭仔国际有限公司 2024/25 年报

Notes to the fiNaNcial statemeNts

财务报表附注

(Expresed in Hong Kong dolars unles otherwise indicated) （除非另外指明，否则以港元列示）

1 重大会计政策（续）

(u) 分部报告

经营分部及财务报表所呈报各分部项

目的金额，乃从为向本集团各项业务

及地理位置分配资源及评估其业绩而

定期向本集团最高行政管理人员提供

的财务资料当中识别出来。

个别重要的经营分部不会合计以作财

务报告之用，除非该等分部的经济特

征相若，且产品和服务性质、生产工

序性质、客户类别或阶层、分销产品

或提供服务所用的方法以至监管环境

的本质等均属类似，则作别论。个别

不重要的经营分部如符合以上大部分

条件，则可以合计为一个呈报分部。

2 会计判断及估计

估计及判断持续评估，并以过往经验及其

他因素为基础，包括对相信在相关情况下

属合理的未来事件的预测。

本集团作出有关未来的估计及假设。得出

的会计估计按道理很少等于相关实际业

绩。具导致对下个财政期间资产及负债账

面值造成重大调整的重大风险的估计及假

设以及重大估计及不确定因素来源在下文

讨论：

使用权资产、物业、机器及设备、无形资

产及商誉减值

内部及外部资料来源于各报告期末审阅，

以评估是否有任何迹象显示使用权资产、

物业、机器及设备、无形资产及商誉可能

出现减值。倘存在任何该等迹象，则估计

使用权资产、物业、机器及设备、无形资产

及商誉的可收回金额。事实及情况的变化

可能导致对是否存在减值迹象的结论进行

修订，以及修改可收回金额的估计，其将

影响未来期间的溢利或亏损。

1 MATERIAL ACOUNTING POLICIES (Continued)

(u) Segment reporting

Operating segments, and the amounts of each segment item

reported in the financial statements, are identified from the

financial information provided regularly to the Group’s most

senior executive management for the purposes of alocating

resources to, and asesing the performance of, the Group’s

various lines of busines and geographical locations.

Individualy material operating segments are not agregated

for financial reporting purposes unles the segments have

similar economic characteristics and are similar in respect of

the nature of products and services, the nature of production

proceses, the type or clas of customers, the methods used

to distribute the products or provide the services, and the

nature of the regulatory environment. Operating segments

which are not individualy material may be agregated if they

share a majority of these criteria.

2 ACOUNTING JUDGEMENTS AND ESTIMATES

Estimates and judgements are continualy evaluated and are based

on historical experience and other factors, including expectations

of future events that are believed to be reasonable under the

circumstances.

The Group makes estimates and asumptions concerning the

future. The resulting acounting estimates wil, by definition, seldom

equal to the related actual results. The estimates and asumptions

that have a significant risk of causing a material adjustment to the

carying amounts of asets and liabilities within the next financial

period and significant sources of estimation uncertainty are

discused below:

Impairment of right-of-use asets, property, plant and

equipment, intangible aset and godwil

Internal and external sources of information are reviewed at the end

of each reporting period to ases whether there is any indication

that right-of-use asets, property, plant and equipment, intangible

aset and godwil may be impaired. If any such indication exists,

the recoverable amount of the right-of-use asets, property, plant

and equipment, intangible aset and godwil is estimated. Changes

in facts and circumstances may result in revisions to the conclusion

of whether an indication of impairment exists and revised estimates

of recoverable amounts, which would afect profit or los in future

periods.

20252025
二零二五年二零二五年
$’000$’000
千元千元
Hong Kong (place of domicile)香港（所在地）2,680,4642,570,897890,393816,440
Mainland China and overseas market中国内地及海外市场162,217177,50980,102155,570
2,842,6812,748,406970,495972,010

Tam Jai International Co. Limited Anual Report 2024/25

Notes to the fiNaNcial statemeNts

财务报表附注

(Expresed in Hong Kong dolars unles otherwise indicated) （除非另外指明，否则以港元列示）

3 收益及分部资料

本集团的主要活动为经营餐厅。餐厅以「谭

仔」、「三哥」、「山牛」及「丸亀制面」的名义

营运。

本集团以单一单位管理其业务，因此，经

营餐厅是唯一的报告分部，而几乎所有收

益及经营溢利均来自此业务分部。财务报

表已按与内部向本集团最高行政管理层报

告资料以进行资源分配及评估表现一致的

方式呈列。因此，并无披露独立的业务分

部资料。

收益指食品、饮料及餐厅用品的销售价

值，不计及增值税或其他销售税，并经扣

除任何商业折扣。

(a) 地理资料

下表列载有关(i)本集团来自外部客户

及合营公司收益及(i)本集团使用权资

产、物业、机器及设备、无形资产及

商誉（「特定非流动资产」）的地理位置

资料。客户的地理位置基于提供服务

或交付商品的地点。特定非流动资产

的地理位置基于资产的实体位置（就

使用权资产及物业、机器及设备而

言）、所分配业务的位置（就无形资产

及商誉而言）及业务的位置（就合营公

司权益而言）。

3 REVENUE AND SEGMENT INFORMATION

The principal activities of the Group are the operation of restaurants.

The restaurants trade in the name of “TamJai”, “SamGor”, “Yakiniku

Yamagyu”and “Marugame Seimen”.

The Group manages its busines as a single unit and, acordingly,

the operation of restaurants is the only reporting segment and

virtualy al of the revenue and operating profits is derived from this

busines segment. The financial statements are already presented

in a maner consistent with the way in which information is reported

internaly to the Group’s most senior executive management for

the purposes of resource alocation and performance asesment.

Acordingly, no separate busines segment information is disclosed.

Revenue represents the sales value of fod and beverages and

restaurant’s suplies and excludes value-aded tax or other sales

taxes and is after deduction of any trade discounts.

(a) Geographic information

The folowing table sets out information about the geographical

location of (i) the Group’s revenue from external customers

and a joint venture and (i) the Group’s right-of-use asets,

property, plant and equipment, intangible aset and godwil

(“specified non-curent asets”). The geographical location of

customers is based on the location at which the services were

provided or the gods delivered. The geographical location

of the specified non-curent asets is based on the physical

location of the aset, in the case of right-of-use asets and

property, plant and equipment, the location of the operation

to which they are alocated, in the case of intangible aset and

godwil, and the location of operations, in case of interest in

a joint venture.

Revenue from

external customers and

a joint venture

Specified

non-curent asets

外部客户及合营公司收益特定非流动资产

2025
二零二五年
$’000
千元
Bank interest income银行利息收入43,17544,085
Management fee income管理费收入1,9073,341
Government subsidies (Note)政府补贴（附注）6681,602
Gain on early termination of leases, net提前终止租赁的收益，净额4,072987
Loss on disposal of property, plant and equipment, net出售物业、机器及设备的亏损， 净额(9,284)(2,620)
Exchange loss, net汇兑亏损，净额(790)(1,856)
Others其他5,1105,000
44,85850,539

谭仔国际有限公司 2024/25 年报

Notes to the fiNaNcial statemeNts

财务报表附注

(Expresed in Hong Kong dolars unles otherwise indicated) （除非另外指明，否则以港元列示）

3 收益及分部资料（续）

(b) 有关主要客户的资料

截至二零二五年及二零二四年三月三

十一日止年度，概无个别客户贡献的

收益超过本集团总收益的10%。

4 其他收入净额

附注： 截至二零二五年及二零二四年三月三十一日止年

度，有关金额主要指新加坡政府根据渐进式加薪补贴

计划发放的补贴。

3 REVENUE AND SEGMENT INFORMATION (Continued)

(b) Information about major customers

There was no revenue from an individual customer

contributing over 10% of total revenue of the Group during the

years ended 31 March 2025 and 2024.

4 OTHER NET INCOME

Note: For the years ended 31 March 2025 and 2024, the amount mainly represented

subsidies provided by government of Singapore under Progresive Wage Credit

Scheme.

2025
二零二五年
$’000
千元
Staff costs (including directors’ emoluments (note 7))员工成本（包括董事薪酬 （附注7））
Salaries, wages and other benefits薪金、工资及其他福利877,534844,227
Contributions to defined contribution retirement plans定额退休计划供款38,05636,830
Long service payments长期服务金3,6234,603
Share-based payments以股份为基础的支付2,6943,846
921,907889,506
Finance costs融资成本
Interest on lease liabilities (note 15(c))租赁负债利息（附注15(c)）23,44422,736
Other items其他项目
Depreciation折旧
— property, plant and equipment (note 10)— 物业、机器及设备（附注10）96,844115,415
— right-of-use assets (note 10)— 使用权资产（附注10）451,294435,002
548,138550,417
Auditors’ remuneration核数师薪酬
— Audit services— 核数服务2,7282,678
— Non-assurance services— 非核证服务9721,961
3,7004,639
Amortisation cost of intangible asset of franchise fee (note 11)特许经营费无形资产的摊销成本 （附注11）203—
Variable lease payments, not included in the measurement of lease liabilities未计入租赁负债计量的可变 租赁付款8,1066,968
Expense relating to leases of low-value assets低价值资产租赁相关开支6,7295,988
Expense relating to short-term leases短期租赁相关开支1,7831,160
Impairment loss on property, plant and equipment, net (note 10)物业、机器及设备减值亏损， 净额（附注10）6,6671,553
Impairment loss on right-of-use assets, net (note 10)使用权资产减值亏损，净额 （附注10）3,4434,409
Cost of food and beverage consumed (note 13)所使用食品及饮料成本（附注13）672,909648,136

Tam Jai International Co. Limited Anual Report 2024/25

Notes to the fiNaNcial statemeNts

财务报表附注

(Expresed in Hong Kong dolars unles otherwise indicated) （除非另外指明，否则以港元列示）

5 除税前溢利

除税前溢利已扣除下列各项：

5 PROFIT BEFORE TAXATION

Profit before taxation is arived at after charging:

(a)

(b)

(c)

2025
二零二五年
$’000
千元
Current tax — Hong Kong Profits Tax即期税项 — 香港利得税
Provision for the year年度拨备30,77640,583
Over-provision in respect of prior years过往年度超额拨备(433)(879)
30,34339,704
Deferred tax递延税项
Origination and reversal of temporary differences (note 18(b))产生及拨回暂时差额 （附注18(b)）(10,015)(6,361)
Income tax expense所得税开支20,32833,343

谭仔国际有限公司 2024/25 年报

Notes to the fiNaNcial statemeNts

财务报表附注

(Expresed in Hong Kong dolars unles otherwise indicated) （除非另外指明，否则以港元列示）

6 综合损益表内的所得税

(a) 综合损益表中的税项指：

截至二零二五年三月三十一日止年度的

香港利得税拨备乃按估计应课税溢利的

16.5%（二零二四年：16.5%）计算，惟本集

团一间合资格实体（「合资格实体」）按利得

税两级制计算。

对于合资格实体，首二百万元应课税溢

利的税率为8.25%，余下应课税溢利则按

16.5%征税。该实体于二零二四年的香港利

得税拨备乃按相同的基准计算。不符合利

得税两级制的本集团香港附属公司的溢利

将继续按16.5%的统一税率征税。

截至二零二五年三月三十一日止年度的香

港利得税拨备已计及香港特区政府对二

零二四╱二五课税年度的应付税项给予的

100%减免，惟每间实体的最高减免额为

1,500元（二零二四年：二零二三╱二四课税

年度获给予的最高减免额为3,000元，并已

于计算截至二零二四年三月三十一日止年

度的拨备时计入该减免额）。

6 INCOME TAX IN THE CONSOLIDATED STATEMENT

OF PROFIT OR LOS

(a) Taxation in the consolidated statement of profit or

los represents:

The provision for Hong Kong Profits Tax for the year ended

31 March 2025 is calculated at 16.5% (2024: 16.5%) of the

estimated asesable profits, except for one qualifying entity (the

“Qualifying Entity”) of the Group that is under the two-tiered

Profits Tax rate regime.

For the Qualifying Entity, the first $2 milion of asesable

profits are taxed at 8.25% and the remaining asesable

profits are taxed at 16.5%. The provision for Hong Kong

Profits Tax for this entity was calculated at the same basis in

2024. The profits of the Group’s subsidiaries in Hong Kong

not qualifying for the two-tiered Profits Tax rate regime wil

continue to be taxed at a flat rate of 16.5%.

The provision for Hong Kong Profits Tax for the year ended

31 March 2025 takes into acount a reduction granted by the

Government of HKSAR of 100% of the tax payable for the

year of asesment 2024/25 subject to a maximum reduction

of $1,500 for each entity (2024: a maximum reduction of $3,000

was granted for the year of asesment 2023/24 and was

taken into acount in calculating the provision for the year

ended 31 March 2024).

2025
二零二五年
$’000
千元
Profit before taxation除税前溢利100,171151,992
Notional tax on profit before taxation, calculated at the rates applicable to profits in the jurisdictions concerned按有关司法权区适用的溢利 税率计算的除税前溢利名义 税项11,02517,384
Tax effect of non-taxable income毋须计税收入的税务影响(7,505)(8,705)
Tax effect of non-deductible expenses不可扣税开支的税务影响2,2485,443
Tax effect of unused tax losses not recognised未确认的未使用税项亏损的 税务影响22,16019,514
Tax effect of temporary differences not recognised未确认的暂时差额的税务影响298516
Recognition of temporary difference previously not recognised确认先前未确认的暂时差额(7,649)(659)
Over-provision in respect of prior years过往年度超额拨备(433)(879)
Statutory tax concession法定税务减免(8)(21)
Others其他192750
Actual tax expense实际税务开支20,32833,343

Tam Jai International Co. Limited Anual Report 2024/25

Notes to the fiNaNcial statemeNts

财务报表附注

(Expresed in Hong Kong dolars unles otherwise indicated) （除非另外指明，否则以港元列示）

6 综合损益表内的所得税（续）

(a) 综合损益表中的税项指：（续）

香港境外附属公司的税款按有关司法

权区现行的适当税率征收。由于本集

团于截至二零二五年及二零二四年

三月三十一日止年度并无由该等附属

公司产生的任何应课税溢利，故并无

于综合财务报表计提香港境外税项

拨备。

(b) 税务开支与按适用税率计算的会计

溢利之间的对账：

6 INCOME TAX IN THE CONSOLIDATED STATEMENT

OF PROFIT OR LOS (Continued)

(a) Taxation in the consolidated statement of profit or

los represents: (Continued)

Taxation for subsidiaries outside Hong Kong is charged at

the apropriate curent rates of taxation ruling in the relevant

jurisdictions. No provision for tax outside Hong Kong has

ben made in the consolidated financial statements as the

Group did not have any asesable profits generated by these

subsidiaries for the years ended 31 March 2025 and 2024.

(b) Reconciliation betwen tax expense and acounting

profit at aplicable tax rates:

Year ended 31 March 2025截至二零二五年 三月三十一日 止年度
Executive directors执行董事
— Mr. Lau Tat Man— 刘达民先生—4,0131,04313832795,476
— Ms. Chan Ping, Rita— 陈萍女士—2,3405273631623,068
— Mr. Yeung Siu Cheong— 杨少昌先生—1,6743773631142,204
Non-executive directors非执行董事
— Mr. Sugiyama Takashi— 杉山孝史先生———————
— Mr. Someya Norifumi— 染谷则史先生———————
— Mr. Hatomoto Toru— 波户本彻先生(iv)———————
— Mr. Tomitani Takeshi— 冨谷武史先生(iv)———————
Independent non-executive directors独立非执行董事
— Mr. Lee Kwok Ming— 李国明先生240—————240
— Mr. Loo Kwok Wing— 卢国荣先生240—————240
— Mr. Yeung Yiu Keung— 杨耀强先生240—————240
7208,0271,947210955511,468
Year ended 31 March 2024截至二零二四年 三月三十一日 止年度
Executive directors执行董事
— Mr. Lau Tat Man— 刘达民先生—3,9801,898138—8416,857
— Ms. Chan Ping, Rita— 陈萍女士—2,3157863614493,587
— Mr. Yeung Siu Cheong— 杨少昌先生—1,35445930—1121,955
— Ms. Lung Man Wai— 龙文慧女士(iv)—3305296—6871
Non-executive directors非执行董事
— Mr. Sugiyama Takashi— 杉山孝史先生———————
— Mr. Someya Norifumi— 染谷则史先生———————
— Mr. Tomitani Takeshi— 冨谷武史先生(iv)———————
Independent non-executive directors独立非执行董事
— Mr. Lee Kwok Ming— 李国明先生240—————240
— Mr. Loo Kwok Wing— 卢国荣先生240—————240
— Mr. Yeung Yiu Keung— 杨耀强先生240—————240
7207,9793,67221011,40813,990

谭仔国际有限公司 2024/25 年报

Notes to the fiNaNcial statemeNts

财务报表附注

(Expresed in Hong Kong dolars unles otherwise indicated) （除非另外指明，否则以港元列示）

7 董事薪酬

根据香港《公司条例》第383(1)条及《公司（披

露董事利益资料）规例》第2部披露的董事薪

酬如下：

7 DIRECTORS’ EMOLUMENTS

Directors’ emoluments disclosed pursuant to section 383(1) of the

Hong Kong Companies Ordinance and Part 2 of the Companies

(Disclosure of Information about Benefits of Directors) Regulation are

as folows:

Directors’

fes

Salaries,

alowances

and benefits

in kind

Discretionary

bonuses

Retirement

scheme

contributions

Long

service

payment

Share-

based

payments

(Note (i)Total

董事袍金

薪金、津贴

及实物福利酌情花红

退休计划

供款

长期

服务金

以股份为

基础的

支付

（附注(i)）总计

Note$’000$’000$’000$’000$’000$’000$’000

附注千元千元千元千元千元千元千元

Tam Jai International Co. Limited Anual Report 2024/25

Notes to the fiNaNcial statemeNts

财务报表附注

(Expresed in Hong Kong dolars unles otherwise indicated) （除非另外指明，否则以港元列示）

7 董事薪酬（续）

附注：

(i) 于截至二零二五年及二零二四年三月三十一日止年

度，本集团并无向董事或下文附注8所载任何五名最

高薪酬人士支付或应付款项作为加入或于加入本集

团时的奖励或作为离职补偿。此外，年内并无董事放

弃或同意放弃任何薪酬的安排。

(i) 董事薪酬总额计入「员工成本」（附注5(a)）。

(i) 指根据本公司股份奖励及购股权计划授予董事的股

份奖励及购股权的估计价值。该等股份奖励及购股权

的价值根据附注1(o)(i)所载本集团的以股份为基础的

支付的会计政策计量。该等股份奖励及购股权的详

情，包括已授奖励及购股权的主要条款及数目，于财

务报表附注25披露。

(iv) 波户本彻先生于二零二四年十二月二十日获委任为

本公司非执行董事。

龙文慧女士于二零二年十一月一日获委任为本公

司执行董事，并于二零二三年五月三十一日辞任。

冨谷武史先生于二零二年六月十日获委任为本公

司非执行董事，并于二零二四年十二月二十日辞任。

7 DIRECTORS’ EMOLUMENTS (Continued)

Notes:

(i) During the years ended 31 March 2025 and 2024 there was no amount paid or payable

by the Group to the directors or any of the five highest paid individuals as set out in note

8 below as an inducement to join or upon joining the Group or as compensation for los

of ofice. In adition, there was no arangement under which a director has waived or

agred to waive any emolument during the years.

(i) Total directors’ emoluments are included in “staf costs” (note 5(a).

(i) These represent the estimated value of share awards and share options granted to

the directors under the Company’s share award and share option schemes. The

value of these share awards and share options is measured acording to the Group’s

acounting policies for share-based payments as set out in note 1(o)(i). The details of

these share awards and share options, including the principal terms and number of

awards and options granted, are disclosed in note 25 to the financial statements.

(iv) Mr. Hatomoto Toru was apointed as non-executive director of the Company on 20

December 2024.

Ms. Lung Man Wai was apointed as executive director of the Company on 1

November 2022 and resigned on 31 May 2023.

Mr. Tomitani Takeshi was apointed as non-executive director of the Company on 10

June 2022 and resigned on 20 December 2024.

2025
二零二五年
$’000
千元
Salaries and other emoluments薪金及其他酬金5,8933,112
Discretionary bonuses酌情花红1,137822
Retirement scheme contributions退休计划供款10870
Long service payment长期服务金81
Share-based payments以股份为基础的支付239233
7,3854,238
2025
二零二五年
Number of individual
人数
$2,000,001—$2,500,0002,000,001元至2,500,000元22
$2,500,001—$3,000,0002,500,001元至3,000,000元1—
32

谭仔国际有限公司 2024/25 年报

Notes to the fiNaNcial statemeNts

财务报表附注

(Expresed in Hong Kong dolars unles otherwise indicated) （除非另外指明，否则以港元列示）

8 最高薪酬人士

五名最高薪酬人士当中，两名（二零二四

年：三名）为董事，其薪酬于附注7披露。其

余三名（二零二四年：两名）人士的薪酬总

额如下：

三名（二零二四年：两名）最高薪酬人士的

薪酬范围如下：

8 INDIVIDUALS WITH HIGHEST EMOLUMENTS

Of the five individuals with the highest emoluments, two (2024:

thre) are directors whose emoluments are disclosed in note 7. The

agregate of the emoluments in respect of the other thre (2024:

two) individuals are as folows:

The emoluments of the thre (2024: two) individuals with the highest

emoluments are within the folowing bands:

2025
二零二五年
’000
千股
Issued ordinary shares at the beginning of the year于年初的已发行普通股1,341,0411,338,638
Effect of shares issued under the Company’s share award scheme根据本公司股份奖励计划 发行股份的影响275873
Effect of share options exercised已行使购股权的影响5352
Weighted average number of ordinary shares at the end of the year于年末的普通股加权平均数1,341,3211,339,863
2025
二零二五年
’000
千股
Weighted average number of ordinary shares at the end of the year used in calculating basic earnings per share计算每股基本盈利使用的年 末普通股加权平均数1,341,3211,339,863
Effect of deemed issue of ordinary shares under the Company’s share award scheme本公司股份奖励计划下视作 发行普通股的影响3,0622,572
Effect of outstanding share options尚未行使购股权的影响88379
Weighted average number of ordinary shares (diluted) at the end of the year年末普通股加权平均数（摊薄）1,344,4711,342,814

Tam Jai International Co. Limited Anual Report 2024/25

Notes to the fiNaNcial statemeNts

财务报表附注

(Expresed in Hong Kong dolars unles otherwise indicated) （除非另外指明，否则以港元列示）

9 每股盈利

(a) 每股基本盈利

每股基本盈利乃根据本公司普通权益

股东应占溢利79,843,000元（二零二

四年：118,649,000元）以及普通股加

权平均数1,341,321,000股（二零二四

年：1,339,863,000股）计算如下：

普通股加权平均数

(b) 每股摊薄盈利

每股摊薄盈利乃根据本公司普通权益

股东应占溢利79,843,000元（二零二

四年：118,649,000元）以及普通股加

权平均数1,344,471,000股（二零二四

年：1,342,814,000股）计算如下：

普通股加权平均数（摊薄）

9 EARNINGS PER SHARE

(a) Basic earnings per share

The calculation of basic earnings per share is based on

the profit atributable to ordinary equity shareholders of the

Company of $79,843,000 (2024: $118,649,000) and the

weighted average number of ordinary shares of 1,341,321,000

shares (2024: 1,339,863,000 shares), calculated as folows:

Weighted average number of ordinary shares

(b) Diluted earnings per share

The calculation of diluted earnings per share is based on

the profit atributable to ordinary equity shareholders of the

Company of $79,843,000 (2024: $118,649,000) and the

weighted average number of ordinary shares of 1,344,471,000

shares (2024: 1,342,814,000 shares), calculated as folows:

Weighted average number of ordinary shares (diluted)

Cost:成本：
At 1 April 2023于二零二三年四月一日1,449,134528,81728,23484,14961,7354,127707,0622,156,196
Additions添置459,12747,1011,8468,8338,580—66,360525,487
Disposals/write-offs出售╱撇销(341,135)(11,990)(2,870)(6,523)(1,889)—(23,272)(364,407)
Exchange adjustment汇兑调整(7,334)(2,799)(86)(357)(118)—(3,360)(10,694)
At 31 March 2024 and 1 April 2024于二零二四年三月三十一日 及二零二四年四月一日1,559,792561,12927,12486,10268,3084,127746,7902,306,582
Addition through acquisition of subsidiaries透过收购附属公司添置11,280—1,28998438—2,31113,591
Additions添置479,83864,3201,76612,04219,697—97,825577,663
Disposals/write-offs出售╱撇销(451,800)(41,120)(2,775)(10,288)(4,505)(4,127)(62,815)(514,615)
Exchange adjustment汇兑调整(1,354)(460)(32)(109)(44)—(645)(1,999)
At 31 March 2025于二零二五年三月三十一日1,597,756583,86927,37288,73183,494—783,4662,381,222
Accumulated depreciation and impairment losses:累计折旧及减值亏损：
At 1 April 2023于二零二三年四月一日680,507363,55018,00153,77124,4753,600463,3971,143,904
Charge for the year年内支出435,00288,9673,42810,59912,236185115,415550,417
Write-back on disposals/ write-offs出售╱撇销时拨回(336,666)(11,290)(2,580)(5,418)(1,343)—(20,631)(357,297)
Impairment loss made减值亏损计提4,4091,553————1,5535,962
Exchange adjustment汇兑调整(2,315)(973)(20)(88)(30)—(1,111)(3,426)
At 31 March 2024 and 1 April 2024于二零二四年三月三十一日 及二零二四年四月一日780,937441,80718,82958,86435,3383,785558,6231,339,560
Charge for the year年内支出451,29470,0113,33010,56212,75618596,844548,138
Write-back on disposals/ write-offs出售╱撇销时拨回(423,390)(37,623)(1,743)(6,604)(3,174)(3,970)(53,114)(476,504)
Impairment loss made减值亏损计提3,4435,68883537359—6,66710,110
Exchange adjustment汇兑调整(802)(371)(14)(52)(29)—(466)(1,268)
At 31 March 2025于二零二五年三月三十一日811,482479,51220,48563,30745,250—608,5541,420,036
Net book value:账面净值:
At 31 March 2025于二零二五年三月三十一日786,274104,3576,88725,42438,244—174,912961,186
At 31 March 2024于二零二四年三月三十一日778,855119,3228,29527,23832,970342188,167967,022

谭仔国际有限公司 2024/25 年报

Notes to the fiNaNcial statemeNts

财务报表附注

(Expresed in Hong Kong dolars unles otherwise indicated) （除非另外指明，否则以港元列示）

10 物业、机器及设备及使用权资产10 PROPERTY, PLANT AND EQUIPMENT AND RIGHT-

OF-USE ASETS

Property, plant and equipment

物业、机器及设备

Right-

of-use

asets

Leasehold

improvements

Furniture

and

fixtures

Machinery

and

equipment

Computer

equipment

Motor

vehiclesSub-totalTotal

使用权

资产

租赁物业

装修

家私及

固定装置机器及设备电脑设备汽车小计总计

$’000$’000$’000$’000$’000$’000$’000$’000

千元千元千元千元千元千元千元千元

Tam Jai International Co. Limited Anual Report 2024/25

Notes to the fiNaNcial statemeNts

财务报表附注

(Expresed in Hong Kong dolars unles otherwise indicated) （除非另外指明，否则以港元列示）

10 物业、机器及设备及使用权资产（续）

截至二零二五年及二零二四年三月三十

一日止年度，管理层已识别表现欠佳的餐

厅，并估计该等餐厅的使用权资产及物

业、机器及设备的可收回金额。

根据管理层的评估，于截至二零二五年三

月三十一日止年度，已就若干餐厅的使用

权资产及物业、机器及设备分别确认减值

亏损3,443,000元（二零二四年：4,409,000

元）及6,667,000元（二零二四年：1,553,000

元）。于二零二五年三月三十一日，该等餐

厅根据其使用价值的可收回金额总额（扣

除有关租赁负债）为1,184,000元（二零二四

年：4,472,000元）。估计可收回金额乃根据

该等使用权资产及物业、机器及设备以税

前贴现率介乎8.58%至11.24%（二零二四

年：8.03%至14.08%）厘定的使用价值。

截至二零二五年三月三十一日止年度，使

用权资产及物业、机器及设备账面值减值

亏损拨备净额3,443,000元（二零二四年：

4,409,000元）及6,667,000元（二零二四年：

1,553,000元）分别于「其他开支」（附注5(c)）

内确认。

10 PROPERTY, PLANT AND EQUIPMENT AND RIGHT-

OF-USE ASETS (Continued)

During the years ended 31 March 2025 and 2024, management

identified restaurants which were under-performed and estimated

the recoverable amounts of the right-of-use asets and property,

plant and equipment of these restaurants.

Based on management’s asesment, impairment loses of

$3,443,000 (2024: $4,409,000) and $6,667,000 (2024: $1,553,000)

were recognised on right-of-use asets and property, plant and

equipment of certain restaurants respectively for the year ended

31 March 2025. The agregated recoverable amounts of these

restaurants based on their value in use net of relevant lease liabilities

amounted to $1,184,000 as at 31 March 2025 (2024: $4,472,000).

The estimate of recoverable amounts were based on the value in

use of these right-of-use asets and property, plant and equipment,

determined using pre-tax discount rates ranging from 8.58% to

11.24% (2024: 8.03% to 14.08%).

For the year ended 31 March 2025, the net provision of impairment

loses of $3,443,000 (2024: $4,409,000) and $6,667,000 (2024:

$1,553,000) on the carying amounts of the right-of-use asets and

property, plant and equipment were recognised in “other expenses”

(note 5(c) respectively.

2025
二零二五年
$’000
千元
Properties leased for own use, carried at depreciated cost (Note)自用租赁物业，按折旧成本 列账（附注）786,274778,855

谭仔国际有限公司 2024/25 年报

Notes to the fiNaNcial statemeNts

财务报表附注

(Expresed in Hong Kong dolars unles otherwise indicated) （除非另外指明，否则以港元列示）

10 物业、机器及设备及使用权资产（续）

(a) 使用权资产

按相关资产类别划分的使用权资产账

面净值分析如下：

年内，使用权资产添置为491,118,000

元（二零二四年：459,127,000元）。该

款项主要与根据新租赁协议应付的已

资本化租赁付款、租赁修改及收购附

属公司相关。

租赁现金流出总额和租赁负债的到

期日分析详情分别载于附注15(d)及

26(b)。

附注： 租赁作自用的物业

本集团通过租赁协议取得使用物业作为其餐

厅、中央厨房、办公室及仓库的权利。租赁

的初始租期一般为一至十年。租赁付款通常

会于续期时调整，以反映市场租金水平。若

干租赁包含续期及终止选择权及基于餐厅所

产生的销售额的可变租赁付款，以及固定的

最低年租付款条款。该等付款条款对本集团

经营所在地香港、中国内地、新加坡及日本

的餐厅而言属常见。

10 PROPERTY, PLANT AND EQUIPMENT AND RIGHT-

OF-USE ASETS (Continued)

(a) Right-of-use asets

The analysis of the net bok value of right-of-use asets by

clas of underlying aset is as folows:

During the year, aditions to right-of-use asets were

$491,118,000 (2024: $459,127,000). The amount was

primarily related to the capitalised lease payments payable

under new tenancy agrements, lease modifications and

acquisition of subsidiaries.

Details of total cash outflow for leases and the maturity

analysis of lease liabilities are set out in notes 15(d) and 26(b),

respectively.

Note: Properties leased for own use

The Group has obtained the right to use properties as its restaurants, central

kitchens, ofices and warehouses through tenancy agrements. The leases

typicaly run for an initial period of one to ten years. Lease payments are usualy

adjusted upon renewal to reflect market rentals. There are certain leases that

include extension and termination options and variable lease payments that

are based on sales generated from the restaurants and minimum anual lease

payment terms that are fixed. These payment terms are comon in restaurants

in Hong Kong, Mainland China, Singapore and Japan where the Group

operates.

Cost:成本：
At 1 April 2024于二零二四年四月一日—
Addition through acquisition of subsidiaries透过收购附属公司添置4,870
At 31 March 2025于二零二五年三月三十一日4,870
Accumulated amortisation:累计摊销：
At 1 April 2024于二零二四年四月一日—
Charge for the year年内支出203
At 31 March 2025于二零二五年三月三十一日203
Net book value:账面净值：
At 31 March 2025于二零二五年三月三十一日4,667
Cost:成本：
At 1 April 2024于二零二四年四月一日—
Addition through acquisition of subsidiaries透过收购附属公司添置274
At 31 March 2025于二零二五年三月三十一日274

Tam Jai International Co. Limited Anual Report 2024/25

Notes to the fiNaNcial statemeNts

财务报表附注

(Expresed in Hong Kong dolars unles otherwise indicated) （除非另外指明，否则以港元列示）

11 无形资产

12 商誉

11 INTANGIBLE ASET

Franchise

right

特许经营权

$’000

千元

12 GODWIL

$’000

千元

2025
二零二五年
$’000
千元
Carrying amount of inventories sold (note 5(c))已售存货账面值（附注5(c)）672,909648,136
2025
二零二五年
$’000
千元
Trade receivables, net of loss allowance贸易应收款项，扣除亏损拨备37,31435,011
Other receivables其他应收款项12,55111,330
Trade and other receivables贸易及其他应收款项49,86546,341
Deposits按金172,086160,670
Prepayments预付款项35,28232,552
257,233239,563
Represented by:代表：
Non-current portion非流动部分104,983114,823
Current portion流动部分152,250124,740
257,233239,563

谭仔国际有限公司 2024/25 年报

Notes to the fiNaNcial statemeNts

财务报表附注

(Expresed in Hong Kong dolars unles otherwise indicated) （除非另外指明，否则以港元列示）

13 存货

综合财务状况表内的存货指食品及饮料。

确认为开支及计入综合损益表内的存货金

额分析如下：

14 贸易及其他应收款项及按金及预付

款项

本集团预期将于一年后收回或确认为开支

的按金指租赁按金104,983,000元（二零二四

年：114,823,000元）。所有其他贸易及其他

应收款项、按金及预付款项预期将于一年

内收回或确认为开支。

13 INVENTORIES

Inventories in the consolidated statement of financial position

represent fod and beverages.

The analysis of the amount of inventories recognised as an expense

and included in the consolidated statement of profit or los is as

folows:

14 TRADE AND OTHER RECEIVABLES AND DEPOSITS

AND PREPAYMENTS

The amount of the Group’s deposits expected to be recovered or

recognised as expense after more than one year are rental deposits

of $104,983,000 (2024: $114,823,000). Al of the other trade and

other receivables, deposits and prepayments are expected to be

recovered or recognised as expense within one year.

2025
二零二五年
$’000
千元
Less than 30 days少于30天36,47334,621
31 to 60 days31至60天67386
61 to 90 days61至90天2504
91 to 120 days91至120天3—
Over 120 days120天以上521—
37,31435,011
2025
二零二五年
$’000
千元
Cast at bank and on hand in the consolidated statement of financial position综合财务状况表内的银行及 手头现金1,327,7111,351,523

Tam Jai International Co. Limited Anual Report 2024/25

Notes to the fiNaNcial statemeNts

财务报表附注

(Expresed in Hong Kong dolars unles otherwise indicated) （除非另外指明，否则以港元列示）

14 贸易及其他应收款项及按金及预付

款项（续）

账龄分析

于报告期末，贸易应收款项根据发票日期

及扣除亏损拨备后的账龄分析如下：

本集团与其客户的交易条款主要为现金及

信用卡支付，除非为知名企业债务人，则

信贷期通常为30天。有关本集团的信贷政

策及源于贸易应收款项及按金的信贷风险

的更多详情载于附注26(a)。

于二零二五年及二零二四年三月三十一

日，贸易应收款项的亏损拨备不重大。

15 现金及银行结余及其他现金流量

资料

(a) 现金及银行结余包括：

14 TRADE AND OTHER RECEIVABLES AND DEPOSITS

AND PREPAYMENTS (Continued)

Ageing analysis

As of the end of the reporting period, the ageing analysis of trade

receivables, based on the invoice date and net of los alowance, is

as folows:

The Group’s trading terms with its customers are mainly on cash

and smart card setlement, except for wel-established corporate

debtors for which the credit term is generaly 30 days. Further

details on the Group’s credit policy and credit risk arising from trade

receivables and deposits are set out in note 26(a).

The los alowance of trade receivables as at 31 March 2025 and

2024 was insignificant.

15 CASH AND BANK BALANCES AND OTHER CASH

FLOW INFORMATION

(a) Cash and bank balances comprise:

2025
二零二五年
$’000
千元
Operating activities经营活动
Profit before taxation除税前溢利100,171151,992
Adjustments for:调整：
Depreciation折旧5(c)548,138550,417
Amortisation — franchise fee摊销 — 特许经营费5(c)203—
Bank interest income银行利息收入4(43,175)(44,085)
Finance costs融资成本5(b)23,44422,736
Gain on early termination of leases, net提前终止租赁的 收益，净额4(4,072)(987)
Loss on disposal of property, plant and equipment, net出售物业、机器及设备 的亏损，净额49,2842,620
Share of loss of a joint venture分占一间合营公司亏损390—
Impairment loss on property, plant and equipment made, net物业、机器及设备减值 亏损，净额5(c)6,6671,553
Impairment loss on right-of-use assets made, net使用权资产减值亏损， 净额5(c)3,4434,409
Share-based payments以股份为基础的支付5(a)2,6943,846
Net foreign exchange gain汇兑收益净额(1,132)(942)
646,055691,559
Changes in working capital:营运资金变动：
Decrease/(increase) in inventories存货减少╱（增加）3,973(1,686)
Increase in trade and other receivables贸易及其他应收款项 增加(2,882)(18,461)
Increase in deposits and prepayments按金及预付款项增加(9,960)(9,643)
Increase/(decrease) in trade and other payables and accruals贸易及其他应付款项 及应计费用增加╱ （减少）5,402(11,528)
Decrease in provision for unused annual leave未使用年假拨备减少19(a)(4,426)(207)
Utilisation of provision for reinstatement costs动用复原成本拨备19(b)(3,659)(1,331)
Increase in long service payment obligation长期服务金责任增加201,8773,445
Cash generated from operations营运所得现金636,380652,148

谭仔国际有限公司 2024/25 年报

Notes to the fiNaNcial statemeNts

财务报表附注

(Expresed in Hong Kong dolars unles otherwise indicated) （除非另外指明，否则以港元列示）

15 现金及银行结余及其他现金流量

资料（续）

(b) 除税前溢利与营运所得现金的

对账：

15 CASH AND BANK BALANCES AND OTHER CASH

FLOW INFORMATION (Continued)

(b) Reconciliation of profit before taxation to cash

generated from operations:

2025
二零二五年
$’000
千元
At the beginning of the year于年初803,451787,802
Changes from financing cash flows:融资现金流量变动：
Capital element of lease rentals paid已付租赁租金的资本部分(444,717)(422,434)
Interest element of lease rentals paid已付租赁租金的利息部分(23,444)(22,736)
Total changes from financing cash flows融资现金流量变动总额(468,161)(445,170)
Other changes:其他变动：
Increase in lease liabilities from entering into new leases and lease modifications during the year年内订立新租赁及租赁修改 所产生的租赁负债增加467,713448,700
Addition through acquisition of subsidiaries透过收购附属公司添置11,281—
Early termination of leases提前终止租赁(32,481)(5,527)
Interest expenses (note 5(b))利息开支（附注5(b)）23,44422,736
Exchange adjustment汇兑调整(689)(5,090)
Total other changes其他变动总额469,268460,819
At the end of the year于年末804,558803,451

Tam Jai International Co. Limited Anual Report 2024/25

Notes to the fiNaNcial statemeNts

财务报表附注

(Expresed in Hong Kong dolars unles otherwise indicated) （除非另外指明，否则以港元列示）

15 现金及银行结余及其他现金流量

资料（续）

(c) 源于融资活动的负债对账

下表详列本集团源于融资活动的负债

变动，包括现金及非现金变动。源于

融资活动的负债指现金流量或未来现

金流量将会于本集团综合现金流量表

内分类为融资活动所产生现金流量的

负债。

租赁负债

15 CASH AND BANK BALANCES AND OTHER CASH

FLOW INFORMATION (Continued)

(c) Reconciliation of liabilities arising from financing

activities

The table below details changes in the Group’s liabilities

from financing activities, including both cash and non-

cash changes. Liabilities arising from financing activities are

liabilities for which cash flows were, or future cash flows wil

be, clasified in the Group’s consolidated cash flow statement

as cash flows from financing activities.

Lease liabilities

2025
二零二五年
$’000
千元
Within operating cash flows计入经营现金流量16,61814,116
Within financing cash flows计入融资现金流量468,161445,170
484,779459,286
2025
二零二五年
$’000
千元
Total consideration paid in cash以现金支付的总代价4,100
Fair value of each identifiable asset and liability:各项可识别资产与负债的公允价值：
Add:加：
Property, plant and equipment物业、机器及设备2,311
Right-of-use assets使用权资产11,280
Intangible asset无形资产4,870
Inventories存货281
Trade and other receivables贸易及其他应收款项642
Deposits and prepayments按金及预付款项8,098
Cash and bank balances现金及银行结余7,002

谭仔国际有限公司 2024/25 年报

Notes to the fiNaNcial statemeNts

财务报表附注

(Expresed in Hong Kong dolars unles otherwise indicated) （除非另外指明，否则以港元列示）

15 现金及银行结余及其他现金流量

资料（续）

(d) 租赁现金流出总额

综合现金流量表内已付租赁租金的金

额包括以下：

(e) 因收购附属公司所产生的现金流入

净额

于二零二四年十一月八日，本集团以

总代价4,100,000元（须根据收购协议

所订明的若干调整进行调整）收购丸

龟制面（香港）有限公司以及东利多和

颐控股有限公司100%股权。该等公

司之主要业务为在香港经营餐厅及从

事投资控股。就此交易，本集团确认

了274,000元的商誉净额。

15 CASH AND BANK BALANCES AND OTHER CASH

FLOW INFORMATION (Continued)

(d) Total cash outflow for leases

Amounts included in the consolidated cash flow statement for

lease rentals paid comprise the folowing:

(e) Net cash inflow arising from the acquisition of a

subsidiary

On 8 November 2024, the Group acquired 100% of equity

interest in Marugame (HK) Limited and Toridol and Heyi

Holding Limited, whose principal activities are operation

of restaurants and investment holding in Hong Kong, at

a total consideration of HK$4,100,000, subject to certain

adjustments as defined in the acquisition agrement. As such,

a net godwil of HK$274,000 was recognised.

2025
二零二五年
$’000
千元
Less:减：
Amount due to fellow subsidiaries应付同系附属公司款项(8,466)
Trade and other payables贸易及其他应付款项(7,345)
Lease liabilities租赁负债(11,281)
Provision for unused annual leave未使用年假拨备(203)
Provision for reinstatement costs复原成本拨备(1,924)
Long service payment obligation长期服务金责任(564)
Deferred tax liabilities递延税项负债(875)
Net identified assets acquired所收购的已识别资产净额3,826
Goodwill商誉274
Cash consideration现金代价(4,100)
Add: cash and cash equivalents acquired加：收购所得之现金及现金等价物7,002
Net cash inflow from investing activities来自投资活动的现金流入净额2,902

Tam Jai International Co. Limited Anual Report 2024/25

Notes to the fiNaNcial statemeNts

财务报表附注

(Expresed in Hong Kong dolars unles otherwise indicated) （除非另外指明，否则以港元列示）

15 现金及银行结余及其他现金流量

资料（续）

(e) 因收购附属公司所产生的现金流入

净额（续）

(f) 主要非现金交易

截至二零二四年三月三十一日止年

度，本集团就合营公司权益作出非现

金增资4,988,000元（附注16）（二零二

五年：零元）。

15 CASH AND BANK BALANCES AND OTHER CASH

FLOW INFORMATION (Continued)

(e) Net cash inflow arising from the acquisition of a

subsidiary (Continued)

(f) Major non-cash transaction

During the year ended 31 March 2024, the Group had non-

cash aditions to interest in a joint venture of $4,988,000 (note

16) (2025: nil).

2025
二零二五年
$’000
千元
Trade payables贸易应付款项56,39857,012
Other payables and accruals其他应付款项及应计费用181,501169,975
Contract liabilities合约负债11,1534,657
Trade and other payables and accruals贸易及其他应付款项及应计费用249,052231,644
Deposits received已收按金200200
249,252231,844

谭仔国际有限公司 2024/25 年报

Notes to the fiNaNcial statemeNts

财务报表附注

(Expresed in Hong Kong dolars unles otherwise indicated) （除非另外指明，否则以港元列示）

16 贸易及其他应付款项及应计费用及

已收按金

所有贸易及其他应付款项及应计费用及已

收按金预期将结付或确认为收益或须按要

求偿还。

本集团其他应付款项及应计费用的金额

包括应付最终控股公司、直接控股公司

及合营公司的款项分别1,569,000元（二零

二四年：413,000元）、21,000元（二零二四

年：零元）及1,183,000元（二零二四年：

4,988,000），属非贸易性质、无抵押、免息

及须按要求偿还。

本集团贸易及其他应付款项及应计费用金

额包括合约负债11,153,000元（二零二四

年：4,657,000元）。本集团经营一项会员计

划，顾客可就消费累积奖赏积分，于日后

消费时可享有折扣。有关收益于奖赏积分

兑现或奖赏积分到期时确认。截至二零二

五年及二零二四年三月三十一日止年度赚

取的奖赏积分别于二零二六年三月三十

一日及二零二五年三月三十一日到期。此

外，本集团于顾客购买餐厅优惠券时即时

收取代价。有关收益于顾客向餐厅兑现优

惠券作未来销售时或优惠券到期时确认。

16 TRADE AND OTHER PAYABLES AND ACRUALS

AND DEPOSITS RECEIVED

Al of the trade and other payables and acruals and deposits

received are expected to be setled or recognised as income or are

repayable on demand.

Included in the amount of the Group’s other payables and acruals

are amounts due to ultimate holding company of $1,569,000 (2024:

$413,000), amounts due to imediate holding company of $21,000

(2024: $Nil) and a joint venture of $1,183,000 (2024: $4,988,000),

which are non-trade in nature, unsecured, interest-fre and

repayable on demand.

Included in the amount of the Group’s trade and other payables and

acruals are contract liabilities of $11,153,000 (2024: $4,657,000).

The Group operates a loyalty programe where customers

acumulate reward points for purchases made which entitle them to

discount on future purchases. The respective revenue is recognised

when the reward points are redemed or when the reward points

expire. Reward points earned during the years ended 31 March

2025 and 31 March 2024 expire by 31 March 2026 and 31 March

2025 respectively. In adition, the Group receives consideration

when customers purchase coupons from restaurants at the time of

purchase. The respective revenue is recognised when the coupons

are redemed for future sales by customers from restaurants or

when the coupons expire.

2025
二零二五年
$’000
千元
Less than 30 days少于30天55,22256,545
31 to 60 days31至60天1,022184
61 to 90 days61至90天4241
91 to 120 days91至120天—110
Over 120 days120天以上112132
56,39857,012
2025
二零二五年
$’000
千元
Within 1 year一年内374,753377,829
After 1 year but within 2 years一年后但两年内243,737240,154
After 2 years but within 5 years两年后但五年内179,107163,524
After 5 years五年后6,96121,944
429,805425,622
804,558803,451

Tam Jai International Co. Limited Anual Report 2024/25

Notes to the fiNaNcial statemeNts

财务报表附注

(Expresed in Hong Kong dolars unles otherwise indicated) （除非另外指明，否则以港元列示）

16 贸易及其他应付款项及应计费用及

已收按金（续）

账龄分析

于报告期末，贸易应付款项根据发票日期

的账龄分析如下：

17 租赁负债

于二零二五年三月三十一日，应偿还的租

赁负债如下：

16 TRADE AND OTHER PAYABLES AND ACRUALS

AND DEPOSITS RECEIVED (Continued)

Ageing analysis

As of the end of the reporting period, the ageing analysis of trade

payables, based on the invoice date, is as folows:

17 LEASE LIABILITIES

At 31 March 2025, lease liabilities were repayable as folows:

2025
二零二五年
$’000
千元
Provision for Hong Kong Profits Tax for the year年内香港利得税拨备30,77640,583
Provisional Profits Tax paid已付暂缴利得税(35,323)(39,121)
(4,547)1,462
Balance of Profits Tax provision relating to prior years过往年度的利得税拨备结余(3,430)(123)
(7,977)1,339
Represented by:代表：
Current tax recoverable可收回即期税项(10,322)(5,508)
Current tax payable应付即期税项2,3456,847
(7,977)1,339

谭仔国际有限公司 2024/25 年报

Notes to the fiNaNcial statemeNts

财务报表附注

(Expresed in Hong Kong dolars unles otherwise indicated) （除非另外指明，否则以港元列示）

18 综合财务状况表中的所得税

(a) 综合财务状况表中的即期税项指：

18 INCOME TAX IN THE CONSOLIDATED STATEMENT

OF FINANCIAL POSITION

(a) Curent taxation in the consolidated statement of

financial position represents:

Deferred tax arising from:源自以下各项的递延税项：
At 1 April 2023于二零二三年四月一日(16,306)(3,746)(20,052)
Credited to profit or loss计入损益(6,361)—(6,361)
Exchange adjustment汇兑调整—105105
At 31 March 2024 and 1 April 2024于二零二四年三月三十一日 及二零二四年四月一日(22,667)(3,641)(26,308)
Addition through acquisition of subsidiaries透过收购附属公司添置875—875
Credited to profit or loss计入损益(10,015)—(10,015)
Exchange adjustment汇兑调整—5252
At 31 March 2025于二零二五年三月三十一日(31,807)(3,589)(35,396)
2025
二零二五年
$’000
千元
Deferred tax assets递延税项资产(40,480)(29,458)
Deferred tax liabilities递延税项负债5,0843,150
(35,396)(26,308)

Tam Jai International Co. Limited Anual Report 2024/25

Notes to the fiNaNcial statemeNts

财务报表附注

(Expresed in Hong Kong dolars unles otherwise indicated) （除非另外指明，否则以港元列示）

18 综合财务状况表中的所得税（续）

(b) 已确认递延税项（资产）╱负债：

于年内综合财务状况表内已确认递

延税项（资产）╱负债组成部分及变动

如下：

当存在可依法强制执行的权利进行抵销及

当递延所得税与相同的税务司法权区及相

同的应课税实体相关时，递延税项资产与

负债予以抵销。进行适当的抵销后得出的

下列金额载列于综合财务状况表内：

18 INCOME TAX IN THE CONSOLIDATED STATEMENT

OF FINANCIAL POSITION (Continued)

(b) Defered tax (asets)/liabilities recognised:

The components of defered tax (asets)/liabilities recognised

in the consolidated statement of financial position and the

movements during the year are as folows:

Depreciation in

exces of

the related

depreciation

alowances

Unused

tax losesTotal

折旧超出

相关折旧拨备

未使用

税项亏损总计

$’000$’000$’000

千元千元千元

Defered tax asets and liabilities are ofset when there is

a legaly enforceable right to set of and when the defered

income taxes relate to the same tax jurisdiction and the

same taxable entity. The folowing amounts, determined

after apropriate ofseting, are shown in the consolidated

statement of financial position:

2025
二零二五年
$’000
千元
Provision for unused annual leave (note (a))未使用年假拨备（附注(a)）7,30211,525
Provision for reinstatement costs (note (b))复原成本拨备（附注(b)）72,44566,015
79,74777,540
Less: Amount included under “current liabilities”减：计入「流动负债」的金额(27,478)(29,758)
52,26947,782

谭仔国际有限公司 2024/25 年报

Notes to the fiNaNcial statemeNts

财务报表附注

(Expresed in Hong Kong dolars unles otherwise indicated) （除非另外指明，否则以港元列示）

18 综合财务状况表中的所得税（续）

(c) 未确认递延税项资产：

根据附注1(p)所载会计政策，本集团

尚未就累计税项亏损321,606,000元

（二零二四年：181,469,000元）及其他

可扣减暂时差额18,612,000元（二零二

四年：15,968,000元）确认递延税项资

产，因为于有关税务司法权区及实体

不大可能有亏损可用于抵销未来应课

税溢利。

未确认累计税项亏损包括金额

124,394,000元（二零二四年：

79,117,000元），可自亏损产生

年度起计结转最多五年，以及金

额58,391,000元（二零二四年：

44,487,000元），可自亏损产生年度起

计结转最多十年。余额138,821,000元

（二零二四年：57,865,000元）根据现

行税务法例并无期限。

19 拨备

18 INCOME TAX IN THE CONSOLIDATED STATEMENT

OF FINANCIAL POSITION (Continued)

(c) Defered tax asets not recognised:

In acordance with the acounting policy set out in note 1(p),

the Group has not recognised defered tax asets in respect

of cumulative tax loses of $321,606,000 (2024: $181,469,000)

and other deductible temporary diferences of $18,612,000 (2024:

$15,968,000) as it is not probable that future taxable profits

against which the loses can be utilised wil be available in the

relevant tax jurisdiction and entity.

Included in the unrecognised cumulative tax loses are an

amount of $124,394,000 (2024: $79,117,000) which can be

caried forward for up to five years from the year in which the

los originated and an amount of $58,391,000 (2024: $44,487,000)

which can be caried forward for up to ten years from the

year in which the los originated. The remaining balance of

$138,821,000 (2024: $57,865,000) does not expire under

curent tax legislation.

19 PROVISIONS

2025
二零二五年
$’000
千元
At the beginning of the year于年初11,52511,732
Addition through acquisition of subsidiaries透过收购附属公司添置203—
Provision made已计提拨备7,30311,525
Utilisation动用(11,728)(11,731)
Exchange adjustment汇兑调整(1)(1)
At the end of the year于年末7,30211,525
2025
二零二五年
$’000
千元
At the beginning of the year于年初66,01560,739
Addition through acquisition of subsidiaries透过收购附属公司添置1,924—
Additions添置8,2066,973
Provision reversed已拨回拨备(2)(79)
Utilisation动用(3,659)(1,331)
Exchange adjustment汇兑调整(39)(287)
At the end of the year于年末72,44566,015

Tam Jai International Co. Limited Anual Report 2024/25

Notes to the fiNaNcial statemeNts

财务报表附注

(Expresed in Hong Kong dolars unles otherwise indicated) （除非另外指明，否则以港元列示）

19 拨备（续）

(a) 未使用年假拨备

雇员年假权利于雇员应得时确认。如有合

约责任或过往惯例产生推定责任，则就截

至报告期末因雇员提供服务而产生的雇员

年假权利的估计负债作出拨备。该金额可

结转至下一年度，但超过一年后将失效。

所有金额预计将在一年内动用。

(b) 复原成本拨备

根据与业主签立的租赁协议条款，本集团

须于相关租赁协议届满时拆除及复原租赁

场所，费用由本集团承担，因此已就将产

生的预期复原成本的最佳估计作出拨备。

于二零二五年三月三十一日，预期将于一

年内动用的金额为20,176,000元（二零二四

年：18,233,000元）。

19 PROVISIONS (Continued)

(a) Provision for unused anual leave

Employe entitlements to anual leave are recognised

when they acrue to employes. A provision is made for the

estimated liability for employe anual leave entitlements as

a result of services rendered by employes up to the end of

the reporting period, where there is a contractual obligation

or past practice has created a constructive obligation. The

amount can be caried forward for next year but wil be lapsed

after more than one year. Al of the amount is expected to be

utilised within one year.

(b) Provision for reinstatement costs

Under the terms of tenancy agrements signed with landlords,

the Group shal remove and reinstate the leased premises

at the Group’s cost upon expiry of the relevant tenancy

agrements. Provision is therefore made for the best estimate

of the expected reinstatement costs to be incured. As at 31

March 2025, the amount expected to be utilised within one

year is $20,176,000 (2024: $18,233,000).

谭仔国际有限公司 2024/25 年报

Notes to the fiNaNcial statemeNts

财务报表附注

(Expresed in Hong Kong dolars unles otherwise indicated) （除非另外指明，否则以港元列示）

20 长期服务金责任

在若干情况下，连续受雇满五年的香港雇

员有权根据香港雇佣条例领取长期服务金

（「长期服务金」），其中包括雇员因严重不

当行为或裁员以外的原因被解雇、雇员年

届65岁或以上时辞职或雇佣合约的期限固

定而未有于到期时续约。应付长期服务金

金额乃参考雇员的最终薪金（上限为22,500

元）及服务年期，扣除本集团向强积金计

划供款所产生累算权益金额（附注21）而

厘定，整体上限为每名雇员390,000元。目

前，本集团并无就履行长期服务金责任订

立任何个别融资安排。

于二零二年六月，政府在宪报刊登修订

条例，废除雇主使用其强积金计划中的强

制性供款扣减应付香港雇员的长期服务金

的法定权利。政府其后宣布修订条例将自

转制日起生效。于二零二四年十一月，政

府批准推行一项为期25年的计划，向雇主

就长期服务金转制后部分的相关成本提供

补贴（「补贴」）。

其中，抵销机制一经废除，雇主不可再使

用其强制性强积金供款（不论于转制日之

前、当日或之后作出）所产生的任何累算权

益，扣减就雇员自转制日起所提供服务应

付的长期服务金。然而，若雇员于转制日

之前开始受雇，雇主可继续使用上述累算

权益扣减雇员截至该日为止所提供服务的

长期服务金。此外，就转制日前所提供服

务应付的长期服务金将根据紧接转制日前

的雇员月薪及截至该日的服务年期计算。

本集团已针对抵销机制及其废除进行会计

处理，详情于附注1(o)(i)披露。并根据附注

1(r)(i)，将该补贴视为政府补助入账。

截至二零二五年三月三十一日，由于本集

团未有合理保证能符合补贴所附带的条件

及将会收到该补贴，故本集团并未于其综

合财务报表中确认与该补贴相关的应收

款项。

20 LONG SERVICE PAYMENT OBLIGATION

Hong Kong employes that have ben employed continuously for

at least five years are entitled to long service payments (“LSP”) in

acordance with the Hong Kong Employment Ordinance under

certain circumstances. These circumstances include where an

employe is dismised for reasons other than serious misconduct or

redundancy, that employe resigns at the age of 65 or above, or the

employment contract is of fixed term and expires without renewal.

The amount of LSP payable is determined with reference to the

employe’s final salary (caped at $22,500) and the years of service,

reduced by the amount of any acrued benefits derived from the

Group’s contributions to MPF scheme (note 21), with an overal cap

of $390,000 per employe. Curently, the Group does not have any

separate funding arangement in place to met its LSP obligation.

In June 2022, the Government gazeted the Amendment Ordinance,

which wil eventualy abolish the statutory right of an employer to

reduce its LSP payable to a Hong Kong employe by drawing on

its mandatory contributions to the MPF scheme. The Government

has subsequently anounced that the Amendment Ordinance wil

come into efect from the Transition Date. In November 2024, the

Government aproved the comitment for the implementation of

a 25-year scheme to provide a subsidy (“Subsidy”) for employers’

costs in relation to the post-transition portion of the LSP.

Among other things, once the abolition of the ofseting mechanism

takes efect, an employer can no longer use any of the acrued

benefits derived from its mandatory MPF contributions (irespective

of the contributions made before, on or after the Transition Date)

to reduce the LSP in respect of an employe’s service from the

Transition Date. However, where an employe’s employment

comenced before the Transition Date, the employer can continue

to use the above acrued benefits to reduce the LSP in respect

of the employe’s service up to that date; in adition, the LSP in

respect of the service before the Transition Date wil be calculated

based on the employe’s monthly salary imediately before the

Transition Date and the years of service up to that date.

The Group has acounted for the ofseting mechanism and its

abolition as disclosed in note 1(o)(i) and the Subsidy as government

grants in acordance with note 1(r)(i).

As of 31 March 2025, the Group has not recognised a receivable

related to the Subsidy in its consolidated financial statements as

there is no reasonable asurance that the Group wil comply with the

conditions atached to the Subsidy and the Subsidy wil be received.

2025
二零二五年
$’000
千元
At the beginning of the year于年初14,59115,493
Addition through acquisition of subsidiaries透过收购附属公司添置564—
Remeasurements recognised in other comprehensive income:于其他全面收益确认重新计量：
— Actuarial gains arising from changes in demographic assumptions— 人口假设变动引致的精算收益(2,475)(6,400)
— Actuarial losses arising from changes in financial assumptions— 财务假设变动引致的精算亏损66159
— Actuarial losses arising from changes in experience— 经验变动引致的精算亏损1,6671,894
(742)(4,347)
Expenses recognised in profit or loss:于损益确认开支：
Current service cost即期服务成本3,1244,015
Interest cost利息成本499588
Benefits paid directly by the employer雇主直接支付的福利(1,746)(1,158)
1,8773,445
At the end of the year于年末16,29014,591
2025
二零二五年
Discount rate折现率3.3%3.5%
Future salary increases未来薪金增幅3.0%4.0%
Expected investment return on offsettable MPF accrued benefits可抵销强积金累算权益的预期投资 回报率4.0%4.0%

Tam Jai International Co. Limited Anual Report 2024/25

Notes to the fiNaNcial statemeNts

财务报表附注

(Expresed in Hong Kong dolars unles otherwise indicated) （除非另外指明，否则以港元列示）

20 长期服务金责任（续）

未供款责任的现值及其变动如下：

定额福利责任的加权平均期限为5.8年（二

零二四年：6.6年）

精算假设（以加权平均值表示）如下：

本集团的长期服务金责任对该等精算假设

并不敏感，故未有呈列敏感度分析。

20 LONG SERVICE PAYMENT OBLIGATION (Continued)

The present value of unfunded obligations and its movements are as

folows:

The weighted average duration of the defined benefit obligation is 5.8

years (2024: 6.6 years).

Actuarial asumptions (expresed as weighted averages) are as

folows:

The Group’s LSP obligations are not sensitive to these actuarial

asumptions, thus a sensitivity analysis is not presented.

Jointed-Heart LimitedHong KongHK$10,000100%Operation of restaurants
同心饮食有限公司香港10,000港元100%经营餐厅
Vennic LimitedHong KongHK$41,600,402100%Operation of restaurants
群顺有限公司香港41,600,402港元100%经营餐厅
TJI Global Development Company LimitedHong KongHK$1100%Provision of business development management services
谭仔环球发展有限公司香港1港元100%提供业务发展管理服务
TJI Global Supply Chain Company LimitedHong KongHK$1100%Provision of supply chain management services
谭仔环球供应管理有限公司香港1港元100%提供供应链管理服务
TJI Global Share Service Company LimitedHong KongHK$1100%Provision of administrative and management support services
谭仔环球企业管理有限公司香港1港元100%提供行政及管理支援服务

谭仔国际有限公司 2024/25 年报

Notes to the fiNaNcial statemeNts

财务报表附注

(Expresed in Hong Kong dolars unles otherwise indicated) （除非另外指明，否则以港元列示）

21 退休福利计划

在香港雇佣条例的司法权区下，本集团为

香港雇员根据香港强制性公积金计划条例

运作强积金计划。强积金计划为界定供款

退休计划，由独立受托人管理。根据强积

金计划，雇主及其雇员各自须对该计划按

雇员有关收入之5%作出供款，惟每月有

关收入之上限为30,000元（二零二四年：

30,000元）。向计划的供款会即时归属。

本集团在香港以外地区聘请的雇员乃根据

当地劳工法例及法规，由适当的当地界定

供款退休计划所保障。

22 于附属公司的投资

下表列载本集团于二零二五年三月三十一

日的附属公司详情。除另有列明外，所持

股份类别为普通股。

21 RETIREMENT BENEFIT SCHEME

The Group operates a MPF Scheme under the Hong Kong

Mandatory Provident Fund Scheme Ordinance for employes in

Hong Kong under the jurisdiction of the Hong Kong Employment

Ordinance. The MPF Scheme is a defined contribution retirement

scheme administered by independent trustes. Under the MPF

Scheme, the employer and its employes are each required to make

contributions to the MPF Scheme at 5% of the employes’ relevant

income, subject to a cap of monthly relevant income of $30,000 (2024:

$30,000). Contributions to the plan vest imediately.

Employes engaged by the Group outside Hong Kong are covered

by apropriate local defined contribution retirement schemes

pursuant to the local labour rules and regulations.

22 INVESTMENTS IN SUBSIDIARIES

The folowing list contains particulars of subsidiaries of the Group

as at 31 March 2025. The clas of shares held is ordinary unles

otherwise stated.

Name of company

Place of

incorporation/

establishment

and busines

Particulars of

isued/

registered capital

Proportion of

ownership

interest held by

the CompanyPrincipal activities

公司名称

注册成立╱设立

及营业地点

已发行╱注册

资本详情

本公司所持有的

拥有权比例主要业务

Tung Tak Sublime LimitedHong KongHK$1100%Operation of central kitchen, management of logistics and warehousing
同德升有限公司香港1港元100%经营中央厨房、管理物流及 仓储
TJI China Holdings Company LimitedHong KongHK$1100%Investments holding
谭仔中国控股有限公司香港1港元100%投资控股
Tam Jai Catering (Shenzhen) Co., Ltd. (NOTE (i))The People’s Republic of China (“the PRC”)RMB110,000,000100%Operation of restaurants
谭仔餐饮（深圳）有限公司 （附注(i)）中华人民共和国 （「中国」）人民币 110,000,000元100%经营餐厅
Tam Jai (Singapore) Pte. Ltd.SingaporeSGD1,750,000100%Operation of restaurants
Tam Jai (Singapore) Pte. Ltd.新加坡1,750,000坡元100%经营餐厅
TAM JAI JAPAN INC.JAPANJPY1,000100%Operation of restaurants
株式会社谭仔日本日本1,000日圆100%经营餐厅
TAM JAI CATERING (GUANGZHOU) CO., LTD. (NOTE (ii))THE PRCRMB40,000,000100%Operation of restaurants
谭仔餐饮（广州）有限公司 （ 附注(ii)）中国人民币 40,000,000元100%经营餐厅
TJI JAPANESE CONCEPTS COMPANY LIMITEDHONG KONGHK$1100%Operation of restaurants
谭仔日式概念有限公司香港1港元100%经营餐厅
TJI GLOBAL BUSINESS COMPANY LIMITEDHONG KONGHK$1100%Provision of business development management services
谭仔环球业务有限公司香港1港元100%提供业务发展管理服务
TAI JAI AUSTRALIA PTY LTDAUSTRALIAAUD100100%Investments holding
TAI JAI AUSTRALIA PTY LTD澳洲100澳元100%投资控股
MARUGAME (HK) LIMITED (NOTE (iii))HONG KONGHK$1,080,000100%Operation of restaurants
丸龟制面（香港）有限公司 （附注(iii)）香港1,080,000港元100%经营餐厅
TORIDOLL AND HEYI HOLDING LIMITED (NOTE (iii))HONG KONGHK$216,701,980100%Investments holding
东利多和颐控股有限公司 （附注(iii)）香港216,701,980港元100%投资控股

Tam Jai International Co. Limited Anual Report 2024/25

Notes to the fiNaNcial statemeNts

财务报表附注

(Expresed in Hong Kong dolars unles otherwise indicated) （除非另外指明，否则以港元列示）

22 于附属公司的投资（续）22 INVESTMENTS IN SUBSIDIARIES (Continued)

Name of company

Place of

incorporation/

establishment

and busines

Particulars of

isued/

registered capital

Proportion of

ownership

interest held by

the CompanyPrincipal activities

公司名称

注册成立╱设立

及营业地点

已发行╱注册

资本详情

本公司所持有的

拥有权比例主要业务

Tam Jai Aust JV Pty LtdIncorporatedAustraliaAUD 2,000,00049%0%49%Operation of restaurants
Tam Jai Aust JV Pty Ltd注册成立澳洲2,000,000澳元49%0%49%经营餐厅

谭仔国际有限公司 2024/25 年报

Notes to the fiNaNcial statemeNts

财务报表附注

(Expresed in Hong Kong dolars unles otherwise indicated) （除非另外指明，否则以港元列示）

22 于附属公司的投资（续）

附注：

(i) 谭仔餐饮（深圳）有限公司为根据中华人民共和国

（「中国」）法律注册的外商独资企业。该实体的英文名

称翻译仅供识别。于中国内地成立的实体以中文名为

正式名称。

(i) 谭仔餐饮（广州）有限公司为根据中国法律注册的外

商独资企业。该实体的英文名称翻译仅供识别。于中

国内地成立的实体以中文名为正式名称。于年内，本

公司额外注资人民币10,000,000元（相当于11,000,000

元）至谭仔餐饮（广州）有限公司。

(i) 丸龟制面（香港）有限公司及东利多和颐控股有限公

司为全资附属公司，于二零二四年十一月八日透过与

东利多控股有限公司（「东利多香港」，本公司的控股

股东）订立的买卖协议收购，总代价为4,100,000元。

23 于一间合营公司的权益

本集团于一间合营公司的权益在综合财务

报表采用权益法入账，详情如下：

附注： Tam Jai Aust JV Pty Ltd由本公司旗下附属公司与ST

Group Fod Industries Holdings Limited（「ST Group」）旗

下附属公司成立。ST Group为总部位于澳洲的老牌餐

饮集团，于二零一九年七月三日在新加坡交易所上

市。本集团与ST Group将合作发展合营公司，而合营

公司预计将不时与其他次特许经营商进一步订立次

特许经营协议，以分开经营「谭仔香港米线」品牌下的

餐厅业务及相关外送服务。Tam Jai Aust JV Pty Ltd主

要从事餐厅经营业务。

22 INVESTMENTS IN SUBSIDIARIES (Continued)

Notes:

(i) Tam Jai Catering (Shenzhen) Co., Ltd. is a Wholy Foreign Owned Enterprise registered

under the laws of the People’s Republic of China (the “PRC”). The English translation of

this entity is for identification only. The oficial name of the entity established in Mainland

China is in Chinese.

(i) Tam Jai Catering (Guangzhou) Co., Ltd. is a Wholy Foreign Owned Enterprise registered

under the laws of the PRC. The English translation of this entity is for identification only.

The oficial name of the entity established in Mainland China is in Chinese. During the

year, the Company contributed aditional capital of RMB 10,000,000 (equivalent to

$11,000,000) to Tam Jai Catering (Guangzhou) Co., Ltd.

(i) Marugame (HK) Limited and Toridol and Heyi Holding Limited are wholy owned

enterprise acquired on 8 November 2024 through a sale and purchase agrement with

Toridol Holding Limited (“Toridol HK”) (a controling shareholder of the Company), at a

total consideration of HK$4,100,000.

23 INTEREST IN A JOINT VENTURE

Details of the Group’s interest in a joint venture, which is acounted

for using the equity method in the consolidated financial statements,

are as folows:

Proportion of ownership interest

拥有权比例

Name of joint venture

Form of

busines

structure

Place of

incorporation

and busines

Particulars of

registered

capital

Group’s

efective

interest

Held by the

Company

Held by a

subsidiary

Principal

activity

合营公司名称业务结构形式

注册成立及

营业地点注册资本详情

本集团

实际权益

由本公司

持有

由附属公司

持有主要业务

Note: Tam Jai Aust JV Pty Ltd was established by a subsidiary of the Company with a

subsidiary of ST Group Fod Industries Holdings Limited (“ST Group”). ST Group is an

established fod and beverage group headquarter in Australia and was listed on the

Singapore Exchange on 3 July 2019. The Group and ST Group wil coperate in the

development of the joint venture, which in turn is expected to enter into further sub-

franchise agrements with other sub-franchises from time to time for the separation of

the operation of restaurants and asociated delivery services under the “TamJai Mixian”

brand. Tam Jai Aust JV Pty Ltd is mainly engaged in operation of restaurants.

2025
二零二五年
$’000
千元
Gross amounts of Tam Jai Aust JV Pty Ltd：Tam Jai Aust JV Pty Ltd的总金额：
Non-current assets非流动资产9,718
Current assets流动资产5,043
Non-current liabilities非流动负债6,626
Current liabilities流动负债8,929
Net deficit净亏损(794)
Included in the above assets and liabilities:上述资产及负债中包括：
Cash and cash equivalents现金及现金等价物3,134
Revenue收益2,272
Loss for the year年度亏损(796)
Included in the above loss:上述亏损中包括：
Depreciation and amortisation折旧及摊销(455)

Tam Jai International Co. Limited Anual Report 2024/25

Notes to the fiNaNcial statemeNts

财务报表附注

(Expresed in Hong Kong dolars unles otherwise indicated) （除非另外指明，否则以港元列示）

23 于一间合营公司的权益（续）23 INTEREST IN A JOINT VENTURE (Continued)

Balance at 1 April 2023于二零二三年四月一日的结余1,116,189—*7,10334,921(78)349,6091,507,744
Changes in equity for 2024二零二四年权益的变动：
Profit for the year年度溢利—————197,933197,933
Remeasurement of provision for long service payments重新计量长期服务金拨备—————(30)(30)
Total comprehensive income全面收益总额—————197,903197,903
Issue of shares under share option schemes (note 25)根据购股权计划发行股份 （附注25）525—————525
Dividends approved and paid in respect of the previous year (note 24(b))上一年度批准及支付的股息 （附注24(b)）—————(140,584)(140,584)
Dividends declared and paid in respect of the current year (note 24(b))本年度宣派及支付的股息 （附注24(b)）—————(40,228)(40,228)
Equity settled share-based transactions (note 25)以权益结算的以股份为基础的交易 （附注25）——(1,993)——5,8413,848
Balance at 31 March 2024 and 1 April 2024二零二四年三月三十一日及 二零二四年四月一日的结余1,116,714—*5,11034,921(78)372,5411,529,208
Changes in equity for 2025二零二五年权益的变动：
Profit for the year年度溢利—————68,93068,930
Remeasurement of provision for long service payments重新计量长期服务金拨备—————1212
Total comprehensive income全面收益总额—————68,94268,942
Issue of shares under share option schemes (note 25)根据购股权计划发行股份 （附注25）69—————69
Dividends approved and paid in respect of the previous year (note 24(b))上一年度批准及支付的股息 （附注24(b)）—————(79,121)(79,121)
Dividends declared and paid in respect of the current year (note 24(b))本年度宣派及支付的股息 （附注24(b)）—————(18,113)(18,113)
Equity settled share-based transactions (note 25)以权益结算的以股份为基础的交易 （附注25）——500——2,1942,694
Balance at 31 March 2025于二零二五年三月三十一日的结余1,116,783—*5,61034,921(78)346,4431,503,679

谭仔国际有限公司 2024/25 年报

Notes to the fiNaNcial statemeNts

财务报表附注

(Expresed in Hong Kong dolars unles otherwise indicated) （除非另外指明，否则以港元列示）

24 资本、储备及股息

(a) 权益组成部分变动

本集团的综合权益各组成部分的期初

及期末结余对账载于综合权益变动

表内。有关本公司权益个别组成部分

于年初与年末之间的变动详情列载

如下：

本公司

  • ,000元。

24 CAPITAL, RESERVES AND DIVIDENDS

(a) Movements in components of equity

The reconciliation betwen the opening and closing balances

of each component of the Group’s consolidated equity is set

out in the consolidated statement of changes in equity. Details

of the changes in the Company’s individual components of

equity betwen the begining and the end of the year are set

out below:

The Company

Share capital

Shares held

for share

award

scheme

Share-based

compensation

reserve

Other

reserve

Merger

reserve

Retained

profitsTotal

股本

就股份奖励

计划持有的

股份

以股份为基础

的薪酬储备其他储备合并储备保留溢利总额

(note 24(c)(note 25)(note 24(h)(note 24(e)(note 24(f)

（附注24(c)）（附注25）（附注24(h)）（附注24(e)）（附注24(f)）

$’000$’000$’000$’000$’000$’000$’000

千元千元千元千元千元千元千元

  • $1,000.
2025
二零二五年
$’000
千元
Interim dividend declared and paid of 1.35 cents per share (2024: 3.0 cents per share)已宣派及支付的中期股息 每股1.35仙（二零二四年： 每股3.0仙）18,11340,228
Final dividend proposed after the end of the reporting period of Nil cents per share (2024: 5.9 cents per share)报告期末后建议的末期股息 每股零仙（二零二四年： 每股5.9仙）—79,121
18,113119,349
2025
二零二五年
$’000
千元
Final dividends in respect of the previous financial year of 5.9 cents per share (2024: 10.5 cents per share)上一财政年度的末期股息 每股5.9仙（二零二四年： 每股10.5仙）79,121140,584

Tam Jai International Co. Limited Anual Report 2024/25

Notes to the fiNaNcial statemeNts

财务报表附注

(Expresed in Hong Kong dolars unles otherwise indicated) （除非另外指明，否则以港元列示）

24 资本、储备及股息（续）

(b) 股息

(i) 年内应付本公司权益股东的

股息：

报告期末后建议的末期股息于

报告期末尚未确认为负债。

(i) 源于上一财政年度并于年内

批准及支付的应付本公司权

益股东的股息：

24 CAPITAL, RESERVES AND DIVIDENDS (Continued)

(b) Dividends

(i) Dividends payable to equity shareholders of the

Company atributable to the year:

The final dividend proposed after the end of the

reporting period had not ben recognised as a liability

at the end of the reporting period.

(i) Dividends payable to equity shareholders of the

Company atributable to the previous financial

year, aproved and paid during the year:

Ordinary shares, issued and fully paid:已发行及缴足普通股：
At 1 April 2023于二零二三年四月一日1,340,740,3701,116,189
Shares issued under share option schemes (Note (i))根据购股权计划发行股份 （附注(i)）617,920525
Shares issued under share award schemes (Note (ii))根据股份奖励计划发行股份 （附注(ii)）5,340,200—
At 31 March 2024 and 1 April 2024于二零二四年三月三十一日 及二零二四年四月一日1,346,698,4901,116,714
Shares issued under share option schemes (Note (i))根据购股权计划发行股份 （附注(i)）81,40069
At 31 March 2025于二零二五年三月三十一日1,346,779,8901,116,783

谭仔国际有限公司 2024/25 年报

Notes to the fiNaNcial statemeNts

财务报表附注

(Expresed in Hong Kong dolars unles otherwise indicated) （除非另外指明，否则以港元列示）

24 资本、储备及股息（续）

(c) 已发行股本

附注：

(i) 截至二零二五年三月三十一日止年度，根据

附注25所详述购股权计划，购股权获行使以

按代价69,000元（二零二四年：525,000元）认

购合共81,400股本公司普通股（二零二四年：

617,920股），有关股份按附注1(o)(i)所载会计

政策计入股本。

(i) 于二零二四年一月十二日，5,340,200股普通

股已配发及发行予本公司为股份奖励计划而

设立的信托。

根据香港《公司条例》第135条，本公

司的普通股并无面值。

普通股持有人有权收取不时宣派的股

息，及有权就每股份于本公司的大

会上享有一票投票权。就本公司的余

下资产，所有普通股享有同等地位。

24 CAPITAL, RESERVES AND DIVIDENDS (Continued)

(c) Isued share capital

No. of sharesAmount

股份数目金额

$’000

千元

Notes:

(i) During the year ended 31 March 2025, share options were exercised to

subscribe for a total of 81,400 ordinary shares (2024: 617,920) of the Company

at a consideration of $69,000 (2024: $525,000) which were credited to share

capital in acordance with the acounting policy set out in note 1(o)(i) under

the share option schemes detailed in note 25.

(i) On 12 January 2024, 5,340,200 ordinary shares were aloted and isued to a

trust set up by the Company for a share award scheme.

In acordance with section 135 of the Hong Kong Companies

Ordinance, the ordinary shares of the Company do not have a

par value.

The holders of ordinary shares are entitled to receive dividends

as declared from time to time and are entitled to one vote per

share at metings of the Company. Al ordinary shares rank

equaly with regard to the Company’s residual asets.

Tam Jai International Co. Limited Anual Report 2024/25

Notes to the fiNaNcial statemeNts

财务报表附注

(Expresed in Hong Kong dolars unles otherwise indicated) （除非另外指明，否则以港元列示）

24 资本、储备及股息（续）

(d) 资本管理

本集团管理资本的主要目的是保障本

集团持续经营的能力，让其可继续为

股东提供回报。

本集团将「资本」定义为包含所有权益

组成部分。本集团不会将因与其他集

团公司的买卖交易而产生的交易结余

视作资本。

本集团积极及定期审阅及管理其资本

架构，并因应影响本集团的经济状况

变化，对资本架构进行调整，惟有关

调整不得与董事对本集团的受信责任

或香港《公司条例》的规定有冲突。董

事对本集团资本架构的审阅结果会用

作厘定宣派股息（如有）水平的基准。

与过往年度相比，本集团的资本管理

常规并无变动。本公司及其任何附属

公司概无于本年度或上一年度受外部

施加的资本要求所规限。

(e) 其他储备

其他储备包括以下各项：

— 本公司及多间受共同控制实体

之间根据香港《公司条例》第681

条进行的合并所产生的股本金

额；及

— 发行成本，主要包括包销费、佣

金及其他相关开支，即发行新

股份直接应占的增量成本。

24 CAPITAL, RESERVES AND DIVIDENDS (Continued)

(d) Capital management

The Group’s primary objectives when managing capital are to

safeguard the Group’s ability to continue as a going concern

so that it can continue to provide returns for shareholders.

The Group defines “capital” as including al components

of equity. Trading balances that arise as a result of trading

transactions with other group companies are not regarded by

the Group as capital.

The Group actively and regularly reviews and manages

its capital structure. Adjustments are made to the capital

structure in light of changes in economic conditions afecting

the Group, to the extent that these do not conflict with

the directors’ fiduciary duties towards the Group or the

requirements of the Hong Kong Companies Ordinance. The

results of the directors’ review of the Group’s capital structure

are used as a basis for the determination of the level of

dividends, if any, that are declared.

There has ben no change in the Group’s capital management

practices as compared to prior years. Neither the Company

nor any of its subsidiaries are subject to externaly imposed

capital requirements in the curent or prior year.

(e) Other reserve

The other reserve comprises the folowing:

— the share capital amount arising from the

amalgamations among the Company and various

entities under comon control pursuant to section 681

of the Hong Kong Companies Ordinance; and

— isuing costs, mainly including underwriting fes,

comisions and other related expenses which are

incremental costs directly atributable to the isue of

new shares.

谭仔国际有限公司 2024/25 年报

Notes to the fiNaNcial statemeNts

财务报表附注

(Expresed in Hong Kong dolars unles otherwise indicated) （除非另外指明，否则以港元列示）

24 资本、储备及股息（续）

(f) 合并储备

合并储备指截至二零一八年三月三十

一日止年度本公司已付代价与受其时

股东共同控制的已收购附属公司的股

本之间的差额。

(g) 汇兑储备

汇兑储备包括换算海外业务财务报表

所产生的所有汇兑差额。此储备根据

附注1(s)所载的会计政策处理。

(h) 以股份为基础之薪酬储备

以股份为基础之薪酬储备包括未行使

股份奖励及授予本公司雇员的购股权

于授予日的公允价值，乃根据就附注

1(o)(i)下以股份为基础的支付采纳的

会计政策确认。

25 以股份为基础的支付

股份奖励计划

于二零二一年三月二十五日，本公司采纳

一项股份奖励计划（「首次公开发售前股

份奖励计划」）。首次公开发售前股份奖励

计划由二零二一年三月二十五日开始，于

10年内有效及生效。根据首次公开发售前

股份奖励计划的规则，本集团已成立信托

（「股份奖励计划信托」），以管理首次公开

发售前股份奖励计划及持有获授的股份奖

励，直至其归属为止。本公司有权指示股

份奖励计划信托的相关活动及有能力对股

份奖励计划信托行使权力以影响其回报。

因此，股份奖励计划信托被视作本集团的

受控结构实体。

于二零二一年三月二十五日及二零二一年

八月九日，本公司根据首次公开发售前股

份奖励计划无偿向若干选定雇员（包括但不

限于本集团任何成员公司的董事、行政人

员、高级职员及其他雇员，不论全职或兼

职）分别授予合共2,024,000股及3,000,000

股份奖励（「奖励股份」）。

24 CAPITAL, RESERVES AND DIVIDENDS (Continued)

(f) Merger reserve

The merger reserve represents the diference betwen the

consideration paid by the Company and the share capital

of the subsidiaries acquired under comon control of the

shareholders by then during the year ended 31 March 2018.

(g) Exchange reserve

The exchange reserve comprises al foreign exchange

diferences arising from the translation of the financial

statements of foreign operations. The reserve is dealt with in

acordance with the acounting policy set out in note 1(s).

(h) Share-based compensation reserve

The share-based compensation reserve comprises the

grant date fair value of unexercised share awards and share

options granted to employes of the Company that has ben

recognised in acordance with the acounting policy adopted

for share-based payments in note 1(o)(i).

25 SHARE-BASED PAYMENTS

Share award scheme

On 25 March 2021, a share award scheme (the “Pre-IPO Share

Award Scheme”) was adopted by the Company. The Pre-IPO

Share Award Scheme is valid and efective for a period of 10 years

comencing from 25 March 2021. Pursuant to the rules of the Pre-

IPO Share Award Scheme, the Group has set up a trust (the “Share

Award Scheme Trust”) for the purpose of administering the Pre-

IPO Share Award Scheme and holding the granted share awards

before they are vested. The Company has the power to direct the

relevant activities of the Share Award Scheme Trust and it has the

ability to use its power over the Share Award Scheme Trust to afect

its exposure to returns. Therefore, the Share Award Scheme Trust is

considered as a controled structured entity of the Group.

On 25 March 2021 and 9 August 2021, a total of 2,024,000 and

3,000,000 share awards (the “Awarded Shares”) were respectively

granted to certain selected employes (including but not limited to

directors, executives, oficers and other employes, whether ful-

time or part-time, of any members of the Group) at no consideration

under the Company’s Pre-IPO Share Award Scheme.

Tam Jai International Co. Limited Anual Report 2024/25

Notes to the fiNaNcial statemeNts

财务报表附注

(Expresed in Hong Kong dolars unles otherwise indicated) （除非另外指明，否则以港元列示）

25 以股份为基础的支付（续）

股份奖励计划（续）

承授人获授予的奖励股份总数的30%将由

股份首次开始于香港联交所买卖当日（「上

市日期」）起归属；承授人获授予的奖励股

份总数的30%将由紧随上市日期一周年后

的日期起归属；及承授人获授予的奖励股

份总数的40%将由紧随上市日期两周年后

的日期起归属。选定雇员于归属日期必须

仍然担任本公司或其附属公司的董事或

雇员。

于二零二三年十月十二日（「授出日期」），

本公司根据股份奖励计划无偿向若干选定

雇员（包括但不限于本集团任何成员公司的

董事、行政人员、高级职员及其他雇员，不

论全职或兼职）授予合共5,657,000股份奖

励（「奖励股份」）。

承授人获授予的奖励股份总数的30%将于

授出日期一周年当日归属；承授人获授予

的奖励股份总数的30%将于授出日期两周

年当日归属；及承授人获授予的奖励股份

总数的40%将于授出日期三周年当日归属。

就于二零二三年十月十二日授出的奖励股

份而言，由于作为高级行政人员（附注）的

承授人（包括A类雇员（附注）及B类雇员（附

注）属主要及高级行政人员，对本集团的

发展至为重要，彼等一部分奖励股份的归

属须受绩效目标所限。具体而言，(i)A类雇

员（包括本公司执行董事刘达民先生、陈萍

女士及杨少昌先生）所获授奖励股份其中三

分之二的归属；及(i)B类雇员所获授奖励股

份其中一半的归属须受下文载列的绩效目

标所限：视乎董事会不时就各相关年度全

权酌情决定的各项主要绩效指标（包括销售

目标、除税后溢利及增加店舖数量）中加权

分数的达成情况，承授人将按归属时间表

获发放70%、85%或100%的相关奖励股份。

25 SHARE-BASED PAYMENTS (Continued)

Share award scheme (Continued)

30% of the total number of the Awarded Shares granted to the

grante wil vest from the date on which dealings in the shares

first comence on the Hong Kong Stock Exchange (the “Listing

Date”); 30% of the total number of the Awarded Shares granted

to the grante wil vest from the date imediately after the 1st

aniversary of the Listing Date; and 40% of the total number of

the Awarded Shares granted to the grante wil vest from the date

imediately after the 2nd aniversary of the Listing Date. The

selected employes must also remain a director or an employe of

the Company or its subsidiaries as at the vesting date.

On 12 October 2023 (“Date of Grant”), a total of 5,657,000 share

awards (the “Awarded Shares”) were granted to certain selected

employes (including but not limited to directors, executives,

oficers and other employes, whether ful-time or part-time, of any

members of the Group) at no consideration under the Company’s

Share Award Scheme.

30% of the total number of the Awarded Shares granted to the

grante wil vest on the first aniversary of the Date of Grant; 30% of

the total number of the Awarded Shares granted to the grante wil

vest on the second aniversary of the Date of Grant; and 40% of the

total number of the Awarded Shares granted to the grante wil vest

on the third aniversary of the Date of Grant.

For the grant of awarded Shares on 12 October 2023, in respect

of grantes who are Senior Executives (Note) (including Clas A

Employes (Note) and Clas B Employes (Note), as they are key

and senior executives who are critical to the Group’s development,

the vesting of part of their awarded Shares shal be subject to

the performance targets. In particular, (i) for Clas A Employes,

including Mr. Lau Tat Man, Ms. Chan Ping, Rita and Mr. Yeung Siu

Cheong, al being executive Directors of the Company, vesting of

two-thirds of their awarded Shares; and (i) for Clas B Employes,

vesting of half of their Awarded Shares, wil be subject to the

folowing performance targets: the grantes wil receive 70%, 85%

or 100% of the relevant awarded Shares acording to the vesting

schedule subject to achievement of the weighted scores in each of

the key performance indicator components including targeted sales,

profits after tax and increment in the number of stores as may be

determined by the Board at its sole and absolute discretion from

time to time for each relevant year.

2025
二零二五年
At the beginning of the year于年初5,427,0001,921,600
Share awards granted during the year于年内授予的股份奖励—5,657,000
Share awards lapsed during the year于年内失效的股份奖励(1,220,100)(379,600)
Share awards vested during the year于年内归属的股份奖励(711,900)(1,772,000)
Share awards forfeited during the year于年内没收的股份奖励(433,200)—
At the end of the year于年末3,061,8005,427,000

谭仔国际有限公司 2024/25 年报

Notes to the fiNaNcial statemeNts

财务报表附注

(Expresed in Hong Kong dolars unles otherwise indicated) （除非另外指明，否则以港元列示）

25 以股份为基础的支付（续）

就作为中阶雇员（附注）的承授人（即高级行

政人员除外）而言，本公司认为彼等的士气

和忠诚为本集团迈向成功的关键。因此，

为吸引、挽留和维持与中阶雇员的关系，

彼等之奖励股份概不受绩效目标所限。

薪酬委员会认为，上述绩效目标机制符合

股份奖励计划及本集团人才挽留计划之

目的。

附注： 所有定义见本公司日期为二零二三年十一月十五日

的通函。

已授予但尚未归属的奖励股份数目变动

如下：

于授出日期（即二零二三年十月十二

日），5,657,000股奖励股份的公允价值约

7,184,000元。

截至二零二五年三月三十一日止年度，就

奖励股份于损益确认的总开支为2,317,000

元（二零二四年：2,738,000元）。

25 SHARE-BASED PAYMENTS (Continued)

In respect of grantes who are Mid-level Employes (Note) (i.e.

other than the Senior Executives), the Company considers that

their morale and loyalty are the key to the suces of the Group.

Therefore, to atract, retain and maintain the relationships with the

Mid-level Employes, none of their awarded Shares wil be subject

to performance targets.

The Remuneration Comite is of the view that the aforementioned

mechanism in respect of performance targets align with the purpose

of the Share Award Scheme and the Group’s talent retention

program.

Note: Al as defined in the circular of the Company dated 15 November 2023.

Movements in the number of Awarded Shares granted but not yet

vested are as folows:

Fair value of 5,657,000 Awarded Shares at the grant dates on 12

October 2023 amounted to aproximately $7,184,000.

The total expense recognised in profit or los for the year ended 31

March 2025 in respect of the Awarded Shares was $2,317,000 (2024:

$2,738,000).

Tam Jai International Co. Limited Anual Report 2024/25

Notes to the fiNaNcial statemeNts

财务报表附注

(Expresed in Hong Kong dolars unles otherwise indicated) （除非另外指明，否则以港元列示）

25 以股份为基础的支付（续）

购股权计划

根据本公司购股权计划（即「首次公开发售

前购股权计划」及「首次公开发售后购股权

计划」）已授予若干经选定雇员（包括但不

限于本集团任何成员公司的董事、行政人

员、高级职员及其他雇员，不论全职或兼

职）购股权。首次公开发售前购股权计划及

首次公开发售后购股权计划给予承授人购

股权，可分别按行使价0.85元及2.638元认

购本公司新普通股。

首次公开发售前购股权计划

于二零二一年三月二十五日，合共

2,848,400份购股权已根据首次公开发售前

购股权计划授予本集团若干合资格参与者。

根据首次公开发售前购股权计划的条款，

在以下归属日期的规限下，根据首次公开

发售前购股权计划授予的任何购股权可于

授予接纳日期起计10年届满前任何时间行

使：(i)向该承授人授予的购股权总数的30%

可自上市日期起行使；(i)向该承授人授予

的购股权总数的30%可自紧随上市日期一

周年后的日期起行使；及(i)向该承授人授

予的购股权总数的40%可自紧随上市日期

两周年后的日期起行使。

根据首次公开发售前购股权计划，截至二

零二五年三月三十一日止年度，合共零份

（二零二四年：812,640份）、零份（二零二四

年：159,700份）及81,400份（二零二四年：

617,920份）授予本公司若干雇员的购股权

已分别归属、失效及行使。

25 SHARE-BASED PAYMENTS (Continued)

Share option schemes

Share options were granted to certain selected employes

(including but not limited to directors, executives, oficers and other

employes, whether ful-time or part-time, of any members of the

Group) under the Company’s share option schemes, namely “Pre-

IPO Share Option Scheme” and “Post-IPO Share Option Scheme”.

The Pre-IPO Share Option Scheme and the Post-IPO Share Option

Scheme ofer the grantes options to subscribe for new ordinary

shares of the Company at an exercise price of $0.85 and $2.638

respectively.

Pre-IPO Share Option Scheme

On 25 March 2021, a total of 2,848,400 options were granted to

certain qualified participants of the Group under the Pre-IPO Share

Option Scheme.

Acording to the terms of the Pre-IPO Share Option Scheme,

subject to the folowing vesting dates, any options granted under the

Pre-IPO Share Option Scheme may be exercisable at any time prior

to the expiry of 10 years from the aceptance date of the grant: (i)

30% of the total number of share options granted to such grante

can be exercised from the Listing Date; (i) 30% of the total number

of share options granted to such grante can be exercised from

the date imediately after the 1st aniversary of the Listing Date:

and (i) 40% of the total number of share options granted to such

grante can be exercised from the date imediately after the 2nd

aniversary of the Listing Date.

Under the Pre-IPO Share Option Scheme, a total of Nil (2024:

812,640), Nil (2024: 159,700), and 81,400 (2024: 617,920) share

options granted to certain employes of the Company were vested,

lapsed and exercised respectively during the year ended 31 March

2025.

谭仔国际有限公司 2024/25 年报

Notes to the fiNaNcial statemeNts

财务报表附注

(Expresed in Hong Kong dolars unles otherwise indicated) （除非另外指明，否则以港元列示）

25 以股份为基础的支付（续）

首次公开发售后购股权计划

于二零二年三月二十五日，根据首次公

开发售后购股权计划，向本集团的若干合

资格参与者授予合共6,394,000份购股权。

该等购股权有效期为授出日期起计10年及

将分三批归属：(i)30%购股权将于二零二三

年三月二十五日归属；(i)30%购股权将于

二零二四年三月二十五日归属；及(i)余下

40%购股权将于二零二五年三月二十五日

归属。

根据首次公开发售后购股权计划的条款，

在以上归属日期的规限下，购股权可于购

股权被视为已授出并获接纳之日后至自该

日起计10年届满前随时予以行使。购股权

的行使期将由本公司董事会全权酌情厘

定，惟购股权不得在授出购股权10年后行

使。于上市日期起计10年后不得授出购股

权。除非经由本公司于股东大会或经由董

事会提前终止，否则首次公开发售后购股

权计划自授予日期起计10年内生效及有效。

根据首次公开发售后购股权计划，截至

二零二五年三月三十一日止年度，合共

1,702,400份（二零二四年：1,359,300份）、

417,000份（二零二四年：1,482,000份）及零

份（二零二四年：零份）授予本公司若干雇

员的购股权已分别归属、失效及行使。

截至二零二五年三月三十一日止年度，根

据首次公开发售前购股权计划及首次公开

发售后购股权计划在损益中确认的总开支

为377,000元（二零二四年：1,108,000元）。

25 SHARE-BASED PAYMENTS (Continued)

Post-IPO Share Option Scheme

On 25 March 2022, a total of 6,394,000 options were granted to

certain qualified participants of the Group under the Post-IPO Share

Option Scheme. These options are valid for a period of 10 years

from the date of grant and wil be vested in thre tranches: (i) 30%

of the options wil vest on 25 March 2023; (i) 30% of the options wil

vest on 25 March 2024; and (i) the remaining 40% of the options

wil vest on 25 March 2025.

In acordance with the terms of the Post-IPO Share Option Scheme,

subject to the above vesting dates, an option may be exercised

at any time after the date upon which the option is demed to be

granted and acepted and prior to the expiry of 10 years from that

date. The period during which an option may be exercised wil be

determined by the Company’s board of directors in its absolute

discretion, save that no option may be exercised more than 10

years after it has ben granted. No option may be granted more

than 10 years after the Listing Date. Subject to earlier termination

by our Company in a general meting or by the board of directors

the Post-IPO Share Option Scheme shal be valid and efective for a

period of 10 years from the grant date.

Under the Post-IPO Share Option Scheme, a total of 1,702,400 (2024:

1,359,300), 417,000 (2024: 1,482,000), Nil (2024: Nil) share options

granted to certain employes of the Company were vested, lapsed

and exercised respectively during the year ended 31 March 2025.

The total expense recognised in profit or los for the year ended 31

March 2025 in respect of the share options under the Pre-IPO Share

Option Scheme and the Post-IPO Share Option Scheme was $377,000

(2024: $1,108,000).

Pre-IPO Share Option Scheme
首次公开发售前购股权计划
Options granted to directors:
向董事授予购股权：
— on 25 March 2021$0.85元85,800From 25 March 2021 to 7 October 202130 April 2031
— 于二零二一年三月二十五日二零二一年三月二十五日至二零二一年十月七日二零三一年 四月三十日
— on 25 March 2021$0.85元85,800From 25 March 2021 to 7 October 202230 April 2031
— 于二零二一年三月二十五日二零二一年三月二十五日至二零二二年十月七日二零三一年 四月三十日
— on 25 March 2021$0.85元114,400From 25 March 2021 to 7 October 202330 April 2031
— 于二零二一年三月二十五日二零二一年三月二十五日至二零二三年十月七日二零三一年 四月三十日
Options granted to employees:
向雇员授予购股权：
— on 25 March 2021$0.85元768,720From 25 March 2021 to 7 October 202130 April 2031
— 于二零二一年三月二十五日二零二一年三月二十五日至二零二一年十月七日二零三一年 四月三十日
— on 25 March 2021$0.85元768,720From 25 March 2021 to 7 October 202230 April 2031
— 于二零二一年三月二十五日二零二一年三月二十五日至二零二二年十月七日二零三一年 四月三十日
— on 25 March 2021$0.85元1,024,960From 25 March 2021 to 7 October 202330 April 2031
— 于二零二一年三月二十五日二零二一年三月二十五日至二零二三年十月七日二零三一年 四月三十日
Total number of share options granted2,848,400
已授予购股权总数

Tam Jai International Co. Limited Anual Report 2024/25

Notes to the fiNaNcial statemeNts

财务报表附注

(Expresed in Hong Kong dolars unles otherwise indicated) （除非另外指明，否则以港元列示）

25 以股份为基础的支付（续）

(a) 购股权的条款及条件如下：

25 SHARE-BASED PAYMENTS (Continued)

(a) The terms and conditions of the share options are as

folows:

Exercise price

per share

Number of

optionsVesting periodExpiry date

每股行使价购股权数目归属期届满日期

Post-IPO Share Option Scheme
首次公开发售后购股权计划
Options granted to directors:
向董事授予购股权：
— on 25 March 2022$2.638元289,800From 25 March 2022 to 25 March 20231 April 2032
— 于二零二二年三月二十五日二零二二年三月二十五日至二零二三年三月二十五日二零三二年 四月一日
— on 25 March 2022$2.638元289,800From 25 March 2022 to 25 March 20241 April 2032
— 于二零二二年三月二十五日二零二二年三月二十五日至二零二四年三月二十五日二零三二年 四月一日
— on 25 March 2022$2.638元386,400From 25 March 2022 to 25 March 20251 April 2032
— 于二零二二年三月二十五日二零二二年三月二十五日至二零二五年三月二十五日二零三二年 四月一日
Options granted to employees:
向雇员授予购股权：
— on 25 March 2022$2.638元1,628,400From 25 March 2022 to 25 March 20231 April 2032
— 于二零二二年三月二十五日二零二二年三月二十五日至二零二三年三月二十五日二零三二年 四月一日
— on 25 March 2022$2.638元1,628,400From 25 March 2022 to 25 March 20241 April 2032
— 于二零二二年三月二十五日二零二二年三月二十五日至二零二四年三月二十五日二零三二年 四月一日
— on 25 March 2022$2.638元2,171,200From 25 March 2022 to 25 March 20251 April 2032
— 于二零二二年三月二十五日二零二二年三月二十五日至二零二五年三月二十五日二零三二年 四月一日
Total number of share options granted6,394,000
已授予购股权总数

谭仔国际有限公司 2024/25 年报

Notes to the fiNaNcial statemeNts

财务报表附注

(Expresed in Hong Kong dolars unles otherwise indicated) （除非另外指明，否则以港元列示）

25 以股份为基础的支付（续）

(a) 购股权的条款及条件如下：（续）

25 SHARE-BASED PAYMENTS (Continued)

(a) The terms and conditions of the share options are as

folows: (Continued)

Exercise price

per share

Number of

optionsVesting periodExpiry date

每股行使价购股权数目归属期届满日期

2025
二零二五年
Weighted average exercise priceNumber of options
加权平均 行使价购股权数目
Outstanding at the beginning of the year于年初尚未行使$2.336元5,450,610$2.244元7,710,230
Granted during the year于年内授予N/A 不适用—N/A 不适用—
Lapsed during the year于年内失效$2.638元(417,000)$2.464元(1,641,700)
Exercised during the year于年内行使$0.850元(81,400)$0.850元(617,920)
Outstanding at the end of the year于年末尚未行使$2.335元4,952,210$2.336元5,450,610
Exercisable at the end of the year于年末可予行使$2.335元4,952,210$2.186元3,638,210

Tam Jai International Co. Limited Anual Report 2024/25

Notes to the fiNaNcial statemeNts

财务报表附注

(Expresed in Hong Kong dolars unles otherwise indicated) （除非另外指明，否则以港元列示）

25 以股份为基础的支付（续）

(b) 购股权数目及加权平均行使价

如下：

年内行使的购股权于行使日期的加权平均

股价为1.470元（二零二四年：1.529元）。

于二零二五年三月三十一日，尚未行使购

股权的加权平均行使价为2.335元（二零二

四年：2.336元），加权平均剩余合约期为

6.85年（二零二四年：7.85年）。

25 SHARE-BASED PAYMENTS (Continued)

(b) The number and weighted average exercise prices

of share options are as folows:

The weighted average share price at the date of exercise for

the share options exercised during the year was $1.470 (2024:

$1.529).

The share options outstanding at 31 March 2025 had a

weighted average exercise price of $2.335 (2024: $2.336) and

a weighted average remaining contractual life of 6.85 years (2024:

7.85 years).

谭仔国际有限公司 2024/25 年报

Notes to the fiNaNcial statemeNts

财务报表附注

(Expresed in Hong Kong dolars unles otherwise indicated) （除非另外指明，否则以港元列示）

26 财务风险管理及金融工具公允价值

本集团的正常业务过程中会产生信贷、流

动资金及利率风险。本集团所面对的该等

风险及本集团用以管理该等风险的财务风

险管理政策及常规描述如下。

(a) 信贷风险

信贷风险指交易对手将不履行其合约

责任而导致本集团蒙受财务损失的风

险。本集团的信贷风险主要来自贸易

应收款项及租赁按金。由于本集团的

交易对手为本集团认为信贷风险低的

银行及金融机构，故本集团因现金及

银行结余而承受的信贷风险有限。

于二零二五年及二零二四年三月三十

一日，本集团并无任何重大信贷集中

风险，亦不提供任何会使本集团面临

信贷风险的担保。最高信贷风险指财

务报表中各项金融资产的账面值。

就贸易应收款项而言，本集团制定信

贷风险管理政策，据此，对所有需要

超过一定金额信贷的客户进行个别信

贷评估。该等评估考虑到客户过往支

付到期款项的记录及现时的支付能

力、客户的具体资料及客户经营所在

经济环境的相关资料。贸易应收款项

将于发出账单日期起计30天内到期。

一般而言，本集团不会向客户索取抵

押品。

26 FINANCIAL RISK MANAGEMENT AND FAIR VALUES

OF FINANCIAL INSTRUMENTS

Exposure to credit, liquidity and interest rate risks arises in the

normal course of the Group’s busines. The Group’s exposure to

these risks and the financial risk management policies and practices

used by the Group to manage these risks are described below.

(a) Credit risk

Credit risk refers to the risk that a counterparty wil default

on its contractual obligations resulting in a financial los to

the Group. The Group’s credit risk is primarily atributable to

trade receivables and rental deposits. The Group’s exposure

to credit risk arising from cash and bank balances is limited

because the counterparties are banks and financial institutions

which the Group considers to represent low credit risk.

As at 31 March 2025 and 2024, the Group does not have any

significant concentration of credit risk and does not provide

any guarantes which would expose the Group to credit

risk. The maximum exposure to credit risk is represented by

the carying amount of each financial aset in the financial

statements.

In respect of trade receivables, the Group has established a

credit risk management policy under which individual credit

evaluations are performed on al customers requiring credit

over a certain amount. These evaluations take into acount

the customer’s past history of making payments when due

and curent ability to pay, information specific to the customer

as wel as pertaining to the economic environment in which

the customer operates. Trade receivables are due within

30 days from the biling date. Normaly, the Group does not

obtain colateral from customers.

Tam Jai International Co. Limited Anual Report 2024/25

Notes to the fiNaNcial statemeNts

财务报表附注

(Expresed in Hong Kong dolars unles otherwise indicated) （除非另外指明，否则以港元列示）

26 财务风险管理及金融工具公允

价值（续）

(a) 信贷风险（续）

对于以现金、储值智能卡或主要信用

卡进行交易的零售客户，本集团并无

进行信贷评估。本集团透过外卖服务

平台结算的销售所涉及的贸易应收款

项，具有高信贷评级且并无过往违约

记录。于截至二零二五年及二零二四

年三月三十一日止年度，鉴于该等资

产为短期资产，而按高信贷评级发行

人计算，违约的可能性可忽略不计，

预期信贷亏损率并不重大且接近零，

因此并无就贸易应收款项确认亏损

拨备。

租赁按金支付给餐厅业主。业主的信

贷质素乃根据其财务状况及╱或本集

团过往与各业主的交易经验而评估。

经计及业主的信贷评级以及租赁按金

所涵盖的剩余租期及期间，本集团所

承受的来自可退回租赁按金的信贷风

险较低。董事认为，于截至二零二五

年及二零二四年三月三十一日止年

度，租赁按金的预期信贷亏损率并不

重大且接近零，故并无就此确认亏损

拨备。

有关本集团贸易应收款项及按金产生

的信贷风险之进一步定量披露载于附

注14。

26 FINANCIAL RISK MANAGEMENT AND FAIR VALUES

OF FINANCIAL INSTRUMENTS (Continued)

(a) Credit risk (Continued)

No credit evaluations are performed for retail customers that

transact in cash, stored value smart card or via major credit

cards. The Group’s trade receivables in conection with sales

setled through delivery service platforms are with high credit

rating and no past default history. Given that these asets are

short-term in nature and the probability of default is negligible

on the basis of high-credit rating isuers, the expected credit

los rates were insignificant and close to zero for the years

ended 31 March 2025 and 2024, and acordingly, no los

alowance was recognised in respect of trade receivables.

Rental deposits are paid to landlords of restaurants. The credit

quality of the landlords is asesed based on their financial

position and/or past experience of the Group in dealing with

the respective landlords. The Group’s exposure to credit risk

arising from refundable rental deposits is considered to be

low, taking into acount the landlords’ credit rating and the

remaining lease term and the period covered by the rental

deposits. The directors are of the opinion that the expected

credit los rates for rental deposits were insignificant and

close to zero for the years ended 31 March 2025 and 2024,

and acordingly, no los alowance was recognised thereon.

Further quantitative disclosures in respect of the Group’s

exposure to credit risk arising from trade receivables and

deposits are set out in note 14.

Contractual undiscounted cash outflow
合约未折现现金流出量
Within one year or on demandMore than one year but less than two yearsMore than two years but less than five yearsMore than five yearsTotalCarrying amount
一年内或 按要求超过一年 但少于两年超过两年 但少于五年超过五年总计账面值
$’000$’000$’000$’000$’000$’000
千元千元千元千元千元千元
Trade and other payables and accruals贸易及其他应付款 项及应计费用237,899———237,899237,899
Deposits received已收按金200———200200
Lease liabilities租赁负债392,603252,109190,33115,117850,160804,558
630,702252,109190,33115,1171,088,2591,042,657

谭仔国际有限公司 2024/25 年报

Notes to the fiNaNcial statemeNts

财务报表附注

(Expresed in Hong Kong dolars unles otherwise indicated) （除非另外指明，否则以港元列示）

26 财务风险管理及金融工具公允

价值（续）

(b) 流动资金风险

本集团的政策是定期监察其流动资

金需求，以确保其维持足够的现金储

备，以满足其短期及长期的流动资金

需求。

下表显示本集团金融负债于报告期末

的剩余合约到期日，该等合约到期日

乃以合约未折现金流量（包括以合

约利率或（倘为浮动）报告期末的现行

利率计算的利息付款）及本集团可被

要求付款的最早日期：

于二零二五年三月三十一日

26 FINANCIAL RISK MANAGEMENT AND FAIR VALUES

OF FINANCIAL INSTRUMENTS (Continued)

(b) Liquidity risk

The Group’s policy is to regularly monitor its liquidity

requirements to ensure that it maintains suficient reserves of

cash to met its liquidity requirements in the short and longer

term.

The folowing tables show the remaining contractual maturities

at the end of the reporting period of the Group’s financial

liabilities, which are based on contractual undiscounted cash

flows (including interest payments computed using contractual

rates or, if floating, based on rates curent at the end of the

reporting period) and the earliest date the Group can be

required to pay:

At 31 March 2025

Trade and other payables and accruals贸易及其他应付款 项及应计费用226,987———226,987226,987
Deposits received已收按金200———200200
Lease liabilities租赁负债396,265246,255172,53721,734836,791803,451
623,452246,255172,53721,7341,063,9781,030,638
2025
二零二五年
$’000
千元
Contracted for已订约4,9941,163

Tam Jai International Co. Limited Anual Report 2024/25

Notes to the fiNaNcial statemeNts

财务报表附注

(Expresed in Hong Kong dolars unles otherwise indicated) （除非另外指明，否则以港元列示）

26 财务风险管理及金融工具公允

价值（续）

(b) 流动资金风险（续）

于二零二四年三月三十一日

(c) 利率风险

由于本集团并无持有任何公允价值或

未来现金流量会因市场利率变动而波

动的金融工具，故本集团所面对的利

率风险并不重大。

(d) 公允价值计量

于二零二五年及二零二四年三月三十

一日，本集团的金融资产及负债账面

值按成本或摊销成本列账，与其公允

价值并无重大差异。

27 承担

于二零二五年三月三十一日，未在综合财

务报表中计提的未偿还已授权及订约的资

本承担如下：

26 FINANCIAL RISK MANAGEMENT AND FAIR VALUES

OF FINANCIAL INSTRUMENTS (Continued)

(b) Liquidity risk (Continued)

At 31 March 2024

Contractual undiscounted cash outflow

合约未折现金流出量

Within one

year or

on demand

More than

one year but

les than

two years

More than

two years but

les than

five years

More than

five yearsTotal

Carying

amount

一年内或

按要求

超过一年

但少于两年

超过两年

但少于五年超过五年总计账面值

$’000$’000$’000$’000$’000$’000

千元千元千元千元千元千元

(c) Interest rate risk

The Group’s exposure to interest rate risk is not significant

since the Group does not hold any financial instrument of

which the fair value or future cash flows wil fluctuate because

of changes in market interest rates.

(d) Fair value measurement

The carying amounts of the Group’s financial asets and

liabilities caried at cost or amortised cost are not materialy

diferent from their fair values as at 31 March 2025 and 2024.

27 COMITMENTS

Authorised and contracted capital comitments outstanding at 31

March 2025 not provided for in the consolidated financial statements

were as folows:

2025
二零二五年
$’000
千元
Salaries and other emoluments薪金及其他薪酬5,8933,128
Discretionary bonuses酌情花红1,137805
Retirement scheme contributions退休计划供款10876
Long service payment长期服务金81
Share-based payments以股份为基础的支付239257
7,3854,267

谭仔国际有限公司 2024/25 年报

Notes to the fiNaNcial statemeNts

财务报表附注

(Expresed in Hong Kong dolars unles otherwise indicated) （除非另外指明，否则以港元列示）

28 或然负债

于二零二五年三月三十一日，本集团就代

替按金而向业主提供银行担保，涉及的或

然负债约为2,620万元（于二零二四年三月

三十一日：约为2,680万元）。

29 重大关联方交易

除财务报表其他部分所披露的交易及结余

外，本集团订立以下关联方交易：

(a) 与主要管理人员的交易

本集团主要管理人员的薪酬为支付

予本公司董事（如附注7所披露）的金

额，并计入员工成本（见附注5(a)）。

高级管理层的薪酬如下：

董事及高级管理层的薪酬乃根据个别

人士的表现及市场趋势厘定。

28 CONTINGENT LIABILITIES

As at 31 March 2025, the Group had contingent liabilities of

aproximately HK$26.2 milion (31 March 2024: HK$26.8 milion) in

respect of bank guarantes given in favour of the landlords in lieu of

deposits.

29 MATERIAL RELATED PARTY TRANSACTIONS

Other than the transactions and balances disclosed elsewhere in

the financial statements, the Group entered into the folowing related

party transactions:

(a) Transactions with key management personel

Remuneration for key management personel of the Group is

the amounts paid to the Company’s directors as disclosed in

note 7 and is included in staf costs (se note 5(a).

The emoluments of the senior management were as folows:

The remuneration of directors and senior management is

determined having regard to the performance of individuals

and market trends.

2025
二零二五年
$’000
千元
Management fee to immediate holding company支付予直接控股公司 的管理服务费(i)768854
Management fee to ultimate holding company支付予最终控股公司 的管理服务费(i)936788
Management fee income from immediate holding company来自直接控股公司的 管理服务费(i)—(442)
Management fee income from a fellow subsidiary company来自一间同系附属 公司的管理服务费(i)(1,907)(2,899)
Procurement service fee to ultimate holding company支付予最终控股公司 的采购服务费(ii)6422,145
Procurement service fee to a joint venture支付予一间合营公司 的采购服务费(ii)992—

Tam Jai International Co. Limited Anual Report 2024/25

Notes to the fiNaNcial statemeNts

财务报表附注

(Expresed in Hong Kong dolars unles otherwise indicated) （除非另外指明，否则以港元列示）

29 重大关联方交易（续）

(b) 与其他关联方的交易

附注：

(i) 关联方交易构成上市规则第14A章所界定的

持续关连交易。上市规则第14A章所规定的

披露已载于董事会报告「持续关连交易」一节。

(i) 关联方交易构成上市规则第14A章所界定的

持续关连交易，然而，由于该等交易低于第

14A.76(1)条规定的最低限度，因此获豁免遵

守上市规则第14A章的披露要求。

(c) 收购附属公司

于二零二四年十一月八日，本集团以

总代价4,100,000元收购丸龟制面（香

港）有限公司以及东利多和颐控股有

限公司100%股权。该等公司之主要

业务为在香港经营餐厅及从事投资

控股。

29 MATERIAL RELATED PARTY TRANSACTIONS

(Continued)

(b) Transactions with other related parties

Notes:

(i) The related party transactions constitute continuing conected transactions

as defined in Chapter 14A of the Listing Rules. The disclosures required by

Chapter 14A of the Listing Rules are provided in the section headed “Continuing

Conected Transactions” of the Report of the Directors.

(i) The related party transactions constitute continuing conected transactions as

defined in Chapter 14A of the Listing Rules, however, they are exempt from the

disclosure requirements in Chapter 14A of the Listing Rules as they are below

the de-minimis threshold under Rule 14A.76(1).

(c) Acquisition of subsidiaries

On 8 November 2024, the Group acquired 100% of equity

interest in Marugame (HK) Limited and Toridol and Heyi

Holding Limited, whose principal activities are operation of

restaurants and investment holding in Hong Kong, at a total

consideration of HK$4,100,000.

2025
二零二五年
$’000
千元
Non-current assets非流动资产
Investments in subsidiaries于附属公司的投资229,7809,780
Property, plant and equipment物业、机器及设备4,4237,490
Right-of-use assets使用权资产68,31064,174
Loan to a subsidiary向一间附属公司贷款20,69421,081
Deposits and prepayments按金及预付款项7,4507,894
Deferred tax assets递延税项资产2,2472,238
112,904112,657
Current assets流动资产
Inventories存货3,8543,966
Trade and other receivables贸易及其他应收款项9661,233
Current tax recoverable可收回即期税项7,8055,473
Deposits and prepayments按金及预付款项1,6181,516
Amount due from subsidiaries应收附属公司款项899,626832,159
Cash and bank balances现金及银行结余710,878859,873
1,624,7471,704,220
Current liabilities流动负债
Trade and other payables and accruals贸易及其他应付款项及应计费用10,0826,919
Amount due to subsidiaries应付附属公司款项142,725204,895
Lease liabilities租赁负债3,53213,546
Provisions拨备2,0391,815
158,378227,175
Net current assets流动资产净值1,466,3691,477,045
Total assets less current liabilities总资产减流动负债1,579,2731,589,702

谭仔国际有限公司 2024/25 年报

Notes to the fiNaNcial statemeNts

财务报表附注

(Expresed in Hong Kong dolars unles otherwise indicated) （除非另外指明，否则以港元列示）

30 公司财务状况表30 COMPANY-LEVEL STATEMENT OF FINANCIAL

POSITION

2025
二零二五年
$’000
千元
Non-current liabilities非流动负债
Lease liabilities租赁负债66,11451,016
Provisions拨备9,4429,442
Long service payment obligation长期服务金责任3836
75,59460,494
Net assets资产净值1,503,6791,529,208
Capital and reserves资本及储备24(a)
Share capital股本1,116,7831,116,714
Reserves储备386,896412,494
Total equity attributable to equity shareholders of the Company本公司权益股东应占总权益1,503,6791,529,208

Tam Jai International Co. Limited Anual Report 2024/25

Notes to the fiNaNcial statemeNts

财务报表附注

(Expresed in Hong Kong dolars unles otherwise indicated) （除非另外指明，否则以港元列示）

30 公司财务状况表（续）

由董事会于二零二五年五月九日批准及授

权刊发。

刘达民

董事

陈萍

30 COMPANY-LEVEL STATEMENT OF FINANCIAL

POSITION (Continued)

Aproved and authorised for isue by the board of directors on 9

May 2025.

Lau Tat Man

Directors

Chan Ping, Rita

谭仔国际有限公司 2024/25 年报

Notes to the fiNaNcial statemeNts

财务报表附注

(Expresed in Hong Kong dolars unles otherwise indicated) （除非另外指明，否则以港元列示）

31 年内非调整事项

于二零二五年二月十七日，东利多控股有

限公司及本公司（「要约人」）联合公告，于

二零二五年二月三日，要约人已要求董事

会向计划股东提出一项建议，建议以《公司

条例》第673条项下的计划安排方式将本公

司私有化。

倘计划生效，计划股份将予注销，以换取

要约人就每股计划股份以现金向计划股东

支付注销价1.58港元（减股息调整（如有），

而股份于联交所的上市地位将于生效日期

后撤销。建议及计划须待联合公告所载条

件达成或获豁免（如适用）后，方可实施。

32 直接及最终控股方

于二零二五年三月三十一日，董事认为本

集团的直接母公司为东利多控股有限公

司，其为一间在香港注册成立的私人有

限公司，而本集团的最终控股方为Toridol

Holdings Corporation，其在日本注册成立，

其股份在东京证券交易所上市。Toridol

Holdings Corporation编制的财务报表可供公

众查阅。

31 NON-ADJUSTING EVENT DURING THE YEAR

On 17 February 2025, Toridol Holding Limited and the Company

(“the Oferor”) jointly anounced that on 3 February 2025, the

Oferor requested the Board to put forward a proposal to the

Scheme Shareholders for the privatisation of the Company by way

of a scheme of arangement under Section 673 of the Companies

Ordinance.

If the Scheme becomes efective, the Scheme Shares wil be

canceled in exchange for the payment by the Oferor to the Scheme

Shareholders of the Cancelation Price of HK$1.58 in cash, les the

Dividend Adjustment (if any), for each Scheme Share, and the listing

of the Shares on the Stock Exchange wil be withdrawn after the

Efective Date. The implementation of the Proposal and the Scheme

is subject to the fulfilment or wavier (as aplicable) of Conditions as

set out in the Joint Anouncement.

32 IMEDIATE AND ULTIMATE CONTROLING PARTY

At 31 March 2025, the directors consider the imediate parent

of the Group to be Toridol Holding Limited, which is a private

limited company incorporated in Hong Kong, and the ultimate

controling party of the Group to be Toridol Holdings Corporation,

which is incorporated in Japan with its shares listed on Tokyo

Stock Exchange. Toridol Holdings Corporation produces financial

statements available for public use.

Amendments to HKAS 21, The effects of changes in foreign exchange rates — Lack of exchangeability1 January 2025
香港会计准则第21号（修订本），汇率变动的影响：缺乏可交换性二零二五年一月一日
Amendments to HKFRS 9, Financial instruments and HKFRS 7, Financial instruments: disclosures — Amendments to the classification and measurement of financial instruments1 January 2026
香港财务报告准则第9号（修订本），金融工具及香港财务报告准则第7号（修订本）， 金融工具：披露─对金融工具分类及计量的修订二零二六年一月一日
Annual improvements to HKFRS Accounting Standards — Volume 111 January 2026
香港财务报告准则会计准则年度改进 — 第11卷二零二六年一月一日
HKFRS 18, Presentation and disclosure in financial statements1 January 2027
香港财务报告准则第18号，财务报表列示与披露二零二七年一月一日
HKFRS 19, Subsidiaries without public accountability: disclosures1 January 2027
香港财务报告准则第19号，非公共受托责任附属公司的披露二零二七年一月一日

Tam Jai International Co. Limited Anual Report 2024/25

Notes to the fiNaNcial statemeNts

财务报表附注

(Expresed in Hong Kong dolars unles otherwise indicated) （除非另外指明，否则以港元列示）

33 截至二零二五年三月三十一日止年

度已颁布但尚未生效的修订、新准

则及诠释可能造成的影响

截至该等财务报表刊发日期，香港会计师

公会已颁布多项修订以及一项新准则，有

关修订及准则于截至二零二五年三月三十

一日止年度尚未生效，且并无在财务报表

中采用。该等变动包括下列可能与本集团

有关的项目。

本集团正就该等变动于初步应用期间的预

期影响进行评估。迄今为止，本集团的结

论是采纳上述变动不大可能对本集团的经

营业绩及财务状况造成重大影响。

33 POSIBLE IMPACT OF AMENDMENTS, NEW

STANDARDS AND INTERPRETATIONS ISUED BUT

NOT YET EFECTIVE FOR THE YEAR ENDED 31

MARCH 2025

Up to the date of isue of these financial statements, the HKICPA

has isued a number of amendments, and a new standard, which

are not yet efective for the year ended 31 March 2025 and which

have not ben adopted in these financial statements. These

developments include the folowing which may be relevant to the

Group.

Efective for

acounting periods

begining on or after

于以下日期或之后开

始的会计期间生效

The Group is in the proces of making an asesment of what the

impact of these developments is expected to be in the period of

initial aplication. So far it has concluded that the adoption of them

is unlikely to have a significant impact on the Group’s results of

operations and financial position.

CORPORATE INFORMATION

公司资料

谭仔国际有限公司 2024/25 年报

BOARD OF DIRECTORS

Executive Directors

Mr. Lau Tat Man (Chairman)

Ms. Chan Ping, Rita

Mr. Yeung Siu Cheong

Non-executive Directors

Mr. Someya Norifumi

Mr. Hatomoto Toru (apointed on 20 December 2024)

Mr. Yamaguchi Satoshi (apointed on 15 May 2025)

Mr. Sugiyama Takashi (resigned on 15 May 2025)

Mr. Tomitani Takeshi (resigned on 20 December 2024)

Independent Non-executive Directors

Mr. Le Kwok Ming

Mr. Lo Kwok Wing

Mr. Yeung Yiu Keung

AUTHORISED REPRESENTATIVES

Ms. Chan Ping, Rita

Ms. Sin Man Yan

COMPANY SECRETARY

Ms. Sin Man Yan

AUDIT COMITE

Mr. Le Kwok Ming (Chairman)

Mr. Lo Kwok Wing

Mr. Yeung Yiu Keung

NOMINATION COMITE

Mr. Lau Tat Man (Chairman)

Mr. Le Kwok Ming

Mr. Lo Kwok Wing

Mr. Yeung Yiu Keung

Ms. Chan Ping, Rita (apointed on 27 June 2025)

REMUNERATION COMITE

Mr. Lo Kwok Wing (Chairman)

Mr. Lau Tat Man

Mr. Le Kwok Ming

Mr. Yeung Yiu Keung

董事会

执行董事

刘达民先生（主席）

陈萍女士

杨少昌先生

非执行董事

染谷则史先生

波户本彻先生（于二零二四年十二月二十日获委任）

山口聡先生（于二零二五年五月十五日获委任）

杉山孝史先生（于二零二五年五月十五日辞任）

冨谷武史先生（于二零二四年十二月二十日辞任）

独立非执行董事

李国明先生

卢国荣先生

杨耀强先生

授权代表

陈萍女士

冼文欣女士

公司秘书

冼文欣女士

审核委员会

李国明先生（主席）

卢国荣先生

杨耀强先生

提名委员会

刘达民先生（主席）

李国明先生

卢国荣先生

杨耀强先生

陈萍女士（于二零二五年六月二十七日获委任）

薪酬委员会

卢国荣先生（主席）

刘达民先生

李国明先生

杨耀强先生

Tam Jai International Co. Limited Anual Report 2024/25

CORPORATE INFORMATION

公司资料

公司网站

w.tamjai-intl.com

注册办事处及香港主要办事处

香港

九龙长沙湾长义街9号

D2 Place ONE 8楼

香港股份过户登记处

香港中央证券登记有限公司

香港

皇后大道东183号

合和中心

17楼1712–1716号舖

主要往来银行

中国银行（香港）有限公司

香港中环花园道1号

恒生银行有限公司

香港德辅道中83号

渣打银行（香港）有限公司

香港德辅道中4–4A号32楼

香港上海汇丰银行有限公司

香港皇后大道中1号

核数师

毕马威会计师事务所

会计及财务汇报局条例下之注册

公众利益实体核数师

股份代号

COMPANY WEBSITE

w.tamjai-intl.com

REGISTERED OFICE AND PRINCIPAL PLACE OF

BUSINES IN HONG KONG

8th Flor of D2 Place ONE

No. 9 Cheung Ye Stret, Cheung Sha Wan, Kowlon

Hong Kong

HONG KONG SHARE REGISTRAR

Computershare Hong Kong Investor Services Limited

Shops 1712–1716, 17th Flor

Hopewel Centre

183 Quen’s Road East

Hong Kong

PRINCIPAL BANKERS

Bank of China (Hong Kong) Limited

No. 1 Garden Road Central, Hong Kong

Hang Seng Bank Limited

83 Des Voeux Road Central, Hong Kong

Standard Chartered Bank (Hong Kong) Limited

32/F, 4–4A Des Voeux Road Central, Hong Kong

The Hongkong and Shanghai Bank Corporation Limited

1 Quen’s Road Central, Hong Kong

AUDITOR

KPMG

Public Interest Entity Auditor

registered in acordance with the Acounting and Financial Reporting

Council Ordinance

STOCK CODE

C176382

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