年报

ANUAL REPORT

年

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新

世

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集

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香

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公

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Key audit matter 关键审计事项	How our audit addressed the key audit matter 我们的审计如何处理关键审计事项
Impairment assessment of loan and interest receivables 应收贷款及利息的减值评估
As at 31 March 2025, the Group’s net loan and interest receivables amounted to approximately HK$577,338,000, which represented approximately 29% of the total assets. Provision for impairment losses on loan and interest receivables under the expected credit loss (“ECL”) model amounted to approximately HK$14,677,000. 于二零二五年三月三十一日，贵集团的应收贷款及利息净额约为577,338,000港元，占总资产约 29%。根据预期信用损失（「预期信用损失」）模式，有关应收贷款及利息的减值亏损拨备约为 14,677,000港元。 The measurement of ECLs is inherently subjective and involves significant management judgements and assumptions regarding the probability of default, loss given default, historical delinquency ratio of loan and interest receivables, collateral values and economic indicators on forward-looking information. 计量预期信用损失本质上有主观性，并涉及有关应收贷款及利息的违约概率、违约损失率、历史拖欠比率、抵押品价值，以及有关经济指标的前瞻性信息的重大管理层判断及假设。	We obtained an understanding of the Group’s policy on granting loans to its borrowers and the Group’s credit and impairment assessments including the related credit control and loan monitoring process. We evaluated the reasonableness of management’s loss allowance estimates on loan and interest receivables by examining the information used by management to form such judgements, including testing the accuracy of the historical default data, evaluating whether the historical loss rates were appropriately adjusted based on current conditions and forward- looking information and examining the actual losses recorded during the current financial year and assessing whether there was an indication of management bias when recognising loss allowances. We carried out procedures, on a sample basis, on the settlements made by borrowers during the year and their subsequent settlements with reference to the repayment schedules, and tested the existence and accuracy of the classification of stages of loan and interest receivables applied in the ECL model as at the end of the reporting period. We involved our internal valuation expert to assist us in reviewing the valuation methodology and approach adopted by management in the ECL model. We also considered the adequacy of disclosures in the consolidated financial statements.

As at 31 March 2025, the Group’s net loan and interest receivables amounted to approximately HK$577,338,000, which represented approximately 29% of the total assets. Provision for impairment losses on loan and interest receivables under the expected credit loss (“ECL”) model amounted to approximately HK$14,677,000. 于二零二五年三月三十一日，贵集团的应收贷款及利息净额约为577,338,000港元，占总资产约 29%。根据预期信用损失（「预期信用损失」）模式，有关应收贷款及利息的减值亏损拨备约为 14,677,000港元。 The measurement of ECLs is inherently subjective and involves significant management judgements and assumptions regarding the probability of default, loss given default, historical delinquency ratio of loan and interest receivables, collateral values and economic indicators on forward-looking information. 计量预期信用损失本质上有主观性，并涉及有关应收贷款及利息的违约概率、违约损失率、历史拖欠比率、抵押品价值，以及有关经济指标的前瞻性信息的重大管理层判断及假设。

We obtained an understanding of the Group’s policy on granting loans to its borrowers and the Group’s credit and impairment assessments including the related credit control and loan monitoring process. We evaluated the reasonableness of management’s loss allowance estimates on loan and interest receivables by examining the information used by management to form such judgements, including testing the accuracy of the historical default data, evaluating whether the historical loss rates were appropriately adjusted based on current conditions and forward- looking information and examining the actual losses recorded during the current financial year and assessing whether there was an indication of management bias when recognising loss allowances. We carried out procedures, on a sample basis, on the settlements made by borrowers during the year and their subsequent settlements with reference to the repayment schedules, and tested the existence and accuracy of the classification of stages of loan and interest receivables applied in the ECL model as at the end of the reporting period. We involved our internal valuation expert to assist us in reviewing the valuation methodology and approach adopted by management in the ECL model. We also considered the adequacy of disclosures in the consolidated financial statements.

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

INDEPENDENT AUDITOR’S REPORT

独立核数师报告

KEY AUDIT MATERS (continued)关键审计事项（续）

Key audit matter 关键审计事项	How our audit addressed the key audit matter 我们的审计如何处理关键审计事项
Impairment assessment of loan and interest receivables (continued) 应收贷款及利息的减值评估（续）
The accounting policies and disclosures are included in notes 2.4, 3 and 17 to the consolidated financial statements. 有关会计政策及披露载于综合财务报表附注2.4、3 及17内。	我们就贵集团向其借款人授予贷款以及贵集团信贷及减值评估的政策（包括相关的信贷控制及贷款监察流程）取得了解。我们已透过审查管理层用以形成有关判断的资料（包括测试历史违约数据的准确性）、评估历史损失率是否已根据当前状况及前瞻性信息作出适当调整，以及审查于本财政年度录得的实际损失，以及评估管理层在确认亏损拨备时是否存在偏见的迹象，从而评估管理层对应收贷款及利息的亏损拨备估计的合理性。我们以抽样方式，参照还款时间表，就借款人于本年度内作出的还款以及其后的还款情况执行程序，以及测试于报告期末是否有应用预期信用损失模式对应收贷款及利息进行阶段分类以及其准确性。我们请我们内部的估值专家参与，协助我们审视管理层在预期信用损失模式中所采用的估值方法及方式。我们亦已考虑综合财务报表内的披露是否足够。

Key audit matter 关键审计事项

How our audit addressed the key audit matter 我们的审计如何处理关键审计事项

Impairment assessment of loan and interest receivables (continued) 应收贷款及利息的减值评估（续）

The accounting policies and disclosures are included in notes 2.4, 3 and 17 to the consolidated financial statements. 有关会计政策及披露载于综合财务报表附注2.4、3 及17内。

我们就贵集团向其借款人授予贷款以及贵集团信贷及减值评估的政策（包括相关的信贷控制及贷款监察流程）取得了解。我们已透过审查管理层用以形成有关判断的资料（包括测试历史违约数据的准确性）、评估历史损失率是否已根据当前状况及前瞻性信息作出适当调整，以及审查于本财政年度录得的实际损失，以及评估管理层在确认亏损拨备时是否存在偏见的迹象，从而评估管理层对应收贷款及利息的亏损拨备估计的合理性。我们以抽样方式，参照还款时间表，就借款人于本年度内作出的还款以及其后的还款情况执行程序，以及测试于报告期末是否有应用预期信用损失模式对应收贷款及利息进行阶段分类以及其准确性。我们请我们内部的估值专家参与，协助我们审视管理层在预期信用损失模式中所采用的估值方法及方式。我们亦已考虑综合财务报表内的披露是否足够。

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

INDEPENDENT AUDITOR’S REPORT

独立核数师报告

关键审计事项（续）KEY AUDIT MATERS (continued)

Key audit matter 关键审计事项	How our audit addressed the key audit matter 我们的审计如何处理关键审计事项
Estimation of fair value of investment properties 投资物业的公平价值估计
As at 31 March 2025, investment properties measured at fair value amounted to approximately HK$485,560,000, which represented approximately 24% of the total assets, with the corresponding net fair value losses recognised in profit or loss of approximately HK$69,400,000. The Group engaged external valuers to perform the valuation for the investment properties. The valuation process was inherently subjective, and dependent on a number of significant unobservable inputs, such as the market price per square foot, market rent per square foot and capitalisation rate. 于二零二五年三月三十一日，以公平价值计量的投资物业约为485,560,000港元，相当于总资产约 24%，并相应在损益内确认公平价值亏损净额约 69,400,000港元。贵集团外聘估值师对投资物业进行估值。估值过程本质上有主观性，并且视乎若干重大不可观察输入值，例如每平方呎市场价格、每平方呎市场租金及资本化比率。 The accounting policies and disclosures are included in notes 2.4, 3 and 14 to the consolidated financial statements. 有关会计政策及披露载于综合财务报表附注2.4、3 及14内。	We considered the competence, capability and objectivity of the valuation experts engaged by the Group. We also obtained an understanding of the work of the valuation experts. In addition, we evaluated the appropriateness of the work performed by the valuation experts. This included assessing the relevance, completeness and accuracy of the data used as inputs for the valuation by comparing them to market data if available, and assessing the relevance of the major assumptions and methodologies adopted in the valuation. We also involved our internal valuation experts to assist us in evaluating the assumptions and methodologies for the valuation of the investment properties held by the Group. We also considered the adequacy of disclosures in the consolidated financial statements. 我们已考虑贵集团所委聘的估值专家的能力、技能及客观性。我们也了解过估值专家的工作。此外，我们评估了估值专家所进行的工作是否合适。这包括透过与市场数据（如可取得）进行比较评估用作估值输入值的数据的相关性、完整性及准确性，以及评估估值中所采用的主要假设及方法是否相关。我们亦请我们内部的估值专家参与，协助我们评估贵集团所持有投资物业的估值中之假设及方法。我们亦已考虑综合财务报表内的披露是否足够。

Key audit matter 关键审计事项

How our audit addressed the key audit matter 我们的审计如何处理关键审计事项

Estimation of fair value of investment properties 投资物业的公平价值估计

As at 31 March 2025, investment properties measured at fair value amounted to approximately HK$485,560,000, which represented approximately 24% of the total assets, with the corresponding net fair value losses recognised in profit or loss of approximately HK$69,400,000. The Group engaged external valuers to perform the valuation for the investment properties. The valuation process was inherently subjective, and dependent on a number of significant unobservable inputs, such as the market price per square foot, market rent per square foot and capitalisation rate. 于二零二五年三月三十一日，以公平价值计量的投资物业约为485,560,000港元，相当于总资产约 24%，并相应在损益内确认公平价值亏损净额约 69,400,000港元。贵集团外聘估值师对投资物业进行估值。估值过程本质上有主观性，并且视乎若干重大不可观察输入值，例如每平方呎市场价格、每平方呎市场租金及资本化比率。 The accounting policies and disclosures are included in notes 2.4, 3 and 14 to the consolidated financial statements. 有关会计政策及披露载于综合财务报表附注2.4、3 及14内。

We considered the competence, capability and objectivity of the valuation experts engaged by the Group. We also obtained an understanding of the work of the valuation experts. In addition, we evaluated the appropriateness of the work performed by the valuation experts. This included assessing the relevance, completeness and accuracy of the data used as inputs for the valuation by comparing them to market data if available, and assessing the relevance of the major assumptions and methodologies adopted in the valuation. We also involved our internal valuation experts to assist us in evaluating the assumptions and methodologies for the valuation of the investment properties held by the Group. We also considered the adequacy of disclosures in the consolidated financial statements. 我们已考虑贵集团所委聘的估值专家的能力、技能及客观性。我们也了解过估值专家的工作。此外，我们评估了估值专家所进行的工作是否合适。这包括透过与市场数据（如可取得）进行比较评估用作估值输入值的数据的相关性、完整性及准确性，以及评估估值中所采用的主要假设及方法是否相关。我们亦请我们内部的估值专家参与，协助我们评估贵集团所持有投资物业的估值中之假设及方法。我们亦已考虑综合财务报表内的披露是否足够。

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

INDEPENDENT AUDITOR’S REPORT

独立核数师报告

关键审计事项（续）KEY AUDIT MATERS (continued)

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

INDEPENDENT AUDITOR’S REPORT

独立核数师报告

OTHER INFORMATION INCLUDED IN THE ANUAL

REPORT

The directors of the Company are responsible for the other

information. The other information comprises 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 of the Company are responsible for the

preparation of the consolidated financial statements that give

a true and fair view in acordance with HKFRS Acounting

Standards as isued by the HKICPA and the disclosure

requirements of the Hong Kong Companies Ordinance, and

for such internal control as the directors determine is

necesary to enable the preparation of consolidated financial

statements that are fre from material mistatement, whether

due to fraud or eror.

刊载于年报内的其他资料

贵公司董事需对其他资料负责。其他资料包

括刊载于年报内的资料，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资

料，我们亦不对该等其他资料发表任何形式

的鉴证结论。

结合我们对综合财务报表的审计，我们的责

任是阅读其他资料，在此过程中，考虑其他

资料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，如果我们认为其他资料存在重大错误陈

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

贵公司董事须负责根据香港会计师公会发布

的香港财务报告准则会计准则及香港《公司

条例》的披露规定编制真实而中肯的综合财

务报表，并对其认为使综合财务报表的编

制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。

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

INDEPENDENT AUDITOR’S REPORT

独立核数师报告

RESPONSIBILITIES OF THE DIRECTORS FOR THE

CONSOLIDATED FINANCIAL STATEMENTS (continued)

In preparing the consolidated financial statements, the

directors of the Company 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 of the

Company either intend to liquidate the Group or to cease

operations or have no realistic alternative but to do so.

The directors of the Company are asisted by the Audit

Comite in discharging their responsibilities for overseing

the Group’s financial reporting proces.

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. Our report is made solely to you, as a body, in

acordance with section 90 of the Bermuda Companies Act

1981, 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.

董事就综合财务报表须承担的责任

（续）

在编制综合财务报表时，贵公司董事负责

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，除非贵公司董事有

意将贵集团清盘或停止经营，或别无其他

实际的替代方案。

审核委员会协助贵公司董事履行监督贵

集团的财务报告过程的责任。

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。我们的报告根据百慕达《1981年公司

法》第90条仅为全体股东编制，而并不可作

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。

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

INDEPENDENT AUDITOR’S REPORT

独立核数师报告

AUDITOR’S RESPONSIBILITIES FOR THE AUDIT OF

THE CONSOLIDATED FINANCIAL STATEMENTS

(continued)

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.

核数师就审计综合财务报表承担的

责任（续）

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那些风险，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。

• 评估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。

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

INDEPENDENT AUDITOR’S REPORT

独立核数师报告

AUDITOR’S RESPONSIBILITIES FOR THE AUDIT OF

THE CONSOLIDATED FINANCIAL STATEMENTS

(continued)

’ use of

the going concern basis of acounting and, based on the

audit evidence obtained, whether a material uncertainty

exists related to events or conditions that may cast

significant doubt on the Group’s ability to continue as a

going concern. If we conclude that a material uncertainty

exists, we are required to draw atention in our auditor’s

report to the related disclosures in the consolidated

financial statements or, if such disclosures are

inadequate, to modify our opinion. Our conclusions are

based on the audit evidence obtained up to the date of

our auditor’s report. However, future events or conditions

may cause the Group to cease to continue as a going

concern.

, structure and content of

the consolidated financial statements, including the

disclosures, and whether the consolidated financial

statements represent the underlying transactions and

events in a maner that achieves fair presentation.

• Plan and perform the group audit to obtain suficient

apropriate audit evidence regarding the financial

information of the entities or busines units within the

Group as a basis for forming an opinion on the

consolidated financial statements. We are responsible for

the direction, supervision and review of the audit work

performed for purposes of the group audit. We remain

solely responsible for our audit opinion.

We comunicate with the Audit Comite regarding, among

other maters, the planed scope and timing of the audit and

significant audit findings, including any significant deficiencies

in internal control that we identify during our audit.

核数师就审计综合财务报表承担的

责任（续）

• 对董事采用持续经营会计基础的恰当性

作出结论。根据所获取的审计凭证，确

定是否存在与事项或情况有关的重大不

确定性，从而可能导致对贵集团的持

续经营能力产生重大疑虑。如果我们认

为存在重大不确定性，则有必要在核数

师报告中提请使用者注意综合财务报表

中的相关披露。假若有关的披露不足，

则我们应当发表非无保留意见。我们的

结论是基于核数师报告日止所取得的审

计凭证。然而，未来事项或情况可能导

致贵集团不能持续经营。

、结

构和内容，包括披露，以及综合财务报

表是否中肯反映相关交易和事项。

，以就贵集

团内实体或业务单位的财务资料获取充

足、适当的审计凭证，以作为形成综合

财务报表审计意见的基础。我们负责对

出于贵集团审计目的实施的进行指

导、监督及覆核。我们为审计意见承担

全部责任。

我们与审核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失。

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

INDEPENDENT AUDITOR’S REPORT

独立核数师报告

AUDITOR’S RESPONSIBILITIES FOR THE AUDIT OF

THE CONSOLIDATED FINANCIAL STATEMENTS

(continued)

We also provide the Audit Comite with a statement that

we have complied with relevant ethical requirements regarding

independence and to comunicate with them al relationships

and other maters that may reasonably be thought to bear on

our independence, and where aplicable, actions taken to

eliminate threats or safeguards aplied.

From the maters comunicated with the Audit Comite,

we determine those maters that were of most significance in

the audit of the consolidated financial statements of the

curent period and are therefore the key audit maters. We

describe these maters in our auditor’s report unles law or

regulation precludes public disclosure about the mater or

when, in extremely rare circumstances, we determine that a

mater should not be comunicated in our report because the

adverse consequences of doing so would reasonably be

expected to outweigh the public interest benefits of such

comunication.

The engagement partner on the audit resulting in this

independent auditor’s report is Chau Suet Fung, Dilys

(practicing certificate number: P04199).

Ernst & Young

Certified Public Acountants

27/F, One Taiko Place

979 King’s Road

Quary Bay

Hong Kong

26 June 2025

核数师就审计综合财务报表承担的

责任（续）

我们亦向审核委员会提交声明，说明我们已

符合有关独立性的相关专业道德要求，并与

他们沟通有可能合理地被认为会影响我们独

立性的所有关系和其他事项，以及在适用的

情况下，消除威胁的行动或采取的防范措施。

从与审核委员会沟通的事项中，我们确定那

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，除非法律或规例不允

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。

本独立核数师报告的审计项目合伙人为周雪

凤（执业证书编号：P04199）。

安永会计师事务所

执业会计师

香港

鲗鱼涌

英皇道979号

太古坊一座27楼

二零二五年六月二十六日

2025
二零二五年
HK$’000
千港元
90,263
17,377
(44,531)
–
(69,400)
(2)
(37,059)
(43,352)
(2,671)
(46,023)
–
–
(46,023)
(55,659)
9,636
(46,023)

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

CONSOLIDATED STATEMENT OF PROFIT OR LOS

综合损益表

Year ended 31 March 2025

截至二零二五年三月三十一日止年度

二零二四年

NotesHK$’000

附注千港元

CONTINUING OPERATIONS持续经营业务

REVENUE收入588,291

Other income其他收入515,434

Administrative and operating expenses行政及经营开支(46,731)

Foreign exchange diferences, net汇兑差额，净额(547)

Fair value gains/(loses) on

investment properties, net

投资物业之公平价值

收益╱（亏损），净额1410,149

Finance costs融资成本7(1)

Provision for impairment loses on

loan and interest receivables

and reposesed asets, net

应收贷款及利息以及

抵债资产的减值亏损

拨备，净额17, 20(37,964)

PROFIT/(LOS) BEFORE TAX

FROM CONTINUING OPERATIONS

持续经营业务产生的

除税前溢利╱（亏损）628,631

Income tax expense所得税费用9(2,943)

PROFIT/(LOS) FOR THE YEAR

FROM CONTINUING OPERATIONS

本年度持续经营业务

产生的溢利╱（亏损）25,688

DISCONTINUED OPERATION已终止经营业务

Los for the year from a

discontinued operation

本年度一项已终止

经营业务产生的亏损10(531)

Gain on disposal of a subsidiary出售附属公司的收益319,834

PROFIT/(LOS) FOR THE YEAR本年度溢利╱（亏损）34,991

Atributable to:以下人士应占：

Owners of the Company本公司拥有人22,413

Non-controling interests非控股权益12,578

34,991

2025
二零二五年
HK$’000
千港元
HK(0.96) cent港仙
HK(0.96) cent港仙
HK(0.96) cent港仙
HK(0.96) cent港仙

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

Year ended 31 March 2025

截至二零二五年三月三十一日止年度

CONSOLIDATED STATEMENT OF PROFIT OR LOS (continued)

综合损益表（续）

二零二四年

NoteHK$’000

附注千港元

EARNINGS/(LOS) PER SHARE

ATRIBUTABLE TO ORDINARY EQUITY

HOLDERS OF THE COMPANY

本公司普通股权

持有人应占每股

盈利╱（亏损）12

Basic基本

– For profit/(los) for the year－本年度溢利╱（亏损）HK0.39 cent港仙

– For profit/(los) from

continuing operations

－持续经营业务产生的

溢利╱（亏损）HK0.29 cent港仙

Diluted摊薄

– For profit/(los) for the year－本年度溢利╱（亏损）HK0.39 cent港仙

– For profit/(los) from

continuing operations

－持续经营业务产生的

溢利╱（亏损）HK0.29 cent港仙

2025
二零二五年
HK$’000
千港元
(46,023)
(365)
–
(365)
87
(278)
(46,301)
(55,937)
9,636
(46,301)

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

综合全面收益表

Year ended 31 March 2025

截至二零二五年三月三十一日止年度

二零二四年

NoteHK$’000

附注千港元

PROFIT/(LOS) FOR THE YEAR本年度溢利╱（亏损）34,991

OTHER COMPREHENSIVE INCOME/

(LOS)

其他全面收益╱

（亏损）

Other comprehensive los that

may be reclasified to profit or los

in subsequent periods:

以后期间可能重新

分类至损益的

其他全面亏损：

Exchange diferences:汇兑差额：

Exchange diferences on translation

of foreign operations

换算境外经营业务

产生的汇兑差额(3,415)

Reclasification adjustment for a

foreign operation disposed of

during the year

于本年度出售境外

经营业务的重新

分类调整31(9,487)

Net other comprehensive los that

may be reclasified to profit or los

in subsequent periods

以后期间可能重新

分类至损益的

其他全面亏损净额(12,902)

Other comprehensive income that

wil not be reclasified to profit or

los in subsequent periods:

以后期间将不会重新

分类至损益的

其他全面收益：

Change in fair value of an

equity investment designated

at fair value through other

comprehensive income

指定为按公平价值

计入其他全面收益

的股权投资的公平

价值变动362

OTHER COMPREHENSIVE LOS

FOR THE YEAR, NET OF TAX

本年度其他全面

亏损，扣除税款(12,540)

TOTAL COMPREHENSIVE INCOME/

(LOS) FOR THE YEAR

本年度全面收益╱

（亏损）总额22,451

Atributable to:以下人士应占：

Owners of the Company本公司拥有人13,729

Non-controling interests非控股权益8,722

22,451

2025
二零二五年
HK$’000
千港元
108,348
485,560
3,434
453
71,446
7,534
676,775
1,057
13,583
505,892
9,993
88,249
11,424
–
682,206
1,312,404
8,576
83
3,318
80,000
–
91,977
1,220,427
1,897,202

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

综合财务状况表

31 March 2025

二零二五年三月三十一日

二零二四年

NotesHK$’000

附注千港元

NON-CURENT ASETS非流动资产

Property, plant and equipment物业、厂房及设备13113,429

Investment properties投资物业14555,300

Equity investment designated

at fair value through other

comprehensive income

指定为按公平价值

计入其他全面收益

的股权投资153,347

Prepayments and

other receivables

预付款项及

其他应收账款16445

Loan receivables应收贷款1781,904

Defered tax asets递延税项资产242,002

Total non-curent asets非流动资产总额756,427

CURENT ASETS流动资产

Lease receivables应收租赁款181,242

Amounts due from

security brokers

应收证券经纪商的

款项199,341

Loan and interest receivables应收贷款及利息17642,612

Prepayments, deposits and

other receivables

预付款项、按金及

其他应收账款168,757

Reposesed asets抵债资产2080,982

Equity investments at fair value

through profit or los

按公平价值计入

损益的股权投资2115,375

Tax recoverable可收回税项3,200

Cash and cash equivalents现金及现金等价物22518,251

Total curent asets流动资产总额1,279,760

CURENT LIABILITIES流动负债

Acruals, other payables and

deposits received

应计款项、其他应付

账款及已收按金2310,425

Lease liabilities租赁负债13–

Tax payable应缴税项279

Due to the intermediate

holding company

应付中间控股公司

款项32(b)80,000

Loan advanced from a

non-controling shareholder

of the Group’s subsidiary

本集团附属公司之

非控股东

垫付之贷款32(d)24,087

Total curent liabilities流动负债总额114,791

NET CURENT ASETS流动资产净额1,164,969

TOTAL ASETS LES

CURENT LIABILITIES

总资产减流动

负债1,921,396

2025
二零二五年
HK$’000
千港元
1,209
16,209
73
17,491
1,879,711
14,451
1,491,488
1,505,939
373,772
1,879,711

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

31 March 2025

二零二五年三月三十一日

CONSOLIDATED STATEMENT OF FINANCIAL POSITION (continued)

综合财务状况表（续）

二零二四年

NotesHK$’000

附注千港元

NON-CURENT LIABILITIES非流动负债

Deposits received已收按金232,620

Defered tax liabilities递延税项负债2416,851

Lease liabilities租赁负债13–

Total non-curent liabilities非流动负债总额19,471

Net asets资产净额1,901,925

EQUITY权益

Equity atributable to owners

of the Company

本公司拥有人应占

权益

Isued capital已发行股本2514,451

Reserves储备271,547,425

1,561,876

Non-controling interests非控股权益340,049

Total equity权益总额1,901,925

Ng We KeatSio Ion Kuan

黄伟杰萧润群

ChairmanDeputy Chairman

主席副主席

14,451	354,993	162,587	4,853	2,567	(7,038)	(77,640)	1,107,103	1,561,876	340,049	1,901,925
–	–	–	–	–	–	–	(55,659)	(55,659)	9,636	(46,023)
–	–	–	–	–	(365)	–	–	(365)	–	(365)
–	–	–	–	87	–	–	–	87	–	87
–	–	–	–	87	(365)	–	(55,659)	(55,937)	9,636	(46,301)
–	–	–	–	–	–	–	–	–	24,087	24,087
14,451	354,993*	162,587*	4,853*	2,654*	(7,403)*	(77,640)*	1,051,444*	1,505,939	373,772	1,879,711

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

综合权益变动表

Year ended 31 March 2025

截至二零二五年三月三十一日止年度

Atributable to owners of the Company

本公司拥有人应占

Isued

capital

premium

acount

Contributed

surplus

Aset

revaluation

reserve

Fair value

reserve

Exchange

translation

reserve

Merger

reserve

Retained

profitsTotal

Non-

controling

interests

Total

equity

已发行

股本

股份

溢价账

实缴

盈余

资产重估

储备

公平价值

储备

汇兑

储备

合并

储备

保留

溢利合计

非控股

权益

总额

HK$’000HK$’000HK$’000HK$’000HK$’000HK$’000HK$’000HK$’000HK$’000HK$’000HK$’000

千港元千港元千港元千港元千港元千港元千港元千港元千港元千港元千港元

At 1 April 2024于二零二四年四月一日

Profit/(los) for the year本年度溢利╱（亏损）

Other comprehensive income/

(los) for the year:

本年度其他全面收益╱

（亏损）：

Exchange diferences on

translation of foreign

operations

换算境外经营业务

产生的汇兑

差额

Change in fair value of an

equity investment designated

at fair value through other

comprehensive income

指定为按公平价值

计入其他全面收益

的股权投资的

公平价值变动

Total comprehensive income/

(los) for the year

本年度全面收益╱

（亏损）总额

Demed capital contribution

from a non-controling

shareholder of the Group’s

subsidiary (note 32(d)

被视作本集团附属公司

非控股东之

出资入账

（附注32(d)）

At 31 March 2025于二零二五年三月三十一日

* These reserve acounts comprise the consolidated reserves of

HK$1,491,488,000 (2024: HK$1,547,425,000) in the

consolidated statement of financial position.

* 此等储备账包括于综合财务状况表中的综合

储备1,491,488,000港元（二零二四年：

1,547,425,000港元）。

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

Year ended 31 March 2025

截至二零二五年三月三十一日止年度

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY (continued)

综合权益变动表（续）

Atributable to owners of the Company

本公司拥有人应占

Isued

capital

premium

acount

option

reserve

Contributed

surplus

Aset

revaluation

reserve

Fair value

reserve

Exchange

translation

reserve

Merger

reserve

Retained

profitsTotal

Non-

controling

interests

Total

equity

已发行

股本

股份

溢价账

购股权

储备

实缴

盈余

资产重估

储备

公平价值

储备

汇兑

储备

合并

储备

保留

溢利合计

非控股

权益

总额

HK$’000HK$’000HK$’000HK$’000HK$’000HK$’000HK$’000HK$’000HK$’000HK$’000HK$’000HK$’000

千港元千港元千港元千港元千港元千港元千港元千港元千港元千港元千港元千港元

At 1 April 2023于二零二三年四月一日14,451354,9935,068162,5874,8532,2052,008(77,640)1,079,6221,548,147331,3271,879,474

Profit for the year本年度溢利–22,41322,41312,57834,991

Other comprehensive income/

(los) for the year:

本年度其他全面收益╱

（亏损）：

Exchange diferences on

translation of foreign

operations

换算境外经营业务

产生的汇兑

差额–(3,354)–(3,354)(61)(3,415)

Reclasification adjustment

for a foreign operation

disposed of during

the year (note 31)

于本年度出售

境外经营业务的

重新分类调整

（附注31）–(5,692)–(5,692)(3,795)(9,487)

Change in fair value of an

equity investment designated

at fair value through other

comprehensive income

指定为按公平价值

计入其他全面收益

的股权投资的

公平价值变动–362–362–362

Total comprehensive income/

(los) for the year

本年度全面收益╱

（亏损）总额–362(9,046)–22,41313,7298,72222,451

Transfer of share option

reserve upon lapse of share

options (note 26)

于购股权失效时

转拨购股权

储备（附注26）–(5,068)–5,068–

At 31 March 2024于二零二四年

三月三十一日14,451354,993–162,5874,8532,567(7,038)(77,640)1,107,1031,561,876340,0491,901,925

2025
二零二五年
HK$’000
千港元
(43,352)
–
2
(16,363)
(1,493)
5,262
(4,140)
69,400
–
37,059
46,375
149,479
(4,057)
(1,245)
8,091
(3,258)
(46,627)

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

CONSOLIDATED STATEMENT OF CASH FLOWS

综合现金流量表

Year ended 31 March 2025

截至二零二五年三月三十一日止年度

二零二四年

NotesHK$’000

附注千港元

CASH FLOWS FROM OPERATING ACTIVITIES经营活动之现金流量

Profit/(los) before tax:除税前溢利╱（亏损）：

From continuing operations来自持续经营业务28,631

From a discontinued operation来自一项已

终止经营业务109,303

Adjustments for:就下列各项作出之调整：

Finance costs融资成本71

Bank interest income银行利息收入5(14,982)

Dividend income from

equity investments at fair value

through profit or los

按公平价值计入损益的

股权投资之

股息收入5(185)

Depreciation折旧135,573

Fair value gains on

equity investments at fair value

through profit or los, net

按公平价值计入损益的

股权投资之公平价值

收益，净额5(74)

Fair value loses/(gains) on

investment properties, net

投资物业之公平价值

亏损╱（收益），净额14(10,149)

Gain on disposal of a subsidiary出售附属公司的收益10, 31(9,834)

Provision for impairment loses on

loan and interest receivables

and reposesed asets, net

应收贷款及利息以及

抵债资产的减值亏损

拨备，净额17, 2037,964

46,248

Decrease in loan and interest receivables应收贷款及利息之减少86,502

Increase in lease receivables and amounts

due from security brokers

应收租赁款及应收证券

经纪商的款项之增加(10,199)

Increase in prepayments, deposits and

other receivables

预付款项、按金及其他

应收账款之增加(1,681)

Decrease/(increase) in equity investments

at fair value through profit or los

按公平价值计入损益的

股权投资之减少╱（增加）(15,301)

Increase/(decrease) in acruals,

other payables and deposits received

应计款项、其他应付账款及

已收按金之增加╱（减少）3,976

Increase in reposesed asets抵债资产增加(48,408)

2025
二零二五年
HK$’000
千港元
148,758
16,363
(2)
(2,437)
(169)
1,493
164,006
(12)
–
(395,397)
542,384
–
146,975
(13)
–
(13)

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

Year ended 31 March 2025

截至二零二五年三月三十一日止年度

CONSOLIDATED STATEMENT OF CASH FLOWS (continued)

综合现金流量表（续）

二零二四年

NotesHK$’000

附注千港元

Cash generated from operations经营业务所得之现金61,137

Interest received已收利息14,982

Interest paid已付利息(1)

Hong Kong profits tax paid已付香港利得税(9,871)

Overseas tax paid已付海外税项(222)

Dividend income received from

equity investments at fair value

through profit or los

已收来自按公平价值计入

损益的股权投资

之股息收入185

Net cash flows from

operating activities

经营活动所得之

现金流量净额66,210

CASH FLOWS FROM INVESTING ACTIVITIES投资活动之现金流量

Purchases of items of property,

plant and equipment

购买物业、厂房及

设备项目13(102)

Subsequent expenditure on

an investment property

投资物业的

后续支出14(531)

Placement of non-pledged time deposits

with original maturity of more than

thre months when acquired

存入购入时原定届满期限

超过三个月之无抵押

定期存款(574,672)

Withdrawal of non-pledged time deposits

with original maturity of more than

thre months when acquired

提取购入时原定届满期限

超过三个月之无抵押

定期存款400,121

Net proceds from

disposal of a subsidiary

出售附属公司的

所得款项净额3144,632

Net cash flows from/(used in)

investing activities

投资活动所得╱（所用）之

现金流量净额(130,552)

CASH FLOWS FROM FINANCING ACTIVITIES融资活动之现金流量

Principal portion of lease payments租赁付款额的本金部分33(b)(72)

Repayment of loan advanced from a

non-controling shareholder of the

Group’s subsidiary

偿还本集团附属公司之

非控股东

垫付之贷款(47,736)

Net cash flows used in

financing activities

融资活动所用之现金流量

净额(47,808)

2025
二零二五年
HK$’000
千港元
310,968
275,270
(26)
586,212
30,307
555,905
95,994
682,206
(95,994)
586,212

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

Year ended 31 March 2025

截至二零二五年三月三十一日止年度

CONSOLIDATED STATEMENT OF CASH FLOWS (continued)

综合现金流量表（续）

二零二四年

NoteHK$’000

附注千港元

NET INCREASE/(DECREASE) IN CASH AND

CASH EQUIVALENTS

现金及现金等价物之

增加╱（减少）净额(112,150)

Cash and cash equivalents at

begining of year

于年初之现金及

现金等价物387,597

Efect of foreign exchange rate changes, net外币汇率变动之影响，净额(177)

CASH AND CASH EQUIVALENTS

AT END OF YEAR

于年终之现金及

现金等价物275,270

ANALYSIS OF BALANCES OF CASH AND

CASH EQUIVALENTS

现金及现金等价物之

结存分析

Cash and bank balances现金及银行结存2290,846

Non-pledged time deposits with

original maturity of les than

thre months when acquired

购入时原定届满期限

少于三个月之

无抵押定期存款22184,424

Non-pledged time deposits with

original maturity of more than

thre months when acquired

购入时原定届满期限

超过三个月之

无抵押定期存款22242,981

Cash and cash equivalents as stated

in the consolidated statement

of financial position

综合财务状况表内

所述的现金及

现金等价物518,251

Non-pledged time deposits with

original maturity of more than

thre months when acquired

购入时原定届满期限

超过三个月之

无抵押定期存款22(242,981)

Cash and cash equivalents as stated in the

consolidated statement of cash flows

综合现金流量表内所述的

现金及现金等价物275,270

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

1. CORPORATE AND GROUP INFORMATION

New Century Group Hong Kong Limited is a limited

liability company incorporated in Bermuda. The registered

ofice of the Company is located at Clarendon House, 2

Church Stret, Hamilton HM 11, Bermuda.

The principal activities of the Company comprise

investment holding and securities trading. The principal

activities of its subsidiaries comprise money lending,

property investment and securities trading. During the

prior year, the Group ceased to engage in the provision

of chartering services of cruise ships.

The Company is a subsidiary of New Century Investment

Pacific Limited, a company incorporated in the British

Virgin Islands. New Century Investment Pacific Limited is

an indirect wholy owned subsidiary of Huang Group

(BVI) Limited, a company incorporated in the British

Virgin Islands. In the opinion of the directors, Huang

Group (BVI) Limited, which is beneficialy and wholy

owned by a discretionary trust, is the ultimate holding

company of the Company.

1. 公司及集团资料

新世纪集团香港有限公司是在百慕达

注册成立之有限公司。本公司之注册

办事处位于Clarendon House, 2 Church

Stret, Hamilton HM 11, Bermuda。

本公司之主要业务包括投资控股及证

券买卖。其附属公司之主要业务包括放

债、物业投资及证券买卖。于去年度，

本集团已停止从事提供邮轮租赁服务。

本公司为New Century Investment

Pacific Limited（于英属处女群岛注册成

立之公司）之附属公司。New Century

Investment Pacific Limited乃Huang

Group (BVI) Limited（于英属处女群岛注

册成立之公司）之间接全资附属公司。

董事认为，由一项全权信托实益及全资

拥有之Huang Group (BVI) Limited乃本

公司之最终控股公司。

2025
二零二五年
60
100
100
100
100
100

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

附属公司的资料

本公司主要附属公司之详情如下：

以上所有主要附属公司均由本公司间接

持有。

上表所列之本公司附属公司乃董事认为

对本集团本年度业绩有重大影响或占本

集团净资产主要部分。董事认为，倘列

出其他附属公司之详情，篇幅会过于冗

长。

1. CORPORATE AND GROUP INFORMATION

(continued)

Information about subsidiaries

Particulars of the Company’s principal subsidiaries are as

folows:

Name

Place of

incorporation/

operations

Isued

share capital

Percentage

of equity atributable

to the Group

Principal

activities

名称

注册成立╱

经营地点已发行股本

本集团应占

权益之百分比主要业务

二零二四年

ETC Finance LimitedHong KongHK$700,000,00060Money lending

易提款财务有限公司香港700,000,000港元放债

Gaintech Investment LimitedHong KongHK$2100Property investment

利德投资有限公司香港2港元物业投资

New Century Group HK

investment Pte. Ltd.

Singapore

新加坡

S$1

1坡元

100Property Investment

物业投资

New Century Properties

Investments Limited

Hong Kong

香港

HK$2

2港元

100Property investment

物业投资

新世纪物业投资有限公司

Senic Investment LimitedHong KongHK$2100Property investment

思利投资有限公司香港2港元物业投资

Wise Century Investments Limited

汇新投资有限公司

Hong Kong

香港

HK$1

1港元

100Property investment

物业投资

Al of the above principal subsidiaries are indirectly held

by the Company.

The above table lists the subsidiaries of the Company

which, in the opinion of the directors, principaly afected

the results for the year or formed a substantial portion of

the net asets of the Group. To give details of other

subsidiaries would, in the opinion of the directors, result

in particulars of excesive length.

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

2. 会计政策

2.1 编制基准

本财务报表乃根据香港会计师公会（「香

港会计师公会」）发布之香港财务报告

准则会计准则（包括所有香港财务报告

准则、香港会计准则（「香港会计准则」）

及诠释）及香港《公司条例》之披露规定

而编制。除投资物业、按公平价值计入

损益的股权投资及指定为按公平价值计

入其他全面收益的股权投资乃按公平价

值计量外，本财务报表乃按历史成本准

则编制。除非另外说明，本财务报表以

港元（「港元」）列报，所有金额进位至最

接近的千元。

综合基准

综合财务报表包括本公司及其附属公司

（统称为「本集团」）截至二零二五年三

月三十一日止年度的财务报表。附属公

司指本公司直接或间接控制的实体（包

括结构化实体）。当本集团通过参与被

投资方的相关活动而承担可变回报的风

险或享有可变回报，并且有能力运用对

被投资方的权力（即是使本集团目前有

能力主导被投资方的相关活动的现时权

利）影响该等回报时，即取得控制权。

2. ACOUNTING POLICIES

2.1 Basis of preparation

These financial statements have ben prepared in

acordance with HKFRS Acounting Standards (which

include al Hong Kong Financial Reporting Standards,

Hong Kong Acounting Standards (“HKASs”) and

Interpretations) as isued by the Hong Kong Institute of

Certified Public Acountants (“HKICPA”), and the

disclosure requirements of the Hong Kong Companies

Ordinance. They have ben prepared under the historical

cost convention, except for investment properties, equity

investments at fair value through profit or los and an

equity investment designated at fair value through other

comprehensive income which have ben measured at

fair value. These financial statements are presented in

Hong Kong dolars (“HK$”) and al values are rounded to

the nearest thousand except when otherwise indicated.

Basis of consolidation

The consolidated financial statements include the

financial statements of the Company and its subsidiaries

(colectively refered to as the “Group”) for the year

ended 31 March 2025. A subsidiary is an entity

(including a structured entity), directly or indirectly,

controled by the Company. Control is achieved when the

Group is exposed, or has rights, to variable returns from

its involvement with the investe and has the ability to

afect those returns through its power over the investe

(i.e., existing rights that give the Group the curent ability

to direct the relevant activities of the investe).

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

2.1 编制基准（续）

综合基准（续）

一般而言，推定大多数表决权会带来控

制权。当本公司拥有少于被投资方大多

数的表决或类似权利，在评估其是否拥

有对被投资方的权力时，本集团会考虑

所有相关事实和情况，包括：

(a) 与被投资方其他表决权持有人的合

同安排；

(b) 其他合同安排产生的权利；及

附属公司采用与本公司之财务报表的报

告期间相同，并采用一致的会计政策编

制。附属公司的业绩自本集团取得控制

权之日期起综合，并继续综合附属公司

直至控制权终止。

损益及其他全面收益的各组成部分会归

属于本集团母公司拥有人及非控股权

益，即使此举引致非控股权益结余为负

数。本集团内部各公司之间交易有关的

所有资产及负债、权益、收入、开支及

现金流量于综合账目时全数抵销。

2. ACOUNTING POLICIES (continued)

2.1 Basis of preparation (continued)

Basis of consolidation (continued)

Generaly, there is a presumption that a majority of voting

rights results in control. When the Company has les than

a majority of the voting or similar rights of an investe,

the Group considers al relevant facts and circumstances

in asesing whether it has power over an investe,

including:

(a) the contractual arangement with the other vote

holders of the investe;

(b) rights arising from other contractual arangements;

and

The financial statements of the subsidiaries are prepared

for the same reporting period as the Company, using

consistent acounting policies. The results of subsidiaries

are consolidated from the date on which the Group

obtains control, and continue to be consolidated until the

date that such control ceases.

Profit or los and each component of other comprehensive

income are atributed to the owners of the parent of the

Group and to the non-controling interests, even if this

results in the non-controling interests having a deficit

balance. Al intra-group asets and liabilities, equity,

income, expenses and cash flows relating to transactions

betwen members of the Group are eliminated in ful on

consolidation.

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

2.1 编制基准（续）

综合基准（续）

如果事实及情况显示上文所述控制的三

项元素中一项或多项有变，则本集团会

重新评估其是否仍然控制被投资方。倘

一间附属公司之拥有权益出现变动而

并无导致失去控股权，则有关变动列账

为权益交易。

如果本集团失去了对附属公司的控制

权，将终止确认有关资产（包括商誉）、

负债、任何非控股权益及汇兑储备；并

确认任何保留投资的公平价值及在损益

中产生之任何盈余或亏绌。本集团先前

确认的其他全面收益构成部分应适当地

重新分类计入损益，或保留溢利，基准

与倘若本集团直接出售有关资产或负债

所需者相同。

2. ACOUNTING POLICIES (continued)

2.1 Basis of preparation (continued)

Basis of consolidation (continued)

The Group reaseses whether or not it controls an

investe if facts and circumstances indicate that there are

changes to one or more of the thre elements of control

described above. A change in the ownership interest of a

subsidiary, without a los of control, is acounted for as

an equity transaction.

If the Group loses control over a subsidiary, it

derecognises the related asets (including godwil),

liabilities, any non-controling interest and the exchange

translation reserve; and recognises the fair value of any

investment retained and any resulting surplus or deficit in

profit or los. The Group’s share of components

previously recognised in other comprehensive income is

reclasified to profit or los or retained profits, as

apropriate, on the same basis as would be required if

the Group had directly disposed of the related asets or

liabilities.

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

2.2 更改会计政策及披露

本集团已于本年度的财务报表内首次采

用以下经修订的香港财务报告准则会计

准则。

香港财务报告准则

第16号之修订

售后租回交易的

租赁负债

香港会计准则第1号

之修订

对负债的流动或

非流动分类

（「二零二零年修订」）

香港会计准则第1号

之修订

涉及契诺的非流动负债

（「二零二年修订」）

香港会计准则第7号

及香港财务报告

准则第7号之修订

供应商融资安排

经修订的香港财务报告准则会计准则的

性质及影响在下文描述：

(a) 香港财务报告准则第16号之修订

规定了卖方－承租人在衡量售后租

回交易中产生的租赁负债时所采用

的要求，以确保卖方－承租人不确

认与其保留的使用权相关的任何收

益或亏损。由于本集团在初始应用

香港财务报告准则第16号当日并

无产生任何不取决于某一项指数或

利率计算的可变租赁付款之售后租

回交易，故修订对本集团之财务状

况或表现并无任何影响。

2. ACOUNTING POLICIES (continued)

2.2 Changes in acounting policies and disclosures

The Group has adopted the folowing revised HKFRS

Acounting Standards for the first time for the curent

year’s financial statements.

Amendments to HKFRS 16Lease Liability in a Sale and

Leaseback

Amendments to HKAS 1Clasification of Liabilities as

Curent or Non-curent

(the “2020 Amendments”)

Amendments to HKAS 1Non-curent Liabilities with

Covenants

(the “2022 Amendments”)

Amendments to HKAS 7

and HKFRS 7

Suplier Finance Arangements

The nature and the impact of the revised HKFRS

Acounting Standards are described below:

(a) Amendments to HKFRS 16 specify the requirements

that a seler-lese uses in measuring the lease

liability arising in a sale and leaseback transaction to

ensure the seler-lese does not recognise any

amount of the gain or los that relates to the right of

use it retains. Since the Group has no sale and

leaseback transactions with variable lease payments

that do not depend on an index or a rate ocuring

from the date of initial aplication of HKFRS 16, the

amendments did not have any impact on the

financial position or performance of the Group.

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

2.2 更改会计政策及披露（续）

(b) 二零二零年修订旨在说明将负债分

类为流动或非流动的要求，包括何

谓推迟清偿的权利，以及推迟权利

于报告期末须已存在。负债的分类

不受实体行使推迟清偿的权利的可

能性影响。修订亦澄清负债可以其

本身的股权工具清偿，以及只有在

可转换负债的转换选择权本身作为

股权工具入账时情况下，负债的条

款才不影响其分类。二零二年修

订进一步澄清，在贷款安排产生的

负债的契诺中，只有实体在报告期

末或之前必须遵守的契诺才会影响

负债的流动或非流动分类。修订要

求，如果推迟非流动负债清偿的权

利取决于实体在报告期后12个月

内对未来契诺的遵循情况，须作出

额外披露。

本集团已于二零二三年及二零二四

年四月一日重新评估其负债之条款

及条件，并决定其负债的流动或非

流动分类于初始应用修订时维持不

变。因此，修订对本集团的财务状

况或表现并无任何影响。

告准则第7号之修订澄清供应商融

资安排的特点，并要求须就有关安

排作出额外披露。修订的披露要求

旨在协助财务报表使用者了解供应

商融资安排对实体的负债、现金流

量及流动资金风险的影响。由于本

集团并无供应商融资安排，故修订

对本集团财务报表并无任何影响。

2. ACOUNTING POLICIES (continued)

2.2 Changes in acounting policies and disclosures

(continued)

(b) The 2020 Amendments clarify the requirements for

clasifying liabilities as curent or non-curent,

including what is meant by a right to defer

setlement and that a right to defer must exist at the

end of the reporting period. Clasification of a

liability is unafected by the likelihod that the entity

wil exercise its right to defer setlement. The

amendments also clarify that a liability can be

setled in its own equity instruments, and that only if

a conversion option in a convertible liability is itself

acounted for as an equity instrument would the

terms of a liability not impact its clasification. The

2022 Amendments further clarify that, among

covenants of a liability arising from a loan

arangement, only those with which an entity must

comply on or before the reporting date afect the

clasification of that liability as curent or non-

curent. Aditional disclosures are required for non-

curent liabilities that are subject to the entity

complying with future covenants within 12 months

after the reporting period.

The Group has reasesed the terms and conditions

of its liabilities as at 1 April 2023 and 2024 and

concluded that the clasification of its liabilities as

curent or non-curent remained unchanged upon

initial aplication of the amendments. Acordingly,

the amendments did not have any impact on the

financial position or performance of the Group.

characteristics of suplier finance arangements and

require aditional disclosure of such arangements.

The disclosure requirements in the amendments are

intended to asist users of financial statements in

understanding the efects of suplier finance

arangements on an entity’s liabilities, cash flows

and exposure to liquidity risk. As the Group does not

have suplier finance arangements, the

amendments did not have any impact on the

Group’s financial statements.

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

2.3 已发布但尚未生效之香港财务报告

准则会计准则

本集团尚未于本财务报表采用下列已发

布但尚未生效的新制订和经修订的香港

财务报告准则会计准则。本集团拟于生

效时应用该等新制订和经修订的香港财

务报告准则会计准则（如适用）。

香港财务报告准则第18号财务报表的呈列及披露

香港财务报告准则第19号非公共受托责任

附属公司：披露

香港财务报告准则第9号

及香港财务报告准则

第7号之修订

金融工具分类及计量之修订

香港财务报告准则第9号

及香港财务报告准则

第7号之修订

涉及依赖自然能源生产

电力之合约

香港财务报告准则第10号

及香港会计准则第28号

之修订

投资者与其联营公司或

合营公司之间的资产

出售或注资

香港会计准则第21号

之修订

缺乏可兑换性

香港财务报告准则会计

准则之年度改进—

第11册

香港财务报告准则第1号、

香港财务报告准则第7号、

香港财务报告准则第9号、

香港财务报告准则第10号

及香港会计准则第7号之

修订

于二零二五年一月一日或之后开始之

年度期间生效

于二零二六年一月一日或之后开始之

年度期间生效

于二零二七年一月一日或之后开始之

年度╱报告期间生效

尚未订定强制生效日期，但可供采用

预期适用于本集团的香港财务报告准则

会计准则的进一步资料如下。

2. ACOUNTING POLICIES (continued)

2.3 Isued but not yet efective HKFRS Acounting

Standards

The Group has not aplied the folowing new and revised

HKFRS Acounting Standards, that have ben isued but

are not yet efective, in these financial statements. The

Group intends to aply these new and revised HKFRS

Acounting Standards, if aplicable, when they become

efective.

HKFRS 18Presentation and Disclosure in

Financial Statements

HKFRS 19Subsidiaries without Public

Acountability: Disclosures

Amendments to HKFRS 9 and

HKFRS 7

Amendments to the Clasification

and Measurement of Financial

Instruments

Amendments to HKFRS 9 and

HKFRS 7

Contracts Referencing Nature-

dependent Electricity

Amendments to HKFRS 10 and

HKAS 28

Sale or Contribution of Asets

betwen an Investor and its

Asociate or Joint Venture

Amendments to HKAS 21Lack of Exchangeability

Anual Improvements to HKFRS

Acounting Standards –

Volume 11

Amendments to HKFRS 1, HKFRS 7,

HKFRS 9, HKFRS 10 and HKAS 7

Efective for anual periods begining on or after 1 January

Efective for anual/reporting periods begining on or after

1 January 2027

No mandatory efective date yet determined but available

for adoption

Further information about those HKFRS Acounting

Standards that are expected to be aplicable to the

Group is described below.

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

2.3 已发布但尚未生效之香港财务报告

准则会计准则（续）

香港财务报告准则第18号取代香港会

计准则第1号财务报表之呈列。在沿用

少量变动之香港会计准则第1号部分章

节的同时，香港财务报告准则第18号引

入对呈列损益表之新要求，包括特定总

额及小计。实体需要将损益表内之所有

收入及支出分类为五个类别之一：经营、

投资、融资、所得税及终止经营业务，

并呈列两个新界定之小计。该准则亦要

求在单一附注中披露管理层界定之表现

指标，并引入关于财务报表主体及附注

中资料分组（汇总及分类）及位置之增

强要求。香港会计准则第1号之部分要

求移至香港会计准则第8号会计政策、

会计估计变更及错误，该准则更名为香

港会计准则第8号财务报表之编制基础。

香港财务报告准则第18号颁布后，对香

港会计准则第7号现金流量表、香港会

计准则第33号每股盈利及香港会计准

则第34号中期财务报告作出有限但广

泛适用之修订。此外，已对其他香港财

务报告准则会计准则作出轻微相应修

订。香港财务报告准则第18号及其他香

港财务报告准则会计准则之相应修订于

二零二七年一月一日或之后开始的年度

期间生效，允许提前应用，且须追溯应

用。本集团目前正在分析新要求并评估

香港财务报告准则第18号对本集团财

务报表之呈列及披露的影响。

2. ACOUNTING POLICIES (continued)

2.3 Isued but not yet efective HKFRS Acounting

Standards (continued)

HKFRS 18 replaces HKAS 1 Presentation of Financial

Statements. While a number of sections have ben

brought forward from HKAS 1 with limited changes,

HKFRS 18 introduces new requirements for presentation

within the statement of profit or los, including specified

totals and subtotals. Entities are required to clasify al

income and expenses within the statement of profit or

los into one of the five categories: operating, investing,

financing, income taxes and discontinued operations and

to present two new defined subtotals. It also requires

disclosures about management-defined performance

measures in a single note and introduces enhanced

requirements on the grouping (agregation and

disagregation) and the location of information in both

the primary financial statements and the notes. Some

requirements previously included in HKAS 1 are moved

to HKAS 8 Acounting Policies, Changes in Acounting

Estimates and Erors, which is renamed as HKAS 8

Basis of Preparation of Financial Statements. As a

consequence of the isuance of HKFRS 18, limited, but

widely aplicable, amendments are made to HKAS 7

Statement of Cash Flows, HKAS 33 Earnings per Share

and HKAS 34 Interim Financial Reporting. In adition,

there are minor consequential amendments to other

HKFRS Acounting Standards. HKFRS 18 and the

consequential amendments to other HKFRS Acounting

Standards are efective for anual periods begining on

or after 1 January 2027 with earlier aplication permited.

Retrospective aplication is required. The Group is

curently analysing the new requirements and asesing

the impact of HKFRS 18 on the presentation and

disclosure of the Group’s financial statements.

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

2.3 已发布但尚未生效之香港财务报告

准则会计准则（续）

香港财务报告准则第19号允许合资格

实体选择应用减少之披露要求，同时仍

应用其他香港财务报告准则会计准则中

之确认、计量及呈列要求。有关实体必

须于报告期末为香港财务报告准则第

10号综合财务报表所定义之附属公司，

不得具有公众问责性，并且必须有母公

司（最终或中间）编制符合香港财务报

告准则会计准则且可供公众使用之综合

财务报表，方符合资格。提早应用是允

许的。由于本公司为上市公司，因此不

符合资格选择应用香港财务报告准则第

19号。本公司之部分附属公司正在考虑

在其特定财务报表中应用香港财务报告

准则第19号。

香港财务报告准则第9号及香港财务报

告准则第7号之修订金融工具分类及计

量之修订澄清金融资产或金融负债终

止确认的日期，并引入一项会计政策选

择，即在满足特定条件之情况下，在结

算日期前通过电子支付系统结算之金融

负债可终止确认。修订澄清如何评估具

有环境、社会及管治以及其他类似或然

特征的金融资产之合约现金流量特征。

此外，修订澄清具有无追索权特征及合

约挂勾工具之金融资产分类要求。修订

亦包括指定为按公平价值计入其他全面

收益之权益工具投资及具有或然特征

之金融工具的额外披露。修订须追溯应

用，并在首次应用日期对期初保留溢利

（或权益之其他组成部分）作出调整。毋

须重列过往期间项目，且仅可在不使用

后知之见的情况下重列。允许提前应用

所有修订或仅应用与金融资产分类相关

之修订。预期修订对本集团之财务报表

并无任何重大影响。

2. ACOUNTING POLICIES (continued)

2.3 Isued but not yet efective HKFRS Acounting

Standards (continued)

HKFRS 19 alows eligible entities to elect to aply

reduced disclosure requirements while stil aplying the

recognition, measurement and presentation requirements

in other HKFRS Acounting Standards. To be eligible, at

the end of the reporting period, an entity must be a

subsidiary as defined in HKFRS 10 Consolidated Financial

Statements, canot have public acountability and must

have a parent (ultimate or intermediate) that prepares

consolidated financial statements available for public use

which comply with HKFRS Acounting Standards. Earlier

aplication is permited. As the Company is a listed

company, it is not eligible to elect to aply HKFRS 19.

Some of the Company’s subsidiaries are considering the

aplication of HKFRS 19 in their specified financial

statements.

Amendments to HKFRS 9 and HKFRS 7 Amendments to

the Clasification and Measurement of Financial

Instruments clarify the date on which a financial aset or

financial liability is derecognised and introduce an

acounting policy option to derecognise a financial

liability that is setled through an electronic payment

system before the setlement date if specified criteria are

met. The amendments clarify how to ases the

contractual cash flow characteristics of financial asets

with environmental, social and governance and other

similar contingent features. Moreover, the amendments

clarify the requirements for clasifying financial asets

with non-recourse features and contractualy linked

instruments. The amendments also include aditional

disclosures for investments in equity instruments

designated at fair value through other comprehensive

income and financial instruments with contingent

features. The amendments shal be aplied retrospectively

with an adjustment to opening retained profits (or other

component of equity) at the initial aplication date. Prior

periods are not required to be restated and can only be

restated without the use of hindsight. Earlier aplication

of either al the amendments at the same time or only

the amendments related to the clasification of financial

asets is permited. The amendments are not expected to

have any significant impact on the Group’s financial

statements.

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

2.3 已发布但尚未生效之香港财务报告

准则会计准则（续）

香港财务报告准则第9号及香港财务报

告准则第7号之修订涉及依赖自然能源

生产电力之合约澄清范围内合同「自用」

规定的应用，并修订范围内合同现金流

量对冲关系中被对冲项目的指定规定。

修订本亦包括额外披露，使财务报表使

用者能够了解该等合同对实体财务表现

及未来现金流量的影响。与自用例外情

况相关的修订本应追溯应用。过往期间

毋须重列，并在无需事后确认的情况下

方予重列。与对冲会计相关的修订本应

追溯应用于首次应用之日或之后指定的

新对冲关系。提早应用是允许的。香港

财务报告准则第9号及香港财务报告准

则第7号之修订应同时应用。预期修订

对本集团之财务报表并无任何重大影响。

香港财务报告准则第10号及香港会计

准则第28号之修订旨在解决香港财务

报告准则第10号与香港会计准则第28

号对关于投资者与其联营企业或合营企

业之间资产出售或投入的不同处理规

定。修订要求当出售或投入资产构成一

项业务，则下游交易所产生的收益或亏

损应予全额确认；如果上述资产交易不

构成一项业务，则交易产生的收益或亏

损以其他不相关投资者在联营或合营企

业的利益为限在投资者的损益内进行确

认。修订须按未来适用法应用。香港会

计师公会已移除香港财务报告准则第

10号及香港会计准则第28号之修订的

先前强制生效日期。然而，修订现已可

供采用。

2. ACOUNTING POLICIES (continued)

2.3 Isued but not yet efective HKFRS Acounting

Standards (continued)

Amendments to HKFRS 9 and HKFRS 7 Contracts

Referencing Nature-dependent Electricity clarify the

aplication of the “own-use” requirements for in-scope

contracts and amend the designation requirements for a

hedged item in a cash flow hedging relationship for in-

scope contracts. The amendments also include aditional

disclosures that enable users of financial statements to

understand the efects these contracts have on an entity’s

financial performance and future cash flows. The

amendments relating to the own-use exception shal be

aplied retrospectively. Prior periods are not required to

be restated and can only be restated without the use of

hindsight. The amendments relating to the hedge

acounting shal be aplied prospectively to new hedging

relationships designated on or after the date of initial

aplication. Earlier aplication is permited. The

amendments to HKFRS 9 and HKFRS 7 shal be aplied

at the same time. The amendments are not expected to

have any significant impact on the Group’s financial

statements.

Amendments to HKFRS 10 and HKAS 28 adres an

inconsistency betwen the requirements in HKFRS 10

and in HKAS 28 in dealing with the sale or contribution

of asets betwen an investor and its asociate or joint

venture. The amendments require a ful recognition of a

gain or los resulting from a downstream transaction

when the sale or contribution of asets constitutes a

busines. For a transaction involving asets that do not

constitute a busines, a gain or los resulting from the

transaction is recognised in the investor’s profit or los

only to the extent of the unrelated investor’s interest in

that asociate or joint venture. The amendments are to

be aplied prospectively. The previous mandatory

efective date of amendments to HKFRS 10 and HKAS 28

was removed by the HKICPA. However, the amendments

are available for adoption now.

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

2.3 已发布但尚未生效之香港财务报告

准则会计准则（续）

香港会计准则第21号之修订澄清了实

体应如何评估某种货币是否可兑换为

另一种货币，以及在缺乏可兑换性的情

况下，实体应如何估计量日的即期汇

率。修订要求披露资料，使财务报表使

用者能够了解货币不可兑换的影响。提

早应用是允许的。在应用修订时，实体

不能重述比较资料。初始应用修订的任

何累积影响应在初始应用之日确认为对

保留溢利期初余额的调整或对权益单独

组成部分中累积的货币换算差额的调整

（如适用）。预期修订对本集团之财务报

表并无任何重大影响。

香港财务报告准则会计准则之年度改

进－第11册列明对香港财务报告准则

第1号、香港财务报告准则第7号（及随

附香港财务报告准则第7号应用指引）、

香港财务报告准则第9号、香港财务报

告准则第10号及香港会计准则第7号之

修订。预期适用于本集团之修订详情如

下：

2. ACOUNTING POLICIES (continued)

2.3 Isued but not yet efective HKFRS Acounting

Standards (continued)

Amendments to HKAS 21 specify how an entity shal

ases whether a curency is exchangeable into another

curency and how it shal estimate a spot exchange rate

at a measurement date when exchangeability is lacking.

The amendments require disclosures of information that

enable users of financial statements to understand the

impact of a curency not being exchangeable. Earlier

aplication is permited. When aplying the amendments,

an entity canot restate comparative information. Any

cumulative efect of initialy aplying the amendments

shal be recognised as an adjustment to the opening

balance of retained profits or to the cumulative amount

of translation diferences acumulated in a separate

component of equity, where apropriate, at the date of

initial aplication. The amendments are not expected to

have any significant impact on the Group’s financial

statements.

Anual Improvements to HKFRS Acounting Standards –

Volume 11 set out amendments to HKFRS 1, HKFRS 7

(and the acompanying Guidance on implementing

HKFRS 7), HKFRS 9, HKFRS 10 and HKAS 7. Details of

the amendments that are expected to be aplicable to

the Group are as folows:

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

2.3 已发布但尚未生效之香港财务报告

准则会计准则（续）

披露：修订已更新香港财务报告准

则第7号第B38段及香港财务报告

准则第7号应用指引之第IG1、IG14

及IG20B段之若干措辞，以简化或

与准则之其他段落及╱或其他准则

中使用之概念及术语保持一致。此

外，修订澄清香港财务报告准则第

7号应用指引不一定说明香港财务

报告准则第7号相关段落之所有要

求，亦不会创建额外要求。提早应

用是允许的。预期修订对本集团之

财务报表并无任何重大影响。

修订澄清当承租人根据香港财务报

告准则第9号确定租赁负债已被解

除时，承租人须应用香港财务报告

准则第9号第3.3.3段，并在损益中

确认任何由此产生之收益或亏损。

此外，修订已更新香港财务报告准

则第9号第5.1.3段及附录A之若干

措辞，以消除潜在混淆。提早应用

是允许的。预期修订对本集团之财

务报表并无任何重大影响。

2. ACOUNTING POLICIES (continued)

2.3 Isued but not yet efective HKFRS Acounting

Standards (continued)

: Disclosures: The

amendments have updated certain wording in

paragraph B38 of HKFRS 7 and paragraphs IG1, IG14

and IG20B of the Guidance on implementing HKFRS

7 for the purpose of simplification or achieving

consistency with other paragraphs in the standard

and/or with the concepts and terminology used in

other standards. In adition, the amendments clarify

that the Guidance on implementing HKFRS 7 does

not necesarily ilustrate al the requirements in the

referenced paragraphs of HKFRS 7 nor does it create

aditional requirements. Earlier aplication is

permited. The amendments are not expected to

have any significant impact on the Group’s financial

statements.

: The amendments

clarify that when a lese has determined that a

lease liability has ben extinguished in acordance

with HKFRS 9, the lese is required to aply

paragraph 3.3.3 of HKFRS 9 and recognise any

resulting gain or los in profit or los. In adition, the

amendments have updated certain wording in

paragraph 5.1.3 of HKFRS 9 and Apendix A of

HKFRS 9 to remove potential confusion. Earlier

aplication is permited. The amendments are not

expected to have any significant impact on the

Group’s financial statements.

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

2.3 已发布但尚未生效之香港财务报告

准则会计准则（续）

• 香港财务报告准则第10号综合财

务报表：修订澄清香港财务报告准

则第10号第B74段所述之关系只是

投资者与作为投资者事实代理人的

其他方之间可能存在的各种关系的

一个例子，从而移除了与香港财务

报告准则第10号第B73段要求的不

一致部分。提早应用是允许的。预

期修订对本集团之财务报表并无任

何重大影响。

继先前删除「成本法」之定义后，修

订在香港会计准则第7号第37段中

将「成本法」一词替换为「按成本」。

提早应用是允许的。预期修订对本

集团的财务报表并无任何影响。

2. ACOUNTING POLICIES (continued)

2.3 Isued but not yet efective HKFRS Acounting

Standards (continued)

: The

amendments clarify that the relationship described

in paragraph B74 of HKFRS 10 is just one example

of various relationships that might exist betwen the

investor and other parties acting as de facto agents

of the investor, which removes the inconsistency

with the requirement in paragraph B73 of HKFRS

10. Earlier aplication is permited. The

amendments are not expected to have any

significant impact on the Group’s financial

statements.

: The amendments

replace the term “cost method” with “at cost” in

paragraph 37 of HKAS 7 folowing the prior deletion

of the definition of “cost method”. Earlier aplication

is permited. The amendments are not expected to

have any impact on the Group’s financial

statements.

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

2.4 重要会计政策

公平价值计量

本集团在各报告期末按公平价值计量其

投资物业及股权投资。公平价值是指市

场参与者在计量日的有秩序交易中，出

售一项资产所能收到或者转移一项负债

所需支付的价格。公平价值计量乃基于

出售资产或者转移负债的交易在相关资

产或负债的主要市场进行，或在不存在

主要市场的情况下，则在相关资产或负

债的最有利市场进行的假定。主要市场

（或最有利市场）应当是本集团能够进入

的市场。资产或负债的公平价值乃基于

市场参与者在对该资产或负债定价时（假

设市场参与者以实现其经济利益最大化

的方式行事）所采用的假设计量。

非金融资产的公平价值计量会考虑市场

参与者透过以最大限度使用该资产达致

最佳用途，或透过将该资产出售给能够

以最大限度使用该资产达致最佳用途的

其他市场参与者产生经济效益的能力。

本集团采用在当前情况下适用并且有充

足数据可供计量公平价值的估值技术，

尽量使用相关可观察输入值及尽量减少

使用不可观察输入值。

2. ACOUNTING POLICIES (continued)

2.4 Material acounting policies

Fair value measurement

The Group measures its investment properties and equity

investments at fair value at the end of each reporting

period. Fair value is the price that would be received to

sel an aset or paid to transfer a liability in an orderly

transaction betwen market participants at the

measurement date. The fair value measurement is based

on the presumption that the transaction to sel the aset

or transfer the liability takes place either in the principal

market for the aset or liability, or in the absence of a

principal market, in the most advantageous market for

the aset or liability. The principal or the most

advantageous market must be acesible by the Group.

The fair value of an aset or a liability is measured using

the asumptions that market participants would use when

pricing the aset or liability, asuming that market

participants act in their economic best interest.

A fair value measurement of a non-financial aset takes

into acount a market participant’s ability to generate

economic benefits by using the aset in its highest and

best use or by seling it to another market participant that

would use the aset in its highest and best use.

The Group uses valuation techniques that are apropriate

in the circumstances and for which suficient data are

available to measure fair value, maximising the use of

relevant observable inputs and minimising the use of

unobservable inputs.

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

2.4 重要会计政策（续）

公平价值计量（续）

在财务报表内计量或披露公平价值的所

有资产及负债，均根据对公平价值计量

整体而言属重大的最低层次输入值分类

为下述公平价值层次：

第一层次－基于相同资产或负债在活

跃市场上的报价（未经调

整）

第二层次－基于对公平价值计量而言

属重大的最低层次输入值

乃直接或间接可观察的估

值技术

第三层次－基于对公平价值计量而言

属重大的最低层次输入值

乃不可观察的估值技术

就按经常基准于财务报表确认的资产及

负债而言，本集团透过于各报告期末（按

对公平价值计量整体而言属重大意义的

最低层次输入值）重新评估分类，以决

定层次制度中各个层次间是否有转换。

2. ACOUNTING POLICIES (continued)

2.4 Material acounting policies (continued)

Fair value measurement (continued)

Al asets and liabilities for which fair value is measured

or disclosed in the financial statements are categorised

within the fair value hierarchy, described as folows,

based on the lowest level input that is significant to the

fair value measurement as a whole:

Level 1–based on quoted prices (unadjusted) in active

markets for identical asets or liabilities

Level 2–based on valuation techniques for which the

lowest level input that is significant to the fair

value measurement is observable, either

directly or indirectly

Level 3–based on valuation techniques for which the

lowest level input that is significant to the fair

value measurement is unobservable

For asets and liabilities that are recognised in the

financial statements on a recuring basis, the Group

determines whether transfers have ocured betwen

levels in the hierarchy by reasesing categorisation

(based on the lowest level input that is significant to the

fair value measurement as a whole) at the end of each

reporting period.

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

2.4 重要会计政策（续）

非金融资产之减值

倘有迹象显示出现减值，或需要进行年

度资产减值测试时（存货、合约资产、

递延税项资产、金融资产、投资物业除

外），则会估计资产之可收回金额。资

产之可收回金额为资产或现金产生单位

之使用价值及其公平价值（两者中之较

高者）减出售成本，并以个别资产厘定，

除非资产并无产生现金流入，而现金流

入大多独立于其他资产或资产组合，则

在此情况下，可收回金额乃以资产所属

之现金产生单位厘定。

就现金产生单位进行减值测试时，如果

可以合理和一致的基础作出分配，则公

司资产（例如：总部大楼）的部分账面金

额会分配至个别现金产生单位，否则，

其会分配至最小的现金产生单位组。

只有在资产账面金额超逾其可收回金额

之情况下，方会确认减值亏损。评估使

用价值时，估计未来现金流量按可反映

现时市场评估的货币时间价值及资产特

有风险的除税前折现率折现至其现值。

减值亏损于其出现期间按与减值资产的

功能一致的开支类别在损益内扣除。

2. ACOUNTING POLICIES (continued)

2.4 Material acounting policies (continued)

Impairment of non-financial asets

Where an indication of impairment exists, or when anual

impairment testing for an aset is required (other than

inventories, contract asets, defered tax asets, financial

asets, investment properties), the aset’s recoverable

amount is estimated. An aset’s recoverable amount is

the higher of the aset’s or cash-generating unit’s value in

use and its fair value les costs of disposal, and is

determined for an individual aset, unles the aset does

not generate cash inflows that are largely independent of

those from other asets or groups of asets, in which

case the recoverable amount is determined for the cash-

generating unit to which the aset belongs.

In testing a cash-generating unit for impairment, a portion

of the carying amount of a corporate aset (e.g., a

headquarters building) is alocated to an individual cash-

generating unit if it can be alocated on a reasonable and

consistent basis or, otherwise, to the smalest group of

cash-generating units.

An impairment los is recognised only if the carying

amount of an aset exceds its recoverable amount. 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. An impairment los is charged to profit or los in

the period in which it arises in those expense categories

consistent with the function of the impaired aset.

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

2.4 重要会计政策（续）

非金融资产之减值（续）

于各报告期末均会评估是否有迹象显示

于之前确认之减值亏损不再存在或可能

已减少。倘出现该等迹象，则会估计可

收回金额。若厘定资产可收回金额之估

计出现改变时，之前确认之资产减值亏

损（商誉除外）方会拨回，惟拨回后之金

额不得高于假设过往年度并未就资产确

认减值亏损而应有之账面金额（扣除任

何折旧╱摊销）。该减值亏损之拨回计

入出现期间之损益，除非资产乃按重估

值列账，在此情况下，减值亏损之拨回

按涉及重估资产之有关会计政策列账。

关联方

倘属下列情况，一方被视为与本集团有

关：

(a) 该方是一名人士或该人士家庭之近

亲，及该人士

(i) 对本集团拥有控制权或共同

控制权；

(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

主要管理人员的成员；

或

2. ACOUNTING POLICIES (continued)

2.4 Material acounting policies (continued)

Impairment of non-financial asets (continued)

An asesment is made at the end of each reporting

period as to whether there is an indication that previously

recognised impairment loses may no longer exist or may

have decreased. If such an indication exists, the

recoverable amount is estimated. A previously recognised

impairment los of an aset other than godwil is

reversed only if there has ben a change in the estimates

used to determine the recoverable amount of that aset,

but not to an amount higher than the carying amount

that would have ben determined (net of any

depreciation/amortisation) had no impairment los ben

recognised for the aset in prior years. A reversal of such

an impairment los is credited to profit or los in the

period in which it arises, unles the aset is caried at a

revalued amount, in which case the reversal of the

impairment los is acounted for in acordance with the

relevant acounting policy for that revalued aset.

Related parties

A party is considered to be related to the Group if:

(a) the party is a person or a close member of that

person’s family and that person

(i) has control or joint control over the Group;

(i) has significant influence over the Group; or

(i) is a member of the key management personel

of the Group or of a parent of the Group;

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

2.4 重要会计政策（续）

关联方（续）

(b) 该方是实体且符合以下任何条件：

(i) 该实体和本集团是同一集团

的成员；

(i) 一实体是另一实体（或是该另

一实体的母公司、附属公司

或同系附属公司）的联营公司

或合营公司；

(i) 该实体和本集团都是相同第

三方的合营公司；

(iv) 一实体是第三方的合营公司，

并且另一实体是该第三方的

联营公司；

(v) 该实体是为本集团或与本集

团关联的实体的雇员福利而

设的离职后福利计划；

(vi) 该实体受第(a)项所述之人士

控制或共同控制；

(vi) 于(a)(i)项所述的人士对该实

体实施重大影响或是该实体

（或其母公司）主要管理人员

的成员；及

(vi) 该实体或其所属集团的任何

成员公司向本集团或本集团

的母公司提供主要管理人员

服务。

2. ACOUNTING POLICIES (continued)

2.4 Material acounting policies (continued)

Related parties (continued)

(b) the party is an entity where any of the folowing

conditions aplies:

(i) the entity and the Group are members of the

same group;

(i) one entity is an asociate or joint venture of

the other entity (or of a parent, subsidiary or

felow subsidiary of the other entity);

(i) the entity and the Group are joint ventures of

the same third party;

(iv) one entity is a joint venture of a third entity

and the other entity is an asociate of the third

entity;

(v) the entity is a post-employment benefit plan

for the benefit of employes of either the

Group or an entity related to the Group;

(vi) the entity is controled or jointly controled by

a person identified in (a);

(vi) a person identified in (a)(i) has significant

influence over the entity or is a member of the

key management personel of the entity (or of

a parent of the entity); and

(vi) the entity, or any member of a group of which

it is a part, provides key management

personel services to the Group or to the

parent of the Group.

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

2.4 重要会计政策（续）

物业、厂房及设备及折旧

物业、厂房及设备乃按成本减累积折旧

及任何减值亏损列账。物业、厂房及设

备项目之成本包括其购买价及任何将资

产达致其现有运作状况及地点作拟定用

途之直接成本。

在物业、厂房及设备项目投入运作后产

生之支出，如维修与保养等，一般于产

生期间自损益中扣除。如果符合确认准

则，重大检查的支出会于资产账面金额

资本化作为替换。如果物业、厂房及设

备的主要部分须定期替换，本集团会确

认有关部分为独立资产，其具有特定的

使用年期及据此折旧。

各物业、厂房及设备项目之折旧按其估

计可使用年期以直线法撇销其成本至其

剩余价值计算（惟汽车采用余额递减法

计算除外）。所用之主要年率如下：

楼宇2%至4%

租赁物业装修33

家私、装置及设备10%至15%

汽车20%

2. ACOUNTING POLICIES (continued)

2.4 Material acounting policies (continued)

Property, plant and equipment and depreciation

Property, plant and equipment are stated at cost les

acumulated depreciation and any impairment loses.

The cost of an item of property, plant and equipment

comprises its purchase price and any directly atributable

costs of bringing the aset to its working condition and

location for its intended use.

Expenditure incured after items of property, plant and

equipment have ben put into operation, such as repairs

and maintenance, is normaly charged to profit or los in

the period in which it is incured. In situations where the

recognition criteria are satisfied, the expenditure for a

major inspection is capitalised in the carying amount of

the aset as a replacement. Where significant parts of

property, plant and equipment are required to be

replaced at intervals, the Group recognises such parts as

individual asets with specific useful lives and depreciates

them acordingly.

Depreciation is calculated on the straight-line basis, with

the exception of motor vehicles which are calculated on

the reducing-balance basis, to write of the cost of each

item of property, plant and equipment to its residual

value over its estimated useful life. The principal anual

rates used for this purpose are as folows:

Buildings2% to 4%

Leasehold improvements33

Furniture, fixtures and equipment10% to 15%

Motor vehicles20%

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

2.4 重要会计政策（续）

物业、厂房及设备及折旧（续）

当物业、厂房及设备项目之各部分具有

不同之可使用年期，该项目之成本依照

合理之基准分配予各部分，而每部分会

分开折旧。剩余价值、可使用年期及折

旧方法会最少于各财政年度结算日检讨

及调整（如适用）。

物业、厂房及设备项目（包括初始确认

的任何重大部分）在出售时或预期日后

使用或出售项目时不再带来经济效益

时，终止确认。于终止确认资产之年度

内在损益中确认出售或报废之任何收益

或亏损，指出售所得款项净额与相关资

产账面金额之差额。

投资物业

投资物业乃于持作赚取租金收入及╱或

资本增值。该等物业初步按成本（包括

交易成本）计量。于初始确认后，投资

物业按反映于报告期末之市况之公平价

值列账。

因投资物业公平价值变动而产生之收益

或亏损于产生年度之损益中列账。

2. ACOUNTING POLICIES (continued)

2.4 Material acounting policies (continued)

Property, plant and equipment and depreciation

(continued)

Where parts of an item of property, plant and equipment

have diferent useful lives, the cost of that item is

alocated on a reasonable basis among the parts and

each part is depreciated separately. Residual values,

useful lives and the depreciation method are reviewed,

and adjusted if apropriate, at least at each financial year

end.

An item of property, plant and equipment including any

significant part initialy recognised is derecognised upon

disposal or when no future economic benefits are

expected from its use or disposal. Any gain or los on

disposal or retirement recognised in profit or los in the

year the aset is derecognised is the diference betwen

the net sales proceds and the carying amount of the

relevant aset.

Investment properties

Investment properties are interests in land and buildings

held to earn rental income and/or for capital apreciation.

Such properties are measured initialy at cost, including

transaction costs. Subsequent to initial recognition,

investment properties are stated at fair value, which

reflects market conditions at the end of the reporting

period.

Gains or loses arising from changes in the fair values of

investment properties are included in profit or los in the

year in which they arise.

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

2.4 重要会计政策（续）

投资物业（续）

报废或出售投资物业之任何收益或亏损

于报废或出售年度之损益中确认。

将投资物业转换成拥有人自用物业，进

行后续会计处理的物业的推定成本为其

改变用途之日的公平价值。如果本集团

拥有人自用物业转换成投资物业，就拥

有人自用物业而言，则本集团根据「物

业、厂房及设备及折旧」下规定的政策

对该物业进行会计处理直至其用途改变

之日，及╱或就使用权资产而言，则本

集团根据「使用权资产」所述的政策对

该物业进行会计处理直至其用途改变之

日，在用途改变之日该项物业的账面金

额与其公平价值之间的任何差额采用上

文「物业、厂房及设备及折旧」会计政策

中价值重估相同的会计方式处理。

租赁

在合约开始时，本集团评估合约是否为

租赁或包含租赁。如果合约让渡在一段

时间内被识别资产使用的控制权以换取

代价，则合约为租赁或包含租赁。

2. ACOUNTING POLICIES (continued)

2.4 Material acounting policies (continued)

Investment properties (continued)

Any gains or loses on the retirement or disposal of an

investment property are recognised in profit or los in the

year of the retirement or disposal.

For a transfer from investment properties to owner-

ocupied properties, the demed cost of a property for

subsequent acounting is its fair value at the date of

change in use. If a property ocupied by the Group as an

owner-ocupied property becomes an investment

property, the Group acounts for such property in

acordance with the policy stated under “Property, plant

and equipment and depreciation” for owned property

and/or acounts for such property in acordance with the

policy stated under “Right-of-use asets” for property held

as a right-of-use aset up to the date of change in use,

and any diference at that date betwen the carying

amount and the fair value of the property is acounted

for as a revaluation in acordance with the policy stated

under “Property, plant and equipment and depreciation”

above.

Leases

The Group aseses at contract inception whether a

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.

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

2.4 重要会计政策（续）

租赁（续）

本集团作为承租人

本集团对所有租赁应用单一确认和计量

方法，惟短期租赁除外。本集团确认作

出租赁付款额的租赁负债，以及代表相

关资产使用权的使用权资产。

(a) 使用权资产

在租赁期开始日（即相关资产可供

使用的日期），承租人确认使用权

资产。使用权资产以成本计量，并

减去累计折旧和减值亏损，同时根

据租赁负债的重新计量进行调整。

使用权资产的成本包括租赁负债的

确认金额，发生的初始直接费用，

以及在租赁期开始日或之前支付

的租赁付款额，扣除收到的租赁激

励。在租赁期和资产估计使用年期

较短者按照直线法对使用权资产计

提折旧如下：

租赁土地23至44年

楼宇2至3年

如果租赁资产的所有权于租赁期结

束时转移予本集团或成本反映会行

使购买选择权，则使用资产估计使

用年限计算折旧。

2. ACOUNTING POLICIES (continued)

2.4 Material acounting policies (continued)

Leases (continued)

Group as a lese

The Group aplies a single recognition and measurement

aproach for al leases, except for short-term leases. The

Group recognises lease liabilities to make lease payments

and right-of-use asets representing the right to use the

underlying asets.

(a) Right-of-use asets

Right-of-use asets are recognised at the comencement

date of the lease (that is the date the underlying

aset is available for use). Right-of-use asets are

measured at cost, les acumulated depreciation

and any impairment loses, and adjusted for any

remeasurement of lease liabilities. The cost of right-

of-use asets includes the amount of lease liabilities

recognised, initial direct costs incured, and lease

payments made at or before the comencement

date les any lease incentives received. Right-of-use

asets are depreciated on a straight-line basis over

the shorter of the lease terms and the estimated

useful lives of the asets as folows:

Leasehold land23 to 44 years

Buildings2 to 3 years

If ownership of the leased aset transfers to the

Group by the end of the lease term or the cost

reflects the exercise of a purchase option,

depreciation is calculated using the estimated useful

life of the aset.

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

2.4 重要会计政策（续）

租赁（续）

本集团作为承租人（续）

(b) 租赁负债

在租赁期开始日，租赁负债以将于

租赁期内作出的租赁付款额的现值

计量。租赁付款额包括固定付款额

（包括实质固定付款额），扣除应

收的租赁激励，取决于指数或比率

的可变租赁付款额，以及根据余值

担保预计应付的金额。该租赁付款

额还包含本集团合理确定将会行使

的购买选择权的行权价，以及在租

赁期反映出本集团将行使终止租赁

选择权时终止租赁的罚款金额。非

取决于指数或比率的可变租赁付款

额在触发该付款的事件或情况发生

当期确认为费用。

在计算租赁付款额的现值时，由于

无法直接确定租赁内含利率，本集

团采用其于租赁期开始日的增量借

款利率进行计量。于开始日之后，

租赁负债的金额会增加，以反映利

息的增加，并就作出的租赁付款减

少。另外，如有租赁条款变更、租

赁期的变化、租赁付款额的变化（例

如：指数或比率的变化导致的未来

租赁付款额的变化）或购买相关资

产选择权的评估结果的变化，本集

团应重新计量租赁负债的账面金额。

2. ACOUNTING POLICIES (continued)

2.4 Material acounting policies (continued)

Leases (continued)

Group as a lese (continued)

(b) Lease liabilities

Lease liabilities are recognised at the comencement

date of the lease at the present value of lease

payments to be made over the lease term. The

lease payments include fixed payments (including

in-substance fixed payments) les any lease

incentives receivable, variable lease payments that

depend on an index or a rate, and amounts

expected to be paid under residual value

guarantes. The lease payments also include the

exercise price of a purchase option reasonably

certain to be exercised by the Group and payments

of penalties for termination of a lease, if the lease

term reflects the Group exercising the option to

terminate the lease. The variable lease payments

that do not depend on an index or a rate are

recognised as an expense in the period in which the

event or condition that trigers the payment ocurs.

In calculating the present value of lease payments,

the Group uses its incremental borowing rate at the

lease comencement date because the interest rate

implicit in the lease is not readily determinable. After

the comencement date, the amount of lease

liabilities is increased to reflect the acretion of

interest and reduced for the lease payments made.

In adition, the carying amount of lease liabilities is

remeasured if there is a modification, a change in

the lease term, a change in lease payments (e.g., a

change to future lease payments resulting from a

change in an index or rate) or a change in

asesment of an option to purchase the underlying

aset.

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

2.4 重要会计政策（续）

租赁（续）

本集团作为承租人（续）

本集团将短期租赁确认豁免应用

于其泊车位、办公室设备及公共空

间的短期租赁（即在租赁期开始日，

租赁期为12个月或更短期间的租

赁，且不包含购买选择权）。

短期租赁的租赁付款额在租赁期内

按照直线法确认为费用。

本集团作为出租人

当本集团为出租人，其于租赁开始时（或

于出现租赁修改时）将其各租赁分类为

经营租赁或融资租赁。

本集团并无将资产拥有权附带的绝大部

分风险和报酬转移的租赁归类为经营

租赁。如果一项合约包含租赁组成部分

以及非租赁组成部分，则本集团按照每

个组成部分的相对单独售价分配合约中

的代价予每个组成部分。基于其经营性

质，租金收入在租赁期内按照直线法入

账，并包括在损益内的收入。于磋商及

安排经营租赁时发生的初始直接费用加

入租赁资产的账面金额，并在租赁期内

按与租金收入相同的基准确认。或有租

金在赚取的期间确认为收入。

2. ACOUNTING POLICIES (continued)

2.4 Material acounting policies (continued)

Leases (continued)

Group as a lese (continued)

The Group aplies the short-term lease recognition

exemption to its short-term leases of car parking

spaces, ofice equipment and public space (that is

those leases that have a lease term of 12 months or

les from the comencement date and do not

contain a purchase option).

Lease payments on short-term leases are recognised

as an expense on a straight-line basis over the lease

term.

Group as a lesor

When the Group acts as a lesor, it clasifies at lease

inception (or when there is a lease modification) each of

its leases as either an operating lease or a finance lease.

Leases in which the Group does not transfer substantialy

al the risks and rewards incidental to ownership of an

aset are clasified as operating leases. When a contract

contains lease and non-lease components, the Group

alocates the consideration in the contract to each

component on a relative stand-alone seling price basis.

Rental income is acounted for on a straight-line basis

over the lease term and is included in revenue in profit

or los due to its operating nature. Initial direct costs

incured in negotiating and aranging an operating lease

are aded to the carying amount of the leased aset and

recognised over the lease term on the same basis as

rental income. Contingent rents are recognised as

revenue in the period in which they are earned.

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

2.4 重要会计政策（续）

租赁（续）

本集团作为出租人（续）

将相关资产拥有权附带的绝大部分风险

和报酬转移予承租人的租赁作为融资租

赁入账。

投资及其他金融资产

初始确认和计量

在初始确认时，金融资产分类为后续以

摊销成本计量、按公平价值计入其他全

面收益以及按公平价值计入损益。

金融资产于初始确认时的分类取决于金

融资产的合约现金流量特征以及本集团

管理金融资产的业务模式。除未包含重

大融资成分或本集团已应用便于实务操

作的方法不就重大融资成分的影响作出

调整的应收贸易账款外，本集团初始以

其公平价值计量金融资产，如果不是按

公平价值计入损益的金融资产，则还应

加上交易费用。

金融资产如要分类为以摊销成本计量或

按公平价值计入其他全面收益，其产生

的现金流量须仅为对本金和以未偿付本

金额为基础的利息的支付（「仅为对

本金和利息的支付」）。现金流量并非仅

为对本金和利息的支付的金融资产分类

为及按公平价值计入损益而不论业务模

式为何。

2. ACOUNTING POLICIES (continued)

2.4 Material acounting policies (continued)

Leases (continued)

Group as a lesor (continued)

Leases that transfer substantialy al the risks and rewards

incidental to ownership of an underlying aset to the

lese are acounted for as finance leases.

Investments and other financial asets

Initial recognition and measurement

Financial asets are clasified, at initial recognition, as

subsequently measured at amortised cost, fair value

through other comprehensive income, and fair value

through profit or los.

The clasification of financial asets at initial recognition

depends on the financial aset’s contractual cash flow

characteristics and the Group’s busines model for

managing them. With the exception of trade receivables

that do not contain a significant financing component or

for which the Group has aplied the practical expedient

of not adjusting the efect of a significant financing

component, the Group initialy measures a financial aset

at its fair value, plus in the case of a financial aset not at

fair value through profit or los, transaction costs.

In order for a financial aset to be clasified and

measured at amortised cost or fair value through other

comprehensive income, it neds to give rise to cash

flows that are solely payments of principal and interest

(“SPI”) on the principal amount outstanding. Financial

asets with cash flows that are not SPI are clasified and

measured at fair value through profit or los, irespective

of the busines model.

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

2.4 重要会计政策（续）

投资及其他金融资产（续）

初始确认和计量（续）

本集团管理金融资产的业务模式，是指

如何管理金融资产以产生现金流量。业

务模式决定现金流量的来源是收取合

约现金流量、出售金融资产还是两者兼

有。如果管理该金融资产的业务模式是

以收取合约现金流量为目标，金融资产

会分类为及以摊销成本计量。如果管理

该金融资产的业务模式既以收取合约现

金流量为目标又以出售该金融资产为目

标，金融资产会分类为及按公平价值计

入其他全面收益。并非在上述业务模式

持有的金融资产分类为及按公平价值计

入损益。

需要在一般由规例或市场惯例确定的期

间内移交资产的常规购买或出售金融资

产于交易日（即本集团承诺购买或销售

该资产之日）确认。

其后计量

金融资产的其后计量视乎其分类如下：

以摊销成本计量的金融资产（债务工具）

以摊销成本计量的金融资产其后使用实

际利率法计量，并可予减值。在资产终

止确认、修改或减值时，收益及亏损在

损益内确认。

2. ACOUNTING POLICIES (continued)

2.4 Material acounting policies (continued)

Investments and other financial asets (continued)

Initial recognition and measurement (continued)

The Group’s busines model for managing financial

asets refers to how it manages its financial asets in

order to generate cash flows. The busines model

determines whether cash flows wil result from colecting

contractual cash flows, seling the financial asets, or

both. Financial asets clasified and measured at

amortised cost are held within a busines model with the

objective to hold financial asets in order to colect

contractual cash flows, while financial asets clasified

and measured at fair value through other comprehensive

income are held within a busines model with the

objective of both holding to colect contractual cash flows

and seling. Financial asets which are not held within the

aforementioned busines models are clasified and

measured at fair value through profit or los.

Purchases or sales of financial asets that require delivery

of asets within the period generaly established by

regulation or convention in the marketplace are

recognised on the trade date, that is, the date that the

Group comits to purchase or sel the aset.

Subsequent measurement

The subsequent measurement of financial asets

depends on their clasification as folows:

Financial asets at amortised cost (debt instruments)

Financial asets at amortised cost are subsequently

measured using the efective interest method and are

subject to impairment. Gains and loses are recognised

in profit or los when the aset is derecognised, modified

or impaired.

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

2.4 重要会计政策（续）

投资及其他金融资产（续）

其后计量（续）

指定为按公平价值计入其他全面收益的

金融资产（股权投资）

在初始确认时，本集团可以选择将非交

易性股权投资不可撤销地分类为指定为

按公平价值计入其他全面收益的股权投

资，其应符合香港会计准则第32号金融

工具：列报对股权工具的定义。分类乃

按逐项工具基准而厘定。

该等金融资产的收益及亏损永不划转

至损益。在获支付的权利确立时，股息

在损益内作为其他收入确认，惟当本集

团作为收回金融资产的部分成本而获

得有关款项的利益，则作别论，在该情

况下，有关收益会记录于其他全面收益

内。指定为按公平价值计入其他全面收

益的股权投资无须进行减值评估。

按公平价值计入损益的金融资产

按公平价值计入损益的金融资产在财务

状况表以公平价值计量，而其公平价值

变动净额在损益内确认。

该类别包括衍生工具以及本集团并无不

可撤销地选择分类为按公平价值计入其

他全面收益的股权投资。在获支付的权

利确立时，股权投资之股息亦在损益内

作为收入确认。

2. ACOUNTING POLICIES (continued)

2.4 Material acounting policies (continued)

Investments and other financial asets (continued)

Subsequent measurement (continued)

Financial asets designated at fair value through other

comprehensive income (equity investments)

Upon initial recognition, the Group can elect to clasify

irevocably its equity investments as equity investments

designated at fair value through other comprehensive

income when they met the definition of equity under

HKAS 32 Financial Instruments: Presentation and are not

held for trading. The clasification is determined on an

instrument-by-instrument basis.

Gains and loses on these financial asets are never

recycled to profit or los. Dividends are recognised as

other income in profit or los when the right of payment

has ben established, except when the Group benefits

from such proceds as a recovery of part of the cost of

the financial aset, in which case, such gains are recorded

in other comprehensive income. Equity investments

designated at fair value through other comprehensive

income are not subject to impairment asesment.

Financial asets at fair value through profit or los

Financial asets at fair value through profit or los are

caried in the statement of financial position at fair value

with net changes in fair value recognised in profit or los.

This category includes derivative instruments and equity

investments which the Group had not irevocably elected

to clasify at fair value through other comprehensive

income. Dividends on the equity investments are also

recognised as revenue in profit or los when the right of

payment has ben established.

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

2.4 重要会计政策（续）

终止确认之金融资产（续）

其后计量（续）

按公平价值计入损益的金融资产（续）

当嵌入到混合约（包含金融负债或非

金融主合约）中的衍生工具的经济特征

和风险与主合约不紧密相关；与嵌入衍

生工具有相同条款的单独工具符合衍

生工具的定义；且该混合约不是按公

平价值计入损益时，嵌入衍生工具与主

合约分拆并作为单独衍生工具处理。嵌

入衍生工具以公平价值计量，且其公平

价值变动计入损益。在合约条款出现变

动，且重大改变所需的现金流量重新分

类时，方进行重新评估。

嵌入混合约（包含金融资产主合约）

的衍生工具不得单独核算。金融资产主

合约连同嵌入衍生工具须整体分类为按

公平价值计入损益的金融资产。

终止确认之金融资产

在下列情况下，应终止确认（即从本集

团的综合财务状况表移除）金融资产

（或，如适用，金融资产的一部分，或

一组类似金融资产的一部分）：

• 收取该项资产所得现金流量之权利

已届满；或

• 本集团已转让其收取该项资产所得

现金流量之权利，或根据一项「转

付」安排，在未有严重延缓之情况

下，已就有关收取的现金流量全数

承担付款之责任给第三方；并：(a)

本集团已转让该项资产之绝大部分

风险及回报，或(b)本集团并无转让

或保留该项资产之绝大部分风险及

回报，但已转让该项资产之控制权。

2. ACOUNTING POLICIES (continued)

2.4 Material acounting policies (continued)

Investments and other financial asets (continued)

Subsequent measurement (continued)

Financial asets at fair value through profit or los

(continued)

A derivative embeded in a hybrid contract, with a

financial liability or non-financial host, is separated from

the host and acounted for as a separate derivative if the

economic characteristics and risks are not closely related

to the host; a separate instrument with the same terms

as the embeded derivative would met the definition of

a derivative; and the hybrid contract is not measured at

fair value through profit or los. Embeded derivatives are

measured at fair value with changes in fair value

recognised in profit or los. Reasesment ocurs if there

is a change in the terms of the contract that significantly

modifies the cash flows.

A derivative embeded within a hybrid contract

containing a financial aset host is not acounted for

separately. The financial aset host together with the

embeded derivative is required to be clasified in its

entirety as a financial aset at fair value through profit or

los.

Derecognition of financial asets

A financial aset (or, where aplicable, a part of a

financial aset or part of a group of similar financial

asets) is primarily derecognised (i.e., removed from the

Group’s consolidated statement of financial position)

when:

• the rights to receive cash flows from the aset have

expired; or

• the Group has transfered its rights to receive cash

flows from the aset or has asumed an obligation

to pay the received cash flows in ful without

material delay to a third party under a “pas-

through” arangement; and either (a) the Group has

transfered substantialy al the risks and rewards of

the aset, or (b) the Group has neither transfered

nor retained substantialy al the risks and rewards of

the aset, but has transfered control of the aset.

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

2.4 重要会计政策（续）

终止确认之金融资产（续）

当本集团转让其收取该项资产所得现金

流量之权利或已订立转付安排，其评估

其是否保留与该资产相关的风险和回报

以及有关程度。当其并无转让或保留该

项资产之绝大部分风险及回报，且并无

转让该项资产之控制权，本集团会视乎

本集团持续参与的程度继续确认已转让

资产。在该情况下，本集团亦确认相关

负债。转让的资产及相关负债按反映本

集团保留的权利和义务的基准计量。

如果持续参与形式对转让的资产提供担

保，计量是下述两者中的较低者：资产

的原账面金额和本集团可以被要求偿还

的代价的最大金额。

金融资产之减值

本集团就所有并非按公平价值计入损益

之持有的债务工具确认预期信用损失

（「预期信用损失」）拨备。预期信用损失

是以本集团根据合约应收的合约现金流

量与按照概约的原实际利率折现的预期

收取的所有现金流量之间的差额为基

础。预期现金流量将包括出售所持担保

品获得的现金流量，以及属于合约条款

组成部分的其他信用增级所产生的现金

流量。

2. ACOUNTING POLICIES (continued)

2.4 Material acounting policies (continued)

Derecognition of financial asets (continued)

When the Group has transfered its rights to receive cash

flows from an aset or has entered into a pas-through

arangement, it evaluates if, and to what extent, it has

retained the risk and rewards of ownership of the aset.

When it has neither transfered nor retained substantialy

al the risks and rewards of the aset nor transfered

control of the aset, the Group continues to recognise

the transfered aset to the extent of the Group’s

continuing involvement. In that case, the Group also

recognises an asociated liability. The transfered aset

and the asociated liability are measured on a basis that

reflects the rights and obligations that the Group has

retained.

Continuing involvement that takes the form of a

guarante over the transfered aset is measured at the

lower of the original carying amount of the aset and the

maximum amount of consideration that the Group could

be required to repay.

Impairment of financial asets

The Group recognises an alowance for expected credit

loses (“ECLs”) for al debt instruments not held at fair

value through profit or los. ECLs are based on the

diference betwen the contractual cash flows due in

acordance with the contract and al the cash flows that

the Group expects to receive, discounted at an

aproximation of the original efective interest rate. The

expected cash flows wil include cash flows from the sale

of colateral held or other credit enhancements that are

integral to the contractual terms.

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

2.4 重要会计政策（续）

金融资产之减值（续）

一般方法

预期信用损失分两个阶段进行确认。对

于自初始确认后并未显著增加的信贷风

险，就可能于未来12个月内出现的违约

事件计提预期信用损失（12个月预期信

用损失）。对于自初始确认后已显著增

加的信贷风险，须就预期在剩余存续期

内发生的信用损失风险计提亏损拨备，

不论违约事件于何时发生（整个存续期

预期信用损失）。

本集团在各报告日期评估金融工具的信

贷风险自初始确认后是否已显著增加。

在作出评估时，本集团会比较金融工具

在报告日期发生违约的风险与金融工具

在初始确认日发生违约的风险，并会考

虑无须付出不必要的额外成本或努力即

可获得的合理且有依据的信息，包括历

史及前瞻性信息。本集团认为，当合约

付款逾期超过30日，信贷风险已显著增

加。

本集团将合约付款逾期90日的金融资

产视作违约。然而，在若干情况下，当

内部或外部信息显示本集团不大可能悉

数收回未支付合约金额（未计及本集团

所持的任何信用增级前），本集团亦可

能视金融资产为违约。

当无合理预期可收回合约现金流量时，

金融资产将会撇销。

2. ACOUNTING POLICIES (continued)

2.4 Material acounting policies (continued)

Impairment of financial asets (continued)

General aproach

ECLs are recognised in two stages. For credit exposures

for which there has not ben a significant increase in

credit risk since initial recognition, ECLs are provided for

credit loses that result from default events that are

posible within the next 12 months (a 12-month ECL).

For those credit exposures for which there has ben a

significant increase in credit risk since initial recognition, a

los alowance is required for credit loses expected over

the remaining life of the exposure, irespective of the

timing of the default (a lifetime ECL).

At each reporting date, the Group aseses whether the

credit risk on a financial instrument has increased

significantly since initial recognition. When making the

asesment, the Group compares the risk of a default

ocuring on the financial instrument as at the reporting

date with the risk of a default ocuring on the financial

instrument as at the date of initial recognition and

considers reasonable and suportable information that is

available without undue cost or efort, including historical

and forward-loking information. The Group considers

that there has ben a significant increase in credit risk

when contractual payments are more than 30 days past

due.

The Group considers a financial aset in default when

contractual payments are 90 days past due. However, in

certain cases, the Group may also consider a financial

aset to be in default when internal or external

information indicates that the Group is unlikely to receive

the outstanding contractual amounts in ful before taking

into acount any credit enhancements held by the Group.

A financial aset is writen of when there is no

reasonable expectation of recovering the contractual cash

flows.

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

2.4 重要会计政策（续）

金融资产之减值（续）

一般方法（续）

以摊销成本计量的金融资产须根据一般

方法评估减值，除应收贸易账款应用简

化方法（详见下文）外，其就预期信用损

失计量分类于以下阶段。

第一阶段－金融工具的信贷风险自初

始确认后并未显著增加，

按照相当于该金融工具12

个月预期信用损失的金额

计量其亏损拨备

第二阶段－金融工具的信贷风险自初

始确认后已显著增加，但

并非信用减值的金融资产，

按照相当于该金融工具整

个存续期预期信用损失的

金额计量其亏损拨备

第三阶段－于报告日期已信用减值的

金融资产（但不是购买或源

生的已发生信用减值的金

融资产），按照相当于该金

融工具整个存续期预期信

用损失的金额计量其亏损

拨备

2. ACOUNTING POLICIES (continued)

2.4 Material acounting policies (continued)

Impairment of financial asets (continued)

General aproach (continued)

Financial asets at amortised cost are subject to

impairment under the general aproach and they are

clasified within the folowing stages for measurement of

ECLs except for trade receivables which aply the

simplified aproach as detailed below.

Stage 1–Financial instruments for which credit risk has

not increased significantly since initial

recognition and for which the los alowance is

measured at an amount equal to 12-month

ECLs

Stage 2–Financial instruments for which credit risk has

increased significantly since initial recognition

but that are not credit-impaired financial asets

and for which the los alowance is measured

at an amount equal to lifetime ECLs

Stage 3–Financial asets that are credit-impaired at the

reporting date (but that are not purchased or

originated credit-impaired) and for which the

los alowance is measured at an amount

equal to lifetime ECLs

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

2.4 重要会计政策（续）

金融资产之减值（续）

简化方法

对于不包含重大融资成分的应收贸易账

款，或当本集团应用便于实务操作的方

法而不就重大融资成分的影响作出调

整，本集团应用简化方法计量预期信用

损失。根据简化方法，本集团不会追踪

信贷风险的变化，而是于各报告日期根

据整个存续期预期信用损失确认亏损拨

备。本集团已根据其历史信用损失经验

设立拨备矩阵，并根据债务人及经济环

境的特定前瞻性因素作出调整。

对于包含重大融资成分的应收贸易账款

及应收租赁款项，本集团所选择的会计

政策为如上文所述采用简化方法计算预

期信用损失。

金融负债

初始确认和计量

金融负债在初始确认时分类为按公平价

值计入损益的金融负债、贷款和借款、

应付款项，或指定为有效对冲的对冲工

具的衍生工具（视何者适用而定）。

初始确认所有金融负债时，按公平价值

确认，如属贷款和借款以及应付款项，

则扣除直接应占的交易成本。

2. ACOUNTING POLICIES (continued)

2.4 Material acounting policies (continued)

Impairment of financial asets (continued)

Simplified aproach

For trade receivables that do not contain a significant

financing component or when the Group aplies the

practical expedient of not adjusting the efect of a

significant financing component, the Group aplies the

simplified aproach in calculating ECLs. Under the

simplified aproach, the Group does not track changes in

credit risk, but instead recognises a los alowance based

on lifetime ECLs at each reporting date. The Group has

established a provision matrix that is based on its

historical credit los experience, adjusted for forward-

loking factors specific to the debtors and the economic

environment.

For trade receivables that contain a significant financing

component and lease receivables, the Group choses as

its acounting policy to adopt the simplified aproach in

calculating ECLs with policies as described above.

Financial liabilities

Initial recognition and measurement

Financial liabilities are clasified, at initial recognition, as

financial liabilities at fair value through profit or los,

loans and borowings, payables, or as derivatives

designated as hedging instruments in an efective hedge,

as apropriate.

Al financial liabilities are recognised initialy at fair value

and, in the case of loans and borowings and payables,

net of directly atributable transaction costs.

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

2.4 重要会计政策（续）

金融负债（续）

初始确认和计量（续）

本集团的金融负债包括应计款项、其他

应付账款及已收按金、租赁负债、应付

中间控股公司款项，以及本集团附属公

司之非控股东垫付之贷款。

其后计量

金融负债的后续计量根据其下列分类进

行：

按摊销成本计量之金融负债（贸易及其

他应付账款，以及借款）

初始确认后，按摊销成本计量的金融负

债其后采用实际利率法按摊销成本计

量，除非折现的影响不重大，这种情况

下，它们按成本计量。在负债终止确认

时及在实际利率摊销过程中，产生的收

益和亏损在损益中确认。

摊销成本计算时会考虑任何收购折让或

溢价以及构成实际利率整体部分的费用

或成本。实际利率摊销包括在损益内的

融资成本。

2. ACOUNTING POLICIES (continued)

2.4 Material acounting policies (continued)

Financial liabilities (continued)

Initial recognition and measurement (continued)

The Group’s financial liabilities include acruals, other

payables and deposits received, lease liabilities, an

amount due to the intermediate holding company and a

loan advanced from a non-controling shareholder of the

Group’s subsidiary.

Subsequent measurement

The subsequent measurement of financial liabilities

depends on their clasification as folows:

Financial liabilities at amortised cost (trade and other

payables, and borowings)

After initial recognition, financial liabilities at amortised

cost are subsequently measured at amortised cost, using

the efective interest rate method unles the efect of

discounting would be imaterial, in which case they are

stated at cost. Gains and loses are recognised in profit

or los when the liabilities are derecognised as wel as

through the efective interest rate amortisation proces.

Amortised cost is calculated by taking into acount any

discount or premium on acquisition and fes or costs

that are an integral part of the efective interest rate. The

efective interest rate amortisation is included in finance

costs in profit or los.

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

2.4 重要会计政策（续）

终止确认之金融负债

倘负债下之承担被解除、取消或到期，

则终止确认金融负债。

倘现有金融负债被来自同一贷款人之另

一项大部分不相同条款之负债取代，或

现有负债之条款大部分被修订，则该项

交换或修订会处理为终止确认原有负债

及确认新负债，及有关账面金额之差额

于损益中确认。

金融工具的互相抵销

如果以现时可行法定权利将确认的金

额互相抵销，并且打算以净额为基础结

算，或同时变现该资产和清还该负债，

则金融资产和金融负债会互相抵销，并

报告净额在财务状况表中。

现金及现金等价物

就财务状况表而言，现金及现金等价物

包括手头现金及银行存款，及购入后一

般在三个月内到期及可随时转换为已知

数额的现金且价值变动风险较小之短期

高度流动性存款，其持有乃为满足短期

现金承诺。

就综合现金流量表而言，现金及现金等

价物包括手头及银行现金，及上文界定

的短期存款，扣除须按要求偿还并构成

本集团现金管理之组成部分之银行透支。

2. ACOUNTING POLICIES (continued)

2.4 Material acounting policies (continued)

Derecognition of financial liabilities

A financial liability is derecognised when the obligation

under the liability is discharged or canceled, or expires.

When an existing financial liability is replaced by another

from the same lender on substantialy diferent terms, or

the terms of an existing liability are substantialy modified,

such an exchange or modification is treated as a

derecognition of the original liability and a recognition of

a new liability, and the diference betwen the respective

carying amounts is recognised in profit or los.

Ofseting of financial instruments

Financial asets and financial liabilities are ofset and the

net amount is reported in the statement of financial

position if there is a curently enforceable legal right to

ofset the recognised amounts and there is an intention

to setle on a net basis, or to realise the asets and setle

the liabilities simultaneously.

Cash and cash equivalents

Cash and cash equivalents in the statement of financial

position comprise cash on hand and at banks, and short-

term highly liquid deposits with a maturity of generaly

within thre months that are readily convertible into

known amounts of cash, subject to an insignificant risk of

changes in value and held for the purpose of meting

short-term cash comitments.

For the purpose of the consolidated statement of cash

flows, cash and cash equivalents comprise cash on hand

and at banks, and short-term deposits as defined above,

les bank overdrafts which are repayable on demand and

form an integral part of the Group’s cash management.

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

2.4 重要会计政策（续）

抵债资产

抵债资产指信贷减值的应收贷款及利息

以及其相关可报销开支，而有关贷款借

款人违约时，本集团已透过法庭诉讼程

序取得持有、使用、占用及享有（包括

出售及出租的权利）抵押资产的专属权

利及特权。然而，本集团不会取得相关

抵押品的拥有权。抵债资产分类为按摊

销成本计量的金融资产，其后根据香港

财务报告准则第9号按摊销成本减值

拨备计量。

拨备

因过去事项而需要承担现时义务（法定

或推定），而履行该义务很可能导致未

来资源的流出，且该义务的金额能够可

靠地估计，则应确认拨备。

当本集团预期部分或全部拨备会获补

还，补还会确认为单独资产，但仅当补

还几乎肯定时才予以确认。有关拨备的

开支在损益中列报时会扣除任何补还。

如果货币时间价值的影响重大，拨备的

金额应是未来履行义务预期所需支出在

报告期末的现值。随时间推移增加的折

现值金额计入损益的融资成本。

2. ACOUNTING POLICIES (continued)

2.4 Material acounting policies (continued)

Reposesed asets

Reposesed asets represent credit-impaired loan and

interest receivables and their related reimbursable

expenses for which the sole and exclusive right and

privilege to hold, use, ocupy and enjoy (including the

right to sel and rent) the colateral asets have ben

acquired through court procedings upon default of the

related loan borowers. However, the Group does not

obtain ownership of the underlying colateral. Reposesed

asets are clasified as financial asets at amortised cost

and subsequently measured at amortised cost les

provision for impairment under HKFRS 9.

Provisions

A provision is recognised when a present obligation (legal

or constructive) has arisen as a result of a past event and

it is probable that a future outflow of resources wil be

required to setle the obligation, provided that a reliable

estimate can be made of the amount of the obligation.

When the Group expects some or al of a provision to be

reimbursed, the reimbursement is recognised as a

separate aset, but only when the reimbursement is

virtualy certain. The expense relating to a provision is

presented in profit or los net of any reimbursement.

When the efect of discounting is material, the amount

recognised for a provision is the present value at the end

of the reporting period of the future expenditures

expected to be required to setle the obligation. The

increase in the discounted present value amount arising

from the pasage of time is included in finance costs in

profit or los.

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

2.4 重要会计政策（续）

所得税

所得税包括即期及递延税项。有关在损

益以外确认的项目的所得税，在损益以

外确认，即在其他全面收益或直接在权

益中确认。

即期税项资产及负债，乃根据报告期末

已执行的或实质上已执行的税率（和税

务法例）为基础，并经考虑本集团经营

所在国家的现行诠释和常规后，以预期

可向课税机关收回或缴付之款项计量。

递延税项就于报告期末资产与负债之税

基及其于财务报告中之账面金额两者间

之所有暂时差额以负债法拨备。

递延税项负债乃就所有应课税暂时差额

确认，以下除外：

• 惟因商誉或资产或负债于非业务合

并交易的初始确认所产生而于交易

时并无对会计溢利或应课税溢利或

亏损构成影响，且不产生同等应课

税和可扣除暂时性差异之递延税项

负债；及

• 就有关于附属公司投资产生之应课

税暂时差额而言，惟于暂时差额之

拨回时间可以控制及暂时差额有可

能不会于可预见未来拨回。

2. ACOUNTING POLICIES (continued)

2.4 Material acounting policies (continued)

Income tax

Income tax comprises curent and defered tax. Income

tax relating to items recognised outside profit or los is

recognised outside profit or los, either in other

comprehensive income or directly in equity.

Curent tax asets and liabilities are measured at the

amount expected to be recovered from or paid to the

taxation authorities, based on tax rates (and tax laws) that

have ben enacted or substantively enacted by the end

of the reporting period, taking into consideration

interpretations and practices prevailing in the countries in

which the Group operates.

Defered tax is provided, using the liability method, on al

temporary diferences at the end of the reporting period

betwen the tax bases of asets and liabilities and their

carying amounts for financial reporting purposes.

Defered tax liabilities are recognised for al taxable

temporary diferences, except:

• when the defered tax liability arises from the initial

recognition of godwil or an aset or liability in a

transaction that is not a busines combination and,

at the time of the transaction, afects neither the

acounting profit nor taxable profit or los and does

not give rise to equal taxable and deductible

temporary diferences; and

• in respect of taxable temporary diferences

asociated with investments in subsidiaries, when

the timing of the reversal of the temporary

diferences can be controled and it is probable that

the temporary diferences wil not reverse in the

foreseable future.

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

2.4 重要会计政策（续）

所得税（续）

对于所有可扣减暂时差额、未动用之税

项抵免与任何未动用之税项亏损结转而

确认递延税项资产。递延税项资产的确

认，只限于可能将有应课税溢利可用作

抵销可扣减暂时差额、未动用之税项抵

免及未动用之税项亏损结转，以下除外：

初始确认之资产或负债时产生而于

交易时并无对会计溢利或应课税溢

利或亏损构成影响，且不产生同等

应课税和可扣除暂时性差异之有关

可扣减暂时差额之递延税项资产；

及

• 就于附属公司投资产生之可扣减暂

时差额而言，倘很有可能于可预见

未来拨回暂时差额，且有应课税溢

利可用作抵销暂时差额，方会确认

递延税项资产。

递延税项资产之账面金额于各报告期末

检讨，并扣减至不再可能有足够应课税

溢利让所有或部分递延税项资产可动用

为止。未确认之递延税项资产于各报告

期末重新评估，并在可能有足够应课税

溢利让所有或部分递延税项资产收回时

确认。

2. ACOUNTING POLICIES (continued)

2.4 Material acounting policies (continued)

Income tax (continued)

Defered tax asets are recognised for al deductible

temporary diferences, and the caryforward of unused tax

credits and any unused tax loses. Defered tax asets are

recognised to the extent that it is probable that taxable

profit wil be available against which the deductible

temporary diferences, and the caryforward of unused tax

credits and unused tax loses can be utilised, except:

• when the defered tax aset relating to the

deductible temporary diferences arises from the

initial recognition of an aset or liability in a

transaction that is not a busines combination and,

at the time of the transaction, afects neither the

acounting profit nor taxable profit or los and does

not give rise to equal taxable and deductible

temporary diferences; and

• in respect of deductible temporary diferences

asociated with investments in subsidiaries, defered

tax asets are only recognised to the extent that it is

probable that the temporary diferences wil reverse

in the foreseable future and taxable profit wil be

available against which the temporary diferences

can be utilised.

The carying amount of defered tax asets is reviewed at

the end of each reporting period and reduced to the

extent that it is no longer probable that suficient taxable

profit wil be available to alow al or part of the defered

tax aset to be utilised. Unrecognised defered tax asets

are reasesed at the end of each reporting period and

are recognised to the extent that it has become probable

that suficient taxable profit wil be available to alow al

or part of the defered tax aset to be recovered.

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

2.4 重要会计政策（续）

所得税（续）

递延税项资产与负债以资产被变现或负

债清还之期间之预期适用税率，按于报

告期末已制定或实际已制定之税率（及

税务法例）计算。

如果及只有如果本集团有法定行使权以

即期税项资产抵销即期税项负债，并且

符合以下条件，才可以抵销递延税项资

产和递延税项负债：递延税项资产与递

延税项负债与同一税务机关就同一应纳

税实体或不同的应纳税实体征收的所得

税有关，而这些实体计划在日后每个预

计有大额递延税项负债需要结算或大额

递延税项资产可以收回的期间内，按净

额基准结算即期税项负债与资产，或同

时变现该资产和结算该负债。

收入确认

客户合约之收入

客户合约之收入于商品或服务的控制权

转移给客户时确认，该金额反映本集团

就交换该等商品或服务预计有权获得的

代价。

当合约中的代价包含可变金额时，则会

估计本集团向客户转让商品或服务作为

交换而有权获得的代价金额。可变代价

在合约开始时估计并受到限制，直至与

可变代价相关的不确定性消除时，累计

已确认收入金额极可能不会发生重大收

入转回。

2. ACOUNTING POLICIES (continued)

2.4 Material acounting policies (continued)

Income tax (continued)

Defered tax asets and liabilities are measured at the tax

rates that are expected to aply to the period when the

aset is realised or the liability is setled, based on tax

rates (and tax laws) that have ben enacted or

substantively enacted by the end of the reporting period.

Defered tax asets and defered tax liabilities are ofset if

and only if the Group has a legaly enforceable right to

set of curent tax asets and curent tax liabilities and the

defered tax asets and defered tax liabilities relate to

income taxes levied by the same taxation authority on

either the same taxable entity or diferent taxable entities

which intend either to setle curent tax liabilities and

asets on a net basis, or to realise the asets and setle

the liabilities simultaneously, in each future period in

which significant amounts of defered tax liabilities or

asets are expected to be setled or recovered.

Revenue recognition

Revenue from contracts with customers

Revenue from contracts with customers is recognised

when control of gods or services is transfered to the

customers at an amount that reflects the consideration to

which the Group expects to be entitled in exchange for

those gods or services.

When the consideration in a contract includes a variable

amount, the amount of consideration is estimated to

which the Group wil be entitled in exchange for

transfering the gods or services to the customer. The

variable consideration is estimated at contract inception

and constrained until it is highly probable that a

significant revenue reversal in the amount of cumulative

revenue recognised wil not ocur when the asociated

uncertainty with the variable consideration is

subsequently resolved.

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

2.4 重要会计政策（续）

收入确认（续）

客户合约之收入（续）

当合约中包含融资成分，就向客户转让

商品或服务为客户提供超过一年的重大

融资利益时，收入按应收款项的现值计

量，其采用在本集团与客户在合约开始

日单独的融资交易中会反映的折现率折

现。当合约中包含融资成分，为本集团

提供了一年以上的重大财务利益时，根

据合约确认的收入包括合约负债根据实

际利率法增加的利息开支。采用香港财

务报告准则第15号中便于实务操作的

方法，有关客户支付价款与转让已承诺

商品或者服务之间的间隔为一年或更短

期间的合约，则不会就重大融资成分的

影响调整交易价格。

其他来源之收入

租金收入按时间比例基准在租赁期内确

认。

证券买卖的已变现公平价值收益或亏损

按交易日基准确认，而公平价值变动的

未变现公平价值收益或亏损则于报告期

末确认。

2. ACOUNTING POLICIES (continued)

2.4 Material acounting policies (continued)

Revenue recognition (continued)

Revenue from contracts with customers (continued)

When the contract contains a financing component which

provides the customer with a significant benefit of

financing the transfer of gods or services to the

customer for more than one year, revenue is measured

at the present value of the amount receivable, discounted

using the discount rate that would be reflected in a

separate financing transaction betwen the Group and

the customer at contract inception. When the contract

contains a financing component which provides the

Group with a significant financial benefit for more than

one year, revenue recognised under the contract includes

the interest expense acreted on the contract liability

under the efective interest method. For a contract where

the period betwen the payment by the customer and

the transfer of the promised gods or services is one

year or les, the transaction price is not adjusted for the

efects of a significant financing component, using the

practical expedient in HKFRS 15.

Revenue from other sources

Rental income is recognised on a time proportion basis

over the lease terms.

Realised fair value gains or loses on securities trading

are recognised on a trade date basis, whilst unrealised

fair value gains or loses are recognised on changes in

fair value at the end of the reporting period.

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

2. ACOUNTING POLICIES (continued)

2.4 Material acounting policies (continued)

Revenue recognition (continued)

Revenue from other sources (continued)

Dividend income from equity investments at fair value

through profit or los is recognised when the

shareholders’ right to receive payment has ben

established, it is probable that the economic benefits

asociated with the dividend wil flow to the Group and

the amount of the dividend can be measured reliably.

Interest income is recognised on an acrual basis using

the efective interest rate method by aplying the rate

that exactly discounts the estimated future cash receipts

over the expected life of the financial instrument or a

shorter period, when apropriate, to the net carying

amount of the financial aset.

Share-based payments

The Company operates a share option scheme.

Employes (including directors) of the Group receive

remuneration in the form of share-based payments,

whereby employes render services in exchange for

equity instruments (“equity-setled transactions”). The

cost of equity-setled transactions with employes is

measured by reference to the fair value at the date at

which they are granted. The fair value is determined by

an external valuer using a binomial model, further details

of which are given in note 26 to the financial statements.

The cost of equity-setled transactions is recognised in

employe benefit expense, together with a coresponding

increase in equity, over the period in which the

performance and/or service conditions are fulfiled. The

cumulative expense recognised for equity-setled

transactions at the end of each reporting period until the

vesting date reflects the extent to which the vesting

period has expired and the Group’s best estimate of the

number of equity instruments that wil ultimately vest.

The charge or credit to profit or los for a period

represents the movement in the cumulative expense

recognised as at the begining and end of that period.

（续）

2.4 重要会计政策（续）

收入确认（续）

其他来源之收入（续）

按公平价值计入损益的股权投资之股息

收入在股东的收款权利确立、有关股息

的经济利益很可能流入本集团且股息的

金额能可靠地计量时予以确认。

利息收入乃按应计基准使用实际利息法

计算，其须采用能把金融工具预期年期

或较短期间（如适用）下估计未来现金

收入准确折现至金融资产账面净额之利

率。

以股份为基础的付款

本公司设有购股权计划。本集团雇员（包

括董事）通过以股份为基础的付款方式

获取酬金，而雇员提供服务以换取股权

工具（「以股权结算之交易」）。与雇员

进行以股权结算之交易之成本，乃参考

于授出日期之公平价值计量。公平价值

由外聘估值师根据二项式期权定价模式

厘定，有关进一步详情在财务报表附注

26内提供。

在表现及╱或服务条件获履行的期间，

应确认以权益结算的交易费用为雇员福

利开支并同时相应增加权益。在归属日

期前，于各报告期末确认之以股权结算

之交易之累计开支，反映归属期已届满

部分及本集团对最终将会归属之股权工

具数目之最佳估计。在某一期间内在损

益中之扣除或计入，乃反映于期初及期

末确认之累计开支之变动。

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

2.4 重要会计政策（续）

以股份为基础的付款（续）

在厘定奖励授予日的公平价值时，并不

考虑服务条件及非市场表现条件，但会

作为本集团对最终将会归属的股权工具

的数目的最佳估计的一部分评估符合有

关条件的可能性。市场表现条件在授予

日的公平价值中反映。奖励所附带的任

何其他条件（但不带有相联服务要求）

视为非归属条件。非归属条件在奖励的

公平价值中反映，除非同时存在服务

及╱或表现条件，否则奖励会即时确认

为开支。

对于因未有符合非市场表现及╱或服务

条件而最终未能归属的奖励，不确认为

开支。如果奖励包括市场条件或非归属

条件，则无论是否满足市场条件或非归

属条件，只要其他所有表现及╱或服务

条件得以满足，有关交易均视作已归属。

倘以股权结算之奖励之条款有所修订，

所确认开支最少须达到犹如条款并无任

何修订之水平，如果奖励的原条款获履

行。此外，倘有关修订导致以股份为基

础的付款之总公平价值有所增加，或在

修改日为雇员带来其他利益，则应就该

等修订确认开支。倘以股权结算之奖励

被注销，应被视为犹如已于注销日期归

属，任何尚未确认之奖励开支应即时确

认。

2. ACOUNTING POLICIES (continued)

2.4 Material acounting policies (continued)

Share-based payments (continued)

Service and non-market performance conditions are not

taken into acount when determining the grant date fair

value of awards, but the likelihod of the conditions

being met is asesed as part of the Group’s best

estimate of the number of equity instruments that wil

ultimately vest. Market performance conditions are

reflected within the grant date fair value. Any other

conditions atached to an award, but without an

asociated service requirement, are considered to be

non-vesting conditions. Non-vesting conditions are

reflected in the fair value of an award and lead to an

imediate expensing of an award unles there are also

service and/or performance conditions.

For awards that do not ultimately vest because non-

market performance and/or service conditions have not

ben met, no expense is recognised. Where awards

include a market or non-vesting condition, the

transactions are treated as vesting irespective of whether

the market or non-vesting condition is satisfied, provided

that al other performance and/or service conditions are

satisfied.

Where the terms of an equity-setled award are modified,

as a minimum an expense is recognised as if the terms

had not ben modified, if the original terms of the award

are met. In adition, an expense is recognised for any

modification that increases the total fair value of the

share-based payments, or is otherwise beneficial to the

employe as measured at the date of modification.

Where an equity-setled award is canceled, it is treated

as if it had vested on the date of cancelation, and any

expense not yet recognised for the award is recognised

imediately.

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

2.4 重要会计政策（续）

以股份为基础的付款（续）

这包括在本集团或雇员控制范围以内的

不归属条件未能获履行的任何奖励。然

而，倘有新奖励取代已注销奖励，并于

授出日期指定为取代奖励，则已注销奖

励及新奖励，均如前段所述应被视为原

先奖励之修订。

计算每股盈利时，尚未行使购股权之摊

薄效应会反映为额外股份摊薄。

其他雇员福利

退休金计划

本集团设有根据《强制性公积金计划条

例》之界定供款强制性公积金退休保障

计划（「强积金计划」），供所有雇员参

加。供款乃依据雇员基本薪金之百分比

计算，并根据强积金计划之规则于到期

应付时在损益中扣除。强积金计划之资

产与本集团之资产分开，并由独立管理

之基金持有。雇员可于本集团对强积金

计划作出供款时悉数获得本集团之雇

主供款，惟本集团之雇主自愿性供款除

外，根据强积金计划规定，倘雇员于有

关供款全数归属前离职，则供款会退还

予本集团。

2. ACOUNTING POLICIES (continued)

2.4 Material acounting policies (continued)

Share-based payments (continued)

This includes any award where non-vesting conditions

within the control of either the Group or the employe

are not met. However, if a new award is substituted for

the canceled award, and is designated as a replacement

award on the date that it is granted, the canceled and

new awards are treated as if they were a modification of

the original award, as described in the previous paragraph.

The dilutive efect of outstanding options is reflected as

aditional share dilution in the computation of earnings

per share.

Other employe benefits

Pension scheme

The Group operates a defined contribution Mandatory

Provident Fund retirement benefit scheme (the “MPF

Scheme”) under the Mandatory Provident Fund Schemes

Ordinance for al of its employes. Contributions are

made based on a percentage of the employes’ basic

salaries and are charged to profit or los as they become

payable in acordance with the rules of the MPF Scheme.

The asets of the MPF Scheme are held separately from

those of the Group in an independently administered

fund. The Group’s employer contributions vest fuly with

the employes when contributed into the MPF Scheme,

except for the Group’s employer voluntary contributions,

which are refunded to the Group when the employe

leaves employment prior to the contributions vesting

fuly, in acordance with the rules of the MPF Scheme.

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

2.4 重要会计政策（续）

借款成本

所有借款成本在产生期间确认为开支。

借款成本包括实体就借用资金而产生的

利息及其他成本。

股息

末期股息于股东在股东大会上批准时确

认为负债。拟派末期股息在财务报表附

注内披露。本公司同时建议并宣派中期

股息，原因为本公司的组织章程大纲及

公司细则授予董事权力可宣布派发中期

股息。因此，中期股息在建议和宣派后

即时确认为负债。

外币

本财务报表乃以港元，即本公司之功能

货币呈列。本集团内各实体决定其本身

之功能货币，而包括在各实体之财务报

表之项目乃使用该功能货币计量。本集

团实体记录的外币交易初步使用交易日

期它们各自之外币汇率记录。以外币为

结算单位之货币资产与负债会按报告期

末之外币汇率换算。结算或换算货币项

目所产生的差额在损益内确认。

2. ACOUNTING POLICIES (continued)

2.4 Material acounting policies (continued)

Borowing costs

Al borowing costs are expensed in the period in which

they are incured. Borowing costs consist of interest and

other costs that an entity incurs in conection with the

borowing of funds.

Dividends

Final dividends are recognised as a liability when they are

aproved by the shareholders in a general meting.

Proposed final dividends are disclosed in the notes to the

financial statements. Interim dividends are simultaneously

proposed and declared, because the Company’s

memorandum of asociation and bye-laws grant the

directors the authority to declare interim dividends.

Consequently, interim dividends are recognised

imediately as a liability when they are proposed and

declared.

Foreign curencies

These financial statements are presented in Hong Kong

dolars, which is the Company’s functional curency. Each

entity in the Group determines its own functional

curency and items included in the financial statements

of each entity are measured using that functional

curency. Foreign curency transactions recorded by the

entities in the Group are initialy recorded using their

respective functional curency rates prevailing at the dates

of the transactions. Monetary asets and liabilities

denominated in foreign curencies are translated at the

functional curency rates of exchange ruling at the end of

the reporting period. Diferences arising on setlement or

translation of monetary items are recognised in profit or

los.

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

2.4 重要会计政策（续）

外币（续）

按外币历史成本计量之非货币项目，使

用初次交易日期之汇率换算。按外币公

平价值计量之非货币项目，使用公平价

值计量日期之汇率换算。换算以公平价

值计量的非货币项目所产生的收益或亏

损的确认处理方法与有关项目公平价值

变动的收益或亏损一致（即项目之公平

价值的收益或亏损分别在其他全面收益

或损益中确认，而项目之换算差额亦分

别在其他全面收益或损益中确认）。

预付代价相关的非货币资产或非货币负

债终止确认所产生的相关资产、费用或

收入，在确定其初始确认所使用的汇率

时，其初始交易日为本集团因预付代价

而初始确认非货币资产或非货币负债的

日期。如果支付或收取多笔预付款，则

本集团对支付或收取的每一笔预付代价

确定交易日。

2. ACOUNTING POLICIES (continued)

2.4 Material acounting policies (continued)

Foreign curencies (continued)

Non-monetary items that are measured in terms of

historical cost in a foreign curency are translated using

the exchange rates at the dates of the initial transactions.

Non-monetary items measured at fair value in a foreign

curency are translated using the exchange rates at the

date when the fair value was measured. The gain or los

arising on translation of a non-monetary item measured

at fair value is treated in line with the recognition of the

gain or los on change in fair value of the item (i.e.,

translation diference on the item whose fair value gain

or los is recognised in other comprehensive income or

profit or los is also recognised in other comprehensive

income or profit or los, respectively).

In determining the exchange rate on initial recognition of

the related aset, expense or income on the

derecognition of a non-monetary aset or non-monetary

liability relating to an advance consideration, the date of

initial transaction is the date on which the Group initialy

recognises the non-monetary aset or non-monetary

liability arising from the advance consideration. If there

are multiple payments or receipts in advance, the Group

determines the transaction date for each payment or

receipt of the advance consideration.

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

2.4 重要会计政策（续）

外币（续）

若干海外附属公司之功能货币为港元以

外之货币。于报告期末，该等实体之资

产与负债会按报告期末之汇率换算为港

元，而损益表会按与交易发生日的即期

汇率近似的汇率换算为港元。

所产生之汇兑差额会在其他全面收益中

确认，并在汇兑储备中累计，惟倘若有

关差额归属于非控股权益则除外。出售

海外经营业务时，在储备中有关该特定

海外业务的累计金额会在损益中确认。

就综合现金流量表而言，海外附属公司

之现金流量按现金流量日期之汇率换算

为港元。海外附属公司于整个年度定期

产生之现金流量按本年度加权平均汇率

换算为港元。

2. ACOUNTING POLICIES (continued)

2.4 Material acounting policies (continued)

Foreign curencies (continued)

The functional curencies of certain overseas subsidiaries

are curencies other than the Hong Kong dolar. As at the

end of the reporting period, the asets and liabilities of

these entities are translated into Hong Kong dolars at the

exchange rates prevailing at the end of the reporting

period and their statements of profit or los are translated

into Hong Kong dolars at the exchange rates that

aproximate to those prevailing at the dates of the

transactions.

The resulting exchange diferences are recognised in

other comprehensive income and acumulated in the

exchange translation reserve, except to the extent that the

diferences are atributable to non-controling interests.

On disposal of a foreign operation, the cumulative

amount in the reserve relating to that particular foreign

operation is recognised in profit or los.

For the purpose of the consolidated statement of cash

flows, the cash flows of overseas subsidiaries are

translated into Hong Kong dolars at the exchange rates

ruling at the dates of the cash flows. Frequently recuring

cash flows of overseas subsidiaries which arise

throughout the year are translated into Hong Kong dolars

at the weighted average exchange rates for the year.

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

3. SIGNIFICANT ACOUNTING JUDGEMENTS AND

ESTIMATES

The preparation of the Group’s financial statements

requires management to make judgements, estimates

and asumptions that afect the reported amounts of

revenues, expenses, asets and liabilities, and their

acompanying disclosures, and the disclosure of

contingent liabilities. Uncertainty about these asumptions

and estimates could result in outcomes that could require

a material adjustment to the carying amounts of the

asets or liabilities afected in the future.

Judgements

In the proces of aplying the Group’s acounting

policies, management has made the folowing

judgements, apart from those involving estimations,

which have the most significant efect on the amounts

recognised in the financial statements:

Defered tax asets

Defered tax asets are recognised for unused tax loses

to the extent that it is probable that taxable profit wil be

available against which the loses can be utilised.

Significant management judgement is required to

determine the amount of defered tax asets that can be

recognised, based upon the likely timing and level of

future taxable profits together with future tax planing

strategies. The carying value of defered tax asets

relating to recognised tax loses at 31 March 2025 was

HK$9,229,000 (2024: HK$9,140,000). The amount of

unrecognised tax loses at 31 March 2025 was

HK$283,870,000 (2024: HK$283,936,000). Further

details are contained in note 24 to the financial

statements.

3. 主要会计判断及估计

管理层编制本集团之财务报表时，须作

出会影响收入、开支、资产及负债呈报

金额及其随附披露及或然负债披露的判

断、估计及假设。有关假设及估计之不

明确因素可能导致未来须就受影响的资

产或负债之账面金额作出重大调整。

判断

于采用本集团会计政策之过程中，除涉

及对于财务报表内确认之金额构成最重

大影响之估计之会计政策外，管理层已

作出以下判断：

递延税项资产

对于未动用税项亏损而确认的递延税项

资产，只限于可能将有应课税溢利可用

作抵销可供动用之亏损。在厘定可确认

之递延税项资产金额时，管理层须根据

可能出现未来应课税溢利之时间及水

平以及未来税务规划策略作重大判断。

于二零二五年三月三十一日，涉及已确

认税项亏损之递延税项资产账面值为

9,229,000港元（二零二四年：9,140,000

港元）。于二零二五年三月三十一日，

未确认税项亏损之金额为283,870,000

港元（二零二四年：283,936,000港元）。

有关进一步详情载于财务报表附注24内。

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

估计之不明确因素

下文披露有关未来之主要假设及于报告

期末估计之不明确因素的其他主要来

源，而具有重大风险导致于下个财政年

度极有可能会导致资产与负债之账面金

额作出重大调整，有关之描述如下。

投资物业之公平价值估计

倘缺乏同类物业于活跃市场之现有价

格，则本集团会考虑从多个途径所搜集

资料，包括：

(a) 不同性质、状况或地点之物业于活

跃市场之现有价格（经调整以反映

各项差异）；

(b) 活跃程度稍逊之市场所提供同类物

业近期价格（经调整以反映自按该

等价格进行交易当日以来经济状况

之任何变动）；及根据未来现金流

量所作可靠估计之经贴现金流量

预测，此项预测以任何现有租约及

其他合约之条款以及（在可行情况

下）外部证据（如地点及状况相同之

类似物业现有市场租赁）为凭证，

并采用可反映有关现金流量金额及

时间不明朗因素当时市场评估之贴

现率。

于二零二五年三月三十一日，投资物业

之账面金额为485,560,000港元（二零

二四年：555,300,000港元）。进一步详

情（包括公平价值计量所用的主要假设）

载于财务报表附注14内。

3. SIGNIFICANT ACOUNTING JUDGEMENTS AND

ESTIMATES (continued)

Estimation uncertainty

The key asumptions concerning the future and other key

sources of estimation uncertainty at the end of the

reporting period, that have a significant risk of causing a

material adjustment to the carying amounts of asets

and liabilities within the next financial year, are described

below.

Estimation of fair value of investment properties

In the absence of curent prices in an active market for

similar properties, the Group considers information from

a variety of sources, including:

(a) curent prices in an active market for properties of a

diferent nature, condition or location, adjusted to

reflect those diferences;

(b) recent prices of similar properties on les active

markets, with adjustments to reflect any changes in

economic conditions since the dates of the

transactions that ocured at those prices; and

discounted cash flow projections based on reliable

estimates of future cash flows, suported by the

terms of any existing lease and other contracts and

(when posible) by external evidence such as

curent market rents for similar properties in the

same location and condition, and using discount

rates that reflect curent market asesments of the

uncertainty in the amount and timing of the cash

flows.

The carying amount of investment properties at 31 March

2025 was HK$485,560,000 (2024: HK$555,300,000).

Further details, including the key asumptions used for fair

value measurement, are given in note 14 to the financial

statements.

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

3. SIGNIFICANT ACOUNTING JUDGEMENTS AND

ESTIMATES (continued)

Estimation uncertainty (continued)

Provision for impairment loses on loan and

interest receivables

The Group uses judgement in making asumptions and

selecting the inputs to its ECL calculation, based on the

Group’s past history, existing market conditions as wel as

forward-loking estimates at the end of each reporting

period.

The asesment of the corelation among historical

observed default rates, forecast economic conditions and

ECLs is a significant estimate. The amount of ECLs is

sensitive to changes in circumstances and forecast

economic conditions. The Group’s historical credit los

experience and forecast of economic conditions may also

not be representative of customers’ actual default in the

future. As at 31 March 2025, provision for impairment

loses on loan and interest receivables amounted to

aproximately HK$14,677,000 (2024: HK$16,978,000).

The information about the ECLs on the Group’s loan and

interest receivables is disclosed in note 17 to the

financial statements.

（续）

估计之不明确因素（续）

应收贷款及利息的减值亏损拨备

本集团根据本集团过往历史、现有市场

状况以及于各报告期末的前瞻性估计，

在作出假设以及选择预期信用损失计算

的输入值时运用判断。

对历史观察违约率、经济状况预测及预

期信用损失之间的相关性评估属重要估

计。预期信用损失的金额易受环境变化

及经济状况预测的影响。本集团的历史

信用损失经验及对经济状况的预测亦未

必代表未来客户的实际违约情况。于二

零二五年三月三十一日，有关应收贷款

及利息的减值亏损拨备约为14,677,000

港元（二零二四年：16,978,000港元）。

有关本集团应收贷款及利息的预期信用

损失的资料在财务报表附注17内披露。

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

4. OPERATING SEGMENT INFORMATION

For management purposes, the Group is organised into

busines units based on their busineses and has thre

reportable operating segments as folows:

(a) the money lending segment engages in the provision

of mortgage loans and unsecured personal loans;

(b) the property investment segment invests in prime

ofice space and comercial shops for their rental

income potential; and

of marketable securities for short-term investment

purposes.

4. 经营分部资料

作为管理用途，本集团根据其业务组织

成业务单位，有三个可报告的经营分部

如下：

(a) 放债分部从事于提供按揭贷款及无

抵押私人贷款；

(b) 物业投资分部投资于有潜力带来租

金收入之优质办公室单位及商业舖

位；及

业务作短期投资用途。

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

4. OPERATING SEGMENT INFORMATION

(continued)

Management monitors the results of the Group’s

operating segments separately for the purpose of making

decisions about resource alocation and performance

asesment. Segment performance is evaluated based on

reportable segment profit/los, which is a measure of

adjusted profit/los before tax from continuing

operations. The adjusted profit/los before tax from

continuing operations is measured consistently with the

Group’s profit/los before tax from continuing operations

except that bank interest income, corporate income as

wel as corporate expenses are excluded from such

measurement.

Segment asets exclude cash and cash equivalents, tax

recoverable, defered tax asets, and other unalocated

corporate asets as these asets are managed on a group

basis.

Segment liabilities exclude a loan advanced from a non-

controling shareholder of the Group’s subsidiary, an

amount due to the intermediate holding company, tax

payable, defered tax liabilities and other unalocated

corporate liabilities as these liabilities are managed on a

group basis.

Intersegment revenue are transacted with reference to

the seling prices used for sales made to third parties at

the then prevailing market prices.

（续）

管理层分开监察本集团经营分部的业

绩，作为分配资源及评估表现之决策用

途。分部表现按可报告的分部溢利╱亏

损评估，乃按持续经营业务的经调整除

税前溢利╱亏损的计量。持续经营业务

的经调整除税前溢利╱亏损的计量方式

与本集团持续经营业务的除税前溢利╱

亏损互相一致，惟该计量并不包括银行

利息收入、企业收入，以及企业开支。

分部资产不包括现金及现金等价物、可

收回税项、递延税项资产，以及其他未

分配企业资产，因为该等资产乃按集团

基准管理。

分部负债不包括本集团附属公司之非控

股东垫付之贷款、应付中间控股公司

款项、应缴税项、递延税项负债，以及

其他未分配企业负债，因为该等负债乃

按集团基准管理。

分部间的收入，参照向第三方销售所采

用的售价，按照当时现行的市场价格进

行交易。

2025
二零二五年
HK$’000
千港元
69,716
–
364
70,080
20,898
672,747

2025
二零二五年
HK$’000
千港元
14,914
2,520
590
18,024
(57,788)
487,585

2025
二零二五年
HK$’000
千港元
5,633
–
60
5,693
5,693
25,006

2025
二零二五年
HK$’000
千港元
90,263
2,520
1,014
93,797
(2,520)
91,277
(31,197)
16,363
–
(28,518)
(43,352)
1,185,338
803,841
1,989,179

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

4. OPERATING SEGMENT INFORMATION

(continued)

Money lendingProperty investmentSecurities tradingTotal

放债物业投资证券买卖合计

二零二四年二零二四年二零二四年二零二四年

HK$’000HK$’000HK$’000HK$’000

千港元千港元千港元千港元

Segment revenue分部收入

Revenue from external customers外界客户之收入72,74415,28825988,291

Intersegment revenue分部间的收入–2,520–2,520

Other income其他收入23813965442

Total segment revenue

and other income

分部收入及

其他收入总额72,98217,94732491,253

Reconciliation:对账：

Elimination of

intersegment revenue

撇销分部间的

收入(2,520)

Total revenue and

other income from

continuing operations

持续经营业务产生的

收入及其他收入

总额88,733

Segment results分部业绩20,76621,64431542,725

Reconciliation:对账：

Bank interest income银行利息收入14,982

Corporate and other

unalocated income

企业及其他

未分配收入10

Corporate and other

unalocated expenses

企业及其他

未分配开支(29,086)

Profit/(los) before tax from

continuing operations

持续经营业务产生的

除税前溢利╱（亏损）28,631

Segment asets分部资产811,751557,51724,7161,393,984

Reconciliation:对账：

Corporate and other

unalocated asets

企业及其他

未分配资产642,203

Total asets资产总额2,036,187

（续）

2025
二零二五年
HK$’000
千港元
3,245
35
–
–
37,059
–

2025
二零二五年
HK$’000
千港元
4,094
–
69,400
–
–
–

2025
二零二五年
HK$’000
千港元
–
–
–
(4,140)
–
–

2025
二零二五年
HK$’000
千港元
7,339
102,129
109,468
35
69,400
(4,140)
37,059
–

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

Money lendingProperty investmentSecurities tradingTotal

放债物业投资证券买卖合计

二零二四年二零二四年二零二四年二零二四年

HK$’000HK$’000HK$’000HK$’000

千港元千港元千港元千港元

Segment liabilities分部负债6,0014,457–10,458

Reconciliation:对账：

Corporate and other

unalocated liabilities

企业及其他

未分配负债123,804

Total liabilities负债总额134,262

Other segment information其他分部资料

Depreciation折旧247–247

Fair value loses/(gains) on

investment properties, net

投资物业之公平价值

亏损╱（收益），净额–(10,149)–(10,149)

Fair value gains on

equity investments

at fair value through

profit or los, net

按公平价值计入

损益的股权投资之

公平价值收益，

净额–(74)(74)

Provision for impairment loses

on loan and interest receivables

and reposesed asets, net

应收贷款及利息以及

抵债资产的减值亏损

拨备，净额37,964–37,964

Capital expenditure资本支出–28–531–559

* Capital expenditure consists of aditions to ofice

equipment and investment properties.

（续）

* 资本支出包括办公室设备及投资物业

的添置。

4. OPERATING SEGMENT INFORMATION

(continued)

2025
二零二五年
HK$’000
千港元
88,717
2,560
91,277

2025
二零二五年
HK$’000
千港元
468,947
196,860
665,807

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

4. OPERATING SEGMENT INFORMATION

(continued)

Geographical information

(a) Revenue from external customers and other

income

二零二四年

HK$’000

千港元

Hong Kong香港86,120

Southeast Asia except Hong Kong东南亚（不包括香港）2,613

Total revenue and other income收入及其他收入总额88,733

The revenue and other income information of

continuing operations above is based on the

locations of the customers.

(b) Non-curent asets

二零二四年

HK$’000

千港元

Hong Kong香港553,878

Southeast Asia except Hong Kong东南亚（不包括香港）197,200

Total non-curent asets非流动资产总额751,078

The non-curent aset information of continuing

operations above is based on the locations of the

asets and excludes an equity investment designated

at fair value through other comprehensive income

and defered tax asets.

（续）

地区资料

(a) 外界客户之收入及其他收入

上述持续经营业务的收入及其他收

入资料以客户所处区域为基础。

(b) 非流动资产

上述持续经营业务的非流动资产资

料以资产所处区域为基础，并不包

括指定为按公平价值计入其他全面

收益的股权投资及递延税项资产。

2025
二零二五年
HK$’000
千港元
69,716
14,914
4,140
1,493
90,263
16,363
565
331
118
17,377

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

5. REVENUE AND OTHER INCOME

Revenue represents interest income from mortgage loans

and unsecured personal loans, gros rental income from

investment properties, net fair value gains on equity

investments at fair value through profit or los and

dividend income from equity investments at fair value

through profit or los during the year.

An analysis of revenue and other income from continuing

operations is as folows:

二零二四年

HK$’000

千港元

Revenue收入

Interest income from mortgage loans

and unsecured personal loans

按揭贷款及无抵押

私人贷款的利息收入72,744

Gros rental income from

investment properties

投资物业之租金

收入总额15,288

Fair value gains on equity investments

at fair value through profit or los,

net

按公平价值计入损益的

股权投资之公平价值

收益，净额74

Dividend income from equity investments

at fair value through profit or los

按公平价值计入损益的

股权投资之股息收入185

Total合计88,291

Other income其他收入

Bank interest income银行利息收入14,982

Forfeiture of rental deposits from a tenant没收租户的租金按金–

Bad debt recovery坏账收回186

Others其他266

Total 合计15,434

5. 收入及其他收入

收入指本年度按揭贷款及无抵押私人贷

款的利息收入、投资物业之租金收入总

额、按公平价值计入损益的股权投资之

公平价值净收益，以及按公平价值计入

损益的股权投资之股息收入。

持续经营业务产生的收入及其他收入之

分析如下：

2025
二零二五年
HK$’000
千港元
5,262
1,780
750
2,530
21,599
1,030
22,629
558
–
3,258
69,400
37,059

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

6. PROFIT/(LOS) BEFORE TAX

The Group’s profit/(los) before tax from continuing

operations is arived at after charging/(crediting):

二零二四年

NotesHK$’000

附注千港元

Depreciation折旧135,573

Auditor’s remuneration:核数师酬金：

Audit services核数服务1,900

Non-audit services非核数服务470

Total合计2,370

Employe benefit expense

(including directors’ remuneration

in note 8):

雇员福利开支

（包括附注8之

董事酬金）：

Salaries and alowances薪金及津贴21,629

Pension scheme contributions退休金计划供款1,034

Total合计22,663

Lease payments not included in

the measurement of lease

liabilities

不包括在租赁

负债计量的

租赁付款额13(c)504

Foreign exchange diferences, net汇兑差额，净额547

Direct operating expenses

(including repairs and

maintenance) arising from

rental-earning investment

properties

赚取投资物业之

租金而产生的

直接经营开支

（包括维修

和保养）3,334

Fair value loses/(gains) on

investment properties, net

投资物业之公平价值

亏损╱（收益），净额14(10,149)

Provision for impairment loses

on loan and interest receivables

and reposesed asets, net

应收贷款及利息以及

抵债资产的减值

亏损拨备，净额37,964

* There are no forfeited contributions that may be used by

the Group as the employer to reduce the existing level of

contributions.

╱（亏损）

本集团持续经营业务的除税前溢利╱（亏

损）已扣除╱（计入）：

* 并无本集团作为雇主可以动用的已被

没收的供款，以减低现有的供款水平。

2025
二零二五年
HK$’000
千港元
2

2025
二零二五年
HK$’000
千港元
600
8,898
1,047
497
10,442
11,042

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

7. 融资成本

持续经营业务产生的融资成本分析如下：

8. 董事及五位最高薪雇员酬金

(a) 董事酬金

根据香港联合交易所有限公司（「香

港联交所」）证券上市规则（「上市

规则」）、香港《公司条例》第

383(1)(a)、(b)、(c)及(f)条以及

《公司（披露董事利益资料）规例》

第2部披露的本年度董事酬金如下：

7. FINANCE COSTS

An analysis of finance costs from continuing operations is

as folows:

二零二四年

HK$’000

千港元

Interest on lease liabilities租赁负债的利息1

8. DIRECTORS’ AND FIVE HIGHEST PAID

EMPLOYES’ EMOLUMENTS

(a) Directors’ remuneration

Directors’ remuneration for the year, disclosed

pursuant to the Rules Governing the Listing of

Securities (the “Listing Rules”) on The Stock

Exchange of Hong Kong Limited (the “Hong Kong

Stock Exchange”), section 383(1)(a), (b), (c) and

(f) of the Hong Kong Companies Ordinance and Part

2 of the Companies (Disclosure of Information

about Benefits of Directors) Regulation, is as folows:

二零二四年

HK$’000

千港元

Fes袍金575

Other emoluments:其他酬金：

Salaries, alowances and benefits

in kind

薪金、津贴及

实物利益8,412

Discretionary bonuses酌情花红1,245

Pension scheme contributions退休金计划供款484

Subtotal小计10,141

Total合计10,716

2025
二零二五年
HK$’000
千港元
150
150
150
150
600

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

(a) 董事酬金（续）

(i) 独立非执行董事

于本年度支付予独立非执行

董事之袍金如下：

于本年度，并无应付独立非执

行董事之其他酬金（二零二四年：

无）。

8. DIRECTORS’ AND FIVE HIGHEST PAID

EMPLOYES’ EMOLUMENTS (continued)

(a) Directors’ remuneration (continued)

(i) Independent non-executive directors

The fes paid to independent non-executive

directors during the year were as folows:

二零二四年

HK$’000

千港元

Mr. Cheung Chun Kwok张镇国先生150

Mr. Kwan Kai Kin, Keneth关启健先生150

Mr. Ho Yau Ming何友明先生150

Mr. Wong Steve Cheuk Hung黄卓雄先生125

Total合计575

There were no other emoluments payable to

the independent non-executive directors during

the year (2024: Nil).

2025	二零二五年
Executive directors:	执行董事：
Mr. Ng Wee Keat	黄伟杰先生	1,869	216	104	2,189
Ms. Sio Ion Kuan	萧润群女士	1,917	224	107	2,248
Ms. Ng Siew Lang, Linda	黄琇兰女士	1,156	137	65	1,358
Ms. Lilian Ng	黄莉莲女士	1,045	119	58	1,222
Ms. Chen Ka Chee	陈格致女士	918	111	51	1,080
Mr. Yu Wai Man	余伟文先生	1,417	180	80	1,677
Ms. Huang Si Teng	黄诗婷女士	576	60	32	668
Total	合计	8,898	1,047	497	10,442

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

(a) 董事酬金（续）

(i) 执行董事

于本年度，并无任何董事作出

放弃或同意放弃任何酬金之

安排。

8. DIRECTORS’ AND FIVE HIGHEST PAID

EMPLOYES’ EMOLUMENTS (continued)

(a) Directors’ remuneration (continued)

(i) Executive directors

Salaries,

alowancesPension

and benefitsDiscretionaryschemeTotal

in kindbonusescontributionsremuneration

薪金、津贴

及实物利益酌情花红

退休金

计划供款酬金总额

HK$’000HK$’000HK$’000HK$’000

千港元千港元千港元千港元

2024二零二四年

Executive directors:执行董事：

Mr. Ng We Keat黄伟杰先生1,8792771082,264

Ms. Sio Ion Kuan萧润群女士1,9272891112,327

Ms. Ng Siew Lang, Linda黄琇兰女士1,166178671,411

Ms. Lilian Ng黄莉莲女士1,050150601,260

Ms. Chen Ka Che陈格致女士896140521,088

Mr. Yu Wai Man余伟文先生1,114178651,357

Ms. Huang Si Teng黄诗婷女士3803321434

Total合计8,4121,24548410,141

There was no arangement under which a

director waived or agred to waive any

remuneration during the year.

2025
二零二五年
HK$’000
千港元
8,672
14
271
(112)
(6,174)
2,671

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

(b) 五位最高薪雇员酬金

于本年度，五位最高薪雇员包括五

位（二零二四年：五位）执行董事，

其酬金之详情已于上文附注8(a)内

披露。

9. 所得税

于本年度，香港利得税乃就在香港产生

之估计应课税溢利按16.5%（二零二四

年：16.5%）之税率拨备，惟根据利得

税两级制，本集团一间附属公司为合资

格实体。该附属公司首2,000,000港元

（二零二四年：2,000,000港元）的应课

税溢利将按8.25%（二零二四年：8.25%）

的税率征税，而其余应课税溢利则按

16.5%（二零二四年：16.5%）的税率征

税。其他地区之应课税溢利税项乃根据

本集团业务所在司法管辖区之现行税率

计算。

8. DIRECTORS’ AND FIVE HIGHEST PAID

EMPLOYES’ EMOLUMENTS (continued)

(b) Five highest paid employes’ emoluments

The five highest paid employes during the year

included five (2024: five) executive directors, details

of whose remuneration are disclosed in note 8(a)

above.

9. INCOME TAX

Hong Kong profits tax has ben provided at the rate of

16.5% (2024: 16.5%) on the estimated asesable

profits arising in Hong Kong during the year, except for

one subsidiary of the Group which is a qualifying entity

under the two-tiered profits tax rates regime. The first

HK$2,000,000 (2024: HK$2,000,000) of asesable

profits of this subsidiary are taxed at 8.25% (2024:

8.25%) and the remaining asesable profits are taxed at

16.5% (2024: 16.5%). Taxes on profits asesable

elsewhere have ben calculated at the rates of tax

prevailing in the jurisdictions in which the Group

operates.

二零二四年

HK$’000

千港元

Curent – Hong Kong即期－香港

Charge for the year本年度费用5,606

Underprovision in prior years过往年度拨备不足–

Curent – Elsewhere即期－其他地区

Charge for the year本年度费用280

Overprovision in prior years过往年度超额拨备–

Defered (note 24)递延税项（附注24）(2,943)

Total tax charge for the year from

continuing operations

本年度持续经营业务

的税项费用总额2,943

Hong Kong		Elsewhere		Total
香港		其他地区		合计
HK$’000	%	HK$’000	%	HK$’000	%
千港元		千港元		千港元
(45,627)		2,275		(43,352)
(7,529)	16.5	387	17.0	(7,142)	16.5
(165)	0.3	(101)	(4.4)	(266)	0.6
(2,914)	6.4	–	–	(2,914)	6.7
14	–	(112)	(4.9)	(98)	0.2
11,608	(25.4)	–	–	11,608	(26.8)
1,535	(3.4)	–	–	1,535	(3.5)
(37)	0.1	(15)	(0.7)	(52)	0.1
2,512	(5.5)	159	7.0	2,671	(6.2)

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

采用本公司及其大部分附属公司营业及╱

或经营之司法管辖区之法定税率计算之

除税前溢利╱（亏损）适用之税项开支

与按实际税率计算之税项开支之对账，

以及适用税率（即法定税率）与实际税

率之对账如下：

9. INCOME TAX (continued)

A reconciliation of the tax expense aplicable to profit/

(los) before tax at the statutory tax rates for the

jurisdictions in which the Company and the majority of its

subsidiaries are domiciled and/or operate to the tax

expense at the efective tax rates, and a reconciliation of

the aplicable rates (i.e., the statutory tax rates) to the

efective tax rates, are as folows:

二零二五年

Profit/(los) before

tax from continuing

operations

持续经营业务

产生的除税前

溢利╱（亏损）

Tax at the statutory tax rate按法定税率计算之税项

Lower tax rates enacted by

local authority

本地机关订立的

较低税率

Income not subject to tax毋须课税之收入

Adjustments in respect of

curent tax of previous

periods

对过往期间之

即期税项的

调整

Expenses not deductible

for tax

不可扣税之

开支

Tax loses not recognised未确认税务亏损

Others其他

Tax charge at the Group’s

efective rate and tax

charge from continuing

operations at the

efective tax rate

按本集团实际税率

计算之税项费用及

按实际税率计算之

持续经营业务

产生的税项费用

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

采用本公司及其大部分附属公司营业及╱

或经营之司法管辖区之法定税率计算之

除税前溢利╱（亏损）适用之税项开支

与按实际税率计算之税项开支之对账，

以及适用税率（即法定税率）与实际税

率之对账如下：（续）

9. INCOME TAX (continued)

A reconciliation of the tax expense aplicable to profit/

(los) before tax at the statutory tax rates for the

jurisdictions in which the Company and the majority of its

subsidiaries are domiciled and/or operate to the tax

expense at the efective tax rates, and a reconciliation of

the aplicable rates (i.e., the statutory tax rates) to the

efective tax rates, are as folows: (continued)

二零二四年

Hong KongElsewhereTotal

香港其他地区合计

HK$’000%HK$’000%HK$’000%

千港元千港元千港元

Profit before tax from

continuing operations

持续经营业务产生的

除税前溢利3,16825,46328,631

Profit before tax from a

discontinued operation

一项已终止经营业务

产生的除税前溢利9,303–9,303

Total合计12,47125,46337,934

Tax at the statutory tax rate按法定税率计算之税项2,05816.54,32917.06,38716.8

Lower tax rates enacted by

local authority

本地机关订立的

较低税率(165)(1.3)(101)(0.4)(266)(0.7)

Income not subject to tax毋须课税之收入(4,299)(34.5)(3,958)(15.5)(8,257)(21.7)

Expenses not deductible

for tax

不可扣税之

开支2,70721.7–2,7077.1

Tax loses not recognised未确认税务亏损2,21017.7–2,2105.8

Others其他1521.310–1620.5

Tax charge at the Group’s

efective rate

按本集团实际税率

计算之税项费用2,66321.42801.12,9437.8

Tax charge from continuing

operations at the

efective tax rate

按实际税率计算之

持续经营业务

产生的税项费用2,66384.12801.12,94310.3

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

10. 已终止经营业务

于二零二三年三月，董事决定终止其邮

轮租赁服务业务，并出售本公司之一间

间接非全资附属公司Kingston Maritime

Limited（「KML」），该公司仅从事邮轮租

赁服务。当KML之出售事项于二零二三年

四月二十八日完成时，本集团已停止其

邮轮租赁服务业务。于二零二三年三月

三十一日，邮轮租赁服务业务已分类为

一项已终止经营业务（「已终止经营业

务」），且自截至二零二三年三月三十一

日止年度起不再列为一项经营分部。

截至二零二四年三月三十一日止年度，

已终止经营业务的业绩列报如下：

10. DISCONTINUED OPERATION

In March 2023, the directors decided to cease its cruise

ship charter service busines and dispose of Kingston

Maritime Limited (“KML”), an indirect non-wholy owned

subsidiary of the Company, which was solely engaged in

cruise ship charter services. Upon completion of the

disposal of KML on 28 April 2023, the Group had ceased

its cruise ship charter service busines. As at 31 March

2023, the cruise ship charter service busines was

clasified as a discontinued operation (the “Discontinued

Operation”) and was no longer included as an operating

segment since the year ended 31 March 2023.

The results of the Discontinued Operation during the year

ended 31 March 2024 were presented below:

二零二四年

HK$’000

千港元

Revenue收入705

Administrative and operating expenses行政及经营开支(1,236)

Los for the year from the

Discontinued Operation

本年度已终止经营

业务产生的亏损(531)

Gain on disposal of a subsidiary

(note 31)

出售附属公司的收益

（附注31）9,834

Profit for the year from the

Discontinued Operation

本年度已终止经营

业务产生的溢利9,303

Atributable to:以下人士应占：

Owners of the Company本公司拥有人5,442

Non-controling interest非控股权益3,861

Total合计9,303

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

截至二零二四年三月三十一日止年度，

已终止经营业务产生的现金流量净额如

下：

截至二零二四年三月三十一日止年度，

来自已终止经营业务的每股基本及摊薄

盈利乃按以下各项计算：

11. 股息

董事不建议就截至二零二五年三月

三十一日止年度派付任何股息（二零

二四年：无）。

10. DISCONTINUED OPERATION (continued)

The net cash flow incured by the Discontinued

Operation during the year ended 31 March 2024 was as

folows:

二零二四年

HK$’000

千港元

Operating activities and net cash outflow经营活动及现金流出净额(23)

二零二四年

Earnings per share:每股盈利：

Basic, from the Discontinued Operation基本，来自已终止经营业务HK0.09 cent港仙

Diluted, from the Discontinued Operation摊薄，来自已终止经营业务HK0.09 cent港仙

The calculation of basic and diluted earnings per share

from the Discontinued Operation during the year ended

31 March 2024 was based on:

二零二四年

Profit atributable to ordinary

equity holders of the Company

from the Discontinued Operation

本公司普通股权持有人

应占来自已终止经营

业务的溢利HK$5,442,000港元

Number of ordinary shares in isue

during the year, used in the basic and

diluted earnings per share calculation

(note 12)

于本年度计算每股基本及

摊薄盈利时使用之

已发行普通股数目

（附注12）5,780,368,705

11. DIVIDEND

The directors do not recomend the payment of any

dividend for the year ended 31 March 2025 (2024: Nil).

2025
二零二五年
HK$’000
千港元
(55,659)
–
(55,659)

2025
二零二五年
5,780,368,705

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

12. 本公司普通股权持有人应占

每股盈利╱（亏损）

每股基本盈利╱（亏损）金额乃按照本公

司普通股权持有人应占本年度溢利╱

（亏损）及于本年度已发行普通股数目

5,780,368,705股（二零二四年：

5,780,368,705股）计算。

截至二零二五年及二零二四年三月

三十一日止年度，并无就摊薄对列报的

每股基本盈利╱（亏损）金额作出调整，

原因为尚未行使之购股权对列报的每股

基本盈利╱（亏损）金额产生了反摊薄

效应。

每股基本盈利╱（亏损）乃按以下各项

计算：

12. EARNINGS/(LOS) PER SHARE ATRIBUTABLE TO

ORDINARY EQUITY HOLDERS OF THE COMPANY

The calculation of the basic earnings/(los) per share

amounts is based on the profit/(los) for the year

atributable to ordinary equity holders of the Company,

and the number of ordinary shares of 5,780,368,705

(2024: 5,780,368,705) in isue during the year.

No adjustment has ben made to the basic earnings/

(los) per share amounts presented for the years ended

31 March 2025 and 2024 in respect of a dilution as the

impact of the share options outstanding had an anti-

dilutive efect on the basic earnings/(los) per share

amounts presented.

The calculation of the basic earnings/(los) per share is

based on:

二零二四年

HK$’000

千港元

Earnings/(los)盈利╱（亏损）

Profit/(los) atributable to ordinary equity

holders of the Company, used in the

basic and diluted earnings/(los)

per share calculation:

计算每股基本及摊薄盈利╱

（亏损）时使用之本公司

普通股权持有人应占

溢利╱（亏损）：

From continuing operations来自持续经营业务16,971

From the Discontinued Operation来自已终止经营业务5,442

Total 合计22,413

二零二四年

Shares股份

Number of ordinary shares in isue during

the year, used in the basic and diluted

earnings/(los) per share calculation

于本年度计算每股基本及

摊薄盈利╱（亏损）时使用

之已发行普通股数目5,780,368,705

Right-of-use assets			Owned assets
使用权资产			拥有的资产
Furniture,
Leasehold				Leasehold	fixtures and	Motor
land	Buildings	Total	Buildings	improvements	equipment	vehicles	Total	Total
租赁土地	楼宇	合计	楼宇	租赁物业装修	家私、装置及设备	汽车	合计	合计
HK$’000	HK$’000	HK$’000	HK$’000	HK$’000	HK$’000	HK$’000	HK$’000	HK$’000
千港元	千港元	千港元	千港元	千港元	千港元	千港元	千港元	千港元
138,343	–	138,343	10,875	5,443	4,650	2,125	23,093	161,436
(33,023)	–	(33,023)	(3,652)	(5,443)	(4,267)	(1,622)	(14,984)	(48,007)
105,320	–	105,320	7,223	–	383	503	8,109	113,429
105,320	–	105,320	7,223	–	383	503	8,109	113,429
–	169	169	–	–	12	–	12	181
(4,647)	(14)	(4,661)	(336)	–	(165)	(100)	(601)	(5,262)
100,673	155	100,828	6,887	–	230	403	7,520	108,348
138,343	169	138,512	10,875	5,443	4,617	2,125	23,060	161,572
(37,670)	(14)	(37,684)	(3,988)	(5,443)	(4,387)	(1,722)	(15,540)	(53,224)
100,673	155	100,828	6,887	–	230	403	7,520	108,348

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

、厂房及设备以及租赁负债13. PROPERTY, PLANT AND EQUIPMENT AND LEASE

LIABILITIES

31 March 2025二零二五年三月三十一日

At 1 April 2024:于二零二四年四月一日：

Cost成本

Acumulated depreciation累积折旧

Net carying amount账面净额

At 1 April 2024, net of

acumulated depreciation

于二零二四年四月一日，

扣除累积折旧

Aditions添置

Depreciation provided

during the year

于本年度之

折旧拨备

At 31 March 2025, net of

acumulated depreciation

于二零二五年

三月三十一日，

扣除累积折旧

At 31 March 2025:于二零二五年三月三十一日：

Cost成本

Acumulated depreciation累积折旧

Net carying amount账面净额

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

、厂房及设备以及租赁负债

（续）

附注：

(i) 本集团租赁土地的使用权为预付租赁

付款额。租赁土地连同拥有的楼宇为

持作自用。租赁土地按中期租赁持有，

其于二零三七年五月至二零五年

十二月之间届满。

(i) 本集团租用物业在其营运中使用。该

等资产经磋商后的租赁期为两至三年，

并无续期或终止选择权，所有租赁付

款额均为固定。

13. PROPERTY, PLANT AND EQUIPMENT AND LEASE

LIABILITIES (continued)

Right-of-use asetsOwned asets

使用权资产拥有的资产

Furniture,

LeaseholdLeaseholdfixtures andMotor

landBuildingsTotalBuildingsimprovementsequipmentvehiclesTotalTotal

租赁土地楼宇合计楼宇

租赁物业

装修

家私、装置

及设备汽车合计合计

HK$’000HK$’000HK$’000HK$’000HK$’000HK$’000HK$’000HK$’000HK$’000

千港元千港元千港元千港元千港元千港元千港元千港元千港元

31 March 2024二零二四年三月三十一日

At 1 April 2023:于二零二三年四月一日：

Cost成本138,343358138,70110,8755,4434,5482,12522,991161,692

Acumulated depreciation累积折旧(28,378)(289)(28,667)(3,317)(5,443)(3,870)(1,495)(14,125)(42,792)

Net carying amount账面净额109,96569110,0347,558–6786308,866118,900

At 1 April 2023, net of

acumulated depreciation

于二零二三年四月一日，

扣除累积折旧109,96569110,0347,558–6786308,866118,900

Aditions添置–102–102102

Depreciation provided

during the year

于本年度之

折旧拨备(4,645)(69)(4,714)(335)–(397)(127)(859)(5,573)

At 31 March 2024, net of

acumulated depreciation

于二零二四年三月三十一日，

扣除累积折旧105,320–105,3207,223–3835038,109113,429

At 31 March 2024:于二零二四年三月三十一日：

Cost成本138,343–138,34310,8755,4434,6502,12523,093161,436

Acumulated depreciation累积折旧(33,023)–(33,023)(3,652)(5,443)(4,267)(1,622)(14,984)(48,007)

Net carying amount账面净额105,320–105,3207,223–3835038,109113,429

Notes:

(i) The Group’s right of use of leasehold land represents

prepaid lease payments. The leasehold land, together with

the owned buildings, is held for own use. The leasehold

land is held on medium-term leases expiring betwen May

2037 and December 2055.

(i) The Group leases properties used in its operations. Leases

for these asets are negotiated for terms ranging from two

to thre years with no extension or termination options and

al the lease payments are fixed.

105,320	–	105,320
–	169	169
(4,647)	(14)	(4,661)
100,673	155	100,828

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

、厂房及设备以及租赁负债

（续）

于二零二五年三月三十一日，账面净额

为103,983,000港元（二零二四年：

108,681,000港元）之香港土地及楼宇

已作抵押，以取得本集团获授之银行融

资（附注29），该金额于二零二五年三

月三十一日未获动用（二零二四年：无）。

本集团作为承租人

本集团为其营运中使用的不同土地及楼

宇项目签订了租赁合约。为取得租赁土

地，本集团先支付一笔过预付款项，有

关租赁期为23至44年，根据该等土地

租赁的条款，无须持续付款。

物业的租赁期一般为期两至三年。一般

而言，本集团在向本集团以外转让和分

租赁资产方面受到限制。

(a) 使用权资产

于本年度，本集团使用权资产的账

面金额及有关变动如下：

13. PROPERTY, PLANT AND EQUIPMENT AND LEASE

LIABILITIES (continued)

At 31 March 2025, the land and buildings in Hong Kong

with net carying amount of HK$103,983,000 (2024:

HK$108,681,000) were pledged to secure a banking

facility granted to the Group (note 29) which was not

utilised as at 31 March 2025 (2024: Nil).

The Group as a lese

The Group has lease contracts for various items of land

and buildings used in its operations. Lump sum payments

were made upfront to acquire the leasehold land with

lease periods of 23 to 44 years, and no ongoing

payments wil be made under the terms of these land

leases.

Leases of properties generaly have lease terms betwen

two to thre years. Generaly, the Group is restricted from

asigning and subleasing the leased asets outside the

Group.

(a) Right-of-use asets

The carying amounts of the Group’s right-of-use

asets and the movements during the year are as

folows:

Leasehold

landBuildingsTotal

租赁土地楼宇合计

HK$’000HK$’000HK$’000

千港元千港元千港元

As at 1 April 2023于二零二三年四月一日109,96569110,034

Depreciation charge折旧费用(4,645)(69)(4,714)

As 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

Adition添置

Depreciation charge折旧费用

As at 31 March 2025于二零二五年三月三十一日

2025
二零二五年
HK$’000
千港元
–
169
2
(15)
156
83
73

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

、厂房及设备以及租赁负债

（续）

本集团作为承租人（续）

(b) 租赁负债

于本年度，租赁负债的账面金额及

有关变动如下：

租赁负债的到期日分析在财务报表

附注37内披露。

13. PROPERTY, PLANT AND EQUIPMENT AND LEASE

LIABILITIES (continued)

The Group as a lese (continued)

(b) Lease liabilities

The carying amount of lease liabilities and the

movements during the year are as folows:

Lease liabilities

租赁负债

二零二四年

HK$’000

千港元

Carying amount at begining of year于年初的账面金额72

New lease新租赁–

Acretion of interest recognised

during the year

于本年度确认的

利息增加1

Payments付款(73)

Carying amount at end of year于年终的账面金额–

Analysed into:分析为：

Curent portion流动部分–

Non-curent portion非流动部分–

The maturity analysis of lease liabilities is disclosed

in note 37 to the financial statements.

2025
二零二五年
HK$’000
千港元
2
4,661
558
5,221

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

、厂房及设备以及租赁负债

（续）

本集团作为承租人（续）

下：

本集团作为出租人

本集团根据经营租赁安排将其投资物业

（附注14）（包括位于香港的五项商业物

业以及位于新加坡的一项商业物业）出

租。租赁条款一般要求租户支付保证

金，并规定可根据当时的市场状况定期

调整租金。于本年度，本集团确认的租

金收入为14,914,000港元（二零二四年：

15,288,000港元），有关详情载于财务

报表附注5内。

13. PROPERTY, PLANT AND EQUIPMENT AND LEASE

LIABILITIES (continued)

The Group as a lese (continued)

relation to leases are as folows:

二零二四年

HK$’000

千港元

Interest on lease liabilities租赁负债的利息1

Depreciation charge of right-of-use asets使用权资产的折旧费用4,714

Expense relating to short-term leases

(included in administrative and

operating expenses)

与短期租赁有关的开支

（包括在行政及

经营开支内）504

Total amount recognised in profit or los在损益内确认的总金额5,219

The Group as a lesor

The Group leases its investment properties (note 14)

comprising five comercial properties in Hong Kong and

one comercial property in Singapore under operating

lease arangements. The terms of the leases generaly

require the tenants to pay security deposits and provide

for periodic rent adjustments acording to the then

prevailing market conditions. Rental income recognised

by the Group during the year was HK$14,914,000

(2024: HK$15,288,000), details of which are included in

note 5 to the financial statements.

2025
二零二五年
HK$’000
千港元
10,874
3,869
1,054
15,797

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

、厂房及设备以及租赁负债

（续）

本集团作为出租人（续）

于二零二五年及二零二四年三月三十一

日，本集团根据与其租户订立的经营租

赁于未来期间应收的未折现租赁付款额

如下：

14. 投资物业

于二零二五年三月三十一日，本集团的

投资物业包括五项（二零二四年：五项）

位于香港之商业物业及一项（二零二四

年：一项）位于新加坡之商业物业。于

二零二五年三月三十一日，本集团的投

资物业乃根据由独立专业合资格估值师

莱坊测量师行有限公司及PREMAS

Valuers & Property Consultants Pte. Ltd.

进行的估值重估为总值485,560,000港

元（二零二四年：555,300,000港元）。

每年，本集团执行董事决定委任哪一间

外聘估值师负责本集团物业的外部估

值。遴选准则包括市场知识、声誉、独

立性及是否维持专业水准。本集团执行

董事与估值师分别就中期及全年财务报

告每年进行估值时讨论估值假设及估值

结果两次。

13. PROPERTY, PLANT AND EQUIPMENT AND LEASE

LIABILITIES (continued)

The Group as a lesor (continued)

At 31 March 2025 and 2024, the undiscounted lease

payments receivable by the Group in future periods

under operating leases with its tenants are as folows:

二零二四年

HK$’000

千港元

Within one year一年内10,973

After one year but within two years一年后但两年内6,189

After two years but within thre years两年后但三年内1,615

Total合计18,777

14. INVESTMENT PROPERTIES

At 31 March 2025, the Group’s investment properties

consist of five (2024: five) comercial properties in

Hong Kong and one (2024: one) comercial property in

Singapore. The Group’s investment properties were

revalued on 31 March 2025 based on valuations

performed by Knight Frank Pety Limited and PREMAS

Valuers & Property Consultants Pte. Ltd., independent

profesionaly qualified valuers, at an agregate balance

of HK$485,560,000 (2024: HK$555,300,000). Each

year, the Group’s executive directors decide to apoint

which external valuer to be responsible for the external

valuations of the Group’s properties. Selection criteria

include market knowledge, reputation, independence and

whether profesional standards are maintained. The

Group’s executive directors have discusions with the

valuers on the valuation asumptions and valuation

results twice a year when the valuations are performed

for interim and anual financial reporting respectively.

2025	二零二五年
Commercial properties	商业物业	–	–	485,560	485,560

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

根据经营租赁，投资物业乃租予第三

方，有关进一步概要详情载于财务报表

附注13内。

本集团投资物业之进一步详情载于第

263及264页。

公平价值层次

下表显示本集团投资物业的公平价值计

量层次：

于本年度，概无在第一层次及第二层次

之间转换及概无在第三层次转入或转出

公平价值计量（二零二四年：无）。

14. INVESTMENT PROPERTIES (continued)

The investment properties are leased to third parties

under operating leases, further sumary details of which

are included in note 13 to the financial statements.

Further details of the Group’s investment properties are

included on pages 263 and 264.

Fair value hierarchy

The folowing table ilustrates the fair value measurement

hierarchy of the Group’s investment properties:

Fair value measurement as at 31 March using

于三月三十一日公平价值计量采用

Quoted pricesSignificantSignificant

in activeobservableunobservable

marketsinputsinputs

(Level 1)(Level 2)(Level 3)Total

活跃

市场报价

（第一层次）

重大可

观察输入值

（第二层次）

重大不可

观察输入值

（第三层次）合计

HK$’000HK$’000HK$’000HK$’000

千港元千港元千港元千港元

Recuring fair value

measurement for:

持续性公平

价值计量：

2024二零二四年

Comercial properties商业物业–555,300555,300

During the year, there were no transfers of fair value

measurements betwen Level 1 and Level 2 and no

transfers into or out of Level 3 (2024: Nil).

2025
二零二五年
HK$’000
千港元
555,300
–
(69,400)
(340)
485,560

2025
二零二五年
HK$12,000 to HK$33,061
12,000港元至 33,061港元
HK$228 to HK$256 228港元至256港元 3.25% to 3.50% 3.25%至3.50%

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

公平价值层次（续）

分类于公平价值层次内第三层次的公平

价值计量的对账：

以下为就投资物业估值所采用的估值技

术及主要输入值的概要：

14. INVESTMENT PROPERTIES (continued)

Fair value hierarchy (continued)

Reconciliation of fair value measurements categorised

within Level 3 of the fair value hierarchy:

Comercial properties

商业物业

二零二四年

HK$’000

千港元

Carying amount at begining of year于年初的账面金额547,700

Adition (from subsequent expenditure)添置（来自后续支出）531

Net gains/(loses) from fair value

adjustments credited/(charged) to

profit or los

在损益内计入╱（扣除）的

公平价值调整之

净收益╱（亏损）10,149

Exchange realignment汇兑调整(3,080)

Carying amount at end of year于年终的账面金额555,300

Below is a sumary of the valuation techniques used and

the key inputs to the valuation of investment properties:

Valuation

techniques

Significant

unobservable inputsRange

估值技术重大不可观察输入值范围

二零二四年

Comercial

properties

Direct comparison

aproach method

Market price per square fot

每平方呎市场价格

HK$13,400 to

HK$37,802

商业物业直接比较法13,400港元至

37,802港元

Income capitalisation

aproach method

收入资本化法

Market rent per square fot

每平方呎市场租金

Capitalisation rate

资本化比率3.25%至3.50%

HK$250 to HK$340

250港元至340港元

2.75% to 3.00%

2.75%至3.00%

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

公平价值层次（续）

直接比较法通过比较在公开市场取得类

似物业的价值而提供没收财产的市场价

值。其在厘定物业价值时依循三个基本

步骤，包括确认物业的最大及最佳用途；

确认先前已出售的类似物业（「可比较

销售」）；及对可比较销售的价值作出调

整。

主要输入值为每平方呎市场价格。市场

价格大幅增加╱减少会导致投资物业公

平价值大幅增加╱减少。

以收入资本化法厘定的公平价值为以资

本化比率将合约年租金通过现有租赁期

折现的期间价值及复归价值的总和；与

现有租赁期后的平均单位市场租金按资

本化比率的总和。

主要输入值为每平方呎市场租金及资本

化比率。市场租金单独大幅增加╱减少

会导致投资物业公平价值大幅增加╱减

少，以及资本化比率单独大幅增加╱减

少会导致投资物业公平价值大幅减少╱

增加。

14. INVESTMENT PROPERTIES (continued)

Fair value hierarchy (continued)

The direct comparison aproach method provides the

market value of an expropriated property by comparing it

to values obtained in the open market of similar

properties. It folows thre basic steps in ariving at the

value of the properties, including identifying the highest

and best use of the property; identifying similar

properties that have ben previously sold (the

“Comparable Sales”); and adjusting the value of the

Comparable Sales.

The key input was the market price per square fot,

where a significant increase/decrease in the market price

would result in a significant increase/decrease in the fair

value of the investment properties.

The fair value determined by the income capitalisation

aproach method is the sum of the term value and the

reversionary value by discounting the contracted anual

rent at the capitalisation rate over the existing lease

period; and the sum of the average unit market rent at

the capitalisation rate after the existing lease period.

The key inputs were the market rent per square fot and

the capitalisation rate, where a significant increase/

decrease in the market rent in isolation would result in a

significant increase/decrease in the fair value of the

investment properties and a significant increase/decrease

in the capitalisation rate in isolation would result in a

significant decrease/increase in the fair value of the

investment properties.

2025
二零二五年
HK$’000
千港元
3,434

2025
二零二五年
HK$’000
千港元
2,165
8,281
10,446
(453)
9,993

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

15. 指定为按公平价值计入其他全面

收益的股权投资

上述股权投资已不可撤销地指定为按公

平价值计入其他全面收益，原因为本集

团认为有关投资的性质属策略性。

截至二零二五年三月三十一日止年度，

本集团并无从其非上市股权投资收取任

何股息（二零二四年：无）。

、按金及其他应收账款

15. EQUITY INVESTMENT DESIGNATED AT FAIR VALUE

THROUGH OTHER COMPREHENSIVE INCOME

二零二四年

HK$’000

千港元

Equity investment designated

at fair value through other

comprehensive income

指定为按公平价值计入

其他全面收益的

股权投资

Unlisted equity investment,

at fair value

按公平价值的

非上市股权投资3,347

The above equity investment was irevocably designated

at fair value through other comprehensive income as the

Group considers this investment to be strategic in nature.

During the year ended 31 March 2025, the Group did

not receive any dividend (2024: Nil) from its unlisted

equity investment.

16. PREPAYMENTS, DEPOSITS AND OTHER

RECEIVABLES

二零二四年

HK$’000

千港元

Prepayments预付款项1,958

Deposits and other receivables按金及其他应收账款7,244

Total合计9,202

Les: Non-curent portion减：非流动部分(445)

Curent portion流动部分8,757

2025
二零二五年
HK$’000
千港元
592,015
(14,677)
577,338
(71,446)
505,892

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

、按金及其他应收账款

（续）

按金及其他应收账款主要为可向借款人

报销的专业费用及其他开支，以及银行

定期存款的应收利息。如适用，本集团

于各报告日期参考本集团的历史损失记

录应用损失率法进行减值分析。损失率

会作出调整，以反映当前状况及未来经

济状况预测（如适当）。

上述结余内所包含的金融资产乃有关在

近期并无拖欠款项及逾期款项记录的应

收账款。于二零二五年及二零二四年三

月三十一日，亏损拨备被评估为不大。

17. 应收贷款及利息

16. PREPAYMENTS, DEPOSITS AND OTHER

RECEIVABLES (continued)

Deposits and other receivables mainly represent

profesional and other expenses reimbursable from

borowers, as wel as interest receivables for time

deposits at banks. Where aplicable, an impairment

analysis is performed at each reporting date by aplying

a los rate aproach with reference to the historical los

record of the Group. The los rate is adjusted to reflect

the curent conditions and forecasts of future economic

conditions, as apropriate.

The financial asets included in the above balances relate

to receivables for which there was no recent history of

default and past due amounts. As at 31 March 2025 and

2024, the los alowances were asesed to be minimal.

17. LOAN AND INTEREST RECEIVABLES

二零二四年

HK$’000

千港元

Loan and interest receivables应收贷款及利息741,494

Les: Provision for impairment loses

on loan and interest receivables

减：应收贷款及利息

的减值亏损拨备(16,978)

Loan and interest receivables,

net of provision

应收贷款及利息，

已扣除拨备724,516

Les: Non-curent portion减：非流动部分(81,904)

Curent portion流动部分642,612

2025
二零二五年
HK$’000
千港元
16,978
38,153
(40,454)
14,677

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

本集团的应收贷款及利息乃源自于香港

提供按揭贷款及无抵押私人贷款之放债

业务，并以港元为结算单位。

于二零二五年三月三十一日，除

10,339,000港元（二零二四年：

11,577,000港元）的应收贷款及利息乃

无抵押、计息及按与客户协定的指定期

间内偿还外，所有应收贷款及利息均由

客户提供的抵押品作抵押、计息及按与

客户协定的指定期间内偿还。在各报告

日期的信贷风险最高风险为上述应收贷

款及利息的账面值。

应收贷款及利息的减值亏损拨备变动如

下：

17. LOAN AND INTEREST RECEIVABLES (continued)

The Group’s loan and interest receivables, which arose

from the money lending busines of providing mortgage

loans and unsecured personal loans in Hong Kong, are

denominated in Hong Kong dolars.

Except for loan and interest receivables of HK$10,339,000

(2024: HK$11,577,000) as at 31 March 2025, which are

unsecured, interest-bearing and repayable with fixed

terms agred with customers, al loan and interest

receivables are secured by colateral provided by

customers, interest-bearing and repayable with fixed

terms agred with the customers. The maximum

exposure to credit risk at each of the reporting dates is

the carying value of the loan and interest receivables

mentioned above.

The movements in the provision for impairment loses

on loan and interest receivables are as folows:

二零二四年

HK$’000

千港元

At begining of year于年初4,573

Provision for impairment loses on loan

and interest receivables, net

应收贷款及利息的减值

亏损拨备，净额25,553

Transfer to provision for impairment

loses on reposesed asets (note 20)

转拨至抵债资产的减值

亏损拨备（附注20）(13,148)

At end of year于年终16,978

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

于二零二五年三月三十一日，已逾期之

应收贷款及利息为7,345,000港元（二零

二四年：6,622,000港元）。除应收无抵

押私人贷款及利息654,000港元（二零

二四年：811,000港元）逾期外，逾期结

余6,691,000港元（二零二四年：

5,811,000港元）为按揭贷款及此乃与多

名第三方客户有关。

截至二零二五年三月三十一日止年度，

分别有按揭贷款及无抵押私人贷款的减

值亏损拨备38,984,000港元（二零二四

年：25,771,000港元）及减值亏损拨回

831,000港元（二零二四年：218,000港

元）。

17. LOAN AND INTEREST RECEIVABLES (continued)

As at 31 March 2025, loan and interest receivables of

HK$7,345,000 (2024: HK$6,622,000) were past due.

Except for overdue unsecured personal loan and interest

receivables of HK$654,000 (2024: HK$811,000) with no

colateral, the overdue balances of HK$6,691,000 (2024:

HK$5,811,000) were mortgage loans and were related to

a number of third-party customers.

During the year ended 31 March 2025, there was a

provision for impairment loses of HK$38,984,000

(2024: HK$25,771,000) and a reversal of impairment

loses of HK$831,000 (2024: HK$218,000) for

mortgage loans and unsecured personal loans,

respectively.

985	2,169	13,824	16,978
(249)	–	(678)	(927)
121	(121)	–	–
(13)	13	–	–
(141)	(1,943)	2,084	–
(33)	(2,051)	2,084	–
(77)	247	34,146	34,316
4,045	348	52	4,445
319	–	–	319
4,990	713	49,428	55,131
–	–	(40,454)	(40,454)
4,990	713	8,974	14,677

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

本集团应收贷款及利息的减值亏损拨备

之变动如下：

17. LOAN AND INTEREST RECEIVABLES (continued)

Movements in the Group’s provision for impairment

loses on loan and interest receivables are as folows:

Stage 1Stage 2Stage 3Total

第一阶段第二阶段第三阶段合计

HK$’000HK$’000HK$’000HK$’000

千港元千港元千港元千港元

As at 1 April 2023于二零二三年四月一日951373,5854,573

Loans recovered or repaid during the year于本年度已收回或已偿还的贷款(296)–(383)(679)

Transfer to lifetime ECLs

not credit-impaired

(Stage 2)

转拨至整个存续期预期

信用损失（未信用减值）

（第二阶段）(73)73–

Transfer to lifetime ECLs

credit-impaired

(Stage 3)

转拨至整个存续期预期

信用损失（已信用减值）

（第三阶段）(110)(38)148–

Total transfers betwen stages阶段之间转拨总额(183)35148–

Impact on ECLs exposures

transfered betwen stages

during the year

于本年度风险敞口阶段之间

的转拨对预期信用损失

的影响981,08022,70523,883

Movements due to changes in credit risk因信贷风险改变而导致的变动1591,0179172,093

New loans originated源自新贷款256–256

9852,16926,97230,126

Transfer to provision for impairment

loses on reposesed asets

转拨至抵债资产的减值

亏损拨备–(13,148)(13,148)

As 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

Loans recovered or repaid during the year于本年度已收回或已偿还的贷款

Transfer to 12-month ECLs

not credit-impaired

(Stage 1)

转拨至12个月预期

信用损失（未信用减值）

（第一阶段）

Transfer to lifetime ECLs

not credit-impaired

(Stage 2)

转拨至整个存续期预期

信用损失（未信用减值）

（第二阶段）

Transfer to lifetime ECLs

credit-impaired

(Stage 3)

转拨至整个存续期预期

信用损失（已信用减值）

（第三阶段）

Total transfers betwen stages阶段之间转拨总额

Impact on ECLs exposures

transfered betwen stages

during the year

于本年度风险敞口阶段之间

的转拨对预期信用损失

的影响

Movements due to changes in credit risk因信贷风险改变而导致的变动

New loans originated源自新贷款

Transfer to provision for impairment

loses on reposesed asets

转拨至抵债资产的减值

亏损拨备

As at 31 March 2025于二零二五年三月三十一日

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

就信贷风险自初始确认后未显著增加及

并未信用减值的应收贷款及利息（「第

一阶段」）而言，预期信用损失乃按相当

于整个存续期预期信用损失中有关可能

于未来12个月内出现的违约事件的部

分的金额计量。倘若识别到信贷风险自

初始确认后已显著增加（「第二阶段」），

但尚未被视作已信用减值，预期信用损

失乃按整个存续期预期信用损失计量。

一般而言，当应收贷款或其有关的分期

付款逾期30日，则信贷风险已显著增

加，于二零二五年三月三十一日，根据

预期信用损失模式评估，在第一阶段及

第二阶段分别作出拨备4,990,000港元

（二零二四年：985,000港元）及

713,000港元（二零二四年：2,169,000

港元）。

一般而言，应收贷款及利息或其相关的

分期还款逾期90日（「第三阶段」），应

收贷款及利息则会被视作违约。于二零

二五年三月三十一日，总金额为

120,534,000港元（二零二四年：

95,787,000港元）之应收贷款及利息已

违约而归入第三阶段整个存续期预期信

用损失，并作出拨备8,974,000港元

（二零二四年：13,824,000港元）。

17. LOAN AND INTEREST RECEIVABLES (continued)

For loan and interest receivables that are not credit-

impaired and without a significant increase in credit risk

since initial recognition (“Stage 1”), ECLs are measured at

an amount equal to the portion of the lifetime ECLs that

results from default events posible within the next 12

months. If a significant increase in credit risk since initial

recognition is identified (“Stage 2”) but not yet demed

to be credit-impaired, the ECLs are measured based on

lifetime ECLs. In general, when loan receivables or their

related instalments are overdue by 30 days, there is a

significant increase in credit risk. As at 31 March 2025,

provisions of HK$4,990,000 (2024: HK$985,000) and

HK$713,000 (2024: HK$2,169,000) were made under

Stage 1 and Stage 2 respectively based on asesment

from the ECL model.

In general, loan and interest receivables are considered in

default when the loan and interest receivables or their

related instalments are overdue by 90 days (“Stage 3”).

As at 31 March 2025, loan and interest receivables with

an agregate amount of HK$120,534,000 (2024:

HK$95,787,000) were in default under Stage 3 lifetime

ECLs and a provision of HK$8,974,000 (2024:

HK$13,824,000) was made.

2025
二零二五年
HK$’000
千港元
505,892
29,930
41,516
577,338

2025
二零二五年
HK$’000
千港元
1,057

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

于各报告期末应收贷款及利息根据到期

日（已扣除拨备）之到期间如下：

18. 应收租赁款

本集团与客户间之发票条款主要以信贷

形式进行。发票通常须于发出后30日内

缴清。每一客户享有信贷上限。本集团

正力求对未偿还之应收账款加以严谨控

制。高级管理人员会定期审查过期之款

项。本集团持有作为担保之抵押品主要

类别为向租户收取3,881,000港元

（二零二四年：4,021,000港元）之按金。

应收租赁款乃租户欠款及逾期金额按固

定利率计息。

17. LOAN AND INTEREST RECEIVABLES (continued)

A maturity profile of the loan and interest receivables as

at the end of each reporting period, based on the

maturity date, net of provision, is as folows:

二零二四年

HK$’000

千港元

Curent即期642,612

Over one year and within five years一年以上及五年之内37,684

Over five years五年以上44,220

Total合计724,516

18. LEASE RECEIVABLES

二零二四年

HK$’000

千港元

Lease receivables应收租赁款1,242

The Group’s biling terms with customers are mainly on

credit. Invoices are normaly payable within 30 days of

isuance. Each customer has a maximum credit limit. The

Group seks to maintain strict control over its outstanding

receivables. Overdue balances are regularly reviewed by

senior management. The main type of colateral held by

the Group as security is deposits received from tenants

of HK$3,881,000 (2024: HK$4,021,000). Lease

receivables were due from tenants and bear interest at a

fixed rate on the overdue amount.

2025
二零二五年
HK$’000
千港元
108
108
108
733
1,057

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

根据发票日期，于报告期末对应收租赁

款进行的账龄分析如下：

于各报告日期，本集团采用拨备矩阵计

量预期信用损失，以进行减值分析。损

失形态类似的不同客户分部会进行分

组，拨备率以分组的逾期日数为基础。

有关计算反映概率加权结果以及于报告

日期可得有关过去事件、当前状况及未

来经济状况预测的合理且有依据的信

息。一般而言，应收租赁款如逾期超过

一年及并无进行任何强制执行活动，就

会撇销。

本集团应用香港财务报告准则第9号的

简化方法计提预期信用损失拨备，其允

许对所有应收租赁款确认整个存续期预

期损失拨备。就上述各组别的应收租赁

款而言，本集团应收租赁款的预期信用

损失率不高。

18. LEASE RECEIVABLES (continued)

An ageing analysis of the lease receivables as at the end

of the reporting period, based on the invoice date, is as

folows:

二零二四年

HK$’000

千港元

Within 1 month一个月内273

1 to 2 months一至两个月273

2 to 3 months两至三个月272

Over 3 months三个月以上424

Total合计1,242

An impairment analysis is performed at each reporting

date using a provision matrix to measure ECLs. The

provision rates are based on days past due for groupings

of various customer segments with similar los paterns.

The calculation reflects the probability-weighted outcome

and reasonable and suportable information that is

available at the reporting date about past events, curent

conditions and forecasts of future economic conditions.

Generaly, lease receivables are writen of if past due for

more than one year and are not subject to enforcement

activity.

The Group aplies the simplified aproach to providing

for ECLs prescribed by HKFRS 9 which permits the use of

the lifetime expected los provision for al lease

receivables. The expected credit los rate for the Group’s

lease receivables is minimal for al the above bands of

lease receivables.

2025
二零二五年
HK$’000
千港元
14,132
77,390
42,941
(46,214)
88,249

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

19. 应收证券经纪商的款项

有关结余为存放于证券经纪商的按金，

在近期并无拖欠款项记录及按浮动利率

计息。应收证券经纪商的款项并无逾期

款项。于二零二五年及二零二四年三月

三十一日，亏损拨备被评估为不大。

20. 抵债资产

抵债资产指信贷减值的应收贷款及利息

以及其相关可报销开支，而有关贷款借

款人违约时，本集团已透过法庭诉讼程

序取得持有、使用、占用及享有（包括

出售及出租的权利）抵押资产的专属权

利及特权。于三月三十一日持有的抵债

资产的性质及账面值概述如下：

19. AMOUNTS DUE FROM SECURITY BROKERS

The balances represent deposits with security brokers

with no recent history of default and bear interest at

floating rates. There were no overdue amounts due from

the security brokers. As at 31 March 2025 and 2024, the

los alowances were asesed to be minimal.

20. REPOSESED ASETS

Reposesed asets represent credit-impaired loan and

interest receivables and their related reimbursable

expenses for which the Group has acquired the sole and

exclusive right and privilege to hold, use, ocupy and

enjoy (including the right to sel and rent) the colateral

asets through court procedings upon default of the

related loan borowers. The nature and carying value of

reposesed asets held as at 31 March are sumarised

as folows:

二零二四年

HK$’000

千港元

Reposesed asets represented by the

rights to the folowing colateral:

按以下抵押品权利呈列之

抵债资产：

– comercial properties– 商业物业25,055

– residential properties– 住宅物业75,751

– industrial properties– 工业物业2,229

Les: Provision for impairment loses

on reposesed asets

减：抵债资产之

减值亏损拨备(22,053)

Reposesed asets, net of provision抵债资产，扣除拨备80,982

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

根据本集团截至报告日期已为出售抵债

资产而订立的临时买卖协议所列的实际

交易价格以及由独立专业合资格估值师

莱坊测量师行有限公司采用市场比较法

（反映类似物业最近的交易价格，并就

有关物业的性质、位置及状况的差异作

出调整）进行的估值，本集团于二零

二五年三月三十一日收回之相关抵押品

的估计市场价值为91,728,000港元

（二零二四年：86,270,000港元）。每

年，本集团执行董事决定委任哪一家外

聘估值师负责本集团抵债资产的外部

估值。遴选准则包括市场知识、声誉、

独立性及是否维持专业水准。本集团

执行董事与估值师分别就中期及年度

财务报告每年进行估值时讨论估值假设

及估值结果两次。

20. REPOSESED ASETS (continued)

The estimated market value of the underlying colateral

reposesed by the Group as at 31 March 2025

amounted to HK$91,728,000 (2024: HK$86,270,000),

which was based on actual transaction prices listed on

provisional sale and purchase agrements that the Group

had entered into to dispose of the reposesed asets up

to the report date and valuation caried out by Knight

Frank Pety Limited, an independent profesionaly

qualified valuer, using the market comparable aproach

that reflects recent transaction prices for similar

properties, adjusted for diferences in the nature, location

and condition of the properties under review. Each year,

the Group’s executive directors decide to apoint which

external valuer to be responsible for the external

valuation of the Group’s reposesed asets. Selection

criteria include market knowledge, reputation,

independence and whether profesional standards are

maintained. The Group’s executive directors have

discusions with the valuer on the valuation asumptions

and valuation results twice a year when the valuation is

performed for interim and anual financial reporting

respectively.

2025
二零二五年
HK$’000
千港元
22,053
40,454
(1,094)
(15,199)
46,214

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

截至二零二五年三月三十一日止年度，

就账面金额超过市场价值减出售成本之

抵债资产作出减值亏损拨备3,876,000

港元（二零二四年：12,280,000港元），

而就市场价值减出售成本超过账面金额

的抵债资产作出减值亏损拨回4,970,000

港元（二零二四年：131,000港元）。

抵债资产的减值亏损拨备之变动如下：

20. REPOSESED ASETS (continued)

During the year ended 31 March 2025, a provision for

impairment loses of HK$3,876,000 (2024:

HK$12,280,000) was made for reposesed asets

whose carying amounts exceded the market values les

costs to sel and a reversal of impairment loses of

HK$4,970,000 (2024: HK$131,000) was made for the

reposesed asets whose market values les costs to sel

exceded the carying amounts.

The movements in the provision for impairment loses

on reposesed asets are as folows:

二零二四年

HK$’000

千港元

At begining of year于年初1,796

Transfer from provision for

impairment loses on

loan and interest receivables

(note 17)

转拨自应收贷款

及利息的减值

亏损拨备

（附注17）13,148

Provision for/(reversal of)

impairment loses on

reposesed asets, net

抵债资产的

减值亏损拨备╱

（拨回），净额12,411

Write of on disposal出售事项撇销(5,302)

At end of year于年终22,053

2025	二零二五年
Commercial property	商业物业	–	–	9,520	9,520
Residential properties	住宅物业	23,880	–	32,694	56,574
Industrial properties	工业物业	3,880	–	21,754	25,634
Total	合计	27,760	–	63,968	91,728

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

于二零二五年及二零二四年三月三十一

日，本集团收回之相关抵押品的公平价

值以及公平价值层次之资料如下：

20. REPOSESED ASETS (continued)

The fair value of the underlying colateral reposesed by

the Group and information about the fair value hierarchy

as at 31 March 2025 and 2024 are as folows:

Fair value measurement as at 31 March using

于三月三十一日公平价值计量采用

Quoted pricesSignificantSignificant

in activeobservableunobservable

marketsinputsinputs

(Level 1)(Level 2)(Level 3)Total

活跃

市场报价

（第一层次）

重大可

观察输入值

（第二层次）

重大不可

观察输入值

（第三层次）合计

HK$’000HK$’000HK$’000HK$’000

千港元千港元千港元千港元

2024二零二四年

Comercial properties商业物业–17,57017,570

Residential properties住宅物业38,660–28,08066,740

Industrial property工业物业–1,9601,960

Total合计38,660–47,61086,270

2025
二零二五年
HK$’000
千港元
11,424

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

以下为本集团收回之相关抵押品的公平

价值的估值所采用的估值技术及主要输

入值的概要：

21. 按公平价值计入损益的股权投资

由于上述股权投资乃持作买卖，因此分

类为按公平价值计入损益的金融资产。

于二零二五年三月三十一日，本集团为

数11,424,000港元（二零二四年：

15,375,000港元）之按公平值计入损益

的股权投资已作抵押，以取得授予本集

团之银行融资及证券保证金账户融资（附

注29）。

假设本集团的股权投资组合维持不变，

本集团股权投资于本财务报表批准日期

的市场价值约为12,981,000港元。

20. REPOSESED ASETS (continued)

Below is a sumary of the valuation technique used and

the key input to the valuation of the fair values of the

underlying colateral reposesed by the Group:

Valuation techniqueSignificant unobservable input

估值技术重大不可观察输入值

Comercial, residential, and

industrial properties

Direct comparison

aproach method

Market price per square fot

每平方呎市场价格

商业、住宅及工业物业直接比较法

21. EQUITY INVESTMENTS AT FAIR VALUE THROUGH

PROFIT OR LOS

二零二四年

HK$’000

千港元

Listed equity investments,

at fair value

按公平价值的

上市股权投资 15,375

The above equity investments were clasified as financial

asets at fair value through profit or los as they were

held for trading.

At 31 March 2025, the Group’s equity investments at fair

value through profit or los amounting to HK$11,424,000

(2024: HK$15,375,000) were pledged to secure banking

facilities and securities margin acount facilities granted

to the Group (note 29).

Asuming that the portfolio of the Group’s equity

investments remained unchanged, the market value of the

Group’s equity investments at the date of aproval of these

financial statements was aproximately HK$12,981,000.

2025
二零二五年
HK$’000
千港元
30,307
555,905
95,994
682,206

2025
二零二五年
HK$’000
千港元
3,212
6,530
43
9,785
(1,209)
8,576

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

22. 现金及现金等价物

银行现金乃根据每日银行存款利率按浮

动利率计息。短期定期存款之存放时间

介乎七日至六个月不等，视乎本集团之

即时现金需要而定，并按各短期定期存

款利率计息。银行结存及定期存款乃存

放于信誉良好且并无近期拖欠款项纪录

之银行。

、其他应付账款及已收

按金

其他应付账款为不计息及一般须于90

日内结算。

22. CASH AND CASH EQUIVALENTS

二零二四年

HK$’000

千港元

Cash and bank balances现金及银行结存90,846

Non-pledged time deposits with

original maturity of les than

thre months when acquired

购入时原定届满期限

少于三个月之无抵押

定期存款184,424

Non-pledged time deposits with

original maturity of more than

thre months when acquired

购入时原定届满期限

超过三个月之无抵押

定期存款242,981

Cash and cash equivalents现金及现金等价物518,251

Cash at banks earns interest at floating rates based on

daily bank deposit rates. Short-term time deposits are

made for varying periods of betwen seven days and six

months depending on the imediate cash requirements

of the Group, and earn interest at the respective short-

term time deposit rates. The bank balances and time

deposits are deposited with creditworthy banks with no

recent history of default.

23. ACRUALS, OTHER PAYABLES AND DEPOSITS

RECEIVED

二零二四年

HK$’000

千港元

Acruals应计款项3,020

Other payables and deposits received其他应付账款及已收按金9,857

Receipt in advance预收款项168

Total合计13,045

Portion clasified as non-curent liabilities分类为非流动负债的部分(2,620)

Curent portion流动部分10,425

The other payables are non-interest-bearing and are

normaly setled on 90-day terms.

2025
二零二五年
HK$’000
千港元
26,940
(470)
26,470

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

24. 递延税项

递延税项负债及资产于本年度之变动如

下：

递延税项负债

24. DEFERED TAX

The movements in defered tax liabilities and asets

during the year are as folows:

Defered tax liabilities

Acelerated tax

depreciation on

property, plant and

equipment

物业、厂房及设备

的加速税务折旧

二零二四年

HK$’000

千港元

At begining of year于年初26,693

Defered tax charged/(credited) to

profit or los during the year

(note 9)

于本年度在损益内扣除╱

（计入）之递延税项

（附注9）247

Gros defered tax liabilities

at end of year

于年终之递延税项

负债总额26,940

2025
二零二五年
Provision for impairment losses on loan and interest receivables and repossessed assets	Losses available for offsetting against future taxable profits	Total
应收贷款及利息以及抵债资产的减值亏损拨备	可供抵销未来应课税溢利之亏损	合计
HK$’000	HK$’000	HK$’000
千港元	千港元	千港元
(2,951)	(9,140)	(12,091)
(5,615)	(89)	(5,704)
(8,566)	(9,229)	(17,795)

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

递延税项负债及资产于本年度之变动如

下：（续）

递延税项资产

24. DEFERED TAX (continued)

The movements in defered tax liabilities and asets

during the year are as folows: (continued)

Defered tax asets

At begining of year于年初

Defered tax credited to

profit or los during the year

(note 9)

于本年度在损益内

计入之递延税项

（附注9）

Gros defered tax asets

at end of year

于年终之递延税项

资产总额

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

递延税项负债及资产于本年度之变动如

下：（续）

递延税项资产（续）

24. DEFERED TAX (continued)

The movements in defered tax liabilities and asets

during the year are as folows: (continued)

Defered tax asets (continued)

二零二四年

Provision for

impairment

loses on loan

and interest

receivables and

reposesed

asets

Loses

available for

ofseting

against future

taxable profitsTotal

应收贷款及利息

以及抵债资产的

减值亏损拨备

可供抵销

未来应课税

溢利之亏损合计

HK$’000HK$’000HK$’000

千港元千港元千港元

At begining of year于年初(428)(8,473)(8,901)

Defered tax credited to

profit or los during the year

(note 9)

于本年度在损益内

计入之递延税项

（附注9）(2,523)(667)(3,190)

Gros defered tax asets

at end of year

于年终之递延税项

资产总额(2,951)(9,140)(12,091)

2025
二零二五年
HK$’000
千港元
7,534
(16,209)
(8,675)

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

就列报而言，财务状况表内若干递延税

项资产及负债已予抵销。以下为作财务

报告用途之本集团递延税项结余之分析：

本集团于香港产生税项亏损

339,804,000港元（二零二四年：

339,330,000港元），其可无限期用作

抵销录得亏损之公司之未来应课税溢

利。本集团并未就该等税项亏损确认递

延税项资产46,839,000港元（二零二四年：

46,849,000港元），因该等税项亏损乃

来自已亏损一段时间之公司，而且认为

不太可能产生应课税溢利以抵销该等税

项亏损。

24. DEFERED TAX (continued)

For presentation purposes, certain defered tax asets and

liabilities have ben ofset in the statement of financial

position. The folowing is an analysis of the defered tax

balances of the Group for financial reporting purposes:

二零二四年

HK$’000

千港元

Net defered tax asets recognised

in the consolidated statement of

financial position

于综合财务状况表

确认之递延税项

资产净额2,002

Net defered tax liabilities recognised

in the consolidated statement of

financial position

于综合财务状况表

确认之递延税项

负债净额(16,851)

Net defered tax liabilities in respect of

continuing operations

有关持续经营业务的

递延税项负债净额(14,849)

The Group has tax loses arising in Hong Kong of

HK$339,804,000 (2024: HK$339,330,000) that are

available indefinitely for ofseting against future taxable

profits of the companies in which the loses arose.

Defered tax asets of HK$46,839,000 (2024:

HK$46,849,000) have not ben recognised in respect of

tax loses because these tax loses have arisen in

companies that have ben los-making for some time

and it is not considered probable that taxable profits wil

be available against which the tax loses can be utilised.

2025
二零二五年
HK$’000
千港元
100,000
14,451

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

于二零二五年三月三十一日，本集团之

附属公司并无因未汇出盈利而须支付之

税项出现重大未确认之递延税项负债

（二零二四年：无），因倘该等款项汇

出，本集团并无额外税项的责任。

本公司向其股东派付股息并无附有任何

所得税后果。

25. 股本

股份

24. DEFERED TAX (continued)

At 31 March 2025, there was no significant unrecognised

defered tax liability (2024: Nil) for taxes that would be

payable on the unremited earnings of the Group’s

subsidiaries as the Group has no liability to aditional tax

should such amounts be remited.

There are no income tax consequences ataching to the

payment of dividends by the Company to its shareholders.

25. SHARE CAPITAL

二零二四年

HK$’000

千港元

Authorised:法定：

40,000,000,000 (2024: 40,000,000,000)

ordinary shares of HK$0.0025

(2024: HK$0.0025) each

40,000,000,000股（二零二四年：

40,000,000,000股）每股面值

0.0025港元（二零二四年：

0.0025港元）之普通股100,000

Isued and fuly paid:已发行及缴足：

5,780,368,705 (2024: 5,780,368,705)

ordinary shares of HK$0.0025

(2024: HK$0.0025) each

5,780,368,705股（二零二四年：

5,780,368,705股）每股面值

0.0025港元（二零二四年：

0.0025港元）之普通股14,451

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

购股权

本公司购股权计划以及根据该计划而尚

未行使的购股权之详情载于财务报表附

注26内。

26. 购股权计划

于二零一二年九月四日举行之本公司股

东周年大会上，一项普通决议案已通过

以采纳购股权计划（「该计划」）。

该计划之目的乃向为本集团营运成功作

出贡献之合资格参与者给予鼓励及回报。

该计划之详情如下：

(a) 参与者

参与者为本公司任何董事（包括执

行董事、非执行董事及独立非执行

董事）及本集团之雇员及本公司董

事会（「董事会」）按其绝对酌情认

为曾经或将会向本集团作出贡献之

任何顾问（无论是否专业）、咨询

人、分销商、承包商、供应商、代

理人、客户、业务伙伴、合营业务

伙伴、发起人、本集团任何成员公

司之服务供应商。

25. SHARE CAPITAL (continued)

Share options

Details of the Company’s share option scheme and the

share options outstanding under the scheme are included

in note 26 to the financial statements.

26. SHARE OPTION SCHEME

At the anual general meting of the Company held on 4

September 2012, an ordinary resolution was pased for

the adoption of a share option scheme (the “Scheme”).

The Scheme was operated by the Company for the

purpose of providing incentives and rewards to eligible

participants who contribute to the suces of the Group’s

operations.

Details of the Scheme are as folows:

(a) Participants

Participants are any directors (including executive

directors, non-executive directors and independent

non-executive directors) of the Company and

employes of the Group and any advisors

(profesional or otherwise), consultants, distributors,

contractors, supliers, agents, customers, busines

partners, joint venture busines partners, promoters,

service providers of any member of the Group who

the board of directors of the Company (the “Board”)

considers, in its sole discretion, have contributed or

wil contribute to the Group.

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

该计划之详情如下：（续）

(b) 认购价

认购价将由董事会按其绝对酌情厘

定，惟无论如何不得低于下列各项

中的最高者：

(i) 本公司每股面值0.0025港元

之股份（「股份」）在购股权授

出日期（「授出日期」）（必须为

营业日）的收市价（以香港联

交所日报表所载者为准）；

(i) 股份在紧接授出日期前五个

营业日的平均收市价（以香港

联交所日报表所载者为准）；

及

(i) 股份面值。

未经股东批准前，可于所有根据该

计划及本公司任何其他购股权计划

授出的购股权予以行使时发行的股

份上限，合计不得超过于该计划采

纳日期已发行的股份面值总额10%

（「计划授权限额」）。厘定计划授权

限额时，根据该计划及（视情况而

定）本公司有关其他购股权计划的

条款已失效的购股权不予计算。

26. SHARE OPTION SCHEME (continued)

Details of the Scheme are as folows: (continued)

(b) Subscription price

The subscription price shal be determined by the

Board in its absolute discretion but in any event

shal not be les than the highest of:

(i) the closing price of the shares of HK$0.0025

each of the Company (the “Shares”) as stated

in the daily quotations shets isued by the

Hong Kong Stock Exchange on the date of grant

of an option (the “Date of Grant”) which must

be a busines day;

(i) the average closing price of the Shares as

stated in the daily quotations shets isued by

the Hong Kong Stock Exchange for the five

busines days imediately preceding the Date

of Grant; and

(i) the nominal value of the Shares.

The maximum number of the Shares which may be

isued upon exercise of al options to be granted

under the Scheme and any other share option

schemes of the Company shal not, in the absence

of shareholders’ aproval, in agregate exced 10%

in nominal amount of the agregate of the Shares in

isue on the adoption date of the Scheme (the

“Scheme Mandate Limit”). Options lapsed in

acordance with the terms of the Scheme and (as

the case may be) such other share option schemes

of the Company wil not be counted for the purpose

of calculating the Scheme Mandate Limit.

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

该计划之详情如下：（续）

(d) 各参与者获授购股权之上限

各承授人在任何12个月内根据该

计划获授的购股权（包括已行使及

未行使的购股权）予以行使时所发

行及将发行的股份上限，不得（与

于有关期间内根据本公司任何其他

购股权计划授出的购股权有关的任

何股份合计，不包括根据股东在股

东大会上特别批准而授出的该等购

股权）超过当时已发行股份的1%

（「个人限额」）。

(e) 购股权之行使期

购股权可于提呈批授购股权时董事

会知会各承授人之期间内行使，惟

须于授出日期起计10年内届满。

(f) 该计划之尚余有效期

该计划已于二零二年九月三日届

满。其后不得再根据该计划建议授

出其他购股权，但已授出之购股权

仍然有效，除非购股权失效或购股

权期间届满，则作别论。

26. SHARE OPTION SCHEME (continued)

Details of the Scheme are as folows: (continued)

(d) Maximum number of options granted to

each participant

The maximum number of the Shares isued and to

be isued upon exercise of the options granted to

each grante under the Scheme (including both

exercised and outstanding options) in any 12-month

period shal not (when agregated with any Shares

subject to options granted during such period under

any other share option scheme(s) of the Company

other than those options granted pursuant to specific

aproval by the shareholders in a general meting)

exced 1% of the Shares in isue for the time being

(the “Individual Limit”).

(e) Period of exercise of options

An option may be exercised in a period notified by

the Board to each grante at the time of making an

ofer, which shal not expire later than 10 years from

the Date of Grant.

(f) Remaining life of the Scheme

The Scheme expired on 3 September 2022. No

further share options shal thereafter be ofered

under the Scheme but the share options which had

ben granted are stil valid, unles otherwise lapse

of options or upon expiry of the option period.

2025
二零二五年
Weighted
average	Number of
exercise price	share options
加权平均行使价	购股权数目
HK$ per share	’000
每股港元	千
–	–
–	–
–	–

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

该计划之详情如下：（续）

(g) 接受购股权

由授出日期起计28日内，承授人通

过支付合共1港元之象征式代价即

可以接受授予购股权之要约。

购股权并无赋予其持有人获分派股息或

在股东大会投票之权利。

于去年度，有116,200,000份购股权已

失效。总金额5,068,000港元已在购股

权失效时从购股权储备中转拨至保留溢

利。

于本年度，根据该计划而尚未行使之购

股权详情如下：

于报告期末，根据该计划，本公司并无

购股权尚未行使（二零二四年：无）。

26. SHARE OPTION SCHEME (continued)

Details of the Scheme are as folows: (continued)

(g) Aceptance of options

The ofer of a grant of share options may be

acepted within 28 days from the date of grant,

upon payment of a nominal consideration of HK$1

in total by the Grante.

Share options do not confer rights on the holders to

dividends or to vote at general metings.

In the prior year, 116,200,000 share options had lapsed.

An agregate amount of HK$5,068,000 was transfered

from the share option reserve to retained profits upon

lapse of share options.

The outstanding share options under the Scheme during

the year are as folows:

二零二四年

Weighted

averageNumber of

exercise priceshare options

加权平均

行使价购股权数目

HK$ per share’000

每股港元千

At begining of year于年初0.1532116,200

Lapsed during the year于本年度失效0.1532(116,200)

At end of year于年终–

At the end of the reporting period, the Company had no

share options outstanding under the Scheme (2024: Nil).

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

27. 储备

本集团之储备款额及于本年度及过往年

度之储备变动于财务报表第116及117

页之综合权益变动表呈列。

本集团之实缴盈余来自：

(i) 本集团于一九零年六月十三日进

行之重组，为本公司根据本集团重

组所发行股份面值超过本集团所收

购之前控股公司股份面值与股份溢

价总和之部分；及

(i) 根据一九年六月二日进行之股

本重组而自股份溢价账中拨出。

根据百慕达《1981年公司法》（经修订），

在该法例第54条所述之若干情况下，本

集团之实缴盈余可分派予股东。

购股权储备包括已授出并有待行使之购

股权之公平价值，详情于财务报表附注

2.4以股份为基础的付款之会计政策进

一步解释。于去年度，该金额于有关购

股权失效时转拨至保留溢利。

汇兑储备包括折算境外经营业务的财务

报表所产生的所有相关汇兑差额。

27. RESERVES

The amounts of the Group’s reserves and the

movements therein for the curent and prior years are

presented in the consolidated statement of changes in

equity on pages 116 and 117 of the financial statements.

The contributed surplus of the Group arose from:

(i) the Group’s reorganisation on 13 June 1990,

representing the exces of the nominal value of the

Company’s shares isued under the Group’s

reorganisation, over the nominal value of the shares

and share premium of the former holding company

acquired by the Group; and

(i) a transfer from the share premium acount pursuant

to the capital restructuring on 2 June 1999.

Under the Companies Act 1981 of Bermuda (as

amended), the contributed surplus of the Group is

distributable to shareholders in certain circumstances

prescribed by section 54 thereof.

The share option reserve comprises the fair value of

share options granted which are yet to be exercised, as

further explained in the acounting policy for share-based

payments in note 2.4 to the financial statements. In the

prior year, the amount was transfered to retained profits

upon lapse of the related options.

The exchange translation reserve comprises al relevant

exchange diferences arising from the translation of the

financial statements of foreign operations.

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

合并储备为(i)于过往年度进行共同控制

企业合并时记录的资产及负债金额（扣

除所收购实体的任何储备）及(i)就企业

合并支付的代价的公平价值两者之间的

差异。

资产重估储备为由于用途由自用物业更

改为投资物业而进行物业重估所产生的

累积收益及亏损。该等项目于以后期间

将不会重新分类至损益。

公平价值储备为指定为按公平价值计入

其他全面收益的股权投资自其初始计量

以来的后续公平价值变动。除所收取的

股息外，相关的收益及亏损在公平价值

储备内确认。于金融资产终止确认时，

于公平价值储备内的金额会转至保留溢

利。

28. 或然负债

于报告期末，本公司给予银行之担保余

额为70,000,000港元（二零二四年：

70,000,000港元），作为本集团之一间

附属公司所获授一般信贷融资之抵押。

29. 资产抵押

有关为取得本集团银行融资及证券保证

金账户融资而抵押之资产的详情分别载

于财务报表附注13及21内。

27. RESERVES (continued)

The merger reserve represents the diference betwen (i)

the amounts at which the asets and liabilities are

recorded under a busines combination under comon

control in prior years, net of any reserves of the acquired

entities, and (i) the fair value of consideration paid for

the busines combination.

The aset revaluation reserve represents cumulative gains

and loses arising on property revaluation as a result of

the change in use from owner-ocupied properties to

investment properties. Such items wil not be reclasified

to profit or los in subsequent periods.

The fair value reserve represents the subsequent changes

in fair value of the equity investment designated at fair

value through other comprehensive income since its

initial measurement. With the exception of dividends

received, the asociated gains and loses are recognised

in the fair value reserve. Amounts represented in the fair

value reserve are transfered to retained profits upon

derecognition of the financial asets.

28. CONTINGENT LIABILITIES

At the end of the reporting period, the Company had an

outstanding guarante of HK$70,000,000 (2024:

HK$70,000,000) given to a bank to secure a general

credit facility granted to a subsidiary of the Group.

29. PLEDGE OF ASETS

Details of the asets pledged to secure the Group’s

banking facilities and securities margin acount facilities

are included in notes 13 and 21, respectively, to the

financial statements.

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

30. 承诺

于报告期末，本集团并无任何重大承诺。

31. 出售附属公司

附注：于二零二三年四月二十八日之应计

款项及其他应付账款已包括应付本

集团附属公司之非控股东New

Century Cruise Line International

Limited的款项约7,572,000港元。

30. COMITMENTS

At the end of the reporting period, the Group did not

have any significant comitments.

31. DISPOSAL OF A SUBSIDIARY

二零二四年

HK$’000

千港元

Net asets disposed of:出售的资产净额：

Property, plant and equipment物业、厂房及设备66,075

Acruals and other payables (Note)应计款项及其他应付账款（附注）(21,790)

44,285

Exchange translation reserve汇兑储备(9,487)

Disposal expenses incured出售事项产生的费用350

Gain on disposal of a subsidiary

(note 10)

出售附属公司的收益

（附注10）9,834

Total consideration总代价44,982

Satisfied by:支付方式：

Cash现金44,982

Note: Included in the acruals and other payables as at 28

April 2023 was an amount due to a non-controling

shareholder of the Group’s subsidiary, New Century

Cruise Line International Limited, of aproximately

HK$7,572,000.

2025
二零二五年
HK$’000
千港元
135
1,059
529
105

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

有关出售附属公司的现金及现金等价物

的净流入分析如下：

32. 关联方交易

(a) 于本年度，本集团与关联方进行下

列交易：

31. DISPOSAL OF A SUBSIDIARY (continued)

An analysis of the net inflow of cash and cash equivalents

in respect of the disposal of a subsidiary is as folows:

二零二四年

HK$’000

千港元

Cash consideration现金代价44,982

Disposal expenses incured出售事项产生的费用(350)

44,632

32. RELATED PARTY TRANSACTIONS

(a) The Group had the folowing transactions with

related parties during the year:

二零二四年

NotesHK$’000

附注千港元

Salary paid to Mr. Ng (Huang)

Cheow Leng

支付黄昭麟先生之

薪金(i)138

Salary paid to Mr. Wilson Ng支付黄伟成先生之薪金(i)1,091

Salary paid to Mr. Huang Wai Ip支付黄伟业先生之薪金(i)366

Management fe paid to a

related company

支付关联公司之

管理费(i)105

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

(a) 于本年度，本集团与关联方进行下

列交易：（续）

附注：

(i) 薪金乃支付予黄昭麟先生，其为

一个全权信托之授予人及信托人，

而该全权信托持有本公司最终控

股公司Huang Group (BVI) Limited

之全部权益。

(i) 薪金乃支付予黄伟成先生及黄伟

业先生，彼等为一个全权信托之

全权受益人，而该全权信托持有

本公司最终控股公司Huang Group

(BVI) Limited之全部权益。

(i) 管理费按本集团与一间关联公司

Huang & Co (Singapore) Pte. Ltd.

（「Huang & Co」）就所提供行政服

务订立的协议，收取每月管理费

约8,750港元（二零二四年：8,730

港元）。Huang & Co由黄昭麟先生

实益拥有。

(b) 应付中间控股公司款项

于报告期末，本集团应付中间控股

公司款项之未偿付结余为

80,000,000港元（二零二四年：

80,000,000港元）。有关结余乃无

抵押、免息及须应要求偿还。

32. RELATED PARTY TRANSACTIONS (continued)

(a) The Group had the folowing transactions with

related parties during the year: (continued)

Notes:

(i) The salary was paid to Mr. Ng (Huang) Cheow Leng,

who is the setlor and the truste of a discretionary

trust which holds the entire interest in Huang Group

(BVI) Limited, the ultimate holding company of the

Company.

(i) The salaries were paid to Mr. Wilson Ng and Mr.

Huang Wai Ip, who are discretionary beneficiaries of a

discretionary trust which holds the entire interest in

Huang Group (BVI) Limited, the ultimate holding

company of the Company.

(i) The management fe was charged based on an

agrement entered into betwen the Group and a

related company, Huang & Co (Singapore) Pte. Ltd.

(“Huang & Co”), for administrative services provided

at a monthly rate of aproximately HK$8,750 (2024:

HK$8,730). Huang & Co is beneficialy owned by Mr.

Ng (Huang) Cheow Leng.

(b) Due to the intermediate holding company

The Group had an outstanding balance due to the

intermediate holding company of HK$80,000,000

(2024: HK$80,000,000) as at the end of the

reporting period. This balance is unsecured, interest-

fre and repayable on demand.

2025
二零二五年
HK$’000
千港元
–

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

于二零一三年四月一日，本集团一

间附属公司与本集团一间关联公司

Huang & Co订立服务协议，内容有

关为本集团提供行政服务，有关终

止通知期为三个月。于本年度支付

予Huang & Co的管理费在财务报表

附注32(a)(i)内披露。于二零二五年

三月三十一日，本集团应付

Huang & Co的未来最低管理费总额

约26,000港元（二零二四年：

26,000港元）。

(d) 本集团附属公司之非控股东垫付

之贷款

附注：根据本集团与本集团一间附属

公司New Century Maritime

Limited（「NCML」，其于本年度

被剔除注册）之非控股东New

Century Cruise Line International

Limited（「NCL」）订立之股东协

议，除非NCML的全体股东签署

要求还款之书面决议案已于其

股东大会上正式通过，否则

NCL不会要求偿还该项贷款。

该贷款为无抵押、免息及须应

要求偿还。NCL由本公司之最

终控股公司Huang Group (BVI)

Limited实益拥有。于本年度，

NCML之全体股东以书面议决案

方式议决豁免该贷款，其被视

作NCL之出资入账。其后，

NCML已于二零二四年十一月一

日被剔除注册。

32. RELATED PARTY TRANSACTIONS (continued)

On 1 April 2013, a subsidiary of the Group entered

into a service agrement with thre-month

termination notice with Huang & Co, a related

company of the Group, for the provision of

administrative services to the Group. The

management fe paid to Huang & Co for the year is

disclosed in note 32(a)(i) to the financial

statements. As at 31 March 2025, the Group had a

total future minimum management fe payable to

Huang & Co amounting to aproximately HK$26,000

(2024: HK$26,000).

(d) Loan advanced from a non-controling shareholder

of the Group’s subsidiary

二零二四年

HK$’000

千港元

Loan advanced from a

non-controling shareholder of

the Group’s subsidiary (Note)

本集团附属公司之

非控股东

垫付之贷款（附注）24,087

Note: Pursuant to a shareholders’ agrement entered into

betwen the Group and New Century Cruise Line

International Limited (“NCL”), the non-controling

shareholder of New Century Maritime Limited

(“NCML”), a subsidiary of the Group which was

struck of during the year, NCL was not to

demand repayment of this loan unles a resolution

in writing signed by al shareholders of NCML for

the demand of repayment had ben duly pased

at its general meting. The loan was unsecured,

interest-fre and repayable on demand. NCL is

beneficialy owned by Huang Group (BVI) Limited,

the ultimate holding company of the Company.

During the year, al shareholders of NCML resolved

by way of a resolution in writing to waive the loan

which was acounted for as a demed capital

contribution from NCL. Subsequently, NCML was

struck of on 1 November 2024.

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

(e) 本集团主要管理人员之薪酬已于财

务报表附注8(a)内披露。

上述(a)至(d)项之关联方交易亦构成上

市规则第十四A章所界定之关连交易或

持续关连交易。然而，由于该等交易低

于最低豁免水平或根据上市规则获另行

豁免，因此该等交易获豁免遵守公告及

申报规定。

33. 综合现金流量表附注

(a) 主要非现金交易

于本年度，本集团就楼宇租赁安排

分别录得使用权资产及租赁负债之

非现金添置169,000港元（二零

二四年：无）及169,000港元（二零

二四年：无）。

于本年度，本集团附属公司之非控

股东垫付之贷款24,087,000港元

已获本集团附属公司之非控股东

豁免。交易详情于财务报表附注

32(d)内披露。

32. RELATED PARTY TRANSACTIONS (continued)

(e) The compensation of key management personel of

the Group has ben disclosed in note 8(a) to the

financial statements.

The related party transactions in respect of items (a) to

(d) above also constitute conected transactions or

continuing conected transactions as defined in Chapter

14A of the Listing Rules. However, these transactions are

exempt from the anouncement and reporting

requirements as they fal below the de minimis threshold

or otherwise exempted under the Listing Rules.

33. NOTES TO THE CONSOLIDATED STATEMENT OF

CASH FLOWS

(a) Major non-cash transactions

During the year, the Group had non-cash aditions

to right-of-use asets and lease liabilities of

HK$169,000 (2024: Nil) and HK$169,000 (2024:

Nil), respectively, in respect of lease arangements

for building.

During the year, the loan advanced from a non-

controling shareholder of the Group’s subsidiary of

HK$24,087,000 was waived by the non-controling

shareholder of the Group’s subsidiary. Details of the

transaction were disclosed in note 32(d) to the

financial statements.

24,087	80,000	–
(24,087)	–	–
–	–	169
–	–	(13)
–	–	2
–	–	(2)
–	80,000	156

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

(b) 因融资活动产生的负债变动

33. NOTES TO THE CONSOLIDATED STATEMENT OF

CASH FLOWS (continued)

(b) Changes in liabilities arising from financing

activities

Loan advanced

from a

non-controling

shareholder

of the Group’s

subsidiary

Amount

due to the

intermediate

holding

company

Lease

liabilities

本集团

附属公司之

非控股东

垫付之贷款

应付中间

控股公司款项租赁负债

HK$’000HK$’000HK$’000

千港元千港元千港元

At 1 April 2023于二零二三年四月一日71,82380,00072

Changes from financing

cash flows

融资现金流量产生

的变动(47,736)–(72)

Interest expense利息开支–1

Interest paid clasified as

operating cash flows

分类为经营现金流量的

已付利息–(1)

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

Demed capital contribution from

a non-controling shareholder

of the Group’s subsidiary

被视作本集团附属公司

非控股东之

出资入账

New lease新租赁

Changes from financing

cash flows

融资现金流量产生

的变动

Interest expense利息开支

Interest paid clasified as

operating cash flows

分类为经营现金流量的

已付利息

At 31 March 2025于二零二五年三月三十一日

2025
二零二五年
HK$’000
千港元
560
13
573

2025
二零二五年
40
–
–
–

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

34. 具有重大非控股权益的部分拥

有之附属公司

有重大非控股权益的本集团附属公司的

详情载列如下：

33. NOTES TO THE CONSOLIDATED STATEMENT OF

CASH FLOWS (continued)

二零二四年

HK$’000

千港元

Within operating activities经营活动内505

Within financing activities融资活动内72

Total合计577

34. PARTLY-OWNED SUBSIDIARIES WITH MATERIAL

NON-CONTROLING INTERESTS

Details of the Group’s subsidiaries that have material

non-controling interests are set out below:

二零二四年

Percentage of equity interest held by

non-controling interests:

非控股权益持有的

股本权益百分比：

ETC Finance Limited易提款财务有限公司40

Kingston Maritime LimitedKingston Maritime Limited–

New Century Maritime Limited

Century Rich Investments Limited

2025
二零二五年
HK$’000
千港元
9,638
–
(2)
–
373,772
–
–
–
–

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

34. 具有重大非控股权益的部分拥

有之附属公司（续）

有重大非控股权益的本集团附属公司的

详情载列如下：（续）

* 于二零二三年四月二十八日出售前由

非控股权益持有40%股本权益

于二零二四年十一月一日被剔除注册

于二零二四年五月一日被剔除注册

34. PARTLY-OWNED SUBSIDIARIES WITH MATERIAL

NON-CONTROLING INTERESTS (continued)

Details of the Group’s subsidiaries that have material

non-controling interests are set out below: (continued)

二零二四年

HK$’000

千港元

Profit/(los) for the year alocated

to non-controling interests:

分配予非控股权益的

本年度溢利╱（亏损）：

ETC Finance Limited易提款财务有限公司8,508

Kingston Maritime LimitedKingston Maritime Limited(212)

New Century Maritime Limited

3,989

Century Rich Investments Limited

Acumulated balances of

non-controling interests

at the reporting date:

于报告日期

非控股权益的

累计结余：

ETC Finance Limited易提款财务有限公司364,134

Kingston Maritime LimitedKingston Maritime Limited–

New Century Maritime Limited

(24,085)

Century Rich Investments Limited

–

Dividend paid to a non-controling

interest:

支付予一项非控股权益

的股息：

Century Rich Investments Limited

15,450

% of equity interest was held by a non-controling

interest before disposal on 28 April 2023

Struck of on 1 November 2024

Struck of on 1 May 2024

	New	Century
ETC	Century	Rich
Finance	Maritime	Investments
Limited	Limited	Limited
易提款财务有限公司
HK$’000	HK$’000	HK$’000
千港元	千港元	千港元
79,868	–	–
(54,604)	(4)	–
25,264	(4)	–
25,264	(4)	–
1,043,909	–	–
95,729	–	–
(206,832)	–	–
164,163	–	–
92,000	–	–
(583)	–	–
255,580	–	–

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

34. 具有重大非控股权益的部分拥

有之附属公司（续）

下表显示上述附属公司（不包括一项已

终止经营业务的附属公司）的财务概要

资料。所披露者为未计任何公司间抵销

前的金额：

34. PARTLY-OWNED SUBSIDIARIES WITH MATERIAL

NON-CONTROLING INTERESTS (continued)

The folowing tables ilustrate the sumarised financial

information of the above subsidiaries, excluding the

subsidiary under a discontinued operation. The amounts

are disclosed before any inter-company eliminations:

二零二五年

Revenue and other income收入及其他收入

Total expenses开支总额

Profit/(los) for the year本年度溢利╱（亏损）

Total comprehensive income/(los)

for the year

本年度全面收益╱

（亏损）总额

Curent asets流动资产

Non-curent asets非流动资产

Curent liabilities流动负债

Net cash flows from

operating activities

经营活动所得

之现金流量净额

Net cash flows from

investing activities

投资活动所得

之现金流量净额

Net cash flows used in

financing activities

融资活动所用之

现金流量净额

Net increase in cash and

cash equivalents

现金及现金等价物之

增加净额

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

34. 具有重大非控股权益的部分拥

有之附属公司（续）

下表显示上述附属公司（不包括一项已

终止经营业务的附属公司）的财务概要

资料。所披露者为未计任何公司间抵销

前的金额：（续）

34. PARTLY-OWNED SUBSIDIARIES WITH MATERIAL

NON-CONTROLING INTERESTS (continued)

The folowing tables ilustrate the sumarised financial

information of the above subsidiaries, excluding the

subsidiary under a discontinued operation. The amounts

are disclosed before any inter-company eliminations:

(continued)

二零二四年

NewCentury

ETCenturyRich

FinanceMaritimeInvestments

LimitedLimitedLimited

易提款财务

有限公司

HK$’000HK$’000HK$’000

千港元千港元千港元

Revenue and other income收入及其他收入80,35638,976740

Total expenses开支总额(57,600)(143,434)(9)

Profit/(los) for the year本年度溢利╱（亏损）22,756(104,458)(731)

Total comprehensive income/(los)

for the year

本年度全面收益╱

（亏损）总额22,756(104,458)(731)

Curent asets流动资产1,012,4974–

Non-curent asets非流动资产102,193–

Curent liabilities流动负债(207,052)(60,216)–

Non-curent liabilities非流动负债(96)–

Net cash flows from/(used in)

operating activities

经营活动所得╱（所用）

之现金流量净额95,02534,909(34,265)

Net cash flows from/(used in)

investing activities

投资活动所得╱（所用）

之现金流量净额(28)83,608–

Net cash flows used in

financing activities

融资活动所用

之现金流量净额(553)(119,340)(38,626)

Net increase/(decrease) in

cash and cash equivalents

现金及现金等价物之

增加╱（减少）净额94,444(823)(72,891)

Financial asset
Financial assets	Financial	at fair value
at fair value	assets at	through other
through	amortised	comprehensive
profit or loss	cost	income	Total
按公平价值计入损益的金融资产	以摊销成本计量的金融资产	按公平价值计入其他全面收益的金融资产	合计
HK$’000	HK$’000	HK$’000	HK$’000
千港元	千港元	千港元	千港元
–	–	3,434	3,434
–	577,338	–	577,338
–	88,249	–	88,249
–	1,057	–	1,057
–	13,583	–	13,583
–	8,281	–	8,281
11,424	–	–	11,424
–	682,206	–	682,206
11,424	1,370,714	3,434	1,385,572

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

35. 按类别划分之金融工具

于报告期末，各类金融工具之账面金额

如下：

35. FINANCIAL INSTRUMENTS BY CATEGORY

The carying amounts of each of the categories of

financial instruments as at the end of the reporting period

are as folows:

二零二五年

Financial asets

金融资产

Equity investment designated

at fair value through other

comprehensive income

指定为按公平价值

计入其他全面

收益的股权投资

Loan and interest receivables应收贷款及利息

Reposesed asets抵债资产

Lease receivables应收租赁款

Amounts due from security brokers应收证券经纪商的款项

Deposits and other receivables

(note 16)

按金及其他应收账款

（附注16）

Equity investments at fair value

through profit or los

按公平价值计入

损益的股权投资

Cash and cash equivalents现金及现金等价物

Total合计

Financial liabilities
at amortised cost
以摊销成本计量的金融负债
HK$’000
千港元
2,249
6,530
80,000
156
88,935

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

于报告期末，各类金融工具之账面金额

如下：（续）

35. FINANCIAL INSTRUMENTS BY CATEGORY

(continued)

The carying amounts of each of the categories of

financial instruments as at the end of the reporting period

are as folows: (continued)

二零二五年

Financial liabilities

金融负债

Acruals应计款项

Other payables and deposits received

(note 23)

其他应付账款及已收按金

（附注23）

Amount due to the intermediate

holding company

应付中间控股

公司款项

Lease liabilities租赁负债

Total合计

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

于报告期末，各类金融工具之账面金额

如下：（续）

35. FINANCIAL INSTRUMENTS BY CATEGORY

(continued)

The carying amounts of each of the categories of

financial instruments as at the end of the reporting period

are as folows: (continued)

二零二四年

Financial asets

金融资产

Financial aset

Financial asetsFinancialat fair value

at fair valueasets athrough other

throughamortisedcomprehensive

profit or loscostincomeTotal

按公平价值

计入损益的

金融资产

以摊销成本

计量的

金融资产

按公平价值计入

其他全面收益的

金融资产合计

HK$’000HK$’000HK$’000HK$’000

千港元千港元千港元千港元

Equity investment designated

at fair value through other

comprehensive income

指定为按公平价值

计入其他全面

收益的股权投资–3,3473,347

Loan and interest receivables应收贷款及利息–724,516–724,516

Reposesed asets抵债资产–80,982–80,982

Lease receivables应收租赁款–1,242–1,242

Amounts due from security brokers应收证券经纪商的款项–9,341–9,341

Deposits and other receivables

(note 16)

按金及其他应收账款

（附注16）–7,244–7,244

Equity investments at fair value

through profit or los

按公平价值计入

损益的股权投资15,375–15,375

Cash and cash equivalents现金及现金等价物–518,251–518,251

Total合计15,3751,341,5763,3471,360,298

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

于报告期末，各类金融工具之账面金额

如下：（续）

35. FINANCIAL INSTRUMENTS BY CATEGORY

(continued)

The carying amounts of each of the categories of

financial instruments as at the end of the reporting period

are as folows: (continued)

二零二四年

Financial liabilities

金融负债

Financial liabilities

at amortised cost

以摊销成本

计量的

金融负债

HK$’000

千港元

Acruals应计款项2,054

Other payables and deposits received

(note 23)

其他应付账款及已收按金

（附注23）9,857

Amount due to the intermediate

holding company

应付中间控股

公司款项80,000

Loan advanced from a non-controling

shareholder of the Group’s subsidiary

本集团附属公司之非控股东

垫付之贷款24,087

Total合计115,998

2025
二零二五年
HK$’000
千港元
11,424
3,434
14,858

2025
二零二五年
HK$’000
千港元
11,424
3,434
14,858

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

36. 金融工具的公平价值及公平价

值层次

除账面金额与公平价值合理接近者外，

本集团金融工具的账面金额及公平价值

如下：

管理层已经评估，现金及现金等价物、

应收贷款及利息、抵债资产、应收租赁

款、应收证券经纪商的款项、包括在预

付款项、按金及其他应收账款的金融资

产、包括在其他应付账款及应计款项的

金融负债、应付中间控股公司款项、本

集团附属公司之非控股东垫付之贷

款、租赁负债以及非流动已收按金的公

平价值大致上与其账面金额相若，因此

并无列报该等项目的公平价值披露。

36. FAIR VALUE AND FAIR VALUE HIERARCHY OF

FINANCIAL INSTRUMENTS

The carying amounts and fair values of the Group’s

financial instruments, other than those with carying

amounts that reasonably aproximate to fair values, are

as folows:

Carying amountsFair values

账面金额公平价值

二零二四年二零二四年

HK$’000HK$’000

千港元千港元

Financial asets金融资产

Equity investments at fair value

through profit or los

按公平价值计入

损益的股权投资15,37515,375

Equity investment designated

at fair value through other

comprehensive income

指定为按公平价值计入

其他全面收益的

股权投资3,3473,347

Total合计18,72218,722

Management has asesed that the fair values of cash

and cash equivalents, loan and interest receivables,

reposesed asets, lease receivables, amounts due from

security brokers, financial asets included in prepayments,

deposits and other receivables, financial liabilities

included in other payables and acruals, an amount due

to the intermediate holding company, a loan advanced

from a non-controling shareholder of the Group’s

subsidiary, lease liabilities and the non-curent deposits

received aproximate to their carying amounts and

acordingly no disclosure of the fair values of these items

is presented.

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

36. 金融工具的公平价值及公平价

值层次（续）

本集团管理层负责厘定金融工具公平价

值计量之政策及程序。于各报告日期，

本集团管理层会分析金融工具价值之变

动并厘定估值所用之主要输入值。独立

专业估值师亦会在适当时参与估值。估

值由本集团管理层审阅及批准。估值过

程及结果会每年两次于中期及年度财务

报告时与审核委员会讨论。

金融资产及负债的公平价值包括在自愿

交易方之间的当前交易中交换工具的金

额而不是强迫或清盘出售。下列方法及

假设乃用以估计公平价值：

上市股权投资的公平价值以市场报价为

基础。

36. FAIR VALUE AND FAIR VALUE HIERARCHY OF

FINANCIAL INSTRUMENTS (continued)

The Group’s management is responsible for determining

the policies and procedures for the fair value

measurement of financial instruments. At each reporting

date, the Group’s management analyses the movements

in the values of financial instruments and determines the

major inputs aplied in the valuation. Independent

profesional valuers are engaged for the valuation as

apropriate. The valuation is reviewed and aproved by

the Group’s management. The valuation proces and

results are discused with the audit comite twice a

year for interim and anual financial reporting.

The fair values of the financial asets and liabilities are

included at the amount at which the instrument could be

exchanged in a curent transaction betwen wiling

parties, other than in a forced or liquidation sale. The

folowing methods and asumptions were used to

estimate the fair values:

The fair values of listed equity investments are based on

quoted market prices.

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

36. FAIR VALUE AND FAIR VALUE HIERARCHY OF

FINANCIAL INSTRUMENTS (continued)

The fair value of the unlisted equity investment

designated at fair value through other comprehensive

income has ben estimated using a discounted cash flow

(“DCF”) model. The valuation requires management to

make certain asumptions about the model inputs,

including forecast cash flows, the discount rate, credit

rate and volatility. The probabilities of the various

estimates within the range can be reasonably asesed

and are used in management’s estimate of the fair value.

The directors believe that the estimated fair values

resulting from the valuation technique, which were

recorded in the consolidated statement of financial

position, and the related changes in fair values, which

were recorded in other comprehensive income, were

reasonable, and that they were the most apropriate

values at the end of the reporting period. For the fair

value of the unlisted equity investment designated at fair

value through other comprehensive income, management

has estimated the potential efect of using reasonably

posible alternatives as inputs to the valuation model.

36. 金融工具的公平价值及公平价

值层次（续）

指定为按公平价值计入其他全面收益的

非上市股权投资的公平价值已使用折现

现金流量（「折现金流量」）模式估计。

估值要求管理层就模式输入值作出若干

假设，包括预测现金流量、折现率、信

贷率及波动性。在范围内的不同估计的

概率可以合理评估，并用于管理层对公

平价值的估计。

董事相信，估值技术产生的估计公平价

值（其会记录于综合财务状况表内）及

相关公平价值变动（其会记录于其他全

面收益内）属合理，且彼等为于报告期

末最适合的数值。有关指定为按公平价

值计入其他全面收益的非上市股权投资

的公平价值，管理层已估计以合理可能

的替代项目用作估值模式的输入值的潜

在影响。

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

36. 金融工具的公平价值及公平价

值层次（续）

以下为于二零二五年及二零二四年三月

三十一日有关金融工具估值的重大不可

观察输入值的概要以及定量敏感度分析：

36. FAIR VALUE AND FAIR VALUE HIERARCHY OF

FINANCIAL INSTRUMENTS (continued)

Below is a sumary of significant unobservable inputs to

the valuation of financial instruments together with a

quantitative sensitivity analysis as at 31 March 2025 and

2024:

Valuation

technique

Significant

unobservable inputRangeSensitivity of fair value to the input

估值技术重大不可观察输入值范围公平价值对输入值的敏感度

Unlisted

equity investment

非上市股权投资

DCF method

折现金

流量法

Long term growth

rate for cash flows

for subsequent years

后续年度的长期现金

流量增长率

2025: 3.0%

(2024: 3.0%)

二零二五年：3.0%

（二零二四年：3.0%）

5% increase/decrease in growth rate would result

in an increase/decrease in fair value by

HK$13,000 (2024: HK$12,000)/

HK$12,000 (2024: HK$12,000)

增长率增加╱减少5%会导致公平价值增加

13,000港元（二零二四年：12,000港元）╱

减少12,000港元（二零二四年：12,000港元）

Weighted average cost

of capital (“WAC”)

加权平均资本成本

（「加权平均资本

成本」）

2025:15.2%

(2024:16.0%)

二零二五年：15.2%

（二零二四年：16.0%）

5% increase/decrease in WAC would result

in a decrease/increase in fair value by

HK$107,000 (2024: HK$112,000)/

HK$121,000 (2024: HK$127,000)

加权平均资本成本增加╱减少5%会导致

公平价值减少107,000港元（二零二四年：

112,000港元）╱增加121,000港元

（二零二四年：127,000港元）

Discount for lack of

marketability

(“DLOM”)

缺乏市场流通性折扣

（「缺乏市场流通性

折扣」）

2025: 15.6%

(2024: 15.7%)

二零二五年：15.6%

（二零二四年：15.7%）

5% increase/decrease in DLOM would result

in a decrease/increase in fair value by

HK$31,000 (2024: HK$31,000)/

HK$32,000 (2024: HK$31,000)

缺乏市场流通性折扣增加╱减少5%会导致

公平价值减少31,000港元（二零二四年：

31,000港元）╱增加32,000港元

（二零二四年：31,000港元）

Discount for lack of

control (“DLOC”)

缺乏控制权折扣

（「缺乏控制权

折扣」）

2025: 17.5%

(2024: 17.4%)

二零二五年：17.5%

（二零二四年：17.4%）

5% increase/decrease in DLOC would result

in a decrease/increase in fair value by

HK$36,000 (2024: HK$35,000)/

HK$37,000 (2024: HK$35,000)

缺乏控制权折扣增加╱减少5%会导致

公平价值减少36,000港元（二零二四年：

35,000港元）╱增加37,000港元

（二零二四年：35,000港元）

As at 31 March 2025	于二零二五年三月三十一日
Equity investments at fair value through profit or loss	按公平价值计入损益的股权投资	11,424	–	–	11,424
Equity investment designated at fair value through other comprehensive income	指定为按公平价值计入其他全面收益的股权投资	–	–	3,434	3,434
Total	合计	11,424	–	3,434	14,858

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

36. 金融工具的公平价值及公平价

值层次（续）

缺乏市场流通性折扣及缺乏控制权折扣

为本集团所厘定市场参与者在为投资定

价时会考虑的溢价及折让金额。

公平价值层次

下表显示本集团金融工具的公平价值计

量层次：

按公平价值计量的资产：

36. FAIR VALUE AND FAIR VALUE HIERARCHY OF

FINANCIAL INSTRUMENTS (continued)

DLOM and DLOC represent the amounts of premiums

and discounts determined by the Group that market

participants would take into acount when pricing the

investments.

Fair value hierarchy

The folowing tables ilustrate the fair value measurement

hierarchy of the Group’s financial instruments:

Asets measured at fair value:

Fair value measurement using

公平价值计量采用

Quoted pricesSignificantSignificant

in activeobservableunobservable

marketsinputsinputs

(Level 1)(Level 2)(Level 3)Total

活跃

市场报价

（第一层次）

重大可

观察输入值

（第二层次）

重大不可

观察输入值

（第三层次）合计

HK$’000HK$’000HK$’000HK$’000

千港元千港元千港元千港元

As at 31 March 2024于二零二四年三月三十一日

Equity investments at fair value

through profit or los

按公平价值计入

损益的股权投资15,375–15,375

Equity investment designated

at fair value through other

comprehensive income

指定为按公平价值

计入其他全面收益

的股权投资–3,3473,347

Total合计15,375–3,34718,722

2025
二零二五年
HK$’000
千港元
3,347
87
3,434

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

36. 金融工具的公平价值及公平价

值层次（续）

公平价值层次（续）

于本年度，第三层次内公平价值计量的

变动如下：

于二零二五年及二零二四年三月三十一

日，本集团并无任何按公平价值计量的

金融负债。

于本年度，金融资产概无在第一层次及

第二层次之间转换及概无在第三层次转

入或转出公平价值计量（二零二四年：

无）。

36. FAIR VALUE AND FAIR VALUE HIERARCHY OF

FINANCIAL INSTRUMENTS (continued)

Fair value hierarchy (continued)

The movements in fair value measurement within Level 3

during the year are as folows:

二零二四年

HK$’000

千港元

Equity investment designated

at fair value through other

comprehensive income

指定为按公平价值计入

其他全面收益的

股权投资

At begining of year于年初2,985

Total fair value gain recognised in

other comprehensive income

在其他全面收益内确认

的公平价值收益总额362

At end of year于年终3,347

The Group did not have any financial liabilities measured

at fair value as at 31 March 2025 and 2024.

During the year, there were no transfers of fair value

measurements betwen Level 1 and Level 2 and no

transfers into or out of Level 3 for financial asets (2024:

Nil).

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

37. 财务风险管理目标及政策

本集团之主要金融工具包括现金及短期

存款。此等金融工具之主要目的乃为本

集团营运集资。本集团有各种其他金融

资产及负债，例如应收租赁款、应收证

券经纪商的款项、应收贷款及利息及其

他应付账款，其皆直接从其营运中产生。

本集团金融工具产生之主要风险为外汇

风险、信贷风险、流动资金风险及股权

价格风险。董事会审阅并赞同管理各项

风险之政策，该等风险概述如下。

外汇风险

本集团面对交易货币风险。该等风险乃

因为经营单位以单位功能货币以外之货

币进行买卖而产生。本集团之大部分收

入及成本乃以新加坡元及港元为结算单

位。本集团目前并无外汇对冲政策。然

而，管理层会密切监察外汇风险，并将

于有需要时考虑对冲重大外汇风险。

37. FINANCIAL RISK MANAGEMENT OBJECTIVES AND

POLICIES

The Group’s principal financial instruments comprise cash

and short-term deposits. The main purpose of these

financial instruments is to raise finance for the Group’s

operations. The Group has various other financial asets

and liabilities such as lease receivables, amounts due

from security brokers, loan and interest receivables and

other payables, which arise directly from its operations.

The main risks arising from the Group’s financial

instruments are foreign curency risk, credit risk, liquidity

risk and equity price risk. The Board reviews and agres

policies for managing each of these risks and they are

sumarised below.

Foreign curency risk

The Group has transactional curency exposures. These

exposures arise from sales or purchases by operating

units in curencies other than the units’ functional

curencies. Most of the Group’s revenue and costs were

denominated in Singapore dolars and Hong Kong dolars.

The Group curently does not have a foreign curency

hedging policy. However, management closely monitors

foreign exchange exposure and wil consider hedging

significant foreign curency exposure should the ned

arise.

2025	二零二五年
If the Hong Kong dollar weakens against the Singapore dollar	倘港元兑新加坡元贬值	10	2
If the Hong Kong dollar strengthens against the Singapore dollar	倘港元兑新加坡元升值	(10)	(2)

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

外汇风险（续）

下表展示于报告期末其他变数保持不

变，而新加坡元汇率可能出现合理波动

之情况下，本集团除税后溢利╱（亏损）

（因以新加坡元为结算单位的金融工具

而产生）及保留溢利（因货币资产及负

债公平价值出现变动）对波动的敏感度。

37. FINANCIAL RISK MANAGEMENT OBJECTIVES AND

POLICIES (continued)

Foreign curency risk (continued)

The folowing table demonstrates the sensitivity at the

end of the reporting period to a reasonably posible

change in the Singapore dolar exchange rate, with al

other variables held constant, of the Group’s profit/(los)

after tax (arising from Singapore dolar denominated

financial instruments) and retained profits (due to

changes in the fair value of monetary asets and

liabilities).

Increase/

(decrease)

in los

Increase/after tax and

(decrease)decrease/

in foreign(increase) in

curency rateretained profits

外币汇率

增加╱（减少）

除税后亏损

增加╱（减少）

及保留溢利

减少╱（增加）

%HK$’000

千港元

Decrease/

(increase)

in profit

Increase/after tax and

(decrease)decrease/

in foreign(increase) in

curency rateretained profits

外币汇率

增加╱（减少）

除税后溢利

减少╱（增加）

及保留溢利

减少╱（增加）

%HK$’000

千港元

2024二零二四年

If the Hong Kong dolar weakens

against the Singapore dolar

倘港元兑

新加坡元贬值102

If the Hong Kong dolar strengthens

against the Singapore dolar

倘港元兑

新加坡元升值(10)(2)

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

信贷风险

于二零二五年三月三十一日，本集团的

信贷风险主要来自应收租赁款、应收证

券经纪商的款项、应收贷款及利息、抵

债资产以及现金及现金等价物。

本集团只向认可而信誉可靠之第三方提

供服务。本集团之政策为希望按信贷期

进行买卖之所有客户均须进行信贷核实

程序。此外，应收账款结余乃按持续基

准监管，而本集团之坏账风险并不重大。

本集团之其中一项主要产生收入活动是

向客户放债，因此，信贷风险为一项主

要风险。本集团之政策为所有新贷款须

通过严格的信贷审查程序。此外，应收

账款结余乃按持续基准监管。

本集团在接纳或拒绝各客户的贷款申请

之前，均会管理及分析各客户的信贷风

险。倘若并无进行独立评级，则根据风

险管理程序，会考虑客户的财务状况、

过往经验及其他因素以评估其信贷质

素。本集团就其提供的若干应收贷款及

利息而持有抵押品（以位于香港的个别

物业的第一法定按揭的形式）作保障，

此等抵押品主要包括住宅物业、商业物

业、工业物业及泊车位。每当物业市场

出现不利状况，本集团会根据其预先批

准的信贷政策，在加强严格管理措施配

合之下，批准及向其客户提供贷款。本

集团设有不同等级的贷款委员会（成员

包括董事及高级管理层），以批准及授

予不同的贷款与估值比率及所需的不同

贷款金额的贷款产品。

37. FINANCIAL RISK MANAGEMENT OBJECTIVES AND

POLICIES (continued)

Credit risk

As at 31 March 2025, the credit risk of the Group was

primarily atributable to lease receivables, amounts due

from security brokers, loan and interest receivables,

reposesed asets and cash and cash equivalents.

The Group provides services only to recognised and

creditworthy third parties. It is the Group’s policy that al

customers who wish to trade on credit terms are subject

to credit verification procedures. In adition, receivable

balances are monitored on an ongoing basis and the

Group’s exposure to bad debts is not significant.

One of the Group’s main income generating activities is

lending money to customers, and therefore, credit risk is

a principal risk. It is the Group’s policy that al new loans

are subject to stringent credit check procedures. In

adition, receivable balances are monitored on an

ongoing basis.

The Group manages and analyses the credit risk for each

of its customers before the loan aplications are acepted

or rejected. If there is no independent rating, risk control

aseses the credit quality of the customer by taking into

acount the financial position, past experience and other

factors of the customer. The Group holds colateral

against certain loan and interest receivables in the form

of first legal mortgages over individual properties located

in Hong Kong which mainly comprise residential,

comercial, industrial properties and car parking spaces.

The Group aproves and grants loans to its customers

pursuant to its pre-aproved credit policy with tightened

management measures whenever an adverse condition

in the property market ocurs. The Group has loan

comites of diferent levels comprising directors and

senior management to aprove and grant diferent loan

products with various loan-to-value ratios and loan

amount requirements.

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

信贷风险（续）

董事及高级管理层认为，根据独立第三

方估值师于各报告期末估值的物业市

值，应收贷款及利息产生的信贷风险已

经以本集团所持有（作为抵押品）的物

业而大幅降低。

减值评估

预期信用损失计量

本集团根据香港财务报告准则第9号的

预期信用损失模式计量损失拨备。预期

信用损失的计量是根据违约概率、违约

损失率（即损失在发生违约时的大小）

及违约风险敞口计量。违约概率及违约

风险敞口的评估以历史数据为基础，并

就前瞻性信息作出调整。预期信用损失

的估计反映了无偏概率加权金额，其以

发生违约的各自相关风险为权重确定。

预期信用损失是基于根据合约应付本集

团的所有合约现金流量与本集团预期收

到的现金流量两者之间的差额，其以初

始确认时确定的实际利率折现。

37. FINANCIAL RISK MANAGEMENT OBJECTIVES AND

POLICIES (continued)

Credit risk (continued)

The directors and senior management consider that the

credit risk arising from the loan and interest receivables is

significantly mitigated by the properties held as colateral,

with reference to the market values of the properties

which are valued by independent third party valuers as at

the end of each reporting period.

Impairment asesment

ECL measurement

The Group measures los alowance under HKFRS 9 ECL

model. The measurement of ECLs is a function of the

probability of default, los given default (i.e., the

magnitude of the los if there is a default) and exposure

at default. The asesment of the probability of default

and the exposure at default is based on historical data

adjusted by forward-loking information. Estimation of

ECLs reflects an unbiased and probability-weighted

amount that is determined with the respective risks of

default ocuring as the weights.

ECLs are based on the diference betwen al contractual

cash flows that are due to the Group in acordance with

the contract and the cash flows that the Group expects to

receive, discounted at the efective interest rate

determined at initial recognition.

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

信贷风险（续）

减值评估（续）

预期信用损失计量（续）

本集团根据三种概率加权的情境计算预

期信用损失，以计量预期现金短缺，并

以接近实际利率折现。现金短缺为根据

合约应支付予实体的现金流量与实体预

期收到的现金流量两者之间的差异。

下文概述预期信用损失的计算机制，其

主要元素如下：

违约概率（「违约概率」）为在特定时间

范围内违约的可能性的估计。

违约风险敞口（「违约风险敞口」）是对

未来违约日期的风险的估计，当中考虑

到于报告日期后风险的预期变化，包括

本金及利息的偿还，以及欠缴款项的累

计利息。

违约损失率（「违约损失率」）为在特定

时间发生违约的情况下所导致损失的估

计。它基于到期的合约现金流量与贷款

人预期会收到的现金流量之间的差异，

包括变现任何对贷款不可或缺的抵押品

或信用增强，而不是单独确认。

37. FINANCIAL RISK MANAGEMENT OBJECTIVES AND

POLICIES (continued)

Credit risk (continued)

Impairment asesment (continued)

ECL measurement (continued)

The Group calculates ECLs based on a thre probability-

weighted scenarios to measure the expected cash

shortfals, discounted at an aproximation to the efective

interest rate. A cash shortfal is the diference betwen

the cash flows that are due to an entity in acordance

with the contract and the cash flows that the entity

expects to receive.

The mechanics of the ECL calculations are outlined below

and the key elements are as folows:

The probability of default (“PD”) is an estimate of the

likelihod of default over a given time horizon.

The exposure at default (“EAD”) is an estimate of

exposure at a future default date, taking into acount

expected changes in the exposure after the reporting

date, including repayments of principal and interest, and

acrued interest from mised payments.

The los given default (“LGD”) is an estimate of the los

arising in the case where a default ocurs at a given time.

It is based on the diference betwen the contractual

cash flows due and those that the lender would expect to

receive, including from the realisation of any colateral or

credit enhancements that are integral to the loan and not

required to be recognised separately.

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

信贷风险（续）

减值评估（续）

预期信用损失计量（续）

在估计预期信用损失时，本集团考虑三

种情境（基本情况、牛市情况及熊市情

况）。每种情况均与不同的违约概率、

违约风险敞口及违约损失率相联。在相

关时，对多种情境的评估亦包含预期如

何收回违约贷款，包括收回贷款的概率

以及抵押品的价值或出售有关资产可能

收到的金额。

被视为会计判断及估计的预期信用损失

模式的元素包括：

(i) 本集团对个别组别违约概率的估计；

(i) 本集团有关评估信贷风险是否已显

著增加以致金融资产拨备应按整个

存续期预期信用损失基础计量的准

则以及定性评估；

(i) 制订预期信用损失模式，包括各条

公式和输入值的选择，以根据信贷

风险的行为周期、违约损失率及就

信贷风险收回抵押品的情况，厘定

实体面临信贷风险的期间；

37. FINANCIAL RISK MANAGEMENT OBJECTIVES AND

POLICIES (continued)

Credit risk (continued)

Impairment asesment (continued)

ECL measurement (continued)

When estimating the ECLs, the Group considers thre

scenarios (a base case, a bul case and a bear case).

Each of these is asociated with diferent PDs, EADs and

LGDs. When relevant, the asesment of multiple

scenarios also incorporates how defaulted loans are

expected to be recovered, including the probability that

the loans wil cure and the value of colateral or the

amount that might be received for seling the aset.

Elements of the ECL models that are considered

acounting judgements and estimates include:

(i) The Group’s estimation of probabilities of default to

individual group;

(i) The Group’s criteria for asesing if there has ben a

significant increase in credit risk and so alowances

for financial asets should be measured on a lifetime

ECL basis and the qualitative asesment;

(i) Development of ECL models, including the various

formulas and the choice of inputs over

determination of the period over which the entity is

exposed to credit risk based on the behavioural life

of the credit exposure, los given default and

colateral recovery of the credit exposures;

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

信贷风险（续）

减值评估（续）

预期信用损失计量（续）

(iv) 厘定宏观经济情境与经济输入值（例

如拖欠比率及抵押品价值）之间的

关联，以及对违约概率、违约风险

敞口及违约损失率的影响；及

(v) 选择前瞻性宏观经济情境及其概率

权重，以得出放入预期信用损失模

式的经济输入值。

本集团的政策为定期根据实际损失经验

检视其模式，并于有需要时作出调整。

本集团根据预期信用损失模式下的3个

不同阶段将其应收贷款及利息的信贷质

素进行分类：

在以下情况下，金融资产会归类于第一

阶段：

(i) 按时还款；

(i) 在正常信贷期内（30日内）逾期且

有可依据的还款证据（例如：通讯

记录、文件草稿╱已签署的文件），

惟须进行个别分析而定；

(i) 债务人的信用评级（市场或内部）

没有改变；及

37. FINANCIAL RISK MANAGEMENT OBJECTIVES AND

POLICIES (continued)

Credit risk (continued)

Impairment asesment (continued)

ECL measurement (continued)

(iv) Determination of asociations betwen macroeconomic

scenarios and economic inputs, such as delinquency

ratios and colateral values, and the efect on

probabilities of default, exposures at default and

loses given default; and

(v) Selection of forward-loking macroeconomic

scenarios and their probability weightings, to derive

the economic inputs into the ECL models.

It has ben the Group’s policy to regularly review its

models in the context of actual los experience and

adjust when necesary.

The Group categories the credit quality of its loan and

interest receivables acording to 3 diferent stages under

the ECL model:

Financial asets are clasified as Stage 1 if:

(i) Repayment on schedule;

(i) Overdue within normal credit term (within 30 days)

with suportable evidence for repayment (e.g.,

comunication records, draft/signed documents),

subject to individual analysis;

(i) No change in debtor’s credit rating (market or

internal); and

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

信贷风险（续）

减值评估（续）

预期信用损失计量（续）

(iv) 在市场上并无观察到或预期有与债

务人有关的重大信贷风险及事件（包

括经济及相关行业两者）。

在以下情况下，金融资产会归类于第二

阶段：

(i) 延迟还款；

(i) 逾期超过30日（但不超过90日），

且有可依据的还款证据（例如：通

讯记录、文件草稿╱已签署的文

件），惟须进行个别分析而定；

(i) 债务人的信用评级（市场或内部）

有改变；及

(iv) 在市场上观察到或预期有与债务人

有关的若干信贷风险及事件（包括

经济及相关行业两者）。

在以下情况下，金融资产会归类于第三

阶段：

(i) 延迟还款；

(i) 逾期超过90日，且没有可依据的还

款证据，惟须进行个别分析而定；

(i) 债务人的信用评级（市场或内部）

有重大改变；及

37. FINANCIAL RISK MANAGEMENT OBJECTIVES AND

POLICIES (continued)

Credit risk (continued)

Impairment asesment (continued)

ECL measurement (continued)

(iv) Significant credit risks and events (both economic

and industry-related) related to the debtor are not

observable or expected in the market.

Financial asets are clasified as Stage 2 if:

(i) Delayed repayment;

(i) Overdue over 30 days but within 90 days, with

suportable evidence for repayment (e.g., comunication

records, draft/signed documents), subject to individual

analysis;

(i) There is a change in debtor’s credit rating (market or

internal); and

(iv) Some credit risks and events (both economic and

industry-related) related to the debtor are

observable or expected in the market.

Financial asets are clasified as Stage 3 if:

(i) Delayed repayment;

(i) Overdue over 90 days, without suportable evidence

for repayment, subject to individual analysis;

(i) There is a significant change in debtor’s credit rating

(market or internal); and

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

信贷风险（续）

减值评估（续）

预期信用损失计量（续）

(iv) 在市场上观察到或预期有与债务人

有关的重大信贷风险及事件（包括

经济及相关行业两者）。

信贷风险显著增加

本集团推定，如果合约付款逾期超过30

日，则信贷风险自初始确认后已显著增

加，除非本集团有合理且有依据的信息

显示并非如此，则作别论。

本集团会监察须符合减值要求的所有金

融资产，以评估信贷风险自初始确认后

是否已显著增加。如果信贷风险已显著

增加，本集团会根据整个存续期预期信

用损失而非12个月预期信用损失计量

损失拨备。

本集团会收集有关其信贷风险敞口的表

现及违约资料，并使用统计模式分析收

集到的所有数据，以及估计风险敞口的

剩余存续期违约概率及其预期会如何随

时间而变化。在此过程中考虑的因素包

括宏观经济数据，例如住房按揭拖欠率

以及住宅物业价格指数。本集团生成相

关经济变量的未来方向的基本情况情

境，以及一系列具代表性的其他可能预

测情境。本集团其后使用该等概率加权

预测调整其对违约概率的估计。

37. FINANCIAL RISK MANAGEMENT OBJECTIVES AND

POLICIES (continued)

Credit risk (continued)

Impairment asesment (continued)

ECL measurement (continued)

(iv) Significant credit risks and events (both economic

and industry-related) related to the debtor are

observable or expected in the market.

Significant increase in credit risk

The Group presumes that the credit risk has increased

significantly since initial recognition when contractual

payments are more than 30 days past due, unles the

Group has reasonable and suportable information that

demonstrates otherwise.

The Group monitors al financial asets that are subject to

impairment requirements to ases whether there has

ben a significant increase in credit risk since initial

recognition. If there has ben a significant increase in

credit risk, the Group wil measure the los alowance

based on lifetime rather than 12-month ECLs.

The Group colects performance and default information

about its credit risk exposures and analyses al data

colected using statistical model and estimates the

remaining lifetime PD of exposures and how these are

expected to change over time. The factors taken into

acount in this proces include macroeconomic data such

as delinquency rate on residential mortgage and

residential property price index. The Group generates a

base case scenario of the future direction of relevant

economic variables as wel as a representative range of

other posible forecast scenarios. The Group then uses

these forecasts, which are probability-weighted, to adjust

its estimates of PDs.

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

信贷风险（续）

信贷风险显著增加（续）

本集团已制订监察程序，以确保用于识

别信贷风险显著增加的准则是有效，即

在风险相关的项目最后违约或资产逾期

30日前可识别信贷风险显著增加。

本集团已制订控制措施及程序，以识别

资产的信贷风险何时改善以及不再符合

信贷风险显著增加的定义。在此情况

下，资产可能会由第二阶段移回第一阶

段，惟须视乎是否准时付款以及借款人

准时作出未来付款的能力而定。

违约及信用减值

就内部信贷风险管理而言，当内部形成

或从外部来源取得的信息显示债务人不

大可能全数支付其债权人（包括本集团）

（不考虑本集团所持有的任何抵押品），

本集团会视为已发生违约事件。

就上述情况而言，如果金融资产逾期超

过90日，则本集团会视为已发生违约，

除非本集团有合理且有依据的信息显示

更宽松的违约准则更为合适，则作别

论。具体而言，在确定发生违约的风险

时，会考虑以下定性指标：

(i) 借款人很可能破产；及

(i) 债务人身故。

37. FINANCIAL RISK MANAGEMENT OBJECTIVES AND

POLICIES (continued)

Credit risk (continued)

Significant increase in credit risk (continued)

The Group has monitoring procedures in place to make

sure that the criteria used to identify significant increases

in credit risk are efective, meaning that significant

increase in credit risk is identified before the exposure is

defaulted or when the aset becomes 30 days past due.

The Group has controls and procedures in place to

identify when the credit risk of an aset improves and the

definition of significant increase in credit risk is no longer

met. When this is the case, the aset may move back to

Stage 1 from Stage 2, subject to payments being up to

date and the ability of the borower to make future

payments on time.

Default and credit-impaired

For internal credit risk management, the Group considers

an event of default ocurs when information developed

internaly or obtained from external sources indicates that

the debtor is unlikely to pay its creditors, including the

Group, in ful (without taking into acount any colateral

held by the Group).

In respective of the above, the Group considers that

default has ocured when a financial aset is more than

90 days past due unles the Group has reasonable and

suportable information to demonstrate that a more

laging default criterion is more apropriate. In particular,

the folowing qualitative indicators are taken into acount

in determining the risk of default ocuring:

(i) Probable bankruptcy entered by the borowers; and

(i) Death of the debtor.

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

信贷风险（续）

纳入前瞻性信息

本集团使用无须付出不必要的额外成本

或努力即可获得的前瞻性信息去评估信

贷风险是否已显著增加以及计量预期信

用损失。本集团使用内部及外部信息去

生成相关经济变量的未来预测的基本情

况情境，以及一系列具代表性的其他可

能预测情境。使用的外部信息包括由政

府机构及货币当局公布的经济数据及预

测。

本集团使用多种情境去模拟宏观经济因

素假设对预期信用损失的非线性影响。

本集团将概率应用于所识别的预测情境。

于二零二五年三月三十一日，将前瞻性

信息及概率应用于就评估预期信用损失

所识别的预测情境时，本集团已考虑有

关整体经济环境变化的潜在影响。

最高风险以及于年终的阶段分类

下表显示于三月三十一日根据本集团的

信贷政策确定的信贷质素及最高信贷风

险，其主要以逾期资料为基础（除非其

他资料无须付出不必要的成本或努力即

可获得，则作别论），以及于年终的阶

段分类。

所列报的金额为金融资产的账面总金额。

37. FINANCIAL RISK MANAGEMENT OBJECTIVES AND

POLICIES (continued)

Credit risk (continued)

Incorporation of forward-loking information

The Group uses forward-loking information that is

available without undue cost or efort in its asesment

of significant increase of credit risk as wel as in its

measurement of ECLs. The Group uses internal and

external information to generate a base case scenario of

future forecast of relevant economic variables along with

a representative range of other posible forecast

scenarios. The external information used includes

economic data and forecasts published by governmental

bodies and monetary authorities.

The Group uses multiple scenarios to model the

non-linear impact of asumptions about macroeconomic

factors on ECLs. The Group aplies probabilities to the

forecast scenarios identified.

In aplying the forward-loking information and

probabilities to the forecast scenario identified for

asesing the ECLs as at 31 March 2025, the Group has

taken into acount the posible impacts asociated with

the overal change in economic environment.

Maximum exposure and year-end staging

The tables below show the credit quality and the

maximum exposure to credit risk based on the Group’s

credit policy, which is mainly based on past due

information unles other information is available without

undue cost or efort, and year-end staging clasification

as at 31 March.

The amounts presented are gros carying amounts for

financial asets.

12-month ECLs	Lifetime ECLs
12个月预期信用损失	整个存续期预期信用损失
Stage 1	Stage 2	Stage 3	Simplified approach	Total
第一阶段	第二阶段	第三阶段	简化方法	合计
HK$’000	HK$’000	HK$’000	HK$’000	HK$’000
千港元	千港元	千港元	千港元	千港元
–	–	–	1,057	1,057
13,583	–	–	–	13,583
437,242	34,239	120,534	–	592,015
–	–	134,463	–	134,463
3,466	119	4,696	–	8,281
682,206	–	–	–	682,206
1,136,497	34,358	259,693	1,057	1,431,605

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

信贷风险（续）

最高风险以及于年终的阶段分类

（续）

37. FINANCIAL RISK MANAGEMENT OBJECTIVES AND

POLICIES (continued)

Credit risk (continued)

Maximum exposure and year-end staging

(continued)

As at 31 March 2025

于二零二五年三月三十一日

Lease receivables应收租赁款

Amounts due from security

brokers

应收证券经纪商的

款项

Loan and interest receivables应收贷款及利息

Reposesed asets抵债资产

Financial asets included in

prepayments, deposits and

other receivables

包括在预付款项、按金

及其他应收账款

的金融资产

– Normal－正常

Cash and cash equivalents现金及现金等价物

– Not yet past due－未逾期

Total合计

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

信贷风险（续）

最高风险以及于年终的阶段分类

（续）

、按金及其他应收款

项之金融资产在尚未逾期且并无资料

表明金融资产的信贷风险自初始确认

后已显著上升，其信贷质素会被视为

「正常」。否则，金融资产的信贷质素

会被视为「存疑」。

37. FINANCIAL RISK MANAGEMENT OBJECTIVES AND

POLICIES (continued)

Credit risk (continued)

Maximum exposure and year-end staging

(continued)

As at 31 March 2024

于二零二四年三月三十一日

12-month

ECLsLifetime ECLs

12个月预期

信用损失整个存续期预期信用损失

Stage 1Stage 2Stage 3

Simplified

aproachTotal

第一阶段第二阶段第三阶段简化方法合计

HK$’000HK$’000HK$’000HK$’000HK$’000

千港元千港元千港元千港元千港元

Lease receivables应收租赁款–1,2421,242

Amounts due from security

brokers

应收证券经纪商的

款项9,341–9,341

Loan and interest receivables应收贷款及利息595,96349,74495,787–741,494

Reposesed asets抵债资产–103,035–103,035

Financial asets included in

prepayments, deposits and

other receivables

包括在预付款项、按金

及其他应收账款

的金融资产

– Normal－正常3,9493232,972–7,244

Cash and cash equivalents现金及现金等价物

– Not yet past due－未逾期518,251–518,251

Total合计1,127,50450,067201,7941,2421,380,607

* The credit quality of the financial asets included in

prepayments, deposits and other receivables is considered

to be “normal” when they are not past due and there is no

information indicating that the financial asets had a

significant increase in credit risk since initial recognition.

Otherwise, the credit quality of the financial asets is

considered to be “doubtful”.

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

信贷风险（续）

最高风险以及于年终的阶段分类

（续）

信贷集中风险乃按客户╱交易对方、经

营地区及行业界别进行管理。由于本集

团的应收租赁款以及应收贷款及利息的

客户基础广泛分布，因此，本集团并无

重大信贷集中风险的情况。

本集团源自其他应收账款、应收贷款及

利息、应收租赁款、应收证券经纪商的

款项以及抵债资产之信贷风险之详细数

据披露于财务报表附注16、17、18、

19及20内。

流动资金风险

本集团以循环流动计划工具监察其资金

短缺风险。该工具考虑金融工具及金融

资产（例如：应收租赁款、应收证券经

纪商的款项、应收贷款及利息以及抵债

资产）两者的到期日及预测经营业务之

现金流量。

37. FINANCIAL RISK MANAGEMENT OBJECTIVES AND

POLICIES (continued)

Credit risk (continued)

Maximum exposure and year-end staging

(continued)

Concentrations of credit risk are managed by customer/

counterparty, by geographical region and by industry

sector. There are no significant concentrations of credit

risk within the Group as the customer bases of the

Group’s lease receivables and loan and interest

receivables are widely dispersed.

Further quantitative data in respect of the Group’s

exposure to credit risk arising from other receivables, loan

and interest receivables, lease receivables, amounts due

from security brokers and reposesed asets are

disclosed in notes 16, 17, 18, 19 and 20 to the financial

statements.

Liquidity risk

The Group monitors its risk to a shortage of funds using

a recuring liquidity planing tol. This tol considers the

maturity of both its financial instruments and financial

asets (e.g., lease receivables, amounts due from security

brokers, loan and interest receivables and reposesed

asets) and projected cash flows from operations.

	Less than	3 to less than	1 to 5
On demand	3 months	12 months	years	Total
应要求偿还	少于三个月	三个月至少于十二个月	一至五年	合计
HK$’000	HK$’000	HK$’000	HK$’000	HK$’000
千港元	千港元	千港元	千港元	千港元
80,000	–	–	–	80,000
–	22	68	75	165
–	2,249	–	–	2,249
351	2,919	2,051	1,209	6,530
80,351	5,190	2,119	1,284	88,944

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

流动资金风险（续）

根据已订约未折现账款，以下载列本集

团于报告期末之金融负债到期日：

37. FINANCIAL RISK MANAGEMENT OBJECTIVES AND

POLICIES (continued)

Liquidity risk (continued)

The maturity profile of the Group’s financial liabilities as

at the end of the reporting period, based on the

contractual undiscounted payments, is as folows:

二零二五年

Amount due to the intermediate

holding company

应付中间控股公司

款项

Lease liabilities租赁负债

Acruals应计款项

Other payables and deposits

received

其他应付账款及

已收按金

Total合计

二零二四年

Les than3 to les than1 to 5

On demand3 months12 monthsyearsTotal

应要求

偿还

少于

三个月

至少于

十二个月一至五年合计

HK$’000HK$’000HK$’000HK$’000HK$’000

千港元千港元千港元千港元千港元

Amount due to the intermediate

holding company

应付中间控股公司

款项80,000–80,000

Loan advanced from a

non-controling shareholder

of the Group’s subsidiary

本集团附属公司之

非控股东

垫付之贷款24,087–24,087

Acruals应计款项–2,054–2,054

Other payables and deposits

received

其他应付账款及

已收按金3175,8631,0572,6209,857

Total合计104,4047,9171,0572,620115,998

31 March	High/low
2025	2025
二零二五年	高╱低
三月三十一日	二零二五年
23,119	24,874/
23,119	16,044

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

股权价格风险

股权价格风险是指股权指数水平及个别

证券价值变动而导致的权益证券公平价

值下跌的风险。于二零二五年三月

三十一日，本集团所面对的股权价格风

险源自分类为按公平价值计入损益的股

权投资的个别股权投资（附注21）。本集

团的股权投资于香港联交所上市，并于

报告期末按市场所报价格计算。

于报告期末的最近交易日营业时间结束

时，香港联交所的市场股票指数（下调

为整数），以及于本年度其各自的最高

及最低点如下：

下表展示在所有其他变数保持不变下以

及已计及对税项的任何影响前，根据股

权投资于报告期末之账面金额，对本集

团股权投资之公平价值每出现10%变动

之敏感度。

37. FINANCIAL RISK MANAGEMENT OBJECTIVES AND

POLICIES (continued)

Equity price risk

Equity price risk is the risk that the fair values of equity

securities decrease as a result of changes in the levels of

equity indices and the value of individual securities. The

Group was exposed to equity price risk arising from

individual equity investments clasified as equity

investments at fair value through profit or los (note 21)

as at 31 March 2025. The Group’s equity investments

were listed on the Hong Kong Stock Exchange and were

valued at quoted market prices at the end of the

reporting period.

The market equity index (rounded down) for the Hong

Kong Stock Exchange, at the close of busines of the

nearest trading day in the year to the end of the reporting

period, and its respective highest and lowest points

during the year were as folows:

31 MarchHigh/low

二零二四年高╱低

三月三十一日二零二四年

Hang Seng Index恒生指数16,54120,865/

16,04414,794

The folowing table demonstrates the sensitivity to every

10% change in the fair values of the equity investments

of the Group, with al other variables held constant and

after any impact on tax, based on their carying amounts

at the end of the reporting period.

2025	二零二五年
Equity investments listed in Hong Kong	于香港上市的股权投资	11,424	10	954
Equity investments listed in Hong Kong	于香港上市的股权投资	11,424	(10)	(954)

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

股权价格风险（续）

资本管理

本集团资本管理之主要目标为确保本集

团持续经营的能力及维持稳健资本比率

以支持其业务并提高股东价值。

37. FINANCIAL RISK MANAGEMENT OBJECTIVES AND

POLICIES (continued)

Equity price risk (continued)

Carying

amount of

equity

investments

Increase/

(decrease)

in fair value

Decrease/

(increase)

in los

after tax and

increase/

(decrease) in

retained profits

股权投资

的账面金额

公平价值

增加╱（减少）

除税后亏损

减少╱（增加）

及保留溢利

增加╱（减少）

HK$’000%HK$’000

千港元千港元

Carying

amount of

equity

investments

Increase/

(decrease)

in fair value

Increase/

(decrease)

in profit

after tax and

increase/

(decrease) in

retained profits

股权投资

的账面金额

公平价值

增加╱（减少）

除税后溢利

增加╱（减少）

及保留溢利

增加╱（减少）

HK$’000%HK$’000

千港元千港元

2024二零二四年

Equity investments listed in

Hong Kong

于香港上市的

股权投资15,375101,284

(10)(1,284)

Capital management

The primary objectives of the Group’s capital

management are to safeguard the Group’s ability to

continue as a going concern and to maintain healthy

capital ratios in order to suport its busineses and

maximise the shareholders’ value.

2025
二零二五年
HK$’000
千港元
–
80,000
156
80,156
1,505,939
5.3%

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

资本管理（续）

本集团根据经济条件以及相关资产风险

特征之变化管理资本结构并加以调整。

为维持或调整资本结构，本集团可调整

对股东之派息、向股东退回资本或发行

新股。本集团不受外部实施之任何资本

规定限制。截至二零二五年及二零二四年

三月三十一日止年度，有关管理资本的

目标、政策或流程并无出现变动。

本集团利用资本与负债比率来监控资

本，资本与负债比率为总债务除以本公

司拥有人应占权益。本集团之政策为将

资本与负债比率维持50%以下。总债务

指本集团附属公司之非控股东垫付之

贷款、应付中间控股公司款项以及租赁

负债。于二零二五年三月三十一日及

二零二四年三月三十一日之资本与负债

比率如下：

37. FINANCIAL RISK MANAGEMENT OBJECTIVES AND

POLICIES (continued)

Capital management (continued)

The Group manages its capital structure and makes

adjustments to it in light of changes in economic

conditions and the risk characteristics of the underlying

asets. To maintain or adjust the capital structure, the

Group may adjust the dividend payment to shareholders,

return capital to shareholders or isue new shares. The

Group is not subject to any externaly imposed capital

requirements. No changes were made in the objectives,

policies or proceses for managing capital during the

years ended 31 March 2025 and 2024.

The Group monitors capital using a gearing ratio, which is

total indebtednes divided by equity atributable to

owners of the Company. The Group’s policy is to

maintain the gearing ratio below 50%. Total

indebtednes represents a loan advanced from a non-

controling shareholder of the Group’s subsidiary, an

amount due to the intermediate holding company and

lease liabilities. The gearing ratios as at 31 March 2025

and 31 March 2024 were as folows:

二零二四年

HK$’000

千港元

Loan advanced from a non-controling

shareholder of the Group’s subsidiary

本集团附属公司之

非控股东垫付之贷款24,087

Amount due to the intermediate holding

company

应付中间控股公司

款项80,000

Lease liabilities租赁负债–

104,087

Equity atributable to owners of the

Company

本公司拥有人应占

权益1,561,876

Gearing ratio资本与负债比率6.7%

（续）

股权价格风险（续）

资本管理

本集团资本管理之主要目标为确保本集

团持续经营的能力及维持稳健资本比率

以支持其业务并提高股东价值。

2025
二零二五年
HK$’000
千港元
325
1,089,427
3,434
1,093,186
13,582
2,315
11,424
222,695
250,016
83
2,446
646,154
648,683
(398,667)
73
694,446
14,451
679,995
694,446

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

38. 本公司的财务状况表

有关本公司于报告期末的财务状况表的

资料如下：

38. STATEMENT OF FINANCIAL POSITION OF THE

COMPANY

Information about the statement of financial position of

the Company at the end of the reporting period is as

folows:

二零二四年

HK$’000

千港元

NON-CURENT ASETS非流动资产

Property, plant and equipment物业、厂房及设备2,051

Investments in subsidiaries于附属公司之投资1,090,245

Equity investment designated

at fair value through other

comprehensive income

指定为按公平价值

计入其他全面收益

的股权投资3,347

Total non-curent asets非流动资产总额1,095,643

CURENT ASETS流动资产

Amounts due from security brokers应收证券经纪商的款项9,341

Prepayments, deposits and

other receivables

预付款项、按金及

其他应收账款1,970

Equity investments at fair value

through profit or los

按公平价值计入

损益的股权投资15,375

Cash and cash equivalents现金及现金等价物224,218

Total curent asets流动资产总额250,904

CURENT LIABILITIES流动负债

Lease liabilities租赁负债1,866

Other payables and acruals其他应付账款及应计款项2,583

Due to subsidiaries应付附属公司款项646,670

Total curent liabilities流动负债总额651,119

NET CURENT LIABILITIES流动负债净额(400,215)

NON-CURENT LIABILITY非流动负债

Lease liabilities租赁负债–

Net asets资产净额695,428

EQUITY权益

Isued capital已发行股本14,451

Reserves (Note)储备（附注）680,977

Total equity权益总额695,428

354,993	–	162,587	2,567	160,830	680,977
–	–	–	87	(1,069)	(982)
354,993	–	162,587	2,654	159,761	679,995

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

附注：

本公司储备之概要如下：

本公司之实缴盈余来自：

(i) 附注27(i)所述之重组为本公司根据本

集团重组所发行股份面值超过所收购

附属公司当时之综合资产净额之部分；

及

(i) 根据一九年六月二日进行之股本

重组而自股份溢价账中拨出。

38. STATEMENT OF FINANCIAL POSITION OF THE

COMPANY (continued)

Note:

A sumary of the Company’s reserves is as folows:

ShareShare

premiumoptionContributedFair valueRetained

acountreservesurplusreserveprofitsTotal

股份

溢价账

购股权

储备

实缴

盈余

公平价值

储备

保留

溢利合计

HK$’000HK$’000HK$’000HK$’000HK$’000HK$’000

千港元千港元千港元千港元千港元千港元

At 1 April 2023于二零二三年

四月一日354,9935,068162,5872,205163,853688,706

Total comprehensive income/

(los) for the year

本年度全面收益╱

（亏损）总额–362(8,091)(7,729)

Transfer of share option reserve

upon lapse of share options

(note 26)

于购股权失效时

转拨购股权储备

（附注26）–(5,068)–5,068–

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

Total comprehensive income/

(los) for the year

本年度全面收益╱

（亏损）总额

At 31 March 2025于二零二五年

三月三十一日

The contributed surplus of the Company arose from:

(i) the reorganisation mentioned in note 27(i), representing

the exces of the nominal value of the Company’s shares

isued under the Group’s reorganisation and the then

consolidated net asets value of the acquired subsidiaries;

and

(i) a transfer from the share premium acount pursuant to the

capital restructuring on 2 June 1999.

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

NOTES TO FINANCIAL STATEMENTS

财务报表附注

31 March 2025

二零二五年三月三十一日

（续）

附注：（续）

根据百慕达《1981年公司法》（经修订），在

该法例第54条所述之若干情况下，本公司之

实缴盈余可分派予股东。

购股权储备包括已授出、有待行使之购股权

之公平价值，详情于财务报表附注2.4以股

份为基础的付款之会计政策进一步解释。于

去年度，该金额于有关购股权失效时转拨至

保留溢利。

39. 比较资料

若干比较财务资料已重新分类以符合本

年度之呈列方式。

40. 财务报表之批准

财务报表已于二零二五年六月二十六日

获董事会批准及授权刊发。

38. STATEMENT OF FINANCIAL POSITION OF THE

COMPANY (continued)

Note: (continued)

Under the Companies Act 1981 of Bermuda (as amended), the

contributed surplus of the Company is distributable to

shareholders in certain circumstances prescribed by section 54

thereof.

The share option reserve comprises the fair value of share

options granted which are yet to be exercised, as further

explained in the acounting policy for share-based payments in

note 2.4 to the financial statements. In the prior year, the

amount was transfered to retained profits upon lapse of the

related options.

39. COMPARATIVE INFORMATION

Certain comparative financial information has ben

reclasified in order to conform with the curent year’s

presentation.

40. APROVAL OF THE FINANCIAL STATEMENTS

The financial statements were aproved and authorised

for isue by the board of directors on 26 June 2025.

2025
二零二五年
HK$’000
千港元
90,263
(46,023)
–
(55,659)

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

FIVE YEAR FINANCIAL SUMARY

五年财务概要

本集团过去五个财政年度节录自已刊发的经

审核财务报表的业绩、资产、负债和非控股

权益的概要如下。

业绩

附注：截至二零二年三月三十一日及二零二一

年三月三十一日止年度的财务资料已经重

列，以反映截至二零二三年及二零二四年

三月三十一日止年度之一项已终止经营业

务的影响。

A sumary of the results and of the asets, liabilities and non-

controling interests of the Group for the last five financial

years, as extracted from the published audited financial

statements, is set out below.

RESULTS

Year ended 31 March

截至三月三十一日止年度

二零二四年二零二三年二零二年二零二一年

HK$’000HK$’000HK$’000HK$’000

千港元千港元千港元千港元

(Restated)(Restated)

（经重列）（经重列）

(Note)(Note)

（附注）（附注）

REVENUE FROM CONTINUING

OPERATIONS

持续经营业务产生

的收入88,29180,06880,741100,360

PROFIT/(LOS) FOR THE YEAR

FROM CONTINUING

OPERATIONS

本年度持续经营

业务产生的

溢利╱（亏损）25,68816,85549,61432,390

PROFIT/(LOS) FOR THE YEAR

FROM A DISCONTINUED

OPERATION

本年度一项已终止

经营业务产生的

溢利╱（亏损）9,303(60,743)(56,449)(112,325)

PROFIT/(LOS) FOR THE YEAR

ATRIBUTABLE TO OWNERS

OF THE COMPANY

本公司拥有人

应占本年度

溢利╱（亏损）22,413(36,866)(1,501)(56,712)

Note: The financial information for the years ended 31 March 2022

and 31 March 2021 has ben restated to reflect the efect of

a discontinued operation during the years ended 31 March

2023 and 2024.

2025
二零二五年
HK$’000
千港元
1,989,179
(109,468)
(373,772)
1,505,939

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

FIVE YEAR FINANCIAL SUMARY

五年财务概要

本集团过去五个财政年度节录自已刊发的经

审核财务报表的业绩、资产、负债和非控股

权益的概要如下。（续）

资产、负债及非控股权益

A sumary of the results and of the asets, liabilities and non-

controling interests of the Group for the last five financial

years, as extracted from the published audited financial

statements, is set out below. (continued)

ASETS, LIABILITIES AND NON-CONTROLING

INTERESTS

At 31 March

于三月三十一日

二零二四年二零二三年二零二年二零二一年

HK$’000HK$’000HK$’000HK$’000

千港元千港元千港元千港元

TOTAL ASETS资产总额2,036,1872,081,3742,071,0362,130,282

TOTAL LIABILITIES负债总额(134,262)(201,900)(153,282)(164,390)

NON-CONTROLING INTERESTS非控股权益(340,049)(331,327)(338,050)(383,351)

1,561,8761,548,1471,579,7041,582,541

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

PARTICULARS OF PROPERTIES

物业详情

31 March 2025

二零二五年三月三十一日

INVESTMENT PROPERTIES

DescriptionUseNature

Percentage of

interest

概况用途形式

占权益之

百分比

Shop No. 23A,

Ground Flor (Level 2),

Kwai Chung Plaza,

7-11 Kwai Fo Road,

Kwai Chung, New Teritories,

Hong Kong

香港新界葵涌葵富路7-11号

葵涌广场地下（第二层）23A号舖

Comercial

商业

Medium-term

leasehold

中期租赁

Ground Flor including its cockloft,

Chi Fu Building,

No. 301 Portland Stret,

Mongkok, Kowlon,

Hong Kong

香港九龙旺角砵兰街301号

置富楼地下（包括其阁楼）

Comercial

商业

Medium-term

leasehold

中期租赁

Shop 5, Ground Flor,

Dundas Square,

No. 43H Dundas Stret,

Mongkok, Kowlon,

Hong Kong

香港九龙旺角登打士街43H号

登打士广场地下5号舖

Comercial

商业

Medium-term

leasehold

中期租赁

投资物业

New Century Group Hong Kong Limited ．新世纪集团香港有限公司

Anual Report 2025 年报

PARTICULARS OF PROPERTIES

物业详情

31 March 2025

二零二五年三月三十一日

DescriptionUseNature

Percentage of

interest

概况用途形式

占权益之

百分比

Shop 3, Ground Flor,

Dundas Square,

No. 43H Dundas Stret,

Mongkok, Kowlon,

Hong Kong

香港九龙旺角登打士街43H号

登打士广场地下3号舖

Comercial

商业

Medium-term

leasehold

中期租赁

762/764/766/768

North Bridge Road,

Singapore 198730/198732/

198734/198736

Comercial

商业

Frehold

永久业权

15th Flor, Katherine House,

Nos. 53-55 Chatham Road South,

Tsim Sha Tsui, Kowlon,

Hong Kong

香港九龙尖沙咀漆咸道南53至55号

嘉芙中心15楼

Comercial

商业

Medium-term

leasehold

中期租赁

INVESTMENT PROPERTIES (continued)投资物业（续）

年报

ANUAL REPORT

年

报

新

世

纪

集

团

香

港

有

限

公

司

2025
二零二五年
Number of
resigned/
retired	Turnover
employees	rate
辞职╱ 退休雇员人数	流失比率
	(Note)
	（附注）
0	0%
2	6%
0	0%
1	3%
1	3%
2	6%
0	0%

2025
二零二五年
90.3
(46.0)
–
(55.7)
1,505.9
(0.96)

2025
二零二五年
2.00
0.05
0.15
7.31
75.32
2.58

2025
二零二五年
3,098.80
1,032.93
163,334.00
148.34
1.53
0.05

2025
二零二五年
Average training hours
平均受训时数
6
7
6
10
2

年报

ANUAL REPORT

目录

Contents

Note: The financial information for the years ended 31 March 2022

Board comprises eleven members as folows:

1. Four out of the eleven directors are independent non-

2. The Nomination Comite wil ases the independence

3. A director (including independent non-executive director)

4. The directors (including independent non-executive

5. Al directors are encouraged to expres their views at

6. The chairman of the Board holds meting with the

Comite are as folows:

1. The secretary of the Nomination Comite shal cal a

2. For filing a casual vacancy, the Nomination Comite

3. In order to provide information of the candidates

4. The shareholder of the Company may also propose a

5. The Board shal have the final decision on al maters

1. The Board wil from time to time review the Nomination

2. The Company shal disclose this nomination policy in its

Code:

第571章《证券及期货条例》（「证券及期货条

Telephone: (852) 2530 1668

Fax: (852) 2530 1233

Email: info@ncgrp.com.hk

Notes:

1. Scope 1 refers to the direct emisions from vehicles that

2. Scope 2 refers to the indirect emisions resulting from the

3. The emision factors used are based on the requirements

2030. To achieve the target, we have initiated the

第608章《最低工资条例》，并无发现有

Note: Turnover rate refers to total number of resigned/retired

Notes:

1. As at 31 March 2025, the total number of isued shares of the

Notes:

1. As at 31 March 2025, the total number of isued shares of the

2. Huang Group (BVI) Limited is the ultimate holding company

3. Huang Group (BVI) Limited is held by Mr. Ng (Huang)

2. Huang Group (BVI) Limited为New Century

3. Huang Group (BVI) Limited由黄昭麟先生以

Notes: (continued)

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