01172 融太集团 财务报表/环境、社会及管治资料：二零二五年年报
Corporate Information
公司资料
Financial Highlights
财务摘要
Directors’ Statement
董事述言
Management Discusion and Analysis
管理层讨论与分析
Biographical Details of Directors and Senior Management
董事及高层管理人员之履历详情
Corporate Governance Report
企业管治报告
Environmental, Social and Governance Report
环境、社会及管治报告
Report of the Directors
董事会报告
Independent Auditor’s Report
独立核数师报告
Consolidated Income Statement
综合收益表
Consolidated Statement of Comprehensive Income
综合全面收益表
Consolidated Statement of Financial Position
综合财务状况表
Consolidated Statement of Changes in Equity
综合权益变动表
Consolidated Statement of Cash Flows
综合现金流量表
Notes to the Consolidated Financial Statements
综合财务报表附注
Particulars of Principal Properties
主要物业资料
Financial Sumary
财务概要
Contents
目录
Corporate Information
公司资料
Financial Highlights
财务摘要
Directors’ Statement
董事述言
Management Discusion and Analysis
管理层讨论与分析
Biographical Details of Directors and Senior Management
董事及高层管理人员之履历详情
Corporate Governance Report
企业管治报告
Environmental, Social and Governance Report
环境、社会及管治报告
Report of the Directors
董事会报告
Independent Auditor’s Report
独立核数师报告
Consolidated Statement of Profit or Los and
Other Comprehensive Income
综合损益及其他全面收益表
Consolidated Statement of Financial Position
综合财务状况表
Consolidated Statement of Changes in Equity
综合权益变动表
Consolidated Statement of Cash Flows
综合现金流量表
Notes to the Consolidated Financial Statements
综合财务报表附注
Particulars of Principal Properties
主要物业资料
Financial Sumary
财务概要
Contents
目录
Corporate
Information
公司资料
ANUAL REPORT 2025 • 二零二五年报3
Corporate Information
公司资料
Board of Directors
Executive Directors
Mr. Xiang Jun (apointed on 1 February 2025)
Ms. Zhou Lan (apointed on 1 September 2024)
Ms. Mou Li (resigned on 1 February 2025)
Mr. Liang Fan (resigned on 1 September 2024)
Independent Non-executive Directors
Mr. Wang Zhengjun
Mr. Liu Ying Shun
Mr. Wang Ping (apointed on 20 July 2024)
Mr. Xu Jianfeng (resigned on 20 July 2024)
Board Comites
Audit Comite
Mr. Liu Ying Shun (Chairman)
Mr. Wang Zhengjun
Mr. Wang Ping (apointed on 20 July 2024)
Mr. Xu Jianfeng (resigned on 20 July 2024)
Nomination Comite
Mr. Wang Zhengjun (Chairman)
Mr. Xiang Jun (apointed on 1 February 2025)
Mr. Liu Ying Shun
Mr. Wang Ping (apointed on 20 July 2024)
Ms. Mou Li (resigned on 1 February 2025)
Mr. Xu Jianfeng (resigned on 20 July 2024)
Remuneration Comite
Mr. Wang Ping (Chairman) (apointed on 20 July 2024)
Mr. Xiang Jun (apointed on 1 February 2025)
Mr. Wang Zhengjun
Mr. Liu Ying Shun
Ms. Mou Li (resigned on 1 February 2025)
Mr. Xu Jianfeng (resigned on 20 July 2024)
Company Secretary
Mr. Leung Siu Kuen
Authorised Representatives
Mr. Xiang Jun (apointed on 1 February 2025)
Mr. Leung Siu Kuen
Ms. Mou Li (resigned on 1 February, 2025)
董事会
执行董事
向均先生（于二零二五年二月一日获委任）
周兰女士（于二零二四年九月一日获委任）
牟莉女士（于二零二五年二月一日辞任）
梁繁先生（于二零二四年九月一日辞任）
独立非执行董事
王政君先生
廖英顺先生
王平先生（于二零二四年七月二十日获委任）
徐健锋先生（于二零二四年七月二十日辞任）
董事会委员会
审核委员会
廖英顺先生（主席）
王政君先生
王平先生（于二零二四年七月二十日获委任）
徐健锋先生（于二零二四年七月二十日辞任）
提名委员会
王政君先生（主席）
向均先生（于二零二五年二月一日获委任）
廖英顺先生
王平先生（于二零二四年七月二十日获委任）
牟莉女士（于二零二五年二月一日辞任）
徐健锋先生（于二零二四年七月二十日辞任）
薪酬委员会
王平先生（主席）（于二零二四年七月二十日获委任）
向均先生（于二零二五年二月一日获委任）
王政君先生
廖英顺先生
牟莉女士（于二零二五年二月一日辞任）
徐健锋先生（于二零二四年七月二十日辞任）
公司秘书
梁兆权先生
授权代表
向均先生（于二零二五年二月一日获委任）
梁兆权先生
牟莉女士（于二零二五年二月一日辞任）
Magnus Concordia Group Limited / 融太集团股份有限公司4
Corporate Information
公司资料
Independent Auditor
ZHONGHUI ANDA CPA Limited
23/F, Tower 2
Enterprise Square Five
38 Wang Chiu Road
Kowlon Bay
Kowlon
Hong Kong
Legal Advisers
Conyers Dil & Pearman (Cayman Islands)
Llinks Law Ofices LP
Charles Wilson LP
Registered Ofice
Cricket Square Hutchins Drive
P.O. Box 2681
Grand Cayman KY1-1111
Cayman Islands
Head Ofice and Principal Place of Busines in
Hong Kong
Units 02–03, 7/F
Tung Wai Comercial Building
109–111 Gloucester Road
Wanchai, Hong Kong
Other Ofice in the People’s Republic of China
Guangdong Boluo Yuanzhou Midas Printing
Limited
Xianan Administration District
Boluo Yuanzhou Town
Huizhou, Guangdong
The People’s Republic of China
独立核数师
中汇安达会计师事务所有限公司
香港
九龙
九龙湾
宏照道
号
企业广场第
期
二座
楼
法律顾问
康德明律师事务所（开曼群岛）
通力律师事务所
乐伟舜律师事务所有限法律责任合伙
注册办事处
Cricket Square Hutchins Drive
P.O. Box 2681
Grand Cayman KY1-1111
Cayman Islands
香港总办事处及主要营业地点
香港湾仔
告士打道
109–111
号
东惠商业大厦
楼
02–03
室
中华人民共和国其他办事处
广东省博罗县园洲勤达印务有限公司
中华人民共和国
广东省惠州市
博罗县园洲镇
下南管理区
ANUAL REPORT 2025 • 二零二五年报5
Corporate Information
公司资料
股份过户登记处
主要股份过户登记处
Conyers Trust Company (Cayman) Limited
Cricket Square
Hutchins Drive
P.O. Box 2681
Grand Cayman KY1-1111
Cayman Islands
香港股份过户登记分处
卓佳证券登记有限公司
香港
夏悫道
号
远东金融中心
楼
主要往来银行
中国银行（香港）有限公司
恒生银行有限公司
股份代号
网址
w.mcgrouphk.com
Registrars
Principal Share Registrar
Conyers Trust Company (Cayman) Limited
Cricket Square
Hutchins Drive
P.O. Box 2681
Grand Cayman KY1-1111
Cayman Islands
Branch Share Registrar in Hong Kong
Tricor Investor Services Limited
17/F, Far East Finance Centre
16 Harcourt Road
Hong Kong
Principal Bankers
Bank of China (Hong Kong) Limited
Hang Seng Bank Limited
Stock Code
Website
w.mcgrouphk.com
Financial
Highlights
财务摘要
Financial Highlights
财务摘要
ANUAL REPORT 2025 • 二零二五年报7
1.
速动资产指流动资产减存货、已完工待售物业以及受
限制银行结存
2.
债务净额指银行及其他借款减现金及现金等值物及受
限制银行结存
3.
资产净值或股东资金指本公司拥有人之应占权益金额
4.
流动比率指流动资产与流动负债的比率
5.
速动比率指速动资产与流动负债的比率
6.
资本负债比率指银行及其他借款与股东资金的比率
7.
净资本负债比率指债务净额与股东资金的比率
8.
股权收益指本公司拥有人年度应占亏损占股东资金的
百分比
HK$ milionHK$ milion
百万港元百万港元
Revenue
收入
Gros profit
毛利
Los before interest expense and
tax (“LBIT”)
未计利息开支及税项前
亏损（「
LBIT
」）
(79)(119)
Los before interest expense, tax,
depreciation and amortization
(“LBITDA”)
未计利息开支、税项、折旧及摊销
前亏损（「
LBITDA
」）
(75)(114)
Los for the year atributable to
owners of the Company
本公司拥有人年度应占
亏损
(85)(117)
Total asets
总资产
Quick asets
速动资产
Net curent liabilities
流动负债净值
(183)(166)
Net debt
债务净额
Shareholders’ funds
股东资金
Shares in isue
已发行股份
5,779,196,660
shares
5,779,196,660
shares
5,779,196,660
股
5,779,196,660
股
Net aset value
per share
每股资产净值
HK$0.01HK$0.02
0.01
港元
0.02
港元
Basic los per share
每股基本亏损
(1.47) HK cents(2.03) HK cents
(1.47)
港仙
(2.03)
港仙
Curent ratio
流动比率
0.660.70
Quick ratio
速动比率
0.300.21
Gearing ratio
资本负债比率
2.321.10
Net gearing ratio
净资本负债比率
1.900.85
Return on equity
股权收益
(150%)(83%)
1. Quick asets represent curent asets les inventories, completed properties for
sale and restricted bank balances
2. Net debt represents bank and other borowings les cash and cash equivalents and
restricted bank balances
3. Net aset value or shareholders’ funds represents the amount of equity atributable
to owners of the Company
4. Curent ratio represents the ratio of curent asets to curent liabilities
5. Quick ratio represents the ratio of quick asets to curent liabilities
6. Gearing ratio represents the ratio of bank and other borowings to shareholders’
funds
7. Net gearing ratio represents the ratio of net debt to shareholders’ funds
8. Return on equity represents the los for the year atributable to owners of the
Company as a percentage of shareholders’ funds
Directors’
Statement
董事述言
ANUAL REPORT 2025 • 二零二五年报9
Directors’ Statement
董事述言
Dear Shareholders,
We present the anual results of Magnus Concordia Group Limited
(the “Company”) and its subsidiaries (colectively the “Group”) for
the year ended 31 March 2025. The Group recorded a revenue of
aproximately HK$206 milion (2024: HK$271 milion), representing
a decrease of 24% from that of the preceding year. Net los for the
year atributable to owners of the Company was aproximately HK$85
milion (2024: HK$117 milion), and los per share was 1.47 HK cents
(2024: 2.03 HK cents). Shareholders’ funds droped by 60% to
aproximately HK$57 milion (2024: HK$142 milion), representing net
aset value per share of HK$0.01 (2024: HK$0.02).
The board (the “Board”) of directors (the “Director(s)”) of the Company
has resolved not to recomend payment of a final dividend for the year
ended 31 March 2025 (2024: nil).
The decrease in the Group’s los was mainly due to the reduction
in net los after taxation to aproximately HK$51 milion (2024:
HK$64 milion) of the property investment busines, resulting from the
decrease in the fair value los from revaluation of investment properties
as at 31 March 2025.
各位股东：
吾等呈列融太集团股份有限公司（「本公司」及
其附属公司，统称「本集团」）截至二零二五年三
月三十一日止年度之年度业绩。本集团录得收
入约
2.06
亿港元（二零二四年：
2.71
亿港元），
较上一年度减少
24%
。本公司拥有人应占年内
亏损净额约为
8,500
万港元（二零二四年：
1.17
亿港元）及每股亏损为
1.47
港仙（二零二四年：
2.03
港仙）。股东资金减少
60%
至约
5,700
万港
元（二零二四年：
1.42
亿港元），相当于每股资
产净值
0.01
港元（二零二四年：
0.02
港元）。
本公司董事（「董事」）会（「董事会」）已议决不建
议派付截至二零二五年三月三十一日止年度之
末期股息（二零二四年：零）。
本集团亏损减少主要受物业投资业务因二零
二五年三月三十一日就重估投资物业之公平值
亏损减少而导致的除税后亏损净额减少至约
5,100
万港元（二零二四年：
6,400
万港元）所致。
Magnus Concordia Group Limited / 融太集团股份有限公司10
Directors’ Statement
董事述言
Loking ahead to 2025, inflation is expected to continue to slow
down. Interest rates in major global economies are anticipated to
have decreased in the first half of 2025 compared to the same period
in 2024, and it is likely that rates wil continue to decline further. This
trend wil set the stage for a stable reduction in interest rates over
the coming years, fostering a recovery in global economic growth. It
is expected that the Chinese government wil intensify its eforts to
stabilise macroeconomic growth, leading to gradual improvements in
key economic indicators. The Chinese economy is projected to make
consistent progres while maintaining stability.
Although economic recovery is expected, we believe that investors wil
maintain a cautious and conservative aproach, only considering high-
quality and impactful investments and seizing oportunities that have a
solid foundation in the market to achieve risk diversification. Changes in
investment sentiment wil also result in fluctuations in the evaluation of
real estate investment and fixed income investment returns.
A detailed review of the Group’s operations this year is set out in the
“Management Discusion and Analysis” section on pages 13 to 25 of
this anual report.
The Group continues to cary out efective internal control measures,
comply with overal corporate governance practices and maintain
proper corporate comunications with investors and other
stakeholders. Details of the Group’s corporate governance practices
and corporate social responsibilities are included in the “Corporate
Governance Report” and “Environmental, Social and Governance
Report”.
展望二零二五年，预计通胀将持续放缓。全球
主要经济体的利率在二零二五年上半年已较二
零二四年同期下跌，预期利率很可能会进一步
下降。这一趋势将为未来几年利率的稳定下降
奠定基础，从而促进全球经济增长的恢复。预
计中国政府将加大努力，稳定宏观经济增长，
带动主要经济指标逐步改善。中国经济有望在
保持稳定的同时实现持续进步。
虽然预计经济将会逐步回暖，本集团相信投资
者将维持审慎及保守的原则，并只考虑优质具
影响力的投资及抓紧市场上具有巩固根基的其
他机会以达致风险分散。投资意欲改变亦导致
评估房地产投资及固定收入投资回报方面出现
波动。
本集团于本年度的营运回顾详情载于本年报第
至
页的「管理层讨论与分析」一节。
本集团继续进行有效的内部监控措施，遵守整
体企业管治常规并与投资者及其他持份者维持
适当的企业交流。有关本集团企业管治常规及
企业社会责任之详情载于「企业管治报告书」及
「环境、社会及管治报告」内。
ANUAL REPORT 2025 • 二零二五年报11
Directors’ Statement
董事述言
凭借有效的风险管理及内部控制系统，本集团
一直对投资组合的市值波动尤为警惕。依托印
刷业务数十年的卓越运营，本集团将继续在不
同行业中寻找促进增长的投资机会，谋求进一
步发展业务。
吾等谨代表董事会借此机会感谢股东、客户及
业务伙伴一直以来对本集团之鼎力支持及信心。
同时亦衷心感谢我们的管理层及全体员工于上
一年度的不懈努力及贡献。
代表董事会
融太集团股份有限公司
董事
向均
谨启
香港，二零二五年六月三十日
Leveraging on the efective risk management and internal control
systems, the Group is staying particular alert to market value volatility
of our investment portfolios. Suported by decades of remarkable
operation of the printing busines, the Group is seking further
busines development in growth-enhancing investment oportunities in
various industries.
On behalf of the Board, we would like to take this oportunity to
expres our gratitude to our shareholders, customers and partners
for their continuous suport and confidence in the Group, as wel as
our apreciation to our executives and staf for their dedication and
contribution during the past year.
Your faithfuly,
On behalf of the Board of
Magnus Concordia Group Limited
Xiang Jun
Director
Hong Kong, 30 June 2025
Management
Discusion
and Analysis
管理层讨论与分析
ANUAL REPORT 2025 • 二零二五年报13
Management Discusion and Analysis
管理层讨论与分析
Review of financial performance
For the year ended 31 March 2025, the Group recorded a consolidated
revenue of aproximately HK$206 milion (2024: HK$271 milion),
representing a decrease of 24% from the last year. The drop in revenue
was mainly resulted from the decrease in sales of residential units of
a property development project in Zigong City, Sichuan Province, the
People’s Republic of China (the “PRC”).
The Group’s gros profit decreased by 24% from the last
coresponding year to aproximately HK$38 milion (2024: HK$50
milion). However, the Group’s gros margin rose to 19% (2024:
18%) of the consolidated revenue, as a result of higher gros margin
recorded from the sale of printed products in the printing busines after
spending eforts to lower the production costs. The printing busines
was able to expand its gros margin to 25% (2024: 24%).
During the year under review, a provision for impairment of stock
of properties of aproximately HK$15 milion (2024: HK$5 milion)
was charged to the consolidated income statement for the property
development project in Zigong City. Liquidity isues of numerous
property developers in Mainland China continued to arise during the
curent financial year leading to a year-on-year drop in contracted
residential property sales. Property developers of non-first-tier cities
reacted by ofering price discount to spur property sales and recoup
cash. Consequently, the estimated gros margin of our high-end
residential vilas in Zigong City was being particularly afected and
resulted in an exces of carying values of the properties over their
recoverable amounts. Acordingly, a provision for impairment on the
stock of properties was made as at 31 March 2025 in acordance with
the relevant acounting policies of the Company.
The Group’s seling and marketing expenses as wel as the
administrative and other operating expenses droped to aproximately
HK$9 milion (2024: HK$15 milion) and aproximately HK$36 milion
(2024: HK$66 milion) respectively, which was a result of the various
cost control measures.
财务表现审视
截至二零二五年三月三十一日止年度，本集团
录得综合收入约
2.06
亿港元（二零二四年：
2.71
亿港元），较去年减少
24%
。收入减少主要由于
中华人民共和国（「中国」）四川省自贡市物业发
展项目住宅单位销售减少所致。
本集团毛利较去年同期减少
24%
至约
3,800
万
港元（二零二四年：
5,000
万港元）。然而，本
集团综合收入的毛利率上升至
19%
（二零二四
年：
18%
），此乃由于印刷业务积极降低生产成
本后，销售印刷产品录得较高的毛利率。印刷
业务能够增加其毛利率至
25%
（二零二四年：
24%
）。
于回顾年度，自贡市物业发展项目计提的物业
存货减值拨备约
1,500
万港元（二零二四年：
万港元）于综合收益表内扣除。于本财政年
度众多中国大陆物业开发商继续出现流动资金
问题，住宅物业销售合约同比下降。非一线城
市物业开发商通过降价刺激房屋销售及回笼资
金。因此，自贡市的高端住宅别墅的估计毛利
率首当其冲，导致物业账面价值超过其可收回
金额。因此，根据本公司有关会计政策，于二
零二五年三月三十一日物业存货需作减值拨备。
集团的销售及推广支出以及行政费用及其他经
营支出分别降至约
万港元（二零二四年：
1,500
万港元）及约
3,600
万港元（二零二四年：
6,600
万港元），乃由各项成本控制措施所致。
Magnus Concordia Group Limited / 融太集团股份有限公司14
Management Discusion and Analysis
管理层讨论与分析
Review of financial performance (Continued)
The Group’s other income, expense and net loses, reversal of
impairment/(impairment) of acounts receivable and fair value change
of financial asets at fair value through profit or los amounted to a net
los of aproximately HK$9 milion (2024: HK$11 milion). The amount
mainly included reversal of impairment of acounts receivable of
aproximately HK$2 milion (2024: impairment of acounts receivable
of aproximately HK$3 milion), impairment of intangible asets of
aproximately HK$0.4 milion (2024: nil), write-down on other asets of
aproximately HK$5 milion (2024: HK$8 milion) and los on disposal
of investment properties of aproximately HK$7 milion (2024: nil).
The fair value los from revaluation of investment properties as at 31
March 2025 amounted to aproximately HK$48 milion (2024: HK$72
milion). The market values of investment properties as at 31 March
2025 were being afected by the weak market sentiment resulting from
the slower-than-expected growth in Mainland China and Hong Kong’s
economy, despite that stable rental income continues to be generated
from such properties. Moreover, a shift in the Hong Kong market was
observed, with increased cros-border consumption in Mainland China.
This shift contributed to a moderation in the demand of properties for
retail use.
The Group’s finance costs during the year under review amounted to
aproximately HK$7 milion (2024: HK$10 milion), which were mainly
related to interest charged by bank borowings to finance the general
working capital of the Group during the year. The decrease in finance
costs was mainly due to the drop in Hong Kong Interbank Ofered Rate
and decrease in bank and other borowings during the year.
财务表现审视（续）
本集团其他收入、支出及亏损净额，应收账款
减值拨回╱减值，以及按公平值计入损益之金
融资产之公平值变动的亏损净额约为
万港
元（二零二四年：
1,100
万港元）。该金额主要包
括应收账款减值拨回约
万港元（二零二四年：
应收账款减值约
万港元）、无形资产减值约
万港元（二零二四年：无）、其他资产撇减约
万港元（二零二四年：
万港元）及出售投
资物业之损失约
万港元（二零二四年：无）。
于二零二五年三月三十一日，重估投资物业之
公平值亏损约为
4,800
万港元（二零二四年：
7,200
万港元）。尽管该等物业继续产生稳定的
租金收入流，惟于二零二五年三月三十一日，
投资物业的市值受中国大陆及香港经济增长未
及预期引致市场气氛疲弱所影响。此外，随著
香港人在中国大陆的跨境消费增加，香港市场
亦出现转变。这种转变导致零售物业的需求放缓。
于回顾年度，本集团的融资费用录得约
万
港元（二零二四年：
1,000
万港元），乃主要与年
内为本集团一般营运资金拨资的银行借贷收取
之利息有关。融资费用减少主要由于香港银行
同业拆息下跌和银行及其他借款减少所致。
ANUAL REPORT 2025 • 二零二五年报15
Management Discusion and Analysis
管理层讨论与分析
Review of financial performance (Continued)
During the year under review, the Group recorded a los before tax
of aproximately HK$86 milion (2024: HK$129 milion), which was
atributed to the folowing operating segments and factors:
(i) Printing — profit of aproximately HK$11 milion (2024: HK$5
milion);
(i) Property development — los of aproximately HK$24 milion
(2024: HK$35 milion);
(i) Property investment — los of aproximately HK$53 milion (2024:
HK$74 milion);
(iv) Treasury — los of aproximately HK$2 milion (2024: HK$1
milion);
(v) Net corporate expenses and other busineses of aproximately
HK$11 milion (2024: HK$14 milion); and
(vi) Finance costs of aproximately HK$7 milion (2024: HK$10
milion).
Los for the year atributable to owners of the Company amounted
to aproximately HK$85 milion (2024: HK$117 milion), and los per
share was 1.47 HK cents (2024: 2.03 HK cents). The decrease in the
Group’s los was mainly due to the reduction in net los after taxation
to aproximately HK$51 milion (2024: HK$64 milion) of the property
investment busines, resulting from the decrease in the fair value los
from revaluation of investment properties as at 31 March 2025.
财务表现审视（续）
于回顾年度，本集团录得除税前亏损约
8,600
万
港元（二零二四年：
1.29
亿港元），乃由下列经
营分部及因素导致：
(i)
印刷
—
溢利约
1,100
万港元（二零二四年：
万港元）；
(i)
物业发展
—
亏损约
2,400
万港元（二零
二四年：
3,500
万港元）；
(i)
物业投资
—
亏损约
5,300
万港元（二零
二四年：
7,400
万港元）；
(iv)
库务
—
亏损约
万港元（二零二四年：
万港元）；
(v)
企业支出净额及其他业务约
1,100
万港元
（二零二四年：
1,400
万港元）；及
(vi)
融资费用约
万港元（二零二四年：
1,000
万港元）。
本公司拥有人应占年内亏损约为
8,500
万港元（二
零二四年：
1.17
亿港元），每股亏损为
1.47
港仙
（二零二四年：
2.03
港仙）。本集团亏损减少主
要受物业投资业务因二零二五年三月三十一日
就重估投资物业之公平值亏损减少而导致的除
税后亏损净额减少至约
5,100
万港元（二零二四
年：
6,400
万港元）所致。
Magnus Concordia Group Limited / 融太集团股份有限公司16
Management Discusion and Analysis
管理层讨论与分析
Review of financial position
Regarding the Group’s financial position as at 31 March 2025, total
asets decreased by 19% to aproximately HK$609 milion (2024:
HK$755 milion), which was mainly due to the recognition of carying
costs of stock of properties to costs of properties sold arising from
the sale of properties during the year and the fair value los from
revaluation of investment properties made as at 31 March 2025. As
at 31 March 2025, net curent liabilities amounted to aproximately
HK$183 milion (2024: HK$166 milion), whereas curent ratio deriving
from the ratio of curent asets to curent liabilities amounted to 0.66
times (2024: 0.70 times). Such changes were mainly afected by
the recognition of carying costs of stock of properties to costs of
properties sold arising from the sale of properties during the year.
The net cash outflow from operating activities was aproximately
HK$12 milion (2024: net cash inflow of aproximately HK$40 milion).
The net cash inflow from investing activities was aproximately
HK$29 milion (2024: HK$2 milion). Taking into acount the net cash
outflow from financing activities of aproximately HK$32 milion (2024:
HK$43 milion), the Group recorded a net decrease in cash and cash
equivalents of aproximately HK$15 milion (2024: HK$1 milion). After
acounting for the exchange los on cash and cash equivalents of
aproximately HK$0.3 milion during the year under review, the balance
of cash and cash equivalents amounted to aproximately HK$20
milion as at 31 March 2025 (2024: HK$35 milion).
Shareholders’ funds atributable to owners of the Company decreased
by 60% to aproximately HK$57 milion (2024: HK$142 milion),
representing HK$0.01 per share (2024: HK$0.02 per share) as at 31
March 2025. The change in equity was resulted from the net los for
the year of aproximately HK$85 milion (2024: HK$117 milion), and
after net of the Renminbi exchange los arising from translation of
foreign operations of aproximately HK$0.3 milion (2024: HK$6 milion)
during the year under review.
财务状况审视
本集团于二零二五年三月三十一日之财务状况
方面，资产总值减少
19%
至约
6.09
亿港元（二
零二四年：
7.55
亿港元），主要由于年内销售物
业致使于物业存货账面值确认为已售出物业成
本以及于二零二五年三月三十一日重估投资物
业之公平值亏损。于二零二五年三月三十一日，
流动负债净值约为
1.83
亿港元（二零二四年：
1.66
亿港元），而流动资产与流动负债之流动比
率为
0.66
倍（二零二四年：
0.70
倍）。该变动乃
主要受于年内销售物业致使于物业存货账面值
确认为已售出物业成本影响所致。
经营活动产生现金流出净额约
1,200
万港元（二
零二四年：现金流入净额约
4,000
万港元）。投
资活动产生现金流入净额约
2,900
万港元（二零
二四年：
万港元）。计及融资活动产生现金
流出净额约
3,200
万港元（二零二四年：
4,300
万港元），本集团录得现金及现金等值物净减
少约
1,500
万港元（二零二四年：
万港元）。
于回顾年度，将现金及现金等值物之汇兑亏损
约
万港元入账后，于二零二五年三月三十一
日现金及现金等值物结存约为
2,000
万港元（二
零二四年：
3,500
万港元）。
于二零二五年三月三十一日，本公司拥有人应
占股东资金减少
60%
至约
5,700
万港元（二零
二四年：
1.42
亿港元），即每股
0.01
港元（二零
二四年：每股
0.02
港元）。该权益变动乃由于回
顾年度内净亏损约
8,500
万港元（二零二四年：
1.17
亿港元）及回顾年度换算海外业务产生之
人民币汇兑亏损约
万港元（二零二四年：
万港元）。
ANUAL REPORT 2025 • 二零二五年报17
Management Discusion and Analysis
管理层讨论与分析
Review of operations and busines
development
Printing busines
The printing busines includes the manufacture and sale of printed
products, including art boks, packaging boxes and children’s boks,
with the production facilities located in Huizhou City, Guangdong
Province, the PRC. It recorded an operating profit of aproximately
HK$11 milion (2024: HK$5 milion) for the year under review.
Under the influence of the soft demand of printed products resulting
from the decelerating economic growth momentum under the
high inflationary environment in Europe and the United States of
America, the revenue of the printing busines recorded a decline to
aproximately HK$118 milion (2024: HK$131 milion) for the year
under review. However, the gros margin compared to last financial
year has improved by adopting various cost control measures and
by enhancing its competitive edge in inovative design, quality
management and production resources. The management also reacts
promptly to reduce the market chalenges to a minimum by devising
various modernized sourcing, manufacturing, distribution, logistics and
market segmentation solutions.
The management remains cautiously optimistic about the growth
momentum in the global bok printing and paper packaging markets,
and apropriate risk management and prompt busines deployment
have ben caried out to chanel threats into growth oportunities.
营运及业务发展审视
印刷业务
印刷业务包括生产及销售印刷产品，产品包括
艺术图书、包装盒及儿童图书，生产设施位于
中国广东省惠州市。于回顾年度，该项业务录
得经营溢利约
1,100
万港元（二零二四年：
万港元）。
受欧洲及美国高通胀环境下经济增长势头放缓
导致印刷产品需求疲软的影响，印刷业务录得
收益减少至约
1.18
亿港元（二零二四年：
1.31
亿
港元）。但透过采取多项成本控制措施，并于创
新设计、品质管理及生产资源方面加强其竞争
优势，与上一财政年度相比，毛利率有所提高。
管理层亦通过制定多项现代化的采购、制造、
分销、物流及市场细分化解决方案，迅速作出
反应以尽量缓解市场挑战。
管理层对全球图书印刷及纸包装市场的增长势
头仍保持审慎乐观态度，并实施适当风险管理
及业务发展策略，以将风险转为增长机遇。
Magnus Concordia Group Limited / 融太集团股份有限公司18
Management Discusion and Analysis
管理层讨论与分析
营运及业务发展审视（续）
物业发展业务
物业发展业务包括主要于中国内地进行房地产
物业发展、销售及买卖。年内录得经营亏损约
2,400
万港元（二零二四年：
3,500
万港元）。经
营亏损主要由于就自贡市的物业发展项目作出
有关住宅物业的物业存货减值拨备约
1,500
万
港元（二零二四年：
万港元），乃因受众多
物业开发商面临流动资金风险而降价回款所致。
项目为本集团贡献收入约
8,400
万港元（二零
二四年：
8,500
万港元），其产生自年内销售住
宅单位建筑面积约
8,000
平方米（「平方米」）（二
零二四年：
7,000
平方米）。
于二零一九年八月一日，本集团收购一项位于
中国四川省自贡市高新技术产业开发区卧龙湖
盐卤浴片区，属于中港
·
燊海森林项目一部分
的其中三幅地块之住宅物业发展业务。尽管约
190,000
平方米的建筑面积已于收购日期前出
售及交付，但该三幅地块的总剩余建筑面积约
为
500,000
平方米，于二零一九年八月一日后
可作销售确认。于二零二五年三月三十一日，
于该建筑面积约
500,000
平方米中，已交付予客
户之已完工住宅单位的建筑面积约为
490,000
平方米。于二零二五年三月三十一日，自贡市
的已完工待售物业的账面值约为
1.79
亿港元（二
零二四年：
2.63
亿港元）。
Review of operations and busines
development (Continued)
Property development busines
The property development busines involves the development, sale
and trading of real estate properties principaly in Mainland China. It
recorded an operating los of aproximately HK$24 milion (2024:
HK$35 milion) for the year. The operating los was mainly resulted
from the provision for impairment of stock of properties relating to the
residential properties of aproximately HK$15 milion (2024: HK$5
milion) for the property development project in Zigong City, which was
afected by the liquidity crisis of property developers to recoup cash
by lowering price. The project contributed revenue of aproximately
HK$84 milion (2024: HK$85 milion) to the Group, which was
generated from the sale of residential units with gros flor area of
aproximately 8,000 square meters (“sq m”) (2024: 7,000 sq m) during
the year.
On 1 August 2019, the Group acquired a residential property
development busines containing thre plots of land forming part of
the Zhongang Shenhai Forest Project (
中港燊海森林项目
), located
in the high-tech industrial development zone of the Yanluyu District
of Wolong Lake in Zigong City, Sichuan Province, the PRC (
中国四
川省自贡市高新技术产业开发区高新卧龙湖盐卤浴片区
). Despite
the gros flor area of aproximately 190,000 sq m being sold and
delivered before the date of acquisition, the thre plots of land have an
agregate remaining gros flor area of aproximately 500,000 sq m
available for sales recognition subsequent to 1 August 2019. As at 31
March 2025, out of this gros flor area of aproximately 500,000 sq
m, completed residential units with gros flor area of aproximately
490,000 sq m had ben delivered to customers. As at 31 March 2025,
the carying value of the completed properties for sale in Zigong City
amounted to aproximately HK$179 milion (2024: HK$263 milion).
ANUAL REPORT 2025 • 二零二五年报19
Management Discusion and Analysis
管理层讨论与分析
营运及业务发展审视（续）
物业发展业务（续）
截至二零二四年三月三十一日止年度，已售出
最后
个位于中国湖南省长沙市之聚豪山庄（亦
称比华利山）总建筑面积约
4,700
平方米的住宅
别墅单位，为集团贡献收入约
4,800
万港元。
于二零二五年三月三十一日及二零二四年三月
三十一日，本集团不再持有任何住宅别墅单位。
本集团仍审慎监察中国内地房地产市场，以持
续优化物业发展业务的营运，为股东带来最大
回报。
物业投资业务
物业投资业务包括房地产物业投资及租赁，于
回顾年度录得经营亏损约
5,300
万港元（二零
二四年：
7,400
万港元）。亏损乃主要来自位于
香港及中国内地之投资物业的未变现重估亏损
约
4,800
万港元（二零二四年：
7,200
万港元），
其于二零二五年三月三十一日之市值受中国大
陆及香港经济增长未及预期引致市场气氛疲弱
所影响。此外，随著香港人在中国大陆的跨境
消费增加，香港市场亦出现转变。这种转变导
致零售物业的需求放缓。
同时，本集团已于回顾年度全数出售位于中国
广东省广州市的投资物业，其损失净额为约
万港元。
Review of operations and busines
development (Continued)
Property development busines (Continued)
During the year ended 31 March 2024, the last 15 units of residential
vilas at the estate Ju Hao Shan Zhuang (also known as Beverly Hils)
situated in Changsha City, Hunan Province, the PRC with gros flor
area of aproximately 4,700 sq m had ben sold and contributed
revenue of aproximately HK$48 milion to the Group. The Group no
longer held any residential vilas for sale as at 31 March 2025 and 31
March 2024.
The Group remains cautious in monitoring the real estate market in
Mainland China in order to continue to optimise the operations of
property development busines to maximise return for its shareholders.
Property investment busines
The property investment busines involves the investment and
leasing of real estate properties, which recorded an operating los of
aproximately HK$53 milion (2024: HK$74 milion) for the year under
review. The los was mainly resulted from the unrealised revaluation
los of the investment properties located in Hong Kong and Mainland
China of aproximately HK$48 milion (2024: HK$72 milion), which
their market values as at 31 March 2025 were being afected by the
weak market sentiment resulting from the slower-than-expected
growth in Mainland China and Hong Kong’s economy. Moreover, a
shift in the Hong Kong market was observed, with increased cros-
border consumption in Mainland China. This shift contributed to a
moderation in the demand of properties for retail use.
Meanwhile, the Group has fuly disposed the investment properties
located in Guangzhou City, Guangdong Province, the PRC with a net
los amounted to aproximately HK$7 milion during the year under
review.
Magnus Concordia Group Limited / 融太集团股份有限公司20
Management Discusion and Analysis
管理层讨论与分析
营运及业务发展审视（续）
物业投资业务（续）
于二零二五年三月三十一日，本集团持有下列
公平市值约
2.32
亿港元（二零二四年：
3.21
亿港
元）之投资物业，于年内贡献租金收入约
万
港元（二零二四年：
万港元）：
*
该投资物业已于年内出售。
本集团对物业投资业务的前景持审慎乐观态度。
投资物业组合乃为长期投资目的而收购，以期
为本集团提供稳定的收入来源。本集团持续监
察投资物业组合的资本变动及租金收益率，并
考虑于良机出现时重新平衡该投资组合。
Review of operations and busines
development (Continued)
Property investment busines (Continued)
As at 31 March 2025, the Group held the folowing investment
properties caried at fair market value of aproximately HK$232
milion (2024: HK$321 milion), which contributed rental income of
aproximately HK$4 milion (2024: HK$7 milion) during the year:
LocationGros Flor AreaUsage
地点建筑面积用途
Investment properties in Hong Kong
香港之投资物业
Shop B, Ground Flor, Wuhu Residence, No. 111 Wuhu Stret, Hunghom, Kowlon1,014 square fet
(“sq ft”)
Comercial
九龙红磡芜湖街
号芜湖居地下
B
商舖
1,014
平方呎商业
Shop D, Ground Flor, Wuhu Residence, No. 111 Wuhu Stret, Hunghom, Kowlon1,293 sq ftComercial
九龙红磡芜湖街
号芜湖居地下
D
商舖
1,293
平方呎商业
Shops 3, 4, 5, Parkes Residence, No. 101 Parkes Stret, Kowlon2,090 sq ftComercial
九龙白加士街
号珀
·
轩地下
号、
号及
号商舖
2,090
平方呎商业
Investment properties in Mainland China
中国大陆之投资物业
Level 6, Chengdu Digital Plaza, No. 1 Renmin South Road Fourth Portion,
Wuhou District, Chengdu City, Sichuan Province, the PRC
4,255 sq mComercial
中国四川省成都市武侯区人民南路四段
号成都数码广场
楼
4,255
平方米商业
Units 01, 02, 03, 06 and 07, 38th Flor, R&F Yingkai Square, No. 16 Huaxia Road,
Tianhe District, Guangzhou City, Guangdong Province, the PRC*
895 sq mOfice
中国广东省广州市天河区华夏路
号富力盈凯广场
楼
室、
室、
室、
室及
室
*
平方米写字楼
* The investment properties have ben disposed during the year.
The Group remains cautiously optimistic about the prospect of the
property investment busines. The portfolio of investment properties
was acquired for long term investment purpose so as to provide a
stable income stream to the Group. The Group keps on monitoring
the capital change and rental yields of the portfolio and considers to
rebalance the investment portfolio when ideal oportunities arise.
ANUAL REPORT 2025 • 二零二五年报21
Management Discusion and Analysis
管理层讨论与分析
营运及业务发展审视（续）
库务业务
库务业务包括债券、权益及其他库务工具投资
及买卖，以及在香港持牌进行的受规管活动，
即根据香港法例第
章证券及期货条例就证
券提供意见（第
类）及提供资产管理（第
类）。
于回顾年度录得经营亏损约
万港元（二零
二四年：
万港元），主要受于二零二五年
三月三十一日无形资产减值约
万港元（二零
二四年：无）所影响。
本集团透过采用最佳风险回报平衡投资策略，
继续谨慎监察投资组合的潜在价格风险及信贷
风险。香港作为大湾区内全球领先的金融中心，
为把握香港资产管理市场的机遇，本集团正在
开拓金融及资产管理服务市场。
流动资金及资本资源
于二零二五年三月三十一日，本集团的总资产
约为
6.09
亿港元（二零二四年：
7.55
亿港元），
由股东资金及多项信贷融资提供资金。本集团
仍持有银行融资以为其营运资金及承诺资本开
支提供资金，有关融资按市场利率计息，还款
合约年期介乎于一年内至五年。本集团已采纳
一项库务政策使权益回报最大化，该项政策透
过考虑所有可得选项（包括债务与股权融资混
合的方式）管理新资本项目的资金需求。
Review of operations and busines
development (Continued)
Treasury busines
The treasury busines involves the investment and trading of debts,
equity and other treasury instruments, as wel as the licensed regulated
activities namely advising on securities (Type 4) and aset management
(Type 9) under the Securities and Future Ordinance (Chapter 571 of the
Law of Hong Kong) in Hong Kong. An operating los of aproximately
HK$2 milion (2024: HK$1 milion) was recorded for the year under
review, which was mainly afected by an impairment los of intangible
asets as at 31 March 2025 of aproximately HK$0.4 milion (2024:
nil).
The Group remains cautious in monitoring the investment portfolio’s
underlying price risk and credit risk by adopting an optimal risk-return
balance investment strategy. In order to capture oportunities in the
Hong Kong aset management market emerging from being a leading
global financial hub within the Greater Bay Area, the Group is exploring
into the financial and aset management services markets.
Liquidity and capital resources
As at 31 March 2025, the Group’s total asets amounted to
aproximately HK$609 milion (2024: HK$755 milion), which were
financed by shareholders’ funds and various credit facilities. Banking
facilities are maintained to finance the Group’s working capital and
comited capital expenditures, which bear interest at market rate
with contractual terms of repayment ranging from within one year to
five years. The Group adopts a treasury policy to maximize the return
on equity, which manages the funding requirements for new capital
projects by considering al available options including a hybrid of debt
and equity financing.
Magnus Concordia Group Limited / 融太集团股份有限公司22
Management Discusion and Analysis
管理层讨论与分析
流动资金及资本资源（续）
本集团产生的收入及成本主要以港元、人民币
及美元计值。于回顾年度内，并无使用金融工
具作对冲用途，亦无外币投资净额由外币借贷
或其他对冲工具作对冲。本集团按个别交易基
准管理汇率及利率的波动风险。
于二零二五年三月三十一日，本集团有银行及
其他借款约
1.32
亿港元（二零二四年：
1.56
亿港
元），而银行借款约
1.05
亿港元（二零二四年：
1.29
亿港元）并须按要求或于一年内偿还。银行
借款按浮动利率计息，其中约
8,800
万港元（二
零二四年：
1.18
亿港元）以港元计值及约
1,700
万港元（二零二四年：
1,100
万港元）以人民币
计值。本集团的资本负债比率为
2.32
（二零二四
年：
1.10
），其为银行及其他借款总额约
1.32
亿
港元（二零二四年：
1.56
亿港元）与股东资金约
5,700
万港元（二零二四年：
1.42
亿港元）的比率。
于二零二五年三月三十一日，本集团有现金及
现金等值物和受限制银行结存分别为约
2,000
万港元（二零二四年：
3,500
万港元）和约
万
港元（二零二四年：
万元）。本集团有现金及
现金等值物和受限制银行结存约
1,600
万港元（二
零二四年：
1,200
万港元）以港元计值、约
万
港元（二零二四年：
万港元）以美元计值、
约
万港元（二零二四年：
2,200
万港元）以人
民币计值及约
万港元（二零二四年：
万港
元）以其他货币计值。于二零二五年三月三十一
日，本集团债务净额状况（即银行及其他借款扣
除现金及现金等值物和受限制银行结存）为约
1.08
亿港元（二零二四年：
1.21
亿港元）。
Liquidity and capital resources (Continued)
The Group mainly generated income and incured costs in Hong
Kong dolar, Renminbi and United States dolar. During the year under
review, no financial instruments had ben used for hedging purpose,
and no foreign curency net investments had ben hedged by curency
borowings or other hedging instruments. The Group manages
the exposures of fluctuation on exchange rate and interest rate on
individual transaction basis.
As at 31 March 2025, the Group’s bank and other borowings
amounted to aproximately HK$132 milion (2024: HK$156 milion)
while bank borowings aproximately HK$105 milion (2024: HK$129
milion) which were repayable on demand or within one year. The bank
borowings bore interest at floating rate, aproximately HK$88 milion
(2024: HK$118 milion) of which were denominated in Hong Kong
dolar and aproximately HK$17 milion (2024: HK$11 milion) of which
were denominated in Renminbi. The Group’s gearing ratio was 2.32
(2024: 1.10), which was calculated based on the ratio of total bank
and other borowings of aproximately HK$132 milion (2024: HK$156
milion) to the shareholders’ funds of aproximately HK$57 milion (2024:
HK$142 milion).
As at 31 March 2025, the Group’s cash and cash equivalents and
restricted bank balances amounted to aproximately HK$20 milion
(2024: HK$35 milion) and aproximately HK$4 milion (2024: HK$0.01
milion) respectively. Aproximately HK$16 milion (2024: HK$12 milion)
of the Group’s cash and cash equivalents and restricted bank balances
were denominated in Hong Kong dolar, aproximately HK$0.1
milion (2024: HK$1 milion) were denominated in United States dolar,
aproximately HK$8 milion (2024: HK$22 milion) were denominated
in Renminbi and aproximately HK$0.2 milion (2024: HK$0.2 milion)
were denominated in other curencies. As at 31 March 2025, the
Group had a net debt position (being bank and other borowings
net of cash and cash equivalents and restricted bank balances) of
aproximately HK$108 milion (2024: HK$121 milion).
ANUAL REPORT 2025 • 二零二五年报23
Management Discusion and Analysis
管理层讨论与分析
Outlok
Loking ahead to 2025, inflation is expected to continue to slow
down. Interest rates in major global economies are anticipated to
have decreased in the first half of 2025 compared to the same period
in 2024, and it is likely that rates wil continue to decline further. This
trend wil set the stage for a stable reduction in interest rates over
the coming years, fostering a recovery in global economic growth. It
is expected that the Chinese government wil intensify its eforts to
stabilise macroeconomic growth, leading to gradual improvements in
key economic indicators. The Chinese economy is projected to make
consistent progres while maintaining stability.
Although economic recovery is expected, we believe that investors wil
maintain a cautious and conservative aproach, only considering high-
quality and impactful investments and seizing oportunities that have a
solid foundation in the market to achieve risk diversification. Changes in
investment sentiment wil also result in fluctuations in the evaluation of
real estate investment and fixed income investment returns.
Leveraging on the efective risk management and internal control
systems, the Group is staying particular alert to market value volatility
of our investment portfolios. Suported by decades of remarkable
operation of the printing busines, the Group is seking further
busines development in growth-enhancing investment oportunities in
various industries.
Contingent Liabilities
As at 31 March 2025, the Group provided financial guarantes in
respect of mortgage loans made by certain banks to certain purchasers
of the properties in the PRC, either directly provided to the banks or
to the housing provident fund management center who aranged the
bank mortgage, which amounted to aproximately HK$601 milion
(2024: HK$706 milion).
展望
展望二零二五年，预计通胀将持续放缓。全球
主要经济体的利率在二零二五年上半年已较二
零二四年同期下跌，预期利率很可能会进一步
下降。这一趋势将为未来几年利率的稳定下降
奠定基础，从而促进全球经济增长的恢复。预
计中国政府将加大努力，稳定宏观经济增长，
带动主要经济指标逐步改善。中国经济有望在
保持稳定的同时实现持续进步。
虽然预计经济将会逐步回暖，本集团相信投资
者将维持审慎及保守的原则，并只考虑优质具
影响力的投资及抓紧市场上具有巩固根基的其
他机会以达致风险分散。投资意欲改变亦导致
评估房地产投资及固定收入投资回报方面出现
波动。
凭借有效的风险管理及内部控制系统，本集团
一直对投资组合的市值波动尤为警惕。依托印
刷业务数十年的卓越运营，本集团将继续在不
同行业中寻找促进增长的投资机会，谋求进一
步发展业务。
或然负债
于二零二五年三月三十一日，本集团就由若干
银行向若干中国物业买方作出的抵押贷款提供
财务担保约
6.01
亿港元（二零二四年：
7.06
亿港
元），方式为直接向银行或向安排银行抵押之
住房公积金管理中心提供。
Magnus Concordia Group Limited / 融太集团股份有限公司24
Management Discusion and Analysis
管理层讨论与分析
资产质押
于二零二五年三月三十一日，本集团已质押账
面总值约
1.86
亿港元（二零二四年：
2.34
亿港元）
的若干资产（包括使用权资产、物业、厂房及设
备及投资物业），以担保本集团银行融资。于二
零二四年三月三十一日，本集团银行融资亦由
本集团一间附属公司的股权抵押作担保。
于二零二五年三月三十一日，约
22,213,000
港
元（二零二四年：无）之其他借款乃以本集团金
额约
18,626,000
港元（二零二四年：无）之已完
工待售物业作抵押。
承担
于二零二五年三月三十一日，本集团并无已订
约但未于综合财务报表拨备之资本开支（二零
二四年：无）。
环境、社会及合规事宜
就本集团环境政策及表现的讨论，遵守业务营
运之法律及监管规定以及与其雇员、客户、供
应商及其他对本集团有重大影响的人士之主要
关系已载于本年报第
至
页之「环境、社会
及管治报告」。
于回顾年度，本集团已遵守所有对本集团业务
及营运有重大影响之相关法例及规例。据董事
会及管理层所知，本集团并无严重违反或不遵
守适用之法例及规例，致令本集团之业务及营
运受到重大影响。
Pledge of Asets
As at 31 March 2025, the Group pledged certain asets including
right-of-use asets, property, plant and equipment and investment
properties with an agregate carying value of aproximately HK$186
milion (2024: HK$234 milion) to secure bank facilities of the Group.
The bank facilities of the Group are also secured by charges over
equity interests in a subsidiary of the Group as at 31 March 2024.
As at 31 March 2025, the other borowings of aproximately
HK$22,213,000 (2024: nil) are secured by the pledge of the
Group’s completed properties for sale amounting to aproximately
HK$18,626,000 (2024: nil).
Comitments
As at 31 March 2025, the Group did not have capital expenditure
contracted for but not provided for in the consolidated financial
statements (2024: nil).
Environmental, Social and Compliance
Maters
Discusions on the Group’s environmental policies and performance,
compliance with the legal and regulatory requirements of the busines
operations and the key relationships with its employes, customers,
supliers and others that have significant impact on the Group are
provided in the “Environmental, Social and Governance Report” as set
out on pages 73 to 122 of this anual report.
During the year under review, the Group had complied with al
the relevant laws and regulations that have significant impacts on
the busineses and operations of the Group. As far as the Board
and management are aware, there was no material breach of or
noncompliance with the aplicable laws and regulations by the Group
that has a significant impact on the busineses and operations of the
Group.
ANUAL REPORT 2025 • 二零二五年报25
Management Discusion and Analysis
管理层讨论与分析
主要风险及不明朗因素
诚如「企业管治报告书」企业风险管理框架所述，
本集团已根据其发生的可能性及对本集团业务
影响的重大程度评估及识别本集团面临之有关
战略、营运及财务方面的主要风险。本集团已
设立有效的风险管理系统以管理主要风险及管
理层已评估应对计划。
若干财务风险及重要判断及主要估计的不明朗
因素亦分别载于本年报综合财务报表附注
及
。
若干环境及社会相关风险已于本年报第
至
页载列之「环境、社会及管治报告」内陈述。
附属公司及联属公司之重大收购
及出售事项
本集团于截至二零二五年三月三十一日止年度
并无任何附属公司、联营公司及合营企业之重
大收购及出售事项。
报告期后事项
就本集团于年内违反财务契诺之银行借款
88,000,000
港元而言，本集团已于二零二五年
六月二十七日获得银行就上述银行借款在整
个存续期内的财务契诺作出一次性豁免。在该
融资期间，本集团同意并向银行承诺，其综合
有形净值在任何时候都不得低于一定水准。这
项一次性豁免仅适用于本集团公布的截至二零
二五年三月三十一日止未经审核及经审核年度
业绩。借款之还款时间表和按要求偿还条款保
持不变。此外，本集团已按照还款时间表于二
零二五年四月八日向银行偿还
4,000,000
港元。
Principal Risks and Uncertainties
As stated in the enterprise risk management framework of
the“Corporate Governance Report”, the Group has asesed and
identified key risks in terms of strategic, operational and financial
aspects facing the Group in acordance with the likelihod of their
ocurence and the significance of their impact on the busines
of the Group. An efective risk management system is in place to
manage the key risks and response plans have ben evaluated by the
management.
Certain financial risks and uncertainties about critical judgements and
key estimates are also set out in notes 6 and 5, respectively to the
consolidated financial statements in this anual report.
Certain environmental and social related risks have ben described
in the “Environmental, Social and Governance Report” as set out on
pages 73 to 122 of this anual report.
Material Acquisition and Disposal of
Subsidiaries and Afiliated Companies
The Group did not have any material acquisition and disposal of
subsidiaries, asociates and joint ventures during the year ended 31
March 2025.
Event After the Reporting Period
In respect of the bank borowing of HK$88,000,000 which the Group
breached the financial covenant during the year, the Group has
obtained a one-of waiver from the bank on 27 June 2025 for the
financial covenant of the aforesaid bank borowing that throughout
the life of the facility, the Group agres and undertakes to the bank
that its consolidated tangible net worth should not at any time be les
than a certain level. This one-of waiver only aplies to the Group’s
anouncement of unaudited and audited anual results for the year
ended 31 March 2025. The repayment schedules of the borowing
and the repayment on demand clause remain unchanged. Further,
the Group has repaid HK$4,000,000 to the bank on 8 April 2025 in
acordance with the repayment schedule.
Biographical
Details of
Directors and
Senior Management
董事及高层管理人员之
履历详情
Biographical Details of Directors and Senior Management
董事及高层管理人员之履历详情
ANUAL REPORT 2025 • 二零二五年报27
*
For identification purpose only*
仅供识别
Executive Directors
Mr. Xiang Jun
Mr. Xiang Jun (“Mr. Xiang”) was apointed as an executive director
of the Company on 1 February 2025. He is also a member of the
Nomination Comite and a member of the Remuneration Comite
of the Company.
Mr. Xiang Jun, 50, is curently the Asistant General Manager of a
garden landscape project company in Chengdu. Mr. Xiang has many
years of working experience including real estate management and
project management. Mr. Xiang has rich experience in comunicating
and coperation with local government departments and oficials. Our
Group believes that the past working experience of Mr. Xiang can help
to promote the various projects and busineses of our Group in future.
Ms. Zhou Lan
Ms. Zhou Lan, (“Ms. Zhou”) was apointed as an executive director of
the Company on 1 September 2024.
Ms. Zhou Lan, (“Ms. Zhou”), 51, graduated from the Zigong Shi
Economics and Finance Schol in 1994. Ms. Zhou also obtained other
academic qualifications in acounting and finance. She started as an
acounting staf and later became the head of finance. Ms. Zhou has
thirty years working experience in acounting and finance. She worked
with companies in various industries including construction project,
labour service, trading and logistics. Ms. Zhou joined our Group in
2021 and she is curently working in the finance department of a
subsidiary of our Group in mainland China.
执行董事
向均先生
向均先生（「向先生」）于二零二五年二月一日获
委任为本公司执行董事。彼亦为本公司提名委
员会委员及薪酬委员会委员。
向均先生，
岁，现任职一间成都园林工程公
司副总经理。向先生具有多年工作经验，包括
物业管理、工程管理等。向先生在与地方政
府部门和官员，内地不同企业有丰富沟通及合
作经验。本集团相信向先生过往的工作经验能
协助推动本集团今后各项目和业务的发展。
�兰女士
�兰女士（「周女士」）于二零二四年九月一日获
委任为本公司执行董事。
周女士，
岁，于一九四年毕业于自贡市财
经学校。周女士亦取得其他会计及财务学历。
彼开始时为会计员及后成为财务负责人。周女
士具有三十年会计及财务工作经验。彼曾在不
同行业的公司工作包括建筑工程，劳务服务，
贸易及物流业。周女士于二零二一年加入本集
团而彼现在本集团中国大陆子公司的财务部工作。
Biographical Details of Directors and Senior Management
董事及高层管理人员之履历详情
Magnus Concordia Group Limited / 融太集团股份有限公司28
独立非执行董事
王政君先生
王政君先生（「王先生」），
岁，于二零二年
一月二十六日获委任为独立非执行董事、提名
委员会主席、审核委员会和薪酬委员会成员。
王先生自二零二一年至二零二四年一月曾为北
京市东卫律师事务所东卫研究院长。王先生
自二零二四年二月至今为北京平理律师事务所
法律研究院长，主要负责商事诉讼案件、商
事破产案件、公司并购重组专案的谈判、提供
法律意见、法律专业问题研究以及进行法律案
件判例研究。
王先生拥有多年之企业营运及管理经验。于加
盟北京市东卫律师事务所前，王先生自二零
一三年至二零二零年期间任职法律出版社有限
公司，最后职位为副总经理及营销总监。王先
生自二零五年至二零一二年任职中国法律图
书有限公司，最后职位为董事长及总经理。
王先生于一九四年获得中国人民大学经济学
院经济学士学位。彼于二零年获得中国
人民大学法学院硕士研究生学位。
Independent Non-Executive Directors
Mr. Wang Zhengjun
Mr. Wang Zhengjun (“Mr. Wang”), aged 54, was apointed as an
independent non-executive Director, the chairman of the Nomination
Comite and a member of the Audit Comite and the
Remuneration Comite on 26 January 2022. Mr. Wang was the
Dean of the Dongwei Research Institute of Beijing Dongwei Law Firm
from 2021 to January 2024. Since February 2024 Mr. Wang serves
as the Dean of the Law Research Institute of Beijing Pingli Law Firm
and is mainly responsible for negotiating comercial litigation cases,
comercial bankruptcy cases, corporate mergers and acquisitions and
reorganisation, advising legal opinions, research on legal profesional
isues and conducting legal case studies.
Mr. Wang poses years of experience in enterprise operation and
management. Before joining Beijing Dongwei Law Firm, Mr. Wang
served in Law Pres China from 2013 to 2020 and his last position was
the deputy general manager and the sales director. Mr. Wang worked
in China Legal Boks Co., Ltd. from 2005 to 2012 and his last position
was the chairman of the board and the general manager.
Mr. Wang obtained a bachelor’s degre in economics from the Schol
of Economics, Renmin University of China in 1994. He received a
master’s degre from the Law Schol of Renmin University of China in
2000.
Biographical Details of Directors and Senior Management
董事及高层管理人员之履历详情
ANUAL REPORT 2025 • 二零二五年报29
独立非执行董事（续）
廖英顺先生
廖英顺先生（「廖先生」），
岁，于二零二年
十一月二十五日获委任为本公司独立非执行董
事。彼亦为本公司审核委员会成员及主席、提
名委员会成员及薪酬委员会成员。
廖先生于审计及鉴证方面拥有逾
年经验。彼
于二零一七年创办中浦风险管理有限公司（「中
浦」），该公司提供业务咨询、顾问及税务服务，
并自此为中浦的董事。自二零二四年十二月起，
廖先生为飞道旅游科技有限公司（其股份于香
港联合交易所有限公司（「联交所」）上市）（股份
代号：
）的执行董事。自二零二一年八月
起，廖先生为
MI
能源控股有限公司（其股份于
联交所上市）（股份代号：
）的独立非执行
董事。于创办中浦前，廖先生于二零一四年至
二零一六年及二零一零年至二零一二年分别在
罗兵咸永道有限公司担任审计经理及高级助理，
于二零一二年至二零一三年担任
Wong’s Kong
King International (Holdings) Limited
（其股份于联
交所上市）（股份代号：
）的财务经理，并于
二零六年至二零九年担任香港立信浩华会
计师事务所有限公司（该会计师事务所其后被
并入香港立信德豪会计师事务所有限公司）的
财务经理，彼之最后职位为高级助理。廖先生
获得香港岭南大学工商管理学士学位，并自二
零一零年起为香港会计师公会员。
Independent Non-Executive Directors
(Continued)
Mr. Liu Ying Shun
Mr. Liu Ying Shun (“Mr. Liu”), aged 41, was apointed as an
independent non-executive Director on 25 November 2022. He is also
a member and the chairman of the audit comite, a member of the
nomination comite and a member of the remuneration comite
of the Company,
Mr. Liu has more than 16 years of experience in the field of audit and
asurance. He founded Zhong Pu Risk Management Limited (“Zhong
Pu”), a company which provides busines advisory, consultancy and
taxation services in 2017 and has ben a director of Zhong Pu since
then. Since December 2024, Mr. Liu has ben an executive director
of Flydo Technology Holding Limited (the shares of which are listed
on The Stock Exchange) (stock code: 8069). Since August 2021, Mr.
Liu has ben an independent non-executive director of MIE Holdings
Corporation (the shares of which are listed on the Stock Exchange)
(stock code: 1555). Prior to founding Zhong Pu, Mr. Liu worked as an
asurance manager and senior asociate at PricewaterhouseCopers
Limited from 2014 to 2016 and 2010 to 2012, respectively, a finance
manager at Wong’s Kong King International (Holdings) Limited (the
shares of which are listed on the Stock Exchange) (stock code: 532)
from 2012 to 2013, and also at Shu Lun Pan Horwath Hong Kong CPA
Limited (an acounting firm which has ben merged into BDO Limited)
from 2006 to 2009, with his last position as a senior asociate. Mr. Liu
obtained a Bachelor’s Degre in Busines Administration from Lingnan
University in Hong Kong and is a member of the Hong Kong Institute of
Certified Public Acountants since 2010.
Biographical Details of Directors and Senior Management
董事及高层管理人员之履历详情
Magnus Concordia Group Limited / 融太集团股份有限公司30
独立非执行董事（续）
王平先生
王平先生（「王先生」）于二零二四年七月二十日
获委任为本公司独立非执行董事。彼亦为提名
委员会成员，薪酬委员会成员及主席及审核委
员会成员，
王平先生（「王先生」），
岁，毕业于西南财经
大学会计专业课程，持有中国大陆注册会计师、
资产评估师、房地产估价师、土地估价师专业
资格。王先生于一九四年进身审计行业，具
有于会计，财务，审计及资产评估广泛经验。
王先生于二零六年加入四川中衡安信会计师
事务所有限公司，现为董事、副总经理兼自贡
分所长。
Independent Non-Executive Directors
(Continued)
Mr. Wang Ping
Mr. Wang Ping (“Mr. Wang”) was apointed as an independent non-
executive director of the Company on 20 July 2024. He is also a
member of the Nomination Comite, member and chairman of the
Remuneration Comite and member of the Audit Comite.
Mr. Wang Ping (“Mr. Wang”), aged 49, graduated from the South-
West Finance University acounting profesion course in 1994, has
the profesional qualifications as a registered acountant, aset valuer,
realty estate valuer and land valuer in Mainland China. Mr. Wang joined
the audit profesion in 1998, has extensive experience in auditing,
acounting, finance and aset valuation. Mr. Wang joined Sichuan
Zhongheng Anxin Acounting Firm Limited in 2006, is curently the
director, asistant general manager and head of their Zigong ofice
since January 2020.
Biographical Details of Directors and Senior Management
董事及高层管理人员之履历详情
ANUAL REPORT 2025 • 二零二五年报31
高层管理人员
张震修先生（「张先生」）于二零二年八月被任
命为本公司的首席财务官。他负责集团的财务
管理和资金管理职能，并在企业治理合规方面
充当集团内部审计、内部控制和风险管理职能
的协调人。
张先生拥有工商管理学士学位（会计专业）并为
香港会计师公会员。他在财务管理、会计和
审计方面拥有超过
年的经验，专项包括首次
公开募股和并购。张先生曾在多家国际会计事
务所工作，其中在德勤
•
关黄陈方会计师行工
作了
年。
Senior Management
Mr. Cheung Chun Sau Conrad (“Mr. Cheung”) was apointed as
the Chief Financial Oficer of the Company in August 2022. He is
responsible for the financial management and treasury functions of
the Group and acts as the cordinator for the internal audit, internal
control, and risk management functions of the Group in relation to
corporate governance compliance.
Mr. Cheung holds a Bachelor’s degre in Busines Administration in
Acountancy and is a member of the Hong Kong Institute of Certified
Public Acountants. He has over 10 years of experience in financial
management, acounting and auditing, including specialties in Initial
Public Oferings and mergers and acquisitions. Mr. Cheung has
worked for several international acounting firms, with a 7-year tenure
at Deloite Touche Tohmatsu.
Corporate
Governance
Report
企业管治报告
Corporate Governance Report
企业管治报告
ANUAL REPORT 2025 • 二零二五年报33
Introduction
The Company is comited to achieving a high standard of corporate
governance that properly protects and promotes the interests of its
shareholders.
The Company has aplied the principles set out in the “Corporate
Governance Code (the “CG Code”) as contained in Apendix C1 to the
Rules Governing the Listing of Securities (the “Listing Rules”) on the
Stock Exchange.
The Board is of the view that throughout the year ended 31 March
2025, the Company has complied with the code provisions set out in
the CG Code.
Linkage betwen corporate governance and
environment, social and governance
Corporate governance can be considered as the framework within
which the Board forms their decisions and develop their busineses.
The Board’s focus is on creating long-term sustainable growth for the
shareholders and delivering long-term values to the stakeholders.
An efective corporate governance structure alows the Group to
have a beter understanding of, evaluate and manage risks, including
environment, social and governance (“ESG”) risks. The Board is
responsible for seting strategic objectives for risk management,
implementing risk management values, evaluating and aproving risk
management policies, ensuring efective and adequacy of the risk
management system.
For the principal risks faced by the Group’s busines, please refer to
“Principal Risks and Uncertainties” set out in section “Management
Discusion and Analysis” of this anual report.
For the details of environmental, social and governance maters for the
year ended 31 March 2025, please refer to the “Environmental, Social
and Governance Report” as set out on pages 73 to 122 of this anual
report.
绪言
本公司致力达到高水平之企业管治，以妥善维
护及提升其股东之权益。
本公司已应用联交所证券上市规则（「上市规则」）
附录
C1
所载企业管治守则（「企业管治守则」）之
原则。
董事会认为本公司于截至二零二五年三月
三十一日止年度一直遵守企业管治守则所载之
守则条文。
企业管治与环境、社会及管治报告
之间的联系
企业管治可说是董事会制定决策及发展业务的
框架。董事始终专注为股东创造长期可持续增
长，并为持份者创造长期价值。
有效的企业管治架构有助本集团了解、评估及
管理风险，包括：环境、社会及管治（「
ESG
」）
风险。董事会负责设定风险管理的战略目标、
贯彻风险管理价值观、评估及批准风险管理政
策、确保风险管理系统的有效及充分性。
有关本集团面对的重要风险，请参阅列载于本
年报管理层讨论与分析的「重要风险及不明朗
因素」。
有关截至二零二五年三月三十一日止年度的环
境、社会及管治事宜，请参阅已载于本年报第
至
页之「环境、社会及管治报告」。
Corporate Governance Report
企业管治报告
Magnus Concordia Group Limited / 融太集团股份有限公司34
(A) The Board
The Board is responsible for overseing the busines and
strategies of the Group with the objective of enhancing value
for its shareholders. The Board determines busines plans and
budgets, regularly reviews the Group’s financial performance
and monitors the Group’s management. To cultivate god
governance, the Board also reviews the Group’s operation and
policies from time to time.
(i) Board Composition
The composition of the Board is wel balanced with each
Director having sound knowledge, experience and/or
expertise relevant to the busines of the Group. The Board
has on a regular basis reviewed the composition of the
Board and the skils and experience required for both the
executive and non-executive Directors, in the context of the
busines and strategies of the Group.
The composition of the Board as at 31 March 2025 and up
to the date of this anual report were as folows:
NamesPositions
姓名职衔
Mr. Xiang Jun (apointed on 1 February 2025)Executive Director
向均先生（于二零二五年二月一日获委任）执行董事
Ms. Zhou Lan (apointed on 1 September 2024)Executive Director
�兰女士（于二零二四年九月一日获委任）执行董事
Mr. Wang ZhengjunIndependent non-executive director
王政君先生独立非执行董事
Mr. Liu Ying ShunIndependent non-executive director
廖英顺先生独立非执行董事
Mr. Wang Ping (apointed on 20 July 2024)Independent non-executive director
王平先生（于二零二四年七月二十日获委任）独立非执行董事
Ms. Mou Li (resigned on 1 February 2025)
Executive Director
牟莉女士（于二零二五年二月一日辞任） 执行董事
Mr. Liang Fan (resigned on 1 September 2024)
Executive Director
梁繁先生（于二零二四年九月一日辞任） 执行董事
Mr. Xu Jianfeng (resigned on 20 July 2024)
Independent non-executive director
徐健锋先生（于二零二四年七月二十日辞任） 独立非执行董事
Biographical details of each of the present Directors are set
out in the section headed “Biographical Details of Directors
and Senior Management” of this anual report. None of the
existing members of the Board nor the senior management
of the Company is related to one another.
(A)
董事会
董事会负责监督本集团之业务及策略，旨
在为其股东增值。董事会厘定业务计划及
预算、定期审阅本集团财务表现及监督本
集团管理工作。为树立良好管治，董事会
亦不时检讨本集团的营运及政策。
(i)
董事会成员组合
董事会结构均衡，而每名董事均具
备与本集团业务相关之丰富知识、
经验及╱或专业知识。董事会因应
本集团之业务及策略定期检讨董事
会之成员组合和担任执行及非执行
董事所要求之技能及经验。
于二零二五年三月三十一日
及直至本年报日期，董事会成员的
组合如下：
各现任董事之履历详情载于本年报
「董事及高层管理人员之履历详情」
一节。本公司董事会现有成员及高
层管理人员与其他成员并无关连。
Corporate Governance Report
企业管治报告
ANUAL REPORT 2025 • 二零二五年报35
(A)
董事会（续）
(i)
董事会成员组合（续）
王平先生（「王先生」）（于二零二四年
七月二十日获委任为董事）已于二零
二四年七月十九日取得上市规则第
3.09D
条所述的意见；周兰女士（「周
女士」）（于二零二四年九月一日获委
任为董事）已于二零二四年八月三十
日取得第
3.09D
条所述的意见；向均
先生（「向先生」）（于二零二五年二月
一日获委任为董事）已于二零二五年
一月二十八日取得第
3.09D
条所述
的意见。王先生、周女士及向先生
确认彼等了解其作为董事的责任。
(i)
董事会议
本公司已于董事会议举行前作好
安排，确保每位董事获发充分之通
知及充足之资料。本公司之公司秘
书及高层管理人员协助董事编制会
议程并确保遵守所有适用规则及
规例。于适当情况下或在提出要求
后，各董事于履行彼等之职责时能
够取得独立专业意见，有关费用由
本公司支付。
董事会及委员会议记录保存详尽
资料，以反映有关会议所作出之决
定并可供董事查阅。
董事会每年最少举行四次定期会议。
董事会可于有需要时召开特别会议。
董事会于回顾年度举行十三次会议。
下表载列回顾年度董事会及其委员
会举行会议之次数、每位董事会及
委员会成员出席该等会议及股东周
年大会（「股东周年大会」）之出席率。
(A) The Board (Continued)
(i) Board Composition (Continued)
Mr. Wang Ping (“Mr. Wang”), who was apointed as a
Director on 20 July 2024, obtained the advice refered to
in Rule 3.09D of the Listing Rules on 19 July 2024; Ms.
Zhou Lan (“Ms. Zhou”), who was apointed as a Director
on 1 September 2024, obtained the advice refered to in
Rule 3.09D on 30 August 2024; and Mr. Xiang Jun (“Mr.
Xiang”), who was apointed a Director on 1 February 2025,
obtained the advice refered to in Rule 3.09D on 28 January
2025. Mr. Wang, Ms. Zhou and Mr. Xiang confirmed that
they understod their obligations as a Director.
(i) Board Metings
Arangements were in place to ensure that suficient notice
and adequate information were given to each Director prior
to the Board metings. The Company’s company secretary
and senior management asist the Directors in preparing
the agenda for metings and ensure that al aplicable
rules and regulations are complied with. The Directors are
able to sek independent profesional advice in performing
their duties at the Company’s expense in apropriate
circumstances or upon their request.
Minutes of Board and comites metings were kept
in suficient details to reflect the decisions made in the
relevant metings and were available for inspection by the
Directors.
Regular Board metings are held at least four times a year.
Special meting of the Board wil be convened whenever
necesary. The Board has held thirten metings during
the year under review. The table below sets out the number
of metings of the Board and its comites, individual
atendance by the Board and comite members at these
metings and the anual general meting (the “AGM”)
during the year under review.
Corporate Governance Report
企业管治报告
Magnus Concordia Group Limited / 融太集团股份有限公司36
(A)
董事会（续）
(i)
董事会议（续）
每位董事年内之董事会议出席记
录如下：
附注：
1.
守则条文第
C.2.7
条规定董事会主席（「主
席」）须至少每年与独立非执行董事举
行一次会议，且并无其他董事出席。年
内，由于本公司主席及行政总裁之职务
由执行董事共同履行，牟莉女士充当主
席角色与独立非执行董事举行一次会
议。董事会认为本公司已遵守则条文
第
C.2.7
条。
(A) The Board (Continued)
(i) Board Metings (Continued)
The atendance record of each Director at Board metings
held during the year is as folows:
Name of Directors
Board
Metings
Nomination
Comite
Meting
Remuneration
Comite
Metings
Audit
Comite
MetingsAGM
Chairman and
Independent
Non-executive
Directors
Meting
董事姓名
董事会
会议
提名委员会
会议
薪酬委员会
会议
审核委员会
会议
股东周年
大会
主席及
独立非执行
董事会议
Number of meting(s) atended/held
出席╱举行会议次数
Executive Directors
执行董事
Mr. Xiang Jun
向均先生
0/00/00/0N/A
不适用
0/00/0
Ms. Zhou Lan
周兰女士
2/2N/A
不适用
N/A
不适用
N/A
不适用
0/0N/A
不适用
Ms. Mou Li
牟莉女士
4/43/33/3N/A
不适用
1/11/1
Mr. Liang Fan
梁繁先生
2/2N/A
不适用
N/A
不适用
N/A
不适用
1/1N/A
不适用
Independent Non-executive
Directors
独立非执行董事
Mr. Wang Zhengjun
王政君先生
5/54/44/42/21/11/1
Mr. Liu Ying Shun
廖英顺先生
5/54/44/42/21/11/1
Mr. Wang Ping
王平先生
3/32/22/21/11/10/0
Mr. Xu Jianfeng
徐健锋先生
1/11/11/11/10/01/1
Note:
1. Code provision C.2.7 stipulates that the chairman of the Board
(the “Chairman”) should at least anualy hold metings with the
independent non-executive directors without the presence of other
directors. Since the roles of the Company’s Chairman and chief
executive oficer have ben performed by the executive Directors on
a colective basis, Ms. Mou Li served the role of Chairman to hold
a meting with the independent non-executive Directors during the
year. The Board believes that the Company has complied with the
code provision C.2.7.
Corporate Governance Report
企业管治报告
ANUAL REPORT 2025 • 二零二五年报37
(A)
董事会（续）
(i)
主席及行政总裁
企业管治守则之守则条文第
C.2.1
条
订明，主席与行政总裁之职务应有
所区分，且不应由同一人兼任。
年内，本公司主席及行政总裁之职
务由执行董事共同履行。
董事会认为上述安排为本公司提供
灵活性，有助有效及高效地规划及
执行业务决策与策略。董事会亦认
为上述安排并无削弱董事会与本公
司管理层权责间的平衡。董事会将
不时检讨现有制度并作出适当更改
（如需要）。
(iv)
董事之委任、重选及罢免
董事的委任、重选及罢免的程序及
过程乃载于本公司组织章程细则。
根据本公司组织章程细则及上市规
则，于各股东周年大会上，当时三
分之一之董事（包括有指定任期的董
事）（或倘并非为三或为三的倍数，
则为最接近之数目，但不超过三分
之一）须轮值告退，惟所有董事须于
不迟于彼最后获选或重选后本公司
第三届股东周年大会上轮值退任。
此外，任何获委任以填补临时空缺
或加入董事会的新增董事的任期仅
直至其获委任后之首届股东大会并
符合资格重选连任。所有退任董事
均符合资格由股东于有关股东大会
上重选连任。
所有独立非执行董事的初步任期为
两年，并须如上文所述轮值告退。
(A) The Board (Continued)
(i) Chairman and Chief Executive Oficer
Code provision C.2.1 of the CG Code stipulates that the
roles of Chairman and Chief Executive Oficer should
be separate and should not be performed by the same
individual.
During the year, the roles of the Company’s Chairman
and chief executive oficer have ben performed by the
executive Directors on a colective basis.
The Board believes that the aforesaid arangement
provided the Company with flexibility and alowed for
efective and eficient planing and implementation
of busines decisions and strategies. The Board also
considers that the above-mentioned arangement did not
impair the balance of power and authority betwen the
Board and the management of the Company. The Board
wil review the curent practice from time to time and make
apropriate changes if necesary.
(iv) Apointment, Re-election and Removal of
Directors
The procedures and proces of the apointment, re-
election and removal of Directors are laid down in the
Company’s Articles of Asociation. In acordance with the
Company’s Articles of Asociation and the Listing Rules,
at each anual general meting, one-third of the Directors,
including those apointed for a specific term, for the time
being, or, if their number is not thre or a multiple of thre,
then the number nearest to, but not exceding, one-
third, shal retire from ofice by rotation, provided that al
the Directors are subject to retirement by rotation no later
than the third anual general meting of the Company
after he/she was last elected or re-elected. Besides, any
new Director apointed to fil a casual vacancy or as an
adition to the Board shal hold ofice only until the first
general meting after apointment and are eligible for re-
election. Al retiring Directors are eligible for re-election by
the shareholders at the respective general metings.
Al independent non-executive Directors are apointed for
an initial term of two years, subject to retirement by rotation
as aforesaid.
Corporate Governance Report
企业管治报告
Magnus Concordia Group Limited / 融太集团股份有限公司38
(A)
董事会（续）
(v)
提名委员会
本公司已成立提名委员会（「提名委
员会」）及订定其明确职权范围。提
名委员会之主要职责包括定期检讨
董事会组成、本公司董事会的多元
化政策（「董事会多元化政策」）及本
公司提名政策（「提名政策」）并向董
事会提出任何修改建议供其审批及
评核独立非执行董事的独立性。
提名委员会成员包括一位执行董事
向均先生及三名独立非执行董事王
政君先生，廖英顺先生及王平先生，
王政君先生为提名委员会主席。
年内提名委员会履行的工作概述如
下：
—
检讨董事会之架构、规模、组
成及多元化；
—
考虑于本公司二零二四年股东
周年大会上就重选退任董事并
向董事会作出推荐建议；
—
评估每位独立非执行董事之独
立性；及
—
审阅提名委员会职权范围、提
名政策及董事会多元化政策。
提名委员会已于年内举行两次会议。
提名委员会认为董事会的多元化观
点维持了适当的平衡，并将继续实
现可衡量的目标以实施董事会多元
化政策。提名委员会成员出席会议
之记录载于「董事会」一节项下之表
格。
(A) The Board (Continued)
(v) Nomination Comite
A nomination comite was established by the Company
(the “Nomination Comite”) with clear terms of reference.
The principal responsibilities of the Nomination Comite
include reviewing the Board composition, a board diversity
policy of the Company (the “Board Diversity Policy”) and a
nomination policy of the Company (the “Nomination Policy”)
on a regular basis, recomending any proposed changes
to the Board for aproval, and asesing the independence
of the independent non-executive Directors.
The Nomination Comite comprises one executive
Director, Mr. Xiang Jun, and thre independent non-
executive Directors, Mr. Wang Zhengjun, Mr. Liu Ying Shun
and Mr. Wang Ping, with Mr. Wang Zhengjun acting as the
chairman of the Nomination Comite.
During the year, the work performed by the Nomination
Comite is sumarized as folows:
— reviewed the structure, size, composition and
diversity of the Board;
— considered and recomended to the Board on the
re-election of the retiring Directors at the Company’s
2024 anual general meting;
— asesed the independence of each independent
non-executive Director; and
— reviewed the terms of reference for the Nomination
Comite, the Nomination Policy and the Board
Diversity Policy.
The Nomination Comite held two metings during
the year. The Nomination Comite considered that an
apropriate balance of diversity perspectives of the Board
is maintained and wil continue to achieve the measurable
objective to implement the Board Diversity Policy. The
atendance record of the members at the Nomination
Comite meting is set out in the table under “The
Board” section.
Corporate Governance Report
企业管治报告
ANUAL REPORT 2025 • 二零二五年报39
(A)
董事会（续）
(vi)
提名政策
提名政策已于二零一九年一月获采
纳。根据提名政策，提名委员会于
评估候选人时应考虑（其中包括）以
下因素：
(a)
诚信；
(b)
候选人可为董
事会各方面带来的资历、技能、经
验及独立性；
(c)
承诺投入足够时间，
代表相关界别的利益及关注本公司
的业务；及
(d)
董事会多元化政策。
提名委员会可决定提名任何其认为
适当的人士。候选人将会被要求提
交所需的个人资料，连同其同意获
委任为董事及公开披露其个人资料
同意书，以示同意就有关提名或根
据适用法律及规例的要求，在任何
文件或相关网站公开披露其个人资
料。如果认为有必要，提名委员会
可要求候选人提供额外的资料及文
件。提名政策于本公司网站可供查阅。
(vi)
董事会多元化
本公司致力确保董事会具备所需的
适当技巧、知识、经验及多元观点，
以支持执行公司业务策略，进而实
现可持续及均衡发展。
(A) The Board (Continued)
(vi) Nomination Policy
The Nomination Policy was adopted in January 2019. In
acordance with the Nomination Policy, the Nomination
Comite shal consider, among other things, the
folowing factors in asesing the suitability of a proposed
candidate: (a) reputation for integrity; (b) qualifications,
skils, experience and independence that the candidate
can bring to the Board in al its aspects; (c) comitment
in respect of suficient time, interest and atention to the
Company’s busines; and (d) the Board Diversity Policy.
The Nomination Comite has discretion to nominate any
person, as it considers apropriate. Proposed candidates
wil be asked to submit the necesary personal information,
together with their writen consent to be apointed as a
director and to the public disclosure of their personal data
on any documents or relevant websites in relation to their
nomination or otherwise pursuant to aplicable legal and
regulatory requirements. The Nomination Comite may
request candidates to provide aditional information and
documents, if considered necesary. The Nomination
Policy is available on the website of the Company.
(vi) Board Diversity
The Company endeavours to ensure that the Board has
the apropriate balance of skils, knowledge, experience
and diversity of perspectives that are required to suport
the execution of its busines strategy for sustainable and
balanced development.
Corporate Governance Report
企业管治报告
Magnus Concordia Group Limited / 融太集团股份有限公司40
(A)
董事会（续）
(vi)
董事会多元化（续）
董事会多元化政策于二零一三年九
月获采纳并于二零一九年一月修订。
提名委员会获授权（其中包括）检讨
及评估董事会多元化，并就委任或
重新委任董事推荐适当候选人予董
事会。在设定董事会成员组成时，
提名委员会须考虑多项因素，包括
但不限于性别、年龄、文化、教育
背景、专业经验及技能，并考虑本
公司自身业务模式及实际需要的因
素。提名委员会须不时检讨及评估
董事会的架构、规模及组成，并于
充分考虑董事会多元化政策之情况
下就落实多元化适时向董事会提出
建议。
候选人之甄选将根据提名政策及董
事会多元化政策进行。最终决定应
在适当考虑董事会多元化的裨益后，
根据客观标准及候选人将为董事会
带来之贡献按用人惟才基准作出。
本公司重视性别多元化，并将继续
采取措施在本公司各级（包括但不限
于董事会及高级管理层）促进性别多
元化，以提升我们整体企业管治的
有效性。考虑到我们现有的业务模
式以及董事的背景和经验，提名委
员会认为董事会的组成符合董事会
多元化政策。董事会多元化政策可
于本公司网站查阅。
本公司的可衡量目标是实现不少于
六分之一的董事会由女性组成，并
且不少于三分之一的我们的员工（包
括高级管理人员）由女性组成。
截至二零二五年三月三十一日，五
分之一的董事会成员由女性组成，
而我们大约二分之一的员工（包括高
级管理人员）由女性组成。
(A) The Board (Continued)
(vi) Board Diversity (Continued)
The Board Diversity Policy was adopted in September 2013
and revised in January 2019. The Nomination Comite
is delegated the authority, amongst other things, to review
and ases the diversity of the Board and recomend
suitable candidate to the Board on the apointment or
re-apointment of directors. In designing the Board’s
composition, the Nomination Comite shal consider a
number of factors, including but not limited to gender, age,
cultural, educational background, profesional experience
and skils and shal also take into acount factors based on
the Company’s own busines model and specific neds.
The Nomination Comite shal review and ases the
structure, size, composition of the Board from time to time
and make recomendations to the Board for implementing
diversity with adequate consideration of the Board Diversity
Policy as apropriate.
The selection of candidates wil be based on the
Nomination Policy and the Board Diversity Policy. The
ultimate decision shal be based on a merit basis against
objective criteria and contribution that the candidate wil
bring to the Board. The Company values gender diversity
and wil continue to take steps to promote gender diversity
at al levels of our Company, including but without limitation
at the Board and senior management levels, to enhance
the efectivenes of our corporate governance as a whole.
Taking into acount of our existing busines model and
the background and experience of our Directors, the
Nomination Comite considered that the composition of
the Board satisfies the Board Diversity Policy. The Board
Diversity Policy is available on the website of the Company.
The Company’s measurable objective is to achieve not
les than one-sixth of the Board comprising of females and
not les than one-third of our workforce (including senior
management) comprising of females.
As at 31 March 2025, there is one-fifth of the Board
members comprising of females while there is about
one-half of our workforce (including senior management)
comprising of females.
Corporate Governance Report
企业管治报告
ANUAL REPORT 2025 • 二零二五年报41
(A)
董事会（续）
(vi)
董事之责任
每位董事均须充分了解其作为董事
之责任，并会按时收到有关本集团
之资料，以便其在知情之情况下作
出决定和履行作为董事之职责及责
任。新获委任之董事将透过全面之
简介得知本集团之业务。董事确保
彼等对本公司事务给予足够的时间
及关注。本公司就对董事提呈之法
律行动投购适当保险。
(ix)
董事及有关雇员进行证券交
易
本公司已采纳上市规则附录
C3
所载
「上市发行人董事进行证券交易的标
准守则」（「标准守则」）作为董事进行
本公司证券交易的行为守则。为回
应本公司作出之特别查询，全体董
事确认彼等于截至二零二五年三月
三十一日止年度一直遵守标准守则
所订之规定标准。
本公司亦制定书面指引并采纳标准
守则（统称「指引」）以规管可能拥有
本公司内幕消息及╱或其证券之有
关雇员进行之证券交易。本公司并
无获悉任何有关雇员违反指引之事件。
(A) The Board (Continued)
(vi) Responsibilities of Directors
Each Director is required to kep abreast of his/her
responsibilities as a Director and each Director is provided
in a timely maner with apropriate information of the
Group to enable him/her to make an informed decision
and to discharge his/her duties and responsibilities as
a Director. On apointment, new Director wil be given
a comprehensive induction to the Group’s busines.
Directors ensure that they give suficient time and atention
to the Company’s afairs. Apropriate insurance coverage
in respect of legal action against the Directors is aranged
by the Company.
(ix) Directors’ and Relevant Employes’
Dealings in Securities
The Company has adopted the model code for securities
transactions by directors of listed isuers (the “Model
Code”) as set out in Apendix C3 to the Listing Rules as
the Company’s code of conduct for dealings in securities
of the Company by the Directors. In response to specific
enquiries by the Company, al the Directors confirmed that
they have complied with the required standard set out
in the Model Code throughout the year ended 31 March
2025.
The Company has also established writen guidelines and
adopted the Model Code (colectively, the “Guidelines”)
to govern securities transactions by employes who are
likely to poses inside information of the Company and/
or its securities. No incident of non-compliance with
the Guidelines by relevant employes was noted by the
Company.
Corporate Governance Report
企业管治报告
Magnus Concordia Group Limited / 融太集团股份有限公司42
(A)
董事会（续）
(x)
独立非执行董事之独立性
为了确保独立非执行董事的独立意
见和投入能够提供给董事会，提名
委员会和董事会致力于每年就与独
立非执行董事有关的所有相关因素
评估董事的独立性，包括以下内容。
•
具备履行其职责所需的品格、
正直、专业知识、经验和稳定
性；
•
对公司事务投入的时间和关注；
•
对他们的独立角色和对董事会
的坚定承诺；
•
声明其作为独立非执行董事的
利益冲突；
•
跨董事职位或与其他董事有重
要联系；
•
没有参与公司的日常管理，也
没有参与任何会影响其独立判
断的关系或情况；
•
进一步重新任命独立非执行董
事（包括长期任职的独立非执
行董事）须以单独决议案获得
股东批准；和
•
一名指定的董事担任主席的角
色，定期与独立非执行董事会
面。
本公司已收到各独立非执行董事（即
廖英顺先生、王平先生及王政君先
生）根据上市规则第
3.13
条之年度独
立确认书。
(A) The Board (Continued)
(x) Independence of Independent Non-
executive Directors
In order to ensure that independent views and input of the
Independent Non-executive Directors are made available
to the Board, the Nomination Comite and the Board
are comited to asesing the Directors’ independence
anualy with regards to al relevant factors related to
the Independent Non-executive Directors including the
folowing:
- , integrity, expertise, experience
and stability to fulfil their roles;
- ’s
afairs;
• firm comitment to their independent roles and to
the Board;
• declaration of conflict of interest in their roles as
Independent Non-executive Directors;
• cros directorships or significant links with other
Directors;
• no involvement in the daily management of the
Company nor in any relationship or circumstances
which would afect the exercise of their independent
judgement;
• further reapointment of an Independent Non-
executive Director (including the long-serving
Independent Non-executive Director) is subject
to a separate resolution to be aproved by the
shareholders; and
• a designated director served as role of Chairman to
met with the Independent Non-executive Directors
regularly.
The Company has received, from each of the independent
non-executive Directors, namely Mr. Liu Ying Shun, Mr.
Wang Ping and Mr. Wang Zhengjun, an anual confirmation
of his independence pursuant to Rule 3.13 of the Listing
Rules.
Corporate Governance Report
企业管治报告
ANUAL REPORT 2025 • 二零二五年报43
(A)
董事会（续）
(x)
独立非执行董事之独立性
（续）
根据上市规则所载之独立指引，本
公司视其所有独立非执行董事为独
立人士。
提名委员会和董事会也考虑了独立
非执行董事各自对董事会的贡献和
其对独立角色的坚定承诺。
丰富的知识和丰富的经验使每位独
立非执行董事成为董事会的宝贵成
员和积极贡献者。此外，他们并无
担任何跨董事职务，或因参与其
他公司或机构而与其他董事有任何
重大联系，已可能导致其作为独立
非执行董事的角色出现利益冲突，
并且他们不参与公司的日常事务，
也没有任何会影响其独立判断的关
系或情况。他们继续展示他们对公
司事务提供独立、平衡和客观点
的能力。
提名委员会信纳各独立非执行董事
具备履行独立非执行董事角色所需
的品格、诚信及经验。
(A) The Board (Continued)
(x) Independence of Independent Non-
executive Directors (Continued)
The Company considers al of the independent non-
executive Directors are independent in light of the
independence guidelines set out in the Listing Rules.
The Nomination Comite and the Board have also taken
into acount the respective contributions to the Board of
the Independent Non-executive Directors and their firm
comitments to their independent roles.
The wide breath of knowledge and diversity of their
experiences make each of the Independent Non-executive
Directors invaluable members of, and active contributors,
to the Board. Moreover, they do not hold any cros-
directorships or have any significant links with other
Directors through involvement in other companies or
bodies that could give rise to conflicts of interest in their
roles as Independent Non-executive Directors and they are
not involved in the daily management of the Company nor
in any relationships or circumstances which would afect
the exercise of their independent judgment. They continue
to demonstrate their ability to provide an independent,
balanced and objective view to the afairs of the Company.
The Nomination Comite was satisfied that each of
the Independent Non-executive Director has the required
character, integrity and experience to fulfil the role of an
independent non-executive Director.
Corporate Governance Report
企业管治报告
Magnus Concordia Group Limited / 融太集团股份有限公司44
(A)
董事会（续）
(xi)
董事之培训
根据企业管治守则之守则条文第
C.1.4
条，所有董事均须参与持续专
业发展，以发展及更新其知识及职
能，确保在服务董事会时能掌握充
分及相关之资讯。本公司须负责安
排及资助培训，并对董事之角色、
职能及职责予以适当之重视。
本年度，本公司因应董事之职责及
职务为彼等安排研讨会及提供阅读
资料。以下为本公司接到有关每位
董事之培训记录概要：
(A) The Board (Continued)
(xi) Directors’ Training
Acording to code provision C.1.4 of the CG Code, al
Directors should participate in continuous profesional
development to develop and refresh their knowledge
and skils to ensure that their contribution to the Board
remains informed and relevant. The Company should be
responsible for aranging and funding training, placing an
apropriate emphasis on the roles, functions and duties of
the Directors.
During the year, the Company had aranged seminars and
provided reading materials to the Directors that are relevant
to their duties and responsibilities. A sumary of the
training record of each Director received by the Company
is as folows:
Atending
briefings/
seminars/
conferences/
forums
Reading/
studying
training or
other
materials
Name of Directors
董事姓名
出席简介会╱
研讨会╱
会议╱论坛
阅读╱学习
培训或
其他材料
Executive Directors
执行董事
Mr. Xiang Jun (apointed on
1 February 2025)
向均先生（于二零二五年
二月一日获委任）
✓
Ms. Zhou Lan (apointed on
1 September 2024)
�兰女士（于二客二四年
九月一日获委任）
✓
Ms. Mou Li (resigned on
1 February 2025)
牟莉女士（于二零二五年
二月一日辞任）
N/A
不适用
N/A
不适用
Mr. Liang Fan (resigned on
1 September 2024)
梁繁先生（于二零二四年
九月一日辞任）
N/A
不适用
N/A
不适用
Independent non-executive
directors
独立非执行董事
Mr. Wang Zhengjun
王政君先生
✓
Mr. Liu Ying Shun
廖英顺先生
✓
Mr. Wang Ping (apointed on
20 July 2024)
王平先生（于二零二四年
七月二十日获委任）
✓
Mr. Xu Jianfeng (resigned on
20 July 2024)
徐健锋先生（于二零二四年
七月二十日辞任）
N/A
不适用
N/A
不适用
Corporate Governance Report
企业管治报告
ANUAL REPORT 2025 • 二零二五年报45
(B)
董事及高层管理人员之薪酬
(i)
董事及高层管理人员之薪酬
政策
本集团之薪酬政策寻求给予公平之
市值薪酬，以招揽、保留及激励优
秀之员工。本集团所厘定之薪酬水
平将确保可与聘用相若职能人才之
公司作出比较及竞争。
有关费用及其他董事酬金乃参考彼
等于本公司之职责及职务以及业内
之薪酬标准及现行市况厘定。
(i)
薪酬委员会
本公司已成立薪酬委员会（「薪酬委
员会」）及订定其明确之职权范围，
此委员会主要负责就本公司全体董
事及高层管理人员之薪酬政策及结
构、本公司确立正式及具透明度之
薪酬政策制定程序及执行董事及高
层管理人员的薪酬组合以及非执行
董事之薪酬向董事会作出推荐建议。
薪酬委员会担当董事会顾问之角色，
董事会保留核准董事及高层管理人
员薪酬组合之最终权力（即已采纳企
业管治守则之第
E.1.2(c)
条守则条文
所订之第
(c)(i)
项标准）。
薪酬委员会成员包括一位执行董事
向均先生及三位独立非执行董事王
平先生、廖英顺先生及王政君先生，
王平先生担任薪酬委员会主席。
(B) Remuneration of Directors and Senior
Management
(i) Remuneration Policy of Directors and
Senior Management
The Group’s remuneration policy seks to provide a fair
market remuneration so as to atract, retain and motivate
high quality staf. The Group wil set levels of remuneration
to ensure comparability and competitivenes with
companies competing within a similar talent pol.
Such fes and the amounts of emolument of the other
Directors are determined by reference to their duties and
responsibilities within the Company, the remuneration
benchmark in the industry and the prevailing market
conditions.
(i) Remuneration Comite
A remuneration comite was established by the
Company (the “Remuneration Comite”) with clear
terms of reference and is primarily responsible for making
recomendations to the Board on the Company’s
remuneration policy and structure of al Directors’ and
senior management’s remuneration, on the Company’s
establishment of a formal and transparent procedure for
developing remuneration policy, on the remuneration
packages of executive Directors and senior management,
and on the remuneration of non-executive Directors. The
Remuneration Comite performs an advisory role to
the Board with the Board retaining the final authority to
aprove the remuneration packages of Directors and senior
management (i.e. the model (c)(i) as stipulated in code
provision E.1.2(c) of the CG Code is adopted).
The Remuneration Comite comprises one executive
Director, Mr. Xiang Jun, and thre independent non-
executive Directors, Mr. Wang Ping, Mr. Liu Ying Shun
and Mr. Wang Zhengjun, with Mr. Wang Ping acting as the
chairman of the Remuneration Comite.
Corporate Governance Report
企业管治报告
Magnus Concordia Group Limited / 融太集团股份有限公司46
(B)
董事及高层管理人员之薪酬
（续）
(i)
薪酬委员会（续）
本年度，薪酬委员会进行之工作概
述如下：
—
检讨薪酬待遇及执行董事之补
充服务协议并向董事会作出推
荐意见以供批准；
—
依据董事会所订之企业目标及
宗旨检讨本集团之薪酬政策及
管理层之薪酬建议；及
—
审阅上市规则第十七章所述有
关股份计划事宜。
薪酬委员会已于年内举行一次会议。
薪酬委员会成员之出席记录载于「董
事会」一节项下表格内。
(i)
高层管理人员薪酬
根据企业管治守则之守则条文第
E.1.5
条，截至二零二五年三月
三十一日止年度高层管理人员之年
度酬金组别载列如下：
截至二零二五年三月三十一日止年
度，各董事之酬金详情载于综合财
务报表附注
。
(B) Remuneration of Directors and Senior
Management (Continued)
(i) Remuneration Comite (Continued)
During the year, the work performed by the Remuneration
Comite is sumarized as folows:
— reviewed the remuneration package and the
suplemental service agrements of the executive
Directors and recomended to the Board for
aproval;
— reviewed the remuneration policy of the Group
and the management’s remuneration proposals
with reference to the Board’s corporate goals and
objectives; and
— reviewed maters relating to share schemes under
Chapter 17 of the Listing Rules.
The Remuneration Comite held one meting during
the year. The atendance record of the members at the
Remuneration Comite meting is set out in the table
under “The Board” section.
(i) Remuneration of Senior Management
Pursuant to code provision E.1.5 of the CG Code,
the anual remuneration of the members of the senior
management by band for the year ended 31 March 2025 is
set out below:
Number of
individuals
Remuneration band (HK$)
酬金组别（港元）人数
Nil to 1,000,000
零至
1,000,0002
Details of the remuneration of each Director for the year
ended 31 March 2025 are set out in note 15 to the
consolidated financial statements.
Corporate Governance Report
企业管治报告
ANUAL REPORT 2025 • 二零二五年报47
(C)
问责及审核
(i)
财务报告
董事确认其须负责编制本集团中期
报告及年报内之综合财务报表，并
就本集团之表现、状况及前景提呈
一份公正、清晰及全面之评估。
本公司独立核数师就审核本集团综
合财务报表承担之责任载于本年报
第
至
页之「独立核数师报告」。
(i)
审核委员会
本公司已成立审核委员会（「审核委
员会」）及订定其明确之职权范围。
审核委员会的主要职责为审阅本集
团的财务资料及报告并审议本集团
财务主管或独立核数师提出的任何
重大或不寻常项目后提呈予董事会；
检讨及监察本集团财务报告程序及
其财务监控、风险管理及内部监控
系统；及检讨与独立核数师的关系
及独立核数师聘任条款并向董事会
作出相关建议。
(C) Acountability and Audit
(i) Financial reporting
The Directors acknowledge that it is their responsibility
to prepare the consolidated financial statements and to
present a balanced, clear and comprehensive asesment
of the performance, position and prospects of the Group in
the interim and anual reports of the Group.
The responsibilities of the Company’s independent auditor
for the audit of the consolidated financial statements of the
Group is set out in the “Independent Auditor’s Report” on
pages 142 to 145 of this anual report.
(i) Audit Comite
An audit comite was established by the Company
(the “Audit Comite”) with clear terms of reference.
The principal duties of the Audit Comite are reviewing
the financial information and reports of the Group and
considering any significant or unusual items raised by
the financial oficers of the Group or independent auditor
before submision to the Board; reviewing and supervising
the Group’s financial reporting proces and its financial
control, risk management and internal control systems,
and reviewing the relationship with and the terms of
apointment of the independent auditor and making
relevant recomendation to the Board.
Corporate Governance Report
企业管治报告
Magnus Concordia Group Limited / 融太集团股份有限公司48
(C)
问责及审核（续）
(i)
审核委员会（续）
现任审核委员会成员为三位独立非
执行董事廖英顺先生、王平先生及
王政君先生，廖英顺先生担任审核
委员会主席。
于本年度，审核委员会进行之工作
概述如下：
—
与董事及核数师审阅本集团采
纳之相关会计原则及惯例；
—
检讨财务监控、风险管理、内
部监控系统及财务报告流程；
—
审阅本集团综合财务报表、年
度业绩公布及年报；
—
审阅本集团中期财务报表、中
期业绩公布及中期报告；及
—
考虑及建议重新委任独立核数
师。
审核委员会已于年内举行三次会议。
审核委员会成员之出席记录载于「董
事会」一节项下表格内。
(C) Acountability and Audit (Continued)
(i) Audit Comite (Continued)
The curent members of the Audit Comite are thre
independent non-executive Directors, Mr. Liu Ying Shun,
Mr. Wang Ping and Mr. Wang Zhengjun, with Mr. Liu Ying
Shun acting as the chairman of Audit Comite.
During the year, the work performed by the Audit
Comite is sumarized as folows:
— reviewed with the Directors and the auditor the
acounting principles and practices adopted by the
Group;
— reviewed the financial control, risk management
and internal control systems and financial reporting
proces;
— reviewed the Group’s consolidated financial
statements, anual results anouncement and anual
report;
— reviewed the Group’s interim financial statements,
interim results anouncement and interim report; and
— considered and recomended the re-apointment of
the independent auditor.
The Audit Comite held thre metings during the
year. The atendance record of the members at the Audit
Comite metings is set out in the table under “The
Board” section.
Corporate Governance Report
企业管治报告
ANUAL REPORT 2025 • 二零二五年报49
(C)
问责及审核（续）
(i)
风险管理及内部监控
(a)
董事会及管理层职责
董事会负责评估及厘定本集团
愿意承受风险的性质及程度以
达成其策略目标；并确保本集
团建立及维持适当及有效的风
险管理及内部监控系统；及监
督管理该等系统的设计、实施
及监察。
董事会知悉其负责本集团的风
险管理及内部监控系统，审核
系统的有效性以保障本集团资
产及股东利益。该等风险管理
及内部监控系统可提供合理但
非绝对确保消除重大错误陈述
或损失，且其旨在管理，而非
消除本集团无法达致其业务目
标的风险。
本集团管理层负责风险管理及
内部监控系统的设计、实施及
监察，以及向审核委员会确认
风险管理及内部监控系统的有
效性。
(C) Acountability and Audit (Continued)
(i) Risk Management and Internal Control
(a) Responsibilities of the Board and Management
The Board is responsible for evaluating and
determining the nature and extent of the risks that
the Group is wiling to take in achieving its strategic
objectives; ensuing that the Group establishes and
maintains apropriate and efective risk management
and internal control systems; and overseing
management in the design, implementation and
monitoring of these systems.
The Board acknowledges that it is responsible for
the risk management and internal control systems of
the Group and reviewing the systems’ efectivenes
to safeguard the Group’s asets and shareholders’
interests. These risk management and internal control
systems can provide reasonable but not absolute
asurance against material mistatement or los; and
they are designed to manage, rather than eliminate
the risk of failure to achieve the Group’s busines
objectives.
Management of the Group is responsible for
designing, implementing and monitoring the
risk management and internal control systems,
and confirming to the Audit Comite on the
efectivenes of the risk management and internal
control system.
| Audit Committee Board of Directors 审核委员会 董事会 • Review the effectiveness of the • Oversee management in the design, • Support the Board in risk management and internal implementation, and monitoring of the monitoring the design and control systems and have overall risk management and internal control operating effectiveness of responsibilities for these systems systems the risk management and 审阅风险管理及内部监控系统的有效 监督管理风险管理及内部监控系统的 internal control systems 性并对该等系统负全责 设计、实施及监察 支持董事会监督风险管理 及内部监控系统的设计及 • Share experience and provide direction 营运成效 on determining the key risks (at corporate level) and their mitigation measures 于厘定主要风险（于公司层面）及其降 低风险措施时，共享经验及提供指导 Internal Audit 内部审核 • Have an internal audit Management 管理层 function of the Group 有集团内部审核职能 • Design, implement and monitor risk • Monitor risk management practices hcaorppa Bottom-up • Perform reviews to evaluate management and internal control and internal control activities 式方的下而上自 自下而上的方式 the effectiveness of the risk systems 监督风险管理惯例及内部控制活动 management and internal 设计、实施及监察风险管理及内部监 控系统 • Provide a confirmation to the Board control systems nwod-poT Approach 审阅以评估风险管理及内 • Develop risk management policy and on the effectiveness of the risk 部监控系统的有效性 procedures management and internal control 制订风险管理政策及程序 • Provide regular reports systems (including monthly progress • Provide guidelines on performing risk 向董事会提供风险管理及内部监控系 assessment and control activities update reports) to the Audit 统有效性的确认书 提供进行风险评估及监控活动的指引 Committee 定期向审核委员会报告 • Identify key risks, assess their （包括每月进度更新报 respective impact and likelihood of occurrence, and determine 告） corresponding mitigation actions 识别主要风险、评估彼等的潜在影响 及发生的可能性，并厘定相应的降低 风险行动 Operational Level 营运水平 • Identify, assess and mitigate risks • Implement risk management and 识别、评估及降低风险 internal control practices 实施风险管理及内部监控惯例 |
|---|
| Board of Directors 董事会 |
|---|
| • Review the effectiveness of the risk management and internal control systems and have overall responsibilities for these systems 审阅风险管理及内部监控系统的有效 性并对该等系统负全责 • Share experience and provide direction on determining the key risks (at corporate level) and their mitigation measures 于厘定主要风险（于公司层面）及其降 低风险措施时，共享经验及提供指导 |
| • Identify, assess and mitigate risks 识别、评估及降低风险 | • Implement risk management and internal control practices 实施风险管理及内部监控惯例 |
|---|
Corporate Governance Report
企业管治报告
Magnus Concordia Group Limited / 融太集团股份有限公司50
(C)
问责及审核（续）
(i)
风险管理及内部监控（续）
(b)
风险管理及内部监控管治框
架
(C) Acountability and Audit (Continued)
(i) Risk Management and Internal Control
(Continued)
(b) Risk Management and Internal Control
Governance Framework
Corporate Governance Report
企业管治报告
ANUAL REPORT 2025 • 二零二五年报51
(C)
问责及审核（续）
(i)
风险管理及内部监控（续）
(c)
三道防线模式
本集团董事会及管理层依靠适
当的部门职能（包括本集团内
部的监督及保证职能）以确保
本集团的风险管理及内部监控
系统的有效性。本集团采用「三
道防线」模式以抵御威胁到本
集团实现目标的风险，并按以
下所示说明该等职能的关系：
•
第一道防线由日常负责
及实践内部控制的业务
单位╱团队提供；
•
第二道防线由风险管理
及其他监督职能提供，
该等职能协助本集团监
控第一道防线；及
•
第三道防线由内部审核
职能（即集团内部审计部）
提供，该职能负责向本
集团提供独立的保证。
(C) Acountability and Audit (Continued)
(i) Risk Management and Internal Control
(Continued)
(c) Thre Lines of Defence Model
The Board and management of the Group rely on
the adequate line functions, including monitoring and
asurance functions within the Group to ensure the
efectivenes of its risk management and internal
control systems. The Group adopts a ‘Thre Lines of
Defence’ model to shield against risks that threaten
the achievement of the Group’s goals, and as a
way of explaining the relationship betwen these
functions, as ilustrated below:
• The first line of defence is provided by the
busines units/teams who own and practise the
internal controls on a day-to-day basis;
• The second line of defence is provided by the
risk management and other oversight functions
that asist the Group to monitor the first line of
defence; and
• The third line of defence is provided by the
internal audit function (namely internal audit
department of the Group), which is responsible
for providing independent asurance to the
Group.
Corporate Governance Report
企业管治报告
Magnus Concordia Group Limited / 融太集团股份有限公司52
(C)
问责及审核（续）
(i)
风险管理及内部监控（续）
(d)
风险管理
董事会已参考
Comite
of Sponsoring Organizations
（「
COSO
」）
of the Treadway
Comision
于二零一七年颁
布的企业风险管理（「企业风险
管理」）框架的主要原则「企业
风险管理
—
战略和绩效相结
合」，制定了企业风险管理框
架。本集团的企业风险管理框
架包括下列主要特点：
—
风险管治架构
本集团的风险管治架构
包括日常运营管理及监
控，风险及合规监督。本
集团已制订风险管理政
策，当中制定了本集团
管理风险的准则及程序，
明确界定各架构层（包括
董事会、审核委员会、部
门领导、各营运层雇员
及内部审计部）的职责，
以实现本集团的策略及
营运目标及宗旨。
(C) Acountability and Audit (Continued)
(i) Risk Management and Internal Control
(Continued)
(d) Risk Management
The Board has established an enterprise risk
management (“ERM”) framework with reference to
the key principles of the Comite of Sponsoring
Organizations (“COSO”) of the Treadway Comision
ERM framework, “Enterprise Risk Management —
Integrating with Strategy and Performance” published
in 2017. The Group’s ERM framework includes the
folowing key features:
— Risk Governance Structure
The Group’s risk governance structure
comprises day-to-day operational management
and control, risk and compliance oversight.
The Group has developed a risk management
policy, which outlines the principles and
procedures for the Group to manage its risks
and clearly defines roles and responsibilities
of each of the multiple layers of the structure,
including the Board, the Audit Comite,
department heads, employes at operational
levels and the internal audit department, in
order to achieve the Group’s strategic and
operational goals and objectives.
Corporate Governance Report
企业管治报告
ANUAL REPORT 2025 • 二零二五年报53
(C)
问责及审核（续）
(i)
风险管理及内部监控（续）
(d)
风险管理（续）
—
风险管理流程
本集团已建立稳健的风
险管理流程以识别、评
估及管理重大风险，如
下图所示：
(C) Acountability and Audit (Continued)
(i) Risk Management and Internal Control
(Continued)
(d) Risk Management (Continued)
— Risk Management Proces
A robust risk management proces is
developed to identify, evaluate and manage
significant risks, as shown in the diagram
below:
Identify 识别
• Identify the risks faced by the Group
识别本集团面临的风险
Ases 评估
• Analyse the identified risks based
on two dimensions: potential impact
and likelihod of ocurence
自两个角度分析已识别的风险：潜
在影响及发生的可能性
Prioritise 优次排序
• Prioritise key risks and validate
top risks
对主要风险进行优次排序及确
认最高风险
Respond 应对
• Select an apropriate risk treatment for
identified key risks
选取合适风险处理方法以识别主要风险
- , evaluate and implement controls
on the identified risks
对已识别的风险制订、评估及实施监控
Monitor & Report
监督及呈报
• Perform ongoing monitoring of
risks
进行持续风险监察
• Consolidate the results of the
risk asesment; and establish
a detailed action plan
综合风险评估结果；及制订详
尽行动计划
- & the
Audit Comite
向管理层及审核委员会汇报
Risk Management
Proces
风险管理流程
Risk Management Proces
风险管理流程
Corporate Governance Report
企业管治报告
Magnus Concordia Group Limited / 融太集团股份有限公司54
(C)
问责及审核（续）
(i)
风险管理及内部监控（续）
(d)
风险管理（续）
—
风险管理流程（续）
风险管理流程
于本年度，本集团在企
业及业务流程两个层面
的主要业务活动（涵盖其
物业发展、印刷品生产
及销售、物业投资及库
务业务）进行风险评估，
其亦存有风险登记册，
包含主要风险、潜在结
果、发生的可能性、影响
及整体风险评级的资料。
根据董事会承受风险的
能力，风险责任人将执
行降低风险行动，并回
应其于风险登记册上所
负责的风险。
本集团已建立一套流程，
于每月管理层报告上识
别及呈报任何新的或新
兴风险。此外，任何风险
管理之最新情况将于审
核委员会议上呈报及
讨论，以有效监督及跟
踪所识别的公司层面的
关键风险。
风险登记册的风险每年
重新评估，以考虑有否
潜在新的或新兴风险。
视乎情况及外部环境的
变化，本集团的风险承
受水平及风险应对能力
将相应作出调整。
(C) Acountability and Audit (Continued)
(i) Risk Management and Internal Control
(Continued)
(d) Risk Management (Continued)
— Risk Management Proces (Continued)
Risk Management Proces
During the year, the Group conducted
risk asesments at both corporate and
busines proces levels which include its
principal activities (property development,
manufacturing and trading of printed
products, property investment and treasury
busines). It also maintains a risk register that
contains information of key risks, the potential
consequences, the likelihod of ocurence,
impact and overal risk rating. Risk owners wil
execute risk mitigation actions and respond to
their asigned risks in the risk register based on
the Board’s risk tolerance.
The Group has developed a proces to identify
and report any new or emerging risks in the
monthly management reports. In adition,
any update on the risk management would be
reported and discused in the Audit Comite
metings, in order to efectively monitor
and kep track of the key risks identified at
corporate level.
On an anual basis, the risks in the risk register
are re-evaluated, with consideration of potential
new or emerging risks. Depending on the
changes in circumstances and the external
environment, the Group’s risk tolerance
levels and risk responses would be adjusted
acordingly.
Corporate Governance Report
企业管治报告
ANUAL REPORT 2025 • 二零二五年报55
(C)
问责及审核（续）
(i)
风险管理及内部监控（续）
(e)
内部监控
本集团乃参考
COSO
建立的内
部监控
—
综合框架的主要原
则实行内部监控系统。本集团
内部监控系统的主要特点及组
成部分于下图呈列。
(C) Acountability and Audit (Continued)
(i) Risk Management and Internal Control
(Continued)
(e) Internal Control
The Group has implemented an internal control
system with reference to the key principles of the
Internal Control — Integrated Framework established
by the COSO. The main features and components of
the Group’s internal control system are represented
in the folowing diagram.
Internal Control Framework
内部监控框架
Risk Asesment
风险评估
Control Activities
监控活动
Information and
Comunication
资讯及通讯
Monitoring Activities
监督活动
Control Environment
监控环境
Objectives:
目标：
• Operations
营运
• Reporting
呈报
• Compliance
合规
Corporate Governance Report
企业管治报告
Magnus Concordia Group Limited / 融太集团股份有限公司56
(C) Acountability and Audit (Continued)
(i) Risk Management and Internal Control
(Continued)
(e) Internal Control (Continued)
Internal Control Framework
The Group has established group internal audit
department. The head of the internal audit
department of the Group leads the internal audit
function and performs independent reviews of key
busines proceses of the Group. The internal audit
plan of the Group adopts a risk-based aproach,
which is aproved by the Audit Comite
anualy with an objective to ases the adequacy,
efectivenes, eficiency and reliability of internal
control procedures over financial, operational and
compliance activities of the Group. The internal audit
department of the Group reports the results of the
independent reviews together with the recomended
remedial actions, in the form of internal audit reports,
directly to the Audit Comite on a regular basis.
Folow-up reviews are performed by the internal audit
department of the Group, in order to verify that the
identified isues have ben remediated in a timely
maner.
During the year, the internal audit department of
the Group conducted reviews and reported the
status of implementation of remedial actions on
control deficiencies, e.g. through monthly progres
update reports provided to the Audit Comite.
Relevant recomendations reported by the internal
audit department of the Group wil be implemented
by management to enhance the Group’s internal
controls, and to resolve material internal control
deficiencies in a timely maner.
(C)
问责及审核（续）
(i)
风险管理及内部监控（续）
(e)
内部监控（续）
内部监控框架
本集团已设立集团内部审计
部。集团内部审计部总监领导
内部审核职能及就本集团的
关键业务流程进行独立审核。
本集团的内部审计划采用以
风险为主导之方式每年由审核
委员会批准，旨在评估本集团
的财务、营运及合规活动对应
的内部监控流程之充分性、有
效性、效率及可靠性。集团内
部审计部会以内部审计报告的
形式直接向审核委员会定期报
告独立审核结果与提供整改建
议。集团内部审计部会进行后
续审查，以查证所识别的问题
已及时整改。
于年内，集团内部审计部已进
行审视及报告有关监控的不足
之处的整改情况，例如通过向
审核委员会提供每月进度更新
报告。内部审计部报告的相关
建议将由管理层实施，以优化
本集团的内部控制，并及时解
决重大内部监控缺陷。
Corporate Governance Report
企业管治报告
ANUAL REPORT 2025 • 二零二五年报57
(C) Acountability and Audit (Continued)
(i) Risk Management and Internal Control
(Continued)
(f) Inside Information
In compliance with the Securities and Futures
Ordinance (the “SFO”, Cap. 571 of the Laws of Hong
Kong) and the Main Board Listing Rules, the Group
has developed an inside information disclosure policy
and internal controls for handling and disemination
of inside information to ensure consistent and timely
disclosure, and fulfilment of the Group’s disclosure
obligations. The Group has also established and
implemented procedures to guide its employes on
how to report and handle inside information, and
strictly prohibit them from any unauthorized use of
inside information.
(g) Whistleblowing Policy
The Group is comited to the highest posible
standards of openes, probity and acountability.
Anti-bribery and anti-coruption standards are
important parts of the Group’s policies and operating
practices. In line with this comitment, the Group
has its whistleblowing policy which the employes
and other stakeholders of the Company can raise
concerns, in confidence or anonymously, about
any suspected misconduct or malpractice within
the Company. A designated email acount and a
dedicated hotline have ben set up for this purpose.
(C)
问责及审核（续）
(i)
风险管理及内部监控（续）
(f)
内幕消息
为遵守香港法例第
章证券
及期货条例（「证券及期货条
例」）及上市规则，本集团就处
理及传播内幕消息制定了内幕
消息披露政策及内部监控，以
确保披露的一致性与及时性，
以及履行本集团的披露责任。
本集团亦制定并实施流程，指
导雇员如何报告及处理内幕消
息，以及严令禁止任何未经授
权使用内幕消息。
(g)
举报政策
本集团致力秉持最高的开放、
廉洁及责任标准。反贿赂及反
贪污标准均乃本集团政策及
营运常规之重要部分。为贯彻
这一承诺，本集团设有其举报
政策，雇员及本公司其他持份
者可就其所怀疑的本公司内部
任何不当行为或舞弊情况以保
密或匿名的方式表达关注。就
此，指定举报电子邮件帐户和
举报专用热线亦已设立。
Corporate Governance Report
企业管治报告
Magnus Concordia Group Limited / 融太集团股份有限公司58
(C) Acountability and Audit (Continued)
(i) Risk Management and Internal Control
(Continued)
(h) Review of Systems Efectivenes
Through the Audit Comite, the Board has
conducted an anual review of the efectivenes
and adequacy of the risk management and internal
control systems by reviewing the work performed by
the internal audit department for the year ended 31
March 2025. The review covered al material controls,
including financial, operational and compliance
controls, and risk management functions. The scope
and quality of ongoing monitoring of risks and the
internal control system have ben asesed. The
changes in the nature and extent of significant risks
faced by the Group and response plans have ben
evaluated.
Management has conducted control self-asesment
on the core busines proceses anualy and the
Board has received a confirmation from management
on the efectivenes of the Group’s risk management
and internal control systems, and considered that the
risk management and internal control systems are
efective and adequate.
During the review, the Board also asesed and
was satisfied with the adequacy of the resources,
employe qualifications and experience, training
programes and budget of the Group’s acounting,
financial reporting and internal audit function. Qualified
individuals of the Group maintain and monitor these
internal control procedures on an ongoing basis.
The Board is satisfied that the Group has fuly
complied with the code provisions under principle
D.2 of the CG Code regarding risk management and
internal control for the year ended 31 March 2025.
(C)
问责及审核（续）
(i)
风险管理及内部监控（续）
(h)
审阅系统的有效性
董事会已透过审核委员会，
审阅了截至二零二五年三月
三十一日止年度内部审计部的
工作，并借此就风险管理及内
部监控系统的成效及充足性进
行了年度审阅。该审阅涵盖所
有重大监控，包括财务、营运
及合规监控，以及风险管理职
能。持续监察风险及内部监控
系统的范畴及质素已获评估。
本集团所面临的重大风险之性
质及程度之变动以及回应计划
均已获评估。
管理层每年对核心业务流程进
行监控自我评估，且董事会已
收到管理层有关本集团风险管
理及内部监控系统有效性的确
认书，并认为风险管理及内部
监控系统属有效及充足。
于审阅时，董事会亦评估及信
纳本集团的会计、财务报告及
内部审核职能的资源、员工资
格及经验、培训计划及预算之
充足性。本集团符合资格的雇
员持续维持及监督该等内部监
控程序。
董事会信纳本集团于截至二零
二五年三月三十一日止年度全
面遵守企业管治守则第
D.2
条
项下有关风险管理及内部监控
的守则条文。
Corporate Governance Report
企业管治报告
ANUAL REPORT 2025 • 二零二五年报59
(C)
问责及审核（续）
(iv)
独立核数师之酬金
于本年度，已付或应付予独立核数
师中汇安达会计师事务所有限公司
之酬金载列如下：
(v)
无法表示意见之详情及无法
表示意见之基础
根据上市规则附录
C1
守则条文
D.1.3
规定，董事会谨此提供更多有关无
法发表意见之详情及无法表示意见
之基础。
如综合财务报表附注
所披露，
当中提及本集团截至二零二五
年三月三十一日止年度录得亏损
85,172,000
港元及经营现金流出净
额
11,768,000
港元，而于二零二五
年三月三十一日，本集团之流动负
债净额为
182,578,000
港元。此外，
本集团于二零二五年三月三十一日
总额为
88,000,000
港元之银行贷款
载有按要求偿还条款及财务契诺，
其于截至二零二五年三月三十一日
止年度内已遭违反，详情载于综合
财务报表附注
。该等情况显示存
在重大不确定性，可能会对本集团
持续经营的能力构成重大疑虑，因
此本集团可能无法在正常业务过程
中变现其资产及清偿其负债。
综合财务报表乃按持续经营基准编
制。如综合财务报表附注
所述，本
公司董事已采取多项措施以及其他
进行中之措施，以减轻流动资金压
力及改善其财务状况及现金流量。
(C) Acountability and Audit (Continued)
(iv) Independent Auditor’s Remuneration
During the year, the remuneration paid or payable to the
independent auditor, ZHONGHUI ANDA CPA Limited, is
set out as folows:
HK$’000
Services rendered
所提供服务千港元
Audit and audit related services
审核及审核相关服务
1,350
(v) Details of the Disclaimer of Opinion and
Basis for Disclaimer of Opinion
Pursuant to Code Provision D.1.3 of Apendix C1 to the
Listing Rules, the Board would like to provide more details
on the Disclaimer of Opinion and Basis for Disclaimer of
Opinion.
As disclosed in note 2 to the consolidated financial
statements, which mentions that the Group incured a los
of HK$85,172,000 and had net operating cash outflow of
HK$11,768,000 for the year ended 31 March 2025 and
as at 31 March 2025 the Group had net curent liabilities
of HK$182,578,000. In adition, the Group’s bank loans
with the agregate amount of HK$88,000,000 as at 31
March 2025 contain repayment on demand clause and
financial covenants which were breached during the
year ended 31 March 2025, as detailed in note 32 to
the consolidated financial statements. These conditions
indicate the existence of a material uncertainty which may
cast significant doubt on the Group’s ability to continue as
a going concern and, therefore, that the Group may not be
able to realise its asets and discharge its liabilities in the
normal course of busines.
The consolidated financial statements have ben prepared
on a going concern basis. The directors of the Company
adopted several measures together with other measures
in progres as described in note 2 to the consolidated
financial statements to mitigate the liquidity presure and
improve its financial position and cash flows.
Corporate Governance Report
企业管治报告
Magnus Concordia Group Limited / 融太集团股份有限公司60
(C)
问责及审核（续）
(v)
无法表示意见之详情及无法
表示意见之基础（续）
就本集团已积极进行推广活动以吸
引更多客户购买已完工物业，从而
于未来十二个月透过销售或预售增
加销售所得款项，并寻求其他方法
增加营运资金（例如出售本集团的投
资物业）而言，由于市场变化难以预
测，管理层未能向独立核数师提供
有关计划详情的充足资料，包括详
细时间表及将实施的行动。因此，
独立核数师无法取得其认为属必要
的充分适当审计凭证，以评估本集
团加快出售其物业的能力。
就寻求其他替代融资及银行借贷以
提供资金用于清偿现有财务责任及
未来营运及资本开支而言，管理层
未能向独立核数师提供有关筹资计
划详情的充足资料，且尚未达成任
何新的融资协议。因此，独立核数
师无法取得其认为必要的充分适当
审计凭证，以评估本集团获取新融
资的能力。
鉴于上述范围限制，独立核数师并
无其他可供执行的替代程序可令其
信纳本集团将能够实施其计划及措
施，因此，独立核数师未能取得其
认为必要且充分适当的凭证，以就
采用持续经营会计基准编制该综合
财务报表适当与否作出结论。
(C) Acountability and Audit (Continued)
(v) Details of the Disclaimer of Opinion
and Basis for Disclaimer of Opinion
(Continued)
In respect of the Group has actively caried out promotional
activities to atract more customers to purchase the
completed properties in order to increase the sale
proceds through sales or pre-sales in the coming twelve
months and seking for other alternatives to increase
its working capital such as disposing of the Group’s
investment properties, management was unable to provide
Independent Auditor with suficient information about the
details of the plan, including the detailed timetable and
actions to be implemented because of the unpredictable
market changes. Acordingly, Independent Auditor was
unable to obtain suficient apropriate audit evidence that
Independent Auditor considered necesary to evaluate the
Group’s ability to acelerate the sales of its properties.
In respect of seking for other alternative financing
and bank borowings to finance, the setlement of the
existing financial obligations and future operating and
capital expenditure, management was unable to provide
Independent Auditor with suficient information about
the details of the fund-raising plan and no new financing
agrements have ben reached. Acordingly, Independent
Auditor was unable to obtain suficient apropriate audit
evidence that Independent Auditor considered necesary
to evaluate the Group’s ability to have the new financing.
In view of the above scope limitation, there were no other
alternative procedures that Independent Auditor could
perform to satisfy themselves that the Group would be
able to implement its plans and measures, as a result,
Independent Auditor was unable to obtain suficient
apropriate evidence Independent Auditor considered
necesary to conclude whether the use of the going
concern basis of acounting to prepare the consolidated
financial statements is apropriate.
Corporate Governance Report
企业管治报告
ANUAL REPORT 2025 • 二零二五年报61
(C)
问责及审核（续）
(v)
无法表示意见之详情及无法
表示意见之基础（续）
倘本集团未能实现上述计划及措施，
则可能无法继续以持续经营的方式
经营，并须作出调整，将本集团资
产的账面值撇减至其可收回金额，
为任何可能产生的进一步负债作出
拨备，以及将非流动资产及非流动
负债分别重新分类为流动资产及流
动负债。这些调整的影响并未反映
在该等综合财务报表中。
(vi)
管理层对无法表示意见的立
场
于本集团公布截至二零二五年三月
三十一日止年度的年度业绩前，本
公司管理层已与独立核数师进行讨
论，并理解其对无法表示意见的担
忧及原因。管理层认为，以持续经
营基准编制综合财务报表是适当的，
且该基准的进一步阐述载于综合财
务报表附注
。
(vi)
审核委员会对无法表示意见
及管理层立场的观点
基于审阅本集团截至二零二五年三
月三十一日止年度的综合财务报表
（包括本集团采纳的会计原则及惯例）
及与本公司管理层之讨论，并经考
虑董事对该等事项之意见以及本集
团为支持编制综合财务报表所采用
之持续经营假设而采取的计划及措
施，审核委员会认同董事就采用持
续经营假设编制综合财务报表所作
之评估及其理据。
审核委员会每三个月会召开定期会
议以监察公司行动之进度。公司亦
会为此刋发自愿性公告。
(C) Acountability and Audit (Continued)
(v) Details of the Disclaimer of Opinion
and Basis for Disclaimer of Opinion
(Continued)
Should the Group fail to achieve the above-mentioned
plans and measures, it might not be able to continue
to operate as a going concern, and adjustments would
have to be made to write down the carying values of
the Group’s asets to their recoverable amounts, to
provide for any further liabilities which might arise, and to
reclasify non-curent asets and non-curent liabilities
as curent asets and curent liabilities, respectively. The
efect of these adjustments has not ben reflected in the
consolidated financial statements.
(vi) Management’s position towards the
Disclaimer of Opinion
Prior to the anouncement of the anual results of the
Group for the year ended 31 March 2025, the management
of the Company held discusions with the Independent
Auditor, and understod its concerns and reasons for the
Disclaimer of Opinion. The management is of the view
that it is apropriate to prepare the consolidated financial
statements on a going concern basis, bases of which are
further elaborated in note 2 to the consolidated financial
statements.
(vi) Audit Comite’s views towards the
Disclaimer of Opinion and Management’s
Position
Based on the review of the Group’s consolidated financial
statements for the year ended 31 March 2025, including
the acounting principles and practices adopted by
the Group, and discusion with the management of the
Company and taken into acount the Directors’ views
thereto and the plans and measures undertaken by the
Group to suport the going concern asumptions used in
preparation of the consolidated financial statements, the
Audit Comite concurs with the Directors’ asesment
and the basis for forming such a view with respect to
adopting going concern asumptions in the preparation of
the consolidated financial statements.
The Audit Comite wil hold regular metings every
thre months to monitor the progres of the actions of
the Company. The Company wil also make voluntary
anouncements thereon.
Corporate Governance Report
企业管治报告
Magnus Concordia Group Limited / 融太集团股份有限公司62
(C)
问责及审核（续）
(vi)
集团应对无法表示意见的行
动计划
如综合财务报表附注
所披露，为改
善本集团之财务状况、可即时动用
之流动资金及现金流，以及让本集
团继续以持续经营基准营运，本公
司董事已采纳若干措施，连同于综
合财务报表获授权刊发当日正在进
行的其他措施，包括但不限于以下
各项：
—
就于截至二零二五年三月
三十一日止年度本集团违反财
务契诺之借款（分类为流动负
债）而言，于报告期末后，如
综合财务报表附注
所披露，
本集团就银行借款
88,000,000
港元，已获得银行一次性豁
免并向银行偿还约
4,000,000
港元。此外，该等借款以约
178,100,000
港元的投资物业
作为抵押。本公司董事认为，
若银行对本集团采取法律行动
要求立即还款，投资物业将被
变卖偿还，不会对本集团的业
务、经营及财务状况造成任何
重大不利影响；
—
本集团已积极进行推广活动以
吸引更多客户购买已完工物
业，以在未来十二个月透过销
售或预售增加销售所得款项。
截至本综合财务报表的批准日
期，本集团已与客户签订的买
卖协议金额为
19,975,000
港元；
—
本集团亦将继续寻求其他替代
方案以增加其营运资金，例如
在需要时出售本集团的投资物
业；
—
本集团亦将继续寻求其他替代
融资及银行借款，以就偿还现
有财务责任及未来营运及资本
开支提供资金；及
—
本集团会雇用财务顾问以考虑
不同的财务集资工具（例如配
置新股份及╱或发行可换股债
卷）和寻找潜在投资者，以加
强及改善本集团资本基础及现
金流。
(C) Acountability and Audit (Continued)
(vi) The Group’s action plan to adres the
Disclaimer of Opinion
As disclosed in note 2 to the consolidated financial
statements, in order to improve the Group’s financial
position, imediate liquidity and cash flows, and otherwise
to sustain the Group as a going concern, the directors of
the Company have adopted folowing measures:
— in relation to the borowings that the Group had
breached the financial covenants during the year
ended 31 March 2025 and are clasified as curent
liabilities, subsequent to the end of the reporting
period, the Group has obtained a one-of waiver from
the bank for the bank borowing of HK$88,000,000
and repaid HK$4,000,000 to the bank as disclosed
in note 43 to the consolidated financial statements.
Further, the borowings was secured by a pledge of
investment properties amounting to aproximately
HK$178,100,000. The directors of the Company is
of the view that in the event that if the bank takes
any legal action against the Group to demand
imediate repayment, the investment properties wil
be disposed for the setlement, it would not have any
material adverse impact on the busines, operation
and financial conditions of the Group;
— the Group has actively caried out promotional
activities to atract more customers to purchase the
completed properties in order to increase the sale
proceds through sales or pre-sales in the coming
twelve months. Up to the date of aproval of these
consolidated financial statements, the Group has
signed the sales and purchase agrements with
customers amounting to HK$19,975,000;
— the Group wil also continue to sek for other
alternatives to increase its working capital such as
disposing of the Group’s investment properties, if
neded;
— the Group wil also continue to sek for other
alternative financing and bank borowing to finance
the setlement of the existing financial obligations and
future operating and capital expenditure; and
— The Group wil engage financial advisor(s) to consider
various financial fund-raising tols (e.g. placing of
new shares and/or isue of convertible bonds) and
sek for potential investors, so as to strengthen and
improve the capital base and cashflow of the Group.
Corporate Governance Report
企业管治报告
ANUAL REPORT 2025 • 二零二五年报63
(D)
董事会之授权
(i)
董事委员会
本公司已成立三个委员会，分别为
审核委员会、提名委员会及薪酬委
员会。此等委员会之成立均订有明
确成文之职权范围，其清楚界定委
员会之权力及职责。
(i)
管理功能
董事会已界定留待董事会全权批准
之事项及交由执行管理层处理之事
项。董事会将权力及责任委托予执
行管理层，以便进行本集团之日常
管理及营运。而董事会保留其对本
公司所有重大事宜的决策权，包括
批准及监察所有政策事务、整体策
略及预算、内部监控及风险管理系
统、重大交易（尤其是可能牵涉利益
冲突的交易）、财务资料、董事的委
任及其他重大财务及经营事宜。执
行管理层已获授予明确之职权范围，
特别是在何种情况下应向董事会汇
报及事先取得批准。所有给予执行
管理层之授权均定期予以检讨，确
保授权仍属恰当。
(D) Delegation by the Board
(i) Board Comite
The Company has established thre comites,
namely Audit Comite, Nomination Comite, and
Remuneration Comite. These comites were formed
with specific clear writen terms of reference which deal
clearly with the comites’ authorities and duties.
(i) Management Function
The Board has determined which maters are to be
retained by the ful Board sanction and which maters
are to be delegated to the executive management. The
executive management are delegated the authority
and responsibilities by the Board for the day-to-day
management and operation of the Group, while the
Board reserves for its decision on al major maters of
the Company, including the aproval and monitoring
of al policy maters, overal strategies and budgets,
internal control and risk management systems, material
transactions (in particular those that may involve conflict of
interests), financial information, apointment of Directors
and other significant financial and operational maters.
The executive management has ben given clear terms
of reference, in particular, circumstances where the
executive management should report to and obtain prior
aproval from the Board. Al delegations to the executive
management are reviewed periodicaly to ensure that they
remain apropriate.
Corporate Governance Report
企业管治报告
Magnus Concordia Group Limited / 融太集团股份有限公司64
(E) Corporate Governance
The Board is responsible for performing the corporate
governance duties which include reviewing and developing
the Company’s corporate governance policies and practices;
reviewing and monitoring (a) the training and continuous
profesional development of directors and senior management,
(b) the Company’s policies and practices on compliance with
legal and regulatory requirements and (c) the compliance with the
Model Code; and reviewing the Company’s compliance with the
CG Code and disclosure in the Corporate Governance Report.
During the year, the Board has reviewed and performed the
abovementioned corporate governance duties.
(F) Company Secretary
During the year, Mr. Leung Siu Kuen was an employe of the
Company and has taken not les than 15 hours of relevant
profesional training during the year under review in compliance
with Rule 3.29 of the Listing Rules.
(G) Dividend Policy
The Board adopted a dividend policy for the Company which
tok efect from January 2019. In general, the Company intends
to provide shareholders with semi-anual or anual dividends,
and to declare special dividends from time to time. In deciding
whether to propose a dividend and in determining the dividend
amount, the Board wil take into acount the Company’s earnings
performance, financial position, investment requirements and
future prospects.
(E)
企业管治
董事会负责履行企业管治职务，包括审视
及制定本公司之企业管治政策及常规；审
阅及监察
(a)
董事及高层管理人员培训及
持续专业发展；
(b)
本公司政策及常规是否
符合法律及监管要求及
(c)
遵守标准守则
的情况；及审阅本公司遵守企业管治守则
的情况及于企业管治报告书所作之披露。
于本年度，董事会已审阅及履行上述企业
管治职务。
(F)
公司秘书
于本年度，梁兆权先生为本公司雇员且于
本年度已根据上市规则第
3.29
条规定接受
不少于
个小时的相关专业培训。
(G)
股息政策
董事会自二零一九年一月起采纳本公司
的股息政策。一般而言，本公司拟向股东
提供半年或年度股息，及不时宣派特别股
息。董事会于决定是否建议宣派股息及厘
定股息金额时将考虑本公司的盈利表现、
财务状况、投资要求及未来前景。
Corporate Governance Report
企业管治报告
ANUAL REPORT 2025 • 二零二五年报65
(G)
股息政策（续）
董事会亦将考虑现行市况及全球经济状
况。派息率将于保留足够资金作未来投资
机遇及未来用途资金；及所有可能的投资
均获拨资后，按有关财政年度录得的净利
润的若干百分比计算。股息政策将不时继
续予以检讨，并保证在任何特定期间内股
息将从任何特定款项中派付。
股息的派付亦须受香港法律、开曼群岛法
律及本公司组织章程细则项下的任何限制
所规限。
(H)
与股东之沟通及投资者关系
本公司已订有与股东沟通之政策，其宗旨
为让股东及投资者以知情之方式行使其权
利，并让股东、投资者及投资界与本公司
积极沟通。董事会有责任每年审视有关政
策以确保其效能。
(i)
股东大会
董事会将股东大会视为与本公司股
东沟通之主要渠道。本年度，本公
司举行一次股东周年大会。
每位董事出席股东大会之记录载于
「董事会」一节的表格。
(G) Dividend Policy (Continued)
The Board wil also take into acount the prevailing market
conditions and global economic situation. The dividend payout
ratio, would be calculated based on certain per cent of the net
profit recorded during the financial year, after retaining a suficient
fund as capital for future investment oportunities, future use;
and al posible investment have ben financed. The dividend
policy wil continue to be reviewed from time to time and there
can be asurance that dividends wil be paid in any particular
amount for any given period.
The payment of dividend is also subject to any restriction under
the laws of Hong Kong, the laws of the Cayman Islands and the
Articles of Asociation of the Company.
(H) Comunication with Shareholders and
Investor Relations
The Company has established a shareholders comunication
policy with the objectives of enabling its shareholders and
investors to exercise their rights in an informed maner and
to alow the shareholders, investors and the investment
comunities to engage actively with the Company. The Board
has the responsibility to review the policy anualy to ensure its
efectivenes.
(i) General Metings
The Board regards general metings as the principal
oportunity to comunicate with shareholders of the
Company. During the year, the Company has held an
anual general meting.
The atendance records of each Director at the general
meting is set out in the table under “The Board” section.
Corporate Governance Report
企业管治报告
Magnus Concordia Group Limited / 融太集团股份有限公司66
(H)
与股东之沟通及投资者关系
（续）
(i)
重要事项
本公司已确保股东大会将会处理任
何重要事项，而有关事项均会以独
立之决议案提呈。
(i)
以按股数投票之方式表决
根据上市规则第
13.39(4)
条之规定，
于本公司所有股东大会上股东之表
决已以按股数投票之方式进行，而
投票结果已依照上市规则第
13.39(5)
条订明之程序作出公布。
(iv)
企业文件于本公司及联交所
之网站内可供查阅
本公司已将本公司之公布、通函、
年报╱中期报告、股东大会通告及
上市规则规定之其他资料登载于本
公司及联交所之网站内。
(v)
股东查询
本公司股东可向本公司之香港股份
过户登记分处查询有关其于本公司
之持股情况，亦可向董事会查询所
有其他问题。有关详情已登载于本
公司之网站内。
(H) Comunication with Shareholders and
Investor Relations (Continued)
(i) Significant Isues
The Company has ensured that any significant isues
would be dealt with at general metings and be proposed
as a separate resolution.
(i) Voting by Pol
Pursuant to Rule 13.39(4) of the Listing Rules, votes of
shareholders at al general metings of the Company
have ben taken by pol and results of the pol have ben
anounced in acordance with the procedures prescribed
under Rule 13.39(5) of the Listing Rules.
(iv) Corporate Documents Available on the
Websites of the Company and the Stock
Exchange
The Company has placed the anouncements, circulars,
anual/interim reports, notices of general metings and
other information of the Company as required by the Listing
Rules on the websites of the Company and the Stock
Exchange.
(v) Shareholders’ Enquiries
Shareholders of the Company may direct their questions
about their shareholdings to the Company’s branch share
registrar in Hong Kong and al other questions to the
Board. Details have ben published on the website of the
Company.
Corporate Governance Report
企业管治报告
ANUAL REPORT 2025 • 二零二五年报67
(I)
股东权利
(i)
召开股东特别大会
根据本公司组织章程细则第
条，
股东特别大会可由本公司任何一位
或以上股东（包括获认可结算所或其
代理人）向本公司在香港之总办事处
（地址为香港湾仔告士打道
109–111
号东惠商业大厦
楼
02–03
室）（或
若本公司不再设置总办事处，则注
册办事处，地址为
Cricket Square,
Hutchins Drive, P.O. Box 2681, Grand
Cayman KY1-1111, Cayman Islands
）
送递提请书要求召开，有关提请书
须注明召开该大会之目的并由提请
人签署，惟该等提请人于送递提请
书当日须持有不少于十分之一附带
本公司股东大会表决权之本公司缴
足股本。
若董事会并未于提请书送递日期起
天内正式召开大会，提请人本人
或任何代表超过所有提请人二分之
一总表决权之提请人可按尽可能接
近董事会召开大会之相同方式召开
股东大会，惟任何按此召开之大会
不得于提请书送递日期起计三个月
届满后举行，而因董事会未有召开
大会以致提请人须召开大会而支销
之一切合理费用，将由本公司付还
提请人。
(I) Shareholders’ Rights
(i) Convening an Extraordinary General
Meting
Pursuant to Article 72 of the Articles of Asociation of
the Company, an extraordinary general meting may be
convened on the writen requisition of any one or more
shareholders of the Company (including a recognized
clearing house (or its nomines) deposited at the principal
ofice of the Company in Hong Kong at Units 02–03, 7/
F, Tung Wai Comercial Building, 109–111 Gloucester
Road, Wanchai, Hong Kong or, in the event the Company
ceases to have such a principal ofice, the registered ofice
at Cricket Square, Hutchins Drive, P.O. Box 2681, Grand
Cayman KY1-1111, Cayman Islands, specifying the objects
of the meting and signed by the requisitionist(s), provided
that such requisitionist(s) held as at the date of deposit of
the requisition not les than one-tenth of the paid up capital
of the Company which caries the right of voting at general
metings of the Company.
If the Board does not within 21 days from the date of
deposit of the requisition proced duly to convene the
meting, the requisitionist(s) themselves or any of them
representing more than one-half of the total voting rights of
al of them, may convene the general meting in the same
maner, as nearly as posible, as that in which metings
may be convened by the Board provided that any meting
so convened shal not be held after the expiration of thre
months from the date of deposit of the requisition, and al
reasonable expenses incured by the requisitionist(s) as
a result of the failure of the Board shal be reimbursed to
them by the Company.
Corporate Governance Report
企业管治报告
Magnus Concordia Group Limited / 融太集团股份有限公司68
(I)
股东权利（续）
(i)
向董事会之查询
本公司股东将有机会于股东大会上
向董事会作出提问。彼等亦可向董
事会作出书面查询。有关查询可通
过下列其中一项途径传达至「融太集
团股份有限公司之董事会」：
董事会将即时回应股东之正式查询。
(i)
于股东大会上提呈动议
(a)
股东可循下列程序于股东大会
上提呈有关董事选举之动议：
—
根据本公司组织章程细则
第
条，一名或多名持
有或合共持有本公司面值
不少于
5%
之任何类别已
发行股份之股东（并非拟
选任之人士）可通过向本
公司秘书发出书面通知提
名任何人士于本公司任何
股东大会上膺选董事：
•
表明拟提名某位人
士膺选；及
•
经由被提名人士签
署，表明其愿意膺
选。
(I) Shareholders’ Rights (Continued)
(i) Enquiries to the Board
Shareholders of the Company wil have the oportunity
to pose questions to the Board at general metings.
Shareholders of the Company may also make enquiries to
the Board in writing. Such enquiries shal be directed to “The
Board of Directors, Magnus Concordia Group Limited” by
one of the folowing means:
•By mail to:Units 02–03, 7/F, Tung Wai Comercial Building, 109–111 Gloucester Road, Wanchai,
Hong Kong
邮寄至香港湾仔告士打道
109–111
号东惠商业大厦
楼
02–03
室
•By email to:mcg-board@mcgrouphk.com
电邮至
•By facsimile to:(852) 2160 3080
传真至
The Board wil respond promptly to proper enquiries raised
by shareholders.
(i) Puting forward Proposals at
Shareholders’ Metings
(a) Shareholders may put forward proposals relating
to the election of Directors at general metings as
folows:
— Pursuant to Article 120 of the Articles of
Asociation of the Company, a shareholder
or shareholders (not being the person to be
proposed) who holds or colectively hold not les
than 5% in nominal value of the isued shares of
any clas of the Company may propose a person
for election as a Director at any general meting
of the Company by giving a notice in writing to the
secretary of the Company:
- /her/their intention to propose such
person for election; and
• signed by the person to be proposed of
his/her wilingnes to be elected.
Corporate Governance Report
企业管治报告
ANUAL REPORT 2025 • 二零二五年报69
(I) Shareholders’ Rights (Continued)
(i) Puting forward Proposals at
Shareholders’ Metings (Continued)
(a) Shareholders may put forward proposals relating
to the election of Directors at general metings as
folows: (Continued)
— The period for lodgement of such a writen
notice wil comence no earlier than the day
after the despatch of the notice of the general
meting and end no later than seven (7) days
prior to the date of such general meting. If
the notice is received les than fiften (15)
busines days prior to that general meting, the
Company wil ned to consider adjournment
of the general meting in order to (i) ases
the suitability of the proposed candidate;
and (i) publish an anouncement or circulate
a suplementary circular in relation to the
proposal to the shareholders at least fourten
(14) clear days and not les than ten (10)
busines days prior to the general meting.
— Any notice given for such proposal must
include such person’s information as may from
time to time be required to be disclosed under
Rule 13.51(2) of the Listing Rules in the event
that such person is elected as a Director or any
other aplicable laws, rules and regulations
which the Company may be subject to.
Curently, the folowing information are required:
- ;
• Positions held with the Company and
other members of the Group (if any);
(I)
股东权利（续）
(i)
于股东大会上提呈动议（续）
(a)
股东可循下列程序于股东大会
上提呈有关董事选举之动议：
（续）
—
该书面通知之送递须不
早于股东大会通告寄发
后翌日及不迟于有关股
东大会举行日期前七
(7)
日。若于该股东大会前少
于十五
(15)
个营业日收到
该通知，本公司将须考
虑后延股东大会以
(i)
评估
有关提名候选人是否适
合膺选；及
(i)
于股东大
会前至少十四
(14)
个整日
及不少于十
(10)
个营业日
就提呈股东之动议刊发
公布或寄发一份补充通函。
—
任何提名膺选董事之通
知均须载明上市规则第
13.51(2)
条或本公司所须
依从任何其他适用之法
律、规则及规例不时规
定（倘若被提名人士当选
董事）披露有关该位人士
之资料。目前，须载明之
资料如下：
•
全名及年龄；
•
在本公司及本集团
其他成员公司担任
之职位（如有）；
Corporate Governance Report
企业管治报告
Magnus Concordia Group Limited / 融太集团股份有限公司70
(I)
股东权利（续）
(i)
于股东大会上提呈动议（续）
(a)
股东可循下列程序于股东大会
上提呈有关董事选举之动议：
（续）
•
经验，包括
(i)
过去
三年在公众公司（其
证券在香港或海外
任何证券市场上市）
担任之其他董事职
位，及
(i)
其他主要
任命及专业资格；
•
服务本公司之年期
或建议服务年期；
•
与本公司任何董
事、高层管理人员
或主要或控权股东
之关系；
•
其于本公司股份之
权益（定义见证券
及期货条例第
XV
部）；
•
该位董事之酬金数
额及厘定有关酬金
之基准及服务合约
涵盖有关酬金数额
之比例；及
•
被提名人士发出之
声明，表明其目前
及过去均毋须受上
市规则第
13.51(2)(h)
至
(w)
条订明之任何
情况所规限，或若
任何一项或多于一
项该等条文适用于
该位人士，则提供
有关之详尽资料。
(I) Shareholders’ Rights (Continued)
(i) Puting forward Proposals at
Shareholders’ Metings (Continued)
(a) Shareholders may put forward proposals relating
to the election of Directors at general metings as
folows: (Continued)
• Experience including (i) other
directorships held in the last thre years
in public companies the securities of
which are listed on any securities market
in Hong Kong or overseas, and (i) other
major apointments and profesional
qualifications;
• Length or proposed length of service with
the Company;
- , senior
management or substantial or controling
shareholders of the Company;
- /her interests in shares of the
Company within the meaning of Part XV
of the SFO;
- ’s emoluments and
the basis of determining the Director’s
emoluments and how much of these
emoluments are covered by a service
contract; and
• A declaration by the nominated person
stating that he/she is not and has
not ben subject to any of the events
provided for under Rule 13.51(2)(h) to (w)
of the Listing Rules, or if any one or more
of these provisions are aplicable to him/
her, ful details thereof.
Corporate Governance Report
企业管治报告
ANUAL REPORT 2025 • 二零二五年报71
(I)
股东权利（续）
(i)
于股东大会上提呈动议（续）
(a)
股东可循下列程序于股东大会
上提呈有关董事选举之动议：
（续）
—
任何就此发出之通知可
通过下列其中一项途径
传达至「融太集团股份有
限公司之公司秘书」：
—
任何该等股东均须为有
权出席与所发通知有关
之大会并于会上投票之
股东。
(b)
就于股东大会上提呈任何其他
动议及有关于股东大会上提呈
动议之问题而言，股东可通过
下列其中一项途径以书面将所
有该等提问╱动议传达至「融
太集团股份有限公司之董事
会」：
(I) Shareholders’ Rights (Continued)
(i) Puting forward Proposals at
Shareholders’ Metings (Continued)
(a) Shareholders may put forward proposals relating
to the election of Directors at general metings as
folows: (Continued)
— Any notice given for this purpose shal be
directed to “The Company Secretary, Magnus
Concordia Group Limited” by one of the
folowing means:
•By mail to:Units 02–03, 7/F, Tung Wai Comercial Building, 109–111 Gloucester Road,
Wanchai, Hong Kong
邮寄至香港湾仔告士打道
109–111
号东惠商业大厦
楼
02–03
室
•By email to:mcg-board@mcgrouphk.com
邮寄至
•By facsimile to:(852) 2160 3080
传真至
— Any such shareholder(s) shal be one(s) that is/
are entitled to atend and vote at the meting
for which such notice is given.
(b) To propose to put forward any other proposals at
shareholders’ meting, and for questions relating to
puting forward proposals at shareholders’ metings,
shareholders could direct al such enquiries/proposals
in writing to “The Board of Directors, Magnus
Concordia Group Limited” by one of the folowing
means:
•By mail to:Units 02–03, 7/F, Tung Wai Comercial Building, 109–111 Gloucester Road,
Wanchai, Hong Kong
邮寄至香港湾仔告士打道
109–111
号东惠商业大厦
楼
02–03
室
•By email to:mcg-board@mcgrouphk.com
电邮至
•By facsimile to:(852) 2160 3080
传真至
Environmental,
Social and
Governance
Report
环境、社会及
管治报告
Environmental, Social and Governance Report
环境、社会及管治报告
ANUAL REPORT 2025 • 二零二五年报73
关于本报告
融太集团股份有限公司（「本公司」）及其附属公
司（统称「本集团」或「我们」）欣然提呈我们的环
境、社会及管治报告（统称「
ESG
报告」或「本报
告」）。通过汇报本集团于环境、社会及管治方
面的政策、措施及表现，以便持份者及时了解
本集团对可持续发展的承诺及有关进展。
报告范围
本环境、社会及管治报告涵盖期间为二零二四
年四月一日至二零二五月年三月三十一日（「本
年度」）。
由于我们的物业发展项目已经成功完成，故此
相关之环境社会管治政策及在任何新项目开始
前暂时停用。此报告将集中其他两个范畴，即
物业投资和印刷业务。除非另有指定，关键绩
效指标涵盖本集团位于香港的总部，以及一家
主要营运附属公司
—
广东省博罗县园洲勤达印
务有限公司。
报告准则
本环境、社会及管治报告内容严格遵守香港联
合交易所有限公司（「香港交易所」）证券上市规
则（「上市规则」）附录
C2
所载《环境、社会及管
治报告指引》（「
ESG
指引」）编写，并按照重要
性、量化、平衡以及一致性的汇报原则编写
。
有关企业管治的详情，请参阅载于本年报之《企
业管治报告书》。
About this report
Magnus Concordia Group Limited (the “Company”) and its subsidiaries
(colectively known as the “Group” or “we”) are pleased to present our
Environmental, Social and Governance report (colectively known as
“ESG report” or “this report”). By reporting the policies, measures and
performances of the Group in ESG aspects, we ensure al stakeholders
can fuly understand our comitments and progres towards
sustainable development.
Reporting boundary
This ESG report covers the period from 1 April 2024 to 31 March 2025
(the “Year”).
As our property development project has ben sucesfuly completed,
hence the related ESG policies have ben temporarily suspended
before any new project comences. This report wil concentrate on
other two areas, namely property investment and printing busineses.
The key performance indicators (“KPIs”), unles otherwise specified,
cover the Group’s headquarter in Hong Kong and the key operating
subsidiary — Guangdong Boluo Yuanzhou Midas Printing Limited.
Reporting standard
The content of this ESG report is prepared in strict compliance with
the requirement under Apendix C2 — Environmental, Social and
Governance Reporting Guide (“ESG Guide”) of Rules Governing the
Listing of Securities (the “Listing Rules”) on The Stock Exchange
of Hong Kong Limited (the “Stock Exchange”), folowing Reporting
Principles of materiality, quantitative, balance and consistency
. For
details of our corporate governance, please refer to the Corporate
Governance Report included in this anual report.
1 The definitions of materiality, quantitative, balance and consistency are quoted from
Apendix C2 — ESG Guide of the Listing Rules (formerly Apendix 27).
重要性、量化、平衡、一致性原则的定义摘自上市规
则附录
C2
所载《
ESG
指引》（前为附录二十七）。
Environmental, Social and Governance Report
环境、社会及管治报告
Magnus Concordia Group Limited / 融太集团股份有限公司74
关于本报告（续）
意见与反馈
我们十分重视持份者的建议，并欢迎读者通过
以下联络方式与我们联系。 阁下的意见将协助
我们进一步完善我们的报告及提升本集团的整
体可持续发展表现。
地址：香港湾仔告士打道
109–111
号
东惠商业大厦
楼
02–03
室
电话号码：
(852) 2160 3088
传真：
(852) 2160 3080
环境、社会及管治
本集团高度关注环境、社会及管治方面的表现，
深知环境保护、社会责任和良好的管治对企业
的长期成功和可持续发展至关重要。因此，我
们致力于确保公司遵守合规要求，建立负责任
的企业形象，以满足持份者的期望并为他们创
造持久价值。为实现可持续发展，董事会已将
环境、社会及管治相关元素纳入战略规划和运
营管理中。
良好有效的管治架构是实现可持续发展策略和
提升可持续发展表现的基础。董事会负责制定
可持续发展战略和管理政策、定期回顾与评估
本集团在企业责任、可持续发展与气候变化方
面的工作进程。董事会透过高级管理人员对环
境、社会及管治议题的工作汇报，全面掌握可
持续发展策略执行情况、管理政策的实施效果
等，确保风险管理和内部监控系统的有效运行。
董事会负责最终审批本环境、社会及管治报告，
并于本报告发表前覆核所披露的资料，以确保
报告内容的准确性与及时性。
董事会全面负责监督本集团的环境、社会及管
治相关风险和机遇，制定及采纳本集团的环境、
社会及管治相关战略与目标，对集团每年的业
绩与目标进行评估。同时，董事会将定期重审
目标的可行性，并在识别到绩效表现与目标出
现重大差异时，适时对战略、政策等进行修改，
助力可持续发展目标的实现。
About this report (Continued)
Opinion and fedback
We greatly value the sugestions from our stakeholders and encourage
readers to contact us through the folowing contact information. Your
sugestions wil help us further improve our reporting and enhance the
overal sustainable performance of the Group.
Adres:Units 02–03, 7/F, Tung Wai Comercial Building,
109–111 Gloucester Road, Wanchai, Hong Kong
Phone:(852) 2160 3088
Fax:(852) 2160 3080
ESG Governance
The Group places great emphasis to its ESG performance. We
recognize the importance of environmental protection, social
responsibility, and robust governance for the long-term suces and
sustainable development of the company. Therefore, we are comited
to ensuring compliance with regulatory requirements and establishing a
responsible corporate image to met the expectations of stakeholders
and create enduring value for them. To achieve sustainable
development, the board of directors (“the Board”) has incorporated
ESG elements into strategic planing and operational management.
A god and efective governance framework is the foundation to
achieving our sustainability strategy and raising continuous development
performance. The Board is responsible for the establishing sustainability
strategies and management policies, and regularly reviewing and
evaluating the Group’s work progres in corporate responsibility,
sustainable development and climate change. The Board via the senior
management work reports on ESG isues, monitors the execution
situation of the continuous development strategy, the implementation
efects of the management policies so as to ensure that the risk
management and internal control systems operate efectively. The Board
is responsible for the final aproval of this ESG report and to review the
information disclosed before publication to ensure the acuracy and
timelines of the content of the report.
The Board has an overal responsibility for overseing the Group’s
ESG-related risks and oportunities, establishing and adopting the
ESG-related strategies and targets of the Group, reviewing the Group’s
performance anualy against the targets, and revising the strategies
if significant variance from the target is identified to suport the
achievement of the Group’s sustainable development targets.
| Stakeholder Groups 持份者群体 | Key Concerns 关注重点 | Communication Channels 沟通渠道 |
|---|---|---|
| Customers 客户 | • Customer information and privacy protection 客户信息及隐私保护 • Customer health and safety 客户健康与安全 • Product and service quality 产品与服务质量 • Customer rights protection 客户权益保护 • Handling of customer complaints 客户投诉处理 | • Business visits 商务拜访 • Regular meetings 定期会议 • E-mail and telephone 电子邮件及电话 |
Environmental, Social and Governance Report
环境、社会及管治报告
ANUAL REPORT 2025 • 二零二五年报75
ESG Governance (Continued)
Acording to the World Economic Forum’s Global Risk Report 2024,
four out of the top ten global risks in the next ten years are related to
climate change. The Group is kenly aware of the significant impact
of climate change on busines development. To this end, we have
incorporated climate risk into our risk management system to enhance
our resilience and adaptability to potential climate change impacts. Al
potential risks that may have impact on the Group’s busines wil be
covered and evaluated in the anual enterprise risk asesment.
The board is responsible to comunicate with stakeholders to
understand their views on ESG isues and implement the ESG
strategy, for which materiality asesments on ESG isues are
conducted and the ESG isues are prioritized. Sustainability strategies
aplies to al levels of the Group.
Stakeholder engagement
The Group ataches great importance to stakeholder engagement,
establishes various comunication chanels to gather our
stakeholders’ opinions and sugestions related to our development
strategy and social responsibility, and maintains a close contact
with our stakeholders. Our core stakeholders include customers,
employes, supliers, investors, shareholders, regulators and
comunities.
客户投诉处理
环境、社会及管治（续）
根据世界经济论坛《
年全球风险调查》显
示，未来十年全球十大风险中，前四大风险都
与气候变化有关。本集团深刻认识到气候变化
对企业发展的重要影响。为此，我们已将气候
风险纳入我们的风险管理系统中，增强我们对
气候变化带来的潜在影响的应变能力及适应能
力。所有可能对本集团业务产生影响的潜在风
险将在年度企业风险评估中涵盖及进行评估。
董事会负责与持份者沟通以了解其对环境、社
会及管治议题的看法，落实环境、社会及管治
战略，对环境、社会及管治议题进行重要性评
估，并对环境、社会及管治进行优先排序。可
持续发展策略适用于本集团的各个层面。
持份者参与
本集团重视持份者的参与，建立多种沟通渠道，
收集各持份者对我们的发展策略及社会责任的
相关意见与建议，并与持份者保持密切联系。
我们的核心持份者包括客户、雇员、供应商、
投资者、股东、监管机构及社区。
| Stakeholder Groups 持份者群体 | Key Concerns 关注重点 | Communication Channels 沟通渠道 |
|---|---|---|
| Employees 雇员 | • Employee remuneration and benefits 雇员薪酬与福利 • Occupational health and safety 职业健康与安全 • Protection of employees’ legitimate rights and interests 保护雇员合法权益 • Training and career development 培训与职业发展 • Corporate culture 企业文化 | • Employee activities 雇员活动 • Employee performance appraisals 雇员绩效考核 • Employee training 雇员培训 • Internal meetings and notices 内部会议及通告 • Social media communication platform 社交媒体传播平台 |
| Suppliers 供应商 | • Supplier management and requirements 物料供应商管理及要求 • State of operations 经营状况 • Sustainable supply chain management 可持续供应链管理 | • Business visits 商务拜访 • Liaison through email and telephone 通过电子邮件及电话联系 • Meetings 会议 |
| Investors and Shareholders 投资者及股东 | • Financial performance disclosure 财务表现披露 • Corporate transparency 公司透明度 • Protection of rights and interests 权益保障 | • Information disclosed on the website of the Company and the Stock Exchange 于本公司及香港交易所网站披露之 信息 • General meetings and other shareholders meetings 股东大会及其他股东会议 |
| Regulators 监管机构 | • Compliance with laws and regulations 合法合规 • Corporate governance 企业管治 | • Periodic report 定期申报 • Compliance inspection 合规检查 |
| Communities 社区 | • Social welfare engagement 参与社会公益 • Support community development 支持社区发展 | • Community activities 社区活动 • Company website 本公司网站 |
Environmental, Social and Governance Report
环境、社会及管治报告
Magnus Concordia Group Limited / 融太集团股份有限公司76
持份者参与（续）
支持社区发展本公司网站
Stakeholder engagement (Continued)
Environmental, Social and Governance Report
环境、社会及管治报告
ANUAL REPORT 2025 • 二零二五年报77
Materiality asesment of ESG isues
The Group is aware of the importance of the ESG isues to
stakeholders. This Year, we continued to adopt the 22 ESG isues
and their materiality level confirmed in 2023 after reviewing the ESG
isues acording to market development, regulatory updates, and
comunications with stakeholders.
As indicated by the results of the materiality asesment in 2023,
the most concerning isues for various stakeholder groups of that
year were employe remuneration and benefits, ocupational health
and safety, customer security and privacy protection, protection of
intelectual property rights, anti-coruption management and training,
protection of employe rights and interests, customer service and
satisfaction, customer health and safety, employe management,
suply chain environmental and social risk management, and
construction and printing quality management.
Based on the materiality asesment results, the Group highlights the
disclosure of such ESG isues in the ESG report and enhance the ESG
work plan.
Environmental
The Group is comited to playing an active role in the sustainable
development of the environment, and adopting environmentaly-friendly
practices in daily operations. The Group strictly abides by the related
laws and regulations of the operating sites, e.g. the Environmental
Protection Law of the People’s Republic of China (
《中华人民共和
国环境保护法》
), the Law of the People’s Republic of China on the
Prevention and Control of Atmospheric Polution (
《中华人民共和国大
气污染防治法》
), the Sold Waste Polution Prevention and Control Law
of the People’s Republic of China (
《中华人民共和国固体废弃物污
染环境防治法》
) etc. to ensure the standardized treatment of sewage,
exhaust gas, solid waste and other environmental polutants, as wel as
the eficient use of energy and resources, and prevent adverse impacts
on the natural environment.
The Group was not aware of any material non-compliance with relevant
laws and regulations regarding air and grenhouse gas emisions,
water and land discharges and hazardous and non-hazardous waste
generation that had a significant impact on the Group this Year.
环境、社会及管治议题重要性评估
本集团知悉持份者环境、社会及管治议题的重
要性。本年度，我们根据市场发展、监管以及
与持份者的沟通，对
年度所确认的
项议
题进行重检，并决定继续沿用该等重要议题以
及重要性排序。
如
年重要性评估结果所示，该年度，各持
份者群体最重视的议题包括：雇员薪酬与福利、
职业健康与安全、客户信息及私隐保护、维护
及保障知识产权、反贪污管理与培训、雇员权
益保障、客户服务满意度、客户健康与安全、
雇员管理、供应链的环境与社会风险管理，以
及建筑与印刷质量管理等。
根据重要性评估结果，本集团在环境、社会及
管治报告中著重该等环境、社会及管治议题的
披露，并优化环境、社会及管治工作计划。
环境
本集团致力为环境可持续发展发挥积极的作用，
在日常运营中实践环保措施。本集团严格遵守
运营所在地的相关法律法规，例如《中华人民共
和国环境保护法》、《中华人民共和国大气污染
防治法》、《中华人民共和国固体废弃物污染环
境防治法》等，确保废水、废气、固体废弃物等
环境污染物的规范处理，以及能源与资源的高
效利用，防范对自然环境的不利影响。
于本年度内，我们并不知悉会对本集团造成重
大影响的有关空气及温室气体的排放、向水及
土地的排放以及对于产生有害及无害废弃物的
法律法规有任何重大违规情况。
Environmental, Social and Governance Report
环境、社会及管治报告
Magnus Concordia Group Limited / 融太集团股份有限公司78
环境（续）
本集团的环境相关目标包括降低碳排放、减少
有害及无害废弃物的产生，以及负责任地使用
能源、水资源、原材料等自然资源。鉴于地产
发展项目的规模、物料需求和建设阶段各不相
同，因此很难直接比较它们的碳排放水平。然
而，我们深刻意识到设定目标的重要性并已经
制定了具体的目标。
对于新的地产发展项目，我们设定了每年收益
碳排放量减少
5%
的目标。对于印刷业务，我们
设定了每年碳排放量减少
5%
的目标，并且力
求在
年相对于
年的基准下总体减少
25%
的碳排放量。
我们会定期审视目标的可行性，持续改善我们
的环境表现，为可持续发展做出贡献。
物业务
本集团物业务分为物业发展与物业投资业务。
本集团于中国大陆持有物业发展项目，在施工
过程进行环境管理。物业投资业务主要为写字
楼办公区及商业大厦管理，对环境与资源消耗
的影响相对有限。
本集团物业投资业务对环境影响主要来自办公
所耗用的能源与资源，以及所排放的废气、废
水及废弃物。
碳排放和能源管理
本集团物业投资业务的能源消耗主要用来自办
公产生的电力消耗。我们推广绿色办公理念并
鼓励员工利用网路，如：用视讯会议代替可避
免的差旅，以降低出行交通产生的能源消耗与
温室气体排放。使用公务车辆需进行登记以减
少不必要的出行。此外，我们严格管理办公区
域资源使用，规定雇员在非办公时间关灯及关
电源以节能。
Environmental (Continued)
The Group’s environment-related targets include the reduction of
carbon emisions, the minimization of hazardous and non-hazardous
waste generation and the responsible use of natural resources such
as energy, water resources and raw materials. As diferent property
development projects have diferent scales and material requirements,
it is dificult to compare their levels of carbon emisions. However, we
are kenly aware of the importance of seting targets and have set
specific targets.
For any new property development projects, we have set a target to
reduce 5% revenue-based carbon intensity per year. For the printing
busines, we aim to reduce carbon emisions by 5% per year and a
total of 25% in 2027 against a 2022 baseline.
We wil regularly review the feasibility of our targets and continue to
improve our environmental performance and contribute to sustainable
development.
Property busines
The Group’s property busines is divided into property development
and property investment busineses. The Group holds property
development projects in Mainland China and conducts environmental
management during the construction proces. The property investment
busines is mainly for the management of ofice premises and
comercial premises, with relatively limited impacts on the environment
and resource consumption.
The environment impact of the Group’s property investment busines
mainly comes from the energy and resources consumption by the
ofice, as wel as the emisions, wastewater, and wastes generated.
Carbon emision and energy management
The energy consumption of the Group’s property investment busines
mainly comes from the electricity consumption generated by the
ofice. We promote gren ofice concepts and encourage employes
to make use of the Internet, such as replacing avoidable travel with
video conferencing, to reduce energy consumption and grenhouse
gas emisions from travel. Registration for the use of oficial vehicles is
required to reduce unecesary travel. In adition, we strictly manage
the use of resources in the ofice area and require employes to turn
of lights and power suplies during non-ofice hours to save energy.
Environmental, Social and Governance Report
环境、社会及管治报告
ANUAL REPORT 2025 • 二零二五年报79
环境（续）
物业务（续）
废弃物管理
本集团物业投资业务的废弃物主要为生活废弃
物、少量的废墨水匣及硒鼓。生活废弃物由清
洁团队统一收集处理，废墨水匣及硒鼓等有害
废弃物则交由供应商妥善回收。
我们积极推广废物回收，以减少对环境的影响，
保护地球生态。回收活动包括：废弃咖啡胶囊
会被收集至供应商指定回收点，再循环再造成
新产品。
水资源使用及污水处理
本集团物业投资业务产生的废水主要为生活
污水。废水适当地排放至市政污水管道进行处理。
印刷业务
为提升环境管理水准，本集团印刷业务已制定
规范的环境管理措施，并按各类环境管理体系
标准，建立了《质量与环境管理手册》、《
BRC
管
理手册》、《
FSC COC
管理手册》等制度。此外，
由协力厂商认证机构进行定期就
ISO14001:2015
环境管理体系标准及
ISO14001:2015
质量管理
体系标准进行认证，以确保我们的环境管理体
系的持续有效性。为了提升本集团的环境管理
水平，本集团通过识别与管理重大环境风险、
建立系统化的环境管理流程、及持续检查与审
视管理策略，致力达至「策划
—
实施
—
检查
—
改进」动态循环的环境管理体系。
Environmental (Continued)
Property busines (Continued)
Waste management
The waste of the Group’s property investment busines mainly consists
of domestic waste, a smal amount of waste ink cartridges and toner
cartridges. Domestic waste is colected and procesed by the cleaning
team, and hazardous waste such as waste ink cartridges and toner
cartridges are handed over to supliers for properly recycling.
We actively promote waste recycling to reduce the impact on the
environment and protect the earth’s ecology. Recycling activities
include: waste cofe capsules are colected at the suplier’s
designated colection point and recycled into new products.
Use of water resources and treatment of sewage water
The sewage generated by the Group’s property investment busines
is mainly domestic sewage. Sewage is apropriately discharged to
municipal sewage pipeline for treatment.
Printing busines
To enhance the standard of the environmental management, the Group
has established standardised environmental management measures for
the printing busines, and developed the “Quality and Environmental
Management Manual”, the “BRC Management Manual”, the “FSC COC
Management Manual” and other policies in acordance with various
standards of environmental management systems. In adition, regular
certifications on ISO14001:2015 Environmental Management System
Standard and Quality Management System Standard are performed by
third-party certification authority to ensure the continuous efectivenes
of our environmental and quality management systems. In order to
continuously enhance the environmental management standards of
the Group, the Group strives to drive a “planing — performance
— inspection — improvement” dynamic cycle of the environmental
management systems, through identifying and managing the
material environmental risks, establishing systematic environmental
management proces and continuously inspecting and reviewing the
management strategies.
Environmental, Social and Governance Report
环境、社会及管治报告
Magnus Concordia Group Limited / 融太集团股份有限公司80
环境（续）
印刷业务（续）
废气排放管理
印刷业务生产流程中的印刷工序及烫金工序会
产生挥发性有机化合物
(VOCs)
。我们严格执
行广东省《印刷行业挥发性有机化合物排放标
准》（
DB44/815-2010
）第二时段二类限值标准，
并按标准建立了利用生物净化法的
VOCs
排放
专业处理设施。相关设施将收集、处理及排放
VOCs
。我们也设置了吸附装置，以吸收逸散的
VOCs
。
为了更有效地管理和控制
VOCs
的排放，我们已
委托了外部专业环境监测机构进行定期
VOCs
排放（如：苯、甲苯等）监测，确保
VOCs
排放水
平在排放限值之内。我们设立了专项
VOCs
处
理设施维护资金，并已于本年度对
VOCs
处理
设施受损部件进行维修、更新及评估。我们亦
邀请了外部专业机构提供设施维护及更新服务。
本集团印刷业务不断提升生产工序及改进原
材料的选用，如考虑到石油墨易蒸发溢散，
我们选择大豆油含量更高的油墨代替，以减少
VOCs
排放。
本集团印刷业务员工食堂安装了油烟废气过滤
系统，以降低废气中油滴含量及空气污染。我
们亦定期对固定设备及公务车辆进行检修及保
养，保证其正常操作，以降低其产生的硫氧化
物、氮氧化物及微粒等空气污染物排放。
Environmental (Continued)
Printing busines (Continued)
Air emision management
Volatile organic compounds
(“VOCs”) are generated during the printing
and bronzing procedures during the production proces of the printing
busines. We strictly implement the Stage I Level 2 limit requirements
of the Guangdong Province’s “Emision Standard of Volatile Organic
Compounds for Printing Industry” (
《印刷行业挥发性有机化合物
排放标准
DB44/815-2010
》
) and have established a profesional
treatment facility using biological purification technology for VOCs
emision acording to the standard. VOCs are colected, treated and
discharged. We also set up an adsorption device to absorb the spiled
VOCs.
In order to manage VOCs emision eficiently, we delegated an
external profesional testing organization to perform regular VOCs
emision testing to ensure the VOCs emision (such as benzene and
toluene, etc.) is within the VOCs emision limits. We have set up a
dedicated fund for the maintenance of our VOCs treatment facilities
and have caried out maintenance, renewal and asesment of the
damaged parts of our VOCs treatment facilities during the year. We
have also invited external profesional organizations to provide facility
maintenance and renewal services.
Our printing busines continuously enhances the production proces
and improves the raw material selection. For example, considering the
petroleum ink is prone to evaporate and disperse, they are replaced by
the higher content of soy ink to reduce the VOCs emision.
An oily fume and exhaust gas filtration system is instaled in the staf
canten of our printing busines to reduce the oil droplets in the
exhaust gas and air polution. We also perform regular inspection and
maintenance for the fixed equipment and oficial vehicles to ensure
they function properly so as to reduce air polutant emisions such as
sulphur oxide, nitrogen oxide and particles.
2 Volatile organic compounds (VOCs), acording to the definition by the World
Health Organization (WHO), are various organic compounds with a boiling point of
℃
to 260
°
C at rom temperature, VOCs contributes to the formation of ozone
and secondary aerosols in the atmospheric environment which has an impact on
regional atmospheric ozone polution and PM2.5 polution.
挥发性有机物，根据世界卫生组织
(WHO)
的定义，
VOCs (volatile organic compounds)
是在常温下，沸点
℃至
℃的各种有机化合物。
VOCs
导致大气环境
中臭氧和二次气溶胶的形成，其对区域性大气臭氧污
染、
PM2.5
污染具有影响。
Environmental, Social and Governance Report
环境、社会及管治报告
ANUAL REPORT 2025 • 二零二五年报81
环境（续）
印刷业务（续）
碳排放与能源管理
我们积极回应国家节能减排倡议，通过具体的
行动和措施提高能源使用效率，降低运营层面
的碳排放。为了有效实现节能降耗目标，我们
的印刷业务已建立相关的管理制度，例如《节能
减排政策》。
除了战略性的节能措施之外，我们还实施了以
下措施，以进一步促进能源节约和减少碳排放：
•
采购时优先选用节能的灯具、设施及设备；
•
定期维护保养设施设备，改善工艺流程、
合理安排工序以降低能源浪费；
•
在生产车间、办公室及员工宿舍安装单独
电表，监控用电，及时解决不合理的用电；
•
宣导绿色办公理念，对员工开展节能培
训，教育员工养成关闭不须用的电器、夏
季保持空调合理温度等良好习惯。
废弃物管理
本集团印刷业务依照《一般工业固体废弃物贮
存和填埋污染控制标准》（
GB18599-2020
）及《危
险废物焚烧污染控制标准》（
GB18484-2020
）的
有关要求，制定了《固体废弃物管理制度》、《废
旧印张等报废处理规定》、《办公用品及原辅料
退仓回收控制规程》等制度，分类处理固体废弃
物，以提升回收率，防止危险废弃物造成环境
污染。
Environmental (Continued)
Printing busines (Continued)
Carbon emisions and energy management
We actively respond to the national energy conservation and emision
reduction initiatives by improving energy eficiency and reducing carbon
emisions in our operational proceses through concrete actions
and measures. In order to efectively achieve our energy-saving and
consumption reduction targets, our printing busines has established
relevant management systems, such as the “Energy Conservation and
Emision Reduction Policy.”
In adition to strategic energy-saving measures, we have implemented
the folowing initiatives to further promote energy conservation and
reduce carbon emisions:
- , facilities and
equipment;
- ,
enhancing proces flow, and aranging proceses reasonably to
reduce energy wastage;
- , ofice
and staf dormitory to monitor the electricity consumption and
solve unreasonable power consumption in a timely maner;
- , carying out energy-
saving trainings for employes, and educating employes to
develop habits such as turning of unecesary apliances and
maintaining reasonable air-conditioning temperatures in sumer.
Waste management
In acordance with the relevant requirements of the “General Industrial
Solid Waste Storage and Landfil Polution Control Standards” (
《一般
工业固体废弃物贮存和填埋污染控制标准》
/GB18599-2020) and
“Hazardous Waste Incineration Polution Control Standards” (
《危险
废物焚烧污染控制标准》
/GB18484-2020), our printing busines has
implemented the policies such as “Solid Waste Management Policy”,
“Disposal Procedures on Scraped Printed Paper” and “Returning and
Recycling Control Procedures of Ofice Suplies and Raw and Auxiliary
Materials”, to clasify and dispose solid waste, to increase recycling
rate and prevent environmental polution caused by hazardous waste.
Environmental, Social and Governance Report
环境、社会及管治报告
Magnus Concordia Group Limited / 融太集团股份有限公司82
环境（续）
印刷业务（续）
废弃物管理（续）
本集团印刷业务委托专业回收公司处理生产废
料、废弃包装材料、废弃电脑、废弃办公室家
俱及其他设备，以提高资源的重复利用率。我
们在存放和运送废弃物时，严格遵守相关规定，
并定时运至政府指定地点废弃。
我们深刻认识到有害废弃物对环境和公共健康
可能带来的严重风险，并高度重视对有害废弃
物的管理。针对印刷业务生产过程中产生的有
害废弃物，我们设置了符合规定的专门存放场
所，为包装物进行分类标识、隔离、储存及记
录，委托具有专业处理资质的公司为废弃物进
行无害化处理。此外，我们每年审视及更新《危
险废弃物管理计划》，以确保所有危险废弃物
妥善存储及处理，确保相关措施符合规要求，
降低对环境产生的影响。
Environmental (Continued)
Printing busines (Continued)
Waste management (Continued)
Our printing busines entrusts a profesional recycling company
to handle production waste, waste packaging materials, discarded
computers, waste furniture and other equipment to increase the
resources recycling rate. We strictly folow the relevant regulations on
the storage and disposal of wastes, and we regularly dispose wastes
at government-designated disposal sites.
We deply recognize the significant risks that hazardous waste
can pose to the environment and public health, and we place
great importance on the management of hazardous waste. For the
hazardous waste generated in the production proces, we designate
dedicated storage locations which fulfil the requirements, and clasify,
isolate, retain and record the packaging materials. We entrust a
company with profesional qualifications to perform harmles proces
for the waste. In adition, we review and update the “Hazardous Waste
Management Plan” anualy to ensure that al hazardous wastes are
properly retained and procesed, comply with relevant regulations and
laws to minimize the impact on the environment.
Recyclable production materials
可回收利用的生产原料
Environmental, Social and Governance Report
环境、社会及管治报告
ANUAL REPORT 2025 • 二零二五年报83
Environmental (Continued)
Printing busines (Continued)
Use of water resources and sewage treatment
Major usage of water resources in our printing busines include water
consumption for ofice and printing production. Water is sourced from
the municipal water suply. By implementing the “Water Conservation
Management Policy” and various water-saving measures, we are
comited to enhancing water eficiency in our production proceses.
We perform regular inspection and maintenance of the water facilities
to prevent water wastage. An external profesional testing organization
is entrusted to perform regular sewage emision testing to ensure the
sewage emision is within the emision limits.
We strictly folow the relevant national laws and regulations on
sewage discharge and has implemented relevant policies such as the
“Regulations on the Administration of Polutant Discharge Permits”.
Our printing plant holds a “Sewage Discharge Permit”, and the
sewage discharge is mainly domestic sewage. In acordance with
local government requirements, we have obtained the aceptance
permit for the “Rainwater and Sewerage Diversion Project” in 2021.
The relevant domestic sewage is conveyed to the Yuanzhou Sewage
Treatment Plant through the municipal pipe network and discharged
after undergoing a series of sewage treatment procedures to ensure
compliance with the discharge standards.
Production sewage mainly comes from the printing busines, punching
and stretching proceses, includes ink sewage and other types of
sewage. Sewage is colected in a dedicated sewage station through
the pipeline. After reaching a certain amount, an external company with
profesional qualifications would be contacted for sewage treatment,
so that there was no external emision of production sewage.
环境（续）
印刷业务（续）
水资源使用与污水处理
本集团印刷业务用水包括办公室及印刷生产用
水。水源取自市政供水。通过落实《节约用水管
理制度》及各项节水措施，我们致力于提升生产
过程中的用水效率。我们定期对用水设施进行
检查及维护，防止浪费水资源。我们委托了外
部专业环境监测机构进行定期污水监测，确保
污水排放在排放限值之内。
我们严格遵循国家污水排放相关法律法规，并
落实《排污许可管理条例》等制度。集团印刷厂
持有《排污许可证》，污水排放主要为生活污水。
按照当地政府要求，我们已于
年取得「雨
污分流工程项目」验收批文，相关生活污水通过
市政管网输送至园洲污水厂，经过一系列污水
处理程序后排放，确保符合排放标准。
印刷业务生产所产生的污水主要来自印刷冲网
晒版工序，包含油墨污废水及其他类型污水。
污水会经管道统一收集到专门的污水站。达到
一定量后联系外部具有专业资质的公司处理，
致使整个过程不会发生任何污水的外排。
Environmental, Social and Governance Report
环境、社会及管治报告
Magnus Concordia Group Limited / 融太集团股份有限公司84
环境（续）
印刷业务（续）
环境及天然资源
作为木材产业链的一环，我们深明森林资源管
理的重要性。为了支持可持续的森林经营，确
保森林资源得到有效的保护和管理，本集团的
印刷业务已获得森林管理委员会
(FSC)
产销监
管链
(COC)
标准认证
，并已建立自原材料采购
至产品交付全流程标准管理程序，确保我们生
产的产品符合
FSC
的要求。在使用天然资源的
同时，我们致力于对生物多样性的保护，支持
对环境友好、对社会有益，并且具有经济性的
森林资源管理。实行绿色采购方面，我们选用
获得
FSC
认证的原料。
生产噪声管理
本集团印刷业务根据《工业企业厂界环境噪声
排放标准》（
GB12348-2008
）进行噪声排放管理，
为了减低噪声排放对周边环境的影响，在存放
压缩机及印刷机的厂房设置了隔音、消音、吸
音及减震装置。我们委托了外部专业环境监测
机构进行定期噪声监测，确保噪声排放在排放
限值之内。
Environmental (Continued)
Printing busines (Continued)
Environment and natural resources
Being part of the timber industrial chain, we deply acknowledge the
significance of the forest resource management. To suport sustainable
forest management and ensure efective protection and management
of forest resources, our printing busines has obtained the Forest
Stewardship Council (FSC)
Chain-of-Custody (COC) Standard
Certification
and established standardised management procedures
starting from raw material procurement to product delivery proceses,
to ensure the our products folow the FSC requirements. While
consuming the natural resources, we are comited to preserving
biodiversity, encouraging forest resources sustainability, and promoting
environmental-friendly, social-beneficial and economical-viable forest
resources management. In implementing gren procurement, we
chose FSC-certified raw materials.
Production noise management
Our printing busines folows the “Industrial Enterprises Environmental
Noise Emision Standard” (
《工业企业厂界环境噪声排放标准》
/
GB12348-2008) to manage noise emision. In order to lower the noise
emision impact to the surounding environment, sound insulation,
sound abatement, sound absorption and vibration reduction devices
are instaled in the printing plant where the compresors and the
printing machines are located. An external profesional testing
organization is entrusted to perform regular noise emision testing to
ensure the noise emision is within the emision limits.
3 Found in 1993, the FSC is an international, non-profit, non-government organization
advocating environmentaly responsible, socialy aceptable, and economicaly
viable ways of managing the world’s forests.
4 The FSC COC certification identifies the entire chain of production, procesing and
circulation of a wod procesing enterprise to ensure that the products which are
sold with an FSC claim originate from wel-managed forests. After obtaining the
certification, the enterprise has the right to display the FSC name and logo on its
products, namely the FSC COC certification label.
3 FSC
创建于
年，是一个国际性、非营利、非政府
组织，倡导已对环境负责、被社会接受和经济可行的
方式来经营全球森林。
4 FSC COC
认证是对木材加工企业的各个生产环节、加
工到流通整个链条进行鉴定，以确保销售产品源自经
过
FSC
认证管理良好的森林。取得认证后，企业有权
在其产品上标示
FSC
名称及标识，即
FSC COC
认证的
标识。
Environmental, Social and Governance Report
环境、社会及管治报告
ANUAL REPORT 2025 • 二零二五年报85
环境（续）
气候变化
本集团深刻了解气候变化不止改变自然环境，
而且正在改变营商环境，对我们的运营、供应
链及城市基础设施、市场需求等均产生影响。
作为负责任的企业，本集团在生产及运营密切
关注与业务相关的气候变化风险，评估其对业
务持续性的影响，充分识别潜在挑战与机遇，
准备应对气候危机与低碳时代。
为了应对气候变化，我们主动采取了多项措施：
•
按
ISO14001:2015
环境管理系统的要求执
行标准化管理程式，减低环境变化对运营
的影响；
•
在施工及生产过程中，严格遵循环境相关
规定，并通过技术升级、设施设备维护与
改造等方式，提高能源效率，减少温室气
体排放；
•
优先选用绿色环保产品，注重本地化采购
以减低运输过程中的碳排放；
•
制定《业务连续性计划》，以保障业务连续
性及员工安全。
展望未来，我们将持续完善气候变化相关风险
的识别、评估及管理，以提高公司在策略、业
务及财务方面的应对能力。
Environmental (Continued)
Climate change
The Group deply understand that climate change is not only altering
the natural environment but also impacting the busines environment,
including our operations, suply chains, urban infrastructure and
market demand, etc. Being a responsible corporate, the Group pays
close atention to busines related climate change risks in production
and operations, evaluates its impact on busines continuity, fuly
identifies potential chalenges and oportunities and prepares for the
climate crisis and the low-carbon era.
To adres climate change, we have proactively taken multiple
measures:
• Implementing standardized management procedures acording
to the requirements of ISO14001:2015 environmental
management systems to reduce the impact of environmental
changes on operations;
• Complying with relevant environmental regulations strictly during
the construction and production proces, and improve energy
eficiency and reduce grenhouse gas emisions through
technological upgrades, facility maintenance and transformation
of the facilities and equipment;
- ,
focus on localized procurement to reduce carbon emisions
during transportation;
• Establishing Busines Contingency Plans (BCP) to ensure
busines continuity and employe safety.
Loking forward, we wil continue to improve the identification,
asesment and management of the climate change-related risks to
enhance the company’s strategic, busines and financial resilience.
Environmental, Social and Governance Report
环境、社会及管治报告
Magnus Concordia Group Limited / 融太集团股份有限公司86
环境（续）
气候变化（续）
印刷业务气候变化管理
气候变化将导致极端天气变得更加频繁及严重，
例如热浪、台风、极端降雨等，这些都会对湿
度产生巨大影响。我们的印刷业务对温度和湿
度较为敏感。高温可能导致书刊及彩盒产品开
胶变形，亦可能使印刷机器产生高热量，增加
能源消耗。潮湿会对印刷品油墨造成起皮，可
能导致机器故障。应对气候变化，我们已实施
《环境风险应急预案》及增加通风系统及保持车
间的恒温性等措施。
雇佣及劳工常规
我们深知关爱员工的雇佣措施是企业实现长
期成功和可持续发展的基础。通过保障员工的
合法权益，不断优化人力资源管理，我们致力
于为员工创造一个和谐共融，具有归属感的工
作环境。
本集团严格遵守《中华人民共和国劳动法》、《中
华人民共和国劳动合同法》、《雇佣条例》（香港
法例第
章）、《最低工资条例》（香港法例第
章）、《强制性公积金计划条例》（香港法例
第
章）等相关法律法规。
于本年度，本集团并不知悉有关薪酬及解雇、
招聘及晋升、工作时数、假期、平等机会、多
元化、反歧视以及其他待遇及福利的相关法律
法规有任何重大违规情况。
雇员招聘与晋升
本集团遵从雇佣相关法律法规与根据实际情况，
制定了《人力资源管理制度》、《雇员手册》等制
度。我们积极透过互联网、人才市场、中介等
渠道展开招聘活动，为集团吸纳新生力量，扩
充人才储备。
本集团本年度的雇佣数据可参考附录
I ESG
关
键绩效指标。
Environmental (Continued)
Climate change (Continued)
Climate change management of printing busines
Climate change is causing more frequent and severe extreme weather
events such as heatwaves, typhons, and heavy rainfal, which greatly
impact humidity levels. Our printing busines is particularly sensitive
to temperature and humidity. High temperature may lead to bonding
gap or deformation of the boks and color box products and may
cause the printing machines generating high heat and increase energy
consumption. High humidity may lead to peling of the printed ink
which may lead to machine malfunction. To cope with climate change,
we have implemented “Environmental Risk Contingency Plan” and
measures such as increasing ventilation systems and maintaining a
constant temperature in the production flor.
Employment and labour practices
We deply understand that caring for our employes and implementing
apropriate employment measures are the foundation for achieving
long-term suces and sustainable development in a company. By
safeguarding the legitimate rights and interests of our employes
and continuously optimizing human resources management, we are
comited to creating a harmonious and inclusive work environment
that fosters a sense of belonging.
The Group strictly abide by the “Labour Law of the People’s Republic
of China” (
《中华人民共和国劳动法》
), the “Law of the Peoples
Republic of China on Employment Contracts” (
《中华人民共和国劳
动合同法》
), the “Employment Ordinance” (
《雇佣条例》
/Cap 57), the
“Minimum Wage Ordinance” (
《最低工资条例》
/Cap 608), (
《强制性公
积金计划条例》
/Cap 485) and other relevant laws and regulations.
The Group was not aware of material non-compliance with relevant
laws and regulations on compensation and dismisal, recruitment and
promotion, working hours, rest periods, equal oportunity, diversity,
anti-discrimination and other benefits and welfare in the Year.
Recruitment and promotion
The Group has established the “Human Resources Management
Policy”, the “Employe Handbok” and other policies in compliance
with the employment-related laws and regulations and acording to
the actual situation. We actively cary out recruitment activities through
internet, talent market, intermediaries and other chanels to atract
new forces for the Group and expand our talent pol.
The employment data of the Group in the Year can be refered to
Apendix I ESG Key Performance Indicator.
Environmental, Social and Governance Report
环境、社会及管治报告
ANUAL REPORT 2025 • 二零二五年报87
Employment and labour practices (Continued)
Recruitment and promotion (Continued)
The Group rationaly planed promotion chanels, established vertical
and horizontal promotion oportunities, and provided employes with
diversified development oportunities. We conduct multi-dimensional
asesments on employes to ensure that outstanding talents have
suficient oportunities to be identified and promoted. For the talents
who have not ben promoted, we provide training to employes for
their personal development, laying a god foundation for the stable
development of the Group’s busines.
Remuneration and benefits
The Group has established the “Employe Benefits and Alowance
Management Policy”, the “Employe Performance Apraisal Policy”
and other policies in compliance with the employment-related laws and
regulations and acording to the actual situation. We implement “To
each acording to his contribution” and “equal pay for equal work”. We
provide alowances to eligible employes, pay various social insurances
for employes on time, and ensure that employes are entitled to
paid anual leaves. We also provide various types of benefits to our
employes, such as: improving acomodation environment and
meals, providing recreational activities, etc., to promote mutual respect
and a harmonious working environment.
The Group evaluates employes in terms of work atitude, work
quality, technical level, management skils, colaborative spirit, civilized
discipline, etc., to ensure the fairnes of employe remuneration
and to atract outstanding talents. The department head interviews
the employes on the performance apraisal results, evaluates the
employe’s work performance, and listens to the opinions of the
employes, so as to promote the comon enhancement of the
employes and the Group.
Social Responsibility Management
Our printing busines has implemented the “Social Responsibility
Management Manual” and has obtained SA 8000:2014 Social
Acountability (SA)
certification. We regard employes as the
cornerstone of corporate development, and provide employes with a
fair and equitable working environment and a development platform for
realizing value.
5 SA 8000, abreviation for Social Acountability 8000 International Standard, is
social acountability international standard, its purpose is to ensure the products
suplied by the corporate fulfil the social acountability standards.
雇佣及劳工常规（续）
雇员招聘与晋升（续）
本集团合理规划晋升渠道，设置纵向及横向职
级晋升机会，赋予雇员多样化的发展机会。我
们对雇员进行多维度的测评，确保优秀人才有
足够机会被识别及提拔。对未获晋升的人才，
我们提供雇员个人发展培训，为集团业务稳定
发展奠定良好基础。
薪酬与福利
本集团遵从雇佣相关法律法规与根据实际情况，
制定了《员工福利及津贴管理制度》、《员工绩
效评估制度》等制度。我们实行按劳分配、同工
同酬。我们为符合条件的雇员提供给工作津贴，
按时为雇员缴纳各项社会保险，保证雇员享受
有薪年假。我们亦为雇员提供了不同种类福利，
例如：改善住宿环境及伙食、提供娱乐活动等，
致力促进互相尊重及和谐的工作环境。
本集团从工作态度、工作品质、技术水准、管
理技巧、协作精神、文明纪律等各方面对雇员
进行考核，保障雇员薪酬的公平性以吸引优秀
人才。部门负责人就绩效考核结果与雇员面谈，
针对雇员的工作表现评价，并聆听雇员意见，
促进雇员与本集团共同进步。
社会责任管理
本集团印刷业务已实施《社会责任管理手册》，
并取得
SA 8000:2014
社会责任标准
认证。我
们视员工作为企业发展的基石，并为员工提供
公平公正的工作环境及实现价值的发展平台。
5 SA 8000
为
Social Acountability 8000 International
Standard
的英文简称，为社会责任国际标准，其宗旨
是确保企业供应的产品符合社会责任标准。
Environmental, Social and Governance Report
环境、社会及管治报告
Magnus Concordia Group Limited / 融太集团股份有限公司88
雇佣及劳工常规（续）
雇员日常福利
我们为员工提供多种福利，关注员工身心健康，
体察照顾员工的情绪。香港办公室设立了「零食
加油站」，为员工提供多种饮品和零食，
让雇员
在忙碌工作中放松身心。在节庆季节，我们为
员工准备节庆礼物，以表达对他们辛勤工作和
奉献的感激之情。
雇员节日同庆
为了让雇员在工作之余放松身心，并增进雇员
间的情感交流，本集团于不同节日举办庆祝活
动，与雇员同乐，一同感受节日气氛。此外，
本集团印刷业务于节日向雇员派发节日礼品，
如：端午粽子、中秋月饼、饮料及水果等。
雇员发展及培训
本集团高度关注员工能力培养及职业发展，搭
建了丰富全面的培训管理体系。通过课堂教学、
现场教学、网路研讨会、提供培训资料等多种
形式，为员工提供不同业务层面、不同主题的
多元化培训，全方面提升员工的知识与技能。
Employment and labour practices (Continued)
Employe daily benefits
We provide our employes with various benefits and prioritize their
physical and mental wel-being. We also pay atention to the emotional
care of our employes. In our Hong Kong ofice, we have set up a
snack bar to provide a variety of beverages and snacks, alowing
employes to relax and unwind during busy work hours. During festive
seasons, we prepare holiday gifts for our employes to expres our
gratitude for their hard work and dedication.
Employe festive celebration
In order to alow employes to relax from their work and enhance
the intercourse among employes, the Group organised celebration
activities on diferent festivals to enjoy the festive atmosphere together.
In adition, festival gifts were distributed to employes during festivals,
such as Dragon Boat rice dumplings, Mid-Autumn moncakes,
beverages and fruits.
Group New Year celebration activities
集团新年庆祝活动
Employe development and training
The Group places great importance on the development of its staf’s
abilities and carer growth, and has established a comprehensive
and robust training management system. Through a combination of
clasrom teaching, on-site training, webinars, and the provision of
training materials, the Group ofers diverse training oportunities to its
employes acros various busines levels and topics. These initiatives
aim to enhance their knowledge and skils in al aspects, ensuring
continuous improvement and profesional development.
Environmental, Social and Governance Report
环境、社会及管治报告
ANUAL REPORT 2025 • 二零二五年报89
雇员发展及培训（续）
本集团印刷业务制定年度培训计划，按培训对
象与目的将培训分为六大类，包括：新雇员入
职培训、企业文化培训、安全及体系培训、专
业技能培训、管理技能培训与职业发展培训。
通过一系列培训和能力建设活动，加强员工的
职业健康与安全意识，建设良好企业文化，提
升员工的职业技能，从而进一步提升业务核心
竞争力。为提升培训质量，人资行政部于培训
结束后向参与的雇员发放问卷收集反馈意见，
以优化培训内容。
印刷知识培训
在主题培训方面，本集团印刷业务会向生产及
品控部的前线雇员提供印刷知识及品控培训，
使雇员更深入地了解生产及品控流程及更新其
相关知识。品质控制培训向雇员明确了产品质
量要求，帮助相关员工通过运作质量流程控制
系统来保证高品质产品的生产。
本集团本年度的培训数据可参考附录
I ESG
关
键绩效指标。
Employe development and training
(Continued)
The printing busines of the Group establishes anual training plans,
which are divided into six categories acording to the training targets
and purposes, including new employe orientation training, corporate
culture training, safety and system training, profesional skils training,
management skils training and carer development training. Through
a series of training and capacity-building activities, we strengthen
employes’ awarenes of ocupational health and safety, foster a
positive corporate culture, and enhance employes’ profesional
skils. This, in turn, further enhances the core competitivenes of our
busines. To enhance the quality of training, the Human Resources
department distributes questionaires to the participants after training
to colect fedback to optimize the training content.
Printing knowledge training
In terms of thematic training, the printing busines of the Group
provides printing knowledge and quality control training for the frontline
employes of the production and quality control department, so that
employes can have a deper understanding of the production and
quality control proces and update their relevant knowledge. The
quality control training provides employes with a clear understanding
of product quality requirements and helps relevant staf ensure the
production of high-quality products through the implementation of
quality control proceses.
Printing knowledge and quality control training
印刷知识及质量控制培训
The training data of the Group in the Year can be refered to Apendix
I ESG Key Performance Indicator.
Environmental, Social and Governance Report
环境、社会及管治报告
Magnus Concordia Group Limited / 融太集团股份有限公司90
职业安全与健康
本集团将雇员的安全与健康放在首位，严格遵
守《中华人民共和国职业病防治法》、《中华人
民共和国安全生产法》、《中华人民共和国消防
法》、《职业安全及健康条例》（香港法例第
章）
等法律法规。本集团亦积极改善健康安全管理
措施，为雇员营造安全健康的工作环境。
于本年度内，本集团并不知悉任何有关提供安
全工作环境及保障雇员避免职业性危害的重大
违规情况。
安全生产
本集团印刷业务聚焦职业健康与安全，根据
《
SA8000
社会责任管理手册》制定了《环境健康
安全政策》等制度。我们将持续提升职业健康安
全标准，
将职业健康与安全纳入营运的基本考
量中。同时，印刷业务建立了由管理层代表和
工人代表组成的健康安全委员会，委派环境健
康安全事务统筹员，定期对工作场所的健康和
安全风险进行评估，并对潜在安全隐患进行整
改，以保障安全生产环境。我们还成立安全稽
查小组，由安全专员定期对消防设备及通道、
安全操作、使用劳保防护设备、职业病风险、
设备操作规程等进行巡检，以及时识别、制止
和纠正不当操作和高风险行为。
本集团采取安全管理机制，加大现场安全巡查
力道，并响应政府环保要求及疫情防控等培训，
完成了触电、高坠以及防火的应急演练，按需
要组织职业健康与安全检查。
Ocupational safety and health
Placing employes’ safety and health as the top priority, the Group
strictly abides by the Law of the People’s Republic of China on the
Prevention and Control of Ocupational Diseases (
《中华人民共和国
职业病防治法》
), the Production Safety Law of the People’s Republic
of China (
《中华人民共和国安全生产法》
), the Fire Control Law of
the People’s Republic of China (
《中华人民共和国消防法》
), the
Ocupational Safety and Health Ordinance in Hong Kong (
《职业安全
及健康条例》
/Cap 509), and other relevant laws and regulations. The
Group also actively enhances safety management measures to provide
a healthy and safe working environment for employes.
During this Year, the Group was not aware of any material non-
compliance with laws and regulations relating to the workplace safety
and the protection of employes from ocupational hazards.
Safe production
Our printing busines within the group is dedicated to ocupational
health and safety. We have developed systems such as the
“Environmental Health and Safety Policy” in acordance with the
“SA8000 Social Responsibility Management Manual.” We are
comited to continuously improving ocupational health and safety
standards and integrating them as fundamental considerations in our
operations. At the same time, the printing busines has set up a Health
and Safety Comite consisting of the management representatives
and worker representatives. It apointed cordinators to deal with
environmental health and safety afairs. Those cordinators evaluate the
health and safety risks in the workplace on a regular basis and rectify
potential safety hazards, to ensure a safe production environment.
We also set up a safety inspection team to perform inspections
regularly on the safety production, such as fire-fighting equipment and
pasage, operation safety, use of the personal protective equipment
(PE), ocupational disease risks, and the operating procedures of the
equipments, in order to identify, rectify and stop improper operation
behaviour in time.
The Group has adopted safety management mechanism, increased on-
site safety inspections, and organised training regarding environmental
protection and epidemic prevention and control to respond to
government’s requirements. We have completed emergency drils on
electric shock, injuries due to fal, and fire precaution, and conducted
checks for ocupational health and safety when neded.
Environmental, Social and Governance Report
环境、社会及管治报告
ANUAL REPORT 2025 • 二零二五年报91
职业安全与健康（续）
安全生产（续）
为有效落实职业健康安全方针，本集团印刷业
务定期对雇员进行安全生产知识培训，普及安
全操作规程，提升雇员安全生产意识，降低安
全事故风险，避免安全事故的发生。为了全面
保护我们的雇员，我们按需要为涉及职业危害
岗位的雇员提供职业健康体检，以及时识别对
对健康产生潜在威胁的因素，采取有效的防护
与管理控制措施。
建立消防安全意识对保护雇员生命健康安全而
言至关重要。本集团印刷业务于本年度邀请了
消防中心教官现场开展职业消防安全培训、展
开消防安全演练等灾害模拟演练，了解火灾原
因、危险品的正确处理方法以及消防设备的使
用方法等，在源头上帮助我们预防火灾事故的
发生，并提升雇员在危险状况下的逃生能力。
于过去三年，本集团并无知悉任何因公死亡的
事件。本集团其他职业健康及安全数据可参考
附录
I
关键绩效指标。
Ocupational safety and health (Continued)
Safe production (Continued)
In order to implement the ocupational health and safety strategy, the
printing busines of the Group provides regular training sesions on
safe operation knowledge to the employes. These training sesions
explain the operating procedures to enhance employes’ safe
production awarenes and reduce safety incidents. To protect our
employes, we also ofer ocupational health checkups when neded
for employes involved in ocupational hazards to identify potential
threats to health and take efective protective and management control
measures.
Building awarenes of fire safety is esential to protect the lives, health,
and safety of employes. To strengthen employes’ awarenes on
safe production, we invited the trainers of the Fire Bureau to provide
ocupational fire safety training, conducted fire drils and other disaster
prevention training and drils. The trainings help employes understand
the causes of fires, proper handling methods for hazardous materials,
and corect usage of firefighting equipment which are esential in
helping us prevent fire acidents at their source. They also help
enhance employes’ ability to evacuate safely in hazardous situations.
Fire safety training and fire drils of the Printing busines
印刷业务消防安全培训及消防安全演练
In the past thre years, the Group was not aware of any work-related
fatalities. Other ocupational health and safety data of the Group can
be refered to Apendix I ESG Key Performance Indicator.
Environmental, Social and Governance Report
环境、社会及管治报告
Magnus Concordia Group Limited / 融太集团股份有限公司92
劳工准则
本集团致力于创造互相尊重、和谐共融的工作
环境。我们不会因为雇员的国籍﹑性别、年龄、
民族、种族、身体状况、宗教信仰、性别取向
等不同而存在歧视行为。我们依法尊重员工包
括自由结社、集体谈判等在内的权力。为了更
好地收集到内外部持份者的意见和反馈，我们
建立了内外部信息沟通和投诉渠道，以跟进投
诉，保障雇员的合法权益。
我们严格遵守《中华人民共和国未成年人保护
法》、《禁止使用童工规定》，在招聘过程中核查
求职者的实际年龄。同时，本集团严格遵循内
部雇佣管理制度，严禁以任何方式强迫雇员工
作或超时工作。如发现求职人员身份信息不实、
瞒报年龄或是发现强制劳动现象，集团将进行
相应调查并落实内部整改。
在禁止和消除童工方面，本集团印刷业务明确
禁止招收未满十六周岁的童工，所有入职雇员
均需持有本人真实身份证，并经核验。所有岗
位的雇员均配备良好的所需劳保用品。
于本年度，本集团并未知悉任何造成严重违反
劳工准则的雇佣童工或强制劳工的事件。
Labour standards
The Group is comited to creating a work environment that promotes
mutual respect and harmony. Al staf wil not be discriminated because
of their nationality, gender, age, ethnicity, race, physical condition,
religious belief, gender orientation or any other factors. We respect the
rights of our employes, including fredom of asociation and colective
bargaining, in acordance with relevant laws and regulations. We
have established internal and external comunication and complaint
chanels in order to beter colect opinions and fedback from internal
and external stakeholders, to folow up on complaints and protect the
legitimate rights and interests of the employes.
We are strictly in compliance with the Law of the People’s Republic of
China on the Protection of Minors (
《中华人民共和国未成年人保护
法》
) and the Provisions on the Prohibition of Using Child Labour (
《禁止
使用童工规定》
), and verify the actual ages of the job aplicants during
the recruitment proces. Meanwhile, the Group strictly abides by its
internal labour management policies and forbids forcing employes
to work or work overtime in any maner. In the event of discovering
any false information of the aplicants, or any false reporting of age or
forced labour, the Group wil conduct coresponding investigations and
implement internal rectifications.
In terms of prohibiting and eliminating child labor, the printing busines
of the Group prohibits the recruitment of child labour under the age
of 16 and al recruits are required to hold their identity cards, which
should be verified. Employes in al positions are wel-equiped with
the required labour protection suplies.
During this Year, the Group was not aware of any cases of child labour
or forced labour which had caused any significant violation of labour
standards.
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供应链管理
负责任的供应链管理对企业稳健发展而言至关
重要。本集团严格遵守《中华人民共和国招标投
标法》等法律法规，对各大供应商进行定期审
核，以保障供应商在质量管理、交付时间、售
后服务、社会与环境风险管理方面的能力符合
集团供应链管理要求。
招标及供应商评估
本集团印刷业务制定并实施《采购控制程序》及
《供应商管理程序》等制度。我们对供应商进行
严格评估，审核供应商相关执照、物料品质相
关证书（如
ISO9001
证书）、材料安全资料表等
资料，结合样本测试等多种评估方式，确定符
合集团要求的合格供应商。对已纳入《合格供应
商名录》的供应商，我们会定期审核资质，按需
要更新合格供应商，确保所有合作供应商符合
集团要求。
供应商的环境与社会责任
我们重视供应商管理环境、社会议题的能力。
在开展合作前，我们会对各大供应商开展评估
调查，并在合作中不断深化对供应商的了解程
度并更新评估信息，确保供应商在环境和社会
议题方面满足合规要求。我们会优先选用在环
保和社会方面表现优异的供应商。
Suply chain management
Responsible suply chain management is crucial to the sound
development of a busines. While strictly complying with the Law of
the People’s Republic of China on Bid Invitation and Biding (
《中
华人民共和国招标投标法》
) and relevant laws and regulations, the
Group conducts regular reviews on its major supliers to ensure their
capabilities in quality management, delivery time, after-sales service, as
wel as the social and environmental risk management are in line with
the Group’s suply chain management requirements.
Tendering and suplier evaluation
The printing busines of the Group has established and implemented
the “Procurement Control Procedures” and the “Suplier Management
Procedures” and other relevant policies. We conduct strict evaluations
on supliers and select qualified ones by adopting various asesment
aproaches, such as reviewing supliers’ certifications, material quality
related certificates (e.g., ISO9001 Certification) and material safety
data shets, and sample testing. For supliers included in the “List
of Qualified Supliers”, we conduct regular qualification reviews to
ensure their compliance with the Group’s requirements. As necesary,
we update the “List of Qualified Supliers” to ensure al coperating
supliers met the Group’s standards.
Environmental and social responsibilities of
supliers
We atach great importance to our supliers’ ability to manage
environmental and social isues. Before initiating any colaboration,
we conduct asesment surveys on major supliers and continuously
depen our understanding of them throughout the partnership.
We update the asesment information to ensure that supliers
met compliance requirements regarding environmental and social
isues. We prioritize selecting supliers who demonstrate excelent
performance in environmental and social aspects.
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Suply chain management (Continued)
Environmental and social responsibilities of
supliers (Continued)
The printing busines of the Group requires major supliers to sign
the “Social Responsibility Comitment Leter” and promise to abide
by the local labour laws and regulations. Supliers included in the
“List of Qualified Supliers” should sign the “Declaration of Conformity
with the Restricted Substance Control Standards” and provide the
levels of restricted substances contained as wel as a test report from
an aproved third-party notary organisation to ensure that their raw
materials are up to the criteria stated in international material safety
standards, such as Registration, Evaluation, Authorisation and Restriction
of Chemicals (REACH)
, EN71-3 Safety of toys Part 3: Migration of
Certain Elements
and American toy safety standards ASTM F963-17
Standard Consumer Safety Specification for Toy Safety
. At the same
time, the printing busines continues to monitor the use of child labour
by supliers and the payment of labour salaries among supliers. If a
suplier is noted to intentionaly hire child labour, forced labour, or have
any other serious violations of labour laws or regulations, our coperation
with that suplier wil be terminated imediately.
Our both at an exhibition
于展览会之摊位
6 REACH is the abreviation of “registration, evaluation, authorisation and restriction
of chemicals”. REACH is the regulation of the European Union on the preventive
management of al chemicals entering its market.
7 EN71-3 Standard: The European Union made an oficial decision in 1999 to strictly
limit the content of phthalates in mouth-contact toys (such as baby pacifiers) and
other children’s products used by children under the age of thre in EU member
states.
8 ASTM F963-17 refers to the ASTM (American Society for Testing and Materials
International) standard consumer safety specification for toy safety.
供应链管理（续）
供应商的环境与社会责任（续）
本集团印刷业务的主要供应商需签署《社会责
任承诺书》，承诺遵守当地劳动法规。纳入《合
格供应商名录》的供应商需签署《符合限用物质
控制标准声明书》，并提供限用物质含量标准
及认可的供应商公证行的检测报告，以确保原
料符合欧盟《化学品注册、评估、授权和限制法
规》
(REACH)
、《
EN 71-3:2019+A1:2021
玩具安
全第三部分：特定元素的迁移》
及美国玩具安
全标准《
ASTM F963-17
玩具安全标准消费者安
全规范》
等国际材料安全标准。同时，印刷业
务持续关注供应商是否存在童工使用情况以及
监察劳工薪资发放情况，若发现有供应商故意
使用童工、强迫劳动或其他严重违反劳动法规
的情况，将立即停止合作关系。
6 REACH
指令是「化学品注册、评估、许可和限制」的英
文简称。
REACH
指令是欧盟对进入其市场的所有化学
品进行预防性管理的法规。
7 EN71-3
环保标准：欧盟于
年就正式作出决定，
在欧盟成员国内，对
岁以下儿童使用的与口接触的
玩具（如婴儿奶嘴）以及其他儿童用品中邻苯二甲酸盐
的含量进行严格限制。
8 ASTM F963-17
为
ASTM
（美国材料和试验协会
American Society for Testing and Materials International
）
对玩具安全的消费者安全标准规范。
Environmental, Social and Governance Report
环境、社会及管治报告
ANUAL REPORT 2025 • 二零二五年报95
Product responsibility
The Group believes that excelent quality, creative design and
profesional after-sales service are the core of sustainable
development. We strictly control the quality of printed materials and
residential buildings, and provide profesional and convenient after-
sales service for customers, striving to protect the consumer rights and
interests.
During this Year, the Group was not aware of any material
non-compliance with any laws and regulations regarding health and
safety, advertising, labeling and privacy maters relating to products
and services provided by the Group.
Printing quality control
Printing busines
The Group’s printing busines has established a detailed quality
control system for printing design and production. Through strict
implementation of relevant management procedures, we aim to ensure
the quality and safety of printed products. The group has set goals
related to product quality and safety and has achieved those goals
during the year. In terms of the product quality and safety, the Group
has set the targets, which have ben fuly achieved this Year.
The Group strictly folows the Product Quality Law of the People’s
Republic of China (
《中华人民共和国产品质量法》
), the Regulations
on the Administration of Printing Industry (
《印刷业管理条例》
), the
Provisions on the Administration of Undertaking of Preswork Printing
(
《印刷品承印管理规定》
) and other relevant laws and regulations
and international product standards and has established policies and
procedures such as the “Quality and Environmental Management
Manual” and “Defective Product Output Management Procedures”.
Besides, the Group has also established a management proces for
controling product quality at every stage from incoming materials,
semi-finished products to final products. The quality control procedures
of the printing busines mainly include four stages, which are the
quality control of the incoming materials, work in proces products, the
final products, and the transportation and storage management.
产品责任
本集团始终坚信卓越的产品质、创新的产品
设计及专业的售后服务是可持续发展的核心。
在营运中，我们严格控制印刷品及建设住宅的
质量，为客户提供专业、便捷的售后服务，致
力保障客户的消费权益。
于本年度内，本集团并不知悉所提供的产品和
服务对有关健康与安全、广告、标签及私隐事
宜的法律法规有任何重大违规情况。
印刷品质管控
印刷业务
本集团印刷业务已建立详细的印刷品设计及生
产质量管控体系，务求通过严格落实相关管理
程序，保障印刷品的质量与安全。本集团已围
绕产品质量与安全制定相关目标，并于本年度
达成目标。本集团已制定了以下产品质量与安
全方面的目标，本年度之目标均已达成。
本集团严格遵照《中华人民共和国产品质量法》、
《印刷业管理条例》、《印刷品承印管理规定》等
法律法规及国际产品标准，制定《品质与环境管
理手册》、《不合格品输出控制程式》等制度与
流程，建立了涵盖从材料质量、半成品质量到
最终产品质量的管理流程。印刷业务质量管控
流程分为来料质量管控、制程质量管控、成品
质量管控及运输与储存管理四个主要环节。
Environmental, Social and Governance Report
环境、社会及管治报告
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产品责任（续）
印刷品质管控（续）
印刷业务（续）
Product responsibility (Continued)
Printing quality control (Continued)
Printing busines (Continued)
Quality control of incoming materials
来料品质管控
- , we evaluate their market reputation, busines scale and samples’ quality, and regularly
evaluate material quality and delivery time during the coperation, so as to select the ones with god performance to
further coperate
在选用供应商时对其市场声誉、经营规模、样品质量进行评估，并在合作过程中定期对质量、交期等进行评估，
择优合作
- , machinery and equipment are required to provide product test report from third-party
testing organisations, sign the instruction of compliance with restricted substances to ensure that raw materials comply
with the Restriction of the use of Hazardous so that our children’s bok, fod packaging products and other packaging
products met the safety requirements
要求原材料、机器、设备等类别供应商提供第三方检测机构的产品检测报告，签署符合限用物质说明书，以确保
原材料符合有害物质限制指令，从而使我们的儿童类图书、食品类包装产品及其他包装产品满足安全规定
- , eliminate incoming material quality problem
检查来料是否达标，杜绝来料质量问题
Quality control of work in proces
制程品质管控
• Seting up standardised quality inspection procedures and carying out strict inspection and dispatch standards on al
products from raw materials to finished gods. Products at al phases must be tested qualified before entering the next
stage
设置标准化的质量检验程序，对所有产品从来料到成品入仓执行严格的检验放行标准，生产过程各阶段产品均
需检测合格方可进入下一阶段
Environmental, Social and Governance Report
环境、社会及管治报告
ANUAL REPORT 2025 • 二零二五年报97
产品责任（续）
印刷品质管控（续）
印刷业务（续）
为提升质检人员专业水平，本集团开展印刷品
质量检验专业培训课程，为员工讲解不同产品
特性、检验标准及判定方法等专业检测知识，
以提升产品质量检验过程的专业性与效率。本
集团对质检人员实施《品质系统考核管理规定》，
对质检人员进行考核，以提高检验水平。
Quality control of final products
成品质管控
- , and only the
products with pas labels are alowed to be delivered, and implement the finished product inspection system
每一批成品均需通过品质部门抽检后合格，并贴有合格标签后才能发货，落实成品验货系统
• The quality control department cordinates the technical department and production department to analyse the
causes of quality isues and develops improvement measures relating to system, proces and technology to improve
the quality of finished gods
品质部门协调技术、生产等部门，对产品质量问题进行原因分析，并制定系统、流程、技术等方面的改进措施，
以提升成品质量
Transportation and storage management
运输与储存管理
• Monitoring the temperature and humidity of the storage environment to avoid damage
监控产品储存环境温度及湿度，避免产品损坏
- , and avoid geting wet from rain
and snow during transportation
使用专业运输团队，运输过程保证洁净、避免雨雪淋湿、谨慎装卸
In order to enhance the quality inspectors’ profesional competence,
the Group has aranged profesional training sesions on quality
inspection of the printed materials. These training contents include
profesional inspection knowledge, such as diferent product features,
inspection standards and judgement aproaches, to enhance the
profesionalism and the eficiency of the inspection proces. In order
to enhance the quality of inspection, the “Quality System Asesment”
policy has ben implemented and the quality inspectors are evaluated
to increase their levels of inspection.
Product responsibility (Continued)
Printing quality control (Continued)
Printing busines (Continued)
Environmental, Social and Governance Report
环境、社会及管治报告
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产品责任（续）
印刷品质管控（续）
印刷业务（续）
本集团产品面向国际及国内客户销售，符合国
际国内质量标准要求对业务发展尤为重要。本
集团已根据
ISO9001:2015
质量管理体系实施质
量管理，并已通过第三方体系认证。为满足北
美、欧洲等国际客户需求，本集团亦获得
BRC
《包装及包装材料全球标准》（第五版）、国际数
码企业联盟颁布的
G7 Master Facility Colorspace
认证等多项国际化认证，以展示本集团对印刷
色彩控制、包装物料相关健康安全控制等的专
业管理能力，满足国际强制性合规要求。
本年度，本集团印刷业务并无产品因安全健康
理由而须回收。
Product responsibility (Continued)
Printing quality control (Continued)
Printing busines (Continued)
As the Group’s products are sold to both international and domestic
customers, compliance with international and domestic quality
standards is particularly important for our busines development.
We have implemented quality management which is certified with
the third party certification of ISO9001:2015 Quality Management
Standard. To satisfy the neds of international customers such as
customers in North America and Europe, the Group has also obtained
a number of international certificates, such as BRC Global Standard for
Packaging & Packaging Materials (Isue 5) and the G7 Master Facility
Colorspace Certification isued by the International Digital Enterprise
Aliance (IDEAliance). Having these certifications shows the Group’s
profesional management ability regarding the printing colour controls
and the packaging safety and health controls, in order to met the
international mandatory compliance requirements.
Profesional training for quality control inspectors
品质检验员专业培训
In this Year, none of products in the printing busines was recaled due
to safety and health concerns.
Environmental, Social and Governance Report
环境、社会及管治报告
ANUAL REPORT 2025 • 二零二五年报99
产品责任（续）
客户服务满意度
本集团印刷业务严格遵守《中华人民共和国消
费者权益保护法》等法律法规，制定《内外部沟
通控制程序》等制度，通过各类途径收集客户对
产品质量、交期、服务等方面的投诉及意见。
质量管理部进行产品验货，及时解决客户验货
发现异常；针对较为复杂的产品异常情况，质
量管理部协调销售部、技术部、生产部等各个
部门检讨客户回馈问题，及时跟进。本集团于
本财务年度未曾接获退货或召回商品的情况。
为提高客户满意度水平，规范客户满意度管理，
印刷业务制定《客户满意度调查与分析管理程
序》，对客户开展满意度调查，以了解客户对本
集团服务水准、技术能力、产品质量、交货能
力方面的意见与建议。除了分析和识别客户满
意度变化趋势，我们也要求相关部门跟进，并
及时与客户沟通，了解客户诉求和潜在提升空
间，不断提升服务水平，提升客户满意度。
Product responsibility (Continued)
Customer service and satisfaction
The printing busines of the Group strictly folows the Law of the
People’s Republic of China on the Protection of Consumer Rights
and Interests (
《中华人民共和国消费者权益保护法》
) and other
relevant laws and regulations. The Group has established the “Control
Procedures of Internal and External Comunication Policy”, to colect
customers’ complaints and opinions on product quality, delivery and
service through various chanels. The quality control department
performs the inspection and resolves the abnormalities discovered
by customers in time. For the complex product anomalies, the quality
control department cordinates the sales department, the technology
department, the production department, etc. to review customers’
fedback and folow up timely. The Group has not received any returns
or recals of merchandise during the financial year.
In order to improve the level of customer satisfaction and standardize
customer satisfaction management, the printing busines has
established the “Management Procedures of Customer Satisfaction
Survey and Analysis” and conducts customer satisfaction survey to
understand their opinions and sugestions on the Group’s service
level, technical capability, product quality and delivery capacity. Apart
from identifying the changing trend of customer satisfaction, we also
require relevant departments to folow up and comunicate with
customers to understand customer demands and identify areas for
improvement to continuously enhance our service levels and increase
customer satisfaction.
Environmental, Social and Governance Report
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产品责任（续）
客户服务满意度（续）
至于本集团印刷业务的售后服务，全部有关产
品及服务的投诉均在有效时间内完善处理。
客户信息及私隐保护
本集团高度重视保护客户的产品信息、隐私信
息安全，实施《公司保密工作指引》、《成文信息
管理程序》等制度，以规范客户信息及隐私的保
护措施及流程，切实保障客户权益并遵守《个人
资料（私隐）条例》（香港法例第
章）等法律法
规。本集团尊重客户的隐私信息安全。通过设
置客户信息接触权限及相关人员隐私安全培训
等途径我们确保隐私信息安全有完善的管理控
制体系。我们对涉及客户资料的文档均交由专
人保管，严格管理员工作使用的电脑设备、
帐号、机房及网路，防止信息泄露事件发生。
Product responsibility (Continued)
Customer service and satisfaction (Continued)
About the after-sales service of the printing busines of the Group,
al complaints received in relation to products and services are dealt
promptly.
Customer information and privacy protection
The Group ataches great importance to the protection of the security
of clients’ product information and privacy. We have implemented the
“Confidential Work Guidelines” and “Writen Information Management
Procedures” to standardise the protective measures and proceses of
clients’ information and privacy, so as to efectively protect the rights
and interests of customers and folows the “Personal Data (Privacy)
Ordinance” (
《个人资料
(
私隐
)
条例》
/Cap 486) and other relevant
laws and regulations. The Group respects the privacy and security
of customers. By seting aces right for customer information and
carying out awarenes training to employes who have aces to
customer information, we ensure that there is a robust management
and control system in place to safeguard the security of private
information. We designate special personel to retain the documents
relating to customer information, and strictly manage computers,
acount numbers, computer roms and network used by employes
to prevent information leakage.
Environmental, Social and Governance Report
环境、社会及管治报告
ANUAL REPORT 2025 • 二零二五年报101
产品责任（续）
合规营销与宣传
营销和广告内容合规不仅能够保护企业的品牌
形象，也是维护市场秩序的重要基石。本集团
严格遵守《中华人民共和国广告法》、《中华人
民共和国商标法》等制度，对公开发布的公众号
信息、宣传材料等用语、图片等进行严格审核，
防止出现对经营、建筑及印刷品的宣传内容失
实或存在误导性的描述，确保消费者知情权和
选择权。同时，本集团所有对外形象展示、营
销活动等策划内容均经过内部严格审核，确保
营销宣传的合规性。
维护及保障知识产权保护
本集团关注知识产权保护以更好地履行产品责
任。我们严格遵守《中华人民共和国商标法》、
《中华人民共和国著作权法》、《中华人民共和国
专利法》等法律法规。本集团通过签署商标、著
作权使用协议、及时申报本企业产品及技术专
利及咨询内外部法律专家等方式，规范知识产
权的申请、注册登记、权属变更以及相关的信
息管理。我们也避免侵犯他人商标权、著作权
及专利权。同时，本集团对相关人员开展持续
的培训宣贯，监控落实知识产权相关制度，以
确保本集团在运营过程中在知识产权方面的合
规性。
Product responsibility (Continued)
Marketing and promotion compliance
Ensuring marketing and promotion compliance not only protects
a company’s brand image, but is also an important cornerstone
in maintaining market order. The Group strictly complies with the
Advertising Law of the People’s Republic of China (
《中华人民共和
国广告法》
), the Trademark Law of the People’s Republic of China
(
《中华人民共和国商标法》
) and other relevant laws and regulations,
strictly reviews the terms and pictures of information released in the
oficial acount and publicity materials, so as to prevent inacurate or
misleading descriptions of the busines, housing and printing products,
and protect customers’ right to know and right to chose. At the same
time, al planing materials for external image display and marketing
activities of the Group are subject to strict internal review to ensure the
compliance of marketing activities and publicity materials.
Protection of intelectual property rights
The Group focuses on intelectual property rights protection to beter
fulfil its product obligations. The Group strictly complies with the
Trademark Law of the People’s Republic of China (
《中华人民共和国
商标法》
), the Copyright Law of the People’s Republic of China (
《中
华人民共和国著作权法》
), the Patent Law of the People’s Republic
of China (
《中华人民共和国专利法》
) and other related laws and
regulations. The group standardises the aplication, registration,
ownership change and related information management of intelectual
property rights, through signing agrements for trademark and
copyright use, aplying patent for our own product and technology,
and consulting internal and external legal experts, etc. We also
avoid infringing others’ trademark right, copyright and patent right.
Meanwhile, the Group provides training for relevant personel on
an ongoing basis, and monitors the implementation of intelectual
property related systems, so as to ensure the Group’s compliance with
intelectual property management.
Environmental, Social and Governance Report
环境、社会及管治报告
Magnus Concordia Group Limited / 融太集团股份有限公司102
反贪污
本集团严格落实反腐败政策，遵循《中华人民
共和国刑法》、《中华人民共和国反不正当竞争
法》、《防止贿赂条例》（香港法例第
章）、《竞
争条例》（香港法例第
章）以及其他相关的法
律法规。秉持廉洁标准，我们维持一片公平、
公正、公开的商业环境。
于本年度内，本集团并不知悉有关贿赂、勒索、
欺诈及洗黑钱的法律及法规之重大不合规情况；
本集团及雇员并无牵涉任何已确定的贪污诉讼
案件。
反贪污管理与培训
本集团以诚信为业务发展之根本，制定了《融太
集团行为守则》及《融太集团举报机制》，严禁
任何贪腐行为。本集团在《雇员手册》中设置防
贪腐的指引，鼓励雇员树立职业道德观，严格
依法依规从业，杜绝雇员收受回扣等贪腐行为。
为规范供应链管理，我们要求供应商签署反贿
赂及反贪腐承诺书。我们从制度及流程上约束
不道德行为，并由集团内部审计部全程监督。
本集团重视对董事及员工的廉洁教育，向董事
及员工提供《上市公司防贪系统实务指南》，提
供反贪腐培训，指引新员工学习《雇员手册》中
员工自律相关资料，并在各主要业务的宣传栏
张贴廉洁自律通告等途径，积极宣扬清正廉洁
的企业文化。
Anti-coruption
The Group strictly implements anti-coruption policies, complies with
the Criminal Law of the People’s Republic of China (
《中华人民共和
国刑法》
), the Anti-Unfair Competition Law of the People’s Republic of
China (
《中华人民共和国反不正当竞争法》
), the Prevention of Bribery
Ordinance of Hong Kong (
《防止贿赂条例》
/Cap 201), the Competition
Ordinance of Hong Kong (
《竞争条例》
/Cap 619) and other relevant
laws and regulations. By adhering to the integrity principle, we strive to
maintain a just, fair and open busines environment.
During this Year, we are not aware of any major violations of laws and
regulations pertaining to bribery, extortion, fraud and money laundering.
There were no identified cases of coruption litigation relating to the
Group and our employes.
Anti-coruption management and training
The Group takes integrity and honesty as the foundation of our
busines development and established the “Magnus Concordia Group
Code of Conduct” and the “Magnus Concordia Group Whistleblowing
Mechanism” to strictly prohibit any coruptive behaviour. The Group
has formulated anti-coruption guidelines in the “Employe Handbok”
to encourage employes to establish profesional ethics, comply with
laws and regulations, and prohibit corupt practices such as acepting
kickbacks. The supliers of the printing busines of the Group are
required to sign the anti-bribery and anti-coruption statement.
Unethical behavior is controled through systems and proceses, with
the monitor of internal audit department of the Group.
The Group ataches great importance to the education on integrity
for the directors and the employes. We provide “Anti-coruption
Programe — A Guide for Listed Companies” (
《上市公司防贪系统实
务指南》
) to the directors and the employes, conduct anti-coruption
training, guidance to the new hires on the materials relating to self-
discipline in the “Employe Handbok”, and post the integrity and self-
discipline notice on buletin boards of the main busines segments,
etc., so as to actively promote the corporate culture of integrity and
honesty.
Environmental, Social and Governance Report
环境、社会及管治报告
ANUAL REPORT 2025 • 二零二五年报103
反贪污（续）
内部廉洁培训
为强化廉洁意识，本集团印刷业务开展了廉洁
自律培训。培训不仅指出了员工容易涉及的职
务犯罪以及如何预防此类犯罪，以及强调员工
的廉洁要求。
反贪污举报渠道
本集团设置了多种举报渠道，举报人可以通过
邮寄《举报表格》至集团内部审计部、发送电子
邮件或致电内部审计部主管的方式检举集团内
部任何不当事宜，我们将保护检举人，防止其
身份或信息泄露。集团内部审计部在接获检举
后，会进一步了解检举情况，并呈报审核委员
会。对于重大的个案或紧急情况，集团内部审
计部及审核委员会尽快向董事会报告，由董事
会讨论确定处置建议。情节严重的个案将被移
交有关部门查办。
本集团于本年度内提供的反贪腐培训数据可参
考附录
关键绩效指标。
Anti-coruption (Continued)
Training on internal integrity
In order to strengthen the awarenes of integrity, the printing busines
conducts integrity and self-discipline training. The training not only
pointed out the job-related crimes that the employes are likely to
involve and how to prevent such crimes, but also highlighted the
integrity requirements for the employes.
Anti-coruption and anti-bribery training
反贪腐及反贿赂培训
Anti-coruption reporting chanels
The Group has set up a variety of reporting chanels. Whistle-blowers
can report any improper maters within the Group by sending the
“Report Form” to the internal audit department of the Group, emailing
or caling the head of the internal audit department. We wil make
reasonable eforts to protect whistle-blowers, prevent the leak of
reporters’ identity or information. After receiving the report, the internal
audit department of the Group wil conduct further investigation and
report to the Audit Comite. For serious or critical cases, the internal
audit department of the Group and the Audit Comite wil report
to the Board of Directors at earliest convenience, and the Board of
Directors wil discus and determine the recomendations for further
handling. Serious cases wil be pased to relevant authorities for
investigation.
Details of the anti-coruption training provided by the Group during the
year can be refered to Apendix 1 ESG Key Performance Indicator.
Environmental, Social and Governance Report
环境、社会及管治报告
Magnus Concordia Group Limited / 融太集团股份有限公司104
社区投资
本集团积极参与社区投资活动，与周边社区保
持紧密联系，携手共促发展，为建设和谐社会
做出贡献。本集团亦有对当地社区之年度龙舟
比赛提供赞助。
本年度，本集团继续参与由香港公益金（一间非
政府及非牟利的慈善机构）举办的「公益金「折」
食日」，此为一项一年一度的慈善筹款运动，所
筹募的善款将用于帮助有需要人士。
Comunity investment
The Group is actively involved in the comunity investment activities,
and maintains close relationship with the surounding comunities,
works with those comunities to promote mutual development, and
makes contributions to build a harmonious society. The Group also
made subsidies to local social comunities for the anual dragon boat
contest.
In this Year, the Group continued to participate in the Skip Lunch
Day organised by The Comunity Chest (a non-government and
non-profitable charitable organization). It was an anual fundraising
campaign. The money raised wil be used to help those in ned.
Environmental, Social and Governance Report
环境、社会及管治报告
ANUAL REPORT 2025 • 二零二五年报105
附录
I ESG
关键绩效指标
环境关键绩效指标
Apendix I ESG Key Performance Indicator
Environmental Key Performance Indicator
IndicatorUnit
Year ended
31 March 2025
Year ended
31 March 2024
指标单位
截至
二零二五年
三月三十一日
止年度
截至
二零二四年
三月三十一日
止年度
Grenhouse gas (GHG)
温室气体
Total emisionsTones of CO
e1,372.661,523.45
排放总量吨二氧化碳当量
Direct emisions (Scope 1)Tones of CO
e63.5560.97
直接排放（范围一）吨二氧化碳当量
Indirect emisions (Scope 2)Tones of CO
e1,309.111,462.48
间接排放（范围二）吨二氧化碳当量
GHG emisions intensity (Scope 1 and 2) (Production)Tones of CO
e/Tones0.220.25
温室气体排放密度（范围一及范围二）（产量）吨二氧化碳当量╱吨产量
Air emisions
废气排放量
Nitrogen oxides (“NOx”)kg136.10148.42
氮氧化物千克
Sulphur oxides (“SOx”)kg0.320.29
硫氧化物千克
Suspended particulate mater (“PM”)kg9.8010.68
悬浮粒子千克
Environmental, Social and Governance Report
环境、社会及管治报告
Magnus Concordia Group Limited / 融太集团股份有限公司106
IndicatorUnit
Year ended
31 March 2025
Year ended
31 March 2024
指标单位
截至
二零二五年
三月三十一日
止年度
截至
二零二四年
三月三十一日
止年度
Hazardous waste
有害废弃物
Total hazardous waste disposalTones5.715.94
有害废弃物处置总量吨
Intensity of hazardous waste disposal (Production)kg/Tones0.920.98
有害废弃物处置密度（产量）千克╱吨产量
Non-hazardous waste
无害废弃物
Total non-hazardous waste producedTones28.3047.10
所产生的无害废弃物总量吨
Intensity of non-hazardous waste produced (Production)Tones/Tones0.010.01
无害废弃物产生密度（产量）吨╱吨产量
Non-hazardous waste disposed
已处置的无害废弃物
Domestic wasteTones11.2812.12
生活废物吨
Construction wasteTones17.0234.98
建筑废料吨
Apendix I ESG Key Performance Indicator
(Continued)
Environmental Key Performance Indicator
(Continued)
附录
I ESG
关键绩效指标（续）
环境关键绩效指标（续）
Environmental, Social and Governance Report
环境、社会及管治报告
ANUAL REPORT 2025 • 二零二五年报107
IndicatorUnit
Year ended
31 March 2025
Year ended
31 March 2024
指标单位
截至
二零二五年
三月三十一日
止年度
截至
二零二四年
三月三十一日
止年度
Non-hazardous waste recycled
已回收的无害废弃物
PaperTones67.1574.31
纸张吨
MetalTones7.067.82
金属吨
Fod wasteTones2.652.93
厨余吨
WodTones19.4221.49
木材吨
Energy
能源
Total consumptionMWh2,460.002,709.88
消耗总量兆瓦时
ElectricityMWh2,250.952,515.26
电力兆瓦时
DieselMWh120.77133.65
柴油兆瓦时
Unleaded petrolMWh88.2860.97
无铅气油兆瓦时
Energy consumption intensity (Production)MWh/Tones0.390.44
能源消耗密度（产量）兆瓦时╱吨产量
Apendix I ESG Key Performance Indicator
(Continued)
Environmental Key Performance Indicator
(Continued)
附录
I ESG
关键绩效指标（续）
环境关键绩效指标（续）
Environmental, Social and Governance Report
环境、社会及管治报告
Magnus Concordia Group Limited / 融太集团股份有限公司108
IndicatorUnit
Year ended
31 March 2025
Year ended
31 March 2024
指标单位
截至
二零二五年
三月三十一日
止年度
截至
二零二四年
三月三十一日
止年度
Water
水资源
Water consumptionm
33,928.0033,927.00
总用水量立方米
Water consumption intensity (Production)m
/Tones5.465.58
耗水密度（产量）立方米╱吨产量
Packaging materials
包装材料
Packaging material consumptionTones26.7529.60
包装材料消耗总量吨
Plastic bag and tapeTones2.793.09
塑胶袋及胶布吨
Paper boxTones23.9626.51
纸箱吨
Packaging material consumption density (Production)Tones/Tones of
production
0.0040.005
包装材料使用密度（产量）吨╱吨产量
Apendix I ESG Key Performance Indicator
(Continued)
Environmental Key Performance Indicator
(Continued)
附录
I ESG
关键绩效指标（续）
环境关键绩效指标（续）
Environmental, Social and Governance Report
环境、社会及管治报告
ANUAL REPORT 2025 • 二零二五年报109
附录
I ESG
关键绩效指标（续）
环境数据统计范围
环境数据的时间跨度为二零二四年月一日至
二零二五年三月三十一日；数据收集范围覆盖
本集团香港总部及广东省博罗县园洲勤达印务
有限公司。
环境数据与系数说明
1)
温室气体排放（范围一）主要来自固定设
备及车辆的直接能源消耗，温室气体排放
（范围二）产生于外购电力，数据来源为相
关费用的缴费单以及行政统计台账。电力
的温室气体排放系数参考电力的温室气体
排放系数参考
年中华人民共和国生
态环境部发布的《关于做好
年企业温
室气体排放报告管理相关重点工作的通知》
以及港灯电力投资《
年可持续发展报
告》中披露的温室气体排放系数。其他能
源排放系数参考香港交易所发布的《环境
关键绩效指标汇报指引》。
2)
本年度集团消耗的能源类型包括固定设备
燃油耗用、公务车辆燃油与外购电力，数
据来源为相关费用的缴费单以及行政统计
台账；能耗系数参考香港交易所发布的《环
境关键绩效指标汇报指引》及中华人民共
和国家市埸监督管理总局国家标准化管
理委员会发布的《
GB/T 2589-2020
综合能
耗计算通则》。
Apendix I ESG Key Performance Indicator
(Continued)
Scope of environmental data colection
Environmental data was colected from 1 April 2024 to 31 March 2025,
covering the Group’s headquarters in Hong Kong and Guangdong
Boluo Yuanzhou Midas Printing Limited.
Notes to environmental data and coeficients
1) GHG emisions (Scope 1) mainly come from the primary energy
consumption of the fixed equipment and vehicles, while GHG
emisions (Scope 2) mainly originate from consumption of
electricity. The above data is sourced from relevant fe bils
and administrative ledgers. GHG factors for domestic power
grid are subject to GHG factors for power grid are subject to
the Notification on Key Points for Management of Enterprises’
Grenhouse Gas Emisions Reporting in 2022 isued by the
Ministry of Ecology and Environment of the People’s Republic of
China and the emision factor disclosed in 2023 Sustainability
Report of HK Electric Investments. GHG factors for other
energy categories are subject to the Reporting Guidance on
Environmental KPIs isued by the Stock Exchange.
2) In this Year, energy consumed by the Group include fuel
consumed by fixed equipment, oficial vehicles and purchased
electricity. The above data is from relevant fe bils and
administrative ledgers; the energy consumption coeficients
are subject to conversion factors provided by the Reporting
Guidance on Environmental KPIs isued by the Stock Exchange
and the GB/T 2589-2020 General Rules for Calculation of
the Comprehensive Energy Consumption isued by the
Standardization Administration of the State Administration of
Market Regulation of the People’s Republic of China.
Environmental, Social and Governance Report
环境、社会及管治报告
Magnus Concordia Group Limited / 融太集团股份有限公司110
附录
I ESG
关键绩效指标（续）
环境数据与系数说明（续）
3)
集团用水主要为市政管网供水，数据来源
为水费缴费单、财务报销记录以及行政台
账记录。
4)
产量密度数据覆盖范围为广东省博罗县园
洲勤达印务有限公司。
Apendix I ESG Key Performance Indicator
(Continued)
Notes to environmental data and coeficients
(Continued)
3) The Group mainly uses municipal tap water and the above data
is colected from water bils, financial reimbursement records and
administrative ledgers.
4) Production intensity data covers Guangdong Boluo Yuanzhou
Midas Printing Limited.
Environmental, Social and Governance Report
环境、社会及管治报告
ANUAL REPORT 2025 • 二零二五年报111
附录
I ESG
关键绩效指标（续）
社会关键绩效指标
Apendix I ESG Key Performance Indicator
(Continued)
Social Key Performance Indicator
Key performance indicatorYear ended 31 March 2025Year ended 31 March 2024
关键绩效指标
截至二零二五年
三月三十一日止年度
截至二零二四年
三月三十一日止年度
B1.1 Total workforce by gender, age group, geographical region and employment type
B1.1
按性别、年龄组别、地区及雇佣类型划分的雇员总数
Number of
employesProportion
Number of
employesProportion
员工人数占比员工人数占比
By genderMale5649.12%5546.22%
按性别划分男性
Female5850.88%6453.78%
女性
By age group20 and below00%00%
按年龄组别划分
岁以下
21-3054.39%86.72%
21-30
岁
31-405649.12%5647.06%
31-40
岁
41-504539.47%4436.97%
41-50
岁
51-6054.39%86.72%
51-60
岁
Above 6032.63%32.52%
岁以上
By geographical regionMainland China10184.87%10588.24%
按工作所在地划分中国大陆
Hong Kong1310.92%1411.76%
香港
Overseas00%00%
海外地区
By employment typeFul-time114100%119100%
按雇佣类型划分全职
Contractor00%00%
合约
Environmental, Social and Governance Report
环境、社会及管治报告
Magnus Concordia Group Limited / 融太集团股份有限公司112
Key performance indicatorYear ended 31 March 2025Year ended 31 March 2024
关键绩效指标
截至二零二五年
三月三十一日止年度
截至二零二四年
三月三十一日止年度
B1.2 Employe turnover rate by gender, age group and geographical region
B1.2
按性别、年龄组别、地区划分的雇员流失比率
Number of
employes
leaving
employment
Turnover
rate
Number of
employes
leaving
employment
Turnover
rate
流失人数流失率流失人数流失率
By genderMale58.20%3437.78%
按性别划分男性
Female710.94%1821.43%
女性
By age group20 and below00%00%
按年龄组别划分
岁以下
21-30225.00%1055.56%
21-30
岁
31-4058.33%1725.00%
31-40
岁
41-5036.52%1632.00%
41-50
岁
51-60225.00%950.00%
51-60
岁
Above 6000%00%
岁以上
By geographical regionMainland China119.91%4428.57%
按工作所在地划分中国大陆
Hong Kong17.14%735.00%
香港
Overseas00%1100.00%
海外地区
Apendix I ESG Key Performance Indicator
(Continued)
Social Key Performance Indicator (Continued)
附录
I ESG
关键绩效指标（续）
社会关键绩效指标（续）
Environmental, Social and Governance Report
环境、社会及管治报告
ANUAL REPORT 2025 • 二零二五年报113
Key performance indicatorYear ended 31 March 2025Year ended 31 March 2024
关键绩效指标
截至二零二五年
三月三十一日止年度
截至二零二四年
三月三十一日止年度
B2 Health and Safety
B2
健康与安全
Work-related fatalities00
因工死亡的人数
Lost days due to work injuries00
因工伤损失的工作日数
No. of people participating in general health check00
参与普通健康体检人数
No. of persons participating in ocupational health check21133
参与职业健康体检人数
Number of fire dril preparation/execution22
参与消防演习预备╱执行次数
Atendance at fire dril preparation/execution147358
参与消防演习预备╱执行人次
Number of safety training preparation/execution02
安全培训预备╱执行次数
Apendix I ESG Key Performance Indicator
(Continued)
Social Key Performance Indicator (Continued)
附录
I ESG
关键绩效指标（续）
社会关键绩效指标（续）
Environmental, Social and Governance Report
环境、社会及管治报告
Magnus Concordia Group Limited / 融太集团股份有限公司114
Key performance indicatorYear ended 31 March 2025Year ended 31 March 2024
关键绩效指标
截至二零二五年
三月三十一日止年度
截至二零二四年
三月三十一日止年度
B3.1&B3.2 The percentage of employes trained ad average training hours per employe by gender and ranking
category
B3.1&B3.2
按性别及职级划分的受训雇员百分比及受训平均时数
Category
Percentage
of trained
employes
Average
training
hours per
employe
Percentage
of trained
employes
Average
training
hours per
employe
类别
受训雇员
百分比
人均受训
时数
*
受训雇员
百分比
人均受训
时数
By genderMale58.33%23.5056.52%61.2
按性别划分男性
Female41.67%24.6743.48%112.3
女性
By rankingSenior Management25.00%4.3326.09%15.2
按职级划分高级管理层
Midle Management8.33%8.3310.87%33.0
中级管理层
General and Technical Staf66.67%34.7163.04%120.3
一般及技术员工
B5 Number of supliers by geographical region
B5
按地区划分的供应商数量
By geographical regionMainland China8080
按照供应商所在地区划分（家）中国大陆
Hong Kong2222
香港地区
Apendix I ESG Key Performance Indicator
(Continued)
Social Key Performance Indicator (Continued)
附录
I ESG
关键绩效指标（续）
社会关键绩效指标（续）
- , thus the lower training
data represented those for property investment and printing busines.
*
由于该物业发展项目已完成，所以该较小培训数量代
表物业投资及印刷业务。
Environmental, Social and Governance Report
环境、社会及管治报告
ANUAL REPORT 2025 • 二零二五年报115
Key performance indicatorYear ended 31 March 2025Year ended 31 March 2024
关键绩效指标
截至二零二五年
三月三十一日止年度
截至二零二四年
三月三十一日止年度
B6 Product Responsibility
B6
产品责任
Product recals due to health and safety isues00
因安全与健康理由而须回收产品总数
Complaints related to product and service (Printing busines)79
有关产品及服务的投诉总数（印刷业务）
Complaints related to product and service
(Property development busines)00
有关产品及服务的投诉总数（物业发展业务）
B7 Anti-coruption
B7
反贪污
Number of concluded legal cases regarding corupt practices
brought against the Company and its employes00
所有针对公司及组织员工贪腐行为并已审结的贪污诉讼案件
Anti-coruption training
Trained
employes
Total
training
hours
Trained
employes
Total
training
hours
反贪污培训受训雇员人数总受训时数受训雇员人数总受训时数
Anti-coruption training provided to directors5555
向董事提供的反贪污培训
Anti-coruption training provided
to employes
向员工提供的反贪污培训
Senior Management5101020
高级管理层
Midle Management & General
and Technical Staf
中级管理层与一般及
技术员工
Apendix I ESG Key Performance Indicator
(Continued)
Social Key Performance Indicator (Continued)
附录
I ESG
关键绩效指标（续）
社会关键绩效指标（续）
Environmental, Social and Governance Report
环境、社会及管治报告
Magnus Concordia Group Limited / 融太集团股份有限公司116
附录
I ESG
关键绩效指标（续）
社会数据收集范围
社会数据涵盖二零二四年四月一日至二零二五
年三月三十一日；收集范围包括本集团香港总
部、自贡中置文化旅游投资有限公司和广东省
博罗县园洲勤达印务有限公司。
社会数据与系数说明
1)
本集团计算
B1.2
员工流失比率的公式为：
员工流失比率
=
本年离职雇员人数╱（年
初雇员人数
+
本年入职雇员人数）。
2)
本集团计算
B3.1
受训雇员百分比的公式
为：受训雇员百分比
=
截至年末受训雇员
人数╱年末雇员人数，
B3.2
人均受训时数
公式为：人均受训时数
=
总受训小时数╱年
末雇员人数。
Apendix I ESG Key Performance Indicator
(Continued)
Scope of social data colection
Social data colected from 1 April 2024 to 31 March 2025 was included
in this ESG report, covering the Group’s headquarter in Hong Kong,
Zigong Zhongzhi Cultural Tourism Investment Co. Ltd. and Guangdong
Boluo Yuanzhou Midas Printing Limited.
Notes to social data and coeficients
1) The formula for calculating the B1.2 employe turnover rate is:
employe turnover ratio = the number of leaving employes
during the year / (the number of employes at the begining of
the year + the number of entering employes during the year).
2) The formula for calculating the percentage of B3.1 trained
employes in the Group is: percentage of trained employes
= number of trained employes during the year/number of
employes at the end of the year. The formula for B3.2 trained
hours per person is: number of trained hours per person = total
trained hours/number of employes at the end of the year.
Environmental, Social and Governance Report
环境、社会及管治报告
ANUAL REPORT 2025 • 二零二五年报117
附录
I
《环境、社会及管治报告指
引》索引
Apendix I ESG Reporting Guide Content
Index
ESG indicatorChapter/Disclosure
环境、社会及管治指标章节╱披露内容
A1 General disclosureInformation on the policies; and compliance with relevant laws and
regulations that have a significant impact on the isuer relating to air
and grenhouse gas emisions, discharges into water and land, and
generation of hazardous and non-hazardous waste.
Environmental
A1
一般披露有关废气及温室气体排放、向水及土地的排污、有害及无害废弃
物的产生等的政策及遵守发行人有重大影响的相关法律及规例
的资料。
环境
A1.1The types of emisions and respective emisions data.Apendix I ESG Key
Performance Indicator
排放物种类及相关排放数据。附录
I ESG
关键绩效指标
A1.2Direct (Scope 1) and energy indirect (Scope 2) grenhouse gas
emisions (in tones) and, where apropriate, intensity (e.g. per unit
of production volume, per facility).
Apendix I ESG Key
Performance Indicator
直接（范围
）及能源间接（范围
）温室气体排放量（以吨计算）及（如
适用）密度（如以每产量单位、每项设施计算）。
附录
I ESG
关键绩效指标
A1.3Total hazardous waste produced (in tones) and where apropriate,
intensity (e.g. per unit of production volume, per facility).
Apendix I ESG Key
Performance Indicator
所产生有害废弃物总量（以吨计算）及（如适用）密度（如以每产量
单位、每项设施计算）。
附录
I ESG
关键绩效指标
A1.4Total non-hazardous waste produced (in tones) and, where
apropriate, intensity (e.g. per unit of production volume, per facility).
Apendix I ESG Key
Performance Indicator
所产生无害废弃物总量（以吨计算）及（如适用）密度（如以每产量
单位、每项设施计算）。
附录
I ESG
关键绩效指标
A1.5Description of emisions target(s) set and steps taken to achieve
them.
Environmental
描述所订立的排放量目标及为达到这些目标所采取的步骤。环境
A1.6Description of how hazardous and non-hazardous wastes are
handled, and a description of reduction target(s) set and steps taken
to achieve them.
Environmental
描述处理有害及无害废弃物的方法，及描述所订立的减废目标及
为达到这些目标所采取的步骤。
环境
Environmental, Social and Governance Report
环境、社会及管治报告
Magnus Concordia Group Limited / 融太集团股份有限公司118
ESG indicatorChapter/Disclosure
环境、社会及管治指标章节╱披露内容
A2 General disclosurePolicies on the eficient use of resources, including energy, water
and other raw materials.
Environmental
A2
一般披露有效使用资源（包括能源、水及其他原材料）的政策。环境
A2.1Direct and/or indirect energy consumption by type (e.g. electricity,
gas or oil) in total (kWh in ’000s) and intensity (e.g. per unit of
production volume, per facility).
Apendix I ESG Key
Performance Indicator
按类型划分的直接及╱或间接能源（如电、气或油）总耗量（以千个
千瓦时计算）及密度（如以每产量单位、每项设施计算）。
附录
I ESG
关键绩效指标
A2.2Water consumption in total and intensity (e.g. per unit of production
volume, per facility).
Apendix I ESG Key
Performance Indicator
总耗水量及密度（如以每产量单位、每项设施计算）。附录
I ESG
关键绩效指标
A2.3Description of energy use eficiency target(s) set and steps taken to
achieve them.
Environmental
描述能源使用效益目标及为达到这些目标所采取的步骤。环境
A2.4Description of whether there is any isue in sourcing water that is fit
for purpose, water eficiency target(s) set and steps taken to achieve
them.
Environmental
描述求取适用水源上可有任何问题，以及所订立的用水效益目标
及为达到这些目标所采取的步骤。
环境
A2.5Total packaging material used for finished products (in tones) and,
if aplicable, with reference to per unit produced.
Apendix I ESG Key
Performance Indicator
制成品所用包装材料的总量（以吨计算）及（如适用）每生产单位占量。附录
I ESG
关键绩效指标
A3 General disclosurePolicies on minimising the isuer’s significant impact on the
environment and natural resources.
Environmental
A3
一般披露减低发行人对环境及天然资源造成重大影响的政策。环境
A3.1Description of the significant impacts of activities on the environment
and natural resources and the actions taken to manage them.
Environmental
描述业务活动对环境及天然资源的重大影响及已采取管理有关影
响的行动。
环境
A4 General disclosurePolicies on identification and mitigation of significant climate-related
isues which have impacted, and those which may impact, the
isuer.
Environmental
A4
一般披露识别及应对已经及可能会对发行人产生影响的重大气候相关事宜
的政策。
环境
A4.1Description of the significant climate-related isues which have
impacted, and those which may impact, the isuer, and the actions
taken to manage them.
Environmental
描述已经及可能会对发行人产生影响的重大气候相关事宜，及应
对行动。
环境
附录
I
《环境、社会及管治报告指
引》索引（续）
Apendix I ESG Reporting Guide Content
Index (Continued)
Environmental, Social and Governance Report
环境、社会及管治报告
ANUAL REPORT 2025 • 二零二五年报119
ESG indicatorChapter/Disclosure
环境、社会及管治指标章节╱披露内容
B1 General disclosureInformation on the policies and compliance with relevant laws and
regulations that have a significant impact on the isuer relating to
compensation and dismisal, recruitment and promotion, working
hours, rest periods, equal oportunity, diversity, anti-discrimination,
and other benefits and welfare.
Employment and labour
practices
B1
一般披露有关薪酬及解雇、招聘及晋升、工作时数、假期、平等机会、多元
化、反歧视以及其他待遇及福利的政策及遵守对发行人有重大影
响的相关法律及规例的资料。
雇佣及劳工常规
B1.1Total workforce by gender, employment type (for example, ful- or
part-time), age group and geographical region.
Apendix I ESG Key
Performance Indicator
按性别、雇佣类型（如全职或兼职）、年龄组别及地区划分的雇员
总数。
附录
I ESG
关键绩效资料
表
B1.2Employe turnover rate by gender, age group and geographical
region.
Apendix I ESG Key
Performance Indicator
按性别、年龄组别及地区划分的雇员流失比率。附录
I ESG
关键绩效资料
表
B2 General disclosureInformation on the policies and compliance with relevant laws and
regulations that have a significant impact on the isuer relating to
providing a safe working environment and protecting employes
from ocupational hazards.
Ocupational safety and
health
B2
一般披露有关提供安全工作环境及保障雇员避免职业性危害的政策及遵守
对发行人有重大影响的相关法律及规例的资料。
职业安全与健康
B2.1Number and rate of work-related fatalities ocured in each of the
past thre years including the reporting year.
Apendix I ESG Key
Performance Indicator
过去三年（包括汇报年度）每年因工亡故的人数及比率。附录
I ESG
关键绩效指标
B2.2Lost days due to work injury.Apendix I ESG Key
Performance Indicator
因工伤损失工作日数。附录
I ESG
关键绩效指标
B2.3Description of ocupational health and safety measures adopted
and how they are implemented and monitored.
Ocupational safety and
health
描述所采纳的职业健康与安全措施，以及相关执行及监察方法。职业安全与健康
Apendix I ESG Reporting Guide Content
Index (Continued)
附录
I
《环境、社会及管治报告指
引》索引（续）
Environmental, Social and Governance Report
环境、社会及管治报告
Magnus Concordia Group Limited / 融太集团股份有限公司120
ESG indicatorChapter/Disclosure
环境、社会及管治指标章节╱披露内容
B3 General disclosurePolicies on improving employes’ knowledge and skils for
discharging duties at work. Description of training activities.
Employe development
and training
B3
一般披露有关提升雇员履行工作职责的知识及技能的政策。描述培训活动。雇员发展及培训
B3.1The percentage of employes trained by gender and employe
category (e.g. senior management, midle management).
Apendix I ESG Key
Performance Indicator
按性别及雇员类别（如高级管理层、中级管理层）划分的受训雇员
百分比。
附录
I ESG
关键绩效资料
表
B3.2The average training hours completed per employe by gender and
employe category.
Apendix I ESG Key
Performance Indicator
按性别及雇员类别划分，每名雇员完成受训的平均时数。附录
I ESG
关键绩效资料
表
B4 General disclosureInformation on the policies and compliance with relevant laws and
regulations that have a significant impact on the isuer relating to
preventing child and forced labour.
Labour standards
B4
一般披露有关防止童工或强制劳工的政策及遵守对发行人有重大影响的相
关法律及规例的资料。
劳工准则
B4.1Description of measures to review employment practices to avoid
child and forced labour.
Labour standards
描述检讨招聘惯例的措施以避免童工及强制劳工。劳工准则
B4.2Description of steps taken to eliminate such practices when
discovered.
Labour standards
描述在发现违规情况时消除有关情况所采取的步骤。劳工准则
B5 General disclosurePolicies on managing the environmental and social risks of the
suply chain.
Suply chain
management
B5
一般披露管理供应链的环境及社会风险政策。供应链管理
B5.1Number of supliers by geographical region.Apendix I ESG Key
Performance Indicator
按地区划分的供应商数目。附录
I ESG
关键绩效资料
表
B5.2Description of practices relating to engaging supliers, number of
supliers where the practices are being implemented, and how they
are implemented and monitored.
Suply chain
management
描述有关聘用供应商的惯例，向其执行有关惯例的供应商数目，
以及相关执行及监察方法。
供应链管理
B5.3Description of practices used to identify environmental and social
risks along the suply chain, and how they are implemented and
monitored.
Suply chain
management
描述有关识别供应链每个环节的环境及社会风险的惯例，以及相
关执行及监察方法。
供应链管理
Apendix I ESG Reporting Guide Content
Index (Continued)
附录
I
《环境、社会及管治报告指
引》索引（续）
Environmental, Social and Governance Report
环境、社会及管治报告
ANUAL REPORT 2025 • 二零二五年报121
ESG indicatorChapter/Disclosure
环境、社会及管治指标章节╱披露内容
B5.4Description of practices used to promote environmentaly preferable
products and services when selecting supliers, and how they are
implemented and monitored.
Suply chain
management
描述在拣选供应商时促使多用环保产品及服务的惯例，以及相关
执行及监察方法。
供应链管理
B6 General disclosureInformation on the policies and compliance with relevant laws and
regulations that have a significant impact on the isuer relating to
health and safety, advertising, labeling and privacy maters relating
to products and services provided and methods of redres.
Product responsibility
B6
一般披露有关所提供产品和服务的健康与安全、广告、标签及私隐事宜以
及补救方法的政策及遵守对发行人有重大影响的相关法律及规例
的资料。
产品责任
B6.1Percentage of total products sold or shiped subject to recals for
safety and health reasons.
Apendix I ESG Key
Performance Indicator
已售或已运送产品总数中因安全健康理由而须回收的百分比。附录
I ESG
关键绩效指标
B6.2Number of products and service related complaints received and
how they are dealt with.
Apendix I ESG Key
Performance Indicator
接获关于产品及服务的投诉数目以及应对方法。附录
I ESG
关键绩效指标
B6.3Description of the practices relating to observing and protecting
intelectual property rights.
Product Responsibility
描述与维护及保障知识产权有关的惯例。产品责任
B6.4Description of quality asurance proces and recal procedures.Product responsibility
描述质量检定过程及产品回收程式。产品责任
B6.5Description of the consumer data protection and privacy policies,
and how they are implemented and monitored.
Product responsibility
描述消费者资料保障及私隐政策，以及相关执行及监察方法。产品责任
Apendix I ESG Reporting Guide Content
Index (Continued)
附录
I
《环境、社会及管治报告指
引》索引（续）
Environmental, Social and Governance Report
环境、社会及管治报告
Magnus Concordia Group Limited / 融太集团股份有限公司122
ESG indicatorChapter/Disclosure
环境、社会及管治指标章节╱披露内容
B7 General disclosureInformation on the policies and compliance with relevant laws and
regulations that have a significant impact on the isuer relating to
bribery, extortion, fraud and money laundering.
Anti-coruption
B7
一般披露有关防止贿赂、勒索、欺诈及洗黑钱的政策及遵守对发行人有重
大影响的相关法律及规例的资料。
反贪污
B7.1Number of concluded legal cases regarding corupt practices
brought against the isuer or its employes during the reporting
period and the outcomes of the cases.
Apendix I ESG Key
Performance Indicator
于汇报期内对发行人或其雇员提出并已审结的贪污诉讼案件的数
目及诉讼结果。
附录
I ESG
关键绩效资料
表
B7.2Description of preventive measures and whistle-blowing procedures,
how they are implemented and monitored.
Anti-coruption
描述防范措施及举报程式，以及相关执行及监察方法。反贪污
B7.3Description of anti-coruption training provided to directors and
employes.
Anti-coruption
向董事及雇员提供的反贪污培训的描述。反贪污
B8 General disclosurePolicies on comunity engagement to understand the neds of the
comunities where the isuer operates and to ensure its activities
take into consideration the comunities’ interests.
Comunity investment
B8
一般披露有关以社区参与来了解营运所在社区需要和确保其业务活动考虑
社区利益的政策。
社区投资
B8.1Focus areas of contribution (e.g. education, environmental concerns,
labour neds, health, culture, sport).
Comunity investment
专注贡献范畴（如教育、环境事宜、劳工需求、健康、文化、体育）。社区投资
B8.2Resources contributed (e.g. money or time) to the focus area.Comunity investment
在专注范畴所动用资源（如金钱或时间）。社区投资
附录
I
《环境、社会及管治报告指
引》索引（续）
Apendix I ESG Reporting Guide Content
Index (Continued)
Report of
the Directors
董事会报告
Magnus Concordia Group Limited / 融太集团股份有限公司124
Report of the Directors
董事会报告
The Board presents the report of the directors together with the
audited consolidated financial statements of the Company and its
subsidiaries (colectively as the “Group”) for the year ended 31 March
2025.
Busines Review
The information on busines review is set out in the Management and
Discusion and Analysis on pages 13 to 25 of this anual report. Such
discusion forms part of this “Report of the Directors”.
Principal Activities and Geographical Analysis
of Operations
The Company is an investment holding company incorporated in the
Cayman Islands and its subsidiaries are established in Hong Kong,
Mainland China and the British Virgin Islands. The Group is primarily
engaged in manufacturing and trading of printed products, property
development, property investment and treasury busines. The principal
activities and other details of the principal subsidiaries are set out in
note 42 to the consolidated financial statements.
Analysis of the performance of the Group for the year by busines lines
and geographical segments is set out in note 8 to the consolidated
financial statements.
Results and Apropriations
The results of the Group for the year ended 31 March 2025 are set out
in the consolidated financial statements on pages 146 to 244 of this
anual report.
Dividend
The Board has resolved not to recomend the payment of a final
dividend for the year ended 31 March 2025.
Aditional Disclosure Regarding the Modified
Opinion
The independent auditor of the Company isued a disclaimer of opinion
on the consolidated financial statements of the Group for the year
ended 31 March 2025 in the independent auditor’s report. In view of
the disclaimer of opinion, the Board has provided aditional information
in the “Corporate Governance Report”.
董事会谨此提呈董事会报告书连同本公司及其
附属公司（统称「本集团」）截至二零二五年三月
三十一日止年度之经审核综合财务报表。
业务回顾
业务回顾内容已载于本年报第
至
页之管
理层讨论与分析。该讨论构成本「董事会报告」
之一部分。
主要业务及经营地域分析
本公司为一间于开曼群岛注册成立之投资控股
公司及其主要附属公司于香港、中国大陆及英
属处女群岛成立。本集团主要从事印刷产品生
产及销售、物业发展、物业投资及库务业务。
有关主要附属公司之主要业务及其他详情载于
综合财务报表附注
。
本集团于本年度之表现按业务线及地域分部之
分析载于综合财务报表附注
。
业绩及分派
截至二零二五年三月三十一日止年度之本集团
业绩载于本年报第
至
页之综合财务报表。
股息
董事会已议决不建议派付截至二零二五年三月
三十一日止年度之末期股息。
有关经修订意见之额外披露
本公司独立核数师于独立核数师报告中就本集
团截至二零二五年三月三十一日止年度之综合
财务报表出具无法表示意见。鉴于该无法表示
意见，董事会已于「企业管治报告」内提供额外
资料。
ANUAL REPORT 2025 • 二零二五年报125
Report of the Directors
董事会报告
Particulars of Principal Properties
Particulars of principal investment properties and completed properties
for sale held by the Group as at 31 March 2025 are set out on pages
245 to 247 of this anual report.
Financial Sumary
A sumary of the results and of the asets and liabilities of the Group
for the past five financial years is set out on page 248 of this anual
report.
Major Supliers and Customers
Purchases from the Group’s five largest supliers acounted for 65%
of the total purchases for the year and purchases from the largest
suplier included therein amounted to 27%.
Sales to the Group’s five largest customers acounted for les than
51% of the total sales for the year.
None of the Directors, their close asociates or any shareholder (which
to the knowledge of the Directors owned more than 5% of the number
of isued shares of the Company) had any interest in these major
supliers or customers.
Relationship with Supliers and Customers
The Group establishes long-term coperation relationships with
reputable supliers within the industries. The Group implements a
series of procurement management systems and control procedures
so as to select supliers in a prudent maner.
The Group keps god relationship and maintains efective
comunication mechanisms with its customers. This is to ensure that
the Group is wel aware of al customers’ requirements or fedbacks
on a timely basis and provide high quality services to its customers.
主要物业资料
本集团于二零二五年三月三十一日所持有之主
要投资物业及已完工待售物业之资料详载于本
年报第
至
页。
财务概要
本集团最近五个财政年度之业绩与资产及负债
概要载于本年报第
页。
主要供应商及客户
本集团五大供应商作出的采购额占本年度采购
总额
65%
，其中最大供应商占
27%
。
向本集团五大客户作出的销售额占本年度总销
售额不足
51%
。
董事、彼等之紧密联系人或任何股东（据董事所
知拥有本公司已发行股份数目逾
5%
者）概无于
此等主要供应商或客户中拥有任何权益。
与供应商及客户之关系
本集团与业内信誉良好之供应商建立长期合作
关系。本集团实施一系列采购管理制度及监控
程序，以循审慎之方式甄选供应商。
本集团与客户保持良好关系，并维持彼此之间
有效的沟通机制，以确保本集团可及时得知所
有客户之要求或意见回馈，并为客户提供优质
服务。
Magnus Concordia Group Limited / 融太集团股份有限公司126
Report of the Directors
董事会报告
Share Capital
Details of the movement in share capital of the Company during the
year are set out in note 35 to the consolidated financial statements.
Distributable Reserves
Pursuant to the Company’s Article of Asociation, share premium,
other reserve and contributed surplus of the Company are available
for distribution to ordinary shareholders (after deduction of the
acumulated loses) provided that the Company wil be able to pay its
debts as they fal due in the ordinary course of busines imediately
folowing the date on which any such distribution is proposed to be
paid.
Detail of movements in the reserves of the Group during the year are
set out in the consolidated statement of changes in equity on page 149
of the anual report.
Purchase, Sale or Redemption of Securities
During the year ended 31 March 2025, neither the Company nor any
of its subsidiaries purchased, sold or redemed any of the Company’s
securities listed and traded on The Stock Exchange of Hong Kong
Limited (the “Stock Exchange”).
股本
有关本公司于年内股本变动的详情，载于综合
财务报表附注
。
可供分派储备
根据本公司组织章程细则，本公司之股份溢价、
其他储备及缴入盈余（于扣除累计亏损后）可供
分派予普通股东，惟紧随于建议作出任何分
派之日期后本公司将能在日常业务中偿还到期
之债项。
本集团储备于本年内之变动详情载于本年报第
页之综合权益变动表。
买卖或赎回证券
截至二零二五年三月三十一日止年度，本公司
及其任何附属公司概无买卖或赎回本公司于香
港联合交易所有限公司（「香港交易所」）上市及
买卖之任何证券。
ANUAL REPORT 2025 • 二零二五年报127
Report of the Directors
董事会报告
董事
于本年度及截至本年报日期止，本公司之董事
如下：
执行董事
向均先生（于二零二五年二月一日获委任）
周兰女士（于二零二四年九月一日获委任）
牟莉女士（于二零二五年二月一日辞任）
梁繁先生（于二零二四年九月一日辞任）
独立非执行董事
王政君先生
廖英顺先生
王平先生（于二零二四年七月二十日获委任）
徐健锋先生（于二零二四年七月二十日辞任）
根据本公司组织章程细则，三分之一之董事须
于股东周年大会上轮值退任，并可膺选连任。
因此，王政君先生将于本公司即将于二零二五
年八月二十八日（星期四）举行之股东周年大会
上退任，并可于该股东大会上膺选连任。
另外，任何董事由董事会委任以填补董事会临
时空缺或新增董事会成员，按此委任之任何董
事将于下次股东周年大会上任满告退，届时其
将符合资格于会上重选连任。因此向均先生及
周兰女士将于股东周年大会上膺选连任董事。
每位独立非执行董事之任期将为两年，惟须每
三年至少轮值告退及重选一次。
Directors
The Directors during the year and up to the date of this anual report
were:
Executive Directors
Mr. Xiang Jun (apointed on 1 February 2025)
Ms. Zhou Lan (apointed on 1 September 2024)
Ms. Mou Li (resigned on 1 February 2025)
Mr. Liang Fan (resigned on 1 September 2024)
Independent non-executive directors
Mr. Wang Zhengjun
Mr. Liu Ying Shun
Mr. Wang Ping (apointed on 20 July 2024)
Mr. Xu Jianfeng (resigned on 20 July 2024)
In acordance with the Company’s Articles of Asociation, one-third
of the Directors shal retire from ofice by rotation at anual general
meting and be eligible for re-election. Acordingly, Mr. Wang Zhengjun
wil retire and, being eligible, wil ofer themselves for re-election at the
forthcoming anual general meting of the Company to be held on
Thursday, 28 August 2025.
Further, any Director apointed by the Board to fil a casual vacancy
or as an adition to the Board shal hold ofice only until the next
folowing general meting of the Company and shal then be eligible for
re-election at the relevant meting. Acordingly, Mr. Xiang Jun and Ms.
Zhou Lan wil ofer themselves for re-election as Directors at anual
general meting.
The initial term of ofice of each independent non-executive Director wil
be two years, subject to retirement by rotation and re-election at least
once every thre years.
Magnus Concordia Group Limited / 融太集团股份有限公司128
Report of the Directors
董事会报告
董事及高层管理人员之履历详情
董事及高层管理人员于本年报日期之履历详情
载于本年报第
至
页。
董事之服务合约
拟于即将举行之股东周年大会上膺选连任之董
事概无与本公司或其附属公司订有本集团不用
作出赔偿（法定赔偿除外）则不可于一年内终止
之服务合约。
董事于与本集团业务有重大关连
之交易、安排及合约之重大权益
董事或其关连实体概无于本公司、或其任何控
股公司、其附属公司及同系附属公司参与订立
与本集团业务有关连而于本年终或本年内任何
时间仍然生效之任何重大交易、安排及合约中
直接或间接拥有重大权益。
董事于竞争业务之利益
截至二零二五年三月三十一日止年度，概无董
事或其各自紧密联系人（定义见上市规则）于与
本公司及其附属公司业务直接或间接构成或可
能构成竞争的业务中拥有任何权益。
年度独立性确认书
本公司已收到每位独立非执行董事根据上市规
则第
3.13
条所载之每一条指引作出之年度独立
性确认书，本公司认为该等董事均为独立。
Biographical Details of Directors and Senior
Management
Biographical details of the Directors and senior management as at the
date of this anual report are set out on pages 27 to 31 of this anual
report.
Directors’ Service Contracts
None of the Directors being proposed for re-election at the forthcoming
anual general meting has a service contract with the Company or
its subsidiaries which is not terminable by the Group within one year
without payment of compensation, other than statutory compensation.
Directors’ Material Interests in Transactions,
Arangements and Contracts that are
Significant in relation to the Group’s Busines
No transactions, arangements and contracts of significance in relation
to the Group’s busines to which the Company, or any of its holding
companies, its subsidiaries and felow subsidiaries, was a party and
in which a Director or the Director’s conected entities had a material
interest, whether directly or indirectly, subsisted at the end of the year
or at any time during the year.
Directors’ Interest in Competing Busines
During the year ended 31 March 2025, none of the Directors or their
respective close asociates (as defined in the Listing Rules) had
any interest in a busines that competed or was likely to compete,
either directly or indirectly, with the busines of the Company and its
subsidiaries.
Anual Confirmation of Independence
The Company has received from each independent non-executive
Director an anual confirmation of his independence, and the Company
considers such Directors to be independent in acordance with each
and every guideline set out in Rule 3.13 of the Listing Rules.
ANUAL REPORT 2025 • 二零二五年报129
Report of the Directors
董事会报告
管理合约
本年内并无订立或存在任何有关管理及执行本
公司全部或任何主要部份业务之合约。
董事及最高行政人员所持之股份、
相关股份及债券权益及淡仓
于二零二五年三月三十一日，概无本公司董事
及最高行政人员持有或被视为拥有任何本公司
或其任何相联法团（定义见证券及期货条例（「证
券及期货条例」）第
XV
部）之股份、相关股份及
债券权益或淡仓而
(a)
根据证券及期货条例第
XV
部第
及
分部之条文须通知本公司及联交所（包
括彼等根据该等证券及期货条例条文被当作或
视为持有之权益及淡仓）；或
(b)
根据证券及期
货条例第
XV
部第
条规定须登记于其所述之
登记册；或
(c)
根据标准守则须通知本公司及联
交所。
于回顾年度，各董事及最高行政人员以及其配
偶或未满十八岁之子女概无获授或行使任何可
认购本公司、其指明企业或其任何相联法团任
何证券之权利。
Management Contracts
No contracts concerning the management and administration of the
whole or any substantial part of the busines of the Company were
entered into or existed during the year.
Directors’ and Chief Executive’s Interests and
Short Positions in Shares, Underlying Shares
and Debentures
As at 31 March 2025, none of the Directors nor chief executives of the
Company had or was demed to have any interest or short position in
the shares, underlying shares and debentures of the Company or any
of its asociated corporations (within the meaning of Part XV of the
Securities and Futures Ordinance (the “SFO”) which (a) were required
to be notified to the Company and The Stock Exchange pursuant to
the provisions of Divisions 7 and 8 of Part XV of the SFO (including
interests and short positions which they were taken or demed to
have under such provisions of the SFO); or (b) were required, pursuant
to Section 352 of Part XV of the SFO, to be entered in the register
refered to therein; or (c) were required, pursuant to the Model Code,
to be notified to the Company and the Stock Exchange.
During the year under review, none of the Directors and chief
executives nor their spouses or children under 18 years of age were
granted or had exercised any right to subscribe for any securities
of the Company, its specified undertaking or any of its asociated
corporations.
Magnus Concordia Group Limited / 融太集团股份有限公司130
Report of the Directors
董事会报告
主要股东于股份及相关股份之权益
据本公司董事或最高行政人员所知，于二零
二五年三月三十一日，下列人士持有本公司之
股份及相关股份权益及淡仓而根据证券及期货
条例第
XV
部第
及
分部之条文须向本公司披
露，或根据证券及期货条例第
XV
部第
条规
定须登记于其所述之登记册如下：
于本公司普通股之好仓
Substantial Shareholders’ Interests in Shares
and Underlying Shares
So far as is known to the Directors or chief executives of the Company
as at 31 March 2025, the interests and short positions of persons in
the shares and underlying shares of the Company which would fal to
be disclosed to the Company pursuant to the provisions of Divisions
2 and 3 of Part XV of the SFO or which were required, pursuant
to Section 336 of Part XV of the SFO, to be entered in the register
refered to therein were as folows:
Long Positions in the Ordinary Shares of the
Company
Name of ShareholdersCapacity/Nature of Interest
Agregate
Number of
Ordinary
Shares of the
Company Held
Aproximate
Percentage of
Interest in the
Ordinary Shares
of the Company
股东姓名╱名称身份╱权益性质
所持本公司
普通股总数
本公司
普通股权益
概约百分比
Qingda Developments LimitedBeneficial owner1,905,583,473
32.97%
庆达发展有限公司实益拥有人
New Element Investments Limited
(“New Element”) (
「
New Element
」
)
Interest of a controled corporation
受控制法团之权益
1,905,583,473
32.97%
Integrity Fund Limited Partnership
(“Integrity Fund”) (
「
Integrity Fund
」
)
Interest of a controled corporation
受控制法团之权益
1,905,583,473
32.97%
Kapok Wish Investment Limited
(“Kapok Wish”) (
「
Kapok Wish
」
)
Interest of a controled corporation
受控制法团之权益
1,905,583,473
32.97%
Xinsheng International Holding Limited
(“Xinsheng International”)
新盛国际控股有限公司（「新盛国际」）
Interest of a controled corporation
受控制法团之权益
1,905,583,473
32.97%
Zeng DazhangInterest of a controled corporation1,905,583,473
32.97%
曾大章受控制法团之权益
Wang XiqiangInterest of a controled corporation1,905,583,473
32.97%
王锡强受控制法团之权益
Aly Cosmo Group Limited (“Aly Cosmo”)Interest of a controled corporation1,905,583,473
32.97%
联宙集团有限公司（「联宙」）受控制法团之权益
Li LiInterest of a controled corporation1,905,583,473
32.97%
李丽受控制法团之权益
ANUAL REPORT 2025 • 二零二五年报131
Report of the Directors
董事会报告
Name of ShareholdersCapacity/Nature of Interest
Agregate
Number of
Ordinary
Shares of the
Company Held
Aproximate
Percentage of
Interest in the
Ordinary Shares
of the Company
股东姓名╱名称身份╱权益性质
所持本公司
普通股总数
本公司
普通股权益
概约百分比
Juye Investments Limited (“Juye Investments”)
巨业投资有限公司（「巨业投资」）
Interest of a controled corporation
受控制法团之权益
1,905,583,473
32.97%
Zhang JingInterest of a controled corporation1,905,583,473
32.97%
张静受控制法团之权益
Shining Orient Investment Limited
(“Shining Orient”) (
「
Shining Orient
」
)
Interest of a controled corporation
受控制法团之权益
1,905,583,473
32.97%
Pioner Fund Limited Partnership
(“Pioner Fund”) (
「
Pioner Fund
」
)
Interest of a controled corporation
受控制法团之权益
1,905,583,473
32.97%
Hong Kong Huixin Investment Limited
(“Hong Kong Huixin”)
香江汇鑫投资有限公司（「香江汇鑫」）
Interest of a controled corporation
受控制法团之权益
1,905,583,473
32.97%
Higher Cycle Investment Limited
(“Higher Cycle”) (
「
Higher Cycle
」
)
Interest of a controled corporation
受控制法团之权益
1,905,583,473
32.97%
SFund International Investment Fund
Management Limited (“SFund International”)
广州基金国际股权投资基金管理有限公司
（「广州基金国际」）
Interest of a controled corporation
受控制法团之权益
1,905,583,473
32.97%
Guangzhou Huiyin Tianye Equity Investment
Fund Management Company, Limited
广州汇垠天粤股权投资基金管理有限公司
Interest of a controled corporation
受控制法团之权益
1,905,583,473
32.97%
Guangzhou Technology Financial Inovation
Investment Holdings Limited
广州科技金融创新投资控股有限公司
Interest of a controled corporation
受控制法团之权益
1,905,583,473
32.97%
Guangzhou Industrial Investment Fund
Management Company, Limited
广州产业投资基金管理有限公司
Interest of a controled corporation
受控制法团之权益
1,905,583,473
32.97%
Guangzhou City Construction
Investment Group Limited
广州市城市建设投资集团有限公司
Interest of a controled corporation
受控制法团之权益
1,905,583,473
32.97%
Luso International Banking Limited
(“Luso International”)
澳门国际银行（「澳门国际」）
Security interest in the shares
于股份之抵押权益
1,905,583,473
32.97%
Magnus Concordia Group Limited / 融太集团股份有限公司132
Report of the Directors
董事会报告
Name of ShareholdersCapacity/Nature of Interest
Agregate
Number of
Ordinary
Shares of the
Company Held
Aproximate
Percentage of
Interest in the
Ordinary Shares
of the Company
股东姓名╱名称身份╱权益性质
所持本公司
普通股总数
本公司
普通股权益
概约百分比
Huijin Dingsheng International Holding
Company Limited
汇金鼎盛国际控股有限公司
Beneficial owner
实益拥有人
1,618,143,724
28.00%
Xu RuiqiaoInterest of a controled corporation1,618,143,724
28.00%
徐瑞乔受控制法团之权益
Notes:
1. Such interests represented 32.97% of the isued share capital of the Company
owned by Qingda Developments Limited, a company wholy-owned by New
Element, which is in turn wholy-owned by Integrity Fund. The limited partner of
Integrity Fund is Xinsheng International, which is owned 50% by Mr. Zeng Dazhang
and 50% by Mr. Wang Xiqiang. The general partner of Integrity Fund is Kapok
Wish. Kapok Wish is owned as to 30% by Aly Cosmo, 30% by Juye Investments
and 40% by Shining Orient. Aly Cosmo is wholy-owned by Ms. Li Li, and Juye
Investments is wholy-owned by Ms. Zhang Jing. Shining Orient is wholy-owned
by Pioner Fund. The limited partner of Pioner Fund is Hong Kong Huixin, which
is wholy-owned by SFund International. The general partner of Pioner Fund is
Higher Cycle, which is wholy-owned by SFund International. SFund International is
wholy-owned by Guangzhou Huiyin Tianyue Equity Investment Fund Management
Company, Limited (“Huiyin”). Huiyin is wholy-owned by Guangzhou Technology
Financial Inovation Investment Holdings Limited (“Guangzhou Technology”).
Guangzhou Technology is wholy-owned by Guangzhou Industrial Investment Fund
Management Company, Limited (“Guangzhou Industrial”). Guangzhou Industrial is
wholy-owned by Guangzhou City Construction Investment Group Limited, which
is a state-owned enterprise of the People Republic of China. Acordingly, al of the
abovementioned parties were demed to be interested in the interests owned by
Qingda Developments Limited pursuant to Part XV of the SFO.
2. Luso International is interested in 1,905,583,473 shares in its capacity as a person
having a security interest in the shares.
3. Such interests represented 28.00% of the isued share capital of the Company
owned by Huijin Dingsheng International Holding Company Limited, a company
wholy-owned by Ms. Xu Ruiqiao. Acordingly, Ms. Xu Ruiqiao is demed to
be interested in the interests owned by Huijin Dingsheng International Holding
Company Limited pursuant to Part XV of the SFO.
Saved as disclosed above and to the best knowledge of the Directors,
as at 31 March 2025, there was no other person who was recorded
in the register of the Company as having interests or short positions in
the shares or underlying shares of the Company which would fal to be
disclosed to the Company under the provisions of Divisions 2 and 3 of
Part XV of the SFO, or which were required, pursuant to Section 336 of
Part XV of the SFO, to be entered in the register refered to therein.
附注：
1.
该等权益相当于由庆达发展有限公司拥有之本公司
已发行股本之
32.97%
，庆达发展有限公司由
New
Element
全资拥有，而
New Element
则由
Integrity Fund
全资拥有。
Integrity Fund
之有限合伙人为新盛国际
（由曾大章先生及王锡强先生分别拥有
50%
及
50%
权益）。
Integrity Fund
之普通合伙人为
Kapok Wish
。
Kapok Wish
由联宙、巨业投资及
Shining Orient
分别拥
有
30%
、
30%
及
40%
权益。联宙由李丽女士全资拥
有，而巨业投资由张静女士全资拥有。
Shining Orient
由
Pioner Fund
全资拥有。
Pioner Fund
之有限合伙
人为香江汇鑫（由广州基金国际全资拥有）。
Pioner
Fund
之普通合伙人为
Higher Cycle
（由广州基金国际全
资拥有）。广州基金国际由广州汇垠天粤股权投资基
金管理有限公司（「汇垠」）全资拥有。汇垠由广州科技
金融创新投资控股有限公司（「广州科技」）全资拥有。
广州科技由广州产业投资基金管理有限公司（「广州产
业」）全资拥有。广州产业由广州市城市建设投资集团
有限公司（为中华人民共和国有企业）全资拥有。因
此，根据证券及期货条例第
XV
部，上述各方均被视为
于庆达拥有之权益中拥有权益。
2.
澳门国际因其于
1,905,583,473
股份之抵押权益而
拥有该等股份权益。
3.
该等权益相当于由汇金鼎盛国际控股有限公司拥有之
本公司已发行股本之
28.00%
，汇金鼎盛国际控股有
限公司由徐瑞乔女士全资拥有。因此，根据证券及期
货条例第
XV
部，徐瑞乔女士被视为于汇金鼎盛国际控
股有限公司拥有之权益中拥有权益。
除上文所披露者外且就董事所深知，于二零
二五年三月三十一日，据本公司有关登记册所
记录，概无其他人士持有本公司之股份或相关
股份权益或淡仓而根据证券及期货条例第
XV
部
第
及
分部之条文须向本公司披露，或根据证
券及期货条例第
XV
部第
条规定须登记于其
所述之登记册。
ANUAL REPORT 2025 • 二零二五年报133
Report of the Directors
董事会报告
控股东于合约之权益
本年内及截至本年报日期止，本公司或其任何
附属公司概无与本公司控股东或其任何附属
公司订立任何重大合约。
购股权计划
本公司之购股权计划（「该计划」）概要载列如下：
Controling Shareholder’s Interest in
Contracts
There was no contract of significance betwen the Company or any
of its subsidiaries and the controling shareholder of the Company or
any of its subsidiaries during the year and up to the date of this anual
report.
Share Option Scheme
A sumary of the share option scheme of the Company (the “Scheme”)
is set out as folows:
1.Purpose:To give incentive to non-executive Directors, employes, supliers,
customers or busines consultants of the Group and any other party
as aproved under the Scheme.
目的：给予本集团之非执行董事、雇员、供应商、客户或业务顾问和该
计划批准之任何其他人士奖励。
2.Participants:Including, inter alia, non-executive Directors, employes, supliers,
customers or busines consultants of the Group.
参与者：包括（其中包括）本集团之非执行董事、雇员、供应商、客户或业
务顾问。
3.Total number of shares available for isue
under the Scheme and percentage of the
isued share capital that it represents as at
the date of this anual report:
577,919,666 ordinary shares are available for isue under the
Scheme, representing 10% of the isued share capital as at the date
of this anual report.
根据该计划可发行之股份总数及其于本年
报日期所占之已发行股本百分比：
根据该计划可予发行
577,919,666
股普通股，相当于本年报日期已
发行股本
10%
。
4.Maximum entitlement of each participant:The maximum number of shares isuable under options granted
to each eligible participant in acordance with the Scheme within
any 12-month period is limited to 1% of the isued share capital
of the Company (or such other percentage as may from time to
time be permited under the Listing Rules and al other aplicable
laws and regulations) at any time. Any further grant is subject to the
shareholders’ aproval in general meting with the participant and the
close asociates of such participant abstaining from voting.
每名参与者可获授之购股权上限：根据该计划授予各合资格参与者的购股权于任何
个月期间内的
可发行最高股份数目限于本公司于任何时间已发行股本的
1%
（或
上市规则及所有其他适用法律及法规不时准许之有关其他百分比）。
任何进一步授出须待股东于股东大会上批准且该参与者及该参与
者的紧密联系人放弃投票后方可作实。
Magnus Concordia Group Limited / 融太集团股份有限公司134
Report of the Directors
董事会报告
5.Period within which the shares must be taken
up under an option:
An option may be exercised by the grante at any time during the
period, comencing on the date of ofer for option (the “Ofer Date”)
(which must be a busines day) and in any event such period must
not be more than 10 years from the Ofer Date, subject to any
restrictions or the minimum holding periods or conditions (including
but not limited to any performance targets or the time required for
which an option must be held before it can be exercised) on the
exercise of the options as the comite, which is delegated with
the powers of the Directors to administer the Scheme, in its absolute
discretion may determine. No performance target is expresly
specified in the Scheme.
根据购股权须接纳股份之期限：承授人可于批授购股权日期（「批授日期」）（必须为营业日）起期间
内随时行使购股权，惟无论如何，有关期间不得超过批授日期起
计十年，并须受董事授权管理该计划之委员会就行使购股权全权
酌情决定之任何限制或最短持有期限或条件（包括但不限于任何表
现指标或于行使前规定持有购股权之时限）所规限。该计划并未明
确说明任何表现指标。
No share option has ben granted since the date of adoption of the
Scheme on 31 August 2022.
自该计划于二零二年八月三十一日获采纳后，概无授出任何购
股权。
6.Amount payable on aceptance of an option
and the period within which payments shal be
made:
HK$1.00 payable to the Company upon aceptance of option which
should be taken up within 10 days from the Ofer Date.
接纳购股权时应付之款项及付款期限：购股权须于其批授日期后
天内接纳，而接纳时应付予本公司
1.00
港元。
7.The basis of determining the exercise price:No les than the highest of (i) the closing price of the shares of
the Company as stated in the Stock Exchange’s daily quotations
shet on the Ofer Date (which must be a trading day); (i) the
average closing price of the shares of the Company as stated in the
Stock Exchange’s daily quotations shets for the five trading days
imediately preceding the Ofer Date (which must be a trading day);
and (i) the nominal value of a share of the Company.
行使价厘定基准：不低于下列三项之最高数额：
(i)
联交所每日报价表于批授日期（必
须为交易日）所报本公司股份之收市价；
(i)
联交所每日报价表于紧
接批授日期（必须为交易日）前五个交易日所报本公司股份之平均
收市价；及
(i)
本公司股份面值。
8.The remaining life of the Scheme:Valid until 30 August 2032 unles otherwise terminated under the
terms of the Scheme.
该计划尚余年期：有效年期直至二零三二年八月三十日止，惟若根据该计划条款予
以终止则除外。
ANUAL REPORT 2025 • 二零二五年报135
Report of the Directors
董事会报告
购买股份或债券之安排
除上文「购股权计划」一节所披露外，本公司、
或其任何控股公司、附属公司、同系附属公司
或其他联营公司于回顾年度任何时间概无参与
任何安排，而有关安排之目的或其中一项目的
为使董事、彼等各自的配偶或未满十八岁的子
女可透过购买本公司、其指明企业或其任何相
联法团之股份或债券而获得利益。
股票挂钩安排
除上文「购股权计划」一节所披露之该计划外，
本公司于年内概无订立任何将会或可能导致本
公司发行股票之股票挂钩协议，或须本公司订
立将会或可能导致本公司发行股票之协议，而
于年底亦无存续上述协议。
优先购买权
本公司组织章程细则或开曼群岛法例均无有关
本公司须按比例向现有股东提呈发售新股份之
优先购买权规定。
关连交易
本集团于本年度并未订立任何须根据上市规则
第
14A.49
条于本年报内披露之关连交易或持续
关连交易。有关本集团关联方交易之详情载于
本集团综合财务报表附注
。该等关联方交易
概无构成上市规则第
14A
章项下本集团之关连
交易。
Arangement to Purchase Shares or
Debentures
Other than the section “Share Option Scheme” disclosed above, at
no time during the year under review there subsisted any arangement
to which the Company, or any of its holding companies, subsidiaries,
felow subsidiaries or its other asociated corporations was a party and
the objectives of or one of the objectives of such arangement are/is
to enable the Directors, their respective spouse or children under the
age of 18 to acquire benefits by means of the acquisition of shares in,
or debentures of, the Company, its specified undertaking or any of its
asociated corporations.
Equity-linked Arangements
Save as the Scheme disclosed in the above section “Share Option
Scheme”, no equity-linked agrements that wil or may result in the
Company isuing shares or that require the Company to enter into any
agrements that wil or may result in the Company isuing shares were
entered into by the Company during the year and subsisted at the end
of the year.
Pre-Emptive Rights
There is no provision for pre-emptive rights under the Company’s
Articles of Asociation, or the laws of the Cayman Islands, which would
oblige the Company to ofer new shares on a pro-rata basis to existing
shareholders.
Conected Transaction
The Group did not enter into any conected transactions or continuing
conected transactions during the year which are required to be
disclosed in this anual report pursuant to Rule 14A.49 of the Listing
Rules. Details of the Group’s related party transactions are set out in
note 40 to the Group’s consolidated financial statements. None of
such related party transactions constitutes a conected transaction of
the Group under Chapter 14A of the Listing Rules.
Magnus Concordia Group Limited / 融太集团股份有限公司136
Report of the Directors
董事会报告
企业管治
本公司采纳之企业管治常规报告载于本年报第
至
页。
环境政策
至于环境政策方面，本集团旨在对环境的影响
减至最低。本集团致力于推广有助实现环境可
持续发展之观念及决定。本集团将全面遵守所
有适用之环境法律及法规。我们将以高效节能
的方式利用燃料、水资源及其他自然资源。我
们深知此举将是一个持续改进之过程，我们将
积极寻求环保方案并于适当可行情况下落实环
保措施。
进一步详情将于本年报第
至
页之本公司
环境、社会及管治报告内披露。
获准许的弥偿条文
根据本公司之组织章程细则第
条，各董事
均有权就彼等以董事身份抗辩任何其获判胜诉
或无罪之民事或刑事诉讼所蒙受或引致之一切
损失或责任而从本公司资产中获取赔偿。于回
顾年度，本公司已就董事之责任设立及维持一
项保险。
足够之公众持股量
根据本公司可得之公开资料并就董事所知，于
截至二零二五年三月三十一日止整个年度及截
至本年报日期止，本公司一直保持上市规则所
规定足够之公众持股量。
Corporate Governance
Report for the corporate governance practice adopted by the Company
is set out on pages 33 to 71 of this anual report.
Environmental Policies
With regard to the environmental policies, the Group aims to minimise
the Group’s environmental impact. The Group is comited to
promoting awarenes and decisions that contribute to achieving
environmentaly sustainable development. The Group wil comply fuly
with al aplicable environmental laws and regulations. We wil use
fuel, water and other natural resources eficiently and conservatively.
We recognise this to be a continuous proces of improvement and we
sek to actively lok for environmentaly-friendly options and cary out
environmentaly-friendly practices whenever apropriate and posible.
Further details wil be disclosed in the Environmental, Social and
Governance Report of the Company on pages 73 to 122 of this anual
report.
Permited Indemnity Provision
Under Article 179 of the Company’s Articles of Asociation, every
Director shal be entitled to be indemnified out of the asets of the
Company against al loses or liabilities incured or sustained by
him/her as a Director in defending any procedings, whether civil or
criminal, in which judgment is given in his/her favour, or in which he/
she is acquited. During the year under review, the Company had taken
out and maintained an insurance in respect of the Directors’ liabilities.
Suficiency of Public Float
Based on information that is publicly available to the Company and
within knowledge of the Directors, the Company has maintained
suficient public float as required by the Listing Rules throughout the
year ended 31 March 2025 and up to the date of this anual report.
ANUAL REPORT 2025 • 二零二五年报137
Report of the Directors
董事会报告
雇员数目及薪酬政策
于二零二五年三月三十一日，本集团聘有
名（二零二四年：
名）职员及工人。本集团
为雇员提供多种福利，包括绩效奖金、退休福
利供款、医疗保险及员工培训。此外，本公司
已采纳该计划，提供更多选择方案使雇员职业
目标与本集团业务策略保持一致。该计划的详
情载于本年报「购股权计划」一节。
本集团根据强制性公积金计划条例为香港全体
合资格雇员经营一项界定供款强制性公积金退
休福利计划。中国大陆之附属公司之雇员，乃
中国大陆政府管理之中央退休金计划之成员。
没有已被没收的供款（由雇主代表之前离开退
休福利计划的雇员完全归属于此类贡献）用于
减少现有的于截至二零二五年三月三十一日止
年度的缴款水平。于二零二五年三月三十一日，
本集团退休福利计划项下概无于未来年度内可
供扣减应付供款的已没收供款。
本集团雇员之薪酬政策由薪酬委员会及董事会
根据彼等之长处、资历及能力设立及批准。
董事薪酬由薪酬委员会及由股东于股东周年大
会授权董事会经考虑本集团之营运业绩、个人
表现及可比较市场统计而厘定。
Number of Employes and Remuneration
Policy
As at 31 March 2025, the Group employed 114 (2024: 119) staf and
workers. The Group provides its employes with benefits including
performance-based bonus, retirement benefits contribution, medical
insurance and staf training. Also, the Company adopted the Scheme
to provide alternative means to align the employes’ carer goal with
the Group’s busines strategy. Details of the Scheme are set out in the
section “Share Option Scheme” of this anual report.
The Group operates a defined contribution Mandatory Provident
Fund retirement benefit scheme for al qualifying employes in Hong
Kong under the Mandatory Provident Fund Schemes Ordinance.
The employes of the subsidiaries established in Mainland China are
members of the Central Pension Scheme operated by the Mainland
China government. There were no forfeited contributions (by employers
on behalf of employes who leave the retirement benefits scheme prior
to vesting fuly in such contributions) be used to reduce the existing
level of contributions during the year ended 31 March 2025. As at 31
March 2025, no forfeited contribution under the retirement benefits
schemes of the Group is available to reduce the contribution payable in
future years.
The Group’s remuneration policy for its employes is set up and
aproved by the Remuneration Comite and the Board on the basis
of their merit, qualifications and competence.
The remuneration of the Directors is decided by the Remuneration
Comite and the Board, as authorized by the shareholders in anual
general meting, having regarded to the Group’s operating results,
individual performance and comparable market statistics.
Magnus Concordia Group Limited / 融太集团股份有限公司138
Report of the Directors
董事会报告
附带有关控股东特定履约责任
之契诺之贷款协议
根据上市规则第
13.21
条之披露规定，以下乃就
本公司年内及╱或于年末仍存续的银行贷款融
资作出的披露，当中载有要求本公司的控股
东履行特定履约责任的契诺（该特定履约责任
并不构成或成为偿还贷款的任何财务担保的一
部分）：
于二零二一年一月七日，本公司（作为借款人）
与一家银行（作为贷款人）就一项定期贷款银
行融资订立
1.60
亿港元之定期贷款融资协议，
最终到期日为首次动用之日起满五年。根据贷
款融资协议之条款，本公司向贷款人承诺
(i)
其
须促使广州基金国际须直接或间接仍为
Kapok
Wish
之最大股东，而
Kapok Wish
须仍为
Integrity
Fund
之普通合伙人，及
(i)Integrity Fund
（被视为
于庆达（本公司之控股东及单一最大股东）所
持有之本公司股份中拥有权益）须直接或间接
仍为本公司之最大股东。有关交易详情载于日
期为二零二一年一月七日之公布内。
未能遵守上述规定将构成相关融资协议项下之
违约事件。在此情况下，上文所述之相关贷款
人可能宣布违约及╱或宣布所有未偿还款项连
同应计利息及所有其他本公司应付之款项即时
到期支付。于二零二五年三月三十一日，庆达
作为本公司之最大股东持有本公司
32.97%
的已
发行股本。因此，以上特定履约责任已获遵守。
Loan Agrement(s) with Covenants Relating
to Specific Performance Obligations of the
Controling Shareholders
In acordance with the disclosure requirements of Rule 13.21 of
the Listing Rules, the folowing disclosures are included in respects
of the Company’s bank loan facilities entered into during the year
and/or subsisting at the end of the year, which contain covenants
requiring specific performance obligations of the Company’s controling
shareholders (such specific performance obligations do not constitute
or form part of any financial guarantes for repayment):
On 7 January 2021, the Company, as the borower, entered into a
term loan facility agrement with a bank, as the lender, for a term loan
banking facility of HK$160 milion, with final maturity date faling five
years from the first utilisation date. Pursuant to the terms of the loan
facility agrement, the Company undertok to the lender that (i) it shal
procure that SFund International shal directly or indirectly remain as
the largest shareholder of Kapok Wish, and Kapok Wish shal remain
as the general partner of Integrity Fund, and (i) Integrity Fund (which
is demed to be interested in the shares of the Company held by
Qingda, a controling shareholder and the single largest shareholder
of the Company) shal directly or indirectly remain as the largest
shareholder of the Company. Details of the transaction are set out in
the anouncement dated 7 January 2021.
Failure to comply with the above requirement wil constitute an event
of default under the respective facility agrements. In such case, the
relevant lender stated above may declare the covenants breached
and/or declare al outstanding amounts together with interest acrued
and al other amounts payable by the Company to be imediately due
and payable. As at 31 March 2025, Qingda held 32.97% of the isued
share capital of the Company and is the largest shareholder of the
Company. As such, the above specific performance obligations have
ben complied with.
ANUAL REPORT 2025 • 二零二五年报139
Report of the Directors
董事会报告
股东周年大会
本公司谨订于二零二五年八月二十八日（星期四）
上午十一时正假座香港湾仔轩尼诗道
号温莎
公爵社会服务大厦
楼
室举行二零二五年
股东周年大会（「二零二五年股东周年大会」）。
暂停办理股份过户登记手续
为厘定股东出席二零二四年股东周年大会并于
会上投票的权利，本公司将于二零二五年八月
二十五日（星期一）至二零二五年八月二十八日
（星期四）（包括首尾两日）暂停办理股份过户登
记手续，期间将暂停办理股份过户登记手续。
为符合资格出席二零二五年股东周年大会并于
会上投票，所有股份过户文件连同有关股票须
于二零二五年八月二十二日（星期五）下午四时
三十分前送交本公司之香港股份过户登记分
处卓佳证券登记有限公司，地址为香港夏悫道
号远东金融中心
楼。就厘定股东在大会
合资格出席及投票之记录日期为二零二五年
八月二十八日（星期四）。
账目审阅
审核委员会已审阅本集团截至二零二五年三月
三十一日止年度之综合财务报表，包括本集团
所采纳之会计原则及惯例。
Anual General Meting
The 2025 anual general meting of the Company wil be held on
Thursday, 28 August 2025 (the “2025 AGM”) at 11:00 a.m. at Rom
103, 1/F, Duke of Windsor Social Service Building, 15 Henesy Road,
Wanchai, Hong Kong.
Closure of Register of Members
For the purpose of determining the shareholders’ rights to atend and
vote at the 2025 AGM, the register of members of the Company wil be
closed from Monday, 25 August 2025 to Thursday, 28 August 2025
(both days inclusive), during which period no transfer of shares wil be
efected. In order to be eligible to atend and vote at the 2025 AGM,
al transfer documents acompanied by the relevant share certificates
must be lodged with the Company’s branch share registrar and
transfer ofice in Hong Kong, Tricor Investor Services Limited, at 17/F,
Far East Finance Centre, 16 Harcourt Road, Hong Kong not later than
4:30 p.m. on Friday, 22 August 2025. The record date for ascertaining
Shareholders’ entitlement to atend and vote at the meting is
Thursday, 28 August 2025.
Review of Acounts
The Audit Comite has reviewed the Group’s consolidated
financial statements for the year ended 31 March 2025, including the
acounting principles and practices adopted by the Group.
Magnus Concordia Group Limited / 融太集团股份有限公司140
Report of the Directors
董事会报告
核数师变动
在截至二零二五年三月三十一日止年度前之三
个年度，本公司核数师变动如下：
于二零二一年十月十八日，安永会计师事务所
（「安永」）辞任本公司核数师，及大华马施云会
计师事务所有限公司（「大华马施云」）获委任为
本公司核数师。
于二零二四年三月二十八日，大华马施云辞任
本公司核数师，及中汇安达会计师事务所有限
公司获委任为本公司核数师，以填补因大华马
施云辞任所产生之临时空缺。
以上所述辞任及委任之细节可参考分别日期
为二零二一年十月十八日及二零二四年三月
二十八日之公告。
独立核数师
本集团截至二零二五年三月三十一日止年度之
综合财务报表已由中汇安达会计师事务所有限
公司审核，彼将于二零二五年股东周年大会上
退任且符合资格并愿意续聘为本公司独立核数师。
代表董事会
融太集团股份有限公司
董事
向均
香港，二零二五年六月三十日
Changes of auditor
In the thre years preceding the year ended 31 March 2025, there
were changes of the auditor of the Company as folows:
On 18 October 2021, Mesrs. Ernst & Young resigned as the auditor
of the Company and More Stephens CPA Limited (“More”) was
apointed the auditor of the Company.
On 28 March 2024, More resigned as the auditor of the Company
and ZHONGHUI ANDA CPA Limited was apointed as the auditor
of the Company to fil the casual vacancy folowing the resignation of
More.
The details of the aforesaid resignations and apointments can be
refered to the respective anouncements dated 18 October 2021 and
28 March 2024.
Independent Auditor
The consolidated financial statements of the Group for the year ended
31 March 2025 have ben audited by ZHONGHUI ANDA CPA Limited,
who wil retire and, being eligible, ofer themselves for re-apointment
as independent auditor of the Company at the 2025 AGM.
On behalf of the Board of
Magnus Concordia Group Limited
Xiang Jun
Director
Hong Kong, 30 June 2025
Independent
Auditor’s Report
独立核数师报告
Independent Auditor’s Report
独立核数师报告
142Magnus Concordia Group Limited / 融太集团股份有限公司
INDEPENDENT AUDITOR’S REPORT
TO THE SHAREHOLDERS OF MAGNUS CONCORDIA GROUP
LIMITED
(Incorporated in the Cayman Islands with limited liability)
Disclaimer of Opinion
We were engaged to audit the consolidated financial statements of
Magnus Concordia Group Limited (the “Company”) and its subsidiaries
(colectively refered to as the “Group”) set out on pages 146 to 244,
which comprise the consolidated statement of financial position as at
31 March 2025, and the consolidated statement of profit or los and
other comprehensive income, consolidated statement of changes
in equity and consolidated statement of cash flows for the year then
ended, and notes to the consolidated financial statements, including
material acounting policy information.
We do not expres an opinion on the consolidated financial statements
of the Group. Because of the significance of the mater described in
the Basis for Disclaimer of Opinion section of our report, we have not
ben able to obtain suficient apropriate audit evidence to provide a
basis for an audit opinion on these consolidated financial statements. In
al other respects, in our opinion, the consolidated financial statements
have ben properly prepared in compliance with the disclosure
requirements of the Hong Kong Companies Ordinance.
独立核数师报告
致融太集团股份有限公司股东
（于开曼群岛注册成立之有限公司）
无法表示意见
我们获委聘审计列载于第
至
页的融太
集团股份有限公司（「贵公司」）及其附属公司（统
称「贵集团」）的综合财务报表，其中包括于二零
二五年三月三十一日的综合财务状况表、截至
该日止年度的综合损益及其他全面收益表、综
合权益变动表及综合现金流量表，以及综合财
务报表附注，包括重大会计政策资料。
我们不对 贵集团的综合财务报表发表意见。
由于我们报告中「无法表示意见之基础」一节所
述事项之重要性，吾等未能取得充分适当之审
计凭证，作为对该等综合财务报表发表审计意
见之基础。在所有其他方面，我们认为综合财
务报表已遵照香港公司条例的披露规定妥为编制。
Independent Auditor’s Report
独立核数师报告
143ANUAL REPORT 2025 • 二零二五年报
Basis for Disclaimer of Opinion
Scope limitation relating to apropriatenes of the going concern basis
of acounting
We draw atention to note 2 to the consolidated financial statements,
which mentions that the Group incured a los of HK$85,172,000 and
had net operating cash outflow of HK$11,768,000 for the year ended
31 March 2025 and as at 31 March 2025 the Group had net curent
liabilities of HK$182,578,000. In adition, the Group’s bank loans with
the agregate amount of HK$88,000,000 as at 31 March 2025 contain
repayment on demand clause and financial covenants which were
breached during the year ended 31 March 2025, as detailed in note
32 to the consolidated financial statements. These conditions indicate
the existence of a material uncertainty which may cast significant doubt
on the Group’s ability to continue as a going concern and, therefore,
that the Group may not be able to realise its asets and discharge its
liabilities in the normal course of busines.
The consolidated financial statements have ben prepared on a
going concern basis. The directors of the Company adopted several
measures together with other measures in progres as described in
note 2 to the consolidated financial statements to mitigate the liquidity
presure and improve its financial position and cash flows.
In respect of the Group has actively caried out promotional activities to
atract more customers to purchase the completed properties in order
to increase the sale proceds through sales or pre-sales in the coming
twelve months and seking for other alternatives to increase its working
capital such as disposing of the Group’s investment properties,
management was unable to provide us with suficient information about
the details of the plan, including the detailed timetable and actions
to be implemented because of the unpredictable market changes.
Acordingly, we were unable to obtain suficient apropriate audit
evidence that we considered necesary to evaluate the Group’s ability
to acelerate the sales of its properties.
In respect of seking for other alternative financing and bank
borowings to finance, the setlement of the existing financial
obligations and future operating and capital expenditure, management
was unable to provide us with suficient information about the details
of the fund-raising plan and no new financing agrements have ben
reached. Acordingly, we were unable to obtain suficient apropriate
audit evidence that we considered necesary to evaluate the Group’s
ability to have the new financing.
无法表示意见之基础
与使用持续经营为会计基础之合适性有关的范
围限制
我们谨请垂注综合财务报表附注
，当中提
及 贵集团截至二零二五年三月三十一日止
年度录得亏损
85,172,000
港元及经营现金
流出净额
11,768,000
港元，而于二零二五年
三月三十一日， 贵集团之流动负债净额为
182,578,000
港元。此外， 贵集团于二零二五
年三月三十一日总额为
88,000,000
港元之银行
贷款载有按要求偿还条款及财务契诺，其于截
至二零二五年三月三十一日止年度内已遭违反，
详情载于综合财务报表附注
。该等情况显示
存在重大不确定性，可能会对 贵集团持续经
营的能力构成重大疑虑，因此 贵集团可能无
法在正常业务过程中变现其资产及清偿其负债。
综合财务报表乃按持续经营基准编制。如综合
财务报表附注
所述， 贵公司董事已采取多项
措施以及其他进行中之措施，以减轻流动资金
压力及改善其财务状况及现金流量。
就 贵集团已积极进行推广活动以吸引更多客
户购买已完工物业，从而于未来十二个月透过
销售或预售增加销售所得款项，并寻求其他方
法增加营运资金（例如出售 贵集团的投资物
业）而言，由于市场变化难以预测，管理层未能
向我们提供有关计划详情的充足资料，包括详
细时间表及将实施的行动。因此，我们无法取
得我们认为属必要的充分适当审计凭证，以评
估 贵集团加快出售其物业的能力。
就寻求其他替代融资及银行借贷以提供资金用
于清偿现有财务责任及未来营运及资本开支而
言，管理层未能向我们提供有关筹资计划详情
的充足资料，且尚未达成任何新的融资协议。
因此，我们无法取得吾等认为必要的充分适当
审计凭证，以评估 贵集团获取新融资的能力。
Independent Auditor’s Report
独立核数师报告
144Magnus Concordia Group Limited / 融太集团股份有限公司
无法表示意见之基础（续）
鉴于上述范围限制，我们并无其他可供执行的
替代程序可令我们信纳 贵集团将能够实施其
计划及措施，因此，我们未能取得我们认为必
要且充分适当的凭证，以就采用持续经营会计
基准编制该综合财务报表适当与否作出结论。
倘 贵集团未能实现上述计划及措施，则可能
无法继续以持续经营的方式经营，并须作出调
整，将 贵集团资产的账面值撇减至其可收回
金额，为任何可能产生的进一步负债作出拨备，
以及将非流动资产及非流动负债分别重新分类
为流动资产及流动负债。这些调整的影响并未
反映在该等综合财务报表中。
董事就综合财务报表须承担的责任
董事须负责根据香港会计师公会（「香港会计师
公会」）颁布的《香港财务报告会计准则》及香港
《公司条例》的披露规定拟备真实而中肯的综合
财务报表，并对其认为使综合财务报表的拟
备不存在由于欺诈或错误而导致的重大错误陈
述所需的内部控制负责。
在拟备综合财务报表时，董事负责评估 贵集
团持续经营的能力，并在适用情况下披露与持
续经营有关的事项，以及使用持续经营为会计
基础，除非董事有意将 贵集团清盘或停止经
营，或别无其他实际的替代方案。
Basis for Disclaimer of Opinion (Continued)
In view of the above scope limitation, there were no other alternative
procedures that we could perform to satisfy ourselves that the Group
would be able to implement its plans and measures, as a result, we
were unable to obtain suficient apropriate evidence we considered
necesary to conclude whether the use of the going concern basis
of acounting to prepare the consolidated financial statements is
apropriate.
Should the Group fail to achieve the above-mentioned plans and
measures, it might not be able to continue to operate as a going
concern, and adjustments would have to be made to write down the
carying values of the Group’s asets to their recoverable amounts,
to provide for any further liabilities which might arise, and to reclasify
non-curent asets and non-curent liabilities as curent asets and
curent liabilities, respectively. The efect of these adjustments has not
ben reflected in the consolidated financial statements.
Responsibilities of Directors for the
Consolidated Financial Statements
The directors are responsible for the preparation of the consolidated
financial statements that give a true and fair view in acordance with
HKFRS Acounting Standards isued by the Hong Kong Institute
of Certified Public Acountants (the “HKICPA”) and the disclosure
requirements of the Hong Kong Companies Ordinance, and for such
internal control as the directors determine is necesary to enable the
preparation of consolidated financial statements that are fre from
material mistatement, whether due to fraud or eror.
In preparing the consolidated financial statements, the directors are
responsible for asesing the Group’s ability to continue as a going
concern, disclosing, as aplicable, maters related to going concern
and using the going concern basis of acounting unles the directors
either intend to liquidate the Group or to cease operations, or have no
realistic alternative but to do so.
Independent Auditor’s Report
独立核数师报告
145ANUAL REPORT 2025 • 二零二五年报
核数师就审计综合财务报表承担
的责任
我们的责任是根据香港会计师公会颁布的香港
审计准则审核 贵集团的综合财务报表及发布
核数师报告。然而，由于我们报告中「无法表示
意见之基础」一节内所述事项的重要性，我们未
能取得充分适当的审计凭证为该等综合财务报
表的审计意见提供基础。
根据香港会计师公会颁布的专业会计师道德守
则（以下简称「守则」），我们独立于 贵集团，
并已履行守则中的其他职业道德责任。
中汇安达会计师事务所有限公司
执业会计师
杨匡俊
审核项目董事
执业证书编号
P07374
香港，二零二五年六月三十日
Auditor’s Responsibilities for the Audit of the
Consolidated Financial Statements
Our responsibility is to conduct an audit of the Group’s consolidated
financial statements in acordance with Hong Kong Standards on
Auditing isued by the HKICPA and to isue an auditor’s report.
However, because of the mater described in the Basis for Disclaimer
of Opinion section of our report, we were not able to obtain suficient
apropriate audit evidence to provide a basis for an audit opinion on
these consolidated financial statements.
We are independent of the Group in acordance with the HKICPA’s
Code of Ethics for Profesional Acountants (the “Code”), and we have
fulfiled our other ethical responsibilities in acordance with the Code.
ZHONGHUI ANDA CPA Limited
Certified Public Acountants
Yeung Hong Chun
Audit Engagement Director
Practising Certificate Number P07374
Hong Kong, 30 June 2025
| 2025 |
|---|
| HK$’000 |
| 千港元 205,814 |
| (167,670) |
| 38,144 |
| (10,558) |
| (8,779) |
| (35,950) |
| (15,373) |
| 1,842 |
| (48,059) |
| – |
| (78,733) |
| (7,435) |
| (86,168) |
| 996 |
| (85,172) |
| (307) |
| (85,479) |
| (1.47) |
Consolidated Statement of Profit or Los and Other Comprehensive Income
For the year ended 31 March 2025综合损益及其他全面收益表
截至二零二五年三月三十一日止年度
146Magnus Concordia Group Limited / 融太集团股份有限公司
NotesHK$’000
附注千港元
Revenue
收入
9271,012
Cost of sales
销售成本
(221,481)
Gros profit
毛利
49,531
Other income, expense and net loses
其他收入、支出及亏损净额
10(7,277)
Seling and marketing expenses
销售及推广支出
(15,249)
Administrative and other operating
expenses
行政费用及其他经营支出
(66,482)
Impairment of stock of properties
物业存货减值
11(4,548)
Reversal of impairment/(impairment)
of acounts receivable
应收账款减值拨回╱（减值）
26(2,960)
Change in fair value of investment
properties
投资物业之公平值变动
20(71,650)
Fair value change of financial asets
at fair value through profit or los
按公平值计入损益之金融资产
之公平值变动
(488)
Operating los
经营亏损
12(119,123)
Finance costs
融资费用
13(10,151)
Los before tax
除税前亏损
(129,274)
Income tax credit
所得税抵免
1411,857
Los for the year
本年度亏损
(117,417)
Other comprehensive los:
其他全面亏损：
Item that may be reclasified to profit
or los:
可能重新分类至损益的项目：
Exchange diferences on translation
of foreign operations
换算海外业务之汇兑差额
(5,767)
Total comprehensive los for the
year atributable to owners
of the Company
本公司拥有人应占本年度
全面亏损总额
(123,184)
Basic and diluted los per share
(HK cents)
每股基本及摊薄亏损（港仙）
17(2.03)
| 2025 |
|---|
| HK$’000 |
| 千港元 |
| 9,685 |
| 3,632 |
| 231,600 |
| 424 |
| 11,490 |
| 3,220 |
| 260,051 |
| 8,903 |
| 179,324 |
| 66,824 |
| 69,788 |
| 3,559 |
| 20,299 |
| 348,697 |
| 60,360 |
| 44,362 |
| 3,741 |
| 127,654 |
| 294,364 |
| 794 |
| 531,275 |
| (182,578) |
| 77,473 |
Consolidated Statement of Financial Position
As at 31 March 2025综合财务状况表
于二零二五年三月三十一日
147ANUAL REPORT 2025 • 二零二五年报
NotesHK$’000
附注千港元
Non-curent asets
非流动资产
Property, plant and equipment
物业、厂房及设备
1811,427
Right-of-use asets
使用权资产
1913,396
Investment properties
投资物业
20320,804
Intangible asets
无形资产
22–
Other asets
其他资产
2316,407
Defered tax asets
递延税项资产
343,473
Total non-curent asets
非流动资产总值
365,507
Curent asets
流动资产
Inventories
存货
2410,197
Completed properties for sale
已完工待售物业
25262,501
Acounts receivable
应收账款
2632,848
Prepayments, other receivables
and other asets
预付款项、其他应收账款
及其他资产
2748,659
Restricted bank balances
受限制银行结存
Cash and bank balances
现金及银行结存
2835,308
Total curent asets
流动资产总值
389,521
Curent liabilities
流动负债
Acounts payable
应付账款
2965,965
Acrued charges and other payables
应计费用及其他应付账款
3052,654
Contract liabilities
合约负债
318,484
Bank and other borowings
银行及其他借款
32129,432
Tax payable
应付税项
297,625
Lease liabilities
租赁负债
331,523
Total curent liabilities
流动负债总额
555,683
Net curent liabilities
流动负债净值
(166,162)
Total asets les curent liabilities
总资产减流动负债
199,345
| 2025 |
|---|
| HK$’000 |
| 千港元 |
| 4,000 |
| 16,190 |
| 625 |
| 20,815 |
| 56,658 |
| 577,920 |
| (521,262) |
| 56,658 |
Consolidated Statement of Financial Position
As at 31 March 2025综合财务状况表
于二零二五年三月三十一日
148Magnus Concordia Group Limited / 融太集团股份有限公司
NotesHK$’000
附注千港元
Non-curent liabilities
非流动负债
Bank and other borowings
银行及其他借款
3226,379
Defered tax liabilities
递延税项负债
3421,347
Lease liabilities
租赁负债
339,482
Total non-curent liabilities
非流动负债总额
57,208
NET ASETS
资产净值
142,137
Equity
权益
Equity atributable to owners
of the Company
本公司拥有人应占权益
Share capital
股本
35577,920
Deficit
亏绌
(435,783)
TOTAL EQUITY
权益总额
142,137
The consolidated financial statements on pages 146 to 244 were
aproved and authorised for isue by the Board of Directors on 30
June 2025 and are signed on its behalf by:
Zhou LanXiang Jun
周兰向均
DirectorDirector
董事董事
第
页至第
页的综合财务报表于二零
二五年六月三十日经董事会批准及授权刊发，
并由以下董事代表签署：
| 577,920 | 331,610* | 4,000* | 24,000* | 5,964* | (801,357)* | 142,137 |
|---|---|---|---|---|---|---|
| – | – | – | – | – | (85,172) | (85,172) |
| – | – | – | – | (307) | – | (307) |
| – | – | – | – | (307) | (85,172) | (85,479) |
| 577,920 | 331,610* | 4,000* | 24,000* | 5,657* | (886,529)* | 56,658 |
Consolidated Statement of Changes in Equity
For the year ended 31 March 2025综合权益变动表
截至二零二五年三月三十一日止年度
149ANUAL REPORT 2025 • 二零二五年报
Share
capital
Share
premium
Other
reserve
Merger
reserve
Exchange
reserve
Acumulated
loses
Total
equity
股本股份溢价其他储备合并储备汇兑储备累计亏损权益总额
HK$’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
(note i)(note i)(note i)
（附注
i
）（附注
i
）（附注
i
）
At 1 April 2023
于二零二三年四月一日
577,920331,6104,00024,00011,731(683,940)265,321
Los for the year
年度亏损
–(117,417)(117,417)
Other comprehensive los for the year:
年度其他全面亏损：
Exchange diferences on translation
of foreign operations
换算海外业务之汇兑差额
–(5,767)–(5,767)
Total comprehensive los for the year
年度全面亏损总额
–(5,767)(117,417)(123,184)
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
Los for the year
年度亏损
Other comprehensive los for the year:
年度其他全面亏损：
Exchange diferences on translation
of foreign operations
换算海外业务之汇兑差额
Total comprehensive los for the year
年度全面亏损总额
At 31 March 2025
于二零二五年三月三十一日
Notes
(i) Pursuant to the special resolution aproved by the shareholders of the Company
in the 2016 anual general meting of the Company, share premium, other reserve
and contributed surplus of the Company are available for distribution to ordinary
shareholders of the Company (after deduction of the acumulated loses) provided
that the Company wil be able to pay its debts as they fal due in the ordinary
course of busines imediately folowing the date on which any such distribution is
proposed to be paid.
(i) Other reserve represents the exces of the face value of redemable preference
shares over the consideration paid upon redemption in 2004.
(i) Merger reserve represents the diference betwen the nominal value of shares of
the acquired subsidiaries and the nominal value of the Company’s ordinary shares
isued for the acquisition at the time of a group reorganisation in 1996.
- $521,262,000
(2024: HK$435,783,000) in the consolidated statement of financial position.
附注：
(i)
根据本公司股东于本公司二零一六年股东周年大会上
批准之特别决议案，本公司之股份溢价、其他储备及
缴入盈余（于扣除累计亏损后）可供分派予本公司普通
股东，惟紧随于建议作出任何分派之日期后本公司
须能在日常业务中支付到期之债项。
(i)
其他储备乃指可赎回优先股面值超过二零四年赎回
时所付代价之数额。
(i)
合并储备乃指于一九六年集团重组时所收购附属公
司股份之面值与本公司因收购事项而发行普通股之面
值之差额。
*
该等储备账目包括综合财务状况表的综合亏绌
521,262,000
港元
(
二零二四年
: 435,783,000
港元
)
。
| 2025 |
|---|
| HK$’000 |
| 千港元 |
| (86,168) |
| 7,435 |
| 2,500 |
| 853 |
| 424 |
| 15,373 |
| 351 |
| (1,842) |
| 4,917 |
| – |
| (11) |
| 7,089 |
| 74 |
| – |
| 48,059 |
| (375) |
| (577) |
| (1,898) |
| 870 |
| 66,193 |
| (32,134) |
| (21,492) |
| – |
| (5,374) |
| (8,186) |
| (4,735) |
| (6,756) |
| (5,012) |
| (11,768) |
Consolidated Statement of Cash Flows
For the year ended 31 March 2025综合现金流量表
截至二零二五年三月三十一日止年度
150Magnus Concordia Group Limited / 融太集团股份有限公司
HK$’000
千港元
Cash flows from operating activities
经营活动所得现金流量
Los before tax
除税前亏损
(129,274)
Adjustments for:
调整：
Finance costs
融资费用
10,151
Depreciation of property, plant and equipment
物业、厂房及设备折旧
3,117
Depreciation of right-of-use asets
使用权资产折旧
1,613
Impairment/(reversal of impairment)
of inventories
存货减值╱（减值拨回）
(350)
Impairment of stock of properties
物业存货减值
4,548
Impairment of intangible asets
无形资产减值
–
(Reversal of impairment)/impairment
of acounts receivable
应收账款（减值拨回）╱减值
2,960
Write-down of other asets
其他资产之撇减
7,755
Impairment of prepayments
预付款项减值
Gain on disposal of property,
plant and equipment
出售物业、厂房及设备
之收益
(1,530)
Los on disposal of investment properties
出售投资物业之亏损
–
Los on lease termination
租赁终止之亏损
–
Fair value change of financial asets at fair
value through profit or los
按公平值计入损益之
金融资产之公平值变动
Change in fair value of investment properties
投资物业之公平值变动
71,650
Bank interest income
银行利息收入
(580)
Net exchange gain
汇兑收益净额
(1,058)
Operating cash flows before movements
in working capital
营运资金变动前之
经营现金流量
(29,730)
Decrease in inventories
存货减少
1,372
Decrease in completed properties for sale
已完工待售物业减少
121,080
(Increase)/decrease in acounts receivable
应收账款（增加）╱减少
6,089
(Increase)/decrease in prepayments,
other receivables and other asets
预付款项、其他应收账款及
其他资产（增加）╱减少
8,999
Decrease in financial asets at fair value
through profit or los
按公平值计入损益之
金融资产减少
Decrease in acounts payable
应付账款减少
(59,603)
(Decrease)/increase in acrued charges
and other payables
应计费用及其他应付账款
（减少）╱增加
4,218
Decrease in contract liabilities
合约负债减少
(9,590)
Cash (used in)/generated from operations
经营活动（所用）／所产生现金
43,635
Mainland China income tax paid
已付中国大陆所得税
(3,514)
Net cash (used in)/generated from
operating activities
经营活动（所用）／所产生
现金净额
40,121
| 2025 |
|---|
| HK$’000 |
| 千港元 |
| (758) |
| (780) |
| (3,551) |
| 11 |
| 33,633 |
| 392 |
| 28,947 |
| 18,247 |
| (42,104) |
| (7,293) |
| (749) |
| (31,899) |
| (14,720) |
| 35,308 |
| (289) |
| 20,299 |
| 20,299 |
Consolidated Statement of Cash Flows
For the year ended 31 March 2025综合现金流量表
截至二零二五年三月三十一日止年度
151ANUAL REPORT 2025 • 二零二五年报
HK$’000
千港元
Cash flows from investing activities
投资活动所得现金流量
Purchases of property, plant and equipment
购买物业、厂房及设备
(872)
Purchases of intangible asets
购买无形资产
–
(Increase)/decrease in restricted bank balances
受限制银行结存（增加）╱减少
Proceds from disposal of property,
plant and equipment
出售物业、厂房及设备
之所得款项
1,640
Proceds from disposal of
investment properties
出售投资物业之所得款项
–
Interest received
已收利息
Net cash generated from
investing activities
投资活动所产生现金净额
2,145
Cash flows from financing activities
融资活动所得现金流量
New bank and other borowings raised
新借银行及其他借款
15,679
Repayment of bank and other borowings
偿还银行及其他借款
(47,175)
Interest paid
已付利息
(10,011)
Repayment of lease liabilities
偿还租赁负债
(1,471)
Net cash used in financing activities
融资活动所用现金净额
(42,978)
Net decrease in cash and cash equivalents
现金及现金等值物减少净额
(712)
Cash and cash equivalents at begining
of the year
年初现金及现金等值物
37,002
Efect of foreign exchange rate changes, net
汇率变动之影响净额
(982)
Cash and cash equivalents at end
of the year
年末现金及现金等值物
35,308
Analysis of balances of cash
and cash equivalents
现金及现金等值物结存分析
Cash and bank balances as stated in the
consolidated statement of financial position
综合财务状况表所载之现金
及银行结存
35,308
Notes to the Consolidated Financial Statements
For the year ended 31 March 2025综合财务报表附注
截至二零二五年三月三十一日止年度
152Magnus Concordia Group Limited / 融太集团股份有限公司
1. GENERAL INFORMATION
Magnus Concordia Group Limited (the “Company”) is a limited
liability company incorporated in the Cayman Islands and listed
on the Main Board of The Stock Exchange of Hong Kong Limited
(the “Stock Exchange”). The registered ofice of the Company is
Cricket Square, Hutchins Drive, P.O. Box 2681, Grand Cayman
KY1-1111, Cayman Islands and its principal place of busines in
Hong Kong is Units 02-03, 7/F, Tung Wai Comercial Building,
109-111 Gloucester Road, Wan Chai, Hong Kong.
The Company is an investment holding company and the
principal activities of the Company and its subsidiaries (colectively
refered as the “Group”) are manufacturing and trading of printed
products, property development, property investment and
treasury busines.
2. GOING CONCERN BASIS
The Group incured a los atributable to owners of the
Company of HK$85,172,000 and had net operating cash
outflow of HK$11,768,000 for the year ended 31 March 2025
and as at 31 March 2025 the Group had net curent liabilities
of HK$182,578,000. In adition, the Group’s bank loans with
the agregate amount of HK$88,000,000 as at 31 March 2025
contain repayment on demand clause and financial covenants
which were breached during the year ended 31 March 2025,
as detailed in note 32 to the consolidated financial statements.
These conditions indicate the existence of a material uncertainty
which may cast significant doubt on the Group’s ability to
continue as a going concern.
The consolidated financial statements have ben prepared on
the asumptions that the Group wil continue to operate as a
going concern notwithstanding the conditions prevailing as at
31 March 2025 and subsequently thereto up to the date when
the consolidated financial statements are authorised for isue.
In order to improve the Group’s financial position, imediate
liquidity and cash flows, and otherwise to sustain the Group as
a going concern, the directors of the Company have adopted
several measures together with other measures in progres at the
date when the consolidated financial statements are authorised
for isue, which include, but are not limited to, the folowings:
1.
一般资料
融太集团股份有限公司（「本公司」）为
于开曼群岛注册成立及在香港联合交易
所有限公司（「联交所」）主板上市之有限
责任公司。本公司之注册办事处地址为
Cricket Square, Hutchins Drive, P.O. Box
2681, Grand Cayman KY1-1111, Cayman
Islands
，在香港之主要营业地点为香港湾
仔告士打道
109–111
号东惠商业大厦
楼
02–03
室。
本公司为一家投资控股公司，本公司及其
附属公司（统称「本集团」）之主要业务活
动为印刷产品生产及销售、物业发展、物
业投资及库务业务。
2.
持续经营基准
截至二零二五年三月三十一日止年
度，本集团产生本公司拥有人应占亏
损
85,172,000
港元及经营现金流出净
额
11,768,000
港元，以及于二零二五年
三月三十一日，本集团流动负债净额为
182,578,000
港元。此外，本集团于二零
二五年三月三十一日有附带按要求偿还
条款以及于截至二零二五年三月三十一
日止年度违反财务契诺的银行借款合共
88,000,000
港元（详情请参阅综合财务报
表附注
）。该等状况显示，本集团持续
经营之能力存在重大疑虑之重大不确定性。
尽管于二零二五年三月三十一日及其后截
至综合财务报表获授权刊发当日出现上述
情况，综合财务报表仍假设本集团将继续
以持续经营基准营运而编制。为改善本集
团之财务状况、可即时动用之流动资金及
现金流，以及让本集团继续以持续经营基
准营运，本公司董事已采纳若干措施，连
同于综合财务报表获授权刊发当日正在进
行的其他措施，包括但不限于以下各项：
Notes to the Consolidated Financial Statements
For the year ended 31 March 2025综合财务报表附注
截至二零二五年三月三十一日止年度
153ANUAL REPORT 2025 • 二零二五年报
2.
持续经营基准（续）
(i)
就于截至二零二五年三月三十一日
止年度本集团违反财务契诺之借
款（分类为流动负债）而言，于报告
期末后，如附注
所披露，本集
团就银行借款
88,000,000
港元，已
获得银行一次性豁免并向银行偿还
4,000,000
港元。此外，该等借款以
约
178,100,000
港元的投资物业作为
抵押。本公司董事认为，若银行对
本集团采取法律行动要求立即还款，
投资物业将被变卖偿还，不会对本
集团的业务、经营及财务状况造成
任何重大不利影响；
(i)
本集团已积极进行推广活动以吸引
更多客户购买已完工物业，以在未
来十二个月透过销售或预售增加销
售所得款项。截至本综合财务报表
的批准日期，本集团已与客户签订
的买卖协议金额为
19,975,000
港元；
(i)
本集团亦将继续寻求其他替代方案
以增加其营运资金，例如在需要时
出售本集团的投资物业；及
(iv)
本集团亦将继续寻求其他替代融资
及银行借款，以就偿还现有财务责
任及未来营运及资本开支提供资金。
假设上述措施能于可见未来成功实施，在
对本集团目前及预测现金状况进行评估
后，本公司董事有信心，本集团将有能力
悉数履行本集团自二零二五年三月三十一
日起计十二个月内到期的财务责任。因
此，本集团之综合财务报表已按持续经营
基准编制。
2. GOING CONCERN BASIS (Continued)
(i) in relation to the borowings that the Group had breached
the financial covenants during the year ended 31 March
2025 and are clasified as curent liabilities, subsequent
to the end of the reporting period, the Group has obtained
a one-of waiver from the bank for the bank borowing of
HK$88,000,000 and repaid HK$4,000,000 to the bank
as disclosed in note 43. Further, the borowings was
secured by a pledge of investment properties amounting
to aproximately HK$178,100,000. The directors of the
Company is of the view that in the event that if the bank
takes any legal action against the Group to demand
imediate repayment, the investment properties wil be
disposed for the setlement, it would not have any material
adverse impact on the busines, operation and financial
conditions of the Group;
(i) the Group has actively caried out promotional activities
to atract more customers to purchase the completed
properties in order to increase the sale proceds through
sales or pre-sales in the coming twelve months. Up to the
date of aproval of these consolidated financial statements,
the Group has signed the sales and purchase agrements
with customers amounting to HK$19,975,000;
(i) the Group wil also continue to sek for other alternatives
to increase its working capital such as disposing of the
Group’s investment properties, if neded; and
(iv) the Group wil also continue to sek for other alternative
financing and bank borowing to finance the setlement of
the existing financial obligations and future operating and
capital expenditure.
On the basis of the sucesful implementation of the measures
described above in the foreseable future and after asesing the
Group’s curent and forecasted cash positions, the directors of
the Company are optimistic that the Group wil be able to met in
ful the Group’s financial obligations as they fal due for the twelve
months from 31 March 2025. Acordingly, the consolidated
financial statements of the Group have ben prepared on the
going concern basis.
Notes to the Consolidated Financial Statements
For the year ended 31 March 2025综合财务报表附注
截至二零二五年三月三十一日止年度
154Magnus Concordia Group Limited / 融太集团股份有限公司
2.
持续经营基准（续）
倘本集团未能继续按持续经营基准经营业
务，则需要作出调整以将本集团资产之账
面值撇减至其可收回金额，并就任何可能
产生的进一步负债计提拨备，并将非流动
资产及非流动负债分别重新分类为流动资
产及流动负债。该等调整之影响并未于该
等综合财务报表内反映。
3.
采纳新订及经修订香港财务报
告会计准则
于本年度内，本集团已采纳香港会计师公
会（「香港会计师公会」）颁布之与其业务
有关，并自二零二四年四月一日开始之会
计年度生效之所有新订及经修订香港财
务报告会计准则。香港财务报告会计准则
包括香港财务报告准则（「香港财务报告
准则」）、香港会计准则（「香港会计准则」）
及诠释。采纳该等新订及经修订香港财务
报告会计准则，并无导致本集团之会计政
策、本集团综合财务报表之呈列方式及于
本年度及过往年度所申报之金额出现任何
重大变动。
本集团并未提早采纳任何已颁布但尚未生
效之新订及经修订香港财务报告会计准
则。应用此等新订及经修订香港财务报告
会计准则不会对本集团之综合财务报表构
成重大影响。本集团已开始评估此等新订
及经修订香港财务报告会计准则之影响，
惟此阶段尚未能评定新订及经修订香港财
务报告会计准则会否对集团业绩及财务状
况构成重大影响。
2. GOING CONCERN BASIS (Continued)
Should the Group be unable to continue in busines as a going
concern, adjustments would have to be made to write down
the carying amounts of the Group’s asets to their recoverable
amounts, to provide for any further liabilities that may arise and
to reclasify non-curent asets and non-curent liabilities as
curent asets and curent liabilities respectively. The efects of
these adjustments have not ben reflected in these consolidated
financial statements.
3. ADOPTION OF NEW AND REVISED HKFRS
ACOUNTING STANDARDS
In the curent year, the Group has adopted al the new and
revised HKFRS Acounting Standards isued by the Hong Kong
Institute of Certified Public Acountants (the “HKICPA”) that
are relevant to its operations and efective for its acounting
year begining on 1 April 2024. HKFRS Acounting Standards
comprise Hong Kong Financial Reporting Standards (“HKFRS”);
Hong Kong Acounting Standards (“HKAS”); and Interpretations.
The adoption of these new and revised HKFRS Acounting
Standards did not result in significant changes to the Group’s
acounting policies, presentation of the Group’s consolidated
financial statements and amounts reported for the curent year
and prior years.
The Group has not aplied the new and revised HKFRS
Acounting Standards that have ben isued but are not yet
efective. The aplication of these new and revised HKFRS
Acounting Standards wil not have material impact on the
consolidated financial statements of the Group. The Group has
already comenced an asesment of the impact of these
new and revised HKFRS Acounting Standards but is not yet
in a position to state whether these new and revised HKFRS
Acounting Standards would have a material impact on its results
of operations and financial position.
Notes to the Consolidated Financial Statements
For the year ended 31 March 2025综合财务报表附注
截至二零二五年三月三十一日止年度
155ANUAL REPORT 2025 • 二零二五年报
4.
重大会计政策
此等综合财务报表乃根据香港财务报告会
计准则、香港公认会计原则，以及香港联
合交易所证券上市规则及香港公司条例适
用之披露规定编制。
此等综合财务报表乃按历史成本惯例编
制，并根据按其公平值入账的投资物业的
重估进行修订。
编制符合香港财务报告会计准则之综合财
务报表须采用若干主要假设及估计，亦要
求董事于应用该等会计政策之过程中作出
判断。该等涉及关键判断之范畴及对此等
综合财务报表而言属重大之假设及估计范
畴，在综合财务报表附注
中披露。
于编制此等综合财务报表时应用之重大会
计政策载列如下。
(a)
综合账目
综合财务报表包括本公司及其附属
公司截至三月三十一日止之财务报
表。附属公司指本集团拥有控制权
之实体。当本集团承受或享有参与
实体所得之可变回报，且有能力透
过其对实体之权力影响该等回报时，
则本集团控制该实体。当本集团之
现有权力赋予其目前掌控有关业务
（即大幅影响实体回报之业务）之能
力时，则本集团对该实体拥有权力。
4. MATERIAL ACOUNTING POLICIES
These consolidated financial statements have ben prepared
in acordance with HKFRS Acounting Standards, acounting
principles generaly acepted in Hong Kong, and the aplicable
disclosures required by the Rules Governing the Listing of
Securities on The Stock Exchange of Hong Kong Limited and by
the Hong Kong Companies Ordinance.
These consolidated financial statements have ben prepared
under the historical cost convention, as modified by the
revaluation of investment properties which are caried at their fair
values.
The preparation of consolidated financial statements in conformity
with HKFRS Acounting Standards requires the use of certain
key asumptions and estimates. It also requires the directors to
exercise its judgements in the proces of aplying the acounting
policies. The areas involving critical judgements and areas where
asumptions and estimates are significant to these consolidated
financial statements, are disclosed in note 5 to the consolidated
financial statements.
The material acounting policies aplied in the preparation of
these consolidated financial statements are set out below.
(a) Consolidation
The consolidated financial statements include the financial
statements of the Company and its subsidiaries made
up to 31 March. Subsidiaries are entities over which the
Group has control. The Group controls an entity when
it is exposed, or has rights, to variable returns from its
involvement with the entity and has the ability to afect
those returns through its power over the entity. The Group
has power over an entity when the Group has existing
rights that give it the curent ability to direct the relevant
activities, i.e. activities that significantly afect the entity’s
returns.
Notes to the Consolidated Financial Statements
For the year ended 31 March 2025综合财务报表附注
截至二零二五年三月三十一日止年度
156Magnus Concordia Group Limited / 融太集团股份有限公司
4.
重大会计政策（续）
(a)
综合账目（续）
在评估控制权时，本集团会考虑其
潜在投票权以及其他人士持有之潜
在投票权，以厘定其是否拥有控制
权。仅在持有人能实际行使潜在投
票权之情况下，方会考虑其权利。
附属公司之账目由其控制权转至本
集团当日起综合入账，直至控制权
终止之日起不再综合入账。
致使控制权丧失之出售一间附属公
司之盈亏为
(i)
出售代价公平值加于
该附属公司保留之任何投资之公平
值，及
(i)
本公司应占该附属公司之
资产净值加任何有关该附属公司之
余下商誉以及任何有关累计外币汇
兑储备两者之间之差额。
集团内公司间之交易、结余及未变
现溢利予以对销。除非交易提供已
转让资产出现减值之凭证，未变现
亏损亦予以对销。附属公司之会计
政策在必要时会作出更改，以确保
与本集团所采纳之政策一致。
损益及其他全面收益各成份归属于
本公司拥有人及非控股东，即使
导致非控股权益出现赤字结余。
4. MATERIAL ACOUNTING POLICIES
(Continued)
(a) Consolidation (Continued)
When asesing control, the Group considers its potential
voting rights as wel as potential voting rights held by other
parties, to determine whether it has control. A potential
voting right is considered only if the holder has the practical
ability to exercise that right.
Subsidiaries are consolidated from the date on which
control is transfered to the Group. They are de-
consolidated from the date the control ceases.
The gain or los on the disposal of a subsidiary that results
in a los of control represents the diference betwen (i) the
fair value of the consideration of the sale plus the fair value
of any investment retained in that subsidiary and (i) the
Company’s share of the net asets of that subsidiary plus
any remaining godwil relating to that subsidiary and any
related acumulated foreign curency translation reserve.
Intragroup transactions, balances and unrealised profits
are eliminated. Unrealised loses are also eliminated unles
the transaction provides evidence of an impairment of the
aset transfered. Acounting policies of subsidiaries have
ben changed where necesary to ensure consistency with
the policies adopted by the Group.
Profit or los and each component of other comprehensive
income are atributed to the owners of the Company and
to the non-controling shareholders even if this results in the
non-controling interests having a deficit balance.
Notes to the Consolidated Financial Statements
For the year ended 31 March 2025综合财务报表附注
截至二零二五年三月三十一日止年度
157ANUAL REPORT 2025 • 二零二五年报
4.
重大会计政策（续）
(b)
业务合并
本集团采用收购法为业务合并中所
收购之附属公司列账。收购成本乃
按所获资产收购日期之公平值、所
发行之股本工具及所产生之负债以
及或然代价计量。收购相关成本于
有关成本产生及接获服务期间确认
为开支。于收购时附属公司之可识
别资产及负债，均按其于收购日期
之公平值计量。
收购成本超出本公司应占附属公司
可识别资产及负债之公平净值之差
额乃列作商誉。本公司应占可识别
资产及负债之公平净值超出收购成
本之差额乃于综合损益内确认为本
公司应占议价收购收益。
对于分段进行之业务合并，先前已
持有之附属公司之权益乃按收购日
期之公平值重新计量，而由此产生
之损益于综合损益内确认。公平值
会加入至收购成本以计算商誉。
倘先前已持有之附属公司之权益之
价值变动已于其他全面收益内确认
（例如可供出售投资），则于其他全
面收益确认之金额乃按在先前已持
有之权益被出售时所须之相同基准
确认。
4. MATERIAL ACOUNTING POLICIES
(Continued)
(b) Busines combination
The acquisition method is used to acount for the
acquisition of a subsidiary in a busines combination.
The cost of acquisition is measured at the acquisition-
date fair value of the asets given, equity instruments
isued, liabilities incured and contingent consideration.
Acquisition-related costs are recognised as expenses in the
periods in which the costs are incured and the services are
received. Identifiable asets and liabilities of the subsidiary
in the acquisition are measured at their acquisition-date fair
values.
The exces of the cost of acquisition over the Company’s
share of the net fair value of the subsidiary’s identifiable
asets and liabilities is recorded as godwil. Any exces
of the Company’s share of the net fair value of the
identifiable asets and liabilities over the cost of acquisition
is recognised in consolidated profit or los as a gain on
bargain purchase which is atributed to the Company.
In a busines combination achieved in stages, the
previously held equity interest in the subsidiary is
remeasured at its acquisition-date fair value and the
resulting gain or los is recognised in consolidated profit
or los. The fair value is aded to the cost of acquisition to
calculate the godwil.
If the changes in the value of the previously held equity
interest in the subsidiary were recognised in other
comprehensive income (for example, available-for-sale
investment), the amount that was recognised in other
comprehensive income is recognised on the same basis as
would be required if the previously held equity interest were
disposed of.
Notes to the Consolidated Financial Statements
For the year ended 31 March 2025综合财务报表附注
截至二零二五年三月三十一日止年度
158Magnus Concordia Group Limited / 融太集团股份有限公司
4.
重大会计政策（续）
(c)
外币换算
(i)
功能及呈报货币
本集团各实体之财务报表内项
目均以该实体业务所在主要经
济环境通行之货币（「功能货
币」）计量。综合财务报表以港
元呈列，该货币为本公司之功
能及呈报货币。
(i)
各实体财务报表之交易及结
余
外币交易于初始确认时使用交
易日期之通行汇率换算为功能
货币。以外币为单位之货币资
产及负债按各报告期末之汇率
换算。此换算政策产生之盈亏
于损益内确认。
按公平值计量及以外币计值之
非货币项目乃按厘定公平值当
日之汇率换算。
当非货币项目之盈亏于其他全
面收益确认时，该盈亏之任何
汇兑部分于其他全面收益确
认。当非货币项目之盈亏于损
益确认时，该盈亏之任何汇兑
部分于损益确认。
4. MATERIAL ACOUNTING POLICIES
(Continued)
(c) Foreign curency translation
(i) Functional and presentation curency
Items included in the financial statements of each
of the Group’s entities are measured using the
curency of the primary economic environment in
which the entity operates (the “functional curency”).
The consolidated financial statements are presented
in Hong Kong dolars, which is the Company’s
functional and presentation curency.
(i) Transactions and balances in each entity’s
financial statements
Transactions in foreign curencies are translated into
the functional curency on initial recognition using the
exchange rates prevailing on the transaction dates.
Monetary asets and liabilities in foreign curencies
are translated at the exchange rates at the end of
each reporting period. Gains and loses resulting
from this translation policy are recognised in profit or
los.
Non-monetary items that are measured at fair
values in foreign curencies are translated using the
exchange rates at the dates when the fair values are
determined.
When a gain or los on a non-monetary item
is recognised in other comprehensive income,
any exchange component of that gain or los is
recognised in other comprehensive income. When a
gain or los on a non-monetary item is recognised in
profit or los, any exchange component of that gain
or los is recognised in profit or los.
Notes to the Consolidated Financial Statements
For the year ended 31 March 2025综合财务报表附注
截至二零二五年三月三十一日止年度
159ANUAL REPORT 2025 • 二零二五年报
4.
重大会计政策（续）
(c)
外币换算（续）
(i)
综合账目时进行换算
功能货币与本公司之呈报货币
不同的所有集团实体之业绩及
财务状况均按以下方法换算为
本公司之呈报货币：
—
各财务状况表所列之资
产及负债按财务状况表
日之收市汇率换算；
—
收入及支出均按平均汇
率换算，除非该平均值
并非为按于交易日之汇
率累计影响之合理近似
值，在此情况下，收入及
支出按交易日期汇率换
算；及
—
一切因此而产生之汇兑
差额均在外币换算储备
内确认。
于综合账目时，换算境外实体
之投资净额及借贷所产生之汇
兑差额于外币换算储备内确
认。当境外业务被出售时，有
关汇兑差额作为出售之盈利或
亏损之一部分于综合损益内确
认。
收购境外实体所产生之商誉及
公平值调整均列为境外实体之
资产及负债，并于结算日换算。
4. MATERIAL ACOUNTING POLICIES
(Continued)
(c) Foreign curency translation (Continued)
(i) Translation on consolidation
The results and financial position of al the Group
entities that have a functional curency diferent from
the Company’s presentation curency are translated
into the Company’s presentation curency as folows:
— Asets and liabilities for each statement of
financial position presented are translated at
the closing rate at the date of that statement of
financial position;
— Income and expenses are translated at average
exchange rates (unles this average is not a
reasonable aproximation of the cumulative
efect of the rates prevailing on the transaction
dates, in which case income and expenses
are translated at the exchange rates on the
transaction dates); and
— Al resulting exchange diferences are
recognised in the foreign curency translation
reserve.
On consolidation, exchange diferences arising
from the translation of the net investment in foreign
entities and of borowings are recognised in the
foreign curency translation reserve. When a foreign
operation is sold, such exchange diferences are
recognised in consolidated profit or los as part of
the gain or los on disposal.
Godwil and fair value adjustments arising on the
acquisition of a foreign entity are treated as asets
and liabilities of the foreign entity and translated at the
closing rate.
Notes to the Consolidated Financial Statements
For the year ended 31 March 2025综合财务报表附注
截至二零二五年三月三十一日止年度
160Magnus Concordia Group Limited / 融太集团股份有限公司
4.
重大会计政策（续）
(d)
物业、厂房及设备
楼宇主要包括厂房、办公室及员工
宿舍。物业、厂房及设备乃按成本
减累计折旧及减值亏损列账。
倘与该项目有关之日后经济利益有
可能流入本集团，及该项目成本能
可靠计量时，则其后成本可计入资
产账面值或确认为个别资产（如适
用）。所有其他维修及保养于其产生
期间在损益确认。
计算物业、厂房及设备折旧之比率
足以按直线法基准于估计可使用年
期内撇销其成本减剩余价值。主要
年度比率如下：
楼宇按楼宇所在租用土
地有关租约年期或
至
年（以较短
者为准）
租赁物业
装修
按有关租约年期
或
20%
（以较短者
为准）
厂房及机器
6.7%
至
33.3%
家具及装置
及办公室
设备
20.0%
至
33.3%
汽车
20.0%
至
33.3%
残值、可使用年期及折旧法会于各
报告期末作出检讨及调整（如适用）。
出售物业、厂房及设备之盈亏为出
售所得款项净额与相关资产之账面
值两者之间差额，于损益确认。
4. MATERIAL ACOUNTING POLICIES
(Continued)
(d) Property, plant and equipment
Buildings comprise mainly factories, ofices and staf
dormitories. Property, plant and equipment are stated at
cost les acumulated depreciation and impairment loses.
Subsequent costs are included in the aset’s carying
amount or recognised as a separate aset, as apropriate,
only when it is probable that future economic benefits
asociated with the item wil flow to the Group and the cost
of the item can be measured reliably. Al other repairs and
maintenance are recognised in profit or los during the
period in which they are incured.
Depreciation of property, plant and equipment is calculated
at rates suficient to write of their cost les their residual
values over the estimated useful lives on a straight-line
basis. The principal anual rates are as folows:
BuildingsOver the shorter of the term
of the relevant lease of the
leasehold land on which the
buildings are situated, or 20
to 30 years
Leasehold improvementsOver the shorter of the term of
the relevant lease, or 20%
Plant and machinery6.7% to 33.3%
Furniture and fixtures
and ofice equipment
20.0% to 33.3%
Motor vehicles20.0% to 33.3%
The residual values, useful lives and depreciation method
are reviewed and adjusted, if apropriate, at the end of
each reporting period.
The gain or los on disposal of property, plant and
equipment is the diference betwen the net sales
proceds and the carying amount of the relevant aset,
and is recognised in profit or los.
Notes to the Consolidated Financial Statements
For the year ended 31 March 2025综合财务报表附注
截至二零二五年三月三十一日止年度
161ANUAL REPORT 2025 • 二零二五年报
4.
重大会计政策（续）
(e)
投资物业
投资物业指为赚取租金收入及╱或
作资本增值而持有之土地及╱或楼
宇。投资物业初步按其成本（包括该
物业所有直接成本）计量。
于初步确认后，投资物业乃按外部
独立估值师厘定之公平值列账。投
资物业公平值变动产生之损益于产
生年度在损益内确认。
出售投资物业之损益乃出售所得款
项净额与该物业之账面值两者之差
额，于损益内确认。
(f)
租赁
本集团作为承租人
租赁于租赁资产可供本集团使用时
确认为使用权资产及相应租赁负债。
使用权资产按成本减累计折旧及减
值亏损列账。使用权资产折旧乃按
资产可使用年期与租赁期两者中之
较短者以直线法按撇销其成本的利
率计算。使用权资产的主要使用年
期或租期如下：
租赁土地
年
楼宇
至
年
汽车
至
年
4. MATERIAL ACOUNTING POLICIES
(Continued)
(e) Investment properties
Investment properties are land and/or buildings held to
earn rentals and/or for capital apreciation. An investment
property is measured initialy at its cost including al direct
costs atributable to the property.
After initial recognition, the investment property is stated at
its fair value based on valuation by an external independent
valuer. Gains or loses arising from changes in fair value of
the investment property are recognised in profit or los for
the period in which they arise.
The gain or los on disposal of an investment property is
the diference betwen the net sales proceds and the
carying amount of the property, and is recognised in profit
or los.
(f) Leases
The Group as lese
Leases are recognised as right-of-use asets and
coresponding lease liabilities when the leased asets
are available for use by the Group. Right-of-use asets
are stated at cost les acumulated depreciation and
impairment loses. Depreciation of right-of-use asets is
calculated at rates to write of their cost over the shorter of
the aset’s useful life and the lease term on a straight-line
basis. The principal useful life or the lease term of right-of-
use asets are as folows:
Leasehold land50 years
Buildings2 to 6 years
Motor vehicles3 to 5 years
Notes to the Consolidated Financial Statements
For the year ended 31 March 2025综合财务报表附注
截至二零二五年三月三十一日止年度
162Magnus Concordia Group Limited / 融太集团股份有限公司
4.
重大会计政策（续）
(f)
租赁（续）
本集团作为承租人（续）
使用权资产乃按成本（包括初始计量
租赁负债金额、预付租赁款项、初
始直接成本及恢复成本）计量。租赁
负债包括按租赁中隐含的利率（如可
厘定）或本集团的递增借贷利率折现
的租赁款项现值净额。各租赁款项
于负债与融资成本之间作出分配。
融资成本于租赁期内在损益内扣除，
以计算租赁负债余下结余的固定期
间利率。
与短期租赁及低价值资产租赁相关
的付款于租赁期内以直线法在损益
内确认为开支。短期租赁乃初始租
赁期为
个月或以下的租赁。低价
值资产为价值低于
5,000
美元的资产。
本集团作为出租人
经营租赁
经营租赁是指主要并无转移资产所
存风险及回报予承租人之租赁。经
营租赁之租金收入于相关租赁期内
以直线法确认。
4. MATERIAL ACOUNTING POLICIES
(Continued)
(f) Leases (Continued)
The Group as lese (Continued)
Right-of-use asets are measured at cost comprising the
amount of the initial measurement of the lease liabilities,
lease payments prepaid, initial direct costs and the
restoration costs. Lease liabilities include the net present
value of the lease payments discounted using the interest
rate implicit in the lease if that rate can be determined, or
otherwise the Group’s incremental borowing rate. Each
lease payment is alocated betwen the liability and finance
cost. The finance cost is charged to profit or los over the
lease term so as to produce a constant periodic rate of
interest on the remaining balance of the lease liability.
Payments asociated with short-term leases and leases of
low-value asets are recognised as expenses in profit or
los on a straight-line basis over the lease terms. Short-
term leases are leases with an initial lease term of 12
months or les. Low-value asets are asets of value below
US$5,000.
The Group as lesor
Operating leases
Leases that do not substantialy transfer to the leses
al the risks and rewards of ownership of asets are
acounted for as operating leases. Rental income from
operating leases is recognised on a straight-line basis over
the term of the relevant lease.
Notes to the Consolidated Financial Statements
For the year ended 31 March 2025综合财务报表附注
截至二零二五年三月三十一日止年度
163ANUAL REPORT 2025 • 二零二五年报
4.
重大会计政策（续）
(g)
加密货币
本集团透过第三方托管服务供应商
购买及持有的加密货币包括
Polkadot
及
Filecoin
，该等加密货币在成本模
式下入账为无形资产。本集团拥有
所持加密货币的所有权及控制权，
并使用第三方托管服务供应商安全
地储存加密货币。本集团持有的加
密货币被视为具有无限年期，因此
无需进行摊销，并每年进行减值测
试，或在事件或情况变化显示其可
能出现减值时进行更频密的减值测试。
(h)
已完工待售物业
持作待售物业按成本值及可变现净
值之较低者入账。物业成本包括收
购成本、预付土地租赁款项、建筑
成本、拨充资本之借款成本及有关
物业应占之其他直接成本。可变现
净值乃参考报告期后收取的所得销
售款项扣除销售开支厘定，或根据
当时市况或参考独立估值师之估值
报告作出估计。
(i)
存货
存货按成本与可变现净值两者之较
低者入账。成本以加权平均法计算。
制成品及在制品的成本包括原材料、
直接工资及按适当比例计算之所有
间接生产支出，以及（如适用）分包
费用。可变现净值乃于日常业务过
程中的估计售价，减完成的估计成
本及作出销售时必需的估计成本。
4. MATERIAL ACOUNTING POLICIES
(Continued)
(g) Cryptocurencies
Cryptocurencies purchased and held by the Group through
third-party custodian service provider include Polkadot
and Filecoin, which are acounted for as intangible asets
under the cost model. The Group has ownership of and
control over the cryptocurencies held and employs third-
party custodian service provider to securely store them.
The cryptocurencies held by the Group are considered
to have an indefinite life. Acordingly, they are not subject
to amortization and are tested anualy for impairment,
or more frequently if events or changes in circumstances
indicate that they might be impaired.
(h) Completed properties held for sale
Properties held for sale are stated at the lower of cost and
net realisable value. Costs of properties include acquisition
costs, prepaid land lease payments, construction costs,
borowing costs capitalised and other direct costs
atributable to such properties. Net realisable value is
determined by reference to sale proceds received after
the reporting period les seling expenses, or by estimates
based on prevailing market condition or reference to a
valuation report from an independent valuer.
(i) Inventories
Inventories are stated at the lower of cost and net realisable
value. Cost is determined using the weighted average
basis. The cost of finished gods and work in progres
comprises raw materials, direct labour and an apropriate
proportion of al production overhead expenditure, and
where apropriate, subcontracting charges. Net realisable
value is the estimated seling price in the ordinary course of
busines, les the estimated costs of completion and the
estimated costs necesary to make the sale.
Notes to the Consolidated Financial Statements
For the year ended 31 March 2025综合财务报表附注
截至二零二五年三月三十一日止年度
164Magnus Concordia Group Limited / 融太集团股份有限公司
4.
重大会计政策（续）
(j)
确认及不再确认金融工具
当本集团成为工具合约条款之一方
时，会在财务状况表确认金融资产
及金融负债。
当自资产收取现金流量之合约权利
届满时；或本集团将资产所有权绝
大部分风险及回报转让时；或本集
团概无转让亦无保留资产所有权之
绝大部分风险及回报惟并无保留对
资产之控制权时，则不再确认金融
资产。于不再确认金融资产时，资
产账面值与已收代价之总和之间的
差额于损益确认。
当有关合约内指定之责任获解除、
取消或届满时不再确认金融负债。
不再确认金融负债之账面值与已付
代价之差额于损益确认。
(k)
金融资产
金融资产根据合约进行买卖，且其
中条款要求于市场所制定时限内交
付金融资产时，有关金融资产按交
易日基准确认及终止确认，并初步
按公平值加直接相关交易成本计量，
惟按公平值计入损益的投资则除外。
按公平值计入损益的收购投资直接
相关交易成本即时于损益确认。
本集团将金融资产分类为按摊销成
本计量的金融资产。
4. MATERIAL ACOUNTING POLICIES
(Continued)
(j) Recognition and derecognition of
financial instruments
Financial asets and financial liabilities are recognised in the
statement of financial position when the Group becomes a
party to the contractual provisions of the instruments.
Financial asets are derecognised when the contractual
rights to receive cash flows from the asets expire; the
Group transfers substantialy al the risks and rewards of
ownership of the asets; or the Group neither transfers nor
retains substantialy al the risks and rewards of ownership
of the asets but has not retained control on the asets.
On derecognition of a financial aset, the diference
betwen the aset’s carying amount and the sum of the
consideration received is recognised in profit or los.
Financial liabilities are derecognised when the obligation
specified in the relevant contract is discharged, canceled
or expires. The diference betwen the carying amount of
the financial liability derecognised and the consideration
paid is recognised in profit or los.
(k) Financial asets
Financial asets are recognised and derecognised on a
trade date basis where the purchase or sale of an aset
is under a contract whose terms require delivery of the
aset within the timeframe established by the market
concerned, and are initialy recognised at fair value, plus
directly atributable transaction costs except in the case of
investments at fair value through profit or los. Transaction
costs directly atributable to the acquisition of investments
at fair value through profit or los are recognised
imediately in profit or los.
Financial asets of the Group are clasified as financial
asets at amortised cost.
Notes to the Consolidated Financial Statements
For the year ended 31 March 2025综合财务报表附注
截至二零二五年三月三十一日止年度
165ANUAL REPORT 2025 • 二零二五年报
4.
重大会计政策（续）
(k)
金融资产（续）
按摊销成本计量的金融资产
符合下列条件的金融资产（包括贸易
及其他应收款项）分类至此类别：
—
资产乃按目的为持有资产以收
集合约现金流量的业务模式持
有；及
—
资产合约条款于特别日期产生
现金流量，有关现金流量仅为
本金或就未偿还本金的利息付
款。
有关项目其后以实际利率法按摊销
成本减预期信贷亏损的亏损拨备计算。
(l)
预期信贷亏损的亏损拨备
本集团就按摊销成本列账的金融资
产的预期信贷亏损确认亏损拨备。
预期信贷亏损为加权平均信贷亏损，
并以发生违约风险的金额作为加权
数值。
于各报告期末，就贸易应收款项而
言，或倘金融工具的信贷风险自初
步确认以来大幅增加，则本集团按
该金融工具的预期限内所有可能
发生违约事件所引致的预期信贷亏
损（「全期预期信贷亏损」）金额，计
量金融工具的亏损拨备。
4. MATERIAL ACOUNTING POLICIES
(Continued)
(k) Financial asets (Continued)
Financial asets at amortised cost
Financial asets (including trade and other receivables)
are clasified under this category if they satisfy both of the
folowing conditions:
— the asets are held within a busines model whose
objective is to hold asets in order to colect
contractual cash flows; and
— the contractual terms of the asets give rise on
specified dates to cash flows that are solely payments
of principal and interest on the principal amount
outstanding.
They are subsequently measured at amortised cost using
the efective interest method les los alowance for
expected credit loses.
(l) Los alowances for expected credit
loses
The Group recognises los alowances for expected credit
loses on financial asets at amortised cost. Expected
credit loses are the weighted average of credit loses with
the respective risks of a default ocuring as the weights.
At the end of each reporting period, the Group measures
the los alowance for a financial instrument at an
amount equal to the expected credit loses that result
from al posible default events over the expected life
of that financial instrument (“lifetime expected credit
loses”) for trade receivables or if the credit risk on that
financial instrument has increased significantly since initial
recognition.
Notes to the Consolidated Financial Statements
For the year ended 31 March 2025综合财务报表附注
截至二零二五年三月三十一日止年度
166Magnus Concordia Group Limited / 融太集团股份有限公司
4.
重大会计政策（续）
(l)
预期信贷亏损的亏损拨备
（续）
于报告期末，倘金融工具（不包括贸
易应收款项）的信贷风险自初步确认
以来并无大幅增加，则本集团会按
相等于反映该金融工具于报告期后
个月内可能发生的违约事件所引
致的预期信贷亏损的部分期限内预
期信贷亏损的金额计量金融工具的
亏损拨备。
预期信贷亏损金额或为调整报告期
末亏损拨备至所需金额所作拨回金
额乃于损益确认为减值收益或亏损。
(m)
现金及现金等值物
就综合现金流量表而言，现金及现
金等值物指银行及手头现金、存放
于银行及其他财务机构之活期存款，
以及短期高流通性之投资（可即时转
换为已知数额现金款项及受极轻微
价值变动风险所限）。现金及现金等
值物亦包括须按要求偿还及为本集
团整体现金管理一部分之银行透支。
(n)
金融负债及股本工具
金融负债及股本工具乃根据合约安
排之实质内容以及香港财务报告会
计准则中金融负债及股本工具之定
义予以分类。股本工具为可证明于
本集团经扣除所有负债后于资产中
拥有之剩余权益之任何合约。就特
定类别之金融负债及股本工具采纳
之会计政策于下文载列。
4. MATERIAL ACOUNTING POLICIES
(Continued)
(l) Los alowances for expected credit
loses (Continued)
If, at the end of the reporting period, the credit risk on a
financial instrument (other than trade receivables) has not
increased significantly since initial recognition, the Group
measures the los alowance for that financial instrument at
an amount equal to the portion of lifetime expected credit
loses that represents the expected credit loses that result
from default events on that financial instrument that are
posible within 12 months after the reporting period.
The amount of expected credit loses or reversal to adjust
the los alowance at the end of the reporting period to
the required amount is recognised in profit or los as an
impairment gain or los.
(m) Cash and cash equivalents
For the purpose of the consolidated statement of cash
flows, cash and cash equivalents represent cash at
bank and on hand, demand deposits with banks and
other financial institutions, and short-term highly liquid
investments which are readily convertible into known
amounts of cash and subject to an insignificant risk of
change in value. Bank overdrafts which are repayable on
demand and form an integral part of the Group’s cash
management are also included as a component of cash
and cash equivalents.
(n) Financial liabilities and equity instruments
Financial liabilities and equity instruments are clasified
acording to the substance of the contractual arangements
entered into and the definitions of a financial liability and an
equity instrument under HKFRS Acounting Standards. An
equity instrument is any contract that evidences a residual
interest in the asets of the Group after deducting al of
its liabilities. The acounting policies adopted for specific
financial liabilities and equity instruments are set out below.
Notes to the Consolidated Financial Statements
For the year ended 31 March 2025综合财务报表附注
截至二零二五年三月三十一日止年度
167ANUAL REPORT 2025 • 二零二五年报
4.
重大会计政策（续）
(o)
借款
借款初步按公平值，扣除所产生之
交易成本确认，其后使用实际利率
法按摊销成本计量。
除非本集团有无条件权利延迟偿还
负债直至报告期后最少十二个月，
否则借款应分类为流动负债。
(p)
贸易及其他应付款项
贸易及其他应付款项初始按公平值
列账，其后采用实际利率法，以摊
销成本计量，除非贴现影响甚微，
在此情况下，则按成本列账。
(q)
财务担保合约负债
财务担保合约负债初步按公平值确
认，其后按以下列较高者计量：
—
亏损拨备；及
—
初步确认金额减担保合约期内
损益中确认的累计摊销。
(r)
股本工具
本公司发行的股本工具按已收所得
款项记录，扣除直接发行成本。
4. MATERIAL ACOUNTING POLICIES
(Continued)
(o) Borowings
Borowings are recognised initialy at fair value, net of
transaction costs incured, and subsequently measured at
amortised cost using the efective interest method.
Borowings are clasified as curent liabilities unles the
Group has an unconditional right to defer setlement of the
liability for at least 12 months after the reporting period.
(p) Trade and other payables
Trade and other payables are stated initialy at their fair
value and subsequently measured at amortised cost
using the efective interest method unles the efect of
discounting would be imaterial, in which case they are
stated at cost.
(q) Financial guarante contract liabilities
Financial guarante contract liabilities are initialy recognised
at fair value and subsequently measured at the higher of:
— the los alowance; and
— the amount initialy recognised les cumulative
amortisation recognised in profit or los over the
terms of the guarante contracts.
(r) Equity instruments
Equity instruments isued by the Company are recorded at
the proceds received, net of direct isue costs.
Notes to the Consolidated Financial Statements
For the year ended 31 March 2025综合财务报表附注
截至二零二五年三月三十一日止年度
168Magnus Concordia Group Limited / 融太集团股份有限公司
4.
重大会计政策（续）
(s)
客户合约之收入
收入乃根据商业惯例按与客户订立
的合约中订明的代价计量，并不包
括代表第三方收取的金额。客户付
款及转移协定产品或服务的期间超
过一年的合约，代价会就重大融资
部分之影响进行调整。
本集团于完成向客户转让产品或服
务控制权的履约责任时确认收入。
履约责任可于一段时间内或某个时
间点完成，视乎合约条款及有关合
约适用的法例。倘属以下情况，则
可于一段时间内完成履约责任：
—
客户同时收取及消耗本集团履
约所提供的利益；
—
本集团履约而创造或提升客户
于资产被创造或提升时控制的
资产；或
—
本集团履约并无创造供本集团
用于其他用途的资产，且本集
团有权就迄今为止已完成的履
约部分强制付款。
倘履约责任可于一段时间内完成，
收入乃根据圆满完成有关履约责任
的进度确认。否则，收入于客户获
得产品或服务控制权的时间点确认。
4. MATERIAL ACOUNTING POLICIES
(Continued)
(s) Revenue from contracts with customers
Revenue is measured based on the consideration
specified in a contract with a customer with reference to
the customary busines practices and excludes amounts
colected on behalf of third parties. For a contract where
the period betwen the payment by the customer and
the transfer of the promised product or service exceds
one year, the consideration is adjusted for the efect of a
significant financing component.
The Group recognises revenue when it satisfies a
performance obligation by transfering control over a
product or service to a customer. Depending on the terms
of a contract and the laws that aply to that contract, a
performance obligation can be satisfied over time or at a
point in time. A performance obligation is satisfied over time
if:
— the customer simultaneously receives and consumes
the benefits provided by the Group’s performance;
— the Group’s performance creates or enhances an
aset that the customer controls as the aset is
created or enhanced; or
— the Group’s performance does not create an aset
with an alternative use to the Group and the Group
has an enforceable right to payment for performance
completed to date.
If a performance obligation is satisfied over time, revenue is
recognised by reference to the progres towards complete
satisfaction of that performance obligation. Otherwise,
revenue is recognised at a point in time when the customer
obtains control of the product or service.
Notes to the Consolidated Financial Statements
For the year ended 31 March 2025综合财务报表附注
截至二零二五年三月三十一日止年度
169ANUAL REPORT 2025 • 二零二五年报
4.
重大会计政策（续）
(t)
其他收入
利息收入采用实际利率法确认。
(u)
雇员福利
本集团根据强制性公积金计划条例，
设立一项定额供款的强积金计划（「强
积金计划」）。供款金额按雇员基本
薪金的一个百分比计算，并在其根
据强积金计划规则成为应付款项时
于收益表扣除。强积金计划的资产
由一个独立管理的基金持有，与本
集团的资产分开。本集团于强积金
计划所作的雇主供款全归雇员所有。
于中国大陆成立之附属公司工作之
雇员，乃中国大陆政府管理之中央
退休金计划之成员。该等附属公司
须拨出雇员指定薪酬之若干比率作
为对中央退休金计划之供款。该等
附属公司对中央退休金计划所承担
之唯一责任，乃作出按中央退休金
计划所需供款。
(v)
终止雇用福利
终止雇用福利于本集团不能取消提
供该等福利时及本集团确认涉及支
付终止雇用福利的重组成本当日（以
较早者为准）确认。
4. MATERIAL ACOUNTING POLICIES
(Continued)
(t) Other revenue
Interest income is recognised using the efective interest
method.
(u) Employe benefits
The Group operates a defined contribution Mandatory
Provident Fund retirement benefit scheme (the “MPF
Scheme”) under the Mandatory Provident Fund Schemes
Ordinance. Contributions are made based on a percentage
of the employes’ basic salaries and are charged to the
income statement 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.
The employes of the subsidiaries established in Mainland
China are members of the Central Pension Scheme
operated by the Mainland China government. The
subsidiaries are required to contribute a certain percentage
of their covered payrol to the Central Pension Scheme to
fund the benefits. The only obligation for the subsidiaries
with respect to the Central Pension Scheme is to met the
required contributions under the Central Pension Scheme.
(v) Termination benefits
Termination benefits are recognised at the earlier of when
the Group can no longer withdraw the ofer of those
benefits and when the Group recognises restructuring
costs involving the payment of termination benefits.
Notes to the Consolidated Financial Statements
For the year ended 31 March 2025综合财务报表附注
截至二零二五年三月三十一日止年度
170Magnus Concordia Group Limited / 融太集团股份有限公司
4.
重大会计政策（续）
(w)
借款成本
因收购、建设或生产合资格资产（需
要一段长时间方能达致其拟定用途
或出售者）而直接产生之借款成本乃
资本化为该等资产之成本一部分，
直至该等资产大致上可准备用作其
拟定用途或出售时为止。从特定借
款待支付合资格资产之费用前而作
出之短暂投资所赚取之投资收入乃
从合资格资本化之借款成本中扣除。
就于一般情况及用作取得合资格资
产而借入之资金而言，合资格资本
化之借款成本金额乃按用于该资产
之开支资本化比率计算。资本化比
率为适用于本集团该期间内尚未偿
还借款（不包括就取得合资格资产而
借入之特定借款）之加权平均借款成
本。
所有其他借款成本均在产生期间于
损益内确认。
(x)
政府补助
政府补助于本集团合理确认将遵守
政府补助随附之条件，且将收到补
助时，方会确认。
与收入相关的政府补助乃递延计算
并于期内在损益中确认，以配合拟
补偿的成本。
4. MATERIAL ACOUNTING POLICIES
(Continued)
(w) Borowing costs
Borowing costs directly atributable to the acquisition,
construction or production of qualifying asets, which are
asets that necesarily take a substantial period of time
to get ready for their intended use or sale, are capitalised
as part of the cost of those asets, until such time as the
asets are substantialy ready for their intended use or sale.
Investment income earned on the temporary investment of
specific borowings pending their expenditure on qualifying
asets is deducted from the borowing costs eligible for
capitalisation.
To the extent that funds are borowed generaly and used
for the purpose of obtaining a qualifying aset, the amount
of borowing costs eligible for capitalisation is determined
by aplying a capitalisation rate to the expenditures on
that aset. The capitalisation rate is the weighted average
of the borowing costs aplicable to the borowings of the
Group that are outstanding during the period, other than
borowings made specificaly for the purpose of obtaining a
qualifying aset.
Al other borowing costs are recognised in profit or los in
the period in which they are incured.
(x) Government grants
A government grant is recognised when there is reasonable
asurance that the Group wil comply with the conditions
ataching to it and that the grant wil be received.
Government grants relating to income are defered and
recognised in profit or los over the period to match them
with the costs they are intended to compensate.
Notes to the Consolidated Financial Statements
For the year ended 31 March 2025综合财务报表附注
截至二零二五年三月三十一日止年度
171ANUAL REPORT 2025 • 二零二五年报
4.
重大会计政策（续）
(y)
中国大陆土地增值税（「土地
增值税」）
中华人民共和国（「中国」）的土地增
值税乃按介乎
30%
至
60%
之累进税
率就土地升值部份征收，即销售物
业之所得款项减可扣税开支（包括土
地成本、借款成本、商业税及一切
物业开发开支）。土地增值税乃确认
为所得税开支。就中国企业所得税
而言，已付土地增值税为可扣税开支。
(z)
税项
所得税指即期税项及递延税项之总和。
即期应付税项乃根据年内应课税溢
利计算。应课税溢利与于损益内确
认之溢利不同，原因是应课税溢利
不包括其他年度之应课税或可予扣
税之收入或开支项目，亦不包括免
税或不可扣税之项目。本集团有关
即期税项之负债乃采用于报告期末
已实施或实质上已实施之税率计算。
递延税项乃按财务报表内资产及负
债之账面值与计算应课税溢利采用
之相应税基之差额确认。递延税项
负债一般按所有应课税暂时差额确
认入账，而递延税项资产则会在可
能有应课税溢利可供作抵销可予扣
减暂时差额、未动用税项亏损或未
动用税项抵免时确认入账。倘暂时
差额乃因商誉或首次确认一项既不
影响应课税溢利亦不影响会计溢利
之交易（业务合并除外）中之其他资
产及负债而产生，则不会确认有关
资产及负债。
4. MATERIAL ACOUNTING POLICIES
(Continued)
(y) Mainland China land apreciation tax
(“LAT”)
LAT in the People’s Republic of China (the “PRC”) is levied
at progresive rates ranging from 30% to 60% on the
apreciation of land value, being the proceds from sales
of properties les deductible expenditures including land
costs, borowing costs, busines taxes and al property
development expenditures. LAT is recognised as an
income tax expense. LAT paid is a deductible expense for
PRC enterprise income tax purposes.
(z) Taxation
Income tax represents the sum of the curent tax and
defered tax.
The tax curently payable is based on taxable profit for the
year. Taxable profit difers from profit recognised in profit
or los because it excludes items of income or expense
that are taxable or deductible in other years and it further
excludes items that are never taxable or deductible. The
Group’s liability for curent tax is calculated using tax rates
that have ben enacted or substantively enacted by the
end of the reporting period.
Defered tax is recognised on diferences betwen the
carying amounts of asets and liabilities in the financial
statements and the coresponding tax bases used in the
computation of taxable profit. Defered tax liabilities are
generaly recognised for al taxable temporary diferences
and defered tax asets are recognised to the extent that
it is probable that taxable profits wil be available against
which deductible temporary diferences, unused tax loses
or unused tax credits can be utilised. Such asets and
liabilities are not recognised if the temporary diference
arises from godwil or from the initial recognition (other
than in a busines combination) of other asets and
liabilities in a transaction that afects neither the taxable
profit nor the acounting profit.
Notes to the Consolidated Financial Statements
For the year ended 31 March 2025综合财务报表附注
截至二零二五年三月三十一日止年度
172Magnus Concordia Group Limited / 融太集团股份有限公司
4.
重大会计政策（续）
(z)
税项（续）
递延税项负债乃按于附属公司之投
资及于合营企业之权益而产生之应
课税暂时差额确认入账，惟倘本集
团可控制暂时差额之拨回，并预期
该暂时差额将不会在可见将来拨回
者除外。
递延税项资产之账面值乃于各报告
期末进行检讨，并于预期将不可能
有充裕之应课税溢利以抵销所有或
部分将予收回之资产时调减。
递延税项乃根据于报告期末已实施
或实质上已实施之税率，按预期在
负债偿还或资产变现期间适用之税
率计算。递延税项乃于损益中确认，
惟倘递延税项与于其他全面收益或
直接于权益确认之项目相关，则在
此情况下亦会在其他全面收益或直
接于权益内确认。
递延税项资产及负债计量反映本集
团于报告期末所预期对收回或清偿
其资产及负债之账面值方式所产生
之税务结果。
4. MATERIAL ACOUNTING POLICIES
(Continued)
(z) Taxation (Continued)
Defered tax liabilities are recognised for taxable temporary
diferences arising on investments in subsidiaries and
interests in joint ventures, except where the Group is able
to control the reversal of the temporary diference and it is
probable that the temporary diference wil not reverse in
the foreseable future.
The carying amount of defered tax asets is reviewed at
the end of each reporting period and reduced to the extent
that it is no longer probable that suficient taxable profits wil
be available to alow al or part of the aset to be recovered.
Defered tax is calculated at the tax rates that are expected
to aply in the period when the liability is setled or the
aset is realised, based on tax rates that have ben
enacted or substantively enacted by the end of the
reporting period. Defered tax is recognised in profit or
los, except when it relates to items recognised in other
comprehensive income or directly in equity, in which case
the defered tax is also recognised in other comprehensive
income or directly in equity.
The measurement of defered tax asets and liabilities
reflects the tax consequences that would folow from the
maner in which the Group expects, at the end of the
reporting period, to recover or setle the carying amount of
its asets and liabilities.
Notes to the Consolidated Financial Statements
For the year ended 31 March 2025综合财务报表附注
截至二零二五年三月三十一日止年度
173ANUAL REPORT 2025 • 二零二五年报
4.
重大会计政策（续）
(z)
税项（续）
就计量按公平值模式计量的投资物
业的递延税项而言，假定该等物业
的账面值可透过出售收回，除非假
定被驳回则作别论。倘该投资物业
可予折旧，而本集团的业务目标为
随时间而非透过出售消耗该投资物
业所包含的绝大部分经济利益的商
业模式持有，此假定则被驳回。倘
假定被驳回，该等投资物业的递延
税项按该等物业的预期收回方式计量。
当有合法执行权利许可将即期税项
资产与即期税项负债抵销，并涉及
与同一税务机关征收之所得税有关
且本集团拟按净额基准结算其即期
税项资产及负债时，则递延税项资
产及负债可互相对销。
(a)
分部报告
经营分部及各分部项目于财务报表
内呈报之金额，乃根据就资源分配
及评估本集团不同业务线之表现定
期提供予本集团最高行政管理人员
的财务资料识别。
就财务报告而言，除非分部具备类
似经济特征及在产品及服务性质、
生产过程性质、客户种类或类别、
用作分销产品或提供服务之方法以
及监管环境性质方面相类似，否则
各个重大经营分部不会进行合算。
就个别非重大经营分部而言，倘若
符合上述大部分标准，则可进行合算。
4. MATERIAL ACOUNTING POLICIES
(Continued)
(z) Taxation (Continued)
For the purposes of measuring defered tax for investment
properties that are measured using the fair value model,
the carying amounts of such properties are presumed
to be recovered through sale, unles the presumption is
rebuted. The presumption is rebuted when the investment
property is depreciable and is held within a busines model
of the Group whose busines objective is to consume
substantialy al of the economic benefits embodied in
the investment property over time, rather than through
sale. If the presumption is rebuted, defered tax for such
investment properties are measured based on the expected
maner as to how the properties wil be recovered.
Defered tax asets and liabilities are ofset when there is a
legaly enforceable right to set of curent tax asets against
curent tax liabilities and when they relate to income taxes
levied by the same taxation authority and the Group intends
to setle its curent tax asets and liabilities on a net basis.
(a) Segment reporting
Operating segments and the amounts of each segment
item reported in the financial statements are identified from
the financial information provided regularly to the Group’s
most senior executive management for the purpose of
alocating resources and asesing the performance of the
Group’s various lines of busines.
Individualy material operating segments are not agregated
for financial reporting purposes unles the segments
have similar economic characteristics and are similar in
respect of the nature of products and services, the nature
of productions proceses, the type or clas of customers,
the methods used to distribute the products or provide
the services, and the nature of the regulatory environment.
Operating segments which are not individualy material may
be agregated if they share a majority of these criteria.
Notes to the Consolidated Financial Statements
For the year ended 31 March 2025综合财务报表附注
截至二零二五年三月三十一日止年度
174Magnus Concordia Group Limited / 融太集团股份有限公司
4.
重大会计政策（续）
(b)
关连方
关连方乃与本集团有关连之人士或
实体：
(A)
倘属以下人士，即该人士或该
人士家庭近亲成员与本集团有
关连：
(i)
控制或共同控制本集团；
(i)
对本集团有重大影响；或
(i)
为本公司或本公司母公
司的主要管理层成员。
(B)
倘符合下列任何条件，即实体
与本集团有关连：
(i)
该实体与本公司属同一
集团之成员公司（即各母
公司、附属公司及同系
附属公司彼此间有关连）。
(i)
一间实体为另一实体的
联营公司或合营企业（或
另一实体为成员公司之
集团旗下成员公司之联
营公司或合营企业）。
(i)
两间实体均为同一第三
方的合营企业。
(iv)
一间实体为第三方实体
的合营企业，而另一实
体为该第三方实体的联
营公司。
4. MATERIAL ACOUNTING POLICIES
(Continued)
(b) Related parties
A related party is a person or entity that is related to the
Group.
(A) A person or a close member of that person’s family is
related to the Group if that person:
(i) has control or joint control over the Group;
(i) has significant influence over the Group; or
(i) is a member of the key management personel
of the Company or of a parent of the Company.
(B) An entity is related to the Group if any of the folowing
conditions aplies:
(i) The entity and the Company are members of
the same group (which means that each parent,
subsidiary and felow subsidiary is related to the
others).
(i) One entity is an asociate or joint venture of the
other entity (or an asociate or joint venture of a
member of a group of which the other entity is
a member).
(i) Both entities are joint ventures of the same third
party.
(iv) One entity is a joint venture of a third entity
and the other entity is an asociate of the third
entity.
Notes to the Consolidated Financial Statements
For the year ended 31 March 2025综合财务报表附注
截至二零二五年三月三十一日止年度
175ANUAL REPORT 2025 • 二零二五年报
4.
重大会计政策（续）
(b)
关连方（续）
(B)
倘符合下列任何条件，即实体
与本集团有关连：（续）
(v)
实体为本集团或与本集
团有关连之实体就雇员
利益设立的离职福利计
划。倘本集团本身便是
该计划，提供资助的雇
主亦与本集团有关连。
(vi)
实体受
(A)
所识别人士控
制或受共同控制。
(vi)
于
(A)(i)
所识别人士对实
体有重大影响力或属该
实体（或该实体的母公司）
主要管理层成员。
(vi)
实体或其所属集团的任
何成员公司向本公司或
本公司之母公司提供主
要管理人员服务。
4. MATERIAL ACOUNTING POLICIES
(Continued)
(b) Related parties (Continued)
(B) An entity is related to the Group if any of the folowing
conditions aplies: (Continued)
(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. If the Group is
itself such a plan, the sponsoring employers are
also related to the Group.
(vi) The entity is controled or jointly controled by a
person identified in (A).
(vi) A person identified in (A)(i) has significant
influence over the entity or is a member of the
key management personel of the entity (or of a
parent of the entity).
(vi) The entity, or any member of a group of which
it is a part, provides key management personel
services to the Company or to a parent of the
Company.
Notes to the Consolidated Financial Statements
For the year ended 31 March 2025综合财务报表附注
截至二零二五年三月三十一日止年度
176Magnus Concordia Group Limited / 融太集团股份有限公司
4.
重大会计政策（续）
(c)
资产减值
无固定使用年限的加密货币毋须
进行摊销，并每年进行减值测试，
或在有事件或情况变化显示其可能
出现减值时进行更频密的减值测
试。加密货币的减值测试分别针对
Polkadot
和
Filecoin
单独进行。出现
减值的加密货币会在每个报告期末
审阅减值拨回的可能性。因减值亏
损拨回而增加的加密货币账面值（在
损益中确认）将不会超过在过往会计
期间未确认加密货币减值亏损时的
账面值。
于各报告期末，本集团审阅其有形
及无形资产之账面值，以厘定有否
迹象显示该等资产出现减值亏损，
惟投资物业、存货及应收款项除外。
倘若出现任何该等迹象，则估计资
产之可收回金额，以厘定任何减值
亏损。倘若未能估计个别资产之可
收回金额，则本集团估计资产所属
现金产生单位之可收回金额。
可收回金额乃公平值减处置成本及
使用价值两者中较高者。在评估使
用价值时，估计日后现金流按反映
当时市场对货币时值之评估及资产
特定风险的税前折现率折算至其现值。
4. MATERIAL ACOUNTING POLICIES
(Continued)
(c) Impairment of asets
Cryptocurencies that has an indefinite useful life are
not subject to amortization and are tested anualy for
impairment, or more frequently if events or changes in
circumstances indicate that they might be impaired. The
impairment tests for cryptocurencies are caried out for
Polkadot and Filecoin, separately. Cryptocurencies that
sufered an impairment are reviewed for posible reversal
of the impairment at the end of each reporting period. The
increased carying amount of cryptocurencies atributable
to a reversal of an impairment los, which is recognized
in profit or los, wil not exced the carying amount that
would have ben determined had no impairment los ben
recognized for the cryptocurencies in prior acounting
periods.
At the end of each reporting period, the Group reviews
the carying amounts of its tangible and intangible asets
except investment properties, inventories and receivables to
determine whether there is any indication that those asets
have sufered an impairment los. If any such indication
exists, the recoverable amount of the aset is estimated
in order to determine the extent of any impairment los.
Where it is not posible to estimate the recoverable amount
of an individual aset, the Group estimates the recoverable
amount of the cash generating unit to which the aset
belongs.
Recoverable amount is the higher of fair value les costs
of disposal and value in use. In asesing value in use, the
estimated future cash flows are discounted to their present
value using a pre-tax discount rate that reflects curent
market asesments of the time value of money and the
risks specific to the aset.
Notes to the Consolidated Financial Statements
For the year ended 31 March 2025综合财务报表附注
截至二零二五年三月三十一日止年度
177ANUAL REPORT 2025 • 二零二五年报
4.
重大会计政策（续）
(c)
资产减值（续）
倘若估计资产或现金产生单位之可
收回金额低于其账面值，则资产或
现金产生单位之账面值减至其可收
回金额。减值亏损即时于损益内确
认，惟倘相关资产以重估价值列账，
在此情况下减值亏损视作重估价值
减少处理。
倘若减值亏损其后拨回，资产或现
金产生单位之账面值乃增加至其经
重新估计之可收回金额，惟已增加
账面值不得超过于过往年度并无确
认资产或现金产生单位减值亏损而
厘定之账面值（扣除摊销或折旧）。
减值亏损拨回即时于损益内确认，
惟倘相关资产以重估价值列账，在
此情况下减值亏损拨回视作重估价
值增加处理。
4. MATERIAL ACOUNTING POLICIES
(Continued)
(c) Impairment of asets (Continued)
If the recoverable amount of an aset or cash-generating
unit is estimated to be les than its carying amount, the
carying amount of the aset or cash-generating unit is
reduced to its recoverable amount. An impairment los is
recognised imediately in profit or los, unles the relevant
aset is caried at a revalued amount, in which case the
impairment los is treated as a revaluation decrease.
Where an impairment los subsequently reverses, the
carying amount of the aset or cash-generating unit is
increased to the revised estimate of its recoverable amount,
but so that the increased carying amount does not exced
the carying amount that would have ben determined (net
of amortisation or depreciation) had no impairment los
ben recognised for the aset or cash-generating unit in
prior years. A reversal of an impairment los is recognised
imediately in profit or los, unles the relevant aset is
caried at a revalued amount, in which case the reversal of
the impairment los is treated as a revaluation increase.
Notes to the Consolidated Financial Statements
For the year ended 31 March 2025综合财务报表附注
截至二零二五年三月三十一日止年度
178Magnus Concordia Group Limited / 融太集团股份有限公司
4.
重大会计政策（续）
(d)
拨备及或然负债
当本集团因已发生的事件须承担现
有法定或推定责任，而履行责任有
可能导致经济利益流出，并可准确
估计责任金额的情况下，须对该等
时间或金额不确定之负债确认拨备。
倘时间价值重大，则拨备之金额乃
按预期用于解除该责任之支出之现
值列账。
倘需要流出经济利益的机会不大，
或责任金额无法可靠估计，则责任
乃披露为或然负债，除非经济利益
流出之可能性极低则另作别论。可
能出现之责任，即是否存在将取决
于日后是否会发生一宗或多宗事件，
除非经济利益流出之可能性极低，
否则这些负债亦披露为或然负债。
(e)
报告期后事项
为本集团于报告期末状况提供额外
资料或显示持续经营假设并不适合
之报告期后事项均属于调整事项，
于综合财务报表内反映。并非属调
整事项之报告期后事项如属重大，
则于综合财务报表附注中披露。
4. MATERIAL ACOUNTING POLICIES
(Continued)
(d) Provisions and contingent liabilities
Provisions are recognised for liabilities of uncertain timing or
amount when the Group has a present legal or constructive
obligation arising as a result of a past event, it is probable
that an outflow of economic benefits wil be required to
setle the obligation and a reliable estimate can be made.
Where the time value of money is material, provisions are
stated at the present value of the expenditures expected to
setle the obligation.
Where it is not probable that an outflow of economic
benefits wil be required, or the amount canot be
estimated reliably, the obligation is disclosed as a
contingent liability, unles the probability of outflow is
remote. Posible obligations, whose existence wil only be
confirmed by the ocurence or non-ocurence of one
or more future events are also disclosed as contingent
liabilities unles the probability of outflow is remote.
(e) Events after the reporting period
Events after the reporting period that provide aditional
information about the Group’s position at the end of the
reporting period or those that indicate the going concern
asumption is not apropriate are adjusting events and are
reflected in the consolidated financial statements. Events
after the reporting period that are not adjusting events
are disclosed in the notes to the consolidated financial
statements when material.
Notes to the Consolidated Financial Statements
For the year ended 31 March 2025综合财务报表附注
截至二零二五年三月三十一日止年度
179ANUAL REPORT 2025 • 二零二五年报
5.
重要判断及主要估计
应用会计政策的重要判断
在应用会计政策的过程中，董事作出了以
下判断，这些判断对综合财务报表中确认
的金额产生了最重大影响（除了涉及估计
的部分，这些部分将在下文处理）。
持续经营基准
此等综合财务报表乃按持续经营基准编
制，其有效性取决于成功实施附注
所述
之措施，以改善本集团之财务状况、可即
时动用之流动资金及现金流。本公司董事
相信，本集团将拥有足够资金应付其于报
告日期结束后至少未来十二个月的现时营
运资金需求。详情载于综合财务报表附注
。
投资物业的递延税项
就计量按公平值模式计量的某些投资物业
之递延税项而言，本公司董事已检讨本集
团的投资物业组合，并得出结论，本集团
的某些投资物业乃根据目标为随时间而非
透过出售消耗该等投资物业所包含的绝大
部分经济利益的商业模式持有。因此，在
厘定本集团某些投资物业的递延税项时，
董事推翻了有关按公平值模式计量的某些
投资物业可透过出售收回的假设。
5. CRITICAL JUDGEMENTS AND KEY
ESTIMATES
Critical judgements in aplying acounting
policies
In the proces of aplying the acounting policies, the directors
have made the folowing judgements that have the most
significant efect on the amounts recognised in the consolidated
financial statements (apart from those involving estimations,
which are dealt with below).
Going concern basis
These consolidated financial statements have ben prepared on
a going concern basis, the validity of which depends upon the
sucesful implementation of the measures described in note 2
to improve the Group’s financial position, imediate liquidity and
cash flows. The directors of the Company believe that the Group
wil have suficient funds to finance its curent working capital
requirements in the next twelve months from the end of the
reporting date. Details are explained in note 2 to the consolidated
financial statements.
Defered tax for investment properties
For the purposes of measuring defered tax for certain investment
properties that are measured using the fair value model, the
directors of the Company have reviewed the Group’s investment
property portfolios and concluded that the Group’s certain
investment properties are held under a busines model whose
objective is to consume substantialy al of the economic benefits
embodied in the investment properties over time, rather than
through sale. Therefore, in determining the Group’s defered tax
for certain investment properties, the directors have rebuted the
presumption that certain investment properties measured using
the fair value model are recovered through sale.
Notes to the Consolidated Financial Statements
For the year ended 31 March 2025综合财务报表附注
截至二零二五年三月三十一日止年度
180Magnus Concordia Group Limited / 融太集团股份有限公司
5.
重要判断及主要估计（续）
应用会计政策的重要判断（续）
加密货币之会计处理
香港财务报告会计准则并无特别处理加
密货币的会计处理。因此，在编制本年报
时，管理层需要根据本集团收购及持有加
密货币的事实及情况，运用判断厘定适当
的会计政策。
鉴于本集团购买及持有这些加密货币所确
定的商业目的，管理层认为本集团所购买
及持有的加密货币应按成本模式列账为无
限期无形资产。
如附注
所披露，在厘定用于减值测试
的公平值时，管理层需要运用判断来识别
相关可用的加密货币买卖市场，并考虑该
等市场的可及性及内部活动，以识别主要
加密货币市场，从而确定各自的公允市值。
估计不确定性的主要来源
关于未来的主要假设及于报告期末估计不
确定因素的其他主要来源（具有导致须于
下一财政年度对资产及负债账面值作出重
大调整的重大风险）讨论如下：
5. CRITICAL JUDGEMENTS AND KEY
ESTIMATES (Continued)
Critical judgements in aplying acounting
policies (Continued)
Acounting of cryptocurencies
HKFRS Acounting Standards do not specificaly adres
acounting for cryptocurencies. Acordingly, for the preparation
of the anual report, management neds to aply judgment in
determining apropriate acounting policies based on the facts
and circumstances of the Group’s acquisition and holding of
cryptocurencies.
Based on the busines objectives determined by the Group in
purchasing and holding these cryptocurencies, management
considered that cryptocurencies purchased and held by the
Group should be acounted for as indefinite-lived intangible
asets acounted for under the cost model.
As disclosed in note 22, in determining fair values used for
impairment tests, management neds to aply judgment
to identify the relevant available markets for trading of
cryptocurencies, and to consider acesibility to and
activity within those markets in order to identify the principal
cryptocurency markets to ascertain the respective fair market
values.
Key sources of 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 discused below.
Notes to the Consolidated Financial Statements
For the year ended 31 March 2025综合财务报表附注
截至二零二五年三月三十一日止年度
181ANUAL REPORT 2025 • 二零二五年报
5.
重要判断及主要估计（续）
估计不确定性的主要来源（续）
所得税
本集团须缴付多个司法权区的所得税。于
厘定所得税拨备时需要作出重大估计。在
日常业务过程中，有许多交易和计算所涉
及的最终税务厘定都是不确定的。倘该等
事项的最终税务结果与最初记账的金额不
同，则有关差异将会影响作出该等厘定的
期间之所得税及递延税项拨备。
本集团印刷业务的减值
管理层就属于本集团印刷业务的现金产生
单位的物业、厂房及设备及使用权资产进
行减值检讨，根据其公平值减出售成本及
使用价值（以较高者为准）厘定印刷业务
的现金产生单位的可收回金额。
使用价值乃使用根据管理层批准之涵盖五
年期（二零二四年：五年期）的详细财务预
算的现金流预测计算。现金产生单位五年
期后的现金流按增长率
2%
（二零二四年：
2%
）及加权平均资金成本
12%
（二零二四
年：
12%
）估算。
管理层根据估计收入及未扣除利息、税
项、折旧及摊销前估计盈利率、预期收入
及折算率等若干假设作出现金流量估算。
有关评估亦受业界表现及技术转变等因素
之变动所影响。上述假设以及物业、厂房
及设备以及使用权资产之出售价值和税前
折算率的厘定均涉及估计和判断。
5. CRITICAL JUDGEMENTS AND KEY
ESTIMATES (Continued)
Key sources of estimation uncertainty
(Continued)
Income taxes
The Group is subject to income taxes in several jurisdictions.
Significant estimates are required in determining the provision
for income taxes. There are many transactions and calculations
for which the ultimate tax determination is uncertain during the
ordinary course of busines. Where the final tax outcome of these
maters is diferent from the amounts that were initialy recorded,
such diferences wil impact the income tax and defered tax
provisions in the period in which such determination is made.
Impairment of the Group’s printing busines
Management has conducted an impairment review of the
property, plant and equipment and right-of-use asets belonging
to the CGU of the Group’s printing busines and determined the
recoverable amount of the printing busines CGU based on the
higher of its fair value les costs of disposal and value in use.
The value-in-use calculation uses cash flow projections based on
the detailed financial budgets aproved by management covering
a 5-year period (2024: 5-year period). The CGU’s cash flow
beyond the five-year period is extrapolated using a 2% growth
rate (2024: 2%) and the weighted average cost of capital of 12%
(2024: 12%).
Management estimates the cash flow projections based on
certain asumptions, such as estimated revenue and estimated
margin on earnings before interest, tax, depreciation and
amortisation, expected revenue and the discount rate. This
evaluation is also subject to changes in factors such as industry
performance and changes in technology. Estimates and
judgements are aplied in determining these asumptions, the
disposal values of the property, plant and equipment and right-
of-use asets and the pre-tax discount rate.
Notes to the Consolidated Financial Statements
For the year ended 31 March 2025综合财务报表附注
截至二零二五年三月三十一日止年度
182Magnus Concordia Group Limited / 融太集团股份有限公司
5.
重要判断及主要估计（续）
估计不确定性的主要来源（续）
本集团印刷业务的减值（续）
于二零二五年三月三十一日，印刷业务之
物业、厂房及设备以及使用权资产账面值
分别约为
9,479,000
港元及
2,344,000
港元
（二零二四年：分别为
11,163,000
港元及
2,461,000
港元），并无确认任何减值（二
零二四年：无）。
应收款项的减值
应收款项的亏损拨备乃基于违约风险及预
期亏损率的假设。本集团于各报告期末根
据应收账款账龄、过往还款记录、后续结
算情况、客户信用状况及与相关客户的持
续业务关系等资料，通过判断作出有关假
设及选择减值计算的输入数据。管理层亦
计及可能影响客户偿还未结算结余的能力
的前瞻性资料，以估计减值评估的预期信
贷亏损。
5. CRITICAL JUDGEMENTS AND KEY
ESTIMATES (Continued)
Key sources of estimation uncertainty
(Continued)
Impairment of the Group’s printing busines (Continued)
The carying amount of printing busines’s property, plant and
equipment and right-of-use asets at 31 March 2025 was
aproximately HK$9,479,000 and HK$2,344,000 respectively
(2024: HK$11,163,000 and HK$2,461,000 respectively) without
any impairment recognised (2024: nil).
Impairment of receivables
The los alowance for receivables is based on asumptions
about risk of default and expected los rates. The Group uses
judgement in making these asumptions and selecting the inputs
to the impairment calculation, based on information including
ageing of the acounts receivable, past repayment history
subsequent setlement status, credit profile of the customers and
on-going busines relationship with the relevant customers at
the end of each reporting period. Management also considered
forward-loking information that may impact the customers’
abilities to repay the outstanding balances in order to estimate
the expected credit loses for the impairment asesment.
Notes to the Consolidated Financial Statements
For the year ended 31 March 2025综合财务报表附注
截至二零二五年三月三十一日止年度
183ANUAL REPORT 2025 • 二零二五年报
5.
重要判断及主要估计（续）
估计不确定性的主要来源（续）
投资物业公平值的估算
公平值之最佳证据为同一地点及状况下且
受类似租约及其他合约规限之物业于活跃
巿场之现行价格。倘欠缺有关资料，本集
团会考虑不同来源之资料，包括：
(i)
参考
独立估值；
(i)
不同性质、状况及地点（或
受不同租约或其他合约规限）之物业于活
跃巿场之现行价格（已就反映该等差异作
出调整）；
(i)
类似物业于较不活跃巿场之
现行价格（已就反映自交易日期以来出现
之任何经济状况变动对该等价格作出调
整）；及
(iv)
根据任何现有租约及其他合约
之条款以及（如可行）外在证据（如同一地
点及状况下之类似物业当时之市场租值）
按可靠之未来现金流量以可反映当时市场
评估现金流量金额及时间不明朗因素之折
现率计算之折现金流量预测。进一步详
情（包括用于公平值计量之主要假设、敏
感度分析及投资物业之账面值）载于综合
财务报表附注
。
5. CRITICAL JUDGEMENTS AND KEY
ESTIMATES (Continued)
Key sources of estimation uncertainty
(Continued)
Estimates of fair value of investment properties
The best evidence of fair value is curent prices in an active
market for properties in the same location and condition and
subject to similar lease and other contracts. In the absence of
such information, the Group considers information from a variety
of sources, including (i) by reference to independent valuations;
(i) curent prices in an active market for properties of a diferent
nature, condition and location (or subject to diferent leases
or other contracts), adjusted to reflect those diferences; (i)
recent prices of similar properties in les active markets, with
adjustments to reflect any changes in economic conditions since
the dates of transactions that ocured at those prices; and (iv)
discounted cash flow projections, based on reliable future cash
flows, derived from the terms of any existing lease and other
contracts, and (where posible) from external evidence such as
curent market rates 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 cash flows. Further details, including the key asumptions
used for fair value measurement, a sensitivity analysis and the
carying amount of investment properties, are given in note 20 to
the consolidated financial statements.
Notes to the Consolidated Financial Statements
For the year ended 31 March 2025综合财务报表附注
截至二零二五年三月三十一日止年度
184Magnus Concordia Group Limited / 融太集团股份有限公司
5.
重要判断及主要估计（续）
估计不确定性的主要来源（续）
厘定已完工待售物业的可变现净值
本集团已完工待售物业以成本及可变现净
值（以较低者为准）入账。本集团根据以往
的经验及所涉物业的性质估计售价，以及
根据当前市况估计销售物业将产生的成本。
倘销售物业将产生的成本增加或销售净值
降低，则可变现净值会减少，而此可能导
致须就已完工待售物业作出拨备。作出相
关拨备时须运用判断及估计。倘预期有别
于原先估计，则会于变更估计期间相应调
整物业账面值及拨备。相关披露载于综合
财务报表附注
。
印刷业务存货的减值
本集团于每个报告日期审视每项产品之存
货清单及账龄分析，以评估印刷业务存货
之账面值，并就陈旧、滞销之存货及不再
适用于生产用途之项目作出减值。本集团
将参考该等已识别存货之最新市场价格及
现行市场情况作出减值拨备。相关披露载
于综合财务报表附注
及
。
5. CRITICAL JUDGEMENTS AND KEY
ESTIMATES (Continued)
Key sources of estimation uncertainty
(Continued)
Determination of net realisable value of completed
properties for sale
The Group’s completed properties for sale are stated at the
lower of cost and net realisable value. Based on the Group’s
historical experience and the nature of the subject properties, the
Group makes estimates of the seling prices, and the costs to be
incured in seling the properties based on the prevailing market
conditions.
If there is an increase in costs to be incured in seling the
properties or a decrease in net sales value, the net realisable
value wil decrease and this may result in a provision for
completed properties for sale. Such provision requires the use
of judgements and estimates. Where the expectation is diferent
from the original estimate, the carying value and provision for
properties in the period in which the estimate is changed wil be
adjusted acordingly. The related disclosures are included in note
25 to the consolidated financial statements.
Impairment of inventories of the printing busines
The Group aseses the carying values of inventories of the
printing busines by reviewing the inventory listing and ageing
analysis on a product-by-product basis at each reporting
date, and makes impairment for those obsolete, slow-moving
inventories and items that are no longer suitable for use in
production. Provision for impairment is made by reference to
the latest market value and curent market conditions for those
inventories identified. The related disclosures are included in
notes 12 and 24 to the consolidated financial statements.
Notes to the Consolidated Financial Statements
For the year ended 31 March 2025综合财务报表附注
截至二零二五年三月三十一日止年度
185ANUAL REPORT 2025 • 二零二五年报
5.
重要判断及主要估计（续）
估计不确定性的主要来源（续）
中国大陆土地增值税（「土地增值税」）
中国的土地增值税按土地增值（即销售物
业所得款项减可扣减支出（包括土地成本、
借贷成本及其他物业发展支出）以累进税
率介乎
30%
至
60%
征收。
本集团在中国大陆从事物业发展业务的
附属公司须缴纳土地增值税。然而，在中
国大陆不同城市，该等税项的实施各有差
异，且本集团尚未与不同税务机关落实其
土地增值税报税表。因此，在厘定土地增
值金额及其相关税项时须作出重大判断。
于日常业务过程中最终的税项厘定仍不确
定。本集团按照管理层的最佳估计确认该
等负债。倘该等事项的最终税项结果与最
初记账的金额不同，则有关差异将会影响
收益表，并就该厘定期间的土地增值税作
出拨备。
6.
财务风险管理
本集团业务承受多项不同之财务风险，包
括汇兑风险、价格风险、信贷风险、流动
资金风险及利率风险。本集团之整体风险
管理计划侧重于难以预测之金融市场，并
尽可能减低对本集团财务表现之潜在不利
影响。
汇兑风险
汇兑风险源自以非功能货币为单位之货币
资产及负债；因将财务报表数额换算为本
集团呈列货币而产生之差额不予考虑。
5. CRITICAL JUDGEMENTS AND KEY
ESTIMATES (Continued)
Key sources of estimation uncertainty
(Continued)
Mainland China land apreciation tax (“LAT”)
LAT in the PRC is levied at progresive rates ranging from 30%
to 60% on the apreciation of land value, being the proceds
from the sale of properties les deductible expenditures including
land costs, borowing costs and other property development
expenditures.
The subsidiaries of the Group engaging in the property
development busines in Mainland China are subject to LAT.
However, the implementation of these taxes varies amongst
various cities in Mainland China and the Group has not finalised
its LAT returns with various tax authorities. Acordingly,
significant judgement is required in determining the amount
of land apreciation and its related taxes. The ultimate tax
determination is uncertain during the ordinary course of busines.
The Group recognises these liabilities based on management’s
best estimates. Where the final tax outcome of these maters
is diferent from the amounts that were initialy recorded, such
diferences wil impact income statement and the provision for
LAT in the period in which such determination is made.
6. FINANCIAL RISK MANAGEMENT
The Group’s activities expose it to a variety of financial risks:
foreign curency risk, price risk, credit risk, liquidity risk and
interest rate risk. The Group’s overal risk management
programe focuses on the unpredictability of financial markets
and seks to minimise potential adverse efects on the Group’s
financial performance.
Foreign curency risk
Foreign exchange risk arises on monetary asets and liabilities
being denominated in a curency that is not the functional
curency, diferences resulting from the translation of financial
statements into the presentation curency of the Group are not
taken into consideration.
| 除税前亏损（ 2025 |
|---|
| HK$’000 |
| 千港元 175 |
| 176 |
| (2,047) |
Notes to the Consolidated Financial Statements
For the year ended 31 March 2025综合财务报表附注
截至二零二五年三月三十一日止年度
186Magnus Concordia Group Limited / 融太集团股份有限公司
6.
财务风险管理（续）
汇兑风险（续）
印刷产品之销售发票主要以美元（「美
元」）、欧元（「欧元」）及人民币为单位。本
集团以外币为单位之销售、应收账款、其
他应收账款及现金及银行结存令本集团须
承受汇兑风险。本集团向来关注汇率之波
动。本集团目前并无订立任何衍生工具合
约以尽量减低外币汇兑风险。然而，在有
需要时管理层将会考虑对冲重大之货币风
险。
下表详列本集团对港元兑欧元
10%
升跌
幅、港元兑美元汇率
1%
升跌幅和港元兑
人民币汇率
5%
升跌幅之敏感度。
10%
、
5%
或
1%
为向主要管理人员内部汇报汇
兑风险时采用之敏感度比率，代表管理层
对外币汇率之合理可能变动的评估。此项
敏感度分析只包括以外币为单位之未结付
货币项目，并对其于报告期末之换算作出
10%
、
5%
或
1%
之有关汇率变动调整。港
元兑有关外币之汇率升值或贬值
10%
、
5%
或
1%
将令除税前亏损减少或增加，而有
关影响列于下表。
6. FINANCIAL RISK MANAGEMENT
(Continued)
Foreign curency risk (Continued)
The sales of printing products are invoiced mainly in United
States dolars (“USD”), Euro (“EUR”) and RMB. The Group has
foreign curency sales, acounts receivable, other receivables
and cash and bank balances, which expose the Group to foreign
exchange risk. Exchange rate fluctuations have always ben
the concern of the Group. The Group curently does not enter
into any derivative contracts to minimise the foreign curency
risk exposure. However, management wil consider hedging
significant curency risk should the ned arise.
The folowing table details the Group’s sensitivity to a 10%
increase and decrease in the Hong Kong dolar against EUR,
and 1% increase and decrease in the Hong Kong dolar against
USD, and 5% increase and decrease in the Hong Kong dolar
against RMB. 10%, 5% or 1% are the sensitivity rates used when
reporting foreign curency risk internaly to key management
personel and represent management’s asesment of the
reasonably posible change in foreign exchange rates. The
sensitivity analysis includes only outstanding foreign curency
denominated monetary items and adjusts their translation at
the end of the reporting period for a 10%, 5% or 1% change in
relevant foreign curency rates. A 10%, 5% or 1% strengthening
or weakening of the Hong Kong dolar against the relevant foreign
curencies wil give rise to a decrease or increase in los before
tax and the impact is shown in the folowing table.
(Increase)/decrease
in los before tax
除税前亏损（增加）╱减少
HK$’000
千港元
USD
美元
EUR
欧元
RMB
人民币
(1,460)
Notes to the Consolidated Financial Statements
For the year ended 31 March 2025综合财务报表附注
截至二零二五年三月三十一日止年度
187ANUAL REPORT 2025 • 二零二五年报
6.
财务风险管理（续）
价格风险
本集团面对与本集团持有的加密货币有关
的价格风险，该等加密货币在综合财务状
况表中分类为无形资产。本集团并无面临
商品价格风险。
为管理由加密货币产生的价格风险，本集
团分散其投资组合。倘本集团持有的加密
货币的公平值增加╱减少
10%
，而所有其
他变数维持不变，则截至二零二五年三月
三十一日止年度的除所得税前减值亏损将
减少╱增加约
42,000
港元（二零二四年：
零港元）。
信贷风险
最大之信贷风险为综合财务状况表所列每
项金融资产扣除任何减值拨备后之账面值
和本集团担保的抵押贷款本金额。
本集团之信贷风险主要来自银行存款、客
户及其他债务人信贷风险敞口以及为本集
团物业的某些买家的抵押贷款提供财务担
保。本集团订有信贷政策，并持续监察此
等信贷风险。
6. FINANCIAL RISK MANAGEMENT
(Continued)
Price risk
The Group is exposed to price risk in respect of cryptocurencies
held by the Group, that are clasified in the consolidated
statement of financial position as intangible asets. The Group is
not exposed to comodity price risk.
To manage its price risk arising from cryptocurencies, the
Group diversifies its portfolio. In the case that the fair value of the
cryptocurencies held by the Group had increased/decreased
by 10% with al other variables held constant, impairment los
before income tax for the year ended 31 March 2025 would have
ben aproximately HK$42,000 lower/higher (2024: HK$nil).
Credit risk
The maximum exposure to credit risk is represented by the
carying amount of each financial aset after deducting any
impairment provision in the consolidated statement of financial
position and the principal amounts of the mortgage loans
guaranted by the Group.
Credit risk of the Group is primarily atributable to deposits
with banks, credit exposures to customers and other debtors
and financial guarantes in respect of mortgage loans of
certain purchasers of the Group’s properties. The Group has
credit policies in place and exposures to these credit risks are
monitored on an ongoing basis.
Notes to the Consolidated Financial Statements
For the year ended 31 March 2025综合财务报表附注
截至二零二五年三月三十一日止年度
188Magnus Concordia Group Limited / 融太集团股份有限公司
6.
财务风险管理（续）
信贷风险（续）
至于与客户有关之信贷风险，本集团管理
层已授权一个小组负责决定信贷额、核准
信贷及其他监察程序，确保采取跟进行动
以收回逾期债项。此外，本集团已就印刷
业务之若干海外销售额向出口信用保险局
购买信贷保险，以补偿未能收回债项之损
失。投资物业之租户会按租务协议预先支
付租金。
本集团订有政策确保要求租户于起租前支
付租赁按金。销售物业之所得款项乃预先
收取或于向客户交付已竣工物业时收取。
于二零二五年三月三十一日，本集团应收
账款总额
36%
（二零二四年：
61%
）来自印
刷业务五大客户。然而，本集团认为，有
关其客户的信贷风险并不重大，乃由于彼
等近年来并无出现违约记录。本集团于报
告期末审视个别贸易债项之可收回金额，
确保会就不可收回款项作出充分之减值亏
损拨备。就此而言，董事认为本集团之信
贷风险已大幅降低，而应收账款因涉及众
多广泛分布于不同地域之客户，亦无过度
集中之风险。
最高风险及年末阶段
下表列示基于本集团信贷政策（主要基于
逾期资料，除非有其他毋须付出过多成本
或努力即可取得的资料）的信贷质素及最
高信贷风险以及年末阶段分类。就上市债
务投资而言，本集团亦利用外部信贷评级
对其进行监察。所呈列的金额为金融资产
的账面总值及就财务担保合约承担的信贷
风险。
6. FINANCIAL RISK MANAGEMENT
(Continued)
Credit risk (Continued)
In respect of credit exposures to customers, management of the
Group has delegated a team responsible for determination of
credit limits, credit aprovals and other monitoring procedures to
ensure that folow-up action is taken to recover overdue debts.
In adition, for the printing busines, the Group has purchased
credit insurance from Export Credit Insurance Corporation on
certain overseas sales to compensate for loses from debts that
are not colectible. Rentals in respect of investment properties
are payable in advance by tenants in acordance with the lease
agrements.
The Group has policies in place to ensure that rental deposits
are required from tenants prior to comencement of leases.
Proceds from sales of properties are received in advanced or
upon delivery of the completed properties to customers. As at
31 March 2025, 36% (2024: 61%) of the Group’s total acounts
receivable were derived from the top five customers of printing
busines. However, the Group concluded that the credit risk
in relation to its customers is not significant because they have
no history of default in recent years. The Group reviews the
recoverable amount of each individual trade debt at the end of
the reporting period to ensure that adequate impairment loses
are made for irecoverable amounts. In this regard, the directors
considered that the Group’s credit risk is significantly reduced
and there is no significant concentration of risk on the acounts
receivable which consist of a large number of customers,
spreading acros diverse geographical areas.
Maximum exposure and year-end staging
The tables below shows 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. For listed debt investments, the Group also monitors
them by using external credit ratings. The amounts presented are
gros carying amounts for financial asets and the exposure to
credit risk for the financial guarante contracts.
| 千港元 | 千港元 | 千港元 | 千港元 |
|---|---|---|---|
| 71,014 | – | 71,014 | 4,190 |
| 39,980 | 39,980 | – | – |
| 3,559 | 3,559 | – | – |
| 20,299 | 20,299 | – | – |
| 134,852 | 63,838 | 71,014 | 4,190 |
| 600,527 | 600,527 | – | – |
Notes to the Consolidated Financial Statements
For the year ended 31 March 2025综合财务报表附注
截至二零二五年三月三十一日止年度
189ANUAL REPORT 2025 • 二零二五年报
6.
财务风险管理（续）
信贷风险（续）
最高风险及年末阶段（续）
*
当计入现金及现金等值物、其他应收账款及其
他资产的金融资产未逾期且并无资料显示该等
金融资产自初始确认以来信贷风险显著增加，
其信贷质素被视为「正常」。否则，金融资产之
信贷质素会被视为「存疑」。
6. FINANCIAL RISK MANAGEMENT
(Continued)
Credit risk (Continued)
Maximum exposure and year-end staging (Continued)
Gros carying
amounts
Amounts aplied for various ECL
impairment asesment aproachesECLs
账面总值
应用各种预期信贷亏损减值
评估方法的金额预期信贷亏损
General
aproach
Stage 1
Simplified
aproach
一般方法
第一阶段简化方法
HK$’000HK$’000HK$’000HK$’000
千港元千港元千港元千港元
At 31 March 2025
于二零二五年三月三十一日
Acounts receivable
应收账款
Financial asets included in
prepayments, other receivables and
other asets
计入预付款项、
其他应收账款及
其他资产之金融资产
— Normal*—
正常
*
Restricted bank balances
受限制银行结存
Cash and bank balances*
现金及银行结存
*
Other item:
其他项目：
Financial guarante contracts
财务担保合约
At 31 March 2024
于二零二四年三月三十一日
Acounts receivable
应收账款
38,881–38,8816,033
Financial asets included in
prepayments, other receivables and
other asets
计入预付款项、
其他应收账款及
其他资产之金融资产
— Normal*—
正常
*16,52116,521–
Restricted bank balances
受限制银行结存
88–
Cash and bank balances*
现金及银行结存
*35,30835,308–
90,71851,83738,8816,033
Other item:
其他项目：
Financial guarante contracts
财务担保合约
706,381706,381–
* The credit quality of the financial asets included in cash and cash
equivalents, other receivables and other asets 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”.
| Expected loss rate | Gross carrying amount | Loss allowance |
|---|---|---|
| 预期亏损率 | 账面总值 HK$’000 | 亏损拨备 HK$’000 |
| 千港元 | 千港元 | |
| 0.1% | 60,903 | 33 |
| 0.4% | 1,985 | 7 |
| 0.5% | 3,181 | 15 |
| 83.6% | 4,945 | 4,135 |
| 71,014 | 4,190 |
Notes to the Consolidated Financial Statements
For the year ended 31 March 2025综合财务报表附注
截至二零二五年三月三十一日止年度
190Magnus Concordia Group Limited / 融太集团股份有限公司
6.
财务风险管理（续）
信贷风险（续）
最高风险及年末阶段（续）
本集团以相等于全期预期信贷亏损的金额
计量应收账款的亏损拨备，并采用拨备矩
阵计算。根据本集团历史经验，不同客户
群的亏损模式没有显著差异，因此在根据
逾期计算亏损拨备时并未进一步区分不同
的客户群。
6. FINANCIAL RISK MANAGEMENT
(Continued)
Credit risk (Continued)
Maximum exposure and year-end staging (Continued)
The Group measures los alowance for acounts receivable at
an amount equal to lifetime ECLs, which is calculated using a
provision matrix. As the Group’s historical credit los experience
does not indicate significant diferent los paterns for diferent
customer segments, the los alowance based on past due
status is not further distinguished betwen the Group’s diferent
customer bases.
At 31 March 2025
于二零二五年
三月三十一日
Not yet past due
未逾期
Past due for les than 60 days
逾期少于
日
Past due for more than 60 days but
les than 180 days
逾期多于
日
但少于
日
Past due for more than 180 days
逾期多于
日
Expected
los rate
Gros
carying
amount
Los
alowance
预期亏损率账面总值亏损拨备
HK$’000HK$’000
千港元千港元
At 31 March 2024
于二零二四年
三月三十一日
Not yet past due
未逾期
0.8%26,360215
Past due for les than 60 days
逾期少于
日
3.1%3,914121
Past due for more than 60 days but
les than 180 days
逾期多于
日
但少于
日
5.6%2,413135
Past due for more than 180 days
逾期多于
日
89.8%6,1945,562
38,8816,033
Notes to the Consolidated Financial Statements
For the year ended 31 March 2025综合财务报表附注
截至二零二五年三月三十一日止年度
191ANUAL REPORT 2025 • 二零二五年报
6.
财务风险管理（续）
信贷风险（续）
最高风险及年末阶段（续）
由于本集团之交易对手为具有良好信贷纪
录之企业，故本集团并不知悉任何涉及其
他应收账款及按金之信贷风险。有关本集
团由应收账款所产生之信贷风险之进一步
量化数据披露于综合财务报表附注
。
流动资金风险
流动资金风险乃指本集团未能履行现有
到期之付款责任之风险。本集团在整体资
产、负债、贷款及承担之流动结构方面维
持审慎之比率，以计量及监控其流动资金
状况。本集团已订有政策，获取长期银行
信贷以配合其在香港及中国大陆之长期投
资。此外，本集团将流动资产维持于保守
水平，确保在日常业务中随时备有充裕之
现金流量以应付任何非预期之重大现金需
求。
下表按报告日期计至合约到期日之剩余偿
还期限组别分析本集团将按净额偿还之金
融负债。下表所列之款项为合约未贴现之
现金流量并已包括利息付款。
6. FINANCIAL RISK MANAGEMENT
(Continued)
Credit risk (Continued)
Maximum exposure and year-end staging (Continued)
The Group was not aware of any credit risk on other receivables
and deposits as their counterparties are corporations with proven
credit history. Further quantitative data in respect of the Group’s
exposure to credit risk arising from acounts receivable are
disclosed in note 26 to the consolidated financial statements.
Liquidity risk
Liquidity risk is the risk that the Group is unable to met its
curent obligations when they fal due. The Group measures
and monitors its liquidity through the maintenance of prudent
ratios regarding the liquidity structure of the overal asets,
liabilities, loans and comitments of the Group. The Group has
put in place a policy of obtaining long-term banking facilities to
match its long-term investments in Hong Kong and Mainland
China. The Group also maintains a conservative level of liquid
asets to ensure the availability of suficient cash flows to met
any unexpected and material cash requirements in the ordinary
course of busines.
The table below analyses the Group’s financial liabilities that wil
be setled on a net basis into relevant maturity groupings based
on the remaining period at the reporting date to the contractual
maturity date. The amounts disclosed in the table below are the
contractual undiscounted cash flows including interest payment.
| Within one year or on demand | In the second year | Within the third to fifth years | Over five years | Total |
|---|---|---|---|---|
| 一年内 | 第三至 | |||
| 或按要求 HK$’000 | 第二年内 HK$’000 | 第五年内 HK$’000 | 超过五年 HK$’000 | 总额 HK$’000 |
| 千港元 | 千港元 | 千港元 | 千港元 | 千港元 |
| 60,360 | – | – | – | 60,360 |
| 42,285 | – | – | – | 42,285 |
| 133,749 | 4,157 | – | – | 137,906 |
| 854 | 641 | – | – | 1,495 |
| 600,527 | – | – | – | 600,527 |
| 837,775 | 4,798 | – | – | 842,573 |
Notes to the Consolidated Financial Statements
For the year ended 31 March 2025综合财务报表附注
截至二零二五年三月三十一日止年度
192Magnus Concordia Group Limited / 融太集团股份有限公司
6.
财务风险管理（续）
流动资金风险（续）
*
计入计息银行借款之款项约
105,441,000
港元
（二零二四年：
129,432,000
港元）载有按要求
偿还条款，赋予贷款人无条件权利随时召回贷
款，因此，根据上述到期情况，该等金额分类
为「按要求偿还」。
6. FINANCIAL RISK MANAGEMENT
(Continued)
Liquidity risk (Continued)
二零二五年
Acounts payable
应付账款
Acrued charges and other payables
应计费用及其他应付账款
Bank and other borowings*
银行及其他借款
*
Lease liabilities
租赁负债
Financial guarante contracts
财务担保合约
Within
one year
or on
demand
In the
second year
Within
the third to
fifth years
Over
five yearsTotal
一年内
或按要求第二年内
第三至
第五年内超过五年总额
HK$’000HK$’000HK$’000HK$’000HK$’000
千港元千港元千港元千港元千港元
二零二四年
Acounts payable
应付账款
65,965–65,965
Acrued charges and other payables
应计费用及其他应付账款
50,348–50,348
Bank and other borowings*
银行及其他借款
*142,31122,9514,157–169,419
Lease liabilities
租赁负债
2,1232,6366,6521,46912,880
Financial guarante contracts
财务担保合约
706,381–706,381
967,12825,58710,8091,4691,004,993
* Included in interest-bearing bank borowings of aproximately
HK$105,441,000 (2024: HK$129,432,000) containing repayment on
demand clause giving the lender the unconditional right to cal the loan at
any time and therefore, for the purpose of the above maturity profile, these
amounts are clasified as “on demand”.
Notes to the Consolidated Financial Statements
For the year ended 31 March 2025综合财务报表附注
截至二零二五年三月三十一日止年度
193ANUAL REPORT 2025 • 二零二五年报
6.
财务风险管理（续）
流动资金风险（续）
尽管上述按要求还款条款，本公司董事认
为有关银行贷款不会于十二个月内遭全数
召回，且认为该等银行贷款将按相关协议
所载到期日偿还。此项评估乃经考虑：本
集团于批准综合财务报表日期的财务状况
及本集团此前已及时如期偿还所有款项而
作出。根据银行借款之条款，于二零二五
年三月三十一日包括利息付款之合约未
贴现金流量的到期限为约
33,196,000
港元（二零二四年：
48,072,000
港元）须于
个月内偿还，约
73,998,000
港元（二零
二四年：
20,986,000
港元）须于第二年内
偿还，及约
3,773,000
港元（二零二四年：
72,384,000
港元）须于第三至第五年内偿
还。
现金流量及公平值利率风险
利率风险乃指本集团状况可能会因市场利
率变动而受到不利影响之风险。本集团之
政策涉及紧密监察利率走势，把握有利之
定价时机转换及洽商新银行信贷。
本集团之利率风险主要源自计息之银行存
款及银行及其他借款。按浮动利率计息之
银行存款及银行借款令本集团承受现金流
量利率风险。本集团目前并无就利率风险
制定任何利率对冲政策。董事会持续监控
本集团之风险，在有需要时将会考虑对冲
利率风险。
于二零二五年三月三十一日，若利率上
升
1%
（二零二四年：
1%
），而所有其他变
数维持不变，则本集团之除税前亏损应
将增加约
1,188,000
港元（二零二四年：
1,404,000
港元）。
6. FINANCIAL RISK MANAGEMENT
(Continued)
Liquidity risk (Continued)
Notwithstanding the above repayment on demand clause, the
directors of the Company do not believe that the bank loans wil
be caled in their entirety within 12 months, and considered that
the bank loans wil be repaid in acordance with the maturity
dates as set out in the respective agrements. This evaluation
was made considering: the financial position of the Group at the
date of aproval of the financial statements and the fact that
the Group has made al previously scheduled repayments on
time. In acordance with the terms of the bank borowings, the
contractual undiscounted cash flows including interest payment
for maturity terms as at 31 March 2025 are aproximately
HK$33,196,000 (2024: HK$48,072,000) payable les than 12
months, aproximately HK$73,998,000 (2024: HK$20,986,000)
payable in the second year, and aproximately HK$3,773,000
(2024: HK$72,384,000) payable within third to fifth years.
Cash flow and fair value interest rate risk
Interest rate risk is the risk that the position of the Group may
be adversely afected by the changes in market interest rate.
The policy of the Group involves close monitoring of interest rate
movements and replacing and entering into new banking facilities
when favourable pricing oportunities arise.
The interest rate risk of the Group mainly arises from interest-
bearing bank deposits and bank and other borowings. Bank
deposits and bank borowings isued at variable rates expose
the Group to cash flow interest rate risk. The Group curently
does not have any interest rate hedging policy in relation to
interest rate risks. The directors monitor the Group’s exposure
on an ongoing basis and wil consider hedging interest rate risks
should the ned arise.
As at 31 March 2025, if interest rates had ben 1% (2024: 1%)
higher with al other variables held constant, the los before tax of
the Group would have increased by aproximately HK$1,188,000
(2024: HK$1,404,000).
| 2025 |
|---|
| HK$’000 |
| 千港元 |
| 66,824 |
| 39,980 |
| 3,559 |
| 20,299 |
| 130,662 |
| 2025 |
|---|
| HK$’000 |
| 千港元 |
| 60,360 |
| 42,285 |
| 131,654 |
| 1,419 |
| 235,718 |
Notes to the Consolidated Financial Statements
For the year ended 31 March 2025综合财务报表附注
截至二零二五年三月三十一日止年度
194Magnus Concordia Group Limited / 融太集团股份有限公司
6.
财务风险管理（续）
于三月三十一日的金融工具类别
公平值
本集团于综合财务状况表中反映的金融资
产及金融负债的账面值与其各自的公平值
相若。
6. FINANCIAL RISK MANAGEMENT
(Continued)
Categories of financial instruments at 31
March
HK$’000
千港元
Financial asets
金融资产
Financial asets at amortised cost
按摊销成本计量的金融资产
— Acounts receivable—
应收账款
32,848
— Financial asets included in prepayments,
other receivables and other asets
—
计入预付款项、其他应收
账款及其他资产之
金融资产
16,521
— Restricted bank balances—
受限制银行结存
— Cash and bank balances—
现金及银行结存
35,308
84,685
HK$’000
千港元
Financial liabilities
金融负债
Financial liabilities at amortised cost
按摊销成本计量的金融负债
— Acounts payable—
应付账款
65,965
— Financial liabilities included in acrued
charges and other payables
—
计入应计费用及其他应付
账款之金融负债
50,348
— Bank and other borowings—
银行及其他借款
155,811
— Lease liabilities—
租赁负债
11,005
283,129
Fair value
The carying amounts of the Group’s financial asets and
financial liabilities as reflected in the consolidated statement of
financial position aproximate their respective fair values.
Notes to the Consolidated Financial Statements
For the year ended 31 March 2025综合财务报表附注
截至二零二五年三月三十一日止年度
195ANUAL REPORT 2025 • 二零二五年报
7.
公平值计量
根据下列公平值计量等级按公平值列账之
金融工具的公平值计量披露如下：
—
于活跃市场有关同类资产或负债之
报价（未经调整）（第一等级）
—
基于对公平值计量而言属重大的可
观察（直接或间接）最低等级输入数
据的估值方法（第二等级）
—
基于对公平值计量而言属重大的不
可观察最低等级输入数据的估值方
法（第三等级）
有关按公平值计量之投资物业的披露，请
参阅附注
。
本集团于二零二五年及二零二四年三月
三十一日并无第一、第二及第三等级之金
融工具。于截至二零二五年及二零二四年
三月三十一日止年度并未就任何金融工具
作出第一等级与第二等级之间的转移，亦
无任何金融工具转入或转出第三等级。
银行借款非流动部分之公平值乃采用预期
未来付款按市场利率贴现估计。非流动部
分借款为浮息借款，故其账面值接近其公
平值。
一年内到期之金融资产及负债（包括应收
账款、计入按金及其他应收账款的金融资
产、受限制银行结存、现金及银行结存、
计入应付账款、应计费用及其他应付账款
的金融负债以及银行及其他借款流动部分）
的账面值扣除任何估计信贷调整后乃接近
其公平值。
7. FAIR VALUE MEASUREMENTS
The disclosure of fair value measurements of financial
instruments caried at fair value by level in the folowing fair value
measurement hierarchy:
— Quoted prices (unadjusted) in active markets for identical
asets or liabilities (Level 1)
— Valuation techniques for which the lowest level input that
is significant to the fair value measurement is observable,
either directly or indirectly (Level 2)
— Valuation techniques for which the lowest level input that
is significant to the fair value measurement is unobservable
(Level 3)
Se note 20 for disclosure of the investment properties that are
measured at fair value.
The Group had no Level 1, Level 2 and Level 3 financial
instruments as at 31 March 2025 and 2024. There was no
transfer of financial instruments betwen Level 1 and Level 2 or
transfer of financial instruments into or out of Level 3 for the years
ended 31 March 2025 and 2024.
The fair values of the non-curent portion of bank borowings
were estimated using the expected future payments discounted
at market interest rates. The carying amounts of the non-curent
portion of borowings aproximated their fair values since they
were floating interest rate borowings.
The carying amounts les any estimated credit adjustments for
financial asets and liabilities with a maturity of les than one
year, including acounts receivable, financial asets included
in deposits and other receivables, restricted bank balances,
cash and bank balances, financial liabilities included in acounts
payable, acrued charges and other payables and the curent
portion of bank and other borowings aproximate their fair
values.
Notes to the Consolidated Financial Statements
For the year ended 31 March 2025综合财务报表附注
截至二零二五年三月三十一日止年度
196Magnus Concordia Group Limited / 融太集团股份有限公司
8.
分部资料
按业务呈列之分部资料
本集团经营分部乃根据向本集团主要经营
决策者（「主要经营决策者」）（本公司执行
董事）之内部呈报厘定，目的为评估表现
及分配资源。内部呈报专注于策略经营及
各业务单位之发展，其中具有类似经济特
征的业务单位组成一个经营分部，由本集
团主要经营决策者评估表现。
本集团经营及可呈报分部如下：
印刷
—
印刷产品生产及销售
物业发展
—
房地产物业发展、出售及
买卖
物业投资
—
房地产物业投资及租赁
库务
—
债券、权益工具及其他工
具投资及买卖以及资产管
理
其他及
行政
—
其他非可呈报业务活动以
及经营分部及并无个别构
成可呈报分部的行政，连
同公司收入及开支项目
本集团主要营运决策者基于除利息开
支及税项前的盈利或亏损（「
EBIT
」）或
（「
LBIT
」），代表分部业绩，及除利息开
支、税项、折旧及摊销前的盈利或亏损
（「
EBITDA
」）或（「
LBITDA
」）之计量评估经
营分部表现。
8. SEGMENT INFORMATION
Segment information by busines lines
The operating segments of the Group are determined based
on internal reporting to the Group’s chief operating decision
maker (“CODM”) (the executive directors of the Company) for the
purposes of asesing performance and alocating resources.
The internal reporting focuses on the strategic operation and
development of each busines unit, of which busines units with
similar economic characteristics are organised into an operating
segment for the Group’s CODM to evaluate its performance.
The Group’s operating and reportable segments are as folows:
Printing—Manufacture and sale of printed
products
Property development—Development, sale and trading of real
estate properties
Property investment—Investment and leasing of real estate
properties
Treasury—Investment and trading of debts,
equity and other instruments and
aset management
Others and corporate—Other non-reportable busines
activities and operating segments and
corporate not constituting a reportable
segment individualy, together with
corporate income and expense items
The Group’s CODM aseses the performance of the operating
segments based on a measure of earnings or los before interest
expense and tax (“EBIT” or “LBIT”), representing segment results,
and earnings or los before interest expense, tax, depreciation
and amortisation (“EBITDA” or “LBITDA”).
| Property | Property | Others and | |||
|---|---|---|---|---|---|
| Printing | development | investment | Treasury | corporate | Total |
| 印刷 HK$’000 | 物业发展 HK$’000 | 物业投资 HK$’000 | 库务 HK$’000 | 其他及行政 HK$’000 | 总计 HK$’000 |
| 千港元 | 千港元 | 千港元 | 千港元 | 千港元 | 千港元 |
| 118,301 | 83,511 | 4,002 | – | – | 205,814 |
| 14,005 | (24,355) | (53,216) | (1,531) | (10,283) | (75,380) |
| (2,558) | – | – | – | (795) | (3,353) |
| 11,447 | (24,355) | (53,216) | (1,531) | (11,078) | (78,733) |
| (7,435) | |||||
| (86,168) | |||||
| 996 | |||||
| (85,172) | |||||
| 91,520 | 255,344 | 245,535 | 891 | 15,458 | 608,748 |
| 62,084 | 377,362 | 16,993 | 61 | 95,590 | 552,090 |
Notes to the Consolidated Financial Statements
For the year ended 31 March 2025综合财务报表附注
截至二零二五年三月三十一日止年度
197ANUAL REPORT 2025 • 二零二五年报
8.
分部资料（续）
按业务呈列之分部资料（续）
其他及行政分部资产主要包括以组为基准
管理的若干现金及银行结存、短期存款、
物业、厂房及设备以及使用权资产。
其他及行政分部负债主要包括以组为基准
管理的若干银行及其他借款以及租赁负债
和其他未分配负债。
按业务呈列之分部资料如下：
8. SEGMENT INFORMATION (Continued)
Segment information by busines lines
(Continued)
Others and corporate segment asets mainly include certain
cash and bank balances, short-term deposits, property, plant
and equipment and right-of-use asets that are managed on a
group basis.
Others and corporate segment liabilities mainly include certain
bank and other borowings and lease liabilities that are managed
on a group basis and other unalocated liabilities.
The segment information by busines lines is as folows:
For the year ended 31 March 2025
截至二零二五年
三月三十一日止年度
Segment revenue (note 9)
分部收入（附注
）
Sales to external customers
向外部客户销售
EBITDA/(LBITDA)EBITDA
╱
(LBITDA)
Depreciation
折旧
Segment results — EBIT/(LBIT)
分部业绩
— EBIT
╱
(LBIT)
Finance costs
融资费用
Los before tax
除税前亏损
Income tax credit
所得税抵免
Los for the year
本年度亏损
As at 31 March 2025
于二零二五年三月三十一日
Total asets
资产总额
Total liabilities
负债总额
| Printing | Property development | Property investment | Treasury | Others and corporate | Total |
|---|---|---|---|---|---|
| 印刷 HK$’000 | 物业发展 HK$’000 | 物业投资 HK$’000 | 库务 HK$’000 | 其他及行政 HK$’000 | 总计 HK$’000 |
| 千港元 | 千港元 | 千港元 | 千港元 | 千港元 | 千港元 |
| 758 | – | – | – | – | 758 |
| (2,441) | – | – | – | (59) | (2,500) |
| (117) | – | – | – | (736) | (853) |
| – | (15,373) | – | – | – | (15,373) |
| – | – | – | (351) | – | (351) |
| 17 | 13 | 57 | – | 288 | 375 |
| – | – | (48,059) | – | – | (48,059) |
| 143 | (27) | (8) | – | 469 | 577 |
| 2,771 | – | (929) | – | – | 1,842 |
| – | – | – | – | 11 | 11 |
| – | – | (7,089) | – | – | (7,089) |
| – | – | (4,917) | – | – | (4,917) |
Notes to the Consolidated Financial Statements
For the year ended 31 March 2025综合财务报表附注
截至二零二五年三月三十一日止年度
198Magnus Concordia Group Limited / 融太集团股份有限公司
8.
分部资料（续）
按业务呈列之分部资料（续）
按业务呈列之分部资料如下：（续）
其他分部资料：
8. SEGMENT INFORMATION (Continued)
Segment information by busines lines
(Continued)
The segment information by busines lines is as folows:
(Continued)
Other segment information:
二零二五年
Capital expenditures
资本支出
Depreciation of property,
plant and equipment
物业、厂房及设备折旧
Depreciation of right-of-use asets
使用权资产折旧
Impairment of stock of properties
物业存货减值
Impairment of intangible asets
无形资产减值
Bank interest income
银行利息收入
Fair value los on investment properties
投资物业之公平值亏损
Net exchange gain/(los)
汇兑收益╱（亏损）净额
Reversal of impairment/(impairment)
of acounts receivable
应收账款减值拨回╱（减值）
Gain on disposal of property,
plant and equipment
出售物业、厂房及设备之收益
Los on disposal of investment
properties
出售投资物业之亏损
Write down of other asets
其他资产之撇减
Notes to the Consolidated Financial Statements
For the year ended 31 March 2025综合财务报表附注
截至二零二五年三月三十一日止年度
199ANUAL REPORT 2025 • 二零二五年报
8.
分部资料（续）
按业务呈列之分部资料（续）
按业务呈列之分部资料如下：（续）
8. SEGMENT INFORMATION (Continued)
Segment information by busines lines
(Continued)
The segment information by busines lines is as folows:
(Continued)
PropertyPropertyOthers and
PrintingdevelopmentinvestmentTreasurycorporateTotal
印刷物业发展物业投资库务其他及行政总计
HK$’000HK$’000HK$’000HK$’000HK$’000HK$’000
千港元千港元千港元千港元千港元千港元
For the year ended 31 March 2024
截至二零二四年
三月三十一日止年度
Segment revenue (note 9)
分部收入（附注
）
Sales to external customers
向外部客户销售
130,915132,6657,432–271,012
EBITDA/(LBITDA)EBITDA
╱
(LBITDA)8,024(34,630)(74,108)(1,249)(12,430)(114,393)
Depreciation
折旧
(3,108)–(92)–(1,530)(4,730)
Segment results —EBIT/(LBIT)
分部业绩
— EBIT
╱
(LBIT)4,916(34,630)(74,200)(1,249)(13,960)(119,123)
Finance costs
融资费用
(10,151)
Los before tax
除税前亏损
(129,274)
Income tax credit
所得税抵免
11,857
Los for the year
本年度亏损
(117,417)
As at 31 March 2024
于二零二四年三月三十一日
Total asets
资产总额
76,533303,572347,78837326,762755,028
Total liabilities
负债总额
64,838397,42229,448246120,937612,891
Notes to the Consolidated Financial Statements
For the year ended 31 March 2025综合财务报表附注
截至二零二五年三月三十一日止年度
200Magnus Concordia Group Limited / 融太集团股份有限公司
8.
分部资料（续）
按业务呈列之分部资料（续）
按业务呈列之分部资料如下：（续）
其他分部资料：
8. SEGMENT INFORMATION (Continued)
Segment information by busines lines
(Continued)
The segment information by busines lines is as folows:
(Continued)
Other segment information:
Printing
Property
development
Property
investmentTreasury
Others and
corporateTotal
印刷物业发展物业投资库务其他及行政总计
HK$’000HK$’000HK$’000HK$’000HK$’000HK$’000
千港元千港元千港元千港元千港元千港元
二零二四年
Capital expenditures
资本支出
600–11,73712,337
Depreciation of property,
plant and equipment
物业、厂房及设备折旧
(2,991)–(92)–(34)(3,117)
Depreciation of right-of-use asets
使用权资产折旧
(117)–(1,496)(1,613)
Impairment of stock of properties
物业存货减值
–(4,548)–(4,548)
Bank interest income
银行利息收入
100713–406580
Fair value gain on investment properties
投资物业之公平值亏损
–(71,650)–(71,650)
Fair value los of financial asets at fair
value through profit or los
按公平值计入损益之金融资产
之公平值亏损
–(488)–(488)
Net exchange gain/(los)
汇兑收益╱（亏损）净额
1,006(215)(53)–3201,058
Impairment of acounts receivable
应收账款减值
(2,581)–(379)–(2,960)
Impairment of prepayments
预付款项减值
–(780)(780)
Gain on disposal of property,
plant and equipment
出售物业、厂房及设备之收益
–1,5301,530
Write down of other asets
其他资产之撇减
–(7,755)–(7,755)
| 收 2025 |
|---|
| HK$’000 |
| 千港元 92,103 |
| 5,286 |
| 61,643 |
| 30,772 |
| 1,084 |
| 14,926 |
| 205,814 |
| 非流动 2025 |
|---|
| HK$’000 |
| 千港元 65,310 |
| 179,607 |
| 244,917 |
Notes to the Consolidated Financial Statements
For the year ended 31 March 2025综合财务报表附注
截至二零二五年三月三十一日止年度
201ANUAL REPORT 2025 • 二零二五年报
8.
分部资料（续）
地域分部资料
本集团在不同地域经营业务。收入按客户
所在地区呈列。非流动资产（除无形资产，
其他资产及递延税项资产外）则按资产所
在地区呈列。按地域呈列之分部资料如下：
8. SEGMENT INFORMATION (Continued)
Geographical segment information
The busines of the Group operates in diferent geographical
areas. Revenue is presented by the regions where customers are
located. Non-curent asets excluding intangible asets, other
asets and defered tax asets are presented by the regions
where the asets are located. The segment information by
geographical area is as folows:
Revenue
收入
HK$’000
千港元
Mainland China
中国大陆
140,417
Hong Kong
香港
7,697
United States of America
美国
70,296
United Kingdom
英国
27,119
France
法国
11,239
Other regions
其他地区
14,244
271,012
Non-curent asets
非流动资产
HK$’000
千港元
Mainland China
中国大陆
119,305
Hong Kong
香港
226,322
345,627
| 2025 |
|---|
| HK$’000 |
| 千港元 |
| 25,132 |
| 27,884 |
| 32,027 |
| 2025 |
|---|
| HK$’000 |
| 千港元 |
| 118,301 |
| 83,511 |
| 201,812 |
| 4,002 |
| 205,814 |
Notes to the Consolidated Financial Statements
For the year ended 31 March 2025综合财务报表附注
截至二零二五年三月三十一日止年度
202Magnus Concordia Group Limited / 融太集团股份有限公司
8. SEGMENT INFORMATION (Continued)
Information about major customers
Revenue from a customer contributing over 10% of the total
revenue of the Group is as folows:
HK$’000
千港元
Printing
印刷
Customer A
客户
AN/A
不适用
*
Customer B
客户
BN/A
不适用
*
Property development
物业发展
Customer C
客户
CN/A
不适用
*
- % of the total revenue
of the Group.
9. REVENUE
An analysis of revenue is as folows:
HK$’000
千港元
Revenue from contracts with customers
客户合约之收入
Sale of printed products
�售�刷产品
130,915
Sale of properties
�售物�
132,665
263,580
Revenue from other sources
其�来源之收�
Rental income
租金收�
7,432
Total revenue
总收入
271,012
Revenue from the sale of gods is recognised at a point in time
when the gods are transfered and the control has ben pased
to customers, since only at that point in time the Group has an
enforceable right to payment for the gods delivered.
Revenue from the sale of properties is recognised at a point in
time when the completed properties are delivered to the buyers.
Included in the Group’s revenue from sale of properties are
revenue from sales of properties developed by the Group
amounting to HK$83,511,000 (2024: HK$84,992,000).
8.
分部资料（续）
主要客户之资料
来自占本集团总收入超过
10%
的客户之
收入如下：
*
相应收入占本集团总收入的比例不超过
10%
。
9.
收入
收入之分析如下：
销售货品收入于货品转让及控制权已转交
予客户时按时间点确认，其乃由于本集团
仅于当时拥有可强制执行权利就所交付的
货品获取付款。
物业销售收入于物业已完工并交付予买方
的时间点确认。
本集团的物业销售收入包括本集团开发的
物业销售收入
83,511,000
港元（二零二四
年：
84,992,000
港元）。
| Printing | Property development | Total |
|---|---|---|
| 印刷 HK$’000 | 物业发展 HK$’000 | 总计 HK$’000 |
| 千港元 | 千港元 | 千港元 |
| 118,301 | – | 118,301 |
| – | 83,511 | 83,511 |
| 118,301 | 83,511 | 201,812 |
| 7,283 | 83,511 | 90,794 |
| 2,593 | – | 2,593 |
| 61,643 | – | 61,643 |
| 30,772 | – | 30,772 |
| 1,084 | – | 1,084 |
| 14,926 | – | 14,926 |
| 118,301 | 83,511 | 201,812 |
| 118,301 | 83,511 | 201,812 |
Notes to the Consolidated Financial Statements
For the year ended 31 March 2025综合财务报表附注
截至二零二五年三月三十一日止年度
203ANUAL REPORT 2025 • 二零二五年报
9.
收入（续）
(a)
细分收入资料
截至二零二五年三月三十一日止年度
9. REVENUE (Continued)
(a) Disagregated revenue information
For the year ended 31 March 2025
Segments
分部
Types of gods
货品类型
Sale of printed products
销售印刷产品
Sale of properties
销售物业
Total revenue from contracts
with customers
客户合约之收入总额
Geographical markets*
地域市场
*
Mainland China
中国大陆
Hong Kong
香港
United States of America
美国
United Kingdom
英国
France
法国
Other countries
其他国家
Total revenue from contracts
with customers
客户合约之收入总额
Timing of revenue recognition
收入确认时间
Gods transfered at a point in time
于某一时间点转移货品
Notes to the Consolidated Financial Statements
For the year ended 31 March 2025综合财务报表附注
截至二零二五年三月三十一日止年度
204Magnus Concordia Group Limited / 融太集团股份有限公司
9.
收入（续）
(a)
细分收入资料（续）
截至二零二四年三月三十一日止年度
*
本集团于不同地区经营业务。收入按客
户所在地国家呈列。
9. REVENUE (Continued)
(a) Disagregated revenue information
(Continued)
For the year ended 31 March 2024
Printing
Property
developmentTotal
印刷物业发展总计
HK$’000HK$’000HK$’000
千港元千港元千港元
Segments
分部
Types of gods
货品类型
Sale of printed products
销售印刷产品
130,915–130,915
Sale of properties
销售物业
–132,665132,665
Total revenue from contracts
with customers
客户合约之收入总额
130,915132,665263,580
Geographical markets*
地域市场
*
Mainland China
中国大陆
4,804132,665137,469
Hong Kong
香港
3,213–3,213
United States of America
美国
70,296–70,296
United Kingdom
英国
27,119–27,119
France
法国
11,239–11,239
Other countries
其他国家
14,244–14,244
Total revenue from contracts
with customers
客户合约之收入总额
130,915132,665263,580
Timing of revenue recognition
收入确认时间
Gods transfered at a point in time
于某一时间点转移货品
130,915132,665263,580
* The busines of the Group is operated in diferent geographical
areas. Revenue is presented by the countries where the customers
are located.
Notes to the Consolidated Financial Statements
For the year ended 31 March 2025综合财务报表附注
截至二零二五年三月三十一日止年度
205ANUAL REPORT 2025 • 二零二五年报
9.
收入（续）
(b)
履约责任
有关本集团履约责任之资料概述如
下：
销售物业
履约责任于物业已完工并交付予买
方且本集团当前有权要求付款及可
以收取代价时获履行。一般需要预
先付款。
销售印刷产品
履约责任于印刷产品交付时获履行，
付款一般于交付起计
日至
日
内到期，惟新客户一般需要预先付
款。部分合约向客户提供批量回扣，
从而产生受限制之可变代价。回扣
于达到销售协议所载相关门槛时确
认。截至二零二五年三月三十一日
止年度已就销售印刷产品确认回
扣约
4,779,000
港元（二零二四年：
4,759,000
港元）。
9. REVENUE (Continued)
(b) Performance obligations
Information about the Group’s performance obligations is
sumarised below:
Sale of properties
The performance obligation is satisfied at a point in time
when the properties have ben completed and delivered to
the buyers and the Group has a present right to payment
and the colection of the consideration is probable.
Payment in advance is normaly required.
Sale of printed products
The performance obligation is satisfied upon delivery of the
printed products and payment is generaly due within 30 to
180 days from delivery, except for new customers, where
payment in advance is normaly required. Some contracts
provide customers with volume rebates which give rise to
variable consideration subject to constraint. The rebates
are recognised when the relevant thresholds set out in the
sales agrement are met. The rebates of aproximately
HK$4,779,000 in relation to sales of printed products
was recognised for the year ended 31 March 2025 (2024:
HK$4,759,000).
| 2025 |
|---|
| HK$’000 |
| 千港元 375 |
| 45 |
| 1,060 |
| 11 |
| (7,089) |
| (74) |
| (4,917) |
| – |
| (351) |
| (59) |
| 577 |
| (136) |
| (10,558) |
| 2025 |
|---|
| HK$’000 |
| 千港元 15,373 |
Notes to the Consolidated Financial Statements
For the year ended 31 March 2025综合财务报表附注
截至二零二五年三月三十一日止年度
206Magnus Concordia Group Limited / 融太集团股份有限公司
10.
其他收入、支出及亏损净额
其他收入、支出及亏损净额的分析如下：
*
指终止印刷业务员工之付款。
11.
物业存货减值
物业存货减值分析如下：
10. OTHER INCOME, EXPENSE AND NET
LOSES
An analysis of other income, expense and net loses is as
folows:
HK$’000
千港元
Bank interest income
银行利息收入
Sales of scrap materials
出售废料
Other service income
其他服务收入
Gain on disposal of property,
plant and equipment
出售物业、厂房及设备之收益
1,530
Los on disposal of investment properties
出售投资物业之亏损
–
Los on lease termination
租赁终止之亏损
–
Write-down of other asets (note 23)
其他资产之撇减（附注
）
(7,755)
Impairment of prepayments
预付款项减值
(780)
Impairment of intangible asets (note 22)
无形资产减值（附注
）
–
Termination benefits costs*
终止福利成本
*(292)
Net exchange gain
汇兑收益净额
1,058
Sundries
杂项
(2,292)
(7,277)
* It represents the payments for terminating the staf of printing busines.
11. IMPAIRMENT OF STOCK OF PROPERTIES
An analysis of impairment of stock of properties is as folows:
HK$’000
千港元
Impairment of completed properties for sale
已完工待售物业减值
4,548
| 2025 |
|---|
| HK$’000 |
| 千港元 |
| 21,826 |
| 1,821 |
| 61 |
| 23,708 |
| (921) |
| 22,787 |
| 1,350 |
| 1,506 |
| 88,618 |
| 78,454 |
| 598 |
| 853 |
| 2,500 |
| (1,082) |
| 1,418 |
| 424 |
| (1,842) |
| – |
| 4,917 |
| 125 |
| 33 |
| (56) |
Notes to the Consolidated Financial Statements
For the year ended 31 March 2025综合财务报表附注
截至二零二五年三月三十一日止年度
207ANUAL REPORT 2025 • 二零二五年报
12.
经营亏损
本集团经营亏损经扣除╱（计入）以下各项
后达致：
*
概无有关该等补助的未达成条件或有事项。
12. OPERATING LOS
The Group’s operating los is arived at after charging/(crediting):
HK$’000
千港元
Staf costs, including directors’ emoluments:
员工成本，包括董事酬金：
Wages, salaries and other benefits
工资、薪金及其他福利
26,150
Retirement benefit costs
退休福利成本
1,966
Termination benefit costs
终止福利成本
Total staf costs
员工成本总额
28,408
Les: Amount capitalised and included
in cost of inventories sold
减：已资本化及已计入
已售存货成本之金额
(1,480)
Staf costs included in seling and marketing
expenses and administrative and other
operating expenses
计入销售及营销开支以及行政
及其他经营开支之员工成本
26,928
Auditors’ remuneration
核数师酬金
1,500
Advertising and promotion expenses
广告及宣传开支
4,823
Cost of inventories sold (printing busines)
已售存货成本（印刷业务）
99,713
Carying amounts of properties sold
已售物业账面值
121,132
Outgoings in respect of investment properties
arising from rental-earning investment
properties
赚取租金之投资物业所产生之
投资物业支出
Depreciation of right-of-use asets
使用权资产之折旧
1,613
Depreciation of property, plant and equipment
物业、厂房及设备之折旧
3,117
Les: Amount capitalised and included in cost
ﾠ
of inventories sold for printing busines
减：已资本化及已计入
印刷业务已售存货成本
之金额
(1,329)
Depreciation of property, plant and equipment
included in seling and marketing expenses
and administrative and other operating
expenses
物业、厂房及设备之折旧
（计入销售及营销开支以及
行政及其他经营开支）
1,788
Impairment/(reversal of impairment)
of inventories
存货减值╱（减值拨回）
(350)
(Reversal of impairment)/impairment
of acounts receivable
应收账款（减值拨回）╱减值
2,960
Impairment of prepayments
预付款项减值
Write-down of other asets
其他资产之撇减
7,755
Expense relating to short-term leases
有关短期租赁之开支
Expense relating to leases of low-value asets
有关低价值资产租赁之开支
Government subsidies*
政府补助
*(88)
* There are no unfulfiled conditions or contingencies relating to the subsidies.
| 2025 |
|---|
| HK$’000 |
| 千港元 7,330 |
| 105 |
| 7,435 |
| 2025 |
|---|
| HK$’000 |
| 千港元 |
| 1,719 |
| (3) |
| 2,167 |
| (4,879) |
| (996) |
Notes to the Consolidated Financial Statements
For the year ended 31 March 2025综合财务报表附注
截至二零二五年三月三十一日止年度
208Magnus Concordia Group Limited / 融太集团股份有限公司
13. FINANCE COSTS
HK$’000
千港元
Interest on bank and other borowings
银行及其他借款之利息
10,022
Interest on lease liabilities
租赁负债之利息
Total finance costs
融资费用总额
10,151
14. INCOME TAX
Hong Kong Profits Tax is charged at a rate of 16.5% on the
asesable profit derived in Hong Kong. No Hong Kong profits
tax has ben provided as the Group has suficient tax loses to
ofset the estimated asesable profits for the years ended 31
March 2024 and 31 March 2025.
The PRC corporate income tax for the Group’s subsidiaries in the
PRC is charged at 25% (2024: 25%) of the asesable profits,
and taxable income derived from the PRC by subsidiaries located
outside the teritory is charged at the PRC witholding corporate
income tax rate of 10% (2024: 10%).
The LAT for the Group’s subsidiaries in the PRC is levied at
progresive rates ranging from 30% to 60% (2024: 30% to 60%)
on the apreciation of land value, being the proceds of sales
of properties les deductible expenditures including cost of land
and al property development expenditures.
HK$’000
千港元
Curent — Mainland China
即期
—
中国大陆
Corporate income tax
企业所得税
Charge for the year
年度支出
3,346
Overprovision in prior years
过往年度超额拨备
–
LAT
土地增值税
Charge for the year
年度支出
4,917
Defered tax (note 34)
递延税项（附注
）
(20,120)
Total tax credit for the year
年度税项抵免总额
(11,857)
13.
融资费用
14.
所得税
于香港产生的应课税溢利按
16.5%
的税率
缴纳香港利得税。由于本集团之税务亏损
足可抵销截至二零二五年及二零二四年三
月三十一日止年度之估计应课税溢利，故
并无就香港利得税计提拨备。
本集团中国附属公司之中国企业所得税乃
按应课税溢利之
25%
（二零二四年：
25%
）
计算，而就中国境外附属公司产生之应课
税收入乃按中国预扣企业所得税率
10%
（二零二四年：
10%
）课税。
本集团中国附属公司之土地增值税乃就土
地价值的增值（即出售物业的所得款项减
可扣除支出，包括土地成本及所有物业开
发支出）按介乎
30%
至
60%
（二零二四年：
30%
至
60%
）的累进税率征收。
| 2025 |
|---|
| HK$’000 |
| 千港元 (86,168) |
| (21,542) |
| 5,499 |
| 2,167 |
| (364) |
| (542) |
| 91 |
| 6,525 |
| (1,151) |
| (3) |
| 8,324 |
| (996) |
Notes to the Consolidated Financial Statements
For the year ended 31 March 2025综合财务报表附注
截至二零二五年三月三十一日止年度
209ANUAL REPORT 2025 • 二零二五年报
14.
所得税（续）
适用于按本公司及其大部分附属公司所在
司法权区之法定税率计算除税前亏损之税
项抵免与按实际税率计算之税项开支之对
账如下：
14. INCOME TAX (Continued)
A reconciliation of the tax credit aplicable to los before tax at
the statutory rates for the jurisdictions in which the Company and
the majority of its subsidiaries are domiciled to the tax expense at
the efective tax rate is as folows:
HK$’000
千港元
Los before tax
除税前亏损
(129,274)
Tax at the rate of 25% (2024: 25%)
按税率
25%
（二零二四年：
25%
）
计算之税项
(32,319)
Efect of diferent tax rates in diferent
jurisdictions
不同司法权区不同税率之影响
7,256
LAT for the year
本年度之土地增值税
4,917
Release of defered LAT liabilities
解除递延土地增值税负债
(126)
Tax efect of LAT deductible for corporate
income tax
可就企业所得税扣减土地增值税
之税务影响
(1,229)
Tax efect of defered LAT deductible
for corporate income tax
可就企业所得税扣减递延土地
增值税之税务影响
Expenses not deductible for tax
不可扣税之开支
5,767
Income not subject to tax
毋须课税之收入
(1,022)
Overprovision in prior years
过往年度超额拨备
–
Net efect of tax loses and other temporary
diferences not recognised and utilisation
of previously unrecognised tax loses
and other temporary diferences
未确认税务亏损及其他
短暂差异以及动用过往
未确认税务亏损及其他
短暂差异之净影响
4,867
Tax credit at the Group’s efective rate
按本集团实际税率计算之
税项抵免
(11,857)
| 2025 |
|---|
| HK$’000 |
| 千港元 1,312 |
| 2025 |
|---|
| HK$’000 |
| 千港元 120 |
| 120 |
| 36 |
| 84 |
| 360 |
Notes to the Consolidated Financial Statements
For the year ended 31 March 2025综合财务报表附注
截至二零二五年三月三十一日止年度
210Magnus Concordia Group Limited / 融太集团股份有限公司
15.
董事酬金及五名最高薪酬雇员
董事酬金
根据上市规则、香港公司条例第
383(1)(a)
、
(b)
、
(c)
及
(f)
条及公司（披露董事利益资料）
规例第
部披露的本年内董事酬金如下：
(a)
独立非执行董事
本年内已付予独立非执行董事之袍
金如下：
附注：
(i)
退任由二零二四年七月二十日起生效
(i)
委任由二零二四年七月二十日起生效
于本年内，概无应付独立非执行董
事之其他酬金（二零二四年：无）。
15. DIRECTORS’ REMUNERATION AND FIVE
HIGHEST PAID EMPLOYES
Directors’ remuneration
Directors’ remuneration for the year, disclosed pursuant to the
Listing Rules, section 383(1)(a), (b), (c) and (f) of the Hong Kong
Companies Ordinance and Part 2 of the Companies (Disclosure
of Information about Benefits of Directors) Regulation, is as
folows:
HK$’000
千港元
Fes
袍金
(a) Independent non-executive directors
The fes paid to independent non-executive directors
during the year were as folows:
HK$’000
千港元
Mr. Liu Ying Shun
廖英顺先生
Mr. Wang Zhengjun
王政君先生
Mr. Xu Jianfeng (note (i)
徐健锋先生（附注
(i)
）
120
Mr. Wang Ping (note (i)
王平先生（附注
(i)
）
–
Notes:
(i) Resigned with efect from 20 July 2024
(i) Apointed with efect from 20 July 2024
There were no other emoluments payable to the
independent non-executive directors during the year (2024:
nil).
| 千港元 | 千港元 | 千港元 | 千港元 |
|---|---|---|---|
| 100 | 86 | 4 | 190 |
| 140 | 20 | – | 160 |
| 200 | 347 | 15 | 562 |
| 40 | – | – | 40 |
| 480 | 453 | 19 | 952 |
Notes to the Consolidated Financial Statements
For the year ended 31 March 2025综合财务报表附注
截至二零二五年三月三十一日止年度
211ANUAL REPORT 2025 • 二零二五年报
15.
董事酬金及五名最高薪酬雇员
（续）
董事酬金（续）
(b)
执行董事
附注：
(i)
辞任由二零二四年九月一日起生效
(i)
委任由二零二四年九月一日起生效
(i)
辞任由二零二五年二月一日起生效
(iv)
委任由二零二五年二月一日起生效
(v)
辞任由二零二三年七月十五日起生效
于本年内，并无董事放弃或同意放
弃任何酬金之安排（二零二四年：无）。
15. DIRECTORS’ REMUNERATION AND FIVE
HIGHEST PAID EMPLOYES (Continued)
Directors’ remuneration (Continued)
(b) Executive directors
Fes
Salaries,
alowances
and benefits
in kind
Pension
scheme
contributionsTotal
袍金
薪金、津贴及
实物福利退休计划供款总额
HK$’000HK$’000HK$’000HK$’000
千港元千港元千港元千港元
二零二五年
Executive directors:
执行董事：
Mr. Liang Fan (note (i)
梁繁先生（附注
(i)
）
Ms. Zhou Lan (note (i)
周兰女士（附注
(i)
）
Ms. Mou Li (note (i)
牟莉女士（附注
(i)
）
Mr. Xiang Jun (note (iv)
向均先生（附注
(iv)
）
二零二四年
Executive directors:
执行董事：
Ms. Mou Li (note (i)
牟莉女士（附注
(i)
）
240–240
Mr. Liang Fan (note (i)
梁繁先生（附注
(i)
）
240–240
Mr. Huang Zhidan (note (v)
黄志丹先生（附注
(v)
）
–
480–480
Notes:
(i) Resigned with efect from 1 September 2024
(i) Apointed with efect from 1 September 2024
(i) Resigned with efect from 1 February 2025
(iv) Apointed with efect from 1 February 2025
(v) Resigned with efect from 15 July 2023
There was no arangement under which a director waived
or agred to waive any remuneration during the year (2024:
nil).
| 2025 |
|---|
| HK$’000 |
| 千港元 3,736 |
| 90 |
| 3,826 |
| 雇员 2025 |
|---|
| 5 |
Notes to the Consolidated Financial Statements
For the year ended 31 March 2025综合财务报表附注
截至二零二五年三月三十一日止年度
212Magnus Concordia Group Limited / 融太集团股份有限公司
15.
董事酬金及五名最高薪酬雇员
（续）
五名最高薪酬雇员
于本年内，本集团五名最高薪酬雇员中概
无董事（二零二四年：无）（如上文所载）。
既非本公司董事亦非最高行政人员之五名
最高薪酬雇员于年内之酬金详情如下：
酬金于下列范围中的非董事及非主要行政
人员之最高薪酬雇员人数如下：
16.
股息
董事会不建议派付截至二零二五年三月
三十一日止年度之末期股息（二零二四年：
零）。年内概无宣派中期股息（二零二四年：
零）。
17.
每股亏损
每股基本亏损乃根据本公司拥有人应占
本年度亏损约
85,172,000
港元（二零二四
年：
117,417,000
港元）及年内已发行普通
股之数目
5,779,196,660
股（二零二四年：
5,779,196,660
股）计算。
由于该两个年度内并无潜在之已发行股
份，故每股摊薄亏损乃相等于每股基本亏
损。
15. DIRECTORS’ REMUNERATION AND FIVE
HIGHEST PAID EMPLOYES (Continued)
Five highest paid employes
None of the five highest paid employes of the Group during the
year were directors (2024: nil) as set out in above. Details of the
remuneration for the year of the five highest paid employes who
are neither a director nor chief executive of the Company are as
folows:
HK$’000
千港元
Salaries
薪金
3,609
Pension scheme contributions
退休计划供款
3,699
The number of non-director and non-chief executive highest paid
employes whose remuneration fel within the folowing bands is
as folows:
Number of employes
雇员人数
Nil to HK$1,000,000
零至
1,000,000
港元
16. DIVIDENDS
The board of directors does not recomend the payment of a
final dividend for the year ended 31 March 2025 (2024: nil). No
interim dividend was declared during the year (2024: nil).
17. LOS PER SHARE
The calculation of the basic los per share is based on the los for
the year atributable to owners of the Company of aproximately
HK$85,172,000 (2024: HK$117,417,000) and the number of
ordinary shares of 5,779,196,660 (2024: 5,779,196,660) in isue
during the year.
The diluted los per share is equal to the basic los per share
since there were no potential shares in isue during both years.
Notes to the Consolidated Financial Statements
For the year ended 31 March 2025综合财务报表附注
截至二零二五年三月三十一日止年度
213ANUAL REPORT 2025 • 二零二五年报
18. PROPERTY, PLANT AND EQUIPMENT
Buildings
in the
PRC
Leasehold
improvements
Plant and
machinery
Furniture and
fixtures and
ofice
equipment
Motor
vehiclesTotal
中国楼宇
租赁物业
装修
厂房
及机器
家具及
装置以及
办公室设备汽车总计
HK$’000HK$’000HK$’000HK$’000HK$’000HK$’000
千港元千港元千港元千港元千港元千港元
Cost:
成本：
At 1 April 2023
于二零二三年四月一日
31,83463342,58912,6832,34590,084
Aditions
增加
39925418831–872
Disposals/writen of
出售╱撇销
(37)(635)(6,480)(1,132)(801)(9,085)
Transfer
转拨
–782782
Change in exchange rates
汇率变动
–(2)(14)(16)
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
32,19625236,29711,5802,31282,637
Aditions
增加
–629129–758
Disposals/writen of
出售╱撇销
(364)–(69)(118)(783)(1,334)
Change in exchange rates
汇率变动
–(1)(1)
At 31 March 2025
于二零二五年三月三十一日
31,83225236,85711,5911,52882,060
Acumulated depreciation:
累积折旧：
At 1 April 2023
于二零二三年四月一日
23,45062437,64412,3322,25276,302
Charge for the year
本年度支出
1,496211,328179933,117
Disposals/writen of
出售╱撇销
(37)(635)(6,391)(1,111)(801)(8,975)
Transfer
转拨
–782782
Change in exchange rates
汇率变动
–(2)(14)(16)
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
24,9091032,58111,3982,31271,210
Charge for the year
本年度支出
1,277511,08290–2,500
Disposals/writen of
出售╱撇销
(364)–(69)(118)(783)(1,334)
Change in exchange rates
汇率变动
–(1)(1)
At 31 March 2025
于二零二五年三月三十一日
25,8226133,59411,3701,52872,375
Net carying amount:
账面净值：
At 31 March 2025
于二零二五年三月三十一日
6,0101913,263221–9,685
At 31 March 2024
于二零二四年三月三十一日
7,2872423,716182–11,427
Buildings in the PRC under owned asets with net carying
amount of aproximately HK$6,010,000 (2024: HK$7,287,000)
have ben pledged as security for the bank facilities of the Group
(note 32).
18.
物业、厂房及设备
自有资产项下之中国楼宇账面净值为约
6,010,000
港元（二零二四年：
7,287,000
港元），已就本集团获取银行融资作为抵
押（附注
32)
。
Notes to the Consolidated Financial Statements
For the year ended 31 March 2025综合财务报表附注
截至二零二五年三月三十一日止年度
214Magnus Concordia Group Limited / 融太集团股份有限公司
19.
使用权资产
使用权资产项下之租用土地账面净值为约
2,344,000
港元（二零二四年：
2,461,000
港元），已就本集团获取银行融资作为抵
押（附注
）。
19. RIGHT-OF-USE ASETS
Leasehold
landBuildings
Motor
vehiclesTotal
租用土地楼宇汽车总计
HK$’000HK$’000HK$’000HK$’000
千港元千港元千港元千港元
Cost:
成本：
At 1 April 2023
于二零二三年四月一日
3,0516,26178210,094
Aditions
增加
–11,465–11,465
Disposals/writen of
出售╱撇销
–(6,261)–(6,261)
Transfer
转拨
–(782)(782)
Change in exchange rates
汇率变动
–(92)–(92)
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
3,05111,373–14,424
Disposals/writen of
出售╱撇销
–(9,176)–(9,176)
Change in exchange rates
汇率变动
–11–11
At 31 March 2025
于二零二五年三月三十一日
3,0512,208–5,259
Acumulated depreciation:
累积折旧：
At 1 April 2023
于二零二三年四月一日
4725,3376526,461
Charge for the year
本年度支出
1181,3651301,613
Disposals/writen of
出售╱撇销
–(6,261)–(6,261)
Transfer
转拨
–(782)(782)
Change in exchange rates
汇率变动
–(3)–(3)
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
590438–1,028
Charge for the year
本年度支出
117736–853
Disposals/writen of
出售╱撇销
–(255)–(255)
Change in exchange rates
汇率变动
–1–1
At 31 March 2025
于二零二五年三月三十一日
707920–1,627
Net carying amount:
账面净值：
At 31 March 2025
于二零二五年三月三十一日
2,3441,288–3,632
At 31 March 2024
于二零二四年三月三十一日
2,46110,935–13,396
Leasehold land under right-of-use asets with net carying
amounts of aproximately HK$2,344,000 (2024: HK$2,461,000)
have ben pledged as security for the bank facilities of the Group
(note 32).
| 2025 |
|---|
| HK$’000 |
| 千港元 320,804 |
| (48,059) |
| (40,722) |
| (423) |
| 231,600 |
Notes to the Consolidated Financial Statements
For the year ended 31 March 2025综合财务报表附注
截至二零二五年三月三十一日止年度
215ANUAL REPORT 2025 • 二零二五年报
20.
投资物业
投资物业根据经营租赁出租予第三方，进
一步概述详情载于综合财务报表附注
。
于二零二五年三月三十一日，本集团账面
值约为
178,100,000
港元（二零二四年：
224,000,00
港元）的投资物业已抵押作为
本集团获授银行融资的担保（附注
）。
公平值层级
本集团投资物业之公平值计量层级为第三
级。
本集团之政策为于导致转拨之事件或情况
改变发生当日确认拨入及拨出公平值等级。
于本年内，第一级与第二级之间并无任何
公平值计量转拨，第三级亦无任何转入或
转出（二零二四年：无）。
本集团之估值过程
本集团之投资物业已由持有相关认许专业
资格及对估值投资物业之所在地点及类
型具备近期评估经验之独立专业估值师
博浩企业顾问有限公司于二零二五年三
月三十一日进行重估。就所有投资物业而
言，其现有用途等同于最高及最佳用途。
20. INVESTMENT PROPERTIES
HK$’000
千港元
Carying amount at the begining of the year
于年初之账面值
398,771
Changes in fair value
公平值变动
(71,650)
Disposals
出售
–
Exchange realignment
汇兑调整
(6,317)
Carying amount at the end of the year
于年末之账面值
320,804
The investment properties are leased to third parties under
operating leases, further sumary details of which are included
in note 21 to the consolidated financial statements.
At 31 March 2025, the Group’s investment properties with
a carying value of aproximately HK$178,100,000 (2024:
HK$224,000,000) were pledged to secure bank facilities granted
to the Group (note 32).
Fair value hierarchy
The fair value measurement hierarchy of the Group’s investment
properties was Level 3.
The Group’s policy is to recognise transfers into and transfers out
of fair value hierarchy levels as of the date of the event or change
in circumstances that caused the transfer.
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).
Valuation proceses of the Group
The Group’s investment properties were revalued at 31 March
2025 by an independent profesional valuer, Graval Consulting
Limited, who holds recognised relevant profesional qualifications
and has recent experience in the locations and segments of the
investment properties valued. For al investment properties, their
curent use equates to the highest and best use.
Notes to the Consolidated Financial Statements
For the year ended 31 March 2025综合财务报表附注
截至二零二五年三月三十一日止年度
216Magnus Concordia Group Limited / 融太集团股份有限公司
20.
投资物业（续）
本集团之估值过程（续）
本集团之管理层为执行财务报告工作而审
视独立估值师作出之估值，并向本公司之
董事报告。管理层将至少每六个月一次与
估值师讨论估值过程及结果，与本集团之
中期及年度报告程序一致。管理层会：
—
核实独立估值报告之所有主要数据；
—
与过往期间之估值报告作出比较，
评估物业估值之变动；及
—
与独立估值师进行讨论。
估值方法
香港及中国大陆的落成商业或办公室物
业之公平值通常采用收入资本化法厘定。
收入资本化法乃采用合适的资本转化比率
将收入净额及租约期满后之潜在收入资本
化，而合适的资本转化比率乃以出售交易
之分析及估值师对投资者当时之要求或期
望的诠释为根据。估值所采用之当时市值
租金乃以标的物业及其他可资比较物业之
近期租赁为参考。
于本年内，本集团投资物业公平值计量所
用估值方法并无任何变动。
20. INVESTMENT PROPERTIES (Continued)
Valuation proceses of the Group (Continued)
The Group’s management reviews the valuations performed
by the independent valuer for financial reporting purposes
and reports to the directors of the Company. Discusions
of the valuation proceses and results are held betwen the
management and valuer at least once every six months, in line
with the Group’s interim and anual reporting proceses. The
management:
— verifies al major inputs to the independent valuation
reports;
— aseses property valuation movements when compared
to the prior period valuation reports; and
— holds discusions with the independent valuer.
Valuation techniques
The fair values of completed comercial or ofice properties in
Hong Kong and Mainland China are generaly derived using the
income capitalisation method. The income capitalisation method
is based on capitalisation of the net income and the reversionary
income potential by adopting apropriate capitalisation rates,
which are derived from analysis of sale transactions and valuers’
interpretation of prevailing investor requirements or expectations.
The prevailing market rents adopted in the valuation have
reference to valuers’ view of recent letings, within the subject
properties and other comparable properties.
There were no changes to the valuation techniques adopted in
the fair value measurement of the Group’s investment properties
during the year.
| 截至三月三十 2025 |
|---|
| HK$’000 |
| 千港元 178,100 |
| 53,500 |
| 2025 |
|---|
| 3.2% |
| HK$120 to HK$170 120 港元至 170 港元 |
| 6.0% |
Notes to the Consolidated Financial Statements
For the year ended 31 March 2025综合财务报表附注
截至二零二五年三月三十一日止年度
217ANUAL REPORT 2025 • 二零二五年报
20.
投资物业（续）
用以厘定公平值之重大不可观察
输入数据
20. INVESTMENT PROPERTIES (Continued)
Significant unobservable inputs used to
determine fair value
Valuation
techniques
Significant
unobservable
inputs
Fair value as at
31 March
Range or
weighted
average
范围或
加权平均
Sensitivity of fair value
to the inputs
估值方法
重大不可观察
输入数据截至三月三十一日的公平值公平值对输入数据的敏感度
HK$’000
千港元
Comercial properties
in Hong Kong
于香港的商业物业
Income
capitalisation
method
收入资本化法
Capitalisation rate
资本化率
224,0002.8%10 basis points (2024: 10 basis
points) increase in capitalisation
rate would result in decrease in
fair value by HK$5,200,000 (2024:
HK$7,560,000).
资本化率增加
个基点
（二零二四年：
个基点）
将导致公平值减少
5,200,000
港元（二零二四年：
7,560,000
港元）。
Unit market rent
per month per
square fot
每月单位市场租金
（每平方英呎）
HK$120 to
HK$190
港元至
港元
1% (2024: 1%) increase
in unit market rent would
result in increase in fair value
by HK$1,700,000 (2024:
HK$1,900,000).
单位市场租金增加
1%
（二零二四年：
1%
）
将导致公平值增加
1,700,000
港元（二零二四年：
1,900,000
港元）。
Comercial properties
in Mainland China
于中国大陆的商业物业
Income
capitalisation
method
收入资本化法
Capitalisation rate
资本化率
56,0565.5% to 6.0%
5.5%
至
6.0%
10 basis points (2024: 10 basis
points) increase in capitalisation
rate would result in decrease in
fair value by HK$800,000 (2024:
HK$970,000).
资本化率增加
个基点
（二零二四年：
个基点）
将导致公平值减少
800,000
港元（二零二四年：
970,000
港元）。
| 截至三月三十 2025 |
|---|
| HK$’000 |
| 千港元 |
| N/A 不适用 |
| 2025 |
|---|
| HK$60 60 港元 |
| N/A 不适用 |
| N/A 不适用 |
Notes to the Consolidated Financial Statements
For the year ended 31 March 2025综合财务报表附注
截至二零二五年三月三十一日止年度
218Magnus Concordia Group Limited / 融太集团股份有限公司
20.
投资物业（续）
用以厘定公平值之重大不可观察
输入数据（续）
Valuation
techniques
Significant
unobservable
inputs
Fair value as at
31 March
Range or
weighted
average
范围或
加权平均
Sensitivity of fair value
to the inputs
估值方法
重大不可观察
输入数据截至三月三十一日的公平值公平值对输入数据的敏感度
HK$’000
千港元
Unit market rent
per month per
square fot
每月单位市场租金
（每平方英呎）
HK$70
港元
1% (2024: 1%) increase
in unit market rent would
result in increase in fair value
by HK$500,000 (2024:
HK$539,000).
单位市场租金增加
1%
（二零二四年：
1%
）
将导致公平值增加
500,000
港元（二零二四年：
539,000
港元）。
Ofice properties in
Mainland China
于中国大陆的
办公室物业
Income
capitalisation
method
收入资本化法
Capitalisation rate
资本化率
40,7485.5% to 6.0%
5.5%
至
6.0%
2024: 10 basis points increase
in capitalisation rate would
result in decrease in fair value by
HK$790,000.
二零二四年：
资本化率增加
个基点
将导致公平值减少
790,000
港元。
Unit market rent
per month per
square fot
每月单位市场租金
（每平方英呎）
HK$190
港元
2024: 1% increase in unit market
rent would result in increase in fair
value by HK$362,000.
二零二四年：
单位市场租金增加
1%
将导致公平值增加
362,000
港元。
20. INVESTMENT PROPERTIES (Continued)
Significant unobservable inputs used to
determine fair value (Continued)
| 2025 |
|---|
| HK$’000 |
| 千港元 3,846 |
| 1,806 |
| 103 |
| 35 |
| 5,790 |
Notes to the Consolidated Financial Statements
For the year ended 31 March 2025综合财务报表附注
截至二零二五年三月三十一日止年度
219ANUAL REPORT 2025 • 二零二五年报
21.
租赁
本集团作为出租方
本集团根据经营租赁安排出租其于香港及
中国大陆的投资物业（见附注
），包括
商业物业。租赁条款一般要求租户支付保
证金并根据当时的现行市况定期调租。本
集团年内确认的租金收入约为
4,002,000
港元（二零二四年：
7,432,000
港元），有
关详情载于综合财务报表附注
。
本集团亦根据经营租赁安排出租其位于中
国大陆的物业、厂房及设备（附注
）。本
集团于年内确认的租金收入约为
1,060,000
港元（二零二四年：
582,000
港元），详情
载于综合财务报表附注
。
于二零二五年三月三十一日，本集团根据
与其租户订立的不可撤销经营租赁的到期
情况，于未来期间应收未贴现最低租赁付
款总额如下：
21. LEASES
The Group as a lesor
The Group leases its investment properties (note 20) consisting of
comercial properties in Hong Kong and Mainland China 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 aproximately HK$4,002,000 (2024: HK$7,432,000),
details of which are included in note 9 to the consolidated
financial statements.
The Group also leases its property, plant and equipment (note
18) in Mainland China under operating lease arangements.
Rental income recognised by the Group during the year was
aproximately HK$1,060,000 (2024: HK$582,000), details
of which are included in note 10 to the consolidated financial
statements.
At 31 March 2025, the Group had total undiscounted minimum
lease payments receivable by the Group in future periods under
non-cancelable operating leases with its tenants faling due as
folows:
HK$’000
千港元
Within one year
一年内
5,681
After one year but within two years
一年至两年
3,545
After two years but within thre years
两年至三年
1,833
After thre years but within four years
三年至四年
11,205
Notes to the Consolidated Financial Statements
For the year ended 31 March 2025综合财务报表附注
截至二零二五年三月三十一日止年度
220Magnus Concordia Group Limited / 融太集团股份有限公司
22.
无形资产
加密货币减值测试
本集团所购买及持有的加密货币已根据各
加密货币类别进行减值测试评估。本集团
透过比较加密货币的可收回金额与其账面
值进行减值测试。当可收回金额低于账面
值时，将确认减值亏损，而即使可收回金
额高于账面值，也不会确认收益。只有在
出售加密货币时，假设当时出售所得款项
高于其账面值，方才确认收益。
22. INTANGIBLE ASETS
Cryptocurencies
加密货币
HK$’000
千港元
Cost:
成本：
At 1 April 2023, 31 March 2024 and 1 April 2024
于二零二三年四月一日、
二零二四年三月三十一日及
二零二四年四月一日
–
Aditions
新增
Change in exchange rates
汇率变动
(5)
At 31 March 2025
于二零二五年三月三十一日
Acumulated amortisation and impairment
loses:
累计摊销及减值亏损：
At 1 April 2023, 31 March 2024 and 1 April 2024
于二零二三年四月一日、
二零二四年三月三十一日及
二零二四年四月一日
–
Impairment los
减值亏损
At 31 March 2025
于二零二五年三月三十一日
Net carying amount:
账面净值：
At 31 March 2025
于二零二五年三月三十一日
At 31 March 2024
于二零二四年三月三十一日
–
Impairment tests for cryptocurencies
Cryptocurencies purchased and held by the Group have ben
asesed based on each type of cryptocurencies for impairment
testing. The Group caries out their impairment testing by
comparing the recoverable amounts of cryptocurencies to their
carying amounts. An impairment los wil be recognized when
the recoverable amount is lower than the carying amount, while
a gain wil not be recognized even when the recoverable amount
is higher than the carying amount. A gain wil only be recognized
if the cryptocurency is disposed of, asuming the proceds from
disposal at that time is higher than its carying amount.
| 2025 |
|---|
| HK$’000 |
| 千港元 239 |
| 185 |
| 424 |
Notes to the Consolidated Financial Statements
For the year ended 31 March 2025综合财务报表附注
截至二零二五年三月三十一日止年度
221ANUAL REPORT 2025 • 二零二五年报
22.
无形资产（续）
加密货币减值测试（续）
本集团的加密货币成本列示如下：
各类加密货币的可收回金额根据公平值减
出售成本厘定。在厘定公平值时，本集团
会识别相关的可用市场，并考虑该等市场
的可及性及活跃程度，以识别本集团的主
要加密货币市场。在活跃市场（如买卖及
交易所平台）交易的
Polkadot
及
Filecoin
的
公平值根据报告期末的市场报价确定。若
市场报价可随时及定期从交易所取得，且
该等价格代表公平基准下实际及定期发生
的市场交易，则该市场被视为活跃市场。
因此，在减值测试中用于评估可收回金额
的公平值为根据
Polkadot
及
Filecoin
在活跃
市场中的报价（未经调整）（第一级）厘定。
于二零二五年三月三十一日，本集团分别
就
Polkadot
及
Filecoin
进行减值测试。根据
该等减值测试，
Polkadot
及
Filecoin
的可收
回金额低于其账面值，因此本集团于截至
二零二五年三月三十一日止年度在损益中
确认减值亏损合共约
351,000
港元（二零
二四年：零港元）。
22. INTANGIBLE ASETS (Continued)
Impairment tests for cryptocurencies
(Continued)
The cost of cryptocurencies of the Group are presented below:
PolkadotPolkadot
FilecoinFilecoin
The recoverable amount of each type of cryptocurencies
are determined based on fair value les costs of disposal. In
determining the fair values, the relevant available markets are
identified by the Group, and the Group consider acesibility
to, and activity within those markets in order to identify the
principal cryptocurency markets for the Group. The fair value of
Polkadot and Filecoin traded in active markets (such as trading
and exchange platforms) is determined based on quoted market
prices at the end of the reporting period. A market is regarded
as active if quoted prices are readily and regularly available from
an exchange and those prices represent actual and regularly
ocuring market transactions on an arm’s length basis.
Therefore, the fair value used for asesment of recoverable
amount in impairment tests is determined as quoted prices
(unadjusted) in active markets for Polkadot and Filecoin (Level 1).
As at 31 March 2025, the Group caried out impairment tests for
Polkadot and Filecoin, respectively. Based on these impairment
tests, the recoverable amounts of Polkadot and Filecoin was
lower than their carying amounts, therefore an impairment los
of aproximately HK$351,000 in total was recognized in profit
or los by the Group for the year ended 31 March 2025 (2024:
HK$nil).
| 2025 |
|---|
| HK$’000 |
| 千港元 11,456 |
| 34 |
| 11,490 |
| 2025 |
|---|
| HK$’000 |
| 千港元 5,529 |
| 2,607 |
| 767 |
| 8,903 |
Notes to the Consolidated Financial Statements
For the year ended 31 March 2025综合财务报表附注
截至二零二五年三月三十一日止年度
222Magnus Concordia Group Limited / 融太集团股份有限公司
23.
其他资产
附注：
(i)
结存指有关于过往年度收购附属公司而应收庄
士机构国际有限公司（「庄士机构」）之税项弥
偿。根据买卖协议，庄士机构（作为卖方）须就
后续出售本集团于收购附属公司事项而取得
之物业所产生之利得税负债向本集团以最高
37,658,000
港元之金额作出弥偿。
于本年内，就可收回税项弥偿确认撇减约
4,917,000
港元（二零二四年：
7,755,000
港元）
乃由于相应物业的公平值减少。
(i)
本集团于二零二一年七月二十一日收购
GF
Capital (Cayman) Limited
并确认非流动资产约
1,761,000
港元。于二零二年三月三十一日，
本集团进行减值评估，并于该年内确认撇减约
1,761,000
港元，此乃由于相关资产的可收回
金额减少所致。于二零二四年及二零二五年三
月三十一日，本集团进行了减值评估，减值拨
备未发生变动。
24.
存货
23. OTHER ASETS
HK$’000
千港元
Tax indemnity upon sales of properties
(note i)
销售物业后之税项弥偿
（附注
i
）
16,373
Others
其他
16,407
Notes:
(i) Balance represents the tax indemnity from Chuang’s Consortium
International Limited (“CIL”) in relation to the acquisition of subsidiaries in
prior years. Acording to the sale and purchase agrement, CIL, being
the seler, shal indemnify the Group for profits tax liabilities arising from
the subsequent sales of the properties acquired by the Group through the
acquisition of subsidiaries with the maximum amount of HK$37,658,000.
During the year, a write down of aproximately HK$4,917,000 (2024:
HK$7,755,000) was recognised for the tax indemnity recoverable because
of the decrease in the fair values of the respective properties.
(i) The Group acquired GF Capital (Cayman) Limited and recognised non-
curent asets of aproximately HK$1,761,000 on 21 July 2021. At 31
March 2022, the Group performed impairment asesment and a write
down of aproximately HK$1,761,000 was recognised for the year then
ended because of the decrease in the recoverable amounts of the respective
asets. At 31 March 2024 and 2025, the Group performed impairment
asesment and there was no movement for the impairment provision.
24. INVENTORIES
HK$’000
千港元
Raw materials
原料
4,488
Work in progres
在制品
3,810
Finished gods
制成品
1,899
10,197
| 2025 |
|---|
| HK$’000 |
| 千港元 71,014 |
| (4,190) |
| 66,824 |
| 2025 |
|---|
| HK$’000 |
| 千港元 37,564 |
| 6,067 |
| 7,410 |
| 15,783 |
| 66,824 |
Notes to the Consolidated Financial Statements
For the year ended 31 March 2025综合财务报表附注
截至二零二五年三月三十一日止年度
223ANUAL REPORT 2025 • 二零二五年报
25.
已完工待售物业
于二零二四年及二零二五年三月三十一
日，结存指位于中国四川省之已完工待
售住宅物业及停车场。由于房地产市场低
迷，根据成本与可变现净值之较低者（附
注
），于年内已确认位于四川省的已完
工待售物业减值约
15,373,000
港元（二零
二四年：
4,548,000
港元）（附注
）。
帐面净值约为
18,626,000
港元（二零二四
年：零港元）之待售停车场已抵押作为约
22,213,000
港元（二零二四年：零港元）之
其他借款的担保（附注
）。
26.
应收账款
本集团给予其印刷业务贸易客户
日至
日之信贷期。租金收入乃预先收取。
销售物业所得款项乃预先收取或于交付已
完工物业至客户时收取。对于具有长期业
务关系的客户，可授予更长的信贷期。应
收账款不计息。
于报告期末，应收账款（主要来自印刷业
务及物业出售）扣除亏损拨备后按发票日
期呈列之账龄分析如下：
25. COMPLETED PROPERTIES FOR SALE
As at 31 March 2024 and 2025, the balance represents
completed residential properties and car parks held for sale
situated in Sichuan Province, the PRC. During the year, due
to the downturn in the property market, an impairment of
the completed properties for sale in Sichuan Province of
aproximately HK$15,373,000 (2024: HK$4,548,000) was
recognised (note 11) based on the lower of cost and net
realisable value (note 5).
Car parks held for sale with net carying amount of aproximately
HK$18,626,000 (2024: HK$nil) have ben pledged as security
for other borowings of aproximately HK$22,213,000 (2024:
HK$nil) (note 32).
26. ACOUNTS RECEIVABLE
HK$’000
千港元
Acounts receivable
应收账款
38,881
Les: Impairment
减：减值
(6,033)
32,848
The Group alows a credit period ranging from 30 days to 180
days to its trade customers of the printing busines. Rental
income is received in advance. Proceds from the sale of
properties are received in advance or upon delivery of the
completed properties to customers. For customers with long-
term busines relationship, a longer credit period may be
granted. Acounts receivable are non-interest-bearing.
An ageing analysis of the acounts receivable (mainly arising from
printing busines and sales of properties) based on the invoice
date and net of los alowance at the end of the reporting period
is as folows:
HK$’000
千港元
Within 30 days30
天内
11,569
31 to 60 days31
至
天
5,762
61 to 90 days61
至
天
6,668
Over 90 days
超过
天
8,849
32,848
| 2025 |
|---|
| HK$’000 |
| 千港元 6,033 |
| (1,842) |
| (1) |
| 4,190 |
Notes to the Consolidated Financial Statements
For the year ended 31 March 2025综合财务报表附注
截至二零二五年三月三十一日止年度
224Magnus Concordia Group Limited / 融太集团股份有限公司
26.
应收账款（续）
本集团采用香港财务报告准则第
号简化
方法计量预期信贷亏损，为所有应收账款
使用全期预期亏损拨备。应收账款减值乃
基于对应收账款账龄的信贷评估、过往还
款历史、后续结算状态、已收按金、客户
信贷状况及与相关客户的持续业务关系，
使用预期亏损率计算，并就影响客户结算
应收账款的能力的前瞻性资料作出调整。
亏损拨备之变动如下：
26. ACOUNTS RECEIVABLE (Continued)
The Group aplies the HKFRS 9 simplified aproach to
measuring ECLs which uses a lifetime expected los alowance
for al acounts receivable. Impairment of acounts receivable
is calculated using the expected los rates, which are based
on credit asesments on ageing of the acounts receivable,
past repayment history, subsequent setlement status, deposits
received, credit profile of the customers and on-going busines
relationship with the relevant customers and adjusted for forward-
loking information afecting the ability of the customers to setle
the acounts receivable.
The movements in los alowance is as folows:
HK$’000
千港元
At the begining of the year
于年初
3,074
(Reversal of impairment los)/impairment
los, net
（减值亏损拨回）╱减值亏损，
净额
2,960
Exchange realignment
汇兑调整
(1)
At the end of the year
于年终
6,033
| 2025 |
|---|
| HK$’000 |
| 千港元 7,238 |
| 927 |
| 5,271 |
| 32,864 |
| 23,488 |
| 69,788 |
Notes to the Consolidated Financial Statements
For the year ended 31 March 2025综合财务报表附注
截至二零二五年三月三十一日止年度
225ANUAL REPORT 2025 • 二零二五年报
27.
预付款项、其他应收账款及其
他资产
以下为预付款项、其他应收账款及其他资
产之分析：
附注：
(i)
结存主要指就物业发展项目建筑工程支付予承
包商之预付款项，向供应商支付之预付款项，
以及住房公积金按金、支付予政府机构之按金
及写字楼租赁按金。
(i)
取得合约成本指就出售物业支付的预付预售佣
金。本集团已将所支付的款项资本化，并将于
确认相关出售物业收入时在收益表中入账，届
时将计入销售及推广支出。截至二零二五年三
月三十一日止年度，销售佣金约
708,000
港元
（二零二四年：
1,928,000
港元）已于综合收益
表中入账。
(i)
截至二零二五年三月三十一日的结存主要包括
应收一间物业管理公司款项及应收其他服务收
入款项。而截至二零二四年三月三十一日的结
存主要包括应收其他服务收入款项、代住户付
款及预付员工款项。
其他应收账款之减值按
个月预期信贷
亏损或全期预期信贷亏损计量，视乎自初
步确认起是否出现重大信贷风险增加。
27. PREPAYMENTS, OTHER RECEIVABLES
AND OTHER ASETS
The folowing is an analysis of the prepayments, other receivables
and other asets:
NoteHK$’000
附注千港元
Deposits and prepayments
按金及预付款项
(i)15,823
Cost of obtaining contracts
取得合约成本
(i)1,600
Value aded taxes (“VAT”) recoverable
可退还增值税（「增值税」）
6,186
Other receivables
其他应收账款
(i)6,638
Prepaid VAT and levies
预付增值税及征费
18,412
48,659
Notes:
(i) Balance mainly represented the prepayments paid to contractors for
construction works of property development projects, prepayments paid to
supliers, deposits for housing provident fund, deposits paid to government
authorities and the ofice rental deposits.
(i) Cost of obtaining contracts represented the prepaid pre-sales comision
paid in conection with the sales of properties. The Group has capitalised
the amounts paid and wil charge them to the income statement when the
revenue from the related property sales is recognised and wil be included
in seling and marketing expenses at that time. During the year ended
31 March 2025, sales comision of aproximately HK$708,000 (2024:
HK$1,928,000) was charged to the consolidated income statement.
(i) Balance as at 31 March 2025 mainly included the receivable from a property
management company and receivables of other service income while
balance as at 31 March 2024 mainly included receivables of other service
income, payments on behalf of residents and advances to staf.
Impairment of other receivables is measured at either 12-month
expected credit loses or lifetime expected credit loses,
depending on whether there has ben a significant increase in
credit risk since the initial recognition.
| 2025 |
|---|
| HK$’000 |
| 千港元 3,559 |
| 2025 |
|---|
| HK$’000 |
| 千港元 |
| 7,489 |
| 12,810 |
| 20,299 |
Notes to the Consolidated Financial Statements
For the year ended 31 March 2025综合财务报表附注
截至二零二五年三月三十一日止年度
226Magnus Concordia Group Limited / 融太集团股份有限公司
28.
受限制银行结存以及现金及银
行结存
附注：
于二零二五年三月三十一日，本集团之受限制
银行结存包括预售若干发展中物业所得款项约
8,000
港元（二零二四年：
8,000
港元）。根据相
关中国法律规例，开发中若干预售物业的所得
款项须存入指定银行账户及受制于相关项目建
设的使用。有关限制将于取得相关机构颁布的
所有权证书后解除。
于二零二五年三月三十一日，约
3,559,000
港
元之银行结存因主要有关未付物业工程费用的
诉讼而被法院冻结。
28. RESTRICTED BANK BALANCES AND
CASH AND BANK BALANCES
HK$’000
千港元
Restricted bank balances (note)
受限制银行结存（附注）
HK$’000
千港元
Cash and bank balances:
现金及银行结存：
Cash at banks and in hand
银行存款及手头现金
19,566
Short-term deposits
短期存款
15,742
35,308
Note: As at 31 March 2025, the Group’s restricted bank balance comprised
aproximately HK$8,000 (2024: HK$8,000) of proceds from the pre-sale of
certain properties under development. In acordance with the relevant PRC
laws and regulations, proceds from the pre-sale of certain properties under
development are required to be deposited into designated bank acounts
and restricted to be used in the relevant project construction. Such
restriction wil be uplifted upon the atainment of the relevant ownership
certificates isued by the authorities.
As at 31 March 2025, bank balance of aproximately HK$3,559,000 was
frozen by the court due to the litigations that are mainly related to the unpaid
construction costs of properties.
| 2025 |
|---|
| HK$’000 |
| 千港元 15,410 |
| 6,293 |
| 5,274 |
| 33,383 |
| 60,360 |
Notes to the Consolidated Financial Statements
For the year ended 31 March 2025综合财务报表附注
截至二零二五年三月三十一日止年度
227ANUAL REPORT 2025 • 二零二五年报
28.
受限制银行结存以及现金及银
行结存（续）
存于银行的现金根据每日银行存款率的
浮动利率赚取利息。短期存款之实际年利
率介乎
1.1%
至
1.8%
（二零二四年：
1.55%
至
3.3%
），该等存款到期限介乎
日至
个月（二零二四年：
日至
个月）。银行
结存及存款存放于信誉良好且近期无违约
记录的银行。
大部份以人民币（「人民币」）计值的现金及
银行结存于中国大陆持有并受制于当地汇
兑管制条例。该等当地汇兑管制条例限制
资本汇出境外，惟透过一般股息分派者除
外。人民币不能自由兑换为其他货币，然
而，根据中国大陆之外汇管理规定以及结
汇、售汇及付汇管理规定，本集团获准透
过获授权进行外汇业务之银行将人民币兑
换为其他货币。
29.
应付账款
于报告期末，应付账款按供应商发票日期
呈列之账龄分析如下：
采购货品及建造物业相关应付账款的信贷
期介乎
至
日（二零二四年：
至
日），视乎本集团与供应商或承包商的关
系、彼等评定本集团的信誉及过往结算记
录而定。
28. RESTRICTED BANK BALANCES AND
CASH AND BANK BALANCES (Continued)
Cash at banks earns interest at floating rates based on daily bank
deposit rates. The efective interest rates on short-term deposits
range from 1.1% to 1.8% (2024: 1.55% to 3.3%) per anum and
these deposits have maturities range from 7 days to 1 month
(2024: 7 days to 1 month). The bank balances and deposits
are deposited with creditworthy banks with no recent history of
default.
Majority of cash and bank balances denominated in Renminbi
(“RMB”) are held in Mainland China and subject to local exchange
control regulations. These local exchange control regulations
restrict capital remitance from the teritory, other than through
normal dividend distribution. The RMB is not frely convertible
into other curencies, however, under Mainland China’s Foreign
Exchange Control Regulations and Administration of Setlement,
Sale and Payment of Foreign Exchange Regulations, the Group is
permited to exchange RMB for other curencies through banks
authorised to conduct foreign exchange busines.
29. ACOUNTS PAYABLE
An ageing analysis of acounts payable at the end of the
reporting period based on the date of supliers’ invoices is as
folows:
HK$’000
千港元
Within 30 days30
天内
24,967
31 to 60 days31
至
天
12,374
61 to 90 days61
至
天
5,272
Over 90 days
超过
天
23,352
65,965
The acounts payable, which relate to purchases of gods and
construction of properties, generaly have credit periods of 30 to
90 days (2024: 30 to 90 days). The length of the credit period
depends on the suplier’s or contractor’s relationships with the
Group, their asesments of the Group’s creditworthines, and
past setlement records.
| 2025 |
|---|
| HK$’000 |
| 千港元 5,005 |
| 6,689 |
| 784 |
| 1,806 |
| 30,078 |
| 44,362 |
| 2025 |
|---|
| HK$’000 |
| 千港元 1,867 |
| 1,874 |
| 3,741 |
Notes to the Consolidated Financial Statements
For the year ended 31 March 2025综合财务报表附注
截至二零二五年三月三十一日止年度
228Magnus Concordia Group Limited / 融太集团股份有限公司
30.
应计费用及其他应付账款
以下为应计费用及其他应付账款之分析：
31.
合约负债
本集团已确认以下与收入相关之合约负债：
于二零二三年四月一日，本集团已确认有
关销售印刷产品之合约负债约
61,000
港
元。本集团根据合约中确立的付费进度向
客户收取付款。
于二零二三年四月一日，本集团已确认有
关销售物业之合约负债约
18,967,000
港
元。本集团根据合约中确立的付费进度向
客户收取付款。
30. ACRUED CHARGES AND OTHER
PAYABLES
The folowing is an analysis of the acrued charges and other
payables:
HK$’000
千港元
Acrued staf costs, subcontracting costs
and other acruals
应计员工成本、分包费用及
其他应计费用
5,381
Customer, tenant and other deposits
客户、租户及其他按金
8,889
Construction costs payable related to
investment properties
与投资物业有关之应付建设费用
7,158
VAT and levies payable
增值税及应付征税
2,032
Others
其他
29,194
52,654
31. CONTRACT LIABILITIES
The Group has recognised the folowing revenue-related contract
liabilities:
HK$’000
千港元
Sale of printed products
销售印刷产品
1,490
Sale of properties
销售物业
6,994
Total contract liabilities
合约负债总额
8,484
As at 1 April 2023, the Group had recognised contract liabilities
related to sales of printed products of aproximately HK$61,000.
The Group receives payments from customers based on the
biling schedule as established in contracts.
As at 1 April 2023, the Group had recognised contract liabilities
related to sales of properties of aproximately HK$18,967,000.
The Group receives payments from customers based on the
payment schedule as established in contracts.
| 2025 |
|---|
| HK$’000 |
| 千港元 7,416 |
| 2025 |
|---|
| HK$’000 |
| 千港元 |
| 35,554 |
Notes to the Consolidated Financial Statements
For the year ended 31 March 2025综合财务报表附注
截至二零二五年三月三十一日止年度
229ANUAL REPORT 2025 • 二零二五年报
31.
合约负债（续）
于两个年度之合约负债减少乃主要由各年
度报告期初来自销售物业的合约负债确认
收入。
下表列示本报告期间确认的收入与转结合
约负债的相关部分。
于三月三十一日分配至剩余履约责任（未
履行）之交易价格金额如下：
31. CONTRACT LIABILITIES (Continued)
The decrease in contract liabilities in both years was mainly
due to the revenue recognised in respective year in relation to
contract liabilities at the begining of the reporting period from
the sale of properties.
The folowing table shows the amount of the revenue recognised
in the curent reporting period that relates to caried-forward
contract liabilities.
HK$’000
千港元
Revenue recognised that was included
in the contract liabilities balance at the
begining of the year for sales of
printed products and properties
就销售印刷产品及物业计入年初
合约负债结存的已确认收入
19,028
The amounts of transaction prices alocated to the remaining
performance obligations (unsatisfied) as at 31 March are as
folows:
HK$’000
千港元
Amounts expected to be recognised as
revenue:
预期确认为收入之款项：
Within one year
一年内
89,511
| 2025 | |
|---|---|
| Effective interest rate (%) | |
| (%) | |
| 实际利率 | HK$’000 |
| 3.55 to 7.00 3.55 7.00 | 千港元 105,441 |
| 至 2.80 | 22,213 |
| 4.70 | 4,000 |
| 131,654 | |
| 2025 |
|---|
| HK$’000 |
| 千港元 127,654 |
| 4,000 |
| – |
| 131,654 |
Notes to the Consolidated Financial Statements
For the year ended 31 March 2025综合财务报表附注
截至二零二五年三月三十一日止年度
230Magnus Concordia Group Limited / 融太集团股份有限公司
32.
银行及其他借款
银行及其他借款到期分析为：
附注：
(a)
本集团若干银行融资由以下各项作抵押：
(i)
本集团之使用权资产约
2,344,000
港元
（二零二四年：
2,461,000
港元）之抵押；
(i)
本集团之楼宇约
6,010,000
港元（二零
二四年：
7,287,000
港元）之抵押；及
(i)
本集团之投资物业约
178,100,000
港元
（二零二四年：
224,000,000
港元）及租
金收入之转让之抵押。
于二零二四年三月三十一日，本集团若干银行
融资亦由一间中国附属公司之
100%
股权作抵押。
(b)
于二零二四年三月三十一日，本集团若干银行
融资由本公司及一间中国附属公司的公司担保
作为担保。
(c)
于二零二五年三月三十一日，其他借款乃以
本集团金额约
18,626,000
港元之已完工待售物
业作抵押。
32. BANK AND OTHER BOROWINGS
Efective
interest
rate (%)
实际利率
(%)
HK$’000
千港元
Bank loans — secured (notes a and b)
银行贷款
—
有抵押
（附注
a
及
b
）
3.60 to 7.86
3.60
至
7.86
129,432
Other borowings — secured (note c)
其他银行贷款
—
有抵押
（附注
c
）
–
Other borowings — unsecured
其他借款
一
无抵押
2.80 to 4.70
2.80
至
4.70
26,379
155,811
Maturity of the bank and other borowings are analysed into:
HK$’000
千港元
Within one year or on demand
一年内或按要求
129,432
In the second year
第二年
22,379
In the third to fifth years, inclusive
第三至五年（包括首尾两年）
4,000
155,811
Notes:
(a) Certain bank facilities of the Group are secured by:
(i) the pledge of the Group’s right-of-use asets amounting to
aproximately HK$2,344,000 (2024: HK$2,461,000);
(i) the pledge of the Group’s buildings amounting to aproximately
HK$6,010,000 (2024: HK$7,287,000); and
(i) the pledge of the Group’s investment properties amounting to
aproximately HK$178,100,000 (2024: HK$224,000,000) and
asignment of rental income.
As at 31 March 2024, certain bank facilities of the Group are also secured
by the pledge of 100% equity of a PRC subsidiary.
(b) As at 31 March 2024, the certain bank facilities of the Group are guaranted
by corporate guarantes of the Company and a PRC subsidiary.
(c) As at 31 March 2025, the other borowings are secured by the pledge of
the Group’s completed properties for sale amounting to aproximately
HK$18,626,000.
Notes to the Consolidated Financial Statements
For the year ended 31 March 2025综合财务报表附注
截至二零二五年三月三十一日止年度
231ANUAL REPORT 2025 • 二零二五年报
32.
银行及其他借款（续）
亦如综合财务报表附注
所阐释，鉴于
采纳香港诠释第
号「财务报表之呈列
—
借款人将载有按要求还款条文之有期贷
款分类」，于二零二五年三月三十一日，
本集团载有按要求还款条文之总账面
值约为
105,441,000
港元（二零二四年：
129,432,000
港元）银行贷款已分类为流
动负债，截至二零二五年三月三十一日止
年度违反财务契诺的银行借款
88,000,000
港元（二零二四年三月三十一日：
118,652,000
港元）计入上述银行借款。就
上述分析而言，此等银行贷款已计入即期
计息银行贷款，并分析为于一年内或按要
求偿还之银行贷款。忽略任何按要求还款
条文之影响及根据银行借款之到期限，
有关银行借款之应付金额如下：
32. BANK AND OTHER BOROWINGS
(Continued)
As also explained in note 6 to the consolidated financial
statements, due to the adoption of HK Interpretation 5
Presentation of Financial Statements — Clasification by the
Borower of a Term Loan That Contains a Repayment on
Demand Clause, the Group’s bank loans with the agregate
carying amount of aproximately HK$105,441,000 (2024:
HK$129,432,000) as at 31 March 2025, containing a repayment
on demand clause, have ben clasified as curent liabilities, and
included in the aforesaid bank borowings are bank borowings of
HK$88,000,000 (31 March 2024: HK$118,652,000) with financial
covenants breached during the year ended 31 March 2025. For
the purpose of the above analysis, these bank loans are included
within curent interest-bearing bank loans and analysed into bank
loans repayable within one year or on demand. Ignoring the efect
of any repayment on demand clause and based on the maturity
terms of the bank borowings, the amounts repayable in respect
of the bank borowings are as folows:
Within
one year
In the
second
year
In the third
to fifth
years,
inclusiveTotal
一年内第二年
第三年至
第五年（包括
首尾两年）合计
HK$’000HK$’000HK$’000HK$’000
千港元千港元千港元千港元
As at 31 March 2025
于二零二五年
三月三十一日
28,19873,4983,745105,441
As at 31 March 2024
于二零二四年
三月三十一日
41,43216,00072,000129,432
| 2025 |
|---|
| HK$’000 |
| 千港元 11,005 |
| 105 |
| (854) |
| – |
| (8,847) |
| 10 |
| 1,419 |
| 794 |
| 625 |
| 1,419 |
Notes to the Consolidated Financial Statements
For the year ended 31 March 2025综合财务报表附注
截至二零二五年三月三十一日止年度
232Magnus Concordia Group Limited / 融太集团股份有限公司
32.
银行及其他借款（续）
如附注
所披露，于报告期末后，本集
团已于二零二五年六月二十七日获得银
行就上述银行借款在整个存续期内的财
务契诺作出一次性豁免。在该融资期间，
本集团同意并向银行承诺，其综合有形净
值在任何时候都不得低于一定水准。而该
银行借款截至二零二五年三月三十一日
止为
88,000,000
港元。这项一次性豁免仅
适用于本集团公布的截至二零二五年三月
三十一日止未经审核及经审核年度业绩。
此外，本集团已于二零二五年四月八日向
银行偿还
4,000,000
港元。
33.
租赁负债
租赁负债的账面值及年内变动如下：
租赁负债到期分析披露于综合财务报表附
注
。
于二零二五年三月三十一日，适用于租赁
负债的加权平均增额借款利率为
5.9%
（二
零二四年：
4.1%
）。
32. BANK AND OTHER BOROWINGS
(Continued)
As disclosed in note 43, subsequent to the end of the reporting
period, the Group has obtained a one-of waiver from the
bank on 27 June 2025 for the financial covenants of one of
the aforesaid bank borowings that throughout the life of the
facility, the Group agres and undertakes to the bank that its
consolidated tangible net worth should not at any time be les
than a certain level, and such bank borowing amounted to
HK$88,000,000 as of 31 March 2025. This one-of waiver only
aplies to the Group’s anouncement of unaudited and audited
anual results for the year ended 31 March 2025. Further, the
Group has repaid HK$4,000,000 to the bank on 8 April 2025.
33. LEASE LIABILITIES
The carying amount of lease liabilities and the movements during
the year are as folows:
HK$’000
千港元
Carying amount at begining of the year
于年初之账面值
1,100
Acretion of interest recognised
during the year
年内确认的利息增加
Payments
付款
(1,600)
Aditions
新增
11,465
Lease termination
租赁终止
–
Exchange realignment
汇兑调整
(89)
Carying amount at the end of the year
于年终之账面值
11,005
Analysed into:
分析为：
Curent portion
流动部分
1,523
Non-curent portion
非流动部分
9,482
11,005
The maturity analysis of lease liabilities is disclosed in note 6 to
the consolidated financial statements.
The weighted average incremental borowing rates aplied to
lease liabilities was 5.9% as at 31 March 2025 (2024: 4.1%).
| 2025 |
|---|
| HK$’000 |
| 千港元 16,190 |
| (3,220) |
| 12,970 |
Notes to the Consolidated Financial Statements
For the year ended 31 March 2025综合财务报表附注
截至二零二五年三月三十一日止年度
233ANUAL REPORT 2025 • 二零二五年报
34.
递延税项
以下为本集团确认的主要递延税项负债及
资产：
34. DEFERED TAX
HK$’000
千港元
Defered tax liabilities
递延税项负债
21,347
Defered tax asets
递延税项资产
(3,473)
17,874
The folowing are the major defered tax liabilities and asets
recognised by the Group:
Fair value
adjustments
arising from
busines
combination
Fair value
adjustments
arising from
investment
propertiesTax losesTotal
业务合并产生
的公平值调整
投资物业
产生之公平
值调整税项亏损总额
HK$’000HK$’000HK$’000HK$’000
千港元千港元千港元千港元
At 1 April 2023
在二零二三年四月一日
2,26536,396–38,661
Credited to income statement
during the year (note 14)
年内计入收益表（附注
）
(433)(16,214)(3,473)(20,120)
Exchange realignment
汇兑调整
(123)(544)–(667)
At 31 March 2024 and 1 April 2024
于二零二四年三月三十一日
及二零二四年四月一日
1,70919,638(3,473)17,874
(Credited)/charged to income
statement during the year
(note 14)
年内于损益表（计入）╱
扣除（附注
）
(1,009)(4,123)253(4,879)
Exchange realignment
汇兑调整
(4)(21)–(25)
At 31 March 2025
于二零二五年三月三十一日
69615,494(3,220)12,970
Notes to the Consolidated Financial Statements
For the year ended 31 March 2025综合财务报表附注
截至二零二五年三月三十一日止年度
234Magnus Concordia Group Limited / 融太集团股份有限公司
34.
递延税项（续）
于报告期末，本集团有未动用税务亏损
2.729
亿港元（二零二四年：
2.607
亿港元）
可用以抵销未来溢利。有关
1,950
万港元
（二零二四年：
2,110
万港元）之亏损已确
认为递延税项资产。由于未来溢利来源的
不确定性，余下
2.534
亿港元（二零二四
年：
2.396
亿港元）尚未确认为递延税项资
产。于中国之未动用税务亏损中有约
2,830
万港元（二零二四年：
2,480
万港元）将于
报告期末起五年内届满，于香港之余额并
无届满日期。
根据中国企业所得税法，于中国大陆成立
的外资企业向外国投资者宣派的股息须缴
纳
10%
预扣税。有关规定自二零八年
一月一日起生效及应用于二零七年十二
月三十一日之后之盈利。若中国大陆与外
国投资者所属司法权区订有税务协定，则
可适用较低预扣税率。本集团的适用税率
为
5%
。由于若干中国附属公司未汇出盈
利于二零二五年合共约
1,980
万港元（二
零二四年：
1,060
万港元）预期将用于再投
资，故该等盈利之预扣税产生之递延税项
负债约
万港元（二零二四年：
万港
元）并未于综合财务报表确认。
34. DEFERED TAX (Continued)
At the end of the reporting period the Group has unused tax
loses of HK$272.9 milion (2024: HK$260.7 milion) available
for ofset against future profits. A defered tax aset has ben
recognised in respect of HK$19.5 milion (2024: HK$21.1 milion)
of such loses. No defered tax aset has ben recognised in
respect of the remaining HK$253.4 milion (2024: HK$239.6
milion) due to the unpredictability of future profit streams. The
unused tax loses of aproximately HK$28.3 milion (2024:
HK$24.8 milion) in the PRC wil expire within five years from
the end of reporting period and the remaining balances in Hong
Kong have no expiry dates.
Pursuant to the PRC Corporate Income Tax Law, a 10%
witholding tax, is levied on dividends declared to foreign investors
from the foreign investment enterprises established in Mainland
China. The requirement is efective from 1 January 2008 and
aplies to earnings after 31 December 2007. A lower witholding
tax rate may be aplied if there is a tax treaty betwen Mainland
China and the jurisdiction of the foreign investors. The aplicable
rate of the Group is 5%. Defered tax liabilities of aproximately
HK$1.0 milion (2024: HK$0.5 milion) arising from witholding
tax on the unremited earnings of certain PRC subsidiaries which
totaled aproximately HK$19.8 milion in 2025 (2024: HK$10.6
milion) have not ben recognised in the consolidated financial
statements as these earnings are expected to be reinvested.
| 2025 |
|---|
| HK$’000 |
| 千港元 |
| 800,000 |
| 20,000 |
| 577,920 |
Notes to the Consolidated Financial Statements
For the year ended 31 March 2025综合财务报表附注
截至二零二五年三月三十一日止年度
235ANUAL REPORT 2025 • 二零二五年报
35.
股本
本公司之股本变动概述如下：
附注：
(i)
本公司优先股在股息及资本退还方面享有优先
于普通股之权益。
于二零二年八月三十一日举行之股东周
年大会上，本公司已采纳一项新购股权计
划（「新计划」），其有效年期为自采纳日期
起计十年。根据新计划，董事可向合资格
人士（定义见新计划，其中包括本公司及
其附属公司之任何董事、雇员或业务顾问）
授出购股权，以让其根据新计划所订之条
款及条件认购本公司之股份。根据新计划
可授出之购股权所涉及之最高股份数目为
本公司于二零二年八月三十一日已发行
股本之
10%
。自新计划获采纳后，概未据
此授出任何购股权。
35. SHARE CAPITAL
HK$’000
千港元
Authorised:
法定：
8,000,000,000 (2024: 8,000,000,000)
ordinary shares of HK$0.10 each
8,000,000,000
股（二零二四年：
8,000,000,000
股）
每股面值
0.10
港元的普通股
800,000
2,000,000,000 (2024: 2,000,000,000)
preference shares (note (i)
2,000,000,000
股（二零二四年：
2,000,000,000
股）优先股
（附注
(i)
）
20,000
Isued and fuly paid:
已发行及缴足：
5,779,196,660 (2024: 5,779,196,660)
ordinary shares of HK$0.10 each
5,779,196,660
股（二零二四年：
5,779,196,660
股）
每股面值
0.10
港元的普通股
577,920
A sumary of movements in the Company’s share capital is as
folows:
Number of
shares in isue
Share
capital
已发行股份数目股本
HK$’000
千港元
At 1 April 2023, 31 March 2024,
1 April 2024 and 31 March 2025
于二零二三年四月一日、
二零二四年三月三十一日、
二零二四年四月一日及
二零二五年三月三十一日
5,779,196,660577,920
Note:
(i) The preference shares rank in priority to the ordinary shares of the Company
as to dividend and return of capital.
The Company adopted a new share option scheme (the “New
Scheme”) pursuant to the anual general meting held on 31
August 2022, which is valid and efective for a term of ten years
from the date of its adoption. Under the New Scheme, the
directors may grant options to the eligible persons as defined in
the New Scheme, inter alia, any directors, employes or busines
consultants of the Company and its subsidiaries, to subscribe for
shares in the Company under the terms and conditions stipulated
therein. The maximum number of shares in respect of which
options may be granted under the New Scheme shal be 10% of
the isued share capital of the Company as at 31 August 2022.
No options have ben granted under the New Scheme since its
adoption.
Notes to the Consolidated Financial Statements
For the year ended 31 March 2025综合财务报表附注
截至二零二五年三月三十一日止年度
236Magnus Concordia Group Limited / 融太集团股份有限公司
35.
股本（续）
资本风险管理
本集团管理资本之目的为保障本集团之持
续经营能力，以为股东带来回报及为其他
股本持有人带来收益，及保持理想之资本
结构以减低资本成本。
为保持或调整资本结构，本集团可调整派
付予股东之股息金额、发行新股份或出售
资产以减少负债。
本集团根据负债资本比率监控资本。负债
资本比率乃计算为银行及其他借款除以本
公司权益持有人应占资产净值之百分比。
银行及其他借款按银行及其他借款总额
（包括综合财务状况表所列之流动及非流
动银行及其他借款）计算。本公司拥有人
应占之资产净值指综合财务状况表所列之
股东资金。于二零二五年三月三十一日，
负债资本比率为
232.4%
（二零二四年：
109.6%
）。
36.
储备
本集团于本年度及过往年度之储备金额及
其变动呈列于综合权益变动表。
37.
承担
于二零二五年三月三十一日，本集团并无
资本承担（二零二四年：本集团并无资本
承担）。
35. SHARE CAPITAL (Continued)
Capital risk management
The objectives of the Group for managing capital are to
safeguard the ability of the Group to continue as a going concern
in order to provide returns for shareholders and benefits for other
stakeholders and to maintain an optimal capital structure to
reduce the cost of capital.
In order to maintain or adjust the capital structure, the Group
may adjust the amount of dividends paid to shareholders, isue
new shares or sel asets to reduce debt.
The Group monitors capital on the basis of the debt to equity
ratio. This ratio is calculated as a percentage of bank and other
borowings over net aset value atributable to equity holders
of the Company. Bank and other borowings are calculated as
total bank and other borowings (including curent and non-
curent bank and other borowings as shown in the consolidated
statement of financial position). Net aset value atributable
to owners of the Company represents shareholders’ funds as
shown in the consolidated statement of financial position. As
at 31 March 2025, the debt to equity ratio was 232.4% (2024:
109.6%).
36. 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.
37. COMITMENTS
As at 31 March 2025, the Group has no capital comitment
(2024: the Group has no capital comitment).
Notes to the Consolidated Financial Statements
For the year ended 31 March 2025综合财务报表附注
截至二零二五年三月三十一日止年度
237ANUAL REPORT 2025 • 二零二五年报
38.
或然负债
除综合财务报表其他章节披露者外，
于二零二五年三月三十一日，本集团就
若干银行向本集团若干中国大陆物业
买家作出的按揭贷款提供财务担保总
额约
600,527,000
港元（二零二四年：
706,381,000
港元），方式为直接向银行或
向安排银行抵押之住房公积金管理中心提
供。根据担保的条款，倘该等买方未能支
付按揭款项，本集团须负责向银行偿还违
约买方拖欠的未偿还按揭本金，连同应计
利息及罚款，而本集团有权（但不限于）接
管有关物业的法定业权及所有权。本集团
的担保期由授出有关按揭贷款当日开始
至发出房地产权证为止。本公司董事认为
担保开始时的公平值并不重大，原因是相
关买家违约的可能性极低，倘未能支付款
项，相关物业的可变现净值将足以偿还所
欠的按揭本金、应计利息及罚款。因此，
本集团截至二零二五年三月三十一日止年
度之综合财务报表并无为该等担保作出拨
备（二零二四年：无）。
38. CONTINGENT LIABILITIES
Save as disclosed elsewhere in the consolidated financial
statements, as at 31 March 2025, the Group has provided
financial guarantes in respect of mortgage loans made by
certain banks to certain purchasers of the Group’s properties in
Mainland China, either directly provided to the banks or to the
housing provident fund management centre which aranged the
bank mortgages amounting to aproximately HK$600,527,000
(2024: HK$706,381,000) in agregate. Pursuant to the terms
of the guarantes, upon default in mortgage payments by
these purchasers, the Group is responsible for repaying the
outstanding mortgage principals together with the acrued
interest and penalty owed by the defaulting purchasers to the
banks and the Group is entitled but not limited to take over the
legal titles and posesion of the related properties. The Group’s
guarante period starts from the dates of grant of the relevant
mortgage loans and ends upon isuance of real estate ownership
certificates. The directors of the Company consider that the fair
values of the guarantes were not significant at the inception
of the guarantes as the posibility of default by the relevant
purchasers is remote, and in the case of defaulted payments, the
net realisable value of the related properties wil be suficient to
cover the outstanding mortgage principals, the acrued interest
and penalty. Therefore, no provision has ben made in the
consolidated financial statements of the Group for the year ended
31 March 2025 (2024: nil) for these guarantes.
Notes to the Consolidated Financial Statements
For the year ended 31 March 2025综合财务报表附注
截至二零二五年三月三十一日止年度
238Magnus Concordia Group Limited / 融太集团股份有限公司
39.
综合现金流量表附注
融资活动产生之负债之变动如下：
39. NOTES TO THE CONSOLIDATED
STATEMENT OF CASH FLOWS
The movements in liabilities from financing
activities are as folows:
Interest
payable
(included in
acrued
charges
and other
payables)
Bank
and other
borowings
Lease
liabilities
应付利息
（计入应计
费用及其他
应付账款）银行及其他借款租赁负债
HK$’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
657188,8421,100
Changes from financing cash flows
融资现金流量变动
(9,882)(31,496)(1,600)
Finance costs
融资费用
10,022–129
Aditions
增加
–11,465
Exchange realignment
汇兑调整
–(1,535)(89)
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
797155,81111,005
Changes from financing cash flows
融资现金流量变动
(7,188)(23,857)(854)
Finance costs
融资费用
7,330–105
Lease terminations
租赁终止
–(8,847)
Exchange realignment
汇兑调整
–(300)10
At 31 March 2025
于二零二五年三月三十一日
939131,6541,419
| 2025 |
|---|
| HK$’000 |
| 千港元 158 |
| 854 |
| 1,012 |
| 2025 |
|---|
| HK$’000 |
| 千港元 2,412 |
| 46 |
| 2,458 |
Notes to the Consolidated Financial Statements
For the year ended 31 March 2025综合财务报表附注
截至二零二五年三月三十一日止年度
239ANUAL REPORT 2025 • 二零二五年报
39.
综合现金流量表附注（续）
计入综合现金流量表的租赁现金
流出总额如下：
40.
关联方交易
董事及其他主要管理层成员之薪酬如下：
39. NOTES TO THE CONSOLIDATED
STATEMENT OF CASH FLOWS
(Continued)
The total cash outflow for leases included in
the consolidated statement of cash flows is
as folows:
HK$’000
千港元
Within operating activities
经营活动
Within financing activities
融资活动
1,600
2,200
40. RELATED PARTY TRANSACTIONS
The remuneration of directors and other members of key
management is as folows:
HK$’000
千港元
Short-term benefits
短期福利
2,351
Post-employment benefits
离职后福利
2,380
| 2025 |
|---|
| HK$’000 |
| 千港元 |
| 1,479 |
| 424 |
| 164,600 |
| 166,503 |
| 710 |
| 10,422 |
| 11,132 |
| 25,675 |
| 1,883 |
| 88,000 |
| 794 |
| 116,352 |
| (105,220) |
| 61,283 |
| 4,000 |
| 625 |
| 4,625 |
| 56,658 |
| 577,920 |
| (521,262) |
| 56,658 |
Notes to the Consolidated Financial Statements
For the year ended 31 March 2025综合财务报表附注
截至二零二五年三月三十一日止年度
240Magnus Concordia Group Limited / 融太集团股份有限公司
41.
本公司财务资料
本公司财务状况表
41. FINANCIAL INFORMATION OF THE
COMPANY
Statement of financial position of the
Company
HK$’000
千港元
Non-curent asets
非流动资产
Property, plant and equipment
物业、厂房及设备
2,266
Intangible asets
无形资产
–
Interests in subsidiaries
于附属公司之权益
244,575
246,841
Curent asets
流动资产
Prepayments and other receivables
预付款项及其他应收账款
Cash and bank balances
现金及银行结存
10,596
11,286
Curent liabilities
流动负债
Amount due to a subsidiary
应付附属公司款项
4,543
Acrued charges and other payables
应计费用及其他应付账款
1,283
Bank and other borowings
银行及其他借款
104,000
Lease liabilities
租赁负债
110,576
Net curent liabilities
流动负债净值
(99,290)
Total asets les curent liabilities
资产总值减流动负债
147,551
Non-curent liabilities
非流动负债
Bank and other borowings
银行及其他借款
4,000
Lease liabilities
租赁负债
1,419
5,419
Net asets
资产净值
142,132
Equity
权益
Share capital
股本
577,920
Deficit (note)
亏绌（附注）
(435,788)
Total equity
权益总额
142,132
Notes to the Consolidated Financial Statements
For the year ended 31 March 2025综合财务报表附注
截至二零二五年三月三十一日止年度
241ANUAL REPORT 2025 • 二零二五年报
41. FINANCIAL INFORMATION OF THE
COMPANY (Continued)
Statement of financial position of the
Company (Continued)
Note:
A sumary of the Company’s reserves is as folows:
Share
premium
Other
reserve
Contributed
surplus
Acumulated
losesTotal
股份溢价其他储备缴入盈余累计亏损总额
HK$’000HK$’000HK$’000HK$’000HK$’000
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
331,6104,00077,963(726,968)(313,395)
Los for the year
本年度亏损
–(122,393)(122,393)
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
331,6104,00077,963(849,361)(435,788)
Los for the year
本年度亏损
–(85,474)(85,474)
At 31 March 2025
于二零二五年三月三十一日
331,6104,00077,963(934,835)(521,262)
Pursuant to the special resolution aproved by the shareholders
of the Company in the 2016 anual general meting of the
Company, share premium, other reserve and contributed
surplus of the Company are available for distribution to
ordinary shareholders of the Company (after deduction of the
acumulated loses) provided that the Company wil be able to
pay its debts as they fal due in the ordinary course of busines
imediately folowing the date on which any such distribution is
proposed to be paid.
Other reserve of the Company relates to contribution by the then
substantial shareholders of the Company who were also the
then holders of the preference shares. It represents the exces
of the face value of redemable preference shares over the
consideration paid upon redemption in 2004.
The contributed surplus of the Company represents the
diference betwen the underlying net asets of the subsidiaries
which were acquired by the Company at the date of a group
reorganisation in 1996 (the “Group Reorganisation”) and the
nominal amount of the shares isued by the Company for the
Group Reorganisation.
41.
本公司财务资料（续）
本公司财务状况表（续）
附注：
本公司之储备概要如下：
根据本公司股东于本公司二零一六年股东
周年大会上批准之特别决议案，本公司之
股份溢价、其他储备及缴入盈余（于扣除
累计亏损后）可供分派予本公司普通股
东，惟紧随于建议作出任何分派之日期后
本公司须能在日常业务中偿还到期之债项。
本公司之其他储备与本公司当时的主要股
东，即当时优先股之持有人缴入之款项有
关，乃指可赎回优先股面值超逾二零四
年赎回时所付代价之数额。
本公司之缴入盈余为于一九六年集团重
组（「集团重组」）当日本公司所收购附属公
司之相关资产净值与本公司因集团重组而
发行股份之面值两者之差额。
| 本公司应占 31 March 2025 |
|---|
| 二零二五年 |
| 三月三十一日 Indirectly |
| 间接 100% |
| 100% |
| 100% |
| 100% |
| 100% |
| 100% |
Notes to the Consolidated Financial Statements
For the year ended 31 March 2025综合财务报表附注
截至二零二五年三月三十一日止年度
242Magnus Concordia Group Limited / 融太集团股份有限公司
42. PRINCIPAL SUBSIDIARIES
Particulars of the Company’s principal subsidiaries are as folows:
Name
Place of
incorporation/
operation
Isued ordinary/
registered share capital
Percentage of equity
atributable to the CompanyPrincipal activities
名称
注册成立╱
经营地点
已发行普通股╱
注册股本公司应占权益百分比主要业务
31 March 2024
二零二四年
三月三十一日
Indirectly
间接
自贡中置文化旅游投资有限公司
(note
附注
)
Mainland ChinaRMB32,000,000
(2024: RMB32,000,000)
100%Property development
中国大陆人民币
32,000,000
元
（二零二四年：
人民币
32,000,000
元）
物业发展
Guangdong Boluo Yuanzhou
Midas Printing Limited (note)
Mainland ChinaUS$12,500,000
(2024: US$12,500,000)
100%Manufacture and sale of
printed products
广东省博罗县园洲勤达印务
有限公司（附注）
中国大陆
12,500,000
美元
（二零二四年：
12,500,000
美元）
印刷产品制造及销售
Midas Printing International LimitedHong KongHK$7,000
(2024: HK$7,000)
100%Trading of printed products
勤达印刷国际有限公司香港
7,000
港元
（二零二四年：
7,000
港元）
印刷产品贸易
广州融太投资咨询服务有限公司
(note
附注
)
Mainland ChinaRMB10,000,000
(2024: RMB10,000,000)
100%Property investment
中国大陆人民币
10,000,000
元
（二零二四年：
人民币
10,000,000
元）
物业投资
Magnus Concordia Development
(Chengdu) Limited
Hong KongHK$60,000,000
(2024: HK$60,000,000)
100%Property investment
融太发展（成都）有限公司香港
60,000,000
港元
（二零二四年：
60,000,000
港元）
物业投资
Perfect Outlok LimitedBritish Virgin Islands/
Hong Kong
US$1
(2024: US$1)
100%Property investment
英属处女群岛╱
香港
美元（二零二四年：
美元）物业投资
42.
主要附属公司
本公司主要附属公司详情如下：
| 本公司应占 31 March 2025 |
|---|
| 二零二五年 |
| 三月三十一日 Indirectly |
| 间接 100% |
| 100% |
| 100% |
| 100% |
| 100% |
Notes to the Consolidated Financial Statements
For the year ended 31 March 2025综合财务报表附注
截至二零二五年三月三十一日止年度
243ANUAL REPORT 2025 • 二零二五年报
附注：
该等实体以外商独资企业之方式注册。
上表载列董事认为主要影响本集团年内业
绩或构成净资产主要部分的本公司附属公
司。董事认为，详列其他附属公司之详情
将会引致内容过于冗长。
Name
Place of
incorporation/
operation
Isued ordinary/
registered share capital
Percentage of equity
atributable to the CompanyPrincipal activities
名称
注册成立╱
经营地点
已发行普通股╱
注册股本公司应占权益百分比主要业务
31 March 2024
二零二四年
三月三十一日
Indirectly
间接
Delta Key LimitedBritish Virgin Islands/
Hong Kong
US$1
(2024: US$1)
100%Property investment
英属处女群岛╱
香港
美元（二零二四年：
美元）物业投资
Ever Favour LimitedHong KongHK$1
(2024: HK$1)
100%Property investment
永利晖有限公司香港
港元（二零二四年：
港元）物业投资
广州银凯房地产有限公司
(note
附注
)Mainland ChinaRMB10,000,000
(2024: RMB10,000,000)
100%Property investment
中国大陆人民币
10,000,000
元
（二零二四年：
人民币
10,000,000
元）
物业投资
Lever Printing Factory LimitedHong KongHK$500,000
(2024: HK$500,000)
100%Treasury investment
利华印刷厂有限公司香港
500,000
港元
（二零二四年：
500,000
港元）
库务投资
Magnus Concordia Management
Limited
Hong KongHK$1
(2024: HK$1)
100%Management services and
treasury investment
融太集团管理有限公司香港
港元（二零二四年：
港元）管理服务及库务投资
Note: The entities are registered in the form of wholy-owned foreign investment
enterprises.
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.
42. PRINCIPAL SUBSIDIARIES (Continued)
Particulars of the Company’s principal subsidiaries are as folows:
(Continued)
42.
主要附属公司（续）
本公司主要附属公司详情如下：（续）
Notes to the Consolidated Financial Statements
For the year ended 31 March 2025综合财务报表附注
截至二零二五年三月三十一日止年度
244Magnus Concordia Group Limited / 融太集团股份有限公司
43.
报告期后事项
就本集团于年内违反财务契诺之银行借
款
88,000,000
港元而言，本集团已于二零
二五年六月二十七日获得银行就上述银行
借款在整个存续期内的财务契诺作出一
次性豁免。在该融资期间，本集团同意并
向银行承诺，其综合有形净值在任何时候
都不得低于一定水准。这项一次性豁免仅
适用于本集团公布的截至二零二五年三月
三十一日止未经审核及经审核年度业绩。
借款之还款时间表和按要求偿还条款保持
不变。此外，本集团已按照还款时间表于
二零二五年四月八日向银行偿还
4,000,000
港元。
44.
批准综合财务报表
综合财务报表已由董事会于二零二五年六
月三十日批准及授权刊发。
43. EVENT AFTER THE REPORTING PERIOD
In respect of the bank borowing of HK$88,000,000 which the
Group breached the financial covenant during the year, the
Group has obtained a one-of waiver from the bank on 27 June
2025 for the financial covenant of the aforesaid bank borowing
that throughout the life of the facility, the Group agres and
undertakes to the bank that its consolidated tangible net worth
should not at any time be les than a certain level. This one-of
waiver only aplies to the Group’s anouncement of unaudited
and audited anual results for the year ended 31 March 2025.
The repayment schedules of the borowing and the repayment
on demand clause remain unchanged. Further, the Group has
repaid HK$4,000,000 to the bank on 8 April 2025 in acordance
with the repayment schedule.
44. APROVAL OF THE CONSOLIDATED
FINANCIAL STATEMENTS
The consolidated financial statements were aproved and
authorised for isue by the board of directors on 30 June 2025.
Particulars of Principal Properties
主要物业资料
245ANUAL REPORT 2025 • 二零二五年报
Investment Properties
The folowing list contains investment properties held by the Group as
at 31 March 2025.
LocationTermUsageGroup’s interest
地点租约期限用途本集团拥有权益
Shop B, Ground Flor,Medium leaseComercial100%
Wuhu Residence,
中期租约商业
No. 111 Wuhu Stret,
Hunghom, Kowlon,
Hong Kong
香港
九龙红磡
芜湖街
号
芜湖居
地下
B
商舖
Shop D, Ground Flor,Medium leaseComercial100%
Wuhu Residence,
中期租约商业
No. 111 Wuhu Stret,
Hunghom, Kowlon,
Hong Kong
香港
九龙红磡
芜湖街
号
芜湖居
地下
D
商舖
Shops 3, 4 and 5, Medium leaseComercial100%
Ground Flor,
中期租约商业
Parkes Residence,
No. 101 Parkes Stret,
Kowlon,
Hong Kong
香港
九龙
白加士街
号
珀
•
轩
地下第
、
及
号舖
投资物业
本集团于二零二五年三月三十一日持有之投资
物业载于下文。
Particulars of Principal Properties
主要物业资料
246Magnus Concordia Group Limited / 融太集团股份有限公司
投资物业（续）
LocationTermUsageGroup’s interest
地点租约期限用途本集团拥有权益
6th Flor, Chengdu Digital Plaza,Medium leaseComercial100%
No. 1 Renmin South Road Fourth
中期租约商业
Portion, Wuhou District, Chengdu,
Sichuan Province,
the People’s Republic of China
(the “PRC”)
中华人民共和国（「中国」）
四川省
成都市武侯区
人民南路四段
号
成都数码广场
楼
Investment Properties (Continued)
Particulars of Principal Properties
主要物业资料
247ANUAL REPORT 2025 • 二零二五年报
Completed properties for sale
The folowing list contains principal completed properties for sale held
by the Group as at 31 March 2025.
LocationTermUsageGroup’s interest
Gros flor
area sq.m
(Aproximately)
地点租约期限用途
本集团
拥有权益
总楼面积
平方米（概约）
Land lots C1-9 Yongyaju,
Zhongang Shenhai Forest Project,
the high-tech Industrial development zone of
the Yanluyu District of
Wolong Lake in Zigong City,
Sichuan Province, the PRC
Long lease
长期租约
Residential
住宅
100%400
中国四川省
自贡市高新技术产业开发区
卧龙湖盐卤浴片区
中港
•
燊海森林项目
C1-9
地块雍雅居
Land lots C1-10 Yongyaju,
Zhongang Shenhai Forest Project,
the high-tech Industrial development zone of
the Yanluyu District of
Wolong Lake in Zigong City,
Sichuan Province, the PRC
Long lease
长期租约
Residential
住宅
100%24,000
中国四川省
自贡市高新技术产业开发区
卧龙湖盐卤浴片区
中港
•
燊海森林项目
C1-10
地块雍雅居
Land lots C1-11 Yongyaju,
Zhongang Shenhai Forest Project,
the high-tech Industrial development zone of
the Yanluyu District of
Wolong Lake in Zigong City,
Sichuan Province, the PRC
Long lease
长期租约
Residential
住宅
100%2,000
中国四川省
自贡市高新技术产业开发区
卧龙湖盐卤浴片区
中港
•
燊海森林项目
C1-11
地块雍雅居
已完工待售物业
本集团于二零二五年三月三十一日持有之主要
已完工待售物业载于下文。
| 2025 |
|---|
| HK$’000 |
| 千港元 205,814 |
| (85,172) |
| 2025 |
|---|
| HK$’000 |
| 千港元 608,748 |
| (552,090) |
| 56,658 |
| 56,658 |
Financial Sumary
财务概要
248Magnus Concordia Group Limited / 融太集团股份有限公司
Results
For the year ended 31 March
截至三月三十一日止年度
HK$’000HK$’000HK$’000HK$’000
千港元千港元千港元千港元
REVENUE
收入
271,012416,8281,587,3492,140,562
(LOS)/PROFIT FOR THE YEAR
本年度（亏损）╱溢利
(117,417)(352,847)(269,993)2,983
Asets and liabilities
At 31 March
于三月三十一日
HK$’000HK$’000HK$’000HK$’000
千港元千港元千港元千港元
TOTAL ASETS
资产总值
755,0281,003,7731,528,4123,095,675
TOTAL LIABILITIES
负债总额
(612,891)(738,452)(875,870)(2,197,107)
NET ASETS
资产净值
142,137265,321652,542898,568
ATRIBUTABLE TO EQUITY
OWNERS OF THE COMPANY
本公司权益持有人应占
142,137265,321652,542898,568
业绩
资产及负债