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Hsin Chong Group Holdings Limited 新昌集團控股有限公司 (Incorporated in Bermuda with Limited Liability 於百慕達註冊成立之有限公司)

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Hsin Chong Group Holdings Limited 新昌集團控股有限公司 (Incorporated in Bermuda with Limited Liability 於百慕達註冊成立之有限公司) Hsin Chong Group Holdings Limited 新昌集團控股有限公司 (Incorporated in Bermuda with limited liability 於百慕達註冊成立之有限公司) Stock Code 股份代號: 00404.HK ANNUAL REPORT 2016 年報 願景 VISION The Leader in Construction, Property and Related Services. 成為建造、房地產及相關服務的行業領導者。 使命 We are committed to: MISSION 我們致力： • creating value for our customers and delivering quality services at world-class standard; and 為客戶創造價值及提供世界級的優質服務；及 • delivering value to our shareholders through maximising market share and returns. 擴大市場佔有率及提升回報，為股東締造更高 的價值。 價值 VALUES Heart and Harmony 全心全意 和諧共勉 • We strive for perfection through service from the heart and work harmoniously together by complementing and supplementing each other. 我們盡心服務，力臻完善，並和諧共勉，彼此互補優勢。 Can-do attitude and Commitment to quality 樂觀積極 優質承諾 • We uphold a can-do attitude with integrity and are committed to delivering quality that will earn the respect and loyalty of our stakeholders. 我們堅持樂觀積極的態度，堅守誠實廉正的信念，並矢志以 優質服務，贏取持份者的尊重與忠誠。 Contents 目錄 Chairman’s Statement Independent Auditor’s Report 2 主席報告 98 獨立核數師報告 Management Discussion and Analysis Consolidated Income Statement 6 管理層討論及分析 108 綜合收益表 Profiles of Directors Consolidated Statement of Comprehensive Income 23 董事之簡介 109 綜合全面收益表 Profiles of the Group’s Key Personnel Consolidated Balance Sheet 37 集團要員之簡介 110 綜合資產負債表 Corporate Governance Report Consolidated Statement of Cash Flows 46 企業管治報告 112 綜合現金流量表 Environmental, Social and Governance Report Consolidated Statement of Changes in Equity 66 環境、社會及管治報告 114 綜合權益變動表 Directors’ Report Notes to the Consolidated Financial Statements 75 董事會報告 117 綜合財務報表附註 Five-Year Financial Summary 215 五年財務摘要 Major Projects 216 主要工程項目 Major Properties 220 主要物業 Corporate Information 224 公司資料 Chairman’s Statement 主席報告 Non-executiveNon-executive Chairman, Chairman, Mr. Mr. LIN LIN Zhuo Zhuo Yan Yan 非執行主席，非執行主席，林卓延先生林卓延先生 I am pleased to report the annual report and consolidated financial statements of 本人欣然向各位股東提呈新昌集團控股有限公司（「本公 Hsin Chong Group Holdings Limited (the “Company” or “Hsin Chong”), and its 司」或「新昌」）及其附屬公司（統稱「本集團」）截至2016 subsidiaries, (collectively, the “Group”), for the year ended 31 December 2016 to 年12月31日止年度的年報及綜合財務報表。 our shareholders. Business review 業務回顧 2016 was a year full of challenges and opportunities for the Group. While 2016年對本集團而言是挑戰與機遇並存的一年。我們一方 continuing our active role in our core construction business and diversifying our 面繼續積極發展我們的核心建造業務、使中國內地的物業 property portfolio in the Mainland of China, we have strived to expand our core 組合多元化，同時亦致力將核心業務拓展至新的地域。 business to new geographical areas. Construction business 建造業務 During the year, the Group’s core construction business continued to be 年內，本集團的核心建造業務繼續產生盈利。其錄得毛利港 profitable, recording a gross profit of HK$436 million, which represents an 幣436,000,000元，較2015年增加4%。毛利率增加0.3個百 increase of 4% over 2015. Gross profit margin increased by 0.3 percentage point 分點至4.7%。於2016年12月31日，手頭未完成合約額（不 to 4.7%. As of 31 December 2016, the outstanding workload (excluding NSC) 包括澳門銀河娛樂渡假村第二期項目的指定分判商工程） exceeded HK$12 billion. Among all the contracts on hand, 64% were from the 超過港幣120億元。於所有手頭合約中，64%來自政府及 Government, Hong Kong Housing Authority and the MTR Corporation. Another 香港房屋委員會以及港鐵公司，其他36%大部分乃來自知 36% were mostly from prestigious private property developers such as Kerry 名物業發展商，例如：嘉里建設、新世界發展、太古地產、 Properties, New World Development, Swire Properties, Lai Sun Development, and 麗新發展，以及澳門博彩業營辦商，例如：威尼斯人、銀河 Macau gaming operators like Venetian, Galaxy Entertainment Group and SJM 娛樂集團及澳門博彩控股。 Holdings. With a full range of services and a committed and professional workforce, we 憑藉全面的服務組合及勤勉專業的員工隊伍，新昌繼續為 continue to lay cornerstones for Hong Kong’s development. Two notable projects 香港發展夯實根基。其中兩個於去年獲得的項目最值得一 awarded last year are worth special mentioning. The first is the main contract 提，第一項是香港海洋公園萬豪酒店發展項目的總承建商 works for a splendid hotel development in Hong Kong Ocean Park. The second 合約，第二項是位於啟德的香港警務處東九龍總區總部的 is a design and construction contract for the Hong Kong Police Force’s Kowloon 設計及建築合約。 East Regional Headquarters in Kai Tak. 2 HSIN CHONG GROUP HOLDINGS LIMITED ANNUAL REPORT 2016 Chairman’s Statement 主席報告 2016 also saw the successful diversification and globalization of the Company’s 本公司於2016年成功推動本公司核心建造業務的多元化 core construction business. Riding on our strong construction expertise and 和全球化。憑藉我們於香港及澳門的強大建造專長及豐富 experience in Hong Kong and Macau, our Construction Management Services 經驗，我們的建造管理服務（「建造管理服務」）部門取得一 (the “CMS”) division was awarded a landmark project to build the 500-metre 項地標性項目，建造133層500米高的柬埔寨泰文隆雙子大 tall (133 storeys) Thai Boon Roong Twin Tower World Trade Center in Cambodia. 廈世貿中心。於完成後，其將成為柬埔寨最高的建築物， When completed, this will be the tallest building in Cambodia as well as one of 並躋身世界最高的建築物之一。 the world’s highest buildings. The new projects in Hong Kong and Cambodia demonstrate our commitment 於香港及柬埔寨的新項目充分彰顯我們透過選擇性拓展 and determination to be a leader in the construction industry by broadening 海外市場擴闊海內外業務組合，成為建築業引領者的承諾 our business portfolio both at home and through selective expansion overseas. 及決心。我們很高興有機會為柬埔寨城市景觀的發展作出 Indeed, we are pleased with the opportunity to contribute to the development 貢獻，將幫助我們建立於海外市場的聲譽及堅實基礎，是 of Cambodia’s urban landscape, enhancing our reputation and foundation in 未來可持續發展的重要一環。 overseas markets as part of our sustainable growth into the future. Property and Facility Management and ISP Business 物業及設施管理以及室內裝飾及特殊項目業務 The Property and Facility Management and ISP Business was disposed of in 物業及設施管理以及室內裝飾及特殊項目業務已於2016 November 2016 and the Group recorded a gain of HK$185.9 million. 年11月出售及本集團錄得港幣185,900,000元之收益。 Property development 物業發展 Over the course of the last few years, Hsin Chong has pursued a strategic 於過往年度，新昌對其物業業務組合進行策略轉型。現時， transformation in its property business portfolio. Currently, the Group has two 本集團於北京及廣州等一線城市擁有兩項已完成物業及 completed properties in the first tier cities of Beijing and Guangzhou and four 於佛山、泰安、天津及鐵嶺擁有四項發展中物業。 properties under development in Foshan, Tai’an, Tianjin and Tieling. During the period, this division delivered a revenue of HK$64 million and a gross 期內，此分部產生收益港幣64,000,000元 及 毛 利 港 幣 profit of HK$20 million. 20,000,000元。 Fund raising activities 集資活動 A USD150 million 3-year senior notes due in January 2019 with 8.5% p.a. was 我們成功在國際債務資本市場發行本金額150,000,000美 released successfully in the international debt capital markets. The coupon is lower 元於2019年1月到期的3年期8.5厘優先票據。是次發行的票 than the notes previously issued in 2015 and shows certain market interest and 息率較2015年發行的優先票據更低，反映市場對我們的3 confidence in our 3-year USD notes. 年期美元票據有一定的興趣及信心。 International Real Estate and Hospitality Business 國際地產及旅遊發展業務 During 2016, the International Property and Hospitality Development Division 於2016年，國際地產及旅遊發展業務部門已告成立，以使 was established to allow Hsin Chong to pursue global real estate investment and 新昌能夠把握全球房地產投資及旅遊發展業務機會。於 hospitality opportunities. As a start, in early 2017, we signed a Memorandum of 2017年年初，我們與一名國際發展商訂立諒解備忘錄，為 Understanding with an international developer to offer project management and 一個位於緬甸Ngwe Saung 、面積1,800英畝的大型綜合海 construction management services for a large scale, 1,800 acre integrated seaside 濱度假村發展項目提供項目管理及建造管理服務。 resort development in Ngwe Saung in Myanmar. 新昌集團控股有限公司 2016年報 3 Chairman’s Statement 主席報告 Over the year, we have also focused our efforts in exploring opportunities to 於年內，我們亦專注於探索機會為年長的市民提供優質的 provide quality aged care services for senior citizens. After starting the joint 養老服務。繼與澳洲合作夥伴成立合營企業「新藍寶安老 venture company, HC Sapphire Senior Living Ltd (HCSSL) with our Australian 生活有限公司」（新藍寶安老生活）後，新昌在佛山星悅南 partner, a project to build senior care homes with fee earning management 岸，正準備開發一個有示範性質長者護理及養老中心，並 services in La Viva Foshan is under preparation. In the shorter term, HCSSL is 發展相關長者護理收費服務。短期內，新藍寶安老生活探 studying collaboration opportunities to operate other aged care centres in the 索及研究於中國大陸及東南亞經營其他養老中心的合作 Mainland of China and Southeast Asia. Separately, Hsin Chong is in advanced 機會。另外，新昌正與著名法國水療營運商－薇姿集團進 stages of discussions with renowned French spa operator, Vichy Group, to form a 行前期洽談成立一間合資公司，以於佛山星悅南岸建立一 joint venture to build a high-end spa resort in La Viva Foshan which would include 間高級溫泉度假村，其中設有豪華酒店及復康中心。 a luxury hotel and a rehabilitation center. With its global network and development expertise, Hsin Chong’s International 憑藉新昌廣博的國際人脈關係及專業的開發經驗，本集團 Property and Hospitality Development Division aims to grasp further international 的國際地產及旅遊發展業務部門旨在把握進一步的國際 real estate development opportunities, widening the Group’s income base as well 房地產發展機會，拓展本集團的收入基礎以及使業務更富 as diversifying the business sectors. 多樣化。 Belt and Road Initiative 一帶一路機遇 Taking part in the construction of major infrastructure projects and witnessing the 透過參與大型基礎設施建造項目，新昌見證中國「一帶一 benefits they bring to communities, opportunities arising from the PRC’s “Belt 路」為社會帶來之裨益，我們亦從其戰略中覓得並把握商 and Road” strategy have been recognized and pursued internationally. 機。 This year, Hsin Chong marked an important milestone in its “Belt & Road” 年內，新昌與乍得共和國簽署諒解備忘錄，此乃其「一帶一 pursuits when it signed a Memorandum of Understanding with the Republic of 路」進程中的重要里程碑。我們非常榮幸獲邀協助乍得政 Chad. We are pleased to be invited to support Chad in its first five-year plan to 府實現其2030年遠景下建設基礎設施及公共設施的首個5 build infrastructure and public facilities under the country’s Vision 2030. This will 年規劃。是次合作標誌著本集團首次進軍非洲市場告捷。 herald the Group’s maiden foray into the African market. Thus, while our current significant projects are flourishing in Hong Kong 由此，除目前於香港及澳門的大型項目外，我們的建造管 and Macau, our construction management business continues to expand its 理業務地域覆蓋已進一步擴張至非洲及亞太地區國家。憑 geographical
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