CHARACTERISTICS OF GEM OF THE STOCK EXCHANGE OF HONG
KONG LIMITED (THE “STOCK EXCHANGE”)
GEM has been positioned as a market designed to accommodate
small and mid-sized companies to which a higher investment risk
may be attached than other companies listed on the Stock Exchange.
Prospective investors should be aware of the potential risks of investing
in such companies and should make the decision to invest only after
due and careful consideration.
Given that the companies listed on GEM are generally small and
midsized companies, there is a risk that securities traded on GEM may
be more susceptible to high market volatility than securities traded on
the Main Board and no assurance is given that there will be a liquid
market in the securities traded on GEM.
Hong Kong Exchanges and Clearing Limited and the Stock Exchange take no
responsibility for the contents of this report, make no representation as to its
accuracy or completeness and expressly disclaim any liability whatsoever for
any loss howsoever arising from or in reliance upon the whole or any part of
the contents of this report.
This report, for which the directors (the “Directors”) of New Western Group
Limited (the “Company”) collectively and individually accept full responsibility,
includes particulars given in compliance with the Rules Governing the Listing
of Securities on GEM of the Stock Exchange (the “GEM Listing Rules”) for
the purpose of giving information with regard to the Company. The Directors,
having made all reasonable enquiries, confirm that to the best of their
knowledge and belief the information contained in this report is accurate and
complete in all material respects and not misleading or deceptive, and there
are no other matters the omission of which would make any statement herein
or this report misleading.
香港聯合交易所有限公司（「聯交所」）GEM的特色
GEM的定位，乃為中小型公司提供一個上市的市
場，此等公司相比起其他在主板上市的公司帶有
較高投資風險。有意投資的人士應了解投資於該
等公司的潛在風險，並應經過審慎周詳的考慮後
方作出投資決定。
由於GEM上市公司普遍為中小型公司，在GEM買
賣的證券可能會較於主板買賣之證券承受較大的
市場波動風險，同時無法保證在GEM買賣的證券
會有高流通量的市場。
香港交易及結算所有限公司及聯交所對本報告的
內容概不負責，對其準確性或完整性亦不發表任
何聲明，並明確表示概不就因本報告全部或任何
部分內容而產生或因倚賴該等內容而引致的任何
損失承擔任何責任。
本報告的資料乃遵照聯交所GEM證券上市規則
（「GEM上市規則」）而刊載，旨在提供有關新威斯
頓集團有限公司（「本公司」）的資料；本公司的董
事（「董事」）願就本報告的資料共同及個別地承擔
全部責任。各董事在作出一切合理查詢後，確認
就其所知及所信，本報告所載資料在各重要方面
均屬準確完備，沒有誤導或欺詐成分，且並無遺
漏任何事項，足以令致本報告或其所載任何陳述
產生誤導。
1 New Western Group Limited Annual Report 2020
CONTENTS
目錄
Corporate Information 2 公司資料
Chairman’s Statement 5 主席報告書
Management Discussion and Analysis 7 管理層討論及分析
Corporate Governance Report 20 企業管治報告
Profiles of Directors and Senior Management 48 董事及高級管理人員的履歷
Directors’ Report 52 董事會報告
Independent Auditor’s Report 65 獨立核數師報告
Consolidated Statement of Profit or Loss
and Other Comprehensive Income
73 綜合損益及其他全面收益表
Consolidated Statement of Financial Position 74 綜合財務狀況表
Consolidated Statement of Changes in Equity 76 綜合權益變動表
Consolidated Statement of Cash Flows 77 綜合現金流量表
Notes to the Consolidated Financial Statements 79 綜合財務報表附註
Summary of Five Year Financial Information 183 五年財務資料概要
22020年報新威斯頓集團有限公司
CORPORATE INFORMATION
公司資料
BOARD OF DIRECTORS
Executive Directors
Mr. Zhang Qing (Chairman)
Mr. Gan Lin (Chief Executive Officer)
(appointed with effect from 22 January 2020)
Mr. Yu Kwan Tseung Alvin (Chief Financial Officer)
(appointed with effect from 11 December 2020)
Mr. Wong Kong (appointed with effect from 28 December 2020)
Independent Non-Executive Directors
Mr. Ng Wai Kee (appointed with effect from 12 March 2021)
Mr. Chiu Yu Wang
Mr. Cho Chi Kong (appointed with effect from 25 June 2021)
COMPANY SECRETARY
Ms. Chan Lok Yin
COMPLIANCE OFFICER
Mr. Yu Kwan Tseung Alvin (Chief Financial Officer)
(appointed with effect from 26 March 2021)
AUTHORISED REPRESENTATIVES
Mr. Gan Lin
Ms. Chan Lok Yin
AUDIT COMMITTEE
Mr. Ng Wai Kee (appointed with effect from 12 March 2021)
Mr. Chiu Yu Wang
Mr. Cho Chi Kong (appointed with effect from 25 June 2021)
REMUNERATION COMMITTEE
Mr. Ng Wai Kee (appointed with effect from 12 March 2021)
Mr. Chiu Yu Wang
Mr. Cho Chi Kong (appointed with effect from 25 June 2021)
董事會
執行董事
張慶先生（主席）
甘霖先生（行政總裁）
（於2020年1月22日獲委任）
俞君象先生（首席財務官）
（於2020年12月11日獲委任）
黃剛先生（於2020年12月28日獲委任）
獨立非執行董事
吳偉奇先生（於2021年3月12日獲委任）
趙汝宏先生
曹志光先生（於2021年6月25日獲委任）
公司秘書
陳樂燕女士
監察主任
俞君象先生（首席財務官）
（於2021年3月26日獲委任）
授權代表
甘霖先生
陳樂燕女士
審核委員會
吳偉奇先生（於2021年3月12日獲委任）
趙汝宏先生
曹志光先生（於2021年6月25日獲委任）
薪酬委員會
吳偉奇先生（於2021年3月12日獲委任）
趙汝宏先生
曹志光先生（於2021年6月25日獲委任）
3 New Western Group Limited Annual Report 2020
CORPORATE INFORMATION (Continued)
公司資料（續）
提名委員會
吳偉奇先生（於2021年3月12日獲委任）
趙汝宏先生
曹志光先生（於2021年6月25日獲委任）
核數師
長盈（香港）會計師事務所有限公司
法律顧問
范紀羅江律師行
註冊辦事處
One Nexus Way
Camana Bay, Grand Cayman
KY1-9005, Cayman Islands
總辦事處及主要營業地點
香港
灣仔
告士打道178號
華懋世紀廣場21樓2101室
NOMINATION COMMITTEE
Mr. Ng Wai Kee (appointed with effect from 12 March 2021)
Mr. Chiu Yu Wang
Mr. Cho Chi Kong (appointed with effect from 25 June 2021)
AUDITOR
McM (HK) CPA Limited
LEGAL ADVISOR
Fairbairn Catley Low & Kong
REGISTERED OFFICE
One Nexus Way
Camana Bay, Grand Cayman
KY1-9005, Cayman Islands
HEADQUARTER AND PRINCIPAL PLACE
OF BUSINESS
Suite 2101, 21/F, Chinachem Century Tower
178 Gloucester Road
Wan Chai
Hong Kong
42020年報新威斯頓集團有限公司
CORPORATE INFORMATION (Continued)
公司資料（續）
主要股份過戶登記處及
轉讓辦事處
Suntera (Cayman) Limited
Suite 3204, Unit 2A, Block 3, Building D
. Box 1586, Gardenia Court
Camana Bay, Grand Cayman
KY1-1100, Cayman Islands
香港股份過戶登記分處及
轉讓辦事處
卓佳證券登記有限公司
香港
皇后大道東183號合和中心54樓
股份代號
8242
公司網站
PRINCIPAL SHARE REGISTRAR AND
TRANSFER OFFICE
Suntera (Cayman) Limited
Suite 3204, Unit 2A, Block 3, Building D
. Box 1586, Gardenia Court
Camana Bay, Grand Cayman
KY1-1100, Cayman Islands
HONG KONG BRANCH SHARE REGISTRAR
AND TRANSFER OFFICE
Tricor Investor Services Limited
Level 54, Hopewell Centre, 183 Queen’s Road East
Hong Kong
STOCK CODE
8242
COMPANY WEBSITE
5 New Western Group Limited Annual Report 2020
CHAIRMAN’S STATEMENT
主席報告書
On behalf of the board of directors (the “Board”) of New Western Group
Limited (the “Company”), I hereby present the annual report of the Company
and its subsidiaries (collectively referred to as the “Group”) for the year ended
31 December 2020.
BUSINESS ENVIRONMENT AND
DEVELOPMENT
The uncertain economic and political environment of Hong Kong and around
the world under the influence of COVID-19 during the year will undoubtedly
continue to pose significant challenges to the variety industry. The foundation
property management industry remained highly competition in the year
due to the participation of a large number of active provider with parent
property construction companies in the market, resulting in pressure on
the overall bid price and impact on our gross profit margin. Although the
timing of the full recovery of the property management business market of
PRC is still uncertain, the Directors consider that with the Group’s business
presence and good market reputation, the Group is able to compete with its
competitors and cope with the future challenges that are commonly faced by
all industry players. The Group is looking for suitable investment opportunities
to diversify business and bring better investment return to the shareholders
of the Company. The Company continues to evaluate areas suitable for the
diversification of business with an aim to deliver sustainable returns to its
shareholders. Looking forward, the Company, as a listed company, will use
its resources to (I) adopt a more aggressive approach to deal with tender
invitations in property management business, if appropriate; (II) expand the
operation and revenue stream of business; and (III) explore the business
opportunities of charging piles for property management industry of China.
CORPORATE GOVERNANCE
The Board is committed to maintaining high standards of corporate
governance and all board committees have effectively supported the Board in
carrying out its responsibilities. The Board will persist to explore new business
opportunity to maximize the long term interest for the shareholders as a
whole.
本人謹代表新威斯頓集團有限公司（「本公司」）董
事會（「董事會」），呈報本公司及其附屬公司（統稱
「本集團」）截至2020年12月31日止年度的年報。
業務環境與發展
年內，香港及世界各地在COVID-19影響下產生不
明朗的經濟及政治環境，無疑將繼續對各行業構
成重大挑戰。由於市場上有大量活躍的有母公司
物業建築公司的供應商參與，基業管理行業在年
內仍保持高度競爭性，導致整體招標價格造成壓
力並影響我們的毛利率。儘管中國物業管理業務
市場全面復甦的時間尚不確定，但董事認為，憑
藉本集團的商業形象及良好的市場聲譽，本集團
能夠與競爭對手競爭，並應對所有行業參與者共
同面臨的未來挑戰。本集團正物色合適的投資機
會以使業務多元化及為本公司股東帶來更佳投資
回報。本公司繼續評估適合業務多元化的領域，
旨在為其股東帶來可持續回報。展望未來，本公
司作為一間上市公司，將利用其資源以(I)採取更
積極的方式應對物業管理業務之投標邀請（如適
用）；(II)擴大業務營運及收入來源；及(III)探索中國
物業管理行業的商機。
企業管治
董事會致力保持高水平的企業管治，並由各董事
會委員會有效協助董事會執行職務。董事會將致
力發掘商機，盡量提升股東整體的長期利益。
62020年報新威斯頓集團有限公司
CHAIRMAN’S STATEMENT (Continued)
主席報告書（續）
前景
中國市場的物業數量正在增加，公眾對住宅房屋
有所關注，以及近期房屋竣工問題加快，預期
解決人口住房及相關物業管理服務需求旺盛的問
題，並預計物業管理業務將同時擴展。
同時，我們將通過把握中國四川私人住宅業主實
施的持續外包物業管理，預期並繼續擴大我們的
管理組合。自2017年我們開始物業管理業務以
來，為客戶提供最佳服務一直是我們的首要任務。
多年來，我們已成長為四川知名物業管理公司之
一。憑藉我們的經驗及業務規模，我們將繼續尋
求機會，通過自我發展及╱或投資合適的目標╱
資產，及╱或通過與其他各方以合營企業的方式
合作，以擴展現有物業管理業務。為提高該分部
的盈利能力，我們認為成本控制與擴大管理組合
同樣重要。
我們正檢討物業管理業務的營運表現及將於下個
財政年度實施適當的成本控制（如需要）。本集團
於2020年曾錄得負增長收益，乃主要由於回顧年
度內在中華人民共和國（「中國」）市場提供物業管
理服務，錄得來自該分部的收益約14,968,000港
元（2019年：35,879,000港元）。
展望未來，本集團將致力發展物業管理業務。
感謝
走筆至此，本人謹代表董事會感謝股東、客戶和
業務夥伴一直以來對本集團從不間斷的信任和支
持，亦感謝董事會、管理團隊和每一位敬業樂業
的員工過去多年的辛勤工作和重大貢獻。
我們在2021年將並肩迎難而上，矢志再創高峰。
張慶先生
主席
香港，2021年7月21日
PROSPECTS
The number of property in PRC market is expanding. Public concerns over
residential housing and the speeding up of the issue of housing completion
in the near future are expected to solve the issue of heavy demand on
housing and if associated property management services for population.
It is envisaged that the property management business will expand
simultaneously.
Meanwhile, we will expect and continue to expand our management portfolio
by capturing the continuing outsourcing property management implemented
by private residential owners in Sichuan, PRC. Since we started property
management business in 2017, giving our customers the best services has
always been our first priority.
Over the years, we have grown into one of the well-known property
management companies in Sichuan. Leveraging on our experience and
scale of business, we will continue to seek for opportunities to expand the
current property management business through self-development and/or
investment(s) in suitable targets/assets, and/or through co-operation by way
of joint venture(s) with other parties. In order to increase the profitability of
this segment, we consider the cost control is as important as expanding the
management portfolio.
We are reviewing the operating performance of the property management
business and appropriate cost controls will be implemented in the
forthcoming financial year, if necessary. Even the Group has recorded
negative growth in its revenue in the year of 2020 which mainly attributable to
its property management services in People’s Republic of China (the “PRC”)
markets during the year under review and recorded revenue of approximately
HK$14,968,000 (2019: HK$35,879,000) from this segment.
Looking into the future, our Group is committed to the development of
property management business.
APPRECIATION
On behalf of the Board, I would like to close by thanking our shareholders,
customers and business partners for their continued confidence and
support, our board of directors, management team and every member of
the dedicated staff for their hard work and significant contribution in the past
years.
Let’s all emerge stronger in 2021.
Mr. Zhang Qing
Chairman
Hong Kong, 21 July 2021
7 New Western Group Limited Annual Report 2020
MANAGEMENT DISCUSSION AND ANALYSIS
管理層討論及分析
During the year ended 31 December 2020, the principal activities of the
Group are: (1) the provision of IC solutions and the design, development and
sales of ICs; (2) money lending business in Hong Kong through the provision
of unsecured and secured loans to customers, including individuals and
corporations under the provisions of the Money Lenders Ordinance (Chapter
163 of the Laws of Hong Kong); and (3) the provision of investment and
planning consulting service, real estate agent, property management services
and car parking management services in the PRC.
BUSINESS REVIEW
Continuing Operations
IC Business
The Group sells IC under its own brand name “MiniLogic” and provides
application specific IC service (the “ASIC Service”) in the design and
development of tailor-made IC to its customers. The Group also provides
tailor-made IC solutions and sells tailor-made ICs to customers under the
ASIC Service business section (the “ASIC Section”); and independently
develops and sells generically-applicable ICs for sale in the market under the
MiniLogic Brand IC business section (the “Standard IC Section”).
Over the past year, the research and development (the “R&D”) team had
absence of new completion.
The R&D team terminated 7 IC models during the year. As at 31 December
2020, the Group had absence of new IC models under development and
customer evaluation. The completion of the development of several new IC
models has been extended as the process was prolonged due to customer
evaluation, acceptance and modification work. Developing IC products with
suitable technology that appeal to the market is essential for the growth of IC
business. This can also expand the range of the IC products and maintain the
competitiveness of the Group.
ASIC Section
Under the ASIC Section, the major products are DVD Player ICs, Power
Management ICs and Electronic Cigarette ICs. In absence of new IC models
were launched in 2020. Due to the stagnant demand in the IC industry,
revenue and margin from DVD Player ICs, Power Management ICs and
Electronic Cigarettes ICs decreased when compared to the same period
last year. Revenue from the ASIC products decreased from approximately
HK$ million for the year of 2019 to approximately HK$ million for the
year of 2020.
於截至2020年12月31日止年度，本集團主要活動
為：(1)提供集成電路的解決方案，並從事集成電
路的設計、開發及銷售；(2)根據放債人條例（香港
法例第163章）於香港從事放債業務，向客戶，包
括個人及公司，提供無抵押及有抵押貸款；及(3)
於中國提供投資及策劃諮詢服務、房地產經紀、
物業管理服務及停車場管理服務。
業務回顧
持續經營業務
集成電路業務
本集團以「MiniLogic」自主品牌銷售集成電路並向
其客戶提供設計和開發度身訂造集成電路的特定
用途集成電路服務（「ASIC服務」）。本集團亦提供
度身訂造的集成電路解決方案以及向ASIC服務業
務分部（「ASIC分部」）的客戶銷售度身訂造的集成
電路；另外，在MiniLogic品牌集成電路業務分部
（「標準集成電路分部」）獨立開發及銷售普遍適用
的集成電路以在市場銷售。
過去一年，研究及開發（「研發」）團隊並無新完成
成果。
年內，研發團隊終止7個集成電路型號。於2020
年12月31日，本集團並無新集成電路型號正在
開發中並接受客戶評估。由於開發過程因客戶評
估、驗收及修改工作而有所延長，數個新集成電
路型號之開發工作亦因而延遲完成。以合適技術
開發吸引市場的集成電路產品對集成電路業務增
長尤為重要，而這亦有助增加集成電路產品種類
及保持本集團的競爭力。
ASIC分部
ASIC分部之主要產品為DVD播放器集成電路、電
源管理集成電路及電子煙集成電路。並無新型號
集成電路於2020年推出。由於集成電路行業的需
求停滯不前，DVD播放器集成電路、電源管理集
成電路及電子煙集成電路的收益及利潤率均較去
年同期下跌。ASIC產品的收益由2019年的約
百萬港元下跌至2020年的約百萬港元。
82020年報新威斯頓集團有限公司
MANAGEMENT DISCUSSION AND ANALYSIS (Continued)
管理層討論及分析（續）
同時，提供ASIC服務所得的收益由2019年的約
百萬港元大幅下跌至2020年的約百萬港
元。由於ASIC產品（尤其是DVD播放器集成電路、
電源管理集成電路及電子煙集成電路）帶來的收
益有所下跌，ASIC分部的整體收益由2019年的約
百萬港元下跌84%至2020年的約百萬港元。
標準集成電路分部
標準集成電路分部項下之主要產品為供儀器板使
用的LCD驅動器集成電路及電源管理集成電路。
2020年並無推出新型號集成電路，標準集成電路
分部的整體收益由2019年的約百萬港元減少
66%至2020年的約百萬港元。
放債業務
本集團從事放債業務，例如向客戶（包括個人及公
司）提供有抵押及無抵押貸款以賺取利息收入。
2020年的放債業務收益約為百萬港元，佔本
集團年度收益總額的%。其較2019年的約
百萬港元減少約百萬港元或%。於
2020年12月31日的未償還應收貸款本金金額約為
百萬港元。收益輕微減少主要由於放債業務
的平均利率下降。貸款及應收利息結餘（未計應收
貸款減值虧損前）較2019年的約百萬港元增
加約%至2020年的約百萬港元。
應收貸款減值虧損
本集團的減值虧損主要與應收貸款的預期信貸虧
損撥備有關。
於2020年，本集團錄得應收貸款減值虧損約
百萬港元，而2019年為百萬港元。應收貸款
減值虧損大幅增加主要由於有減值跡象的應收貸
款增加。
於中國之物業管理業務
本集團自2017年1月起進軍中國物業管理行業，
並向物業發展商及業主提供廣泛物業管理服務。
At the same time, revenue from the provision of ASIC Service decreased
significantly from approximately HK$ million in 2019 to approximately
HK$ million in 2020. Due to the decrease in revenue from the ASIC
products, particularly in DVD Player ICs, Power Management ICs and
Electronic Cigarettes ICs, the overall revenue from the ASIC Section dropped
by 84% from approximately HK$ million in 2019 to approximately HK$
million in 2020.
Standard IC Section
Under the Standard IC Section, the major products are LCD Driver ICs for
instrument panel and Power Management ICs. In absence of new IC model
was launched in the year of 2020, the overall revenue from the Standard IC
Section decreased by 66% from approximately HK$ million in 2019 to
approximately HK$ million in 2020.
Money Lending Business
The Group engages in the money lending business, such as providing
secured and unsecured loans to customers comprising individuals and
corporations to earn interest income. The revenue from the money lending
business for the year 2020 was approximately HK$ million, which
accounted for % of the Group’s total revenue for the year. There was a
decrease of approximately HK$ million or % as compared to that of
approximately HK$ million for the year 2019. The outstanding principal
amount of loan receivables as at 31 December 2020 was approximately
HK$ million. The slightly decrease in revenue was mainly attributable to
the decrease in average interest rate in the money lending business. While
the loans and interest receivables balance (before impairment loss on loan
receivables) increased by approximately % to approximately HK$
million for the year 2020 as compared to approximately HK$ million for
the year 2019.
Impairment Loss on Loan Receivables
The Group’s impairment loss mainly relates to expected credit loss allowance
for loan receivables.
For the year of 2020, the Group recorded an impairment loss on loan
receivables of approximately HK$ million as compared to HK$ million
for 2019. The significant increase in impairment loss on loan receivables is
principally due to an increase in loan receivables which have indication of
impairment.
Property Management Business in the PRC
The Group has entered into the property management industry in the PRC
since January 2017 and provides a broad range of property management
services to property developers and property owners.
9 New Western Group Limited Annual Report 2020
MANAGEMENT DISCUSSION AND ANALYSIS (Continued)
管理層討論及分析（續）
物業管理服務
此業務部門的收益透過向業主及住戶提供物業管
理服務而產生，如交付前服務、協助入伙服務、
保安、清潔、園藝、維修及保養。此分部的收益
由2019年的約百萬港元減少%至2020年
的約百萬港元。
於2020年12月31日，本集團已管理住宅及非住宅
物業，總訂約建築面積（「建築面積」）分別為約0平
方米及100,983平方米。相比起來，於2019年12
月31日，本集團已管理住宅及非住宅物業，總訂
約建築面積分別為約57,000平方米及155,000平方
米。總訂約建築面積指計算收益建築面積、未交
付建築面積及公共空間建築面積的總和。
計算收益建築面積指物業管理費於物業交付或準
備交付後開始收取的已訂約建築面積。物業發展
商會於物業交付或準備交付後（此乃於交付通知交
予首批業主時發生）就待售單位支付物業管理費，
直至該等單位售出為止。
未交付建築面積指因相關物業尚未準備交付而未
有開始收取物業管理費的已訂約建築面積。
公共空間建築面積包括小徑、花園、停車位及廣
告宣傳板。
房地產經紀服務
物業管理團隊就中國的商業及住宅樓宇提供物業
管理及房地產經紀服務。此分部的收益由2019年
的約百萬港元減少百萬港元至2020年的約
百萬港元。
物業諮詢服務
物業管理團隊亦向其他物業管理公司提供物業管
理諮詢服務，如標準化運作、成本控制及諮詢。
此分部的收益由2019年的約百萬港元減少
百萬港元至2020年的約百萬港元。
Property Management Services
The revenue of this business segment is generated through provision of
property management services to property owners and residents such
as predelivery services, move-in assistance services, security, cleaning,
gardening, repair and maintenance. The revenue of this segment decreased
by % from approximately HK$ million in 2019 to approximately
HK$ million in 2020.
As at 31 December 2020, the Group managed residential and non-
residential properties with an aggregate contracted gross floor area (“GFA”)
of approximately 0 square meter and 100,983 square meters respectively. By
comparison, as at 31 December 2019, the Group managed residential and
non-residential properties with an aggregate contracted GFA of approximately
57,000 square meters and 155,000 square meters respectively. The total
contracted GFA means the sum of revenue-bearing GFA, undelivered GFA
and common area GFA.
Revenue-bearing GFA represented contracted GFA in relation to which the
collection of property management fees has started when a property has
been delivered or is ready to be delivered. For properties that have been
delivered or are ready to be delivered after delivery notices have been given
to the first group of property owners in such properties, property developers
would pay property management fees on unsold units until such units are
sold.
Undelivered GFA means contracted GFA in relation to which the collection of
property management fees has not started because the relevant property is
not ready to be delivered.
Common area GFA includes pathways, garden, parking lots, and
advertisement bulletin boards.
Property Real Estate Agency Services
The property management team provides property management and real
estate agency services in respect of commercial and residential buildings in
the PRC. The revenue of this segment decreased by HK$ million from
approximately HK$ million in 2019 to approximately HK$ million in
2020.
Property Consulting Services
The property management team also provides property management
consultancy services to other property management companies such as
standardised operation, cost control and consultation. The revenue of this
segment decreased by HK$ million from approximately HK$ million in
2019 to approximately HK$ million in 2020.
102020年報新威斯頓集團有限公司
MANAGEMENT DISCUSSION AND ANALYSIS (Continued)
管理層討論及分析（續）
重大投資
重大投資分類為計入損益的金融資產。
計入損益的重大金融資產之詳情：
Significant investments
Significant investments were classified as financial assets through profit or
loss.
Details of significant financial assets through profit or loss:
At 31/12/2020
於2020年
12月31日
Fair value Shareholdings
Investment
costs Principal business
Size to total
assets
公平值 所持股權 投資成本 主要業務 佔總資產規模
HK$’000 % HK$’000 %
千港元 百分比 千港元 百分比
SMA Pacific Limited Unlisted 6,075 % 17,612 Investment holding company %
SMA Pacific Limited 非上市 投資控股公司
Total 6,075 17,612 %
總計
Equity interest in SMA Pacific Limited was acquired during the year ended 31
December 2020.
Particulars of significant financial assets through profit or loss
i) SMA Pacific Limited
On 25 March 2020, Excellence Steps Limited, a wholly-owned
subsidiary of the Group, entered into a sale and purchase agreement
with Mr. Chu Hin Mingi Alfonso for the acquisition (“Acquisition”)
of 45% equity interest in SMA Pacific Limited (“SMA Pacific”). The
Acquisition was completed on 7 April 2020, upon which SMA Pacific
is accounted for as an associate of the Group. SMA Pacific holds
100% equity interest in Silva Max AP Industry SDN. BHD, which is a
property holding company incorporated in Malaysia with limited liability
and its principal assets are six service apartments units (“Properties”)
with an aggregate gross floor area of 12,000 sq. ft. in Block 2B of the
development project known as “MM Residency”, which is located at
the north-eastern side of Jalan Melawati 1 near its junction with Jalan
G 1, Melawati, Kuala Lumpur, Malaysia. MM Residency comprises one
block of service apartment and two blocks of SOHO with a total of 420
units to be erected over an 8-storey carpark and commercial podium
and was initially expected to be completed by third quarter of 2021. The
initial investment cost was HK$17,613,000. For details, please refer to
the announcements of the Company dated 25 March 2020 and 7 April
2020. As at 31 December 2020, the development of the Properties
has not been completed due to the social restrictions imposed by the
COVID-19 pandemic.
截至2020年12月31日止年度，於SMA Pacific
Limited的股權已獲收購。
計入損益的重大金融資產之詳情
i) SMA Pacific Limited
於2020年3月25日，本集團的全資附屬公
司Excellence Steps Limited與朱顯明先生訂
立買賣協議，以收購於SMA Pacific Limited
（「SMA Pacific」）的45%股權（「收購」）。收購
已於2020年4月7日完成，屆時SMA Pacific
被列為本集團的聯營公司。SMA Pacific
Limited 持 有 Silva Max AP Industry SDN 的
100%股權，該公司為一家在馬來西亞註冊
成立的房地產控股有限公司，其主要資產
是位於名為「MM Residency」的發展項目中
2B座的六個服務式公寓單位（「物業」），總
建築面積為12,000平方英尺，其位於Jalan
Melawati 1的東北側鄰近Jalan G 1, Melawati,
Kuala Lumpur, Malaysia 的 交 界 處 。 MM
Residency由一座服務式公寓及兩座SOHO
組成，共有420個單位，將豎立於8層停車位
及購物商場上，並預期將於2021年第三季度
前竣工。初始投資成本為17,613,000港元。
詳情請參閱本公司日期為2020年3月25日
及2020年4月7日的公告。於2020年12月31
日，由於COVID-19疫情施加的社會限制，
該物業的開發尚未完成。
11 New Western Group Limited Annual Report 2020
MANAGEMENT DISCUSSION AND ANALYSIS (Continued)
管理層討論及分析（續）
除上述披露外，本集團於截至 2020 年 12 月 31
日止年度並無持有任何重大投資（2019 年：無）。
訴訟
於2020年12月31日，本集團無重大訴訟（2019
年：無）。
財務回顧
以下是主要財務指標的分析，其中包括但不限於
收益、銷售及服務成本、毛利、商譽、應收貸
款、物業、廠房及設備以及使用權資產減值虧
損，按公平值計入損益的金融資產的公平值變
動，和成本收入比率，反映了業務的財務狀況。
收益、銷售及服務成本及毛利
本集團來自持續經營業務的總收益由2019年的約
百萬港元減少60%至2020年的約百萬港
元。收益減少主要由於(i)因集成電路行業規模縮小
導致集成電路業務收益減少約百萬港元；(ii)因
物業諮詢服務需求減少導致物業諮詢服務收益減
少約百萬港元；及(iii)由於年內兩項本金總額
為百萬港元的貸款被分類為信貸減值，放債
業務的收入減少約百萬港元。因此，利息按
淨額而非總額計算。
本集團的銷售及服務成本主要自集成電路業務及
物業管理業務產生，由2019年的約百萬港元
至2020年的約百萬港元。
本集團的毛利率佔收益的百分比由截至2019年12
月31日止年度的%降至截至2020年12月31日
止年度的%。本集團於截至2020年12月31日
止年度的毛利約為百萬港元，較於2019年錄
得的約百萬港元有所下跌。
Save as disclosed above, the Group has not held any significant investment
for the year ended 31 December 2020 (2019: Nil).
Litigation
As at 31 December 2020, the Group had no material litigation (2019: Nil).
FINANCIAL REVIEW
Below is an analysis of the key financial indicators including, but not limited
to revenue, cost of sales and services, gross profit, impairment losses on
goodwill, loan receivables, property, plant and equipment, and right-of-use
assets, change in fair value of financial assets at fair value through profit or
loss, and cost to income ratio, which reflected the financial position of the
business.
Revenue, Cost of Sales and Services and Gross
Profit
The total revenue of the Group from continuing operations decreased by 60%
from approximately HK$ million in 2019 to approximately HK$ million
in 2020. The decrease in revenue was mainly attributed to the net effect of (i)
a decrease in revenue from the IC business of approximately HK$ million as
a consequence of the shrinkage in the scale of IC industry; (ii) a decrease in
revenue of approximately HK$ million from property consulting services
as a result of decrease in demand of property consulting services; and (iii) a
decrease in revenue of approximately HK$ million from the money lending
business as a result of two loans with total principal value of HK$ million
being classified as credit-impaired during the year. Accordingly, interest was
calculated based on the net amount instead of gross amount.
Cost of sales and services of the Group mainly incurred from the IC business
and the property management business amounting to approximately
HK$ million in 2019 to approximately HK$ million in 2020.
The Group’s gross profit margin as a percentage of revenue decreased
% for the year ended 31 December 2019 to % for the year ended 31
December 2020. The Group’s gross profit for the year ended 31 December
2020 was approximately HK$ million, down from approximately HK$
million recorded in 2019.
122020年報新威斯頓集團有限公司
MANAGEMENT DISCUSSION AND ANALYSIS (Continued)
管理層討論及分析（續）
商譽減值虧損
與通過於2017年在物業管理分部進行業務合併的
收購有關的商譽已分配至中國物業管理業務，並
須進行年度減值測試。
截至2020年及2019年12月31日止年度，減值測試
中使用的關鍵數據及假設的詳情如下：
關鍵數據╱假設
Impairment losses on goodwill
Goodwill in relation to the acquisition through business combination in
the property management segment incurred in 2017 which is allocated
to property management business in the PRC and is subject to annual
impairment test.
Details of the key inputs and assumptions used in the impairment test for the
years ended 31 December 2020 and 2019 are as follows:
Key inputs/assumptions
2020 2019
2020年 2019年
HK$’000 HK$’000
千港元 千港元
Recoverable amount 可收回金額 60,503 188,003
Recoverable amount (taking into account sensitivity
analysis)
可收回金額（經考慮敏感度分析）
56,448 175,402
Discount rate 貼現率 % %
Long-term growth rate 長期增長率 % %
During the year ended 31 December 2020, three projects in relation to
property management services in PRC were no longer renewed with
each of the counter parties, resulting in a significant decrease in revenue.
Additionally, one of the customer’s of the property management business
in the PRC suffered delays in developing its commercial building, which the
Group expects to be contracted to provide property management services
subsequent to the development, as a result of COVID-19. Thus, projected
revenue arising from this customer was delayed until 2022, along with the
termination of the existing projects, resulted in a decrease in the recoverable
amount of the property management CGU.
Impairment losses on loans receivables
Impairment on loan receivables increased from approximately HK$ million
in 2019 to HK$ million in 2020. During the year ended 31 December
2020, the Group observed certain customers, with a total gross outstanding
amount as at 31 December 2020 of approximately HK$ million, had
encountered difficulties in repayment of principal and interest as a result of
the negative consequences brought upon by COVID-19. Thus, a significant
increase in credit risk was observed on these customers, resulting in a higher
probability of default being used against these customers. Additionally, one
of the customers with a total gross outstanding amount of approximately
HK$ million had a winding-up petition against the customer (the
“Customer”). The Group is in view of the likelihood of recovery on the
outstanding abouts from the Customer is very low and fully provided the
outstanding balance during the year ended 31 December 2020.
於截至2020年12月31日止年度，三個與中國物業
管理服務相關的項目不再與各對手續訂，導致收
入大幅減少。此外，由於COVID-19的影響，中國
物業管理業務的一名客戶在開發其商業大廈方面
出現延誤，本集團預計該商業建築將在開發後簽
訂合同以提供物業管理服務。因此，來自該客戶
的預計收入被推遲至2022年，以及現有項目的終
止，導致物業管理現金產生單位的可收回金額減
少。
應收貸款減值虧損
應收貸款減值由2019年約百萬港元增加至
2020年百萬港元。於截至2020年12月31日
止年度，本集團觀察到若干客戶（於2020年12
月31日的未償還總額約為百萬港元）由於
COVID-19帶來的負面後果，在償還本金及利息方
面遇到困難。因此，該等客戶的信貸風險顯著增
加，導致該等客戶違約概率增加。此外，其中未
償還總額約為百萬港元的客戶已向客戶（「客
戶」）提出清盤呈請。本集團鑑於向該客戶收回未
償還款項的可能性極低，並已於截至2020年12月
31日止年度全額撥備未償還餘額。
13 New Western Group Limited Annual Report 2020
MANAGEMENT DISCUSSION AND ANALYSIS (Continued)
管理層討論及分析（續）
物業、廠房及設備以及使用權資產減
值虧損
於截至2020年12月31日止年度，本集團錄得重大
虧損，並有減值跡象。有關物業、廠房及設備以
及使用權資產減值評估的詳情，請參閱綜合財務
報表附註16及17。
按公平值計入損益的金融資產的公平
值虧損
於2020年3月25日，本集團直接全資附屬公司訂
立買賣協議，以收購一間於香港註冊成立的公司
（「目標公司」）的45%股權，目標公司間接持有名
為MM Residency在馬來西亞的發展項目中的六
個服務式公寓單位，總建築面積為12,000平方英
尺。收購於2020年4月7日完成。
本集團將目標公司計入為按公平值計入損益的金
融資產，乃由於其不符合攤銷成本及按公平值計
入其他全面收入的金融資產的條件。此外，本集
團並無持有任何於目標公司的董事會職位，並無
參與任何政策決定過程，與目標公司並無任何管
理人員往來，亦未向目標公司提供任何必要的技
術信息。因此，本集團並未對目標公司施加重
大影響（定義見香港會計準則第28號聯營公司投
資），因此，根據香港會計準則第 28 號投資目標
公司不被視為本集團的聯營公司。
有關分類為以公平值計量且其變動計入損益的金
融資產的45%股權的公平值變動詳情，請參閱綜
合財務報表附註19及本公司日期為2021年4月29
日之公告。
行政開支及財務費用
本集團行政開支由2019年約百萬港元減少
34%至2020年約百萬港元。行政開支減少主
要由於(i)員工成本自2019年約百萬港元減少
至2020年約百萬港元，此乃由於本集團員工
人數減少；及(ii)使用權資產及物業、廠房及設備
的折舊從2019年的約百萬港元減少至2020年
的約百萬港元，因為使用權資產於截至2020年
12月31日止年度終止。
本集團於2020年的財務費用主要包括香港財務報
告準則第16號生效後帶來的租賃負債利息。財務
費用由2019年的約百萬港元減少至2020年的
約百萬港元。
Impairment losses on property, plant and equipment
and right-of-use assets
During the year ended 31 December 2020, the Group experienced significant
losses and an impairment indication was noted. For details on the impairment
assessment on property, plant and equipment and right-of-use assets, please
refer to notes 16 and 17 to the consolidated financial statements.
Fair value loss on financial asset at fair value through
profit or loss
On 25 March 2020, a direct wholly-owned subsidiary of the Group, entered
into a sale and purchase agreement to acquire 45% equity interest of a Hong
Kong incorporated company (the “Target Company”) which indirectly holds
six service apartment units with an aggregate gross floor area of 12,000
square feet of a development project known as MM Residency in Malaysia.
The acquisition was completed on 7 April 2020.
The Groups accounts for the Target Company as financial assets at fair value
through profit or loss as it does not satisfy the criteria for amortised cost and
financial asset at fair value through other comprehensive income. Additionally,
the Group does not hold any spot in the board of directors of the Target
Company, does not participate in any policy making processes, have not
had any interchange of managerial personnel with the Target Company and
does not provide any essential technical information to the Target Company.
Accordingly, the Group does not exert significant influence, as defined under
HKAS 28 Investments in Associates, over the Target Company and thus, the
Target Company is not considered an associate of the Group under HKAS 28
Investments.
For details of the changes in fair value of the 45% equity interest, classified
as financial asset at fair value through profit or loss, please refer to note 19 to
the consolidated financial statements and the announcement of the Company
dated 29 April 2021.
Administrative Expenses and Finance Cost
Administrative expenses of the Group decreased by 34% from approximately
HK$ million in 2019 to approximately HK$ million in 2020. The
decrease in administrative expenses were mainly attributed to the combined
effect of (i) a decrease in staff costs from approximately HK$ million in
2019 to approximately HK$ million in 2020, as a result of a decrease in
number of staff of the Group; and (ii) decrease in depreciation on right-of-use
assets and property, plant and equipment from approximately HK$ million
in 2019 to approximately HK$ million in 2020, as a right-of-use asset was
terminated during the year ended 31 December 2020.
The finance costs of the Group for the year 2020 mainly comprise interest on
the lease liabilities after the coming into effect of HKFRS 16. Finance costs
decreased from approximately HK$ million in 2019 to approximately
HK$ million in 2020.
142020年報新威斯頓集團有限公司
MANAGEMENT DISCUSSION AND ANALYSIS (Continued)
管理層討論及分析（續）
本公司擁有人應佔虧損
於2020年，本公司擁有人應佔綜合虧損約為
百萬港元，較於2019年錄得的本公司擁有
應佔綜合虧損約百萬港元有所下跌。該下跌
乃主要歸因於(i)商譽減值虧損約百萬港元；及
(ii)應收貸款減值虧損約百萬港元，詳情於上
文進一步說明。
主要風險及不明朗因素
管理層認為營運涉及若干風險及不明朗因素，其
中有一部分乃本集團無法控制。管理層認為與本
集團業務相關的較重大風險如下：
可能無法按計劃擴大物業組合
分別截至2020年及2019年12月31日止年度，本
公司管理項下物業的總建築面積減少。本公司主
要通過投標及自獨立物業發展商及其他業主獲得
委聘新物業管理業務來擴大其管理項下的物業組
合。本公司仍尋求擴大管理項下的物業組合。然
而，無法保證本公司可以按計劃擴大管理項下的
物業組合，其可能會對本集團的業務、財務表現
及經營業績造成重大不利影響。本公司的增長可
能受其無法控制的各種因素影響，例如中國整體
經濟狀況、房地產市場的發展、與本集團經營相
關的法律及法規的任何變動及其為增長而獲取足
夠融資的能力。此外，本公司的增長能力亦取決
於其能否成功聘用、培訓及保留僱員，管理本公
司與其客戶、分包商及其他供應商的關係。
本公司拓展至新市場或地點時，對當地物業管理
服務市場的認識可能有限，其可能與本公司於成
都省已建立的市場存在重大差異。此外，本公司
可能無法如其於成都省已建立的市場般，與當地
分包商及其他供應商建立關係或連繫。本公司亦
可能無法於新市場發揮品牌優勢，並可能面臨來
自當地物業管理公司的激烈競爭。
Loss Attributable to Owners of the Company
The consolidated loss attributable to owners of the Company for the year
2020 was approximately HK$ million, down from the consolidated
loss attributable to owners of the Company approximately HK$ million
recorded in 2019. The decrease was mainly attributable to (i) impairment
losses on goodwill of approximately HK$ million; and (ii) impairment
losses on loan receivables of approximately HK$ million, details of which
are further explained in the above.
PRINCIPAL RISKS AND UNCERTAINTIES
The management believes that there are certain risks and uncertainties
involved in the operations, some of which are beyond the Group’s control.
The management believes that the more significant risks relating to the
Group’s business are as follows:
May not be able to grow the Portfolio of Properties as
planned
The Company’s GFA for properties under management decreased for the
year ended 31 December 2020 and 2019 respectively. The Company have
been expanding its portfolio of properties under management primarily
through tender and new property management engagements from
independent property developers and other property owners. The Company
seeks to continue to grow its portfolio of properties under management.
However, there is no assurance that the Company can grow its portfolio of
properties under management as planned, in such case that may have a
material adverse effect on the Group’s business, financial performance and
results of operations. The Company’s growth may be affected by various
factors beyond its control, such as China’s general economic condition,
developments in the real estate market, any change in laws and regulation
for the Group’s operation and its ability to obtain sufficient financing for its
growth. In addition, the Company’s ability to grow also depends on the
Company’s ability to successfully hire, train and retain its employees, manage
its relationships with the Company’s customers, subcontractors and other
suppliers.
In circumstances where the Company expand into a new market or location,
the Company may have limited knowledge of the local property management
service market, which could be substantially different from those in the
Company’s established market in Chengdu Province. In addition, the
Company may not have established relationships or connections with local
subcontractors and other suppliers as it does in its established market in
Chengdu Province. The Company may also be unable to leverage its brand
equity in a new market and may face intense competition from the local
property management companies.
15 New Western Group Limited Annual Report 2020
MANAGEMENT DISCUSSION AND ANALYSIS (Continued)
管理層討論及分析（續）
Except for above, the Group’s financial position, results of operations and
business prospects may be affected by a number of risks and uncertainties
directly and indirectly pertaining to the Group’s business. The following are
the key risks and uncertainties identified by the Group:
(i) The Group’s past revenue and profit margin may not be indicative of the
Group’s future revenue and profit margin;
(ii) The Group determined the property management project tender price
based on estimated time and costs involved in a project, which may
deviate from actual time and cost incurred. Inaccurate estimation may
adversely affect the Group’s financial results;
(iii) The Group’s business operations depend on the expertise and
continuing performance of the key management personnel and there is
no assurance that the Group can hire and retain them;
(iv) Failure to tender in suitable projects may adversely affect the Group’s
market competitiveness;
(v) As the Group from time to time engages third party subcontractors,
the Group may bear responsibilities for any nonperformance, delayed
performance, sub-standard performance or non-compliance of the
subcontractors; and
(vi) The Group is exposed to possible environmental liability.
Adverse weather conditions, natural disasters, potential wars, terrorist
attacks, riots and other disasters which are beyond the Group’s control may
reduce the number of workdays and may incur additional operational costs.
Foreign Currency Exposure Risks
The Group mainly operates in PRC and HK with most of the transactions
settled in PRC dollars with a small extent in other foreign currencies. As such,
the Group did not have a significant exposure to foreign exchange risk. The
Group currently does not have a foreign currency hedging policy.
Treasury Policies
The management will continue to follow a prudent policy in managing
the Group’s cash balances and maintain a strong and healthy liquidity to
ensure that the Group is well placed to take advantage of future growth
opportunities.
除上述者外，本集團財務狀況、經營業績及業務
前景可能直接及間接受多項涉及本集團業務風險
及不確定因素影響。以下為本集團識別之主要風
險及不確定因素：
(i) 本集團過去的收益及利潤率可能並不代表本
集團未來的收益及利潤率；
(ii) 本集團根據項目所涉及的預計時間及成本釐
定物業管理項目投標價格，該價格可能與實
際產生的時間及成本存在偏差。不準確估計
可能會對本集團的財務業績產生不利影響；
(iii) 本集團的業務營運取決於主要管理人員的專
業知識及持續表現，且無法保證本集團能夠
聘用並挽留他們；
(iv) 未能投標合適的項目可能會對本集團的市場
競爭力產生不利影響；
(v) 由於本集團不時聘請第三方分包商，本集團
可能對分包商的任何不履行、延遲履行、不
合標準履行或不合規而承擔責任；及
(vi) 本集團面臨可能的環境責任。
惡劣天氣狀況、自然災害、潛在的戰爭、恐怖襲
擊、暴動及其他超出本集團控制範圍之災難或會
導致工作日數減少，並可能產生額外的營運成本。
外幣風險
本集團主要在中國及香港營運，大部分交易以人
民幣結算，少數以其他外幣結算。 因此，本集團
並無重大外匯風險。本集團現時並無外幣對沖政
策。
庫務政策
管理層將繼續遵循審慎政策管理本集團的現金結
餘，並保持強勁而健康的流動性，以確保本集團
能夠充分利用未來的增長機會。
162020年報新威斯頓集團有限公司
MANAGEMENT DISCUSSION AND ANALYSIS (Continued)
管理層討論及分析（續）
資本結構
本 公 司 於 2020 年 4 月 7 日 完 成 發 行 新 的
279,556,480股代價股份，本公司已發行普通股數
量由1,397,782,400股增加至1,677,338,880股。
此後，公司資本結構未發生變化。本集團的資本
結構包括已發行股本及儲備。
流動資金及財務資源
於2020年12月31日，本集團的銀行及現金結餘
約為百萬港元（2019年12月31日：約百萬
港元）及並無任何借款、銀行融資或任何貸款安
排。於2020年12月31日，本集團的流動比率為
1,283%（2019年12月31日：1,829%），反映本集
團的流動性維持健康。於2020年12月31日，本集
團的資產負債比率（即總計息債務對總資產的比
率）為（2019年12月31日：）。本集團的
財務狀況健康，讓本集團能夠擴充其核心業務並
達成其業務目標。
資產抵押
於2020年12月31日，本集團並無任何資產抵押
（2019年12月31日：無）。
外匯風險
本集團的交易主要以美元、港元及人民幣計值。
因此，本集團承受外匯風險。本集團現時並無
實行任何外幣對沖政策。董事認為本集團的經營
現金流量及流動資金毋須承受重大匯率風險，因
此，於2020年度並無作出對沖安排。然而，本集
團將按業務發展需要不時審視及監察有關外匯風
險，並可能適時訂立外匯對沖安排。
CAPITAL STRUCTURE
The Company’s issued new 279,556,480 consideration Shares which
completed on 7 April 2020, the number of issued ordinary shares of the
Company increased from 1,397,782,400 shares to 1,677,338,880 shares.
There has been no change in the Company’s capital structure since then. The
capital structure of the Group comprises of issued share capital and reserves.
LIQUIDITY AND FINANCIAL RESOURCES
As at 31 December 2020, the Group had bank and cash balances of
approximately HK$ million (31 December 2019: approximately HK$
million) and did not have any borrowings, banking facilities or any loan
arrangement. The current ratio of the Group as at 31 December 2020 was
1,283% (31 December 2019: 1,829%), reflecting the fact that the liquidity
of the Group remained healthy. The gearing ratio calculated as the ratio of
total interest-bearing debt to total asset was as at 31 December 2020
(31 December 31 December 2019: ). The Group’s financial position is
healthy, and that enables the Group to expand its core business and achieve
its business objectives.
CHARGES ON ASSETS
As at 31 December 2020, the Group did not have any charges on its assets
(31 December 2019: Nil).
FOREIGN EXCHANGE EXPOSURE
The Group’s transactions are mainly denominated in United States dollars,
Hong Kong dollars and Renminbi. Therefore, the Group is exposed to
foreign currency exchange risk. The Group has not implemented any foreign
currency hedging policy at the moment. The Directors are of the view that
the Group’s operating cash flow and liquidity are not subject to significant
foreign exchange rate risks and therefore, no hedging arrangements were
made during the year of 2020. However, the Group will review and monitor
the relevant foreign exchange risk from time to time based on its business
development requirements and may enter into foreign exchange hedging
arrangements when applicable.
17 New Western Group Limited Annual Report 2020
MANAGEMENT DISCUSSION AND ANALYSIS (Continued)
管理層討論及分析（續）
或然負債及資本承擔
除本報告所披露者外，本集團於2020年12月31日
並無任何重大或然負債（2019年12月31日：無）。
於2020年12月31日,本集團已訂約但未撥備的資
本承擔為12,357,000港元（2019年12月31日：
14,989,000港元）。
所持重大投資、附屬公司、聯營
公司及合營企業的重大收購及出
售以及未來重大投資或資本資產
計劃
除本報告「管理層討論及分析－業務回顧－重大投
資」一段所披露者外，於2019年12月31日，本集
團並無持有重大投資，於2020年本集團亦無附屬
公司、聯營公司及合營企業的其他重大收購及出
售。除本報告所披露者外，董事會於本報告日期
並無批准任何其他重大投資或購入資本資產的其
他計劃。
股息
董事會並不建議就截至2020年12月31日止年度派
付末期股息（2019年︰無）。
僱員及薪酬政策
於2020年12月31日，本集團約有28名（2019年12
月31日：31名）僱員。本集團僱員的薪酬待遇包
括基本薪金、津貼、醫療計劃、強制性公積金計
劃、佣金及花紅。本集團的薪酬政策（包括晉升、
花紅、加薪及其他福利）乃根據本集團的經營業
績、僱員個人表現、工作經驗、相關職責、資歷
及能力，以及可與現行市場慣例、標準及數據比
較的福利制定。本集團的薪酬政策由本集團管理
層定期檢討。
CONTINGENT LIABILITIES AND CAPITAL
COMMITMENTS
Save for those disclosed in this report, the Group did not have any material
contingent liabilities (31 December 2019: Nil) as at 31 December 2020. As at
31 December 2020, the Group had capital commitments contracted but not
provided for were HK$12,357,000 (31 December 2019: HK$14,989,000).
SIGNIFICANT INVESTMENTS HELD,
MATERIAL ACQUISITIONS AND DISPOSALS
OF SUBSIDIARIES, ASSOCIATES AND
JOINT VENTURES, AND FUTURE PLANS
FOR MATERIAL INVESTMENTS OR CAPITAL
ASSETS
Save for those disclosed in the paragraph headed “Management Discussion
and Analysis – Business Review – Significant Investments” in this report, there
were no significant investments held by the Group as at 31 December 2020,
nor were there other material acquisitions and disposals of subsidiaries,
associates and joint ventures by the Group during the year 2020. Apart from
those disclosed in this report, there was no other plan authorised by the
Board for other material investments or additions of capital assets at the date
of this report.
DIVIDEND
The Board does not recommend the payment of a final dividend for the year
ended 31 December 2020 (2019: Nil).
EMPLOYEES AND REMUNERATION POLICIES
The Group has approximately 28 (31 December 2019: 31) employees as at
31 December 2020. The remuneration packages of the Group’s employees
include basic salary, allowances, medical schemes, mandatory provident fund
scheme, commission and bonuses. The remuneration policies of the Group,
including promotion, bonus, salary increment and other benefits, are based
on the Group’s operating results, employees’ individual performance, working
experience, respective responsibilities, qualifications and competence, as well
as those benefits comparable to the prevailing market practice, standards
and statistics. The remuneration policies of the Group are reviewed by the
management of the Group regularly.
182020年報新威斯頓集團有限公司
MANAGEMENT DISCUSSION AND ANALYSIS (Continued)
管理層討論及分析（續）
此外，本公司已採納購股權計劃（「該計劃」）。於
2020年，概無根據該計劃已經或同意授出購股
權，且概無購股權已獲行使、遭取消或失效。本
集團亦會為其僱員提供及安排在職培訓。
本集團為其所有受香港僱傭條例管轄的僱員加入
強制性公積金計劃（「強積金計劃」）。強積金計劃
在香港根據強制性公積金計劃條例（香港法例第
485章）向強制性公積金管理局註冊。強積金計劃
的資產與本集團的資產分開持有，並由獨立受託
人控制的基金持有。根據於2014年6月1日生效的
強積金計劃修訂的規則，本集團及其僱員均須按
僱員相關收入的5% 向強積金計劃供款，每月相
關收入上限為30,000 港元。
風險管理
本集團已建立及保持風險管理程序，輔以管理層
積極參與及有效的內部監控程序，以識別及控制
組織內部及外部環境的各類風險，符合本集團及
其股東的最佳利益。
環境政策及成效
本集團已將營運對環境及天然資源的影響減至最
低。於2020年，本集團鼓勵每名員工於下班或
休假時應關閉電腦、影印機及其他電子設備的電
源。本集團會不時檢討環境常規，並將考慮提高
環境長遠可持續性的措施及常規。
環境政策及表現之詳細討論將載於環境、社會及
管治報告內，而該報告將於刊發本年報後三個月
內獨立刊發。
In addition, the Company adopted a share option scheme (the “Scheme”).
In the year of 2020, no options have been granted or agreed to be granted
pursuant to the Scheme and, no options have been exercised, cancelled or
lapsed. The Group also provides and arranges on-the-job trainings for the
employees.
The Group joined the Mandatory Provident Fund Scheme (the “MPF
Scheme”) for all of its employees employed under the jurisdiction of the
Hong Kong Employment Ordinance. The MPF Scheme is registered with the
Mandatory Provident Fund Authority under the Mandatory Provident Fund
Schemes Ordinance (Chapter 485 of the Laws of Hong Kong) in Hong Kong.
The assets of the MPF Scheme are held separately from those of the Group
in funds under the control of an independent trustee. Under the revised rules
of the MPF Scheme effective on 1 June 2014, the Group and its employees
are each required to make contributions to the MPF Scheme at 5% of the
employees’ relevant income, subject to a cap of monthly relevant income of
HK$30,000.
RISK MANAGEMENT
The Group has established and maintained risk management procedures
to identify and control various types of risk within the organisation and the
external environment with active management participation and effective
internal control procedures in the best interest of the Group and its
shareholders.
ENVIRONMENTAL POLICIES AND
PERFORMANCE
The Group has minimised the operation impact on the environment and
natural resource. In the year of 2020, the Group encourages every staff to
turn off the computers, photocopiers and other electronic equipment when
they are off duty or on leave. The Group is going to review the environmental
practices from time to time and will consider measures and practices to
enhance the long term sustainability of the environment.
Detailed discussion of the environmental policies and performance will be
included in the Environmental, Social and Governance Report which will be
separately published within three months after the publication of this annual
report.
19 New Western Group Limited Annual Report 2020
MANAGEMENT DISCUSSION AND ANALYSIS (Continued)
管理層討論及分析（續）
遵守適用法律及法規
本集團深明遵守監管要求的重要及未能遵守之風
險，如可予終止營運牌照。本集團已分配系統及
人手資源，以確保一直遵守適用規則及法規，以
及透過有效溝通有效地與監管機構維持良好工作
關係。
於回顧年間，就董事會所知悉，本集團已遵守證
券及期貨條例（香港法例第571章）（「證券及期貨條
例」）及GEM上市規則以及其他相關適用規則及法
規。
展望
儘管市場環境不利，例如市場參與者數量增加導
致競爭激烈、勞動力短缺導致物業管理成本持續
增加、監管控制日益嚴格以及材料和運營成本上
升，對本集團的毛利率產生不利影響，但董事認
為物業管理行業的市況將開始改善，並認為憑藉
本集團的業務狀況和良好的市場聲譽，本集團已
做好準備與競爭對手競爭，應對此類所有行業參
與者普遍面臨的挑戰。本集團將積極探索新機
遇，為本公司股東創造最大回報。
COMPLIANCE WITH THE APPLICABLE LAWS
AND REGULATIONS
The Group recognises the importance of compliance with regulatory
requirements and the risk of non-compliance, for instance, the operating
licences may be terminated. The Group has been allocating system and
staff resources to ensure ongoing compliance with the applicable rules and
regulations and to maintain cordial working relationships with regulators
effectively through effective communications.
During the year under review, to the best of knowledge of the Board, the
Group has complied with the Securities and Futures Ordinance (Chapter 571
of the Laws of Hong Kong) (the “SFO”) and the GEM Listing Rules and other
applicable rules and regulations.
OUTLOOK
Despite the unfavorable market conditions such as keen competition due
to the growing number of market players, continuously increasing property
management costs due to labour shortage, increasingly stringent regulatory
controls and rising material and operation costs, which adversely affected
the Group’s gross profit margin, the Directors are of the view that the market
conditions of the property management industry will start to improve and
consider that with the Group’s business presence and good reputation in the
market, the Group is well-positioned to compete with its competitors against
such challenges that are commonly faced by all industry players. The Group
will proactively explore new opportunities to create maximum returns to the
shareholders of the Company.
202020年報新威斯頓集團有限公司
CORPORATE GOVERNANCE REPORT
企業管治報告
The Company is committed to promoting high standards of corporate
governance through its continuous effort in improving its corporate
governance practices and process. The Board believes that sound and
reasonable corporate governance practices are essential for sustainable
growth of the Group and for safeguarding the interests and the Group’s
assets.
The corporate governance practices of the Group are based on the principles
and the code provisions in the Corporate Governance Code (the “CG Code”)
as set out in Appendix 15 to the GEM Listing Rules.
CORPORATE GOVERNANCE PRACTICES
The Board has continued to monitor and review the corporate governance
principles and practices to ensure compliance. The Company has adopted
CG Code contained in Appendix 15 to the GEM Listing Rules as its own
code and has complied with the CG Code throughout the year ended 31
December 2020, except the following deviations:
Annual General Meeting
Under code provision , independent non-executive directors and other
non-executive directors should generally attend general meetings to gain and
develop a balanced understanding of the views of shareholders.
Mr. Gan Lin, Ms. Li Nian, Mr. Cheung Chi Man Dennis, Mr. Liu Kam Lung
and Dr. Gao Jinkang were unable to attend the annual general meeting of
the Company held on 20 May 2020 as they were obliged to be away for their
business matter.
Financial Reporting
Code provision of the CG Code and Report, became effective on 1 April
2012, stipulates that management should provide all members of the Board
with monthly updates giving balanced and understandable assessment of the
Company’s performance, position and prospects in sufficient details. During
the year ended 31 December 2020, rather than provide monthly updates,
the management of the Company has provided to the Board quarterly
updates with quarterly consolidated financial statement of the Company’s
performance, position and prospects in sufficient details during the regular
Board meetings of the Company. In addition, the management has provided
all members of the Board, in a timely manner, updates on any material
changes to the performance, position and prospects of the Company and
sufficient information for matters brought before the Board. The management
discussion and analysis prepared by management and reviewed by the Board
of the directors are included in this annual report.
本公司致力不斷努力改善企業管治常規及程序推
行高水準之企業管治。董事會相信健全及合理之
企業管治常規對本集團之可持續增長，以及保障
利益及本集團之資產至為重要。
本集團之企業管治常規乃根據GEM上市規則附錄
十五所載之企業管治守則（「企業管治守則」）之原
則及守則條文制定。
企業管治常規
董事會繼續監察及檢討企業管治原則及常規以確
保合規。本公司已採納GEM上市規則附錄十五所
載之企業管治守則作為其本身的守則，並已於截
至2020年12月31日止年度內，一直遵守企業管治
守則，惟下列偏離事項除外：
股東週年大會
根據守則條文第條，獨立非執行董事及其他
非執行董事通常應出席股東大會，以獲得並增進
對股東意見的公正了解。
甘霖先生、李念女士、張志文先生、廖金龍先生
及高晉康博士因其個人公務事宜而無法出席本公
司於2020年5月20日召開之股東週年大會。
財務報告
於2012年4月1日生效之企業管治守則及報告之守
則條文第條規定，管理層應每月向董事會所
有成員提供更新資料，以足夠內容載列有關本公
司之表現、財務狀況及前景之公正及易於理解之
評估。截至2020年12月31日止年度，本公司管理
層已於本公司常規董事會會議上每季向董事會提
供更新資料以及以足夠內容載列有關本公司之表
現、財務狀況及前景之季度綜合財務報表（而非提
供每月更新資料）。此外，管理層已適時地向董事
會所有成員提供有關本公司表現、財務狀況及前
景之任何重大變動之更新資料並就向董事會匯報
之事項提供足夠資料。由管理層編製並已獲董事
會審閱之管理層討論及分析已載列於本年報內。
21 New Western Group Limited Annual Report 2020
CORPORATE GOVERNANCE REPORT (Continued)
企業管治報告（續）
Internal Audit Function
Code Provision of the CG Code, became effective on 1 January 2016,
stipulates that the Group should have an internal audit function. For the year
ended 31 December 2020, the Group does not have an internal audit function
from the date of Listing since 2000. Taking into account the size, nature
and complexity of the operations in the future, the Group considers that the
current organization structure and management could provide adequate risk
management and internal control of the Group.
A review performed by external reviewer of the effectiveness of the Group’s
system of internal control covering all key controls, including financial,
operational and compliance and risk management controls, is conducted
annually. For the year 2020, the review bases on a framework which assesses
the Group’s internal control system into Sales and Receivables and Cash and
treasury management cycles. The examination consists of enquiry, discussion
and validation through observation and inspection (if necessary). The result of
the review has been reported to the Board and areas of improvement, if any,
will be identified and appropriate measures will be put in place to manage the
risks.
Chairman and Chief Executive Officer
CG Code provision stipulates that the roles of chairman and chief
executive should be separate and should not be performed by the same
individual. The division of responsibilities between the chairman and chief
executive should be clearly established and set out in writing.
Mr. Zhang Qing serves as the chairman of the Board (“Chairman”) and chief
executive officer of the Company (“Chief Executive Officer”) concurrently from
1 January 2020 to 22 January 2020. To comply with the CG Code, Mr. Gan
Lin was appointed as the Chief Executive Officer on 22 January 2020, and
the roles of the Chairman and the Chief Executive Officer were since then
segregated, and there is then a clear division of responsibilities between the
Chairman and Chief Executive Officer which provides a balance of power and
authority.
內部審計職能
企業管治守則之守則條文於2016年1月1日
生效，其訂明本集團應具有內部審計職能。截至
2020年12月31日止年度，本集團自2000年上市
日期以來並無內部審計職能。考慮到未來業務規
模、性質及複雜程度，本集團認為現行組織架構
及管理層可以對本集團提供充分的風險管理和內
部控制。
外部審核員每年審閱本集團內部控制系統（涵蓋所
有關鍵控制，包括財務、營運及遵例以及風險管
理控制）之效力。2020年年度，審閱乃基於可評
估本集團內部控制系統之銷售及應收款項以及現
金及資金管理週期之框架進行。檢查包括透過觀
察及視察（如必要）進行詢問、討論及驗證。審閱
之結果已報告予董事會，需要改善之領域（如有）
將確定，並將採取適當措施以管理風險。
主席及行政總裁
企業管治守則條文第條規定，主席與行政總
裁的角色應有區分，且不應由一人同時兼任。主
席與行政總裁之間職責的分工應清楚界定並以書
面列載。
張慶先生於2020年1月1日至2020年1月22日同時
兼任本公司董事會主席（「主席」）及行政總裁（「行
政總裁」）。為遵守企業管治守則，甘霖先生於
2020年1月22日獲委任為行政總裁，自此主席與
行政總裁的角色分開，主席與行政總裁之間的職
責分工明確，提供平衡權力和權威。
222020年報新威斯頓集團有限公司
CORPORATE GOVERNANCE REPORT (Continued)
企業管治報告（續）
守則條文第
企業管治守則之守則條文第規定，董事會主
席須至少每年與非執行董事（包括獨立非執行董
事）舉行會議，執行董事不可與會。
由於張慶先生於截至2020年12月31日止年度同
時兼任主席及執行董事，故本公司偏離此守則條
文。主席認為，於董事會會議上，獨立非執行董
事可更直接及有效地向所有執行董事表明彼等之
觀點，所以董事會認為偏離此守則條文對董事會
的運作並不構成重大影響。
遵守董事進行證券交易的必守標
準
本集團已採納GEM上市規則第至條所載
的規定交易標準（「交易標準」），作為其自身進行
董事證券交易的操守守則。
經向所有董事作出特定查詢後，本公司並不知悉
截至2020年12月31日止年度內有任何未符合董事
進行證券交易之交易標準之情況。
Code Provision
Code provision of the CG Code requires that the chairman of the Board
shall at least annually hold meetings with non-executive Directors (including
independent non-executive Directors) without the executive Directors present.
As Mr. Zhang Qing serves as the Chairman and executive Director
concurrently during the year ended 31 December 2020, the Company
deviated from such code provision. The Chairman is of the view that, the
independent non-executive Directors can express their opinions to all
executive Directors more directly and effectively at the Board meetings, hence
the Board is of the view that the deviation from the code provision does not
have material impact on the operation of the Board.
COMPLIANCE WITH THE REQUIRED
STANDARD OF DEALINGS IN SECURITIES
TRANSACTIONS BY DIRECTORS
The Group has adopted the required standard of dealings set out in
Rules to of the GEM Listing Rules (the “Standard of Dealings”), as
its own code of conduct regarding Directors’ securities transactions.
Upon the specific enquiry made to all the Directors, the Company was
not aware of any non-compliance with the Standard of Dealings regarding
securities transactions by the Directors during the year ended 31 December
2020.
23 New Western Group Limited Annual Report 2020
CORPORATE GOVERNANCE REPORT (Continued)
企業管治報告（續）
董事會
組成
董事會現時由七名董事組成，包括四名執行董
事，即張慶先生（主席）及甘霖先生（行政總裁）、
俞君象先生（首席財務官）、黃剛先生以及三名獨
立非執行董事，即吳偉奇先生、趙汝宏先生及曹
志光先生。最新一份董事會成員名單（列明其角色
和職能以及彼等是否為獨立非執行董事）已分別刊
載於本公司及聯交所網站。董事的履歷詳情載於
本年報「董事及高級管理人員的履歷」一節。於本
年報日期，董事會成員之間以及本公司主席及行
政總裁之間概無任何關係，包括財務、業務、家
庭或其他重大╱相關關係。截至2020年12月31日
止年度，本公司已遵守GEM上市規則第(1)及
(2)條以及第條的規定。所有獨立非執行董事
亦符合GEM上市規則第條所載有關評估其獨
立性的指引。
董事會的功能
董事會監督本公司業務及事務的管理。董事會的
主要職務為確保本公司的持續運作，並確保其管
理方式既符合整體股東最佳利益，又顧及其他持
有本公司股份者的利益。董事會向管理層授出管
理及行政本集團的權力及責任。本集團已採納內
部指引，訂定須經董事會批准的事宜。除法定責
任外，董事會審批本集團的策略計劃、主要營運
項目、大型投資及撥資決定。董事會亦檢視本集
團的財務表現、識別本集團業務的主要風險，並
確保推行合適的機制管理風險。管理層獲授權處
理本集團日常業務運作及行政職能。
董事會亦根據守則內的守則條文第條獲授權
企業管治的職能。董事會已審閱及討論本集團的
企業管治政策，並對企業管治政策的有效性感到
滿意。
BOARD OF DIRECTORS
Composition
The Board currently comprises seven directors including four executive
Directors, namely Mr. Zhang Qing (Chairman) and Mr. Gan Lin (Chief
Executive Officer), Mr. Yu Kwan Tseung Alvin (Chief Financial Officer),
Mr. Wong Kong and three independent non-executive Directors, namely
Mr. Ng Wai Kee, Mr. Chiu Yu Wang and Mr. Cho Chi Kong. An updated
list of Directors identifying their roles and functions and whether they
are independent non-executive Directors has been published on the
websites of the Company and the Stock Exchange respectively. The
profiles of the Directors are set out in the section “Profiles of Directors
and Senior Management” of this annual report. At the date of this
annual report, there is no relationship, including financial, business,
family or other material/relevant relation(s) among members of the
Board and between the Chairman and the Chief Executive Officer of the
Company. The Company had complied with the requirements under
Rules (1) and (2), and of the GEM Listing Rules for the year ended
31 December 2020. The Company considers all independent non-executive
Directors meet the guidelines for assessment of their independence as set
out in Rule of the GEM Listing Rules.
Functions of the Board
The Board supervises the management of the business and affairs of the
Company. The Board’s primary duty is to ensure the viability of the Company
and to ensure that it is managed in the best interests of the shareholders
as a whole while taking into account the interests of other stakeholders.
The management is delegated with the authority and responsibility by the
Board for the management and administration of the Group. The Group has
adopted internal guidelines in setting forth matters that require the Board’s
approval. Apart from its statutory responsibilities, the Board approves the
Group’s strategic plan, key operational initiatives, major investments and
funding decisions. It also reviews the Group’s financial performance, identifies
principal risks of the Group’s business and ensures implementation of
appropriate systems to manage these risks. Daily business operations and
administrative functions of the Group are delegated to the management.
The Board is also delegated with the corporate governance functions under
code provision of the Code. The Board has reviewed and discussed
the corporate governance policy of the Group and is satisfied with the
effectiveness of the corporate governance policy.
242020年報新威斯頓集團有限公司
CORPORATE GOVERNANCE REPORT (Continued)
企業管治報告（續）
Board/General Meetings
During the year ended 31 December 2020, four regular Board meetings and
other Board meetings were held in addition to circulation of written resolution.
Details of the attendance of the Board meetings, audit committee (the
“Audit Committee”) meetings, remuneration committee (the “Remuneration
Committee”) meetings, nomination committee (the “Nomination Committee”)
meetings and general meetings of the Company held during the year ended
31 December 2020 are summarised as follows:
Attendance record of meetings held in 2020
於2020年內舉行的會議出席記錄
Name of member
Annual General
Meeting Board
Audit
Committee
Remuneration
Committee
Nomination
Committee
成員名稱 股東週年大會 董事會 審核委員會 薪酬委員會 提名委員會
In number
(in %)
In number
(in %)
In number
(in %)
In number
(in %)
In number
(in %)
次數 次數 次數 次數 次數
（百分比） （百分比） （百分比） （百分比） （百分比）
Total Number of Meetings
會議次數總數
1 13
(Note 1)
（附註1）
5 7 6
Number of Meetings attended/Total
出席會議次數╱總數
Executive Directors
執行董事
Mr. Zhang Qing (Chairman)
張慶先生（主席）
1/1
(100%)
13/13
(100%)
N/A
不適用
N/A
不適用
N/A
不適用
Mr. Gan Lin (Chief Executive Officer) (Note 2)
甘霖先生（行政總裁）（附註2）
0/1
(0%)
11/12
(%)
N/A
不適用
N/A
不適用
N/A
不適用
Ms. Li Nian (Note 3)
李念女士（附註3）
0/1
(0%)
9/10
(90%)
N/A
不適用
N/A
不適用
N/A
不適用
Mr. Yu Kwan Tseung Alvin (Note 4)
俞君象先生（附註4）
N/A
不適用
1/1
(100%)
N/A
不適用
N/A
不適用
N/A
不適用
Mr. Wong Kong (Note 5)
黃剛先生（附註5）
N/A
不適用
N/A
不適用
N/A
不適用
N/A
不適用
N/A
不適用
Non-Executive Directors
非執行董事
Mr. Liu Kam Lung (Note 6)
廖金龍先生（附註6）
0/1
(0%)
5/7
(%)
N/A
不適用
N/A
不適用
N/A
不適用
Mr. Wong Kee Chung (Note 7)
黃紀宗先生（附註7）
1/1
(100%)
3/3
(100%)
N/A
不適用
N/A
不適用
N/A
不適用
董事會會議╱股東大會
截至2020年12月31日止年度，除傳閱書面決議
案外，共舉行了四次董事會常規會議及其他董事
會會議。截至2020年12月31日止年度，舉行的本
公司董事會會議、審核委員會（「審核委員會」）會
議、薪酬委員會（「薪酬委員會」）會議、提名委員
會（「提名委員會」）會議及股東大會出席詳情概列
如下：
25 New Western Group Limited Annual Report 2020
CORPORATE GOVERNANCE REPORT (Continued)
企業管治報告（續）
附註：
1. 截至2020年12月31日止年度內，董事會舉行了四
次董事會常規會議及其他全體董事會會議。
2. 甘霖先生於2020年1月22日獲委任為執行董事及行
政總裁。
3. 李念女士於2020年3月25日獲委任為執行董事。
4. 俞君象先生於2020年12月11日獲委任為執行董
事。
5. 黃剛先生於2020年12月28日獲委任為執行董事。
6. 廖金龍先生於2020年6月2日辭任非執行董事。
7. 黃紀宗先生於2020年3月25日獲委任為非執行董
事，並於2020年7月10日辭任。
8. 張志文先生於2020年5月19日辭任。
9. 梁德志先生於2020年6月2日獲委任為獨立非執行
董事。
Attendance record of meetings held in 2020
於2020年內舉行的會議出席記錄
Name of member
Annual General
Meeting Board
Audit
Committee
Remuneration
Committee
Nomination
Committee
成員名稱 股東週年大會 董事會 審核委員會 薪酬委員會 提名委員會
In number
(in %)
In number
(in %)
In number
(in %)
In number
(in %)
In number
(in %)
次數 次數 次數 次數 次數
（百分比） （百分比） （百分比） （百分比） （百分比）
Independent Non-Executive Directors
獨立非執行董事
Mr. Cheung Chi Man Dennis (Note 8)
張志文先生（附註8）
0/1
(0%)
5/7
(%)
4/5
(80%)
5/5
(100%)
4/4
(100%)
Mr. Chiu Yu Wang
趙汝宏先生
1/1
(100%)
13/13
(100%)
4/5
(80%)
7/7
(100%)
6/6
(100%)
Dr. Gao Jinkang
高晉康博士
0/1
(0%)
11/13
(%)
4/5
(80%)
6/7
(%)
5/6
(%)
Mr. Leung Tak Chee Frankie (Note 9)
梁德志先生（附註9）
N/A
不適用
7/7
(100%)
N/A
不適用
2/2
(100%)
2/2
(100%)
Notes:
1. The Board held four regular Board meetings and other full Board meetings during
the year ended 31 December 2020.
2. Mr. Gan Lin was appointed as an executive Director and chief executive officer on
22 January 2020.
3. Ms. Li Nian was appointed as an executive Director on 25 March 2020.
4. Mr. Yu Kwan Tseung Alvin was appointed as an executive Director on 11
December 2020.
5. Mr. Wong Kong was appointed as an executive Director on 28 December 2020.
6. Mr. Liu Kam Lung resigned as a non-executive Director on 2 June 2020.
7. Mr. Wong Kee Chung was appointed as a non-executive Director on 25 March
2020, and he resigned on 10 July 2020.
8. Mr. Cheung Chi Man Dennis resigned on 19 May 2020.
9. Mr. Leung Tak Chee Frankie was appointed as an independent non-executive
Director on 2 June 2020.
262020年報新威斯頓集團有限公司
CORPORATE GOVERNANCE REPORT (Continued)
企業管治報告（續）
董事會的職責
董事會負責監控及領導本公司業務之管理，並於
董事會的指導及監察下共同負責本公司事務。全
體董事應以本公司之利益為依歸，客觀作出決策。
董事會的組成及成員多元化政策
本公司自2013年8月30日起採納董事會成員多元
化政策。本集團已採納有關董事會成員多元化的
政策，該政策概述如下：
(1) 董事會成員選舉將基於一系列多元化標準，
包括但不限於性別、年齡、文化及教育背
景、專業經驗、技能、知識以及服務年期；
及
(2) 提名委員會將不時監察董事會多元化政策的
實施情況，以確保董事會多元化政策發揮效
用。
提名政策
董事會於2019年1月30日制定提名政策，根據提
名政策，本公司對遴選及委任新董事採納公平正
式嚴格透明的標準及程序。
遴選標準
本公司提名委員會（「提名委員會」）將推薦，而董
事會將透過全面考慮多項因素後批准委任或重新
委任董事，有關因素包括但不限於性別、年齡、
種族、文化、教育背景、專業經驗及服務年限。
此外，提名委員會在就委任或重新委任獨立非執
行董事向董事會提出推薦建議時，提名委員會須
確保擬任獨立非執行董事符合GEM上市規則所載
的獨立標準。另外，提名委員會特別考慮擬任獨
立非執行董事的時間承諾，特別是倘擬任獨立非
執行董事將持有其第七（或更多）上市發行人董事
職位。在多個董事會任職的獨立非執行董事需確
保彼等為各個董事會和董事委員會投入足夠時間。
THE RESPONSIBILITIES OF THE BOARD
The Board is responsible for the control and leadership of management of the
Company’s business and is collectively responsible for the Company’s affair
under the Board’s direction and supervision. All the Directors should make
decision objectively in the interests of the Company.
BOARD COMPOSITION AND DIVERSITY
POLICY
The Company has adopted the board diversity policy since 30 August 2013.
The Group has adopted policy in relation to the diversity of the members of
the Board and the summary of the policy is as follows:
(1) selection of Board members will be based on a range of diversity
perspectives, which would include but not limited to gender, age,
cultural and educational background, professional experience, skills,
knowledge and length of service; and
(2) the Nomination Committee will monitor the implementation of the Board
diversity policy from time to time to ensure the effectiveness of the
Board diversity policy.
NOMINATION POLICY
The Board formulated the nomination policy on 30 January 2019, under the
nomination policy, the Company adopts fair, formal, rigorous and transparent
criteria and procedures for the selection and appointment of new Directors.
Selection Criteria
The nomination committee of the Company (the “Nomination Committee”) will
recommend, and the Board will approve the appointment or reappointment
of Directors through thorough consideration of a number of factors,
including but not limited to gender, age, race, ethnicity, cultural, educational
background, professional experience and length of service.
Also, in making a recommendation to the Board on the appointment or
reappointment of independent non-executive Directors, the Nomination
Committee shall ensure the proposed independent non-executive Directors
meet the criteria of independence as laid down in the GEM Listing Rules.
In addition, the Nomination Committee specifically considers the time
commitment of the proposed independent non-executive Directors especially
if the proposed independent non-executive Directors will be holding their
seventh (or more) listed issuer directorship. Independent non-executive
Directors sitting on multiple boards will need to ensure they devote sufficient
time to the each board and board committees.
27 New Western Group Limited Annual Report 2020
CORPORATE GOVERNANCE REPORT (Continued)
企業管治報告（續）
委任新董事的程序
1. 於委任新董事之前，提名委員會評估現任董
事會的架構、規模和組成，以考慮董事會的
背景、資格、技能、經驗、專業知識、知
識、獨立性、屬性、多元化及觀點的範圍，
務必組建一個平衡的董事會，從而促進董事
會的決策能力，以避免群體思維，並提高董
事會的效率，進而實現更佳的企業管治結
果。
2. 鑑於該評估，提名委員會將擬定所需角色和
能力的說明。根據該說明，提名委員會將根
據本公司的多元化政策從董事會聯繫人範圍
內外的眾多候選人中進行遴選，以期任命最
佳人選擔任該職位。在此過程中，提名委員
會可諮詢其認為適當的任何來源（例如通過
廣告、推薦或通過招聘顧問）以確定合適的
候選人。
3. 鑑於董事會的議定策略及挑戰目標以及本公
司面臨的挑戰及機遇，提名委員會將按所定
義的遴選標準對候選人的往績記錄和能力進
行嚴格評估，全面接觸候選人。
4. 此後，提名委員會將就建議委任向董事會提
出推薦建議。提名委員會將向薪酬委員會提
供所遴選候選人的相關資料，以供考慮所遴
選候選人的薪酬待遇。
5. 董事會主席可以面試並評估所遴選候選人的
性格、誠信、判斷力、獨立性、與本公司的
潛在利益衝突以及對本公司的時間承諾。候
選人或會獲要求介紹彼對本公司策略的建議
以及彼對本公司未來的願景。董事會主席將
向董事會報告批准委任事項。
6. 如果候選人不符合委員會的標準，將展開新
一輪招聘。
Procedures for Appointment of New Directors
1. Before making an appointment, the Nomination Committee assesses
the structure, size and composition of the current Board in order to
consider the range of backgrounds, qualifications, skills, experience,
expertise, knowledge, independence, attributes, diversities and
perspectives of the Board that are required to constitute a balanced
Board to contribute to the decision-making capabilities of the Board to
avoid groupthink and to enhance the effectiveness of the Board so as to
achieve better corporate governance results.
2. In view of this assessment, the Nomination Committee will draw up
a description of the role and competencies needed. Based on such
description, the Nomination Committee will select from a broad
range of candidates who are in and outside the Board’s circle of
contacts in accordance with the Company’s diversity policy, with a
view to appointing the best-placed individual for the role. During this
process, the Nomination Committee may consult any source it deems
appropriate in identifying suitable candidates, such as by advertising,
referral or through recruitment consultants.
3. The Nomination Committee will access candidates thoroughly with a
rigorous appraisal of the candidates’ track record and abilities against
the defined selection criteria in view of the Board’s agreed strategies
and objectives to the challenges and opportunities that the Company is
facing.
4. The Nomination Committee will thereafter make the recommendation
to the Board in relation to the proposed appointment. The Nomination
Committee will provide the relevant information of the selected candidate
to the remuneration committee for consideration of remuneration
package of such selected candidate.
5. Chairman of the Board may perform interview and assess the selected
candidate’s character, integrity, judgement, independence, potential
conflicts of interest and time commitment to the Company. The
candidate may be asked to give presentation on his/her proposals
for the Company’s strategy and his/her visions about the Company’s
future. Chairman of the Board will report to the Board for the approval of
appointment.
6. If the candidate does not match the Board’s criteria, a new round of
recruitment will take place.
282020年報新威斯頓集團有限公司
CORPORATE GOVERNANCE REPORT (Continued)
企業管治報告（續）
重新委任董事的程序
1. 全體董事均應定期重選。每位董事（包括具
有特定任期的董事）應至少每三年輪席退任
一次。
2. 如果獨立非執行董事的任期超過九年，該董
事的進一步委任應受限於股東擬批准的單獨
決議案。隨同該決議案的股東文件應包括董
事會認為獨立非執行董事仍然獨立並應獲重
選的原因。
3. 於重新委任董事時，董事會將遵循與委任新
董事相同的程序，惟需要識別合適的候選人
除外。董事會應特別考慮擬任董事的獨立
性，由於董事熟悉本公司及高級人員或董事
會，擬任董事的獨立性可能會隨著時間的推
移而減少。
目標
董事會的所有委任均以用人唯才為原則，在此背
景下，董事會繼續從最廣泛的角度考慮多元化，
包括性別多元化的全球性趨勢，因此董事會將考
慮在董事提名過程中增加女性董事的人數，務求
委任最佳人選擔任對本公司長期成功至關重要的
職務。因此，董事會將會持續吸引、挽留、發展
以及不時激勵合適的人才。
董事會亦應包括執行董事和非執行董事（包括獨立
非執行董事）的均衡組合，以便董事會上有強大的
獨立元素，可以有效地行使獨立判斷。非執行董
事應有足夠才幹及人數，以使其意見具有影響力。
審查
董事會的最終責任是遴選及委任董事，並定期審
查本公司關鍵職位的繼任計劃以及提名政策，以
確保政策與本公司的需求保持相關，並反映當前
的監管要求和良好的企業管治常規。
Procedures for Re-appointment of Directors
1. All Directors should be subject to re-elect at regular interval. Every
Director, including those appointed for a specific term, should be
subject to retirement by rotation at least once every three years.
2. If an independent non-executive Director serves more than nine
years, his/her further appointment should be subject to a separate
resolution to be approved by shareholders. The papers to shareholders
accompanying that resolution should include the reasons why the Board
believe the independent non-executive Director is still independent and
should be re-elected.
3. In re-appointment of Directors, the Board shall follow the same
procedure as the appointment of new Directors, except for the need
to identify suitable candidates. The Board shall especially consider the
independence of the proposed Directors since the independence of
the proposed Directors is likely to diminish over time as the Directors
become familiar with the Company and the executives or the Board.
Objectives
All appointments to the Board are made on merit and within this context, the
Board continues to view diversity in the widest sense, including the global
trend of gender diversity so the Board will consider to increase the number of
women on Board during the nomination process of Directors, with a view to
appointing the best-placed individual for the role which is critical to the long
term success of the Company. Thus the Board will continue to attract, retain,
develop and motivate the right talents from time to time.
The Board should also include a balanced composition of executive and non-
executive directors (including independent non-executive directors) so that
there is a strong independent element on the Board, which can effectively
exercise independent judgement. Non-executive Directors should be of
sufficient caliber and number for their views to carry weight.
Review
The Board has the ultimate responsibility to select and appoint Directors
and to periodically review the succession planning to key positions of
the Company as well as the nomination policy to ensure the policy is
remain relevant to the Company’s need and reflect both current regulatory
requirements and good corporate governance practice.
29 New Western Group Limited Annual Report 2020
CORPORATE GOVERNANCE REPORT (Continued)
企業管治報告（續）
管理人員
本公司的日常管理、行政及營運已授予主席、執
行董事及高級管理層（「管理層」）。獲授出的職能
及工作定期進行檢討。上述高級職員於訂立任何
重大交易前須取得董事會批准。管理層的整體職
責包括就審議及決定實行董事會制定本集團的政
策和策略；策劃不同的業務及職能；按照計劃及
預算密切監察營運及財務業績；建立適當的營
運、規劃和財務控制制度；及管理本集團的日常
業務。
獨立非執行董事
截至2020年12月31日止年度，根據GEM上市規則
第(1)及(2)條，本公司已委任至少三名獨立非
執行董事，彼等佔董事會最少三分之一；此亦符
合須有最少一名擁有適當專業資格或會計或有關
財務管理專業知識的獨立非執行董事的規定。獨
立非執行董事有適當及充足的經驗及資格履行職
務，以全面代表本公司股東利益。
MANAGEMENT
The daily management, administration and operation of the Company are
delegated to the Chairman, the executive Directors and senior management
(the “Management”). The delegated functions and assignments are
periodically reviewed. Approval has to be obtained from the Board prior to
any significant transactions entered into by the above mentioned officers.
The overall responsibilities of the Management include considering and
making decisions on implementing the Group’s policy and strategies as set
by the Board; strategic planning of different business and functions; closely
monitoring operational and financial results in accordance with plans and
budgets; putting adequate operational, planning and financial control systems
in place; and managing the Group’s day-to-day business.
INDEPENDENT NON-EXECUTIVE DIRECTORS
Dur ing the year ended 31 December 2020, in compl iance wi th
Rules (1) and (2) of the GEM Listing Rules, the Company has appointed
at least three independent non-executive Directors and they represented at
least one-third of the Board; it also met requirement of having at least one
of the independent non-executive Directors with appropriate professional
qualifications or accounting or related financial management expertise.
The independent non-executive Directors have appropriate and sufficient
experience and qualification to carry out their duties so as to fully represent
the interests of the shareholders of the Company.
302020年報新威斯頓集團有限公司
CORPORATE GOVERNANCE REPORT (Continued)
企業管治報告（續）
確認獨立性
各獨立非執行董事已根據GEM上市規則第條
之規定，以書面確認其年度之獨立性，且本公司
認為所有獨立非執行董事均為獨立人士。
本公司於所有刊載董事姓名的公司通訊中，皆說
明所有獨立非執行董事身份。
持續專業發展
所有董事（包括獨立非執行董事）應及時了解作為
董事的集體職責及本集團的業務及動向。本集團
亦提供簡報及其他培訓資料以增進及更新董事的
知識和技能，並提供有關GEM上市規則及其他適
用監管規定之最新訊息予全體董事，確保遵守及
提升彼等對良好企業管治常規之警覺性。為進一
步確保全體董事充份認識本公司的業務及營運以
及彼於相關法律、規則及法規下的責任，本公司
的公司秘書向全體董事提供有關本公司表現的定
期更新，亦不時提供有關上市規則及其他相關法
律及監管規定的最新修訂及發展的更新。
CONFIRMATION OF INDEPENDENCE
Each of the independent non-executive Directors has made an annual
confirmation in writing of his independence pursuant to Rule of the
GEM Listing Rules and the Company considers that all the independent non-
executive Directors were independent.
All independent non-executive Directors are identified as such in all corporate
communications by the Company containing the names of the Directors.
CONTINUOUS PROFESSIONAL
DEVELOPMENT
All Directors, including independent non-executive Directors, should keep
abreast of their collective responsibilities as Directors and of the businesses
and activities of the Group. The Group also provides briefings and other
training materials to develop and refresh the Directors’ knowledge and
skills, and updates all Directors on the latest developments regarding the
GEM Listing Rules and other applicable regulatory requirements to ensure
compliance and to enhance their awareness of good corporate governance
practices. To further ensure that all Directors are adequately informed about
the Company’s business and operations as well as his/her responsibilities
under relevant laws, rules and regulations, the company secretary of
the Company provides all Directors with regular updates regarding the
Company’s performance as well as updates on latest amendments and
developments to the Listing Rules and other relevant legal and regulatory
requirements from time to time.
31 New Western Group Limited Annual Report 2020
CORPORATE GOVERNANCE REPORT (Continued)
企業管治報告（續）
截至2020年12月31日止年度內及直至本報告日
期，獨立非執行董事向本公司提供彼等的培訓記
錄。根據董事提供的記錄，董事於截至2020年12
月31日止年度收取以下培訓資料：
During the year ended 31 December 2020 and up to date of this report,
the independent non-executive Directors provided their training records to
the Company. The Directors received the following training materials for the
year ended 31 December 2020 according to the records provided by the
Directors:
Reading materials relevant to
director’s duties and responsibilities
閱讀有關董事職責及責任之資料
Executive Directors
執行董事
Mr. Zhang Qing (Chairman) ✓
張慶先生（主席）
Mr. Gan Lin (Chief Executive Officer) (Note 1) ✓
甘霖先生（行政總裁）（附註1）
Ms. Li Nian (Note 2) ✗
李念女士（附註2）
Mr. Yu Kwan Tseung Alvin (Note 3) ✓
俞君象先生（附註3）
Mr. Wong Kong (Note 4) ✓
黃剛先生（附註4）
Non-Executive Directors
非執行董事
Mr. Liu Kam Lung (Note 5) ✓
廖金龍先生（附註5）
Mr. Wong Kee Chung (Note 6) ✗
黃紀宗先生（附註6）
Independent Non-Executive Directors
獨立非執行董事
Mr. Cheung Chi Man Dennis (Note 7) ✓
張志文先生（附註7）
Mr. Chiu Yu Wang ✓
趙汝宏先生
Dr. Gao Jinkang ✓
高晉康博士
Mr. Leung Tak Chee Frankie (Note 8)
梁德志先生（附註8）
Notes:
1. Mr. Gan Lin was appointed as an executive Director and Chief Executive Officer
on 22 January 2020.
2. Ms. Li Nian was appointed as an executive Director on 25 March 2020.
3. Mr. Yu Kwan Tseung Alvin was appointed as an executive Director on 11
December 2020.
附註：
1. 甘霖先生於2020年1月22日獲委任為執行董事及行
政總裁。
2. 李念女士於2020年3月25日獲委任為執行董事。
3. 俞君象先生於2020年12月11日獲委任為執行董
事。
322020年報新威斯頓集團有限公司
CORPORATE GOVERNANCE REPORT (Continued)
企業管治報告（續）
4. 黃剛先生於2020年12月28日獲委任為執行董事。
5. 廖金龍先生於2020年6月2日辭任非執行董事。
6. 黃紀宗先生於2020年3月25日獲委任為非執行董
事，並於2020年7月10日辭任。
7. 張志文先生於2020年5月19日辭任。
8. 梁德志先生於2020年6月2日獲委任為獨立非執行
董事。
主席及行政總裁
本公司董事會主席為張慶先生。本公司之行政總
裁為甘霖先生（於2020年1月22日獲委任）。主席
與行政總裁的角色有區分，並非由一人同時履
行，以避免權力集中於任何一位人士。主席主要
負責董事會的管理，而行政總裁之角色則主要負
責監管本集團各項不同業務。彼等各自的角色及
職責概述如下：
主席的職責包括：
(i) 領導董事會並確保董事會有效和平穩地運
作；
(ii) 主持董事會和股東會議；
(iii) 批准每次董事會會議的議程，並考慮在適當
的情況下，將其他董事及公司秘書提出的事
項列入議程；
(iv) 確保每次會議前所有董事收到所有相關信
息，且適當知悉在董事會會議上提出的問
題；
(v) 確保所有重要及適當事項於董事會適時和有
建設性地進行討論；
(vi) 鼓勵所有董事（包括獨立非執行董事）積極參
與所有董事會及董事會委員會會議，並向董
事提倡公開文化以分享和表達彼等在每次會
議期間關注的一切事項；
(vii) 確保良好的企業管治常規及程序得以建立和
遵循；及
(viii) 採取適當步驟向股東提供有效之溝通並確保
股東的整體意見傳達給董事會。
4. Mr. Wong Kong was appointed as an executive Director on 28 December 2020.
5. Mr. Liu Kam Lung resigned as a non-executive Director on 2 June 2020.
6. Mr. Wong Kee Chung was appointed as a non-executive Director on 25 March
2020, and he resigned on 10 July 2020.
7. Mr. Cheung Chi Man Dennis resigned on 19 May 2020.
8. Mr. Leung Tak Chee Frankie was appointed as an independent non-executive
Director on 2 June 2020.
CHAIRMAN AND CHIEF EXECUTIVE OFFICER
The Chairman of the Board of the Company is Mr. Zhang Qing. The
Chief Executive Officer of the Company is Mr. Gan Lin (appointed on 22
January 2020). The roles of the Chairman and the Chief Executive Officer
are separated and not performed by the same individual to prevent power
concentration on any one individual. The Chairman is primarily responsible
for managing the Board, whereas the Chief Executive Officer is primarily
responsible for overseeing the various businesses of the Group. Their
respective roles and responsibilities are summarised as follows:
Responsibilities of the Chairman include:
(i) leading the Board and ensuring that the Board functions effectively and
smoothly;
(ii) chairing the Board and shareholder’s meetings;
(iii) approving the agenda for each Board meeting, taking into account,
where appropriate, any matters proposed by the other Directors and the
company secretary for inclusion in the agenda;
(iv) ensuring that all Directors receive all relevant information prior to each
meeting and are properly briefed on issues arising at Board meetings;
(v) ensuring all key and appropriate issues are discussed by the Board in a
timely and constructive manner;
(vi) encouraging all Directors, including the independent non-executive
Directors, to actively participate in all Board and Board Committees
meetings and promoting a culture of openness for the Directors to share
and voice their concerns on all matters during each meeting;
(vii) ensuring good corporate governance practices and procedures are
established and followed; and
(viii) taking appropriate steps to provide effective communication with
shareholders and to ensure that shareholders’ view are communicated
to the Board as a whole.
33 New Western Group Limited Annual Report 2020
CORPORATE GOVERNANCE REPORT (Continued)
企業管治報告（續）
行政總裁的職責包括：
(i) 實行由董事會制定的本集團政策和策略；
(ii) 策劃不同的業務及職能；
(iii) 按照計劃和預算密切監察營運及財務業績；
(iv) 向董事會承擔對本集團各方面的業務和表現
的全部責任；
(v) 保持與主席及其他董事經常性對話；
(vi) 發展和領導一支有效率的行政團隊；
(vii) 建立適當的營運、規劃和財務控制制度；及
(viii) 代表本公司及管理本集團的日常業務。
董事委任及重選
所有董事（包括獨立非執行董事）的委任初步任期
為一年，其任期屆滿後可自動連續續期一年。彼
等的委任亦須根據本公司細則（「細則」）輪席退任
及符合資格重選。於各股東週年大會上，不少於
三分之一當時在任的董事須退任，而每名董事須
最少每三年輪席退任一次。
目前所有董事均有權各自獲得固定月薪或年薪。
每位董事的薪酬每年須由董事會經參考其所貢獻
的時間、精力及其專業知識進行檢討。
於2020年內，向各董事支付之薪酬詳情，於綜合
財務報表附註12披露。
全體董事均有權因履行本公司職務期間產生合理
的開支而獲得補償及符合資格根據購股權計劃獲
授購股權。
Responsibilities of the Chief Executive Officer include:
(i) implementing the Group’s policy and strategies as set by the Board;
(ii) strategic planning of different business and functions;
(iii) closely monitoring operational and financial results in accordance with
plans and budgets;
(iv) assuming full accountability to the Board for all aspects of the Group’s
operations and performance;
(v) maintaining ongoing dialogue with the Chairman and the other Directors;
(vi) developing and leading an effective executive team;
(vii) putting adequate operational, planning and financial control systems in
place; and
(viii) representing the Company and managing the Group’s day to day
business.
APPOINTMENT AND RE-ELECTION OF
DIRECTORS
All the Directors (including the independent non-executive Directors) are
appointed for an initial term of one year which is automatically renewable for
successive terms of one year upon the expiry of a term. Their appointment is
also subject to retirement by rotation and eligible for re-election in accordance
with the Company’s articles of association (the “Articles”). At each annual
general meeting, not less than one third of the Directors then in office shall
retire and every Director is subject to retirement by rotation at least once
every three years.
All existing Directors are entitled to a fixed remuneration per month or fee
per annum respectively. The remuneration of each Director is subject to the
annual review of the Board with reference to his contribution in terms of time,
effort and his expertise.
Details of remuneration paid to each of the Directors during the year 2020 are
disclosed in note 12 to the consolidated financial statements.
All Directors are entitled to be reimbursed for reasonable expenses incurred
during the performance of their duties to the Company and are eligible for
share options under the Share Option Scheme.
342020年報新威斯頓集團有限公司
CORPORATE GOVERNANCE REPORT (Continued)
企業管治報告（續）
董事會委員會
董事會設立三個董事會委員會，即審核委員會、
薪酬委員會及提名委員會，均具備各董事會委員
會特定的職權範圍，清楚列明其權力及責任。所
有董事會委員會均須按照其職權範圍規定向董事
會匯報其決定、發現或建議。
審核委員會
本公司已設立審核委員會，並已制定符合企業管
治守則規定的書面職權範圍，而該書面職權範圍
可於香港交易及結算所有限公司及本公司之網站
查閱。
審核委員會現由三名獨立非執行董事組成，即吳
偉奇先生、趙汝宏先生及曹志光先生，並由吳偉
奇先生擔任主席，而所有成員均為本公司之獨立
非執行董事，充分遵守GEM上市規則第條。
審核委員會已審閱本集團截至2020年12月31日止
年度的經審核財務報表，並推薦董事會批准。
截至2020年12月31日止年度，舉行了5次審核委
員會會議及其與會成員出席記錄刊登於本年報第
24至25頁。
審核委員會的角色及職能包括以下各項：
(i) 與本公司核數師的關係
(a) 主要負責就外聘核數師的委任、重新委
任及罷免向董事會提供建議，並批准外
聘核數師的薪酬及聘用條款，及處理任
何辭職或辭退的問題；
(b) 按適用的標準檢討及監察外聘核數師是
否獨立及客觀及核數程序是否有效。審
核委員會應於核數工作開始前先與外聘
核數師討論核數性質及範疇及有關申報
責任；及
BOARD COMMITTEES
The Board has established three board committees, namely, the Audit
Committee, the Remuneration Committee and the Nomination Committee, all
with specific terms of reference clearly defining the powers and responsibilities
of the respective board committees. All board committees are required by
their terms of reference to report to the Board in relation to their decisions,
findings or recommendations.
AUDIT COMMITTEE
The Company has established the Audit Committee with written terms of
reference that are in conformity with the requirements of the CG Code which
are available on the websites of the Hong Kong Exchanges and Clearing
Limited and the Company.
The Audit Committee is currently composed of the three independent non-
executive Directors, namely Mr. Ng Wai Kee, Mr. Chiu Yu Wang and Mr.
Cho Chi Kong, and chaired by Mr. Ng Wai Kee, with all members being
independent non-executive Directors of the Company in full compliance with
Rule of the GEM Listing Rules.
The Audit Committee has reviewed the audited financial statements of the
Group for the year ended 31 December 2020 and recommended approval to
the Board.
For the year ended 31 December 2020, 5 audit committee meetings were
held and the members’ attendance is shown on pages 24 to 25 of this annual
report.
The role and function of the Audit Committee include the following:
(i) Relationship with the Company’s auditors
(a) to be primarily responsible for making recommendations to the
Board on the appointment, reappointment and removal of the
external auditor and to approve the remuneration and terms
of engagement of the external auditor, and any questions of
resignation or dismissal;
(b) to review and monitor the independence and objectivity of the
external auditors and the effectiveness of the audit process in
accordance with applicable standards. The Audit Committee
should discuss with the external auditors the nature and scope of
the audit and reporting obligations before the audit commences;
and
35 New Western Group Limited Annual Report 2020
CORPORATE GOVERNANCE REPORT (Continued)
企業管治報告（續）
(c) 就外聘核數師提供非核數服務制定政
策，並予以執行。就此規定而言，「外
聘核數師」包括與負責審計的公司處於
同一控制權、所有權或管理權之下的任
何實體，或一個合理知悉所有有關資料
的第三方，在合理情況下會斷定該機構
屬於該負責審計的公司的本土或國際業
務的一部分的任何實體。審核委員會應
向董事會報告，識別必須採取的行動或
改善的任何事項，並作出建議。
(ii) 監察本公司的財務資料
(a) 監察本公司的財務報表、年度報告及賬
目、半年度報告及季度報告的完整性，
並審核於其中所載的重大財務申報的判
斷。於提交董事會前審核該等報告及賬
目時，審核委員會應特別針對下列事
項：
(1) 會計政策及實務的任何更改；
(2) 涉及重要判斷的地方；
(3) 因核數而出現的重大調整；
(4) 持續經營的假設及任何保留意見；
(5) 是否遵守會計準則；及
(6) 是否遵守有關財務申報的GEM上
市規則及法律規定。
就上述(ii)(a)項而言，
(1) 審核委員會成員須與董事會及高
層管理層聯絡，而審核委員會每
年須與外聘核數師開會至少兩
次；及
(2) 審核委員會應考慮於該等報告及
賬目中所反映或需反映的任何重
大或不尋常事項，並須適當考慮
任何由本公司屬下會計、內部審
計及財務報告部門負責人、監察
主任或外聘核數師提出的事項。
(c) to develop and implement policy on engaging the external auditors
to supply non-audit services. For this purpose, “external auditors”
includes any entity that is under common control, ownership or
management with the audit firm or any entity that a reasonable
and informed third party knowing all relevant information would
reasonably conclude to be part of the audit firm nationally or
internationally. The Audit Committee should report to the Board,
identifying and making recommendations on any matters where
action or improvement is needed.
(ii) Review of the Company’s financial information
(a) to monitor the integrity of the financial statements, annual report
and accounts, half-year report and quarterly reports of the
Company, and to review significant financial reporting judgments
contained in them. In reviewing these reports and accounts before
submission to the Board, the Audit Committee should focus
particularly on:
(1) any changes in accounting policies and practices;
(2) major judgmental areas;
(3) significant adjustments resulting from audit;
(4) the going concern assumptions and any qualifications;
(5) compliance with accounting standards; and
(6) compliance with GEM Listing Rules and legal requirements in
relation to financial reporting.
Regarding (ii)(a) above,
(1) members of the Audit Committee should liaise with the Board
and senior management, and the Audit Committee must
meet, at least twice a year, with the external auditors; and
(2) the Audit Committee should consider any significant or
unusual items that are, or may need to be, reflected in the
reports and accounts and should give due consideration to
any matters that have been raised by the Company’s staff
responsible for the accounting, internal audit and financial
reporting functions, compliance officer or the external
auditors.
362020年報新威斯頓集團有限公司
CORPORATE GOVERNANCE REPORT (Continued)
企業管治報告（續）
(iii) 監察本公司財務申報系統、風險
管理及內部監控制度
(a) 檢討本公司之財務控制及（除非由董事
會轄下另設之風險管理及內部監控委員
會，或由董事會本身明確處理）檢討風
險管理及內部監控制度；
(b) 與管理層討論風險管理及內部監控制
度，以確保管理層已履行職責建立有效
制度。該討論應包括本公司會計、內部
審計及財務報告部門之資源、員工資質
及經驗、培訓計劃及預算之是否充足；
(c) 應董事會的委派或主動，就有關風險管
理及內部監控事宜的重要調查結果及管
理層的回應進行研究；
(d) 確保內部與外聘核數師的工作得到協
調；也須確保內部審計功能在本公司內
部有足夠資源運作，並且有適當的地
位；以及檢討及監察其有效性；
(e) 檢討本公司及其附屬公司的財務及會計
政策及實務；
(f) 檢討外聘核數師給予管理層的函件、外
聘核數師就會計記錄、財務賬目或監控
系統向管理層提出的任何重大疑問及管
理層作出的回應；
(g) 確保董事會及時回應外聘核數師給予管
理層的函件中提出的事宜；
(h) 向董事會報告GEM上市規則附錄15所
載企業管治守則及企業管治報告之守則
條文所述之事項；
(i) 研究其他由董事會界定的課題；
(j) 檢討本公司設定的以下安排：僱員可暗
中就財務申報、內部監控或其他方面可
能發生的不正當行為提出關注。審核委
員會應確保有適當安排，以對此等事宜
作出公平獨立的調查及採取適當跟進行
動；及
(iii) Oversight of the Company’s financial reporting
system, risk management and internal control
systems
(a) to review the financial controls, and unless expressly addressed by
a separate Board risk management and internal control committee,
or by the Board itself, to review the risk management and internal
control systems of the Company;
(b) to discuss the risk management and internal control systems with
the management to ensure that the management has performed
its duty to have effective systems. This discussion should include
the adequacy of resources, staff qualifications and experience,
training programmes and budget of the Company’s accounting,
internal audit and financial reporting functions;
(c) to consider major investigation findings on risk management and
internal control matters as delegated by the Board or on its own
initiative and the management’s response to these findings;
(d) to ensure co-ordination between the internal and the external
auditors, and to ensure that the internal audit function is adequately
resourced and has appropriate standing within the Company, and
to review and monitor its effectiveness;
(e) to review the financial and accounting policies and practices of the
Company and its subsidiaries;
(f) to review the management letter of the external auditors, any
material queries raised by the external auditors to management
about accounting records, financial accounts or systems of control
and the management’s response;
(g) to ensure that the Board will provide a timely response to the issues
raised in the management letter of the external auditors;
(h) to report to the Board on the matters in the code provisions in the
Corporate Governance Code and Corporate Governance Report
set out in Appendix 15 to the GEM Listing Rules;
(i) to consider other topics, as defined by the Board;
(j) to review arrangements employees of the Company can use,
in confidence, to raise concerns about possible improprieties in
financial reporting, internal control or other matters. The Audit
Committee should ensure that proper arrangements are in place
for fair and independent investigation of these matters and for
appropriate follow-up action; and
37 New Western Group Limited Annual Report 2020
CORPORATE GOVERNANCE REPORT (Continued)
企業管治報告（續）
(k) 擔任負責監察本公司與外聘核數師之間
的關係的主要代表。
於2020年主要達成事項包括以下各項：
(a) 審閱了本集團之季度、半年度及年度業績，
並對年度內財務報告及其他報告作出討論及
審閱；
(b) 審閱外聘核數師的主要結果，以及管理層對
所提出建議的回應；
(c) 檢討本集團風險管理及內部監控系統的效能
以及會計、內部審核及財務申報功能的充足
程度；
(d) 審閱及批准外聘核數師2020年的法定審核範
圍，以及由董事會給予的聲明書；
(e) 審議及批准2020年的外聘核數費用及聘任
書；
(f) 就外聘核數師對本集團提供的核數及非核數
服務作出監察，及確保彼等的其他非核數服
務委聘（如有）並不會削弱彼等之審核獨立性
或客觀性；
(g) 就審核委員會之職權範圍向董事會提出建
議；及
(h) 就股息政策向董事會提出建議。
截至2020年12月31日止年度，董事會與審核委員
會對甄選、委任、辭任或罷免外聘核數師之事宜
並沒有意見分歧。
審核委員會已審閱本集團截至2020年12月31日止
年度的經審核財務報表，並推薦董事會批准。
(k) to act as the key representative body for overseeing the
Company’s relations with the external auditors.
Major accomplishments in 2020 comprised the following:
(a) reviewed the quarterly, half-yearly and annually results of the Group as
well as discussed and reviewed financial and other reports for the year;
(b) reviewed the external auditors’ significant findings and management’s
response to the recommendation raised;
(c) reviewed the effectiveness of the risk management and internal control
systems and the adequacy of the accounting, internal audit and financial
reporting functions of the Group;
(d) reviewed and approved the external auditors’ statutory audit scope for
2020 and the letter of representation to be given by the Board;
(e) considered and approved the 2020 external audit fees and engagement
letters;
(f) monitored the audit and non-audit services rendered to the Group by
its external auditor and ensures their engagement in other non-audit
services, if any, will not impair their audit independence or objectivity;
(g) recommended to the Board in relation to the terms of reference of Audit
Committee; and
(h) recommended to the Board regarding the dividend policy.
There was no disagreement between the Board and the Audit Committee on
the selection, appointment, resignation or dismissal of the external auditors
for the year ended 31 December 2020.
The Audit Committee has reviewed the audited financial statements of the
Group for the year ended 31 December 2020 and recommended approval to
the Board.
382020年報新威斯頓集團有限公司
CORPORATE GOVERNANCE REPORT (Continued)
企業管治報告（續）
薪酬委員會
本公司已根據企業管治守則之規定設立薪酬委員
會，並已制定書面職權範圍。根據企業管治守則
載列的條文，其職權範圍可於香港交易及結算所
有限公司及本公司之網站查閱。
薪酬委員會現由三名獨立非執行董事組成，即吳
偉奇先生、趙汝宏先生及曹志光先生，並由吳偉
奇先生擔任主席。
截至2020年12月31日止年度，舉行了7次薪酬委
員會會議及其與會成員出席記錄刊登於本年報第
24至25頁。
薪酬委員會之角色及職能包括：
(i) 就本公司全體董事及高級管理人員的薪酬待
遇政策及結構和建立一個規範及透明的釐定
薪酬政策程序事宜，向董事會提出建議；
(ii) 透過參照董事會的公司目標及宗旨，檢討及
批准管理層的薪酬提議；
(iii) 就各執行董事及高級管理人員的薪酬待遇向
董事會提出建議。薪酬待遇包括實物福利、
個人權利及補償款項，包括支付與喪失或終
止職務或委任有關的任何賠償；
(iv) 向董事會提出非執行董事薪酬建議；
(v) 考慮同比公司薪酬、參與時間及責任、以及
本集團內僱用條款；
(vi) 檢討及批准向執行董事及高級管理人員支付
與喪失或終止職務或委任有關的應支付賠
償，以確保符合合約條約及於其他方面屬公
平且並不過分；
REMUNERATION COMMITTEE
The Company has established the Remuneration Committee with written
terms of reference in accordance with the requirement of the CG Code.
In accordance with provisions set out in the CG Code are available on
the websites of the Hong Kong Exchanges and Clearing Limited and the
Company.
The Remuneration Committee is currently composed of the three independent
non-executive Directors, namely Mr. Ng Wai Kee, Mr. Chiu Yu Wang and Mr.
Cho Chi Kong, and chaired by Mr. Ng Wai Kee.
For the year ended 31 December 2020, 7 remuneration committee meetings
was held and the members’ attendance is shown on pages 24 to 25 of this
annual report.
The role and function of the Remuneration Committee includes:
(i) to make recommendations to the Board on the Company’s policy and
structure for all Directors’ and senior management remuneration and on
the establishment of a formal and transparent procedure for developing
remuneration policy;
(ii) to review and approve the management’s remuneration proposals with
reference to the Board’s corporate goal and objectives;
(iii) to make recommendations to the Board on the remuneration packages
of individual executive Directors and senior management. This should
include benefits in kind, person rights and compensation payments,
including any compensation payable for loss or termination of their office
or appointment;
(iv) to make recommendations to the Board on the remuneration of non-
executive Directors;
(v) to consider salaries paid by comparable companies, time commitment
and responsibilities and employment conditions elsewhere in the Group;
(vi) to review and approve compensation payable to executive Directors and
senior management for any loss or termination of office or appointment
to ensure that it is consistent with contractual terms and is otherwise fair
and not excessive;
39 New Western Group Limited Annual Report 2020
CORPORATE GOVERNANCE REPORT (Continued)
企業管治報告（續）
提名委員會
本公司設立提名委員會，並已制定書面職權範
圍。提名委員會的職權範圍符合企業管治守則所
載之規定，並可於香港交易及結算所有限公司及
本公司之網站查閱。
提名委員會現由三名獨立非執行董事組成，即吳
偉奇先生、趙汝宏先生及曹志光先生，並由吳偉
奇先生擔任主席。
(vii) 檢討及批准因董事行為失當而遭解僱或罷免
所涉及的賠償安排，以確保符合合約條約及
於其他方面屬合理合適；及
(viii) 確保任何董事或其任何聯繫人不得參與釐訂
其自身薪酬。
於2020年主要達成事項包括以下各項：
(i) 審閱董事及高級管理人員現行薪酬待遇和酬
金的相關事宜；
(ii) 就個別執行董事及高級管理層的薪酬待遇向
董事會提出建議；及
(iii) 根據董事及高級管理人員須付出的時間及職
責、是否應該按表現釐訂薪酬，考慮及檢討
本集團之薪酬政策。
應支付予高級管理人員的年薪
截至2020年12月31日止年度按範圍劃分的高級管
理人員的年薪如下：
(vii) to review and approve compensation arrangements relating to dismissal
or remove of directors for misconduct to ensure that they are consistent
with contractual terms and are otherwise reasonable and appropriate;
and
(viii) to ensure that no Director or any of his associates is involved in deciding
his own remuneration.
Major accomplishments in 2020 comprised the following:
(i) reviewed matter
