SAM WOO CONSTRUCTION GROUP LIMITED
三和建築集團有限公司
(Incorporated in the Cayman Islands with limited liability)
(Stock code 股份代號 : 3822)
(於開曼群島註冊成立的有限公司)
Annual Report 年報
2017
Contents 目錄
Corporate Information 公司資料 2
Chairman’s Statement 主席報告 4
Management Discussion and Analysis 管理層討論與分析 7
Corporate Social Responsibility Report 企業社會責任報告 20
Corporate Governance Report 企業管治報告 29
Profile of Directors and Senior Management 董事及高級管理層履歷 40
Directors’ Report 董事會報告 45
Independent Auditor’s Report 獨立核數師報告 59
Consolidated Statement of Comprehensive Income 綜合全面收益表 70
Consolidated Balance Sheet 綜合資產負債表 71
Consolidated Statement of Changes in Equity 綜合權益變動表 73
Consolidated Statement of Cash Flows 綜合現金流量表 74
Notes to the Consolidated Financial Statements 綜合財務報表附註 75
Five Year Financial Summary 五年財務概要 164
2
ANNUAL REPORT 2017
SAM WOO CONSTRUCTION GROUP LIMITED
公司資料
Corporate Information
BOARD OF DIRECTORS
Executive Directors
Mr. Lau Chun Ming (Chairman)
Mr. Lau Chun Kwok (Chief Executive Officer)
Mr. Lau Chun Ka
Ms. Leung Lai So
Independent Non-executive Directors
Professor Wong Sue Cheun, Roderick
Mr. Chu Tak Sum
Mr. Ip Tin Chee, Arnold
AUDIT COMMITTEE
Mr. Ip Tin Chee, Arnold (Chairman)
Professor Wong Sue Cheun, Roderick
Mr. Chu Tak Sum
NOMINATION COMMITTEE
Professor Wong Sue Cheun, Roderick (Chairman)
Mr. Chu Tak Sum
Mr. Ip Tin Chee, Arnold
Mr. Lau Chun Ming
REMUNERATION COMMITTEE
Mr. Chu Tak Sum (Chairman)
Professor Wong Sue Cheun, Roderick
Mr. Ip Tin Chee, Arnold
Mr. Lau Chun Ming
COMPANY SECRETARY
Mr. Chan Sun Kwong
AUTHORISED REPRESENTATIVES
Mr. Lau Chun Ming
Mr. Chan Sun Kwong
REGISTERED OFFICE
Cricket Square, Hutchins Drive
. Box 2681, Grand Cayman
KY1-1111, Cayman Islands
董事會
執行董事
劉振明先生（主席）
劉振國先生（行政總裁）
劉振家先生
梁麗蘇女士
獨立非執行董事
王世全教授
朱德森先生
葉天賜先生
審核委員會
葉天賜先生（主席）
王世全教授
朱德森先生
提名委員會
王世全教授（主席）
朱德森先生
葉天賜先生
劉振明先生
薪酬委員會
朱德森先生（主席）
王世全教授
葉天賜先生
劉振明先生
公司秘書
陳晨光先生
授權代表
劉振明先生
陳晨光先生
註冊辦事處
Cricket Square, Hutchins Drive
. Box 2681, Grand Cayman
KY1-1111, Cayman Islands
3
三和建築集團有限公司
二零一七年年報
公司資料
Corporate Information
HEAD OFFICE AND PRINCIPAL PLACE OF BUSINESS
IN HONG KONG
10/F, Energy Plaza
92 Granville Road
Tsim Sha Tsui East
Kowloon
Hong Kong
Tel : (852) 2332-0783
Fax : (852) 2385-0793
Website :
PRINCIPAL SHARE REGISTRAR AND TRANSFER
OFFICE
Conyers Trust Company (Cayman) Limited
Cricket Square, Hutchins Drive
. Box 2681, Grand Cayman
KY1-1111, Cayman Islands
HONG KONG BRANCH SHARE
REGISTRAR AND TRANSFER OFFICE
Tricor Investor Services Limited
Level 22, Hopewell Centre
183 Queen’s Road East
Hong Kong
AUDITOR
PricewaterhouseCoopers
COMPLIANCE ADVISER
Investec Capital Asia Limited
PRINCIPAL BANKERS
The Hong Kong and Shanghai Banking
Corporation Limited
Bank of China (Hong Kong) Limited
The Bank of East Asia, Limited
DBS Bank (Hong Kong) Limited
Chong Hing Bank Limited
STOCK CODE
3822
香港總部及主要營業地點
香港
九龍
尖沙咀東部
加連威老道92號
幸福中心10樓
電話：(852) 2332-0783
傳真：(852) 2385-0793
網址：
股份過戶登記總處
Conyers Trust Company (Cayman) Limited
Cricket Square, Hutchins Drive
. Box 2681, Grand Cayman
KY1-1111, Cayman Islands
香港股份過戶登記分處
卓佳證券登記有限公司
香港
皇后大道東183號
合和中心22樓
核數師
羅兵咸永道會計師事務所
合規顧問
天達融資亞洲有限公司
主要往來銀行
香港上海滙豐銀行有限公司
中國銀行（香港）有限公司
東亞銀行有限公司
星展銀行（香港）有限公司
創興銀行有限公司
股份代號
3822
4
ANNUAL REPORT 2017
SAM WOO CONSTRUCTION GROUP LIMITED
主席報告
Chairman’s Statement
Dear Shareholders,
On behalf of the board of directors (the “Board”), I am pleased
to present the annual report of Sam Woo Construction Group
Limited (the “Company”) together with its subsidiaries (the
“Group”) for the year ended 31 March 2017.
The business environment of the construction industry was
similar to last year. The construction market was hard-hit by
the prolonged debates in the Legislative Council during the
year which led to a large backlog in funding approval for public
works. That resulted in a substantial drop in the number of
open tenders in the market, and in turn severe competition and
suppressed contract prices.
The Group did not land any new contracts in the year
2016/2017, however, it commenced construction of three
profitable projects – the Liantang/Heung Yuen Wai Boundary
Control Point, Hospital Expansion project and Commercial/
Residential Development in Wong Tai Sin District – during the
year as scheduled. Despite the decrease in turnover and profit
during the year relative to last year, the Group maintained
a sound financial position with affluent operating cashflows
during the year and a net cash position at the end of the year.
The Group also used the proceeds from its listing to acquire
additional infrastructure facilities and equipment to strengthen
its construction capabilities.
On the cost control front, the Group reduced the number of
site workers by approximately 15% during the year after major
labour-intensive works of some construction projects were
completed. As for finance costs, the Group voluntarily repaid
some long-term loans in advance in early 2017, given its
sufficient working capital, and switched primarily to short-term
loans for flexible management and reduction of cost of interest.
各位股東：
本人謹此代表董事會（「董事會」）欣然提呈
三和建築集團有限公司（「本公司」）連同其
附屬公司（「本集團」）截至2017年3月31日
止年度的年報。
建築業的經營環境跟上一年情況相似，
立法會耗用長時間進行議案辯論，令大批
公共工程撥款仍待審批，建築市場大受影
響。由於在市場招標的合同數目大量減
少，競爭更趨激烈，多項招標的合同價格
受壓。
本集團雖於2016-17年度暫未贏得新合
同，然而手上三項具利潤回報的項目，包
括蓮塘╱香園圍口岸項目、醫院擴建項目
及黃大仙區商住發展項目，已按工程時間
表施工。雖然年內營業額和盈利均比去年
減少，但本集團的財政維持穩健，本年度
擁有龐大的經營現金流量，並於年末錄得
淨現金狀況。本集團亦運用到上市所得款
項添置地基機械設備，進一步增強建築實
力。
而在成本控制方面，本集團的部分項目的
工程高峰期完成後，年內削減了大約15%
的地盤人手；財務成本方面，本集團營運
資金充裕，在2017年初，本集團主動提早
償還部分長期貸款，轉以短期貸款為主，
有助靈活地調度節省利息成本。
5
三和建築集團有限公司
二零一七年年報
主席報告
Chairman’s Statement
With a new Chief Executive (“CE”) of the Hong Kong SAR
elected this year, the large backlog of projects pending
approval hopefully will be processed more quickly and the
development plans discussed in the 2016/2017 Policy Address
will be implemented. However, with a certain transitional period
expected for the new CE and her team to get the hang of
governing, public works projects would not regain momentum
immediately. Hence, we expect to face a tougher environment
in the coming year. To strive for a breakeven in cashflows, we
will be very cautious in additional investment in machinery and
equipment.
In March 2017, we acquired 5% equity interests in a property
holding company at a total consideration of approximately
HK$20 million. The purpose of the acquisition is to provide
a springboard for the Group to explore new opportunities in
property investment or property development and also to work
with the substantial shareholder of the Company in exploring
the development potential of a number of land parcels in the
New Territories. The Group is likely to take on the relevant
construction projects in those development plans once they
are implemented and that will diversify the Group’s income
stream. As that investment is still in preliminary stage, there is
no funding pressure on the Group in the near term.
Looking ahead, the Board remains prudently optimistic about
the prospects of the construction market. We are confident
that the Group, as one of the most dependable contractors
in the foundation segment who has an extensive range
of specialised machinery and equipment, an experienced
management team and decades of valuable project experience,
will be securing more projects and participating instrumentally
in landmark projects in the coming years.
今年，適逢新特首即將上任，本集團期望
仍待審批的工程可加快處理，以及盡快落
實2016及2017年施政報告的發展計劃，
但預料政府團隊換屆需要經過一段過渡
期，公共項目不會馬上落實。所以，本集
團估計未來一年將面對更嚴峻的考驗，本
集團將對添置機械設備十分審慎，以資金
收支平衡為目標。
本集團今年3月剛完成收購一物業控股公
司的5%權益，總投資額約2,000萬港元。
是項投資為本集團帶來物業投資或物業發
展的新機遇，與主要股東合作研究幾幅位
於新界土地的發展潛力。日後，如發展計
劃落實，本集團將有機會承接有關建築工
程，有助擴闊本集團的收入來源。然而，
該項投資現仍處於初期階段，短期內不會
對本集團造成資金壓力。
展望未來，董事會仍對建築市場的長遠前
景保持審慎樂觀。本集團作為地基行業信
譽良好的承建商之一，備有全面的專業機
械設備、經驗豐富的管理團隊及超逾數十
年的工程項目的彪炳業績，有信心能夠於
未來幾年獲得更多具標誌性的工程。
6
ANNUAL REPORT 2017
SAM WOO CONSTRUCTION GROUP LIMITED
主席報告
Chairman’s Statement
I would like to take this opportunity to express my respect
fo r and apprec ia t ion to my fe l low Board members ,
the management team, a l l s ta f f members, suppl iers ,
subcontractors, other business partners and, most importantly,
our shareholders and customers for their support.
To reward and thank our shareholders for their unwavering
support, the Board recommends payment of a final dividend of
cent per share.
Mr. Lau Chun Ming
Chairman
Hong Kong
23 June 2017
本人謹藉此機會對董事會成員、管理團
隊、員工、供應商、分包商、其他業務合
作夥伴，以及最重要的是我們的股東和客
戶的支持致以衷心謝意。
為回饋及感謝股東的支持，董事會建議派
發末期股息每股港仙。
主席
劉振明先生
香港
2017年6月23日
7
三和建築集團有限公司
二零一七年年報
管理層討論與分析
Management Discussion and Analysis
The Board is pleased to present the annual results of the
Group for the year ended 31 March 2017 (the “Year”/“2017”),
together with comparative figures for the previous year ended
31 March 2016 (the “Previous Year”/“2016”).
BUSINESS REVIEW AND OUTLOOK
Group Revenue and Profit
The Group’s revenue for the Year was HK$818 mill ion,
representing a decrease of 23% as compared with the Previous
Year (2016: HK$1,061 million). As discussed in the last Annual
Report and Interim Report of the Company, the number of
tenders available during the Year was limited largely due to the
backlog in funding approval of public works and infrastructure
projects as a result of filibusters in the Legislative Council
in Hong Kong. With the Composite Development Project in
Macau completed in the Previous Year, the Group continued
during the Year to work on the three projects in Hong Kong,
namely the Proposed Commercial/Residential Development
in Wong Tai Sin District, Liantang/Heung Yuen Wai Boundary
Control Point and Hospital Expansion projects. The Group’s
revenue for the Year declined as there was no new contract
obtained other than the above.
The gross profit and gross margin of the Group for the Year
was HK$145 million and 18% respectively (2016: HK$210
million and 20% respectively). As disclosed in the last Annual
Report and Interim Report of the Company, despite the
relatively large size of the Hospital Expansion project contract,
more than half of the contract value was related to non-bored
piling works, which were sub-contracted and the margin of
these works was relatively low. In addition, the gross profit
margin of the Group was squeezed by the overhead costs in
relation to equipment depreciation and labour.
The Group’s net profit for the Year was HK$79 mill ion,
representing a decrease of 48% (2016: HK$153 million). The
decrease was mainly due to a drop in contract revenue and
profit margin as discussed above.
董事會欣然呈報本集團截至2017年3月31
日止年度（「本年度」╱「2017年」）的年度
業績，連同截至2016年3月31日止上年度
（「去年」╱「2016年」）的比較數據。
業務回顧及展望
集團收入及溢利
於本年度，本集團的收入為818,000,000
港元，較去年（2016年：1,061,000,000港
元）減少23%。誠如本公司上一份年報及
中期報告所述，由於立法會拉布導致本港
公共基礎建設工程項目撥款積壓待批，本
年度可投標項目數量有限。隨著澳門綜合
發展項目於去年竣工，於本年度，本集團
繼續推進香港三個項目的工作，即黃大仙
區商住發展項目、蓮塘╱香園圍口岸項目
及醫院擴建項目。除此之外，由於本年度
並無獲授予新合約，本集團的收入有所下
降。
於本年度，本集團的毛利及利潤率分別
為145,000,000港元及18%（ 2016年：
210,000,000港元及20%）。誠如本公司上
一份年報及中期報告所披露，儘管醫院擴
建項目的合約規模較大，但有關非鑽孔樁
（超過一半合約價值）的工程已外判，而此
等外判工程的利潤率亦相對較低。加上，
有關設備折舊及員工工資的間接成本令本
集團的整體利潤進一步受壓。
於本年度，本集團的純利為79,000,000港
元，減幅48%（ 2016年：153,000,000港
元），純利減少主要是由於上文所討論合
約收入及利潤率減少所致。
8
ANNUAL REPORT 2017
SAM WOO CONSTRUCTION GROUP LIMITED
管理層討論與分析
Management Discussion and Analysis
Major Projects during the Year
Completion
status as at
31 March 2017
Expected
completion
date
Estimated
remaining
of works
value
於2017年
3月31日
完成的狀況 預期完成日期
預計餘下
工程金額
(HK$)
（港元）
(Note)
（附註）
Proposed Commercial/Residential
Development in Wong Tai Sin District
Around 40% Mid-2018 80 million
黃大仙區商住發展項目 大約4成 2018年中 8,000萬
Liantang/Heung Yuen Wai Boundary
Control Point
Almost completed Mid-2017 13 million
蓮塘╱香園圍口岸項目 接近完成 2017年中 1,300萬
Hospital Expansion Around 40% 2019 900 million
醫院擴建項目 大約4成 2019年 9億
Note:
The above remaining of works were determined with reference to
internal estimates based on currently available information and may be
subsequently revised.
本年度主要項目
附註：
以上餘下工程金額乃參照目前資訊所作出的
內部估計，稍後有可能更改。
9
三和建築集團有限公司
二零一七年年報
管理層討論與分析
Management Discussion and Analysis
Proposed Commercial/Residential Development in Wong Tai
Sin District
This project involving installation of lateral support works
was awarded in April 2015. The total contract value is
about HK$320 million (including contingent payment and/or
provisional sum), with the first phase valued at an estimated
HK$140 million. As mentioned in the last Annual Report and
Interim Report, certain technical complications in the first
phase of the project had commanded part of the works to
be re-designed and re-scheduled. As a result, only a minimal
amount of contract works was carried out during the Year.
As at 31 March 2017, around 40% of the first phase of
installation of lateral support works for the project was
completed. The remaining 60% of the works are expected to
be completed by mid-2018.
Liantang/Heung Yuen Wai Boundary Control Point
The Liantang/Heung Yuen Wai Boundary Control Point is part
of the Hong Kong boundary crossing facilities managed by the
Civil Engineering and Development Department. The Group
signed a pre-bid agreement in relation to the bored piling
subcontractor works with the main contractor at the time of the
tender in 2013. Funding of the project was finally approved by
the Legislative Council in June 2015 and the relevant contracts
were subsequently awarded.
As mentioned in the last Annual Report and Interim Report,
subsequent changes were made to the design plans of the
project after the Group had started work on the construction
sites. Based on the design available in early 2016, the original
estimated value of the works was about HK$470 million.
During the Year, based on the latest available information, the
estimated value of the works is increased to about HK$560
million.
As at 31 March 2017, the works for the project were almost
completed and generated revenue amounting to around 48%
of the Group’s total revenue for the Year. According to the
latest works programme, the remaining small portion of the
project is expected to be completed around mid-2017.
黃大仙區商住發展項目
本集團在2015年4月份獲得此份側向承托
工程的合約，合同總額約億港元（包括
或然款項及╱或暫定金額），首階段工程
量估計為億港元。誠如上一份年報及
中期報告所述，基於項目首階段工程中的
若干技術上原因，部分工程須重新設計及
重新編排進度，因此本年度只進行少量合
約工程。
截至2017年3月31日，項目首階段側向承
托工程已進行大約4成，其餘6成的工程預
計於2018年中完成。
蓮塘╱香園圍口岸項目
蓮塘╱香園圍口岸項目屬於土木工程署
管理的香港口岸工程的一部分。本集團在
2013年已與當時投標的總承建商訂立有
關鑽孔樁分包工程的投標前協議。此項目
撥款在2015年6月終獲立法會通過，隨後
並授出相關工程合約。
誠如上一份年報及中期報告所述，項目的
設計圖則於本集團在建築地盤施工後有所
變更。根據2016年初所得的設計，原估計
工程金額約為億港元。本年度，根據
最新資料，估計工程金額將增至約億
港元左右。
截至2017年3月31日，此項目工程接近完
成，並佔本集團本年度總收入約48%。根
據最新的工程計劃，預計此項目餘下的小
部分將於2017年中左右完成。
10
ANNUAL REPORT 2017
SAM WOO CONSTRUCTION GROUP LIMITED
管理層討論與分析
Management Discussion and Analysis
Hospital Expansion
In July 2015, the Group was awarded the main contract for
foundation and associated works of United Christian Hospital
by the Hospital Authority. The contract is valued at HK$1,780
million, and after deducting all contingent and/or provisional
sums, the actual revenue is estimated at approximately
HK$1,400 million.
More than half of the project value is for demolition of existing
buildings, site formation and road reconstruction to prepare for
expansion of the hospital. Construction of the foundation piles
accounts for the remaining contract value.
This project contributed revenue amounting to about 49% of
the Group’s total revenue during the Year. The works carried
out during the Year included primarily demolition of existing
buildings and bore piling works for new buildings.
As at 31 March 2017, around 40% of the project was
completed and the entire Hospital Expansion project will last
around four years till 2019.
Business Outlook and Recent Development
As discussed in the last Annual Report and Interim Report, as
a result of the delays in funding approval of public works and
infrastructure projects because of filibusters in the Legislative
Council, there was fierce price competition for tenders in the
construction market during the Year. Furthermore, the tenders
available for the Group to bid were limited. To cope with the
less than desirable circumstance, the Group has scaled down
its workforce and overhead costs heeding the size and stage
of ongoing projects. The management is mindful of market
conditions and is prepared for the low season to prevail for the
ensuing year before the construction market warms up again at
the clearing of the public projects backlog.
醫院擴建項目
本集團在2015年7月獲得醫院管理局授予
聯合醫院地基工程及相關服務的主合約。
本合約價值億港元，而在扣除或然
及╱或暫定款項後，實際收入估計約為14
億港元。
此項目按價值計有超過一半為拆卸原有建
築物、進行地盤平整及道路改建作醫院擴
建的準備工作，而其餘為建造地基樁柱部
分。
此項目收入佔本集團於本年度總收入約
49%。於本年度所進行的工程主要是拆卸
現有樓宇及新樓宇鑽孔樁工程。
截至2017年3月31日，項目已進行大約4
成的工程，整個醫院擴建項目將為期約4
年直至2019年。
業務展望及近期發展
誠如上一份年報及中期報告所討論，立
法會拉布導致公共基礎建設工程項目延
遲批出，本年度建造業的工程造價競爭激
烈。此外，本集團可競投的項目有限。為
應付以上挑戰，本集團縮減人手及經常性
開支，抓緊進行中項目的規模及進度。管
理層密切注視市場情況，靜待積壓的公共
工程項目獲批出，在業內市況再度回暖之
前，預備面對未來一年的淡季。
11
三和建築集團有限公司
二零一七年年報
管理層討論與分析
Management Discussion and Analysis
Currently, the Group is maintaining a healthy financial position,
and has sufficient reserves of foundation machinery and
equipment as well as a pool of professional management
personnel and skilful labour to meet the requirement of
projects in the tender pipeline. With the government keen in
the roll out of the Hong Kong 2030+ Development Strategy,
the management believes the demand for housing and
infrastructure will continue to be strong, adding to the large
number of projects to be tabled in the Legislative Council and
the various development plans covered in the 2016 and 2017
Policy Address.
Investment in property holding companies
On 29 March 2017, the Group signed a sale and purchase
agreement to acquire 5% of the entire issued share capital
of Gold Champion Enterprises Limited (“Gold Champion”) for
a cash consideration of HK$19,750,000, subsequent to the
announcement on 20 October 2016 regarding a memorandum
of understanding signed between the two companies about
exploring potential co-operation for land development on
certain pieces of land in Hong Kong held by Gold Champion.
The sale and purchase agreement was completed on 31 March
2017.
Gold Champion owns two residential land parcels in Yuen Long
and one industrial land parcel in Fanling. The total gross floor
area of the Residential Lands is about 14,270 square metres
and that of the Industrial Land is about 1,860 square metres.
The aggregate market value of the three land parcels as at 20
March 2017 was HK$432,000,000, according to a valuation
report issued by an independent valuer.
Bringing to the partnership its wealth of expertise, skills and
experience in construction, the Group expects the co-operation
with Gold Champion to open business opportunities for it and
drive the development of its business.
目前，本集團維持穩健的財務狀況，並擁
有充裕的地基機器及設備儲備，以及專業
的管理團隊及熟手技工以應付籌劃中招標
項目的要求。政府積極推行香港2030+發
展策略，在立法會待批的大量項目，加上
2016年和2017年施政報告涵蓋的各項發
展計劃的基礎上，管理層相信，房屋及基
建的需求持續強勁。
於物業控股公司的投資
繼2016年10月20日就兩間公司簽訂諒
解備忘錄以開拓有關由Gold Champion
Enterprises Limited（「Gold Champion」）
於香港持有的若干土地的潛在合作機遇
後，本集團於2017年3月29日簽訂買賣協
議，以收購Gold Champion全部已發行股
本5%，現金代價為19,750,000港元。買
賣協議已於2017年3月31日完成。
Gold Champion於元朗擁有兩幅住宅用
地，並於粉嶺擁有一幅工業用地。該兩
幅住宅用地總建築面積約14,270平方
米，而工業用地總建築面積約1,860平方
米。根據獨立估值師發出的估值報告，
於2017年3月20日，三幅土地的總市值為
432,000,000港元。
藉著與Gold Champion建立夥伴關係，本
集團將受惠於其在建造業的專業知識、技
術及經驗，預期彼此的合作將帶來更多商
機，並推動本集團業務發展。
12
ANNUAL REPORT 2017
SAM WOO CONSTRUCTION GROUP LIMITED
管理層討論與分析
Management Discussion and Analysis
FINANCIAL REVIEW AND ANALYSIS
Despite the decrease in revenue and profit, as discussed
above, the Group’s financial position remained healthy for the
Year. The current ratio was times (2016: times) and the
total cash and bank balance was approximately HK$369 million
as at 31 March 2017 (2016: HK$221 million). The Group had
a net cash position as at 31 March 2017 (2016: net gearing
of 13%). The Group also maintained a stable dividend payout
ratio at about 32% for the Year (2016: 33%).
Administrative Expenses
Administrative expenses increased by 22% from approximately
HK$37 million to approximately HK$45 million for the Year.
In the Previous Year, however, administrative expenses were
partly offset by the recovery and write back of costs and
provision after certain litigations were concluded. If legal and
professional fees in both years were excluded, administrative
expenses for the Year would have been remained stable.
Finance Cost
Finance cost for the Year was approximately HK$ million,
representing a decrease of approximately 12% compared to
approximately HK$ million in the Previous Year.
財務回顧及分析
儘管如上文所討論收入及溢利有所下降，
於本年度，本集團的財務狀況維持穩健。
於2017年3月31日，流動比率維持於倍
的穩定水平（2016年：倍），現金及銀行
結餘總額約為369,000,000港元（2016年：
221,000,000港元）。本集團於2017年3月
31日錄得淨現金水平（2016年：淨資產負
債比率為13%）。於本年度，本集團亦維持
穩定的派息率，約32%（2016年：33%）。
行政開支
於本年度，行政開支由約37,000,000港元
增加22%至約45,000,000港元。然而，去
年的行政開支部分因若干訴訟結案所收回
及撥回成本及撥備而被抵銷。倘撇除兩個
年度的法律及專業費用，行政開支一直維
持穩定。
財務費用
本年度的財務費用約10,300,000港元，較
去年約11,700,000港元減少約12%。
13
三和建築集團有限公司
二零一七年年報
管理層討論與分析
Management Discussion and Analysis
Taxation
The effective tax rate of the income tax expense for the Year
was 13% (2016: 8%). Unlike the Previous Year, about 99%
of the construction revenue for the Year was generated from
Hong Kong projects, with the assessable profit subject to a
% tax rate in Hong Kong. The lower effective tax rate in
the Previous Year was resulted mainly because (i) about 60% of
the construction revenue was generated from a major project in
Macau and the statutory tax rate there was lower than in Hong
Kong; and (ii) there was rental income earned by subsidiaries in
Hong Kong in relation to leasing of machinery and equipment
for use in Macau projects, which was regarded as offshore
income and therefore not subjected to taxation in Hong Kong
and Macau.
Profit and Net Profit Margin
As a result, the Group’s profit after tax was approximately
HK$79 mi l l ion (2016: HK$153 mi l l ion), represent ing a
year-on-year decrease of approximately 48%. Net profit margin
was 10% (2016: 14%).
Capital Expenditures and Capital Commitments
The Group generally finances its capital expenditures by
internal resources, long-term bank loans and finance leases.
The Company also secured additional financial resources
from its listing in 2014. During the Year, the Group invested
approximately HK$53 million in machinery and equipment. As
at 31 March 2017, the Group’s capital commitments relating
to purchase of machinery and equipment was nil (2016: HK$4
million).
During the Year, save as disclosed herein, the Group did not
make any material acquisitions or disposals of assets.
稅項
本年度的實際所得稅稅率約為13%（2016
年：8%）。有別於去年，本年度約99%的
工程收入源自香港項目，須就應課稅溢利
按香港利得稅率%繳稅。去年較低的
實際稅率主要由於(i)約60%的工程收入源
自澳門一項主要項目，澳門的法定稅率較
香港低；及(ii)香港附屬公司就租賃機械設
備供澳門項目使用所賺取的租賃收入為離
岸收入而毋須繳納香港及澳門稅項。
溢利及淨利潤率
因 此 ， 本 集 團 的 除 稅 後 溢 利 約 為
79,000,000港元（2016年：153,000,000
港元），按年減少約48%。淨利潤率為
10%（2016年：14%）。
資本開支及資本承擔
本集團一般透過內部資源、長期銀行貸款
及融資租賃撥付其資本開支。本公司亦自
2014年上市獲得額外財務資源。經考慮
日後潛在項目需要後，本集團於本年度投
資約53,000,000港元購置機械及設備。於
2017年3月31日，本集團有關購置機械及
設備的資本承擔合共為零港元（2016年：
4,000,000港元）。
於本年度，除此披露外，本集團並無其他
任何重大資產購置及出售。
14
ANNUAL REPORT 2017
SAM WOO CONSTRUCTION GROUP LIMITED
管理層討論與分析
Management Discussion and Analysis
Liquidity, Financial Resources and Gearing
Liquidity
The Group generally meets its working capital requirements
by cash flows generated from its operations and short-term
borrowings. During the Year, the Group generated from
operating activities a net cash inflow of approximately HK$295
million, which was more than that in the Previous Year (2016:
HK$190 million). That was mainly because the about HK$204
million trade receivables outstanding at 31 March 2016 were
collected during the Year. Together with short-term bank loans
and overdraft facilities available, the Group’s daily operations
had been financially sound throughout the Year.
Use of Proceeds
All of the remaining net proceeds from the IPO in the amount
of HK$52 million as at 31 March 2016 was applied in acquiring
machinery and equipment during the Year in accordance with
intended uses. Thus, as at 31 March 2017, the Company had
no remaining net proceeds from its IPO.
Cash and Bank Balances
As at 31 March 2017, the Group had a total cash and bank
balances of approximately HK$369 million (2016: HK$221
million) mainly denominated in Hong Kong dollars and Macau
patacas. The increase in cash and bank balances was mainly
due to the net cash generated from operating activities during
the Year.
流動資金、財務資源及資產負債比率
流動資金
本集團一般以其經營產生的現金流及
短期借貸撥付其營運資金需求。於本
年度，本集團經營活動產生的現金流
入 淨 額 約295 ,000 ,000港 元，高 於 去
年 的190 ,000 ,000港 元，主 要 是 由 於
2016年3月31日未償還應收貿易款項約
204,000,000港元已於本年度收回。加上
短期貸款及備用銀行透支，本集團於本年
度的日常營運維持財政穩健。
所得款使用情況
首次公開發售所得款項淨額於2016年3月
31日的全數餘額52,000,000港元在本年度
已根據擬定用途用作購置機械及設備。因
此，於2017年3月31日，本公司並無餘下
的首次公開發售所得款項淨額。
現金及銀行結餘
於2017年3月31日，本集團的現金及銀行
結餘總額約為369,000,000港元（2016年：
221,000,000港元），主要以港元及澳門幣
計值。現金及銀行結餘增加主要源自本年
度經營活動產生的現金淨額。
15
三和建築集團有限公司
二零一七年年報
管理層討論與分析
Management Discussion and Analysis
Borrowings
As at 31 March 2017, the Group had total borrowings
of approximately HK$252 mill ion (2016: HK$288 mill ion)
denominated in either Hong Kong dollars or Euros. Borrowings
generally include short-term and long-term bank loans, finance
leases and overdrafts bearing floating interest rates. Of the
total borrowings, approximately HK$137 million (2016: HK$36
million) were short-term bank loans and bank overdrafts and
approximately HK$62 million (2016: HK$118 million) was
the current portion of long-term bank loans and obligations
under finance lease with maturity dates within 12 months.
This analysis excludes those long-term borrowings with an
immediate demand clause that were classified under current
liabilities.
Gearing Ratio and Total Equity
As at 31 March 2017, the Group had a net cash position
(2016: net gearing of 13%) (net borrowings divided by total
equity). The Group’s net cash position was mainly attributable
to the profits from operations and the reduction in capital
expenditure on machinery and equipment. For the purpose
of calculating the Group’s net gearing ratio, net borrowings
refer to the total borrowings less cash and cash equivalents,
short-term bank deposits and restricted bank balances
pledged as security for credit facilities of the Group.
As at 31 March 2017, the Group’s net current assets were
approximately HK$169 million (2016: HK$232 million) and
current ratio (current assets divided by current liabilities) was
times (2016: times). The Group’s total equity as at 31
March 2017 was approximately HK$696 million (2016: HK$655
million).
借款
於2017年3月31日，本集團借款總額約
252,000,000港元（2016年：288,000,000
港元），以港元或歐元計值。借款一般
包括短期及長期銀行貸款、融資租賃
及透支，並按浮動利率計息。於借款總
額中，約137,000,000港元（ 2016年：
36,000,000港元）為短期銀行貸款及銀
行透支，及約62,000,000港元（2016年：
118,000,000港元）為長期銀行貸款及融資
租賃責任的即期部分，根據各自到期日於
12個月內到期。此分析不包括訂有可要求
即時還款之條文而分類為流動負債的有關
長期借款。
資產負債比率及權益總額
於2017年3月31日，本集團錄得淨現金水
平（2016年：淨資產負債比率（按借款淨
額除以權益總額計算）為13%）。本集團錄
得淨現金水平主要是由於營運產生溢利以
及機械及設備的資本開支減少所致。就計
算本集團的淨資產負債比率而言，借款淨
額指借款總額減去現金及現金等價物、短
期銀行存款以及作為本集團循環貸款的抵
押的受限制銀行結餘。
於2017年3月31日，本集團的淨流動
資產約為169,000,000港元（ 2016年：
232,000,000港元），而流動比率（按流動
資產除以流動負債計算）為倍（2016
年：倍）。於2017年3月31日，本集團
的權益總額約為696,000,000港元（2016
年：655,000,000港元）。
16
ANNUAL REPORT 2017
SAM WOO CONSTRUCTION GROUP LIMITED
管理層討論與分析
Management Discussion and Analysis
Foreign Exchange Exposure
Operations of the Group are mainly conducted in Hong Kong
dollars and Macau patacas. The Group’s revenue, expenses,
cash and bank balances, borrowings, other monetary assets
and liabilities are also principally denominated in those two
currencies. Other than the purchase orders for machinery
and equipment paid in Euros and Singapore dollars and such
short-term Euros borrowings for settlement, the Group was not
exposed to any significant foreign currency risk and had not
employed any financial instrument for hedging.
Contingent Liabilities
As at 31 March 2017, save for guarantees of performance
bonds relating to two foundation works and ancillary services
projects of the Group of approximately HK$18 million and
HK$17 million, respectively (2016: same), the Group did not
have any material contingent liabilities. The performance bonds
are expected to be released in accordance with the terms of
the respective construction contracts.
Pledge of Assets
As at 31 March 2017, the net book amount of plant and
equipment held under finance leases and pledged for long-term
bank loans was approximately HK$124 million (2016: HK$210
million) and approximately HK$123 million (2016: HK$139
million), respectively. None of the banking facilities of the Group
were secured by the Group’s bank deposits (2016: none).
外幣風險
本集團的營運主要以港元及澳門幣進行。
本集團的收入、開支、現金及銀行結餘、
借款、其他貨幣資產及負債亦主要以港元
及澳門幣計值。除了本年度內購置機械及
設備的訂單以歐元及新加坡元支付以及就
有關結算而動用的相關短期歐元借款外，
本集團並無重大外幣風險，亦無採用任何
金融工具作對沖用途。
或然負債
於2017年3月31日，除有關本集團兩項地
基工程及附屬服務項目的履約保函擔保
分別約18,000,000港元及17,000,000港元
（2016年：相同）之外，本集團並無其他任
何重大或然負債。該等履約保函預計將根
據各建築合約的條款解除。
資產抵押
於2017年3月31日，根據融資租賃持有及
質押獲得長期銀行貸款的機械及設備的賬
面淨值分別為約124,000,000港元（2016
年：210,000,000港元）及約123,000,000
港元（ 2016年：139,000,000港元）。本
集團沒有銀行信貸由本集團的銀行存款
（2016年：無）作抵押。
17
三和建築集團有限公司
二零一七年年報
管理層討論與分析
Management Discussion and Analysis
RELATIONSHIPS WITH CUSTOMERS, SUPPLIERS AND
EMPLOYEES
Customers
The Group emphasises its ability to deliver quality work on time
to customers and within the pre-determined project budget.
To execute the quality assurance policy of the Group, we
have maintained a quality management system which follows
the ISO 9001 standards. Quality assurance functions are
performed throughout the foundation works process from the
construction materials procurement stage to the completion
stage to ensure that the foundation works and ancillary
services meet the standards required by each customer. In
addition, members of our management team communicate
with our customers on a regular basis during the course of a
project to better understand and respond to our customers’
specific requirements. As our foundation business operates
on a non-recurring and project-by-project basis, we have not
entered into any long-term master contract with any of our
major customers. However, through this continued relationship
development, our Group aims to attract further business
from these customers and referrals from these customers.
Our directors consider that our Group has established good
relationship with our customers by delivering constructive
solutions and quality service to them.
Suppliers
We enter into contracts with our suppliers for construction
materials and subcontractors on a project-by-project basis
without a long term contract. Meanwhile, we maintain a
pre-approved list which admission is subject to assessment
of their background (including track record, pricing, market
reputation, timely delivery, financial conditions and after-sales
service) and the satisfactory quality of their construction materials,
and review and update the list from time to time. We also
acquired machinery and equipment from Asian and European
manufactures. We will check the product qualities and make
payments according to the contract terms. The directors consider
that we have maintained good business relationships with these
suppliers, subcontractors and manufacturers. During the year,
there was no material delay or dispute related to them causing
disruption to our operations. Some of them also have developed
good trading history of over years with our Group.
與客戶、供應商及僱員的關係
客戶
本集團強調按時及在項目的預算內向客戶
交付優質工程的能力。為執行本集團的質
保政策，我們已採取符合ISO 9001標準的
質量管理系統。質量保證職能從採購建築
材料階段到完成的各個階段均貫徹採納，
以確保地基工程及附屬服務可達到各客戶
要求的標準。此外，於項目過程中，我們
的管理團隊成員與客戶保持定期溝通，以
便深入了解及回應客戶的具體要求。由於
本集團的地基業務以非經常性及以項目為
單位營運，我們並無與任何主要客戶訂立
任何長期綜合合約。然而，透過這種持續
的關係發展，本集團旨在從該等客戶招攬
更多的業務及客戶的轉介。董事認為，本
集團已透過向客戶提供建設性的解決方案
及優質服務，與客戶建立起良好的關係。
供應商
我們按逐項基準就建築材料與供應商訂
立合約並與分包商訂約，且並無訂立長
期合約。同時，我們列有一份預先認可名
單，獲納入該名單前，供應商必須先通過
就彼等背景（包括往績記錄、價格、市場
聲譽、準時交付情況、財務狀況及售後服
務）及彼等建築物料質量是否令人滿意所
作的評估，本集團不時檢討及更新該名
單。我們亦向亞洲及歐洲製造商購置機械
及設備。我們將檢查產品質量並根據合約
條款付款。董事認為，我們一直與該等供
應商、分包商及製造商維持良好業務關
係。年內，並無有關彼等的任何重大延遲
或爭議對本集團業務造成干擾。彼等當中
有多個已經與本集團合作多年。
18
ANNUAL REPORT 2017
SAM WOO CONSTRUCTION GROUP LIMITED
管理層討論與分析
Management Discussion and Analysis
Employees
We believe that our employees are important assets to our
Group. Our directors recognise the importance of attracting
and retaining staff by providing a healthy and safe working
environment and job security. Our staff receive training to
enable them to acquire the prerequisite skills and knowledge
on health and safety related procedures before they are
assigned to carry out foundation works and ancillary services
on sites. Our Group also performs regular maintenance checks
on the machinery and equipment since our Group regards
regular maintenance as an important element to ensure safety
at the work sites. There was no fatal accidents happened in
the Group’s projects during the year and the accident rate was
lower than the industry average for the construction industry.
As at 31 March 2017, the Group had approximately 210
(2016: 250) employees. The remuneration package we offer
to our employees includes salary, discretionary bonuses and
allowances. In general, we determine employee salaries based
on the individual’s qualifications, position and performance
(where applicable). We have designed an appraisal system to
assess the performance of our employees, which forms the
basis of our decisions with respect to salary raises, bonuses
and promotions. Our directors believe that the relationship
and co-operation between our management team and our
employees has been good.
僱員
我們相信，僱員乃本集團的重要資產。本
集團董事認識到透過提供一個健康及安全
的工作環境及工作保障對吸引及挽留員工
的重要性。我們的員工在被派往地盤開展
地基工程及附屬服務前已接受培訓，以便
能掌握有關健康及安全流程的必要技能及
知識。本集團亦對機械及設備進行定期檢
修，因為我們將定期保養和檢查視為確保
工程地盤安全的要素。年內本集團的項目
內並無發生致命事故，且事故率低於建築
行業的行業平均水平。
於2017年3月31日，本集團有約210名
（2016年：250名）僱員。我們提供予僱員
的酬金組合包括薪金、酌情花紅及津貼。
在通常情況下，我們根據僱員的個人資
歷、職位及表現（倘適用）來釐定其薪金。
我們設計了一套審核制度，以評估僱員的
表現，並據此決定其加薪幅度、花紅及晉
升。董事相信，我們管理團隊與僱員之間
的關係與合作保持良好。
19
三和建築集團有限公司
二零一七年年報
管理層討論與分析
Management Discussion and Analysis
ENVIRONMENTAL POLICIES
Our Group also places an emphasis on environmental
protection when undertaking our foundation works and
ancillary services. Our Group’s activities are performed with
the utmost attention to quality, safety and with respect to the
environment. It is the policy of our Group to ensure that all
its activities are carried out in a manner that causes minimum
adverse impact on the environment through the establishment
and implementation of a management system which aims to
achieve environmental targets, comply with environmental
legislation and regulations, foster employees’ awareness
of their responsibilities for the environment; and review the
Group’s performance in respect of environmental matters and
strive to achieve continual improvement of its performance
and prevention of pollution. Trainings are provided to all staff
including the sub-contractor staff on the statutory and other
relevant requirements on environment and the implications of
not complying therewith.
In recognition of the policies and procedures undertaken by
our Group to address potential environmental issues with its
foundation works and ancillary services, in particular, large
diameter bored piles (with bell-out) and rock socketed steel
H-piles in pre-bored holes, our Group was awarded the ISO
14001:2004 (environment management system accreditation)
and renewed the certificate after passing the relevant audits
conducted by external certification body. Our Group also
implements an ISO 50001-based EnMS (energy management
system) that helps us to ascertain our current status of energy
use in order to devise corresponding measures to promote
efficient energy use in machinery and facilities and to formulate
a clear framework to promote continual improvement in energy
management and raise staff awareness on energy efficiency
and conservation. Our Group also monitors continuously on
the compliance with the customer’s environmental protection
requirements and relevant laws and regulations. During the
year, our Group had not been prosecuted by any governmental
author i ty for any purported breach of any appl icable
environmental laws and regulations.
環保政策
本集團於承接地基工程及附屬服務時亦着
重環境保護工作。本集團業務執行過程中
尤為注重質量、安全及環保。本集團的政
策為透過建立及實施管理系統，以對環境
造成最小不利影響的方式進行所有其業
務，該管理系統旨在達成環保目標、符合
環保法律及法規、培養員工的環保責任意
識，並檢討本集團有關環保事宜的表現，
致力實現其業績表現的持續改善並防止污
染。本集團就環保的法定及其他相關規定
以及不遵守該等規定的影響向全體員工
（包括分包商的員工）提供培訓。
本集團獲頒發ISO 14001：2004（環境管
理體系認證），以認可本集團為解決地基
工程及附屬服務（尤其是大口徑鑽孔擴底
樁及套入岩石鋼樁）涉及的潛在環境問題
而採取的政策及流程，並經通過外部審核
公司進行的相關審核後，重續證書。本集
團並已實施ISO 50001能源管理體系，可
以協助我們了解現行能源使用狀況，以制
訂機械和設備使用相應的善用能源措施和
框架，促進持續改善能源管理，提高員工
對能源效益和節能的意識。本集團亦就遵
守客戶的環保要求及相關法律及法規進行
持續監控。年內，本集團並無因任何指稱
違反任何適用環境法律及法規而被任何政
府機關起訴。
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ANNUAL REPORT 2017
SAM WOO CONSTRUCTION GROUP LIMITED
企業社會責任報告
Corporate Social Responsibility Report
報告範圍
本年度報告涵蓋三和建築集團有限公
司（下稱本集團）截止2017年3月31日止
年度位於香港的營運點，報告的時段為
2016/17年財政年度（ 2016年4月1日至
2017年3月31日），與本集團的年報報告
期一致。
本報告依據《香港聯合交易所有限公司證
券上市規則》附錄27《環境、社會及管治報
告指引》編撰，為公司首份依循該指引編
撰的環境、社會及管治報告，並按指引中
「不遵守就解釋」的要求作出一般披露。
與持份者溝通
本集團設立多種與投資者溝通的渠道，
務求令投資者能充分掌握本集團的最新
動態，其中包括業績發佈、年報及中期報
告、會議、公司刊物及公司網站。本集團
亦經常與客戶及承判商等以會議、電話會
議、電郵等方式保持緊密聯繫，他們亦可
通過參閱有關本集團的刊物瞭解更多的資
訊。
A 環境
A1 排放物
本集團致力於控制在建築工程所產
生的排放物並嚴格遵守相關的環保
法例以減少對環境的污染。同時，
本集團已獲得ISO 14001環境管理
體系認證以認可本集團業務範圍內
對環境問題所採取的控制措施及
管理。對於建築過程中產生的污水
如需要排放，會先經過污水處理池
處理以確保符合污水排放牌照的條
件，再經污水渠排放。而建築產生
的廢物主要會運到堆填區作處置。
此外，工地主要採用灑水等措施以
減少工程塵埃所造成的污染。所有
在工地使用到的機械設備均符合環
保署的規定。為改善空氣質素並響
應環保署的措施，本集團正積極更
換歐盟II期柴油工程用車以減少排放
可吸入懸浮粒子和氮氧化物。
SCOPE OF REPORTING
This report covers the operating unit, situated in Hong Kong,
of Sam Woo Construction Group Limited (“the Group”) as of
31 March 2017. The reporting period is the 2016/17 financial
year (1 April 2016 to 31 March 2017), which is consistent with
the annual report reporting period of the Group.
This report is prepared in accordance with Appendix 27
Environmental, Social and Governance Reporting Guide of the
Rules Governing the Listing of Securities of the Stock Exchange
of Hong Kong Limited. This is the Group’s first Environmental,
Social and Governance report to follow the guide, and has
made general disclosures in accordance with the “Comply or
Explain” requirements set out in the guide.
STAKEHOLDERS COMMUNICATION
The Group has set up a wide range of channels to
communicate with investors so that they are able to fully grasp
the latest developments of the Group. Such channels include
result announcements, annual and interim reports, meetings,
the Group publications and website. In addition, the Group
maintains close contact with customers and contractors
through meetings, telephone conferences and e-mails. More
information can also be found through publications about the
Group.
A ENVIRONMENT
A1 Emissions
The Group focuses on the control of emissions from
construction work and has strictly complied with the
relevant environmental laws to reduce environmental
pollution. Furthermore, the Group has certif ied the
ISO 14001 Environmental Management System which
recognizes the control measures and management the
Group has taken towards the environmental issues
concerned within the Group’s scope of business. The
sewage produced from construction that needs to
be discharged would first be treated at the sewage
treatment tank, to ensure it meets the requirements of
the sewage discharge license, and would subsequently
be discharged through sewage drains. Waste generated
from construction would be transported to the landfill for
disposal. Moreover, watering and other such measures
would be used at the construction site to reduce pollution
created from construction dust. All machineries used
at the construction site meet the requirements from the
Environmental Protection Department (EPD). To improve
air quality and in response to the EPD’s measures,
the Group has been actively replacing Euro II Diesel
Engines used for construction vehicles in order to reduce
emissions of respirable suspended particulates and
nitrogen oxide.
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三和建築集團有限公司
二零一七年年報
企業社會責任報告
Corporate Social Responsibility Report
為減少碳排放，本集團在選擇供應
商或承建商時，除非不能達到我們
規定的要求，否則我們會優先選擇
本地承辦商。此外，我們亦會使用
電話會議和電子郵件來盡量取代差
旅。
本集團嚴格遵守相關的環保法例，
期內未有因為違反與環保相關法例
而被檢控的個案。
A2 資源使用
資源再用、減少浪費是本集團對資
源有效使用的原則。辦公室的照明
及空調系統採用分區控制。本集團
又大力推廣紙張以雙面列印及複
印，盡量減少浪費。為提倡環保，
本集團又會提供物料分類回收區
域，並定下目標，以有效落實減廢
回用。與此同時，在辦公區域內，
我們會通過通告板向員工推廣減少
用水和減少用紙。
除辦公室外，建築工地亦採取多項
措施以增加資源使用效益。本集團
會按工程實際需要計劃採購的材
料和物資，並記錄用量以便監察，
避免因欠缺管理而導致浪費。當工
程項目完工後，狀態良好的工具及
裝備會帶回倉庫，以備其他工程再
用。此外，本集團亦自設機器維修
保養團隊，按計劃定期進行日常檢
查和保養以提升能源效益及減慢機
器損壞，延長工作壽命。
To reduce carbon emissions, during the selection of
suppliers and contractors, the Group would give priority
to local contractors unless they are not able to meet
our specified requirements. In addition, we would use
telephone conference and e-mails to replace business
travels as much as possible.
The Group has strictly complied with the relevant
environmental laws, and there have been no cases of
prosecution due to violation of the relevant environmental
laws during this period.
A2 Use of Resources
Reusing resources and reducing waste are the Group’s
principles for effective use of resources. Lighting and
air-conditioning systems in the office have zoning control.
The Group also actively encouraged double-sided printing
and copying to reduce as much waste as possible.
To promote environmental protection, the Group also
provided a material sorting and recycling area, and has
set objectives to effectively implement waste reduction
and reuse. Furthermore, within the office area we would
encourage employees to use less water and paper
through the bulletin board.
In addition to the office, construction sites have also
implemented measures to increase the efficiency of
resources use. The Group would procure materials based
on the actual needs of the project and would record the
quantity used for monitoring to prevent wastage due
to lack of management. After completion of a project,
tools and equipment that are in good condition would be
transported back to the warehouse to be used for other
projects. Furthermore, the Group has set up a machinery
repair and maintenance team that carries out regular
inspections and maintenance in order to increase energy
efficiency and slow down the damage and prolong the
working life of the machineries.
22
ANNUAL REPORT 2017
SAM WOO CONSTRUCTION GROUP LIMITED
企業社會責任報告
Corporate Social Responsibility Report
A3 環境及天然資源
為減少建築工程對環境所帶來的影
響及破壞，本集團針對工序中產生
的污水，會通過污水處理池進行處
理，再輸送回工地內作減塵灑水及
清洗裝備之用，此措施既可減少用
水，亦有助控制污染。機器設備方
面，本集團全面採用高能源效益的
柴油以大大減低燃油的消耗。而當
需要購置大型機器時，亦會考慮高
能源效益及較少排放的型號以支持
環保。
另一方面，本集團鼓勵員工使用電
子檔以代替使用紙張以降低紙張使
用量，並提倡使用再造紙以響應珍
惜地球資源。而碳粉匣會安排由供
應商作回收，減少危險廢棄物的產
生。
A3 The Environment and Natural Resources
To minimize the impact and damage that construction
works have on the environment, sewage produced during
the construction process would be treated through
a sewage treatment tank, then transported back to
the construction site for watering to reduce the dust
and for equipment cleaning. This method has reduced
the use of water and helped control l ing pollution.
Regarding machinery and equipment, the Group has
fully utilised energy efficient diesel fuel to greatly reduce
fuel consumption. When there is a need in purchasing
large machinery, the Group would consider models that
are energy efficient and low in emissions to support
environmental protection.
In addition, to treasure the earth’s resources, the Group
has encouraged employees to use electronic files in
place of paper to reduce paper usage and has promoted
the use of recycled paper. Toner cartridges would be
collected by the supplier to minimize the production of
hazardous waste.
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三和建築集團有限公司
二零一七年年報
企業社會責任報告
Corporate Social Responsibility Report
B 社會
B1 僱傭
本集團的僱傭政策以平等機會為原
則，其目標在於無歧視地僱用合符
工作要求的應徵者， 無論種族、膚
色、宗教、性別、國籍、年齡或身
體狀況如何。而在員工晉升方面，
本集團只會基於其個人專長，專業
技能和經驗為考慮因素。此外，我
們會以員工表現和市場水平作為薪
酬調整的基礎。
本集團為員工提供各項福利待遇，
並會定期舉辦活動及聚會，幫助員
工減壓。一般來說，六十五歲是合
適的退休年齡。但是，本集團亦會
因應有關職位的實際情況以及當
時員工的意願和健康情況而考慮延
後。此外， 如員工遇到工傷事故及工
業死亡意外時，本集團會按勞工法
例對員工及其家屬作出合理賠償。
本集團政策強調不強迫員工超時工
作，而超時工作亦有預先定明的超
時薪津或補假。
本集團一直嚴格遵守相關的僱傭法
例，期內未有因為違反與僱傭相關
法例而被檢控的個案。
B SOCIETY
B1 Employment
The Group’s employment policy follows the principle of
equal opportunity, aiming to hire applicants that meet the
requirements and without discrimination, regardless of
ethnicity, colour, religion, sex, nationality, age or physical
conditions. The Group would consider staff promotions
solely based on personal expertise, professional skills
and experience. Furthermore, we would make salary
adjustments based on staff performance and the market
level.
The Group has provided various staff welfare benefits,
and would also regularly host events and gatherings
to help reducing stress of employees. Typically, the
appropriate retirement age is 65, however, the Group
would consider an extension based on the situation of the
relevant position and health conditions and willingness
of the employee. Moreover, if an employee has suffered
from an injury or died as the result of an accident at work,
the Group would pay a reasonable compensation to the
employee and his family in accordance with the labour
law. The Group’s policy is strongly against overtime
work for employees. Prescribed overtime pay and
compensatory leave would be given for overtime work.
The Group has strictly complied with the relevant
employment laws, and there have been no cases of
prosecution due to violation of the relevant employment
laws during this period.
24
ANNUAL REPORT 2017
SAM WOO CONSTRUCTION GROUP LIMITED
企業社會責任報告
Corporate Social Responsibility Report
B2 健康與安全
對建造業來說，最值得關注的就是
安全。本集團更一直視安全為每個
工序的固有部份，因此，本集團實
施了OHSAS 18001職業健康及安
全管理體系並獲得認證。本集團針
對運營和現場工作作出分析，以確
定任何相關於健康和安全的隱患以
及相關的風險，識別其風險級別，
並對高風險的工作提供風險評估，
以制定不同程度的控制措施。對涉
及重大風險的環節更會通過制定目
標，以達致更理想的管理效果。本
集團同時亦推行安全視察計劃，委
派指定人員定期進行安全巡查及查
核以確保操作人員時刻遵守安全。
而針對高風險工作，管理人員會選
擇合適的個人防護裝備給員工以保
障他們的安全。
本集團亦同樣重視對員工的安全培
訓，所有進入工地工作的人員都需
要先接受安全引導培訓課程，負責
安全方面的主管會提供相關訓練包
括簡介有關安全的法例、安全操作
指引、工地潛在危險及緊急應變等
以提高他們的安全操作意識。
本集團嚴格遵守相關的安全法例，
期內未有因為違反與職業安全相關
法例而被檢控的個案。
B2 Health and Safety
In the construction industry, safety is most worthy of
attention. The Group has always regarded safety as
an integral part of each process, therefore the Group
has implemented the OHSAS 18001 Occupational
Health and Safety Management Systems which was
being certified. The Group has conducted analysis on
operational and field work to determine any potential
dangers or r isks related to health and safety and
identifying their risk level. For high risk jobs, the Group
would conduct risk evaluations to implement different
levels of control measures. Objectives have been set for
the processes with significant risks in order to have a
better management. The Group has also carried out a
safety inspection scheme whereby an appointed person
would be delegated to perform regular safety inspections
to ensure construction staff are obeying the safety rules
at all times. For high risk jobs, management staff would
determine the appropriate personal protective equipment
for the employees to ensure their safety.
The Group places the same level of importance on
employees’ safety training; all employees who worked
at the construction site must first go through a safety
induction training session whereby the responsible safety
supervisor would provide relevant training, including
brief ing on safety related laws, operational safety
guidelines, potential dangers on site and emergency
responses to enhance their operational safety awareness.
The Group has strictly complied with the relevant safety
laws, and there have been no cases of prosecution due
to violation of the relevant occupational safety laws during
this period.
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三和建築集團有限公司
二零一七年年報
企業社會責任報告
Corporate Social Responsibility Report
B3 發展及培訓
為提供專業的建築工程服務予客
戶，員工的工程知識及技能非常重
要。本集團資助及提供機會給員工
參加各類型提升知識技能的培訓，
如提供機械操作培訓給見習技術員，
並會資助負責相關作業員工考取資
格證。此外，本集團會提名部分員
工參加廠商的新機種操作訓練，又
會安排參觀展覽會認識最新機械發
展，希望透過此等計劃令員工得到
更全面的機械操作知識以及更快掌
握新技術從而推動公司的發展。
在日常工作中，又會安排小組主管
提供在職培訓，並安排有經驗的
員工為初級員工進行工作指導。此
外，管理層亦參與業界或專業團體
舉辦的建築業管理知識或新發展的
講座，有助提升他們的管理知識及
擴闊視野。如部門有需要，員工更
可調配到不同的崗位，讓員工涉獵
不同領域的知識和汲取經驗。
B4 勞工準則
本集團重視每位員工的權益，並對
工作場所訂立政策禁止僱用任何18
歲以下的員工。對於防止強制勞工
方面，本集團禁止在所有單位行使
強制勞動，政策訂明沒有僱員會在
違反自己意願下工作或受到與工作
有關的任何類型的體罰或脅迫。本
集團同時亦承諾不會強迫員工超時
工作。
本集團嚴格遵守相關的勞工法例，
期內未出現任何童工或強迫勞工的
情況，亦未有因為違反相關法例而
被檢控的個案。
B3 Development and Training
In order to provide professional construction engineering
services to our clients, the engineering knowledge and
skill of our staffs are vital. The Group has sponsored and
provided opportunities for employees to participate in
various trainings to enhance their knowledge and skill,
for example providing mechanical operations training
for technician trainees and sponsoring their license
examinations. Furthermore, the Group would nominate a
number of employees to attend operations trainings for
new machine models provided by the manufacturers, and
would also organize visits to exhibitions to learn about the
latest mechanical developments. We hope that through
such programs, employees would be able to gain more
comprehensive knowledge on mechanical operations
and grasp new skills faster to help driving the Group’s
development.
In daily operations, the Group would arrange for team
leaders to provide on-the-job training and experienced
staff would give work guidance for junior level employees.
In addition, managerial staff would attend seminars on
construction industry management or new developments,
organised by industry or professional organisations to
enhance their knowledge in management and broaden
their horizons. I f a department deems necessary,
employees may be allocated to other positions to acquire
knowledge and experience from different fields.
B4 Labour Standards
The Group respects the rights and interests of each
employee, and in accordance to the workplace policy,
we have prohibited the recruitment of any persons under
the age of 18. With regards to the prevention of forced
labour, the Group prohibits the execution of forced labour
in all units. The policy prescribes that no employee shall
be forced to work against his own will or be subject to
any work-related corporal punishment or coercion. The
Group has also committed not to force employees to
work overtime.
The Group has strictly complied with the relevant labour
laws. There have been no cases of child labour, forced
labour or prosecution due to violation of the relevant laws
during this period.
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ANNUAL REPORT 2017
SAM WOO CONSTRUCTION GROUP LIMITED
企業社會責任報告
Corporate Social Responsibility Report
B5 供應鏈管理
本集團期望通過多方面的措施令
供應鏈對其環境、社會範疇的管理
有所提升及完善。本集團在挑選供
應商及承建商時會根據其過往表
現、勞工權益、職安健及環保記錄
作為聘用準則，同時亦包括其財務
狀況、商業道德等範疇。本集團亦
會不時評審及更新認可的承建商名
單，而評審標準則包含環境、社會
標準的合規表現。為控制及保證承
建商的工程質量及進度，本集團的
項目管理團隊會持續監察承建商在
技術和勞工安全方面的表現，並會
記錄相關巡查結果以作跟進。
本集團對承建商訂立了相關的管理
守則要求它們遵守，涵蓋面包括環
保、反童工、按僱傭權益支薪、職
業安全等。工地現場亦設有安全主
任進行監督，確保守則行之有效。
本集團非常重視勞工權益，相關政
策訂明禁止從事使用童工和強迫勞
動的承建商。此外， 本集團亦為承建
商制定了環保及職安健指引，當中
包括建築工程設計、挑選物料、污
染控制等的良好作業。同時亦指示
供應商及承建商提供相關於本集團
環境管理體系運作的培訓。
B6 產品責任
本集團的主要業務範疇圍繞地基工
程，地基的質量直接影響建築物的
安全。故此，建造穩固可靠的地基
是本集團的首要責任。
B5 Supply Chain Management
The Group hopes that through various measures, the
supply chain’s management in environmental and social
areas would improve. The engagement criteria for the
selection of suppliers and contractors are based on their
past performances, labour rights, records from health
and safety issues and environmental issues, financial
situation, business ethics and other areas. The Group
would also evaluate and update the approved list of
contractors on a regular basis. The evaluation criteria
include compliance on the environmental and social
standards. To control and ensure the quality and speed
of work of the contractors, the project management team
would continuously monitor the skill and labour safety
performance of the contractors, recording the relevant
inspection results for follow up work.
The Group has established a Code of Practice that
contractors are required to comply with, which covers
items such as environmental protection, anti-child labour,
payment of salary in accordance with employment
r ights, and occupational safety. There have been
safety managers on site to supervise to ensure the
Code of Practice is in effect. The Group greatly values
labour rights; related policies have prohibited the use
of contractors that have engaged in the use of child
labour and forced labour. Furthermore, the Group has
implemented environmental protection and occupational,
safety and health guidelines for contractors. These
include construction and engineering design, material
selection, pollution control and other good practices.
Additionally, the Group would instruct suppliers and
contractors to provide training related to the operations of
the Group’s environmental management system.
B6 Product Responsibility
The Group’s main scope of business is around foundation
engineering. The quality of the foundation directly affects
the building’s safety, therefore building a stable and
reliable foundation is the Group’s primary responsibility.
27
三和建築集團有限公司
二零一七年年報
企業社會責任報告
Corporate Social Responsibility Report
本集團對承造項目的不同階段制訂
檢驗及檢測計劃，根據相關合約規
定對所有樁柱進行各種適用測試以
全面確保產品的質量及安全。當中
的質量控制測試包括檢查鑽孔樁傾
角、混凝土質量和裂縫、混凝土與
岩石的結合力以及一系列的來料質
量檢驗。本集團又會為客戶提供所
有樁柱的測試報告以保證樁柱的結
構安全。
本集團提供的產品服務更覆蓋至完
工後的品質保證。我們會根據相關
的合同條款負責在保固期內糾正施
工缺陷，保固期一般為工程完工後
一年。此外，本集團堅守與客戶簽
訂的合約內的保密條款，保證客戶
所提供的訊息和文件得到妥善的保
管。
本集團嚴格遵守相關的產品責任法
例，期內未有因為違反與產品責任
或私隱相關法例而被檢控的個案。
B7 反貪污
本集團以誠信、公正為核心價值
觀，並禁止所有貪污和賄賂行為。
本集團訂立了明確的行為守則，規
定所有董事及員工在處理公司業務
時不得提供或接受任何賄賂。為防
止有利益衝突，員工應先通過匯報
渠道向董事會作出聲明。本集團同
時亦建立了舉報制度，並制定了相
關政策以有效地實施內部監控和風
險管理，政策為員工提供了舉報的
指引及渠道，亦有助提高員工對欺
詐、貪污等不當行為的警惕。
The Group has developed testing and inspection plans
for different stages of the construction project, and in
accordance with the relevant provisions on the contract,
all piles must go through various appropriate tests to
ensure the quality and safety of the product. Quality
control tests include inspection of the angle of inclination
of the bored pile, the quality of concrete and fractures,
the binding force between the concrete and rocks, and
a series of incoming quality control. The Group would
also provide customers the test reports of all piles to
guarantee the stability of the pile structure.
The Group’s product serv ices a lso cover qual i ty
assurance after completion of the project. We would,
in accordance with the relevant contract terms, be
responsible for fixing any construction defects within the
warranty period. Typically, the warranty period is within
one year after the completion of the project. In addition,
the Group stands by the confidentiality clause in the
signed contract with the customers, ensuring that the
information and documents provided by the customers
would be properly stored.
The Group has strictly complied with the relevant product
responsibility laws, and there have been no cases of
prosecution due to violation of the relevant product
responsibility or confidentiality laws during this period.
B7 Anti-corruption
Integrity and justice are the core values of the Group,
hence we prohibit all acts of corruption and bribery.
The Group has established a clear Code of Conduct
whereby all directors and staff are forbidden to offer or
receive any bribery when dealing with company-related
businesses. In order to prevent any conflict of interests,
employees should first make a statement to the board
of directors through reporting channels. The Group has
also established a reporting system, and has developed
relevant pol ic ies to ef fect ively implement internal
monitoring and risk management. The policies provide
reporting guidelines and channels for employees, and
helps increasing employees’ alertness towards fraud,
corruption and other misconduct.
28
ANNUAL REPORT 2017
SAM WOO CONSTRUCTION GROUP LIMITED
企業社會責任報告
Corporate Social Responsibility Report
公平公開以及嚴謹的採購招標流程
實為維護企業誠信的主要元素。本
集團在採購物料時，會參考多家供
應商的報價，造到公平挑選。而所
有的承建商、物料供應商合約均會
由董事進行審批，確保外判程序得
到嚴格監管。
本集團嚴格遵守相關的反貪污法
例，期內未有因為違反相關法例而
被檢控的個案。
B8 社區投資
本集團一向積極於回饋社會並參與
各類型的社區活動。年內參加了多
項義工活動， 包括由社區服務機構主
辦探訪低收入家庭，並送上禮物以
表示對他們的關懷及關注基層的生
活。此外，又協助文化推廣團體舉
辦兒童粵劇比賽並進行捐獻，推廣
文化藝術之餘, 亦為兒童發展出一分
力。慈善捐獻同時亦惠及長者，本
集團捐助非牟利社區服務機構以促
進有關長者福利活動的舉行，支持
敬老愛老的精神。
青少年是社會未來發展的動力。有
見及此，本集團大力支持學校舉辦
的工作體驗周，通過實習計劃讓中
學生有機會認識社會的工作環境以
及認識不同層面人士，增廣他們的
見識。
A fair, open and rigorous procurement and tender
process is the main element in maintaining a company’s
integrity. During the procurement of materials, the Group
would review quotations from multiple suppliers in order
to make a fair decision. All contracts for material suppliers
and contractors should be approved by the directors
to ensure that the outsourcing procedures are strictly
supervised.
The Group has strictly complied with the relevant
anti-corruption laws, and there have been no cases of
prosecution due to violation of the relevant laws during
this period.
B8 Community Investment
The Group has always been actively contributing to
society and participating in various kinds of community
events. During the year, we have participated in various
volunteer events, including visits to low income families
organised by community service organisations. Gifts were
given to those families to show our care and attention to
them. Furthermore, we have assisted cultural promotion
organisations in hosting children’s Cantonese opera
competitions and made donations, not only to promote
culture and art, but also to contribute to the development
of children. The Group’s charitable donations has also
benefited the elderly as the donations has gone to
non-profit community service organisations to facilitate
the hosting of welfare events for the elderly in support of
the spirit of respect for them.
The youth of today are the forces behind the future
development of our society. In light of this, the Group has
tremendously supported work experience week hosted
by schools, as students were then given the opportunity
to understand the working environment in our society and
to meet people of different status, hence broadening their
knowledge.
29
三和建築集團有限公司
二零一七年年報
企業管治報告
Corporate Governance Report
CORPORATE GOVERNANCE PRACTICES
The Board is committed to maintaining a high standard of
corporate governance, and strives to maintain transparent
and responsible management practices that will create long
term value for the interests of shareholders. The Board will
continuously review and improve the Group’s corporate
governance practices, and maintaining a high standard of
business ethics across the organisation.
The Company had complied with all the code provisions set
out in the Corporate Governance Code (“CG Code”) under
Appendix 14 of the Rules Governing the Listing of Securities
(the “Listing Rules”) on The Stock Exchange of Hong Kong
Limited (the “Stock Exchange”) throughout the year ended 31
March 2017.
DIRECTORS’ SECURITIES TRANSACTIONS
The Company has adopted the Model Code for Securities
Transactions by Directors of Listed Issuers (the “Model Code”)
set out in Appendix 10 to the Listing Rules. Having made
specific enquiry with all directors, the directors confirmed that
they had complied with the required standard set out in the
Model Code during the year ended 31 March 2017.
As required under the CG Code, the Board has established
guidelines no less exacting than the Model Code for relevant
employees in respect of their dealings in the securities of the
Company.
企業管治常規
董事會致力維持高水平的企業管治，並努
力保持透明及負責任的管理常規，從而為
股東利益創造長期價值。董事會將不斷檢
討及改善本集團的企業管治常規，並在整
個組織內維持高水平的商業道德。
本公司於截至2017年3月31日止年度一直
遵守香港聯合交易所有限公司（「聯交所」）
證券上市規則（「上市規則」）附錄14所載
的企業管治守則（「企業管治守則」）的所有
守則條文。
董事進行的證券交易
本公司已採納上市規則附錄10所載《上
市發行人董事進行證券交易的標準守則》
（「標準守則」）。經向全體董事作出查詢，
董事確認彼等於截至2017年3月31日止年
度一直遵守標準守則所載的規定準則。
根據企業管治守則規定，董事會須就有關
僱員買賣本公司證券事宜制定指引，指引
內容應該不比標準守則寬鬆。
30
ANNUAL REPORT 2017
SAM WOO CONSTRUCTION GROUP LIMITED
企業管治報告
Corporate Governance Report
THE BOARD
The primary role of the Board is to protect and enhance
long term shareholders’ value. The Board oversees the
management, business, strategies and financial performance
of the Group. It also ensures that good corporate governance
policies and practices are implemented within the Group. In
the course of discharging its duties, the Board acts in good
faith, with due diligence and care, and in the best interests
of the Company and its shareholders. The management is
responsible for execution of the strategies in the Group’s daily
operations and implementation of the risk management and
internal control systems.
The Board currently comprises 7 members whose biographies
and family relations are set out in the “Profile of Directors and
Senior Management” section on pages 40 to 42 in this annual
report. The posts of Chairman and Chief Executive Officer of
the Company are separately held by Mr. Lau Chun Ming and
Mr. Lau Chun Kwok, respectively, to maintain an segregation
of duties between the Chairman’s responsibility to manage
the Board and the Chief Executive Officer’s responsibility to
manage the Group’s business and oversee the management.
The directors bring a good balance of skills and experience to
the Company. The independent non-executive directors serve
the relevant function of bringing independent judgment on the
development, performance and risk management of the Group.
The directors have been made fully aware of their collective
and individual responsibilities to shareholders.
The executive directors have entered into service contracts
with the Company and each of the independent non-executive
directors has been appointed on specific term of three years.
Notwithstanding the specific term of appointments, the articles
of association of the Company provides that every director
shall be subject to retirement at an annual general meeting at
least once every three years. At each annual general meeting,
one-third of the directors for the time will retire from office by
rotation and being eligible for re-election by the shareholders.
董事會
董事會的主要職責為保護及提升股東長期
價值。董事會負責監督本集團的管理、業
務、策略及財務表現。董事會亦確保良好
的企業管治政策及常規得以於本集團內實
施。在履行職責的過程中，董事真誠、盡
職及謹慎，及以本公司及其股東的最佳利
益行事。管理層負責於本集團的日常營運
中執行策略及實施風險管理及內部監控系
統。
董事會現時包括七名成員，其履歷及家族
關係載於本年報第40至第42頁「董事及高
級管理層履歷」一節。本公司主席及行政
總裁職位分別由劉振明先生及劉振國先生
擔任，主席負責管理董事會而行政總裁負
責管理本集團業務及監督管理層，以維持
職責之間的分工。董事為本公司帶來均衡
的技能及經驗。獨立非執行董事負責就本
集團的發展、表現及風險管理作出獨立判
斷等相關職能。董事已充分認識到彼等共
同及個人對股東的責任。
執行董事已與本公司訂立服務合約，而各
獨立非執行董事已獲委任三年指定任期。
儘管委任以指定任期，惟本公司組織章程
細則規定，每名董事須至少每三年一次於
股東週年大會上退任。於每屆股東週年大
會上，三分之一的時任董事將輪值退任並
合資格接受股東重選連任。
31
三和建築集團有限公司
二零一七年年報
企業管治報告
Corporate Governance Report
Board meetings
The Board held five meetings during the year ended 31
March 2017, at approximately quarterly intervals. All directors
attended these meetings, at which business development,
investment strategies, financial performance and potential risks
relating to the daily operations of the Group, were discussed.
Directors’ induction and development
In the year ended 31 March 2017, all directors complied
with the provision of the CG Code in relation to continuous
professional development and submitted their training records
to the Company. In doing so, the directors have undertaken
various forms of activities that have included attending a
presentations given by external professional advisors, and
reading materials relevant to the Company’s business,
directors’ duties and responsibilities. The Company held a
training for regulatory and compliance update for all directors
during the year and intended to arrange another training for
them to refresh their knowledge in the forthcoming year.
BOARD COMMITTEES
The Board has established certain Board committees to
oversee specific aspects of the Company’s affairs and help
it in the execution of its responsibilities. These committees
each have specific written terms of reference which clearly
outline the committees’ authority and duties, and which
require the committees to report back on their decisions or
recommendations to the Board.
董事會會議
截至2017年3月31日止年度，董事會曾舉
行五次會議，約每季舉行一次。全體董事
均有出席會議，並在會上討論業務發展、
投資策略、財務表現及有關本集團日常營
運的潛在風險。
董事就任及發展
截至2017年3月31日止年度，全體董事均
遵守有關持續專業發展的企業管治守則條
文，並向本公司提交培訓記錄。為此，董
事已參與各項活動，包括出席外部專業顧
問發表的簡報會以及閱覽與本公司業務、
董事職務及職責有關的資料。本公司於年
內為全體董事舉行監管及合規更新培訓，
並擬於來年為彼等安排其他培訓，以更新
彼等的知識。
董事委員會
董事會已成立若干董事委員會，監察本公
司事務特定範疇，並協助其履行職責。該
等委員會各自訂有特定的書面職權範圍，
當中清晰界定委員會權力及職務，並規定
委員會向董事會匯報其決策或建議。
32
ANNUAL REPORT 2017
SAM WOO CONSTRUCTION GROUP LIMITED
企業管治報告
Corporate Governance Report
Audit Committee
The audit committee is responsible for the engagement of
external auditor, review of the Group’s financial information and
oversight of the Group’s financial reporting system, internal
control procedures and risk management system. It is made
up of three independent non-executive directors including Mr.
Ip Tin Chee, Arnold (chairman), Professor Wong Sue Cheun,
Roderick and Mr. Chu Tak Sum.
The audit committee held two meetings during the year ended
31 March 2017, which was attended by all of its members,
to review, among other matters, the consolidated financial
statements, internal control review report and continuing
connected transactions of the Group for the year ended 31
March 2016, and have a private meeting with external auditor
without the presence of the management; and the unaudited
interim financial statements of the Group for the six months
ended 30 September 2016.
Nomination Committee
The nomination committee held one meeting during the year
which was attended by all of its members. It is responsible for
annually reviewing the structure, size and composition of the
Board (including its mix of skills, knowledge and experience),
making recommendations on proposed changes to the Board
to complement the Company’s corporate strategy, making
recommendations to the Board on the appointment or re‐
appointment of directors, and assessing the independence
of independent non-executive directors. It also oversees
the implementation of the Company’s policy on diversity of
directors. It is made up of four members including Professor
Wong Sue Cheun, Roderick (chairman), Mr. Chu Tak Sum,
Mr. Ip Tin Chee, Arnold, being independent non-executive
directors, and Mr. Lau Chun Ming, an executive director.
審核委員會
審核委員會負責聘用外聘核數師、審閱本
集團財務資料、監督本集團財務報告系
統、內部監控程序及風險管理系統。其由
三名獨立非執行董事組成，包括葉天賜先
生（主席）、王世全教授及朱德森先生。
審核委員會於截至2017年3月31日止年度
舉行了兩次會議，全體成員均出席，以審
閱（其中包括）本集團截至2016年3月31日
止年度的綜合財務報表及內部監控審閱報
告以及持續關連交易，並在無管理層出席
的情況下與外聘核數師舉行了一次私人會
議；及審閱本集團截至2016年9月30止六
個月的未經審核中期財務報表。
提名委員會
提名委員會於年內舉行了一次會議，全體
成員均有出席。其負責檢討董事會的架
構、規模及組成（包括技能、知識及經驗
的組合）；就建議變動向董事會提出建議，
與本公司企業策略相輔相成；就委任或重
新委任董事向董事會提出建議；及評估獨
立非執行董事的獨立性。提名委員會亦負
責監察本公司書面政策的實施情況，確保
董事人選具備多元性。提名委員會由四名
成員組成，包括獨立非執行董事王世全教
授（主席）、朱德森先生及葉天賜先生以及
執行董事劉振明先生。
33
三和建築集團有限公司
二零一七年年報
企業管治報告
Corporate Governance Report
The Company has a diversity policy of Board members. Under
this policy, the diversity of the Board is considered in terms
of factors such as gender, age, cultural and educational
background, ethnic i ty, professional exper ience, ski l ls ,
knowledge and length of service. All Board appointments are
based on merit, and candidates are considered against various
objective criteria, with due regard for the benefits of diversity
on the Board.
Remuneration Committee
The remuneration committee held one meeting during the year
which was attended by all of its members. It is responsible
for making recommendations to the Board on the Company’s
policy and structure for the remuneration of all the directors
and senior management of the Group and on the establishment
of a formal and transparent procedure for developing
remuneration policy for approval by the Board. It is made
up of four members including Mr. Chu Tak Sum (chairman),
Professor Wong Sue Cheun, Roderick, Mr. Ip Tin Chee, Arnold,
being independent non-executive directors, and Mr. Lau Chun
Ming, an executive director.
In determining the remuneration of the Directors and the senior
management, the Remuneration Committee would consider
factors such as salaries paid by comparable companies, time
commitment and responsibilities of the Directors and the senior
management, performance and contributions of the Directors
and the senior management and the change in market
conditions. Details of the remuneration paid to the directors
and the other five highest paid employees are set out in notes
29(a) and 7(c), respectively, to the consolidated financial
statements.
本公司設有有關董事會成員多元化的政
策。在該政策下，董事會成員多元化考慮
到性別、年齡、文化與教育背景、種族、
專業經驗、技能、知識及服務年資等因
素。董事會所有委任均以用人唯才為原
則，並在考慮人選時以多方面的客觀條件
充分顧及董事會成員多元化的裨益。
薪酬委員會
薪酬委員會於年內舉行了一次會議，全體
成員均有出席。其負責就本集團全體董事
及高級管理層的薪酬政策及結構，以及為
薪酬政策的發展制訂正式及透明的程序，
向董事會提供推薦建議以供其批准。薪酬
委員會由四名成員組成，包括獨立非執行
董事朱德森先生（主席）、王世全教授及葉
天賜先生以及執行董事劉振明先生。
於釐定董事及高級管理層的薪酬時，薪酬
委員會將考慮多項因素，如可資比較公司
支付的薪金、董事及高級管理層付出的時
間及職責、董事及高級管理層的表現及貢
獻以及市況變動等。有關支付予董事及其
他五名最高薪僱員的薪酬的詳情分別載於
綜合財務報表附註29(a)及7(c)。
34
ANNUAL REPORT 2017
SAM WOO CONSTRUCTION GROUP LIMITED
企業管治報告
Corporate Governance Report
RISK MANAGEMENT AND INTERNAL CONTROLS
The Board is responsible for maintaining an adequate risk
management and internal control systems to safeguard
shareholders’ investments and the Group’s assets, and
reviewing their effectiveness of annually through the audit
committee. The audit committee reports to the Board on any
material issues and makes recommendations to the Board.
The Group has maintained an operation manual, which
provides a comprehensive internal control guidance and
procedures on the Group’s operational cycles relating to
revenue, purchase and expenditure, inventory and human
resources etc., to ensure proper accounting records are
kept so that reliable financial reporting can be provided,
effectiveness and efficiency of operation can be achieved,
compl iance with appl icable laws and regulat ions and
safeguarding of assets can be maintained. These procedures,
together with the Company’s compliance manual, have also
shaped the control environment at which and how the Group
operates in, including the budgeting controls, investment
decision making, risk assessment and practices of corporate
governance. These systems are des igned to prov ide
reasonable, but not absolute, assurance and protection against
errors, losses and fraud.
The Company does not establish a standalone internal audit
department, however, the Board has put in place adequate
measures to perform the internal audit function at different
aspects of the Group which are discussed below.
The Company has appointed an internal control adviser to
conduct annual review on the risk management and internal
control system of the Group for the year and reported their
findings and recommendations to the audit committee and the
Board. It is designed to review the effectiveness of the Group’s
material internal controls so as to provide assurance that key
internal control measures are carried out appropriately and
are functioning as intended. During the year, purchase and
expenditure, lease and tenancy and information technology
cycles were reviewed and found that adequate controls are in
place.
風險管理及內部監控
董事會負責維持充分的風險管理及內部監
控制度以保障股東投資及本集團資產，並
透過審核委員會每年檢討其成效。審核委
員會會向董事會匯報任何重大事宜及提出
建議。
本公司維持一份營運手冊，訂明與收入、
採購及開支、存貨及人力資源等有關方面
之營運週期之全面內部監控指引及程序，
確保存置適當會計記錄，以致能夠提供可
靠財務報告，達致營運效率與效益以及能
夠維持遵守適用法律及法例，並保護資
產。該等程序加上本公司之合規手冊，亦
塑造了本集團在預算控制、投資決策、風
險評估及企業管治常規等方面的控制環
境，供本集團操作及依循。該等體系指在
提供防止錯誤、遺失及欺詐的合理（但並
非絕對）保證及保障。
本公司並無設立獨立內部審核部門，然
而，董事會經已實施充足的措施，從本集
團不同方面履行內部審核職能，有關情況
討論如下。
本公司已委任一名內部監控顧問對本集團
於本年度之風險管理及內部監控系統進行
年度審閱，並向審核委員會報告彼等之調
查發現及推薦意見。有關審計的目的是檢
討本集團重大內部監控之效率，從而保證
主要內部監控措施適當進行及發揮擬定作
用。於本年度內，購買及開支、租賃及租
約與信息技術週期均已獲審查，並發現所
有控制均已充份到位。
35
三和建築集團有限公司
二零一七年年報
企業管治報告
Corporate Governance Report
For the foundation works business, the Group has to comply
respective requirements and pass the regular reviews in
order to retain its listing in the Development Bureau Specialist
List (Group II) in large diameter bored pile (with bell-out),
the Housing Authority List of Pi l ing Contractors ( large
diameter bored piling category) Probation and the Buildings
Department Registered Specialist Contractor – Foundation
Category. The Group has also implemented a management
system in accordance with the requirements under ISO
9001, ISO 14001, ISO 50001 and OHSAS 18001 to ensure
that the Group’s services meet the requisite health and
safety, quality and environmental requirements. During the
year, the Group passed the audits conducted by external
consultants and renewed these certificates. Upon completion
of pile construction, the Group is required to engage external
professionals to conduct various applicable tests on all piles
based on the relevant contractual requirements and ensure
full compliance with customer requirements. Subject to these
piling records available to the customers for their testing and
inspection, the authorised persons employed by the customers
certify the value of the works completed in the payment
certificates issued to the Group. Therefore, stringent on-going
controls and monitoring systems have already been embedded
in the daily operations of the foundation works business.
The executive directors held monthly meetings with senior
management to review and monitor the business and financial
performance against the targets, the progress of certification
and contract receipts from the customers, the efficiency
in the use of the Group’s resources in comparison to the
budgets, and the operational matters to ensure the Group has
complied with the regulations that have material impact to the
Group’s business. The aim is to enhance the communication
and accountability of the directors and management so that
significant strategic, financial, operational and compliance risks
or potential deviations are timely identified and dealt with in
a proper manner, while significant issues are reported back
to the Board for their attention. The Company also compiles
monthly reports to the Board (including independent non-
executive directors) to update the latest financial performance,
position and prospects of the Group.
至於地基工程業務，本集團須遵守相關規
定及通過定期檢討以維持名列於發展局
大直徑鑽孔擴底樁專門承建商名冊（第II
組）、房屋委員會打樁承建商名冊（大口徑
鑽孔樁工程類）－試用以及屋宇署註冊專
門承建商－地基類別。本集團亦根據ISO
9001、ISO 14001、ISO 50001及OHSAS
18001的要求執行管理系統，以確保本集
團服務符合必要的衛生及安全、質量及環
境規定。於本年度內，本集團通過外部顧
問進行之審核，並重續該等證書。完成樁
柱建造工程後，本集團須委託外部專家根
據相關合約的規定對所有樁柱進行各種適
用測試，並確保全面符合客戶要求。該等
打樁記錄須供客戶測試及檢驗，而由客戶
聘用的獲授權人士會在發給本集團的付款
證書中確認已完成工程的價值。因此，嚴
格的持續控制及監察系統經已植入地基工
程業務的日常運作當中。
執行董事每月均會與高級管理層舉行會
議，以審閱及監察業務及財務表現對比預
期目標的進度、自客戶獲取證書及合約的
進度、本集團資源的運用的效率與預算對
比，以及營運方面的事務，以確保遵守對
本集團業務有重大影響的監管規定。此舉
旨在增強董事與管理層的溝通與問責，從
而令重大策略、財政、營運及合規風險或
潛在偏離狀況得以及時辨識，並以適當方
式處理，而重大事項則向董事會匯報。本
公司亦為董事會（包括獨立非執行董事）
編撰每月報告，以更新本集團最新財務表
現、狀況及前景。
36
ANNUAL REPORT 2017
SAM WOO CONSTRUCTION GROUP LIMITED
企業管治報告
Corporate Governance Report
The Company also has a policy for disclosure of inside
information. While any potential inside information will be
escalated to the executive meetings or the Board via the
established reporting channels, the directors will assess and
determine if inside information of the Company exists where
timely disclosure is required to be made by an announcement
published on the Stock Exchange website. On the other hand,
in order to enhance the communication with the market, the
Company will publish voluntary announcements to update
the public on the latest development of the Group’s business
to enhance the transparency of the Company, whenever
practicable.
The Board reviewed the effectiveness of the Group’s risk
management and internal control system at its Board meeting
on 23 June 2017, including its financial, operational and
compliance controls, and its risk management functions.
The Board’s review included a consideration of the internal
control evaluations conducted by the executive management,
the findings of the external auditors during the annual audit
and the internal control review reported by an internal control
adviser engaged by the Company. There was no material
fraud or errors came to the attention of the Board from all
these sources. Therefore, the Board was satisfied that the
risk management and internal control systems were in place
and implemented effectively during the year without significant
weakness identified.
AUDITOR’S REMUNERATION
Total auditors’ remuneration for year ended 31 March 2017
in relation to statutory audit work of the Group amounted
to HK$ million (2016: HK$ million), of which a sum
of HK$ million (2016: HK$ million) is paid or payable
to PricewaterhouseCoopers, independent auditor of the
Company, in respect of the audit services related to the audit
for the year ended 31 March 2017.
本公司亦制定披露內幕消息的政策。任何
潛在內幕消息將會透過既定的申報渠道傳
遞到執行會議或董事會，董事將評估及釐
定本公司是否存在內幕消息，並按規定須
於聯交所網站上發表公告作及時披露。另
一方面，為增強市場資訊溝通，本公司將
會自願刊發公佈，向公眾人士更新本集團
業務的最新發展，在可行情況下增加透明
度。
董事會曾於2017年6月23日舉行之董事會
會議上檢討本集團風險管理及內部監控
（包括財務、營運及合規控制以及風險管
理職能）系統的效率。董事會的檢討包括
考慮由執行管理人員進行的內部監控評
估、外部核數師在年度審核中的發現以及
本公司委託內部監控顧問編製的內部監控
檢討報告。董事會從所有該等資料中未有
發現重大欺詐或錯誤。因此，董事會信納
風險管理及內部監控系統在本年度內均已
準備就緒及獲有效推行，而並無辨識重大
弱點。
核數師酬金
於截至2017年3月31日止年度，就有關本
集團法定審核工作之核數師酬金合共為
1,500,000港元（2016年：1,600,000元），
其中1,200,000港元（2016年：1,200,000
港元）乃就截至2017年3月31日止年度審
核服務而已付或應付予本公司獨立核數師
羅兵咸永道會計師事務所。
37
三和建築集團有限公司
二零一七年年報
企業管治報告
Corporate Governance Report
DIRECTORS’ AND AUDITOR’S RESPONSIBILITIES
FOR THE FINANCIAL STATEMENTS
The directors acknowledge their responsibi l i ty for the
preparation of financial statements which give a true and
fair view of the state of affairs of the Group. In preparing
the financial statements which give a true and fair view, it is
fundamental that appropriate accounting policies are selected
and applied consistently. The reporting responsibilities of
the Company’s external auditor on the consolidated financial
statements of the Group are set out in the independent
auditor’s report on pages 59 to 69 of this annual report. The
directors were not aware of any material uncertainties relating
to events or conditions which may cast significant doubt upon
the Group’s ability to continue as a going concern.
COMPANY SECRETARY
The Company’s company secretary Mr. Chan Sun Kwong
coordinates the supply of information to the directors and is
the primary contact person within the Company for all matters
relating to the duties and responsibilities of the company
secretary. All directors have access to the company secretary
to ensure that board procedures and all applicable laws, rules
and regulations are followed. During the year, he had taken no
less than 15 hours relevant professional training as required
under Rule of the Listing Rules. Please refer to his
biographical details which are set out on page 44 of this annual
report.
董事及核數師編製財務報表之責任
董事知悉彼等就編製真實與公平反映本集
團狀況之財務報表須承擔責任。在編製該
等真實與公平之財務報表時，必須選取及
貫徹採用合適的會計政策。本公司外聘核
數師對本集團綜合財務報表之呈報責任載
於本年報第59至69頁之獨立核數師報告。
董事所知，並無有關任何事件或情況的重
大不明朗因素可能對本集團持續經營的能
力產生重大疑問。
公司秘書
本公司之公司秘書陳晨光先生負責協調向
董事提供資料，並為就涉及公司秘書職務
及職責的一切事宜擔任本公司主要聯絡
人。所有董事均可獲公司秘書提供意見及
服務，確保能夠遵守董事會程序及所有適
用法律、規則及規例。年內，公司秘書按
上市規則第條規定參加不少於15個小
時的相關專業培訓。有關公司秘書的履歷
請參閱本年報第44頁。
38
ANNUAL REPORT 2017
SAM WOO CONSTRUCTION GROUP LIMITED
企業管治報告
Corporate Governance Report
SHAREHOLDERS’ RIGHTS
We endeavour to ensure that shareholders are treated fairly
and are able to exercise their shareholders’ rights effectively.
Shareholders are entitled by the articles of association of
the Company and are also encouraged to participate in the
Company’s general meetings or appoint proxies to attend
and vote. Shareholder(s) holding not less than 10% of the
Company’s paid-up capital may request the Board to convene
an extraordinary general meeting and put forward proposals.
Such requisition shall be made in writing to the Board or the
company secretary for the such purpose and specify the
transaction of any business to propose in such meeting.
If a shareholder wishes to nominate a person for election as
director in a general meeting, the particulars of the candidate
must be stated in a nomination notice signed and deposited
together with a notice of willingness signed by the candidate to
the company secretary at the Company’s headquarters or at
the Registration Office (Tricor Investor Services Ltd., Level 22,
Hopewell Centre, 183 Queen’s Road East, Hong Kong) of the
Company. The notice should be given at least seven days prior
to the date of such general meeting.
There was no amendment made to the const i tut ional
documents of the Company during the year ended 31 March
2017.
股東權利
我們致力確保股東獲公平對待，且彼等可
有效行使其股東權利。組織章程細則賦予
股東權利且鼓勵股東親身或委派代表出席
股東大會並於會上投票。持有不少於本公
司10%已繳足股本的股東可要求董事會召
開股東特別大會並提呈動議。有關請求必
須以書面向董事會或公司秘書作出，並註
明將於該大會上提呈之任何事務。
股東如欲於股東大會上提名任何人士出選
董事，則須將載有候選人詳細資料的經簽
署提名通知書連同經候選人簽署的候選同
意書，交予本公司總部送呈公司秘書或送
交本公司登記處卓佳證券登記有限公司，
地址為香港皇后大道東183號合和中心22
樓。通知書須於有關股東大會日期前最少
七天發出。
本公司憲制文件於截至2017年3月31日止
年度並無任何修訂。
39
三和建築集團有限公司
二零一七年年報
企業管治報告
Corporate Governance Report
INVESTOR RELATIONS
We are committed to maintaining effect ive and t imely
dissemination of the Group’s information to its shareholders
and the market. We have establ ished a shareholders’
communication policy which emphasises the importance of
regular communication to the shareholders and the market to
ensure they have the available information reasonably required
to make informed assessments of the Group’s strategy,
operations and financial performance. The annual shareholders’
meetings and other shareholders’ meetings of the Company
are the primary forum for communication by the Company with
its shareholders and for shareholder participation. In addition,
the Company’s website () contains
extensive company information which is easily accessible.
During the year, the Company held a few investor luncheons
and meetings for them to understand more on the business,
strategies and performance of the Group.
投資者關係
本公司致力於保持向其股東及市場有效
及時地傳達本公司資料。我們設立了股
東溝通政策，強調與股東及市場定期溝通
的重要性，以確保他們取得合理所需資料
以達致對本集團政策、營運及財務表現的
知情評估。本公司之股東週年大會及其他
股東大會乃本公司與股東間溝通之主要
平台，亦供股東參與。此外，本公司網站
（）載有豐富的
公司資料，方便瀏覽。
於本年度內，本公司曾舉辦若干投資者午
餐會及會議，加深對本集團業務、策略及
表現的瞭解。
40
ANNUAL REPORT 2017
SAM WOO CONSTRUCTION GROUP LIMITED
董事及高級管理層履歷
Profile of Directors and Senior Management
EXECUTIVE DIRECTORS
Mr. Lau Chun Ming, aged 74, is an executive director, the
Chairman and founder of the Group. He is also a director of
various subsidiaries within the Group. Mr. Lau is responsible
for the overall strategic planning and business development of
the Group, overseeing the tendering and quotation process,
research and development and formulation of overall corporate
policies of the Group. Mr. Lau has been involved in the
foundation works business since 1990. He is a brother of Mr.
Lau Chun Kwok and Mr. Lau Chun Ka, the spouse of Ms.
Leung Lai So and the father of Ms. Lau Pui Shan.
Mr. Lau Chun Kwok, aged 65, is the chief executive officer
and an executive director. He is also a director of various
subsidiaries within the Group. He joined the Group in the
1970s. He is responsible for the overall management of
foundation works and ancillary services projects of the Group.
He has been involved in the foundation works business since
1990. He is the brother of Mr. Lau Chun Ming and Mr. Lau
Chun Ka, brother-in-law of Ms. Leung Lai So and uncle of Ms.
Lau Pui Shan.
Mr. Lau Chun Ka, aged 63, is an executive director. He
is also a director of various subsidiaries within the Group.
He joined the Group in the 1970s. He is responsible for the
overall management of maintenance and repair of machinery
and equipment of the Group. He has been involved in the
foundation works business since 1990. He is the brother of Mr.
Lau Chun Ming and Mr. Lau Chun Kwok, brother-in-law of Ms.
Leung Lai So and uncle of Ms. Lau Pui Shan.
Ms. Leung Lai So, aged 70, is an executive director. She is
also a director of various subsidiaries within the Group. She
joined the Group in the 1970s. She is responsible for the
administrative and human resources matters of the Group
and has been involved in the management of the Group for
over 21 years. She obtained a diploma in smaller company
management from the Chinese University of Hong Kong in July
1997. She is the spouse of Mr. Lau Chun Ming, mother of Ms.
Lau Pui Shan and sister-in-law of Mr. Lau Chun Kwok and Mr.
Lau Chun Ka.
執行董事
劉振明先生，74歲，本集團執行董事、主
席兼創辦人。彼亦為本集團多間附屬公司
的董事。劉先生負責本集團整體策略規劃
及業務發展、監督投標及報價過程、研發
及制訂整體公司政策。劉先生自1990年
起參與地基工程業務。彼為劉振國先生及
劉振家先生的胞兄、梁麗蘇女士的配偶以
及劉沛珊女士的父親。
劉振國先生，65歲，本集團行政總裁兼執
行董事。彼亦為本集團多間附屬公司的董
事。彼於七十年代加盟本集團。彼負責本
集團地基工程及附屬服務項目的整體管
理。彼自1990年起參與地基工程業務。
彼為劉振明先生及劉振家先生的兄弟、
梁麗蘇女士的小叔及劉沛珊女士的叔叔。
劉振家先生，63歲，執行董事。彼亦為本
集團多間附屬公司的董事。彼於七十年代
加盟本集團，負責本集團機械及設備保養
維修的整體管理。彼自1990年起參與地基
工程業務。彼為劉振明先生及劉振國先生
的胞弟、梁麗蘇女士的小叔及劉沛珊女士
的叔叔。
梁麗蘇女士，70歲，執行董事。彼亦為本
集團多間附屬公司的董事。彼於七十年代
加盟本集團。彼負責本集團的行政管理及
人力資源事務，並參與本集團的管理逾
21年。彼於1997年7月取得香港中文大學
小型公司管理學文憑。彼為劉振明先生的
配偶、劉沛珊女士的母親及劉振國先生及
劉振家先生的嫂嫂。
41
三和建築集團有限公司
二零一七年年報
董事及高級管理層履歷
Profile of Directors and Senior Management
INDEPENDENT NON-EXECUTIVE DIRECTORS
Professor Wong Sue Cheun, Roderick, aged 72, was
appointed as an independent non-executive director of the
Company in September 2014. Professor Wong holds a
bachelor’s degree of arts from San Diego State College in
the United States of America, and a doctoral’s degree in
philosophy in mathematics from the University of Alberta in
Canada. He is a Fellow of the Royal Society of Canada, and
Chevalier dans l’Ordre National de la Légion d’Honneur of
France, and elected as a member of the European Academy of
Sciences. Currently, he is Chair Professor of Mathematics and
the Director of the Liu Bie Ju Centre for Mathematical Sciences
at City University of Hong Kong. He is also the Special
Advisor to the President at Southern University of Science and
Technology of China.
Mr. Chu Tak Sum , aged 69, was appointed as an
independent non-executive director of the Company in
September 2014. Mr. Chu is a registered architect in Hong
Kong under the provisions of the Architects Registration
Ordinance (Cap. 408 of the Laws of Hong Kong) and has been
engaged as an architect for about 40 years. Mr. Chu obtained
a bachelor’s degree of arts in architecture studies from The
University of Hong Kong in 1971. He is also a fellow member
of the Hong Kong Institute of Architects and holds Class
1 Registered Architect qualification of the PRC. Mr. Chu is
currently the managing director of . Chu Architects Limited
and an independent non-executive director of Henry Group
Holdings Limited (stock code: 859).
Mr. Ip Tin Chee, Arnold, aged 54, was appointed as an
independent non-executive director of the Company in
September 2014. Mr. Ip obtained a Master of Arts degree
from Trinity College, Cambridge University. Mr. Ip is chairman
of Altus Holdings Limited (stock code: 8149), which group
focuses on providing corporate finance services to listed
and unlisted companies in Hong Kong, as well as property
investment.
獨立非執行董事
王世全教授，72歲，於2014年9月獲委任
為本公司獨立非執行董事。王教授持有美
國聖地牙哥州立大學的文學學士學位及加
拿大阿爾伯塔大學的數學博士學位。彼為
加拿大皇家學院院士，以及獲法國政府頒
授法國國家榮譽軍團勳章，並獲選為歐洲
科學院院士。現時，彼為香港城市大學數
學系講座教授及劉璧如數學科學研究中心
的中心主任，並在深圳南方科技大學擔任
校長特別顧問。
朱德森先生，69歲，於2014年9月獲委任
為本公司獨立非執行董事。朱先生為香
港法例第408章《建築師註冊條例》所指的
香港註冊建築師，並擔任建築師約40年。
朱先生於1971年取得香港大學建築學文學
士學位。彼亦為香港建築師學會會員及持
有中國一級註冊建築師資格。朱先生現為
朱德森建築師事務所的常務董事，並擔任
鎮科集團控股有限公司（股份代號：859）
的獨立非執行董事。
葉天賜先生，54歲，於2014年9月獲委任
為本公司獨立非執行董事。葉先生在劍橋
大學三一學院取得文學士碩士學位。葉先
生為浩德控股有限公司（股份代號：8149）
主席，其集團專注向香港上市及非上市公
司提供企業融資服務以及物業投資業務。
42
ANNUAL REPORT 2017
SAM WOO CONSTRUCTION GROUP LIMITED
董事及高級管理層履歷
Profile of Directors and Senior Management
Mr. Ip is an independent non-executive director of Pioneer
Global Group Limited (stock code: 224) and an independent
non-executive director of Pak Fah Yeow International Limited
(stock code: 239), each of which is a company listed on the
Main Board of the Stock Exchange. He is also the Chairman of
Japan Residential Assets Manager Limited, the manager of a
real estate investment trust listed in Singapore, and a member
of the Institute of Chartered Accountants in England and
Wales.
SENIOR MANAGEMENT
Mr. Wu Kwai Keung, Peter, aged 62, is the Deputy General
Manager of the foundation division. He is responsible for the
business development, tendering and overall management
of the foundation works and ancillary services projects of the
Group. He obtained a master degree in arbitration & dispute
resolution from City University of Hong Kong in 2003. He has
more than 35 years of experience in the construction industry
both locally and abroad. He is a member of the Institution of
Civil Engineers and Hong Kong Institution of Engineers.
Mr. Lee Wan Cheung, aged 56, is the Technical Director
of the foundation division. He is responsible for the design
and technical issues in the construction of foundation. He
has over 30 years of experience in the construction industry
in both private and public sectors in Hong Kong and the UK.
He obtained a bachelor’s degree in civil engineering from
Kingston Polytechnic in 1986. He is a registered inspector and
a registered structural engineer under the Buildings Ordinance,
a registered professional engineer under the Engineers
Registration Board, a member of the Institution of Structural
Engineers and the Hong Kong Institution of Engineers.
葉先生為聯交所主板上市公司建生國際集
團有限公司（股份代號：224）的獨立非執
行董事及白花油國際有限公司（股份代號：
239）的獨立非執行董事。彼亦為Japan
Residential Assets Manager Limited（一
項於新加坡上市的房地產投資信託公司的
管理）的主席，並為英格蘭及威爾斯特許
會計師公會會員。
高級管理層
胡 季 強 先 生，62歲，為地基部的副總經
理。彼負責本集團地基工程及附屬服務項
目的業務發展、投標及整體管理工作。於
2003年，彼獲得香港城市大學仲裁及爭議
解決學碩士學位。彼於建造行業擁有超過
35年本地及海外經驗。彼為英國土木工程
師學會及香港工程師學會會員。
李 運 祥 先 生，56歲，為地基部的技術總
監。彼負責建造地基的設計及技術事務。
彼擁有逾30年的香港及英國公私營界別
建築業經驗。彼於1986年取得Kingston
Polytechnic的土木工程學士學位。彼為
《建築物條例》所指的註冊檢驗人員及註冊
結構工程師、工程師註冊管理局的註冊專
業工程師，以及英國結構工程師學會及香
港工程師學會的成員。
43
三和建築集團有限公司
二零一七年年報
董事及高級管理層履歷
Profile of Directors and Senior Management
Mr. Jesse, Colin John, aged 64, is an adviser to the
Board. He is responsible for advising the Board on overall
development strategies in the construction and foundation
industries. He has over 41 years of experience in the
construction industry.
Mr. Kwok Kan Kuen, Lawrence, aged 53, is a project
manager of the foundation division. He is responsible for the
supervision of the related foundation projects of the Group.
Prior to joining the Group in July 2012, he has over 20 years of
experience in the engineering field. He obtained a bachelor’s
degree in civil engineering from the Chu Hai College in 1987
and a master’s degree of science in international construction
management and engineering from the University of Leeds
in the United Kingdom in 1994. He is currently a registered
professional engineer under the Engineer Registrat ion
Ordinance (Cap. 409 of the Laws of Hong Kong) and a
member of each of the Institution of Civil Engineers of the
United Kingdom and the Hong Kong Institution of Engineers,
respectively.
Mr. Yiu Yu Ho, Thomas, aged 67, is the Operational Director
of the foundation division. He is responsible for the managing,
supervising and actuating the current projects of the Group. He
has over 46 years of experience, working in the construction
industry, since graduated in 1971 from Civil Engineering
Department of Hong Kong Baptist College.
Ms. Lau Pui Shan, aged 43, is the chief financial officer of the
Group and a director of certain subsidiaries within the Group.
She joined the Group in September 1999. She is responsible
for f inancial accounting, treasury and banking matters,
investors relation and information technology system of the
Group. She obtained a bachelor’s degree of commerce in
accounting and finance and a master’s degree of commerce in
international business from the University of New South Wales
in Australia. She is a fellow certified practicing accountant of
CPA Australia and a fellow member of the Hong Kong Institute
of Certified Public Accountants. She is the daughter of Mr. Lau
Chun Ming and Ms. Leung Lai So.
Jesse, Colin John先生，64歲，為董事
會顧問。彼負責向董事會就提供有關建築
及地基行業整體發展策略方面的意見。彼
於建造行業擁有逾41年經驗。
郭根權先生，53歲，地基部的項目經理，
負責監督本集團的相關地基項目。彼於
2012年7月加盟本集團之前，已於工程領
域累積逾20年的經驗。郭先生於1987年取
得珠海學院土木工程學士學位及於1994年
取得英國利茲大學的國際建築管理與工程
理學碩士學位。郭先生現時為香港法例第
409章《工程師註冊條例》所指的註冊專業
工程師，並為英國土木工程師學會會員及
香港工程師學會會員。
姚 汝 豪 先 生，67歲，為地基部的營運總
監。彼負責本集團營運中之工程項目之管
理，督導及推動工作。自1971年畢業於浸
會學院土木工程系後，彼於建造行業擁有
逾46年之經驗。
劉沛珊女士，43歲，為本集團財務總裁及
本集團若干附屬公司的董事。彼於1999年
9月加盟本集團。彼負責本集團財務、會
計、司庫及銀行事務、投資者關係及資訊
科技系統。彼持有澳洲新南威爾士大學的
會計及金融商學士學位及國際商務碩士學
位。彼為澳洲會計師公會的澳洲資深註冊
會計師及香港會計師公會的資深會員。彼
為劉振明先生及梁麗蘇女士的女兒。
44
ANNUAL REPORT 2017
SAM WOO CONSTRUCTION GROUP LIMITED
董事及高級管理層履歷
Profile of Directors and Senior Management
COMPANY SECRETARY
Mr. Chan Sun Kwong, aged 50, is the company secretary
of the Company. He obtained a diploma of business
administration from the Hong Kong Shue Yan College (now
known as Hong Kong Shue Yan University) in 1990. He is
a fellow member of the Hong Kong Institute of Chartered
Secretaries, the Institute of Chartered Secretaries and
Administrators in the United Kingdom, the Association of
Chartered Certified Accountants in the United Kingdom and the
Hong Kong Institute of Certified Public Accountants. He is an
accredited mediator of The Hong Kong Mediation Centre. He
has over 21 years company secretarial experience.
公司秘書
陳 晨 光 先 生，50歲，為本公司的公司秘
書。彼於1990年獲得香港樹仁學院（現稱
香港樹仁大學）工商管理文憑。彼為香港
特許秘書公會、英國特許秘書及行政人員
公會、英國特許公認會計師公會及香港會
計師公會資深會員。彼為香港和解中心認
可調解員。彼擁有逾21年的公司秘書經
驗。
45
三和建築集團有限公司
二零一七年年報
董事會報告
Directors’ Report
The directors of the Company submit their report together
with the audited financial statements of the Group for the year
ended 31 March 2017.
PRINCIPAL ACTIVITIES
The principal activity of the Company is investment holding.
The Group is principally engaged in the provision of foundation
works and ancillary services. The principal activities of the
subsidiaries of the Company are set out in note 12 to the
consolidated financial statements. The segment information of
the operations of the Group for the year ended 31 March 2017
is set out in note 5 to the consolidated financial statements.
BUSINESS REVIEW
The business review and principal risks of the Group for
the year are included in the Chairman’s Statement and
Management Discussion and Analysis in this annual report.
The environmental pol ic ies and relat ionships with key
stakeholders are included in the Management Discussion and
Analysis in this annual report. Further details of the above are
included in the Corporate Social Responsibility Report in this
annual report.
RESULTS AND DIVIDENDS
The results of the Group for the year ended 31 March 2017 are
set out in the consolidated statement of comprehensive income
on page 70 of this annual report.
The directors recommended the payment of a final dividend
of cent per share, amounting to HK$ million,
representing approximately 32% dividend ratio on an annual
basis. Such payment of dividends will be subject to the
approval of shareholders at the forthcoming annual general
meeting of the Company to be held on 7 September 2017
and are payable to shareholders whose names appear on the
register of members of the Company at the close of business
on 14 September 2017. It is expected that the proposed final
dividend will be paid on or about 6 October 2017.
FIVE YEAR FINANCIAL SUMMARY
A summary of the published results and of the assets and
liabilities of the Group for the last five years is set out on page
164 of this annual report.
本公司董事提呈其截至2017年3月31日止
年度的報告連同本集團的經審核財務報
表。
主要業務
本公司的主要業務為投資控股。本集團主
要從事提供地基工程及附屬服務業務。本
公司附屬公司的主要業務載於綜合財務報
表附註12。本集團截至2017年3月31日止
年度的業務分部資料載於綜合財務報表附
註5。
業務回顧
本集團於本年度的業務回顧及主要風險已
載於本年報的主席報告及管理層討論與分
析內。
環境政策及與主要持份者的關係載於本年
報的管理層討論與分析內。有關上述詳情
載於本年報的企業社會責任報告內。
業績及股息
本集團於截至2017年3月31日止年度的業
績載於第70頁的綜合全面收益表內。
董事建議派發末期股息每股港仙，合
共約為16,800,000港元，相當於按年度基
準計算的股息比率約32%。該股息派發將
待股東於2017年9月7日舉行的本公司應屆
股東週年大會上批准後，方告作實，並將
派發予於2017年9月14日營業時間結束時
名列本公司股東名冊的股東。預期建議末
期股息將於2017年10月6日或前後派發。
五年財務概要
本集團過去五個年度的已刊發業績及資產
負債概要載於本年報第164頁。
46
ANNUAL REPORT 2017
SAM WOO CONSTRUCTION GROUP LIMITED
董事會報告
Directors’ Report
DONATIONS
Charitable and other donations made by the Group during the
year amounted to about HK$50,000.
DISTRIBUTABLE RESERVES
Distributable reserves of the Company at 31 March 2017,
calculated under the Companies Law, Cap 22 (Law 3 of 1961,
as consolidated and revised), of the Cayman Islands, amounted
to HK$202 million (2016: HK$209 million).
SHARES ISSUED IN THE YEAR
Details of the shares issued in the year ended 31 March 2017 are
set out in note 18 to the consolidated financial statements.
PRE-EMPTIVE RIGHTS
There is no provision for pre-emptive r ights under the
Company’s articles of association and there was no restriction
against such rights under the laws of the Cayman Islands,
which would oblige the Company to offer new shares on a pro
rata basis to existing shareholders.
PURCHASE, SALE OR REDEMPTION OF THE
COMPANY’S LISTED SECURITIES
Neither the Company nor any of i ts subsidiar ies had
purchased, sold or redeemed any of the Company’s listed
securities during the year ended 31 March 2017.
SHARE OPTION SCHEME
A share option scheme (the “Scheme”) was adopted pursuant
to a shareholders’ written resolution of the Company passed
on 15 September 2014. No options have been granted,
exercised or cancelled under the Scheme since its adoption up
to the date of this annual report.
捐款
本集團於年內作出慈善及其他捐款合共
50,000港元。
可供分派儲備
於2017年3月31日，本公司根據開曼群島
法例第22章《公司法》（1961年法例三，
經綜合及修訂本）計算的可供分派儲備為
202,000,000港元（2016年：209,000,000
港元）。
年內已發行股份
於截至2017年3月31日止年度的已發行股
份詳情載於綜合財務報表附註18。
優先購買權
本公司的組織章程細則並無有關優先購買
權的條文，而開曼群島法例並無對該等權
利施加限制，規定本公司須按比例向現有
股東提呈新股份。
購買、出售或贖回本公司上市證券
本公司或其任何附屬公司於截至2017年3
月31日止年度概無購買、出售或贖回本公
司任何上市證券。
購股權
本公司根據於2014年9月15日通過的股東
書面決議案，採納一項購股權計劃（「該計
劃」）。自採納該計劃起至本年報日期為
止，並無根據該計劃授出、行使或註銷任
何購股權。
47
三和建築集團有限公司
二零一七年年報
董事會報告
Directors’ Report
The purpose of the Scheme is to attract and retain personnels
to remain with the Group and to motivate them to optimise
their performance and efficiency for the benefit of the Group by
providing them with the opportunity to acquire equity interests
in the Company. The Board may, at its discretion, grant
options pursuant to the Scheme to the directors (including
executive directors, non-executive directors and independent
non-executive directors), the directors of the Company’s
subsidiaries and employees of the Group and any other
persons (including consultants or advisers) whom the Board
considers, in its absolute discretion, have contributed or will
contribute to the Group.
Total number of shares in respect of which options may be
granted to the Scheme and any other share options schemes
of the Company shall not exceed 10% of the shares in issue
on the Company’s listing date, . 16 October 2014, being
40,000,000 shares of HK$ each on the listing date
(or equivalent to 160,000,000 shares of HK$ each
subsequent to share subdivision effective on 23 December
2015) (the “Scheme Mandate Limit”). The Company may
renew the Scheme Mandate Limit with shareholders’ approval
provided that each such renewal must not exceed 10% of
the shares in the Company in issue as at the date of the
shareholders’ approval.
The maximum number of shares underlying all outstanding
options which have been granted and have yet to be exercised
pursuant to the Scheme and any other share option schemes
of the Company must not, in aggregate, exceed 30% of the
shares in issue from time to time.
Unless approved by shareholders of the Company in the
manner as set out in the Scheme, the maximum number
of shares underlying the options granted to each eligible
par t ic ipant ( inc lud ing both exerc ised, cance l led and
outstanding options) in any 12-month period shall not exceed
% of the shares in issue for the time being.
The period during which an option may be exercised by
a grantee (the “Option Period”) shall be the period to be
determined and notified by the Board to the grantee at the time
of making an offer, which shall not expire later than 10 years
from the offer date.
該計劃的目的是藉著向各員工提供購買本
公司股權的機會，吸引及挽留彼等留任本
集團，並鼓勵彼等提升表現及效率，為本
集團獲利而努力。董事會可根據該計劃酌
情向董事（包括執行董事、非執行董事及
獨立非執行董事）、本公司附屬公司的董
事及本集團的僱員授出購股權，亦可向董
事會全權認為曾對或將會對本集團作出貢
獻的任何其他人士（包括諮詢人或顧問）授
出購股權。
根據該計劃及本公司任何其他購股權計劃
可予授出的購股權所涉及的股份總數，不
得超過本公司於上市日期（2014年10月16
日）已發行股份的10%（即40,000,000股
於上市日期每股面值港元的股份（或
相當於2015年12月23日生效的股份拆細
後的160,000,000股每股面值港元
的股份））（「計劃授權上限」）。本公司可經
股東批准下重訂計劃授權上限，惟每次進
行的有關重訂均不得超過本公司於股東批
准當日已發行股份的10%。
根據該計劃及本公司任何其他購股權計劃
已授出但尚未行使的所有購股權所涉及的
股份最高數目，合共不得超過不時已發行
股份的30%。
除非按該計劃所載方式獲本公司股東批
准，每名合資格參與者在任何十二個月期
間內獲授的購股權（包括已行使、已註銷
及尚未行使的購股權）所涉及的股份最高
數目，不得超過當時已發行股份的%。
承授人可行使購股權的期間（「購股權期
間」）將由董事會於提呈要約時釐定及向承
授人知會，有關期間不得於要約日期起計
十年後屆滿。
48
ANNUAL REPORT 2017
SAM WOO CONSTRUCTION GROUP LIMITED
董事會報告
Directors’ Report
Subject to any restrictions applicable under the Listing Rules, an
option may be exercised in whole or in part by the grantee at any
time during the Option Period in accordance with the terms of the
Scheme and the terms on which the option was granted.
The grantee shall pay HK$ upon acceptance of an offer of
an option.
The exercise price shall be determined by the Board but in any
event shall not be less than the highest of: (a) the closing price of
the shares as stated in the daily quotations sheets issued by the
Stock Exchange on the offer date, which must be a trading day;
(b) the average closing price of the shares as stated in the daily
quotation sheets issued by the Stock Exchange for the five trading
days immediately preceding the offer date; or (c) the nominal value
of the shares on the offer date of the relevant option.
The Scheme will remain in force for a period of 10 years after
the date of adoption.
DIRECTORS
The directors of the Company during the year and up to the
date of this report were:
Executive directors
Mr. Lau Chun Ming (Chairman)
Mr. Lau Chun Kwok (Chief Executive Officer)
Mr. Lau Chun Ka
Ms. Leung Lai So
Independent non-executive directors
Professor Wong Sue Cheun, Roderick
Mr. Chu Tak Sum
Mr. Ip Tin Chee, Arnold
In accordance with article 84 of the Company’s articles of
association, Mr. Lau Chun Ming, Professor Wong Sue Cheun,
Roderick and Mr. Ip Tin Chee, Arnold will retire and, being
eligible, will offer themselves for re-election at the forthcoming
annual general meeting.
在上市規則項下任何適用限制的規限下，
承授人可根據該計劃的條款及授出購股權
的條款於購股權期間隨時行使全部或部分
購股權。
承授人接納購股權要約時須繳付港
元。
行使價由董事會釐定，惟於任何情況下不
得低於以下最高者：(a)聯交所於相關購股
權要約日期（須為交易日）發出的每日報價
表所報股份的收市價；(b)聯交所於緊接相
關購股權要約日期前五個交易日發出的每
日報價表所報股份的平均收市價；及(c)股
份於相關購股權要約日期的面值。
該計劃將於採納日期後十年期間生效。
董事
於本年度內至本報告日期止的本公司董事
如下：
執行董事
劉振明先生（主席）
劉振國先生（行政總裁）
劉振家先生
梁麗蘇女士
獨立非執行董事
王世全教授
朱德森先生
葉天賜先生
根據本公司組織章程細則第84條，劉振明
先生、王世全教授及葉天賜先生將於應屆
股東週年大會上告退，並符合資格膺選連
任。
49
三和建築集團有限公司
二零一七年年報
董事會報告
Directors’ Report
The Company has received, from each of the independent
non-executive directors, an annual confirmation of his
independence pursuant to rule of the Listing Rules. The
Company considered all of the independent non-executive
directors to be independent.
DIRECTORS’ SERVICE CONTRACTS
None of the directors being proposed for re-election at the
forthcoming annual general meeting has a service contract with
any member of the Group which is not determinable by the
Group within one year without payment of compensation (other
than statutory compensation).
DIRECTORS’/CONTROLLING SHAREHOLDERS’
MATERIAL INTERESTS IN TRANSACTIONS,
ARRANGEMENTS AND CONTRACTS THAT ARE
SIGNIFICANT IN RELATION TO THE GROUP’S
BUSINESS
Save for disclosed elsewhere in this annual report, no
transactions, arrangements and contracts of significance in
relation to the Group’s business to which the Company’s
subsidiaries, fellow subsidiaries or its parent companies was a
party and in which a director or controlling shareholders of the
Company and the directors’ connected party had a material
interest, whether directly or indirectly, subsisted at the end of
the year or at any time during the year.
BIOGRAPHICAL DETAILS OF DIRECTORS AND
SENIOR MANAGEMENT
Brief biographical details of directors and senior management
are set out on pages 40 to 44.
本公司已接獲每位獨立非執行董事根據上
市規則第條就其獨立性作出的年度確
認書。本公司認為所有獨立非執行董事均
符合有關獨立性的要求。
董事的服務合約
概無擬於應屆股東週年大會上膺選連任的
董事與本集團任何成員公司訂有不可由本
集團於一年內終止而毋須支付補償款項
（法定補償除外）的服務合約。
董事╱控股股東於對本集團業務而言屬
重大的交易、安排及合約中擁有的重大
權益
除於本年報其他部分所披露者外，本公司
的附屬公司、同系附屬公司或母公司於年
末或年內任何時間，並無訂有任何對本集
團業務而言屬重大且本公司董事或控股股
東及董事的關連人士於當中擁有重大權益
（不論直接或間接）的交易、安排及合約。
董事及高級管理層履歷
董事及高級管理層履歷載於第40至第44
頁。
50
ANNUAL REPORT 2017
SAM WOO CONSTRUCTION GROUP LIMITED
董事會報告
Directors’ Report
DISCLOSURE OF INTERESTS
As at 31 March 2017, the interests and short positions of
directors in the shares, underlying shares and debentures
of the Company and its associated corporation (within the
meaning of Part XV of the Securities and Futures Ordinance
(“SFO”)) as recorded in the register required to be kept under
section 352 of the SFO, or as notified to the Company and the
Stock Exchange pursuant to the Model Code for Securities
Transactions by Directors of Listed Issuers as set out in
Appendix 10 of the Listing Rules, are as follows:
(a) Directors’ interest in the Company:
Name of director
Number of ordinary shares
of HK$ each held (long position)
Percentage of
shareholding Capacity
董事姓名 所持每股面值港元的普通股數目（好倉） 持股百分比 身份
Mr. Lau Chun Ming 1,200,000,000 % Founder of a discretionary trust
劉振明先生 全權信託的創辦人
Ms. Leung Lai So 1,200,000,000 % Beneficiary of a
discretionary trust
梁麗蘇女士 全權信託的受益人
(b) Directors’ interest in associated corporations of the
Company:
Name of director
Name of associated
corporation Number of shares
Percentage of
shareholding Capacity
董事姓名 相聯法團名稱 股份數目 持股百分比 身份
Mr. Lau Chun Ming Actiease Assets Limited 61 shares 100% Founder of a discretionary trust
劉振明先生 61股 全權信託的創辦人
Mr. Lau Chun Ming Silver Bright Holdings Limited 10,000 shares 100% Founder of a discretionary trust
劉振明先生 10,000股 全權信託的創辦人
Ms. Leung Lai So Actiease Assets Limited 61 shares 100% Beneficiary of a
discretionary trust
梁麗蘇女士 61股 全權信託的受益人
Ms. Leung Lai So Silver Bright Holdings Limited 10,000 shares 100% Beneficiary of a discretionary
trust
梁麗蘇女士 10,000股 全權信託的受益人
權益披露
於2017年3月31日，董事於本公司及其相
聯法團（定義見證券及期貨條例（「證券及
期貨條例」）第XV部）的股份、相關股份及
債券中擁有根據證券及期貨條例第352條
須予存置的登記冊所記錄的權益及淡倉，
或根據上市規則附錄10所載的上市發行人
董事進行證券交易的標準守則須知會本公
司及聯交所的權益及淡倉如下：
(a) 董事於本公司的權益：
(b) 董事於本公司相聯法團的權益：
51
三和建築集團有限公司
二零一七年年報
董事會報告
Directors’ Report
So far as the directors are aware, as at 31 March 2017 the
interest and short positions of the persons, other than a director
or chief executive of the Company, in the shares and underlying
shares of the Company as recorded in the register required to
be kept under section 336 of the SFO are as follows:
(c) Substantial shareholders’ interests and short positions in
the Company
Number of ordinary shares of Percentage of
Name of shareholder HK$ each held shareholding Capacity
所持每股面值港元的
董事名稱 普通股數目 持股百分比 身份
Actiease Assets Limited Long position 1,200,000,000 % Beneficial owner
好倉1,200,000,000股 實益擁有人
Silver Bright Holdings Limited Long position 1,200,000,000 % Interest of a controlled
好倉1,200,000,000股 corporation
受控制法團的權益
Managecorp Limited Long position 1,200,000,000 % Trustee
as trustee of a unit trust 好倉1,200,000,000股 受託人
（作為單位信託的受託人）
First Names (NTC) Trustees Asia
Limited (formerly known as
Nautilus Trustees Asia Limited)
（前稱Nautilus Trustees Asia
Limited）
Long position 1,200,000,000
好倉1,200,000,000股
% Trustee
受託人
Notes:
1. 1,200,000,000 shares were held by Actiease Assets
Limited, a company wholly owned by Si lver Bright
Hold ings L imi ted which is ind i rect ly owned by a
discretionary trust of which Ms. Leung Lai So is the
beneficiary.
2. Silver Bright Limited is 100% held by Managecorp Limited
as trustee of a unit trust, of which issued units are 100%
held by First Names (NTC) Trustees Asia Limited (formerly
known as Nautilus Trustees Asia Limited) as trustee of a
discretionary trust set up by Mr. Lau Chun Ming.
就董事所知，於2017年3月31日，以下人
士（不包括本公司董事或主要行政人員）於
本公司股份及相關股份中擁有根據證券及
期貨條例第336條須予存置的登記冊所記
錄的權益及淡倉：
(c) 主要股東於本公司的權益及淡倉
附註：
1. 1,200,000,000股股份由Silver
Bright Holdings Limited全資
擁有的公司Act iease Assets
Limited所持有，而Silver Bright
Holdings Limited由其受益人為梁
麗蘇女士的全權信託間接擁有。
2. Silver Bright Holdings Limited由
單位信託的受託人Managecorp
L i m i t e d 1 0 0 % 持 有 ， 而
Managecorp Limited的已發行
單位則由Fi rs t Names (NTC)
Trustees Asia L imited（前稱
Nautilus Trustees Asia Limited）
作為劉振明先生設立的全權信託
的受託人100%持有。
52
ANNUAL REPORT 2017
SAM WOO CONSTRUCTION GROUP LIMITED
董事會報告
Directors’ Report
MANAGEMENT CONTRACTS
No contracts concerning the management and administration
of the whole or any substantial part of the business of the
Company were entered into or existed during the year.
DEED OF NON-COMPETITION
The controlling shareholders have confirmed to the Company
of their compliance with the non-competition undertakings
provided to the Company under a deed of non-competition
dated 15 September 2014.
In addit ion, the Company requested and obtained the
information of the companies owned by the controll ing
shareholders of the Company. The independent non-executive
directors, based on their review of the confirmation, noted that
no engagement in competing business had been reported by
the controlling shareholder of the Company during the year
ended 31 March 2017; and there was no particular situation
rendering the full compliance of the undertakings being
questionable.
MAJOR CUSTOMERS AND SUPPLIERS
During the year, the Group’s f ive largest customers in
aggregate accounted for approximately 100% (2016: 96%) of
the Group’s total turnover. The largest customer accounted for
approximately 49% (2016: 60%) of the Group’s total turnover.
During the year, the Group’s f ive largest suppl iers in
aggregate accounted for approximately 90% (2016: 71%) of
the Group’s total purchases. The largest supplier accounted
for approximately 60% (2016: 26%) of the Group’s total
purchases.
To the best of the knowledge of the directors, none of the
directors, their associates or any shareholder (which to
the knowledge of the directors owns more than 5% of the
Company’s share capital) had an interest in these major
suppliers or customers.
管理合約
於年內概無訂立或存有關於本公司全部或
任何重大部分業務的管理及行政方面的合
約。
不競爭契據
控股股東已向本公司確認，其已遵守根據
日期為2014年9月15日的不競爭契據向本
公司作出的不競爭承諾。
此外，本公司已索取並獲取本公司控股股
東所擁有公司的資料。獨立非執行董事根
據其對確認書的審閱注意到本公司控股股
東於截至2017年3月31日止年度概無匯報
曾參與競爭業務，亦不存在關於完全遵守
承諾有爭議之特殊情況。
主要客戶及供應商
於年內，本集團五大客戶合共佔本集團
總營業額約100%（2016年：96%）。最大
客戶佔本集團總營業額約49%（2016年：
60%）。
於年內，本集團五大供應商合共佔本集團
總採購額約90%（2016年：71%）。最大供
應商佔本集團總採購額約60%（2016年：
26%）。
就董事所知，概無董事、彼等的聯繫人士
或任何股東（就董事所知擁有本公司股本
5%以上的人士）於上述主要供應商或客戶
中擁有權益。
53
三和建築集團有限公司
二零一七年年報
董事會報告
Directors’ Report
RELATED PARTY TRANSACTIONS
The significant related party transactions entered into by
the Group during the year set out in note 26 to the financial
statements included transactions that constitute connected/
continuing connected transactions for which the disclosure
requirements under the Listing Rules have been complied with.
CONTINUING CONNECTED TRANSACTIONS
During the year ended 31 March 2017, the Group had the
following continuing connected transactions:
Tenancy Agreements
Name of landlords Term of lease agreements Monthly rent Annual rent
業主名稱 租賃協議年期 每月租金 每年租金
(HK$) (HK$)
（港元） （港元）
Leasing of storage property for use as open storage and service depot for the Group
租賃存倉物業以用作本集團的露天存倉及維修場
Cheer Crown Limited 1/8/2014 ~ 31/7/2017 180,000 2,160,000
嘉勳有限公司
Leasing of residential properties and car parking spaces for use as quarter for the directors
租賃住宅物業及停車位以用作董事的居所
Cheer Wealth International 1/8/2014 ~ 31/7/2017 73,000 876,000
Development Limited
富怡國際發展有限公司
East Ascent Enterprises Limited 1/8/2014 ~ 31/7/2017 3,800 45,600
東升企業有限公司
Cheer Profit International 1/8/2014 ~ 31/7/2017 3,800 45,600
Enterprise Limited
置利國際企業有限公司
Long Ascent Development Limited 1/8/2014 ~ 31/7/2017 50,000 600,000
長升發展有限公司
Healthy World Investment Limited 1/8/2014 ~ 31/7/2017 50,000 600,000
健匯投資有限公司
Total transaction amounts for the year ended 31 March 2017 4,327,200
截至2017年3月31日止年度的交易總額
Annual cap as disclosed in the
Prospectus
招股章程所披露的年度上限
For the year ending 31 March 2017 截至2017年3月31日止年度 4,327,200
關聯人士交易
本集團於本年度訂立的重大關聯交易載於
財務報表附註26，包括構成關連╱持續關
連交易的交易，而本集團已就該等交易遵
守上市規則的披露規定。
持續關連交易
於截至2017年3月31日止年度，本集團的
持續關連交易如下：
租賃協議
54
ANNUAL REPORT 2017
SAM WOO CONSTRUCTION GROUP LIMITED
董事會報告
Directors’ Report
The rents paid by the Group to the above landlords were
determined on an arm’s length basis and reflected the
prevailing market rents at the time. The relevant tenancy
agreements were also entered into by the parties on normal
commercial terms.
Relationships with Connected Persons
As Mr. Lau Chun Ming, Mr. Lau Chun Kwok, Mr. Lau Chun
Ka and Ms. Leung Lai So, each a director, and Ms. Lau Pui
Shan, a daughter of Mr. Lau Chun Ming and Ms. Leung Lai So,
owned the beneficial interests in the above landlords, each of
the landlords above was therefore considered as a connected
person of the Company and hence the transactions referred
above constituted continuing connected transactions under
Chapter 14A of the Listing Rules.
Review of Continuing Connected Transactions
The continuing connected transactions mentioned above have
been reviewed by the independent non-executive directors
of the Company who have confirmed that the transactions
have been entered into (a) in the ordinary and usual course of
business of the Company; (b) on normal commercial terms or
better; and (c) according to the relevant agreements governing
them on terms that are fair and reasonable and in the interests
of the Company’s shareholders as a whole.
The Company’s auditor was engaged to report on the Group’s
continuing connected transactions in accordance with Hong
Kong Standard on Assurance Engagements 3000 “Assurance
Engagements Other Than Audits or Reviews of Historical
Financial Information” and with reference to Practice Note 740
“Auditor’s Letter on Continuing Connected Transactions under
the Listing Rules” issued by the Hong Kong Institute of Certified
Public Accountants. The auditor has issued an unqualified
letter containing their findings and conclusions in respect of the
continuing connected transactions disclosed by the Group on
pages 47 to 48 in this annual report in accordance with rule
of the Listing Rules. A copy of the auditor’s letter has
been provided by the Company to the Stock Exchange.
本集團向上述業主支付的租金乃按公平原
則釐定，並已反映當時的現行市場租金。
同樣，相關租賃協議由訂約各方按正常商
業條款訂立。
與關連人士的關係
由於劉振明先生、劉振國先生、劉振家
先生及梁麗蘇女士（彼等各自為董事）及
劉沛珊女士（劉振明先生及梁麗蘇女士
的女兒）於以上業主中擁有實益權益，因
此以上業主均被視為本公司的關連人士，
上述所指的交易亦因而構成上市規則第
14A章項下的持續關連交易。
審閱持續關連交易
本公司的獨立非執行董事已審閱上述持續
關連交易，並確認交易乃(a)於本公司日常
一般業務過程中；(b)按一般商業條款或更
佳條款；及(c)根據規管該等交易的相關協
議，屬公平合理，且符合本公司股東整體
利益而訂立。
本公司核數師獲委聘，遵照香港會計師公
會頒發的香港鑒證業務準則第3000號「歷
史財務資料審核或審閱以外的鑒證工作」
並參考實務說明第740號「上市規則規定的
持續關連交易的核數師函件」，就本集團
的持續關連交易作出報告。根據上市規則
第條，核數師已就本集團於本年報
第47至第48頁披露的持續關連交易，發出
載有彼等的審核結果及結論的無保留意見
函件。本公司已向聯交所呈交核數師函件
的副本。
55
三和建築集團有限公司
二零一七年年報
董事會報告
Directors’ Report
Save as disclosed above, a summary of significant related
party t ransact ions that d id not const i tute connected
transactions made during the year is disclosed in note 26 to
the financial statements.
CONNECTED TRANSACTION
On 29 March 2017, Capital Plus Group Limited as purchaser,
being a wholly-owned subsidiary of the Company, entered
into the sale and purchase agreement with Sky Ease Holdings
Limited, as vendor to acquire the sale shares (representing 5%
of entire issued share capital of the target company, namely
Gold Champion Enterprises Limited) for a cash consideration of
HK$19,750,000 (subject to adjustment).
The principal business of the target company together with its
subsidiaries is property investment, with three parcels of land in
the New Territories as its major assets and rental income as its
major income.
The vendor is wholly-owned by Mr. Lau Chun Ming, who is the
chairman, an executive director and substantial shareholder of
the Company. Accordingly, the abovementioned investment
constitutes a connected transaction for the Company under the
Listing Rules. As the highest applicable percentage ratios in
respect of the Investment is more than % but less than 5%,
the investment is subject to the reporting and announcement
requ i rements , bu t i s exempt f rom the i ndependen t
shareholders’ approval requirement under Chapter 14A of the
Listing Rules.
For details, please refer to the announcement of the Company
dated 29 March 2017.
The complet ion of th is sale and purchase agreement
took place on 31 March 2017 with no adjustment on the
consideration. The investment is recorded as “available-for-
sale financial assets” as non-current asset of the Group in the
consolidated financial statements as at 31 March 2017.
除上文披露者外，於年內作出的並不構成
關連交易的重大關聯人士交易概要於財務
報表附註26披露。
關連交易
於2017年3月29日，Capital Plus Group
Limited（作為買方）（即本公司全資附屬公
司）與天安控股有限公司（作為賣方）訂立
買賣協議，以按現金代價19,750,000港元
（可予調整）收購待售股份（相當於目標公
司（即金冠企業有限公司）全部已發行股本
5%）。
目標公司連同其附屬公司的主要業務為物
業投資，三幅位於新界的土地為其主要資
產，而租金收入為其主要收入。
賣方由劉振明先生（本公司主席、執行董
事兼主要股東）全資擁有。因此，根據上
市規則，上述投資構成本公司一項關連交
易。由於有關投資事項的最高適用百分
比率高於%但低於5%，因此投資事項
須遵守上市規則第14A章項下的申報及公
告規定，惟獲豁免遵守獨立股東批准的規
定。
有關詳情，請參閱本公司日期為2017年3
月29日的公告。
此買賣協議已於2017年3月31日完成，並
無調整代價。投資於本集團於2017年3月
31日綜合財務報表中入賬為非流動資產項
下的「可供出售金融資產」。
56
ANNUAL REPORT 2017
SAM WOO CONSTRUCTION GROUP LIMITED
董事會報告
Directors’ Report
MARKET CAPITALISATION
As at 31 March 2017, the market capitalisation of the listed
securities of the Company was approximately HK$454 million
based on the total number of 1,680,000,000 issued shares of
the Company and the closing price of HK$ per share.
SUFFICIENCY OF PUBLIC FLOAT
Based on information that is publicly available to the Company
and within the knowledge of the directors, the Company has
maintained the prescribed public float under the Listing Rules
during the year ended 31 March 2017 and as at the date of this
report.
COMPLIANCE WITH LAWS AND REGULATIONS
During the year and up to the date of this report, the Group
had complied with all the relevant laws and regulations in the
places where we operate in all material respects.
PERMITTED INDEMNITY PROVISION
The Company’s Articles provides that every director is entitled
to be indemnified out of the assets of the Company against
all losses or liabilities which he/she may sustain or incur in or
about the execution of duties of his/her office or otherwise in
relation thereto provided that such indemnity shall not extend
to any matter in respect of fraud or dishonesty which may
attach to the director.
The Company has taken out and maintained directors’ liability
insurance throughout the year, which provides appropriate
cover for the directors.
EVENTS AFTER THE REPORTING PERIOD
Save for below, there is no material subsequent event
undertaken by the Company or by the Group after 31 March
2017 and up to the date of this annual report.
市值
於2017年3月31日，按本公司已發行股
份總數1,680,000,000股以及每股收市價
港元計算，本公司上市證券的市值約
為454,000,000港元。
充足的公眾持股量
根據本公司獲得的公開資料及就董事所
知，於截至2017年3月31日止年度及於本
年報日期，本公司一直維持上市規則指定
的公眾持股量。
遵守法律及規例
於年內及直至本報告日期，本集團已在各
重要方面遵守旗下營運所在地的全部相關
法律及規例。
獲准許彌償條文
本公司組織章程細則規定，就其任期內或
因執行其職務而可能遭致或發生與此相關
之所有損失或責任，每位董事有權從本公
司資產中獲得賠償，惟與董事本身之欺詐
或不誠實事宜有關者除外。
本公司於年內已購買及維持全年的董事責
任保險，為董事提供適當的保障。
報告期後事項
除下述者外，本公司或本集團於2017年3
月31日後及截至本年報日期並無進行任何
重大其後事項。
57
三和建築集團有限公司
二零一七年年報
董事會報告
Directors’ Report
Board resolution approving the partial return of the deposit
placed by the controlling shareholders to the Group pursuant
to the Deed of Indemnity
The control l ing shareholders of the Company provided
indemnity (“Deed of Indemnity” dated 25 September 2014
as mentioned in the prospectus of the Company) in favour of
the Group in relation to, among others, taxation in respect of
income earned by the Group on or before 16 October 2014,
being the listing date of the Company, save for tax liabilities
which have already been provided for in the audited accounts
of the Company and its subsidiaries up to 31 March 2014. In
particularly, the controlling shareholders have deposited a sum
of HK$20 million in favour of the Group solely for the purpose
of settling any claim from tax authorities in Macau or Hong
Kong and the costs incurred in connection with the Machinery
Lease Agreement and the Machinery Agency Agreement before
the listing date of the Company. The said sum of HK$20
million shall not be released and returned to the controlling
shareholders until and after all claims, if any, related to the
above have been concluded and fully settled and/or time-
barred in both Hong Kong and Macau.
Pursuant to the latest tax opinion on the Macau tax positions
for the years 2013 and 2014 issued by Reanda EFA; and the
tax opinion on the Hong Kong and Macau tax positions for
the years 2013 and 2014 issued by Lau & Au Yeung .
Limited on 13 June 2017, (a) the final and conclusive tax
assessment and final tax demand note for the years 2013 and
2014 were issued by the tax authority in Macau, the Group
has fully settled the required tax for the years of assessment
of 2013 and 2014 in Macau; the Macau tax assessment for
the years 2013 and 2014 have been concluded, final and
settled and (b) there is no tax liability so far demanded by
Hong Kong tax authority in respect of the transactions and
income contemplated under the Machinery Lease Agreement
and the Machinery Agency Agreement and they are satisfied
to conclude that no additional tax provisions are required for
the above. Besides, their opinion is line with the Hong Kong
tax opinions provided by Lau & Au Yeung Limited and
provided by PricewaterhouseCoopers, both of which dated 29
September 2014.
批准歸還本公司控股股東根據彌償契據存
置的部分存款的董事會決議案
本公司控股股東亦就本集團於2014年10
月16日（即本公司上市日期）或之前所賺
取的收入而須支付的稅項，向本集團作出
彌償（「彌償契據」，訂立日期為2014年9
月25日，詳見本公司的招股章程），惟已
於本公司及其附屬公司截至2014年3月31
日的經審核賬目中作出撥備的稅務負債
除外。尤其是，控股股東已向本集團存入
20,000,000港元的款項，純綷為支付本公
司上市日期前澳門或香港稅務部門因此
就有關機器租賃協議及機器代理協議的
任何申索以及所產生的成本。上述為數
20,000,000港元的款項直至所有有關上述
的申索（如有）於香港及澳門已完結及完全
和解及╱或已過訴訟時效後，方可發放及
歸還予控股股東。
根據於2017年6月13日發出自利安達怡富
(Reanda EFA)對澳門2013年及2014年稅
務狀況發出的最新稅務意見以及劉歐陽
（香港）會計師事務所有限公司對香港及
澳門2013年及2014年稅務狀況發出的稅
務意見，(a)澳門稅務部門已發出2013年及
2014年最終及決定性評稅及最終評稅通
知書，本集團已悉數繳付澳門2013年及
2014年評稅年度所需的稅項；而澳門2013
年及2014年評稅已完結、最終及獲繳付；
及(b)香港稅局至今並無就機器租賃協議
及機器代理協議項下交易及收入要求徵收
任何稅項，且彼等信納毋須就上述作出額
外稅項撥備。此外，彼等的意見與劉歐陽
（香港）會計師事務所有限公司及羅兵咸永
道會計師事務所日期均為2014年9月29日
發出的香港稅務意見一致。
58
ANNUAL REPORT 2017
SAM WOO CONSTRUCTION GROUP LIMITED
董事會報告
Directors’ Report
In June 2017, the directors (including all of the independent
non-executive directors) of the Company resolved to partially
return HK$17 million out of the deposit of HK$20 million
together with all the bank interests earned by the deposit to the
controlling shareholders in view of the updated tax positions
mentioned above and the estimate on maximum exposure
made by the tax advisers of the Company. Mr. Lau Chun Ming
and Ms. Leung Lai So, being the indemnifiers abstained from
voting in relation to the said resolution in the board meeting.
Notwithstanding the return of the said HK$20 million (whether
in part or in full) from the Group, the controlling shareholders
irrevocably confirmed that, all their obligations, save for deposit
a sum of HK$20 million to the Group, set out in the Deed of
Indemnity remain valid.
AUDITOR
The consolidated financial statements for the year ended 31
March 2017 have been audited by PricewaterhouseCoopers,
who will retire and, being eligible, offer themselves for re-
appointment at the forthcoming annual general meeting of the
Company.
On behalf of the Board
Mr. Lau Chun Ming
Chairman
Hong Kong, 23 June 2017
鑒於上述最近的稅務狀況及本公司稅務顧
問作出的上限風險估計，於2017年6月，
本公司董事（包括所有獨立非執行董事）議
決向控股股東歸還20,000,000港元存款中
的部分17,000,000港元連同該筆存款所賺
取的一切銀行存款利息。彌償人劉振明先
生及梁麗蘇女士已於董事會會議上就上述
決議案放棄投票。
儘 管 本 集 團 部 分 或 悉 數 歸 還 以 上
20,000,000港元，控股股東不可撤回地確
認彌償契據所載彼等的全部責任仍然有
效，惟給予本集團為數20,000,000港元的
存款除外。
核數師
截至2017年3月31日止年度的綜合財務報
表已獲羅兵咸永道會計師事務所審核，其
將於本公司應屆股東週年大會上任滿告退
並願意接受續聘。
代表董事會
劉振明先生
主席
香港，2017年6月23日
59
三和建築集團有限公司
二零一七年年報
獨立核數師報告
Independent Auditor’s Report
To the Shareholders of Sam Woo Construction Group Limited
(incorporated in Cayman Islands with limited liability)
OPINION
What we have audited
The conso l ida ted f i nanc ia l s ta tements o f Sam Woo
Construct ion Group L imi ted ( the “Company” ) and i ts
subsidiaries (the “Group”) set out on pages 70 to 163, which
comprise:
• the consolidated balance sheet as at 31 March 2017;
• the consolidated statement of comprehensive income for
the year then ended;
• the consolidated statement of changes in equity for the
year then ended;
• the consolidated statement of cash flows for the year
then ended; and
• the notes to the consolidated financial statements, which
include a summary of significant accounting policies.
Our opinion
In our opinion, the consolidated financial statements give
a true and fair view of the consolidated financial position
of the Group as at 31 March 2017, and of its consolidated
financial performance and its consolidated cash flows for the
year then ended in accordance with Hong Kong Financial
Reporting Standards (“HKFRSs”) issued by the Hong Kong
Institute of Certified Public Accountants (“HKICPA”) and have
been properly prepared in compliance with the disclosure
requirements of the Hong Kong Companies Ordinance.
致三和建築集團有限公司股東
（於開曼群島註冊成立的有限公司）
意見
我們已審計的內容
三和建築集團有限公司（以下簡稱「貴公
司」）及其附屬公司（以下統稱「貴集團」）
列載於第70至163頁的綜合財務報表，包
括：
• 於2017年3月31日的綜合資產負債
表；
• 截至該日止年度的綜合全面收益表；
• 截至該日止年度的綜合權益變動表；
• 截至該日止年度的綜合現金流量表；
及
• 綜合財務報表附註，包括重要會計
政策摘要。
我們的意見
我們認為，該等綜合財務報表已根據香港
會計師公會頒佈的《香港財務報告準則》真
實而中肯地反映了貴集團於2017年3月31
日的綜合財務狀況及其截至該日止年度的
綜合財務表現及綜合現金流量，並已遵照
香港《公司條例》的披露規定妥為擬備。
60
ANNUAL REPORT 2017
SAM WOO CONSTRUCTION GROUP LIMITED
獨立核數師報告
Independent Auditor’s Report
BASIS FOR OPINION
We conducted our audit in accordance with Hong Kong
Standards on Auditing (“HKSAs”) issued by the HKICPA. Our
responsibilities under those standards are further described in
the Auditor’s Responsibilities for the Audit of the Consolidated
Financial Statements section of our report.
We believe that the audit evidence we have obtained is
sufficient and appropriate to provide a basis for our opinion.
Independence
We are independent of the Group in accordance with the
HKICPA’s Code of Ethics for Professional Accountants (“the
Code”), and we have fulfilled our other ethical responsibilities in
accordance with the Code.
KEY AUDIT MATTERS
Key audit matters are those matters that, in our professional
judgment, were of most significance in our audit of the
consolidated financial statements of the current period. These
matters were addressed in the context of our audit of the
consolidated financial statements as a whole, and in forming
our opinion thereon, and we do not provide a separate opinion
on these matters.
意見的基礎
我們已根據香港會計師公會頒佈的《香港
審計準則》進行審計。我們在該等準則下
承擔的責任已在本報告「核數師就審計綜
合財務報表承擔的責任」部分中作進一步
闡述。
我們相信，我們所獲得的審計憑證能充足
及適當地為我們的審計意見提供基礎。
獨立性
根據香港會計師公會頒佈的《專業會計師
道德守則》（以下簡稱「守則」），我們獨立
於貴集團，並已履行守則中的其他專業道
德責任。
關鍵審計事項
關鍵審計事項是根據我們的專業判斷，認
為對本期綜合財務報表的審計最為重要的
事項。這些事項是在我們審計整體綜合財
務報表及出具意見時進行處理的。我們不
會對這些事項提供單獨的意見。
61
三和建築集團有限公司
二零一七年年報
獨立核數師報告
Independent Auditor’s Report
KEY AUDIT MATTERS (Continued)
Key audit matter identified in our audit is summarised as
follows:
• Accounting for construction contracts – estimated costs
and profit recognition
• Estimated useful lives and residual values of plant and
equipment
Key Audit Matter
關鍵審計事項
How our audit addressed the Key Audit Matter
我們的審計如何處理關鍵審計事項
Account ing for construct ion contracts –
estimated costs and profit recognition
Refer to note in the summary of significant
accounting policies, note 5 to the consolidated
financial statements.
請參閱重大會計政策概要附註及綜合財務報表附
註5。
For the year ended 31 March 2017, the Group’s
entire gross profit of HK$145,225,000 was derived
from construction works.
截至2 0 1 7年 3月 3 1日止年度，貴集團全部毛利
145,225,000港元乃來自建築工程。
The recognition of costs and profit on construction
contracts is based on the stage of completion of
contract activity by reference to work performed
at balance sheet date as a percentage of the total
contract value.
建築合約的成本及溢利乃經參考結算日所進行工程佔
總合約價值百分比根據合約活動的完工階段確認。
建築合約的會計處理－估計成本及溢利確認
Our procedures in re lat ion to management’s
account ing fo r percentage o f comple t ion o f
construct ion work, est imated costs and prof i t
recognition of construction contracts included:
就管理層對建築合約的建築工程完工百分比、估計成
本及溢利確認的會計處理，我們已採取的程序包括：
– We assessed and tested the key controls over
the budgetary process.
– 我們已評估及測試預算過程中的主要監控。
– We inspected material construction contracts
of the Group for agreed contract sum and
variations, if any.
– 我們已檢視貴集團的重大建築工程合約的協定合
約金額及變更（如有）。
– We checked the stage of completion to the
external architects’ and quantity surveyors’
certificates; and tested, on a sample basis,
the revenue recognition based on percentage
of completion and the calculations of contract
costs and gross profits.
－ 我們已核對完工階段與對外建築師及工料測量師
證明，並按照完工百分比對收益確認、合約成本
和毛利的計算進行抽樣測試。
關鍵審計事項（續）
我們在審計中識別的關鍵審計事項概述如
下：
• 建築合約的會計處理 – 估計成本及
溢利確認
• 機械及設備的估計可使用年期及剩
餘價值
62
ANNUAL REPORT 2017
SAM WOO CONSTRUCTION GROUP LIMITED
獨立核數師報告
Independent Auditor’s Report
KEY AUDIT MATTERS (Continued)
Key Audit Matter
關鍵審計事項
How our audit addressed the Key Audit Matter
我們的審計如何處理關鍵審計事項
Recognition of costs and profit on contracts requires
significant judgement and estimates of budgeted
gross profit as well as the expected recovery of costs
arising from additional work performed throughout
the contracts.
合約的成本及溢利確認需要對預測毛利及預期於整段
合約期間因進行額外工程而產生的成本能否收回進行
重大判斷及估計。
Costs and profit recognition requires significant time
and resources to audit due to the magnitude as well
as the judgement and estimates involved.
基於所涉及的金額龐大並且判斷及估計重大，因此成
本及溢利確認需要動用大量時間及資源進行審計。
– We selected, on a sample basis, contracts
to examine management’s budget of the
cost component, such as costs of materials,
subcontracting fees and labour costs, etc. We
compared the budgeted component cost to
supporting documents including but not limited
to invoices, price quotation and rate of labour
costs.
– 我們已抽樣選取合約，以審視管理層對材料成本
、分包費用及勞務成本等成本組成部分的預算。
我們將預算組成部分的成本與佐證文件互相比對
，當中包括但不限於發票、報價單及勞務成本價
格。
– For each selected contract, we compared by
cost component of the actual cost incurred up
to year end to the budgeted cost and obtained
explanation from management for any material
variation.
– 對於每份經選取的合約，我們已將各成本組成部
分截至年末發生的實際金額與預算金額互相比對
，並就任何重大差異向管理層取得解釋說明。
– We compared the historical actual gross profit
margin to those budgeted to assess the quality
of management budgetary process.
– 我們已比較過往實際毛利率與預算毛利率，以評
估管理預算過程的品質。
關鍵審計事項（續）
63
三和建築集團有限公司
二零一七年年報
獨立核數師報告
Independent Auditor’s Report
KEY AUDIT MATTERS (Continued)
Key Audit Matter
關鍵審計事項
How our audit addressed the Key Audit Matter
我們的審計如何處理關鍵審計事項
– We discussed with the Group’s quant i ty
surveyors and project managers about the
status of the projects, to identify any variations
o f cont racts and c la ims, and to obta in
explanations for fluctuations in margins and
changes in budget as well as the expected
recovery of variations. We also inspected the
correspondence with customers and sub-
contractors and the minutes of management’s
regular internal meetings, on a sample basis, for
corroboration of their explanations.
– 我們已與貴集團的工料測量師及項目經理討論項
目狀況，以識別有否合約變更及申索，並就溢利
率波動、預算變動及預期能否收回合約變更取得
解釋說明。我們亦已抽樣檢視與客戶及分包商之
間的通訊以及管理層內部會議的會議紀錄，以佐
證他們的說法。
– For pro jects wi th potent ia l d ispute wi th
customers, we discussed with the Group’s
external project advisers the basis in concluding
the minimum amount the Group is able to
realise from the projects. We inquired their basis
of conclusion and checked relevant evidence
including agreements and correspondence with
customers and sub-contractors.
– 對於可能與客戶出現爭議的項目，我們已自貴集
團的外聘法律顧問取得書面意見，討論貴集團可
從項目變現的最低金額的推斷基準。我們已查詢
他們的推斷基準，並核實相關證據，包括與客戶
及分包商之間的協議及通訊。
We found the judgement and estimates adopted
by management in determining the estimated costs
and profit recognition of construction contracts are
supported by available evidence.
就管理層在釐定建築合約的估計成本及溢利確認時所
應用的判斷及所採納的估計方面，我們並無發現任何
重大問題。
關鍵審計事項（續）
64
ANNUAL REPORT 2017
SAM WOO CONSTRUCTION GROUP LIMITED
獨立核數師報告
Independent Auditor’s Report
KEY AUDIT MATTERS (Continued)
Key Audit Matter
關鍵審計事項
How our audit addressed the Key Audit Matter
我們的審計如何處理關鍵審計事項
Estimated useful lives and residual values of
plant and equipment
Refer to note in the summary of significant
account ing po l ic ies , note 4 (a ) in the cr i t ica l
accounting estimates and judgements and note 13 to
the consolidated financial statements.
請參閱重大會計政策概要附註、綜合財務報表附註
4(a)重要會計估計及判斷以及附註13。
As at 31 March 2017, there was plant and equipment
of HK$633,527,000 million. For the year ended 31
March 2017, depreciation of HK$25,268,000 was
recognised.
於2017年3月31日，機械及設備為633,527,000港元。
截至2017年3月31日止年度，已確認折舊25,268,000
港元。
Management estimates useful lives of the plant and
equipment by reference to the industry practice,
expected usage of the assets, expected repair
and maintenance, the technical or commercial
obsolescence arising from changes or improvements
in the market. Residual values of the machinery
and equipment are determined based on prevailing
market values for equivalent aged assets taking into
account the condition of the relevant assets or the
value of scrap metal. Depreciation expense would be
significantly affected by the useful lives and residual
values of the plant and equipment as estimated by
management.
管理層乃參考行業慣例、資產預期用途、預期維
修及保養、因市場變化或改善導致的技術或商業
方面過時，估計機械及設備的可使用年期。機械及設
備的剩餘價值乃根據具同等賬齡資產的現行市值釐
定，並計及有關資產的狀況或廢鐵的價值。管理層所
估計機械及設備的可使用年期及剩餘價值將對折舊費
用有重大影響。
機械及設備的估計可使用年期及剩餘價值
Our procedures in re lat ion to management’s
estimated useful lives and residual values of plant and
equipment included:
就管理層對機械及設備的估計可使用年期及剩餘價
值，我們已採取的程序包括：
– We discussed with the management on trends
of prevai l ing market values for equivalent
aged assets for each category of plant and
equipment and the value of scrap metal at
year end. We performed research to verify the
management’s representation.
– 我們已與管理層討論各類機械及設備的同等賬齡
資產的現行市值走勢及廢鐵於年末的價值。我們
已進行研究以核實管理層的陳述。
– We sample checked market quotations and
recent scrap metal price to assess whether
the residual value of each type of plants and
machineries are within reasonable range.
– 我們已抽樣核對市場報價及廢鐵的近期價格以評
估各類機械及設備的剩餘價值屬合理範圍。
– We reviewed the sensitivity analysis performed
by management on f i nanc ia l impac t o f
fluctuation on residual values to depreciation.
– 我們已審閱管理層對剩餘價值波動與折舊的
財務影響進行的敏感性分析。
關鍵審計事項（續）
65
三和建築集團有限公司
二零一七年年報
獨立核數師報告
Independent Auditor’s Report
KEY AUDIT MATTERS (Continued)
Key Audit Matter
關鍵審計事項
How our audit addressed the Key Audit Matter
我們的審計如何處理關鍵審計事項
Due to the significant judgement and estimates
involved, specific audit focus was placed on this
area.
由於所涉及的判斷及估計重要，故對此方面的審計工
作給予特別重視。
– We assessed useful lives by benchmarking to
other industry players and performing research
on changes or improvements in the market
which could result in technical or commercial
obsolescence. Furthermore, we tested, on a
sample basis, usage and movement of the
assets among different construction projects
and expenditure of repair and maintenance.
– 我們以其他業界的基準及因市場變化或改善導致
的技術或商業方面過時進行研究來評估可使用年
期。另外，我們已抽樣測試不同建築項目的資產
用途及變動以及維修及保養的開支。
– We tested, on a sample bas is , whether
additions to plant and equipment have been
recorded in proper categories with relevant
usefu l l i ves and res idual va lues, for the
calculation of depreciation.
– 就計提折舊，我們已抽樣測試機械及設備的添置
是否記錄於合適的相關可使用年期及剩餘價值類
別。
We found t he j udgemen t and es t ima tes i n
determining the useful lives and residual values of
plant and equipment are supported by available
evidence.
我們認為，於釐定機械及設備的可使用年期及剩餘價
值時運用的判斷及估計是有足夠證據支持的。
關鍵審計事項（續）
66
ANNUAL REPORT 2017
SAM WOO CONSTRUCTION GROUP LIMITED
獨立核數師報告
Independent Auditor’s Report
OTHER INFORMATION
The directors of the Company are responsible for the other
information. The other information comprises al l of the
information included in the annual report other than the
consolidated financial statements and our auditor’s report
thereon.
Our opinion on the consolidated financial statements does not
cover the other information and we do not express any form of
assurance conclusion thereon.
In connection with our audit of the consolidated financial
statements, our responsibility is to read the other information
and, in doing so, consider whether the other information
is materially inconsistent with the consolidated financial
statements or our knowledge obtained in the audit or otherwise
appears to be materially misstated.
If, based on the work we have performed, we conclude that
there is a material misstatement of this other information, we
are required to report that fact. We have nothing to report in
this regard.
RESPONSIBILITIES OF DIRECTORS AND AUDIT
COMMITTEE FOR THE CONSOLIDATED FINANCIAL
STATEMENTS
The directors of the Company are responsible for the
preparation of the consolidated financial statements that give
a true and fair view in accordance with HKFRSs issued by the
HKICPA and the disclosure requirements of the Hong Kong
Companies Ordinance, and for such internal control as the
directors determine is necessary to enable the preparation of
consolidated financial statements that are free from material
misstatement, whether due to fraud or error.
In preparing the consolidated f inancial statements, the
directors are responsible for assessing the Group’s ability to
continue as a going concern, disclosing, as applicable, matters
related to going concern and using the going concern basis of
accounting unless the directors either intend to liquidate the
Group or to cease operations, or have no realistic alternative
but to do so.
The Audit Committee is responsible for overseeing the Group’s
financial reporting process.
其他信息
貴公司董事須對其他信息負責。其他信息
包括年報內的所有信息，但不包括綜合財
務報表及我們的核數師報告。
我們對綜合財務報表的意見並不涵蓋其他
信息，我們亦不對該等其他信息發表任何
形式的鑒證結論。
結合我們對綜合財務報表的審計，我們的
責任是閱讀其他信息，在此過程中，考慮
其他信息是否與綜合財務報表或我們在審
計過程中所了解的情況存在重大抵觸或者
似乎存在重大錯誤陳述的情況。
基於我們已執行的工作，如果我們認為其
他信息存在重大錯誤陳述，我們需要報告
該事實。在這方面，我們沒有任何報告。
董事及審核委員會就綜合財務報表須承
擔的責任
貴公司董事須負責根據香港會計師公會頒
佈的《香港財務報告準則》及香港《公司條
例》的披露規定擬備真實而中肯的綜合財
務報表，並對其認為為使綜合財務報表的
擬備不存在由於欺詐或錯誤而導致的重大
錯誤陳述所需的內部控制負責。
在擬備綜合財務報表時，董事負責評估貴
集團持續經營的能力，並在適用情況下披
露與持續經營有關的事項，以及使用持續
經營為會計基礎，除非董事有意將貴集團
清盤或停止經營，或別無其他實際的替代
方案。
審核委員會須負責監督貴集團的財務報告
過程。
67
三和建築集團有限公司
二零一七年年報
獨立核數師報告
Independent Auditor’s Report
AUDITOR’S RESPONSIBILITIES FOR THE AUDIT OF
THE CONSOLIDATED FINANCIAL STATEMENTS
Our objectives are to obtain reasonable assurance about
whether the consolidated financial statements as a whole are
free from material misstatement, whether due to fraud or error,
and to issue an auditor’s report that includes our opinion.
We report our opinion solely to you, as a body, and for no
other purpose. We do not assume responsibility towards or
accept liability to any other person for the contents of this
report. Reasonable assurance is a high level of assurance,
but is not a guarantee that an audit conducted in accordance
with HKSAs will always detect a material misstatement when
it exists. Misstatements can arise from fraud or error and are
considered material if, individually or in the aggregate, they
could reasonably be expected to influence the economic
decisions of users taken on the basis of these consolidated
financial statements.
As part of an audit in accordance with HKSAs, we exercise
professional judgment and maintain professional scepticism
throughout the audit. We also:
• Identify and assess the risks of material misstatement
of the consolidated financial statements, whether due
to fraud or error, design and perform audit procedures
responsive to those risks, and obtain audit evidence that
is sufficient and appropriate to provide a basis for our
opinion. The risk of not detecting a material misstatement
resulting from fraud is higher than for one resulting from
error, as fraud may involve collusion, forgery, intentional
omissions, misrepresentations, or the override of internal
control.
• Obtain an understanding of internal control relevant to
the audit in order to design audit procedures that are
appropriate in the circumstances, but not for the purpose
of expressing an opinion on the effectiveness of the
Group’s internal control.
核數師就審計綜合財務報表承擔的責任
我們的目標，是對綜合財務報表整體是否
不存在由於欺詐或錯誤而導致的重大錯誤
陳述取得合理保證，並出具包括我們意見
的核數師報告。我們僅向閣下（作為整體）
報告我們的意見，除此之外本報告別無其
他目的。我們不會就本報告的內容向任何
其他人士負上或承擔任何責任。合理保證
是高水平的保證，但不能保證按照《香港
審計準則》進行的審計，在某一重大錯誤
陳述存在時總能發現。錯誤陳述可以由欺
詐或錯誤引起，如果合理預期它們單獨或
滙總起來可能影響綜合財務報表使用者依
賴綜合財務報表所作出的經濟決定，則有
關的錯誤陳述可被視作重大。
在根據《香港審計準則》進行審計的過程
中，我們運用了專業判斷，保持了專業懷
疑態度。我們亦：
• 識別和評估由於欺詐或錯誤而導致
綜合財務報表存在重大錯誤陳述的
風險，設計及執行審計程序以應對
這些風險，以及獲取充足和適當的
審計憑證，作為我們意見的基礎。
由於欺詐可能涉及串謀、偽造、蓄
意遺漏、虛假陳述，或凌駕於內部
控制之上，因此未能發現因欺詐而
導致的重大錯誤陳述的風險高於未
能發現因錯誤而導致的重大錯誤陳
述的風險。
• 了解與審計相關的內部控制，以設
計適當的審計程序，但目的並非對
貴集團內部控制的有效性發表意見。
68
ANNUAL REPORT 2017
SAM WOO CONSTRUCTION GROUP LIMITED
獨立核數師報告
Independent Auditor’s Report
AUDITOR’S RESPONSIBILITIES FOR THE AUDIT
OF THE CONSOLIDATED FINANCIAL STATEMENTS
(Continued)
• Evaluate the appropriateness of accounting policies used
and the reasonableness of accounting estimates and
related disclosures made by the directors.
• Conclude on the appropriateness of the directors’ use
of the going concern basis of accounting and, based
on the audit evidence obtained, whether a material
uncertainty exists related to events or conditions that may
cast significant doubt on the Group’s ability to continue
as a going concern. If we conclude that a material
uncertainty exists, we are required to draw attention
in our auditor’s report to the related disclosures in the
consolidated financial statements or, if such disclosures
are inadequate, to modify our opinion. Our conclusions
are based on the audit evidence obtained up to the
date of our auditor’s report. However, future events or
conditions may cause the Group to cease to continue as
a going concern.
• Evaluate the overall presentation, structure and content
of the consolidated financial statements, including the
disclosures, and whether the consolidated financial
statements represent the underlying transactions and
events in a manner that achieves fair presentation.
核數師就審計綜合財務報表承擔的責任
（續）
• 評價董事所採用會計政策的恰當性
及作出會計估計和相關披露的合理
性。
• 對董事採用持續經營會計基礎的恰
當性作出結論。根據所獲取的審計
憑證，確定是否存在與事項或情況
有關的重大不確定性，從而可能導
致對貴集團的持續經營能力產生重
大疑慮。如果我們認為存在重大不
確定性，則有必要在核數師報告中
提請使用者注意綜合財務報表中的
相關披露。假若有關的披露不足，
則我們應當發表非無保留意見。我
們的結論是基於核數師報告日止所
取得的審計憑證。然而，未來事項
或情況可能導致貴集團不能持續經
營。
• 評價綜合財務報表的整體列報方
式、結構和內容，包括披露，以及
綜合財務報表是否中肯反映交易和
事項。
69
三和建築集團有限公司
二零一七年年報
獨立核數師報告
Independent Auditor’s Report
AUDITOR’S RESPONSIBILITIES FOR THE AUDIT
OF THE CONSOLIDATED FINANCIAL STATEMENTS
(Continued)
• Obtain sufficient appropriate audit evidence regarding
the financial information of the entities or business
activities within the Group to express an opinion on the
consolidated financial statements. We are responsible for
the direction, supervision and performance of the group
audit. We remain solely responsible for our audit opinion.
We communicate with the Audit Committee regarding, among
other matters, the planned scope and timing of the audit and
significant audit findings, including any significant deficiencies
in internal control that we identify during our audit.
We also provide the Audit Committee with a statement that
we have complied with relevant ethical requirements regarding
independence, and to communicate with them all relationships
and other matters that may reasonably be thought to bear on
our independence, and where applicable, related safeguards.
From the matters communicated with the Audit Committee,
we determine those matters that were of most significance
in the audit of the consolidated financial statements of the
current period and are therefore the key audit matters. We
describe these matters in our auditor’s report unless law or
regulation precludes public disclosure about the matter or
when, in extremely rare circumstances, we determine that a
matter should not be communicated in our report because
the adverse consequences of doing so would reasonably
be expected to outweigh the public interest benefits of such
communication.
The engagement partner on the audit result ing in this
independent auditor’s report is Chan Hin Gay, Gabriel.
PricewaterhouseCoopers
Certified Public Accountants
Hong Kong, 23 June 2017
核數師就審計綜合財務報表承擔的責任
（續）
• 就貴集團內實體或業務活動的財務
信息獲取充足、適當的審計憑證，
以便對綜合財務報表發表意見。我
們負責貴集團審計的方向、監督和
執行。我們為審計意見承擔全部責
任。
除其他事項外，我們與審核委員會溝通了
計劃的審計範圍、時間安排、重大審計發
現等，包括我們在審計中識別出內部控制
的任何重大缺陷。
我們還向審核委員會提交聲明，說明我們
已符合有關獨立性的相關專業道德要求，
並與他們溝通有可能合理地被認為會影響
我們獨立性的所有關係和其他事項，以及
在適用的情況下，相關的防範措施。
從與審核委員會溝通的事項中，我們確定
哪些事項對本期綜合財務報表的審計最為
重要，因而構成關鍵審計事項。我們在核
數師報告中描述這些事項，除非法律法規
不允許公開披露這些事項，或在極端罕見
的情況下，如果合理預期在我們報告中溝
通某事項造成的負面後果超過產生的公
眾利益，我們決定不應在報告中溝通該事
項。
出具本獨立核數師報告的審計項目合夥人
是陳顯基。
羅兵咸永道會計師事務所
執業會計師
香港，2017年6月23日
70
ANNUAL REPORT 2017
SAM WOO CONSTRUCTION GROUP LIMITED
綜合全面收益表
Consolidated Statement of Comprehensive Income
For the year ended 31st March 2017 截至2017年3月31日止年度
2017 2016
Note HK$’000 HK$’000
附註 千港元 千港元
Revenue 收入 5 817,682 1,061,482
Cost of sales 銷售成本 7 (672,457) (851,470)
Gross profit 毛利 145,225 210,012
Other (loss)/income, net 其他（虧損）╱
收益－淨額 6 (906) 1,010
Administrative expenses 行政開支 7 (45,451) (36,655)
Operating profit 經營溢利 98,868 174,367
Finance income 財務收入 8 2,677 2,816
Finance costs 財務費用 8 (10,330) (11,674)
Finance costs, net 財務費用－淨額 8 (7,653) (8,858)
Profit before income tax 除所得稅前溢利 91,215 165,509
Income tax expense 所得稅開支 9 (12,235) (12,632)
Profit and total comprehensive
income for the year
年度溢利及全面收入
總額 78,980 152,877
Profit and total comprehensive income
attributable to equity holders of the
Company
本公司權益持有人
應佔溢利及全面
收入總額 78,980 152,877
Note 2017 2016
附註 HK cents HK cents
Basic and diluted earnings per share 每股基本及攤薄盈利 11
The notes on pages 75 to 163 are an integral part of these
consolidated financial statements.
第75至163頁之附註為此等綜合財務報表之組
成部分。
71
三和建築集團有限公司
二零一七年年報
綜合資產負債表
Consolidated Balance Sheet
As at 31st March 2017 於2017年3月31日
2017 2016
Note HK$’000 HK$’000
附註 千港元 千港元
Assets 資產
Non-current assets 非流動資產
Plant and equipment 機械及設備 13 633,527 605,566
Deferred income tax assets 遞延所得稅資產 19 917 131
Available-for-sale financial assets 可供出售金融資產 14 19,750 –
Deposits and prepayments 按金及預付款項 15 765 2,617
654,959 608,314
Current assets 流動資產
Trade and retention receivables 應收貿易款項及保留金 15 157,450 295,954
Deposits, prepayments and other
receivables
按金、預付款項及
其他應收款項 15 6,226 592
Amounts due from customers for
contract work
應收客戶合約工程金額
16 18,614 28,562
Income tax recoverable 可收回所得稅 18 116
Restricted bank balances 受限制銀行結餘 17 20,864 20,559
Short-term bank deposit 短期銀行存款 17 – 17,797
Cash and cash equivalents
(excluding bank overdraft)
現金及現金等價物
（不包括銀行透支） 17 347,943 183,060
551,115 546,640
Total assets 資產總值 1,206,074 1,154,954
Equity 權益
Capital and reserves 資本及儲備
Share capital 股本 18(a) 4,200 4,200
Reserves 儲備 18(b) 692,031 650,851
Total equity 權益總額 696,231 655,051
The notes on pages 75 to 163 are an integral part of these
consolidated financial statements.
第75至163頁之附註為此等綜合財務報表之
組成部分。
72
ANNUAL REPORT 2017
SAM WOO CONSTRUCTION GROUP LIMITED
綜合資產負債表
Consolidated Balance Sheet
As at 31st March 2017 於2017年3月31日
2017 2016
Note HK$’000 HK$’000
附註 千港元 千港元
Liabilities 負債
Non-current liabilities 非流動負債
Long-term borrowings 長期借款 22 53,120 120,873
Deferred income tax liabilities 遞延所得稅負債 19 53,453 43,782
Amount due to a director 應付一名董事款項 21, 26(d) 20,864 20,559
127,437 185,214
Current liabilities 流動負債
Trade and retention payables 應付貿易款項及保留金 20 79,534 87,307
Accruals and other payables 應計款項及其他應付款項 20 13,969 16,298
Amounts due to customers for
contract work
應付客戶合約工程金額
16 82,707 28,672
Borrowings 借款 22 198,621 167,444
Income tax payable 應付所得稅 7,575 14,968
382,406 314,689
Total liabilities 負債總額 509,843 499,903
Total equity and liabilities 權益及負債總額 1,206,074 1,154,954
The financial statements on pages 70 to 163 were approved by
the Board of Directors on 23 June 2017 and were signed on its
behalf.
Lau Chun Ming Leung Lai So
劉振明 梁麗蘇
Director Director
董事 董事
The notes on pages 75 to 163 are an integral part of these
consolidated financial statements.
第70至163頁之財務報表已於2017年6月
23日獲董事會批准，並由下列人士代表簽
署。
第75至163頁之附註為此等綜合財務報表之
組成部分。
73
三和建築集團有限公司
二零一七年年報
綜合權益變動表
Consolidated Statement of Changes in Equity
For the year ended 31st March 2017 截至2017年3月31日止年度
Share
capital
Share
premium
Other
reserves
Retained
earnings Total
股本 股份溢價 其他儲備 保留盈利 總計
HK$’000 HK$’000 HK$’000 HK$’000 HK$’000
千港元 千港元 千港元 千港元 千港元
At 1 April 2015 於2015年4月1日 4,000 135,893 10,500 377,387 527,780
Comprehensive income 全面收入
Profit for the year 本年度溢利 – – – 152,877 152,877
Contribution by and
distribution to owners
擁有人的出資及
向其作出的分派
Issuance of placement shares
(note 18)
發行配售股份
（附註18） 200 58,194 – – 58,394
Final dividends relating to the year
ended 31 March 2015
有關截至2015年3月31日
止年度的末期股息 – – – (63,000) (63,000)
Interim dividend relating to the year
ended 31 March 2016 (note 10)
有關截至2016年3月31日
止年度的中期股息
（附註10） – – – (21,000) (21,000)
At 31 March 2016 於2016年3月31日 4,200 194,087 10,500 446,264 655,051
At 1 April 2016 於2016年4月1日 4,200 194,087 10,500 446,264 655,051
Comprehensive income 全面收入
Profit for the year 本年度溢利 – – – 78,980 78,980
Contribution by and
distribution to owners
擁有人的出資及
向其作出的分派
Final dividends relating to the year
ended 31 March 2016 (note 10)
有關截至2016年3月31日
止年度的末期股息
（附註10） – – – (29,400) (29,400)
Interim dividend relating to the year
ended 31 March 2017 (note 10)
有關截至2017年3月31日
止年度的中期股息
（附註10） – – – (8,400) (8,400)
At 31 March 2017 於2017年3月31日 4,200 194,087 10,500 487,444 696,231
The notes on pages 75 to 163 are an integral part of these
consolidated financial statements.
第75至163頁之附註為此等綜合財務報表之
組成部分。
74
ANNUAL REPORT 2017
SAM WOO CONSTRUCTION GROUP LIMITED
綜合現金流量表
Consolidated Statement of Cash Flows
For the year ended 31st March 2017 截至2017年3月31日止年度
2017 2016
Note HK$’000 HK$’000
附註 千港元 千港元
Cash flows from operating activities 來自經營活動的現金流量
Net cash generated from operations 經營活動所得現金淨額 25(a) 313,230 187,481
Interest paid 已付利息 (6,173) (7,153)
Interest received 已收利息 2,677 2,816
Interest element of finance lease payments 融資租賃付款的利息部分 8 (3,852) (4,087)
Restricted bank balances 受限制銀行結餘 17 (305) 17,022
Hong Kong profits tax paid 已付香港利得稅 (10,645) (5,922)
Net cash generated from
operating activities
經營活動所得現金淨額
294,932 190,157
Cash flows from investing activities 來自投資活動的現金流量
Acquisition of available for sales
investment
收購可供出售投資
14 (19,750) –
Purchase of plant and equipment 購買機械及設備 (53,454) (53,127)
Prepayment for purchase of plant
and equipment
購買機械及設備的預付款項
– (629)
Proceeds from sales of plant and
equipment
出售機械及設備的所得款項
25(b) 28 –
Decrease/(increase) in short-term
bank deposits
短期銀行存款減少╱
（增加） 17,797 (9,797)
Net cash used in investing activities 投資活動所用現金淨額 (55,379) (63,553)
Cash flows from financing activities 來自融資活動的現金流量
Capital element of finance lease
payments
融資租賃付款的資本部分
(60,868) (48,978)
Drawdown of long-term bank loans 提取長期銀行貸款 30,585 67,800
Repayment of long-term bank loans 償還長期銀行貸款 (107,857) (55,970)
Drawdown of short-term bank loans 提取短期銀行貸款 204,916 316,414
Repayment of short-term bank loans 償還短期銀行貸款 (103,643) (391,728)
Decrease in restricted bank balances 受限制銀行結餘減少 17 – 17,460
Proceeds from issuance of ordinary shares 發行普通股之所得款項 – 60,200
Share issuance costs 股份發行費用 – (1,806)
Dividend paid 已付股息 (37,800) (84,000)
Net cash used in financing activities 融資活動所用現金淨額 (74,667) (120,608)
Net increase in cash and
cash equivalents
現金及現金等價物增加淨額
164,886 5,996
Cash and cash equivalents at
beginning of the year
於年初的現金及現金等價物
183,057 177,061
Cash and cash equivalents
at end of the year
於年終的現金及現金等價物
347,943 183,057
Analysis of cash and cash equivalents 現金及現金等價物分析
Cash and cash equivalents 現金及現金等價物 17 347,943 183,060
Bank overdraft 銀行透支 22 – (3)
347,943 183,057
The notes on pages 75 to 163 are an integral part of these
consolidated financial statements.
第75至163頁之附註為此等綜合財務報表
之組成部分。
75
三和建築集團有限公司
二零一七年年報
綜合財務報表附註
Notes to the Consolidated Financial Statements
1 GENERAL INFORMATION
Sam Woo Construction Group Limited (the “Company”)
was incorporated in the Cayman Islands as an exempted
company with limited liability under the Companies Law,
Cap 22 (Law 3 of 1961, as consolidated and revised)
of the Cayman Islands. The address of the Company’s
registered office is Cricket Square, Hutchins Drive, .
Box 2681, Grand Cayman, KY1-1111, Cayman Islands.
The Company is an investment holding company and
its subsidiaries (together the “Group”) are principally
engaged in foundation works and ancillary services in
Hong Kong and Macau.
The shares of the Company are listed on the Main Board
of The Stock Exchange of Hong Kong Limited.
The consolidated financial statements are presented in
Hong Kong dollars (“HK$”) unless otherwise stated.
2 SUMMARY OF SIGNIFICANT ACCOUNTING
POLICIES
The pr inc ipa l account ing pol ic ies appl ied in the
preparation of these consolidated financial statements
are set out below. These policies have been consistently
applied to all the years presented, unless otherwise
stated.
Basis of preparation
The consol idated f inancial statements of the
Company have been prepared in accordance
with Hong Kong Financial Reporting Standards
(“HKFRS”) issued by the Hong Kong Institute
of Certified Public Accountants and have been
prepared under the historical cost convention.
1 一般資料
三和建築集團有限公司（「本公司」）
根據開曼群島法例第22章《公司法》
（1961年法例3，經綜合及修訂本）
在開曼群島註冊成立為獲豁免有限
公司。本公司的註冊辦事處地址位
於Cricket Square, Hutchins Drive,
. Box 2681, Grand Cayman,
KY1-1111, Cayman Islands。
本公司為投資控股公司，而其附屬
公司（統稱「本集團」）主要於香港及
澳門從事地基工程及附屬服務。
本公司之股份香港聯合交易所有限
公司主板上市。
除另有所指外，綜合財務報表以港
元（「港元」）呈列。
2 重大會計政策概要
編製此等綜合財務報表所採用的主
要會計政策載於下文。除另有指明
者外，該等政策於所有呈列年度一
直貫徹應用。
編製基準
本公司之綜合財務報表乃根據
香港會計師公會所頒佈之香港
財務報告準則（「香港財務報告
準則」）編製，並以歷史成本法
編製。
76
ANNUAL REPORT 2017
SAM WOO CONSTRUCTION GROUP LIMITED
綜合財務報表附註
Notes to the Consolidated Financial Statements
2 重大會計政策概要（續）
編製基準（續）
根據香港財務報告準則編製財
務報表須運用若干關鍵會計估
計。管理層於應用本集團會計
政策時亦須作出判斷。涉及較
多判斷或較複雜，或有關假設
及估計對綜合財務報表有重大
影響的範疇於附註4披露。
(a) 本集團採納的新訂及經修
訂準則
以下新準則及準則之修訂
於本集團開始於2016年4
月1日的財政年度強制使
用，並經本集團採用：
香港會計準則第1號
（修訂）
披露計劃
香港會計準則第16號
及香港會計準則
第38號（修訂）
折舊和攤銷的
可接受方法
的澄清
香港會計準則第16號
及香港會計準則
第41號（修訂）
生產性植物
香港會計準則第27號
（修訂）
獨立財務報表的
權益法
香港財務報告準則
第10號、香港財務
報告準則第12號及
香港會計準則
第28號（修訂）
投資實體：應用
綜合入賬之
例外情況
香港財務報告準則
第11號（修訂）
收購共同經營
權益的會計法
香港財務報告準則
第14號
監管遞延賬目
香港財務報告準則
（修訂）
2012年至2014年
週期的年度
改進
採納該等新準則及準則之
修訂對本集團綜合財務報
表的業績及財務狀況不會
有重大影響。
2 SUMMARY OF SIGNIFICANT ACCOUNTING
POLICIES (Continued)
Basis of preparation (Continued)
The preparation of the financial statements in
conformity with HKFRSs requires the use of
certa in cr i t ical account ing est imates. I t a lso
requires management to exercise its judgement in
the process of applying the Group’s accounting
policies. The areas involving a higher degree
of judgement or complexity, or areas where
assumptions and estimates are significant to the
consolidated financial statements, are disclosed in
note 4.
(a) New and amended standards adopted by the
Group
The following new standard and amendments
to standards are mandatory for the Group’s
financial year beginning 1 April 2016 and have
been adopted by the Group:
HKAS 1 (Amendment) Disclosure initiative
HKAS 16 and HKAS 38
(Amendments)
Clarification of Acceptable Methods
of Depreciation and Amortisation
HKAS 16 and HKAS 41
(Amendments)
Agriculture: Bearer Plants
HKAS 27 (Amendment) Equity Method in Separate
Financial Statements
HKFRS 10, HKFRS 12 and
HKAS 28 (Amendment)
Investment Entities: Applying the
Consolidation Exception
HKFRS 11 (Amendment) Accounting for Acquisitions of Interest
in Joint Operations
HKFRS 14 Regulatory Deferral Accounts
HKFRSs (Amendment) Annual Improvements
2012-2014 Cycle
The adoption of these new standard and
amendments to standards does not have any
significant impact to the results and financial
position of the Group’s consolidated financial
statements.
77
三和建築集團有限公司
二零一七年年報
綜合財務報表附註
Notes to the Consolidated Financial Statements
2 重大會計政策概要（續）
編製基準（續）
(b) 尚未採納的新訂及經修訂
準則
以下新訂準則及修訂已頒
佈，但於2016年4月1日
或之後開始的財政年度尚
未生效，以及並未提早應
用：
香港會計準則第7號
（修訂）
現金流量表－
披露(1)
香港會計準則第
12號（修訂）
所得稅－就未變
現虧損確認遞
延稅項資產(1)
香港財務報告準則
第2號（修訂）
以股份支付交易
之分類及
計量(2)
香港財務報告準則
第9號
金融工具(2)
香港財務報告準則
第10號及香港會計
準則第28號（修訂）
投資者與其聯營
企業及合營
企業之間的
資產出售或
注資(3)
香港財務報告準則
第15號
來自客戶合約的
收入(2)
香港財務報告準則
第15號（修訂）
香港財務報告
準則第15號之
分類(2)
香港財務報告準則
第16號
租賃(4)
(1) 於2017年1月1日開
始的年度期間對本集
團有效。
(2) 於2018年1月1日開
始的年度期間對本集
團有效。
(3) 有待釐定。
(4) 於2019年1月1日開
始的年度期間對本集
團有效。
管理層正在評估該等新訂
及經修訂準則、修訂本或
詮釋的影響。除香港財務
報告準則第9號、香港財
務報告準則第15號及香
港財務報告準則第16號
可能對本集團之綜合財務
報表有影響外，本集團董
事並不預期採用其他新訂
及經修訂香港財務報告準
則將對本集團之業績及財
務狀況有重大影響。
2 SUMMARY OF SIGNIFICANT ACCOUNTING
POLICIES (Continued)
Basis of preparation (Continued)
(b) New and amended standards not yet adopted
The following new standards and amendments
have been issued but are not effective for the
financial year beginning on or after 1 April
2016 and have not been early adopted:
HKAS 7 (Amendment) Statement of Cash Flows –
Disclosure (1)
HKAS 12 (Amendment) Income Taxes – Recognition
of Deferred Tax Assets for
Unrealised Losses (1)
HKFRS 2 (Amendment) Classification and Measurement
of Share-based Payment
Transactions (2)
HKFRS 9 Financial Instruments (2)
HKFRS 10 and HKAS 28
(Amendments)
Sale or Contribution of Assets
between an Investor and its
Associate and Joint Venture (3)
HKFRS 15 Revenue from Contracts with
Customers (2)
HKFRS 15 (Amendment) Classifications to HKFRS 15 (2)
HKFRS 16 Leases (4)
(1) Effective for the Group for annual period
beginning on 1 January 2017.
(2) Effective for the Group for annual period
beginning on 1 January 2018.
(3) To be determined.
(4) Effective for the Group for annual periods
beginning on 1 January 2019.
Management is in the process of making
an assessment on the impact of these new
and rev ised standards, amendments or
interpretations. Other than HKFRS 9, HKFRS
15 and HKFRS 16 which may have an
impact on the Group’s consolidated financial
statements, the directors of the Group do not
anticipate that the application of the other new
and amendments to HKFRS will have material
impact on the results and financial position of
the Group.
78
ANNUAL REPORT 2017
SAM WOO CONSTRUCTION GROUP LIMITED
綜合財務報表附註
Notes to the Consolidated Financial Statements
2 重大會計政策概要（續）
編製基準（續）
(b) 尚未採納的新訂及經修訂
準則（續）
香港財務報告準則第9號
金融工具
此項新訂準則針對金融資
產和金融負債之分類、計
量和終止確認，並介紹對
沖會計之新規定和金融資
產之新減值模型。
雖然本集團尚未對金融資
產之分類和計量進行詳細
評估，但目前被分類為可
供出售金融資產可選擇按
公平值透過其他全面收入
（「按公平值透過其他全面
收入」）入賬，因此該等
資產之入賬並無改變。
因此，本集團不預期新指
引會對其金融資產之分類
和計量有重大影響。
由於新規定僅影響被指定
為按公平值透過損益入賬
之金融負債之會計法，而
本集團並無任何該等負
債，此將不會對本集團金
融負債之會計法有任何影
響。終止確認規則引自香
港會計準則第39號「金融
工具：確認及計量」，沒
有任何變動。
2 SUMMARY OF SIGNIFICANT ACCOUNTING
POLICIES (Continued)
Basis of preparation (Continued)
(b) New and amended standards not yet adopted
(Continued)
HKFRS 9 Financial Instruments
The new standard addresses the classification,
measurement and derecognition of financial
assets and financial l iabil it ies, introduces
new rules for hedge accounting and a new
impairment model for financial assets.
While the Group has yet to undertake a
detailed assessment of the classification and
measurement of financial assets currently
classified as available-for-sale financial assets
would appear to satisfy the conditions for
classification as at fair value through other
comprehensive income (“FVOCI”) and hence
there will be no change to the accounting for
these assets.
Accordingly, the Group does not expect the
new guidance to have a significant impact
on the classification and measurement of its
financial assets.
There wil l be no impact on the Group’s
accounting for f inancial l iabi l it ies, as the
new requirements only affect the accounting
for financial l iabil it ies that are designated
at fair value through profit or loss and the
Group does not have any such liabilities. The
derecognition rules have been transferred from
HKAS 39 Financial Instruments: Recognition
and Measu rement and have no t been
changed.
79
三和建築集團有限公司
二零一七年年報
綜合財務報表附註
Notes to the Consolidated Financial Statements
2 重大會計政策概要（續）
編製基準（續）
(b) 尚未採納的新訂及經修訂
準則（續）
香港財務報告準則第9號
金融工具（續）
新訂準則亦增加披露規定
和呈列之改變。預期將改
變本集團有關其金融工具
之披露性質和範圍，尤其
是在新訂準則採納之年度
內。
香港財務報告準則第9號
必須在2018年1月1日後
之後開始之財政年度起應
用。根據香港財務報告準
則第9號之過渡性條款，
只容許就2015年2月1日
前開始之年度報告期分階
段提早採納。在該日後，
新規則必須全數採納。本
集團不擬在強制性日期前
採納香港財務報告準則第
9號。
2 SUMMARY OF SIGNIFICANT ACCOUNTING
POLICIES (Continued)
Basis of preparation (Continued)
(b) New and amended standards not yet adopted
(Continued)
HKFRS 9 Financial Instruments (Continued)
The new standard also introduces expanded
disclosure requirements and changes in
presentation. These are expected to change
the na tu re and ex ten t o f the Group’s
disclosures about its financial instruments
particularly in the year of the adoption of the
new standard.
HKFRS 9 must be applied for financial years
commencing on or after 1 January 2018.
Based on the transitional provisions in the
completed HKFRS 9, early adoption in phases
was only permitted for annual report ing
periods beginning before 1 February 2015.
After that date, the new rules must be adopted
in their entirety. The Group does not intend to
adopt HKFRS 9 before its mandatory date.
80
ANNUAL REPORT 2017
SAM WOO CONSTRUCTION GROUP LIMITED
綜合財務報表附註
Notes to the Consolidated Financial Statements
2 重大會計政策概要（續）
編製基準（續）
(b) 尚未採納的新訂及經修訂
準則（續）
香港財務報告準則第15
號「來自客戶合約的收
入」
香港會計師公會頒佈收
入確認之新訂準則。此將
取代香港會計準則第18
號（涵蓋出售貨品和提供
服務之合約）和香港會計
準則第11號（涵蓋建築合
約）。新訂準則之原則為
收入於貨品或服務之控制
權轉移至客戶時確認。此
準則容許全面追溯採納或
經修改追溯方式採納。
管理層正在評估應用新準
則對本集團財務報表之影
響，並已識別服務收入為
可能會受影響之方面。
• 應用香港財務報告
準則第15號可能引
致獨立履約責任之
識別且其可能影響
收入確認之時間。
2 SUMMARY OF SIGNIFICANT ACCOUNTING
POLICIES (Continued)
Basis of preparation (Continued)
(b) New and amended standards not yet adopted
(Continued)
HKFRS 15 Revenue from Contracts with
Customers
The HKICPA has issued a new standard for
the recognition of revenue. This will replace
HKAS 18 which covers contracts for goods
and services and HKAS 11 which covers
construction contracts. The new standard
is based on the principle that revenue is
recognised when control of a good or service
transfers to a customer. The standard permits
either a ful l retrospect ive or a modif ied
retrospective approach for the adoption.
Management is currently assessing the effects
of applying the new standard on the Group’s
financial statements and has identified service
revenue to be the area that is likely to be
affected:
• The appl icat ion of HKFRS 15 may
result in the identification of separate
performance obligations which could
affect the timing of the recognition of
revenue.
81
三和建築集團有限公司
二零一七年年報
綜合財務報表附註
Notes to the Consolidated Financial Statements
2 重大會計政策概要（續）
編製基準（續）
(b) 尚未採納的新訂及經修訂
準則（續）
香港財務報告準則第15
號「來自客戶合約的收
入」（續）
香港財務報告準則第15
號於2018年1月1日或之
後開始之財政年度強制施
行。於此階段，本集團不
擬於其生效日期前採納該
準則。
香港財務報告準則第16
號「租賃」
香港財務報告準則第16
號將引致絕大部分租賃於
綜合資產負債表確認，乃
因經營與融資租賃間之區
分被刪除。根據新準則，
資產（使用租賃項目之權
利）及支付租金之金融負
債被確認。唯一之例外情
況是短期及低價值租賃。
出租人入賬將無重大變
化。
2 SUMMARY OF SIGNIFICANT ACCOUNTING
POLICIES (Continued)
Basis of preparation (Continued)
(b) New and amended standards not yet adopted
(Continued)
HKFRS 15 Revenue from Contracts with
Customers (Continued)
HKFRS 15 is mandatory for financial years
commencing on or after 1 January 2018. At
this stage, the Group does not intend to adopt
the standard before its effective date.
HKFRS 16 Leases
HKFRS 16 will result in almost all leases
being recognised on the consolidated balance
sheet, as the distinction between operating
and finance leases is removed. Under the new
standard, an asset (the right to use the leased
item) and a financial liability to pay rentals are
recognised. The only exceptions are short-
term and low-value leases.
The accounting for lessors will not significantly
change.
82
ANNUAL REPORT 2017
SAM WOO CONSTRUCTION GROUP LIMITED
綜合財務報表附註
Notes to the Consolidated Financial Statements
2 重大會計政策概要（續）
編製基準（續）
(b) 尚未採納的新訂及經修訂
準則（續）
香港財務報告準則第16
號「租賃」（續）
該 準 則 將 主 要 影 響 本
集團經營租賃之入賬。
於報告日期，本集團擁
有不可撤銷經營租賃承
擔8,737,000港元（附註
23(b)）。董事並不預期因
採納香港財務報告準則第
16號會對本集團純利有
任何重大影響。
若干承擔可能因短期及低
價值租賃而屬例外情況，
及若干承擔可能與不符合
租賃條件（按香港財務報
告準則第16號）之安排有
關。
新準則於2019年1月1日
或之後開始之財政年度強
制施行。於此階段，本集
團不擬於其生效日期前採
納該準則。
2 SUMMARY OF SIGNIFICANT ACCOUNTING
POLICIES (Continued)
Basis of preparation (Continued)
(b) New and amended standards not yet adopted
(Continued)
HKFRS 16 Leases (Continued)
The s tanda rd w i l l a f f ec t p r imar i l y t he
accounting for Group’s operating leases. As
at the reporting date, the Group has non-
cancellable operating lease commitments of
HK$8,737,000, see note 23(b). Directors do
not foresee any material impact on the net
profit of the Group as a result of adoption of
HKFRS16.
Some of the commitments may be covered
by the exception for short-term and low value
leases and some commitments may relate to
arrangements that will not qualify as leases
under HKFRS 16.
The new standard is mandatory for financial
years commencing on or after 1 January 2019.
At this stage, the Group does not intend to
adopt the standard before its effective date.
83
三和建築集團有限公司
二零一七年年報
綜合財務報表附註
Notes to the Consolidated Financial Statements
2 重大會計政策概要（續）
附屬公司
綜合入賬
附屬公司為本集團控制的
實體（包括結構實體）。
倘本集團須承擔或享有參
與實體可變回報的風險及
權利，且有能力透過其對
實體之權力影響該等回報
時，則本集團對該實體擁
有控制權。附屬公司自控
制權轉入本集團之日起綜
合入賬，自停止控制之日
起取消綜合入賬。
本集團應用會計收購法將
業務綜合入賬。就收購附
屬公司轉讓的代價為本集
團所轉讓資產、所產生負
債及所發行股權的公平
值。所轉讓代價包括或然
代價安排所產生的任何資
產或負債的公平值。業務
合併過程中所收購的可識
別資產以及承擔的負債及
或然負債最初按收購日期
的公平值計量。
2 SUMMARY OF SIGNIFICANT ACCOUNTING
POLICIES (Continued)
Subsidiaries
Consolidation
A subsidiary is an entity (including a structured
entity) over which the Group has control. The
Group controls an entity when the Group
is exposed to, or has rights to, variable
returns from its involvement with the entity
and has the ability to affect those returns
through its power over the entity. Subsidiaries
are consolidated from the date on which
control is transferred to the Group. They are
deconsolidated from the date that control
ceases.
The Group applies the acquisition method
to account for business combinations. The
consideration transferred for the acquisition
of a subsidiary is the fair values of the assets
transferred, the liabilities incurred to the former
owners of the acquiree and the equity interests
issued by the Group. The considerat ion
transferred includes the fair value of any
asset or liability resulting from a contingent
cons iderat ion ar rangement . Ident i f iab le
assets acquired and liabilities and contingent
liabilities assumed in a business combination
are measured initially at their fair values at the
acquisition date.
84
ANNUAL REPORT 2017
SAM WOO CONSTRUCTION GROUP LIMITED
綜合財務報表附註
Notes to the Consolidated Financial Statements
2 重大會計政策概要（續）
附屬公司（續）
綜合入賬（續）
本集團對每宗收購確認於
被收購方的任何非控股權
益。屬現時擁有之權益且
於清盤時讓持有人有權按
比例分佔實體淨資產之非
控股權益，可初步按公平
值或現時擁有之權益應佔
被收購方可識別資產淨值
的已確認金額比例計量。
非控股權益的所有其他部
分乃按其收購日期公平值
計量，除非香港財務報告
準則規定另一計量基準。
與收購有關的費用於產生
時支銷。
所轉讓代價、被收購方的
任何非控股權益金額、以
及被收購方之前任何權益
在收購日期的公平值超出
所收購可識別淨資產值公
平值的差額記錄為商譽。
就廉價購買而言，倘計量
所得出的所轉讓代價、已
確認非控股權益及先前持
有的權益總額低於所收購
附屬公司淨資產值的公平
值，則該差額直接於綜合
全面收益表內確認。
2 SUMMARY OF SIGNIFICANT ACCOUNTING
POLICIES (Continued)
Subsidiaries (Continued)
Consolidation (Continued)
The Group recognises any non-controlling
interest in the acquiree on an acquisition-
b y - a c q u i s i t i o n b a s i s . N o n - c o n t r o l l i n g
interests in the acquiree that are present
ownership interests and entitle their holders
to a proport ionate share of the ent i ty’s
net assets in the event of liquidation are
measured at either fair value or the present
ownership interests’ proportionate share in
the recognised amounts of the acquiree’s
identifiable net assets. All other components
of non-controlling interests are measured at
their acquisition date fair value, unless another
measurement basis is required by HKFRS.
Acquisition-related costs are expensed as
incurred.
The excess of the consideration transferred,
the amount of any non-controlling interest in
the acquiree and the acquisition-date fair value
of any previous equity interest in the acquiree
over the fair value of the identifiable net assets
acquired is recorded as goodwill. If the total
of consideration transferred, non-controlling
interest recognised and previously held
interest measured is less than the fair value
of the net assets of the subsidiary acquired in
the case of a bargain purchase, the difference
is recognised directly in the consolidated
statement of comprehensive income.
85
三和建築集團有限公司
二零一七年年報
綜合財務報表附註
Notes to the Consolidated Financial Statements
2 重大會計政策概要（續）
附屬公司（續）
綜合入賬（續）
集團內公司間交易、交易
的結餘及未變現利得均予
以對銷。未變現虧損亦予
以對銷。有必要時，附屬
公司所報告的金額已作出
調整，以與本集團的會計
政策一致。
獨立財務報表
於附屬公司之投資乃按成
本減減值入賬。成本包括
投資直接應佔成本。附屬
公司之業績乃由本公司按
已收及應收股息基準入
賬。
倘股息超過附屬公司於
宣派股息期間之全面收
入總額或倘於獨立財務報
表內投資之賬面值超過被
投資方之資產淨值（包括
商譽）於綜合財務報表內
之賬面值，則於自該等投
資收取股息時，須對於附
屬公司之投資進行減值測
試。
2 SUMMARY OF SIGNIFICANT ACCOUNTING
POLICIES (Continued)
Subsidiaries (Continued)
Consolidation (Continued)
In t ra-group t ransact ions, ba lances and
unrealised gains on transactions between
group companies are eliminated. Unrealised
losses are also eliminated. When necessary,
amounts reported by subs id iar ies have
been adjusted to confirm with the Group’s
accounting policies.
Separate financial statements
Investments in subsidiaries are accounted for
at cost less impairment. Cost includes direct
attributable costs of investment. The results
of subsidiaries are accounted for by the
Company on the basis of dividend received
and receivable.
Impairment testing of the investments in
subs id iar ies is requ i red upon rece iv ing
a dividend from these investments if the
dividend exceeds the total comprehensive
income of the subsidiary in the period the
dividend is declared or if the carrying amount
of the investment in the separate financial
statements exceeds the carrying amount in
the consolidated financial statements of the
investee’s net assets including goodwill.
86
ANNUAL REPORT 2017
SAM WOO CONSTRUCTION GROUP LIMITED
綜合財務報表附註
Notes to the Consolidated Financial Statements
2 重大會計政策概要（續）
分部報告
經營分部的呈報方式與向主要
經營決策者提供內部報告的方
式一致。作出策略性決定的執
行董事為主要經營決策者，負
責分配資源及評估經營分部表
現。
外幣匯兌
(a) 功能及呈列貨幣
本集團各實體財務報表內
所包含項目，均以該實體
經營所在主要經濟環境
的貨幣（「功能貨幣」）計
量。綜合財務報表以港元
呈列，港元為本公司的功
能貨幣及本集團的呈列貨
幣。
(b) 交易及結餘
外幣交易均按交易當日適
用的匯率換算為功能貨
幣。上述交易結算以及以
外幣計值的貨幣資產及負
債按年末匯率換算產生的
外匯損益均於綜合全面收
益表內確認。
2 SUMMARY OF SIGNIFICANT ACCOUNTING
POLICIES (Continued)
Segment reporting
Operating segments are reported in a manner
consistent with the internal reporting provided
to the chief operating decision-maker. The chief
operating decision-maker, who is responsible for
allocating resources and assessing performance of
the operating segments, has been identified as the
executive directors that makes strategic decisions.
Foreign currency translation
(a) Functional and presentation currency
Items included in the financial statements of
each of the Group’s entities are measured
using the currency of the primary economic
environment in which the entity operates
(the “functional currency”). The consolidated
financial statements are presented in HK$,
which is the Company’s functional and the
Group’s presentation currency.
(b) Transactions and balances
Foreign currency transactions are translated
in to the funct iona l cur rency us ing the
exchange rates prevailing at the dates of the
transactions. Foreign exchange gains and
losses resulting from the settlement of such
transactions and from the translation at year-
end exchange rates of monetary assets and
liabilities denominated in foreign currencies are
recognised in the consolidated statement of
comprehensive income.
87
三和建築集團有限公司
二零一七年年報
綜合財務報表附註
Notes to the Consolidated Financial Statements
2 重大會計政策概要（續）
外幣匯兌（續）
(c) 集團公司
本集團旗下功能貨幣與呈
列貨幣不同的所有實體
（有關實體並無具有惡性
通貨膨脹經濟的貨幣）的
業績及財務狀況，均按以
下方法換算為呈列貨幣：
－ 每份呈列的資產負
債表的資產及負債
均以資產負債表結
算日的收市匯率換
算；
－ 每份全面收益表的
收入及開支均按平
均匯率換算（除非
此平均數並非合理
接近交易日適用匯
率之累積影響，於
此情況下，收入及
開支按交易日期之
匯率換算）；及
－ 所有因此而產生的
匯兌差額於其他全
面收入內確認。
機械及設備
機械及設備按歷史成本減累計
折舊與累計減值列賬。歷史成
本包括收購資產直接應佔的開
支。
2 SUMMARY OF SIGNIFICANT ACCOUNTING
POLICIES (Continued)
Foreign currency translation (Continued)
(c) Group companies
The results and f inancial posit ion of a l l
the group entities (none of which has the
currency of hyper-inflationary economy) that
have a functional currency different from the
presentation currency are translated into the
presentation currency as follows:
– assets and liabilities for each balance
sheet presented are translated at the
closing exchange rate at the date of that
balance sheet;
– i n c o m e a n d e x p e n s e s f o r e a c h
statement of comprehensive income are
translated at average exchange rates
(unless this average is not a reasonable
approximation of cumulative effect of the
rates prevailing on the transaction dates,
in which case income and expenses are
translated at the rate on the dates of the
transactions); and
– all resulting exchange differences are
recognised as in other comprehensive
income.
Plant and equipment
Plant and equipment are stated at historical cost
less accumulated depreciation and accumulated
impairment. Historical cost includes expenditure
that is directly attributable to the acquisition of the
assets.
88
ANNUAL REPORT 2017
SAM WOO CONSTRUCTION GROUP LIMITED
綜合財務報表附註
Notes to the Consolidated Financial Statements
2 重大會計政策概要（續）
機械及設備（續）
當與資產有關之未來經濟利益
可能流入本集團，以及資產成
本能可靠計量時，其後成本方
會計入資產的賬面值或確認為
獨立資產（如適用）。重置部分
的賬面值同時取消確認。所有
其他維修及保養費於產生當期
在綜合全面收益表支銷。
自置及租賃機械及設備以直線
法按其估計可使用年期將其成
本值分配至其剩餘價值計算折
舊。估計可使用年期如下：
機械及設備 10至15年
傢具及裝置 5年
汽車 5年
資產的剩餘價值及可使用年期
於各報告期末檢討及調整（如
適宜）。
倘資產之賬面值超過其估計可
收回金額，則該資產之賬面值
即時撇減至其可收回金額（附
註）。
出售所產生利得或虧損通過所
得款項與賬面值的比較釐定，
並於綜合全面收益表內確認。
2 SUMMARY OF SIGNIFICANT ACCOUNTING
POLICIES (Continued)
Plant and equipment (Continued)
Subsequent costs are included in the assets’
carrying amount or recognised as a separate asset,
as appropriate, only when it is probable that future
economic benefits associated with the asset will
flow to the Group and the cost of the asset can
be measured reliably. The carrying amount of the
replaced part is derecognised. All other repairs
and maintenance are expensed in the consolidated
statement of comprehensive income during the
financial period in which they are incurred.
Depreciation of both owned and leased plant
and equipment is calculated using the straight-
line method to allocate their costs to their residual
values over the estimated useful lives, as follows:
Machinery and equipment 10-15 years
Furniture and fixtures 5 years
Motor vehicles 5 years
The assets’ residual values and useful lives are
reviewed, and adjusted if appropriate, at the end of
each reporting period.
An asset’s carry ing amount is wr i t ten down
immediately to its recoverable amount of the asset’s
carrying amount is greater than its estimated
recoverable amount (note ).
Gains or losses on disposals are determined by
comparing proceeds with carrying amount and
are recognised in the consolidated statement of
comprehensive income.
89
三和建築集團有限公司
二零一七年年報
綜合財務報表附註
Notes to the Consolidated Financial Statements
2 重大會計政策概要（續）
非金融資產的減值
當有事件出現或情況改變顯示
賬面值可能無法收回時，需攤
薄之資產會就減值進行檢討。
減值虧損按資產之賬面值超出
其可收回金額的差額確認。可
收回金額為資產的公平值減銷
售成本或使用價值兩者中的較
高者。於評估減值時，資產按
可單獨分辨的最小現金流量產
生單位（現金產生單位）予以分
類。倘商譽以外之非金融資產
出現減值，則於各報告日期檢
討是否有減值可予撥回。
金融資產
分類
本集團將其金融資產分類
以下類別：貸款及應收款
項以及可供出售。分類視
乎購入金融資產的目的而
定。管理層在初步確認時
釐定金融資產的分類。
2 SUMMARY OF SIGNIFICANT ACCOUNTING
POLICIES (Continued)
Impairment of non-financial assets
Assets that are subject to amortisation are reviewed
for impairment whenever events or changes in
circumstances indicate that the carrying amount
may not be recoverable. An impairment loss is
recognised for the amount by which the asset’s
carrying amount exceeds its recoverable amount.
The recoverable amount is the higher of an asset’s
fair value less costs of disposal and value in use.
For the purposes of assessing impairment, assets
are grouped at the lowest levels for which there are
separately identifiable cash flows (cash-generating
units). Non-financial assets other than goodwill that
suffered an impairment are reviewed for possible
reversal of the impairment at each reporting date.
Financial assets
Classification
The Group classifies its financial assets in the
following categories: loans and receivables,
and avai lable for sale. The classif ication
depends on the purpose for which the
financial assets were acquired. Management
determines the classification of its financial
assets at initial recognition.
90
ANNUAL REPORT 2017
SAM WOO CONSTRUCTION GROUP LIMITED
綜合財務報表附註
Notes to the Consolidated Financial Statements
2 重大會計政策概要（續）
金融資產（續）
分類
(a) 貸款及應收款項
貸款及應收款項為
有固定或可釐定付
款但無活躍市場報
價的非衍生金融資
產。此等項目計入
流動資產內，惟報
告 期 結 束 後 超 過
1 2個 月 償 付 或 預
計將予償付的金額
除外。其乃分類為
非流動資產。本集
團 之 貸 款 及 應 收
款 項 包 括 於 綜 合
資產負債表之「應
收貿易款項及保留
金」、「按金及其他
應 收 款 項」（附 註
）、「受限制銀
行結餘」、「短期銀
行存款」及「現金及
現金等價物」（附註
）。
(b) 可供出售金融資產
可供出售金融資產
為被指定作此類別
或並無分類為任何
其他類別之非衍生
工具。除非投資到
期或管理層有意在
報告期末後十二個
月內出售該投資，
否則此等資產列在
非流動資產內。
2 SUMMARY OF SIGNIFICANT ACCOUNTING
POLICIES (Continued)
Financial assets (Continued)
Classification (Continued)
(a) Loans and receivables
L o a n s a n d r e c e i v a b l e s a r e n o n -
derivative financial assets with fixed or
determinable payments that are not
quoted in an active market. They are
included in current assets, except for the
amounts that are settled or expected to
be settled more than 12 months after
the end of the reporting period. These
are classified as non-current assets. The
Group’s loans and receivables comprise
“ t rade and re ten t ion rece ivab les” ,
“deposits and other receivables” (note
), “restricted bank balances”, “short-
term bank deposits” and “cash and
cash equivalents” (noted ) in the
consolidated balance sheet.
(b) Available-for-sale financial assets
Available-for-sale financial assets are
non-derivatives that are either designated
in this category or not classified in any of
the other categories. They are included in
non-current assets unless the investment
matures or management intends to
dispose of it within 12 months of the end
of the reporting period.
91
三和建築集團有限公司
二零一七年年報
綜合財務報表附註
Notes to the Consolidated Financial Statements
2 重大會計政策概要（續）
金融資產（續）
確認及計量
以常規方式買入及出售的
金融資產於本集團承諾買
入或出售資產的交易日確
認。對於並非按公平值透
過損益列賬之所有金融資
產之投資，初步按公平值
加交易成本確認。當收取
來自投資之現金流量的權
利到期或經已轉讓，而本
集團已將所有權的所有風
險和回報實際轉移時，金
融資產即終止確認。貸款
及應收款項其後用實際利
息法按攤銷成本列賬。可
供出售金融資產其後按公
平值列賬。
分類為可供出售之貨幣性
及非貨幣性證券之公平值
變動在其他全面收入中確
認。
當分類為可供出售之證券
售出或減值時，在權益中
確認之累計公平值調整
列入綜合全面收益表的
「投資證券之收益及虧損」
內。
可供出售證券利用實際利
率法計算之利息在綜合全
面收益表內確認為部分其
他收入。至於可供出售權
益工具之股息，當本集團
收取有關款項之權利確定
時，在綜合全面收益表內
確認為部分其他收入。
2 SUMMARY OF SIGNIFICANT ACCOUNTING
POLICIES (Continued)
Financial assets (Continued)
Recognition and measurement
Regular way purchases and sales of financial
assets are recognised on the trade-date –
the date on which the Group commits to
purchase or sell the asset. Investments are
initially recognised at fair value plus transaction
costs for all financial assets not carried at fair
value through profit or loss. Financial assets
are derecognised when the rights to receive
cash flows from the investments have expired
or have been transferred and the Group has
transferred substantially all risks and rewards
of ownership. Loans and receivables are
subsequently carried at amortised cost using
the effective interest method. Available-for-sale
financial assets are subsequently carried at fair
value.
Changes in the fair value of monetary and non-
monetary securities classified as available for
sale are recognised in other comprehensive
income.
When securities classified as available for
sale are sold or impaired, the accumulated
fair value adjustments recognised in equity
are included in the consolidated statement of
comprehensive income as “gains and losses
from investment securities”.
In terest on ava i lab le- for-sa le secur i t ies
calculated using the effective interest method
is recognised in the consolidated statement
of comprehensive income as part of other
income. Dividends on available-for-sale equity
instruments are recognised in the consolidated
statement of comprehensive income as part
of other income when the Group’s right to
receive payments is established.
92
ANNUAL REPORT 2017
SAM WOO CONSTRUCTION GROUP LIMITED
綜合財務報表附註
Notes to the Consolidated Financial Statements
2 重大會計政策概要（續）
金融資產（續）
抵銷金融工具
若擁有具法律約束力之行
使權可抵銷已確認之金額
及有意作淨額結算或同時
變現資產及負債，則抵銷
金融資產及負債，並於綜
合資產負債表內報告淨
額。具法律約束力之行使
權不得取決於未來事件及
倘本公司或對方違約、無
力償債或破產必須於正常
業務過程中可強制執行。
金融資產減值
(a) 按攤銷成本列賬之資產
本集團會於各報告期末評
估是否存在客觀證據證明
一項或一組金融資產出現
減值。只有當存在客觀證
據證明於初步確認資產後
發生一宗或多宗事件導致
減值情況出現（「虧損事
件」），而該宗（或該等）
虧損事件對該項或該組金
融資產的估計未來現金流
量構成的影響可合理估
計，有關金融資產方算出
現減值及產生減值損失。
2 SUMMARY OF SIGNIFICANT ACCOUNTING
POLICIES (Continued)
Financial assets (Continued)
Offsetting financial instruments
Financial assets and liabilities are offset and
the net amount reported in the consolidated
ba lance sheet when there i s a lega l l y
enforceable right to offset the recognised
amounts and there is an intention to settle on
a net basis or realise the asset and settle the
liability simultaneously. The legally enforceable
right must not be contingent on future events
and must be enforceable in the normal course
of business and in the event of default,
insolvency or bankruptcy of the company or
the counterparty.
Impairment of financial assets
(a) Assets carried at amortised cost
The Group assesses at the end of each
reporting period whether there is objective
evidence that a financial asset or group of
financial assets is impaired. A financial asset
or a group of financial assets is impaired and
impairment losses are incurred only if there is
objective evidence of impairment as a result
of one or more events that occurred after the
initial recognition of the asset (a “loss event”)
and that loss event (or events) has an impact
on the estimated future cash flows of the
financial asset or group of financial assets that
can be reliably estimated.
93
三和建築集團有限公司
二零一七年年報
綜合財務報表附註
Notes to the Consolidated Financial Statements
2 重大會計政策概要（續）
金融資產減值（續）
(a) 按攤銷成本列賬之資產
（續）
減值的證據可能包括債務
人或一組債務人正面臨重
大財政困難、違約或拖欠
利息或本金、債務人有可
能破產或進行其他財務重
組，以及有可觀察數據顯
示估計未來現金流量出現
可計量的減少，例如與違
約相關的拖欠情況或經濟
狀況改變。
就貸款及應收款項類別而
言，虧損金額乃根據資產
賬面值與按金融資產原
實際利率貼現的估計未來
現金流量（不包括尚未產
生的未來信用損失）現值
之間的差額計量。資產的
賬面值會被削減，而虧損
金額則在綜合損益表內確
認。倘貸款或持至到期投
資按浮動利率計息，計量
任何減值虧損的貼現率
為按合約釐定的當前實際
利率。作為可行的權宜之
計，本集團可利用可觀察
市場價格按某工具的公平
值計量減值。
2 SUMMARY OF SIGNIFICANT ACCOUNTING
POLICIES (Continued)
Impairment of financial assets (Continued)
(a) Assets carried at amortised cost (Continued)
E v i d e n c e o f i m p a i r m e n t m a y i n c l u d e
indications that the debtors or a group of
debtors is experiencing significant financial
difficulty, default or delinquency in interest
or principal payments, the probability that
they will enter bankruptcy or other financial
reorganisation, and where observable data
indicate that there is a measurable decrease
in the estimated future cash flows, such as
changes in arrears or economic conditions
that correlate with defaults.
For loans and receivables category, the
amount of the loss is measured as the
di f ference between the asset’s carry ing
amount and the present value of estimated
future cash flows (excluding future credit
losses that have not been incurred) discounted
at the f inancial asset’s original effective
interest rate. The carrying amount of the
asset is reduced and the amount of the loss
is recognised in the consolidated statement
of profit or loss. If a loan or held-to-maturity
investment has a variable interest rate, the
discount rate for measuring any impairment
loss is the current effective interest rate
determined under the contract. As a practical
expedient, the Group may measure impairment
on the basis of an instrument’s fair value using
an observable market price.
94
ANNUAL REPORT 2017
SAM WOO CONSTRUCTION GROUP LIMITED
綜合財務報表附註
Notes to the Consolidated Financial Statements
2 重大會計政策概要（續）
金融資產減值（續）
(a) 按攤銷成本列賬之資產
（續）
倘減值虧損金額於其後期
間減少，而能客觀釐定有
關減幅與確認減值後發生
的事件相關（如債務人的
信貸評級改善），則撥回
過往確認的減值虧損，並
於綜合全面收益表內確
認。
(b) 分類為可供出售之資產
本集團在每個報告期末評
估是否有客觀證據證明某
一金融資產或某一金融資
產組已經減值。
對於權益投資，擔保之公
平值顯著或持續下跌並低
於其成本，即證明該等資
產已減值。如存在此等證
據，累計虧損－按購買成
本與當時公平值的差額，
減該金融資產之前在綜合
全面收益表確認的任何減
值虧損計量－自權益中重
新分類並在綜合全面收益
表中記賬。在綜合全面收
益表中就權益工具確認的
減值虧損不得透過綜合全
面收益表撥回。
2 SUMMARY OF SIGNIFICANT ACCOUNTING
POLICIES (Continued)
Impairment of financial assets (Continued)
(a) Assets carried at amortised cost (Continued)
If, in a subsequent period, the amount of the
impairment loss decreases and the decrease
can be re la ted ob ject ive ly to an event
occurring after the impairment was recognised
(such as an improvement in the debtor’s
credit rating), the reversal of the previously
recognised impairment loss is recognised in
the consolidated statement of comprehensive
income.
(b) Assets classified as available for sale
The Group assesses at the end of each
reporting period whether there is objective
evidence that a financial asset or a group of
financial assets is impaired.
For equity investments, a s igni f icant or
prolonged decline in the fair value of the
security below its cost is also evidence that
the assets are impaired. If any such evidence
exists the cumulative loss – measured as the
difference between the acquisition cost and
the current fair value, less any impairment loss
on that financial asset previously recognised in
the consolidated statement of comprehensive
income – is reclassif ied from equity and
recognised in the consolidated statement of
comprehensive income. Impairment losses
recognised in the consolidated statement of
comprehensive income on equity instruments
are not reversed through the consolidated
statement of comprehensive income.
95
三和建築集團有限公司
二零一七年年報
綜合財務報表附註
Notes to the Consolidated Financial Statements
2 重大會計政策概要（續）
租賃資產
本集團租賃若干機械及設備。
若本集團擁有機械及設備租賃
所有權的絕大部分風險及回
報，該等機械及設備租賃歸類
為融資租賃。融資租賃在租賃
開始時按租賃機械及設備的公
平值與最低租賃付款現值兩者
的較低者撥充資本。
每項租金於負債及財務開支之
間分攤，以達到佔融資餘額的
固定比率。相應租賃責任在扣
除財務開支後計入其他短期及
其他長期應付款項內。財務費
用的利息部分於租賃期內在綜
合全面收益表內支銷，以使佔
各期間的負債餘額產生常數定
期比率。根據融資租購入的機
械及設備按資產的可使用年期
及租賃期兩者之間的較短者計
提折舊。
2 SUMMARY OF SIGNIFICANT ACCOUNTING
POLICIES (Continued)
Leased assets
The Group leases certain machinery and equipment.
Leases of machinery and equipment where the
Group has substantially all the risks and rewards of
ownership, are classified as finance leases. Finance
leases are capitalised at the lease’s commencement
at the lower of the fair value of the leased machinery
and equipment and the present value of the
minimum lease payments.
Each lease payment is allocated between the
liability and finance charges so as to achieve a
constant rate on the finance balance outstanding.
The corresponding rental obligations, net of finance
charges, are included in other short-term and
other long-term payables. The interest element of
the finance cost is charged to the consolidated
statement of comprehensive income over the lease
period so as to produce a constant periodic rate
of interest on the remaining balance of the liability
for each period. The machinery and equipment
acquired under finance leases is depreciated over
the shorter of the useful life of the asset and the
lease term.
96
ANNUAL REPORT 2017
SAM WOO CONSTRUCTION GROUP LIMITED
綜合財務報表附註
Notes to the Consolidated Financial Statements
2 重大會計政策概要（續）
應收貿易款項及其他應收款項
應收貿易款項為在日常經營活
動中就銷售商品或提供服務而
應收客戶的款項。如應收貿易
款項及其他應收款項的收回預
期在一年或以內（如仍在正常
經營週期中，則可較長時間），
其被分類為流動資產；否則呈
列為非流動資產。
應收貿易款項及其他應收款項
初步按公平值確認，其後以實
際利率法按攤銷成本減減值準
備計算。本集團有關應收貿易
款項之會計處理之其他資料載
於附註(a)，而本集團有
關減值政策之描述載於附註
(a)。
建築合約
香港會計準則第11號「建築合
約」對建築合約的定義為就建
造一項資產而特定商議的一項
合約。
若建築合約的結果能可靠估
計，而該合約很可能獲得盈
利，則合約收入參照完工階段
於合約期內確認。合約成本乃
參照合約活動的完成階段於報
告期末確認為費用。當總合約
成本有可能超過總合約收入
時，將預計虧損即時確認為費
用。
2 SUMMARY OF SIGNIFICANT ACCOUNTING
POLICIES (Continued)
Trade and other receivables
Trade receivables are amounts due from customers
for merchandise sold or services performed in the
ordinary course of business. If collection of trade
and other receivables is expected in one year or less
(or in the normal operating cycle of the business if
longer), they are classified as current assets. If not,
they are presented as non-current assets.
Trade and other receivables are recognised
initially at fair value and subsequently measured at
amortised cost using the effective interest method,
less allowance for impairment. See note (a) for
further information about the Group’s accounting for
trade receivables and note (a) for a description of
the Group’s impairment policies.
Construction contracts
A construction contract is defined by HKAS 11
Construction contracts, as a contract specifically
negotiated for the construction of an asset.
When the outcome of a construction contract
can be estimated reliably and it is probable that
the contract will be profitable, contract revenue
is recognised over the period of the contract by
reference to the stage of completion. Contract
costs are recognised as expenses by reference to
the stage of completion of the contract activity at
the end of the reporting period. When it is probable
that total contract costs will exceed total contract
revenue, the expected loss is recognised as an
expense immediately.
97
三和建築集團有限公司
二零一七年年報
綜合財務報表附註
Notes to the Consolidated Financial Statements
2 重大會計政策概要（續）
建築合約（續）
若建築合約的成果無法可靠估
計，則合約收入只能就有可能
收回的已產生合約成本的數額
確認。
合約工程變動、索償及獎金款
項應在客戶同意及在能可靠計
量的情況下計入合約收入。
本集團採用「完成百分比法」釐
定在某段期間內應確認的收入
金額。完成階段乃參照截至結
算日為止已進行工程佔總合約
價值的百分比計算。
於綜合資產負債表，本集團將
各合約的淨合約倉位匯報為
資產或負債。若一項合約所錄
得的成本加上已確認的溢利
（減去已確認虧損）超過進度付
款，則代表一項資產，反之則
代表一項負債。
現金及現金等價物
於綜合現金流量表內，現金及
現金等價物包括手頭現金及銀
行通知存款、原到期日不超過
三個月的其他短期高度流通投
資，以及銀行透支。於綜合資
產負債表內，銀行透支計入流
動負債中的借款內。
2 SUMMARY OF SIGNIFICANT ACCOUNTING
POLICIES (Continued)
Construction contracts (Continued)
When the outcome of a construction contract
cannot be estimated reliably, contract revenue is
recognised only to the extent of contract costs
incurred that are likely to be recoverable.
Variations in contract work, claims and incentive
payments are included in contract revenue to
the extent that may have been agreed with
the customer and are capable of being reliably
measured.
The Group uses the “percentage-of-completion
method” to determine the appropriate amount of
revenue to recognise in a given period. The stage
of completion is measured by reference to work
performed to date as a percentage of total contract
value.
On the consolidated balance sheet, the Group
reports the net contract position for each contract
as either an asset or a liability. A contract represents
an asset where costs incurred plus recognised
profits (less recognised losses) exceed progress
billings; a contract represents a liability where the
opposite is the case.
Cash and cash equivalents
In the consolidated statement of cash flows, cash
and cash equivalents include cash on hand and
deposits held at call with banks, other short-term
highly liquid investments with original maturity of
three months or less, and a bank overdraft. In the
consolidated balance sheet, bank overdrafts are
shown within borrowings in current liabilities.
98
ANNUAL REPORT 2017
SAM WOO CONSTRUCTION GROUP LIMITED
綜合財務報表附註
Notes to the Consolidated Financial Statements
2 重大會計政策概要（續）
股本
普通股被分類為權益。
直接歸屬於發行新股的新增成
本在權益中列為所得款項的減
少（扣除稅項）。
應付貿易款項及其他應付款項
應付貿易款項乃就日常業務過
程中從供應商購買的貨品或服
務付款的責任。如應付貿易款
項的支付日期在一年或以內
（如若長於一年，但於正常業務
經營週期內），則被分類為流
動負債。否則，在非流動負債
中呈列。
應付貿易款項及其他應付款項
初步按公平值確認，隨後用實
際利率法按攤銷成本計量。
借款
借款初步按公平值扣除已產生
的交易成本確認。借款其後按
攤銷成本列賬，所得款項（扣
除交易成本）與贖回價值的任
何差額於借款期內使用實際利
率法於綜合全面收益表內確認。
2 SUMMARY OF SIGNIFICANT ACCOUNTING
POLICIES (Continued)
Share capital
Ordinary shares are classified as equity.
Incremental costs directly attributable to the issue of
new shares are shown in equity as a deduction, net
of tax, from the proceeds.
Trade and other payables
Trade payables are obligations to pay for goods or
services that have been acquired in the ordinary
course of business from suppliers. Trade payables
are classified as current liabilities if payment is due
within one year or less (or in the normal operating
cycle of the business if longer). If not, they are
presented as non-current liabilities.
Trade and other payables are recognised initially at
fair value and subsequently measured at amortised
cost using the effective interest method.
Borrowings
Borrowings are recognised initially at fair value,
net of transaction costs incurred. Borrowings
are subsequently stated at amortised cost; any
difference between the proceeds (net of transaction
costs) and the redemption value is recognised in the
consolidated statement of comprehensive income
over the period of the borrowings using the effective
interest method.
99
三和建築集團有限公司
二零一七年年報
綜合財務報表附註
Notes to the Consolidated Financial Statements
2 重大會計政策概要（續）
借款（續）
在貸款將很有可能部分或全部
提取的情況下，就設立貸款融
資時支付的費用確認為貸款的
交易成本。在此情況下，該費
用將遞延至提取貸款為止。在
並無跡象顯示該貸款將很有可
能部分或全部提取的情況下，
該費用會資本化作為流動資金
服務的預付款項，並於有關融
資期間內予以攤銷。
若合約所指定的責任被解除、
取消或終止時，借款會從綜合
資產負債表被取消。
除非本集團有權無條件將債務
結算遞延至結算日後至少十二
個月，否則借款將被分類為流
動負債。
借款成本
借款成本於其產生期間在綜合
全面收益表中支銷。
2 SUMMARY OF SIGNIFICANT ACCOUNTING
POLICIES (Continued)
Borrowings (Continued)
Fees paid on the establishment of loan facilities
are recognised as transaction costs of the loan to
the extent that it is probable that some or all of the
facility will be drawn down. In this case, the fee is
deferred until the draw-down occurs. To the extent
there is no evidence that it is probable that some
or all of the facility will be drawn down, the fee is
capitalised as a pre-payment for liquidity services
and amortised over the period of the facility to which
it relates.
Borrowings are removed from the consolidated
balance sheet when the obligation specified in the
contract is discharged, cancelled or expired.
Borrowings are classified as current liabilities unless
the Group has an unconditional right to defer
settlement of the liability for at least twelve months
after the balance sheet date.
Borrowing costs
Borrowing costs are charged to the consolidated
statement of comprehensive income in the period in
which they are incurred.
100
ANNUAL REPORT 2017
SAM WOO CONSTRUCTION GROUP LIMITED
綜合財務報表附註
Notes to the Consolidated Financial Statements
2 重大會計政策概要（續）
撥備
當本集團須就已發生的事件承
擔現有的法定或推定責任，而
履行該責任很可能會導致資源
流出，而資源流出金額能可靠
估計，則確認撥備。不會就未
來經營虧損確認撥備。
倘出現多項類似責任，則履行
該責任是否會導致資源流出須
對責任類別作整體考慮後釐
定。即使同類別責任中的任何
一項導致資源流出的可能性很
低，仍須確認撥備。
撥備採用稅前比率（可反映現
時市場對貨幣時間價值及該責
任的特定風險的評估），按預
期履行責任所需開支的現值計
量。因時間過去而增加的撥備
確認為利息開支。
即期及遞延所得稅
期內的所得稅開支包括即期及
遞延所得稅。稅項乃於綜合全
面收益表內確認，惟與於其他
全面收入或直接於權益確認的
項目有關的稅項除外。在此情
況下，稅項亦分別於其他全面
收入或直接於權益內確認。
2 SUMMARY OF SIGNIFICANT ACCOUNTING
POLICIES (Continued)
Provisions
Provisions are recognised when the Group has a
present legal or constructive obligation as a result
of past events; it is probable that an outflow of
resources will be required to settle the obligation;
and the amount can be re l iab ly est imated.
Provisions are not recognised for future operating
losses.
Where there are a number of similar obligations,
the likelihood that an outflow will be required in
settlement is determined by considering the class
of obligations as a whole. A provision is recognised
even if the likelihood of an outflow with respect
to any one item included in the same class of
obligations may be small.
Provisions are measured at the present value of the
expenditures expected to be required to settle the
obligation using a pre-tax rate that reflects current
market assessments of the time value of money and
the risks specific to the obligation. The increase in
the provision due to passage of time is recognised
as interest expense.
Current and deferred income tax
The tax expense for the period comprises current
and deferred income tax. Tax is recognised in
the consolidated statement of comprehensive
income, except to the extent that it relates to
items recognised in other comprehensive income
or directly in equity. In this case, the tax is also
recognised in other comprehensive income or
directly in equity, respectively.
101
三和建築集團有限公司
二零一七年年報
綜合財務報表附註
Notes to the Consolidated Financial Statements
2 重大會計政策概要（續）
即期及遞延所得稅（續）
(a) 即期所得稅
即期所得稅支出乃根據本
集團營運所在及產生應課
稅收入的國家於結算日已
頒佈或實質頒佈的稅務法
例計算。管理層就適用稅
務法例詮釋所規限的情況
定期評估報稅表的狀況。
其在適用情況下根據預期
須向稅務機關支付的稅款
設定撥備。
(b) 遞延所得稅
內部基準差異
遞延所得稅採用負債法就
資產及負債的稅基與其於
綜合財務報表的賬面值之
間的暫時性差額確認。然
而，倘遞延所得稅負債自
初步確認商譽產生則不會
予以確認，而倘遞延所得
稅乃產生自交易（業務合
併除外）中初步確認的資
產或負債，且對交易當時
的會計或應課稅溢利或
虧損並無影響，則不會入
賬。遞延所得稅乃根據結
算日已頒佈或實際頒佈，
並預期於有關遞延所得稅
資產變現或遞延所得稅負
債清償時適用的稅率（及
法例）釐定。
2 SUMMARY OF SIGNIFICANT ACCOUNTING
POLICIES (Continued)
Current and deferred income tax (Continued)
(a) Current income tax
The current income tax charge is calculated
on the basis of the tax laws enacted or
substantively enacted at the balance sheet
date in the countr ies where the Group
operates and generates taxable income.
Management periodically evaluates positions
taken in tax returns with respect to situations
in which applicable tax regulation is subject to
interpretation. It establishes provisions where
appropriate on the basis of amounts expected
to be paid to the tax authorities.
(b) Deferred income tax
Inside basis differences
Deferred income tax is recognised, using the
liabil ity method, on temporary differences
arising between the tax bases of assets
and l iabil it ies and their carrying amounts
in the consolidated f inancial statements.
However, the deferred income tax liabilities
are not recognised if they arise from the initial
recognition of goodwill, the deferred income
tax is not accounted for if it arises from
initial recognition of an asset or liability in a
transaction other than a business combination
that at the time of the transaction affects
neither accounting nor taxable profit or loss.
Deferred income tax is determined using tax
rates (and laws) that have been enacted or
substantively enacted by the balance sheet
date and are expected to apply when the
related deferred income tax asset is realised or
the deferred income tax liability is settled.
102
ANNUAL REPORT 2017
SAM WOO CONSTRUCTION GROUP LIMITED
綜合財務報表附註
Notes to the Consolidated Financial Statements
2 重大會計政策概要（續）
即期及遞延所得稅（續）
(b) 遞延所得稅（續）
內部基準差異（續）
遞延所得稅資產乃就有可
能將未來應稅溢利與可動
用的暫時性差額抵銷而確
認。
外部基準差異
遞延所得稅乃就於附屬公
司的投資所產生的應課稅
暫時性差額作出撥備，惟
本集團能控制暫時性差
額的撥回時間，且暫時性
差額不大可能在可見將來
撥回的遞延所得稅負債除
外。
遞延所得稅資產乃就於附
屬公司的投資所產生的可
扣稅暫時性差額確認，惟
僅以暫時性差額有可能在
將來撥回，以及有足夠應
課稅溢利可供抵銷暫時性
差額為限。
(c) 抵銷
當有法定可執行權利可將
即期稅項資產與即期稅務
負債抵銷，而遞延所得稅
資產及負債與同一稅務機
關向同一應課稅實體或不
同應課稅實體徵收的所得
稅有關，並有意按淨額結
算餘款，則可將遞延所得
稅資產與負債抵銷。
2 SUMMARY OF SIGNIFICANT ACCOUNTING
POLICIES (Continued)
Current and deferred income tax (Continued)
(b) Deferred income tax (Continued)
Inside basis differences (Continued)
Deferred income tax assets are recognised
to the extent that it is probable that future
taxable profit will be available against which
the temporary differences can be utilised.
Outside basis differences
Deferred income tax is provided on taxable
temporary differences arising on investments
in subsidiaries, except for deferred income
tax liability where the timing of the reversal of
the temporary difference is controlled by the
Group and it is probable that the temporary
difference will not reverse in the foreseeable
future.
Deferred income tax assets are recognised on
deductible temporary differences arising from
investments in subsidiaries, only to the extent
that it is probable the temporary difference
will reverse in the future and there is sufficient
taxable profit available against which the
temporary difference can be utilised.
(c) Offsetting
Deferred income tax assets and liabilities are
offset when there is a legally enforceable right
to offset current tax assets against current
tax liabilities and when the deferred income
taxes assets and liabilities relate to income
taxes levied by the same taxation authority on
either the taxable entity or different taxable
entities where there is an intention to settle the
balances on a net basis.
103
三和建築集團有限公司
二零一七年年報
綜合財務報表附註
Notes to the Consolidated Financial Statements
2 重大會計政策概要（續）
政府補助
當能夠合理地保證補助將可收
取，而本集團將會符合所有附
帶條件時，將政府提供的補助
按其公平值確認入賬。
與成本有關之政府補助遞延入
賬，並按擬補償之成本配合其
所需期間在綜合收益表中確認。
收入確認
收入包括於本集團的日常業務
過程中就銷售貨品及服務所收
或應收代價的公平值。本集團
於收入金額能夠可靠計量、未
來經濟利益有可能流入實體及
已符合特定標準時確認收入。
收入乃經扣除銷售稅、退貨、
回扣及折扣以及抵銷本集團內
部的銷售後呈列。
建築合約的收入根據合約完
成階段確認（詳見上文附註
）。
租賃機械及設備的租金收入於
租賃期內以直線法確認。
2 SUMMARY OF SIGNIFICANT ACCOUNTING
POLICIES (Continued)
Government grants
Grants from the government are recognised at their
fair values where there is a reasonable assurance
that the grant will be received and the Group will
comply with all attached conditions.
Government grants relating to costs are deferred
and recognised in the consol idated income
statement over the period necessary to match
them with the costs that they are intended to
compensate.
Revenue recognition
Revenue comprises the fair value of the consideration
received or receivable for the sale of goods and
services in the ordinary course of the Group’s
activities. The Group recognises revenue when the
amount of revenue can be reliably measured, it is
probable that future economic benefits will flow
to the entity and specific criteria have been met.
Revenue is shown net of sales tax, returns, rebates
and discounts and after eliminating sales within the
Group.
Revenue from construction contracts is recognised
based on the stage of completion of the contracts
as detailed in note above.
Rental income from leasing of machinery and
equipment is recognised based on the straight-line
basis over the lease terms.
104
ANNUAL REPORT 2017
SAM WOO CONSTRUCTION GROUP LIMITED
綜合財務報表附註
Notes to the Consolidated Financial Statements
2 重大會計政策概要（續）
收入確認（續）
利息收入以實際利率法確認。
如貸款及應收款項出現減值，
本集團會將其賬面值撇減至其
可收回金額，即按該工具原定
實際利率折現的估計未來現金
流量，並繼續將折現金額兌現
作利息收入。有關減值貸款及
應收款項的利息收入按原定實
際利率確認。
僱員福利
(a) 僱員應享假期
僱員享有年假的權利在僱
員應享有時確認。本公司
就截至結算日止僱員已提
供的服務所產生的年假的
估計負債作出撥備。
僱員可享有的病假及產假
或陪妻分娩假於休假時方
予確認。
(b) 退休福利
本集團設有定額供款計
劃，並按強制規定、合約
或自願基準向由公營或
私營機構管理的退休金保
險計劃作出供款。本集團
於支付有關供款後再無其
他付款責任。有關供款於
到期時確認為僱員福利開
支。預付供款於可能有現
金退款或可用作扣減日後
供款時確認為資產。
2 SUMMARY OF SIGNIFICANT ACCOUNTING
POLICIES (Continued)
Revenue recognition (Continued)
Interest income is recognised using the effective
interest method. When a loan and receivable is
impaired, the Group reduces the carrying amount to
its recoverable amount, being the estimated future
cash flow discounted at the original effective interest
rate of the instrument, and continues unwinding
the discount as interest income. Interest income on
impaired loans and receivables is recognised using
the original effective interest rate.
Employee benefits
(a) Employee leave entitlements
Employee entitlements to annual leave are
recognised when they accrue to employees. A
provision is made for the estimated liability for
annual leave as a result of services rendered
by employees up to the balance sheet date.
Employee entit lements to sick leave and
ma te rn i t y o r pa te rn i t y l eaves a re no t
recognised until the time of leave.
(b) Retirement benefits
The Group operates defined contribution plans
and pays contributions to publicly or privately
administered pension insurance plans on a
mandatory, contractual or voluntary basis.
The Group has no further payment obligations
once the contributions have been paid. The
contributions are recognised as employee
benefit expenses when they are due. Prepaid
contributions are recognised as an asset to
the extent that a cash refund or a reduction in
the future payments is available.
105
三和建築集團有限公司
二零一七年年報
綜合財務報表附註
Notes to the Consolidated Financial Statements
2 重大會計政策概要（續）
僱員福利（續）
(c) 離職福利
離職福利於僱員在正常退
休日期前被本集團終止僱
用，或僱員自願接受遣散
以換取該等福利時支付。
本集團於其明確承諾根據
具體正式計劃終止現職僱
員的僱用且不可能撤回承
諾時確認離職福利。在提
出鼓勵自願接受遣散要求
的情況下，離職福利會根
據預期接受要約的僱員人
數計量。於結算日後十二
個月以上到期的福利將折
算為現值。
經營租賃
所有權的大部分風險及回報由
出租人保留的租賃均分類為經
營租賃。根據經營租賃支付的
款項（經扣除自出租人收取的
任何獎勵後）於租賃年期內以
直線法於綜合全面收益表支銷。
股息分派
向本公司股東分派的股息在本
公司股東或董事（如適合）批准
派息的期間於本集團的綜合財
務報表及本公司的財務報表內
列為負債。
2 SUMMARY OF SIGNIFICANT ACCOUNTING
POLICIES (Continued)
Employee benefits (Continued)
(c) Termination benefits
Terminat ion benef i ts are payable when
employment is terminated by the Group before
the normal retirement date, or whenever an
employee accepts voluntary redundancy
in exchange for these benefits. The Group
recognises termination benefits when it is
demonstrably committed to a termination
when the entity has a detailed formal plan
to terminate the employment of current
employees without possibility of withdrawal.
In the case of an offer made to encourage
voluntary redundancy the termination benefits
are measured based on the number of
employees expected to accept the offer.
Benefits falling due more than twelve months
after balance sheet date are discounted to
present value.
Operating leases
Leases in which a significant portion of the risks
and rewards of ownership are retained by the
lessors are classified as operating leases. Payments
made under operating leases (net of any incentives
received from the lessors) are charged to the
consolidated statement of comprehensive income
on a straight-line basis over the period of the lease.
Dividend distribution
Dividend distribution to the Company’s shareholders
i s recogn ised as a l i ab i l i t y in the Group’s
consolidated financial statements and Company’s
financial statements in the period in which the
d iv idends a re approved by the Company’s
shareholders or directors, where appropriate.
106
ANNUAL REPORT 2017
SAM WOO CONSTRUCTION GROUP LIMITED
綜合財務報表附註
Notes to the Consolidated Financial Statements
2 重大會計政策概要（續）
或然負債
或然負債指因已發生的事件而
可能引起的責任，而須視乎日
後會否出現一宗或多宗本集團
無法完全控制的不確定事件方
可確實。或然負債亦可能是已
發生的事件引致的現有責任，
但由於未必需要流出經濟資源
或負債數額無法可靠估計而未
有確認。
或然負債不予確認，但於綜合
財務報表的附註內披露。倘經
濟資源流出的可能性改變而很
可能流出經濟資源，則此等負
債將確認為撥備。
3 財務風險管理
財務風險因素
本集團的業務活動面對各種財
務風險：市場風險（包括外匯風
險及利率風險）、信貸風險及
流動資金風險。本集團的整體
風險管理計劃著眼於金融市場
的不可預測性，並盡量將其對
本集團財務表現的潛在不利影
響降至最低。
風險管理按照本公司董事批准
的方針實施。董事就整體風險
管理制訂原則，以及就特定範
疇制訂政策。
2 SUMMARY OF SIGNIFICANT ACCOUNTING
POLICIES (Continued)
Contingent liabilities
A contingent liability is a possible obligation that
arises from past events and whose existence
will only be confirmed by the occurrence or non-
occurrence of one or more uncertain future events
not wholly within the control of the Group. It can
also be a present obligation arising from past events
that is not recognised because it is not probable
that outflow of economic resources will be required
or the amount of obligation cannot be measured
reliably.
A contingent l iabil ity is not recognised but is
disclosed in the notes to the consolidated financial
statements. When a change in the probability of an
outflow occurs so that outflow is probable, they will
then be recognised as a provision.
3 FINANCIAL RISK MANAGEMENT
Financial risk factors
The Group’s activ it ies expose it to a variety
of financial risk: market risk (including foreign
exchange risk and interest rate risk), credit risk and
liquidity risk. The Group’s overall risk management
programme focuses on the unpredictabil ity of
the f inancial markets and seeks to minimise
potential adverse effects on the Group’s financial
performance.
Risk management is carried out under policies
approved by the directors of the Company. The
Directors provide principles for an overall risk
management, as well as policies covering specific
areas.
107
三和建築集團有限公司
二零一七年年報
綜合財務報表附註
Notes to the Consolidated Financial Statements
3 財務風險管理（續）
財務風險因素（續）
(a) 市場風險
(i) 外匯風險
外匯風險來自以並
非為本公司功能貨
幣的貨幣計值的未
來商業交易及已確
認資產及負債。
本集團的交易主要
以 港 元 及 澳 門 幣
（「澳門幣」）結算。
資產及負債大部分
以港元及澳門幣結
算，且並無任何重
大資產及負債以其
他貨幣折算。管理
層認為澳門幣的外
匯風險極低，原因
為澳門幣的匯率波
幅極微。
(ii) 利率風險
本集團的利率風險
主要源自其現金及
銀 行 結 餘 以 及 借
款。除了浮息借款
外，本集團並無其
他重要計息負債。
浮息借款令本集團
面對現金流量利率
風險。按固定利率
計息的現金及銀行
結餘令本集團面對
公平值利率風險。
本集團並無使用利
率掉期對沖其利率
風險。
3 FINANCIAL RISK MANAGEMENT (Continued)
Financial risk factors (Continued)
(a) Market risk
(i) Foreign exchange risk
Fore ign exchange r isk ar ises f rom
future commercial transact ions and
recognised assets and liabilities which
are denominated in a currency that is not
the Company’s functional currency.
The Group’s transactions are mainly
denominated in HK$ and Macao Patacas
(“MOP”). The majority of assets and
liabilities are denominated in HK$ and
MOP, and there are no significant assets
and l iabi l i t ies denominated in other
currencies. Management considered that
the foreign exchange risk for MOP is
minimal since exchange rate fluctuation
was minimal.
(ii) Interest rate risk
The Group’s interest rate risk is mainly
a t t r ibu tab le to i t s cash and bank
balances and borrowings. Except for
borrowings with variable interest, the
Group has no other significant interest-
bearing liabilities. Borrowings at variable
interest rates expose the Group to cash
flow interest rate risk. Cash and bank
balances at fixed rates expose the Group
to fair value interest rate risk. The Group
has not used any interest rate swaps to
hedge its exposure to interest rate risk.
108
ANNUAL REPORT 2017
SAM WOO CONSTRUCTION GROUP LIMITED
綜合財務報表附註
Notes to the Consolidated Financial Statements
3 財務風險管理（續）
財務風險因素（續）
(a) 市場風險（續）
( ii) 外匯風險（續）
於 2 0 1 7 年 3 月 3 1
日，倘 借 款 的 利
率上調╱下調100
個 基 點，而 所 有
其 他 因 數 保 持 不
變，則 年 內 除 稅
後 溢 利 將 分 別 減
少╱增加2,276,000
港 元（ 2 0 1 6 年：
2,579,000港元），
主要由於浮息借款
的利息開支增加╱
減少所致。
(b) 信貸風險
本集團就其現金及現金等
價物、短期存款、受限制
銀行結餘、應收貿易款項
及保留金，以及按金及其
他應收款項而承受信貸風
險。本集團承受的最大信
貸風險為該等金融資產的
賬面值。
截至2017年3月31日止年
度，本集團來自兩大客
戶（2016年：五大客戶）
的收入佔本集團收入的
97%（2016年：96%）。
於2017年3月31日，由
於應收貿易款項的100%
（2016年：100%）為應收
本集團三名（2016年：六
名）客戶的款項，故本集
團有信貸集中風險。
3 FINANCIAL RISK MANAGEMENT (Continued)
Financial risk factors (Continued)
(a) Market risk (Continued)
(ii) Interest rate risk (Continued)
As at 31 March 2017, if the interest
rates on borrowings had been 100
basis-points higher/lower with all other
variables held constant, post-tax profit
for the year would be HK$2,276,000
(2016: HK$2,579,000) lower/h igher
mainly as a result of higher/lower interest
expense on floating rate borrowings.
(b) Credit risk
The Group is exposed to credit risk in relation
to its cash and cash equivalents, short-term
deposits, restricted bank balances, trade and
retention receivables and deposits and other
receivables. The Group’s maximum exposure
to credit risk is the carrying amounts of these
financial assets.
For the year ended 31 March 2017, 97%
( 2 0 1 6 : 9 6 % ) o f t h e G r o u p ’ s r e v e n u e
was derived from its top two (2016: five)
customers. As at 31 March 2017, the Group
had concentration of credit risk as 100%
(2016: 100%) of the trade receivables were
due from the Group’s three (2016: s ix )
customers.
109
三和建築集團有限公司
二零一七年年報
綜合財務報表附註
Notes to the Consolidated Financial Statements
3 財務風險管理（續）
財務風險因素（續）
(b) 信貸風險（續）
為管理此風險，管理層一
直監察有關程序以確保採
取跟進行動收回逾期債
項。此外，管理層會定期
檢討各個別應收貿易款項
及保留金的可收回金額，
以確保就不可收回金額作
出足夠減值撥備。
銀行存款的信貸風險有
限，因為該等存款均存放
於具良好信貸評級的銀
行。
(c) 流動資金風險
流動資金風險指實體難以
履行以交付現金或另一金
融資產以清償金融負債的
相關責任的風險。
本集團透過多種方式（包
括於本集團認為適當的情
況下有序變現短期財務
資產、應收款項及若干資
產）維持流動資金，本集
團亦同時考慮將長期融
資（包括長期借款）納入
其資本結構內。本集團旨
在透過保持充足銀行結餘
及計息借款，從而維持資
金的靈活彈性，讓本集團
於可見將來繼續經營其業
務。
3 FINANCIAL RISK MANAGEMENT (Continued)
Financial risk factors (Continued)
(b) Credit risk (Continued)
To manage th is r isk , management has
monitoring procedures to ensure that follow-
up action is taken to recover overdue debts.
In addition, management reviews regularly
the recoverable amount of each individual
trade and retention receivable to ensure that
adequate impairment provision is made for the
irrecoverable amounts.
The credit risk on deposits with bank is limited
because deposits are in banks with sound
credit ratings.
(c) Liquidity risk
Liquidity risk refers to the risk that an entity
will encounter difficulty in meeting obligations
associated with financial liabilities that are
settled by delivering cash or another financial
assets.
The Group maintains liquidity by a number
of sources including orderly realisation of
short-term financial assets, receivables and
certain assets that the Group considers
appropriate and long term financing including
long-term borrowings are also considered
by the Group in its capital structuring. The
Group aims to maintain flexibility in funding by
keeping sufficient bank balances and interest
bearing borrowings which enable the Group
to continue its business for the foreseeable
future.
110
ANNUAL REPORT 2017
SAM WOO CONSTRUCTION GROUP LIMITED
綜合財務報表附註
Notes to the Consolidated Financial Statements
3 財務風險管理（續）
財務風險因素（續）
(c) 流動資金風險（續）
下表呈列根據於結算日至
合約到期日的餘下期間按
有關到期情況劃分的本集
團金融負債分析。該表所
披露的金額為合約未折現
現金流量（包括根據合約
利率計算的利息付款，或
如按浮動利率計息，則為
根據年結日的當前利率
計算的利息付款）。如貸
款協議內載有讓貸款人
可隨時無條件要求償還之
條款，此等貸款則歸類於
貸款人最早可要求償還之
時期。其他借款的到期日
分析乃根據協定還款日期
編製。由於折現的影響不
大，於12個月內到期的
結餘與其賬面值相等。
3 FINANCIAL RISK MANAGEMENT (Continued)
Financial risk factors (Continued)
(c) Liquidity risk (Continued)
The table below analyses the Group’s financial
l iabil it ies into relevant maturity groupings
based on the remaining period at the balance
sheet date to the contractual maturity date.
The amounts disclosed in the table are
the contractual undiscounted cash f lows
(including interests payments computed using
contractual rates, or if floating, based on the
current rates at the year end date). Where
the loan agreement contains a repayable on
demand clause which gives the lender the
unconditional right to call the loan at any time,
the amounts repayable are classified in the
earliest time bracket in which the lender could
demand repayment. The maturity analysis
for other borrowings is prepared based on
the scheduled repayment dates. Balances
due within 12 months equal their carrying
balances, as the impact of discounting is not
significant.
111
三和建築集團有限公司
二零一七年年報
綜合財務報表附註
Notes to the Consolidated Financial Statements
3 財務風險管理（續）
財務風險因素（續）
(c) 流動資金風險（續）
3 FINANCIAL RISK MANAGEMENT (Continued)
Financial risk factors (Continued)
(c) Liquidity risk (Continued)
On demand
and
less than
1 year
Between
1 and 2
years
Between
3 and 5
years
More than
5 years Total
按要求及
少於一年 一至兩年 三至五年 超過五年 總計
HK$’000 HK$’000 HK$’000 HK$’000 HK$’000
千港元 千港元 千港元 千港元 千港元
As at 31 March 2017 於2017年3月31日
Trade and retention payables 應付貿易款項及保留金 79,534 – – – 79,534
Accruals and other payables 應計款項及其他應付款項 12,973 – – – 12,973
Amount due to a director 應付一名董事款項 – – 21,849 – 21,849
Long-term bank loans 長期銀行貸款 38,277 20,041 7,419 – 65,737
Short-term bank loans 短期銀行貸款 137,250 – – – 137,250
Obligations under finance leases 融資租賃責任 26,396 17,797 9,296 – 53,489
As at 31 March 2016 於2016年3月31日
Trade and retention payables 應付貿易款項及保留金 87,307 – – – 87,307
Accruals and other payables 應計款項及其他應付款項 15,446 – – – 15,446
Amount due to a director 應付一名董事款項 – – – 23,725 23,725
Bank overdraft 銀行透支 3 – – – 3
Long-term bank loans 長期銀行貸款 90,841 32,404 23,760 – 147,005
Short-term bank loans 短期銀行貸款 35,867 – – – 35,867
Obligations under finance leases 融資租賃責任 48,499 40,408 28,953 – 117,860
112
ANNUAL REPORT 2017
SAM WOO CONSTRUCTION GROUP LIMITED
綜合財務報表附註
Notes to the Consolidated Financial Statements
3 財務風險管理（續）
資本風險管理
本集團管理資本的目標是保障
本集團有持續經營的能力，從
而為股東帶來回報及為其他權
益持有人提供利益，同時保持
最佳的資本結構以降低資本成
本。
本集團的資本結構包括權益
及借款。為維持或調整資本架
構，本集團或會調整支付予股
東的股息金額、向股東發還資
金、發行新股或出售資產以減
少借款。本集團以資產負債比
率監察資本。資產負債比率以
負債淨額除以總權益計算。負
債淨額以總借款減現金及現金
等價物、短期銀行存款以及就
作為借款抵押品所抵押之受限
制銀行結餘計算。資產負債比
率如下：
3 FINANCIAL RISK MANAGEMENT (Continued)
Capital risk management
The Group’s objectives when managing capital
are to safeguard the Group’s ability to continue
as a going concern in order to provide returns for
shareholders and benefits for other stakeholders
and to maintain an optimal capital structure to
reduce the cost of capital.
The capital structure of the Group consists of equity
and borrowings. In order to maintain or adjust the
capital structure, the Group may adjust the amount
of dividends paid to shareholders, return capital
to shareholders, issue new shares or sell assets
to reduce borrowings. The Group monitors capital
on the basis of gearing ratio. The gearing ratio is
calculated as net debt divided by total equity. Net
debt is calculated as total borrowings less cash
and cash equivalents, short-term bank deposit and
restricted bank balances pledged for security of the
borrowings. The gearing ratios were as follows:
2017 2016
HK$’000 HK$’000
千港元 千港元
Borrowings (including obligations
under finance leases and bank
overdraft) (note 22)
借款（包括融資租賃責任及
銀行透支）（附註22）
251,741 288,317
Less: cash and cash equivalents
and short-term bank deposit
減：現金及現金等價物
以及短期銀行存款 (347,943) (200,857)
Net (cash)/debt （現金）╱負債淨額 (96,202) 87,460
Total equity 權益總額 696,231 655,051
Gearing ratio 資產負債比率 N/A不適用 13%
113
三和建築集團有限公司
二零一七年年報
綜合財務報表附註
Notes to the Consolidated Financial Statements
3 財務風險管理（續）
公平值估計
本集團的金融資產（可供出售
金融資產除外）及金融負債（包
括現金及現金等價物、短期銀
行存款、受限制銀行結餘、應
收貿易款項及保留金、按金及
其他應收款項，應付貿易款項
及保留金、其他應付款項及借
款）因到期日較短或按浮動利
率計息，該等資產及負債的賬
面值與彼等的公平值相若。
應付一名董事款項的賬面值為
其公平值的合理約數。
本集團之金融工具按用以計算
公平值之估值技術輸入值層級
於綜合資產負債表按公平值入
賬。該等輸入值按照公平值層
級歸類為如下三層：
• 相同資產或負債在活躍市
場的報價（未經調整）（第
一層）。
• 除了第一層所包括的報價
外，該資產或負債的可觀
察的其他輸入，可為直接
（即例如價格）或間接（即
源自價格）（第二層）。
• 資產或負債並非依據可觀
察市場數據的輸入（即非
可觀察輸入）（第三層）。
3 FINANCIAL RISK MANAGEMENT (Continued)
Fair value estimation
The carrying amounts of the Group’s financial
assets (other than available-for-sale financial assets)
and financial liabilities, including cash and cash
equivalents, short-term bank deposits, restricted
bank balances, trade and retention receivables,
depos i t s and o the r rece i vab les , t rade and
retention payables, other payables and borrowings
approximate their fair values, which either due to
their short-term maturities, or that they are subject
to floating rates.
The carrying amount of amount due to a director
was a reasonable approximation of its fair value.
The Group’s financial instruments are measured
in the consolidated balance sheet at fair value by
level of the inputs to valuation techniques used to
measure fair value. Such inputs are categorised into
three levels within a fair value hierarchy as follows:
• Quoted prices (unadjusted) in active markets
for identical assets or liabilities (level 1).
• Inputs other than quoted prices included
within level 1 that are observable for the asset
or liability, either directly (that is, as prices) or
indirectly (that is, derived from prices) (level 2).
• Inputs for the asset or liability that are not
based on observable market data (that is,
unobservable inputs) (level 3).
2017 2016
HK$’000 HK$’000
千港元 千港元
Level 3 第三層
Available-for-sale financial assets 可供出售金融資產
– Unlisted equity securities －非上市股本證券 19,750 –
There were no transfers among levels 1, 2 and 3
during the year.
年內，於第一層、第二層及第
三層之間並無轉撥。
114
ANNUAL REPORT 2017
SAM WOO CONSTRUCTION GROUP LIMITED
綜合財務報表附註
Notes to the Consolidated Financial Statements
4 重要會計估計及判斷
估計及判斷乃依據過去經驗及其他
因素（包括在個別情況下對未來事件
作出被認為合理的預期）作持續評
估。
本集團對未來作出估計及假設。就
會計估計的結果而言，顧名思義，
絕少會與有關實際結果相同。有極
高風險導致下個財政年度的資產及
負債的賬面值作出重大調整的估計
及假設討論如下。
(a) 機械及設備的估計可使用年期
及剩餘價值
管理層乃參考本集團的業務模
式、其資產管理政策、行業慣
例、資產預期用途、預期維修
及保養、因市場變化或改善導
致的技術或商業方面過時，估
計機械及設備的可使用年期。
機械及設備的剩餘價值乃根據
具同等賬齡資產的現行市值釐
定，並計及有關資產的狀況或
廢鐵的價值及其他經濟考慮因
素。管理層所估計機械及設備
的可使用年期及剩餘價值將對
折舊費用有重大影響。
若機械及設備的剩餘價值進一
步減少10%，則於截至2017年
3月31日止年度的折舊費用將
增加2,795,000港元（2016年：
8,116,000港元）。
4 CRITICAL ACCOUNTING ESTIMATES AND
JUDGEMENTS
Estimates and judgements are continually evaluated and
are based on historical experience and other factors,
including expectations of future events that are believed
to be reasonable under the circumstances.
The Group makes estimates and assumptions concerning
the future. The resulting accounting estimates will, by
definition, seldom equal the related actual results. The
estimates and assumptions that have a significant risk of
causing a material adjustment to the carrying amounts
of assets and liabilities within the next financial year are
addressed below.
(a) Estimated useful lives and residual values of plant
and equipment
Management estimates useful lives of the plant
and equipment by reference to the Group’s
business model, its assets management policy, the
industry practice, expected usage of the assets,
expected repair and maintenance, the technical
or commercial obsolescence arising from changes
or improvements in the market. Residual values
of the machinery and equipment are determined
based on prevailing market values for equivalent
aged assets taking into account the condition of the
relevant assets or the value of scrap metal and other
economic considerations. Depreciation expense
would be significantly affected by the useful lives
and residual values of the plant and equipment as
estimated by management.
If the residual values of plant and equipment
had further decreased by 10%, the depreciation
expenses would increase by HK$2,795,000 for the
year ended 31 March 2017 (2016: HK$8,116,000).
115
三和建築集團有限公司
二零一七年年報
綜合財務報表附註
Notes to the Consolidated Financial Statements
4 重要會計估計及判斷（續）
(b) 機械及設備的估計減值
本集團的主要營運資產為機械
及設備。倘有事件發生或情況
改變顯示機械及設備的賬面值
可能無法收回，則管理層會對
該等資產進行減值評估。
由於機械及設備用於可賺取利
潤的建築項目，且二手市場的
需求強勁，管理層認為，機械
及設備於有關期間並無減值跡
象。
(c) 應收貿易款項及保留金減值
管理層根據客戶的信貸記錄及
業務分部的現行市況釐定應收
貿易款項及保留金的減值撥
備。在評估每名客戶的應收款
項可收回性時，會進行重大判
斷。在進行判斷時，管理層會
考慮一系列因素，如跟進程序
的結果、客戶的付款趨勢（包
括期後付款）及客戶的財務狀
況。倘本集團客戶的財務狀況
轉差而削弱其付款能力，則可
能需要增加撥備。該等應收款
項能否收回的最終結果將對所
需的減值金額構成影響。
4 CRITICAL ACCOUNTING ESTIMATES AND
JUDGEMENTS (Continued)
(b) Estimated impairment of plant and equipment
The Group’s major operating assets represent
machinery and equipment. Management performs
review for impairment of the plant and equipment
whenever events or changes in circumstances
indicate that the carrying amounts of these assets
may not be recoverable.
Management considered there was no impairment
indicator of machinery and equipment during the
year as these assets were used for profitable
construction projects, and there is a strong demand
of these plant and equipment in the second hand
market.
(c) Impairment of trade and retention receivables
Managemen t de te rm ines t he p rov i s i on f o r
impairment of trade and retention receivables
based on the credit history of customers and the
current market condition by business segment.
Significant judgment is exercised on the assessment
of the col lectabi l i ty of receivables from each
customer. In making the judgment, management
considers a wide range of factors such as results
of follow-up procedures, customer payment trends
including subsequent payments and customers’
financial positions. If the financial conditions of
the customers of the Group were to deteriorate,
resulting in an impairment of their ability to make
payments, additional allowances may be required.
The final outcome of the recoverability of these
receivables will impact the amount of impairment
required.
116
ANNUAL REPORT 2017
SAM WOO CONSTRUCTION GROUP LIMITED
綜合財務報表附註
Notes to the Consolidated Financial Statements
4 重要會計估計及判斷（續）
(d) 建築合約
本集團於合約進行時檢討及修
訂為各建築合約編製的合約收
入、合約成本、變更項目及合
約索償估計。管理層根據參與
項目的主要承建商、供應商或
服務供應商不時提供的報價及
管理層的經驗編製建築成本
預算。為維持準確及最新的預
算，管理層通過比較預算金額
及實際產生金額而定期對合約
預算進行審閱。該項重大估計
可能影響於各期間確認的溢利。
本集團根據各建築工程合約的
截至結算日為止已進行工程佔
總合約價值的百分比確認合約
收入。由於根據建造合約進行
活動的性質，合約活動的訂立
日期與活動的完成日期通常屬
於不同的會計期間。本集團會
於合約進行時檢討及修訂為各
建築合約編製的合約收入、合
約成本、變更項目及合約索償
估計。管理層定期檢討合約進
度及合約收入的相應成本。
4 CRITICAL ACCOUNTING ESTIMATES AND
JUDGEMENTS (Continued)
(d) Construction contracts
The Group reviews and revises the estimates
of contract revenue, contract costs, variation
orders and contract claims prepared for each
construction contract as the contract progresses.
Budgeted construction costs are prepared by the
management on the basis of quotations from time
to time provided by the major contractors, suppliers
or vendors involved and the experience of the
management. In order to keep the budget accurate
and up-to-date, management conducts periodic
reviews of the budgets of contracts by comparing
the budgeted amounts to the actual amounts
incurred. Such significant estimate may have impact
on the profit recognised in each period.
The Group recognised i ts contract revenue
according to the percentage of work performed
to date of the individual contract of construction
works as a percentage of total contract value.
Because of the nature of the activity undertaken
in construction contracts, the date at which the
contract activity is entered into and the date when
the activity is completed usually fall into different
accounting period. The Group reviews and revised
the estimates of contract revenue, contract costs,
variation orders and contract claims prepared
for each construction contract as the contract
in progress. Management regularly reviews the
progress of the contracts and the corresponding
costs of the contract revenue.
117
三和建築集團有限公司
二零一七年年報
綜合財務報表附註
Notes to the Consolidated Financial Statements
4 重要會計估計及判斷（續）
(e) 所得稅
本集團須繳納香港及澳門所
得稅。在決定所得稅撥備時，
須作出重大判斷。有多項交易
及計算難以釐定其最終稅務結
果。本集團根據額外稅項會否
到期的估算，確認預計稅項審
計事宜的債項。若該等事宜的
最終稅項結果與初步入賬的金
額不同，則該等差異將對作出
有關釐定的期間的即期及遞延
所得稅資產及負債造成影響。
4 CRITICAL ACCOUNTING ESTIMATES AND
JUDGEMENTS (Continued)
(e) Income taxes
The Group is subject to income taxes in Hong Kong
and Macau. Significant judgement is required in
determining the provision for income taxes. There
are many transactions and calculations for which
the ultimate tax determination is uncertain. The
Group recognises liabilities for anticipated tax audit
issues based on estimates of whether additional
taxes will be due. Where the final tax outcome of
these matters is different from the amounts that
were initially recorded, such differences will impact
the current and deferred income tax assets and
liabilities in the period in which such determination is
made.
118
ANNUAL REPORT 2017
SAM WOO CONSTRUCTION GROUP LIMITED
綜合財務報表附註
Notes to the Consolidated Financial Statements
5 收入及分部資料
收入指在日常業務過程中地基工程
及附屬服務的總合約收款，亦為本
集團的營業額。確認的收入如下：
5 REVENUE AND SEGMENT INFORMATION
Revenue, which is also the Group’s turnover, represents
gross contract receipts on foundation works and ancillary
services in the ordinary course of business. Revenue
recognised is as follows:
2017 2016
HK$’000 HK$’000
千港元 千港元
Foundation works and ancillary services 地基工程及附屬服務 817,682 1,061,482
The chief operating decision-maker has been identified
as the executive directors of the Company. The executive
directors regard the Group’s business as a single
operating segment and reviews financial information
accordingly.
(a) Segment information
The Group’s revenue from external customers
attributable to the countries in which the Group
derives revenue and information about its non-
current assets, excluding deferred income tax
assets and available-for-sale financial assets, based
on both the country of domicile of companies
holding these assets and their physical location are
detailed below:
Revenue from external customers
2017 2016
HK$’000 HK$’000
千港元 千港元
Hong Kong 香港 810,683 412,590
Macau 澳門 6,999 648,892
817,682 1,061,482
本公司的執行董事被確定為其主要
營運決策人。執行董事將本集團的
業務劃分為單一經營分部，並相應
審閱財務資料。
(a) 分部資料
本集團來自外部客戶收入之國
家及非流動資產（不包括遞延
所得稅資產及可供出售金融資
產）分類為持有該等資產的公
司註冊所在國家及該等資產的
實際所處位置的資料詳列如
下：
來自外部客戶的收入
119
三和建築集團有限公司
二零一七年年報
綜合財務報表附註
Notes to the Consolidated Financial Statements
5 收入及分部資料（續）
(a) 分部資料（續）
非流動資產（不包括遞延所得
稅資產及可供出售金融資產）
根據持有該等資產的公司註冊
所在國家及資產實際所處位置：
5 REVENUE AND SEGMENT INFORMATION
(Continued)
(a) Segment information (Continued)
Non-current assets (excluding deferred income tax
assets and available-for-sale financial assets)
Based on country of domicile of companies holding
the assets and on physical location of the assets:
2017 2016
HK$’000 HK$’000
千港元 千港元
Hong Kong 香港 634,292 608,183
The machinery and equipment of the Group were
owned by Sam Woo Bore Pile Foundation Limited
(“SWBP”) and Sam Woo Engineering Equipment
Limited (“SWEE”), the country of domicile of both is
Hong Kong.
(b) Revenue derived from major customers:
There were two (2016: three) customers which
individually contributed over 10% of the Group’s
revenue for the year ended 31 March 2017. The
revenue from each of these customers amounted
to HK$401 ,107 ,000 and HK$390 ,856 ,000 ,
respectively, for the year ended 31 March 2017
(2016: HK$638,055,000, HK$156,015,000 and
HK$154,449,000).
本集團的機械及設備由三和地
基有限公司（「三和地基」）及三
和機械有限公司（「三和機械」）
擁有，而該兩間公司的本籍國
家均為香港。
(b) 來自主要客戶的收入：
截 至 2 0 1 7 年 3 月 3 1 日 止 年
度，兩名（ 2016年：三名）客
戶為本集團的收入貢獻超過
10%。來自該等客戶各自的
收入於截至2017年3月31日
止年度分別為401,107,000
港 元 及 3 9 0 , 8 5 6 , 0 0 0港 元
（ 2016年：638 ,055 ,000港
元、 1 5 6 , 0 1 5 , 0 0 0 港 元 及
154,449,000港元）。
120
ANNUAL REPORT 2017
SAM WOO CONSTRUCTION GROUP LIMITED
綜合財務報表附註
Notes to the Consolidated Financial Statements
6 其他（虧損）╱收益－淨額6 OTHER (LOSS)/INCOME, NET
2017 2016
HK$’000 HK$’000
千港元 千港元
Loss on disposal of plant
and equipment
出售機械及設備的虧損
(19) (496)
Write-off of plant and equipment 撇銷機械及設備 (1,101) (652)
Government grant 政府補助 214 477
Recovery from insurance claim 保險索償收回的金額 – 1,681
(906) 1,010
7 EXPENSES BY NATURE
2017 2016
HK$’000 HK$’000
千港元 千港元
Cost of sales 銷售成本
Construction contracts costs
(note (a))
建築合約成本（附註(a)）
638,093 811,994
Depreciation 折舊
– owned plant and equipment －自置機械及設備 22,040 26,524
– leased plant and equipment －租賃機械及設備 2,715 5,572
Repair and maintenance 維修及保養 1,107 818
Others 其他 8,502 6,562
672,457 851,470
Administrative expenses 行政開支
Staff costs, including directors’
emoluments (note (b))
員工成本（包括董事酬金）
（附註(b)） 14,055 15,672
Auditors’ remuneration 核數師酬金 1,507 1,551
Depreciation 折舊
– owned plant and equipment －自置機械及設備 513 435
Operating lease rental in respect of 以下各項的經營租賃租金
– office and storage premises －辦公室及倉庫物業 8,334 5,253
– directors’ quarters (note 29(a)) －董事宿舍（附註29(a)） 2,167 2,167
Professional fees 專業費用 10,518 1,442
Motor vehicle expenses 汽車開支 2,262 1,735
Bank charges 銀行開支 961 629
Others 其他 5,134 7,771
45,451 36,655
Total cost of sales and
administrative expenses
銷售成本及行政開支總額
717,908 888,125
7 按性質劃分的開支
121
三和建築集團有限公司
二零一七年年報
綜合財務報表附註
Notes to the Consolidated Financial Statements
7 按性質劃分的開支（續）
附註：
(a) 建築合約成本包括但不限於建築
材料成本、員工成本（參見下文
附註(b)）、顧問費用、零件及消
耗品、分包費用及運輸費用。
7 EXPENSES BY NATURE (Continued)
notes:
(a) Construction contract costs included but are not limited
to costs of construction materials, staff costs (refer to
note (b) below), consultancy fee, parts and consumables,
subcontracting charges and transportation.
(b) 2017 2016
HK$’000 HK$’000
千港元 千港元
Wages and salaries 工資及薪金 120,939 167,701
Pension costs – defined
contribution plans (note)
退休金成本－定額供款計劃
（附註） 3,924 3,203
Employment benefits 僱員福利 1,046 2,183
125,909 173,087
Less: amount included in construction
contracts costs or capitalised
in work-in-progress
減：計入建築合約成本或
在建工程資本化金額
(111,854) (157,415)
14,055 15,672
The Group participates in a Mandatory Provident Fund
scheme (the “MPF Scheme”) in accordance with the
Mandatory Provident Fund Scheme Ordinance of Hong
Kong. Under the rules of the MPF Scheme, the employer
and its employees in Hong Kong are each required to
contribute 5% of the employees’ gross earnings with a
ceiling of HK$1,500 per month to the MPF Scheme.
The Group also participates in an employee social security
plan (the “Social Security Plan”) and contributes a fixed
amount for each employee as required by the regulations
in Macau.
The only obligation of the Group with respect to the MPF
Scheme and the Social Security Plan is to make the
required contributions under the scheme.
本集團根據香港《強制性公積金
計劃條例》參與於強制性公積金
計劃（「強積金計劃」）。根據強積
金計劃的規則，香港僱主及其僱
員須各自按僱員總收入的5%向
強積金計劃作出供款，每月上限
為1,500港元。
本集團亦按澳門法規規定為每名
僱員參與僱員社會保障計劃（「社
會保障計劃」），並作出固定金額
供款。
本集團就強積金計劃及社會保障
計劃的唯一責任是根據有關計劃
作出規定的供款。
122
ANNUAL REPORT 2017
SAM WOO CONSTRUCTION GROUP LIMITED
綜合財務報表附註
Notes to the Consolidated Financial Statements
7 按性質劃分的開支（續）
附註：（續）
(c) 五名最高薪人士
截至2017年3月31日止年度，本
集團五名最高薪人士分別包括三
名（2016年：三名）董事，彼等的
酬金於附註29(a)的分析中呈列。
向其餘兩名（2016年：兩名）人士
支付的酬金如下：
7 EXPENSES BY NATURE (Continued)
notes: (Continued)
(c) Five highest paid individuals
For the year ended 31 March 2017, the five individuals
whose emoluments were the highest in the Group include
three directors (2016: three) whose emoluments were
reflected in the analysis presented in note 29(a). The
emoluments paid to the remaining two individuals (2016:
two) are as follows:
2017 2016
HK$’000 HK$’000
千港元 千港元
Salaries, other allowances and
benefits in kind
薪金、其他津貼及實物福利
2,376 3,316
Bonus 花紅 182 248
Pension costs – defined
contribution plans
退休金成本－定額供款計劃
38 107
2,596 3,671
The emoluments of these individuals fel l within the
following bands:
Number of individuals
人數
2017 2016
HK$’000 HK$’000
千港元 千港元
Less than HK$1,500,000 1,500,000港元以下 2 –
HK$1,500,001 – HK$2,000,000 1,500,001港元至2,000,000港元 – 1
HK$2,000,001 – HK$2,500,000 2,000,001港元至2,500,000港元 – 1
2 2
No emolument was paid by the Group to any of the
directors or the five highest paid individuals as an
inducement to join or upon joining the Group or as
compensation for the loss of office.
該等人士的酬金介乎以下範圍：
本集團概無向任何董事或五名最
高薪人士支付任何酬金作為加入
本集團或加入本集團時的獎勵或
離職補償。
123
三和建築集團有限公司
二零一七年年報
綜合財務報表附註
Notes to the Consolidated Financial Statements
8 財務收入及成本8 FINANCE INCOME AND COSTS
2017 2016
HK$’000 HK$’000
千港元 千港元
Finance income 財務收入
– Interest income on bank deposits －銀行存款的利息收入 2,677 2,816
Finance costs 財務費用
– Interest expense on bank loans －銀行貸款利息開支 (6,173) (7,153)
– Interest expense on obligations
under finance leases
－融資租賃責任的利息開支
(3,852) (4,087)
– Interest expense on amount
due to a director (note 26(b))
－應付一名董事款項的利息
開支（附註26(b)） (305) (434)
(10,330) (11,674)
Finance costs, net 財務費用－淨額 (7,653) (8,858)
124
ANNUAL REPORT 2017
SAM WOO CONSTRUCTION GROUP LIMITED
綜合財務報表附註
Notes to the Consolidated Financial Statements
9 所得稅開支
於綜合全面收益表支銷的所得稅金
額指：
9 INCOME TAX EXPENSE
The amount of income tax charged to the consolidated
statement of comprehensive income represents:
2017 2016
HK$’000 HK$’000
千港元 千港元
Hong Kong profits tax 香港利得稅
Current income tax 即期所得稅 3,054 8,070
Under/(over)-provision of current
income tax in prior year
去年即期所得稅的撥備
不足╱（超額撥備） 25 (63)
Deferred income tax (note 19) 遞延所得稅（附註19） 8,885 2,066
Macau profits tax 澳門所得補充稅
Current income tax 即期所得稅 – 2,559
Under-provision of current
income tax in prior year
去年即期所得稅的
撥備不足 271 –
12,235 12,632
Hong Kong profits tax and Macau complementary tax
have been provided at the rate of % and 12%,
respectively, on the estimated assessable profit for the
year ended 31 March 2017 (2016: same).
截至2017年3月31日止年度，已就
估計應課稅溢利分別按%及12%
稅率計提香港利得稅及澳門所得補
充稅撥備（2016年：相同）。
125
三和建築集團有限公司
二零一七年年報
綜合財務報表附註
Notes to the Consolidated Financial Statements
9 所得稅開支（續）
本集團除所得稅前溢利的稅額與採
用香港稅率計算的理論稅額的差異
如下：
9 INCOME TAX EXPENSE (Continued)
The tax on the Group’s profit before income tax differs
from the theoretical amount that would arise using the tax
rate of Hong Kong as follows:
2017 2016
HK$’000 HK$’000
千港元 千港元
Profit before income tax 除所得稅前溢利 91,215 165,509
Calculated at tax rate of % 按%的稅率計算的稅項 15,050 27,309
Tax effects of: 以下各項的稅務影響：
Tax rates of overseas operation 海外業務的稅率 86 (2,199)
Income not subject to tax 毋須課稅收入 (3,618) (19,634)
Expenses not deductible for
tax purposes
不可扣稅開支
6 7,271
Tax losses for which no deferred
income tax asset was recognised
並無確認遞延所得稅資產的
稅項虧損 455 2
Under/(over)-provision of income
tax in prior year
去年所得稅的撥備不足╱
（超額撥備） 296 (63)
Tax concessions 稅項減免 (40) (54)
Income tax expense 所得稅開支 12,235 12,632
126
ANNUAL REPORT 2017
SAM WOO CONSTRUCTION GROUP LIMITED
綜合財務報表附註
Notes to the Consolidated Financial Statements
10 股息10 DIVIDENDS
2017 2016
HK$’000 HK$’000
千港元 千港元
Interim dividend of cents
(2016: HK5 cents) per ordinary
share declared and paid (note (a))
已宣派及派付的中期股息
每股普通股港仙
（2016年：5港仙）
（附註(a)） 8,400 21,000
Final dividend of cent
(2016: HK cents) per
ordinary share (note (b))
末期股息每股普通股港仙
（2016年：港仙）
（附註(b)） 16,800 29,400
25,200 50,400
notes:
(a) On 29 November 2016, the Board resolved to declare an
interim dividend of cents per shares for the year
(2016: HK 5 cents).
(b) A dividend in respect of the year ended 31 March
2017 of HK cent (2016: HK cents) per share,
amounting to a total dividend of HK$16,800,000 (2016:
HK$29,400,000), will be proposed at the forthcoming
annual general meeting.
附註：
(a) 於2016年11月29日，董事會議
決就本年度宣派中期股息每股
港仙（2016年：5港仙）。
(b) 於應屆股東週年大會上將就截
至2017年3月31日止年度建議
派發股息每股港仙（ 2016
年：港仙），合共股息總
額16,800,000港元（ 2016年：
29,400,000港元）。
127
三和建築集團有限公司
二零一七年年報
綜合財務報表附註
Notes to the Consolidated Financial Statements
11 每股盈利
(a) 基本
每股基本盈利乃根據本公司權
益持有人應佔溢利除以相關年
度已發行普通股加權平均數計
算。用於計算普通股的加權平
均數已為反映2015年12月23
日起生效的股份拆細而作出追
溯調整。
11 EARNINGS PER SHARE
(a) Basic
Basic earnings per share is calculated by dividing
the profit attributable to equity holders of the
Company by the weighted average number of
ordinary shares in issue during the respective years.
The weighted average number of ordinary shares
used for such purpose has been retrospectively
adjusted to reflect the share subdivision with effect
from 23 December 2015.
2017 2016
Profit attributable to equity
holders of the Company
(HK$’000)
本公司權益持有人
應佔溢利（千港元）
78,980 152,877
Weighted average number of
ordinary shares for the purpose
of calculating basic earnings
per share (thousands)
計算每股基本盈利的普通股
加權平均數（千股）
1,680,000 1,656,612
Basic earnings per share (HK cents) 每股基本盈利（港仙）
(b) Diluted
Diluted earnings per share is of the same amount
as the basic earnings per share as there were no
potential dilutive ordinary shares outstanding at the
year end (2016: same).
(b) 攤薄
每股攤薄盈利與每股基本盈利
相同（2016年：相同），此乃由
於年末並無未行使的潛在攤薄
普通股。
128
ANNUAL REPORT 2017
SAM WOO CONSTRUCTION GROUP LIMITED
綜合財務報表附註
Notes to the Consolidated Financial Statements
12 附屬公司
以下為於2017年3月31日的附屬公
司名單：
12 SUBSIDIARIES
The following is a list of the subsidiaries at 31 March
2017:
Name
Place of
incorporation
Issued and
fully paid
share capital
Effective interest
held as at
Principal activities and
place of operation
名稱 註冊成立地點 已發行及繳足股本 所持實際權益 主營業務及營運地點
2017 2016
Directly held by the Company:
由本公司直接持有：
Sam Woo Group Limited British Virgin Islands US$10,000 100% 100% Investment holding
英屬處女群島 10,000美元 投資控股
Capital Plus Group Limited British Virgin Islands US$2 100% – Investment holding
英屬處女群島 2美元 投資控股
Indirectly held by the Company:
由本公司間接持有：
Sam Woo Bore Pile
Foundation Limited
Hong Kong HK$10,000,000 100% 100% Foundation works and ancillary
services in Hong Kong
三和地基有限公司 香港 10,000,000港元 於香港進行地基工程及
提供附屬服務
Sam Woo Construction &
Engineering Limited
Hong Kong HK$100,000 100% 100% Trading of and leasing of
machinery and equipment in
Hong Kong
三和建設機械有限公司 香港 100,000港元 於香港買賣及租賃機械及設備
129
三和建築集團有限公司
二零一七年年報
綜合財務報表附註
Notes to the Consolidated Financial Statements
12 附屬公司（續）
以下為於2017年3月31日的附屬公
司名單：（續）
12 SUBSIDIARIES (Continued)
The following is a list of the subsidiaries at 31 March
2017: (Continued)
Name
Place of
incorporation
Issued and
fully paid
share capital
Effective interest
held as at
Principal activities and
place of operation
名稱 註冊成立地點 已發行及繳足股本 所持實際權益 主營業務及營運地點
2017 2016
Indirectly held by the Company
(Continued):
由本公司直接持有：（續）
Sam Woo Engineering
Equipment Limited
Hong Kong HK$500,000 100% 100% Leasing of machinery and
equipment in Hong Kong
三和機械有限公司 香港 500,000港元 於香港租賃機械及設備
Sam Woo Foundation Limited Macau MOP30,000 100% 100% Foundation works and ancillary
services in Macau
Sam Woo地基有限公司 澳門 澳門幣30,000 於澳門進行地基工程及
提供附屬服務
Sam Woo Construction Limited Hong Kong HK$10,000 100% 100% Foundation works and ancillary
services in Hong Kong
三和營造有限公司 香港 10,000港元 於香港進行地基工程及
提供附屬服務
Sam Woo Civil Contractors
Limited
Hong Kong HK$10,000 100% 100% Inactive
三和土木工程有限公司 香港 10,000港元 暫無營業
Sam Woo Civil Works Limited Hong Kong HK$2 100% 100% Inactive
三和土木有限公司 香港 2港元 暫無營業
130
ANNUAL REPORT 2017
SAM WOO CONSTRUCTION GROUP LIMITED
綜合財務報表附註
Notes to the Consolidated Financial Statements
12 附屬公司（續）
以下為於2017年3月31日的附屬公
司名單：（續）
12 SUBSIDIARIES (Continued)
The following is a list of the subsidiaries at 31 March
2017: (Continued)
Name
Place of
incorporation
Issued and
fully paid
share capital
Effective interest
held as at
Principal activities and
place of operation
名稱 註冊成立地點 已發行及繳足股本 所持實際權益 主營業務及營運地點
2017 2016
Indirectly held by the Company
(Continued):
由本公司直接持有：（續）
Sam Woo Foundation Limited Hong Kong HK$2 100% 100% Foundation works and ancillary
services in Hong Kong
三和地基工程有限公司 香港 2港元 於香港進行地基工程及
提供附屬服務
Sam Woo Finance Limited Hong Kong HK$2 100% 100% Provision of financial services to
group companies
三和財務有限公司 香港 2港元 向集團公司提供金融服務
Sam Woo Offshore Engineering
Limited
Hong Kong HK$1 100% 100% Inactive
三和海洋工程有限公司 香港 1港元 暫無業務
Sam Woo Asia Development Group
Limited (formerly known as SW
AA Construction Group Limited)
Hong Kong HK$1 100% 100% Inactive
三和亞洲發展集團有限公司
（前稱三和亞洲建築集團有限公司）
香港 1港元 暫無業務
Sam Woo Foundation Group Limited Hong Kong HK$1 100% 100% Inactive
三和地基集團有限公司 香港 1港元 暫無業務
Redland Contractors Limited Hong Kong HK$2 100% 100% Foundation works and ancillary
services in Hong Kong
中威營造有限公司 香港 2港元 於香港進行地基工程及
提供附屬服務
131
三和建築集團有限公司
二零一七年年報
綜合財務報表附註
Notes to the Consolidated Financial Statements
13 PLANT AND EqUIPMENT
Machinery
and
equipment
Furniture
and fixtures
Motor
vehicles Total
機械及設備 傢俬及裝置 汽車 總計
HK$’000 HK$’000 HK$’000 HK$’000
千港元 千港元 千港元 千港元
At 31 March 2015 於2015年3月31日
Cost 成本 661,409 1,629 8,409 671,447
Accumulated depreciation 累計折舊 (154,802) (1,207) (6,193) (162,202)
Net book amount 賬面淨值 506,607 422 2,216 509,245
Year ended 31 March 2016 截至2016年3月31日止年度
Opening net book amount 年初賬面淨值 506,607 422 2,216 509,245
Additions 添置 129,491 102 757 130,350
Write-off 撇銷 (652) – – (652)
Disposals 出售 (846) – – (846)
Depreciation 折舊 (31,748) (140) (643) (32,531)
Closing net book amount 年終賬面淨值 602,852 384 2,330 605,566
At 31 March 2016 於2016年3月31日
Cost 成本 787,926 1,663 9,010 798,599
Accumulated depreciation 累計折舊 (185,074) (1,279) (6,680) (193,033)
Net book amount 賬面淨值 602,852 384 2,330 605,566
Year ended 31 March 2017 截至2017年3月31日止年度
Opening net book amount 年初賬面淨值 602,852 384 2,330 605,566
Additions 添置 53,178 133 1,066 54,377
Written-off 撇銷 (1,101) – – (1,101)
Disposals 出售 – – (47) (47)
Depreciation 折舊 (24,311) (155) (802) (25,268)
Closing net book amount 年終賬面淨值 630,618 362 2,547 633,527
At 31 March 2017 於2017年3月31日
Cost 成本 836,934 1,796 8,776 847,506
Accumulated depreciation 累計折舊 (206,316) (1,434) (6,229) (213,979)
Net book amount 賬面淨值 630,618 362 2,547 633,527
13 機械及設備
132
ANNUAL REPORT 2017
SAM WOO CONSTRUCTION GROUP LIMITED
綜合財務報表附註
Notes to the Consolidated Financial Statements
13 PLANT AND EqUIPMENT (Continued)
(a) The net book amount of plant and equipment held
under finance lease obligations comprises (note
22(e)):
2017 2016
HK$’000 HK$’000
千港元 千港元
Cost – Capitalised finance leases 成本－已撥充資本的
融資租賃 130,964 221,989
Accumulated depreciation 累計折舊 (7,164) (11,943)
Net book amount 賬面淨值 123,800 210,046
(b) As at 31 March 2017, plant and equipment
a m o u n t i n g t o H K $ 1 2 3 , 2 3 3 , 0 0 0 ( 2 0 1 6 :
HK$138,768,000) were secured for the Group’s
bank borrowings (note 22(f)(iii)).
13 機械及設備（續）
(a) 根據融資租賃責任持有的機械
及設備的賬面淨值包括（附註
22(e)）：
(b) 於2017年3月31日，金額為
123,233,000港元（2016年：
138,768,000港元）的機械及設
備用作本集團銀行貸款的抵押
（附註22(f)(iii)）。
133
三和建築集團有限公司
二零一七年年報
綜合財務報表附註
Notes to the Consolidated Financial Statements
14 可供出售金融資產14 AVAILABLE-FOR-SALE FINANCIAL ASSETS
HK$’000
千港元
At 31 March 2016 and 1 April 2016 於2016年3月31日及
2016年4月1日 –
Additions 添置 19,750
At 31 March 2017 於2017年3月31日 19,750
Available-for-sale financial assets are unlisted equity
securities in Hong Kong.
On 29 March 2017, the Group acquired 5% of issued
capital of Gold Champion Enterprises Limited (“Gold
Champion”) . The acquis i t ion is accounted for as
available-for-sale financial assets (note 26(b)(iv)). Gold
Champion is principally engaged in investment properties
holding.
None of the financial assets is impaired.
The management considered the fair value of the unlisted
securities approximated 5% of the net of the identifiable
assets acquired and the liabilities assumed, which mainly
represented the fair values of its investment properties.
These investment properties which are situated in Hong
Kong are valued by an independent valuer with reference
to transactions in the market with properties in similar
classes and locations.
The fair values of available-for-sale financial assets are
within level 3 of the fair value hierarchy (see note ).
可供出售金融資產為於香港之非上
市股本證券。
於2017年3月29日，本集團收購
Gold Champion Enterprises Limited
（「Gold Champion」）已發行股本
5%。收購以可供出售金融資產（附
註26(b)(iv)）入賬。Gold Champion
主要從事投資物業控股。
概無金融資產出現減值。
管理層認為，非上市證券之公平值
約佔所收購可識別資產及所承擔負
債之淨額5%，主要指其投資物業之
公平值。該等投資物業位於香港，
乃經考慮同類及類似地點物業之成
交個案後由獨立估值師進行估值。
可供出售金融資產之公平值屬於公
平值層級之第三級（見附註）。
134
ANNUAL REPORT 2017
SAM WOO CONSTRUCTION GROUP LIMITED
綜合財務報表附註
Notes to the Consolidated Financial Statements
15 應收貿易款項及保留金，以及按
金、預付款項及其他應收款項
15 TRADE AND RETENTION RECEIVABLES,
AND DEPOSITS, PREPAYMENTS AND OTHER
RECEIVABLES
2017 2016
HK$’000 HK$’000
千港元 千港元
Trade receivables 應收貿易款項 105,331 203,833
Retention receivables 應收保留金 52,119 92,121
Trade and retention receivables 應收貿易款項及保留金 157,450 295,954
Deposits, prepayments and other
receivables (note)
按金、預付款項及其他
應收款項（附註） 6,991 3,209
Less: non-current portion 減︰非即期部分 (765) (2,617)
Current portion 即期部分 6,226 592
note: The balance mainly represents rental deposit, prepayment
for sub-contractor fee, prepayment for p lant and
equipment and other miscellaneous prepayments.
The credit period granted to trade customers other than
for retention receivables was within 45 days. The terms
and conditions in relation to the release of retention
vary from contract to contract, which may be subject
to practical completion, the expiry of the defect liability
period or a pre-agreed time period. The Group does not
hold any collateral as security.
The ageing analysis of the trade receivables based on
invoice date was as follows:
2017 2016
HK$’000 HK$’000
千港元 千港元
1 to 30 days 1至30日 59,606 147,822
31 to 60 days 31至60日 45,725 56,011
Total 總計 105,331 203,833
附註： 該結餘主要為租金按金、分包
費預付款項、機械及設備的預
付款項以及其他雜項預付款項。
除應收保留金外，貿易客戶獲授45
天以內的信貸期。退回保留金的條
款及條件因應各合約而有所不同，
可能須待實際竣工、缺陷責任期或
預先約定的期間屆滿後方會解除。
本集團並無持有任何抵押品作為抵
押。
應收貿易款項根據發票日期作出的
賬齡分析如下：
135
三和建築集團有限公司
二零一七年年報
綜合財務報表附註
Notes to the Consolidated Financial Statements
15 應收貿易款項及保留金，以及按
金、預 付 款 項 及 其 他 應 收 款 項
（續）
於綜合資產負債表內，應收保留金
分類為流動資產。應收保留金根據
發票日期的賬齡如下：
15 TRADE AND RETENTION RECEIVABLES,
AND DEPOSITS, PREPAYMENTS AND OTHER
RECEIVABLES (Continued)
In the consolidated balance sheet, retention receivables
were classified as current assets. The ageing of the
retention receivables based on invoice date was as
follows:
2017 2016
HK$’000 HK$’000
千港元 千港元
Within 1 year 一年內 10,058 52,189
Between 1 and 5 years 一至五年 41,221 39,485
More than 5 years 超過五年 840 447
52,119 92,121
As at 31 March 2017, retention receivables included
a balance of HK$10,134,000 with a customer. On 13
February 2017, a subsidiary of the Company has filed a
civil procedure in Macau court against this customer to
recover the retention receivables. The litigation is still in
progress as at 31 March 2017. Taking into consideration
the advice from its legal representative, the directors
consider that the Group is fully entitled to payment to
cover at least the balance on book.
As at 31 March 2017, there were no trade and retention
receivables which were past due (2016: Nil).
The carrying amounts of trade and retention receivables
approximated their fair values and were denominated in
the following currencies:
2017 2016
HK$’000 HK$’000
千港元 千港元
HK$ 港元 125,651 219,792
MOP 澳門幣 31,799 76,162
157,450 295,954
As at 31 March 2017, there was no impairment in trade,
retention or other receivables (2016: Nil).
於2017年3月31日，應收保留金包
括與一名客戶的結餘10,134,000港
元。於2017年2月13日，本公司附
屬公司針對此客戶收回應收保留金
向澳門法院提出民事法律程序。於
2017年3月31日，該訴訟仍在進行
中。經考慮其法律代表的意見，董
事認為，本集團有全權獲得至少可
涵蓋賬冊上所示結餘的付款。
於2017年3月31日，並無已逾期的
應收貿易款項及保留金（2016年：
無）。
應收貿易款項及保留金的賬面值與
其公平值相若，並以下列貨幣計值：
於2017年3月31日，應收貿易、保
留金或其他應收款項並無減值（2016
年：無）。
136
ANNUAL REPORT 2017
SAM WOO CONSTRUCTION GROUP LIMITED
綜合財務報表附註
Notes to the Consolidated Financial Statements
16 在建合約工程16 CONTRACTING WORK-IN-PROGRESS
2017 2016
HK$’000 HK$’000
千港元 千港元
Contract costs incurred plus
attributable profits less
foreseeable losses to date
截至該日所產生的合約成本
加應佔溢利減可預見虧損
1,169,814 1,148,288
Progress billings to date 截至該日的進度付款 (1,233,907) (1,148,398)
(64,093) (110)
Included in current assets/(liabilities)
are the following:
計入流動資產╱（負債）的
金額如下：
Due from customers for contract work 應收客戶合約工程金額 18,614 28,562
Due to customers for contract work 應付客戶合約工程金額 (82,707) (28,672)
(64,093) (110)
As at 31 March 2017, amounts due from customers
for contract work included a balance of HK$9,374,000
(2016: HK$9,374,000) not yet certified by a customer.
On 14 November 2013, a subsidiary of the Company
served a notice of arbitration to this customer to settle
the dispute on the final payment of the contract. The
arbitration is still in progress as at 31 March 2017. Taking
into consideration the advice from its legal representative,
the directors consider that the Group is fully entitled to
payment to cover at least the balance on book.
於2017年3月31日，應收客戶合約
工程金額包括一名客戶尚未核實
的結餘9,374,000港元（ 2016年：
9,374,000港元）。於2013年11月14
日，本公司附屬公司向該名客戶發
出仲裁通知，藉此解決有關合約最
終付款的糾紛。該仲裁於2017年3月
31日仍在進行中。經考慮其法律代
表的意見，董事認為本集團有全權
獲得至少可涵蓋賬冊上所示結餘的
付款。
137
三和建築集團有限公司
二零一七年年報
綜合財務報表附註
Notes to the Consolidated Financial Statements
16 在建合約工程（續）
於2014年9月25日，就本公司於香
港聯合交易所有限公司主板上市簽
訂一份彌償契據（「彌償契據」），據
此，本公司董事劉振明先生不可撤
回及無條件承諾，倘本集團未能收
回有關款項9,374,000港元，彼將應
本集團要求全額支付有關金額或差
額（如有）。
17 現金及現金等價物
16 CONTRACTING WORK-IN-PROGRESS (Continued)
In connection with the listing of the Company on the Main
Board of The Stock Exchange of Hong Kong Limited, a
deed of indemnity (the “Deed of Indemnity”) was signed
on 25 September 2014, pursuant to which Mr. Lau Chun
Ming, a director of the Company, irrecoverably and
unconditionally undertakes to pay up the entire sum or
the shortfall, if any, on demand by the Group if the Group
fails to recover such amount of HK$9,374,000.
17 CASH AND CASH EqUIVALENTS
2017 2016
HK$’000 HK$’000
千港元 千港元
Cash at bank 銀行現金 347,899 183,010
Cash on hand 手頭現金 44 50
Cash and cash equivalents 現金及現金等價物 347,943 183,060
Restricted bank balances 受限制銀行結餘 20,864 20,559
Short-term bank deposits 短期銀行存款 – 17,797
Maximum exposure to credit risk 所承擔的最高信貸風險 368,763 221,366
note: As at 31 March 2017, the restricted bank balance
rep resen ts a depos i t o f HK$20 ,864 ,000 (2016 :
HK$20,559,000) placed by a director (note 21).
附註︰ 於2017年3月31日，受限制銀
行結餘代表20,864,000港元
（2016年：20,559,000港元）
由一名董事存入的按金（附註
21）。
138
ANNUAL REPORT 2017
SAM WOO CONSTRUCTION GROUP LIMITED
綜合財務報表附註
Notes to the Consolidated Financial Statements
17 現金及現金等價物（續）
就綜合現金流量表而言，現金及現
金等價物包括以下各項：
17 CASH AND CASH EqUIVALENTS (Continued)
Cash and cash equivalents include the following for the
purpose of the consolidated statement of cash flows:
2017 2016
HK$’000 HK$’000
千港元 千港元
Cash and cash equivalents 現金及現金等價物 347,943 183,060
Bank overdraft (note 22) 銀行透支（附註22） – (3)
347,943 183,057
The carrying amounts of cash and cash equivalents,
restricted bank balances and short-term bank deposit
were denominated in the following currencies:
2017 2016
HK$’000 HK$’000
千港元 千港元
HK$ 港元 352,885 166,663
MOP 澳門幣 15,418 54,708
Others 其他 504 45
368,807 221,416
現金及現金等價物、受限制銀行結
餘以及短期銀行存款的賬面值以下
列貨幣計值：
139
三和建築集團有限公司
二零一七年年報
綜合財務報表附註
Notes to the Consolidated Financial Statements
18 股本、股份溢價及儲備
(a) 股本
18 SHARE CAPITAL, SHARE PREMIUM AND
RESERVES
(a) Share capital
Number of
shares HK$
股份數目 港元
Ordinary Shares, authorised: 普通股（法定）：
At 1 April 2015 於2015年4月1日 1,000,000,000 10,000,000
Effect of shares subdivision (note ii) 股份拆細的影響（附註ii） 3,000,000,000 –
At 31 March 2016, 1 April 2016
and 31 March 2017
於2016年3月31日、2016年4月1日及
2017年3月31日 4,000,000,000 10,000,000
Ordinary shares, issued and fully paid: 普通股（已發行及繳足）：
At 1 April 2015 於2015年4月1日 400,000,000 4,000,000
Shares issued under the placing (note i) 根據配售已發行股份（附註i） 20,000,000 200,000
Effect of shares subdivision (note ii) 股份拆細的影響（附註ii） 1,260,000,000 –
At 31 March 2016, 1 April 2016 and
31 March 2017
於2016年3月31日、2016年4月1日及
2017年3月31日 1,680,000,000 4,200,000
notes:
(i) On 17 July 2015, the Company allotted and issued
20,000,000 shares by way of placing at HK$
each. Proceeds of approximately HK$60,200,000
were received and the related transaction costs
of approximately HK$1,806,000 were netted off
with the proceeds. These shares rank pari passu
in all respect with the then existing shares in issue.
The excess over the par value of the shares were
credited to the share premium account.
(ii) With effective from 23 December 2015, each
share of the Company of HK$ per share was
subdivided into 4 shares of HK$ per share.
The number of share capital increased accordingly.
Share capital is therefore presented on a post share
subdivision basis.
附註：
(i) 於2015年7月17日，本公
司以配售方式按每股
港元之價格配發及發行
20,000,000股股份。已收
取所得款項約60,200,000
港元，而相關交易成本約
1,806,000港元已經與所得
款項對銷。該等股份在各
方面與當時的現有已發行
股份享有同等地位。超出
股份面值之數乃計入股份
溢價賬。
(ii) 由2015年12月23日起，本
公司每股面值 港元之
股份乃拆細為4股每股面值
港元之股份。股本
數目已相應增加。因此按
股份拆細後基準呈列股本。
140
ANNUAL REPORT 2017
SAM WOO CONSTRUCTION GROUP LIMITED
綜合財務報表附註
Notes to the Consolidated Financial Statements
18 股本、股份溢價及儲備（續）
(b) 股份溢價及儲備
18 SHARE CAPITAL, SHARE PREMIUM AND
RESERVES (Continued)
(b) Share premium and reserves
Share
premium
Other
reserves
Retained
earnings Total
股份溢價 其他儲備 保留盈利 總計
HK$’000 HK$’000 HK$’000 HK$’000
千港元 千港元 千港元 千港元
At 31 March 2015 於2015年3月31日 135,893 10,500 377,387 523,780
Profit for the year 本年度溢利 – – 152,877 152,877
Issuance of placement shares
(note 18(a)(i))
發行配售股份（附註18(a)(i)）
58,194 – – 58,194
Final dividends relating to the year
ended 31 March 2015
有關截至2015年3月31日
止年度的末期股息 – – (63,000) (63,000)
Interim dividend relating to the year
ended 31 March 2016
有關截至2016年3月31日
止年度的中期股息 – – (21,000) (21,000)
At 31 March 2016 於2016年3月31日 194,087 10,500 446,264 650,851
Profit for the year 本年度溢利 – – 78,980 78,980
Final dividends relating to the year
ended 31 March 2016
有關截至2016年3月31日
止年度的末期股息 – – (29,400) (29,400)
Interim dividend relating to the year
ended 31 March 2017
有關截至2017年3月31日
止年度的中期股息 – – (8,400) (8,400)
At 31 March 2017 於2017年3月31日 194,087 10,500 487,444 692,031
note:
Other reserves of the Group represented the difference
between the share capital of the subsidiaries acquired
pursuant to the Reorganisation over the nominal value
of the share capital of the Company issued in exchange
thereof and the difference between the aggregation of the
nominal value of the share capital of SWBP and SWEE
acquired over the nominal value of the share capital of
SW (BVI) issued in exchange thereof pursuant to the
reorganisation completed in 2003.
附註：
本集團的其他儲備指根據重組所
收購的附屬公司的股本高於為換
取有關股本所發行本公司股本面
值的差額，以及拫據於2003年完
成的重組所收購的三和地基與三
和機械的股本面值總和，高於為
換取有關股本而發行的三和(BVI)
股本面值的差額。
141
三和建築集團有限公司
二零一七年年報
綜合財務報表附註
Notes to the Consolidated Financial Statements
19 遞延所得稅
遞延稅項資產及遞延稅項負債分析
如下：
19 DEFERRED INCOME TAX
The analysis of deferred tax assets and deferred tax
liabilities were as follows:
2017 2016
HK$’000 HK$’000
千港元 千港元
Deferred income tax asset: 遞延所得稅資產︰
Recoverable after more
than 12 months
於12個月後收回
917 131
Deferred income tax liabilities: 遞延所得稅負債︰
Payable or to be settled more
than 12 months
於12個月後應付或結清
(53,453) (42,045)
Payable or to be settled
within 12 months
於12個月內應付或結清
– (1,737)
Deferred income tax liabilities, net 遞延所得稅負債－淨額 (52,536) (43,651)
The movement on the deferred income tax account was
as follows:
2017 2016
HK$’000 HK$’000
千港元 千港元
At beginning of the year 於年初 (43,651) (41,585)
Recognised in the consolidated
statement of comprehensive income
(note 9)
於綜合全面收益表內確認
（附註 9）
(8,885) (2,066)
At end of the year 於年終 (52,536) (43,651)
遞延所得稅賬目變動如下：
142
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綜合財務報表附註
Notes to the Consolidated Financial Statements
19 遞延所得稅（續）
遞延所得稅負債
19 DEFERRED INCOME TAX (Continued)
Deferred income tax liabilities
Unrealised
profit
Accelerated
tax
depreciation Total
未實現溢利 加速稅項折舊 總計
HK$’000 HK$’000 HK$’000
千港元 千港元 千港元
At 1 April 2015 於2015年4月1日 – 68,200 68,200
Recognised in the consolidated
statement of comprehensive income
於綜合全面收益表內確認
1,737 12,641 14,378
Offset against deferred income
tax assets
與遞延所得稅資產抵銷
(37) – (37)
At 31 March 2016 於2016年3月31日 1,700 80,841 82,541
Recognised in the consolidated
statement of comprehensive income
於綜合全面收益表內確認
– 11,372 11,372
Offset against deferred income
tax assets
與遞延所得稅資產抵銷
(1,700) – (1,700)
At 31 March 2017 於2017年3月31日 – 92,213 92,213
Deferred income tax assets
Unrealised
profit Tax losses Total
未實現溢利 稅項虧損 總計
HK$’000 HK$’000 HK$’000
千港元 千港元 千港元
At 1 April 2015 於2015年4月1日 37 26,578 26,615
Recognised in the consolidated
statement of comprehensive income
於綜合全面收益表內確認
– 12,312 12,312
Offset against deferred income tax liabilities 與遞延所得稅負債抵銷 (37) – (37)
At 31 March 2016 於2016年3月31日 – 38,890 38,890
Recognised in the consolidated
statement of comprehensive income
於綜合全面收益表內確認
2,617 (130) 2,487
Offset against deferred income tax liabilities 與遞延所得稅負債抵銷 (1,700) – (1,700)
At 31 March 2017 於2017年3月31日 917 38,760 39,677
遞延所得稅資產
143
三和建築集團有限公司
二零一七年年報
綜合財務報表附註
Notes to the Consolidated Financial Statements
19 遞延所得稅（續）
遞延所得稅資產（續）
遞延所得稅資產及負債於有可依法
強制執行權利將即期所得稅資產與
即期所得稅負債對銷，且遞延所得
稅與同一稅務司法權區相關時予以
抵銷。於資產負債表中載列的金額
（於作出適當對銷後釐定）如下︰
19 DEFERRED INCOME TAX (Continued)
Deferred income tax assets (Continued)
Deferred income tax assets and liabilities are offset when
there is a legally enforceable right to set off current
income tax assets against current income tax liabilities
and when the deferred income taxes relate to the same
tax jurisdiction. The following amounts, determined after
appropriate offsetting, are shown in the balance sheet.
2017 2016
HK$’000 HK$’000
千港元 千港元
Deferred income tax liabilities 遞延所得稅負債 (53,453) (43,782)
Deferred income tax assets 遞延所得稅資產 917 131
(52,536) (43,651)
Deferred income tax assets are recognised for tax losses
carried forward to the extent that realisation of the related
tax benefit through future taxable profits is probable.
As at 31 March 2017, the Group had unrecognised
tax losses of approximately HK$5,624,000 (2016:
HK$2,129,000) that can be carried forward to offset
against future taxable income. These tax losses have no
expiry date.
倘有相關稅務利益可透過未來應課
稅溢利變現，則可就所結轉的稅項
虧損確認遞延所得稅資產。於2017
年3月31日，本集團的未獲確認稅
項虧損約5,624,000港元（2016年：
2,129,000港元），該等金額可結轉
用作抵銷未來應課稅收入。該等稅
項虧損並無到期日。
144
ANNUAL REPORT 2017
SAM WOO CONSTRUCTION GROUP LIMITED
綜合財務報表附註
Notes to the Consolidated Financial Statements
20 應付貿易款項及保留金、應計款項
及其他應付款項
20 TRADE AND RETENTION PAYABLES, ACCRUALS
AND OTHER PAYABLES
2017 2016
HK$’000 HK$’000
千港元 千港元
Trade payables 應付貿易款項 68,372 74,955
Retention payables 應付保留金 11,162 12,352
Total trade and retention payables 應付貿易款項及保留金總額 79,534 87,307
Accruals and other payables (note) 應計款項及其他應付款項
（附註） 13,969 16,298
93,503 103,605
note: The amounts mainly represent accruals and other payables
for constructing work-in-progress, wages, legal and
professional fees and transportation costs.
The ageing analysis of the trade payables based on
invoice date was as follows:
2017 2016
HK$’000 HK$’000
千港元 千港元
0 to 30 days 0至30日 67,127 67,645
31 to 60 days 31至60日 387 510
61 to 90 days 61至90日 28 –
91 to 180 days 91至180日 – 6,524
181 to 365 days 181至365日 – 89
More than 365 days 超過365日 830 187
68,372 74,955
附註： 該等款項主要為就建造在建工
程、工資、法律及專業費用與
運輸成本的應計款項及其他應
付款項。
應付貿易款項根據發票日期的賬齡
分析如下：
145
三和建築集團有限公司
二零一七年年報
綜合財務報表附註
Notes to the Consolidated Financial Statements
20 應付貿易款項及保留金、應計款項
及其他應付款項（續）
於綜合資產負債表內，應付保留金
分類為流動負債。應付保留金的賬
齡如下：
20 TRADE AND RETENTION PAYABLES, ACCRUALS
AND OTHER PAYABLES (Continued)
In the consolidated balance sheet, retention payables
were classified as current liabilities. The ageing of the
retention payables was as follows:
2017 2016
HK$’000 HK$’000
千港元 千港元
Within 1 year 一年內 3,919 11,284
Between 1 and 5 years 一至五年 7,243 1,068
11,162 12,352
The carrying amounts of trade and retention payables
approximated their fair value and were denominated in
the following currencies:
2017 2016
HK$’000 HK$’000
千港元 千港元
HK$ 港元 72,930 78,899
MOP 澳門幣 4,431 8,032
Others 其他 2,173 376
79,534 87,307
應付貿易款項及保留金的賬面值與
彼等的公平值相若，並以下列貨幣
計值：
146
ANNUAL REPORT 2017
SAM WOO CONSTRUCTION GROUP LIMITED
綜合財務報表附註
Notes to the Consolidated Financial Statements
21 應付一名董事款項
根據彌償契據，本公司董事劉振明
先生不可撤回承諾，就彌償本集團
被香港稅務部門及╱或澳門稅務部
門提出的任何申索、質詢及駁回，
以及本集團截至2014年10月產生的
稅務負債相關的成本，向本集團名
下銀行賬戶存入存款20,000,000港
元。
倘於股份首次開始於主板買賣之日
（即2014年10月16日（「上市日期」））
後七年內，澳門稅務部門及香港稅
務部門概無對本集團提出有關稅項
的申索，則餘額將於上市日期第七
週年當日發放及退還予劉振明先生。
餘額連同其應計的所有銀行利息將
直至所有有關上述的申索（如有）於
香港及澳門已完結及完全和解及╱
或已過訴訟時效後，方可發放及退
還予董事。
應付董事款項之結餘由受限制銀
行結餘20,864,000港元（ 2016年：
20,559,000港元）抵押，並按實際利
率%（2016年：%）計息。
21 AMOUNT DUE TO A DIRECTOR
Pursuant to the Deed of Indemnity, Mr. Lau Chun Ming,
a director of the Company, irrevocably undertakes to
deposit a sum of HK$20,000,000 into a bank account
under the name of the Group for the purpose of
indemnifying the Group against any claims, challenges
and rejections from the Hong Kong tax authority and/or
Macau tax authority and costs incurred in relation to the
Group’s tax liabilities arising up to October 2014.
In the event that no claim in relation to taxation is
instituted by both Macau tax authority and Hong Kong
taxation authority against the Group within seven years
after the date on which dealings in the shares on the
Main Board first commenced, . 16 October 2014 (“the
Listing Date”), the balance shall be released and returned
to Mr. Lau Chun Ming on the seventh anniversary of the
Listing Date.
The balance, together with all bank interest accrued
therefrom, shall not be released and returned to the
director until and after all claims, if any, related to the
above have been concluded and fully settled and/or time-
barred in both Hong Kong and Macau.
The balance of amount due to a director is secured
by restricted bank balances of HK$20,864,000 (2016:
HK$20,559,000) and interest bearing at effective interest
rate of % (2016: %).
147
三和建築集團有限公司
二零一七年年報
綜合財務報表附註
Notes to the Consolidated Financial Statements
22 銀行透支及借款22 BANK OVERDRAFTS AND BORROWINGS
2017 2016
HK$’000 HK$’000
千港元 千港元
Non-current 非流動
Obligations under finance leases 融資租賃責任 26,259 66,713
Long-term bank loans 長期銀行貸款 26,861 54,160
53,120 120,873
Current 流動
Bank overdraft 銀行透支 – 3
Short-term bank loans 短期銀行貸款 136,933 35,660
Current portion of long-term
bank loans due for repayment
within one year
於一年內到期償還的長期銀
行貸款的即期部分
36,735 72,778
Long-term bank loans due after
one year which contain repayment
on demand clause
載有可隨時要求償還條款於
一年後到期償還的長期銀
行貸款 – 13,930
Obligations under finance leases due
for repayment within one year
於一年內到期償還的融資租
賃責任 24,953 45,073
198,621 167,444
Total borrowings 借款總額 251,741 288,317
148
ANNUAL REPORT 2017
SAM WOO CONSTRUCTION GROUP LIMITED
綜合財務報表附註
Notes to the Consolidated Financial Statements
22 銀行透支及借款（續）
(a) 借款的到期情況如下：
(i) 銀行透支及銀行貸款
於綜合資產負債表內，載
有可隨時要求償還條款於
一年後到期償還的若干銀
行貸款分類為流動負債。
根據貸款協議所載的預定
還款期，以及不考慮任何
可隨時要求償還條款的影
響，銀行透支及銀行貸款
的到期情況如下：
22 BANK OVERDRAFTS AND BORROWINGS
(Continued)
(a) The maturity of borrowings was as follows:
(i) Bank overdraft and bank loans
In the consolidated balance sheet, certain
bank loans due for repayment after one year
which contain repayment on demand clause
were classified as current liabilities.
Based on the scheduled repayment terms set
out in the loan agreements and ignoring the
effect of any repayment on demand clause,
the maturity of bank overdraft and bank loans
would be as follows:
2017 2016
HK$’000 HK$’000
千港元 千港元
Bank overdraft on demand
須於要求時償還的銀行
透支 – 3
Within 1 year 一年內 173,668 108,438
Between 1 and 2 years 一至兩年 19,535 44,521
Between 2 and 5 years 二至五年 7,326 23,569
200,529 176,531
(ii) Obligations under finance leases
The maturity of obligations under finance lease
would be as follows:
2017 2016
HK$’000 HK$’000
千港元 千港元
Within 1 year 一年內 24,953 45,073
Between 1 and 2 years 一至兩年 17,140 38,606
Between 2 and 5 years 二至五年 9,119 28,107
51,212 111,786
(ii) 融資租賃責任
融資租賃責任的到期情況
如下：
149
三和建築集團有限公司
二零一七年年報
綜合財務報表附註
Notes to the Consolidated Financial Statements
22 銀行透支及借款（續）
(a) 借款的到期情況如下：（續）
(iii) 融資租賃責任載列如下︰
22 BANK OVERDRAFTS AND BORROWINGS
(Continued)
(a) The maturity of borrowings was as follows:
(Continued)
(iii) The obligations under finance leases are as
follows:
2017 2016
HK$’000 HK$’000
千港元 千港元
Gross finance leases
– minimum lease payments
融資租賃總額
－最低租賃付款
Within 1 year 一年內 26,396 48,499
Between 1 and 2 years 一至兩年 17,797 40,408
Between 2 and 5 years 二至五年 9,297 28,953
53,490 117,860
Future finance charges on
finance lease
未來的融資租賃財務開支
(2,278) (6,074)
Present value of obligations
under finance leases
融資租賃責任的現值
51,212 111,786
(b) The weighted average interest rates were as follows:
2017 2016
HK$’000 HK$’000
千港元 千港元
Short-term bank loans 短期銀行貸款 % %
Long-term bank loans 長期銀行貸款 % %
Obligations under finance leases 融資租賃責任 % %
Bank overdraft 銀行透支 N/A %
(b) 加權平均利率如下：
150
ANNUAL REPORT 2017
SAM WOO CONSTRUCTION GROUP LIMITED
綜合財務報表附註
Notes to the Consolidated Financial Statements
22 銀行透支及借款（續）
(c) 本集團銀行透支及借款的賬面
值以下列貨幣計值：
22 BANK OVERDRAFTS AND BORROWINGS
(Continued)
(c) The carrying amounts of the Group’s bank overdraft
and borrowings were denominated in the following
currencies:
2017 2016
HK$’000 HK$’000
千港元 千港元
HK$ 港元 194,808 262,657
Euro 歐元 56,933 25,660
251,741 288,317
(d) The carrying amounts of the Group’s borrowings
approximated their fair value as the impact of
discounting is not significant. The fair values are
within level 2 of the fair value hierarchy.
(e) As at 31 March 2017, the finance leases are
secured by certain plant and equipment with
carry ing amounts of HK$123,800,000 (2016:
HK$210,046,000) of certain subsidiar ies and
guarantees provided by the Company.
(f) The Group’s banking facilities and obligations under
finance leases are subject to annual review and the
utilised facilities are secured or guaranteed by:
2017 2016
HK$’000 HK$’000
千港元 千港元
Secured 有抵押 105,358 179,868
Unsecured 無抵押 146,383 108,449
251,741 288,317
(d) 由於貼現影響極微，本集團的
借款賬面值與其公平值相若。
公平值屬於公平值層級的第二
級。
(e) 於2017年3月31日，融資租
賃以若干附屬公司賬面值為
123,800,000港元（ 2016年：
210,046,000港元）的若干機械
及設備作抵押及由本公司提供
擔保。
(f) 本集團的銀行信貸及融資租賃
承擔每年均被進行審閱，且已
動用信貸由以下各項作抵押或
擔保：
151
三和建築集團有限公司
二零一七年年報
綜合財務報表附註
Notes to the Consolidated Financial Statements
22 銀行透支及借款（續）
(f) 本集團的銀行信貸及融資租賃
承擔每年均被進行審閱，且已
動用信貸由以下各項作抵押或
擔保：（續）
(i) 於2017年3月31日，由若
干附屬公司共同提供限
額為零港元（2016年：
99,055,000港元）的公司
擔保；
(ii) 於2017年3月31日，由若
干附屬公司提供的無限額
擔保（2016年：相同）；
(iii) 本集團之若干機械及設備
（詳見附註13(a)及(b)）；
(iv) 於2016年3月31日，建築
項目所得款項的應收款
項，其已於截至2017年3
月31日止年度獲解除；
(v) 於2017年3月31日，附屬
公司就本公司所出具的擔
保或履約保證作出的彌償
保證（2016年：相同）；
截至2017年3月31日止年度，
本集團並無違反任何金融銀行
契諾（2016年：無）。
22 BANK OVERDRAFTS AND BORROWINGS
(Continued)
(f) The Group’s banking facilities and obligations under
finance leases are subject to annual review and the
utilised facilities are secured or guaranteed by:
(Continued)
(i) corporate guarantees jo int ly granted by
certain subsidiaries to the extent of Nil (2016:
HK$99,055,000) as at 31 March 2017;
(ii) an unl imited guarantee given by certain
subsidiaries as at 31 March 2017 (2016:
same);
(iii) certain plant and equipment of the Group as
detailed in notes 13(a) and (b);
(iv) an assignment of receivable over the proceeds
of a construction project as at 31 March 2016
which had been released during the year
ended 31 March 2017;
(v) indemnities from subsidiaries for the issuance
of guarantees or performance bonds of the
Company as at 31 March 2017 (2016: same);
The Group did not breach any financial bank
covenant during the year ended 31 March 2017
(2016: none).
152
ANNUAL REPORT 2017
SAM WOO CONSTRUCTION GROUP LIMITED
綜合財務報表附註
Notes to the Consolidated Financial Statements
23 COMMITMENTS
(a) Capital commitments
Capital expenditure contracted for at the end of the
year but not yet incurred is as follows:
2017 2016
HK$’000 HK$’000
千港元 千港元
Plant and equipment 機械及設備 – 3,511
(b) Operating lease commitments – as lessee
The future aggregate min imum lease renta l
expenses in respect of hiring equipment, office and
storage premises, and quarters for workers and
directors under non-cancellable operating leases are
as follows:
2017 2016
HK$’000 HK$’000
千港元 千港元
No later than 1 year 不遲於一年 6,932 4,012
Later than 1 year and no later
than 5 years
遲於一年但不遲於五年
1,805 2,771
8,737 6,783
(c) Operating lease commitments – as lessor
As at 31 March 2017, the Group did not have any
operating lease commitments as a lessor (2016: Nil).
23 承擔
(a) 資本承擔
於年末已訂約但尚未產生的資
本開支如下：
(b) 經營租賃承擔－作為承租人
根據不可撤銷經營租賃就租用
設備、寫字樓及倉庫物業以及
員工及董事宿舍的未來最低租
金開支總額須於以下期間內支
付：
(c) 經營租賃承擔－作為出租人
於2017年3月31日，本集團並
無以出租人身份訂有任何經營
租賃承擔（2016年：無）。
153
三和建築集團有限公司
二零一七年年報
綜合財務報表附註
Notes to the Consolidated Financial Statements
24 CONTINGENT LIABILITIES
As at 31 March 2017, the Group has given guarantees
on pe r fo rmance bonds o f HK$17 ,751 ,000 and
HK$16,500,000, respect ive ly , in respect o f two
construction contracts of the Group in its ordinary course
of business (2016: same). The performance bonds are
expected to be released in accordance with the terms of
the respective construction contracts.
25 NOTES TO THE CONSOLIDATED STATEMENT OF
CASH FLOWS
(a) Reconciliation of profit before income tax to net
cash generated from operations:
2017 2016
HK$’000 HK$’000
千港元 千港元
Profit before income tax 除所得稅前溢利 91,215 165,509
Depreciation of plant
and equipment
機械及設備折舊
25,268 32,531
Loss on disposal of plant
and equipment
出售機械及設備的虧損
19 496
Write-off of plant and equipment 撇銷機械及設備 1,101 652
Finance income 財務收入 (2,677) (2,816)
Finance costs 財務費用 10,330 11,674
125,256 208,046
Changes in working capital: 營運資金變動︰
Decrease/(increase) in trade
and retention receivables
應收貿易款項及保留金
減少╱（增加） 138,504 (93,587)
(Increase)/decrease in deposits,
prepayments and other
receivables
按金、預付款項及其他應收
款項（增加）╱減少
(4,411) 2,609
Decrease/(increase) in amounts
due from customers for
contract work
應收客戶合約工程金額
減少╱（增加）
9,948 (1,508)
(Decrease)/increase in trade and
retention payables
應付貿易款項及保留金
（減少）╱增加 (7,773) 50,371
Decrease in accruals and
other payables
應計款項及其他應付款項
減少 (2,329) (288)
Increase in amounts due to
customers for contract work
應付客戶合約工程金額增加
54,035 21,838
Net cash generated from
operations
經營活動所得現金淨額
313,230 187,481
24 或然負債
於2017年3月31日，本集團就有關
本集團日常業務範圍內的兩項建築
合約的履約保函作出擔保分別為
17,751,000港元及16,500,000港元
（2016年：相同）。該等履約保函預
計將根據各建築合約的條款解除。
25 綜合現金流量表附註
(a) 除所得稅前溢利與經營業務所
得現金淨額的對賬：
154
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綜合財務報表附註
Notes to the Consolidated Financial Statements
25 NOTES TO THE CONSOLIDATED STATEMENT OF
CASH FLOWS (Continued)
(b) In the consolidated statement of cash f lows,
proceeds from disposal of plant and equipment
comprise:
2017 2016
HK$’000 HK$’000
千港元 千港元
Net book amount (note 13) 賬面淨值（附註13） 47 846
Loss on disposal of plant and
equipment (note 6)
出售機械及設備的虧損
（附註6） (19) (496)
Non-cash proceeds from
exchange of certain plant
and equipment (note 25(c))
交換若干機械及設備的
非現金所得款項
（附註25(c)） – (350)
Cash proceeds from sales
of plant and equipment
出售機械及設備的現金
所得款項 28 –
(c) Non-cash transactions
During the year ended 31 March 2017, (i) finance
lease arrangement was entered into by the Group
for acquisition of plant and equipment amounting
to HK$294,000 (2016: HK$74,843,000); and (ii)
plant and equipment amounting to Nil (2016:
HK$1,080,000) was acquired through exchange of
certain plant and equipment at a carrying amount of
HK$846,000 with an additional cash consideration
of HK$730,000.
25 綜合現金流量表附註（續）
(b) 於綜合現金流量表中，出售機
械及設備的所得款項包括：
(c) 非現金交易
於截至2017年3月31日止年
度，( i)本集團就購買294,000
港元（2016年：74,843,000港
元）的機械及設備訂立融資租
賃安排；及(ii)零港元（2016年：
1,080,000港元）的機械及設備
乃透過交換賬面值為846,000
港元的若干機械及設備以及額
外現金代價730,000港元而收
購。
155
三和建築集團有限公司
二零一七年年報
綜合財務報表附註
Notes to the Consolidated Financial Statements
26 RELATED PARTY TRANSACTIONS
Related parties are those parties that have the ability
to control, jointly control or exert significant influence
over the other party in holding power over the investee;
exposure, or r ights, to var iab le returns f rom i ts
involvement with the investee; and the ability to use
its power over the investee to affect the amount of the
investor’s returns. Parties are also considered to be
related if they are subject to common control or joint
control. Related parties may be individuals or other
entities.
(a) The directors of the Company are of the view that
the following companies were related parties that
had transactions or balances with the Group:
Name of the related party Relationship with the Group
關聯人士名稱 與本集團的關係
Mr. Lau Chun Ming Director of the Company
劉振明先生 本公司董事
Cheer Crown Limited A related company beneficially wholly owned by
Mr. Lau Chun Ming
嘉勳有限公司 由劉振明先生全資實益擁有的關聯公司
Cheer Profit International
Enterprise Limited
A related company wholly owned by certain directors of
the Group and their family member
置利國際企業有限公司 由本集團若干董事及其家族成員全資擁有的關聯公司
Cheer Wealth International
Development Limited
A related company wholly owned by certain directors of
the Group and their family member
富怡國際發展有限公司 由本集團若干董事及其家族成員全資擁有的關聯公司
East Ascent Enterprise Limited A related company wholly owned by certain directors of
the Group and their family member
東升企業有限公司 由本集團若干董事及其家族成員全資擁有的關聯公司
Healthy World Investment Limited A related company wholly owned by certain directors of
the Group
健匯投資有限公司 由本集團若干董事全資擁有的關聯公司
Long Ascent Development Limited A related company wholly owned by certain directors of
the Group
長升發展有限公司 由本集團若干董事全資擁有的關聯公司
Sky Ease Holdings Limited A related company wholly owned by Mr. Lau Chun Ming
Sky Ease Holdings Limited 由劉振明先生全資擁有的關聯公司
26 關聯人士交易
關聯人士指有能力控制、共同控制
被投資方或可對其他可對被投資方
行使權力的人士行使重大影響力的
人士；須承擔或享有自其參與被投
資方的可變回報的風險或權利的人
士；可利用其對被投資方的權力影
響投資者回報金額的人士。受共同
控制或聯合控制的人士亦被視為關
聯人士。關聯人士可為個人或其他
實體。
(a) 本公司董事認為，下列公司為
曾與本集團進行交易或彼此間
有結餘的關聯人士：
156
ANNUAL REPORT 2017
SAM WOO CONSTRUCTION GROUP LIMITED
綜合財務報表附註
Notes to the Consolidated Financial Statements
26 RELATED PARTY TRANSACTIONS (Continued)
(b) Transactions
In addition to those disclosed elsewhere in the
consolidated financial statements, the following
transactions were carried out with related parties at
terms mutually agreed by both parties:
2017 2016
HK$’000 HK$’000
千港元 千港元
Continuing transactions 持續交易
Paid to related parties: 已付關聯人士款項：
Rental expenses to Cheer
Crown Limited (note i)
支付予嘉勳有限公司的租金開支
（附註i） 2,160 2,160
Rental expenses to East Ascent
Enterprise Limited (note ii)
支付予東升企業有限公司的
租金開支（附註ii） 46 46
Rental expenses to Cheer
Profit International Enterprise
Limited (note ii)
支付予置利國際企業有限公司的
租金開支（附註ii）
46 46
Rental expenses to Long Ascent
Development Limited (note ii)
支付予長升發展有限公司的
租金開支（附註ii） 600 600
Rental expenses to Cheer
Wealth International
Development Limited (note ii)
支付予富怡國際發展有限公司的
租金開支（附註ii）
875 875
Rental expenses to Healthy
World Investment Limited
(note ii)
支付於健匯投資有限公司的
租金開支（附註ii）
600 600
Expense payable to
a related party:
應付關聯人士開支：
Interest expense payable to
a director (note iii)
應付董事利息開支（附註iii）
305 434
Discontinued transaction 已終止交易
Paid to a related party: 已收關聯人士款項：
Acquisition of available-for-sale
financial assets from Sky Ease
Holdings Limited (note iv)
收購Sky Ease Holdings Limited
的可供出售金融資產（附註iv）
19,750 –
26 關聯人士交易（續）
(b) 交易
除於綜合財務報表其他部分所
披露者外，本集團與關聯人士
按雙方協定的條款進行以下交
易：
157
三和建築集團有限公司
二零一七年年報
綜合財務報表附註
Notes to the Consolidated Financial Statements
26 RELATED PARTY TRANSACTIONS (Continued)
(b) Transactions (Continued)
note i: Rental expenses for storage of machinery and
equipment are based on terms pursuant to the
tenancy agreements as mutually agreed by the
relevant parties.
note ii: Rental expenses for directors’ quarters are based
on terms pursuant to the tenancy agreements as
mutually agreed by the relevant parties.
note iii: Interest expense was payable to a director, Mr.
Lau Chun Ming, in respect of the amount due to a
director (note 26(d)).
note iv: On 29 March 2017, the Group has entered
into an agreement with Sky Ease Holdings
Limited, a company wholly owned by Mr. Lau,
for the acquisition of 5% of issued capital of
Gold Champion at a cash considerat ion of
HK$19,750,000. The acquisition is accounted for
as available-for-sale financial assets (note 14).
(c) Key management compensation
Key management includes directors (executive and
non-executive) of the Group. The compensation
paid or payable to key management for employee
services is disclosed in note 29(a).
(d) Balance – non-trade
2017 2016
HK$’000 HK$’000
千港元 千港元
Payable to a director: 應付一名董事款項︰
Mr. Lau Chun Ming (note 21) 劉振明先生（附註21） 20,864 20,559
27 ULTIMATE HOLDING COMPANY
Management consider that Silver Bright Holdings Limited,
a company incorporated in the British Virgin Islands, is
the ultimate holding company of the Group, which is a
company indirectly owned by a discretionary trust, the
beneficiary of which is Ms. Leung Lai So.
26 關聯人士交易（續）
(b) 交易（續）
附註i︰ 用作存放機械及設備的
租金開支乃基於有關各
方共同協定的租約的條
款。
附註ii︰ 用作董事宿舍的租金開
支乃基於有關各方共同
協定的租約的條款。
附註iii︰ 利息開支乃就應付一名
董事款項而應付董事劉
振明先生（附註26(d)）。
附註iv︰ 於2 0 1 7年3月2 9日，
本 集 團 與S k y E a s e
Holdings Limited（劉先
生全資擁有之公司）訂
立協議，按現金代價
19,750,000港元收購
Gold Champion已發行
股本5%。收購以可供
出售金融資產（附註14）
入賬
(c) 主要管理人員報酬
主要管理人員包括本集團董事
（執行及非執行）。就僱員服務
已付或應付予主要管理人員的
報酬於附註29(a)披露。
(d) 結餘－非貿易
27 最終控股公司
管理層認為Silver Bright Holdings
Limited（一間於英屬處女群島註冊
成立的公司）為本集團的最終控股公
司，該公司由以梁麗蘇女士為受益
人的全權信託間接擁有。
158
ANNUAL REPORT 2017
SAM WOO CONSTRUCTION GROUP LIMITED
綜合財務報表附註
Notes to the Consolidated Financial Statements
28 本公司的資產負債表及儲備變動28 BALANCE SHEET AND RESERVE MOVEMENT OF
THE COMPANY
2017 2016
Note HK$’000 HK$’000
附註 千港元 千港元
ASSETS 資產
Non-current assets 非流動資產
Investments in subsidiaries 於附屬公司的投資 5,927 5,927
Current assets 流動資產
Prepayments 預付款項 67 –
Amount due from a subsidiary 應收附屬公司款項 77,462 140,187
Income tax receivable 應收所得稅 5 –
Restricted bank balances 受限制銀行結餘 20,864 –
Cash and cash equivalents 現金及現金等價物 123,342 67,058
221,740 207,245
Total assets 資產總值 227,667 213,172
EqUITY 權益
Capital and reserve 資本及儲備
Share capital 股本 4,200 4,200
Reserves 儲備 (a) 202,414 208,966
Total equity 權益總額 206,614 213,166
LIABILITIES 負債
Current liabilities 流動負債
Amount due to a director 應付董事款項 20,864 –
Accruals and other payables 應計款項及其他應付
款項 189 5
Income tax payable 應付所得稅 – 1
Total liabilities 負債總額 21,053 6
Total equity and liabilities 權益及負債總額 227,667 213,172
The balance sheet of the Company was approved by the
Board of Directors on 23 June 2017 and were signed on
its behalf.
Lau Chun Ming
Director
本公司的資產負債表已於2017年6月
23日獲董事會批准，並由下列人士
代表簽署。
劉振明
董事
159
三和建築集團有限公司
二零一七年年報
綜合財務報表附註
Notes to the Consolidated Financial Statements
28 本公司的資產負債表及儲備變動
（續）
附註(a)：
本公司的儲備變動
28 BALANCE SHEET AND RESERVE MOVEMENT OF
THE COMPANY (Continued)
note (a):
Reserve movement of the Company
Share
premium
Other
reserve
(Accumulated
losses)/
retained
earnings Total
股份溢價 其他儲備
（累計虧損）╱
保留盈利 總計
HK$’000 HK$’000 HK$’000 HK$’000
千港元 千港元 千港元 千港元
At 31 March 2015 於2015年3月31日 135,893 5,927 (23,340) 118,480
Profit for the year 本年度溢利 – – 116,292 116,292
Issuance of placement shares (note 18(a)) 發行配售股份（附註18(a)） 58,194 – – 58,194
Final dividends relating to the year
ended 31 March 2015
有關截至2015年3月31日
止年度的末期股息 – – (63,000) (63,000)
Interim dividend relating to the year
ended 31 March 2016
有關截至2016年3月31日
止年度的中期股息 – – (21,000) (21,000)
At 31 March 2016 於2016年3月31日 194,087 5,927 8,952 208,966
Profit for the year 本年度溢利 – – 31,248 31,248
Final dividends relating to the year
ended 31 March 2016
有關截至2016年3月31日
止年度的末期股息 – – (29,400) (29,400)
Interim dividend relating to the year
ended 31 March 2017
有關截至2017年3月31日
止年度的中期股息 – – (8,400) (8,400)
At 31 March 2017 於2017年3月31日 194,087 5,927 2,400 202,414
Other reserve of the Company represents the difference
between the net asset value of SW (BVI) acquired over
the nominal value of the share capital of the Company
issued in exchange thereof.
本公司的其他儲備指所收購三和
(BVI)的資產淨值超過本公司為換取
有關資產所發行股本面值的差額。
160
ANNUAL REPORT 2017
SAM WOO CONSTRUCTION GROUP LIMITED
綜合財務報表附註
Notes to the Consolidated Financial Statements
29 董事福利及權益
(a) 董事酬金
附註7所披露已計入員工成本
的本公司各董事的酬金載列如
下：
29 BENEFITS AND INTERESTS OF DIRECTORS
(a) Directors’ emoluments
The remuneration of each director of the Company
which were included in the staff costs as disclosed
in note 7 is set out below:
For the year ended 31 March 2017
截至2017年3月31日止年度
Fees Salaries
Discretionary
bonus
Directors’
quarters
Employer’ s
contribution
to pension
scheme Total
袍金 薪金 酌情花紅 董事宿舍
僱主向
退休金計劃
作出的供款 總計
HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000
千港元 千港元 千港元 千港元 千港元 千港元
Executive directors 執行董事
Mr. Lau Chun Ming# 劉振明先生# – 797 66 643 – 1,506
Mr. Lau Chun Kwok* 劉振國先生* – 840 70 600 11 1,521
Mr. Lau Chun Ka 劉振家先生 – 840 70 600 18 1,528
Ms. Leung Lai So 梁麗蘇女士 – 456 38 324 – 818
Independent non-executive
directors
獨立非執行董事
Professor Wong Sue Cheun,
Roderick
王世全教授
240 – – – – 240
Mr. Chu Tak Sum 朱德森先生 240 – – – – 240
Mr. Ip Tin Chee, Arnold 葉天賜先生 240 – – – – 240
720 2,933 244 2,167 29 6,093
161
三和建築集團有限公司
二零一七年年報
綜合財務報表附註
Notes to the Consolidated Financial Statements
29 BENEFITS AND INTERESTS OF DIRECTORS
(Continued)
(a) Directors’ emoluments (Continued)
For the year ended 31 March 2016
截至2016年3月31日止年度
Fees Salaries
Discretionary
bonus
Directors’
quarters
Employer’ s
contribution
to pension
scheme Total
袍金 薪金 酌情花紅 董事宿舍
僱主向
退休金計劃
作出的供款 總計
HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000
千港元 千港元 千港元 千港元 千港元 千港元
Executive directors 執行董事
Mr. Lau Chun Ming# 劉振明先生# – 797 – 643 – 1,440
Mr. Lau Chun Kwok* 劉振國先生* – 840 – 600 18 1,458
Mr. Lau Chun Ka 劉振家先生 – 840 – 600 18 1,458
Ms. Leung Lai So 梁麗蘇女士 – 456 – 324 – 780
Independent non-executive
directors
獨立非執行董事
Professor Wong Sue Cheun,
Roderick
王世全教授
240 – – – – 240
Mr. Chu Tak Sum 朱德森先生 240 – – – – 240
Mr. Ip Tin Chee, Arnold 葉天賜先生 240 – – – – 240
720 2,933 – 2,167 36 5,856
# Chairman
* Chief Executive Officer
29 董事福利及權益（續）
(a) 董事酬金（續）
# 主席
* 行政總裁
162
ANNUAL REPORT 2017
SAM WOO CONSTRUCTION GROUP LIMITED
綜合財務報表附註
Notes to the Consolidated Financial Statements
29 BENEFITS AND INTERESTS OF DIRECTORS
(Continued)
(a) Directors’ emoluments (Continued)
The remunera t ion shown above represents
remuneration received from the Group by these
directors in their capacity as employees to the
Group and/or in their capacity as directors of the
companies now comprising the Group.
During the year ended 31 March 2017, none of
the directors of the Company (i) received or paid
any remuneration in respect of accepting office; (ii)
received or paid emoluments in respect of services
in connection with the management of the affairs
of the Company or its subsidiaries undertaking; or
(iii) waived or has agreed to waive any emolument
(2016: same).
(b) Directors’ material interests in transactions,
arrangements or contracts
Other than those disclosed in note 26 to the
consolidated financial statements, no significant
transactions, arrangements and contracts in relation
to the Group’s business to which the Company was
a party and in which a director of the Company had
a material interest, whether directly or indirectly,
subsisted at the end of the year or at any time
during the year (2016: same).
29 董事福利及權益（續）
(a) 董事酬金（續）
上述酬金指該等董事作為本集
團僱員及╱或現時本集團旗下
各公司的董事向本集團收取的
酬金。
於截至2017年3月31日止年度
內，概無本公司董事(i)就接受
職位收取或支付任何酬金；(ii)
就有關管理本公司或其附屬公
司所承擔事務的服務收取或
支付任何酬金；或(iii)放棄或同
意放棄任何酬金（2016年：相
同）。
(b) 董事於交易、安排或合約的重
大權益
除綜合財務報表附註26所披
露者外，於年末或年內任何時
間，概無本公司作為一方訂立
且本公司董事直接或間接擁有
重大權益且與本公司業務有關
的重大交易、安排及合約存續
（2016年：相同）。
163
三和建築集團有限公司
二零一七年年報
綜合財務報表附註
Notes to the Consolidated Financial Statements
30 期後事件
於報告期末後，澳門稅務部門已發
出2013年及2014年最終及決定性評
稅及最終評稅通知書，本集團並無
未償還的澳門2013年及2014年評
稅年度所需的稅項；而澳門2013年
及2014年評稅已完結、最終及獲繳
付。香港稅局至今並無就機器租賃
協議及機器代理協議項下交易及收
入要求徵收任何稅項。
鑒於上述最近的稅務狀況及本公司
稅務顧問作出的上限風險估計，於
2017年6月，本公司董事（包括所有
獨立非執行董事）議決歸還彌償契據
（附註21）項下20,000,000港元存款
中的部分17,000,000港元連同該筆
存款截至2017年7月12日所賺取的
一切銀行存款利息1,006,000港元。
餘下3,000,000港元指本集團的估計
餘下稅務風險。
儘管本集團部分或悉數歸還以上款
項，控股股東不可撤回地確認彌償
契據所載彼等的全部責任仍然有
效，惟給予本集團為數20,000,000
港元的存款除外。
30 SUBSEqUENT EVENTS
Subsequent to the end of reporting date, the final and
conclusive tax assessment and final tax demand note for
the years 2013 and 2014 were issued by the tax authority
in Macau. The Group has no outstanding amount on the
required tax for the years of assessment of 2013 and
2014 in Macau; the Macau tax assessment for the years
2013 and 2014 have been concluded, final and settled.
There is no tax liability so far demanded by Hong Kong
tax authority in respect of the transactions and income
contemplated under the Machinery Lease Agreement and
the Machinery Agency Agreement.
In June 2017, the di rectors ( inc luding a l l of the
independent non-executive directors) of the Company
resolved to partially return HK$17,000,000 out of the
deposit of HK$20,000,000 pursuant of Deed of Indemnity
(note 21) together with all the bank interests earned up to
12 July 2017 amounting to HK$1,006,000 in view of the
updated tax positions mentioned above and the estimate
on maximum exposure made by the tax advisers of the
Company. The remaining HK$3,000,000 represented the
estimated remaining tax exposure of the Group.
Notwithstanding the return of the said amount (whether
in part or in ful l ) from the Group, the control l ing
shareholders i r revocably conf i rmed that, a l l thei r
obligations, save for deposit a sum of HK$20,000,000 to
the Group, set out in the Deed of Indemnity remain valid.
164
ANNUAL REPORT 2017
SAM WOO CONSTRUCTION GROUP LIMITED
五年財務概要
Five Year Financial Summary
A summary of the published results and of the assets, liabilities
and equity of the Group for the last five financial years is as
follows.
Year ended 31 March
截至3月31日止年度
2017 2016 2015 2014 2013
HK$’000 HK$’000 HK$’000 HK$’000 HK$’000
Results 業績 千港元 千港元 千港元 千港元 千港元
Revenue 收入 817,682 1,061,482 851,285 492,734 375,147
Gross Profit 毛利 145,225 210,012 306,245 165,634 102,590
Profit before income tax 除所得稅前溢利 91,215 165,509 241,010 129,895 68,271
Income tax expense 所得稅開支 12,235 (12,632) (21,842) (2,809) (12,649)
Profit for the year 年度溢利 78,980 152,877 219,168 127,086 55,622
As at 31 March
於3月31日
2017 2016 2015 2014 2013
HK$’000 HK$’000 HK$’000 HK$’000 HK$’000
千港元 千港元 千港元 千港元 千港元
Assets 資產
Non-current assets 非流動資產 654,959 608,314 513,389 403,802 315,897
Current assets 流動資產 551,115 546,640 472,831 223,670 138,951
Total assets 資產總值 1,206,074 1,154,954 986,220 627,472 454,848
Liabilities 負債
Non-current liabilities 非流動負債 127,437 185,214 184,453 69,652 85,481
Current liabilities 流動負債 382,406 314,689 273,987 339,101 227,734
Total liabilities 負債總額 509,843 499,903 458,440 408,753 313,215
Total equity 權益總額 696,231 655,051 527,780 218,719 141,633
Note:
The summary of the consolidated results of the Group for each of the
two years ended 31 March 2013 and 2014 and of the assets, equity
and liabilities as at 31 March 2013 and 2014 have been extracted from
the Prospectus.
The summary above does not form part of the audited financial
statements.
本集團於最近五個財政年度的已刊發業績及
資產、負債以及權益概述如下。
附註：
本集團與截至2013年及2014年3月31日止兩
個年度各年的綜合業績及於2013年及2014
年3月31日的資產、權益及負債概要乃摘錄
自招股章程。
上述概要並不構成經審核財務報表的一部
分。
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董事會報告
獨立核數師報告
綜合全面收益表
綜合資產負債表
綜合權益變動表
綜合現金流量表
綜合財務報表附註
五年財務概要
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