GLORYFLAME：Annualreport2023.pdf

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1、 2023年度報告Annual Report(Incorporated in the Cayman Islands with limited liability)8059Stock Code(於開曼群島註冊成立的有限公司)(Incorporated in the Cayman Islands with limited liability)(於開曼群島註冊成立的有限公司)年度報告 Annual Report 2023 CHARACTERISTICS OF THE GEM OF THE STOCK EXCHANGE OF HONG KONG LIMITED(THE“STOCK EXCHANGE”)

2、GEM has been positioned as a market designed to accommodate companies to which a higher investment risk may be attached than other companies listed on the Stock Exchange.Prospective investors should be aware of the potential risks of investing in such companies and should make the decision to invest

3、 only after due and careful consideration.Given that the companies listed on GEM are generally small and mid-sized companies,there is a risk that securities traded on GEM may be more susceptible to high market volatility than securities traded on the Main Board and no assurance is given that there w

4、ill be a liquid market in the securities traded on GEM.Hong Kong Exchanges and Clearing Limited and the Stock Exchange take no responsibility for the contents of this report,make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoev

5、er arising from or in reliance upon the whole or any part of the contents of this report.This report,for which the directors(the“Directors”)of Glory Flame Holdings Limited(the“Company”)collectively and individually accept full responsibility,includes particulars given in compliance with the Rules Go

6、verning the Listing of Securities on GEM of the Stock Exchange(the“GEM Listing Rules”)for the purpose of giving information with regard to the Company.The Directors,having made all reasonable enquiries,confirm that to the best of their knowledge and belief the information contained in this report is

7、 accurate and complete in all material respects and not misleading or deceptive,and there are no other matters the omission of which would make any statement herein or this report misleading.香港聯合交易所有限公司（聯交所）GEM的特色 GEM乃為較於聯交所上市的其他公司帶有更高投資風險的公司提供上市的市場。有意投資者應了解投資於該等公司的潛在風險，並應經過審慎周詳考慮後方作出投資決定。由於GEM上市公司普

8、遍為中小型公司，在 GEM買賣的證券可能會較於主板買賣之證券承受較大的市場波動風險，同時無法保證在 GEM買賣的證券會有高流通量的市場。香港交易及結算所有限公司及聯交所對本報告內容概不負責，對其準確性或完整性亦不發表任何聲明，並明確表示概不會就本報告全部或任何部分內容而產生或因依賴該等內容而引致的任何損失承擔任何責任。本報告乃遵照聯交所GEM證券上市規則（GEM上市規則）而刊載，旨在提供有關朝威控股有限公司（本公司）的資料，本公司董事（董事）對本報告共同及個別承擔全部責任。董事於作出一切合理查詢後確認，就彼等所深知及確信，本報告所載資料在各重大方面均屬準確完整，且無誤導或欺騙成分，亦無遺漏任何

9、其他事項，致使本報告或其所載任何聲明產生誤導。1ANNUAL REPORT 2023 年報CONTENTS目錄 2Corporate Information公司資料4CEOs Statement首席執行官報告6Management Discussion and Analysis管理層討論及分析15Biographical Details of Directors and Senior Management董事及高級管理層履歷詳情18Corporate Governance Report企業管治報告41Environmental,Social and Governance Report環境、社會

10、及管治報告84Directors Report董事會報告96Independent Auditors Report獨立核數師報告105Consolidated Statement of Profit or Loss and Other Comprehensive Income綜合損益及其他全面收入表106Consolidated Statement of Financial Position綜合財務狀況表108Consolidated Statement of Changes in Equity綜合權益變動表109Consolidated Statement of Cash Flows綜合現金

11、流量表111Notes to the Consolidated Financial Statements綜合財務報表附註196Financial Summary財務概要2GLORY FLAME HOLDINGS LIMITED 朝威控股有限公司CORPORATE公司資料INFORMATION BOARD OF DIRECTORS Executive Directors Mr.Zhong Zhiwei(appointed on 22 March 2024)Mr.Liu Yingjie(resigned on 22 March 2024)Ms.Zhou Jin(resigned on 18 Jul

12、y 2023)Independent Non-executive Directors Mr.Cao Hongmin Mr.Chan Chi Pan Mr.Li Kar Fai,Peter AUDIT COMMITTEE Mr.Li Kar Fai,Peter(Chairman of Audit Committee)Mr.Chan Chi Pan Mr.Cao Hongmin REMUNERATION COMMITTEE Mr.Cao Hongmin(Chairman of Remuneration Committee)Mr.Chan Chi Pan Mr.Li Kar Fai,Peter NO

13、MINATION COMMITTEE Mr.Chan Chi Pan(Chairman of Nomination Committee)Mr.Cao Hongmin Mr.Li Kar Fai,Peter CHIEF EXECUTIVE OFFICER Mr.Lai Xiaoliang COMPANY SECRETARY Mr.Cheung Wai Kee AUTHORISED REPRESENTATIVES Mr.Zhong Zhiwei(appointed on 22 March 2024)Mr.Liu Yingjie(resigned on 22 March 2024)Mr.Cheung

14、 Wai Kee 董事會執行董事鍾志偉先生（於二零二四年三月二十二日獲委任）劉英杰先生（於二零二四年三月二十二日辭任）Zhou Jin女士（於二零二三年七月十八日辭任）獨立非執行董事曹洪民先生陳志斌先生李嘉輝先生審核委員會李嘉輝先生（審核委員會主席）陳志斌先生曹洪民先生薪酬委員會曹洪民先生（薪酬委員會主席）陳志斌先生李嘉輝先生提名委員會陳志斌先生（提名委員會主席）曹洪民先生李嘉輝先生首席執行官賴曉亮先生公司秘書張蔚琦先生法定代表鍾志偉先生（於二零二四年三月二十二日獲委任）劉英杰先生（於二零二四年三月二十二日辭任）張蔚琦先生3ANNUAL REPORT 2023 年報CORPORATEINFOR

15、MATION公司資料 註冊辦事處 Windward 3,Regatta Office Park PO Box 1350 Grand Cayman KY1-1108 Cayman Islands香港主要營業地點 香港九龍尖沙咀廣東道5號海港城海洋中心8樓821室核數師滙益國際會計師事務所有限公司註冊公眾利益實體核數師（自二零二三年十一月二十四日起獲委任）中匯安達會計師事務所有限公司（自二零二三年十一月二十四日起辭任）股份過戶登記總處 Ocorian Trust(Cayman)Limited Windward 3,Regatta Office Park PO Box 1350 Grand Caym

16、an KY1-1108 Cayman Islands 主要往來銀行中國銀行（香港）有限公司中國工商銀行股份有限公司交通銀行股份有限公司香港股份過戶及登記分處 寶德隆證券登記有限公司香港北角電氣道148號21樓2103B室股份代號 08059公司網址 www.gf- REGISTERED OFFICE Windward 3,Regatta Office Park PO Box 1350 Grand Cayman KY1-1108 Cayman Islands PRINCIPAL PLACE OF BUSINESS IN HONG KONG Suite 821,8th Floor Ocean Ce

17、ntre,Harbour City 5 Canton Road Tsim Sha Tsui,Kowloon Hong Kong AUDITOR AOGB CPA LimitedRegistered Public Interest Entity Auditors(appointed with effect from 24 November 2023)ZHONGHUI ANDA CPA Limited(resigned with effect from 24 November 2023)PRINCIPAL SHARE REGISTER AND TRANSFER OFFICE Ocorian Tru

18、st(Cayman)Limited Windward 3,Regatta Office Park PO Box 1350 Grand Cayman KY1-1108 Cayman Islands PRINCIPAL BANKERS Bank of China(Hong Kong)Limited Industrial and Commercial Bank of China Limited Bank of Communications Limited HONG KONG BRANCH SHARE REGISTRAR AND TRANSFER OFFICE Boardroom Share Regi

19、strars(HK)Limited Room 2103B,21/F 148 Electric Road North Point,Hong Kong STOCK CODE 08059 COMPANYS WEBSITE www.gf- 4GLORY FLAME HOLDINGS LIMITED 朝威控股有限公司CEOS首席執行官報告STATEMENT On behalf of Glory Flame Holdings Limited(the“Company”),I am honoured to present this annual report of the consolidated resul

20、ts of the Company and its subsidiaries(collectively,the“Group”)for the financial year ended 31 December 2023(“FY2023”or the“Reporting Period”).PERFORMANCEThe Group posted a revenue of approximately HK$107.6 million for FY2023,representing a decrease by approximately 9.2%as compared to approximately

21、HK$118.5 million for the year ended 31 December 2022(“FY2022”).The Groups revenue attributable to concrete demolition services decreased by approximately 2.0%from approximately HK$69.4 million for FY2022 to approximately HK$68.0 million for FY2023.The Groups revenue attributable to prefabricated con

22、struction decreased by approximately 19.5%from approximately HK$49.2 million for FY2022 to approximately HK$39.6 million for FY2023.The Group recorded a net loss of approximately HK$9.1 million for FY2023,representing an increase by approximately 237.0%as compared to a net loss of approximately HK$2

23、.7 million for FY2022.Basic loss per share for FY2023 was HK0.97 cents,as compared to HK1.02 cents for FY2022.BUSINESS REVIEW AND PROSPECTHong Kong is facing high external uncertainty amid continuing geopolitical tension between the United States and China and high interest rates.With the sluggish p

24、roperty market and weak profit expectations of corporations,the lack of investors confidence weighed on the recovery of the economy.Hong Kong property developers have been becoming cautious in acquiring land and scaling back the construction project launches as demand dries up due to a mix of high i

25、nterest rate and a global economic slowdown.For FY2023,the Groups revenue attributable to concrete demolition services business dropped by 2.0%.The Company believes that the difficult external environment will continue to pose pressures on Hong Kongs economy and the road to recovery will remain chal

26、lenges in forthcoming years.本人謹代表朝威控股有限公司（本公司）呈報本公司及其附屬公司（合稱 本集團）截至二零二三年十二月三十一日止財政年度（財政年度二零二三年 或 報告期）的綜合業績之年報，為此深感榮幸。業績本集團於財政年度二零二三年錄得收入約107,600,000港元，較截至二零二二年十二月三十一日止年度（財政年度二零二二年）之約118,500,000港元減少約9.2%。本集團之混凝土拆卸服務所佔之收入由財政年度二零二二年約69,400,000港元減少約2.0%至財政年度二零二三年約68,000,000港元。本集團之裝配式建築所佔之收入由財政年度二零二二年約49

27、,200,000港元減少約19.5%至財政年度二零二三年約39,600,000港元。本集團於財政年度二零二三年錄得淨虧損約9,100,000港元，較財政年度二零二二年之淨虧損約2,700,000港元增加約237.0%。於財政年度二零二三年之每股基本虧損為0.97港仙，而財政年度二零二二年則為1.02港仙。業務回顧及前景在中美地緣政治局勢持續緊張及高利率的影響下，香港正面臨高度的外部不確定性。物業市場低迷，企業盈利預期疲弱，投資者信心不足，對經濟復甦造成拖累。在高利率及全球經濟放緩的雙重影響下，需求枯竭，因此香港的物業開發商在收購土地方面變得更加謹慎，並縮減建築項目的啟動。於財政年度二零二三年，

28、本集團之混凝土拆卸服務業務所佔之收入下降2.0%。本公司相信，困難的外圍環境將繼續對香港經濟構成壓力，未來數年的復甦之路仍充滿挑戰。5ANNUAL REPORT 2023 年報CEOSSTATEMENT首席執行官報告 中國正受到一系列外部經濟不利因素及國內增長不確定性的衝擊。受地緣政治緊張局勢、國內需求低迷及全球經濟放緩的影響，中國於二零二三年經歷艱難的復甦。中國的物業行業一直在經歷流動資金危機。眾多物業開發商受到持續債務危機的嚴重影響，債務償還仍然是物業開發商面臨的最大挑戰之一。於財政年度二零二三年，本集團之裝配式建築業務所佔之收入下降19.5%。儘管中國政府近期採取一些支持措施，但物業市場

29、仍然面臨增長基本面疲軟所帶來的強大阻力，包括投資流入不足及供過於求的問題。由於流動資金問題，中國眾多物業開發商陷入財務困境，決定推遲建築項目。然而，二零二四年伊始，中國物業市場出現好轉跡象，市場情緒開始轉向。本集團預計，在整體復甦過程中，物業市場將受到需求逐步改善的支撐。本集團致力推廣綠色建築。裝配式建築不但環保，而且更具效率及質量更高。本公司將積極探索在 一帶一路 倡議下拓展裝配式建築業務的商機，並將此作為海外擴張的重點領域。我們將繼續堅持 建設綠色世界 核心理念及重視質量、創新及效率的 綠色建築、綠色生活 思想，拓展本集團業務，從而提升利益相關者的權益並最大限度提升其價值。致謝本人謹代表本

30、集團，藉此機會感謝我們的董事們、經驗豐富的管理團隊、敬業的僱員及專業律師會計等專業團隊的堅定支持及承諾。我們亦衷心感謝我們的股東、客戶、供應商及政府當局對我們持續的支持及信任。首席執行官賴曉亮香港，二零二四年三月三十一日China is being whipsawed by a set of external economic headwinds and domestic growth uncertainties.China experienced a bumpy recovery in 2023 due to geopolitical tensions,sluggish domestic d

31、emand and a global economic slowdown.Chinas property sector has been going through a liquidity crisis.Many property developers are heavily exposed to the ongoing debt crisis and debt repayment remain one of the biggest challenges for property developers.For FY2023,revenue attributable to the Groups

32、prefabricated construction business dropped by 19.5%.Despite the recent support measures from China government,the property markets still face strong headwinds from weak growth fundamentals,including lack of investment inflow and oversupply problems.Many property developers in China were under finan

33、cial distress and decided to postpone construction projects due to liquidity problems.However,at the start of 2024,the property market in China showed sign of improvement and the market sentiment begins to turn.The Group expects the property market will be underpinned by a gradual improvement in dem

34、and in the overall recovery process.The Group devotes to promote the green building.Prefabricated construction is not only green but also be more efficient and even higher quality.The Company would actively explore business opportunities to expand the prefabricated construction business in the Belt

35、and Road Initiative as a key area for overseas expansion.We will continue to adhere to our core philosophy of“Building a Green World”and the ideology of“green building and green life”with quality,innovation and effectiveness and achieve our expansion of the Groups business with a view to optimizing

36、stakeholders interests and maximizing their value.APPRECIATIONOn behalf of the Group,I would like to take this opportunity to thank our Directors,our experienced management team,our dedicated employees,and our professional legal and accounting teams for their wavering support and commitment.We would

37、 also like to express appreciation for the continuing support and trust of our shareholders,clients,suppliers and government authorities.Lai XiaoliangChief Executive OfficerHong Kong,31 March 20246GLORY FLAME HOLDINGS LIMITED 朝威控股有限公司MANAGEMENT管理層討論及分析DISCUSSION AND ANALYSIS BUSINESS REVIEW The prin

38、cipal activity of the Company is investment holding.For the year ended 31 December 2023(the“Reporting Period”),the Group mainly engages in provision of concrete demolition services and manufacturing and trading of prefabricated construction components.Concrete demolition services Concrete demolition

39、 is one aspect of the construction industry in Hong Kong.The Groups concrete demolition services were mainly concerned with the removal of pieces or section of concrete from concrete structures by applying a variety of methods,such as core drilling,sawing,bursting and crushing.Concrete demolition se

40、rvices are usually performed by subcontractors in(i)general building works,especially for alteration and redevelopment projects;and(ii)civil engineering works.Concrete demolition work can be applied in various situations,such as the construction of underground utilities,creation of openings for elev

41、ator,door,and window installation,redevelopment of buildings,roads,tunnels and underground facilities,removal of concrete during building construction and the preparation of road surfaces.The customers of the Groups concrete demolition services mainly include main contractors and subcontractors of d

42、ifferent types of construction and civil engineering projects in Hong Kong.Such customers can generally be categorized into public sector projects customers and private sector projects customers.Public sector projects refer to projects of which the main contractors are employed by Government departm

43、ents or statutory bodies in Hong Kong,while private sector projects refer to projects that are not public sector projects.20232022二零二三年二零二二年HK$000HK$000千港元千港元Revenue from收入來自 private sector project私營界別項目32,29448,601 public sector project公營界別項目35,74220,77668,03669,377業務回顧本公司的主要活動為投資控股。截至二零二三年十二月三十一日止

44、年度（報告期），本集團主要從事提供混凝土拆卸服務以及裝配式預製建築組件製造及貿易?；炷敛鹦斗栈炷敛鹦缎袠I為香港建築行業特定領域之一。本集團的混凝土拆卸服務主要涉及透過採用各種方法，例如鑽取土芯、鋸切、逼裂及鉗碎等，移除混凝土結構的混凝土塊或組件?；炷敛鹦斗胀ǔ榉职天?i)一般建築工程，特別是改建及重建工程；及(ii)土木工程所進行運作?；炷敛鹦豆こ炭捎渺兜叵鹿苍O施建設、電梯開口、門窗安裝、樓宇、道路、隧道及地下設施重建、建築施工過程中混凝土拆除及路面製備。本集團的混凝土拆卸服務的客戶主要為香港各類建築及土木工程項目的總承建商及分包商。相關客戶一般可分類為公營及私營界別項目客戶

45、。公營界別項目指由香港政府部門或法定機構聘請總承建商的項目，而私營界別項目指非公營界別項目。7ANNUAL REPORT 2023 年報MANAGEMENTDISCUSSION AND ANALYSIS管理層討論及分析 裝配式建築裝配式建築是將傳統建築產品分拆成於工廠生產的預製鋼筋混凝土部件並運輸至施工現場組裝成完整建築的一種新型建築形式。預製混凝土非常耐用及節能，有助於綠色建築實踐。由於預製混凝土部件乃於工廠生產並採用精確的配料技術，裝配式建築亦減少施工現場的建築垃圾及瓦礫。由於項目時間壓縮、價格更實惠、建築技術更環保以及可以為偏遠地區提供服務的能力，裝配式建築在許多發展中國家越來越流行。城

46、市化和工業化的發展推動建造時間更短的可負擔城市住房的需求。本集團於中國惠州建立自己的生產設施及建築項目團隊，以負責製造及研發預製混凝土組件及玻璃纖維增強混凝土組件、產品安裝指導及銷售，主要服務於中國大灣區及香港的建築項目。Prefabricated construction Prefabricated construction is a new kind of architecture with the construction process that is splitting the traditional building products into precast reinforced

47、 concrete member produced in the factory and transported to the construction site for assembling into a whole building.Precast concrete contributes to green building practices as it can be very durable and energy efficient.Prefabricated construction also reduces construction waste and debris on cons

48、truction site as the precast concrete components are factory-made and employed by exact-batching technologies.Prefabricated constructions are becoming more popular in many developing countries,due to compressed project timelines,more affordable pricing,greener construction technology and the ability

49、 to service remote locations.Growth in urbanization and industrialization drive the demand in affordable urban housing that was built in a shorter construction time.The Group established its own production facilities and construction project team in Huizhou,the PRC for production,research and develo

50、pment of precast concrete components and glass fiber reinforced cement components,product installation guidance and sales which mainly serviced the construction projects in Greater Bay area of China and Hong Kong.8GLORY FLAME HOLDINGS LIMITED 朝威控股有限公司MANAGEMENTDISCUSSION AND ANALYSIS管理層討論及分析 FINANCI

51、AL REVIEW Revenue Revenue decreased by approximately HK$10.9 million or 9.2%from approximately HK$118.5 million for FY2022 to approximately HK$107.6 million for the Reporting Period.The analysis of revenue was shown as follows:20232022二零二三年二零二二年HK$000HK$000千港元千港元Revenue from收入來自 Provision of concret

52、e demolition and construction engineering services 提供混凝土拆卸及 建築工程服務 68,03669,377 Manufacturing and trading of prefabricated precast construction 製造及買賣裝配式 預製建築組件39,57049,156107,606118,533Provision of concrete demolition and construction engineering services For the Reporting Period,revenue attributabl

53、e to concrete demolition services was approximately HK$68.0 million,representing a decrease of approximately HK$1.4 million or 2.0%as compared with approximately HK$69.4 million for FY2022.The decrease was primarily due to a decrease of HK$16.3 million in revenue from private sector projects,but off

54、set by an increase of HK$14.9 million in revenue from public sector projects.Manufacturing and trading of prefabricated precast construction For the Reporting Period,revenue attributable to prefabricated construction was approximately HK$39.6 million,representing an decrease of approximately HK$9.6

55、million or 19.5%as compared with approximately HK$49.2 million for FY2022,primarily due to a slow recovery of the property sector in China.財務回顧收入收入由財政年度二零二二年約118,500,000港元減少約10,900,000港元或9.2%至報告期的約107,600,000港元。收入分析如下：提供混凝土拆卸及建築工程服務 於報告期內，混凝土拆卸服務所佔之收入為約68,000,000港元，較財政年度二零二二年約69,400,000港元減少約1,400,00

56、0港元或2.0%。該減少主要由於私營界別項目收入減少16,300,000港元，惟由公營界別項目收入增加14,900,000港元所抵銷。製造及買賣裝配式預製建築組件 於報告期內，裝配式建築所佔之收入為約39,600,000港元，較財政年度二零二二年約49,200,000港元減少約9,600,000港元或19.5%，主要由於中國物業行業復甦緩慢。9ANNUAL REPORT 2023 年報MANAGEMENTDISCUSSION AND ANALYSIS管理層討論及分析 毛利及毛利率毛利由財政年度二零二二年的35,400,000港元減少約1,700,000港元或4.8%至報告期約33,700,00

57、0港元。毛利率由財政年度二零二二年29.9%增至報告期內31.4%。增加主要由於混凝土拆卸服務所佔之毛利率由財政年度二零二二年的32.0%增加1.8百分點至報告期的33.8%所致。其他收入及其他收益淨額其他收入及其他收益淨額由財政年度二零二二年約8,500,000港元減少約3,500,000港元至報告期的約5,000,000港元。該減少主要由於：(i)與收回於二零一九年已悉數減值的若干長期未收其他應收款項有關之減值虧損撥回收益減少5,800,000港元；及被(ii)因於終止在內蒙古營運清潔煤貿易業務而取消註冊附屬公司之虧損減少1,200,000港元所抵銷。貿易應收款項之減值虧損淨額貿易應收款項

58、之減值虧損淨額由財政年度二零二二年約4,600,000港元減少700,000港元至報告期內約3,900,000港元。貿易應收款項之減值虧損淨額乃基於獨立合資格估值師進行的預期信貸虧損估值模型而評估。Gross Profit and Gross Profit Margin Gross profit decreased by approximately HK$1.7 million or 4.8%from approximately HK$35.4 million for FY2022 to approximately HK$33.7 million for the Reporting Perio

59、d.Gross profit margin increased from 29.9%for FY2022 to 31.4%for the Reporting Period.The increase was primarily due to an increase by 1.8 percentage points in gross profit margin attributable to concrete demolition services from 32.0%for FY2022 to 33.8%for the Reporting Period.Other Income and Othe

60、r Gains,Net Net other income and other gains,decreased by approximately HK$3.5 million from approximately HK$8.5 million for FY2022 to approximately HK$5.0 million for the Reporting Period.The decrease was primarily due to the combined effect of(i)a decrease in a gain of HK$5.8 million on reversal o

61、f impairment loss in respect of the recovery of certain long outstanding other receivable that had been fully impaired in year 2019;and offset by(ii)a decrease in a loss of HK$1.2 million on deregistration of subsidiaries which had ceased their businesses in trading of clean coal in Inner Mongolia.I

62、mpairment Losses on Trade Receivables,NetNet impairment losses on trade receivables decreased by HK$0.7 million from approximately HK$4.6 million for FY2022 to approximately HK$3.9 million for the Reporting Period.The net impairment losses on trade receivable was assessed based on the expected credi

63、t loss valuation model performed by an independent qualified valuer.10GLORY FLAME HOLDINGS LIMITED 朝威控股有限公司MANAGEMENTDISCUSSION AND ANALYSIS管理層討論及分析 行政及其他營運開支行政及其他營運開支由財政年度二零二二年約35,900,000港元增加約800,000港元至報告期約36,700,000港元。該增加主要因為報告期的員工成本增加約1,100,000港元所致。本公司擁有人應佔虧損由於上述原因，於報告期內，本公司擁有人應佔虧損約為9,800,000港元，較

64、財政年度二零二二年的本公司擁有人應佔虧損10,300,000港元減少約500,000港元。流動資金、財務資源及資本結構 於二零二三年十二月三十一日，本集團有現金及銀行存款約36,200,000港元（二零二二年：約36,300,000港元）。於二零二三年及二零二二年十二月三十一日，本集團的資產負債比率（定義為借貸總額（包括計息及不計息）除以本集團權益總額）並不適用，因本集團的總權益為負數。庫務政策本集團已對其庫務政策採取審慎的財務管理方針，故在整個報告期內達致維持穩健的流動資金狀況。本集團致力透過進行持續的信貸評估及評估其客戶的財務狀況以降低信貸風險。為管理流動資金風險，董事會密切監視本集團的流

65、動資金狀況，以確保本集團資產、負債及其他承擔的流動資金架構可時而符合其資金要求。Administrative and Other Operating Expenses Administrative and other operating expenses increased by approximately HK$0.8 million from approximately HK$35.9 million for FY2022 to approximately HK$36.7 million for the Reporting Period.Such increase was primaril

66、y due to an increase of approximately HK$1.1 million in staff costs for the Reporting Period.Loss Attributable to Owners of the Company After a result of the foregoing,the Groups loss attributable to owners of the Company was approximately HK$9.8 million for the Reporting Period,representing a decre

67、ase of approximately HK$0.5 million as compared to a loss of HK$10.3 million attributable to owners of the Company for FY2022.Liquidity,Financial Resources and Capital Structure As at 31 December 2023,the Group had cash and bank deposits of approximately HK$36.2 million(2022:approximately HK$36.3 mi

68、llion).The gearing ratio of the Group as at 31 December 2023 and 2022(defined as total borrowings including interest bearing and non-interest bearing,divided by the Groups total equity)is not applicable due to negative total equity of the Group.Treasury Policy The Group has adopted a prudent financi

69、al management approach towards its treasury policies and thus maintained a healthy liquidity position throughout the Reporting Period.The Group strives to reduce exposure to credit risk by performing ongoing credit assessments and evaluations of the financial status of its customers.To manage liquid

70、ity risk,the Board closely monitors the Groups liquidity position to ensure that the liquidity structure of the Groups assets,liabilities and other commitments can meet its funding requirements from time to time.11ANNUAL REPORT 2023 年報MANAGEMENTDISCUSSION AND ANALYSIS管理層討論及分析 外匯風險本集團主要在香港及中國經營業務。本集團

71、承受美元及人民幣等外幣之外匯匯率波動。由於港元及美元仍在既定範圍內保持聯繫匯率，本集團並無承受任何重大美元外匯風險。本集團有若干附屬公司於中國內地營運，大部分交易（包括收入、開支及其他融資活動）以人民幣計值。本集團並未就該等外幣承受重大外匯交易風險，亦無就該等外幣訂立任何外匯合約作為對沖措施。所持重大投資於二零二三年及二零二二年十二月三十一日，本集團概無持有任何重大投資。債務及資產抵押於二零二三年十二月三十一日，本集團的借貸（包括無抵押定息債券及其他貸款）總額約為76,200,000港元（二零二二年：約76,200,000港元）。於報告期內，借貸的年利率介乎每年4.6%至12.0%（二零二二年

72、：每年4.2%至12.0%）之間。所有借貸為無抵押及以港元及人民幣計值。46,900,000港元的借貸須於一年內償還，並入賬列作本集團的流動負債；而 29,300,000港元的借貸須於超過一年後償還，並入賬列作非流動負債。資本承擔於二零二三年十二月三十一日，本集團並無重大資本承擔（二零二二年：無）。有關重大投資或資本資產的未來計劃 除本年報所披露者外，於二零二三年十二月三十一日，本集團並無任何關於重大投資或資本資產的其他特別計劃。Foreign Exchange Risk The Group principally operates its businesses in Hong Kong an

73、d the PRC.The Group is exposed to foreign exchange fluctuations from various currencies,such as United States dollars and Chinese Renminbi.Since Hong Kong dollars remains pegged to the United States dollars within a defined range,the Group is not exposed to any significant foreign exchange risk agai

74、nst the United States dollars.The Group has certain subsidiaries operating in mainland China,in which most of their transactions,including revenue,expenses and other financing activities,are denominated in Chinese Renminbi.The Group is not exposed to any significant foreign exchange transaction risk

75、 in relation to these currencies and had not entered into any foreign exchange contract as hedging measures against these currencies.Significant Investment Held As at 31 December 2023 and 2022,there were no material investment held by the Group.Debts and Charge on Assets As at 31 December 2023,the t

76、otal borrowings of the Group,including unsecured fixed bonds and other loan,amounted to approximately HK$76.2 million(2022:approximately HK$76.2 million).The annual interest rates of the borrowings during the Reporting Period ranged from 4.6%to 12.0%per annum(2022:4.2%to 12.0%per annum).All of the b

77、orrowings are unsecured and denominated in Hong Kong dollars and Chinese Renminbi.The borrowings of HK$46.9 million were repayable within one year which was accounted for as current liabilities of the Group and the borrowings of HK$29.3 million were repayable over one year which was accounted for as

78、 non-current liabilities.Capital Commitments The Group does not have material capital commitments as at 31 December 2023(2022:Nil).Future plans for material investment or capital assets Save as disclosed in the annual report,the Group does not have any other specific plan for material investments or

79、 capital assets as at 31 December 2023.12GLORY FLAME HOLDINGS LIMITED 朝威控股有限公司MANAGEMENTDISCUSSION AND ANALYSIS管理層討論及分析 或然負債於二零二三年十二月三十一日，本集團並無重大或然負債（二零二二年：無）。僱員及薪酬政策於二零二三年十二月三十一日，本集團共有96名員工（二零二二年：98名員工）。報告期內僱員成本總額包括董事酬金，約為42,100,000港元（二零二二年：約41,000,000港元）。本集團僱員的薪金及福利水平均具競爭力，而由於建築行業整體上一直面臨勞工短缺，故此具競爭

80、力的薪金及福利水平十分重要。僱員根據個人表現透過本集團薪金及花紅制度獲得回報。此外，本集團為僱員提供足夠在職培訓，以便讓僱員備有實用知識及技能，處理不同工作場所遭遇的情況及挑戰。末期股息董事會並不建議就報告期向股東派發末期股息（二零二二年：無）。董事就保留意見的回應 本公司核數師（核數師）就本公司截至二零二三年十二月三十一日止年度的綜合財務報表發出保留意見（審核修訂），詳情載於本年報第96至104頁所載獨立核數師報告 保留意見的基礎 一段。Contingent Liabilities The Group had no material contingent liabilities as at

81、31 December 2023(2022:Nil).Employee and Remuneration Policies As at 31 December 2023,the Group employed 96 staff(2022:98 staff).Total employee costs for the Reporting Period including directors emoluments,amounted to approximately HK$42.1 million(2022:approximately HK$41.0 million).The salary and be

82、nefit levels of the employees of the Group are competitive.This is very important as the construction industry has been experiencing labour shortage in general.Individual performance of our employees is rewarded through the Groups salary and bonus system.In addition,the Group provides adequate job t

83、raining to employees in order to equip them with practical knowledge and skills to tackle situations and challenges encountered in diverse work sites.Final Dividend The Board does not recommend payment of final dividend to Shareholders for the Reporting Period(2022:Nil).RESPONSE FROM THE DIRECTORS R

84、EGARDING THE QUALIFIED OPINIONThe auditor of the Company(the“Auditor”)issued a qualified opinion on the Companys consolidated financial statements for the year ended 31 December 2023(the“Audit Modifications”),the details of which were described in the paragraph headed“Basis for Qualified Opinion”of

85、the independent auditors report set out on pages 96 to 104 in this annual report.13ANNUAL REPORT 2023 年報MANAGEMENTDISCUSSION AND ANALYSIS管理層討論及分析 管理層對主要判斷領域的立場和依據 核數師已要求提供有關本公司先前向其預付款項的供應商（供應商）的財務狀況的證明文件，以確定於二零二一年十二月三十一日應收供應商款項人民幣19,100,000元（拖欠餘額）的可收回性。本公司曾試圖自供應商處獲取最新的財務報表，但被告知該等資料屬於機密，不能公開。本公司已向核數師

86、轉達其經與供應商多次討論後了解的情況。據本公司所知，鑒於不利的財務狀況、市場情況及與供應商活動有關的市場資訊評估，本公司認為，於二零二一年十二月三十一日，拖欠餘額很可能無法收回。核數師認為，彼等無法執行必要的核數程序，以充分保證是否應於截至二零二一年十二月三十一日止年度內確認人民幣19,100,000元的全額減值。由於本年及相應數字的可比性可能因上述事宜而受到影響，因此，審核修訂繼續適用於本公司截至二零二三年十二月三十一日止年度的財務報表。審核委員會對審核修訂的看法 審核委員會已審閱管理層對審核修訂的立場，並表示同意。Managements position and basis on majo

87、r judgmental areasThe auditor has requested the supporting documents about the financial position of the supplier whom the Company made previously a prepayment to(the“Supplier”)for ascertaining the recoverability of the receivable amount of RMB19,100,000 from the Supplier(the“Default Balance”)as at

88、31 December 2021.The Company has tried to obtain the latest financial statements from the Supplier but was told that such information was confidential and could not be released.The Company has relayed to the auditor its understanding gained from various discussions with the Supplier.The Company,to t

89、he best knowledge,considers that the Default Balance would likely be irrecoverable as at 31 December 2021 in view of the unfavourable financial situation,market situation and market intelligence valuation in relation to the activities of the Supplier.The auditor considers that they were unable to ca

90、rry out the audit procedures necessary to obtain adequate assurance as to whether the full impairment of RMB19,100,000 should be recognised during the year ended 31 December 2021.As a result,the audit modification would continue to apply to the Companys financial statements for the year ended 31 Dec

91、ember 2023 in relation to the comparability of the current years and the corresponding figures.Audit committees view towards the Audit ModificationsThe Audit Committee has reviewed the managements position concerning the Audit Modification,and it agrees with the same.14GLORY FLAME HOLDINGS LIMITED 朝

92、威控股有限公司MANAGEMENTDISCUSSION AND ANALYSIS管理層討論及分析 本公司處理審核修訂的行動計劃 本公司不時與供應商聯繫，以了解其財務狀況，並試圖自供應商獲得其財務報表及其他財務資料，惟本公司獲供應商告知，出於保密原因，不會披露該等資料。本公司已委任一名獨立合資格估值師，以評估於二零二二年及二零二三年十二月三十一日自供應商收回其他應收款餘額的可能性。拖欠餘額長期未清償，核數師信納對拖欠餘額於二零二二年及二零二三年十二月三十一日的可收回性評估。本公司將繼續聘請獨立合資格估值師評估於二零二四年十二月三十一日應收供應商款項餘額的可收回性，而倘若與本公司的評估並無重大差異

93、，預計於截至二零二四年十二月三十一日止年度的有關上述審核修訂將被取消。自刊發上一年度業績以來，本公司一直在積極磋商各種收回拖欠餘額的方案。本公司已盡最大努力與供應商討論未來項目的可能合作以及相關資金及或還款事宜。本公司自供應商了解到，鑒於投資者可能為供應商的新項目提供資金，供應商將能夠與本公司一起制定還款時間表。磋商仍在進行中，惟尚未有結果。鑒於磋商仍在進行，本公司現階段尚未對供應商採取法律行動。本公司不排除採取法律行動以收回拖欠餘額?？紤]到本公司的行動計劃，並基於在截至二零二四年十二月三十一日止年度的審核完成前，不會有任何重大因素將導致管理層對減值的看法出現差異，經與本公司的核數師商討後，本

94、公司預計審核修訂將於截至二零二四年十二月三十一日止年度的核數師報告中刪除。The Companys action plan to address the Audit ModificationsThe Company has from time to time liaised with the Supplier to gain an understanding of its financial situation and has also tried to obtain from the Supplier its financial statements and other financial

95、information,and the Company has been told by the Supplier that such information would not be disclosed due to confidentiality reason.The Company has appointed an independent qualified valuer to assess the recoverability of the other receivable balance from the Supplier as at 31 December 2022 and 202

96、3.The Default Balance has been long outstanding and the auditor was satisfied with the assessment of the recoverability of the Default Balance as at 31 December 2022 and 2023.The Company will continue to engage an independent qualified valuer to assess the recoverability of the receivable balance fr

97、om the Supplier as at 31 December 2024 and if theres no material difference against the Companys assessment,it was expected that the audit modification in relation to the aforesaid matter will be removed for the year ending 31 December 2024.Since the publication of the prior year results,the Company

98、 has been actively negotiating with various proposals for recovering the Default Balance.The Company has,at its best endeavors,discussed with the Supplier about possible cooperations in future projects and related fundings and/or repayments.The Company understands from the Supplier that,in view of t

99、he possible funding from the investors for the Suppliers new project,the Supplier would be in position to come up with a repayment timetable with the Company.The negotiation is still on progress and the outcome has yet to materialize.In view of the ongoing negotiation,the Company has not taken legal

100、 action against the Supplier at this stage.The Company does not rule out taking legal action to recover the Default Balance.Taking into consideration the Companys action plan and on the basis that until the completion of the audit for the year ending 31 December 2024 there would be no material facto

101、rs which will cause the management views on the impairment to differ,after discussion with the Companys auditors,the Company expects the audit modification would be removed in the auditors report for the year ending 31 December 2024.15ANNUAL REPORT 2023 年報EXECUTIVE DIRECTOR Mr.Zhong Zhiwei,aged 37,h

102、as been appointed as an executive Director and an authorised representative of the Company with effect from 22 March 2024.He has over 10 years of experience working in business consulting services and investment advisory.He was a general manager of Investor Relations Department of HF Financial Group

103、(China)Limited（匯富金融集團（中國）有限公司）from September 2013 to October 2018.He was an executive director of Yingdali Management Consulting(Shenzhen)Co.,Ltd*（英達利管理諮詢（深圳）有限公司）and Yingdali Culture Communication(Shenzhen)Co.,Ltd*（英達利文化傳播（深圳）有限公司）from November 2018 to December 2022.He holds a diploma of Business a

104、nd Enterprise Management(工商企業管理）from The Open University of China(國家開放大學).*for identification purpose only執行董事鍾志偉先生，37歲，自二零二四年三月二十二日起獲委任為本公司執行董事兼授權代表。彼於商業諮詢服務及投資顧問領域擁有逾10年工作經驗。彼於二零一三年九月至二零一八年十月擔任匯富金融集團（中國）有限公司投資者關係部總經理。於二零一八年十一月至二零二二年十二月，彼擔任英達利管理諮詢（深圳）有限公司及英達利文化傳播（深圳）有限公司的執行董事。鍾先生持有國家開放大學工商企業管理文憑。*僅

105、供識別BIOGRAPHICAL DETAILS OF董事及高級管理層履歷詳情DIRECTORS AND SENIOR MANAGEMENT 16GLORY FLAME HOLDINGS LIMITED 朝威控股有限公司BIOGRAPHICAL DETAILS OF DIRECTORS AND SENIOR MANAGEMENT MANAGEMENT董事及高級管理層履歷詳情 獨立非執行董事曹洪民先生，53歲，為獨立非執行董事。曹先生擁有蘭州大學法學學士及經濟學碩士及中國農業大學管理學博士學位。曹先生亦於北京大學進行歷史學博士後研究。曹先生擁有多個職位，包括五火（深圳）智慧城市安全科技有限公司之董

106、事長、深圳市賦智公益基金會之理事長、北京湯用彤書院中國農村發展研究院之院長及西安交通大學東方管理研究院之教授。陳志斌先生，39歲，為獨立非執行董事。陳先生於二零零九年七月取得香港城市大學的中國商業工商管理學士學位。彼於二零一八年四月取得地產代理監管局頒授的地產代理營業員牌照以及持有保險代理人牌照。陳先生現為香港一間移民顧問公司的副主任。彼亦已於二零一七年加入一間香港金融服務公司，主要負責向客戶銷售保險產品。李嘉輝先生，59歲，為獨立非執行董事。李先生於一九九二年十一月獲香港城市理工學院頒授會計學文學士學位，並自一九九七年九月起成為香港會計師公會會員。李先生一直為高豐集團控股有限公司（高豐，其股

107、份於香港聯合交易所有限公司（聯交所）主板上市之公司，股份代號：2863）之非執行董事。*僅供識別INDEPENDENT NON-EXECUTIVE DIRECTORS Mr.Cao Hongmin,aged 53,is an independent non-executive Director.Mr.Cao holds a Bachelor of Laws and a Master of Economics from Lanzhou University(蘭州大學)and a Doctor of Management from China Agricultural University.Mr.

108、Cao has also undertaken post-doctoral research in history from Peking University.Mr.Cao holds positions including chairman of the board of director of Wuhuo(Shenzhen)Smart City Security Sci-tech Co.,Ltd.*(五火(深圳)智慧城市安全科技有限公司,chairman of Shenzhen Fuzhi Public Welfare Foundation*(深圳市賦智公益基金會）,department

109、 head and professor of China Rural Development Research Institute*of the Beijing TangYongtong College*(北京湯用彤書院中國農村發展研究院)and Professor of Oriental Management Research Institute,Xian Jiaotong University.Mr.Chan Chi Pan,aged 39,is an independent non-executive Director.Mr.Chan obtained a Bachelor of Bus

110、iness Administration in China Business from City University of Hong Kong in July 2009.He holds an estate agency salespersons licence granted by the Estate Agents Authority in April 2018 and an insurance agent licence.Mr.Chan is now currently serving as a deputy director at an immigration consultancy

111、 company in Hong Kong.He has also joined a Hong Kong financial services company in 2017 and is mainly responsible for selling insurance products to customers.Mr.Li Kar Fai Peter,aged 59,is an independent non-executive Director.Mr.Li obtained a Bachelor of Arts degree in Accountancy from the City Pol

112、ytechnic of Hong Kong in November 1992,and has become an associate member of The Hong Kong Institute of Certified Public Accountants since September 1997.Mr.Li has been a non-executive director of Golden Faith Group Holdings Limited(stock code:2863)(“Golden Faith”),a company of which its shares are

113、listed on the Main Board of The Stock Exchange of Hong Kong Limited(the“Stock Exchange”).*for identification purpose only17ANNUAL REPORT 2023 年報BIOGRAPHICAL DETAILS OF DIRECTORS AND SENIOR MANAGEMENT MANAGEMENT董事及高級管理層履歷詳情 高級管理層賴曉亮先生，49歲，為本集團首席執行官。賴先生於一九九八年取得廣東外語外貿大學英語專業學士學位及國際金融的專業證書。彼曾擔任中國廣東國際合作集團

114、海外農業科技合作項目的負責人。賴先生亦曾擔任一間外資獵頭公司華南地區的總經理以及一間房地產策略諮詢機構的高級顧問。賴先生現為新天地控股（深圳）有限公司之董事以及湖北凱瑞百穀農業科技股份有限公司之董事長。*僅供識別SENIOR MANAGEMENT Mr.Lai Xiaoliang,aged 49,is chief executive officer of the Group.Mr.Lai obtained a Bachelors Degree in English and a professional certificate in international finance from Guan

115、gdong University of Foreign Studies in 1998.He was the head of overseas agricultural technology cooperation project of China Guangdong International Cooperation Group*(中國廣東國際合作集團).Mr.Lai was also the general manager of a foreign headhunting company in the South China region and a senior consultant o

116、f a real estate strategy consulting agency.Mr.Lai is currently a director of New World Holdings(Shenzhen)Co.,Ltd*(新天地控股(深圳)有限公司)and chairman of Hubei Bio-great Agricultural Technology Co.,Ltd*(湖北凱瑞百穀農業科技股份有限公司).*for identification purpose only18GLORY FLAME HOLDINGS LIMITED 朝威控股有限公司CORPORATE企業管治報告GOV

117、ERNANCE REPORT The Board is pleased to present hereby the corporate governance report of the Company for the Reporting Period.The Directors and the management of the Group recognize the importance of sound corporate governance to the long-term and continuing success of the Group.Therefore,the Board

118、is committed to upholding good corporate standards and procedures for the best interest of the Companys shareholders.COMPLIANCE WITH THE CORPORATE GOVERNANCE CODE The Corporate Governance Code(the“Code”)in Appendix 15 to the GEM Listing Rules sets out the principles of good corporate governance,code

119、 provisions and recommended best practices.Issuers are expected to comply with the code provisions or devise their own code on corporate governance on the terms they consider appropriate provided that considered reasons are given.Throughout the Reporting Period,save as disclosed below,the Company ha

120、d complied with the applicable code provisions of the Code with the exception of the deviations as explained:C.1.8 Appropriate insurance cover in respect of legal action against the Directors The Code provision C.1.8 stipulates that the Company should arrange appropriate insurance cover in respect o

121、f legal action against the Directors.The Company does not have insurance cover in this respect because the Board believes that the Directors risk of being sued or getting involved in litigation in their capacity as Directors is relatively low.The Board will review the need for taking out this sort o

122、f insurance from time to time.F.2.2 Attendance of Chairman in Annual General Meeting The Code provision F.2.2 stipulates that the chairman of the Board should attend the annual general meeting.The chairman of the Company,Mr.Liu Yingjie,was unable to attend the annual general meeting held on 8 June 2

123、023 due to other business commitments.The Board elected an independent non-executive Director,Mr.Li Kar Fai,Peter,to chair the annual general meeting.董事會欣然提呈本公司於報告期的企業管治報告。本集團董事及管理層肯定健全企業管治對本集團長遠持續取得成功極為重要。因此，為了本公司股東的最佳利益，董事會一直致力維持優良企業標準及程序。遵守企業管治守則 GEM上市規則附錄15內的企業管治守則（守則）載列良好企業管治的原則、守則條文及建議最佳常規。發行人

124、須遵守守則條文或在企業管治上按彼等認為合適的條款設立其自身的守則，惟須作出合理解析。於報告期內，除下文披露者外，本公司一直遵守守則的適用守則條文，有關偏離之例外情況闡釋如下：C.1.8應就董事可能會面對之法律行動作適當的投保安排守則條文第C.1.8條規定，本公司應就其董事可能會面對之法律行動作適當投保安排。董事會相信，各董事因其董事身份而被控告或牽涉於訴訟之風險偏低，因此本公司並無就此作投保安排。董事會將不時檢討此類保險需求。F.2.2董事會主席出席股東週年大會 守則條文第F.2.2條規定，董事會主席應出席股東週年大會。由於其他業務安排，本公司董事會主席劉英杰先生未能出席二零二三年六月八日舉行

125、的股東週年大會。董事會選舉獨立非執行董事李嘉輝先生主持股東週年大會。19ANNUAL REPORT 2023 年報CORPORATEGOVERNANCE REPORT 企業管治報告 董事會董事會的主要職責包括制訂本集團的整體策略、訂立管理目標，以及監察管理層的表現。管理層獲董事會分派有關本集團管理及行政的授權和責任。此外，董事會已將各職責分派予本公司董事委員會（董事委員會）。有關董事委員會的進一步詳情載於本年度報告。根據職權範圍，董事會須履行的企業管治職責如下：1.制定及檢討本集團的企業管治政策及常規，並提出建議；2.檢討及監察董事及高級管理人員的培訓及持續專業發展；3.檢討及監察本集團在遵守

126、法律及監管規定方面的政策及常規；4.制定、檢討及監察適用於董事及僱員的操守準則及合規手冊（如有）；及5.檢討本公司遵守守則的情況及在本公司企業管治報告內的披露。BOARD OF DIRECTORS The key responsibilities of the Board include formulation of the Groups overall strategies,the setting of management targets and supervision of management performance.The management is delegated with t

127、he authority and responsibility by the Board for the management and administration of the Group.In addition,the Board has also delegated various responsibilities to the board committees of the Company(the“Board Committee”).Further details of the Board Committees are set out in this annual report.Und

128、er the terms of reference,the duties of the Board in respect of corporate governance are as follows:1.to develop and review the policies and practices on corporate governance of the Group and make recommendations;2.to review and monitor the training and continuous professional development of Directo

129、rs and senior management;3.to review and monitor the Groups policies and practices on compliance with legal and regulatory requirements;4.to develop,review and monitor the code of conduct and compliance manual(if any)applicable to Directors and employees;and 5.to review the Companys compliance with

130、the Code and disclosure in the corporate governance report of the Company.20GLORY FLAME HOLDINGS LIMITED 朝威控股有限公司CORPORATEGOVERNANCE REPORT 企業管治報告 董事會組成於報告期內及直至本報告日期，董事會組成載列如下：執行董事鍾志偉先生（於二零二四年三月二十二日獲委任）劉英杰先生（於二零二四年三月二十二日辭任）Zhou Jin女士（於二零二三年七月十八日辭任）獨立非執行董事曹洪民先生陳志斌先生李嘉輝先生本公司於截至二零二三年十二月三十一日止年度遵守GEM上市規則

131、第5.05(1)條及第5.05A條之規定。本公司已根據 GEM上市規則第 5.09條向各獨立非執行董事作出特定查詢，以確認彼等的獨立性。就此而言，本公司已獲得全體獨立非執行董事的正面確認。根據所獲確認，本公司認為，根據 GEM上市規則，全體獨立非執行董事均屬獨立人士。為確保董事會可獲得獨立觀點及意見，董事會已根據守則條文第 B.1.4條成立機制，董事會應每年進行審閱以確保有關機制之實施及有效性。機制之概述載列如下：1)董事會應確保委任至少三名獨立非執行董事，以及至少三分之一成員為獨立非執行董事。2)獨立非執行董事候選人必須符合GEM上市規則項下之獨立性要求。各獨立非執行董事倘個人資料出現任何變

132、動而可能對其獨立性造成重大影響，則亦須在實際可行情況下盡快通知本公司，並根據 GEM上市規則須就其獨立性提供年度確認書。Composition of the Board During the Reporting Period and up to the date of this report,the composition of the Board is set out as follows:Executive Director Mr.Zhong Zhiwei(appointed on 22 March 2024)Mr.Liu Yingjie(resigned on 22 March 2024

133、)Ms.Zhou Jin(resigned on 18 July 2023)Independent Non-executive Director Mr.Cao Hongmin Mr.Chan Chi Pan Mr.Li Kar Fai,Peter The Company complied with the requirement under Rule 5.05(1)and Rule 5.05A of the GEM Listing Rules throughout the year ended 31 December 2023.Specific enquiry has been made by

134、 the Company to each of the independent non-executive Directors to confirm their independence pursuant to Rules 5.09 of the GEM Listing Rules.In this connection,the Company has received positive confirmations from all of the independent non-executive Directors.Based on the confirmations received,the

135、 Company is of the view that all independent non-executive Directors are independent under the GEM Listing Rules.The Board has established mechanisms pursuant to Code provision B1.4 to ensure independent views and input are available to the Board,which the Board shall review on an annual basis to en

136、sure the implementation and effectiveness of such mechanisms.A summary of the mechanism is set out below:1)the Board shall ensure the appointment of at least three INEDs and at least one-third of its members being INED.2)the INED candidate must satisfy the independence requirements under the GEM Lis

137、ting Rules.Each INED is also required to inform the Company as soon as practicable if there is any change in his or her own personal particulars that may materially affect his or her independence and provide an annual confirmation of his or her independence pursuant to the GEM Listing Rules.21ANNUAL

138、 REPORT 2023 年報CORPORATEGOVERNANCE REPORT 企業管治報告 3)本公司致力確保獨立非執行董事將獲機會及渠道讓董事向董事會及其委員會傳達及表達其獨立意見及觀點。除本年報 董事及高級管理層履歷詳情 一節所披露者外，董事會成員及高級管理層之間概無財務、業務、親屬或其他重大或關連關係。董事會及股東大會董事會定期舉行會議以討論本集團之整體策略、業務及財務表現。董事可親身或透過電子通訊的形式出席會議。於報告期內，董事會舉行了15次會議及1次股東大會。各董事出席董事會會議及股東大會的記錄載列如下：3)The Company is committed to ensurin

139、g that the INEDs will be given the opportunity and channel for Directors to communicate and express their independent views and inputs to the Board and its committees.Save as disclosed in the section of“Biographical Details of the Directors and Senior Management”in this annual report,there is no fin

140、ancial business,family or other material or relevant relationship among members of the Board and senior management.Board and General Meetings The Board meets regularly to discuss the overall strategy as well as operation and financial performance of the Group.Directors may participate either in pers

141、on or through electronic means of communications.During the Reporting Period,the Board had 15 meetings and 1 general meetings.The attendance of the respective Directors at the Board meetings and general meetings are set out below:Attendance/Number of meetings出席召開會議次數Board meetingGeneralmeeting董事會會議股

142、東大會Executive Director執行董事 Mr.Liu Yingjie劉英杰先生 14/150/1Ms.Zhou JinZhou Jin女士 5/70/1Independent Non-executive Director獨立非執行董事 Mr.Cao Hongmin曹洪民先生13/150/1 Mr.Chan Chi Pan陳志斌先生13/150/1Mr.Li Kar Fai,Peter李嘉輝先生13/151/122GLORY FLAME HOLDINGS LIMITED 朝威控股有限公司CORPORATEGOVERNANCE REPORT 企業管治報告 董事進行證券交易的操守守則 本

143、公司已採納 GEM上市規則第5.48至5.67條所載的規定準則作為董事就本公司股份進行證券交易的操守守則（操守守則）。經本公司向全體董事作出特定查詢，全體董事已確認，彼等於整個報告期內一直全面遵守操守守則所載的規定買賣準則，以及本公司並不知悉董事於整個報告期內有任何不遵守該等有關證券交易的規定買賣標準的情況。董事的持續專業發展計劃 本集團肯定董事獲得足夠及充份持續專業發展對健全而行之有效的內部監控系統及企業管治的重要性。為此，本集團一直鼓勵董事出席有關培訓課程，以獲取有關企業管治的最新消息及知識。CODE OF CONDUCT FOR SECURITIES TRANSACTIONS BY DI

144、RECTORS The Company has adopted the required standard of dealings set out in Rules 5.48 to 5.67 of the GEM Listing Rules as the code of conduct regarding securities transactions by Directors in respect of the shares of the Company(the“Code of Conduct”).After specific enquiries of all the Directors b

145、y the Company,all Directors have confirmed that they have fully complied with the required standard of dealing set out in the Code of Conduct throughout the Reporting Period,and the Company was not aware of any non-compliance with such required standard of dealings regarding securities transactions

146、by Directors throughout the Reporting Period.DIRECTORS CONTINUING PROFESSIONAL DEVELOPMENT PROGRAMME The Group acknowledges the importance of adequate and ample continuing professional development for the Directors for a sound and effective internal system and corporate governance.In this regard,the

147、 Group has always encouraged our Directors to attend relevant training courses to receive the latest news ad knowledge regarding corporate governance.23ANNUAL REPORT 2023 年報CORPORATEGOVERNANCE REPORT 企業管治報告 根據守則條文第C.1.4條，全體董事應參與持續專業發展，以發展及更新其知識及技能。董事已持續獲得與其職責有關的相關法律、規則及規章的修訂或更新的閱讀材料。本公司鼓勵全體董事出席廣泛的培訓

148、課程，內容有關GEM上市規則中涉及良好企業管治常規的最新資料。本公司將按需要為董事提供適時及定期培訓，以確保彼等緊跟 GEM上市規則的最新規定。本集團亦已採納一項政策，實報實銷董事就任何企業管治及內部監控所產生相關培訓費用及開支。培訓類型：A：參加研討會會議論壇 B：閱讀有關一般業務、風險管理、監管更新以及董事職責及責任之書籍、期刊及更新資料。According to the Code provision C.1.4,all Directors should participate in continuous professional development to develop and re

149、fresh their knowledge and skills.The Directors,on an ongoing basis,have been provided with reading materials in relation to amendments to or updates on relevant laws,rules and regulations relevant to their duties.The Company has encouraged all Directors to attend a wide range of training courses on

150、the updates of the GEM Listing Rules concerning good corporate governance practices.The Company will,if necessary,provide timely and regular trainings to the Directors to ensure that they are kept abreast of the latest requirements under the GEM Listing Rules.The Group has also adopted a policy to r

151、eimburse the Directors for any relevant training costs and expenses incurred concerning corporate governance and internal control.Name of DirectorsType of trainings董事姓名培訓類型Mr.Liu Yingjie劉英杰先生BMs.Zhou JinZhou Jin女士BMr.Cao Hongmin曹洪民先生BMr.Chan Chi Pan陳志斌先生BMr.Li Kar Fai,Peter李嘉輝先生A+BMr.Zhong Zhiwei鍾志偉

152、先生BType of trainings:A:attending seminars/conferences/forums B:reading books,journals and updates relating to the general business,risk management,regulatory updates and directors duties and responsibilities.24GLORY FLAME HOLDINGS LIMITED 朝威控股有限公司CORPORATEGOVERNANCE REPORT 企業管治報告 董事委員會董事會已根據相關GEM上市規

153、則成立若干功能性委員會，以協助董事會履行職務，現時已成立三個委員會，即審核委員會（審核委員會）、提名委員會（提名委員會）及薪酬委員會（薪酬委員會）。該等委員會的職能及職責載於相關職權範圍，該等職權範圍的嚴格程度不遜於守則所列者。三個委員會各自的相關職權範圍可於本集團網站(www.gf-)及聯交所網站查閱。本集團已向所有委員會提供充足資源及支援，以履行委員會職責。審核委員會本公司於二零一四年八月二日設立審核委員會，並遵照 GEM上市規則第5.28至5.33條及守則條文第 D.3.3及D.3.7條的規定訂明其職權範圍。審核委員會大部份成員須為獨立非執行董事並須由獨立非執行董事擔任主席。倘若審核委員

154、會任何成員不再為董事，其將自動不再為審核委員會的成員。審核委員會須包括最少三名成員，其中至少一名獨立非執行董事具有GEM上市規則第5.05(2)條所規定的適當專業資格或會計或相關財務管理專長。此外，審核委員會大部分應為獨立非執行董事。於本報告日期，審核委員會由三名成員組成，即李嘉輝先生（主席）、陳志斌先生及曹洪民先生。本公司於截至二零二三年十二月三十一日止年度期間一直遵守GEM上市規則第5.28條的規定。BOARD COMMITTEES The Board has established a number of functional committees in compliance with

155、the relevant GEM Listing Rules and to assist the Board to discharge its duties.Currently,three committees has been established,i.e.the audit committee(the“Audit Committee”),the nomination committee(the“Nomination Committee”)and the remuneration committee(the“Remuneration Committee”).The function and

156、 responsibilities of these committees have been set out in the relevant terms of reference which are of no less stringent than that stated in the Code.The relevant terms of reference of each of the three can be found on the Groups website(www.gf-)and the website of the Stock Exchange.All committees

157、have been provided with sufficient resources and support from the Group to discharge their duties.AUDIT COMMITTEE The Company has established the Audit Committee on 2 August 2014 with its terms of reference in compliance with Rules 5.28 to 5.33 of the GEM Listing Rules,and provisions D.3.3 and D.3.7

158、 of the Code.The majority of the Audit Committee members must be independent non-executive Directors and must be chaired by an independent non-executive Directors.If any member of the Audit Committee ceases to be a Director,he/she will cease to be a member of the Audit Committee automatically.The Au

159、dit Committee must comprise a minimum of three members,at least one of whom is an independent non-executive Director with appropriate professional qualification or accounting or related financial management expertise as required under Rule 5.05(2)of the GEM Listing Rules.In addition,the majority of

160、the Audit Committee shall be independent non-executive Directors.As at the date of this report,the Audit Committee comprises three members,namely Mr.Li Kar Fai Peter(Chairman),Mr.Chan Chi Pang and Mr.Cao Hongmin.The Company complied with the requirement under Rule 5.28 of the GEM Listing Rules throu

161、ghout the year ended 31 December 2023.25ANNUAL REPORT 2023 年報CORPORATEGOVERNANCE REPORT 企業管治報告 根據職權範圍，審核委員會之主要職責為（其中包括）（有關完整的職權範圍，請參閱本公司的網站www.gf-)：1.就本公司外聘核數師的委任及重新委任向董事會提供建議、批準本公司外聘核數師的薪酬及聘用條款；2.按適用的標準檢討及監察本公司外聘核數師是否獨立客觀及核數程序是否有效；3.就本公司外聘核數師提供非核數服務（如有）制定政策，並予以執行；4.監察本公司的財務報表以及年度報告及賬目及半年度報告的完整性，並審閱

162、報表及報告所載有關財務申報的重大判斷；5.與本公司外聘核數師討論在全年賬目審核中出現的問題及存疑之處；6.審閱本公司外聘核數師致本公司管理層的函件及管理層之回應；7.於提交董事會批準前，審閱本公司年度報告所列有關本公司內部控制系統的報表；8.檢討本公司的財務申報、財務監控、內部監控及風險管理制度；9.與本公司管理層討論內部監控系統，確保管理層已履行職責建立有效的內部監控系統；10.主動或應董事會的委派，就有關內部監控事宜的重要調查結果及管理層對調查結果的回應進行研究；With reference to the terms of reference,the primary responsibil

163、ities of the Audit Committee are,among others(for the complete terms of reference,please refer to the Companys website at www.gf-):1.to make recommendations to the Board on the appointment and re-appointment of the Companys external auditors,and approve the remuneration and terms of engagement of th

164、e Companys external auditors;2.to review and monitor the Companys external auditors independence and objectivity and the effectiveness of the audit process in accordance with applicable standards;3.to develop and implement policy on engaging the Companys external auditors to supply non-audit service

165、s,if any;4.to monitor integrity of the Companys financial statements and annual report and accounts,half-year report and review significant financial reporting judgments contained in them;5.to discuss with the Companys external auditors questions and doubts arising in audit of annual accounts;6.to r

166、eview the letter of the Companys management from the Companys external auditors and the managements response;7.to review the statement about the Companys internal control system as included in the Companys annual report prior to submission for the Boards approval;8.to review the Companys financial r

167、eporting,financial controls,internal control and risk management system;9.to discuss the internal control system with the Companys management to ensure that management has performed its duty to have an effective internal control system;10.to consider major investigation findings on internal control

168、matters as delegated by the Board or on its own initiative and managements response to these findings;26GLORY FLAME HOLDINGS LIMITED 朝威控股有限公司CORPORATEGOVERNANCE REPORT 企業管治報告 11.檢討本集團的財務及會計政策及實務；12.檢討本公司僱員可暗中就財務申報、內部監控或其他方面可能發生的不正當行為提出關注的安排；及 13.根據審核委員會的職權範圍向董事會匯報相關事宜並考慮董事會所界定的其他主題。於報告期內，審核委員會舉行了6次會

169、議。於報告期內，審核委員會成員之出席記錄概述如下：於報告期內，審核委員會已審閱本集團截至二零二二年十二月三十一日止年度的經審核業績、本集團截至二零二三年三月三十一日止三個月的未經審核季度業績、本集團截至二零二三年六月三十日止六個月的未經審核中期業績、本集團截至二零二三年九月三十日止九個月的未經審核季度業績，以及討論內部監控及財務申報事宜。審核委員會亦已審閱本集團於報告期的經審核全年業績及本年報，並確認本年報符合適用準則、GEM上市規則及其他適用法律規定，且已作出足夠披露。董事與審核委員會於挑選及委任外聘核數師方面並無意見分歧。董事會認為，於報告期內及截至本報告日期止，審核委員會已妥善履行其職務

170、及職責。11.to review the financial and accounting policies and practices of the Group;12.to review arrangements employees of the Company can use,in confidence,to raise concerns about possible improprieties in financial reporting,internal control or other matters;and 13.to report to the Board on that mat

171、ters pursuant to the terms of reference of the Audit Committee and consider other topics as defined by the Board.During the Reporting Period,the Audit Committee had held 6 meetings.The attendance records of the members of the Audit Committee during the Reporting Period are summarized below:Attendanc

172、e/Number of meetings出席次數會議次數Member of Audit Committee審核委員會成員 Mr.Li Kar Fai,Peter李嘉輝先生6/6Mr.Chan Chi Pan陳志斌先生5/6Mr.Cao Hongmin曹洪民先生5/6During the Reporting Period,the Audit Committee had reviewed the Groups audited results for the year ended 31 December 2022,the unaudited quarterly results of the Grou

173、p for the three months ended 31 March 2023,the unaudited interim results of the Group for the six months ended 30 June 2023,the unaudited quarterly results of the Group for the nine months ended 30 September 2023 and discussed internal controls and financial reporting matters.The Audit Committee had

174、 also reviewed the Groups audited annual results for the Reporting Period,this annual report,and confirmed that this annual report complies with the applicable standard,the GEM Listing Rules,and other applicable legal requirements and those adequate disclosures have been made.There is no disagreemen

175、t between the Directors and the Audit Committee regarding the selection and appointment of the external auditors.The Board is of the view that the Audit Committee has properly discharged its duties and responsibilities during the Reporting Period and up to the date of this report.27ANNUAL REPORT 202

176、3 年報CORPORATEGOVERNANCE REPORT 企業管治報告 薪酬委員會本公司於二零一四年八月二日設立薪酬委員會，並遵照GEM上市規則第5.34至5.36條及守則條文第E.1.2條訂明其職權範圍。於本報告日期，薪酬委員會由三名成員組成，即曹洪民先生（主席）、陳志斌先生及李嘉輝先生，彼等均為獨立非執行董事。根據薪酬委員會的職權範圍，薪酬委員會的主要職責包括（有關完整職權範圍，請參閱本公司的網站 www.gf-)：1.就其他執行董事的薪酬建議諮詢董事會主席及或行政總裁；2.就本公司全體董事及高級管理人員的薪酬政策及架構，及就設立正規而具透明度的程序制訂薪酬政策，向董事會提出建議；3.

177、因應董事會所訂企業方針及目標而檢討及批準管理層的薪酬建議；4.向董事會建議個別執行董事及高級管理人員的薪酬待遇；5.就非執行董事的薪酬向董事會提出建議；6.考慮同類公司支付的薪酬、須付出的時間及職責，以及本公司及其附屬公司的其他職位的僱用條件；REMUNERATION COMMITTEE The Remuneration Committee was established on 2 August 2014 with terms of reference in compliance with Rules 5.34 to 5.36 at the GEM Listing Rules,and prov

178、ision E.1.2 of the Code.As at the date of this report,the Remuneration Committee comprises three members,namely Mr.Cao Hongmin(Chairman),Mr.Chan Chi Pan and Mr.Li Kar Fai Peter,all of whom are independent non-executive Directors.With reference to the terms of reference of the Remuneration Committee,

179、the primary responsibilities of the Remuneration Committee include(for the complete terms of reference,please refer to the Companys website at www.gf-):1.to consult the chairman of the Board and/or chief executive about their remuneration proposals for other executive Directors;2.to make recommendat

180、ions to the Board on the Companys policy and structure for all Directors and senior managements remuneration and on the establishment of a formal and transparent procedure for developing remuneration policy;3.to review and approve the managements remuneration proposals with reference to the Boards c

181、orporate goals and objectives;4.to make recommendation to the Board on the remuneration packages of individual executive Directors and senior management;5.to make recommendations to the Board on the remuneration of non-executive Directors;6.to consider salaries paid by comparable companies,time comm

182、itment and responsibilities and employment conditions elsewhere in the Company and its subsidiaries;28GLORY FLAME HOLDINGS LIMITED 朝威控股有限公司CORPORATEGOVERNANCE REPORT 企業管治報告 7.檢討及批準向執行董事及高級管理人員就其喪失或終止職務或委任而須支付的賠償，以確保該等賠償與合約條款一致；若未能與合約條款一致，賠償亦須公平，不致過多；及 8.檢討及批準因董事行為失當而解僱或罷免有關董事所涉及的賠償安排，以確保該等安排與合約條款一致；

183、若未能與合約條款一致，有關賠償亦須合理適當。於報告期內，薪酬委員會舉行了2次會議。薪酬委員會成員的出席記錄概述如下：於報告期內，薪酬委員會已審閱截至二零二二年十二月三十一日止年度董事的薪酬方案及表現。董事會認為，於報告期及截至本報告日期止，薪酬委員會已妥善履行其職責及職務。提名委員會本公司於二零一四年八月二日設立提名委員會，並遵照守則條文第 B.3.1及 B.3.2條訂明其職權範圍。於本報告日期，提名委員會由三名成員組成，即陳志斌先生（主席）、曹洪民先生及李嘉輝先生，彼等均為獨立非執行董事。7.to review and approve compensation payable to exec

184、utive Directors and senior management for any loss or termination of office or appointment to ensure that it is consistent with contractual terms and is otherwise fair and not excessive;and 8.to review and approve compensation arrangements relating to dismissal or removal of Directors for misconduct

185、 to ensure that they are consistent with contractual terms and are otherwise reasonable and appropriate.During the Reporting Period,the Remuneration Committee held 2 meetings.The attendance records of the members of the Remuneration Committee are summarized below:Attendance/Number of meetings出席次數會議次

186、數Member of Remuneration Committee薪酬委員會成員Mr.Cao Hongmin曹洪民先生1/2Mr.Chan Chi Pan陳志斌先生2/2Mr.Li Kar Fai,Peter李嘉輝先生2/2During the Reporting Period,the Remuneration Committee had reviewed the remuneration packages and performance of the Directors during the year ended 31 December 2022.The Board is of the vi

187、ew that the Remuneration Committee has properly discharged its duties and responsibilities during the Reporting Period and up to the date of this report.NOMINATION COMMITTEE The Nomination Committee was established on 2 August 2014 with terms of reference in compliance with provisions B.3.1 and B.3.

188、2 of the Code.As at the date of this report,the Nomination Committee comprises three members,namely Mr.Chan Chi Pan(Chairman),Mr.Cao Hongmin and Li Kar Fai,Peter,all of whom are independent non-executive Directors.29ANNUAL REPORT 2023 年報CORPORATEGOVERNANCE REPORT 企業管治報告 根據提名委員會的職權範圍，提名委員會的主要職責包括（有關完

189、整的職權範圍，請參閱本公司的網站 www.gf-)：1.檢討董事會的架構、人數及組成（包括技能、知識及經驗方面），並就為配合本公司的公司策略而擬對董事會作出的變動（如有）提出建議；2.檢討本公司的董事會成員多元化政策及就該政策制定的目標的執行進度；3.物色具備合適資格可擔任董事的人士，並挑選提名有關人士出任董事或就此向董事會提供意見；4.評核獨立非執行董事的獨立性；及 5.就董事委任或重新委任以及董事（尤其是主席及行政總裁）繼任計劃向董事會提出建議。於報告期內，提名委員會舉行了 1次會議。提名委員會成員的出席記錄概述如下：With reference to the terms of refer

190、ence of the Nomination Committee,the primary responsibilities of the Nomination Committee include(for the complete terms of reference,please refer to the Companys website at www.gf-):1.to review the structure,size and composition(including the skills,knowledge and experience)of the Board and make re

191、commendation on proposed changes,if any,to the Board to complement the Companys corporate strategy;2.to review the Companys board diversity policy and the progress on achieving the objectives set for implementing the said policy;3.identifying individuals suitably qualified to become Board members an

192、d select or make recommendations to the Board on the selection of individuals nominated for directorships;4.to assess the independence of independent non-executive Directors;and 5.to make recommendations to the Board on the appointment or re-appointment of Directors and succession planning for Direc

193、tors,in particular the chairman and the chief executive.During the Reporting Period,the Nomination Committee had held 1 meeting.The attendance records of the members of the Nomination Committee are summarized below:Attendance/Number of meetings出席次數會議次數Member of Nomination Committee提名委員會成員 Mr.Chan Ch

194、i Pan陳志斌先生 1/1Mr.Cao Hongmin曹洪民先生 0/1Mr.Li Kar Fai Peter李嘉輝先生1/130GLORY FLAME HOLDINGS LIMITED 朝威控股有限公司CORPORATEGOVERNANCE REPORT 企業管治報告 於報告期間，提名委員會已審閱董事會架構、規模及成員組成，評估獨立非執行董事的獨立性、審閱董事資歷及董事會成員多元化政策的實施進程。董事會認為，於報告期及截至本報告日期止，提名委員會已妥善履行其職務及職責。提名政策本公司已於二零一九年一月一日採納一項提名政策（提名政策），旨在加強董事會及或提名委員會於董事（包括獨立非執行董事）

195、選舉方面的透明度及問責性。董事會將不時檢討提名政策。董事甄選標準提名委員會於評估向董事會提名擬定候選人之合適性以供其考慮及於股東大會上就選舉本公司董事向股東作出推薦建議及委任彼填補空缺時，可參考以下因素：於本公司業務所在或將涉足之相關行業的資格及經驗；可投入時間及相關事務關注的承諾；誠信聲譽；及 董事會各方面的多元化，包括但不限於性別、文化及教育背景、種族、專業經驗、技能、知識及服務年期。During the Reporting Period,the Nomination Committee had reviewed the structure,size and composition of

196、the Board,assessed the independence of the independent non-executive Directors,and reviewed the qualifications of the Directors and the progress on the implementation of the board diversity policy.The Board is of the view that the Nomination Committee has properly discharged its duties and responsib

197、ilities during the Reporting Period and up to the date of this report.NOMINATION POLICY The Company adopted a nomination policy(“Nomination Policy”)on 1 January 2019.It aims at strengthen the transparency and accountability of the Board and/or Nomination Committee on election of directors including

198、independent non-executive directors.The Board will review the Nomination Policy from time to time.Selection Criteria of Directors The factors listed below would be used as reference by the Nomination Committee in assessing the suitability of a proposed candidate to be nominated to the Board for it t

199、o consider and make recommendation to shareholders for election as directors of the Company at the general meetings and appoint him/her to fill casual vacancies.Qualifications and experience in the relevant industries in which the Companys business is involved or is going to be involved;Commitment i

200、n respect of available time and relevant interest Reputation for integrity;and Diversity in all its aspects,including but not limited to gender,cultural and educational background,ethnicity,professional experience,skills,knowledge and length of service.31ANNUAL REPORT 2023 年報CORPORATEGOVERNANCE REPO

201、RT 企業管治報告 該等因素僅供參考，並非盡列所有因素，亦不具決定性作用。提名委員會可酌情決定提名其認為適當之任何人士。提名程序提名委員會將召開會議，並於會前邀請董事會成員提名的候選人（如有）供提名委員會考慮。提名委員會亦可提名非董事會成員提名之候選人；擬定候選人將按要求遞交必要的個人資料，連同彼同意被委任為本公司董事之書面同意書。提名委員會可能於認為必要時要求候選人提供其他資料及文件；提名委員會將參考上述因素評估擬定候選人是否適任並向董事會作出推薦建議供其考慮及批準；倘於股東大會上重選董事，提名委員會須檢討董事對本公司的整體貢獻及彼等於董事會之服務、參與度及表現，以及該董事是否仍符合本公司企

202、業策略之需求。董事會多元化本集團已採納有關董事會成員多元化的政策（董事會多元化政策），該政策概要如下：1.董事會成員選舉將基於一系列多元化標準，包括但不限於性別、年齡、文化及教育背景、專業經驗、技能、知識以及服務年期；及 2.提名委員會將不時監察多元化政策的實施情況，以確保多元化政策發揮效用。These factors are for reference only,and not meant to be exhaustive and decisive.The Nomination Committee has the discretion to nominate any person,as it

203、 considers appropriate.Nomination Procedures The Nomination Committee shall call a meeting,and invite nominations of candidates from Board members(if any)for consideration by the Nomination Committee prior to its meeting.The Nomination Committee may also put forward candidates who are not nominated

204、by Board members;Proposed candidates will be asked to submit the necessary personal information,together with their written consent to be appointed as a director of the Company.The Nomination Committee may request candidates to provide additional information and documents,if considered necessary;The

205、 Nomination Committee shall evaluate the proposed candidates suitability with reference to the factors stated above and make recommendation(s)to the Boards consideration and approval;In the case of the re-election of a director at the general meeting,the Nomination Committee shall review the overall

206、 contribution of the directors to the Company and their services,their participation and performance within the Board,and whether such director still meets the needs to complement the Companys corporate strategy.DIVERSITY OF THE BOARD The Group adopted policy in relation to the diversity of the memb

207、ers of the Board(“Board Diversity Policy”)and summary of the policy is as follows:1.selection of Board members will be based on a range of diversity perspectives,which would include but not limited to gender,age,cultural and educational background,professional experience,skills,knowledge and length

208、of service;and 2.the Nomination Committee will monitor the implementation of the diversity policy from time to time to ensure the effectiveness of the diversity policy.32GLORY FLAME HOLDINGS LIMITED 朝威控股有限公司CORPORATEGOVERNANCE REPORT 企業管治報告 為達致可持續及均衡發展，本公司視董事會層面的多元化為維持競爭優勢的關鍵元素。一個真正多元化的董事會可融入及善用董事的不

209、同知識、地區及行業經驗、背景、性別及其他質素。此等差異將用作考慮董事會的最佳組成。所有董事會的任命均以用人唯才為原則，根據客觀標準予以考慮，並充分顧及董事會多元化的裨益。於本報告日期，董事會包括四名董事，三名為獨立非執行董事，可促進管理程序的批判性檢討與監控。Zhou Jin女士於二零二三年七月十五日辭任後，董事會有四名男性（佔董事的100%）；而我們的高級管理人員為一名男性（佔高級管理層的100%）。為實現董事會的性別多元化，董事會將至遲於二零二四年十二月三十一日委任一名女性董事會成員。建造業因社會及文化傳統一直缺少女性人才。本公司努力維持員工的男女比例約為4：1。董事會於財政年度二零二二年

210、已達致董事會多元化政策項下的性別多元化目標。股息政策本公司已於二零一九年一月一日採納一項股息政策。該政策旨在提升本公司的透明度，以便本公司股東及潛在投資者就本公司作出知情的投資決定。董事會將不時檢討股息政策。With a view to achieving a sustainable and balanced development,the Company sees diversity at the Board level as an essential element in maintaining a competitive advantage.A truly diverse Board w

211、ill include and make good use of differences in the skills,regional and industry experience,background,gender and other qualities of the Directors.These differences will be considered in determining the optimum composition of the Board.All appointment of the Directors are made on meritocracy,and wil

212、l be considered against objective criteria,having due regard for the benefits of diversity oon the Board.As at the date of this report,the Board comprises four Directors,three are INEDs,thereby promoting critical review and control of the management process.Following the resignation of Ms.Zhou Jin o

213、n 15 July 2023,the Board comprised four males,representing 100%of the Board;and our senior management comprised one male,representing 100%of senior management.In order to achieve gender diversity on the Board,the Board will appoint one female Board member no later than 31 December 2024.Construction

214、industry has generally been short of female talents due to social and culture traditions.The Company managed to maintain a gender ratio of male to female in the workforce of approximately 4:1.The Board has met the goals for gender diversity under the Board Diversity Policy for FY2022.DIVIDEND POLICY

215、 The Company adopted a dividend policy on payment of dividends on 1 January 2019.It aims at enhancing transparency of the Company and facilitating its shareholders and the potential investors of the Company to make informed investment decision relating to the Company.The Board will review the divide

216、nd policy from time to time.33ANNUAL REPORT 2023 年報CORPORATEGOVERNANCE REPORT 企業管治報告 倘本公司有意於未來宣派及派付股息，則任何股息之派付及金額將視乎多項因素而定，包括但不限於：1.本集團之實際及預期財務表現；2.本集團之預期營運資金需求、資金開支需求及未來擴展計劃；3.本公司及本集團各成員公司之保留盈利及可分派儲備；4.本集團之流動資金狀況；5.整體經營狀況及可能影響本集團業務或財務表現及狀況之其他內部或外部因素；及 6.本公司董事會視為相關之任何其他因素。股東將有權根據已繳足或入賬列作繳足股份金額按比例收取相

217、關股息、股息之宣派、派付及金額由董事酌情釐定。股息僅可以根據相關法律準許之可分派溢利派付。概不保證本公司將能夠按任何計劃內所載金額宣派或分派任何股息或完全不宣派或派付。本公司過往之股息分派記錄不足以作為釐定本公司日後可能宣派或派付股息水平之參考或基準。While the Company intends to declare and pay dividends in the future,the payment and the amount of any dividends will depend on a number of factors,including but not limited

218、to:1.the Groups actual and expected financial performance;2.the Groups expected working capital requirements,capital expenditure requirements and future expansion plans;3.retained earnings and distributable reserves of the Company and each of the members of the Group;4.the Groups liquidity position;

219、5.the general economic conditions and other internal or external factors that may have an impact on the business or financial performance and position of the Group;and 6.any other factors that the board of directors of the Company deems relevant.Shareholders will be entitled to receive such dividend

220、s pro rata according to the amounts paid up or credited as paid up on the shares.The declaration,payment,and amount of dividends will be subject to the Boards discretion.Dividends may be paid only out of distributable profits as permitted under the relevant laws.There can be no assurance that the Co

221、mpany will be able to declare or distribute any dividend in the amount set out in any of the plans or at all.The Companys dividend distribution record in the past may not be used as a reference or basis to determine the level of dividends that may be declared or paid by the Company in the future.34G

222、LORY FLAME HOLDINGS LIMITED 朝威控股有限公司CORPORATEGOVERNANCE REPORT 企業管治報告 核數師薪酬於報告期間內，本集團聘用滙益國際會計師事務所有限公司（滙益）為本集團外部核數師，以進行本集團截至二零二三年十二月三十一日止年度財務業績的審核。報告期間已付或應付核數師薪酬載列如下：公司秘書張蔚琦先生（張先生）為本公司公司秘書。張先生於本公司擁有足夠知識履行本公司公司秘書職能。張先生確認，於報告期內，彼已接受不少於15小時的相關專業培訓。風險管理及內部控制 董事會負責建立、維護及審查本集團內部控制和風險管理體系。董事會必須確保本公司建立和維護有效的

223、內部控制和風險管理體系，以實現目標，維護本公司股東及資產的利益。AUDITORS REMUNERATION During the Reporting Period,the Group engaged AOGB CPA Limited(“AOGB”)as the Groups external auditors to conduct audit of the financial results of the Group for the year ended 31 December 2023.The auditors remuneration paid or payable for the Rep

224、orting Period is set out below:Services renderedFee paid or payable已付或應付費用HK$提供服務港元Audit of financial statements審核財務報表500,000COMPANY SECRETARY Mr.Cheung Wai Kee(“Mr.Cheung”)is the company secretary of the Company.Mr.Cheung has adequate knowledge on the Company to discharge his duty as the company se

225、cretary of the Company.Mr.Cheung confirmed that he had taken no less than 15 hours of relevant professional training during the Reporting Period.RISK MANAGEMENT AND INTERNAL CONTROL The Board is responsible for the establishment,maintenance and review of the Groups system of internal controls and ri

226、sk management.The Board must ensure that the Company establishes and maintains effective internal control and risk management systems to meet the objectives and safeguard the interests of the Shareholders and the assets of the Company.35ANNUAL REPORT 2023 年報CORPORATEGOVERNANCE REPORT 企業管治報告 董事會按持續基準

227、不斷監察本集團風險管理及內部控制系統，致力識別、控制已確定風險的影響，並促進實施協調減緩措施。與 Treadway 委員會(COSO)二零一三年綜合框架 原則的贊助組織專員兼容的風險管理和內部控制系統旨在管理而不是消除失敗實現業務目標的風險，並提供合理但不絕對的保證反對重大錯報或遺失。本集團制定了風險管理政策，以確定影響業務的主要風險的識別，評估和管理過程。1.每個部門負責確定、評估和管理其各部門的風險，每季度確定和評估主要風險，並採取緩解計劃來管理這些風險；2.管理層負責監督本集團的風險管理和內部控制活動，並與各部門進行季度會議，以確保負責人的風險得到妥善管理且新風險或變化中的風險得到確認和

228、記錄；3.董事會負責審議和批準本集團風險管理和內部控制的有效性和充分性。風險管理框架加上內部控制，確保與不同業務部門相關的風險得到有效控制，符合本集團心意。本公司並無內部審計部門，並已委聘晉悅諮詢服務有限公司為外部內部控制顧問，於報告期內對本集團的內部控制制度進行檢討。審查涉及本集團香港建築業務及實施風險管理政策的一些程序，並提出改進建議和加強內部控制制度。沒有確定可能影響本集團財務、經營、合規、控制及風險管理的重大關切領域。The Board oversees the overall risk management and internal control system of the Gro

229、up on an ongoing basis and endeavors to identify,control impact of the identified risks and facilitate implementation of coordinated mitigating measures.The risk management and internal control systems compatible with the Commissioner of Sponsoring Organization of the Treadway Commission(COSO)Integr

230、ated Framework 2013 principles are designed to manage rather than eliminate the risk of failures to achieve business objectives,and provide only reasonable but not absolute assurance against material misstatement or loss.The Group has established a risk management policy set out the process of ident

231、ification,evaluation and management of the principal risks affecting the business.1.Each division is responsible for identifying,assessing and managing risks within its division.It identifies and assesses the principal risks on a quarterly basis with mitigation plans to manage those risks;2.The mana

232、gement is responsible for overseeing the risk management and internal control activities of the Group,quarterly meetings with each division to ensure principal risks are properly managed,and new or changing risks are identified and documented;3.The Board is responsible for reviewing and approving th

233、e effectiveness and adequacy of the Groups risk management and internal controls.The risk management framework,coupled with our internal controls,ensures that the risk associated with our different business units are effectively controlled in line with the Groups appetite.The Company does not have a

234、n internal audit department and engaged an external internal control consultant,Premier Advisory Services Limited,to conduct review on the internal control system of the Group during the Reporting Period.The review covering certain procedures and implementation of risk management policies of the Gro

235、up and make recommendations for improvement and strengthening of internal control system.No significant areas of concern that may affect the financial,operational,compliance,controls and risk management of the Group have been identified.36GLORY FLAME HOLDINGS LIMITED 朝威控股有限公司CORPORATEGOVERNANCE REPO

236、RT 企業管治報告 本集團的風險管理和內部控制制度旨在管理而不是消除未能實現業務目標的風險，只能提供合理而不絕對的保證，防止重大錯報或損失。董事會全面負責維護資源充足，員工素質和經驗培訓計劃及會計和財務報告功能預算，董事會已經得出結論：本集團的風險管理和內部控制制度已經到位有效。在內幕信息的監控和披露方面，本集團採取了披露內幕信息的政策，目的是確保內部人員遵守保密要求，履行內幕信息的披露義務。主要風險及不明朗因素本集團之運營、財務狀況、業務方向及展望可能受多種風險及不確定因素影響。下文為本集團所識別的主要風險和不確定因素。除下文所述外，或會存在集團尚未知或現時並不重大但可能會在未來變得重大之其

237、他風險和不明朗因素。策略風險本集團的業務與所處的經濟環境、市場競爭、政治及法律發展的變動密切相關，該等變動可能對本集團當前或未來的業務、經營業績或財務狀況產生重大影響。財務風險本集團的財務風險主要包括外匯風險、信貸風險、流動風險、利率風險及市場風險。有關該等風險的詳情及相關管理政策，請參閱綜合財務報表附註6。The Groups risk management and internal control system are designed to manage rather than eliminate the risk of failure to achieve business objec

238、tives,and can only provide reasonable and not absolute assurance against material misstatement or loss.The Board has the overall responsibility to maintain the adequacy of resources,staff qualifications and experience training programs and budget of accounting and financial reporting function and th

239、e Board has reached the conclusion that the Groups risk management and internal control system was in place and effective.With respect to the monitoring and disclosure of inside information,the Group has adopted a policy on disclosure of inside information with an aim to ensure that the insiders abi

240、de by the confidentiality requirement and fulfill the disclosure obligation of the inside information.MAJOR RISKS AND UNCERTAINTIESThe Groups operations,financial condition,business directions and prospects may be affected by various risk factors and uncertainties.The major risks and uncertainties f

241、or the Group are identified below.Except as stated below,there may be other risks and uncertainties unknown to the Group or not material at present but could become material in the future.Strategy RiskThe Groups businesses are closely related to the changes in economic environment,market competition

242、,political and legal development in which the Group operates,which may have significant impact to the Groups current or future business,results of operation or financial condition.Financial RiskThe Groups financial risks mainly include foreign exchange risk,credit risk,liquidity risk,interest rate r

243、isk and market risk.For further details of such risk and relevant management policies,please refer to note 6 to the consolidated financial statements.37ANNUAL REPORT 2023 年報CORPORATEGOVERNANCE REPORT 企業管治報告 Operation RiskOperation risk refers to the risk that losses will be incurred because of the s

244、hortage or failure of an internal business process,staffing or system,or attributable to an external event.Managing the operating risk is,in general,the duty of each functional department.The Group is of the opinion that operating risk cannot be eliminated entirely and will have an impact on our ope

245、rating results and earnings.The Group has issued guidance about internal standard operating procedures,authorities and reporting hierarchy.The Company has engaged independent internal control consultant to assess and review the major operations and report any risks to the Board every year.Talent Poo

246、l RiskRecruiting the right people is an essential factor for the development of an enterprise.Competition is intense in the industry and regions in which the Group operates its business.The shortage or loss of personnel with appropriate skills or experience could pose a potential risk impacting the

247、Groups ability to achieve its goals.The Group provides competitive salaries and benefits as well as various incentives to attract the right talent,however,there is no assurance that the Group would be able to retain capable staffs.Risk of entering new marketThe Group is contemplating to expand the p

248、refabricated construction business into new geographic market.The expansion plan may be hindered by various risks and uncertainties,such as legal and regulatory barriers,cultural and language differences,political and economic instability,customer loyalty and trust,and competitive pressure.There is

249、no assurance that the Group would be able to successfully maintain or increase the Groups market share or grow the business successfully after deploying the management and financial resources.Any failure in implementing the plan could materially and adversely affect the Groups business.Any initial p

250、ayment or investment for the new business may not be recovered when the counterparty may not fulfill its part of the deal and may default on the contractual obligations.The Company has adopted a policy with regard to prepayment not relating to the ordinary course of existing businesses in order to a

251、ssess,mitigate and monitor the counterparty risk associated with entering into new business.營運風險營運風險指因內部業務程序、人員配備或制度不足及缺失，及或因外部事件導致損失的風險。管理運營風險之責任基本上由各個功能的部門負責。本集團認為運營風險不能完全消除，並會影響業績和盈利。本集團對內部標準運營程序、權限及匯報框架做出指引。本公司已委聘獨立內部控制顧問每年評估及檢討主要營運，並向董事會報告任何風險。人才儲備風險合適的人才是企業發展的根本之一。本集團所處的行業和地區競爭較為激烈，具備適當技能、經驗的人

252、才的不足或流失，也將成為影響集團達成目標的潛在風險。本集團提供具有競爭力的薪酬福利及各種激勵機制吸引合適人才，然而，無法保證本集團能夠挽留有能力的員工。進入新市場的風險本集團正在考慮將裝配式建築業務拓展至新的地區市場。擴張計劃可能會受到各種風險及不確定因素的阻礙，如法律及監管障礙、文化及語言差異、政治及經濟不穩定、客戶忠誠度及信任度以及競爭壓力。無法保證本集團能夠在調配管理及財務資源後成功維持或增加本集團的市場份額，或成功發展業務。任何實施計劃失敗均可能對本集團的業務造成重大不利影響。當交易對手可能不履行其交易部分並可能不履行合約義務時，新業務的任何初始付款或投資均可能無法收回。本公司已就與現

253、有業務正常過程無關的預付款項採納政策，以評估、減輕及監控與開展新業務相關的交易對手風險。38GLORY FLAME HOLDINGS LIMITED 朝威控股有限公司CORPORATEGOVERNANCE REPORT 企業管治報告 董事及核數師就財務報表須承擔的責任 董事確認及了解彼等須負責編製財務報表，確保本集團編製的財務報表真實而公平地反映本集團的狀況、業績及現金流量，且符合相關會計準則及原則、適用法例以及 GEM上市規則規定的披露條文。董事認為，本集團各財政年度的財務報表均已按有關基準編製。據董事所知，並無不明朗因素涉及可能對本公司持續經營能力構成重大疑問的事件或情況。有關本公司外聘核

254、數師就綜合財務報表須承擔的責任的聲明載於本年報中的獨立核數師報告。章程文件之重大更改 於二零二三年六月八日，本公司於股東週年大會上以特別決議案採納本公司之第二份經修訂及重訂之組織章程大綱及細則（第二份經修訂大綱及細則）。第二份經修訂大綱及細則可於本公司網站上查閱。股東大會股東週年大會（股東週年大會）為董事會與股東可就本集團事務、整體表現及未來發展等直接溝通及交換意見的平臺。董事（包括獨立非執行董事）會出席股東週年大會回答股東提問。本公司外聘核數師亦獲邀出席股東週年大會，以回答股東有關審核程序及核數師報告的提問。將通過特別決議案的本公司應屆股東週年大會將於二零二四年六月七日舉行，大會通告將於大會

255、前最少21日內寄發予股東。.DIRECTORS AND AUDITORS RESPONSIBILITY FOR FINANCIAL STATEMENTS The Directors acknowledge and understand their responsibility for preparing the financial statements and to ensure that the financial statements of the Group are prepared in a manner which reflects the true and fair view of

256、 the state of affairs,results and cash flows of the Group and are in compliance with the relevant accounting standards and principles,applicable laws and disclosure provisions required under the GEM Listing Rules.The Directors are of the view that the financial statements of the Group for each finan

257、cial year have been prepared on this basis.To the best knowledge of the Directors,there are no uncertainties relating to events or conditions that may cast significant doubt upon the Companys ability to continue as a going concern.Statement of the Companys external auditors responsibilities in respe

258、ct of the consolidated financial statements is set out in the Independent Auditors Report of this annual report.SIGNIFICANT CHANGES IN CONSTITUTIONAL DOCUMENTS On 8 June 2023,the Company resolved by special resolution to adopt the second amended and restated memorandum and articles of association of

259、 the Company(the“2nd Amended M&A”)in the annual general meeting.The 2nd Amended M&A is available on the Companys website.GENERAL MEETINGS WITH SHAREHOLDERS The annual general meeting(the“AGM”)is a forum in which the Board and the Shareholders communicate directly and exchange views concerning the af

260、fairs and overall performance of the Group,and its future developments,etc.At the AGM,the Directors(including independent non-executive Directors)will answer questions raised by the Shareholders.The external auditor of the Company is also invited to be present at the AGM to address to queries of the

261、 Shareholders concerning the audit procedures and the auditors report.The forthcoming AGM of the Company at which a special resolution is to be passed is scheduled to be held on 7 June 2024,the notice of which shall be sent to the Shareholders at least 21 days prior to this meeting.39ANNUAL REPORT 2

262、023 年報CORPORATEGOVERNANCE REPORT 企業管治報告 SHAREHOLDERS RIGHTS Convening Extraordinary General Meeting on Requisition by Shareholders Pursuant to article 64 of the Articles,the Board may,whenever it thinks fit,convene an extraordinary general meeting(“EGM”).EGMs shall also be convened on the requisitio

263、n of one or more Shareholders holding,at the date of deposit of the requisition,not less than one tenth of the paid up capital of the Company having the right of voting at general meetings.Such requisition shall be made in writing to the Board or the company secretary of the Company for the purpose

264、of requiring an EGM to be called by the Board for the transaction of any business specified in such requisition.Such meeting shall be held within 2 months after the deposit of such requisition.If,within 21 days of such deposit,the Board fails to proceed to convene such meeting,all reasonable expense

265、s incurred by the acquisition(s)as a result of the failure of the Board shall be reimbursed to the requisitionist(s)by the Company.Procedures for Shareholders Nomination of Directors Pursuant to article 113 of the Articles,no person,other than a retiring Director,shall,unless recommended by the Boar

266、d for election,be eligible for election to the office of Director at any general meeting,unless notice in writing of the intention to propose that person for election as a Director and notice in writing by that person of his willingness to be elected shall have been lodged at the head office or at t

267、he registration office of the Company.The period for lodgement of the notices required under the Articles will commence no earlier than the day after the dispatch of the notice of the general meeting appointed for such election and end no later than 7 days prior to the date of such general meeting a

268、nd the minimum length of the period during which such notices to the Company may be given will be at least 7 days.股東權利在股東要求下召開股東特別大會 根據細則第64條，董事會可酌情召開股東特別大會（股東特別大會）。股東特別大會亦須應一名或多名於要求日期持有不少於本公司有權於股東大會上投票的實繳股本十分之一的股東要求而予以召開。該項要求須以書面向董事會或本公司公司秘書提呈，以要求董事會召開股東特別大會以處理任何該書面要求中所列明的任何事項。有關會議應於提出有關要求後兩個月內舉行。倘

269、董事會於提出該項要求後21日內未能召開該大會，本公司須向提出要求人士償付由提出要求人士因董事會未能召開大會而產生的所有合理開支。股東提名候選董事的程序 根據細則第113條，除退任董事外，任何未經董事會推薦的人士均不具資格於任何股東大會獲選為董事，除非有關提名該人士參選為董事的書面通知及獲被提名人士表明有意參選的書面通知送達本公司總辦事處或註冊辦事處。細則規定提交該等通知書的期限，由不早於寄發為有關選舉所召開股東大會通告翌日起至不遲於舉行有關股東大會日期前七日為止，而向本公司提交該通知的最短時限為最少七日。40GLORY FLAME HOLDINGS LIMITED 朝威控股有限公司CORPOR

270、ATEGOVERNANCE REPORT 企業管治報告 股東向董事會提出查詢的程序 股東如對名下持股有任何問題，可向本公司的股份過戶登記處提出。股東亦可隨時要求索取本公司的公開資料。所有書面查詢或要求可送交本公司的總辦事處或傳真至(852)3571 9460或電郵至infogf-。本公司的總辦事處及其股份過戶登記處地址請參閱本年報 公司資料 一節。投資者關係為確保透明及全面向投資者披露資訊，本集團循多個渠道向公眾人士傳達資料，包括股東大會、公告及財務報告。投資者亦可於本公司網站(www.gf-)查閱本集團最新消息及資料。本公司已設立股東溝通政策，旨在推動本公司股東及投資者的有效溝通，令彼等能在

271、知情的情況下行使權利。本公司的一般政策乃與股東及投資者維持持續溝通。本公司歡迎股東及或投資者的查詢、建議或意見，股東可透過以下途徑向本公司以書面形式向董事會提出查詢：地址：香港九龍尖沙咀廣東道5號海港城海洋中心8樓821室電郵：infogf-於報告期間，本公司已審閱其溝通政策的實施情況及有效性，並得出結論為有效。Procedures for directing Shareholders enquiries to the Board Shareholders may direct their enquiries concerning their shareholdings to the Comp

272、anys share registrars.Shareholders may also make a request for the Companys information to the extent that such information has been made publicly available by the Company.All written enquiries or requests may be forwarded to the Companys head office or by fax to(852)3571 9460,or by email to infogf-

273、.The addresses of the Company head office and the Companys share registrars can be found in the section headed“Corporate Information”of this annual report.INVESTOR RELATIONS To ensure transparent and comprehensive disclosures to investors,the Group delivers information of the Group to the public thr

274、ough various channels,including general meeting,public announcement and financial reports.The investors are also able to access the latest news and information of the Group via our website(www.gf-).The Company has established a shareholders communication policy which aims at promoting effective comm

275、unication with the Companys shareholders and the investors,enabling them to exercise their rights in an informed manner.It is the Companys general policy to maintain an on-going dialogue with shareholders and the investors.Enquiries,suggestions or views from the shareholders and/or investors are wel

276、comed,and enquiries from the shareholders may be put in writing to the Board through the following channels to the Company:Address:Suite 821,8th Floor Ocean Centre,Harbour City 5 Canton Road Tsim Sha Tsui,Kowloon Hong Kong Email:infogf-The Company has reviewed the implementation and effectiveness of

277、 its communication policy during the Reporting Period and conclude that it is effective.41ANNUAL REPORT 2023 年報關於朝威控股有限公司朝威控股有限公司（本公司，連同其附屬公司統稱 本集團）視可持續的優質增長為取得成功的關鍵和履行社會責任的經濟基礎。本集團努力將環保做法貫徹融入日常營運的所有方面，藉此促進業務增長和為市場帶來正面影響。於報告期間，本集團及其附屬公司主要從事提供混凝土拆卸服務以及製造及買賣裝配式建築組件。報告範圍及準則本環境、社會及管治報告乃根據香港聯合交易所有限公司（聯交所

278、）證券上市規則附C2 環境、社會及管治報告指引（環境、社會及管治報告指引）編製。本環境、社會及管治報告的資料來自本集團官方文件及統計數據以及本集團附屬公司所提供的監察、管理及營運資料的匯總概括。有關本報告環境及社會層面的資料載於下文。本環境、社會及管治報告的報告期間為二零二三年一月一日至二零二三年十二月三十一日（報告期間）。本報告著重說明我們於提供混凝土拆卸及建築工程服務以及製造及買賣裝配式建築組件時進行的業務活動所造成的重大環境及社會影響。本報告所載資料來源於本集團內部文件及統計數據，以及附屬公司根據本集團內部管理系統提供的綜合控制、管理及營運資料。報告最後一節附有完整的內容索引，供方便查閱

279、。ENVIRONMENTAL,SOCIAL環境、社會及管治報告AND GOVERNANCE REPORT ABOUT GLORY FLAME HOLDINGS LIMITEDGlory Flame Holdings Limited(the“Company”),together with its subsidiaries(collectively referred to as the“Group”),believe operating sustainably and quality growth is the key to our success and the economic basis f

280、or us to practice social responsibility.The Group strives to integrate environmentally friendly practices into all aspects of our daily operations to grow its business and create a positive impact on the market.For the Reporting Period,the Group and its subsidiaries are mainly engaged in provision o

281、f concrete demolition services and manufacturing and trading of prefabricated construction components.REPORTING SCOPE AND STANDARDSThis report is prepared in accordance with the“Environmental,Social and Governance Reporting Guide”(“ESG Guide”)as set out in Appendix C2 of the Rules Governing the List

282、ing of Securities on The Stock Exchange of Hong Kong Limited(“SEHK”).The information in this ESG Report is derived from the Groups official documents and statistical data,as well as the integration and summary of monitoring,management and operational information provided by subsidiaries of the Group

283、.Information on the environmental and social aspects of the report is set out below.The reporting period of this ESG report is from 1 January 2023 to 31 December 2023(“Reporting Period”).This report highlights significant environmental and social impacts of our business activities in the provision o

284、f concrete demolition and construction engineering services,and the manufacturing and trading of prefabricated precast construction components.The information contained herein is sourced from internal documents and statistics of the Group,as well as the combined control,management and operations inf

285、ormation provided by the subsidiaries in accordance with the Groups internal management systems.A complete content index is appended to the last section of the report for easy reference.42GLORY FLAME HOLDINGS LIMITED 朝威控股有限公司ENVIRONMENTAL,SOCIALAND GOVERNANCE REPORT環境、社會及管治報告持份者參與持份者的意見是本集團業績及可持續增長的

286、堅實基礎。持份者參與乃朝威社會責任管理的重要組成部分，因為其有助於我們釐定持份者最關注的社會及環境問題。我們頻繁與客戶及分包商會議探討環境、職業健康、安全及質量管理的觀點。我們在制定日常營運決策時考慮彼等有關觀點，努力有效溝通，平衡各方利益。下表列示本集團持份者。ENGAGEMENT WITH STAKEHOLDERSThe views of stakeholders serve as a strong basis for the Groups performance and sustainable growth.Stakeholder engagement is a crucial comp

287、onent of Glory Flames social responsibility management because it helps us identify the social and environmental concerns that matter most to our stakeholders.We discuss ideas on environmental,occupational health and safety,and quality management in our frequent meetings with clients and subcontract

288、ors.We consider their viewpoints while making daily operational decisions and work to effectively communicate in order to balance the interests of all parties.The stakeholders in the Group are shown in the table below.Stakeholder GroupsSpecific StakeholderCommunication Channel持份者組別特定持份者溝通渠道Investors

289、 投資者 Shareholders股東 Potential investors潛在投資者 Corporate website企業網站 Annual and interim financial report年度及中期財務報告 Quarterly reports,announcements and other public information年度及中期財務報告 Annual general meetings股東週年大會Employees僱員 Senior management高級管理層 Staff員工 Direct workers直接工人 Potential recruits潛在僱員 Dire

290、ct communication直接溝通 Independent focus groups and interviews獨立專項小組及面試 Training and seminars培訓及研討會 Regular performance assessment定期表現評估 CSR and volunteering activities企業社會責任及志願活動43ANNUAL REPORT 2023 年報ENVIRONMENTAL,SOCIALAND GOVERNANCE REPORT環境、社會及管治報告Stakeholder GroupsSpecific StakeholderCommunicati

291、on Channel持份者組別特定持份者溝通渠道Customers客戶 Main-contractors總承建商 Buyers買家 Ultimate users最終用戶 Periodical meetings with contractors and customers與承包商及客戶定期開會 Customers assessment客戶評估 Designated customer hotline客戶專線Suppliers/Contractors供應商承包商 Material suppliers材料供應商 Sub-contractors分包商 Service providers服務供應商 Sup

292、pliers assessment供應商評估 Daily work review每日工作檢討 Site inspection/meeting with sub-contractors實地視察與分包商開會Community社區 National and local community organisations全國及當地社區組織 Charitable donations慈善捐贈 Community programme社區計劃Government政府 National and local governments全國及當地政府 Regulators監管機構 Written correspondenc

293、e書面信函 Statutory reports and general disclosures法定報告及一般披露44GLORY FLAME HOLDINGS LIMITED 朝威控股有限公司ENVIRONMENTAL,SOCIALAND GOVERNANCE REPORT環境、社會及管治報告重要性評估爲協助編寫本報告，本集團審閱其營運，識別相關的ESG問題，及評估相關事項對業務和持持份者的重要性。根據已識別的重大ESG問題，編制一份數據收集問卷，以收集本集團持份者的信息。透過綜合內部評估及調查結果，我們已編制如下所示的重要性矩陣。我們致力於確保在業務營運中就重要問題採取適當的行動。MATERI

294、ALITY ASSESSMENTTo aid in the compilation of this Report,the Group reviews its operations,identifies relevant ESG issues,and evaluates the significance and assesses the importance of related matters to its business and stakeholders.Based on the identified significant ESG issues,a data collection que

295、stionnaire was prepared to collect information from relevant stakeholders of the Group.By consolidating the results of internal assessment and survey,we have compiled the materiality matrix as shown below.We strive to make sure appropriate actions on important issues are taken across our business op

296、erations.Materiality Matrix重要性矩陣4,5,13,19,202,12,15,18113,8,16,17,211465432100123456101,6,7,9,22Importance to the Sustainable Development ot the Group對本集團可持續發展的重要程度Importance to Stakeholders對股東的重要程度45ANNUAL REPORT 2023 年報ENVIRONMENTAL,SOCIALAND GOVERNANCE REPORT環境、社會及管治報告Protecting our planetRespons

297、ible value chain保護地球負責任的價值鏈1 Air and noise emissions control廢氣及噪音排放控制12 Corporate governance and compliance企業管治及慣例2 Resource management(energy,water and waste)資源管理（能源、水及廢棄物）13 Anti-corruption反貪污3 Project management and material usage項目管理及材料使用14 Confidentiality and data privacy機密及數據私隱4 Site environme

298、nt impact施工環境影響15 Product and service quality management產品及服務品質管理5 Green office綠色辦公室16 Customer safety,engagement and satisfaction客戶安全、投入程度及滿意度6 Climate change氣候變化17 Customers and users health and safety客戶及用戶的健康及安全18 Supplier and subcontractor engagement供應商及分包商委聘19 Supplier and subcontractors enviro

299、nmental and social responsibility供應商及分包商的環境及社會責任20 Transparent and fair procurement practices透明公平的採購慣例Dedicated workforceCorporate citizen敬業的員工企業公民7 Occupational health and safety職業健康及安全21 Community investment and engagement社區投資及參與8 Employment practices 招聘慣例22 Site impact on local communities施工對當地社區

300、的影響9 Employee training and development僱員培訓及發展10 Diversity and equal opportunity多元化及平等機會11 Protecting human rights(child and forced labour)保障人權（童工及強制勞工）46GLORY FLAME HOLDINGS LIMITED 朝威控股有限公司ENVIRONMENTAL,SOCIALAND GOVERNANCE REPORT環境、社會及管治報告保護環境全球變暖加劇已成不爭事實。本集團意識到其責任和堅持其持續營運的環境可持續性的必要性。作為建造業的重要參與者，我

301、們支持綠色環保理念，遵守香港和中華人民共和國的規則及法規及任何行業的特定指引。排放由於我們意識到減排正成為全球經濟日漸重要的組成部分，因此環境管理納入本集團的業務決策及各個流程。我們日常運作的主要排放來源是從事建築工作時的廢物、噪音、溫室氣體（溫室氣體）及污水。環保拆卸方法室外存放的砂石及水泥等建築材料以及暴露的建築區域產生的灰塵容易造成塵土飛揚。為了減少工程過程產生的粉塵，我們採用環保的建築技術，例如噴砂和拋丸。這些方法大幅減少建築工地周圍的粉塵。該技術亦提供突出的粘合品質，可限制塗層破裂的可能性，從而改善道路安全性，並最大限度地延長地面壽命。對於涉及室內拆卸項目，使用的技術不會產生廢氣，在

302、工作過程只引起很小的振動。為維護工人的安全，我們的機器可以遠程操作，令工人避免在拆卸區域附近工作。我們亦採用逼裂鉗碎的拆卸方法。該方法包括在混凝土構築物的預鑽孔中插入一部劈裂機，從內部將其劈裂，從而將噪音及振動降至最低。PROTECTING THE ENVIRONMENTGlobal warming is undeniably escalating.The Group is aware of its responsibilities and the need to adhere to the environmental sustainability of its ongoing operati

303、ons.As a prominent actor in the construction sector,we support the green environment concept and adhere to the rules and regulations of Hong Kong and the PRC,as well as any industry-specific guidelines.EMISSIONSSince we are aware that reducing emissions is becoming a more and more significant compon

304、ent of the global economy,environmental management has been incorporated into the Groups operational decisions and numerous processes.When building,the primary sources of emissions from our daily operations are waste,noise,greenhouse gas(“GHG”)emissions,and effluents.Environmentally Friendly Demolit

305、ion MethodsConstruction materials such as sands and cement stored outdoor as well as the dust of the exposed construction area are easily scattered.To reduce dust generation during our operation,we use environmentally friendly construction technologies such as scarifying and shot blasting.These meth

306、ods significantly reduce the amount of dust emitted to the surrounding areas of construction sites.It also offers outstanding bonding qualities that limit the possibility of coating breakdown,improving road safety and maximizing floor life.For projects involving indoor demolition,technologies that d

307、id not generate exhaust fumes and caused only minor vibration during work were used.To maintain worker safety,our machines may be remotely operated,allowing our workers to avoid working near the demolition regions.We also adopt splitting/bursting as a demolition method.This approach involves inserti

308、ng a splitter into a pre-drilled hole in the concrete structure to burst it from within,resulting in minimal noise and vibration.47ANNUAL REPORT 2023 年報ENVIRONMENTAL,SOCIALAND GOVERNANCE REPORT環境、社會及管治報告裝配式建築部件與傳統建築方法不同，裝配式建築部件是在工廠環境中建造，允許資源回收或再利用。由於壓縮的項目時間框架及生產廠房的監管環境，粉塵及噪音排放可大幅減少。在我們的生產廠房，我們引進了噴水裝

309、置，用於次組裝的日常維護及防止揚塵。於本報告期內，本集團產生的廢氣排放如下：Prefabricated construction componentsUnlike traditional construction methods,prefabricated construction components are built in a factory environment,allowing resources to be recycled or reused.Dust and noise emissions can be decreased significantly more as a re

310、sult of compressed project timeframes and the production factorys regulated environment.In our production factory,we have introduced a water spraying device for daily maintenance of sub-assemblies and for the prevention of dust scattering.For the Reporting Period,air emissions generated by the Group

311、 were as follows:Unit20232022單位二零二三年二零二二年Emissions data from usage of vehicles and gaseous fuel consumption用車及氣體 燃料消耗的 排放數據Nitrogen Oxide(NOx)氮氧化物(NOx)kg 千克506.82556.46Sulphur Oxide(SOx)硫氧化物(SOx)kg 千克0.690.71Particulate Matter(PM)顆粒物(PM)kg 千克45.1750.1048GLORY FLAME HOLDINGS LIMITED 朝威控股有限公司ENVIRONME

312、NTAL,SOCIALAND GOVERNANCE REPORT環境、社會及管治報告於本報告期內，本集團產生的溫室氣體排放如下：For the Reporting Period,GHG emissions generated by the Group were as follows:Unit(CO2 equivalent)20232022單位（二氧化碳當量）二零二三年二零二二年Direct emission or removals from sources(Scope 1)直接排放及從源頭減除（範圍1）GHG emissions from mobile and stationary combu

313、stion sourcesCarbon Dioxide(CO2)tonne128.60114.60流動及固定燃燒源的溫室氣體排放 二氧化碳(CO2)噸Methane(CH4)kg121.05107.23甲烷(CH4)千克Nitrous oxide(N2O)tonne5.185.00氧化亞氮(N2O)噸Energy indirect emissions(Scope 2)能源間接排放（範圍2）Electricity purchased from power companiesCarbon Dioxide(CO2)tonne134.50136.40從電力公司購買的電力二氧化碳(CO2)噸Other

314、indirect emissions(Scope 3)其他間接排放（範圍3）Paper waste disposed at landfillsCarbon Dioxide(CO2)tonne4.351.41棄置到堆填區的廢紙二氧化碳(CO2)噸Electricity used for processing fresh water and sewage by the government department1Carbon Dioxide(CO2)kg1,941.841,872.61政府部門使用電力處理食水及 污水1二氧化碳(CO2)千克Business air travel2Carbon Di

315、oxide(CO2)kg549.00商務航空旅行2二氧化碳(CO2)千克1 The total amount of Scope 3 emissions in 2022 has been updated from 39.73 kg to 1,872.61 kg due to data misalignment.2 Due to COVID-19 pandemic,there has been no business air travel by our employees during 2022.1 由於資料不一致，二零二二年的範圍3排放總量從39.73千克更新至1,872.61千克。2 由於新冠

316、病毒疫情，於二零二二年，我們並無僱員乘坐飛機出外公幹。49ANNUAL REPORT 2023 年報ENVIRONMENTAL,SOCIALAND GOVERNANCE REPORT環境、社會及管治報告廢物管理處理及處置固體廢物是香港緊迫的環境問題。本集團意識到建築工地產生的建築廢物會對廢棄物處理設施造成沉重負擔。廢物的主要來源為建築工地移走非危險物品，而這些廢物均按照 廢物處置條例 的規例，妥為運送至認可的接收設施。在將廢物從工地移走之前，本集團一般會對建築項目的廢物分類。至於工程產生的一般惰性垃圾如巖石，會將其棄至公眾填埋處作未來填海之用，或在工地再次用作填埋材料。為節省堆填區空間，任何不

317、能循環或再用的額外垃圾則棄至公眾填埋區。就辦公室廢物而言，我們應繼續鼓勵僱員完全使用所有材料以避免產生不必要的浪費，和盡量使用電子方式以減少紙張使用。於本報告期內，本集團產生的無害廢物如下：WASTE MANAGEMENTHandling and disposing of solid waste are an urgent environmental issue in Hong Kong.The Group realises that the construction wastes generated on construction sites will place a heavy burde

318、n on waste disposal facilities.The primary source of waste is the removal of non-hazardous items from our construction sites,which have all been appropriately transported to approved receiving facilities in compliance with the Waste Disposal Ordinances regulations.Before the debris is removed from t

319、he site,the Group generally classifies the waste from construction projects.When it comes to general inert trash from work,like rocks,they should either be disposed of in public fill for future reclamation or used again at the site as fill material.To save landfill space,any additional garbage that

320、cannot be recycled or reused should be dumped in public filling areas.In terms of office waste,we will continue to encourage our employees to completely utilize all materials in order to prevent creating unnecessary waste and to reduce paper usage through electronic means.For the Reporting Period,th

321、e amount of non-hazardous waste produced by the Group was as follows:Unit20232022單位二零二三年二零二二年Construction waste建築廢物tonne2,170.321,656.41噸Construction waste intensity建築廢物密度tonne/work order1.611.71噸工作訂單Paper waste廢紙tonne0.910.29噸Paper waste intensity廢紙密度tonne/employee0.00950.0030噸僱員50GLORY FLAME HOLDI

322、NGS LIMITED 朝威控股有限公司ENVIRONMENTAL,SOCIALAND GOVERNANCE REPORT環境、社會及管治報告為了生產，本集團在處置廢物前會先將廢物分類，並將廢物帶到指定分類區。我們已採用運載紀錄制度，以避免在客戶未提供垃圾處理區域的情況下，隨意傾倒垃圾並確保垃圾得到妥善處理。本集團亦採取以下措施以減廢：最大限度利用材料，避免不必要的使用及切割；將建築廢物重新用於其他建築項目；在適當時候訂購適當數量的原材料；將材料存放在指定區域並採取適當的保護措施；定期審查操作程序以盡量減少廢物的產生；及 收集確切數量的材料並根據需要將剩餘部分退回庫存。由於我們的業務性質（提供

323、建築服務及建築材料供應）使然，我們於報告期間的營運並無產生任何有害廢物。To reduce waste production,the Group separates waste before disposal and take waste to the allocated sorting area.We have adopted a trip-ticket system to avoid fly-tipping and to ensure waste is disposed of properly when our client did not provide the disposal are

324、a.The Group also implement the following measures to reduce:Maximise the utilisation of materials and avoid unnecessary use and cutting;Reuse construction waste materials for other construction projects;Order the appropriate amount of raw material at the appropriate time;Store materials in an alloca

325、ted area with suitable protective measures;Periodically review operating procedures to minimise waste generation;and Collect the exact number of materials and return the surplus to stock as needed.Due to our business nature(provision of construction services and building materials supply),no hazardo

326、us waste was generated from our operations for the Reporting Period.51ANNUAL REPORT 2023 年報ENVIRONMENTAL,SOCIALAND GOVERNANCE REPORT環境、社會及管治報告資源使用本集團在日常營運中積極承擔環保責任，制訂工作守則及發展必要的技術技能，以達致本集團實現生態可持續發展的目標。紙、電及水乃本集團的三大主要資源消耗類別。辦公及建築須消耗汽油和電力。電力用於辦公室運營，而大部分燃料則用於設備操作及付運期間地面運輸。本組織以節約資源為重點，努力透過加強建築設備維護、優化營運操作及

327、實施節能措施提高能源效率。辦公室及建築地盤為控制能源消耗而實施的幾項舉措如下：USE OF RESOURCESThe Group has proactively taken on our environmental responsibilities in our day-to-day operations,developed the code of practice,and developed the necessary technical skills to deliver on the Groups goal to achieve ecologically sustainable deve

328、lopment.Paper,electricity,and water use are the Groups three main resource consumption categories.Both running an office and doing construction require energy consumption in the form of gasoline and electricity.Electricity was used for office operations,while most of the fuel was used for equipment

329、operation and ground transportation during delivery.Our organization prioritizes the conservation of resources and endeavors to augment energy efficiency through the reinforcement of construction equipment maintenance,optimization of operational operations,and implementation of energy-saving measure

330、s.Several initiatives have been implemented in offices and construction sites to control energy consumption as follows:Office Set and maintain average room temperatures between 24 and 26；辦公室設置及維持平均室溫為攝氏24至26度之間；Switch off office equipment(e.g.printers,computers and monitors)before leaving the workpl

331、ace;離開工作場所前關閉辦公室設備（如打印機、電腦及屏幕）；Energy-friendly electrical appliances and devices,including LED lighting,and computers and projectors,have been installed;and安裝節能電器及設備，包括LED照明及電腦及投影機；及 Priority was given to energy-efficient and low-emissions models to save electricity and reduce indirect greenhouse ga

332、ses generated優先考慮節能及低排放模式，以節省電力並減少間接產生溫室氣體。Site Switch off non-essential lightings as well as idle machinery and equipment;and工地關掉不必要的照明以及閒置的機械及設備；及 Various communications(posters,signs and memos)for promoting energy conservation have been launched to raise construction workers awareness.推出各種提倡節能的通訊

333、方式（如海報、標語及備忘），以提高建築工人的節能意識。52GLORY FLAME HOLDINGS LIMITED 朝威控股有限公司ENVIRONMENTAL,SOCIALAND GOVERNANCE REPORT環境、社會及管治報告除辦公室營運外，我們的建築部門消耗本集團的大部分用水。為緩解水資源短缺及減少對周邊環境的負面影響，本集團合理利用水資源及嚴格控制污水排放。為提倡節水，本集團在辦公室及項目位置推行多項節水技術。在日常營運中，我們採取控制措施，例如保護排水系統及排放點以避免堵塞，經常進行自主監察檢查，以核實所排放的污水的質素是否符合規定標準。為了減少食水及污水的消耗，我們收集建築工地的地面廢水，進行適當清洗，之後將其用於抑制揚塵和清洗汽車輪胎淤泥。此外，我們促進分包商與僱員緊密合作，以採取必要的保障措施避免工地食水浪費。為實現我們的能源有效使用，本集團根據國家倡議採取減少、替換及