安保工程控股：2020年報.pdf

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1、1ABLE ENGINEERING HOLDINGS LIMITED 安保工程控股有限公司CONTENTS 目錄2公司資料Corporate Information4五年財務概要Five-year Financial Summary6主席報告Chairmans Statement11重大手頭合約概要Summary of Significant Contracts on Hand12牌照Licenses13管理層討論及分析Management Discussion and Analysis25董事及高級管理層履歷Biographical Details of Directors and Seni

2、or Management33企業管治報告Corporate Governance Report62董事會報告Report of the Directors80獨立核數師報告Independent Auditors Report 89綜合損益及其他全面收入表Consolidated Statement of Profit or Loss and Other Comprehensive Income91綜合財務狀況表Consolidated Statement of Financial Position93綜合權益變動表Consolidated Statement of Changes in E

3、quity94綜合現金流量表Consolidated Statement of Cash Flows96財務報表附註Notes to Financial StatementsThe English text of this annual report shall prevail over the Chinese text in case of inconsistencies or discrepancies.本年度報告之中英文版本如有任何歧義或差異，概以英文版本為準。2Annual Report 2019-2020 年報Corporate InformatIon公司資料BOARD OF DIR

4、ECTORSExecutive DirectorsMr.NGAI Chun Hung(Chairman)Mr.CHEUNG Ho Yuen(appointed as the Chief Executive Officer on 20 February 2020)Mr.IP Yik Nam(ceased to be the Chief Executive Officer on 20 February 2020)Mr.LAU Chi Fai,DanielMr.YAU Kwok FaiMr.YAM Kui Hung(retired on 20 February 2020)Independent No

5、n-executive DirectorsDr.LI Yok SheungMs.MAK Suk HingMs.LEUNG Yuen Shan,MaisyBOARD COMMITTEESAudit CommitteeMs.LEUNG Yuen Shan,Maisy(Chairman)Dr.LI Yok SheungMs.MAK Suk HingRemuneration CommitteeDr.LI Yok Sheung(Chairman)Ms.MAK Suk HingMs.LEUNG Yuen Shan,MaisyMr.YAU Kwok FaiNomination CommitteeMr.NGA

6、I Chun Hung(Chairman)Dr.LI Yok SheungMs.MAK Suk HingMs.LEUNG Yuen Shan,MaisyCOMPANY SECRETARYMr.WONG Fu Cheong Desmond,CPAINDEPENDENT AUDITORErnst&YoungCertified Public Accountants董事會執行董事魏振雄先生（主席）張浩源先生（自二零二零年二月二十日起 獲委任行政總裁）葉亦楠先生（自二零二零年二月二十日起 不再擔任行政總裁）劉志輝先生游國輝先生任鉅鴻先生（於二零二零年二月二十日退任）獨立非執行董事李毓湘博士麥淑卿女士梁婉

7、珊女士董事會委員會審核委員會梁婉珊女士（主席）李毓湘博士麥淑卿女士薪酬委員會李毓湘博士（主席）麥淑卿女士梁婉珊女士游國輝先生提名委員會魏振雄先生（主席）李毓湘博士麥淑卿女士梁婉珊女士公司秘書黃富昌先生（會計師）獨立核數師安永會計師事務所執業會計師3ABLE ENGINEERING HOLDINGS LIMITED 安保工程控股有限公司Corporate InformatIon公司資料REGISTERED OFFICEPO Box 1350,Clifton House75 Fort StreetGrand Cayman KY1-1108Cayman IslandsHEAD OFFICE AND

8、PRINCIPAL PLACE OF BUSINESSNo.155 Waterloo Road,Kowloon TongKowloon,Hong KongSHARE REGISTRAR AND TRANSFER OFFICEPrincipal Share Registrar and Transfer Office in the Cayman IslandsOcorian Trust(Cayman)LimitedPO Box 1350,Clifton House75 Fort StreetGrand Cayman KY1-1108Cayman IslandsHong Kong Branch Sh

9、are Registrar and Transfer OfficeTricor Investor Services LimitedLevel 54,Hopewell Centre183 Queens Road EastHong KongSHARE INFORMATIONOrdinary share listingPlace of listingMain Board of The Stock Exchange of Hong Kong LimitedStock code01627Board lot size4,000 SharesWEBSITEShttp:/.hkhttp:/ Box 1350,

10、Clifton House75 Fort StreetGrand Cayman KY1-1108Cayman Islands總辦事處兼主要營業地點香港九龍九龍塘窩打老道155號股份過戶登記處開曼群島股份過戶登記總處Ocorian Trust(Cayman)LimitedPO Box 1350,Clifton House75 Fort StreetGrand Cayman KY1-1108Cayman Islands香港股份過戶登記分處卓佳證券登記有限公司香港皇后大道東183號合和中心54樓股份資料普通股上市上市地點香港聯合交易所 有限公司主板股票代號01627每手買賣單位4,000股網址htt

11、p:/.hkhttp:/ Report 2019-2020 年報Five-Year Financial SummarY五年財務概要RESULTSYear ended 31 March20202019201820172016二零二零年二零一九年二零一八年二零一七年二零一六年HK$000HK$000HK$000HK$000HK$000千港元千港元千港元千港元千港元REVENUE收入1,547,8412,385,4153,112,2642,318,3172,502,920Contract costs合約成本(1,391,313)(2,149,888)(2,862,972)(2,065,285)(2,

12、204,176)Gross profit毛利156,528235,527249,292253,032298,744Other income and gains其他收入及收益13,94014,0494,7931,5243,291Administrative expenses行政開支(90,292)(80,787)(44,987)(108,232)(58,078)Other expenses其他開支(40,588)Finance costs財務費用(1,320)(528)(221)(235)(2,535)Share of profits and losses of joint ventures應佔

13、合營企業損益1,3282,173(18,333)(102)Income tax expense所得稅開支(15,621)(29,002)(33,906)(26,269)(39,430)PROFIT FOR THE YEAR年內溢利23,975141,432174,971101,487201,890Other comprehensive income/(loss)for the year年內其他全面 收入(損失)(1,766)1,766 PROFIT AND TOTAL COMPREHENSIVE INCOME FOR THE YEAR年內溢利及 全面收入總額22,209143,198174,9

14、71101,487201,890 Profit for the year attributable to owners of the parent母公司持有者應佔 年內溢利23,975141,432174,971101,487201,890 Profit and total comprehensive income for the year attributable to owners of the parent母公司持有者應佔 年內溢利及全面收入 總額22,209143,198174,971101,487201,890 業績截至三月三十一日止年度5ABLE ENGINEERING HOLDI

15、NGS LIMITED 安保工程控股有限公司Five-Year Financial SummarY五年財務概要FINANCIAL POSITIONSAs at 31 March20202019201820172016二零二零年二零一九年二零一八年二零一七年二零一六年HK$000HK$000HK$000HK$000HK$000千港元千港元千港元千港元千港元Non-current assets非流動資產707,850794,862125,80114,24833,872Current assets流動資產1,213,3151,250,5981,761,6651,560,0501,560,779Non

16、-current liabilities非流動負債6,71643271858Current liabilities流動負債659,606732,826710,280571,855631,642 NET ASSETS資產淨值1,254,8431,312,6341,177,1431,002,172962,151 TOTAL EQUITY總權益1,254,8431,312,6341,177,1431,002,172962,151 財務狀況於三月三十一日6Annual Report 2019-2020 年報Chairmans statement主席報告0501001502002502015/16 20

17、16/17 2017/182019/202018/19FINANCIAL HIGHLIGHTSRevenuefortheyearended31March2020decreasedby 35%to approximately HK$1,548 million from approximately HK$2,385 million for the year ended 31 March 2019.Netprofitfortheyearended31March2020amountedto approximately HK$24 million(2019:approximately HK$141 mi

18、llion).Basicearningspersharefortheyearended31March2020amounted to HK1.20 cents(2019:HK7.07 cents).財務摘要收入由截至二零一九年三月三十一日止年度的約23.85億港元，減少35%至截至二零二零年三月三十一日止年度的約15.48億港元。截至二零二零年三月三十一日止年度的溢利淨額為約0.24億港元（二零一九年：約1.41億港元）。截至二零二零年三月三十一日止年度的每股基本溢利為1.20港仙（二零一九年：7.07港仙）。Capital and Liabilities股本及負債As at 31 March

19、2020於二零二零年三月三十一日Revenue(HK$million):收入（百萬港元）：Profit for the Year(HK$million):年內溢利（百萬港元）：Other liabilities其他負債Capital and reserves股本及儲備35%65%05001000150020002500300035002015/16 2016/17 2017/18 2018/19 2019/207ABLE ENGINEERING HOLDINGS LIMITED 安保工程控股有限公司Chairmans statement主席報告Dear Shareholders,On beha

20、lf of the board(the“Board”)of directors(the“Director(s)”)of Able Engineering Holdings Limited(the“Company”,which,together with its subsidiaries,is referred to as the“Group”),I report the annual results of the Group for the year ended 31 March 2020.RESULTSDuring the year under review,the Group was en

21、gaged in the contract works business,which mainly comprised building construction and repair,maintenance,alteration and addition(“RMAA”)works in Hong Kong.For the year ended 31 March 2020,the Groups consolidated revenue amounted to approximately HK$1,548 million,representing a decrease of 35%from HK

22、$2,385 million for the year ended 31 March 2019.Profit attributable to owners of the parent of the Company for the year ended 31 March 2020 and 31 March 2019 amounted to approximately HK$24 million and HK$141 million,respectively,a decrease of 83%.The basic and diluted earnings per share for the yea

23、r were HK1.20 cents(2019:HK7.07 cents).The decline in net profit was mainly attributable to (i)the decrease in revenue as certain projects were still in the preliminary stage of development during the year ended 31 March 2020 and the suspension of certain site works in February 2020 to prevent the s

24、pread of novel coronavirus(“COVID-19”);and(ii)the onetime loss on derecognition(“Loss on Derecognition”)of the full remaining net book value of the building portion of Man Shung Industrial Building(“Man Shung”)of approximately HK$41 million following the decision of the Board to demolish it for the

25、redevelopment of the site of No.7 Lai Yip Street,Kwun Tong,Kowloon,Hong Kong(the“Site”)where it is located at.The profit attributable to owners of the parent of the Company for the year ended 31 March 2020 would be HK$65 million if excluding the Loss on Derecognition,a decrease of 54%comparing with

26、last year.The net asset value attributable to owners of the parent as at 31 March 2020 amounted to approximately HK$1,255 million(approximately HK$0.63 per share),representing an decrease of 4%from approximately HK$1,313 million(approximately HK$0.66 per share)as at 31 March 2019.致各位股東：本人謹代表安保工程控股有限

27、公司（本公司，連同其附屬公司，統稱本集團）之董事（董事）會（董事會），宣佈本集團截至二零二零年三月三十一日止年度的全年業績。業績於回顧年度，本集團從事合約工程業務，主要包括於香港之樓宇建築及修復、保養、改建及加建（RMAA）工程。於截至二零二零年三月三十一日止年度，本集團之綜合收入約為15.48億港元，較截至二零一九年三月三十一日止年度之約23.85億港元減少35%。截至二零二零年三月三十一日及二零一九年三月三十一日止年度，本公司母公司持有者應佔溢利分別約為0.24億港元及1.41億港元，減少83%。本年度之每股基本及攤薄盈利為1.20港仙（二零一九年：7.07港仙）。溢利下跌主要由於(i)若

28、干項目於二零二零年三月三十一日止年度仍處於初步發展階段及為防止新型冠狀病毒（COVID-19）擴散而於二零二零年二月暫停部份地盤工作，因而導致收入有所下降；及(ii)萬順工業大廈（萬順）因董事會決定將其拆卸以重新發展其所處的香港九龍觀塘勵業街7號地皮（有關地皮），因而對其樓宇部分的全數餘下賬面淨值約0.41億港元作出一次性終止確認而產生的損失（終止確認的損失）。如撇除終止確認的損失，截至二零二零年三月三十一日止年度的本公司母公司持有者應佔溢利約為0.65億港元，較去年減少54%。於二零二零年三月三十一日，母公司持有者應佔資產淨值約為12.55億港元（每股約0.63港元），較二零一九年三月三十一

29、日之約13.13億港元（每股約0.66港元）減少4%。8Annual Report 2019-2020 年報Chairmans statement主席報告DIVIDENDThe Board did not recommend the payment of any final dividend for the year ended 31 March 2020(2019:HK4 cents per ordinary share).REDEVELOPMENT OF NO.7 LAI YIP STREETThe whole block of Man Shung located at No.7 Lai

30、Yip Street,Kwun Tong,Kowloon,Hong Kong(i.e.the Site)was acquired by the Group through several acquisition transactions in the year of 2018/19.The Group received the formal written approval and permission on 7 January 2020,with conditions,given by the Town Planning Board(the“TPB”)in respect of an app

31、lication made by the Group to the TPB for the minor relaxation of plot ratio and building height restrictions of the Site.Considered the current conditions and facilities of Man Shung,the Board considered redevelopment of the Site into a new non-residential building would be more effective to unlock

32、 the potential value and/or gross floor area of the Site than conducting material renovation of Man Shung.The demolition work of Man Shung is in progress.OUTLOOKThe social unrest since second half of 2019 and the COVID-19 pandemic in early 2020 affected the economy and the property market of Hong Ko

33、ng.Accordingly,we foresee that there may be a contraction in the private construction sector in the next few years.Despite such uncertain social and economic environment,the community need for the housing and provision of hospital facilities in Hong Kong is still unchanged.股息董事會不建議就截至二零二零年三月三十一日止年度派

34、發任何末期股息（二零一九年：每股普通股4港仙）。重新發展勵業街7號本集團通過於二零一八至一九年度進行的一連串收購交易購入整棟位於香港九龍觀塘勵業街7號（即有關地皮）的萬順。於二零二零年一月七日，本集團接獲城市規劃委員會（城規會）就本集團向城規會要求略為放寬有關地皮的地積比率和建築物高度限制的申請而發出之正式書面批準及有條件的許可?？紤]到萬順的當前條件和設施，董事會認為，將有關地皮重新發展為一棟新的非住宅大廈將比為萬順進行大型翻新更有效地釋放有關地皮的潛在價值及或建築面積。拆卸萬順之工作正在進行中。前景二零一九年下半年以來的社會動盪以及二零二零年初COVID-19爆發對香港經濟及物業市場產生不利

35、影響。因此，我們預計未來數年私人建築工程項目將出現收縮。儘管社會及經濟環境不明朗，但社會對香港房屋及醫院設施的需求仍沒有改變。9ABLE ENGINEERING HOLDINGS LIMITED 安保工程控股有限公司Chairmans statement主席報告The Government of Hong Kong Special Administrative Region(the“HKSAR”)demonstrated its dedication to increase the supply of public housing by increasing the proportion of

36、 public housing in overall housing supply to 70%as announced in 2018 Policy Address.In addition,as mentioned in 2019 Policy Address,the HKSAR Government set aside HK$5 billion to increase the number of transitional housing projects substantially to provide a total of 10,000 units within the next thr

37、ee years,which was further increased to 15,000 units as announced by the HKSAR Government in January 2020.The HKSAR Government also expedited land supply planning work and resumed three types of private land wholly for public housing,Starter Homes and related infrastructure development by invoking t

38、he“Lands Resumption Ordinance”(Cap.124 of the Law of Hong Kong)and other applicable ordinances.Further,the Land Sharing Pilot Scheme announced in 2018 Policy Address will tap market force in housing planning and construction which can release private land lots with consolidated ownership but not yet

39、 covered by government planning and study,so as to speed up short-and medium-term housing supply.To meet the increasing demand for healthcare services arising from an ageing population,the HKSAR Government had planned ahead the necessary healthcare infrastructure and set aside HK$300 billion as anno

40、unced in the 2018-19 Budget for such purposes.Moreover,the Group also strives for developing innovative technology aiming at enhancing safety,environmental protection,health,quality and efficiency in managing projects.香港特別行政區（香港特區）政府決心增加公共房屋供應。誠如二零一八年施政報告所提及，香港特區政府目標將公共房屋在整體房屋供應中所佔的比例提高至70%。此外，於二零一九

41、年施政報告中，香港特區政府亦提及預留50億港元以於未來三年合共提供10,000個（於二零二零年一月香港特區政府公佈進一步增加至15,000個）的過渡性房屋單位。香港特區政府亦加快土地供應規劃及運用 收回土地條例（香港法例第124章）和其他適用條例，收回三類私人土地作百分百公營房屋及 港人首置上車盤 和相關設施發展。此外，於二零一八年施政報告公佈的土地共享先導計劃 將善用市場的規劃和建造力量，可望盡早釋放部分政府尚未規劃和研究但已整合業權的私人土地，加快短中期房屋供應。為應付人口老化導致的健康護理服務需求增長，香港特區政府已及早籌劃醫療硬件設施並於二零一八至一九年財政預算案宣佈已預留3,000億

42、港元用作有關用途。另外，本集團還致力於發展創新科技，以提升安全、環保、健康、品質及項目管理效率。10Annual Report 2019-2020 年報Chairmans statement主席報告The Directors believe that the construction contracts from the public sector in view of the various development plans of HKSAR Government and our investment in innovation technology will support the lo

43、ng-term growth of the Groups construction business.Looking forward,we will keep looking for different investment opportunities to broaden our source of income and integrate with our business partners in order to reduce construction costs,enhance project efficiency and create synergy,which will creat

44、e reasonable return for the Group and the shareholders of the Company(the“Shareholder(s)”)in the long run.CHANGE IN BOARD MEMBERSOn 20 February 2020,Mr.YAM Kui Hung(“Mr.YAM”)retired from Executive Director after serving the Board for over 3 years.The Chairman and the Board would like to express thei

45、r gratitude to Mr.YAM for his invaluable contributions during his tenure of service.APPRECIATIONFinally,on behalf of the Board,I would like to extend our gratitude and sincere appreciation to all management and employees of the Group for their hard work and dedication,as well as to all Shareholders

46、for their continuous support.Sincerely,NGAI Chun HungChairmanABLE ENGINEERING HOLDINGS LIMITEDHong Kong,24 June 2020鑒於香港特區政府的各項發展計劃，董事相信來自公共部門的建築工程合約及我們於創新科技的投資足以支持本集團建築業務的長遠增長。展望未來，我們將繼續尋求不同的投資機會以擴大收入來源及與我們的商業夥伴整合以減低建築成本、提升項目效率及產生協同效應，為本集團和本公司股東（股東）創造長期合理的回報。董事會之變動於二零二零年二月二十日，於董事會服務超逾3年的任鉅鴻先生（任先生）退

47、任執行董事。主席及董事會謹此衷心感謝任先生於在任期間的寶貴貢獻。鳴謝最後，本人謹代表董事會對本集團全體管理層及僱員之努力不懈與貢獻，以及所有股東的支持，致以衷心感謝！此致魏振雄主席安保工程控股有限公司香港，二零二零年六月二十四日11ABLE ENGINEERING HOLDINGS LIMITED 安保工程控股有限公司Summary of Significant contractS on Hand重大手頭合約概要At 31 March 2020,the management estimates the gross and outstanding values of the Groups sub

48、stantial contracts on hand amounted to approximately HK$7,584 million and HK$6,113 million,respectively.Details of these substantial contracts on hand are set out below:ProjectsContract value項目合約價值HK$million百萬港元Building Construction樓宇建築Extension and Conversion to St.Pauls Primary Catholic School at

49、Wong Nai Chung Road,Happy Valley322擴建及改建跑馬地黃泥涌道聖保祿天主教小學Main Contract for the Proposed Residential Development at NKIL No.6567 Kai Tak Area 1K Site 1,Kai Tak,Kowloon1,898九龍啟德第1K區1號地盤的新九龍內地段第6567號之住宅發展計劃主要建築工程Design and Construction of Redevelopment of Queen Mary Hospital,Phase 1 Main Works at Pok Fu

50、Lam Road2,835(Note)設計及建造薄扶林道瑪麗醫院重建工程第一期主要工程（附註）Construction of Public Housing Development at Tuen Mun Area 54 Site 1&1A2,269屯門第54區第1及1A號公共房屋發展計劃建築工程Repair,Maintenance,Alteration and Addition Works維修、保養、改建及加建工程Hospital Authority Term Contract for Gascoigne Road Site of Minor Capital Project 15/16260醫

51、院管理局加士居道地盤之小型工程定期合約15/16Note:Project with a contract sum of HK$9,450 million was awarded to Paul Y.-Able Joint Venture,an unincorporated body which 30%interest of this joint operation is attributable to the Group.於二零二零年三月三十一日，管理層估計本集團之重大手頭合約總值及未完成合約價值分別約為75.84億港元及61.13億港元。此等重大手頭合約之詳細資料載列如下：附註：由保華安保合

52、營（並非屬法團的團體）投得之項目，合約總值94.50億港元，本集團佔該共同經營之30%權益。12Annual Report 2019-2020 年報Licenses牌照The following table summarises the details of the major qualifications and licences obtained by members of the Group as at 31 March 2020.Government AgenciesCategoryGroup政府機構類別組別Able Engineering Company Limited 安保工程有限

53、公司Works Branch,Development Bureau發展局工務科Buildings建築C(confirmed)丙（確認）Plumbing Installation水管裝置II(probation)II（試用期）Repair and Restoration of Historic Buildings For works related to Western Style Buildings only維修及修復有歷史性樓宇只限與 西式樓宇 有關的工程Turn-key Interior Design and Fitting-out Works全包室內設計及裝修工程IHousing Aut

54、hority房屋委員會Building(New Works)建築（新工程）NW2(confirmed)NW2（確認）Building(Maintenance)建築（保養）M2(probation)M2（試用期）Decoration Contractors裝修承辦商Buildings Department屋宇署General Building Contractors一般建築承建商Site Formation Works地盤平整工程Foundation Works地基工程Housing Society房屋協會Building Works屋宇建造工程List 2名冊二Urban Renewal Au

55、thority市區重建局Repair/Maintenance Works維修保養工程Upper Tier上層Electrical and Mechanical Services Department機電工程署Registered Electrical Contractors(Electricity Ordinance)註冊電業承辦商（電力條例）Able Building Construction Limited 安保營造有限公司Buildings Department屋宇署General Building Contractors一般建築承建商Able Contractors Limited 安

56、保建築有限公司Housing Authority房屋委員會Decoration Contractors裝修承辦商下表概述於二零二零年三月三十一日，本集團成員公司取得的主要資格及牌照詳情：13ABLE ENGINEERING HOLDINGS LIMITED 安保工程控股有限公司ManageMent Discussion anD analysis管理層討論及分析The following discussions should be read in conjunction with the audited consolidated financial statements of the Compa

57、ny for the year ended 31 March 2020.PERFORMANCEDuring the year under review,the Group was mainly engaged as a main contractor in building construction and RMAA works in Hong Kong.As of 31 March 2020,the Groups substantial contracts on hand were mainly related to building construction works from the

58、public sector.For the year ended 31 March 2020,the Groups consolidated revenue amounted to approximately HK$1,548 million,representing a decrease of 35%from HK$2,385 million for the year ended 31 March 2019.Profit attributable to owners of the parent of the Company for the year ended 31 March 2020 a

59、nd 31 March 2019 amounted to approximately HK$24 million and HK$141 million,respectively,a decrease of 83%.The basic and diluted earnings per share for the year were HK1.20 cents(2019:HK7.07 cents).The decline in net profit was mainly attributable to(i)the decrease in revenue as certain projects wer

60、e still in the preliminary stage of development during the year ended 31 March 2020 and the suspension of certain site works in February 2020 to prevent the spread of COVID-19;and(ii)the onetime Loss on Derecognition of approximately HK$41 million,following the decision of the Board to demolish Man

61、Shung for the redevelopment of the Site.The profit attributable to owners of the parent of the Company for the year ended 31 March 2020 would be approximately HK$65 million if excluding the Loss on Derecognition,a decrease of 54%comparing with last year.The net assets value attributable to owners of

62、 the parent as at 31 March 2020 amounted to approximately HK$1,255 million(approximately HK$0.63 per share),representing an decrease of 4%from approximately HK$1,313 million(approximately HK$0.66 per share)as at 31 March 2019.以下討論應與本公司截至二零二零年三月三十一日止年度之經審核綜合財務報表一併參閱。表現於回顧年度內，本集團作為總承建商，主要於香港從事樓宇建築及RMA

63、A工程。於二零二零年三月三十一日，本集團手頭上大部分合約主要為與公營機構有關的工程。於截至二零二零年三月三十一日止年度，本集團之綜合收入約為15.48億港元，較截至二零一九年三月三十一日止年度之約23.85億港元減少35%。截至二零二零年三月三十一日及二零一九年三月三十一日止年度，本公司母公司持有者應佔溢利分別約為0.24億港元及1.41億港元，減少83%。本年度之每股基本及攤薄盈利為1.20港仙（二零一九年：7.07港仙）。溢利下跌主要由於(i)若干項目於二零二零年三月三十一日止年度仍處於初步發展階段及為防止COVID-19擴散而於二零二零年二月暫停部份地盤工作，因而導致收入有所下降；及(i

64、i)萬順因董事會決定將其拆卸以重新發展有關地皮，因而產生一次性的終止確認的損失約0.41億港元。如撇除終止確認的損失，截至二零二零年三月三十一日止年度的本公司母公司持有者應佔溢利約為0.65億港元，較去年減少54%。於二零二零年三月三十一日，母公司持有者應佔資產淨值約為12.55億港元（每股約0.63港元），較二零一九年三月三十一日之約13.13億港元（每股約0.66港元）減少4%。14Annual Report 2019-2020 年報ManageMent Discussion anD analysis管理層討論及分析DIVIDENDThe Board did not recommend t

65、he payment of any final dividend for the year ended 31 March 2020(2019:HK4 cents per ordinary share).BUSINESS REVIEWMarket reviewWith both short-term and long-term measures in housing strategies and healthcare infrastructure implemented by the HKSAR Government,the supply of the construction contract

66、s from public sector will be still stable in the coming years.On the other hand,during the year of 2019/20,the social unrest in second half of 2019 and the political wrangling over funding at Legislative Council of the HKSAR affected the progress of the tendering and award of projects from public se

67、ctor.The workload peaks and troughs for government projects became unpredictable.The Groups performanceFor the year ended 31 March 2020,the Groups revenue amounted to approximately HK$1,548 million(2019:approximately HK$2,385 million),representing a decrease of 35%from that of last year.The decrease

68、 in revenue was mainly resulted from certain projects were still in the preliminary stage of development during the current year while the projects in last year were in their mature stage of development.In addition,certain site works were suspended in February 2020 to prevent the spread of COVID-19

69、which affected the progress of the projects and revenue certified.The gross profit margin increased from 9.9%for the year ended 31 March 2019 to 10.1%for the year ended 31 March 2020.Under the adoption of HKFRS 15,the gross profit margins of the Groups individual contract works will not remain const

70、ant but will fluctuate over different reporting periods,depending on the actual revenue certified and costs incurred for the construction work performed.股息董事會不建議就截至二零二零年三月三十一日止年度派發任何末期股息（二零一九年：每股普通股4港仙）。業務回顧市場狀況鑒於香港特區政府對房屋及醫療硬件設施的短期及長期措施，公營項目的建築合約供應於往後年度將仍然穩定。另一方面，於二零一九至二零年度期間，二零一九年下半年的社會動盪及政治爭執令香港特

71、區立法會在撥款問題出現阻攔，導致公共部門的項目招標和批出工程放緩，而令政府項目的工程量難以預測。本集團表現截至二零二零年三月三十一日止年度，本集團的收入約為15.48億港元（二零一九年：約23.85億港元），較上年度減少35%。收入下跌主要由於若干項目於本年度仍處於初步發展階段，而去年的項目皆為已達發展成熟階段的工程。此外，部份地盤工作為防止COVID-19擴散而於二零二零年二月暫停，因而影響工程進度而減少收入確認。毛利率由截至二零一九年三月三十一日止年度的9.9%上升至截至二零二零年三月三十一日止年度的10.1%。在採納香港財務報告準則第15號下，本集團個別合約工程的毛利率將不會保持穩定而是

72、視乎已進行建築工程所產生之經核定實際收益及成本而於不同報告期間有所波動。15ABLE ENGINEERING HOLDINGS LIMITED 安保工程控股有限公司ManageMent Discussion anD analysis管理層討論及分析Building Construction WorksDuring the year ended 31 March 2020,the following substantial contract was awarded to the Group with contract value of approximately HK$2,269 million

73、:ConstructionofPublicHousingDevelopmentatTuenMun Area 54 Sites 1&1ASubsequent to the year ended 31 March 2020 and up to the date of this annual report,the Group was also secured the following substantial contract with estimated contract value of approximately HK$2,762 million:MainWorksforDevelopment

74、ofCingleotPremiumLogistics Centre at Kwo Lo Wan of Hong Kong International Airport(Note)Note:Project with a contract sum of HK$5,638 million was awarded to Build King-Able Joint Venture,an unincorporated body which 49%interest of this joint operation is attributable to the Group.We expect the above

75、mentioned contracts will be substantially completed in two to four years from the project commencement.On the other hand,the Group completed the following significant contracts regarding building construction works during the year ended 31 March 2020:ConstructionofPublicRentalHousingDevelopmentatLai

76、 Chi Kok Road Tonkin Street Phase 1&2;ConstructionofSubsidisedSaleFlatsDevelopmentatTexaco Road;andConstructionofSubsidisedSaleFlatsDevelopmentatShatin Area 16,Wo Sheung Tun Street,Fo Tan and Footbridge Improvement Works at Siu Hong Road,Tuen Mun.樓宇建築工程於截至二零二零年三月三十一日止年度，本集團取得以下重大合約，其合約價值約為22.69億港元：屯

77、門第54區第1及1A號公共房屋發展計劃建築工程於截至二零二零年三月三十一日止年度後至本年度報告之日期，本集團亦取得以下重大合約，其預計合約價值約為27.62億港元：香港國際機場過路灣高端物流中心發展工程主要工程（附註）附註：由利基安保聯合體（並非屬法團的團體）投得之項目，合約總值56.38億港元，本集團佔該共同經營之49%權益。我們預期，上述合約將於項目開始後兩至四年內大致完成。另一方面，本集團於截至二零二零年三月三十一日止年度完成以下重大樓宇建築工程合約：荔枝角道東京街第1及2期公共租住房屋發展計劃建築工程；德士古道資助出售房屋發展計劃建築工程；及沙田第16區火炭禾上墩街資助出售房屋發展計劃

78、建築工程和屯門兆康路行人天橋改善工程。16Annual Report 2019-2020 年報ManageMent Discussion anD analysis管理層討論及分析其他收入及收益其他收入及收益於截至二零一九年三月三十一日及二零二零年三月三十一日止年度皆約為0.14億港元。截至二零二零年三月三十一日止年度，利息收入因定期存款和利率上升而較去年增加了0.05億港元至約0.11億港元；另一方面，因有關地皮的重新發展，有關萬順的所有租賃於年內終止或完結，導致租金收入較去年減少了0.05億港元至截至二零二零年三月三十一日止年度的約0.02億港元。行政開支行政開支由截至二零一九年三月三十一日

79、止年度約0.81億港元增加至截至二零二零年三月三十一日止年度約0.90億港元。行政開支上升主要由於活化萬順以盡量提高其用途而產生的顧問費用。其他開支截至二零二零年三月三十一日止年度，其他開支約為0.41億港元（二零一九年：無）。董事會決定將萬順拆卸以重新發展有關地皮，其他開支乃萬順的樓宇部分的全數餘下賬面淨值約0.41億港元的一次性終止確認而產生的損失。財務費用截至二零二零年三月三十一日止年度，本集團的財務費用約為130萬港元（二零一九年：約50萬港元）。銀行貸款利息於本年度增加約40萬港元，原因是本年度提取的信託收據貸款較去年有所增加。此外，本年度因採納香港財務報告準則第16號而產生的租賃負

80、債利息約為40萬港元（二零一九年：無）。Other Income and GainsOther income and gains was approximately HK$14 million for both of the year ended 31 March 2019 and 31 March 2020.For the year ended 31 March 2020,the interest income increased by HK$5 million comparing with last year to approximately HK$11 million as a resu

81、lt of the increase in fixed deposit and interest rate during the year.On the other hand,the rental income decreased by HK$5 million comparing with last year to approximately HK$2 million for the year ended 31 March 2020 as all the leases under Man Shung were terminated or expired during the year for

82、 the redevelopment plan of the Site.Administrative ExpensesAdministrative expenses increased from approximately HK$81 million for the year ended 31 March 2019 to approximately HK$90 million for the year ended 31 March 2020.The increase was mainly due to the increase in the consultancy fee incurred f

83、or the revitalisation of Man Shung in order to maximise its use.Other ExpensesFor the year ended 31 March 2020,the other expenses amounted to approximately HK$41 million(2019:Nil),which representing the onetime loss on derecognition of the full remaining net book value of the building portion of Man

84、 Shung of approximately HK$41 million following the decision of the Board to demolish it for the redevelopment of the Site.Finance CostsFor the year ended 31 March 2020,the Groups finance costs amounted to approximately HK$1.3 million(2019:approximately HK$0.5 million).The interest for bank loans in

85、creased by HK$0.4 million in this year due to the increase in trust receipt loans raised during the year comparing with last year.In addition,the interest on lease liabilities of approximately HK$0.4 million(2019:Nil)was incurred during the year upon the adoption of HKFRS 16 in this year.17ABLE ENGI

86、NEERING HOLDINGS LIMITED 安保工程控股有限公司ManageMent Discussion anD analysis管理層討論及分析Share of Profits and Losses of Joint VenturesFor the year ended 31 March 2020,share of profits of joint ventures of approximately HK$1 million(period from 1 December 2018 to 31 March 2019:profits of approximately HK$2 milli

87、on)was solely arisen from the share of net profits(including accounting adjustments in relation to acquisition)of Gold Victory Resources Inc.(“Gold Victory”)and its subsidiaries(collectively,the“JV Group”).To expand the contract works business in the manufacturing,installation and trading of doors,d

88、oor frames,furniture and other related products,Grand Superb Limited(“Grand Superb”,an indirect wholly-owned subsidiary of the Company)as the purchaser,acquired 50%interest in the Gold Victory from Golden Stone Asia Inc.(“Golden Stone”,a company controlled by Mr.WONG Kin Wah(“Mr.WONG”,an independent

89、 third party)on 30 November 2018.To streamline the operation and manage the operational risk,the JV Group disposed its manufacturing arm in The Peoples Republic of China(the“PRC”)at a gain in December 2019.Pursuant to an equity transfer agreement(the“Equity Transfer Agreement”)entered into between G

90、rand Superb,Golden Stone and Mr.WONG on 30 November 2018,Mr.WONG irrevocably warrants and guarantees to Grand Superb that the actual profits of the JV Group for the period commencing from 1 December 2018 and ending on 31 March 2022(the“Profit Warranty Period”)shall not be less than the guaranteed pr

91、ofits(the“Guaranteed Profits”)of HK$50 million(the“Profit Warranty”).In the event the total Guaranteed Profits are not achieved or reached for the entire Profit Warranty Period based on auditors certification,Golden Stone shall pay Grand Superb 50%of the shortfall between the actual profits and the

92、Guaranteed Profits,unless the shortfall is caused by the event of force majeure as defined in the Equity Transfer Agreement.The Profit Warranty constitutes a derivative financial instrument of the Group.應佔合營企業之損益截至二零二零年三月三十一日止年度，應佔合營企業的溢利約0.01億港元（二零一八年十二月一日至二零一九年三月三十一日期間：溢利約0.02億港元）完全來自分佔Gold Victor

93、y Resources Inc.（Gold Victory）及其附屬公司（統稱合營集團）的凈溢利（包括收購相關的會計調整）。為拓展合約工程業務至門、門框、傢俬及其他相關產品的生產、安裝及買賣，於二零一八年十一月三十日，Grand Superb Limited（Grand Superb，為本公司之一間間接全資附屬公司）作為買方，從Golden Stone Asia Inc.（Golden Stone，一間受控於黃建華先生（黃先生，為獨立第三方）的公司）購入Gold Victory的50%權益。於二零一九年十二月，合營集團為簡化營運和管理營運風險，將其位於中華人民共和國（中國）的生產部門出售並獲得

94、收益。根據Grand Superb、Golden Stone及黃先生於二零一八年十一月三十日訂立的一份股權轉讓協議（股權轉讓協議），黃先生向Grand Superb作出不可撤銷保證及擔保，保證合營集團於二零一八年十二月一日起至二零二二年三月三十一日止期間（溢利保證期）的總實際溢利將不低於保證溢利（保證溢利）0.50億港元（溢利保證）。倘根據核數師核證，證實合營集團無法於溢利保證期取得或達到保證溢利的總額，Golden Stone須向Grand Superb支付實際溢利與保證溢利的差額之50%，除非有關差額乃由股權轉讓協議內所界定之不可抗力之事件所導致，則作別論。該溢利保證構成本集團的一項衍生金

95、融工具。18Annual Report 2019-2020 年報ManageMent Discussion anD analysis管理層討論及分析受COVID-19擴散的影響，合營集團於收購日期起至二零二零年三月三十一日止期間的累計利潤金額低於先前的預期金額約0.02億港元。本集團會密切監察合營集團於餘下溢利保證期的財務表現，以確保達成溢利保證或根據股權轉讓協議採取補救方案。所得稅開支所得稅開支由截至二零一九年三月三十一日止年度約0.29億港元，減少46%至截至二零二零年三月三十一日止年度約0.16億港元。跌幅與本年度之應課稅溢利的減少一致。母公司持有者應佔溢利由於上述因素，母公司持有者應佔

96、溢利由截至二零一九年三月三十一日止年度約1.41億港元，減少83%至截至二零二零年三月三十一日止年度約0.24億港元。財務回顧資本架構、流動資金及財務資源本集團的資本僅由普通股組成。本集團於二零二零年三月三十一日的權益總額約為12.55億港元（二零一九年三月三十一日：約13.13億港元）。本集團根據淨槓桿比率來監察資本架構。淨槓桿比率以銀行借款總額減去現金及現金等值物，除以母公司持有者應佔權益計算。於二零二零年三月三十一日，本集團的淨槓桿比率為零（二零一九年三月三十一日：零）。由於(i)經營業務產生的淨現金流出；(ii)受限制現金增加；(iii)銀行貸款淨增加；及(iv)年內支付二零一八至一九

97、年度的末期股息的綜合影響，本集團之現金及現金等值物由於二零一九年三月三十一日約8.97億港元減少31%至於二零二零年三月三十一日約6.17億港元。本集團於二零二零年三月三十一日的流動比率為1.8，而於二零一九年三月三十一日則為1.7。流動比率以流動資產總值除以流動負債總值計量。Due to the impacts caused by the outbreak of COVID-19,the accumulated amount of profit that the JV Group recognised during the period from the acquisition date u

98、p to 31 March 2020 was lower than that previously estimated by approximately HK$2 million.The Group will closely monitor the financial performance of the JV Group during the remaining Profit Warranty Period to ensure the Profit Warranty are met or remedy action has been taken according to the Equity

99、 Transfer Agreement.Income Tax ExpenseIncome tax expense decreased by 46%from approximately HK$29 million for the year ended 31 March 2019 to approximately HK$16 million for the year ended 31 March 2020.The decrease was consistent with the decrease in taxable profit for this year.Profit Attributable

100、 to Owners of the ParentAs a result of the foregoing,profit attributable to owners of the parent decreased by 83%from approximately HK$141 million for the year ended 31 March 2019 to approximately HK$24 million for the year ended 31 March 2020.FINANCIAL REVIEWCapital Structure,Liquidity and Financia

101、l ResourcesThe capital of the Group only comprises ordinary shares.The total equity of the Group as at 31 March 2020 was approximately HK$1,255 million(31 March 2019:approximately HK$1,313 million).The Group monitors capital structure using a net gearing ratio,which is measured as total bank borrowi

102、ngs less cash and cash equivalents,divided by equity attributable to owners of the parent.As at 31 March 2020,the Groups net gearing ratio was 0(31 March 2019:0).Due to the combined effects of(i)net cash outflows from operating activities;(ii)increase in restricted cash;(iii)net increase in bank bor

103、rowings;and(iv)payment of 2018/19 final dividend during the year,the Groups cash and cash equivalents recorded a decrease of 31%from approximately HK$897 million as at 31 March 2019 to approximately HK$617 million as at 31 March 2020.Current ratio of the Group stood at 1.8 at 31 March 2020,while tha

104、t as at 31 March 2019 was 1.7.Current ratio is measured as total current assets divided by total current liabilities.19ABLE ENGINEERING HOLDINGS LIMITED 安保工程控股有限公司ManageMent Discussion anD analysis管理層討論及分析The Groups banking facilities,comprising primarily bank loans,overdrafts and performance bonds,

105、amounted to approximately HK$2,040 million as of 31 March 2020(31 March 2019:approximately HK$1,620 million),of which approximately HK$1,717 million(31 March 2019:approximately HK$1,341 million)was unutilised.The Group maintains sufficient working capital resources to execute its contract works.The

106、Group will continuously takes a prudent and cautious approach to cash application and its capital commitments.Interest ExposureAt 31 March 2019 and 31 March 2020,the Groups bank borrowings were all denominated in Hong Kong dollars and on a floating rate basis.The Groups bank accounts were operated w

107、ith principal bankers in Hong Kong.The interest rates of these bank accounts are determined by reference to the respective banks offer rate.For the year ended 31 March 2019 and 31 March 2020,the Group did not engage in any interest rates and currency hedging or speculation activities.Foreign Exchang

108、e ExposureThe Groups business operations are principally in Hong Kong,and certain operation of a joint renture was in the PRC during the year.Majority of the Groups business transactions are denominated in the local currencies.Hence,the Group is not exposed to significant foreign exchange risk.Prope

109、rty,plant and equipmentThe Groups property,plant and equipment amounted to approximately HK$619 million as of 31 March 2020(31 March 2019:approximately HK$690 million).The decrease was mainly due to the derecognition of the full remaining net book value of the building portion of Man Shung of approx

110、imately HK$41 million and the depreciation of right-of-use assets of approximately HK$29 million provided during the year.The right-of-use assets recognised upon the adoption of HKFRS 16 were included in the“Property,plant and equipment”.本集團的銀行信貸主要包括銀行貸款、透支及履約擔保，於二零二零年三月三十一日的額度約為20.40億港元（於二零一九年三月三十一

111、日：約16.20億港元），其中約17.17億港元（於二零一九年三月三十一日：約13.41億港元）尚未動用。本集團維持足夠的營運資金資源，以執行其合約工程。本集團對現金運用及資本承擔，將繼續持保守及審慎態度。利率風險於二零一九年三月三十一日及二零二零年三月三十一日，本集團的銀行貸款均以港元計值，並按浮動利率計算利息。本集團的銀行賬戶在香港主要銀行開設，相關銀行賬戶的利率由有關銀行拆放利率而釐定。於截至二零一九年三月三十一日及二零二零年三月三十一日止之年度內，本集團並無從事任何利率及貨幣對沖或投機活動。外幣匯兌風險本集團的業務經營主要位於香港，而一間合營企業的部份業務於年內則位於中國。本集團業務交

112、易大多數以當地貨幣計值。因此，本集團並無面臨重大外幣匯兌風險。物業、機器及設備本集團的物業、機器及設備於二零二零年三月三十一日的金額約6.19億港元（於二零一九年三月三十一日：約6.90億港元）。減少主要由於年內終止確認萬順的樓宇部分的全數賬面淨值約0.41億港元及使用權資產的折舊約0.29億港元。因採納香港財務報告準則第16號而確認的使用權資產包括在 物業、機器及設備 內。20Annual Report 2019-2020 年報ManageMent Discussion anD analysis管理層討論及分析Accounts ReceivableThe Groups accounts re

113、ceivable represented the receivables for contract works in relation to completed and on-going contract works projects.Accounts receivable represents progress billing of work performed by us and the progress payment certificates issued by and received from our customers.The level of accounts receivab

114、le is principally affected by our work progress and the amount of the progress payment certificate received from our customers up to the end of the financial period.Approximately 93%of the accounts receivable as at 31 March 2020 was subsequently settled as at 10 June 2020(31 March 2019:approximately

115、 93%was subsequently settled by 31 May 2019).Contract AssetsBalance at current year end mainly represented retention receivables of approximately HK$168 million(31 March 2019:approximately HK$162 million)and unbilled revenue of approximately HK$51 million(31 March 2019:approximately HK$58 million).R

116、etention receivables represent the retention monies required by our customers to secure our Groups due performance of the contracts.Other Payables and AccrualsAs of 31 March 2020,the current and non-current balances of other payable and accruals amounted to approximately HK$222 million(31 March 2019

117、:approximately HK$386 million)and HK$7 million(31 March 2019:Nil),respectively,which mainly represented provision for contract works,staff costs payable and the lease liabilities recognised under HKFRS 16.Decrease in total balance of approximately HK$157 million in current year end was the combined

118、effects of the decrease in provision for contract works of approximately HK$175 million and the recognition of lease liabilities of approximately HK$17 million upon the adoption of HKFRS 16.The lease liabilities were included in“Other payables and accruals”in the consolidated statement of financial

119、position.應收賬款本集團的應收賬款為有關已完成及在建合約工程項目的合約工程應收款。應收賬款為進行工程的進度款項及來自客戶發出及取得的階段付款證明書。應收賬款水平主要受於報告期末前的工程進度及截至財政年度止來自客戶取得的分階段付款證明書中的金額所影響。於二零二零年三月三十一日的應收賬款中，約93%已於其後於二零二零年六月十日或以前收回（於二零一九年三月三十一日：約93%已於二零一九年五月三十一日或以前收回）。合約資產本年度末餘額主要為應收保證金約1.68億港元（於二零一九年三月三十一日：約1.62億港元）及未發出付款證明書的收入約0.51億港元（於二零一九年三月三十一日：約0.58億港元

120、）。應收保證金指客戶為確保本集團按合約如期完工所需的保留金。其他應付款及應計費用於二零二零年三月三十一日，其他應付款及應計費用的流動及非流動部份餘額分別約2.22億港元（於二零一九年三月三十一日：約3.86億港元）及0.07億港元（於二零一九年三月三十一日：無），其主要為合約工程的撥備、應付員工費用及按香港財務報告準則第16號確認的租賃負債。本年年末的總結餘減少約1.57億港元，主要由於合約工程的撥備下跌約1.75億港元及採納香港財務報告準則第16號而確認的租賃負債約0.17億港元的綜合影響。租賃負債於綜合財務狀況表中包括在 其他應付款及應計費用 內。21ABLE ENGINEERING HO

121、LDINGS LIMITED 安保工程控股有限公司ManageMent Discussion anD analysis管理層討論及分析Charges on AssetsAs at 31 March 2020,the accounts receivable,unbilled revenue and retention receivables related to certain contract works of HK$130,653,000(31 March 2019:HK$21,963,000),HK$43,824,000(31 March 2019:HK$23,255,000)and HK

122、$103,575,000(31 March 2019:HK$57,871,000),respectively were pledged in favour of certain banks to secure certain bank loans and banking facilities granted by those banks to the Group.As at 31 March 2020,bank deposits amounting to HK$110,000,000(31 March 2019:Nil)were placed as guaranteed deposit for

123、 the performance bond issued by the relevant bank in relation to a construction project of the Group and the Groups bank loans with an aggregate carrying amounts of HK$121,517,000(31 March 2019:Nil)were secured by certain deposits accounts maintained with the relevant banks as continuing security fo

124、r the obligations of the Group.Contingent liabilitiesDetails of the Groups contingent liabilities are set out in note 30 to the financial statements.Capital commitmentsDetails of the Groups capital commitments are set out in note 31 to the financial statements.SIGNIFICANT INVESTMENT HELD AND FUTURE

125、PLANS FOR MATERIAL INVESTMENTS ON CAPITAL ASSETSThe Group did not have any significant investment held as at 31 March 2020.The Group is currently investigating and evaluating different investment opportunities.資產抵押於二零二零年三月三十一日，若干合約工程有關的應收賬款、未發出付款證明書的收入及應收保證金分別為130,653,000港元（於二零一九年三月三十一日：21,963,000港元

126、）、43,824,000港元（於二零一九年三月三十一日：23,255,000港元）及103,575,000港元（於二零一九年三月三十一日：57,871,000港元）已抵押予若干銀行以擔保該等銀行授予本集團的若干銀行貸款及銀行信貸。於二零二零年三月三十一日，銀行存款總值110,000,000港元（於二零一九年三月三十一日：無）存放於相關銀行作為該銀行就本集團一項建築工程項目開出的履約保證金的保證存款及本集團的銀行貸款總值121,517,000港元（於二零一九年三月三十一日：無）以本集團於相關銀行持有的若干存款戶口作為本集團的責任的持續抵押品?；蛉回搨炯瘓F之或然負債之詳情載於財務報表附註30。資

127、本承諾本集團之資本承諾之詳情載於財務報表附註31。持有的重大投資及有關資本資產重大投資的未來計劃本集團於二零二零年三月三十一日並無持有任何重大投資。本集團目前正研究及評估不同的投資機會。22Annual Report 2019-2020 年報ManageMent Discussion anD analysis管理層討論及分析MATERIAL ACQUISITION AND DISPOSALSPossible AcquisitionAs disclosed in the joint announcement of the Company and Vantage International(Hol

128、dings)Limited(“Vantage”,stock code:15,an intermediate holding company of the Company)dated 9 July 2019,Rhythm Classic Limited(the“Purchaser”,an indirect wholly-owned subsidiary of the Company)entered into a framework agreement on 9 July 2019(the“Framework Agreement”)with an independent third party(“

129、Vendor”)for the possible acquisition of 100%of the equity interest of a Hong Kong company(the“Target Company”)and 100%of the interest-free shareholder loan(if any)advanced by the Vendor to the Target Company at a consideration of HK$130 million(the“Possible Acquisition”).Pursuant to the Framework Ag

130、reement,the Possible Acquisition is conditional upon,among others,the fulfilment of the conditions as stated in the Framework Agreement(the“Conditions Precedent”)within 180 days from the date of signing of the Framework Agreement,or such other period as duly agreed by both parties in writing(the“Agr

131、eement Valid Period”).Further disclosed in the joint announcement of the Company and Vantage dated 2 January 2020,given that additional time was required for the fulfillment of the Conditions Precedent,the Purchaser and the Vendor have entered into a supplementary agreement on 2 January 2020,to exte

132、nd the Agreement Valid Period to 2 July 2020(or such other period as duly agreed by both parties in writing).Up to the date of this annual report,the Conditions Precedent have not been fulfilled and no deposit has been paid to the Vendor.The Possible Acquisition is subject to,among others,fulfillmen

133、t of the Conditions Precedent and the entering into of a formal agreement(the“Formal Agreement”).The Possible Acquisition is also subject to fulfilment of such conditions precedent as may be provided under the Formal Agreement,which terms and conditions are yet to be finalised.The Framework Agreemen

134、t may or may not lead to the entering into the Formal Agreement,and thus,the Possible Acquisition may or may not proceed.If proceed,it is expected that the Possible Acquisition will constitute a discloseable transaction to the Company under Chapter 14 of the Rules(the“Listing Rules”)Governing the Li

135、sting of Securities on The Stock Exchange of Hong Kong Limited(“The Stock Exchange”).Further announcement(s)in relation to the Possible Acquisition will be made by the Company as and when appropriate in accordance with the Listing Rules.重大收購及出售可能收購事項誠如本公司與盈信控股有限公司（盈信，股份代號：15，本公司的一間中間控股公司）於日期為二零一九年七月

136、九日的聯合公告所披露，Rhythm Classic Limited（買方，本公司的一間間接全資附屬公司）與一獨立第三方（賣方）於二零一九年七月九日就可能收購一間香港公司（目標公司）的100%股本權益及賣方向該目標公司提供的100%免息股東貸款（如有）之事項訂立框架協議（框架協議），代價為1.30億港元（可能收購事項）。根據框架協議，可能收購事項須待（其中包括）達成框架協議所列條件（先決條件）後方可作實，而達成先決條件限期為框架協議簽署日期起180天內（或雙方經書面協定之其他日期）（協議有效期）。本公司與盈信於日期為二零二零年一月二日的聯合公告進一步披露，由於需要更多時間達成先決條件，買方與賣方

137、於二零二零年一月二日訂立一份補充協議，以延長協議有效期至二零二零年七月二日（或雙方經書面協定之其他日期）。截至本年度報告之日期，先決條件仍未獲達成及並無支付保證金予賣方?？赡苁召徥马楉毚ㄆ渲邪ǎ┫葲Q條件獲達成及訂立正式協議（正式協議）後方可作實?？赡苁召徥马椧嗍芟揿墩絽f議中可能規定的先決條件的達成，而有關協議之條款及條件尚未落實?？蚣軈f議可能會或可能不會導致簽訂正式協議。因此，可能收購事項可能會或可能不會進行。如進行可能收購事項，預期該交易將根據香港聯合交易所有限公司（聯交所）證券上市規則（上市規則）第十四章構成本公司的一項須予披露交易。本公司將適時根據上市規則就可能收購事項刊發進一步公

138、告。23ABLE ENGINEERING HOLDINGS LIMITED 安保工程控股有限公司ManageMent Discussion anD analysis管理層討論及分析USE OF PROCEEDS FROM THE LISTINGThe shares of the Company(the“Share(s)”)were listed(the“Listing”)on the Main Board of The Stock Exchange on 20 February 2017.Net proceeds from the Listing were approximately HK$5

139、24 million(after deducting the underwriting commission and other expenses in relation to the 500,000,000 new ordinary shares issued pursuant to the listing of Shares on The Stock Exchange.As at 31 March 2020,the unused net proceeds were approximately HK$82 million(31 March 2019:approximately HK$181

140、million).The unused proceeds were deposited in licensed banks in Hong Kong.According to the section“Future Plans and Proposed Use of Proceeds”as set out in the prospectus of the Company dated 26 January 2017(the“Prospectus”),the Group used the net proceeds during the year ended 31 March 2020 as foll

141、ows:Net proceedsfromthe ListingUnusedamount at1 April 2019Used inthis yearUnusedamount at31 March 2020上市所得款項淨額於二零一九年四月一日尚未動用金額本年動用之金額於二零二零年三月三十一日尚未動用金額HK$MillionHK$MillionHK$MillionHK$Million百萬港元百萬港元百萬港元百萬港元(Note)（附註）Maintaining and increasing the employed capital requirement and working capital req

142、uirement for future/new projects in the public sector維持並增加未來新公營 項目的所需資本及 營運資金需求402179(97)82Payment for the upfront costs支付前期成本70General working capital一般營運資金522(2)Total總額524181(99)82 Note:The unused proceeds of approximately HK$82 million as at 31 March 2020 were consumed for the purpose of“Maintain

143、ing and increasing the employed capital requirement and working capital requirement for future/new projects in the public sector”when a new project was awarded to“Build King-ABLE Joint Venture”,a new joint operation in which the Company has 49%interest,subsequent to the year ended 31 March 2020.上市所得

144、款項用途本公司股份（股份）於二零一七年二月二十日在聯交所主板上市（上市）。上市所得款項淨額約為5.24億港元（經扣除與因本公司股市於聯交所上市而發行的500,000,000股普通新股份有關的包銷傭金及其他開支）。於二零二零年三月三十一日，尚未動用之款項淨額約為0.82億港元（於二零一九年三月三十一日：約1.81億港元）。尚未動用所得款項存放於香港持牌銀行。根據本公司日期為二零一七年一月二十六日之招股章程（招股章程）所載未來計劃及建議所得款項用途 一節，本集團截至二零二零年三月三十一日止年度期間將所得款項淨額用作以下用途:附註：於二零二零年三月三十一日尚未動用之款項約0.82億港元，當 利基安保

145、聯合體（本集團佔該新的共同經營49%權益）於截至二零二零年三月三十一日止年度後取得一項新項目時，已被用於 維持並增加未來新公營項目的所需資本及營運資金需求 的用途。24Annual Report 2019-2020 年報ManageMent Discussion anD analysis管理層討論及分析EMPLOYEES AND REMUNERATION POLICYAs of 31 March 2020,the Group employed 336 full-time employees(31 March 2019:360)in Hong Kong.The Group remunerates

146、 its employees based on their performance and work experience and with reference to the prevailing market conditions.On top of the regular remuneration,discretionary bonus and share options may be granted to senior management and staff members by reference to the Groups performance,specific projects

147、 performance as well as the individual employees performance.Staff benefits include mandatory provident fund,medical insurance,incentive travel,subsidies for education and training programmes.At the Annual General Meeting(“AGM”)of the Company held on 31 August 2018,the adoption of a share option sch

148、eme(the“Option Scheme”)was considered and approved.The purposes of the Option Scheme are to provide incentives for the directors and full-time employees of the members of the Group to work towards enhancing the value of the Company and its Shares for benefit of the Company and its shareholders as a

149、whole.The Option Scheme provides the Group with a flexible means of either retaining,incentivising,rewarding,remunerating,compensating and/or providing benefits to participants of the scheme.From the date of adoption of the Option Scheme and up to 31 March 2020,the Company did not grant any share op

150、tions under the Option Scheme and no equity-settled share option expense was charged to the profit or loss.僱員及薪酬政策於二零二零年三月三十一日，本集團於香港聘用336名（於二零一九年三月三十一日：360名）全職僱員。本集團根據僱員之表現、工作經驗及參考現行市場狀況以釐定其薪酬。除一般薪酬外，本集團因應本集團業績、個別項目之業績及僱員之個人表現，或會向高級管理層及僱員授出酌情花紅及購股權。僱員福利包括強制性公積金、醫療保險、獎勵旅遊、教育津貼及培訓計劃。本公司於其二零一八年八月三十一日舉

151、行之股東週年大會（股東週年大會）上，審議並批準採納一項購股權計劃（購股權計劃）。購股權計劃旨在鼓勵本集團各成員的董事及全職僱員為本公司及其股東的整體利益，努力提升本公司及其股份的價值。購股權計劃令本集團能靈活挽留、獎勵、回饋、酬報、補償及或向計劃參與者提供利益。自採納購股權計劃之日至二零二零年三月三十一日止，本公司並無根據購股權計劃授出購股權，亦無於損益內扣除任何金額作為權益結算的購股權開支。25ABLE ENGINEERING HOLDINGS LIMITED 安保工程控股有限公司Biographical Details of Directors anD senior ManageMent董

152、事及高級管理層履歷EXECUTIVE DIRECTORSMr.NGAI Chun Hung(“Mr.NGAI”),aged 57,joined the Group in February 1996,a controlling shareholder of the Company,has been the Chairman of the Board and an Executive Director of the Company since July 2016.Mr.NGAI is also the chairman of the board of directors and executive

153、 director of Vantage.Mr.NGAI is a director of certain subsidiaries of the Group.He is also the chairman of the Nomination Committee of the Company.Mr.NGAI has over 23 years of experience in the construction industry and over 16 years of experience in the property industry.He is primarily responsible

154、 for the management of the Board and the strategic planning of the Group.Mr.NGAI and Mr.YAU Kwok Fai are brothers-in-law.Mr.CHEUNG Ho Yuen(“Mr.Cheung”),aged 48,joined the Group in September 2003,has been an Executive Director of the Company since September 2016.Mr.CHEUNG was appointed as the Chief E

155、xecutive Officer of the Company in February 2020.He is also a director of certain subsidiaries of the Group.Mr.CHEUNG is primarily responsible for business development,corporate governance affairs,project estimation,project sub-contracting and procurement management of the Group.Mr.CHEUNG has over 2

156、4 years of experience in the construction industry.He obtained a bachelor degree in Quantity Surveying from University of Greenwich of the United Kingdom(“UK”)in July 1998 and a higher diploma in Building Surveying from City University of Hong Kong in November 1995.執行董事魏振雄先生（魏先生），五十七歲，於一九九六年二月加入本集團，

157、為本公司控股股東，彼自二零一六年七月出任本公司董事會主席及執行董事。魏先生亦為盈信之董事會主席及執行董事。魏先生為本集團若干附屬公司之董事。彼亦為本公司提名委員會之主席。魏先生於建築業擁有逾二十三年經驗，亦於物業市場擁有逾十六年經驗。彼主要負責董事會管理及本集團之策略性規劃工作。魏先生乃游國輝先生之大舅。張浩源先生（張先生），四十八歲，於二零零三年九月加入本集團，彼自二零一六年九月出任本公司執行董事。張先生於二零二零年二月獲委任為本公司之行政總裁。彼亦為本集團若干附屬公司之董事。張先生主要負責本集團的業務發展、企業管治事務、項目估算、項目分包及採購工作管理。張先生於建築業擁有逾二十四年經驗。彼

158、於一九九八年七月取得英國（英國）格林尼治大學工料測量學學士學位及於一九九五年十一月取得香港城市大學屋宇測量學高級文憑。26Annual Report 2019-2020 年報Biographical Details of Directors anD senior ManageMent董事及高級管理層履歷Mr.IP Yik Nam(“Mr.IP”),aged 40,joined the Group in April 2016,has been an Executive Director of the Company since September 2016.Mr.IP was also the

159、Chief Executive Officer of the Company from September 2016 to February 2020.He is also a director of certain subsidiaries of the Group.Mr.IP is primarily responsible for business development,legal and compliance and corporate governance affairs of the Group.Mr.IP has over 15 years of management expe

160、rience through assuming various management roles in companies in the United States and Hong Kong.Mr.IP graduated from Hong Kong Baptist University with a Bachelor of Business Administration degree in Human Resources Management in December 2002.He further obtained a Master of Business Administration

161、degree from Long Island University of the United States in May 2004 and a Bachelor of Laws degree from University of London of the UK in August 2011.Mr.IP is the son of The Hon.IP Kwok Him,GBM,GBS,JP,one of the independent non-executive directors of Vantage.Mr.LAU Chi Fai,Daniel(“Mr.LAU”),aged 51,jo

162、ined the Group in November 2005,has been an Executive Director of the Company since September 2016.He is also a director of certain subsidiaries of the Group.Mr.LAU is primarily responsible for building project management and contract administration work of the Group.Mr.LAU has over 27 years of expe

163、rience in the construction field.He obtained a bachelor degree in Construction Management from South Bank University of the UK in July 1993 and a higher diploma in Building Technology and Management from the Hong Kong Polytechnic in November 1991.He is a member of the Hong Kong Institute of Construc

164、tion Managers.葉亦楠先生（葉先生），四十歲，於二零一六年四月加入本集團，彼自二零一六年九月出任本公司執行董事。葉先生於二零一六年九月至二零二零年二月亦為本公司之行政總裁。彼亦為本集團若干附屬公司之董事。葉先生主要負責本集團的業務發展、法律及合規監察及企業管治事務。葉先生通過於美國及香港出任多間公司的管理層職務，獲得逾十五年的管理經驗。葉先生於二零零二年十二月畢業於香港浸會大學並取得人力資源管理學工商管理學士學位。彼其後於二零零四年五月取得美國長島大學工商管理碩士學位及於二零一一年八月取得英國倫敦大學法律學士學位。葉先生為盈信其中一位獨立非執行董事葉國謙議員（大紫荊勳賢、金紫荊星章

165、、太平紳士）的兒子。劉志輝先生（劉先生），五十一歲，於二零零五年十一月加入本集團，彼自二零一六年九月出任本公司執行董事。彼亦為本集團若干附屬公司之董事。劉先生主要負責本集團的建築項目管理及合約行政工作。劉先生於建築業擁有逾二十七年經驗。彼於一九九三年七月取得英國南岸大學建築管理學學士學位，並於一九九一年十一月取得香港理工學院建築工藝及管理學高級文憑。彼為香港營造師學會的會員。27ABLE ENGINEERING HOLDINGS LIMITED 安保工程控股有限公司Biographical Details of Directors anD senior ManageMent董事及高級管理層履歷

166、Mr.YAU Kwok Fai(“Mr.YAU”),aged 54,joined the Group in February 1996,has been an Executive Director of the Company since July 2016.He is also the deputy chairman of the board of directors,the executive director and the chief executive officer of Vantage.Mr.YAU is a director of certain subsidiaries of

167、 the Group.He is also the member of the Remuneration Committee of the Company.Mr.YAU is responsible for formulating policy and overall development of the Group.Mr.YAU has over 29 years of experience in the construction industry and 16 years of experience in the property industry.Mr.YAU obtained a Ba

168、chelor of Engineering degree in Civil Engineering(First Class Honours)from the Hong Kong Polytechnic in November 1990,a diploma from the Imperial College London of the UK in July 1991 and a Master of Science degree with distinction in Structural Steel Design from the University of London of the UK i

169、n August 1991.Mr.YAU is a Chartered Engineer and a Member of the Institution of Civil Engineers,the Institution of Structural Engineers of the UK and the Hong Kong Institution of Engineers(“HKIE”).He is also a Registered Professional Engineer(Civil&Structural)and a Registered Structural Engineer und

170、er the Buildings Ordinance.Mr.YAU and Mr.NGAI are brothers-in-law.游國輝先生（游先生），五十四歲，於一九九六年二月加入本集團，彼自二零一六年七月起出任本公司執行董事。彼亦為盈信的董事會副主席、執行董事及行政總裁。游先生為本集團若干附屬公司之董事。彼亦為本公司薪酬委員會成員。游先生主要負責制定政策及本集團的整體發展。游先生於建築業擁有逾二十九年經驗，亦於物業市場擁有逾十六年經驗。游先生於一九九零年十一月取得香港理工學院土木工程學工程學士學位（一級榮譽）、於一九九一年七月取得英國倫敦帝國學院的文憑，並於一九九一年八月以優異成績取得英

171、國倫敦大學結構鋼材設計理學碩士學位。游先生為特許工程師及英國土木工程師學會、英國結構工程師學會及香港工程師學會（香港工程師學會）的會員。彼亦為註冊專業工程師（土木及結構）及建築物條例下的註冊結構工程師。游先生乃魏先生的妺夫。28Annual Report 2019-2020 年報Biographical Details of Directors anD senior ManageMent董事及高級管理層履歷INDEPENDENT NON-EXECUTIVE DIRECTORS(“INEDS”)Dr.LI Yok Sheung(“Dr.LI”),aged 67,has been an INED

172、of the Company since January 2017.He is mainly responsible for supervising and providing independent advice to our Board.He is currently the chairman of Remuneration Committee and a member of the Audit Committee and the Nomination Committee of the Company.Dr.LI has over 31 years of experience in civ

173、il engineering and education.He graduated from the University of Hong Kong with a Bachelor of Science degree in Engineering in November 1975 and a Doctor of Philosophy degree in November 1980.Dr.LI joined the Hong Kong Polytechnic as lecturer in September 1984 and was appointed as the Chair Professo

174、r of Coastal and Environmental Engineering in January 2000.From July 2000 to July 2007,he also served as the Head of the Department of Civil and Structural Engineering(renamed as Department of Civil and Environmental Engineering in 2012)of the Hong Kong Polytechnic University.Dr.LI retired from the

175、position of chair professor in June 2013 and was appointed as advisor to Head of Civil and Environmental Engineering from September 2013 to August 2018.Dr.LI is a Registered Professional Engineer.He is also a fellow of the HKIE since September 1997.Dr.LI served on the publications committee of the H

176、KIE between 2002 and 2008 and was the chairman of such committee from 2005 to 2008.He was a member of the Structural Engineers Registration Committee Panel under the Buildings Department in 2004 and 2005.He was appointed as an independent reviewer by the then Territory Development Department for the

177、 Central Reclamation Phase III Project in 2003.獨立非執行董事（獨立非執行董事）李毓湘博士（李博士），六十七歲，自二零一七年一月起出任本公司獨立非執行董事。彼主要負責監督董事會及向董事會提供獨立意見。彼現為本公司薪酬委員會主席以及審核委員會及提名委員會成員。李博士擁有逾三十一年土木工程及教育經驗。彼於一九七五年十一月於香港大學畢業並取得工程學理學士學位及於一九八零年十一月取得哲學博士學位。李博士於一九八四年九月加入香港理工學院為講師，並於二零零零年一月獲委任為海岸及環境工程學講座教授。自二零零零年七月至二零零七年七月，彼亦為香港理工大學土木及結構工

178、程學系（於二零一二年改名為土木及環境工程學系）主任。李博士於二零一三年六月退休卸任講座教授一職，並於二零一三年九月至二零一八年八月被任命為土木及環境工程學系系主任的顧問。李博士為註冊專業工程師。彼亦自一九九七年九月起為香港工程師學會資深會員。李博士於二零零二年至二零零八年間於香港工程師學會出版事務委員會任職及於二零零五年至二零零八年為該委員會的主席。彼於二零零四年至二零零五年為屋宇署轄下結構工程師註冊事務委員會委員團成員。彼於二零零三年獲當時的拓展署委任為獨立審批員，以跟進中區填海第三期工程。29ABLE ENGINEERING HOLDINGS LIMITED 安保工程控股有限公司Biogr

179、aphical Details of Directors anD senior ManageMent董事及高級管理層履歷Ms.MAK Suk Hing(“Ms.MAK”),aged 67,has been an INED of the Company since January 2017.She is mainly responsible for supervising and providing independent advice to our Board.She is currently a member of the Audit Committee,the Remuneration C

180、ommittee and the Nomination Committee of the Company.Ms.MAK has over 36 years of experience in education.She graduated from the Chinese University of Hong Kong(“CUHK”)with a Bachelor of Science degree in October 1975 and a diploma in Education in December 1980.From 1975 to 1997,Ms.MAK served as the

181、assistant education officer,education officer and senior education officer for Education Bureau.She was the principal of Tai Po Government Secondary School from 1997 to 2000 and the principal of South Tuen Mun Government Secondary School from 2000 to 2008.She was a committee member of the School Man

182、agement Committee of the Clementi Secondary School from 2011 to 2013.From November 2013 to August 2015,Ms.MAK was an independent non-executive director of Excel Development(Holdings)Limited(a company which shares are listed on the Main Board of The Stock Exchange,had its name changed to“Bisu Technol

183、ogy Group International Limited”since 16 January 2017;stock code:1372).She has also been a member of New Territories East Region of the Scout Association of Hong Kong until 2017.Ms.MAK is currently the assessor for Needs Analysis for Aspiring Principals Programme in the CUHK.She is also a member of

184、the Executive Committee of Rural Training College Alumni Association Limited.麥淑卿女士（麥女士），六十七歲，自二零一七年一月起出任本公司獨立非執行董事。彼主要負責監督董事會及向董事會提供獨立意見。彼現為本公司審核委員會、薪酬委員會及提名委員會成員。麥女士擁有逾三十六年教育經驗。彼於一九七五年十月於香港中文大學（中文大學）畢業，取得理學學士學位，並於一九八零年十二月取得教育文憑。自一九七五年至一九九七年，麥女士於教育局任職助理教育主任、教育主任及高級教育主任。彼於一九九七年至二零零零年擔任大埔官立中學校長並於二零零零年

185、至二零零八年擔任南屯門官立中學校長。彼於二零一一年至二零一三年為金文泰中學學校管理委員會成員。於二零一三年十一月至二零一五年八月，麥女士為怡益控股有限公司（其股份於聯交所主板上市，於二零一七年一月十六日改名為比速科技集團國際有限公司；股份代號：1372）的獨立非執行董事。直至二零一七年，彼亦為香港童軍總會新界東地域選任委員。麥女士現為中文大學擬任校長課程需要分析員。彼亦為鄉村師範?？茖W校同學會有限公司執行委員會成員。30Annual Report 2019-2020 年報Biographical Details of Directors anD senior ManageMent董事及高級管理

186、層履歷Ms.LEUNG Yuen Shan,Maisy(“Ms.LEUNG”),aged 49,has been an INED of the Company since January 2017.She is mainly responsible for supervising and providing independent advice to our Board.She is currently the chairman of the Audit Committee and a member of the Remuneration Committee and the Nominatio

187、n Committee of the Company.Ms.LEUNG has over 19 years of experience in accounting and finance and substantial experience in managerial roles.She had worked in Deloitte Touche Tohmatsu for over 11 years with extensive experience in auditing,corporate finance,and corporate reorganisation.Ms.LEUNG was

188、then employed by a private broadcasting company as the vice president of finance in charge of its financial activities and a multinational artist management company as the strategic development general manager responsible for its corporate strategic plans and policies from 2009 to 2012.Ms.LEUNG obta

189、ined a Bachelor of Business Administration degree(majoring in Accounting and Finance)from Simon Fraser University,Canada in May 1995 and a Master Business Administration degree in Business Management(majoring in International Management)from University of London of the UK in November 1997.梁婉珊女士（梁女士）

190、，四十九歲，自二零一七年一月起出任本公司獨立非執行董事。彼主要負責監督董事會及向董事會提供獨立意見。彼現為本公司審核委員會主席以及薪酬委員會及提名委員會成員。梁女士擁有逾十九年會計及金融經驗以及豐富的管理經驗。彼曾於德勤關黃陳方會計師事務所工作逾十一年，有豐富的審計、企業融資及企業重組經驗。梁女士其後於二零零九年至二零一二年獲一間私人廣播公司聘任為財務副總裁，負責其財務活動，並獲一間跨國藝人管理公司聘任為策略發展總經理，負責其企業策略計劃。梁女士於一九九五年五月取得加拿大西門菲莎大學工商管理學（主修會計金融學）學士學位，並於一九九七年十一月取得英國倫敦大學商業管理學（主修國際管理學）工商管理碩

191、士學位。31ABLE ENGINEERING HOLDINGS LIMITED 安保工程控股有限公司Biographical Details of Directors anD senior ManageMent董事及高級管理層履歷SENIOR MANAGEMENTMr.YAM Kui Hung,aged 61,joined the Group in February 1996 as a director of a major subsidiary of the Group.Mr.YAM was also an Executive Director of the Company from Sep

192、tember 2016 to February 2020.Mr.YAM is primarily responsible for quality assessment,project risk management and internal audit of the Group.Mr.YAM has over 40 years of experience in the construction field.He obtained a higher certificate in Building Studies from the Hong Kong Polytechnic in November

193、 1982 and a postgraduate diploma in Construction Management from the Construction Industry Training Authority in Hong Kong in October 1989.He is a corporate member of the HKIE.Mr.NG Kai Chow,aged 51,joined the Group in October 2002,is currently a project manager of the Group and is responsible for p

194、rovision of building project management and contract administration works of certain contract works.Mr.NG has over 32 years of experience in the construction industry.He obtained a postgraduate diploma in Construction Law and Arbitration in October 2005 from the University of Hong Kong School of Pro

195、fessional and Continuing Education and a diploma in Construction from the College of Estate Management of the UK in August 2001.Mr.CHEUNG Pak Lun,aged 41,joined the Group in September 2002,is currently a project manager of the Group and is mainly responsible for provision of building project managem

196、ent and contract administration works of certain contract works.Mr.CHEUNG has over 18 years of experience in the construction industry,in particular,working experience in private and public residential and institutional developments.He obtained a bachelor degree in Building Engineering and Managemen

197、t from the Hong Kong Polytechnic in November 2002.高級管理層任鉅鴻先生，六十一歲，於一九九六年二月加入本集團為本集團一間主要附屬公司之董事。任先生於二零一六年九月至二零二零年二月亦為本公司之執行董事。任先生主要負責本集團的品質評估、項目風險管理及內部監控。任先生於建築業擁有逾四十年經驗。彼於一九八二年十一月取得香港理工學院建築系高級文憑，並於一九八九年十月取得香港建築業訓練局建築管理深造文憑。彼為香港工程師學會的正式會員。吳啟洲先生，五十一歲，於二零零二年十月加入本集團，現為本集團之項目經理，主要負責提供建築項目管理及若干合約工程的合約行政工作

198、。吳先生於建築業擁有逾三十二年經驗。彼於二零零五年十月取得香港大學專業進修學院建築法及仲裁深造文憑，並於二零零一年八月取得英國產業管理學院建築學文憑。張柏倫先生，四十一歲，於二零零二年九月加入本集團，現為本集團之項目經理，主要負責提供建築項目管理及若干合約工程的合約行政工作。張先生於建築業擁有逾十八年經驗，尤其私人及公共住宅及機構發展項目的工作經驗。彼於二零零二年十一月取得香港理工學院建築工程及管理學學士學位。32Annual Report 2019-2020 年報Biographical Details of Directors anD senior ManageMent董事及高級管理層履歷

199、林炎宏先生，四十四歲，於二零一七年五月加入本集團，現為本集團之項目經理，主要負責提供建築項目管理及若干合約工程的合約行政工作。林先生於建築業擁有逾二十四年經驗，尤其公共住宅及機構發展項目的工作經驗。彼於二零零二年十月取得澳洲科廷大學建築管理及經濟學學士學位。黃富昌先生，四十一歲，於二零一九年三月加入本集團，彼自二零一九年四月十二日獲委任為本公司公司秘書（公司秘書）及本集團財務總監，主要負責監督本集團之財務事宜及公司秘書事務。黃先生擁有逾十八年的會計、審計、財務及公司秘書經驗，並為香港會計師公會會員。黃先生於二零零一年五月取得中文大學工商管理學士（專業會計）學位。加入本集團前，黃先生曾於一間國際

200、會計師事務所工作及曾為一間香港上市公司的財務部主管。Mr.LAM Yim Wang,aged 44,joined the Group in May 2017,is currently a project manager of the Group and is mainly responsible for provision of building project management and contract administration works of certain contract works.Mr.LAM has over 24 years of experience in the

201、construction industry,in particular,working experience in public residential and institutional developments.He obtained a bachelor degree of Applied Science in Construction Management and Economics from the Curtin University of Technology of the Australia in October 2002.Mr.WONG Fu Cheong,Desmond,ag

202、ed 41,joined the Group in March 2019.He has been appointed as the company secretary(the“Company Secretary”)of the Company and financial controller of the Group since 12 April 2019.He is primarily responsible for overseeing the financial matters and company secretarial affairs of the Group.Mr.WONG ha

203、s over 18 years accounting,auditing,financing and company secretarial experience and is a member of the Hong Kong Institute of Certified Public Accountants.Mr.WONG obtained a Bachelor of Business Administration(Professional Accountancy)degree from the CUHK in May 2001.Prior to joining the Group,he h

204、ad worked in an international accounting firm and was the head of finance department in a listed company in Hong Kong.33ABLE ENGINEERING HOLDINGS LIMITED 安保工程控股有限公司Corporate GovernanCe report企業管治報告Corporate governance is the system by which the Company is directed and controlled.The Board is fully a

205、ware of its importance to the Shareholders and has developed a rigorous system of checks and balances which allows management to respond to the strategic directions approved by the Board.The Board believes that a well-balanced corporate governance system enables the Company to achieve business excel

206、lence and fulfill the Companys mission.This report describes the Companys corporate governance practices and structures that were in place during the financial year ended 31 March 2020,with specific reference to the principles and guidelines of the“Corporate Governance Code and Corporate Governance

207、Report”(the“CG Code”)as set out in Appendix 14 to the Listing Rules.In developing and reviewing its corporate governance policies and practices,the Company has sought to adopt a balanced approach.C O M P L I A N C E W I T H C O R P O R A T E GOVERNANCE CODEIn the opinion of the Directors,the Company

208、 complied with the code provisions as set out in the CG Code throughout the year ended 31 March 2020.企業管治為本公司之指導及監控系統。董事會充分了解企業管治對股東之重要性，因此建立了一套嚴謹的監察及衡制制度，使管理層能配合董事會訂立之策略方針。董事會相信，一套平衡的企業管治系統，可以讓本公司獲得業務優勢，及實現本公司之使命。本報告乃按上市規則附錄十四 企業管治守則及企業管治報告（企業管治守則）所載之原則及指引編制，說明本公司於截至二零二零年三月三十一日止之財政年度內實行之企業管治常規及架構。在

209、擬定及檢討企業管治政策及常規時，本公司已盡量採取平衡之方法。遵守企業管治守則董事認為，於截至二零二零年三月三十一日止年度，本公司已遵守企業管治守則所載的守則條文。34Annual Report 2019-2020 年報Corporate GovernanCe report企業管治報告THE BOARDThe overall management of the Companys business is vested in the Board,which assumes the responsibility for leadership and control of the Company,and

210、 the Directors are collectively responsible for promoting the success of the Company by directing and supervising its affairs and overseeing the achievement of strategic plans to enhance Shareholders value.The Board has undertaken the corporate governance function as required under the CG Code.The B

211、oard is responsible for all major aspects of the Companys affairs,which includes:formulatingkeypolicymatters,overallstrategicplansanddirections,and objectives of the Group;monitoringtheperformanceofthemanagementoftheGroup;appointingmembersandchairmantotheBoardandtheBoards committees;implementingandm

212、onitoringaneffectiveframeworkofrisk management and internal controls;monitoringmaterialtransactions(including,inparticular,those which may involve conflicts of interest);approvinginterimreports,annualreports,announcementsand considering dividend policy;ensuringtheCompanyhasgoodcorporategovernanceand

213、 review and monitor its policies and practices on compliance with all applicable legal and regulatory requirements;andapprovingandmonitoringothersignificantfinancialandoperational matters.Responsibilities over day-to-day operations are delegated to the management under the leadership of the Executiv

214、e Directors.董事會本公司業務的整體管理歸屬於董事會，它承擔領導及控制本公司的責任，董事通過指導和監督公司事務及監察戰略的實現以提升股東價值，對促進公司的成功共同負責。董事會按企業管治守則之要求負責企業管治功能。董事會負責本公司所有類型的主要決策，當中包括：制定本集團的關鍵政策、策略性計劃、方向及目標；監察本集團管理層的表現；任命董事會和董事會委員會的成員和主席；實行及監察有效的風險管理及內部監控框架；監察重大交易（尤其包括可能涉及利益衝突的交易）；審批中期報告、年度報告、公告及商討派息政策；確保本公司有良好的企業管治，檢討及監察其就遵守所有適用法律及監管規定所制定之政策及常規；及審

215、議及監察其他重大財務及營運事宜。在執行董事的領導下，管理層負責日常運作。35ABLE ENGINEERING HOLDINGS LIMITED 安保工程控股有限公司Corporate GovernanCe report企業管治報告As at 31 March 2020,the Board is composed of eight Directors,including five Executive Directors and three INEDs.Executive DirectorsMr.NGAI Chun Hung(Chairman)Mr.CHEUNG Ho Yuen(Chief Exe

216、cutive Officer)Mr.IP Yik NamMr.LAU Chi Fai,DanielMr.YAU Kwok FaiIndependent Non-executive DirectorsDr.LI Yok SheungMs.MAK Suk HingMs.LEUNG Yuen Shan,MaisyBrief biographical details of the Directors are set out in the section“BIOGRAPHICAL DETAILS OF DIRECTORS AND SENIOR MANAGEMENT”on pages 25 to 32 o

217、f this annual report.A list of Directors and their role and function is also available on the Companys websites.The Board has a balance of skills and experience appropriate for the requirements of the Groups business.All Directors have separate and independent access to the advice and services of th

218、e senior management and the Company Secretary,with a view to ensuring that board procedures and all applicable rules and regulations are followed.When needed and upon making request to the Board,the INEDs may obtain independent professional advice at the Companys expense in carrying out their duties

219、.The Company has arranged insurance cover in respect of legal action against the Directors and its officers.The insurance coverage is reviewed annually to ensure that the Directors and officers are adequately protected against potential liabilities.於二零二零年三月三十一日，董事會由八名董事組成，包括五名執行董事以及三名獨立非執行董事。執行董事魏振雄

220、先生（主席）張浩源先生（行政總裁）葉亦楠先生劉志輝先生游國輝先生獨立非執行董事李毓湘博士麥淑卿女士梁婉珊女士各董事之簡歷已載列於本年度報告第25頁至第32頁 董事及高級管理層履歷 一節。一份董事名單與其角色和職能亦已載列於本公司網頁。董事會具備適當之技能和經驗以處理本集團之業務需求。為確保董事會程序及所有適用規則及規例均獲得遵守，所有董事皆有各自及獨立途徑接觸高級管理層及公司秘書以獲得他們的意見和服務。在履行職責時，獨立非執行董事可按需要向董事會提出要求，以取得獨立專業意見，相關費用由本公司承擔。本公司已就董事及高級管理層可能會面對的法律行動作出投保安排。為確保董事及高級管理層受充份保障，以防

221、承受潛在負債，該保障範圍會按年檢討。36Annual Report 2019-2020 年報Corporate GovernanCe report企業管治報告The INEDsDuring the year ended 31 March 2020,the Board at all times met the requirements of the Listing Rules relating to the appointment of at least three INEDs,with at least one INED possessing appropriate professional

222、qualifications,or accounting or related financial management expertise as required by Rules 3.10(1)and 3.10(2)of the Listing Rules.The Company has also met the requirement of at least one-third of members of the Board being INEDs as required by Rules 3.10A of the Listing Rules.The three INEDs of the

223、 Company are persons of high caliber,with professional qualifications and experience in the fields of engineering,education and accounting and finance.With their experience gained from various sectors,they provide strong support towards the effective discharge of the duties and responsibilities of t

224、he Board.The INEDs are appointed for a fixed specific term.Each of Dr.LI,Ms.MAK,Ms.LEUNG,all being INEDs,has made an annual confirmations of independence pursuant to Rule 3.13 of the Listing Rules.The Company has assessed the independence and considers all of the INEDs to be independent based on the

225、 independence guidelines set out in Rule 3.13 of the Listing Rules,their non-involvement in the daily operation and management of the Group and the absence of any relationships which will interfere with the exercise of their independent judgment.The Company confirms that year of service of all INEDs

226、 is less than 9 years.獨立非執行董事於截至二零二零年三月三十一日止年度內，董事會於所有時間均符合上市規則之規定，委任最少三名獨立非執行董事，而其中最少一名獨立非執行董事具備上市規則第3.10(1)及3.10(2)條規定的適當專業資格，或會計或有關財務管理之專業知識。本公司亦已符合上市規則第3.10A條規定的最少三份之一的董事會成員須為獨立非執行董事之要求。本公司的三位獨立非執行董事皆擁有卓越才幹，在工程、教育和會計及財務領域擁有學術及專業資歷。彼等來自不同界別的經驗，為有效履行董事會的職責和責任，提供了強力的支持。獨立非執行董事均有指定任期。每位獨立非執行董事（分別為李博

227、士、麥女士及梁女士）均已根據上市規則第3.13條，分別向本公司提交確認其符合獨立性之年度確認書。本公司已評估其獨立性，並根據上市規則第3.13條所列獨立性標準的規定、彼等並無參與本集團日常營運及管理，且並無任何關係會干擾彼等行使獨立判斷，認為所有獨立非執行董事均屬獨立人士。本公司確認所有獨立非執行董事的服務年期均少於9年。37ABLE ENGINEERING HOLDINGS LIMITED 安保工程控股有限公司Corporate GovernanCe report企業管治報告MeetingsRegular Board meetings are held at least four times

228、 a year at approximately quarterly intervals.Tentative dates of regular Board meetings for next year are scheduled approaching the end of each calendar year in order to facilitate the Directors to plan for attendance of the meetings.Meetings will also be convened,as and when required,to deal with ad

229、 hoc issues.Any Director who is not able to present physically may participate at any Board meeting through electronic means of communication,such as conference telephone or other similar communication equipment,in accordance with the Articles of Association of the Company(the“Articles”).Notice conv

230、ening each regular Board meeting is sent at least 14 days in advance,and reasonable notice is given for other Board meetings.The Company Secretary assists the Chairman of the Board to prepare the meeting notice and agenda.Each Director may include any item in the agenda.The agenda,accompanied by mee

231、ting papers with sufficient and reliable information,are sent to each Director not less than 7 days before the date of a Board meeting to enable the Directors to make informed decisions on the matters to be discussed,except where a Board meeting is convened on a very urgent basis to consider any urg

232、ent ad hoc matter.Minutes of Board meetings are recorded in sufficient details regarding the matters considered by the Board at the meeting and decisions reached.Draft minutes of Board meetings are circulated to the Directors for comments and the signed minutes are kept by the Company Secretary and

233、open for inspection to any Director on request.會議董事會每年最少舉行四次定期會議，約每季一次。翌年董事會定期會議之日期將於每年近年底時擬定，以便董事就出席會議作出安排。董事會於有需要時會另行召開會議，以處理突發事項。根據本公司組織章程細則（細則），任何無法親身出席之董事均可透過電子通訊設備，例如會議電話或其他類似通訊設備，參與任何董事會會議。召開每次董事會定期會議之通告會於會議舉行前最少十四天發出，而就其他董事會會議之通告則會於合理時間內發出。公司秘書協助董事會主席擬定會議通告及議程。每位董事均可於議程內加入任何議題。除非董事會會議於緊急情況下召

234、開以考慮任何緊急突發事項，議程連同載有充足且可靠資料之會議文件將於不少於董事會會議舉行日期前七天發送給每位董事，使董事能就須討論之事項作知情決定。董事會之會議記錄詳細記錄會議上所考慮之事項及達成之決議。董事會會議之會議記錄的初稿均會傳閱予董事評註，而已簽署之會議記錄均由公司秘書保存，並開放予任何董事查閱。38Annual Report 2019-2020 年報Corporate GovernanCe report企業管治報告Each Director is expected to give sufficient time and attention to the affairs of the

235、Company.The individual attendance record of each Director at the meetings of the Board and the Boards Committees(the“Board Committee(s)”),comprising the Audit Committee(the“Audit Committee”),the Remuneration Committee(the“Remuneration Committee”)and the Nomination Committee(“Nomination Committee”),a

236、nd at the AGM during the year ended 31 March 2020 are set out below:DirectorsBoardAudit CommitteeRemuneration CommitteeNomination CommitteeChairman and INEDsAGM董事董事會審核委員會薪酬委員會提名委員會主席與獨立非執行董事股東週年大會Executive Directors執行董事Mr.NGAI魏先生5/5N/A不適用N/A不適用5/51/11/1Mr.CHEUNG張先生5/5N/A不適用N/A不適用N/A不適用N/A不適用1/1Mr.IP

237、葉先生5/5N/A不適用N/A不適用N/A不適用N/A不適用1/1Mr.LAU劉先生5/5N/A不適用N/A不適用N/A不適用N/A不適用1/1Mr.YAU游先生5/5N/A不適用4/4N/A不適用N/A不適用1/1Mr.YAM*任先生*4/4N/A不適用N/A不適用N/A不適用N/A不適用1/1INEDs獨立非執行董事Dr.LI李博士5/55/54/45/51/11/1Ms.MAK麥女士5/55/54/45/51/11/1Ms.LEUNG梁女士5/55/54/45/51/11/1*Retired on 20 February 2020Appointment,Re-election and R

238、emoval of DirectorsThe Board is responsible for reviewing the Board composition,developing and formulating the relevant procedures for nomination and appointment of Directors,monitoring the appointment and succession of Directors and assessing the independence of INEDs.The appointment of INEDs adher

239、es to the guidelines for assessing independence as set out in Rule 3.13 of the Listing Rules.The Board,through the Nomination Committee set up in January 2017,reviews from time to time its own structure,size and composition to ensure that it has a balance of appropriate expertise,skills and experien

240、ce for the needs of the businesses of the Group.預期各董事將給予足夠的時間和精力處理本公司事務。每一董事於截至二零二零年三月三十一日止年度於董事會及董事會委員會（董事會委員會，包括審核委員會（審核委員會）、薪酬委員會（薪酬委員會）及提名委員會（提名委員會）的一般會議及股東週年大會的出席情況載列如下：*於二零二零年二月二十日退任委任、重選及罷免董事董事會負責檢討董事會之組成、發展及制定提名及委任董事的相關程序、監督董事之委任及繼任和評估獨立非執行董事的獨立性。獨立非執行董事之委任乃遵守上市規則第3.13條所列有關評估獨立性的指引。通過於二零一七年一

241、月成立的提名委員會，董事會將不時檢討其自身的架構、規模及組成，以確保董事會具有適當及平衡的專業知識、技能和經驗以符合本集團業務之需求。39ABLE ENGINEERING HOLDINGS LIMITED 安保工程控股有限公司Corporate GovernanCe report企業管治報告The Company recognises and embraces the benefits of having a diverse Board to enhance the quality of its performance.The Board adopted a board diversity p

242、olicy(the“Board Diversity Policy”)in January 2017 to set out the approach to achieve diversity of Board members.In 2019,the Board also adopted a director nomination policy(the“Director Nomination Policy”)upon the recommendation of the Nomination Committee which set out the approach and procedures th

243、e Board adopts for the nomination and selection of Directors.A summary of each of the policies is set out in the subsection“Nomination Committee”under the section“BOARD COMMITTEES”in this report.The term of office of each of the Directors has been fixed for a specific term for not more than three ye

244、ars.The Directors are subject to retirement by rotation and re-election at the AGM in accordance with the Articles.In accordance with the Articles,at least one-third of the Directors for the time being(or,if their number is not a multiple of three,then the number nearest to but not less than one-thi

245、rd)shall retire from office by rotation.A retired Director shall be eligible for re-election and reappointment at each annual general meeting provided that each Director shall be subject to retirement by rotation at least once every three years.The election of each candidate is done through a separa

246、te resolution.Any new Director appointed during the year as an addition to the Board or to fill a casual vacancy on the Board shall hold office only until the next coming general meeting of the Company and shall then be subject to re-election at that meeting.In accordance with the Article,Mr.CHEUNG,

247、Mr.IP and Ms.LEUNG shall retire from office at the forthcoming AGM to be held on 4 September 2020(the“2020 AGM”).All the above retiring Directors,being eligible,have offered themselves for re-election to serve for another terms at the 2020 AGM.Details with respect to the candidates standing for elec

248、tion as Directors are set out in the AGM circular to Shareholders.本公司明白並深信董事會成員多元化對提升其表現素質大有裨益。董事會於二零一七年一月採納董事會成員多元化政策（董事會成員多元化政策），文件載列達致董事會成員多元化而採取的方針；於二零一九年，董事會亦在提名委員會的建議下採納 董事提名政策（董事提名政策），文件載列董事會採納以提名及甄選董事的方法及程序。兩份政策的概要已載於本報告內 董事會委員會 一節項下 提名委員會 之分節中。各董事之任期訂明為不多於三年。董事須根據細則於股東週年大會上輪值退任及可膺選連任。根據細則，當

249、時為數至少三分之一的董事（或倘董事人數並非三的倍數，則須為最接近但不少於三分之一的董事人數）須輪席退任。退任的董事有資格於各股東週年大會上重選及連任，惟各董事須最少每三年輪席退任一次。每名候選人的選舉按獨立的決議案逐一表決。於年度內為增加現有董事的名額或填補董事會內某臨時空缺而獲委任的新董事，只任職至下屆股東大會，並有資格於該大會上膺選連任。根據細則，張先生、葉先生及梁女士將於二零二零年九月四日舉行的股東週年大會（二零二零年度股東週年大會）上退任董事。所有上述退任董事均符合資格並願意於即將舉行的二零二零年度股東週年大會上膺選連任。各候選董事的資料載於寄予股東的股東週年大會通函內。40Annua

250、l Report 2019-2020 年報Corporate GovernanCe report企業管治報告CHAIRMAN AND CHIEF EXECUTIVE OFFICERDuring the year ended 31 March 2020,Mr.NGAI served as the Chairman of the Board and Mr.IP or Mr.CHEUNG served as the Chief Executive Officer(“CEO”)of the Company.This segregation ensures a clear division of the

251、 Chairmans responsibilities for the management of the Board and the CEOs responsibilities for the day-to-day management of the Companys business.The Chairman is responsible for providing leadership for the Board,and ensuring that all Directors are properly briefed on issues arising at Board meetings

252、 and that the Directors receive adequate,complete and reliable information in a timely manner.The Chairman has an additional or casting vote in the event of an equality of votes on any matter to be decided by the Board.The CEO is appointed by the Board and is responsible for providing leadership for

253、 the management,implementing and reporting to the Board on the Groups strategy,overseeing the day-to-day operations of the Group and providing all such information to the Board as is necessary to enable the Board to monitor the performance of the management.According to the then enacted code provisi

254、on A.2.7 of the CG Code,the Chairman met with the INEDs of the Company for once without the presence of the management and the other Executive Directors on 27 November 2019.主席及行政總裁於截至二零二零年三月三十一日止年度，魏先生擔任董事會主席而本公司行政總裁（行政總裁）由葉先生或張先生擔任。主席及行政總裁分開委任之安排確保主席負責管理董事會而行政總裁負責本公司業務的日常管理的清晰區分。主席負責領導董事會，並確保董事會會議上

255、所有董事均適當知悉當前的事項，且董事均及時收到充分、完備而可靠的資訊。由董事會決定的任何事項，如票數均等，主席有權投額外一票或決定票。行政總裁由董事會委任，負責領導管理層、實行本集團策略及就此向董事會匯報、監督本集團的日常運作，並於有需要時向董事會提供一切有關資料，讓董事會能監督管理層的表現。根據於其時適用的企業管治守則的守則條文第A.2.7條，在本公司的管理層及其他執行董事不在場的情況下，主席與本公司的獨立非執行董事於二零一九年十一月二十七日進行了一次會面。41ABLE ENGINEERING HOLDINGS LIMITED 安保工程控股有限公司Corporate GovernanCe r

256、eport企業管治報告BOARD COMMITTEESThe Board has set up three Board Committees,namely,the Audit Committee,the Remuneration Committee and the Nomination Committee,to oversee particular aspects of the Companys affairs.Audit CommitteeThe Companys Audit Committee was established on 18 January 2017 with specific

257、 written terms of reference stipulating its authorities and duties,which are available on the websites of the Company and The Stock Exchange.As at 31 March 2020,the Audit Committee comprised three INEDs,namely Dr.LI,Ms.MAK and Ms.LEUNG.Ms.LEUNG is currently the chairman of the Audit Committee.Ms.LEU

258、NG possesses the appropriate accounting qualifications and experiences in financial matters.The main responsibilities of the Audit Committee are to review the consolidated financial statements and the auditors report,and to monitor the integrity of the consolidated financial statements.It also assis

259、ts the Board to oversee risk management and internal control systems and internal and external audit functions.董事會委員會董事會已成立三個董事會委員會，即審核委員會、薪酬委員會及提名委員會，以監督本公司不同範疇的事務。審核委員會本公司之審核委員會於二零一七年一月十八日成立，有關訂明其權限及職能之明確書面職權範圍，可於本公司及聯交所網站上查閱。於二零二零年三月三十一日，審核委員會由三名獨立非執行董事組成，即李博士、麥女士及梁女士。梁女士現為審核委員會主席。梁女士具有合適的會計資格及財務

260、事宜經驗。審核委員會之主要職責為審閱綜合財務報表及核數師報告、監察綜合財務報表之完整性，同時協助董事會監督風險管理及內部監控系統以及內外部審核職能。42Annual Report 2019-2020 年報Corporate GovernanCe report企業管治報告The Audit Committee holds regular meetings at least twice a year and they also meet with the Companys external auditor at least twice a year to discuss the audit pla

261、n and to review the Companys reports and accounts.During the year ended 31 March 2020,the Audit Committee held five meetings and the primarily works performed by the Audit Committee were,among others:reviewedtheunauditedaccounts,interimreportandinterim results announcement of the Company and the Gro

262、up;reviewedtheauditedaccountsandfinalresultsannouncement of the Company and the Group;reviewedtheaccountingpoliciesandpracticesadoptedbythe Company and the Group;reviewedandrecommendtheappointment,reappointmentand removal of external auditor;approvedthescopeandplanofinternalandexternalaudit;reviewed

263、theengagement,services(includingnon-auditservices)provided and remuneration of the external auditor and its independence;reviewedtheresultsandeffectivenessoftheinternalandexternal audit function;reviewedandmonitoredtheadequacyandeffectivenessofthe financial reporting function,risk management system

264、and internal control system of the Group;reviewedthecontinuingconnectedtransactions;reviewedthe“PolicyforNon-auditServicesprovidedby the Groups External Auditor and its Associates”and monitored the policys implementation;andreviewedthetermsofreferenceoftheAuditCommittee.It is confirmed that there is

265、 no disagreement between the Board and the Audit Committees view on re-appointment of external auditor,and they both have agreed to recommend the re-appointment of Ernst&Young as the Companys external auditor for the ensuing year at the 2020 AGM of the Company.審核委員會與本公司外聘核數師每年舉行最少兩次會議，以相討有關審計計劃及審閱本公

266、司的報告及賬目。於截至二零二零年三月三十一日止年度內，審核委員會舉行了五次會議，其主要之工作概要如下：審閱本公司及本集團之未經審核財務賬目、中期報告及中期業績公告；審閱本公司及本集團之經審核財務賬目及全年業績公告；審閱本公司及本集團應用之會計政策和慣例；審閱及推薦外聘核數師的委任、重聘及罷免；審批討內外部審核範圍及計劃；評核外聘核數師之工作（包括非審核服務）、酬金及彼等之獨立性；評核內外部審核工作的結果及成效；評核本集團之財務報告系統、風險管理系統及內部監控系統是否足夠及有效；評核持續關聯交易；檢討 本集團外聘核數師及其聯系人提供非審核服務的政策 並監察其執行；及檢討審核委員會之職權範圍。董事

267、會及審核委員會確認彼等就重新委任外聘核數師上並無分歧，而彼等均已同意於本公司即將舉行之二零二零年度股東週年大會上，建議重新委任安永會計師事務所為本公司來年之外聘核數師。43ABLE ENGINEERING HOLDINGS LIMITED 安保工程控股有限公司Corporate GovernanCe report企業管治報告Remuneration CommitteeThe Companys Remuneration Committee was established on 18 January 2017 with specific written terms of reference sti

268、pulating its authorities and duties,which are available on the websites of the Company and The Stock Exchange,and consists of a majority of INEDs.The purpose of the Remuneration Committee is to set policy on Executive Directors and senior management remuneration and for fixing remuneration packages

269、for all Directors and senior management.As at 31 March 2020,the Remuneration Committee is made up of the three INEDs,namely Dr.LI,Ms.MAK,Ms.LEUNG,and one Executive Director,namely Mr.YAU.Dr.LI is the chairman of the Remuneration Committee.The main responsibility of the Remuneration Committee is to m

270、ake recommendations to the Board on the remuneration policy and structuring for Directors and senior management and their remuneration package with reference to the Groups corporate goals and strategies.The Remuneration Committee meets at least once a year.During the year ended 31 March 2020,the Rem

271、uneration Committee held four meetings and the major works performed by the Remuneration Committee were,among others:approvedthecontract/letterofappointmentsenteredintobetween the Company and individual Director(s);reviewedandmaderecommendationstotheBoardonthepolicy and structure for remuneration of

272、 the Directors and senior management;reviewedandmaderecommendationstotheBoardon the remuneration package,including discretionary performance-based bonus,of individual Director and senior management;andreviewedthetermsofreferenceoftheRemunerationCommittee.薪酬委員會本公司薪酬委員會於二零一七年一月十八日成立，有關訂明其權限及職能之明確書面職權範

273、圍，可於本公司及聯交所網站上查閱，其大部份成員為獨立非執行董事。成立薪酬委員會的目的乃制定執行董事及高級管理層的薪酬政策及釐定所有董事及高級管理層的薪酬待遇。於二零二零年三月三十一日，薪酬委員會由三位獨立非執行董事，即李博士、麥女士及梁女士，以及一位執行董事（即游先生）組成。李博士為薪酬委員會主席。薪酬委員會之主要職責包括參照本集團的企業目標和策略，向董事會提供有關董事和高級管理層的薪酬政策和結構，個人的薪酬待遇等建議。薪酬委員會每年舉行最少一次會議。於截至二零二零年三月三十一日止年度內，薪酬委員會舉行了四次會議，其主要之工作概要如下：審批本公司與每一名董事所訂立的合約委任函；審閱及就董事及高

274、級管理層的薪酬政策及結構向董事會提供建議；審閱及就個別董事及高級管理層的薪金（包括與表現相關之酌情花紅）向董事會提供建議；及檢討薪酬委員會之職權範圍。44Annual Report 2019-2020 年報Corporate GovernanCe report企業管治報告The Executive Directors and certain senior management of the Company may entitle to discretionary performance related bonus payments which are determined by the Boa

275、rd with reference to the recommendation of the Remuneration Committee,after accounting for the Groups operating results and their respective individual performance.No Director was involved in the determination about his own remuneration.Particulars of the remuneration payable to each Director for th

276、e year ended 31 March 2020 are set out in note 9 to the financial statements of this annual report.Pursuant to code provision B.1.5 of the CG Code,the remuneration of the senior management(excluding the Directors)by band for the year ended 31 March 2020 was set out below:Number of individualsWithin

277、the band of組別介乎於人數Nil to HK$1,500,000零港元至1,500,000港元2HK$1,500,001 to HK$3,000,0001,500,001港元至3,000,000港元1HK$3,000,001 to HK$4,500,0003,000,001港元至4,500,000港元2Nomination CommitteeThe Companys Nomination Committee has been established on 18 January 2017 with specific written terms of reference stipulat

278、ing its authorities and duties,which are available on the websites of the Company and The Stock Exchange,and consists of a majority of INEDs.As at 31 March 2020,the Nomination Committee is made up of the three INEDs,namely Dr.LI,Ms.MAK,Ms.LEUNG,and one Executive Director,namely Mr.NGAI.Mr.NGAI is th

279、e chairman of the Nomination Committee.本公司之執行董事及若干高級管理層有權享有與表現相關之酌情花紅，而花紅乃參考本集團經營業績及彼等之個別表現後釐定。概無董事就彼之酬金作出決定。有關截至二零二零年三月三十一日止年度應支付各董事之薪酬詳情，已載於本年度報告內之財務報表附註9。根據企業管治守則的守則條文第B.1.5條，以下列出高級管理層（不包括董事）於截至二零二零年三月三十一日止年度的薪酬組別：提名委員會本公司提名委員會於二零一七年一月十八日成立，有關訂明其權限及職能之明確書面職權範圍，可於本公司及聯交所網站上查閱，其大部份成員為獨立非執行董事。於二零二零年

280、三月三十一日，提名委員會由三位獨立非執行董事，即李博士、麥女士及梁女士，以及一位執行董事（即魏先生）組成。魏先生為提名委員會主席。45ABLE ENGINEERING HOLDINGS LIMITED 安保工程控股有限公司Corporate GovernanCe report企業管治報告The major duties of the Nomination Committee include reviewing the structure,size and diversity of the Board at least annually and making recommendations on

281、 any proposed changes to the Board;identifying individuals suitably and qualified to become Directors;and making recommendations to the Board on the selection of individuals nominated for directorships.The Nomination Committee meets at least once a year.During the year ended 31 March 2020,the Nomina

282、tion Committee held five meetings.The major works performed by the Nomination Committee were,among others:reviewedthestructure,sizeandcomposition(includingthe skills,knowledge and experience)of the Board and made recommendations to the Board on the appointment or re-appointment of Directors and succ

283、ession planning for Directors;setupwritten“DirectorNominationPolicy”;identifyingindividualssuitablyqualifiedtobecomemembers of the Board and putting forward nominations or recommendations to the Board for proposed appointments to the Board;assessedtheindependenceofINEDs;reviewedtimecommitmentofDirec

284、torsforperformanceoftheir responsibilities;reviewedandmonitoredthetrainingandcontinuousprofessional development of Directors;reviewedthe“DirectorNominationPolicy”and“Board Diversity Policy”and monitored the policies implementation;andreviewedthetermsofreferenceoftheNominationCommittee.Director Nomin

285、ation PolicyThe“Director Nomination Policy”sets out the approach and procedures adopted for the nomination and selection of directors,including the appointment of additional Directors,replacement of Directors,and re-election of Directors to ensure that proper approach and procedures of the selection

286、 and nomination of Directors are in place.The“Director Nomination Policy”shall be reviewed by the Nomination Committee,as appropriate and at least annually,to ensure its effectiveness.提名委員會之主要職責包括最少每年檢討董事會之架構、規模及成員多元化，並對董事會擬作出之變動，物色及挑選具備合適資格可擔任董事的人士，並向董事會提名有關人士出任董事，或就此向董事會提供意見。提名委員會每年舉行最少一次會議。於截至二零二

287、零年三月三十一日止年度內，提名委員會舉行了五次會議，其主要之工作概要如下：檢討董事會的架構、規模及組成（包括技能、知識及經驗方面），就董事的委任、重選及董事之繼任計劃，向董事會提出建議；制定書面 董事提名政策；物色具備合適資格的人士擔任董事會成員，並就此向董事會作出建議；評核獨立非執行董事之獨立性；評核董事對履行彼等職責所貢獻的時間；評核及監察董事之培訓及持續專業發展；檢討 董事提名政策 和 董事會成員多元化政策 及監察其執行；及檢討提名委員會之職權範圍。董事提名政策董事提名政策 載列提名及甄選董事（包括委任額外董事、替補董事及重選董事）之方法及程序以確保設有適當的董事甄選及提名程序。董事提名

288、政策 須由提名委員會（於適當時而最少每年）進行檢討，以確保其有效。46Annual Report 2019-2020 年報Corporate GovernanCe report企業管治報告Selection CriteriaWhen the need to select,nominate or re-elect Directors arises,the Nomination Committee shall,as it considers appropriate,consider a variety of factors in making nominations,including but n

289、ot limited to the following in assessing the suitability of the proposed candidate:reputationforintegrity;theskills,knowledge,experienceandprofessionalexpertise which are relevant to the operations of the Group;commitmentinrespectofsufficienttime,interestandattention and participate in induction on

290、appointment,continuous professional development and other Board associated activities;abilitytoexercisesoundbusinessjudgementandpossessexperience in senior management;contributetotheBoardsdiversitywithdueregardtothe diversity perspectives set out in the“Board Diversity Policy”of the Company;andcompl

291、iancewiththecriteriaofindependenceasprescribedunder Rule 3.13 of the Listing Rules for the consideration of appointment of an independent non-executive Director.甄選準則如有需要甄選、提名或重選董事，提名委員會將在其認為適當的情況下，於提名準候選人時考慮多項因素，包括但不限於下列各項：誠信；與本集團營運相關的技能、知識、經驗及專業知識；承諾對本集團的業務投入足夠的時間、興趣和關注，並參與就任須知、持續專業發展及其他董事會相關的活動；具備

292、作出正確業務判斷的能力，並擁有擔任高級管理層的經驗；對董事多元化的影響，需考慮到本公司 董事會成員多元化政策 中所訂明的多元化觀點；及在考慮委任獨立非執行董事時，符合載列於上市規則第3.13條所規定的獨立性準則。47ABLE ENGINEERING HOLDINGS LIMITED 安保工程控股有限公司Corporate GovernanCe report企業管治報告Nomination ProceduresForappointmentofnewandreplacementDirectors:(i)if the Board or the Nomination Committee conside

293、rs that an additional or replacement Director is required,the Nomination Committee will deploy multiple channels for identifying suitable candidates,including but not limited to referral from Directors,Shareholders,management,advisors of the Company and external executive search firms;(ii)assess the

294、 proposed candidates based on the selection criteria and such other factors that the Nomination Committee considers appropriate;and(iii)compilation shortlist of suitable candidates and make recommendation to the Board by the Nomination Committee for the Boards consideration.The Board has the authori

295、ty on determining suitable director candidate for appointment.Forre-electionofDirectorsandnominationfromShareholders:(i)where a retiring Director,being eligible,offers himself/herself for re-election,the Nomination Committee shall consider and,if consider appropriate,recommend to the Board such reti

296、ring Director to stand for re-election at a general meeting;(ii)if considers appropriate,the Board shall recommend to the Shareholders such retiring Director to stand for re-election at the forthcoming general meeting.A circular containing the requisite information on such retiring Director will be

297、sent to shareholders prior to that general meeting in accordance with the Listing Rules;and(iii)any Shareholder who wishes to nominate a person to stand for election as a Director at a general meeting,should refer to the“Procedures for Shareholders to Propose a Person for Election as a Director”,whi

298、ch is available on the Companys website,for procedures for Shareholders nomination of any proposed candidate for election as a director of the Company.提名程序委任新任及替補董事：(i)如董事會或提名委員會認為需要委任額外或替補董事，提名委員會將循多個渠道物色適合的候選人，包括但不限於董事、股東、管理層、本公司顧問及外部獵頭公司的推薦；(ii)根據甄選準則及提名委員會認為適合的其他因素評核準候選人；及(iii)提名委員會編撰合適之候選人名單及提供

299、建議以供董事會考慮。董事會擁有決定合適董事人選以作出委任的權力。重選董事及股東提名：(i)如退任董事符合資格並願膺選連任，提名委員會應考慮並（如認為適當）建議董事會考慮該名退任董事在股東大會上重選連任；(ii)董事會應考慮並（如認為適當）向股東推薦該名退任董事在即屆股東大會上重選連任。載有該名退任董事必需資料的通函將根據上市規則於股東大會舉行前寄發予股東；及(iii)如本公司任何股東擬提名一名人士在股東大會上參選董事，應參閱登載於本公司網站的 股東提名候選人參選董事的程序，以了解股東提名任何候選人參選為本公司董事的程序。48Annual Report 2019-2020 年報Corporate

300、 GovernanCe report企業管治報告Inthecontextofappointmentofanyproposedcandidateto the Board,the Nomination Committee shall undertake adequate due diligence in respect of such individual and make recommendations for the Boards consideration and approval.Board Diversity PolicyThe“Board Diversity Policy”sets o

301、ut the approach to achieve diversity of the Board.It is believed that a truly diverse board will include and make good use of differences in a number of factors,including but without limitation,gender,age,cultural,skills,background,experience,knowledge,expertise and other qualities of members of the

302、 Board.These differences will be taken into account in determining the optimum composition of the Board.All appointments of Directors will be based on merit and the Nomination Committee will review the Board composition by considering the benefits of all aspects of diversity.The“Board Diversity Poli

303、cy”shall be reviewed by the Nomination Committee,as appropriate and at least annually,to ensure its effectiveness.During the year ended 31 March 2020,the Nomination Committee reviewed the current Boards structure,size and diversity and composition of the members of the Board and concluded that the B

304、oard had a balance of skills,experience and diversity of perspective which appropriate to the requirements of the Groups current business.就委任任何董事會候選人而言，提名委員會須就個別候選人進行充分的盡職審查並作出建議，以供董事會考慮及審批。董事會成員多元化政策董事會成員多元化政策 載列實現董事會成員多元化之方式。本公司認為，一個真正成員多元化之董事會將融入及善用董事會成員之不同特質，包括但不限於性別、年齡、文化、技能、背景、經驗、知識、專長及其他質素。該等

305、差異將在釐定董事會之最佳組合時納入考量。所有董事的任命均以用人唯才為原則，而提名委員會將透過考慮多元化之所有益處檢討董事會之組成。董事會成員多元化政策 須由提名委員會（於適當時而最少每年）進行檢討，以確保其有效。於截至二零二零年三月三十一日止年度，提名委員會已檢討現任董事會的結構，規模及和董事會成員的組成和多元化，並總結認為，董事會在技能、經驗、觀點多元化之間取得平衡，並適合本集團當前的業務要求。49ABLE ENGINEERING HOLDINGS LIMITED 安保工程控股有限公司Corporate GovernanCe report企業管治報告An analysis of the Bo

306、ards current composition,as classified into different aspects,is set out below:Aspects類別Gender性別Female女(2)Designation職位Executive執行(5)Independent Non-executive獨立非執行(3)Age group年齡層45(1)Secondary or below中學或以下(1)Undergraduate大學本科大專(3)Postgraduate大學本科以上(4)55-64(1)65-74(2)4554(4)Educational background學歷S

307、kills/industry experience技能行業經驗Construction,property&administration建築、物業及行政(2)Management&administration管理及行政(1)Education教育(1)Engineering&education土木工程及教育(1)Construction&engineering建築及土木工程(2)Account&finance會計及財務(1)No.of directorship with other listed companies in the past 3 years過去三年內擔任其他上市公司董事之公司數目0

308、(8)Board Compositionn董事會的組成Male男(6)()Number of respective Directors董事會現時的組成（按不同類別）分析如下()相關董事數目50Annual Report 2019-2020 年報Corporate GovernanCe report企業管治報告DIRECTORS CONTINUOUS PROFESSIONAL DEVELOPMENT AND INDUCTIONEvery Director keeps abreast of responsibilities as a Director of the Company and of t

309、he conduct,business activities and development of the Group.The Company provides all members of the Board with monthly updates on the Groups development.According to the code provision A.6.5 of the CG Code,all Directors should participate in continuous professional development to develop and refresh

310、 their knowledge and skills to ensure that their contribution to the Board remains informed and relevant.The Company continues its effort in providing updates on the changes in the relevant regulatory requirements applicable to the Group from time to time and recommending relevant seminars/conferenc

311、es/forums to the Directors as and when appropriate.董事持續專業發展及就任須知每位董事均了解作為本公司董事的責任，掌握本集團的經營、業務活動及動向。本公司每月向董事會所有成員匯報本集團的最新發展。根據企業管治守則的守則條文第A.6.5條規定，所有董事須參與持續專業發展，以拓展及更新其知識和技能，從而確保其在具備全面資訊及切合所需的情況下對董事會作出貢獻。本公司持續向董事不時提供適用於本集團的相關監管規定變更的資訊，並適時向彼等推薦相關研討會會議論壇。51ABLE ENGINEERING HOLDINGS LIMITED 安保工程控股有限公司Co

312、rporate GovernanCe report企業管治報告The Directors acknowledge the need for continuous professional development and confirmed that they had complied with the code provision A.6.5 of the CG Code during the year.All Directors are required to provide the Company with the records of the training they received

313、 annually.According to the records maintained by the Company,all Directors pursued continuous professional development during the year ended 31 March 2020 and relevant details are set out below:Directors董事Types of Training培訓類別(Note)（附註）Mr.NGAI Chun Hung魏振雄先生A&BA 與 BMr.CHEUNG Ho Yuen張浩源先生A&BA 與 BMr.I

314、P Yik Nam葉亦楠先生A&BA 與 BMr.LAU Chi Fai,Daniel劉志輝先生A&BA 與 BMr.YAU Kwok Fai游國輝先生A&BA 與 BMr.YAM Kui Hung*任鉅鴻先生*A&BA 與 BDr.LI Yok Sheung李毓湘博士A&BA 與 BMs.MAK Suk Hing麥淑卿女士A&BA 與 BMs.LEUNG Yuen Shan,Maisy梁婉珊女士A&BA 與 B*retired on 20 February 2020Note:A Participated in seminars(included webinars)/conferences/f

315、orumsB Read journals/updates/articlesAll Directors had received a comprehensive,formal and tailored induction package covering,among others,the Groups business and the statutory and regulatory obligations of a director of a listed company before their appointment to ensure that they have a proper un

316、derstanding of the Groups operations and business and is fully aware of their responsibilities under statute and common law,the Listing Rules,legal and other regulatory requirements and the Groups business and governance policies.董事知悉持續專業發展的需要，而彼等已確認其於年內已遵守企業管治守則的守則條文第A.6.5條。所有董事每年均須向本公司提供其培訓紀錄予本公司保

317、存。根據本公司之紀錄，所有董事於截至二零二零年三月三十一日止年度內皆有參與持續專業發展，相關資料如下：*於二零二零年二月二十日退任附註：A參與研討會（包括網絡研討會）會議論壇B研讀期刊更新文章所有董事於其獲委任前均獲提供一份全面、正式且適用的就任須知，內容涵蓋（其中包括）本集團業務及上市公司董事的法定及監管責任，以確保彼等充分了解本集團的營運及業務，以及完全知悉其本身在法規及普通法、上市規則、法律及其他監管規定以及本集團的業務及管治政策下的責任。52Annual Report 2019-2020 年報Corporate GovernanCe report企業管治報告DIVIDEND POLIC

318、YTo enhance transparency of the Company in the recommendation and declaration of dividend,the Board has adopted a written“Dividend Policy”which sets out the factors of determining the recommendation and declaration of dividend since 18 March 2019.Under the“Dividend Policy”,the Board may consider dec

319、laring and paying dividends to the Shareholders out of the Companys distributable reserves.Such declaration and payment of dividends shall remain to be determined at the sole discretion of the Board,subject to the requirements of all applicable laws and the Articles.Pursuant to the“Dividend Policy”,

320、the Board shall strike a balance between providing immediate return to the Shareholders through the payment of dividends whilst retaining adequate reserves as the Groups working capital and for the Groups future growth.In deciding whether to propose or declare a dividend and in determining the divid

321、end amount and means of payment,the Board shall take into account,among others:theactualandexpectedfinancialperformanceoftheGroup;theGroupsliquidityposition;thecapitalanddebtleveloftheGroup;retainedearningsanddistributablereservesoftheCompany and major subsidiaries of the Group;andtheworkingcapitalr

322、equirements,capitalexpenditurerequirements and future development plans of the Group.The Board will from time to time review the Dividend Policy and may exercise at its absolute and sole discretion to update,amend and/or modify the Dividend Policy at any time as the Board deems fit and necessary.股息政

323、策為提升本公司於建議及宣派股息之透明度，董事會已於二零一九年三月十八日採納一項書面 股息政策，其載列決定建議或宣派股息的考慮因素。根據該 股息政策，董事會可考慮自本公司的可供分派儲備向股東宣派及派付股息。該等股息的分派及支付應由董事會全權酌情決定，惟必須遵守所有適用法規及細則。根據 股息政策，董事會將盡力在透過分派股息為股東提供即時回報與保留足夠儲備作為本集團的營運資金及作本集團未來增長之間取得平衡。於決定是否建議或宣派股息及釐定股息金額及分派方式時，董事會應考慮（其中包括）：本集團的實際及預期財務表現；本集團的流動資金狀況；本集團的資本及負債水平；本公司及本集團主要附屬公司的保留溢利及可供分

324、派儲備；及本集團的營運資金需求、資本開支需求及未來發展計劃。董事會將不時檢討該股息政策，並在其認為合適及必要時可隨時全權酌情更新、修訂及或更改該股息政策。53ABLE ENGINEERING HOLDINGS LIMITED 安保工程控股有限公司Corporate GovernanCe report企業管治報告SECURITIES TRANSACTIONS OF DIRECTORS AND EMPLOYEESThe Company has adopted the“Model Code for Securities Transactions by Directors of Listed Issu

325、ers”(the“Model Code”)as set out in Appendix 10 of the Listing Rules as the code of conduct regarding the Directors securities transactions.Following specific enquiry made by the Company,all Directors have confirmed that they had complied with the required standard set out in the Model Code throughou

326、t the year ended 31 March 2020.Full details of the Directors interests in the Shares of the Company and its associated corporation are set out in the“REPORT OF THE DIRECTORS”on pages 62 to 79 of this annual report.The Company has also established written code on no less exacting terms than the Model

327、 Code for dealings in the securities of the Company and its associated corporations by relevant employees who are likely to be in possession of unpublished inside information in relation to the Company or any of its associated corporations.During the year ended 31 March 2020,the Company sent notific

328、ations to the Directors and employees reminding them of the“black-out period(s)”as specified in the relevant codes and the relevant period that the Directors and relevant employees during which they are not allowed to deal in the securities of the Company and its associated corporations at the relev

329、ant times.All Directors and employees are also bound by corporate policies of the Company to refrain from dealing in the Companys and its associated corporations securities if they are in possession of any inside information of the Group or any of its associated corporations.董事及僱員進行證券交易本公司已採納上市規則附錄十

330、所載之 上市公司董事進行證券交易的標準守則（標準守則），作為董事進行證券交易的操守準則。經本公司作出特定查詢後，所有董事均確認彼等於截至二零二零年三月三十一日止年度內一直遵守標準守則所載的規定。有關董事於本公司及其相聯法團之股份中權益的全部詳情載於本年度報告第62頁至第79頁之 董事會報告 內。本公司亦已就可能擁有關於本公司或其相聯法團的未公佈之內幕消息的有關僱員在進行本公司或其任何相聯法團之證券交易事宜設立書面守則，而該守則並不比標準守則寬鬆。於截至二零二零年三月三十一日止年度內，本公司已向董事和僱員發出通知，提醒他們有關標準守則內列明的 禁止買賣期 及董事和相關僱員於相關時期不得買賣本公司

331、及其相聯法團的證券。所有董事及所有僱員均受本公司的公司政策約束，當彼等得悉本集團或其任何相聯法團的任何內幕消息，則不得買賣本公司及其任何相聯法團的證券。54Annual Report 2019-2020 年報Corporate GovernanCe report企業管治報告AUDITOR S REMUNERATIONErnst&Young was re-appointed by the Shareholders of the Company at the AGM held on 28 August 2019 as the Companys external auditor until the

332、conclusion of the forthcoming AGM.During the year,the Company also awarded non-audit services works to Ernst&Young and its associates.Through the Audit Committee,the Board monitors the non-audit services performed by its external auditor and its associates to the Group to ensure that the independenc

333、e and objectivity of the external auditor would not be impaired.Pursuant to the“Policy for Non-audit Services provided by the Groups External Auditor and its Associates”,all proposed non-audit services of the external auditor or its associates would be reviewed by the Audit Committee before the respective engagement.During the year ended 31 March 2020,the Audit Committee reviewed the nature of non