Perfect Optronics Limited — Annual Report 2025

Apr 29, 2026

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Perfect Optronics Limited 圓 美 光 電 有 限 公 司

(Incorporated in the Cayman Islands with limited liability) （於開曼群島註冊成立之有限公司） Stock Code 股份代號 : 8311

年 2025 報 Annual Report

CHARACTERISTICS OF GEM (“GEM”) OF THE STOCK EXCHANGE OF HONG KONG LIMITED (THE “STOCK EXCHANGE”)

GEM has been positioned as a market designed to accommodate small and mid-sized companies to which a higher investment risk may be attached than other companies listed on the Stock Exchange. Prospective investors should be aware of the potential risks of investing in such companies and should make the decision to invest only after due and careful consideration.

Given that the companies listed on GEM are generally small and mid-sized companies, there is a risk that securities traded on GEM may be more susceptible to high market volatility than securities traded on the Main Board of the Stock Exchange and no assurance is given that there will be a liquid market in the securities traded on GEM.

Hong Kong Exchanges and Clearing Limited and the Stock Exchange take no responsibility for the contents of this report, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this report.

This report, for which the directors (the “Directors”) of Perfect Optronics Limited (the “Company”) collectively and individually accept full responsibility, includes particulars given in compliance with the Rules Governing the Listing of Securities on GEM of The Stock Exchange of Hong Kong Limited (the “GEM Listing Rules”) for the purpose of giving information with regard to the Company. The Directors, having made all reasonable enquiries, confirm that to the best of their knowledge and belief the information contained in this report is accurate and complete in all material respects and not misleading or deceptive, and there are no other matters the omission of which would make any statement herein or this report misleading.

香港聯合交易所有限公司（「聯交所」） GEM （「 GEM 」）的特色

GEM 的定位，乃為中小型公司提供一個上市的市場，此等公司相比起其他在聯交所主板上市的 公司帶有較高投資風險。有意投資的人士應了解投資於該等公司的潛在風險，並應經過審慎周 詳的考慮後方作出投資決定。

由於 GEM 上市公司普遍為中小型公司，在 GEM 買賣的證券可能會較於聯交所主板買賣之證券承 受較大的市場波動風險，同時無法保證在 GEM 買賣的證券會有高流通量的市場。

香港交易及結算所有限公司及聯交所對本報告之內容概不負責，對其準確性或完整性亦不發表 任何聲明，並明確表示概不就因本報告全部或任何部分內容而產生或因倚賴該等內容而引致之 任何損失承擔任何責任。

本報告的資料乃遵照《香港聯合交易所有限公司的 GEM 證券上巿規則》（「 GEM 上市規則」）而刊 載，旨在提供有關圓美光電有限公司（「本公司」）的資料；本公司董事（「董事」）願就本報告的資 料共同及個別地承擔全部責任。各董事在作出一切合理查詢後，確認就其所知及所信，本報告 所載資料在各重要方面均屬準確完備，沒有誤導或欺詐成分，且並無遺漏任何事項，足以令致 本報告或其所載任何陳述產生誤導。

Contents 目錄

• Corporate Information

• 3 公司資料 Chairman’s Statement

• 5 主席報告 Management Discussion and Analysis

• 9 管理層討論及分析 Corporate Governance Report

• 19 企業管治報告 Environmental, Social and Governance Report

• 39 環境、社會及管治報告 Biographical Details of Directors and Senior Management

• 77 董事及高級管理層個人資料 Report of the Directors

• 80 董事會報告 Independent Auditor’s Report

• 92 獨立核數師報告 Consolidated Statement of Comprehensive Income

• 99 綜合全面收益表 Consolidated Statement of Financial Position

• 101 綜合財務狀況表 Consolidated Statement of Changes in Equity

• 103 綜合權益變動表 Consolidated Statement of Cash Flows

• 105 綜合現金流量表 Notes to the Consolidated Financial Statements

• 106 綜合財務報表附註 Financial Summary

• 176 財務摘要

Corporate Information 公司資料

BOARD OF DIRECTORS

Executive Directors

Mr. Cheng Wai Tak (suspended) Mr. Liu Ka Wing (suspended) Mr. Tse Ka Wing (suspended) Mr. Chang Huan Chia

Independent non-executive Directors

Mr. Kan Man Wai (Acting Chairman) Ms. Hsu Wai Man Helen Mr. Lau Ngai Kee Ricky

BOARD COMMITTEES

Audit Committee

Ms. Hsu Wai Man Helen (Chairperson) Mr. Kan Man Wai Mr. Lau Ngai Kee Ricky

Remuneration Committee

Mr. Kan Man Wai (Chairman) Ms. Hsu Wai Man Helen Mr. Lau Ngai Kee Ricky

Nomination Committee

Mr. Lau Ngai Kee Ricky (Chairman) Mr. Kan Man Wai Ms. Hsu Wai Man Helen

COMPANY SECRETARY

Mr. Tse Ka Wing

COMPLIANCE OFFICER

Mr. Chang Huan Chia

AUTHORISED REPRESENTATIVES

Mr. Tse Ka Wing Mr. Chang Huan Chia

董事會

執行董事

鄭偉德先生（已暫停職務） 廖嘉榮先生（已暫停職務） 謝家榮先生（已暫停職務） 張桓嘉先生

獨立非執行董事

簡文偉先生（代理主席） 徐慧敏女士 劉毅基先生

董事會委員會

審核委員會 徐慧敏女士（主席） 簡文偉先生 劉毅基先生

薪酬委員會 簡文偉先生（主席） 徐慧敏女士 劉毅基先生

提名委員會

劉毅基先生（主席） 簡文偉先生 徐慧敏女士

公司秘書 謝家榮先生

監察主任 張桓嘉先生

授權代表

謝家榮先生 張桓嘉先生

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圓美光電有限公司 2025 年報

Corporate Information 公司資料

AUDITOR

PricewaterhouseCoopers Certified Public Accountants Registered Public Interest Entity Auditor 22/F, Prince’s Building Central Hong Kong

REGISTERED OFFICE

Windward 3, Regatta Office Park PO Box 1350 Grand Cayman KY1-1108 Cayman Islands

HEADQUARTERS AND PRINCIPAL PLACE

核數師

羅兵咸永道會計師事務所 執業會計師 註冊公眾利益實體核數師 香港 中環 太子大廈22樓

註冊辦事處

Windward 3, Regatta Office Park PO Box 1350 Grand Cayman KY1-1108 Cayman Islands

總部及香港主要營業地點

OF BUSINESS IN HONG KONG

Flat 903, 9/F New Lee Wah Centre No. 88 Tokwawan Road Tokwawan, Kowloon Hong Kong

PRINCIPAL SHARE REGISTRAR AND

香港

九龍土瓜灣 土瓜灣道88號 新利華中心 9樓903室

股份過戶登記總處

TRANSFER OFFICE

Ocorian Trust (Cayman) Limited Windward 3, Regatta Office Park PO Box 1350 Grand Cayman KY1-1108 Cayman Islands

HONG KONG BRANCH SHARE

Ocorian Trust (Cayman) Limited Windward 3, Regatta Office Park PO Box 1350 Grand Cayman KY1-1108 Cayman Islands

香港股份過戶登記分處

REGISTRAR AND TRANSFER OFFICE

Tricor Investor Services Limited 17/F, Far East Finance Centre 16 Harcourt Road Hong Kong

PRINCIPAL BANKERS

Bank of China (Hong Kong) Limited The Hongkong and Shanghai Banking Corporation Limited

STOCK CODE

8311

COMPANY WEBSITE

www.perfect-optronics.com

卓佳證券登記有限公司 香港 夏愨道16號 遠東金融中心17樓

主要往來銀行

中國銀行（香港）有限公司 香港上海滙豐銀行有限公司

股份代號

8311

公司網站

www.perfect-optronics.com

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Perfect Optronics Limited Annual Report 2025

Chairman’s Statement 主席報告

On behalf of the Board of Directors (the “Board”), I present the annual results of Perfect Optronics Limited (the “Company”) and its subsidiaries (collectively, the “Group”) for the year ended 31 December 2025 (the “Year”) to all of its shareholders.

本人謹此代表董事會（「董事會」）向各股東提呈 圓美光電有限公司（「本公司」）及其附屬公司（統 稱「本集團」）截至二零二五年十二月三十一日止 年度（「本年度」）的全年業績。

BUSINESS REVIEW

業務回顧

The Group is principally engaged in the trading, development and sales of display and optics products and related electronic components, as well as the trading of health-related and other products.

本集團主要從事顯示及光學產品及其他相關電 子部件的貿易、開發及銷售，以及健康相關及 其他產品的貿易。

During the Year, the display panel industry continued to show signs of recovery from the previous downturn. Nevertheless, uncertainties in global trade policies, intensified price competition, slower-than-expected demand growth and a complex macroeconomic environment continued to create a challenging operating environment and exert pressure on the Group’s overall performance.

本年度，顯示面板行業延續自先前低潮回升的 跡象。然而，全球貿易政策的不確定性、日益 激烈的價格競爭、需求增長低於預期，以及複 雜的宏觀經濟環境，持續為營運環境帶來挑 戰，並對本集團之整體表現造成壓力。

The Group recorded revenue of approximately HK$104,163,000, representing an increase of approximately 12% as compared with approximately HK$92,605,000 for the year ended 31 December 2024. Through enhanced operational efficiency and strengthened cost control measures, the Group achieved a rational reduction in operating expenses, which helped mitigate its loss position during the Year. The Group also recorded a net gain of approximately HK$177,000 from its financial asset at fair value through profit or loss (“FVTPL”) in respect of its investment in Mobvoi Inc. (“Mobvoi”) (a company listed on The Stock Exchange of Hong Kong Limited, stock code: 2438), as compared with a fair value loss of approximately HK$19,207,000 recognised in 2024. Loss attributable to equity holders of the Company for the Year amounted to approximately HK$12,492,000, representing a decrease of approximately 71% as compared with the loss attributable to equity holders of the Company of approximately HK$42,906,000 recorded for the year ended 31 December 2024.

本集團於本年度錄得收入約104,163,000港元， 較截至二零二四年十二月三十一日止年度之約 92,605,000港元增加約12% 。透過提升營運效率 及加強成本管控，本集團有效地合理降低營運 開支，從而有助於緩解本年度之虧損狀況。本 集團於本年度就其按公允價值計入損益之金融 資產（「按公允價值計入損益」）（即對出門問問股 份有限公司（「出門問問」，香港聯合交易所有限 公司上市公司，股份代號：2438）之投資）錄得 淨收益約177,000港元，相比二零二四年則錄得 就對出門問問投資之公允價值虧損約 19,207,000港元。本年度本公司權益持有人應佔 虧損約12,492,000港元，較截至二零二四年十二 月三十一日止年度錄得的本公司權益持有人應 佔虧損約42,906,000港元減少約71% 。

5

圓美光電有限公司 2025 年報

Chairman’s Statement 主席報告

Sales of medium-to-large-sized display products, including display panels and modules for notebook computers, monitors and televisions, remained the Group’s primary revenue contributor and were the main driver of the increase in revenue for the Year. As television panels experienced more stable pricing conditions compared with recent years, together with the marketing strategy adopted by the Group’s supplier, the Group’s gross profit margin was improved during the Year. Amid a weaker macroeconomic environment, consumers prioritised practicality in their purchases, creating opportunities for small and medium-sized TV brands, which generally offer more affordable pricing. As part of the display panel supply chain for these small and medium-sized TV brands, the Group’s sales also benefited from this trend. In addition, new customers were developed during the Year, which supported revenue growth. These factors collectively contributed to the increase in the Group’s sales of thin film transistor liquid crystal display (“TFT-LCD”) panels and modules during the Year. Revenue from TFT-LCD panels and modules amounted to approximately HK$82,493,000, representing an increase of approximately HK$42,332,000 as compared with approximately HK$40,161,000 in 2024.

In contrast to the increase in revenue from TFT-LCD panel and module, revenue from the Group’s electronic signage products, including digital information signage, electronic shelf displays and electronic whiteboards, etc., amounted to approximately HK$6,439,000, representing a decline of approximately 50% as compared with approximately HK$12,997,000 in 2024. The Group’s electronic signage products faced intensive competition during the Year. Retailers also generally reduced capital expenditure on electronic shelf displays amid the prevailing weak economic environment, while the education sector likewise tightened budget allocation. Taken together, these factors placed significant adverse downward pressure on the sales of the Group’s electronic signage products during the Year.

The Group’s optics products, which mainly comprised automotive head-up display components in 2024, experienced a substantial decline in sales during the Year. Intensified price competition in the new energy vehicle sector in mainland China prompted automotive manufacturers to favour cost-competitive components produced domestically. Under such market conditions, the competitiveness of the Group’s optics products, which are primarily sourced from a Taiwan manufacturer, was adversely impacted. As a result, the Group’s revenue from optics products declined significantly from approximately HK$25,594,000 in 2024 to approximately HK$115,000 during the Year. To address the above challenge, the Group will continue working closely with its suppliers to introduce more competitive products for upcoming automotive models.

中至大尺寸顯示產品（包括筆記本型電腦、顯示 器及電視的顯示面板及模組）之銷售仍為本集 團的主要收入來源，並為本年度收入增長之主 要動力。由於電視面板價格相較近年更為穩 定，加上本集團供應商所採取的行銷策略，本 集團於本年度的毛利率得以提升。在較疲弱的 宏觀經濟環境下，消費者更著重實用性，為價 格普遍較相宜的中小型電視品牌帶來市場機 遇，作為中小型電視品牌顯示面板供應鏈的一 部分，本集團的銷售亦因而受惠。再者，本年 度本集團亦開拓了新客戶，從而支持收入增 長。上述因素共同推動本集團於本年度的薄膜 電晶體液晶顯示（「 TFT-LCD 」）面板及模組之銷 售。本年度TFT-LCD面板及模組收入約為 82,493,000港元，較二零二四年的約40,161,000 港元增加約42,332,000港元。

相較於TFT-LCD面板及模組收入的增加，本年 度本集團電子廣告板產品（包括數碼資訊告示 板、電子貨架顯示器及電子白板等）之收入約為 6,439,000港元，較二零二四年的約12,997,000 港元減少約50% 。本集團電子廣告板產品在本 年度面臨激烈的競爭。在疲弱的宏觀經濟環境 下，零售商亦普遍縮減於電子貨架顯示器之資 本開支，而教育板塊亦同樣收緊預算。綜合而 言，以上因素對本年度本集團電子廣告板產品 銷售造成重大不利的下行壓力。

本集團之光學產品（二零二四年主要為汽車抬 頭顯示器部件）於本年度的銷售顯著下滑。由於 中國內地新能源汽車行業之價格競爭加劇，汽 車生產商傾向採用於內地生產、性價比更高之 部件。在此等市場情況下，本集團主要由台灣 廠商供應之光學產品之競爭力受到不利影響。 因此，本集團光學產品之收入由二零二四年之 約25,594,000港元顯著下降至本年度的約 115,000港元。為應對上述挑戰，本集團將繼續 與供應商緊密合作，推出更具競爭力之產品， 以配合新車型之應用。

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Perfect Optronics Limited Annual Report 2025

Chairman’s Statement 主席報告

Sales of the Group’s health-related products during the Year mainly comprised its “K-clean” personal hygiene and disinfection products, as well as combination rapid antigen test kits. Despite post-pandemic adjustments in market demand, sales of combination rapid antigen test kits increased during the Year, supported by expanded distribution channels across clinics and pharmacies, partially offsetting the weaker demand for disinfection products. The Group also continued to optimise its product mix in response to evolving market conditions. In addition to test kits, the Group expanded its pet health food product lines, further enhancing product diversification and contributing to revenue growth. Revenue from health-related products amounted to approximately HK$12,952,000, representing a slight increase of approximately 1% compared with approximately HK$12,799,000 in 2024.

Beyond the expansion of its product portfolio, the Group continued exploring other business opportunities. In view of government policy support and growing market adoption of electric vehicles in Hong Kong, the Group expanded into the electric vehicle charging infrastructure sector by offering smart charging equipment and solutions during the Year. This initiative is expected to further strengthen the Group’s diversified business profile. The development of this line of business is expected to proceed with limited funding needs, and the Group will collaborate with suppliers to manage costs required for development and ongoing operations.

The Group’s investment in Mobvoi consists of certain ordinary shares of Mobvoi (“Mobvoi Shares”). Capitalising on the rebound in Mobvoi’s share price in the third quarter of 2025, the Group in aggregate disposed of 7,515,000 Mobvoi Shares through open-market at an aggregate net cash proceeds of approximately HK$6,907,000, thereby enhancing the Group’s cash flow position and liquidity. These disposals, after offsetting the fair value loss arising from the remaining 17,698,220 Mobvoi Shares held by the Group as at 31 December 2025, generated a net gain of approximately HK$177,000 for the Year, as compared to a fair value loss of approximately HK$19,207,000 in respect of the Group’s investment in Mobvoi recorded in 2024. The financial impact of the Group’s investment in Mobvoi significantly contributed to the narrowing of the Group’s loss for the Year. Subject to market conditions, the Group will dispose its remaining Mobvoi Shares to improve the Group’s liquidity and financial position.

本年度本集團之健康相關產品主要包括 「 K-clean 」品牌個人護理及消毒產品，以及組合 快速抗原檢測試包。儘管疫後市場需求持續調 整，惟於診所及藥房等渠道的覆蓋擴展帶動組 合快速抗原檢測試包之銷售增加，部分抵銷消 毒產品需求較弱之影響。本集團亦因應市場變 化持續優化產品組合；除檢測試包外，亦擴充 寵物健康食品系列，進一步提升產品多元化並 帶動收入增長。本年度健康相關產品收入約為 12,952,000港元，較二零二四年的約12,799,000 港元輕微增加約1% 。

除擴展產品組合外，本集團亦持續物色其他商 機。鑑於政府政策支持及香港電動汽車市場適 應度之提升，本集團已拓展至電動汽車充電基 礎設施領域，提供智能充電設備及解決方案。 此舉有望進一步強化本集團之多元化業務組 合。該業務的發展預期所需資金有限，本集團 將與供應商協作，以管理其開發及持續營運所 需的相關成本。

本集團對出門問問之投資為若干出門問問普通 股（「出門問問股份」）。本集團把握二零二五年 第三季度出門問問股價回升之機遇，於公開市 場合共出售7,515,000股出門問問股份，淨套現 合共約6,907,000港元，從而提升本集團之現金 流及流動資金。該等出售，抵銷本集團於二零 二五年十二月三十一日持有的剩餘17,698,220 股出門問問股份產生的公允價值虧損後，於本 年度產生了約177,000港元的淨收益，相比二零 二四年則為本集團就出門問問之投資錄得公允 價值虧損約19,207,000港元。本集團就出門問問 之投資的財務影響，顯著促成本集團本年度虧 損的收窄。視乎市況，本集團將出售其剩餘的 出門問問股份，以改善本集團的流動資金及財 務狀況。

7

圓美光電有限公司 2025 年報

Chairman’s Statement 主席報告

PROSPECTS

Looking ahead, profound global economic uncertainties are expected to persist, and the Group’s business is expected to face pressure under such conditions. In response, the Group will maintain its prudent and disciplined operational principles to navigate market volatility. Operationally, the Group will continue to strengthen cost control measures to enhance the resilience of its core businesses, while closely monitoring changes in global policies and structural shifts within the industry. At the same time, the Group will proactively identify growth opportunities across different sectors through flexible strategies, supported by prudent management of its financial and operational resources. By optimising resource allocation, furthering business diversification and strengthening cooperative relationships with suppliers and customers, the Group aims to pursue steady development in a complex operating environment and remains committed to delivering long-term, sustainable value to shareholders.

APPRECIATION

I, on behalf of the Board, would like to present my sincere gratitude to our shareholders, business partners and customers for their support and trust over the years. I also highly appreciate the contribution and dedication of our management and staff.

Kan Man Wai Acting Chairman Perfect Optronics Limited

Hong Kong 27 March 2026

前景

展望未來，全球經濟不確定性預期仍將持續， 在此情況下預期本集團之業務仍面對壓力。為 此，本集團將繼續秉持審慎及嚴謹的營運原 則，以應對市場波動。於營運層面，本集團將 持續加強成本管控，以提升核心業務之韌性， 同時密切關注全球政策變化及行業結構性轉 變。與此同時，本集團將透過靈活策略積極審 視不同領域的潛在發展機會，並以嚴謹管理財 務及營運資源作為基礎。透過優化資源配置、 推進業務多元化及加強與供應商及客戶之合作 關係，本集團致力於在複雜的營運環境下實現 穩健發展，並持續為股東創造長期及可持續之 價值。

致謝

本人謹此代表董事會衷心感謝股東、業務夥伴 及客戶多年來的支持及信賴。本人亦非常感激 我們管理層和全體員工所作的貢獻和付出。

簡文偉 代理主席 圓美光電有限公司

香港 二零二六年三月二十七日

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Perfect Optronics Limited Annual Report 2025

Management Discussion and Analysis 管理層討論及分析

PRINCIPAL RISKS AND UNCERTAINTIES

主要風險及不確定因素

Global economic condition

A slowdown in the global economy, including the economic climate in the mainland China, which has been one of the major markets for display products, would affect the results of the Group. A decrease in market demand may put significant downward pressure on the average selling prices. Reduced corporate and commercial activities also have a negative impact on the demand for and prices of the Group’s products. If the economy continues to grow at a slow rate, or experiences a prolonged recession, the Group’s business and results of operations will continue to be adversely affected.

全球經濟狀況

全球經濟放緩（包括中國大陸的經濟環境，此乃 其中一個顯示產品主要市場）將影響本集團業 績。市場需求下跌可能令平均售價受到巨大下 行壓力。企業及商業活動減少亦對本集團產品 的需求及價格造成不利影響。倘經濟增長率繼 續緩慢或持續蕭條，本集團的業務及經營業績 將繼續受到不利影響。

Inventory risk

The Group places orders with its suppliers based on the Group’s forecast of future procurement, customers’ intentions and indicated orders, customers’ recent purchase orders and the Group’s inventory levels. Any unanticipated drop in sales could cause the Group’s inventories to accumulate. As technology evolves quickly, the Group’s inventories may become obsolete and may adversely affect the Group’s financial position and results of operations.

存貨風險

本集團根據本集團的未來採購預測、客戶意向 及指示訂單、客戶近期採購訂單及本集團的現 有存貨水平而向供應商下達訂單。任何超出預 期的銷售下跌可導致本集團的存貨累積。由於 科技瞬息萬變，本集團的存貨可能會過時及可 能會對本集團的財務狀況和經營業績構成不利 影響。

Prices fluctuation risk

Product trends, industry trends and other factors beyond the Group’s control may cause fluctuations in selling prices and raw material prices, which could have a drastic and adverse effect on the Group’s gross profit and net profit.

價格波動風險

產品趨勢、行業趨勢及其他本集團無法控制的 因素可以導致銷售價格及原材料價格波動，繼 而可能會對本集團的毛利及淨利潤造成嚴重及 不利的影響。

Financial risks

The Group’s activities are exposed to a variety of financial risks: market risk (including foreign exchange risk, cash flow and fair value interest rate risk, price risk), credit risk and liquidity risk. Details of such risks are set out in Note 3 to the consolidated financial statements.

財務風險

本集團的業務承受各種財務風險：市場風險（包 括外匯風險、現金流量及公允價值利率風險、 價格風險）、信貸風險及流動資金風險。有關風 險詳情載於綜合財務報表附註3。

FINANCIAL REVIEW

The following discussion should be read in conjunction with the Group’s consolidated financial statements and its notes, which are included in this report.

財務回顧

以下討論應與載於本報告的本集團綜合財務報 表及其附註一併閱讀。

Revenue

Total revenue of the Group for the Year amounted to approximately HK$104,163,000, representing an approximately 12% increase as compared with approximately HK$92,605,000 in 2024. The increase was mainly due to the increase in sales of the Group's TFTLCD panels and modules during the Year.

收入

本年度，本集團的總收入約為104,163,000港 元，較二零二四年的約92,605,000港元增加約 12% 。該增加主要由於本年度本集團TFT-LCD 面板及模組的銷售增加所致。

9

圓美光電有限公司 2025 年報

Management Discussion and Analysis 管理層討論及分析

Cost of sales

Cost of sales of the Group mainly consisted of purchase costs, staff costs, provision for obsolete inventories and other direct costs. Mainly due to the increase in sales of TFT-LCD panels and modules, purchase costs increased and thus cost of sales increased during the Year as compared with 2024. Total cost of sales of the Group for the Year amounted to approximately HK$87,236,000 which increased by approximately 6% as compared to approximately HK$81,951,000 in 2024.

Gross profit

Gross profit of the Group during the Year amounted to approximately HK$16,927,000, which increased by approximately 59% as compared with approximately HK$10,654,000 in 2024. The increase in gross profit during the Year was mainly due to the increase in revenue and the improvement in gross profit margin of the Group’s TFT-LCD panels and modules.

Other gains/(losses), net

Net other gains of approximately HK$881,000 was recorded for the Year, while net other losses of approximately HK$18,818,000 was recorded in 2024. It was mainly due to the net gain on the Group’s financial asset at FVTPL in respect of its investment in Mobvoi during the Year of approximately HK$177,000 as compared to the fair value loss of approximately HK$19,207,000 recognised on the Group’s financial asset at FVTPL in 2024.

Distribution and selling expenses

The Group’s distribution and selling expenses for the Year amounted to approximately HK$9,479,000, representing an approximately 24% decrease as compared with approximately HK$12,533,000 in 2024. The decrease was mainly attributable to the decrease in staff costs and promotion expenses incurred for the Group’s health-related products.

General and administrative expenses

The Group’s general and administrative expenses for the Year amounted to approximately HK$20,765,000, representing an approximately 4% decrease as compared with approximately HK$21,557,000 in 2024. The decrease was mainly attributable to the decrease in legal and professional fees as compared to 2024.

Research and development expenses

The Group’s research and development expenses for the Year amounted to approximately HK$792,000, representing an approximately 35% decrease as compared to approximately HK$1,227,000 in 2024, which was due to the decrease in staff costs.

銷售成本

本集團的銷售成本主要包括採購成本、員工成 本、陳舊存貨撥備及其他直接成本，主要由於 TFT-LCD面板及模組銷售增加，導致採購成本 增加，因此本年度銷售成本較二零二四年增 加。本年度本集團的總銷售成本約為87,236,000 港元，較二零二四年的約81,951,000港元增加約 6% 。

毛利

本年度，本集團的毛利約為16,927,000港元，較 二零二四年的約10,654,000港元增加約59% 。本 年度毛利增加乃主要由於收入增加及本集團的 TFT-LCD面板及模組的毛利率改善所致。

其他收益（虧損）淨額 /

本年度錄得其他收益淨額約881,000港元，而二 零二四年則錄得其他虧損淨額約18,818,000港 元。主要由於本年度本集團按公允價值計入損 益之金融資產（即其於出門問問的投資）產生淨 收益約177,000港元，相比於二零二四年確認的 本集團按公允價值計入損益之金融資產的公允 價值虧損約19,207,000港元。

分銷及銷售開支

本年度，本集團的分銷及銷售開支約為 9,479,000港元，較二零二四年的約12,533,000 港元減少約24% 。減少主要由於員工成本及本 集團健康相關產品產生的推廣費用縮減所致。

一般及行政開支

本年度，本集團的一般及行政開支約為 20,765,000港元，較二零二四年的約21,557,000 港元下跌約4% 。減少主要由於法律及專業服務 費用與二零二四年相比減少所致。

研究及開發開支

本年度，本集團的研究及開發開支約為792,000 港元，較二零二四年的約1,227,000港元減少約 35% ，由於員工成本減少所致。

10

Perfect Optronics Limited Annual Report 2025

Management Discussion and Analysis 管理層討論及分析

Finance costs

The Group’s finance costs for the Year represented interest expenses on bank loan and lease liabilities of approximately HK$103,000 (2024: HK$150,000) and HK$10,000 (2024: HK$79,000), respectively.

財務費用

本年度，本集團的財務費用為銀行貸款及租賃 負債利息開支分別約103,000港元（二零二四 年：150,000港元）及10,000港元（二零二四年： 79,000港元）。

Loss attributable to equity holders of the Company

The Group recorded a loss attributable to equity holders of the Company for the Year amounted to approximately HK$12,492,000, representing a decrease in loss of approximately 71% as compared to the loss of approximately HK$42,906,000 for 2024. The Group’s loss narrowed during the Year, primarily due to the increase in revenue from the Group’s TFT-LCD panels and modules, which also supported an improvement in gross profit; a net gain recognised on the Group’s financial asset at FVTPL, whereas a net loss was recorded in 2024; and a reduction in operating expenses as a result of the Group’s ongoing cost control initiatives during the Year.

本公司權益持有人應佔虧損

本年度本集團錄得本公司權益持有人應佔虧損 約為12,492,000港元，相比二零二四年的虧損約 42,906,000港元，虧損減少約71% 。本年度本集 團的虧損有所收窄，主要由於本集團TFT-LCD 面板及模組收入增加並帶動毛利提升；本年度 就本集團按公允價值入損益之金融資產錄得淨 收益，而二零二四年錄得淨虧損；以及本集團 本年度內持續推行成本控制措施令經營開支減 少。

FINANCIAL KEY PERFORMANCE INDICATORS

The financial key performance indicators are analysed as follows:

主要財務表現指標

主要財務表現指標分析如下：

follows:
		Year ended 31 December
		截至十二月三十一日止年度
				Percentage change
		Note 2025	2024	Increase/(decrease)
				百分比變動
		附註 二零二五年 HK$’000	二零二四年 HK$’000	增加╱（減少）
		千港元	千港元
FINANCIAL PERFORMANCE	財務表現
Revenue	收入	104,163	92,605	12%
Gross profit	毛利	16,927	10,654	59%
Gross profit margin	毛利率	16.3%	11.5%	Increased by 4.8
				percentage points
				增加4.8百分點
Loss before interest, income tax,	除利息、所得稅、	(i) (13,001)	(43,208)	(70)%
depreciation and amortisation	折舊及攤銷前虧損
(“EBITDA”)	（「EBITDA」）
Loss for the year	年度虧損	(13,333)	(43,641)	(69)%
Loss attributable to equity holders	本公司權益持有人	(12,492)	(42,906)	(71)%
of the Company	應佔虧損
Return on total assets (%)	總資產回報率(%)	(ii) –30.1%	–74.8%	Improved by 44.7
				percentage points
				改善44.7百分點
Return on shareholders’ equity (%)	股東權益回報率(%)	(iii) –35.1%	–86.6%	Improved by 51.5
				percentage points
				改善51.5百分點
Basic loss per share	每股基本虧損	HK(0.84) cents	HK(2.89) cents	(71)%
		(0.84)港仙	(2.89)港仙

11

圓美光電有限公司 2025 年報

Management Discussion and Analysis 管理層討論及分析

As at 31 December 於十二月三十一日 Note 2025 2024 Percentage change Increase/(decrease) 附註 二零二五年 二零二四年 百分比變動 增加╱（減少） HK$’000 HK$’000 千港元 千港元

As at 31 December 於十二月三十一日 Note 2025 2024 Percentage change Increase/(decrease) 附註 二零二五年 二零二四年 百分比變動 增加╱（減少） HK$’000 HK$’000 千港元 千港元

KEY FINANCIAL INDICATORS 主要財務指標 Cash and cash equivalents 現金及現金等價物 18,244 Net current assets 流動資產淨額 26,833 Total assets 資產總額 44,292 Bank borrowings 銀行借貸 3,066 Total liabilities 負債總額 13,846 Equity attributable to equity holders of the Company 本公司權益持有人 應佔權益 35,571 Total equity 權益總額 30,446 Current ratio (times) 流動比率（倍） (iv) 3.3 times 3.3倍 Quick ratio (times) 速動比率（倍） (v) 2.9 times 2.9倍 Gearing ratio (%) 資本負債比率(%) (vi) 10.1% Debt-to-asset ratio (%) 負債資產比率(%) (vii) 6.9%

24,407 (25)% 41,117 (35)% 58,357 (24)% 3,809 (20)% 12,947 7% 49,573 (28)% 45,410 (33)% 5.2 times 5.2倍 Decreased by 1.9 times 減少1.9倍 4.7 times 4.7倍 Decreased by 1.8 times 減少1.8倍 8.4% Increased by 1.7 percentage points 增加1.7百分點 6.5% Increased by 0.4 percentage point 增加0.4百分點

Notes:

• (i) As the Group recorded loss before interest, income tax, depreciation and amortisation during the years ended 31 December 2025 and 2024, no EBITDA margin are presented

• (ii) Return on total assets = Loss for the year/Total assets

• (iii) Return on shareholders’ equity = Loss attributable to equity holders of the Company/Equity attributable to equity holders of the Company

• (iv) Current ratio = Current assets/Current liabilities

• (v) Quick ratio = (Current assets — Inventories)/Current liabilities

• (vi) Gearing ratio = Total interest-bearing bank borrowings/Total equity

• (vii) Debt-to-asset ratio = Total interest-bearing bank borrowings/Total assets

附註：

• (i) 由於截至二零二五年及二零二四年十二月三十一日止 年度本集團錄得除利息、所得稅、折舊及攤銷前虧 損，概無呈列EBITDA率

• (ii) 總資產回報率=年度虧損╱資產總額

• (iii) 股東權益回報率=本公司權益持有人應佔虧損╱本公 司權益持有人應佔權益

• (iv) 流動比率=流動資產╱流動負債

• (v) 速動比率=（流動資產 — 存貨）╱流動負債

• (vi) 資本負債比率=計息銀行借貸總額╱權益總額

• (vii) 負債資產比率=計息銀行借貸總額╱資產總額

12

Perfect Optronics Limited Annual Report 2025

Management Discussion and Analysis 管理層討論及分析

LIQUIDITY AND FINANCIAL RESOURCES

The Group’s funds are principally used to finance working capital, and the growth and expansion of the Group’s operations and sales network. The Group’s principal sources of funds are cash generated from operations and bank borrowings. As at 31 December 2025, the Group’s cash and cash equivalents, represented by cash on hand and at bank, amounted to approximately HK$18,244,000 (2024: HK$24,407,000).

The carrying amounts of the Group’s bank deposits, bank balances and cash are denominated in the following currencies:

流動資金及財務資源

本集團的資金主要用作撥付營運資金，及就本 集團營運及銷售網絡的增長及擴展提供資金。 本集團主要的資金來源為自營運產生的現金及 銀行借款。於二零二五年十二月三十一日，本 集團的現金及現金等價物為數約18,244,000港 元（二零二四年：24,407,000港元），乃為現金及 銀行存款。

本集團的銀行存款、銀行結餘及現金的賬面值 乃以下列貨幣計值：

		As at 31	December	December
		於十二月三十一日
		2025			2024
		二零二五年		二零二四年
		HK$’000		HK$’000
		千港元			千港元
United States dollars (“USD”)	美元（「美元」）	9,709			9,856
Renminbi (“RMB”)	人民幣（「人民幣」）	4,430			7,745
Hong Kong dollars (“HK$”)	港元（「港元」）	3,874			6,556
New Taiwan dollars(“TWD”)	新台幣（「新台幣」）	231			250
		18,244			24,407

As at 31 December 2025, the Group’s total bank borrowings comprised bank loan of approximately HK$3,066,000 (2024: HK$3,809,000). The scheduled repayment date of the Group’s bank borrowings, as set out in the loan agreement and without considering the effect of any repayment on demand clauses were as follows:

於二零二五年十二月三十一日，本集團銀行借 款總額包括銀行貸款約3,066,000港元（二零 二四年：3,809,000港元）。根據貸款協議所載及 不計及任何按要求償還條款的影響，本集團銀 行借貸之計劃償還日期載列如下：

As at 31 December 於十二月三十一日 2025 2024 二零二五年 二零二四年 HK$’000 HK$’000 千港元 千港元	As at 31 December 於十二月三十一日 2025 2024 二零二五年 二零二四年 HK$’000 HK$’000 千港元 千港元
On demand or within a period not exceeding 1 year 按要求或於不超過1年 期間 769 Within a period of more than 1 year but not exceeding 2 years 在多於1年但不超過2年 期間 790 Within a period of more than 2 years but not exceeding 5 years 在多於2年但不超過5年 期間 1,507 Within aperiod of more than 5years 超過5年期間 —	743 766 2,300 —
3,066	3,809

As at 31 December 2025 and 2024, the Group’s bank 於二零二五年及二零二四年十二月三十一日， loan was floating interest rate loan denominated in HK$. 本集團的銀行貸款為浮動利率貸款，以港元計 值。

13

圓美光電有限公司 2025 年報

Management Discussion and Analysis 管理層討論及分析

Apart from the above bank loan, which was fully utilised, the Group had no other banking facilities as at 31 December 2025 (2024: Nil).

As at 31 December 2025, the Group’s net current assets position was HK$26,833,000 (2024: HK$41,117,000) with cash and cash equivalents of HK$18,244,000 (2024: HK$24,407,000). As detailed in note 2.1(a) to the consolidated financial statements, the Board has been implementing various measures in order to improve the Group’s liquidity and financial position. The Board, after making due enquiries and considering the basis of management’s cashflow forecast and after taking into account the reasonably possible changes in the operation performance of the Group, believes there will be sufficient financial resources available to the Group for at least twelve months after 31 December 2025 to meet its financial obligations as and when they fall due.

CAPITAL STRUCTURE

The capital of the Company only comprises ordinary shares. There has been no change in the capital structure of the Group during the Year.

TREASURY POLICIES

The Group has adopted a prudent financial management approach towards its treasury policies.

The Group strives to reduce exposure to credit risk by monitoring on an ongoing basis with reference to the financial position of the debtors, past experience and other factors. The Group performs regular credit evaluations of its major customers. To manage liquidity risk, the management closely monitors the Group’s liquidity position and maintains sufficient cash to settle the payables of the Group.

RELATIONSHIPS WITH EMPLOYEES, SUPPLIERS AND CUSTOMERS

The Group’s management policies, working environment, career prospects and employees’ benefits have contributed to building good employee relations and employee retention of the Group. The Group offers competitive remuneration packages commensurate with industry practice and provides various fringe benefits to employees including medical benefits, social insurance, mandatory provident funds, bonuses and a share option scheme. The management regularly reviews its employees’ remuneration packages to ensure they are up to prevailing market standards.

As at 31 December 2025, the employee headcount of the Group was 47 (2024: 53) and the total staff costs, including directors’ emoluments, amounted to approximately HK$20,697,000 during the Year (2024: HK$22,595,000).

除上述已全數動用的銀行貸款外，本集團於二 零二五年十二月三十一日，並無銀行融資（二零 二四年︰無）。

於二零二五年十二月三十一日，本集團之淨流 動資產為26,833,000港元（二零二四年： 41,117,000港元），包括現金及現金等價物 18,244,000港元（二零二四年：24,407,000港 元）。如綜合財務報表附註2.1(a)所述，董事會已 實施多項措施，以改善本集團的流動資金及財 務狀況。董事會經作出適當查詢及考慮管理層 現金流預測的基礎及計及本集團經營表現的合 理可能變動後，相信於二零二五年十二月 三十一日後的最少十二個月內，本集團將具備 足夠的財務資源以履行其到期的財務責任。

資本結構

本公司的資本僅包括普通股。於本年度內本集 團的資本結構概無轉變。

庫務政策

本集團已就其庫務政策採取審慎財務管理方法。

本集團經參考債務人的財務狀況、過往經驗及 其他因素而持續進行監控，務求致力減低信貸 風險。本集團會定期為其主要客戶進行信貸評 估。為管理流動資金風險，管理層會緊密監察 本集團的流動資金狀況及持有足夠現金，以償 還本集團的應付款。

與僱員、供應商及客戶的關係

本集團的管理政策、工作環境、晉升前景及僱 員福利有助本集團與僱員建立良好關係及留聘 僱員。本集團為僱員提供符合行業慣例並具競 爭力的薪酬待遇及各種僱員福利，包括醫療福 利、社保、強積金、花紅及購股權計劃。管理層 定期檢討其僱員薪酬組合，確保其符合現行市 場水平。

於二零二五年十二月三十一日，本集團僱員總 數為47人（二零二四年：53人），本年度員工總 成本（包括董事酬金）約20,697,000港元（二零 二四年：22,595,000港元）。

14

Perfect Optronics Limited Annual Report 2025

Management Discussion and Analysis 管理層討論及分析

The Group has established long term business relationships with its major suppliers for over ten years. The Group has entered into long term supply framework agreements with these suppliers. The Group will endeavor to maintain its established relationship with these existing suppliers.

The Group has a well-established business relationship with its customers and has gained recognition in the TFTLCD panel industry in China. Some of its customers have over ten-year business relationships with the Group. The Group endeavours to secure the business with existing customers and at the same time devotes to develop new reliable customers in new markets.

CONTINGENT LIABILITIES

As at 31 December 2025, the Group had no material contingent liabilities (2024: Nil).

CHARGE OF ASSETS

As at 31 December 2025, the Group had no charge of assets (2024: Nil).

FOREIGN CURRENCY

The Group’s business transactions, assets and liabilities are principally denominated in USD, HK$, RMB and TWD. HK$ is reasonably stable against the USD under the Linked Exchange Rate System. In addition, the management considers that the impact on exchange differences for RMB and TWD is not significant as at 31 December 2025. The Group currently does not have a foreign currency hedging policy. However, the Board will continuously monitor the related foreign exchange exposure and will consider hedging significant foreign currency exposure should the need arise.

CAPITAL COMMITMENTS

As at 31 December 2025, the Group did not have any significant capital commitments (2024: Nil).

DIVIDEND

The Board does not recommend nor declare any dividend for the Year (2024: Nil).

本集團已與其主要供應商建立逾十年的長期業 務關係。本集團與該等供應商訂立長期供應框 架協議。本集團將致力與該等現有供應商維持 既定關係。

本集團與其客戶擁有穩固業務關係，並於中國 TFT-LCD面板行業廣獲認可。部分客戶與本集 團擁有超過十年的業務往來。本集團致力確保 與現有客戶的業務，同時投身新市場，發展值 得信賴的新客戶。

或然負債

於二零二五年十二月三十一日，本集團並無重 大或然負債（二零二四年：無）。

抵押資產

於二零二五年十二月三十一日，本集團並無已 抵押資產（二零二四年：無）。

外匯

本集團的業務交易、資產及負債均主要以美 元、港元、人民幣及新台幣計值。於聯繫匯率 制度下，港元兌美元相對穩定。此外，管理層 認為於二零二五年十二月三十一日，人民幣及 新台幣匯兌差額之影響不重大。目前，本集團 並無外幣對沖政策。然而，董事會將持續監控 相關外幣風險，並於有需要時考慮對沖重大的 外幣風險。

資本承擔

於二零二五年十二月三十一日，本集團並無任 何重大資本承擔（二零二四年：無）。

股息

本年度，董事會不建議或宣派任何股息（二零 二四年：無）。

15

圓美光電有限公司 2025 年報

Management Discussion and Analysis 管理層討論及分析

SIGNIFICANT INVESTMENTS HELD

As at 31 December 2025, the Group held 17,698,220 ordinary shares (31 December 2024: 25,213,220) of Mobvoi (representing approximately 1.14% of Mobvoi’s total number of issued shares as at 31 December 2025), a company listed on the Stock Exchange (stock code: 2438). Mobvoi is principally engaged in the rendering of AI software solutions and the sale of smart devices and other accessories to enterprise and individual customers. The Group does not have any management or operational role in Mobvoi.

The Group’s investment in Mobvoi is classified as financial asset at FVTPL. As at 31 December 2025, the fair value of the Group’s investment in Mobvoi was approximately HK$9,911,000, representing approximately 22% of the Group’s total assets.

Prior to Mobvoi’s listing in April 2024, the Group’s investment, which was originally undertaken in 2015, was held as preferred shares with an initial investment cost of USD3 million. The Company considered that the investment in Mobvoi provides an opportunity to the Group to share in and gain from the development potentials of Mobvoi and its products and technology. No dividend has been received by the Group from Mobvoi since the Group made the investment.

On 21 January 2025, an ordinary resolution of the Company was passed to grant a mandate for the disposal (the “Disposal(s)”) by Skyteam Resources Limited, an indirect wholly-owned subsidiary of the Company, from time to time in the open market or through block trade(s) of up to 25,213,220 ordinary shares in the share capital of Mobvoi during the period of 12 months from 21 January 2025 (the “Disposal Mandate”). Details of the possible Disposals and the Disposal Mandate are set out in the circular of the Company dated 31 December 2024.

During the Year, the Group had disposed of 7,515,000 Mobvoi Shares (“Disposed Mobvoi Shares”) through the open market at an aggregate cash consideration of approximately HK$6.9 million. The aforesaid disposals were conducted pursuant to the Disposal Mandate and the selling prices of the Disposed Mobvoi Shares were not lower than the minimum selling price of HK$0.70 per Mobvoi Share as stipulated under the terms of the Disposal Mandate. As the aforementioned disposals of Mobvoi Shares were conducted in the open market, the identities of the counterparties of the Disposed Mobvoi Shares cannot be ascertained. Based on the carrying amount of the Disposed Mobvoi Shares as at 31 December 2024 and the net proceeds from the disposals of the Disposed Mobvoi Shares after the deduction of broker’s commission, stamp duty and various levies, the Disposed Mobvoi Shares had contributed a net gain of approximately HK$1,947,000 for the Year. Based on the difference in amount between the respective closing price of the Mobvoi Shares as at 31 December 2025 and 31 December 2024 as quoted on the Stock Exchange, a fair value loss of approximately

所持重大投資

於二零二五年十二月三十一日，本集團持有出 門問問（於聯交所上市（股份代號：2438）） 17,698,220股普通股（二零二四年十二月三十一 日：25,213,220股）（佔二零二五年十二月三十一 日出門問問已發行股份總數目約1.14% ）。出門 問問主要從事向企業及個人客戶提供人工智能 軟件解決方案及銷售智能設備及其他配件。本 集團在出門問問並無任何管理或營運角色。

本集團於出門問問的投資分類為按公允價值計 入損益之金融資產。於二零二五年十二月 三十一日，本集團於出門問問的投資的公允價 值約為9,911,000港元，佔本集團資產總值約 22% 。

在出門問問於二零二四年四月上市之前，本集 團於出門問問的投資（原先於二零一五年進行） 以優先股形式持有，初始投資成本為三百萬美 元。本公司認為投資出門問問將使本集團有機 會分享及從出門問問及其產品和技術的發展潛 力獲益。自本集團投資以來，本集團並無從出 門問問獲得任何股息。

於二零二五年一月二十一日，本公司的一項普 通決議案通過授出一項Skyteam Resources Limited ，一間本公司間接持有的全資擁有的附 屬公司，自二零二五年一月二十一日起十二個 月內不時在公開市場或透過大手交易出售出門 問問股本中最多25,213,220股普通股（「出售事 項」）的授權（「出售授權」）。該可能出售事項及 出售授權之詳情載於本公司日期為二零二四年 十二月三十一日的通函內。

於本年度，本集團已於公開市場以總現金代價 約6.9百萬港元出售合共7,515,000股出門問問股 份（「已售出門問問股份」）。上述出售乃根據出 售授權進行，且已售出門問問股份之出售價格 均不低於出售授權條款所訂明之每股出門問問 股份之最低售價0.70港元。由於上述出售的出 門問問股份乃於公開市場進行，故無法確定已 售出門問問股份的對手方身份。根據已售出門 問問股份於二零二四年十二月三十一日之帳面 價值及出售事項的淨所得款項（已扣除經紀佣 金、印花稅及各項徵費），已售出門問問股份為 本年度貢獻淨收益約1,947,000港元。根據聯交 所所報的出門問問股份分別於二零二五年十二 月三十一日及於二零二四年十二月三十一日的 收市價之差額，就本集團於二零二五年十二月

16

Perfect Optronics Limited Annual Report 2025

Management Discussion and Analysis 管理層討論及分析

HK$1,770,000 for the Year is recognised on the remaining 17,698,220 Mobvoi Shares held by the Group as at 31 December 2025. Combining the above two items a net gain in respect of the Group’s investment in Mobvoi of approximately HK$177,000 is generated for the Year.

Save for the abovementioned, the Group did not hold any significant investment in equity interest in any other company as at 31 December 2025.

The investment objective of the Group is to enhance long-term shareholder value through capital appreciation of its investment portfolio. Subject to market conditions, the Group will dispose its remaining Mobvoi Shares to improve the Group’s liquidity and financial position. Save for the disposals of the Mobvoi Shares, the Group does not currently engage in securities trading activities. Should any other investments be considered in the future, the Group will ensure that there remains sufficient working capital for its business needs after making such investments. The Group generally focuses on investments with sound fundamentals and growth potential, particularly in sectors that are complementary to or have synergies with the Group’s principal business and corporate strategy. The Group’s investment decisions will be made on a case-by-case basis and after due and careful consideration of a number of factors, including but not limited to the Group’s cash requirement, the market conditions, the investee’s financial performance, business prospects, valuation and the investment cost. The Board oversees and regularly reviews the performance of all the investments of the Group on an ongoing basis including managing any risk arising from such investments, and its formal approval must be obtained before the acquisition or disposal of any investment.

FUTURE PLANS FOR MATERIAL INVESTMENTS AND CAPITAL ASSETS

Save for the possible Disposals at appropriate time(s) and price(s) in order to maximise the returns to the Group, the Group did not have plans for material investments and capital assets as at 31 December 2025.

MATERIAL ACQUISITIONS AND DISPOSALS OF SUBSIDIARIES, ASSOCIATES AND JOINT VENTURES

The Group did not have any material acquisitions and disposals of subsidiaries, associates and joint ventures during the Year.

三十一日持有餘下的17,698,220股出門問問股 份，於本年度確認公允價值虧損約1,770,000港 元。結合以上兩項，於本年度就本集團於出門 問問的投資，產生淨收益約177,000港元。

除上文所述者外，於二零二五年十二月三十一 日，本集團概無於任何其他公司持有任何重大 股權投資。

本集團的投資目標為透過其投資組合的資本增 值，提升股東的長期價值。視乎市況，本集團 將出售其剩餘的出門問問股份，以改善本集團 的流動資金及財務狀況。除出售出門問問股份 外，本集團目前並無從事證券交易活動。若未 來考慮任何其他投資，本集團將確保於進行該 等投資後仍有足夠的營運資金滿足本集團的業 務需求。本集團一般專注於具有穩健基本面及 增長潛力的投資，尤其是與本集團的主營業務 及企業策略具互補性或協同效應的行業。本集 團的投資決策將會經審慎仔細考慮多項因素後 按個別個案基準作出，該等因素包括但不限於 本集團的現金需求、市場狀況、被投資方的財 務表現、營商前景、估值及投資成本。董事會 負責持續監督及定期檢討本集團的所有投資的 表現，包括管理該等投資所產生的任何風險， 且進行收購或出售任何投資前均須取得董事會 的正式批准。

重大投資及資本資產的未來計劃

除於適當時間及價格可能進行出售事項以最大 化本集團的回報外，於二零二五年十二月 三十一日，本集團概無重大投資及資本資產的 計劃。

重大收購及出售附屬公司，聯屬公 司及合營企業

於本年度，本集團概無任何重大收購及出售附 屬公司，聯屬公司及合營企業的事項。

17

圓美光電有限公司 2025 年報

Management Discussion and Analysis 管理層討論及分析

LEGAL PROCEEDINGS INVOLVING THE COMPANY AND THE DIRECTORS

Reference is made to the announcements of the Company dated 26 September 2019, 4 October 2019, 10 January 2020, 9 April 2020, 10 July 2020 and 25 September 2020. On 25 September 2019, the Company received a sealed copy of a petition (the “Petition”) issued by the High Court of the Hong Kong Special Administrative Region (the “High Court”) which was taken out by the Securities and Futures Commission (the “SFC”) pursuant to section 214 of the Securities and Futures Ordinance against certain current Directors, namely Mr. Cheng Wai Tak, Mr. Liu Ka Wing and Mr. Tse Ka Wing, and certain former Directors, namely Mr. Wong Yik Chung John, Mr. Wong Chi Chiu and Mr. Li Shui Yan (collectively “the Director Respondents”), and the Company. The SFC alleged in the Petition that the Director Respondents had breached their duties as directors of the Company in relation to the disposal of a subsidiary of the Company holding an approximately 50.14% shareholding in 尚立光電股份有限公司 (Shinyoptics Corporation*) (details of such disposal were disclosed in the announcement of the Company dated 22 December 2016). As the Company is only a nominal respondent to the Petition and pursuant to the order of the High Court, the Company is not required to actively participate in the legal proceedings in respect of the Petition.

As detailed in the Company’s announcement dated 25 September 2020, with effect from 25 September 2020, pending the outcome of the legal proceedings of the Petition, the Director Respondents have been suspended from their duties as Directors. Mr. Cheng Wai Tak has also been suspended from his duties as the Chairman of the Board and the Chief Executive Officer (“CEO”) of the Company. Mr. Kan Man Wai, an independent non-executive Director, has been appointed as the acting Chairman in place of Mr. Cheng Wai Tak. The function of the CEO is shared among the management staff of the Company and other members of the Board.

The Company understands the Director Respondents disagree with the allegations of the SFC in the Petition, and intend to vigorously contest the Petition. As at the date of this report, the legal proceedings of the Petition are ongoing.

涉及本公司及董事之法律程序

茲提述本公司日期為二零一九年九月二十六 日、二零一九年十月四日、二零二零年一月十 日、二零二零年四月九日、二零二零年七月十 日及二零二零年九月二十五日之公告。於二零 一九年九月二十五日，本公司接獲香港特別行 政區高等法院（「高等法院」）發出之呈請（「呈 請」）之蓋章文本。呈請由證券及期貨事務監察 委員會（「證監會」）根據證券及期貨條例第214條 向若干現任董事，即鄭偉德先生、廖嘉榮先生 及謝家榮先生，以及若干前任董事，即黃翼忠 先生、黃智超先生及李瑞恩先生（統稱「董事答 辯人」），以及本公司提出。證監會於呈請中指 稱，就出售持有尚立光電股份有限公司約 50.14%股權之本公司附屬公司（該出售之詳情 於本公司日期為二零一六年十二月二十二日之 公告披露），董事答辯人違反彼等作為本公司董 事之職責。由於本公司僅作為呈請中的名義上 的答辯人及根據高等法院的頒令，本公司並不 需要積極參與呈請相關的法律程序。

誠如本公司日期為二零二零年九月二十五日之 公告所詳述，自二零二零年九月二十五日起， 待呈請的法律程序得出結果之前，董事答辯人 已暫停其董事職務。鄭偉德先生亦已暫停本公 司董事會主席及行政總裁（「行政總裁」）職務。 獨立非執行董事簡文偉先生已獲委任為代理主 席，以接替鄭偉德先生。行政總裁的職能由本 公司管理人員及董事會其他成員分擔。

本公司知悉董事答辯人不同意證監會在呈請中 所作的指稱，並擬積極就呈請抗辯。於本報告 日期，呈請之法律程序仍在進行。

• for identification purpose only

18

Perfect Optronics Limited Annual Report 2025

Corporate Governance Report 企業管治報告

CORPORATE GOVERNANCE PRACTICES

The Company is committed to achieving high standards of corporate governance with a view to safeguarding the interests of its shareholders. To accomplish this, the Company has adopted the principles and the code provisions of the Corporate Governance Code (the “CG Code”) contained in Appendix C1 of the GEM Listing Rules.

企業管治常規

本公司致力達至高水準的企業管治，旨在保障 其股東利益。為達成此目標，本公司已採納 GEM上市規則附錄C1所載企業管治守則（「企業 管治守則」）的原則及守則條文。

Throughout the Year, the Company had complied with all the code provisions of the CG Code for the time being in force.

於本年度內，本公司已遵守當時生效之企業管 治守則的所有守則條文。

COMPLIANCE WITH CODE OF CONDUCT FOR DIRECTORS’ SECURITIES TRANSACTIONS

遵守董事進行證券交易的操守守則

The Company has adopted a code of conduct regarding securities transactions by directors on terms no less exacting than the required standard of dealings set out in Rules 5.48 to 5.67 of the GEM Listing Rules. Having made specific enquiry of all Directors, all Directors have complied with the required standard of dealings and the code of conduct regarding securities transactions by Directors adopted by the Company during the Year.

本公司已採納一套有關董事進行證券交易之操 守守則，該守則之條款與GEM上市規則第5.48 至第5.67條所規定之交易標準同樣嚴謹。本公 司已向全體董事作出具體查詢，全體董事於本 年度內已遵守本公司所採納有關董事進行證券 交易之所需交易標準及操守守則。

BOARD OF DIRECTORS

董事會

Composition of the Board

Up to the date of this annual report, the Board comprises four executive Directors and three independent nonexecutive Directors. The composition of the Board during the Year and up to the date of this annual report was as follows.

董事會的組成

截至本年報日期止，董事會由四名執行董事及 三名獨立非執行董事組成。於本年度及截至本 年報日期，董事會的組成如下：

Executive Directors:

Mr. Cheng Wai Tak (suspended) Mr. Liu Ka Wing (suspended) Mr. Tse Ka Wing (suspended) Mr. Chang Huan Chia

Independent non-executive Directors:

Mr. Kan Man Wai (Acting Chairman) Ms. Hsu Wai Man Helen Mr. Lau Ngai Kee Ricky

Biographical details of all Directors and senior management of the Company are set out on pages 77 to 79 of this annual report. To the best knowledge of the Company, there is no financial, business, family or other material or relevant relationships among members of the Board.

執行董事：

鄭偉德先生（已暫停職務） 廖嘉榮先生（已暫停職務） 謝家榮先生（已暫停職務） 張桓嘉先生

獨立非執行董事：

簡文偉先生（代理主席） 徐慧敏女士 劉毅基先生

全體董事及本公司高級管理層的履歷詳情載於 本年報第77至79頁內。就本公司所深知，董事 會成員之間概無任何財務、業務、家族或其他 重大或相關關係。

19

圓美光電有限公司 2025 年報

Corporate Governance Report 企業管治報告

As disclosed in the announcement of the Company dated 25 September 2020, pending the outcome of the legal proceedings of the Petition against certain current Directors, including Mr. Cheng Wai Tak, Mr. Liu Ka Wing and Mr. Tse Ka Wing and certain former Directors. Mr. Cheng Wai Tak, Mr. Liu Ka Wing and Mr. Tse Ka Wing have been suspended from their duties as Directors with effect from 25 September 2020. Mr. Kan Man Wai has been appointed as the acting Chairman in place of Mr. Cheng Wai Tak with effect from 25 September 2020. For further details, please refer to the announcement of the Company dated 25 September 2020.

FUNCTIONS OF THE BOARD AND MANAGEMENT

The Board is responsible for establishing the strategic direction of the Company and its subsidiaries; setting objectives and business development plans; monitoring the performance of the senior management; and assuming responsibility for corporate governance. The management is responsible for implementing the strategies and plans established by the Board and reporting on the Group’s operations to the Board on a regular basis to ensure effective performance of the Board’s responsibilities.

The management provided all members of the Board with monthly updates in accordance with the code provision D.1.2 of the CG Code.

DIRECTORS’ AND OFFICERS’ LIABILITIES

The Company has arranged appropriate insurance coverage on Directors’ and officers’ liabilities in respect of any legal actions taken against Directors and senior management arising out of corporate activities. The insurance coverage is reviewed on an annual basis.

BOARD MEETINGS

The Directors can attend meetings in person or through other means of electronic communication in accordance with the Company’s articles of association. All minutes of the Board meetings were recorded in sufficient detail of the matters considered by the Board and the decisions made.

誠如本公司日期為二零二零年九月二十五日的 公告所披露，待向若干現任董事（包括鄭偉德先 生、廖嘉榮先生及謝家榮先生）及若干前任董事 提出的呈請的法律程序得出結果之前，鄭偉德 先生、廖嘉榮先生及謝家榮先生自二零二零年 九月二十五日起暫停彼等作為董事的職務。簡 文偉先生獲委任為代理主席以接替鄭偉德先 生，由二零二零年九月二十五日起生效。更多 詳情請參閱本公司日期為二零二零年九月 二十五日的公告。

董事會及管理層職能

董事會之職責為制訂本公司及其附屬公司之策 略性方向；訂立目標及業務發展計劃；監督高 級管理層之表現及負責企業管治。管理層負責 執行由董事會制訂之策略及計劃，及定時就本 集團之運作向董事會報告以確保董事會之職責 有效地執行。

根據企業管治守則守則條文第D.1.2條，管理層 每月向董事會全體成員提供更新資訊。

董事及高級職員的責任

本公司已為董事及高級職員安排適當的責任保 險，覆蓋因公司活動而針對董事及高級管理層 採取的任何法律行動。保險保障範圍每年檢討 一次。

董事會會議

根據本公司組織章程細則，董事可親身或以其 他電子通訊方式出席會議。所有董事會會議紀 錄已詳細記錄董事會考慮之事宜及已達成之決 定。

20

Perfect Optronics Limited Annual Report 2025

Corporate Governance Report 企業管治報告

Four regular board meetings were held during the Year. The attendance of individual Directors at these board meetings were as follows:

董事會於本年度內舉行四次定期會議。個別董 事出席董事會會議之情況如下：

		Number of
		regular board
		meetings
Name		attended/held
		出席╱舉行
		定期的董事會
姓名		會議次數
Executive Directors:	執行董事：
Mr. Cheng Wai Tak	鄭偉德先生	4/4
Mr. Liu Ka Wing	廖嘉榮先生	4/4
Mr. Tse Ka Wing	謝家榮先生	4/4
Mr. Chang Huan Chia	張桓嘉先生	4/4
Independent non-executive Directors:	獨立非執行董事：
Mr. Kan Man Wai	簡文偉先生	4/4
Ms. Hsu Wai Man Helen	徐慧敏女士	4/4
Mr. Lau Ngai Kee Ricky	劉毅基先生	4/4

CONTINUOUS PROFESSIONAL DEVELOPMENT

According to the CG Code, all directors shall participate in continuous professional development to develop and refresh their knowledge and skills to ensure their contribution to the Board remains informed and relevant.

持續專業發展

根據企業管治守則，全體董事將參與持續專業 發展，發展及更新彼等的知識及技能，確保彼 等繼續在具備全面資訊及切合所需的情況下對 董事會作出貢獻。

21

圓美光電有限公司 2025 年報

Corporate Governance Report 企業管治報告

本集團連同其法律顧問持續更新董事有關GEM 上市規則及其他適用監管規定的最新發展，以 確保合規及增強彼等對良好企業管治常規的意 識。本公司已收到董事本年度的培訓記錄，有 關董事於本年度參與培訓的概要列載如下：

The Group, together with its legal advisors, continuously update the Directors on the latest developments regarding the GEM Listing Rules and other applicable regulatory requirements, to ensure compliance and enhance their awareness of good corporate governance practices. The Company has received the Directors’ training records for the Year, and a summary of training participated by the Directors during the Year is set out below:

Type of training (Note) 培訓類型（附註）

Name				Type of training (Note)
姓名				培訓類型（附註）
Executive Directors:	執行董事：
Mr. Cheng Wai Tak	鄭偉德先生			1, 2
Mr. Liu Ka Wing	廖嘉榮先生			1, 2
Mr. Tse Ka Wing	謝家榮先生			1, 2
Mr. Chang Huan Chia	張桓嘉先生			1, 2
Independent non-executive Directors:	獨立非執行董事：
Mr. Kan Man Wai	簡文偉先生			1, 2
Ms. Hsu Wai Man Helen	徐慧敏女士			1, 2
Mr. Lau Ngai Kee Ricky	劉毅基先生			1, 2
Note 1: attending training courses, seminars, workshops or in-house		附註1：	出席培訓課程、講座、工作坊或內部簡報會或進行
briefings or giving talks			演講

• 附註2： 閱讀有關法律及法規、企業管治以及其他與本集團 策略及業務相關的主題的資料

• Note 2: reading materials relating to laws and regulations, corporate governance, and other topics relevant to the Group’s strategy and business

APPOINTMENT AND RE-ELECTION OF DIRECTORS

委任及重選董事

Each of the independent non-executive Directors has entered into an appointment letter with the Company for a term of three years.

By virtue of article 112 of the articles of association of the Company, the Board shall have power from time to time and at any time to appoint any person as a Director either to fill a casual vacancy or as an additional Director but the number of Directors so appointed shall not exceed the maximum number determined from time to time by the shareholders in general meeting. Any Director appointed by the Board to fill a casual vacancy shall hold office only until the first general meeting of the Company after his appointment and be subject to re-election at such meeting. Any Director appointed by the Board as an addition to the existing Board shall hold office only until the next following annual general meeting of the Company and shall then be eligible for re-election.

各獨立非執行董事與本公司已訂立委任書，為 期三年。

根據本公司組織章程細則第112條，董事會有權 不時及隨時委任任何人士為董事，以填補董事 會臨時空缺或作為新增董事，惟如此獲委任的 董事人數不得超過股東於股東大會上不時釐定 的最高人數。任何獲董事會委任填補臨時空缺 之董事之任期至其獲委任後的首次股東大會為 止，並可於會上膺選連任。任何獲董事會委任 作現有董事會的新增成員之董事，任期僅至本 公司下屆股東週年大會為止，屆時有資格於會 上膺選連任。

22

Perfect Optronics Limited Annual Report 2025

Corporate Governance Report 企業管治報告

In compliance with the code provision in B.2.2 of the CG Code, all Directors are subject to retirement by rotation at least once every three years. Furthermore, pursuant to article 108(a) of the articles of association of the Company, at each annual general meeting, one-third of the Directors for the time being, or, if their number is not 3 or a multiple of 3, then the number nearest to but not less than one-third, shall retire from office by rotation, provided that every Director (including those appointed for a specific term) shall be subject to retirement by rotation at least once every 3 years. A retiring Director shall be eligible for re-election. The Company at the general meeting at which a Director retires may fill the vacated office.

By virtue of article 108 of the articles of association of the Company, Mr. Liu Ka Wing, Mr. Chang Huan Chia and Ms. Hsu Wai Man Helen will retire by rotation at the forthcoming annual general meeting and being eligible, will offer themselves for re-election.

INDEPENDENT NON-EXECUTIVE DIRECTORS

In compliance with Rules 5.05(1), 5.05(2) and 5.05A of the GEM Listing Rules, the Company has appointed three independent non-executive Directors, representing more than one-third of the Board and with at least one of whom having appropriate professional qualifications, or accounting or related financial management expertise. The Company has received annual independence confirmation from each of the existing independent non-executive Directors pursuant to Rule 5.09 of the GEM Listing Rules. The Board considers all independent non-executive Directors to be independent in accordance with the independence guidelines set out in the GEM Listing Rules for the Year.

BOARD COMMITTEES

The Board has established, with written terms of reference, three Board committees, namely audit committee, remuneration committee and nomination committee, to oversee particular aspects of the Company’s affairs. The Board committees are provided with sufficient resources to discharge their duties. The written terms of reference for each Board committee are in line with the GEM Listing Rules and are available on the websites of the Stock Exchange and the Company, respectively.

為符合企業管治守則的守則條文第B.2.2條，所 有董事須最少每三年輪值退任一次。此外，根 據本公司組織章程細則第108(a)條，在每一屆的 股東週年大會上，當時三分之一（或倘人數並非 為三或三的倍數，則最接近但不少於三分之一 的數目）的董事須輪值退任，惟各董事（包括具 特定委任年期的董事）須最少每三年輪值退任 一次。退任董事合資格膺選連任。本公司可於 董事退任的股東大會上填補臨時空缺。

根據本公司組織章程細則第108條，廖嘉榮先 生、張桓嘉先生及徐慧敏女士將於應屆股東週 年大會輪席退任，且彼等符合資格並將願意重 選連任。

獨立非執行董事

為符合GEM上市規則第5.05(1) 、第5.05(2)及第 5.05A條，本公司已委任三名獨立非執行董事， 比例超過董事會成員的三分之一，且彼等當中 至少有一名擁有合適的專業資格或會計或相關 財務管理專長。根據GEM上市規則第5.09條之 規定，本公司已分別接獲各現任獨立非執行董 事之年度獨立確認書。董事會認為根據GEM上 市規則所載的獨立指引，所有獨立非執行董事 本年度內均屬獨立。

董事會委員會

董事會已成立三個董事會委員會，分別為審核 委員會、薪酬委員會及提名委員會，並定有書 面職責條款，以監管本公司特定方面的事務。 本公司為董事會委員會提供足夠資源以履行其 職務。各董事會委員會的書面職責條款符合 GEM上市規則，並可分別於聯交所及本公司網 站查閱。

23

圓美光電有限公司 2025 年報

Corporate Governance Report 企業管治報告

AUDIT COMMITTEE

The Company has established an audit committee on 20 January 2014 with written terms of reference in compliance with Rule 5.28 of the GEM Listing Rules and code provision D.3.3 of the CG Code. As at the date of this report, the audit committee consists of three independent non-executive Directors, namely, Ms. Hsu Wai Man Helen, who has the appropriate accounting and related financial management expertise and serves as the chairperson of the audit committee, Mr. Kan Man Wai and Mr. Lau Ngai Kee Ricky.

The primary duties of the audit committee are (but without limitation) to assist the Board in providing an independent view of the effectiveness of the Company’s financial reporting process and internal control and to review the Company’s risk management and internal control systems, to oversee the audit process and to perform other duties and responsibilities as assigned by the Board.

The audit committee held three meetings during the Year. Its composition and attendance of individual members at these audit committee meetings are as follows:

審核委員會

本公司已於二零一四年一月二十日成立審核委 員會，其書面職責條款符合GEM上市規則第 5.28條及企業管治守則的守則條文第D.3.3條規 定。於本報告日期，審核委員會由三名獨立非 執行董事組成，由具備適當的會計及相關的財 務管理專長的徐慧敏女士出任審核委員會主 席，其餘成員為簡文偉先生及劉毅基先生。

審核委員會的主要職責為（但不限於）協助董事 會，就本公司財務申報過程及內部監控，以及 檢討本公司的風險管理及內部控制系統的有效 程度向其提供獨立意見，並監管審核過程以及 進行董事會委派之其他職責及責任。

審核委員會於本年度內舉行三次會議。其成員 及個別成員於該等審核委員會會議之出席率如 下：

		Number of audit
		committee meetings
Members of the audit committee		attended/held
		出席╱舉行的
		審核委員會
審核委員會成員		會議次數
Ms. Hsu Wai Man Helen (Chairperson)	徐慧敏女士（主席）	3/3
Mr. Kan Man Wai	簡文偉先生	3/3
Mr. Lau Ngai Kee Ricky	劉毅基先生	3/3

During the Year, the audit committee reviewed the Company’s annual financial statements, annual results announcement, interim results announcements and reports; discussed and reviewed the internal control and risk management systems of the Group; reviewed the effectiveness of the Company’s internal audit function; met with the independent external auditors and reviewed report from the independent external auditors regarding their audit on annual financial statements.

於本年度內，審核委員會審閱本公司之年度財 務報表、年度業績公告、中期業績公告及報告； 討論及檢討本集團之內部監控及風險管理系 統；檢討本公司的內部審核職能的有效性；會 見獨立外部核數師及審閱獨立外部核數師關於 其審核年度財務報表之報告。

REMUNERATION COMMITTEE

The Company established a remuneration committee on 20 January 2014 with written terms of reference in compliance with code provision E.1.2 of the CG Code. As at the date of this report, the remuneration committee consists of three independent non-executive Directors, namely, Mr. Kan Man Wai, who serves as the chairman of the remuneration committee, Ms. Hsu Wai Man Helen and Mr. Lau Ngai Kee Ricky.

薪酬委員會

本公司已於二零一四年一月二十日成立薪酬委 員會，其書面職責條款符合企業管治守則的守 則條文第E.1.2條。於本報告日期，薪酬委員會 由三名獨立非執行董事組成，簡文偉先生出任 薪酬委員會的主席，其餘成員為徐慧敏女士及 劉毅基先生。

24 Perfect Optronics Limited Annual Report 2025

Corporate Governance Report 企業管治報告

The primary duties of the remuneration committee include (but without limitation): (i) making recommendations to the Board on the policy and structure for all remuneration of Directors and senior management and on the establishment of a formal and transparent procedure for developing policies on such remuneration; (ii) determining the terms of the specific remuneration packages of the Directors and senior management; and (iii) reviewing and approving performance-based remuneration by reference to corporate goals and objectives resolved by the Board from time to time.

薪酬委員會的主要職責包括（但不限於）：(i)就 一切董事及高級管理層的薪酬政策及架構以及 制訂正式及透明的薪酬政策訂立程序，向董事 會提供推薦意見；(ii)釐定董事及高級管理層特 定薪酬配套之條款；及(iii)按照董事會不時決議 的企業目標及方針審閱及批核按表現釐定的薪 酬。

During the Year, the remuneration committee held two meetings for, inter alia, reviewing the policy and structure for all remuneration of Directors and senior management, assessing performance of executive Directors, approving the terms of executive Directors’ service contracts and independent non-executive Director’s appointment letter, and making recommendations to the Board regarding the remuneration packages of executive Directors and senior management and director’s fee of independent non-executive Directors. The remuneration committee was satisfied with the existing arrangement and did not make recommendation to the Board on any change of such policy and structure.

於本年度內，薪酬委員會舉行了兩次會議，以 （其中包括）審閱所有董事及高級管理層的薪酬 政策及架構、評估執行董事的表現、批准執行 董事服務合約及獨立非執行董事的委任書的條 款、以及就執行董事及高級管理層的薪酬組 合，以及獨立非執行董事之袍金，向董事會建 議。薪酬委員會信納現有安排及概無就任何變 更該等政策及架構而向董事會提出推薦建議。

		Number of remuneration
		committee meetings
Members of the remuneration committee		attended/held
		出席╱舉行的
		薪酬委員會
薪酬委員會成員		會議次數
Mr. Kan Man Wai (Chairman)	簡文偉先生（主席）	2/2
Ms. Hsu Wai Man Helen	徐慧敏女士	2/2
Mr. Lau Ngai Kee Ricky	劉毅基先生	2/2

REMUNERATION POLICY FOR DIRECTORS AND SENIOR MANAGEMENT

Each of the Directors will receive a fee which is subject to an annual adjustment at a rate to be reviewed by the remuneration committee and be determined at the discretion of the Board. The Company’s policy concerning the remuneration of the Directors is that the amount of remuneration is determined by reference to the relevant Director’s experience, responsibilities, workload and time devoted to the Group. The Group has adopted incentive bonus schemes and continues to maintain these schemes in order to align the financial well-being of the Group with that of the employees, and to retain the Directors and staff of high caliber.

董事及高級管理層的薪酬政策

各董事所收取的費用會作出年度調整，比率由 薪酬委員會審閱及董事會酌情決定。本公司的 董事薪酬政策，是參考有關董事的經驗、職責、 工作量及為本集團付出的時間而釐定薪酬。本 集團採用獎勵花紅計劃，且會繼續沿用有關計 劃，使本集團在財務上的利益與僱員的利益一 致，以及挽留董事及高質素員工。

圓美光電有限公司 2025 年報 25

Corporate Governance Report 企業管治報告

The executive Directors are the only senior management of the Company. Details of the remuneration of executive Directors for the year ended 31 December 2025 are set out in Note 34(a) to the audited consolidated financial statements contained in this annual report.

執行董事為本公司唯一的高級管理層。截至二 零二五年十二月三十一日止年度執行董事薪酬 詳情載於本年報內經審核綜合財務報表附註 34(a) 。

SHARE OPTION SCHEME

The Company has adopted a new share option scheme on 18 June 2024 pursuant to which the Company may grant options to eligible persons, details of which are set out from pages 81 to 85 of this annual report. No share option has been granted under the share option schemes of the Company since their adoptions.

購股權計劃

本公司已於二零二四年六月十八日採納一項新 的購股權計劃，據此，本公司可向符合條件人 仕授出購股權，詳情載於本年報第81至85頁。 自購股權計劃獲採納起，概無根據本公司購股 權計劃授出購股權。

NOMINATION COMMITTEE

The Company established a nomination committee on 20 January 2014 with written terms of reference in compliance with code provision B.3.1 of the CG Code. As at the date of this report, the nomination committee consists of three independent non-executive Directors, namely, Mr. Lau Ngai Kee Ricky, who serves as chairman of the nomination committee, Mr. Kan Man Wai and Ms. Hsu Wai Man Helen.

The primary functions of the nomination committee include making recommendations to the Board to fill vacancies on the same, assessing the independence of independent non-executive Directors, making recommendations to the Board on the re-appointment of Directors and succession planning for Directors and reviewing the structure, size and composition of the Board, implementing and reviewing the board diversity policy, regularly reviewing the time required from a director to perform his/her responsibilities, assessing the Board in maintaining a Board skills matrix and supporting the Company’s regular evaluation of the Board’s performance.

During the Year, the nomination committee held one meeting for, inter alia, reviewing the structure, size and composition of the Board and board diversity policy, discussing matters regarding the retirement and re-election of Directors, assessment of the independence of independent non-executive Directors, and reviewing the Company’s policy for the nomination of Directors (the “Nomination Policy”).

提名委員會

本公司已於二零一四年一月二十日成立提名委 員會，其書面職責條款符合企業管治守則的守 則條文第B.3.1條。於本報告日期，提名委員會 由三名獨立非執行董事組成，劉毅基先生出任 提名委員會的主席，其餘成員為簡文偉先生及 徐慧敏女士。

提名委員會的主要職責包括向董事會推薦人 選，以填補董事會空缺，評估獨立非執行董事 的獨立性，並就續聘董事及董事的承替計劃提 出建議及檢討董事會的架構、規模及組成，執 行及檢討董事會成員多元化政策，定期檢討董 事履行其職責所需的時間，協助董事會編製董 事會技能表及支援本公司定期評估董事會表現。

於本年度內，提名委員會已舉行一次會議，以 （其中包括）審閱董事會的架構、規模及組成及 董事會成員多元化政策，討論有關董事退任及 重選的事宜，評估獨立非執行董事之獨立性， 及審閱本公司提名董事的政策（「提名政策」）。

		Number of nomination
		committee meetings
Members of the nomination committee		attended/held
		出席╱舉行的提名
提名委員會成員		委員會會議次數
Mr. Lau Ngai Kee Ricky (Chairman)	劉毅基先生（主席）	1/1
Mr. Kan Man Wai	簡文偉先生	1/1
Ms. Hsu Wai Man Helen	徐慧敏女士	1/1

26

Perfect Optronics Limited Annual Report 2025

Corporate Governance Report 企業管治報告

POLICY FOR NOMINATION OF DIRECTORS

The Nomination Policy was adopted by the Company pursuant to Board resolutions. The nomination committee will review the Nomination Policy, as appropriate, to ensure the effectiveness of the Nomination Policy and will discuss any revisions that may be required, and recommend any such revisions to the Board for consideration and approval. The Nomination Policy is set out as follows:

1. Objective

This policy sets out the criteria and procedures to be adopted when considering candidates to be appointed or re-elected as Directors.

2. Nomination Criteria

The nomination committee shall consider the following criteria in evaluating and selecting candidates for directorship:

• Character and integrity;

• Qualifications including professional qualifications, skills, knowledge and experience that are relevant to the Company’s business and corporate strategy;

• Willingness to devote adequate time to discharge duties as a member of the Board;

• Board Diversity Policy and any measurable objectives adopted for achieving diversity on the Board;

• Requirement for the Board to have independent non-executive directors in accordance with the GEM Listing Rules and whether the candidates would be considered independent with reference to the independence guidelines set out in the GEM Listing Rules; and

• Such other perspectives as are appropriate to the Company’s business or as suggested by the Board.

董事提名政策

提名政策由本公司根據董事會決議案採納。提 名委員會將適時審閱提名政策，以確保提名政 策的有效性並將討論可能需要的任何修訂，以 及向董事會建議任何該等修訂，供其考慮及審 批。提名政策載列如下：

1. 目的

• 本政策載列於考慮將委任或重選為董事的 候選人時將採納的準則及步驟。

提名準則

2.

• 提名委員會於評估及甄選董事候選人時將 考慮下列準則：

• 品格及誠信；

• 有關本公司業務及企業策略的專業 資格、技術、知識及經驗等資格；

• 願意投放充分時間履行作為董事會 成員的職責；

• 就達致董事會多元化所採納的董事 會多元化政策及任何可計量的目標；

• 根據GEM上市規則規定董事會須設 有獨立非執行董事，而候選人的獨 立性將參考GEM上市規則所載獨立 性指引而定；及

• 適用於本公司業務或由董事會建議 的有關其他方面。

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圓美光電有限公司 2025 年報

Corporate Governance Report 企業管治報告

3. Nomination Process

3.1. Nomination by the nomination committee

• 3.1.1 The nomination committee reviews the structure, size and composition (including the skills, knowledge and experience) of the Board periodically and makes recommendation on any proposed changes to the Board to complement the Company’s corporate strategy;

• 3.1.2 When it is necessary to fill a causal vacancy or appoint an additional director, the nomination committee identifies or selects candidates recommended to the committee, with or without assistance from external agencies or the Company, pursuant to the “Nomination Criteria” set out above;

• 3.1.3 If the process yields one or more desirable candidates, the nomination committee shall rank them by order of preference based on the needs of the Company and reference check of each candidate (where applicable);

• 3.1.4 The nomination committee makes recommendation to the Board including the terms and conditions of the appointment; and

• 3.1.5 The Board deliberates and decides on the a p p o i n t m e n t b a s e d u p o n t h e recommendation of the nomination committee.

3.2. Re-election of Director at Annual General Meeting

• 3.2.1 In accordance with the Company’s articles of association, every director shall be subject to retirement by rotation at least once every three years and shall be eligible for re-election at each annual general meeting;

• 3.2.2 The nomination committee shall review the overall contribution and service to the Company of the retiring director. The nomination committee shall also review the expertise and professional qualifications of the retiring director who offered himself/herself for re-election at the annual general meeting, to determine whether such director continues to meet the “Nomination Criteria” as set out above; and

3. 提名程序

3.1. 由提名委員會提名

• 3.1.1 提名委員會定期審閱董事會架 構、規模及組成（包括技能、 知識及經驗），並就董事會的 任何建議變動作出推薦建議， 以配合本公司的企業策略；

• 3.1.2 當需要填補臨時空缺或委任新 增董事時，提名委員會根據上 文所載的「提名準則」物色或挑 選委員會獲舉薦的候選人（可 尋求外部代理或本公司協助）；

• 3.1.3 倘過程選出一名或以上的理想 候選人，提名委員會將根據本 公司的需要及各候選人的資歷 查核（如適用），按優先次序排 列；

• 3.1.4 提名委員會向董事會作出包括 委聘條款及條件在內的推薦建 議；及

• 3.1.5 董事會根據提名委員會的推薦 建議商議及決定有關委聘。

3.2 於股東週年大會重選董事

• 3.2.1 根據本公司的組織章程細則， 每名董事須至少每三年輪值退 任一次，並有資格於各股東週 年大會上重選連任；

• 3.2.2 提名委員會將審閱退任董事對 本公司作出的整體貢獻及服 務。提名委員會亦將審閱願意 於股東週年大會重選連任的退 任董事的專長及專業資格，以 釐定該董事是否繼續符合上文 所載的「提名準則」；及

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Corporate Governance Report 企業管治報告

• 3.2.3 Based on the review made by nomination committee, the Board shall make recommendations to shareholders on candidates standing for re-election at the annual general meeting of the Company, and provide the available biographical information of the retiring director in accordance with the GEM Listing Rules to enable shareholders to make informed decisions on the re-election of such candidates at annual general meeting of the Company.

3.3 Nomination by Shareholders

The shareholders of the Company may propose a person for election as a director in accordance with the Memorandum and Articles of Association of the Company and applicable law. For more details, please refer to the section in Company’s website “Investor Relations — Corporate governance — Procedures for shareholders to propose a person for election as director”.

BOARD DIVERSITY POLICY

The Company has adopted a board diversity policy (the “Diversity Policy”) which sets out the approach to achieve diversity on the Board. The Company embraces the benefits of having a diverse Board to enhance the quality of its performance. Pursuant to the Diversity Policy, the Company seeks to achieve Board diversity through the consideration of a number of aspects, including (but not limited to) gender, regional and industry experience, skills, knowledge and educational background. All appointments of the Board members will be based on meritocracy, and candidates will be considered against objective criteria, having due regard for the benefits of diversity of the Board.

Current Board members have varied educational backgrounds and expertises, diverse perspectives and competencies in areas which are relevant and valuable to the Group, including accounting, corporate finance, strategic planning, business development and management. The Board currently has one female Director and six male Directors and the Board will take opportunities to increase the proportion of female members over time as and when suitable candidates are identified.

The Board places emphasis on diversity (including gender diversity) across all levels of the Group. The employee gender ratio of the Group as at 31 December 2025 is 27 males: 20 females. The Group when hiring employees considers a number of factors, including but not limited to gender, age, cultural and education background, qualification, ethnicity, professional experience, skills, knowledge and length of service, and the Group will ensure gender diversity is achieved across the workforce.

• 3.2.3 董事會將根據提名委員會的審 閱，就於本公司股東週年大會 上重選連任的候選人向股東作 出推薦建議，並根據GEM上市 規則提供退任董事的可得履歷 資料，以使股東能夠就該等候 選人於本公司股東週年大會上 重選連任作出知情決定。

3.3 由股東提名

本公司股東可根據本公司組織章程 大綱及細則及適用法律建議人士參 選董事。更多詳情，請參閱本公司 網站「投資者資訊 — 企業管治 — 股東提名人選參選董事的程序」一 節。

董事會成員多元化政策

本公司已採納董事會成員多元化政策（「多元化 政策」），其載有達至董事會成員多元化的方 法。本公司深信董事會成員多元化對提升本公 司的表現素質裨益良多。根據多元化政策，本 公司透過考慮多個範疇，包括（但不限於）性 別、地區及行業經驗、技能、知識及教育背景， 務求達致董事會成員多元化。全體董事會成員 委任乃基於用人唯才之準則，而為有效達致董 事會成員多元化，將按客觀條件考慮候選人。

現時董事會成員有不同教育背景和專業知識， 具備多元視野及於本集團相關及關鍵領域具有 相應的能力，包括會計、企業融資、戰略規劃、 業務發展及管理。董事會目前有一名女性董事 及六名男性董事，而董事會將把握機會，於日 後物色到合適的人選時，增加女性成員的比例。

董事會重視本集團所有層面之多元化（包括性 別多元化）。於二零二五年十二月三十一日，本 集團僱員的性別比例為27男：20女。本集團於 聘用僱員時會考慮多項因素，包括但不限於性 別、年齡、文化及教育背景、資格、種族、專業 經驗、技能、知識及服務年資，本集團將確保 在僱員層面達至性別多元化。

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圓美光電有限公司 2025 年報

Corporate Governance Report 企業管治報告

During the Year, the nomination committee has considered and reviewed the Diversity Policy and considered that the existing Diversity Policy is suitable and effective.

CORPORATE GOVERNANCE FUNCTION

The Company’s corporate governance function is carried out by the Board pursuant to a set of written terms of reference adopted by the Board, which include (a) developing and reviewing the Company’s policies and practices on corporate governance (including shareholders’ communication policy, board diversity policy and mechanism on independent views to the Board) and making recommendations to the Board; (b) reviewing and monitoring the training and continuous professional development of Directors and senior management of the Company and its subsidiaries; (c) reviewing and monitoring the Company’s policies and practices on compliance with legal and regulatory requirements; (d) developing, reviewing and monitoring the code of conduct and compliance manual (if any) applicable to employees and Directors and its subsidiaries; (e) reviewing the Company’s compliance with the CG Code and disclosures in the corporate governance report of the Company required to be prepared pursuant to the GEM Listing Rules; and (f) considering, reviewing and deciding any other topics as authorised by the Board.

During the Year, the Board reviewed and discussed the corporate governance policy of the Group and was satisfied with the effectiveness of its corporate governance policy.

ACCOUNTABILITY AND AUDIT

Directors’ and auditor’s responsibilities for the consolidated financial statements

All Directors acknowledge their responsibility to prepare the Group’s consolidated financial statements for each financial period to give a true and fair view of the state of affairs of the Group and of the results and cash flows for that period and are in compliance with the relevant accounting standards and principles, applicable laws and disclosure provisions as required under the GEM Listing Rules. The Directors are of the view that the Group’s consolidated financial statements for each financial period have been prepared on these bases.

The Directors are aware that during the Year, the Group recorded a loss for the year of HK$13,333,000 and had a net cash outflow from operating activities of HK$11,833,000. As at 31 December 2025, the Group‘s net current assets position was HK$26,833,000 with only cash and cash equivalents of HK$18,244,000. The Group experienced recurring losses and multiple challenges from frequent changes in market demands and external macroenvironment which pose negative impact on the Group’s sales performance.

於本年度內，提名委員會已考慮及檢討多元化 政策，並認為現有的多元化政策為合適及有效。

企業管治職能

董事會根據其所採納的書面職權範圍履行本公 司的企業管治職能，有關職權範圍包括(a)制定 及檢討本公司的企業管治政策及常規（包括股 東溝通政策，董事會成員多元化政策及董事會 獨立意見機制），並向董事會提出建議；(b)制定 及檢討本公司及其附屬公司的董事和高級管理 層的培訓及持續專業發展；(c)檢討及監察本公 司在遵守法律及監管規定方面的政策及常規； (d)制定、檢討及監察適用於本公司及其附屬公 司僱員及董事的操守準則及合規手冊（如有）； (e)檢討本公司遵守企業管治守則情況及本公司 須根據GEM上市規則編製的企業管治報告之披 露；及(f)考慮、檢討及決定董事會批准的任何其 他主題。

於本年度內，董事會已審閱及討論本集團的企 業管治政策，並信納其企業管治政策的成效。

問責性及審核

董事及核數師對綜合財務報表的責任

所有董事均確認其有責任就每一個財政期間編 製本集團綜合財務報表，以真實公平地反映本 集團的事務狀況及於該期間的業績及現金流 量，且符合相關會計準則及原則、適用法例以 及GEM上市規則規定之披露條文。董事認為， 本集團各財政期間之財務報表均已按有關基準 編製。

董事知悉於本年度，本集團錄得年度虧損 13,333,000港元及經營活動淨現金流出 11,833,000港元。於二零二五年十二月三十一 日，本集團之淨流動資產為26,833,000港元，而 現金及現金等價物僅為18,244,000港元。本集團 經歷持續虧損及面對市場需求頻繁變化及外圍 宏觀環境的多重挑戰，對本集團的銷售表現產 生負面影響。

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Corporate Governance Report 企業管治報告

The above conditions indicate the existence of a material uncertainty which may cast significant doubt about the ability of the Group to continue as a going concern. The Board has assessed the appropriateness of adopting the going concern basis for the preparation of the consolidated financial statements for the year ended 31 December 2025. In order to improve the Group’s liquidity and financial position, the Group has been implementing various measures as follows:

• (i) the Group will continue to dispose of its financial asset at FVTPL with a carrying amount of HK$9,911,000 as at 31 December 2025 within a certain period;

• (ii) the Group will continue to take initiatives to implement cost control measures, including adjusting human resources;

• (iii) the Group will continue to implement plans and measures to improve the sales of the Group so as to generate operating cash inflow; and

• (iv) the Group will continue its efforts to implement measures to strengthen its operating cash flows and working capital position, including not commencing any significant capital expenditure programmes in the near term.

The Board has reviewed the Group’s cashflow forecast prepared by management which covers a period of not less than twelve months from 31 December 2025. The Board, after making due enquiries and considering the basis of management’s cashflow forecast described above and after taking into account the reasonably possible changes in the operation performance of the Group, believes there will be sufficient financial resources available to the Group for at least twelve months after 31 December 2025 to meet its financial obligations as and when they fall due. Accordingly, the Board considers that it is appropriate to prepare the consolidated financial statements on a going concern basis.

Notwithstanding the above, a material uncertainty exists as to whether management of the Group is able to achieve its plans and measures as described above. Whether the Group will be able to continue as a going concern would depend upon the Group’s ability to generate adequate cash flows through achieving the below plans and measures:

• (i) Successful disposal of its financial asset at FVTPL within a certain period and at a reasonable price to generate the cash flow as planned;

• (ii) Successful implementation of the plans and measures to improve the sales of the Group so as to generate operating cash inflow; and

上述狀況表明存在重大不確定性，其可能會對 本集團持續經營的能力構成重大疑慮。董事會 已評估採用持續經營基礎編製截至二零二五年 十二月三十一日止年度綜合財務報表的適當 性。為改善本集團的流動資金和財務狀況，本 集團已實施以下各項措施：

• (i) 本集團將持續於若干期間內出售其於二零 二五年十二月三十一日賬面值為 9,911,000港元的按公允價值計入損益之 金融資產；

• (ii) 本集團將持續積極實施成本控制措施，包 括調整人力資源；

• (iii) 本集團將持續實施計劃及措施以改善本集 團之銷售，從而產生經營性現金流入；及

• (iv) 本集團將繼續努力採取措施，加強其營運 現金流量和營運資金狀況，包括在近期內 不啟動任何重大資本開支計劃。

董事會已審閱了管理層編製的本集團現金流預 測，該預測涵蓋自二零二五年十二月三十一日 起不少於十二個月的期間。董事會經作出適當 查詢及考慮上述管理層現金流預測的基礎及計 及本集團經營表現的合理可能變動後，相信於 二零二五年十二月三十一日後的最少十二個月 內，本集團將具備足夠的財務資源以履行其到 期的財務責任。因此，董事會認為以持續經營 基礎編製綜合財務報表乃屬適當。

儘管如此，本集團管理層是否能夠實現其上述 的計劃和措施存在重大不確定性。本集團能否 持續經營取決於本集團透過實現以下計劃和措 施產生充足現金流的能力：

• (i) 成功於若干期間內以合理價格出售其按公 允價值計入損益之金融資產以產生按計劃 的現金流；

• (ii) 成功實施計劃及措施提升本集團的銷售， 從而產生經營性現金流入；及

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Corporate Governance Report 企業管治報告

• (iii) Successful implementation of measures to control operating costs and not commencing any significant capital expenditure programmes in the near term, so as to improve the Group’s cash flow position.

The audit committee had reviewed the “Material Uncertainty Related to Going Concern” section in the independent auditor’s report (the “Independent Auditor’s Report”) attached to the Company’s consolidated financial statements for the year ended 31 December 2025 in this annual report, the Group’s financial position, the management’s cashflow forecast and the measures implemented by the Group to address the issue. The audit committee is in agreement with the management of the Company with respect to the Group’s ability to continue as a going concern, the adoption of going concern basis in preparing the consolidated financial statements, as well as the measures implemented by the Group.

The responsibilities of the external auditors in financial reporting are set out in the Independent Auditor’s Report.

• (iii) 成功採取措施控制經營開支，以及近期內 不啟動任何重大資本開支計劃，從而改善 本集團的現金流狀況。

審核委員會已審閱載於獨立核數師報告（「獨立 核數師報告」，其附於本年報內的本公司截至二 零二五年十二月三十一日止年度綜合財務報表） 的「與持續經營有關的重大不確定性」部分、本 集團的財務狀況、管理層的現金流預測及本集 團就化解該問題實施的措施。審核委員會認同 本公司管理層對本集團持續經營的能力，採用 持續經營基準編製綜合財務報表，以及本集團 實施的措施。

外聘核數師對財務匯報的責任載於獨立核數師 報告。

AUDITOR’S REMUNERATION

For the Year, the remuneration paid or payable to PricewaterhouseCoopers in respect of audit and non-audit services provided is set out below:

核數師酬金

本年度，就所提供的審計及非審計服務已付或 應付予羅兵咸永道會計師事務所的酬金載列如 下：

services provided is set out below:	下：
		Remuneration
Services rendered		paid/payable
所提供服務		已付╱應付酬金
		HK$’000
		千港元
Audit services	審計服務	875
Non-audit services	非審計服務
— agreed-upon procedures	—商定程序	10
— tax compliance services	—稅務合規服務	88
Total	總計	973

RISK MANAGEMENT AND INTERNAL CONTROL SYSTEMS

The Board acknowledges its responsibility to maintain an effective risk management and internal control systems in order to safeguard the Group’s assets and investments and the shareholders’ interest. The Board oversees the overall risk management of the Group and endeavors to identify, control impact of the identified risks and facilitate implementation of coordinated mitigating measures. Such risk management and internal control systems are designed to manage rather than eliminate the risk of failure to achieve business objectives, and can only provide reasonable and not absolute assurance against material misstatement or loss.

風險管理及內部監控系統

董事會清楚維持有效的風險管理及內部監控系 統的責任，以保障本集團的資產及投資以及股 東利益。董事會監督本集團的整體風險管理， 並力求識別及控制已知風險的影響，促進執行 協調緩解措施。該風險管理及內部監控系統旨 在管理而非消除未能達成業務目標的風險，而 且只能就不會有重大的失實陳述或損失作出合 理而非絕對的保證。

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Corporate Governance Report 企業管治報告

The Group has established a risk management policy setting out the process of identification, evaluation and management of the principal risks affecting the business. Each division is responsible for identifying, assessing and managing risks within its divisions, identifying and assessing the principal risks (including environmental, social and governance risks) on a half-yearly basis with mitigation plans to manage those risks. The management is responsible for overseeing the risk management and internal control activities of the Group, attending halfyearly meetings with each division to ensure principal risks are properly managed and new or changing risks are identified and documented. Lastly, the Board is responsible for reviewing and approving the effectiveness and adequacy of the Group’s risk management and internal control systems.

The risk management framework, coupled with the Group’s internal controls, ensure that the risks associated with different divisions are effectively controlled in line with the Group’s risk appetite.

The risk management report was submitted to the audit committee and the Board for review.

Given the Group’s size and relatively simple corporate structure, the Group does not have an internal audit function within itself. Nevertheless the Company engaged an external consultant, CT Partners Consultants Limited (“CT Partners”), to carry out internal audit function and had during the Year conducted review of the effectiveness of the Group’s risk management and internal control systems. The review covered, inter alia, the internal control systems over the purchase, payment and payable, and human resources and payroll cycles of the G r o u p , a n d t h e e x t e r n a l c o n s u l t a n t m a d e recommendations for improving the Group’s internal control systems. The internal control review report was submitted to the audit committee and the Board for review. The audit committee has requested the management to follow up with the recommendations of the external consultant to remedy control issues identified and to further improve the Group’s internal control system.

The Company has adopted the following internal control measures:

• (a) The officers of the Group will cross check the counterparty with the list of connected persons updated on a monthly basis to identify potential connected transaction.

本集團已建立風險管理政策，列明影響業務的 主要風險之識別、評估及管理程序。各部門負 責識別、評定及管理內部風險，每半年定期識 別及評定主要風險（包括環境、社會及管治風 險），並設計減緩風險計劃以控制有關風險；管 理層負責監督本集團的風險管理及內部監控活 動，每半年與各部門進行會議，藉此確保主要 風險得到妥善管理，而新增或變化中的風險已 得到識別且記錄在案。最後，董事會負責審閱 及核准本集團風險管理及內部監控系統的有效 性及足夠性。

風險管理框架，連同本集團的內部監控，確保 與不同部門有關的風險得到有效控制至與本集 團的風險承受能力一致。

風險管理報告已呈交予審核委員會及董事會以 供審閱。

• 鑒於本集團的規模及企業架構相對簡單，本集 團並無內部審核職能部門。然而，本公司聘用 外部顧問CT Partners Consultants Limited

• （「 CT Partners 」）以進行擬定審核職能，於本年 度已對本集團的風險管理及內部監控系統成效 進行檢討。有關檢討涵蓋（其中包括）本集團採 購、付款及應付賬款，以及人力資源及薪資週 期的內部監控系統，而外聘顧問就改善本集團 的內部監控系統作出推薦意見。內部監控檢討 報告已呈交予審核委員會及董事會，以供審 閱。審核委員會已要求管理層跟進外部顧問作 出的推薦意見，以補救已知的監控問題及進一 步改善內部監控系統。

本公司已採納以下內部監控措施：

• (a) 本集團的高級人員將按每月更新的關連人 士名單，核對交易對手，識別潛在關連交 易。

33

圓美光電有限公司 2025 年報

Corporate Governance Report 企業管治報告

• (b) A material transactions authorisation policy and procedures (the “Policy”), which include (i) implementing additional authorisation procedures by setting different thresholds on the amount of all transactions with specific authorisation requirements; (ii) preparing monthly reports with details of the transactions above certain thresholds for the Board and the audit committee’s review to identify if there is any irregularity or doubtful transaction; and (iii) providing ad hoc training to the Group employees to ensure they are familiar with the Policy. During the Year, the Company has engaged CT Partners, an independent internal control consultant, to evaluate the effectiveness and review the implementation and enforcement of the Policy.

The Board has the overall responsibility to maintain the adequacy of resources, staff qualifications and experience, training programs and budget of accounting and financial reporting functions. After having conducted a review of the effectiveness of the risk management and internal control systems, the Board has reached the conclusion that the Group’s risk management and internal control systems were in place, effective and adequate. The Board will review and assess the risk management and internal control systems at least once a year.

The Company has established a whistle-blowing policy and system for employees of the Group to raise concerns about possible improprieties in financial reporting, internal control and other matters. No significant areas of concern that may affect the financial, operational, compliance, controls and risk management of the Group have been identified.

With respect to the monitoring and disclosure of inside information, the Company has adopted a policy on disclosure of inside information, with an aim to ensure that the insiders abide by the confidentiality requirement and fulfill the disclosure obligation of inside information. The policy describes clearly the decision trees to identify inside information and take necessary actions. Employees and other relevant parties are required to keep inside information in strict confidence. The Group is committed to ensure that information contained in announcements are not false or misleading, or false or misleading through omission of a material fact in view of presenting information in a clear and balanced way, which requires equal disclosure of both positive and negative facts.

• (b) 重大交易授權政策及程序（「政策」），包括 (i)就所有有特定授權要求的交易金額設定 不同的門檻，以實施額外的授權程序；(ii) 每月編製報告，載有高於特定門檻的交易 詳情，供董事會及審核委員會審閱，以確 定是否有任何違規或可疑交易；及(iii)向本 集團僱員提供特別培訓，以確保彼等熟悉 政策。於本年度，本公司已委聘獨立內部 監控顧問CT Partners評估政策的成效及檢 討其實施及執行情況。

董事會對維持充足的資源、員工資歷及經驗、 培訓項目、會計及財務報告職能預算負有全 責。對風險管理及內部監控系統的有效性進行 檢討後，董事會已達成結論，本集團已建立有 效及足夠的風險管理及內部監控系統。董事會 每年至少進行一次風險管理及內部監控系統之 評估。

本公司已為本集團僱員訂立一項舉報政策及系 統以識別有關財務報告、內部監控及其他事宜 之潛在不當行為。概無識別可能影響本集團財 務、營運、合規、監控及風險管理的重要關注 事項。

有關內幕消息之監視及披露，本公司已採納內 幕消息披露政策，旨在確保內部人士遵守保密 要求，並履行內幕消息的披露責任。政策清晰 載述辨別內幕消息及採取所需採取行動之決策 樹。僱員及其他相關方須對內幕消息嚴謹保 密。本集團亦致力確保公告中所載的資料不屬 虛假或具誤導性，或因遺漏某事關重要的事實 而屬虛假或具誤導性，以清晰和均衡的方式披 露正反兩面的事實。

34

Perfect Optronics Limited Annual Report 2025

Corporate Governance Report 企業管治報告

COMMUNICATIONS WITH SHAREHOLDERS AND INVESTORS

The Company aims to provide its shareholders and investors with high standards of disclosure and financial transparency. The Board is committed to providing clear and detailed information of the Group to its shareholders in a timely manner and on a regular basis, through the publication of interim and annual reports and/or dispatching circulars, notices, and other announcements.

The general meetings of the Company provide a forum for communication between the Board and the Company’s shareholders. The Chairman of the Board and other members of the respective committees are available to answer questions from the shareholders at the general meeting. The Company recognises the importance of maintaining on-going communications with the shareholders and encourages them to attend general meetings to stay informed of the Group’s businesses and convey any concerns they may have to the Directors and senior management.

T h e C o m p a n y m a i n t a i n s a w e b s i t e a t http://www.perfect-optronics.com where extensive information and updates on the Company’s financial information, corporate governance practices and other useful information are posted and available for access by the public investors.

2025 General meetings

At the extraordinary general meeting held on 21 January 2025 approving the disposal mandate of shares of Mobvoi Inc. which is a possible very substantial disposal under the GEM Listing Rules. The then chairman of the Board and all Directors attended the extraordinary general meeting to ensure effective communication with shareholders of the Company.

At the annual general meeting held on 12 June 2025, separate resolutions were proposed by the acting Chairman in respect of each separate issue, including the re-election of directors and voted by way of poll. The Company announced the results of the poll in the manner prescribed under the GEM Listing Rules. The then chairman of each of the Board, audit committee, remuneration committee and nomination committee attended the annual general meeting held in 2025 to ensure effective communication with shareholders of the Company. All Directors attended the annual general meeting held in 2025.

與股東及投資者的溝通

本公司旨在向其股東及投資者提供高水平的披 露及財政透明度。董事會致力透過刊發中期及 年度報告及╱或寄發通函、通知及其他公告， 及時及定期為股東提供清晰詳盡有關本集團的 資訊。

本公司的股東大會為董事會與本公司股東提供 溝通平台。董事會主席及各委員會的其他成員 將出席股東大會以解答股東提問。本公司明白 與股東維持溝通的重要性，並鼓勵股東出席股 東大會，以得到關於本集團業務的資訊，並向 董事及高級管理層提出彼等的關注。

本 公 司 設 有 網 站（網 址 為 http://www.perfect-optronics.com ），網站內載 有大量資訊，亦有關於本公司財務資料、企業 管治常規及其他有用資料的更新資訊，可供公 眾投資者查閱。

二零二五年股東大會

於二零二五年一月二十一日舉行之股東特別大 會，批准有關出門問問有限公司股份之出售授 權（一項GEM上市規則下可能進行的非常重大 出售事項）。當時的董事會主席和所有董事均已 出席了股東特別大會，以確保與本公司股東進 行有效的溝通。

於二零二五年六月十二日舉行之股東週年大會 上，代理主席就各獨立事項，包括重選董事， 提呈獨立決議案，並以投票方式表決。本公司 根據GEM上市規則規定之方式宣佈投票結果。 各時任董事會、審核委員會、薪酬委員會及提 名委員會主席已出席二零二五年舉行的股東週 年大會，確保與本公司股東作出有效溝通。所 有董事均已出席於二零二五年舉行的股東週年 大會。

35

圓美光電有限公司 2025 年報

Corporate Governance Report 企業管治報告

The attendance of individual Directors at general meetings 個別董事出席股東大會會議之情況如下： were as follows:

		Number of
		general meetings
Name		attended/held
		出席╱舉行股東
姓名		大會會議次數
Executive Directors:	執行董事：
Mr. Cheng Wai Tak	鄭偉德先生	2/2
Mr. Liu Ka Wing	廖嘉榮先生	2/2
Mr. Tse Ka Wing	謝家榮先生	2/2
Mr. Chang Huan Chia	張桓嘉先生	2/2
Independent non-executive Directors:	獨立非執行董事：
Mr. Kan Man Wai	簡文偉先生	2/2
Ms. Hsu Wai Man Helen	徐慧敏女士	2/2
Mr. Lau Ngai Kee Ricky	劉毅基先生	2/2

The Board reviewed the validity of implementation of the shareholders’ communication policy of the Company during the Year and considered that it remained effective in enhancing timely, transparent, accurate and open communication between the Company and its shareholders.

董事會檢討於本年度內實施本公司股東通訊政 策的有效性，認為該政策在加強本公司與其股 東之間及時、透明、準確和公開的溝通方面仍 然有效。

SHAREHOLDERS’ RIGHTS

股東權益

Procedures for shareholders to convene an

extraordinary general meeting and to put forward proposal at general meetings

Pursuant to Article 64 of the articles of association of the Company, the Board may, whenever it thinks fit, convene an extraordinary general meeting. Extraordinary general meetings shall also be convened on the requisition of one or more shareholders holding, at the date of deposit of the requisition, not less than one-tenth of the paid up capital of the Company with voting rights in the general meetings attached thereto. Such requisition shall be made in writing to the Board or the company secretary of the Company (the “Company Secretary”) for the purpose of requiring an extraordinary general meeting to be called by the Board for the transaction of any business specified in such requisition. Such meeting shall be held within 2 months after the deposit of such requisition. If within 21 days of such deposit, the Board fails to proceed to convene such meeting, the requisitionist(s) himself (themselves) may do so in the same manner, and all reasonable expenses incurred by the requisitionist(s) as a result of the failure of the Board shall be reimbursed to the requisitionist(s) by the Company.

股東召開股東特別大會及於股東大會上提呈建 議的程序

根據本公司組織章程細則第64條，董事會可在 其認為適當的任何時候召開股東特別大會。倘 一名或多名於提交請求日期合共持有不少於本 公司有權於股東大會上投票的繳足資本十分之 一的股東提交請求，亦可召開股東特別大會。 該請求須以書面形式向本公司董事會或本公司 秘書（「公司秘書」）提交，以要求董事會召開股 東特別大會，處理該請求所註明的任何事項。 該會議須於提交該請求後兩個月內舉行。倘董 事會未能於提交該請求後21天內召開該會議， 則請求人可自行以同樣方式召開會議，而請求 人因董事會未能召開會議而產生的所有合理開 支將由本公司向請求人作出補償。

36

Perfect Optronics Limited Annual Report 2025

Corporate Governance Report 企業管治報告

Article 113 of the articles of association of the Company provides that no person other than a retiring Director, shall, unless recommended by the Board for election, be eligible for election to the office of Director at any general meeting, unless notice in writing of the intention to propose that person for election as a Director and notice in writing by that person of his willingness to be elected shall have been lodged at the head office or at the registered office. The period for lodgment of the notices required under this Article will commence no earlier than the day after the despatch of the notice of the general meeting appointed for such election and end no later than 7 days prior to the date of such general meeting and the minimum length of the period during which such notices to the Company may be given will be at least 7 days. The written notice must state that person’s biographical details as required by Rule 17.50(2) of the GEM Listing Rules. The procedures for shareholders of the Company to propose a person for election as director is posted on the Company’s website.

SHAREHOLDERS’ ENQUIRIES TO THE BOARD

Shareholders may send their enquiries and concerns to the Board by addressing them to the Company Secretary by mail to the principal office of the Company in Hong Kong. The Company Secretary forwards communications relating to matters within the Board’s purview to the Board and communications relating to ordinary business matters, such as suggestions, inquiries and complaints, to the executive Directors.

Shareholders may also make enquiries with the Board at the general meetings of the Company.

COMPANY CULTURE

The Board plays a leading role in defining the purpose, values and strategies of the Company, and aligning them with the culture of the Company. The Board sets the tone and shapes the company culture of the Company, which is instilled and continuously reinforced by the core values of acting lawfully, ethically and responsibly across all levels of the Company. The Company endeavours to act responsibly and maintain accountability to its employees, shareholders, other stakeholders, as well as the community. The Company’s purpose, values and strategies form the foundations of the culture of the Company, which adheres to strong ethical values and strives for sustainable development.

WHISTLEBLOWING POLICY

The Company has adopted a whistleblowing policy to provide guidance to employees and external stakeholders to report concerns about any suspected or actual improprieties relating to the Group.

根據本公司組織章程細則第113條，除非獲董事 會推薦參選，否則除會上退任董事外，概無任 何人士合資格於任何股東大會上參選董事，除 非表明有意提名該人士參選董事的書面通知， 以及該人士表明其願意參選的書面通知，遞交 至總部或註冊辦事處。根據此細則，發出通知 的期間將不早於寄發舉行有關選舉的股東大會 的通告翌日開始，亦不得遲於該股東大會舉行 日期前7日結束，而向本公司發出該通知的期間 須最少為7日。根據GEM上市規則第17.50(2)條 所規定，該書面通知必須註明該名人士的個人 資料。有關本公司股東提名人選參選董事之程 序已於本公司網站刊載。

股東向董事會的查詢

股東可向董事會提出彼等的查詢及疑問，方法 為郵寄至本公司的香港主要辦事處，註明收件 人為公司秘書。公司秘書會將與董事會負責之 事宜有關的通訊轉交董事會，而有關日常業務 事宜之通訊（例如建議、查詢及投訴）則會轉交 執行董事。

股東亦可於本公司股東大會上向董事會作出查 詢。

公司文化

董事會在界定本公司的目的、價值及策略方面 發揮主導作用，並使彼等與本公司文化保持一 致。董事會為本公司之公司文化定下基調及制 定形式，通過在本公司各個層面以合法、合乎 道德及肩負責任之方式行事的核心價值灌輸及 不斷加強本公司文化。本公司致力以盡責的方 式行事，並保持對其僱員、股東、其他持份者 以及社區負責。本公司的目的、價值及策略為 本公司文化奠下基礎，恪守崇高的道德價值並 盡力實現可持續發展。

舉報政策

本公司已採納一項舉報政策，為僱員及外部持 份者提供指引，以報告任何有關本集團的可疑 或實際不當行為。

37

圓美光電有限公司 2025 年報

Corporate Governance Report 企業管治報告

MECHANISM ON INDEPENDENT VIEWS TO THE BOARD

The Board has adopted effective mechanisms to ensure independent views and input are available to the Board. Subject to approval of the Chairman of the Board, Directors may seek, at the Company’s expense, independent legal, financial or other professional advices from advisors independent to those advising the Company as and when necessary in appropriate circumstances to enable them to discharge their responsibilities effectively. The Board will review the implementation and effectiveness of such mechanisms on an annual basis.

The Board reviewed the validity of implementation of such mechanisms during the Year and considered that such mechanisms are effective.

DIVIDEND POLICY

Under the Companies Act of Cayman Islands and the Memorandum and Articles of Association of the Company, dividends may be paid out of the profits of the Company, or subject to solvency of the Company, out of sums standing to the credit of the share premium account of the Company. However, no dividend shall exceed the amount recommended by Directors.

Declaration and recommendation of payment of dividends of the Company is subject to the approval of the Directors, depending on results of operations, working capital, financial position, future prospects, and capital requirements, as well as any other factors which the Directors may consider relevant from time to time. Any future declaration, recommendation and payment of dividends of the Company may or may not reflect the historical declarations and payments of dividends and will be at the absolute discretion of the Directors. The Company does not have any predetermined dividend payout ratio.

COMPANY SECRETARY

The Company Secretary, Mr. Tse Ka Wing (“Mr. Tse”), is an employee of the Company. He was appointed as an executive Director with effect from 26 March 2015. He reports to the acting Chairman and is responsible for advising the Board on corporate governance matters. The biographical details of Mr. Tse are set out under the section headed “Biographical Details of Directors and Senior Management”.

During the Year, Mr. Tse has undertaken not less than 15 hours of relevant professional training in accordance with Rule 5.15 of the GEM Listing Rules.

CONSTITUTIONAL DOCUMENTS

During the Year, there was no change to the Company’s constitutional documents.

向董事會發表獨立意見之機制

董事會已採納有效機制，以確保向董事會提供 獨立意見及建議。經董事會主席批准，在適當 情況下，董事可在必要時向獨立於向本公司提 供諮詢的顧問尋求獨立的法律、財務或其他專 業諮詢，以使彼等能有效地履行其職責，費用 由本公司承擔。董事會將每年檢討有關機制的 實行及有效性。

董事會檢討於本年度內實施有關機制的有效 性，認為有關機制有效。

股息政策

根據開曼群島公司法及本公司組織章程大綱及 細則，股息可由本公司溢利中撥付，或於本公 司有力償還債務的情況下，由本公司股份溢價 賬的進賬額撥付。然而，概無股息可超過董事 所建議的金額。

宣派及推薦派付本公司股息須得到董事批准， 視乎營運業績、營運資金、財務狀況、未來前 景及資本要求以及董事不時可能認為相關的任 何其他因素。未來宣派、推薦及派付任何本公 司股息，未必是過往所宣派及派付的股息的反 映，並將由董事全權酌情決定。本公司並無任 何預定派息比率。

公司秘書

公司秘書謝家榮先生（「謝先生」）為本公司僱 員。彼於二零一五年三月二十六日起獲委任為 執行董事。彼向代理主席匯報，負責就企業管 治事項向董事會提出建議。謝先生的個人資料 載列於「董事及高級管理層個人資料」一節。

於本年度內，謝先生按照GEM上市規則第5.15 條進行不少於15小時的相關專業培訓。

憲章文件

於本年度內，本公司之憲章文件概無變動。

38

Perfect Optronics Limited Annual Report 2025

Environmental, Social and Governance Report 環境、社會及管治報告

ABOUT THE REPORT

關於本報告

This is the tenth consecutive Environmental, Social and Governance (“ESG”) report of the Company, providing detailed information about its performance and management approach toward the relevant issues. It covers all topics that may have a significant impact on the society and environment.

本報告為本公司連續發佈的第十份環境、社會 及管治（「環境、社會及管治」）報告，提供有關 其在相關事宜上的表現及管理方針的詳細資 料，當中涵蓋所有可能對社會及環境造成重大 影響的議題。

Reporting Guide

報告指引

This ESG report complies with the ESG Reporting Code set out in Appendix C2 of the Rules Governing the Listing of Securities on GEM of The Stock Exchange of Hong Kong Limited (the “Stock Exchange”). Reporting principles of materiality, quantitative, balance and consistency stipulated in the ESG Reporting Code have been followed in preparation of this report.

本環境、社會及管治報告遵守香港聯合交易所 有限公司（「聯交所」）的GEM證券上市規則附錄 C2所載之環境、社會及管治報告守則。我們在 編製本報告時已遵守環境、社會及管治報告守 則所述之重要性、量化、平衡及一致性報告原 則。

Reporting Boundary and Period

報告範圍及期限

This report covers management approach and quantitative performance in respect of material ESG topics for the year from 1 January 2025 to 31 December 2025 of the entire Group. The Company’s annual report also provides additional information about our sustainability performance, in addition to financial information and data.

本報告涵蓋整個集團於二零二五年一月一日至 二零二五年十二月三十一日止年度有關重大環 境、社會及管治議題之管理方針及量化表現。 除財務資料及數據外，本公司的年報還提供有 關我們可持續表現的若干補充資料。

ESG MANAGEMENT AND RISK OVERSIGHT

環境、社會及管治管理及風險監控

Board Statement

董事會聲明

Principal business activities of group companies are trading, development and sale of display and optics products and related electronic components, as well as trading of health-related and other products.

集團公司的主要業務活動為顯示及光學產品及 相關電子部件的貿易、開發及銷售，以及健康 相關及其他產品的貿易。

The board of directors of the Company (the “Board”) assumes the ultimate responsibility of integrating material ESG issues with its business operations. The ESG working group has been set up for taking stock of progress towards sustainability every quarter and reporting to the Board, which takes final decisions about ongoing work as well as future plans.

本公司董事會（「董事會」）承擔將重大環境、社 會及管治議題納入其業務營運的最終責任。環 境、社會及管治工作小組已經成立，以在每季 評估可持續發展的進度並向董事會匯報，而董 事會則就目前的工作以及未來計劃作出最終決 定。

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圓美光電有限公司 2025 年報

Environmental, Social and Governance Report 環境、社會及管治報告

ESG-related risks are regularly identified to develop appropriate strategies and prioritise them based on the likelihood of happening and potential consequences. The Board conducts half-yearly reviews of these risks. Additionally, an external consultant is also engaged to assess the overall risk annually and provide recommendations for remedial measures.

我們會定期識別環境、社會及管治相關風險， 以便制定適當的策略及根據相關風險發生的機 率和可能的後果，分配優次。董事會每半年檢 視此等風險。此外，我們亦委聘外部顧問，每 年評估整體風險及建議補救措施。

The Group establishes ESG performance targets that consider both sustainability and financial requirements and capabilities. The progress towards these targets is presented to the Board on a half-yearly basis. The Board recognises its duty to uphold the credibility of this ESG report and confirms that it has reviewed and approved the report.

本集團在訂立環境、社會及管治表現目標時會 考慮可持續發展與財務需要及能力，並每半年 向董事會呈報目標進度。董事會明白其有責任 維護本環境、社會及管治報告的可信性，並確 認其已檢視及批准報告。

ESG Policy

環境、社會及管治政策

We remain committed to addressing sustainability concerns comprehensively and have implemented an ESG policy that encompasses operations, environmental considerations and social aspects. This policy serves as our guiding principle, allowing the Group to achieve positive outcomes for its stakeholders, including employees, suppliers, customers, and the community. When making decisions about operations and strategies, we actively take into account environmental and social factors to enhance our ESG performance. The integration of our ESG policy into the decision-making process facilitates this improvement.

我們始終致力於全面解決可持續發展問題，並 實施了一項涵蓋營運、環境考量及社會層面的 環境、社會及管治政策。該政策作為我們的指 導原則，讓本集團能為持份者（包括員工、供應 商、客戶及社區）創造理想成果。在就營運及策 略作出決定時，我們積極考慮環境及社會因 素，以加強我們的環境、社會及管治表現。將 環境、社會及管治政策納入我們的決策過程， 有助推動相關改進。

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Environment People Operation
環境 員工 營運
• Conserve resources • Protect employee rights • Monitor suppliers’
保護資源 保障員工權利 sustainability performance
監察供應商的可持續表現
• Raise employees’ • Provide training opportunities
environmental awareness 提供培訓機會 • Ensure the procurement
提高僱員環保意識 process and contractual
• Create a safe and healthy arrangement are transparent
• Advocate green office working environment and fair
initiatives 打造安全及健康的工作環境 確保採購過程及合約安排透
提倡綠色辦公室 明及公平
• Support the community
• Adopt green procurement through donations
practices 以捐贈支持社區
執行綠色採購
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Stakeholder Engagement

The Group acknowledges the significant role that stakeholders play in achieving success and sustainability. Among the Group’s stakeholders are shareholders and i n v e s t o r s , e m p l o y e e s , c u s t o m e r s , s u p p l i e r s , sub-contractors, government and the community. Effective communication channels are employed to engage these stakeholders and comprehend their specific concerns. The following outlines our stakeholder groups and their respective engagement channels.

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Shareholders and Investors 股東和投資者

• Annual general meeting 股東週年大會

• Corporate reporting 企業報告

持份者參與

本集團明白持份者在取得成功及可持續發展方 面所發揮的重要作用。本集團的持份者包括股 東及投資者、員工、客戶、供應商及分包商、政 府及社區。我們已向該等持份者採用有效的溝 通渠道並了解彼等之關注事項。下文概述我們 的持份者組別及各自的溝通渠道。

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Employees 僱員

• Reporting channels 報告渠道

• Meetings

• 會議

• Training

• 培訓

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Customers 客戶

• Grievance channels 申訴渠道

• Surveys 問卷

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Suppliers 供應商

• Regular meetings 定期會議

• Supplier screening and assessment

• 供應商篩選及評估

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The Government 政府

• Compliance with laws and regulations

• 遵守法律及法規

• Response to government policies

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Community

社區

• Donations 捐款

• Community activities 社區活動

• 響應政府政策

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Materiality Assessment

In 2023, we undertook a materiality assessment with the assistance of an independent consultant, using an online survey. As per management’s evaluation, we determined that the results of this assessment are still applicable for this reporting year. The assessment involved identification, prioritisation, validation and review of various ESG topics. The Board has thoroughly reviewed the identified topics and affirmed their significance and relevance to the Group, as well as their impact on the economy, environment and the community. Actions taken and progress made in respect of each material topic are reviewed by the Board and incorporated into the Group’s ESG management strategy.

Seven material topics were identified, as listed in alphabetical order below:

1. Anti-corruption

2. Customer Satisfaction

3. Customer Service

4. Diversity and Equal Opportunity

5. Employee Communication

6. Product Quality Management

7. Supply Chain Management

重要性評估

於二零二三年，我們在獨立顧問的協助下，利 用線上調查進行了重要性評估。經管理層評 估，我們確定該評估結果依舊適用於本報告年 度。該評估涉及多項環境、社會及管治議題的 識別、優先排序、核證及審查。董事會已仔細 審查所識別的議題，並確認該等議題對本集團 的重要性及相關性，以及對經濟、環境及社區 的影響。就各重大議題所採取的行動及取得的 進展皆由董事會進行審查，並納入本集團的環 境、社會及管治管理策略。

已識別七個重大議題，並按英文字母順序排 列︰

1. 反貪污

2. 客戶滿意度

3. 客戶服務

4. 多元化與平等機會

5. 員工溝通

6. 產品質量管理

7. 供應鏈管理

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ESG Risk Management

環境、社會及管治風險管理

A risk management plan has been put in place, based on the identified potential ESG risks, to prevent risks from materialising. The Board, along with the concerned departments, takes responsibility for minimising the impact. The risks identified by the Group and actions taken are listed in the table below:

我們已根據識別出的潛在環境、社會及管治風 險，實施風險管理計劃，以防止風險發生。董 事會連同相關部門就減輕影響承擔責任。本集 團已識別的風險及採取的行動載列於下表︰

Material Topics	ESG-related Risks	Action Taken
重大議題	環境、社會及管治相關風險	所採取的行動
Anti-corruption	• Any breach of regulatory rules may	• Have an effective Anti-Fraud
反貪污	affect the business and reputation	Management System in place
	of the Group	已實施有效的反欺詐管理系統
	違反監管規則可能影響本集團的業	• The Code of Conduct must be
	務及聲譽	signed by all employees
	• Lack of a culture of integrity in the	全體員工都須簽署操守準則
	organisation may lead to potential	• Provide whistle-blowing channels
	risk of bribery	提供舉報渠道
	組織內缺乏誠信的文化可能導致潛	• Ensure awareness-raising initiatives
	在受賄風險	are organised on integrity and
		anti-corruption
		確保就誠信及反貪污制定提高意識
		的措施
Customer Satisfaction	• Customer concern might not be well	• Provide numerous customer
客戶滿意度	received due to lack of a channel	communication channels
	and methodology	提供多個客戶溝通渠道
	客戶的關注可能因欠缺渠道及方法	• Provide guidelines to employees on
	而未能接收	customer information handling
		向員工提供有關客戶資料處理的指
		引
Customer Service	• Service level might not be well	• Adopt a grievance resolution
客戶服務	monitored, resulting in a complaint	mechanism
	being handled without a proper	採用申訴解決機制
	mechanism	• Offer technical support in response
	服務程度可能未能有效監管，導致	to customer feedback
	在沒有合理機制下處理投訴	提供技術支援以回應客戶反饋

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Material Topics	ESG-related Risks	Action Taken
重大議題	環境、社會及管治相關風險	所採取的行動
Diversity and Equal	• Lack of diversity in the workforce	• Prohibit any form of harassment and
Opportunity	limits the Group’s ability to attract	discrimination in the Code of
多元化及平等機會	and retain top talent, hinders	Conduct
	innovation and results in a narrow	操守準則中禁止任何形式的騷擾和
	perspective in the decision-making	歧視行為
	process	• Provide reporting channels for
	員工團隊缺乏多元化限制了本集團	violations of the Code of Conduct
	吸引及保留頂尖人才的能力，阻礙	就違反操守準則的行為提供舉報渠
	創新，並導致決策過程的視野狹窄	道
		• Organise employee activities and
		reward outstanding employees
		舉辦員工活動，獎勵優秀員工
		• Implement diversity and inclusion
		initiatives to actively recruit and
		retain individuals from diverse
		backgrounds
		實施多元化與包容性舉措，積極招
		聘及挽留來自不同背景的人士
Employee	• Insufficient communication may lead	• Regular engagement with
Communication	to misunderstandings and a lack of	employees
員工溝通	clarity regarding the Group’s ESG	定期與員工互動
	goals, initiatives, and performance	• Use various communication
	溝通不足可能產生誤解，令本集團	channels, such as newsletters,
	的環境、社會及管治目標、舉措及	intranet platforms, and digital tools,
	績效不清晰明暸	to ensure multiple touchpoints for
		employee engagement
		利用多種交流渠道，如簡報、內聯
		網平台及數碼工具，確保與員工的
		多端接觸

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Material Topics	ESG-related Risks	Action Taken
重大議題	環境、社會及管治相關風險	所採取的行動
Product Quality	• Lack of channels for handling	• Receive customer feedback on
Management	customer grievances and insufficient	product quality
產品質量管理	quality monitoring may result in low	收集客戶就產品質量的反饋意見
	customer satisfaction and even	• Apply quality assurance and control
	product recalls	procedures
	缺乏處理客戶申訴的渠道及質量監	應用質量保證及控制程序
	察不足可能導致客戶滿意度低，甚	• Obtain certifications on product
	至是產品召回	quality
		就產品質量取得證書
		• Ensure the customer engagement
		channel is clear and regular
		engagement is conducted
		確保客戶聯繫渠道清晰並定期進行
		聯繫
		• Hold regular meetings with suppliers
		to monitor the updates on product
		safety compliance
		定期與供應商舉行會議，以監察產
		品安全合規的更新情況
Supply Chain	• Certain suppliers of the Group may	• Follow supplier selection and
Management	not understand the ESG	evaluation standards diligently
供應鏈管理	requirements adequately and might	時刻遵守供應商挑選及評估標準
	not be aware of the need to comply	• Sign agreements with suppliers of
	with environmental regulations,	goods and other inputs
	which may also lead to reputation	與貨品及其他投入品的供應商簽署
	loss	協議
	本集團若干供應商未必充分了解環	• Prefer suppliers with higher
	境、社會及管治的規定，而且不一	environmental performance, and
	定知悉需要遵守的環境規例，這亦	ensure all major suppliers have an
	可能導致聲譽受損	environmental management system
	• The assessment of suppliers may be	and quantify their greenhouse gas
	insufficient which may result in	emissions and have the reported
	business malpractices	certificates
	對供應商的評估可能不足，或導致	優先選擇環境表現較佳的供應商，
	商業行為不當	並確保所有主要供應商均設有環境
		管理系統及量化溫室氣體排放，並
		持有報告證書
		• Ongoing assessment of suppliers to
		be organised to mitigate the risks
		對將予委聘的供應商進行持續評
		估，以緩解風險
		• Use eco-friendly raw materials
		使用環保原材料

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Environmental, Social and Governance Report 環境、社會及管治報告

OUR OPERATION

我們的營運

Supply Chain Management

供應鏈管理

The Group strives to maintain long-term and stable relationships with its suppliers to ensure quality and reliability of the products. During the year, the Group worked with 49 suppliers, of which 19 are located in Hong Kong, 22 in Mainland China and 8 in other regions.

本集團致力與供應商維持長期及穩定的關係， 以確保產品優質及可靠。年內，本集團與49個 供應商合作，其中19個位於香港，22個位於中 國大陸及8個位於其他地區。

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Supplier Distribution
供應商分佈
16%
Hong Kong
香港
39%
Mainland China
中國大陸
Other regions
其他地區
45%
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We have established comprehensive guidelines for supplier selection and evaluation, with a focus on not only price, quality, service, and reputation but also social and environmental management practices. We actively encourage our suppliers to effectively address areas such as product responsibility, human rights, and environmental protection. We prioritise suppliers who use environmentally friendly products and services.

我們就挑選及評估供應商制定了全面的準則， 該等準則不僅注重價格、質量、服務及聲譽， 亦關注社會及環境的管理慣例。我們積極鼓勵 供應商高效地解決有關產品責任、人權及環保 等方面的問題。我們優先選擇使用環保產品及 服務的供應商。

• Supplier agreements are based on our requirements on product quality and delivery inspection 供應商協議乃基於我們對產品質量及驗收的要求 Suppliers • Receive product samples and specifications for inspection 供應商 取得產品樣本及規格以作檢驗 • If any quality problems are identified, we request a replacement 如發現任何品質問題，我們會要求換貨

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Supplier Management 供應商管理

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Green Procurement

The Group consistently improves its ESG performance by integrating environmental considerations in decisions made in the entire supply chain. We prioritise green procurement practices and give preference to suppliers with stronger environmental performance.

Our major supplier holds the certification under ISO 14001 Environmental Management System. We actively seek suppliers who offer environmentally friendly products or services. For instance, sourcing of personal hygiene and disinfectant products aligns with the Recommended Green Specifications published by the Environmental Protection Department of Hong Kong.

Product Responsibility

Product Quality

The Group is committed to delivering high-quality products to its customers. We strictly adhere to quality assurance and control procedures to ensure that desired and stipulated quality standards are maintained. In case of any non-conformity, we work directly with the original manufacturer to replace the product promptly.

For “K-clean”, a personal hygiene and disinfectant product, we have obtained various certifications that attest to its quality. These certifications include antibacterial tests, chemical safety evaluations, and assessments of its disinfection effectiveness. This demonstrates our dedication to providing safe and effective products to our customers.

Our focus on quality management ensures that our products are safe, effective and compliant with industry standards. During the year, there were no product recalls for safety and health reasons. We did not receive any material products and service-related complaints.

綠色採購

本集團將環境因素納入整個供應鏈的決策中， 以持續提升其環境、社會及管治表現，我們將 綠色採購慣例置於首位並優先選擇環境表現較 佳的供應商。

本集團主要供應商持有ISO 14001環境管理系統 的認證。我們積極尋求提供環保產品或服務的 供應商。例如，我們根據香港環境保護署發佈 的建議環保規格採購個人衞生及消毒產品。

產品責任

產品質量

本集團致力於為客戶提供高質量產品。我們嚴 格堅守質量保證及控制程序，以確保達到符合 期望及規定的質量標準。一旦有任何違反情 況，我們直接與原製造商協作，及時更換產品。

就個人衞生及消毒產品「 K-clean 」而言，我們已 取得多個可證明其質量的證書。該等證書包括 抗菌測試、化學安全評估及消毒效力評估。此 舉顯示了我們為顧客提供安全及有效產品所做 的努力。

我們專注於質量管理，確保產品安全、有效且 符合行業標準。年內，概無因安全及健康理由 召回產品，且我們並無接獲任何重大產品及服 務相關投訴。

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Customer Satisfaction

The Group is dedicated to meeting customer expectations and ensuring their satisfaction. We offer multiple channels of communication, such as Facebook, Email, WhatsApp, and a hotline, to provide convenient ways for customers to reach out to us.

We prioritise understanding the needs and demands of our customers to continuously enhance product quality and provide the necessary technical support and resources. By actively listening to customer feedback, we strive to identify areas for improvement and make the necessary adjustments to meet their expectations effectively. Our goal is to deliver products and services that align with customer requirements and provide a seamless experience throughout their engagement with us.

Customers can also communicate their opinions on quality of products and services or any related issues through a grievance resolution mechanism. Specific departments and managers record and deal with customer concerns in a timely manner by taking the necessary follow-up actions. Sales and marketing team works with the technical team to provide support to customers. If there is a potential safety issue, quality concern, or an instance of non-compliance with regulations, we will start a recall process. This involves a comprehensive investigation to evaluate the seriousness of the issue, communicating with the relevant stakeholders, and promptly retrieving any affected products from the market.

Customer Privacy and Intellectual Property Rights

We prioritise the confidentiality of customer information and have established guidelines for employees to follow. To prevent unauthorised access, customer information is stored securely on our company server, and responsible personnel are entrusted with the task of maintaining its confidentiality and preventing unauthorised use, loss, damage, or corruption.

客戶滿意度

本集團致力於滿足客戶期望及令顧客滿意。我 們提供多個溝通渠道，如Facebook 、電郵、 WhatsApp及熱線電話，以便客戶與我們聯繫。

我們將理解客戶的需要及要求放置首位，以持 續加強產品質量及提供必要的技術支持及資 源。透過積極聆聽客戶反饋，我們努力識別改 善空間，使必要的調整能有效符合客戶期望。 我們的目標是提供符合客戶要求的產品及服 務，與客戶合作時為他們提供完善體驗。

客戶亦可透過申訴解決機制，就產品及服務質 量或任何相關問題發表其意見。特定部門及經 理會記錄並盡快採取必要的跟進行動，解決客 戶疑慮。銷售及營銷團隊與技術團隊合作，為 客戶提供支援。若有潛在安全問題、質量問題 或不合規情況發生，我們將會啟動召回程序。 其包括評估問題嚴重性的全面調查、與相關持 份者的溝通，以及及時召回市場上任何受影響 的產品。

客戶私隱及知識產權

我們將客戶資料的保密性置於首位，並制定了 員工應遵守的準則。為防止未經授權的存取， 客戶資料安全地儲存於本公司伺服器內，並委 託負責人員對其保密性進行維護，防止未經授 權的使用、丟失、損毀或破壞。

48 Perfect Optronics Limited Annual Report 2025

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We are committed to complying with all relevant laws and regulations concerning personal data and privacy*. By obtaining trademarks for our products, we safeguard our intellectual property rights. This proactive measure helps prevent counterfeiting and fraud, ensuring the integrity and authenticity of our offerings.

During the year, the Group complied with all relevant laws and regulations relating to health and safety, advertising, labelling and privacy matters concerning products and services sold and provided to customers.

Anti-corruption

The Group upholds integrity and honesty as its fundamental values. We have a strict zero-tolerance policy towards unethical business practices, including corruption, bribery, fraud, extortion and money laundering. To ensure ethical conduct in all our business units, we have implemented various anti-corruption measures.

One of these measures is the Anti-Fraud Management System, which aligns with applicable laws and regulations. This system helps us proactively address and mitigate fraud risks within our organisation. We also have Anti-bribery Guidelines in place to provide clear instructions for our employees to follow. It is crucial for all employees to thoroughly understand these guidelines and diligently avoid any involvement in corruption-related activities. Additionally, we have implemented educational measures to promote a culture of integrity, including providing anti-corruption related literature to our employees, issuing an employee handbook containing anti-corruption related requirements for new employees, and reminding employees from time to time in our daily business activities to raise their awareness. During the year, the Company also arranged online anti-corruption training organised by Independent Commission Against Corruption to the directors of the Company and employees of the Group to enhance their understanding of anti-corruption requirements. These measures work in conjunction with our robust internal control systems to prevent misconduct. The audit committee of the Company provides guidance and oversight for our anti-fraud efforts, while the Anti-Fraud Department coordinates anti-fraud initiatives across the Group.

我們致力於遵守與個人資料私隱有關的所有適 用法律及法規* 。我們透過為產品取得商標，保 護知識產權。此項積極舉措有助於防止假冒及 欺詐，確保我們所提供產品的完整性和真實性。

年內，本集團就銷售及提供予客戶的產品及服 務遵守有關健康及安全、廣告、標籤及私隱事 宜的一切有關法律及法規。

反貪污

本集團秉承誠實守信的基本價值觀。對於不道 德的營商手法，包括貪污、賄賂、詐騙、敲詐及 洗黑錢，我們採取嚴格的零容忍政策。為確保 所有業務單位的行為符合道德標準，我們已實 施多項反貪污措施。

其中一項措施是反舞弊管理系統，該系統與適 用法律及法規保持一致，有助於我們積極應對 和降低組織內部的舞弊風險。我們亦制定了反 賄賂指引，為員工提供明確的指示以供遵循。 全體員工必須全面了解該等指引，並努力避免 參與任何與貪污有關的活動。此外，我們已經 實施了教育性措施，以促進廉正文化。包括向 員工提供反貪污的相關資料，為新員工提供包 含反貪污相關要求的員工手冊，以及在日常業 務活動中時常提醒員工提高他們的意識。年 內，本公司亦安排由廉政公署舉辦的線上反貪 污培訓予本公司董事及本集團員工，以加強彼 等對反貪污要求的理解。該等措施與我們健全 的內部監控系統相結合，共同防止不當行為的 發生。本公司審核委員會指導並監督反舞弊工 作，而反舞弊部門則負責協調本集團內的反舞 弊舉措。

• List of applicable laws and regulations available in “Laws and Regulations”

• 適用法律及法規列表載於「法律及法規」

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==> picture [345 x 315] intentionally omitted <==

----- Start of picture text -----

Audit Committee
審核委員會
Management
管理層
— Establish and implement anti-fraud
programmes and controls such as
fraud risk assessment and prevention Anti-Fraud Department
設立及落實反舞弊計劃及控制措施， 反舞弊部門
如舞弊風險評估及預防
— Conduct self-assessment on
anti-corruption
進行反貪污自我評估
Business Units
業務單位
Anti-Fraud Governance Structure
反舞弊管治架構
----- End of picture text -----

During the year, we were not aware of any breach of laws and regulations* that could have had a significant impact on the Group relating to bribery, extortion, fraud and money laundering. There were no concluded legal cases regarding corrupt practices.

年內，我們並不知悉有關賄賂、敲詐、詐騙及 洗黑錢且對本集團可能造成重大影響的違法違 規*事件。概無有關貪污常規的已審結法律案件。

Code of Conduct

操守準則

A comprehensive Code of Conduct is in place. It provides clear guidelines to ensure all employees are able to understand what constitutes ethical behaviour and to act with honesty and integrity. The following table lists some major unethical behaviours that are viewed as corrupt and should be avoided at all times.

我們已實施一套全面的操守準則，提供清晰的 指引，確保全體員工能夠了解什麼是有道德的 行為，並以誠實及誠信的態度行事。下表載列 部分視為貪污及任何時間均應避免的主要不道 德行為。

• List of applicable laws and regulations available in “Laws and Regulations”

• 適用法律及法規列表載於「法律及法規」

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Conflict of Interest

利益衝突

Accepting or Offering Advantages 接納或提供好處

Unfair Competition 不公平競爭

• Failure to declare any conflict of interest to the Group for approval 未有向本集團申報任何利益 衝突以取得批准

• Employees or their family members engage in business relationships that are competitive to the Group 員工或其家庭成員從事與本 集團有競爭的業務關係

• Accept gifts of large economic value, in the form of services or discounts 以服務或折扣形式接納具有 較大經濟價值的禮品

• Deliberately accepting gifts that put the Group in an embarrassing situation 故意接納禮品，使本集團陷 入尷尬處境

• Damage the goodwill of our competitors through fabricating and disseminating false information

  • 編造及傳播虛假信息，損害 競爭對手的商譽

• Infringe competitors’ trade or commercial secrets with illegal means 以非法手段侵犯競爭對手的 貿易或商業秘密

• Failure to report the acceptance of a gift to supervisors for approval 未有向上司申報接納禮品以 取得批准

Whistle-blowing

舉報

We have established multiple communication channels to enable employees to report any instances of misconduct or corrupt business practices. Whistle-blowers can use an anonymous email box to submit information securely and confidentially. All reported cases are subject to thorough investigation, with a strong emphasis on protecting the confidentiality of the whistle-blower.

我們建立了多種溝通渠道，以便員工報告任何 不當行為或貪污商業行為。舉報人可以使用匿 名郵箱，安全、保密地提交資料。所有舉報個 案均接受全面調查，並重點保護舉報人的隱私。

In cases where misconduct is substantiated, disciplinary actions are promptly taken, including immediate termination of employment. If necessary, we also refer cases involving breaches of the Code of Conduct to law enforcement authorities for further action. Our commitment to maintaining the highest ethical standards is unwavering, and we take decisive measures to ensure a transparent and accountable work environment.

一旦不當行為得到證實，我們會立即採取紀律 行動，包括即時解僱。如有必要，我們亦會將 涉及違反操守準則的個案轉介予執法部門採取 進一步行動。我們堅定不移地致力於維持高水 平道德標準，並採取果斷措施確保有一個公開 透明、負責的工作環境。

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OUR PEOPLE

我們的員工

Employee Composition

員工組成

The Group is committed to safeguarding the rights of its employees and fostering an inclusive and supportive work environment that promotes their well-being. As of 31 December 2025, the Group had a total of 47 employees. All our employees are full-time staff.

本集團致力於保障員工的權利，營造共融及提 供充足支援的工作環境，促進員工的福祉。於 二零二五年十二月三十一日，本集團共聘有47 名員工。所有員工均為全職員工。

==> picture [445 x 152] intentionally omitted <==

----- Start of picture text -----

By Gender By Age By Geographical Region By Employment Type
按性別劃分 按年齡劃分 按地區劃分 按僱傭類別劃分
2.1% 12.8%
29.8%
42.6% 44.7%
25.5%
61.7%
57.4%
70.2%
53.2%
Male Under 31 years old Hong Kong Managerial staff
男性 31歲以下 香港 管理人員
Female Between 31 and 50 Mainland China General staff
女性 31至50歲 中國大陸 普通員工
Over 50 years old Taiwan
50歲以上 台灣
----- End of picture text -----

During the year, the overall employee turnover rate was 21.3%. Distribution of employee turnover is presented in the graphs below:

年內，整體員工流失率為21.3% 。員工流失分佈 於下圖呈列︰

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----- Start of picture text -----

Employee Turnover Rate by Gender Employee Turnover Rate by Age Employee Turnover Rate by Geographical Region
按性別劃分的僱員流失率 按年齡劃分的僱員流失率 按地區劃分的僱員流失率
50% 150% 100%
40.0% 80% 83.3%
100%
25.9% 100% 60% 56.3%
13.0% 15.0% 50% 66.7% 43.3% 40% 41.7%
24.0% 14.3% 20% 13.8% 16.7%
0% 0% 0% 0% 3.2%
Male Female Below 31 years old 31 to 50 years old Above 50 years old Hong Kong Mainland China Taiwan
男性 女性 31歲以下 31至50歲 50歲以上 香港 中國大陸 台灣
2024 2025 2024 2025 2024 2025
二零二四年 二零二五年 二零二四年 二零二五年 二零二四年 二零二五年
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Employee Rights and Welfare

僱員權利及福利

The Group remains committed to equal treatment of all employees, irrespective of age, gender, family status, sexual orientation, ethnicity, creed, or religion. We prioritise fostering an inclusive and diverse working environment that values and respects every individual.

本集團始終致力於公平地對待所有員工，不論 年齡、性別、家庭狀況、性取向、種族、信仰或 宗教。我們將營造包容及多元化的工作環境作 為優先事項，重視並尊重每一個人。

We have a zero-tolerance policy towards harassment or discrimination in any form. We encourage employees to promptly report any violations of the Code of Conduct to the designated officer through established reporting channels. Reported cases are thoroughly and fairly examined, and appropriate disciplinary actions are taken against those responsible for any breaches.

我們對任何形式的騷擾或歧視均採取零容忍政 策。我們鼓勵員工通過既定的舉報渠道，及時 向指定專員舉報任何違反操守準則的行為。我 們會對舉報個案進行全面、公正的審查，並對 任何違規行為的責任人採取適當的紀律處分。

Our Personnel Management System encompasses comprehensive policies that cover various aspects, such as recruitment, promotion, compensation, working hours, rest periods, dismissal, benefits, and welfare measures. We strictly adhere to the prevailing laws and regulations governing these areas, ensuring compliance and fairness in all our personnel management practices.

員工管理系統包括涵蓋各個方面的綜合政策， 例如招聘、晉升、補償、工時、休假、離職、待 遇及福利措施。我們嚴格遵守這些方面的現有 法律及法規，確保所有員工管理慣例合規、公 平。

We understand the importance of recognising and appreciating contributions of our employees as a means of retaining talent. To support this, we offer competitive remuneration packages and comprehensive welfare benefits, encompassing statutory benefits, caring benefits and incentives. Remuneration packages are reviewed once a year to ensure we meet or exceed the prevailing market standards.

我們深知認可及讚賞員工的貢獻對於挽留人才 的重要性。為此，我們提供具競爭力的薪酬待 遇及全面的福利，包括法定福利、關懷福利及 獎勵。我們每年審視薪酬待遇，以確保我們達 到或超過現行的市場標準。

==> picture [456 x 175] intentionally omitted <==

----- Start of picture text -----

Statutory benefits Caring benefits Incentive benefits
法定福利 關懷福利 獎勵福利
• Social insurance • Medical benefits • Year-end bonus
社會保險 醫療福利 年終獎金
• Provident fund • Holiday benefits • Share option scheme
公積金 休假福利 購股權計劃
• Housing reserve fund • Outstanding employee award
住房儲備金 傑出僱員獎
• Maternity leave
產假
• Statutory holidays
法定假期
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Labour Practices

The Group remains vigilant against child and forced labour, actively collaborating with suppliers and processing service providers to ensure that no instances of such labour are present in their business operation. Violations of our policies in this regard can lead to termination of business relationships.

During the year, the Group was not aware of any instance of non-compliance with laws and regulations having a significant impact on the Group relating to employment and labour practices. No incidents relating to use of child or forced labour were found.

Training and Development

Providing adequate and appropriate training for employees is crucial not only for advancement of individual careers but also for the Group’s performance. The Group provides appropriate training to its employees to equip them with the required knowledge and skills. Our internal training initiatives are designed to enhance technical understanding of our products and improve sales performance. By investing in these training programs, we aim to empower our employees with tools and expertise needed to excel in their roles and contribute to the success of the Group.

A total of 444 hours of training were provided to employees during the year. About 100% of male employees and 95% of female employees received training and all management staff and about 91% of general staff were recipients of training this year. During the year, average training hours per year for male and female employees were 11 hours and 7 hours respectively, and the average training hours per year for management and general employees were 12 hours and 8 hours respectively. A well-established system is in place to decide promotions and provide a clear career development path to help employees grow along with the Group.

勞工常規

本集團對童工及強迫勞工保持警惕，並積極與 供應商及加工服務供應商合作，確保在其業務 營運中不存在此類勞工情況。違反我們在此方 面的政策可導致終止業務關係。

年內，本集團不知悉任何違反僱傭及勞工常規 相關法律及法規而對本集團造成重大影響的情 況。概無發現與使用童工或強迫勞工有關的事 件。

培訓及發展

為員工提供充份及適當類型的培訓不只對個人 的職業發展至關重要，對本集團的表現亦至為 必要。本集團為員工提供適當培訓，讓彼等配 備所需的知識和技能。內部培訓計劃旨在提升 員工對產品的技術的理解，並提高銷售業績。 通過投資於該等培訓計劃，我們旨在為員工提 供所需的工具及專業知識，使彼等能夠在各自 的崗位上發揮所長，為本集團的成功作出貢獻。

年內已向員工提供合共444個小時的培訓。本年 度，約100%男性員工及約95%女性員工已接受 培訓，以及全部管理人員及約91%的普通員工 已接受培訓。本年度，男性及女性員工的每年 平均培訓時數分別為11小時及7小時，管理人員 及普通員工的每年平均培訓時數則分別為12小 時及8小時。我們設有完善的晉升機制及提供清 晰的事業發展路徑，以協助員工與本集團一起 成長。

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Occupational Health and Safety

職業健康與安全

Due to the nature of our business, occupational hazards are minimal. However, we remain committed to providing a safe and healthy working environment for all employees. We regularly communicate health and safety information to keep employees informed about potential hazards.

由於我們的業務性質，職業危害微乎其微。然 而，我們仍然致力於為所有員工提供安全及健 康的工作環境。我們定期發佈健康及安全資 料，讓員工瞭解潛在的危害。

In line with our ESG policy, we have implemented appropriate safety measures in both office and warehouse areas. These measures aim to mitigate any potential risks and ensure the well-being of our employees. Our ongoing efforts prioritise maintaining a secure and conducive working environment for everyone.

根據我們的環境、社會及管治政策，我們在辦 公室及倉庫區均已採取適當的安全措施。該等 措施旨在降低任何潛在風險，確保員工的福 祉。我們將繼續優先為所有人營造一個安全、 有利的工作環境。

During the year, there were no reports of any work-related injuries and there have been no fatalities in the past three years. The Group was not aware of any incidents of non-compliance with relevant laws and regulations* that could have had a significant impact on the Group, relating to safety and protection of employees from occupational hazards.

年內，概無錄得任何工傷及於過去三年概無錄 得死亡個案。本集團並無知悉任何有關安全及 保障僱員避免職業危害且可能對本集團造成重 大影響的違反相關法律法規*事件。

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----- Start of picture text -----

Prohibit smoking and drinking in office and warehouse
禁止於辦公室及倉庫內吸煙及飲酒
Provide training and assistance when needed
於需要時提供培訓及協助
Keep the workplace clean
保持工作場所乾淨整潔
Implement a safety emergency plan
實行安全應急計劃
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Safety Measures 安全措施

• List of applicable laws and regulations available in “Laws and Regulations”

• 適用法律及法規列表載於「法律及法規」

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OUR COMMUNITY

我們的社區

In order to fulfil our commitment to community engagement, we have partnered with Heep Hong Society to make meaningful contributions. During the year, we donated HK$60,000 to Heep Hong Society. Heep Hong Society supports timely assessment and appropriate training for children and youth with special needs. Moving forward, we remain dedicated to fulfilling our social responsibility and actively seek opportunities to make a positive impact on the community.

為履行我們對社區參與的承諾，我們與協康會 合作，作出有意義的貢獻。年內，我們向協康 會捐款60,000港元。協康會為有特殊需要的兒 童和青年提供及時的評估和合適的培訓支援。 展望未來，我們將繼續致力於履行社會責任， 積極尋找機會，為社會帶來積極影響。

OUR ENVIRONMENT

我們的環境

Addressing Climate Change

應對氣候變化

The Group recognises the profound impact of climate change, both on its own business operations and on a global scale. In response to the escalating threats posed by climate change, we refer to the guidelines set forth by the International Financial Reporting Standards S2 on Climate-related disclosure. This involves identifying and assessing climate-related risks and opportunities in order to effectively navigate this evolving landscape.

本集團明白氣候變化對自身業務運營及全球範 圍的深遠影響。為了應對氣候變化帶來的不斷 升級的威脅，我們參考了《國際財務報告可持續 披露準則第2號 — 氣候相關披露》所載的指引。 這包括識別及評估氣候相關風險及機遇，以便 有效地應對不斷變化的形勢。

Climate-related	Risks	Potential Financial Impacts
氣候相關風險		潛在財務影響
Physical Risks	Acute
實體風險	急性
	• Increased severity of extreme weather	• Reduced revenue and higher costs from negative impacts
	events such as cyclones and floods	on workforce
	颶風及洪災等極端天氣事件的嚴重性	對勞動力的負面影響導致收入減少及成本上升
	加劇	• Reduced revenue from lower sales
		銷售下降導致收入減少
	Chronic
	長期
	• Rising mean temperatures
	平均氣溫上升
	• Rising sea levels
	海平面上升

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Climate-related	Risks	Potential Financial Impacts
氣候相關風險		潛在財務影響
Transition Risks	Policy and Legal
過渡風險	政策及法律
	• Increased pricing of greenhouse	• Increased compliance related costs
	gases (“GHG”) emissions	合規相關成本增加
	溫室氣體（「溫室氣體」）排放定價上升
	• Enhanced obligations on climate-
	related disclosure
	氣候相關的披露責任增加
	Technology
	科技
	• Failure in new technology investment	• Costs to adopt new practices and processes
	新技術投資失敗	採用新的實踐和程序的成本
	• Costs to transition to lower emissions	• Additional costs of technology development investment
	technology	技術開發投資的額外費用
	過渡至低排放技術的成本
	Market
	市場
	• Increased cost of raw materials	• Reduced demand for products and services due to shift in
	原材料成本增加	consumer preferences
	• Changes in customer behaviour	由於消費者偏好的轉變而導致產品和服務需求下降
	客戶行為改變
	Reputation
	聲譽
	• Shifts in consumer preferences	• Reduced revenue from decreased demand for products
	消費者喜好轉變	產品需求下降導致收入下降
	• Increased stakeholder concern
	持份者日益關切

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圓美光電有限公司 2025 年報

Environmental, Social and Governance Report 環境、社會及管治報告

Climate-related Opportunities 與氣候相關的機遇

Potential Financial Impacts 潛在財務影響

• Opportunities Energy Source 機遇 能源 • Use of new technologies • Reduced exposure to GHG emissions and therefore less 使用新技術 sensitivity to changes in cost of carbon

• • Use of lower-emission sources of 減少溫室氣體排放，從而降低對碳成本變動的敏感度 energy 使用低排放能源

• Products and Services 產品及服務 • Shift in consumer preferences • Increased revenue through demand for environment-related 消費者喜好轉變 products and services

• • Ability to diversify business activities 透過對環境相關產品和服務的需求增加收入 使業務活動多元化的能力

In our efforts to tackle climate-related risks, we have established a comprehensive climate change policy that outlines our commitments to minimise the impact of our business operations on the environment.

為應對與氣候相關的風險，我們已制定一項全 面的氣候變化政策，其中概述我們儘可能減低 業務營運對環境的影響的承諾。

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Mitigation Adaptation
緩減 適應
Adopt energy saving, waste reduction and Assess climate-related risks and
resource saving measures
opportunities
採取節能、減廢及資源節約措施
評估氣候相關風險及機遇
Reduce GHG emissions by developing
environmental targets Include climate-related issues into the
制定環境目標以減低溫室氣體排放
risk management process and business
continuity plans
Incorporate climate change considerations
將氣候相關議題載入風險管理程序及
into the procurement process
業務持續規劃
將氣候變化考量納入採購程序
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Climate Change Policy 氣候變化政策

58

Perfect Optronics Limited Annual Report 2025

Environmental, Social and Governance Report 環境、社會及管治報告

We have set specific targets in different areas for reducing the environmental impacts of our business which we review on a regular basis.

我們已就降低業務對環境的影響在不同方面設 定具體目標，我們會定期檢視該等目標。

Environmental Targets Status 環境目標 狀態 • Replace all vehicles with electric cars by 2030 In progress 二零三零年或之前將所有車輛更換為電動車 進行中 • Achieve overall waste reduction In progress 達成整體減廢 進行中 • Achieve overall rise in paper recycling rate In progress 達成整體紙張回收率上升 進行中 • Procure office equipment with higher grades of Completed energy efficiency labels by 2025 已完成

• Procure office equipment with higher grades of energy efficiency labels by 2025

• 二零二五年或之前採購較高能源效益標籤級別的辦公設備

Energy Consumption

能源消耗

Electricity and gasoline are the main types of energy we consume. Office premises consumed 106,066 kWh of electricity, and vehicles consumed 11,834 litres of gasoline in 2025, which means a total energy consumption of 761,895 MJ and an intensity of 299 MJ per m[2] .

電力及汽油為我們消耗的主要能源類別。二零 二五年，辦公場所消耗了106,066千瓦時電力及 汽車消耗了11,834公升汽油，總能源消耗量為 761,895兆焦耳及密度為每平方米299兆焦耳。

Energy Consumption and Intensity 能源消耗及密度

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1,000,000 400
299
800,000
267 300
600,000 462,470
380,059
200
400,000
200,000 421,889 381,836 100
0 0
2024 2025
二零二四年 二零二五年
Electricity Gasoline Energy intensity
電力 汽油 能源密度
2)
Consumption (MJ) 消耗量（兆焦耳） Intensity (MJ/m
密度（兆焦耳╱平方米）
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圓美光電有限公司 2025 年報

Environmental, Social and Governance Report 環境、社會及管治報告

GHG Emissions

溫室氣體排放

The rise in frequency of extreme weather events triggered by climate change is increasing and that could pose safety risks to our employees, delaying ongoing projects. We follow the Code of Practice in Times of Typhoons and Rainstorms issued by the Labour Department and consider climate-related issues when formulating our business plans.

氣候變化引起的極端天氣事件越來越頻密，可 能對員工構成安全風險，令進行中的項目延 期。我們在制定業務計劃時遵守勞工處的《颱風 及暴雨警告下工作守則》，並考慮氣候相關議 題。

In 2025, the total GHG emissions amounted to approximately 79 tonnes of carbon dioxide equivalent (“tCO2e”), of which 31 tCO2e were direct emissions (Scope I), attributed to gasoline consumed by our vehicles. The remaining 48 tCO2e of indirect carbon emissions (Scope II) were on account of purchased electricity. The emission intensity was 0.03 tCO2e per m[2] .

二零二五年，溫室氣體排放總量為約79噸二氧 化碳當量（「噸二氧化碳當量」），其中31噸二氧 化碳當量為直接排放（範圍一），源於我們的私 家車消耗的汽油。餘下48噸二氧化碳當量為間 接碳排放（範圍二），乃源於所購買電力。排放 密度為每平方米0.03噸二氧化碳當量。

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GHG Emission and Intensity
溫室氣體排放量及密度
100 0.05
80 0.04
55 0.03 0.03
60 0.03
48
40 0.02
20 38 0.01
31
0 0
2024 2025
二零二四年 二零二五年
Scope I Scope II Emission intensity
範圍一 範圍二 排放密度
e)2 2)
e/m2
Emission (tCO
Intensity (tCO
排放量（噸二氧化碳當量）
密度（噸二氧化碳當量╱平方米）
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60 Perfect Optronics Limited Annual Report 2025

Environmental, Social and Governance Report 環境、社會及管治報告

Air Emissions and Waste

廢氣排放及廢棄物

The Group’s gasoline consumption (private vehicles) generates approximately 0.2 kg sulphur oxides (“SOX”), 6.8 kg nitrogen oxides (“NOX”) and 0.5 kg particulate matters (“PM”).

本集團的汽油消耗（私家車）產生約0.2公斤硫氧 化物（「硫氧化物」）、6.8公斤氮氧化物（「氮氧化 物」）及0.5公斤懸浮微粒（「懸浮微粒」）。

We are a predominantly office-based business and the only waste we generate is wastepaper. During the year, a total of 381 kg of waste paper was generated. The waste intensity was 0.15 kg per m[2] . Our operations do not generate hazardous waste.

我們主要以辦公室業務為主，唯一產生的廢棄 物是紙張。年內，共產生了381公斤紙張廢棄 物。廢棄物密度為每平方米0.15公斤。我們的營 運不產生有害廢棄物。

Air Emissions 廢氣排放量

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10
0.6
0.5
5
8.3
6.8
0.2 0.2
0
2024 2025
二零二四年 二零二五年
SOx NOx PM
硫氧化物 氮氧化物 懸浮微粒
Emission (kg)
排放量（公斤）
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Resources Management

資源管理

The Group has accelerated efforts for reducing environmental impacts of its operations. Our well-articulated ESG policy helps ensure compliance with environmental rules and regulations and promote resource conservation.

本集團已加大力度，降低營運對環境的影響。 我們明確的環境、社會及管治政策有助確保符 合環境規則及規例及促進資源保育。

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圓美光電有限公司 2025 年報

Environmental, Social and Governance Report 環境、社會及管治報告

Water

水

Water consumed in our offices is tap water. In 2025, the total water consumption was 242 tonnes, with water intensity of 0.63 tonnes per m[2] . There was no issue in sourcing water fit for the purpose.

我們辦公室消耗的水為自來水。二零二五年， 用水總量為242噸，水密度為每平方米0.63噸。 在求取適用水資源方面並無問題。

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Water Consumption and Intensity
用水量及密度
400 0.80
0.63
300 0.60
0.50
200 0.40
360 242
100 0.20
0 0
2024 2025
二零二四年 二零二五年
Water consumption Water intensity
用水量 水密度
包裝材料
2)
用水量（噸）
密度（噸╱平方米）
Consumption (tonnes) Intensity (tonnes/m
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Packaging Materials

In 2025, approximately 3 tonnes of paper was used as packaging materials, representing a 67% decrease from 2024. Packaging materials usage decreased during the year, largely due to a higher proportion of pre-packaged products sourced from suppliers and sold without the need for additional packaging.

於二零二五年，約3噸紙張用作包裝材料，較二 零二四年減少67% 。年內包裝材料的使用量有 所下降，主要原因為自供應商取得並銷售之預 先包裝產品比例提高，相關產品無需再進行額 外包裝。

Implementing Green Office

實施綠色辦公室

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The Group has pursued green office initiatives since 2017, in order to build an environment-friendly culture in its organisation and operations.

本集團自二零一七年起已推行綠色辦公室倡 議，以在組織及營運範圍內建立環保文化。

62 Perfect Optronics Limited Annual Report 2025

Environmental, Social and Governance Report 環境、社會及管治報告

To raise employees’ awareness of resource conservation, we distribute and paste stickers and posters about green practices. We also adopt numerous resource conservation and energy-saving measures, as listed below.

為提高員工的資源保護意識，我們分發及張貼 有關綠色做法的貼紙及海報。我們亦採取許多 節約資源及節約能源的措施，具體如下。

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Energy
能源
• Switch off equipment when not in use
關閉並非使用中的設備
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• grades of efficiency labels 購買能源效益標籤級別高的辦公設備

• • Clean air conditioners periodically 定期清潔空調

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Paper 紙張

• Use electronic storage medium to reduce printing 使用電子工具，減少列印

• Assign a designated area for paper recycling 指定專門的廢紙回收區域

• Collection tray for waste copy paper used on one side so it is available for printing on the other side

• 在打印機旁設置回收盤，收集已列印一面 的紙張以便再作打印

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• Waste Electrical and Electronic Equipment 廢棄電器及電子設備 • Adopt multi-function devices, such as printing, scanning, fax photocopy 採用多功能設備，例如打印、掃描、 傳真、複印

Plastic 塑料

• Use reusable tableware to avoid disposable utensils 使用可循環使用杯具，避免使用一次性 廚房用具

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• Water 水 • Periodically check taps to prevent leakage 定期檢查水龍頭，確保沒有漏水

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Miscellaneous 雜項

• Design publications with fewer varnishes and coatings 設計需要較少噴漆和塗油的刊物

• Use web-conferencing to minimise business trips 使用網絡會議，減少商務旅行

• • Reuse stationery 再用文具

During the year, the Group was not aware of any incidents of non-compliance with laws and regulations* that could have had a significant impact on the Group, relating to air and greenhouse gas emissions, discharges into water and land, and generation of hazardous and non-hazardous waste.

年內，本集團並不知悉任何有關廢氣及溫室氣 體排放、向水及土地排污及產生有害和無害廢 棄物且可能對本集團造成重大影響的違法違規* 事件。

• List of applicable laws and regulations available in “Laws and Regulations”

• 適用法律及法規列表載於「法律及法規」

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圓美光電有限公司 2025 年報

Environmental, Social and Governance Report 環境、社會及管治報告

LAWS AND REGULATIONS

法律及法規

The Group has established and implemented internal policies in all departments to ensure adequate action in respect of each ESG aspect and compliance with all applicable laws and regulations. The list of major applicable laws and regulations is as follows:

本集團已在所有部門設立及實施內部政策，確 保對各個環境、社會及管治方面，均作出充足 行動及遵守所有適用法律及法規。適用的主要 法律及法規列表如下：

Aspect	Applicable Laws and Regulations	Section/Remarks
層面	適用法律及法規	章節╱附註
Product Responsibility	• Trade Descriptions Ordinance	OUR OPERATION
產品責任	《商品說明條例》	我們的營運
	• Sale of Goods Ordinance
	《貨品售賣條例》
	• Personal Data (Privacy) Ordinance
	《個人資料（私隱）條例》
	• Product Quality Law of the People’s Republic of China
	《中華人民共和國產品質量法》
	• The Civil Code
	《中華人民共和國民法典》
	• The PRC Customer Rights and Interests Protection Law
	《中華人民共和國消費者權益保護法》
	• Advertising Law of the People’s Republic of China
	《中華人民共和國廣告法》
	• Measures for the Administration of Internet Advertising
	《互聯網廣告管理辦法》
	• Anti-monopoly Law of the People’s Republic of China
	《中華人民共和國反壟斷法》
	• Anti-Unfair Competition Law of the People’s Republic of China
	《中華人民共和國反不正當競爭法》
	• Cybersecurity Law of the People’s Republic of China
	《中華人民共和國網絡安全法》
	• Data Security Law of the People’s Republic of China
	《中華人民共和國數據安全法》
	• Personal Information Protection Law of the People’s Republic of China
	《中華人民共和國個人信息保護法》
Anti-corruption	• Prevention of Bribery Ordinance	OUR OPERATION
反貪污	《防止賄賂條例》	我們的營運
	• Competition Ordinance
	《競爭條例》
	• Anti-Money Laundering Law of the People’s Republic of China
	《中華人民共和國反洗錢法》
	• Criminal Law of the People’s Republic of China
	《中華人民共和國刑法》
	• The Company Law of the People’s Republic of China
	《中華人民共和國公司法》
	• The Anti-Corruption Act of Taiwan
	台灣的《貪污治罪條例》

64

Perfect Optronics Limited Annual Report 2025

Environmental, Social and Governance Report 環境、社會及管治報告

Aspect	Applicable Laws and Regulations	Section/Remarks
層面	適用法律及法規	章節╱附註
Employment	• Employment Ordinance	OUR PEOPLE
僱傭	《僱傭條例》	我們的員工
	• Minimum Wage Ordinance
	《最低工資條例》
	• Labour Law of the People’s Republic of China
	《中華人民共和國勞動法》
	• Labour Contract Law of the People’s Republic of China
	《中華人民共和國勞動合同法》
	• Provisions on the Prohibition of Using Child Labour of the People’s
	Republic of China
	中華人民共和國的《禁止使用童工規定》
	• The Regulation on the Administration of Housing Accumulation
	《住房公積金管理條例》
	• The Social Insurance Law of the People’s Republic of China
	《中華人民共和國社會保險法》
	• The Labour Standards Act of Taiwan
	台灣的《勞動基準法》
	• Law of the People’s Republic of China on the Protection of Minors
	《中華人民共和國未成年人保護法》
	• Law of the People’s Republic of China on Safeguarding the Rights and
	Interests of Women
	《中華人民共和國婦女權益保障法》
	• Special Rules on the Labor Protection of Female Employees
	《女職工勞動保護特別規定》
	• Regulation on Paid Annual Leave for Employees
	《職工帶薪年休假條例》
	• Mandatory Provident Fund Schemes Ordinance
	《強制性公積金計劃條例》
	• Sex Discrimination Ordinance
	《性別歧視條例》
	• Disability Discrimination Ordinance
	《殘疾歧視條例》
	• Family Status Discrimination Ordinance
	《家庭崗位歧視條例》
Occupational Health and	• Occupational Safety and Health Ordinance	OUR PEOPLE
Safety	《職業安全及健康條例》	我們的員工
職業健康及安全	• Employees’ Compensation Ordinance
	《僱員補償條例》

• Law of the People’s Republic of China on the Prevention and Control of Occupational Diseases

• 《中華人民共和國職業病防治法》

• • The Occupational Safety and Health Act of Taiwan 台灣的《職業安全衛生法》

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圓美光電有限公司 2025 年報

Environmental, Social and Governance Report 環境、社會及管治報告

Aspect	Applicable Laws and Regulations	Section/Remarks
層面	適用法律及法規	章節╱附註
Environmental Management	• Air Pollution Control Ordinance	OUR ENVIRONMENT
環境管理	《空氣污染管制條例》	我們的環境
	• Water Pollution Control Ordinance
	《水污染管制條例》
	• Ozone Layer Protection Ordinance
	《保護臭氧層條例》
	• Law of the People’s Republic China on Prevention and Control of Soil
	Contamination
	《中華人民共和國土壤污染防治法》
	• Law of the People’s Republic China on Prevention and Control of Noise
	Pollution
	《中華人民共和國噪聲污染防治法》
	• Law of the People’s Republic China on Prevention and Control of
	Radioactive Pollution
	《中華人民共和國放射性污染防治法》
	• Law of the People’s Republic of China on the Prevention and Control of
	Environment Pollution caused by Solid Wastes
	《中華人民共和國固體廢物污染環境防治法》
	• Atmospheric Pollution Prevention and Control Law of the People’s
	Republic of China
	《中華人民共和國大氣污染防治法》
	• Water Pollution Prevention and Control Law of the People’s Republic of
	China
	《中華人民共和國水污染防治法》
	• The Environmental Protection Law of the People’s Republic of China
	《中華人民共和國環境保護法》
	• The Law of the People’s Republic of China on Environment Impact
	Assessment
	《中華人民共和國環境影響評價法》
	• Measures for Ecological and Environmental Administrative Punishments
	《生態環境行政處罰辦法》

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Perfect Optronics Limited Annual Report 2025

Environmental, Social and Governance Report 環境、社會及管治報告

PERFORMANCE DATA SUMMARY

數據表現摘要

								2025	2024
								二零二五年	二零二四年
						Total Headcount	員工總數	47	53
						By Geographical Distribution	按地區劃分
						Hong Kong	香港	29	31
						Mainland China	中國大陸	12	16
						Taiwan	台灣	6	6
						By Age	按年齡劃分
						＜31	＜31	1	3
						31–50	31–50	25	30
						＞50	＞50	21	20
						By Gender	按性別劃分
						Male	男性	27	30
	Workforce		員工			Female By Employment Type Managerial staff General staff Employee Turnover Rate	女性 按僱員類別劃分 管理人員 普通員工 員工流失率	20 14 33 21.3%	23 16 37 28.3%
						By Age	按年齡劃分
						＜31	＜31	100.0%	66.7%
						31–50	31–50	24.0%	43.3%
						＞50	＞50	14.3%	0%
						By Gender	按性別劃分
						Male	男性	25.9%	40.0%
						Female	女性	15.0%	13.0%
						By Geographical Region	按地區劃分
						Hong Kong	香港	13.8%	3.2%
						Mainland China	中國大陸	41.7%	56.3%
						Taiwan	台灣	16.7%	83.3%
						Percentage of Employees Trained1	受訓僱員百分比	98%	96%
						By Gender	按性別劃分
						Male	男性	100%	97%
						Female	女性	95%	96%
						By Employment Type	按僱員類別劃分
	Training		培訓			Managerial staff General staff Average Training Hours By Gender	管理人員 普通員工 平均培訓時數 按性別劃分	100% 91% 9	100% 95% 17
						Male	男性	11	22
						Female	女性	7	11
						By Employment Type	按僱員類別劃分
						Managerial staff	管理人員	12	30
						General staff	普通員工	8	12
Health	and	Safety		健康及	安全	Work-related incident (case) Lost days due to work-related injury Work-related fatalities	工作相關事故宗數 工傷損失工作日數 工作相關死亡人數	0 0 0	0 0 0

1 The percentage of employees trained is calculated by dividing the number of employees who received training during the reporting year by the total number of employees. The number of employees trained during the reporting year includes employees who left during the year.

1 受訓員工比例按本報告年度內受訓員工人數除以員工總數計算。本報告年度內受訓員工人數已包括於年內離職之員工。

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圓美光電有限公司 2025 年報

Environmental, Social and Governance Report 環境、社會及管治報告

				2025	2024
				二零二五年	二零二四年
Community	社區	Donations (HK$)	捐款（港元）	60,000	60,000
		Total Resources Consumption (MJ)	資源消耗總量（兆焦耳）	761,895	884,359
		Electricity (kWh)	電力（千瓦時）	106,066	117,191
		Gasoline (litres)	汽油（公升）	11,834	14,400
		Tap water (tonnes)	自來水（噸）	242	360
		Energy intensity (MJ/m2)	能源密度
			（兆焦耳╱平方米）	299	267
		Water intensity (tonnes/m2)	水密度（噸╱平方米）	0.63	0.50
		Packaging materials	包裝材料
		Paper (tonnes)	紙（噸）	3	9
		Air Emissions	廢氣排放
Environment	環境	Sulphur oxides (SOx) (kg) Nitrogen oxides (NOx) (kg) Particulate matters (PM) (kg) Waste Paper waste (kg) Paper waste intensity (kg/m2)	硫氧化物（公斤） 氮氧化物（公斤） 懸浮微粒（公斤） 廢棄物 紙張廢棄物（公斤） 紙張廢棄物密度 （公斤╱平方米）	0.2 6.8 0.5 381 0.15	0.2 8.3 0.6 651 0.20
		Greenhouse Gases Emissions and	溫室氣體排放量及密度*
		Intensity*
		Total GHG emissions (tCO2e)	溫室氣體排放總量 （噸二氧化碳當量）	79	93
		Scope 1 (tCO2e)	範圍一 （噸二氧化碳當量）	31	38
		Scope 2 (tCO2e)	範圍二 （噸二氧化碳當量）	48	55
		GHG emission intensity (tCO2e/m2)	溫室氣體排放密度 （噸二氧化碳當量╱
			平方米）	0.03	0.03

Notes:

• 附註：

• (1) Calculation methods used for carbon emissions:

Carbon emissions are calculated using “Greenhouse Gas Protocol” published by the World Resources Institute and World Business Council on Sustainable Development

• (1) 碳排放的計算方法：

• 碳排放乃根據世界資源研究所和世界企業永 續發展委員會出版的《溫室氣體盤查議定書》計 算

The sources of published emission factors for the reporting of carbon emissions are:

• 關於報告碳排放的已刊發排放因子的來源如 下：

• (a) 2024 Sustainability Report of CLP

• (b) “Guidelines to Account for and Report on Greenhouse Gas Emissions and Removals for Buildings (Commercial, Residential or Institutional Purposes) in Hong Kong” published by the Environmental Protection Department

• (a) 中電二零二四年可持續發展報告

• (b) 環境保護署發佈的《香港建築物（商 業、住宅或公共用途）的溫室氣體排放 及減除的核算和報告指引》

• (c) Announcement on the Release of the 2023 Power Sector Carbon Dioxide Emission Factor issued by the Ministry of Ecology and Environment and the National Bureau of Statistics of the People’s Republic of China.

• (c) 中華人民共和國生態環境部和國家統 計局發佈的《關於發佈2023年電力二氧 化碳排放因子的公告》

68

Perfect Optronics Limited Annual Report 2025

Environmental, Social and Governance Report 環境、社會及管治報告

HKEX ESG CODE CONTENT INDEX 香港聯交所環境、社會及管治守則 內容索引

KPIs	Stock Exchange ESG Reporting Code Requirements	Section/Remarks
關鍵績效指標	聯交所環境、社會及管治報告守則要求	章節╱備註
Governance Structure
管治架構
Mandatory	A statement from the board containing the following elements:	Board Statement
Disclosure	董事會聲明載有下列內容：	董事會聲明
強制披露	(i) a disclosure of the board’s oversight of ESG issues;
	披露董事會對環境、社會及管治事宜的監管；
	(ii) the board’s ESG management approach and strategy, including the process used to evaluate, prioritise
	and manage material ESG-related issues (including risks to the issuer’s businesses); and
	董事會的環境、社會及管治管理方法及策略，包括評估、優先排列及管理重要的環境、社會及管治
	相關事宜（包括對發行人業務的風險）的過程；及
	(iii) how the board reviews progress made against ESG-related goals and targets with an explanation of
	how they relate to the issuer’s businesses.
	董事會如何按環境、社會及管治相關目標檢討進度，並解釋如何與發行人業務有關連。
Reporting Principles
報告原則
Mandatory	A description of, or an explanation on, the application of the following Reporting Principles in the	Reporting Guide
Disclosure	preparation of the ESG report:	報告指引
強制披露	描述或解釋在編製環境、社會及管治報告時所應用的以下報告原則︰
	Materiality: The ESG report should disclose: (i) the process to identify and the criteria for the selection
	of material ESG factors; (ii) if a stakeholder engagement is conducted, a description of
	significant stakeholders identified, and the process and results of the issuer’s stakeholder
	engagement.
	重要性： 環境、社會及管治報告應披露：(i)識別重要環境、社會及管治因素的過程及選擇這些因
	素的準則；(ii)如發行人已進行持份者參與，已識別的重要持份者的描述及發行人持份者
	參與的過程及結果。
	Quantitative: Information on the standards, methodologies, assumptions and/or calculation tools used,
	and source of conversion factors used, for the reporting of emissions/energy
	consumption (where applicable) should be disclosed.
	量化： 有關匯報排放量╱能源耗用（如適用）所用的標準、方法、假設及╱或計算工具的資料，
	以及所使用的轉換因素的來源應予披露。
	Consistency: The issuer should disclose in the ESG report any changes to the methods or KPIs used,
	or any other relevant factors affecting a meaningful comparison.
	一致性： 發行人應在環境、社會及管治報告中披露統計方法或關鍵績效指標的變更（如有）或任
	何其他影響有意義比較的相關因素。
Reporting Boundary
報告範圍
Mandatory	A narrative explaining the reporting boundaries of the ESG report and describing the process used to	Reporting Boundary and
Disclosure	identify which entities or operations are included in the ESG report. If there is a change in the scope, the	Period
強制披露	issuer should explain the difference and reason for the change.	報告範圍及期限
	解釋環境、社會及管治報告的匯報範圍，及描述挑選哪些實體或業務納入環境、社會及管治報告的過
	程。如果範圍有變，發行人應解釋其差異及改變的理由。

圓美光電有限公司 2025 年報 69

Environmental, Social and Governance Report 環境、社會及管治報告

KPIs Stock Exchange ESG Reporting Code Requirements 關鍵績效指標 聯交所環境、社會及管治報告守則要求

Section/Remarks 章節╱備註

A. Environmental A. 環境

Aspect A1: Emissions 層面 A1 ：排放物

General Disclosure Information on: OUR ENVIRONMENT 一般披露 有關廢氣及溫室氣體排放、向水及土地的排污、有害及無害廢棄物的產生等的： 我們的環境 a) the policies; and — Addressing Climate 政策；及 Change b) compliance with relevant laws and regulations that have a significant impact on the issuer 應對氣候變化 遵守對發行人有重大影響的相關法律及規例的資料。 — Resources relating to air and greenhouse gas emissions, discharges into water and land, and generation of Management hazardous and non-hazardous waste. 資源管理 KPI A1.1 The types of emissions and the respective emissions data. PERFORMANCE DATA 關鍵績效指標A1.1 排放物種類及相關排放數據。 SUMMARY 數據表現摘要 KPI A1.3 Total hazardous waste produced (in tonnes) and, where appropriate, intensity (e.g. The Group’s operations per unit of production volume, per facility). do not generate 關鍵績效指標A1.3 所產生有害廢棄物總量（以噸計算）及（如適用）密度（如以每產量單位、每項設施 hazardous waste. 計算）。 本集團的營運並不產生 有害廢棄物。 KPI A1.4 Total non-hazardous waste produced (in tonnes) and, where appropriate, intensity OUR ENVIRONMENT (e.g. per unit of production volume, per facility). 我們的環境 關鍵績效指標A1.4 所產生無害廢棄物總量（以噸計算）及（如適用）密度（如以每產量單位、每項設施 — Addressing Climate 計算）。 Change 應對氣候變化 PERFORMANCE DATA SUMMARY 數據表現摘要 KPI A1.5 Description of emission target(s) set and steps taken to achieve them. OUR ENVIRONMENT 關鍵績效指標A1.5 描述所訂立的排放目標及為達到這些目標所採取的步驟。 我們的環境 — Addressing Climate Change 應對氣候變化 KPI A1.6 Description of how hazardous and non-hazardous wastes are handled, and a OUR ENVIRONMENT description of reduction target(s) set and steps taken to achieve them. 我們的環境 關鍵績效指標A1.6 描述處理有害及無害廢棄物的方法、及描述所訂立的減廢目標及為達到這些目 — Addressing Climate 標所採取的步驟。 Change 應對氣候變化 — Resources Management 資源管理

70

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KPIs	Stock Exchange ESG Reporting Code Requirements	Stock Exchange ESG Reporting Code Requirements	Section/Remarks
關鍵績效指標	聯交所環境、社會及管治報告守則要求		章節╱備註
Aspect A2: Use of	Resources
層面A2：資源使用
General Disclosure	Policies on efficient use of resources, including energy, water and other raw materials.		OUR ENVIRONMENT
一般披露	有效使用資源（包括能源、水及其他原材料）的政策。		我們的環境
	KPI A2.1	Direct and/or indirect energy consumption by type (e.g. electricity, gas or oil) in	OUR ENVIRONMENT
		total (kWh in’000s) and intensity (e.g. per unit of production volume, per facility).	我們的環境
	關鍵績效指標A2.1	按類型劃分的直接及╱或間接能源（如電、氣或油）總耗量（以千個千瓦時計算）	— Addressing Climate
		及密度（如以每產量單位、每項設施計算）。	Change
			應對氣候變化
			PERFORMANCE DATA
			SUMMARY
			數據表現摘要
	KPI A2.2	Water consumption in total and intensity (e.g. per unit of production volume, per	OUR ENVIRONMENT
		facility).	我們的環境
	關鍵績效指標A2.2	總耗水量及密度（如以每產量單位、每項設施計算）。	— Resources
			Management
			資源管理
			PERFORMANCE DATA
			SUMMARY
			數據表現摘要
	KPI A2.3	Description of energy use efficiency target(s) set and steps taken to achieve	OUR ENVIRONMENT
		them.	我們的環境
	關鍵績效指標A2.3	描述所訂立的能源使用效益目標及為達到這些目標所採取的步驟。	— Addressing Climate
			Change
			應對氣候變化
	KPI A2.4	Description of whether there is any issue in sourcing water that is fit for purpose,	OUR ENVIRONMENT
		water efficiency target(s) set and steps taken to achieve them.	我們的環境
	關鍵績效指標A2.4	描述求取適用水源上可有任何問題，以及所訂立的用水效益目標及為達到這些	— Resources
		目標所採取的步驟。	Management
			資源管理
			The Company considers
			the Group’s domestic
			water consumption is
			purely for sanitisation
			purpose, and our
			employees will remain
			cautious in identifying
			water leaks and
			wastage.
			本公司認為本集團的生
			活用水僅作清潔用途，
			我們的員工將保持謹慎
			態度，識別漏水及浪費
			食水的情況。
	KPI A2.5	Total packaging materials used for finished products (in tonnes) and, if applicable,	OUR ENVIRONMENT
		with reference to per unit produced.	我們的環境
	關鍵績效指標A2.5	製成品所用包裝材料的總量（以噸計算）及（如適用）每生產單位佔量。	— Resources
			Management
			資源管理
			PERFORMANCE DATA
			SUMMARY
			數據表現摘要

71

圓美光電有限公司 2025 年報

Environmental, Social and Governance Report 環境、社會及管治報告

KPIs Stock Exchange ESG Reporting Code Requirements 關鍵績效指標 聯交所環境、社會及管治報告守則要求

Section/Remarks 章節╱備註

Aspect A3: The Environment and Natural Resources 層面 A3 ：環境及天然資源

General Disclosure Policies on minimising the issuers’ significant impact on the environment and natural resources. 一般披露 減低發行人對環境及天然資源造成重大影響的政策。

KPI A3.1 Description of significant impacts of activities on the environment and natural resources and the actions taken to manage them. 關鍵績效指標A3.1 描述業務活動對環境及天然資源的重大影響及已採取管理有關影響的行動。

• OUR ENVIRONMENT 我們的環境 — Implementing Green Office; 實施綠色辦公室；

• OUR OPERATION 我們的營運 — Green Procurement 綠色採購

OUR ENVIRONMENT 我們的環境 — Implementing Green Office; 實施綠色辦公室； OUR OPERATION 我們的營運 — Green Procurement 綠色採購

B. Social B. 社會 Aspect B1: Employment

層面 B1 ：僱傭

General Disclosure Information on: OUR PEOPLE 一般披露 有關薪酬及解僱、招聘及晉升、工作時數、假期、平等機會、多元化、反歧視以及其他待遇及福利的： 我們的員工 a) the policies; and — Employee Rights 政策；及 and Welfare b) compliance with relevant laws and regulations that have a significant impact on the issuer 僱員權利及福利 遵守對發行人有重大影響的相關法律及規例的資料。 relating to compensation and dismissal, recruitment and promotion, working hours, rest periods, equal opportunity, diversity, anti-discrimination, and other benefits and welfare. KPI B1.1 Total workforce by gender, employment type (for example, full- or part-time), age OUR PEOPLE group and geographical region. 我們的員工 關鍵績效指標B1.1 按性別、僱傭類別（如全職或兼職）、年齡組別及地區劃分的僱員總數。 — Employee Composition 員工組成 PERFORMANCE DATA SUMMARY 數據表現摘要 KPI B1.2 Employee turnover rate by gender, age group and geographical region. OUR PEOPLE 關鍵績效指標B1.2 按性別、年齡組別及地區劃分的僱員流失比率。 我們的員工 — Employee Composition 員工組成 PERFORMANCE DATA SUMMARY 數據表現摘要

72

Perfect Optronics Limited Annual Report 2025

Environmental, Social and Governance Report 環境、社會及管治報告

KPIs Stock Exchange ESG Reporting Code Requirements 關鍵績效指標 聯交所環境、社會及管治報告守則要求

Section/Remarks 章節╱備註

Aspect B2: Health and Safety 層面 B2 ：健康與安全

General Disclosure Information on: OUR PEOPLE 一般披露 有關提供安全工作環境及保障僱員避免職業性危害的： 我們的員工 a) the policies; and — Occupational 政策；及 Health and Safety b) compliance with relevant laws and regulations that have a significant impact on the issuer 職業健康與安全 遵守對發行人有重大影響的相關法律及規例的資料。 relating to providing a safe working environment and protecting employees from occupational hazards. KPI B2.1 Number and rate of work-related fatalities occurred in each of the past three PERFORMANCE DATA years including the reporting year. SUMMARY 關鍵績效指標B2.1 過去三年（包括匯報年度）每年因工亡故的人數及比率。 數據表現摘要 KPI B2.2 Lost days due to work injury. PERFORMANCE DATA SUMMARY 關鍵績效指標B2.2 因工傷損失工作日數。 數據表現摘要 KPI B2.3 Description of occupational health and safety measures adopted, and how they OUR PEOPLE are implemented and monitored. 我們的員工 關鍵績效指標B2.3 描述所採納的職業健康與安全措施，以及相關執行及監察方法。 — Occupational

PERFORMANCE DATA SUMMARY 數據表現摘要

PERFORMANCE DATA SUMMARY 數據表現摘要 OUR PEOPLE 我們的員工 — Occupational Health and Safety 職業健康與安全

Aspect B3: Development and Training 層面 B3 ：發展及培訓

General Disclosure Policies on improving employees’ knowledge and skills for discharging duties at work. Description of 一般披露 training activities. 有關提升僱員履行工作職責的知識及技能的政策。描述培訓活動。

KPI B3.1 The percentage of employees trained by gender and employee category (e.g. senior management, middle management). 關鍵績效指標B3.1 按性別及僱員類別（如高級管理層、中級管理層）劃分的受訓僱員百分比。

KPI B3.2 The average training hours completed per employee by gender and employee category. 關鍵績效指標B3.2 按性別及僱員類別劃分，每名僱員完成受訓的平均時數。

OUR PEOPLE 我們的員工 — Training and Development 培訓及發展

OUR PEOPLE 我們的員工 — Training and Development 培訓及發展 PERFORMANCE DATA SUMMARY 數據表現摘要 OUR PEOPLE 我們的員工 — Training and Development 培訓及發展 PERFORMANCE DATA SUMMARY 數據表現摘要

73

圓美光電有限公司 2025 年報

Environmental, Social and Governance Report 環境、社會及管治報告

KPIs Stock Exchange ESG Reporting Code Requirements 關鍵績效指標 聯交所環境、社會及管治報告守則要求

Section/Remarks 章節╱備註

Aspect B4: Labour Standards 層面 B4 ：勞工準則

General Disclosure Information on: OUR PEOPLE 一般披露 有關防止童工及強制勞工的： 我們的員工 a) the policies; and — Labour Practices 政策；及 勞工常規 b) compliance with relevant laws and regulations that have a significant impact on the issuer 遵守對發行人有重大影響的相關法律及規例的資料。 relating to prevention of child and forced labour. KPI B4.1 Description of measures to review employment practices to avoid child and forced OUR PEOPLE labour. 我們的員工 關鍵績效指標B4.1 描述檢討招聘慣例的措施以避免童工及強制勞工。 — Labour Practices 勞工常規 KPI B4.2 Description of steps taken to eliminate such practices when discovered. OUR PEOPLE 關鍵績效指標B4.2 描述在發現違規情況時消除有關情況所採取的步驟。 我們的員工 — Labour Practices 勞工常規

Aspect B5: Supply Chain Management 層面 B5 ：供應鏈管理

General Disclosure	Policies on managing	environmental and social risks of the supply chain.	OUR	OPERATION
一般披露	管理供應鏈的環境及社會風險政策。		我們的營運
			—	Supply Chain
				Management
				供應鏈管理
	KPI B5.1	Number of suppliers by geographical region.	OUR	OPERATION
	關鍵績效指標B5.1	按地區劃分的供應商數目。	我們的營運
			—	Supply Chain
				Management
				供應鏈管理
	KPI B5.2	Description of practices relating to engaging suppliers, number of suppliers where	OUR	OPERATION
		the practices are being implemented, and how they are implemented and	我們的營運
		monitored.	—	Supply Chain
	關鍵績效指標B5.2	描述有關聘用供應商的慣例，向其執行有關慣例的供應商數目，以及相關執行及		Management
		監察方法。		供應鏈管理
	KPI B5.3	Description of practices used to identify environmental and social risks along the	OUR	OPERATION
		supply chain, and how they are implemented and monitored.	我們的營運
	關鍵績效指標B5.3	描述有關識別供應鏈每個環節的環境及社會風險的慣例，以及相關執行及監察	—	Supply Chain
		方法。		Management
				供應鏈管理
			—	Green
				Procurement
				綠色採購
	KPI B5.4	Description of practices used to promote environmentally preferable products and	OUR	OPERATION
		services when selecting suppliers, and how they are implemented and monitored.	我們的營運
	關鍵績效指標B5.4	描述在揀選供應商時促使多用環保產品及服務的慣例，以及相關執行及監察方	—	Supply Chain
		法。		Management
				供應鏈管理
			—	Green
				Procurement
				綠色採購

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KPIs	Stock Exchange ESG	Stock Exchange ESG	Reporting Code Requirements	Section/Remarks	Section/Remarks
關鍵績效指標	聯交所環境、社會及管治報告守則要求			章節╱備註
Aspect B6: Product	Responsibility
層面B6：產品責任
General Disclosure	Information on:			OUR	OPERATION
一般披露	有關所提供產品和服務的健康與安全、廣告、標籤及私隱事宜以及補救方法的：			我們的營運
	a)	the policies; and		—	Product
		政策；及			Responsibility
	b)	compliance with relevant laws and regulations that have a significant impact on the issuer			產品責任
		遵守對發行人有重大影響的相關法律及規例的資料。
	relating to health and		safety, advertising, labelling and privacy matters relating to products and services
	provided and methods of redress.
	KPI	B6.1	Percentage of total products sold or shipped subject to recalls for safety and	OUR	OPERATION
			health reasons.	我們的營運
	關鍵績效指標B6.1		已售或已搬運產品總數中因安全與健康由而須回收的百分比。	—	Product
					Responsibility
					產品責任
	KPI	B6.2	Number of products and service related complaints received and how they are	OUR	OPERATION
			dealt with.	我們的營運
	關鍵績效指標B6.2		接獲關於產品及服務的投訴數目以及應對方法。	—	Product
					Responsibility
					產品責任
	KPI	B6.3	Description of practices relating to observing and protecting intellectual property	OUR	OPERATION
			rights.	我們的營運
	關鍵績效指標B6.3		描述與維護及保障知識產權有關的慣例。	—	Product
					Responsibility
					產品責任
	KPI	B6.4	Description of quality assurance process and recall procedures.	OUR	OPERATION
	關鍵績效指標B6.4		描述質量檢定過程及產品回收程序。	我們的營運
				—	Product
					Responsibility
					產品責任
	KPI	B6.5	Description of consumer data protection and privacy policies, and how they are	OUR	OPERATION
			implemented and monitored.	我們的營運
	關鍵績效指標B6.5		描述消費者資料保護及私穩政策，以及相關執行及監察方法。	—	Product
					Responsibility
					產品責任

75

圓美光電有限公司 2025 年報

Environmental, Social and Governance Report 環境、社會及管治報告

KPIs	Stock Exchange ESG Reporting Code Requirements	Stock Exchange ESG Reporting Code Requirements	Section/Remarks	Section/Remarks
關鍵績效指標	聯交所環境、社會及管治報告守則要求		章節╱備註
Aspect B7: Anti-corruption
層面B7：反貪污
General Disclosure	Information on:		OUR	OPERATION
一般披露	有關防止賄賂、勒索、欺詐及洗黑錢的：		我們的營運
	a) the policies; and		—	Anti-corruption
	政策；及			反貪污
	b) compliance with relevant laws and regulations that have a significant impact on the issuer
	遵守對發行人有重大影響的相關法律及規例的資料。
	relating to bribery, extortion, fraud and money laundering.
	KPI B7.1	Number of concluded legal cases regarding corrupt practices brought against the	OUR	OPERATION
		issuer or its employees during the reporting period and the outcomes of the	我們的營運
		cases.	—	Anti-corruption
	關鍵績效指標B7.1	於匯報期內對發行人或其僱員提出並已審結的貪污訴訟案件的數目及訴訟結果。		反貪污
	KPI B7.2	Description of preventive measures and whistle-blowing procedures, how they are	OUR	OPERATION
		implemented and monitored.	我們的營運
	關鍵績效指標B7.2	描述防範措施及舉報程序，以及相關執行及監察方法。	—	Anti-corruption
				反貪污
	KPI B7.3	Description of anti-corruption training provided to directors and staff.	OUR	OPERATION
	關鍵績效指標B7.3	描述向董事及員工提供的反貪污培訓。	我們的營運
			—	Anti-corruption
				反貪污
Aspect B8: Community Investment
層面B8：社區投資
General Disclosure	Policies on community engagement to understand the needs of the communities where the issuer		OUR	COMMUNITY
一般披露	operates and to ensure its activities take into consideration the communities’ interests.		我們的社區
	有關以社區參與來了解營運所在社區需要和確保其業務活動會考慮社區利益的政策。
	KPI B8.1	Focus areas of contribution (e.g. education, environmental concerns, labour	OUR	COMMUNITY
		needs, health, culture, sport).	我們的社區
	關鍵績效指標B8.1	專注貢獻範疇（如教育、環境事宜、勞工需求、健康、文化、體育）。
	KPI B8.2	Resources contributed (e.g. money or time) to the focus area.	OUR	COMMUNITY
	關鍵績效指標B8.2	在專注範疇所動用資源（如金錢或時間）。	我們的社區
			PERFORMANCE DATA
			SUMMARY
			數據表現摘要

76

Perfect Optronics Limited Annual Report 2025

Biographical Details of Directors and Senior Management 董事及高級管理層個人資料

EXECUTIVE DIRECTORS

執行董事

Mr. Cheng Wai Tak, aged 56, was appointed as director of the Company on 13 June 2013. Mr. Cheng is a founder of the Group. He has been in the business of trading TFT-LCD components for over 20 years and has established close relationships with various suppliers. He graduated from Hong Kong Baptist University with a bachelor of science in combined sciences in mathematical science degree. Pending the outcome of the legal proceedings of the Petition, Mr. Cheng has been suspended from his duties as an executive Director, the chairman of the Board, the chief executive officer of the Company and the director of Perfect Display Limited, a major subsidiary of the Company, effective from 25 September 2020. He continues to serve the Company as a consultant to bring in businesses and maintain the relationship with business partners. He is also a substantial shareholder of the Company. Save as disclosed above, Mr. Cheng is also a director of certain subsidiaries of the Group.

Mr. Liu Ka Wing, aged 53, was appointed as an executive Director on 18 June 2013. He joined the Group in November 2008. Mr. Liu has over 30 years of experience in accounting. Prior to joining the Group, he worked in various certified public accountants firm and corporations, responsible for general accounting functions. He is responsible for the Group’s finance and administrative functions. Pending the outcome of the legal proceedings of the Petition, Mr. Liu has been suspended from his duties as an executive Director effective from 25 September 2020 and he continues to serve the Company as the financial controller. Mr. Liu is also a director of certain subsidiaries of the Group.

Mr. Tse Ka Wing, aged 50, joined the Group in May 2013 and is the Company Secretary and Chief Financial Officer of the Company. He was appointed as an executive Director with effect from 26 March 2015. He is primarily responsible for the financial management, supervision of financial reporting and corporate finance matters, and company secretarial matters of the Group. Mr. Tse graduated from The Chinese University of Hong Kong with a bachelor of business administration degree. He is a fellow of the Hong Kong Institute of Certified Public Accountants and a member of the Association of Chartered Certified Accountants. Mr. Tse is a professional accountant with over 28 years of experience in accounting and had previously served as a senior manager of an international firm of certified public accountants. Pending the outcome of the legal proceedings of the Petition, Mr. Tse has been suspended from his duties as an executive Director effective from 25 September 2020 and he continues to serve the Company as the chief financial officer and the company secretary.

鄭偉德先生，56歲，於二零一三年六月十三日 獲委任為本公司董事。鄭先生為本集團創立 人，在TFT-LCD部件貿易業務中有超過20年經 驗，與多間供應商建立了緊密關係。彼畢業於 香港浸會大學，獲頒授綜合科學理學士學位， 主修數學科學。待呈請的法律程序得出結果之 前，鄭先生已暫停其作為執行董事、董事會主 席、本公司行政總裁及本公司主要附屬公司圓 美顯示有限公司董事的職務，自二零二零年九 月二十五日起生效。彼繼續以顧問身份為本公 司服務，以引進業務及維持與業務夥伴的關 係。彼亦為本公司之主要股東。除上文所披露 者外，鄭先生亦為本集團若干附屬公司之董事。

廖嘉榮先生，53歲，於二零一三年六月十八日 獲委任為執行董事。彼於二零零八年十一月加 入本集團。廖先生於會計方面有超過30年經 驗。於加入本集團前，彼曾於多間執業會計師 事務所及企業工作，負責一般會計職能。彼負 責本集團的財務及行政職能。待呈請的法律程 序得出結果之前，廖先生已暫停其作為執行董 事的職務，自二零二零年九月二十五日起生 效，並繼續擔任本公司的財務主管。廖先生亦 為本集團若干附屬公司之董事。

謝家榮先生，50歲，於二零一三年五月加盟本 集團，並擔任本公司的公司秘書及財務總監。 彼於二零一五年三月二十六日起獲委任為執行 董事。彼主要負責本集團之財務管理、財務申 報之監督及企業融資事務以及秘書事宜。謝先 生畢業於香港中文大學，持有工商管理學士學 位。彼為香港會計師公會資深會員及英國特許 公認會計師公會會員。謝先生為專業會計師， 於會計界有超過28年經驗，彼過往曾於一間國 際會計師事務所任職高級經理。待呈請的法律 程序得出結果之前，謝先生已暫停其作為執行 董事的職務，自二零二零年九月二十五日起生 效，並繼續擔任本公司財務總監及公司秘書。

77

圓美光電有限公司 2025 年報

Biographical Details of Directors and Senior Management 董事及高級管理層個人資料

Mr. Chang Huan Chia, aged 48, was appointed as an executive Director on 25 September 2020. He obtained a bachelor degree in electrical engineering from Yuan Ze University in Taiwan in 2001 and an executive master of business administration degree from National Cheng Kung University in Taiwan in 2024. He has over 20 years of experience in the technology and electronics industry. Prior to joining the Group in September 2016, Mr. Chang was a field application engineer and served as an assistant manager in HannStar Display Corporation and a project manager in Fitipower Integrated Technology Inc. He is responsible for supervising the sales teams of the Group. He is the chief executive officer and a director of Perfect Intelligent Technology Limited, a subsidiary of the Group. He is also a director of certain subsidiaries of the Group and the responsible person of a Taiwan branch of the Group.

INDEPENDENT NON-EXECUTIVE DIRECTORS

Mr. Kan Man Wai, aged 62, was appointed as an independent non-executive Director on 1 January 2020 and is responsible for providing independent judgment on issues of strategy, performance, resources and standard of conduct of the Company. He is the acting chairman of the Board. He is also the chairman of the remuneration committee of the Company and a member of the audit committee and nomination committee of the Company. Mr. Kan obtained a Diploma in Management Studies awarded by The Hong Kong Polytechnic University and the Hong Kong Management Association, and subsequently obtained a Master’s Degree of Business Administration in International Management from the Royal Melbourne Institute of Technology in Australia. He has over 30 years of experience in the electronics manufacturing services industry, including over 20 years of experience at management level of sales and business development and 4 years of experience in management level of business operations. Mr. Kan is currently a Deputy Program Management Director of PC Partner Group Limited (a company listed on the Singapore Exchange Securities Trading Limited (stock code: PCT)) which he joined in November 2024. Mr. Kan had previously served as a Vice President of Business Development for Great China and Korea of Sanmina Corporation, a leading electronics manufacturing services provider in the world that serves original equipment manufacturers in communications, medical, automotive, industrial and defense and aerospace fields which is headquartered in San Jose, California, USA and is listed on the Nasdaq Stock Market.

Note: The executive Directors are the only senior management of the Company.

張桓嘉先生，48歲，於二零二零年九月二十五 日獲委任為執行董事。彼於二零零一年在台灣 元智大學獲得電機工程學士學位，並於二零 二四年在台灣國立成功大學取得管理學碩士學 位。彼在科技及電子行業擁有超過20年的經 驗。在二零一六年九月加入本集團前，張先生 為一名現場應用工程師，並曾在瀚宇彩晶股份 有限公司擔任助理經理，以及於天鈺科技股份 有限公司擔任項目經理。彼負責監督本集團的 銷售團隊。彼為本集團附屬公司圓美智能科技 有限公司的行政總裁兼董事。彼亦為本集團若 干附屬公司之董事，並為本集團一間台灣分公 司之負責人。

獨立非執行董事

簡文偉先生，62歲，於二零二零年一月一日獲 委任為獨立非執行董事，負責提供有關本公司 的策略、表現、資源及操守水準的獨立判斷。 彼為董事會的代理主席。彼亦為本公司薪酬委 員會主席以及本公司審核委員會及提名委員會 成員。簡先生曾獲香港理工大學及香港管理專 業協會頒發管理學文憑，及後獲澳洲墨爾本皇 家理工大學頒發國際管理工商管理碩士學位。 彼於電子製造服務業擁有超過30年經驗，包括 於銷售及業務發展管理層面的超過20年經驗， 以及於業務營運管理層面的4年經驗。簡先生現 為PC Partner Group Limited（新加坡證券交易 所上市公司（股份代號：PCT ））的項目管理副總 監，彼於二零二四年十一月加盟該公司。簡先 生曾為 Sanmina Corporation大中華及韓國業務 發展副總裁(Vice President of Business Development for Great China and Korea) ，該公 司為全球領先的電子製造服務供應商，在通 訊、醫療、汽車、工業及國防及航空航天方面 為原設備製造商提供服務。其總部位於美國加 州聖荷西，並於納斯達克證券交易所上市。

附註： 執行董事為本公司唯一的高級管理層。

78

Perfect Optronics Limited Annual Report 2025

Biographical Details of Directors and Senior Management 董事及高級管理層個人資料

Ms. Hsu Wai Man Helen, aged 56, was appointed as an independent non-executive Director on 25 September 2020 and is responsible for providing independent judgment on issues of strategy, performance, resources and standard of conduct of the Company. She is the chairperson of the audit committee of the Company. She is also a member of the nomination committee and remuneration committee of the Company. Ms. Hsu graduated from The Chinese University of Hong Kong with a bachelor degree in business administration. Ms. Hsu is a fellow of the Hong Kong Institute of Certified Public Accountants and a member of the American Institute of Certified Public Accountants. She has more than 20 years of experience in accounting. Ms. Hsu had been working with Ernst & Young for 18 years and was a partner of Ernst & Young before she retired from the firm in February 2011. Ms. Hsu is currently an independent non-executive director of Richly Field China Development Limited (stock code: 313), China Display Optoelectronics Technology Holdings Limited (stock code: 334), Perfect Medical Health Management Limited (stock code: 1830), Beijing Gas Blue Sky Holdings Limited (stock code: 6828) and Guolian Minsheng Securities Company Limited (stock code: 1456), the shares of which are listed on the Main Board of the Stock Exchange. Guolian Minsheng Securities Company Limited is also listed on the Shanghai Stock Exchange (stock code: 601456).

Mr. Lau Ngai Kee Ricky, aged 59, was appointed as an independent non-executive Director on 1 July 2024 and is responsible for providing independent judgment on issues of strategy, performance, resources and standard of conduct of the Company. He is the chairman of the nomination committee of the Company. He is also a member of the audit committee and remuneration committee of the Company. Over the past three years, Mr. Lau was an independent non-executive director of Macau Legend Development Limited, a company listed on the Stock Exchange (stock code: 1680) from December 2020 to December 2025. Mr. Lau was also an independent non-executive director of New Horizon Health Limited (stock code: 6606) from April 2024 to April 2025, the listing of the shares of which on the Stock Exchange was cancelled in October 2025. Mr. Lau obtained a professional diploma in accountancy from Hong Kong Polytechnic in November 1989. Mr. Lau is a Practising Certified Public Accountant and a fellow of the Hong Kong Institute of Certified Public Accountants and the Association of Chartered Certified Accountants. He has over 30 years of experience in auditing and accounting with extensive experience in areas of initial public offering, merger and acquisition and corporate finance exercise. He had served Deloitte Touche Tohmatsu for 25 years from 1993 to 2018 and had been a partner thereof for 17 years. He is currently a senior director of Moore CPA Limited.

徐慧敏女士，56歲，於二零二零年九月二十五 日獲委任為獨立非執行董事，負責提供有關本 公司策略、表現、資源及操守水準的獨立判斷。 彼為本公司審核委員會主席。彼亦為本公司提 名委員會及薪酬委員會成員。徐女士畢業於香 港中文大學，取得工商管理學士學位。徐女士 為香港會計師公會資深會員及美國註冊會計師 協會會員。彼於會計方面擁有逾20年經驗。徐 女士曾在安永會計師事務所任職18年，於二零 一一年二月退任時為安永會計師事務所的合夥 人。徐女士現時為裕田中國發展有限公司（股份 代號：313）、華顯光電技術控股有限公司（股份 代號：334）、完美醫療健康管理有限公司（股份 代號：1830）、北京燃氣藍天控股有限公司（股 份代號：6828）及國聯民生證券股份有限公司 （股份代號：1456）的獨立非執行董事，該等公 司的股份均於聯交所主板上市。國聯民生證券 股份有限公司亦於上海證券交易所上市（股份 代號： 601456）。

劉毅基先生，59歲，於二零二四年七月一日獲 委任為獨立非執行董事，負責提供有關本公司 策略、表現、資源及操守水準的獨立判斷。彼 為本公司提名委員會主席。彼亦為本公司審核 委員會及薪酬委員會成員。於過去三年，劉先 生由二零二零年十二月至二零二五年十二月擔 任聯交所上市公司Macau Legend Development Limited（股份代號：1680）獨立非執行董事。劉 先生士亦曾於二零二四年四月至二零二五年四 月擔任和諾輝健康（股份代號：6606）的獨立非 執行董事，該公司的股份於二零二五年十月於 聯交所取消上市。劉先生於一九八九年十一月 於香港理工學院取得會計專業文憑。劉先生為 執業會計師，並為香港會計師公會及英國特許 公認會計師公會資深會員。彼具備逾30年的審 計及會計經驗，並於首次公開招股、併購以及 企業融資活動方面擁有豐富經驗。一九九三年 至二零一八年，彼曾為德勤 • 關黃陳方會計師 行工作25年，並擔任其合夥人17年。彼目前為 大華馬施雲會計師事務所有限公司的高級董事。

79

圓美光電有限公司 2025 年報

Report of the Directors 董事會報告

The Directors present their report together with the audited financial statements for the year ended 31 December 2025 (the “Year”).

CORPORATE INFORMATION

The Company was incorporated in the Cayman Islands as an exempted company with limited liability on 13 June 2013 under the Companies Law of the Cayman Islands. The Company’s shares were listed on the GEM (“GEM”) of The Stock Exchange of Hong Kong Limited (the “Stock Exchange”) on 7 February 2014.

PRINCIPAL ACTIVITIES AND BUSINESS REVIEW

The principal activity of the Company is investment holding. The principal activities of the subsidiaries are set out in Note 13 to the consolidated financial statements. There were no significant changes in the nature of the Group’s principal activities during the Year.

Business review of the Group for the year ended 31 December 2025 as required by Schedule 5 to the Hong Kong Companies Ordinance, including a description of the principal risks and uncertainties facing the Group and an indication of likely future development in the Group’s business, can be found on pages 5 to 18 and pages 30 to 32 of this annual report which forms part of this directors’ report.

An analysis of the Group’s performance for the Year by operating segment is set out in Note 5 to the consolidated financial statements.

ENVIRONMENTAL POLICIES AND PERFORMANCE

To help conserve the environment, the Group has implemented policies to encourage its employees for the efficient use of energy and resources. Besides, the Group has internal control measures in place to ensure that its suppliers comply with the relevant environmental laws and regulations.

In addition, details regarding the Group’s environmental policies and performance can be found in the Environmental, Social and Governance Report set out on pages 39 to 76 of this annual report.

RESULTS AND APPROPRIATIONS

The results of the Group for the Year are set out in the consolidated statement of comprehensive income.

The board of directors of the Company (the “Board”) do not recommend the payment of a dividend for the year ended 31 December 2025 (2024 Nil).

董事謹此呈列其截至二零二五年十二月三十一 日止年度（「本年度」）之報告連同經審核財務報 表。

企業資料

本公司於二零一三年六月十三日根據開曼群島 公司法於開曼群島註冊成立為一間獲豁免有限 公司。本公司股份於二零一四年二月七日於香 港聯合交易所有限公司（「聯交所」）GEM （「 GEM 」）上市。

主要業務及業務回顧

本公司之主要業務為投資控股。附屬公司的主 要業務載列於綜合財務報表附註13。本年度 內，本集團主要業務性質概無重大改變。

《香港公司條例》附表5規定之本集團截至二零 二五年十二月三十一日止年度之業務審視，包 括本集團面對之主要風險及不明朗因素的描 述，以及本集團相當可能有的未來發展的揭 示，載於本年報第5至18頁及第30至32頁內，其 構成本董事會報告一部分。

本年度按經營分部分類之本集團業績表現分析 載列於綜合財務報表附註5。

環保政策及表現

為協助保護環境，本集團已推行政策鼓勵僱員 有效利用能源及資源。此外，本集團設有內部 監控措施，確保其供應商符合相關環保法律及 法規。

此外，關於本集團環境政策及表現之詳情，載 於本年報第39至76頁的「環境、社會及管治報 告」內。

業績及分派

本年度之本集團業績載列於綜合全面收益表。

本公司董事會（「董事會」）並不建議派付截至二 零二五年十二月三十一日止年度之股息（二零 二四年：無）。

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Perfect Optronics Limited Annual Report 2025

Report of the Directors 董事會報告

SHARE CAPITAL

There were no movements in the Company’s share capital during the Year.

DISTRIBUTABLE RESERVES

Distributable reserves of the Company as at 31 December 2025 amounted to approximately HK$6,314,000 (2024: HK$34,736,000).

DONATIONS

Charitable and other donations made by the Group during the Year amounted to HK$60,000 (2024: HK$60,000).

PRE-EMPTIVE RIGHTS

There is no provision for pre-emptive rights under the Company’s articles of association and there was no restriction against such rights under the laws of Cayman Islands, which would oblige the Company to offer new shares on a pro-rata basis to existing shareholders.

SUMMARY FINANCIAL INFORMATION

A summary of the published results and assets, liabilities and non-controlling interests of the Group, as extracted from the consolidated financial statements of the Company for the years ended 31 December 2021, 31 December 2022, 31 December 2023, 31 December 2024 and 31 December 2025, is set out on page 176 of this annual report. This summary does not form part of the audited financial statements.

PURCHASE, SALE OR REDEMPTION OF SECURITIES

During the year ended 31 December 2025, the Company did not redeem any of its shares, and neither did the Company nor any of its subsidiaries purchase or sell any of the Company’s shares. The Company did not hold or sell any treasury shares during the Year.

SHARE OPTION SCHEMES

The Company had a share option scheme (the “2014 Share Option Scheme”) which was approved and adopted by the then sole shareholder of the Company by way of written resolutions passed on 20 January 2014. The 2014 Share Option Scheme expired on 19 January 2024 and a new share option scheme of the Company (the “2024 Share Option Scheme”) was approved and adopted at the annual general meeting of the Company held on 18 June 2024.

股本

年內，本公司的股本概無發生變動。

可分派儲備

本公司於二零二五年十二月三十一日的可分 派儲備約6,314,000港元（二零二四年： 34,736,000港元）。

捐款

於本年度，本集團作出的慈善及其他捐款之金 額為60,000港元（二零二四年：60,000港元）。

優先購買權

本公司之組織章程細則並無有關本公司須按比 例向現有股東提呈發售新股份之優先購買權規 定，而開曼群島法律並無有關此方面的權利限 制。

財務資料摘要

本集團的公佈業績與資產、負債及非控股權益 載列於本年報第176頁，有關資料乃摘錄自本公 司截至二零二一年十二月三十一日、二零二二 年十二月三十一日、二零二三年十二月三十一 日、二零二四年十二月三十一日及二零二五年 十二月三十一日止年度的綜合財務報表。本摘 要並不構成經審核財務報表的一部分。

購買、出售及贖回證券

於截至二零二五年十二月三十一日止年度，本 公司並無贖回其任何股份，而本公司及其任何 附屬公司亦無購買或出售本公司任何股份。本 公司於本年度並無持有或出售任何庫存股份。

購股權計劃

本公司有一購股權計劃（「二零一四年購股權計 劃」）透過本公司當時唯一股東於二零一四年一 月二十日通過的書面決議案而獲通過及採納。 二零一四年購股權計劃於二零二四年一月十九 日期滿，而另一新的購股權計劃（「二零二四年 購股權計劃」）已於二零二四年六月十八日舉行 的本公司股東週年大會上獲通過及採納。

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圓美光電有限公司 2025 年報

Report of the Directors 董事會報告

The following is a summary of the principal terms of the 2024 Share Option Scheme.

(a) Purpose of the 2024 Share Option Scheme

The purpose of the 2024 Share Option Scheme is for the Company to attract, retain and motivate talented participants to strive for future developments and expansion of the Group and to provide the Company with a flexible means of giving incentive to, rewarding, remunerating, compensating and/or providing benefits to the Participants and for such other purposes as the Board may approve from time to time.

(b) Participants of the 2024 Share Option Scheme

Participants of the 2024 Share Option Scheme include:

• (i) Employee participant(s), which means the director(s) and employee(s) of the Company or any of its subsidiaries (including persons who are granted options under the 2024 Share Option Scheme as an inducement to enter into employment contracts with the Company or any of its subsidiaries), provided that the Board shall have absolute discretion to determine whether or not one falls within such category;

• (ii) Related entity participant(s), which means the director(s) and employee(s) of the holding companies, fellow subsidiaries or associated companies of the Company, provided that the Board shall have absolute discretion to determine whether or not one falls within such category; and

• (iii) Service provider(s); which means person(s) who provide(s) services to the Group on a continuing or recurring basis in its ordinary and usual course of business which are in the interests of the long-term growth of the Group, including but not limited to person(s) who work(s) for the Company as independent contractors (including advisers, consultants, contractors, suppliers, agents, entities providing research, development or other technological support and service providers of any member of the Group) where the continuity and frequency of their services are akin to those of employees, but excluding placing agents or financial advisers providing advisory services for fundraising, mergers or acquisitions or professional service providers such as auditors or valuers who provide assurance, or are required to perform their services with impartiality and objectivity.

下文為二零二四年購股權計劃的主要條款概述。

(a) 二零二四年購股權計劃的目的

二零二四年購股權計劃旨在令本公司吸 納、挽留及激勵表現優秀之參與者為本集 團將來發展及擴展作出努力，以及令本公 司可以採用靈活方式，藉以鼓勵、獎勵、 酬謝、補償及╱或提供福利予參與者，以 及達成董事會不時可能批准之任何其他目 的。

(b) 二零二四年購股權計劃的參加者

二零二四年購股權計劃的參加者包括：

• (i) 僱員參與者，指本公司或其任何附 屬公司的董事及僱員（倘某人根據二 零二四年購股權計劃獲授購股權， 作為與本公司或其任何附屬公司訂 立僱傭合約的誘因，亦屬於僱員參 與者），而董事會可全權酌情決定某 人是否屬於此類人士；

• (ii) 關聯實體參與者，指本公司之控股 公司、同系附屬公司或聯營公司的 董事及僱員，而董事會可全權酌情 決定某人是否屬於此類人士；及

• (iii) 服務提供者，指於本集團日常及一 般業務營運中持續或經常為本集團 提供有利於本集團長遠發展的服務 的人士，包括但不限於服務的持續 性及頻率與該等僱員相若並以獨立 承包商身份為本公司工作的人士（包 括顧問、諮詢人、承包商、供應商、 代理人、提供研發或其他技術支援 的實體及本集任何成員公司的服務 提供者），但不包括就集資或併購提 供諮詢服務的配售代理或財務顧 問，亦不包括提供鑒證服務或需要 公正客觀地提供服務的專業服務提 供者（如核數師或估值師）。

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Perfect Optronics Limited Annual Report 2025

Report of the Directors 董事會報告

(c) Duration and the remaining life of the 2024 Share Option Scheme

The 2024 Share Option Scheme shall be valid and effective for a period of 10 years commencing 18 June 2024.

(d) Timing for exercising option and vesting period

An option may be exercised in accordance with the terms of the 2024 Share Option Scheme at any time during the option period after the option has been granted by the Board. The option period is a period to be determined by the Board at its absolute discretion and notified by the Board to each grantee as being the period during which an option may be exercised and in any event, such period shall not be longer than 10 years from the date upon which any particular option is granted in accordance with the 2024 Share Option Scheme.

The vesting period for options under the 2024 Share Option Scheme shall not be less than 12 months.

(e) Acceptance and payment on acceptance of option offer

An offer shall be deemed to have been accepted by the grantee and the option to which the offer relates shall be deemed to have been granted and to have taken effect on the date of the offer when the duplicate of the letter of offer comprising acceptance of the offer duly signed by the Grantee together with a remittance in favour of the Company of HK$1 by way of consideration for the granting thereof is received by the Company within 28 days from the date of the offer, provided that no such offer shall be open for acceptance as on and after the 10th anniversary from 18 June 2024 or as on and after the date when the 2024 Share Option Scheme has been terminated in accordance with the provisions thereof, whichever is the earlier. Such remittance shall in no circumstances be refundable or be considered as part of the subscription price.

(f) Subscription price

The subscription price in respect of each Share to be issued (or treasury share to be transferred, as applicable) pursuant to the exercise of options granted shall be a price solely determined by the Board and notified to a participant and shall be at least the higher of:

• (i) the closing price of the Shares as stated in the Stock Exchange’s daily quotations sheet on the date of the offer, which must be a business day; and

(c) 二零二四年購股權計劃的期限及尚餘的有 效期

二零二四年購股權計劃自二零二四年六月 十八日期起計有效期為十年。

(d) 行使購股權的時間及歸屬期

購股權可於董事會授出購股權後之購股權 期間內隨時根據二零二四年購股權計劃之 條款行使。購股權期間指可以行使購股權 的期間，該期間由董事會全權酌情釐訂， 並由董事會通知各承授人，無論於任何情 況下，均不會超過根據二零二四年購股權 計劃獲授特定購股權當日起計10年。

二零二四年購股權計劃下購股權的歸屬期 不得少於12個月。

(e) 接納及接納購權股要約所付的款項

當本公司於要約日起計28日內已接獲由承 授人妥為簽署接納要約之要約函件副本， 連同以本公司為受益人之匯款1港元（作為 獲授購股權之代價）時，該要約應被視為 已被承授人接受且要約相關之購股權被視 作已獲授予，及被視為於要約日起生效， 惟於二零二四年六月十八日起計第十週年 當日及之後或於二零二四年購股權計劃根 據其條款終止當日及之後（以較早者為 準），有關要約概不可供接納。該匯款在 任何情況下均不予退還，且並不構成認購 價之任何部分。

(f) 認購價

因據授出的購股權獲行使而發行的每股股 份（或轉讓的庫存股份（如適用））的認購價 須由董事會全權釐定並知會參與者，且應 至少為下列之較高者：

• (i) 股份於要約日（必須為營業日）在聯 交所每日報價表所報的收市價；及

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圓美光電有限公司 2025 年報

Report of the Directors 董事會報告

• (ii) the average closing price of the Shares as stated in the Stock Exchange’s daily quotations sheets for the 5 business days immediately preceding the date of the offer.

• (g) Maximum number of Shares available for subscription

Subject to the GEM Listing Rules:

• (i) The total number of Shares which may be issued (and, together with treasury shares which may be sold or transferred, as applicable) in respect of all options to be granted under the 2024 Share Option Scheme shall not (when aggregated with any Shares subject to any other share option scheme(s) and share award scheme(s) that involve(s) the issuance of new Shares and the transfer of treasury shares) in aggregate exceed 148,368,715, representing 10% of the total number of Shares in issue (excluding treasury shares) as at the date of approval of the 2024 Share Option Scheme by the Shareholders (“Scheme Mandate Limit”), and within the Scheme Mandate Limit, the maximum number of Shares which may be allotted and issued (and, together with treasury shares which may be sold or transferred, as applicable) in respect of all options to be granted to Service Providers (“Service Provider Sublimit”) must not in aggregate exceed 14,836,871, representing 1% of the total number of Shares in issue (excluding treasury shares) as at the date of approval of the 2024 Share Option Scheme by the Shareholders, unless the Company obtains an approval from its Shareholders.

• (ii) The total number of Shares which may be issued (and, together with treasury shares which may be sold or transferred, as applicable) in respect of all options to be granted under the 2024 Share Option Scheme (in aggregate with any other options and awards to be granted under any other share option scheme(s) and share award scheme(s) of the Company that involve(s) the issuance of new Shares and the transfer of treasury shares) under the Scheme Mandate Limit as refreshed shall not exceed 10% (and the Service Provider Sublimit as refreshed shall not exceed 1%) of the total number of Shares in issue (excluding treasury shares) as at the date of approval of the refreshed Scheme Mandate Limit (and the refreshed Service Provider Sublimit).

• (ii) 股份於緊接要約日前五個營業日在 聯交所每日報價表所報的平均收市 價。

(g) 可認購的股份數目上限

受限於GEM上市規則之規定：

• (i) 除非本公司取得其股東批准，根據 二零二四年購股權計劃將予授出之 全部購股權可予發行之股份總數（連 同可予出售或轉讓的庫存股份（如適 用））（與涉及發行新股份及轉讓庫存 股份之任何其他購股權計劃及股份 獎勵計劃涉及之任何股份合併計算 時）合共不得超過148,368,715股， 相當於股東批准二零二四年購股權 計劃之日已發行股份總數（不包括庫 存股份）之10%（「計劃授權限額」）， 而在計劃授權限額內，將授予服務 提供者之全部購股權可予配發及發 行（連同在適用情況下可能出售或轉 讓的庫存股份）之最大股份數目（「服 務提供者分項限額」）合共不得超過 14,836,871，即股東批准二零二四 年購股權計劃之日已發行股份總數

• （不包括庫存股份）之1% 。

• (ii) 根據經更新後的計劃授權限額（及經 更新後的服務提供者分項限額），就 根據二零二四年購股權計劃將予授 出之全部購股權（連同根據涉及發行 新股份及轉讓庫存股份之本公司任 何其他購股權計劃及股份獎勵計劃 將予授出之任何其他購股權及獎勵 合併計算時）可予發行之股份總數

• （連同可予出售或轉讓的庫存股份 （如適用）），不得超過計劃授權限額 獲批准更新當日已發行股份總數（不 包括庫存股份）之10%（及服務提供 者分項限額獲批准更新當日已發行 股份總數之1% ）。

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Perfect Optronics Limited Annual Report 2025

Report of the Directors 董事會報告

(h) Maximum entitlement of Shares of each participant

The maximum number of Shares in respect of which options may be granted to a single participant under the 2024 Share Option Scheme in any 12-month period up to and including the date of such grant shall not (when aggregated with any Shares subject to any other share option scheme(s) and share award scheme(s) that involve(s) the issuance of new Shares and the transfer of treasury shares but excluding those which have lapsed in accordance with terms of the relevant scheme(s)) exceed 1% of the Shares in issue (excluding treasury shares), unless the Company obtains an approval from its Shareholders.

As at 18 June 2024, being the date of adoption, 1 January 2025, 31 December 2025 and the date of this report, the number of share options available for grant under the 2024 Share Option Scheme and the service provider sublimit were 148,368,715 and 14,836,871 respectively, representing 10% and 1% of the number of issued shares of the Company as at the date of this report respectively.

No share option has been granted under the 2024 Share Option Scheme and the 2014 Share Option Scheme (collectively, the “Share Option Schemes”) since their adoptions.

DIRECTORS’ RIGHTS TO ACQUIRE SHARES OR DEBENTURES

Save for the Share Option Schemes, at no time during the Year was the Company, its parent company, or any of its subsidiaries or fellow subsidiaries a party to any arrangements to enable the Directors to acquire benefits by means of the acquisition of shares in, or debentures of, the Company or any other body corporate.

DIRECTORS

The directors of the Company during the Year and up to the date of this report are:

Executive Directors:

Mr. Cheng Wai Tak (suspended)

Mr. Liu Ka Wing (suspended)

Mr. Tse Ka Wing (suspended)

• Mr. Chang Huan Chia

Independent non-executive Directors:

Mr. Kan Man Wai (Acting Chairman) Ms. Hsu Wai Man Helen

Mr. Lau Ngai Kee Ricky

(h) 每名參與者可得的股份上限

除非本公司取得其股東之批准，於截至有 關授出日期（包括該日）止任何12個月期間 內，根據二零二四年購股權計劃可能向單 一參與者授出之購股權所涉及之股份數目 上限（與涉及發行新股份及轉讓庫存股份 之任何其他購股權計劃及股份獎勵計劃所 涉及之任何股份合併計算時，惟不包括根 據相關計劃條款已失效之股份）不得超過 已發行股份（不包括庫存股份）之1% 。

於二零二四年六月十八日（採納日期）、二零 二五年一月一日，二零二五年十二月三十一日 及本報告日期，根據二零二四年購股計劃可授 出及服務提供者分項限額的購股權數目分別為 148,368,715及14,836,871，分別佔於本報告日 期本公司已發行股份數目的10%及1% 。

自二零二四年購股權計劃及二零一四年購股權 計劃（統稱「購股權計劃」）採納日期起，概無已 根據該等購股權計劃授出的購股權。

董事購買股份或債權證之權利

除購股權計劃外，於本年度內任何時間，本公 司、其母公司或其任何附屬公司或同系附屬公 司均無訂立任何安排，使董事可透過收購本公 司或任何企業股份或債權證而取得利益。

董事

本公司於本年度及至本報告日期的董事為：

執行董事：

鄭偉德先生（已暫停職務） 廖嘉榮先生（已暫停職務） 謝家榮先生（已暫停職務） 張桓嘉先生

獨立非執行董事：

簡文偉先生（代理主席） 徐慧敏女士 劉毅基先生

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圓美光電有限公司 2025 年報

Report of the Directors 董事會報告

By virtue of article 108 of the articles of association of the Company, Mr. Liu Ka Wing, Mr. Chang Huan Chia and Ms. Hsu Wai Man Helen will retire by rotation at the forthcoming annual general meeting. Mr. Liu Ka Wing, Mr. Chang Huan Chia and Ms. Hsu Wai Man Helen will, being eligible, offer themselves for re-election.

As disclosed in the announcement of the Company dated 25 September 2020, pending the outcome of the legal proceedings of the petition dated 25 September 2019 issued by the High Court of the Hong Kong Special Administrative Region which was taken out by the Securities and Futures Commission against certain current directors, including Mr. Cheng Wai Tak, Mr. Liu Ka Wing and Mr. Tse Ka Wing and certain former directors of the Company. Mr. Cheng Wai Tak, Mr. Liu Ka Wing and Mr. Tse Ka Wing have been suspended from their duties as Directors with effect from 25 September 2020.

The Company has received annual confirmation of independence from all the existing independent nonexecutive Directors pursuant to Rule 5.09 of the GEM Listing Rules. As at the date of this report, the Board considers them to be independent.

DIRECTORS’ SERVICE CONTRACTS

Each of the executive Directors has entered into a service contract with the Company for a term of three years, except terminated by either party giving not less than three months’ prior written notice to the other. They are subject to retirement by rotation and re-election at the Company’s annual general meeting in accordance with the Company’s articles of association.

Each of the independent non-executive Directors has entered into a letter of appointment with the Company for a term of three years, except terminated by not less than three months’ notice in writing served by either party on the other. They are subject to retirement by rotation and re-election at the Company’s annual general meeting.

None of the Directors who are proposed for re-election at the forthcoming annual general meeting has a service contract with the Company which is not determinable within one year without payment of compensation, other than statutory compensation.

EMOLUMENT POLICY

In order to attract and retain high quality staff and to enable smooth operation within the Group, the Group offers competitive remuneration packages (with reference to market conditions and individual qualifications and experience) and various in-house training courses. The remuneration packages are subject to review on a regular basis.

根據本公司組織章程細則第108條，廖嘉榮先 生、張桓嘉先生及徐慧敏女士將於應屆股東週 年大會輪席退任。廖嘉榮先生、張桓嘉先生及 徐慧敏女士符合資格並願意重選連任。

誠如本公司日期為二零二零年九月二十五日的 公告所披露，待香港特別行政區高等法院於二 零一九年九月二十五日就證券及期貨事務監察 委員會針對本公司若干現任董事(包括鄭偉德先 生、廖嘉榮先生及謝家榮先生)及若干前任董事 發出的呈請的法律程序得出結果之前，鄭偉德 先生、廖嘉榮先生及謝家榮先生已暫停彼等作 為董事的職務，自二零二零年九月二十五日起 生效。

根據GEM上市規則第5.09條之規定，本公司已 接獲所有現任獨立非執行董事每年作出之獨立 確認書。於本報告日期，董事會視彼等屬獨立。

董事服務合約

各執行董事均與本公司訂立服務合約為期三 年，除非其中一方向另一方發出不少於三個月 的事先書面通知予以終止為止。彼等須根據本 公司的組織章程細則於本公司的股東週年大會 上輪值退任及膺選連任。

各獨立非執行董事均與本公司訂立為期三年的 委任函件，除非其中一方向另一方發出不少於 三個月的事先書面通知予以終止。彼等須於本 公司的股東週年大會上輪值退任及膺選連任。

擬於應屆股東週年大會上膺選連任之董事均無 與本公司訂有任何不可於一年內免付補償（法 定賠償除外）而終止之服務合約。

薪酬政策

為吸引及挽留優秀員工以維持本集團的穩健營 運，本集團提供具競爭力的薪酬待遇（參照市場 情況及個人資歷及經驗）及多項內部培訓課程。 薪酬計劃亦會定期檢討。

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Report of the Directors 董事會報告

The emoluments of the Directors are recommended by the remuneration committee of the Company, having regard to the Group’s operating results, market competitiveness, individual performance and achievement, to the Board for determination.

Details of the Directors’ remuneration and the five highest paid individuals are set out in Note 34 and Note 9 to the consolidated financial statements, respectively.

DIRECTORS’ INTERESTS IN TRANSACTIONS, ARRANGEMENTS OR CONTRACTS OF SIGNIFICANCE

No transactions, arrangements or contracts of significance in relation to the Group’s business to which the Company, any of its subsidiaries or its parent company was a party and in which a director of the Company or his connected entities had a material interest, whether directly or indirectly, subsisted at the end of the Year or at any time during the Year.

PERMITTED INDEMNITY PROVISION

Pursuant to the Company’s articles of association, every director of the Company shall be entitled to be indemnified out of the assets of the Company against all losses or liabilities which he may sustain or incur in or about the execution of the duties of his office or otherwise in relation thereto. The Company maintains directors and officers liability insurance, which gives appropriate cover for any legal action brought against its directors. The level of the coverage is reviewed annually.

BIOGRAPHICAL DETAILS OF DIRECTORS AND SENIOR MANAGEMENT

Brief biographical details of Directors and senior management are set out on pages 77 to 79 of this annual report.

COMPLIANCE WITH THE RELEVANT LAWS AND REGULATIONS

During the Year, there was no material breach of or noncompliance with the applicable laws and regulations by the Group.

COMPETING INTERESTS

Based on the information available to the Company and within the knowledge and belief of the Directors, none of the Directors or the controlling shareholders of the Company (as defined under the GEM Listing Rules) have any business or interest which competes or may compete with the business of the Group, or have any other conflict of interest which any such person has or may have with the Group throughout the year ended 31 December 2025.

本公司薪酬委員會經考慮本集團的經營業績、 市場競爭力及個人績效與表現而向董事會建議 董事的薪酬供董事會釐定。

董事薪酬及五名最高薪酬人士的詳情已分別載 列於綜合財務報表附註34及附註9。

董事於重大交易、安排及合約之權 益

於本年度完結時或本年度內任何時間，本公司 董事或其關連實體均無直接或間接於本公司或 其任何附屬公司或母公司的有關本集團業務的 重要交易、安排及合約中擁有重大權益。

獲准彌償條文

根據本公司之組織章程細則，本公司各董事就 其執行職務或與此有關所蒙受或招致之一切損 失或責任，均有權從本公司資產獲得彌償。本 公司已為董事及高級人員購買責任保險，覆蓋 範圍包括對董事採取的任何法律行動。覆蓋範 圍每年審視。

董事及高級管理層之履歷詳情

董事及高級管理層之履歷詳情載於本年報第77 至79頁。

遵守相關法律及法規

本年度內，本集團概無對適用法律及法規有嚴 重違反或不合規情況。

競爭權益

根據本公司可得資料及就董事所知及所信，於 截至二零二五年十二月三十一日止年度內，董 事或本公司控股股東（定義見GEM上市規則）概 無持有與本集團業務構成競爭或可能構成競爭 之業務或權益，或任何該等人士亦概無與本集 團存在或可能存在任何其他利益衝突。

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圓美光電有限公司 2025 年報

Report of the Directors 董事會報告

DIRECTORS’ AND CHIEF EXECUTIVES’ INTERESTS AND/OR SHORT POSITIONS IN THE SHARES, UNDERLYING SHARES AND DEBENTURES OF THE COMPANY OR ANY ASSOCIATED CORPORATION

董事及主要行政人員於本公司或任 何相聯法團的股份及相關股份及債 券中的權益及╱或淡倉

As at 31 December 2025, interests and short positions in the shares, underlying shares and debentures of the Company or any of its associated corporations (within the meaning of Part XV of the Securities and Futures Ordinance (the “SFO”)) held by the Directors and chief executives of the Company which have been notified to the Company and the Stock Exchange pursuant to Divisions 7 and 8 of Part XV of the SFO (including interests and short positions which were taken or deemed to have under such provisions of the SFO) or have been entered in the register maintained by the Company pursuant to section 352 of the SFO, or otherwise have been notified to the Company and the Stock Exchange pursuant to the standard of dealings by directors set out in Rules 5.46 to 5.67 of the GEM Listing Rules were as follows:

於二零二五年十二月三十一日，董事及本公司 主要行政人員於本公司或其任何相聯法團（定 義見證券及期貨條例（「證券及期貨條例」）第XV 部）的股份、相關股份及債券中，擁有根據證券 及期貨條例第XV部第7及第8分部所規定，須知 會本公司及聯交所的權益及淡倉（包括彼等根 據證券及期貨條例的該等條文被當作或被視作 擁有的權益及淡倉），或根據證券及期貨條例第 352條所規定，須記錄在該條例所指的登記冊內 的權益及淡倉，或根據GEM上市規則第5.46至 5.67條所載之董事進行交易之準則所規定，須 知會本公司及聯交所的權益及淡倉如下：

Long positions in shares of the Company:

於本公司股份的好倉：

Name of Director Capacity 董事姓名 身份	Number of shares held Percentage of the Company’s issued shares 所持有股份數目 本公司已發行 股份百分比
Mr. Cheng Wai Tak Interest in controlled corporation 鄭偉德先生 受控法團權益 Beneficial owner 實益擁有人 Mr. Kan Man Wai Beneficial owner 簡文偉先生 實益擁有人	923,427,151 62.24% (Note)（附註） 2,220,000 0.15%
	925,647,151 62.39% 320,000 0.02%

Note:

These 923,427,151 shares are held by Winful Enterprises Limited (“Winful Enterprises”), which in turn is wholly and beneficially owned by Mr. Cheng Wai Tak. As such, Mr. Cheng Wai Tak is deemed under the SFO to be interested in these 923,427,151 shares held by Winful Enterprises.

Save as disclosed above, as at 31 December 2025, none of the Directors and chief executives of the Company had registered an interest or short position in the shares, underlying shares or debentures of the Company or any of its associated corporations (within the meaning of Part XV of the SFO) which were required to be notified to the Company and the Stock Exchange pursuant to Divisions 7 and 8 of Part XV of the SFO (including interests and short positions which were taken or deemed to have under such provisions of the SFO), or which were

附註：

該等923,427,151股股份由Winful Enterprises Limited（「 Winful Enterprises 」）持有，而Winful Enterprises由鄭偉德先生全資及 實益擁有。因此，根據證券及期貨條例，鄭偉德先生被視為 於Winful Enterprises所持有的該等923,427,151股股份中擁有 權益。

除上文所披露者外，於二零二五年十二月 三十一日，董事及本公司主要行政人員概無於 本公司或其任何相聯法團（定義見證券及期貨 條例第XV部）的股份、相關股份及債券中，擁有 根據證券及期貨條例第XV部第7及8分部所規 定，須知會本公司及聯交所的權益或淡倉（包括 根據證券及期貨條例的該等條文被當作或被視 作擁有的權益及淡倉），或根據證券及期貨條例 第352條所規定，須記錄在該條例所指的本公司

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Report of the Directors 董事會報告

required to be entered in the register maintained by the Company pursuant to section 352 of the SFO, or which were required to be notified to the Company and the Stock Exchange pursuant to the standard of dealings by directors set out in Rules 5.46 to 5.67 of the GEM Listing Rules.

登記冊內的權益或淡倉，或根據GEM上市規則 第5.46條至第5.67條所載董事進行交易的標準所 規定，而須知會本公司及聯交所的權益或淡倉。

SUBSTANTIAL SHAREHOLDERS’

INTERESTS AND/OR SHORT POSITIONS IN THE SHARES AND UNDERLYING SHARES OF THE COMPANY

主要股東於本公司的股份及相關股 份中的權益及╱或淡倉

So far as the Directors are aware, as at 31 December 2025, other than the Directors and chief executives of the Company, the following persons/entities have an interest or a short position in the shares or the underlying shares of the Company which were required to be disclosed to the Company under Divisions 2 and 3 of Part XV of the SFO or which were required to be recorded in the register of the Company required to be kept under section 336 of the SFO:

就董事所知，於二零二五年十二月三十一日， 除董事及本公司主要行政人員外，下列人士╱ 實體於本公司的股份或相關股份中擁有根據證 券及期貨條例第XV部第2及3分部須向本公司披 露或根據證券及期貨條例第336條所規定，須記 錄在該條例所指的本公司登記冊內的權益或淡 倉如下：

Long position in shares of the Company:

於本公司股份的好倉：

			Percentage of
		Number of	the Company’s
Name	Nature of interests	shares held	issued shares
			本公司已發行
名稱	權益性質	所持有股份數目	股份百分比
Winful Enterprises	Directly beneficially owned	923,427,151	62.24%
	直接實益擁有	(Note)（附註）

Note: Mr. Cheng Wai Tak is deemed under the SFO to be interested in these 923,427,151 shares held by Winful Enterprises. Mr. Cheng Wai Tak is also a director of Winful Enterprises.

Save as disclosed above, as at 31 December 2025, no other person had any interests or short positions in the shares or underlying shares of the Company which were required to be disclosed to the Company under Divisions 2 and 3 of Part XV of the SFO or which were required to be recorded in the register of the Company required to be kept under section 336 of the SFO.

附註： 根據證券及期貨條例，鄭偉德先生被視為擁有Winful Enterprises持有的該等923,427,151股股份中擁有權 益。鄭偉德先生亦為Winful Enterprises的董事。

除上文所披露者外，於二零二五年十二月 三十一日，概無其他人士於本公司之股份或相 關股份中擁有根據證券及期貨條例第XV部第2 及3分部須向本公司披露或根據證券及期貨條例 第336條所規定，須記錄在該條例所指的本公司 登記冊內的任何權益或淡倉。

MANAGEMENT CONTRACTS

No contracts concerning the management and administration of the whole or any substantial part of the business of the Company were entered into or existed during the Year.

管理合約

本年度概無簽訂或出現有關本公司業務的全部 或主要部分的管理及行政合約。

MAJOR SUPPLIERS AND CUSTOMERS

During the year ended 31 December 2025, sales to the Group’s five largest customers accounted for approximately 75.5% (2024: 52.3%) of the total sales for the year and sales to the largest customer included

主要供應商及客戶

截至二零二五年十二月三十一日止年度，本集 團向其五大客戶作出的銷售佔年度總銷售額約 75.5%（二零二四年：52.3% ），其中向最大客戶 作出的銷售佔年度總銷售額約41.2%（二零二四

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Report of the Directors 董事會報告

therein amounted to approximately 41.2% (2024: 26.6%). Purchases from the Group’s five largest suppliers accounted for approximately 98.3% (2024: 89.8%) of the total purchases for the year and purchase from the largest supplier included therein amounted to approximately 91.5% (2024: 47.6%).

None of the Directors, their close associates or any shareholder (which to the knowledge of the Directors owns more than 5% of the number of issued shares of the Company) had an interest in these major suppliers or customers.

CONNECTED TRANSACTIONS

The material related party transactions in relation to the key management personnel remuneration and the guarantee provided by a director as disclosed in Note 32(c) and Note 32(d) to the consolidated financial statements respectively are connected transactions exempt from reporting, announcement and independent shareholders’ approval requirements under Chapter 20 of the GEM Listing Rules.

SUFFICIENCY OF PUBLIC FLOAT

Based on the information that is publicly available to the Company and within the knowledge of the Directors, the Company has maintained the prescribed public float required by the GEM Listing Rules as at the date of this report.

COMPLIANCE OF NON-COMPETITION UNDERTAKING

All the independent non-executive Directors were delegated with the authority to review on an annual basis the compliance with the non-competition undertaking given by each of Mr. Cheng Wai Tak and Winful Enterprises, the controlling shareholders of the Company (collectively, the “Covenantors”) in favour of the Company dated 20 January 2014 (the “Non-Competition Deed”). The Covenantors have provided to the Company all information necessary for the annual review by the independent non-executive Directors and the Covenantors have confirmed to the Company that each of the Covenantors and his/its associates has not breached the terms of the undertakings contained in the NonCompetition Deed. All independent non-executive Directors confirmed that they are not aware of any noncompliance with the Non-Competition Deed by the Covenantors during the Year.

Details of the Non-Competition Deed have been set out in the section headed “Relationship with Controlling Shareholders” of the prospectus of the Company.

年：26.6% ）。本集團向五大供應商的採購約佔 年度總採購額約98.3%（二零二四年：89.8% ）， 其中向最大供應商的採購佔年度總採購額約 91.5%（二零二四年：47.6% ）。

概無董事、彼等的緊密聯繫人或任何股東（據董 事所知擁有本公司已發行股份數目5%以上者） 於該等主要供應商或客戶中擁有任何權益。

關連交易

誠如分別於綜合財務報表附註32(c)及附註32(d) 中所披露，有關主要管理人員薪酬及一名董事 提供的擔保的重大關連方交易屬GEM上市規則 第二十章下獲豁免遵守申報、公告及獨立股東 批准規定的關連交易。

足夠的公眾持股量

根據本公司可公開取得之資料及就董事所知， 於本報告日期，本公司保持GEM上市規則所指 定之公眾持股量。

不競爭承諾的遵守情況

全體獨立非執行董事獲授權每年審閱由鄭偉德 先生及本公司的控股股東Winful Enterprises（統 稱「契諾人」）各自於二零一四年一月二十日以本 公司的利益為依歸的不競爭承諾（「不競爭契 據」）之遵守情況。契諾人已向本公司提供所有 所需資料供獨立非執行董事進行年度檢討，而 契諾人已向本公司確認各契諾人及其各自的聯 繫人並無違反不競爭契據所載承諾條款。全體 獨立非執行董事確認彼等並不知悉契諾人於本 年度內有不遵守不競爭契據的事宜。

不競爭契據的詳情已載列於本公司招股章程「與 控股股東的關係」一節。

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EQUITY-LINKED AGREEMENTS

Save for the Share Option Schemes, no equity-linked agreements were entered into during the Year or subsisted at the end of the Year.

CORPORATE GOVERNANCE

Details of the corporate governance practices adopted by the Company are set out in the Corporate Governance Report on pages 19 to 38 of this annual report.

AUDITOR

The consolidated financial statements have been audited by PricewaterhouseCoopers who will retire at the forth coming annual general meeting and, being eligible, offer themselves for re-appointment. A resolution will be proposed at the forthcoming annual general meeting of the Company to re-appoint PricewaterhouseCoopers as auditor of the Company.

On behalf of the Board Perfect Optronics Limited

Kan Man Wai Acting Chairman Hong Kong, 27 March 2026

權益掛鈎協議

除購股權計劃外，概無權益掛鈎協議於本年度 內訂立或於本年度年末仍然生效。

企業管治

本公司所採納之企業管治常規詳情，載於本年 報第19至38頁之企業管治報告內。

核數師

綜合財務報表已由羅兵咸永道會計師事務所審 核，其將於應屆股東週年大會退任，並符合資 格提呈續任。一項決議案會於本公司應屆股東 週年大會上提呈，以續聘羅兵咸永道會計師事 務所為本公司之核數師。

代表董事會 圓美光電有限公司

簡文偉 代理主席 香港，二零二六年三月二十七日

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圓美光電有限公司 2025 年報

Independent Auditor’s Report 獨立核數師報告

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To the Shareholders of Perfect Optronics Limited (incorporated in the Cayman Islands with limited liability)

OPINION

What we have audited

The consolidated financial statements of Perfect Optronics Limited (the “Company”) and its subsidiaries (the “Group”), which are set out on pages 99 to 175, comprise:

• the consolidated statement of financial position as at 31 December 2025;

• the consolidated statement of comprehensive income for the year then ended;

• the consolidated statement of changes in equity for the year then ended;

• the consolidated statement of cash flows for the year then ended; and

• the notes to the consolidated financial statements, comprising material accounting policy information and other explanatory information.

Our opinion

In our opinion, the consolidated financial statements give a true and fair view of the consolidated financial position of the Group as at 31 December 2025, and of its consolidated financial performance and its consolidated cash flows for the year then ended in accordance with HKFRS Accounting Standards as issued by the Hong Kong Institute of Certified Public Accountants (“HKICPA”) and have been properly prepared in compliance with the disclosure requirements of the Hong Kong Companies Ordinance.

PricewaterhouseCoopers 22/F Prince’s Building, Central Hong Kong SAR, China www.pwchk.com T: +852 2289 8888, F: +852 2810 9888

致圓美光電有限公司股東 （於開曼群島註冊成立之有限公司）

意見

我們已審計的內容

圓美光電有限公司（以下簡稱「貴公司」）及其附 屬公司（以下統稱「貴集團」）列載於第99至175頁 的綜合財務報表，包括：

• 於二零二五年十二月三十一日的綜合財務 狀況表；

• 截至該日止年度的綜合全面收益表；

• 截至該日止年度的綜合權益變動表；

• 截至該日止年度的綜合現金流量表；及

• 綜合財務報表附註，包括重大會計政策信 息及其他解釋信息。

我們的意見

我們認為，該等綜合財務報表已根據香港會計 師公會頒布的《香港財務報告會計準則》真實而 中肯地反映了 貴集團於二零二五年十二月 三十一日的綜合財務狀況及其截至該日止年度 的綜合財務表現及綜合現金流量，並已遵照香 港《公司條例》的披露規定妥為擬備。

羅兵咸永道會計師事務所 中國香港特別行政區 中環太子大廈22樓 T: +852 2289 8888, F: +852 2810 9888

www.pwchk.com

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260326185610373-0327231043

Independent Auditor’s Report 獨立核數師報告

BASIS FOR OPINION

We conducted our audit in accordance with Hong Kong Standards on Auditing (“HKSAs”) as issued by the HKICPA. Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the Consolidated Financial Statements section of our report.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Independence

We are independent of the Group in accordance with the HKICPA’s Code of Ethics for Professional Accountants (“the Code”), as applicable to audits of financial statements of public interest entities. We have also fulfilled our other ethical responsibilities in accordance with the Code.

Material Uncertainty Related to Going Concern

We draw your attention to Note 2.1(a) to the consolidated financial statements, which states that the Group recorded a loss for the year of HK$13,333,000 and there was a net cash outflow from operating activities of HK$11,833,000 for the year ended 31 December 2025. As at 31 December 2025, the Group had cash and cash equivalents of HK$18,244,000. These conditions, along with other matters as described in Note 2.1(a) to the consolidated financial statements, indicate that a material uncertainty exists that may cast significant doubt on the Group’s ability to continue as a going concern. Our opinion is not modified in respect of this matter.

KEY AUDIT MATTERS

Key audit matters are those matters that, in our professional judgement, were of most significance in our audit of the consolidated financial statements of the current period. These matters were addressed in the context of our audit of the consolidated financial statements as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters. In addition to the matter described in the Material Uncertainty Related to Going Concern section, we have determined the matter described below to be the key audit matter to be communicated in our report.

The key audit matter identified in our audit is related to revenue recognition.

意見的基礎

我們已根據香港會計師公會頒布的《香港審計 準則》進行審計。我們在該等準則下承擔的責任 已在本報告「核數師就審計綜合財務報表承擔 的責任」部分中作進一步闡述。

我們相信，我們所獲得的審計憑證能充足及適 當地為我們的審計意見提供基礎。

獨立性

根據香港會計師公會頒布的《專業會計師道德 守則》（以下簡稱「守則」）中適用於公眾利益實體 財務報表審計的相關要求，我們獨立於 貴集 團。我們亦已履行守則中的其他專業道德責任。

與持續經營有關的重大不確定性

， 我們籲請 閣下關注綜合財務報表附註2.1(a) 說明 貴集團在截至二零二五年十二月三十一 日止年度內錄得年度虧損13,333,000港元及經 營活動淨現金流出11,833,000港元。於二零二五 年十二月三十一日， 貴集團之現金及現金等價 物為18,244,000港元。該等狀況連同綜合財務報 表附註2.1(a)中列出的其他事項，表明存在重大 不確定性，其可能會對 貴集團持續經營的能 力構成重大疑慮。我們的意見未有就此事項作 出修訂。

關鍵審計事項

關鍵審計事項是根據我們的專業判斷，認為對 本期間綜合財務報表的審計最為重要的事項。 這些事項是在我們審計整體綜合財務報表及出 具意見時進行處理的。我們不會對這些事項提 供單獨的意見。除了「與持續經營有關的重大不 確定性」部分所述事項外，我們確定以下事項為 需要在報告中溝通的關鍵審計事項。

我們在審計中識別的關鍵審計事項是關於收入 確認。

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圓美光電有限公司 2025 年報

Independent Auditor’s Report 獨立核數師報告

Key Audit Matter How our audit addressed the Key Audit Matter 關鍵審計事項 我們的審計如何處理關鍵審計事項

Revenue recognition 收入確認

Refer to Note 2.2.8 and Note 5 to the consolidated financial statements. 參閱綜合財務報表附註2.2.8及附註5。

Our procedures in relation to the revenue recognition included: 我們就收入確認進行之程序包括：

The Group’s revenue consists of sales of display and optics products and related electronic components, as well as health-related products and other products. 貴集團的收入包括顯示及光學產品及其他相關電子部 件，以及健康相關產品及其他產品的銷售。

• We understood management’s process in relation to revenue recognition from sales of goods; 我們了解管理層在產品銷售收入確認方面之流 程；

During the year ended 31 December 2025, revenue of approximately HK$104,163,000 was recognised in the Group’s consolidated statement of comprehensive income.

截至二零二五年十二月三十一日止年度，貴集團綜合 全面收益表已確認收入約104,163,000港元。

Revenue from the sales of goods is recognised at a point in time when control of the products has transferred, being when the products are delivered to the customers, and the customers have full discretion over the products.

銷售商品所得收入於貨品的控制權已轉移予客戶時確 認，即貨品已運送至客戶並對產品有充分酌情權時。

• We evaluated the appropriateness of the revenue recognition policies as adopted by management; 我們評估管理層所採用收入確認政策之適當 性；

• We tested, on a sample basis, revenue transactions recognised during the year to supporting documents, such as sales contracts, delivery documents or shipping documents; and 我們以抽樣方式，將證明文件（例如銷售合同、 貨單或貨運收據）進行核對，藉此追查交易以 測試年內確認的收入交易；及

We focused on this area due to the magnitude of revenue transactions occurred and hence, significant audit effort was spent in auditing this area. 我們著重此方面的原因在於所產生的收入交易金額龐 大。因此，已就此進行大量審計工作。

• We tested, on a sample basis, revenue transactions recognised before and after the financial year end to supporting documents, such as delivery documents or shipping documents, to assess whether revenue had been recognised in the appropriate financial period.

我們以抽樣方式將財政年度終結日前及之後確 認的收入與證明文件（例如貨單或貨運收據）進 行核對，以釐定相關收入是否在適當的財政期 間予以確認。

Based on the procedures performed, we found that the Group’s revenue recognition was supported by the evidence obtained. 根據已執行程序，我們發現，貴集團之收入確認已取 得證據支持。

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Perfect Optronics Limited Annual Report 2025

Independent Auditor’s Report 獨立核數師報告

OTHER INFORMATION

The directors of the Company are responsible for the other information. The other information comprises all of the information included in the annual report other than the consolidated financial statements and our auditor’s report thereon.

Our opinion on the consolidated financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.

In connection with our audit of the consolidated financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the consolidated financial statements or our knowledge obtained in the audit, or otherwise appears to be materially misstated.

If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

RESPONSIBILITIES OF DIRECTORS AND THOSE CHARGED WITH GOVERNANCE FOR THE CONSOLIDATED FINANCIAL STATEMENTS

The directors of the Company are responsible for the preparation of the consolidated financial statements that give a true and fair view in accordance with HKFRS Accounting Standards as issued by the HKICPA and the disclosure requirements of the Hong Kong Companies Ordinance, and for such internal control as the directors determine is necessary to enable the preparation of consolidated financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the consolidated financial statements, the directors are responsible for assessing the Group’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Group or to cease operations, or have no realistic alternative but to do so.

Those charged with governance are responsible for overseeing the Group’s financial reporting process.

其他信息

貴公司董事須對其他信息負責。其他信息包括 年報內的所有信息，但不包括綜合財務報表及 我們的核數師報告。

我們對綜合財務報表的意見並不涵蓋其他信 息，我們亦不對該等其他信息發表任何形式的 鑒證結論。

結合我們對綜合財務報表的審計，我們的責任 是閱讀其他信息，在此過程中，考慮其他信息 是否與綜合財務報表或我們在審計過程中所了 解的情況存在重大抵觸或者似乎存在重大錯誤 陳述的情況。

基於我們已執行的工作，如果我們認為其他信 息存在重大錯誤陳述，我們需要報告該事實。 在這方面，我們沒有任何報告。

董事及治理層就綜合財務報表須承 擔的責任

貴公司董事須負責根據香港會計師公會頒布的 《香港財務報告會計準則》及香港《公司條例》的 披露規定擬備真實而中肯的綜合財務報表，並 對其認為為使綜合財務報表的擬備不存在由於 欺詐或錯誤而導致的重大錯誤陳述所需的內部 控制負責。

在擬備綜合財務報表時，董事負責評估 貴集 團持續經營的能力，並在適用情況下披露與持 續經營有關的事項，以及使用持續經營為會計 基礎，除非董事有意將 貴集團清盤或停止經 營，或別無其他實際的替代方案。

治理層須負責監督 貴集團的財務報告過程。

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圓美光電有限公司 2025 年報

Independent Auditor’s Report 獨立核數師報告

AUDITOR’S RESPONSIBILITIES FOR THE AUDIT OF THE CONSOLIDATED FINANCIAL STATEMENTS

Our objectives are to obtain reasonable assurance about whether the consolidated financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. We report our opinion solely to you, as a body, and for no other purpose. We do not assume responsibility towards or accept liability to any other person for the contents of this report. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with HKSAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these consolidated financial statements.

As part of an audit in accordance with HKSAs, we exercise professional judgement and maintain professional scepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of the consolidated financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Group’s internal control.

• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors.

核數師就審計綜合財務報表承擔的 責任

我們的目標，是對綜合財務報表整體是否不存 在由於欺詐或錯誤而導致的重大錯誤陳述取得 合理保證，並出具包括我們意見的核數師報 告。我們僅向 閣下（作為整體）報告我們的意 見，除此之外本報告別無其他目的。我們不會 就本報告的內容向任何其他人士負上或承擔任 何責任。合理保證是高水平的保證，但不能保 證按照《香港審計準則》進行的審計，在某一重 大錯誤陳述存在時總能發現。錯誤陳述可以由 欺詐或錯誤引起，如果合理預期它們單獨或滙 總起來可能影響綜合財務報表使用者依賴綜合 財務報表所作出的經濟決定，則有關的錯誤陳 述可被視作重大。

在根據《香港審計準則》進行審計的過程中，我 們運用了專業判斷，保持了專業懷疑態度。我 們亦：

• 識別和評估由於欺詐或錯誤而導致綜合財 務報表存在重大錯誤陳述的風險，設計及 執行審計程序以應對這些風險，以及獲取 充足和適當的審計憑證，作為我們意見的 基礎。由於欺詐可能涉及串謀、偽造、蓄 意遺漏、虛假陳述，或凌駕於內部監控之 上，因此未能發現因欺詐而導致的重大錯 誤陳述的風險高於未能發現因錯誤而導致 的重大錯誤陳述的風險。

• 了解與審計相關的內部控制，以設計適當 的審計程序，但目的並非對 貴集團內部 控制的有效性發表意見。

• 評價董事所採用會計政策的恰當性及作出 會計估計和相關披露的合理性。

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Perfect Optronics Limited Annual Report 2025

Independent Auditor’s Report 獨立核數師報告

• Conclude on the appropriateness of the directors’ use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Group’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the consolidated financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the Group to cease to continue as a going concern.

• Evaluate the overall presentation, structure and content of the consolidated financial statements, including the disclosures, and whether the consolidated financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

• Plan and perform the group audit to obtain sufficient appropriate audit evidence regarding the financial information of the entities or business units within the Group as a basis for forming an opinion on the consolidated financial statements. We are responsible for the direction, supervision and review of the audit work performed for purposes of the group audit. We remain solely responsible for our audit opinion.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, actions taken to eliminate threats or safeguards applied.

• 對董事採用持續經營會計基礎的恰當性作 出結論。根據所獲取的審計憑證，確定是 否存在與事項或情況有關的重大不確定 性，從而可能導致對 貴集團的持續經營 能力產生重大疑慮。如果我們認為存在重 大不確定性，則有必要在核數師報告中提 請使用者注意綜合財務報表中的相關披 露。假若有關的披露不足，則我們應當發 表非無保留意見。我們的結論是基於核數 師報告日止所取得的審計憑證。然而，未 來事項或情況可能導致 貴集團不能持續 經營。

• 評價綜合財務報表的整體列報方式、結構 和內容，包括披露，以及綜合財務報表是 否中肯反映交易和事項。

• 計劃和執行集團審計，以獲取關於 貴集 團內實體或業務單位財務信息的充足和適 當的審計憑證，以對綜合財務報表形成審 計意見提供基礎。我們負責指導、監督和 覆核為集團審計而執行的審計工作。我們 為審計意見承擔總體責任。

除其他事項外，我們與治理層溝通了計劃的審 計範圍、時間安排、重大審計發現等，包括我 們在審計中識別出內部監控的任何重大缺陷。

我們還向治理層提交聲明，說明我們已符合有 關獨立性的相關專業道德要求，並與他們溝通 有可能合理地被認為會影響我們獨立性的所有 關係和其他事項，以及在適用的情況下，用以 消除對獨立性產生威脅的行動或採取的防範措 施。

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圓美光電有限公司 2025 年報

Independent Auditor’s Report 獨立核數師報告

From the matters communicated with those charged with governance, we determine those matters that were of most significance in the audit of the consolidated financial statements of the current period and are therefore the key audit matters. We describe these matters in our auditor’s report unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we determine that a matter should not be communicated in our report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication.

The engagement partner on the audit resulting in this independent auditor’s report is Ng Ka Ho (practising certificate number: P05152).

PricewaterhouseCoopers Certified Public Accountants Hong Kong, 27 March 2026

從與治理層溝通的事項中，我們確定哪些事項 對本期綜合財務報表的審計最為重要，因而構 成關鍵審計事項。我們在核數師報告中描述這 些事項，除非法律法規不允許公開披露這些事 項，或在極端罕見的情況下，如果合理預期在 我們報告中溝通某事項造成的負面後果超過產 生的公眾利益，我們決定不應在報告中溝通該 事項。

出具本獨立核數師報告的審計項目合夥人是吳 家豪（執業證書編號：P05152）。

羅兵咸永道會計師事務所 執業會計師 香港，二零二六年三月二十 七日

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Perfect Optronics Limited Annual Report 2025

Consolidated Statement of Comprehensive Income 綜合全面收益表

						For the year ended	For the year ended	31 December 2025
						截至二零二五年十二月三十一日止年度
						2025		2024
						二零二五年		二零二四年
					Note	HK$’000		HK$’000
					附註	千港元		千港元
	Revenue	收入			5, 6	104,163		92,605
	Cost of sales	銷售成本			8	(87,236)		(81,951)
	Gross profit	毛利				16,927		10,654
	Other gains/(losses), net	其他收益╱（虧損）淨額			7	881		(18,818)
	Distribution and selling expenses	分銷及銷售開支			8	(9,479)		(12,533)
	General and administrative	一般及行政開支
	expenses				8	(20,765)		(21,557)
	Research and development	研究及開發開支
	expenses				8	(792)		(1,227)
	Operating loss	經營虧損				(13,228)		(43,481)
	Finance income	財務收入				27		104
	Finance costs	財務費用				(113)		(229)
	Finance costs, net	財務費用淨額			10	(86)		(125)
	Loss before income tax	除所得稅前虧損				(13,314)		(43,606)
	Income tax expense	所得稅開支			11	(19)		(35)
	Loss for the year	年度虧損				(13,333)		(43,641)
	Other comprehensive (loss)/	其他全面（虧損）╱
	income:		收益：
	Item that may be subsequently 隨後可重新分類至
	reclassified to income statement		收益表之項目
	Currency translation differences	外幣折算差額				(277)		316
	Items that will not be subsequently 隨後不會重新分類至
	reclassified to income statement		收益表之項目
	Change in value of financial asset at	按公允價值計入其他全
	fair value through other		面收益之金融資產
	comprehensive income		價值變動			(1,233)		(132)
	Currencytranslation differences	外幣折算差額				(121)		91
	Total comprehensive loss	年度全面虧損總額
	for theyear					(14,964)		(43,366)

圓美光電有限公司 2025 年報 99

Consolidated Statement of Comprehensive Income 綜合全面收益表

For the year ended 31 December 2025 截至二零二五年十二月三十一日止年度

						2025	2024
						二零二五年	二零二四年
					Note	HK$’000	HK$’000
					附註	千港元	千港元
	Loss for the year attributable to:	年度虧損歸屬於：
	Equity holders of the Company	本公司權益持有人				(12,492)	(42,906)
	Non-controllinginterests	非控股權益				(841)	(735)
						(13,333)	(43,641)
	Total comprehensive loss for the	年度全面虧損總額
	year attributable to:		歸屬於：
	Equity holders of the Company	本公司權益持有人				(14,002)	(42,722)
	Non-controllinginterests	非控股權益				(962)	(644)
						(14,964)	(43,366)
	Loss per share for loss attributable	本公司權益持有人
	to equity holders of the		應佔年度虧損之
	Company for the year		每股虧損
	Basic and diluted	基本及攤薄
	(expressed in HK cents		（以每股港仙列示）
	per share)				12	(0.84)	(2.89)

The above consolidated statement of comprehensive 以上綜合全面收益表應與隨附附註一併閱覽。 income should be read in conjunction with the accompanying notes.

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Perfect Optronics Limited Annual Report 2025

Consolidated Statement of Financial Position 綜合財務狀況表

As at 31 December 2025 於二零二五年十二月三十一日

					Note 附註	2025 二零二五年 HK$’000 千港元	2024 二零二四年 HK$’000 千港元
	Assets	資產
	Non-current assets	非流動資產
	Property, plant and equipment		物業、廠房及設備		14	475	688
	Right-of-use assets		使用權資產		15	—	—
	Intangible assets		無形資產		16	5,322	5,322
	Financial asset at fair value		按公允價值計入其他
	through other comprehensive		全面收益之金融資產
	income				18	135	1,368
						5,932	7,378
	Current assets	流動資產
	Inventories Trade receivables, prepayments		存貨 應收賬款、預付款		20	4,369	5,060
	and other receivables Financial asset at fair value		及其他應收款 按公允價值計入		21	5,836	4,871
	through profit or loss		損益之金融資產		19	9,911	16,641
	Cash and cash equivalents		現金及現金等價物		22	18,244	24,407
						38,360	50,979
	Total assets	資產總額				44,292	58,357
	Equity and liabilities	權益及負債
	Equity attributable to equity	本公司權益持有人應佔
	holders of the Company		權益
	Share capital		股本		23	14,837	14,837
	Reserves Accumulated losses		儲備 累計虧損			114,892 (94,158)	116,402 (81,666)
						35,571	49,573
	Non-controllinginterests	非控股權益				(5,125)	(4,163)
	Total equity	權益總額				30,446	45,410

圓美光電有限公司 2025 年報 101

Consolidated Statement of Financial Position 綜合財務狀況表

As at 31 December 2025 於二零二五年十二月三十一日

2025 二零二五年 Note HK$’000 附註 千港元	2024 二零二四年 HK$’000 千港元
Liabilities 負債 Non-current liabilities 非流動負債 Bank loan 銀行貸款 25 2,297 Lease liabilities 租賃負債 15 — Deferred income tax liabilities 遞延所得稅負債 26 22	3,066 16 3
2,319	3,085
Current liabilities 流動負債 Trade and other payables 應付賬款及其他應 付款 24 10,742 Bank loan 銀行貸款 25 769 Lease liabilities 租賃負債 15 16	8,250 743 869
11,527	9,862
Total liabilities 負債總額 13,846	12,947
Total equityand liabilities 權益及負債總額 44,292	58,357

The consolidated financial statements on pages 99 to 175 第99至175頁的綜合財務報表已於二零二六年三 were approved by the Board of Directors on 27 March 月二十七日由董事會批准，並代表董事會簽署。 2026 and were signed on its behalf.

Chang Huan Chia Hsu Wai Man Helen 張桓嘉 徐慧敏 Director Director 董事 董事

The above consolidated statement of financial position 以上綜合財務狀況表應與隨附附註一併閱覽。 should be read in conjunction with the accompanying notes.

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Perfect Optronics Limited Annual Report 2025

Consolidated Statement of Changes in Equity 綜合權益變動表

For the year ended 31 December 2025 截至二零二五年十二月三十一日止年度

			Attributable to equity holders of the Company	Attributable to equity holders of the Company	Attributable to equity holders of the Company	Attributable to equity holders of the Company
			本公司權益持有人應佔
			(Note 1)		(Note 2)
			（附註1）		（附註2）
	Share capital	Share premium	Other reserves	Merger reserve	Revaluation reserve	Exchange reserve	Accumulated losses	Total	Non- controlling interests	Total equity
	股本	股份溢價	其他儲備	合併儲備	重估儲備	匯兌儲備	累計虧損	總計	非控股權益	權益總額
	HK$’000	HK$’000	HK$’000	HK$’000	HK$’000	HK$’000	HK$’000	HK$’000	HK$’000	HK$’000
	千港元	千港元	千港元	千港元	千港元	千港元	千港元	千港元	千港元	千港元
Balance at 1 January 2025 二零二五年一月一日 結餘 Comprehensive loss 全面虧損 Loss for the year 年度虧損 Other comprehensive loss 其他全面虧損 Currency translation differences 外幣折算差額 Change in value of financial asset at fair value through other comprehensive income 按公允價值計入其他 全面收益之金融 資產價值變動
	14,837	465,738	67,349	(415,675) (1,238) 228			(81,666) 49,573		(4,163) 45,410
	—	—	—	— — —			(12,492) (12,492) (841) (13,333)
	—	—	—	— — (277) — (277) (121) (398)
	—	—	—	— (1,233) — — (1,233) — (1,233)
Total other comprehensive loss 其他全面虧損總額
	—	—	—	— (1,233) (277) — (1,510) (121) (1,631)
Total comprehensive loss 全面虧損總額
	—	—	—	— (1,233) (277) (12,492) (14,002) (962) (14,964)
Balance at 31 December 2025 二零二五年十二月 三十一日結餘
	14,837	465,738	67,349	(415,675) (2,471) (49) (94,158) 35,571 (5,125) 30,446

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圓美光電有限公司 2025 年報

Consolidated Statement of Changes in Equity 綜合權益變動表

For the year ended 31 December 2025 截至二零二五年十二月三十一日止年度

	Attributable to equity holders of the Company 本公司權益持有人應佔 (Note 1) (Note 2) （附註1） （附註2） Share capital Share premium Other reserves Merger reserve Revaluation reserve Exchange reserve Accumulated losses Total Non- controlling interests Total equity 股本 股份溢價 其他儲備 合併儲備 重估儲備 匯兌儲備 累計虧損 總計 非控股權益 權益總額 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 千港元 千港元 千港元 千港元 千港元 千港元 千港元 千港元 千港元 千港元
Balance at 1 January 2024 二零二四年一月一日 結餘 Comprehensive loss 全面虧損 Loss for the year 年度虧損 Other comprehensive income/ (loss) 其他全面收益╱ （虧損） Currency translation differences 外幣折算差額 Change in value of financial asset at fair value through other comprehensive income 按公允價值計入其他 全面收益之金融 資產價值變動	14,837 465,738 67,349 (415,675) (1,106) (88) (38,760) 92,295 (3,519) 88,776 — — — — — — (42,906) (42,906) (735) (43,641) — — — — — 316 — 316 91 407 — — — — (132) — — (132) — (132)
Total other comprehensive income 其他全面收益總額	— — — — (132) 316 — 184 91 275
Total comprehensive loss 全面虧損總額	— — — — (132) 316 (42,906) (42,722) (644) (43,366)
Balance at 31 December 2024 二零二四年十二月 三十一日結餘	14,837 465,738 67,349 (415,675) (1,238) 228 (81,666) 49,573 (4,163) 45,410

Notes:

• 1 Other reserves include: (1) the difference between the share capital issued by the Company for acquisition of the subsidiaries pursuant to a reorganisation (the “Reorganisation”) for the listing of the Company and the aggregate capital of the subsidiaries being acquired at the time of the Reorganisation; and (2) the amount of the loan waived by the controlling shareholder upon completion of a common control combination.

• 2 Revaluation reserve represents fair value reserve for financial asset at fair value through other comprehensive income.

附註：

• 1 其他儲備包括：(1)根據本公司上市進行的重組（「重 組」），本公司就收購附屬公司已發行的股本及於重組 時被收購的附屬公司之總資本的差額；及(2)完成共同 控制合併時控股股東豁免之貸款金額。

• 2 重估儲備乃指按公允價值計入其他全面收益之金融資 產的公允價值儲備。

The above consolidated statement of changes in equity 以上綜合權益變動表應與隨附附註一併閱覽。 should be read in conjunction with the accompanying notes.

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Perfect Optronics Limited Annual Report 2025

Consolidated Statement of Cash Flows 綜合現金流量表

						For the year ended	For the year ended	31 December 2025
						截至二零二五年十二月三十一日止年度
						2025		2024
						二零二五年		二零二四年
					Note	HK$’000		HK$’000
					附註	千港元		千港元
	Cash flows from operating	經營活動的現金流量
	activities
	Cash used in operations	經營所用現金			28(a)	(11,720)		(17,427)
	Income tax paid	已支付所得稅				—		(358)
	Interest paid	已付利息				(103)		(150)
	Payments of interest element of	支付租賃負債利息部分
	lease liabilities				15, 28(c)	(10)		(79)
	Net cash used in operating	經營活動所用淨現金
	activities					(11,833)		(18,014)
	Cash flows from investing	投資活動的現金流量
	activities
	Net proceeds from disposals of	出售按公允價值計入損
	financial asset at fair value		益之金融資產淨所得
	through profit or loss		款項			6,907		—
	Proceeds from disposal of	出售物業、廠房及設備所
	property, plant and equipment		得款項			90		—
	Purchase of property, plant and	購買物業、廠房及設備
	equipment				14	(7)		(677)
	Interest received	已收利息				27		104
	Net cash generated from/	投資活動所得╱（所用）
	(used in)investingactivities		淨現金			7,017		(573)
	Cash flows from financing	融資活動的現金流量
	activities
	Repayments of bank loan	償還銀行貸款			28(c)	(743)		(710)
	Payments of principal element of	支付租賃負債本金部分
	lease liabilities				15, 28(c)	(873)		(3,025)
	Net cash used in financing	融資活動所用淨現金
	activities					(1,616)		(3,735)
	Net decrease in cash and cash	現金及現金等價物減少
	equivalents		淨額			(6,432)		(22,322)
	Cash and cash equivalents at	年初現金及現金等價物
	beginning of year					24,407		47,372
	Exchange differences on cash	現金及現金等價物匯兌
	and cash equivalents		差額			269		(643)
	Cash and cash equivalents at	年末現金及現金等價物
	end ofyear				22	18,244		24,407

The above consolidated statement of cash flows should 以上綜合現金流量表應與隨附附註一併閱覽。 be read in conjunction with the accompanying notes.

105

圓美光電有限公司 2025 年報

Notes to the Consolidated Financial Statements 綜合財務報表附註

1 GENERAL INFORMATION

Perfect Optronics Limited (the “Company”) was incorporated in the Cayman Islands on 13 June 2013, as an exempted company with limited liability under the Companies Law (as Revised) of the Cayman Islands. The address of its registered office is Windward 3, Regatta Office Park, PO Box 1350, Grand Cayman KY1-1108, Cayman Islands. The Company’s shares are listed on the GEM of The Stock Exchange of Hong Kong Limited.

The Company is an investment holding company and its subsidiaries (together the “Group”) are principally engaged in trading, development and sale of display and optics products and related electronic components, as well as trading of health-related products and other products.

These consolidated financial statements are presented in Hong Kong dollars (“HK$”), unless otherwise stated.

2 SUMMARY OF ACCOUNTING POLICIES

2.1 Basis of preparation

The consolidated financial statements of the Group have been prepared in accordance with HKFRS Accounting Standards as issued by the Hong Kong Institute of Certified Public Accountants (“HKICPA”) and the disclosure requirements of the Hong Kong Companies Ordinance Cap. 622.

HKFRS Accounting Standards comprise the following authoritative literature:

• Hong Kong Financial Reporting Standards;

• Hong Kong Accounting Standards; and

• Interpretations developed by the Hong Kong Institute of Certified Public Accountants.

The consolidated financial statements have been prepared on a historical cost basis, except for financial asset at fair value through other comprehensive income (“FVOCI”) and financial asset at fair value through profit or loss (“FVTPL”) which have been measured at fair value.

1 一般資料

圓美光電有限公司（「本公司」）於二零一三 年六月十三日根據開曼群島公司法（修訂 本）在開曼群島註冊成立為一間獲豁免有 限公司。其註冊辦事處位於Windward 3, Regatta Office Park, PO Box 1350, Grand Cayman KY1-1108, Cayman Islands 。本 公司股份於香港聯合交易所有限公司GEM 上市。

本公司為一間投資控股公司，而其附屬公 司（統稱「本集團」）主要經營顯示及光學產 品及相關電子部件之貿易、開發及銷售， 以及健康相關產品及其他產品之貿易。

除另有指明外，此等綜合財務報表乃以港 元（「港元」）呈列。

2 會計政策概要

2.1 編製基準

本集團的綜合財務報表已按照香港會計師 公會（「香港會計師公會」）頒布的香港財務 報告會計準則以及香港公司條例第622章 的披露規定擬備。

香港財務報告會計準則包括以下權威文 獻：

• 香港財務報告準則；

• 香港會計準則；及

• 香港會計師公會制定的詮釋。

綜合財務報表已根據歷史成本基準編製， 惟按公允價值計入其他全面收益（「按公允 價值計入其他全面收益」）之金融資產及按 公允價值計入損益（「按公允價值計入損 益」）之金融資產除外，其按公允價值計 量。

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Perfect Optronics Limited Annual Report 2025

Notes to the Consolidated Financial Statements 綜合財務報表附註

2 SUMMARY OF ACCOUNTING POLICIES (Continued)

• 2.1 Basis of preparation (Continued)

• (a) Going concern basis

For the year ended 31 December 2025, the Group recorded a loss for the year of HK$13,333,000 (2024: HK$43,641,000) and had a net cash outflow from operating activities of HK$11,833,000 (2024: HK$18,014,000). As at 31 December 2025, the Group’s net current assets position was HK$26,833,000 (2024: HK$41,117,000) with only cash and cash equivalents of HK$18,244,000 (2024: HK$24,407,000). The Group experienced recurring losses and multiple challenges from frequent changes in market demands and the external macro-environment which pose negative impact on the Group’s sales performance.

The above conditions indicate the existence of a material uncertainty which may cast significant doubt about the ability of the Group to continue as a going concern. The Board has assessed the appropriateness of adopting the going concern basis for the preparation of the consolidated financial statements for the year ended 31 December 2025. In order to improve the Group’s liquidity and financial position, the Group has been implementing various measures as follows:

• (i) the Group will continue to dispose of its financial asset at FVTPL with a carrying amount of HK$9,911,000 as at 31 December 2025 within a certain period;

• (ii) the Group will continue to take initiatives to implement cost control measures, including adjusting human resources;

• (iii) the Group will continue to implement plans and measures to improve the sales of the Group so as to generate operating cash inflow; and

• (iv) the Group will continue its efforts to implement measures to strengthen its operating cash flows and working capital position, including not commencing any significant capital expenditure programmes in the near term.

2 會計政策概要（續）

2.1 編製基準（續）

(a) 持續經營基礎

截至二零二五年十二月三十一日止年度， 本集團錄得年度虧損13,333,000港元（二 零二四年：43,641,000港元）及經營活動 淨現金流出11,833,000港元（二零二四 年：18,014,000港元）。於二零二五年十二 月三十一日，本集團之淨流動資產為 26,833,000港元（二零二四年：41,117,000 港元），而現金及現金等價物僅為 18,244,000港元（二零二四年：24,407,000 港元) 。本集團經歷持續虧損及面對市場 需求頻繁變化及外圍宏觀環境的多重挑 戰，對本集團的銷售表現產生負面影響。

上述狀況表明存在重大不確定性，其可能 會對本集團持續經營的能力構成重大疑 慮。董事會已評估採用持續經營基礎編製 截至二零二五年十二月三十一日止年度綜 合財務報表的適當性。為改善本集團的流 動資金和財務狀況，本集團已實施以下各 項措施：

• (i) 本集團將持續於若干期間內出售其 於二零二五年十二月三十一日賬面 值為9,911,000港元的按公允價值計 入損益之金融資產；

• (ii) 本集團將持續積極實施成本控制措 施，包括調整人力資源；

• (iii) 本集團將持續實施計劃和措施以改 善本集團之銷售，從而產生經營性 現金流入；及

• (iv) 本集團將繼續努力採取措施，加強 其營運現金流量和營運資金狀況， 包括在近期內不啟動任何重大資本 開支計劃。

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圓美光電有限公司 2025 年報

Notes to the Consolidated Financial Statements 綜合財務報表附註

2 SUMMARY OF ACCOUNTING POLICIES (Continued)

2.1 Basis of preparation (Continued)

• (a) Going concern basis (Continued)

The Board has reviewed the Group’s cashflow forecast prepared by management which covers a period of not less than twelve months from 31 December 2025. The Board, after making due enquiries and considering the basis of management’s cashflow forecast described above and after taking into account the reasonably possible changes in the operation performance of the Group, believes there will be sufficient financial resources available to the Group for at least twelve months after 31 December 2025 to meet its financial obligations as and when they fall due. Accordingly, the Board considers that it is appropriate to prepare the consolidated financial statements on a going concern basis.

Notwithstanding the above, a material uncertainty exists as to whether management of the Group is able to achieve its plans and measures as described above. Whether the Group will be able to continue as a going concern would depend upon the Group’s ability to generate adequate cash flows through achieving the below plans and measures:

• (i) Successful disposal of its financial asset at FVTPL within a certain period and at a reasonable price to generate the cash flow as planned;

• (ii) Successful implementation of the plans and measures to improve the sales of the Group so as to generate operating cash inflow; and

• (iii) Successful implementation of measures to control operating costs and not commencing any significant capital expenditure programmes in the near term, so as to improve the Group’s cash flow position.

Should the Group be unable to continue as a going concern, adjustments would have to be made to write down the carrying values of the Group’s assets to their recoverable amounts, to provide for any further liabilities which might arise, and to reclassify non-current assets and non-current liabilities as current assets and current liabilities, respectively. The effects of these adjustments have not been reflected in the consolidated financial statements.

2 會計政策概要（續）

2.1 編製基準（續）

(a) 持續經營基礎（續）

董事會已審閱了管理層編製的本集團現金 流預測，該預測涵蓋自二零二五年十二月 三十一日起不少於十二個月的期間。董事 會經作出適當查詢及考慮上述管理層現金 流預測的基礎及計及本集團經營表現的合 理可能變動後，相信於二零二五年十二月 三十一日後的最少十二個月內，本集團將 具備足夠的財務資源以履行其到期的財務 責任。因此，董事會認為以持續經營基礎 編製綜合財務報表乃屬適當。

儘管如此，本集團管理層是否能夠實現其 上述的計劃和措施存在重大不確定性。本 集團能否持續經營取決於本集團透過實現 以下計劃和措施產生充足現金流的能力：

• (i) 成功於若干期間內以合理價格出售 其按公允價值計入損益之金融資產 以產生按計劃的現金流；

• (ii) 成功實施計劃及措施提升本集團的 銷售，從而產生經營性現金流入； 及

• (iii) 成功採取措施控制經營開支，以及 近期內不啟動任何重大資本開支計 劃，從而改善本集團的現金流狀況。

倘本集團無法持續經營，則需要作出調 整，以撇減本集團資產的賬面價值至其可 收回金額，為日後可能產生的任何負債計 提撥備，並將非流動資產及非流動負債分 別重新分類至流動資產和流動負債。該等 調整的影響尚未於綜合財務報表內反映。

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Perfect Optronics Limited Annual Report 2025

Notes to the Consolidated Financial Statements 綜合財務報表附註

2 SUMMARY OF ACCOUNTING POLICIES (Continued)

• 2.1 Basis of preparation (Continued)

(b) New and amended standards adopted by the Group

The Group has applied the following amendment to standards for the first time for its annual reporting period commencing 1 January 2025:

Lack of Exchangeability[—] amendments to HKAS 21 and HKFRS 1

The amendments listed above did not have any impact on the amounts recognised in prior periods and are not expected to significantly affect the current or future periods.

2 會計政策概要（續）

2.1 編製基準（續）

• (b) 本集團採納之新訂及經修訂準則

本集團於二零二五年一月一日開始的年度 報告期間首次採用以下經修訂準則︰

• 缺乏可兌換性[—] 香港會計準則第21號及 香港財務報告準則第1號之修訂

上文列出的修訂對過往期間確認的金額概 無任何影響，並預期不會對當前或未來期 間產生重大影響。

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圓美光電有限公司 2025 年報

Notes to the Consolidated Financial Statements 綜合財務報表附註

2 SUMMARY OF ACCOUNTING POLICIES (Continued)

• 2.1 Basis of preparation (Continued)

• (c) New and amended standards and interpretations not yet adopted

Certain new accounting standards and amendments to accounting standards have been published that are not mandatory for 31 December 2025 reporting periods and have not been early adopted by the Group:

Classification and Measurement of Financial Instruments — Amendments to HKFRS 9 and HKFRS 7[(1)]

Annual Improvements to HKFRS Accounting Standards — Volume 11 — HKFRS 1, HKFRS 7, HKFRS 9, HKFRS 10 and HKAS 7[(1)]

Contracts Referencing Nature-dependent Electricity — Amendments to HKFRS 9 and HKFRS 7[(1)]

Presentation and Disclosure in Financial Statements — HKFRS 18[(2)]

Subsidiaries without Public Accountability: Disclosures — HKFRS 19[(2)] Hong Kong Interpretation 5 Presentation of Financial Statements — Classification by the Borrower of a Term Loan that Contains a Repayment on Demand Clause — Amendments to HK Int 5[(2)] Sale or Contribution of Assets between an Investor and its Associate or Joint Ventures — Amendments to HKFRS 10 and HKAS 28[(3)]

• (1) Effective for annual periods beginning on or after 1 January 2026

(2) Effective for annual periods beginning on or after 1 January 2027

(3) Effective date is to be determined

The directors have performed assessment on the new and amended standards and interpretation, and has concluded on a preliminary basis that these new and amended standards and interpretation would not have a significant impact on the Group’s consolidated financial statements when they become effective, except for HKFRS 18 which will impact the presentation of profit and loss. The Group is still in the process of evaluating the impact of adoption of HKFRS 18.

2 會計政策概要（續）

2.1 編製基準（續）

(c) 尚未採納之新訂及經修訂準則及詮釋

若干新會計準則及會計準則修訂已頒布， 惟並非於截至二零二五年十二月三十一日 報告期間強制實施，且本集團尚未提前採 納：

• 金融工具分類及計量的修訂 — 香港財務 報告準則第9號及香港財務報告準則第 7號的修訂[(1)]

• 香港財務報告會計準則之年度改進 — 第 11卷 — 香港財務報告準則第1號、香港 財務報告準則第7號、香港財務報告準 則第9號、香港財務報告準則第10號及 香港會計準則第7號[(1)]

• 涉及自然依賴電力的合約 — 香港財務報 告準則第9號和香港財務報告準則第7號 的修訂[(1)]

• 財務報表列報和披露 — 香港財務報告準 則第18號[(2)]

• 非公共受託責任附屬公司：披露 — 香港 財務報告準則第19號[(2)]

• 香港詮釋第5號財務報表之列報 — 借款人 按要求償還條款之有期貸款之分類 — 香港詮釋第5號的修訂[(2)]

• 投資者與其聯營或合營企業之間的資產出 售或注資 — 香港財務報告準則第10號 及香港會計準則第28號的修訂[(3)]

(1) 適用於二零二六年一月一日或之後開始的年 度期間

(2) 適用於二零二七年一月一日或之後開始的年 度期間

(3) 生效日期待定

董事已對該等新準則、修訂準則及詮釋進 行評估，並初步認為該等新準則及修訂準 則及詮釋在生效後不會對本集團綜合財務 報表產生重大影響，惟香港財務報告準則 第18號將會影響損益表的列報方式。本集 團仍在評估採納香港財務報告準則第18號 的具體影響。

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Notes to the Consolidated Financial Statements 綜合財務報表附註

2 SUMMARY OF ACCOUNTING POLICIES (Continued)

2.2 Summary of material accounting policies

2.2.1 Principles of consolidation

Subsidiaries are all entities over which the Group has control. The Group controls an entity when the Group is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power to direct the activities of the entity. Subsidiaries are fully consolidated from the date on which control is transferred to the Group. They are deconsolidated from the date that control ceases.

The acquisition method of accounting is used to account for business combinations by the Group.

Inter-company transactions, balances and unrealised gains on transactions between group companies are eliminated. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the transferred asset. Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the Group.

Non-controlling interests in the results and equity of subsidiaries are shown separately in the consolidated statement of comprehensive income, consolidated statement of changes in equity and consolidated statement of financial position respectively.

2 會計政策概要（續）

2.2 重大會計政策概要

2.2.1 綜合賬目原則

附屬公司乃指本集團對其有控制權的所有 實體（包括結構性實體）。若本集團具有承 擔或享有參與有關實體所得之可變回報的 風險或權利，並能透過其主導該實體活動 的權力影響該等回報，即本集團對該實體 具有控制權。附屬公司由控制權轉至本集 團之日起全數綜合計算，控制權終止之日 停止綜合計算。

對本集團的業務合併進行會計處理時使用 收購會計法。

集團內公司間之交易、結餘及集團內公司 間交易產生之未變現收益予以對銷。未變 現虧損亦予以對銷，除非交易提供了已轉 讓資產的減值證明。如有必要，更改附屬 公司的會計政策以確保與本集團採用的政 策一致。

附屬公司業績及權益中的非控股權益分別 於綜合全面收益表、綜合權益變動表及綜 合財務狀況表中單獨呈列。

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圓美光電有限公司 2025 年報

Notes to the Consolidated Financial Statements 綜合財務報表附註

2 SUMMARY OF ACCOUNTING POLICIES (Continued)

• 2.2 Summary of material accounting policies (Continued)

2.2.2 Separate financial statements

Investments in subsidiaries are accounted for at cost less impairment. Cost includes direct attributable costs of investment. The results of subsidiaries are accounted for by the Company on the basis of dividend received and receivable.

Impairment testing of the investments in subsidiaries is required upon receiving a dividend from these investments if the dividend exceeds the total comprehensive income of the subsidiary in the period the dividend is declared or if the carrying amount of the investment in the separate financial statements exceeds the carrying amount in the consolidated financial statements of the investee’s net assets including goodwill.

2.2.3 Foreign currency translation

(a) Functional and presentation currency

Items included in the financial statements of each of the Group’s entities are measured using the currency of the primary economic environment in which the entity operates (the “functional currency”). The consolidated financial statements are presented in HK$, which is the Company’s functional and the Group’s presentation currency.

2 會計政策概要（續）

• 2.2 重大會計政策概要（續）

2.2.2 獨立財務報表

於附屬公司之投資按成本扣除減值入賬。 成本亦包括投資之直接歸屬成本。附屬公 司之業績在本公司賬目內按已收及應收股 息入賬。

倘自附屬公司收取之股息超過宣派股息期 間該附屬公司之綜合收益總額，或倘在獨 立財務報表之投資賬面值超出綜合財務報 表所示被投資公司之資產淨值（包括商譽） 之賬面值，則須於收取該等投資之股息時 對該等附屬公司之投資進行減值測試。

2.2.3 外幣折算

(a) 功能及列報貨幣

本集團每個實體的財務資料所列項目均以 該實體經營所在的主要經濟環境的貨幣 （「功能貨幣」）計量。綜合財務報表以港元 列報，港元為本公司的功能貨幣及本集團 的列報貨幣。

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Notes to the Consolidated Financial Statements 綜合財務報表附註

2 SUMMARY OF ACCOUNTING POLICIES (Continued)

• 2.2 Summary of material accounting policies (Continued)

2.2.3 Foreign currency translation (Continued)

(b) Transactions and balances

Foreign currency transactions are translated into the functional currency using the exchange rates prevailing at the dates of the transactions or valuation where items are re-measured. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at year-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the consolidated statement of comprehensive income within “other gains/(losses), net”.

Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. Translation differences on assets and liabilities carried at fair value are reported as part of the fair value gain or loss. For example, translation differences on equities held at fair value through profit or loss are recognised in profit or loss as part of the fair value gain or loss and translation differences on equities classified as fair value through other comprehensive income are recognised in other comprehensive income as part of the fair value gain or loss.

(c) Group companies

The results and financial position of all the Group entities (none of which has the currency of a hyperinflationary economy) that have a functional currency different from the presentation currency are translated into the presentation currency as follows:

• assets and liabilities for each statement of financial position presented are translated at the closing rate at the date of that statement of financial position,

2 會計政策概要（續）

• 2.2 重大會計政策概要（續）

2.2.3 外幣折算（續）

(b) 交易及結餘

外幣交易採用交易當日或項目重新計量的 估值日期的匯率折算為功能貨幣。由結算 有關交易產生及將外幣計值的貨幣資產和 負債以年終匯率折算產生的匯兌收益和損 失在綜合全面收益表中「其他收益╱（虧 損）淨額」內確認。

以外幣按公允價值計量的非貨幣項目使用 公允價值釐定當日的匯率換算。按公允價 值列賬的資產及負債的換算差額作為公允 價值收益或虧損的一部分呈報。舉例而 言，按公允價值計入損益之權益的換算差 額乃於損益內作為公允價值收益或虧損的 一部分確認，而分類為按公允價值計入其 他全面收益之權益的換算差額則於其他全 面收益內作為公允價值收益或虧損的一部 分確認。

(c) 集團公司

所有集團實體（全部均非採用高通脹經濟 體系的貨幣）的功能貨幣倘有別於列報貨 幣，其業績及財務狀況須按如下方式折算 為列報貨幣：

• 每份列報的財務狀況表內的資產和 負債按該財務狀況表日期的收市匯 率折算；

圓美光電有限公司 2025 年報 113

Notes to the Consolidated Financial Statements 綜合財務報表附註

2 SUMMARY OF ACCOUNTING POLICIES (Continued)

• 2.2 Summary of material accounting policies (Continued)

2.2.3 Foreign currency translation (Continued)

(c) Group companies (Continued)

• income and expenses for each income statement are translated at average exchange rates (unless this average is not a reasonable approximation of the cumulative effect of the rates prevailing on the transaction dates, in which case income and expenses are translated at the dates of the transactions), and

• all resulting currency translation differences are recognised in other comprehensive income.

On consolidation, exchange differences arising from the translation of any net investment in foreign entities, and of borrowings and other financial instruments designated as hedges of such investments, are recognised in other comprehensive income. When a foreign operation is sold or any borrowings forming part of the net investment are repaid, the associated exchange differences are reclassified to profit or loss, as part of the gain or loss on sale.

Goodwill and fair value adjustments arising on the acquisition of a foreign entity are treated as assets or liabilities of the foreign entity and translated at the closing rate.

(d) Disposal of foreign operation

On the disposal of a foreign operation (that is, a disposal of the Group’s entire interest in a foreign operation, or a disposal involving loss of control over a subsidiary that includes a foreign operation, a disposal involving loss of joint control over a joint venture that includes a foreign operation, or a disposal involving loss of significant influence over an associate that includes a foreign operation), all of the currency translation differences accumulated in equity in respect of that operation attributable to equity holders of the Company are reclassified to profit or loss.

2 會計政策概要（續）

2.2 重大會計政策概要（續）

2.2.3 外幣折算（續）

(c) 集團公司（續）

• 每份收益表內的收益和費用按平均 匯率折算（除非此平均匯率並不代表 交易日期匯率的累計影響的合理約 數；在此情況下，收支項目於交易 日期折算）；及

• 所有由此產生的外幣折算差異在其 他全面收益中確認。

於綜合入賬時，換算於外國實體的任何淨 投資及換算指定為有關投資的對沖的借貸 及其他金融工具所產生的匯兌差額乃於其 他全面收益內確認。在出售外國業務或構 成淨投資的任何借貸償還時，相關匯兌差 額重新分類至損益（作為銷售收益或虧損 的一部分）。

收購境外實體時產生的商譽及公允價值調 整乃作為該境外實體的資產或負債處理， 並按收市匯率換算。

(d) 出售外國業務

於出售外國業務（即出售本集團於外國業 務之全部權益，或涉及失去擁有外國業務 之附屬公司控制權、涉及失去擁有外國業 務之合營企業共同控制權，或涉及失去擁 有外國業務之聯營公司的控制權）時，本 公司權益持有人應佔就該業務於權益內累 計之外幣換算差額全部重新分類至損益。

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Notes to the Consolidated Financial Statements 綜合財務報表附註

2 SUMMARY OF ACCOUNTING POLICIES (Continued)

• 2.2 Summary of material accounting policies (Continued)

2.2.4 Investments and other financial assets

(a) Classification

The Group classifies its financial assets in the following measurement categories:

• those to be measured subsequently at fair value (either through other comprehensive income or through profit or loss), and

• those to be measured at amortised cost.

The classification depends on the entity’s business model for managing the financial assets and the contractual terms of the cash flows.

For assets measured at fair value, gains and losses will either be recorded in profit or loss or other comprehensive income. For investments in equity instruments that are not held for trading, this will depend on whether the Group has made an irrevocable election at the time of initial recognition to account for the equity investment at FVOCI.

The Group reclassifies debt investments when and only when its business model for managing those assets changes.

(b) Recognition and derecognition

Regular way purchases and sales of financial assets are recognised on trade-date, the date on which the Group commits to purchase or sell the asset. Financial assets are derecognised when the rights to receive cash flows from the financial assets have expired or have been transferred and the Group has transferred substantially all the risks and rewards of ownership.

2 會計政策概要（續）

2.2 重大會計政策概要（續）

2.2.4 投資及其他金融資產

(a) 分類

本集團將其金融資產分類為以下計量類 別：

• 其後按公允價值計量（不論計入其他 全面收益或損益）；及

• 按攤銷成本計量。

分類視乎該實體管理金融資產之業務模式 及現金流量之合約年期。

就按公允價值計量之資產而言，收益及虧 損將計入損益或其他全面收益。就並非持 作買賣之股本工具投資而言，將視乎本集 團是否已於初步確認時作出不可撤回選擇 將股本投資按公允價值計入其他全面收 益。

本集團只限於其管理該等資產之業務模式 改變時方會將債務投資重新分類。

(b) 確認及取消確認

常規購買及出售的金融資產在交易日確認 — 交易日指本集團承諾購買或出售該資 產當日。當從金融資產收取現金流量的權 利已到期或已轉讓，而本集團已實質上將 所有權的所有風險和報酬轉讓時，金融資 產即終止確認。

115

圓美光電有限公司 2025 年報

Notes to the Consolidated Financial Statements 綜合財務報表附註

2 SUMMARY OF ACCOUNTING POLICIES (Continued)

• 2.2 Summary of material accounting policies (Continued)

• 2.2.4 Investments and other financial assets (Continued)

(c) Measurement

At initial recognition, the Group measures a financial asset at its fair value (except for trade receivable) plus, in the case of a financial asset not at FVTPL, transaction costs that are directly attributable to the acquisition of the financial asset. Transaction costs of financial assets carried at FVTPL are expensed in profit or loss.

Financial assets with embedded derivatives are considered in their entirety when determining whether their cash flows are solely payment of principal and interest.

Debt investments

Subsequent measurement of debt instruments depends on the Group’s business model for managing the asset and the cash flow characteristics of the asset. There are three measurement categories into which the Group classifies its debt instruments:

• Amortised cost: Assets that are held for collection of contractual cash flows where those cash flows represent solely payments of principal and interest are measured at amortised cost. Interest income from these financial assets is included in finance income using the effective interest rate method. Any gain or loss arising on derecognition is recognised directly in profit or loss and presented in “other gains/(losses), net” together with foreign exchange gains and losses. Impairment losses are presented as separate line item in profit or loss.

2 會計政策概要（續）

• 2.2 重大會計政策概要（續）

• 2.2.4 投資及其他金融資產（續）

(c) 計量

於初步計量時，本集團按金融資產之公允 價值（應收賬款除外）另加（倘金融資產並 非按公允價值計入損益）收購金融資產直 接應佔之交易成本計量金融資產。按公允 價值計入損益之金融資產之交易成本於損 益支銷。

在確定具有嵌入衍生工具的金融資產的現 金流量是否僅支付本金和利息時，需從金 融資產的整體進行考慮。

債務投資

債務工具的後續計量取決於本集團管理該 項資產時商業模式和該項資產的現金流量 特點。本集團按照以下三種計量方式對債 務工具進行分類：

• 攤銷成本：為收取合約現金流量而 持有，且其現金流量僅支付本金和 利息的資產被分類成以攤銷成本計 量的金融資產。該金融資產的利息 收入採用實際利率法，並在財務收 入中確認。由於終止確認產生的任 何收益或虧損，連同外幣匯兌收益 及虧損，均直接在損益中確認並於

• 「其他收益╱（虧損）淨額」中呈列。 減值虧損則於損益內作為獨立項目 呈列。

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Notes to the Consolidated Financial Statements 綜合財務報表附註

2 SUMMARY OF ACCOUNTING POLICIES (Continued)

• 2.2 Summary of material accounting policies (Continued)

• 2.2.4 Investments and other financial assets (Continued)

• (c) Measurement (Continued) Debt investments (Continued)

• FVOCI: Assets that are held for collection of contractual cash flows and for selling the financial assets, where the assets’ cash flows represent solely payments of principal and interest, are measured at FVOCI. Movements in the carrying amount are taken through other comprehensive income, except for the recognition of impairment gains or losses, interest income and foreign exchange gains and losses which are recognised in profit or loss. When the financial asset is derecognised, the cumulative gains or losses previously recognised in other comprehensive income is reclassified from equity to profit or loss and recognised in other gains/(losses), net. Interest income from these financial assets is included in finance income using the effective interest rate method. Foreign exchange gains and losses are presented in other gains/(losses), net and impairment expenses are presented as separate line item in profit or loss.

• FVTPL: Assets that do not meet the criteria for amortised cost or FVOCI are measured at FVTPL. A gain or loss on a debt investment that is subsequently measured at FVTPL is recognised in profit or loss and presented within “other gains/(losses), net” in the period in which it arises.

2 會計政策概要（續）

• 2.2 重大會計政策概要（續）

• 2.2.4 投資及其他金融資產（續）

• (c) 計量（續）

債務投資（續）

• 按公允價值計入其他全面收益：以 收取合約現金流量及出售該金融資 產為目的而持有，且其現金流量僅 支付本金和利息的資產，以按公允 價值計入其他全面收益之方式計 量。除確認減值虧損、利息收入及 匯兌損益計入綜合全面收益表外， 賬面價值變動計入其他全面收益。 當金融資產終止確認時，以前在計 入損益的累計收益或虧損從權益重 分類至損益中，並在「其他收益╱

• （虧損）淨額」中確認。該等金融資產 的利息收入用實際利率法計算，計 入財務收入。匯兌收益及虧損在「其 他收益╱（虧損）淨額」中呈列，而減 值開支則於損益內作為獨立項目呈 列。

• 按公允價值計入損益：不符合以攤 銷成本計量或按公允價值計入其他 全面收益的資產，被分類為以按公 允價值計入損益的金融資產。後續 以按公允價值計入損益之方式計 量，且由債務投資產生的收益或虧 損，須在損益中確認，且在產生期 間以淨額列示於「其他收益╱（虧損） 淨額」。

圓美光電有限公司 2025 年報 117

Notes to the Consolidated Financial Statements 綜合財務報表附註

2 SUMMARY OF ACCOUNTING POLICIES (Continued)

• 2.2 Summary of material accounting policies (Continued)

2.2.4 Investments and other financial assets (Continued)

(c) Measurement (Continued)

Equity instruments

The Group subsequently measures all equity investments at fair value. Where the Group’s management has elected to present fair value gains and losses on equity investments in other comprehensive income, there is no subsequent reclassification of fair value gains and losses to profit or loss following the derecognition of the investment. Dividends from such investments continue to be recognised in profit or loss as other income when the Group’s right to receive payments is established.

Changes in the fair value of financial assets at FVTPL are recognised in profit or loss as other gains/(losses), net as applicable.

(d) Impairment

The Group assesses on a forward looking basis the expected credit losses associated with its debt instruments carried at amortised cost and FVOCI. The impairment methodology applied depends on whether there has been a significant increase in credit risk.

For trade receivables, the Group applies the simplified approach under HKFRS 9, which requires expected lifetime losses to be recognised from initial recognition of the receivables.

2 會計政策概要（續）

• 2.2 重大會計政策概要（續）

2.2.4 投資及其他金融資產（續）

(c) 計量（續）

權益工具

本集團所有權益工具後續以公允價值計 量。如果本集團管理層選擇將權益工具的 公允價值變動損益計入其他全面收益，則 終止確認投資之後不可再將公允價值損益 重新分類至損益。當本集團取得收取付款 之權利時，該類投資的股息將繼續在損益 中作為其他收入予以確認。

按公允價值計入損益的金融資產的公允價 值變動在損益中作為「其他收益╱（虧損） 淨額」確認（如適用）。

(d) 減值

對於以攤銷成本計量和按公允價值計入其 他全面收益的債務工具，本集團就預期信 貸虧損做出前瞻性評估。應用之減值方法 取決於信貸風險是否顯著增加。

對於應收賬款，本集團根據香港財務報告 準則第9號下的應用簡化方式，其規定預 期全期虧損自應收賬款之初步確認中確 認。

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Notes to the Consolidated Financial Statements 綜合財務報表附註

2 SUMMARY OF ACCOUNTING POLICIES (Continued)

2.2 Summary of material accounting policies (Continued)

2.2.5 Inventories

Inventories are stated at the lower of cost and net realisable value. Cost is determined using the weighted average method. The cost of finished goods and work in progress comprises raw materials and other direct costs. Net realisable value is the estimated selling price in the ordinary course of business less the estimated costs of completion and the estimated costs necessary to make the sale.

2.2.6 Trade receivables

Trade receivables are amounts due from customers for merchandise sold or services performed in the ordinary course of business. If collection of trade receivables is expected in one year or less (or in the normal operating cycle of the business if longer), they are classified as current assets. If not, they are presented as non-current assets. Trade receivables are recognised initially at the amount of consideration that is unconditional, unless they contain significant financing components, in which they are recognised at fair value. The Group holds the trade receivables with the objective of collecting the contractual cash flows and therefore it measures them subsequently at amortised cost using the effective interest method.

2.2.7 Other receivable

These amounts generally arise from transactions outside the usual operating activities of the Group. Interest can be charged at market rates where the terms of repayment exceed six months. Collateral is not normally obtained.

2 會計政策概要（續）

2.2 重大會計政策概要（續）

2.2.5 存貨

存貨乃按成本及可變現淨值兩者之較低者 列賬。成本乃按加權平均法釐定。製成品 及在製品的成本包括原料及其他直接成 本。可變現淨值為於日常業務過程中的估 計售價減估計完成成本及估計作出銷售所 需成本。

2.2.6 應收賬款

應收賬款為在日常業務運作中出售貨品或 提供服務而應收的客戶款項。倘應收賬款 預計將在一年或一年以內收回（或如屬較 長時間，則以一般營運業務週期為準）， 則分類為流動資產。否則，則呈列於非流 動資產。應收賬款於初步確認時，按無條 件應收的代價金額確認，惟如其包含重大 融資成份，則按公允值確認。本集團持有 應收賬款的目的為收取合約現金流，因此 其後採用實際利率法按攤銷成本計量。

2.2.7 其他應收款

這些金額通常來自本集團日常經營活動以 外的交易。若還款期限超過六個月，利息 可按市場利率計收。通常不取得抵押品。

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圓美光電有限公司 2025 年報

Notes to the Consolidated Financial Statements 綜合財務報表附註

2 SUMMARY OF ACCOUNTING POLICIES (Continued)

• 2.2 Summary of material accounting policies (Continued)

2.2.8 Revenue recognition

Sales of goods

Sales of goods are recognised when control of the products has transferred, being when the products are delivered to the customer, the customer has full discretion over the products, and there is no unfulfilled obligation that could affect the customer’s acceptance of the products. Delivery occurs when the products have been shipped to the specified location, the risks of obsolescence and loss have been transferred to the customer, and either the customer has accepted the products in accordance with the sales contract, the acceptance provisions have lapsed, or the Group has objective evidence that all criteria for acceptance have been satisfied.

A receivable is recognised when the goods are delivered as this is the point in time that the consideration is unconditional because only the passage of time is required before the payment is due.

• 2.3 Summary of other accounting policies

2.3.1 Business combinations

Except for the reorganisation for the listing of the Company and business combinations under common control, the Group applies the acquisition method to account for business combinations. The consideration transferred for the acquisition of a subsidiary comprises the:

• fair values of the assets transferred

• liabilities incurred to the former owners of the acquired business

• equity interests issued by the Group

• fair value of any asset or liability resulting from a contingent consideration arrangement, and

• fair value of any pre-existing equity interest in the subsidiary.

2 會計政策概要（續）

• 2.2 重大會計政策概要（續）

2.2.8 收入確認

產品銷售

貨品銷售於產品控制權轉移，即當產品交 付客戶、客戶對產品擁有全權酌情權且概 無可能影響客戶接納產品之未履行責任時 予以確認。當產品已運送到指定地點，產 品陳舊及遺失的風險已轉移至客戶，及客 戶按照銷售合約接納產品，或接納條款已 失效，或本集團有客觀證據證明所有接納 標準均已達成時，交付即告完成。

應收款項於交付貨品時確認，原因為付款 到期前僅須待時間過去，故代價於此時間 點為無條件。

2.3 其他會計政策概要

2.3.1 業務合併

除本公司上市進行的重組及共同控制下的 業務合併以外，本集團採用收購法為業務 合併入賬。收購附屬公司的轉讓代價包 括：

• 已轉讓資產的公允價值

• 被收購業務原擁有人所承擔負債

• 本集團發行的股本權益

• 因或然代價安排而產生的任何資產 或負債的公允價值，及

• 於附屬公司任何先前已存在股權的 公允價值。

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Perfect Optronics Limited Annual Report 2025

Notes to the Consolidated Financial Statements 綜合財務報表附註

2 SUMMARY OF ACCOUNTING POLICIES (Continued)

• 2.3 Summary of other accounting policies (Continued)

2.3.1 Business combinations (Continued)

Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are, with limited exceptions, measured initially at their fair values at the acquisition date. The Group recognises any non-controlling interest in the acquired entity on an acquisition-by-acquisition basis either at fair value or at the non-controlling interest’s proportionate share of the acquired entity’s net identifiable assets.

Acquisition-related costs are expensed as incurred.

The excess of the:

• consideration transferred,

• amount of any non-controlling interest in the acquired entity, and

• acquisition-date fair value of any previous equity interest in the acquired entity

over the fair value of the net identifiable assets acquired is recorded as goodwill. If those amounts are less than the fair value of the net identifiable assets of the business acquired, the difference is recognised directly in profit or loss as a bargain purchase.

Where settlement of any part of cash consideration is deferred, the amounts payable in the future are discounted to their present value as at the date of exchange. The discount rate used is the entity’s incremental borrowing rate, being the rate at which a similar borrowing could be obtained from an independent financier under comparable terms and conditions. Contingent consideration is classified either as equity or a financial liability. Amounts classified as a financial liability are subsequently remeasured to fair value with changes in fair value recognised in profit or loss.

If the business combination is achieved in stages, the acquisition date carrying value of the acquirer’s previously held equity interest in the acquiree is remeasured to fair value at the acquisition date. Any gains or losses arising from such remeasurement are recognised in profit or loss.

2 會計政策概要（續）

2.3 其他會計政策概要（續）

2.3.1 業務合併（續）

於業務合併中收購的可識別資產及承擔的 負債及或然負債初步按於收購日期的公允 價值計量（存在有限的例外情況）。本集團 以逐項購買基準，按公允價值或按非控股 權益所佔被收購實體可識別資產淨值的比 例確認於被收購實體的任何非控股權益。

收購相關成本於產生時列為開支。

當：

• 所轉讓代價，

• 被收購實體的任何非控股權益金 額，及

• 於被收購實體先前的任何股本權益 於收購日期的公允價值

• 超出所收購可識別資產淨值的公允價值 時，其差額以商譽列賬。倘該等款項低於 所收購業務的可識別資產淨值的公允價 值，則差額將直接於損益中確認為議價購 買。

倘任何部分現金代價的結算被遞延，日後 應付的金額貼現至其於交換日期的現值。 所使用的貼現率為該實體的遞增借貸率， 即可根據可比較條款及條件向獨立財務機 構取得類似借款的利率。或然代價分類為 權益或金融負債。分類為金融負債的金額 其後將重新按公允價值計量，而公允價值 變動於損益中確認。

倘業務合併分階段進行，則收購方先前持 有的被收購方股本權益於收購日期的賬面 值於收購日期重新按公允價值計量。任何 因該項重新計量產生的收益或虧損於損益 中確認。

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圓美光電有限公司 2025 年報

Notes to the Consolidated Financial Statements 綜合財務報表附註

2 SUMMARY OF ACCOUNTING POLICIES (Continued)

2.3 Summary of other accounting policies (Continued)

2.3.2 Segment reporting

Operating segments are reported in a manner consistent with the internal reporting provided to the chief operating decision-maker. The chief operating decision-maker, who is responsible for allocating resources and assessing performance of the operating segments, has been identified as board of directors, who make strategic decisions.

2.3.3 Property, plant and equipment

Property, plant and equipment are stated at historical cost less accumulated depreciation. Historical cost includes expenditure that is directly attributable to the acquisition of the items.

Subsequent costs are included in the asset’s carrying amount or recognised as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the Group and the cost of the item can be measured reliably. The carrying amount of the replaced part is derecognised. All other repairs and maintenance are charged to profit or loss during the financial period in which they are incurred.

Depreciation on property, plant and equipment is calculated using the straight-line method to allocate their cost to their residual values over their estimated useful lives, as follows:

Leasehold improvements	Over the shorter of the
	useful life and lease
	term
Moulds and machinery	2–5 years
Furniture and office	3–5 years
equipment
Motor vehicles	4–5 years

The assets’ residual values and useful lives are reviewed, and adjusted if appropriate, at the end of each reporting period.

2 會計政策概要（續）

2.3 其他會計政策概要（續）

2.3.2 分部報告

經營分部的呈報方式與向首席經營決策者 呈報內部報告的方式一致。首席經營決策 者負責分配資源和評核各經營分部的表 現，並確定為作策略性決定的董事會。

2.3.3 物業、廠房及設備

物業、廠房及設備乃以歷史成本減累計折 舊後列賬。歷史成本包括與收購該等項目 直接應佔的開支。

後續成本只有在很可能為本集團帶來與該 項目有關的未來經濟利益，而該項目的成 本能可靠計量時，才包括在資產的賬面值 或確認為一項單獨資產（按適用）。被替代 部分的賬面值會被取消確認。所有其他維 修保養費於產生該等費用的財政期間的損 益列為開支。

物業、廠房及設備的折舊採用以下的估計 可使用年期將其成本按直線法分攤至剩餘 價值計算：

租賃樓宇裝修	使用年期或租期，
	取較短者
模具及機器	2至5年
傢俱及辦公室設備	3至5年
汽車	4至5年

資產的剩餘價值及可使用年期在每個報告 期末進行檢討，及在適當時調整。

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Notes to the Consolidated Financial Statements 綜合財務報表附註

2 SUMMARY OF ACCOUNTING POLICIES (Continued)

2.3 Summary of other accounting policies (Continued)

2.3.3 Property, plant and equipment (Continued)

An asset’s carrying amount is written down immediately to its recoverable amount if the asset’s carrying amount is greater than its estimated recoverable amount.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss within “other gains/(losses), net”.

2.3.4 Intangible assets

Club memberships

Club memberships with indefinite useful life are stated at cost less any impairment losses, which are tested annually for impairment.

2.3.5 Impairment of non-financial assets

Intangible assets that have an indefinite useful life are not subject to amortisation and are tested annually for impairment, or more frequently if events or changes in circumstances indicate that they might be impaired. Other assets are tested for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. An impairment loss is recognised for the amount by which the asset’s carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset’s fair value less costs to disposal and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows which are largely independent of the cash inflows from other assets or group of assets (cash-generating units). Non-financial assets other than goodwill that suffered an impairment are reviewed for possible reversal of the impairment at the end of each reporting period.

2 會計政策概要（續）

2.3 其他會計政策概要（續）

2.3.3 物業、廠房及設備（續）

若資產的賬面值高於其估計可收回價值， 其賬面值即時撇減至可收回金額。

出售的收益和損失按所得款與賬面值的差 額釐定，並在損益中的「其他收益╱（虧 損）淨額」內確認。

2.3.4 無形資產

會所會籍

無期限的會所會籍乃按成本值減任何減值 虧損列賬，且每年進行減值測試。

2.3.5 非金融資產減值

可使用年期為無期限的無形資產不作攤 銷，並會每年評估有否出現減值，或倘有 事件或情況變動顯示可能出現減值會更頻 繁進行評估。當出現若干事件或情況有所 改變而導致未必能收回賬面值時，會就其 他資產進行測試，以確定有否出現減值。 當資產賬面值超過可收回金額，則有關差 額確認為減值虧損，而可收回金額指資產 公允價值減出售成本與使用價值兩者的較 高者。就評估減值而言，資產按獨立可識 別現金流量（大部分獨立於其他資產或資 本組別所得現金流入）（現金產出單元）的 最低水平歸類。已減值之非金融資產（商 譽除外）於各報告期末檢討是否可能撥回 減值。

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圓美光電有限公司 2025 年報

Notes to the Consolidated Financial Statements 綜合財務報表附註

2 SUMMARY OF ACCOUNTING POLICIES (Continued)

2.3 Summary of other accounting policies (Continued)

2.3.6 Offsetting financial instruments

Financial assets and liabilities are offset and the net amount is reported in the consolidated statement of financial position when there is a legally enforceable right to offset the recognised amounts, and there is an intention to settle on a net basis or realise the asset and settle the liability simultaneously.

2.3.7 Cash and cash equivalents

For the purpose of presentation in the consolidated statement of cash flows, cash and cash equivalents include cash on hand, deposits held at call with banks, other short-term, highly liquid investments with original maturities of three months or less that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value.

2.3.8 Share capital

Ordinary shares are classified as equity.

Incremental costs directly attributable to the issue of new shares or options are shown in equity as a deduction, net of tax, from the proceeds.

2.3.9 Trade and other payables

Trade payables represent liabilities for goods and services provided to the Group prior to the end of financial year which are unpaid. Trade and other payables are classified as current liabilities if payment is due within one year or less (or in the normal operating cycle of the business if longer). If not, they are presented as non-current liabilities. Trade and other payables are recognised initially at fair value and subsequently measured at amortised cost using the effective interest method.

2 會計政策概要（續）

2.3 其他會計政策概要（續）

2.3.6 抵銷金融工具

金融資產及負債於擁有可依法強制執行權 利抵銷已確認金額及於擬按淨額基準結付 或同時變現資產及結付負債時予以抵銷； 有關淨額則於綜合財務狀況表內列報。

2.3.7 現金及現金等價物

就綜合現金流量表的呈列而言，現金及現 金等價物包括手頭現金、銀行通知存款及 流動性高且原有到期日在三個月或以下之 其他短期投資（可隨時轉換為已知金額的 現金及價值變動的風險很低）。

2.3.8 股本

普通股分類為權益。

與發行新股份或購股權直接有關的增量成 本，均列入權益作為所得款項的減少（扣 除稅項）。

2.3.9 應付賬款及其他應付款

應付賬款指於財政年度結束前向本集團提 供商品及服務的尚未支付負債。倘應付賬 款及其他應付款在一年或一年以內到期 （或如屬較長時間，則以一般營運業務週 期為準），則分類為流動負債。否則，應付 賬款及其他應付款則在非流動負債中呈 列。應付賬款及其他應付款初步以公允價 值確認，其後利用實際利息法按攤銷成本 計量。

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Notes to the Consolidated Financial Statements 綜合財務報表附註

2 SUMMARY OF ACCOUNTING POLICIES (Continued)

2.3 Summary of other accounting policies (Continued)

2.3.10 Borrowings

Borrowings are recognised initially at fair value, net of transaction costs incurred. Borrowings are subsequently stated at amortised cost. Any difference between the proceeds (net of transaction costs) and the redemption value is recognised in profit or loss over the period of the borrowings using the effective interest method. Fees paid on the establishment of loan facilities are recognised as transaction costs of the loan to the extent that it is probable that some or all of the facility will be drawn down. In this case, the fee is deferred until the draw-down occurs. To the extent there is no evidence that it is probable that some or all of the facility will be drawn down, the fee is capitalised as a prepayment for liquidity services and amortised over the period of the facility to which it relates.

Borrowings are removed from the consolidated statement of financial position when the obligation specified in the contract is discharged, cancelled or expired. The difference between the carrying amount of a financial liability that has been extinguished or transferred to another party and the consideration paid, including any non-cash assets transferred or liabilities assumed, is recognised in profit or loss as finance costs.

Borrowings are classified as current liabilities unless the Group has the right to defer settlement of the liability for at least 12 months after the end of the reporting period.

2 會計政策概要（續）

2.3 其他會計政策概要（續）

2.3.10 借貸

借貸初步按公允價值並扣除產生的交易成 本確認。借貸其後按攤銷成本列賬。所得 款（扣除交易成本）與贖回價值的任何差額 利用實際利息法於借貸期間內在損益確 認。倘很有可能提取部分或全部融資，則 會將設立貸款融資時支付的費用確認為貸 款交易成本。在此情況下，該項費用會遞 延入賬直至貸款提取為止。如沒有證據證 明部分或全部融資將很有可能被提取，則 該項費用資本化作為流動資金服務的預付 款項，並按有關融資期間攤銷。

當合約訂明的責任解除、取消或屆滿時， 借款自綜合財務狀況表剔除。已消除或轉 讓予另一方的金融負債的賬面值與已支付 代價（包括任何已轉讓的非現金資產或所 承擔的負債）之間的差額，在損益中確認 為財務費用。

除非本集團有權利將負債的結算遞延至報 告期末後最少12個月，否則借貸分類為流 動負債。

125

圓美光電有限公司 2025 年報

Notes to the Consolidated Financial Statements 綜合財務報表附註

2 SUMMARY OF ACCOUNTING POLICIES (Continued)

2.3 Summary of other accounting policies (Continued)

2.3.11 Borrowing costs

General and specific borrowing costs directly attributable to the acquisition, construction or production of qualifying assets, which are assets that necessarily take a substantial period of time to get ready for their intended use or sale, are added to the cost of those assets, until such time as the assets are substantially ready for their intended use or sale.

Investment income earned on the temporary investment of specific borrowings pending their expenditure on qualifying assets is deducted from the borrowing costs eligible for capitalisation.

All other borrowing costs are expensed in profit or loss in the period in which they are incurred.

2.3.12 Current and deferred income tax

The income tax expense or credit for the period is the tax payable on the current period’s taxable income based on the applicable income tax rate for each jurisdiction adjusted by changes in deferred income tax assets and liabilities attributable to temporary differences and to unused tax losses.

(a) Current income tax

The current income tax charge is calculated on the basis of the tax laws enacted or substantively enacted at the statement of financial position date in the countries or jurisdictions where the Group operates and generates taxable income. Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation. It establishes provisions where appropriate on the basis of amounts expected to be paid to the tax authorities.

2 會計政策概要（續）

2.3 其他會計政策概要（續）

2.3.11 借貸成本

直接歸屬於收購、興建或生產合資格資產 （指必須經一段長時間處理以作其預定用 途或銷售的資產）的一般及特定借貸成 本，加入該等資產的成本內，直至資產大 致上備妥供其預定用途或銷售為止。

就特定借貸，因有待合資格資產的支出而 臨時投資賺取的投資收入，應自合資格資 本化的借貸成本中扣除。

所有其他借貸成本在產生期內的損益中支 銷。

2.3.12 當期及遞延所得稅

期內所得稅費用或抵免指基於各司法權區 適用所得稅率計算的當期應課稅收入應繳 稅項，並就暫時性差額及未動用稅項虧損 所產生的遞延所得稅資產及負債變動作出 調整。

(a) 當期所得稅

當期所得稅費用根據本集團經營及產生應 課稅收入的國家或司法管轄區於財務狀況 表日已頒佈或實質上已頒佈的稅務法例計 算。管理層就適用稅務法例解釋所規限的 情況定期評估報稅表的狀況，並在適用情 況下根據預期須向稅務機關支付的稅款設 定撥備。

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Perfect Optronics Limited Annual Report 2025

Notes to the Consolidated Financial Statements 綜合財務報表附註

2 SUMMARY OF ACCOUNTING POLICIES (Continued)

• 2.3 Summary of other accounting policies (Continued)

2.3.12 Current and deferred income tax (Continued)

(b) Deferred income tax

Deferred income tax is provided, using the liability method, on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the consolidated financial statements. However, deferred income tax liabilities are not recognised if they arise from the initial recognition of goodwill. Deferred income tax is also not accounted for if it arises from initial recognition of an asset or liability in a transaction other than a business combination that at the time of the transaction affects neither accounting nor taxable profit or loss and does not give rise to equal taxable and deductible temporary differences. Deferred income tax is determined using tax rates (and laws) that have been enacted or substantially enacted by the end of the reporting period and are expected to apply when the related deferred income tax asset is realised or the deferred income tax liability is settled.

Deferred income tax assets are recognised only if it is probable that future taxable amounts will be available to utilise those temporary differences and losses.

Deferred income tax assets and liabilities are not recognised for temporary differences between the carrying amount and tax bases of investments in foreign operations where the Group is able to control the timing of the reversal of the temporary differences and it is probable that the differences will not reverse in the foreseeable future.

Deferred income tax assets and liabilities are offset when there is a legally enforceable right to offset current income tax assets and liabilities and when the deferred income tax balances relate to the same taxation authority. Current income tax assets and liabilities are offset where the entity has a legally enforceable right to offset and intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2 會計政策概要（續）

2.3 其他會計政策概要（續）

2.3.12 當期及遞延所得稅（續）

(b) 遞延所得稅

遞延所得稅利用負債法就資產和負債的稅 基與資產和負債在綜合財務報表的賬面值 的差額而產生的暫時性差異計提撥備。然 而，倘遞延所得稅負債產生自商譽的初始 確認，則不會確認遞延所得稅負債。倘遞 延所得稅來自在交易（不包括業務合併）中 對資產或負債的初始確認，而在交易時不 影響會計損益或應課稅利潤或損失及不會 產生相等的應課稅暫時性差異和可扣稅暫 時性差異，亦不作記賬。遞延所得稅採用 在報告期末前已頒佈或實質上已頒佈，並 在有關的遞延所得稅資產實現或遞延所得 稅負債結算時預期將會適用的稅率（及法 例）而釐定。

僅當可能有未來應課稅金額用於動用該等 暫時性差額及虧損時，方會確認遞延所得 稅資產。

倘本集團有能力控制暫時性差額的撥回時 機及差額可能不會在可見未來撥回的情況 下，不會就外國業務投資的賬面值與稅基 之間的暫時性差額確認遞延所得稅資產及 負債。

倘存在可依法強制執行權利以抵銷當期所 得稅資產及負債及當遞延稅項結餘與同一 稅務機關相關時，則會抵銷遞延所得稅資 產及負債。倘實體擁有可依法強制執行權 利以抵銷及擬按淨額基準結付，或同時變 現資產及結付負債，則會抵銷當期所得稅 資產及負債。

127

圓美光電有限公司 2025 年報

Notes to the Consolidated Financial Statements 綜合財務報表附註

2 SUMMARY OF ACCOUNTING POLICIES (Continued)

2.3 Summary of other accounting policies (Continued)

2.3.12 Current and deferred income tax (Continued)

(b) Deferred income tax (Continued)

Current and deferred income tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, the tax is also recognised in other comprehensive income or directly in equity, respectively.

2.3.13 Employee benefits

(a) Pension obligations

The Group pays contributions to defined contribution plans in Hong Kong and Taiwan. The schemes are generally funded through payments to separate trustee-administered funds, determined by periodic calculations.

A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity. The Group has no legal or constructive obligations to pay further contributions if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

The Group pays contributions to administered pension plans on a mandatory, contractual or voluntary basis. The Group has no further payment obligations once the contributions have been paid. The contributions are recognised as employee benefit expenses when they are due. Prepaid contributions are recognised as an asset to the extent that a cash refund or a reduction in the future payments is available.

2 會計政策概要（續）

2.3 其他會計政策概要（續）

2.3.12 當期及遞延所得稅（續）

(b) 遞延所得稅（續）

當期及遞延所得稅乃於損益內確認，惟倘 其涉及於其他全面收益內確認或直接於權 益內確認的項目，則作別論。在此情況 下，亦會分別於其他全面收益或直接於權 益確認稅項。

2.3.13 僱員福利

(a) 退休金責任

本集團向香港及台灣的定額供款計劃供 款。有關計劃資金一般來自對獨立受託管 理基金的付款，有關付款按定期進行的計 算釐定。

定額供款計劃為一項退休金計劃，本集團 根據該計劃向獨立實體進行固定供款。倘 該基金並無足夠資產支付所有僱員就於本 期間及過往期間提供的僱員服務所得的福 利，本集團並無作出進一步供款的法定或 推定責任。

本集團以強制性、合約性或自願性方式向 管理之退休金計劃供款。供款支付後，本 集團再無額外付款責任。供款到期時，則 確認為僱員福利開支。預付供款在確認可 作現金退款或削減未來供款時，方會予以 確認列為資產。

128

Perfect Optronics Limited Annual Report 2025

Notes to the Consolidated Financial Statements 綜合財務報表附註

2 SUMMARY OF ACCOUNTING POLICIES (Continued)

• 2.3 Summary of other accounting policies (Continued)

2.3.13 Employee benefits (Continued)

(a) Pension obligations (Continued)

The Group also contributes on a monthly basis to defined contribution retirement benefit plans organised by relevant municipal and provincial governments in the People’s Republic of China (the “PRC”). The municipal and provincial governments undertake to assume the retirement benefit obligations payable to all existing and future retired employees for post-retirement benefits beyond the contributions made. The assets of these plans are held separately from those of the Group in independently administered funds managed by the PRC government. Contributions to these plans are expensed as incurred.

(b) Bonus plans

The expected cost of bonus payments wholly due within 12 months after the balance sheet date are recognised as a liability where the Group has a present legal or constructive obligation as a result of services rendered by employees and a reliable estimate of the obligation can be made.

(c) Employee leave entitlements

Employee entitlements to annual leave are recognised when they accrue to employees. A provision is made for the estimated liability for annual leave as a result of services rendered by employees up to the statement of financial position date.

Employee entitlements to sick leave and maternity leave are not recognised until the time of leave.

2 會計政策概要（續）

2.3 其他會計政策概要（續）

2.3.13 僱員福利（續）

(a) 退休金責任（續）

本集團亦按月向中華人民共和國（「中國」） 相關省市級政府組織的定額供款退休福利 計劃供款。省市級政府承諾會承擔退休福 利義務，向現有及日後之全部退休僱員發 放超逾所作供款之退休後福利。該等計劃 之資產以獨立管理基金之形式與本集團之 資產分開持有，並由中國政府進行管理。 該等計劃之供款按產生額列為支出。

(b) 獎金計劃

當本集團因為僱員已提供的服務而產生現 有法律或推定責任，而責任金額能可靠估 計時，則在資產負債表日後12個月內全數 到期的獎金預計成本確認為負債。

(c) 僱員應享假期

僱員享有的年假於歸屬於僱員時確認。已 就僱員至財務狀況表日提供服務所享年假 的估計負債作出撥備。

僱員享有的病假及產假直至放假時確認。

129

圓美光電有限公司 2025 年報

Notes to the Consolidated Financial Statements 綜合財務報表附註

2 SUMMARY OF ACCOUNTING POLICIES (Continued)

• 2.3 Summary of other accounting policies (Continued)

2.3.13 Employee benefits (Continued)

(d) Long service payment

The Group’s net obligations in respect of long service payment to its employees on cessation of employment in certain circumstances under the Hong Kong Employment Ordinance is the amount of future benefits that the employees have earned in return for their services in the current and prior periods.

The obligation is calculated using the projected unit credit method, discounted to its present value and reduced by entitlements accrued under the Group’s retirement schemes that are attributed to contributions made by the Group. The discount rate is the yield at the end of each reporting period of Hong Kong Government Bonds, which are denominated in the currency in which the benefits will be paid, and that have terms to maturity approximating to the terms of the related obligations. The expected costs of these benefits are recognised in profit or loss over the period of employment. Actuarial gains and losses arising from experience adjustments and changes in actuarial assumptions are recognised in full in other comprehensive income in the year in which they occur. Changes in the present value of the defined benefit obligation resulting from plan amendments or curtailments are recognised in profit or loss as past service costs.

2 會計政策概要（續）

2.3 其他會計政策概要（續）

2.3.13 僱員福利（續）

(d) 長期服務金

根據《香港僱傭條例》的規定，在若干情況 下停止僱傭時，本集團向其僱員支付長期 服務金的債務淨額為僱員在當前及以往期 間提供服務而獲得的未來福利。

該債務採用預計單位信貸法計算，折現為 現值，並扣除本集團退休計劃下的應計權 利（歸因於本集團的供款）。貼現率為香港 政府債券於各報告期末的收益率，該等票 據及債券以支付福利的貨幣計值，到期期 限與相關義務的期限相近。該等福利的預 期成本在僱傭期間的損益中確認。因經驗 調整及精算假設變動而產生的精算損益在 發生當年的其他綜合收益中悉數確認。因 計劃修訂或縮減而導致的確定福利義務現 值變動在損益中確認為過往服務成本。

130

Perfect Optronics Limited Annual Report 2025

Notes to the Consolidated Financial Statements 綜合財務報表附註

2 SUMMARY OF ACCOUNTING POLICIES (Continued)

2.3 Summary of other accounting policies (Continued)

2.3.14 Provisions

Provisions are recognised when the Group has a present legal or constructive obligation as a result of past events; it is probable that an outflow of resources will be required to settle the obligation; and the amount can be reliably estimated. Provisions are not recognised for future operating losses.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to anyone item included in the same class of obligations may be small.

Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expenses.

2.3.15 Earnings per share

• (a) Basic earnings per share

Basic earnings per share is calculated by dividing:

• the profit attributable to equity holders of the Company, excluding any costs of servicing equity other than ordinary shares

• by the weighted average number of ordinary shares outstanding during the financial year, adjusted for bonus elements in ordinary shares issued during the year and excluding treasury shares.

2 會計政策概要（續）

2.3 其他會計政策概要（續）

2.3.14 撥備

當本集團因過往事件而須負上現時的法律 或推定責任，很可能需要消耗資源以履行 責任，及有關金額能可靠估計時，會確認 撥備。未來營運虧損不予確認撥備。

如有多項類似責任，於釐定其需流出資源 以結清責任的可能性時，會整體考慮該責 任類別。即使在同一責任類別所包含的任 何一個項目相關的資源流出的可能性極 低，仍須確認撥備。

撥備乃按預期需用作清償責任開支以稅前 比率計算的現值衡量，其反映當時市場對 金錢的時間值及該責任的特定風險評估。 因時間的流逝而增加的撥備確認為利息開 支。

2.3.15 每股盈利

• (a) 每股基本盈利

每股基本盈利乃按以下方式計算：

• 本公司權益持有人應佔利潤（不包括 普通股以外的任何服務權益成本）除 以

• 財政年度內已發行普通股加權平均 數（已就年內已發行普通股紅利因素 作出調整及撇除庫存股份）。

圓美光電有限公司 2025 年報 131

Notes to the Consolidated Financial Statements 綜合財務報表附註

2 SUMMARY OF ACCOUNTING POLICIES (Continued)

2.3 Summary of other accounting policies (Continued)

2.3.15 Earnings per share (Continued)

(b) Diluted earnings per share

Diluted earnings per share adjusts the figures used in the determination of basic earnings per share to take into account:

• the after-income tax effect of interest and other financing costs associated with dilutive potential ordinary shares, and

• the weighted average number of additional ordinary shares that would have been outstanding assuming the conversion of all dilutive potential ordinary shares.

2.3.16 Leases

The Group leases various properties. Rental contracts are typically made for fixed periods of 1 to 3 years. Lease terms are negotiated on an individual basis and contain various terms and conditions. The lease agreements do not impose any covenants, but leased assets may not be used as security for borrowing purposes.

Leases are recognised as right-of-use assets and the corresponding liabilities at the date at which the leased assets are available for use by the Group.

Assets and liabilities arising from a lease are initially measured on a present value basis. Lease liabilities include the net present value of the following lease payments:

• fixed payments (including in-substance fixed payments), less any lease incentives receivable

• variable lease payment that are based on an index or a rate, initially measured using the index or rate as at the commencement date

• amounts expected to be payable by the Group under residual value guarantees

2 會計政策概要（續）

2.3 其他會計政策概要（續）

2.3.15 每股盈利（續）

• (b) 每股攤薄盈利

每股攤薄盈利調整釐定每股基本盈利所用 的數字，經計及：

• 潛在攤薄普通股相關利息及其他融 資成本的除所得稅後影響；及

• 假設所有潛在攤薄普通股獲兌換而 已發行的額外普通股的加權平均數。

2.3.16 租賃

本集團租賃多項物業。租賃合約一般按1 至3年的固定期限訂立。租賃條款按個別 基準磋商並載有不同條款及條件。租賃協 議並無施加任何契約，惟租賃資產未必用 作借款用途的擔保。

租賃於租賃資產可供本集團使用當日確認 為使用權資產及相關負債。

租賃所產生的資產及負債初始按現值基準 計量。租賃負債包括以下租賃付款的淨現 值：

• 固定付款（包括實質固定付款）減任 何應收租賃優惠

• 基於指數或利率並於開始日期按指 數或利率初步計量的可變租賃付款

• 剩餘價值擔保下的本集團預期應付 款項

132

Perfect Optronics Limited Annual Report 2025

Notes to the Consolidated Financial Statements 綜合財務報表附註

2 SUMMARY OF ACCOUNTING POLICIES (Continued)

2.3 Summary of other accounting policies (Continued)

2.3.16 Leases (Continued)

• the exercise price of a purchase option if the Group is reasonably certain to exercise that option, and

• payments of penalties for terminating the lease, if the lease term reflects the Group exercising that option.

Lease payments to be made under reasonably certain extension options are also included in the measurement of the liability.

The lease payments are discounted using the interest rate implicit in the lease. If that rate cannot be readily determined, which is generally the case for leases in the Group, the lessee’s incremental borrowing rate is used, being the rate that the individual lessee would have to pay to borrow the funds necessary to obtain an asset of similar value to the right-of-use asset in a similar economic environment with similar terms, security and conditions.

To determine the incremental borrowing rate, the Group, where possible, uses recent third-party financing received by the individual lessee as a starting point, adjusted to reflect changes in financing conditions since third party financing was received.

Lease payments are allocated between principal and finance cost. The finance cost is charged to profit or loss over the lease period so as to produce a constant periodic rate of interest on the remaining balance of the liability for each period.

2 會計政策概要（續）

2.3 其他會計政策概要（續）

2.3.16 租賃（續）

• 購買選擇權的行使價（倘本集團合理 確定行使該選擇權）；及

• 支付終止租賃的罰款（倘租期反映本 集團行使權利終止租約）。

根據合理確定延長選擇權作出的租賃付款 亦計入負債的計量。

租賃付款採用租賃所隱含的利率予以貼 現。倘無法輕易釐定該利率（本集團的租 賃一般屬此類情況），則使用承租人增量 借款利率，即個別承租人在類似經濟環境 中按類似條款、抵押及條件借入獲得與使 用權資產價值類似的資產所需資金必須支 付的利率。

為釐定增量借款利率，本集團在可能情況 下，使用個別承租人最近獲得的第三方融 資為出發點作出調整，以反映自獲得第三 方融資以來融資條件的變動。

租賃付款於本金及財務成本之間作出分 配。財務成本在租賃期間於損益扣除，藉 以令各期間負債餘額的期間利率一致。

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圓美光電有限公司 2025 年報

Notes to the Consolidated Financial Statements 綜合財務報表附註

2 SUMMARY OF ACCOUNTING POLICIES (Continued)

2.3 Summary of other accounting policies (Continued)

2.3.16 Leases (Continued)

Right-of-use assets are measured at cost comprising the following:

• the amount of the initial measurement of lease liability

• any lease payments made at or before the commencement date less any lease incentives received

• any initial direct costs, and

• restoration costs.

Right-of-use assets are generally depreciated over the shorter of the asset’s useful life and the lease term on a straight-line basis. If the Group is reasonably certain to exercise a purchase option, the right-of-use asset is depreciated over the underlying asset’s useful life.

Payments associated with short-term leases and all leases of low-value assets are recognised on a straight-line basis over the lease term as an expense in profit or loss. Short-term leases are leases with a lease term of 12 months or less.

2.3.17 Government subsidies

Subsidies from the government are recognised at their fair value where there is a reasonable assurance that the subsidies will be received and the Group will comply with all attached conditions.

Government subsidies relating to costs are deferred and recognised in the profit or loss over the period necessary to match them with the costs that they are intended to compensate.

2.3.18 Interest income

Interest income is recognised on a time proportion basis using the effective interest method.

2 會計政策概要（續）

2.3 其他會計政策概要（續）

2.3.16 租賃（續）

使用權資產按成本計量，包括以下各項：

• 初始計量租賃負債的金額

• 在開始日期或之前作出的任何租賃 付款減任何已收租賃優惠

• 任何初始直接成本；及

• 復原成本。

使用權資產一般於資產的可使用年期及租 賃期（以較短者為準）內按直線法予以折 舊。倘本集團合理確定行使購買選擇權， 則使用權資產於相關資產的可使用年期內 予以折舊。

與短期租賃以及所有低價值資產租賃相關 的付款，於租期內按直線法於損益確認為 開支。短期租賃指租賃期為12個月或以下 的租賃。

2.3.17 政府補貼

倘有合理保證本集團將會自政府收到補 貼，且將符合所有附帶條件，該補貼會按 公允價值確認。

與成本相關的政府補貼會被遞延，並在與 其擬補償成本相配的所需期間內損益確 認。

2.3.18 利息收入

利息收入根據時間比例以實際利息法確 認。

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Perfect Optronics Limited Annual Report 2025

Notes to the Consolidated Financial Statements 綜合財務報表附註

3 FINANCIAL RISK MANAGEMENT

3.1 Financial risk factors

The Group’s activities expose it to a variety of financial risks: market risk (including foreign exchange risk, cash flow and fair value interest rate risk and price risk), credit risk and liquidity risk. The Group’s overall risk management programme focuses on the unpredictability of financial markets and seeks to minimise potential adverse effects on the Group’s financial performance. Risk management is carried out by the senior management of the Group.

(a) Market risk

(i) Foreign exchange risk

The Group is primarily exposed to foreign exchange risk arising from United States dollars (“USD”), Renminbi (“RMB”) and New Taiwan dollars (“TWD”).

Foreign exchange risk arises when future commercial transactions, recognised assets and liabilities are denominated in a currency that is not the entity’s functional currency. Management periodically reviews assets and liabilities held in currencies other than the entity’s functional currency to ensure that net exposure is kept at an acceptable level. The Group does not enter into any arrangement to hedge its foreign exchange rate risk.

The Group manages its foreign exchange risk by closely monitoring the movement of the foreign currency rates. In the opinion of the directors, HK$ are reasonably stable against the USD under the Linked Exchange Rate System, and accordingly, no sensitivity analysis with respect to the USD against HK$ is performed.

The directors of the Company are of the opinion that the impact on exchange differences for TWD and RMB are immaterial as at 31 December 2025 and 2024 due to the low volume of transactions and minimal amount of balances recognised in a currency that is not the entity’s functional currency, and accordingly no sensitivity analysis is performed.

3 財務風險管理

3.1 財務風險因素

本集團的業務承受各種財務風險：市場風 險（包括外匯風險、現金流量及公允價值 利率風險及價格風險）、信貸風險及流動 資金風險。本集團整體的風險管理計劃針 對難以預測的金融市場，並尋求儘量降低 對本集團財務業績所構成的潛在不利影 響。風險管理由本集團高層管理人員執 行。

(a) 市場風險

• (i) 外匯風險

本集團主要承受美元（「美元」）、人民幣 （「人民幣」）及新台幣（「新台幣」）的外匯風 險。

外匯風險來自並非以實體功能貨幣計值的 未來商業交易以及已確認資產及負債。管 理層定期審視並非以實體功能貨幣持有的 資產及負債，確保風險承擔保持於可接受 水平。本集團並無訂立任何安排對沖其外 匯風險。

本集團密切監外幣匯率變動，管理其外匯 風險。董事認為，在聯繫匯率制度下，港 元兌美元維持於合理穩定水平，據此，概 無就美元兌港元作出敏感度分析。

本公司董事認為由於交易量低及以非實體 功能貨幣確認之貨幣結餘極少，故於二零 二五年及二零二四年十二月三十一日，由 對新台幣及人民幣產生的匯率差異屬微不 足道，據此並無進行敏感度測試。

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圓美光電有限公司 2025 年報

Notes to the Consolidated Financial Statements 綜合財務報表附註

3 FINANCIAL RISK MANAGEMENT (Continued)

3.1 Financial risk factors (Continued)

(a) Market risk (Continued)

(ii) Cash flow and fair value interest rate risk

Interest rate risk relates to the risk that cash flows of a financial instrument will fluctuate because of changes in market interest rates. The Group’s interest rate risk arises from bank balances and bank loan. The directors of the Company are of the opinion that the interest rate risk arising from the bank balances and bank loans is immaterial as at 31 December 2025 and 2024, as prevailing interest rates are very low, and accordingly no sensitivity analysis has been performed.

(iii) Price risk

The Group’s exposure to price risk arises from investments held by the Group and classified in the consolidated statement of financial position either as FVOCI or at FVTPL.

At 31 December 2025, if the fair values of the investments classified as financial assets at FVTPL and FVOCI had been 10% higher/lower, with all other variables held constant, the Group’s pre-tax loss and other comprehensive loss would have been approximately HK$991,000 lower/higher (2024: HK$1,664,000 lower/higher) and approximately HK$14,000 lower/higher (2024: HK$137,000 other comprehensive income higher/lower) respectively.

3 財務風險管理（續）

3.1 財務風險因素（續）

(a) 市場風險（續）

(ii) 現金流量及公允價值利率風險

利率風險與金融工具的現金流量因市場利 率變動而出現波動的風險有關。本集團的 利率風險來自銀行結餘及銀行貸款。本公 司董事認為，由於現行利率水平非常偏 低，於二零二五年及二零二四年十二月 三十一日，源自銀行結餘及銀行貸款的利 率風險屬不重大，因此並無進行敏感度分 析。

(iii) 價格風險

本集團承擔的價格風險，乃源於本集團持 有投資於綜合財務狀況表中分類為以按公 允價值計入其他全面收益或按公允價值計 入損益。

於二零二五年十二月三十一日，倘分類為 按公允價值計入損益及按公允價值計入其 他全面收益的金融資產之投資的公允價值 上升╱下降10% ，而所有其他變數維持不 變，本集團之除稅前虧損及其他全面虧損 將分別減少╱增加約991,000港元（二零 二四年：減少╱增加1,664,000港元）及減 少╱增加約14,000港元（二零二四年：其 他全面收益增加╱減少137,000港元）。

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Notes to the Consolidated Financial Statements 綜合財務報表附註

3 FINANCIAL RISK MANAGEMENT (Continued)

3.1 Financial risk factors (Continued)

(b) Credit risk

Credit risk is managed on a group basis. Credit risk arises from trade and other receivables and bank balances. The carrying amounts of these balances represent the Group’s maximum exposure to credit risk in relation to financial assets. The credit risk is monitored on an ongoing basis with reference to the financial position of the debtors, past experience and other factors.

The Group has policies in place to ensure that the sales of products are made to customers with appropriate credit histories and the Group performs regular credit evaluations of its major customers.

The Group applies the lifetime expected loss provision, as permitted under HKFRS 9 Financial Instruments, for all trade receivables.

The Group considers the credit risk characteristics of the trade receivables to measure the expected credit loss (“ECL”). For the trade receivables, the Group has assessed the ECL by considering historical default rates, existing market conditions and forward-looking information. Based on the Group’s assessment, the loss allowance provision for these trade receivables balances was not material.

The Group’s bank deposits and bank balances are deposited in reputable banks. Management does not expect any losses from non-performance by these banks.

3 財務風險管理（續）

3.1 財務風險因素（續）

(b) 信貸風險

信貸風險按集團基準管理。信貸風險源自 分類為應收賬款及其他應收款以及銀行結 餘。該等結餘的賬面值為本集團就有關金 融資產承擔的最大信貸風險。信貸風險按 持續基準監察，並會參考債務人的財政狀 況、過往經驗及其他因素。

本集團實施相關政策，確保其產品銷售乃 向具有合適信貸紀錄的客戶作出，本集團 亦會對其主要客戶進行定期信貸評估。

本集團根據香港財務報告準則第9號財務 工具、的規定，對全部應收賬款應用全期 預期虧損撥備。

本集團考慮應收賬款的信貸風險特徵以計 量預期信貸虧損（「預期信貸虧損」）。就應 收賬款而言，本集團考慮過往違約比率、 現行市況及前贍性資料來評估預期信貸虧 損。根據本集團的評估，該等應收賬款結 餘的虧損損備並不重大。

本集團銀行存款及銀行結餘均存於具信譽 的銀行。管理層預期不會因此等銀行不履 行付款責任而產生任何虧損。

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圓美光電有限公司 2025 年報

Notes to the Consolidated Financial Statements 綜合財務報表附註

3 FINANCIAL RISK MANAGEMENT (Continued)

• 3.1 Financial risk factors (Continued)

• (b) Credit risk (Continued)

Other financial assets at amortised cost

The Group’s other financial assets carried at amortised cost include deposits and other receivables in the consolidated statement of financial position. The impairment loss of other financial assets carried at amortised cost is measured based on the 12-month expected credit loss. The 12-month expected credit loss is the portion of lifetime expected credit loss that results from default events on a financial instrument that are possible within 12 months after the reporting date. However, when there has been a significant increase in credit risk since origination, the allowance will be based on the lifetime expected credit loss.

To assess whether there is a significant increase in credit risk the Group compares the risk of a default occurring on the asset as at the reporting date with the risk of default as at the date of initial recognition. It considers available reasonable and supportive forwarding-looking information. Especially the following indicators are incorporated:

• external credit rating (as far as available);

• actual or expected significant adverse changes in business, financial or economic conditions that are expected to cause a significant change to the borrower’s ability to meet its obligations;

• actual or expected significant changes in the operating results of the borrower; and

• significant changes in the expected performance and behaviour of the borrower, including changes in the payment status of borrowers in the group and changes in the operating results of the borrower.

As at 31 December 2025 and 2024, management considered the credit risk of deposits and other receivables to be low as counterparties have a strong capacity to meet their contractual cash flow obligations in the near term. The Group has assessed that the expected credit losses for these other receivables were immaterial under 12-month expected losses method. Therefore, no provision was recognised.

3 財務風險管理（續）

3.1 財務風險因素（續）

• (b) 信貸風險（續）

以攤銷成本計量的其他金融資產

本集團按攤銷成本列賬的其他金融資產包 括綜合財務狀況表內的按金及其他應收款 項。按攤銷成本列賬的其他金融資產的減 值虧損按12個月預期信貸虧損計量。12個 月預期信貸虧損為報告日期後12個月內可 能發生的金融工具違約事件導致的全期預 期信貸虧損的一部分。然而，自發生以來 信貸風險顯著增加時，撥備將以全期預期 信貸虧損計算。

為評估信貸風險是否大幅增長，本集團將 於報告日期該資產發生違約的風險與初步 確認日期的違約風險進行比較。其考慮彼 時可得的合理及支持性的前瞻性資料，特 別包括以下指標：

— 外部信貸評級（如可得）;

• 業務、財務或經濟狀況的實際或預期 重大不利變動，預期將對借款人履 行義務的能力產生重大變動；

• 借款人經營業績的實際或預期重大變 動；及

• 預期借款人表現及行為的重大變動， 包括借款人於集團內付款狀況的變 動及借款人經營業績的變動。

於二零二五年及二零二四年十二月三十一 日，管理層認為按金及其他應收款項的信 貸風險為低，原因為對方有強大能力於短 期內履行其合同現金流量責任。本集團已 根據12個月預期虧損法評估該等其他應收 款項的預期信貸虧損並不重大。因此，並 無確認撥備。

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Notes to the Consolidated Financial Statements 綜合財務報表附註

3 FINANCIAL RISK MANAGEMENT (Continued)

3 財務風險管理（續）

3.1 Financial risk factors (Continued)

3.1 財務風險因素（續）

(c) Liquidity risk

(c) 流動資金風險

Prudent liquidity risk management includes maintaining sufficient cash and marketable securities, and the ability to settle the payables of the Group.

審慎的流動資金風險管理包括確保持有足 夠現金及有價證券，及有能力償還本集團 的應付款。

The table below analyses the Group’s financial liabilities into relevant maturity groupings based on the remaining period at the date of the statement of financial position to the contractual maturity date. The amounts disclosed in the table are the contractual undiscounted cash flows.

下表列示本集團的金融負債根據由財務狀 況表日至合約到期日的剩餘期間按照相關 到期組別進行的分析。在表內披露的金額 為合約未貼現的現金流量。

Less than 1 year 1年以內 HK$’000 千港元	Between 1 and 2 years 1至2年 HK$’000 千港元	Between 2 and 5 years 2至5年 HK$’000 千港元	Over 5 years 5年以上 HK$’000 千港元	Total 總計 HK$’000 千港元
At 31 December 2025 於二零二五年 十二月三十一日 Trade payables 應付賬款 125 Other payables 其他應付款 4,945 Bank loan 銀行貸款 843 Lease liabilities 租賃負債 16
	—	—	—	125
	—	—	—	4,945
	848	1,542	—	3,233
	—	—	—	16
5,929
	848	1,542	—	8,319
At 31 December 2024 於二零二四年 十二月三十一日 Trade payables 應付賬款 101 Other payables 其他應付款 4,770 Bank loan 銀行貸款 848 Lease liabilities 租賃負債 878
	—	—	—	101
	—	—	—	4,770
	848	2,402	—	4,098
	17	—	—	895
6,597
	865	2,402	—	9,864

圓美光電有限公司 2025 年報 139

Notes to the Consolidated Financial Statements 綜合財務報表附註

3 FINANCIAL RISK MANAGEMENT (Continued)

3.2 Capital management

The Group’s objectives when managing capital are to safeguard the Group’s ability to continue as a going concern in order to provide returns for shareholders and benefits for other stakeholders and to maintain an optimal capital structure to reduce the cost of capital.

The Group monitors capital on the basis of the debt-to-asset ratio. The ratio is calculated as total debt divided by total assets. Total debt is calculated as interest-bearing borrowings. In order to maintain or adjust the capital structure, the Group may adjust the amount of dividends paid to shareholders, return capital to shareholders, issue new shares and sell assets to reduce debt.

During the year, the Group’s strategy, which remained unchanged from prior year, was to maintain a net cash position. As at 31 December 2025, the Group has a net cash position and the aggregate balances of cash and cash equivalents exceeded the bank loan by HK$15,178,000 (2024: HK$20,598,000).

3 財務風險管理（續）

3.2 資本管理

本集團管理資金的目標是保障本集團持續 經營的能力，以為股東帶來回報，同時兼 顧其他利益相關者的利益，並維持最佳的 資本結構以減低資金成本。

本集團根據負債資產比率監察資本。該比 率按負債總額除以資產總額計算。負債總 額按計息借貸計算。為了維持或調整資本 結構，本集團可能會調整支付予股東的股 息金額、向股東發還資金、發行新股或出 售資產以減低債務。

年內，本集團的策略（與去年相比並無變 動）為保持現金淨額狀況。於二零二五年 十二月三十一日，本集團錄得現金淨額狀 況，且現金及現金等價物的結餘總額較銀 行貸款多出15,178,000港元（二零二四 年：20,598,000港元）。

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Notes to the Consolidated Financial Statements 綜合財務報表附註

3 FINANCIAL RISK MANAGEMENT (Continued)

3.3 Fair value estimation

Financial instruments carried at fair value are analysed by valuation method. The different levels have been defined as follows:

• Quoted prices (unadjusted) in active markets for identical assets or liabilities (level 1).

• Inputs other than quoted prices included within level 1 that are observable for the assets or liabilities, either directly (that is, as prices) or indirectly (that is, derived from prices) (level 2).

• Inputs for the assets or liabilities that are not based on observable market data (that is, unobservable inputs) (level 3).

The carrying amounts of the Group’s financial assets, including cash and cash equivalents and trade and other receivables; and the Group’s financial liabilities, including bank loan, trade and other payables approximate their fair values due to their short maturities.

The nominal values less any estimated credit adjustments for financial assets and liabilities with a maturity of less than one year are assumed to approximate their fair values.

3 財務風險管理（續）

3.3 公允價值估計

按公允價值入賬的金融工具按估值方法分 析。不同層級界定如下：

• 相同資產或負債在活躍市場的報價

• （未經調整）（第1層）。

• 除了第1層所包括的報價外，該資產 和負債的可觀察的其他輸入，可為 直接（即例如價格）或間接（即源自價 格）（第2層）。

• 資產和負債並非依據可觀察市場數 據的輸入（即非可觀察輸入）（第3 層）。

本集團金融資產之公允價值，包括現金及 現金等價物、應收賬款及其他應收款；以 及本集團之金融負債，包括銀行貸款、應 付賬款及其他應付款，由於其到期時間較 短，其賬面值與公允價值相若。

就到期日少於一年之金融資產及負債而 言，面值減任何估計信貸調整乃假設與其 公允價值相若。

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圓美光電有限公司 2025 年報

Notes to the Consolidated Financial Statements 綜合財務報表附註

3 FINANCIAL RISK MANAGEMENT (Continued)

3 財務風險管理（續）

3.3 Fair value estimation (Continued)

3.3 公允價值估計（續）

The following table presents the carrying value of financial instruments measured at fair value at the consolidated statement of financial position across the three levels.

下表列報三個級別於綜合財務狀況表按公 允價值計量之金融工具賬面值。

Fair value measurement as at 31 December 2025 於二零二五年十二月三十一日之公允價值計量 Level 1 Level 2 Level 3 Total 第1層 第2層 第3層 總計 HK$’000 HK$’000 HK$’000 HK$’000 千港元 千港元 千港元 千港元	Fair value measurement as at 31 December 2025 於二零二五年十二月三十一日之公允價值計量 Level 1 Level 2 Level 3 Total 第1層 第2層 第3層 總計 HK$’000 HK$’000 HK$’000 HK$’000 千港元 千港元 千港元 千港元	Fair value measurement as at 31 December 2025 於二零二五年十二月三十一日之公允價值計量 Level 1 Level 2 Level 3 Total 第1層 第2層 第3層 總計 HK$’000 HK$’000 HK$’000 HK$’000 千港元 千港元 千港元 千港元	Fair value measurement as at 31 December 2025 於二零二五年十二月三十一日之公允價值計量 Level 1 Level 2 Level 3 Total 第1層 第2層 第3層 總計 HK$’000 HK$’000 HK$’000 HK$’000 千港元 千港元 千港元 千港元
	Level 2	Level 3	Total
	第2層	第3層	總計
	HK$’000	HK$’000	HK$’000
	千港元	千港元	千港元
Recurring fair value measurements 經常性公允價值計量 Financial asset at FVTPL 按公允價值計入損益之 金融資產 — Listed equity securities —上市股權證券 9,911 Financial asset at FVOCI 按公允價值計入其他全面 收益之金融資產 — Unlisted equity securities —非上市股權證券 —
	—	—	9,911
	—	135	135
9,911
	—	135	10,046
Fair value measurement as at 31 December 2024 於二零二四年十二月三十一日之公允價值計量 Level 1 Level 2 Level 3 Total 第1層 第2層 第3層 總計 HK$’000 HK$’000 HK$’000 HK$’000 千港元 千港元 千港元 千港元
Recurring fair value measurements 經常性公允價值計量 Financial asset at FVTPL 按公允價值計入損益之 金融資產 — Listed equity securities —上市股權證券 16,641 — — 16,641 Financial asset at FVOCI 按公允價值計入其他全面 收益之金融資產 — Unlisted equity securities —非上市股權證券 — — 1,368 1,368
16,641 — 1,368 18,009

The Group’s policy is to recognise transfers into and 本集團的政策是於報告期末確認公允價值 transfers out of fair value hierarchy levels as at the 層級之轉入及轉出。 end of the reporting period.

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Notes to the Consolidated Financial Statements 綜合財務報表附註

3 FINANCIAL RISK MANAGEMENT (Continued)

3 財務風險管理（續）

3.3 Fair value estimation (Continued)

3.3 公允價值估計（續）

The Group further assessed the need for transfers between levels in the hierarchy given the changes in economic conditions and considering whether a lack of observable information existed for factors relevant to the value of certain instruments. There were no transfers between levels 1, 2 and 3 during the year ended 31 December 2025.

鑒於經濟情形變動，並考慮到若干工具的 價值相關因素是否缺乏可觀察資料，本集 團進一步評估在等級體系中進行層級轉撥 的必要性。截至二零二五年十二月三十一 日止年度，第1層、第2層與第3層之間並無 轉撥。

Fair value measurements using significant unobservable inputs (level 3)

使用重大不可觀察輸入數據的公允價值計 量（第 3 層）

The following table presents the changes in level 3 instruments for the years ended 31 December 2025 and 2024:

下表呈報截至二零二五年及二零二四年 十二月三十一日止年度第3層工具之變動：

Unlisted preferred shares 非上市 優先股 HK$’000 千港元	Unlisted equity securities 非上市 股權證券 HK$’000 千港元	Total 總計 HK$’000 千港元
Balance at 1 January 2024 於二零二四年 一月一日之結餘 35,848 Fair value changes recognised in other comprehensive income 於其他全面收益 確認之公允價值 變動 — Fair value changes recognised in other (losses)/gains, net 於其他（虧損）╱ 收益淨額確認之 公允價值變動 15,082 Transfer to level 1(Note) 轉移至第1層（附註） (50,930)
	1,500	37,348
	(132)	(132)
	—	15,082
	—	(50,930)
Balance at 31 December 2024 and 1 January 2025 於二零二四年 十二月三十一日 及二零二五年 一月一日之結餘 — Fair value changes recognised in other comprehensive income 於其他全面收益 確認之公允價值 變動 —
	1,368	1,368
	(1,233)	(1,233)
Balance at 31 December 2025 於二零二五年 十二月三十一日 之結餘 —
	135	135

Note: The unlisted preferred shares were listed in April 2024 and 附註：該非上市優先股已於二零二四年四月上市，而 the fair value of such investment can be determined by 該投資的公允價值可以以報價釐定，因此其已 using quoted prices, it was therefore reclassified from level 由第3層重分類至第1層。 3 to level 1.

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Notes to the Consolidated Financial Statements 綜合財務報表附註

3 FINANCIAL RISK MANAGEMENT (Continued)

3 財務風險管理（續）

3.3 Fair value estimation (Continued)

3.3 公允價值估計（續）

Fair value measurements using significant unobservable inputs (level 3) (Continued)

使用重大不可觀察輸入數據的公允價值計 量（第 3 層）（續）

The following table summarises the valuation techniques used and the quantitative information about the significant unobservable inputs used in level 3 fair value measurements:

下表概述於第3層公允價值計量所用估值 技巧及所用重大不可觀察輸入數據的定量 資料：

									Relationship of
				Significant					unobservable inputs
	Description	Valuation technique		unobservable			inputs		to fair value
									不可觀察輸入數據與
	說明	估值技術		重大不可觀察輸入數據					公允價值的關係
	Ordinary shares issued	Discounted cash flow		Weighted				15.72%	10% increase/(decrease) in
	by a private entity		method (2024:		average			(2024:	WACC would result in
			same)		cost of			17.26%)	(decrease)/increase in fair
					capital				value by approximately
					(“WACC”)				(HK$82,500)/HK$95,000
									(2024: (HK$216,000)/
									HK$240,000)
	一間私營企業發行之普	貼現現金流方法		加權平均資				15.72%	加權平均資本成本增加╱
	通股		（二零二四年：相同）		本成本	（二零二四年：			（減少）10%，將令公允價
					（「加權			17.26%）	值（減少）╱增加約
					平均資本				（82,500港元）╱
					成本」）				95,000港元（二零二四年：
									（216,000港元）╱
									240,000港元）

Valuation of the above financial asset held by the Group as at the end of the reporting period was performed by independent valuer.

本集團於報告期末所持的以上金融資產的 估值由獨立估值師進行。

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Notes to the Consolidated Financial Statements 綜合財務報表附註

4 CRITICAL ESTIMATES AND JUDGEMENTS

The preparation of financial statements requires the use of accounting estimates which, by definition, will seldom equal the actual results. Management also needs to exercise judgement in applying the Group’s accounting policies.

Estimates and judgements are continually evaluated. They are based on historical experience and other factors, including expectations of future events that may have a financial impact on the entity and that are believed to be reasonable under the circumstances.

4.1 Critical accounting estimates

(a) Net realisable value of inventories

Net realisable value is the estimated selling price in the ordinary course of business less the estimated costs of completion and the estimated costs necessary to make the sale. These estimates are based on the current market condition and the historical experience of selling products of similar nature. It could change significantly as a result of changes in consumer preferences and competitor actions in response to severe industry cycles. Management reassesses these estimations by each date of the statement of financial position to ensure inventories are shown at the lower of cost and net realisable value.

4 關鍵估計及判斷

編製財務報表須進行會計估計，顧名思 義，有關估計很少相等於實際結果。管理 層亦需在應用本集團的會計政策時作出判 斷。

估計及判斷乃持續評估。有關估計及判斷 乃基於過往經驗及其他因素作出，包括可 能對實體產生財務影響及根據情況認為合 理的未來事件預期。

4.1 關鍵會計估計

(a) 存貨的可變現淨值

可變現淨值指於日常業務過程中的估計售 價減估計完成成本及進行銷售所需的估計 成本。該等估計乃根據銷售類似產品的目 前市況及過往經驗作出，其可能因消費者 喜好變化及競爭對手應對嚴峻行業週期的 行動而出現大幅變動。管理層會於每個財 務狀況表日重新評估此等估計，以確保存 貨以成本與可變現淨值兩者之間的較低者 列示。

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Notes to the Consolidated Financial Statements 綜合財務報表附註

5 SEGMENT INFORMATION

5 分部資料

Information reported to board of directors of the Company, being the chief operating decision-maker, for the purposes of resource allocation and assessment focuses on the revenue analysis by products.

向本公司董事會（即首席經營決策者）呈報 以進行資源分配及評估的資料聚焦於按產 品劃分的收入分析。

Other than the Group’s results and financial position 除了本集團的整體業績及財務狀況外，並 as a whole, no other discrete financial information is 無提供其他獨立財務資料用作評估各項不 provided for the assessment of different business 同業務活動。因此，僅呈列實體整體披 activities. Accordingly, only entity-wide disclosures, 露、主要客戶及地理資料。 major customers and geographic information are presented.

(a) The Group’s revenues from its major products for the (a) 截至二零二五年及二零二四年十二月 years ended 31 December 2025 and 2024 are as 三十一日止年度，本集團來自其主要產品 follows: 之收入載列如下：

三十一日止年度，本集 之收入載列如下： years ended 31 December 2025 and 2024 are as follows:	團來自其主要產品
2025 二零二五年 HK$’000 千港元	2024 二零二四年 HK$’000 千港元
Thin film transistor liquid crystal display panels and modules 薄膜電晶體液晶體顯示面 板及模組 82,493 Health-related products 健康相關產品 12,952 Electronic signage 電子廣告板 6,439 Optics products 光學產品 115 Others 其他 2,164	40,161 12,799 12,997 25,594 1,054
104,163	92,605

(b) Segment revenue by customers’ geographical (b) 按客戶地理位置劃分的分部收入 location

The amount of the Group’s revenue from external 本集團按其向客戶交付產品的地點劃分的 customers by locations where the Group’s products 外部客戶所產生收入金額於下表列示。 are delivered to its customers is shown in the table below.

外部客戶所產生收入 customers by locations where the Group’s products are delivered to its customers is shown in the table below.	金額於下表列示。
2025 二零二五年 HK$’000 千港元	2024 二零二四年 HK$’000 千港元
Hong Kong 香港 100,259 Taiwan 台灣 3,001 Mainland China 中國大陸 903	83,607 3,747 5,251
104,163	92,605

146

Perfect Optronics Limited Annual Report 2025

Notes to the Consolidated Financial Statements 綜合財務報表附註

5 SEGMENT INFORMATION (Continued) 5 分部資料（續）

• (c) Revenues from major customers who have individually (c) 截至二零二五年及二零二四年十二月 contributed 10% or more of the total revenue for the 三十一日止年度，來自主要客戶（各自佔 years ended 31 December 2025 and 2024 are 總收入10%或以上）的收入披露如下： disclosed as follow:

總收入10%或以上）的 years ended 31 December 2025 and 2024 are disclosed as follow:	收入披露如下：
2025 二零二五年 HK$’000 千港元	2024 二零二四年 HK$’000 千港元
Customer A 客戶A 42,877 Customer B 客戶B 29,467 Customer C 客戶C —	— 2,071 24,610

(d) An analysis of the Group’s non-current assets (other	(d) An analysis of the Group’s non-current assets (other	(d) An analysis of the Group’s non-current assets (other	(d)	按資產位置，本集團之非流動資產（不包	按資產位置，本集團之非流動資產（不包	按資產位置，本集團之非流動資產（不包
than financial and deferred income tax assets) by				括金融及遞延所得稅資產）分析如下：
location of assets is as	follows:
				Mainland
		Hong	Kong	China	Taiwan	Total
			香港	中國大陸	台灣	總計
		HK$’000		HK$’000	HK$’000	HK$’000
		千港元		千港元	千港元	千港元
As at 31 December 2025	於二零二五年
	十二月三十一日
Non-current assets	非流動資產
Property, plant and	物業、廠房及設備
equipment			415	8	52	475
Intangible assets	無形資產		4,200	1,122	—	5,322
			4,615	1,130	52	5,797
As at 31 December 2024	於二零二四年
	十二月三十一日
Non-current assets	非流動資產
Property, plant and	物業、廠房及設備
equipment			539	4	145	688
Intangible assets	無形資產		4,200	1,122	—	5,322
			4,739	1,126	145	6,010

6 REVENUE 6 收入

Revenue represents the sales of display products, optics products and related electronic components, health-related products and other products to external parties.

收入指銷售顯示產品、光學產品及相關電 子部件、健康相關產品和其他產品予外界 人士所得收入。

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Notes to the Consolidated Financial Statements 綜合財務報表附註

7 OTHER GAINS/(LOSSES), NET 7 其他收益╱（虧損）淨額

	7 OTHER GAINS/(LOSSES),	7 其 NET	他收益╱（虧損	）淨額
			2025	2024
			二零二五年	二零二四年
			HK$’000	HK$’000
			千港元	千港元
	Fair value changes in financial asset at	按公允價值計入損益之金融
	FVTPL (Note)	資產公允價值變動（附註） 189		(19,207)
	Government subsidies	政府補貼	309	684
	Net exchange gains/(losses)	匯兌收益╱（虧損）淨額	178	(257)
	Gain on disposal of property, plant and	出售物業、廠房及設備
	equipment	收益	90	—
	Others	其他	115	(38)
			881	(18,818)

Note: During the year ended 31 December 2025, the Group disposed of 7,515,000 Mobvoi Shares (the “Disposed Shares”) through the open market for aggregate cash consideration of HK$6,919,000 (the “Disposals”). Based on the carrying amount of the Disposed Shares as at 31 December 2024 and the net proceeds from the Disposals after deducting broker’s commission, stamp duty and various levies of HK$12,000, the Disposed Shares contributed a net gain of HK$1,947,000 for the year. This gain was partly offset by a fair value loss of HK$1,770,000 on the remaining Mobvoi Shares held by the Group as at 31 December 2025.

附註： 截至二零二五年十二月三十一日止年度，本集 團透過公開市場出售7,515,000股出門問問股 份（「已出售股份」），取得合共6,919,000港元現 金代價（「該等出售」）。根據已出售股份於二零 二四年十二月三十一日的賬面金額及扣除經 紀佣金、印花稅及各項徵費12,000港元後，該 等已出售股份為本年度貢獻淨收益1,947,000 港元。該收益部分被本集團於二零二五年十二 月三十一日持有之餘下出門問問股份之公允 價值虧損1,770,000港元所抵銷。

8 EXPENSES BY NATURE

Cost of sales, distribution and selling expenses, general and administrative expenses and research and development expenses are analysed as follows:

8 按性質劃分的費用

銷售成本、分銷及銷售開支、一般及行政 開支及研究及開發開支分析如下：

開支及研究及開發開 general and administrative expenses and research and development expenses are analysed as follows:	支分析如下：
2025 二零二五年 HK$’000 千港元	2024 二零二四年 HK$’000 千港元
Cost of inventories sold (Note 20) 銷售存貨成本（附註20） 85,482 Processing and sub-contracting expenses 加工及外包費用 100 Transportation expenses 運輸費用 666 Provision/(Reversal of provision) for obsolete inventories (Note 20) 陳舊存貨撥備╱（撥備回撥） （附註20） 401 Auditor’s remuneration 核數師酬金 — Audit services —審計服務 875 — Non-audit services —非審計服務 98 Employee benefit expenses (Note 9) 僱員福利開支（附註9） 20,697 Depreciation of property, plant and equipment (Note 14) 物業、廠房及設備折舊 （附註14） 227 Depreciation of right-of-use assets (Note 15) 使用權資產折舊（附註15） — Lease expenses not included in the measurement of lease liabilities (Note 15) 並非計入租賃負債計量之 租賃開支（附註15） 3,061 Provision for impairment of right-of-use assets(Note 15) 使用權資產減值撥備 （附註15） —	79,778 149 697 (122) 875 236 22,595 151 122 2,512 387

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Notes to the Consolidated Financial Statements 綜合財務報表附註

9 EMPLOYEE BENEFIT EXPENSES

9 僱員福利開支

	9 EMPLOYEE BENEFIT EXP		9 僱 ENSES	員福利開支
				2025	2024
				二零二五年	二零二四年
				HK$’000	HK$’000
				千港元	千港元
	Short-term employee benefits (Note (a))	短期僱員福利（附註(a)）		19,868	21,645
	Post-employment benefits	僱員退休福利
	— defined contribution plans		—定額供款計劃
	(Note(b))		（附註(b)）	829	950
	Total employee benefit expenses,	僱員福利開支總額，包括董
	includingdirectors’ remuneration		事酬金	20,697	22,595

Notes:

• (a) Short-term employee benefits include salary, wages, bonus paid to employees, and insurance premium for staff insurance schemes.

• (b) Post-employment benefits — defined contribution plans

During the year ended 31 December 2025, no forfeited contributions were utilised by the Group to reduce its contributions for the current year (2024: Nil), there is no forfeited contributions available at the year-end to reduce future contributions.

• (c) Five highest paid individuals

The five individuals whose remuneration were the highest in the Group for the year include four directors (2024: four) whose remuneration are reflected in the analysis shown in Note 34. The emoluments payable to the remaining one (2024: one) individual during the year are as follows:

附註：

• (a) 短期僱員福利包括支付予僱員薪金、工資、獎 金及員工保險計劃的保費。

(b) 僱員退休福利 — 定額供款計劃 截至二零二五年十二月三十一日止年度，本集 團概無動用被沒收的供款以削減本年度的供 款（二零二四年：無），年末並無被沒收的供款 可用於削減未來供款。

• (c) 五名最高薪人士

年內本集團五名最高薪酬人士包括四名董事 （二零二四年：四名），其薪酬反映於附註34所 載的分析當中。年內應付餘下一名（二零二四 年：一名）人士之酬金如下：

				2025	2024
				二零二五年	二零二四年
				HK$’000	HK$’000
				千港元	千港元
	Basic salaries, other allowances and benefits in kind	基本工資、其他津貼及實物福利		1,644	1,644
	Contribution to pension scheme	退休計劃供款		18	18
				1,662	1,662

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Notes to the Consolidated Financial Statements 綜合財務報表附註

9 僱員福利開支（續）

9 EMPLOYEE BENEFIT EXPENSES (Continued)

附註：（續）

Notes: (Continued)

附註：（續） Notes: (Continued)	附註：（續） Notes: (Continued)
(c) 五名最高薪人士（續） 本年度薪酬介乎以下範圍的非董事最高薪酬 人士的人數如下： (c) Five highest paid individuals (Continued) The number of highest paid non-director individuals whose remunerations for the year fell within the following bands: 2025 2024 二零二五年 二零二四年
Emolument bands: 酬金範圍： HK$1,500,001 to HK$2,000,000 1,500,001港元至2,000,000港元 1	1
截至二零二五年十二月三十一日止年度，本集 團未向董事或五名最高薪酬人士支付任何薪 酬，作為其加入本集團的獎勵或離職賠償，亦 無任何董事或五名最高薪酬人士放棄或同意 放棄薪酬的安排（二零二四年：無）。 (d) 本公司有一購股權計劃（「二零一四年購股權 計劃」）透過本公司當時唯一股東於二零一四 年一月二十日通過的書面決議案而獲通過及 採納。二零一四年購股權計劃於二零二四年一 月十九日期滿，而另一新的購股權計劃（「二零 二四年購股權計劃」）已於二零二四年六月十八 日舉行的本公司股東週年大會上獲通過及採 納。自二零一四年購股權計劃及二零二四年購 股權計劃採納日期起，概無已根據該等購股權 計劃授出的購股權。因此，於截至二零二五年 十二月三十一日及二零二四年十二月三十一 日止年度並無確認以股份支付的費用。 For the year ended 31 December 2025, no remuneration (2024: Nil) was paid by the Group to the directors or the five highest paid individuals as an inducement to join or upon joining the Group or as compensation for loss of office, and no arrangement under which a director or the five highest paid individuals waived or agreed to waive any of the remuneration. (d) The Company had a share option scheme (the “2014 Share Option Scheme”) which was approved and adopted by the then sole shareholder of the Company by way of written resolutions passed on 20 January 2014. The 2014 Share Option Scheme expired on 19 January 2024 and a new share option scheme of the Company (the “2024 Share Option Scheme”) was approved and adopted at the annual general meeting of the Company held on 18 June 2024. No share option has been granted under the 2014 Share Option Scheme and the 2024 Share Option Scheme since their adoptions. Accordingly, no share-based payment expense was recognised for the years ended 31 December

• (d) The Company had a share option scheme (the “2014 Share Option Scheme”) which was approved and adopted by the then sole shareholder of the Company by way of written resolutions passed on 20 January 2014. The 2014 Share Option Scheme expired on 19 January 2024 and a new share option scheme of the Company (the “2024 Share Option Scheme”) was approved and adopted at the annual general meeting of the Company held on 18 June 2024. No share option has been granted under the 2014 Share Option Scheme and the 2024 Share Option Scheme since their adoptions. Accordingly, no share-based payment expense was recognised for the years ended 31 December 2025 and 31 December 2024.

10 FINANCE COSTS, NET

10 財務費用淨額

10財務費用淨額 10 FINANCE COSTS, NET
2025 二零二五年 HK$’000 千港元	2024 二零二四年 HK$’000 千港元
Finance income 財務收入 Interest income on bank deposits 銀行存款之利息收入 27	104
Finance costs 財務費用 Interest expenses on: 以下各項之利息開支： Bank loan 銀行貸款 (103) Lease liabilities(Note 15) 租賃負債（附註15） (10)	(150) (79)
(113)	(229)
Finance costs, net 財務費用淨額 (86)	(125)

150

Perfect Optronics Limited Annual Report 2025

Notes to the Consolidated Financial Statements 綜合財務報表附註

11 INCOME TAX EXPENSE

11 所得稅開支

Taxation on profits has been calculated on the estimated assessable profits for the year at the applicable rates of taxation prevailing in the countries/places in which the Group operates, based on existing legislation, interpretations and practices in respect thereof.

年內利潤之稅項已按估計應評稅利潤以本 集團營運所在的國家╱地區現行適用的稅 率，基於現有稅務法例、詮釋及慣例來計 算。

The amount of income tax charged to profit or loss represents:

於損益扣除的所得稅金額指︰

2025 二零二五年 HK$’000 千港元	2024 二零二四年 HK$’000 千港元
Current income tax 當期所得稅 — Ov er-provision of prior year’s Hong Kong profits tax —以 前年度多提 香港利得稅 — Deferred income tax(Note 26) 遞延所得稅（附註26） 19	(37) 72
Income tax expense 所得稅開支 19	35
本集團就除所得稅前虧損的所得稅與使用 本集團適用的稅率產生的理論金額有所差 異，具體如下： The income tax on the Group’s loss before income tax differs from the theoretical amount that would arise using the tax rate applicable to the Group as follows:

2025 二零二五年 HK$’000 千港元	2024 二零二四年 HK$’000 千港元
Loss before income tax 除所得稅前虧損 (13,314) Tax calculated at Hong Kong tax rate of 16.5% (2024: 16.5%) 按香港稅率16.5%計算的稅 項（二零二四年：16.5%） (2,197) Tax effects of: 以下各項的稅務影響： — Different taxation rate in other jurisdictions —其他司法管轄區不同 稅率 (45) — Income not subject to tax —毋須繳稅的收入 (80) — Expenses not deductible for tax purposes —不可作扣稅用途的 費用 54 — Over-provision in prior year —以前年度超額撥備 — — Tax losses for which no deferred income tax asset was recognised —並無確認遞延所得稅 資產的稅項虧損 2,287	(43,606) (7,195) 32 (121) 3,103 (37) 4,253
Income tax expense 所得稅開支 19	35

151

圓美光電有限公司 2025 年報

Notes to the Consolidated Financial Statements 綜合財務報表附註

12 BASIC AND DILUTED LOSS PER SHARE

12 每股基本及攤薄虧損

Basic loss per share for the year is calculated by dividing the loss attributable to equity holders of the Company by the weighted average number of ordinary shares in issue during the year.

年內的每股基本虧損乃按本公司權益持有 人應佔虧損除以年內已發行普通股的加權 平均數計算。

2025 二零二五年	2024 二零二四年
Loss attributable to equity holders of the Company (HK$’000) 本公司權益持有人應佔 虧損（千港元） (12,492)	(42,906)
Weighted average number of ordinary shares in issue(thousands) 已發行普通股之加權 平均數（千股） 1,483,687	1,483,687
Basic and diluted loss per share (HK centsper share) 每股基本及攤薄虧損 （每股港仙） (0.84)	(2.89)

For the purpose of determining the diluted loss per share amount, no adjustment has been made to the basic loss per share amount for the years ended 31 December 2025 and 2024 as the Group had no potentially dilutive ordinary shares in issue during these years.

就釐定每股攤薄虧損而言，由於本集團於 截至二零二五年及二零二四年十二月 三十一日止年度並無任何已發行潛在攤薄 普通股，故並無就該等年度呈列的每股基 本虧損作出調整。

13 SUBSIDIARIES

13 附屬公司

The following is a list of principal subsidiaries at 31 December 2025 and 2024:

於二零二五年及二零二四年十二月三十一 日的主要附屬公司載列如下：

									Proportion of				Proportion of
									ordinary				ordinary
									shares		Proportion of		shares	Proportion of
		Place of incorporation/				Particulars of issued			directly held		ordinary		directly held	ordinary
		establishment and		Principal activities and place		share capital/paid up			by the		shares held		by the	shares held
	Name	kind of legal entity		of operation		capital			Company	by the Group			Company	by the Group
									本公司直接		本集團		本公司直接	本集團
		註冊成立╱成立地點及				已發行股份╱		持有之普通股		持有之普通股		持有之普通股		持有之普通股
	名稱	法律實體類別		主要業務及經營地點		實繳股本詳情			比例		比例		比例	比例
									(%)		(%)		(%)	(%)
									2025		2025		2024	2024
									二零二五年		二零二五年		二零二四年	二零二四年
	Rightone Resources Limited	British Virgin Islands (“BVI”),		Investment holding		10,000 ordinary shares at			100		100		100	100
			limited liability company				no par value
	Rightone Resources Limited	英屬處女群島（「英屬處女群		投資控股		10,000股無面值普通股
			島」）有限公司
	Shinwa Technology Limited	BVI, limited liability company		Holding of patents		1 ordinary share at no			—		100		—	100
							par value
	新華科技有限公司	英屬處女群島有限公司		持有專利		1股無面值普通股
	Sinosky Resources Limited	BVI, limited liability company		Investment holding		1 ordinary share at no			—		100		—	100
							par value
	Sinosky Resources Limited	英屬處女群島有限公司		投資控股		1股無面值普通股

152

Perfect Optronics Limited Annual Report 2025

Notes to the Consolidated Financial Statements 綜合財務報表附註

13 SUBSIDIARIES (Continued) 13 附屬公司（續）

									Proportion of				Proportion of
									ordinary				ordinary
									shares		Proportion of		shares	Proportion of
		Place of incorporation/				Particulars of issued			directly held		ordinary		directly held	ordinary
		establishment and		Principal activities and place		share capital/paid up			by the		shares held		by the	shares held
	Name	kind of legal entity		of operation		capital			Company	by the Group			Company	by the Group
									本公司直接		本集團		本公司直接	本集團
		註冊成立╱成立地點及				已發行股份╱		持有之普通股		持有之普通股		持有之普通股		持有之普通股
	名稱	法律實體類別		主要業務及經營地點		實繳股本詳情			比例		比例		比例	比例
									(%)		(%)		(%)	(%)
									2025		2025		2024	2024
									二零二五年		二零二五年		二零二四年	二零二四年
	Dexing Investment Limited	BVI, limited liability company		Investment holding		1 ordinary share at no			—		100		—	100
							par value
	Dexing Investment Limited	英屬處女群島有限公司		投資控股		1股無面值普通股
	Yuan Tai Investment Limited	Samoa, limited liability		Investment holding		100 ordinary shares of			—		100		—	100
			company				USD1 each
	圓台投資有限公司	薩摩亞有限公司		投資控股		100股每股面值1美元
							普通股
	Perfect Display Limited	Hong Kong, limited liability		Trading of display panels		38,000,000 ordinary			—		100		—	100
			company		and related electronic		shares
					components in Hong
					Kong
	圓美顯示有限公司	香港有限公司		於香港銷售顯示面板及相關		38,000,000股普通股
					電子部件
	Perfect Sky Technology Limited	Hong Kong, limited liability		Electronic product		1 ordinary share			—		100		—	100
			company		application development
					in Hong Kong
	圓天科技有限公司	香港有限公司		於香港進行電子產品應用		1股普通股
					開發
	Yuan Mei Xin Technology	The PRC, limited liability		Wholesaling, import and		USD1,000,000			—		100		—	100
	(Shenzhen) Company		company		export of display panels
	Limited				and related electronic
					components and
					provision of technical
					support and related
					services in the PRC
	圓美鑫科技（深圳）有限公司	中國有限公司		於中國從事顯示面板及相關		1,000,000美元
					電子部件的批發、進口
					及出口，以及提供技術
					支援及相關服務
	Yuan Tian Technology	The PRC, limited liability		Research and development,		USD100,000			—		100		—	100
	(Shenzhen) Company		company		provision of technical
	Limited				support and related
					services in the PRC
	圓天科技（深圳）有限公司	中國有限公司		於中國研發及提供技術支援		100,000美元
					及相關服務
	Yuan Tai Electronics Company	Taiwan, limited liability		Design, development and		500,000 ordinary shares			—		100		—	100
	Limited		company		sales of electronic		of TWD10 each
					products in Taiwan
	圓台電子股份有限公司	台灣有限公司		於台灣設計、開發及銷售電		500,000股每股面值
					子產品		新台幣10元的普通股
	Perfect Shiny Technology	Samoa, limited liability		Investment holding		500,000 ordinary shares			—		100		—	100
	Limited		company				of USD1 each
	圓尚科技有限公司	薩摩亞有限公司		投資控股		500,000股每股面值
							1美元之普通股

153

圓美光電有限公司 2025 年報

Notes to the Consolidated Financial Statements 綜合財務報表附註

13 SUBSIDIARIES (Continued) 13 附屬公司（續）

									Proportion of				Proportion of
									ordinary				ordinary
									shares		Proportion of		shares	Proportion of
		Place of incorporation/				Particulars of issued			directly held		ordinary		directly held	ordinary
		establishment and		Principal activities and place		share capital/paid up			by the		shares held		by the	shares held
	Name	kind of legal entity		of operation		capital			Company	by the Group			Company	by the Group
									本公司直接		本集團		本公司直接	本集團
		註冊成立╱成立地點及				已發行股份╱		持有之普通股		持有之普通股		持有之普通股		持有之普通股
	名稱	法律實體類別		主要業務及經營地點		實繳股本詳情			比例		比例		比例	比例
									(%)		(%)		(%)	(%)
									2025		2025		2024	2024
									二零二五年		二零二五年		二零二四年	二零二四年
	Perfect Shiny Technology (HK)	Hong Kong, limited liability		Design, development and		1 ordinary share			—		100		—	100
	Limited		company		sales of applied
					optics-related products
					in Hong Kong
	圓尚科技（香港）有限公司	香港有限公司		在香港設計、開發及銷售應		1股普通股
					用光學產品
	Perfect Shiny Technology	The PRC, limited liability		Sales, research and		RMB1,000,000			—		100		—	100
	(Shenzhen) Limited		company		development of
					optics-related products
					in the PRC
	圓尚科技（深圳）有限公司	中國有限公司		於中國銷售及研發光學相關		人民幣1,000,000元
					產品
	Skyteam Resources Limited	BVI, limited liability company		Investment holding		1 ordinary share at no			—		100		—	100
							par value
	Skyteam Resources Limited	英屬處女群島有限公司		投資控股		1股無面值普通股
	Naruto Technology Limited	Hong Kong, limited liability		Not yet commenced		10,000,000 ordinary			—		100		—	100
			company		business		shares
	鳴門科技有限公司	香港有限公司		未開展業務		10,000,000股普通股
	Perinnova Limited	BVI, limited liability company		Investment holding		10,000 ordinary shares at			—		62		—	62
							no par value
	Perinnova Limited	英屬處女群島有限公司		投資控股		10,000股無面值普通股
	Perfect Intelligent Technology	Hong Kong, limited liability		Design, development and		10,000 ordinary shares			—		62		—	62
	Limited		company		sales of digital
					information signage and
					electronic shelf display
					products in Hong Kong
					and Taiwan
	圓美智能科技有限公司	香港有限公司		於香港及台灣設計、開發及		10,000股普通股
					銷售數碼告示板及電子
					貨架顯示器產品
	Fayeking Technology Limited	Hong Kong, limited liability		Design, development and		10,000 ordinary shares			—		100		—	100
			company		sales of environmental-
					friendly products and
					sale of health-related
					products in Hong Kong
	飛勁科技有限公司	香港有限公司		於香港設計、開發及銷售環		10,000股普通股
					保產品及銷售健康相關
					產品

154

Perfect Optronics Limited Annual Report 2025

Notes to the Consolidated Financial Statements 綜合財務報表附註

14 PROPERTY, PLANT AND EQUIPMENT 14 物業、廠房及設備

Leasehold improvements Moulds and machinery Furniture and office equipment Motor vehicles Total 租賃樓宇裝修 模具及機器 傢俱及 辦公室設備 汽車 總計 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 千港元 千港元 千港元 千港元 千港元	Leasehold improvements Moulds and machinery Furniture and office equipment Motor vehicles Total 租賃樓宇裝修 模具及機器 傢俱及 辦公室設備 汽車 總計 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 千港元 千港元 千港元 千港元 千港元	Leasehold improvements Moulds and machinery Furniture and office equipment Motor vehicles Total 租賃樓宇裝修 模具及機器 傢俱及 辦公室設備 汽車 總計 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 千港元 千港元 千港元 千港元 千港元	Leasehold improvements Moulds and machinery Furniture and office equipment Motor vehicles Total 租賃樓宇裝修 模具及機器 傢俱及 辦公室設備 汽車 總計 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 千港元 千港元 千港元 千港元 千港元	Leasehold improvements Moulds and machinery Furniture and office equipment Motor vehicles Total 租賃樓宇裝修 模具及機器 傢俱及 辦公室設備 汽車 總計 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 千港元 千港元 千港元 千港元 千港元
At 1 January 2024 於二零二四年一月一日 Cost 成本 3,067 1,871 2,221 4,589 11,748 Accumulated depreciation 累計折舊 (3,058) (1,871) (2,061) (4,589) (11,579)
Net book amount 賬面淨值 9 — 160 — 169
Year ended 31 December 2024 截至二零二四年 十二月三十一日止年度 Opening net book amount 年初賬面淨值 9 — 160 — 169 Currency translation differences 外幣折算差額 — — (7) — (7) Additions 添置 — — 55 622 677 Depreciation charge (Note 8) 折舊支出（附註8） (9) — (59) (83) (151)
Closing net book amount 年末賬面淨值 — — 149 539 688
At 31 December 2024 於二零二四年 十二月三十一日 Cost 成本 2,956 1,755 2,178 3,372 10,261 Accumulated depreciation 累計折舊 (2,956) (1,755) (2,029) (2,833) (9,573)
Net book amount 賬面淨值 — — 149 539 688
Year ended 31 December 2025 截至二零二五年 十二月三十一日止年度 Opening net book amount 年初賬面淨值 — — 149 539 688 Currency translation differences 外幣折算差額 — — 7 — 7 Additions 添置 — — 7 — 7 Depreciation charge (Note 8) 折舊支出（附註8） — — (103) (124) (227)
Closing net book amount 年末賬面淨值 — — 60 415 475
At 31 December 2025 於二零二五年 十二月三十一日 Cost 成本 1,237 1,838 1,676 2,734 7,485 Accumulated depreciation 累計折舊 (1,237) (1,838) (1,616) (2,319) (7,010)
Net book amount 賬面淨值 —
	—	60	415	475

155

圓美光電有限公司 2025 年報

Notes to the Consolidated Financial Statements 綜合財務報表附註

	Right-of-use assets—Properties 使用權資產 — 物業 As at 1 January 於一月一日 — Additions 添置 — Depreciation expense (Note 8) 折舊開支（附註8） — Provision for impairment(Note 8) 減值撥備（附註8） —
	As at 31 December 於十二月三十一日 —
	Lease liabilities 租賃負債 As at 1 January 於一月一日 885 Additions 添置 — Interest expense 利息開支 10 Payments of principal element 支付本金部分 (873) Payments of interest element 支付利息部分 (10) Exchange realignment 匯率調整 4
	As at 31 December 於十二月三十一日 16
	Current 流動 16 Non-current 非流動 —
	16

156

Perfect Optronics Limited Annual Report 2025

Notes to the Consolidated Financial Statements 綜合財務報表附註

15 LEASES (Continued)

15 租賃（續）

• (b) Amounts recognised in the consolidated statement of comprehensive income

• (b) 於綜合全面收益表確認的金額

The consolidated statement of comprehensive income shows the following amounts relating to leases:

綜合全面收益表展示以下與租賃相關金 額：

綜合全面收益表展示 額： The consolidated statement of comprehensive income shows the following amounts relating to leases:	以下與租賃相關金
2025 二零二五年 HK$’000 千港元	2024 二零二四年 HK$’000 千港元
Depreciation charge of right-of-use assets — Properties (Note 8) 使用權資產之折舊支出 —物業（附註8） — Provision for impairment of right-of-use assets (Note 8) 使用權資產減值撥備 （附註8） — Interest expense (Note 10) 利息開支（附註10） 10 Expense relating to short-term leases (Note 8) 短期租賃相關開支（附註8） 2,799 Expense relating to leases of low-value assets that are not shown above as short-term leases (Note 8) 未於上文展示為短期租賃 的低價值資產租賃相關 開支（附註8） 45 Expense relating to variable lease payments not included in lease liabilities(Note 8) 並無計入租賃負債的可變 租賃付款相關開支 （附註8） 217	122 387 79 2,199 20 293

The total cash outflow for leases during the year ended 31 December 2025 was HK$3,944,000 (2024: HK$5,616,000).

截至二零二五年十二月三十一日止年度租 賃的現金流出總額為3,944,000港元（二零 二四年：5,616,000港元）。

Management has performed impairment assessment on right-of-use assets and determined their recoverable amounts by the higher of fair value less costs of disposal (“FVLCD”) and value in use. Management applied the cash flows forecast (“DCF”) which covers the remaining lease terms to determine the recoverable amounts under FVLCD methods. Based on the results of management’s impairment assessment, provision for impairment on right-of-use assets of HK$387,000 was made for the year ended 31 December 2024. Discount rates used by management in the DCF are pre-tax and reflect specific risks relating to the related cash-generating units.

管理層對使用權資產進行減值評估，並以 公允價值減出售成本（「公允價值減出售成 本」）與使用價值兩者中的較高者釐定其可 收回金額。管理層採用按涵蓋剩餘租期的 現金流量預測法（「現金流量預測法」）來釐 定公允價值減出售成本法項下的可收回金 額。根據管理層的減值評估結果，截至二 零二四年十二月三十一日止年度內，使用 權資產減值撥備為387,000港元。管理層 在現金流量預測法中使用的貼現率為稅前 貼現率，反映相關現金產生單位的特定風 險。

圓美光電有限公司 2025 年報 157

Notes to the Consolidated Financial Statements 綜合財務報表附註

16 INTANGIBLE ASSETS

16 無形資產

	16 INTANGIBLE ASSETS		16無形資產
				Club
				memberships
				會所會籍
				HK$’000
				千港元
	At 1 January 2024	於二零二四年一月一日
	Cost Accumulated impairment	成本 累計減值		5,322 —
	Net book amount	賬面淨值		5,322
	Year ended 31 December 2024	截至二零二四年十二月三十一日止年度
	Opening net book amount	年初賬面淨值		5,322
	Impairment charge	減值撥備		—
	Closingnet book amount	期末賬面淨值		5,322
	At 31 December 2024	於二零二四年十二月三十一日
	Cost Accumulated impairment	成本 累計減值		5,322 —
	Net book amount	賬面淨值		5,322
	At 1 January 2025	於二零二五年一月一日
	Cost Accumulated impairment	成本 累計減值		5,322 —
	Net book amount	賬面淨值		5,322
	Year ended 31 December 2025	截至二零二五年十二月三十一日止年度
	Opening net book amount	年初賬面淨值		5,322
	Impairment charge	減值撥備		—
	Closingnet book amount	期末賬面淨值		5,322
	At 31 December 2025	於二零二五年十二月三十一日
	Cost Accumulated impairment	成本 累計減值		5,322 —
	Net book amount	賬面淨值		5,322

The Group’s intangible assets as at 31 December 2025 and 2024 comprise membership rights with indefinite useful life and are stated at cost less any impairment losses.

本集團於二零二五年及二零二四年十二月 三十一日的無形資產包括無特定使用年期 的會籍權利，按成本減任何減值虧損列 賬。

Management applied FVLCD by using the market approach when determining the recoverable amounts. During the years ended 31 December 2025 and 2024, no impairment was made in relation to the membership rights.

管理層在釐定可收回金額時應用公允價值 減銷售成本中的市場法。截至二零二五年 及二零二四年十二月三十一日止年度，概 無就會籍權利作出減值。

158

Perfect Optronics Limited Annual Report 2025

Notes to the Consolidated Financial Statements 綜合財務報表附註

17 FINANCIAL INSTRUMENTS BY CATEGORY

17 按類別劃分的金融工具

The Group holds the following financial instruments at 31 December 2025 and 2024:

本集團於二零二五年及二零二四年十二月 三十一日持有下列金融工具︰

三十一日持有下列金 at 31 December 2025 and 2024:	融工具︰
2025 二零二五年 HK$’000 千港元	2024 二零二四年 HK$’000 千港元
Financial assets 金融資產 Financial assets at amortised cost: 按攤銷成本列賬的 金融資產︰ Trade and other receivables 應收賬款及其他應收款 3,986 Cash and cash equivalents 現金及現金等價物 18,244 Financial asset at FVOCI 按公允價值計入其他全面 收益之金融資產 135 Financial asset at FVTPL 按公允價值計入損益之 金融資產 9,911	3,627 24,407 1,368 16,641
32,276	46,043
Financial liabilities 金融負債 Liabilities at amortised cost: 按攤銷成本列賬的負債︰ Trade and other payables 應付賬款及其他應付款 5,070 Bank loan 銀行貸款 3,066 Lease liabilities 租賃負債 16	4,871 3,809 885
8,152	9,565

The Group’s exposure to various risks associated with the financial instruments is detailed in Note 3.1. The maximum exposure to credit risk at the end of the reporting period is the carrying amount of each class of financial assets mentioned above.

本集團面臨的與金融工具相關的各種風險 詳載於附註3.1。報告期末的最大信貸風 險為上述各類金融資產的賬面值。

圓美光電有限公司 2025 年報 159

Notes to the Consolidated Financial Statements 綜合財務報表附註

18 FINANCIAL ASSET AT FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME

18 按公允價值計入其他全面收益 之金融資產

The Group’s financial asset at FVOCI comprises the Group’s equity investment in certain ordinary shares issued by a private company principally engaged in the research and development, manufacturing and sale of separator which is a key component in lithium battery, representing an approximately 0.96% (2024: 0.96%) shareholding of such company. The balance is denominated in TWD. Such equity investment is not held for trading and the Group considered it as a strategic investment. The Group has irrevocably elected at initial recognition this investment to recognise as financial asset at FVOCI.

本集團按公允價值計入其他全面收益之金 融資產包括本集團於一間私人公司所發行 若干普通股的股權投資，約佔該公司 0.96%股權（二零二四年：0.96% ），該私 人公司主要從事研發、製造及銷售隔離膜 （為鋰電池的主要部分）。結餘以新台幣計 值。此類股權投資不用於交易，本集團認 為此乃戰略投資。本集團在初始確認時已 不可撤銷地選擇將其歸入按公允價值計入 其他全面收益之金融資產。

其他全面收益之金融 considered it as a strategic investment. The Group has irrevocably elected at initial recognition this investment to recognise as financial asset at FVOCI.	資產。
2025 二零二五年 HK$’000 千港元	2024 二零二四年 HK$’000 千港元
Balance at 1 January 於一月一日之結餘 1,368 Fair value changes recognised in other comprehensive income 於其他全面收益內確認之 公允價值變動 (1,233)	1,500 (132)
Balance at 31 December 於十二月三十一日之結餘 135	1,368

On disposal of such equity investment, any related 出售有關股權投資時，重估儲備內的任何 balance within the revaluation reserve is reclassified 相關結餘均重新分類至累計虧損。 to accumulated losses.

160

Perfect Optronics Limited Annual Report 2025

Notes to the Consolidated Financial Statements 綜合財務報表附註

19 FINANCIAL ASSET AT FAIR VALUE THROUGH PROFIT OR LOSS

19 按公允價值計入損益之金融資 產

The balance of the Group’s financial asset at FVTPL as at 31 December 2025 comprised the Group’s holding of 17,698,220 (2024: 25,213,220) ordinary shares (“Mobvoi Shares”) of Mobvoi Inc. (“Mobvoi”), a company principally engaged in the rendering of artificial intelligence software solutions and sale of smart devices to enterprise and individual customers. The Group’s shareholding proportion in Mobvoi was approximately 1.14% as at 31 December 2025 (2024: 1.66%). The balance was denominated in HK$. No dividend has been received by the Group from Mobvoi since its investment. Depending on the prevailing market conditions, the Group may from time to time dispose of up to all of the Mobvoi Shares held. The Mobvoi Shares held by the Group have therefore been classified as current assets.

本集團按公允價值計入損益之金融資產於 二零二五年十二月三十一日的結餘包括本 集團持有的17,698,220股（二零二四 年:25,213,220股）出門問問有限公司（「出 門問問」）普通股股份（「出門問問股份」）， 出門問問為主要從事向企業及個人客戶提 供人工智能軟件解決方案及銷售智能設備 的公司。於二零二五年十二月三十一日， 本集團在出門問問的持股比例約為1.14% （二零二四年：1.66% ）。該結餘以港元計 值。自其投資以來，本集團未曾自出門問 問收取過股息。根據現行市場情況，本集 團可能不時出售最多全部持有的出門問問 股份，因此本集團持有的出門問問股份已 被分類為流動資產。

2025 二零二五年 HK$’000 千港元	2024 二零二四年 HK$’000 千港元
Balance at 1 January 於一月一日之結餘 16,641 Disposals 出售 (6,919) Fair value changes recognised in other gains/(losses), net 於其他收益╱（虧損）淨額 中確認的公允價值變動 189	35,848 — (19,207)
Balance at 31 December 於十二月三十一日之結餘 9,911	16,641

Information about the Group’s exposure to price risk is provided in Note 3.1. For information about the methods and assumptions used in determining fair value see Note 3.3.

有關本集團面臨的價格風險的資料見附註 3.1。有關確定公允價值的方法及假設的 信息，請參見附註3.3。

161

圓美光電有限公司 2025 年報

Notes to the Consolidated Financial Statements 綜合財務報表附註

20 INVENTORIES 20 存貨

20存貨 20 INVENTORIES
2025 二零二五年 HK$’000 千港元	2024 二零二四年 HK$’000 千港元
Finished goods 完成品 18,811 Less: Provision for obsolete inventories 減：陳舊存貨撥備 (14,442)	19,303 (14,243)
4,369	5,060

The cost of inventories recognised as expense and included in “cost of sales” amounted to HK$85,482,000 (2024: HK$79,778,000) for the year (Note 8).

本年度確認為開支並計入「銷售成本」的存 貨成本為85,482,000港元（二零二四年： 79,778,000港元）（附註8）。

Write-downs of inventories to net realisable value amounted to HK$401,000 for the year ended 31 December 2025 (2024: reversal of provision for obsolete inventories of HK$122,000). These write-downs were included in “cost of sales” in profit or loss.

截至二零二五年十二月三十一日止年度， 存貨減損至可變現淨值金額為401,000港 元（二零二四年：陳舊存貨撥備回撥 122,000港元）。此減損金額計入損益中的 「銷售成本」。

162

Perfect Optronics Limited Annual Report 2025

Notes to the Consolidated Financial Statements 綜合財務報表附註

21 TRADE RECEIVABLES, PREPAYMENTS 21 應收賬款，預付款及其他應 AND OTHER RECEIVABLES 收款

				2025	2024
				二零二五年	二零二四年
				HK$’000	HK$’000
				千港元	千港元
	Trade receivables (Note (a))	應收賬款（附註(a)）		1,665	1,764
	Prepayments	預付款		1,850	1,244
	Deposits	按金		1,030	1,239
	Other receivables	其他應收款		1,291	624
				5,836	4,871

Trade receivables are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

應收賬款為在正常經營過程中因銷售商品 或提供服務而應收客戶的款項。

Notes:

附註：

(a) The Group generally grants credit periods of 30 to 90 days. (a) 本集團一般授出30至90天的信貸期。根據發票 The ageing analysis of trade receivables based on invoice 日期計算的應收賬款的賬齡分析如下： date is as follows:

				2025	2024
				二零二五年	二零二四年
				HK$’000	HK$’000
				千港元	千港元
	0–30 days	0–30天		487	1,077
	31–60 days	31–60天		514	423
	61–90 days	61–90天		275	48
	Over 90 days	90天以上		389	216
				1,665	1,764

Based on the assessment, the loss allowance provision for these trade receivables balances was not material.

根據有關評估，就該等應收賬款結餘作出的虧 損撥備並不重大。

163

圓美光電有限公司 2025 年報

Notes to the Consolidated Financial Statements 綜合財務報表附註

21 TRADE RECEIVABLES, PREPAYMENTS 21 應收賬款，預付款及其他應 AND OTHER RECEIVABLES 收款（續） (Continued) Notes: (Continued) 附註：（續）

• (b) The carrying amounts of the Group’s trade receivables, (b) 本集團應收賬款，按金及其他應收款之賬面值 deposits and other receivables are denominated in the 按以下貨幣計值： following currencies:

	following currencies:
				2025	2024
				二零二五年	二零二四年
				HK$’000	HK$’000
				千港元	千港元
	HK$	港元		1,651	2,132
	USD RMB	美元 人民幣		1,354 506	648 671
	TWD	新台幣		475	176
				3,986	3,627

• (c) Due to the short-term nature of the current receivables, their (c) 由於當期應收款為短期性質，其賬面值被視為 carrying amounts are considered to be a reasonable 與其公允價值合理地相若。 approximation of their fair values.

22 CASH AND CASH EQUIVALENTS

22 現金及現金等價物

	22 CASH AND CASH EQUIV		22現 LENTS	金及現金等價	物
				2025	2024
				二零二五年	二零二四年
				HK$’000	HK$’000
				千港元	千港元
	Cash on hand and at bank	現金及銀行存款		18,244	24,407

The carrying amounts of the Group’s total cash on hand and at bank are denominated in the following currencies:

本集團現金及銀行存款之賬面值以下列貨 幣計值：

	currencies:
				2025	2024
				二零二五年	二零二四年
				HK$’000	HK$’000
				千港元	千港元
	USD	美元		9,709	9,856
	RMB	人民幣		4,430	7,745
	HK$	港元		3,874	6,556
	TWD	新台幣		231	250
				18,244	24,407

164

Perfect Optronics Limited Annual Report 2025

Notes to the Consolidated Financial Statements 綜合財務報表附註

22 CASH AND CASH EQUIVALENTS (Continued)

22 現金及現金等價物（續）

B a n k b a l a n c e o f H K $ 4 , 2 7 8 , 0 0 0 ( 2 0 2 4 : HK$7,587,000) are held in the mainland China and are subject to local exchange control regulation. These local exchange control regulations impose restrictions on exporting capital from the mainland China, other than through normal dividends.

銀行存款結餘為4,278,000港元（二零二四 年：7,587,000港元）乃於中國大陸持有， 並受當地外匯管制條例約束。該等當地外 匯管制條例限制除通過正常股息外，由中 國大陸匯出資金。

23 SHARE CAPITAL

23 股本

	23 SHARE CAPITAL		23股		本	本	本	本
					31 December 2025 and 2024
					二零二五年及二零二四年
					十二月三十一日
				Number of shares				Amount
					股份數目			金額
					(thousands)			HK$’000
					（千股）			千港元
	Authorised:	法定：
	Ordinaryshares of HK$0.01 each	每股普通股0.01港元			5,000,000			50,000
					Number of		Ordinary shares
					shares	of HK$0.01 each
							每股普通股
					股份數目			0.01港元
								HK$’000
								千港元
	Issued and fully paid:	已發行及繳足：
	At 1 January 2024, 31 December 2024,	於二零二四年一月一日、
	1 January 2025 and		二零二四年十二月
	31 December 2025		三十一日、二零二五年
			一月一日及二零二五年
			十二月三十一日		1,483,687,151			14,837

There were no movements in the Company’s share capital during the year (2024: Nil).

年內，本公司股本概無任何變動（二零 二四年：無）。

24 TRADE AND OTHER PAYABLES

24 應付賬款及其他應付款

24應付賬款及其他 24 TRADE AND OTHER PAYABLES	應付款
2025 二零二五年 HK$’000 千港元	2024 二零二四年 HK$’000 千港元
Trade payables (Note (a)) 應付賬款（附註(a)） 125 Deposits received from customers 收取客戶按金 2,520 Contract liabilities (Note (d)) 合同負債（附註(d)） 2,956 Accruals and otherpayables 應計款項及其他應付款 5,141	101 2,460 557 5,132
10,742	8,250

165

圓美光電有限公司 2025 年報

Notes to the Consolidated Financial Statements 綜合財務報表附註

24 TRADE AND OTHER PAYABLES (Continued)

Notes:

• (a) The ageing analysis of trade payables based on invoice date is as follows:

24 應付賬款及其他應付款（續）

附註：

(a) 根據發票日期計算的應付賬款的賬齡分析如 下：

	(a) The ageing analysis of trade payables is as follows:		(a) ased on invoice date	根據發票日期計算的 下：	應付賬款的賬齡分析如
				2025	2024
				二零二五年	二零二四年
				HK$’000	HK$’000
				千港元	千港元
	0–30 days	0–30天		57	49
	31–60 days	31–60天		51	—
	61–90 days	61–90天		5	—
	Over 90 days	90天以上		12	52
				125	101

• (b) The carrying amounts of the Group’s trade and other payables (excluding contract liabilities) are denominated in the following currencies:

(b) 本集團的應付賬款及其他應付款（不包括合同 負債）以下列貨幣計值：

	the following currencies:
				2025	2024
				二零二五年	二零二四年
				HK$’000	HK$’000
				千港元	千港元
	HK$	港元		2,666	2,955
	USD	美元		2,156	2,230
	RMB	人民幣		2,653	2,182
	TWD	新台幣		311	326
				7,786	7,693

• (c) The carrying amounts of trade and other payables approximate their fair values.

• (d) Details of contract liabilities

• (i) Contract liabilities represent advanced payments received for orders from the customers for goods of which the control has not yet been transferred to the customers.

• (c) 應付賬款及其他應付款之賬面值與其公允價 值相若。

• (d) 合同負債詳情

  • (i) 合同負債指就貨品訂單自客戶收取的 預付款項，而該等貨品之控制權尚未轉 移予客戶。

• (ii) Revenue recognised during the year that was included in the contract liabilities balance at the beginning of the year amounted to HK$557,000 (2024: HK$783,000).

• (iii) Unsatisfied performance obligation

As at 31 December 2025 and 2024, all performance obligations not yet satisfied by the Group were from contracts with original expected duration of less than one year. Therefore, as permitted by the relevant practical expedient under HKFRS 15, the transaction price allocated to these unsatisfied performance obligations was not disclosed.

• (ii) 年初合同負債餘額中計入本年度確認 的收入金額為557,000港元（二零二四 年： 783,000港元）。

(iii) 未履行履約義務

於二零二五年及二零二四年十二月 三十一日，本集團所有未履行的履約義 務均來自原預期期限不足一年的合同。 因此，根據香港財務報告準則第15號項 下有關的實務權宜條文，分配至該等未 履行履約義務的交易價格並未披露。

166

Perfect Optronics Limited Annual Report 2025

Notes to the Consolidated Financial Statements 綜合財務報表附註

25 BANK LOAN 25 銀行貸款

	25 BANK LOAN		25銀	行貸款
				2025	2024
				二零二五年	二零二四年
				HK$’000	HK$’000
				千港元	千港元
	Current portion	當期部分		769	743
	Non-currentportion	非當期部分		2,297	3,066
				3,066	3,809

At 31 December, the Group’s bank loan was 於十二月三十一日，本集團銀行貸款的償 repayable as follows: 還情況如下：

於十二月三十一日，本 還情況如下： At 31 December, the Group’s bank loan was repayable as follows:	集團銀行貸款的償
2025 二零二五年 HK$’000 千港元	2024 二零二四年 HK$’000 千港元
Within 1 year 1年以內 769 Between 1 and 2 years 1至2年 790 Between 2 and 5 years 2至5年 1,507 Over 5years 5年以上 —	743 766 2,300 —
3,066	3,809

The Group’s bank loan was obtained under the SME Financing Guarantee Scheme launched by the Government of HKSAR mature in 2029. The carrying amount of the bank loan is denominated in HK$, and carried at a floating interest rate of prime rate minus 2.5% per annum.

本集團的銀行貸款乃根據香港特區政府推 出的中小企融資擔保計劃獲得，期限至二 零二九年。該銀行貸款的賬面值以港元為 單位，按浮動年利率最優惠利率減2.5厘計 息。

The carrying amount of the Group’s bank loan as at 31 December 2025 approximated its fair value.

於二零二五年十二月三十一日，本集團銀 行貸款的賬面值與其公允價值相若。

The Group’s bank loan is secured by HKMC Insurance Limited and personal guarantee from Mr. Cheng Wai Tak, a substantial shareholder and director of the Company.

本集團的銀行貸款由香港按證保險有限公 司及本公司主要股東兼董事鄭偉德先生的 個人擔保抵押。

Apart from the above bank loan, which was fully utilised, the Group had no other banking facilities as at 31 December 2025 (2024: Nil).

除上述已全數動用的銀行貸款外，本集團 於二零二五年十二月三十一日並無其他銀 行融資（二零二四年：無）。

Details of the Group’s exposure to risks arising from bank loan are set out in Note 3.1(a)(ii).

本集團面臨的銀行貸款風險的詳情載於附 註3.1(a)(ii) 。

167

圓美光電有限公司 2025 年報

Notes to the Consolidated Financial Statements 綜合財務報表附註

26 DEFERRED INCOME TAX LIABILITIES 26 遞延所得稅負債

The movements in deferred income tax assets/ (liabilities) in respect of accelerated tax depreciation during the year are as follows:

與於年內的加速稅項折舊有關的遞延所得 稅資產╱（負債）變動如下：

稅資產╱（負債）變動 (liabilities) in respect of accelerated tax depreciation during the year are as follows:	如下：
2025 二零二五年 HK$’000 千港元	2024 二零二四年 HK$’000 千港元
Beginning of the year 年初 (3) Charged toprofit or loss(Note 11) 自損益中扣除（附註11） (19)	69 (72)
End of theyear 年末 (22)	(3)

Deferred income tax assets are recognised for tax loss carry-forward to the extent that the realisation of the related tax benefit through future taxable profits is probable. As at 31 December 2025, the Group did not recognise deferred income tax assets of HK$46,994,000 (2024: HK$45,024,000) in respect of tax losses of certain Hong Kong subsidiaries of HK$274,207,000 (2024: HK$270,722,000) which will not expire under current tax legislation, and tax losses of certain subsidiaries and branch of the Group in other jurisdictions of HK$11,046,000 (2024: HK$7,094,000) which will expire in five to ten years.

遞延所得稅資產乃就稅項虧損結轉而確 認，惟限於相關稅項利益可因未來應課稅 利潤變現屬可能者。於二零二五年十二月 三十一日，本集團並無確認遞延所得稅資 產46,994,000港 元（二 零 二 四 年： 45,024,000港元），涉及若干香港附屬公司 的稅項虧損274,207,000港元（二零二四 年：270,722,000港元）（根據目前稅法不會 失效），以及若干本集團於其他司法管轄 區的附屬公司和分公司的稅項虧損 11,046,000港元（二零二四年：7,094,000 港元）（將於五年至十年後失效）。

As at 31 December 2025 and 2024, no deferred income tax assets have been recognised in the consolidated statement of financial position. Accordingly, there is no offsetting of deferred income tax assets and deferred income tax liabilities.

於二零二五年及二零二四年十二月三十一 日，概無於綜合財務狀況表中確認遞延所 得稅資產。因此，概無遞延所得稅資產與 遞延所得稅負債之抵銷。

27 DIVIDENDS

27 股息

The Board did not declare any dividend for the year ended 31 December 2025 (2024: Nil).

董事會並無宣派截至二零二五年十二月 三十一日止年度的任何股息（二零二四 年：無）。

168

Perfect Optronics Limited Annual Report 2025

Notes to the Consolidated Financial Statements 綜合財務報表附註

28 CASH FLOW INFORMATION 28 現金流量資料

• (a) Reconciliation of loss before income tax to cash (a) 除所得稅前虧損與經營所用現金之對賬 used in operations

2025 二零二五年 HK$’000 千港元	2024 二零二四年 HK$’000 千港元
Loss before income tax 除所得稅前虧損 (13,314) Adjustments for: 就以下各項調整： — Depreciation of property, plant and equipment (Note 8) —物業、廠房及設備 折舊（附註8） 227 — Gain on disposal of property, plant and equipment —出售物業、廠房及 設備收益 (90) — Depreciation of right-of-use assets (Note 8) —使用權資產折舊 （附註8） — — Provision for impairment of right-of-use assets (Note 8) —使用權資產減值撥備 （附註8） — — Provision/(reversal of provision) for obsolete inventories (Note 8) —陳舊存貨撥備╱（撥備 回撥） （附註8） 401 — Finance income (Note 10) —財務收入（附註10） (27) — Finance costs (Note 10) —財務費用（附註10） 113 — Net gain on financial asset at FVTPL (Note 7) —按公允價值計入損益 的金融資產之淨收 益（附註7） (177)	(43,606) 151 — 122 387 (122) (104) 229 19,207
Operating loss before changes in working capital 營運資金變動前經營虧損 (12,867) Changes in working capital 營運資金變動 — Inventories —存貨 320 — Trade receivables, prepayments and other receivables —應收賬款、預付款 及其他應收款 (856) — Trade and other payables —應付賬款及其他 應付款 1,683	(23,736) 12,883 2,905 (9,479)
Cash used in operations 經營所用現金 (11,720)	(17,427)

(b) This section sets out an analysis of net cash (b) 本節載列於二零二五年及二零二四年十二 position as at 31 December 2025 and 2024 月三十一日的現金淨額狀況分析

2025 二零二五年 HK$’000 千港元	2024 二零二四年 HK$’000 千港元
Cash and cash equivalents (Note 22) 現金及現金等價物 （附註22） 18,244 Bank loan (Note 25) 銀行貸款（附註25） (3,066) Lease liabilities(Note 15) 租賃負債（附註15） (16)	24,407 (3,809) (885)
15,162	19,713

圓美光電有限公司 2025 年報 169

Notes to the Consolidated Financial Statements 綜合財務報表附註

28 CASH FLOW INFORMATION 28 現金流量資料（續）

(Continued)

• (c) Reconciliation of liabilities arising from financing (c) 融資活動所產生負債之對賬 activities

Bank loan 銀行貸款 HK$’000 千港元	Lease liabilities 租賃負債 HK$’000 千港元	Total 總計 HK$’000 千港元
As at 1 January 2024 於二零二四年一月一日 4,519 Cash flows 現金流 — Payments of principal element of lease liabilities —支付租賃負債本金部份 — — Payments of interest element of lease liabilities —支付租賃負債利息部份 — — Repayments of bank loan —償還銀行貸款 (710) Other non-cash movements 其他非現金變動 — Addition of lease liabilities —增添租賃負債 — — Interest expenses on lease liabilities —租賃負債的利息開支 — — Exchange realignment —匯兌調整 —
	3,407	7,926
	(3,025)	(3,025)
	(79)	(79)
	—	(710)
	509	509
	79 (6)	79 (6)
As at 31 December 2024 and 1 January 2025 於二零二四年 十二月三十一日及 二零二五年一月一日 3,809 Cash flows 現金流 — Payments of principal element of lease liabilities —支付租賃負債本金部份 — — Payments of interest element of lease liabilities —支付租賃負債利息部份 — — Repayments of bank loan —償還銀行貸款 (743) Other non-cash movements 其他非現金變動 — Interest expenses on lease liabilities —租賃負債的利息開支 — — Exchange realignment —匯兌調整 —
	885	4,694
	(873)	(873)
	(10)	(10)
	—	(743)
	10	10
	4	4
As at 31 December 2025 於二零二五年 十二月三十一日 3,066
	16	3,082

29 COMMITMENTS

29 承擔

At 31 December 2025, the Group had no significant 於二零二五年十二月三十一日，本集團並 capital expenditure contracted for but not 無已訂約但尚未確認為負債的重大資本開 recognised as liabilities (2024: Nil). 支（二零二四年：無）。

170

Perfect Optronics Limited Annual Report 2025

Notes to the Consolidated Financial Statements 綜合財務報表附註

30 CONTINGENT LIABILITIES

30 或然負債

As at 31 December 2025, the Group had no material contingent liabilities (2024: Nil).

於二零二五年十二月三十一日，本集團並 無重大或然負債（二零二四年：無）。

31 ASSETS PLEDGED AS SECURITIES

31 抵押為擔保的資產

As at 31 December 2025, the Group had no assets pledged as securities (2024: Nil).

於二零二五年十二月三十一日，本集團並 無抵押為擔保的資產（二零二四年：無）。

32 RELATED PARTY TRANSACTIONS

32 關連方交易

(a) Parent entity

(a) 母公司實體

The Company’s immediate and ultimate holding company is Winful Enterprises Limited, a company incorporated in the BVI, and ultimately controlled by Mr. Cheng Wai Tak, a director of the Company.

本公司的直接及最終控股公司為Winful Enterprises Limited ，其為一家於英屬處女 群島註冊成立的公司及由本公司董事鄭偉 德先生最終控制。

(b) Subsidiaries

(b) 附屬公司

Interests in subsidiaries are set out in Note 13.

於附屬公司之權益載於附註13。

(c) Key management personnel compensation

(c) 主要管理人員薪酬

Key management includes directors and senior management. The compensation paid or payable to key management for employee services is shown below:

主要管理人員包括董事及高級管理層。就 僱員的服務已付或應付主要管理人員的薪 酬如下：

	below:
				2025	2024
				二零二五年	二零二四年
				HK$’000	HK$’000
				千港元	千港元
	Short-term employee benefits (Note 34)	短期僱員福利（附註34）		7,476	7,578
	Post-employment benefits	僱員退休福利
	— defined contributionplans	—定額供款計劃		54	68
				7,530	7,646

(d) Guarantee provided by a substantial shareholder and director

(d) 一名主要股東兼董事提供的擔保

The Group’s bank loan as at 31 December 2025 and 31 December 2024 was secured by personal guarantee from Mr. Cheng Wai Tak, a substantial shareholder and director of the Company.

本集團於二零二五年十二月三十一日及二 零二四年十二月三十一日的銀行貸款由本 公司主要股東兼董事鄭偉德先生的個人擔 保抵押。

171

圓美光電有限公司 2025 年報

Notes to the Consolidated Financial Statements 綜合財務報表附註

• 33 STATEMENT OF FINANCIAL 33 本公司的財務狀況表及儲備變 POSITION AND RESERVES 動 MOVEMENT OF THE COMPANY

• (a) Statement of financial position of the Company (a) 本公司的財務狀況表

(a) 本公司的財務狀況表 (a) Statement of financial position of the Company As at 31 December 於十二月三十一日 2025 2024 二零二五年 二零二四年 Note HK$’000 HK$’000 附註 千港元 千港元	(a) 本公司的財務狀況表 (a) Statement of financial position of the Company As at 31 December 於十二月三十一日 2025 2024 二零二五年 二零二四年 Note HK$’000 HK$’000 附註 千港元 千港元
Assets 資產 Non-current assets 非流動資產 Interests in subsidiaries 於附屬公司之權益 18,509	46,970
Current assets 流動資產 Other receivables 其他應收款 308 Cash and cash equivalents 現金及現金等價物 2,742	203 3,221
3,050	3,424
Total assets 資產總額 21,559	50,394
Equity and liabilities 權益及負債 Equity attributable to equity holders of the Company 本公司權益持有人 應佔權益 Share capital 股本 14,837 Reserves 儲備 (b) 6,314	14,837 34,736
Total equity 權益總額 21,151	49,573
Liabilities 負債 Current liabilities 流動負債 Otherpayables 其他應付款 408	821
Total liabilities 負債總額 408	821
Total equityand liabilities 權益及負債總額 21,559	50,394

本公司的財務狀況表已於二零二六年三月 二十七日由董事會批准，並代表董事會簽 署。

The statement of financial position of the Company was approved by the Board of Directors on 27 March 2026 and was signed on its behalf.

Chang Huan Chia 張桓嘉 Director 董事

Hsu Wai Man Helen 徐慧敏 Director 董事

172

Perfect Optronics Limited Annual Report 2025

Notes to the Consolidated Financial Statements 綜合財務報表附註

33 STATEMENT OF FINANCIAL POSITION AND RESERVES MOVEMENT OF THE COMPANY (Continued)

33 本公司的財務狀況表及儲備變 動（續）

(b) Reserves movement of the Company

(b) 本公司的儲備變動

				Share	Contributed	Accumulated
				premium	surplus	losses	Total
				股份溢價	繳入盈餘	累計虧損	總計
				HK$’000	HK$’000	HK$’000	HK$’000
				千港元	千港元	千港元	千港元
					(Note)
					（附註）
	At 1 January 2024	於二零二四年一月一日		465,738	136,082	(524,362)	77,458
	Loss for the year	年度虧損		—	—	(42,722)	(42,722)
	At 31 December 2024 and	於二零二四年
	1 January 2025		十二月三十一日及
	Loss for the year	二零二五年一月一日 年度虧損		465,738 —	136,082 —	(567,084) (28,422)	34,736 (28,422)
	At 31 December 2025	於二零二五年十二月三十一日		465,738	136,082	(595,506)	6,314

Note: Contributed surplus of the Company represents the 附註： 本公司之繳入盈餘代表本公司已發行股份面 difference between the excess of the nominal value of the 值與根據為本公司上市而進行之重組而收購 Company’s shares issued and the aggregate net asset 之附屬公司之資產淨值總計之超出差額。 value of the subsidiaries acquired pursuant to a reorganisation for the listing of the Company.

173

圓美光電有限公司 2025 年報

Notes to the Consolidated Financial Statements 綜合財務報表附註

34 BENEFITS AND INTERESTS OF DIRECTORS

34 董事之福利及權益

• (a) Directors’ and chief executive’s emoluments

• (a) 董事及行政總裁之酬金

The remuneration of every director and the chief executive is set out below:

各董事及行政總裁之薪酬如下：

Fees 袍金 HK$’000 千港元	Salaries, allowances and benefits in kind 薪金、津貼及 實物福利 HK$’000 千港元	Discretionary bonuses 酌情花紅 HK$’000 千港元	Employer’s contribution to retirement benefit schemes 僱主對退休 福利計劃供款 HK$’000 千港元	Total 總計 HK$’000 千港元
For the year ended 31 December 2025 截至二零二五年 十二月三十一日止年度 Executive directors: 執行董事： Mr. Cheng Wai Tak (Note 1) 鄭偉德先生（附註1） — Mr. Liu Ka Wing (Note 1) 廖嘉榮先生（附註1） — Mr. Tse Ka Wing (Note 1) 謝家榮先生（附註1） — Mr. Chang Huan Chia 張桓嘉先生 240 Independent non-executive directors: 獨立非執行董事： Mr. Kan Man Wai 簡文偉先生 240 Ms. Hsu Wai Man Helen 徐慧敏女士 240 Mr. Lau Ngai Kee Ricky 劉毅基先生 240
	4,200	—	18	4,218
	636	—	18	654
	1,440	—	18	1,458
	240	—	—	480
	—	—	—	240
	—	—	—	240
	—	—	—	240
960
	6,516	—	54	7,530
For the year ended 31 December 2024 截至二零二四年 十二月三十一日止年度 Executive directors: 執行董事： Mr. Cheng Wai Tak (Note 1) 鄭偉德先生（附註1） — Mr. Liu Ka Wing (Note 1) 廖嘉榮先生（附註1） — Mr. Tse Ka Wing (Note 1) 謝家榮先生（附註1） — Mr. Chang Huan Chia 張桓嘉先生 240 Independent non-executive directors: 獨立非執行董事： Mr. Wong Yik Chung John (Note 1, 2) 黃翼忠先生（附註1、2） 56 Mr. Wong Chi Chiu (Note 1, 2) 黃智超先生（附註1、2） 56 Mr. Kan Man Wai 簡文偉先生 240 Mr. Cho Chi Kong (Note 3) 曹志光先生（附註3） 120 Ms. Hsu Wai Man Helen 徐慧敏女士 240 Mr. Lau Ngai Kee Ricky (Note 4) 劉毅基先生（附註4） 120
	4,200	—	18	4,218
	636	—	18	654
	1,440	—	18	1,458
	230	—	14	484
	—	—	—	56
	—	—	—	56
	—	—	—	240
	—	—	—	120
	—	—	—	240
	—	—	—	120
1,072
	6,506	—	68	7,646

Note 1: Suspended from duties as directors of the Company with effect from 25 September 2020

Note 2: Retired on 18 June 2024 Note 3: Resigned on 1 July 2024 Note 4: Appointed on 1 July 2024

附註1：已暫停作為本公司董事的職務，自於二零二 零年九月二十五日起生效 附註2：於二零二四年六月十八日退任 附註3：於二零二四年七月一日辭任 附註4：於二零二四年七月一日獲委任

No directors waived or agreed to waive any emoluments during the year (2024: Nil).

概無董事於年內放棄或同意放棄任何酬金 （二零二四年：無）。

174

Perfect Optronics Limited Annual Report 2025

Notes to the Consolidated Financial Statements 綜合財務報表附註

34 BENEFITS AND INTERESTS OF DIRECTORS (Continued)

• (b) Directors’ retirement benefits and termination benefits

None of the directors of the Company received or will receive any retirement benefits or termination benefits for the year ended 31 December 2025 (2024: Nil).

• (c) Consideration provided to third parties for making available directors’ services

During the year ended 31 December 2025, the Company does not pay consideration to third parties for making available directors’ service (2024: Nil).

• (d) Information about loans, quasi-loans and other dealings in favour of directors, controlled bodies corporate by and connected entitles with such directors

As at 31 December 2025, there are no loans, quasi-loans and other dealing arrangements in favour of directors, controlled bodies corporate by and connected entities with such directors (2024: Nil).

• (e) Directors’ material interests in transactions, arrangements or contracts

No significant transactions, arrangements and contracts in relation to the Group’s business to which the Company was a party and in which a director of the Company had a material interest, whether directly or indirectly, subsisted at the end of the year or at any time during the year.

34 董事之福利及權益（續）

(b) 董事退休福利及終止僱傭福利

於截至二零二五年十二月三十一日止年 度，概無本公司董事收取或將收取任何退 休福利或終止僱傭福利（二零二四年： 無）。

• (c) 就提供董事服務向第三方提供之代價

於截至二零二五年十二月三十一日止年 度，本公司並無就提供董事服務支付代價 予第三方（二零二四年：無）。

• (d) 有關以董事、受董事控制之法團及與董事 的關連實體為受益人之貸款、準貸款及其 他交易之資料

於二零二五年十二月三十一日，概無有利 於董事、受董事控制之法團及與該等董事 的關連實體為受益人之貸款、準貸款及其 他交易安排（二零二四年：無）。

(e) 董事於交易、安排或合約的重大權益

於年末或年內任何時間，概無關於本集團 業務之重大交易、安排及合約以本公司為 一名訂約方及本公司董事擁有重大權益 （不論直接或間接）。

175

圓美光電有限公司 2025 年報

Financial Summary 財務摘要

A summary of the results and of the assets, liabilities and non-controlling interests of the Group for the last five financial years, as extracted from the published audited financial statements, is set out below.

本集團於過去五個財政年度的業績及資產、負 債以及非控股權益概要（摘錄自已刊發經審核 財務報表）列載如下：

2025 二零二五年 HK$’000 千港元	For the year ended 31 December 截至十二月三十一日止年度 2024 2023 2022 2021 二零二四年 二零二三年 二零二二年 二零二一年 HK$’000 HK$’000 HK$’000 HK$’000 千港元 千港元 千港元 千港元
Results 業績 Revenue 收入 104,163	92,605 124,255 301,318 528,350
(Loss)/profit for the year attributable to: 年度（虧損）╱ 利潤歸屬於： Equity holders of the Company 本公司權益 持有人 (12,492) Non-controllinginterests 非控股權益 (841)	(42,906) (19,104) 4,038 (43,857) (735) (1,616) (555) (1,229)
(13,333)	(43,641) (20,720) 3,483 (45,086)
2025 二零二五年 HK$’000 千港元	As at 31 December 於十二月三十一日 2024 2023 2022 2021 二零二四年 二零二三年 二零二二年 二零二一年 HK$’000 HK$’000 HK$’000 HK$’000 千港元 千港元 千港元 千港元
Assets, liabilities and non- controlling interests 資產、負債及 非控股權益 Total assets 資產總額 44,292 Total liabilities 負債總額 (13,846) Non-controllinginterests 非控股權益 5,125	58,357 116,131 153,750 195,750 (12,947) (27,355) (44,412) (89,891) 4,163 3,519 1,903 1,451
35,571	49,573 92,295 111,241 107,310

176 Perfect Optronics Limited Annual Report 2025

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Perfect Optronics Limited 圓 美 光 電 有 限 公 司 www.perfect-optronics.com