年_(00401)_公告正文
公告日期：
STOCK CODE 股份代号 : 401
Wanjia Group Holdings Limited
(Incorporated in the Cayman Islands with limited liability)
万嘉集团控股有限公司
(於开曼群岛注册成立的有限公司)
Annual Report
Annual Report 2014/15 年报
万嘉集团控股有限公司
Corporate Information 2
Management’s Statement 5
管理层报告
Management Discussion and Analysis 8
管理层讨论及分析
Directors’ and Senior Management’s Profiles 19
董事及高级管理人员简历
Corporate Governance Report 25
企业管治报告
Report of the Directors 39
董事会报告
Independent Auditors’ Report 60
独立核数师报告
Consolidated Statement of Profit or Loss and Other Comprehensive Income 63
综合损益及其他全面收益表
Consolidated Statement of Financial Position 65
综合财务状况表
Statement of Financial Position 67
财务状况表
Consolidated Statement of Changes in Equity 69
综合权益变动表
Consolidated Statement of Cash Flows 71
综合现金流量表
Notes to the Consolidated Financial Statements 73
综合财务报表附注
Financial Summary 200
Contents 目 录
Corporate Information
WANJIA GROUP HOLDINGS LIMITED
ANNUAL REPORT
独立非执行董事
大有融资有限公司
审核委员会
黄汉杰 （ 主席）
薪酬委员会
黄汉杰 （ 主席）
EXECUTIVE DIRECTORS
Chen Jinshan
Shum Ngai Pan
INDEPENDENT NON-EXECUTIVE DIRECTORS
Liang Yichi
Wong Hon Kit
Liu Yongping
COMPLIANCE ADVISOR
Messis Capital Limited
AUTHORISED REPRESENTATIVES
Shum Ngai Pan
Tsang Wai Wa
COMPANY SECRETARY
Tsang Wai Wa
AUDIT COMMITTEE
Wong Hon Kit (Chairman)
Liang Yichi
Liu Yongping
REMUNERATION COMMITTEE
Wong Hon Kit (Chairman)
Liu Yongping
Shum Ngai Pan
Corporate Information 公司资料
Corporate Information
万嘉集团控股有限公司
提名及企业管治委员会
注册办事处
Cricket Square
Hutchins Drive, P.O. Box 2681
Grand Cayman
Cayman Islands
总办事处及香港主要营业地点
英皇道101号
19楼1902室
主要股份过户登记处
Royal Bank of Canada Trust Company
(Cayman) Limited
4th Floor, Royal Bank House,
24 Shedden Road, George Town,
Grand Cayman KY1-1110,
Cayman Islands
香港股份过户登记分处
卓佳登捷时有限公司
皇后大道东183号
合和中心22楼
NOMINATION AND CORPORATE
GOVERNANCE COMMITTEE
Liang Yichi
Wong Hon Kit
Liu Yongping
REGISTERED OFFICE
Cricket Square
Hutchins Drive, P.O. Box 2681
Grand Cayman
Cayman Islands
HEAD OFFICE AND PRINCIPAL PLACE OF
BUSINESS IN HONG KONG
Room 1902, 19th Floor
101 King’s Road
PRINCIPAL SHARE REGISTRAR AND
TRANSFER OFFICE
Royal Bank of Canada Trust Company
(Cayman) Limited
4th Floor, Royal Bank House,
24 Shedden Road, George Town,
Grand Cayman KY1-1110,
Cayman Islands
HONG KONG BRANCH SHARE REGISTRAR
AND TRANSFER OFFICE
Tricor Tengis Limited
Level 22, Hopewell Centre
183 Queen’s Road East
Corporate Information
WANJIA GROUP HOLDINGS LIMITED
ANNUAL REPORT
主要往来银行
交通银行股份有限公司
毕打街20号
国卫会计师事务所有限公司
香港执业会计师
毕打街11号
告罗士打大厦31楼
PRINCIPAL BANKERS
Bank of Communications Co., Limited
20 Pedder Street
Central, Hong Kong
HLB Hodgson Impey Cheng Limited
Certified Public Accountants
31/F, Gloucester Tower
The Landmark
11 Pedder Street
Central, Hong Kong
STOCK CODE
Management’s Statement
管理层报告
万嘉集团控股有限公司
本人谨代表万嘉集团控股有限公司（ 「 本公司」）
之董事会（ 「 董事会」），欣然提呈本公司及其附
属公司（ 统称「 本集团」）截至二零一五年三月
三十一日止年度之经审核财务业绩。
於二零一三年十月十一日，本公司从华夏医疗
集团有限公司（ 「 华夏」）分拆并以介绍形式於
香港联合交易所有限公司（ 「 联交所」）主板上
本集团继续专注於在中华人民共和国（ 「 中国」）
经营药品批发及分销业务以及药品零售连锁业
本集团拥有位於中国福建省之分销网络为我们
带来广大之客户群。本集团向主要位於福建省
之客户分销药品，并同时於邻近省份销售药品。
截至二零一五年三月三十一日止年度，药品批
发及分销业务产生之总收益约为1,346,925,000
港元，较二零一四年减少约27.52%。
本集团亦透过入账为本集团附属公司之一之福
建惠好四海医药连锁有限责任公司经营药品
零售业务。本集团已在中国福建省建立零售网
络。於二零一五年三月三十一日，本集团在中
国福建省六个地级市，以「 惠好四海」 之品牌名
称直接经营119间（ 二零一四年：111间）零售
On behalf of the board of directors (the “Board”) of Wanjia
Group Holdings Limited (the “Company”), I am pleased to
present the audited financial results of the Company and its
subsidiaries (collectively referred to as the “Group”) for the year
ended 31 March 2015.
BUSINESS REVIEW
On 11 October 2013, the Company was spun-off from Hua Xia
Healthcare Holdings Limited (“Hua Xia”) and listed on the Main
Board of The Stock Exchange of Hong Kong Limited (the “Stock
Exchange”) by way of introduction.
The Group continued to focus on pharmaceutical wholesales and
distribution business and pharmaceutical retail chain business in
the People’s Republic of China (the “PRC”).
Our Group has a large and broad customer base through our
distribution network in Fujian Province in the PRC. Our Group
distributes pharmaceutical products to our customers located
principally in the Fujian Province and also sells pharmaceutical
products in neighboring provinces. Total revenue generated from
pharmaceutical wholesales and distribution business for the year
ended 31 March 2015 was approximately HK$1,346.925 million,
representing a decrease of approximately 27.52% as compared to
Our Group also operates pharmaceutical retail business through
Fujian Huihao Sihai Pharmaceutical Chain Company Limited#（ 福建
惠好四海医药连锁有限责任公司） which was accounted for as one
of our subsidiaries. We have an established retail network in Fujian
Province in the PRC. As at 31 March 2015, we directly operated
119 () retail pharmacies in six prefectural C level districts
of the Fujian Province in the PRC under the brand name “Huihao
# English translations of official Chinese names are for identification
purpose only
# 中文官方名称之英文翻译乃仅供识别
Management’s Statement 管理层报告
Management’s Statement
管理层报告
WANJIA GROUP HOLDINGS LIMITED
ANNUAL REPORT
截至二零一五年三月三十一日止年度，药品零
售业务贡献之营业额约为220,762,000港元，较
二零一四年减少约7.28%。
年内，与二零一四年之约2,096,455,000港元
相比较，本集团於本年度之营业额合共约为
1,567,687,000港元，较去年减少约25.22%。
本集团之毛利约为159,845,000港元，而二零
一四年则为189,464,000港元。本公司拥有人应
占净亏损约为772,949,000港元，而二零一四年
则为溢利48,920,000港元。
本集团管理层意识到中国食品和药品管理局实
施之新质量管理规范（ 「 新质量管理规范」）既
为一种挑战，亦为本集团继续透过经改进之服
务及优质产品满足市场及公众需求之潜在机
因於二零一四年於中国福建省颁布及实施新质
量管理规范，而对药品分销商业务施加严格规
管并因本集团之并非新质量管理规范项下之
合资格企业之大多数现有分销商已淡出该行业
而导致集团之药品批发业务大幅减少。此对於
本集团而言既为一种挑战，亦为其带来潜在机
遇。此外，由於集团之现有直接销售分销设施
限制，此令其无法应付覆盖该等现有分销商客
户之分销销售业务中之所有市场份额。然而，此
亦为本集团之一个潜在机遇，因为於二零一四
年八月，福建省食品药品监督管理局已颁布十
个获准於二零一六年之後从事向公立医院及公
众医疗机构进行分销业务之公司，其中本公司
The turnover contributed by the pharmaceutical retail business for
the year ended 31 March 2015 was approximately HK$220.762
million, representing a decrease of approximately 7.28% as
compared to 2014.
FINANCIAL REVIEW
During the year, total turnover of the Group for the year
was approximately HK$1,567.687 million in comparison with
approximately HK$2,096.455 million in 2014, representing a
decrease of approximately 25.22% compared with last year. The
gross profit of the Group was approximately HK$159.845 million
in comparison with HK$189.464 million in 2014. The net loss
attributable to the owners of the Company was approximately
HK$772.949 million in comparison with profit of HK$48.920
million in 2014.
The management of the Group has realised that the new Good
Supply Practice (“New GSP”) implemented by the China Food
and Drug Administration is a challenge as well as a potential
opportunities for the Group to continue to address the needs of
the market and the public through refined services and quality
It is a challenge as well as a potential opportunities for the group
because the promulgation and implementation of the new Good
Supply Practice in Fujian, the PRC in 2014 imposes stringent
regulations on pharmaceutical distributor operation which caused
significant decrease in pharmaceutical wholesales business of
the group on the ground that majority of the existing distributor
customers of the group who are not qualified enterprises
under the new Good Supply Practice were walked out from the
sector. Also, due to the constraint of the existing direct sale
distribution facilities of the group, it is unable to cater for all the
market shares on distribution sale business which are covered
by those existing distributor customers. Nevertheless, it is also a
potential opportunities for the group because in August 2014,
Fujian Food and Drug Administration#（ 福建省食品药品监督
管理局） announced that 10 companies which are permitted to
Management’s Statement
管理层报告
万嘉集团控股有限公司
之营运附属公司福建省福州市惠好药业有限公
司名列其中。国家及地方层面之药品市场整合
持续，从而为如本集团之具有大型营运规模之
公司提供良机及本集团将积极寻求由因新质量
管理规范所带来的持续医疗改革提供进一步发
展的机会。於二零一五年u一六年度，本集团
将同时继续加强医院药品交付及批发分部之业
务及扩张零售药店。
本人谨代表董事会对管理团队及员工为本集
团稳健发展作出之不懈努力致以诚挚感谢。此
外，本人亦对全体股东、业务夥伴及客户之持
续支持表示感谢。本集团将继续全力以赴，为
所有相关人士取得丰厚回报。
香港，二零一五年六月二十九日
conduct the business in the distribution to public hospitals and
public healthcare institutions after 2016, in which the operating
subsidiary of the Company, namely（ 福建省福州市惠好药业有限
公司） Fujian Province Funzhou City Huihao Pharmaceutical Co.
Limited# is on the list. The pharmaceutical market consolidation
has continued at national and local level providing opportunities
for companies with large scale operations like the Group and our
group would actively look for further development opportunities
made available by the continued healthcare reform arisen from
the New GSP. We will also continue further strengthen our drug
delivery to hospitals and wholesales segments business and
expansion of retails pharmacies in the year 2015/16.
APPRECIATION
On behalf of the Board, I would like to express my sincere
gratitude to the management team and staff for their tireless
dedicated that helps fuel the Group’s healthy development. In
addition, I would also like to thank all our shareholders, business
partners and customers for their continuous support. We will
continue to devote unwavering efforts to reap promising returns
for all parties.
Chen Jinshan
Executive Director
Hong Kong, 29 June 2015
# English translations of official Chinese names are for identification
purpose only
# 中文官方名称之英文翻译乃仅供识别
Management Discussion and Analysis
管理层讨论及分析
WANJIA GROUP HOLDINGS LIMITED
ANNUAL REPORT
本集团截至二零一五年三月三十一日止财政年
度之业绩概要如下：
总营业额约为1,567,687,000港元（ 二零
一四年：约2,096,455,000港元），较二零
一四年减少约25.22%，减少乃主要因於
二零一四年实施新质量管理规范而受药
品批发及分销分类之销售影响所致。
毛 利 约 为159,845,000港 元（ 二 零 一 四
年：约189,464,000港元），较二零一四年
减少约15.63%。
经 营 亏 损 约 为756,511,000港 元（ 二 零
一四年：溢利约80,196,000港元）。本年
度 录 得 净 亏 损 乃 主 要 由 於 撇 销 商 誉 约
785,169,000港元所致。倘撇除该影响，
本集团录得经营溢利约28,658,000港元，
尽管其较去年度减少约64.27%。
本 公 司 拥 有 人 应 占 净 亏 损 约 为
772,949,000港元（ 二零一四年：溢利约
48,920,000港元）。
本 集 团 於 二 零 一 五 年 三 月 三 十 一 日 之
总现金及现金等值项目约为43,029,000
港 元（二 零 一 四 年 三 月 三 十 一 日：约
43,638,000港元）。
董事会并不建议就截至二零一五年三月
三十一日止年度派发末期股息（ 二零一四
年：无）。
FINANCIAL HIGHLIGHTS
Summary of the results of the Group for the financial year ended
31 March 2015 is as follows:
Total turnover was approximately HK$1,567.687 million
(2014: approximately HK$2,096.455 million), representing
approximately 25.22% of decrease over 2014. The decrease
in turnover was mainly driven by the sales from the
pharmaceutical wholesales and distribution segment due to
the implementation of the New GSP in 2014.
Gross profit was approximately HK$159.845 million
(2014: approximately HK$189.464 million), representing
approximately 15.63% of decrease over 2014.
The operating loss was approximately HK$756.511 million
(2014: profit of approximately HK$80.196 million). Net
loss for the year was mainly due to the written off of the
goodwill of approximately HK$785.169 million. If such effect
was taken out, the Group recorded a profit from operation
of approximately HK$28.658 million though it was an
approximately 64.27% decrease as compared to last year.
Net loss attributable to owners of the Company was
approximately HK$772.949 million (2014: profit of
approximately HK$48.920 million).
The Group had total cash and cash equivalents of
approximately HK$43.029 million as at 31 March 2015 (31
March 2014: approximately HK$43.638 million).
The board does not recommend the payment of a final
dividend for the year ended 31 March : Nil).
Management Discussion and Analysis 管理层讨论及分析
Management Discussion and Analysis
管理层讨论及分析
万嘉集团控股有限公司
於二零一三年十月十一日，本公司从华夏医疗
集团有限公司（ 「 华夏」）分拆并以介绍形式於
香港联合交易所有限公司（ 「 联交所」）主板上
本集团继续专注於在中华人民共和国（ 「 中国」）
经营药品批发及分销业务以及药品零售连锁业
回顾二零一四年u一五年，本集团之收益减
少。截至二零一五年三月三十一日止年度，
本集团录得收益约1,567,687,000港元（ 二零
一四年：约2,096,455,000港元），较去年减少
约25.22%。本集团之毛利率约为10%，维持在
与二零一四年之相若水平。
药品批发及分销业务
本集团拥有位於中国福建省之分销网络为我们
带来广大之客户群。本集团向主要位於福建省
之客户分销药品，并同时於广东、湖南、湖北、
江西、安徽及浙江等邻近省份销售药品。我们
之客户可分为三种类型，即医院及医疗机构、
分销商客户及终端客户，例如经营药品零售连
锁店之公司、独立药店、社区医院之门诊部、医
疗保健服务站及诊所。药品批发及分销业务产
生之营业额约为1,346,925,000港元（ 二零一四
年：约1,858,355,000港元），较二零一四年减
少约27.52%及占本集团营业额约85.92%。该
增加主要因分销网络及产品组合扩大所致。减
少乃主要由於颁布及实施新质量管理规范後因
严格监管导致向分销商客户销售减少所致。
BUSINESS REVIEW
On 11 October 2013, the Company was spun-off from Hua Xia
Healthcare Holdings Limited (“Hua Xia”) and listed on the Main
Board of The Stock Exchange of Hong Kong Limited (the “Stock
Exchange”) by way of introduction.
The Group continues to focus on pharmaceutical wholesales and
distribution business and pharmaceutical retail chain business in
the People’s Republic of China (the “PRC”).
Looking back at 2014/15, the Group’s revenue experienced
a decrease. The Group recorded revenue of approximately
HK$1,567.687 million (2014: approximately HK$2,096.455
million) for the year ended 31 March 2015, accounting for a
decrease of approximately 25.22% over last year. The gross profit
margin of the Group was approximately 10%, which maintained
at a similar level as in 2014.
Pharmaceutical wholesale and distribution business
The Group has a large and broad customer base through our
distribution network in Fujian Province in the PRC. The Group
distributes pharmaceutical products to our customers located
principally in the Fujian Province and also sells pharmaceutical
products in neighboring provinces such as Guangdong, Hunan,
Hubei, Jiangxi, Aunhui and Zhejiang. Our customers can be
categorized into three types namely hospitals and healthcare
institutions, distributor customers and end customers such
as companies operating pharmaceutical retail chain stores,
independent pharmacies, and outpatient departments of
community hospitals, healthcare service stations and clinics.
The turnover generated from the pharmaceutical wholesale and
distribution business amounted to approximately HK$1,346.925
million (2014: approximately HK$1,858.355 million), representing
approximately 27.52% of decrease over 2014 and accounted for
approximately 85.92% of the Group’s turnover. The decrease
was mainly attributable to the reduction in sales to distributor
customers due to the stringent regulations after the promulgation
and implementation of the New GSP.
Management Discussion and Analysis
管理层讨论及分析
WANJIA GROUP HOLDINGS LIMITED
ANNUAL REPORT
药品零售连锁业务
本集团透过入账为本集团附属公司之一之福建
惠好四海医药连锁有限责任公司经营药品零
售业务。本集团之零售药店提供各种产品，包
括处方药、非处方药、保健食品、传统中药、医
疗用品及医疗器械。於二零一五年三月三十一
日，本集团营运119间（ 二零一四年：111间）
零售药店。本集团力求引进新产品和服务以
满足客户不断变化之喜好，并使本集团在竞争
对手中脱颖而出。药品零售连锁业务产生之
营业额约为220,762,000港元（ 二零一四年：
约238,100,000港元），较二零一四年减少约
由於实施新质量管理规范的影响并不明确，因
此於中国福建省只开设8间新零售药店。我们会
密切留意新质量管理规范的进一步发展，稳步
地开设零售药店。
截至二零一五年三月三十一日止年度，其他收
益（ 主要包括杂项收入、银行利息收入、展会收
入及租金收入）约为6,379,000港元（ 二零一四
年：约7,543,000港元）。
Pharmaceutical retail chain business
The Group operates pharmaceutical retail business through Fujian
Huihao Sihai Pharmaceutical Chain Company Limited#（ 福建惠
好四海医药连锁有限责任公司） which was accounted for as one
of our subsidiaries. The Group offers a wide variety of products
in our retail pharmacies including prescription medicines, overthe-counter medicines, healthcare food products, traditional
Chinese medicines, medical supplies and medical devices. As
at 31 March
() retail pharmacies were
operated. The Group seeks to introduce new products and services
to meet changing customer preferences and to differentiate
the Group from our competitors. The turnover generated from
pharmaceutical retail chain business amounted to approximately
HK$220.762 million (2014: approximately HK$238.100 million),
representing approximately 7.28% of decrease over 2014.
Because the effect of the implementation of the New GSP is
uncertain, only 8 new retail pharmacies are being opened in
Fujian Province in the PRC. We would closely monitor the further
development of the new GSP and open our retail pharmacies
Other revenue
Other revenue, primarily including sundry income, bank interest
income, exhibition income and rental income amounted to
approximately HK$6.379 million (2014: approximately HK$7.543
million) for the year ended 31 March 2015.
# English translations of official Chinese names are for identification
purpose only
# 中文官方名称之英文翻译乃仅供识别
Management Discussion and Analysis
管理层讨论及分析
万嘉集团控股有限公司
Selling and distribution expenses
Selling and distribution expenses primarily consisted of salaries
paid to sales and marketing personnel and rental expenses of
retail pharmacies. For the year ended 31 March 2015, selling and
distribution expenses amounted to approximately HK$90.590
million (2014: approximately HK$70.524 million), representing
an increase of approximately 28.45% over the last year. The
increase in the expenses was due to the increase in the number of
subsidiaries and retail pharmacies during the year.
Administrative expenses
Administrative expenses for the year ended 31 March 2015
amounted to approximately HK$46.854 million (2014:
approximately HK$47.033 million), representing a slightly decrease
of approximately 0.38% over last year. However, by excluding
the expenses incurred for the listing of Company’s shares on the
Main Board of the Stock Exchange last year, the administrative
expenses incurred last year was approximately HK$42.278 million.
The administrative expenses for the year ended 31 March 2015
represented an increase of approximately 10.82% over the last
year. More administrative expenses incurred mainly due to the
expansion of the business scale.
Finance costs
For the year ended 31 March 2015, the finance costs of the
Group were approximately HK$8.819 million (2014: approximately
HK$6.015 million), representing a significant increase of
approximately 46.62% over the last year. The increase was mainly
due to increased average outstanding amounts of bank loans
during the year.
销售及分销费用
销售及分销费用主要包括支付予销售及市场
营销人员之薪金及零售药店之租金开支。截至
二零一五年三月三十一日止年度，销售及分
销费用约为90,590,000港元（ 二零一四年：约
70,524,000港元），较去年增加约28.45%。费
用增加乃由於年内附属公司及零售药店数目均
增加所致。
截 至 二 零 一 五 年 三 月 三 十 一 日 止 年 度 之 行
政开 支约 为46,854,000港元（ 二 零 一 四 年：
约47,033,000港 元 ），较 去 年 轻 微 减 少 约
0.38%。然而，倘不计及本公司股份去年於联
交所主板上市产生之开支，去年产生之行政
开支约为42,278,000港元，截至二零一五年三
月三十一日止年度之行政开支较去年增加约
10.82%。产生更多行政开支乃主要由於业务
规模扩大所致。
截至二零一五年三月三十一日止年度，本集
团之财务费用约为8,819,000港元（ 二零一四
年：约6,015,000港 元），较 去 年 大 幅 增 加 约
46.62%。该增幅主要由於年内平均尚未偿还
银行贷款金额增加所致。
Management Discussion and Analysis
管理层讨论及分析
WANJIA GROUP HOLDINGS LIMITED
ANNUAL REPORT
Loss attributable to owners of the Company
The Group recorded a loss attributable to owners of the
Company of approximately HK$772.949 million (2014: profit
of approximately HK$48.920 million) during the year ended 31
March 2015.
The net loss was mainly attributable to the impairment loss on the
goodwill of approximately HK$785.169 million.
In August 2014, Fujian Food and Drug Administration#（ 福建省
食品药品监督管理局） announced the 10 companies which are
permitted to conduct the business in the distribution to public
hospitals and public healthcare institutions after 2016, in which
the operating subsidiary of the Company, namely（ 福建省福
州市惠好药业有限公司） Fujian Province Fuzhou City Huihao
Pharmaceutical Co. Limited# is on the list. Notwithstanding this
recognition as a qualified participant in the distribution industry
is encouraging, the effect of the implementation of the New GSP
and any future policy development on the hospital distribution
business of the Group remains uncertain. Having taken into
account the financial performance as of June 2014, the Board
reviewed again the potential effects of the New GSP on the
distribution business in late July 2014 and prudently lowered
the forecasted performance in sales to distributor customers,
therefore, it triggers impairment loss on the goodwill. The carrying
amount of goodwill was tested for impairment as at 30 June
2014. The impairment test compared the discounted cash flow of
the cash-generating units (CGUs) to the carrying amounts of the
CGUs. The recoverable amounts of the CGUs were significantly
less than the carrying value of goodwill, therefore, an impairment
loss on the goodwill of approximately HK785.169 million was
made in the year under review.
本公司拥有人应占亏损
於截至二零一五年三月三十一日止年度内，本
集团录得本公司拥有人应占亏损约772,949,000
港元（ 二零一四年：溢利约48,920,000港元）。
净 亏 损 乃 主 要 由 於 商 誉 之 减 值 亏 损 约
785,169,000港元所致。
於二零一四年八月，福建省食品药品监督管理
局公布10间获准於二零一六年後进行向公立医
院及公共医疗机构分销药物业务之公司，而本
公司之经营附属公司福建省福州市惠好药业有
限公司名列其中。尽管获认可为分销行业之合
资格参与者令人鼓舞，惟实施新质量管理规范
之影响及对本集团之医院分销业务之任何政策
发展仍不明朗。经计及於二零一四年六月之财
务表现，董事会於二零一四年七月底再度审阅
新质量管理规范对分销行业之潜在影响，并审
慎降低向分销商客户销售之预测表现，因此，其
触发商誉减值亏损。商誉之账面值於二零一四
年六月三十日已进行减值测试。减值测试已比
较现金产生单位（ 现金产生单位） 与现金产生
单位账面值之折现现金流量。现金产生单位之
可收回金额大幅低於商誉之账面值，因此，於
回顾年度录得商誉减值亏损约为785,169,000
# English translations of official Chinese names are for identification
purpose only
# 中文官方名称之英文翻译乃仅供识别
Management Discussion and Analysis
管理层讨论及分析
万嘉集团控股有限公司
OUTLOOK AND FUTURE PROSPECTS
The management of the Group has realised that the New GSP
is a challenge as well as a potential opportunities for the Group
to continue to address the needs of the market and the public
through refined services and quality products.
It is a challenge as well as a potential opportunities for the
group because the promulgation and implementation of the
new Good Supply Practice in Fujian, the PRC in 2014 imposes
stringent regulations on pharmaceutical distributor operation
which caused decrease in pharmaceutical wholesales business of
the group on the ground that majority of the existing distributor
customers of the group who are not qualified enterprises
under the new Good Supply Practice were walked out from the
sector. Also, due to the constraint of the existing direct sale
distribution facilities of the group, it is unable to cater for all the
market shares on distribution sale business which are covered
by those existing distributor customers. Nevertheless, it is also a
potential opportunities for the group because in August 2014,
Fujian Food and Drug Administration#（ 福建省食品药品监督
管理局） announced that 10 companies which are permitted to
conduct the business in the distribution to public hospitals and
public healthcare institutions after 2016, in which the operating
subsidiary of the Company, namely Fujian Province Funzhou City
Huihao Pharmaceutical Co. Limited#（ 福建省福州市惠好药业有限
公司） is on the list.
The pharmaceutical market consolidation has continued at
national and local level providing opportunities for companies
with large scale operations like the Group. At the same time,
competition among the industry is keen. Our group would actively
look for further development opportunities made available by the
continued healthcare reform arisen from the New GSP. We will
also continue further strengthen our drug delivery to hospitals and
wholesales segments business and expansion of retails pharmacies
in the year 2015/16.
# English translations of official Chinese names are for identification
purpose only
# 中文官方名称之英文翻译乃仅供识别
前景及未来展望
本集团管理层意识到新质量管理规范既为一种
挑战，亦为本集团继续透过经改进之服务及优
质产品满足市场及公众需求之潜在机遇。
因於二零一四年於中国福建省颁布及实施新质
量管理规范，而对药品分销商业务施加严格规
管并因本集团之并非新质量管理规范项下之合
资格企业之大多数现有分销商已淡出该行业而
导致集团之药品批发业务减少。此对於本集团
而言既为一种挑战，亦为其带来潜在机遇。此
外，由於集团之现有直接销售分销设施限制，
此令其无法应付覆盖该等现有分销商客户之分
销销售业务中之所有市场份额。然而，此亦为
本集团之一个潜在机遇，因为於二零一四年八
月，福建省食品药品监督管理局已颁布十个获
准於二零一六年之後从事向公立医院及公众医
疗机构进行分销业务之公司，其中本公司之营
运附属公司福建省福州市惠好药业有限公司名
国家及地方层面之药品市场整合持续，从而为
如本集团之具有大型营运规模之公司提供良
机。与此同时，行业中的竞争激烈。本集团将积
极寻求由因新质量管理规范所带来的持续医疗
改革提供进一步发展的机会。於二零一五年u
一六年度，本集团将同时继续加强医院药品交
付及批发分部之业务及扩张零售药店。
Management Discussion and Analysis
管理层讨论及分析
WANJIA GROUP HOLDINGS LIMITED
ANNUAL REPORT
LIQUIDITY AND FINANCIAL RESOURCES
The Group had total cash and cash equivalents of approximately
HK$43.029 million as at 31 March : approximately
HK$43.638 million). The Group recorded total current assets of
approximately HK$618.170 million as at 31 March :
approximately HK$621.814 million) and total current liabilities of
approximately HK$372.296 million as at 31 March :
approximately HK$386.996 million). The current ratio of the
Group, calculated by dividing the current assets by the current
liabilities, was approximately 1.660 as at 31 March :
approximately 1.607).
As at 31 March 2015, the Group’s gearing ratio was
approximately 28.65% based on outstanding debts (comprising
bank borrowings) less cash and cash equivalents over total equity
(including all capital and reserves attributable to owners of the
Company) (2014: approximately 4.25%).
CAPITAL COMMITMENTS
As at 31 March 2015 and 2014, the Group had no material capital
commitment.
ACQUISITION OF SUBSIDIARIES
Save for the Group Reorganisation as described in note 2 to the
consolidated financial statements and those described in the
Listing Document, during the year ended 31 March 2015, there
were acquisition of subsidiaries as follows:
流动资金及财务资源
本 集 团 於 二 零 一 五 年 三 月 三 十 一 日 之 总 现
金及现金等值项目约为43,029,000港元（ 二
零 一 四 年：约43,638,000港 元）。本 集 团 於
二 零 一 五 年 三 月 三 十 一 日 录 得 流 动 资 产
总 值 约618,170,000港 元（二 零 一 四 年：约
621,814,000港元），以及於二零一五年三月
三十一日录得流动负债总额约372,296,000港
元（ 二零一四年：约386,996,000港元）。本集
团於二零一五年三月三十一日之流动比率（ 按
流动资产除以流动负债计算）约为1.660 （ 二零
一四年：约1.607）。
於二零一五年三月三十一日，本集团根据尚未
偿还债务（ 包括银行借款）减现金及现金等值
项目除以总权益（ 包括本公司拥有人应占所有
资本及储备）计算之资产负债比率约为28.65%
（ 二零一四年：约4.25%）。
於二零一五年及二零一四年三月三十一日，本
集团并无重大资本承担。
收购附属公司
除综合财务报表附注2所述之集团重组及上市
文件所述者外，於截至二零一五年三月三十一
日止年度内，本公司收购附属公司如下：
Management Discussion and Analysis
管理层讨论及分析
万嘉集团控股有限公司
On 9 April 2014, Fujian Province Fuzhou City Huihao
Pharmaceutical Co. Limited# (“Fuzhou Huihao”), a wholly
owned subsidiary (the “Purchaser”) and Hui Hao Yi Yao (Xiamen)
Company Limited# (formerly name as Xiamen Hui Sheng Yi Yao
Company Limited) (“Xiamen Huihao”), a PRC pharmaceutical
wholesale and distribution corporation, entered into an
arrangement agreement in relation to the conditional acquisition
60% of net assets value of Xiamen Huihao (the “Proposed
Acquisition”) by the Purchaser. The consideration of acquisition
is approximately RMB4.945 million (equivalent to approximately
HK$6.204 million). Upon completion of the Proposed Acquisition
on 21 April 2014, Xiamen Huihao became a 60% owned
subsidiary of the Purchaser.
In June 2014, Fujian Province Fuzhou City Huihao Pharmaceutical
Co. Limited# (“Fuzhou Huihao”), a wholly owned subsidiary (the
“Purchaser”) and Hui Hao Yi Yao (Nanping) Company Limited
(formerly name as Fu Jian Sheng Heng Chang Yao Ye Company
Limited) (“Nanping Huihao”), a PRC pharmaceutical wholesale
and distribution corporation, entered into an arrangement
agreement in relation to the conditional acquisition 60% of net
assets value of Nanping Huihao (the “Proposed Acquisition”) by
the Purchaser. The consideration of acquisition is approximately
RMB7.5 million (equivalent to approximately HK$9.452 million).
Upon completion of the Proposed Acquisition on 15 June
2014, Nanping Huihao became a 60% owned subsidiary of the
Purchaser.
After the acquisitions, the Company had engaged an independent
qualified professional valuer to measure the fair value of the
property, plant and equipment on the completion date. All the
goodwill arising from the above acquisitions has been reflected in
the Company’s financial statement ended 31 March 2015.
於二零一四年四月九日，一间全资附属公司福
建省福州市惠好药业有限公司（ 「 福州惠好」）
（ 「 买方」）与一间中国药品批发及分销公司惠
好医药（ 厦门）有限公司（ 前称为厦门晖晟医药
有限公司）（ 「 厦门惠好」）订立安排协议，内容
有关买方有条件收购厦门惠好之60%资产净值
（ 「 建议收购事项」）。收购事项之代价约为人民
币4,945,000元（ 相当於约6,204,000港元）。於
二零一四年四月二十一日完成建议收购事项
後，厦门惠好将成为由买方拥有60%权益之附
於二零一四年六月，一间全资附属公司福建省
福州市惠好药业有限公司（ 「 福州惠好」）（ 「 买
方」）与一间中国药品批发及分销公司惠好医
药（ 南平）有限公司（ 前称为福建省恒昌药业
有限公司）（ 「 南平惠好」）订立安排协议，内容
有关买方有条件收购南平惠好之60%资产净值
（ 「 建议收购事项」）。收购事项之代价约为人民
币7,500,000元（ 相当於约9,452,000港元）。於
二零一四年六月十五日完成建议收购事项後，
南平惠好将成为由买方拥有60%权益之附属公
於收购事项後，本公司已委聘独立合资格专业
估值师计量物业、厂房及设备於完成日期之公
平值。上述收购事项所产生之所有商誉已於本
公司截至二零一五年三月三十一日止之财务报
表内反映。
# English translations of official Chinese names are for identification
purpose only
# 中文官方名称之英文翻译乃仅供识别
Management Discussion and Analysis
管理层讨论及分析
WANJIA GROUP HOLDINGS LIMITED
ANNUAL REPORT
於二零一五年及二零一四年三月三十一日，本
集团成员公司概无涉及任何重大诉讼或仲裁，
且就董事所知，本集团任何成员公司亦无尚未
了结或可能面临威胁之重大诉讼或索偿。
由於本集团绝大部份交易均以人民币及港元
计价，而大部分银行存款均以人民币及港元存
置，藉此尽量减低外汇风险，故董事认为本集
团之外汇波动风险极微。
因此，年内，本集团并无实施任何正式对冲或
其他替代政策以应付有关风险。
本集团资产抵押
於 二 零 一 五 年 三 月 三 十 一 日，本 集 团 之 尚
未 偿 还 银 行 借 款 结 余 及 应 付 票 据 分 别 约 为
121,454,000港元及18,697,000港元。本集团
之已抵押银行存款、预付租赁款项及投资物
业分别约12,970,000港元、4,530,000港元及
8,093,000港元已被抵押作抵押品以担保授予
本集团之银行融资。
年内，本集团之收益主要来自：於中国之(1)药
品批发及分销业务及(2)药品零售连锁业务。有
关该等业务之财务资料载於综合财务报表附
CONTINGENT LIABILITIES
As at 31 March 2015 and 2014, no member of the Group was
engaged in any litigation or arbitration of material importance and
no litigation or claim of material importance was known to the
directors to be pending or threatened against any member of the
FOREIGN EXCHANGE RISK
Since almost all transactions of the Group are denominated in
Renminbi and Hong Kong dollars and most of the bank deposits
are being kept in Renminbi and Hong Kong dollars to minimize
exposure to foreign exchange risk, the directors consider that the
Group’s risk exposure to currency fluctuations to be minimal.
Therefore, the Group had not implemented any formal hedging
or other alternative policies to deal with such exposure during the
CHARGES ON GROUP’S ASSETS
As at 31 March 2015, the Group had bank borrowings
outstanding balances and bill payables of approximately
HK$121.454 million and HK$18.697 million respectively. The
Group’s pledged bank deposits, prepaid lease payments and
investment properties of approximately HK$12.970 million,
HK$4.530 million and HK$8.093 million respectively, were pledged
as collateral to secure banking facilities granted to the Group.
SEGMENT INFORMATION
During the year, the revenue of the Group was principally
generated from: (1) pharmaceutical wholesale and distribution
business and (2) pharmaceutical retail chain business in PRC.
Financial information in respect of these operations is presented in
Note 8 to the consolidated financial statements.
Management Discussion and Analysis
管理层讨论及分析
万嘉集团控股有限公司
於 二 零 一 五 年 三 月 三 十 一 日，本 公 司 之 已
发 行 股 本 总 额 约 为6,484,000港 元，相 当 於
648,405,300股 普 通 股。於 二 零 一 三 年 三 月
三十一日，本集团之股本相当於重组完成前本
公司、茂加环球投资有限公司及时雄企业有限
公司之已发行股本。
雇员及薪酬政策
於二零一五年三月三十一日，本集团聘有1,046
名（ 二零一四年：1,176名）全职雇员（ 包括董
事），详情载於下表：
截至二零一五年三月三十一日止年度，员工成
本（ 包括董事酬金）约为71,278,000港元（ 二零
一四年：约60,670,000港元）。本集团根据雇员
之个别表现及资历厘定雇员薪酬。除基本薪酬
外，於香港之员工福利亦包括强制性公积金计
划供款、酌情花红及医疗保险，而中国内地员
工则享有基本长者保险、基本医疗保险、工伤
保险及失业保险。
CAPITAL STRUCTURE
As at 31 March 2015, the total issued share capital of the
Company was approximately HK$6.484 million representing
648,405,300 ordinary shares. As at 31 March 2013, the share
capital of the Group represents the issued share capital of
the Company, Luxuriant Expand Global Investments Limited
and Timely Hero Enterprises Limited prior to completion of
Reorganisation.
EMPLOYEES AND REMUNERATION POLICY
As at 31 March 2015, the Group had 1,046 () full
time employees (including directors) as shown in the following
Number of Staff
员工人数 Location 地点
6 Hong Kong 香港
1,040 PRC 中国
For the year ended 31 March 2015, staff costs (including directors
emoluments) amounted to approximately HK$71.278 million
(2014: approximately HK$60.670 million). The Group remunerates
its employees based on individual performance and qualification.
Apart from the basic remuneration, staff benefits include
the contribution to the Mandatory Provident Fund Scheme,
discretionary bonus and medical coverage in Hong K and
basic insurance for the elderly, basic medical insurance, work
injury insurance and unemployment insurance to the employees in
Management Discussion and Analysis
管理层讨论及分析
WANJIA GROUP HOLDINGS LIMITED
ANNUAL REPORT
结算日後事项
於二零一五年五月十二日，惠好（ 香港）医药集
团有限公司（ 「 惠好（ 香港）」）、福州仁安医药
科技有限公司（ 「 仁安」）及福建省福州市惠好
药业有限公司（ 「 福州惠好」）订立合资协议，
据此，仁安同意向福州惠好之注册资本及资本
储备作出出资约人民币26,000,000元。增资构
成视作出售万嘉於福州惠好之股权并导致惠
好（ 香港） 於福州惠好之股权由100%摊薄至
75%，而福州惠好乃由惠好（ 香港）及仁安分别
持有75%及25%权益。
於二零一五年五月十四日，本公司与配售代理
订立配售协议，据此，本公司已有条件同意透
过配售代理按尽力基准以初步转换价每股转换
股份0.65港元配售本金总额最多为84,292,000
港元之可换股票据予承配人（ 「 配售事项」）。
按初步转换价每股转换股份0.65港元计算，於
可换股票据所附带之转换权获悉数行使後，将
配发及发行合共129,680,000股转换股份。配售
事项已於二零一五年六月一日完成。
SUBSEQUENT EVENTS
On 12 May 2015, Hui Hao (HK) Group Limited (“Huihao Hong
Kong”), Fuzhou Ren An Medical Technology Limited#（ 福州仁安
医药科技有限公司） (“Ren An”) and Fujian Province Fuzhou City
Huihao Pharmaceutical Co., Ltd (“Fuzhou Haihao”) entered into
the Joint Venture Agreement, pursuant to which Ren An agreed to
make a capital contribution of approximately RMB26 million to the
registered capital and the capital reserve of Fuzhou Huihao. The
Capital Increase constituted a deemed disposal of Wanjia’s equity
interest in the Fuzhou Huihao and resulted that the equity interest
of Huihao Hong Kong in Fuzhou Huihao was diluted from 100%
to 75% and the Fuzhou Huihao is held as to 75% by Huihao Hong
Kong and as to 25% by Ren An.
On 14 May 2015, the Company entered into the Placing
Agreement with the Placing Agent pursuant to which the
Company has conditionally agreed to place, through the Placing
Agent, on a best efforts basis, the Convertible Notes with principal
amounts aggregating up to HK$84,292,000 to the Placees at the
initial Conversion Price of HK$0.65 per Conversion Share (“the
Placing”). Based on the initial Conversion Price of HK$0.65 per
Conversion Share, a total of 129,680,000 Conversion Shares
will be allotted and issued upon exercise of the conversion
rights attaching to the Convertible Notes in full. The Placing was
completed on 1 June 2015.
# English translations of official Chinese names are for identification
purpose only
# 中文官方名称之英文翻译乃仅供识别
Directors’ and Senior Management’s Profiles
董事及高级管理人员简历
万嘉集团控股有限公司
翁加兴先生（ 「 翁先生」），39岁，於二零零四年
加入本集团，成为惠好（ 香港）医药集团有限公
司（ 「 惠好香港」）之主席，并於二零一二年七月
九日获委任为执行董事。彼负责在中国寻求投
资机会，制订业务策略及监管本集团之整体业
务营运。二零零七年十二月，厦门大学录取翁
先生入读二零零八届高级管理人员工商管理硕
士课程。翁先生在医药业务方面拥有不少於八
年管理经验。加入本集团前，翁先生自二零零
三年至二零零四年任福建惠好医药连锁有限公
司（ 「 福建惠好医药连锁」）之总经理，负责福建
惠好医药连锁之整体业务营运。翁先生於二零
零六年四月二十五日至二零零七年八月一日及
二零一零年三月二十六日至二零一二年十二月
二十八日期间曾任华夏医疗集团有限公司（ 「 华
夏」）之执行董事。翁先生为控股股东华夏之主
要股东兼执行董事翁国亮先生之侄儿，以及为
福建惠好药业有限公司（ 「 福建惠好公司」）及
福建惠好医药连锁之控股股东翁加乐先生之胞
兄，而彼等均为本集团若干租赁物业之业主，
除此之外，翁先生与其他股东及本公司董事均
无关连。除上文所披露者外，翁先生於过往三
年内并无於证券於香港或海外之任何证券市场
上市之任何其他公众公司担任任何董事职务。
EXECUTIVE DIRECTORS
Mr. Weng Jiaxing (“Mr. Weng”), aged 39, joined our Group
in 2004 as the Chairman of Hui Hao (HK) Group Limited (“Hui
Hao Hong Kong”) and was appointed as an executive Director
on 9 July 2012. He was responsible for exploring investment
opportunities in the PRC, formulating business strategies and
overseeing the entire business operation of our Group. Mr.
Weng was admitted to the 2008 Executive Master of Business
Administration (EMBA) course administered by Xiamen University
in December 2007. Mr. Weng has not less than 8 years of
managerial experience in pharmaceutical businesses. Prior to
joining our Group, Mr. Weng was the General Manager of Fujian
Huihao Pharmaceutical Chain Company Limited# (“FHP Chain”)
from 2003 to 2004 where he was responsible for the entire
business operation of FHP Chain. Mr. Weng had been an executive
director of Hua Xia Healthcare Holdings Limited (“Hua Xia”)
during the period from 25 April 2006 to 1 August 2007 and from
26 March 2010 to 28 December 2012. Save that Mr. Weng is a
nephew of Mr. Yung Kwok Leong, a substantial shareholder and
an executive director of Hua Xia, being a Controlling Shareholder,
and a brother of Mr. Weng Jiale（ 翁加乐） , the controlling
shareholder of Fujian Huihao Pharmaceutical Company Limited#
(“FHP Company”) and FHP Chain, both being landlords of certain
premises leased by our Group, Mr. Weng is not related to other
Shareholders and our Directors. Save as disclosed above, Mr.
Weng did not hold any directorship in any other public companies
the securities of which are listed on any securities market in Hong
Kong or overseas in the last three years.
Directors’ and Senior Management’s Profiles 董事及高级管理人员简历
# English translations of official Chinese names are for identification
purpose only
# 中文官方名称之英文翻译乃仅供识别
Directors’ and Senior Management’s Profiles
董事及高级管理人员简历
WANJIA GROUP HOLDINGS LIMITED
ANNUAL REPORT
陈勇先生（ 「 陈先生」），44岁，於二零零六年
七月加入本集团，成为惠好香港之总裁办公室
主任，并於二零一二年九月四日获委任为执行
董事。於二零零八年五月，陈先生成为福建惠
好四海医药连销有限公司（ 「 惠好四海」）之董
事总经理，负责该公司之整体营运及管理。彼
於二零一一年六月成为本集团副主席，持有上
海复旦大学之工商管理硕士学位。加入本集团
前，陈先生於二零零二年十月八日至二零零五
年十二月五日任上海张江新希望企业有限公司
董事总经理助理兼投资开发部经理，负责协助
董事总经理制定业务营运之方向及目标，以及
管理投资项目。
翁嘉晋先生（ 「 翁嘉晋先生」），26岁，於美国马
利兰大学学院市分校（ Maryland, College Park）
取得商业理学硕士学位，主修会计。翁嘉晋先生
为华夏医疗集团有限公司（ 股份代号：8143，
其股份於创业板（ 「 创业板」）上市）之主要股东
翁国亮先生之儿子，而华夏医疗集团有限公司
为本公司之主要股东。
陈金山先生（ 「 陈金山先生」），47岁，持有金融
及会计学士学位。陈金山先生拥有逾15年会计
经验，并曾於一间会计公司担任项目经理逾6
年。陈金山先生於二零零六年四月二十五日至
二零一四年十月十日期间为华夏（ 其股份於联
交所创业板上市）之执行董事。
沈毅斌女士，42岁，持有工商管理硕士学位。
彼於从事医疗及环保行业之公司拥有逾16年管
Mr. Chen Yong (“Mr. Chen”), aged 44 joined our Group as the
Director of President’s Office of Huihao Hong Kong in July 2006
and was appointed as an executive Director on 4 September
2012. In May 2008, Mr. Chen became the Managing Director of
Fujian Huihao Sihai Pharmaceutical Chain Company Limited#（ 福
建 惠 好 四 海 医 药 连 销 有 限 公 司） (“Huihao Sihai”) and was
responsible for the overall operation and management of the
Company. He became Vice Chairman of our Group in June 2011.
He has a master of Business Administration degree in Fudan
University（ 上海复旦大学） . Prior to joining our Group, Mr. Chen
was the Assistant to Managing Director and the manager of the
investment development department of Shanghai Cheung Kong
New Hope Enterprise Company Limited#（ 上海张江新希望企业有
限公司） from 8 October 2002 to 5 December 2005 and he was
responsible for assisting the managing director in setting direction
and goals of business operation as well as managing investment
Mr. Yung Ka Chun (“Mr. Yung”), aged 26, obtained his Master
Degree of Science in Business majoring in Accounting from the
University of Maryland, College Park in the United States. Mr.
Yung is the son of Mr. Yung Kwok Leong who is the substantial
shareholder of Hua Xia Healthcare Holdings Limited (stock code:
8143), the shares of which is listed on the Growth Enterprise
Market (“GEM”), which in turn is the substantial shareholder of
the Company.
Mr. Chen Jinshan (“Mr. Chen”), aged 47, holds a bachelor
degree in finance and accounting. Mr. Chen has over 15 years
of accounting experience and had also been a project manager
for more than 6 years in an accounting firm. Mr. Chen was the
executive director of Hua Xia, the shares of which are listed on
GEM of the Stock Exchange for the period from 25 April 2006 to
10 October 2014.
Ms. Shum Ngai Pan, aged 42, holds a Master’s Degree in
Business Administration. She has over 16 years of managerial
experience in companies engaged in the healthcare and
environmental protection sectors.
# English translations of official Chinese names are for identification
purpose only
# 中文官方名称之英文翻译乃仅供识别
Directors’ and Senior Management’s Profiles
董事及高级管理人员简历
万嘉集团控股有限公司
独立非执行董事
梁一池先生（ 「 梁先生」），62岁，於二零一二年
九月四日加入本集团，成为独立非执行董事。
梁先生原为福建中医药大学副校长（ 二零一二
年九月到龄退出副校长岗位），现为福建中医药
大学教授、中医药学硕士生导师及中西医结合
学（ 一级学科）博士生导师。梁先生於一九八九
年获中华人民共和国人事部认定为中青年有突
出贡献专家。
黄汉杰先生（ 「 黄先生」），48岁，於二零一三
年四月十一日加入本集团，成为独立非执行董
事。黄先生於一九九一年七月获香港树仁学院
颁授会计文凭，现为香港执业会计师。於二零
零零年三月及一九九九年十月，彼分别加入成
为香港会计师公会会员及英国国际会计师公会
会员。彼拥有超过10年於香港上市公司出任财
务总监、公司秘书及u或董事之经验。期间，
彼曾参与有关财务及公司秘书事宜，亦曾处理
若干企业融资交易，如并购、集资活动、企业重
组及企业交易。自二零一二年九月十四日至二
零一四年八月十二日期间，黄先生亦曾获委任
为陕西西北新技术实业股份有限公司（ 股份代
号：8258）之非执行董事。除上文披露者外，黄
先生於过往三年内并无於证券於香港或海外之
任何证券市场上市之任何其他公众公司担任任
何董事职务。
# 中文官方名称之英文翻译乃仅供识别
INDEPENDENT NON-EXECUTIVE DIRECTORS
Mr. Liang Yichi (“Mr. Liang”), aged 62, joined our Group as
an independent non-executive Director on 4 September 2012.
Mr. Liang is formerly the vice-president of Fujian University of
Traditional Chinese Medicine (in September 2012, retired from the
position as vice president) and currently a tutor to master students
of Chinese Medicines and a tutor of the integration of traditional
and western medicine (first-tier subject) doctor’s degree of the
Fujian University of Traditional Chinese Medicine. Mr. Liang was
recognized by the Ministry of Personnel of the PRC#（ 中华人民共
和国人事部） as an young and middle-aged expert in outstanding
contribution#（ 中青年有突出贡献专家） in 1989.
Mr. Wong Hon Kit (“Mr. Wong”), aged 48, joined our Group
as an independent non-executive Director on 11 April 2013.
Mr. Wong obtained a Diploma in Accounting from Hong Kong
Shue Yan College in July 1991 and is currently a Certified Public
Accountant in Hong Kong. He was admitted as an associate
member of the Hong Kong Society of Accountant (now known
as Hong Kong Institute of Certified Public Accountants) and the
Association of International Accountants in the United Kingdom in
March 2000 and October 1999, respectively. He has over 10 years’
experience in working as chief financial officer, company secretary
and/or director in listed companies in Hong Kong where he was
involved in the finance and company secretarial matters and
has handled a number of corporate finance transactions such as
mergers and acquisitions, capital fund raising activities, corporate
restructuring and corporate transactions. Mr. Wong was a nonexecutive director of the Shaanxi Northwest New Technology
Industry Company Limited (stock code: 8258) for the period
from 14 September 2012 to 12 August 2014. Save as disclosed
above, Mr. Wong did not hold any directorship in any other public
companies the securities of which are listed on any securities
market in Hong Kong or overseas in the last three years.
# English translations of official Chinese names are for identification
purpose only
Directors’ and Senior Management’s Profiles
董事及高级管理人员简历
WANJIA GROUP HOLDINGS LIMITED
ANNUAL REPORT
刘勇平博士（ 「 刘博士」），59岁，为香港执业律
师并为一间香港律师事务所之顾问。刘博士在
资本市场及并购法律服务行业拥有逾20年经
验。刘博士於一九八七年毕业於伦敦大学，获
颁法学硕士学位，并於一九九四年毕业於牛津
大学，获颁哲学博士学位。除於本公司之委任
外，刘博士自二零一零年六月起一直担任悦达
矿业控股有限公司（ 一间於香港联合交易所有
限公司（ 「 联交所」）主板上市之公司（ 股份代
号：629） ）之独立非执行董事。刘博士自二零
一二年九月起亦一直担任中国森林控股有限公
司（ 一间於联交所主板上市之公司（ 股份代号：
930） ）之独立非执行董事。刘博士於二零一一
年八月至二零一二年十月期间曾担任捷丰家居
用品有限公司（ 一间於联交所主板上市之公司
（ 股份代号：776） ）之独立非执行董事。除上文
所披露者外，刘博士於过往三年内并无於证券
於香港或海外之任何证券市场上市之任何其他
公众公司担任任何董事职务。
高级管理人员
项征女士（ 「 项女士」），53岁，福建省福州市惠
好药业有限公司（ 「 福州惠好」）总经理。项女士
毕业於福建广播电视大学工商管理专业，拥有
逾20年之医药行业经营管理经验。项女士於二
零零八年十二月加入本集团。加入本集团前，
项女士於一九九二年至二零零八年先後在三明
一间国有医药企业福建三明医药股份有限公司
工作，先後担任业务员、药品部经理、药械部经
理及副总经理，主要负责销售业务管理。
Dr. Liu Yongping (“Dr. Liu”), aged 59, is a practicing solicitor
in Hong Kong and a consultant of a firm of solicitors in Hong
Kong. Dr. Liu has more than 20 years of experience in the capital
market and merger and acquisition legal services sector. Dr. Liu
graduated from the University of London with a master’s degree
in law in 1987 and from the University of Oxford with a doctor’s
degree in philosophy in 1994. Apart from his appointment with
the Company, Dr. Liu has been acting as an independent nonexecutive director of Yue Da Mining Holdings Limited, a company
listed on the main board of The Stock Exchange of Hong Kong
Limited (the “Stock Exchange”) (Stock code: 629), since June
2010. Dr. Liu has also been acting as an independent nonexecutive director of China Forestry Holdings Limited, a company
listed on the main board of the Stock Exchange (Stock Code:
930), since September 2012. During August 2011 and October
2012, Dr. Liu acted as an independent non-executive director of
JF Household Furnishings Limited, a company listed on the main
board of the Stock Exchange (Stock Code: 776). Save as disclosed
above, Dr. Liu did not hold any directorship in any other public
companies the securities of which are listed on any securities
market in Hong Kong or overseas in the last three years.
SENIOR MANAGEMENT
Ms. Xiang Zheng (“Ms. Xiang”), aged 53, is the General
Manager of Fujian Province Fuzhou City Huihao Pharmaceutical
Co. Limited #（ 福 建 省 福 州 市 惠 好 药 业 有 限 公 司） (“Fuzhou
Huihao”). Ms. Xiang was graduated from The Open University of
Fujian#（ 福建广播电视大学） majoring in Business Administration,
and has more than 20 years of operational management
experience in the pharmaceutical industry. Ms. Xiang joined
our Group in December 2008. Prior to joining our Group,
Ms. Xiang worked in Fujian Sanming Medicine Shareholding
Co., Limited#（ 福建三明医药股份有限公司） , a state-owned
pharmaceutical enterprise in Sanming from 1992 to 2008,
where she served as salesperson, manager of pharmaceutical
department, manager of medical devices department and vice
general manager, and was mainly responsible for managing the
sales business.
# English translations of official Chinese names are for identification
purpose only
# 中文官方名称之英文翻译乃仅供识别
Directors’ and Senior Management’s Profiles
董事及高级管理人员简历
万嘉集团控股有限公司
罗新天先生（ 「 罗先生」），48岁，福建省惠明医
药有限公司（ 「 福建惠明」）总经理，毕业於福建
医药学校成人中专中药专业，拥有逾25年药品
销售管理经验。罗先生於二零零八年十一月加
入本集团，自二零一二年四月至今一直担任福
建惠明总经理。加入本集团前，自一九八七年
起，罗先生在福建省宁化县、建宁县及三明市
之几间国有医药企业工作，先後担任销售员、
采购部副经理、销售部副经理、总经理助理职
务，主要负责药品采购及销售之管理。
陈兵先生（ 「 陈兵先生」），44岁，福建莆田惠好
医药有限公司（ 「 莆田惠好」）总经理，毕业於西
北民族学院工商企业营销专业，拥有丰富之医
药行业经营管理经验。陈兵先生於二零零八年
十二月加入本集团。加入本集团前，陈兵先生
於二零零六年至二零零七年任职於漳州生物化
学制药集团有限公司，担任销售总监，负责该
公司於中国之全国销售业务管理工作。
许基望先生（ 「 许先生」），41岁，惠好医药（ 泉
州）有限公司（ 「 泉州惠好」）总经理，毕业於西
南交通大学工商管理专业，拥有丰富之医药行
业经营管理经验。许先生於二零一一年一月加
入本集团。加入本集团前，许先生於一九九四
年八月至二零一零年十一月任职於福建省医药
有限责任公司，曾担任公司销售经理，负责药
品销售管理。
Mr. Luo Xintian (“Mr. Luo”), aged 48, is the General Manager
of Fujian Huiming Medicine Co. Limited#（ 福建省惠明医药有限
公司） (“Fujian Huiming”). Mr. Luo was graduated from Fujian
Pharmaceutical School Adult Technical College#（ 福建医药学校
成人中专） majoring in Chinese Medicine, and has more than 25
years of managerial experience in the sales of pharmaceutical
products. Mr. Luo joined our Group in November 2008, and has
been the general manager of Fujian Huiming since April 2012.
Prior to joining our Group, Mr. Luo worked in several state-owned
pharmaceutical enterprises in Ninghua County, Jianning County
and Sanming City in Fujian Province since 1987 as salesman,
deputy manager in procurement department, deputy manager in
sales department, assistant to general manager and he was mainly
responsible for the management of the procurement and sales of
pharmaceutical products.
Mr. Chen Bing (“Mr. B. Chen”), aged 44, is the General Manager
of Putian Huihao Medicine Co. Limited#（ 福建莆田惠好医药有
限公司） (“Putian Huihao”). Mr. B. Chen was graduated from
Northwest College for Nationalities#（ 西北民族学院） majoring
in Business Enterprise Marketing, and has extensive operational
management experience in the pharmaceutical industry. Mr.
B. Chen joined our Group in December 2008. Prior to joining
our Group, Mr. B. Chen worked in Zhangzhou Biochemistry
Pharmaceutical Group Co. Limited#（ 漳州生物化学制药集团有
限公司） as the sales director from 2006 to 2007, responsible for
managing the national sales business in the PRC.
Mr. Xu Jiwang (“Mr. Xu”), aged 41, is the General Manager
of Huihao Medicine (Quanzhou) Co. Limited#（ 惠好医药（ 泉州）
有限公司） (“Quanzhou Huihao”). Mr. Xu was graduated from
Southwest Jiaotong University#（ 西南交通大学） specialising
in Business Administration and has extensive operational
management experience in the pharmaceutical industry. Mr. Xu
joined our Group in January 2011. Prior to joining our Group,
Mr. Xu worked in Fujian Province Pharmaceutical Limited Liability
Company#（ 福建省医药有限责任公司） from August 1994 to
November 2010, and served as the sales manager of the company,
responsible for managing the sales of pharmaceutical products.
# English translations of official Chinese names are for identification
purpose only
# 中文官方名称之英文翻译乃仅供识别
Directors’ and Senior Management’s Profiles
董事及高级管理人员简历
WANJIA GROUP HOLDINGS LIMITED
ANNUAL REPORT
刘心健先生（ 「 刘心健先生」），51岁，厦门惠好
（ 惠好医药（ 厦门）有限公司）总经理。刘心健先
生毕业於上海第二军医大学医学专业，拥有约
32年之医药行业经营管理经验。刘心健先生自
二零一四年五月起加入本集团。
刘招良先生（ 「 刘招良先生」），41岁，南平惠好
（ 惠好医药（ 南平）有限公司）总经理。刘招良
先生毕业於吉林大学经济学专业，拥有约21年
之医药行业经营管理经验。刘招良先生自二零
一四年九月起加入本集团。
陈开平先生（ 「 陈开平先生」），52岁，福州惠好
总经理助理，负责公司之质量管理。陈开平先
生毕业於福建省医药学校，持有执业药剂师资
格。加入本集团前，陈开平先生自二零零三年
九月至二零零八年四月先後担任福建惠好医药
连锁质管部经理及福建惠好药业公司之质管部
副总监，负责药品质量监管工作。
曾伟华先生（ 「 曾先生」），54岁，已获委任为公
司秘书，由二零一四年九月三十日起生效。曾
先生持有财务及会计学士学位以及工商管理硕
士学位。彼为英国特许公认会计师公会资深会
员及香港会计师公会会员。彼於审计、会计、公
司秘书及企业财务方面拥有逾20年专业经验。
Mr. Liu Xin Jian (“Mr. X. Liu’), aged 51, is the General Manager
of Xiamen Huihao（ 惠好医药（ 厦门）有限公司） Mr. X. Liu was
graduated from Second Military Medical University Shanghai,（ 上
海第二军医大学） majoring in Pharmacy and has approximately 32
years operational management experience in the pharmaceutical
industry. Mr. X. Liu joined our Group since May 2014.
Mr. Liu Zhao Liang (“Mr. Z. Liu’), aged 41, is the General
Manager of Nanping Huihao（ 惠好医药（ 南平） 有限公司） Mr.
Z. Liu was graduated from Jilin University（ 吉林大学） majoring
in Economies and has approximately 21 years operational
management experience in the pharmaceutical industry. Mr. Z. Liu
joined our Group since September 2014.
Mr. Chen Kaiping (“Mr. K. Chen”), aged 52, is the assistant to
General Manager of Fuzhou Huihao and he is responsible for the
quality control of the company. Mr. K. Chen was graduated from
Fujian Province Pharmaceutical School#（ 福建省医药学校） , and
is a qualified pharmacist. Prior to joining our Group, Mr. K. Chen
worked as manager of the quality control department in FHP
Chain and as deputy director of the quality control department
in FHP Company during the period from September 2003 to April
2008 and he was responsible for supervising the quality control of
pharmaceutical products.
COMPANY SECRETARY
Mr. Tsang Wai Wa (“Mr. Tsang”), aged 54, has been appointed
as the Company Secretary with effect from 30 September
2014. Mr. Tsang is a holder of a Bachelor degree in Finance and
Accounting and a Master degree in Business Administration. He
is a fellow member of the Chartered Association of Certified
Accountants and an associate member of the Hong Kong Institute
of Certified Public Accountants. He has more than 20 years
of professional experience in auditing, accounting, company
secretary and corporate finance.
# English translations of official Chinese names are for identification
purpose only
# 中文官方名称之英文翻译乃仅供识别
Corporate Governance Report
企业管治报告
万嘉集团控股有限公司
企业管治常规
万嘉集团控股有限公司（ 「 本公司」）确信企业
管治为创造股东价值之必要及重要元素之一。
本公司亦努力达致高水平之企业管治，以适当
保障及提升全体股东利益，同时提高企业价值
及本公司之问责性。
本公司致力维持高标准之企业管治并遵守香港
联合交易所有限公司（ 「 联交所」）主板证券上
市规则（ 「 上市规则」）附录十四所订明之企业
管治守则（ 「 企业管治守则」）。
本公司已采纳企业管治守则内之守则条文作为
其本身企业管治之守则。除如「 主席及行政总
裁」 一节所披露偏离守则条文第A.2.1条，根据
守则条文第A.2.1条主席及行政总裁之角色应
予以区分外，董事会（ 「 董事会」）认为本公司由
二零一三年十月十一日（ 即本公司上市日期）
至本报告日期一直遵守企业管治守则所载之所
有适用守则条文。
CORPORATE GOVERNANCE PRACTICES
Wanjia Group Holdings Limited (the “Company”) acknowledges
the need and importance of corporate governance as one of the
key elements in creating shareholders’ value. The Company is also
committed to achieving high standard of corporate governance
that can properly protect and promote the interests of all
shareholders and to enhance corporate value and accountability of
the Company.
The Company strived to maintain a high standard of corporate
governance and complied with the Corporate Governance Code
(the “CG Code”) as stated in Appendix 14 of the Rules Governing
the Listing Securities on Main Board (the “Listing Rules”) of the
Stock Exchange of Hong Kong Limited (the “Stock Exchange”).
The Company has adopted the code provisions in the CG Code
as its own code of corporate governance. Save as the deviation
from the code provision A.2.1, separation of roles of Chairman
and Chief Executive Officer pursuant to code provision A.2.1 as
disclosed in the section “Chairman and Chief Executive Officer”.
The board of directors (the “Board”) considers that the Company
was in compliance with all applicable code provisions set out in
the CG Code from 11 October 2013, being the date of listing of
the Company, to the date of this report.
Corporate Governance Report 企业管治报告
Corporate Governance Report
企业管治报告
WANJIA GROUP HOLDINGS LIMITED
ANNUAL REPORT
本公司业务之整体管理由董事会负责。
董事会负责监督本公司所有重大事宜，包
括制订及批准所有政策事宜、整体策略、
内部监控及风险管理制度，并监察高级管
理人员表现。本公司董事（ 「 董事」）须在
符合本公司利益之前提下作出客观决定。
目前，董事会由五名董事（ 包括两名执行
董事及三名独立非执行董事）组成：
翁加兴先生 （ 主席兼行政总裁）
（ 於二零一四年十一月二十一日辞任）
陈勇先生 （ 副主席）
（ 於二零一四年十月十日辞任）
翁嘉晋（ 於二零一四年十月十日获委任及
於二零一五年四月二十日辞任）
陈金山（ 於二零一四年十月十日获委任）
沈毅斌（ 於二零一五年四月二十日
独立非执行董事
梁一池先生
黄汉杰先生
刘勇平博士
彼等之履历详情及董事会成员之间之关
系（ 如有）载於年报「 董事及高级管理人
员简介」 一节。
A. THE BOARD OF DIRECTORS
The overall management of the Company’s operation is
vested in the Board.
The Board takes responsibility to oversee all major matters
of the Company, including the formulation and approval of
all policy matters, overall strategies, internal control and risk
management systems, and monitoring of the performance
of the senior management. The directors of the Company
(“Directors”) make decisions objectively in the interests of
the Company. Currently, the Board comprises five Directors,
including two executive directors and three independent
non-executive directors:
Executive Directors
Mr. Weng Jiaxing (Chairman and Chief Executive Officer)
(resigned on 21 November 2014)
Mr. Chen Yong (Vice Chairman)
(resigned on 10 October 2014)
Yung Ka Chun (appointed on 10 October 2014 and resigned
on 20 April 2015)
Chen Jinshan (appointed on 10 October 2014)
Shum Ngai Pan (appointed on 20 April 2015)
Independent Non-Executive Directors
Mr. Liang Yichi
Mr. Wong Hon Kit
Dr. Liu Yongping
Their biographical details and relationships among the
board members, if any are set out in the section entitled
“Directors’ and Senior Management’s Profile” in the annual
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