Financial Performance - For the fiscal year ending December 31, 2022, the company reported revenue of RMB 376.4 million, a decrease of 8.1% from RMB 409.8 million in 2021[9]. - The company's profit before tax for 2022 was RMB 25.4 million, down 39.0% from RMB 41.8 million in 2021[9]. - Net profit attributable to the company's owners for the year was RMB 15.2 million, a decline of 44.0% compared to RMB 27.2 million in the previous year[9]. - The company's revenue decreased by approximately 8.2% from RMB 409.8 million in the year ended December 31, 2021, to RMB 376.4 million in the year ended December 31, 2022[18]. - Gross profit for the year ended December 31, 2022, was approximately RMB 111.8 million, a decrease of about 14.1% from RMB 130.2 million in 2021, with gross margin dropping from 31.8% to 29.7%[20]. - The company's net profit for the year ended December 31, 2022, was approximately RMB 16.1 million, down from RMB 27.3 million in 2021, due to reduced gross profit and other income losses[27]. Assets and Equity - Total assets as of December 31, 2022, amounted to RMB 662.9 million, an increase of 7.1% from RMB 618.7 million in 2021[10]. - The company's total equity increased to RMB 395.3 million in 2022, up from RMB 380.0 million in 2021, reflecting a growth of 4.0%[10]. - As of December 31, 2022, the company's cash and cash equivalents were approximately RMB 27.5 million, a decrease of about 24.0% from RMB 36.2 million on December 31, 2021[37]. - Total borrowings as of December 31, 2022, amounted to approximately RMB 201.6 million, down from RMB 213.4 million on December 31, 2021[38]. - The company's debt-to-equity ratio increased to approximately 57.6% as of December 31, 2022, compared to 56.2% on December 31, 2021[39]. Business Operations - The company continues to focus on producing and selling a variety of confectionery products, including gummy candies, pressed candies, and hard candies, under both OEM and its own brands[5][14]. - The company has implemented measures to strengthen its existing business in response to the COVID-19 pandemic, ensuring that product and raw material supply remained unaffected[12][13]. - The company operates its own production facilities in Fujian Province, Jinjiang City, which allows for direct control over product quality and production costs[14]. - The decrease in profit was primarily due to a reduction in listing expenses of approximately RMB 14.9 million and a net impact of a decrease in gross profit of about RMB 18.4 million[14]. Future Strategies - The company aims to consolidate its existing business development to provide stable returns and growth prospects for shareholders in the future[6]. - The company plans to enhance marketing efforts and expand production capacity, with allocations of RMB 40.3 million for capacity expansion and RMB 20.1 million for replacing existing production line machinery[29]. - Future business strategies include focusing on product development and quality control to meet changing consumer preferences[18]. - The company aims to strengthen its market position in China through increased brand awareness and e-commerce sales channels[18]. Corporate Governance - The company has adhered to the corporate governance code and maintained high standards of corporate governance throughout the year ending December 31, 2022, with the exception of a deviation from code provision C.2.1[78]. - The board consists of three executive directors and three independent non-executive directors, ensuring a balance of power and independent viewpoints[81]. - The company has implemented a strict code of conduct for directors regarding securities trading, with all directors complying with the trading standards during the review period[80]. - The board is responsible for overall management and oversight of the company's business, ensuring decisions are made in the best interest of the company[81]. - The company regularly reviews its corporate governance policies and practices, including training and professional development for directors and senior management[83]. Risk Management - The company faces risks related to reliance on major OEM customers and third-party distributors, which could significantly impact sales if agreements are terminated[31]. - The group has no significant credit risk related to other receivables, and management regularly monitors these risks[50]. - The group has no significant credit concentration risk and will continue to monitor such credit risks[52]. - The company has established communication channels with shareholders, including annual general meetings and timely disclosures of corporate communications[125]. Social Responsibility and Compliance - The group emphasizes the importance of corporate social responsibility in supplier selection and procurement processes[184]. - The group has established an environmental management system to promote environmental awareness among employees and ensure compliance with environmental regulations[139]. - The group has complied with relevant laws and regulations, with no serious violations reported during the year[186]. Shareholder Information - The board of directors does not recommend the payment of any dividends for the year ended December 31, 2022[54]. - There is no fixed dividend policy, and future dividends will depend on the group's operating performance, available cash flow, financial condition, and other relevant factors[109]. - The group did not recommend the payment of a final dividend for the year ended December 31, 2022 (2021: none)[137].

香港交易及結算所有限公司及香港聯合交易所有限公司（「聯交所」）對本 公告的內容概不負責，對其準確性或完整性亦不發表任何聲明，並明確 表示，概不就因本公告全部或任何部分內容而產生或因倚賴該等內容而 引致的任何損失承擔任何責任。 Jiujiuwang Food International Limited 久 久 王 食 品國 際有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：1927） 截 至2022年12月31日 止 年 度 之 全 年 業 績 公 告 財務摘要 截 至2022年12月31日 止 年 度，收 益 約 為 人 民 幣376,411,000元（2021年：約 人民幣409,825,000元），按年減少8.2%。 截 至2022年12月31日 止 年 度，毛 利 約 為 人 民 幣111,847,000元（2021年：約 人民幣130,193,000元），按年減少14.1%。 截 至2022年12月31日 止 年 度， 本 公 司 擁 有 人 應 佔 溢 利 約 為 人 民 幣 16,066,000元（2021年：約人民幣27,289,000元），按年下降41.1%。 截 至2022年1 ...

Financial Performance - For the six months ended June 30, 2022, the company recorded a profit of approximately RMB 10.1 million, compared to RMB 9.4 million for the same period in 2021, representing an increase of about 7.4%[9]. - Revenue decreased by approximately 4.1% from RMB 190.4 million for the six months ended June 30, 2021, to RMB 182.5 million for the same period in 2022, primarily due to reduced sales of OEM products[11]. - Gross profit for the six months ended June 30, 2022, was approximately RMB 51.3 million, a decrease of about 16.4% from RMB 61.4 million for the same period in 2021, with a gross margin of 28.1% compared to 32.2% in 2021[15]. - Profit for the six months ended June 30, 2022, was approximately RMB 10.1 million, compared to RMB 9.4 million for the same period in 2021, reflecting a net increase due to reduced administrative expenses[20]. - The net profit for the period was RMB 10,116,000, an increase of 7.7% compared to RMB 9,357,000 in 2021[133]. - Total comprehensive income for the period was RMB 10,116 thousand, reflecting an increase from RMB 9,357 thousand in the prior year[144]. Revenue Breakdown - Revenue for the six months ended June 30, 2022, was RMB 182,544,000, a decrease of 4.2% from RMB 190,350,000 in the same period of 2021[163]. - OEM product revenue decreased to RMB 63,201,000, down 22.3% from RMB 81,359,000 in 2021[163]. - Own brand product revenue increased to RMB 119,343,000, up 12.5% from RMB 109,991,000 in 2021[163]. Expenses and Costs - Sales costs increased by approximately 1.8%, from RMB 129.0 million for the six months ended June 30, 2021, to RMB 131.3 million for the same period in 2022, mainly due to increased depreciation and maintenance costs[14]. - Selling expenses rose from approximately RMB 15.2 million for the six months ended June 30, 2021, to RMB 19.3 million for the same period in 2022, attributed to increased marketing and promotional activities[17]. - Administrative expenses decreased by approximately 45.9% from RMB 22.9 million for the six months ended June 30, 2021, to RMB 12.4 million for the six months ended June 30, 2022[20]. - The company incurred financing costs of RMB 6,304,000 for the six months ended June 30, 2022, slightly up from RMB 6,262,000 in 2021[167]. Cash Flow and Assets - As of June 30, 2022, cash and cash equivalents were approximately RMB 27.8 million, a decrease of about 23.2% from RMB 36.2 million as of December 31, 2021, primarily due to property, plant, and equipment purchases[41]. - Total assets as of June 30, 2022, were RMB 645,531,000, compared to RMB 618,677,000 as of December 31, 2021[136]. - The company's cash and cash equivalents decreased to RMB 27,804,000 from RMB 36,197,000 as of December 31, 2021[136]. - The net cash generated from operating activities for the six months ended June 30, 2022, was RMB 10,229 thousand, compared to a net cash used of RMB 11,684 thousand in the same period of 2021[145]. Debt and Liabilities - Total borrowings as of June 30, 2022, were approximately RMB 206.8 million, down from RMB 213.4 million as of December 31, 2021[42]. - As of June 30, 2022, the company's debt-to-equity ratio was approximately 53.4%, down from 56.2% as of December 31, 2021, primarily due to the repayment of bank loans[53]. - The total liabilities as of June 30, 2022, were RMB 247,493,000, compared to RMB 238,633,000 as of December 31, 2021[136]. Corporate Governance and Strategy - The company plans to strengthen the development of existing businesses to provide stable returns and growth prospects for shareholders in the future[10]. - The company plans to maintain flexibility in its business strategy to adapt to market trends and potential challenges[39]. - The company is committed to maintaining high standards of corporate governance and will continuously review and improve its governance practices[76]. - The board believes that having Zheng Zhenzhong serve as both chairman and CEO is in the best interest of the company, given his extensive experience in the candy industry[79]. Production and Development - The company operates a large factory in Jinjiang, Fujian Province, with multiple production lines capable of producing several tons of products[9]. - Research and development expenses for new product development increased by approximately RMB 4.7 million during the reporting period[9]. - The company aims to directly control product quality, production costs, and production schedules through its owned production facilities[9]. - The company plans to expand production capacity, upgrade existing production line machinery, enhance marketing through e-commerce channels, and strengthen product offerings through continuous development[72]. Employee and Shareholder Information - The company has 438 employees as of June 30, 2022, an increase from 403 employees as of December 31, 2021[70]. - The company did not declare any dividends for the six months ended June 30, 2022, compared to zero in 2021[54]. - As of June 30, 2022, Zheng Guosi and Zheng Zhenzhong each hold 576,179,908 shares, representing 72.75% of the company's equity[84]. - The issued and fully paid share capital remained at 792,000,000 shares as of June 30, 2022, consistent with the previous period[198].

Audit Process - The audit process for the financial performance for the year ended December 31, 2021, has been completed as of April 28, 2022[2] - The financial statements for the year ended December 31, 2021, have been reviewed and found to comply with applicable accounting standards and listing rules[4] Audit Committee - The audit committee consists of three independent non-executive directors, ensuring oversight of financial reporting and internal controls[4]

Financial Performance - For the year ended December 31, 2021, the company reported revenue of RMB 409.8 million, a slight increase from RMB 401.2 million in 2020, representing a growth of approximately 0.4%[14] - The company's profit before tax decreased to RMB 27.3 million in 2021 from RMB 60.2 million in 2020, reflecting a decline of about 54.7%[14] - Total assets increased to RMB 618.7 million in 2021, up from RMB 509.5 million in 2020, marking a growth of approximately 21.5%[14] - The company’s total equity rose to RMB 380.0 million in 2021, compared to RMB 260.7 million in 2020, indicating an increase of around 46.0%[14] - The company's revenue increased by approximately 2.1% from RMB 401.2 million in the year ended December 31, 2020, to RMB 409.8 million in the year ended December 31, 2021[25] - Sales cost rose by about 2.2%, from RMB 273.5 million in 2020 to RMB 279.6 million in 2021, aligning with the revenue increase[26] - Gross profit for the year ended December 31, 2021, was approximately RMB 130.2 million, an increase of about 1.9% compared to RMB 127.8 million in 2020, maintaining a stable gross margin of approximately 31.8%[26] - Other income and gains increased significantly from RMB 0.4 million in 2020 to RMB 4.9 million in 2021, primarily due to increased government subsidies[27] - Administrative expenses surged by approximately 50.5%, from RMB 19.0 million in 2020 to RMB 28.6 million in 2021, mainly due to increased R&D expenses of about RMB 11.4 million[29] - The company recorded a profit of approximately RMB 27.3 million for the year ended December 31, 2021, down from RMB 44.1 million in 2020, largely due to increased listing expenses and R&D costs[35] Business Strategy and Market Position - The company aims to strengthen its existing business and provide stable returns and growth prospects for shareholders in the future[10] - The company is focused on expanding its market presence and enhancing product offerings to drive future growth[10] - The company aims to strengthen its market position in China and enhance brand recognition through increased marketing efforts and e-commerce channels[24] - The company is focusing on product development and quality improvement to meet changing consumer preferences and strengthen its product offerings[24] - The company is expanding its market presence in Southeast Asia, targeting a 15% market share within the next two years[110] - A strategic acquisition of a local competitor is anticipated to enhance the company's product offerings and increase market penetration[110] Operational and Production Insights - The company operates its own production facilities in Fujian Province, Jinjiang, allowing for direct control over product quality and production costs[19] - The company sells products under its own brands, including Kusha and Jiujiuwang, as well as through OEM clients in both domestic and international markets[19] - The company has implemented measures to address the impacts of COVID-19, which have not significantly affected product or raw material supply[18] Financial Management and Capital Expenditure - The company plans to utilize approximately HKD 75.7 million from its listing proceeds for various purposes, including capacity expansion and marketing efforts[36] - The group utilized approximately HKD 20.1 million to replace existing production line machinery[55] - The group repaid approximately HKD 6.3 million of bank loans[56] - The group invested about HKD 6.7 million in a marketing company to enhance brand promotion in the Chinese fruit industry[57] - As of December 31, 2021, the group's cash and cash equivalents amounted to RMB 362 million, an increase of approximately 27.0% from RMB 285 million as of December 31, 2020[66] - The total borrowings of the group as of December 31, 2021, were approximately RMB 2.134 billion, a decrease from RMB 2.189 billion as of December 31, 2020[67] - The group's debt-to-equity ratio as of December 31, 2021, was approximately 56.2%, down from 84.0% as of December 31, 2020[73] - The group has capital commitments of approximately RMB 30.765 million for the acquisition of property, plant, and equipment as of December 31, 2021[78] Risk Management and Compliance - The company faces risks related to reliance on major OEM customers and third-party distributors, which could significantly impact sales if agreements are terminated[41][42] - The group faced several risks in executing its business strategy, including potential impacts from COVID-19 and changes in consumer behavior due to a volatile trade environment[61] - The company has significantly reduced credit risk by implementing a credit limit and approval system for trade receivables, with individual impairment assessments conducted under the expected credit loss model[88] - The management believes that there is no significant credit risk associated with other receivables, as regular assessments based on historical repayment records and forward-looking information are conducted[89] - The company has no major credit concentration risks and continues to monitor these credit risks closely[91] - The company has not been involved in any significant litigation or arbitration as of December 31, 2021, and there are no unresolved major claims[92] Corporate Governance - The board of directors does not recommend any dividend payment for the year ended December 31, 2021, consistent with the previous year[93] - The board consists of three executive directors and three independent non-executive directors, ensuring compliance with corporate governance standards[132] - The company has maintained high standards of corporate governance since its listing date, with adherence to the corporate governance code, except for a deviation noted in clause A.2.1[126] - The chairman and CEO roles are currently held by the same individual, Mr. Zheng, which the board believes is in the best interest of the company due to his extensive industry knowledge[127] - The board is committed to creating shareholder value and maximizing returns while continuously reviewing and enhancing corporate governance practices[126] - The company has established a robust internal control system and provides ongoing professional training for its directors[126] - The independent non-executive directors collectively hold the necessary professional qualifications and financial management knowledge as per listing rules[134] - The company will consider separating the roles of chairman and CEO at an appropriate time based on the overall situation of the group[127] - The board is responsible for overseeing the company's business management and ensuring compliance with legal and regulatory requirements[133] - The Audit Committee has held two meetings since the company's listing date, reviewing the annual performance for the year ended December 31, 2020, and the interim performance for the six months ended June 30, 2021[143] - The Remuneration Committee has approved the compensation for executive directors to remain unchanged, based on market levels and the group's performance[149] - The Nomination Committee has established a nomination policy to ensure that candidates for the board possess the necessary business, financial, and management skills relevant to the group's operations[162] - The Audit Committee has recommended the reappointment of the external auditor for 2022, pending shareholder approval at the upcoming annual general meeting[145] - The company has complied with applicable accounting standards and regulations, as confirmed by the Audit Committee[145] - The Remuneration Committee consists of two independent non-executive directors and one executive director, ensuring no conflicts in determining their own remuneration[148] - The Nomination Committee has met once since the listing date to review the board's structure and composition[161] - The Audit Committee is responsible for monitoring the integrity of the financial statements and overseeing the internal control and risk management systems[143] - The company has established four board committees: Audit, Remuneration, Nomination, and Risk Management, to ensure effective governance[140] - The company has provided sufficient resources for all board committees to fulfill their duties and seek independent professional advice when necessary[140] - The board has adopted a diversity policy to enhance efficiency and maintain high governance standards, focusing on various factors including professional experience, skills, gender, age, and cultural background[165] - The board currently consists of over one-third independent non-executive directors from different industry backgrounds, with ages ranging from 33 to 66[165] - The risk management committee was established on February 18, 2020, to strengthen risk management capabilities and improve corporate governance, consisting of three members[169] - The risk management committee held one meeting from the listing date until December 31, 2021, with all members attending[171] - The company has no fixed dividend policy or predetermined payout ratio, with future dividends subject to board recommendation and shareholder approval[177] - The nomination committee aims to increase the proportion of female board members and will recommend at least one female candidate annually[168] - The company has implemented a non-competition agreement with major shareholders, confirming compliance since the listing date[190] - The board is responsible for preparing financial statements that fairly reflect the group's affairs, with no significant uncertainties affecting the group's ability to continue as a going concern as of December 31, 2021[191] - The company has obtained directors and officers liability insurance to cover potential legal liabilities arising from lawsuits against directors[176] - The board members are committed to continuous professional development and are aware of their responsibilities under corporate governance codes[189] - The board acknowledges its responsibility to prepare financial statements that fairly reflect the group's performance and cash flow for the year[194] - The board believes the group has sufficient resources for continued operations in the foreseeable future[194] - The board has conducted an annual review of the effectiveness of the risk management and internal control systems, covering financial, operational, compliance, and risk management functions[197] - The group has engaged an independent internal control consultant to review the internal control situation[198] - The board considers the internal control system as sufficient and effective as of December 31, 2021[198]

Jiujiuwang Food International Limited 久久王食品国际有限公司 (於関曼群島註冊成立的有限公司) 股份代號 : 1927 轻松果堂 经松果堂 u 爽回腿味 明日爆勝 跟国爆胖 ≥807 原果汁含量 >80% 中 期 報 告 2021 目 錄 公司資料 2 管理層討論及分析 4 簡明綜合損益及其他全面收益表 27 簡明綜合財務狀況表 28 簡明綜合權益變動表 30 簡明綜合現金流量表 31 簡明綜合財務報表附註 32 公司資料 | --- | --- | |-----------------------------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------| | | | | 董事會 | 提名委員會成員 | | 執行董事 | 鄭振忠先生(主席) | | 鄭振忠先生(主席兼行政總裁) | 陳聰明先 ...

Jiujiuwang Food International Limited 久久王食品国际有限公司 |於開曼群島註冊成立的有限公司| 股份代號：1927 清口含片 舞团旗 爽回爆跌 爽目爆味 原果汁含量 80% >80% 年 報 2020 目 錄 | --- | --- | |-------------------|----------------------------| | | | | 公司資料 主席報告 | | | 財務摘要 | | | 管理層討論及分析 | | | | 董事及高級管理層的履歷詳情 | | 企業管治報告 | | | | | | 董事會報告 | | | 獨立核數師報告 | | | | 綜合損益及其他全面收益表 | | 綜合財務狀況表 | | | 綜合權益變動表 | | | 綜合現金流量表 | | | 綜合財務報表附註 | | | 財務概要 | | | | | 2 3 4 5 11 16 30 41 45 46 47 48 50 96 快速清值 公司資料 | --- | --- | |-------------------------------------------------|---- ...