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 | --- | --- | |-------------------------------------------------|---- ...