资料显示，老恒和酿造有限公司的前身老元大酱园创立于江南湖州,创始人钱蓉江写下了"恒以持之,和信 为本"的祖训,走过了三个朝代的更迭,历经风雨磨砺,传承百年,成为了今天老恒和企业文化的精髓。正是 这种精神使老元大的酱香飘了半个世纪。随着1930年的迁址,老元大正式更名为"老恒和",取意百年品牌 谓之老,传承酝酿谓之恒,笑迎天下谓之和,传承宏愿和经营志向从中可见。如今的老恒和,浓缩了浙北地区 酱缸产业数百年的精华,以生产酿造料酒、黄酒、酱油、玫瑰米醋、腐乳、酱料、糟卤等产品为主,在经 历了兴盛和低谷,曲折和振兴的道路,历久而弥坚。这个有着百年历史的老字号,正在以令人惊叹的速度发 展,迎向下一个百年历程。湖州始称"菰城"。至秦时有乌巾、程林二氏善酿美酒,始皇喜爱乌程美酒,废菰 城封乌程县(当时全国只有三十六个郡县,以做酒封侯的只此一个),《浙江通志》中记载了这件事:"秦有乌 氏、程氏各善造酒,合其姓为乌程县。"晋代吴兴太守张玄之的《吴兴山墟名》记载:"乌巾山,昔有乌巾者, 其家善酿美酒,居此山。"由此可见,当年的乌巾就住在今天八里店的乌山。而程林则住在今天长兴的箬 溪。箬溪北岸被称为下箬,程林取下箬水酿酒,名"箬下 ...

Financial Performance - Revenue for the year ended December 31, 2024, amounted to RMB 275.1 million, representing an increase of 6.3% from RMB 258.8 million recorded in 2023[6] - Gross profit for the year ended December 31, 2024, amounted to RMB 73.1 million, representing a decrease of 1.4% from RMB 74.1 million recorded in 2023[6] - Loss attributable to ordinary equity holders for the year ended December 31, 2024, amounted to RMB 516.6 million, a decrease of 1.5% from RMB 524.3 million recorded in 2023[6] - The gross profit margin decreased from approximately 28.6% in 2023 to approximately 26.6% in 2024 due to adjustments in product structure[26] - Loss before income tax decreased by 1.5% from RMB 524.3 million in 2023 to RMB 516.6 million in 2024[97] - Loss per share attributable to ordinary equity holders decreased from RMB0.91 in 2023 to RMB0.89 in 2024[105] - Loss before interest, taxes, depreciation, and amortization (LBITDA) decreased by 5.0% from RMB301.4 million in 2023 to RMB286.4 million in 2024[77] Assets and Liabilities - The total assets as of December 31, 2024, were RMB 1,050.4 million, a decrease from RMB 1,113.2 million in 2023[11] - Total liabilities as of December 31, 2024, were RMB 3,901.9 million, an increase from RMB 3,446.7 million in 2023[11] - The gearing ratio increased from 328.1% in 2023 to 393.5% in 2024, indicating a rise in financial leverage[79] - Total borrowings increased from RMB2,808.5 million as of December 31, 2023, to RMB3,311.3 million as of December 31, 2024[124] - Cash and cash equivalents decreased from RMB10.1 million as of December 31, 2023, to RMB6.3 million as of December 31, 2024[130] Revenue Breakdown - Cooking wine products generated sales revenue of approximately RMB187.0 million, accounting for approximately 68.0% of total revenue[26] - Soy sauce products generated sales revenue of approximately RMB30.3 million, accounting for approximately 11.0% of total revenue[26] - Online sales revenue reached approximately RMB23.0 million in 2024, an increase of approximately 83.0% from approximately RMB12.6 million in the corresponding period in 2023[20] - Revenue from cooking wine products rose by 8.9% from RMB171.7 million in 2023 to RMB187.0 million in 2024, due to product development and enhanced market penetration[82] - Revenue from soy sauce products increased by 15.2% from RMB26.3 million in 2023 to RMB30.3 million in 2024, focusing on zero-additive and cost-effective products[83] - Revenue from rice vinegar and other products decreased by 4.9% from RMB60.8 million in 2023 to RMB57.8 million in 2024, as underperforming products were phased out[84] Marketing and Brand Strategy - The market share of "Lao Heng He Cooking Wine" in offline sales was 19.1% in 2024, ranking first in the industry for the eighth consecutive year[14] - The company engaged a professional marketing team to enhance brand strategy and product development across multiple channels[17] - The Group's marketing strategy includes optimizing product structure and enhancing promotional efforts to improve market competitiveness[19] - The Group participated in major expos, enhancing brand awareness and reaching more global consumers[20] - The company is committed to enhancing brand exposure through digital marketing methods, including social media and content marketing[163] - The company aims to increase the market share of the "Lao Heng He" brand in China through collaboration with strong online platforms and offline distributors[163] Product Development and Innovation - The company plans to maintain a diversified product structure strategy, focusing on innovation in areas such as bacterial strain research and smart brewing to enhance product quality and consumer trust[155] - The company plans to develop distinctive new condiments, including low-sodium, low-fat, low-sugar, and organic products, to align with the healthy eating trend[163] - The Group plans to further develop the condiment industry chain, aiming to become a diversified condiment manufacturer with cooking wine as the leading product[27] - The company is focusing on the development of a diversified seasoning product structure, aiming to establish itself as a leading manufacturer of cooking wine and other seasoning products[29] Corporate Governance - The Company has complied with the Governance Code provisions, except for a deviation noted in the "D. Chairman and Chief Executive" section[180] - The Board is committed to maintaining high standards of corporate governance to enhance accountability and transparency[181] - The Board has established clear rules and policies for delegating powers to facilitate efficient operations, supported by three committees: Audit, Remuneration, and Nomination[189] - The Board is responsible for overall management, including strategic development, business plans, and financial objectives[187] Employee and Operational Insights - The total remuneration paid to employees for the year ended December 31, 2024, amounted to approximately RMB 49.5 million, an increase from RMB 45.3 million in 2023[169] - The employee benefit plan contribution for 2024 was RMB 7.3 million, up from RMB 5.6 million in 2023[169] - As of December 31, 2024, the company employed approximately 509 full-time employees, a decrease from 528 in 2023[169] Future Outlook - Looking ahead to 2025, the Chinese government aims to boost consumption and expand domestic demand, with a focus on increasing the income of middle- and low-income groups[149] - The condiment industry is expected to face challenges such as weak consumer demand and intensified competition, but will also encounter new opportunities for market differentiation[149] - The company aims to achieve a market growth target of approximately 5% by 2025, focusing on enhancing consumer confidence and tapping into the domestic market[161] - The group aims to achieve business goals by stabilizing customers, expanding channels, increasing revenue, and reducing costs, while focusing on innovation[158]

Financial Performance - For the fiscal year ending December 31, 2024, revenue was RMB 275.1 million, an increase of 6.3% compared to RMB 258.8 million in 2023[2] - Gross profit for the same period was RMB 73.1 million, a decrease of 1.4% from RMB 74.1 million in 2023[2] - The loss attributable to ordinary equity holders was RMB 516.6 million, a reduction of 1.5% from RMB 524.3 million in 2023[2] - Total comprehensive expenses for the year amounted to RMB 525.4 million, compared to RMB 518.0 million in the previous year[4] - The basic and diluted loss per share was RMB 0.89, compared to RMB 0.91 in the previous year[4] - The company reported a net loss of 2,851,544 thousand RMB in 2024, compared to a net loss of 2,333,542 thousand RMB in 2023, representing an increase in losses of approximately 22.2%[6] - The company reported a loss before tax of RMB 516,564,000 for the year ending December 31, 2024, compared to a loss of RMB 524,316,000 for the previous year, representing a slight improvement[35] - The effective tax rate for the year was 15.4% for 2024, compared to 25.0% for 2023, indicating a reduction in tax burden[35] Cash Flow and Liquidity - Cash and cash equivalents decreased from 10,124 thousand RMB in 2023 to 6,346 thousand RMB in 2024, a decrease of about 37.5%[5] - The group reported a net cash amount of approximately RMB 836,000 as of December 31, 2024, compared to RMB 102,215,000 in 2023, indicating a significant decrease[13] - The group has implemented measures to ensure sufficient cash resources to meet its financial obligations over the next twelve months[16] - The group is negotiating with financial institutions for the renewal of short-term loans totaling approximately RMB 2,315,145,000 and has received commitments for new financing of RMB 450,000,000[18] Assets and Liabilities - Total assets decreased from 803,342 thousand RMB in 2023 to 752,212 thousand RMB in 2024, a decline of approximately 6.4%[5] - Current liabilities increased from 432,455 thousand RMB in 2023 to 452,136 thousand RMB in 2024, an increase of about 4.0%[5] - The company's total liabilities increased from 3,438,026 thousand RMB in 2023 to 3,894,099 thousand RMB in 2024, an increase of approximately 13.3%[5] - The company's long-term debt increased from 2,806,293 thousand RMB in 2023 to 3,309,947 thousand RMB in 2024, an increase of about 17.9%[5] - The accumulated losses of the group reached approximately RMB 3,718,420,000 as of December 31, 2024, compared to RMB 3,201,856,000 in 2023, indicating a rise of about 16.1%[13] Revenue and Sales - Revenue from the sale of seasoning products for the year 2024 is RMB 275,077,000, an increase from RMB 258,784,000 in 2023, representing a growth of approximately 6.3%[26] - Revenue from liquor products rose by 8.9% from RMB 171.7 million in 2023 to RMB 187.0 million in 2024, driven by product optimization and improved market penetration[75] - Revenue from soy sauce products increased by 15.2% from RMB 26.3 million in 2023 to RMB 30.3 million in 2024, driven by the development of zero-additive and high-value products[76] - Online sales revenue reached approximately RMB 23.0 million in 2024, up approximately 83.0% from RMB 12.6 million in the same period of 2023[67] Operational Efficiency - The company experienced a foreign exchange loss of RMB 1.4 million, compared to a loss of RMB 1.1 million in the previous year[4] - The company reported a decrease in selling and distribution expenses to RMB 95.2 million from RMB 86.9 million[4] - Administrative expenses increased to RMB 47.1 million from RMB 41.0 million[4] - The company has implemented cost management measures to enhance production efficiency and improve management effectiveness[69] Inventory and Receivables - Inventory decreased from 645,899 thousand RMB in 2023 to 586,086 thousand RMB in 2024, a decline of approximately 9.2%[5] - The company recognized an additional provision of RMB 358,000 for inventory obsolescence in 2024, compared to a reversal of RMB 3,038,000 in 2023, highlighting challenges in inventory valuation[41] - Trade receivables totaled RMB 27,893,000 in 2024, up from RMB 23,229,000 in 2023, indicating an increase in sales on credit[42] - The net value of trade receivables after impairment was RMB 25,220,000 for 2024, compared to RMB 20,775,000 in 2023, showing improved collection efficiency[42] Corporate Governance and Management - The board of directors did not recommend the payment of a final dividend for the fiscal year ending December 31, 2024[2] - The company is actively seeking a new Chief Executive Officer to fill the vacancy left by the resignation of the previous CEO in November 2024[121] - The company emphasizes the importance of good corporate governance to enhance management and protect shareholder interests[120] Future Outlook and Strategy - The company aims to achieve an economic growth target of around 5% by 2025, focusing on domestic demand and consumer confidence recovery[109] - The company plans to enhance its market position by diversifying its product structure and expanding product lines to respond to market demands[107] - The company is focusing on developing a diverse range of seasoning products to better meet the personalized and diversified needs of existing customers[71] - The company plans to strengthen its marketing and brand promotion through digital marketing strategies, including social media and content marketing, to increase online visibility and interaction[112]

始 创 于 清 咸 丰 Honworld Group Limited 老恒和釀造有限公司 * (Incorporated in the Cayman Islands with limited liability) (於開曼群島註冊成立的有限公司) Stock code 股份代號 : 2226 Interim Report 中期報告 2024 * For identification purposes only 僅供藏別 "LAO HENG HE", A BRAND WITH A HISTORY OF MORE THAN 160 YEARS. PANAMA — PACIFIC INTERNATIONAL EXPOSITION GOLD AWARD FOR CONDIMENT PRODUCTS. 「老恒和」,源自傳承,品牌歷史超過160年 巴拿馬博覽會金獎產品 目錄 CONTENTS 公司資料 02 Corporate Information 簡明綜合中期現金流量表 33 Condensed Consolidated Interim Statement of Cash Flows 簡明綜合中期財務狀況表 30 C ...

香 港 交 易 及 結 算 所 有 限 公 司 及 香 港 聯 合 交 易 所 有 限 公 司 對 本 公 佈 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 佈 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。 Honworld Group Limited 老恒和釀造有限公司* （於開曼群島註冊成立的有限公司） （股份代號：2226） 截 至 二 零 二 四 年 六 月 三 十 日 止 六 個 月 中 期 業 績 公 佈 | --- | --- | |-------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

Financial Performance - The company achieved sales revenue of approximately RMB 258.8 million in 2023, a decrease of RMB 12.8 million (4.7%) compared to 2022, primarily due to rising raw material costs, market competition, and reduced consumer purchasing power[1] - Revenue decreased by 4.7% from RMB 271.6 million in 2022 to RMB 258.8 million in 2023, primarily due to weak consumer demand, rising raw material costs, and adjustments in the distribution network[20] - Gross profit decreased by 0.9% from RMB 74.8 million in 2022 to RMB 74.1 million in 2023, while gross profit margin increased from 27.5% to 28.6% due to effective cost control and lower raw material prices[23] - Loss attributable to owners of the company increased by 7.8% from RMB 486.3 million in 2022 to RMB 524.3 million in 2023[18] - Revenue for 2023 decreased by 4.7% to RMB258.8 million compared to RMB271.6 million in 2022[89] - Gross profit for 2023 decreased by 0.9% to RMB74.1 million compared to RMB74.8 million in 2022[89] - Loss attributable to ordinary equity holders increased by 7.8% to RMB524.3 million in 2023 from RMB486.3 million in 2022[89] - Revenue decreased by 4.7% from RMB271.6 million in 2022 to RMB258.8 million in 2023, primarily due to industry challenges, consumer uncertainty, and distribution network adjustments[143] - Gross profit decreased by 0.9% from RMB74.8 million in 2022 to RMB74.1 million in 2023, while gross profit margin increased from 27.5% to 28.6% due to cost control and lower raw material prices[157] - Loss attributable to ordinary equity holders increased by 7.8% from RMB486.3 million in 2022 to RMB524.3 million in 2023, reflecting higher net loss[160] - Net loss margin increased by 13.1% from 179.1% in 2022 to 202.6% in 2023, driven by the combined effect of revenue decline and increased expenses[161] - Pre-tax loss increased by 7.8% from RMB 486.3 million in 2022 to RMB 524.3 million in 2023[162] - Income tax expenses for both 2022 and 2023 were zero due to business losses[163] Product Revenue Breakdown - Revenue from soy sauce products increased by 9.5% from RMB 23.8 million in 2022 to RMB 26.3 million in 2023, driven by the "one heart with two wings" product strategy and new product development[28] - Revenue from cooking wine products decreased by 2.5% from RMB 176.2 million in 2022 to RMB 171.8 million in 2023, mainly due to adjustments in the distribution network and equipment upgrades[20] - Revenue from rice vinegar products decreased by 16.3% from RMB 17.8 million in 2022 to RMB 14.9 million in 2023, reflecting weak consumer demand and reduced purchasing power[30] - Revenue from other products decreased by 14.9% from RMB 53.8 million in 2022 to RMB 45.8 million in 2023, as the company focused on high-performing products and phased out underperforming ones[30] - Revenue from rice vinegar products decreased by 16.3% from RMB17.8 million in 2022 to RMB14.9 million in 2023, driven by declining sales of high-end products[144] - Revenue from cooking wine products decreased by 2.5% from RMB176.2 million in 2022 to RMB171.8 million in 2023, influenced by distribution network adjustments and equipment upgrades[155] - Revenue from other products decreased by 14.9% from RMB53.8 million in 2022 to RMB45.8 million in 2023, due to downsizing underperforming products[156] - Cooking wine products accounted for approximately 66.4% of the company's total revenue in 2023[128] - Soy sauce products generated approximately RMB26.3 million in sales revenue, representing 10.2% of total revenue in 2023[128] Cost and Expense Management - Cost of sales decreased by 6.1% from RMB 196.8 million in 2022 to RMB 184.7 million in 2023, primarily due to lower revenue and reduced prices of some raw materials[29] - Selling and distribution expenses increased from RMB74.7 million in 2022 to RMB95.2 million in 2023, with the percentage of revenue rising from 27.5% to 36.8%[31] - Administrative expenses increased by 6.1% from RMB44.4 million in 2022 to RMB47.1 million in 2023, driven by higher management salaries and R&D costs[145][159] - Sales and distribution expenses increased from RMB74.7 million in 2022 to RMB95.2 million in 2023, with the expense-to-revenue ratio rising from 27.5% to 36.8% due to higher marketing costs[146] - The company implemented quality improvement and cost control measures to expand economies of scale and reduce product costs[128] Strategic Initiatives and Product Development - The company plans to expand its condiment product portfolio, focusing on cooking wine, soy sauce, rice vinegar, and fermented bean curd, to meet growing customer demand and develop sales channels[2] - The company aims to further develop the horizontal and vertical condiment industry chain, positioning itself as a diversified condiment manufacturer with cooking wine as the leading product[2] - The company is upgrading and innovating production processes, standardizing systems, and optimizing workflows to enhance production efficiency and reduce costs[1] - The company has invested in new production line equipment to improve labor efficiency and strengthen its core competitiveness in the market[1] - The company established a R&D team with external technical professionals and collaborated with universities to enhance product quality and innovate brewing technology[86] - The company successfully developed and launched several new products, improving the technology of soy sauce and soybean paste production lines[86] - The company reconstructed and upgraded production equipment, optimized processes, and purchased new production line equipment to enhance efficiency and reduce costs[95] - The company aims to develop a diversified condiment product structure, focusing on expanding its horizontal and vertical condiment industry chain[97] - The company expanded and developed new products such as hot pot base and oyster sauce under its "grand brand, big single product, national product, and wide-ranged product" strategy[85] - The company remains committed to natural, healthy, and nutritious products, adhering to food safety regulations and integrating food technology with production practices[76][83] - The company focused on developing high-end cooking wine products with good value for money to compensate for other product categories[128] Financial Position and Liabilities - Gearing ratio increased from 273.8% in 2022 to 328.1% in 2023, reflecting higher net debt relative to total equity[18][19] - Total borrowings increased from RMB2,211.6 million in 2022 to RMB2,808.5 million in 2023[61] - Cash and cash equivalents increased to RMB10.1 million as of 31 December 2023, up from RMB9.8 million in 2022[63][67] - Interest-bearing bank and other borrowings totaled RMB2,808.5 million as of 31 December 2023, compared to RMB2,211.6 million in 2022[63][67] - The gearing ratio of the Group was 328.1% as of 31 December 2023, representing a 19.8% increase over 2022[70][80] - Capital commitment as of 31 December 2023 amounted to RMB19.7 million, up from RMB14.8 million in 2022[71] - Inventories with a carrying amount of RMB487.3 million, property, plant and equipment with a carrying amount of RMB189.3 million, and leasehold land with a carrying amount of RMB47.0 million were pledged to secure general banking facilities[73] - Total assets decreased to RMB 1,113,188 thousand in 2023 from RMB 1,123,077 thousand in 2022, a decrease of approximately 0.9%[102] - Total liabilities increased to RMB 3,446,730 thousand in 2023 from RMB 2,931,240 thousand in 2022, an increase of approximately 17.6%[102] - Total deficit increased to RMB 2,333,542 thousand in 2023 from RMB 1,808,163 thousand in 2022, an increase of approximately 29.1%[102] Market Strategy and Distribution - The company expanded its distribution network to fourth and fifth-tier cities across 30 provinces, autonomous regions, and municipalities[128] - The company classified distributors into core and non-core categories in 2023, focusing resources on terminal construction and market development to cultivate all distributors into core distributors[164][165] - The company launched a 2.5L Lao Heng He Huadiao Wine promotion in collaboration with East Buy Holding Limited and multiple influencers to build presence on the Douyin platform[107] - The Group's market strategy in 2023 included a full-scale upgrade of brand and product positioning, logo image, marketing slogans, and product packaging[85] Risk Management and Internal Controls - The company faces risks from significant increases in production costs, including agricultural and sideline product prices, packaging costs, and labor costs[130] - The company faces risks from changes in consumer education, awareness, and habits in the consumption of cooking wine products[130] - The company faces risks from increased market expansion costs and sales expenses compared to expectations[130] - The company faces risks from new products potentially not being recognized by the market in the short term[130] - The company's risk management and internal control systems aim to manage, rather than eliminate, risks of not achieving business objectives, providing reasonable but not absolute assurance[186] - The Board is responsible for maintaining an effective risk management and internal control system, with clear responsibilities, procedures, and high transparency[197] - The Company has established a policy for handling inside information to ensure timely public disclosure and confidentiality before full disclosure[197] Corporate Governance and Committees - The Audit Committee held four meetings in 2023, with all members attending either in person or via teleconference[176] - The Nomination Committee, established in 2013, consists of three members and is responsible for reviewing the Board's structure and composition annually[178][179] - The Audit Committee recommended the re-appointment of Grant Thornton as the external auditor for the financial year ending December 31, 2024, subject to shareholder approval[182] - The Nomination Committee held one meeting in 2023 to review and consider the diversity, structure, size, and composition of the Board, as well as the independence of independent non-executive Directors, and made relevant recommendations to the Board[191] - The remuneration paid or payable to the Company's external auditors, Grant Thornton Hong Kong Limited, for audit services in 2023 was RMB 2,040,000[194] - Shareholders have the right to attend and vote at general meetings, and all resolutions will be voted on, with results published on the Company's and Stock Exchange's websites[199] Food Safety and Quality Control - The company strengthened its food safety control system, implemented a digital traceability system, and established emergency response plans for food safety incidents[93] - The company strengthened its food safety technology protection capability by deepening integration and collaboration between industry, academia, and research facilities[111] - The company upgraded its experimental equipment and made sustained technological breakthroughs to enhance technical support[111] - The company built a whole-process digital food safety traceability system to implement code control of each product[111] - The company formulated emergency plans and disposal plans for food safety accidents to improve and enhance the quality system[111] Investor Relations and Shareholder Communication - The company actively implemented investor relations measures in 2023 and will continue to ensure effective shareholder communication and transparency[167] - The Board is responsible for presenting a balanced and clear assessment of the Group's performance and prospects, with management providing all relevant information to the Board[187] Other Financial Metrics - Other income and gains decreased by 85.5% from RMB 20.7 million in 2022 to RMB 3.0 million in 2023, mainly due to the absence of compensation income and reduced government subsidies[22] - Financing costs decreased by 4.4% from RMB203.9 million in 2022 to RMB194.9 million in 2023 due to the full amortization of finance lease interest expenses[32] - Loss before income tax increased by 7.8% from RMB486.3 million in 2022 to RMB524.3 million in 2023[34] - Net loss attributable to ordinary equity holders increased by 7.8% from RMB486.3 million in 2022 to RMB524.3 million in 2023[35] - Loss per share increased from RMB0.84 in 2022 to RMB0.91 in 2023[36] - Net loss ratio increased from 179.1% in 2022 to 202.6% in 2023, a rise of 13.1%[37] - Other income and gains decreased by 85.5% from RMB20.7 million in 2022 to RMB3.0 million in 2023[40] - Trade receivables increased slightly from RMB20.5 million in 2022 to RMB20.8 million in 2023, with turnover days increasing from 32 to 33 days[49] - Inventories decreased from RMB646.7 million in 2022 to RMB645.9 million in 2023, with base wine inventory decreasing from RMB534.7 million to RMB465.3 million[50][51] - Trade receivables increased from RMB 20.5 million as of December 31, 2022, to RMB 20.8 million as of December 31, 2023, with turnover days increasing from 32 days to 33 days[165]

香 港 交 易 及 結 算 所 有 限 公 司 及 香 港 聯 合 交 易 所 有 限 公 司 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。 Honworld Group Limited 老恒和釀造有限公司* （於開曼群島註冊成立的有限公司） （股份代號：2226） 截 至 二 零 二 三 年 十 二 月 三 十 一 日 止 年 度 全 年 業 績 公 告 財 務 摘 要 * 僅 供 識 別 – 1 – • 截至二零二三年十二月三十一日止年度的收入為人民幣258.8百萬元， 較 二 零 二 二 年 人 民 幣271.6百 萬 元 減 少4.7%。 • 截 至 二 零 二 三 年 十 二 月 三 十 一 日 止 年 度 的 毛 利 為 人 民 幣74.1百 萬 元， 較 二 零 二 二 年 人 民 幣74.8百 萬 元 減 少0.9%。 • 截 至 二 零 二 三 ...

"LAO HENG HE", A BRAND WITH A HISTORY OF MORE THAN 160 YEARS. PANAMA — PACIFIC INTERNATIONAL EXPOSITION GOLD AWARD FOR CONDIMENT PRODUCTS. 「老恒和」，源自傳承，品牌歷史超過160年 巴拿馬博覽會金獎產品 目錄 CONTENTS | 公司資料 | 2 | Corporate Information | | --- | --- | --- | | 管理層討論與分析 | 5 | Management Discussion and Analysis | | 補充資料 | 21 | Supplementary Information | | 簡明綜合中期損益及 | 30 | Condensed Consolidated Interim Statement of Profit or Loss and | | 其他全面收益表 | | Other Comprehensive Income | | 簡明綜合中期財務狀況表 | 31 | Condensed Consolidated Inte ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈的內容 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 因本公佈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。 Honworld Group Limited 老 恒 和 釀 造 有 限 公 司* （於開曼群島註冊成立的有限公司） （股份代號：2226） 截 至 二 零 二 三 年 六 月 三 十 日 止 六 個 月 中 期 業 績 公 佈 財務摘要 • 截至二零二三年六月三十日止六個月的收入約為人民幣127.8百萬元， 較二零二二年同期錄得約人民幣138.5百萬元減少7.7%。 • 截至二零二三年六月三十日止六個月的毛利約為人民幣44.2百萬元， 較二零二二年同期錄得約人民幣51.6百萬元減少14.4%。 • 截至二零二三年六月三十日止六個月本公司普通權益持有人應佔 虧 損 約 為 人 民 幣244.9百 萬 元，較 二 零 二 二 年 同 期 錄 得 約 人 民 幣 214.5百萬元增加14.2%。 ...

Financial Performance - Revenue for the year ended December 31, 2022, amounted to RMB 271.6 million, representing an increase of 7.5% from RMB 252.7 million recorded in 2021[4]. - Gross profit for the year ended December 31, 2022, amounted to RMB 74.8 million, representing an increase of 9.2% from RMB 68.5 million recorded in 2021[4]. - Loss attributable to ordinary equity holders for the year ended December 31, 2022, amounted to RMB 486.3 million, representing an increase of 52.7% from RMB 318.4 million recorded in 2021[4]. - The gross profit margin of the Group's products increased from 27.1% in 2021 to 27.5% in 2022 due to adjustments in product structure and price increases[29]. - The company had a loss attributable to ordinary equity holders of approximately RMB 486.3 million in 2022, an increase of 52.7% compared to RMB 318.4 million in 2021, primarily due to increased finance costs from new borrowings[32][35]. - Loss before income tax increased by 52.7% from RMB 318.4 million to RMB 486.3 million[104]. Market Position and Sales - The Group's offline sales market share was 17.7% in 2022, ranking first in the industry for the fifth consecutive year[12]. - Cooking wine products accounted for approximately 64.9% of total revenue, while soy sauce products generated approximately RMB 23.8 million, representing about 8.8% of total revenue[28]. - Sales revenue in Eastern China increased by approximately RMB 27.9 million or 17.1% compared to the previous year, driven by the Group's efforts to ensure product supply during the Shanghai epidemic[27]. - Revenue from cooking wine products rose by 3.7% to RMB 176.2 million, while revenue from soy sauce products decreased by 8.1% to RMB 23.8 million due to changing consumer preferences[91]. - Revenue from other products surged by 39.7% from RMB 38.5 million to RMB 53.8 million, attributed to a strategic focus on well-performing products[93]. Assets and Liabilities - Total assets as of December 31, 2022, were RMB 1,123.1 million, a decrease from RMB 1,193.8 million in 2021[9]. - Total liabilities as of December 31, 2022, were RMB 2,931.2 million, an increase from RMB 2,511.7 million in 2021[9]. - The Group's total (deficit)/equity as of December 31, 2022, was RMB (1,808.2) million, compared to RMB (1,317.9) million in 2021[9]. - The gearing ratio increased to 273.8% from 220.9%, indicating a rise in financial leverage[84]. Operational Strategies - The Group engaged Shanghai Osens Creative to upgrade brand positioning and marketing strategies, introducing the core concept of "fragrance of time" cooking wine[16]. - The Group has implemented a dual upgrade of software and hardware for quality control, enhancing food safety technology and establishing a digital food safety traceability system[21]. - New production line equipment was purchased to improve labor efficiency, expand production capacity, and reduce production costs[22]. - The company aims to focus on the development of distribution and catering channels in the Yangtze River Delta region to enhance market penetration[29]. - The company is implementing various promotional measures to increase product shelf presence in local communities and towns[31]. Management and Governance - Chen Wei serves as the Chairman of the Board and Executive Director, responsible for overall strategic planning and business operations since September 11, 2020[52]. - Liu Jianbin, the Executive Director and CEO, manages financing activities and overall business operations, appointed on February 2, 2021[54]. - The company is expanding its distribution network and enhancing its overall business operations under the leadership of its executive team[52]. - The management team has a strong background in finance and investment, with key members having extensive experience in banking and asset management[54][57]. - The company is committed to maintaining high standards of governance and financial oversight through its audit committee[57]. Employee and Community Engagement - The total remuneration paid to employees for the year ended December 31, 2022, was approximately RMB 42.5 million, an increase from RMB 39.5 million in 2021[182]. - As of December 31, 2022, the company had approximately 535 full-time employees, up from 490 in 2021[181]. - Employee benefits contributions amounted to RMB 56 million in 2022, compared to RMB 40 million in 2021, reflecting a rise of 40%[185]. - The Group made charitable donations totaling RMB 70,251 during the year 2022[189]. Audit and Compliance - The auditor issued a qualified opinion on the Group's consolidated financial statements for the year ended December 31, 2022, due to insufficient audit evidence regarding the cost of sales for the year ended December 31, 2021[190]. - The Management believes that, aside from the qualified items, the consolidated financial statements for the year ended December 31, 2022, present a reasonable view of the Group's affairs[196]. - The Audit Committee confirmed that there were no disagreements with Management regarding the Audit Qualification for the year ended December 31, 2022[198]. - The Management and Audit Committee agreed that the technical audit qualification related to FY2021 will be removed in the year ending December 31, 2023, as there are no audit issues for the year ended December 31, 2022[199].