唐宫中国年报2020

2Corporate Information5Calendar6Chairman’s Statement12Management Discussion and Analysis24Biographies of Directors and Senior Management34Corporate Governance Report56Directors’ Report87Independent Auditor’s Report95Consolidated Statement of Profit or Loss96Consolidated Statement of Comprehensive Income97Consolidated Statement of Financial Position98Consolidated Statement of Changes in Equity100Consolidated Statement of Cash Flows102Notes to the Financial Statements224Summary Financial Information226Glossary Corporate Information公司資料 董 事 DIRECTORS Executive Directors Ms. WENG Peihe(Chairman)Mr. YIP Shu MingMr. CHAN Man WaiMr. KU Hok ChiuMr. CHEN Zhi Xiong(Chief Executive Officer)Mr. WONG Chung Yeung(Chief Financial Officer) Independent Non-Executive Directors Mr. KWONG Chi KeungMr. KWONG Ping ManMr. CHEUNG Kin Ting Alfred COMPANY SECRETARYMr. WONG Chung Yeung 公 司 秘 書 AUTHORISED REPRESENTATIVESMr. CHAN Man WaiMr. WONG Chung Yeung 授 權 代 表 審 核 委 員 會 成 員 MEMBERS OF AUDIT COMMITTEE Mr. KWONG Ping Man(Chairman)Mr. KWONG Chi KeungMr. CHEUNG Kin Ting Alfred 提 名 委 員 會 成 員 MEMBERS OF NOMINATION COMMITTEE Mr. CHEUNG Kin Ting Alfred(Chairman)Mr. KWONG Chi KeungMr. KWONG Ping Man 薪 酬 委 員 會 成 員 MEMBERS OF REMUNERATION COMMITTEE Mr. KWONG Chi Keung(Chairman)Mr. KWONG Ping ManMr. CHEUNG Kin Ting Alfred 註 冊 辦 事 處 REGISTERED OFFICE Cricket Square, Hutchins DriveP.O. Box 2681Grand Cayman KY1-1111Cayman Islands Cricket Square, Hutchins DriveP.O. Box 2681Grand Cayman KY1-1111Cayman Islands 總 辦 事 處 及 香 港 主 要 營 業 地 點 HEAD OFFICE AND PRINCIPAL PLACE OFBUSINESS IN HONG KONG 103 Unit 3, 10th FloorGreenfield TowerConcordia PlazaNo. 1 Science Museum RoadKowloonHong Kong 開 曼 群 島 股 份 過 戶 處 CAYMAN ISLANDS SHARE REGISTRAR ANDTRANSFER OFFICE Conyers Trust Company (Cayman) LimitedCricket Square, Hutchins DriveP.O. Box 2681Grand Cayman KY1-1111Cayman Islands Conyers Trust Company (Cayman) LimitedCricket Square, Hutchins DriveP.O. Box 2681Grand Cayman KY1-1111Cayman Islands 香 港 股 份 過 戶 登 記 分 處 HONG KONG BRANCH SHARE REGISTRAR ANDTRANSFER OFFICE 18354 Tricor Investor Services LimitedLevel 54, Hopewell Centre183 Queen’s Road EastHong Kong Corporate Information公司資料 主 要 往 來 銀 行 PRINCIPAL BANKERS Agricultural Bank of China LimitedBank of China LimitedHang Seng Bank Limited 核 數 師 AUDITORS Ernst & YoungCertified Public AccountantsRegistered Public Interest Entity Auditor 法 律 顧 問 LEGAL ADVISOR As to Hong Kong law:CFN Lawyers in association with Broad & Bright As to the People’s Republic of China’s law:Beijing Bairui (Shenzhen) Law Firm STOCK CODE 股 份 代 號 1181 The Stock Exchange of Hong Kong Limited:1181 網 站www.tanggong.cn WEBSITEwww.tanggong.cn Embracing The New Norm Of CateringEmbracing The New Norm Of CateringThrough Innovative Nurturing OfThrough Innovative Nurturing OfAll-round TalentsAll-round Talents Marching Towards Tang Palace’s PearlMarching Towards Tang Palace’s PearlAnniversary By AccomplishingAnniversary By AccomplishingDreams With LoveDreams With Love 創 新 培 育 高 效 全 才 ，迎 餐 飲 新 常 態成 就 夢 想 與 愛 同 行 ，邁 唐宮三 十 載 On behalf of the Board, I would like to present the annual reportof the Group for the year ended 31 December 2020. 9032.8% 2020 has been an extraordinary year. The outbreak of the novelcoronavirusdisease(the“pandemic”)has severely impacted theglobaleconomy,the food and beverage market,and businessoperations. In the first quarter of 2020, a first negative year-over-yeargrowthin GDP since the 1990s was recorded in the PRC.Therevenue in the food and beverage industry in the PRC decreased by32.8% in the first half of 2020, ending a years-long growth trend. Intheface of such unprecedented challenges,we adhered to theoperating philosophy of “Operating altruistically, Devoting relentlessefforts, and Conveying happiness”. While prioritizing the security ofour employees and customers’ safety and health, we made use ofthe new consumption mode under the norms of the pandemic tocapturemarket opportunities and satisfy consumers’pursuit of ahealthy,environmentally-friendly and high quality life.Bydemonstratingthe unlimited motivation,execution ability andcreativity of the Company and its employees, the Company was ableto achieve sustainable development. 適 應 餐 飲 新 常 態 ADAPTING TO THE NEW NORM IN THECATERING INDUSTRY In 2020, in response to the new lifestyle of consuming at homeand reducing social gatherings, as well as consumers’ growingconcernfor food safety and health,the Group endeavored todevelopfour profitable models(dine-in consumption,publicdomainplatform takeaway,channelized product retail,privatedomain platform takeaway and social marketing) to facilitate theretail and e-commerce of food products through online and offlinelinkages.We accelerated the development of our“One store,Threeshops”strategy in terms of product design,operationalsupportand marketing strategy.We developed diversifiede-commerceproducts and platforms to cater to differentconsumergroups and scenarios with innovat