Stock code 股份代號 : 09985.HK(Incorporated in the Cayman Islands with Limited Liability)ANNUAL REPORT2022（於開曼群島註冊成立的有限公司）年報ANNUAL REPORT 2022年報 2Company Profile公司簡介3Definitions釋義6Corporate Information公司資料8Financial Overview財務概覽10Chairman’s Statement主席報告14Management Discussion and Analysis管理層討論與分析33Corporate Governance Report企業管治報告57Biographies of Directors and Senior Management董事及高級管理人員履歷66Report of the Directors董事會報告90Independent Auditor’s Report獨立核數師報告100Consolidated Statement of Profit or Loss合併損益表101Consolidated Statement of Comprehensive Income合併綜合收益表102Consolidated Balance Sheet合併資產負債表104Consolidated Statement of Changes in Equity合併權益變動表106Consolidated Statement of Cash Flows合併現金流量表108Notes to the Consolidated Financial Statements合併財務報表附註Contents目錄 Company Profile公司簡介2WEILONG Delicious Global Holdings LtdAnnual Report 2022 WEILONG Delicious Global Holdings Ltd (the “Company”) and its subsidiaries (the “Group”, “the Group”,“we” or “us”) are a leading spicy snack food enterprise integrating R&D, production, processing and sales in China.Based on traditional formulas, the Group started the Chinese seasoned flour products (also commonly known as Latiao (辣條)) industry, created our first Latiao (辣條) snack in 2001, leading the standards construction of Latiao industry. With our outstanding product development capabilities, the Group has successfully diversified into vegetable products, bean-based products and others, including Konjac Shuang (魔芋爽), Fengchi Kelp (風吃海帶), 78° Braised Egg (78°滷蛋) and others.Adhering to our product development philosophy of “maximizing the intrinsic value of nature with an industrialized approach”, the Group continuously upgrades existing products and launches new products, focuses on quality through establishing an industry-leading production system and strict quality assurance system.We are a popular snack food brand among young consumers in China. The main consumer groups is young people aged 35 and below. Through interesting and topical marketing methods, we have been awarded the 2022 GEN-Z’s Favorite Brands “Inspiration and Vitality Brand”, as well as the 2022 Global Innovativeness Review “Annual Consumer Brand” by TMT Post.The Group has an omni-channel sales and distribution network that effectively reaches young consumers, we have quickly adapted to the evolving purchasing behavior of consumers and expanded to supermarkets, chained convenience stores and e-commerce channels, which have wide exposure to young consumers.We are committed to making authentic Chinese gourmet more entertaining, casual, convenient and affordable, thereby continuously introducing delicious snack food products for our consumers and offering them a cheerful consumption experience.The Group was listed on the Main Board of the Hong Kong Stock Exchange (stock code: 9985.HK) on December 15, 2022, and was selected as a constituent stock of the Hang Seng Composite Index, the Hang Seng Composite Mid-Cap Index and the Hang Seng Consumer Price Index by Hang Seng Indexes Company Limited on February 24, 2023, with effect from March 13, 2023.衛龍美味全球控股有限公司（「本公司」）及其附屬公司（「本集團」或「我們」）是中國領先的集研發、生產、加工及銷售為一體的辣味休閒食品企業。本集團以傳統美食為基礎開創了中國調味麵製品（俗稱「辣條」）行業，於2001年開創出第一根辣條，並引領了辣條行業標準建設。憑藉出眾的品類拓展能力，本集團已成功擴展至蔬菜製品、豆製品及其它產品等品類，推出了包括魔芋爽、風吃海帶、78º滷蛋等單品。秉承「以工業化思維，讓美食原點的價值最大化釋放」的產品開發理念，本集團持續升級現有產品及推出新產品，專注品質，建立了行業領先的生產體系及嚴格的質量保障體系。我們是倍受中國年輕消費者喜愛的休閒食品品牌，主要消費客群為35歲及以下的年輕人，通過趣味性、話題性的營銷方式，我們榮獲2022 GEN-Z年度喜愛「靈感活力品牌」，同時亦獲得鈦媒體2022全球創新評選「年度消費品牌」。本集團擁有有效觸達年輕消費者的全渠道銷售及經銷網絡，緊隨消費者購買行為的演變，我們迅速擴張到廣泛覆蓋年輕消費者的商超、連鎖便利店及電商等渠道。我們致力於讓中國傳統美食娛樂化、休閑化、便捷化、親民化，從而不斷為消費者創造美味的休閒食品和愉悅的消費體驗。本集團於2022年12月15日在香港聯交所主板上市（股份代號：9985.HK），並於2023年2月24日獲香港恒生指數有限公司選中，納入恒生綜合指數、恒生綜合指數中型股指數和恒生消費指數的成分股，自2023年3月13日起生效。 Definitions釋義3衛龍美味全球控股有限公司2022 年報 “Articles of Association” or “Articles”the articles of association of the Company, as amended, which was effective on the Listing Date「公司章程」或「章程」 本公司於上市日期生效的公司章程（經修訂）“Audit Committee”the audit committee of the Company「審核委員會」 本公司審核委員會“Board” or “Board of Directors”the board of Directors of the Company「董事會」 本公司董事會“Cayman Companies Act” or “Companies Act”the Companies Act, Cap. 22 (Law 3 of 1961, as consolidated and revised) of the Cayman Islands, as amended, supplemented or otherwise modified from time to time「開曼群島《公司法》」或「《公司法》」 開曼群島法律第22章《公司法》（1961年第3號法例，經合併及修訂）（經不時修訂、補充或以其他方式修改）“China” or “PRC” or “Mainland China”the People’s Republic of China, excluding, for the purpose of this annual report, Hong Kong, Macau and Taiwan「中國」或「中國內地」 中華人民共和國，就本年度報告而言，不包括香港、澳門及台灣“Controlling Shareholder(s)”has the meaning ascribed thereto in the Listing Rules, and unless the context otherwise requires, refers to Mr. LIU Weiping, Mr. LIU Fuping, HH Global Capital, Amused Tow