捷荣国际控股二零二三年中期报告

Stock Code2119(Incorporated under the laws of Bermuda with limited liability) 2023 CONTENTS 2Corporate Information5Management Discussion and Analysis16Independent Review Report19Condensed Consolidated Statement of Profit or Loss20Condensed Consolidated Statement of Comprehensive Income21Condensed Consolidated Statement of Financial Position23Condensed Consolidated Statement of Changes in Equity25Condensed Consolidated Statement of Cash Flows28Notes to the Condensed Consolidated Financial Statements65Other Information Corporate Information BOARD OF DIRECTORS Executive Directors Mr. Wong Tat Tong(Chairman)Ms. Fan Yee ManMr. Kam Chun Pong Bernard Non-Executive Directors Timothy John Collins Mr. Timothy John CollinsMr. Lee Tak Wah Independent Non-Executive Directors Mr. Tang Kwai ChangMr. Wong Man FaiMr. Lok Kung Chin Hardy BOARD COMMITTEES Audit Committee Mr. Tang Kwai Chang(Chairman)Mr. Wong Man FaiMr. Lok Kung Chin Hardy Nomination Committee Mr. Wong Tat Tong(Chairman)Mr. Wong Man FaiMr. Lok Kung Chin Hardy Remuneration Committee Mr. Wong Man Fai(Chairman)Mr. Wong Tat TongMr. Tang Kwai Chang Corporate Information (continued) COMPANY SECRETARYMs. Fan Yee Man(HKICPA) AUTHORISED REPRESENTATIVES Ms. Fan Yee ManMr. Kam Chun Pong Bernard REGISTERED PUBLIC INTERESTENTITY AUDITOR Ernst & Young PRINCIPAL BANKS Bank of China (Hong Kong) LimitedHang Seng Bank Limited REGISTERED OFFICE IN BERMUDA Victoria Place, 5th Floor31 Victoria StreetHamilton HM 10Bermuda Victoria Place, 5th Floor31 Victoria StreetHamilton HM 10Bermuda HEAD OFFICE AND PRINCIPAL PLACEOF BUSINESS IN HONG KONG 15–33111 F-J Flats F-J, 11th Floor, Block 1Kwai Tak Industrial Centre15–33 Kwai Tak StreetKwai ChungNew TerritoriesHong Kong Corporate Information (continued) PRINCIPAL SHARE REGISTRAR ANDTRANSFER OFFICE IN BERMUDA Ocorian Management (Bermuda) LimitedVictoria Place, 5th Floor31 Victoria StreetHamilton HM 10Bermuda Ocorian Management (Bermuda) LimitedVictoria Place, 5th Floor31 Victoria StreetHamilton HM 10Bermuda HONG KONG SHARE REGISTRAR 1617 Tricor Investor Services Limited17th Floor, Far East Finance Centre16 Harcourt RoadHong Kong COMPANY’S WEBSITE www.twcoffee.com www.twcoffee.com STOCK CODE 2119 2119 Management Discussion and Analysis BUSINESS REVIEW B2B TsitWing International Holdings Limited(the“Company”),together with its subsidiaries(collectively, the “Group”), is a leading integratedbusiness-to-business(“B2B”)coffee and blacktea solutions provider in Hong Kong, Macau andMainlandChina providing one-stop coffee andteasolutions to commercial customers thatcoverthe entire coffee and tea procurement,processing and distribution value chain. 20236 30359.420226 30329.030.49.2%2022630321.731.29.7%2023630352.920226307.30.811.0%20236 306.520226 3034.3%20236 3032.3% Forthe six months ended 30 June 2023,theGrouprecorded a total revenue of HK$359.4million,representing an increase of HK$30.4million, or 9.2%, from HK$329.0 million for thesix months ended 30 June 2022. Revenue fromthebeverage solutions segment increased byHK$31.2 million, or 9.7%, from HK$321.7 millionforthe six months ended 30 June 2022 toHK$352.9million for the six months ended30 June 2023, which was mainly attributable tothe increase in revenue derived from Hong KongandMainland China.Revenue from the foodproducts segment decreased by HK$0.8 million,or11.0%,from HK$7.3 million for the sixmonths ended 30 June 2022 to HK$6.5 millionfor the six months ended 30 June 2023, whichwasattributable to the decrease in revenuederived from Hong Kong. While gross profit wasmainly affected by the increase in raw materialcosts,gross profit margin slightly decreasedfrom 34.3% for the six months ended 30 June2022to 32.3%for the six months ended30 June 2023. Management Discussion and Analysis (continued) BUSINESS PROSPECT 2 Inearly February this year,the Chinesegovernmentallowed the full resumption ofnormaltravel between Hong Kong and thePeople’s Republic of China (“PRC”). The Groupisin full force to take off together with theeconomies of these two places as it has beenplanning ahead, adjusting its business strategiesand enhancing its operational capabilities, duringtheCOVID-19 pandemic to cater for therebound of business when life returns to normal. 20234 InApril 2023,Dah Chong Hong FoodInternational Holdings Limited (“DCH”), becameastrategic substantial shareholder of theCompany(the“Shareholder(s)”).Robustattempts have been made by the managementofthe Group and DCH to explore futurecollaboration. The overall direction and target setforthe future collaboration is to leverage oneachother’s competitive strength to captureupside business opportunities in order to drivegrowth,achieve synergy in operation andoptimise cost efficiency. Management Discussion and Analysis (continued) 4 On the premises of strengths of each other, thecollaboration of the Group and DCH would be inthe following 4 dimensions: 1. 1.Bygeographic area:with the PRC andHong