西藏水资源中期报告2023

目錄CONTENTS ABOUT THE GROUP 關於集團 ABOUT THE GROUP 西藏水資源有限公司（股份代號：1115）（「本公 司」， 與 其 附 屬 公 司 一 併 合 稱「本 集 團」）是一家秉持著向世界提供健康、優質、富有西藏特色產品的中國高端水飲企業。集團自2007年成立以來，憑藉西藏優質天然飲用水資源和西藏特色文化優勢，主要從事包裝飲用水的製造、營銷和品牌管理並於2011年6月30日在香港聯合交易所有限公司（「聯交所」）主板上市。集團旗下的「5100」品牌是中國知名高端礦泉水品牌，水源位於海拔5,100米的西藏念青唐古拉山脈，是世界珍惜的優質複合型礦泉水水源，不僅獲得中國優質礦泉水源地稱號，也是中國地理標誌保護產品，在中國大陸和港澳地區擁有廣泛的分銷網絡。集團在發展過程中進一步多元化產品組合，於二零一二年並購優質西藏特 色 啤 酒 的 業 務。 目 前 已 經 推 出 多 個 廣 受好評的西藏特色品牌，即「卓瑪泉」、「格桑泉」、「青稞啤酒」及「西藏啤酒」。 TIBETWATER RESOURCES LTD.(stock code:1115)(the“Company”,together with its subsidiaries,the “Group”) is a Chinese premium drinkingwater company that upholds the mission of providing healthy, high-quality,Tibetan-style products to the world. Since its establishment in 2007, by virtueof Tibet’s high-quality natural drinking water resources and Tibetan culturaladvantages, the Group is mainly engaged in the manufacture, marketingand brand management of packaged drinking water and was listed on theMain Boardof The Stock Exchange of Hong Kong Limited(the“StockExchange”) on 30 June 2011. The “5100” brand under the Groupis a well-known premium mineral water brand in China. The water sourcelocated in the Nyainqentanglha Plateau in Tibet at an altitude of 5,100meters is the world’s cherished compound-type mineral water source, notonlyrecognized as China’s high-quality mineral water source,but alsoChina’s geographical indications protection product(s), with an extensivedistributionnetwork in mainland China,Hong Kong and Macau.In thecourseof development,the Group has further diversified its productportfolio and acquired the business of premium Tibetan specialty beer in2012. At present, a number of well-received Tibetan specialty brands havebeen launched, namely “Zhuoma Spring”, “Gesang Spring”, “Green Barley Beer” and “Tibet Beer”. 我們堅持秉承最嚴格的質量品控，向世界提供最健康、最優質的特色產品，源自西藏、走向世界，致力成為世界一流的高端快消水飲公司。 By adhering to the most stringent quality control, we provide the healthiestspecialty products with the best quality globally. With our origin in Tibet,wereach out to the world and are committed to being a world-classpremium drinking water company. 我們的業務方針 OUR BUSINESS PRINCIPLES 我們對客戶、員工、業務及品牌充滿熱忱 We are passionate about our customers, our people, our business and ourbrands 我們履行承諾，並深信建立長遠關係的價值遠勝短期的利益 We honour our commitments, and we value long-term relationships overshort-term gain 我們重視多元化，以尊嚴、尊重和公平機會原則對待每個人 We value diversity, and we treat everyone with dignity, respect and equalityof opportunity 我們致力向全世界提供最好的水飲 We are dedicated to serving the best quality drinking water to the world FINANCIAL HIGHLIGHTS財務摘要 MANAGEMENT DISCUSSION AND ANALYSIS BUSINESS REVIEW 業務回顧 In the first half of 2023, the Group continued to be committed to thedevelopment of Tibet’s water resources industry and beer industry, strivedtoenhance customer experience and optimized channel expansion sothat Tibet’s unique and quality products could reach more consumers andpotential consumers. 在二零二三年上半年，本集團繼續致力於西藏水資源產業及啤酒產業的發展，努力提升客戶體驗，優化渠道擴展，使西藏的特色優質產品觸達更多的消費者及潛在消費者。 Theeconomic restart in the first half of 2023 led to increased flow ofpeople and social gatherings, and sales continued to recover. The majormarketchannels of packaged drinking water products of the Group,including airlines, hotels, cinemas, restaurants and entertainment venues,saw a recovery in consumer flow across the board, with significant growthin sales volume and an increase of 63% in revenue year over year. Thebeerbusiness segment has been implementing further strategies topromote our own brand, segment consumers, actively develop and enrichproductcategories,and create differentiated market positioning,suchas the market entry of a new brand, “Tibet Beer”, which was producedand sold starting from the second half of 2022, as a new growth point ofperformance. At the same time, the income from barley beer categoriesincreased.Based on strategic executions,the proportion of cooperativeproducts in total sales reduced from 39% in 2022 to 0.1% in the first halfof 2023. As a result, the overall sales volume and sales of the Group’s beerproducts both declined in the first half of 2023. 二零二三年上半年經濟重啟，增加了人員流動 和 社 交 聚 會， 銷 售 持 續 復 蘇， 本 集 團 的包裝飲用水產品主要市場渠道包括航空、酒店、 院 線、 餐 飲 和 娛 樂 場 所 等 的 客 流 量 均全 面 回 升， 銷 量 有 顯 著 增 長， 收 入 同 比 增長63%。 啤 酒 業 務 分 部 進 一 步 實 施 提 升 自有品牌的戰略，細分市場消費者，積極研發並豐富產品品類，創造差異化市場定位，例如自二零二二年下半年開始生產銷售的新品牌「西 藏 啤 酒 」進 入 市 場 成 為 新 的 業 績 增 長點。同時青稞啤酒品類收入增加。基於戰略措 施， 合 作 產 品 佔 總 銷 售 額 的 比 例 從 二 零二二年的39%減少到二零二三年上半年的0.1%。因此，二零二三年上半年集團啤酒產品的整體銷量及銷售額均有下降。 二零二三年上半年，本集團在西藏的銀行融資 規 模 有 所 下 降。 本 集 團 也 積 極 利 用 和 發揮上市公司境外融資平台的優勢，二零二三年初成功完成一次股權融資，為穩定集團業務運營提供了有力支持。本公司的股東們通過積極參與融資活動以及給予實際投入充分展現出對集團未來發展的認可和信心。本集團管理層始終堅信，以回歸產品為基石，以提升客戶體驗為目標，以深耕品牌價值為導向，以為股東謀求最大收益為核心，聚勢謀遠。 In the first half of 2023, the scale of the Group’s bank financing in Tibetdecreased.The Group also actively utilized and took advantage of theoffshore financing platform of listed company and successfully completedanequity financing in early 2023,which provided strong support forstabilising