天臣控股2023年报

(Incorporated in Bermuda with limited liability)Stock Code: 1201 Corporate InformationFinancial SummaryChairman’s StatementManagement Discussion and AnalysisBiographical Details of Directors and SeniorManagementDirectors’ ReportCorporate Governance ReportIndependent Auditor’s ReportConsolidated Statement of Profit or Loss andOther Comprehensive IncomeConsolidated Statement of Financial PositionConsolidated Statement of Changes in EquityConsolidated Statement of Cash FlowsNotes to the Consolidated Financial Statements2457111528434850525355 CORPORATE INFORMATION EXECUTIVE DIRECTORS Mr. Tin Kong(Chairman)Ms. Cheng Hung MuiMr. Chan WeiMs. Liu LiuMs. Yu Xiaolei (appointed on 1 October 2023) INDEPENDENT NON-EXECUTIVEDIRECTORS Dr. Ng Ka WingMr. See Tak WahMr. Wang Jinlin AUDIT COMMITTEE Mr. See Tak Wah(Chairman)Dr. Ng Ka WingMr. Wang Jinlin REMUNERATION COMMITTEE Dr. Ng Ka Wing(Chairman)Mr. Tin KongMr. See Tak WahMr. Wang Jinlin NOMINATION COMMITTEE Mr. Tin Kong(Chairman)Dr. Ng Ka WingMr. See Tak WahMr. Wang Jinlin INTERNAL CONTROL COMMITTEE Mr. Tin Kong(Chairman)Dr. Ng Ka WingMr. See Tak WahMr. Wang Jinlin AUTHORISED REPRESENTATIVESMr. Tin KongMr. Chan Wei COMPANY SECRETARYMr. Chan Wei 2Tesson Holdings LimitedAnnual Report 2023 CORPORATE INFORMATION PRINCIPAL SHARE REGISTRAR ANDTRANSFER OFFICE IN BERMUDA Conyers Corporate Services (Bermuda) LimitedClarendon House, 2 Church StreetPO Box HM 1022Hamilton HM DX, Bermuda Conyers Corporate Services (Bermuda) LimitedClarendon House, 2 Church StreetPO Box HM 1022Hamilton HM DX, Bermuda BRANCH SHARE REGISTRAR ANDTRANSFER OFFICE IN HONG KONG 183171712-1716 Computershare Hong Kong Investor Services LimitedShops 1712–1716, 17/F, Hopewell Centre183 Queen’s Road EastWanchai, Hong Kong REGISTERED OFFICE Clarendon House2 Church StreetHamilton HM 11Bermuda Clarendon House2 Church StreetHamilton HM 11Bermuda HEAD OFFICE AND PRINCIPAL PLACE OFBUSINESS Room 401A, Empire Centre68 Mody RoadTsim Sha TsuiKowloonHong Kong 68401A PRINCIPAL BANKERS Bank of China (Hong Kong) LimitedChina CITIC Bank International Limited AUDITOR 3852 23 ZHONGHUI ANDA CPA Limited23/F, Tower 2, Enterprise Square Five38 Wang Chiu Road, Kowloon BayKowloonHong Kong www.tessonholdings.com WEBSITEwww.tessonholdings.com FINANCIAL SUMMARY A summary of the results and of the assets and liabilities of the Group for thelast five financial years, as extracted from the published audited consolidatedfinancial statements and restated/reclassified as appropriate, is set out below: ASSETS AND LIABILITIESNon-current assetsCurrent assetsCurrent liabilitiesNon-current liabilities CHAIRMAN’S STATEMENT On behalf of the board (the “Board”) of directors (the “Directors”), I herebypresent the operational results of Tesson Holdings Limited (the “Company”)together with its subsidiaries (the “Group”) for the year ended 31 December2023 to the shareholders of the Company (the “Shareholders”). During the year, the Group focuses on the manufacturing of lithium ion batteryproducts. Sales had been increased by HK$34,760,000 to HK$129,159,000while gross profit narrowed down to approximately HK$2,192,000. Withthe implementation of cost-control policy, loss for the year from continuingoperation dropped by HK$23,668,000 to HK$101,013,000. 34,760,000129,159,0002,192,00023,668,000101,013,000 Reviewing the development path of new energy market in the People’sRepublic of China (the “PRC”), significant fluctuation was seen, with bothopportunities and challenges year by year. In previous years, stimulated by thesubsidising policies at the time being and the increase in public awareness ofgreen energy application and importance, demand for new energy vehiclesin the PRC, as well as other electrical products increased significantly,multiple small and medium size battery manufacturers then entered into themarket, creating a fiercely competitive industrial environment. Strong batteryproducts demand led to material shortage and pushed up material price, alsoproduction cost. 34%50% In 2023, the new energy market experienced a rapid change, new challengeshad emerged one after another. Economic performance in the PRC wasrecovering from previous downturn, overall demand growth for batteryproducts was lower than expected, but still reached a growth of more than34%. Certain leading battery manufacturers entered into destocking cycle,which had further eliminated numbers of small battery manufacturers from themarket. As a result, raw material was over-supplied in the year, leading to adecline in raw material price. A price war on battery products was observed,which had an accumulated drop of more than 50% at the end of 2023,profitability was squeezed. Notwithstanding the fact that the Group had also adjusted product price underthe strong market competition, with the collective efforts of all members of theGroup, sales of battery products had been increased by approximately 38% in2023. We believed the considerable growt