唐宫中国2023 年报

Corporate Information 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. CHAN Kin Shun(appointed on 18 April 2023) Mr. CHEUNG Kin Ting Alfred(resigned on 18 April 2023) COMPANY SECRETARYMr. WONG Chung Yeung AUTHORISED REPRESENTATIVESMr. CHAN Man WaiMr. WONG Chung Yeung MEMBERS OF AUDIT COMMITTEE Mr. KWONG Ping Man(Chairman)Mr. KWONG Chi KeungMr. CHAN Kin Shun MEMBERS OF NOMINATION COMMITTEE Mr. KWONG Ping Man(Chairman)Mr. KWONG Chi KeungMr. CHAN Kin Shun MEMBERS OF REMUNERATION COMMITTEE Mr. KWONG Chi Keung(Chairman)Mr. KWONG Ping ManMr. CHAN Kin Shun REGISTERED OFFICE Cricket Square, Hutchins DriveP.O. Box 2681Grand Cayman KY1-1111Cayman Islands Cricket Square, Hutchins DriveP.O. Box 2681Grand Cayman KY1-1111Cayman Islands HEAD OFFICE AND PRINCIPAL PLACE OFBUSINESS IN HONG KONG 103 Unit 3, 10th FloorGreenfield TowerConcordia PlazaNo. 1 Science Museum RoadKowloonHong Kong 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 HONG KONG BRANCH SHARE REGISTRAR ANDTRANSFER OFFICE 1617 Tricor Investor Services Limited17/F, Far East Finance Centre16 Harcourt RoadHong Kong PRINCIPAL BANKERS Agricultural Bank of China LimitedBank of China LimitedHang Seng Bank Limited AUDITORS Ernst & YoungCertified Public AccountantsRegistered Public Interest Entity Auditor LEGAL ADVISORAs to Hong Kong law:CFN Lawyers As to the People’s Republic of China’s law:Beijing Bairui (Shenzhen) Law Firm 1181 STOCK CODE The Stock Exchange of Hong Kong Limited:1181 www.tanggong.cn WEBSITE www.tanggong.cn The above corporate information is up to 27 March 2024. Calendar On behalf of the Board, I would like to present the annual reportof the Group for the year ended 31 December 2023 (the “Year”). Withover thirty years of trust from our customers and ourunwaveringcommitment to run a happy dining enterprise,westeadily emerged from the shadows cast by the pandemic overthe past three years. Although the market environment remainschallenging,we firmly believe that continuous innovation andreformwill allow us to develop in a more stable and effectiveway. During the Year, we have taken various innovative actionsboth externally and internally. In addition to upgrading our brand,introducing new business models and new brands operated underjoint venture, we have also made internal management reforms,injecting fresh ideas and methods into the Group’s managementsystem to enhance efficiency. In recent years, the food and beverage consumption market hasundergone significant changes, the economy is unstable. We haverevieweddifferent brands during the Year and made distinctimprovements,subject to each of their characteristics andcustomerbase.Take our core brand,“Tang Palace”,as anexample, we reckon it would be best to strengthen the existingoperations,solidify our customer base,and enhance customerloyalty,after taking into account its broad consumer base anddiversedining scenarios.Consequently,since 2022,we haveprogressivelyupgraded products and services across all ourbranches, focusing on enhancing the overall customer experienceand creating memorable service moments to revitalise our brand.This strategic brand revitalisation has garnered positive feedback,and our business has steadily rebounded in 2023. Regarding “Tang’s Cuisine”, our goal is to provide exquisite diningexperiencesand high-quality service.We prioritise enhancingcreativityand professionalism in our offerings while providinguniqueactivities that set us apart.Our business expansionstrategytargets cities with significant consumer potential.Currently,both our Shenzhen and Chengdu branches areexperiencing impressive growth. Wehave consistently embraced culinary diversification as ourstrategy,continuously exploring new business models.“SoupDelice”is a streamlined business model,targeting airporttravelers, it is evolved from our rich experience in dim sum andsoups,and our dedication in promoting humanistic culture.Leveraging Shanghai as one of our core regions, we benefit fromlocal support in terms of products and personnel, the benefit ofthe Group’s multi-brand operation is fully utilized. Currently, ourbusinessis steadily on the rise,prompting us to furtherinvestigate its expansion feasibility. Chinese cuisine is incrediblydiverse. Extending beyond Cantonese cuisine, we have introducedvariousculinary styles in recent years,such as Huaiyang andSichuan cuisines, through joint ventures to enrich our portfolio. AsChinesecuisine gains prominence internationally,we believeregionalexpansion lays the groundwork for ventu