天长集团2023年年报

CONTENTS Independent Auditor’s ReportConsolidated Income StatementConsolidated Statement of Comprehensive IncomeConsolidated Statement of Financial PositionConsolidated Statement of Changes in EquityConsolidated Statement of Cash FlowsNotes to the Consolidated Financial StatementsFive Years Financial Summary7787888991929318824612485067 Corporate InformationChairman’s StatementManagement Discussion and AnalysisEnvironmental, Social And GovernanceReportDirectors and Senior ManagementCorporate Governance ReportDirectors’ Report CORPORATE INFORMATION BOARD OF DIRECTORS Executive Directors Mr. Chan Tsan Lam(Chairman)Ms. Poon Po Han LisaMs. Chan Yin Yan Independent Non-Executive Directors Mr. Ng Chi WaiMr. Hung Chun LeungMr. Chan Bing Kai COMPANY SECRETARY Ms. Poon Po Han Lisa AUTHORISED REPRESENTATIVES Mr. Chan Tsan LamMs. Poon Po Han Lisa AUDIT COMMITTEE Mr. Ng Chi Wai(Chairman)Mr. Hung Chun LeungMr. Chan Bing Kai REMUNERATION COMMITTEE Mr. Chan Bing Kai(Chairman)Mr. Chan Tsan LamMr. Ng Chi Wai NOMINATION COMMITTEE Mr. Chan Tsan Lam(Chairman)Mr. Hung Chun LeungMr. Ng Chi Wai REGISTERED OFFICE Cricket SquareHutchins DriveP.O. Box 2681Grand Cayman KY1-1111Cayman Islands Cricket SquareHutchins DriveP.O. Box 2681Grand Cayman KY1-1111Cayman Islands www.hktcgroup.com WEBSITE OF THE COMPANY www.hktcgroup.com PRINCIPAL PLACE OF BUSINESS IN THE PEOPLE’SREPUBLIC OF CHINA (“PRC”) 2 2 XingDe East RoadDongjiang High New TechnologyIndustrial Park, Zhongkai Hi-Tech District,Huizhou City, Guangdong Province,China HEADQUARTERS AND PRINCIPAL PLACE OF BUSINESS INHONG KONG 55B136 Workshop Unit 613th Floor, Block BHoi Luen Industrial Centre55 Hoi Yuen RoadKwun TongHong Kong HONG KONG SHARE REGISTRAR AND TRANSFER OFFICE 1617 Tricor Investor Services Limited17/F, Far East Finance Centre16 Harcourt RoadHong Kong CAYMAN ISLANDS PRINCIPAL SHARE REGISTRAR ANDTRANSFER OFFICE Conyers Trust Company (Cayman) LimitedCricket SquareHutchins DriveP.O. Box 2681Grand Cayman KY1-1111Cayman Islands Conyers Trust Company (Cayman) LimitedCricket SquareHutchins DriveP.O. Box 2681Grand Cayman KY1-1111Cayman Islands AUDITOR 1842 Mazars CPA LimitedCertified Public AccountantsRegistered Public Interest Entity Auditor42nd Floor, Central Plaza18 Harbour RoadWanchaiHong Kong LEGAL ADVISER AS TO HONG KONG LAWS 8926610-611 Adrian Lau & Yim LawyersUnits 610-611, 6/F, Tower 2Lippo Centre, 89 Queensway, Admiralty,Hong Kong PRINCIPAL BANKERS Bank of China (Hong Kong) LimitedThe Hongkong and Shanghai Banking Corporation LimitedDah Sing Bank LimitedBank of Communications Co., Ltd. STOCK CODE 2182 2182 CHAIRMAN’S STATEMENT TO THE SHAREHOLDERS 20231231 On behalf of the board (the “Board”) of directors (the “Directors”) of TianChang Group Holdings Ltd. (the “Company”), I am pleased to present theannual report of the Company and its subsidiaries (together, the “Group”)for the year ended 31 December 2023 (the “Year”). BUSINESS REVIEW CAREWE2023AEO The Group operates its business through three segments, namelyintegrated plastic solutions segment, electronic cigarette (the“e-cigarettes”) products segment and medical consumable productssegment. The integrated plastic solutions segment engages in moulddesign and fabrication services as well as plastic component design andmanufacturing services. The e-cigarettes products segment engagesin the manufacturing and sales of e-cigarettes products. The Group’smedical consumable products segment engages in the manufacturingand sales of disposable face masks products under our own brand nameof “CAREWE”. The Group distributes our products within the domesticmarket and to overseas markets, including Europe, Asia and the UnitedStates (the “U.S.”). During 2023, the Group obtained the AuthorisedEconomic Operator (“AEO”) Certificate issued by the China Customs,which could improve the operational efficiency of the Group. 2023202231420236142024112 During 2023, the macroeconomy and consumer confidence wereinevitably affected by high inflation rate for necessities and high interestrates. It was an uneasy year for most of the businesses. Additionally,as disclosed in the Company’s public announcements dated 14 March2022, 14 June 2023 and 12 January 2024, the exclusivity term betweenthe major customer of e-cigarette products (“Exclusivity”) was removed.Therefore, the number of sales orders for e-cigarettes products wasadversely affected. The Group recorded a decrease in both revenue andprofit after tax during the year. Facing all these uncontrollable externalfactors and the volatility environment, throughout the year, the Grouphas integrated the team and invested in research and developmentprojects to support the long-term development of the Group. A researchand development centre was established in our Shenzhen office,primarily focusing on advancement of the core technology of e-cigarette,including atomization technology, coils technology and other relatedtechnologies. 697.539.0%20221,143.91