中国天弓控股2023年报

www.cocoon.holdings Thisannual report,in both English and Chinese versions,isavailable on the Company’s website at www.cocoon.holdings (the“Company Website”). Shareholders who have chosen or have been deemed consentedtoreceive the corporate communications of the Company(the“Corporate Communications”) via the Company Website and whofor any reason have difficulty in receiving or gaining access to theannual report posted on the Company Website will promptly uponrequest be sent the annual report in printed form free of charge. Shareholders may at any time change their choice of the meansofreceipt(either in printed form or via the Company Website)and/or language(s) (either English only or Chinese only or bothlanguages) of Corporate Communications. 1 8 31 7 Mcocoon.ecom@computershare.com.hk Shareholders may send their request to receive the annual reportin printed form, and/or to change their choice of the means ofreceipt and/or language(s) of Corporate Communications by noticein writing to the branch share registrar of the Company in HongKong,Computershare Hong Kong Investor Services Limited at17M Floor, Hopewell Centre, 183 Queen’s Road East, Wan Chai,Hong Kong or by sending an email to the branch share registrarof the Company in Hong Kong at cocoon.ecom@computershare.com.hk. Shareholderswho have chosen to receive printed copy of theCorporate Communications in either English or Chinese versionwillreceive both English and Chinese versions of this annualreport since both languages are bound together into one booklet. C O N T E N T S CORPORATE INFORMATION BOARD OF DIRECTORS Executive DirectorsChau Wai Hing(Chairman)Wu Ming Gai Independent Non-executive Directors Chan Man YiLeung Yin TingWong Sze Lok AUDIT COMMITTEE Chan Man Yi(Chairman)Leung Yin TingWong Sze Lok NOMINATION COMMITTEE Chan Man Yi(Chairman)Leung Yin TingWong Sze Lok REMUNERATION COMMITTEE Wong Sze Lok(Chairman)Chan Man YiLeung Yin Ting BANKERS OCBC Wing Hang Bank LimitedBank of China (Hong Kong) LimitedThe Hongkong and Shanghai Banking Corporation Limited AUDITOR 18824 McMillan Woods (Hong Kong) CPA LimitedCertified Public Accountants24/F, Siu On Centre188 Lockhart Road, Wan ChaiHong Kong CORPORATE INFORMATION COMPANY SECRETARY Au Yeung Ming Yin Gordon REGISTERED OFFICE Canon’s Court22 Victoria StreetHamilton HM 12Bermuda Canon’s Court22 Victoria StreetHamilton HM 12Bermuda PRINCIPAL PLACE OF BUSINESS IN HONG KONG 6114A Room 14AFortune House61 Connaught Road CentralCentral, Hong Kong HONG KONG BRANCH REGISTRAR 183171712 1716 Computershare Hong Kong Investor Services LimitedShops 1712–1716, 17th FloorHopewell Centre183 Queen’s Road EastWan ChaiHong Kong STOCK CODE 428 The Stock Exchange of Hong Kong Limited: 428 CHAIRMAN’S STATEMENT Theboard(the“Board”)of directors(the“Directors”)ofCocoonHoldings Limited(the“Company”)and its subsidiaries(collectivelyreferred to as the“Group”)takes pleasure inpresenting the audited consolidated results of the Group for theyear ended 31 December 2023 (“Reporting Period”). BUSINESS REVIEW, PROSPECTS AND FUTUREPLAN The year 2023 was quite a volatile year for investing in thelisted securities both Hong Kong, the People’s of the Republicof China (the “PRC”) and United States of America (the “US”).In 2023, both the Hong Kong stock market and the PRC stockmarket experienced a continuation of vulnerabilities. 22,688.914% Themarket rallied in early January 2023 as Hong Kongopenedits border with the PRC,reaching its 2023 high of22,688.9 on January 2023. Since then, interest rate hikes and asluggish PRC’s economy have dealt it a double blow. The HangSeng Index fell 14% in 2023. Hong Kong’s stock market, whichincludes shares of many Chinese companies, one of the reasonsfor the unfavorable performance of Hong Kong’s stock market wasdisappointment in PRC post-COVID recovery. Asthe US Federal Reserve raised interest rates furtherin2023,Hong Kong’s interest rates also gradually increased,draggingdown the total fixed capital formation,which reflectsinvestment. With the US interest rate remaining at a high leveland the US currency strengthening, it triggered a capital outflowfrom the Hong Kong stock market, which also affected the HongKong stock market and even the overall economy. TheGroup expects the stock market and economy ofthePRC and Hong Kong will continue to struggle betweencontinuation of uncertainty in 2023. The PRC is the top principaltrading partner of Hong Kong, so its economy will definitely affectthe Hong Kong’s economy. TheGroup will closely monitor the development of theexternal environment and continue to evaluate its impact on ourbusiness, financial position and operating results. CHAIRMAN’S STATEMENT Lookingahead to the year 2024,the Company will stayin focus to invest in trading securities, private equity funds andprivate enterprises with potential prospect. Our approach will keeptimely and appropriate investment strategies in response to thevolatile market, in order