燕之屋2024年度报告

廈門燕之屋燕窩產業股份有限公司Xiamen Yan Palace Bird's Nest Industry Co., Ltd. A Koint stock company incorporated in tIe Peoples RepuClic oG CIina XitI limited liaCility€׵ʕശɛ͏΍ձ਷ൗ̅ϓٰͭٙ ΅Ϟࠢʮ̡ Stock Code:1497股份代號 Annual Report2024年度報告 CONTENTS 112ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT166INDEPENDENT AUDITOR’S REPORT178CONSOLIDATED STATEMENT OF PROFIT OR LOSS179CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHERCOMPREHENSIVE INCOME180CONSOLIDATED STATEMENT OF FINANCIAL POSITION182CONSOLIDATED STATEMENT OF CHANGES IN EQUITY184CONSOLIDATED CASH FLOW STATEMENT186NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS296DEFINITION 9RESULTS HIGHLIGHTS AND FINANCIAL SUMMARY CORPORATE INFORMATION BOARD OF DIRECTORS Executive Directors Mr. HUANG Jian(Chairman)Mr. ZHENG WenbinMr. LI YouquanMs. HUANG Danyan Non-executive Directors Mr. LIU ZhenMr. WANG Yalong Independent Non-executive Directors Mr. XIAO WeiMr. CHEN AihuaMr. LAM Yiu Por Supervisors Mr. ZHENG FengMs. WEI WeiMs. ZHANG Ning AUDIT COMMITTEE Mr. CHEN Aihua(Chairman)Mr. XIAO WeiMr. LAM Yiu Por REMUNERATION AND APPRAISAL COMMITTEE Mr. XIAO Wei(Chairman)Mr. LI YouquanMr. CHEN Aihua NOMINATION COMMITTEE Mr. XIAO Wei(Chairman)Mr. CHEN AihuaMs. HUANG Danyan STRATEGY COMMITTEE Mr. HUANG Jian(Chairman)Mr. ZHENG WenbinMr. LAM Yiu Por JOINT COMPANY SECRETARIES Ms. XIONG TingMs. LEUNG Kwan Wai H H SHARE REGISTRAR 1617 Tricor Investor Services Limited17/F, Far East Finance Centre16 Harcourt Road, Hong Kong AUTHORIZED REPRESENTATIVES Mr. HUANG JianMs. XIONG Ting AUDITOR 108 KPMGCertified Public AccountantsPublic Interest Entity Auditor registered in accordance withthe Accounting and Financial Reporting Council Ordinance8th Floor, Prince’s Building10 Chater RoadCentral, Hong Kong REGISTERED OFFICE IN THE PRC 3301 Unit 1, Unit 301No.3, Xiangming RoadXiamen Torch High-tech Zone (Xiang’an)Industrial ZoneXiamen City, Fujian Province, the PRC CORPORATE INFORMATION HEADQUARTERS AND PRINCIPAL PLACE OFBUSINESS IN THE PRC 18822 22/F, Caizihui No. 188, Qianpu RoadSiming DistrictXiamen City, Fujian Province, the PRC PRINCIPAL PLACE OF BUSINESS IN HONG KONG 33191928 Room 1928, 19/FLee Garden One, 33 Hysan AvenueCauseway Bay, Hong Kong PRINCIPAL BANKXiamen Bank Co., Ltd. (Lianqian Branch) HONG KONG LEGAL ADVISER 15434301-10 Han Kun Law Offices LLPRooms 4301-10, 43/F, Gloucester TowerThe Landmark, 15 Queen’s Road CentralHong Kong http://www.yanzhiwu.com COMPANY’S WEBSITEhttp://www.yanzhiwu.com STOCK SHORT NAMEYAN PALACE 1497 STOCK CODE 1497 DEAR SHAREHOLDERS, 1,964.24.37%2,050.0160.4211.6 With a surge of spring tide, a new chapter unfolds. In 2024, the globaleconomic witnessed signs of recovery with a gradual revival in consumermarket dynamism. The demand for healthcare products continued to rise,with quality and personalization becoming dominant trends. EBN consumersare exhibiting a shift toward rational consumption, as traditional culture ofnourishment integrates with modern health concepts, driving the industrytoward quality-driven and service-oriented transformation. Looking back at2024, through the collective efforts of our employees, Yan Palace maintainedsteady growth in revenue. Our revenue increased by 4.37% from RMB1,964.2million in 2023 to RMB2,050.0 million in 2024. Our net profit for 2024 wasRMB160.4 million, compared to RMB211.6 million in 2023. Despite theyear-on-year decline in profit, we made solid progress in brand building,market expansion, product innovation, and corporate social responsibility. LEADING THE NEW DEVELOPMENT OF THEMODERN BIRD’S NEST INDUSTRY AND FURTHERSTRENGTHENING OUR BRAND INFLUENCE CAIQ In 2024, Yan Palace consolidated its leadership in the bird’s nest industrywith multiple accolades of “No. 1 in national sales volume of EBN”, “No.1 in CAIQ-traceable bird’s nest imports among domestic importers”,“World’s largest EBN factory” and “No. 1 in the China Brand Power Index”.To enhance our influence across diverse demographics, we implemented adual-ambassador’s matrix, partnering with Gong Li () and Wang Yibo() to reinforce our premium brand image while boosting appealamong younger consumers. Meanwhile, we entered into strategic consultingcollaboration with Hua & Hua to reconstruct the brand’s super symbol “YanPalace EBN”, to unify the outlet visual system, optimize the store display logicand consumer flow design, and complete the systematic upgrade of thebrand from visual symbols to content communication. CHAIRMAN’S LETTER EXPLORING NEW CHANNELS AND BUILDINGOPERATING STRATEGY OF SYNERGISTICDEVELOPMENT ACROSS ALL CHANNELS 108650AIAI We have launched the strategy of integrating online and offline channelsto fully align our product lines. Our offline sales network now coversnationwide, with 108 self-operated stores and 650 distributor-operatedstores as of December 31, 2024. Our EBN products from offline stores wereavailable for sale through platforms such as Youzan Private Domain Mall,Meituan, JD.com Instant Delive