天虹国际集团二零二四年年报

(Incorporated in the Cayman Islands with limited liability)Stock Code2678 ANNUALR E P O R T2024 TABLE OF CONTENTS目錄 Note 1:Based on the average of the trade and bills receivables and financialassets at fair value through other comprehensive income at thebeginningand ending of the year over sales revenue for therespective year and multiplied by 360 days. Note 2:Based on the average of the trade and bills payables and supplychain financing at the beginning and ending of the year over costof sales for the respective year and multiplied by 360 days. Note 3:Based on total borrowings net of cash and cash equivalents andpledged bank deposits over equity attributable to shareholders ateach year end. Note 4:Based on each year’s profit attributable to shareholders over theaverage of the equity attributable to shareholders at the beginningand ending of the financial year. 企業簡介CORPORATE PROFILE 企業簡介 CORPORATE PROFILE 26785,0004211,650 Texhong International Group Limited (formerly known as TexhongTextileGroup Limited)(the“Company”,together with itssubsidiaries, the “Group”) (stock code: 2678) is one of the globallargestcotton textile manufacturers and is a leading textileenterprise focusing on manufacturing high value-added core-spuntextileproducts.The Group is principally engaged in themanufactureand distribution of quality yarns,grey fabrics andgarment fabrics. Since 1997, the Group has grown rapidly and hasover 5,000 customers in the People’s Republic of China (“China” or“the PRC”) and overseas, with its sales network spanning acrossmany countries and regions around the world, including the PRC,Vietnam, North America, Europe, Brazil, Turkey, Bangladesh, Japanand South Korea. With its sales headquarter established in Shanghai,the Group has production bases in operation in the PRC, Vietnam,Turkey, the Americas respectively, with major production facilitiescomprising about 4.21 million spindles and about 1,650 weavingand knitting machines and the related dyeing equipment as of31 December 2024. 主席報告書CHAIRMAN’S STATEMENT On behalf of the Company’s board ofdirectors (the“Board”), I present theannual results of the Group for theyear ended 31 December 2024 to theshareholders of the Company. 本 人 謹 代 表 本 公 司 董 事 會（「董 事會」），向本公司股東呈列本集團截至二零二四年十二月三十一日止年度的全年業績。 Hong Tianzhu洪天祝Chairman 主席報告書（續）CHAIRMAN’S STATEMENT (CONTINUED) 業績 RESULTS Z Looking back at 2024, the global economy has progressed in acomplexand volatile landscape.Although it has maintained acertaindegree of resilience,growth has remained sluggish byhistorical standards. China, as the world’s second largest economy,hasplayed a significant role in driving global trade volumestogether with other emerging Asian economies. Though inflationarypressureshave slowed down for certain developed economies,escalating trade frictions and heightened policy uncertainties haveledto less expectation for U.S.dollar interest rate cut,therebyexerting pressures on economic development. Against this macrobackdrop, global consumption trends underwent substantial shifts. InNorthAmerican market,for instance,an aging and diversedemographic structure saw Generation Z and Millennials graduallybecomingthe main consumer forces.Affected by inflationarypressuresand less expectation for U.S.dollar interest rate cut,consumersremain price-sensitive,prioritizing value-for-moneypurchases and cutting back on non-essential spending. At the sametime, brand loyalty has declined and consumer shopping behaviourhas shifted to a blended model of online and offline shopping,moving from “stockpiling” to “seeking quality”. These consumptioncharacteristics are particularly evident in the fashion and apparelcategories, placing higher demands on textile and garment supplychainsto differentiate offerings and enhance rapid-responsecapabilities. In addition, factors such as the pandemic, trade frictions,and transportation bottlenecks have impacted supply chain stabilityin recent years. Although supply chain pressures have eased in 2024,lingeringconcerns over market uncertainties prompted manybusinesses to maintain cautious inventory strategies while adoptingmore flexible restocking mechanisms to address potential demandfluctuations. 2305.8865.5350.60 Aftersuffering losses in the previous year,the Group activelyrespondedto the challenges of the still complex marketenvironment of 2024. In addition to making every effort to restoreproductionto full capacity,we have significantly adjusted andoptimizedour product structure to enhance the productionefficiencyof all plants,while also investing resources in thedevelopmentof high value-added products in line with markettrends. Furthermore, the Group also further refined raw materialprocurementstrategy and strengthened inventory management,flexibly adjusting procurement plans in response to market pricefluctuations and production plans to effectively mitigate risks. Interms of capital management, we maintained strict control overcapital expenditure from the pre