九毛九二零二四年年报

(Incorporated in the Cayman Islands with limited liability)(於開曼群島註冊成立的有限公司) Stock Code股份代號: 9922 年報2024ANNUAL REPORT 2Definitions and Corporate Information釋義及公司資料12Five-Year Financial Summary五年財務概要14Chairman’s Statement主席報告25Management Discussion and Analysis管理層討論與分析45Directors and Senior Management董事及高級管理層50Corporate Governance Report企業管治報告70Directors’ Report董事會報告104 Independent Auditor’s Report獨立核數師報告112 Consolidated Statement of Profit or Loss綜合損益表114 Consolidated Statement of Profit or Loss and Other Comprehensive Income綜合損益表及其他全面收益表115 Consolidated Statement of Financial Position綜合財務狀況表117 Consolidated Statement of Changes in Equity綜合權益變動表119 Consolidated Cash Flow Statement綜合現金流量表121 Notes to the Consolidated Financial Statements綜合財務報表附註 DEFINITIONS AND CORPORATE INFORMATION DEFINITIONS AND CORPORATE INFORMATION Jiumaojiu International Holdings Limited (九毛九國際控股有限公司), an exemptedcompany incorporated in the Cayman Islands with limited liability on February 1, 2019;九毛九國際控股有限公司，於2019年2月1日在開曼群島註冊成立的獲豁免有限公司； “Company”, “our Company”or “the Company”「本公司」 the deed of non-competition dated December 6, 2019 and entered into by thecontrolling shareholders of the Company with and in favor of our Company (forourselves and as trustee for each of our subsidiaries), details of which are set outin “Relationship with Controlling Shareholders – Deed of Non-competition” in theProspectus; “Deed of Non-competition” 「不競爭契據」指 the director(s) of the Company;本公司董事； our Fresh Wood Beef Hot Pot (賞鮮悅木牛肉火鍋) brand;我們的賞鮮悅木牛肉火鍋品牌； the Hong Kong public offering and the international offering of the Shares;指股份的香港公開發售及國際發售； our Company and our subsidiaries or, where the context so requires, in respect of theperiod before our Company became the holding company of our present subsidiaries,the business operated by such subsidiaries or their predecessors (as the case may be);本公司及我們的附屬公司或（倘文義有所指）於本公司成為現有附屬公司的控股公司之前期間該等附屬公司或其前身經營的業務（視情況而定）； 「本集團」或「我們」指 DEFINITIONS AND CORPORATE INFORMATION DEFINITIONS AND CORPORATE INFORMATION 「J.P. Morgan」指 the listing of the Shares on the Main Board of the Stock Exchange on January 15, 2020;指股份於2020年1月15日在聯交所主板上市； DEFINITIONS AND CORPORATE INFORMATION DEFINITIONS AND CORPORATE INFORMATION “Pandemic”the outbreak of the novel coronavirus pneumonia (COVID-19) globally and in the PRCsince early 2020;「疫情」指於2020年年初在全球及中國爆發的新型冠狀病毒肺炎（2019冠狀病毒病）；“PRC”the People’s Republic of China, and “Chinese” shall be construed accordingly;「中國」指中華人民共和國，「中國的」應作相應解釋；“Prospectus”the prospectus of the Company dated December 30, 2019;「招股章程」指本公司日期為2019年12月30日的招股章程；“Remuneration Committee”the remuneration committee of the Company;「薪酬委員會」指本公司薪酬委員會；“Reorganization”the reorganization of the Group in preparation of the Listing, details of which are setout in “History, Reorganization and Corporate Structure” in the Prospectus;「重組」指本集團為籌備上市進行的重組，詳情載於招股章程「歷史、重組及公司架構」；“RMB” or “Renminbi”the lawful currency of the PRC;「人民幣」指中國法定貨幣；“SFO”the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong), asamended or supplemented from time to time;「證券及期貨條例」指香港法例第571章《證券及期貨條例》，經不時修訂或補充；“Shanwaimian”our Shandeshanwaimian Suantang Hot Pot (山的山外面酸湯火鍋) brand;「山外面」指我們的山的山外面酸湯火鍋品牌；“Shareholder(s)”holder(s) of Share(s);「股東」指股份持有人；“Share Option Scheme”our share option scheme conditionally adopted pursuant to the written resolutionspassed by our Shareholders on December 6, 2019, the principal terms of which are setout in “Statutory and General Information – D. Share Incentive Schemes – Share OptionScheme” in Appendix IV to the Prospectus;「購股權計劃」指根據股東於2019年12月6日通過的書面決議案有條件採納的購股權計劃，其主要條款載於招股章程附錄四「法定及一般資料 －D.股份激勵計劃 －購股權計劃」；“Share(s)”shares in the capital of our Company with nominal value of US$0.0000001 each;「股份」指本公司股本中每股面值0.0000001美元的股份；“Song Hot Pot”our Song Hot Pot (慫火鍋) brand;「慫火鍋」指我們的慫火鍋品牌； DEFINITIONS AND CORPORATE INFORMATION 於本年報內，除非文義另有所指，否則「聯繫人 」、「 緊 密 聯 繫 人 」、「 關 連 人 士 」、「 關 連 交易」、「持續關連交易」、「核心關連人士」、「控股股東」、「附屬公司」及「主要股東」等詞應具有上市規則賦予該等詞彙的涵義。 In this annual report, the terms “associate”, “close associate”, “connectedperson”, “connected transaction”, “continuing connected transaction”, “coreconnected person”, “controlling shareholder”, “subsidiary” and “substantialshareholder” shall have the meanings given to such terms in the Listing Rules,unless the context otherwise requires. DEFINITIONS AND CORPORATE INFORMATION REGISTERED OFFICE Walkers Corporate Limited190 Elgin Avenue, George TownGrand Cayman KY1-9008Cayman Islands Walkers Corporate Limited190 Elgin Avenue, George TownGrand Cayman KY1-9008Cayman Islands HEADQUARTERS 中國廣州市南沙區珠江街珠江東路4號九丞科創中心2棟202單元 Unit 202Building 2, Jiucheng Technology Innovation Center4 Zhujiang East Road, Zhujiang StreetNansha District Guangzhou, PRC PRINCIPAL PLACE OF BUSINESS IN HONG KONG 香港九龍旺角太子道西193號新世紀廣場一期17樓 Level 17Tower I, Grand Century Place193 Prince Edward Road WestMongkok, KowloonHong Kong www.jiumaojiu.com COMPANY’S WEBSITE BOARD OF DIRECTORS Executive directors 管毅宏先生