旷世芳香2024年年报

CONTENTS 02Definition06Corporate information10Chairman’s statement12Management discussion and analysis22Directors and senior management30Report of the directors41Corporate governance report56Independent auditor’s reportConsolidated financial statements63Consolidated statement of profit or loss andother comprehensive income65Consolidated statement of financial position67Consolidated statement of changes in equity69Consolidated statement of cash flow71Notes to the consolidated financial statements168Summary financial information In case of any inconsistency between the English version and theChinese version of this annual report, the English version shallprevail. And if there is any inconsistency between the Chinesenames of the entities or enterprises established in the PRCmentioned in this annual report and their English translations,the Chinese names shall prevail. The English translations of theChinese names of such PRC entities or enterprises are providedfor identification purposes only. the Company and its subsidiaries or, where the context so requiresin respect of the period before the Company became the holdingcompany of the present subsidiaries, the present subsidiaries of theCompany and the business carried on by such subsidiaries or (as thecase may be) their predecessors CORPORATE INFORMATION BOARD OF DIRECTORS Executive Directors Mr. JIN Jianxin (Chairman)Mr. TIAN Dong Non-executive DirectorMr. SHAO Patrick Independent non-executive Directors Mr. LAI Chun YuMs. XU QiongMr. ZHOU Kai COMPANY SECRETARY Mr. LAU Chung Wai (FCPA (Practising)) AUDIT COMMITTEE Mr. LAI Chun Yu (Chairman)Mr. SHAO PatrickMr. ZHOU Kai REMUNERATION COMMITTEE Mr. ZHOU Kai (Chairman)Mr. JIN JianxinMr. LAI Chun Yu NOMINATION COMMITTEE Ms. XU Qiong (Chairlady)Mr. JIN JianxinMr. LAI Chun Yu AUTHORISED REPRESENTATIVES (for the purpose of the Listing Rules)Mr. LAU Chung WaiMr. TIAN Dong EXTERNAL AUDITOR PricewaterhouseCoopersCertified Public AccountantsRegistered Public Interest Entity Auditor22nd FloorPrince’s BuildingCentral, Hong Kong 22 REGISTERED OFFICE 89 Nexus WayCamana BayGrand CaymanKY1-9009Cayman Islands 89 Nexus WayCamana BayGrand CaymanKY1-9009Cayman Islands PRINCIPAL PLACE OF BUSINESS IN HONG KONG 84111102 Unit 1102, 11th FloorBrill Plaza, No. 84 To Kwa Wan RoadTo Kwa Wan, KowloonHong Kong HEAD OFFICE AND PRINCIPAL PLACE OFBUSINESS IN THE PRC 827 827 Qixiang RoadNingbo City, Zhejiang ProvincePRC PRINCIPAL SHARE REGISTRAR Ogier Global (Cayman) Limited89 Nexus WayCamana BayGrand CaymanKY1-9009Cayman Islands Ogier Global (Cayman) Limited89 Nexus WayCamana BayGrand CaymanKY1-9009Cayman Islands HONG KONG SHARE REGISTRAR 1617 Tricor Investor Services Limited17th Floor, Far East Finance CentreNo. 16 Harcourt RoadHong Kong STOCK CODE 1925 1925 WEBSITE http://www.kwungs.com(information on the website does not form part of this annual report) http://www.kwungs.com CHAIRMAN’S STATEMENT Dear Shareholders, Greetings to everyone! 1024.1%11,86695%117 Over the past year, we achieved sustained growth in our performance.Our total revenue exceeded the RMB1 billion milestone, representinga remarkable year-on-year increase of 24.1%, while our net profitreached RMB118.66 million, a staggering 95% increase comparedto the previous year (for details, see page 117 of this report). In thedomestic market, we continued to tamp our foundation and built arobust moat for high-quality development. Amid the wind of change in international politics and economicdynamics and our needs for business growth, we decisively rampedup our global presence in production capacity. Our production base inVietnam has been constructed and put into operation. This initiative willbolster the resilience of our supply chain and lay a solid foundation forcorporate future development. Since our listing, we have adhered to the core corporate philosophyof“joint endeavor and shared success”. Through increasing R&Dinvestments, recruiting and nurturing R&D talents, constantly optimizingsupply chain management, and enhancing marketing efficiency, wehave ensured ample cash flow and stable operation for the Company.Not only has such move safeguarded our sustainable and healthydevelopment but also enabled us to continuously reward our investorsby upkeeping and optimizing our annual dividend policy. Aromatic products, with their unique health and emotional benefits,are playing an increasingly prominent role in shaping a better lifestylefor consumers. As an industry leader, we will astutely seize thismarket opportunity to fully leverage our strengths, thereby driving thecontinuous innovation and prosperity of the Company. I firmly believethat Kwung’s has a promising future with immense potential, and isworth the trust and support of every investor! Chairman of the BoardJIN Jianxin 2025331 31 March 2025 MANAGEMENT DISCUSSION AND ANALYSIS BUSINESS REVIEW The Group provides solutions to customers on design and manufactureof home decor