卡撒天娇2025年中期报告

CASABLANCA GROUP LIMITED (INCORPORATED IN THE CAYMAN ISLANDS WITH LIMITED LIABILITY)STOCK CODE Contents目錄 Corporate Information2公司資料Management Discussion and Analysis4管理層討論及分析Corporate Governance and OtherInformation21企業管治及其他資料Report on Review of CondensedConsolidated Financial Statements32簡明綜合財務報表審閱報告Condensed Consolidated Statementof Profit or Loss and OtherComprehensive Income34簡明綜合損益及其他全面收入表Condensed Consolidated Statement ofFinancial Position36簡明綜合財務狀況表Condensed Consolidated Statement ofChanges in Equity38簡明綜合權益變動表Condensed Consolidated Statement ofCash Flows40簡明綜合現金流量表Notes to the Condensed ConsolidatedFinancial Statements42簡明綜合財務報表附註 關於卡撒天嬌 Casablanca Group Limited, sinceits establishment in 1993 in HongKong, primarily engages in designing,manufacturing, distribution and retailingof bedding products with a focus on thehigh-end and premium markets under itsproprietary “Casa Calvin”, “Casablanca” and“CASA-V” brands. The Group’s productsinclude three main categories: bed linens,duvets and pillows, and home accessories.The Group is one of the leading brandedbedding products companies in theMainland China and Hong Kong. 卡撒天嬌集團於1993年在香港成立，主要以旗下自創品牌「卡撒·珂芬」、「卡撒天嬌」及「CASA-V」從事各種床上用品的設計、生產、分銷及零售，尤其專注高端及頂級床上用品市場。本集團產品主要分為三個種類，包括床品套件、被芯及枕芯，以及家居用品。現時本集團乃中國內地及香港品牌床上用品的領先企業之一。 The English text of this interim report shall prevail over the Chinese text in case of inconsistencies ordiscrepancies. 本中期報告之中英文本如有任何歧義或差異，概以英文文本為準。 CORPORATE INFORMATION公司資料 股份代號2223 Stock Code2223 董事會執行董事 Board of Directors Executive Directors 鄭斯堅先生（主席）鄭斯燦先生（副主席及行政總裁）王碧紅女士 Mr. Cheng Sze Kin(Chairman)Mr. Cheng Sze Tsan(Vice-chairman and Chief Executive Officer)Ms. Wong Pik Hung 獨立非執行董事盧紹良先生張華強博士周安華先生 Independent Non-executive Directors Mr. Lo Siu LeungDr. Cheung Wah KeungMr. Chow On Wa 委員會 Committees 審核委員會盧紹良先生（主席）張華強博士周安華先生 Audit Committee Mr. Lo Siu Leung(Chairman)Dr. Cheung Wah KeungMr. Chow On Wa 薪酬委員會張華強博士（主席）盧紹良先生周安華先生 Remuneration Committee Dr. Cheung Wah Keung(Chairman)Mr. Lo Siu LeungMr. Chow On Wa 提名委員會 Nomination Committee 鄭斯堅先生（主席）王碧紅女士盧紹良先生張華強博士周安華先生 Mr. Cheng Sze Kin(Chairman)Ms. Wong Pik HungMr. Lo Siu LeungDr. Cheung Wah KeungMr. Chow On Wa 投資委員會 Investment Committee 鄭斯堅先生（主席）鄭斯燦先生周安華先生 Mr. Cheng Sze Kin(Chairman)Mr. Cheng Sze TsanMr. Chow On Wa 公司秘書何耀樑先生 Company SecretaryMr. Ho Yiu Leung 授權代表王碧紅女士何耀樑先生 Authorised Representatives Ms. Wong Pik HungMr. Ho Yiu Leung 註冊辦事處 Registered Office PO Box 309, Ugland HouseGrand Cayman KY1-1104Cayman Islands PO Box 309, Ugland HouseGrand Cayman KY1-1104Cayman Islands 總部及主要營業地點 Headquarters and PrincipalPlace of Business 香港新界火炭黃竹洋街9-13號仁興中心5樓 5/F Yan Hing Centre9-13 Wong Chuk Yeung StreetFotan, New TerritoriesHong Kong 核數師 Auditor 鄭鄭會計師事務所有限公司執業會計師香港九龍九龍灣宏照道38號企業廣場5期1座35樓 CHENG & CHENG LIMITED,Certified Public AccountantsLevel 35, Tower 1, Enterprise Square Five,38 Wang Chiu Road, Kowloon Bay, Kowloon.,Hong Kong 主要股份過戶登記處 Principal Share Registrar andTransfer Office Maples Fund Services (Cayman) LimitedPO Box 1093, Boundary HallCricket SquareGrand Cayman KY1-1102Cayman Islands Maples Fund Services (Cayman) LimitedPO Box 1093, Boundary HallCricket SquareGrand Cayman KY1-1102Cayman Islands 香港股份過戶登記分處 Hong Kong Branch ShareRegistrar and Transfer Office 聯合證券登記有限公司香港北角英皇道338號華懋交易廣場2期33樓3301-04室 Union Registrars LimitedSuites 3301-04, 33/F,Two Chinachem Exchange Square,338 King’s Road,North Point, Hong Kong 主要往來銀行 Principal Bankers 渣打銀行（香港）有限公司渣打銀行（中國）有限公司中國銀行（香港）有限公司中國銀行股份有限公司 Standard Chartered Bank (Hong Kong) LimitedStandard Chartered Bank (China) LimitedBank of China (Hong Kong) LimitedBank of China Limited 公司網址 Company Website www.casablanca.com.hk www.casablanca.com.hk MANAGEMENT DISCUSSION AND ANALYSIS管理層討論及分析 卡撒天嬌集團有限公司（「本公司」）董事（「董事」）會（「董事會」）欣然公佈本公司及其附屬公司（「本集團」）截至2025年6月30日止六個月（「期內」或「回顧期內」）的未經審核綜合中期業績。 The board (the “Board”) of directors (the “Directors”) ofCasablanca Group Limited (the “Company”) is pleased toannounce the unaudited consolidated interim results of theCompany and its subsidiaries (the “Group”) for the six monthsended 30 June 2025 (the “Period” or the “Review Period”). 概覽 Overview 2025年 上 半 年， 中 東 戰 事 持 續，美國提出向其他國家大幅增加徵收進口關稅，環球經濟籠罩陰霾，影響中華人民共和國（「中國」或「中國內地」，就本報告而言，不包括香港、澳門及台灣）、香港及澳門地區消費者信心。然而，2025年上半年中國內地受惠於提振消費擴大內需政策，各地促消費活動頻繁，消費市場活力略有增強，社會消費品零售總額同比增長5.0%，而國內生產總值同比增長仍達5.3%。回顧期內，香港市民到海外旅遊及週末到中國內地消費的熱潮持續，然而訪港旅客消費審慎，香港的餐飲及零售企業都面對非常困難的經營環境。 In the first half of 2025, the prolonged conflict in the MiddleEast, coupled with the U.S. proposal to significantly raiseimport tariffs on other countries, have cast a shadow overthe global economy. This situation has dampened consumerconfidence in regions of the People’s Republic of China (“PRC”or “Mainland China” for purpose of this report, excludingHong Kong, Macau and Taiwan) and Hong Kong and Macau.However, benefited from the various initiatives to boostconsumption and expand domestic demand, consumptionpromotional activities were frequent across Mainland Chin