锐信控股2025 中期报告

銳信控股有限公司VESON HOLDINGS LIMITEDINTERIM R EPORT中期報告2025 CORPORATE INFORMATION公司資料 REGISTERED OFFICE Conyers Trust Company (Cayman)LimitedCricket SquareHutchins DriveP.O. Box 2681Grand Cayman KY1-1111Cayman Islands Conyers Trust Company (Cayman)LimitedCricket SquareHutchins DriveP.O. Box 2681Grand Cayman KY1-1111Cayman Islands PRINCIPAL PLACE OF BUSINESS IN THE PRC 98 SCUD Industrial ParkFuzhou Pilot Free Trade ZoneNo. 98 Jiangbin East AvenueMawei District, FuzhouFujian Province, PRC PLACE OF BUSINESS IN HONG KONG 77101017 Room 1017, 10/F Leighton Centre77 Leighton RoadCauseway Bay, Hong Kong BOARD OF DIRECTORS Executive DirectorsNi Chen Hui (Chairman)Lian Xiu Qin (Chief Executive Officer) 20255272025317 Non-Executive DirectorsFeng Ming Zhu (re-designated from an executiveDirector with effect from 27 May 2025)Loke Yu (resigned with effect from 17 March 2025) Independent Non-Executive DirectorsHeng Ja Wei VictorLam Yau YiuCheung Wai Kwok Gary 銳信控股有限公司VESON HOLDINGS LIMITEDINTERIM R EPORT中期報告2025 CORPORATE INFORMATION公司資料 (FCCACPA) COMPANY SECRETARYYeung Mun Tai (FCCA, CPA) AUTHORISED REPRESENTATIVES Ni Chen HuiYeung Mun Tai LEGAL ADVISER Reed Smith Richards Butler LLP17th Floor, One Island EastTaikoo Place18 Westlands Road, Quarry BayHong Kong 1817 INDEPENDENT AUDITOR 11125 BDO LimitedCertified Public AccountantsRegistered Public InterestEntity Auditors25th Floor, Wing On Centre111 Connaught Road, CentralHong Kong AUDIT COMMITTEE Heng Ja Wei Victor (Chairman)Lam Yau YiuCheung Wai Kwok Gary REMUNERATION COMMITTEE Heng Ja Wei Victor (Chairman)Lam Yau YiuCheung Wai Kwok Gary 銳信控股有限公司VESON HOLDINGS LIMITEDINTERIM R EPORT中期報告2025 CORPORATE INFORMATION公司資料 NOMINATION COMMITTEE Cheung Wai Kwok Gary (Chairman)Heng Ja Wei VictorLam Yau Yiu CORPORATE GOVERNANCE COMMITTEE 2025317 Lam Yau Yiu (Chairman)Heng Ja Wei VictorCheung Wai Kwok GaryNi Chen HuiFeng Ming ZhuLoke Yu (resigned with effect from 17 March 2025) PRINCIPAL SHARE REGISTRAR ANDTRANSFER OFFICE Suntera (Cayman) LimitedSuite 3204, Unit 2ABlock 3, Building DP.O. Box 1586Gardenia CourtCamana BayGrand Cayman, KY1-1100Cayman Islands Suntera (Cayman) LimitedSuite 3204, Unit 2ABlock 3, Building DP.O. Box 1586Gardenia CourtCamana BayGrand Cayman, KY1-1100Cayman Islands HONG KONG BRANCH SHARE REGISTRARAND TRANSFER OFFICE 1617 Tricor Investor Services Limited17/F, Far East Finance Centre16 Harcourt RoadHong Kong PRINCIPAL BANKERS The Export-Import Bank of ChinaBank of CommunicationsFujian Haixia BankChina Merchants BankBank of ChinaICBC WEBSITE www.vesonhldg.com www.vesonhldg.com MANAGEMENT DISCUSSION AND ANALYSIS管理層討論及分析 OVERVIEW Veson Holdings Limited (“Veson” or the “Company”,togetherwith its subsidiaries,the“Group”)focuses on the R&D and application of lithium-ion batteries. It mainly provides lithium-ion batterysolutions for well-known mobile communicationand internet technology companies, covering theproduction and sales of mobile phone batteries,tablet batteries, notebook batteries and powerbanks. In recent years, the Group has activelyexplorednew power supply product markets,applied the Group’s expertise and experiencein producing lithium-ion batteries and designingbattery protection circuits to a wider range ofmobile devices, in order to develop new energystorageintelligent hardware battery productswithhigher profit margins,and has remainedcommittedto providing customers with morediversified professional module business. INDUSTRY REVIEW IDC20251.5%3.04920251.0%2.9522025IDC5G According to preliminary data from IDC, a marketresearch agency, global smartphone shipmentsincreased by 1.5% year-over-year reaching 304.9million units in the first quarter of 2025, and by1.0%year-over-year to 295.2 million units inthe second quarter of 2025. However, China’ssmartphone market declined in the second quarterof 2025, reversing earlier growth momentum. Thesmartphonemarket remained positive overall,yetuncertainty fueled by tariffs volatility,on-going macro-economic challenges such as forexinstability,unemployment and inflation acrossregions have tapered demand and led consumerstodeprioritize spending on smartphones,especially in low-end segments. IDC anticipatesthat the global smartphone market will continueto face challenges due to economic uncertaintiesand geopolitical tensions. Competition is expectedto intensify in niche segments such as foldabledevicesand advanced camera technology.Meanwhile, 5G devices are expected to continuedriving growth, particularly in emerging markets. MANAGEMENT DISCUSSION AND ANALYSIS管理層討論及分析 AIAIAIAIAI Withthe rapid popularisation of artificialintelligence,AI-enabled smartphones,drivenbyboth technological innovation and marketdemand, are poised to become a key growthdriver in the mobile phone industry, offering usersa more intelligent experience. The development ofAI-enabled smartphones relies not only on chipsand software, but also heavily on breakthroughs inbattery technology. Consumers’