帝王实业控股二零二五年中期报告

（Stock Code：1950）（股份代號：1950） 2025 Corporate Information2Management Discussion and Analysis5Corporate Governance and Other Data15Condensed Consolidated Statement of Profit of Loss andOther Comprehensive Income19Condensed Consolidated Statement of Financial Position20Condensed Consolidated Statement of Changes in Equity22Condensed Consolidated Statement of Cash Flows23Notes to the Condensed Consolidated Financial Statements24 Corporate Information BOARD OF DIRECTORSExecutive Directors 20258 120257 31 Mr. Chen HuaMr. Lam Kam Kong NathanielMr. Sun JingangMr. Zhong Wenlong (Appointed on 1 August 2025)Mr. Cheung Ka Wai (Resigned on 31 July 2025) Independent non-executive Directors Mr. Au Hei ChingMr. Huang ZhenmingMr. Lee Cheung Yuet HoraceMs. Zhou Xiaochun AUDIT COMMITTEE Mr. Lee Cheung Yuet Horace(Chairman)Mr. Au Hei ChingMr. Huang ZhenmingMs. Zhou Xiaochun NOMINATION COMMITTEE Mr. Lee Cheung Yuet Horace(Chairman)Mr. Lam Kam Kong NathanielMr. Au Hei Ching REMUNERATION COMMITTEE Mr. Lee Cheung Yuet Horace(Chairman)Mr. Chen HuaMs. Zhou Xiaochun JOINT COMPANY SECRETARIES Mr. Lam Kam Kong NathanielMr. Wong Ka Sing Corporate Information AUTHORISED REPRESENTATIVES Mr. Lam Kam Kong NathanielMr. Wong Ka Sing INDEPENDENT AUDITOR 9131305-07 KTC Partners CPA LimitedRoom 1305-07, 13/F.New East Ocean Centre9 Science Museum RoadTsim Sha Tsui, Kowloon, Hong Kong PRINCIPAL BANK Bank of Communications Co., Ltd.Bank of China (Hong Kong) Limited COMPANY’S WEBSITEwww.dwhl1950.com www.dwhl1950.com 1950 STOCK CODE1950 REGISTERED OFFICE Ogier Global (Cayman) Limited89 Nexus Way, Camana BayGrand Cayman KY1-9009Cayman Islands Ogier Global (Cayman) Limited89 Nexus Way, Camana BayGrand Cayman KY1-9009Cayman Islands HEAD OFFICE AND PRINCIPAL PLACEOF BUSINESS IN THE PRC 2 No.2, Jiangshan RoadMeicheng TownJiande CountyHangzhou CityZhejiang ProvincePRC Corporate Information PRINCIPAL PLACE OF BUSINESSIN HONG KONG 15111101 1101, 11thFloor,Gloucester Tower, The Landmark15 Queen’s Road CentralHong Kong PRINCIPAL SHARE REGISTRAR ANDTRANSFER OFFICE Ogier Global (Cayman) Limited89 Nexus Way, Camana BayGrand Cayman, KY1-9009Cayman Islands Ogier Global (Cayman) Limited89 Nexus Way, Camana BayGrand Cayman, KY1-9009Cayman Islands HONG KONG BRANCH SHAREREGISTRAR AND TRANSFER OFFICE 1617 Tricor Investor Services Limited17/F, Far East Finance Centre16 Harcourt RoadHong Kong Management Discussion and Analysis BUSINESS REVIEW 2025630 The board (the“Board”) of directors (the“Directors”) of DiwangIndustrial Holdings Limited (the“Company”) herein presents theinterim results of the Company and its subsidiaries (collectively, the“Group”) for the six months ended 30 June 2025 (the“Period”). 202463028,940,0009.9%262,889,0002024291,829,000 For the Period, the revenue of the Group was approximatelyRMB262,889,000 (2024: RMB291,829,000), representing adecrease of approximately RMB28,940,000 or 9.9% as comparedto the six months ended 30 June 2024 (the“Prior Period”). 13,586,0009.7%126,076,0002024139,662,000 The gross profit of the Group for the Period was approximatelyRMB126,076,000 (2024: RMB139,662,000), representing adecrease of approximately RMB13,586,000 or 9.7% as comparedto the Prior Period. 15,334,000202420,530,0005,196,00025.3%13,908,000202420,537,000 For the Period, the Group recorded net profit of approximatelyRMB15,334,000 (2024: RMB20,530,000), representing andecrease of approximately RMB5,196,000 or 25.3% as comparedto the Prior Period. The decrease in net profit was mainly due tothe increase in selling and distribution expenses. Profit for thePeriod attributable to owners of the Company was approximatelyRMB13,908,000 (2024: RMB20,537,000). 1.9320242.85 The basic and diluted earning per share was RMB1.93 cents (2024:basic and diluted earning per share was RMB2.85 cents). During the Period, the Group has engaged in the research anddevelopment, manufacturing and sale of coating agents andsynthetic resins (the“Faux Leather Chemicals Business”) andmanufacturing and sale of Chinese liquor products (the“ChineseLiquor Business”). FAUX LEATHER CHEMICALS BUSINESS The Group is an established faux leather chemicals manufacturerin the PRC principally engaged in the research and development,manufacturing and sale of coating agents and synthetic resins. 121,034,0007,930,0006.6%113,104,00026,137,000202423,551,000 Revenue generated from the Faux Leather Chemicals Businessdecreased by approximately RMB7,930,000 or 6.6% fromapproximately RMB121,034,000 for the Prior Period toapproximately RMB113,104,000 for the Period, primarily due torestocking both domestically and internationally resulting from theincreasing market demand. The gross profit for the Period wasapproximately RMB26,137,000 (2024: RMB23,551,000). Management Discussion and Analysis The gross profit margin increased from approximately 19.5% toapproximately 23.1% for the Period, which was mainly attributableto the overall decrease of the cost of raw