力图控股2025 年报

Contents目錄 Corporateinformation公司資料 DIRECTORS 董事 執行董事黃萬如先生（主席）陳玲玲女士 Executive DirectorsMr. Huang Wanru(Chairman)Ms. Chen Lin Lin Caddie Non-Executive DirectorMs. Li Li 非執行董事李莉女士 Independent Non-Executive DirectorsMr. Lam Ying Hung, AndyMr. Lui Tin Nang (resigned with effect from 15 March 2026) 獨立非執行董事林英鴻先生呂天能先生（自二零二六年三月十五日起辭任）蕭文豪先生萬曉霞博士（於二零二五年三月十日起獲委任） Mr. Siu Man Ho, SimonDr. Wan Xiaoxia (appointed with effect from 10 March 2025) 公司秘書陳永忠先生 COMPANY SECRETARY Mr. Chan Wing Chung AUDIT COMMITTEE 審核委員會 林英鴻先生（審核委員會主席）李莉女士蕭文豪先生萬曉霞博士（於二零二五年三月十日起獲委任）呂天能先生（自二零二六年三月十五日起辭任） Mr. Lam Ying Hung, Andy(chairman of the audit committee)Ms. Li LiMr. Siu Man Ho, SimonDr. Wan Xiaoxia (appointed with effect from 10 March 2025) Mr. Lui Tin Nang (resigned with effect from 15 March 2026) REMUNERATION COMMITTEE 薪酬委員會 林英鴻先生（薪酬委員會主席）黃萬如先生李莉女士蕭文豪先生萬曉霞博士（於二零二五年三月十日起獲委任）呂天能先生（自二零二六年三月十五日起辭任） Mr. Lam Ying Hung, Andy(chairman of the remuneration committee)Mr. Huang WanruMs. Li LiMr. Siu Man Ho, SimonDr. Wan Xiaoxia (appointed with effect from 10 March 2025) Mr. Lui Tin Nang (resigned with effect from 15 March 2026) Corporateinformation公司資料 NOMINATION COMMITTEE 提名委員會 蕭文豪先生（提名委員會主席）林英鴻先生李莉女士黃萬如先生萬曉霞博士（於二零二五年三月十日起獲委任）呂天能先生（自二零二六年三月十五日起辭任） Mr. Siu Man Ho, Simon(chairman of the nomination committee)Mr. Lam Ying Hung, AndyMs. Li LiMr. Huang WanruDr. Wan Xiaoxia (appointed with effect from 10 March 2025) Mr. Lui Tin Nang (resigned with effect from 15 March 2026) 授權代表黃萬如先生陳永忠先生 AUTHORISED REPRESENTATIVES Mr. Huang WanruMr. Chan Wing Chung AUDITORForvis Mazars CPA LimitedCertified Public Accountants 核數師富睿瑪澤會計師事務所有限公司執業會計師 PRINCIPAL BANKERS 主要往來銀行 Hang Seng Bank LimitedThe Hongkong and Shanghai Banking Corporation LimitedDBSAgricultural Bank of China LimitedBank of China LimitedChina Merchants Bank Co., Ltd. 恒生銀行有限公司香港上海滙豐銀行有限公司星展銀行中國農業銀行股份有限公司中國銀行股份有限公司招商銀行股份有限公司 股份過戶及登記總處 PRINCIPAL SHARE REGISTRAR ANDTRANSFER OFFICE Suntera (Cayman) LimitedSuite 3204, Unit 2ABlock 3, Building DP.O. Box 1586Gardenia CourtCamana BayGrand Cayman, KY1-1110Cayman Islands Suntera (Cayman) LimitedSuite 3204, Unit 2ABlock 3, Building DP.O. Box 1586Gardenia CourtCamana BayGrand Cayman, KY1-1110Cayman Islands Corporateinformation公司資料 香港股份過戶登記分處 HONG KONG BRANCH SHARE REGISTRARAND TRANSFER OFFICE 卓佳證券登記有限公司香港夏愨道16號遠東金融中心17樓 Tricor Investor Services Limited17/F, Far East Finance Centre16 Harcourt RoadHong Kong 註冊辦事處 REGISTERED OFFICE Cricket Square, Hutchins DriveP.O. Box 2681Grand CaymanKY1-1111Cayman Islands Cricket Square, Hutchins DriveP.O. Box 2681Grand CaymanKY1-1111Cayman Islands HEAD OFFICE AND PRINCIPAL PLACE OFBUSINESS IN HONG KONG 總部及香港主要營業地點 香港灣仔告士打道109–111號東惠商業大廈9樓903–904室 Rooms 903–9049/F, Tung Wai Commercial Building109–111 Gloucester RoadWanchaiHong Kong CORPORATE WEBSITEwww.lituholdings.com 公司網站www.lituholdings.com STOCK CODE1008 股份代號1008 LISTING DATE30 March 2009 上市日期二零零九年三月三十日 Chairman’sstatement主席報告書 本人謹代表力圖控股有限公司（「本公司」）及其附屬公司（統稱「本集團」）的董事（「董事」）會（「董事會」）欣然向閣下呈報本集團截至二零二五年十二月三十一日止年度的全年業績。 On behalf of the board (the “Board”) of directors (the“Directors”) of Litu HoldingsLimited (the “Company”) and itssubsidiaries (together the “Group”), I am pleased to presentto you the annual results of the Group for the year ended31 December 2025. 業務回顧 BUSINESS REVIEW 於二零二五年，中華人民共和國（「中國」）國內生產總值比去年增長5.0%，與二零二四年5.0%的增長率及年初設定約5.0%的增長目標均相符。二零二五年中國人均國內生產總值達到人民幣99,665元。 In 2025, the gross domestic product (GDP) of the People’sRepublic of China (the “PRC”) increased by 5.0% compared tothe previous year, matching both the 5.0% growth rate in 2024and the growth target of around 5.0% set at the beginningof the year. In 2025, the GDP per capita of the PRC reachedRMB99,665. 與此同時，於二零二五年，中國香煙產量按年增長0.2%。然而，受限於煙草行業強制招標政策下投標價格下跌及原材料價格上升，在行業競爭加劇的環境中，本集團面對一定經營壓力。自二零二零年十二月起，未能成功投得部分客戶未來數年的訂單，對本集團的整體收益及盈利能力已造成並預期於未來數年繼續造成不利財務影響。本集團自持續經營業務的總收益由二零二四年約725,500,000港元下跌23.3%至二零二五年約556,500,000港元。 Meanwhile, PRC cigarette production increased by 0.2% year-on-year in 2025. However, given the decrease in tenderingprices under the mandatory tendering policy in effect for thecigarette industry and the increase in raw material prices,the Group faced considerable operating pressure amidintensifying industry competition. Since December 2020, theunsuccessful bid in the tender of some customers for ordersin the coming years has had, and is expected in the comingyears to continue to have, an adverse financial impact on theoverall revenue and profitability of the Group. Total revenuefrom continuing operations of the Group decreased by 23.3%from approximately HK$725.5 million in 2024 to approximatelyHK$556.5 million in 2025. 為回應投標價格下跌的壓力，本集團已實施一系列措施，以應對本集團盈利能力的挑戰。該等措施包括簡化管理結構，提高決策效率以適應快速變化的市場需求；改善存貨管理以維持存貨於合適水平及實施原材料採購投標制度，提高採購價的議價能力，以減低及控制採購成本。 In response to the pressure of the fall of tender prices, theGroup has implemented a series of measures in order to copewith the challenges to the profitability of the Group. Thesemeasures included sim