通天酒业2025年年报

ANNUAL REPORT CONTENTS目 錄 2Financial Highlights5Corporate Information9Management Discussion and Analysis14Directors and Senior Management21Directors’ Report40Corporate Governance Report64Environmental, Social and Governance Report98Independent Auditor’s Report105Consolidated Statement of Profit or Loss andOther Comprehensive Income106Consolidated Statement of Financial Position108Consolidated Statement of Changes in Equity109Consolidated Statement of Cash Flows111Notes to the Consolidated Financial Statements FINANCIAL HIGHLIGHTS財務概覽 Profitability dataRevenue Gross profit/(loss)Total comprehensive income/(expense) for the year attributableto owners of the Company andnon-controlling interestsTotal comprehensive (expense)/income for the year attributableto owners of the Company(Loss)/earnings per share– Basic (RMB cents)(Note 1)– Diluted (RMB cents)(Note 2) Gross profit/(loss) marginNet profit/(loss) marginEffective tax rateReturn on equity(Note 3)Return on assets(Note 4) Notes: FINANCIAL HIGHLIGHTS財務概覽 Notes:5.Current ratio equals current assets divided by current liabilities asat the end of each year.6.Quick ratio equals current assets minus inventory, divided bycurrent liabilities as at the end of each year.7.Gearing ratio equals the debts incurred in the ordinary course ofbusiness divided by total assets as at the end of each year.8.The calculation of net asset value per share is based on the totalnumber of shares in issue at the end of the year.9.Inventory turnover days are computed by dividing the averageof the beginning and closing inventory balance in the respectivefinancial year by cost of sales and multiplied by 365 days.10.Trade receivables turnover days are computed by dividing theaverage of the beginning and closing trade receivables balancein the respective financial year by revenue and multiplied by 365days.11.Trade payables turnover days are computed by dividing theaverage of the beginning and closing trade payables balance inthe respective financial year by cost of sales and multiplied by 365days.5.6.7.8.9.36510.36511.365 CORPORATE INFORMATION 公司資料 EXECUTIVE DIRECTORS Mr. Sun Jialiang(Chairman and Chief Executive Officer)Mr. Huang ChuwuMr. Qiu Ziwei(Appointed on 15 December 2025) NONEXECUTIVE DIRECTORS Mr. Li Jerry Y.Mr. Zhu MinghuiMr. Guo Yuxin(Appointed on 15 December 2025) INDEPENDENT NONEXECUTIVEDIRECTORS Mr. Li LiangMs. Lui Mei KaMr. Chan Wai Kit COMPANY SECRETARYMr. Lai Wai HingMs. Kwong Oi Man Patty AUDIT COMMITTEEMs. Lui Mei Ka(Chairlady)Mr. Li LiangMr. Chan Wai Kit REMUNERATION COMMITTEE Mr. Li Liang(Chairman)Ms. Lui Mei KaMr. Chan Wai Kit NOMINATION COMMITTEE Mr. Sun Jialiang(Chairman)Mr. Li LiangMs. Lui Mei KaMr. Chan Wai Kit AUTHORISED REPRESENTATIVES Mr. Sun JialiangMs. Kwong Oi Man Patty CORPORATE INFORMATION公司資料 REGISTERED OFFICE Clarendon House2 Church StreetHamilton HM 11Bermuda Clarendon House2 Church StreetHamilton HM 11Bermuda PRINCIPAL PLACE OFBUSINESS IN HONG KONG 299902 Unit 902, 9/F.29 Austin RoadTsim Sha TsuiKowloon, Hong Kong HEAD OFFICE IN THE PRC 1001D31901 Room 1901, Building D3 Nanshan ZhiyuanNo. 1001 Xueyuan Avenue, Changyuan Community,Taoyuan Street, Nanshan District, ShenzhenPRC PRINCIPAL SHARE REGISTRAR ANDTRANSFER OFFICE Appleby Global Corporate Services (Bermuda)LimitedCanon’s Court, 22 Victoria StreetPo Box HM 1179, Hamilton HM EXBermuda Appleby Global Corporate Services (Bermuda)LimitedCanon’s Court, 22 Victoria StreetPo Box HM 1179, Hamilton HM EXBermuda BRANCH SHARE REGISTRAR ANDTRANSFER OFFICE IN HONG KONG 1617 Tricor Investor Services Limited17/F, Far East Finance Centre16 Harcourt RoadHong Kong CORPORATE INFORMATION公司資料 ZM Lawyers88-9888 20 LEGAL ADVISERSAs to Hong Kong lawZM Lawyers20/F., Central 88,Nos. 88-98 Des Voeux Road CentralHong Kong As to PRC law 1 Guangdong Sun Law Firm6th, 7th, 16th FloorPublic Transport BuildingNo.1 Lianhua Branch RoadFutian DistrictShenzhen, Guangdong ProvincePRC AUDITOR 8191903-1905 Prism Hong Kong LimitedCertified Public AccountantsUnits 1903-1905, 19/F.8 Observatory RoadTsim Sha TsuiHong Kong CORPORATE INFORMATION公司資料 PRINCIPAL BANKERS 1 Bank of China (Hong Kong) LimitedBank of China Tower Branch1 Garden RoadHong Kong 3059102 Industrial and Commercial Bank of ChinaShenzhen Shengang BranchRoom 102, Shenye Taifu Science and TechnologyInnovation Building, No. 3059 Baoan North Road,Lowu District, Shenzhen,Guangdong Province, PRC http://www.00389.hk COMPANY WEBSITEhttp://www.00389.hk SHARE INFORMATION 301,561,8002,000 Listing date: 19 November 2009Stock name: Tontine WinesNumber of issued sharesas at 31 December 2025: 301,561,800 sharesBoard lot: 2,000 shares 389 STOCK CODE389 FINANCIAL YEAREND DATE31 December MANAGEMENT DISCUSSION AND ANALYSIS管理層討論及分析 FINANCIAL REVIEW In 2025, the wine industry continued its trend from the past threeyears and remained in a downturn. This, coupled with a sluggishdomestic economy as a whole, has dented consumer sentiment