中国汽车内饰2025 年报

CONTENTS目錄 2Corporate Information4Chairman’s Statement & Management Discussion and Analysis12Biographical Information of Directors and Senior Management14Corporate Governance Report29Directors’ Report41Independent Auditor’s Report49Consolidated Statement of Profit or Loss and OtherComprehensive Income51Consolidated Statement of Financial Position53Consolidated Statement of Changes in Equity54Consolidated Statement of Cash Flows56Notes to the Consolidated Financial Statements132Summary of Financial Information CORPORATE INFORMATION公司資料 Executive Directors Mr. Zhuang Yuejin(Chairman)Mr. Ng Chung HoMs. Xiao Suni Independent Non-Executive Directors Ms. Ng Li La, AdelineMs. Zhu ChunyanMr. Yuen Wai Keung Audit Committee Mr. Yuen Wai Keung(Chairman)Ms. Ng Li La, AdelineMs. Zhu Chunyan Remuneration Committee Mr. Yuen Wai Keung(Chairman)Mr. Zhuang YuejinMs. Zhu Chunyan Nomination Committee Mr. Zhuang Yuejin(Chairman)Ms. Ng Li La, AdelineMr. Yuen Wai Keung Company SecretaryMr. Man Yun Wah Authorised RepresentativesMr. Zhuang YuejinMr. Man Yun Wah 255151501 Auditors Infinity CPA LimitedCertified Public AccountantsRoom 1501, 15th FloorOlympia Plaza, 255 King’s RoadNorth Point, Hong Kong Registered Office Cricket SquareHutchins DriveP.O. Box 2681Grand Cayman, KY1-1111Cayman Islands Cricket SquareHutchins DriveP.O. Box 2681Grand Cayman, KY1-1111Cayman Islands CORPORATE INFORMATION(Continued)公司資料 Headquarter and Principal Place of Businessin Hong Kong 3737A Unit A, 7th FloorMax Share Centre373 King’s RoadNorth Point, Hong Kong 28 Principal Place of Business in the PRC No. 28 Xinfeng Road, Xinfeng Industrial Park,Fangqian Town New District,Wuxi City, Jiangsu Province, the PRC Cayman Islands Share Registrar andTransfer 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 Hong Kong Branch Share Registrar andTransfer Office 1617 Tricor Investor Services Limited17/F, Far East Finance Centre16 Harcourt RoadHong Kong Principal Banker Industrial and Commercial Bank of ChinaBank of China www.hklistco.com/48 Company Websitewww.hklistco.com/48 48 Stock Code 48 CHAIRMAN’S STATEMENT & MANAGEMENT DISCUSSION AND ANALYSIS主席報告及管理層討論與分析 Dear Shareholders, Onbehalf of the board of Directors(the“Board”)of ChinaAutomotive Interior Decoration Holdings Limited (the “Company”),I am pleased to present the audited annual results of the Companyand its subsidiaries (collectively referred to as the “Group”) for theyear ended 31 December 2025. FINAL DIVIDEND The Directors do not recommend the payment of a final dividend forthe year ended 31 December 2025. BUSINESS REVIEW The Group is principally engaged in the manufacture and sale of non-woven fabric related products used in automotive interior decorationparts and other parts during the year ended 31 December 2025.TheGroup deploys financial resource to securities investment toachieve earnings in the form of capital appreciation and income fromdividends. The Group also taps into the business of financial servicesthrough the investment in a securities house. Manufacture and sale of non-woven fabricrelated products Manufacture and sale of non-woven fabric related products is oneof the principal business of the Group. The Group manufactures itsproducts with single layer or multiple layers of non-woven fabric inaccordancewith specific requirements and standards of differentcustomers.Most of the customers of non-woven fabric relatedproductsare primary manufacturers and suppliers of automotiveparts in the PRC. The majority of the Group’s products are furtherprocessed by these customers in order to make different automotivepartssuch as floor,head lining,seat cover,parcel tray,trunk,luggage-sidetrim,hubcap and car-mat,which are of differentcharacteristics and are to be applied for different usages in passengervehicles.Since 2021,the Group commenced the production andsupply of the automotive components to components suppliers ofautomotive manufacturer. Accordingto the information released from China Association ofAutomobile Manufacturers (“CAAM”), the production and sales ofpassenger vehicles in the PRC were approximately 30,270,000 unitsand 30,103,000 units respectively for the year ended 31 December2025, representing an increase of approximately 10.2% and 9.2%.Thesegrowth in passenger vehicles market resulted in a stabledemand for automotive materials of the Group during 2025. 30,270,00030,103,00010.2%9.2% CHAIRMAN’S STATEMENT & MANAGEMENT DISCUSSION AND ANALYSIS(Continued)主席報告及管理層討論與分析 TheGroup’s production of non-woven fabric products requiressubstantialquantities of raw materials,primarily consisting ofartificial and synthetic fibres, which are derived from crude oil. Asurge increase in crude oil prices in 2026 would elevate the Group’sraw material costs. During the year