帝王实业控股有限公司 二零二五年年报

（Stock Code：1950）（股份代號：1950） 2025 Contents Corporate Information2Financial Highlights5Statement from the Board of Directors6Management Discussion and Analysis8Biographies of Directors and Senior Management18Directors’Report23Corporate Governance Report40Independent Auditor’s Report58Consolidated Statement of Profit or Loss and OtherComprehensive Income65Consolidated Statement of Financial Position67Consolidated Statement of Changes in Equity69Consolidated Statement of Cash Flows70Notes to the Consolidated Financial Statements72Five Year Financial Summary168 Corporate Information BOARD OF DIRECTORSExecutive Directors 2025812025731 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. Wong Ka SingMr. Lam Kam Kong Nathaniel 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 Road,Tsim Sha Tsui, Kowloon, Hong Kong PRINCIPAL BANKBank of Communications Co., Ltd.Bank of China (Hong Kong) Limited www.dwhl1950.com COMPANY’S WEBSITEwww.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 Corporate Information HEAD OFFICE AND PRINCIPAL PLACEOF BUSINESS IN THE PRC 2 No.2, Jiangshan RoadMeicheng TownJiande CountyHangzhou CityZhejiang ProvincePRC PRINCIPAL PLACE OF BUSINESSIN HONG KONG 15111101 1101, 11thFloor,Gloucester Tower, The Landmark,15 Queen’s Road Central,Hong 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 Financial Highlights 202512 312024123132,870,0005.80%599,345,0002024566,475,000 Forthe year ended 31 December 2025(the“Year”or“Reporting Period”),the revenue of the Group wasapproximately RMB599,345,000 (2024: RMB566,475,000),representing an slight increase of approximately RMB32,870,000or 5.80% as compared to the year ended 31 December 2024 (the“Prior Year”). 27,866,00010.8%285,165,0002024257,299,000 The gross profit of the Group for the Year was approximatelyRMB285,165,000 (2024: RMB257,299,000), representing anincrease of approximately RMB27,866,000 or 10.8% as comparedto the Prior Year. 1,774,00030,015,0002,493,000202430,030,000 For the Year, the Group recorded net loss of approximatelyRMB1,774,000 as compared to the net profit of approximatelyRMB30,015,000 for the Prior Year. Profit for the year attributableto owners of the Company was approximately RMB2,493,000(2024: RMB30,030,000). 0.3520244.17 The basic and diluted earning per share was RMB0.35 cents(2024: basic and diluted earning per share was RMB4.17 cents). The Board has resolved not to declare the final dividend for theYear. Statement from the Board of Directors To all shareholders, On behalf of the Board of Directors (the“Board”) of DiwangIndustrial Holdings Limited (the“Company”), we are pleased topresent the annual report along with the audited consolidatedfinancial statements of the Company and its subsidiaries (the“Group”) for the year. 20252025 The global business environment in 2025 is shaped by ongoingeconomic and geopolitical developments. Political events involvingRussia and Ukraine, together with tensions between the UnitedStates and Iran and other international disputes, have contributedto market fluctuations and influenced financial conditionsworldwide. These circumstances disrupted trade flows, alteredinvestment trends, and affected interest rate policies, leading toextended periods of economic adjustment and recovery. As aresult, economic uncertainty, market volatility, and unpredictablegeopolitical tensions are expected to continue affecting the globaleconomy throughout 2025. 20252025 Despite prevailing global uncertainties including ongoing conflictsinvolving Russia and Ukraine, tensions between the United Statesand Iran, and broader geopolitical frictions, China’s economy isforecast to begin recovering in 2025. Continued trade tensionswith the United States, encompassing disputes over tax policies andcompetitive