恒富控股有限公司年度报告

Annual Report CONTENTS目錄 2Corporate Profile3Corporate Information6Financial Highlights7Chairman’s Statement9Management Discussion and Analysis16Corporate Governance Report36Report of the Directors53Independent Auditor’s Report59Consolidated Statement of Profit or Loss andOther Comprehensive Income60Consolidated Statement of Financial Position62Consolidated Statement of Changes in Equity64Consolidated Statement of Cash Flows66Notes to the Consolidated Financial Statements Corporate Profile集團簡介 CARRY WEALTH HOLDINGS LIMITED The Group’s principal activity is manufacturing and trading garmentproducts for internationally renowned brand names. The Groupengages overseas subcontractors for its manufacturing process. Headquartered in Hong Kong, Carry Wealth Holdings Limited hasbeen listed on the Main Board of The Stock Exchange of HongKong Limited since 2000. The Chinese name of the Company means “enduring prosperity”.T h eG r o u p i s c o m m i t t e d t o m a x i m i z i n g t h e r e t u r n o f i t sshareholders for their ongoing support. Corporate Information公司資料 Executive Directors Mr. Zhang ZiXing(Chairman) (appointed on 11 April 2025as Co-Chairman and executive director and became Chairmanon 30 April 2025) Mr. Lee Chi Ho(appointed on 16 June 2025) Mr. Shen Peng(Co-Chairman) (became Co-Chairman on11 April 2025 and resigned as Co-Chairman andexecutive director on 30 April 2025) Mr. Choi Tan Yee(resigned on 16 June 2025) Mr. Tsang Chun Ho Anthony(resigned on 15 January 2025) Independent Non-Executive DirectorsMr. Cheng Wai Hei(Lead Independent Non-executive Director) Mr. Lam Chi Wing Audit CommitteeMr. Cheng Wai Hei(Committee Chairman) Mr. Lam Chi Wing Ms. Li Qian(appointed on 16 June 2025) Ms. Chiu Hoi Shan(resigned on 16 June 2025) Remuneration CommitteeMr. Lam Chi Wing(Committee Chairman) Mr. Cheng Wai Hei Ms. Li Qian(appointed on 16 June 2025) Ms. Chiu Hoi Shan(resigned on 16 June 2025) Corporate Information 公司資料 Nomination CommitteeMr. Lam Chi Wing(Committee Chairman) Mr. Cheng Wai Hei Ms. Li Qian(appointed on 16 June 2025) Ms. Chiu Hoi Shan(resigned on 16 June 2025) Investment CommitteeMr. Zhang ZiXing(Committee Chairman) (appointed on 16 June 2025) Mr. Lee Chi Ho(appointed on 16 June 2025) Mr. Choi Tan Yee(resigned on 16 June 2025) Mr. Tsang Chun Ho Anthony(resigned on 15 January 2025) Company SecretaryMs. Lam Wai Authorised RepresentativeMr. Lee Chi Ho(appointed on 16 June 2025) Ms. Lam Wai Auditors 213272702 ZSZH (HK) Fuson CPA LimitedRegistered Public Interest Entity AuditorRoom 2702, 27/FWu Chung Building213 Queen’s Road EastWan ChaiHong Kong Principal BankersBank of China (Hong Kong) LtdChina CITIC Bank International LimitedStandard Chartered Bank Carry Wealth Holdings Limited恒富控股有限公司4 Corporate Information 公司資料 Principal Share Registrar and Transfer AgentConyers Corporate Services (Bermuda) LimitedClarendon House, 2 Church StreetHamilton HM 11, Bermuda Conyers Corporate Services (Bermuda) LimitedClarendon House, 2 Church StreetHamilton HM 11, Bermuda 1617 Branch Share Registrar and Transfer Agent in Hong KongTricor Investor Services Limited17/F., Far East Finance Centre16 Harcourt Road, Hong Kong Registered OfficeClarendon House, 2 Church StreetHamilton HM 11, Bermuda Clarendon House, 2 Church StreetHamilton HM 11, Bermuda Head Office and Principal Place of Business in Hong KongUnit 903, 9/F.,Harbour Crystal Centre100 Granville RoadTsim Sha TsuiKowloon, Hong KongTel: (852) 2180 0001 1009903(852) 2180 0001 1009903 HL LawyersUnit 903, 9/FHarbour Crystal Centre100 Granville RoadTsim Sha TsuiKowloon, Hong Kong www.carrywealth.com Websitewww.carrywealth.com info@carrywealth.com E-mail Addressinfo@carrywealth.com 643 Stock Code643 10,000 Board Lot Size10,000 shares Financial Highlights財務摘要 Chairman’s Statement主席報告 On behalf of the board of directors (the “Board”) of Carry WealthHoldings Limited (the “Company”, together with its subsidiaries, the“Group”), I hereby present the annual report of the Group for the yearended 31 December 2025. 2025 was a year of continued economic uncertainty and industrychallenges. Global inflationary pressures persisted, and geopoliticaltensions disrupted supply chains and dampened consumer demand inour key markets. For the Group, this year focused on completing ourstrategic production restructuring while navigating a downturn in corebusiness performance. 52.6%315.2664.725.566.146.233.8 In the face of these headwinds, the Group’s revenue decreased by52.6% to HK$315.2 million (2024: HK$664.7 million), mainly due toreduced customer orders from the US and Europe, which are ourprimary markets. Gross profit fell to HK$25.5 million (2024: HK$66.1million), impacted by rising subcontracting costs. The Group recordedan annual loss of HK$46.2 million (2024: HK$33.8 million), reflecting thepressure from revenue contraction and ongoing cost challenges. 48.569.81.8 Despite these difficulties, we successfully completed ou