5100藏冰川有限公司2025年年度报告

CONTENTS目錄 GROUP INFORMATION & RESULTS OVERVIEW集團資料及業績概要 DIRECTORS’ REPORT & CORPORATE GOVERNANCE董事會報告及企業管治Directors’ Report38董事會報告Corporate Governance Report72企業管治報告 FINANCIAL INFORMATION財務資料Independent Auditors’ Report94獨立核數師報告Consolidated Statement of Profit or Loss103綜合損益表Consolidated Statement of Other Comprehensive Income104綜合其他全面收益表Consolidated Statement of Financial Position105綜合財務狀況表Consolidated Statement of Changes in Equity107綜合權益變動表Consolidated Statement of Cash Flows109綜合現金流量表Notes to the Consolidated Financial Statements112綜合財務報表附註Definitions282詞彙 CORPORATE INFORMATION公司資料 本公司董事會 THE BOARD OF THE COMPANYEXECUTIVE DIRECTORS Mr. CHOW Wai KitMr. CHENG Gwan SingMr. YUE Zhiqiang 執行董事 NON-EXECUTIVE DIRECTORS 非執行董事 Ms. JIANG XiaohongMr. XIE KunMr. WEI ZhemingMr. CHEN Di(Chairman)(appointed with effect from 15 July 2025) INDEPENDENT NON-EXECUTIVE DIRECTORS 獨立非執行董事 Dr. ZHANG Chunlong(resigned as Chairman with effect from 15 July 2025)Mr. LO Wai HungMs. LIN TingMs. ZHENG Jue(appointed with effect from 15 October 2025) CO-CHIEF EXECUTIVE OFFICER 聯席行政總裁 Mr. WANG DongMr. DU Hui(resigned on 13 February 2026) 公司秘書 COMPANY SECRETARYMr. CHOW Wai Kit 授權代表 AUTHORISED REPRESENTATIVESMr. CHOW Wai KitMr. CHENG Gwan Sing INDEPENDENT EXTERNAL AUDITORHLB Hodgson Impey Cheng LimitedCertified Public Accountants 獨立外聘核數師 法律顧問－關於香港法律 LEGAL ADVISOR – AS TO HONG KONG LAWSit, Fung, Kwong & Shum, Solicitors CORPORATE INFORMATION 法律顧問－關於開曼群島法律 LEGAL ADVISOR – AS TO CAYMAN ISLANDS LAWConyers Dill & Pearman 註冊辦事處 REGISTERED OFFICE Cricket Square, Hutchins DriveP.O. Box 2681, Grand Cayman, KY1-1111Cayman Islands Cricket Square, Hutchins DriveP.O. Box 2681, Grand Cayman, KY1-1111Cayman Islands 總部及香港主要營業地點 HEADQUARTERS AND PRINCIPAL PLACE OFBUSINESS IN HONG KONG 9523D Unit D, 23rd Floor, United Centre95 Queensway, AdmiraltyHong Kong 香港股份登記分處 HONG KONG BRANCH SHARE REGISTRAR 3382333301-04+852 2849 3399+852 2849 3319 Union Registrars LimitedSuites 3301–04, 33/F.Two Chinachem Exchange Square338 King’s RoadNorth Point, Hong KongPhone: +852 2849 3399Fax: +852 2849 3319 主要股份登記及過戶處 PRINCIPAL SHARE REGISTRAR AND TRANSFER OFFICE Conyers Trust Company (Cayman) LimitedCricket Square, Hutchins DriveP.O. Box 2681, Grand Cayman, KY1-1111Cayman Islands Conyers Trust Company (Cayman) LimitedCricket Square, Hutchins DriveP.O. Box 2681, Grand Cayman, KY1-1111Cayman Islands 公司資料查閱網址* WEBSITES TO ACCESS COMPANY INFORMATION* http://www.twr1115.nethttp://www.hkexnews.hk http://www.twr1115.nethttp://www.hkexnews.hk 聯交所主板股份代號 STOCK CODE ON MAIN BOARD OF THE STOCK EXCHANGE1115 1115 * *contents of the websites do not form part of this Annual Report LETTER TO SHAREHOLDERS LETTER TO SHAREHOLDERS Dear Shareholders, 5100 The Board has reviewed and approved the annual results announcement ofthe Company. On behalf of the Board and the management team, I herebyextend my sincere gratitude to all shareholders who have long cared forand supported 5100 Xizang Glacier. Over the past year, the Company’soperationshave achieved a fundamental improvement and successfullyturned losses into profits. The overall financial position, business structureandoperational efficiency have been continuously optimised,laying asolid foundation for the Company to return to the track of high-qualitydevelopment. During the Reporting Period, the Company focused on its core principalbusiness of high-end glacier drinking water, and the “Tone Tone Card”businessachieved rapid breakthroughs.Targeting household,corporateand high-end group customers, we vigorously promoted the Dun Dun Cardsubscription service. By securing long-term orders, we effectively stabilisedcashflow and improved customer repurchase rates.The Dun Dun Cardbusiness not only optimised the channel structure and reduced distributioncosts, but also became a major profit growth driver for the water business,further consolidating the Company’s differentiated advantages in the high-end drinking water market. The Company has simultaneously accelerated its global expansion strategy,with Hong Kong and Macao as its frontier window, and actively expandedintothe high-end drinking water markets in Southeast Asia and otheroverseasregions.Through cooperation with overseas distributors,cross-bordere-commerce operations and customised solutions for high-endscenarios, the Company has promoted its scarce glacial water resourcesto the international market, enhanced the brand’s global influence, andgradually established a business framework featuring dual domestic andinternational circulation. Inrespect of brand building,the Company has strengthened multi-brandpromotion and publicity.Centering on the scarcity of watersources,high-end quality and the concept of healthy consumption,theCompany has integrated online and offline resources. Through new mediacommunication,scenario-based marketing,cross-border cooperationand exposure in high-end channels, it has continuously enhanced brandawareness