旷世芳香2025年年报

CONTENTS 02Definition05Corporate information09Chairman’s statement11Management discussion and analysis20Directors and senior management27Report of the directors38Corporate governance report53Independent auditor’s reportConsolidated financial statements60Consolidated statement of profit or loss andother comprehensive income62Consolidated statement of financial position64Consolidated statement of changes in equity66Consolidated statement of cash flows68Notes to the consolidated financial statements168Summary financial information In case of any inconsistency between the English version and theChinese version of this annual report, the English version shallprevail. And if there is any inconsistency between the Chinesenames of the entities or enterprises established in the PRCmentioned in this annual report and their English translations,the Chinese names shall prevail. The English translations of theChinese names of such PRC entities or enterprises are providedfor identification purposes only. the director(s) of the Company , a company established underthe laws of the PRC with limited liability and is indirectly owned asto 90% by Mr. JIN Jianxin (), 9% by Ms. CHENG Jiangyan () and 1% by Mr. CHEN Dingfei () 90%9%1% BOARD OF DIRECTORS Executive Directors Mr. JIN Jianxin (Chairman)Mr. TIAN Dong Non-executive Director 202577 Mr. SHAO Patrick (resigned on 7 July 2025) Independent non-executive Directors Mr. LAI Chun YuMs. XU QiongMr. ZHOU Kai COMPANY SECRETARY Mr. LAU Chung Wai (FCPA (Practising)) AUDIT COMMITTEE Mr. LAI Chun Yu (Chairman)Ms. XU Qiong (appointed on 7 July 2025)Mr. ZHOU KaiMr, SHAO Patrick (removed on 7 July 2025) 202577202577 REMUNERATION COMMITTEE Mr. ZHOU Kai (Chairman)Mr. JIN JianxinMr. LAI Chun Yu NOMINATION COMMITTEE Ms. XU Qiong (Chairlady)Mr. JIN JianxinMr. LAI Chun Yu AUTHORISED REPRESENTATIVES (for the purpose of the Listing Rules)Mr. LAU Chung WaiMr. TIAN Dong EXTERNAL AUDITOR PricewaterhouseCoopersCertified Public AccountantsRegistered Public Interest Entity Auditor22nd FloorPrince’s BuildingCentral, Hong Kong 22 CORPORATE INFORMATION(CONTINUED) REGISTERED OFFICE 89 Nexus WayCamana BayGrand CaymanKY1-9009Cayman Islands 89 Nexus WayCamana BayGrand CaymanKY1-9009Cayman Islands PRINCIPAL PLACE OF BUSINESS IN HONG KONG 84111102 Unit 1102, 11th FloorBrill Plaza, No. 84 To Kwa Wan RoadTo Kwa Wan, KowloonHong Kong HEAD OFFICE AND PRINCIPAL PLACE OFBUSINESS IN THE PRC 827 827 Qixiang RoadNingbo City, Zhejiang ProvincePRC PRINCIPAL SHARE REGISTRAR Ogier Global (Cayman) Limited89 Nexus WayCamana BayGrand CaymanKY1-9009Cayman Islands Ogier Global (Cayman) Limited89 Nexus WayCamana BayGrand CaymanKY1-9009Cayman Islands HONG KONG SHARE REGISTRAR 1617 Tricor Investor Services Limited17th Floor, Far East Finance CentreNo. 16 Harcourt RoadHong Kong STOCK CODE 1925 1925 WEBSITE http://www.kwungs.com(information on the website does not form part of this annual report) http://www.kwungs.com Dear Shareholders, Looking back over the past year, the Company encountered dauntingchallenges due to the EU’s anti-dumping measures, and the pressuresfrom external macroeconomic environment also posed significantadverse impact on its development. In 2025, the Company achievedoperating revenue of RMB882 million, representing a year-on-yeardecrease of 11.9%, while our net profit was RMB35.8 million, down69.86% compared to the previous year. (For details, see page 60 of thisreport.) 202588211.9%35.869.86%60 We seek opportunities amid crises and achieved breakthrough andgrowth. Immediately upon the EU launching the anti-dumpinginvestigation, the Company adopted forward-looking planning toestablish its overseas factories, a move laying a solid foundation forpromptly halting the downward trend in business performance. CHAIRMAN’S STATEMENT(CONTINUED) Looking ahead, the Company will always take consumer needs as thecore, deeply explore the health value and emotional value of aromaticproducts, continue to increase R&D investment, iterate and upgradethe scenario-based marketing mechanism, enhance market efficiencythrough refined operations, and vigorously expand the domestic marketand the North America market, so as to promote its sustainable andhealthy development through market diversification. “” This year, the Company launched an all-round organizationaltransformation, focusing on cultivating and attracting young talentsand key employees to form a younger and more professional leadershipteam, injecting fresh vitality and strong momentum into its corporatedevelopment. We will adhere to the core philosophy of“joint endeavorand shared success”, establish and improve standardized operationstandards and management mechanisms, and optimize strategies inlight of actual conditions in the domestic and overseas markets. Wewill strive to advance implementing the next phase of the three-yearstrategic objectives, achieving win-win results and value co-creation forcustomers, employe