捷荣国际控股二零二六年中期报告

CONTENTS2Corporate Information5Management Discussion and Analysis16Independent Review Report18Condensed Consolidated Statement of Profit or Loss19Condensed Consolidated Statement ofComprehensive Income20Condensed Consolidated Statement of FinancialPosition22Condensed Consolidated Statement of Changes inEquity24Condensed Consolidated Statement of Cash Flows27Notes to the Condensed Consolidated FinancialInformation59Other Information Corporate Information BOARD OF DIRECTORS Executive Directors Mr. Wong Tat Tong(Chairman)Ms. Fan Yee ManMr. Kam Chun Pong Bernard Non-Executive Directors Ms. Yeung Po YanMr. Ho Hung Wai Independent Non-Executive Directors Mr. Tang Kwai ChangMr. Wong Man FaiMr. Lok Kung Chin Hardy BOARD COMMITTEES Audit Committee Mr. Tang Kwai Chang(Chairman)Mr. Wong Man FaiMr. Lok Kung Chin Hardy Nomination Committee Mr. Wong Tat Tong(Chairman)Ms. Fan Yee ManMr. Tang Kwai ChangMr. Wong Man FaiMr. Lok Kung Chin Hardy Corporate Information (continued) Remuneration Committee Mr. Wong Man Fai(Chairman)Mr. Wong Tat TongMr. Tang Kwai Chang COMPANY SECRETARY Ms. Fan Yee Man(HKICPA) AUTHORISED REPRESENTATIVES Ms. Fan Yee ManMr. Kam Chun Pong Bernard REGISTERED PUBLIC INTERESTENTITY AUDITOR Ernst & Young PRINCIPAL LEGAL ADVISORS ASTO HONG KONG LAW 16–18117 1710–1711 CFN Lawyers LLP in Association withBeijing Anli (Hong Kong) PartnersRooms 1710–171117/F, New World Tower 1Nos. 16–18 Queen’s Road CentralCentral, Hong Kong PRINCIPAL BANKS Bank of China (Hong Kong) LimitedChong Hing Bank Limited REGISTERED OFFICE IN BERMUDA Canon’s Court22 Victoria StreetHamilton, HM 12Bermuda Canon’s Court22 Victoria StreetHamilton, HM 12Bermuda Corporate Information (continued) HEAD OFFICE AND PRINCIPAL PLACEOF BUSINESS IN HONG KONG 15–33111 F–J Flats F–J, 11th Floor, Block 1Kwai Tak Industrial Centre15–33 Kwai Tak StreetKwai ChungNew TerritoriesHong Kong PRINCIPALSHARE REGISTRAR ANDTRANSFER OFFICE IN BERMUDA Appleby Global Corporate Services(Bermuda) LtdCanon’s Court22 Victoria StreetHamilton, HM 12Bermuda Appleby Global Corporate Services(Bermuda) LtdCanon’s Court22 Victoria StreetHamilton, HM 12Bermuda HONG KONG SHARE REGISTRAR 1617 Tricor Investor Services Limited17th Floor, Far East Finance Centre16 Harcourt RoadHong Kong COMPANY’S WEBSITE www.twcoffee.com www.twcoffee.com STOCK CODE 2119 2119 Management Discussion and Analysis BUSINESS REVIEW 2026398.4202518.04.7% Beinga key integrated business-to-businesscoffee and black tea solutions provider in HongKong,Tsit Wing International Holdings Limited(the “Company”, together with its subsidiaries,the “Group”), inevitably faces challenges whileHong Kong’s food and beverage sector faced asevere wave of restaurant closures in the firsthalfof 2026.The Group’s business in theChinese Mainland continued to operate under anincreasinglycompetitive environment.Despitetheseheadwinds,the Group recorded a totalrevenueof approximately HK$398.4 million,representing a slight increase of approximatelyHK$18.0million or 4.7%compared to thecorresponding period in 2025. 202623.720251.24.8%20256.5%0.6%20265.9% TheGroup’s resilience under the challengingmarket was demonstrated by its relatively stableperformance in recording profit of approximatelyHK$23.7 million in the first half of 2026 (down byapproximately HK$1.2 million, or 4.8% comparedto the corresponding period in 2025). Attributableto the increased cost of goods and raw materials,aswell as costs spent for implementation ofmeasurestargeting to achieve optimisationswithin the Group in the long run, the Group’s netprofitmargin for the period slightly decreasedby 0.6% from approximately 6.5% (first half of2025) to approximately 5.9% (first half of 2026).Theoverall revenue and profit performance oftheGroup remained relatively steady,due totremendous efforts of the Group in maintainingand diversifying its customer base. Management Discussion and Analysis (continued) BUSINESS PROSPECT Movingforward,the Group aims to continueefforts towards adopting a proactive yet prudentapproach in navigating challenges faced by theGroup. Although the general economic outlookofHong Kong has improved against previousyears,the overall food and beverage industrylags in comparison, both in terms of growth andwhencompared to pre-pandemic levels.TheGroupwill continue pursuing measures tobroaden its customer base to minimise marketrisk. 2025 TheGroup maintains a cautiously optimisticoutlooktowards the remainder of the year,considering how coffee commodity prices havebecomerelatively stabilised compared to thevolatility experienced during 2025. Despite thispositiveturn,the Group will continue toproactivelymonitor commodities prices tooptimisecosts.Further initiatives towardsdigitalisationand streamlining operations,particularly in the Chinese Mainland, are alreadyunderway. The Group remains dedicated towards driving along-lastingand consistent business model.Effortswill be made to place the Group in apositionto