恒安国际二零二三年报

(Incorporated in the Cayman Islands with limited liability)Stock code: 1044 2 0 2 3a n n u a lR E P O R T Corporate Mission “GROWINGWITHYOU FORABETTER LIFE” has always been the mission of Hengan International. Wewillcontinue to adhere to our corporate spirit of“Integrity, Diligence, Innovation and Dedication”. Our goalis “to build an effective corporate management and todevelopa high quality,ethical and enthusiastic staffteam”.By building an excellent corporate culture,reinforcing our brand image, and focusing on consumerandmarket need,Hengan International will becomeChina’sleading corporation in manufacturing anddistribution of fast moving family consumer products. Content Corporate InformationFinancial HighlightsFive-Year Financial SummaryCompany Product SeriesChairman’s StatementChief Executive Officer’s ReportDirectors and Senior Management ProfilesCorporate Governance ReportReport of the DirectorsIndependent Auditor’s ReportConsolidated Statement of Profit or LossConsolidated Statement of Comprehensive IncomeConsolidated Balance SheetConsolidated Statement of Changes in EquityConsolidated Cash Flow StatementNotes to the Consolidated Financial Statements2468101435456793101102103105107109 Corporate Information EXECUTIVE DIRECTORS Sze Man Bok(Chairman)Hui Lin Chit(Deputy Chairman)Hui Ching Lau(Chief Executive Officer)Xu Da ZuoSze Wong KimHui Ching ChiLi Wai LeungXu Wenmo (appointed on 24 August 2023)Hung Ching Shan (retired on 22 May 2023)Xu Shui Shen (retired on 22 May 2023)Xu Chun Man (retired on 22 May 2023) INDEPENDENT NON-EXECUTIVE DIRECTORS Ada Ying Kay WongHo Kwai Ching MarkTheil Paul MarinChen ChuangChan Henry (retired on 22 May 2023) FCPA, FCPA (Aust.) COMPANY SECRETARYLi Wai LeungFCPA, FCPA (Aust.) AUTHORISED REPRESENTATIVESHui Ching LauLi Wai Leung LEGAL ADVISERSHong KongReedSmith Richards Butler PRCGlobal Law Office Maples and Calder (Hong Kong) LLP Cayman IslandsMaples and Calder (Hong Kong) LLP AUDITOR PricewaterhouseCoopersCertified Public Accountants and Registered Public InterestEntity Auditor REGISTERED OFFICE P.O. Box 309Ugland HouseGrand CaymanKY1-1104Cayman Islands P.O. Box 309Ugland HouseGrand CaymanKY1-1104Cayman Islands HEAD OFFICE Hengan Industrial CityAnhai TownJinjiang CityFujian ProvincePRC PLACE OF BUSINESS IN HONG KONG 18212101D Unit 2101D, 21st FloorAdmiralty Centre, Tower 118 Harcourt RoadHong Kong 1044 PLACE OF LISTING AND STOCK CODE The Stock Exchange of Hong Kong LimitedStock Code: 1044 http://www.hengan.comhttp://www.irasia.com/listco/hk/hengan WEBSITES http://www.hengan.comhttp://www.irasia.com/listco/hk/hengan UFJ PRINCIPAL BANKERS Bank of ChinaIndustrial and Commercial Bank of ChinaStandard Chartered BankMUFG Bank, Ltd. PRINCIPAL SHARE REGISTRAR AND TRANSFERAGENT Suntera (Cayman) LimitedSuite 3204, Unit 2A, Block 3Building D, P.O. Box 1586Gardenia Court, Camana BayGrand Cayman, KY1-1100Cayman Islands Suntera (Cayman) LimitedSuite 3204, Unit 2A, Block 3Building D, P.O. Box 1586Gardenia Court, Camana BayGrand Cayman, KY1-1100Cayman Islands BRANCH SHARE REGISTRAR AND TRANSFEROFFICE 1617 Tricor Abacus Limited17/F, Far East Finance Centre16 Harcourt RoadHong Kong INVESTORS AND MEDIA RELATIONS iPR Ogilvy Ltd.33340(852) 2136 6185 iPR Ogilvy Ltd.40th Floor, United Asia Finance Centre333 Lockhart RoadWan Chai, Hong KongTel: (852) 2136 6185 Financial Highlights Five-year Financial Summary Company Product Series “BANITORE” FIRST-AID PRODUCTS AND“BENDI” ENEMAS “HEARTTEX”, “PINO” AND “BAMBOO” POCKET HANDKERCHIEFS, BOXAND SOFT TISSUE PAPER, KITCHEN TOWELS/PAPER AND TOILET ROLLS “SPACE7”““,AND“ANERLE” SANITARYNAPKINS,PANTILINERSANDOVERNIGHTPANTS Chairman’s Statement Sze Man Bok DEAR SHAREHOLDERS, On behalf of Hengan International Group Company Limited (“HenganInternational” or the “Group”), I present its annual results for the yearended 31 December 2023. During the year under review, the globaleconomicrecovery remained sluggish due to continued inflation,tighteningmonetary policies of major economies and geopoliticalturmoil.China’s economy showed steady improvement with theimplementation of a series of policies to stabilise the economy. Despitea decline in the price of wood pulp in the second half of the year,frequent promotions further intensified market competition. Faced witha challenging and fluctuating business environment, the Group focusedon enhancing profitability and adhered to a rational promotion strategy,while steadily advancing product premiumisation and developing morehigh-qualityproducts.As a result,the Group’s gross profit marginsignificantly improved in the second half of the year. Moreover, theGroup actively developed and optimised its e-commerce and new retailchannels to increase its market share. Despite the fierce competitioninthe domestic daily necessities market,Hengan has continued tostrengthenits competitive advantages and seize the opportunity ofindustryconsolidation,laying a solid foundation for high