中国派对文化2025 年报

Corporate Information2Chairman’s Statement4Directors’ Business Review andManagement Discussion and Analysis6Corporate Governance Report24Directors and Senior Management45Report of the Directors48Independent Auditor’s Report66Consolidated Statement of Profit or Loss andOther Comprehensive Income75Consolidated Statement of Financial Position77Consolidated Statement of Changes in Equity79Consolidated Statement of Cash Flows80Notes to the Consolidated Financial Statements82Five-Year Financial Summary200 Corporate Information公司資料 BOARD OF DIRECTORS Executive DirectorsMr. Teng Hao(Chairman)Mr. Xu Chengwu(Chief Executive Officer)Mr. Chen Jinbo Independent Non-executive Directors Mr. Zheng Jin MinMr. Chen Wen HuaMs. Peng Xu AUDIT COMMITTEE Mr. Zheng Jin Min(Chairman)Mr. Chen Wen HuaMs. Peng Xu REMUNERATION COMMITTEE Mr. Chen Wen Hua(Chairman)Mr. Xu ChengwuMs. Peng Xu NOMINATION COMMITTEE Ms. Peng Xu(Chairlady)Mr. Teng HaoMr. Chen Wen Hua COMPANY SECRETARYMr. Chong Man Hung Jeffrey REGISTERED OFFICE Windward 3Regatta Office ParkP.O. Box 1350Grand Cayman KY1-1108Cayman Islands Windward 3Regatta Office ParkP.O. Box 1350Grand Cayman KY1-1108Cayman Islands HEADQUARTER AND PRINCIPAL PLACE OFBUSINESS IN THE PRC 3 No. 3 Chunchao RoadYichun Economic & Technological Development ZoneJiangxi Province, China PLACE OF BUSINESS IN HONG KONG Room 225–27, 2/F.Mega Cube, 8 Wang Kwong RoadKowloon Bay, KowloonHong Kong 82225–27 SHARE REGISTRAR AND TRANSFER OFFICE Principal Ocorian Trust (Cayman) LimitedWindward 3Regatta Office ParkP.O. Box 1350Grand Cayman KY1-1108Cayman Islands Ocorian Trust (Cayman) LimitedWindward 3Regatta Office ParkP.O. Box 1350Grand Cayman KY1-1108Cayman Islands Hong Kong branch 1617 Tricor Investor Services Limited17/F, Far East Finance Centre16 Harcourt RoadHong Kong LEGAL ADVISOR 85501-2 TC & Co., SolicitorsUnits 501–2, 5/F.Tai Tung Building8 Fleming Road, WanchaiHong Kong AUDITOR Grant Thornton Hong Kong LimitedCertified Public Accountants 1532 STOCK CODE1532 www.partytime.com.cn COMPANY WEBSITEwww.partytime.com.cn ir@partytime.com.cn INVESTORS RELATIONSir@partytime.com.cn Chairman’s Statement主席報告 Dear Shareholders: On behalf of the board (the “Board”) of directors (the “Directors”) ofChina Partytime Culture Holdings Limited (the “Company”, togetherwith its subsidiaries, collectively referred to as the “Group”), I ampleased to present to you the annual report of the Group for the yearended 31 December 2025. 10 The Group is principally engaged in the design, development,production, selling and marketing of cosplay products (includingcosplay costumes and cosplay wigs) and non-cosplay apparelswhich include mainly sexy lingerie. Our products are principally forexport sales to more than 10 countries and regions around the globeincluding mainly the U.S., Germany, the UK, Japan and Australia. In 2019, the Group also diversified and expanded to sub-leasingbusiness by entering several lease agreements which relate to thefactory premises situated in the PRC. High KeleeInvestment Holdings Limited During the year ended 31 December 2025, the subsidiaries engagedin fabric care, personal hygiene and home care products business inthe PRC which was discontinued upon the completion of the disposalof High Kelee Investment Holdings Limited and its subsidiary. RESULTS SUMMARY 193.66.2%16.6%46.6%79.866.919.3%72.8 The turnover for the year ended 31 December 2025 amountedto approximately RMB193.6 million, representing a decrease of6.2% as compared to that in 2024. Gross profit margin and netloss margin were approximately 16.6% and 46.6% respectively.The Group recorded a loss for the year attributable to owners of theCompany of approximately RMB79.8 million as compared to a loss ofapproximately RMB66.9 million for the corresponding year in 2024,which represented an increase of 19.3%. The Group maintainedhealthy financial position with net current assets of RMB72.8 millionand net cash position at the financial year end. PROSPECTS The global economic landscape is increasingly complex, withgradually easing inflation overshadowed by elevated interest rates thathinder growth. Geopolitical tensions and uneven recoveries acrossmajor economies contribute to market uncertainties, impacting globaltrade and investment. Looking ahead, the Group anticipates that a recovery in consumerspending and increased demand for affordable fashion will enhanceexports. However, challenges such as inflation, rising labor costs,and ongoing geopolitical tensions may affect profitability. Inthis environment, brands that prioritize sustainability and digitaltransformation are poised to gain a competitive edge, while tradepolicies and tariffs will play a crucial role in shaping export dynamics,necessitating flexibility in supply chains and pricing strategies. The Group will continue to use its best endeavor to improve theefficiency and effectiveness of its operation. Moreover, the Board willseek opportunities t