天虹国际集团二零二五年年报

(Incorporated in the Cayman Islands with limited liability)Stock Code2678 ANNUAL REPORT2025 TABLE OF CONTENTS目錄 企業簡介CORPORATE PROFILE 企業簡介 CORPORATE PROFILE 26785,0004261,700 Texhong International Group Limited (stock code: 2678) is one ofthe world’s largest cotton textile manufacturers and is a leadingtextileenterprise focusing on manufacturing high value-addedcore-spun textile products. The Group is principally engaged in themanufactureand distribution of quality yarns,grey fabrics andgarment fabrics. Since 1997, the Group has grown rapidly and hasover5,000 customers in the PRC and overseas,with its salesnetwork spanning many countries and regions around the world,including the PRC, Vietnam, North America, Europe, Brazil, Turkey,Bangladesh, Japan and South Korea. With its sales headquartersestablishedin Shanghai,the Group has production bases inoperation in the PRC, Vietnam, Turkey, the Americas, with majorproduction facilities comprising about 4.26 million spindles and over1,700 weaving and knitting machines and the corresponding dyeingand finishing equipment as at 31 December 2025. 主席報告書CHAIRMAN’S STATEMENT On behalf of the Board, I am pleasedto present the annual results of theGroupfor the year ended 31December 2025 to the shareholdersof the Company. 本人謹代表董事會，欣然向本公司股東呈列本集團截至二零二五年十二月三十一日止年度的全年業績。 Hong Tianzhu洪天祝Chairman 主席報告書（續）CHAIRMAN’S STATEMENT (CONTINUED) 業績 RESULTS The global economy entered a phase of structural realignment in2025. While transitioning beyond short-term post-pandemic shockstoachieve a sluggish yet resilient performance,it sustainedmoderategrowth.Meanwhile,the trade landscape underwentprofound changes, with the deepening of regional supply chainsushering in a new normal for the market environment. Turning toChina, as the domestic economy progressed toward high-qualitygrowth and the application of high-tech innovations continued toadvance,the textile industry demonstrated notable structuralresilience. However, shifting international trade policies stemmingfrom U.S. “reciprocal tariffs” continued to pressure export channels. (workleisure) In the meantime, overseas markets experienced a cautious recovery,with consumers shifting from impulsive spending of recent yearstoward more rational, purpose-driven consumption that prioritizespracticalityand long-term value.Additionally,the blurring linebetween professional and active lifestyles accelerated the demandfor“workleisure”—high-performanceclothing that integratesfeatures like thermal regulation and moisture-wicking into traditionalprofessional silhouettes, perfectly aligning with modern life. Thesetrends have fostered a “quality over quantity” mindset and favoredmanufacturerswith advanced technological capabilities and theability to produce high-value added functional products. Building on the strong recovery and positive momentum of 2024,which saw the Group recover from post-pandemic challenges, itentered a new phase of high-quality, efficient growth in 2025. TheGroup has maintained near-full capacity utilization and has started tobenefit from the technological and process upgrades carried outover the past years. Also, by allocating greater resources to newlydeveloped, high-value-added differentiated products, the Group hasfurther decoupled its profit growth from mere volume expansion. Atthe same time, the stabilizing cotton market has allowed for a moreconsistentand cost-effective procurement strategy,keeping theGroup’s material costs under control. The Group’s long-term strategy of globalized manufacturing hascontinued to prove its worth amid escalating trade frictions andpolicy uncertainties. Our established capacity layout in Vietnam andthe Americas has provided the Group with a critical advantage,serving as a resilient buffer against supply chain instabilities thathave impacted the industry in recent years. As global supply chainsshift toward regionalization and “nearshoring” transformation, webelievethat strategically positioning our production around theworld is no longer just a cost-saving measure, but a necessity formaintaining market leadership and ensuring supply chain resiliencein an unpredictable geopolitical climate. 主席報告書（續）CHAIRMAN’S STATEMENT (CONTINUED) 2279.7229.1300.99 In2025,the Group recorded overall revenue of approximatelyRMB22.7 billion, net profit of approximately RMB972.2 million, profitattributable to owners of the Company of approximately RMB913.0million, and basic earnings per share of RMB0.99. 展望 OUTLOOK Lookingahead to 2026,the textile industry will place greateremphasison long-term planning where sustainability and AIintegration will transition from emerging trends to core operationalstandards. As market demand stabilizes, the Group is well-positionedfor growth. Our operational strategy prioritizes the internal resourceintegration as a foundation, while simultaneously driving proactivemarket expansion, aiming to forge a new paradigm of dual-tracksynergetic transformation. We wil