首惠产业金融二零二五年报

ANNUAL REPORT年 報2025 CONTENTS 2Corporate Information4Directors’ Biographies8Main Operational Structure9Financial Highlights10Chairman’s Statement13Management Discussion and Analysis24Corporate Governance Report51Report of the Directors86Independent Auditor’s Report Audited Consolidated Financial Statements 95Consolidated Statement of Comprehensive Income97Consolidated Statement of Financial Position99Consolidated Statement of Changes in Equity102Consolidated Statement of Cash Flows104Notes to the Consolidated Financial Statements215Five-Year Financial Summary CORPORATE INFORMATION BOARD OF DIRECTORS Sun Yajie(Chairman)Fu Yao(Managing Director)Huang Donglin(Non-executive Director)Zhang Dan(Non-executive Director)Tam King Ching, Kenny(Independent Non-executive Director)Ng Man Fung, Walter(Independent Non-executive Director)On Danita(Independent Non-executive Director) AUDIT COMMITTEE Tam King Ching, Kenny(Chairman)Huang DonglinNg Man Fung, WalterOn Danita NOMINATION COMMITTEE Sun Yajie(Chairman)Huang DonglinTam King Ching, KennyNg Man Fung, WalterOn Danita REMUNERATION COMMITTEE Tam King Ching, Kenny(Chairman)Sun YajieHuang DonglinNg Man Fung, WalterOn Danita COMPANY SECRETARY Leung Tze Wai CORPORATE INFORMATION AUDITOR 31117 SHINEWING (HK) CPA LimitedCertified Public AccountantsRegistered Public Interest Entity Auditor17/F, Chubb Tower, Windsor House311 Gloucester RoadCauseway BayHong Kong PRINCIPAL REGISTRAR Ocorian Management (Bermuda) LimitedVictoria Place, 5th Floor31 Victoria StreetHamilton HM 10Bermuda Ocorian Management (Bermuda) LimitedVictoria Place, 5th Floor31 Victoria StreetHamilton HM 10Bermuda HONG KONG BRANCH SHAREREGISTRAR AND TRANSFER OFFICE 1617 Tricor Investor Services Limited17/F., Far East Finance Centre16 Harcourt RoadHong Kong REGISTERED OFFICE Victoria Place, 5th Floor31 Victoria StreetHamilton HM 10Bermuda Victoria Place, 5th Floor31 Victoria StreetHamilton HM 10Bermuda PRINCIPAL OFFICE IN HONG KONG 398803 Suite 803, 8/F, Harcourt House39 Gloucester RoadWanchaiHong Kong STOCK CODE 730730 WEBSITE www.capital-ifs.com www.capital-ifs.com DIRECTORS’ BIOGRAPHIES DIRECTORS Ms. Sun Yajie, aged 53, was appointed as an Executive Directorand the Chairman of the board of directors of the Company (the“Board”), the Chairman of the Nomination Committee and amember of the Remuneration Committee of the Company in August2022. Ms. Sun was graduated from Hebei University of Economicsand Business. Ms. Sun is a senior accountant and a ChineseCertified Public Accountants. Ms. Sun joined Shougang Group Co.,Ltd (“Shougang Group”) in 1994 and served as the head of theaccounting and finance department of Qinhuangdao ShougangPlate Co., Ltd., the deputy head of theaccounting and finance department of Qinhuangdao Shouqin MetalMaterials Co., Ltd., the deputy head of the overseas investment andfinance division of the overseas business management departmentand the director of oversea finance division and the deputy headof international business department of Shougang Corporation.Shougang Group is a substantial shareholder of the Company. Ms.Sun has extensive experience in the steel industry, corporate finance,financial accounting and management. Ms. Fu Yao, aged 45, was appointed as an Managing Director andExecutive Director of the Company in June 2024. Ms. Fu joinedthe Group in March 2022 and served as the general manager ofthe Company and an executive director of the Company’s wholly-owned subsidiary. Prior joining to the Group, she worked as thedeputy general manager of Industrial Digital Finance Department at(Tianxing Digital Technology Co., Ltd.*), awholly-owned subsidiary of Xiaomi Corporation. Ms. Fu obtainedbachelor’s degree in chemical engineering from China Universityof Petroleum in 2002 and an executive master’s degree in businessadministration from China Europe International Business School in2018. Ms. Fu possesses extensive experience in the field of supplychain finance technology. Mr. Huang Donglin, aged 65, was appointed as a Non-executiveDirector of the Company in May 2018 and is a member of each ofthe Remuneration Committee and the Nomination Committee, hewas also appointed as a member of the Audit Committee in March2021. Mr. Huang held positions in The People’s Bank of China,Industrial and Commercial Bank of China and Bank of China. Hehas worked in the finance industry for over thirty years and led theequity reorganization and restructuring of a number of domesticcompanies. Mr. Huang holds an executive master of businessadministration from Shanghai Jiao Tong University and a doctor’sdegree from United Business Institutes in Belgium. He has extensiveexperience in finance, and has been engaged in relevant enterprisemanagement and diagnosis for a long time. 103 Mr. Zhang Dan, aged 43, was appointed as a Non-executiveDirector of the Company in April 2026. He holds a Master’s degreein Business Administration from The University of California, LosAngeles and a