星悦康旅二零二五年年报

2025ANNUAL REPORT年 報 CONTENTS目錄 公司資料2財務摘要4主席報告6管理層討論與分析10董事履歷詳情32企業管治報告39董事報告61獨立核數師報告81綜合損益及其他全面收益表86 Corporate InformationFinancial HighlightsChairman’s StatementManagement Discussion and AnalysisBiographical Details of DirectorsCorporate Governance ReportReport of the DirectorsIndependent Auditor’s ReportConsolidated Statement of Profit or Loss andOther Comprehensive IncomeConsolidated Statement of Financial PositionConsolidated Statement of Changes in EquityConsolidated Statement of Cash FlowsNotes to Consolidated Financial StatementsFinancial Summary 綜合財務狀況表88綜合權益變動表90綜合現金流量表92綜合財務報表附註94財務概要232 Corporate Information公司資料 BOARD OF DIRECTORS Executive Directors 王吉人先生（主席）（於二零二六年三月十六日辭任）梁金蓉女士（主席）（於二零二六年三月十六日獲委任為主席）陶宇先生（於二零二六年三月十六日獲委任） Mr. Wang Jiren(chairman) (resigned on 16 March 2026)Ms. Liang Jinrong(chairman)(appointed as chairman on 16 March 2026)Mr. Tao Yu (appointed on 16 March 2026) Non-executive Directors Mr. Ruan YongxiMr. Kam Min Ho AndrewMs. Jiang Nan (resigned on 16 March 2026) 阮永曦先生金民豪先生江楠女士（於二零二六年三月十六日辭任） Independent non-executive Directors 洪嘉禧先生李子俊醫生王韶先生 Mr. Hung Ka Hai ClementDr. Li ZijunMr. Wang Shao AUDIT COMMITTEE 洪嘉禧先生（主席）李子俊醫生王韶先生 Mr. Hung Ka Hai Clement(chairman)Dr. Li ZijunMr. Wang Shao REMUNERATION COMMITTEE 洪嘉禧先生（主席）王吉人先生（於二零二六年三月十六日辭任）梁金蓉女士（於二零二六年三月十六日獲委任）李子俊醫生王韶先生 Mr. Hung Ka Hai Clement(chairman)Mr. Wang Jiren (resigned on 16 March 2026)Ms. Liang Jinrong (appointed on 16 March 2026)Dr. Li ZijunMr. Wang Shao NOMINATION COMMITTEE 王吉人先生（主席）（於二零二六年三月十六日辭任）梁金蓉女士（主席）（於二零二六年三月十六日獲委任為主席）洪嘉禧先生李子俊醫生王韶先生 Mr. Wang Jiren(chairman) (resigned on 16 March 2026)Ms. Liang Jinrong(chairman)(appointed as chairman on 16 March 2026)Mr. Hung Ka Hai ClementDr. Li ZijunMr. Wang Shao 翟慧婷女士 COMPANY SECRETARY Ms. Chak Wai Ting AUTHORISED REPRESENTATIVES Mr. Wang Jiren(resigned on 16 March 2026)Mr. Tao Yu (appointed on 16 March 2026)Ms. Chak Wai Ting 王吉人先生（於二零二六年三月十六日辭任）陶宇先生（於二零二六年三月十六日獲委任）翟慧婷女士 AUDITOR 中匯安達會計師事務所有限公司執業會計師註冊公眾利益實體核數師 Zhonghui Anda CPA LimitedCertified Public AccountantsRegistered Public Interest Entity Auditor Starjoy Wellness and Travel Company Limited星悅康旅股份有限公司2 http://www.sjwt.net COMPANY WEBSITEhttp://www.sjwt.net 3662.HK STOCK CODE3662.HK PRINCIPAL BANKERS 招商銀行股份有限公司中國建設銀行交通銀行（香港）有限公司中國工商銀行股份有限公司中國光大銀行股份有限公司 China Merchants Bank Co., LtdChina Construction BankBank of Communications (Hong Kong) LimitedIndustrial and Commercial Bank of China LimitedChina Everbright Bank Company Limited REGISTERED OFFICE Cricket SquareHutchins DriveP.O. Box 2681Grand CaymanKY1-1111Cayman Islands Cricket SquareHutchins DriveP.O. Box 2681Grand CaymanKY1-1111Cayman Islands PRINCIPAL PLACE OF BUSINESS IN THE PRC 中國廣東省廣州市天河區黃埔大道西108號奧園大廈21樓 21/F., Aoyuan MansionNo. 108, HuangPu Avenue WestTianhe District, GuangzhouGuangdong ProvincePRC PRINCIPAL PLACE OF BUSINESS IN HONG KONG Units P02–P05, 11th FloorOne KowloonNo. 1 Wang Yuen StreetKowloon Bay, KowloonHong Kong 香港九龍九龍灣宏遠街1號一號九龍11樓P02–P05室 PRINCIPAL SHARE REGISTRAR ANDTRANSFER OFFICE IN THE CAYMAN ISLANDS Conyers Trust Company (Cayman) LimitedCricket SquareHutchins DriveP.O. Box 2681Grand Cayman, KY1-1111Cayman Islands Conyers Trust Company (Cayman) LimitedCricket SquareHutchins DriveP.O. Box 2681Grand Cayman, KY1-1111Cayman Islands HONG KONG BRANCH SHARE REGISTRARAND TRANSFER OFFICE 香港中央證券登記有限公司香港灣仔皇后大道東183號合和中心17樓1712–1716號舖 Computershare Hong Kong Investor Services LimitedShops 1712–1716, 17th Floor, Hopewell Centre183 Queen’s Road EastWanchaiHong Kong 二零二五年報Annual Report 20253 Financial Highlights財務摘要 Chairman’s Statement主席報告 致各位股東及夥伴： Dear Shareholders and Partners, 本人謹代表星悅康旅股份有限公司（「星悅」、「星悅康旅」或「本公司」）董事會，欣然呈報本公司及其附屬公司（統稱「本集團」）或「我們」）截至二零二五年十二月三十一日止年度（「二零二五年」、「本 年 度」、「二 零 二 五 財 政 年 度」或「報 告 期 內」的全年業績。 On behalf of the Board of Directors of Starjoy Wellness and TravelCompany Limited (“Starjoy”, “Starjoy Wellness and Travel” orthe “Company”), I am pleased to present the annual results of theCompany and its subsidiaries (the “Group”, “we”, “our” or “us”)for the year ended 31 December 2025 (the “2025”, “Year”, “FY2025” or “Reporting Period”). 本年度，本集團貫徹「行穩致遠」的方針，將全員合力聚焦於內生增長與價值創造。在行業逐步邁向以「高質量發展」為主要特徵的新階段，本集團堅定踐行「服務贏口碑，價值建勳章」的理念，以「服務深耕+業態創新」構建核心競爭力。本集團相信，行業變局下，唯有以優秀的服務品質築牢信任根基，以前瞻性的業態佈局搶佔增長先機，方能穿越週期，為股東創造持續穩定的價值回報。 During the Year, the Group remained committed to the guidingprinciple of “steady progress for sustained success.” We directed thecollective efforts of all employees toward internal growth and valuecreation. As the industry entered a new phase characterised by high-quality development, the Group steadfastly upheld its core philosophyof “winning reputation through service, building honour throughvalue.” By deepening service excellence and advancing businessmodel innovation, we strengthened our core competitiveness. Wefirmly believe that, in a rapidly changing industry, only by buildingdeep trust through outstanding service quality and seizing growthopportunities with forward-looking strategie