太兴集团二零二五年年报

2025ANNUAL REPORT年報 CONTENTS Corporate Information公司資料2Financial Highlights財務摘要4Chairman’s Statement主席報告7Management Discussion and Analysis管理層討論與分析11Biographical Details of Directors andSenior Management董事及高級管理層履歷26Directors’ Report董事會報告35Corporate Governance Report企業管治報告55Independent Auditor’s Report獨立核數師報告80 Consolidated Statement of Profit or Loss綜合損益表87Consolidated Statement of ComprehensiveIncome綜合全面收益表88Consolidated Statement of Financial Position綜合財務狀況表89Consolidated Statement of Changes in Equity綜合權益變動表91Consolidated Statement of Cash Flows綜合現金流量表92Notes to Financial Statements財務報表附註95Five-Year Financial Summary五年財務概要193Glossary詞彙表194 CORPORATE INFORMATION BOARD OF DIRECTORSExecutive Directors 陳家強先生#1（主席#2）陳永安先生（主席）#3陳淑芳女士（副主席#2）袁志明先生何小鋒先生#4 Mr. Chan Ka Keung#1(Chairman#2)Mr. Chan Wing On(Chairman)#3Ms. Chan Shuk Fong(Vice Chairman#2)Mr. Yuen Chi MingMr. Ho Siu Fung#4 何炳基先生 Non-Executive DirectorMr. Ho Ping Kee 麥炳良先生（又名麥華章）黃紹開先生薩翠雲博士 Independent Non-Executive DirectorsMr. Mak Ping Leung (alias: Mak Wah Cheung)Mr. Wong Shiu Hoi PeterDr. Sat Chui Wan 薩翠雲博士（主席）麥炳良先生（又名麥華章）黃紹開先生 AUDIT COMMITTEEDr. Sat Chui Wan(Chairman)Mr. Mak Ping Leung (alias: Mak Wah Cheung)Mr. Wong Shiu Hoi Peter REMUNERATION COMMITTEEMr. Mak Ping Leung(alias: Mak Wah Cheung)(Chairman) 麥炳良先生（又名麥華章）（主席）陳家強先生#2陳永安先生#3陳淑芳女士黃紹開先生薩翠雲博士 Mr. Chan Ka Keung#2Mr. Chan Wing On#3Ms. Chan Shuk FongMr. Wong Shiu Hoi PeterDr. Sat Chui Wan NOMINATION COMMITTEE Mr. Chan Ka Keung(Chairman)#2Mr. Chan Wing On(Chairman)#3Ms. Chan Shuk FongMr. Mak Ping Leung (alias: Mak Wah Cheung)Mr. Wong Shiu Hoi PeterDr. Sat Chui Wan 陳家強先生(主席)#2陳永安先生（主席）#3陳淑芳女士麥炳良先生（又名麥華章）黃紹開先生薩翠雲博士 周正亨先生 COMPANY SECRETARYMr. Chau Ching Hang AUDITOR 安永會計師事務所執業會計師註冊公眾利益實體核數師香港鰂魚涌英皇道979號太古坊一座27樓 Ernst & YoungCertified Public AccountantsRegistered Public Interest Entity Auditor27/F, One Taikoo Place979 King’s RoadQuarry Bay, Hong Kong #1於二零二五年七月一日獲委任#2於二零二五年十一月二十五日獲委任#3於二零二五年十一月二十四日停任#4於二零二六年一月一日獲委任 #1appointed on 1 July 2025#2appointed on 25 November 2025#3ceased with effect from 24 November 2025#4appointed on 1 January 2026 2Tai Hing Group Holdings Limited太興集團控股有限公司2 CORPORATE INFORMATION 的近律師行 LEGAL ADVISERSAs to Hong Kong law:Deacons As to Cayman Islands law:Conyers Dill & Pearman Conyers Dill & Pearman 中國銀行（香港）有限公司恒生銀行有限公司香港上海滙豐銀行有限公司交通銀行（香港）有限公司大華銀行有限公司 PRINCIPAL BANKERS Bank of China (Hong Kong) LimitedHang Seng Bank LimitedThe Hongkong and Shanghai Banking Corporation LimitedBank of Communications (Hong Kong) LimitedUnited Overseas Bank Limited REGISTERED OFFICE Cricket Square, Hutchins DriveP.O. Box 2681Grand Cayman KY1-1111Cayman Islands Cricket Square, Hutchins DriveP.O. Box 2681Grand Cayman KY1-1111Cayman Islands HEAD OFFICE AND PRINCIPAL PLACE OFBUSINESS IN HONG KONG 香港鰂魚涌海灣街1號華懋交易廣場13樓 13/F, Chinachem Exchange Square1 Hoi Wan StreetQuarry BayHong Kong PRINCIPAL SHARE REGISTRAR AND TRANSFEROFFICE 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 卓佳證券登記有限公司香港夏愨道16號遠東金融中心17樓 Tricor Investor Services Limited17/F, Far East Finance Centre16 Harcourt RoadHong Kong STOCK CODE6811 6811 WEBSITEwww.taihing.com www.taihing.com 3Annual Report 2025二零二五年年報3 FINANCIAL HIGHLIGHTS Notes: 1.建議末期股息為每股5.00港仙（二零二四年：末期股息每股2.50港仙及特別股息每股7.50港仙），連同已派發之中期股息每股3.50港仙，截至二零二五年十二月三十一日止年度之建議股息總額將為每股8.50港仙（二零二四年：每股12.50港仙）。 1.Final dividend of HK5.00 cents per share (2024: final dividend ofHK2.50 cents per share and special dividend of HK7.50 cents pershare) was proposed. Together with the interim dividend of HK3.50cents per share already paid, proposed total dividend per share forthe year ended 31 December 2025 will amount to HK8.50 cents(2024: HK12.50 cents per share). 2.The Group has 224 self-operated restaurants (as at 31 December2024: 210) and no restaurant operated by its franchisee (as at 31December 2024: 1). 2.本集團擁有224間自營餐廳（於二零二四年十二月三十一日：210間）及無特許經營餐廳（於二零二四年十二月三十一日：1間）。 FINANCIAL HIGHLIGHTS 本集團擁有224間自營餐廳（於二零二四年十二月三十一日：210間）及無特許經營餐廳（於二零二四年十二月三十一日：1間）。 The Group has 224 self-operated restaurants (as at 31 December 2024:210) and no restaurant operated by its franchisee (as at 31 December2024: 1). FINANCIAL HIGHLIGHTS 1.The above chart does notinclude special dividends(special dividend of 2023:HKD0.035, special dividendof 2024: HKD0.075)*No net profit was recordedin 2022 (for the year ended 31 December 2025)（截至二零二五年十二月三十一日止年度） CHAIRMAN’S STATEMENT Dear Shareholders, On behalf of the board of directors (the “Board”), I presentthe annual results of Tai Hing Group Holdings Limited togetherwith its subsidiaries (the “Tai Hing Group” or the “Group”)for the year ended 31 December 2025 (the “Review Year”or “FY2025”). Before that, I would like to pay tribute to ourfounder, Mr. Chan Wing On, JP.