正乾金融控股2025年报

Contents目錄 Corporate Information公司資料2Management Discussion and Analysis管理層討論及分析5Directors and Senior Management董事及高級管理層21Directors’ Report董事會報告24Corporate Governance Report企業管治報告34Environmental, Social and Governance Report環境、社會及管治報告44Independent Auditor’s Report獨立核數師報告62Consolidated Statement of Profit or Loss andOther Comprehensive Income綜合損益及其他全面收益表67Consolidated Statement of Financial Position綜合財務狀況表69Consolidated Statement of Changes in Equity綜合權益變動表71Consolidated Statement of Cash Flows綜合現金流量表72Notes to the Consolidated Financial Statements綜合財務報表附註74Five Year Financial Summary五年財務概要159 Corporate Information公司資料 BOARD OF DIRECTORS 董事會 執行董事 Executive directors 20252720252720251212025121202619 Mr. Zhang Rujie (resigned on 7 February 2025)Mr. Chu Kin Wang Peleus(appointed on 7 February 2025 and resigned on 1 December 2025)Mr. Cao Wenbo (Chief Executive Officer) (appointed on 1 December 2025)Mr. Li Zilun (appointed on 9 January 2026) 獨立非執行董事 Independent non-executive directors Mr. Sin Ka ManMs. Liang LinaMr. Chen Yifan COMPANY SECRETARY 公司秘書 Mr. Chou Chiu Ho AUTHORISED REPRESENTATIVES 授權代表 Mr. Chou Chiu HoMr. Zhang Rujie (resigned on 7 February 2025)Mr. Chu Kin Wang Peleus(appointed on 7 February 2025 and resigned on 1 December 2025)Mr. Cao Wenbo (appointed on 1 December 2025) 20252720252720251212025121 MEMBERS OF THE AUDIT COMMITTEE 審核委員會成員 Mr. Sin Ka Man(Chairman)Ms. Liang LinaMr. Chen Yifan MEMBERS OF THE REMUNERATION COMMITTEE 薪酬委員會成員 Mr. Chen Yifan(Chairman)Mr. Sin Ka ManMs. Liang Lina MEMBERS OF THE NOMINATION COMMITTEE 提名委員會成員 Ms. Liang Lina(Chairman)Mr. Sin Ka ManMr. Chen Yifan REGISTERED OFFICE 註冊辦事處 Clarendon House2 Church StreetHamilton HM 11Bermuda Clarendon House2 Church StreetHamilton HM 11Bermuda Corporate Information公司資料 HEADQUARTERS IN THE PEOPLE’S REPUBLIC OFCHINA 於中華人民共和國的總部 Room 2408Rongchao Economic and Trade CenterNo. 4028, Jintian RoadFuzhong Community, Lianhua StreetFutian District, Shenzhen, PRC 40282408 PRINCIPAL PLACE OF BUSINESS IN HONG KONG 香港主要經營地點 Room 510, 5/FWayson Commercial Building28 Connaught Road WestSheung Wan, Hong Kong 285510 BERMUDA RESIDENT REPRESENTATIVE 駐百慕達代表 Codan Services LimitedClarendon House2 Church StreetHamilton HM 11Bermuda Codan Services LimitedClarendon House2 Church StreetHamilton HM 11Bermuda BERMUDA PRINCIPAL SHARE REGISTRAR ANDTRANSFER OFFICE 百慕達股份過戶登記總處 Appleby Global Corporate Services (Bermuda) LimitedCanon’s Court22 Victoria StreetPO Box HM 1179Hamilton HM EXBermuda Appleby Global Corporate Services (Bermuda) LimitedCanon’s Court22 Victoria StreetPO Box HM 1179Hamilton HM EXBermuda HONG KONG SHARE REGISTRAR AND TRANSFEROFFICE 香港股份過戶登記處 Union Registrars LimitedSuites 3301–04, 33/F.Two Chinachem Exchange Square338 King’s RoadNorth PointHong Kong 3382333301–04 Corporate Information公司資料 主要往來銀行 PRINCIPAL BANKERS 1 The Hongkong and Shanghai Banking Corporation LimitedHSBC Main Building1 Queen’s Road CentralHong Kong Dah Sing Bank Limited33/F., Everbright Centre108 Gloucester RoadHong Kong 10833 AUDITOR 核數師 18824 McMillan Woods (Hong Kong) CPA Limited24/F, Siu On Centre188 Lockhart Road, Wan ChaiHong Kong COMPANY’S WEBSITE 公司網站www.1152.com.hk www.1152.com.hk STOCK CODE 股份代號 11521152 Management Discussion and Analysis BUSINESS REVIEW The Group is principally engaged in the provision of cross-border businessand provision of finance leasing and consultancy service. 1.跨境業務 1.Cross-border business The Group commenced its cross-border business since 2017, andexpands its cross-border business under the S2B2C and B2C model.The S2B2C model is to provide value-added service to e-commercedistributors and/or end consumers in the PRC by (i) securing across-border e-commerce platform that integrates overseas directprocurement, import and export supply chain management; and (ii)leasing of several bonded warehouses, which allows the Group toefficiently import products into the PRC and maintain inventory torespond to customer orders in a swift manner, while providing customclearance, warehouse storage and logistics assistance to its customersto strengthen its competitive edge. 2017S2B2CB2CS2B2C(i)(ii) The B2C model allows the Group to directly advertise and offer itsproducts to end-consumers. The Group believed that the B2C modelcould diversify the source of income generated from its cross-borderbusiness segment. B2CB2C During the Reporting Period, the Group adhered to a prudent operationalstrategy and remained committed to high quality development, whilecontinuing to optimize its business portfolio and product mix. Buildingupon its established core businesses, the Group further expandedits cross-border trading activities in nutritional food and healthcareproducts. The Group also continued to strengthen its global supplychain framework by progressively broadening quality sourcing channels,enhancing its warehousing and logistics capabilities, and improvingcompliance management systems. Thes